₦airaland Forum

Nigeria Is Not An Oil Rich Country. Without President Tinubu's Policies, Our Economy Would Have Collapsed!

Nigeria Is Not An Oil Rich Country. Without President Tinubu's Policies, Our Economy Would Have Collapsed! pic.twitter.com/JwriIXkayf

— Reno Omokri (@renoomokri) May 24, 2026

Nigeria is an oil rich country...


With much/a larger portion of our oil resources being stolen or unaccounted for.


Reno don't tell us black is white... just because you are now feeding from the national cake and drinking palm wine from the calabash with the theives. It's insulting to people's intelligence telling them black is white.

Is like robbing a man his property and still throwing him in prison for crying.


Reno used to make brilliant points. I wonder what happened to him!

Nigerians are too ignorant for tbeir own good..... the economy that had been bastardised for over 5 decades was tanking real fast and would have practically ground to a halt if we had continued the buhari economic policies.

We were spending about 100% of our revenue servicing debts....we had to practically borrow for everything else even paying salaries......tinubu came and brought that down to about 66% and obidients are here telling us bunkum that where is the subsidy savings,we were borrowing too much?

If there obi comes he should cone and tell us how he will transform the economy in 4 years without more drastic reforms that will make nigerians cry more blood.....you want a good country but don't want to pay the price.

Never seen a more despicably inept bunch of empty heads like those guys.

The confused opposition supporters are expecting president Tinubu to clear decades old rots in Nigeria within 4 years.

I guess they started walking immediately they were born

Any madman can make better policies than the dr"glord.

there's nothing special about that man

Why should we believe a double edged like yourself.
Nigeria a an oil rich country, just western influence and greedy politicians won't let it work. A mental slavery we need to emancipate from.

Reno has never changed. He is very consistent if you want to be sincere. People forget he was part of Jonathan's Administration that pride themselves on creating more billionaires than anyone.

Remember: Our Oil Our Money. We Can Spend It Anyway We Want. Niger Delta remains Environmental Swamp under Jonathan, worse than when Jonathan met it. Ask the farmers.

I'm very sure this nimcompoop was saying the exact opposite when he was working for GEJ

A lying snake will always be a lying snake.

There's no point reasoning with a snake.

By the same logic, China is not a rich country!

banku:
Reno has never changed. He is very consistent if you want to be sincere. People forget he was part of Jonathan's Administration that pride themselves on creating more billionaires than anyone.

Remember: Our Oil Our Money. We Can Spend It Anyway We Want. Niger Delta remains Environmental Swamp under Jonathan, worse than when Jonathan met it. Ask the farmers.

Nigeria is an oil rich country with abundant oil reserve. Let no man bamboozle us with lies.

I have these few for Reno or whoever is wiling to answer.

1. Reno in that video claimed previous Naira to USD rates weren’t the real rates and that the FG spent $1.5bn monthly to defend it for “political reasons”. My questions are:

At what point was Naira never its true value? The 70s, 80s, 90s, 00s, 10s, 20s?

Who started “defending” the Naira?

What is the metric used to determine that whatever the value of Naira is now is the “true” value as claimed by you and the Tinubu administration?

Melezenawii:
Nigeria Is Not An Oil Rich Country. Without President Tinubu's Policies, Our Economy Would Have Collapsed!

Nigeria Is Not An Oil Rich Country. Without President Tinubu's Policies, Our Economy Would Have Collapsed! pic.twitter.com/JwriIXkayf

— Reno Omokri (@renoomokri) May 24, 2026

So this hediot is still alive?

''OIL RICH'' Nigeria's annual budget - $40 billion

USA annual budget - $7 trillion

Nigeria population 250 million

USA population 330 million

........

TRANSLATION: NIGERIA PRODUCES OIL.

BUT NIGERIA IS NOT ''OIL-RICH''.

What Nigeria needs is continued economic diversification away from oil, continued investment in new industries and manufacturing, accelerated investment in LNG - since we are actually more ''GAS RICH'' than ''OIL RICH'' - and better taxation systems to raise govt revenue, in order to increase the budget, NOT sitting around thinking you are ''OIL RICH'' with ''wicked politicians'' looting all the ''OIL RICHES'' that exist in your heads only.

brain54:
Nigeria is an oil rich country...


With much/a larger portion of our oil resources being stolen or unaccounted for.


Reno don't tell us black is white... just because you are now feeding from the national cake and drinking palm wine from the calabash with the theives. It's insulting to people's intelligence telling them black is white.

