airsaylongcome:


Yes, it's cheaper INDIVIDUALLY to buy an SUV than to pay for approval. Just like it's "cheaper" for each individual to buy a small generator than to for everyone to contribute to provide infrastructure to get electricity to our homes.

now you know how inefficient it is to have 100 generators in one building? We travel outside and see condo apartments housing 1000 families in one building. will that be possible if they were thinking about living life like this? Do you enjoy your sleep at night in a compound with 100 generators running at the same time?

Nahunger:


Did they buy the old stock at the new exchange rate

You still don't get it. After selling at old exchange rate, you won't have enough money to buy new stock. Because the price has gone up there by declaring insolvency.
Why do you think when reporting stock market goods, they say gold have appreciated or depreciated

Konjiboii:


Even the money is not the problem, but before you will get approved, might be your kids that will get it done

I'm worried about our collective destinies. We talk a lot about change but the minds are not ready yet. The black man is growing but at a very slow pace

kiddkash:

You still don't get it. After selling at old exchange rate, you won't have enough money to buy new stock. Because the price has gone up there by declaring insolvency.
Why do you think when reporting stock market goods, they say gold have appreciated or depreciated

Chai..

Metrofox:


I'm worried about our collective destinies. We talk a lot about change but the minds are not ready yet. The black man is growing but at a very slow pace

It is troubling I tell you, and we are in for a very wild ride.

TheLoneCitizen:
The good thing about this start, it can't get any worse from here.

Citizen: it can’t get any worse…
Nigeria: did you just it can’t get worse? Hold my beer…
>

Metrofox:


Is it cheaper to pay for approval collectively or to buy an suv?

Don't mind that ignoramus

If landlords of any street come together and decided to fix the road to any extent, no body will ask any body for kobo bribe.

Imagine I a street of 100 houses, do u know the owners of those houses and where they work and the positions they are connected with.


The problem in Nigeria is that we as as humans will always choose to be seen as superior and suffer secretly than come together and achieve a good goal.

We wish ourselves the best today and forever

Metrofox:


I'm worried about our collective destinies. We talk a lot about change but the minds are not ready yet. The black man is growing but at a very slow pace

That's right.

But thank God we are actually growing cox that's most important

The change will have to come from the government.

Mentality change is what Nigeria needs.

Lets see after 8years what the mind set will look like because if the mind does not change, the body does not.


I wish mu self good fortunes today and forever

Bia Mr. Dantata,
Abeg carry ur imaginations go meet ur types

U wan fix road since 16yrs aGo
E bi like say u Don drink this morning

airsaylongcome:


So the government has to budge first. If they can totally do away with corruption by their officials then that would be a good start. I know how many times I have tried to interface with government for private intervention in fixing roads leading to my village. I'm talking at least 16 years. Would you consider that "giving up at the slightest challenge"?. I don't think so

A bad and very deep ominous way to start a new administration, it has shown that they lack tact and understanding. Talk they say is cheap and very easy to say it than have it done. They have triggered energy and soon to follow, foreign exchange crisis by unnecessary pronouncements.
They have ultimately dug a pit for themselves and how they will get out of it, nobody knows. I see this administration struggling for the next four years to get themselves out of this mess.
We are still suffering the effects of IBB's policy of allowing the exchange rate of Naira to be determined by market forces when the negative effects was not put into consideration.
Good luck Presido BAT

Aboguede:
Bia Mr. Dantata,
Abeg carry ur imaginations go meet ur types

U wan fix road since 16yrs aGo
E bi like say u Don drink this morning

My village together with surrounding villages have been pushing to get the government to allow us do some intervention work on the road for at least 16 years. And I have been party to all of that interfacing with government. I don't have the funds to do it alone, but I, working as an Exco of the community development Union have been able to harness people to contribute funds towards fixing the road. And each time we have approached governments, which has been multiple times in the last 16 years, it has always been met with a demand for a huge bribe, way more than the funds that have even been mobilized. I'm not a Dantata or a Dangote with unlimited wealth, but I am very hands on with seeking the development of my village.

Metrofox:


now you know how inefficient it is to have 100 generators in one building? We travel outside and see condo apartments housing 1000 families in one building. will that be possible if they were thinking about living life like this? Do you enjoy your sleep at night in a compound with 100 generators running at the same time?

