NewStats: 3,263,871 , 8,181,677 topics. Date: Sunday, 08 June 2025 at 12:26 PM 675f4c

Tianamen1:


Whether governance is easy or not isn’t important now. What should be clear to all Nigerians is the mindset of our leaders when they are making decisions.

Nigeria has a population of 220 million people and an unproductive civil service of 1.2 million people. That is about .5 percent of Nigerians are federal civil servants, most who got their jobs through connections (myself included). What would it have cost the government to implement the Oronsanye report, merge MDAs to reduce the cost of governance. Should .5 percent of connected individuals matter more than 90 percent.

Obasanjo faced a worse situation than Tinubu, why didn’t Tinubu copy and paste Obasanjo’s policies.

Tinubu should have prosecuted the people who got Nigeria in this mess. The people who wasted our best years of earnings and our excess crude . But he chose to fraternize with them, to purchase property at a discount from them. To be shameless and avarice. The best way to know a foolish president is to see if Reno is his er.

you want the President to sack some civil servant so that Nigerians will come on the Internet to curse his generations? The fuel subsidy removal and Floating of the naira he implemented, Nigerians won't let him rest, all over the radio and TV stations, all they talk about is the supposed heartlessness of the President, yet you're still advocating for harsher policies

What was OBJs policies?
Were Nigerians not complaining about Hardship, poverty and unemployment when OBJ was president? How was election run when OBJ was the head honcho? Was OBJ and the governors not living large on Tax payers fund? Some of you think we were born yesterday.

Tinubu won't pursue anybody because he is realistic, all of the political class including the oppositions are corrupt, to them Politics in Nigeria is a business, even Obi the saint said he won't go after looted funds because he knows his hands are not clean.

tommy589:
■ Nigeria adopted most of IMF condionalities in the implementation of SAP without taking the loan.

■ Official devaluation of Naira started with SFEM Yes, the Second-Tier Foreign Exchange Market (SFEM) was an alternative strategy to meet IMF conditionalities. The SFEM was a second official foreign exchange market in Nigeria that was open from September 1986 to the middle of 1987. The market was open to both Nigerians and foreigners, and the initial plan was to find a market rate for the naira.

There's no truth to the claim.

2. Did you read what that said?

IBB was president from 1985 through 1993. There is a report that was published in 1997 that reveals what Nigeria in fact did and when. And I suspect this was when IBB designed to commit himself to fully looting Nigeria's oil windfalls.

Just today in Rivers state, a senator doled out 1billion for tech empowerment fund, 500m education fund, distribution of agricultural palliative for 7000 persons in his senatorial district.

vanitybutiwanti:
You want the President to sack some civil servant so that Nigerians will come on the Internet to curse his generation? The fuel subsidy removal and Floating of the Naira he implemented, Nigerians won't let him rest; all over the radio and TV stations, all they talk about is the supposed heartlessness of the President, yet you're still advocating for harsher policies

What were OBJ's policies?
Were Nigerians not complaining about Hardship, poverty and unemployment when OBJ was President? How was the election run when OBJ was the head honcho? Was OBJ and the governors not living large on Taxpayers' funds? Some of you think we were born yesterday.

Tinubu won't pursue anybody because he is realistic, all of the political class including the oppositions are corrupt, to them Politics in Nigeria is a business, even Obi the saint said he won't go after looted funds because he knows his hands are not clean.

Please go through this site to see the number of companies that have been privatised or shut down over the years. No one is crying over the matter. https://www.bpe.gov.ng/category/completed-transactions/

However, people are crying over petrol prices and the value of the Naira. Opportunity cost is the very first topic we all learned in Economics.

Tianamen1:


Please go through this site to see the number of companies privatised or shutdown over the years. No one is crying over the matter. https://www.bpe.gov.ng/category/completed-transactions/

Who told you no one is crying over the matter? I have extended family that were affected by NITElL privatisation, up till today many of them hate OBJ, it will interest you to know that many retired and dismissed civil servants voted for Buhari in his second term because he paid their pensions monthly and part of their gratuities, OBJ just gave them chicken change without placing them on monthly pensions, When GEJ was made president, he said he wasn't owing them, Buhari came in and settled all of them, till date they still receive their pension from PITAD and other government agencies because of Buhari. Reason I don't take people on Internet serious, many of you talk about things you know nothing about, OBJ pushed a lot of families into poverty by selling those assets at chicken change without duly compensating the workers. To individuals like you with no skin in the game, OBJ is a good man, to those workers and their families OBJ is a thief and a bad man. People died, wives left their husbands, and kids dropped out if the university because of privatisation.

