₦airaland Forum

Rossnitti:
TOP 10 FASTEST GROWING ECONOMIES IN THE WORLD

- source: Nasdaq


1 - GUYANA - Black Country

2 - ETHIOPIA - Black Country

3 - RWANDA - Black Country

4 - BANGLADESH

5 - INDIA

6 - IVORY COAST - Black Country

7 - DJIBOUTI =- Black Country

8 - CAMBODIA

9 - SENEGAL - Black Country

10 - MONGOLIA


So..... of the 10 fastest growing economies on Earth, 6 are BLACK nations.

Not bad for a supposedly ''inferior'' race.


https://www.nasdaq.com/articles/the-5-fastest-growing-economies-in-the-world-2019-06-27

What is the source of the growth? Loans from china and chinese labour - it is growing not because of anything the black man has intrinsically done. And no no one said blacks are inferior!

MusaChukwudi:
Bros I will not trade insults with you. YES we were still in the mud hut when the Economic structure of the world was created and firmed up!

None of the African countries were independent and a partner when the following organisations were created
UN
IMF
WTO
FIFA
WORLD BANK

IF an African country produces a car today, nobody outside Africa will buy it.

Please go and do more research about the WTO, Brentton woods agreement, scrabble for Africa etc etc

You will see how the European masters had laid the ground for our deprivation and struggles.

Please feel free to hate yourself, I am just giving you the facts! It is better to work with scientific fact rather than self hating yourself which doesn’t solve any problems.

If nobody in Africa buys an African car then let the Africans by their cars among themselves - for africa has 54 states!

Moreover, the black man has such low iq and no confidence in themselves that they will not even buy their own cars - the nigerian car manufacturer nigerians arent buying them. nigerian government does not prefer to buy made in nigeria cars.

Also cocoa. Nigeria and Ghana have cocoa near monopoly but the black man has not been able to create a working cocoa mercantile exchange! These exchanges are in London and New York and Amsterdam! Its such a shame - Nigeria and Ghana does not need EU buyers - it can be bought and sold in Africa.

Finally, the points you have highlighted shows the white man is able to come together - while the black man is SELFISH and individualistic which is why the white man has been able to have upper hand in trade....

MusaChukwudi:
You have no exposure otherwise you will understand how the colonial white racist rulers had already created a WORLD TRADE SYSTEM and ECONOMIC STRUCTURE which ambushed and significantly disadvantaged all newly freed (so called independent) black countries.
That is not to say we are not heavily responsible for the mess we are in today.

Do you have such low iq to be always playing victim?? When they were creating the world trade system I guess you were still in your mud hut or looking for ritual money. Excuse creators and blame shifters who refuse to take responsibility (sign of low iq)

MusaChukwudi:
You have identified the real issue, INDISCIPLINE.

Reckless financial indiscipline, moral indiscipline, reckless population growth etc etc

Nigerian/African culture is too relaxed, too casual and too unserious - ppl are hardly serious. Police officers don't take bribe in the UK not because they are very highly paid but because it's unbecoming of a police officer and morally wrong. The boss if the officer will also fire the person without abeg

Ikengawo:
You have to try to recover from your self hate. Its a byproduct of low exposure. Otherwise you're useless to everyone

This isnt true. Schools served a very small portion of the population. So of course a school system that onky serves 1% of the population will seem nice. The british built 1 university to serve the whole of Nigeria (Ife) and 90% of its cirriculum and facilities were developed after. Literacy was less than 20% nation wide with even less populatiom than today and life expectancy was exceptionally low


rail did not serve Nigerians but rather extraction of nigerian minerals to england. Once this dynamic was possible the fell to disuse.

Not to mention the thousands of people killed by the british (Enugu Coal strike, Aba womens war, Ekumeku etc)..They kept record of how many ppl they killed a year and if you want to see i can present. All by the working policw you cited.

Being nostalgic about the past, either to glorify Africa or to glorify whites, is never based on a comprehensive understanding.

There is no single developed black majority country and that is a fact. Ethiopia and Liberia that werent colonized are shitholes. Live with your shame.

Dedetwo:
What do you mean by "Due to no change"? Are there no smaller dominations of Naira in circulation?

if you are setting up a super market or if you are in the open market, you will need to set the price of your items, if you price N950 and you are always having to provide N50 change you will sooner or later be tempted to just make the price N1000 to make things easier....simply because the note is available but if the N1000 note isnt available then we value the N50 more in this example....

Supermarkets that price N550 N650 are hoping the total will be a multiple of N1000 so there's no need to find N50 change.

thebosstrevor1:
The atm is also a problem, i too was wondering why lower denomination wasn't coming out from the atm machine. It is weird you know, the banks are not thinking about the inflation risk but customer convenience

Atleast atm needs to be dispensing more lower denomination like from 50 naira above, it will help curb inflation.

Exactly!! Maybe the N1000 note should not be scrapped completely but at least ATMS should be dispensing N500 and N200 and N1000 only once in a while....

....

thebosstrevor1:
But a very competitive retailer can beat down the price of all the goods in a market.

