What do you expect when you vote an old man into power

Nigerians miss Peter obi... Peter obi would had addressef all this problems and strengthened the naira and to have value

And they said he is an accountant

This is outrageous! God we need

This is getting out of hand.

nnewsnjobs:
But where are all those economist both foreign and local ones including our own renounce economist Bismarck Rewane who said that the real naira value is around #700 or between #650 to #750. Can they come and tell us what is really happening and how to solve this problem.

Actually everyone of them is clueless

The last time we had sensible people in our affairs were during Good luck era

Presently nothing
And the scary thing is we are on uncharted waters for the first time

Those in charge don't have a clue on what to do


Bad things were done past 8 years now the fruit has matured and this is the result


May God have mercy on us as a people 🙏 Amen

mrvitalis:
On your mandate we shall stand

Maybe most of you don't understand this

If you earned 200k as at may 29th .... The value of your salary is now about 100k

/

Na!

If you earned N240k in May, the current value of your salary is N90k. It is that bad.

/

yarimo:

Yarimo, I'm 100% sure you have alternate Nairaland accounts that you use in insulting the hell out of Tulumbu and his incompetent government. Continue doing your job though. Man must whack!

emmaodet:


You can't blame the citizens much.
There is little a citizen can do if the government is bad.
Good citizen is directly proportional to good government.
There is little citizens can do when there are not stable 24hrs electricity to run a factory or company that produces jobs and taxes for government.
There is little a farmer can produce when his security is not guaranteed in the farm and bad roads to bring harvested crops to cities and no post harvest storage on ground for crops that can't be sold in days time.
I closed my vegetable oil factory last year due to power issues.
Many have closed and many will still close

I haven't looked at the numbers, but would solar installation by Daystar Power do the magic? Power is a major issue, but how are the Indians and Chinese still in business? That stuff bewilders me.

iwaeda:


https://leadership.ng/just-in-naira-crashes-to-n1210-to-us-dollar/

We warned them. The small 8k they plan to transfer to you for being an agbadorian is currently worth $6.6 dollars. By the time it gets to your respective accounts it will be worth $3. Ewedu-brained imbeciIes.

I must laugh.. indeed

well, agbadorians still get naira at N400 per dollar. If you doubt me, ask Tiefnubu

ogbe88:
U will soon be in jail, if u dot take time.

Jailer ni

Fellow Nigerians is it okayyyy? Nooooo!!!

Where is Reno Omokiri when you need him most?

I've been shouting buy and hold bitcoin for almost a decade now as a way to protect yourself from Naira's devaluation.

What do u expect from a government that is clueless and has no business being in office at all.

Useless people..... Even as clueless as Buhari is, he told you guys Asiwaju is never an option, and would rather an Igbo person from the tribe he loathes take over, but these fallen demons would not listen. Una go chop grass soon!

If the commander in chief of certificate forgers survive SC, while you guys chop graas and gnash your teeth, him & his spend drift would continue to attend Owambe party abroad with hookers high on cocaine!

Mad people! Honestly, una pain dey give me joy! Just like the pain of Gaza dey give me joy! As Gazans say dey like Hamas, na so their pain go dey go me joy. As these miscreants say looters and forgers dey give them joy, na so their pain go dey give me joy!

From a confidential info i sighted, prepared by PwC ~ Price Waterhouse Coopers, FX projections for most African Countries is estimated to lose nearly 70% of its value within the next 9 months!

If you get small space or land, just go plant garden for veggies, thank me later!

iwaeda:


https://leadership.ng/just-in-naira-crashes-to-n1210-to-us-dollar/

Even ordinary sefa wey francophone countries dey use don get value pass naira, Nigeria is in ruins at the moment.

See them, may God help Nigeria.

It's now 1250.

fineboynl:
It's now 1250.

It is well.

Nigerians won't feel the impact until December. Whatever we think we are going through now are mere rehearsals.

External borrowing and excess importation contributed to fall of Naira

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Acidosis:


It is well.

Nigerians won't feel the impact until December. Whatever we think we are going through now are mere rehearsals.

