Please read this carefully and take his advice......
“I have been, over the years, talking about the pending crisis ahead of the current economic hardship. Any economist who has studied monetary policy in the last eight years knows that Nigerians will fall into this difficult situation.
"The difficult situation Nigerians are facing is just the beginning (if the right decision is not put in place) because Nigeria is not exceptional; such situations happened in Germany, Zimbabwe, Uganda, and Venezuela.
“The previous administration turned adamant about our appeal for corrective measures (on the economic policy). I have said in the presence of the now sitting president in Kaduna state, any politician who tells you that things will be easy, don’t vote for him because he is lying. People merely dismissed my advisory as a political statement.
“If I am to be fair and just to President Bola Tinubu, he is not to blame for the current hardship; for eight years, we were living a fake lifestyle with huge debt from foreign and domestic debts. The Central Bank of Nigeria owes over N30 trillion, which resulted in debt service surpassing 100 percent.
"I can’t join other Nigerians criticising Tinubu on the current economic hardship, and I am not saying he is a saint free from wrongdoing, but in this current economic situation, President Tinubu is not to be blamed. I will also speak if I see any wrong economic policy of the Tinubu administration in the future.
“It’s injustice for anyone to blame the Tinubu administration for the current economic hardship because there is no other alternative than the removal of the fuel subsidy. After all, Nigeria cannot even afford to pay the subsidy. In the last eight years, the Central Bank continued to print more money, and the Naira continued to depreciate. There is too much naira in circulation because the CBN is printing the currency without restraint.
“The economy was poorly managed, and they are not willing to take advice; in the last eight years, apart from sycophancy, nothing has been done; those sycophants are those buying the dollar at the rate of N400 and selling it at the rate of N600 to N700.
“A boy who has no record of service has a private jet and owns houses in Dubai and England just because he is buying dollars at so a rate and selling them.I can only plead with the people to endure the hardship, and those who have the means to help the downtrodden should do so.
“I am also pleading with commoners to live according to their earnings; we must not peg our lives above our earnings in this difficult situation where people are looking for what to eat.”
SANUSI LAMIDO SANUSI
"The difficult situation Nigerians are facing is just the beginning (if the right decision is not put in place) because Nigeria is not exceptional; such situations happened in Germany, Zimbabwe, Uganda, and Venezuela.
“The previous administration turned adamant about our appeal for corrective measures (on the economic policy). I have said in the presence of the now sitting president in Kaduna state, any politician who tells you that things will be easy, don’t vote for him because he is lying. People merely dismissed my advisory as a political statement.
“If I am to be fair and just to President Bola Tinubu, he is not to blame for the current hardship; for eight years, we were living a fake lifestyle with huge debt from foreign and domestic debts. The Central Bank of Nigeria owes over N30 trillion, which resulted in debt service surpassing 100 percent.
"I can’t join other Nigerians criticising Tinubu on the current economic hardship, and I am not saying he is a saint free from wrongdoing, but in this current economic situation, President Tinubu is not to be blamed. I will also speak if I see any wrong economic policy of the Tinubu administration in the future.
“It’s injustice for anyone to blame the Tinubu administration for the current economic hardship because there is no other alternative than the removal of the fuel subsidy. After all, Nigeria cannot even afford to pay the subsidy. In the last eight years, the Central Bank continued to print more money, and the Naira continued to depreciate. There is too much naira in circulation because the CBN is printing the currency without restraint.
“The economy was poorly managed, and they are not willing to take advice; in the last eight years, apart from sycophancy, nothing has been done; those sycophants are those buying the dollar at the rate of N400 and selling it at the rate of N600 to N700.
“A boy who has no record of service has a private jet and owns houses in Dubai and England just because he is buying dollars at so a rate and selling them.I can only plead with the people to endure the hardship, and those who have the means to help the downtrodden should do so.
“I am also pleading with commoners to live according to their earnings; we must not peg our lives above our earnings in this difficult situation where people are looking for what to eat.”
