₦airaland Forum

I blame those who go to contribute their hard earned money to these ones in the name of tithes amd offering

Has anyone bothered to ask her where her own children are?

If she answers that honestly, then you can listen to her

All na scam

Nah bro...don't act like this. You are denigrating yourself.

Your response is devoid of any intellectual connections. Besides, you dont need to study economics to know what is correct and in public space. Simply doing a basic research before coming to spout incorrectness online is a common virtue.....it could make a primary school drop out correct a college professor online.

FYI, i did not only study Economics, I taught developmetal economics/geopolitics as a graduate assistant in diaspora in my early days. I never thought it was necessary to state that until you brought that angle in.

Lush100:
"In a way " the truth being said without trying to say the truth.

U are free to use social media and media publication to run your knowledge but those that read economics know what it is

I am leaving the group chat

Really??

phemray:
At this juncture, I think government should step in with a legislation. How can you increase significantly when small increase on pump price but can do same when it goes down. Other countries love Thier nation but Nigerians love themselves alone.

Wrong. Former NNPC was owned 100% by Nigerians via the Federal government. NNPC in turn held a majority stake in all oil JVs on behalf of Nigerians

Current NNPCL is still a government linked company(google GLC) established via an act of parliament. In a way it is still owned by the Nigerian public represented by the FG as a majority shareholder, much like Crown Corporations in UK/Canada and Government partnership enterprises in the US.

Just a a point of correction.

I agree with you though,on the less than transparent approach of the PIB and the obvious shenanigans surrounding it.

Lush100:
NNPC is a limited liability company.
Fem no send anybody.

Former NNPC was a corporation owned by FG with stake at least 51%.

The transformation of NNPC to limited liability was a fraud in itself.

Good evening

😆 ...see who is calling others dullards.. ; 🤣

It is easy to know those who do not have the basic understanding of primary school economics/commerce or to know of pricing dynamics in elementary management accounting.

A comment like the one below sells such a person out easily and puts him/her naked to the discerning.

TimeManager:
So, the cost of spare parts determines the price of transportation fare?. I asked again, where do Nigeria get these bunch of dullards?.



-Kiss the truth!

Lol....read what you posted again when you are sober...

lebete3000:
Only fools would think Osinbajo contested that Primaries to win.

He only did so to make the primary look competitive and real, na Amaechi dem really contest the primary, most of the rest go there go play.

While Ganduje, Uzor Kalu, Obasa and co roam the streets?

Until you het those mega ones....all these other ones na witchhunt

Aides are political appointees and have no stand to determine the legality, correctness or place the barometer of anything on their employers....they are not neutral.

This is a political jamboree

Never in my life did I believe tgat any rational or remotely sane person will defend, stand behind or even mutter any support for someone like Akapbio. This is someone with numerous cases of criminal fraud and miasppriation of funds currently sitting to make laws for the so called abiso g citizens of a country.

Natasha Akpoti or no Akpoti, Akpabio should be in jail right now or close to it if Nigeria were a serious country.

Daft....as usual, making stupid meanings off irrelevant things. That visit was a customary one by ordinary low level officials. Those guys have left ECOWAS for good, of course under the terrible leadership of the certificate forger

...but wait, what will you make of your Chief of Defence Staff running to Niger last year to appease them? Or you did not read the part where your CDS is stylishly appealing for a visa to visit those sahel countries that have left ECOWAS?

PressMumubutton

PressMyButton:
Small boys running back to Daddy.. Yeah, I know, Bitter People will be clenching their fists right now and boiling inside.



After God, na Tinubu 💪 God bless Nigeria

Where is he getting his numbers from?

I dont see laughing out at a what I believe to be a fallacious and narrow supposition to be anything, especially of they hit out and were dressed like they were correct

But.....if that irked you, i take it back.........regardless, I await your taking up the challenge with facts and intellectual arguments....

JuanDeDios:
Jeez! And you want engagement but start with lol.

