₦airaland Forum

BoldBrainz:
Shonubi has just removed the rug from under the feet of his employer.

The week Tinubu made the pronouncement of currency liberalisation, he specifically spoke on the unification of exchange rates between the open market and the official FX window. He sounded so cock-screw certain of the terminologies he was reeling out that his minions were applauding with gusto.

Couple of weeks down the line, the disparity in rates between the open market and the FX window is spiralling out of control to the point these clueless people are already dipping hands into the external reserve just to keep up with the FX demands of the market. So, not only are prices of basic necessities blowing through the roof, our reserves have lost over a billion dollars in the space of 2 months.

You cannot seek to put control over the spread or usage of a currency you do not produce, especially in an economy that depends on that very currency. I am not an economist from Chicago University, neither am I in an acting capacity at the CBN, but I have the intelligence to read and study situations and the common sense to acknowledge the truth of a situation.

If the Nigerian economy doesn't crumble in six months, going along this particular trajectory, then I'll know my education was a waste.

Firstly, Nigeria economy can’t crumble in 6 months, it’s too big for that to happen, that’s just emotion talking. Secondly, we have a funny belief, we think there’s a quick fix for Nigeria, it’s shocking we have people as educated as yourself thinking that way. Thirdly, all you have said doesn’t show your education is a waste, it only shows you are not a fan of tinubu and no matter what he does, you’ll never acknowledge him.

It’s very obvious Putin ordered his men to stand down to avoid a civil war that the west could easily take advantage of. I like his wisdom on this particular issue, no be everything be “force force force. This man go soon die by assassination, there’s no way Russia would let him live for long. He made a serious error

This president wants to use special advisers to checkmate ministers. Those are the cabals for next 4 years.

It’s a good policy to float the NAIRA but there’ll still be black market simply because it’s a problem of liquidity, the supply is low and access by ordinary Nigerians is limited. If dollar is readily available and there’s transparency in the market, this policy might work. Get Dangote refinery working asap , that’s the single most important project we need right now.

while I believe it’s necessary for fuel subsidy to be removed, I also think it’s important you understand that the level of productivity in Nigeria is very low and it’ll be difficult for the immediate benefit of subsidy removal to be felt if we don’t find ways to improve transparency in our spendings.
10 billion dollars was spent on fuel subsidy in 2022, and Dangote refinery cost 21 billion dollars right? Why don’t you approach imf or world bank to raise a 10 billion dollar capital project credit for you? This money shouldn’t be paid to the government account, it should be paid directly to the contractors. These financial institutions won’t have a problem raising those funds for you if you can set up a payment plan that’s in keeping with how you handle your subsidy payments, that way you can always raise 10 billion dollar capital projects credit every year which can be used for power plants, military weapons, railways and roads. As long as there are measures put in place to ensure transparency and you don’t let loan funds be in control of any ministry or government agency, things should be fine.

What I said above is long term planning but there must be an immediate response to subsidy removal and I think the best approach is to open the border for rice and wheat,and also declare them custom free. Sir, it’ll take cheap rice and bread to solve the immediate problem of subsidy removal.

Wodu89:
The bigger enemy isn't subsidy , but lack of management and control of subsidy payments because of infalted invoices.

The citizenry looses alot with the removal of subsidy payments because in this clime, salaries do not increase readily, meaning purchasing power becomes more and more difficult with this economic overhaul.

Maintaining the subsidy is to the benefit of the average citizen. It's managing the invoicing system that's the problem. We can have metered and regulated suslbsidy payment in place with FG placing caps on subsidy payment and then hedging the excesses against Government backed bonds, so short term economic traction is cushioned by long-term macrofinances of the court ey.

If invoicing and lack of accountability is the issue with feul subsidy, then why don't we grant licensing that pays subsidy payments based on metered importation allowance?


When would Nigeria let thinking people lead ? When !


The same 2012 problem is repeating itself. Sensationalism. Assuming that the subsidy only implies people stealing,.forgetting or not even considering it's benefits.


The average minimum wage of a worker can't mean anything in a post subsidized feul economy.


Increase in food prices, Housing, transportation, lifestyle all at once without corresponding rise in salary payments is nothing short of a disaster. Be it Peter Obi, Tinubu, Atiku subsidy removal must be planned and strategized before actualized

I agree with you, we don’t have enough transparency in NNPC, CBN, FIRS, and CUSTOM. I don’t even know how it’s possible for any government to succeed without ensuring transparency in those agencies. The problem with continued subsidy is that these marketers find ways to export subsidized petroleum to neighboring countries where they end up selling for 300 naira and above. I think Government should take out subsidy but ensuring that money is well spent as a way to cushion the economic effects of it is the best strategy and it’s coming at a time Dangote refinery is starting operation.
10 BILLION DOLLARS SPENT IN 2022 ON SUBSIDY, but how much exactly does it cost to build half of Dangote refinery capacity

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How come hope is popular. Is he doing well?

basilo102:
Small margins for a higher number of states may add up and become big margin

we’ve seen katsina, we’ve seen
Kano. Wetin remain? His loss in Lagos and Kano are too huge to surmount

basilo102:
Atiku may win this election

Bro, it’s a dream that can’t come through. His winnings in the north are not with huge margins. Tinubu doesn’t need to win in the north, he just need to be a very strong first runner up. Bauchi results are very close

It’s a start but learn the process and make a business out of it.

Let’s take Lagos to the federal level.

First, I need to let people know that an average Nigerian is corrupt by default but some have been able to rehabilitate themselves and even at that, it’s difficult to find “a very good man” in Africa, because the system the colonial masters left us with makes it difficult to produce such people.

These people used 400 years of slavery to move both human and natural resources to their countries, developed their countries with our resources and then started civilization way ahead of us. Imagine people working for you for free, won’t you get so rich? What then happens to your workers after making them work for free in years? of course, life is going to be difficult for them an their generation. They’ll fight for the little resources they see, which would create a very dangerous social construct.

Ask yourself why blacks in America have the worst statistics in terms of education, poverty rate, violence and all. It’s simply because they were products of a system that denied their ancestors the opportunity to take charge of their destiny when others were at it. That’s why a black man has to dream despite being an American or westerner.

So for those saying Peter obi is a good man, he’s not corrupt, he’ll change the country , I want you to remember president Jonathan had no shoes, he was seen as God sent but revelations told us otherwise.

Now back to the main content 😁

It’s not that some of us don’t like the idea of a new Nigeria but you guys need to understand Naija politics.

Peter obi has no structure in the north, he has no strategic alliance and it’s impossible for anyone to win the presidency without having 25% in at least 24 states at the first round.

My preferred candidate was osibanjo but he didn’t win.

Realistically, it’s tinubu vs atiku in this election, but the thought of having another Fulani as president of this country is unthinkable. Tinubu is part of Lagos government, he has technocrat to help in his administration and presidency isn’t one person, it’s a team. So idea of tinubu being president isn’t unthinkable, an average igbo man got made in “lagos” and we need to give credit to those who created an environment where business can thrive. I don’t know if that’s obtainable in anambra though. Is it??

And note this, if we are all sane in this country, we wouldn’t even be talking about any of those 3.
Peter obi was governor of anambra, atiku was vice president, tinubu was a governor.

We should be talking about sowore - a man I personally voted for in 2019 but unfortunately only a few of us were with him.

No one has the moral right to call me out if you are either supporting atiku or Peter obi, only those supporting candidate outside of those 3, fit call me out and of course, if you are well educated, you’ll understand everyone has the right to vote for their own choice without fear of intimidation.

Even if satan contest under Republican Party, he’ll win Texas.

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