Clueless drug baron Tinubu, any solution in sight to it niiii. You have spent over 90 days in government, still Nigeria economy is at bad state. I’m 100% sure, the fuel ⛽️ price will increase by #800 per litre by September. It’s #940 per dollar now in the black market. Meanwhile, Current APC National Chairman, ex governor Ganduje collecting kickbacks from Kano contractor


https://www.youtube.com/watch?v=ZP9nnrCZqmw?si=4l9nyMSUt_8x_vkA

Praxis758:
But you were quiet about this under buhari and supported him when he kept blaming PDP for our woes.

It’s time for you to start blaming buhari, else, you’ll be an hypocrite!

He wanted to succeed Buhari, that's why.

Racoon:
It is today you know. Meaning, you are wicked for tolerating all the wayward and wicked borrowing policies of the Buhari government whom you proudly said you made president because of your Inordinate ambition just like the fuel subsidy issue.

And your government is already borrowing monies to give new senators an undeserving $70B for God-knows-what while looting others as 8k paltry palliative?

Tolerate you said, what would you have had him do, fight a sitting president at a point when he had interest becoming a president under the same party? The way some people reason ehn

KanwuliaExtra:


Oh no!
Not till we finish with the supreme court.
Please, enjoy the 'wailing'.

I SAY: WE MOOOOOOOOOOOOOOOOOOOOOVE!!!!

We go draaaaaaaaaaaaaaaaaaag am reassssssssssh supreme court!

Just be careful, life has no duplicate.

tollyboy5:

When buhari took loan to finance white elephant project instead of dissolving our electricity challenge even if that would be his major achievement for eight years, you supported the whole white elephant project and now we're in debt.

I hate to defend Buhari...I honestly do.

But fixing power completely, would have required...according to the experts...something like 900 billion dollars over 30 years[url][/url]....at 30 billion dollars yearly.

At best, we got the Siemens deal....which may bring some improvement (and which was hampered by covid suddenly turning up). But long term improvement? We need a lot more. GEJ at least kicked it off via partial privatisation which in theory would attract more investment.

BJanta:


Just be careful, life has no duplicate.

You dey fear to die?
That life in Nigeria you are living na life?
Not me o.
I will gladly rest in peace.
Living life as a Nigeria is not worth it with a mandate thief like TIEFNUBU in power.
Tufiakwa!

nairalanda1:


Exactly, and I am not fond of the thing...though to be honest, some senators do spend their money on sensible things. (One senator for example...now late...funded a scholarship for students going to university from his district who were resident in the district self. Some fund road projects and so forth.).

But even then, it is a lot of money.

Yep, and I suspect people like the senator you mentioned are in the minority.

OgaTheTop2:
How can a shady man rule a country like Nigeria? No be juju be that?

He no go better for INEC... Tueh!

It looks as if the Juju will make this man rule for 8 years o.

Talk one thing with mouth and bear another people disoriented motive at heart. Always on accelerated impulse on policy statements.
If you think this overrated master strategist will perform is as bad as you believing Cameroon will not release their Ladgo dam which cause untold hardship on poor Nigerians.
PEPT should have move the defining date forward.

ORIENTATION101:
Tinubu have not borrowed any money yet.

The $3b to support the naira nko?

THE NIGERIAN CITIZEN REMAIN FRAUDULENT TO THEIR SELF, BORROW AND SHARE IS THE ORDER OF THE DAY, SHAME NO LONGER CATCH YOU THE NIGERIAN CITIZEN

Excellent. I stopped reading after an impressive sentence. He has exactly the right mindset. But then again, it's easier said than done when the minions are the ones that have to deal with outcomes of the approach he proposes.
However, when you think of the big picture his line of thinking is absolutely correct. I give him credit for that.

nedekid:

The $3b to support the naira nko?

fraudulent citizen won't enjoy good governance, because they don't know anything about good governance, palliative care is better than good governance

Buhari give excuse for 8 years now tinubu has started his own excuse

adenigga:



Source: https://punchng.com/Servicing-debt-with-90%-revenue-path-to-destruction-Tinubu

So what the way 4ward, cos talking is cheap [

D man u brought and ur party are the reason APC is like this

lol but were you not under APC when they were borrowing? did you say this then who are you deciving selfish man

Shameless incompetent fool.

That is what Buhari the cow rearer caused. Never allow stark illiterate rule your nation again

nairalanda1:


I hate to defend Buhari...I honestly do.

But fixing power completely, would have required...according to the experts...something like 900 billion dollars over 30 years[url][/url]....at 30 billion dollars yearly.

At best, we got the Siemens deal....which may bring some improvement (and which was hampered by covid suddenly turning up). But long term improvement? We need a lot more. GEJ at least kicked it off via partial privatisation which in theory would attract more investment.

If the loan wasted on white elephant project where used to work on electricity alone for good eight years in Nigeria major city. We we not be where we are today. There is no excuse for failure.

nairalanda1:


Actually that report you linked to was a proposed bill .It had passed its second reading as at the time of the report..but it looks like it was not passed. (There is a big reason why, and it is viral).

