₦airaland Forum

yaki84:
Uncle we still have black market rates..
What if there R people who still getting Forex at cheap price from CBN?
What of hajj and Jerusalem pilgrims, how much do they exchange dollar for them compare to the official rate?
Why did U skip local government autonomy?
Cos on paper, there's autonomy but in real and practical terms, it's still status quo..
What if the tax policy toe the same path as the local government autonomy?
And for the umpteen time, Buhari removed fuel subsidy during his first year in office..
Even when we told them it was partial removal, Osinbàjo told us it was full deregulation of downstream sector.
Even Tinubu who was APC chieftain then corroborated this statement from the then VP..
Infact it is on record that fuel prices changed more than 6times during that regime.
The then govt of Buhari said there weren't paying subsidy for every fuel brought into the country, that's why they cloned the term UNDER-RECOVERY for the low price Nigerians were buying against what our neighbours from other countries were buying.

You and I know that what was happening under Buhari was Sakamanje which was why we had a lot of confrontation with his supporters then who unfortunately are also Tinubu supporters now.

But, unlike Buhari, Tinubu has truly removed subsidy and that’s why a private business like Dangote Refinery can sell fuel at its own rate without looking to government to pay it any shortfall (subsidy).

It is tough on us. But it’s a necessary pain we must have to see through so that we don’t have to ever go through it again.

Again, I doubt any entity is getting dollar below the CBN rate is only marginally different from the black market rate unlike what used to be obtainable before.

Obaaderemi2:
Who stopped you from protesting now? You can as well take to the streets like BAt and his followers did.

Why did Jonathan cave in if he was truly serious about it? Did you know that it wasn't only tinubu who said he would remove subsidy? Atiku and obi said same thing. Under pdp the subsidy thing was an absolute mess. They were just cashing out anyhow, even worse than buharis time. Wo, they're all thieves but at least this one seems to have a plan that can favour Nigeria's future

Bat is a greedy oaf. That he took to the streets does not mean everyone else is evil like him, chasing selfish agenda and disguising it as fighting for the common good.

Pdp was also gradually removing subsidy without impovershing the masses. Now, it is bat and his cronies that are benefitting from the subsidy removal.

That atiku and obi said they would remove subsidy does not mean they would have done it in such an incompetent manner as bat, and if they did, I am sure you and bat would be the first to carry placards to achieve selfish aims.

Bat favour nigeria's future? You are seeing socio-economic conditions worsen before your very eyes, yet you say bat has a plan... what plan? To make Nigerians poorer while he and his cronies become richer at the expense of the masses?

Keep excusing the incompetent and greedy oaf. You also did same for buhari, so no surprises.

Penguin2:
You and I know that what was happening under Buhari was Sakamanje which was why we had a lot of confrontation with his supporters then who unfortunately are also Tinubu supporters now.

But, unlike Buhari, Tinubu has truly removed subsidy and that’s why a private business like Dangote Refinery can sell fuel at its own rate without looking to government to pay it any shortfall (subsidy).

It is tough on us. But it’s a necessary pain we must have to see through so that we don’t have to ever go through it again.

Again, I doubt any entity is getting dollar below the CBN rate is only marginally different from the black market rate unlike what used to be obtainable before.

Before when?
During Gen, CBN rate was 197, black market was between 200 n 207...

It was during the Buhari that Tinubu was praising all through his 8 locust yes, he is now putting blame on him..
I

ivandragon:
Bat is a greedy oaf. That he took to the streets does not mean everyone else is evil like him, chasing selfish agenda and disguising it as fighting for the common good.

Pdp was also gradually removing subsidy without impovershing the masses. Now, it is bat and his cronies that are benefitting from the subsidy removal.

That atiku and obi said they would remove subsidy does not mean they would have done it in such an incompetent manner as bat, and if they did, I am sure you and bat would be the first to carry placards to achieve selfish aims.

Bat favour nigeria's future? You are seeing socio-economic conditions worsen before your very eyes, yet you say bat has a plan... what plan? To make Nigerians poorer while he and his cronies become richer at the expense of the masses?

Keep excusing the incompetent and greedy oaf. You also did same for buhari, so no surprises.

Which one of them is not a greedy oaf? Is it Atiku that stole Nigeria blind as VP or obi whose people were raining curses on him when he was governor?

