Once A Billionaire, Now Tuban Residents Find It Difficult To Find Food, Indef Once Reminded That It's Better To Buy Livestock Than Pajero And Fortuner Cars

JAKARTA - Residents of Sumurgeneng Village, Tuban, East Java were viral in the mass media for suddenly becoming billionaires and buying luxury cars in groups, after receiving compensation for land acquisition for the refinery project to PT Pertamina (Persero). However, the enjoyment felt by residents did not last long, the money they got ran out.

Now, the residents of the Billionaire Village do not have a job and they also lose their steady income. In fact, some residents have to sell their livestock to survive.

What can be learned from this phenomenon?

Indef Executive Director Tauhid Ahmad said that there was something wrong with the financial management of the residents. Where should the money received from the sale of the land be used for profitable investments.

Furthermore, Tauhid said the lesson that can be drawn from this phenomenon is, when receiving large amounts of money, it needs to be balanced with good knowledge about how to manage money. Moreover, many residents have been reminded since the beginning of the receipt of money.

"Many have been reminded (to invest in the productive sector), but sometimes they feel that they have that much money, and are finally tempted to spend it at one time," he said when contacted by VOI, Thursday, January 27.

Tauhid said that if the money obtained from the compensation for land acquisition for the refinery project is invested in the banking sector, at least there will be benefits that can be enjoyed by residents.

"It could be in the financial sector, let's say in the banking sector in the safest SBN, for example. Not bad 8 percent a year, if you have Rp. 1 billion, at least (get) Rp. 80 million. Indeed, the impression is that Rp. 1 billion is a lot but it runs out quickly. Instead, it must be invested in there," he said.

Not only in the banking sector, said Tauhid, the public can actually invest their money in the real sector. Like a farm.

"Well, the real sector must be selective. For example, animal husbandry, it has knowledge and calculations, it must be fostered," he explained.

Tauhid also regrets the steps taken by residents who actually choose consumptive goods over profitable investments. Therefore, it is not surprising that now villagers are demonstrating against Pertamina.

"But that's the problem, people are running out of money for consumption. Because there is no income, the land cannot be used. That's automatic," he said.

As is known, land acquisition for an oil refinery construction project in Sumurgeneng Village, Jenu District, Tuban Regency, covering an area of 21,410 meters has made residents of Sumurgeneng Village, Jenu District, Tuban Regency, East Java become billionaires. After receiving payment, they compactly bought the car.

Not long ago, the arrival of 17 new cars to the village had gone viral. Not all of the cars have been sent. This is because the number of cars purchased by the residents is 176 units. In fact, one house bought two to three new cars, from the Mitsubishi Pajero Sport, Toyota Fortuner, to Toyota Innova Venturer.

The number of affected residents reached 280 people. They agreed to sell their land for a national project. Pertamina pays in the range of Rp600 to Rp800 thousand per meter. In fact, there were residents who received compensation of up to Rp. 26 billion.

Previously, Tauhid had warned that buying a car is the right of Tuban residents. However, he said, it would be very unfortunate if the money from the payment of land compensation was used to buy two to three cars.

"It would be better to use the money to buy something in the productive sector. Do you buy livestock, (so) they can work to earn higher profits. It's not forbidden to buy a vehicle, but don't spend it on the consumption sector. It's a shame the money," he said. , when contacted by VOI, Thursday, February 18, 2021.