₦airaland Forum

Mynd44:
I don't understand why we are about Lagos here the topic is on Anambra. When one for Lagos comes up, we will debate it.

You have been running away from important questions ever since you opened the topic , why is that?

The DMO began publishing the domestic debt stock of states in the form now being cited from December 2011. Anambra’s domestic debt stood at N6.4 billion in December 2011 and rose to N14.3 billion in December 2012. But the DMO’s revised 2013 figure put the state’s domestic debt at N3.026 billion as of December that year.

The 2013 figure placed Anambra 33rd among the 36 states and the FCT, meaning only Katsina, Kebbi, Yobe and Jigawa had lower domestic debt stocks. Thus, while Anambra’s external debt stock increased during the period, its reported domestic debt stock was substantially lower by the end of 2013 than it had been a year earlier.

As you can see the domestic debt reduced under his administration. If he said he didn't take any loan, that might be true because the external debt involves the loans taken by the federal government on behalf of the state.

It could be the loans taken by the federal government.

I now see that the problem of Soludo and his family is lack of understanding, they simply understand things like a child......

Tareq1105:
I thought he said he would stop campaigning if Anambra state government proves him wrong. This is what you get when you claim Sainthood.

Now, Anambra state government has burst your bubble, they have fact checked you and we've found out that you lied that you didn't take any loan. In fact, you took loans.

You left debts and that's why former Gov Obiano was against you all through. You can see that even your friend Rufai Oseni wasn't happy with you in your interview with him days ago.

Obi, be yourself. Stop the pretence. That's what I don't like about you. Don't lie, don't pretend, don't try to impress. All this donations, boreholes, emphaty, emotional blackmail, are all sakamaje. They're vote buying. We know all these.

I can hear your wailing all the way from Texas....

The next president of Nigeria Ride on 001, wailers should die of heart attack .......

ElevationD:
Soludo promised to turn Anambra state to Dubai. Four years on and the state has not reached the level of Cotonou.

The man left his calling to embarrass himself in politics.

That's unfortunate

omenka:
Didn't bother to read whatever garbage you must have dumped here. I hope you at least get a couple of flies to perch on it.

Bye.

Lol I'm not surprised, you are blank and empty too, why won't you support empty people.

I blame the empty people that are paying you crumbs to support their emptiness.

omenka:
The problem with the Mob is they don't know when to apply the brakes, and other times they don't even know where the brake pedal is. So they keep driving until they run themselves headlong into a canyon.

Pathetic. A typo which even they themselves can tell it was is what they've decided to latch onto. Having an Obidient brain is equivalent to suffering from one of those biblical plagues that was brought upon the Egyptians.

So a so called professor doesn't proof read his supposed government document before publishing, that's shameful then.

It's a shame on Anambra for having an olodo professor as a governor. Monday okpebholo can do better.

Why is Tinubu supporters threatening everyone.
If it's not cutting people hands, it's killing them,

Lol, I'm glad they are reading the handwriting on the wall, it's not business as usual.

To all those people wey dey always shout say obidients are toxic, mk una come see Tinubu supporters naa......

Tinubu will get votes because he is going to buy it but he will still lose....

The votes he is going to buy won't be enough for him to win after an abysmal performance

Lol
And who's Kenneth Okonkwo to decide who will vote Obi?

It's either he's lieing or he's delusional. Kwankwaso go show them who get Kano.....

Una no go talk the bad things that appeared abi.

5 bad things disappear and 20 bad things appear, who dey deceive who?

This is actually true, the 40k sef dem comot like 9k as tax bringing it to 31k.

I don't know why the labour unions are silent.

Gboss247:
Let's discuss a little monetary economics.
Inflation is excess money in circulation causing the prices of goods and services in raise. This journey begins when the federal print money out of thin air and inject into circulation in the name of salary/minimum wage increment. To sustain this, the government then increases taxes to generate to pay it which is so boost for inflation.
Our modern day economic system operates on fractional reserve banking where financial institutions likes banks keep a small percentage of your deposit as reserve and the bigger percentage is given as loans. This is process is called money creation as the loan is new money, hence the money supply has increased. The loan now deposit goes the same process over and over again increasing the money supply. This results in high prices, higher exchange rate and naira devaluation.
The concept of increasing minimum wages and salaries to beat inflation is one of the biggest successful lies ever told because increasing the minimum wage inject more money into circulation causing it to loose value. The ₦180,000 minimum wage you are demanding for is a good example because it will look like ₦30,000 in 2015.
Finally, petrol is a finished product of crude oil and oil prices are determined by the minimum of any country. The best thing any government can do about it to subsidize it and implement economic policies that will cause local currency to appreciate against dollar.

Lol you just went to do mindless lifting to post here and sound intelligent but I assure you that you don't know what you are talking about.

