₦airaland Forum

Lifestone:
You obviously lack understanding of basic economics. Borrowing is not the problem, the problem is what you are borrowing to do.

When you borrow to finance infrastructures especially those assets that can generate revenue for self servicing, then it's proper (tolled Road as an example), so I support completely borrowing money to do the Coastal Road to be tolled, Lagos Ibadan expressway should be tolled, markudi to Enugu should be tolled, Ibadan to Kaduna, A1 should be tolled. Those tolled Road will maintain themselves and free resources to fix our basic areas of about failing like Education, Primary Healthcare etc.

So get educated

How much did Jakande borrow to provide infrastructure as well employ well paid civil servants back then, to ensure children were educated free in schools and water flowed in houses, even though he did not squeeze IGR out of hardworking Lagosians in his four years of progressive governance?

Do you know why Tinubu is claiming to be a progressive like Jakande and Awolowo when he is nothing but a balablu progreThief rogue

Babasessy:
The Awolowo rebirth in the Southwest has inspired gongs, songs and rhetoric of sorts. But they have missed one point.

It occurred to me in Abeokuta last week amidst the big crowds and euphoria of the swearing-in of Senator Ibikunle Amosun as governor. In all the states from Lagos to Edo, where Awo has witnessed ideological resurgence, hardly a single family member has played a role.

So we have an Awo family without an Awo. That is an irony. But history overwhelms us with this sort of twist. Obafemi Awolowo toiled for his reputation. His roots were lowly, he toiled to school both home and abroad, launched into careers in law, business, journalism and eventually politics. He carved a niche for himself, and became the first methodical and charismatic leftist in our history.  Other leftists abounded but they did not inspire comparable drama and following.

He faced tribulations, went to jail, failed in elections, won a few, but he imprinted his ideas and legacy in the country, and no single mortal has beaten him in the history of this country. His greatest achievement was in the area of ideas, and that was how he fashioned a family. Most families are born of biology but his issued from ideology. That family suffered with him.

In a spoof of Jesus Christ, these were the men who followed him in his teachings, and endured with him in his temptations. So he formed a kingdom for them in the Southwest, in the old Western Region, presiding over his projects, his legacies and people.

In all of these, the family he had was not his flesh and blood. In another spoof of Christ, who were his family anyway? Those who were with him must be counted as his family. So, I combed in the ambience of Babatunde Raji Fashola (SAN), and I found none. I went to Ogun, I frisked the crowd under Amosun’s bower, hardly any. Around Ogbeni Rauf Aregbesola in Osun, I could not lay a finger. With Governor Kayode Fayemi in Ekiti, where are the forbears of Awo? Yet, I can hear the chants of Awo. Hardly in any of the inaugural speeches or any of their other public intervention would you miss the philtre and filter of Awo from these gentlemen. To parody Novelist Joseph Conrad, they are the sparks from Awo’s sacred fire, the messengers of the might within the man.

Already all of them are pursuing the legacy ideas of Awo: free education, free health services, infrastructural development, urban renewal and economic engineering.

Lagos has posted itself as the John the Baptist. The others are putting up valiant efforts, and the world of course is watching to see how well they will perform. It will call for great work, resourcefulness and cooperation. They are the real Awoists, and Awo was a man of rigour and vigour.

The Awo son that many expected to take after the father was Olusegun, who unfortunately died in a car crash. We shall never know if he could have pulled it off.  But the others have not shown much of the paterfamilias’ brio and depth. In the past decade, under this republic, they have blended with the wrong crowd. Even H.I.D, hobnobbed with Alao-Akala, who brought illiteracy to governance; with Oyinlola who turned the grace of office into a hell-hole of despots; with Daniel who could not arrest his quick fall into megalomania.

I wrote once that this woman whom Awo once described as the jewel of inestimable value has lost value to his cause. If he came back to life, he would have committed the extraordinary act of divorce after death. Even his newspaper, The Tribune, has so stumbled and fallen that it swims in Awo’s vomit.

