₦airaland Forum

Category1:
[size=13pt]i'm so angry that LAGOS wasn't a well planned city.
before the creation of Lagos, all these stuffs should have been jotted down...so pple ain't going to build houses illegally, and now that the Lagos state government is planning to demolish a whole 800 Houses(no be beans now) to make pple poor and homeless?

Haba!. Ambode needs to forget that bridge abeg, 800 houses ke?
How can the poor be getting poorer? This ain't possible. [/size]

800 households can not hold 20 million lagosians to ransom. Sadly, the shanties /homes must be pulled down for greater development.

Kk4:
Okay. Thanks alot
Please, how much were you charged? (in naira)

91k for 322cad, the amount is not static, it varies with your financial institution and prevailing exchange rate.

Kk4:
But they both CLEARLY stated that debit cards are NOT allowed.. please which body allows debit card and how long does it take to get evaluated?

Go ahead and pay with your debit card, if it is enabled. I paid for WES evaluation with my debit card.

4Play:
Yes, a government that cannot successfully provided basic amenities as you admit will somehow successfully suspend the laws of demand and supply. The irony is lost on you. If you maintain a fixed exchange rate regime, the Naira will end up at N500 to the 1USD anyway. We have been fixing currency rates since the inception of the Naira and yet here we are today with the Naira at N320 to the dollar.

To what extent does suspending the laws of demand /supply determine provision of amenities?

When did we start having a sharp disparity between the naira at cbn rate vs naira at parallel rate ? Throwing it open to market forces would make things worse, costlier to build infrastructures and even kill the few manufacturing industries we have locally.
case study of SAP devaluation of naira didnt help the economy , it made it worse, many manufacturing companies closed down during that era, because the basics were missing. i bet you would have argued SAP devaluation of naira in the 80's would have encouraged exportation.

You need to think deeply. lateral thinking at all times is dangerous. You dont ask lobi stars fc to start playing uefa champion league, it would get his ass thoroughly whooped, except you have bought standard and exposed above average players.

Haute:
I like how he expressed the output in litres instead of barrels. Insulting our collective intelligence.

it is crude oil that is typically expressed in barrels. he is talking of petrol , a derivative of crude oil.

Lewisj:
"true face of opposition " that's the part I admire about him though. teaching them to have "sense ".

you cant give what you dont have. Fayose does not have the intellectual capacity to be a true face of opposition.

A true face of opposition that wants to be effective must be an intellectual though thug like. Fayose has one arm missing, politicians like him flourish not in opposition politics, i classify him in the level of the Adedibus.

mostyg:
Mr Governor sir,
May I use this opportunity to welcome you back to Nigeria from China.
Sir, please be informed that while you were away I have developed and packaged 'Ewedu' powder (Jute leaves ppwder) for export to China. I believe this product will boost our foreign exchange.

Sir, our business deal with the Chinese should not be on importation alone, let us export our goods to them also.

Mr . Governor sir, I will appreciate if you could link me up with some Chinese investors you met during this trip of yours

Thank you.


Regards.

Nice one, although i think ewedu should be jews mallow , how did you come about the jute ?

4Play:
A gradual devaluation is the worst of all possible worlds. If the government gradually devalues the currency, that will feed a speculation frenzy as each devaluation is taken as a signal that more is in the pipeline. If investors know for certain that the Naira is going to be devalued, they will speculate accordingly excacerbating the Naira's fall. Each devaluation will push the black market rate further away from the official rate.

The best bet is to give up fixing prices by fiat, let market forces determine the price. The longer you leave it, the wider the gap between the official and the black market rates. In the Abacha era, the CBN fixed the official rate at N22 whilst the black market rate hit N85. Well connected people made a fortune from round tripping (that is where we are headed to if we don't eliminate this Abacha style exchange rate regime).

You are also overestimating the government's capacity to select winners and losers. This is a government that cannot provide fuel, water, electricity or even draft a budget in time. Restrictions on imports create bribery opportunities for our border agencies and such a resort to aurtakic policies have a resounding history of failure.

The said thing is that we act like what we are experiencing are policy innovations in Nigeria when we have already been through fixed exchange rate regimes and import-substitution policies in the 70s and early 80s. These policies did not industrialise Nigeria, they created economic distortions which facilitated our economic collapse in the 80s. These zombie ideas - ideas that should be dead and buried - gain acceptance in Nigeria because Nigerians are not keen students of history and our demography is dominated by youngsters who did not experience these dire policies at the time.