That should tell you they're all the same. But removing the subsidy and stopping naira support are the right policies right now to put Nigeria on track. In the last two years the economy has grown though slowly and investors are coming back. Check the stock exchange data. Food inflation and general inflation are coming down. Unless you want to deceive yourself, then you will accept the fact that the political class will not cut its own emoluments. They don't.

Penguin2:
After 2 years of Tinubu’s administration, it’s now time to properly rate him. And in this piece, I’m going to set aside my dislike for him and his values, and focus only on his actions so far as president; particularly on the reforms he has engineered since he came to power.

FUEL SUBSIDY: “Fuel Subsidy is gone” was part of the last phrases he uttered on his Inauguration Day and since that day till date, Nigeria has not remained the same. Fuel price ballooned to the roof and with it the cost of transport and essentials rose astronomically almost beyond the reach of an average Nigerian. But was he wrong? No.

Like we all heard them say, the 3 major candidates in the 2023 presidential election all promised to remove fuel subsidy once they get into office. What some have argued is that there may have been differences in “how” they would have gone about it. But Tinubu chose to go about it the way he did and we are here today.

Now, let me make an analogy of this fuel subsidy thing and how what we are going through is a necessary pain that is needed to set Nigeria on a solid foundation that nothing much will ever shake its roots again.

Take Nigeria as a child in oxygen support in a hospital. Now, he has been in the oxygen support for years draining the finances of his family members; both the father, mother, siblings and even extended family members. Now, at a time, the family complained to the doctor that they no longer have money to continue to pay for the boy’s oxygen support. They advised the doctor to remove the oxygen tank and allow the boy to breathe on his own. The doctor agreed. But each time the doctor removes the oxygen, the boy starts to struggle with breathe as though he is about to die. On the other hand, however, the family is always relieved of the expenses that comes with paying for oxygen. But not longer after, they would have to continue the expenses again because they can see their boy struggling for air and they don’t want him to die. Until one day another doctor came. And seeing how long the boy has been in oxygen, and the financial strain it has caused his family, advised the family to allow him remove the oxygen pipe and be ready for two things - it’s either the boy struggles for breathe until he dies or he struggles for breathe until he stabilizes and can now breathe on his own. The result is that the family is saved a huge cost and they can now channel that money into the training of their other children in school, payment of house rent and other bills. The boy too benefits as the family will no longer see him as a burden while he begins to heal naturally.

The above, I believe, best captures the situation Nigeria was in with fuel subsidy and why it needed to go. The grouse I have always had with Tinubu and his supporters is that they knew Jonathan was doing the right thing when he removed this same subsidy in 2012 but they went ahead and almost shutdown the economy; only for them to come back more than 10 years later to do the same thing. That’s hypocrisy.

EXCHANGE RATE UNIFICATION: With what was obtainable in the previous exchange rate, you had Alhajis that were making billions on daily basis by getting dollar from CBN at official rate and selling to the populace at the so called “black market” rate. The unification eliminated this and took the economy of Nigeria to the right foundation where it belongs and not on bubbles that was sustained by constant pumping of dollars just to maintain a lie.

Right now, Nigeria is no longer living on bubbles and lies. Where you see us today is where we truly belong.

TAX REFORMS: The next thing Tinubu has done is tax reform. I read an analysis that said some of our tax laws are as old as 1948. That is grossly outdated and it is right that we have a tax administration law that is informed by the 21st century realities. If anything, a lot of countries with no minerals and all, survive only on what they generate through tax. So, Nigeria should not be an exception. We are making money from oil and other minerals resources, yes, but we can make even more money by also reforming our tax laws to make for more money to be generated through tax and also make Nigeria’s federating units start to see governance as business; that they would have to make their states friendly for investors to come in so they can generate tax.

REGIONALISM: He has not done it, but he will do it. In fact he already started by getting the Supreme Court to rule that governors no longer have the powers to sack elected LG Chairmen.

The next stop is State Police which is already in a concluding stage which will enable states to take charge of their own security and no longer what is presently obtainable.

Then he’s likely to move to resource control where powers will be given states/regions to control their resources and contribute some percentage to the center instead of the current configuration where the center owns everything and gives piecemeal to the regions.


