₦airaland Forum

Heffalump:
What is good news here? Good news that can't reduce the price of garri in Oliha market, is that one good news? No sane person believes the many lies of APC again. FX reserve they claimed is increasing today, tomorrow you see it depleting again. Shame on you people.

HisaacPlus:
Nigeria’s Presidents and FX Reserves: A 2007–2025 Timeline

#TheCableIndex

TimeManager:
The Federal Government has revealed that the elimination of the petrol subsidy under President Bola Tinubu has resulted in savings of over $84 billion, which are now being channelled into the construction and rehabilitation of 40 key road projects across the country over the past two years.

This was disclosed in a policy brief released by the National Orientation Agency (NOA), titled “Two Years Later: Key Benefits of Subsidy Removal,” and made available to journalists over the weekend in Abuja.

The report, which reviewed the outcomes of the subsidy removal since May 29, 2023, noted that the policy averted a looming economic crisis.

It also enabled the Tinubu administration to clear long-standing financial liabilities, increase capital investments, and support the financial stability of state governments.

https://businessday.ng/news/article/84bn-saved-from-petrol-subsidy-now-financing-40-key-roads-report/?amp

Image123:
Goodluck Jonathan, a total disgrace in truth. That man finished us patapata with no clue.

thisweekng:
The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.

He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.

He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.

“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.

“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Private sector to drive the economy

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

HisaacPlus:
Nigeria’s Presidents and FX Reserves: A 2007–2025 Timeline

#TheCableIndex

Adebaba1:
I still say we need to give tinubu more time...a new government will change the economic trajectory which can be detrimental

Ifyz0001:
Money that could have been used to issue low interest rate loans to encourage production is tied up in reserves.

Jonathan then was more of giving loans than Tinubu is now. And if you compare the value of reserve Jonathan held is even more the value Tinubu is holding now. Jonathan was focusing more on production than

Tinubu is doing now.

Jonathan administration was like someone who was borrowing money to show off while Tinubu 's regime is like someone who is bent on managing what he has. With time, that borrower will be so neck deep in debt that he would think of suicide while the one that knows how to manage what he has will grow into something big. I didn't vote for Tinubu in 2023 but he will surely have my vote in 2027, by God's graces

Can you easily access loans and grants now as compared to Jonathan administration?

The increased reserves is meant to defend the naira Tinubu himself devalued. Can you compare the price of naira now to what it was then during Jonathan?

Please research and you at yourself and people close to you if they are better off now than they were during Jonathan, before praising Tinubu.

Because whatever Tinubu does is supposed to improve the economic well-being of Nigerian generally and not just his cronies.


So the question is even with the increased fx reserves are nigerians better off now, than when it was Jonathan's administration?

Before you start writing rubbish here.

Ttalk:
Our past leaders didn't try at all, imagine reducing 40b during Yaradua tenure to 35b during Buhari , spanning over 15years of wastefulness.

Tinubu is just a God sent otherwise the economy would have collapsed completely

anonimi:
Since you have no clue about what this is about, why don’t you ask ebilokan’s finance minister to help you out

tompat86:
This expository fiscal graphology is a macabre danse macabre of our forex palpitations, a kaleidoscopic chronicle of presidential custodianship vis-à-vis our economic umbilicus! From Yar’Adua’s ambivalent commencement at $43.48bn, to Jonathan’s cataclysmic haemorrhaging to $29.59bn, Buhari’s Janus-faced leapfrogging to $45.09bn and subsequent decrescendo to $35.15bn, now telescoping into Tinubu’s modest transmogrification upwards at $41.05bn — it is manifest that Nigeria’s reserves have been a victim of policy somersaults, prebendal predilections, and petro-dollar schizophrenia.

In sum, what we are witnessing is a quagmire of oscillatory fiscal perambulations, a testimony that without economic rectitude, we shall continue to waltz in the labyrinth of financial Sisypheanism!

Image123:
Because there was more than enough and it should have been built then, not gobbled up.

We were not born 5 years ago. If you don't remember, or choose not to, we do.

anonimi:
Ratio of public to private schools in Lagos State is one to 22 ― Commissioner
September 4, 2022

The Lagos State government has said the ratio of public to private schools at both primary and secondary school levels in the state is one to 22.

The state’s Commissioner for Education, Mrs Folasade Adefisayo, gave the revelation in her remark at the 2022 edition of the Total School Support Seminar Exhibition (TOSSE) held at Oregun in Ikeja between Thursday and Friday.

https://tribuneonlineng.com/ratio-of-public-to-private-schools-in-lagos-state-is-one-to-22-%E2%80%95-commissioner/

mannobi:
The statistics favour emilokan to be candid but the citizens are complaining

Apel147:
Only Buhari and Tinubu performed better in this regards but those who have been bitter since 2015 would tell you how a good leader GEJ was even with many other indices and analysis!
Fear Nigerians and hypocrisy..