vanitybutiwanti:
Who told you no one is crying over the matter? I have extended family that were affected by NITEL privatisation. Today, many of them hate OBJ. It will interest you that many retired and dismissed civil servants voted for Buhari in his second term because he paid their pensions monthly and part of their gratuities. OBJ just gave them chicken change without placing them on monthly pensions. When GEJ was made president, he said he didn't owe them; Buhari settled all of them. They still receive their pension from PITAD and other government agencies because of Buhari. Reason I don't take people on Internet serious, many of you talk about things you know nothing about, OBJ pushed a lot of families into poverty by selling those assets at chicken change without duly compensating the workers. To individuals like you with no skin in the game, OBJ is a good man, to those workers and their families OBJ is a thief and a bad man. People died, wives left their husbands, and kids dropped out of the university because of privatisation.

I take no joy in anyone's pain.
Buhari faced a country with reduced crude oil earnings and struggling to pay its civil servants. Rather than cutting costs and punishing the individual who left Nigeria with almost no savings in our ECA, he borrowed money, hoping oil prices would recover.

Tinubu encountered a country facing a debt-to-revenue ratio of about 90%, so he could no longer borrow. Tinubu made several decisions, and he made the worst possible decisions. This is the point I am trying to convey.

Tianamen1:


I take no joy in anyone's pain.
Buhari met a country with reduced earnings from crude oil, struggling to pay its civil servants. Rather than cutting costs and punishing the individual who left Nigeria with almost no savings in our ECA, he borrowed money, hoping that oil prices would recover.

Tinubu met a country facing a debt-to-revenue ratio of about 90 per cent. so he could no longer borrow. Tinubu had several decisions to make and he made the worst possible decisions. This is the point I am trying to across

worst possible mistake according to you ' in hindsight ' because I could swear that before the elections educated Nigerians agreed that subsidy should be removed and the naira should be floated, just like I opined earlier, talk is very cheap and a lot of persons on the Nigerian cyberspace talk a lot of bullshiit and pontificate a lot.

In any case I never voted for Buhari or Tinubu, I'm just a realist who says things as they are.

vanitybutiwanti:
worst possible mistake according to you ' in hindsight ' because I could swear that before the elections, educated Nigerians agreed that subsidy should be removed and the naira should be floated, just like I opined earlier, talk is very cheap and a lot of persons on the Nigerian cyberspace talk a lot of bullshit and pontificate a lot.

I never voted for Buhari or Tinubu, I'm just a realist who says things as they are.

For years on this site, I have advocated for higher taxes on wealthy Nigerians and proper funding of basic education for the masses. I have campaigned for progressive property taxes and higher taxes on cars, clothes, and phones to limit our importation of these products. I have called for the prosecution of GEJ for mismanaging our excess crude and for reducing the costs of governance.

read this

Tianamen1:


In 1999, Obasanjo increased the price of fuel from about N12 to about 22 Naira. Throughout his presidency, he adjusted the price of petrol as the price of crude oil increased. The cost of a litre of gasoline in 2007 was about N75.

Obasanjo also removed the gap between the official exchange and black market rates. He devalued the Naira from N80 to about N140. The Naira appreciated to about N120 in 2007 and reached a maximum value of N116 in 2008.

Both policies helped stabilize Nigeria’s macroeconomy.

Obasanjo also reduced government spending by privatizing MDAs through the BPE, which was led by Mallam Nasir El Rufai.

Obasanjo monetized the housing and vehicle allowances civil servants received, saving the nation lots of money.

Obasanjo 7X workers’ salaries, so the civil servants did not suffer like what is happening now.

Obasanjo created the IC and the EFCC to reduce corruption in Nigeria

Obasanjo created the excess crude to prevent Nigeria from collapsing economically, as it has just occurred.

Obasanjo’s failings

Obasanjo once said his parents named him Matthew, but he was not a tax collector. This action encouraged Nigerians to import anything they wanted.

Mr Atiku Abubakar said that his and Obasanjo’s UBEC policies failed to deliver quality education to Nigerians.

The late Chief Tony Momoh blamed Obasanjo for changing the official government vehicle from the 504 Obasanjo introduced in the 1970s to SUVs in the 2000s.

Political transition selecting the sickly Yaradua and the highly incompetent Goodluck Ebelechukwu Jonathan.

I hope I have satisfactorily answered your question.