Is like robbing a man his property and still throwing him in prison for crying.


Reno used to make brilliant points. I wonder what happened to him!

Funny thing is that you are likely a graduate. Comments like this make question the quality of youths we have in Nigeria. We have youths who are shallow in information and context. They have little idea of numbers and weak understanding of macro and micro economic numbers.

Let's assume our leaders don't steal, Nigeria is still a very poor country. That is the fact many of you don't realize or are poorly equipped to understand.

Reno's assertion is very correct. Nigeria is not an oil-rich country but an oil-poor country.

First, our entire oil reserves is nothing compare to countries like Kuwait, Saudi, Qatar, UAE, Iran and Russia. These are examples of oil-rich countries. What's more, our country has more population than these countries. Iran and Russia which are the largest of these countries have less than half our population.

A country like Saudi produced 10 million barrels of oil per day before the Iran war. Nigeria in contrast, produces around 1.6 million. Whereas, the population of Saudi is 35 million, ours is 250 million. There is also a strong correlation between the amount of oil a country can produce and quantity of oil reserves in that country. For an average Nigerian to have the same oil production per capita as an average Saudi citizen, Nigeria would need to produce around 70 million barrels of oil per day, which is impossible. For context, the entire world produced around 100 million barrels per day before the Iran war.

I, like most Nigerians, believe that corruption is our biggest problem. But, we need to educate ourselves that even without corruption, our country is very poor, given our population. Unfortunately, many Nigerians believe we are rich.

The entire revenue of Nigeria before politicians start stealing from it is around $45bn. $45bn cannot deliver real goods for a country like Nigeria. For your information, California state budgeted $140bn just for education this year. Compare us to other African countries, then you would realize how poor we are are. South Africa, with a population 65 million, had a revenue of $127bn last year. Egypt with half of our population made $55bn last year.

The fact is that we need more private investments in our economy, more efficient tax collection, sustainable power supply to trigger SMEs and security for us to boost our revenue. There is a level of revenue a country could make that would make the living standard of citizens of such country resistant to corruption.

Most of these oil-rich countries are very corrupt, but their citizens still lead better quality of lives than Nigerians. Putin and many Russian officials are very corrupt. The Emirs in the Middle East treat their countries' oil wealth almost as their personal wealth, which is worse that the stealing we have in Nigeria. However, their citizens enjoy far better high quality of lives. The politicians in Lagos State are probably the most corrupt in Nigeria, but Lagos State still delivers more top notch projects than other states in Nigeria because they have more revenue.

Melezenawii:
Nigeria Is Not An Oil Rich Country. Without President Tinubu's Policies, Our Economy Would Have Collapsed!

Nigeria Is Not An Oil Rich Country. Without President Tinubu's Policies, Our Economy Would Have Collapsed! pic.twitter.com/JwriIXkayf

— Reno Omokri (@renoomokri) May 24, 2026

You go explain tire ... Tinubu is a goner. Start begging Atiku now, as the ambassador post from Tinubu is a skit/scam.

DoTheNeedful:
Funny thing is that you are likely a graduate. Comments like this make question the quality of youths we have in Nigeria. We have youths who are shallow in information and context. They have little idea of numbers and weak understanding of macro and micro economic numbers.

Let's assume our leaders don't steal, Nigeria is still a very poor country. That is the fact many of you don't realize or are poorly equipped to understand.

Reno's assertion is very correct. Nigeria is not an oil-rich country but an oil-poor country.

First, our entire oil reserves is nothing compare to countries like Kuwait, Saudi, Qatar, UAE, Iran and Russia. These are examples of oil-rich countries. What's more, our country has more population than these countries. Iran and Russia which are the largest of these countries have less than half our population.

A country like Saudi produced 10 million barrels of oil per day before the Iran war. Nigeria in contrast, produces around 1.6 million. Whereas, the population of Saudi is 35 million, ours is 250 million. There is also a strong correlation between the amount of oil a country can produce and quantity of oil reserves in that country. For an average Nigerian to have the same oil production per capita as an average Saudi citizen, Nigeria would need to produce around 70 million barrels of oil per day, which is impossible. For context, the entire world produced around 100 million barrels per day before the Iran war.

I, like most Nigerians, believe that corruption is our biggest problem. But, we need to educate ourselves that even without corruption, our country is very poor, given our population. Unfortunately, many Nigerians believe we are rich.

