₦airaland Forum

HungerBAD:
I don't believe MTN.

Dino is a loud mouth from Kogi who I dislike a lot,but on this I am in total agreement with him.

And if MTN wants to leave Nigeria,they should not forget to take their useless Sims with them.

Nigeria as a Country is even doing them a favor,by letting them still do business here.

MTN will never make the kind of money they make here anywhere in the world.

If Dino Maleye have any proof,this will be a good time to make it public.

The issue right now is bigger than MTN, it concerns all foreign companies currently operating in Nigeria and those that have plans of opening offices.
Are there laws in Nigeria that prevent repatriation of funds?

bigtiny10:
No vex abeg. But I just had to say something about your last sentence. From your arguments and some comments on this post, i think a lot of you think I'm worried about "Zara's use of English". I find this very absurd as i don't see how this is pertinent to my life as a Nigerian citizen. If you read and analyse my comments carefully- like seriously no offense meant, my anger is channelled towards nepotism and sentimentalism. I could care less about Zara's English, believe me I've seen worse graduates. What pains me is the fact that people like Zara will get to be leaders in this country, believe me, they will.

This would be my last post on this as you are entitled to your opinion.

The title says of the post is "Did Zahra go to school"? How does that relate to nepotism? You can talk about nepotism with mentioning Zahra...

Danzakidakura:
Buhari will destroy telecoms service providers in Nigeria

How did Buhari enter this matter?

And the alignment/ realignment continues.

Goke7:
Imagine Ekweremadu going against Saraki? Honestly the anti- tinubu folks messed up, this was how folks brought cracks between obj and GEJ which led to the downfall of the almighty PDP. Same route APC is going unless they fix up their mess fast

At this point in time, you can be rest assured that Saraki is not against Tinubu.

bigtiny10:
Nigerians and impudence are like 5 and 6. First of all, I'm quite content with my education and I very much appreciate my life. I don't understand why you're being so concerned and insultive but that's your problem.
1. Buhari's children had already begun schooling in the UK years before he even became president-elect. Was he selling his cows to fund their education? Maybe his assets accrued after he became the president, maybe not. Common sense should have told you this.
2. I didn't say he paid their 3-year tuition outright. I only calculated how much their tuition alone must have cost.
Maybe you need to calm yourself, read to understand and think before you speak or type bacuse your comment shows you don't.
Thanks.

1) Ex presidents collect pension , if you don't know that then your ignorance can't be cured.
2) You made this statement in your first post "Does this mean he spent all his money on the education of his children" after calculating his children school fees, that implies that you thought that since he had 30M in his assets declaration, were was he going to get the balance.

You can't wriggle your away out of this.

You don't know how i am concerned yet you are worrying about the English of someone else?

bigtiny10:
Buhari claimed he had just 30m naira when he declared his assets. Tuition alone for Zara in the University Of Surrey costs £14,000 as an overseas student. In Nigerian naira, that amounts to 5,726,000 per year. For the duo of Zara and Yusuf that makes a total of 11,452,000. Given that it's a 3-year course, that puts the total of tuition at 34,356,000 which excludes their accommodation, ticket fees and allowances. He just might have been stashing his children away in some mansion like the President of Cameroon. Does this mean he spent all his money on the education of his children. And let us not forget Zara and Yusuf are not his only children. His wife was spotted wearing a watch worth 10.4 million naira just days ago. Please, who's fooling who?

Cc: lalasticlala

You should be less bothered about Zahra's education and worry more about your own education because it looks like you have been shortchanged.
1) Buhari having 30M at the time he declared means that is all he has at the time of declaration, it could have increased to 40M an hour after declaration and it could have reduced to 10M. Common sense should tell you that.
2) I doubt there's anyone who pays University fees 3 years ahead so why will you calculate Zahra and her brother's total fees and make judgement based on asset declaration that has no impact on the future earnings on her father or who ever sponsored her education?


Zara might not understand the English language but your write up shows you have no idea of logic which is frankly worse for a supposed graduate.

