₦airaland Forum

[quote author=Penguin2 post=135585526][/quote]A very biased analysis by a Tinubu a$$ licker.

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

Seriously? You know anyone that matters besides Nigerians? Mtcheeew.

Written by another psychopath.

ivandragon:
I am talking about the political class. Have you seen any political office holders cut down on expenses?

You talk about subsidy thieves and forex manipulators, why hasn't the government gone after the economic saboteurs? Was it the masses that were manipulating the subsidy and forex markets?

Where buhari and bat better when they were in the opposition? Given thier antecedents, did they show any sign of liking the masses?

Anyway, usual excuses for incompetence and greed...

Almighty USa has been waging wars against narcotics since the 60's ,have they been able to win it by curbing drug smuggling......Europe has been fighting illegal migration longer than I can remember,have they been able to curb it.....the only solution we had was to stop it in its entirety so everyone exploiting that space can go look for something else to do

He should think on how to make Nigeria productive like China ...Not opening shop and be selling Guguru and Epa..real productivity ...25% of Nigeria productive population are selling not producing. Because the environment isn't conducive for optimal productivity except you want to create your own infrastructure.. so Government should provide cluster zones and the needed infrastructure.

[quote author=Penguin2 post=135585526][/quote]You no get sense sha. And the real problem is when a person wey no get sense no sabi say e no get sense.

Peter Obi would have removed subsidy but will he buy bullet proof cars for lawmakers? No. Will he renovate a building that is already standing with billions Naira? No. To summarize, will he lead a government that has impoverished Nigerians to the extent that people can't buy yam again, No. And you dey here to cap rubbish!

Like I said, you no get sense sha.

Ewu!

surgical:
That decision is a reckless decision which is very callous and insensitive
Those allegations about not going to school might be true after all,
He just make decisions without proper thinking or research
He thinks power is by showing you are in charge and can do anything, I am the boss kind of thinking
Now see the results

We know that when Tinubu assumed office, 97% of our income was being used to service debt leaving only 3% to fund government activities. We were borrowing to pay subsidies, we were borrowing to pay salaries, we had less than $3b in reserves. Oil production was about 1m bpd and of that about 300k barrels had been sold forward.

It’s understandable being emotional and angry but all I ask if you can kindly tell us how you expected him or any incoming president to fund the government and the petrol subsidies or how the hardship could have been avoided. Simple question!

DeepSight:
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..

I think this view is based on the error that the exchange rate crisis was caused by the "floating". It was not. The naira was propped up by stilts under the Buhari-Emefiele administration.

DeepSight:
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..

.

Thanks for this...

There is simply nothing wrong with Subsidy...

Its the Nigeria version laddened with corruption that is the problem.

Instead of BAT to tackle the corruption aspect with the Elites.

He shifted the burden on the Masses... We should take the pains....

surgical:
That decision is a reckless decision which is very callous and insensitive
Those allegations about not going to school might be true after all,
He just make decisions without proper thinking or research
He thinks power is by showing you are in charge and can do anything, I am the boss kind of thinking
Now see the results

You go wail tire. The decision has been made and there’s nothing that will change it

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

any cushioning of the subsidy will cost just as much of the subsidy.

Sangoamadioha1:
Nigerian masses is the child (according to your analogy), you removed the oxygen helping that child breathe to save money to buy cars and boats. Even after removing the oxygen to save cost, you still borrow money and there is no meaningful change in your household, so what is the use of depriving that child the oxygen it needs to survive.
That child needs the oxygen to survive while the doctors treat the child so that he would no longer need the oxygen to survive. Only an irresponsible parent would watch their child suffer while the parents are feeding fat from the money that was supposed to be used in bringing a little comfort to their child.

God bless you. He thought he was making sense with his childish analogy. Which good father would want to see his dying child continue to suffer while at the same time, he's empowering the already healthy ones to eat more and grow fatter? Tinubu is a bad president.

Penguin2:
Penguin is a bird of reason!

