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Nairaland Forum / Nairaland / General / Politics / World Bank Blames FG As High Inflation Worsens Poverty (16917 Views)
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Re: World Bank Blames FG As High Inflation Worsens Poverty by boxypane(m): 7:48am On Feb 05, 2022 |
The world bank has inadvertently created an avenue for more borrowing of forex by the Buhari-led FG. It's quite unfortunate that we didn't learn from history. Though the countries financial status has not been damaged beyond repairs, but we fast and brilliant measures to curb this menace of inflation. Measures such as Strict price control. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by CocoaOla: 7:52am On Feb 05, 2022 |
Nigeria inflation is the highest in African |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Fretice(m): 7:54am On Feb 05, 2022 |
The FG is to blame for all our woes. It has always been like that. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by samwheel(m): 7:58am On Feb 05, 2022 |
chigator2: D fuel subsidy dat has been removed over d years, what have they done with d money if not looting. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Angelfrost(m): 7:59am On Feb 05, 2022 |
blackpanda: Don't abuse the word "hate"! No one can hate the obvious Facts. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by franudi: 8:02am On Feb 05, 2022 |
Upon all these facts, people are still talking about voting for APC again. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Ruggedniggaone: 8:04am On Feb 05, 2022 |
JAMO84:your brain is off egbon 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 8:04am On Feb 05, 2022 |
The Nightmare from Daura has destroyed this country. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by chloride6: 8:09am On Feb 05, 2022 |
Meffy don't care about that |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 8:10am On Feb 05, 2022 |
Well, an easy way to cut inflation is by removing subsides on petrol and power. In return for high prices, we get more money coming in by way of investment, and more jobs even, since profit making becomes possible in both sectors. Also, we can end up by increasing our revenue from taxes, by getting tax from the 70% of taxable Nigerians who do not pay income tax at state and federal level, as well as improve VAT collection. But since it means high prices for everything in the short term, people don't want to agree...so we keep on spending above our means to provide welfare and keep on taking more and more loans. Fun thing is that the opposition wants more of the same as the government. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by techWriter3: 8:10am On Feb 05, 2022 |
We not ok. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by nnamdi640: 8:11am On Feb 05, 2022 |
Zombies should come and defend their leaders. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by system21: 8:11am On Feb 05, 2022 |
What Buhari is after is building railway line for his herdsmen brother from Niger �� 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 8:15am On Feb 05, 2022 |
blackpanda: Well, if we removed subsidy, we would have more money in government coffers to spend. Let's be honest. You won't like it if you were selling maize in the market, and government was the one setting your price, not you , and they were telling you to sell it at a price that would enable the poor to afford it. At the end you would be losing a lot of money, and the subsidy government pays you won't be enough to cover losses. So, you lose money, and the farmer loses money, the transporter and wholesaler lose money as well. So, why do you want us to keep doing it for the oil sector? ESPECIALLY since years of chronic losses are why NNPC does not have refineries (the corruption and sabotage that damaged the refinereis is a byproduct of the losses). Stop blaming the World Bank. It's time we removed subsidy. We are spending an increased amount this year on subsidy, because rising oil prices means that we don't have enough money to pay for other things...since all our money is going on subsidy and on debt servicng since oil prices until revently have been low. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by nzeobi(m): 8:17am On Feb 05, 2022 |
tunjilana: Government running a business breads inefficiency and wastage. Let the subsidy be removed and you will see how attractive that sector will become and the speed modular refineries will spring up. Imagine we stop importing fuel, the impact on our forex will be much and I expect Dollar to sell for like 250 or so and that reduces the inflation and hardship. 5 Likes 1 Share |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Urchman200: 8:18am On Feb 05, 2022 |
blackpanda:this one will blame every opinion against Buhari government, but will never see him disagree with any of the government policies that have landed us in this mess we are in today. 3 Likes 1 Share |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 8:22am On Feb 05, 2022 |
nzeobi: Someone gets it! What a relief to see a sane post on nairaland about this subsidy thing. That's what most people don't get about subsidy. Low prices means losses potentially for anyone wishing to set up a modular or big refinery. Even Dangote is taking a risk (though the guy has said he is selling at international prices ONLY). 3 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Urchman200: 8:23am On Feb 05, 2022 |
shortIGBOman:Buhari smartness brought Emefele. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by walemoney007(m): 8:25am On Feb 05, 2022 |
Shikini:The inflation rate got to a double digit in 2014 Buhari handling of the economy is a disaster though 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by walemoney007(m): 8:28am On Feb 05, 2022 |
owagbeba:Nah wah o If Nigeria is a sane country, the National Assembly would have impeach Buhari. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Houstency(m): 8:29am On Feb 05, 2022 |
blackpanda: Are you any different from Nigerians that can't critically think? With all your critical thinking, you supported Buhari as president and still support him even with his abysmal failure and lack of leadership? Worse still, same Buhari was one of the key players who got us to this point since independence and you still offer blind tacit support for his govt! 2 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Jostoman: 8:33am On Feb 05, 2022 |
Antoeni:March, May, June, August and September. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by kelvnigeria(m): 8:35am On Feb 05, 2022 |
This is never a suprise for us considering that this is the most useless government in the history of Nigeria. Imagine a president reacting to facts as "well.... I dont know where you get your data from...... but as far as I am concern...." It means nothing in the government is done with facts and logic. So we are not suprised that no concerted effort was made to curb the rising inflation in the country. 1 Like |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Jostoman: 8:35am On Feb 05, 2022 |
Lovenorth:they are IPOB |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Jostoman: 8:36am On Feb 05, 2022 |
175:or they will call world Bank IPOB. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Jostoman: 8:39am On Feb 05, 2022 |
Ogbodavies:Zombies will soon come here and call world Bank IPOB |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Jostoman: 8:40am On Feb 05, 2022 |
Enyimbamercedes: |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Blackdisciple(m): 8:48am On Feb 05, 2022 |
It's a deliberate act on it citizens |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Nobody: 8:49am On Feb 05, 2022 |
Shikini: Low oil prices. Between 2010-14,crude was at $91-130. April 2014, the Americans and Saudis decided to 'play chicken' over oil prices, and the drop began. By 2015, oil was at 75 dollars, and has remained at a low state, sometimes dipping below 30 dollars, largely below 70 dollars till this month Less revenue means less money means inflation rises. It does not mean Buhari is a good leader, it means he is a bad leader because he should have devised means of responding to the drop in revenue by getting other sources of revenue....and by removing subsides, and rasing tax revenues. |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Awoleesu(m): 8:49am On Feb 05, 2022 |
Racoon: All your analysis these "beggy-beggy" leaders know! But like the average Nigerian they are, it is all about what's in it for themselves and their own... They actually don't care about the welfare of the masses. This cycle continues because the masses have a worse beggy-beggy mentality - they prefer to be sycophants and eat the crumbs that fall from the table of the corrupt politicians than to stand up against them and demand their rights! 3 Likes |
Re: World Bank Blames FG As High Inflation Worsens Poverty by derecho(m): 8:49am On Feb 05, 2022 |
Lovenorth:Rejected the idea or postponed the idea? |
Re: World Bank Blames FG As High Inflation Worsens Poverty by Corrections: 8:52am On Feb 05, 2022 |
stonemasonn: And what exactly would happen? Corruption would disappear? |
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