The entire revenue of Nigeria before politicians start stealing from it is around $45bn. $45bn cannot deliver real goods for a country like Nigeria. For your information, California state budgeted $140bn just for education this year. Compare us to other African countries, then you would realize how poor we are are. South Africa, with a population 65 million, had a revenue of $127bn last year. Egypt with half of our population made $55bn last year.

The fact is that we need more private investments in our economy, more efficient tax collection, sustainable power supply to trigger SMEs and security for us to boost our revenue. There is a level of revenue a country could make that would make the living standard of citizens of such country resistant to corruption.

Most of these oil-rich countries are very corrupt, but their citizens still lead better quality of lives than Nigerians. Putin and many Russian officials are very corrupt. The Emirs in the Middle East treat their countries' oil wealth almost as their personal wealth, which is worse that the stealing we have in Nigeria. However, their citizens enjoy far better high quality of lives. The politicians in Lagos State are probably the most corrupt in Nigeria, but Lagos State still delivers more top notch projects than other states in Nigeria because they have more revenue.

You are guilty of the same thing you are accusing him of

You can't just be comparing nominal figures without considering the cost of living. A single person earning 1200 dollars per annum in Nigeria isn't necessarily poor while someone earning 20k dollars per annum in Saudi Arabia or the USA is poor. 1.6 million barrels per day of oil in Nigeria is more than sixteen million bpd in Saudi Arabia unless when you are buying Tesla cars, iphones and etc which Nigerians generally don't buy. Nigeria isn't poor but it has a challenge of good management. A country where the average couple fully own their own home before their fifties isn't a poor country.
Nigeria can be described as oil rich since the oil is there. It is also coal rich, cocoa rich, cassava rich, groundnut rich and etc. It has all these things in excess

lawani:
You are guilty of the same thing you are accusing him of

You can't just be comparing nominal figures without considering the cost of living. A single person earning 1200 dollars per annum in Nigeria isn't necessarily poor while someone earning 20k dollars per annum in Saudi Arabia or the USA is poor. 1.6 million barrels per day of oil in Nigeria is more than sixteen million bpd in Saudi Arabia unless when you are buying Tesla cars, iphones and etc which Nigerians generally don't buy. Nigeria isn't poor but it has a challenge of good management. A country where the average couple fully own their own home before their fifties isn't a poor country.
Nigeria can be described as oil rich since the oil is there. It is also coal rich, cocoa rich, cassava rich, groundnut rich and etc. It has all these things in excess

Regardless of how you slice it, Nigeria is a poor country even without corruption. Besides, I think you have a comprehension problem. The only reason I used Saudi is because we are talking about oil. All the countries we consider oil-rich explore far more than Nigeria and their entire population are not up to a state in some cases.

Qatar is the largest gas-exporting country in the world, but their population is less than Anambra state. The earlier we know that Nigeria has a revenue problem the better. $45bn annual revenue is very low for a country of 250 million people. There is no way to justify it. We need to be honest with ourselves.

DoTheNeedful:
Regardless of how you slice it, Nigeria is a poor country even without corruption. Besides, I think you have a comprehension problem. The only reason I used Saudi is because we are talking about oil. All the countries we consider oil-rich explore far more than Nigeria and their entire population are not up to a state in some cases.

Qatar is the largest gas-producing country in the world, but their population is less than Anambra state. The earlier we know that Nigeria has a revenue problem the better. $45bn annual revenue is very low for a country of 250 million people. There is no way to justify it. We need to be honest with ourselves.

Yes Nigeria has a revenue problem which has been massively reduced by the current government but what one dollar can do in Nigeria, twenty dollars may not be able to do it in some high income countries

lawani:
Yes Nigeria has a revenue problem which has been massively reduced by the current government but what one dollar can do in Nigeria, twenty dollars may not be able to do it in some high income countries

Your comparison of cost of the differing value of money across countries does not always cut it at the macro level. Projects such as roads, power generation and other large scale infrastructures are usually contracted out to foreign countries who would charge you in dollars. If a country is not making enough money in dollar, it becomes difficult to execute world class infrastructures. This is one of the reasons Nigeria is lacking in real development.

DoTheNeedful:
Your comparison of cost of the differing value of money across countries does not always cut it at the macro level. Projects such as roads, power generation and other large scale infrastructures are usually contracted out to foreign countries who would charge you in dollars. If a country is not making enough money in dollar, it becomes difficult to execute world class infrastructures. This is one of the reasons Nigeria is lacking in real development.

