ducii:


The figures are there as a guide, the end seller might not follow the figures, and sell at very high prices. Now how is that the governments fault?

Same dirrection Im trying to steer him to

Why does everyone care so much about the price of garri?

ducii:


The figures are there as a guide, the end seller might not follow the figures, and sell at very high prices. Now how is that the governments fault?

What it means is the figures of increase or decrease in inflation levels are wrong, and this would affect the monetary policy strategy of government(CBN) - and they are not doing the needful - directing policies at middle men that would force prices down* or reduce channel marketing to encourage the major producers to create big outlets - they claim they are Prof's and Dr's - haba are they supposed to look to us, for answers? - its better they head back to universities to teach O! And stay their-

olajide8:

What it means is the figures of increase or decrease in inflation levels are wrong, and this would affect the monetary policy strategy of government(CBN) - and they are not doing the needful - directing policies at middle men that would force prices down* or reduce channel marketing to encourage the major producers to create big outlets - they claim they are Prof's and Dr's - haba are they supposed to look to us, for answers? - its better they head back to universities to teach O! And stay their-

Can you point us to a location where you think the figures are wrong? Bear in mind the source is in the public domain.

erico2k2:

Can you point us to a location where you think the figures are wrong? Bear in mind the source is in the public domain.

Stop asking questions like those in authority- ask where they got the figures they put into the report then we would measure it - ask questions ask for explanations - instead of accepting that nigeria economy is growing , because it was re-based-
I still insist, inflation is not something that can be measured using forecasted figures, especially when you refer to human beings and making government policies, blend and influence the average nigerian - most of the figures they churn and use I know if you see you would swear- mostly they use figures based on the value of the naira to the dollar-

olajide8:

Stop asking questions like those in authority- ask where they got the figures they put into the report then we would measure it - ask questions ask for explanations - instead of accepting that nigeria economy is growing , because it was re-based-
I still insist, inflation is not something that can be measured using forecasted figures, especially when you refer to human beings and making government policies, blend and influence the average nigerian - most of the figures they churn and use I know if you see you would swear- mostly they use figures based on the value of the naira to the dollar-

ahah this is funy,Im not going to ask you any more question as I now assume you aint got the answers,Im surprised you failed to realize the middle class in Nigeria is xpanding at a rapid speed while other Economies are stagnant.I can Tell you as a matter of fact the middle class in the UK is not expanding in other hand china's expanding.If only Nigerians are not greedy and agree to pass on price relief to the end users, we would see the benefits of these figures.These figures like we pointed out earlier would not necessary mean cheaper goods and services rather its a measure of how much things should have increased to or decrease.now that's not Pricing.

erico2k2:

ahah this is funy,Im not going to ask you any more question as I now assume you aint got the answers,Im surprised you failed to realize the middle class in Nigeria is xpanding at a rapid speed while other Economies are stagnant.I can Tell you as a matter of fact the middle class in the UK is not expanding in other hand china's expanding.If only Nigerians are not greedy and agree to pass on price relief to the end users, we would see the benefits of these figures.These figures like we pointed out earlier would not necessary mean cheaper goods and services rather its a measure of how much things should have increased to or decrease.now that's not Pricing.