For instance if the real price is 750 and others round theirs to 1000, the retailer can decide to round his to 850 thus making his own goods cheaper and this too can bring others competing retailers price down.

On another thought, the rounding up of figures kinda of encourage price haggling.

As a retailer you need to have enough N50 notes to be giving change to all customers in a business day.... atms disburse N1000 note not N50 note so there is more N1000 note in circulation....

Because it takes a lot of work to arrange N50 change to customers daily (you need to liaise with your bank) and atms disburse more N1000 note and no N50.... it's easier to work with N1000 note.....

So it's unlikely the scenario you paint will play out

thebosstrevor1:
I see. I think i understand your logic, greed, cheating and the lies of no change increases the cost of goods and services thus causing inflation.

That means price control need to be reinforced to reduce inflation or should the government made the little denomination more available?

Exactly. And that removal of N1000 note is a means of price and inflation control.

Also having to count 5 N200 to get a thousand psychologically gives a thousand more value... these days ppl spray N1000 note at weddings!

RedPhoenix:
Yeye logic

Let me burst your myth for you.

Okay. 1000 Naira note is scrapped. But then, two 500 notes is 1000 Naira, and five 200 Naira notes equals 1000 Naira. This should also sustain increased inflation as suggested by your shallow poor researched economics. Scrap all currencies then

The very fact you have to count 2 N500 to get a thousand automatically gives the N1000 more value from a psychological perspective....

"Scrap all currencies then" - I won't go that far....

thebosstrevor1:
Not always true.

A country experiencing high levels of inflation introduces higher denominations or re-denominates in order to meet the higher demand for currency.

Many products are not round figures especially when you buy them from the wholesalers.

You claim the real price of something is 750, why round it up to 1000 when it can be easily rounded up to 800

@ your last paragraph - the answer is greed.... I can round to N1000 because the note is available and it is more profitable for me to do so! Also the buyer is likely have N1000 or 2 N500 than four N200 notes these days!

The probability of rounding to N800 is higher if the N1000 note isn't there.

So we are in agreement here....

thebosstrevor1:
Not always true.

A country experiencing high levels of inflation introduces higher denominations or re-denominates in order to meet the higher demand for currency.

Many products are not round figures especially when you buy them from the wholesalers

At your second paragraph: I contend politely that's it's not true.... inflation is a function of demand and supply in a market.... a higher currency note plays to greed.... people will always want N1000. Also what is common loses its value they say. The N1000 note is COMMON so it has lost its value. But in UK for example £50 note isn't common and it has a lot of value just because it's not common

thebosstrevor1:
So how are we sure you are right because i see no valid point you made

It's self explanatory.... prices in Nigeria are tending towards N1,000 N10000 N100000 because of N1000 note. A lot of times its due to a psychological bias for rounded values....

N1000 note is responsible for at least 30% of the economic hardship in Nigeria. If N1000 note is removed from circulation most things would be forced to reprice

thebosstrevor1:
Na wa ooh.

Higher notes are printed because to curb inflation

It doesn't curb inflation - the examples I've given shows it FUELS inflation

The real price of something is N750 but due to no change its priced at N1000. You buy 30 such items per month. Your loss is N7500. Same with N500 note. The real price of something is N400 or N450 due to no change its made N500. You lose money when you buy 40 such items per month. You lose N2000

thebosstrevor1:
I have one question.

How old were you in 1960

Nigerians love personal attacks and deviations from facts..... please let's continue to discuss facts without getting personal.

Ikengawo:
Can you explain how 1960 was better than now, or are you just being emotional?

The currency was stable and valuable.

Institutions under colonial rule were all working - trains, justice systems, police etc.

Universities and secondary schools had good oversight....

Its not a racial matter it's more of a cultural matter.... what the white man has that the vast majority of negros don't have is DISCIPLINE. Once oyinbos left with their disciplined culture everything collapsed....

It was the culture of indiscipline that idiagbon tried to stop in the 80s without success....

this article below shows how in the span of 30-40 years, Nigerians have completely destroyed their currency:

https://www.pulse.ng/lifestyle/food-travel/a-trip-down-memory-lane-the-timeline-of-currency-in-nigeria/257f84d

teadrake:
Benefits that a public servant that serve the government diligently for 32 years cannot boast of is what ex governors are enjoying. This is pure wickedness!!

Luggard didn't name Nigeria England or Austria.... he saw how the ppl behaved and reasoned, understood niggerr was derogatory and then chose Niggeria as the name; but this will be too obvious so 1 g was removed to the current Nigeria....

Arrewa:
Elrufai is working!

If 1k can sustain this development!

I endorse it!

its not by the beauty of the infrastructure i.e. the pictures shown... it is by discipline and enforcement. Are people driving recklessly on the road, doing one way etc? does sars operate on the road? anyone can build infrastructure but it is up to citizens to conduct themselves like civilized people that are not animals.

AreaFada2:
Farms dey Lagos o. Ikorodu has agric land though long encroached into. Epe has too.

Lagos has many livestock farms. That's agric too. Remember Lagos partners with some Northern states in farming.

