NewStats: 3,263,794 , 8,181,428 topics. Date: Saturday, 07 June 2025 at 11:32 PM 422u3i

IMAliyu2:


What you described is also creating money out of thin air.

So not unless the employers of these workers take loans to pay their workers, instead of from the company's revenue, there will be no inflation.

You should not fear wage increases, instinctively like that, because it comes off like a propagandized excuses by employers to avoid increasing employee wages.

We should be more worried about monetary policies that devalue our currency.

The government also has oil workers. Are the oil workers for the government getting a raise too?

IMAliyu2:

There will be no increase in inflation because of this, as it's not the government/CBN printing money to pay them.
It's money already in circulation.

The Idea that money needs to be printed out to cause inflation is false. Commercial banks create ledger money through the given out of loans.

Tinubu has increased Nigeria’s foreign reserves from about $3 billion to about $20 billion by raising the price of the dollar so high that most Nigerians can not afford.

This salary increase, if it affects enough people, would lead to renewed pressure on the foreign reserves.
Basically, there is pent up demand in the system and any increase in salaries that is wide ranging would lead to renewed pressure on the foreign reserves.

If many workers get this increment, inflation across all goods and services will occur. Any increase in wages for a select group of workers would raise prices for every other Nigerian.

The solutions to Nigeria’s problems are to reduce the cost of governance, increase taxes on wealthy individuals and spur productivity amongst everyday Nigerians by providing quality education, roads to connect markets, and to re-establish the ECA to aid in strengthening the naira. Increasing wages by sector will only make more Nigerians poor as prices of goods and services would increase.

The government is simply incompetent.

nairalanda1:


Because oil revenue has never been enough to fund the budget. And government revenue relies highly on oil revenue. At best we need oil to be above 75 dollars per barrel this year to fund the 2025 budget. It has been below 70 dollars for most of the year.

( Above is also why subsidy of dollar was also stopped. Not enough coming from oil, better get money from elsewhere)

That's why since the 1980s people have been screaming at Nigerian governments to diversify the economy

How now? The issue of oil prices being too low, so the government does not have sufficient funding, shows a lack of planning and organisational skills.

Not every country is resource-rich. Nigeria's crude oil is a blessing from God. For Nigeria to have had democracy for 25 years and yet still rely on the sales of natural resources to fund its budget signifies incompetence in governance. Even if oil prices were $200 per barrel, an incompetent government would still find a way to spend it.

Competent farmers irrigate their farms so they can plant all year round. Incompetent farmers blame the gods for not bringing rain.

Thousands of years ago, Joseph the Dreamer was able to store grains during the time of plenty to save Egypt from a great famine.

Obasanjo set up an excess crude to serve as a buffer, but other "leaders" have squandered every last kobo they have earned.

Nigeria's issues stem from greed and incompetence. All other comments are simply excuses.

grandstar:


I said 1 + 1= 2 and you went off on me.

Because Nigeria is overdependent on crude oil isn't my fault. I simply stated what the consequences were when oil prices dropped.

sorry

Bluntemperor:


You tried hard to talk Nonsense.
Your last Statement - is in question?
Where and when did Tinubu ever blame Buhari for Spending Or eh like say - hate and bitterness, never leave your mind.

What are you even talking about? Nigerians are always sentimental. Everything must be viewed through political lenses. Lots of people blame Buhari for this mess. That's my point. Tinubu does not have to personally say it himself to benefit.

MrVitalis is somewhat right about Imports. There’s a need for strategy and not blanket solutions. Banning imports on food and textiles is wrong and detrimental to Nigerians. The government needs to think through their policies

grandstar:


Mrvitalis has spoken the painful truth. There is absolutely nothing wrong in importation.

Any time Nigeria suffers an economic crisis, it has never been about imports. It is always about a drop in exports through a declining crude oil price.

The Naira should naturally depreciate when dollar inflows reduce. Rather than accept the depreciation of the Naira which would reduce the demand for imports and encourage exports, they prefer a ban on importation so as to prevent the currency from depreciation. Import bans have never reduced the demand for dollars. Protectionism has failed to industrialize the country.

