Free2Fly:


@ Nairalanda1, come and answer this question

All of you think I be government defender....but to answer your question, let's start with this

Nigeria is

1.Not running a diversified economy...which is partly APC's fault because they claimed that they would diversify the economy. I recall Osibanjo's beautiful speech at the Platform 2015.....eight years later, nothing happened.

2.Because of 1 above, we have been reliant on oil. 20% of our income comes from other sources, taxes inclusive. Our tax to gdp ratio is even lower than Niger Republique

3.Again, oil prices were low for a nation our size from 2014-2021. Even now, oil prices are still low...so we had to take loans to keep our heads above water...even as early as 2014. Debt is now twice our budget as we speak. Forex reserves are effectively below 5 billion dollars.


Based on the above, how would you get money

1. Boroow, borrow, borrow again.

2.Save as much money as possible....and that means doing what we have done several times...partial removal of subsidy. (Tinubu has not removed subsidy as much as people would like to believe him)....and use the savings to REDUCE the amount we would borrow.

Yes, all those fuel price rises we have been having for decades is a means by which money is saved. If we had been keeping fuel at N65 since 2012, our debt would be closing in on 100 trillion naira, not the 50 trillion it is now. It costs money to subsidise fuel.



But at the end

1.Nigeria is not earning enough money.


So, the thing this government has to do is to find ways to diversify the economy, and improve tax revenue, and really fight corruption, and really cut waste.

And as we can see, [b]it is off to a bad star[/b]t.


Nigeria is not a rich nation, it is a poor broke ass nation that does not use its resources well....

I hope this country will not be sold one day. I just Hope.

Beautifulgirl:



https://www.vanguardngr.com/2023/11/foreign-debt-to-top-51bn-as-tinubu-seeks-fresh-7-8bn-e100m-loans/

ican2020:
What of money saved from subsidy removal

Gone with the wind.

Borrowing plan

kingsways:
See the difference between Obasanjo and these people

With a barrel of oil selling less than $30, Obasanjo went round the world, campaigned for debt relief , and eventually practically paid off all Nigeria's foreign debts.

Then these evil people came. They just keep borrowing, borrowing and borrowing. Borrowing to buy luxury cars, luxury boat, and build mansions for themselves

OBJ is the best president since 1999 believe it or leave it. This is the truth and I will always say the truth

Beautifulgirl:



https://www.vanguardngr.com/2023/11/foreign-debt-to-top-51bn-as-tinubu-seeks-fresh-7-8bn-e100m-loans/

Loan go, loan come and no one is talking about production and export? Issorite.

Let's go

Suffering and smiling

micxwell:
Hmmm, sounds stupid when you think about it superficially but meaningful when you think it through deeply. The looting isn't going to stop. And apparently no one is ready to sacrifice their lives and convenience for this cause. It's going to get hard before the country starts experiencing peace.

What baffled me was that Tinubu is planning to take a loan to buy a presidential yacht. Hmmm! A crawling nation oooo. I think only about 8 nations have presidential yachts... and these nations are super rich. Tinubu wants to buy a presidential yacht with a loan. And then, the amount he budgeted for his wife... I was like...Nigeria cannot prosper. Never! So, that evil spirit pushing Tinubu should push it at a faster rate to even use our oil wells and even untapped gases as collaterals for loans. So that China, Germany, France, and other nations we are borrowing from can take over them. Then, eyes go clear...and then the way we can get back our oil wells is to kill Nigeria. Sebi na Naija dem have contracts with....the new nations will tell them to go to places. Na Naija go settle them...and not the new nations. Since Naija is no more in existence, nothing for them. This way...we will kill Nigeria in peace. No one needs to fight for Biafra...hausa sef will support them to go. Why won't they support them?

This is the way poor people can enjoy again in this part of the world. There must be no Nigeria. Nigeria must die.