Thanks

The government should sell of its shares in the JV or reduce it to 10%.

koboko69:
Chia...u are the illiterate here. Don't dabble into things u have no idea about. Ask questions

Yeah foreign companies come here to sell Akara.

Dino and our senators are ignorant illiterates.

Any foreign company doing business in Nigeria will definitely repatriate funds, it's not illegal.


The reason why some airlines left was because they could not repatriate their funds.

The guns are drawn and I ain't taking about a sketch.




The 2019 inter house sport preliminary stage has begun.
Alliances are being formed in the back ground.

The president's team have shown their hands with Oyegun.
Tinubu has dropped a card.
Now this open letter.


Those working in the background
1) Saraki ( I believe he will align with Tinubu)
2) Atikison
3) The PDP factions.

specco:
You are just eulogising the man out of sentiments. How did he fair as a two time governor of Lagos state? What did he do to elevate
Lagos infrastructure wise?
Fashola did whatever from his own ideas and initiative. Remember BAT wanted to slow Fashola down and they fought over developmental funds. You have forgoten.

Questions about what Tinubu did in Lagos means you have no idea about Lagos.

Tinubu ran Lagos for 3 years without funds from FG and did not owe salaries.
Everything Lagos is today, the foundation was laid by Tinubu.

sanky346:
Tinubu count his cost now and restrategize. He should rally round the credibility of Ambode who is doing pretty good to relaunch himself. The performance of Fashola as Lagos State governor in his first term in office helped ACN to claim most of the governorship seat in the South West. With Ambode, Aregbeshola and Osibanjo, Tinubu can start building a new political bloc that will wrestle power from the Northern ologarchy. If he can put his structure behind Olusola Oke in Ondo State and ensures Oke wins, it will send out a strong message and be the beginning of a new political journey for Jagaban. The truth is among the ordinary citizenry of the South West, Tinubu still enjoys immense followership across political divide.

Tinubu didn't get to were he is by being an Idiot. The call to Oyegun to resign is more like a warning shot and Oyegun is the fall guy. There are lots of people interested in 2019 and Tinubu is a beautiful bride with close to 2M votes and lots of money.

Too many illiterates on this thread.

TonyeBarcanista:
My friend, 1/100 Wale Edun is greater than 1million Kemi in any situation. Under Kemi the GDP went down, job losses in millions, capital flight, businesses folded in hundreds etc.

You made mention of budget, what us the budget performance? not up to 5% - 10% and the year is almost rounding up. She kept saying money will be pumped in for months but we haven't seen any. She is incompetent for the role.

We are in a recession, GDP WILL go down.
Can you show data to prove your budget performance of 5%

You should check Kemi's performance in Ogun state. Just so you know, she was MD of an investment bank for 7 years.

lilreese:
Indeed she is doing a good job, Nigeria GDP is now negative. She hasn't implement any fiscal policy, all she know is how to say" FG to Release Billions". You're just one of those APC Zombies

Do you know what fiscal policy is?

blackpanda:
The funny thing is that some morons will believe this heap of trash!

The sad part is someone struggled to send them to school

What's the cost of the software?
The cost of the cloud servers used to store your details?

Firefire:
ok let the one-sided fight against kworuption continue.

Dambazul

Burantai

And others, please continue to enjoy your loots.

There's nothing like a "one side fight against corruption".

You cannot catch all thieves in one day so when someone is caught, he should answer for his crime.

Others time will come.

helovesme:
Nigeria banking sector will continue to struggle until they learn to do banking the right way and shift their focus from retail banking.

There's more to banking than just chasing individuals for deposits up and down or chasing businesses for salary accounts.

Now that TSA has been implemented (which was a shock to the sector), things should stabilise with banks looking at other ways they can make profit such as granting loans to genuine entrepreneurs and financing projects in sectors such as agriculture and manufacturing. This is why CBN needs to reduce interest rates (and ensure the rate cut is passed on by the banks) as this will reduce the loan burden on companies and encourage genuine businesses to seek funding from banks.

Regarding the forex storm - this too shall pass. The banks were also part of the problem as they've benefitted from the parallel rates system.

