₦airaland Forum

GloriousGbola:
I would agree but for one thing. The real wealthy do not splash the cost on items. At least not oyibo wealthy. That showing the price is a pure Nigerian thing because it is really about promotion of a status symbol to the classless wealthy.

nihilistjnr:
Nah no doubt.

The most noticeable improvements came during the Fashola years, but I want to caveat that by saying...the most noticeable improvements came on the Island, at a time when mainland population was exploding.

At this point I was already in the UK, so can't speak with too much authority, but every time i came back the mainland seemed worse, but the Island seemed better and better.

It's only in the Sanwo-Olu era I began to see improvements in Abule-Egba area with how they cleared up Pen-Cinems and I don't know who built the over head bridge at Oko-Oba Market

Iju Road is now OK-ish, but Fagba around the railway crossing is still a horrific mess.

Succesive APC Governments have quadrupled down on the divide between Island and Mainland with their blatant elitist gentrification policies.

Mark my words, they are going to declare Lagoon/Lekki state in the not too distant future.

Spy360:
Between this lie and Yakubu's technical glitch I don't know which one is bigger.

Amigoss:
Innocent people in the community just suffer/die for nothing for the greed of this few

Na the freedom fighters they call themselves dey vex me,fighting and lining up their pockets not the betterment of the oil communities and the region....

Amigoss:
Kindergarten and primary school ooo,How much this kain parents go dey make per month and some might have 2-3 children....

Heard it is Charter House, Lagos...

iamoyindamola:
https://www.nairaland.com/8063055/hidden-truth-led-killing-17

Looks like army ain't clean either

CrystalTiger:
Na to buy popcorn relax to watch this movie..

iamoyindamola:
Movie

iamoyindamola:
The hijacking of flight 601

DeadPresidents:
We know all those Lamba. All of una wey sabi book for Uni dey use that avenue collect all the babes back then. E get one of my guy wey use Engineering Drawing finish work for class that year for babes wey no sabi anything

Tony Kabaka don turn Musician oo.

Area Father himself 😂🙌 pic.twitter.com/ilQEN6FdCA

— N⭕️sa (@etinosirrr) November 10, 2023

Olowunl01:
Oga oo, well sha people are different, cos not everything should make it to social media, the father could have jejely done his research and if true put the foolish pastor mercifully in a wheelchair for the rest of his life, to unalive would be doing him and his family a favour.

iamoyindamola:
I will check tomorrow
Out of office today

iamoyindamola:
I saw someone older than my grandfather in camp this man still claim I am older than him because I helped him with his documents
He can't read or write(not old age now) but how did he graduate
Another girl couldn't write her name, she was even sent out of the camp because there's no proof this one pass through school at all
There's no way you wouldn't see terrible things during nysc

Unlimited22:
At least, the basics of literacy and numeracy now...

My first day in camp I had to fill form for someone who was also a Prospective Corps Member.

Me that was waiting for my license to arrive so I'd even be allowed past the registration desk, worried and exhausted after a journey that began by 8am the previous day.

Nah, NYSC go show you things.

Why Food Prices Keep Increasing Despite Recent ‘Stable’ Forex - Daily Trust 14th March 2024

In recent weeks, efforts by the Central Bank of Nigeria to arrest the free fall of Naira have seen it appreciate marginally against foreign currencies especially the dollar, leading to relative stability in the forex market.

Despite this, prices of many essential commodities – especially locally-produced ones – have not dropped, against the expectation of many Nigerians who thought the food prices would drop as the naira gradually recovers.


Experts have observed that the marginal gain in naira against the greenback might not necessarily translate to reduction in the prices of imported goods considering that the Central Bank of Nigeria (CBN) on February 14, 2024 increased the exchange rate for computing Customs duties at the nation’s seaports by 2.6 per cent — the fifth increase this year

The rate was reviewed upward on from N1, 444.56/$ to N1,481.482/$, according to information obtained from the official trade portal of the Nigeria Customs Service.

This means importers will pay more to clear their goods as import duties are benchmarked against the dollar.

Mika’il Abubakar Garba (aka Bala Mai Kaji), the Chairman of Muda Lawan Market in Bauchi, argued that supply shortfall occasioned by border closure and other factors were responsible for the increase in food prices.

He said, “I don’t agree that merchants are hiding under the guise of dollar-naira issue to increase prices of goods. What I do know is that some merchants increase prices of their old stocks as soon as they learn of price increase from the companies they buy their goods. Their argument is that if they sell at the old price, they will not realize enough profit to restock.

“We can’t deny the fact that there are few merchants who buy and store products when they are cheap and sell when prices are high. But by and large, the issue is that, our domestic production in the country is not enough and yet the little that is produced is sometimes exported to other countries. Usually after harvest – when produce are available and cheaper – companies and other business moguls buy from farmers to either export it out of the country or store it for selling when the supply is less at the market and the prices are high.

“You see, when you have limited supply and high demand, prices will definitely go up. With the borders closed, it means there will be less or no competition to neutralise the price in the market and break the monopoly enjoyed by the few that wield power at the markets. I assure you that if there’s importation, the price will crash and remain relatively stable.”