                                                                             http://www.thenationonlineng.net/2011/index.php/columnist/monday/sam-omatseye/index.1.html

anonimi:
Is it not dangerous to be so ignorant and simultaneously arrogant as he is, with his fraudulent and fake defense of All Promises Cancelled, APC leaders looters

Lifestone should be concerned that his reformist balablu idol is importing fuel despite two NNPC refineries producing since 2015 and the one of PH exporting since 2024, in addition to PDP-licensed Dangote private refinery.

You may hate or like him, PBAT is the biggest reforms minded government after President Obasanjo

Nothing like Naira gain to me until 1$=178# Good luck left it

Thanks for Dangote and his export of crude and refined petroleum products, we now earn US dollars consistently

Lifestone:
You may hate or like him, PBAT is the biggest reforms minded government after President Obasanjo

Do you mean Atiku, the businessman who helped Obasanjo the farmer to deregulate and privatise the economy for astronomical economic growth and widespread prosperity

anonimi:
‘How Atiku saved Obasanjo from near bankruptcy before he emerged president’‘

A new book has revealed how former Vice-President, Atiku Abubakar, saved ex-President Olusegun Obasanjo from near bankruptcy before he emerged president in 1999.

According to the new book, entitled ‘’Too Good to Die: Third Term and the Myth of the Indispensable Man in Africa,’ Atiku made all his resources available for Obasanjo’s presidential campaign.

The book, written by former chairman of National Human Rights Commission, NHRC, Chidi Odinkalu, and Ayisha Osori, author of ‘’Love Does Not Win Elections,” also revealed how Obasanjo beat late Alex Ekwueme to the presidential ticket of Peoples Democratic Party, PDP, in the 1999 election.

Quoting an account from Atiku, the authors said the trio of Ibrahim Babangida, Theophilus Danjuma and Abdulsalami Abubakar wanted PDP to adopt Obasanjo as their presidential candidate “because they considered him the best person for the job.”

“Implicit in their position was their belief that they knew how to manipulate Obasanjo and the fact that Obasanjo did their bidding in 1979. They felt secure that he could be managed again,” the authors wrote.

Atiku was reportedly asked to join a team to Ogun to inform Obasanjo that he was going to run for the highest office in the land.

“When Atiku and Obasanjo discussed the call to serve as president, Obasanjo said he could not be president because he was a nearly bankrupt ex-convict. Atiku, through General (Aliyu) Gusau, paid money into Obasanjo’s account to begin his financial rehabilitation.

“Head of State Abdulsalami Abubakar helped out by granting him an unconditional pardon. Atiku put everything he had at his disposal to support Obasanjo’s emergence as the PDP presidential candidate and, when he joined the ticket as the vice-presidential nominee, continued to make his assets available to Obasanjo and the campaign.

https://www.vanguardngr.com/2018/09/how-atiku-saved-obasanjo-from-near-bankruptcy-before-he-emerged-president/

Gain kwa??

Lifestone:
How is this the creation of the current administration? I'm in total support of the current reforms which by the way should have been done way back during the government of Yaradua/GEJ. The tackless Buhari, who apparently does not know a thing about economy simply made it worse.
But for the removal of the wasteful subsidy and merger of the two tier currency, it would have been hell now.
I may not be a political fan of PBAT, but I'm 💯 with him on the reforms

You seriously asking me how is it the Fault of Tinubu led govt ... $1/1400 and 1litre fuel is almost close to our highiest currency

You want to go down the " blame past" route .. please who brought Buhari to power and who got in re - elected who vouched for him with influence, money nd party structure

Now if you assert that Removal of subsidy and floating of currency is why Nigeria is still in existence ... please how much loan were we collecting in subsidy era and why is the loan ×3 now that we stopped subsidy

How did floating of the naira save the Naira when its even more valuelezz, moreover are we gonna pretend CBN have not being making " interventions" to defend the Naira ... what as changed what is better that are intellectual reason

All the sacrifice n pain ... then we hear i am given more Money to governors what that what Tinubu promised us

You know sumtin is a basket then you decide to construct a bigger pipe to rain water into it .. its that not total madness

reddingtonblack:
You seriously asking me how is it the Fault of Tinubu led govt ... $1/1400 and 1litre fuel is almost close to our highiest currency

You want to go down the " blame past" route .. please who brought Buhari to power and who got in re - elected who vouched for him with influence, money nd party structure