In all of these, only a president like Tinubu who doesn’t care much about his popularity could have done this.

A Peter Obi, who would not have wanted to see his popularity diminish, would not have removed fuel subsidy in full so the people won’t suffer. But Nigeria would have lost instead. Also a Peter Obi would not have initiated the kind of Tax Reform Bills that Tinubu initiated lest the north say “we said it that you should never trust an Igbo man with power.”

An Atiku, a northerner, would not have unified the exchange rate as most beneficiaries of the dichotomy that was previously obtainable were his kinsmen. He would not have dared to remove food from the mouth of his people. Also, an Atiku would not have initiated the tax reform bills especially the part that talked about derivation as most of the states in his region are more interested in destroying beer bottles than they are in creating a conducive environment for investors to come in and establish any meaningful business or industry.

So, in all, only Tinubu could have initiated these necessary reforms that truly have long term benefits for the country even though it comes with a lot immediate pain.

Just maybe, Tinubu was a necessary Saul that needed to come before David; like Pastor Paul Adefarasin said days before the 2023 presidential election.

Penguin is a bird of reason!

Mynd44
Fergie001
Nlfpmod

Today I see one Obidient who is objective and didn't allow ethnic interest to cloud his memory.

Some of us who support Tinubu still criticize some of his actions but we do so with sincerity of heart and not because our candidate lost an election.

Personally I expect Tinubu administration to have put a mechanism in place to monitor the spending of increased revenue to the state. Many of these governors simply pay salaries and the use the balance to buy dollar, that's the reason why naira has not appreciated despite the fact that Nigeria no longer buy imported fuel with scarce dollar.

The second area am not pleased with the administration is the continual attempt to tolerate the inefficiency of the disco, I expect the government to have revoked license of many of the discos who have performed abysmally to serve as a deterrent to other, Nigerians should not be made to suffer inefficiency of a private company.

In general, this is a government that have embarked on a necessary reform in Nigeria since I was born

Obaaderemi2:
Which one of them is not a greedy oaf? Is it Atiku that stole Nigeria blind as VP or obi whose people were raining curses on him when he was governor?

That should tell you they're all the same. But removing the subsidy and stopping naira support are the right policies right now to put Nigeria on track. In the last two years the economy has grown though slowly and investors are coming back. Check the stock exchange data. Food inflation and general inflation are coming down. Unless you want to deceive yourself, then you will accept the fact that the political class will not cut its own emoluments. They don't.

You are the one living in delusion and self denial.

Keeping hiding under atiku and obi's skirts to justify the incompetence and greed of bat.

Which economy has grown? Because they keep funneling funds to thier businesses you think businesses are growing?

Look at most FMCG companies, they seem to have increased revenues, but the sales are far lower. Increasing prices of goods and services without commensurate increase in sales and capacity utiliasation is not a sound strategy.

You keep excusing the political class for its greed, but somehow think it is OK for the masses to accept the continued deterioration of thier socio-economic conditions... does that make any sense to you?

Like I said, you and your kind gave the same excuses for buhari, so no surprises.

Obaaderemi2:
Which one of them is not a greedy oaf? Is it Atiku that stole Nigeria blind as VP or obi whose people were raining curses on him when he was governor?

That should tell you they're all the same. But removing the subsidy and stopping naira support are the right policies right now to put Nigeria on track. In the last two years the economy has grown though slowly and investors are coming back. Check the stock exchange data. Food inflation and general inflation are coming down. Unless you want to deceive yourself, then you will accept the fact that the political class will not cut its own emoluments. They don't.

which stock exchange.
Why are guys like this now. Dollar to naira as at last week was 1630

ivandragon:
You are the one living in delusion and self denial.

Keeping hiding under atiku and obi's skirts to justify the incompetence and greed of bat.

Which economy has grown? Because they keep funneling funds to thier businesses you think businesses are growing?

Look at most FMCG companies, they seem to have increased revenues, but the sales are far lower. Increasing prices of goods and services without commensurate increase in sales and capacity utiliasation is not a sound strategy.

You keep excusing the political class for its greed, but somehow think it is OK for the masses to accept the continued deterioration of thier socio-economic conditions... does that make any sense to you?

Like I said, you and your kind gave the same excuses for buhari, so no surprises.

