Chai! Black people are too gullible especially the youth, I don't believe people will believe this false propaganda that Nigeria's nouvre riche are feeling the pinch of this economic downturns. This is just a way to take many attentions of the masses from their filthy wealth in the face of acute poverty that is about to ravage the common man.

These people have stolen enough money and stashed in dollar-denominated foreign banks when the exchange rate was is the region of N150/$1. Do you know what that means to their wealth in the current economic clime - that's double or triple the value of their current worth in Naira.

You may say the falling oil price is dwindling their revenue but the accompanying weakening of Naira against dollar is also strengthening their wealth. These people have foreseen all this that is why they chose to keep their money in Swiss Bank rather than in Nigeria. If you tell me it is to avoid the prying eyes of the public then I'll say you have no knowledge about how these financial institutions operate. They can keep their money in Nigerian banks and you will never know who run those accounts.

Saying that Nigeria's super rich are feeling any economic pinch is what I will consider a Fallacy of the day's Valentine!

oduastates:


You want a list ? it is a pan- Nigerian list of useless, vain-glorious and unpatriotic lunatics.
I have read interviews conducted with that billionaire woman , I was not impressed at all .
In fact all of them quack the same way . From dangote all the way down to Fidelity.
They are all wealthy but not that bright.

This is the hieght of jelousy, if you think they aren't that bright try becoming a billonaire. GO AND HIDE, YOU SHOULD BE ASHAMED OF YOURSELF

LoremIpsum:
Let the Oil wells even dry up!

Beef.

X0x0

The poor deposits#2, 000 n the rich deposits #200, 000 both gets a deduction of #50 as stamp duty.
Who z affected d most?

Okay. We have hear..

We can only get richer.

Poverty, bye bye..

scobaba:


Beef.

Pls Can I send u a PM Sir

oduastates:
Useless moguls.
Corrupt Indonesia under Suharto had plastic , chemical , cement , agriculture,retail ,textile , steel , construction housing and whatever magnates .
Nigeria has a bunch of pea-brained iidiiootic nobodies .
You can imagine. These people patronise thugs to keep the gravy train going.
A thug like tompolo even had 2 private jets .
Go to the school all these so called moguls attended.
Go to their hometowns.
Even the streets they reside . Open drainage , untarred or if tarred , unswept and uneven roads with sand all over the place.
Go inside their homes, you will see tasteless ,tacky ,expensive interior decoration .
While they think they are well regarded worldwide , behind their back , they are seen as no better than monkeys.
Nigeria has the wrong set of elites
Nigeria needs more people like Seun who create something out of nothing and add tangible value.

Your Right. Its time to recognize creative thinkers.

eleojo23:
Somehow I wish that all the oil wells will dry up. It will be for our own good and for the good of future generations.

We have wasted our potential as a country because of oil.

Let it dry up.
Without oil, we will begin to see real development because we will start using our heads to think and make use of the numerous resources that have been lying waste all these years.

True talk man. Oil boom was d beginning of our nation's doom. We abused it nw we have 2 suffer d repercussions. Wt d way oil prices keep plummeting, I foresee Nigeria breaking up because only a fool doesn't know dt we r only together because of oil money.

godoluwa:
you need to be enlighten. the current policy will not favours exporter either. do you think we can get all raw materials needed to manufacture here? lets assume you buys 30% your raw materials @325naira to $1, & you source for the rest locally, you now export such finished good but your bank paid you @198naira per $1, is that a profit or loss? no banks pay you in dollars & theres no way you will carry huge hard currency in transit except you want your money to be confisticated. mind you, you cant adjust the selling price to balance with the exchange rate because you still have other manufacturer to compete with at the international market.

bros you are wrong again. I import materials intact I just imported hydrocarbons from china and I bought $199. What you Dont understand is that you can fund imports through a channel called L/c with the aid of a bank and gov/CBN will pay at official rate for it. But you need to import what is deemed by gov essential for industrial growth . but things like toothpick used cars and stuff like that do not fall into that category which incidentally falls in to the bulk of our imports . can you imagine major marketers looking for dollar to import finished petroleum products? If dollar is $400 then the smart one among them will build local refinary and start local production, driving the foolish ones who are still looking for dollar probably by then $500 out of business as their imported products will be out priced.

skj1377:
bros you are wrong again. I import materials intact I just imported hydrocarbons from china and I bought $199. What you Dont understand is that you can fund imports through a channel called L/c with the aid of a bank and gov/CBN will pay at official rate for it. But you need to import what is deemed by gov essential for industrial growth . but things like toothpick used cars and stuff like that do not fall into that category which incidentally falls in to the bulk of our imports . can you imagine major marketers looking for dollar to import finished petroleum products? If dollar is $400 then the smart one among them will build local refinary and start local production, driving the foolish ones who are still looking for dollar probably by then $500 out of business as their imported products will be out priced.

you mean building refinery will happen overnight? btw, nt all importer import bullshit as u claim. lastly, this topic is old & i wont say much on it again

skj1377:
bros you are wrong again. I import materials intact I just imported hydrocarbons from china and I bought $199. What you Dont understand is that you can fund imports through a channel called L/c with the aid of a bank and gov/CBN will pay at official rate for it. But you need to import what is deemed by gov essential for industrial growth . but things like toothpick used cars and stuff like that do not fall into that category which incidentally falls in to the bulk of our imports . can you imagine major marketers looking for dollar to import finished petroleum products? If dollar is $400 then the smart one among them will build local refinary and start local production, driving the foolish ones who are still looking for dollar probably by then $500 out of business as their imported products will be out priced.

let me ask u, why is the price of almost everything increased? vehicle, computer, rice, phone, radio, tv set etc or we are to manufacture all?