₦airaland Forum

I as a village king produce yam from some of the farmlands owned by the village(NOT ME) at total cost of N25/yam. I decide to sell to my villagers at N40 though market price (inter village price) is N80.. Do we call the N40 price a subsidized price from N80 or in fact a N15 taxing of the villagers per every yam bought- because they all jointly own the farmlands?

Gentlemen, what exactly is subsidy?
We extract crude in Nigeria sell at intl crude price(a), bring it back at intl crude price + refining and logistics cost(b) and we shout that there is subsidy because govt reduced price(b)! If we were refining in govt refineries, we(govt) could sell to ourselves(citizens) at any price higher than cost of drilling + refining.. would u still call that subsidy cos it is not at intl price + logistics(b)?

treesun:
Major reason dollar rate is high, not too much cash flow!

People should know that the low crude production rate above is the singular reason for the fx rate crises.
Unfortunately, not serious focus is going into that. Floating or not is not the issue... low $ supply is the main issue

Lol.. be looking for first body up and down like this is not Nigeria

idealogical:
Rail system is worthless and has no economic potential?

The crazy things we read on this platform

But he is quite correct! What he is saying is what infrastructure can help us to engage in production that is either import substitution or export production. Cos u borrowed $ for the railway... so what is the $ ROI. NOTE, It is NOT rail fares earned in naira converted to $ but $ opportunity cost. For instance, we can say the $19bn given(or sold)to dang refinery will yield billions of $ in savings every yr cos of import substitution (specifically refining). U could also say, d $ given (or sold) to BUA cement leads to $ revenue through export. If the govt invests bn$ in power for instance (with results), it leads to a lot more manufacturing of which some will be import sub and some export productn-- the $ values of these will be the $ ROI for the country, not even the taxes.

@gaby: a major problem of this country is corruption but d current fx rate issue is basically a $ demand-supply issue! Supply is quite low, so price must increase to an equilibrium point where demand will now be reduced to the supply value..
Of course corruption is part of the reasons we have a low $supply ($ loans embezzled being paid back now, govt allowed oil bunkering etc)
And pls buhari was very far from a solution !! Buhari literally presided over a 50% reduction in crude production(the major cause of $ supply reduction)--he did nothing to stop it.
He presided and actually encouraged(by doing nothing)his kinsmen to unleash insecurity all over the country which caused lower farm outputs and higher agric import demand. Insecurity also led to lower $ FDI.
PLS don't assault our sensibilities again by saying buhari tried for a solution... a lot of these problems are from his admin

joelbooks:
If I may ask, is Nigeria currency Dollar?

When there is so much noise on someone else's currency? All of a sudden the whole of Nigeria need dollar.

https://twitter.com/MoraOgo/status/1752352188385337407

You and ur quote are comical characters.
Noise about $ u say? Even the raw materials used by innoson,by Guinness and the few local manufacturers, are they not imported with Fx?

People keep talking about defending or not defending d naira, floating, not floating etc when the actual issue is simply that we don't earn enough fx for our current import demand! The solution is to increase fx earnings or(and) meet the import demand by local production.
BTW d govt has to defend d naira(ie supply usd to d market) because govt is d major/ largest earner of FX. The extent (at what price) to which they defend is what might be subject to debate

Icrave4u:
If you want the Naira to appreciate in value, do these twenty things.

19.Holiday and honeymoon in Obudu Cattle Ranch, Yankari Games Reserve, Ikogosi Warm Springs, and attend Argungu Fishing Festival
20.Reject imported frozen fish, meat and dairy products and buy fresh produce from local producers

Nobody is coming to save Nigeria. It is only Nigerians that will save Nigeria. Local brands may or may not be as good as foreign ones, but with continued patronage, they will improve in quality. Buy them, and your Naira will rise along with your personal happiness and the international rating of the green Nigerian passport. Your value is tied to Nigeria's value. Buy Nigerian and Nigeria's foreign reserves, trade balances, and debt to GDP ratio will automatically improve.

#TableShaker

The people cannot coordinate themselves to do some of these things... it is the government that will coordinate the people. The Govt needs to motivate or create policies that will make people choose local.
BTW the govt also needs to create the enabling environment for local production.. for instance, fish, poultry, palm oil-- these are things that are imported because local production is not enough. Yet, nigerians want to produce but enabling environment is just not there.

RepoMan007:
that's why govt need to do the crediting of dollar into merchant's account directly and not trust any random importer with forex. You pay into the account of reputable sellers the dollar and let the buyer pay you naira equivalent. We don't enough dollar in govt hand to declare single exchange rates for toothpicks or wines and medical supplies.