I refuse to puncture your assumptions - but what characteristics would you look out for when you refer to the middle class that NOI* and world bank claim is growing - are they self-employments or employed by government/private - the middle class in the uK is not growing because they can actually measure and see it no one can lie about it- is it our level of tax payments that is being used to measure, what exactly - or contracts given out to supposed people (their cronies), supposed SME's established and growing- that are closing shop per day, what/who exactly forms the growing middle class - at least from my education I know that -basically, education level schools are striking, waec results are poor and churches are establishing universities, if they don't it would be in the accounts of the churches and not make a difference, age; people in states have always lived longer then people in lagos because of the stress in lagos, occupation is it the amount of medical doctors being churned out are they the only ones in nigeria, gender in some cases men and women are of equal proportion don't mind the population census- look at the people who go to church on sundays and the roads/street when church services are on, disposable income level what are people actually bying brand new or tokunbo cars, and how are they paying instalmentally or right, environment they habit in lagos people are moving t ikorodu because its presumed cheaper, or is it, what they purchase? are actually the things that determine the classes of people? - here comes my question who are the people that represent the supposed/said middle class that is growing? If a person - working as a civil servant, corruptly steals government money to buy a house in a newly developing estate, does that mean the middle class is growing (and they are so many of them) what exactly represent real growth? (Jobs that last and are permanent or temporary jobs-contract jobs which are everywhere) so where is the middle class - if you are in nigeria their is 2 classes of people the rich and poor shekena! People are rich because they have what can produce and continue to produce wealth even when they retire- people are poor because they don't and cannot produce wealth even when they retire, check this against civil servants and the supposed houses they are acquiring that's if that was used as a population sample for the middle class

olajide8:

Hello Mr joey- like your write ups, those are the instruments methods formula's used by the CBN, reserved bank of america etc within the economy to country where theirs demand and supply- to determine the price per week or day but not overall on the economy for a year(s), your economy is owing billions and you are trading currency does that clear your debts (be truthful or O!) What impact those that have on your economy In the long run, now this is the reason, no economy is an island we by and sell we within an economy demand the foreign exchange against our currency to go abroad to buy and if our economy Is owing that economy people would not be willing to pay premium for your home countries currency which actually leads to the (actual)exchange rate - no magic*
now in order t meet the demand for that day/period - just my contribution*

I can't make out what you have written, it makes no sense at all.

olajide8:


I refuse to puncture your assumptions - but what characteristics would you look out for when you refer to the middle class that NOI* and world bank claim is growing - are they self-employments or employed by government/private - the middle class in the uK is not growing because they can actually measure and see it no one can lie about it- is it our level of tax payments that is being used to measure, what exactly - or contracts given out to supposed people (their cronies), supposed SME's established and growing- that are closing shop per day, what/who exactly forms the growing middle class - at least from my education I know that -basically, education level schools are striking, waec results are poor and churches are establishing universities, if they don't it would be in the accounts of the churches and not make a difference, age; people in states have always lived longer then people in lagos because of the stress in lagos, occupation is it the amount of medical doctors being churned out are they the only ones in nigeria, gender in some cases men and women are of equal proportion don't mind the population census- look at the people who go to church on sundays and the roads/street when church services are on, disposable income level what are people actually bying brand new or tokunbo cars, and how are they paying instalmentally or right, environment they habit in lagos people are moving t ikorodu because its presumed cheaper, or is it, what they purchase? are actually the things that determine the classes of people? - here comes my question who are the people that represent the supposed/said middle class that is growing? If a person - working as a civil servant, corruptly steals government money to buy a house in a newly developing estate, does that mean the middle class is growing (and they are so many of them) what exactly represent real growth? (Jobs that last and are permanent or temporary jobs-contract jobs which are everywhere) so where is the middle class - if you are in nigeria their is 2 classes of people the rich and poor shekena! People are rich because they have what can produce and continue to produce wealth even when they retire- people are poor because they don't and cannot produce wealth even when they retire, check this against civil servants and the supposed houses they are acquiring that's if that was used as a population sample for the middle class

I think Nigeria's middle class has grown and is still growing. Not every rich man in Nigeria actually stole money or is stealing money.
Look at the number of businesses that are springing up on a daily basis cities like Lagos, Onitsha, Owerri, Port-harcout.

Look at the number of Nigerian's going on vacation now in Nigeria, I think there was a report that came out, that Nigerians are the 3rd highest visitors to the UK spending over £200million on shopping.

The Nigerian Stock exchange capitalisation is at it's highest.
The banks in Nigeria is now more profitable than it has ever been. The pastors we have today are more richer than they have ever been, because when their congregation are making money, the churches are getting riches as well.

Before in Nigeria owning a car was luxury, but today a car is just a necessity.