SANUSI LAMIDO SANUSI
“I am also pleading with commoners to live according to their earnings; we must not peg our lives above our earnings in this difficult situation where people are looking for what to eat.”
ReplyDeleteThis is the solution 👌
How many Nigerians are living above their earnings?
DeleteMajority are even living below their earnings, because their salaries can barely afford basic commodities.
They keep on advising the common man, and forget the politicians who are living large. They still collect their huge allowances and estacodes, flying around in private jets, and buying lavish houses and cars.
While the common man is advised to keep on suffering.
This government is borrowing even more so what gives?
DeleteThen why did Tinubu remove the subsidy, to add to our woes?
DeleteEveryone look up to those fake influencers with their fake shoes and bag on social media.
DeleteHmmmm
ReplyDeleteThis man is so full of wisdom, I wish they'd listen to him
ReplyDeleteForget about "they" but rather ask if you are still blaming this present government for putting a stop to the wanton waste from the days when you and I would take money meant for our grandchildren's education, security and prosperity and pour it into a car tank, or give it to those stocking their shops with imported biscuits and salad cream, killing manufacturers and millions of jobs at home.
DeleteThe road is long and there's still a long way to go but a nation that collectively squandered it's tomorrow for over 50 years should expect the bills to keep coming for at least a decade and a half especially since the is no money on ground with the budget being over 80 percent funded by borrowed money, those Nigeria heavily invested in in terms of education unwilling to give their skills back or create wealth by solving problems and over 1 in 5 earning adults not interested in funding common amenities that exist, are expanding and need maintenance eg hospitals, schools, roads, security forces. . That's why those of us that openly supported the subsidy removal and the necessary hardship that must come with it were weary of those lying about having a magic wand they didn't wield over their states even with federal government funding.
Thank God this federal government is listening to those who know and are not yet derailed by the noise of people who want success but are unwilling to pay the price or even finance the debt that their greed has incurred.
The next best thing is to remove subsidy truly and like Milei has done in Argentina, make payment into unions voluntary for workers so they can explain how their partisan meddling into politics would have prevented the rise of prices if subsidy was removed from day 1 as they campaigned.
Nigeria needs people to be sane and sensible in this time of difficulty so that we can go through hell fast and not lose the lessons earned through fire like contentment, innovation, resilience.
Before complaining about prices, please consume a news article out documentary on the fall of Venezuela, Cuba, Argentina, or Germany. After that, let us study the rising of countries like the UAE, Malaysia, Singapore, China and what economic policies worked or failed.
This is not about them or they. The current result is due to collective effort.
They know there's a lot of truth in this statement, but they will still abuse him as usual.
ReplyDeleteNobody is abusing him. My question is, has the president made any economic policies in the right direction?.
DeleteYou can’t be buying private yacht in the face of economic crisis , spending 400k $ for a weeks travel or casting the whole world to copa in the face of economic crisis. We’re heading towards Zimbabwe levels. Everyone should brace up
Didn't you read the same article and see that the present government has largely followed advice from Sanusi and others despite not being perfect?
DeleteAre you not the same persons complaining about this painful changes pretending as if the removal of fuel and dollars subsidy would have magically reduced prices of goods? Has the government not begun to stealthily subsidize fuel because you are unwilling to pay the price for prosperity, expecting it to be an easy ride? Are you not the ones shooting yourselves in the foot, rooting for the 7 percent of the population with civil service jobs to grind down the economy with their unreasonable demands at the centre which they haven't even achieved in their respective states? And would a strike shore up the financial inflow or confidence in the economy?
