4Play's Posts
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Two wealthy Nigerians who battered a fellow student with a shisha pipe in an argument over who had the richest father have been spared jail.http://www.dailymail.co.uk/news/article-5726269/Two-privileged-Nigerians-battered-fellow-student-shisha-pipe.html |
Ishilove:Is there much evidence the vagina is cleaner than the mouth: the same logic that rules out cunninlingus should rule out kissing. We need to go back to the ways of our forefathers - quick (1 min long) coitus in the missionary position with no kissing or any pre-intimacy/afterplay. |
Sunnymatey:"Heavy clothing" to mask the bomb strapped to their torso is often a tell-tale sign. Wearing a jacket in Naija weather with a thousand yard stare can be something the security agencies look out for. |
Honing their fighting skills may come in handy if they ever become legislators. This is a necessary rite of passage for any aspiring politician. |
IamaNigerianGuy:It was never necessary to replace ineptitude with even more severe ineptitude. It wasn't like Buhari was an unknown quantity, an untested leader on whom we could logically project our hopes and aspirations. We had already experienced his ineptitude from 1983 to 1985. |
GavelSlam:You are a mendacious oaf. You are using the collapse of the Naira to convey the impression that Nigeria doesn't owe much. The audacity of you fecal-brained propagandists is mind-boggling! If the government had N160bn in debt in 2014 and N305bn in 2018, the fact that both figures equate to $1bn at the official exchange rate does not mean the debt hasn't increased. This is particularly so if most of the government's debt is Naira denominated. I hope they pay you well for the drivel you come out with. |
grandstar:The Buhari apologists will be bringing out the celebratory champagne for this "sterling" achievement. |
niyisky:Why compare Nigeria to Russia who are subject to Western economic sanctions due to Russian military invasion of Ukraine and a variety of other reasons? Again and as with the Venezuelan comparison often trotted out but ill-informed Buhari apologists, the Russian financial crisis started in 2014 and yet no one then tried to justify GEJ by comparing Nigeria to Russia. If you replace a looting government with an honest/competent government, which is the narrative Buhari supporters promote, that in itself should provide an economic boost. To ignore the sheer incompetence of this government by making naive comparisons to Venezuela, as you guys often do, is like justifying a leader by making comparisons to Idi Amin. |
tetula123:You people always use this faux neutrality line to undermine the credibility of female accusers. Of course, there is a problem of false female accusers but there is an arguably larger problem of men who get away with harassing women because the harassed woman lacks the courage to complain or because harassment apologists like you impugn their motives. |
olujastro:Your post is epic idiocy. If the Naira remained at N155 to $1, the reserves won't rise significantly even if oil were at $100 p/b as Nigerians would be able consume more imported goods. At N360 to $1, import demand is much weaker and you only need a decent recovery in oil prices to accumulate reserves. Increasing minimum wages from N5k to N18k, whilst maintaining relatively stable exchange rate, fueled consumption of imported goods. Without exchange rates falling, reserves could not have been accumulated notwithstanding high oil prices. Comparing forex reserves at significantly different exchange rates is a sign of economic illiteracy. As for the Venezuela analogy, this is again borne out of ignorance. Venezuela entered into a recession in 2013, at a time GEJ was in power. Did you in 2014 or 2015 praise GEJ for not turning Nigeria into Venezuela? June 9, 2013 1:32 pm by Benedict Mander in Caracashttps://www.google.co.uk/amp/s/amp.ft.com/content/b41fbcb4-d0f1-11e2-be7b-00144feab7de How can you attribute to the present government a phenomenon (the relative underperformance of Venezuela by comparison to Nigeria) which was already apparent as early as 2013? Save your uninformed commentary to your fellow benighted ignoramuses. |
