Kingsley Moghalu Reveals The Problem With The Naira - Business (2)

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Kingsley Moghalu Reveals The Problem With The Naira - Business (2) - Nairaland

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Re: Kingsley Moghalu Reveals The Problem With The Naira by Pusyiter(m): 9:54am On Jan 26

Interestingly, there is no President that does not have good intentions
The challenge has been good political will to bring change
When you want to bring change and see it will affect someone very close, you change tactics
This is why we will continue to clamour for the restructuring of this country
If not, we will keep being keyboard warriors

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

1 Like 2 Shares

Re: Kingsley Moghalu Reveals The Problem With The Naira by alimiadedayo1: 9:55am On Jan 26

Piroty:
Just start to learn trading so u can benefits from dollar increase and ur trading skills

what kind of digital trading can I start to make money

Re: Kingsley Moghalu Reveals The Problem With The Naira by Oluwolemusic: 9:56am On Jan 26

How can you build a export based economy when you have not even produced enough to meet the local peoples need in your country,is when you have produced enough to meet the needs of the locals first and you have surplus that you can export the rest to other countries of the world,this is how the economy of a nation is stabilized America have done it china have done it we can do it

Re: Kingsley Moghalu Reveals The Problem With The Naira by Blazebond(m): 9:56am On Jan 26

They always have solutions to problems while outside from government but suddenly develope amnesia to those problems while inside government.

1 Like

Re: Kingsley Moghalu Reveals The Problem With The Naira by onyekabe(m): 9:58am On Jan 26

Cameroon Niger and some west African countries don't export anything and yet Thier currency is stable. Why is it so

3 Likes

Re: Kingsley Moghalu Reveals The Problem With The Naira by Yankee101: 10:03am On Jan 26

They steal in dollars now

Re: Kingsley Moghalu Reveals The Problem With The Naira by Bintasukai: 10:04am On Jan 26

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

Pure making sense post.

2 Likes 1 Share

Re: Kingsley Moghalu Reveals The Problem With The Naira by Evolutionism: 10:05am On Jan 26

Qadaffi2idiamin:
Ah...

"Political will power"

What the druggie and his group of bandits lack.

You can't give what you don't have. Nigeria is so untapped especially the non oil sectors.

Just try exporting anything from and see the level of corruption, bottlenecks and unnecessary delays you'll experience and you won't try it again.

These old men that went to school free and closing and unearthing the road so others won't even go there.

Thunder fire all urchinz anyway!

Re: Kingsley Moghalu Reveals The Problem With The Naira by blacknp(m): 10:05am On Jan 26

Evolutionism:

There is no need to start using big big grammars to explain the obvious stupidity and uselessness of the most populous dark nation.

Even an average JSS3 Student will explain this issue flawlessly. It's simple ECONOMICS.

There is nothing you can do when you have useless and stupid beings in corridors of POWER and to cap it all highly Ignoramus and docile citizens.

Yes it happens, Not all Power Grabbers are Highly Intellect.

And the Westerners and Asians are capitalizing and leveraging on the Stupidity, Insatiable Greed and Uselessness of these current Power Grabbers.

Na who go see SURE MUGUNs wey hin no go leverage and manipulate them

You know all this, yet you are on Nairaland wailing?

Not surprised, Empty Barrels will always make the loudest noise.

Re: Kingsley Moghalu Reveals The Problem With The Naira by EreluRoz: 10:05am On Jan 26

Pusyiter:
Interestingly, there is no President that does not have good intentions
The challenge has been good political will to bring change
When you want to bring change and see it will affect someone very close, you change tactics
This is why we will continue to clamour for the restructuring of this country
If not, we will keep being keyboard warriors

The only true and unbiased change Nigeria need is revolution and not repackaging old corrupt leaders

1 Like 1 Share

Re: Kingsley Moghalu Reveals The Problem With The Naira by Evolutionism: 10:09am On Jan 26

Dougad:
We think we are having it bad and rightfully so. Lmao. I just weep for the future generations coming cos this will be like paradise compared to what will be left for them.

Those ones will be eating sands and raw leaf.

2 Likes

Re: Kingsley Moghalu Reveals The Problem With The Naira by Emilo(m): 10:09am On Jan 26

I was so shocked that in 2023 Nigerians were celebrating Dangote oil refinery. When other mega oil companies like Shell and Total were diversifying into renewable energies. Okay, no problem as oil n gas is not going away soon. What about electricity? Nigeria need stable electricity to get manufacturing started. If that is only what Tinubu can do sef e try.

1 Like

Re: Kingsley Moghalu Reveals The Problem With The Naira by Angelfrost(m): 10:10am On Jan 26

onyekabe:
Cameroon Niger and some west African countries don't export anything and yet Thier currency is stable. Why is it so

Local production! Simple.

They don't operate a highly "Dollarized" economy like Nigeria.

Most Nigerians in Nigeria literally depend on the Dollars like it is oxygen.