Of all oil producing countries, Nigeria has the highest poverty rate, the highest number of people living in poverty and the worst GDP per capita. Only war torn countries are similar to Nigeria.

At some point, farmers realize that with irrigation, they can plant year round. Why should a country like Nigeria depend on the price of crude oil for survival. This is plain incompetence.

Even in the Torah (old testament), Joseph the dreamer was able to manage Egypts wealth during the time of plenty enabling Pharaoh to manage the economy then. Yet, thousands of years later. The Nigerian government is foolishly blaming fluctuations in oil prices for its failures.

Come on man, this is ridiculous!!!

mrvitalis:

Do you know how a currency loses value?

Lets start from there

So many factors cause a currency to lose value. Debt itself can cause a currency to collapse.

In Nigeria’s case , inefficient spending and low revenue rates are why the Naira lost its value.

Tinubu increased the foreign reserves to $23 billion, yet if the government tries to strengthen the naira, the reserves will collapse again.

The same man who blamed Buhari for borrowing, is trying to borrow money now. The problem with Nigeria is incompetence

mrvitalis:


Firstly that's a big lie at the bolded

Our trde deficit has always been between +4 billion to -4 billion dollars

If you add foreign remittance it has always been positive

India has always had negative trde deficit

Your naira is weak not from import.. But loans your government take

This is completely false. The naira is not getting weak because of loans but inefficient spending of revenues and generally low tax revenue. The problem is lack of government savings.

When Obasanjo was president and Nigeria had an excess crude , the Naira gradually strengthened from about N140 to a dollar to N116, which occurred during Yar’adua’s presidency.

The Naira’s collapse is directly correlated with the diminishing of Nigerias ECA.

To further explain, if Tinubu had taken more foreign loans to buffer the Naira, and had reduced the cost of governance either through reducing the number of MDAs and other policy cuts, and the raised taxes primarily targeted at richer Nigerians, the Naira would not have fallen and the terrible inflation Nigerians are ing through would have never occurred.

I do not believe Nigeria’s debt to GDP crossed 40 percent, which is comparatively low. Nigerians are suffering as a result of incompetence in governance.

This incidence of bad centres and incorrect answer types/examination types often happens.

The JAMB registrar is an honourable man for itting the errors.

I am sure many studious students who were wrongly failed would be delighted and feel vindicated.

He is crying because of the pain he caused Nigerians. Nigeria would be better if this man were given a higher office.

For the tribal warriors, I am a Christian and Middle-Belter.

Nigeria and its cycle of government madness.
1. Politicians waste our dollar earnings on frivolity.
2. The government devalues the Naira
3. The government claims they’ve been paying subsidies.
4. The government increases prices of petrol and electricity.
5. The population protest that their wages are too low.
6. The government increases the minimum wage by a marginal amount.
7. Poverty increases amongst the population.
8. The politicians waste our dollar earnings on frivolity.
9. The government devalues the naira.
10. The government claims they’ve been paying subsidies.
11. The government increases the prices of petrol and electricity.
12. The population protest that their wages are too low.
13. The government increases the minimum wage by a marginal amount.
14. Poverty increases amongst the population.
15. The politicians waste our dollar earnings on frivolity.

An endless cycle!!

what is the difference between IBB and Tinubu?

Ojuntana. Capitalism is great but even in America there is property taxes and there is car insurance which is a form of progressive taxation.

An open economy is one in which a country partakes in international trade. A closed economy is opposite.

If a countries citizens import whatever they like and the government puts no measures to limit them, their local currency will always be under pressure.

Markets are free to an extent. Trump is limiting the importation of Chinese EV’s to protect American production and the dollar. This goes against free market capitalism, but it is the right strategy. Trump has announced that any company that wants to sell its products to Americans must manufacture in America.

Nigeria has so many opportunities but its citizens lack understanding of how the world works. You are in competition against all nations not just against each other. If the poorest Nigerian is comparatively rich, all Nigerians are rich. Until the government understands its role in increasing the productivity of its citizens, Nigerians will keep getting poorer. Textbook definitions and subscriptions only go so far.

Has any money been accrued in Nigeria's excess crude ?

The Naira seems to be headed for its destination of N6000 to a dollar as none of Tinubu's policies has led to any accretion of funds in Nigeria's ECA.

