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Nairaland Forum / Nairaland / General / Politics / FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial (17609 Views)
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Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Benekkk: 9:47am On Feb 20 |
justmondris:You’ve said it all! 1 Like |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Dogalmighty17: 9:47am On Feb 20 |
Useless lots |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 9:47am On Feb 20 |
Didijiji: With a forex reserve of 4 billion and debt servicing eating 90% of our revenue, where is the money for subsides going to come from? Shey you want another loan.? Be there calling me dunce. Instead of facing your useless government that caused the above problem |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Chukwuka319(m): 9:50am On Feb 20 |
IMF is the greatest enemy of developing nations worldwide, and any of them that follows their Satanic policies will never cease having a river of crippling economic problems. Look at Zimbabwe in Southern Africa and the crippling economic problems it's facing,as a result of foolishly following IMF policies,step for step. |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by wirinet(m): 9:56am On Feb 20 |
nairalanda1:Borrowing does not put people or countries in trouble, in fact most successful people and countries borrow heavily. Its the use to which the loan is put that can cause trouble. If fuel subsidy can cause an increase in productive capacity and thus increase in economic capacity, then the government would reap the rewards in increased taxes and socio economic stability. 1 Like |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Agbegbaorogboye: 9:57am On Feb 20 |
nairalanda1:Are we not already in trouble? The Venezuela you guys used to threaten us, their currency has more value than its likely ours now. Your subsidy removal has made the country worse. At least be honest enough with yourself to admit that |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by RepoMan007: 9:59am On Feb 20 |
nairalanda1:No money for subsidy but we never lack money for extreme luxury. |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by cornelman: 10:00am On Feb 20 |
nairalanda1: Who incurred the debts? Useless APC. All of you were applauding the fool when he was getting loans to construct non functional railways and sold yet to be explored crude oil. Instead of the unfortunate one to invest in human development and tackle insecurity, he was sharing money to corrupt APC and many hungry fools were here defending failure, including this mistake of a president. We are here today because many Nigerians don't think. They just support with emotion and sentiments. They choose ethnicity and religion and party affiliation over people's antecedents and qualities. Until Nigerians can have independent and clear thinking and stand where they ought to, nothing will work. Peace 1 Like 1 Share |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:00am On Feb 20 |
Agbegbaorogboye: Never did deny we are in trouble. Infact we have been in trouble ever since we made oil our sole earner decades ago. Infact what differentiates us from Venezuela is that we don't import or subsidise as much as they do Any resource dependent country is basically in trobule. That has always been my ultimate point. You cannot have 80 percent of government income from a commodity whose price is volatile. Especially one like oil which one former Venezuelan oil minister called 'the devil's excrement,' If Nigeria does not take steps to become industrialized, forget about economic stability |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:02am On Feb 20 |
cornelman: You might want to read the rest of my comments on this thread, good sir. |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by benuejosh: 10:02am On Feb 20 |
malali:so bold of you to assume. |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:02am On Feb 20 |
RepoMan007: Yeah which is why I never have voted for apc . It's the same show, whoever is in charge. |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:04am On Feb 20 |
wirinet: I doubt we are in a position to get a loan sans conditions. At the end, this government and it's predecessor never ever did diversify. Here we are. |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by ComeToJesus: 10:05am On Feb 20 |
Me, I don't pity Nigerians again, I only pity Nigeria. From my experience, Nigerians are always in bed with their oppressors. Even in the heat of this nail biting hunger and starvation in Nigeria, if another election is conducted, the insufferable 'fuuls' will still vote with their hearts, instaed of voting with their heads. On a good day, the APC shouldn't even win a councillor seat anywhere, going by the damage Mr Buhary did to Nigeria. Let's ride with it. Titi Baba, on your mandate Baba 1 Like
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Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Agbegbaorogboye: 10:07am On Feb 20 |
nairalanda1:So how do you stop being resource dependent if you don't supply the basic necessities? There are several resource dependent countries that are doing well. Saudi is one. Qatar is another, so is UAE and Singapore. Again, if the govt can't make living and doing business easier within its domain, what exactly is it useful for? Give me your idea of an ideal govt 3 Likes |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Spray(m): 10:09am On Feb 20 |
nairalanda1: The money from subsidy removal how has it being used? |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Agbegbaorogboye: 10:10am On Feb 20 |