My work is mostly at night so I often need to be awake when most people have their gens on. I don't like th noise but it's a tolerable disturbance. Most people ha e their gen off in the morning when I go to sleep. My point is not about justifying the generators. I'm saying government should fix the power issue in the country and watch the petrol subsidy die a natural death.

vanitybutiwanti:
Nigerians complain about everything. What are you on about? Irrespective of when you feel the subsidy should be removed, the greedy sellers will still act the same way they are acting now because according to you it's 'business'

But it is the truth. It's "business". If the "greedy" sellers did not have a very high demand for their product would they "over price" their products? If there was power/electricity all over the country and people did not need to power their small generators would there be a high demand for petrol? When face masks was in high demand did the sellers not hike their price? Today when demand has crashed can they sell at the ridiculous prices they were selling at? A lot of people see rational business behaviour as "wicked sellers". It's not about being wicked. It's the default behaviour of humans. If you have a product that is in demand, you will continue to raise your prices until the market refuses to buy. That's not wickedness. That's rationality

Mumu tinubu sending panic into the market with his dirty mouth

This is what happens when a dead government is elected

Sageez:

https://www.youtube.com/watch?v=H1joKUeXOTc

See pictures and video of some filling stations in Obio/Akpor lga this morning.

hisexcellency34:
Nigerians are evil to themselves. Immediately the new president made the announcement, all the fuel stations changed their prices

That is where he needs to stamp is his authority and put everybody on line. He should not act weak like Buhari.

airsaylongcome:


But it is the truth. It's "business". If the "greedy" sellers did not have a very high demand for their product would they "over price" their products? If there was power/electricity all over the country and people did not need to power their small generators would there be a high demand for petrol? When face masks was in high demand did the sellers not hike their price? Today when demand has crashed can they sell at the ridiculous prices they were selling at? A lot of people see rational business behaviour as "wicked sellers". It's not about being wicked. It's the default behaviour of humans. If you have a product that is in demand, you will continue to raise your prices until the market refuses to buy. That's not wickedness. That's rationality

There's nothing any government can do to pacify Nigerians, during the build up to the elections, the major frontrunners agreed to do away with subsidy, it has been done now and Nigerians are pontificating and postulating online. We are spending almost 100% of our revenue on debt servicing so where will the country get cash to fix electricity in such a short time? Many of you are not realistic, is it not best to do away with an issue that has lingered for over 10 years.

hisexcellency34:
Nigerians are evil to themselves. Immediately the new president made the announcement, all the fuel stations changed their prices

Of course they are. But on this, it’s Tinibu’s fault. That statement was reckless and hasty. Mind you, businesses react to speculations and political statements anywhere in the world. Same way Economic powers carry weight too. Example, one tweet from Elon Musk on Crypto, can skyrocket the price of coins.
Anyways, people always panick because what if you sell your fuel at 100 naira and go back again to buy, it’s now 1k, which money you go take buy am?

airsaylongcome:


Nwannem, (I'm not Igbo though) you got your business lessons from Onitsha main market. Real life lessons, not theory classes in a University

There are successful businessmen in main market. What’s your point?

nnadychuks:

There are successful businessmen in main market. What’s your point?

You didn't see my comment as a compliment? Okay, no worries

airsaylongcome:


Have you ever tried to fix roads in this country? From your personal funds? You will be shocked to find out that you need government approval to do so. And people within the government will demand huge bribes for that. So if you had say a billion to fix the road, with bribes it will cost you 3bn. And that doesn't include the cost of maintaining and keeping the roads motorable after they have been built. Any rational person would rather go for the cheaper option of buying an SUV instead of spending an endless amount of money bribing government officials

^^^
Years ago, the road in front of (or was it behind?) Mobil's HQ in Victoria Island was an eyesore. I asked why the local government had abandoned such a high traffic, high profile road and never got a reasonable answer. I later heard that Mobil had volunteered to fix the road - only for local and state government officials to refuse the request. Apparently, the officials wanted some gratification - some accounts had it that the officials wanted Mobil to release the money to them directly. Well...the story has it that Mobil refused to play ball and so the road was left to rot for years.