The Naira, like most currencies, is not backed by a lot of savings, so it tends to lose value when international (external) events occur.

These events include:

-things that lead to the fall in crude oil prices.
-rising U.S. interest rates.
-increases in national debt-to-revenue ratios.
etc.

My point is Oyedele is celebrating too early. nothing has been achieved. The removal of subsidies only reduced the pressure on Nigeria's economy, giving the government time to restructure, the benefit of which would be the accretion of funds in the ECA.

Tinubu has only made the Nigerian masses poorer. He has protected the rich and the Naira is still extremely vulnerable to collapse.

Any list that doesn’t have Condola Rashad from Billions isn’t worth it

jedisco:


Exchange rate means little. It can be set arbitrarily like many countries have done. Some have even rebased their currency but without the right fundamentals, the slide would only continue.

What matters is stability not the nominal exchange.
Its stability that determines the strength of a currency and investor confidence

You're 100% correct. The exchange rate is meaningless. What's important is the stability of the currency.

Currencies derived their values from precious metals such as gold and silver. However, in the 70s, Nixon removed the dollar from the gold standard and made it free-floating. Free-floating implies that its value is derived from the demand and supply of US dollars. In reality, countries try to keep their currencies stable in many ways, such as reducing government spending, raising taxes, raising interest rates to attract international bond traders, increasing investments in public education and healthcare to make your citizens more productive, and investments in security and tourism, etc.

IbeOkehie:


Would be interesting to know the basis of this statement. 🤔

Good Luck to Nigeria

The federal government published its budget projections for the next three years and stated that it had borrowed more money from the CBN this year than the law permitted. In other words, the government is overprinting money.

mrvitalis:
Tinubu openly told Buhari to just print more money? Helicopter money as he called it

During Buhari's first term, Tinubu boys and girls held the economic aspect, and the nation nosedived

There is nothing Tinubu is doing now that was not obvious under Buhari people were just too blind

The nepotism? South West APC cornered 70% plus of all the post-APC zoned South.

The bad economic policy? Buhari's first tenure was handled economically by Tinubu-recommended boys

Tinubu is still printing Naira, just as Buhari did. I see no difference in their policies.

Treadway:
The chart isn't invalid. It states the period under review as 2010-2022. The article states the highest amount recorded in the ECA was under Yaradua, so let's agree that it likely happened before 2010.

Yes, I know and agree Jonathan bleeped up, but someone else is central to all the things we have already talked about today, and that is Tinubu. He was one of those who rallied the populace against subsidy for political reasons. He advocated for the excess printing of money. He again thwarted what could have been a mop-up of that same money by rallying the populace against that policy, also for political reasons.

Floating the naira was a wrong move. You don't say with a mouth that you want to remodel your house, then move to burn down the house when you don't even have cement or bricks on the ground to do the remodelling. It was stupid, is what it was. They all met debt and ballooned it uncontrollably due to substantial subsidy payments because the naira had been devalued. He has increased domestic debts by over 45 trillion and foreign debt by $20 billion in just one year, still due to the effects of this same devaluation and, of course, corruption! Let them continue on this trajectory; we will all see where it will lead. Jonathan bleeped up, but if we didn't have a conglomerate of inept and self-serving criminals called the APC at the helm of affairs, we wouldn't be in this precarious situation today...and so I allocate a whole lot more blame to them.

Obasanjo wasn't handed an incredible slate either when he was brought out from prison to rule in 1999, but we can all now see that despite his flaws and the fact that he could have done better, the man still tried!

It's all good, sha.

I agree with most of what you have said. Tinubu is doing a horrible job.

Treadway:
Also, I'd like to drop some stuff here about the ECA (pre and post-Jonathan) and the foreign reserves (pre and post-Jonathan) so we all and are clear on the figures. Just shine a light on things for those interested in knowing the facts. The highest ECA recorded here was in 2012, which was $11.5b, although the other article references that it hit 22b sometimes under Yaradua sha... I can't quite marry those two s, but anyway...

The cable news you just posted shows that the highest the excess crude reached was $22 billion. However, the chart starts in 2010 rather than 2004, when the excess crude was created, which invalidates the chart.