If you have sound macro-economic fundamentals (low inflation, high GDP growth, export growth and high FDI inflows), then forex reserves are a sign of strength. However, in Nigeria's case, the increasing forex reserves are largely to do with the recovery in oil prices and, more importantly, the depreciation of the Naira from circa N155 to $1 to N360 to $1. The latter acted as a curb on imports by reducing the purchasing power of the average Nigerian, whilst the recovery in oil prices allowed the CBN to replenish the reserves. This is why the comparison between now and the GEJ era is ignorant - you are comparing levels of forex reserves at vastly different exchange rates. The example I have often cited before is the Abacha era when forex reserves increased from $500m to $7bn at one point (an increase of 1300%). This wasn't because of sound economic policies. This was largely due to the collapse in the Naira as we went from N22 to $1 to N85 to $1. This curbed imports and helped replenish the reserves. Put simply, you can save money by starving yourself (arguably starvation to death saves money) but that is not living. Policies which cause the collapse of the Naira and significantly reduce living standards do not become vindicated because of an uninformed fixation with forex reserves. It's debates like these that illustrate that the Nigeria's problem isn't solely about the quality of political leadership but is also about a hopelessly uninformed electorate. To celebrate forex reserves against a backdrop of collapse in both living standards and the purchasing power of the average Nigerian is a celebration of abject ignorance. |
I think 2 main reasons explain this: tradition and ethno-religious divisions. First with tradition, I mean that there isn't much historical precedence or grounding for the modern notion that a political leader ought to be accountable and desist from treating state resources as personal resources. In the pre-colonial era, would the Obi of Onitsha or the Ooni of Ife have been required to live anything other than an unaccountable life of splendour by the people? It takes time to be rid of this mindset. In terms of ethno-religious divisions, it's difficult to hold leaders to account in a climate of divisive tensions. Political rivalry is intertwined with ethno-religious rivalry. Any prosecution of past leaders can be easily interpreted by such leaders' kin as an attack on them. This is moreso as the people in charge of the prosecution could not have obtained power without the use of illgotten wealth. It would then be akin to a criminal with power investigating a criminal without power, a state of affairs more analogous to gang wars. |
He is reported as follows: Minister of Finance Chief FS Okotie-Eboh responded to charges of accumulation of wealth by government officers by quoting from the Bible, “To those that have, more shall be given. From those that do not have, shall be taken even the little they have.”[url] https://www.google.co.uk/amp/s/emotanafricana.com/2016/04/15/corruption-in-nigeria-to-those-that-have-more-shall-be-given-from-those-that-do-not-have-shall-be-taken-even-the-little-they-have-f-s-okotie-eboh/amp/[/url] |
Is this not an April fool's day story? |
This is an act of madness and a brazen triumph for corruption. |
Irukkanews:This is what people always say in these cases. We are accustomed to men getting away with rape in Nigeria that we now adopt this knee jerk dismissal of a rape conviction after court proceedings where the accusation of rape has been proven beyond reasonable doubt. |
This is because the FG is taking on more external debt to reduce its borrowing costs. The interest rate on a dollar denominated loan is much lower than on a naira denominated loan. Less FG borrowing in Naira should bring down borrowing costs in Naira due to less demand. Of course the downside to borrowing in a foreign currency is that the Naira could depreciate in the future significantly increasing the costs of paying back the foreign loan. This is what happened from the 80s to the 90s leading to 2 lost decades and the deal during the OBJ era to wipe off some of the foreign debt. |
This is the kind of thing rape apologists enjoy reading. |
PAGAN9JA:To say we reason like animals is an insult to animals. Animals kill for survival. Many Nigerians simply have a crass and heartless disposition which leads to the senseless butchering of any living thing. |
Capital inflow in 2013 and 2014 were $21.3bn and $20.7bn respectively. Source: https://www.google.co.uk/amp/s/economicconfidential.com/business/economy-attracted-21-3bn-capital-inflow-in-2014/amp/ People are celebrating $12.2bn in 2017 as it represents a major increase from 2016 but we need to ask, why did inflows fall so dramatically in the first place? |
100 thousand? Won't be impressed until an announcement is made that 1 million people defected from one party to the other. |
ysteph:I thought it was a fake story too until the lack of denial by JAMB and of course this video clearly evidences that someone of presumably sound mind had the audacity to explain away the loss of N36m by attributing blame to a snake! |
Meanwhile in Nigeria, our best effort is Innoson which is busy repackaging made in China vehicles under the Innoson brand. |
Maybe this explains lalasticlala's snake obsession. Perhaps he has the insight to know that some snakes are like bullion vans. |
Donpresh95:Their curses don't work on Shekau of Boko Haram, but rather on some barely known celebrity they ghoulishly delight in their demise. |
