ednut1:
a case of you wanting to sound clever. Which investors will come invest where the average person can’t afford it. With all the subsidies minimum wage has not increased, all this one na wishful thinking. Nothing this administration has done shows they have a plan for economic growth 🤣

Investors would invest when they can recoup their investments. Would you invest billions into a biz and be told you can't charge cost reflective rates because the government has set a cap? The biggest stumbling block isn't the availability of would be energy users.

Tons are Willing to pay the rates. Heck TOFA was supplying lots of houses and businesses in VI alternate power as far back as 2018 and they were charging N140 per kwh when diesel was still around N600/litre.

Also aren't Nigerians already spending the money on diesel/petrol? Every single house on a block of street in Lagos has a generator. Even if they ran at least for an average of 6 hours daily. They would spend nothing less than N40k monthly on petrol and maintenance costs. That's not inclusive of how inefficient those power sources are and the attendant noise?

The usual rhetorics of poor people, minimum wage is just shortsightedness. Even if minimum wage was to be moved to 200k today. How many Nigerians work in the formal sector where this would reflect their pay immediately? The government doesn't need to want progress. They should hands off power and just be a regulator that ensures fairness for both consumers and power companies.

We have been subsidizing energy for 40 plus years and still can't guarantee even 12 hours across country. But nah, Let us continue the same insanity and expect miracles.


For any discerning minds. Just go through this. https://twitter.com/ugodre/status/1612040921377558528?t=667e3nGW3ENxZcIc85kRJw&s=19

ednut1:
My electricity bill in canada is 1.25% of my monthly income. The average Nigerian is not earning that amount

Ontario has Nuclear plants so power generation is much cheaper. Also you aren't factoring other costs into your income to energy consumption details. Economics of scale also plays a lot in this. Lots of industrial users in Ontario subsidize the rate for household energy costs.

So common sense is to increase cost reflective rates so we can have investors come in to improve power. We would never develop without 247 electricity and would continuously lose companies due to poor power. So it is either you increase rates, get new entrants, generate and transmit more or keep tarrifs at these rates and wail for another 40 years about poor power supply.

The funny thing is we are just subsidizing electricity for the rich and keeping the poor poor. No guaranteed electricity, no development, no jobs.Your average person earning 30k minimum wage isn't consuming more than a tv, light bulb and fan. It is the rich who can comfortably afford these thing thay have tons gadgets, AC, washing machines, dryer, chandeliers and whatnot that we are currently subsidizing while punishing the whole country with epileptic power.


We should learn to look at the bigger picture instead of in front of our noses only.

The stupidity of this comparison knows no bounds. I really do no not want to respond to this but it seems like a lot of Nigerians seem to live in a bubble and don't really understand the way things work.

Minimum wage N2.3 million in Calagary? Lol, should we tell these people? And nah Electricity cost isn't the only thing you weigh against income. Even the cost shown here is false. You are comparing the norminal fee. Have you factored in rate rider, transmission and distribution fees that come with the average electricity bills in these countries?

Did you also compare House rent, waste management ? Property taxes? Sales taxes? And factored what chunk those take out of these minimum wage? Ordinary photocopy you would pay sales tax, even to pump your tire you would pay sale tales. Heck car wash would deduct sales tax. Asides from VAT on some goods purchased and payee by a select few, what taxes do Nigerians even pay? So how do you expect to maintain infrastructure?

Almost 90% of Nigerians don't pay any taxes but want the same level of services as if these utilities don't cost money. Ordinary N500 lawma fees 90% of people won't pay in Nigeria but expect a clean environment, good and regular service. The truck being used is imported, maintenance kits is imported. But nah, I want it to be free and government should perform magic.


This is an ordinary electricity bill for a home so that when you are comparing you make informed decisions. And don't even get me started on other utility bills.

The only way to get electricity is to pay the real rate of things. The subsidies in place are in fact a disservice to Nigeria. Instead of focusing on areas of growth, we are subsidising consumption.


Thankfully a lot of Nigerian youths are getting visas overseas and are learning the hard truth about how things work. Hopefully they are able to pass this message or bring back these knowledge to Nigeria to help remove of us from the shackles of the inefficiencies we tie ourselves to.

Massiveglory:
I hope this fire brigade approach will not land naira to 3000 to a dollar.
Is this the way to attract investors?
This fire brigade approach could give you tempoary reliefs but greater problems.

I should think this approach and strength should be tailored more into shifting Nigeria from a consuming nation to a producing nation and strengthening institutions to curb corruption to bearest minimum begining from the top.

