₦airaland Forum

Same here. Poor design.

You're living above your means. Adjust, cut down your expenses, and review your lifestyle.

UyaiIncomparabl:
I will take your dream seriously when it gets to N700-$1. Until then, rest.

I told you I saw N1,400 in my dream na. I can't guarantee this N700/$1 for now.


Celebrate grace and the prophetic, my dear.

UyaiIncomparabl


Remember my dream?

Mom007:
Discard ke? For what? Because it doesn't taste fresh? Would you?
Op you must have used ugu leaves. It makes food spoil easily. Add some washed bitter leaves to it instead and a little pepper and red oil. Boil real good and pls freeze immediately this time.l

I don't think it's a matter of using ugu leaves or not. He didn't fry the egusi, then he left it (probably fully covered) for over 13-14 hours. Dairy products also react badly to heat. Nothing else would have saved that soup from foaming, becoming sour, and tasteless.

Paraman:
Anybody that bought it above 1400 and is now selling below 1400 is selling at a loss

A loss because they probably want to cash out in 1 week.

Give it time. Allow Nigerians activate their japa plans again. After about 8-10 months of steady decline or stability, we then can say that Naira has truly gained.

Dialpad:
Not possible, these BDC cannot meet the demand of Nigeria based on the $20k weekly by CBN.

So if I want to travel and I need $15000, where will I get the cash ?

Will aboki sell the entire amount at government approved rate or how will it work.

The people I pity most are those that hurriedly purchased between 1400 and 1800 with the hope that it will hit 2500.

They didn't consider that the government will fight back.

You're not sure how it will work but you want to pity those who hurriedly bought at 1400-1800? 🤣🤣

Discard it. It's gone forever. Before you follow the tips above, ensure you keep some money for some flagyl tablets. You'll need it. Thank God you work from home -easy access to the toilet.

DenreleDave:
Decency báwo...

I bought in plate first na, then nylon...

I can't be washing two plates for one beans ńa

Acidosis baba twale

🤣🤣 Whatever works for you my guy. But try carry extra plate next time o.

bukatyne:
💯

Sis, where you hiding these days?

Ahahahah

Saintinoo:
I gave you a good analysis of how an economy work, but as usual, you are beating round the bush with data probably from worldbank.

I will continue stating more facts just as I have done in the last post. Go back and check the contribution to GDP in the last two years, only trading came second to manufacturing sector in GDP contribution.

You have refused to answer any of my questions, but rather you continue beating around the bush. Tell me the co operatives that can give loan to the MSMEs you are talking about, what do you think grows a nation economy? How many businesses in MSMEs produces most of the FMCG in Nigeria, you think it the local bread producers that grow the economy?

For your information, most businesses in SMEs depend on big manufacturers for raw materials for their products.

I know people who no nothing about the economy when I see one, always bringing forth data they saw online without a critical analysis if these data can be compared to developing economies like ours.

There is really no need arguing about the economy with you, because I so much believe that you know nothing about economics aside going online to download data as a point of argument.

For your information, I carried out my thesis all by my self, with the help of a professor, and can defend that anywhere in the world.

One last thing, I will tell you this as a trained economist, you do not compare different economies in order to getvyour economy working, so keep comparing Nigeria to UK shows that you know nothing about what you are saying.

Go to your state, probably ask the businesses over there to shun banks and collect loans from co operatives. Akara selling economist.

I no get strength again. Oya, go and argue with National Bureau of Statistics (NBS) and SMEDAN:

NBS

“In Nigeria, SMEs contribute 48 percent of national GDP, account for 96 percent of businesses and 84 percent of employment."

https://www.thisdaylive.com/index.php/2022/11/27/msmes-contribute-48-of-nigerias-gdp-says-ilo

SMEDAN/NITDA

In 2022, MSMEs contributed 48 percent to Nigeria's gross domestic product (GDP), accounted for 96 percent of businesses

https://nitda.gov.ng/msmes-will-contribute-53b-to-nigerias-economy-if-digitised-dg-nitda/6271/

Is this some kind of joke or what? You buy beans in nylon? Cultivate some decency, man. Don't you have any takeaway plates?

Tilumbu & Sons.... Ahahaha

Saintinoo:
You didn't answer my question, how much did Dangote collect from co operative to build his refinery. How many graduates is your zobo company employing annually and how much are they paid.

Don't Don't come here and paste data doe me, I have been dealing with data on GDP from my diploma days to the university. Hope it is the poor Nigerians who cannot afford 50 naira pure water that will save money in the so called co operatives.

