₦airaland Forum

I hold a BSc degree in International Relations and a postgraduate degree in Financial Management. I have a fair understanding of the current happenings in Nigeria, and I believe that anyone comparing Tinubu's administration to previous ones is demonstrating economic illiteracy.

For anyone to say Jonathan or Buhari's administration was better than Tinubu's, or that Abacha or Obasanjo's time was the golden era, is to completely misunderstand how an economy works.

Nigerians suffer from what I call Past-Glorification Syndrome - we judge today with yesterday's price tag while forgetting yesterday's poverty.

Let us be factual.

1. You Cannot Compare Price Without Comparing Income, Population and Structure.

They will tell you bread was 50 naira under Obasanjo and fuel was 75 naira. Yes. But what was minimum wage then? 7,500 naira. What was the average salary of a graduate? How many Nigerians earned 100k in a month? Today minimum wage is 70,000 naira, corps members earn 77k, even a POS attendant makes 40-50k. The numbers have moved because the economy has moved.

When a bag of cement was 200 naira, how many Nigerians built a house? Less than 10% owned a decent home. When Peugeot 504 was 2,000 naira, how many families owned a car? One car in a whole street was celebrated as a rich man. The car was cheap on paper but unaffordable in reality.

Today a bag of cement is 15,000 naira, but look around Lagos, Ogun, Abuja - every month, thousands of new houses are being roofed. Nigerians are building more now than ever. Today a Toyota Corolla is 25 million, but every street has 20 cars, young boys of 24 are buying Benz and Lexus. Why? Because access to income, credit, business and opportunities has expanded, even if the price tag looks high.

Cheap price does not mean prosperity. Abundance at a high price is better than scarcity at a low price.

2. Past Administrations Ate The Future That Tinubu Is Now Paying For.

What Obasanjo, Jonathan and Buhari did was borrow time.

Obasanjo met almost zero external debt after Paris Club,Jonathan met $340bn in foreign reserves and oil at $120 per barrel,Buhari met a system where we were still pretending fuel subsidy was sustainable.What did they do?They printed subsidy. They kept Naira at 200, 400, 750 artificially while CBN was bleeding billions to defend it. They kept fuel at 87, 145, 195 naira while NNPC was owing trillions and not remitting to FAAC.

That was not good economy - that was postponement of doom.If Obasanjo were president today with population at 240 million, oil production at 1.3mbpd instead of 2.5mbpd,debt service taking 98% of revenue as it was in 2023, and no subsidy removal, this country would have collapsed completely. Things would be far worse.

Tinubu came and did what every serious economist said must be done: remove the fake subsidy and unify the exchange rate. It is painful like surgery, but surgery is not wickedness;the disease is wickedness.

3. Population Has Doubled, But Productivity Did Not.

In 1999 when Obasanjo came, Nigeria was 110 million people. Today we are over 230 million. Same land, same epileptic power grid, same ports, but double the mouths. In Abacha's time,we were 105 million, many in villages farming. Now over 60% are in cities, all wanting fuel, housing, import, dollar.

You cannot feed 230 million people with the economic formula of 110 million people. The past administrations never prepared for this explosion. They never built refineries, they killed textile mills, they destroyed Ajaokuta. Now one administration is expected to fix in 4 years what was destroyed in 30 years?

4. Why Nigerians Live In The Past.

It is psychological. When things are hard now, the past always looks easy because you have forgotten the pain of that past. During Abacha, people queued for fuel for 3 days, phone call was for the rich - NITEL landline was 80k. People died because you could not make a call. But today because life was managed then, people say "Abacha was better."

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I hold a BSc degree in International Relations and a postgraduate degree in Financial Management. I have a fair understanding of the current happenings in Nigeria, and I believe that anyone comparing Tinubu's administration to previous ones is demonstrating economic illiteracy.

For anyone to say Jonathan or Buhari's administration was better than Tinubu's, or that Abacha or Obasanjo's time was the golden era, is to completely misunderstand how an economy works.

Nigerians suffer from what I call Past-Glorification Syndrome - we judge today with yesterday's price tag while forgetting yesterday's poverty.

Let us be factual.

1. You Cannot Compare Price Without Comparing Income, Population and Structure.

They will tell you bread was 50 naira under Obasanjo and fuel was 75 naira. Yes. But what was minimum wage then? 7,500 naira. What was the average salary of a graduate? How many Nigerians earned 100k in a month? Today minimum wage is 70,000 naira, corps members earn 77k, even a POS attendant makes 40-50k. The numbers have moved because the economy has moved.

When a bag of cement was 200 naira, how many Nigerians built a house? Less than 10% owned a decent home. When Peugeot 504 was 2,000 naira, how many families owned a car? One car in a whole street was celebrated as a rich man. The car was cheap on paper but unaffordable in reality.

