₦airaland Forum

jayworld15:
How stupid you look!

Thanks for calling me names. That's nice.

Buhari makes more money than Jonathan if case you don't know.
If a barrel of petroleum was averagely sold in GEJ time for 75 ( from 2009-2014) and dollar was $160 ( randomly selected), multiple the two gives #12,000 while Buhari's period (from 2015-2018) gives an average price of $53 for a barrel and a dollar is #360, multiple the two gives #19,080. Subtract the two equals to #70,080. Where a litre was sold for #87 in GEJ's time, we are buying it for #145. Subtract the two give #58. Who makes more money?

Well

1.Oil under GEJ was between $94-130 from 2010-14....not $75.
2.Oil started falling when GEJ was in power...from June 2014...to $75 by May 2015 when Bubu took over. It then fell to an all timelow of $30 by Feb 2016...and then slowly went up to $81 now.
3.Reason why fuel was lower under GEJ....value of the naira, plus the fact that we had enough forex to buffer the naira then due to the high oil prices.
4.Landing price of oil was N92 by 2012....and it went up to N132 by 2015...which is why Bubu increased fuel prices. It is now N180 per liter.(We import most of the fuel we use in this country...and that would be the fact if we kept all our refineries in peak working conditions).
5.Anyway, my point is....an economy that relies on the oil price is a bad economy. What we need to do is get off oil.....which is the point of my rebuttal to you. I am not here to praise or disparge GEJ orBubu. The fact is, we are running a monoeconomy, and it is a vulnerable economy.

I am not into PDP or APC.....sorry.


Oil price sources here

dazzlingd:
I've modified my post. These countries have better standard of living. We all know what we happen to us here if we give more of our taxes, a country filled with corrupt officers. You want the poor to enrich the rich? Well I think we deserve terrible leaders because we are where we are as a result of the summation of all the vices of each citizen.
Let the government try to prosecute a corrupt officer, same citizens will fight to death to defend them for sake of tribal and political differences.

Nigerians should enjoy their third World country, they deserve what they get

So we keep the fees low...keep on producing half baked graduates that cannot compete with the graduates from private universites....and from foreign universities.....and at the end of the day....guess who suffers...the poor in the name of free educaiton.

Inasmuch as I personally would charge N20000 as school fees in universites if I were in charge of this country...the truth is, we have no choice.Either we spend half our budget on just universites...and it may not be enough....or we borrow and borrow...or riase taxes.


As for corruption....I have heard Nigerians shout about corruption. But bring facts about corruption in GEJ or Bubu';s admin...and people will insult you. (That's why I have all but given up on politics in Nigeria....).

Kaetoh:
o boy you keep oil way you wan sell? Oil this oil that? What kind of laziness is this ? Also talking about GEJ in a state owned university So you people wish to be spoon fed for all expenditures because Nigeria has oil ? God forbid this useless mentality of yours o.

The 2009 ASUU/FG agreement includied state universites....and just to make sure...ASUU even fought for their inclusion.

Anyway...the honest truth is, you cannot get good educaiton at low fees. Either we pay high fees...or government takes a loan and another loan...or we remove fuel subsidy so that we can pay for 'free educaiton'

And by the way, I was stating facts in answering the original poster.....in ,my opinion.....we need to industrialize so that we can have the cash to spend on anything.

dazzlingd:
Some countries have free tuition and there schools are far better

And they pay HIGH taxes.

Denmark is a good example. They have free education from cradle to grave.....at the cost of half your monthly salary in taxes.

Same for Germany.

Do you want government to take half your salary in taxes...so that you can have free education..?

ajayiopy:
BABA PARK WELL

Do you have any counterpoint to my facts?

Note that I am not excusing the current government. I am pointing out that we use high oil prices to hide a bad economy.

When you don't diversify your economy....thihgs look good when oil is high, and bad when oil falls.

That is the point of my missive. If you don't get it because ofpolitics...and FYI I don't support APC, or PDP.....sorry.

SIMPLYkush:
why will they protest? if they can't pay they should get the fvck out.

You are very uncaring.....and also you are telling the truth.

(Truth is bitter anyway...)

Fact is, since 2013...when GEJ and then labor minister Emeka Wogu told ASUU that the N3 trillion naira promised in 2009 was not possible...anyone with a pair of eyes could see that fee increases were inevitable...very inevitable.

