|Join Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,739,935 members, 6,497,659 topics. Date: Monday, 20 September 2021 at 05:56 AM
|Politics / Re: NSCDC Destroys 13 Illegal Refineries In Rivers by 19naia(m): 4:19pm On May 07, 2016|
A government that cannot see to effective supply of petrol to people at fair prices, but they have time and ability to destroy people who decide to make the fuel for themsleves. They may argue that they want to stop illegal theft of crude oil, but how can that be true when they are all part and party to bribes and illegal theft of government funds along every step of the way. Nigeria cannot seem to find time and ability to keep it's own refineries up and running, but it has time and ability to shut down refineries of productive people who decide to make their own and keep it up and running. These illegal refinery people need to be given refinery licenses, granted investment cash and set free to expand Nigerias refined fuel production. That will solve Nigerias fuel supply crisis and create excess for export.
Nigeria has all kinds of people that are assets to productivity, but they are stifled by a governmnet that knows how to do nothing but grab power for itself and consume the nation's wealth. There will soon be no wealth remaining if actual productive people are not allowed to flourish.
|Politics / Re: Boko Haram's Fuel Suppliers Arrested By Army (photos) by 19naia(m): 4:07pm On May 07, 2016|
They should leave them out there with no food and supplies and allow them to cannibalize each other until the very last one remains and falls ill from cannibalism related diseases. They will know what terrorism is when they are terrorised by each other for cannibalistic interests.
|Romance / Re: What Would You Do If You Saw This In Your Girlfriend's Kitchen After Eating? by 19naia(m): 4:00pm On May 07, 2016|
Most drunkards are actually consuming large amounts of Ogogoro because they eat from kitchens like this and fear they will die if not for disinfecting their insides with strong and hot Ogogoro. Have pity on the drunkards, they may actually be warding off their own deaths from bad food from kitchens like this.
|Politics / Re: Buhari Is Allowing Other Ethnic Groups To Kill Our People - Miyetti Chairman by 19naia(m): 3:56pm On May 07, 2016|
Is dis d same way Buhari have allow fulani herdsmen to kill other ethnic groups for years now ,after invading other ethnic group lands with cattle and even kidnapping some such as in my home town with the man as stated in the photo. Killings of lagos people not so long ago, killing of Enugu people by the fulani herds men and the list goes on. At some point we have to ask, how many other ethnic groups are showing up in Hausa land to randomly invade land with herds of goats and kill hausa people along the way? Buhari, na cattle herder sef.
|Crime / Re: Police, Firefighters Abandon Man On Electric Pole (pics) by 19naia(m): 1:35pm On May 05, 2016|
All those cheap china illegal narcotic drugs being made in Aba. Use them and see where they will get you along side this man reaching high places. If the drugs had not removed all his senses, he would know that NEPA/PHCN is such a failure that there is no way he will succeed if his intention is to be electrocuted.
15 Likes 1 Share
|Politics / Re: Kubwa Terminal Of Abuja-kaduna Rail Network (pix) by 19naia(m): 5:24pm On May 04, 2016|
Its all fine and wonderful for the people to benefit from it, but did Goodluck lay a single brick? Did he carry a single bag of cement? Did he pound a single nail or turn a single screw? See the laborers working away in the photos, those are the people by which nothing would be if not for them. Let the laborers and engineers and medical doctors and farmers and so on hold all the political offices and control the decisions and funds to improve the nation. I assure you that even if they do embezzle money, they will still do more to benefit the country than the usual politicians in office whose only skills are chopping money and fumbling decisions for the appropriation of resources and funds.
I give credit and encouragement to all the workers whose sweat and hard work erected such structures, may they rise to power to help build a great nation.
|Family / Re: My Husband Pours "Anointing Oil" In My Vagina Before Sex- Wife by 19naia(m): 1:19am On May 04, 2016|
Its called Lube and its used on dry women. He was trying to not insult, so he called it annointing oil.
|Politics / Re: ‘Why Bitumen Exploration Is Just Taking Off In Ondo’ by 19naia(m): 7:35pm On Apr 30, 2016|
How is that the excuse when the delay goes back since the days of 1982 when i first learned Ondo state had Bitumen reserves to tap.
If you know Bitumen is there since 1980 or earlier, that is no mere delay.
People who schooled in Ondo state are most likely to have been taught in school about Ondo state Natural Resources. And i was among the ones taught in school about Ondo states Bitumen deposits and my school days there go back to the 1980's
Better now than never and i hope its not going to add to air pollution and global climate change.
|Car Talk / Re: The Major Cause Of Tyre Burst Accidents In Nigeria ( Pictures Included ) by 19naia(m): 2:41pm On Apr 29, 2016|
The tire rubber expands on a hot road while drivng and that will actually release pressure but also make the tire weaker because the walls become thinner under expansion. But what also happens is the air inside the tire expands as it is heated by the hot tire. Hot air expands and increases the pressure along side the expanded tire.