Tianamen1:


For years on this very site, I have advocated for higher taxes on wealthy Nigerians, and for proper funding of basic education for the masses. I have campaigned for progressive property taxes, and higher taxes on cars, clothes and phones to limit our importation of these products. I have called for the prosecution of GEJ for mismanaging our excess crude and have called for reducing the costs of governance.

read this

Nigerians do not like paying tax, its very easy to write these things on the Internet. The government is about to increase taxes snd Nigerians are already crying in the media. Tinubus government launched Credicorp and Nelfund, credicorp is platform for civil servant to get loans at single digits with a flexible repayment plan, I heard that they will also be funding solar installations from Next year.

Tinubus government is building low income estate in selected states in Nigeria, at least I can attest to construction ongoing in Karsana Abuja by ministry of housing.

Tinubus government already sent out memos to customs and other allied agencies, from next year, a single body will be responsible for generating tax , customs and others will have to focus on their core mandate.

Tinubu devalued the naira just like OBJ, you don't expect the country to reap the gains from this policies overnight, Tinubus has not been president for up to 2 years, OBJ did all of the things you considered to be good above but I dare say if election was free and fair in his second Tenure, he would have lost because a large percentage of Nigerians were dissatisfied with his government. As an educated person, you should know that Nigerias problems cannot be solved overnight, anybody coming to the Internet to say he will perform magic in a year is a thief.

Tinubu is not alone, he consults individuals like Akinwinmi Adesina, Sanusi Lamido, Charles Soludo and others.

In any case below is a governor in one of the states in Nigeria who just copped the latest BMW, maybe we should blame Tinubu for this purchase too

vanitybutiwanti:
Nigerians do not like paying taxes; writing these things on the Internet is straightforward. The government is about to increase taxes, and Nigerians are already crying in the media. Tinubus government launched Credicorp and Nelfund, credicorp is platform for civil servant to get loans at single digits with a flexible repayment plan, I heard that they will also be funding solar installations from Next year.

The Tinubus government is building low-income estates in selected states in Nigeria; at least, I can attest to construction ongoing in Karsana Abuja by the Ministry of Housing.

The Tinubus government already sent memos to customs and other allied agencies. From next year, a single body will be responsible for generating taxes and customs, and other entities will have to focus on their core mandate.

Tinubu devalued the naira just like OBJ; you don't expect the country to reap the gains from these policies overnight. Tinubus has not been president for up to 2 years. OBJ did all the things you considered good above, but if the election had been free and fair during his second tenure, he would have lost because many Nigerians were dissatisfied with his government. As an educated person, you should know that Nigerias problems cannot be solved overnight, anybody coming to the Internet to say he will perform magic in a year is a thief.

Tinubu is not alone. He consults individuals like Akinwinmi Adesina, Sanusi Lamido, Charles Soludo and others.

In any case, below is a governor in one of the states in Nigeria who just copped the latest BMW. Maybe we should blame Tinubu for this purchase too

I don't think Tinubu's policies will work because he presents as though he is for the elite class instead of being the father of all Nigerians. Time will surely tell. I feel he shouldn't have let the Naira collapse.

I don't trust any of the people you mentioned. I trust Emefiele more than all those guys up there; that's how much I don't trust the names you mentioned.

Have a great night.

benardtotti:


Leave her to keep deceiving herself that Argentina is doing well

Stop quoting fake news BBC as your source because they are left-wing garbage.

https://www.batimes.com.ar/news/economy/imf-hails-argentinas-impressive-progress-under-milei.phtml

vanitybutiwanti:
Madam Argentinians are suffering now, I am beginning to dislike the Internet because of ignorant individuals who go about talking about things they know absolutely nothing about with certainty.

When youths are ers of any government, it's a sign of hope and prosperity. His reforms are working.


https://www.youtube.com/watch?v=h1rD3CYyQO8?si=n8NmhH6xN9k8koOO

Treadway:
me I don give up on nairalanda1 tey tey.

If fuel never hit 2k, he no go happy. All the other issues and nuances no matter to the nigga, na sha make fuel cost increase be the Koko. By then sha when the fuel hit 2k, and full tanker na 100million and maybe only 1 station per state na im dey dispense fuel as per say all fuel stations don fold up, we go see whether problem don dey solved or whether dem don create another fresh and worse one. Till then, me jus dey ignore im posts.🚶‍♂️🚶‍♂️🚶‍♂️

As I've always maintained, I don't even mind the removal of subsidy, but devaluing the naira at the same damn time, was just nothing less than a mad decision by a mad man/men.

