₦airaland Forum

OP, I am by no means a Tinubu supporter but I am very objective in my analysis. Tinubu did the right thing to remove subsidies on petrol. He however lacks the power to decide how to use those freed funds. The constitution doesn't give him that power. By the law that set up the RMFAC, every naira that hits the federation account must be shared according to set down percentages. Tinubu is powerless to stop that.

Dogalmighty17:
OP, I am by no means a Tinubu supporter but I am very objective in my analysis. Tinubu did the right thing to remove subsidies on petrol. He however lacks the power to decide how to use those freed funds. The constitution doesn't give him that power. By the law that set up the RMFAC, every naira that hits the federation account must be shared according to set down percentages. Tinubu is powerless to stop that.

But he has the power to do other unthinkable things that he has been doing? He could have done it successfully if he wanted to do it, most of the Governors are with him, you cannot compare his time with Goodluck Jonathan time that all the Northern and Southwestern Governors ganged up against Goodluck just to bring him down at all cost



Tinubu could have done it without Governors challenging him or rejecting, he just didn't want to do it or he lacked the capacity and know how because he surrounded himself with his tribal men who are more interested in hailing him as their Alfa and omega than telling him the truth on how to lead Nigeria well for the good of all Nigerians

franchasng:
You see how you are just blabbing and deviating from the main topic haven realized that you were wrong in all your initial claims that removal of subsidy helped to build FX based on your ignorance?


I never said Tinubu shouldn't have removed subsidy even though it was not a wise decision entirely because almost all European countries and most developed Asian countries still subsidize their fuel to keep energy cost stable for economic growth and stability



But let's stay on the topic; how Tinubu should have handled fuel subsidy removal for a better Nigeria.


Yes Amaechi took FG under Goodluck to court because they were all ganging up against Goodluck in their desperate effort to sabotage Goodluck in order to bring him down in 2015.



If Tinubu wanted to save 70% of the money saved from fuel subsidy removal, I tell you that he wouldn't have had any objections from the Governors.



Ngozi Okonjo-Iweala a seasoned economists and global economy expert warned Nigerian Governors back then that sharing the money instead of saving it will cost Nigeria a lot. Peter Obi joined Ngozi Okonjo-Iweala and warned that the money should be saved, but the APC criminal Governors refused to listen.




If Tinubu had taken out 70% of the money saved from fuel subsidy removal and saved, it would have helped Nigeria's Naira and economy more than sharing it with state Governors just to make them happy and to make them to be hailing you as the President that made them to get highest monthly allocation.



Tinubu is supposed to be a Motor Park Chairman where he will be hailed daily by the lauts, drivers and conductors and not being in charge of a nation like Nigeria but it's sad that he, Buhari were so fortunate to find themselves in several positions they were never qualified or competent to handle

There's no way a Nigeria president will withhold state allocation without breaking the law, and that could even lead to impeachment because it will amount to constitutional breach.

Your opinion about what Tinubu should have done after the removal of fuel subsidy is weak and it exposes your lack of grasp of governance in Nigeria.

Accept you goofed and move on, nobody will beat you

Exousiang01:
You really need serious prayers.
One important prayer point should be that God grants you the grace to acquire knowledge and the capacity to understand it....

It's something you obviously lack.....

Let me just start by telling you that
1. Tinubu never removed fuel subsidy, He simply announced what had already been done.
Buhari administration had pegged May as the last month they will pay.
We didn't have the money, we were taking loans to pay the subsidy, Tinubu was entering the office on the 29th of may, if he was to continue paying that would mean, the first thing he would have done was to take a loan, (something the likes of you would have wailed about). There was no money to pay subsidy from June.

2. That brings me to number 2.
When you children keep talking about money saved from subsidy.
What exactly do you mean by that?
It is available in the public domain records that show we were borrowing to pay subsidy, we even had to use future produce of crude oil to get loan. Meaning we took money for crude that we had not even produced just to pay for subsidy, which means that crude we produced would not bring us money because we already took the money to pay for subsidy....

So when you are talking about money saved, I ask again, WHAT MONEY?
The one we didn't have?