nairalanda1:How do we diversify? Let's assume a cyclone kicks Tinubu out of the presidential seat and puts you there. Which would you do first? 1 Like |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:10am On Feb 20 |
Agbegbaorogboye: How do you supply the basic necessities with us being at 4 billion in the reserves , and debt servicing eating 90 percent of our revenue, a corrupt government and a corrupt opposition and a budget that is going to fail.? Best we listen to the IMF now. Because we are at their mercy. The milk has been spilt and yes it is all apc fault, but it don't change the fact the milk has been spilt 1 Like 1 Share |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:10am On Feb 20 |
Spray: Ask your government |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:12am On Feb 20 |
Agbegbaorogboye: Am about to log off as my time is limited, but there are two articles that can be read 1. Pass the books, hold the oil 2. Field ruwe's. African intellectual scum. |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by zeyt: 10:13am On Feb 20 |
Imagine IMP dictating economic policies to Nigeria just for the sake of accessing loan. This enslavement of our economy. I wonder IMP know more about what need to be done more than the FG. For any economic process or policy to succeed data is the key. But in Nigeria we don't know how many we are, that less of age categorization information or accurate unemployment record. Number of Nigerians who own what. Or even birth or death rate. No accurate data of any kind is a available. But still IMP will Nigeria what to do or not to do. 1 Like |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by amnesty7: 10:23am On Feb 20 |
These devils really got a docile guy in Tinubu. |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Agbegbaorogboye: 10:25am On Feb 20 |
nairalanda1:Quit the crap. Tell us your ideas about how to achieve diversification It's easy to mouth manufacturing, industrialised etc Tell us how to get there 1 Like |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by amnesty7: 10:27am On Feb 20 |
They dealt with us during slave trade, during colonialism, through the current self-transportation of slaves i.e Japa, still they want to finish our purchasing power again |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Agbegbaorogboye: 10:28am On Feb 20 |
nairalanda1:You supply basic necessities by investing in your people IMF does not believe that. IMF thinks the people must be punished for failure of govt |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:28am On Feb 20 |
Agbegbaorogboye: Remove subsides to attract investment in the power and petroleum sector Incentivise manufacturing with tax breaks and preferential treatment for forex Incentivise large scale commercial farming Fight corruption. Aggressively fight corruption Increased funding for vocational and technical education CBN to raise interest rates Security. 1 Like |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:29am On Feb 20 |
Agbegbaorogboye: With an almost empty foreign reserve and with debt servicing eating too much of your revenue Okay, take another loan it is. Like I said, we are in deep deep shit..IMF right now is basically our master and mistress. All in all, rely on oil, this is how it ends |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Agbegbaorogboye: 10:36am On Feb 20 |
nairalanda1:If your foreign reserve is empty, how do you get it back up? How did OBJ take the reserve from less than 5bn to 28bn and extra 5bn in excess crude acct? |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:42am On Feb 20 |
Agbegbaorogboye: Oil price increases. Plus some debt relief We don't have those advantages now, so we have to improve tax to GDP ratio ( at 10 percent it is too low for a nation out size), and also find alternative sources of income. Diversification. And even then eventually we do what the strong nations do. Industrialized and export manufactured goods and services |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Agbegbaorogboye: 10:42am On Feb 20 |
nairalanda1:Subsidy was removed in petroleum sector at least for six months last year. Can you show me the investments that attracted? Tax breaks for manufacturing that does not exist? How will tax break reduce the cost of doing business? Forex preference was tried under Buhari but led to round-tripping Oh good one on mechanised farming. But how will a poor farmer afford those expensive machines and the cost of running them with subsidy removed. Fight corruption. Good one. I thought you're of the opinion it changes nothing Another good one on education. Though I remember you advocate for jacking up fees to American colleges level If you raise interest rates and you give tax breaks, you have done nothing 28% interest rates does not make for good business environment and it will lead to further illiquidity Ah. Security! But when you pauperise more people with subsidy removal, insecurity will increase 1 Like 1 Share |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by Pending: 10:42am On Feb 20 |
U09ce: The IMF is not wrong. But they missed the fact that we have looters as leaders. What we have as a problem is the fact that every savings to be made from such policies will be looted |
Re: FG, Resist IMF’s Deadly Pills! - Daily Trust Editorial by nairalanda1(m): 10:44am On Feb 20 |
Agbegbaorogboye: Subsidy has not gone. Never did go. And it is still there on power. Deregulation is the answer. Other African countries like us have light 24/7 because they pay far higher than we do, and yes I checked. Obasanjo you admire did not control prices of GSM. See how his wise decision has made it grow. And yes back then they told him he was making poor Nigerians suffer 1 Like |
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