Even the minister will not order that kind of vehicle for his extended family members in the village...

They will only fool the dumbos with optics

lol....interesting. I am wondering why you cant see the fallacies and contradictions in your post below.

You said so much but conveyed little. Simple question...... what led to the crash of the Naira and what made it surge past the N800/$1 after June 2023? I hope you would not mention the pent up demand, because all of that have been cleaned up now

Again, to assume that what Tinubu and co did in 2023 was just to simply allow for unification of the exchange rate is completely insular. That is the most infantile and the poorest thought out economic decision a nation has taken in nearly 30 years(after similar blunders by Thailand/Indonesia/Argentina) that will be a case study in geopolitics/economics many years to come. it was a simple devaluation(IMF March 2024 Report/Reuters November 2023). Who does allow for a "floating" of his own currency in an economy with so much local currency in circulation, with an above the sky aggregate demand for forex and a highly obtuse, insanely elastic sensitivity of the economy to the slightest increase in exchange rate, especially where USD is the dominant currency even in Nigeria. That was why their 800/700 estimation(announced as the true value of naira many times by Wale Edun, Cardoso and co) became a fallacious dream. It was gamble gone wrong. Even Japan, with all its developments and export capacity spends $billions every year propping up its currency to fight back the effect of the ASEAN tigers incursion into its turf for exports to the US. Whereas, a 3rd world economy with no infrastructural backbone for any production, riddled with corruption and woth an archaic economic monetary policies gleefully decided to float its currency, under the advise from its creditors and a visonless president out for the hunt for fame as a reformer and acceptability by the West.

In any case, we are back to to the dual exchange rates with the parallel market still thriving with a premium despite the unification. The funny part is that the dual exchange rate is ably encouraged by the CBN after so many policy blunders and somersaults. The gap is growing and if the economic dynamics remain the same for a few more years, we might see the gap between the so called official FMDQ rate and the parallel market rate growing further and further closer to what it was two years back. Additionally, capital flight has increased massively through the Fintechs(not sure you had an idea of how much moves out of Nigeria daily via these sources)


It has also been proven by IMF analysis(November 2024) that the currency devaluation had more potent effect on the GDP that the subsidy removal. The subsidy removal exacerbated inflation quite rightly, but the fact that companies that need forex to bring in machineries, critical spare parts and other raw materials suddenly seeing that they cant afford such and closing down operations instead, had a far more devasting effect on the economy than the subsidy removal.

Finally, I dare say, Emefiele might have had his faults but he remains a far better manager of the CBN and the economy than the ones we have currently. There was a need to defend the local currency and manage capital flight in an economy that was blowing hot on foreign currency dependency and bursting at its seams with local money circulation. His policies towards the end of 2022 were fantastic just that they came a little too late and political meanings were read into it. In any case, the current Administration is toeing some of those policies, especially that of defending the Naira with foreign reserves(too late). I am no supporter of Emefiele but to throw away all his policies as failures while embracing the brazen and unfettered mediocrity we are currently experiencing under this administration is double standards, especially when all interventions by Cardoso and co seem not to be working and they are retracing their steps back to some of Emefiele's policies

It appears you are ready for an intellectual discourse(a rarity on Nairaland) and I am happy to engage further, but can you help start with the stories of the false foreign reserve because I know a lot of people jumped on that sensational news then but failed to go an read the joint auditors report of JP Morgan and Goldman Sachs where they stated that their component auditor made an assumption on the Nigerian foreign reserve that was found to be wrong. Please provide your full, credible and un-refuted report of the falsified foreign reserve and I will be glad to engage further here or online or offline.

JuanDeDios:
No, sir. You get it wrong.

I understand the government unified the exchange rate (a totally necessary step to stop the roundtripping that made Meffy and co billionaires). The mistake you guys make is in thinking that that was why the naira crashed. It was the fact naira was artificially propped up under Meffy (posting false reserve figures and preventing foreign companies from moving out their money, etc.) that made it crash once the props were removed.