If you go back in time to when Naira had more value than the dollar, you will discover that Nigeria was so rich that they don't need to borrow to pay salaries at that time. So where did you get that information that Nigeria printing money out of thin air to pay salary was what caused inflation.

Naira started loosing value during the administration of Babangida and it was because he was listening to the people that were lending him money at that time to devalue the currency. It was never on record that the naira depreciated during this time because Babangida was printing money to pay salary.

Other successive administrations followed the same advice, devalue the currency, remove subsidies, increase tarrifs so you can be able to pay off your loans. This cocktail of policies led to the naira crashing and the populace needing more quantity of the money to purchase goods causing the minimum wage to start playing catch up. Uncontrollable Inflation was born.

If it was only printing money to pay salaries that causes inflation then it would've been better but floating the dollar alone and subsidy removal caused more inflation than you can ever imagine

Like I said the #180,000 minimum wage I proposed is not even enough to catch up with the inflation that already occurred not to talk of causing more of it.

Goodluck's #18,000 minimum wage was worth $120
Buhari's #30,000 minimum wage was worth $75
Tinubu's #70,000 minimum wage is worth $50

Can't you see that the minimum wage is becoming more valueless each time it's increased.

$120 today is worth #170,000.

Do you think the government will increase minimum wage if it is the root cause of inflation, the answer is no. They only increase minimum wage when they see that their policies has eroded the purchasing power of the people; and they don't even increase it to what is sustainable.

I'm not even advocating for more or less minimum wage, I'm just advocating for sustainable wages. If the government can bring down inflation to the point where #10,000 naira minimum wage is sustainable, then by all means they should pay the #10,000 instead of #70 000 which is unsustainable.

Gboss247:
The law of money states that the volume of money is inversely proportional to the purchasing power of money
This translates to more money, lesser purchasing power and high prices and vice versa.
Based on your calculation, Americans earns $4,050 minimum in there currency (USD) lives a better than Nigerians who earns more volume of money in there own currency (₦70,000).
Increasing the minimum in naira is one sure way to further devalue the naira, make Nigerians more poorer and the prices of goods and services more expensive.

That is fallacy, the over 400% inflation that we have experienced in the past 5 years was not caused by minimum wage increment but by poor government policies. Infact minimum wages are increased in Nigeria only when the inflation has become too bad.

In the past three years, prices of goods and services has increased by 300% yet government is increasing minimum wage by 100%. That's a sure way to keep people in abject poverty.

Now why would someone earning #70,000 monthly be buying petrol the same price as someone that earns #5,000,000.

I'm not saying Nigerian government should start paying #,5,000,000 minimum wage but going by the inflation rate we've suffered, it shouldn't be anything less than #180,000

Gboss247:
Minimum wage is 500,000 in what currency in the US?

5 million naira not 5 hundred thousand.

Minimum wage = 15 dollars × 1400 =#21,000

Working hours = 9hours × 30 days = 270 hours

#21,000 × 270 hours = #5,670,000

nairalanda1:
Even then, it still does not change the fact that businesses need to make a profit.

What you are suggesting would worsen our debt. Am sure you would love it.

So if you are a business man, you will be selling things at exorbitant prices where Almajiri people live because you want to make profit.

You are doomed to fail in that business. Where will they get the money to pay for your goods,

nairalanda1:
usa..Industrial diversifed economy that produces goods and services for the world market, and also is a leader in many fields of production. Government is accountable because the people make it so. Also sends tax defaulters to jail.

Nigeria: Relies on oil revenue alone, and said revenue cannot even sustain a nation of 30 million people. Has to borrow and borrow to make ends meet, and then the corrupt politicans fly in to take their share...result, disaster.Has not sent tax defaulters to jail in...centuries. Also, government lacks accountability.

And who told you America doesn't borrow, but that's not even the bone of contention here.

Can't you see that the gap is too much, with the amount Nigerian government pays as minimum wage, Nigerians are not supposed to pay more than 200 naira for fuel because we have crude.

An American on minimum wage can buy 2500 litres of fuel but a Nigerian on minimum wage can only buy 53 litres can't you see that it's a big discrepancy. Even if the fuel is #200, he can only buy 350 litres.

Thank God you said Nigerian government lacks accountability, so how do we expect them to utilise the increased tax properly.

All these things you are advocating for is not the solution to our problem and you know. Hiking fuel price and taxing people to death can never solve our problems.

Like you rightly said America is highly industrialised and that's what Nigeria need right now so that people can actually have high purchasing power and pay for things effortlessly and not hiking price for poor people.

nairalanda1:
This one seems to think that companies do not need to increase their production costs, that his candidate has a magic money tree that can pay for the increased costs of refining fuel.

When NIgerians want to avoid facing economic reality, they go to mockery mode.

