₦airaland Forum

nairalanda1:
Hate to be the guy.

Alright, tinubu is not running this country well.
That's my belief.

But the reason for our high debt is simple. Budgets rely on oil prices and oil prices since 2014-21 and 2022- date have been below 100 dollars per barrel. Most of the time it has been below 60 dollars per barrel. Result, we borrow or by now not one of us would have seen salaries in over 5 years.

If we want a budget without borrowing, oil has to be at 130 dollars and above per barrel for the year. Not going to happen.

Tinubu and buhari and apc are still bad leaders because they knew what should be done once oil prices fell. They didn't do it . Removing subsides totally, taxes, fighting corruption, diversification

All the income or revenue in the world will not matter if it is poured into a raffia basket of a government. They claim to have saved massively not subsidizing gasoline yet the economic indices does not reflect a 4 trillion a year bounce, why......waste. There is now more money to fritter away, unproductive spending, useless projects.

I will give you one example.
Wike built several bus parks in Abuja metro at astronomical cost. They have been completed for months. One will have expected that by now they will be operational so that they can begin to ROI to ease the need for more debts at that level. Instead they are proving to be black holes so far.

If the project had been a government partnership or private initiative the impact on public finances will be next to nothing but the operators of the economy don't think that way. For them it is all about contracting, taking their cut and moving on.

Tomorrow they will be back at FEC with another proposal, government wil put it in a basket of foreign loans and the cycle of mismanagement continues.

I ask again who decides how this economy is run. What government spends it's money on. That person should stand up and take responsibility.

So this country is owning this much and this man has the audacity to budget N2.5Trillion naira for RDC salaries? No capital projects, just salaries.

Reference:
Is MTEF the bible or some holy book that must be obeyed. Is it not the government that decided MTEF.

What they are saying is that the debt burden has become an existential threat to the survival of the country. The debt is fuelling the inflation that drives poverty and the result of poverty is worsening insecurity.

The government should find the ways and means to develop this country internally. And this starts by a radical change in the way it operates.

It should cease wasteful spending on unproductive so called legacy projects, trim to the barest minimum it's appetite for the award of contracts for all manner of things, rather effect the bulk of it's projects by direct labour and commercial partnerships.

And begin to implement the Oransanye report to trim government size. Our recurrent expenditure does not tally with the reality of our economy.

These are the ways to START a debt free life.

The MTEF is a borrowing plan, it's not likely to be borrowed but just a good way to plan just in case. Nigeria cannot attempt to be debt free at the moment. We don't make enough compared to what we need and spend, simple facts. As we speak, the US government is asking for voluntary contributions to help pay its debts. You can't need good roads, healthcare, rail, schools, hospitals and good salaries and not borrow in Nigeria's condition.

iwaeda:
Mallam Bolaji Abdullahi
National Publicity Secretary
African Democratic Congress (ADC)

this same saraki’s boy that was a minister under the APC buhari is accusing who, of what?

Reference:
All the income or revenue in the world will not matter if it is poured into a raffia basket of a government. They claim to have saved massively not subsidizing gasoline yet the economic indices does not reflect a 4 trillion a year bounce, why......waste. There is now more money to fritter away, unproductive spending, useless projects.

I will give you one example.
Wike built several bus parks in Abuja metro at astronomical cost. They have been completed for months. One will have expected that by now they will be operational so that they can begin to ROI to ease the need for more debts at that level. Instead they are proving to be black holes so far.

If the project had been a government partnership or private initiative the impact on public finances will be next to nothing but the operators of the economy don't think that way. For them it is all about contracting, taking their cut and moving on.

Tomorrow they will be back at FEC with another proposal, government wil put it in a basket of foreign loans and the cycle of mismanagement continues.

I ask again who decides how this economy is run. What government spends it's money on. That person should stand up and take responsibility.

exactly please go & blame the governor of your state, ask him what he did with the money he received from Abuja & the ones raised internally, how much of the state budget was executed?, what concerns u with the Governor of Kebbi or Ogun state?