Today a bag of cement is 15,000 naira, but look around Lagos, Ogun, Abuja - every month, thousands of new houses are being roofed. Nigerians are building more now than ever. Today a Toyota Corolla is 25 million, but every street has 20 cars, young boys of 24 are buying Benz and Lexus. Why? Because access to income, credit, business and opportunities has expanded, even if the price tag looks high.

Cheap price does not mean prosperity. Abundance at a high price is better than scarcity at a low price.

2. Past Administrations Ate The Future That Tinubu Is Now Paying For.

What Obasanjo, Jonathan and Buhari did was borrow time.

Obasanjo met almost zero external debt after Paris Club,Jonathan met $340bn in foreign reserves and oil at $120 per barrel,Buhari met a system where we were still pretending fuel subsidy was sustainable.What did they do?They printed subsidy. They kept Naira at 200, 400, 750 artificially while CBN was bleeding billions to defend it. They kept fuel at 87, 145, 195 naira while NNPC was owing trillions and not remitting to FAAC.

That was not good economy - that was postponement of doom.If Obasanjo were president today with population at 240 million, oil production at 1.3mbpd instead of 2.5mbpd,debt service taking 98% of revenue as it was in 2023, and no subsidy removal, this country would have collapsed completely. Things would be far worse.

Tinubu came and did what every serious economist said must be done: remove the fake subsidy and unify the exchange rate. It is painful like surgery, but surgery is not wickedness;the disease is wickedness.

3. Population Has Doubled, But Productivity Did Not.

In 1999 when Obasanjo came, Nigeria was 110 million people. Today we are over 230 million. Same land, same epileptic power grid, same ports, but double the mouths. In Abacha's time,we were 105 million, many in villages farming. Now over 60% are in cities, all wanting fuel, housing, import, dollar.

You cannot feed 230 million people with the economic formula of 110 million people. The past administrations never prepared for this explosion. They never built refineries, they killed textile mills, they destroyed Ajaokuta. Now one administration is expected to fix in 4 years what was destroyed in 30 years?

4. Why Nigerians Live In The Past.

It is psychological. When things are hard now, the past always looks easy because you have forgotten the pain of that past. During Abacha, people queued for fuel for 3 days, phone call was for the rich - NITEL landline was 80k. People died because you could not make a call. But today because life was managed then, people say "Abacha was better."

Copied.

This Tinubu led administration is really touching all the geopolitical zones... He should monitors the project via the community where the pipes are passing... Sometimes, this contractors are the major problems... They should not pay in any foreign currencies but Naira.

Congratulations to the people of the southeast and Nigerians.

Russia is really making more money from the war equipments. From middle east, now the Africans. When will the African countries start manufacturing their own and sell it to the developed countries too?

Smiling 😊😊😊😊😊

How I wish he will educate his followers very well? Vice versa for other parties too. Who is ready to die for people that can't recognise you or appreciate your efforts...

Why are the remaining 11 state delayed signing the bill? What are they afraid of?

The lawmakers should do the needful and get things done properly. They should talk about the good welfares and the postulated laws should be adhered to.

So when you wanted to enjoy the sex with the girl. Your heart didn't race. You are happy inside that you wanted to show your strength abi! Despite that you know that protection is cheap. You decided to go for raw sex willingly.

Oga go and do HIV/AIDS test to confirm your status...

Don't turn Nairaland to your search engine...

Remember to do hepatitis B and C test too...

These are the same young African the Russian authorities may used against their countries...

The African leaders need to think deep and developed their countries without making publicity of it.

All these foreign countries have their spies in the countries gathering informations useful to them.

commoditiesnig:
Iyabo too resemble her Dad.. carbon copy!



Lol.. who bi PO?!… he no get level bro!

Lightweight that is hyped with tribal and religious bias.

2027 will permanently retire many of this paper politicians

Happy Sunday Bro! I concur with your opinion.

PBAT is a strategic thinker! His think tank entourage are really doing good job. His campaign in Kaduna amazed me. I wasn't expecting any crowds at all. I was only expecting party agents alone.

stuffs2002:
Obi is a petty and unintelligent sore loser

This is my own opinion - does he really knows the problems of Nigeria as a Nation. The problems are deeply complicated. Can he mediates very well between the foreign Allies who don't want Nigeria development at all? Does he knows that shell company is owned by the Britain and Britain produces oil too? They should making comparison of other countries policies with the Nation. Can he fights the menace of monopoly in the major manufacturing companies across the Nation? His analysis of power sector baffles me as then when he campaigns in 2023 using Egypt as yardsticks. It shows he doesn't even understood the problem of Anambra State as then. I don't think he really have templates to work with. His present VP aspirant will be the one to use his own prepared templates. Let watch and see the outcome.

shadyLP:
So if person steal your mandate for your front korokoro you go congratulate am
Well, u fit congratulate am sha because of the chameleon blood in you

The same chameleon blood in you na! What mandate was stolen? Some Nigerians only wanted a change of person all because of their own selfish reasons. Those that wanted development, economy reform and other incentives programs for growth voted who they chose. Me and you just dey play on this platform ni. Leave this people for their own selfish interests. Collect your PVC go vote your conscience come 2027 #gbam. Oops! Happy Sunday

Kudos to the people of Yanegoa for allowing the space to be used just for 5minutes to pray.