Government's job is not to make things cheap, it is to make the economy suitable for investments to thrive. Yes, that is why GEJ was right in 2012, and tinubu was wrong in 2012, and on taking over in 2023, he tinubu found out the hard way how GEJ was right back then.

But this guy wants government to pay subsidy costs from a budget that is based on borrowing for the most part, so that government borrows more to pay his subsidy, and the debt gets worse and worse

And after he and his descendants would be paying off the debt at a higher rate than we expect now forever

But hey' cheap fuel.

(I am annoyed with him because he is far more intelligent than this).

Oya explain to me why minimum wage is #5,000,000 in the US while in Nigeria it's #70,000 but Americans buy fuel #2000 and we are buying it #1300 in Nigeria....

I'm listening....

No it's not it's even in the bible that all sins are not the same.

It the rise of false preachers that made it seem like all sins are the same.

I have a similar topic here previously
https://uc.xyz/2eE8qc?pub=link

Lol
It was Obiano that built that play ground, it was never there when Obi was governor,

At least if you wan do propaganda, do your home work.

Make una take am easy dey lie naa, Road wey Chinese dey build to collect back their money through toll gates.

There are more than 4 tollgates between Akwanga and Markurdi and it's Nigerians paying for the roads

Tinubu is busy borrowing and looting while poor Nigerians pay for the roads.

Mk una expect more toll gates as more roads get completed.

It's yeye men that kneel to beg women to marry them.

Like how weak can you be to kneel for a woman, someone that you will still spend a lot of money to marry, what a shame.

The only man that should kneel is a man that a woman is sponsoring to marry her.

smallsmall:
It is more than hatred.
It is a bunch of lazy drunkards wanting to reap where they have not sowed.
They simply want to usurp the thriving Business of Foreigners, whether Legal or Illegal.
Business that they dont have the sense and capacity to run and will liquidate within a few Weeks.

Most good things and Business in South Africa are owned by the White South Africans, their black counterparts are into crime, Drugs and very lazy

Exactly the point. I hate the fact that they are now trying to claim that they are only chasing illegal migrants away which is false.

Let it be on record that they are chasing away both legal and illegal migrants for posterity.

MTNnews:
The South African govt does not owe you anything.. the South African citizen made it clear they do not want illegal migrant in their country, it is not the SA government that chased illegal migrant.

A govt can not disobey it citizen else it be ousted.

It's funny you are saying illegal migrants. It's like you haven't been watching the videos the south African vagabonds are making telling people with legal documents that they don't care about the documents. That they should go back to their country and establish the business.

It's not about illegal migrants man, it's pure hatred.

nairalanda1:
Meanwhile the actual cost needed to fix power supply would be 5 billion dollars yearly if we want the sector fixed in 20 years, 10 billion dollars yearly if we need it to be fixed in 10 years.

201 billion dollars in one month, or 1.2 trillion naira for a year...or less than one billion dollars a year in revenue with 20% of consumers stealing power, and most of those who pay underpay because tinubu is forcing price controls on the sector....is not going to fix power supply

You can all abuse me now.

Oga sharap! You are beginning to sound like a broken record

They should l3ave xenophobia and work. They must return home from that world cup, no support from Africa.

Lol dem no dey tell person naa, even the people standing on mandate are now sitting.

Na only Tinubu paid online warriors go vote for am.

DomPerignon:
And his Nostradamus senses didn't guide him not to join ADC before branching to NDC.

The only reason he left LP was because Abure had insisted on primaries to select their next flag bearer and Obi knew he can not win LP primaries due to how he treated LP candidates from outside the SE.

Even the LP gubernatorial candidate was thrown under the bus by Obi who asked Wike openly to leave presidency for him in exchange for Wike getting the governorship.

How do you think Rivers LP felt about that statement?

You are talking thrash, so if you are Abure, you will support any other person in LP other than Peter Obi, Abure knew that Peter Obi was his meal ticket but Tinubu offered him larger amount to destroy the party and he accepted.

Now Obi don leave the party for them and Tinubu abandoned him. Now who's Labour party presidential candidate, I bet you wouldn't know without checking.

This Val is one of the most F***ish politicians I've ever met. He have singlehandedly damaged his political career by jumping around.

Someone that should have been in the senate by now preparing to be the governor but he jumped into APC to lick their asses and they still denied him ticket. Now he's standing nowhere.

favor914:
Where is the audited report of the 2023 LP presidential campaign funds that the Agulu wayo man promised?

What is Tinubu doing with the money he's borrowing and the one he's stealing from the nation's coffers...

favor914:
Where is the audited report of the 2023 presidential campaign funds that the Agulu wayo man promised?

Wetin concern you with the campaign funds of another party you should be more concerned of how Tinubu is spending the public funds and money he is borrowing because he's the one controlling public funds not Peter Obi.

Reason like someone with an iota of sense.