The real enemies of the country Nigeria are Ignorant presidents and Leaders and Zombie followers.
Human errors in judgment are responsible for our downfall, not Satan and external enemies.
The enemies of Nigeria are living in Aso Rock Villa and heads of all federal and state establishments

At least half of Ebola Amoda Tulumbu Generation will be dollar Billionaire before he leave Office.. Seyi Tulumbu is already imposing himself in states matters




Agbodaians and Urchins tighten up your seatbelts 💺 this journey is going to pumpy 😁😊

yep we ween that yatch to enjoy the lagoons of lagos state

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Racoon:
The so called phantom generated IGRs and fuel subsidy savings are no where to be seen. But so so loans, borrowings, and so much debt pillage but nothing benefits the common man yet bastards urchins are defending all these corruption, criminality and illegitimacy

Those that dhoukd have voiced out and protested greedly accepted the dollars he was sharing. He no go recoup his money ni.

That man bought all those that matters in Nigeria with dollars.
You are experiencing firex exchange snd don't know why.
Make una enjoy your change.
If there is electioneering tomorrow, una go still collect.
When you guys are tired of collecting,una go rebuild Nigeria.
An average Nigerian even kids are exceedingly corrupt.

ican2020:
What of money saved from subsidy removal

ask them ooh. Agbado people congress were saying that tinubu don't want to borrow that is why he removed subsidy. They said tinubu is saving 4 trillions naira every month. Where is the money?

nairalanda1:



All of you think I be government defender....but to answer your question, let's start with this

Nigeria is

1.Not running a diversified economy...which is partly APC's fault because they claimed that they would diversify the economy. I recall Osibanjo's beautiful speech at the Platform 2015.....eight years later, nothing happened.


Nigeria is not a rich nation, it is a poor broke ass nation that does not use its resources well....

I know I've read you somewhere blaming BOTH the APC and PDP for Nigeria's economic problems. I'm surprised at this partial or partisan take. Anyway, I'm mainly writing to state that DIVERSIFICATION is not the basic reason for the economic crisis in Nigeria. The major reason for economic stagnation in Nigeria is GOVERNMENT domination, ownership of productive assets and GOVERNMENT regulation of prices and GOVERNMENT intervention to solve problems that people can solve for themselves.

Take away the hand of government from the economy and the people will NATURALLY DIVERSIFY their approach to production and consumption and their general economic well being. If I don't own a crude oil well, even if crude oil goes to a $1000/bbl, I will go and find something else to do to earn money. The Nigerian neglect of OTHER RESOURCES and obsession with crude oil is a result of it being COMMUNAL PROPERTY, everyone thinks they're entitled to a piece of the petroleum pie.

Just thought I'd drop that into your generally interesting commentary.

Have a good day.

Jagabanarmy:

OBJ is the best president since 1999 believe it or leave it. This is the truth and I will always say the truth

And that is the truth. Next best, Goodluck Jonathan, followed by Yaradua. Buhari is far and away the worst. Tinubu, well I'll be charitable and not judge too early. We shall see.

Good Luck to Nigeria.

nairalanda1:



All of you think I be government defender....but to answer your question, let's start with this

Nigeria is

1.Not running a diversified economy...which is partly APC's fault because they claimed that they would diversify the economy. I recall Osibanjo's beautiful speech at the Platform 2015.....eight years later, nothing happened.

2.Because of 1 above, we have been reliant on oil. 20% of our income comes from other sources, taxes inclusive. Our tax to gdp ratio is even lower than Niger Republique

3.Again, oil prices were low for a nation our size from 2014-2021. Even now, oil prices are still low...so we had to take loans to keep our heads above water...even as early as 2014. Debt is now twice our budget as we speak. Forex reserves are effectively below 5 billion dollars.


Based on the above, how would you get money

1. Boroow, borrow, borrow again.

2.Save as much money as possible....and that means doing what we have done several times...partial removal of subsidy. (Tinubu has not removed subsidy as much as people would like to believe him)....and use the savings to REDUCE the amount we would borrow.

Yes, all those fuel price rises we have been having for decades is a means by which money is saved. If we had been keeping fuel at N65 since 2012, our debt would be closing in on 100 trillion naira, not the 50 trillion it is now. It costs money to subsidise fuel.



But at the end

1.Nigeria is not earning enough money.


So, the thing this government has to do is to find ways to diversify the economy, and improve tax revenue, and really fight corruption, and really cut waste.

And as we can see, [b]it is off to a bad star[/b]t.


Nigeria is not a rich nation, it is a poor broke ass nation that does not use its resources well....

Low budget wannable economic analyst with useless analysis.

blueAgent:

Low budget wannable economic analyst with useless analysis.

K.