How does a brid of reason support a rogue who said he won't borrow due to subsidy savings but has increased loans more than Buhari did, just to loot and buy more luxury for himself while bribing politicians to keep himself in power for more APC shege that was fraudulently sold as change

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.

https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

Harnny:
any cushioning of the subsidy will cost just as much of the subsidy.

And what are they doing with the money they saved from the subsidy removal?—empower HOR members, senators, and governors while the masses continue to suffer. Is that how to remove subsidy?

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.

please stop this nonsense how can we be living large and criminal PDP and we are now living like babiya allah baggers under saint APC ?apart from tribalism and religion no normal human from Nigeria will support buhari or tinubu

Sangoamadioha1:
Nigerian masses is the child (according to your analogy), you removed the oxygen helping that child breathe to save money to buy cars and boats. Even after removing the oxygen to save cost, you still borrow money and there is no meaningful change in your household, so what is the use of depriving that child the oxygen it needs to survive.
That child needs the oxygen to survive while the doctors treat the child so that he would no longer need the oxygen to survive. Only an irresponsible parent would watch their child suffer while the parents are feeding fat from the money that was supposed to be used in bringing a little comfort to their child.

A Medal for You ...

bluecircle470:
You go wail tire. The decision has been made and there’s nothing that will change it

History will record for him ,he had opportunity to make a difference but wasted it,History will record him as a terrible president who took his country several steps backwards when he had opportunity to do better
As for you Mr suffering and smiling, the crumbs you are getting can never be enough to sustain you

samuelson06:
And what are they doing with the money they saved from the subsidy removal?—empower HOR members, senators, and governors while the masses continue to suffer. Is that how to remove subsidy?

this is why you should also take politics to the state. If the states and lg gets a boost in funds then hold them accountable as well not everything about the central government. These are the legal entities provided by the constitution for impacting the grassroots.

Harnny:
any cushioning of the subsidy will cost just as much of the subsidy.

Is it enough to justify why Tinubu allowed Nigerians to suffer?

ivandragon:
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.

Look at this one talking like an illiterate. That's what most illiterates said. We were printing and borrowing money to pay subsidies and support naira, so which one of the two should they have continued with? Both had to go. They would ruin Nigeria's future and create another Sri Lanka. Look at Lebanon and Argentina today. Is that what you want for Nigeria? Look, Nigeria is on track now.

Hold your governor too. He's receiving a lot of money now and should do something about food production. Everything is not about FG

Afonja007:
please stop this nonsense how can we be living large and criminal PDP and we are now living like babiya allah baggers under saint APC ?apart from tribalism and religion no normal human from Nigeria will support buhari or tinubu

Penguin2, come and educate this one too. Me I don tire to dey enlighten blockheads

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

According to @groks, The Tinubu-led administration in Nigeria implemented several measures to mitigate the economic hardship caused by the removal of the fuel subsidy in May 2023. Below is a list of key plans and actions taken to cushion the effects:

New Minimum Wage:The administration introduced a new national minimum wage of ₦70,000, signed into law in July 2024, to improve workers' purchasing power amid rising living costs due to subsidy removal. This was a significant increase from the previous ₦30,000 minimum wage.

Wage Award for Civil Servants:A provisional wage award of ₦35,000 per month was approved for federal civil servants, effective from September 2023, as a temporary measure to alleviate the impact of subsidy removal until the new minimum wage was implemented.

Conditional Cash Transfer Program:The government secured an $800 million World Bank loan to fund cash transfers to 12 million poor households, providing $10 monthly for six months to stimulate economic activity in the informal sector and improve nutrition, health, and education.

Infrastructure Support Fund for States:An Infrastructure Support Fund was established to enable states to invest in critical areas such as transportation and food distribution, with funds already disbursed to provide relief packages against rising costs.

Compressed Natural Gas (CNG) Buses Initiative:To reduce transportation costs, the administration introduced cheaper, safer CNG-powered buses, which operate at a fraction of the cost of petrol. Additionally, CNG conversion kits and training facilities were rolled out to create opportunities for transport operators and entrepreneurs.