It cuts it to a large extent and that is why Europe and the US are losing business to the Chinese and it is why Dangote used Indians to build his refinery etc etc. Then any company can train and use some local people for many of their tasks so as to reduce costs. All the manual labor will of course be local at less than a tenth of the cost in high income countries. For workers from their own countries you will need to pay the dollars. However the bulk of any budget in any country will be local personnel costs which is very cheap in low income countries

lawani:
It cuts it to a large extent and that is why Europe and the US are losing business to the Chinese and it is why Dangote used Indians to build his refinery etc etc. Then any company can train and use some local people for many of their tasks so as to reduce costs. All the manual labor will of course be local at less than a tenth of the cost in high income countries. For workers from their own countries you will need to pay the dollars. However the bulk of any budget in any country will be local personnel costs which is very cheap in low income countries

I largely disagree with you. The manual (and largely unskilled) labor we provide represent a tiny fraction of the cost of building a world class infrastructure, even if you ask China to build it. Perhaps, the Dangote refinery would not have cost him $20bn if it is all about manual labor.

I don't want you to lose sight of my previous argument, which is enough dollars to build world-class infrastructure we need. Procurement, engineering and logistics take the most part of the fund. These are largely paid for in dollars, since we don't have the structure in place.

Anyway, like I previously stated, we have a real revenue problem in Nigeria. As a result, it is difficult to finance certain projects that can take us out of the woods.

helinues:
The confused opposition supporters are expecting president Tinubu to clear decades old rots in Nigeria within 4 years.

I guess they started walking immediately they were born

I thought you wrote here then how Buhari had stabilized the economy and how everything was going well... insulting oppositions then...

Today, Tinubu is again clearing rots according to you...

When men have no integrity, conscience, or shame....truth becomes alien to them...Anyway, with Tinubu as role model,.no depth is too steep to sink morally. Nothing about character...men with dead conscience... sadists....anarchists....blood suckers

DoTheNeedful:
I largely disagree with you. The manual (and largely unskilled) labor we provide represent a tiny fraction of the cost of building a world class infrastructure, even if you ask China to build it. Perhaps, the Dangote refinery would not have cost him $20bn if it is all about manual labor.

I don't want you to lose sight of my previous argument, which is enough dollars to build world-class infrastructure we need. Procurement, engineering and logistics take the most part of the fund. These are largely paid for in dollars, since we don't have the structure in place.

Anyway, like I previously stated, we have a real revenue problem in Nigeria. As a result, it is difficult to finance certain projects that can take us out of the woods.

Yes equipments can only be gotten from those who have the tech. However what percentage of any budget is used to buy such equipments? Not much. And not often. So when you add everything together, a 100 million dollar defense budget in China will be worth close to 400 million dollars in the US and at most 50 million dollars in Nigeria. If you now go to education budget and etc, the disparity will even be more. A drone that costs 20k dollars in Iran is being quoted to be worth over 200k dollars by US defense manufacturers and etc. That is the real world we have today

lawani:
Yes equipments can only be gotten from those who have the tech. However what percentage of any budget is used to buy such equipments? Not much. And not often. So when you add everything together, a 100 million dollar defense budget in China will be worth close to 400 million dollars in the US and at most 50 million dollars in Nigeria. If you now go to education budget and etc, the disparity will even be more. A drone that costs 20k dollars in Iran is being quoted to be worth over 200k dollars by US defense manufacturers and etc. That is the real world we have today

I understand what you wrote perfectly, but for an import dependent country like Nigeria, it is more nuanced. Besides, we don't need to drag this issue too long. If we made more dollars in Nigeria, we would have more road, more power and other infrastructure.

Your Iran missile example is very wrong. The technology and the idea behind the $20k Iran drone is different from America's. The US drone are designed to be intelligent and more discriminative with their target. Currently, the US is deploying drones with similar philosophy with Iran's and it costs around $35k. You may check out LUCAS (Low-cost Uncrewed Combat Attack System) drones. In fact, they are testing even drones that are significantly cheaper than the LUCAS drones.

Omokri is 💯% correct. I especially like how he said Nigerians are illiterate in matters of economics and only interested in eba and Rice because I have made same point here a million times.

We have a problem with adult functional illiteracy. We have a supposedly educated class who tag Adelabu "Minister of darkness" whereas he is the Power Minister who has tried to address the issue of non Cost-reflective tariffs.

Non cost-reflective tariffs is a critical problem for revamping our power sector that is now fully privatised and pivotally in need of investor cash which will not arrive if Nigerians don't wish to pay the real cost of power generation, transmission and distribution and then the extra required for investors to get profit returns on their investment.