And yet every Friday and Sunday we disturb the peace, claiming we are praying to God. We also condemn atheists and agnostics as heathen scum who should be avoided at all costs.

Yeye dey boom.

ursullalinda:



And in your own thinking this is the best way to remove it....smh...People will always act as there leaders

How best do you want it removed? Even your Peter Obi and Atiku planned removing subsidy immediately they become the president. So kindly explain how best to remove it.

Dareal90s:

How best do you want it removed? Even your Peter Obi and Atiku planned removing subsidy immediately they become the president. So kindly explain how best to remove it.

When a failure leads a nation...his subjects are expected to act alike...may God deliver us from this calamity.

ursullalinda:


When a failure leads a nation...his subjects are expected to act alike...may God deliver us from this calamity.

You were asked to give a tip on how best subsidy can be removed but you decided to dribble yourself, better face reality, nothing concern God with government policy.

Sir pls wat is subsidy. I dont mean to insult u o.

I just want to learn. Good morning

lebron7:

What are you even saying
'Dangote was never going to operate his refinery with subsidy, otherwise he would go broke.'
Do you even know what subsidy is?

Pls wat is subsidy?

I want to learn

Love800:
Sir pls wat is subsidy. I dont mean to insult u o.

I just want to learn. Good morning

Good morning
So let's say in your community there are few cassava processors but the people there really need garri, the next best thing would be to buy/Import from another village, yeah?

Now the logistics would be added to the selling price, understand?

Now garri would increase from 30naira per cup to 55 naira per cup. Your king sees that the people in his village would not be able to feed well and he says the community funds would be used to make it cheaper by paying 20naira for each cup from that community fund.

So now garri is going to be 35 naira. Not bad, right? Now the problems arise when consumption of garri increases and the community funds that would have been used to make better garri processing plants and good roads are used to subsidize the cost of garri gotten from another community. Don't forget as the consumption increases the community pays more.

Let's add corruption also; the community doesn't buy the garri directly but pays to the traders that buy from another community. Now a trader can bring in garri and get the subsidy money but take it to another community where he/she can sell at a higher price, some would say they brought 5 bags of garri meanwhile they brought 1 thereby costing the community funds that could be used for better things.

Do you understand now?

Yea i understand

So subsidy means when govt makes price of something low by paying some quater to it. Am i right? And dat money suppose to be use to maintain or build new things. Am i also right?

lebron7:

Good morning
So let's say in your community there are few cassava processors but the people there really need garri, the next best thing would be to buy/Import from another village, yeah?

Now the logistics would be added to the selling price, understand?

Now garri would increase from 30naira per cup to 55 naira per cup. Your king sees that the people in his village would not be able to feed well and he says the community funds would be used to make it cheaper by paying 20naira for each cup from that community fund.

So now garri is going to be 35 naira. Not bad, right? Now the problems arise when consumption of garri increases and the community funds that would have been used to make better garri processing plants and good roads are used to subsidize the cost of garri gotten from another community. Don't forget as the consumption increases the community pays more.

Let's add corruption also; the community doesn't buy the garri directly but pays to the traders that buy from another community. Now a trader can bring in garri and get the subsidy money but take it to another community where he/she can sell at a higher price, some would say they brought 5 bags of garri meanwhile they brought 1 thereby costing the community funds that could be used for better things.

Do you understand now?

Love800:
Yea i understand

So subsidy means when govt makes price of something low by paying some quater to it. Am i right? And dat money suppose to be use to maintain or build new things. Am i also right?

Correct

Tank u i appreciate.

But i want get a clearer picture on ur last paragraph

When the trader is selling stuff at a higher price in another village after collecting the subsidy money, cant the villagers tell dat there is already subsidy nd they should not believe the trader because he is telling lies?

lebron7:

Correct

Love800:
Tank u i appreciate.

But i want get a clearer picture on ur last paragraph

When the trader is selling stuff at a higher price in another village after collecting the subsidy money, cant the villagers tell dat there is already subsidy nd they should not believe the trader because he is telling lies?

Law of demand and supply
In this scenario the price is already high in the other village and they don't have subsidy