Now if you assert that Removal of subsidy and floating of currency is why Nigeria is still in existence ... please how much loan were we collecting in subsidy era and why is the loan ×3 now that we stopped subsidy

How did floating of the naira save the Naira when its even more valuelezz, moreover are we gonna pretend CBN have not being making " interventions" to defend the Naira ... what as changed what is better that are intellectual reason

All the sacrifice n pain ... then we hear i am given more Money to governors what that what Tinubu promised us

You know sumtin is a basket then you decide to construct a bigger pipe to rain water into it .. its that not total madness

Blame Tinubu for all his political acts, but excuse him on the current ongoing reforms. He can only begin where he took over and I believe that's what he did.
Seriously I'm focused on his decisions regarding removal of fuel subsidy and merger of the two tier exchange that gave room to so much arbitrage.
On money to Governors, of course it's a fact and the current constitution operating in Nigeria does not give leverage to the President to supervise the Governor, Nigeria is currently a Federal democracy. Let citizens hold their leaders accountable, President, Governors, Local Government Chairmen.
We should stop collecting money to vote these charlatans.
The stability in our exchange rate has helped a lot of us in the Private sector to plan.
The next phase is for the pursuit of a productive based economy where most of the things we import can be locally produced

Return it back to the amount you met with in 2023

Lifestone:
Blame Tinubu for all his political acts, but excuse him on the current ongoing reforms. He can only begin where he took over and I believe that's what he did.
Seriously I'm focused on his decisions regarding removal of fuel subsidy and merger of the two tier exchange that gave room to so much arbitrage.
On money to Governors, of course it's a fact and the current constitution operating in Nigeria does not give leverage to the President to supervise the Governor, Nigeria is currently a Federal democracy. Let citizens hold their leaders accountable, President, Governors, Local Government Chairmen.
We should stop collecting money to vote these charlatans.
The stability in our exchange rate has helped a lot of us in the Private sector to plan.
The next phase is for the pursuit of a productive based economy where most of the things we import can be locally produced

You think You can seperate Tinubu political act from Tinubu reform policies please pap water is pap

That an objective look into what Tinubu call " Reforms" asides being politically driven they are mostly " counter productive" Let me share light

Tinubu came up with reforms in the Energy sector, they said subsidy no longer sustainable n that gave birth to Band A ... cost effect tariff BuT 2yrs down the line ... Same govt is not only tellin us there is subsidy they begging for state support ...all that sacrifice n pain we will even Need state intervention or we risk another high tariff

See you can put a cart before the horse nd expect progress, Tinubu ought to have hit the ground running with Productivity based economy campaign not Tax regime

After impoverishing the people and making your currency worthless how do you achieve a productivity based economy ... how ??

startup and overhead cost requires fortune in today Nig. Bank interest are sucidial so how will Tinubu reform facilitate Productivity based economy ... All i see is gimmicks of how to extort Nigerians in every way

removing subsidy and unifying ex rate same time can only be done by a white sniffing powder catastrophe

Dennisochampa:
If them tell una to read before Una complain una no go gree.... Them make policies and unify the rate.... U still expect the rates to be the same... Omóh ehn... Na wa o

reddingtonblack:
You think You can seperate Tinubu political act from Tinubu reform policies please pap water is pap

That an objective look into what Tinubu call " Reforms" asides being politically driven they are mostly " counter productive" Let me share light

Tinubu came up with reforms in the Energy sector, they said subsidy no longer sustainable n that gave birth to Band A ... cost effect tariff BuT 2yrs down the line ... Same govt is not only tellin us there is subsidy they begging for state support ...all that sacrifice n pain we will even Need state intervention or we risk another high tariff

See you can put a cart before the horse nd expect progress, Tinubu ought to have hit the ground running with Productivity based economy campaign not Tax regime

After impoverishing the people and making your currency worthless how do you achieve a productivity based economy ... how ??

startup and overhead cost requires fortune in today Nig. Bank interest are sucidial so how will Tinubu reform facilitate Productivity based economy ... All i see is gimmicks of how to extort Nigerians in every way