We can see the reality explained in black and white below yet Nigerian adults will still label a Minister who is attempting to deliver the specifically correct solution to a major problem as "Minister of Darkness".

Nigeria has a big problem with adult functional illiteracy that mean most men and women do not know what they should as adults and are only interested in "eba and Rice".

This is why they cannot understand that Tinubu, like Adelabu was, is delivering requisite solutions to our problems.

DoTheNeedful:
I largely disagree with you. The manual (and largely unskilled) labor we provide represent a tiny fraction of the cost of building a world class infrastructure, even if you ask China to build it. Perhaps, the Dangote refinery would not have cost him $20bn if it is all about manual labor.

I don't want you to lose sight of my previous argument, which is enough dollars to build world-class infrastructure we need. Procurement, engineering and logistics take the most part of the fund. These are largely paid for in dollars, since we don't have the structure in place.

Anyway, like I previously stated, we have a real revenue problem in Nigeria. As a result, it is difficult to finance certain projects that can take us out of the woods.

💯% correct. You've made sound arguments

Nigeria needs her huge adult population to be more productive, critical-thinking and a far greater part of our solution mix than they currently are. This is the basic truth not many are confronting.

Omokri is 💯% correct but Nigerian adults, far more sentimental and ignorant than their peers worldwide, will never agree.

Most simplistically believe we have oil and every Nigerians should be wealthy. Most Nigerians don't know what they should as supposedly educated adults and Omokri is right concluding they only know eba and Rice.

DoTheNeedful:
Funny thing is that you are likely a graduate. Comments like this make question the quality of youths we have in Nigeria. We have youths who are shallow in information and context. They have little idea of numbers and weak understanding of macro and micro economic numbers.

Let's assume our leaders don't steal, Nigeria is still a very poor country. That is the fact many of you don't realize or are poorly equipped to understand.

Reno's assertion is very correct. Nigeria is not an oil-rich country but an oil-poor country.

First, our entire oil reserves is nothing compare to countries like Kuwait, Saudi, Qatar, UAE, Iran and Russia. These are examples of oil-rich countries. What's more, our country has more population than these countries. Iran and Russia which are the largest of these countries have less than half our population.

A country like Saudi produced 10 million barrels of oil per day before the Iran war. Nigeria in contrast, produces around 1.6 million. Whereas, the population of Saudi is 35 million, ours is 250 million. There is also a strong correlation between the amount of oil a country can produce and quantity of oil reserves in that country. For an average Nigerian to have the same oil production per capita as an average Saudi citizen, Nigeria would need to produce around 70 million barrels of oil per day, which is impossible. For context, the entire world produced around 100 million barrels per day before the Iran war.

I, like most Nigerians, believe that corruption is our biggest problem. But, we need to educate ourselves that even without corruption, our country is very poor, given our population. Unfortunately, many Nigerians believe we are rich.

The entire revenue of Nigeria before politicians start stealing from it is around $45bn. $45bn cannot deliver real goods for a country like Nigeria. For your information, California state budgeted $140bn just for education this year. Compare us to other African countries, then you would realize how poor we are are. South Africa, with a population 65 million, had a revenue of $127bn last year. Egypt with half of our population made $55bn last year.

The fact is that we need more private investments in our economy, more efficient tax collection, sustainable power supply to trigger SMEs and security for us to boost our revenue. There is a level of revenue a country could make that would make the living standard of citizens of such country resistant to corruption.

Most of these oil-rich countries are very corrupt, but their citizens still lead better quality of lives than Nigerians. Putin and many Russian officials are very corrupt. The Emirs in the Middle East treat their countries' oil wealth almost as their personal wealth, which is worse that the stealing we have in Nigeria. However, their citizens enjoy far better high quality of lives. The politicians in Lagos State are probably the most corrupt in Nigeria, but Lagos State still delivers more top notch projects than other states in Nigeria because they have more revenue.

So what’s the summary? That corruption isn’t Nigeria’s problem? Where exactly did you get the statistics claiming Russian politicians are more corrupt than their Nigerian counterparts? If Nigeria wasn’t drowning in corruption, all the metrics you listed for a good living environment could actually be achieved here. The truth is simple, until our politicians stop looting and mismanaging resources, Nigeria will never deliver the quality of life its citizens deserve.

