₦airaland Forum

Reno please intervene, this is not true . They are dragging our government down.

marlow1962:
Who told you they're poor? They're not poor, they're just teaching obi and ndigbo a very big lesson.

You poor joor..

Tinubu's NBS will debunked. They'll just rebase and redefine what poor means and show we are the richest country in the world!

Their laptop receivers will boot up their computers and enter Voltron mode.

There's no need repeating what has been said times without number.

That Nigeria is presently down is no news!

Let's stop sounding like broken records for once, please.

However, efforts are being made to steady the ship from capsizing completely.

It takes time for economic policies to start bearing fruits.

Nigeria is moving and not static.

Instead these endless lamentations, let's join hands with the government to make things work.

Everyone in the value chain has a role to play.

Some Nigerians are even worse than the government they love to criticize on a daily basis.



@hotseat

APC government please do better

Good is coming from our own National Bureau of Statistics. NBS.
If it came from any opposition party, by now APC and Bayo Onanuga will be running their mouths in lies.

Though I agree with your rationale, it still does not justify why a great country like Nigeria should linger in poverty for the past 40 years.

All the countries you mentioned used to come to Nigeria to fetch an income for their families the way Nigerians do abroad now. Our politicians plunder and launder more lots abroad than foreign investment and remittance into the country. A leaking basket.

Yet Nigerian importers, most of whom have no finished manufactured goods to export hailed liberal open market no country in the world embrace or practice.

The only time naira was pound to pound to British money and one naira to one and half American dollar was when people go to jail for foreign money violations. Today, money we can't print are legal tender in Nigeria.

abbey621:
Statistics without context just to fool the gullible. Define poor? You can survive on $2 per day in 9ja but in China it would take closer to $4. There are more poor people in China than 9ja.

To clarify, 10% of Chinese population lives on less than $4 per day, that's approximately 140 million people, Indonesia about 55 million people, India about 80 million. Even in America we have over 40 million people in extreme poverty based on the standard of living.

Don't just spew stats but analyze it objectively!

Islie:
https://www.thecable.ng/nigeria-now-has-second-highest-number-of-poor-people-globally-say-yemi-kale/

And one Gerald said Tinubu is fixing the country.

Anybody that says this government is doing anything good is either a wicked soul or a tribal bigot.

Secondus

The product of clueless tinubu and his APC gang

fitjenzy:
It is obvious you did not read the article.

From the 5th to tge 20th paragraph, he said that the economic reforms implemented by tge Tinubu government should have been carried out a decade, that they were absolutely necessary.

Buhari failed to implement these policies, but rather did the opposite and the country is paying a big price for them today.

The real massage was delivered. She added that part to make people like u and SW president aids not to attack her.
How can a policy be working and more people be going into hunger and poverty. Your SW president are looting the country blind using those policy. Whr is the money saved from subsidy removal. Don't deceive yourself. I read it well before I commented.

.

cucumbar:
No comma, no full stop.

Did you read before posting, or you just rushed so that you can meet your quota and earn your 30k ?

Are you also poor?

zeeace:
And we have the wealthiest black man, the wealthiest politicians and wealthiest pastors. Funny country.

very surprising indeed

DeepSight:
Dont be absurd. Are you saying with the bold that you will illegally migrate on a visa not meant for migration? A business trip or conference and then you go into hiding? What sort of bull is that.

Be playing

Who is actually surprised by this?

IJAYA001:
Enemies of Nigeria are plenty in this forum, if statistics is positive you will hear Na statistics we go CHOP but if it's negative you will see them jubilating on social media.

Keyboard warriors.

Any positive statistics about this government are all dirty lies and propaganda.

marlow1962:
I do not have billions now, but I'm never poor right from birth, I can afford my basic amenities and I sleep well at night.

......so the Yoruba hunger that you cancelled in your life makes you sleep well at night?

Good one !!!!!!.....it will never reach you and your family as far as Jesus Christ tarries......

kiddaz:
Baba if na Ghana or Egypt even Uganda just go first from there find way and sometimes these things are not as expensive if you really want it. There are also other legit japa windows like business and religious seminars some can attach to with affordable funds. Just be willing to

You think say e cheap to fly to other African countries, Uganda return flight ticket only, is about N1.7m.

The days of using seminars and conferences to japa to Europe or the US, don cast tey tey.

googi:
Though I agree with your rationale, it still does not justify why a great country like Nigeria should linger in poverty for the past 40 years.

All the countries you mentioned used to come to Nigeria to fetch an income for their families the way Nigerians do abroad now. Our politicians plunder and launder more lots abroad than foreign investment and remittance into the country. A leaking basket.

Yet Nigerian importers, most of whom have no finished manufactured goods to export hailed liberal open market no country in the world embrace or practice.

The only time naira was pound to pound to British money and one naira to one and half American dollar was when people go to jail for foreign money violations. Today, money we can't print are legal tender in Nigeria.