If you the leave root of the problem in the nation and begin to cut off the branch with all your strength, it is more of using a basket to fetch water.

Name the fdi Binance and crypo is facilitating for Nigeria. Name one investment in the real sector that their platforms have enabled.

Now we are talking. About time.

And for all those saying we need FDI. Please list one single functional business Binance has facilitated the injection of foreign investment into the country. Just one functional investment in the real sector of the economy.

List one single country where arbitrage and non beneficial money trading helped grow the economy.

We all shout of kidnappings and ransome and wonder how terrorists are financing their gun running

RepoMan007:
So official market is 80 times bigger than binance, yet people look up to binance for guide.
To cap it off, binance can be easily manipulated.

Same thing we have been saying since that all these useless kids without common sense on Twitter are just yapping rubbish.

Volume of trade of the official market on average day is $200M. The maximum trade on Binance is $2M per day. How is Binance now dictating the rates of dollar for an economy of 200 Million people? If it were not pure manipulation. Why is trade volumes not determinant of market rates. I honestly don't know why the CBN is playing around.

If anything , even having an install of any crypto app on your phone should lead to automatic freezing of your account in Nigeria. All these Lemfi, Pasepeer, exchange companies pulling rates from such markets should have their licenses pulled and prosecuted. It's common sense.

onegig:
Now government is thinking. Took them too long. There's multiple issues to tackle here. How do these companies source FX, post fx and model of determining rates.

Lemfi, Passepeer , AfriXchange and all other fintechs use USDTNGN or some arbitrary rates to change. The processes of how those rates were determined is opaque and sometimes ridiculous. T

The money does not get into the official system. Most money exchange in the world use a variation of small margins and charge you a transaction fee or percentage of the total fee as transaction charges.

I am all for fintech developments but we should do such within the law. Where in the world does an app determine an exchange rate they would use arbitrarily? And the CBN was watching them. Also why are we allowing "Microfinance banks" to offer exchange services?

Wise.com which is one of the largest exchange business in the world charges a % and not some arbitrary fees.


We have to understand how we are an import dependent country and should be working on protecting vested interest from causing running inflation against 200M people.

And don't get me started on Cryptocurrency and whatnot. We saw how USDTNGN jumped from 1200 to 850 in a matter of days. Not a single fundamentals or technicals dictated the price points. Just people manipulating such rates and we(Government)allow such to dictate our economy and lives.

Everyone can see the story of Binance and USDTNGN out in the open. We would be the most unserious country in the world if we don't ban crypto currencies or what not in Nigeria. If anyone trades crypto in Nigeria they should face criminal offences.

Nigerian government should also pursue those exchange companies like Binance and whatnot. Work with the US government and lay terrorism finance and money laundering charges against the companies. Doesn't take you less than 6months to get them under the carpet.

david22uu:
This is a very bad PR for the country, You just scared away any real investor

So i invest in your country ad you tell me i have to wait for 90 days to pull out the remaining 50% of my profit not for any reason but to boost Liquiduty ... This is MMM

A lot of you just talk without even reading up on things. Why are we so confident with spouting information when we do not have an understanding of it? Almost all countries have “exempt surplus” (“ES”) when it comes to funds repatriation to parent companies. Even some have extra level of taxes to discourage you moving such funds and keeping it local.

The only qualm I would have with this new CBN guidelines is the inconsistencies it creates in the markets. Businesses love stability in rules and regulations especially when it comes to finances. Cashflow is a big deal and lots do have multi year projects that such funds finance. To have such changed in such a short time is a big issue.

.

I honestly don't know what the Senate wants to do.

Every single day we receive new information and should be able to look at our processes and see if what we were doing makes sense. We have been defending the naira since 2010 with FX and we have got nothing out of it.

Every single person is worried about rising debt. The last administration racked up debt to about $150 billion. We largely have nothing to show for it. And lots of that went to subsidy payments and defending the naira.

Would it be sane to be borrowing $ to defend an arbitrary rate of naira? We still have about $6bn outstanding that the CBN has not been able to clear. Oil production is almost at an all time low of 1.3million barrels so we don't even have excess crude funds to leverage on. So where exactly do they expect us to get funds to stem the tide?

Asides food inflation that I am largely concerned about and wished we can quickly solve the bandits issues and secure a much more stable local source of food so swings in exchange doesn't affect food inflation. But asides that, there's no miracle to be performed. We have to cut our reckless spending and need for foreign goods and start looking inwards. We have been saying this for 20 years but never implemented it because of cheap dollars, maybe the increased exchange rates would actually force our hands to go back to the basics. You can't be a 200million population and import virtually ever single thing.

