₦airaland Forum

Hahaha.... everybody dey withdraw subsidy.

CyberHustle:
Importation has its consequence. Stop importing everything.

The development of a country and its quest to reverse its trade imbalance is the responsibility of government. It is government that blazes that trail by deliberate policies aimed at import substitution.

What this government should have done in the immediate aftermath of its float policy was to calling in industry round a table particularly the heavy forex users to negotiate a reduction in their demand for a period while the government is busy finding ways and means of substitution.

But what did we have, the government gave out more licenses to import (I am certain to favoured individuals) gasoline instead of maintaining the NNPC's (who earn forex and in whom government has equity it can trade with) dominance for a period until local refining kicked in. Where will other importers get the forex without pressurizing the naira.

To me the government is making a lot of mistakes in what it is doing and more importantly in what it is not doing.
Yes, floating the naira is the long term way forward. It is like removing a fence that is frequently scaled and engaging dogs to keep a farm from invaders instead. But you have to keep and tend the dogs to make for an effective security.

You can't just float the naira and go to bed.... rampaging, unmanageable inflation will result. Government should identify bulk forex demands from critical sectors and engage them. When it constitutes its cabinet it should open a desk in each Ministry responsible for massive forex flight to identify and develop local alternatives.

In education it should seek to partner all these foreign universities to establish campuses in Nigeria, same with key hospitals abroad to open units in Nigeria and give them all the special dispensation and incentives found in export traded zones.

All these moves should have been part of the 'hitting the ground running' and not just the Kano state government demolition model of the economy.

That is what I was saying.

This government is just annoying. You remove subsidies, the next thing is to go on an immediate anti-inflationary campaign.
You get ahead of industry and commerce to start fighting the fires before they ignite.

But you just sit there and do nothing while the fires are spreading from transport and banking into other service sectors.
By the time it hits manufacturing, construction other bricks and mortar sectors then it becomes a vicious cycle, a rolling snowball that will bring instability and perpetual devaluation since productivity remains low.

The CBN should have acted fast, the government should have called in and sat with key industry to negotiate a delay in price rises offering them whatever it can by way of incentives to keep prices stable for as long as possible. That is what RESPONSIBLE government does. Incentives are not just meant to attract foreign investment Oga Tinubu, incentives should also be made for the few that produce anything her in Nigeria.

The Telecos want to raise rates which means more cash in their hands to further attack the naira.... o boy.... we are in for it. Government should wake up immediately and start to hedge.

jonsn:
This is a bold move. At least, a cost cutting one.

As much as I see it as a bold move, if not careful, it may turn out to be a 'Penny wise, Pound foolish' move, if the funds realised are not well accounted for, and well protected from going into the pockets of corrupt individuals.

Our major problem is that, in this country, people loot public funds but are not held accountable for their actions.

Because we don't care, because we are not focused on governance. It is just politics and religion and tribe we are experts in. We sit by and think the elite will arrest themselves, try themselves and imprison themselves.

It is the people that are the custodians of institutions not political leaders. We are the watchdogs and are supposed to speak up and speak out when these institutions are abused for whatever reason but the Nigerian is not focused and objective, colouring everything with emotions and sentiment always.

Look Mister, Mr. President will look to consolidate power soon and he will have to negotiate with the very class of people responsible for the state of Nigeria in other to remain in power and possibly extend his stay beyond 2027. This where the problem will start.

I was in discussion with a person who is well versed on what happened in the tail end of the last government concerning gross mismanagement in one of the MDA's. Terrible heists through all manner of schemes. These are the same people that have the biggest chips with which to bargain with any government to remain and continue.

The situation in Nigeria is critical. The country is bleeding badly and some just don''t seem to care.

If you asked the typical Nigerian if he would want a better country in exchange for his states's representative in an over bloated, burdensome, costly cabinet he will readily agree but only if those who are chosen are the best of the best, guaranteed to deliver. But can any President ever chose the best..... no.

ede1:
One important question Nigerians are not asking is thus . After removing these subsidies can the government give us both short-term and long-term plans on what to do with all these funds realized from the removal so we can monitor the judicious use of it?

