₦airaland Forum

Igbos sell fake drugs and kill our people in PH, why don't we send all igbos out of PH. All you xenophobes in disguise need to get a life. The terrible thing is that most of you are writing your rubbish outside your native homes. What the lazy STF seek is an easy route out of the issue that won't stand the test of time. Get to work you useless soldiers, protect the citizens and stop being c*nts. That is what they are paid to do and not to drive our citizens out of where they live and have settled for centuries.

Beaf: Stop asking daft questions, bro.
Who killed the General under the bridge on Lagos-Ibadan Expressway last week? Who has been fighting and rioting in the Mile 2 to Mazamaza area in Lagos?

Better to curtail the madness in Plateau now, otherwise Lagos too will be toast.

Mr bigot you are at it again. Supporting and promoting xenophobia. You see how much of a wicked soul you are. Chase citizens of Nigeria out of where they have settled instead of protecting them like every other citizen. You will end in a shameful way I can assure you.

Elueme: Whichplanet are you from? You should learn to stay focus on issues, don't make mockeryofiportant threads by your cassava bread theory.. Obviously u re notamenabletopositive change.. Smh

So in your mumu mind cassava bread is what would bring change in your hopeless life. Shake your head at yourself.

My brothers and sisters in Edo, I say be on guard, any "Monkey and Baboon" caught stealing votes should be given the beating of his life. Also remember not to sell your votes. If them buy una vote finish, when dem reach there they steal $20billion and leave you with cassava bread. Osho baba all the way. Say No to Cassava bread

I see one Wizard has been tormenting the 40 laptop squad. Thank you very much Mr Wizard for telling those low lives the truth.

You have Sokoto, you have Abu Qaqa or Dada (which ever one they have), you have been able to capture some of the top commanders of Boko Haram, have they not led you to the main sponsors of the group?

Secondly, you have Sambo a northerner as ur Deputy, Bamanga Tukur a political heavy weight in the north is the PDP Chairman, David Mark the Senate President, can these people not move the north to peace? What the hell is their job? Why play politics with the lives of our citizens?

BTW have you said NO to cassava bread today? Remember, Cassava bread 'choppers' are most likely to chopulate $20 billion therefore say NO to cassava bread.

Creatrixity: Lots of religious bigots and fanatics on Nl.What is this bloody aboki doing here

So with this post, you are not a bigot. What a fool.

Extreme poverty has driven my people insane. The quest to survive by any means.

Even with the fall in oil prices, if the politicians were disciplined, the effect on the naira would be minimal. What do we have? We have politicians spending recklessly thus creating inflationary pressure on the naira.

When Ngozi went seeking external loans, it became obvious they were fast loosing reserves.

That area had always been dangerous, from Ogere to the old toll gate. It has never been about herdsmen. We have to be very careful before attributing a crime to a group of people. Maybe we should also attribute the robbery on Owerri PH road to fulani herdsmen.

ypzilanti: Semantics.

There are direct quotes from verifiable people like Mr Adeniran in the article. If you are not aware of how journalism works, when they want to lie, they tell stories and attribute them to sources close to the presidency or sources close to wherever...

A direct quote from a living person to buttress a fake story is an invitation to get sued for millions of naira.

You guys are going around in circles. Both the aggressive beaf that is just abusing and cursing like a drunken sailor and the more subtle 'let's wait and verify' apologists.

Abeg leave that one, he is suffering from acute 'Daniel Kanuism'. Then it was Youths Earnestly Ask for Abacha, YEAA, today it is Youths Earnestly Ask for a Retardeen, YEAR. Na the same hungry political movement.

Vogue50: We should not allow sentiments to prevail while making hasty conclusions without proof. It's obvious that Sahara reporters and premium - times isnt an authority for us to anchor our precision on ! Institution like the CAC has the right and sole privilege to disclose such vital - whether AIG imokhuede owns the said company or not - information. People go through stringent procedure to conduct search @ CAC inorder to justify its validity . Only bigots and retarded minds will condemn lawan's bribery scandal and still insist on the implementation such report !

Laptop 29 hehehehehe Animals!!!

Dpeacemaker101: you jus been childish and ignorant, you don't even know who and what to course. I guess the curses are already affecting you even before you pronounced them, no wonder you sound the way you do. May God open your eyes to the truth.

Are you a PDP agent? Are you a PDP agent? Are you a PDP agent?

If you are then may Egbesu destroy you. hehehehe Animal

BTW if you are a PDP man and you are on this forum, may Egbesu condemn you to death. May Amadioha strike you into two. May you never know peace in your life. Animals!!!

