helinues:


But majority of the serviced debt wasn't obtained by this government

You have a point. In saner climes, Buhari would have been under investigation by now. His govt really did this country dirty.

But Tinubu has also not also fared better. What has Tinubu done with all the monies borrowed by his govt? If people actually see what is being done with these monies, they wouldn't have any problem with the borrowing. They should be transparent and tell us specifically what these funds are being used for.

They are looting this country dry.

adenigga:



https://dailytrust.com/Debt-Service-Gulps-70%-Of-Dollar-Outflow-In-Q1

I remember:
Manavulture griller
Hell-anus
Yarimo
Throwback
Free stuff
Etc,
supporting the mindless borrowings by their darling daddy. No tye birds have come to roost. They urged Buhari on while he made a mess of our economy.

Now they are urging their god on while he kills everything that remains of our economy.

My GOD!!!

You guys are evil with so much unimaginable hatred for this country. You support evil leaders, policies,and actions.

Immediately the looting of Abịa State as done by Ikpeazụ was made public, fiam,they started supporting him. They supported Yahaya Bello while he held sway at Kogi. They supported the mess done by Rochas.


Im-p-s.

Resident evils

Shamelessness at its best.

Amayabor1:


You have a point. In saner climes, Buhari would have been under investigation by now. His govt really did this country dirty.

But Tinubu has also not also fared better. What has Tinubu done with all the monies borrowed by his govt? If people actually see what is being done with these monies, they wouldn't have any problem with the borrowing. They should be transparent and tell us specifically what these funds are being used for.

They are looting this country dry.

The person that you addressed is a evil personified. He and his cohorts supported the mindless borrowings by their darling daddy then. When we warned and shouted, they called us all manners of names. Now their god is doing worse than Buhari and we are shouting. They are busy insulting PO.

Imagine spending all these monies on the national assembly. Imagine the betta Edu stuff. Imagine build road at trillions with only one contractor. A road that is not a priority for now considering the present economic situation. Why not fix east-west road and other bad roads in South-south and southwest first, support production before any other thing?

helinues:


But majority of the serviced debt wasn't obtained by this government

Will you keep kwayiet!!!

You knew all these and you cheered him on while he borrowed mindlessly.

Evil

CodeTemplar:
the public project the debts were expended on, what are they producing in terms of revenue? Who are they serving?
Use that thing God credited you with - the brain.

GOD Almighty gave him good brain, but he exchanged it for folly in order to be an APC supporter and an Agbadorian.

tctrills:

Ok the gov is actually very holy. They give you some freedom of speech as long as you are hungry and poor. You are making sense. This is the best gov ever.
As long as you don't get arrested for typing on Nairaland then Tinubu is the greatest thing after sliced bread

You don't get it? Tinubu is his god!

Continue borrowing and stealing, na una normal way, tomorrow na crypto dey manipulate naira.

Amayabor1:


You have a point. In saner climes, Buhari would have been under investigation by now. His govt really did this country dirty.

But Tinubu has also not also fared better. What has Tinubu done with all the monies borrowed by his govt? If people actually see what is being done with these monies, they wouldn't have any problem with the borrowing. They should be transparent and tell us specifically what these funds are being used for.

They are looting this country dry.

As corrupt as Nigeria is, the assumption that everything in the country can be explained on the basis of "corruption" is simply wrong. There is no need to resort to fact-free accusations of "looting" when there are simpler, well-documented explanations at hand. By far the biggest drain on the government's coffers is the petrol subsidy which is back in full force.

https://www.nairaland.com/8088289/tinubus-reinstated-fuel-subsidy-drain

Add in the huge cost of the electricity subsidies and it's no wonder this government has to borrow to merely stay afloat.

helinues:


Engage without throwing tantrums.

No response for you because of that

NL must be changed until you guys start expressing yourself without attacking others

We can't be making our comments, Waka, see your comments Waka, but una dey always get issue with ours for no sensible reason.. Obidients to be precise

Next

Because you guys are senselessness in human form. Didn't you "sensible" ones support the mindless borrowings? Borrowings that were used to achieve nothing: squandered.

omohayek:

As corrupt as Nigeria is, the assumption that everything in the country can be explained on the basis of "corruption" is simply wrong. There is no need to resort to fact-free accusations of "looting" when there are simpler, well-documented explanations at hand. By far the biggest drain on the government's coffers is the petrol subsidy which is back in full force.

https://www.nairaland.com/8088289/tinubus-reinstated-fuel-subsidy-drain

Add in the huge cost of the electricity subsidies and it's no wonder this government has to borrow to merely stay afloat.

Yes, the subsidy is back.