If Govt could not afford to add N3 trillion in annual funding for universites....in 2013 when PDP faithful tell us we were eating milk and honey every hour....can this government, with oil prices that have been lower than what it was in 2013 do the same?

Nigerians have to face the hard fact. Fees HAVE to go up. We don't have a choice. Unless...oil goes to $140 per barrel.

JusticePlanet:
GEJ need to explain to Nigerians how he managed to
pay fuel subsidy and yet sold fuel at N86 per liter.
GEJ need to explain to Nigerians how he managed to
controls our borders and yet a bag of rice was sold
for 8k.
GEJ need to explain to Nigerians how he managed to
build 17 federal universities in 17 states in Nigeria.
GEJ need to explain to Nigerians how he managed to
build almajiri schools in all the Norther Local
governments.
GEJ need to explain to Nigerians how he managed to
hold $1=#165 for 4yrs
GEJ need to Explain to Nigerians how he managed to
push Nigeria's economy to be number 1 in African.
GEJ, we need answers.
- Proffessor Wole Soyinka

Answer is simple....high oil prices above $90 from 2010-14, and allowing forex to flow freely.

The good times came to an end when oil started dropping in June 2014.....by January 2015, oil was at $75.

Also, fuel price under GEJ was at N65 till 2012 when it was N97 then 2015...when it was N87 officially. Unofficially, from 2013 onwards, actual fuel price in most parts of the country was above N110 per liter. And we lost a good deal of forex in the name of subsidy.

Naira was above N200 to the dollar before 2014...

GEJ ran a bad economy....that looked good. But was not. All the more reason why we have to get off oil

(And it does not make Bubu....wasting money on subsideis,not expediting action on diversificaiton, and not doing more for power any better....).

SarkinYarki:
Oil above 100 dollars is gift not the norm , that why it's called a boom , how many times in human history has oil exceeded 100 dollars ? So any govt waiting for oil to exceed 100 dollars before it can work is a joker

The point is, in my answer to your original question, is that we will continue to borrow so long as we don't reach breakeven.

Borrowing is not the issue....the issue is what they do with the money, and also what effort they need to make to get our economy diversifed.

You can criticize the government on other issues...but on the borrowing issue...we will borrow until either we diversify, or oil shoots up. Personally, I prefer we industrialze.

SarkinYarki:
Oil has been over 70 dollars for a while now so why is he still borrowing

Because we need oil at $140 to stop borrowing.

It's called our break even price, and it varies from country to country.

Nigeria needs an oil price of $139 a barrel to balance its budget this
year, Fitch Ratings Ltd said on Thursday.

Fitch, an international rating agency, in an April 5 report, said
Nigeria has the worst situation among 14 major oil exporting nations in the
Middle East, Africa and emerging Europe.

Bloomberg reports that the agency said Kuwait is in the best position
of major oil exporting nations to have a balanced government budget
this year with oil forecast to average $52.50 a barrel.

The report noted that even after cuts in government subsidies and currency devaluations, 11 of them won’t have balanced government budgets this year, including Saudi Arabia.

“Fiscal reforms and exchange rate adjustments are generally supporting
improved fiscal positions compared to 2015, but have not prevented erosion of sovereign creditworthiness,” the rating agency said.

It explained further that only Kuwait, Qatar and the Republic of Congo have estimated break-evens that are below Fitch’s oil price forecast
for this year.

Kuwait at $45 a barrel traditionally has a low break-even because of its high per-capita hydrocarbon production and more recently its “large estimated investment income” from its sovereign wealth fund, Fitch added.

Earlier, Brent crude, a global benchmark, averaged about $55 a barrel for 2017.

The rating agency said it “substantially” raised the fiscal break-even prices for Nigeria, Angola and Gabon from 2015 levels because of
rising government spending.
‎
A breakdown of the Fitch forecast 2017 break-even oil prices per
barrel shows that Nigeria was pegged at $139, Bahrain at $84, Angola
at $82, and Oman at $75.

Others are Saudi Arabia at $74, Russia at $72, Kazakhstan at $71, and
Gabon at $66; as well as Azerbaijan at $66, Iraq at $61, Abu Dhabi,
United Arab Emirates, at $60, Republic of Congo at $52, Qatar at $51 and Kuwait at $45.



https://www.premiumtimesng.com/business/business-news/228167-nigeria-needs-oil-price-139-barrel-balance-budget-report.html

SarkinYarki:
I thought part of reasons people voted Buhari was that he was anti borrowing but it's clear that's also myth like his so called integrity because he has turned out to be a prolific borrower and that is clearly as result of the emptiness he has in his dull brain which cannot think outside the box to create wealth ....Buhari was a huge mistake !!!!

