₦airaland Forum

crownfierce:
Rubbish, u posted here. A man that has fought tooth and nail to ensure there is tax reform so we can maximise other revenue potentials. It’s obvious you don’t know Tinubu.. u re just playing opposition blindly

crownfierce:
Rubbish, u posted here. A man that has fought tooth and nail to ensure there is tax reform so we can maximise other revenue potentials. It’s obvious you don’t know Tinubu.. u re just playing opposition blindly

ebexofficial:
Let the price of fuel crash too in reflection

Fiscus105:
With higher prices, what has my nation done with the money? Does it beneficial to masses or political elites?

Let it crash to $20 or below. If there is no more money in the nation's pocket, maybe politicians too would learn how to tighten their belts, it's not only masses that should tighten their belts.

crownfierce:
Rubbish, u posted here. A man that has fought tooth and nail to ensure there is tax reform so we can maximise other revenue potentials. It’s obvious you don’t know Tinubu.. u re just playing opposition blindly

Gboss247:
When the cheapest petrol is sold for N5,000/litre, you know that Nigeria been an oil dependent economy in the 21st century is a time bomb.

malali:

They have been doing that for 2 years, where have you been ? OPEC has been cutting quotas worldwide. This crash is lack of demand. China is not buying as much as before,If they stop "dredging" they wont be able to pay salaries and there is no guarantee oil prices will come back up anytime soon.

malali:
Tinubu’s grandstanding infrastructure obsession has all the markings of another debt-fueled disaster in the making. With oil crashing into the low $60s per barrel ( far below Nigeria’s budget breakeven) the only logical question is: who funds his dreams? His answer appears dangerously obvious ,more loans, higher interests, and a financial dependence on creditors who will eventually dictate Nigeria’s policies.

What Tinubu is building are not assets that generate future revenue or foreign exchange, they are legacy projects for ribbon-cutting ceremonies. Railways that cannot pay for themselves, roads without tolling strategy, power projects without market reforms. This is not visionary economics , it’s political optics borrowed at premium rates.

Nigeria is staring down a future of ballooning debt servicing costs, currency devaluation pressures, and even more taxes squeezed from an already battered population. Without structural reforms, productivity expansion, or genuine export capacity,

Tinubu’s current path feels like a fast-track to fiscal captivity.

malali:
I am not even opposition. If you understand tax reforms, you will know that taxes can only be produced as a result of sales and circulating money in the economy. If oil prices fall it will depress the whole economy and then there will be less tax to collect. Tax reform doesnt happen in isolation its very much dependent on a robust economy.

You are telling me Tinubu has inflated the tires of the car. I am telling you there is no petrol fro the car to move. Does it matter if the car's tire has air ? How long can you push the car ? you want to push from Abuja to Lagos ? You still need petrol for us to know that you did a good job inflating the tires !!!

fineboynl:
thank you my brother.

I’m not against building infrastructure. But that shouldn't be done with borrowed funds when you have to repay with interest.

The south east needs 200 trillions or dollars equivalent loan to revolutionize production and self reliace on some key manufacturing items. That how the Chinese and south Korea developed. Not borrowing money to waste on things that cannot generate wealth and repayment. Look at the world bank for example they will not grant any loans that will make Nigeria a manufacturing hub not even the Chinese as all of them are protecting their interest. But we have to do it anyway possible.

We need manufacturing state or estate closer to the sea. Free or cheap energy to kick start production. Access to good road and all other basic needs to start manufacturing automobile parts and electronics components even heavy equipment. In the next decade we should be reliance on some key items to challenge china dominance in africa and beyond.


But here we are still talking about herdsmen and farmers crisis today.

Look at the loans world bank and imf is giving Nigeria for example. Bole hole and money to be shared to vulnerable people. Senseless and rubbish loan to funds that will be stolen back to their economy. They encourage corruption. then later on they will advice the government to remove subsidy. Is just like the rat that’s blowing your leg is biting you

World bank or the Chinese will never approve any loan that will make Africa self reliance and manufacturing hub. Unfortunately we have clueless leaders who only think about winning or rigging next election.

Higher price in energy means manufacturing is dead. And cannot even be competitive with international market. The Chinese are very smart and strategic with area where subsidy is needed. The western style we are coping today we have seen what happens to their manufacturing company in lady decades. The US for example is now a dumping ground for Chinese products because of high energy and labor cost.

The same style of government tinubu is introducing Nigeria into. Inflation, increasing workers wage, high energy bill and higher cost of general production.