Or they are just creating more funds to be embezzled.

If you ask me na who I go ask.
You will have thought that all the sacrifice would unite the country around the demand for sincerity and openness in government, citizen advocacy and a quest for good governance.

No, the average Nigerian is still fighting his fellow, thus giving enough room for the philandering class to make away with the family silver.
Have they cut anything, no. Are they sacrificing anything, no. Their lifestyles right now are there for everyone to see showing their intentions going forward.

I say this again.
Nations we admire today did not get good governance without fighting for it.
If we think voting alone is enough to develop Nigeria then I just laugh.
If they removed our subsidies then we must remove theirs.

Adakintroy:
This is just outrage and am an arsenal fan.

105 for a DM. It s just madness. He is no were near partey we paid weh less for. Yes age might be on his side and room for improvement. But common... That'd too much for a player thats still has lot of aspect to over about his game. He is not got a premiership top level experience or even champions league one yet this tag. I would say we go for caicedo instead. This southies play their heart out. English players sometimes get that big contract and just sleep off.

That's is not a size spending in my estimate. Too much DM now. Partey, jorghino., elneny.

Lokomga might come back and now this. Abet let's ho for creativity and attacking option.

No, no. no.... although the price is horribly high, Rice is better than all three.
I think the problem Arsenal has over the years is that they talk too much and then pussy foot when it is time to pull the trigger causing a bidding war all the time. That is how they lost the 'mud' man from Ukraine.

"I want to sign, we want to, we want, we want, we admire, we will bid.... and then they go to bed waking up to price market like second hand boxers...

Ha! 105 ke..... is he worth it.... or is this a 'pump and dump' strategy aimed at punishing City for interfering because City does not need the lad. They have far better players.

danilmo:
So because he voted BAT he should not criticize again? He should sink in all + and -?? No wonder u Zombidence are zombie without critical thinking.

I think the criticism is of the fact from his other posts that he had made up his mind before the elections that other candidates were just not viable with a tinge of deep ethnic bias. So to him it was a one man race.

This is the problem with most of Nigeria. We believe we can win and be crowned with victory and proclaimed a champion with only one person in a race. Who does that.

We fail to realise that democracy the world over is crafted to be one of competition between viable parties and that the more competitive it is the better the outcome for the spectators.

And while other climes enjoy the privilege of 'El-Classico' with the Messi's and Ronaldo's of the political horizon in constant combat, Nigerians tend to desire contests typical of the first round of the EFL featuring their favorite gladiator versus a league 2 team. Yet they expect performance and a spectacle.

Nigerians will not get the best of their life's experiences in their country without the people they dislike being an active part in crafting it. Do we not all wish today we had stronger opposition these past 8 years, at least to create an argument for a 'better' way. We have all seen today that no matter how good a leader is or how well intentioned his government may be, that absolute power is dangerous.

No matter how fancy your car is, you will not attempt to drive it without a brake. So you can be a 'strong supporter' all you like. If you have nothing restraining your thoughts, your actions....

Well, it is the nature of our politics viz our citizenship.... that just cannot relate our disposition and choices with our experiences.
That is why we always talk about restructuring as the panacea to sentiment and the only means by which our politics can transition to one of ideology.

And by restructuring (once again) I mean a project that sits every Nigerian round a table to thrash out common values. Values that will put everyone at ease, secure everyone's fears and unites the country around ideas, for example of what the definition of good governance is.

So that the southern born citizen will see bad southern governance and admit it and the northern bred citizen will see the wrong northern leadership has done and admit it. So that all Nigeria is singing from the same hymn sheet.

Then and only then can we forge ahead in a progressive direction.
Because right now we are like a bunch of horses pulling the chariot of State in all directions and going no where essentially.

