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Ghana Protests Over Inflation - Foreign Affairs (2) - Nairaland

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Re: Ghana Protests Over Inflation by NotKnown: 5:38am On Jul 02
I guess they're missing the Nigerian jollof

3 Likes

Re: Ghana Protests Over Inflation by Quintopia: 5:39am On Jul 02
Bridget95:
I have not seen a people as lazy as Ghanaians. All they know is SEX

LOL.....Really?
Re: Ghana Protests Over Inflation by Quintopia: 5:40am On Jul 02
Bridget95:
Its hell to live in a toxic society like naija where ethno-religeous views of its citizens keeps them down. How do you explain that a country with the highest deposit in gas and six producer of oil in the world

14th largest. not 6th.

https://en.wikipedia.org/wiki/List_of_countries_by_oil_production

And Nigeria does not have anywhere near ''the highest deposit in gas''.

can't boast of 2 hours of steady electricity nationwide?

STOP LYING.

19 Likes 1 Share

Re: Ghana Protests Over Inflation by galantjoe(m): 5:43am On Jul 02
FreeStuffsNG:

For most folks like you, you do not value what you have until you lose it.

That is why we do not take our successes in Lagos for granted. We Lagosians suffered more than the rest of the country prior to 1999 and it was that our resolve never to allow that kind of suffering happen again in our land that has kept us on our toes in Lagos since 1999 when the amazingly talented Senator Bola Ahmed Tinubu took over the rein from Col. Buba Marwa.

Today, our economy in Lagos is bigger than the economy of the whole of Ghana. Amongst our many feats in Lagos is the Lekki deep seaport, conceived 13 years ago by Asiwaju Tinubu, that recieved its first cargo ship this week. This deep seaport is the first in Nigeria and the best in West Africa.
You can draw inspiration from our success story in Lagos wink

If you are suffering in Nigeria now, it is because you have been outcompeted. You probably waste your time online and on social media.

While you stay online and lament, other young focused ambitious Nigerians are competing for the same opportunities you seek.

Those eventual winners do not have time for nairaland and the social media. They do not even have time for pity or lamentation party.

That you do not know how terrible and worse the Ghaniaians case is alone says a lot about how conversant you are about their state yet very quick to disparage.

Ghana redenominated their old cedis in 2007 by knocking off four zeros and between then and now their new cedis has lost value by over ten times such that one new cedi is an equivalent of 100K old cedis or more!

Thankfully, my late President Yardua stopped Prof. Soludo from that dangerous experiment of redenominating the naira and today naira has not been redenominated. My N100K in 2017 is not today worth N1 or less. I thank God and late HE Yardua for stopping Soludo.

Ghana was one of the countries that the IMF and others cancelled their debts completely unlike Nigeria that had to pay about $18 billion during the Pa Obj era yet today, Ghana is back in so much debt even more than it was before her debts were forgiven.

Between 2020 and last year, it was so bad for Ghana that they ran out of forex and had to be bailed out by IMF with $1 billion and Ghana is not yet out of the woods. Last Ghana inflation number was approximately 30% and still not abating amidst high unemployment and scarcity of goods and foods.


Their Ghana stock exchange is nothing to write home about yet this year 2022 alone, our own Nigeria Stock exchange has broken and exceeded the record it last reached before the 2018 global meltdown, printing money for local investors.
Thank God that CBN under Emefiele blocked the useless fraudulent cryto ponzi, the favorite 'food' of lazy and gullible Nigerian youths, may be by now the fraudsters behind crypto and nfts would have killed the naira and most of the "greater fool" liquidated 80K crypto millionaires would have come from Nigeria!

Ghana struggles to pay us for the energy we export to them and when we closed our border, Ghana was on her knees economically and politically while their effort at frustrating some of our nationals in Ghana also backfired.

Ghana has a bizarre and very primitive business system that forbids a foreigner from registering a business and owning a company in their small country unlike Nigeria where CAC is very liberal.
Watch how many of them will get to Nigeria now and start their own businesses yet we do not discriminate against them. Nigeria is a big brother to Ghana and we have always bailed them out.