Racoon:
Those who worsened Nigeria's woes are always well known

nedekid:
Bros, today I went with my kids to ikeja, we decided to stop by shopright as we had not been there for sometime. Omo, my jor dropped, have any of you guys been there lately? That place tells the tale of this economy under apc, buhari and how current oga at the top finally rubbed the icing on the cake ie the "finish him" move. That section we use to buy steak, sausages ie the butchery all gone, shelves that use to be full all empty. The bakery deserted, infact we left without buying anything, at the door the security lady asked if we did not help them buy something, security before that will harass you for receipt now pleading for us to buy, maybe so they will see salary.
We entered iPhone shop, 16 promax 3m+, the cheapest one was my daughters type ie 13 for 900k+.
Samsung store nko, phone of 3m, money we use to use to buy brand new car 10-12 years ago before this apc charlatans seized power.
Oga what hit me the most was the cherry motors stand, one small car had price of 45m, the other 75m! 10 years ago even to see a house worth 45m you had to go to lekki and na mansion, now you talk of a Chinese entry level car for 45m? At our level and age in life anywhere in the world if this country had its act together, we should be riding at least a S class Mercedes or BMW 7 series, not the one one is looking at Chinese car that we cannot afford.
My point is that this people talk of reserves being the highest, they talk of how well they are doing, but there reality is they have plunged we ordinary Nigerians into deep poverty, destroyed our purchasing power to the extent even if you earn 2m monthly you cannot buy the cheapest brand new car. Even if you earn 1m monthly you cannot afford to buy a 22 year old 2003 camry big daddy that sells for 7.5-8m. Is this not weaponised poverty on a mass scale?
Where is the trillions from subsidy removal, why has naira not appreciated to store up our purchasing power?
What baffles me is those on this forum that have not fed 3 square meals today, those who will never know the smell of driving a brand new car in their lifetimes are the ones singing the praise of the current misfits.

TheGoodJoe:
The stats won't tell you the other government were subsidizing light, education, petrol and exchange rate. This government is doing none and want to brag.

frog12:
how much be the chinese redmi phones? or tecno?
who go buy phone for 900k ?

PDPdestroyer:
This infographic is wrong. Our net reserves as at when Tinubu came on board was just over $3bn

nedekid:
Lol, na so.

aylipple:
Nigeria’s economy has been reduced to the price of rice and other food staples in the market that’s why even with this data staring us in the face, some people won’t still believe that the successive administrations since 2015 faced difficult times.

For e.g under GEJ, Nigerian crude oil in the int’l market sold for an average of $99/barrel over a 5year period yet, without any significant investment in infrastructural renewal, our FX reserves were heavily depleted. As if that wasn’t enough, that administration was taking foreign loans mostly to pay salaries and settle other recurrent expenditures.

Under PMB (now late), his administration for most parts of it saw crude oil being sold for average of $58.3/barrel over 8yrs. Not to mention that his administration faced COVID that many nations of the world are still reeling in its aftermath effect over 5yrs later.

Yet, that administration with all its faults and “poor” handling of the economy, embarked on a massive infrastructural drive like never before seen in our history for decades. Is it the massive investments in our armed forces? The completion of the Abuja-Kaduna & Itakpe-Ajaokuta-Warri SGR? Man successfully delivered the Lagos-Ibadan SGR from start to finish; the Second Niger Bridge from start to finish; new airport terminals in PH, Kano, Abuja, Lagos and so many other legacy projects too numerous to mention. Of course, many of these projects were realizable due to loans as well but because of the way the economy was handled, many Nigerians still viewed his administration as a disaster due to how prices of goods and services skyrocketed.

Same thing is playing out now under PBAT that while the numbers show the economy is stabilizing (just like Dr. NOI of the WTO affirmed with the advise for more effective measures to be put in place to cushion the effects of the administration’s policies), the effects of those +ve stats are yet to be felt by majority of Nigerians.

The current admin has been able to increase our FX reserves even amidst paying off some inherited loans/debts in billions of $$ but until the prices of food commodities, cost of transportation & cost of living in general is brought down to a reasonable level, all these stats will just be flying over the heads of Nigerians.

nedekid:
What baffles me is those on this forum that have not fed 3 square meals today, those who will never know the smell of driving a brand new car in their lifetimes are the ones singing the praise of the current misfits.

aylipple:
Nigeria’s economy has been reduced to the price of rice and other food staples in the market that’s why even with this data staring us in the face, some people won’t still believe that the successive administrations since 2015 faced difficult times.

For e.g under GEJ, Nigerian crude oil in the int’l market sold for an average of $99/barrel over a 5year period yet, without any significant investment in infrastructural renewal, our FX reserves were heavily depleted. As if that wasn’t enough, that administration was taking foreign loans mostly to pay salaries and settle other recurrent expenditures.

Under PMB (now late), his administration for most parts of it saw crude oil being sold for average of $58.3/barrel over 8yrs. Not to mention that his administration faced COVID that many nations of the world are still reeling in its aftermath effect over 5yrs later.

Yet, that administration with all its faults and “poor” handling of the economy, embarked on a massive infrastructural drive like never before seen in our history for decades. Is it the massive investments in our armed forces? The completion of the Abuja-Kaduna & Itakpe-Ajaokuta-Warri SGR? Man successfully delivered the Lagos-Ibadan SGR from start to finish; the Second Niger Bridge from start to finish; new airport terminals in PH, Kano, Abuja, Lagos and so many other legacy projects too numerous to mention. Of course, many of these projects were realizable due to loans as well but because of the way the economy was handled, many Nigerians still viewed his administration as a disaster due to how prices of goods and services skyrocketed.

Same thing is playing out now under PBAT that while the numbers show the economy is stabilizing (just like Dr. NOI of the WTO affirmed with the advise for more effective measures to be put in place to cushion the effects of the administration’s policies), the effects of those +ve stats are yet to be felt by majority of Nigerians.

The current admin has been able to increase our FX reserves even amidst paying off some inherited loans/debts in billions of $$ but until the prices of food commodities, cost of transportation & cost of living in general is brought down to a reasonable level, all these stats will just be flying over the heads of Nigerians.