Hw many sellers do they want to do this for?
BTW we are talking about Nigeria where d art of corruption has been mastered. Send $ to merchant, the Nigerian buyer will still find a way to get d $ back and sell at black market cos it is ultrahigh ROI and zero risk compared to even d tractor business. Even d CBN officials are corrupt and would work with u to falsify merchant details..
See b4 u bring out policy, u have to consider all the ways Nigerians might circumvent it otherwise it will fail

What you are saying is impractical... it sounds right, but it will lead to chaos which it did. Some person with influence will tell u he needs dollars to buy tractors, but then he will get it and go sell in the black market -- zero risk business, high ROI... at d end of d day, d CBN was fooling itself by doing all that pegging & 41 items ban shenanigans. Economics is not sentiment. It is a social SCIENCE

Cause of problem: There are no dollars.. simple.. Nothing CBN can do about it.. the govt is d one to create systems & policies to drive in more dollar earnings.

RepoMan007:
I have asked countless times here too. Emefiele was obviously getting it right compared to some patchy-patchy sophistry of a politically-minded tinubu team.

It makes no sense to give someone going to buy hair extension and tractors dollar at same rates. Let the less important one, that's consumption focused, go to black market and buy at N2000 a dollar, but give the tractor importer at N200 a dollar. That way, you encourage people trying to increase local production. They can take future pressure off the dollar supply with import substitution.
Emefiele was right to partially disown some ridiculous imports via that list of 41 items. Today everyone is justling for same dollar and the price has gone haywire.

tensazangetsu20:
It's gonna be 3000 naira to a dollar by year end. What a hopeless shithole.

This Tensa mouth sef...

Who send him msg?
Even the tenants he thinks he is fighting for - he is really not helping them... when u have to pay for a yr
, u plan yourself well ,pay and forget about rent pressure. If u don't have u borrow or u negotiate with landlord to pay 6 months or some months... rather than cause a monthly chaos

sukkot:
well selling someone’s phone is wickedness. All their life details is in it. And I am not speaking about personal items. Am talking about finding CASH MONEY

Lol.. but if d person disagrees with u taking 20 out of 100M, u run away with everything -- what is that--kindness?

sukkot:
that’s no big deal. I would return an iPhone too. I don’t need it. I have 3 iPhones lol

Unlike u in this case, he needed it/the phone sale could have helped his life but he still chose to return it.

DenreleDave:
You seem like the type that has a very sharp mouth with bad attitude...... Your mouth is very troublesome and destructive..
You have been told to let go as it is within the family and such won't repeat itself again but bcox of your troublesome nature, u no just gree

You are only talking from one side of the story and not the full picture..


But your husband should not have left his daughter like this? African men behave badly and when they grow old, they want the kids they maltreated to take care of them...

David shut up!! Hw can u pour pepper on the injury of the victim? Are u this insensitive? Even if she has any fault which I can't see, can't u see the overall 99% fault is from the in laws and are bewitched husband!
D 15yo is a granddaughter just like the 4yo.. why punish the 4yo for the wrong doing of the 15yo instead of disciplining her and praying for her to change?
The lady for now needs a job to take care of her daughter.. i would advise her not to be vengeful against the family or her husband... Just leave them and try to find your feet. And the interesting thing is d unwise husband will surely come back for the daughter at least at some point in time.

@sukkot

farouk2much:
Meet labani he is from Kastina state

He is a Muslim, he returned this my Friends iPhone 13 Pro Max that I am holding( left hand ) , the lady in the picture is the owner of the phone , the phone was mistakenly forgotten inside his keke and he was called to return it

He said he will return it , that he is carrying passenger that once he offloads them he will come to the location and hand it over

He returned the phone and went back inside his keke to drive off without requesting for anything , he was called back and was offered money in appreciation he declined but said he can’t see what’s not his own and take it that he is a core Muslim that they don’t stèàl, was begged to take the money which he later accepted

He needs to be appreciated 🤝God bless you Lebani

Phone of over 1millon he returned it despite knowing the worth of the phone



Me: this is what Islam teach us. Alhamdulillah.

sukkot:
listen, if you are doing very well and you find money, by all means return it back. But if your akant is red and you find 100 million you better negotiate your reward or you are a simp

Question is would u like someone to treat u like this?
Would u b happy if u lost 1m and someone is stealing off 200k cos he found d money for u?

nairavsdollars:
We expect you to appoint a seasoned economist or MD of one of the banks as Central Bank of Nigeria governor but you appointed a man that served under you as Commissioner when you were governor in 1999.

