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Nairaland Forum / Nairaland / General / Politics / No Unnecessary Borrowing In This Government (800 Views)
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No Unnecessary Borrowing In This Government by helinues: 9:59am On Jun 30, 2023 |
His Excellency Tinubu started very well by first removing the subsidy, remove some service chiefs, sack most of the agencies and parastatals directors, other unnecessary subsidy payment have been cancelled. All this moves are to generate money internally without borrowing unnecessary. N400bn saved in a month for not paying subsidy, multiply that by 12 and see the ridiculous amount we havw been wasting in subsidizing petroleum products that half of it might not even makw it back to Nigeria. How come our neighbouring countries feeling the removal of subsidy more than Nigerians? 7 Likes 1 Share |
Re: No Unnecessary Borrowing In This Government by TemplarLandry: 10:01am On Jun 30, 2023 |
1 Like |
Re: No Unnecessary Borrowing In This Government by OneCandleAway(f): 10:04am On Jun 30, 2023 |
Seems you're being to the $500 million loan recently approved for us by the whites. 1 Like |
Re: No Unnecessary Borrowing In This Government by Olaoluwa122: 10:06am On Jun 30, 2023 |
helinues:Toor... so you are blind to the 500milliin$ already approved by world bank. 2 Likes |
Re: No Unnecessary Borrowing In This Government by TemplarLandry: 10:07am On Jun 30, 2023 |
Whites?? There's no human being with white skin. Only pink, brown, and so on. OneCandleAway: 4 Likes |
Re: No Unnecessary Borrowing In This Government by Georgry(m): 10:08am On Jun 30, 2023 |
If things continue like this people will start seeing Tinubu policies as anti people and they will revolt, how can you remove Fuel subsidy and float the Naira in just 2 weeks after inauguration which makes all the price of Basic things including food, transport and shelter go up but one month later no single form of palliative even if na to increase minimum wage? 1 Like |
Re: No Unnecessary Borrowing In This Government by OneCandleAway(f): 10:09am On Jun 30, 2023 |
TemplarLandry: We've both accepted the colour terms. Black is beautiful nothing to be ashamed about being black. We just need to use our brains more |
Re: No Unnecessary Borrowing In This Government by OneCandleAway(f): 10:11am On Jun 30, 2023 |
Georgry: If you've studied lagos, you should know overtaxation is expected with Tinubu. We as a people never learn. We'll vote tge wrong person and start praying to God, as if he didnt give us brains to use. |
Re: No Unnecessary Borrowing In This Government by TemplarLandry: 10:17am On Jun 30, 2023 |
No one is ashamed of the color black. It's about being truthful about the way things are. I never mentioned βblackβ in my previous comment by the way. OneCandleAway: 1 Like |
Re: No Unnecessary Borrowing In This Government by helinues: 10:27am On Jun 30, 2023 |
Olaoluwa122: Approved for women empowerment. Abi the money na for subsidy? 2 Likes |
Re: No Unnecessary Borrowing In This Government by helinues: 10:30am On Jun 30, 2023 |
Georgry: NLC and TUC have not gone on a strike for a reason. FG already explained how they are going to cushion the effects of the fuel subsidy removal. We need to generate money before putting out any palliative measure abi should still need to borrow money to do that? 4 Likes |
Re: No Unnecessary Borrowing In This Government by Aboks(m): 10:54am On Jun 30, 2023 |
Money wey dem wan share among themselves 1 Like 2 Shares |
Re: No Unnecessary Borrowing In This Government by Selenaoki9: 10:56am On Jun 30, 2023 |
1 Like |
Re: No Unnecessary Borrowing In This Government by Georgry(m): 11:06am On Jun 30, 2023 |
helinues: The NLC and TUC has obviously been crippled by the court judgement that ban them from going on strike until a judgement is passed, Governance is not only about revenue, you need to strike a balance. hungry people will not remember that you're building road or new infrastructure, all the policies of this new Government has made things even more difficult for the poor, at least something should be done to cushion the effect of the hardship, I'm not sure if there's any country in the world where their citizens doesn't enjoy one form of subsidy or palliative just to make life easier for the citizens. Since president Tinubu inauguration, subsidy was removed, Naira was floated, I'm hearing Education subsidy is gone, you're only taking from the poor, what do you intend to give back? Nothing? |
Re: No Unnecessary Borrowing In This Government by helinues: 11:07am On Jun 30, 2023 |
Georgry: Do you expect FG to borrow another loan to cushion the effects of the subsidy removal? 3 Likes |
Re: No Unnecessary Borrowing In This Government by helinues: 11:09am On Jun 30, 2023 |
Selenaoki9: Naira is already floated meaning it would be accepted as form of payment in some African countries. That will make naira to gain strength cos of high demand 3 Likes |
Re: No Unnecessary Borrowing In This Government by mrvitalis(m): 11:29am On Jun 30, 2023 |
helinues:N400 billion saved from where? This one is funny Nigeria was borrowing for subsidy... So how can you say u saved money u would have borrowed? Again I ask which school did you go to? Nigeria has to borrow, what is done with the borrowed funds is the Koko If u build roads, bridges, infrastructure with the borrowed money then Nigeria is finished 1 Like |
Re: No Unnecessary Borrowing In This Government by helinues: 11:34am On Jun 30, 2023 |
mrvitalis: Learned people should come forward. No time to waste time with half baked lots 3 Likes |
Re: No Unnecessary Borrowing In This Government by mrvitalis(m): 11:37am On Jun 30, 2023 |
helinues:Keep running, when u have no point keep running U need to at least read basic macro economics before u come here to talk about things bigger than you Save 400 ... Lmao 3 Likes |
Re: No Unnecessary Borrowing In This Government by helinues: 11:41am On Jun 30, 2023 |
