Kukutente23:

Deng, Park and Kwam will kill all our looters and ensure their loots are confiscated to govt to start with
Why do you love to defend corruption though

Exactly. AND they would put us on the path to being a lender.

That's why I want them...I want our corrupt leaders dead, and I want us to stop borrowing, and become a manufacturer of goods and services.

But you want us to borrow more. I understand you.

Kukutente23:

Deng, Park and Kwam will kill all our looters and ensure their loots are confiscated to govt to start with
Why do you love to defend corruption though

gbam! You dey press the neck well o my brother...covering all bases.

Na man you be jare💯💯💯

Treadway:
gbam! You dey press the neck well o my brother...covering all bases.

Na man you be jare💯💯💯

I understand both of you, let's keep borrowing....that is what you want.

And yes, it is good he is pressing my neck. I am not in this site to be loved or to be popular. Many people who were unpopular were proven right eventually. I despise rude people though.

nairalanda1:


I understand both of you, let's keep borrowing....that is what you want.

And yes, it is good he is pressing my neck. I am not in this site to be loved or to be popular. Many people who were unpopular were proven right eventually. I despise rude people though.

yea, I despise silly nonsense too

Like basically advocating for an implosion, as the SOLE solution

Or a time when we would have only one fuel station dispensing fuel per state cos everyone else can't even afford to buy one tanker. When was the last time you bought fuel without queueing?

Or a time when everyone will be either be hungry or dead....all to.please you and your hogwash theory.

I know your type. You no fit do business. You would fail so miserably...cos you dey follow theory. Ask Ibeokehie, he came to do business in Nigeria when it was booming sef, and still failed miserably and ran back to the US and is now a heckler online, cos he was also using textbook theory. Problem is, textbook theories don't work here, commonsense does.

Lol. You no get solution to this problem., Rest

As I've always maintained, remove the subsidy, defend the naira till at least one or two refineries come on stream, this keeping things controlled, and not spiralling out of control as has now happened. All of this shi we're going through now, was totally avoidable with just a lil dose of commonsense,which clearly isn't common

https://www.nairaland.com/8017949/how-nigeria-people-govt-got

Treadway:
yea, I despise silly nonsense too

Like basically advocating for an implosion

Or a time when we would have only one fuel station dispensing fuel per state cos everyone else can't even afford to buy one tanker. When was the last time you bought fuel without queueing?

Or a time when everyone will be either be hungry or dead....all to.pleaee you and your hogwash theory.

I know your type. You no fit do business. You would fail so miserably...cos you dey follow theory. Ask Ibeokehie, he came to do business in Nigeria when it was booming sef, and still failed miserably and ran back to the US and is now a heckler online, cos he was also using textbook theory. Problem is, textbook theories don't work here, commonsense does.

Lol. You no get solution to this problem., Rest

SO, as you said, let us borrow to keep funding subsides.

Just like all your heroes from tafawa to tinubu have done.

Good boy.

Asfor ,me, ...realite.

Treadway:
gbam! You dey press the neck well o my brother...covering all bases.

Na man you be jare💯💯💯

Don't mind the agbado hustler
He's even more confused than I thought
Referencing Taiwan...

nairalanda1:


Exactly. AND they would put us on the path to being a lender.

That's why I want them...I want our corrupt leaders dead, and I want us to stop borrowing, and become a manufacturer of goods and services.

But you want us to borrow more. I understand you.

How can you want our corrupt leaders dead when you're making excuses for them

Stop hiding your corn broda

Nobody will beat you

Kukutente23:

How can you want our corrupt leaders dead when you're making excuses for them

Stop hiding your corn broda

Nobody will beat you

No, let us borrow. I got you. Calm down.

nairalanda1:


No, let us borrow. I got you. Calm down.

Rest

Kukutente23:

How can you want our corrupt leaders dead when you're making excuses for them

Stop hiding your corn broda

Nobody will beat you

Stop pretending you don't want us to borrow to maintain the naira.

I get you.

Thank God for Google, the way some of you tell lies with a straight face is alarming.
These kinds of lies are better said at newspaper stand where few people have time to crosscheck your data.
Nigeria has an inflation rate of 32.5% and you can see how bad it is, Argentina has a profit of 209%, you can now imagine how it must be for them.

The annual Inflation Rate in Argentina jumped by 209% in September, marking the fifth month of disinflation and the year's softest increase, slowing from 236.7% in August and broadly in line with forecasts.