Remove the subsidy, and defend the naira at least till one or more expected refineries come on stream. That is what a sensible human being that isn't CORNfused and has dung for brains would have done, given our circumstances. No be textbook theory apply in this case, na common sense apply.

To be net exporter of finished products isn't a day thing, infact in our case, it isn't even a decade thing.

Defend the Naira with what money? It cost dollars to defend the currency. The CBN was owing purchasers of foreign exchange $7bn. There was barely $3bn in real in the reserve as all the other money had been pledged.

You don't seem to realise how bad the economy was.

What Tinubu did was what in economics is called Shock Therapy. End all subsidies at once and free their prices, rather than do things piecemeal which most people prefer. Shock therapy is bitter but it ensures a more solid recovery, encourages massive investments, and improves the governments fiscal position quickly as well.

Poland was a communist country. In communist countries, prices are arbitrarily set by the government. Prices have no relationship to cost or market forces. Everything is basically subsidized, at times, heavily subsidized. Likely most subsidized goods, there were always shortages, and people had to queue to get things, or wait for years.

To get a car in the former Soviet Union, you have to wait 7 years.

Poland, decided to free all prices at once, rather than do so bit by bit. From 1989 to 1992, the pain was much. But afterwards, the economy began to boom. It is now the of Central Europe. During the 2008 Global recession, the Polish economy was still rather strong.

But why is freeing prices and making it market determined necessary? The answer is simple: it encourages investment, massive investment.

To understand it better, look at the GSM industry. In 2001 when the licences were sold, MTN, Airtel won, and one was given to MTEL. The government allowed them to fix their prices. MTN and Airtel (then Econet), fixed their prices at N50 per minute, while MTEL fixed theirs at 22/minute, the peoples price.

MTN and Econet invested massively in their network while MTEL disappeared. Later, GLO and Etisalat ed the industry. Today, the country has over 100m lines from the 400,000 that was available in 2001.

Should the government have fixed the price at N22 for everyone? This would have discouraged many from investing. Investors are only keen on investing their money where the prices are freed. They want to fix their own prices.

Look at Dangote refinery. He commenced the refining of AGO and kerosene sharpily because their prices were liberalized. Meanwhile, petrol which has the biggest demand was neglected. Why? Because the prices was fixed and subsidized. He is only producing petrol today because government is either selling it from him a special price which makes it possible to produce and make a profit, or they purchase the petrol from him at the market price, and resell it to marketers at a subsidized price. That was why NNPC was the sole offtaker at one time.

20 licences have been given out since 1999 to build refineries but how many have been built? The only refineries built are those refine only kerosene and diesel. These are small refineries.

If you think the telecom industry changed this economy, wait till you feel the effect of a higher developed downstream economy. Had the subsidy been removed decades ago, Nigeria would be refining at least 3m bpd by now. Nigeria has a highly developed upstream oil sector. Their are huge oil rigs offshore worth billions of dollars. Nigerians have invested billions of dollars in marginal oil fields, in large oil wells and so on.

grandstar:


Defend the Naira with what money? It cost dollars to defend the currency. The CBN was owing purchasers of foreign exchange $7bn. There was barely $3bn in real in the reserve as all the other money had been pledged.

You don't seem to realise how bad the economy was.

What Tinubu did was what in economics is called Shock Therapy. End all subsidies at once and free their prices, rather than do things piecemeal which most people prefer. Shock therapy is bitter but it ensures a more solid recovery, encourages massive investments, and improves the governments fiscal position quickly as well.

Poland was a communist country. In communist countries, prices are arbitrarily set by the government. Prices have no relationship to cost or market forces. Everything is basically subsidized, at times, heavily subsidized. Likely most subsidized goods, there were always shortages, and people had to queue to get things, or wait for years.

To get a car in the former Soviet Union, you have to wait 7 years.

Poland, decided to free all prices at once, rather than do so bit by bit. From 1989 to 1992, the pain was much. But afterwards, the economy began to boom. It is now the of Central Europe. During the 2008 Global recession, the Polish economy was still rather strong.

But why is freeing prices and making it market determined necessary? The answer is simple: it encourages investment, massive investment.

To understand it better, look at the GSM industry. In 2001 when the licences were sold, MTN, Airtel won, and one was given to MTEL. The government allowed them to fix their prices. MTN and Airtel (then Econet), fixed their prices at N50 per minute, while MTEL fixed theirs at 22/minute, the peoples price.