You cant tax unproductive and poor people to prosperity. You can only tax a productive economy to higher greatness.


We have to follow the Chinese blueprint. Because the western style economy capitalism is already failing

malali:
Tinubu’s grandstanding infrastructure obsession has all the markings of another debt-fueled disaster in the making. With oil crashing into the low $60s per barrel ( far below Nigeria’s budget breakeven) the only logical question is: who funds his dreams? His answer appears dangerously obvious ,more loans, higher interests, and a financial dependence on creditors who will eventually dictate Nigeria’s policies.

What Tinubu is building are not assets that generate future revenue or foreign exchange, they are legacy projects for ribbon-cutting ceremonies. Railways that cannot pay for themselves, roads without tolling strategy, power projects without market reforms. This is not visionary economics , it’s political optics borrowed at premium rates.

Nigeria is staring down a future of ballooning debt servicing costs, currency devaluation pressures, and even more taxes squeezed from an already battered population. Without structural reforms, productivity expansion, or genuine export capacity,

Tinubu’s current path feels like a fast-track to fiscal captivity.

nairalanda1:
2014 again

One reason why I say that tinubu is just doing what his predecessors did, and why we have never had good leaders in Nigeria....is the simple fact that all of them have run resource dependent economies.

I have been on Awo's case for some time...Awo, and his fellow premiers Bello and Azikiwe, all of them had one thing in common...they used the funds from the resources they sold to 'develop' their regions.

There is nothing wrong with that. The problem was that it essentially made our economies dependent on price controls from oversease. Cotton, cocoa, palm oil, etc...their prices are set abroad. Not set by us. It also meant that when oil came along, we were in the perfect position to fall into its trap.

Today, our economy is 80% dependent on oil. Yes, it is. 80% of our revenues come from oil. And when oil prices are high, things look good, when they fall, things look bad. But the truth is, they have been bad...all the time.

One thing I would like to tell Nigerians is that, until you are ready to vote for a government that would use what we have to develop stuff the world needs, you will never have good governance.

asolocoaso:
We have an 80% oil economy.

Obaaderemi2:
This is mrvitalis. You can not tell me otherwise

malali:
I am not even opposition. If you understand tax reforms, you will know that taxes can only be produced as a result of sales and circulating money in the economy. If oil prices fall it will depress the whole economy and then there will be less tax to collect. Tax reform doesnt happen in isolation its very much dependent on a robust economy.

You are telling me Tinubu has inflated the tires of the car. I am telling you there is no petrol fro the car to move. Does it matter if the car's tire has air ? How long can you push the car ? you want to push from Abuja to Lagos ? You still need petrol for us to know that you did a good job inflating the tires !!!

Deltavariant:
This is where Tinubu and his gang of bloated economic experts begin to reap the reward of carelessness and propaganda,after 2 years of blame game and removing subsidy on virtually all programs and nothing to show...

Obaaderemi2:
This is mrvitalis. You can not tell me otherwise

malali:
Tinubu’s grandstanding infrastructure obsession has all the markings of another debt-fueled disaster in the making. With oil crashing into the low $60s per barrel ( far below Nigeria’s budget breakeven) the only logical question is: who funds his dreams? His answer appears dangerously obvious ,more loans, higher interests, and a financial dependence on creditors who will eventually dictate Nigeria’s policies.



What Tinubu is building are not assets that generate future revenue or foreign exchange, they are legacy projects for ribbon-cutting ceremonies. Railways that cannot pay for themselves, roads without tolling strategy, power projects without market reforms. This is not visionary economics , it’s political optics borrowed at premium rates.

Nigeria is staring down a future of ballooning debt servicing costs, currency devaluation pressures, and even more taxes squeezed from an already battered population. Without structural reforms, productivity expansion, or genuine export capacity,

Tinubu’s current path feels like a fast-track to fiscal captivity.

nairalanda1:
Okay let's assume tinubu kept subsidy.

Already under subsidy , the subsidy was forcing us to take on a lot of debt over time, to the point that 90% of our revenue was going to debt service, and government revenue was under threat.

Now, with oil prices falling, we won't have had money to keep subsidy and pay debt....we would either have to take more loans, or default on loans and face the wrath of the IMF.

The thing is, subsidy has always been paid from oil revenue. When oil prices fall drastically, we take loans to pay for subsidy. That is how buhari did it, and many of our past leaders did it.

Removing fuel subsidy may be the reason why we won't be taking even more loans than the ones we have to.

