₦airaland Forum

WizardOfNG:
Rubbish talk from Sanusi that shows many so-called Nigerian intellectual are nothing more than glorified bigots when the chips are down and they feel their side is losing.

They begin to bastardize their own knowledge and training to fool Nigerians they assume are illiterates.

For how ludicrously far Nigeria has fallen behind , due to decades of misrule, who is dumb enough to think subsidy removal savings is now enough to solve all of our severe problems and turn us into Singapore overnight?

Abeg is saving from subsidy removal gazillion dollars or what is Sanusi saying?

President Tinubu has assented to the 2026 Appropriation Bill with an aggregate expenditure ( capital and recurrent ) of ₦68.32 trillion. for all the affairs of governing a nation of 240 million people approx based on what we will earn cumulatively as a nation (crude sale, iGR, Tax remittance etc) to include fuel subsidy savings.

For context, South Africa, with 65.5 million people approx i.e almost a quarter of the population of Nigeria, has a 2026 - 2027 budget of 2.67 trillion rand which is around 216 trillion Naira.

Additionally, and as one definitive citation, our power distribution and generation companies insist the FG owe them 6.2 trillion Naira since 2013-2014.

GEJ and Buhari failed to pay that debt and only piled more on top of it. This is why DISCOs and GENCOs have effectively downed tool today.

Responsibly, Tinubu sanctions an audit to reconcile what is owed to them and has agreed to pay a structured 3.3 trillion Naira to get power supply back on track and boost investor confidence in our privatised power sector.

If we insist PBAT must not borrow, then let us remove even a fraction of 3.3 trillion out of our 2026 budget.

The total figure begins to dwindle , per income to outgoings ratio, before addition of so many areas needing urgent attention meaning a failed budget !!!

The advanced sale of crude Buhari and his cronies got literally many billions for, if not trillions, and left for the incoming Government of Tinubu is to be cleared by who exactly if not Tinubu?

Same PBAT has shown his accounting background diligence and dedication to debt repayment and respect for contractual obligations all Presidents before him lacked.


To be borne in mind is the fact the FG is still paying subsidy in the power sector etal and has initiated the biggest grand scale delivery of critical infrastructure Nigeria has seen since 1999.

I could go on all day and the depressing picture will be that Nigeria still has far less income than she needs to continue to secure post 2-3% annual growth she needs to attain an independent and upscalable level of socio-economic strength, greater GDP, per capita income, SME growth, greater capacity to attract FDI, diversified economy etc etc, etc.

Sanusi who is a far more knowledgeable person than me, a layman, is aware of all this and he chooses to be deceptive especially given that his kinsman Buhari has done the most damage to the socio-economic fortune of Nigeria since our current democracy began in 1999.


Yes OO we don't need to borrow at all since Sanusi announces so and the ignorance, bias and prejudice of many Nigerians allow them blindly accept his jaundiced and gaslighting manipulation.

Subsidy savings is gazillions of dollars as the likes of Sanusi want to fool ignorant Nigerians it is. Go and arrest Tinubu for hiding those savings under his mattress when he should be using it to transform Nigeria into Dubai in two months

Parachoko:
I never said Section 3, I said Section 2

Tinubu administration agreed to release some billions of naira to complete the project

You just want to keep on arguing blindly without. You have nothing to back up your argument, you're just busy Wailing over the Truth

obailala:
Can you point out the capital projects that have been completed with almost N89trillion in borrowings in just 3 years?

Parachoko:
Nigeria was borrowing to pay for subsidy before Asiwaju became the President

Under Jonathan, we were borrowing to pay Salaries, borrowing to pay for subsidy, Pension, and also borrowing to build projects

Under Buhari, we were borrowing to pay subsidy on fuel, and also borrowing to pay salaries, pensions and also borrowing to build projects


Under Asiwaju, we're not borrowing to pay pensions or salaries, we're not borrowing to pay for subsidy, we're only borrowing to spend on Capital Projects.

I expect Sanusi to know there's no problem borrowing to build capital projects

Parachoko:
Asiwaju is a Title

I can't Worship any Human Being like your people dey Worship Nnamdi Kanu.

Martartins:
Ode, so where does the subsidy money to go?
To governors abi
Why is the 2023,2024, and 2025 budget not near half completion? Contractors abi

You cannot defend failure forever

COMPAQ:
It doesn't even mean we still cant borrow, but let the borrowing be tied to very specific capital projects.

Parachoko:
Nigeria was borrowing to pay for subsidy before Asiwaju became the President

Under Jonathan, we were borrowing to pay Salaries, borrowing to pay for subsidy, Pension, and also borrowing to build projects

Under Buhari, we were borrowing to pay subsidy on fuel, and also borrowing to pay salaries, pensions and also borrowing to build projects


Under Asiwaju, we're not borrowing to pay pensions or salaries, we're not borrowing to pay for subsidy, we're only borrowing to spend on Capital Projects.