With oil falling when Bubu took over, he had no choice but to borrow.

Thing is, if you want to stop borrowing now, Heather economy industrial

Lol

We can't stop.borrowing until oil goes to 140 dollars per barrel.

What we can do is reduce expenses like subsidies, the big fat salaries National Assembly members make, and end corruption.

Ehiscotch:
Watch how here would be overrun with Buhari critics. But when the reserves was appreciating in consecutive months they said " fake stats" "where are the results" "only on paper" .

These are the kind of indices that determine the course of an economy. It takes a little time for the effects to trickle down but as of now we are still in safe waters (concerning the reserves oh!) .

Yeah, but we still need to save. Oil is still very unstable

Venezuela did not save. See where they are now

OkaNaUbe:
Nigeria leaders are not serious. Instead of investing in power and create enabling environment for industries to thrive, which will in turn create jobs, they prefer to pump our hard earned money to stabilise the Naira.

How long will they continue to deplete our external reserves to support the Naira?

Even the crude oil we export, we don't have direct control on the price in the international market.


CBN's Emefiele said that stabilising the Naira is more important to them than savings.

Good points you make.

I guess it is because a stable currency is good for a good economy

They better be careful.

We can't afford another crash

LordAdam:
SHATAP!

Did this incoming government not lead people to believe that removing subsidy would make fuel cheap? Buhari is on quote for saying he doesn't believe in subsidy. Momoh is on record for saying the APC government will make fuel N40. Or should I go source for the asinine calculations done on social media in 2015?

Even after they came in and increased the rate from N85 to N145, they told Nigerians subsidy was gone for good. They were even giving figures of how they were saving billions monthly. Now, they've realized subsidy is relevant.

Why deceive people and play f**lish politics if you know subsidy cannot be removed. Just so you could enter power then start sitting on an unconstitutional practice where only 3 people know the whereabouts of $3.8b.

Corrupt hypocrite.

-Lord

You think I am defending the government, when I aint.

I merely state the case for the removal of subsidy.

You don't want the subsidy removed...you want PDP in power. Good. I ain't into your PDP or APC things.

I repeat myself....subsidy must go, fuel cannot be at N40 per liter....and you really don';t want subsidy to go. That's all right.

At least, I am honest. I beleive subsidy must go...and Ive told you so.

Back to your PDP vs APC fight...and for your info....I despise corruption. So why call me corrupt when I say we have to remoive thje source?

P.S .....I am annoyed because you rightly critique the subsidy scam, but then go on about higher prices...that is what annoyed me. You cannot have an end to the subsidy scam sans ....and be demanding for low oil prices.

thesolutions:
Exactly. The minister of Petroleum, Buhari and NNPC counterparts are the sole importer of petroleum products to avoid paying subsidy to marketers.

True because when Bubu took power, he inherited debts from the GEJ admin to the tune of billions of naira in unpaid subsidy claims. If GEJ could not afford to pay,....where was Bubu going to get the money to pay atlower oil price...?

(See why GEJ wanted to remove subsidy...even if partially in 2012....the signs were there).

They fixed the price of fuel at 145 naira when the actual cost was less than 40 naira per liter when the crude oil price fell to 38 dollar per barrel. Now the price of crude oil has skyrocketed to 80 dollar per barrel, we will start hearing of subsidy.

1.Can we have sone actual sources of this your information? I know APC lies....but when PDP lies...pot meet kettle.

2.Landing costs of fuel were at N132 by 2015...up from N95 in 2012.Add the fact that we import MOST of the fuel we use in this country...and you can see the problem.(And even if all our refineries got fixed...we would need to STILL IMPORT 30-70MILLION liters of fuel a day.)

3.We have been facing an oil shock since 2014...and our reserves were at a low of $32 bn when Bubu took over..and fell to $28bn by 2016 begining...plus the low oil prices...meant that we did not have the forex to buffer the naira...hence costs went up. Including the cost of impriting fuel...since we now needed more naira to buy one dollar.

4.What Bubu did in 2015...was partial removal of subsidy (It was not remoival of subsidy despite what APC spin docs want to tell you)....and as a result....things calmed down....but the landing costs of fuel increased.....to N180 per liter.

