₦airaland Forum

Martartins:
They policy was set to draw foreign direct investment and discourage importation in the long run. The rate at which the naira will fall will make it very hard for importers, but will boost local production in other for us to increase our GDP and start exporting to acquire more forex for the economy. It is a good move in the long run, but on the short run, prepare for hard times Nigerians..

How do you discourage importation when you generate 0MW?
How you do discourage importation when you budget 70% for recurrent expenditure and chop money and then you said that you would cut capital spending by 50%?? So you are spending 15% on capital project

kaboninc:
A simple analysis of the black market rate (which is the rate that you could easily obtain the dollar) to the official rate of the Venezuelan bolivars to the dollars would do.

Does Naija govt use black market rate of N350 or N197 in govt transactions??

stagger:
So what is your point? Their coffers are now empty. Has all the spending stopped the food lines?

Their situation is a lot better than Naija. Their govt subsidizes food, healthcare and social programs. They are mad that diary products are scarce. If I may ask you where can you get fresh milk in Naija?? Their GPD per capita is over $13k while that of Naija is about $3k. My point is that poor folks in Venezuela are like Kings in Naija.
Government revenue in Venezuela is $142bn while in Naija $30bn and their govt has more than 4x to spend on a 30m people vs Naija with $30bn to spend on 170m peeps. BTW, 70% of that goes to Politrickians and overhead cost. Naija poor folks aren't rioting because they have never received freebies or social benefits from govt, so what's the point of rioting and getting shot??

stagger:
To add to this:

The news commentary had it that at yesterday's trading, banks were just BUYING dollars and were not selling. So there was heavy dollar demand and that is why the interbank rate, which opened at N253 or so, started sliding towards N288 to $1. Bidding was going on and you know how bidding or auction processes go: the price keeps going up so that the highest bidder wins.

Had the CBN not intervened to offer dollars for sale at a rate of N280 to $1, believe you me the US Dollar would have been sold to the entity that was willing to pay N382 to $1 and we would have woken up to see rates at close to N400 to $1.

I tell you, we are yet to see the last of this and I am seriously wondering what the appropriate value of the Naira would be. I don't know if CBN will continue such interventions on a daily basis. Other central banks hardly intervene unless they have to. Bank of Japan has performed 3 interventions in the last 8 years or so.

Something will have to give. It is either the country's economic fundamentals are changed so we can become a net exporter (which means the government has to QUICKLY AND MASSIVELY invest in critical infrastructure like power to boost small scale production and manufacturing for export), or we just watch and allow the Naira to fall to the precipice.

We should look to Venezuela for serious soul-searching. That country produces crude oil like we do, wasted their oil money like we have done and had to devalue their currency. Now inflation is so high, that the people are starving and queuing for food. The situation in Venezuela is now so bad that people are breaking into stores, looting food and provisions and anything they can find to survive. The Venezuelan Army is now guarding retail establishments and escorting food trucks to distribution centres and markets. Critical situation in that country which reminds me of the ESSENCO lines we had in Nigeria in 1984/1985. Guess who was president then?

May we never get to that point ever again.

Please stop using Venezuela's situation to justify what's going on in Naija.
Venezuela's budget in 2016 is $247bn while Naija is $30bn
Venezuela GDP is $438bn with a population of 30m..
In the last 10 years, it has budgeted more $100bn annually unlike in Naija. It has spent more on social programs and didn't save for rough days like these.
It's spending more on health, education and social programs this year alone more tha what Naija has spent in the last 10 yrs. Their literacy level is 95.2% while that of Naija is 59. Life expectancy is 74 yrs while Naija 52.
Venezuela generates 5 times more electricity than Naija.


While in Naija, we have Politrickians budgeting 70% of our meager budget for their welfare..

eleko1:
Gbam! Those White Witches should get lost. Dis is probably identity mistake.The concerned Rep has challenge them to show evidence.. I wonder when having sex with a prostitute,LovePeddler,call girls become crime .their money,their life. I dnt blame those white,dey knw hat our own REPs are goats.Abi,wen a 56/70 yrs old granny dey marry 15 yrs old girl nkoh .Evidence pls

Typical Naija mentality of freely giving away ignorance from their resevoir of uninformed and illiterate mind.
Solicitation of prostitue is illegal in the US. Prostitution is illegal

It's good to dream of Biafra, but it's another thing to tell us how this huge ambition is going to be funded. Where are you going to get $500bn to make this Biafra paradise on earth??