The surprisng thing is now that debt service is eating 70% of our revenue. Before it was eating 90% as at August 2022, tinubu removed subsidy, it went down to 63%, now tinubu brought back subsidy it is 70% and rising.

The scary thing is that cost of producing fuel is going to push the petrol costs up.

The problem is, Nigerians want cheap things. God knows I wish it were possible, but the fact is people want to be paid, so prices go up. As does subsidy.

omohayek:

As corrupt as Nigeria is, the assumption that everything in the country can be explained on the basis of "corruption" is simply wrong. There is no need to resort to fact-free accusations of "looting" when there are simpler, well-documented explanations at hand. By far the biggest drain on the government's coffers is the petrol subsidy which is back in full force.

https://www.nairaland.com/8088289/tinubus-reinstated-fuel-subsidy-drain

Add in the huge cost of the electricity subsidies and it's no wonder this government has to borrow to merely stay afloat.

Subsidy is not really draining the funds. The thing is corruption. With every sincerity,

what is the quantity of fuel consumed in this country?

Do you know?

How much fuel is imported into this country?

Did the people to whom subsidy is/was paid truly import fuel and the quantity they were paid for?

With every sincerity, can you say that a good portion of the subsidy was not stolen?

Corruption is the number 1 thing bro.

helinues:


But majority of the serviced debt wasn't obtained by this government

True, but Tinubu's keeping subsides in power and petrol is making the matter worse.

That's why they both have to go totally. Yes, it means your master may lose in 2027, but yes, we get more money

omohayek:

As corrupt as Nigeria is, the assumption that everything in the country can be explained on the basis of "corruption" is simply wrong. There is no need to resort to fact-free accusations of "looting" when there are simpler, well-documented explanations at hand. By far the biggest drain on the government's coffers is the petrol subsidy which is back in full force.

https://www.nairaland.com/8088289/tinubus-reinstated-fuel-subsidy-drain

Add in the huge cost of the electricity subsidies and it's no wonder this government has to borrow to merely stay afloat.

spending N90Bn to stone devil proves that you are wrong. Add in what the states are giving them too and you see why the people will always deserve subsidy.
Corruption is so huge,it will be illogical to remove subsidy and boldly retain corruption just because it is hard to prove. For example, almost all governors will emerge as billionaires after their tenure with no backing investment or venture.

nairalanda1:


Yes, the subsidy is back.

The surprisng thing is now that debt service is eating 70% of our revenue. Before it was eating 90% as at August 2022, tinubu removed subsidy, it went down to 63%, now tinubu brought back subsidy it is 70% and rising.

The scary thing is that cost of producing fuel is going to push the petrol costs up.

The problem is, Nigerians want cheap things. God knows I wish it were possible, but the fact is people want to be paid, so prices go up. As does subsidy.

I don't want cheap things I just want to be carried along in the wastage spree going on. If the devil cost us N90b to be stoned, I desire subsidy.

CodeTemplar:
I don't want cheap things I just want to be carried along in the wastage spree going on. If the devil cost us N90b to be stoned, I desire subsidy.

I won't pay you below your production price if you were selling things you made. I will pay you at full price, so that you can make a profit, and use that profit to expand your business. It is not exploitaiton, it is economic sense.

nairalanda1:




I won't pay you below your production price if you were selling things you made. I will pay you at full price, so that you can make a profit, and use that profit to expand your business. It is not exploitaiton, it is economic sense.

Always reply to imaginative jinks. No one is forcing anyone to sell below production price. Govt buys from producer at profitable rate and sells at a loss to masses, better than going to stone a spirit in the desert with N90 Bn

CodeTemplar:
Always reply to imaginative jinks. No one is forcing anyone to sell below production price. Govt buys from producer at profitable rate and sells at a loss to masses, better than going to stone a spirit in the desert with N90 Bn

And it is that selling at a loss that is helping to drive off deficits....and thus debts.

I know we don't agree on this subsidy thing, but the problem is, we don't have enough money to sustain selling at a loss, and the associated mess like corruption.

As aptly put below

Defenders of the current subsidy regime are of the view that subsidy removal would cause inflation, as higher costs of production would be passed on to the final consumers. This is true. However, the increase in the average price level would be proportional to the share of fuel in overall costs of production or share in consumer expenditure. Hence, for the low fuel-intensive sector, the direct impact of higher fuel prices would be low. However, the extent to which the increase in price from higher fuel prices can be passed on to consumers would depend on the nature of the elasticity of demand and supply for the product.

However, what many people fail to appreciate is that the current subsidy regime also fuels current inflation through higher budget deficits that are financed through ways and means and other forms of public debts. Most economists are in agreement that budget deficits financed through ways and means are inflationary. Current data shows that 95 per cent of government revenue is spent on payments of interests on government debts. It follows, therefore, that nearly all non-debt recurrent expenditure is financed by debt, including fuel subsidy. This is inflationary

Sauce

Elusive001:




You don't get it? Tinubu is his god!