You are well aware that the previous government bought this yacht and the current administration was without a choice in it's purchase and you haven't found a buyer at even half price so what are the options? THE COP Whatever conference had tens of billions of dollars on the table in the form of grants and funds so any serious country or business in the world was there seriously jostling for the funds. Nigeria was not just competing with Safrica but even Kenya, Rwanda, Uganda , Tanzania and Ghana put up a good showing with lobbying and networking which would ensure billions of debt free financing for their budgets. You have to be there, shaking have, giving talks, responding to questions. It's the way this present president drew in about 12 billion dollars in direct long term investment from India days before another conference held previously. Even commercial banks like UBA were advertising to receive such funds so forget a situation where people would be showing you how they only own one watch to gain international funds: it doesn't work. Tell me the last time you gave a naked begger 1 million naira.
Work is going on and except you choose not to see and are bent on confessing negatively, it's a slow but steady road to progress Nigeria has ahead of it.
The masses are suffering while the political class are exempted, and you are here writing long essays. Sycophants everywhere!
DeleteEven me myself I know we can't really blame the present government, all past leaders created this mess and we can't expect a miracle overnight. May God help Nigeria, and I pray tinubu involves people like this that can help in his government, put party aside and join hands to push the nation forward, he's not called jagaban for nothing na, I hope his administration turns out to be in our favour at the long run
ReplyDeleteWe can and we will blame this government. Who removed subsidy on the first day of assuming office without an action plan? Who floated the Naira and made it almost useless? Who refuses to tackle the everyday kidnapping along our major roads? Who has refused to increase minimum wage despite cries from the masses?
DeleteI can go on and on.
The economic policies of this regime may be the end of Nigeria
Continue blaming and keep going on and on. It is within your right.
DeleteYou keep living in lala land that there was an alternative to removing fuel subsidy, what steps could have been taken please?. We consume more FX than we produce as a nation - serious issue, unfortunately, our people have lost confidence in the Naira and everyone is buying and hoarding dollars even when they don't have any immediate need for it.
How can the CBN sell over $2billion in one week and the exchange rate keeps going up in the black market?
Thinking that the solution to these issues is a piece of cake is simply living in delusion.
God help Nigeria!!!
Nocturnal does not have one million to give the government to subsidize half of his/ her street for 2 weeks but wants a government funding subsidy with OVER HUNDRED PERCENT OF A BUDGET FINANCED BY DEBT TO THE TUNE OF 80 PERCENT AT LEAST to first come and be forming committees and think tanks while the economy tanks irreversibly or the Chinese take over the port to service the debt as they have done elsewhere.
DeleteHave the previous administrations and their failure to revive the economic trajectory with subsidy still on the books not enough? Did the person you supported not have the same DAY ONE plan? How much time should we have planned and cushioned that would have been right after 50 years of professional wastage?????
@ Nocturnal, kindly include, who forced the past regime down our throat? Despite a messed up first tenure, he was given another 4 yrs chance to build a railroad from Niger to Nigeria, Where did he get the funds from?
DeleteSLS saying it the way it is.
ReplyDeleteNeesolah
Tinubu marketed Buhari to millions of myopic Nigerians and his APC ruined the economy! Therefore he shares in the blame. He cannot be excused.
ReplyDeleteGod bless you for this comment!! He created this monster we are now suffering. He must share in the blame
DeleteDid he put a gun to your head to vote for Buhari.
DeleteMarketing your party candidate is normal in politics, Nigerians voted for whom they wanted
The same way Atiku and Obi marketed Jonathan, Yar Adua and Obasanjo who upheld the range of economic fallacies and led us here. It is also not the fault of any big players on the political stage that Nigerians are gullible as you claim. It is the duty of said Nigerians to stop being daft and quit blindly opposing a government for taking the necessary though painful steps to set things right. You would hate for your God, parents or godparents to be played for your wrong personal actions and you even hide behind your limited wisdom to blame someone for what another did. The same Tinubu, at his colloquium severally warned the government about the danger of continuing fuel subsidy payments and printing the naira without regard for inflation. He complained about the danger of dying the naira while the other small minds supporting it did so even when citizens were dropping like flies.