5.So subsidy has to go. We need oil at $140 per barrel to have a balanced budget. Oil is at $80 now. We don't have the resources. And even if Dangote comes on stream...Dangote still has loans to pay..so prices will be high.

Jolar101:
See how these zoo lazy youths and their lazy criminals in power planning on how to use Biafra resources.

This Biafrans rain must reach everyone roofs at the appropriate time.

No referendum There will be No Nigeria.

Hmm...why are you going off point?

If you want a referendum...Ekweremadu has given you a blueprint....follow it.

And by the way, I don't know why you are calling me a lazy youth and an animal. I did not insult you. I made my point and even did not insult any government or tribe. Yet, you chose to insult me.

Please maintain decency here. We are not children here. This is an adult forum. Good evening.

AtikuDeman:
Shut up, Buhari said he doesn't know what subsidy means yet increased fuel price times 2 and still continued subsidy payment. Why was the pump price increased and where's the money going to? Buhari is a hardened criminal, he should not just be returned back to daura but also thrown into jail. Atiku is the man

1.Pump price was increased because the landing cost of fuel had gone up to N132...and based on that, we could no longer afford to subsidze fuel at N87 per liter...hence the price increase.

(GEJ was having problems subsidising fuel when he was in power....that is why he wanted to icnrease fuel to N140 perliter. You will soon see why).

2.Right now the landing cost of fuel is N180 per liter....up from N132 PERliter. We pay a subsidy of N65 per liter to keep fuel prices low.

3.By the way...Dangote plus modular refineries won't save us...the owners have to make back their money...and N145 per liter does not catch it.

4.Back to no2....the fact is, government won't remove fuel subsidy. (And Atiku won't do so either ...nor would PDP)...for the simple reason that if they do so....they would be swept from power as fuel goes up to N200 per liter and beyond. There would be riots on the street.

5.So, government keeps the corrupt subsidy regimen because it is a big price to pay to keep fuel from going too high.

6.Compounding the matter...our oil revenues have fallen drastically...to the point that we have been taking loans to keep our head above water. Plus Bubu had to rebuild our savings from scratch....that is why we don't have enough money to keep fuel as low as N40PER LITER

7.I don't mind you voting for Atiku. But if Atiku does not end subsidies by allowing independent marketers to set prices...meaning allowing fuel to go up to N200 and above...without government intervention.......that proves that Atiku too wants to keep the corruption in place.resubsidy.

8.One more thing....why is there corruption in the subsidy regimen.

BECAUSE...it does not allow marketers of PMS to make profits. As a result theyresort to improting empty vessels and claiming that they have imported fuel. It is the only way they can make a decent profit.

The solution is simple. We have to remove subsides, allow independent marketers set their own prices....meaning NNPC won't have any reason to keep on paying subsidy...and a corruption sauce would end. But you Nigerians want cheap fuel....Atiku or Buhari in charge.

DavidEsq:
Just look at this lifeless comment. @ bolden

Good evening. I hear that in your future you will marry a beautiful princess.

gratiaeo:
That is not what Buhari told Nigeria when he increased fuel price

Yes, it isn't because APC does not want to lose power.

When GEJ increased fuel price from N65 to N140 and then to N97...some people used that as their reason for voting himout.

The truth is, NO NIGERIAN GOVERNMENT WANTS TO REMOVE FUEL SUBSIDY COMPLETELY.

They would do partial removal, hope for things to get better....until the economy makes the new price limit unrelaitic.

Whereas if Bubu was remoiving subsidy completely.....it won't be NNPC controlling prices...it would be the marketers. And since most of the fuel we use in this country is imported (and even if it was not, the way we are going...most refining capacity in this country is going to be private)....prices will go up to N200 and above.

Meaning...what happened in 2012 would be child's play.There would be revolution....and they know it.

I've seen this game played several times since millitary rule...and even during civilian rule.

Better to keep subsidy , with all the attendant corruption in place...and with the way it shortchanges marketers and promotes massive job loss....than deregulation and possible revolution.

But the truth is, if I was head of state...I would deregulate...and watch as foreign investment flows in, and jobs are created...because that means that marketers would be making a profit. Problem is...benefits take time to manifest...and Nigerians aint patient.

Racoon:
Subsidy under-recovery? Unaccounted funds not included in the budget Unimaginable corruption is still ongoing in the NNPC.Nigeria is doomed.Atiku/Obi.