Food Security and Agricultural Support:A state of emergency on food security was declared, with immediate actions including the release of grains and fertilizers to households to boost agricultural production and curb food price inflation. The National Food Security Initiative also distributed food to vulnerable groups in 11 states and the Federal Capital Territory since March 2024.

Consumer Credit and Student Loan Schemes:The Consumer Credit Scheme and the Nigerian Student Loan Fund were launched to ease financial burdens and support education, providing access to credit and educational opportunities for citizens.

Tax Reductions on Perishables:Importation taxes on perishable goods were removed to lower the cost of essential items and improve affordability for Nigerians.

These measures were designed to address the immediate economic challenges, such as inflation and increased transportation costs, while laying the groundwork for long-term economic stability through infrastructure and social welfare investments.

Penguin2:
[/quote]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.

Oga i totally disagree, base on trajectory we have seen Removal of Fuel subsidy is wrong. we were only decieved into thinking " fuel subsidy" is the liability holding us back when in actual sense developed progressive nations adhere to this forms of subsidy

our last disbursed fuel subsidy in 2023 was N3.6trillion, if we can sum up total amount looted and wasted on opulence by govt i am sure it will be over, besides subsidy can be rationed on % basis

In a country where fuel useage cut across on production line and businesses the essence of "fuel sibsidy" can not be undermined relative to ease of business operations.

FIY, fuel subsidy is the only benefit that touches every Nigeria, and from a holistic view the gains outweigh the negativity attached if transparently implemented

Since we have stopped Fuel subsidy what have changed and what have we gained infrastructure wise, as you and i aware " borrowing" still on the rise.

2yrs of no subsidy where are the gains, our Budget deficit nko does it make any sense

You are really a bird of reasoning......I love your piece, your analysis. I have never really visualized it that way before. However, it make much sense putting the pieces together. Probably, we have a Saul paving the way for a David to come over soon and follow suits on a good path. Thanks 👍



[quote author=Penguin2 post=135585526][/quote]

Ofunaofu:
Is it enough to justify why Tinubu allowed Nigerians to suffer?

with or without the subsidy, Nigerians will still suffer. It's a 3rd world issue. Tell me one African country where they are not suffering or struggling. Everyone is still working to get it right but the bubble in Nigerian needed bursting however that needs to be done. Like someone said. The hypocrisy is what does not make sense because this bubble should have been gone long ago since Jonathan but then. That's politics. Now we are building industries and refineries but if we continue to play cushion, there would never be funds to do anything and that collapse and suffering would have still occurred even longer and with much less reprieve.

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

There's quite a little hope for this country honestly. The way young people leave biting issues of today and tomorrow, to be making 10 years permutations of who shall be president is very worrisome.

Like in which other country of the world do they do this?

"Suffering and Smiling" is a disease that originated in Nigeria and has been ravaging the west African British colony for almost hundred years now...

Penguin is a bird 🐦,
Take the words of a bird seriously at your own peril!!!

Obaaderemi2:
Look at this one talking like an illiterate. That's what most illiterates said. We were printing and borrowing money to pay subsidies and support naira, so which one of the two should they have continued with? Both had to go. They would ruin Nigeria's future and create another Sri Lanka. Look at Lebanon and Argentina today. Is that what you want for Nigeria? Look, Nigeria is on track now.

Hold your governor too. He's receiving a lot of money now and should do something about food production. Everything is not about FG

Printing money is an abberation thats out of it , but if post subsidy removal we are still borrowing money at an alarming rate .. then borrowing money to subsidize fuel is better considering its impact on socio economic lives of Nigeria

Despite removal of subsidy and floating of naira, we are still defending the Naira "Fact" so whats the essence, so why cant we continue

post subsidy removal, Our budget deficit outweighs the previous ones.

Their is sumtin called assessment report, when you take an action you weigh the result. Business folding up n downsizing, excruciating hardship on the people, eroded purchasing power, as at today Tinubu cant boast of any capital project asides coastal road that will donkey years to complete.

what are we sacrificing for exactly