The Governor of each state is statutorily empowered to provide for the welfare of his state.

Anyone looking 👀 to Abuja, does not understand the system of government, & democrazy we practice in the zoo.

fuckingAyaya:
during Jonathan's tenure you people at Ojota didn't tell us this. Jonathan took the blame alone so why trying to exonerate bulaba?

Who are you people? Even GEJ has moved on but you keep whining about your failures of over a decade? This is the difference between a leader that has will (political will) and clout and doesn't cower in the face of tough decisions. Also, timing matters than action in some cases. Removing a pot from the cooker 10 minutes ago may result in eating poorly cooked food, compared to removing it now. Same action, different time.
Maybe the people who didn't want subsidy removed in 2012 were not convinced of the need to remove it then. GEJ team was also busy stealing away everything from FAAC to SWF to ECA to FX reserves, according to the government officils that worked with him.

This is how the military comes into power, Nigerian politicians get carried away by looting and greed first , blinded by the need of the masses , while soldiers die and citizens

Image123:
The MTEF is a borrowing plan, it's not likely to be borrowed but just a good way to plan just in case. Nigeria cannot attempt to be debt free at the moment. We don't make enough compared to what we need and spend, simple facts. As we speak, the US government is asking for voluntary contributions to help pay its debts. You can't need good roads, healthcare, rail, schools, hospitals and good salaries and not borrow in Nigeria's condition.

So where are the good roads, rail, schools, hospitals and good salaries? Or are they also in the plan?
And stop insulting yourself
MTEF is determined by the size of govt deficit. So it's not just a plan. It's a plan on how to fix the deficit

Image123:
The MTEF is a borrowing plan, it's not likely to be borrowed but just a good way to plan just in case. Nigeria cannot attempt to be debt free at the moment. We don't make enough compared to what we need and spend, simple facts. As we speak, the US government is asking for voluntary contributions to help pay its debts. You can't need good roads, healthcare, rail, schools, hospitals and good salaries and not borrow in Nigeria's condition.

Lol, Mr. "Napoleon is always right."

Image123:
Who are you people? Even GEJ has moved on but you keep whining about your failures of over a decade? This is the difference between a leader that has will (political will) and clout and doesn't cower in the face of tough decisions. Also, timing matters than action in some cases. Removing a pot from the cooker 10 minutes ago may result in eating poorly cooked food, compared to removing it now. Same action, different time.
Maybe the people who didn't want subsidy removed in 2012 were not convinced of the need to remove it then. GEJ team was also busy stealing away everything from FAAC to SWF to ECA to FX reserves, according to the government officils that worked with him.

Ah!!
Imagine the image you're projecting
So it was not good to remove subsidy when the economy was much better?
So which team has stopped stealing FAAC, SWF and ECA? How much was ECA in 2015 and how much is it now?
How much is FAAC now and where's the impact?
Diaris God ooooo

Kukutente23:
Ah!!
Imagine the image you're projecting
So it was not good to remove subsidy when the economy was much better?
So which team has stopped stealing FAAC, SWF and ECA? How much was ECA in 2015 and how much is it now?
How much is FAAC now and where's the impact?
Diaris God ooooo

It's quite sad just watching people like him. Very very very sad.

Kukutente23:
So where are the good roads, rail, schools, hospitals and good salaries? Or are they also in the plan?
And stop insulting yourself
MTEF is determined by the size of govt deficit. So it's not just a plan. It's a plan on how to fix the deficit

Okay sir.

DeepSight:
Lol, Mr. "Napoleon is always right."

Lolz, Napoleon must borrow or where do you want him to get money for your wants?