32psi is for regular air temperature and i habe never seen any tire that rates above 41psi. Maybe they exist but i have never seen one.
The rated PSI leaves plenty of room for heat expansion of the air. Not only expansion of the tire rubber, but the air inside.
I had new tires installed at a US based Tire service center and they filled my tires with Nitrogen air. I assume it is because Nitrogen is more dense and also more stable under extreme temperature changes in a place that gets as hot as an oven during parts of the year and cold as a freezer during other parts of the year.
|Travel / Re: Tanker Driver Dies At Sanya Bus-stop In Lagos, Motorists Block Highway (Photos) by 19naia(m): 2:27pm On Apr 29, 2016|
That was just a manufactured reason for blocking the road. They were not concerned about the tanker driver's death, they just wanted a commotion so as to query and access the contents of the tanker without appearing to be mere vultures landing on road kill.
Fuel scarcity Na, its the tanker contents they were interested in, the cause of the driver was just a diversion to not appear suspicious when taking over the tanker and the contents.
|Politics / Re: Jermaine Jackson Visits Bola Tinubu by 19naia(m): 10:10pm On Apr 28, 2016|
Mr. Jackson is interested in investment in Nigeria, Especially in the area Tinubu is renowned for.
|Travel / Re: THE BEAUTY Of ABIDJAN, COTE D'IVOIRE (ALL PHOTOS + VIDEOS) by 19naia(m): 4:40pm On Apr 28, 2016|
|Travel / Re: THE BEAUTY Of ABIDJAN, COTE D'IVOIRE (ALL PHOTOS + VIDEOS) by 19naia(m): 4:32pm On Apr 28, 2016|
Ah yes. The food there is also very tastey. I enjoyed my time there late last year.
|Health / Re: Moi Moi The Silent Killer by 19naia(m): 9:13pm On Apr 27, 2016|
But at Mr.Biggs, na inside leaf we de chop am na.. Ee sweet pass any ting wey consan me Ooo.
But yes, dis plastic business wan kill peepol sef.
|Car Talk / Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by 19naia(m): 7:48pm On Apr 27, 2016|
I am not sure how welll this would work in Nigeria because of the average monthly income of Nigerians remains low by world standards that allow even basic primary school teachers to be able to make monthly payments on a new car while also renting a house,buyibg food and other basics in life.
The Auto industry in USA is big and it seems every one can have a car if they just maintain regular monthly income.
Banks and the auto industry are partners in business.
The same is done for houses so that an everage person can pay a bank monthly for ownership of the house, but it takes 15-30 years of monthly payments to own a house via money borrowed from a bank.
I have paid as little as 3 years of monthly payments to own a new or lightly used car, and have paid as much as 5 years of monthly payments to own a new car.
No more for me. I pay cash now because the interest included in the monthly payment plan is enough to buy a second car after 5 years.
I suspect Innoson will have a lucrative interest scheme involved in the plan, but it will make life easier for people who can afford well over N100k a month to operate a vehicle, especially if the vehicle can last 5 years under commercial use.
THE GENERAL RULE FOR BUYING A VEHICLE ON BORROWED MONEY IS THAT YOU MIST MAINTAIN FULLY COVERED INSURANCE TO PROTECT THE COST OF THE VEHICLE IN CASE OF ACCIDENT.
Insurance cost can be high and can make a 100k monthly payment double when all the other costs of keeping the vehicle are factored in.
|Properties / Re: Why Not A Central AC System? (Photos} by 19naia(m): 2:45am On Apr 27, 2016|
Central AC has nothing to do with the AC units. It has to do with installing the duct passages to deliver it across the entire building.
Any common window or split AC can be fitted to duct passages to deliver the cool air wherever needed.
Each room can be individually controlled by the duct vent which can be closed or opened.
Central AC is most efficient for cooling an entire building and the largest buildings. Its not as efficient for small buildings or a single small room.
The buildings in those pictures can actually be centrally cooled with less units and less power consumption if they used central AC.
But it would create complications if the electric bill is not shared or included in the rent or common dues. Also Nigeria's unstable power supply requires generator cost to be shared.
Central AC is better but more expensive to install and maintain. Also central air doesn't have the sound in the house because the blower is usually stored in utility areas undergorund or in an isolated area.
Nigerian houses dont have underground areas or isolated utility rooms for Heating and Cooling machines. So Central air would require a bulky and loud blower inside the house.