LadyExcellency:
Economic policies are unique to each country and there is no global formula for finding a solution to them.

Argentina was worse than Nigeria when both Bola Ahmed Tinubu and Javier Gerardo Milei were elected. Argentina shunned, blasted, and repudiated the IMF and World Bank and is doing the opposite of what these agencies suggested and today, Argentina is back on track while Nigeria is the worst of any emerging economy.

Naralanda1 is a potentially wicked politician. You don't pull down a house you were called to amend and leave everyone at the mercy of the weather and illnesses just because you want to build a new house. That's plain wickedness.

Kukutente23:

Rest

You want us to borrow more.

It's not shameful to admit. The problem is, it has been tried, and it has made things worse, and it even contributes to the corruptiuon you and i hate.

But no problem, it;s your opinion

Good lad.

Treadway:
yea, I despise silly nonsense too

Like basically advocating for an implosion, as the SOLE solution

Or a time when we would have only one fuel station dispensing fuel per state cos everyone else can't even afford to buy one tanker. When was the last time you bought fuel without queueing?

Or a time when everyone will be either be hungry or dead....all to.pleaee you and your hogwash theory.

I know your type. You no fit do business. You would fail so miserably...cos you dey follow theory. Ask Ibeokehie, he came to do business in Nigeria when it was booming sef, and still failed miserably and ran back to the US and is now a heckler online, cos he was also using textbook theory. Problem is, textbook theories don't work here, commonsense does.

Lol. You no get solution to this problem., Rest

Because you earn 15 million per year in Nigeria you're a success 🙌

You campaigned and voted for Buhari, that shows how intelligent you are.

Oga 15 Milla we don hear.

Good Luck to Nigeria

nairalanda1:


You want us to borrow more.

It's not shameful to admit. The problem is, it has been tried, and it has made things worse, and it even contributes to the corruptiuon you and i hate.

But no problem, it;s your opinion

Good lad.

It's time to ignore such unreasonable people. They will never understand. They simply don't know any better. I'm certainly gonna try.

As of now I hope President Tinubu will restore FULL subsidies on fuel, electricity and forex. So Nigerians can enjoy their country.

Over and Out.

Good Luck to Nigerians.

IbeOkehie:


Because you earn 15 million per year in Nigeria you're a success 🙌

You campaigned and voted for Buhari, that shows how intelligent you are.

Oga 15 Milla we don hear.

Good Luck to Nigeria

lol. I know say e small, and i'm very grateful for it.

Why aren't you yet a millionaire in dollars in the most prosperous country in the world after over 4 decades? Look inwards and tap into more inner greatness sir....you have the knowledge afterall..

Wetin remain na the know-how.

Knowledge is one thing, know-how is another.

Nairalanda1, the difference between knowledge and know-how is that commonsense I have been talking about. A mix of an understanding of the uniqueness and nuance of experience and experiences

nairalanda1:


You want us to borrow more.

It's not shameful to admit. The problem is, it has been tried, and it has made things worse, and it even contributes to the corruptiuon you and i hate.

But no problem, it;s your opinion

Good lad.

You're blaming borrowing for the corruption of our politicians now
Yet you claim you're not defending them
Is Nigeria the only country that borrows
How come other countries don't experience this corruption that comes as a result of borrowing?

Treadway:
lol. I know say e small, but it's still more than 15mila bros.and I'm very grateful for it.

Why aren't you yet a millionaire in dollars in the most prosperous country in the world after over 4 decades? Look inwards and tap into more inner greatness sir....you have the knowledge afterall..

Wetin remain na the know-how.

Knowledge is one thing, know-how is another.

Nairalanda1, the difference between knowledge and know-how is that commonsense I have been talking about. A mix of an understanding of the uniqueness and nuance of experience and experiences

You need to realize that everyone who does not share your views supports oppression.

The reason why I oppose subsidy is simple. TO pay for subsidy for petrol for this year, so that it can cost N200....it would have cost our budget something like 17-20 trillion naira.

(And note that it won't stop smuggling. Every country I know that has a subsidy has smuggling...that means millions of losses.)

So, imagine spending 17 trilluion even something like 12 trillion...which was the estimated cost of subsidy for 2023, assuming PIA did not take effect.....that means a huge hole is in our budget...which would be filled with loans.

Add the fact that by August 2022, we were spending 90% of our revenue on loans and more loans payment. Revenue for next year's budget.