Kukutente23:
Ah!!
Imagine the image you're projecting
So it was not good to remove subsidy when the economy was much better?
So which team has stopped stealing FAAC, SWF and ECA? How much was ECA in 2015 and how much is it now?
How much is FAAC now and where's the impact?
Diaris God ooooo

It's called political will and clout. If Tinubu wants to sell Nigeria today, he knows how to get the majority on his side to support it. GEJ's CBN governors, ministers, governors and legislative were not in agreement with him and his cabal. NOI, Sanusi and Amaechi the head of NGF forum all came out to complain about humongous corruption in the government. Not to mention what opposition had to say. Ask your state government what happened to the kobos he's received from FAAC this year and how much.

Image123:
Lolz, Napoleon must borrow or where do you want him to get money for your wants?

Do you know where the saying "Napoleon is always right" comes from, and who was saying it?

Reference:
All the income or revenue in the world will not matter if it is poured into a raffia basket of a government. They claim to have saved massively not subsidizing gasoline yet the economic indices does not reflect a 4 trillion a year bounce, why......waste. There is now more money to fritter away, unproductive spending, useless projects.

I will give you one example.
Wike built several bus parks in Abuja metro at astronomical cost. They have been completed for months. One will have expected that by now they will be operational so that they can begin to ROI to ease the need for more debts at that level. Instead they are proving to be black holes so far.

If the project had been a government partnership or private initiative the impact on public finances will be next to nothing but the operators of the economy don't think that way. For them it is all about contracting, taking their cut and moving on.

Tomorrow they will be back at FEC with another proposal, government wil put it in a basket of foreign loans and the cycle of mismanagement continues.

I ask again who decides how this economy is run. What government spends it's money on. That person should stand up and take responsibility.

It's not just a matter of income, it is a matter of the basis of our economy.

Our economy is so resource dependent that corruption in a way is even justified..lol. people steal with the idea the money would be replaced.

Meanwhile, an industrial economy can't have too much corruption. Things would be wrecked easily along with the economy

I made the point above because most Nigerians think in terms of oil money, not in terms of productivity.

Kukutente23:
So where are the good roads, rail, schools, hospitals and good salaries? Or are they also in the plan?
And stop insulting yourself
MTEF is determined by the size of govt deficit. So it's not just a plan. It's a plan on how to fix the deficit

Evidence?

DeepSight:
Do you know where the saying "Napoleon is always right" comes from, and who was saying it?

Errrrr, "is always right" is English. You don't need to read a book or know where it's coming from. Anyway, i assumed it can be from Animal Farm or the famous Bonaparte. Either way, my point and practicality is clear irregardless of innuendoes.

Image123:
Errrrr, "is always right" is English. You don't need to read a book or know where it's coming from. Anyway, i assumed it can be from Animal Farm or the famous Bonaparte. Either way, my point and practicality is clear irregardless of innuendoes.

Its from Animal Farm and it was uttered by the stallion Boxer as his maxim. He represented the working class - the suffering poor - who would always say that their oppressor, Napoleon the pig, who represented Stalin, was always right.

That is how I see you.

Image123:
ADC should stop misinforming people. This is not the route to winning elections. The MTEF contains the borrowing plan for both the Federal and State Governments for the next three years.

If Tinubu has borrowed up to this amount just in two years what about the abusive ways and means which is unaccounted for? This administration has shown fiscal irresponsibility and that you know.

MTEF doesn't guarantee careless borrowing to buy SUVs and marry new wifes.

Tochi3:


..a bullion van was allowed to snatch & grab..never expect any form of financial prudence from someone who dealt in Narcotics ..& uses bullion vans as part of his entourage..

..he has Lsgos in his pocket..& all the SW states in his grip..which he is extending all over the geographical expression..

..but his aim of state capture will fail before his very emi:;"lo,,:"kan eyes....

I wouldn't bet on that 'cos I can bet my bottom dollar that the man is richer than Nigeria already and he became so the minute we allowed him to be in charge of our treasury for just 2 months not to talk of 2 long years. You think say na wasa when his son and wife are regularly donating N1 billion of our money to states in the North just to buy their votes in 2027

If Nigeria escapes Tinubu's grip, it will be the miracle of the Century.