So sorry for the man.
It must suck to live in/with such a paradox.

Razgas:
de facto, probably. But not established.
They answered that question in their own website

adverb

1.
in fact, or in effect, whether by right or not:

Spidermon:
I think the Nigerian DSS functionally is more of an equivalent to the US DSS which might explain why they prefer that appellation rather than SSS.

The Nigerian DSS has no semblance to any US organisation for the simple reason that the DSS's mandate is opaque. Policing and the clandestine activities of 'secret services' generally do not mix. A typical secret service generally does not have the mandate to arrest and prosecute. A secret agent generally does not testify in court or appears before a judge. All they do is to gather information and pass it on to the police for action.

So typically in the US, the Secret Service works with the FBI or DHS, the CIA up till 9/11 did not even have a recognised relationship with any other institution.

Razgas:
the U.S has no federal police. FBI is probably more related to the combination of EFCC, ICPC and DSS

The FBI is the defacto Federal Police of the United States however post 9/11 internal security had been restructured to place all resources under a new institution, the DHS.

The FBI's mandate was to bring the book against breakers of any Federal law, apprehend cross border (internal or international) criminals and organisations or handle crimes committed on Federal lands or properties anywhere on continental US or around the world.

PaNnamdi:
With the the rampant and diverse rate insecurity in nigeria, I think it has become necessary for states in Nigeria to operate state police forces solely under the COMMAND of the state governor.

Do you support the establishment of state police in Nigeria? share your views in comments.

This is not a question.
200 million people, 450 distinct cultures, desert to mangrove topographical diversity... and much, much more.
What else can a people ask for than tailor made security that beds on understanding.

But I just shake my head at the bolded and gaze in awe at the capitalised.
Honestly we just do not understand democracy and are not ready to discard feudalism being the undying vestige of colonial rule.
For I just cannot understand how a police department will be under COMMAND of any individual thoughtless of a politician.
Whereas best practices in advanced societies place them as independent as the judiciary they work with to ensure a viable criminal justice system.

At least it has demystified 'Mai Gaskiya' as we projected in 2014 and made an open show of the ride he took his faithful fanatics all these years.

Now, where are the experts at recalling old posts on this forum, to show us who said what back them and did not allow us 'hear word' all those years as to how the Buhari government was better than the one it replaced.

For they have conveniently gravitated to the present government and gave started their usual propaganda full blast pretending that their sense of judgement counts for anything.

Just peddling acrid sentiment.

The problem is not the mosquitos when your surroundings are dirty. The problem is not the feudal lords but the timid peons cheering.

The signals they give is that they are ready and open to more economic strangulation and will gladly accept a wider standard of living between themselves and their idols in power.

Restructure Nigeria or your sufferings will never end.

Like Ogun, like Kano, like Rivers State politics....MMA set pieces all the way from time immemorial.

Na waoh..... with all that jet A1 in its wings.... flying in tropical weather is always full of risks.... water, wind, hail, lightning.... thank goodness for advancing technology and matching aviation skill-sets.

And what was the benefit(s) of those removals to the economy that continued to tank under your principal's watch. This is the koko. It means removal of subsidies is not the 'be all and end all' to economic woes by itself. It is at best only a key to setting a prisoner free, it does not rehabilitate him or offers him a job to earn an honest living.... and you know what it means to have an ex-con roaming the streets jobless and rejected by society....

There are many other things that should be done together with subsidy removals that has not been done. There are also other things that should have been done in the aftermath to catch the reforms when they are 'hot' which are not being done presently and if nothing is done to complement the reforms we may look for the gains of subsidy removals at the end of this government and find none the same way we are searching for the gains of the Buhari era reforms and are not seeing any.

A rising dollar or falling local currency in normal productive economies brings relief to a certain degree because it makes exports more competitive and imports more expensive and thus less competitive. So a moderately rising dollar is something we should not abhor. Rather we should ride the tempestuous waves or headwinds of more expensive imported goods and services and start looking inwards.