The AC units in the photo are nice but they have cluttered the building in a way that central AC would not.
|Travel / Re: Nigerian Travellers Squeezed As Foreign Airlines Stop Ticket Sales In Naira by 19naia(m): 5:04pm On Apr 26, 2016|
I live abroad also. But you are right about it being a different case for those that live and study abroad. The ones abroad actually send $,€,£ or bring it in, which helps Nigeria. Every aspect of the economy ties into the Naira value. Thats my point and that Nigerian productivity is not established well enough to make their own aircraft or fully maintain purchased aircraft. So Nigeria remains demanding dollars to buy impot goods and services just to have a standard of living beyond nomadic cattle herding people.
Economy Ticket i bought to Nigeria from NewYork last year was cheaper than a ticket i bought to Nigeria in the year 1999. Very strange indeed.
But Nigerians are resilient at home and adapt to all conditions. Despite fuel scarcity/crisis or collapse of transportation system and other sectors.
See this photo, there are alternatives already in action
|Travel / Re: Nigerian Travellers Squeezed As Foreign Airlines Stop Ticket Sales In Naira by 19naia(m): 2:26am On Apr 26, 2016|
Its no simple quandry. It only gets compounded into worse scenarios when the Oyibo who taps and exports the oil for Nigeria can no longer fly to and from his home land and then decides to stay in his homeland.
Then when other Oyibo Contractors such from Julius Berger begin to do the same. Who else? Nigeria is so dependent on imported everything, even to export oil, it must first import oyibo to come and tap it and pipe it to Oyibo ship.
And now Oyibo's airlines are leaving? What aircraft will bring Oyibo to do for Nigeria again?
And now Nigeria will see why their own "SELF PRODUCTIVITY" is and always was the only answer to Nigeria's economy.
|Travel / Re: Nigerian Travellers Squeezed As Foreign Airlines Stop Ticket Sales In Naira by 19naia(m): 2:17am On Apr 26, 2016|
Nigerian's demand and tastes for import is also linked to their desire to travel abroad.
This is how Nigeria's lack of self sufficiency will once again favour the dollar. The airline's demand dollar and it is scarce, that only makes the value of the dollar rise against the naira.
Nigeria is far from manufacturing or servicing aircraft for themselves and so the airlines need currency in the form that is required by the countries who do make and service aircraft. Dollar is still the favored currency of Boeing aircraft industry, while Airbus will accept Euros. Dollar is in high demand because it is the legal tender for a country that produces so much of high demand items like the Jet plane Nigerians have grown so fond of. Naira strength next to the dollar is a pleasant dream but only as good as sleepwalkng through life. Wake up and focus on producing value for the naira by making things people will demand.
Unless Nigeria can make productivity in farming do wonders by bringing in dollars, Nigerians will eventually have to sail on ships to go abroad or fly on death traps. Farming is something any one can do and it is a hard industry to make thrive if heavy farm equipment cannot be bought for lack of dollars to pay. Maybe Buhari will volunteer his cattle herd to plough the fields of Nigeria?
I only hope telecomm(phone/internet) industry is not heavily tied into dollar currency needs, and then there is the automotive industry that relies heavily on imports.
It will be back to the days of riding donkey and posting paper letters before Nigeria finds self sufficiency again, and still corruption will eat away at that humble standard of living.
Naira is no where near prepared for the strength it is trying to weild. The clear way to get a veiw of Naira's strength, is to strip away from view, all the things bought only in dollars, pounds and Euros. Then what remains will be the domain of Naira's strength. Then you will see no Jet planes, no motor vehicles, no industrial machinery, no significant infrastructure and so on. The oil would be the only real mark of strength for the Naira and that will leave the Naira worth only as much as the going rate of oil. And even so the Naira economy cant even tap it's own oil without foriegn help which relies on Jet planes to get to Nigeria.
If Nigeria works as hard as they do looting oil money, when the time comes to work on building the ability to make Ngeria's own industrial machines, then Nigeria will be well on the way to strong productivity. Even the oil Nigeria has, is reliant upon imported equipment and industry expertise.
Naira is not easily accepted on the world market and artificial pegging of Naira value is not going to help at all. Naira has to be backed by productivity in every area it wants to be a player in. The Yuan was once a currency not easily accepted on the world market but now it is backed by so much productivity that even the dollar economy depends on Yuan economy.
Dollar ecnomy does not depend on Naira in any significant way and would barely be affected if the Naira disappeared. If Nigerians are so attached to Dollar, they should just adopt the dollar as their currency like other nations have. Panama, Ecuador and ElSalvador have all done that. Stop printing Naira and allow Nigerians to tender $ for their transactions. But dollars are scarce, so it would be a problem replacing all Naira with dollars. No choice but to face your own work and currency to create the value in it that is desired. Corruption and 419 is the first major hurdle or else all othr measures will get no where excpet deeper into squander.