ItsMeAboki:I suspected this is partly the purpose of this thread: to praise Buhari by contrasting Nigeria's situation with Venezuela's. What ignoramuses like you ignore is that Venezuela went into recession in 2013, at a time Nigeria's economy was still growing. Were you comparing Nigeria and Venezuela from 2013 to 2015 when GEJ was in power? Venezuela is in a uniquely bad situation due to the foolishness of its leaders. However, praising Nigeria's economic management by constrating it with Venezuela will be like praising the government's provision of security by contrasting Nigeria with Somalia or South Sudan. You don't grade your country by the worst available examples out there. |
Freetech:This is epic idiocy. No economy is permanently in recession, the question is whether you can generate enough growth to improve living standards. Given population growth of circa 3%, Nigeria needs more than 3% GDP growth to improve living standards. In reality, given that the benefits of growth are not evenly distributed and tends to accrue to the rich, you need close to 10% GDP growth to make any significant impact in poverty alleviation. People like you who celebrate mediocrity are abject treacherous oafs. |
I think the tithing taps into our subconscious and habituated mode of behaviour. Nigerians live in a society where you have to drop money to get anything of worth. To get hospital care, school admission, employment, e.t.c., you need to expend some cash. So, of course, when a pastor tells his congregation that they cannot get into the kingdom of heaven without tithing, if fits with the Nigerian convention of everything of worth is for sale or transactional. Also, historically, our cultural practices in the pre-modern era included bringing gifts (animals/foodstuff) to a shrine priest in exchange for "spiritual services." There was no cash then so the gifts were the available substitutes. So, again, tithing aligns with previous traditional/cultural practices we are accustomed to. |
There is a stark illogic to the assertion that GEJ's incompetence justified voting/supporting Buhari. It's like saying we should vote or support Fani-Kayode or Rochas for president, if they ran, because Buhari is incompetent. There is no logic to supporting what should be an obviously unsuitable candidate to remove an unsuitable president. A problem with the Buharists in the run up to the 2015 election was the gusto with which they painted Buhari as the second coming of a messiah. This was not a message of vote for Buhari because GEJ is awful, but vote for Buhari because he is what Nigeria needs. |
The Afikpo chick was a lady of the night in the US and a "madam", she appeared on Howard Stern's show. She was later deported. |
From what I gather of the OP's argument, the allocation formula disincentives agricultural production/exports. This is insufficient as a primary explanation of the relative erosion of our agricultural sector as it is premised on governmental initiative/endeavour comandeering growth in agriculture. The reason for the relative decline in agriculture lies mainly in the impact of forex inflow from oil exports on the competitiveness/viability of non-oil exports (including agriculture). Forex flowing in from oil increased domestic money supply and domestic inflation. As Nigeria had a fixed exchange rate regime in the 1970s, I stand corrected, the return on exports did not adjust to offset the depreciation in the exchange rate. Thought experiment: supposing you export palm oil and earn $1m which you convert to N1m in 1973 (not using actual exchange rates in this analysis). If you have domestic annual inflation of 20% but the exchange rate is stable, your N1m income in 1974 cannot buy the same things it bought in 1973 (you need the CBN to allow the Naira to fall to N1.2 to $1). If this keeps happening each year, you find there is no need to keep exporting your agricultural goods as your purchasing power is being eroded by inflation and the Naira's strength. In summary, what is described above is the impact of real exchange rate appreciation on export competitiveness. This is the main channel via which the oil boom of the 1970s eroded our strength in agriculture. |
While I agree that the FG can do more, seeing the zero-tolerance the army showed Shias and IPOB, let's not forget that Fulani herdsmen violence was widespread during the GEJ era. It was during his administration that they made the top 5 of the world's most deadly groups: [url]https://www.google.co.uk/amp/www.independent.co.uk/news/world/africa/global-terrorism-index-nigerian-fulani-militants-named-as-fourth-deadliest-terror-group-in-world-a6739851.html%3famp[/url]. I think the collapse of Libya led to a proliferation of arms. Add desertification, economic deprivation and demographic challenges (high birth rates amongst Fulanis) and you will realise this is only the beginning. |
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