₦airaland Forum

ElSudani:
The same type of mindset that made it impossible to generate and distribute more than 5000 mw of electricity.
Obi who is your leader even took it a step further by saying investment in infrastructure is a waste of money.
I bet a shadow factory is more important.

I am no obidient but Obi's economic blueprint is miles ahead of Mr Infrastructure's own. No empty lanes for the sake of it. Instead he built a factory to produce what his people consumes that they dont already produce. Thats what we need in principle. Imagine if we decide to have chocolate factories. Something that sustains soldiers in warfront yet we export it and cry of malnutrition. Imagine the garment factories springing up once again.
Imagine you dont have to import fabric from China or pharmaceuticals from India or flashlights and phone chargers from Shenzhen. Thats Obi's blueprint in principle.

CodeTemplar:
I am no obidient but Obi's economic blueprint is miles ahead of Mr Infrastructure's own. No empty lanes for the sake of it. Instead he built a factory to produce what his people consumes that they dont already produce. Thats what we need in principle. Imagine if we decide to have chocolate factories. Something that sustains soldiers in warfront yet we export it and cry of malnutrition. Imagine the garment factories springing up once again.
Imagine you dont have to import fabric from China or pharmaceuticals from India or flashlights and phone chargers from Shenzhen. Thats Obi's blueprint in principle.

Leave them. A father whose children are hungry and naked, says furnishing his house is the best thing they need

OneCandleAway:
Leave them. A father whose children are hungry and naked, says furnishing his house is the best thing they need

because he want to date the carpenters daughter.

CodeTemplar:
because he want to date the carpenters daughter.

Carpenters daughter would be the foreigners. The Lebanese, the whites. These old men have colonial mindset of white is master. That's why they run to Chatham house every election time.

helinues:
The sincerity in using the funds for what they are meant for have been the issue we have with the government

Each Nigerians now owe N700k plus on loans we didn't benefits anything from

Haaaa! Na you talk this one or has your account gotten hacked?!

Which infrastructures?

Omooba77:
Special Adviser to President Bola Tinubu on Policy Communication, Daniel Bwala, has said the current government has borrowed billions of dollars to invest in Nigeria’s infrastructure.

Bwala made the remark in response to a comment by the Emir of Kano, Muhammed Sanusi, saying that Nigeria invests between $30 billion and $100 billion every year to fix its infrastructure problems.

Posting on X, Bwala wrote: “Your Royal Highness, we are simply borrowing to invest in the most important areas of our economy, with infrastructure being the most crucial of them all.

“The lack of proper infrastructure needs at least $30 billion to $100 billion every year, but what we’re currently spending is not enough, so we have to borrow money.”

Sanusi had raised concerns about the Tinubu government still relying on borrowing even after removing the fuel subsidy, calling the situation financially inconsistent.

The Emir said that even though the subsidy system isn’t working in the long run, the benefits people were expecting from getting rid of it haven’t actually made them borrow less money.

He mentioned that Nigeria can no longer justify supporting foreign refineries as an oil-producing country.

The former Governor of Central Bank of Nigeria, CBN, also said that recent progress in domestic refining and exports is good for the economy.

The monarch also criticized the government’s way of managing money, stating that the savings from cutting subsidies should lead to less borrowing and clear signs of economic improvement.

https://dailypost.ng/2026/04/25/tinubu-borrowing-billions-to-invest-in-nigerias-infrastructure-presidency-replies-emir-sanusi/

Na mumu go fall for such news

franvincoop:
I am not Aminda but here is the alternative.
Let Nigeria leave OPEC like Angola and pump as much oil as we want without any restrictions/quota and sell even at a discounted price to meet the needs of 270 million people and stop all this borrow borrow and IMF/ADB/Eximbank entanglements as na rat race.
We can't be in OPEC and be living on oil pumping restrictions/quota and think we can progress as we don't have the same developmental requirements of Saudi or UAE which are more developed than us and can survive on quota/restrictions.

Do you know why USA - the biggest oil producer, Canada and Qatar are not members of OPEC?

Very Grateful for your response and this dialogue. We, as citizens are also part of the government even though we are not in office. Our objective and well thought out discussions can help the government with ideas, and also help the citizens to understand the challenges our government officials and policy makers like the president, governors and their cabinet faces.

If we leave OPEC to operate independently in the world's oil market, there are PROS and CONs, positive as well as negative consequences. Our country, Nigeria, through consultations with market experts, financial institutions, oil industry players, diplomatic and international cooperation experts, determined that it is better for Nigeria (whose budget almost entirely depends on oil revenue) to stay in OPEC, to reduce risk. Our international influence and dollar USD credit rating and risks are directly influenced by our OPEC status. There is also the risk of oversupply on international market which means big fall in price.

Would you as president of Nigeria take the risk of leaving OPEC? Imagine if price falls due to oversupply and nobody is willing to give us any loan, the country will grind to an immediate halt. We will have pure starvation in the country, not hunger ooo but real starvation- would you take that kind of risk?

Canada and USA are western countries and they are the buyers and they also often think they are better than everybody else.

Quatar have so much gas and oil revenue became insignificant in comparison to gas, so the left OPEC without much impact on their country. our own story will be different - we are not in that position.

Happy Sunday brother, I am also grateful for your response, I believe in the force of argument, not the argument of force with insults as is on nairaland for the past 7+ years.