So what do you want Atiku and Obi to do

Remove subsidy? (Which is the right thing to do by the way)

You don't want subsidy gone...and you know it. You may cry about Bubu spending billions on subsidy (like I do) but until I hear Atiku say that he is going to deregulate....I am going to assume that the status quo ante will remain under a PDP government.

You want to end this....then talk to your senator about DEREGULATION.

LordAdam:
modath, Keyamo et al will soon come and tell us that it is not subsidy, it is recovery. After claiming in 2015 that there is nothing like subsidy and cost of fuel should be N40.

That's how only two people (plus Mr Integrity) are sitting on top of 1.4 trillion naira annual expenditure with zero transparency. Money that isn't even inside the N8 trillion budget. If they are not stealing money, why are they covering it?

When Atiku wins, Baru will go on exile. Corrupt hypocrites.

-Lord

I don't know why you Nigerians keep on allwing yourselves to be decieved.

Yes, the government claimed subsidy was removed....except that they were STILL setting the prices.

If subsidy had been removed, the price setting would not have been in the hands of government....it would have been in the hands of the independent marketers.....meaning fuel would have been costing N200 per liter and above by now.

The thing is, the reason why APC is still payign subsidy, and why Atiku will still pay subsidy, and keep on paying it...is because Nigerians don't want high fuel prices. They would rather keep the subsidy corruption monster alive in return for low oil prices.

Some of you people even want Bubu to make it N87 per liter again.

So stop screaming about corruption....because you Nigerians dont want the solution. You want cheap fuel....so keep on paying for cheap fuel.

APC and PDP are just lying to us...and we are buying it because we hate the bitter truth. We need to deregulate...and we should have done so since 1992!

Hmmm

All this problem with subsidy will dissapear if DEREGULATION happens.

With deregulation, there would be no more free money for subsidy. The money can go into other things like education, railways,power etc.

More investment would flow into the Petroleum sector...and we can finally end the corruption monster in the NNPC.

But because Nigerians, including those who cry out about subsidy scam....DONT WANT TO PAY N200 and above per liter for PMS....we have to keep on feeding the corruption monster that is the NNPC subsidy game.

End this subsidy thing now.

Omeokachie:
Shock me president 'Iran Contra' Nixon
Oil shock tied down Buhari from addressing the herdsmen crisis too?
Oh, no it stopped him from making a single arrest because Ghadaffi asked him to blame Libyans.
Ok, so the diversified economy which we were told would fund government without oil was all a ruse right?
Nixon would have taken over 6months to put a team together in an emergency.
Now they blame "oil shock" for their incompetence.

Yeye ass lickers roaming NL trying to to sound intelligent

1.Iran Contra happened under Reagan.....

2.Yes, it took APC 6 months to put together a team, and the truth is, their management of the economy, savings aside...has been poor

(We continue to spend millions under the name of Subsidy ....which is a waste...but if we removed it, fuel will go up).

Havign said that....the guy you quoted is right. And even if Bubu had appointed an economic team immediately....thigs won't have gotten better so long as the forex reserve was low.

In my honest opinion, we need to remove subsides and focus on fixing power. Things would be much harder...but benefits will kick in after ten years.

I won't be voting for APC or for PDP though....both parties don't have an idea beyond savings of what to do next.

Shuku0kukobambi:
Just because of election!!

So all projects must stop because....election?

I was no fan of PDP (just like APC)...BUT...when they were sorting out our railways I was clapping. And I clap for this one too.

FREE EDUCATION IS BAD EDUCATION

There’s a rumbling discontent brewing in Jos. On one hand, it’s great news that it is not as a result of the usual tensions that are frequently reported. On the other, it is news that forces us to confront the state of our tertiary institutions, once again. Annual tuition fees at the (Federal) University of Jos have been raised to N45,000 from N27,000, to the displeasure of the students. If history is anything to go by, we can safely expect the students to stage a demonstration, following which the university will be closed for a few months.


This is always a difficult conversation to have, especially when the discussant is on the greener side of the social divide. But this cycle will probably keep repeating itself, until tertiary education is priced sustainably. Naturally, the argument for the other side will be that education is the surest catalyst for social mobility and that the less privileged should not be priced out of education. Again, we get very little back from our government and so it should remain the government’s responsibility to subsidize all levels of education. But in spite of the vast sums that are stolen from the public purse by those we elect to serve us, which could be put towards education and infrastructure, I do not think the arguments above hold very much water.