What we have done here is that the government is aggressively repaying our debts, growing the external reserves and pumping the rest of our income to the governors and local government who are closer to the grass root.
If your village is having an issue hold our local government accountable, he has collected money. So also your state governor.

3. One has to have serious mental issue to suggest anything outside completely removing subsidy.

I think you are the one that needs serious prayers if you really think what you wrote up their is the only solution Tinubu had as a president, in fact let me school you and tell you where Tinubu not only got it wrong but absolutely messed up.

1. He didn’t just "announce" it — he chose Day 1 removal
Buhari’s budget funded subsidy till June 30, not May. A new president could’ve amended it. Tinubu chose to end it on inauguration day with zero palliatives ready. Other countries like Kenya and Ghana did phased removal. “No money” doesn’t force a Day-1 shock. And Nigeria kept borrowing after removal anyway — debt went from N87.9trn to N121.6trn.

2. "What money saved?" The money we no longer borrow
“Savings” = fiscal space, not cash in a vault. We were spending ~N400bn/month on subsidy. Ending it means N4.8trn/year you don’t have to borrow or find. Proof: FAAC jumped from ~N700-900bn monthly to N1.6-2.3trn after removal. States/LGs are literally getting 2x-3x more. External reserves also grew $33bn → $37bn. The savings exist — households just paid for them through 34% inflation. Read the bolded again

3. Total removal wasn’t the only sane option
Countries like Indonesia, India, Malaysia run targeted subsidies for the poor/transport. IMF/World Bank actually recommend removing subsidies with social protection in place first. We did shock first, palliatives later. Removing subsidy without fixing NNPC transparency or ensuring competition just gave us N600 → N1200 fuel with refineries still down. That’s not “reform,” it’s just price hikes.

Bottom line:
Yes, subsidy was unsustainable. The argument isn’t “keep it forever.” It’s about how and when. “No money” explains why you can’t continue forever, not why you couldn’t do a phased exit with CNG buses + cash transfers ready. And “hold your governor” ignores that FG still takes 52.68% of FAAC, and naira devaluation cut the value of those higher allocations.

Don't feel anyone countering Tinubu polices is just a village bigot without any knowledge of economics...

WizardOfNG:
We have to develop so many other sectors that can make us wealthy and secure. We must invest in creating the best-educated and trained human resources in Africa if possible.

Massively upscale our capacity to produce more goods the world wants. Refine our agriculture, since we have verdant land and good climate, to produce food produce the world will buy from us daily and profitably.

You sound like a student of Obi. Production but you are stuck with road constructing Oga.

franchasng:
I never said Tinubu shouldn't have removed subsidy even though it was not a wise decision entirely because almost all European countries and most developed Asian countries still subsidize their fuel to keep energy cost stable for economic growth and stability

Stopped reading at the bolded.

Every European country within the EU is mandated by Brussels to set Excise duty on fuel.

The EU placed €0.38 on every litre of fuel distilled in European refineries. Most countries apply a higher rate.

And on top of the excise duty, Europeans are expected to pay a minimum of 15% VAT on each purchase.

In Asia, there's no subsidy regime as Asian markets are wholly dependant on imported crude .

Also note that the EU is set to pass a carbon tax on fuel this coming year with countries like France already having carbon tax on diesel . This is what led to the year long Yellow Jacket riots and protests that plagued France .

You should stop posting here henceforth because you are just exposing your ignorance for all to see.

Other than gulf rich Arab countries, Egypt , Algeria and Iran, no other country on the planet has a fuel subsidy regime .

DomPerignon:
The most dangerous people in the planet are the half baked semi illiterates.

They think they know but they know nothing.

Absolutely.

sweerychick:
I think you are the one that needs serious prayers if you really think what you wrote up their is the only solution Tinubu had as a president, in fact let me school you and tell you where Tinubu not only got it wrong but absolutely messed up.

1. He didn’t just "announce" it — he chose Day 1 removal
Buhari’s budget funded subsidy till June 30, not May. A new president could’ve amended it. Tinubu chose to end it on inauguration day with zero palliatives ready. Other countries like Kenya and Ghana did phased removal. “No money” doesn’t force a Day-1 shock. And Nigeria kept borrowing after removal anyway — debt went from N87.9trn to N121.6trn.