Lagos should encourage urban farming. Like rooftop farming, aquaculture and other modern farming techniques.

Hong Kong and Japan with relatively little fertile land are really getting big time into it.

But does the available land warrant these billions?

YouAreFinished:
How is the Nigeria of 1960 better than today

Ask anyone that was born in the 1930s 40s or 50s they will confirm it to you. The British came for trade and resources but they left the country in decent shape. The currency had more value - this of itself is enough evidence. They also didn't open fire on unarmed protesters....

The British left in 1960, just 7 years later there was a civil war!

The Nigeria of 1960 is clearly better than the Nigeria of today in all ramifications....

There is a sars in every Nigerian - the culture in this country revolves around oppression of others and being unserious - everything is converted into a joke & people don't know where the line is or don't want to respect the line.

So the conclusion is that Nigerians cannot rule themselves!

Merimental:
we Africans have our own issues but it's not to be confused with d obvious facts dat England don't see blacks good enough to manage any team in d epl.

I'm only echoing d same complaints by Raheem Sterling a few months ago.

try seeing d video, he literally spoke against racism n growing concern about zero black managers in d epl.

then they should go to africa and manage enyimba and co - its called self respect....

StagethemTVee:
This is a video of a car being washed while moving in Lagos traffic. It is common sight to see a windscreen being washed in traffic but this was taken to awhole new level with the whole body of the vehicle getting a touch of the mobile car washers.


https://www.youtube.com/watch?v=PBJEKbQwV-s

...

Merimental:
who's managing ur darling super eagles ??

how many times have white folks managed d eagles team 4 ya darling country ?

hw many blacks have been given chance to manage a national team in Europe. just one

Im talking of football teams i.e. clubs not national teams.... the point is every country in europe has a solid club but africans leave their countries and go and start playing for european clubs.... why cant it be africa that has Nigerian/ Kenyan Premier League that the whole world is clamoring to watch or na colonialism cause that one too?

Merimental:
seriously ? how many Black managers are in d epl, ligue 1 n ligue 2.

racism is non verbal in England n Europe. it's a way of life.

How many white football managers are in Nigeria and Ghana?? The black man can't keep going to Europe that's already built and be crying racism.. .. there's Enyimba FC in Nigeria - why can't blackd manage it?? Why must it be European ones they wanna manage??

Despirado121:
Earlier Thread; https://www.nairaland.com/6246195/sanwo-olu-seeks-law-cancelling-pension

Former Lagos State governor Bola Tinubu has described the move by Governor Babajide Sanwo-Olu to repeal the Public Office Holder (Payment of Pension Law 2007) as “bold and courageous”, Igbere TV reports.

The law provides for payment of pension and other entitlements to former governors and their deputies.

Mr Sanwo-Olu told the State House of Assembly of his intention on Tuesday during his presentation of the proposed N1.155 trillion 2021 budget.

Tweeting on Wednesday, Tinubu expressed his support for the governor’s plan and congratulated him on the budget proposal.



https://twitter.com/AsiwajuTinubu/status/1326546734575620099?s=20

Igbere TV reports that the move if granted will see an end to the payment of pension to former governors of the state including Babatunde Fashola and Tinubu.

https://igberetvnews.com/1371328/tinubu-reacts-sanwo-olus-move-cancel-pension-ex-govs-deputies/

It's allegedly a pre arranged script they both planned between themselves.... moreover some one has already collected enough.

dominique:
As long as you believe there is a justifiable reason for a human being to inflict torture and injuries on another human being, you're no different from the beast. People annoy all the time, I don't go grabbing weapons to attack them. The goat did what he did because he knows there will always be people like yourself who will absolve him of blame and push all the blame directly or indirectly on the victim.

Thanks for speaking the truth... in feminist circles this male behavior is called toxic masculinity.

With men any slight conflict = grievous bodily harm/ kill....

Women don speak tire....

It's not just man beating woman it's also men killing themselves.

For example - Mary scratches Sarahs car in traffic they both pull each others hair.

But John scratches Monday's car in traffic Monday kills John on the spot....

IT'S ANIMALISTIC

ebukajay184:
Mr Akingbade Ishaq, a staff of State Universal Basic Education Board (SUBEB) LGEA EDUCATION SECTOR, Epe branch, Lagos, inflicted machete wounds on his wife, kicked her out of the house they built together and threatened to kill her and their children, if she expose him, IgbereTV reports.

After photos of the battered woman went viral on Facebook, Nigerians located her husband's account and rained abuses on him.

Click the link below to see the man’s Facebook account.
https://www.facebook.com/100006356709687/posts/2828778177344045/?app=fbl

https://igberetvnews.com/1371243/man-injures-wife-cutlass-threatens-kill-children-graphic/

Wat is wrong with men these days... the word man is becoming synonymous with killer....

nairavsdollars:
Temidayo Akinsuyi, Lagos



https://www.independent.ng/apc-backs-sanwo-olu-on-abolition-of-pension-payment-to-tinubu-fashola-others/

Who ordered the lekki massacre - this pension distraction should not be used to obscure this question.