Many people cite the Norwegian example in the argument for free education into post-graduate studies. After all, we are both endowed with vast mineral wealth. This is a false equivalence, as Norway has only 5 million people against its proven crude deposits of 5,366,000,000 BBL, compared to Nigeria’s 170 million people against its proven deposits of 37,200,000,000 BBL. Per capita, Norway is 5 times richer in oil than we are and unlike us, Norway has kept the wealth away in what is now the world’s largest sovereign wealth fund. Norway also has a tax to GDP ratio of 44% compared to Nigeria’s 6%, but let us stick with education.


Good, progressive governance should indeed be about encouraging social mobility. However, there is the question of where society is headed if the quality of education is sacrificed on the altar of social mobility. The repercussions are already being felt. Many recruiters complain about the pool of graduates from which they employ, bandying the ‘half-baked’ cliché. Many companies, especially multinationals, send their new recruits for extensive training before allowing them into general population.

Even the ‘good’ graduates, who go abroad for masters and doctorates often find it difficult at first to settle into the rigours of proper tertiary education. A lot of what passes as research in the best of our universities here is nothing but rank plagiarism abroad. Very few understand how broad and far-reaching plagiarism is and how severe the consequences are.

Plagiarism aside, how many university lecturers here tolerate dissenting views, even where those views are backed by verifiable facts/data? Chances are, if you do not regurgitate what your lecturer dictated to you or printed in the handout (s)he forced you to buy, you won’t excel in his/her course. Rubbish, you say? Law school students doing the Bar Part I course (for foreign-trained lawyers) always complain about the learning methods at the law school. “Learning,” even at the law school, is sitting through hours of note dictation. As we all know and have seen, note-dictation means you only need to find a diligent classmate with good handwriting, to photocopy his notes when it’s time to cram, 3 weeks before exams.


How do we excel in STEM or build a nation of cutting edge inventors and researchers when the majority of secondary school students are prepared and study for “Theory of Practical” exams? Why are computer science students still being taught FORTRAN (and without hardware)? Will free/heavily subsidized low quality education make us a country that can compete with the world’s leading economies?

Personally, I think we need to move away from this “XYZ Governor enjoyed free education but wants to deprive today’s youth” argument, for many reasons. The first is that, it is a lie! If you go back to our primary and secondary school literature books, the narratives showed villages putting money together to send children to school. Many people were the beneficiaries of some sort of grant or scholarship and had to drop out if things got tough back home. The second is that the annual N90 my mother paid to attend University of Ibadan in the 70s, was worth much more than the same N90 I was charged, in the 90s. That sort of system is not sustainable.

It is this free system that ensures that the best of our brains are lured away by more competitive salaries and opportunities, to contribute to the body of knowledge. It is this free system that ensures that there has been no major scientific or engineering breakthrough (of the kind that can withstand the robust and rigorous scrutiny of international peers) in any of our universities. It is this free system that makes the Ghanaian educational system more attractive to Nigerian parents, who can’t afford the US-Europe route. This same ‘free everything’ is why we don’t have technicians and artisans with proper skills.

No Nigerian university features in the World’s Top 100. The highest-ranking Nigerian University in the Times Higher Education World University Rankings 2016/17, is the University of Ibadan, at 801. Up UI, but 801? A look at the Top 10 shows them all to be from the US and UK. An expanded look at the Top 100 generally shows them to be from the world’s leading economies. It almost seems that there’s a link between the quality of education available in a country and how developed the country is.

Perhaps this should have been a piece about the government’s commitment to education rather than one about low fees. However, what we have here is a dangerous combination of both. It is doubtful that even with less sticky-fingered public officials, there would be enough money to fund all our public universities effectively. It is however clear that the funding has to come from somewhere, for this rot to stop.


https://guardian.ng/features/law/free-education-is-bad-education/

Rollitout:
Prepaid meter should be distributed to determine end users actual consumption

Yes...it is most likely Tboss does not have a prepaid meter....

Ezechinwa:
Well you have made some valid points, but do you know the following might occur as a result of this:
1. High crime rate, which means you and I have to sleep with one eye open?
2. Increase in illiteracy level as secondary and primary schools will adopt to this approach?
3. Increase in price of products and other goods, as parents would have to increase the price of their services to pay for their children school fees?
These are just a few points,

As for the Universities, we know Nigeria very well, what are their plans in improving the quality of education if their request is approved?