So, if we did as you want, we would be a year from now, out of money totally, and the IMF would not borrow us any more. The kind of anarchy that would result eh?

But you, Kukutenla, Lexy2014, LadyExcellency, Kukutente, Deepsight, SIlasGreenback, and a host of others do not see it that way, so, I leave you to your ideas.

This is the internet. Everybody is right after all.

I take my leave.

Good night, and enjoy the borrowing.

nairalanda1:



You need to realize that everyone who does not share your views supports oppression.

The reason why I oppose subsidy is simple. TO pay for subsidy for petrol for this year, so that it can cost N200....it would have cost our budget something like 17-20 trillion naira.

(And note that it won't stop smuggling. Every country I know that has a subsidy has smuggling...that means millions of losses.)

So, imagine spending 17 trilluion even something like 12 trillion...which was the estimated cost of subsidy for 2023, assuming PIA did not take effect.....that means a huge hole is in our budget...which would be filled with loans.

Add the fact that by August 2022, we were spending 90% of our revenue on loans and more loans payment. Revenue for next year's budget.

So, if we did as you want, we would be a year from now, out of money totally, and the IMF would not borrow us any more. The kind of anarchy that would result eh?

But you, Kukutenla, Lexy2014, LadyExcellency, Kukutente, Deepsight, SIlasGreenback, and a host of others do not see it that way, so, I leave you to your ideas.

This is the internet. Everybody is right after all.

I take my leave.

Good night, and enjoy the borrowing.

The simple problem is how you spend so much time with statistics and discountenance corruption in everything. I have said it a billion times - Even if petrol is made 10k per litre and the dollar 10k naira to the dollar, nothing will improve in Nigeria because every dime gained will be stolen. And this is the elephant in the room you discountenance. That's why you are wasting your time with these figures.

SilasGreenback:


The simple problem is how you spend so much time with statistics and discountenance corruption in everything. I have said it a billion times - Even if petrol is made 10k per litre and the dollar 10k naira to the dollar, nothing will improve in Nigeria because every dime gained will be stolen. And this is the elephant in the room you discountenance. That's why you are wasting your time with these figures.

Keep at it , Baron. You might catch Danger Mouse yet.

nairalanda1:


Keep at it , Baron. You might catch Danger Mouse yet.

Thats the problem with you. You think making comedy of serious issues makes them go away. You can ignore the counterpoint all you like and write as many numbers as you want. The Elephant remains in the room.

Not once have I ever seen your likes give a serious studied response to the corruption question.
But if it is to send 100 comic messages to make a joke of the question, that one you are able.

Go and rest jaare.

Kukutente23:
A corny afternoon to the corn hustler.
I intend to make some quick corrections but first let me tell you what corruption which you so easily dismiss in favour of some phantom economic theory has done to Nigeria. According to a research by Chatham House in 2019, $582bn has been stolen from Nigeria since we got independence in 1960. Let that sink in, 2019. Now we know that corruption is an ongoing enterprise in Nigeria so you can imagine what the figures will look like if we update it to September 2024. Now if that 2019 figure was to be invested in a sovereign wealth fund as countries with natural resources and leaders who have love for country usually do, Nigeria will be number 4 on the list of countries with SWFs after Norway, UAE and China as at 2019. Just imagine having a SWF in 2019 that's yielding just 6.5% interest p.a. That will imply that as at 2019, Nigeria will make a cool $3.25bn from the SWF returns which will translate to N1.5trn as at the going official exchange rate then. How much did you say we need for power again? N17trn? That means by now 2024, if we use the present exchange rate, we will have N5.2trn we can invest into our power sector. This means by 2027, we would have completed the 17trn without breaking a sweat or needing any economic grammar!! Let that sink in. That's what corruption has done and is doing to our country Nigeria!!

Now for the corrections,
1. Nigeria is not the only nation that subsidizes health and education. Almost every nation does it. In fact, that's why japa is so alluring. When you become a UK resident, your kids can go to school up to high school without you having to pay a penny for quality education. Same applies in the USA. The UK has the NHS while the US has Obamacare

2. Energy subsidy is a leveler. One factor of production that's never mentioned in Adams Smith's theory but which is very critical is energy. Energy determines how much technological input you can employ in your business and by extension impacts the cost of doing business and output efficency. High energy costs translate to high business costs. A lot of big business have exited the Nigerian scene due to devaluation which led to high input cost for them in the last year. How much more small business? A good number of grocery stores are packing up. Just look around and you'll see. So how is your govt expected to generate more revenue from tax when businesses are folding up? Is it PIT you're banking on? Really?

