₦airaland Forum

Favour934:
Shots fired! If this doesn't speak to Tinubu, I don't know what will

He's indirectly saying that it's not wise to reverse present policies. That will amount to two steps forward and three steps backward.

Holluwhakemmy:
helping both genders not only female. One tree can never make a forest

But this man's double helps to reduce the over-population.

redcliff:
Elon musk makes things that benefit his economy. What doesdangote do yo benefit nigeria ecinomy?

He is the largest employer of labour after government. Do you want him to start selling his products at a loss before you appreciate him.

MadPolitician:
I see beautiful roads all over the world. In Turkey, in China, even here in Africa, we have solid roads in Ghana, Senegal, Morocco etc. Were these roads done by julius berger? Are we tied to julius berger? Who fused it into thr brains of almost every Nigerian that if the road was not done by julius berger, it must be a bad road. 4 bilion per kilometre. This started with Fashola in lagos and now , it's spreading all over the country. Julius Berger can easily be replaced.

And there are many Nigerians in different countries who are into mega construction works. Moreover the country should have found a way to make materials that are used for road construction to be very cheap, nationwide, since all can be sourced from Nigeria. Importing some of these materials, provides these fishy construction companies with the excuse to increase the cost of road construction in Nigeria.

Truth is that Berger was not originally good at road construction. It was bridge and structure. Italian and British companies were the majors in our road construction. Indigenisation made Nigerians and some state governments eg Lagos invest in Berger. Suddenly they started taking up road construction because they were more available than other jobs.

Holluwhakemmy:
Congratulations to them in advance

Double portion.... helping the female folks.

LadyExcellency:
80% of Abians have boreholes in their compound or not far away.

Lie ...big lie. I live in Aba

Any young economist knows it's better not to start a reform than to start and stop half way. It's like diagnosing a patient of malaria and typhoid, having a prescription for three weeks, commencing the treatment and stoping on the third day.

The government can only think of modification but not reversal. Watch how refineries will spring up creating jobs because of subsidy removal.

The governor that said that the reforms are not working, without the reforms he wouldn't have been able to run his government. You remember the days of many months salaries being owed civil servants.

Where's his own reform for his state? Is his state controlled by FG.

MEEVEET:
All this Grammer what they are hiding is simple

NNPC would balance dangote the difference between his profitable price and the price he agreed to sale to PMAN

All this grammar , rigmaroling just to hide the obvious fact you pay subsidies?

Why are you people like this? If they pay subsidy you complain. If they remove subsidy you condemn the government that they are tpain. So what do you want?

Your assertion here is wrong because nnpc will not have control of the quantity lifted. The only way that government can influence dangote price is either of fixing exchange rate or offer of discount on crude purchased. Either way it's professional because this is what they use for farming produce abroad.

ubest1:
If Dangote cannot come out openly to tell Nigerian his official selling price forget they are all scammers

Which company comes to social media and traditional media to begin to announce the price of their products to Tom, DIC and Harry? You have forgotten that dangote refinery is a private company. If you want to know their price go to their office to buy their products.

naijaboy756:
so what caused the increase in the dollar against the naira? 1.7k shamefully

1. Your old exchange rate was artificial. Arbitrarily fixed and defended with petrodollar.
2. The petrodollar is no longer there.
3. So much was borrowed in the past to fund your budget. The debts will have to be serviced now.
4. Uncontrolled importation. Petroleum products being a major factor.
5. The situation was so bad that your foreign reserves were depleted such that you couldn't defend the fixing of the exchange rate anymore.
6. Adverse balance of trade.
7. Because your old artificial method was no longer sustainable, there were backlog of due fx obligations.
8. Massive usage of ways and means to fund your budget resulting to too much money pursuing too few goods. This is part of the inflation.
9. High level corruption in every area of the economy.
10. Etc. etc.
So you can see that we were in a big mess. The economy was totally dislocated. The orthopedic surgeon has to work. Of course there must be massive pain.

naijaboy756:
And Naira is still crashing against the dollar.. What is the effect of the FX not used for importation?

Demonic government in power

So you expect overnight turnaround within three weeks? Is your assertion sensible?

Namaster:
It's nice to finally put a face to the SCOURGE of Nigerians.

And it's DANGOTE and his GREEDY partners.

A NEWLY operational refinery has taken over the supply of 1 MILLION of the 1.3 Million barrels that Nigeria needs.

That's MORE than 75% of the Nigerian Petroleum supply being handled by Dangote.

That's a MONOPOLY!

Or near enough rhat it makes no difference.

Every problem the refinery is supposed to SOLVE has been EXACERBATED.