Ghanaians are in soup but thank God they have a big brother and a second home in Nigeria. The original and current traditional landowners in their capital are ethnic Yoruba who migrated to Ghana from Ile Ife like a century ago and they have since traced back their origin to Ile Ife where Ooni assured them that they will always be welcomed back home.

So while the Yoruba in Nigeria are doing well there are things the descendants of Yoruba in Ghana are not doing well but can always rediscover and get back on their feet.

Nigeria is a safe haven for Ghanaians and Nigeria is far far ahead of Ghana.

The biggest bane of underdevelopment is poor leadership. The system of leadership in some African countries ties economic, finance, social, religious, foreign affairs, etc with their presidency. There is no status quo, the untouchable area a presidency cannot go. Unlike developed countries of the world, e.g. USA, UK, Canada, China, German, etc. Govt in power has little or no power in some certain area of statehood. Technocrats runs those most technical sectors of the economy like health, finance and bank, trade and commerce, IT, manufacturing, etc Many areas are fundamental and to change it needs legislation, which is always rigorous. But here in Africa, every president of a country will impose his immature and inexperienced economic, social, finance and religious policies within his or her whims and caprice. Mostly personal interests usually override national interest in most of developing countries decisions. Worst of it all, they will appoint somebody that did pass Economics / commerce / financial accounts in his or her WAEC to head ministries of finance, economic planning, etc. He can't give what he doesn't have.

Africa has not gotten a better system of govt that would suit the peculiarities of the continent in achieving its developmental objectives. Govt should be continuity but in Ghana and Nigeria, it is not so. The Ghananian president has omnipotent power to do and undo whereupon he has very limited technical know-how in political economics

26 Likes 4 Shares

Re: Ghana Protests Over Inflation by henryobinna(m): 5:46am On Jul 02
Bridget95:
Thumps up bro,your write up is educating unlike some fools on this forum who write ethno- religious bigoted stuff here
This same person writes lots of ethno-religious bigoted posts on the forum. I was shocked when I stumbled on one of them.

5 Likes 1 Share

Re: Ghana Protests Over Inflation by Nobody: 5:54am On Jul 02
Quintopia:


Things are far cheaper in Nigeria than in Ghana dude.

You need to see how expensive things are in Ghana now, even food.

Boys are not smiling there at all.
I agree with you. Things are usually cheaper in Nigeria than Ghana. Nigerians living in Ghana always buy things in Nigeria. So if inflation is now very high there then there is serious cause for concern.

However, if only Nigeria's economy is doing well, it will have positive ripple effect on the rest of West Africa but when it isn't, it also has a net negative effect on them.

More reasons we need Peter Obi now to help us take back naija from criminals killing our economy and Ghanaians as well as other ECOWAS countries should be praying for us, knowing their destiny is also partly attached to ours.

10 Likes

Re: Ghana Protests Over Inflation by NaMe4: 5:54am On Jul 02
JASONjnr:



The impression you have about Nigeria is extreme and it can only mean that you do not appreciate what you have.


Nigerians are hustlers, bad or good government, Nigerians will always strive....

Ghanaians are lazy and they always hope and wait on the government to do everything for them. They don't want to suffer...

They have constant power supply but can't make anything good out of it.

Give Kano or Kaduna Abia state or Anambra or Lagos or Ogun states 20hours constant power supply daily and you will see development all round the country

You further strengthened his point.

How would they survive in the typical Nigerian environment with lack of basic infrastructure to start with?

2 Likes 2 Shares

Re: Ghana Protests Over Inflation by Quintopia: 5:58am On Jul 02
Assetinvestor:
I agree with you. Things are usually cheaper in Nigeria than Ghana. Nigerians living in Ghana always buy things in Nigeria. So if inflation is now very high there then there is serious cause for concern.

However, if only Nigeria's economy is doing well, it will have positive ripple effect on the rest of West Africa but when it isn't, it also has a net negative effect on them.

More reasons we need Peter Obi now to help us take back naija from criminals killing our economy and Ghanaians as well as other ECOWAS countries should be praying for us, knowing their destiny is also partly attached to ours.