What about the musicians, and comedians, they are now richer than they have ever been. The least amount for a show now in Nigeria is N5,000.

I walked by a shop the other day, and there was a plasma TV hung on the outside of the shop and rain was falling on the TV, a plasma TV. Do you know how long it took our parents to go from black and white TV to colour TV (like forever).
I can go on but let me stop here.

ducii:

I think Nigeria's middle class has grown and is still growing. Not every rich man in Nigeria actually stole money or is stealing money.
Look at the number of businesses that are springing up on a daily basis cities like Lagos, Onitsha, Owerri, Port-harcout.
Look at the number of Nigerian's going on vacation now in Nigeria, I think there was a report that came out, that Nigerians are the 3rd highest visitors to the UK spending over £200million on shopping.
The Nigerian Stock exchange capitalisation is at it's highest.
The banks in Nigeria is now more profitable than it has ever been. The pastors we have today are more richer than they have ever been, because when their congregation are making money, the churches are getting riches as well.
Before in Nigeria owning a car was luxury, but today a car is just a necessity.
What about the musicians, and comedians, they are now richer than they have ever been. The least amount for a show now in Nigeria is N5,000.
I walked by a shop the other day, and there was a plasma TV hung on the outside of the shop and rain was falling on the TV, a plasma TV. Do you know how long it took our parents to go from black and white TV to colour TV (like forever).
I can go on but let me stop here.

To the issue of assumptions and comparism, in those days you have to look at the budget and draw that pari-pasu the population - I think somewhere I read Gen. gowon reading a budget of N2m, for the whole of nigeria, then and from this same budget they built bridges and paid civil servants - imagine what it means in real terms - the issue of enlightenment is also coming into play people travel and they see how other display and market their items abroad and its just normal to bring the same thing with a view of developing nigeria (in a very competitive environment), back to the basics- onitsha/owerri were always known for trading- lagos has always been a commercial centre even before independence same as portharcourt for transport even if it was for slave trade, these do not form the yardstick for a growing middle class- people travel to the UK in search of a better life and opportunity - in some cases the opportunity to come back and get that extra edge over others- if someone came with a harvard certificate and applied for a job in the civil service they would almost make him an assistant director- banks would pay them fat salaries and that is because the system hasn't specialised yet (where you would have Bsc accounting and B. Applied accounting) - this same phenomena even happened in china* - and that's why people are spending so much to travel abroad- to the other issue of comedians and artists that the least amount for a show is 5k, have you forgotten, what their overhead costs are they pay for the venues and other miscellaneous costs, and I wouldn't want to talk about the attendance, because I know they give a lot of free tickets (radio stations, game shows etc) so they are really not as settled as you think- come to think of it, their talent is just for some time- 5yrs max - and another kid or guy is on the block - temporary jobs* (eg alibaba then and basket mouth now) why do you think they are all going into politics they need something more permanent-

ducii:


I can't make out what you have written, it makes no sense at all.

Sorry about my typo- my keypad was playing tricks with me, and I didn't bother to re-read;
I don't think I said every rich man stole money what I said is if their supposed middle class are been measured based on the civil servants, who are buying houses in estates that are springing up, which is the only data they have(or do they have another, oil and gas and banks less than 20% of the total population) - then they are dealing with those that stole money to buy these properties, how would you explain a level 14 chief procurement officer with a salary of 100k and a family of 3kids, owning 4 choice cars and a house worth N30m even if his wife earned 150k a month (dem no go chop, child no go -go school, dependants nko?) - I would have loved to give you figures of their salaries if I can find it and the properties they are buying as a comparism* not all thou! A thriving middle class can only be measured accurately by the amount of taxes being paid and not the cars they buy and this can be gotten from their business returns- and nothing else.
Finally the capital market is growing but not from investments by average nigerian's it is coming in by profit takers - the foreign direct investment (FDI) that government has been talking about- foreign investors most of the time would not go into industries because they don't want to weather the storms what they do is they take their money and go to the capital market look at organisations that share similar processes with theirs and invest in it- I am also a broker, apart from being an entrepreneur* so I should know this better-

olajide8:



To the issue of assumptions and comparism, in those days you have to look at the budget and draw that pari-pasu the population - I think somewhere I read Gen. gowon reading a budget of N2m, for the whole of nigeria, then and from this same budget they built bridges and paid civil servants - imagine what it means in real terms - the issue of enlightenment is also coming into play people travel and they see how other display and market their items abroad and its just normal to bring the same thing with a view of developing nigeria (in a very competitive environment), back to the basics- onitsha/owerri were always known for trading- lagos has always been a commercial centre even before independence same as portharcourt for transport even if it was for slave trade, these do not form the yardstick for a growing middle class- people travel to the UK in search of a better life and opportunity - in some cases the opportunity to come back and get that extra edge over others- if someone came with a harvard certificate and applied for a job in the civil service they would almost make him an assistant director- banks would pay them fat salaries and that is because the system hasn't specialised yet (where you would have Bsc accounting and B. Applied accounting) - this same phenomena even happened in china* - and that's why people are spending so much to travel abroad- to the other issue of comedians and artists that the least amount for a show is 5k, have you forgotten, what their overhead costs are they pay for the venues and other miscellaneous costs, and I wouldn't want to talk about the attendance, because I know they give a lot of free tickets (radio stations, game shows etc) so they are really not as settled as you think- come to think of it, their talent is just for some time- 5yrs max - and another kid or guy is on the block - temporary jobs* (eg alibaba then and basket mouth now) why do you think they are all going into politics they need something more permanent-



Sorry about my typo- my keypad was playing tricks with me, and I didn't bother to re-read;
I don't think I said every rich man stole money what I said is if their supposed middle class are been measured based on the civil servants, who are buying houses in estates that are springing up, which is the only data they have(or do they have another, oil and gas and banks less than 20% of the total population) - then they are dealing with those that stole money to buy these properties, how would you explain a level 14 chief procurement officer with a salary of 100k and a family of 3kids, owning 4 choice cars and a house worth N30m even if his wife earned 150k a month (dem no go chop, child no go -go school, dependants nko?) - I would have loved to give you figures of their salaries if I can find it and the properties they are buying as a comparism* not all thou! A thriving middle class can only be measured accurately by the amount of taxes being paid and not the cars they buy and this can be gotten from their business returns- and nothing else.
Finally the capital market is growing but not from investments by average nigerian's it is coming in by profit takers - the foreign direct investment (FDI) that government has been talking about- foreign investors most of the time would not go into industries because they don't want to weather the storms what they do is they take their money and go to the capital market look at organisations that share similar processes with theirs and invest in it- I am also a broker, apart from being an entrepreneur* so I should know this better-

Ok Thank God you are a broker, how has the local participation in Nigeria been doing, I think local participation is around 40% of total investments in the NSE (it has never been that high), so my thinking is that very soon you will have more local participants than you will have international investors.

ducii:


Ok Thank God you are a broker, how has the local participation in Nigeria been doing, I think local participation is around 40% of total investments in the NSE (it has never been that high), so my thinking is that very soon you will have more local participants than you will have international investors.

I want to be very honest with you - local investors are not investing in the capital market so much, they have this belief that they are gambling- its a challenge to brokers, because of the charges that accompany small investors in the capital market, not to forget small investors also come with a lot of competence issues- seriously I need clients! Now to the supposed middle class - most people that are investing are institutional investors (where as a real middle class would have pushed the market to another level, if not the biggest in africa), now I may have to tell you to check out the abridged annual reports of organisations (eg zenith bank or N.Breweries) and look at unclaimed dividend payments, you would see a name of an individual, and the clearing houses name after- they are investing as an institution- look at the figures and compare it against big time investors like otedola, oba otudeko, dangote et al - and then you would understand the principle of banking that says, that returns/interest/profit are generated by 20% of the customers a bank has while 80% just bank- it also applies to the stock market 20% generate the turn over while the 80% are onlookers in the market- that's for want of a proper word- so don't get it wrong FDI form 60% big investors like dangote et al control 30% while the supposed other control 10%(the local investors).

ducii:


Ok Thank God you are a broker, how has the local participation in Nigeria been doing, I think local participation is around 40% of total investments in the NSE (it has never been that high), so my thinking is that very soon you will have more local participants than you will have international investors.