1 Like 1 Share
|Politics / Re: Lagos To Witness Fuel Shortage As Satelite Depot Shuts Down by 19naia(m): 3:56pm On Apr 25, 2016|
Its obvious something is contrived about this. As soon as relief is sent out in fuel supplies, something else comes up to stop the progress. Because certain people are getting extremely rich selling fuel at inflated prices. Rich enough to pay depot personel to keep dysfunction alive
|Business / Re: Egyptian Devaluation Backfires -- Nigeria, Be Thankful!!! by 19naia(m): 5:58pm On Apr 23, 2016|
Nigeria should go through a devaluation. Only a devaluation to keep up with International equitability rather than the black market.
The real devaluation issue in Nigeria has nothing to do with keeping up with the black market, it has to do with Nigerian policy to artificially peg the naira at 199 to a $ rather than somewhere between 199 and the black market rate.
Its the black market that will have to adjust to the National banking currency rate while the Central bank will have to adjust to international equity.
Egypt is a different story with middle eastern economy heavily tied into it. If Egypt is devaluing to keep up with the black market, then that is their own terrible mistake. The black market of currency trade will destroy any currency for it's own profit. The currency needs to be adjusted according to International equity. After that, there will naturally grow a balance between the banking rates and black market rates. And naturally the black market rates will always compete against the banking rates no matter whats going on with devaluation in the economy.
All this currency speculation based on what the black market is doing, is nothing serious. If the banks are being starved of foriegn currency because of the black market, it is the black market that must be afraid, because the government can and will move in with enforcement and crumble the black market.
Its not the devaluation that is making issues , it is the infestation of black marketeers taking advantage of the situation. The banks of any nation should never capitulate to the black market when the law is on the bankers side. Thats why this story includes a segment about black market currency deals in secret because they know they are doing the damage rather than the banks.
The Banking system is no saint and does it's own evil upon mankind, but the black markets would form into cartels and become their own banks and wreak economic tyranny if no regulations and controls were in place. So the banks with relative order and being subject to government scrutiny and control are better than hidden corner black market dealers who funnel blood money, slave labor money and loot in general. Any bank that deals is shady money, has a better chance of being caught than a balck marketeer.
Dont be misled. The devaluation is not the cause of the problems, it is the black market that is causing the problem and should be dealt with. In fact, if you ask the black market, they want the devaluation because they have a momentary boom and they would not want value increase to come any time soon. They always want to buy low. They thrive on instability in currency. A devalued currency creates a buying low situation for the currency and people will rush in with Foriegn currency to buy low. Eventually it will all settle once the frenzy of buying low has been filled. Then the banks will once again see more currency coming their way.
Dont forget that the Naira has been constantly falling in value since the time of Kobo used to buy food. When last has the Naira been free from fall in value?
So devaluation has been a constant. How has Nigeria not already met the same conditions as Egypt by now? Egypt has a different economy and is tied into a different economic region of the world.
More foriegn money flows in when there is devaluation and it enhances exports if productivity is there to export. The devaluation is not the real issue in Nigeria but the restriction on flow of international currency and that is being done because Nigeria has serious problems with being very dependent on imports. The restriction on flow of foriegn currency is making that currency scarce for people and creates a higher price for it in the black market which soon attracts Foreign currency holders to the black market. But they are limited to certain amounts by law. Banks limit customers also but the black market is more available to criminal transactions for people who bring in undeclared cash exceedng the legal limits. Loot!
Western union, International ATM and other means bring in Foriegn currency to Nigeria and its actually quite a significant amount because each transaction comes from palces where average income exceeds Nigeria's average income. Billions of dollars a year by these means that do not go through black market hands and remain under the control of CBN. I spent only US$ last year in Nigeria via ATM card linked to a USA bank. I withdrew Naira and the banks were reimbursed $ as well as the currency exchange fee in $. I also used western union which paid out in Naira and the bank recieved dollar reimbursement. There are many Nigerians doing this with $,£ and €. And yes we often only get the bank exchange rate of 199 but it is good enough for people who dont work in Nigeria or have money in Nigeria.
Nigeria has a larger population of people than Egypt and may have many more people abroad than Egypt.
Nigeria banks may be collecting more Foreign reserves through these remittance and ATM transactions by refusing to devalue beyond 199, but they are likely losing more from detered investors who suffer under the currency flow restrictions. If the banks devalue without any new sources of foriegn income, they will reduce what foriegn income they have exchanging for Naira at remmitance and ATM sites.
But if Banks devalue Naira and reset currency flow policy, they will see foriegn investors growing again and bringing in foriegn currencies as well as growing Nigeria productivity towards a stronger economy that will in turn strengthen the Naira and attract foriegn buyers with more Foreign currency to spend.