2. "What money saved?" The money we no longer borrow
“Savings” = fiscal space, not cash in a vault. We were spending ~N400bn/month on subsidy. Ending it means N4.8trn/year you don’t have to borrow or find. Proof: FAAC jumped from ~N700-900bn monthly to N1.6-2.3trn after removal. States/LGs are literally getting 2x-3x more. External reserves also grew $33bn → $37bn. The savings exist — households just paid for them through 34% inflation. Read the bolded again

3. Total removal wasn’t the only sane option
Countries like Indonesia, India, Malaysia run targeted subsidies for the poor/transport. IMF/World Bank actually recommend removing subsidies with social protection in place first. We did shock first, palliatives later. Removing subsidy without fixing NNPC transparency or ensuring competition just gave us N600 → N1200 fuel with refineries still down. That’s not “reform,” it’s just price hikes.

Bottom line:
Yes, subsidy was unsustainable. The argument isn’t “keep it forever.” It’s about how and when. “No money” explains why you can’t continue forever, not why you couldn’t do a phased exit with CNG buses + cash transfers ready. And “hold your governor” ignores that FG still takes 52.68% of FAAC, and naira devaluation cut the value of those higher allocations.

Don't feel anyone countering Tinubu polices is just a village bigot without any knowledge of economics...

So you had to run his post through AI to get a biased response ?

Why post AI slop?

Also , I was in full support of GEJ removing subsidy just as I am sure you were also in support of it.

So why politiize it now?

DomPerignon:
Stopped reading at the bolded.

Every European country within the EU is mandated by Brussels to set Excise duty on fuel.

The EU placed €0.38 on every litre of fuel distilled in European refineries. Most countries apply a higher rate.

And on top of the excise duty, Europeans are expected to pay a minimum of 15% VAT on each purchase.

In Asia, there's no subsidy regime as Asian markets are wholly dependant on imported crude .

Also note that the EU is set to pass a carbon tax on fuel this coming year with countries like France already having carbon tax on diesel . This is what led to the year long Yellow Jacket riots and protests that plagued France .

You should stop posting here henceforth because you are just exposing your ignorance for all to see.

Other than gulf rich Arab countries, Egypt , Algeria and Iran, no other country on the planet has a fuel subsidy regime .

Young man, stop arguing with someone that have more knowledge and exposure than you. Stop it for your own good.


Go and read this document here from European Parliament https://www.europarl.europa.eu/RegData/etudes/IDAN/2017/595372/IPOL_IDA(2017)595372_EN.pdf



https://www.eea.europa.eu/en/analysis/indicators/fossil-fuel-subsidies



https://caneurope.org/news/european-semester-2025-spring-package-the-european-commission-urges-member-states-to-phase-out-fossil-fuel-subsidies/

I sef

DomPerignon:
So you had to run his post through AI to get a biased response ?

Why post AI slop?

Also , I was in full support of GEJ removing subsidy just as I am sure you were also in support of it.

So why politiize it now?

which biased AI? Counter one thing the post said which is not true

sweerychick:
I sef which biased AI? Counter one thing the post said which is not true

You pasted whoever you are countering their post on AI and asked it to give you a response to suit your argument.

I ran your post on an AI checker which I use everyday in evaluating reports/papers/proposals that I am expected to review and approve .

Stop lying.

If you want me to show you , I will screenshot it and paste it here.

It's not today obidients have been abusing AI to write rubbish here.

Radicalwarrior aka 21lucky aka 1nice is the biggest culprit here who keeps abusing AI to create dumb topics and posts here.

franchasng:
Young man, stop arguing with someone that have more knowledge and exposure than you. Stop it for your own good.


Go and read this document here from European Parliament https://www.europarl.europa.eu/RegData/etudes/IDAN/2017/595372/IPOL_IDA(2017)595372_EN.pdf



https://www.eea.europa.eu/en/analysis/indicators/fossil-fuel-subsidies



https://caneurope.org/news/european-semester-2025-spring-package-the-european-commission-urges-member-states-to-phase-out-fossil-fuel-subsidies/

Did you even read what you pasted from your AI response?