We don't have banks in Nigeria, they are trading houses. That's why the banks grew big but the real sector did not.

We as a country have a fundamentally bad economy and if we don't use this trying times to correct the structural defect, then we will never get it right.

giantstrides:
The call for true federalism is growing, but the federal government find it so hard to restructure the country, what are they so afraid of ?

Only the senate can amend the constitution to support true federalism.
Call you Senator.

EternalTruths:
Do you know how many companies left US for China.?

Do you know that fewer and fewer Americans are technologically empowered.?


Why do you think Americans complain of job security.?




Technological empowerment remains the key to addressing economic crisis.

You keep beating around the bush without making sense. China improved because it closed it borders to imports.
A Chinese man gets a loan at less than 5% to produce his goods and you want a Nigerian to compete with an interest rate greater than 20%? How is that possible?.
You basic economic knowledge is lacking.

idupaul:
.Buhari could have gone about it in a smarter way..imagine a fine of 5 billion dollars ,it's never been heard of in human history

BP was fined $18.7 Billion
Volkswagen fined $14.7 Billion.
BOA $16.7 Billion
JP Morgan chase $13 Billion
Tobacco industry $206 Billion



We still far off from the record.

adegeye38:
The question u should ask urself is hw much is arsenal worth?, arsenal is worth 1.1 billion pounds
So he doesnot have to spend up to a billion to be a majority shareholder

The two guys who own 95% percent of Arsenal are billionaires, the remaining 5% are in the hands of die hard arsenal fans who have refused to sell... At this stage, it's not easy to get a single share of Arsenal talk less of a majority share.

AnonyNymous:
I don't think you fully grasp the impact those billions would do in his Forbes ranking of richest men. There's a limit to prestige. When C Ronaldo left Man Utd, don't you think they'd have kept him if they could've? The money they made form selling him covers more than the bottom 5 clubs made in a whole season.

Kronke is a billionaire, his wife is also a billionaire and heiress to the Walmart empire. They didn't become billionaires by looking at Forbes ranking.
At this stage, it's more of an"ego" thing.

It will be easier for a camel to pass through the eye of the needle than for a Nigerian President to be impeached.


OP after signing the petition what next?

Cheaper data is putting pressure on DSTV

EternalTruths:
Answer to question 1

There are 6 major things that affect cost of production and in turn increases or decreases production

A) Taxation
B) Forex
C) Interest Rate
D) Salaries
E) Electricity
F) Fuel

If you reduce interest rate without reducing others, it becomes null and void with time.

So the best thing to do is to cut down cost on Taxation, Electricity and Fuel.

Electricity and Fuel costs can be reduced by continuing the amnesty program and avoid issues that makes that region volatile eg 97% 5% comment, attack against Jonathan Tompolo Patience etc.

When these things are done, the cost of doing business will decline.

Now 14% interest rate according to CBN attracted $1bn in the month of june. Meaning that our ability to meet our Forex demand increased by $1bn from FDI.

So tell Buhari to stop giving Hausa Fulani politicians scarce dollars to finance foreign trips eg A particular Hausa Fulani governor financed Aisha's trip overseas just because he has interest in Zahra. For Christ sake were did he get $1m from and why spend it on foreign trip that gave us no return in dollar inflow.


So when all these are implemented, Interest Rate should then be lowered after considering if it will impact positively at that time.


Answer to Question 2

Who ever tells you that we don't have money is lying especially when you consider how Buhari and his friends have being spending dollar on non essential things.

How can the government get money to finance itself

1) Make peace with the ND people in order to achieve full oil production

2) With peace returned and dollar inflow increased, use that extra money to finance our non-oil sector starting with 4 major things and these are:
A) Agriculture
B) Processing of Solid Minerals from Medium Scale to Large Scale eg Nickel Bauxite Iron(Ajaokuta should start from Medium Scale)
C) Commercialization of any Technology developed in our higher institutions in order to minimize foreign import
D) Creating a National Educational platform like Nairaland whereby the Technologies developed in our higher institutions are taught to local businesses in all states eg Aba Onitsha Nnewi online and offline. This will help spread technological knowledge necessary to help us produce advanced indigenous technologies that can replace foreign ones.

