Antoeni:
A guy posted on his group chat saying he needs 7k urgently.
People were just observing the post without saying anything.
Then a lady commented and said DM. He DM her and the lady asked for his account details and send him 10k and told him to use the remaining 3k for himself.
The guy thanked her.
One day the guy called the Lady and asked for a date, she agreed and they want out. They started having feelings for each other.
Then the guy surprised her with a brand new iPhone 15 and new Lexus, and he took the Lady to Canada and they got married.
MORAL LESSON: I Need 5k urgently.
Remember the lesson.

Werey

Ebeano49:
World Bank is not our friend. They pioneered the SAP program of IBB which heralded the decline of naira.
They would rather we become import dependent than manufacture anything internally.

I Japa in 1988 due to the World Bank's useless SAP policies that were anti-growth and import-dependent. Nigeria will realise the consequence of allowing Tinubu into ASO Rock

F. E. Ogbimi*

he incorrect perception of a problem can lead to the development of poor theories to solve it. This explains why, a decade after implementing Structural Adjustment Programs (SAP) advanced by the World Bank and the International Monetary Fund (IMF), many African countries have still not made measurable progress.

Africa is much worse off today than it was a decade ago because African economists and the world bodies have a poor perception of the African economic problem and so designed SAP—a program which cannot stimulate growth. Why do Structural Adjustment Programs lack growth elements, and what should be done to stimulate rapid development?
https://web.mit.edu/africantech/www/articles/PlanningAdjust.htm

I don't trust WB on this .

loswhite:
Why do we have to restrict importation when we don't manufacture what is enough locally for a population of 200 million? House of rep members that are using imported cars should just keep quiet.

Excellent submission which i have always said and maintained

Evil bank see advice .

Nigerians will continue getting what they deserve. The World Bank is correct now and has been correct for a looooong time.

Recently, however, there seems to be growing disappointment with both the military Government's approach and pace.

''Since coming to power, this Government has not found a single problem,'' said Dr. Olu Onagoruwa, a prominent lawyer and a longtime opponent of the Shagari administration. ''But it has managed to alienate the judiciary, the press, labor and students - all the groups that supported it just a few months ago.''

NY Times
May 1, 1984
https://www.nytimes.com/1984/05/01/world/nigerian-military-is-seen-as-losing-support.html
Critics of the military Government point out that it has yet to present its budget. Loan negotiations with the International Monetary Fund continue but Western economists say that Nigeria and the I.M.F. appear to be further apart now than during the final days of the Shagari administration.

Early indications that General Buhari would agree to devalue Nigeria's currency, liberalize trade and reduce domestic petroleum subsidies have so far not materialized. Prices Have Climbed

In addition, prices for food and other essential commodities, which fell in the first weeks after the coup largely because of the presence of soldiers in the marketplaces, have now returned to or exceeded their levels before the coup. Unemployment has been rising, and many of the imported raw materials and spare parts needed to keep factories running have been lacking.

World Bank has been begging Nigeria to do this since 1984...including removing fuel subsidies. Nigerians always urge their government to reject the "Bretton Woods" suggestions....even though the little implemented as part of SAP by IBB has had very good results in telecoms, banking, cocoa, broadcasting, cement. Why do Nigerians reject policies that have been PROVEN to work?

Una go hear weeen.

Good Luck to Nigeria.

okay nah

1TrippleCee:



No. It is actually correct

It's not they should tell the FG to remove the export barrier that's the only I believe that will work....


To export from Nigeria is too costly....

andy244:
Tinubu is a failure

Total failure you meant?

inoki247:



It's not they should tell the FG to remove the export barrier that's the only I believe that will work....


To export from Nigeria is too costly....

Nigeria can not produce all its needs. Also, cant even produce them cheaply for the ones it is doing.

jrusky:


Another nonsense chest beaten.

Pls say something else biko....

Self made billionaire in drug trafficking?
Self made billionaire in fake drugs?
Self made billionaire in fake alcohol, wine etc endearing people's life?
Self made billionaire in criminality?

Biko say something else.

Calm Down, everything is not about tribalism

israelmao:
Buhari shut down borders for many months to reduce importation but economy remained the same and was even getting worse.Many were saying it would pay off but it never did.Here comes the lifting of import restrictions some foreign investors who have been operating in Nigeria for year are leaving and thousands of jobs are being lost.

Nigeria does not have an import problem. It has "an increase in foreign exchange" problem.

Nigeria needs policies that would encourage an inflow of dollars, primarily through the export of non-oil exports.

The multinationals aren't leaving because of imports. They are leaving because the economy is in a very bad shape and access to foreign exchange is hard. Forex is the life blood of many manufacturing companies in Nigeria as they need to import some of their raw materials and machines.

Most importantly, they are leaving because they don't think the local market is big enough to worth their efforts.

Na una way

Antoeni:
A guy posted on his group chat saying he needs 7k urgently.
People were just observing the post without saying anything.
Then a lady commented and said DM. He DM her and the lady asked for his account details and send him 10k and told him to use the remaining 3k for himself.
The guy thanked her.
One day the guy called the Lady and asked for a date, she agreed and they want out. They started having feelings for each other.
Then the guy surprised her with a brand new iPhone 15 and new Lexus, and he took the Lady to Canada and they got married.
MORAL LESSON: I Need 5k urgently.
Remember the lesson.

