₦airaland Forum

nairalanda1:
8 million naira plus a whole lot of debt in loans and more loans, that was the cost back then..loans taken to replace the monies taken from the budget to subsidise fuel, electricity, and a host of other things....which worsened our debt.

Once you understand how subsidy works, you go get am, you will even get how karma forced tinubu to remove it totally.

By 2022 , we were seeing the end result of decades of taking on more debt to pay for subsidy. All our revenue was going for debt servicing. All of it. Plus including new loans.

The only good thing is that tinubu supporters to some extent now understand why GEJ wanted to remove fuel subsidy...indeed some Nigerians may now understand why world bank and imf wanted us to remove subsidy as far back as 1992...because the thing with subsidy is you can budget X for subsidy for one year, then oil price go rise up, and so does the cost of subsidy, meaning you go take money from other sectors of the budget, and borrow to fill up the resultant deficit. And the scary thing is the money is not going to be enough.

Yet we have said no, no, no. Now here we are. Forced to take a decision that should have been taken decades ago, to expereience pain that should have been done with decades ago.

Yet most nigerians, even tinubu supporters , want subsidy back. LOL. Most tinubu supporters who defend subsidy removal on petrol become angry when asked about removing subsidy on electricity totally.

Garbage as usual.

Writing plenty words without saying nothing.

So FG was paying 60m in the name of Subsidy. What a big scam by oil marketers, thank God for Tinubu delivering Nigeria from this Oil cabals

Nextjs:
I just saw this on Facebook now and a lot went through my mind.

Someon even responded that it's selling for
60,750,000 naira now in matrix dapo.

nairalanda1:
8 million naira plus a whole lot of debt in loans and more loans, that was the cost back then..loans taken to replace the monies taken from the budget to subsidise fuel, electricity, and a host of other things....which worsened our debt.

Once you understand how subsidy works, you go get am, you will even get how karma forced tinubu to remove it totally.

By 2022 , we were seeing the end result of decades of taking on more debt to pay for subsidy. All our revenue was going for debt servicing. All of it. Plus including new loans.

The only good thing is that tinubu supporters to some extent now understand why GEJ wanted to remove fuel subsidy...indeed some Nigerians may now understand why world bank and imf wanted us to remove subsidy as far back as 1992...because the thing with subsidy is you can budget X for subsidy for one year, then oil price go rise up, and so does the cost of subsidy, meaning you go take money from other sectors of the budget, and borrow to fill up the resultant deficit. And the scary thing is the money is not going to be enough.

Yet we have said no, no, no. Now here we are. Forced to take a decision that should have been taken decades ago, to expereience pain that should have been done with decades ago.

Yet most nigerians, even tinubu supporters , want subsidy back. LOL. Most tinubu supporters who defend subsidy removal on petrol become angry when asked about removing subsidy on electricity totally.

Stop Na
What do you gain from such shallow reasoning?
They removed subsides...yet...this administration has taken more LOANS in Nigeria history.
I mean...what do you people gain from your blind partisanship?

helinues:
When it was that 8 m, how many Nigerians are into oil business?

Una see why it's a waste of time to be engaging with some of those opposition supporters. Their reasonings are aged as stone age

Your father really made a huge mistake that night...

nairalanda1:
That is why I say we should vote out tinubu, vote in obi or anyone else, let them do things different, and if they do not, vote obi or whoever comes in out...till we get a leader who gives us a working economy, not free gifts.

I think I love this your option... Whoever messes up, vote them out after one term...

E go sweet me more if we fit do recall for those senators and house of rep members... Na every 6 months we go dey recall those ones, lol

Tenses:
Yes that feeling right now is anger.

Don't let go of it, carry it to the poll and vote out that criminal of a president.

Nigeria will be OK.

Why vote them out, when they can be given 5kg rice and lies of grading 1000 km road, and suffer for another 8 years.

Trust me, ricegerians will choose the option I stated.

I will never be well with Tinubh!

Counterigbolies:
simply because Nigeria refused to vote your packaged fraud

Your president lost in his home state of osun,lost in his adopted state of Lagos and FCT to this person u fraudulently try to twist facts against that nigerians didn't vote for him 😂😆😂. It was Nigerians that voted him and he won even with all the vote suppression
Shame on you .

peleson1:
Your president lost in his home state of osun,lost in his adopted state of Lagos and FCT to this person u fraudulently try to twist facts against that nigerians didn't vote for him 😂😆😂. It was Nigerians that voted him and he won even with all the vote suppression
Shame on you .

who is the president of Nigeria today?

helinues:
Who is this?Did I direct my comments to you?

On that 8m, how much was subsidy Govt already paid? How much (N400*33,000) is that?
Add it all up first, lets know the new difference!

abanihenry:
So FG was paying 60m in the name of Subsidy. What a big scam by oil marketers, thank God for Tinubu delivering Nigeria from this Oil cabals

Where u jump from? Subsidy has been in existence for decades yet obasanjo, Yar'Adua, Jonathan performed excellently and Nigerians lives were better..

Today everywhere begging, hunger and crime rate tripled

How do you explain this for crying out loud

tonididdy:
Stop Na
What do you gain from such shallow reasoning?
They removed subsides...yet...this administration has taken more LOANS in Nigeria history.
I mean...what do you people gain from your blind partisanship?

\

This point you have raised is a whole nother discussion

Yes, government takes more loans,because APC has failed.

The thing is, in 2015, APC talked long and hard about how they would diversify the economy...YET....up till today, 20% of government revenue does not come from oil or borrowing.

The result is a budget that is prepared based on how the price of oil looks like for the year, and every year, it has always been too low to adequately provide monies to fund the budget. So, borrowing.

Subsidies forced the government to borrow even more, which leads me to the scary part. If subsidy was still around, what tinubu would be borrowing would make today's borrowing look like chicken feed.

Again, it is because APC did not diversify the economy. And thus, a sign of their failure.

tpain121:
Garbage as usual.

Writing plenty words without saying nothing.

Thank you for reading it, and congrats on passing your primary 1 second term exams. Hope you got the promised toy car.

anonimi:
Okay won’t be on the ballot.

Amupitan’s INEC and Wike’s courts will ensure that they are not allowed to be on the ballots.

What's your favorite barbecue. Chicken or pork ?