I honestly don't think Peter Obi is the only candidate capable of moving Nigeria forward. Revamping this economy is not rocket science. Tinubu, and to some extent Atiku can bring some progress too, with the right policies.

20 Likes

Re: Ghana Protests Over Inflation by tsdarkside(m): 6:18am On Jul 02
zero cancellars,idiottss....

nigerians are stvpid,bahh....??
Re: Ghana Protests Over Inflation by SmartPolician: 6:30am On Jul 02
Countries need people who understand Economics to run them now. If we make the mistake of not voting for Peter Obi, $1 to #600 will be a joke by the end of 2023. It may go beyond 1,500 per USD by that time. To be forewarned is to be forearmed.

2 Likes

Re: Ghana Protests Over Inflation by SEGLIZ: 6:45am On Jul 02
Quintopia:


You're wrong. Ghana actually has more resources than Nigeria for her population size. She is a major gold and cocoa exporter, and also exports oil and gas. She only has 25 million people, so the people there should have a very high standard of living. Where has all the money gone? And now she's on her knees to the IMF. I can't remember when last Nigeria approached the IMF for assistance. I think it was back in the days of military rule, with Babangida, around 30 years ago!!

And we all know the one-size-fits-all IMF solution - structural adjustment programmes which will force Ghana to devalue her currency, and open her economy to even more imports ('trade liberalization' as the IMF calls it) making her economy even more import-dependent and worsening industrial growth and unemployment.
these noddles and dipper generations won't understand this whole you wrote. many blaming buhari today won't and don't know ibb brought Nigeria to canvas. that isn't exonerating successive government even Buhari for they should have gotten it right.

4 Likes

Re: Ghana Protests Over Inflation by georjay(m): 6:57am On Jul 02
SmartPolician:
Countries need people who understand Economics to run them now. If we make the mistake of not voting for Peter Obi, $1 to #600 will be a joke by the end of 2023. It may go beyond 1,500 per USD by that time. To be forewarned is to be forearmed.
BS

3 Likes

Re: Ghana Protests Over Inflation by obembet(f): 7:00am On Jul 02
FreeStuffsNG:

For most folks like you, you do not value what you have until you lose it.

That is why we do not take our successes in Lagos for granted. We Lagosians suffered more than the rest of the country prior to 1999 and it was that our resolve never to allow that kind of suffering happen again in our land that has kept us on our toes in Lagos since 1999 when the amazingly talented Senator Bola Ahmed Tinubu took over the rein from Col. Buba Marwa.

Today, our economy in Lagos is bigger than the economy of the whole of Ghana. Amongst our many feats in Lagos is the Lekki deep seaport, conceived 13 years ago by Asiwaju Tinubu, that recieved its first cargo ship this week. This deep seaport is the first in Nigeria and the best in West Africa.
You can draw inspiration from our success story in Lagos wink

If you are suffering in Nigeria now, it is because you have been outcompeted. You probably waste your time online and on social media.

While you stay online and lament, other young focused ambitious Nigerians are competing for the same opportunities you seek.

Those eventual winners do not have time for nairaland and the social media. They do not even have time for pity or lamentation party.

That you do not know how terrible and worse the Ghaniaians case is alone says a lot about how conversant you are about their state yet very quick to disparage.

Ghana redenominated their old cedis in 2007 by knocking off four zeros and between then and now their new cedis has lost value by over ten times such that one new cedi is an equivalent of 100K old cedis or more!

Thankfully, my late President Yardua stopped Prof. Soludo from that dangerous experiment of redenominating the naira and today naira has not been redenominated. My N100K in 2017 is not today worth N1 or less. I thank God and late HE Yardua for stopping Soludo.

Ghana was one of the countries that the IMF and others cancelled their debts completely unlike Nigeria that had to pay about $18 billion during the Pa Obj era yet today, Ghana is back in so much debt even more than it was before her debts were forgiven.

Between 2020 and last year, it was so bad for Ghana that they ran out of forex and had to be bailed out by IMF with $1 billion and Ghana is not yet out of the woods. Last Ghana inflation number was approximately 30% and still not abating amidst high unemployment and scarcity of goods and foods.