mrvitalis: Must you always expose your ignorance about things all the time. Is it not monthly we normally pay for fuel subsidy after FG must have shared the revenues? So if FG stopped paying the subsidy, won't the money be saved and be used for something else. You Obi supporters don't only have little knowledge about politics, una knowledge about government is just too poor and shallow 4 Likes |
Re: No Unnecessary Borrowing In This Government by DatNiggaDaz: 11:44am On Jun 30, 2023 |
This man self, nawa o. Chai
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Re: No Unnecessary Borrowing In This Government by mrvitalis(m): 11:49am On Jun 30, 2023 |
helinues:Nigeria stop being able to afford subsidy about 3 years ago... We borrowed money to pay subsidy So you stop subsidy, you stop borrowing... You didn't save money you didn't borrow You can only save money you have but didn't spend? ... Not money u didn't borrow Don't know if you smart enough to understand |
Re: No Unnecessary Borrowing In This Government by helinues: 12:14pm On Jun 30, 2023 |
mrvitalis: Chai, imagine this Obi's supporters logic. You see why it's brain damaging engaging with you? Didn't GEJ also borrow loans to pay workers salary? Why didn't Buhari also borrow to pay workers salary through out his tenure? Even the loans that was borrowed to pay subsidy, was it the full money to pay subsidy was obtained through loans or just part of the money. Why should we even be borrowing loans to pay for fuel subsidy to start with. So had subsidy not been removed, so the N400bn saved last 1 month be used to pay tbw the ridiculous subsidy? Is the money not saved? That you guys havw resorted to be opposing any moves by the FG won't change nothing about the progress of Nigeria. Those who want to remain stuck can continue doing so. Forward ever Nigeria, backward never 2 Likes |
Re: No Unnecessary Borrowing In This Government by mrvitalis(m): 12:18pm On Jun 30, 2023 |
helinues:Buhari up used 96 percent of revenue to service debt so where is would he get money to pay salaries if not borrowing Especially ways and means from CBN that killed the naira Again which school did you go to |
Re: No Unnecessary Borrowing In This Government by helinues: 12:26pm On Jun 30, 2023 |
mrvitalis: How many times did Buhari borrow loans to pay workers salary compared to GEJ'S tenure even when the oil was above $100 per barrel? Buhari borrowed mostly for development projects not salary payment. Btw, where did you get your figure of Buhari using 96% of our revenue to service debt? Did you fabricate that from your mind? You are arguing as if you no go school at all. Imagine asking how can you save money from subsidy when you are not borrowing. Must you borrow before you save? You see why I said arguing with you is brain damaging 3 Likes 1 Share |
Re: No Unnecessary Borrowing In This Government by Treadway: 12:35pm On Jun 30, 2023 |
helinues:audio savings and empty propaganda as usual...lol. Not everyone has amnesia thankfully. Subsidy removal: Tinubu backs Buhari, Falana condemns price hike 13th May 2016 A former Lagos State Governor and National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has described the decision of the President Buhari-led Federal Government to remove petrol subsidy as courageous. The government, through the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Wednesday, announced the removal of the subsidy on petrol, pegging the upper limit at N145 per litre from N86.50k. In a statement in Lagos on Thursday, Tinubu said though the decision was a difficult one, it would ultimately become beneficial to the generality of the people instead of enriching the pockets of a few Nigerians, who enjoyed the fraud of the subsidy regime. https://punchng.com/subsidy-removal-tinubu-backs-buhari-falana-condemns-price-hike/?amp Osinbajo: Weβve saved N1.4trn by not paying fuel subsidy AUGUST 25, 2016 Vice President Yemi Osinbanjo says the federal government has saved N1.4 trillion for not paying oil subsidy. Speaking in Kano on Thursday during the third day of the 15th Joint Planning Board and National Council on development meeting, Osinbajo urged Nigerians not to lose faith in Buhariβs administration, saying the president would fix the economy. βWith the deregulation of the downstream petroleum sector, there has been a significant increase in the availability of petrol throughout the country for the savings of N1.4 trillion on subsidy payments alone,β Osinbajo said. https://www.thecable.ng/osinbajo-weve-saved-n1-4trillion-by-not-paying-fuel-subsidy/amp |
Re: No Unnecessary Borrowing In This Government by mrvitalis(m): 12:38pm On Jun 30, 2023 |
helinues:Lol which school did this boy go to abeck Oga nigeria as at today can't pay salaries without borrowing Our development servicing is 96% of our revenue... How can you pay salaries... Didn't you do maths? |
Re: No Unnecessary Borrowing In This Government by helinues: 12:41pm On Jun 30, 2023 |
mrvitalis: Stop asking about which school I attended as you are sounding as if you did not pass through school at all. Where and when did Nigeria use 96% of her revenue to service debt? Don't tell me you did not see the question. Tell us where you got your own figure from |
Re: No Unnecessary Borrowing In This Government by helinues: 12:47pm On Jun 30, 2023 |
mrvitalis: Still waiting for you to tell us where you got your own 96% which Nigeria is using to service debt. I wan put you for where you belong today once and for all so that you can find your mates to be Engaging with on this forum. 1 Like |
Re: No Unnecessary Borrowing In This Government by lastmessenger: 1:00pm On Jun 30, 2023 |
helinues:ogbeni I learnt this is you. Indeed suffering does not respect your political views. Pele
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Re: No Unnecessary Borrowing In This Government by helinues: 1:02pm On Jun 30, 2023 |
lastmessenger: Continue with your learnt about yourself. So na dem say dem say matter you dey carry for head like gala? 1 Like |
Re: No Unnecessary Borrowing In This Government by lastmessenger: 1:03pm On Jun 30, 2023 |
helinues:your suffering will be raised to the power 50 Mr ronu coconut head |
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