If it was rate unification that crashed the naira, the fall would have been halted when Shonubi suspended rate unification when it got to $1=N800, but that didn't stop the fall in the parallel market - which is where most traders access dollars.

Even if rate unification contributed to the problem by some argument or magic, it totally had to be done. Subsidy removal was another matter. That was what made transport rates to go up. They could have removed some of the subsidy and leave some till local refineries come on stream.

Calamities

nwirinedu:
And IMF says the reforms targeted at destroying the local economy are working.

Change to deriving your economic news from credible news sources like IMF database, Reuters,.AP, Economist, World Bank database, etc, and leave Nairaland for entertainment only. You will be fine.

Emmy000seun:
But I don't understand one thing on nairaland anymore, today you read news of the economy improving, tomorrow you read another news of bad economy..na propaganda world we dey now or what??I derive all my news from nairaland because I have been a member over 10yrs ago, but reading news on nairaland this days is not like before.

Lol....i said it here many times before...Nigerians are yet to understand the enormous impact of Tinubu's economic blunders that he is disguising as reforms....50 years from now Nigeria will still be feeling the effects

A lot of you still get it wrong

The more potent killer of the economy was not the subsidy removal it was the devaluation of Naira

JuanDeDios:
This is why Tinubu's subsidy removal, the way it was done, produces a NET LOSS. Those who think it was a good move because we're seeing some ill-defined "gains" are misguided.

Lol....super daft,empty and a liar.

I thought he even had basic knowledge. According to records debt servicing is 35.4% of 2025 approved budget. Where did you get 60% from?? These are people who don't know anything or dropped out
from school but come online to fabricate lies just to get paid stipends.

Question was not even the currency they pay the foreign debts or meaning of debt servicing....but that the recent depletion of the foreing reserve was not for debt repayment nor servicing.

You can see your life outside. After being caught telling lies and assuming that the only data in world bank's wensite was for Worldbank only....here you are telling lies and twisting things too...olodo!

Now that you have learnt a few things from me...just say "Thank you sir" and disappear from the thread quietly or change your username like some have done recently because you have been marked as an unintelligent poster and a liar.

Look into the mirror....you should be seeing a blinking ass.....that is you...the true ignoramus.

galserv:
Really All these stories/unncecessary research just because you are NOT aware of the concept called DEBT SERVICE

Debt service takes 60% of our revenue and is a major component of our budget. Do you think we pay it in Naira

You dull gan o

Ignoramus!

Dont equate owning a business venture to intelligence....they can be mutually exclusive.

What more evidence do you need to confirm that Nigeria is degenerated....get out if you can..lol

Lol!.....kai! Lord have mercy!! Nairaland!!!! What will I not see??...

The World Bank website holds all economic statistics for all nations including GDP, money supply, balance of trade, inflation rates, foreign reserves, external and domestic debts, trade volume, GDP to debt ratio, etc.

It is for all statistics. Just like Economist magazine website, CIA Country statistics, IMF website, WTO website, AfDB,EU global economy statistics, etc, hold all economic statistics irrespective of whether they traded with you or not. Those websites I have listed are considered credible globally and those are the places I get my data from since I did my graduate studies research work many years back(I dont use all those your propaganda driven sites like Nairametrics Bloomberg or any other uselesss ones)

The fact that your brain went straight to the amount of loan owed to World Bank alone as the only one on that website showed that you lack basic cognitive requirement and the exposure to engage in any intellectual discussion on economics.

Your post below is askin to stating that because Nigeria only have less than $4bn loan with AfDB, they will only record that amount($4bn) when they are reporting Nigeria's external debt portfolio...lol...or saying because we dont sell as much to EU as we do to Asia and America, when they are reporting Nigeria's total balalance of trade or total exports, they will only limit it to the volune of exoorts we do to Europe....

Furthermore, if you were intelligent enough, you should have known that Nigeria does not owe as much as $120bn to World Bank alone as at today. So how did you assume all of that were owed to WB alone?