VladimirTheGrea:
If Tinubu has borrowed up to this amount just in two years what about the abusive ways and means which is unaccounted for? This administration has shown fiscal irresponsibility and that you know.

MTEF doesn't guarantee careless borrowing to buy SUVs and marry new wifes.

Kindly be objective. Ways and means was largely by the previous administration, not this. Also, i don't see which of the prominent/top government officials is not financially capable of marrying new wives if your next door neighbor can. Can you provide proof of where anyone married new wives or lavishly spent his money or MTEF money doing this?
Also quit straddling between Nigeria is so rich to need loans and hallucinating that every thing done by government is from loan.

aribisala0:
Evidence?

Why do you need evidence
Is it breakfast

Image123:
It's called political will and clout. If Tinubu wants to sell Nigeria today, he knows how to get the majority on his side to support it. GEJ's CBN governors, ministers, governors and legislative were not in agreement with him and his cabal. NOI, Sanusi and Amaechi the head of NGF forum all came out to complain about humongous corruption in the government. Not to mention what opposition had to say. Ask your state government what happened to the kobos he's received from FAAC this year and how much.

Reduce your lies abeg
When did NOI and Sanusi tell you they didn't agree with subsidy removal? Which gov in Nigeria will ever be against subsidy removal? Seems most of you don't even understand who the direct beneficiaries of subsidy removal are. Even Oshiomole who was notorious for always shutting the country down against fuel price increase during OBJ years supported subsidy removal as gov
The FG still receives lion share of allocation and it is FG that removed subsidy not states. So let's start asking questions from the big elephant not ants

Image123:
Kindly be objective. Ways and means was largely by the previous administration, not this. Also, i don't see which of the prominent/top government officials is not financially capable of marrying new wives if your next door neighbor can. Can you provide proof of where anyone married new wives or lavishly spent his money or MTEF money doing this?
Also quit straddling between Nigeria is so rich to need loans and hallucinating that every thing done by government is from loan.

So rich to need loans? Every nation needs money to run. The question is what do the leaders do with the money once it's in their hands? I guess you know.

They have bogus pensions. Politicians having pensions? Sweet severance packages at the expense of the Civil machinery. No clear cut industrial initiatives, just tax PLC. So they spend money to tax citizens to their neck. They borrow and bolt to Osborne road to own properties.

Are you saying I'm off the shoot by saying what I said. Tinubu's administration is careless with borrowings and it will lead to serious fiscal crises if not checked. You can't agree more.

VladimirTheGrea:
So rich to need loans? Every nation needs money to run. The question is what do the leaders do with the money once it's in their hands? I guess you know.

They have bogus pensions. Politicians having pensions? Sweet severance packages at the expense of the Civil machinery. No clear cut industrial initiatives, just tax PLC. So they spend money to tax citizens to their neck. They borrow and bolt to Osborne road to own properties.

Are you saying I'm off the shoot by saying what I said. Tinubu's administration is careless with borrowings and it will lead to serious fiscal crises if not checked. You can't agree more.

That's why i said you should quit the staddle and choose one, we are either rich or poor. Which one? You can't argue that we are rich and should not remove subsidies and should pay everybody well like Europe and America, and still argue that we're too poor to buy things or marry. i asked you for proof about marrying wives, none provided. What is done with the money is clearly in the MTEF and budget, READ. There's nothing wrong with pensions, do you have a problem with having a pension where you work? It's another thing to responsibly ask for better pension and packages for others. The current government doesn't borrow money for recurrent expenditure, kindly provide proof otherwise.
What is the meaning of industrial initiative? Are you aware that our GDP is expanding every year or those numbers are magic to you? Is Dangote refinery and fertilizer a joke to you? What of Imota rice mill and the tractors just urchased for agriculture across the country? There's being no chnge in tax so i wonder what you mean by tax PLC. Tax reforms begin implementation next year. Stop listening to radio biafra and its accomplices.