I expect Sanusi to know there's no problem borrowing to build capital projects

Parachoko:
Nigeria was borrowing to pay for subsidy before Asiwaju became the President

Under Jonathan, we were borrowing to pay Salaries, borrowing to pay for subsidy, Pension, and also borrowing to build projects

Under Buhari, we were borrowing to pay subsidy on fuel, and also borrowing to pay salaries, pensions and also borrowing to build projects


Under Asiwaju, we're not borrowing to pay pensions or salaries, we're not borrowing to pay for subsidy, we're only borrowing to spend on Capital Projects.

I expect Sanusi to know there's no problem borrowing to build capital projects

demolagilbert:
na typo, ko ni meaning. Make we leave typo and focus on your attempt to give credit to Thubv for a known project that booooohari delivered....like you have given him the credit for every development in Lagos since 1999, despite that his own 8 years was just average and real transformation happened under Fash. Yet, you don't want to tie him to the Lagos-badagry expressway. He shares in the wins, but shouldn't be accountable for the flops. 21 years gone, we never near finish line o

iwaeda:
"If you're not paying subsidy and you've got the money, why are we still borrowing?" — Lamido Sanusi questions federal government's economic policies and borrowing plans.

"If you're not paying subsidy and you've got the money, why are we still borrowing?" — Lamido Sanusi questions federal government's economic policies and borrowing plans pic.twitter.com/QjGemTVjVJ

— TheCable (@thecableng) April 24, 2026

SeverusSnape:
Demola, I'm surprised parachoko didn't call you IGBO in all these arguments. Gaskiya I'm shocked. You really schooled him, you get their time sha

Sirianese:
He's still borrowing and he must continue to borrow, because Nigeria's funds are rushing down the gullet of the Lebanese billionaire as fast as the crude oil is pumped out of the ground

marlow1962:
Sanusi I now believe you need glasses, obviously you are not seeing the good works of their first class graduate from Chicago, the Lagos maker, the Messiah of ebin pawa

Parachoko:
How much is it in dollars?

Elvis2kay:
I don't understand Jagaban again oo

demolagilbert:
He already attempted to. Thankfully I have been around these nairaland street for a while, so that was DOA

GODISGREAT123:
We are borrowing money because Tinubu is a first class graduate of accounting

You can't understand Sir

honour8:
This is exactly the point. The borrowing is not tied to anything, just reckless borrowing.

Greatex90:
Very good questions asked about this government.
There is no justification whatsoever for borrowing.
What improvement have you seen in Nigeria as regards infrastructural development.
Security is on zero levels, No jobs,
Commodities are unpayable.
What is he borrowing for.
It's 4 years yet no constant Light.

You quit paying subsidy yet no Nigerian refinery is working.
You nothing to say about this backward APC GOVERNMENT

Parachoko:
Nigeria was borrowing to pay for subsidy before Asiwaju became the President

Under Jonathan, we were borrowing to pay Salaries, borrowing to pay for subsidy, Pension, and also borrowing to build projects

Under Buhari, we were borrowing to pay subsidy on fuel, and also borrowing to pay salaries, pensions and also borrowing to build projects


Under Asiwaju, we're not borrowing to pay pensions or salaries, we're not borrowing to pay for subsidy, we're only borrowing to spend on Capital Projects.

I expect Sanusi to know there's no problem borrowing to build capital projects

WorkTheTalk:
Your drug lord in the mud. Keep fooling around, data boy.
https://x.com/chukwe/status/1918818416317600045?t=9Cn1FGgZ6KJijLI1P5JNAw&s=19[/quote]Is this your dad? i like his glasses.

Parachoko:
List out the road Projects Jonathan constructed

Parachoko:
Nigeria was borrowing to pay for subsidy before Asiwaju became the President

Under Jonathan, we were borrowing to pay Salaries, borrowing to pay for subsidy, Pension, and also borrowing to build projects

Under Buhari, we were borrowing to pay subsidy on fuel, and also borrowing to pay salaries, pensions and also borrowing to build projects


Under Asiwaju, we're not borrowing to pay pensions or salaries, we're not borrowing to pay for subsidy, we're only borrowing to spend on Capital Projects.

I expect Sanusi to know there's no problem borrowing to build capital projects

FatherLord:
If I may ask, so what are we using our revenue from oil and other sources for if you and your Tinubu still have to borrow to do capital projects ? .

Gboss247:
See question!
Imagine the citizen of an import dependent nation asking where they are borrowing.
The dollars used to paid for the foreign and services you consume, do they fall from the sky?

olaztek:
Between tinubu and Donald trump, I no know who lie pass

Hez143:
the loan is for infrastructure nah