MTN and Econet invested massively in their network while MTEL disappeared. Later, GLO and Etisalat ed the industry. Today, the country has over 100m lines from the 400,000 that was available in 2001.

Should the government have fixed the price at N22 for everyone? This would have discouraged many from investing. Investors are only keen on investing their money where the prices are freed. They want to fix their own prices.

Look at Dangote refinery. He commenced the refining of AGO and kerosene sharpily because their prices were liberalized. Meanwhile, petrol which has the biggest demand was neglected. Why? Because the prices was fixed and subsidized. He is only producing petrol today because government is either selling it from him a special price which makes it possible to produce and make a profit, or they purchase the petrol from him at the market price, and resell it to marketers at a subsidized price. That was why NNPC was the sole offtaker at one time.

20 licences have been given out since 1999 to build refineries but how many have been built? The only refineries built are those refine only kerosene and diesel. These are small refineries.

If you think the telecom industry changed this economy, wait till you feel the effect of a higher developed downstream economy. Had the subsidy been removed decades ago, Nigeria would be refining at least 3m bpd by now. Nigeria has a highly developed upstream oil sector. Their are huge oil rigs offshore worth billions of dollars. Nigerians have invested billions of dollars in marginal oil fields, in large oil wells and so on.

he didn't defend it and still managed to balloon d the huuge debts maalu Buhari left behind....increased domestic debt by 45trn naira and foreign debt by 20b usd in one year only after the shock therapy of removing electricity subsidy, fuel subsidy, and letting the naira rot. What great savings, what marvellous improvements! Oya explain this conundrum with plenty English abeg. I dont know why you theoreticists have all decided not to address this simple conundrum i have pointed out since yesterday.🤷‍♂️

Shebi now that the naira became zim dollar 2.0 like i called it in our discussion over a year ago, investors are coming in in droves? Shebi investors are rushing to zimbabwe now. By the time a 15yo in the US can use 100usd buy the same house you used your whole working life build, maybe we go get sense in this country, because this una love for self immolation as una own way forward is not ordinary. Una own way forward is everything must go very bad, fuel must be very expensive, food must be out of reach, and our money must be like 10000 naira to a dollar. That is una definition of progress.

Carry on na.

Una never ready.

Treadway:
he didn't defend it and still increased the domestic debt by 45trn naira and foreign debt by 20b usd after the shock therapy of removing electricity subsidy, fuel subsidy, and letting the naira rot. What great savings, what marvellous improvements!
Una never ready

Devaluation— not floating— means the Naira is being defended, does it not? We originally assumed it was floated but the recent clarification came in to explain what many have suspected for some time now. How else do you explain the CBN, sometime in July/August, announcing it was spending yet $100 billion from the Foreign Reserves to defend the Naira, some months after denying it was defending the Naira after it was found that over $1 billion was funneled out of the Foreign reserves in March/April?

https://news.bitcoin.com/nigeria-acts-to-defend-naira-after-currency-hits-new-record-low/

IF TINUBU KNOWS WHAT HE IS DOING HE SHOULD TAG THE NAIRA NOW AT N500 : $1
AND TELL DANGOTE AND NNPC LTD TO DO QUICK COST REDUCTION SURGERY WHEREVER IN THEIR BUSINESSES TO ENABLE THEM SELL FUEL AT NOT MORE THAN N500 PER LITER IN ALL FILLING OUTPOSTS IN NIGERIA.
IT'S A MATTER OF CONTROL URGENTLY NEEDED NOW AND IT IS A PRESIDENTIAL PREROGATIVE..
NIGERIA IS GOING DOWN THE DRAIN. PLEASE STOP THE DRAIN BY TAGGING THE NAIRA AND FIXING THE FUEL PRICES.
DEATH OF AKEREDOLU WAS CARELESS, THEREFORE LAGBAJA MUST LIVE.

LadyExcellency:


Stop quoting fake news BBC as your source because they are left-wing garbage.

https://www.batimes.com.ar/news/economy/imf-hails-argentinas-impressive-progress-under-milei.phtml

Read all you quoted , the same imf you claimed Milei shunned assisted him with financial services, this discussion in above your mental capacity obviously.

nairalanda1:


Yea.

It's the internet. Everyone is right.

I won't engage them any more.