I focus on GEJ because resource-rich countries that are poorly managed experience the cycle Nigeria is ing through, and the remedy is maintaining an excess crude (sovereign wealth fund).

Nigeria has ed through this cycle twice in the last 50 years. When we have an opportunity to break out of the cycle, will we make the same mistakes of our past?

These are the facts.
GEJ was fortunate to lead Nigeria when crude oil prices were at their highest in recent history.
The money saved by his predecessor was consumed.
He saved no money.
Nigeria had one of the fastest-growing economies as a result of its spending.
Such spending created a problem once oil prices fell.
Buhari inherited a country with much lower revenues than its expenses and met no savings.
Buhari had few options. Raise taxes, cut government spending or borrow money.
Buhari borrowed money from the CBN(ways and means) and foreign institutions.
Tinubu inherited a highly indebted country with debt to revenue approaching 100 per cent.
Tinubu had a few options, too. Raise taxes, cut spending or borrow money.
Please tell me who I should blame amongst these three.

Regarding your comments on fuel subsidies, as hard as it may be for you to understand this, your government is lying to you. You must understand the relationship between the value of the Naira and crude oil prices to understand the government's duplicity. There are other factors, such as increased population, but that is still part of the government's responsibility. The Naira fell from N120 to N160 when Nigeria earned the highest amount from crude oil. This is a misnomer. When you talk about subsidy payments, you have to for changes in the exchange rate.

Obasanjo and Yaradua increased the value of the Naira from N140 to N116. Both leaders faced rising crude oil prices, and Obasanjo adjusted the price of petrol from N22 to N75. Both leaders held down government spending. However, GEJ increased government spending, forcing tough decisions on Buhari and Tinubu.

IbeOkehie:


The PDP, either OBJ or Jonathan, started a sovereign wealth fund. There was also an Excess Crude . The State Governors led by Chibuike Amaechi and also maybe Lagos State sued to have it distributed. Again, it is very public knowledge. It happened, and they won.

Fuel prices are high because of the falling value of naira. I agree with you. What caused the falling value of naira? Massive printing of naira over productivity.

I agree it was a missed opportunity regarding the Sovereign Wealth Fund. I think Nigeria does have one, but there's not much money. Here's their website - https://nsia.com.ng/our-history/. The daughter of oBuhari's's then Chief of Staff, Abba Kyari, works there., she got the job straight outuniversity it DI. It read some good economic papers that compare and contrast the UK with Norway. Both have North Sea crude oil, but only one saved the income. Maybe Nigeria learned its ways from our Mother Country. Or maybe [it's impossible to have an excellent public savings culture in such a diverse nation as Nigeria.[/b] What do you think of that?

Good Luck to Nigeria

It’s interesting to see that the UK also messed up, as we did. We are in agreement on the issue. Since GEJ earned the highest income from crude oil sales and wholly depleted the 25 billion he inherited from the Excess Crude , he is responsible for this crisis. Put yourself in GEJ's, BUHARI’s and Tinubu’s shoes and say what you would have done differently. This is the most appropriate way to apportion blame.

IbeOkehie:


I read the post carefully. While you have some excellent points, you missed some important ones

As far back as 2013, Mr Tinubu campaigned for a massive increase in the money supply as a major solution to Nigeria's economic problems. He wrote at least two major policy papers urging the government to engage in "counter-cyclical" stimulus. I've repeatedly cited them on Nairaland.

The then Finance Minister Ngozi Iweala felt pressure to PUBLISH an official rejection of the recommendation, which was a big deal at the time.

Unsurprisingly, when APC won the Presidency in 2015, Mr Buhari implemented the profligate Ways & Means policies. As a practical matter, the money was needed to pay for all the socialist programs that the party promised Nigerians, including LOW FUEL PRICES.

The massive printing and borrowing of currency was the most significant contributor to the loss of naira value. This has been officially acknowledged. There's no debate, though we know there are OTHER MINOR factors.

Have a good day.

Good Luck to Nigeria.

Both Buhari and Tinubu have been horrible at managing Nigeria’s economy. I will never argue against this.
Understanding how a sovereign wealth fund stabilises an economy is necessary, for you know why I blame GEJ above anyone else. I will attach a YouTube video to this post.