The ADC has decided to adopt Obi falsehood method .
The deliberately decideded to ignore that the naira was devalued from N460 to N1500.
and also mischievously refused to put it in dollar form

If we take this into consideration we will discover the debt has reduced from

Kukutente23:
Reduce your lies abeg
When did NOI and Sanusi tell you they didn't agree with subsidy removal? Which gov in Nigeria will ever be against subsidy removal? Seems most of you don't even understand who the direct beneficiaries of subsidy removal are. Even Oshiomole who was notorious for always shutting the country down against fuel price increase during OBJ years supported subsidy removal as gov
The FG still receives lion share of allocation and it is FG that removed subsidy not states. So let's start asking questions from the big elephant not ants

NOI, Sanusi and Amaechi the head of NGF forum all came out to complain about humongous corruption in the government. Not to mention what opposition had to say. We're speaking english here, not your local dialect.

Image123:
NOI, Sanusi and Amaechi the head of NGF forum all came out to complain about humongous corruption in the government. Not to mention what opposition had to say. We're speaking english here, not your local dialect.

I'm glad you recognise that we're speaking English
You claimed that Jonathan's period was not the right time to remove subsidy. You then gave examples of corruption complaint by officials of that govt as first reason why subsidy couldn't be removed
The fact is you confused yourself. Subsidy protests held in 2012 and Sanusi, NOI and even Amaechi were at the forefront of its removal. The two even attended different fora to explain the importance of the removal. Sanusi complained about NNPC in 2014. NOI wrote a book about corruption in 2015. Can you justify your claim about subsidy removal with these timelines?
If you want to lie, lie intelligently

Image123:
NOI, Sanusi and Amaechi the head of NGF forum all came out to complain about humongous corruption in the government. Not to mention what opposition had to say. We're speaking english here, not your local dialect.

SLS had no grounds, he was dishonest, kept giving conflicting figures and acted in very bad faith.

DeepSight:
SLS had no grounds, he was dishonest, kept giving conflicting figures and acted in very bad faith.

The point being that high level officials in the government were of the sentiments that the government was corrupt and poorly managed, not to mention the opposition. It's unlike the current government where they're in some sort of bond/unity to achieve what they want.

Image123:
That's why i said you should quit the staddle and choose one, we are either rich or poor. Which one? You can't argue that we are rich and should not remove subsidies and should pay everybody well like Europe and America, and still argue that we're too poor to buy things or marry. i asked you for proof about marrying wives, none provided. What is done with the money is clearly in the MTEF and budget, READ. There's nothing wrong with pensions, do you have a problem with having a pension where you work? It's another thing to responsibly ask for better pension and packages for others. The current government doesn't borrow money for recurrent expenditure, kindly provide proof otherwise.
What is the meaning of industrial initiative? Are you aware that our GDP is expanding every year or those numbers are magic to you? Is Dangote refinery and fertilizer a joke to you? What of Imota rice mill and the tractors just urchased for agriculture across the country? There's being no chnge in tax so i wonder what you mean by tax PLC. Tax reforms begin implementation next year. Stop listening to radio biafra and its accomplices.

You don't even know Nigeria is a paper tiger and you're busy looking at the stats on government papers ignoring the reality on ground.

Are you saying Tinubu's careless borrowings fall within the framework of MTEF? You must be sleeping on bike. With spiraling inflation and a very weak GDP and currently a weak economy with GDP per capita income at the lowest low, you're saying MTEF still has more sweet for Tinubu.

All you're saying is not shown or neither reflecting in the lives of Nigerians. Where is health care? Can Nigerians afford it with all the Grammer you spoke up there? OK. National health insurance scheme? Who's even getting that? I guess you know! Education? What's the average school fees today? You can say that. Where are the PPPs encouraged by Jonathan cause I'm not gonna talk about Buhari, he's another disaster maybe a better one. Are we talking about business environment which has made so many multi nationals pack up and yet Tinubu is borrowing money to build a fancy road why internal supply chain roads are ignored.

I can go on and on. But my point is, this administration is the worse and will end up the worse. Period!