DeleteExtend the same grace to the people rowing the boat currently: they are in front which would be the last place to sink. Pursuing personal vendetta would only hit you and not thenPut yourself first and remove sentiments from your reasoning, embracing the unbiased embrace of common sense. This government has set a lot of things right and has started steering the ship away from the massive iceberg.
Thank you 15:00 🙏
DeleteIt is well with us as a nation.
ReplyDeleteThe current government is to blame
ReplyDeleteWe were at crisis point and the made it worse
You play the hand you’re dealt and they e played theirs poorly
Instead of inspiring confidence for example they keep running around with a new crazy policy everyday
If investors don’t know what to expect, they pull money out
Meanwhile, money is paid into private accounts to Betta Du lives of politicians in government.
DeleteWell spoken
ReplyDeleteBut the Rulerticians have refused to peg their government spending according to the reality.
ReplyDeleteN1Billion for minimum wage committee inauguration or even sef full work? N500 approved for release. Balance to be approved later. When the news broke, there was no contriteness. Rather, they were looking for the mole who released the memo as if memo were not broadcast in their those days' bid for change in power control
This administration may not be the cause but it continues on the highway to Harare.
If BAT had started with cutting the cost of governance and not declaring bonanza like as if everything was honky dory, then I wouldn't find any blame with him. The guy think say the whole Naija na Lagos promax and just started balling. If he didn't know the damage "the lifeless one" did, at least when he entered Aso Rock he must have been briefed on how things were. But no!!! He went wild. Now everywhere don red
ReplyDeleteWord 🙌🏽
DeleteIf BAT had started with cutting the cost of governance and not declaring bonanza like as if everything was honky dory, then I wouldn't find any blame with him. The guy think say the whole Naija na Lagos promax and just started balling. If he didn't know the damage "the lifeless one" did, at least when he entered Aso Rock he must have been briefed on how things were. But no!!! He went wild. Now everywhere don red
ReplyDeletei dont blame the president but he was part of those that protested against former president jonathan when he wanted to remove subsidy at that time. if we had removed it then, things would not have been like this. politics is all about power struggle. All the president and those coming after are all the same
ReplyDeleteYou were also over of the options who supported the subsidy staying on and benefited from it so you should also blame yourself if blame was useful or beneficial at this time.
DeleteLet tell ourselves the truth for once. Yes Mr Ahmed Bola Tinubu met a huge debt economy when he took over no doubt about that. The question we should be asking is, which effort is being put to correct some things?
ReplyDeleteRemoving subsidy on his inaugural speech was a dumb move. Fuel moved immediately from 200 to 600 plus.
How do we explain the 160millions SUV for each legislator? What about the over 1400 persons taken to Dubai for a submit?
A country bleeding economically should learn and know how to cut the cost of governance. I don't want to talk about the 500million mapped out for 37 members committee to tackle the minimum wage issue.
So you see, these are the problems.
© TEEJAY.
****President Bola Ahmed Tinubu
DeleteI tire nobody is talking about the 500million and the will still pay the balance,let them continue turning blind eyes
DeleteOga na all of una hand dey this problem.
ReplyDeleteTinubu no be new person for government matters, no be him put una buhari? He no be party leader?
Abeg make una getaat
God wont allow Nigeria consume me and my family. Amen
ReplyDeleteWhat is the way forward? Hunger is hammering people ooooo
ReplyDeleteSanusi absolving Tinubu of our current economic situation shows his hypocrisy. In fact, was Sanusi not part of the cabal that joined hands to give us the same Buhari he is now blaming? He should park one side cos we know y'all are our problem.
ReplyDeleteAre you minding the sycophant?
DeleteAnd you gave us Jonathan who didn't have the balls to end subsidy at a time of economic boom, letting the Diezanis and Alukos of the world take it for themselves. People vote for whomever they want. It's not smart to take a pound of flesh out of somebody at the cost of your own head.
DeleteAnon 21:22, people are dying of hunger and you are here playing a political game for money. Does the current Nigerian situation look like a joke to you? People are literally dying because of the bad policies of both Buhari and now Tinubu.