Their Ghana stock exchange is nothing to write home about yet this year 2022 alone, our own Nigeria Stock exchange has broken and exceeded the record it last reached before the 2018 global meltdown, printing money for local investors.
Thank God that CBN under Emefiele blocked the useless fraudulent cryto ponzi, the favorite 'food' of lazy and gullible Nigerian youths, may be by now the fraudsters behind crypto and nfts would have killed the naira and most of the "greater fool" liquidated 80K crypto millionaires would have come from Nigeria!

Ghana struggles to pay us for the energy we export to them and when we closed our border, Ghana was on her knees economically and politically while their effort at frustrating some of our nationals in Ghana also backfired.

Ghana has a bizarre and very primitive business system that forbids a foreigner from registering a business and owning a company in their small country unlike Nigeria where CAC is very liberal.
Watch how many of them will get to Nigeria now and start their own businesses yet we do not discriminate against them. Nigeria is a big brother to Ghana and we have always bailed them out.

Ghanaians are in soup but thank God they have a big brother and a second home in Nigeria. The original and current traditional landowners in their capital are ethnic Yoruba who migrated to Ghana from Ile Ife like a century ago and they have since traced back their origin to Ile Ife where Ooni assured them that they will always be welcomed back home.

So while the Yoruba in Nigeria are doing well there are things the descendants of Yoruba in Ghana are not doing well but can always rediscover and get back on their feet.

Nigeria is a safe haven for Ghanaians and Nigeria is far far ahead of Ghana.

Don't mind those bastard dear.... They complain about Lagos everyday yet they dare it go back to thier desert. Lagos as turn to thier London. Awon omo irankiran

11 Likes 1 Share

Re: Ghana Protests Over Inflation by omenka(m): 7:08am On Jul 02
GreatBoss:
Its like jumping from frying pan to fire.

Ghanians are not that dumb.
When they say make una travel, get some exposure and enlightenment, una no go gree.

This is one of the most ignorant comments I've read in a long time. Do you have any idea the cost of the commodities there in comparison to Nigeria?

13 Likes

Re: Ghana Protests Over Inflation by kingthreat(m): 7:19am On Jul 02
Bridget95:
Its hell to live in a toxic society like naija where ethno-religeous views of its citizens keeps them down. How do you explain that a country with the highest deposit in gas and six producer of oil in the world can't boast of 2 hours of steady electricity nationwide in its over 60yrs of existence?

That hell is what over 200 million people are living in. If you're living in Nigeria and you consider the country hell, I advice you jump into the nearest deep body of water to ease the fire.

8 Likes

Re: Ghana Protests Over Inflation by ebufa: 7:21am On Jul 02
FreeStuffsNG:

For most folks like you, you do not value what you have until you lose it.

That is why we do not take our successes in Lagos for granted. We Lagosians suffered more than the rest of the country prior to 1999 and it was that our resolve never to allow that kind of suffering happen again in our land that has kept us on our toes in Lagos since 1999 when the amazingly talented Senator Bola Ahmed Tinubu took over the rein from Col. Buba Marwa.

Today, our economy in Lagos is bigger than the economy of the whole of Ghana. Amongst our many feats in Lagos is the Lekki deep seaport, conceived 13 years ago by Asiwaju Tinubu, that recieved its first cargo ship this week. This deep seaport is the first in Nigeria and the best in West Africa.
You can draw inspiration from our success story in Lagos wink

If you are suffering in Nigeria now, it is because you have been outcompeted. You probably waste your time online and on social media.

While you stay online and lament, other young focused ambitious Nigerians are competing for the same opportunities you seek.

Those eventual winners do not have time for nairaland and the social media. They do not even have time for pity or lamentation party.

That you do not know how terrible and worse the Ghaniaians case is alone says a lot about how conversant you are about their state yet very quick to disparage.

Ghana redenominated their old cedis in 2007 by knocking off four zeros and between then and now their new cedis has lost value by over ten times such that one new cedi is an equivalent of 100K old cedis or more!

Thankfully, my late President Yardua stopped Prof. Soludo from that dangerous experiment of redenominating the naira and today naira has not been redenominated. My N100K in 2017 is not today worth N1 or less. I thank God and late HE Yardua for stopping Soludo.