I have serious doubt you know how to navigate these websites I have liste or have had any course to visit or use credible sources of sttistics in your life. You must be getting your economic updates from TVC station and Pilot newspaper.

One by one, we will push out those of you that never went to school and are coming to Nairaland to disgrace yourelves.

The definition of ignoramus is someone who knows not, does not know he knows not but brazenly displays that he knows nothing publicly.

You are the ignoramus here...lol

galserv:
Are we are owing only the World Bank

Use your head!

Ignoramus!!

Lol.... bros, check workd bank website, Nigeria external debt stock had remained same from July 2024 to February 2025. Nothing has been paid

You may be the dullard

galserv:
Don't be a dull@rd!!!

The foreign reserve is depleting because we have to pay our DEBTS and not as a result of defending the Naira.

Or do you think we repay our debts in Naira

Bros, are you sure?

Because a quick check on the World Bank website on Nigeria's external debt stock remained $102bn from July 2024 to Februry 28th 2025. Nothing has been repaid out of it between those months(except payment was made in these 5 days of March 2025) . You can check it yourself online, the world bank website is free.

Meanwhile we heard loud and clear when Bismark Rewane said CBN was using forex reserves to defend Naira despite telling lies that it was fully floated and CBN never cane out to dispute it

If you check and confirm the above, do come back and tender an applogy to the guy you called a L*un.ti in your post. Otherwise we will know that you sre the truest of Luna..ics on nairaland.

galserv:
Don't be a l*natic!

The forex reserve depletion has nothing to do with Naira appreciation

It's due to debts payment

Bros....i been no know o

As the guy dey make mouth, I wanted to learn something from him....did not know he will disappear from the thread sharp sharp!!

Ojuntana:
Be like you wan carry dead body
You should be able to spot a troll
Most trolls are empty
That's why they troll

Lol...We knew that 25 years ago.

Bros, it appears you know economics so well and you are grounded.

Please, I am willing to learn from you. Therefore, i am inviting you to accept the challenge for us to engage here intellectually on the benefits of increasing foreign reserves to an economy experiencing deflated domestic production and weak currency.

We can do ir devoid of caustic comment or insults too.

I will be excited if you accept this challenge sir.

wellmax:
Says someone with zero knowledge of economics.

As dumb as your hoebi.

Lol....paid write up

Lol....Bros rest....you don't have the faintest idea about what you are writing about. Its above you thinking capacity.

I don't even bother to read your gibberish. I dont indulge people who falsify data to make their points.

I am very big on integrity

DeLaRue:
Oh dear.

If the CBN has spent $2 billion in 2025 alone as you claimed, that still doesn't conflict with my assertion that the CBN's net contribution to the forex market so fat this year has been just 3%.

You clearly are not aware that the CBN sells and also buys dollars. You people only focus on the selling part.

In my previous posts, I made it clear that the CBN has been buying the excess dollars coming in.

And that is why I used the words 'net contribution' , meaning the difference between the amount of dollars the CBN has sold since December to now and the amount it has bought.

So even if your $2 billion figure of dollar sale is correct, it means the CBN has also bought $1.94 billion during the same period. That is why I said its net contribution to the market is about 3%, which has a negligible impact on Nigeria's Reserve balance.

I have been consistently correct.

You just need to calm down and read to understand things.

Bro.....i wonder too...

The dela rue guy has been spewing gibberish all across topics on Nairaland Ns I have been ignoring.

Not sure he is educated or most probably a dropout with access to cheap phone and MTN data.

donself9:
You must be a dunce, how can you posit an excess dollar into the country is detrimental to the local currency

Do you even pass through school at all, do you understand the basis of demand and supply law
excess dollar inflow into the economy resonates with a favorable balance of trade, ... what records shows Nigeria has favorable balance of trade

How do you posit excess dollar at a time, int'l oil price keeps droppin and our National budget is being run on a deficit

CBN buying up excess dollar ke ... you sure say you go school