Subsidies in Europe amount to tax breaks .

You pay the full cost of the fuel and profit to the oil company .

The govt only reduces its taxes and waives off some other hidden taxes for certain category of people like those in agricultural sector, school busing , elderly waivers etc.

There is no subsidy of fuel. There's however waivers on tax on fuel for certain categories of people .

This does not translate to a subsidy regime where the govt shoulders a significant cost of the fuel in supply and does not impose VAT or exsice duty on fuel.

God you are irredeemable!

DomPerignon:
Did you even read what you pasted from your AI response?

Subsidies in Europe amount to tax breaks .

You pay the full cost of the fuel and profit to the oil company .

The govt only reduces its taxes and waives off some other hidden taxes for certain category of people like those in agricultural sector, school busing , elderly waivers etc.

There is no subsidy of fuel. There's however waivers on tax on fuel for certain categories of people .

This does not translate to a subsidy regime where the govt shoulders a significant cost of the fuel in supply and does not impose VAT or exsice duty on fuel.

God you are irredeemable!

European Parliament called it fuel subsidy and mentioned how much each EU country government spend subsidizing fuels for their country and you a local man in one corner in Southwest is here blabbing.
..


If government is supposed to tax every liter of petrol that enters their country say $0.2 and they waive it so that the importer can sell the fuel to the population that uses that fuel category at a price lesser by $0.2, is that not money that government have reduced in order to subsidize fuel cost in their country?


You are just arguing baselessly because you seem not to understand what you are arguing about.


European Parliament have been pushing for EU countries to stop fuel subsidies in order to channel the money to climate saving programs and projects but you are here blabbing that it's not money that they are using to subsidize their fuels.


What stopped Tinubu from removing the subsidy from some fuels and leaving subsidy on critical sector fuels like Jet A fuel, Diesel, etc?



Please don't quote me again because your reasoning is below par

franchasng:
European Parliament called it fuel subsidy and mentioned how much each EU country government spend subsidizing fuels for their country and you a local man in one corner in Southwest is here blabbing.
..


If government is supposed to tax every liter of petrol that enters their country say $0.2 and they waive it so that the importer can sell the fuel to the population that uses that fuel category at a price lesser by $0.2, is that not money that government have reduced in order to subsidize fuel cost in their country?


You are just arguing baselessly because you seem not to understand what you are arguing about.


European Parliament have been pushing for EU countries to stop fuel subsidies in order to channel the money to climate saving programs and projects but you are here blabbing that it's not money that they are using to subsidize their fuels.


What stopped Tinubu from removing the subsidy from some fuels and leaving subsidy on critical sector fuels like Jet A fuel, Diesel, etc?



Please don't quote me again because your reasoning is below par

You are not intelligent.

It's a subsidy because there is a reduction in price owing to the govt waiving off taxes for certain categories of people.

The govt loses tax revenue and so it is seen as govt subsidy because the main revenue of base for European countries is tax and levies.

Oga, go school abeg.

DomPerignon:
You are not intelligent.

It's a subsidy because there is a reduction in price owing to the govt waiving off taxes for certain categories of people.

The govt loses tax revenue and so it is seen as govt subsidy because the main revenue of base for European countries is tax and levies.

Oga, go school abeg.

I said don't quote me again because you are dull.


Same you said the main base of European countries economy is tax, and now they take away that core revenue just to keep the price of fuel stable for their economy and you said its not subsidy even when they called it subsidy and even EU Parliament told them to remove that subsidies on fuels yet a local man like you said its not subsidy because the government didn't carry money in a bag to give to the fuel importers or transfer to their bank accounts.



Do you know the worth of tax waiver in western countries? Do you know that getting a tax waiver from a western country government is bigger than getting a cash handout?


