In 2023, Argentina was dying:
• Central Bank $12B in debt
• 50% poverty rate
• 7,500% inflation
Then Javier Milei became President.
11 months in, he's pulling off the greatest economic turnaround ever.
In a 2-hour pod with Lex Fridman, he revealed exactly how he did it🧵
Davido told the world that Nigeria’s Economy is gone. The NBS quickly published a Fake Data to convince people otherwise. Bola Tinubu will finish Nigerians with forged statistics.
Javier Milei came to office 7 months after Tinubu’s inauguration. But he has put Argentina on the path to stability one year after his inauguration. While people are still making excuses for Bola, Milei offered no excuses.
He reduced his number of ministers from 18 to 9, & sold the two national jets. Now he flies commercial. He reduced his convoy by half.
Milei is on track to achieve Zero Fiscal Deficit.
In Nigeria, Debt Servicing will exceed Capital Expenditure for the first-time since 1999. That is the Budget that Bola Tinubu is proposing for 2025. A so-called Deloitte/Mobil Akantant.
Milei slashed government’s spending by half, but Tinubu did the opposite. He increased his number of ministers from 47 to 49, & added a Livestock Ministry (despite approving the full implementation of Orosanye’s Report). Now you have 36 ministries, a bloated bureaucracy
He employed 14 media aides. The first in the History of Nigeria. Signal of his desire to run a Government of Propaganda. Fela Durotoye left on his own accord; bringing the total to 13.
The Central bank of Argentina has added $19 billion to their foreign reserve balance. 1 USD is the equivalent of 1,003 ARS (Argentine Peso).
Yemi Cardoso claimed that CBN has $40 billion in foreign reserves. But that is gross, not net.
Commonsense told me that if you have $40 billion net, Naira to the Dollar will trade around N1000/$1. They should publish the Audited Financial Report of the CBN, then we can talk.
Back to Argentinian; Javier Milei has slowed Inflation from 25% to 3.5% month-on month. Interest rate is dropping as well. “Even if you give Bola Tinubu 30 years, nothing will change.”
Daniel Bwala told me so, & I believe him!
We shall continue to compare Nigeria with Argentina. Woe betide you, if Argentina finish ahead of Nigeria. As for me, Bola Tinubu is going to finish last, behind Muhammadu Buhari
In Nigeria, most married men can no longer buy clothes for themselves. Many daddies have become hopeless & depressed in their prime.
They prioritize food, rent, school fees & other sundries. Many children will become stunted or malnourished. Children of the poor & vulnerable are dangerously close to kwashiorkor.
Some of these daddies may have PTSD before Asiwaju's Horrors are over. Baby foods are expensive. Diapers & medicines are way out of reach. Price of food items in the market are crazy. The 33% inflation is obviously a lie.
Many can no longer save, no matter how hard they try. Families work just to feed once or twice a day. Loan Apps are making a killing. Families now live off loans for their daily sustenance. Interest on the loans are crazy, but people have no choice. Now it’s survive or perish; you choose! HOW DID WE GET HERE?
Begging has reached a crescendo. I haven’t seen this level of begging before. Nigerians have been there; they have lost all sense of dignity. People have been to hell & back!
There are no disposable income left!
Amid all of these, the presidency, the NASS & the governors, are living ostentatious life. They still present padded budgets with frivolous line items. No sense of urgency in them, no mercy. Most of them still act as if things are normal.
Tinubu is just borrowing monies & living a lavish lifestyle. I have never seen a man like that!
Investments are not coming. Productivity at its lowest. All economic indices are down. Disposable income is gone. The middle class are no longer in the middle. Nowadays, you're either rich or poor, no middle ground.
He cannot assemble a media team. But his biggest crime is his inability to assemble an economic team. They told you that exchange rate has been unified. But Bola Tinubu pegged his budget borrowings at N800 to the dollar.
Lagos Boys are cashing out; they are going to make crazy profits from arbitrage, like Duara Boys. That urge to dip fingers inside the National cookie jar is ever so strong. By the time Asiwaju is done with Nigeria, many of his ever-willing slaves will know the difference!
Again, condoms & essential medications are expensive now. Whatever you do, please try as much as possible to stay healthy. DO NOT FALL SICK! Try & exercise daily. Drink lots of water & take as much fruits. Avoid smoking & alcohol. Avoid hard drugs & other harmful substances.
Chinua Achebe’s “there was a country,” makes a whole lot of sense now! Nigerians lost a decade of their lives because of one very silly/expensive mistake. Grownups fell for a well-oil propaganda/imaginary CHANGE, & paid with their lives. HOW DID WE EVEN GET HERE?
This was not the Dream that was Nigeria!
Leave Twitter banters & go to the streets. What the Bola Tinubu Government is pursuing is called Economic Terrorism. Using the instruments of Economic Terror to k*ll & strangulate your people. Poverty is a tool for control. The APC weaponize it for their own selfish gain. Thing are so terrible out there.
And Instead of tithing, use it & lend a helping hand to struggling families in anyway you can.
God in his infinite wisdom will reward you. 🙏
This is how singapore fought corruption
“If you want to eliminate corruption you must go after people at the Top first”
If no officer is arrested in this bobrisky case then the EFCC is a fat Joke!