You're making my case for me, what makes Nigeria great? Which attributes did you observe that makes Nigeria great? Those countries haven't patronized Nigeria heavily since 1980s, Nigeria is a country that has nothing outside of crude oil and human resources. It is a country spending or stealing more than it is producing, a nation of debt and insanity. The country will continue to languish in poverty for the next 100 years due to population alone but that does not mean there are not worse countries out there in terms of poverty!

I am making your case, of course. What else do you want?

abbey621:
You're making my case for me, what makes Nigeria great? Which attributes did you observe that makes Nigeria great? Those countries haven't patronized Nigeria heavily since 1980s, Nigeria is a country that has nothing outside of crude oil and human resources. It is a country spending or stealing more than it is producing, a nation of debt and insanity. The country will continue to languish in poverty for the next 100 years due to population alone but that does not mean there are not worse countries out there in terms of poverty!

virginboy1:
This is sad reality chai.

80% of salary earners are poor...

That is not what the post is saying. The bulk of poor people in the country are not even salary earners.

enemyofprogress:
In the name of Jesus I remove my name and the names of all my family members from the statistics.

Bros, it doesn’t work like that! The country you, i, and our family members find ourselves in is akin to a lunatic asylum in which the inmates run the show! God did his own part by blessing the country with vast human and natural resources, so he’s done his bit and shouldn’t be disturbed to do more! He can’t give your country the tools needed to feed themselves, then also be required to feed them as well! If and when Nigerians are ready, they know what to do!

Streetinvestor2:
The real massage was delivered. She added that part to make people like u and SW president aids not to attack her.
How can a policy be working and more people be going into hunger and poverty. Your SW president are looting the country blind using those policy. Whr is the money saved from subsidy removal. Don't deceive yourself. I read it well before I commented.

I find it very intriguing that your profile name is "smartinvestor" but have little knowledge about economic issues.

To break it down, what he said was that reforms started too late.

When Buhari ascended office, rhe price of crude oil was falling fast. From about $100 per barrel in June 2014 to $50 in May 2015. The value of the Naira dropped from $1-155 to $1- 199 in same period.

Due to falling crude oil prices, Buhari should have started implementing reforms such as cutting government spending for instance to reduce government borrowing.

Buhari refused to cut spending. He wanted to be populist. He did want people to suffer. He preferred to borrow money instead.

The borrowing was so much that he resorted to the CBN printing money to lend to the government. This is called Ways and Means and it's very inflationary and causes the currency to lose value. That why rhe currency lost so much value during his government and under Tinubu.

Secondly, he started meddling with exchange rates. He said he didn't believe in devaluation. The amount of dollars coming into the country was dropping and you expect the currency to remain at the same value? This was economic illiteracy on steroids. His refusal to allow the Naira depreciate quickly led to acute forex scarcity which caused the first severe recession that started in 2016 and ended in 2017. The economy suffered about 3 recessions during his government. The economy when not in recession grew very slowly.

When Tinubu took office,, 97% of government revenue was going towards debt servicing. When Buhari took office in 2015, it was 26%. That's how excessive Buharis borrowing was.

Also, there was only $4bn in net foreign reserves when Tinubu took office. Net foreign reserves refers to how much forex the central bank has access to and not just the total figure. This amount could not even cover a month worth of imports
The minimum foreign reserves is 4 months. That was how severe the forex scarcity was. That's why GSK, Shoprite, Emirates and other multinationals left the country .

Are Tinubu's reforms working? The government is now spending less that 50% of gocernment revenue on debt servicing. The nation's credit rating has even been upgraded.

Net foreign reserves have increased from $4bn to $42bn. This is enough to cover 8 months worth of imports.

Non-oil exports are growing at a very fast pace

That's why Okonji Iweala said the economy is stabilising. That's why Charles Soludo and Lamido Sanusi have praised the reforms.

But sadly they came 8 years late. They should have been implemented as far back as 2015. A stitch in time saves 9. Sadly, it was when it reached 10 that reforms began.

And for your information, economic reforms cause a lot of pain depending on how good or bad the economy is. This is global. That's why countries all over the world do not like the IMF. They are not politicians that tell you what you want to hear They are technocrats who know their onions.

Streetinvestor2:
This is only achievement SW president has created that all Nigerians know.He has created the worst level of poverty and hunger since the existence of nigeria. In just 2 yrs.
Nothing will make him come back in 2027.
The new tax law is thr to make the situation worst in 2026 again

Did you read what is written here at all? I doubt it.

rofanx13:
Coming from the statistics custodian of the nation
Reno, please counter him

You finally believe the man that you reject his figures when he was in service. You as usual showed blind eye to what he said are the reasons. You refused to notice his confirmation that the reforms were overdue and his comment that we are on the right track. Please read again and summarize for me.