Dangote pays Naira for crude oil YET the Naira continues to PLUMMET.

He cut out the MIDDLEMAN (NNPCL) and instead of price reduction, he JERKED UP the price.

The transportation savings from NOT having to pay the shipping fees of importing refined petroleum products is NOT passed to customers.

Dangote and his ELITE backers are taking advantage of Tinubu's shitty policies to DESTROY Nigeria.

Would you have preferred the status quo? The western economies will not be happy about this. The product is produced here using Nigerian labour. The byproducts will become raw material for Nigerian companies.

The performance of dangote refinery will encourage other entrants with consequent multiplier effect.

Why are you people very narrow because of hatred. This is a major base for industrial development.

Kingbuhari:
Nigeria military are just useless. This is time to take over and save the country for further disgrace

Have you seen military take over before? Ask

RingRoadCartel:
Osanobua roast your scrotum there for bringing Emefiele into this! Was the naira this worthless under him? All you people do is blame and shift goal post, no real forensic insight

Any time there's this unusual drop check the reasons:
Major debt servicing and/or
FAAC disbursement.

It has been discovered that there's correlation between FAC disbursement and exchange rate distortion. Governors take out state monies and convert to dollar.

Composure1:
Am man like you can't get wiser pastors are using you people, ok they preach the word of God then why going offering for your fellow man

Did we complain to you? Your eyes are not open so you don't have understanding. We know the benefit.

Composure1:
rest, your part of the people they are using

I'm very happy being used by the Lord and for the Lord.

iramure:
what about china where nothing like jesus is allowed

They practice their own religion too.

braveboi4life:
I will advice Pastor Adeboye to also define the succession plan for RCCG, else the implosion that will come on redeem when he is gone will be second to none

It's already clearly defined. The same method that brought him will bring his successor.

Composure1:
Church is business now, some of us are wise, what is the meaning that common pastor will be buying G wagon don't play o

You call a pastor common pastor. You don't know the quality of pastors that we have now.

FYI there are pastors that are part timers.... very rich and successful in their professions, work for the church for free and spend their millions for the work of God.

You guys just stay online and say all manner of things about church and pastors and we laugh at your ignorance.

SmartPolician:
Jumia isn't making money in Nigeria yet several years after they've operated here. Some things are just beyond human understanding. I just pity their investors

They told you that they aren't making money in Nigeria and they chose to remain. They are making money in South Africa and Tunisia and they chose to close down

Beremx:
They will soon leave Nigeria too. If they can't survive in South Africa and Tunisia, na T-Pain administration dem wan survive?

Inukwa akuko?

You don't know the value of what you have

vanbonattel:
Go and have a seat my friend. You see a man who ran Lagos aground and still supported him to inflict more suffering on the whole country. Better be ready for kwashiokor. Your suffering never start.

The power issue in this country is it a one government issue? From military regime till now. Obasanjo and atiku did their thing and got it worse.

Even if Obi was elected would he have solved it all even in four years. When Tinubu was governor he attempted to solve it for Lagos through IPP. When Obi was governor what was his effort for his state?

maxiuc:


But Naira is dead very useless currency Tinubu needs to be chased out he's very clueless

Did you read at all. Yours is just to insult Tinubu.

nedu666:
If your exports exceed your imports for two consecutive quarters. Why is your currency losing value. Your economy is growing yet you are experiencing hyper inflation, more poverty, lower purchasing power, what sort of economy is that

You can have trade surplus in a period but debt servicing can swipe out all that. This means that your main challenge is the mistakes of the past. It will take time to deal with it.

Have you noticed that there is a correlation between FAC disbursement and increase in exchange rate? The subnational leaders have questions to answer. The dollars that they are using stolen state money to buy distort every effort of cbn.

Nkupu:
This jobless deadbeat dad who abandoned his legally married wife and three children, including twin boys, for another woman who he impregnated out of wedlock should shut up. A well known thief. No appointment for you. Go and ask FFK how far.

Face the facts that he laid before you.

Bobloco:
Reno Omokri is a rabble rouser

He knows that under Tinubu, there's no light at the end of the tunnel

Bring out facts as he did. Not hatred and emotions.

Fujiyama:
^^^
No.

The tragedy in all this is that tax reform is desperately, urgently needed in this country but...this notoriously inept and profligate administration will waste whatever revenues it gets from a reform of the tax system. That is the gospel truth.

This administration has demonstrated time and again that it is wasteful...wasteful right down to its very core. This profligacy is its basic character and it cannot be changed. There was a golden opportunity early in the life of the administration to prove that it wasn't going to be business as usual...and what did we get? The COP 28 debacle, UNGA 79, presidential yachts padded into the budget, presidential jets padded into the budget, abominable sitting allowance for minimum wage panel members, 90 billion hajj allocation, presidential cadillac padded into the budget etc. We could go on and on.