Do you even know that more than 65 % of Nigerians spend their income on food alone? Start from taking data of your area first and generalize it to the whole country, before you bring out some fake data you probably don't know anything about. Try know the person you are sharing them with.

What do you think SMEs are, some akara women business? Those small factory in your locality that worth more than 50 million are also categorized as SMEs, name a co operative that can give them 50 million loan.

Do you even know that most of these co operatives are not being checked by CBN and thereby charge huge amount of interest as against the reason they were established?

What do you think GDP is, increase in GDP of a NY economies is being attributed to production by big manufactures, you don't even know that these big manufacturers produce raw materials for most small businesses, check the sectoral GDP contribution in Nigeria for the past 2 years.

You think economics is by shouting data which you do not understand?

Who do you think make up the economy of Lagos, akara sellers? Remove producers from the economy and juicy agency like custom, FIRS, Shippers council and our seaport which being revenue to the economy aside crude oil will be an August meeting centre.

I sincerely hope that you're not a graduate. That's the only way I can rationalize and justify this post.

"You have been dealing with data on GDP since your diploma days" but you don't know the contributions of each sector to your GDP? You don't know the difference between SMEs and MSMEs? You don't know the contribution of MSMEs to the employment rate? But you'll rather scream Dangote, bla bla? How many people in our generation work with Dangote? Even his (Dangote) employees rely on cooperative loans for survival. How often does Dangote consult your bank for a loan??

To discard your thoughts here, I had to check Dangote Cement's debt-to-equity ratio (I hope you know what this means?). Anyway, a debt-to-equity ratio of 23 per cent means that Dangote relies more on equity financing (77%) than loans (23%) for his business. Do you now see the relevance of data "abi you still won't chop statistics"?

No worries sha, whenever I have to discuss "copy and paste" final year project works like you did in your diploma days, I'll tag you.

My line of thought differs from whatever you have posted here. I apologize for the initial mention. It's such a waste of time and intellectual property.

But I'll try to help you for the last time.

Nigeria has 21 commercial banks
The UK has 375 commercial banks

Nigeria has 916 microfinance banks
The UK has 60 CDFI (aka microfinance banks)

Nigeria has 300,000 cooperative societies
The UK has 7,000 cooperative societies.


Now if you were a 4-year-old toddler, would you apply the same policy measures taken in the UK in Nigeria just because these policies worked in the UK? Answer like a 4-year-old. That's enough.

jedisco:
The issue is that we know or copy what works or others did but we don't know the how or why it worked for them. Of course without the luck of sharing same peculiarities, those copied policies quickly fail.

In life, he who knows why will always lead

True that. Knowing the why and how is key 👍

Saintinoo:
How many cooperatives does Dangote and BUA belong to, or why didn't Dangote approach one co operative to collect loan for his refinery.

When economic decisions are made, we criticize without being bias. How many Nigerians are in the so called co operative, and how much loan can they give out?

You think we are talking about loan to start a zobo production unit or sell akara here?

That zobo production business and the likes (i.e.,MSMEs) contribute over 48% of your country's GDP, and over 90% of the total employment in Nigeria. The highest in the universe or let me say the planet earth. Meaning that, if these MSMEs shut down today, you and everyone in your state will most likely be jobless forever.

I understand that many of you don't like data, but I'll try to answer your questions again.

30 million Nigerians belong to at least one cooperative society.

Cooperative societies in Nigeria are over 300,000 as opposed to just 7k in the UK. Your parents most likely used loans gotten from one cooperative society to build their first home, get their first car. They probably got cooperative loan at some point to pay your school fees, but no, you want to build your economy around bank datasets because you're in the UK, where people build/buy homes via mortgage?

Cooperatives in Nigeria contribute 1.2 trillion yearly to your GDP.

But you want to work with something you read from a book written by a UK based professor? Probably someone that has never withdrawn money from a POS vendor? Ahaha 😄

When your leaders are ready, they'll consult the right people.

Make I rest.

Saintinoo:
Increasing the MPR mean that banks will charge higher interest on borrowing, this will discourage investors from approaching the banks for loan. I hate to criticize this people but I just hope this policy don't destroy what is left of the economy.

There are over 300,000 cooperative societies in Nigeria (around the largest in the world). The UK has only 7,000.

These institutions have more than 30 million members in Nigeria.

SMEs contribute 48% to Nigeria's GDP.