Foreign investors show up with foriegn currency before they eventually profit and seek to repatriate their money abroad.
Its a tight situation for all, but give and take must happen while loss and gains stay ever present, and some routes will do more damage than others. Weigh the different options out of growing understanding of what is going on.
Nigeria doesn't quite have the reputation and mannerisms it needs to attract what it wants. I was driving Yesterday and came to a major intersection and the traffic lights had failed. Stop signs were placed on every corner and traffic automatically waited one by one for their alloted right to proceed and all was orderly and functional without agressive breakdown of order. This holds true in general beyond traffic here, in the market and beyond. There is a long history of practice in orderliness here.
Nigeria would see a different story even when the traffic lights are working ,there will be aggressive and constant breakdown of order and it is true in general beyond traffic, but also into the market, banking and beyond.
The root of the problem is in the people and what choices they make in the market, traffic,politics and beyond.
Conduct and productivity. The real value in any economy.
1 Like 1 Share
|Health / Re: Woman Pregnant For 3 Years Gives Birth In Ibadan- Metronaija.com by 19naia(m): 7:54pm On Apr 22, 2016|
As expected, the baby is bigger than a regular newborn. Longer arms and legs, a full head of hair and a more developed face shape.
How about Teeth.? Are baby's teeth fully developed?
Will baby celebrate the first birthday as a 3 year old? It seems baby is less developed after three years from conception than a regular baby born 9 months after conception to mature another 27 months outside of the womb..
I am imagining that the baby may be a quicker learner and may start speaking and walking in the first year. Maybe also make it to school by the second year.. ??
|Business / Re: Naira Crashes As FG Denies Currency Swap Deal by 19naia(m): 3:42am On Apr 22, 2016|
The value rise was speculation based and now the value fall is reciprocation of the speculation event. Balance returning in the face of further information.
Speculation will come and go but only truth will take hold or the malevolent forces of corruption during the time that truth slumbers/cowers.
|Politics / Re: US To Press Nigeria To Devalue Naira - Reuters by 19naia(m): 3:23am On Apr 22, 2016|
jpphilips:You are still too caught up in banter and self grandeur to see that the measure is not in currency value rating, but rather in productivity such as Japan , China and Dangote maintain in high form. You do the search over Japan Yen fluctuations through the past 7 years and you will see that Japan has made effort in recent years to bring it's economy back by keeping it's currency devalued beyond 100 to a $. They were having trade issues when it was below 99 to a $.
Do the research, China was being prodded by the US to raise the value of it's currency after China's economy rose to 2nd in the world. China ignored the matter and kept the yuan at artificial low value to boost sales in the world during economic down turn for most of the world.
Dangote did lose denominated value of his net worth at one time but his productivity was and is still expanding and growing also in terms of dangote exports selling across Nigerian borders where the lowered value of the Naira only reciprocates with better export sales for dangote which in turn increases his income despite the previous denominative decline of his net worth. At one time, quite a few billionaires on earth lost value in their net worth due to the downturn of the entire economy. The productivity remians the same and grows despite currency devaluation. Productivity is what counts first and the currency will follow. The currency is not to be a front seat driver. Productivity is ,and that is what sets Dangote's real value in place as does with Japan and china. Currency is not real value, productivity and resources are real value.
The whole fact of the matter of Dangote, China or Japan losing value due to currency fluctuations, is that every currency goes through ups and downs, even the dollar and pound.
Did you know that the highest valued currencies in the world belong to small countries like Kuwait with low populations relative to their productivity. 3.31 kuwaiti dinars = $1.. and yet they are not as wealthy as Japan, china or USA. Its not the currency, its the productivity relative to population/size of nation.
Since the time of your original tyrade, Nigeria has seen a lot of economic downturn due to artificial currency fixing of the naira to keep it high while resricting the flow of currency in and out of Nigeria. Foriegn investments are leaving Nigeria and others that were to come are cancelling. The latest is the foriegn airlines wanting to pack up due to not being able to take money made in Nigeria to shores where they can spend it on maintaining and purchasing aircraft to come back and service Nigeria. Nigeria certainly is not productive enough to maintain and produce aircraft... Yet. More damage will be done by the prevailing currency policy than a reasonable devaluation. At least a devaluation will allow productivity to rise and that will raise the naira. The current policy will cause desperation which will lead to shift in productivity with gains in some areas and major losses in others such as is unravelling daily in Nigeria.
So clear your mind of intent to insult and banter your way through blind opposition, and maybe you will come to terms with economics rather than a vicseral impulse towards malicious contention for the purpose of self grandeur.