Unfortunately your argument forgot the state of Nigeria when the reforms began. How will you fund the enabling of the productive base with negative revenue? I don't get your argument, you must have money before you can spend and that's exactly what he's done, fix the revenue gaps and then begin fixing the productive pillars such as energy, road infrastructures, massive investment in human capital development (education, healthcare etc) and Security. You need money to do all that.
Now the funding pipeline are there now, we should jointly put pressure on him to perform.
Remember that this government is barely 3years in Government and have done its part.
Forget that guy in the Ministry of Power o, PBAT should have keep and support El Rufai and figure out how to cure his divisiveness, he only has the madness required to fix the Energy Sector, I missed El Rufai personalty in that sector. The guy currently there now na minus one. That sector hasn't lived to expectations in all respect, 2/10 for me

Lifestone:
You obviously lack understanding of basic economics. Borrowing is not the problem, the problem is what you are borrowing to do.
When you borrow to finance infrastructures especially those assets that can generate revenue for self servicing, then it's proper (tolled Road as an example), so I support completely borrowing money to do the Coastal Road to be tolled, Lagos Ibadan expressway should be tolled, markudi to Enugu should be tolled, Ibadan to Kaduna, A1 should be tolled. Those tolled Road will maintain themselves and free resources to fix our basic areas of about failing like Education, Primary Healthcare etc.
So get educated

Are you sure you're really a Nigeria or you just want to unnecessarily defend this government.

Let's start with the past government. Buhari's government borrowed billions to fund a rail project from Katsina to Niger, where's the project and the money borrowed today? Buhari's government borrowed money to start Nigeria air, where's the project today or the money?. These are just few of capital projects that monies were borrowed for but were embezzled.

Tinubu's government has started borrowing too and we all know they won't utilise these monies. These monies would still be looted. Except you don't want to accept the truth, Nigeria government borrows to embezzle and nothing more. In fact, they mostly borrow to fund operational expenses and not capital projects.

smartkester:
Are you sure you're really a Nigeria or you just want to unnecessarily defend this government.

Let's start with the past government. Buhari's government borrowed billions to fund a rail project from Katsina to Niger, where's the project and the money borrowed today? Buhari's government borrowed money to start Nigeria air, where's the project today or the money?. These are just few of capital projects that monies were borrowed for but were embezzled.

Tinubu's government has started borrowing too and we all know they won't utilise these monies. These monies would still be looted. Except you don't want to accept the truth, Nigeria government borrows to embezzle and nothing more. In fact, they mostly borrow to fund operational expenses and not capital projects.

The flip of your argument is that citizens should not expect government to do anything because of the fear of corruption. That won't help. I'm not the spoke person for this government and like I said earlier today, I didn't even vote either PBAT or Obi, I voted someone else completely. But I have been a proponent of the current line of reforms for over 25years and clearly believed the long it takes us the long for economic recovery. What Nigerian wants is a welfarist government where citizens will get everything free, but tell which country has ever developed based on such model. Institutional check and balances with citizens holdings leadership accountable is the only solution to Corruption.
On the rail you mentioned, Government should have simply limit themselves to the construction of the rail lines and thereafter concession the coaches to private sectors operators like the Young Shall Grow, Peace Motors and other interested Nigerians to run. Examples is the exit of government in running an airline, stay with making rules and regulations while private sectors runs the show, it generates more value.
So the rail is not optimizing because Government are still holding what's not their business. May be I should let you know that both Heathrow Airports and British Airways are not own by the British Government.
Most of the Road in Nigeria are good candidates for tolling.
All the airports in Nigeria should be privatized, all our Ports should be privately owned.
It was a complete disaster when Yaradua reversed the privatization of the Refineries and the outcomes are glaring, we screamed and shouted, but Nigerians and Labour and special interests frustrated it. See the outcome

Lifestone:
Unfortunately your argument forgot the state of Nigeria when the reforms began. How will you fund the enabling of the productive base with negative revenue? I don't get your argument, you must have money before you can spend and that's exactly what he's done, fix the revenue gaps and then begin fixing the productive pillars such as energy, road infrastructures, massive investment in human capital development (education, healthcare etc) and Security. You need money to do all that.
Now the funding pipeline are there now, we should jointly put pressure on him to perform.
Remember that this government is barely 3years in Government and have done its part.
Forget that guy in the Ministry of Power o, PBAT should have keep and support El Rufai and figure out how to cure his divisiveness, he only has the madness required to fix the Energy Sector, I missed El Rufai personalty in that sector. The guy currently there now na minus one. That sector hasn't lived to expectations in all respect, 2/10 for me

