The Vice President of Nigeria, Kashim Shettima, explained that President Bola Tinubu decided to remove petrol subsidy because Nigeria's economy was in poor shape, with a high debt service-to-revenue ratio of 111.8%. This means that for every ₦100,000 earned, Nigeria had to pay ₦111,800 to debtors, leaving little for other important things.

Shettima said Tinubu made this tough decision to save the economy from collapsing. Before Tinubu became president, Nigeria was spending more money on paying debts than it was earning. This was not sustainable and could have led to serious problems for the country.

The government's data shows that in 2022, Nigeria spent ₦5.65 trillion on debt servicing but only earned about ₦5 trillion. This was the highest debt service-to-revenue ratio in recent years. In 2023, the government planned to spend even more on debt servicing.

Shettima assured Nigerians that despite the challenges, the economy will get better. The government is working on initiatives in different sectors like oil and gas, creative arts, housing, and digital sectors to improve the economy.

President Tinubu removed fuel subsidy in May 2023, which led to an increase in fuel prices. This affected the cost of living and businesses, but the government says the money saved from subsidy removal will be used for health and education sectors. However, many Nigerians are still struggling with high prices and unemployment.

Imagine

These guys can never leave the blame game syndrome. Is it not the same APC. ?

Buhari borrowed recklessly but was cheered on by Tinubu and SW people. Infact, part of the reason Saraki was insulted and given the otoge treatment was because he refused to approve Buhari's stupid loan requests.

Tinubu cannot lament now, he even told Buhari to print money during covid. The chicken has come home to roost

malali:
The Vice President of Nigeria, Kashim Shettima, explained that President Bola Tinubu decided to remove petrol subsidy because Nigeria's economy was in poor shape, with a high debt service-to-revenue ratio of 111.8%. This means that for every ₦100,000 earned, Nigeria had to pay ₦111,800 to debtors, leaving little for other important things.

Shettima said Tinubu made this tough decision to save the economy from collapsing. Before Tinubu became president, Nigeria was spending more money on paying debts than it was earning. This was not sustainable and could have led to serious problems for the country.

The government's data shows that in 2022, Nigeria spent ₦5.65 trillion on debt servicing but only earned about ₦5 trillion. This was the highest debt service-to-revenue ratio in recent years. In 2023, the government planned to spend even more on debt servicing.

Shettima assured Nigerians that despite the challenges, the economy will get better. The government is working on initiatives in different sectors like oil and gas, creative arts, housing, and digital sectors to improve the economy.

President Tinubu removed fuel subsidy in May 2023, which led to an increase in fuel prices. This affected the cost of living and businesses, but the government says the money saved from subsidy removal will be used for health and education sectors. However, many Nigerians are still struggling with high prices and unemployment.

helinues:
Imagine

Imagine the failure buhari you defended for 8 wasted years abi?


Buhari/tinubu supporters will not know what hits them... supporters of bad government

Forumites:
These guys can never leave the blame game syndrome. Is it not the same APC. ?

Same party same supporters oo


Enemies of a working nigeria, that is what they are, cos no one will love his country and support buhari/tinubu to rule them

Cindypresh:


Imagine the failure buhari you defended for 8 wasted years abi?


Buhari/tinubu supporters will not know what hits them... supporters of bad government

What exactly do you gain in attacking others for no reason.

Remember, I am not the first to ask you this question on this forum.

What do you gain? Are you always in an aggressive mood?

Must you shut people down all the time?

helinues:


What exactly do you gain in attacking others for no reason.

Remember, I am not the first to ask you this question on this forum.

What do you gain? Are you always in an aggressive mood?

Must you shut people down all the time?

You people destroyed this country, you rioted against fuel subsidy at #145 and now supporting your party subsidy removal at #700

You people are hypocrites and propagandists for the criminal Apc government.

You voted failure buhari not once but twice.

You people don't deserve peace

helinues:
Imagine

Imagine life without being engaged.