₦airaland Forum

Former presidential aspirant of the Peoples Democratic Party, PDP, Dele Momodu, says the administration of President Bola Tinubu has taken more loans than all the governments of Nigeria combined.

Momodu said this in an interview on ‘Sunrise Daily’, a programme on Channels Television monitored by DAILY POST on Wednesday.

The publisher of Ovation Magazine also stated that the APC-led government has not been able to balance the trillions of naira budget it claimed to be running.

“Tinubu’s govt has taken more loans than all the governments of Nigeria combined. We have not seen the effects of that loan. So, a lot is going on that Nigerians cannot understand, but there is a preponderance of propagandists who are willing to delete their brains and sell their souls.

“APC is supposed to be an offshoot of the Buhari administration, yet every day, it is APC itself that is blaming Buhari and blaming APC.

“So when you see a situation like that, you will wonder if these guys are serious at all. Now they are saying, oh yeah, they stabilised the exchange rates against the dollar. I laugh. They forget to tell us where the dollar was when they took power.

“They tell us today they are running budgets in trillions. But they forget to tell us what they have done with the trillions, and have they been able to balance the budget? They tell you that, oh, there is no government ever like the government of President Bola Ahmed Tinubu,” he said.

Urchaino247:
E-Hailing Drivers Decry Low Earnings, Accuse Ride-Hailing Firms of Exploitation
By Ijeomah Daniel Uche (Danbaba)
Lagos
Drivers under the umbrella of the Amalgamated Union of App-Based Transporters of Nigeria (AUATON) have raised fresh concerns over what they describe as exploitative fare structures imposed by ride-hailing companies operating in Nigeria.
The union’s Lagos State Financial Secretary, Ijeomah Daniel Uche, popularly known as Danbaba, issued a strong response following recent claims by Bolt that drivers retain over 75 per cent of trip fares on its platform.
According to the union, the company’s public defence fails to reflect the harsh economic realities facing drivers in Lagos and across the country.
Commission Versus Reality
Bolt had maintained that drivers earn more than 75 per cent of a typical ₦5,000 trip fare, suggesting that its commission model remains fair. However, AUATON argues that such figures do not account for operational expenses that drastically reduce drivers’ take-home income.
The union noted that beyond platform commissions — which range between 27 and 38 per cent when taxes and booking fees are included — drivers must independently cover fuel, vehicle maintenance, mobile data, feeding, and other daily expenses.
Using an estimated gross daily earning of ₦60,000 after at least 12 hours of work, AUATON provided the following breakdown:
Commission (27%): ₦16,200
Fuel (28–30 litres daily): ₦25,000
Feeding: ₦4,500
Miscellaneous expenses: ₦2,000
Vehicle remittance to owners: ₦10,000
This brings total daily operating costs to approximately ₦57,700, leaving a net income of about ₦2,300 per day.
Vehicle Ownership Burden
The union further revealed that nearly 90 per cent of drivers do not own the vehicles they operate. Many work under fleet owners or car partners, remitting as much as ₦60,000 weekly, regardless of daily earnings.
“These financial obligations do not fluctuate with economic realities,” the statement noted, adding that rising fuel prices and inflation have compounded drivers’ hardship.
Safety Concerns
AUATON warned that low earnings are forcing many drivers to work up to 15 hours daily to break even, increasing fatigue and the risk of road accidents.
The union also cited frequent levies and alleged harassment by local enforcement agencies and other actors, describing such charges as unpredictable and unavoidable.
Call for Industry Reform
While acknowledging the right of companies like Uber, Bolt, and InDrive to operate profitably, AUATON called for:
Reduced commission rates during periods of economic hardship
Fare structures reflecting inflation and operational realities
Transparent engagement with driver representatives
Policies limiting excessive working hours
“A sustainable ride-hailing industry cannot exist where drivers shoulder nearly all the economic risks while platforms maintain fixed commissions,” the statement read.
Appeal for Dialogue
The union urged ride-hailing firms to move beyond public relations statements and engage directly with driver representatives to review commission models and fare structures.
“True sustainability means drivers earn decent, livable incomes without debt, exhaustion, or exploitation,” the statement concluded.
AUATON called on drivers nationwide to unite in advocating for reforms aimed at restoring dignity and viability to the e-hailing sector.

fuckJones:
There is nothing wrong with taking loan, I own opay too

Ebubeslym:
Onigbese administration.
Bunch of thieves !

E no go better for Buhari

Wickedfact:
Owe, not own.
I think you should actually sit this discussion out.

fuckJones:
There is nothing wrong with taking loan, my ex Jones borrowed from opay too

lawani:
You can only get loans that your revenue can pay back. It means the government has revenue than all previous government combined

SeverusSnape:
Only fools don't know this or will argue it. And they will tell you that the economy is in perfect condition.

SeverusSnape:
Only fools don't know this or will argue it. And they will tell you that the economy is in perfect condition.