Because my country Nigeria, usually increase fees of items to separate the rich from the poor, so what's your proof that they really intend to increase the quality of education?

Secondly, Citizens abroad can take loans to acquire education because they trust their educational system to provide them with the jobs after schooling, But you I know that's different in Nigeria as companies don't even value our certificates, so how does increasing the school fees make our degree valuable?

1.Thats the problem. I have no proof that things would get better if fees go up. But then again, we have enough proof that low fees now-half baked graduates.

2.If we increase fees...hypothetically...more money comes in for facilities...which means better research, better quality of staff, better students and lecturers.

lexy2014:
D simple questions I asked u, u aren't answering. What is d level of access to grants, credits and subsidies in those countries compared to Nigeria? What is d interest rate on loans, educational and sundry loans compared to Nigeria? I still asked u about budget. Do we have d same budget management in Nigeria compared to ur countries of reference? Is it about budget or about proper allocation and proper management of allocation?

1.I have already answered your question.

2.You seem to be of the opinion that students abroad recieve free money which they don't pay back.

3.Education is not free.

4.The budget management in Nigeria is bad...but that is not the point. Point is...we need N3 trillion every year to keep fees low. Our budget this year was N8 trillion. You want to spend N3 trillion of that on just unviersites?

I hate making this argument....but all those loans, grants you harp about....are paid back by the students abroad when they graduate from their salaries....at a high rate. (And many of thiese students pay morgtages, and other loans, as well as credit card debts too).


Now....how do you want to fund educaiton in Nigeria? [b]Be honest....you want free stuff....without thinking how it would be paid fo[/b]r.

Well, she did not tell us the size of the hosue she is living in so we cannot make an good judgement.

Besides...high bills for power became inevitable when we privatized power in 2014....

lexy2014:
u still going round in circles. U are talking about loans that's y I asked u earlier what is d level of access to credit, grants and subsidies in these countries compared to Nigeria? Are they are at d same level? What's d interest rate 4 loans in Nigeria compared to those countries? U want Nigeria to adopt what they are doing in other countries forgetting 2 realise that their govts take a lot of load of d shoulders of their citizens like I noted earlier.

Governments don't take the load off your shoulder in developed countries.

All those credits, grants and subsidies have to be paid for...in the form of high taxes...and paying back of loans from your salaries...which could last for 25 years...

I believe i gave u my reason 4 saying don't even bring up d issue of budget. Do we have d same budget management as ur countries of reference? Didn't I mention that 2u b4? Am really at a loss as 2 what u are trying to suggest especially when there's a huge difference in d way Nigeria and other countries provides social services

You think that life in developed countries is that good ? As someone who knows people that live over theire...life aint that good.

As regards funding for education in Nigeria...we can't have a discussion without talking about the budget ....or you think that unviersites manufacture their money in Elysium?

Ezechinwa:
$20k for really high quality of education is far better than 2 million naira theoretical with no practical education we receive in Nigeria.
Illiteracy is the problem with Africa is facing, over 70 percent are either illiterate or under educated, therefore, increasing school fees doesn't solve anything but improving the quality of education can justify the increase of fees!

The reason why universites in Nigeria are increasing fees is their costs are going up AND.....they do want to prduce high quality graduates...but can't because they simply don't have the funding.

(Matters are made worse by the cosntant establishment of new universites, which make it difficult to adequately fund exisiting ones. ).

As an example...the VC of ABU (A very large university by land mass) said in a speech that he has annual overhead costs of N600million. Government gives him N100million. Where does the guy get the remaining N500million from?

As regards illiteracy, you don't need to go to university to be consdered literate. Most of my parent's generation did not go to university. A good number of them are far more literate than the average modern day university graduate. Some went to polytechnics, some went to Colleges of Education, and some went to technical schools...and did well (One guy I admired growing up was a technician who could repair anything...car, radio, tv...if he were alive now he would have branched into PC's...).

Foreign universites are very expensive...and students take heavy loans to attend those universites. The loans have to be paid back...and they chop a large amount of your salary.

In short....we have to improve our universities. They need money for facilities to be improved. The foriegn universities you like...the N2 million is money that goes to upgrading their facilities, and making them look nicer....why can't that money stay at home.

We can't afford to keep fees low. And the truth is, I don't like the idea of high fees. It will impact on my wallet one day. But then I don't like the idea of more half baked graduates either.