Nigerian universities should be doing some thanksgiving for the share of the billion dollar offshore education industry because it costs a lot more to get a foreign education these days and a lot of folks are likely to cut short their studies abroad in the coming years for this reason.

Nigerian hospitals and medical professionals should be doing a jig and licking their lips in expectation of a share of the medical tourism pie.

And even our local religious camps and grounds should find solace when it costs a lot more to go on pilgrimage to the Middle east and Europe.

I cannot see any downsides here.
We either reform or go bust.
And this is where government should step up and act responsibly.
It should look at critical commodities, products and services we patronize out of an abundance of need and ACTIVELY promote their development and production here by either dragging foreigners kicking and screaming to invest here or by cultivating a new series of Dangotes, men and women of enterprise to do the business.

It appears the whole governance thing has run out of legs and cooled considerably if this too is news.

Thought there will be more to the whirlwind of economic changes than just chopping up citizen benefits and changing who pays the bills for our lifestyle.

It appears there's not much else planned.

CyberHustle:
Why should a naira based economy be charging people in dollar equivalent for import?

It is just a tactical move to raise tarrifs. It has nothing to do.with the exchange rate in reality. There is no reason why import duties should be denominated in anything but the naira.

BreconHills:
PBAT and VPS warned that difficult times lay ahead for Nigeria. They told everyone that they would have to make difficult choices. They were very clear unlike two other candidates who kept mumbling at low decibels saying nothing out of fear. In the end the people chose clarity over vagueness. This is why in one week PBAT was able to push through wide ranging and necessary reforms without a murmur. Even the TUC and Labour knew that they had no public support with a strike.

It's going to get even more difficult as the electricity tariffs go up in July. It is either this generations pays for success or their children do. Nigerias debt has come through. I am proud to belong to the generation that pays the price for a new Nigeria in our life time.

Oga you should elevate your thinking please. Yes, subsidies in a poor unproductive economy is suicidal but so is hyperinflation and.the failure of the government to act swiftly on inflation is the first failure.

If you are informed you will understand that there is a fine line between the slow down of the economy and the complete seizure/recession of the economy which will crash revenue.

Already productivity is being affected in many sectors as retail, construction, transportation and and energy are recording serious drops.

I said it before that if the government does not come out and head off inflation it will spread from energy into transport and then into soft retail. By the time it hits durable.goods and fixed assets then the damage to.the economy will become irreversible.

HateBigots:
... You enter overcrowded boat, you no sabi swim and you no wear lifejacket🤦🏽‍♂️... Some people act like they have extra lives like in games.🤡

Sorry for the post life.

Peer pressure and youthful exuberance is a fatal cocktail. In the excitement of not wanting to be left out logic and reason goes up in smoke. We've all been there.

That's a country is so funny. The police calls for 'negotiation for compensation' in a clear case of murder which is a capital offence. When have they become judge, jury and executioners.

The police command should relieve any of it's officers involved in that parley. It is a disgusting, despicable thing to do. Why should our law enforcers always gravitate towards the bigger wallet.

bigtt76:
What was $76million doing in that building in the first place

It is their salary and wages....what else..
If the common man, the long suffering, patriotic men and women of this country cannot join hands to tackle government and pressurize them to do what is right and just to produce the dividends of good governance, forget it. This country CAN NEVER DEVELOP and CAN NEVER BE RID OF MASS SUFFERING.

There should be a war between the rulers and the ruled, between those who swear to lead and those who say Amen. In saner climes government is perpetually distrusted, politicians the world over are universally disliked simply because they lie and just cannot do what is right on their own without serious coercion.

How we carry them on our heads like totem poles and worship them like idols and tin gods in feudal orgy is the reason they rub our noses in the mud.

The simple revelations of all these sordid corrupt incidents time and again is enough fuel for citizens of other climes to REFUSE ANYMORE SACRIFICE especially when the perpetuators WILL NEVER BE BROUGHT TO BOOK OR DO TIME FOR THEIR CRIMES AGAINST THE STATE.