Then lets talk about the state of economy, pre Tinubu administration 1. Naira had better value , 2. local manufacturers and farmers were more in business, 3. Banks Business loans interest were feasible n viable @least, 4. most companies were dependant on National grid which resonate good revenue flow to discos
5. Pre Tinubu reforms consumption rate was optimal, i.e more turnover to business

That claared, what you dont know you dont know. Capitalist economy best capture Tinubu Regime ... as such a low revenue does not impede " creating Enabling" environment because that is what is needed most " sound policies" that compel or promote "productivity" E.g For a Nigeria heavily dependant on raw material increasing import duties is counterproductive

Despite Tinubu spending $37billion on travels to look for investor ... FDI is static yet people like you want us to believe no money

Now we have high Revenue according to Tinubu buh we cant even run one budget successfully, now we run 3 budget con currently , no matter how much you try you can't package poop to smell nice

Lifestone:
The flip of your argument is that citizens should not expect government to do anything because of the fear of corruption. That won't help. I'm not the spoke person for this government and like I said earlier today, I didn't even vote either PBAT or Obi, I voted someone else completely. But I have been a proponent of the current line of reforms for over 25years and clearly believed the long it takes us the long for economic recovery. What Nigerian wants is a welfarist government where citizens will get everything free, but tell which country has ever developed based on such model. Institutional check and balances with citizens holdings leadership accountable is the only solution to Corruption.
On the rail you mentioned, Government should have simply limit themselves to the construction of the rail lines and thereafter concession the coaches to private sectors operators like the Young Shall Grow, Peace Motors and other interested Nigerians to run. Examples is the exit of government in running an airline, stay with making rules and regulations while private sectors runs the show, it generates more value.
So the rail is not optimizing because Government are still holding what's not their business. May be I should let you know that both Heathrow Airports and British Airways are not own by the British Government.
Most of the Road in Nigeria are good candidates for tolling.
All the airports in Nigeria should be privatized, all our Ports should be privately owned.
It was a complete disaster when Yaradua reversed the privatization of the Refineries and the outcomes are glaring, we screamed and shouted, but Nigerians and Labour and special interests frustrated it. See the outcome

Bro, you still don't get it. Everything you wrote here won't hold any water if our leaders are corrupt. As long as corruption persists we would keep moving round the circle in Nigeria

reddingtonblack:
Then lets talk about the state of economy, pre Tinubu administration 1. Naira had better value , 2. local manufacturers and farmers were more in business, 3. Banks Business loans interest were feasible n viable @least, 4. most companies were dependant on National grid which resonate good revenue flow to discos
5. Pre Tinubu reforms consumption rate was optimal, i.e more turnover to business

That claared, what you dont know you dont know. Capitalist economy best capture Tinubu Regime ... as such a low revenue does not impede " creating Enabling" environment because that is what is needed most " sound policies" that compel or promote "productivity" E.g For a Nigeria heavily dependant on raw material increasing import duties is counterproductive

Despite Tinubu spending $37billion on travels to look for investor ... FDI is static yet people like you want us to believe no money

Now we have high Revenue according to Tinubu will cant even run one budget successfully, now we run 3 budget con currently , no matter how much you try you can package poop to smell nice

Thank you for helping me to articulate my thoughts properly. I couldn't have written better than this.

reddingtonblack:
Then lets talk about the state of economy, pre Tinubu administration 1. Naira had better value , 2. local manufacturers and farmers were more in business, 3. Banks Business loans interest were feasible n viable @least, 4. most companies were dependant on National grid which resonate good revenue flow to discos
5. Pre Tinubu reforms consumption rate was optimal, i.e more turnover to business