Ghana was one of the countries that the IMF and others cancelled their debts completely unlike Nigeria that had to pay about $18 billion during the Pa Obj era yet today, Ghana is back in so much debt even more than it was before her debts were forgiven.

Between 2020 and last year, it was so bad for Ghana that they ran out of forex and had to be bailed out by IMF with $1 billion and Ghana is not yet out of the woods. Last Ghana inflation number was approximately 30% and still not abating amidst high unemployment and scarcity of goods and foods.


Their Ghana stock exchange is nothing to write home about yet this year 2022 alone, our own Nigeria Stock exchange has broken and exceeded the record it last reached before the 2018 global meltdown, printing money for local investors.
Thank God that CBN under Emefiele blocked the useless fraudulent cryto ponzi, the favorite 'food' of lazy and gullible Nigerian youths, may be by now the fraudsters behind crypto and nfts would have killed the naira and most of the "greater fool" liquidated 80K crypto millionaires would have come from Nigeria!

Ghana struggles to pay us for the energy we export to them and when we closed our border, Ghana was on her knees economically and politically while their effort at frustrating some of our nationals in Ghana also backfired.

Ghana has a bizarre and very primitive business system that forbids a foreigner from registering a business and owning a company in their small country unlike Nigeria where CAC is very liberal.
Watch how many of them will get to Nigeria now and start their own businesses yet we do not discriminate against them. Nigeria is a big brother to Ghana and we have always bailed them out.

Ghanaians are in soup but thank God they have a big brother and a second home in Nigeria. The original and current traditional landowners in their capital are ethnic Yoruba who migrated to Ghana from Ile Ife like a century ago and they have since traced back their origin to Ile Ife where Ooni assured them that they will always be welcomed back home.

So while the Yoruba in Nigeria are doing well there are things the descendants of Yoruba in Ghana are not doing well but can always rediscover and get back on their feet.

Nigeria is a safe haven for Ghanaians and Nigeria is far far ahead of Ghana.







your orgy of ethnic nationalism and triumphalism is dead in the water! Nigeria for the first time defaulted in its eurobond scheduled repayment! now that is a big deal.............to make our case even worse ,Nigeria is officially the most terrorized nation in the universe.................your spin is too much abeg!

8 Likes 2 Shares

Re: Ghana Protests Over Inflation by kingthreat(m): 7:21am On Jul 02
SmartPolician:
Countries need people who understand Economics to run them now. If we make the mistake of not voting for Peter Obi, $1 to #600 will be a joke by the end of 2023. It may go beyond 1,500 per USD by that time. To be forewarned is to be forearmed.

Peter Obi understands economics so well that he could not even transform Anambra to the economic hub of the South East.

20 Likes 1 Share

Re: Ghana Protests Over Inflation by SmartPolician: 7:34am On Jul 02
kingthreat:


Peter Obi understands economics so well that he could not even transform Anambra to the economic hub of the South East.


You know nothing about the South East.

Stop disgracing yourself in a popular forum because you want to defend your oppressor.

6 Likes 1 Share

Re: Ghana Protests Over Inflation by Axis313(m): 7:38am On Jul 02
Quintopia:


You're wrong. Ghana actually has more resources than Nigeria for her population size. She is a major gold and cocoa exporter, and also exports oil and gas. She only has 25 million people, so the people there should have a very high standard of living. Where has all the money gone? And now she's on her knees to the IMF. I can't remember when last Nigeria approached the IMF for assistance. I think it was back in the days of military rule, with Babangida, around 30 years ago!!

And we all know the one-size-fits-all IMF solution - structural adjustment programmes which will force Ghana to devalue her currency, and open her economy to even more imports ('trade liberalization' as the IMF calls it) making her economy even more import-dependent and worsening industrial growth and unemployment.
And it is that Structural Adjustment Programme that is still affecting Nigeria till today,anything IMF touches turn to dust.They know what they are doing,you approach them for help,but instead of helping you,they triple your problem for you.