Read carefully your pattern of rehtoric, like most people who view this thread can, and you will see it contains more effort and prowess towards banter of contention in malicious verbal abuse form rather than the detailing of points about the subject matter. I suspect because you are lacking in the subject matter and more practiced in the wasteful ways of banter and verbal abuse. My experience and education in such banter and verbal abuse cannot match you and so i stick to what i do have to offer as follows.
*And the secret is that banter of verbal abuse ,clouds the mind and overwhelms the economy of mental focus, thereby devaluing the ability to really think about an issue.
Focus on how you economize the use of your mind in real thought versus abusive banter over ideas, and then you will start to understand better and make better choices to aide the prosperity of yourself and fellow man/woman/goats/e.t.c
Remember, when you focus castigation at me over the issue of people dropping out of university, it is not about me but rather, you are castigating those who dropped out to make the computer you use, and so many of the products all of us use today. Because they had real productivity. When you show that same level of productivity as the university drop-out billionaires i listed in my previois post, then your castigation of people who dropped out of university will have some merit. But as of now, there is a lot of thinking to do about why so many with university education and self proclaimed knowledge and learning, are as good as impotent when it comes to birthing viable productivity to provide for a nation?
In fact, in Osogbo and Isolo bridge area, there are many of God's miracles called human beings and they are the potential source of all kinds of productivity and greatness regardless of their fortune to attend university or misfortune to not be able to complete university.
I trust that when i can show respect for people under Isolo brodge and Osogbo, educated and uneducated, it will add to respect for myself. The same will benefit you if you truly value self respect and productivity. Even the least of laborers does more for productivity in any economy than the rich man who never lifts a finger other than to sign the profits of other people's labor into his rich man bank accounts.
Thats the root of the issue by far in Nigeria. People who know no productivity and focus more on self grandeur and diverting money to their hands and accounts.
|Business / Re: Forex Policy: Iberia Withdraws Services From Nigeria by 19naia(m): 4:42pm On Apr 21, 2016|
NavierStokes:This is the comparison to make and thanks for it.
The real issue is productivity of a nation, Japan is very productive and prefers it's currency stay low value so that the entire world can afford it's very viable products.
Venezuela is not a very productive country in the same way Nigeria is not very productive. Sure in terms of oil, they produce a lot. But it is not a good economy when it rests mostly on one product while not being in control of that product market internationally. Nigeria even takes lack of productivity to another level by not even being able to supply petrol to fuel vehicles or generators already compensating from lack of productivity in electricity supply. And let me not even mention piped potable water supply.
USA also relies on Oil and is a huge producer of oil. USA economy did not suffer so bad. Why? USA is a very productive nation so much so that china owes its immense productivity to productivity sent from USA to reside in China for the advantage of cheap labor. And even china seeks to keep it's currency devalued to make it's productivity accesible to all foreign markets.
Venezuela is so bad that even the productivity to make enough toilet paper for the country has been very low. And they think manipulating the paper currency will improve the economy? Nigeria is making the same mistake and flushing down the same toilet. It will be harder for the Naira to recover from the damage caused to the economy under the current currency policies than it would be to recover from allowing naira devaluation and more international currency flow(The natural devaluation would likely meet somewhere between 199 and 320). Because the restirction of currency flow stops all that flows with it, investments into productivity.
Local productivity is growing but in the same hand ,other previous productivities are falling out such as the airliners.
Leave currency alone and focus on productivity, coruption and recovering loot of past longer throats who started naira into trouble.
|Business / Re: Forex Policy: Iberia Withdraws Services From Nigeria by 19naia(m): 4:20pm On Apr 21, 2016|
On the bright side, If Nigerians want to continue to travel abroad from Nigeria, they will have to patronize Nigerian operated airlines which will boost local patronage.
But still Nigerian operated airlines may face restrictions to their destinations if they do not at least make the foriegn airline funds available for use in countries that can service the aircraft or countries where the aircraft are produced and purchased.
How will Nigerian operated airlines get funds into countries that can service and provide aircraft for Nigeria?
This is what results when Nigeria manipulates international currency flow before first making sure Nigeria has productivity to feed its own needs and export destinations. Currency is just paper and needs productivity to put value behind it. Even Gold is a product that has to be mined and worked.
Unless this is all just a wise decison making process in the high a mighty cause of living with less in order to preserve the planet earth. Maybe the plan is to have all Nigerians become humble cow herders At least that will be productive and also smell like cow feces.
You can't fix Nigeria currency by holding back the flow of other currencies especially when the economy is very dependent on import of goods and services such as airlines. It will only strain the economy and force the currency into a fall of desperation.
Productivity needs to be the first and major thing to focus on, and productivity must be seriously bolstered before currency manipulation can be relatively safe. But as far as fuel scarcity and no electricity supply go, there is no sign that Nigeria's productivity has a stable promise any time soon. In fact, stability of what is on hand should come first, then followed by enhanced productivity and then currency issues follow last. The root of all of this is Corruption. It all started as measures to stop Corruption money from being able to easily move. Now it is affecting every sector.