That claared, what you dont know you dont know. Capitalist economy best capture Tinubu Regime ... as such a low revenue does not impede " creating Enabling" environment because that is what is needed most " sound policies" that compel or promote "productivity" E.g For a Nigeria heavily dependant on raw material increasing import duties is counterproductive

Despite Tinubu spending $37billion on travels to look for investor ... FDI is static yet people like you want us to believe no money

Now we have high Revenue according to Tinubu buh we cant even run one budget successfully, now we run 3 budget con currently , no matter how much you try you can't package poop to smell nice

$37billion on travels, and you believe that? And I'm here engaging with you! I drop off

Lifestone:
$37billion on travels, and you believe that? And I'm here engaging with you! I drop off

Sentiment is the Achilles heel of the average African. Once they dislike somebody, nothing good can ever come out of that person - even in the face of glaring facts.

This is an example: Nigeria's entire 2025 budget was ₦54.99 trillion, which is about $39.5 billion. Yet someone here on Nairaland actually believes Tinubu has spent $37billion on travels!

How is that even remotely possible?

I don’t no why pounds and euro not falling in Black market especially aboki, all forex trading app showing euro to naira 1645, CBN 1619 but aboki still selling 1720
I still Dey imagine d gap now , CBN no longer regulate black market, they just holding it static

Dennisochampa:
Simple question u don turn am to a battle of prayers and curses.... U guys always get defensive whenever it's time to have a rational discussion... Incase you missed it.... The Simple question I asked was....

When dollar was N450... What was Nigeria producing then that they no longer produce now that dollar is around N1500

My aim of asking you this question is simple...
To let you know that increase in dollar rate has very little to do with production... Rather the rate was inflated because the present administration decided to stop using enormous amount of money to defend the naira and keep it at the rate you knew some years back..... If you will be bold enough to reply me... It will make more sense than praying like a fake pastor who is looking for a way out of a problem he created for himself

I'm sorry you saw what I wrote as a curse. It's not really a curse if you are confident Tinubu is doing something great. I don't really mean to get defensive but we need to state the fact.

1. Nigeria was an exporting country in the 80s and 90s, we were exporting cocoa at a point. The IBB military regime was the foundation of our problems. Naira was devalued back then
2. We shifted our focus to only crude oil and we truly experienced massive revenue in the 90s and early 2000s to mid 2000s. Our common wealth was heavily looted by the likes of Abacha as the kingpin.
3. In reality, Nigeria wasn't doing much in terms of exportation. The dollar was been subsidized with the little revenue we were getting after the crash of oil prices years back plus, we were subsidizing petrol too. That was to heavy for a country to make tangible progress.
4. The unification of exchange rate was a good way to go but what you people don't understand is that before you make some rash economic policies you'll have to put measures in place to cushion the effect on the average citizen. BAT and his minions are clueless on this. They removed fuel subsidy and unified exchange rate.
5. If truly subsidy was removed, the money should be going into some heavy capital projects as we speak because Nigeria pays subsidy yearly in Trillions not Billions.
6. I completely disagree with you on production not affecting dollar price. It's a simple economics — the more of your local products in the international market the more dollar (FX) that runs into your economy and this strengthens the Naira against the dollar.
7. Dollar was 1100-1200 this time last year and right now dollar is 1396-1450. Please and please how does this make any sense to you people.

You see why I say you lots are irredeemable. We all want Nigeria to progress but not with deceptions and Ajegunle analysis you people are doing here.

Purchasing power has also drastically reduced. Let me stop here!

What exactly was written there that you understand?

Dennisochampa:
If them tell una to read before Una complain una no go gree.... Them make policies and unify the rate.... U still expect the rates to be the same... Omóh ehn... Na wa o

How is this good news? By their remark we will know all these tribal bigots on Nairaland

Lifestone:
Good news about Nigeria is so painful to you guys. Las las we all dey this country

smartkester:
I'm sorry you saw what I wrote as a curse. It's not really a curse if you are confident Tinubu is doing something great. I don't really mean to get defensive but we need to state the fact.

