Hmm

I said it before that Nigeria is a poor country. How can a country that has so much mineral resources be so poor to the extent governors can't pay it's workers

Ojuntana:

This is not what is usually reported by NBS though

Yes that's dollar earnings that pass through CBN

The oil companies earning is counted also

But FG earnings is different from Nigerians earnings don't know how to explain it to u

Is that why you guys keep brazenly and mercilessly looting the hell out of our commonwealth?

Polithiefians made the country to be poor

dalongjnr:
Very funny sets of criminal-some entities.
Nigeria with an average crude oil production of 1,300,000 barrels per day,and at a price of about $89 per barrel, by 364 days a year,is making nothing less than $42 billion per year(excluding royalties).
FIRS is now saying that non oil revenue is now more than 50% of what's shared at FAAC.
Going by those data,Nigeria makes nothing less than $100 billion per year even with the level of corruption in the oil and revenue sector,mostly as a result of under disclosure and under remittances by the collection agencies.
These people just amazed me with their caricature submission.
They just want to increase tax again even with the biting economic hardship.
They are taking the masses for granted, what's happening in Kenya is a child's play the day the masses will wakeup.

Nigeria isn’t able to sell its crude oil daily but I agree with the you, we are being taken for a ride

ibabz:


We are a poor country because this useless party destroyed every little gain we recorded during PDP.

I think the problem of Nigeria is not PARTY (APC, PDP, LP, ANPP etc) rather systematic corruption, fuelled by greed and defended by religion bigotry and tribalism

Naigeria is not a poor country, Tifnubu's useless government have started brainwashing Naigerians with these lies. They start comparing with other countries when they want to divert attentions from their looting, bad governance,policies and fraudulent activities, naira has become almost worthless, they have tried all manners of unworkable policies. From chasing after currency exchange traders, arresting and holding a binance staff to changing the national anttem. Yet the things are getting worst.


Now, there new propaganda is Naigeria is a poor country that has the potential to be wealthy, Pontential?

I have noticed that the owner of this site or forum or whatever you want to call it loves anything that's tribalistic. What's hard in censoring anyone that starts insulting other tribes irrespective of the topic on ground? It's like he loves it when different tribes have at it.

NzogbuNzogbu:
It's always a poor country when una don enter and start to loot

But it's a rich country that need una help when una dey find the position to loot

21billion for renovation, 287million to change tyre, how many billions for yatch and jets now, you failures should resign and stop giving foolish excuses for tinubu incompetence

you sabi them wella

Yet non of those rich countries build 21b house for VP or buy jeep for senators

Foolish lunatics if Tinubu did not not devalue naira Nigeria budget will be double that of Kenya yet nothing was achieved.

But you lots made it so

Tax rate in Nigeria is next to zero. If Nigeria implements tax policies like those countries, it will be much richer. Our leaders have failed to move this country forward.

Pathetic

Xxxxtentacion2:
Poor country with wealthy thieves...

That's the elephant in the room no one wants to address because it will touch his or her political benefactor.

Until this crime of corruption and looting or resources is addressed nothing will change

A poor country that's about to buy a presidential jet at the request of amoda the fraud lunatic president

dalongjnr:

I know of the cost of production and a also know of the under declaration by the production companies.
Put two on two,and we will still end up with the figure I quoted.
The question now, should be, what happened to the non oil revenue which constitute almost 50% of the revenue shared at FAAC,despite the under declaration by the collection agencies and also corruption been displayed?

Guy, you no sabi. FG through NNPC owns only about 55% of the crude based on it's equity where in most joint ventures. Which silly under declaration? We always like to point the finger at others for our problems

Nigeria is not a Poor Country. Nigeria is a Poorly Managed Country.

Compound bullocks for Brainless buffoons!💯💯💯

The doomed contraption has been looted blind by a bunch of self serving THIEVES masquerading as leaders! 💯💯💯

# àwon ole, jegudu jera gbogbo!
Your long overdue WATERLOO is imminent 📢📢📢📢

It is not that we're poor,it's just that we're too much in this country.

Lagos population alone is more than 100 million not to talk of other states.

STEWpid:
Chai..




Let the poor breathe, but there are billions of dollars in their individual accounts.

😂😂😂😂😂

If that is the case..Then why compare yourself to other countries??

Why not do what is obviously right, without being foolishly mischievous?

Useless charlatan..

Buccalcavity2:

Stfu and focus on the thread. What line of expenditure did you see in the write up?
You can open a thread for expenditure. Dundee!

Killerofpigs:
Poor Country..??

Why do appointees of APC always look for similar failures to justify their shamelessness?
Why can't you envision and work towards being like great economies?

Why compare yourself with a NON oil producing Country like Kenya. ? Why not compare yourself with fellow OPEc members like UAE?


After all the sponsored protest and NADECO scam. The whole world has seen the pathetic way South West Region is administered.

TINUBU represents the best of SW and he is worthless.

Very shameless and pathetic.

Werey so you call South Africa failure or New Jersey

Nigeria economy only exports crude oil. Rich oil economies export refined petroleum products.
They don't just sell crude oil, the increase the net worth of crude oil by refining using refineries and expertise.
In the end they produce the same finished product without any external value added.

This is called sufficiency.
Nigeria is not sufficient.

It sells raw cocoa but runs out to buy chocolate.

mrvitalis:

Yes that's dollar earnings that pass through CBN

The oil companies earning is counted also

But FG earnings is different from Nigerians earnings don't know how to explain it to u

Oil companies earning also pass through CBN?

You already explained away $37bn in your previous post. What are you looking to explain again?

That’s what they’re good at….always stating the bleeding obvious! From as long as i can remember, Nigeria has been talking and analysing while other countries have moved on from talking to actually doing something!

alright o

see

https://www.youtube.com/watch?v=d6OiNyaOYo0

treesun:


https://dailytrust.com/nigeria-a-poor-country-presidential-committee/

senseless analysis, poor country or rogues as leaders...

If Nigeria is poor or facing hard times, how then can we fund elephant projects such as the coastal road? We are not saying it is bad, but is it Eg when you are personally in debt, as in you owe the bank and several people, your business is slow, you then borrow money and use it to build a brand new office complex or your residential house? Or rather you cut your expenses, stop new projects temporary, nurse your business gradually to fitness, then when out of the red, and into green, you then build your home or office complex out of your profit. Even if you have to take loans, you the can, as your profits will service the loans.
This is the problem of Nigeria, we are ruled by people like that your paddy that can never manage his finances. You both earn the same salary in same office, but his money is always never enough. He Likes "big big" things. Lives beyond his means.

Not necessarily. What it shows is that in reality, Nigeria is a country on auto-pilot. It is a country that will do well with or without the government. The hardworking citizens private–not the government–are the main drivers of Nigeria's wealth and economy. In reality, what this shows is that in spite of the huge size of our government, they are not effective or even destined to meet the day-to-day needs of the country. You and I know that more than half of the $30 Billion budget will be embezzled and the rest will be spent on frivolities. The government does not care about creating basic infrastructure, so why will they budget that Hughe amount for those? Moreover, the revenue Nigeria generates from taxes, import duties, exports are stolen and do not add to our national assets.
In summary, Nigeria is not poor. Nigeria rather does not care about responsible governance that is responsive to the needs of the citizens. Hence, the tiny budget.