Please dont quote me again because you are arguing baselessly

franchasng:
Tinubu should have removed the subsidy and then take out 30% and share with the crooked state Governors and used the remaining 70% to remit into our foreign reserve which would have helped Nigerian Naira currency to gain value agains the dollar and other foreign currencies, with this, inflation would have stayed low and petrol price per liter would have remained around 750 Naira per liter.

Of course, President Tinubu didn't remove it, it was President Buhari that didn't make any provision for it in the budget and effectively removed it on his way out.

President Tinubu did have to announce it which is why people think he did. It was out of his hands even if he wanted to do a staged removal.

franchasng:
I said don't quote me again because you are dull.


Same you said the main base of European countries economy is tax, and now they take away that core revenue just to keep the price of fuel stable for their economy and you said its not subsidy even when they called it subsidy and even EU Parliament told them to remove that subsidies on fuels yet a local man like you said its not subsidy because the government didn't carry money in a bag to give to the fuel importers or transfer to their bank accounts.



Do you know the worth of tax waiver in western countries? Do you know that getting a tax waiver from a western country government is bigger than getting a cash handout?


Please dont quote me again because you are arguing baselessly

Taking trash and shifting goal posts.

Is the tax waivers the same thing as full subsidy that you are used to in Nigeria ?

Are you paying VAT on fuel at the pump ?

Nigeria is also one of a handful of countries that does not implement VAT on fuel, so does that mean Tinubu is running a subsidy on fuel ?

And if Tinubu then agrees to the recent IMF recommendation to impose VAT on fuel at the point of sale, will that then translate that Tinubu has removed subsidy ?

As I have earlier advised you, oga , go school .

franchasng:
I said don't quote me again because you are dull.


Same you said the main base of European countries economy is tax, and now they take away that core revenue just to keep the price of fuel stable for their economy and you said its not subsidy even when they called it subsidy and even EU Parliament told them to remove that subsidies on fuels yet a local man like you said its not subsidy because the government didn't carry money in a bag to give to the fuel importers or transfer to their bank accounts.



Do you know the worth of tax waiver in western countries? Do you know that getting a tax waiver from a western country government is bigger than getting a cash handout?


Please dont quote me again because you are arguing baselessly

Predictably, you want to flee your thread because of superior point. You are even agitated to the point of abusing Donperigon.

franchasng:
Today I am in a very good mood after listening to God's words as preached by my great Pastor who happens to be a wonderful Yoruba man.


For those that don't usually attend Church on Sundays and on special weekly activities, please try and be attending because the word of God is life, it rekindles your spirit and awakens the giant in you and propels you to greatness if you back it up with actions and faith.


Now back to the topic; how Tinubu should have handled the fuel subsidy removal for a better Nigeria.



Being a diehard Obidient and an Apostle of God-sent leader to rescue Nigeria from leadership quagmire, Mr Peter Obi, I want to give out just a single tip out of the many of how Tinubu should have handled the removal of fuel subsidy and Nigeria wouldn't have been in a disaster it is in today as a nation.


Before I reveal this tip, sometimes I wonder if Tinubu does not have smart thinking economic experts that should have guided him or was it that Tinubu refused to listen to good counsels just to feel like Jagaban that his followers call him that always mislead him by making his head swell.



Removing fuel subsidy at one go wasn't so smart but removing the whole fuel subsidy at once and taking the money saved from the removal of fuel subsidy to share with state Governors was a very terrible mistake from Tinubu. I suspect he did it to win state Governors to his side ahead of a second tenure contest.


If this method was wrong, how then should Tinubu have done it?


Tinubu should have removed the subsidy and then take out 30% and share with the crooked state Governors and used the remaining 70% to remit into our foreign reserve which would have helped Nigerian Naira currency to gain value agains the dollar and other foreign currencies, with this, inflation would have stayed low and petrol price per liter would have remained around 750 Naira per liter.


How you may ask?


If Tinubu had used the money saved from fuel subsidy removal to build up our foreign reserve, Naira would have gained value and stayed at $1 = NGN680 at most, and with this exchange rate, petrol pump price per liter in Nigeria will be around NGN750 to NGN800 at most.


With this, inflation would have remained low in Nigeria and Nigeria's economy wouldn't have been this damaged.