You are not making sense at all. Okay, should subsidies be brought back then? Yes or no? Since that's why most of you are crying

delkuf:
which stock exchange.
Why are guys like this now. Dollar to naira as at last week was 1630

Our stock exchange has never had it so good in recent years. If people don't trust the economy would they invest in it? These are the kind of things that helps a country's future. Not the lies we lived under the PDP and buhari. These policies are good. Everything will balance out but we need to start somewhere.

There is still hope...

Penguin failed to include "Borrowing to cushion the effects of subsidy removal".

Only Tinubu can do that too.

helinues:
Cherry picking like his principal

If those who matters are praising president Tinubu's for the reforms and policies, why should we take the opinions of those who might not even be relevant politically in their family seriously

who are those that matter that are praising the tinubu "for the reforms and policies"?

are they the people of the federal republic of nigeria as enshrined in the constitution?

if tinubu is being praised "for the reforms and policies", how come tinubu and even the ass licker that wrote the article have acknowledged that "the reforms and policies" are causing hardship?

do you praise someone for causinghardship?

May 1, 2025

May Day: Hunger, unemployment, insecurity real— Tinubu

According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”

On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.

Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.

https://www.vanguardngr.com/2025/05/may-day-hunger-unemployment-insecurity-real-tinubu/

https://www.youtube.com/watch?v=2XpHTTzBU7U

The result is that the family is saved a huge cost and they can now channel that money into the training of their other children in school, payment of house rent and other bills. The boy too benefits as the family will no longer see him as a burden while he begins to heal naturally.

in you flawed analogue you say the parent now have funds to train other children. No. The parents are embarking on luxurious lifestyle and having concubines around. Highway from lag to Calabar is not expedient but is being funded.

Ofunaofu:
The removal of the subsidy without any plans to cushion its effects on Nigerians was the most wicked and draconian decision ever made by a president of Nigeria

Nigerians will never forgive him for that decision even after he leaves office and many years to come.

Removing fuel subsidy is one thing, the political will to remain resolute is another, Jonathan lacked the political will. He could have stood his ground just like Tinubu even if heaven was going to come falling. .

No gut, no glory Jonathan lacked the will to stand his ground that’s what makes Tinubu different from Jonathan

Edo state governor illegally removed elected local government chairmen and their vices and nothing has happened even though a court has since reversed it, the governor has remained defiant just as Tinubu watch on. Every other thing written here has no substance just as the regionalism you talked about

Obaaderemi2:
Our stock exchange has never had it so good in recent years. If people don't trust the economy would they invest in it? These are the kind of things that helps a country's future. Not the lies we lived under the PDP and buhari. These policies are good. Everything will balance out but we need to start somewhere.

how has the status of the stock exchange and the "good policies" improved the living standard of nigerians?

are nigerians now better off because of stock exchange and tinubus policies?

how has tinubu used his policies and stock exchange to successfully tackle corruption, nepotism, cronyism, hunger, unemployment, hardship, poverty, inflation, wasteful government spending, budget padding, insecurity, bad governance, failing public infrastructure, poor medial services and falling standard of education?

pimplucious:
Removing fuel subsidy is one thing, the political will to remain resolute is another, Jonathan lack the political will. He could have remained resolute just like Tinubu even if heaven will fall.

No gut, no glory Jonathan lacked the will to stand his ground.

what benefit accrues to nigeria and nigerians by removing fuel subsidy?

Borrowing and swindling reform ba

Ttalk:
Today I see one Obidient who is objective and didn't allow ethnic interest to cloud his memory.

Some of us who support Tinubu still criticize some of his actions but we do so with sincerity of heart and not because our candidate lost an election.

Personally I expect Tinubu administration to have put a mechanism in place to monitor the spending of increased revenue to the state. Many of these governors simply pay salaries and the use the balance to buy dollar, that's the reason why naira has not appreciated despite the fact that Nigeria no longer buy imported fuel with scarce dollar.

The second area am not pleased with the administration is the continual attempt to tolerate the inefficiency of the disco, I expect the government to have revoked license of many of the discos who have performed abysmally to serve as a deterrent to other, Nigerians should not be made to suffer inefficiency of a private company.