You put up a valiant effort, but what I've learned from years of wasted effort is that there are few creatures as uneducable as Nigerians faced with economic realities they would prefer to deny. When confronted with matters of simple logic, they either resort to special pleading ( "economic laws that work everywhere else don't apply to Nigeria" ), reach for tired old tropes about "corruption" (as if zero corruption would make 1.3 million bpd last as long for a population of 200 million as 2 million bpd used to for 70 million), or, when these gambits fail to blunt the critiques they don't want to hear, they sink to ad hominems ( "agbado" ) or shopworn conspiracy theories about institutions like the IMF and the World Bank (even though the ranters typically don't have the first clue what these institutions actually do).

Sad to say, Nigeria is in the economic mess it is because its leaders are either drawn from the same mass of economically illiterate, entitled loudmouths, or they are so scared of the wrath of said loudmouths that they lack the courage to do what is right for fear of protests and the inevitable, idiotic agitations for some strongman in khaki to leave the barracks and come "save" the country from "corruption" (as if soldiers have ever been less corrupt than civilians). Nigerians have exactly the calibre of rudderless, unprincipled leadership they want and deserve, quick to pander to their stupidest beliefs even when they know full well said notions are impossible (just look at how Atiku and Obi have been pretending that subsidy abolition was done the "wrong" way, even though all of them were for immediate abolition during the electoral season).

Frankly, it's a waste of time trying to put forward reasoned argument on this forum. Most participants are too stupid and uncouth to be worth all the trouble.

benardtotti:

Read all you quoted , the same imf you claimed Milei shunned assisted him with financial services, this discussion in above your mental capacity obviously.

As you've noted, some characters are simply not worth responding to, that self-styled "excellency" being one of the premier examples on this forum.

omohayek:

You put up a valiant effort, but what I've learned from years of wasted effort is that there are few creatures as uneducable as Nigerians faced with economic realities they would prefer to deny. When confronted with matters of simple logic, they either resort to special pleading ( "economic laws that work everywhere else don't apply to Nigeria" ), reach for tired old tropes about "corruption" (as if zero corruption would make 1.3 million bpd last as long for a population of 200 million as 2 million bpd used to for 70 million), or, when these gambits fail to blunt the critiques they don't want to hear, they sink to ad hominems ( "agbado" ) or shopworn conspiracy theories about institutions like the IMF and the World Bank (even though the ranters typically don't have the first clue what these institutions actually do).

Sad to say, Nigeria is in the economic mess it is because its leaders are either drawn from the same mass of economically illiterate, entitled loudmouths, or they are so scared of the wrath of said loudmouths that they lack the courage to do what is right for fear of protests and the inevitable, idiotic agitations for some strongman in khaki to leave the barracks and come "save" the country from "corruption" (as if soldiers have ever been less corrupt than civilians). Nigerians have exactly the calibre of rudderless, unprincipled leadership they want and deserve, quick to pander to their stupidest beliefs even when they know full well said notions are impossible (just look at how Atiku and Obi have been pretending that subsidy abolition was done the "wrong" way, even though all of them were for immediate abolition during the electoral season).

Frankly, it's a waste of time trying to put forward reasoned argument on this forum. Most participants are too stupid and uncouth to be worth all the trouble.

Lol. Agbado! When you are ready to apply your brain, come back and tell us how T-pain managed to increase domestic debt by 45trn naira and foreign debt by around $20b all in just one year, despite supposedly removing electricity fuel, and education subsidies, and also turning the naira to tissue paper.

Shouldn't debts be shrinking and more money saved per your theories?

Show yourself approved, why don't you? No be by English, you no Sabi English rish LordAdam even in the off-chance say you sabi am me🤣

omohayek:

You put up a valiant effort, but what I've learned from years of wasted effort is that there are few creatures as uneducable as Nigerians faced with economic realities they would prefer to deny. When confronted with matters of simple logic, they either resort to special pleading ( "economic laws that work everywhere else don't apply to Nigeria" ), reach for tired old tropes about "corruption" (as if zero corruption would make 1.3 million bpd last as long for a population of 200 million as 2 million bpd used to for 70 million), or, when these gambits fail to blunt the critiques they don't want to hear, they sink to ad hominems ( "agbado" ) or shopworn conspiracy theories about institutions like the IMF and the World Bank (even though the ranters typically don't have the first clue what these institutions actually do).

Sad to say, Nigeria is in the economic mess it is because its leaders are either drawn from the same mass of economically illiterate, entitled loudmouths, or they are so scared of the wrath of said loudmouths that they lack the courage to do what is right for fear of protests and the inevitable, idiotic agitations for some strongman in khaki to leave the barracks and come "save" the country from "corruption" (as if soldiers have ever been less corrupt than civilians). Nigerians have exactly the calibre of rudderless, unprincipled leadership they want and deserve, quick to pander to their stupidest beliefs even when they know full well said notions are impossible (just look at how Atiku and Obi have been pretending that subsidy abolition was done the "wrong" way, even though all of them were for immediate abolition during the electoral season).