He can still make a u-turn, if you are close to him, share this idea with him.


I am sharing this information because of my love for God and because of the poor Nigerian masses

You poor soul…. The entirety of your write up is wrong. Nigeria was borrowing to pay subsidy.

DomPerignon:
What I expect the FG to do is to cut spending by reducing the civil service which has now become more of a welfare scheme than a driver of govt policies.

By cutting down, I mean elimination of most executive positions in the civil service.

Too many agencies around that do practically nothing of value and they have too many executives on their board of directors

A situation were the people now pay to maintain a bureaucracy that was meant to serve them is not acceptable.

There needs to also be total scrapping of some govt MDAs. Some do next to nothing and are net negative drain on resources. What exactly does the National Mathematics Centre do?
Another example is FIIRO that is meant to provide engineering solutions but so far is only in the news for the wrong reasons that latest being an appointed director being exposed for parading a fake doctoral degree and this is supposed to be the leading centre for engineering solutions. Universities must all be fully autonomous and should cater for only those who are interested in learning and betting themselves. The scenario where our universities are now killing fields and filled to the brim with gangsters, fraudsters and prostitutes should never be allowed to continue . Only in Nigeria will you hear of thugs murdering students on campus grounds Govt can use the money saved in managing those unrated universities for scholarship grants. States can offer free bursary to their indigenes but the FG must cut that shit now as it isn't in any way helping as the highest rated school in Nigeria (OAU) is not even in the top global 1,000 universities.

The focus should be on decentralisation and more states bearing the burden of governance. The FG should limit itself to diplomatic activities, securing our territorial and maritime borders and commissioning of infrastructure that will boost connectivity between states.

The problem lies with the 1999 constitution which is a remake of Ironsi's Zik handed down Unification and centralisation decrees.

OAU is not the highest rated school in Nigeria
The highest rated school is U.I and it has featured in best 1000 several times,infact it was best 500 at a time.Convenant University and Unilag also feature in best 1000 at some point

https://ui.edu.ng/gallery/we-need-celebrate-ui-its-latest-ranking-prof-bogoro-executive-secretary-tetfund

Dogalmighty17:
OP, I am by no means a Tinubu supporter but I am very objective in my analysis. Tinubu did the right thing to remove subsidies on petrol. He however lacks the power to decide how to use those freed funds. The constitution doesn't give him that power. By the law that set up the RMFAC, every naira that hits the federation account must be shared according to set down percentages. Tinubu is powerless to stop that.

GOD BLESS YOU.
I LOVE YOU!


Nigerians are too Ignorant and politicians are really taking advantages of it.
Some educated ones like you are deliberately misinforming people for political gains.God bless you for remaining to be objective

I pray your intelligence and education bring you fame,wealth and rest of mind

franchasng:
Today I am in a very good mood after listening to God's words as preached by my great Pastor who happens to be a wonderful Yoruba man.


For those that don't usually attend Church on Sundays and on special weekly activities, please try and be attending because the word of God is life, it rekindles your spirit and awakens the giant in you and propels you to greatness if you back it up with actions and faith.


Now back to the topic; how Tinubu should have handled the fuel subsidy removal for a better Nigeria.



Being a diehard Obidient and an Apostle of God-sent leader to rescue Nigeria from leadership quagmire, Mr Peter Obi, I want to give out just a single tip out of the many of how Tinubu should have handled the removal of fuel subsidy and Nigeria wouldn't have been in a disaster it is in today as a nation.


Before I reveal this tip, sometimes I wonder if Tinubu does not have smart thinking economic experts that should have guided him or was it that Tinubu refused to listen to good counsels just to feel like Jagaban that his followers call him that always mislead him by making his head swell.



Removing fuel subsidy at one go wasn't so smart but removing the whole fuel subsidy at once and taking the money saved from the removal of fuel subsidy to share with state Governors was a very terrible mistake from Tinubu. I suspect he did it to win state Governors to his side ahead of a second tenure contest.


If this method was wrong, how then should Tinubu have done it?