[quote author=na_joke]Yes o

Ask Beaf for more info[/quote]It is also important to make it known to you all that apart from the 40 laptop squad, there exists another group of thugs recruited from Onitsha by the Chief Thug, Obinna Metuh. These 'mpiawa azu' men have been recruited to attack especially those who criticise their "leader", Jona.

So I urge you Comrades to be on guard. Remember we saw them "earnestly ask for Abacha" to kill Saro Wiwa ala Daniel Kanu, today they 'earnestly ask for Jona' to leave us in total insecurity and abject poverty. They are the same people with different names.

BTW you wey go call Oga IG when e dey on top madam, just pack your load dey go Seme when you drop that call.

You no go say I know warn you.

This one wey una dey talk na long grammar, dey show data wey una no even know the meaning.

The day wey una FOREX reserve go finish, that day una go know say Amadioha & Egbesu combine done dey punish all of una.

I rest my case, work dey tomorrow.

Katsumoto: So basically, all countries only earn forex from trade; if we follow that line of reasoning what happens to countries that have negative trade deficits? If a country is importing more than it is exporting, where is it getting its forex from if forex is only gotten from trade? Which then leads to the next issue you raised, depletion of reserves and then inflation, dollarization etc.

Since we know that a majority of nations run deficit trade balances, shouldn't a majority of nations have some form of economic crisis if we follow your argument?

With regards to Argentina, its problems were caused by pegging, high levels of debts and reduced income from exports as a result of the overvalued Peso. Governments don't borrow to shore up reserves; in fact, no one will lend you money to shore up your reserves.

See below

'The Argentine economic crisis during the early 2000’s was the result of a decision, by one of their presidents named Carlos Menem (1991), to peg the Argentine Peso to the U.S. Dollar. The reason for this was to produce financial stability for his country by placing a one-to- one parity between the two currencies. Another factor that contributed to this turmoil was the fact that the government controlled the flow of currency based on inflow of U.S. Dollars that came from investments and so the Argentine economy accelerated at a much faster pace than anticipated. The unregulated currency became overvalued thus putting their country at a disadvantage by making their exports more expensive and forcing them to import more goods. The situation only worsened when the local governments kept spending money frivolously without regard as to how much they were borrowing. Within time the government saw it necessary to reduce the amount of spending to reduce the amount of imports they country bought and to keep the level of debt small but by that time it was too late.'

http://www.thecsem.org/content/argentine-currency-crisis

You don't still seem to understand the issue. You've just copied and pasted.

It is all about the pressure on the reserves. Government spending and borrowing creates inflationary pressure on the reserves. Overvaluing a currency creates pressure on the reserves.

FOREX is not only earned through trade but for Nigeria trade is the main FOREX earner. Other earners of FOREX come from capital inflows, FDIs, PFIs, remittances which is meager when compared to oil FOREX.

Countries borrow to shore up reserves. External borrowing is a source of capital inflow and thus contributes to reserves. To say you can't borrow to shore up reserves is false. What does the IMF exist for?

For an import dependent economy, most monetary decisions are taken with the external reserves in focus. The day you deplete it that day you are doomed. It is what happened to Argentina and Zimbabwe.

Below is the BOP compilation from the CBN statistical bulletin 2010.

All these ones wey una dey make na noise. The day the FOREX from oil goes down that day una go know say Somalia be like Washington D.C.

He wey get ear make e listen.

Katsumoto: I am sorry but does the Nigerian government use foreign reserves to purchase basic consumer goods? I would have thought that that is a function of markets. Importers approach banks who exchange currency for a fee. So as long as your profits cover your transaction fees, there shouldn't be a problem. Inflation will only arise with the CBN introduce more cash into the economy and not mopping up when it should. It wont be because an importer needs to import rice or electronic goods.

Argentina's currency crisis was as a result of huge and unsustainable debt and unpegging the peso to the dollar. That doesn't apply to Nigeria. While Zimbabwe's crisis was caused by Mugabe printing cash to solve his political problems.

I'm sorry but you have not spoken like you understand the issue.

Firstly, the CBN supplies forex for imports. Where does it get that from, it gets it from the reserves. What happens if the reserves are depleted? It means Nigeria would not be able to meet its import requirements. What follows, scarcity of basic consumer goods, inflation, further depletion of the reserves created by the inflationary pressure. It becomes a never ending vicious cycle.


In the case of Argentina like you mentioned, they pegged their currency and it was overvalued thus leading to a depletion of the reserves. This meant more borrowing to shore up the reserve to meet import requirements. However, inflationary pressure meant a further depletion of the reserves and thus a slide in the value of the peso. What subsequently followed was a dollarization to solve the crisis.
Zimbabwe was under a lot of sanctions and it found it difficult to earn FOREX through its exports. Massive depletion of the reserves and then it ended up with a dollarization.