And if the currency policy is reversed today, coruption will find it's way in again. Its a very precarious place with damage waiting on all sides.
I think the corruption cases and repatriation of looted funds will continue for a while more and then the currency policy will be changed to relieve international businesses. Some times people have to incur damage to fight off a terrible monster that would otherwise kill. Some damage is better than total loss or hopelessness.
The only insulation for an economy is it's own viable productivity even if only for self sustenance. Nigeria is not self sustaining and insists on a lifestyle that it cannot sustain without greatly enhanced productivity. And it must be very diverse productivity.
|Business / Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by 19naia(m): 2:03pm On Apr 19, 2016|
And the plot could thicken. Not to mention military tensions between china and quite a few top economy nations.
|Business / Re: Nigeria, China Currency Swap Forces USD Rate Down: Bureau De Change Association by 19naia(m): 2:09am On Apr 18, 2016|
Nothing wrong with having Yuan circulate in Nigerian banks. Of course the change in the Naira rate is simply the common speculative shift that occurs around any major change in currency flow. People have another option now, but the true end result is still yet to set in as currency trade practices in Nigeria are known to consistently sell out the Naira and abuse it like a donkey.
The way dollar was traded with all the schemes that saw dollars being bought up by insiders at a discount and then sold on the open and black markets for a very high naira price, is still a factor waiting in the shadows to pounce on the Yuan once the demand for Yuan and availability of Yuan rises to significant levels.
Its one thing to see the Naira devalue against the Dollar, but when the Naira begins to Devalue against the Yuan, it could lose sight of the dollar and go a route thay will make the current value of Naira to the dollar look like a very good deal.
The issues with Naira is Nigeria's productivity. No one wants Naira except in West African countries and these are places Nigeria can develop exports towards and they will be happy to trade with the Naira. Nigerias currency will only see true rock solid strength when it has viable local made products to export at a growing rate. Nigeria is on this productivity path but not significantly enough to out pace the extreme demand for imports in Nigeria. When refineries expand in Nigeria, will the instabilty of prior refineries expand also? Stability. That is the main product that all other products wil rely on in Nigerias rise to greater productivity. Stabilty sabotaged by bad practices and disregard for human life.
This Nigerian Yuan circulation situation may have a small momentary speculator caused advantage given to the Naira, but the whole point of the Yuan in Nigeria is the same as the dollar in Nigeria. It is to feed Nigerias Import frenzy.
Where is the Yuan going to come from? Are the Chinese going to take Naira and give Yuan in return? No! Not unless Nigeria signs over huge resources and rights to access or even control the resources on Nigerian soil. Then they will accept Naira in exchange for Yuan to use to purchase Nigerian resources for very cheap.
The Chinese are Buying dollars from Nigeria. Eventually when enough dollars are bought out of Nigeria in exchange for Yuan, the dollar will be scarce and cause a rise in the cost to purchase dollars. Then the Yuan will become so available that it will become cheap to buy Yuan. End result is a higher Dollar value against the Naira.
Using all that money to drive the import heavy economy of Nigeria will not help the economy.
But it is very possible to work imports from china into the productivity of Nigeria even if it is simply through buying a better electric power supply for Nigeira, rail way infrastructure for cargo resulting from increased productivity, potable water supply, and industrial outfitting to enhance productivity. That is the only way to make Yuan work well for Nigeria. And all those things installed and functioning in stability will make the economic gains stable. Nigeria's issues with stability in all sectors is serious and has to be focused on seriously for any thing to prosper.
The cost of dollar can also be handled by Nigerians making for themselves the primary thing they spend the dollar on. Refined petrol products for fuel. This is already in progress. Refineries are going in and new ones are being planned and i only hope china is in the deal to help expand refineries in Nigeria to exceed Nigeria's fuel needs such that Nigeria can export refined fuel across west Africa and beyond(as long as Nigeria will not have china make refineries in Nigeria only for china to demand the surplus for china at low or no cost). Nigeria with a surplus refined petrol production, would eventually make the dollar not as useful as before and maybe also crude oil sales will still bring in dollars which will not have to be spent on buying ready made imported fuels. That could create a dollar surplus and make dollar cheap for Nigerians who will not need it so much as to pay what the exchangers are asking, The changers will be forced to devalue the dollar at that point.