Now government is thinking. Took them too long. There's multiple issues to tackle here. How do these companies source FX, post fx and model of determining rates.

Lemfi, Passepeer , AfriXchange and all other fintechs use USDTNGN or some arbitrary rates to change. The processes of how those rates were determined is opaque and sometimes ridiculous. T

The money does not get into the official system. Most money exchange in the world use a variation of small margins and charge you a transaction fee or percentage of the total fee as transaction charges.

I am all for fintech developments but we should do such within the law. Where in the world does an app determine an exchange rate they would use arbitrarily? And the CBN was watching them. Also why are we allowing "Microfinance banks" to offer exchange services?

Wise.com which is one of the largest exchange business in the world charges a % and not some arbitrary fees.


We have to understand how we are an import dependent country and should be working on protecting vested interest from causing running inflation against 200M people.

And don't get me started on Cryptocurrency and whatnot. We saw how USDTNGN jumped from 1200 to 850 in a matter of days. Not a single fundamentals or technicals dictated the price points. Just people manipulating such rates and we(Government)allow such to dictate our economy and lives.

The last time I ate anything in Lagos bought in traffic was prolly 2017 or so. There was this nice popular brand of chips then. Bought it sealed but when opening it felt off. Tasted maybe two chips and knew something was off. That was the only two i swallowed. Looked all good and fine but it tasted odd. Woke up that night to serious stomach pains. Knew I had food poisoning from the Plantain chips. Took almost a week to fully heal and regain my strength

I don't eat suya(lots of those selling, don't even have houses. They defecate on the streets, don't take their baths or follow basic hygiene. Just take a look at under their fingernails and you would see how dirty it is. Same hands they would use to prepare Suya without gloves or anything. I would rather take soda, water and digestive biscuits when outdoors than any of those snacks. We need more local public health awareness and compliance especially when it comes to food preparation and selling to the general public. A lot of Nigerians are consuming things that could literally kill them.

lawani:


Only fools pay tax themselves without being forced

Only a fool will commit a crime and flaunt it online. You lot are just lucky Nigeria is the way it is. If Nigeria were to work the way sensible societies should work, a lot would be cooling their heels in a prison ward.

Tax laws aren't as fast as the new developments in the society, doesn't make evasion of clearly defined laws legal. Messi, Aguero and other players getting jail sentences in Spain because of tax evasion knew what they were doing. If we are asking better from Leaders, citizens should also do their best to conform to laws and regulations.

See why Nigeria can never move forward. We want overseas treatment and services but not pay the basic requirements of us. See all of them making noise about not paying taxes and skimming it and even calling someone who's asking to do the right thing names.

What makes you different from all the politicians stealing? Because not paying your due taxes is actually stealing. Later they would come here frosting in the mouth and shouting that the country is bad without considering the little efforts they carry out in their own personal spaces that continues to damage the country. Taxes are a requirement as a citizen. If you are making money in Nigeria even though remotely you are required to pay taxes. Yes the services aren't optimal but roads(no matter how bad and limited), security are funded from taxes.

Can't wait for FIRS to sit up and start requiring mandatory tax return filings yearly. Tie NIN to Taxes. If you don't file taxes , you can't get any services from government, can't register kids in school, can't apply for passports, can't get mobile services etc.


@op. What you need to pay is the PAYE and would go to your state of residence. Reach out to your State LIRS.

You can calculate estimates using this app.
https://ng.talent.com/tax-calculator

Afolavid:
About 2 months ago, I embarked on the longest road trip in my life, it was a Solo trip (Alone!). I drove from Eastern Canada to the West Coast via the Trans Canada Highway. This trip is over 5000km and it's 3days if you drive nonstop (takes a week with normal driving), this is about the distance from Nigeria to U.K, the amazing part.? I did it in 3 days - fastest ever possible!!!

On one of those days, I drove for over 15hours in the 24hours I had to myself. The Mind-blowing part is, I was physically present in 4 provinces in a single day (Manitoba > Saskatchewan > Alberta > British Columbia) and I changed timezones three times on that day while driving. I learnt a lot on this trip, I saw the vastness of this amazing country and I realized I'm actually tougher than I used to think.

I had an encounter with a Black bear on the 3rd day. Too many gist, too many videos, too many pics, It's overwhelming! The trip is daring and dangerous especially for a lone driver and it feels endless. Would I do it again? Most likely!

Wow. You must be a strong willed person to do it when it was almost winter. Done some stretch of that road late summer and it was blissful.