And they call us the enemies of Nigeria

mankan2k7:
What if Nigeria is the hell fire the bible described.

What if our successive leaders are the devils and his agent.


What if those of us in Nigeria are suffering from our offences we committed when we were living in America, Australia, Canada during our previous lifes and when we now died, God sentenced us to hell fire called Nigeria

What if the Europeans are living in heaven now.

All these thoughts in my head.

tctrills:

What do you expect. You expect it to be filled with happy people celebrating? Your evil gov has turned us all into enemies. Lock 10 men in a room and give them just a slice of bread and see if they don't turn to enemies.

A wise man once sang; “who go fit live in one love and harmony without money
See as people just dey shout poverty poverty
Money no dey my pocket,economy still dey dry
Even sef,me wey dey rap never chop 😂
One love to nigga raw,my brother from another region

helinues:


Again, talk about your present situation, don't use it to judge others.

We knew government don't put food on masses table, hence face our hustle, whatever government policy shall favour us IJN.

Nigeria is a capitalist country, riches are the priority, democracy is just another set of scam as USA proofed that to the world.

If 70% of Americans can be against the congress passing $8bn or so in foreign aids while there are millions of Americans homeless,yet the bill was passed , one of many, the. what such of democracy is that where the opinions of the masses do not matter .

It's time for Nigerians to accept the reality and stop blaming government about their woes, they have never cared, why waiting for miracle this time?

A friend always give excuse of no light, I asked him a simple question, back then when we were in the same street of Lagos hustling, was there stable light, he said no,so if decades after , you are still waiting for NEPA to bring light without you having alternative, then he must be the unserious one here not the Nepa

Oga Ade,you’re always in defense of trash,I’m allergic to your bullshit jare. Hypocrite

omohayek:

As corrupt as Nigeria is, the assumption that everything in the country can be explained on the basis of "corruption" is simply wrong. There is no need to resort to fact-free accusations of "looting" when there are simpler, well-documented explanations at hand. By far the biggest drain on the government's coffers is the petrol subsidy which is back in full force.

https://www.nairaland.com/8088289/tinubus-reinstated-fuel-subsidy-drain

Add in the huge cost of the electricity subsidies and it's no wonder this government has to borrow to merely stay afloat.

Did you say this when GEJ was president?

helinues:
Oh boy.

70%, that's too much now

When u were hailing GMB during his 8 years of failed leadership just to spite GEJ, u don see the result...
Unfortunately, this regime will keep on using most of its reserve to service debts and before u know it, 4 years don finish n nothing meaningful to show for it

Odotech:
This is the real truth. Dollar scarcity is not caused by the citizen but by the government. They love borrowing dollars forgetting they will need dollars to pay back. With 70% on loan repayment, businesses, politicians and citizen only has access to the remaining 30%

Very True 👍🏾👌🏾

helinues:


But majority of the serviced debt wasn't obtained by this government

Who obtained the debt?

tctrills:

And they call us the enemies of Nigeria

I have never a people that abhor their country like them. Imagine supporting Buhari, Rochas, Yahaya Bello, tinubu, Akpabio as senate president, chimaroke, Ikpeazụ, Ganduje, etc.

They are plain evil. They are shameless.

Franchise21:
Who obtained the debt?

Don't mind that im-p. He has forgotten the support he and his cohorts gave Buhari when he was borrowing recklessly.

helinues:


But majority of the serviced debt wasn't obtained by this government

Which government led Nigeria into unprecedented borrowing

helinues:


Again, talk about your present situation, don't use it to judge others.

We knew government don't put food on masses table, hence face our hustle, whatever government policy shall favour us IJN.

Nigeria is a capitalist country, riches are the priority, democracy is just another set of scam as USA proofed that to the world.

If 70% of Americans can be against the congress passing $8bn or so in foreign aids while there are millions of Americans homeless,yet the bill was passed , one of many, the. what such of democracy is that where the opinions of the masses do not matter .

It's time for Nigerians to accept the reality and stop blaming government about their woes, they have never cared, why waiting for miracle this time?

A friend always give excuse of no light, I asked him a simple question, back then when we were in the same street of Lagos hustling, was there stable light, he said no,so if decades after , you are still waiting for NEPA to bring light without you having alternative, then he must be the unserious one here not the Nepa

So you mean that the government should not take responsibility for anything?

Akwamkpuruamu:


So you mean that the government should not take responsibility for anything?

No waste your time on im-p-s. They do not have the brain capacity to reason or make good choices.