Tinubu has made a lot of bad decisions. Removing subsidy was not one of them. You can call me agbado.....but when debt service as at August 2022 is eating 90% of revenue, and when government is forced to borrow wildly as a result, nothing can be done.

And education, health is subsidised for people who go to government hospitals. Power is subsidised for people that are not on band A.

Atarakpa:
Is simple let them stop dredging for a while and create scarcity the price will jump up to double. But greed and lack of trust will not allow them

fineboynl:
thank you my brother.

I’m not against building infrastructure. But that shouldn't be done with borrowed funds when you have to repay with interest.

The south east needs 200 trillions or dollars equivalent loan to revolutionize production and self reliace on some key manufacturing items. That how the Chinese and south Korea developed. Not borrowing money to waste on things that cannot generate wealth and repayment. Look at the world bank for example they will not grant any loans that will make Nigeria a manufacturing hub not even the Chinese as all of them are protecting their interest. But we have to do it anyway possible.

We need manufacturing state or estate closer to the sea. Free or cheap energy to kick start production. Access to good road and all other basic needs to start manufacturing automobile parts and electronics components even heavy equipment. In the next decade we should be reliance on some key items to challenge china dominance in africa and beyond.


But here we are still talking about herdsmen and farmers crisis today.

Look at the loans world bank and imf is giving Nigeria for example. Bole hole and money to be shared to vulnerable people. Senseless and rubbish loan to funds unproductive ventures and eventually the funds stolen back to their economy as they encourage corruption. then later on they will advice the government to remove subsidy. Is just like the rat that’s blowing your leg is biting you

World bank or the Chinese will never approve any loan that will make Africa self reliance and manufacturing hub. Unfortunately we have clueless leaders who only think about winning or rigging next election.

Higher price in energy means manufacturing is dead. And cannot even be competitive with international market. The Chinese are very smart and strategic with area where subsidy is needed. The western style we are coping today we have seen what happens to their manufacturing company in last decade. The US for example is now a dumping ground for Chinese products because of high energy and labor cost.

The same style of government tinubu is introducing Nigeria into. Inflation, increasing workers wage, high energy bill and higher cost of general production.

You cant tax unproductive and poor people to prosperity. You can only tax a productive economy to higher greatness.


We have to follow the Chinese blueprint. Because the western style economy capitalism is already failing

Sirianese:
Those fools in Abuja won't be able to prop up the Naira for much longer

Nigerians prepare for an exchange rate of N2,500 to one dollar, petrol at N2,000 per litre or higher

malali:
Source: https://oilprice.com/Latest-Energy-News/World-News/Oil-Nations-Scramble-to-Avert-Economic-Crisis-After-Prices-Crash.html

nairalanda1:
2014 again

One reason why I say that tinubu is just doing what his predecessors did, and why we have never had good leaders in Nigeria....is the simple fact that all of them have run resource dependent economies.

I have been on Awo's case for some time...Awo, and his fellow premiers Bello and Azikiwe, all of them had one thing in common...they used the funds from the resources they sold to 'develop' their regions.

There is nothing wrong with that. The problem was that it essentially made our economies dependent on price controls from oversease. Cotton, cocoa, palm oil, etc...their prices are set abroad. Not set by us. It also meant that when oil came along, we were in the perfect position to fall into its trap.

Today, our economy is 80% dependent on oil. Yes, it is. 80% of our revenues come from oil. And when oil prices are high, things look good, when they fall, things look bad. But the truth is, they have been bad...all the time.

One thing I would like to tell Nigerians is that, until you are ready to vote for a government that would use what we have to develop stuff the world needs, you will never have good governance.

malali:
Tinubu’s grandstanding infrastructure obsession has all the markings of another debt-fueled disaster in the making. With oil crashing into the low $60s per barrel ( far below Nigeria’s budget breakeven) the only logical question is: who funds his dreams? His answer appears dangerously obvious ,more loans, higher interests, and a financial dependence on creditors who will eventually dictate Nigeria’s policies.

What Tinubu is building are not assets that generate future revenue or foreign exchange, they are legacy projects for ribbon-cutting ceremonies. Railways that cannot pay for themselves, roads without tolling strategy, power projects without market reforms. This is not visionary economics , it’s political optics borrowed at premium rates.

Nigeria is staring down a future of ballooning debt servicing costs, currency devaluation pressures, and even more taxes squeezed from an already battered population. Without structural reforms, productivity expansion, or genuine export capacity,

Tinubu’s current path feels like a fast-track to fiscal captivity.