3. Nigeria based on present statistics is earning a lot more income from non- oil sources than oil. Taxes and other sources have exceeded oil income since 2021. The edge oil income still holds its that it is the main source of dollars. Now if the non-oil income has exceeded oil income, and our exports have exceeded imports since 2022 as well, basic economics tells us that Nigeria should be having a favorable trade balance and an uptick in currency value as well as more money for government to spend on social services. But here in Nigeria, it is shocking that the reverse is the case!! You may ask why? Let me help you. Our first lady donated the sum of N1bn to her alma mater a few weeks back. In a sane country, that should set alarm bells ringing at our IRS. Her tax records should be under the microscope now to see if she has been making filings and returns commensurate to such earnings. Secondly, it was reported that she had spent a whopping 700m to "buy" dollars for her foreign trips. That's just her o. We have not heard about others like governors and senators etc etc. You see how mismanagement of our resources is killing us?

Tend to your corn. Don't let it burn. You can come back and reply later.

Treadway DeepSight lexy2014

GBAM.
Thank you so very very very much for this.

The problem with these fellas is they just dont understand what corruption in Nigeria is. Neither do they appreciate that one hundred years of IMF policies will not move the needle an inch and that any so called saving will be converted into a goal in the pockets of politicians with the dexterity with which Zidane did his bicycle kick goal against Leverkusen in the Champions League Final.

[PS/ This is DeepSight]

Treadway:
The subsidies cost the so called 40 trillion cos they abandoned common sense and devalued the naira. First maalu Buhari and now this clown.

Obasanjo paid subsidy
Jonathan paid subsidy
Yaradua paid subsidy

Nigeria didn't collapse.

Jonathan left debt that the so called subsidy removers have multiplied x4.

Tinubu supposedly removed subsidy and in one year has increased the domestic debt by over 45trillion naira and the foreign debt by around $20b.. my explanation for that is simple. CORRUPTION, but OP no feel say corruption na front burner issue, na only subsidy removal be the Koko... paragraphs upon paragraph on one message and that message only.

We dey here dey watch😁

GBAM!

nairalanda1:



You need to realize that everyone who does not share your views supports oppression.

The reason why I oppose subsidy is simple. TO pay for subsidy for petrol for this year, so that it can cost N200....it would have cost our budget something like 17-20 trillion naira.

(And note that it won't stop smuggling. Every country I know that has a subsidy has smuggling...that means millions of losses.)

So, imagine spending 17 trilluion even something like 12 trillion...which was the estimated cost of subsidy for 2023, assuming PIA did not take effect.....that means a huge hole is in our budget...which would be filled with loans.

Add the fact that by August 2022, we were spending 90% of our revenue on loans and more loans payment. Revenue for next year's budget.

So, if we did as you want, we would be a year from now, out of money totally, and the IMF would not borrow us any more. The kind of anarchy that would result eh?

But you, Kukutenla, Lexy2014, LadyExcellency, Kukutente, Deepsight, SIlasGreenback, and a host of others do not see it that way, so, I leave you to your ideas.

This is the internet. Everybody is right after all.

I take my leave.

Good night, and enjoy the borrowing.

200 is all in YOUR head. You are the only one talking 200 naira here. If naira wasnt turned to tissue paper, fuel would be around 500 now, and all hell won't have been let loose.

You are the one masturbating on 200 naira in every post, meanwhile it is all in your imagination

Treadway:
200 is all in YOUR head. You are the only one talking 200 naira here. If naira wasnt turned to tissue paper, fuel would be around 500 now, and all hell won't have been let loose.

You are the one masturbating on 200 naialra in every post, meanwhile it is all on your imagination

He likes to make a caricature of everything.
Everything you have said is perfectly sensible.

When you see that they like to make a caricature of serious points, its an indicator that they are not merely engaging in intellectual discussion. It is an indicator that they are paid.

SilasGreenback:


Thats the problem with you. You think making comedy of serious issues makes them go away. You can ignore the counterpoint all you like and write as many numbers as you want. The Elephant remains in the room.

Not once have I ever seen your likes give a serious studied response to the corruption question.
But if it is to send 100 comic messages to make a joke of the question, that one you are able.