The best part of that drive is the Northern Ontario end and BC Mountains. It's fun but also crazily scary especially at dusk and dawn with all those crazy Moose in Northern Ontario and the windy, steep and curvy roads. Hundreds of beautiful lakes around these area.

Sas,MB and Alberta are just wastelands. You would almost sleep off on the steering wheel once you enter Manitoba. Just straight road with nothing left and right.

Your best bet to capture videos would have been Dashcams. Well done. Not easy. 5km in 3 days is crazy.

Make all the mistakes you want to make here. Just learn from the lessons and don't make the same mistakes. Also be wary of mistakes you make, there are some that can be fatal and you can't recover from so know that you can only take legal risks and make mistakes. Don't commit crime, it ruins your future and makes it a lot more difficult.

Material things should be the least on your priorities.

Small drops , makes an ocean. There's nothing like arrive big and make it big. It takes gradual, incremental iteration of doing little things to succeed. All those who arrived large without a gradual process would likely end up back at ground zero.

Enculer2:
Abeg experts in the house help me out here. The time to get our Canadian mobile is here and I need your advice.

We have used our French data for a few months now (20 euros per month) but it is time to get a Canadian mobile plan.

We used textme plus our French mone but time to do a full switch.

What mobile data do you use. We are in the GTA. Does 50 dollars à month for 40 GB with Freedom mobile make sense?

Huge gulf in mobile communication between Canada and France by the way. The gulf is scary.

Wait till Black Friday. Best time to get deals on Mobile data plans. Might even get a free phone inclusive.

@Anonymous1900. Simple as ABC. Limit donations to accounts created before 2015(if any account is older than 2015, they must have not been opened in the last 1 year and should have a minimum of 200 posts in multiple sections providing valuable input on the forum not just soliciting for help from one thread or the other). Doesn't remove the probability but does reduce the chance by at least 80% and weeds out the wannabes.

This is easily verifiable by just spending two minutes on each profile.

I understand the frustration in missing out on those who really need the help and have newer accounts but there are gangs out there who sit on online forums and twitter and their only task is to grift from people looking to help people.

It's a very tough thing to filter out but you want the funds going to the right people. You can't help everyone , so you sure do need to make sure whatever token is going to the right people.

I keep saying it.

This is the most stupidiest of all the petitions I ever seen. That anyone with an education would even come up with this is beyond belief.

And that senior lawyers and people who went to a University were parroting the same thing on National TV without shame shows the depth of how a lot of Nigerians can't remove bias from thinking and logically view things even when the evidence is as crystal clear as the Sun.

Sterope:
No. Just here for a while..

Nice
Welcome. Hope you enjoy your stay. What city?

Sterope:
Canada. I love it here. Is the right spot between US and the EU countries

Huh? You moved?

Nice one.

.

Firefox01:
Na only Ednut1 dey show us how life take be for Canada with pictures for this thread. Make una dey assist am once in a while na

We don't want to break Seun's server that's why everybody dey low key

Pitostab:
I forgot to ask, my school is in Vancouver. I just need an affordable apartment to stay, I don’t mind sharing.

Vancouver Vancouver and affordable don't go together unfortunately.

SIONKPO1:

Why must you have Maths and English before you can be Admitted to any school in Nigeria?

English is the official language of Nigeria . How do you want to read in class or understand lecturers?

Now tell me the Importance of Abuja votes that makes it better than the votes of someone from Jigawa or Rivers or Ekiti? What makes Abuja dwellers special? The appellation AND when describing a list of states and the FCT? would trump the constitution that states every single Nigerian is equal and voting rights is one of the cardinal points?

Understanding should not be this hard, we went to school not for route memorization but to be able to take details from multiple sources and make informed decisions.

Sky is blue doesn't mean is Sky is blue in every scenario. Sky is dark at night. The conjunction AND in a constitutional documentation doesn't mean COJOINED especially when it is used in listing items like the English Language dictates.

onegig:


Lol. If you failed English Language in Primary School that's your problem. I can buy you Queen Prima so you can go back to the basics.

The 36 States and FCT is a list of items . If you have a list of two or more items in English, the last comma is removed and replaced with the conjunction AND.

Example;

-3 States of the Federation and the FCT have declared Friday as public holidays.

Can also be written as below;

- The States of Lagos, Oyo, Ogun and the FCT have declared Friday as public holidays.

Or

The FCT and the States of Lagos, Ogun and Oyo have declared Friday as public holiday.

Other examples

- Please buy bread,milk and cheese.

To list out the 36 states one after the other by their names is absurd when those feature in multiple places in the constitution. Also a list can be arranged anyhow and does not need to have a form. The constitution could list the states Alphabetically starting with Abia,....and Zamfara where FCT would be listed under F. Would this mean someone also has to get 25% in Zamfara or they are not duly elected?

