ok lol

TheDevilIsALai:


The banks will rather borrow states than you from where the governors will convert it to forex (thereby putting more pressure on the naira) and stash it in Swiss vaults.

Speculative assumption sir

Any evidence to back up your assertion?

I would imagine that there would be a more vibrant oversight to solidify and ensure the policy direction

okosodo:
CBN is very funny. Wether they devalue it or not, the effects have started. This is what you get when a cow is a president

You have not made any sense sir

Instead of name calling, try and construct an argument

Lalasticlala, this is FP worthy

I love this

This is exactly what we need

Reduction in interest rates should help SMEs.

End of importation culture is crucial

DeLaRue:
Please can I add that, this period is a preiod of profound opportunity for Nigerians. You dont even need to be brilliant at identifying opportunites. The opportunities are right there in your face right now if you care to open your eyes.


If you are looking for ideas for small scale investment, please go to shoprite if you have a free 30 minutes on your hands this week. Just spend that time walking around, look at prices of imported commodities which can be easily (well, if you are determined) produced to at least 95% percent of the quality of imported varieties.

The truth is, it is only a matter of months before shop rite start feeling the pinch and dropping several of these imported products and turn to local producers. And its not just Shop rite. Many medium to large companies are in the same situation.

The opportunites right now are massive.


Whether you like Buhari or not, please leave that aside for now. See how you can take advantage of this FX policy.

Exactly what I have been saying.

I can bet my life that a lot of people are ready to take advantage of this policy direction.

However, I have to criticize the Buhari government for the lack of explaining the policy in open terms

It is still a bit hazy.

They have to explain this to the business community and assure them that it is long term strategy and not something they will discard in a few months time.

If they do this, I can assure you that a lot of people complaining will start aligning themselves accordingly

There is an information gap right now

DeLaRue:
I was at shoprite in my State on Friday and decided to take a look around their vegetable stand. I was shocked!


There were 3 baskets of tomatoes.

Basket 1 : beefsteak tomato (produce of Nigeria) - N750 per kilo

Basket 2 : beefsteak tomato (label says 'imported') - N1030 per kilo - exactly the same as the ones in basket 1. The only difference was the label.

Basket 3 : Roma (like the ones from the north) - N750 per kilo.


Why would shoprite import a tomato that is exactly the same as the local produce they also had on display?


I walked further down the veg isle, only to see Cabbage imported all the way from Spain. Again the quality was no better than what the Northerners or indeed anyone can produce in Nigeria.

By the way, all the tomatoes in this particular Shoprite were mushy and near-rotten...and I wondered why? Where is the much vaunted Nigerian middleclass who we are repeatedly told are so awash with cash they would buy anything at whatever ridiculous price?

When I got home, I saw a small pack of tomatoes (about 1.5 kg) freshly brought from the market. I asked my wife how much she bought them for - she said N100!. That's roughly N75 per kg, yet Shoprite is using our scarce foreign currency to import a tomato that is not much better to sell for 10 times more. And no one is even buying them...so it seems as they were mostly rotten due to no takers.


It's a crazy country.

This FX ban is one of the best things to happen to Nigeria. I am sorry for the importers obviously, but this is a time we all need to make a sacrifice and think about the future of this country rather than how much Mr A or B can make from importing things we do not need.

Interesting sir

This is the exact reason why we should support this policy

Quite enlightening

mekaboy:


Have their products met local standards talk more of international?

Good question sir

Believe it sir, some locally produced commodities are just as good as those sourced internationally. We just have a mindset in Nigeria that debase local products. It is an attitude problem

On the whole, The local producers have not had the opportunity to benchmark their output with imported equivalents. They now have the opportunity to do so and make the required improvements-if needed.

Boss13:


Our products are currently cheap. International buyers are not complaining.