1. Nigeria was an exporting country in the 80s and 90s, we were exporting cocoa at a point. The IBB military regime was the foundation of our problems. Naira was devalued back then
2. We shifted our focus to only crude oil and we truly experienced massive revenue in the 90s and early 2000s to mid 2000s. Our common wealth was heavily looted by the likes of Abacha as the kingpin.
3. In reality, Nigeria wasn't doing much in terms of exportation. The dollar was been subsidized with the little revenue we were getting after the crash of oil prices years back plus, we were subsidizing petrol too. That was to heavy for a country to make tangible progress.
4. The unification of exchange rate was a good way to go but what you people don't understand is that before you make some rash economic policies you'll have to put measures in place to cushion the effect on the average citizen. BAT and his minions are clueless on this. They removed fuel subsidy and unified exchange rate.
5. If truly subsidy was removed, the money should be going into some heavy capital projects as we speak because Nigeria pays subsidy yearly in Trillions not Billions.
6. I completely disagree with you on production not affecting dollar price. It's a simple economics — the more of your local products in the international market the more dollar (FX) that runs into your economy and this strengthens the Naira against the dollar.
7. Dollar was 1100-1200 this time last year and right now dollar is 1396-1450. Please and please how does this make any sense to you people.

You see why I say you lots are irredeemable. We all want Nigeria to progress but not with deceptions and Ajegunle analysis you people are doing here.

Purchasing power has also drastically reduced. Let me stop here!

I'll respond to your points one after the other.....

Check the attached document for the volume of cocoa exports.... In 2024,Nigeria actually exported more than 1980 and 1990 combined... That means we were producing more now than before..... You can bring your facts to correct me if I'm wrong

Lolz and they called it a gain after 13years meaning it has been falling ever since APC took office in 2015 to 2026, this is the first time and we think that's a gain, it's nothing compared to where Nigeria is today under APC many Nigerians started living in a multidimensional poverty due to harsh and evil policies mainly to enrich the elite and impoverishing the common Nigerian.

Before tinubu very early in the morning while waiting for bus to work at my junction I usually see kids hustling bus to school like plenty kids but ever since tinubu came in, just few kids I mean I hardly see one or two students at the bus stop waiting for bus, is it that their parents withdrew them from school or what..?

smartkester:
I'm sorry you saw what I wrote as a curse. It's not really a curse if you are confident Tinubu is doing something great. I don't really mean to get defensive but we need to state the fact.

1. Nigeria was an exporting country in the 80s and 90s, we were exporting cocoa at a point. The IBB military regime was the foundation of our problems. Naira was devalued back then
2. We shifted our focus to only crude oil and we truly experienced massive revenue in the 90s and early 2000s to mid 2000s. Our common wealth was heavily looted by the likes of Abacha as the kingpin.
3. In reality, Nigeria wasn't doing much in terms of exportation. The dollar was been subsidized with the little revenue we were getting after the crash of oil prices years back plus, we were subsidizing petrol too. That was to heavy for a country to make tangible progress.
4. The unification of exchange rate was a good way to go but what you people don't understand is that before you make some rash economic policies you'll have to put measures in place to cushion the effect on the average citizen. BAT and his minions are clueless on this. They removed fuel subsidy and unified exchange rate.
5. If truly subsidy was removed, the money should be going into some heavy capital projects as we speak because Nigeria pays subsidy yearly in Trillions not Billions.
6. I completely disagree with you on production not affecting dollar price. It's a simple economics — the more of your local products in the international market the more dollar (FX) that runs into your economy and this strengthens the Naira against the dollar.
7. Dollar was 1100-1200 this time last year and right now dollar is 1396-1450. Please and please how does this make any sense to you people.

You see why I say you lots are irredeemable. We all want Nigeria to progress but not with deceptions and Ajegunle analysis you people are doing here.

Purchasing power has also drastically reduced. Let me stop here!

Speaking about looting... It did not start today in Nigeria... I wonder why we are now talking so much about it in this administration as if looting started with tinubu.... While it's a bad thing that should be stopped at every level... I also need you to understand that there is no country on the surface of this earth that will be able to rebuild in 4 years, what took 50 years to destroy... Nigeria has been built on a rotten foundation that has made things like corruption, tribalism and religious bigotry to thrive

That's why you see the likes of Yoruba and igbo always battling each other... Is it religion?? What did Peter obi say to pastor David oyedepo? Didn't he say its a religious war we are fighting in Nigeria and his followers defended his statement? Doesn't this tell u there's a fundamental problem with Nigeria beyond politics?? Whah about the society?? Are there youths who can live a crime free life and build a better Nigeria where there will be no looting? Are you confident that we have such youths in large numbers in Nigeria? Instead what do u have? Youths who instead of forcing themselves into leadership positions, prefer to cheer the old leaders and end up complaining all over again when things go wrong....

