.

Nothing spectacular to write(Except that I use Arch btw). DM to ask any question (He/Him)

[. @OLARID7852]

@revolyte @arojinle1 That is less than a billion dollar.

It takes an average of 1bn usd to build a 1000mw generation plant.

We need more than 20000mw. But generation is the least of our problems right now. The whole distribution network has to be upgraded. Same with transmission

[. @OLARID7852]

@ikhanvbode Lol, El-Rufai is not Buhari.

Only Peter Obi can be compared to Buhari of 2014 right now.

Also, nobody is touching Atiku.

Meanwhile, El-Rufai publicly admitted to being a beneficiary of a major crime.

[Gene Grey @EuginhoCortez]

Go to Uyo and Enugu to shoot.

[. @OLARID7852]

NGMI

[ARISE NEWS @ARISEtv]

Lack Of Electricity Makes The Population Double In Nigeria - Fayose

When you don’t address the issue of electricity, by 7 o’clock it gets dark, and people start engaging with their wives, so the population doubles. The simple problem is that, because there is no electricity, people go to bed early. Their minds are already prepared for it. If this is the only option available, they simply stay at home. But if we address the electricity problem, there will be nightlife.

Ayodele Fayose, Chairman, Rural Electrification Agency

[. @OLARID7852]

@HrhKingAlex And my answer is simple.
We have subsidized productivity for years, we haven’t got a better results than our neighbors who are not subsidizing productivity.

[. @OLARID7852]

@AksWatchdog I doubt anybody in their right mind would put a toll in front of a road that is in a bad condition

[. @OLARID7852]

@HrhKingAlex Government sharing money has been tested and proven everywhere in the world.

It creates consumption which is very important for economic growth. Especially outside the major cities.

[. @OLARID7852]

@HrhKingAlex @__ManOfPeace__ And why should we spend more amount of money to subsidize petrol than we spend on developing our states?

[. @OLARID7852]

@HrhKingAlex @__ManOfPeace__ And my own position is that we must find a way out of this problem, without having to resort to fuel subsidy.

And the reason why I am against fuel subsidy is because it is a transfer of national wealth to the middle class and the rich.

[. @OLARID7852]

@HrhKingAlex @__ManOfPeace__ Why should we subsidize fuel(for private cars) when we don’t subsidize public transportation?

Why should we subsidize fuel for generators when we can’t provide electricity for the poor?

Why should we subsidize energy when 60% of Nigerians are living in poverty? Why not food?

[. @OLARID7852]

@Culture07 @__ManOfPeace__ @HrhKingAlex Waiting for us to be productive is also not an option because we won’t be productive in the next 5 years. At least, in a way that is likely to stabilize dollar for us.

[. @OLARID7852]

@Culture07 @__ManOfPeace__ @HrhKingAlex Yes, as far as we depend on only one commodity for our exports, there is no way to achieve real dollar stability.

Yet, we must move towards the reality. We cannot decree dollar to 300 naira by fiat.

We all saw how that played out.(dollar scarcity and black markets)

[. @OLARID7852]

@__ManOfPeace__ @HrhKingAlex You are making my argument for me.

Cost of goods increased x3 even without removing subsidies.

Subsidy was not removed in 2015, it was removed in 2023.

And between 2015 and 2023, cost of goods x3.

There was a severe economic downturn with two recessions.

[. @OLARID7852]

@HrhKingAlex Do you think it is fair to spend more amount of money to subsidize fuel than the total budget of Lagos?

[. @OLARID7852]

@HrhKingAlex What is a smart sustainable subsidy?

Currently, the average petrol usage is 47m liters per day, which costs a total of 18tr naira per annum.

How much of this amount do you think is okay to subsidize?

[. @OLARID7852]

@__ManOfPeace__ @HrhKingAlex Allowing dollar to trade at a fair value is more important than removing fuel subsidy.

So, if one had to go, it should have been the dollar rate.

This is because we need dollar stability to plan economic growth.

[. @OLARID7852]

@HrhKingAlex I agree with you that there should have been plans in place before removing it, but now, it is too late and there is no reason to return to it.

[. @OLARID7852]

@HrhKingAlex My reply to this is simple.

Nigeria has been using petrol subsidy for decades. Has it made us more productive than our neighbors?

If something is not working, is the solution to continue doing it?