Frankly, it's a waste of time trying to put forward reasoned argument on this forum. Most participants are too uncouth to be worth all the trouble.

What many fail to even understand that when a World Banker was the finance minister, a large part of the international debt was paid off ($30bn), and $20bn was left in the Excess Crude .

The economy of Ivory Coast is doing well under the president who was once with the IMF.

A best gauge of the poor understanding of economics that people generally have can be seen in Burkina Faso, when the strongman there, Ibrahim Traore, nationalised a British owned goldmine.

Many were celebrating his action. Nationized companies become white elephants. A South African said he hoped Malema could do likewise.

I asked him if he wanted the goldmines to be another Eskom? The only reason why South Africa suffered from load shedding was because it was government owned. In private hands, that would never happen.

A Nigerian cheered the action as well. I asked if he wanted NNPC to takeover Shell and Chevron? What does he think would happen thereafter.

I got fed up and realised many have a poor understanding and unready to learn.

Oshiomole, who fought OBJ for 8 good years, preventing him from ending the fuel subsidies,regretted his actions upon becoming a governor. He then realised the enormous damage the subsidy was doing, and ed the petrol price increase in January 2912.

Treadway:
Lol. Agbado! When you are ready to apply your brain, come back and tell us how T-pain managed to increase domestic debt by 45trn naira and foreign debt by around $20b all in just one year, despite supposedly removing electricity fuel, and education subsidies, and also turning the naira to tissue paper.

Shouldn't debts be shrinking and more money saved per your theories?

Show yourself approved, why don't you? No be by English, you no Sabi English rish LordAdam even in the off-chance say you sabi am me🤣

And here we see a sterling example of all the sorts of inanities I was referring to. You should feel proud of yourself - it's quite an accomplishment to display every single idiotic issue I raised in your incoherent, abusive ranting.

omohayek:

And here we see a sterling example of all the sorts of inanities I was referring to. You should feel proud of yourself - it's quite an accomplishment to display every single idiotic issue I raised in your incoherent, abusive ranting.

yet more babble and vapid nonsense.

Show yourself approved, why dont you?

Answer the question up there, if you actually have any sense at all, or just go chew on some damn corn, and spare us all the maladorous BS🤣

grandstar:


What many fail to even understand that when a World Banker was the finance minister, a large part of the international debt was paid off ($30bn), and $20bn was left in the Excess Crude .

The economy of Ivory Coast is doing well under the president who was once with the IMF.

A best gauge of the poor understanding of economics that people generally have can be seen in Burkina Faso, when the strongman there, Ibrahim Traore, nationalised a British owned goldmine.

Many were celebrating his action. Nationized companies become white elephants. A South African said he hoped Malema could do likewise.

I asked him if he wanted the goldmines to be another Eskom? The only reason why South Africa suffered from load shedding was because it was government owned. In private hands, that would never happen.

A Nigerian cheered the action as well. I asked if he wanted NNPC to takeover Shell and Chevron? What does he think would happen thereafter.

I got fed up and realised many have a poor understanding and unready to learn.

Oshiomole, who fought OBJ for 8 good years, preventing him from ending the fuel subsidies,regretted his actions upon becoming a governor. He then realised the enormous damage the subsidy was doing, and ed the petrol price increase in January 2912.

show evidence of the bolded pls.

Not too much to ask right?

Treadway:
show evidence of the bolded pls.

Not too much to ask right?

https://dailypost.ng/2012/01/12/ekiti-labour-leaders-protesters-blast-oshiomhole-over-subsidy-removal/

https://thenationonlineng.net/fuel-price-hike--fed-govt-oshiomhole/

https://www.vanguardngr.com/2012/01/oshiomhole-and-the-subsidy-crisis/

He came out to show his . His was never hidden.

grandstar:


https://dailypost.ng/2012/01/12/ekiti-labour-leaders-protesters-blast-oshiomhole-over-subsidy-removal/

https://thenationonlineng.net/fuel-price-hike--fed-govt-oshiomhole/

https://www.vanguardngr.com/2012/01/oshiomhole-and-the-subsidy-crisis/

He came out to show his . His was never hidden.

thanks

The second/middle link was for Buhari tenure, so that comes as no surprise.