DoTheNeedful:
I understand what you wrote perfectly, but for an import dependent country like Nigeria, it is more nuanced. Besides, we don't need to drag this issue too long. If we made more dollars in Nigeria, we would have more road, more power and other infrastructure.

Your Iran missile example is very wrong. The technology and the idea behind the $20k Iran drone is different from America's. The US drone are designed to be intelligent and more discriminative with their target. Currently, the US is deploying drones with similar philosophy with Iran's and it costs around $35k. You may check out LUCAS (Low-cost Uncrewed Combat Attack System) drones. In fact, they are testing even drones that are significantly cheaper than the LUCAS drones.

I think the drone is called the Shahed drone or so. It was reverse engineered by US manufacturers and quoted to be worth over 200k if produced in the USA according to someone on Quora who is obviously knowledgeable on the matter. Per Capita income in Iran is less than 5k dollars while US is over 60k dollars. These things however are obvious and ordinarily should not be debated. Take a senior medical consultant in Nigeria earning less than ten thousand dollars per annum living in a nice duplex, training three kids in good private schools and etc in a place like Akure, Kano, Onitsha, Ibadan or Ilesa, how much do you think he will need to earn in the USA to be able to afford the same standard of living? I believe more than 150k dollars per annum. I think that is a good enough example of the anomaly we are dealing with. It reflects in the GDP, government expenditure and everything

I hate to agree with Reno and with any agbadoe commentators and defenders, but he is right.

SLS, the Emir of Kano said as much in 2012, that the reason why Libya looks very rich is that the revenue from one barrel of oil is used to meet 3 libyans needs. Nigeria? Several dozens of people rely on one barrel of oil.

Infact, all our past governments one way or the other have said what Reno has been saying. That is why since the 1980's there has been this discussion that we have a lot of raw mateirals and resources, why not use them? The problem is, government has not been dealing enough with illegal mining as it should. Even this lithium that they have discovered, I hope they won't lose it to stealing.

But what Nigeria needs is simple....we need to develop an economy based on manufacturing exportable industrial goods and services. That would make us so rich we would be giving the Saudis loans self. It is because most of us, especially most Nairalanders on this site, think that all we need to do is to fight corruption and share the money equitably, that anytime I point it out, people go shoult Agbado. (It is even getting to the point that I am begining to wonder if people on this site actually did economics in secondary school self).

Yes, we got to fight corruption, and one of the reasons why I will be voting APC out again next year is because they have done badly in this regard. But if we eliminated corruption, our revenue is about 45-100 billion dollars, which is far far scanty scantylobius. That is why we need to do more than just shouting corruption.

But knowing Nigerians, while I am hopeful that tinubu would be voted out, the next admin would just be like tinubu because Nigerians would be shouting it is our turn, not let us develop.

helinues:
The confused opposition supporters are expecting president Tinubu to clear decades old rots in Nigeria within 4 years.

I guess they started walking immediately they were born

his own rot requires only DIVINE MERCY to be cleared

Javid13:
So what’s the summary? That corruption isn’t Nigeria’s problem? Where exactly did you get the statistics claiming Russian politicians are more corrupt than their Nigerian counterparts? If Nigeria wasn’t drowning in corruption, all the metrics you listed for a good living environment could actually be achieved here. The truth is simple, until our politicians stop looting and mismanaging resources, Nigeria will never deliver the quality of life its citizens deserve.

He is right, even though he supports tinubu.

Russia is very corrupt, oh yes, but they have an industrial economy that exports, and they also have a good arms industry and space related industry, among other things.

Nigeria? Let us say we fight corruption today, and it is gone, or let us imagine that tinubu elimiated corruption by June 2023. Our oil revenue is still way below 100 billion dollars per barrel. That is way below what sane countries that you people admire spend on healhcare alone, or even education alone. Remember we do not have actively exporting industries, our armaments industry is very poor, and we have a poor record of managing revenue from non-oil raw materials. Our agric industry cannot feed our nation, even if there was no boko or herdsmen issues.

A country of 230 million, even 100 million cannot live a decent life on just less than 50 -100 billion dollars. Either government borrows something like 300-500 billion dollars per annum, or forget about it.

We need to do more like industrialize, and improve tax /revenue uptake. And if you think I am supporting corruption, just remember that fighting corruption is part of the solution too...but fighting corruption does not improve revenue at all. It just prevents leakage from the poor revenue we got.

That's another reason why we were struggling to pay for subsidy for decades. Removing subsidy reduced the amount of money we were using from our limited resources to spend on it. It did not improve overall revenue. That takes other methods.