Apologies for those who may feel offended.

This is peace and harmony...

May God bless their union.
Congratulations to the couple.

It is time for this Governors to stand firm and give the security forces order to shoot aside whenever this dangerous elements are arrested and come cross.

They are pampering the bandits and terrorists. While they are signing the death warrant for other crime vices.

Sonofgod1990:
Keep on twisting your self. I'm very sure you no get up to 3k for your account

#Gbam... Are you a soothsayer? Please where can I get money 🤑🤑🤑🤑🤑.

Happy Sunday and New Week to you

Please what do you mean by little girl! What are your specified age group? Every ladies or women are entitled to their own opinion and consent. If you asked them out they rejected you please look elsewhere...

To sincere - I had never experienced it before. May be I do create friendships before I state my minds after.

Why are the followers of opposition parties are doing the damage for the parties? They should allowed the parties to take responsibility of all this propaganda. You are doing all this and they don't recognise you. You are demarketing yourself, your skills and intellectuality. After, the whole election exercises - they will never patronise you. The people they paid huge amount of money will only come across your messages and present it to their principal as if it was generated from them.

When the ruling parties now sue you for defamation of character assassination and emotional blackmail. You will be feeling the mental stress and financial crisis alone. The people you are doing this for may just look away.

Come to think about it...

PO never congratulate PBAT on his winning of the 2023 presidential election...

I hope he will congratulate PBAT this time comes 2027 presidential election?

Politics are matter of games and number...

We mankind always want to coin something for our own selfish interests...
However, it is another means to give room to the acclaimed baddie that they are welcome with their look to worship too...

Every mankind have their respective human rights to any religion of their choices. However, the rule of law of the land must be adhered to.

How I wish AA would tried to investigate who collected the alleged money and where it was deposited? The names are very important.

I hope Man u will score a goal too? 😀😀😀😀😀😀. Na who do dem like dis.

Chai fouls chopping their intestines...

What the two the parties Manifesto self?
What are the Major plans they have for Nigerians?

She really summoned courage to speak out now after long period of time. She had calculated her safety before spilling the beans on the subsidy matter.

The Foreign Allies and their cohort really don't want Nigeria to be. They always come up with different strategies and control any administration using same Nigerians against themselves.

I am imagining the propaganda other parties presidential aspirants may want to use in campaigning against the incumbent. They short of ideas and manipulations?

God bless PBAT and his cabinets
God bless Nigeria...

Any law enforcement should be properly paid. The least rank should be going home with minimum of 700k. It will reduced compromised, conspiracy and improved standards of living.

What is all this envisaging and malicious alarms for? Always present your evidence whenever you are alleging organisations or individual.

If they sue you on what you can't proof. You will signing another music.

Talk is very very cheap...
Is he the medical doctor to President Tinubu?
Work is the office is more important than the campaign...

He has given them huge assignments... Speculations will be the songs in their mouths.

Good Thinking, Creative, Innovative and Good Incentives instead of allowing the buses to spoil more under the rain and sun.

But No I will not.

You need to consider security first, availability of source of electricity. Remember, space matters here.

You can as well get make use of 20/40feet containers to build such Innovation on a piece of land well fenced and gated. You will lad the whole containers, windows and doors are not left out. Rooms, kitchen and toilets. Solar panels may be used as roofs on the containers. Holla your guests, or short lets are set.

What was your aims and objectives before relocating to UK for study? Do you have other plans besides studying? What vocation skills do you possesses rather built yourself on?

Do you do any research before attempting the move? What are the results of your researches? Do you do analysis on it? Do you evaluate them and decides on what may be best for you? Do you planned for long or short stay over there ahead? Do you really planned on how to manage your time while studying and working too?

If you don't know. The minimum wages for an hour job in UK is £12 and above. That is roughly #21k. If you work for 6hours it is equivalent to #120k per day. For a week is roughly #840k and above. In months it is roughly #3.360M. You then pay your bills, foods & Clothing and rent from it. You knew what my be left for you.

If you know that you have communicated with your parents and families in Nigeria, and they are ready to support you pending the time you stand upright. You may chose to return to Nigeria. No place a like HOME.

Why are some elites, their foreign allies and cohort, some ethnic and religious leaders in this Nation don't want Nigeria to be great than 1st world countries? What are they afraid of? Even if the evildoers don't want growth and development for the Nation.

Can't they themselves for once judge their own conscience of being deceitful and ungodly to the Land and people of the Nation.

This is good initiative program.

May God touches his heart more and gives him the wisdom to continue this program for the people of Ogun State and Nigeria times in a year.

This is the benefits for the people he is serving since he didn't give them good health care centres during his tenure as a governor.

Was she certified dead by any doctor before they planned to bury her?

I hope some dudes in Africa especially some Nigerians will believed now that Tupac was actually murdered.