5 Likes 2 Shares

Re: Ghana Protests Over Inflation by Nukilia: 7:44am On Jul 02
poshestmina:

Honestly,those people are worst than South Africans.
Very bitter with Nigerians.

May your days be long. You have been able to summarize the type of people they are.
undecided
Re: Ghana Protests Over Inflation by Nukilia: 7:46am On Jul 02
able20:
The question now how do we bring back our japa Kids that moved to Ghana and married Ghanian ladies can they return back.

Advice them to come back to Nigeria. Ghana is on a downward spiral economically.

5 Likes 1 Share

Re: Ghana Protests Over Inflation by Nukilia: 7:50am On Jul 02
kingthreat:


Peter Obi understands economics so well that he could not even transform Anambra to the economic hub of the South East.

grin you are not far from the truth. Anambra should've been a model for Nigeria but ...

7 Likes

Re: Ghana Protests Over Inflation by harmargedon: 7:59am On Jul 02
zoedew:
Nigerians who ran to Ghana had better be on their way back before they become victims of transferred aggression.

1 Like

Re: Ghana Protests Over Inflation by Eleponblue(m): 8:16am On Jul 02
Quintopia:
A dramatic economic downturn in Ghana is turning the once-peaceful nation into a hotbed of furious mass discontent, and angry demonstrations over rising prices and rising unemployment, among other issues.

Ghanaians are now emigrating in droves, with Nigeria, the regional economic powerhouse, a favoured destination for many of them.

See full report from Al Jazeera:

Protests Over Economic Woes Enter Second Day in Ghana

Frustration has grown in recent months as Ghanaians bear the brunt of rampant inflation amid government efforts to redress the economy.



Demonstrators in Ghana’s capital have gathered for a second day of protests against spiralling inflation and other economic woes after the first day ended in clashes with police and 29 arrests.

Wednesday’s protests kicked off at about noon GMT amid a heavy police presence.

Hundreds had taken to the streets on Tuesday to denounce price hikes, a tax on electronic payments and other levies amid an economic downturn.

Police dispersed the authorised march with tear gas and water cannon after demonstrators turned violent and wounded a dozen officers, according to a statement.

They arrested 29 demonstrators for “attacks and damage to public property” and were reviewing footage of the event to identify more participants.

A senior member of the local “Arise Ghana” lobby group that organised the protest, Sammy Gyamfi, told Reuters that police had agreed to provide security for demonstrations on the second day.

The police did not immediately respond to a request for comment.

Ghana, one of West Africa’s largest economies and the continent’s second-biggest gold producer, saw growth slow to 3.3 percent year on year in the first quarter of 2022 and inflation hit a record of 27.6 percent in May.

Frustration has grown in recent months as Ghanaians bear the brunt of rampant inflation amid government efforts to redress the economy, reappreciate the local currency and avoid a debt crisis....

Last August, citizens also took to the streets in a protest demanding accountability and good governance. The protests went viral on social media under the #fixthecountry hashtag, which is being used again for this week’s demonstrations.


https://www.aljazeera.com/news/2022/6/29/protests-over-economic-woes-enter-second-day-in-ghana

Running from frying pan to fire...abeg make Una stay Una cantry o! Let's enjoy the change Apshit promised us in peace...
Re: Ghana Protests Over Inflation by KEVIND: 8:16am On Jul 02
Passionate888:
No mention of migrating to Nigeria in the article na.
I wonder ooo.
The OP is trying to make it look as if Ghanians prefer Nigeria to Ghana.
Re: Ghana Protests Over Inflation by GeneralPula: 8:21am On Jul 02
kingthreat:
Many of you guys know nothing.
It is more expensive to live in Ghana than in Nigeria. Nigeria is one of the cheapest African countries to actually inhabit.

Very right..

Even Nigeria is cheaper to survive than Benin republic..

4 Likes 1 Share

Re: Ghana Protests Over Inflation by Nobody: 8:23am On Jul 02
Quintopia:


You're wrong. Ghana actually has more resources than Nigeria for her population size. She is a major gold and cocoa exporter, and also exports oil and gas. She only has 25 million people, so the people there should have a very high standard of living. Where has all the money gone? And now she's on her knees to the IMF. I can't remember when last Nigeria approached the IMF for assistance. I think it was back in the days of military rule, with Babangida, around 30 years ago!!