In addition, a lot of these nations invest themselves in trans-Africa trades which doesn't require devaluing their currencies while meeting their needs.

Re: Kingsley Moghalu Reveals The Problem With The Naira by DMerciful(m): 10:10am On Jan 26

Just say from consumption to production rather than big grammer

1 Like

Re: Kingsley Moghalu Reveals The Problem With The Naira by Emilo(m): 10:11am On Jan 26

Evolutionism:

Those ones will be eating sands and raw leaf.

All the thought of my children future made me japa to Canada. Now i look at my kids in school and I'm proud pf myself. Everyday i watch Arise Nigeria news i say thank you God for removing me from hell/shit hole!

Yesterday for office i made my Nigerian brothers laugh. E get one door all of us dey use go launch room. A day that door is opened more that 100 times. Since i started working over a year now the door has never made any sign of fault. No noise, no dent. I tell them say if na Nigeria dem for don replace that door like 10 times because the carpenter go don buy fake door n nuts 😀😀

9 Likes

Re: Kingsley Moghalu Reveals The Problem With The Naira by BreconHills(m): 10:11am On Jan 26

Angelfrost:
This is precisely what I have been talking about on the other thread.

This was my comment/response to @Datedoboy in that thread below:

Correct. People don't want to admit we've been part of the problem. Government and political officials don't want to lead by example. Citizens want to keep their little pleasures.

Nigeria's economic problem is largely a human / mentality sized problem.

2 Likes

Re: Kingsley Moghalu Reveals The Problem With The Naira by chidiokay: 10:11am On Jan 26

Piroty:
Just start to learn trading so u can benefits from dollar increase and ur trading skills

Asides Nigeria infavourable balance of trade, another major problem are people like piroty and big players who now see Dollar are a great store of value against the Naira

Major stakeholders now save there money in dollars for soft profit & longer investment, the more people plug into these mentality the more it fosters the conspiracy against the Naira

1 Like

Re: Kingsley Moghalu Reveals The Problem With The Naira by zrocky: 10:12am On Jan 26

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

we keep blaming the youths. When there is no enabling environment for youth development. how will the youth bring something meaningful to the economy. I have lived abroad for years and I am yet to see a single youth fighting for a better government, it is the older ones that tackle the government while the youths focus on self development and enjoy their youthful years

How many youths are employed or better if I make ask with respect no pun intend how many jobs have you and i where dey established done created. Even if you own your business how long did it take you to create one. Life is a process. It took my boss back then in Nigeria
over 20 years to save and start his business. At the age of 21 he was working at pesi, he was paid well, he could save. The same thing with my parents all where working in their early 20s and they all had their business.

But today in Nigeria a poor man child who will do well in jamb can't even get admission with ease because of tuition fees. They are so many 40 years Olds looking for anything to keep them busy. And mind you for most of the successful ones like us na abroad we dey the make and or with the already family business.

The growth process has been cut of. Just imagine Betta Edu just 1 year she graduated as a doctor she became special adviser to the governor of cross river state, tell me what experiences or qualifications will warrant such appointment. We have so many skilled professionals but because of corruption they can contribute to the economy.

So please give the youths a break. The richest men and women in Nigeria are all criminals and beneficiaries of the corrupt system on ground. All this adeleke money, eh dangote Mike adenuga, obi Cubana them check them and you will see.

So please let's give the Nigerian youth a break. We protest with hunger them kill us. Even the sowore their time see food chop before them protest or no be so.

Abeg give us a break jare

3 Likes

Re: Kingsley Moghalu Reveals The Problem With The Naira by Badgers14: 10:14am On Jan 26

We know what is right in thus country but won't do it....

Saudi Arabia have billions of oil reserve more than Nigeria but in the past 10 years, they have been aggressively diversifying thier portfolio and investments to avoid total reliance on oil.

In addition to this , the Nigerian government does turn blind eyes where there's an obvious room for improvement like the over reliance of dollar.

Yesterday We heard from former deputy governor of Kano state that BDC is unregulated sector, CBN doesn't know what is going on there.. they pick up money from the government house with bullion vans in broad day light..

When one go to pay their kids school fees or their supplier abroad.. they bank says they don't have dollar and give them BDC agent to contact to buy the dollar..

The customer comes back to the bank to deposit the dollar purchased from BDC .. then the bank turns around to sell the dollar to the BDC and the circle continues..

Why can't customers just walk into their bank and initiate the wire transfer? Their bank withdraw the money from their account in naira and transfer abroad at an official rate?

It is not like the bank will pack up the cash and travel to China to deposit the money in bank of China, the transaction is done electronically.

So why then do customers need to go to BDC to buy dollar to deposit for the transaction

Abachas loot, what did the government do with the money?

Had they targeted that the Abachas loot would be used to enhance the power sector and national grid to make sure the country has sustainable 24hr powers supplier that would inturn decrease the cost of doing business and create more employment..
But no, they listed big big name white elephant project for the money all to reloot the loot..