In general, this is a government that have embarked on a necessary reform in Nigeria since I was born

which Tinubu administration are you expecting to have put a mechanism in place to monitor the spending of increased revenue to the state?

has tinubu shown accountability himself in managing the finances of nigeria despite being an accountant?

what makes you think tinubu gave governors more money because he cares about the development of states?

i thought Binance was responsible for the depreciation of the naira. how come you are now blaming the governors?

what are the necessary reforms that you say this government has embarked on?

Obaaderemi2:
Our stock exchange has never had it so good in recent years. If people don't trust the economy would they invest in it? These are the kind of things that helps a country's future. Not the lies we lived under the PDP and buhari. These policies are good. Everything will balance out but we need to start somewhere.

where is the money. Why is dollar still high. If the stock exchange of a country is doing well that country exchange rate will do well.

But in Nigeria because of propaganda, we have a stock exchange getting low and the exchange rate increasing.
I dont know how they got such indix.

I supported subsidy removal in 2012.

That was the best time to do it.

The next best time was when Tinubu removed it in 2023.

Nigerians are too desperately corrupt, greedy and unpatriotic to enjoy almost any kind of subsidy

SarkinYarki:
Tinubu has not improved a single economic or social index in 2 years , I mean not a single one , all he has done is to make life worse in Nigeria

What indexes are u inferring?

Seriously only have the mind to do it no other person can take such bold step and I sincerely respect him for that.

China did it and went down to zero for few years but by the time they bounced back hey rule thee world till date.

India did it and bounced back today they can tell a better story at least fair enough, so Nigeria doing it to destroy so many unecessary issues, dismantling quota system, dismantling thee demonic subsidy and so on is a good decision regardless the economy hardship.

No pain nno gain, enough of living in pretence let's face the reality, conquered it and move on.

Penguin2:
EXCHANGE RATE UNIFICATION: With what was obtainable in the previous exchange rate, you had Alhajis that were making billions on daily basis by getting dollar from CBN at official rate and selling to the populace at the so called “black market” rate. The unification eliminated this and took the economy of Nigeria to the right foundation where it belongs and not on bubbles that was sustained by constant pumping of dollars just to maintain a lie.

Right now, Nigeria is no longer living on bubbles and lies. Where you see us today is where we truly belong.

Finally, someone that gets it.

I don't agree on subsidy removal though. It was the theft that made it balloon. They should have tackled that. Or wait a bit for local refining to come on stream. Or take measures to protect the most vulnerable. And much of the gains made from it have been seriously undermined by inflation.

WizardOfNG:
Like Yakubu Dogara. He is 57 now and will be 63 in 2031.

It's going to be a green horn, someone you have never heard of and definitely a technocrat.....tinubu would never trust handing over to another politician and dogara is a dyed in the wool one.

SarkinYarki:
Tinubu has not improved a single economic or social index in 2 years , I mean not a single one , all he has done is to make life worse in Nigeria

When all the candidates are saying they will remove subsidy in first day of office you guys were clapping. Indeed una be the mumu coz you don’t know the effect. PBAT said no matter how you protest he will remove subsidy and you think he does not know it will result to this situation we are right now.

Obaaderemi2:
You are not making sense at all. Okay, should subsidies be brought back then? Yes or no? Since that's why most of you are crying

You have no sense and have refused to have any.

It is about how the issue has been managed, its negative impact on the socio-economic conditions of the masses and the hypocrisy of those you so cherish and make excuses for thier greed. It was senseless to remove subsidies and devalue the currency at the same time without making adequate provision for the expected shocks.

Like I said, people like you also justified the incompetence of buhari, so nothing new.

Penguin2:
Fantastic submission!

But the only difference here is that while in my analogy, the parents of the child is permanent, in practice, as it relates to Nigeria, the parent (president) is not permanent.

So, while we may currently have a parent who, instead of using the money saved from the removal of the oxygen pipe from our sibling in the hospital for the good of the family chooses rather to use the money to take concubines, buy cars and engage in several other profligacies, tomorrow we may get a parent who is not like the current one and he will use the money judiciously for what it should be used for.

And then the only gratitude we will owe our former parent was having the courage to see through the removal of oxygen pipe from a sibling who had rendered all of redundant.

The removal of the subsidy was a bad decision but the simultaneous floating of the naira was worse.

What should have been addressed was the corruption in the subsidy regime..