Mai Kaji, however, advised the government to reopen land borders, allow importation and force companies to bring out their stored commodities to the market to meet the country’s demand.

“Government should just come out and help people by allowing importation. There’s no point in allowing exportation and then stopping importation when what we have in the country is not enough to meet our demand,” he added.

An economist and senior lecturer, Dr. Yahaya Yakubu, cited supply rigidity, structural problems and border closure as some of the factors, leading to less or no reduction in prices of goods and services even when naira is gradually appreciating at the global market.

He explained, “First of all, it is important to understand that the Nigerian economy is an import dependent economy in terms of manufacturing goods. If you have an import dependent economy, your economy is vulnerable to volatility of exchange rate, so whatever happens to the exchange rate, the economy will be affected whether positively or negatively.

“In a developing economy like Nigeria, we have what is called structural deficiency or supply rigidity in such a way that if there’s a break in supply of a particular commodity or if there’s a change in the cost of production of a particular commodity, it will easily affect the prices of goods and services.

“But because of inconsistency in the supply, consumers will hardly see the changes or reduction in price even when there is reduction in the production cost. Our own economy has certain peculiarities in that hardly will you see prices coming down after surging up, and one reason for that is the structural problem we have in the country.

“That is why I always insist that the government should be very careful in making pronouncement or taking policies that will shoot up prices, considering the effect this action has on the economy.

“During the tenure of President (Muhammadu) Buhari, for example, there was a policy pronouncement that the government was going to ban the importation of textile materials. From that pronouncement, the prices of textile materials surged up, and the government was unable to revitalise the domestic textile industry due to certain structural problems.

“Look at what happened also when the current President made a policy pronouncement about fuel subsidy removal during his inauguration. The price of Premium Motor Spirit skyrocketed. So it’s always good to understand the ‘workings’ and peculiarities of your economy first before making such pronouncements as they have impact – mostly negative – on the economy.

“If we have consistency in supply, free flow of supply just like the developed economy where production is consistent and heavy, production is efficient and going on at any time, then time lag of changes in price will be less; that is the time it will take before the prices of goods and services will come down when they go up will be less.”

The expert further explained that closure of land borders was also compounding the issue of food scarcity which ultimately led to increase in price.

“If you close your borders, you are compounding the problem of supply in the system. For example, the current domestic rice production capacity in the country is not enough to meet the demand of the population, and therefore we need about 2.5m metric tonnes to fill the supply gap.

“The only way you can make up for the deficiency is by interacting with other economies through importation. When you close the border and allow certain individuals to import goods, you’re creating a monopoly in the system and so they will control both the supply and the price. So, we have to open the economy and enable competition so that adequate supply will force the price to go down.”

Ibime:
NOUN should be prosecuted for that!

TemporaryHansel:
Will a war between Israel and Iran make the dollar go up? Abi it'll go down? Just curious ...

monerozi5590:
He should explain to the authority how he got his unexplained wealth if your gueses is what really happened.

I will remain silent. Emefiele upgraded my life and I will remain silent. He even coming out to say Emefiele didn't say " take this ' as if he knows what the money is meant for says a lot about him

monerozi5590:
If that's the case, then the man should deal with his own crime instead of coming out to say this and that.

.... because according to the testimony the man can just decide to remain silent.

You are working in the same organisation, your boss asked you to go and collect parcel for him. You did and later on, your boss is going through trial. Will you also be charged? Lawyers in the house, please I need your input on this.

monerozi5590:
The man can just decide to shut up and nothing will be done. His job is to collect SOMETHING for his boss. He doesn't know what's inside the envelope incase he is ask what's that SOMETHING you do collect for your boss.

He even said he collected money for Emefiele and Emefiele never said TAKE THIS. Just look at the ingrate.

Emefiele is a big name in the Nigeria context. Does he think Emefiele will rot in jail for testifying against him. How many big name/ politicians the go jail for Nigeria sef. Highest dem go do 6 months to one year and dem go release them on bail. They are all corrupt and are walking freely in the society, In fact some of them are currently serving as ministers and senators.

iamoyindamola:
They should tell Kane to bottle the match

Odunharry:
Lol na the loud make he take na dey ginger..

After getting thrashed 4-0 by Newcastle, Tottenham's Champions League hopes will be boosted by:

▫️ Arsenal beating top-four rival Villa Sunday
▫️ Arsenal beating Bayern in the UCL to help England's UEFA coefficient for a fifth spot

Awkward... 💀

Source : Bleacher Report

Ibime:
Okafor is still in shock

Well the boat driver is still culpable because he was wearing headphones and never heard them warning him about the canoe in their path, however he would have seen it if Okafor wasn't standing up

Ibime:
How will TC Okafor that doesn't know how to swim and in a state of great panic save the girl?

I'd rather believe the driver who probably carried the girl to the hull of the boat to hang on, which is where TC Okafor was holding onto the rope.

TC Okafor that alleged he was nearly arrested because the boat driver told Police he was standing at the bow of the boat obscuring his view of the canoe, and denied he was standing. Meanwhile I've since seen many videos of TC Okafor standing like below. Anything TC Okafor is saying is in doubt due to his panicked state of mind, plus he even confessed using N20k to buy loud at the end of the movie shooting