Let me tell you. Immediately the CBN devalue our currency, these FX speculators will jack the price to N400/dollar. They are only interested in the margin they can make and because we have desperate importers, whose goods already have been blacklisted by CBN, looking for dollars, they will purchase at any price to pass the cost to the consumer. Now, as a rational individual, if there is a competing local manufacturer, would you not patronize the manufacturer because his product will now be cheaper?

Bros most of your argument is largely speculative.

The export market will become even more vibrant if the goods become cheaper at the international market. Surely, buyers will always go for cheaper alternatives.

As long as the current policy encourages local production and improves quality and capacity, it will offset any near term problems created by speculators who might try to take advantage.

We can no longer continue to import more than we export. The current world economic model punishes import dependent countries and rewards those who are able to optimise production that meet local demand and creates export opportunities. Of course, we cannot produce all our wants but the majority of commodities can be locally sourced. Importing Chicken, eggs, toothpick, paper, rice is foolish and daft

Remember that I mentioned that the policy is aimed at ensuring a behavioral change. I dont care if these importers become bankrupt. Importation should not be a career but should be utilised to facilitate local production through the sourcing of equipment, spares and some raw materials. When the sector is made up of people who import to drive demand of goods that can be made locally, then it becomes problematic.

porka:
Which policy again?

Is it the same one that is being reversed?

How will they cope when the naira is finally devalued by the CBN?

If the CBN devalues the Naira, then it also presents opportunities for local producers to export their goods as their goods will become cheaper at the international market.

Jorussia:
The CBN Forex policy will definitely promote the fortunes of local manufacturers, but the fortunes of importers have nosedived this past few months that CBN started the policy. In my own opinion, i think the CBN should relax the policy in order to accommodate the importers,since we still import most of commodities that we consume as a nation.

This policy is aimed at correcting that behavior.

We cannot be importing most of the commodities we consume. It is unsustainable.

Those importers should start producing those commodities they import.

How can you be importing toothpick, plastic bags etc?

I support the government on this

Buhari is exactly what Nigeria needs right now

No matter how good the intentions of a leader is, the vested interests in the country will frustrate any policy to stop import dependence culture.

Only a ruthless man like Buhari can withstand these vested interests.

It is very painful that as of 2016, we import plastic bags, toilet rolls, and toothpicks.

A culture that encourages the importation of used clothes rather buying new locally made ones is not only unsustainable, it is very foolish.

We will not see the effect of this policy in the short term but in the medium to long term, we will start reaping the benefits through job creation, foreign and domestic investment in local production capacity and a general behavioral shift.

I support the president in his effort to revive the local economy. It will be initially painful but the outcome will be pleasant


CC Lalasticlala please share the news.

madetayo:


You said it all bro,was at the National stadium,Lagos for the Immigration thing and I gotta tell you if not for the tenacity & the survival instinct of Lagosians, Lagos state would have recorded more deaths than any other state in the country. Still think it's high time Abba Moro is investigated

To my mind, I will place Abba Moro on the same category as Dasuki

He is a wicked man and so are all the people that collected all those moneys from innocent job-seekers

Nowhere in the world does the government collect money for job applications

Thank God you survived the ordeal and may those who died RIP

I will be shocked if the government proceeds with the project

It makes no economic sense. Oli prices are plummeting and I dont see a recovery in the short term and even in the long term, the world is gradually moving beyond oil and unsustainable energy.

The government should focus on more innovative projects

ahckmedkosy:


Do you have evidence that Lai is telling the truth

No I dont

But I dont have any evidence he is lying either

What normal opposition parties usually do is to carry out a fact finding investigation and analysis to establish the facts

anonimi:
When will Amaechi be sacked for stealing Rivers' people's money to bankroll Buhari nomination over Atiku and his campaign
We are not FOOLISH zombies oh ejoor!

Always talking off-point

ZKOSOSO:
Can any good thing come from LIAR Moh'd?
NO!

400 staff......
400,000 Each.......
Only one paralstatal?

APCLyingBastard indeed......

Criticism is good but you have to back it up with facts and or figures

If you dont have any alternative version of a particular claim, it is illiterate to dispute it on the basis of a hunch.