You mentioned other countries where the tax system works properly. Well...in those countries, institutions are much stronger and impunity doesn't reign supreme. There are some countries in Northern Europe where people actually trust their governments to do the right thing...and trust is everything.

Any additional tax revenues earned by this government from tax reform will be wasted and life for the average Nigerian will get even worse. The only good thing that may potentially come out of this whole sad mess is that people who are forced to pay high taxes tend to hold their governments more accountable...people generally become a lot less tolerant of misgovernance when they are paying high taxes.

Tax reform without institutional reform? Tax reform without public sector reform? That's just like fetching water in a basket. Intense but wasteful activity that is ultimately futile.

Nigerians put themselves in this mess. How they will get out of it is anybody's guess.

Good and very good. Nigerian governments have always been prodigious in their management of resources. From military to present one. No exception. Even the sub-nationals are notorious. The slow flow of petrodollar now has exposed them. That's why we are where we are. But the good thing now is that the man at the saddle now has the courage and the training to take decisions that will expand the income base. OBJ had similar but his training and exposure didn't point to this.

The problem of Nigerian economy has always been twin: narrow income base and poor management of resources.

I don't belong nor support any political party. Infact I must be truthful to say that I didn't vote. But of all the popular faces the present man has the courage and knowledge to reform. I'm very sure that the thought of the rest is how to manage what we have and not how to expand what we have.

Let's accept that we need to do what they want to do while demanding that they should reform the expenditure habits of the nation. Already private and business entities are reforming their expenditure habits. We should demand that governments should reform theirs.

When there's little profigacy is easily exposed but when there's much it's less exposed. This has been what has sustained Nigeria all these years. There's little now and we are exposed.

Key to proper management of our resources is political and structural reforms. I can tell you that no one from the north will do it. Among the faces from the south BAT is the only that will have the courage to do them. Again the alternative would have been OBJ but he couldn't because he was put there by the north. I see BAT overhauling the structure of the federation if he succeeds to come for a second term.

He's an awoist and a strong advocate of it. That's why even eminent citizens like the patriots are approaching him for it. Say what you want about him I think that he has his eyes on history.

To eliminate accusation of bias: I'm an Igbo from Owerri. A simple professional and Christian.

MrRichmond:
The average Nigerian doesn't understand economics, so I won't be surprised if they think this rubbish is good news

When you tax the rich, they leave to tax favorable places, they're not poor people that are hunkered down by location, they go with their money and then your economy goes poof!

Because the so called rich you are vilifying are the ones that run your companies and industries.

Another disaster loading.

Why do you think rich Nigerians prefer living and running their businesses here in spite of the imperfections? Try not to pay the required taxes in advanced economies and you end up in jail. Do you know that the ordinary Nigerians on PAYE are the ones that pay the bulk of direct tax. With all the properties and investments that the rich have what is the income that come through capital gains tax and capital transfer tax? Apart from CIT that their companies pay after heavy tax evasion, how much do they pay as PIT?

kettykin:
This government and foolocracy. Government of the fools by the fools for the fools. May God punish apc and their supporters. Useless demons.

Money government did not help me to make , they now want 25% of it. Fools without redemption

Where in the world would you make money without paying tax? Where is your legal right to query how resources are managed when you didn't contribute. Nigerians and their altitude. You want to go to heaven but you don't want to die. You want constant electricity without paying. You want regular PMS with subsidy. You want to attend the best university without paying the right fees. We want cheap imports from subsidized fx. We want the best infrastructure without paying taxes. We are a special breed.

kettykin:
Watch all our wealthy people relocate. This seems like the last straw.

Relocate where? Where they will pay more tax? Where they will be jailed for none payment of tax?

kettykin:
Notice how these ineptitude, inexperienced, incompetent, ignorant , imbecilic entities that had through their wrong policies brought the economy on its knees will now drive wealthiest people with their nonsensical policies.
.tell me what are you going to us the taxes to do if not to take crowds to Dubai and London and Paris buy jumbo jets, buy watches and yatches.

Firstly, cut down the cost of governance to the barest minimum before taxing the rich.

In the next 5 years there might not be private jets or wealthy people in Nigeria all because of the gross stupidity of apc government

Bunkum. Mr know all we have not heard of great industries that you nurtured and how your name is flying all over the world as the best economist. It is trite in Nigeria that the rich don't pay commensurate tax. Here they are talking about fiscal and monetary policy reforms and you bring up cost control and cost reduction issues.