Don't be deceived take away crude oil and Nigeria is doomed.

I just dialed the number now, but why is it not going through now?

Beaf: There is no point insulting people, because the truth is too bitter for you to swallow. Leave that for motor park touts and area boys.
When the rebasing of the economy has been done (which you seem to think will make farmers richer), then you might have the opportunity of ecstatic farmers sharing their bountiful largess with you. I imagine it will be a great day indeed! Lol!

Hey, go wash your skin negro.

Dede1: You seem to be ignorantly held in delusional crucibles. If you think crude oil is the only and major exporter earner of Nigeria, you must be drunk on crude oil. Real Estate later knwon as Nigeria was performing equitable fine in all aspects of human endeavor before the discovery of crude oil. Since crude oil was struck, Nigeria has become a basket of political acrimony, tribal hatred, religious intolerance, humanistic antagonism, unbridled corruption and retrogressive growth.

I really want disintegration of Nigeria by any means available so that few goons in Nigeria would realize they would have been better off without crude oil and the second half of the goons would realize they do not have crude oil after all.

Dede Mugu i wu onye ara. Come on get out of hia.

Firstly, I'm not bothered about the GDP figures because these figures are manipulated for political gains. I'm more bothered about the components of the foreign exchange reserves. Crude oil and Gas is the chief earner of FOREX.

Take away the earnings from crude and what you would see is a massive depletion in our reserves. How do we meet our needs for basic consumer goods which are imported? What you would see is a serious currency crisis. Inflation would almost make the Naira valueless just like we saw in Zimbabwe and in Argentina in the 1990s.

Don't be deceived. I would have taken more time to through the CBN statistical bulletin to illustrate this point. I don't like the whole noise of our "oyel", however, it is equally annoying that we seem to depend on crude oil to sustain our economy.

amosy007: Me think its soludo..
Though salusi is trying. Buh the man is too tribalized and religious bigoted to be called a cbn governor.. A secular with sound mind should always hold that position. Not sum1 that will implement policies that will make the rich get richer and poor to be poor.. And also use public fund to finance his religion and tribe..

And
@op try to add a poll

Can you explain this please.

Both are on a different class with different ideologies. Only ignorant people would compare professionals at that level. You may disagree with their perspectives.

This is erroneous.

Crude oil contributes over 70% of Nigeria's foreign exchange. For an import dependent economy, Oil is the life wire of the economy.

Secondly, it is the earnings from oil which drives other activities that form the component of GDP.

Don't be deceived, take away the oil and your economy is doomed.

You can't get the true picture by mere viewing such data without an analysis.

*singing*

If you steal 10 kobo dey put you for jail o

You steal 1 million people go like you, woman go like, dey call you oga

If you go to villa dey make you a chief o, you visit your church o, they make you a knight o, every occassion na you be the chairman

Police go come O, you run away

Police dey land O, you run away

Police go come O, you run away

Police dey land O, you run away

Na so so corruption for this we country, we are tired of this O, the gods dey vex

*insert agogo*

Fact is Nigerians are heavily discriminated against in most foreign countries. When I go to some places and tell them with so much confidence that "I am a Nigerian", one could see the unusual look on their faces. What is the issue should be our major concern. Is it over exaggerated that we get involved in criminality? Do we disrespect their culture the way some of us do even within Nigeria? Do we leave their countries and look inwards since it seems they won't stop discriminating against us? How do we get our young people back to work? We need answers.

Seriously if I had foreigners dominate businesses like real estate and retail in my country, I would kick against it. Who would not? These hypocrites complaining would be the first to kick against it if it happened in Nigeria. They don't need you people dominating small businesses thus crowding out their own people from the space. The message is clear.

*singing*

one morning, I woke up, I hear say petrol don scarce O

E no reach one month, I travel, come hear say workers done strike

Abi you no hear, er er er er errrrr, eh eh eh eh ehhhhh o, petrol palava dey bad o

Abi you no know er er er er errrrr, eh eh eh eh ehhhhh o, petrol palava dey bad o

*insert agogo*

amdy08: must we blame govt for everytn or av you had dat FG owns any pure water factory?.majority of our problems are caused by us.pls criticaly analyse Issues b4 u comment,tnks

hehehe So you have critically analysed the issue? Dem for even dash you the water for free.

Most organisations in Nigeria do not have respect for labour. Managers swear at their Juniors and nothing is done about it. Seriously it is a master slave relationship. To gain favour from management you must resort to what they call "eye service". For the ladies, there is no protection from being harassed by the randy boss. You wey come be man, wey Oga dey think say you dey pursue that babe wey in eye dey on, your own done finish for that organisation. What a shame! The unions have to wake up.