3. U are correct... So what is your anger with this administration over the subsidy removal of which Nigerians weren't even getting the full benefits of the subsidy in the first instance... It was riddled with severe corruption and I actually admire tinubu gutts to remove it.. My prayer is for a massive turn around in the development of the country....
We have never done much about exports before now and I don't expect it to change automatically in 4 years of one person's administration... Before you can industrialise a nation like Nigeria.... Basic infrastructures need to be put in place.... Energy, good roads, security health etc.. These are the things that will attract investors to industrialise a nation so for people like me... I will patiently wait for the infrastructural reforms that this administration is showing signs of.....

4. Please help me here...... Assuming you become the president.. Before u unify the exchange rate, what measures will u put in place.... Mind you, if it takes u 4 years to put those measures in place.... We would have spent over 60b dollars in that 4 years to defend the naira..... I await your response to this...

5. Subsidy was removed and states are now getting double and in some cases, triple of their normal allocations.... Several federal roads are now either undergoing construction or upgrades.... The student loan is there.... Increase in minimum wage... Subsidy of dialysis... Corpers allowee...the coastal road.... Etc....

Please if u don't see this as reinvestment of the money saved from subsidy... Can you kindly tell me what you would have done differently?

6. How many years will it take Nigeria to produce the things needed to put us in the international market for example

Let's assume we want to establish a world class lithium battery plant that will meet world standards and compete with the best brands in the world... How many years do u assume it will take?? Does Nigeria have the right environment to attract such investments into the country?? Don't you think we should take time to fix the country before we begin to worry about exports?? For people like me... The main focus now should be on infrastructure and not exports... As long as we are not spending anything to defend the naira... It should be there until we fix our country and make it safe and serene for huge investments to come in....

7. U keep repeating yourself when talking about the increase in exchange rate so I'll ask you the same question I asked earlier.... What would u have done differently to improve the naira..... Keep spending 15b dollars annually to defend it while you look for ways to do what u want to do?? Tell me what you would have done differently....

U remember that purchasing power has dipped but you forgot to mention that minimum wage is increased and also a provision to increase it every 3 years is there.... Also with the new tax reforms... U will have more to spend if you're in the bracket of low income earners who are tax free in Nigeria at the moment.....

Speaking about the curses... It doesn't really make sense to me because you're being emotional with this Nigerian issue.... As good as USA... Bad things happen.. So how would u feel if I pray for all the bad things that happen in USA or the state of the person you support, that all the evil there be fall u and your family?? Will it make any sense to u?

TheGreat99:
How is this good news? By their remark we will know all these tribal bigots on Nairaland

So if my views doesn't align with yours, that means I'm a bigot? I leave you with your thoughts.

Mistersolar:
removing subsidy and unifying ex rate same time can only be done by a white sniffing powder catastrophe

So whah would u have done differently??

Keep paying billions in subsidy for years or paying 15b dollars annually to defend the naira??

Because Nigeria was owing over 7 trillion naira in subsidy debts in 2023 and spent approximately 15b dollars annually to defend the naira against the dollar to keep the rate low...

So if you are president, what will u do?? Remove the subsidy and keep paying the 15b dollars to defend the naira annually or stop defending the naira and keep paying and owing trillions for subsidy that the people weren't even getting the true or actual value but instead... A few individuals in the society were benefiting massively at the detriment of the people... I would really love to know what you would have done differently

It 13year them talk, not two years

Streetinvestor2:
It gained una papa.How much was it when this corrupt government did civilian coup

Lifestone:
$37billion on travels, and you believe that? And I'm here engaging with you! I drop off

Did onanuga miss the news or he does not know his job anymore

if you had corrected it is just common $34billion and not $37 maybe na you for win