Also, this is the actual budget for the NA in 2023: 228.1 billion naira. Not trillion, billion.
2021 it was around 134 billion naira.

They aren't spending trillions yet.

You try for being honest

nairalanda1:


Actually that report you linked to was a proposed bill .It had passed its second reading as at the time of the report..but it looks like it was not passed. (There is a big reason why, and it is viral).

Also, this is the actual budget for the NA in 2023: 228.1 billion naira. Not trillion, billion.
2021 it was around 134 billion naira.

They aren't spending trillions yet.

Does the budget cover constituency projects?

Brendaniel:


Does the budget cover constituency projects?

It most likely doesnt, but a brief check puts constuency projects at 700 billion between 2016 and 2022 vide Punch.

That's about 100 billion yearly

Not trillion yearly.

ORIENTATION101:
Tinubu have not borrowed any money yet.

"Nigeria's Senate approves Tinubu's $800 million World Bank loan request. Nigeria's Senate on Thursday speedily approved a request by President Bola Tinubu to borrow $800 million from the World Bank to help cushion the impact of high fuel prices after ending a popular but costly petrol subsidy"- Reuters.

ORIENTATION101:
Tinubu have not borrowed any money yet.

You obviously don't know how bad our economy is.

We are going to borrow money well. The main reason is in the headline

nairalanda1:


It most likely doesnt, but a brief check puts constuency projects at 700 billion between 2016 and 2022 vide Punch.

That's about 140 billion yearly

Not trillion yearly.

Whichever, these are unnecessary spending that will still save us hundreds of billions every year and coupled with unwanted looting that will amount to a total of over a trillion every year on just the national assembly, they should show leadership by example....

nairalanda1:
Just for the jols....a big reason why we take too many loans

1.Corruption, corruption, corruption

2.Oil prices are never favorable for us. Most of the time, the oil price is always below our set fiscal breakeven. To account for the difference, we have to take loans.(That's why I am not fond of this APC government, the precceding PDP government and even the army government. One source of income always is not a nice way to base your economy on).

As an example, in 2020, our fiscal breakeven was above 130 dollars per barrel. Thanks to covid, oil was below 50 dollars per barrel. That's why we had to borrow. If we did not borrow, we starved. Simple.

And for those GEJ haters who will come and shout that GEJ borrowed....despite having high oil prices...in 2012, our fiscal breakeven was around 122 dollars per barrel, and oil prices were averaging 108 per barrel. The deficit had to be filled...and it was loans (which is why GEJ wanted to remove subsidy then. Money not enough.).

3.Subsidies.

One thing Nigerians miss from the subsidy removal....if Tinubu had said that subsides would remain....the prices of oil would have been rising still, but government would have been paying the difference....so that means in 2-3 months, with subsidy in place, cost of subsidy would have risen thrice.

That means more money has to be spent...and most of the time, it is from other sectors of the budget.

At the end of the day, the government has a deficit...and that deficit is filled in by...LOANS.

And it has been happening over and over and over again since the 1970's....


Solution

We have to export manufactured goods...whose prices WE can set. Not tinubunomics, buharinonmica, obinomics, atikunomics......manufactruring and capitalisim would save us.

(And enable us socialists in government rake in enough cash for welfare projects and subsides....hehehe. So you thought I was a fat cat capitalist, eh?)

socialism never works

Racoon:
It is today you know. Meaning, you are wicked for tolerating all the wayward and wicked borrowing policies of the Buhari government whom you proudly said you made president because of your Inordinate ambition just like the fuel subsidy issue.

And your government is already borrowing monies to give new senators an undeserving $70B for God-knows-what while looting others as 8k paltry palliative?

You see your life. Tinubu was the first person to.have piloted states generate power in Nigeria when he was governor of Lagos. OBJ and ATIKU stooped it after Lagos state has already spent millions on it. Had it been OBJ (PDP) allowed it, Lagos would have 24 hrs uninterrupted electricity supply. So if you don't know history go and do your research and don't jump on the internet and write thrash

Brendaniel:




Oga, go and do your analysis properly, when we say senate, it means lower and upper house, staff members both political and career, constituency projects and so on all for the purpose of legislation that can be per time, read the link there, you guys argue anyhow, that's 2.1 trillion in 2020

https://politicsdigest.ng/nass-gulp-2020-budget/

how can senate mean lower and upper house?the guy is likely right that you're on mkpurumiri.so house of rep is part of senate?so what is national assembly?nairaland is gradually becoming the most ignorant forum thanks to people like you

zionstaar75:
how can senate mean lower and upper house?the guy is likely right that you're on mkpurumiri.so house of rep is part of senate?so what is national assembly?nairaland is gradually becoming the most ignorant forum thanks to people like you

Oga it wasn't the definition I was talking about, most times people use the word senate to refer all the legislators and that was my impression here, maybe it didn't do justice to the subject matter as it ought to....

Anyway, it still doesn't change the fact that Tinubu is the current problem of Nigeria...