And we all know the one-size-fits-all IMF solution - structural adjustment programmes which will force Ghana to devalue her currency, and open her economy to even more imports ('trade liberalization' as the IMF calls it) making her economy even more import-dependent and worsening industrial growth and unemployment.

When I hear all this story about 'country has lot of natural resources'....I just laugh.

Having natural resources is not the issue....it is what you do with the natural resources that matters. That is why America is developed and Ghana and Nigeria and a host of other African countries are not developed. We have a lot of resources....that we sell to other countries for billions, and those other countries take those resources, and use them to make goods worth more than the cost of those same resources!

Add the fact that we do not even control the prices of those resources...price of cocoa, cotton, oil etc are set abroad in London, Paris and New York. And most of the time, the prices are below what can sustain us because everyone else is producing the same thing. (Fact-Uganda had a coffee boom in the late 1970's largely because famine in several coffee producers left Uganda being something of 'the last man standing'. Once those other coffee producers got back on their feet...prices went down. Uganda was back to square one).

When the price cannot sustain us, that is when we run to IMF for loans.

Ghana has this problem because like Nigeria they are not a manufacturing society. They instead sell raw materials, and import stufff...and when the prices go below their needs...wahala dey.

4 Likes 1 Share

Re: Ghana Protests Over Inflation by Oyiboman69: 8:23am On Jul 02
Quintopia:


What has Buhari got to do with anything?

So because you hate Buhari, you will claim Nigeria is doing worse than it actually is?
mtcheeeeew
Re: Ghana Protests Over Inflation by GeneralPula: 8:34am On Jul 02
NaMe4:


You further strengthened his point.

How would they survive in the typical Nigerian environment with lack of basic infrastructure to start with?

Ghanians are in Nigeria and they’re surviving..

Nigeria is one of the topmost priority country for Ghanaians when it comes to earning a living cuz we always welcome them and let them be stress free. Even some of them will come for a lowkey job and will end up securing a better job in Nigeria..

Nigeria is one country a foreigner can easily get job without much stress. If not for bad governance and bad habit if we citizens, Nigeria is way better than a couple Europe countries... Forget media propaganda and country beautification..

5 Likes 1 Share

Re: Ghana Protests Over Inflation by JoyousFurnitire(m): 8:39am On Jul 02
Quintopia:


Things are far cheaper in Nigeria than in Ghana dude.

You need to see how expensive things are in Ghana now, even food.

Boys are not smiling there at all.

Are you in GH?
Re: Ghana Protests Over Inflation by Nobody: 8:43am On Jul 02
Axis313:

And it is that Structural Adjustment Programme that is still affecting Nigeria till today,anything IMF touches turn to dust.They know what they are doing,you approach them for help,but instead of helping you,they triple your problem for you.

Nigeria's underdevelopment has nothing to do with the IMF and everything to do with our refusal to use our raw materials to produce useful exportable manufactured goods for export.

Basically, we have two issues.

1.We sell our raw materials at prices we don't set (Oil for example...the price is set in London, Paris and New York and probably by OPEC. Not by Nigeria. Most of the time , the price we sell it at is below sustenance...leading to us having to borrow...debt.

2.Despite the fact that we don't have enough money (as a result of 1) we spend a lot on subsidising many things (right now, we subsidise power, and petrol, before we used to subsidise diesel, kerosene, and a host of foods like bread FFS!)..WHICH puts strain on the money, and pushes us into more debt. IMF cometh.

You want to be free from the IMF....then stop subsidsing power and petrol...so that you can produce energy at a profit...which in turn fires your industry to produce manufactured goods and services for exports...which earns enough money to even do more than we can do....inlcuding subsides. Also reform the tax . Nigeria does not collect enough tax as it is...even compared to Ghana. And really fight corruption...not when it is politically expideint.

At the end, we have to work hard and make more sacrifices...not use two billion naira to fund welfare projects that really cost ten times more than that ideally.

5 Likes

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