In my opinion, with the situation Nigeria finds itself now, there are no cons to leaving OPEC, only pros.
I'll explain, take 10,000 naira as the income produced from selling oil for a year.
Imagine 10,000 naira has been feeding 5 children 3 meals per day, now tell me if that same 10,000 naira can feed 10 children 3 meals per day with the same portions it fed 5 children.
The answer is no, to feed 10 children with 10,000 naira it's either you lower the food quality and quantity or you feed them heavily only once a day.
You will be forced to borrow another 10,000 naira to make 20,000 naira to feed 10 children 3 times a day.
Reminder, your 10,000 naira is constant while the amount of mouths to feed has increased.
This is Nigeria.
Our oil production revenue is not increasing at the same place as our population and development needs are increasing.

Our country, Nigeria, through consultations market experts, financial institutions, oil industry players, diplomatic and international cooperation experts, determined that it is better for Nigeria (whose budget almost entirely depends on oil revenue) to stay in OPEC, to reduce risk. Our international influence and dollar USD credit rating and risks are directly influenced by our OPEC status.

These are the international thieves fooling Nigeria, they want us to keep borrowing on interest for their selfish reasons, they are ready to give us loans even at midnight, meanwhile there is crude oil under our feet.
Our OPEC status does not influence our credit rating in any way, is Nigeria more credible than Ethiopia with no crude oil?
What of Singapore and Malta who have zero oil reserves but have only refineries, is Nigeria more credible than them because it's in OPEC?
There is no EU or Western country in OPEC, infact na only Venezuela wey no be African or Middle Eastern country that is in OPEC even Russia is not a member of OPEC, it's the plus+ in OPEC cuz it makes absolutely no sense especially as Russia oil is sanctioned and sold at discount price, to meet up revenue Moscow has to increase production, so tell me how OPEC will stop Putin from pumping any amount of oil it wants to balance it's economy?


All the countries in OPEC are small countries and I will prove it to you, look at your neighbors in the Central Africa region, Gabon and Equatorial Guinea are OPEC members, now do a simple math.
Divide the population of Gabon or Equatorial Guinea by their oil revenue and note how much each citizen can get, do the same with other OPEC countries, Saudi Arabia, UAE, Kuwait, Iraq and note the figure, then do the same with Nigeria.
Now compare the Nigeria figure with the figures from these other OPEC countries and tell me exactly why Tinubu should not wake up one morning and tell us OPEC is gone.

Would you as president of Nigeria take the risk of leaving OPEC? Imagine if price falls due to oversupply and nobody is willing to give us any loan, the country will grind to an immediate halt. We will have pure starvation in the country, not hunger ooo but real starvation- would you take that kind of risk?

My brother this one na Cinderella stories.
The countries outside OPEC are more than the countries inside OPEC and everyday more countries are discovering oil and drilling, take Senegal of recent.
The highest producer of oil is not in OPEC, the highest producer of gas is not in OPEC.
What does that tell you?
OPEC is a relic of the past.
Nigeria crude oil is even lighter than many of the high sulfur crude oil is some OPEC countries and we will not be missed if we leave, our quota will be shared to other countries in OPEC same as it was when Angola left.
Let me prove it to you that there can never be a glut or oversupply. Recently Russia oil which is OPEC+ oil was sanctioned and a price cap was put on the oil, can you tell me what happened?
Russia stopped selling to the EU and China and India became new buyers, who is buying sanctioned Venezuela and Iran oil?
What about Libya oil that General Haftar is selling?
You cannot have crude oil and not get a buyer and even if you sell at a discount, you can pump in an unlimited quantity and sell cheap to get big turnover.
Right now, OPEC is forcing us to sell small to get big turnover, but that OPEC quota big turnover is not enough for Nigeria.
As Nigeria President, my first word would be "OPEC is gone" and knowing that the economy is based on oil revenues, I would rather take loans to build a local refinery which will impact all Nigerians from North to South than building a coastal road that 50% of Nigerians will never travel on till they die.

OPEC is just another cartel that is not in our interest, same like Rockefeller Standard oil and the Seven sisters after.
Nigeria needs to broker a deal with China and India on crude oil and drive Britain, Italy the US and France away from the table.

I leave you in peace with this link

https://en.wikipedia.org/wiki/List_of_countries_by_oil_extraction

ibedun:
Very Grateful for your response and this dialogue. We, as citizens are also part of the government even though we are not in office. Our objective and well thought out discussions can help the government with ideas, and also help the citizens to understand the challenges our government officials and policy makers like the president, governors and their cabinet faces.

If we leave OPEC to operate independently in the world's oil market, there are PROS and CONs, positive as well as negative consequences. Our country, Nigeria, through consultations market experts, financial institutions, oil industry players, diplomatic and international cooperation experts, determined that it is better for Nigeria (whose budget almost entirely depends on oil revenue) to stay in OPEC, to reduce risk. Our international influence and dollar USD credit rating and risks are directly influenced by our OPEC status. There is also the risk of oversupply on international market which means big fall in price.

Would you as president of Nigeria take the risk of leaving OPEC? Imagine if price falls due to oversupply and nobody is willing to give us any loan, the country will grind to an immediate halt. We will have pure starvation in the country, not hunger ooo but real starvation- would you take that kind of risk?

Canada and USA are western countries and they are the buyers and they also often think they are better than everybody else.

Quatar have so much gas and oil revenue became insignificant in comparison to gas, so the left OPEC without much impact on their country. our own story will be different - we are not in that position.