I want to be very honest with you - local investors are not investing in the capital market so much, they have this belief that they are gambling- its a challenge to brokers, because of the charges that accompany small investors in the capital market, not to forget small investors also come with a lot of competence issues- seriously I need clients! Now to the supposed middle class - most people that are investing are institutional investors (where as a real middle class would have pushed the market to another level, if not the biggest in africa), now I may have to tell you to check out the abridged annual reports of organisations (eg zenith bank or N.Breweries) and look at unclaimed dividend payments, you would see a name of an individual, and the clearing houses name after- they are investing as an institution- look at the figures and compare it against big time investors like otedola, oba otudeko, dangote et al - and then you would understand the principle of banking that says, that returns/interest/profit are generated by 20% of the customers a bank has while 80% just bank- it also applies to the stock market 20% generate the turn over while the 80% are onlookers in the market- that's for want of a proper word- so don't get it wrong FDI form 60% big investors like dangote et al control 30% while the supposed other control 10%(the local investors).

olajide8:

I want to be very honest with you - local investors are not investing in the capital market so much, they have this belief that they are gambling- its a challenge to brokers, because of the charges that accompany small investors in the capital market, not to forget small investors also come with a lot of competence issues- seriously I need clients! Now to the supposed middle class - most people that are investing are institutional investors (where as a real middle class would have pushed the market to another level, if not the biggest in africa), now I may have to tell you to check out the abridged annual reports of organisations (eg zenith bank or N.Breweries) and look at unclaimed dividend payments, you would see a name of an individual, and the clearing houses name after- they are investing as an institution- look at the figures and compare it against big time investors like otedola, oba otudeko, dangote et al - and then you would understand the principle of banking that says, that returns/interest/profit are generated by 20% of the customers a bank has while 80% just bank- it also applies to the stock market 20% generate the turn over while the 80% are onlookers in the market- that's for want of a proper word- so don't get it wrong FDI form 60% big investors like dangote et al control 30% while the supposed other control 10%(the local investors).

Hmm didn't know that thanks for that insight.
I think the smaller investors are weary, so that a repetition of the nightmare they faced in 2008 does not re-occur again.

I know now that liquidity is very tight in the market, I will attribute this to the performance of the market so far this year.

ducii:



Hmm didn't know that thanks for that insight.
I think the smaller investors are weary, so that a repetition of the nightmare they faced in 2008 does not re-occur again.

I know now that liquidity is very tight in the market, I will attribute this to the performance of the market so far this year.

Coming back to it "inflation"- its the total squeeze on the good inflation, and the tighten of the economy by mopping available liquidity by this incompetent managers of the economy that is killing the economy- while hiding under the guise of reducing inflation they have actually reduced the disposable income (which may have been put, to savings for long and short term, by the supposed middle class) and this middle class -investors are the ones that would/should have actually driven the market- its a vicious cycle! - now the poor don't have money to invest, because they are struggling to survive and no matter how sophisticated the market is and would have been in terms of depth and width to all players, they can't afford to invest - and the super rich that can afford it, continue to invest and take profit (forbes list and otedola $385m btw 6months), because of the availability of funds for them and governments policy of reducing inflation which affects the majority as they are below the threshold of financial independence*- if a middle class existed their would have been equitable distribution of wealth, as they would have also been players in the market* the 2008 phenomena is not far fetched FDI and economies needed to take profit from other parts of the world to meet up their local debts payments -so they took the money and moved around with it- how do you explain the argument b/w otedola and dangote and the crashing of the value of the shares of AP- by dangote then* real business intricacies