Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" - Politics (2) - Nairaland
Nairaland Forum › Nairaland General › Politics › Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" (21865 Views)
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by TheBizGenius: 9:41pm On Oct 24, 2025 |
Obiedun:This is a beautiful and well explained piece. Kudos to the author. The biggest problem Tinubu has, is the inability of his ministers to explain macroeconomics to the average Nigerian youth. People whose minds are on daily feeding do not understand fiscal policies, long term investments or rebasing the economy. All they care about is price of tomatoes, rice, yam and beans and why transport fare is now more costly. That explanation "lacuna", he needs to solve very fast. I also feel he needs to start a super agency that focuses solely on microeconomics. Because as much as his vision is long term, people fit "kpai" on the short term. Once again, the article is excellent. 3 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by grandstar(m): 9:41pm On Oct 24, 2025 |
I will be honest, there is a lot of economic illiteracy. That's the root of people blaming the IMF and the World Bank for the painful reforms their economies and ignore the disastrous state those economies were in. However, there is nothing wrong with borrowing as long as it is prudent. Borrowing now is far morfe sustainable than before. The economy is growing, government revenue is rising very fast, and the means to service new borrowing exist. Nevertheless, because you can afford to service a debt does not mean it should be taken. 5 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Baileyz101(m): 9:42pm On Oct 24, 2025 |
Obiedun:Well, I just cross checked this and found it's a FACT. Nigeria actually has low debt burdens compared to it's GDP 4 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by hotseat: 9:43pm On Oct 24, 2025 |
Rufai Oseni is not wrong on this one! Instead of resorting to insults, Bayo Onanuga should have provided alternative facts. Insulting people is an admittance of the indisputable facts about the borrowing mentality of the Tinubu administration. Incessant borrowings without clearcut results as to which areas they were utilized for is a no-no. Nigerians need results and not insults Onanuga can do better! @hotseat 1 Like |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by femi4: 9:46pm On Oct 24, 2025 |
Shame on dem accountants n economist that saw naira slipped into coma...they are the illiterates 2 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by PHIPEX(m): 9:49pm On Oct 24, 2025 |
Obiedun:This is the height of economic illiteracy. This is similar to saying a poor man can borrow as much as a rich man because he has plenty children 12 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Rexymania(m): 9:51pm On Oct 24, 2025 |
This guy wicked gan o. Haaa 1 Like |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by TheBizGenius: 9:54pm On Oct 24, 2025 |
Baileyz101:The real issue with most youths is that they are technicians and employees in real life (not online). To understand how to run an economy, you must think like an investor first because your timeline must be to do what works long term (10 years) rather than short term. If not... This is the first time Nigeria is getting an investor as a president. Will he make the right judgement calls? I don't know. But I hope he does. 1 Like |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by VladimirTheGrea: 9:55pm On Oct 24, 2025 |
As usual, they hate truth. Nigeria's debt profile is way out of comprehension. The urban bandit have abused the ways and means in two years far worse than what the incognitive bubu did. It's sad to see young people waste away on social media just defending stack failure. 5 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by 43Ronin: 9:56pm On Oct 24, 2025 |
The worst part is that bayo onoponuga is an 80 year old man who's supposed to have wisdom, but alas, its lacking in epic proportions, & is a Twitter troll at his old age 4 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Smartcitizen: 9:56pm On Oct 24, 2025 |
4 Likes 1 Share |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Sensiblerealist(m): 10:00pm On Oct 24, 2025 |
Sometimes, we should leave politics aside and do critical analysis, that's if the upper six fit carry am. Posting someone else's posit without links or sound proofing is devoid of a sharp cerebellar hemispheres . Who Onovughe or whatever! Does he have the academic standing to posit that and other matter? Stipends noor allow us see who get brain and shi dey work for hand-outs Obiedun: 1 Like |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by iwaeda: 10:04pm On Oct 24, 2025 |
Bayo Onanuga is only doing his job. Even APC knows Tinubu is a failure. Just be preparing ahead of tax year 2026.  4 Likes 1 Share |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by WelcomeToBiafra: 10:14pm On Oct 24, 2025 |