In simple , a sovereign wealth fund is like a diet. It forces you to eat less than you can, which results in suboptimal growth. Even when you produce less food, you can still maintain your previous level of consumption without having to borrow much.

Buhari had to implement tough reforms or borrow money because Nigeria ate everything it earned. Nigeria’s economy was amongst the fastest growing on earth because it refused to put itself on a diet. If Goodluck had insisted on saving, Buhari would not have needed to print or borrow money, and the reforms Nigeria is ing through would not have been severe.

If Nigeria fails to learn to save, it will be stuck in a cycle of fast growth for a few years when oil prices rise and painful reforms for 10-20 years when oil prices fall.

Your talk on fuel subsidies is irrelevant. Gasoline prices in America are about the same as they were in 2006-2007. Prices are not at record highs. Fuel prices in Nigeria are so high because of the falling value of the Naira. Subsidies exist because of our bad savings culture. The government is not doing the citizens a favour; it is failing to maintain a stable currency and ing the cost on to the citizens.

Nigeria will be better by the grace of God.

Looking at the chart, Tinubu has successfully implemented 6 out of 12 policies of the World Bank. All six directly affect the ordinary person. The other six are-:

- Improve balance sheet transparency (reduce corruption).
- Strengthen non-oil revenues.
- Increase transparency of oil revenues (reduce corruption).
- Reduce the cost of governance.
-Reduce trade restrictions that increase prices and poverty.
-Scale up and provide relief to the population.

These policies benefit the masses and negatively affect the Elite, so Tinubu is not interested in implementing them.
Rather than Nigerians to face Tinubu, they blame the World Bank for Tinubu's skewed implementation of reforms.

IbeOkehie:


cc Gerrard

https://www.morningstar.com/news/marketwatch/2024102128/north-dakota-voters-could-end-property-taxes-and-pour-gas-on-the-spark-of-a-growing-tax-revolt

https://www.valleynewslive.com/2024/06/29/end-unfair-property-tax-takes-another-step-forward-get-rid-property-taxes/



The initiative is on the ballot -

https://www.sos.nd.gov/news/constitutional-initiative-related-property-tax-approved-november-5-2024-ballot

Let's watch and see. If this es, it's the opening shot in a long battle that will, I believe, end property taxes in the USA. It's about time.

Good Luck to the USA.

You will probably end up being right. Laws always change here, and other taxes may increase to pay for public education. I will follow the elections in North Dakota.

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.

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.

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.

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.

vanitybutiwanti:
Oga, do Nigerians pay tax? The FG will increase VAT and personal income tax on 100M monthly earnings. Nigerians are already grumbling and speaking against the policy. Do you think Governance is easy? Do you think it's about writing trench and impracticable gobbledygook on the Internet? I followed the Presidential debates keenly. The leading presidential candidates agreed to remove subsidies and eliminate the parallel exchange rate(i.e. Floating the Naira). It's on record, and now that the policy has been enacted, people are coming out to say they would have borrowed money to defend the Naira. How do you expect the government to earn enough to service previous and existing debts, assuming the government had borrowed to defend the Naira? Amongst it other responsibilities? Are you aware that only civil service salaries for 1.2 million federal workers equate to 4 trillion annually?

All of you know what to do on the Internet because you are not the President, Tinubu is this and that yet all 36 state governors irrespective of their party affiliation all ride in a convoy of luxury cars, they fly private jet and eat into public funds, is that also Tinubus fault?

It isn't important now whether governance is easy or not. What should be clear to all Nigerians is the mindset of our leaders when they make decisions.

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

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 into 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 avaricious. The best way to know a foolish president is to see if Reno is his er.

nairalanda1:


Comrade Ulbricht, you have erected so many strawmen and made so many wrong assumptions about my beliefs that I don't even bother.

Keep loving your strawmen. They will love you too

You argue to win, not to learn or improve society. Your ideas have crumbled Nigeria.

You see everything as black or white and understand issues at a low level.

You feel there are easy solutions to complex matters.

You assume if a person isn't 100% neoliberal, the person is a socialist. Everything is simple to you. There are no grey areas.

Have I judged you wrongly?