The first and the last links i know about, and i'm well aware of....that he was part of the committe that brokered the deal that ultimately ended the standoff between FG and the occupy nigeria protesters. But being vocal about his for the removal at the time, i dont quite it playing out that way. However, for the sake of this discussion, lets just say I agree with you on that.

Treadway:
yet more babble and vapid nonsense.

Show yourself approved, why dont you?

Answer the question up there, if you actually have any sense at all, or just go chew on some damn corn, and spare us all the maladorous BS🤣

Yawn. More foul-mouthed idiocy from a föol, full of sound and fury, signifying nothing.

Treadway:
he didn't defend it and still managed to balloon d the huuge debts maalu Buhari left behind....increased domestic debt by 45trn naira and foreign debt by 20b usd in one year only after the shock therapy of removing electricity subsidy, fuel subsidy, and letting the naira rot. What great savings, what marvellous improvements! Oya explain this conundrum with plenty English abeg. I dont know why you theoreticists have all decided not to address this simple conundrum i have pointed out since yesterday.🤷‍♂️

Shebi now that the naira became zim dollar 2.0 like i called it in our discussion over a year ago, investors are coming in in droves? Shebi investors are rushing to zimbabwe now. By the time a 15yo in the US can use 100usd buy the same house you used your whole working life build, maybe we go get sense in this country, because this una love for self immolation as una own way forward is not ordinary. Una own way forward is everything must go very bad, fuel must be very expensive, food must be out of reach, and our money must be like 10000 naira to a dollar. That is una definition of progress.

Carry on na.

Una never ready.

My brother

You see all these agbado economists, they are fraud itself. Just look at all of them. You asked them why the policies have not brought the massive investments and reduction in debt etc etc etc they claim it will bring and yet they divert to more turenchi
I raised the issue of $582bn said to have been stolen from Nigeria since independence and they all remain blind to it. Na so so grammar while the country is being raped to stupor by incompetent and corrupt leaders.
Oya simple question. They should give us an example of a country that has devalued its currency and removed all subsidies that is now swimming in investment and prosperity
The biggest joke of it all was when WB VP came and told us we must endure for 15 years before the reforms will "start bearing fruits". Note the ad hominem there o. Bearing fruits

nairalanda1:



You need to realize that everyone who does not share your views s oppression.

The reason why I oppose subsidy is simple. TO pay for subsidy for petrol for this year, so that it can cost N200....it would have cost our budget something like 17-20 trillion naira.

(And note that it won't stop smuggling. Every country I know that has a subsidy has smuggling...that means millions of losses.)

So, imagine spending 17 trilluion even something like 12 trillion...which was the estimated cost of subsidy for 2023, assuming PIA did not take effect.....that means a huge hole is in our budget...which would be filled with loans.

Add the fact that by August 2022, we were spending 90% of our revenue on loans and more loans payment. Revenue for next year's budget.

So, if we did as you want, we would be a year from now, out of money totally, and the IMF would not borrow us any more. The kind of anarchy that would result eh?

But you, Kukutenla, Lexy2014, LadyExcellency, Kukutente, Deepsight, SIlasGreenback, and a host of others do not see it that way, so, I leave you to your ideas.

This is the internet. Everybody is right after all.

I take my leave.

Good night, and enjoy the borrowing.

how did you come about these figures you have shared above?

grandstar:


What many fail to even understand that when a World Banker was the finance minister, a large part of the international debt was paid off ($30bn), and $20bn was left in the Excess Crude .

The economy of Ivory Coast is doing well under the president who was once with the IMF.

A best gauge of the poor understanding of economics that people generally have can be seen in Burkina Faso, when the strongman there, Ibrahim Traore, nationalised a British owned goldmine.

Many were celebrating his action. Nationized companies become white elephants. A South African said he hoped Malema could do likewise.

I asked him if he wanted the goldmines to be another Eskom? The only reason why South Africa suffered from load shedding was because it was government owned. In private hands, that would never happen.

A Nigerian cheered the action as well. I asked if he wanted NNPC to takeover Shell and Chevron? What does he think would happen thereafter.

I got fed up and realised many have a poor understanding and unready to learn.

Oshiomole, who fought OBJ for 8 good years, preventing him from ending the fuel subsidies,regretted his actions upon becoming a governor. He then realised the enormous damage the subsidy was doing, and ed the petrol price increase in January 2912.

what is the "enormous damgae the subsidy was doing"?

lexy2014:


how did you come about these figures you have shared above?

Rafael, do not give in to the anger...