I say it again. Any SAN bringing such up is nothing but deluded and need to return back to English classes. These are beer parlour arguments not fit for a court of law. If i were to be the Judge to preside over this. Would ask the petitioners to go stand under the sun for 1 hour for waste of my time.



https://www.grammarly.com/blog/comma/#:~:text=Serial%20comma%20(Oxford%20comma),comma%20or%20the%20Oxford%20comma.


Even in Legal perspective, the concept of FCT being more equal than other states alone throws away the basic tenents of the Nigerian constitution and citizens rights that states that all Nigerians are equal and have equal rights to freedom of association and religion. Any SAN with common sense should know this but it's not unusual that we like to chase shawdows when we should be focusing on more productive things.

Lol Everyone with a common sense knew this. Honestly Agbakoba should be de-robed for bringing this rubbish up in the first instance.

Very silly argument to make when the constitution is clear. Why would someone in Abuja be different from Osun or have special voting privileges? Isn't that against the Basic tenets of the constitution that states all Nigerians are equal?

jacobs2015:
Not until these residents reason genuinely with their senses and ask their leaders some intelligent questions, they'll keep attributing this wide fire of a thing to a natural disaster.

A wide fire melting alloy rims of cars on the road in the US, yet the road made of asphalt remains untouched. The trees remain as calm as they could, yet they keep telling them it's as a result of dry wind and fuel present in the cars.

FYI, Russia has the highest number of trees in the world. Brazil has a higher number of trees than the US. Why is this wild fire prevalent in the US, Canada and sometimes in Australia? Is dry forest and woods not present in Africa? Why is there no record of such? Why only in America?

Aluminum has a melting point of over 600°C, bitumen is approx 550°C while asphalt max is approx 400°C. Yet, the so called wildfire is melting aluminum and even its alloy but can't melt asphalt/bitumen.

Anyways, the bigger the head, the bigger the ache. Let the weapon testing continue at the expense of the gullibles.

By the time this becomes a success, nuclear weapons will become outdated.

I honestly want to understand the thought processes of people like you and covidiots who have to form conspiracies out of every single thing even the most easily verifiable fact.

Who told you it is the alloy rims melting? When did car tyres melting turn to Alloy rims?

And where in the pictures have you seen trees untouched?

Funflipper:


Where was she found?

He be like say this girl dey loss dey find herself dey loss again. I was aware of the initial missing notice and the new notice that she was found about a week agai.

This was the press release from July 27th stating she was found.
https://www.tps.ca/media-centre/news-releases/located-missing-person-keele-street-and-the-pon/


And this is another new press release as of August 4th showing she was missing again.

https://www.tps.ca/media-centre/news-releases/56998/

Toor God would help find her.

Old stale news. She has been found. Make una dey verify news before posting.

Modified.

She is missing again. Was initially found July 26th but now missing based on an update from August 4th.

https://www.tps.ca/media-centre/news-releases/56998/

descartes400:


It is laughable calling Russia debt forgiveness of some African countries trash! but will praise sing the west to high heaven for their own debt forgiveness?

Regardless of your pro west perception, the somalia nation are very grateful to russian

Take time to open the link you shared and read.

Jama added that, under the agreement, part of the debt would be immediately written off while part would be subject to a rescheduling of payments.

Let Somali come out and tell you what fraction of the $684million owed Russia was cancelled . The more laughable thing is you expecting Russia as cash strapped as they are to go ahead and create an $8billion dollar nuclear facility in Niger Republic because of Uranium deposits, a mineral Russia itself has in abundance and mines.

descartes400:


Russia can write it off as debt na, afterall dem just forgave some african state debt of about $23billion, besides, dem fit collect some Uranium too and help Niger to sell to those european countries like france who needs it badly to power their own nuclear plants to generate energy. Russia can act as a middle man here. Cool business to generate some cool $ i tell ya.

Uranium isn't something that is that scarce. Heck tens of countries have large deposits of Uranium.

Also Uranium trade isn't something you just dig up and start touting on the international market. Mines are owned and operated by a company. You would have to revoke that and assign such mines to new owners. Canada , Mexico has been ramping up production of Uranium and should be able to cover any deficit of Uranium produced by Niger. It is not an easy task to switch but with the Ukrainian war , we have seen how countries have manage gas sales after the EU sanctions on Russia .

Believe the trash from Russia that they forgave $23b at your own Peril. They should state the breakdown and the countries they would give the money to.

Ugly.