Do you have any evidence that Lai Mohammed is lying?

Sanity gradually returning to the Nation.

If not for man's wicked heart, why will you scam jobless people while you have a salaried job yourself. Some people are just damn wicked.

I'm shocked that- Abba Moro the Minister that swindled thousands of Nigerian Youths and whose actions led to the death of innocent job-seekers is not facing charges under this administration

Buhari has a lot of work to do in this country. We need total institutional reform

More time for action and less promises please

When I said it a few weeks ago that under Jonathan, almost $100 billion was misappropriated, I was attacked by Jonathanians but this is now official confirmation.

It is so pathetic that Jonathan is still roaming around freely. He presided over the greatest heist ever recorded in Africa.

LordAdam:


A. I have proven my statement about PMB's reckless borrowing.
B. Polio was deemed to have been eradicated under his administration. Don't be a hater.

GEJ did not embark on any environmental project in his own state, but constructed more roads than any other president in the entire nation. That is selflessness. Try harder, child of hate.

Now, everyone can confirm that you are an IDIOT. Get lost!!!

-Lord

Abusing, yelling and name calling will not stop me from addressing and refuting your lies

GEJ did not embark on any environmental project but rather spent billions to support the ministry of Tombolo and Asari at the expense of the welfare of Bayelsans

. If he spent half of the monies given to these men on cleaning up spillages in Bayelsa, the lives of Bayelsans will be better

LordAdam:


Don't be quick to prove your idiocy. I was gathering high profile links for you, now that I have, look at my previous reply again.

Believe it or not, those are the kind of trains Nigeria can afford. Look at the kind of world-class trains you want. http://www.latimes.com/local/california/la-me-bullet-train-cost-final-20151025-story.html. The bullet train rail network between Los Angeles and California (only two mega cities) will cost $68b and is expected to be finished in 2022 with possibility of that figure rising more.

Nigeria's total budget for 2016 is $31b
Nigeria's total budget for 2015 was $24b

Uninformed educated illiterates like you wishing to travel to the moon in keke napep.

So GEJ is now a contractor abi? Would you also blame him for the SCOAN building that collapsed.

I don't have anything to argue with you. The man is enjoying his time off, I am enjoying my vacation, keep waiting.

-Lord

For someone calling others illiterate, it is a bit rich that you are editing your posts after I quoted it. Sorry I put you on the spot. You sound a bit ruffled up

You can make your points without name calling and hurling abuses.

No. I did not ask for World class trains. I am simply asking for affordable light rail facilities that will encourage inter-modal transportation in Nigeria, secondly, an electrification of rail tracks will not cost Nigeria its entire budget.

Buying locomotive trains that are being scrapped in other countries is disingenuous and part of the corruption GEJ engaged in

Giving examples of the most expensive train project in the world is just nonsensical

@ Your point about Polio eradication. That is another smokescreen and lies

The eradication of polio was the effect of years of efforts by different admins

The AID money I was refering to is in relation to poverty alleviation measures. GEJ and his government simply enriched themselves with monies given to him to help the poor in his country

GEJ did not embark on any environmental project in his own state, he simply enriched the gangsters at the expense of his own people

Shame....

LordAdam:


Not this reserve thing again. Madam how much deficit will we run this year? In excess of 2trn.

What is our current growth rate? 3% down from an average of 6% for the 5 years Jonathan was in government.

What money do you think he would have used to keep the nation's engine running? The growth rate and speed of development under GEJ could not have been achieved if he simply saved money rather than use it.

Look at PMB that has been saving money, what has been happening to the economy? Has it fallen or risen?

If you are a Christian, what do you learn from the parable of the three servants? What did the master do to the servant given 1 bag of silver?

You are talking about misappropriated funds from International donors. If he misappropriated funds so much, how did he eradicate Polio?

Jonathan looted more than IBB, the man who legitimized corruption in Nigeria and ground Nigeria's economy to a halt? Or OBJ, whose only tangible achievement was to introduce GSM into Nigeria. How old are you?