When these things are done, the multiplier effect will lead to more revenue for government in 2 - 5 years time.

By then, you don't need to tell CBN to reduce interest rate. The Banks will ginger them

You clearly have no idea what you are talking about.
1) IF you want to start a business, access to funds is your first problem not taxation. Economics 001
2) There's no way the government can reduce the price of electricity. The people who supply electricity are saying they are making a loss, yet you want to impound their problems?
3) You keep on saying the government has money when common sense dictates that if Oil which is selling at less than half the price from 2 years ago with a reduction of about 25% production there would be a shortfall in revenue.
4) Companies that make a loss don't pay tax so how do you reduce taxes when companies bleeding money left and right? Part of that bleed is from the high cost of borrowing.
5) You keep on saying diversify the economy but you've not said how you are going to get the money to do that.
6) How do you solve unemployment when the interest rate is so high, companies cannot borrow to expand?

Can't you see the irony in your post?

Investment in non oil sector by the Government to boost local availability of raw materials and reduce dependence on foreign raw materials which tend to increase the cost of doing business and put lots of pressure on our foreign exchange.

Were will this money come from if not by borrowing which is expensive right now or by raising taxes which is counter productive?

YOUWIN financial support should be increased from 10million to 30million naira minimum due to the present value of money.

Same as above.

Cost of doing business must be reduced by reducing taxation, electricity and fuel costs

1) Reduce taxation and government can't get the money it needs for salary talk less of infrastructure.
2) Electric companies are businesses too and right now, it's not a profitable business. The companies also need cheap loans to be able to expand.
3) Do you want subsidy brought back?

In summary, you want government to spend money it doesn't have by reducing taxes, which it would further reduce government revenue, then it should cover that short fall by borrowing expensively thereby plunging us into further debts with astronomic interest rate which would have to be paid from the reduced revenue, then we would have to borrow more....... Rinse repeat

Once your economy is based on commodities, you are screwed.

14) The senate should be scrapped. They are a bunch of jokers.

jpphilips:
Your points sound valid but I have a funny feeling you enthrone the Bank's interest above the interest of the average Nigerian, your position is in tandem with the CBN, which tells me that it is one of those moves the CBN employ to save their interests with the banks.
Did you forget that "Low forex inflow" like you hammered triggered another monster called "low revenue" for the government which necessitated tax increase?
If you lower tax, how do you compensate for the revenue loss for the Government? you can not be asking the Government to meet up with its wage obligations and proposing tax cut, it's a total conflict of interest. Government wages alone is a value chain stimulus.

I support a lowered interest rate, the CBN's arguement on "forex pressure" is too weak to be taken seriously. How is the CBN meeting its forex obligations to manufacturers to be jittery of further pressure? he that is down fears no fall.
If Emiefele is scared people will take loans and import stuffs (forex pressure), has he considered that lower interest rate will not only spur importation, it stimulates SME's who are contractors to the manufacturers thereby keeping the manufacturers afloat, considering the amount of goods we lost to importation bottlenecks (actual cause of inflation), it behooves common sense to prioritize our manufacturers because they are the last source of goods we have now.
If the bottle contractor to NBL does not supply, how is NBL supposed to produce beer? even if CBN doles out $$ to NBL. However valid your points are, it still appeals to me very selfish and insensitive, We stand to gain more from lowered interest rate than otherwise.

The angle where the CBN said its current policy has attracted $1b so far, does it occur to you that these type of "foreign investors" do not invest in the real sector of the economy, they add absolutely nothing to our socio economic value chain, yet we prioritize their blood money over the well being of hard working Nigerians?

They are international blood suckers who feed on the carcass of dying economies, look at what they did to Greece, so long as the interest rate is high enough to accommodate their risks, they are more than willing to invest, in the short run, we may have the liquidity, but at maturity, you will regret taking their money, they hardly create jobs nor have physical taxable structures nor corporate social responsibility, they are what I call them, "BLOOD SUCKERS".

Be reasonable bro!!

One bottle for you.