They are blaming it on Mazi Nnamdi Kanu for exposing Nigeria government officials criminalities... Thank God for the Internet, criminal NTA editors has been exposed, we have stopped watching NTA News and Nollywood , distraction and propaganda tools... When Nigeria government terrorists officials came to steal our resources, they will edit and send to public how they came to award the contracts... 1 Like |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by DeepSight(m): 10:23pm On Oct 24, 2025 |
clarocuzioo:Sadly, that was the one thing no one expected of him. No matter how corrupt and devious we all know him to be, he always surrounded himself with first class brilliant minds. But when he became President suddenly he went to look for non-entities. 1 Like |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by DeepSight(m): 10:25pm On Oct 24, 2025 |
Obiedun:Jokes. Was the removal of subsidies not supposed to reduce our borrowing? 4 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Vision101(m): 10:27pm On Oct 24, 2025 |
loffyloffy:I love your submission |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by smyo(m): 10:27pm On Oct 24, 2025 |
This government is a disaster they told us that when subsidy is removed that they will pay for borrowed debt and that borrowing will be thing of the past. The worst is that we are not seeing where all this dept is going 1 Like |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by DeepSight(m): 10:27pm On Oct 24, 2025 |
PHIPEX:Thank you for this excellent summary and rebuttal. |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by IGBOPROMISE1: 10:28pm On Oct 24, 2025 |
Obiedun:This post is nothing but a display of voodoo economics! Just playing around with numbers to try and give a semblance of things being ok and still manageable, when in fact the opposite is the case! You talk of Nigeria debt per capita being lower than that obtainable in countries like Ghana, South-Africa, Qatar, Saudi-Arabia, etc! Looking at it the way you put it up there will lull Nigerians into a false sense of economic security…thinking that things are still manageable seeing as we’re ‘doing better’ than the countries listed for comparison! The situation is a bit more nuanced than your post suggests! *To start with, do those other countries have a largely redundant, unproductive and unwieldy population like Nigeria with its born-throway problem (apologies to Patience Jonathan)? *They may have a higher debt per capita, but at least a lot of those countries can see where their national debt went and they enjoy a better provision of infrastructure and social welfare than Nigeria that’s ‘enjoying’ ‘better’ debt per capita! Which then begs the question….na ‘better debt per capita’ we go chop!? *And finally, are the citizens of those countries with ‘worse’ debt per capita going about their daily activities or going to bed with one eye open in fear of bandits, kidnappers, terrorists and ritualist head-hunters who but for the grace of God could cross paths with any one of us at any moment!? So you see, having ‘better debt per capita’ than the likes of Ghana, Qatar, Saudi Arabia, etc, is not all it’s cracked up to be! 4 Likes |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Paramount01(m): 10:31pm On Oct 24, 2025 |
BlackViper:Pls explain to me ,if our debt is increasing why is the dollar equivalent coming down.We have from $113 to $99 ,so why is it coming down in $ terms
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| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Vision101(m): 10:35pm On Oct 24, 2025 |
BigYash:Adjust the debts by the exchange rate pre 2023 and today and then compare. If we are owing $1b pre 2023 the same $1b today will look like it has bloated when you convert at the present exchange rate. What I don't like about Oseni is that he practices his journalism with hatred and mischief. He doesn't practice it with open mind. |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Zocalite: 10:38pm On Oct 24, 2025 |
What do you expect from an agba jakujaku |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by Paramount01(m): 10:39pm On Oct 24, 2025 |
Sensiblerealist:pls I want to learn,if Nigeria debt is really increasing why is the $ terms coming down since we borrow most of the money in Dollar |
| Re: Oseni Rufai Replies To Bayo Onanuga Calling Him "Economic Illiterate" by jaxxy(m): 10:46pm On Oct 24, 2025*. Modified: 7:33am On Oct 25, 2025 |
Obiedun:Debt is not a problem if ur economy is productive and with a good GDP So quoting debt against a highly fictitious population of 240m where more than 150m are in extreme poverty is far worse than the others u are comparing with higher debt to population ratio. tinubu grew the economy of lagos how? Did he create more industries or business or bring in more local businesses or FDI well the facts remains lagos has been fast growing and all tinubu did was increase tax net in lagos. However he did build important infrastructure along the VI/Ikoyi/Lekki/Ajah corridors through his successors which opened up more real estate and business activities. Most of those new local investments didn't come from lagos indigenes or south west region but other parts of Nigeria as has been characteristic of lagos and its cosmopolitan nature. 2 Likes |
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