DeleteYou know you are nothing but a bloodsucker, a witch you are.
They are just stating the problems we have already known but not making any suggestions for solution.What I want to hear is, ' this is the way out '.
ReplyDeleteGbam , the way forward gangan ni koko. I can't believe foodstuffs can cost like this in Nasarawa State. Things are fairly better in Lagos State, I don't know why meat will be cheaper in Lagos than North.
ReplyDeleteThe way forward ye gangan ni koko
DeleteThis mess we are in is only God that will help us
ReplyDeleteI have never seen a nation of liars and thieves such as Nigetia. Some comments here are beyond belief..anyway I don't live there, so until you lot tell yourselves the truth and live above bigotry and tribalism, this will just be the beginning. It is not who to blame, it is what they are doing to get you all out of this mess and from where I am standing. It seems the ones you lot voted into power haven't got a clue...by the end of this quarter the pound will hit 2500.
ReplyDeleteI remember when someone on here said it was going to get better, it only gets better by action not prayer or wishful thinking.
We are also facing record inflation where we are and are not clamouring for martial law so we can relax with the fake outrage and armchair analysis.
DeleteIt does not matter where you live, a room is now £950 per month in London which was £420 this time in 2022. The price of basic stuff has gone through the roof. Those earning £1500 per month are just like living from pay check to pay check. Forget the hype that I live abroad, life has been so difficult since the start of Ukraine war which push energy price through the roof. It is not only in Nigeria people are suffering, what .makes ours worst was that our people are stupendously corrupt and there are not a lots of strong institutions in place in Nigeria. Before as a foreign student in UK, you can earn up to £1200 per month, pay like £250 for a large room and still be able to augment your school fees from your wages, now that same amount can barely get you a room. Things are pretty difficult at the moment everywhere in the world.
Delete00:54, thank you for stating the global reality.
DeleteTalking about Nigeria depressed Me !
ReplyDeleteMake we sell the country already
Abeg who be commoners ?🙄🙄
ReplyDeleteThe governor of Edo state said the same 2yrs ago Obaseki stop printing money stop all this half bake palliative he was bash look where the country is today, very soon is going to be trade by batter to survive, remove cloth and i go remove cloth, take tea make i give you bread to survive
ReplyDeleteIs the present administration not a continuation of the previous one. same political party that has put the country in this mess. So if it the same political party from Buhari to Tinubu, how is Tinubu not to blame?
ReplyDeleteFirst time I am seeing a real discussion taking place on this blog, reasonable and sensible contributions to a topic,keep it up,una brain don begin work well.
ReplyDeleteTinubu can not be absolved of blame, in fact, he is to carry the blame for the current hardship that is like never before. He sold Bihari twice to Nigerians, beating his chest on the two occasions that the General will perform near miracle to take Nigeria out of the lesser woes of the then PDP. Being the leader of the rulling party since 2015, he can not be excused of not knowing what to do. By his own admission like all the people in the corridor of power, fuel subsidy is a scam. Why then did he chose to overburden the Nigerian masses by removal of fake subsidy instead of going after the scammers? It requires no Einstein brain to know that you don't throw the two crital economic variables, cost of energy and exchange rate to the dogs called market forces at the same time in an economy like ours and not expect total meltdown. All the silly armchair economists hailing the policies need their brains checked. Like Fela said "my brother make you no follow book o, you common use your sense, because if you dey follow follow them book na inside cupboard you go quench, where cockroach, termite and darkness dey". Tinubu is more interested in protecting the interest of his class than that of the masses and the country. They are footdraging on the CNG because they want to protect interests in dangote refinery. They are the ones with deep pockets full with dollars, it won't be in their interest to fix the exchange rate and eliminate the black market they glorify as parallel market. The stupid statement of May 29 2023 is the cause of the present woes, it was Tinubu who made the reckless statement without machinery to deal adequately with the consequences, so, who else to blame?
ReplyDelete