I no dey buy garri with dollar,why disturb here,take ya dollar news to smugglers and economic sabotuers

Jikesonoje:
External borrowing and excess importation contributed to fall of Naira

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feel what?
Stop improving nonsense into this country
We don't need foreign furniture import
We don't need fossil fuel tukunbo cars import
We don't need toothpick import
We don't need moet,henesse,luxury items import etc.

What we need are agric inputs
What need are two solid refineries
What we need more medical pharma items
What we need more solar panels and batteries flooded in naija like faleke does in lagos
What we need are edu and tech transfers from USa,China and Japan
Import what is sensible in this econs time.
Make una get sense my naija ppl and stop being ignoramus and misplacing priorities.

Gerrard59:


I haven't looked at the numbers, but would solar installation by Daystar Power do the magic? Power is a major issue, but how are the Indians and Chinese still in business? That stuff bewilders me.

Site your enterprise in a good location.
And outline the budget for steady power.
If you can't make provision for the surcharge, do not open shop.

You may have to meet your local DISCO halfway.
Or team up with non-competitors in your locale.
Some businesses cleverly set up shop close to gas infrastructure. Pipeline, plant... Then sign a multi-year contract.

Opening a factory in Ota beats doing the same in some random location elsewhere.
It'll be more expensive, but it'd be less risky.
And if you're going to rely on a Perkins and AGO; then be damn sure your business is cash flow heavy and has a high CRR.
So you can conveniently paper over the swift increases that can happen.

DayStar Power is excellent.
The fact that they're owned by Shell eliminates concerns about longevity.
Else the FX crises would have been rough on their business model.

To start a business in Nigeria.
You plan. Then you plan again.
Establish a buffer.
Then be prepared to move mountains when unforeseen challenges arise.

-Lord

InvertedHammer:

/

Na!

If you earned N240k in May, the current value of your salary is N90k. It is that bad.

/

It is the primary reason why Big Business hastily raised wages then.
Delay is dangerous.

-Lord

Shijawesss:
Muslim-muslim ticket ..

We need a Christian leader to change this country

All the Muslims leaders have failed us

Anyway God bless the good people of Southsouth and Southwest

No we need to divide the useless country cuz Nigeria is working and will never be better

the only solution is to dollarize the Nigerian economy, see Ecuador, Panama, and even Montenegro that adopted the Euro...
even Argentina is planning on dollarising
scrap the CBN.

Gerrard59:


I haven't looked at the numbers, but would solar installation by Daystar Power do the magic? Power is a major issue, but how are the Indians and Chinese still in business? That stuff bewilders me.

I doubt that bro.
To the best of my knowledge, solar can only power single phase machines or engines and not industrial 3-phase machines.
You only need 1 line out of the 3 lines in a pole to power a house but you need the complete 3 lines full 220v to power and run a 3-phase industrial machine.
Why are the chi ese and indians succeeding? Many are failing but you won't know since we are not among them or their clicks.
I know 2 or 3 indian companies that has folded up in my area and they have gone back to their country.
Also, most Chinese and indian companies succeed because they have huge cash to start and run a company which many Nigerians too do anyway.
A case study of my biz - many people are still running my type of biz in the north - Kano and gombe as case study and it is profitable and it's what they are using to feed their families.
It is all about working in clusters.
If you are starting a biz as a fresher, my advise is to start a biz and work in clusters. That way, you are protected.
A Chinese or India that wants to run my biz would have a huge warehouse where they store groundnuts at cheap season that will last them atleast a year to the next cheap season and have 2 or more machines running at a go there by avoiding mechanical breakdown of 1 with spare parts on standby in the warehouse to change immediately and continue processing.
They will have a technician and electrician on standby to fix any power issues, mechanical issues and milling engine problems.
For a SME who is just trying to start something and feed his family, you don't have such financial muscle to stay in biz and compete with these guys.
Most Nigerians entering small and medium scale biz are you average Nigerians with 2 to 5m trying to start something. Not someone with 50 to 100m cash on ground to hit the ground running