The government of Nigeria should get its a ts together and stop provoking the suffering citizens of this country. It should investigate this couple and do justice promptly.

priceactionx:
You too mumu gan ni o. Something that was said to have heppened during COVID 19, you are saying during BAT regime.
I now believe that you are part of headless mobs. Chai. So sad you no get sense to read and understand, just attack, attack and attack.
@the topic, Everyone just dey loot ,left right and centre during bubu time. They will go and hide money somewhere, and when it is forgotten, they go back to reloot it. No be only scavengers, na scrap collectors. Something that before they will even get to inner safe self, it will be so difficult. Thieves everywhere.

But it was a government he helped instal and boasted about that many times. A government he supported from day one till the end pronouncing it as a bastion of integrity so how can he wash his hands of a government that has proven on hindsight to be no better than the one it replaced on 2015.

So you folks can now see that corruption is not the problem of Nigeria but the structure of this country that cultivates, feeds and protects corruption.

And finally we can see the mind and actions of typical civil servants, the very folks who in cahoots with politicians have run this country into the ground for 60 years.

But whenever sacrifices are demanded of the citizens they cry out the loudest, hold everyone to ransom and are thus the first government listens to and palliates.

They are nothing but round trippers of misery in Nigeria.

He should abeg. The world cannot afford an unstable, collapsing Russia with all its dangerous armaments at stake.

The world should be truly worried and I'm sure the US military will have moved the threat level higher.

It has to counter any rogue threat by any third party to mishandle nuclear weapons. And I am sure if Putin himself desires to go out with a bang, the FSB may as well assassinate him instantly.

Lighthammer:
Watch how misiñfórmed and western asslickers are spewing bike craps..
Well well..I won't be surprised if Wagner suddenly becomes the darling boys of the west...

It might be.
With the situation now and the Hague waiting for him, he might be buying the moral high ground on which to plead leniency, saying he thought it was just a 'special operation' but his boss, Putin changed the mandate and he disagreed, thus....

forerunner022:
This is a hatchet job of the West. They want to try to destabilize Putin from within because they have tried so many strategies outside and none is producing the desired result. Putin will roast his enemies mercilessly.

Meaning what?
That the hired the mercs to do battle for Russia in Ukraine or what.....

Phraences:
Same thing happening in Sudan. There's always problems when you give mercenaries power.

Yeah, Sudan is a poster child for not bringing foreign forces to fight in your country against your countrymen simply because the foreign forces are of the same tribe and the opposition is of another. No sooner than Al-Bashir had these foreign mercenaries come in and put down an internal rebellion did the mercenaries began to demand for power and authority. He gave them the military to head and the rest is history. They eventually overthrew and put him in prison. Just imagine buying a dog that turns around to bite you.

jackcanfield:
It is a dicey situation, but the Russia Army obviously knows Putin's Chef cannot be trusted, hence the limited supply of arms and ammunitions . Putin's Chef is just bragging, he has no strategy other than penting up emotions, I will be damned if he thinks he can get loyalty from his 40000 convicts whose only motive for fighting is to get Amensty from the Russian state.

His troops are better trained than most Russian forces. They got Russia most of the victories and most of the territories seized so far. But this is the problem with hiring mercenaries, particularly if they offer you a service that you simply do not have yourself. Along the line they will grow to become a threat.

This is why the Nigerian government balked at re-hiring the South African mercenaries to conduct the anti-insurgency measures in the north-east this past regime. They can grow to become a threat to the State as we have seen over the decades all over Africa from the Congo to Mozambique and Angola where Putin was once stationed as a KGB agent.

And that is why the West including America limited their activities (civilian military contractors) to non combat duties in Iraq and Afghanistan. They are very corrosive to institutions of government, security and defence, something Russia and Putin are discovering the hard way.