This is somewhat of a gaslighting technique

World Bank don start. Liars. All these American businesses don go bribe dem to make dem come manipulate our politicians to open our border to flood their products into Nigeria. If dem agree pere na d opposite of wetin World Bank talk go happen. Local production go dey affected. Jobs will be lost as a matter of fact instead of being created.

Benin republic imports more than Nigeria infact their economy is based on importation and yet their CFA is doing better than naira

We are suffering a lot in this country

The hyena is sniffing its prey.

No weapon fashioned against me and Nigeria will prosper.

FreeStuffsNG:
Kuku turn us to dumping ground nah. There's no country in the world that doesn't practice protectionalism.

What are you protecting? A free market economy will do you more good.
Industries would spring up

tctrills:

What are you protecting? A free market economy will do you more good.
Industries would spring up

I reckon that you don't have anything you are producing. Smh.

Btw, there is no country in the world practicing full free market

Their policies have never favored us starting from SAP.
How can our economy improve when we allow in all kinds of things thereby killing our industries? There has to be some form of control.

FreeStuffsNG:
I reckon that you don't have anything you are producing. Smh.

Btw, there is no country in the world practicing full free market

Well you are wrong. I am a producer unlike most of you out there and this is not about me but about our country.
You are right, no county has a 100% free market. But the countries with the most restrictive markets are among the poorest countries in the world and the countries with free markets are among the richest countries on earth.
https://www.heritage.org/index/
https://en.m.wikipedia.org/wiki/List_of_sovereign_states_by_economic_freedom

inoki247:
Lol anything World Bank talk just expect the opposite result.....



Fuel subsidy nd Currency unification left the group chat...

Exactly my thought. World bank na scammers dem be. All their economic advice and policies has been to destroy African economy. They see Africa has their raw material producers never wanting the so called G20 to pay actual value for what they are procuring. They tell you allow this and that to be imported but the countries the export is going to wouldn't allow you some important stuff into their country because they see it against their interest.

TrumpDonald2:

Nigeria is a very unique country. We need to look inwards to figure out what will work for us. This is because what works in other countries don't work in Nigeria.

God bless you.

freenature:


Exactly my thought. World bank na scammers dem be. All their economic advice and policies has been to destroy African economy. They see Africa has their raw material producers never wanting the so called G20 to pay actual value for what they are procuring. They tell you allow this and that to be imported but the countries the export is going to wouldn't allow you some important stuff into their country because they see it against their interest.

No just Africa, in Latin America and everywhere else in the world.

inoki247:
Lol anything World Bank talk just expect the opposite result.....



Fuel subsidy nd Currency unification left the group chat...

Was fuel subsidy actually removed ?

If it was removed, do you think the government has been using the money realised from it judiciously ?

ElSudani:


No just Africa, in Latin America and everywhere else in the world.

No be lie,

nlfpmod:


https://nairametrics.com/2023/12/13/removing-import-restrictions-will-lift-about-1-3-million-nigerians-out-of-poverty-world-bank/

World bank will never say:
Plant more rice so that the poor will get jobs and the rice would be affordable

maxiuc:
Benin republic imports more than Nigeria infact their economy is based on importation and yet their CFA is doing better than naira

We are suffering a lot in this country

Especially that rice, one cup is now being sold at #850 in Ifo, Ogun State... And nobody seems to care...

israelmao:
Buhari shut down borders for many months to reduce importation but economy remained the same and was even getting worse,many were saying it would pay off but it never did.Here comes the lifting of import restrictions some foreign investors who have been operating in Nigeria for years are leaving and thousands of jobs are being lost.

That was Buhari biggest error. Apc is a calamity. Nothing to offer except hardship.

World bank and IMF are now running our economy no wonder there is so much confusion everywhere. They have the drug Baron by the balls with his fraudulent past.

Dpharisee:
World Bank and IMF have done enormous damage to Nigeria already.
Igbos do better in economy solely because they believe in Home Grown Economics and not Brettonwood institutions advice, imagine how good they have become to a point that Harvard now have a course called "Igbo Apprenticeship Programme" most self made Yoruba and Igbo billionaires did not get a degree nor study Economics textbooks written by British people, they learnt from their relatives or other kinsmen doing well in business in their local communities.

Meanwhile, you can observe that most Economics Professors in Nigeria are still dependent on salaries and begging FG to pay them for the months that ASUU declared strike action.

Meanwhile, Burkina Faso leader Ibrahim Traore sent people to Rwanda to understudy what they did to become the cleanest country in Africa and having the best policing in Africa while Nigeria Minister of Trade and Industry just announced that she is planning a trip to Switzerland with N1B which shocked Oshiomole into telling her to sit down in her office and work for Nigeria.

My point is that the help we are seeking from World Bank is here with us but we prefer to look at the skin colour of the person passing the message

You're some how right but the reasons for Nigerian officials travelling to Western countries is because of monies they'll get out of the deal. Going to Africa won't permit to steal up to their expectation.