Thats how you strengthen your currency. Make what you need in your country to be paid for in your currency so that people are not so hungry for another country's currency. When people stop looking at the dollar or Yaun and stop concerning about what it cost to buy it, then you will know they have faith in their own currency and are able to buy what they need in their country with their currency because they produce it themselves. The down fall of the Naira is rooted in those who live and spend in Naira economy but are so concerned about hiw much a dollar cost to buy using Naira. That is a sign of coveting another man's currency and that is where your own currency begins to devalue.
|Health / Re: Mentally Unstable Couple Spotted In Abia - Photos by 19naia(m): 9:17pm On Apr 10, 2016|
Why are these people being called mentally unstable? Ehn?
They are the only ones in the country who are not embezzling funds, not charging fees for electricity that is not supplied, not wearing uniforms and stopping you to make legal issue as means to extort money from you, not sitting in the market tryng to sell you something at an unfairly inflated price, not renting you a flat and keeping your deposit after you complete the terms and do no damage to the flat.
They are not ministering to you as pastors while secretly engaging in dark rituals and sleeping with your spouses while you are at work earning to pay for the house where they are adulterous in behind your back, not servicing you car as mechanics and secretly removing good and functional parts to sell and warrant your return trip to spend more money and enter more demise.
They have most likey been extreme victims at the had of wicked and mentaly disfnctional people in well made attire with exquisite grooming and all kinds of show and tell to woo people into their trap of exploitation and abuse.
Take that finger and curl it back at yourself when you point to identify the root of all kinds of instability/mental instability in the world.
God bless those two human beings who are God's own project and hope for humanity all over the world.
|Health / Re: I Am Only 24 And I Am Diagnosed Of Impotency, Why Is Life So Unfair? by 19naia(m): 9:01pm On Apr 10, 2016|
God will send you new friends who will tell you of all the suffering their children have caused them in such a short and precious life time.
|Car Talk / Re: Convertible Cars, Safe Or Not? by 19naia(m): 8:56pm On Apr 10, 2016|
With what petrol are they going to operate any vehicle? Thanks fuel scarcity for making auto theft obsolete and making convertible cars safe from theft.
I am so happy i bought my Keke/Bicycle a few months ago. Its good exercise for a healthy lifestyle.
Burning petrol is not good for fresh air any way. Clean air=clean bill of health.
Bicycle , and you will enjoy convertible experience ,not suffer fuel scarcity experience and you will not pollute the clean air with petrol smoke.
|Politics / Re: US To Press Nigeria To Devalue Naira - Reuters by 19naia(m): 2:52pm On Apr 05, 2016|
Ah, because Naija is so well educated and experienced to know better than Japan? Japan made efforts to devalue it's currency while being among the top richest economies on earth..
Because Naija is well educated and more experienced to know better than China? China made efforts to devalue it's currency while being among the top richest economies on earth..
$500 billion is small by those rich country standards, which is why Dangote's worth of more than just a few billion dollars is actually plenty and in fact his worth and products make up a valuable part of the value of naija economy and GDP while contributing to much development for people all over africa.
He is investing in agriculture, refinery of crude oil and more. He is also not the only product making investor in Nigeria. There is Innoson with export potential, agriculture with export potential, plastics with more expoert potential to tap, electricity is exported and potential for more production is certainlty there including for domestic use .
There is quite a bit of production and export potential if you stop and really think about, but your mind seems more pressed with agressive pander in rhetoric of petty person to person squabbles like an area boy level of education and what an area boy's self application would conjure.
Meanwhile Another corupt politician's huge store of money has been found hiding where it was *exported* under cover. Seems naija has no problems exporting the product of coruption, why would there be a problem exporting the fruits of real productivity?
There is room for the naira to devalue "realistically" as was said by people with economics experience and a number 1 world economy to back up their story. And yes there is room for naija productivity to grow as well.
Come to USA and hang out and maybe try some education at several universities and also getting influence in casual atmospheres by a diversity of enlightened minds. And not to forget that nigeria's economy is expanded by people in USA, Europe and beyond who remit tens of billions of dollars a year to people in Nigeria, and i am one of those in USA who contributed to Nigerias economy last year.
I have been to 23 different countries and paid attention to their economies, productivity and currency status next to the dollar. Real experience doesnt happen in the classroom of any of the three different universities i attended in USA here, and not any university. It all happens in real world exposure and by those who will put their hands and money towards productivity and exploration in the heart of societies around the world where productivity, export and import potential lay.
Here is a photo insert below, of how far education in schools has gotten some of the most productive and wealthy people on earth. lets see if you can conjure some intelligent story rather than area boy/agbero approach of petty squabble rhetoric. Makes sense and not maliscious talk of boast of superior judgment with no actual enlightening details to contribute in place of low minded verbal abuse.
When it comes down to it, the very computers or smart devices we use to blog here ,are genius products of people who never completed school because school could not teach them how to acheive their goals. Now schools and businesses all over earth are reliant on their products.
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 430