And Naija only gets 60% of the profit.. i.e $6 out of $10.

Stevosty:
I expected a constructive counter from the PDP folks and fans, but all I see here are wailings and insults.

But he collected N400m from Yar'dua to execute his campaign

He was given N400m by Yar'dua for his campaign.
http://www.vanguardngr.com/2011/12/confessions-of-oshiomhole-matters-arising/

https://www.nairaland.com/825047/yaradua-financially-supported-guber-campaign

Coming from a man who has been in power for over 8 years.. He told us that Yar'dua helped pay his legal fees!!

What??

[quote author=crazymommy post=46612461][/quote]

greenify:
Nobody is telling you not to where your hijab. But telling us is your right to where it in public school is what we are against. Christians school for that matter. Nobody can try what u are displaying in muslim schools.
There is no amount of explanations that will enter your head because your hear has been blocked by d demons.

Naija youths perish because they lack comprehension skills!!
Go back and re-read my post. Those asking others to be tolerant aren't not going to extend the same tolerance to someone when it's alleged that he/she has run afoul of their religion.

They offer CBN, NNPC, and FIRS jobs to their kids and ask their Zombies to use commonsense and create masquerade jobs.

One of the crappiest banks.. Very rigid with southern laid-back culture. If u want to make a deposit, they alwys ask where the account was opened as if you were there when the account was opened. Also, they never make out-of-state deposit slip available, it must be given to u on request.
It bought Countrywide Financial during recession and hasn't recovered from it. It wrote down $bns in bad mortgage loans made by Countrywide.

It's good to cite American exceptionalism when you are the anticipated beneficiary.. Are those folks who are ready to kill and maim just because it's alleged that blasphemy has been committed again their God going to be tolerant?
It's high time Nigeria did away with any religious favoritism!!

What a diplay of Ebola-warped logic.. But your GMB preferred western-trained doctors and hospitals over Nigeria?
He kids are in western Univetsities? he flies around the world with western-made planes? Driven around in western-made cars??
No wonder Nigeria has been a breeding ground for congenital idiocy since 0000BC

alizma:
PDP will now channel their strength in pursuance of this course and before they know it, here comes 2019.
and to add insult to their injury, Bubu will win again.

Law of power, no 39 and 48 activated by Buhari .

No wonder he didn't know the meaning of "inclusive"

joeprince23:
and this right here is the reason tinubu fought tooth and nail to be the VP of nigeria,just to impose his stooges on most federal institutions.with godfatherism deep in to the fabrics of APC,how can they succed... Without fear or favour i say APC IS SCAM!

Politrickians don't care about their zombie followers, but Zombie followers love them to death.

As the chief security officer of the state, he has the legal authority to constitute a commission of inquiry. These govs are clueless!

Jimi23:
Its a Masters Degree for crying out loud. It takes only one year which means she started about the time her father became VP. Plus he was a commissioner in lagos state for several years. That is a political appointment isnt it? So he has been a politician for a while. They say we should patronise local stuff yet they go international. Our naira has crumbled beyond redemption. Bunch of clueless hypocrites and polithievecians.

It's more than 1 yr unless you're too loaded to take classes in fall, summer and spring semesters. We are overlooking the fact that this is an a Ivy League education which would typically cost $50k-$100k without personal expenses.
So how did he get CBN forex to pay for his child's education? He got it at N199/1$ while GMB told us to forget about it because we can't afford. I had to pay N350/$1 every time to order medication for my aunt while folks like him are telling us that we can't afford it.
These politrickianss have little or no faith in Naija- there is always a back up country for them- they either train their kids abroad or have investment abroad- some acquire dual citizenship. They like Naija because it's the cow that produces milk for them!!