Jonathan is the best ruler in the history of this nation. Was he perfect no? But his legacies have already been applauded by his enemies (Amaechi, Fashola, et al). They are so significant that seven months after leaving the seat, the country is still running on autopilot on his policies.

Your brain needs to be formatted.

-Lord

Mynd44 take note of the bold

@ Topic

I asked for answers from you and not a sermon or bible lecture.

You conveniently ignored the part where I asked for evidence of your claims about Buhari's debt profile for 2016 is larger than the last 10 years.

You must be one of the few that benefited from the growth and development from GEJ. You know that a lot of high school drop outs became overnight millionaires after they got contracts to ship crude.

Commissioning of locomotive trains that most countries are disposing and recycling because of its GHG emissions is what you call transformation.

His administration spent billions - wait for it- "remodelling" Int Airports and yet 3 months after, the Enugu Airport turned into an Olympic swimming pool.

GEJ means a lot to you and so you would support him even in the face of outstanding evidence of misgovernance and serious corruption allegations.

Even if all that GEJ stole was $1billion, he has to account for it and return his own proceeds from the theft that occurred under his watch.

LordAdam:


Bros/Madam you know how much be $100 to $250 billion?

As GEJ implied in America, those quoting figures are brain dead.

The entire budget for the 5 years he was president was around $120 billion, are you saying he looted everything and spiritual money as well. What money did he then use to pay workers, oil subsidy, build more roads than any president in the history of this nation, revitalize the rail sector, improve agriculture?

Before you say borrow, do you know that PMB is planning to externally borrow in one year more than 30% what three ex-presidents borrowed in 10 years?

Brother, receive sense!

-Lord

How much did Jonathan meet in the foreign reserves and how much did he leave there?

Abacha's loot was returned to Nigeria from Swiss and South American banks in tranches . The $2.1 billion Dasuki Gate was just one of them. How much was returned, do you know? How were they spent? do you know?

The level of corruption under Jonathan was mindblowing and extra ordinary and it really means a lot if there is evidence that Jonathan was more corrupt than Obasanjo and IBB

Nigeria gets AID money from International donors, most were completely misappropriated under GEJ

The figures I quoted were speculative but the real figures wont be far from it. It was that bad.

As for your claims that

Before you say borrow, do you know that PMB is planning to externally borrow in one year more than 30% what three ex-presidents borrowed in 10 years?

Do u have any proof to support your claim? On the one hand you start cursing and abusing that America will know how much politicians are stealing in Abuja but now you now make proclamations without evidence, or is America your source?

Where is the evidence that Buhari govt debt profile in the next financial year will be 30% more than in the last 10 years?

Lies.......

Ugomba:
LWKMD

rose2014

You can use those images to cover up the pain in your heart as much as u want

The truth is this: Ijaws within the space of 5 years have overtaken Igbos as the third most influential ethnic group in Nigeria. With a stroke of genius, they manipulated, disgraced and mentally oppressed the Igbo political class.

Reality has dawned on you now. Ijaws are not a group of senseless people that are always seeking confrontation. Their son lost an election and they got over it within weeks while Igbos are still crying till today. APC is dragging it PDP in Ijaw heartland - Bayelsa- what a shock! Not really, Ijaws are not Igbos, they have learnt their lessons and know never to put their eggs in one basket.

What is so funny right now is the fact that a man that called APC an ewedu and amala party is now begging to join the same party

That is what is funny. Greedy, ideologically deficient people who fights with every one in the world.

Love Machine:
Google buhari made asset public.Then read the full public asset declaration story on vanguard newsonline.

So you not provide the proof?

I asked for proof not for google tutorials.

You made a very specific statement:

Even buhari who is seen as incorruptible,got 2 bullet cars and lied that it was his entitlement. Whereas in his asset declaration made public,he wrote that he got 2 jeeps from well wishers as a replacement of the ones that bokoharam suicide bombers damaged .So,who is fooling who?