Cardoso appears clueless as Naira continues its free fall.

Now N1m = $735

£1 = N1,800

Eeyah.. while I share ur sentiment about Cardoso little experience in banking or economics, d performance of the naira is not much with d CBN!! They can only manage/optimise it..
Naira performance is strictly based on the fundamentals of demand and supply of fx.
Now d CBN can practice voodoo economics by selling d $ at a LOW unreal rate of N500, N700 and keep borrowing dollars to fulfill such obligations.
OR the GOVT(not CBN directly) can create systems & policies by which FX earnings can increase and/or FX demand can naturally reduce(not gag demand)

What exactly is he trying to get at?
So true d dollar funds are held by some fintechs... hw did the fintechs get the naira they send to end receivers.. did they steal it? Didn't they also buy it from those who need dollars ?
All of these fx issues is not really about black market or not, it's about scarcity of the total fx(cbn+black market). .
And they keep blackmailing the black market as though this is the first time we are having a black market... typically b4 now, black market rate was usually just some N2-N5 more than cbn rate... what then changed? SCARCITY !! The pegged CBN rate in buhari time was usually not real.

Mandate1:
for now, he's a but better than the present. The hunger is too much.

In case u don't know, he is d direct cause of the present distress!!!! And he managed to keep d damage caused by taking loans upon loans to fulfill obligations... Tinubu simply reduced a bit the loan taking but then we have to pay it back and Tinubu himself has not figured a way out of the economic destruction caused by buhari

What are these hard decisions btw-- is it the tacit support of Fulani herdsmen called bandits causing destruction everywhere or the rehabilitation of bokoharam vampires or govt inactions that led to cruse production reducing by half... What exactly was d hard decision ds Nigerien man or is it the dashing of N1bn govt vehicles to Niger?

Maxxim:
God punish you
😤😆

Sho! What did he do for u?

AgbadoDie:
A little bit above 100k

Find a job that pays equal or above this and quit.. your current environment has become toxic.. not good for your mental & emotional well being!!!

nairalanda1:
Yep, pay them, and they will go and do it again


I know my solution is not popular, but the day Nigerians stop paying them kidnappers and bandits, that's the day they will give up.

Sure, dem go kill some of their victims. But as time goes on, how many can they kill?

Anyway, the problem started when we started paying them.

U r a joker... Ur solution is not only unpopular but impractical.. God forbid u are a family member or friend of d family above.. would u still be confident to say this?


The police, DSS should do their jobs and make sure every kidnapper faces d music!

gracedson:
I feel alive. I have control over my life and my time.

My experience in Canada was Bitter-Sweet. Of course it gave me exposure. Now i see Business(es) everywhere, there is a lot of money to make in Nigeria.

Never will i move to another country again, except for vacations or short stay.

Perhaps u should expound more on what u mean by bitter sweet of Canada, hw do u feel alive, what do u mean by u didn't have control over your life in canada, so people can learn.

Christians don't realize that God's Blessings transcend beyond the natural - money, health... that you cam be born again is a major Blessing... That we have been called to be like our heavenly father in heaven is a monumental Blessing we currently can't comprehend.
Eph 1:3

Prospertochu:
Their mother breaks the family because of greeds she abandoned them and to reconcile with her is a big no. I am waiting for her to report me to court 🙄 I will attend the court. if they grant her custody of the children and visitations rights for me no wahala I will release the boys to her and they will be unite with their sister. I will continue to do my duties as a father.

This is highly dumb and unwise... Even if she was truly greedy (which she wasn't ), don't u have your own flaws?
Isnt it better to tolerate her and she tolerate u than having a whole 3 children grow up with separated parents? With u thinking about those kids and having another set of kids with another woman(who might be worse than her) or not remarry and live a lonely life?
THINK Man!!!! Don't make choices u would regret later on.

Thundafireseun:
Try this in the western world

Please

West ham footballer Kurt Zouma kicked his cat and almost went to jail

Try this on your child in the west and spend the rest of your black mentality in jail

U this boy, shey u know thunder needs to visit u for this your mental slavery to the West..... If u can't see the decadence in the lives of their young ones as a result of their being pampered, I wonder how u see things.

Samantha124:
We are Africans and traditional wedding is part of who we are.

Who says culture has to be static?! Culture is dynamic samantha..

Pimples is caused by oils blocking skin pores mixed with dirt.. so since u have oily skin, RINSE ur face often with WATER alone immediately u get back home from class/work and esp b4 u sleep. Make sure u use pillow case and that u wash it every 2ce a week. Use 1 face towel daily. Stop all those oil based creams