Over 70% of business owners in Nigeria would rather depend on loans from cooperative societies than bank loan. These are the people controlling credits in Nigeria.

The above are fundamental datasets that are peculiar to the Nigerian economy. We need people to hack our peculiarities. Enough of using economic jargons from the West. Our lives and economic decisions shouldn't be solely based around the banking sector.

Theoretically, higher interest rates typically lead to lower inflation rates. This is what lecturers teach. However, this relationship is not straightforward, especially in a developing country like Nigeria.

This is not the first time the CBN is hiking interest rates. Since May 2022, the CBN has continued to increase interest rate and not even once, has the inflation rate responded correctly. Facts don't lie.

The idea of adopting all sorts of economic jargons from the West has done more damage here. We need to find what works for us. Abroad, the entire economy operates on credit. People buy the most basic things like phone with bank credit.

Over here, how many Nigerians rely on bank loan? How many? They have mortgage, here we have ajo or buying Naira with Naira (POS) and all sorts of ideas that are unconventional to classical economists.

We need to find what works for us. At best, hiking interest rates might make a few conservative investors romance a few Naira investments like FG bonds or TBills for a while...but no aggressive investor will come close to the Naira just yet.

eteebanky1:
This'll add no value to your body

None nutritious

It's shocking how Nigerians from different generations have continued to spread this unadulterated lie about ponmo.

descartes400:
I never claim to have those supposedly attributes of the said suppose being in question who has regaled we mere humans with his encompassing benevolence and at the same time his wrought-full destructiveness,our ears are regaled every Sundays and at every moment notice.

Since you don't have such powers to control even your own thoughts or existence, is it not better to just dwell in your ignorance than make assumptions about issues that are obviously beyond your comprehension?

descartes400:
oh yeah!

but who is that BEING that's very tactless, insensitive, anti-human and watch in needless fun to have allowed the Helicopter accident to have happened and is still currently WATCHING the GENOCIDE of HUMANS in Gaza

Oh yeah! you know WHO!

Since you appear to know better than the being, you should have done something about these problems, don't you think? You don't even have power over your own thoughts.

Scrapping of 3 agencies out of the 54 recommended agencies by the Oransaye report is why you're celebrating??


Politicians really have una muu mu button

That woman's birthday will cause more damage than anticipated. A very very tactless, insensitive, anti Christ, and needless fun fair.

brain54:
After the tenure of pastor adeboye...

I wonder what will become of the RCCG!

The fact that Baba has decided to stay active in the affairs of the church at the age of 80 will even make things more complicated.

You are selling a bag of rice for N10,000 to a angry and hungry population, and you didn't anticipate that the entire population of Lagos might show up?

This is exactly how the Nigerian Immigration Service killed 16 Nigerian youths during the sham and poorly coordinated recruitment process in 2014.

You will hardly read about events like this from the private sector. So you guys are definitely tactless. There are better ways to distribute rice. You can't throw open the sales process when, for example, all you have is a 5sqm cramped space and 1,000 bags of rice. Why did you invite the entire population of Lagos state when all you had was less than 5,000 bags of rice?

I expect the Senate to invite the Customs boss and everyone involved in this "manslaughter." We can't continue to run a country with blockheaded ideas. How did you not anticipate a stampede?

France don wake up? LOL


Anyway, next stop for the imam is Nigeria.

Kobojunkie:
OP, Humans are not robots to be configured according to your whim. You can tell another human being what you desire and want but there is no marriage contract out there to obligate that person to doing all you demand if that person is not himself/herself configured to those same specifications/settings that you were looking for.

You did not marry wrong! Rather, you went in with the wrong ideas, I am afraid. What you described earlier sounded more like you were attempting to program her according to your needs without considering her personality and needs as well. If what you wanted was someone to dote on you and play mother figure to you, you should have paid a woman to be that to you. Money talks and these days, I am sure you will be able to find someone to pay to be just that for you. Your wife, however, is not a robot and she too has her desires and needs which she could equally impose on you. So, if you both want to benefit from each other, then I suggest you start by going back to the table and drawing out a contract that will equally benefit both parties here.

P.S. Those of them here advising you to do to her what you seem to think she has been doing to you are only preparing you for a future filled with marital hurt and loneliness.

Please ignore this post for your own good.

This is impressive and encouraging.

You never spoke to them again, but you have been tweeting about them non-stop. Seems like you're trying too hard to disprove the law, I guess.

They are still renting hungry Bishops and Imams

There shall be no peace for the wicked.