Re: Kingsley Moghalu Reveals The Problem With The Naira by gabrielmorinho(m): 10:15am On Jan 26

Angelfrost:
This is precisely what I have been talking about on the other thread.

This was my comment/response to @Datedoboy in that thread below:

Sir, You are a practical professor. You have successfully given solution to Nigerian Naira problem and 70% solution to the nigerian economy. Don't worry the time is near. A revolution is underway this year with alfa from South East and North West.

The revolution vehicle has been set on motion by the current economic heat, questionable political policies by the current government and agitations for sovereignty and many more.

Re: Kingsley Moghalu Reveals The Problem With The Naira by Evolutionism: 10:16am On Jan 26

Emilo:

All the thought of my children future made me japa to Canada. Now i look at my kids in school and I'm proud pf myself. Everyday i watch Arise Nigeria news i say thank you God for removing me from hell/shit hole!

I help you thank God lol grin

You won't be able to appreciate this breakthrough enough no matter how much you try. Believe me.

3 Likes 1 Share

Re: Kingsley Moghalu Reveals The Problem With The Naira by ppogba: 10:17am On Jan 26

1Alex:
I did not vote for Tinubu but truth be told, he seems to have good intentions. I am 100% obidient but since court has decided, I have to support him, if he succeeds, it's for the good of all of us. I have entirely nothing to gain if he fails.

Wonderful comment.
Kudos especially for your last statement.

Whether you are home or abroad, the success of any government in your country should supercede all religious and ethnic biases.

Once again, kudos for your last statement.

1 Like

Re: Kingsley Moghalu Reveals The Problem With The Naira by Splashme: 10:17am On Jan 26

Terrible

Re: Kingsley Moghalu Reveals The Problem With The Naira by Emilo(m): 10:18am On Jan 26

Evolutionism:

I help you thank God lol

You won't be able to appreciate this breakthrough enough no matter how much you try. Believe me.

My brother, to even think i was battling my wife that we do not need to leave the country that Nigeria will get better. My wife fight me until i send her to school. Now i dey thank her everyday.

4 Likes

Re: Kingsley Moghalu Reveals The Problem With The Naira by Piroty: 10:19am On Jan 26

alimiadedayo1:

what kind of digital trading can I start to make money

Fx trading, although u will have to learn very well first

Re: Kingsley Moghalu Reveals The Problem With The Naira by Angelfrost(m): 10:20am On Jan 26

BreconHills:

Correct. People don't want to admit we've been part of the problem. Government and political officials don't want to lead by example. Citizens want to keep their little pleasures.

Nigeria's economic problem is largely a human / mentality sized problem.

Nigerians are a special breed of insensitive, selfish, and greedy people.

That's why it will take very honest, morally standing, and no-nonsense leadership from federal to state to set them right.

If the right decisions and difficult moves are made from the top, the citizens won't have a choice but fall in line.

1 Like

Re: Kingsley Moghalu Reveals The Problem With The Naira by ppogba: 10:21am On Jan 26

Angelfrost:

Local production! Simple.

They don't operate a highly "Dollarized" economy like Nigeria.

Most Nigerians in Nigeria literally depend on the Dollars like it is oxygen.

In addition, a lot of these nations invest themselves in trans-Africa trades which doesn't require devaluing their currencies while meeting their needs.

Just to add to your point is the fact that Dollar is now almost our medium of exchange. Some high profile schools are demanding fees in dollars while some apartments are paid for in dollars.

The major problem seems to be, we all claim to love this country but the opposite is clearly the true position

Re: Kingsley Moghalu Reveals The Problem With The Naira by anungangampu: 10:23am On Jan 26

Put in simple words,

The Nigeria economic saga needs a political will. You can't give what you don't have.
Since Nigerians doesn't care who is their president as far He is not an igbos man. We would always suffer economically as this mentality gives power to lootocrats.

Re: Kingsley Moghalu Reveals The Problem With The Naira by Iykopee(m): 10:23am On Jan 26

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

Prayer doesn't solve any problem. Other countries are producing, rather than hold your leaders accountable, u are suggesting prayer as panacea for Tinubu's emptiness..

Re: Kingsley Moghalu Reveals The Problem With The Naira by yinkeys(m): 10:24am On Jan 26

External forces meddling with our policies
Politicians doing the bidding of World Bank etc
Poor leadership & management skills
Not diversifying economy
Not refining petroleum to full capacity

Re: Kingsley Moghalu Reveals The Problem With The Naira by ppogba: 10:24am On Jan 26

With all sense of humility, this topic seems to me the topic with the most assemblage of sensible, matured and reasonable commenters so far.

Let us hope it continues like this

Maybe the children are still sleeping.

Re: Kingsley Moghalu Reveals The Problem With The Naira by LivingLight(m): 10:24am On Jan 26

High valued point noted.

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