Can you provide evidence to back up your allegations here?

christopher123:


It is simple ..the outsider just can't compete with the igbo ...OK lets assume that the Yoruba man wants to open a shop in Aba to sew will he compete with those hit Aba boys

OK let's assume that the ijaw wants to sell fish ..will he compete with the rivers igbo man or riverine anambra man

Igbo land is open to business and we still have strangers like hausa and suya business with forex while Yoruba are into agbo herbs and some taxi business the efiks are into cooking


It's just division of labor

If u can compete come over

Tonychristopher

If Igboland is as prosperous as you described, why did you run away from the place and now reside in SW Nigeria for the last 10 years?

oduastates:
That mistake is believing that those afenifere folks have anything to offer and that they were anything other than power hungry , morally bankrupt and corrupt old men.
Do you see anyone of these old men coming up with the eko atlantic idea?
I want to believe that the parents of most nairalander , the age of these old men, have retired peacefully into old age and have left the scene for their children to take over.
If at their age, they have no fruit to harvest because of hey have not planted any seeds, you should not expect anything better.
Many omoluabis have been lucky to catch a glimpse of the world beyond our narrow borders Even our best are not good enough.
These old men so dated and they not only do not belong to the present, I also doubt their offerings are good enough for the yoruba nation of the 16th century.

Just read what General Alani Akinrinade has to say about them

former Chief Of Army Staff Under Gen. Ibrahim Babaginda, General Alani Akinrinade (retd) has condemned the endorsement of President Goodluck Jonathan by the pan social-cultural Yoruba group, Afenifere, describing it as disgraceful, self-serving and an embarrassment to every Yoruba living or dead.
The Former Minister of Transport is quoted by PM News saying; “if this old men that are shouting marginalization a few months ago, can sit today to endorse the same man that is marginalizing them, then their brains need medical examination.”

Alani Akinrinade is a GREAT YORUBA SOLDIER AND A MAN OF VALOR

Afenifere are a group of old corrupt, shameless men and women.

Love Machine:
When dasuki was distributing the $2.1b arms money,he didn't say the money was meant for purchase of arms.However,there is no nigerian that would have rejected that offer.Even buhari who is seen as incorruptible,got 2 bullet cars and lied that it was his entitlement. Whereas in his asset declaration made public,he wrote that he got 2 jeeps from well wishers as a replacement of the ones that bokoharam suicide bombers damaged .So,who is fooling who?Just as other beneficiaries are arrested and detained,buhari should follow suit.

Please can you provide proof of this?

This is not a beer parlour. Evidence sir

Wind is blowing and which has now necessitated the opening of .....

It is a shame that men that in their late 70s, early 80s like Olu Falae and Segun Osoba can still be engaging in corrupt practices. What legacy do they want to leave their children, grand and great children?

These two men are billionaires courtesy of the Nigerian state, Falae was Minister of Finance while Osoba is a two time Governor, Osoba even ensured his son Olumide became a HOR in the NA. Yet they are not satisfied.

Shame................

Jonathan has a lot to answer for

I'm in full support of the submissions by SERAP. We can no longer continue to shield Jonathan under the pretext he is an ex-president.

Revelations so far indicate that he may be Nigeria's most corrupt leader ever.

For those who are not following, the Dasukigate $2.1 billion debacle are monies recovered from the Abacha loot. So Jonathan authorised the looting of recovered loot.

But this just a tip of the iceberg, remember that investigation into the $17 billion misallocated by the NNPC as reported by the ex- CBN governor has not started yet. By the time they collate looting from NIMASA, NNPC, NPC and other government agencies, the total monies looted under Jonathan will be in the region of at least $100-$250 billion

I think it is time that GEJ and Okonjo Iweala are called in for questioning.

Ugomba:
leave the fool.
They have an agenda and I know that.

Mechionu gi there

Why do you want to create enmity with every single ethnic group in Nigeria?

Are you wired to be a nasty set of people?

Shame.....