He was a closeted gay himself cos he was a frequent visitor of that bar and had a profile online on a gay site.. What a hypocrite!!
Just like 9/11 hijackers who visited strip clubs b4 carrying their so called Allah-sanctioned attacks.

VomeSchakleton:
Go away!

Aren't you looking for blood?

VomeSchakleton:
Ooh yeah those definitely got what they deserved. They were executed as judgement for their treachery which almost proved fatal for countless Muslims. They deserved what they got!

Just typical Muslim, always justifying blood in order to appease their God.

arewafederation:
'Never expected less from the lost goats of Israel.

You should be mad at those brainless folks who want to Jihad everyone who doesn't the same religion with them!

madridguy:
R.I.P Mateen.

What a f_uck.. Another BH bomber loading!

So long their victim is none of their own then it's OK to kill.. This is their ingrained idealogy.

modath:
The elephant in the room no one is talking about is the ease of acquiring fire arms and ammunition in the US... It's obscene!!!! Gun control people !!!

The dead mass murdering Mofo bought the guns a week or so before this incident..

The NRA & the other right wing gun nuts will play deaf as usual & wait for it blow away...

Nope. He did security job for a security contractor and NYPD. He had top security clearance and he could have found a way to get ammunition. Guns are difficult to obtain in EU, but terrorists still commit mass murder.
Guns are illegal in Naija, Boko Haram is still committing mass murder!

impartiality2al:
You see, filled with so many reasons y you should commit suicide and leave naija to us. God equally regretted it wen he created u. U sound frustrated! Honestly, I am beginning to feel the pain you are going through. That's the more reason we need people with courageous mind like the B-boys to attack more wicked people. God never created us to be evil. We only chooses to be .

He pledged his allegiance to ISIS b4 killing those innocent folks , May you dine and dance with BH in Sambisa forest since it's OK with u to kill human beings even though God doesn't want us to kill.

impartiality2al:
Nonsense! I wish u are among them. Now u would have been smelling ass in hell. Born of parents with acceptable norms and values but u have adopted a foreign and foolish value to ur destruction. I know for sure your parents never taught u to be a gay. You allowed your mind to be depraved by evil ideology. Better change now else u will be the next victim. And if by chance am there, I will shoot u by myself without any assistance. This is Africa. Go and read about our history and learn more about our values. Gush! Disgust me!

You are already living in hell- Naija cos you are more likely to be killed in Boko haram/ sectarian violence than a gay person .
You are already in hell when ur life expectancy is less than 45yrs while a gay person in the US is twice that.
You are already in hell when the most powerful person in the country, GMB, can't be treated in the country for an ENT problem.
What are Naija values? Owing workers for 12months. Stealing public money and depositing it in foreign banks?
Boko Haram killing over 100k and displacing millions?
Politrickians flying overseas to treat common cold while owing doctors and nurses??
Generating 0MW?
Naija is a religious country, but peopled by ungodly citizens.
When God regretted " If I had known I would not have created man" he meant Nigeria.

impartiality2al:
What a cleansing! Highly supported. They rather be destroyed than allowing them destroy my generation unborn with their wicked ways. Thank you the young man that did this. God reward ur courage. Even Phinehas in d Bible did it. Stupid, wayward, Barbaric, dirty, Useful but more useless, Callous, Evil Americans. To hell with your gay policy and ideology! Nonsense!

Now go back to your jungle- Naija without power
Eat your rice without tomato
Die in your house because there are no hospitals and drugs
Get killed by Boko Haram because your are an infidel.
Get lynched and beheaded by religious thugs because of your blasphemy
Have you found cheap petrol lately??
All these problems brought u by heterosexuals not gays .
Enjoy your vacay in hell called Naija.

Keep glorifying in Islamic terrorist killing 50 people.. They were human beings before any label.
To some Nigerians who are cheering, it's the same idealogy that BH employs to kill innocent people . Same ideology used by religious thugs in beheading and amputation.
You can hate all you want, but know what, your life is still in darkness due to PHCN incompetence not because of gays
If you are in Naija, you are more likely to be killed by these same terrorists who go about killing innocent people