Go and rest jaare.

Good luck in catching Danger Mouse and Penfold, Baron.

By the way Baron, could you come and help us deal with some corrupt people in power in Nigeria...

nairalanda1:


Good luck in catching Danger Mouse and Penfold, Baron.

By the way Baron, could you come and help us deal with some corrupt people in power in Nigeria...

Ignoring critical points and making jokes does not make them go away. This point here by Treadway was a knockout punch, and as typical you have been silent on it -

Treadway:
The subsidies cost the so called 40 trillion cos they abandoned common sense and devalued the naira. First maalu Buhari and now this clown.

Obasanjo paid subsidy
Jonathan paid subsidy
Yaradua paid subsidy

Nigeria didn't collapse.

Jonathan left debt that the so called subsidy removers have multiplied x4.

Tinubu supposedly removed subsidy and in one year has increased the domestic debt by over 45trillion naira and the foreign debt by around $20b.. my explanation for that is simple. CORRUPTION, but OP no feel say corruption na front burner issue, na only subsidy removal be the Koko... paragraphs upon paragraph on one message and that message only.

We dey here dey watch😁

Let me extract a single line that you need to grapple with -

Jonathan left debt that the so called subsidy removers have multiplied x4.

Tell me how this happened? How come removing subsidy is increasing the debt?

You and I, and we all to a man know the answer.

SilasGreenback:


Ignoring critical points and making jokes does not make them go away. This point here by Treadway was a knockout punch, and as typical you have been silent on it -



Let me extract a single line that you need to grapple with -

Jonathan left debt that the so called subsidy removers have multiplied x4.

Tell me how this happened? How come removing subsidy is increasing the debt?

You and I, and we all to a man know the answer.

Baron you can catch Danger Mouse. All you need to do is to put a large bit of Rouchefort cheese on Baker street laced with formula 12 which when that dastardly mouse eats it, he will become your willing slave .

Just do it Baron, and DM would be in your pocket forever

IbeOkehie:


It's time to ignore such unreasonable people. They will never understand. They simply don't know any better. I'm certainly gonna try.

As of now I hope President Tinubu will restore FULL subsidies on fuel, electricity and forex. So Nigerians can enjoy their country.

Over and Out.

Good Luck to Nigerians.

Yea.

It's the internet. Everyone is right.

I won't engage them any more.

.

Nairalanda1, try to read this post slowly, do a little research so your understanding of recent economic events in Nigeria will improve.

The US dollar is the global reserve currency. US interest rate policies affect the values of currencies globally. When the United States raises interest rates, investors across the world buy US bonds. This lifts the value of the dollar against other currencies. When US interest rates fall the opposite (usually) happens.

Norway has the largest sovereign wealth fund of any country yet its Krone lost value when the US started raising interest rates in 2022.

Now to subsidies. Subsidies in Nigeria exist because of the federal government’s poor management of our macroeconomy which leads to the severe collapse of the Naira when US interest rates are being raised.

As Tinubu started his tenure in mid 2023, he should have borrowed money to fight for a stable Naira until the US stopped raising interest rates. He should have closed the gab between the official and the black market rates but he shouldn’t have allowed the Naira to fall as badly as it has.

nairalanda1:



Baron you can catch Danger Mouse. All you need to do is to put a large bit of Rouchefort cheese on Baker street laced with formula 12 which when that dastardly mouse eats it, he will become your willing slave .

Just do it Baron, and DM would be in your pocket forever

What a shame. What breathtaking cowardice.

Tianamen1:
Nairalanda1, try to read this post slowly, do a little research so your understanding of recent economic events in Nigeria will improve.

The US dollar is the global reserve currency. US interest rate policies affect the values of currencies globally. When the United States raises interest rates, investors across the world buy US bonds. This lifts the value of the dollar against other currencies. When US interest rates fall the opposite (usually) happens.

Norway has the largest sovereign wealth fund of any country yet its Krone lost value when the US started raising interest rates in 2022.

Now to subsidies. Subsidies in Nigeria exist because of the federal government’s poor management of our macroeconomy which leads to the severe collapse of the Naira when US interest rates are being raised.

As Tinubu started his tenure in mid 2023, he should have borrowed money to fight for a stable Naira until the US stopped raising interest rates. He should have closed the gab between the official and the black market rates but he shouldn’t have allowed the Naira to fall as badly as it has.

The guy didnt even bring an expert on board before making all those moves!