Tinubu should have removed the subsidy and then take out 30% and share with the crooked state Governors and used the remaining 70% to remit into our foreign reserve which would have helped Nigerian Naira currency to gain value agains the dollar and other foreign currencies, with this, inflation would have stayed low and petrol price per liter would have remained around 750 Naira per liter.


How you may ask?


If Tinubu had used the money saved from fuel subsidy removal to build up our foreign reserve, Naira would have gained value and stayed at $1 = NGN680 at most, and with this exchange rate, petrol pump price per liter in Nigeria will be around NGN750 to NGN800 at most.


With this, inflation would have remained low in Nigeria and Nigeria's economy wouldn't have been this damaged.




He can still make a u-turn, if you are close to him, share this idea with him.


I am sharing this information because of my love for God and because of the poor Nigerian masses

Have you forgotten that petrol price was around #700 before Trump's stupid war with Iran?

OkonkwoOkoro:
Sir, you are very smart but…. some of your points are wrong. Nigeria was borrowing to pay subsidy.

...and now Tinubu is borrowing more than four times of what previous Presidents borrowed and still paid subsidy even after he claimed to have removed fuel subsidy they claimed was the reason for Nigeria's heavy borrowing

franchasng:
...and now Tinubu is borrowing more than four times of what previous Presidents borrowed and still paid subsidy even after he claimed to have removed fuel subsidy they claimed was the reason for Nigeria's heavy borrowing

You lack comprehension above your pay package.

franchasng:
Today I am in a very good mood after listening to God's words as preached by my great Pastor who happens to be a wonderful Yoruba man.


For those that don't usually attend Church on Sundays and on special weekly activities, please try and be attending because the word of God is life, it rekindles your spirit and awakens the giant in you and propels you to greatness if you back it up with actions and faith.


Now back to the topic; how Tinubu should have handled the fuel subsidy removal for a better Nigeria.



Being a diehard Obidient and an Apostle of God-sent leader to rescue Nigeria from leadership quagmire, Mr Peter Obi, I want to give out just a single tip out of the many of how Tinubu should have handled the removal of fuel subsidy and Nigeria wouldn't have been in a disaster it is in today as a nation.


Before I reveal this tip, sometimes I wonder if Tinubu does not have smart thinking economic experts that should have guided him or was it that Tinubu refused to listen to good counsels just to feel like Jagaban that his followers call him that always mislead him by making his head swell.



Removing fuel subsidy at one go wasn't so smart but removing the whole fuel subsidy at once and taking the money saved from the removal of fuel subsidy to share with state Governors was a very terrible mistake from Tinubu. I suspect he did it to win state Governors to his side ahead of a second tenure contest.


If this method was wrong, how then should Tinubu have done it?


Tinubu should have removed the subsidy and then take out 30% and share with the crooked state Governors and used the remaining 70% to remit into our foreign reserve which would have helped Nigerian Naira currency to gain value agains the dollar and other foreign currencies, with this, inflation would have stayed low and petrol price per liter would have remained around 750 Naira per liter.


How you may ask?


If Tinubu had used the money saved from fuel subsidy removal to build up our foreign reserve, Naira would have gained value and stayed at $1 = NGN680 at most, and with this exchange rate, petrol pump price per liter in Nigeria will be around NGN750 to NGN800 at most.


With this, inflation would have remained low in Nigeria and Nigeria's economy wouldn't have been this damaged.




He can still make a u-turn, if you are close to him, share this idea with him.


I am sharing this information because of my love for God and because of the poor Nigerian masses

How do you remove subsidiary and add to reserve?

Explain step by step

Basic123:
OAU is not the highest rated school in Nigeria
The highest rated school is U.I and it has featured in best 1000 several times,infact it was best 500 at a time.Convenant University and Unilag also feature in best 1000 at some point

https://ui.edu.ng/gallery/we-need-celebrate-ui-its-latest-ranking-prof-bogoro-executive-secretary-tetfund

Ok.

I was thinking it was OAU and used their latest ranking.

Thanks for the clarification.

sweerychick:
I sef which biased AI? Counter one thing the post said which is not true

How much?