I did not ask for gradual devaluation, i only said gradual exposure to such market forces, a govt that can not refine its crude oil and throws the naira to market forces is wicked. We are not ready for competition, the naira would be outclassed. If you throw Naira open to market forces and it gets to say 500/usd, are you aware that litre can cost as much 300-350 /litre . Do you know the reverberating effect that would have on the economy of the nation? Lets fix the basics like local refining and power supply improvement before thinking of market forces determining exchange rate of naira. One has to to be wicked or naive to suggest that.

GworoChewinMaga:
As things stand now, the little manufacturing base you have is owned by western conglomerates who are using the devaluation policy to buy up cheaply your nation.

As I said the key is promoting local business manufacturers.

And you can never achieve that in this atmosphere of mediocres in power

Well this current govt is notch better than the former. It has refused to 'suck up to the west' , it is weathering the current storm better than the previous govt would have done.

GworoChewinMaga:
This is why I supported the removal of fuel subsidy and also the deregulation of the down stream sector that could only come to pass with the passage of the PIB.

You see how we are light years ahead of you zombies.

Well, there was partial removal of subsidy. 65 -97naira, where is at least one single refinery that was built by fg of the immediate past in an oil boom era?. Instead of sure-p , which was more of sure fraud, if the govt had built at least a refinery in 3 years after partial removal of subsidy, the naira would not be this distressed. We are using close to 40% of our forex to import refined oil.

GworoChewinMaga:
This is the catch 22 scenario.

For you to begin to export consumable goods you need the right leaders who will not suck up to the west.

The triangular trade doctrine is still in effect in place since the Europeans made it to our shores.

We must not have leaders that will turn our nation to a dumping ground and also aggressively follow an industrial policy and to achieve this we must put mediocrity behind and put meritocracy as our guiding light.

If Adamu insists on laying around reciting the Koran then he should be made to understand the opportunity cost of his choices.

Well, the 'west' wants us to devalue the naira. Is that what you want?

GworoChewinMaga:
At 500 to a dollar how many Nigerians will go for imported goods?

This is the key. Because if you discourage imports you don't necessary discourage the demand for such goods and as such businesses will spring to fulfil the demand.

You want a Givenchy suit at $2,000 but Rashidi can make same for 12,000 naira.

That is what places like Aba are doing

should naira becomes 500 naira to a dollar, Since we import refined oil, are you willing to pay 3 times more, what you pay for a litre of petrol say N300-350/litre? .

Are you aware the nations foreign debts will also rise in geometric progression?

GworoChewinMaga:
We must as a matter of urgency balance our deficit trade balance.

We export only crude and raw materials and in return basically everything else.

For us to begin to be a net exporter we must reduce our net imports.

The truth is that Nigerians do not deserve the life style they are living.

You basically produce nothing and depend on oil revenues shared through your corrupt governors to remain in existence.

The Nigerian policy is tantamount to a yeast culture where you consume and reproduce without recourse to the limited resources at your disposal and just like all yeast cultures when the food source is completely consumed, the culture dies out.

Nigerians should begin to wean themselves off the over dependence on free oyel money and this is why I am a staunch advocate in promoting cocoa and grounding plantations in the sw and North alongside any other cash crops you can scratch off your lands.

It's time to get back to work.

Yes, we must focus on exports, but the exports needs to be more of finished goods, and not raw materials. Instead of exporting cocoa seedlings, we need to export chocolates !, Instead of exporting dried cassava, why not packaged garri ?.


Then atop of all, we must stop refined oil importation at most in the next 2 years, it is consuming over 38% of our forex

Nigeria's refineries should be privatised, i am aware the nnpc has received 9 bids from companies willing to set up new refineriees on the site of the current ones, in my opinion, they are moving slowly.

4Play:
You diagnose the problem as importing too much but insist that we should keep imports cheaper (not allowing the Naira fall makes imports cheaper). Therefore, don't you recognise fundamental inconsistence in your analysis?

No, it must be gradual, throwing the naira /usd to market forces at one go is not advisable, the policy on forex restrictions to certain goods that can be locally sourced immediately is better, as the outputs of efforts to produce some goods locally begins to increase, those goods can be added to forex restrictions e.g Rice.

GworoChewinMaga:
Must you continue to import?

Devaluation will make our market look inwards and provide much needed foriegn investments.

This is how China, Korea and Japan developed.

We must begin to look inwards.

Even if we have 2 trillion dollars in reserves it will dry up sooner or later since we import everything including the kitchen sink.

Every country imports, but there must be an export base of finished goods , apart from raw materials.

In my opinion, throwing the naira to market forces will throw the Naira to 500 /usd in a twinkle of an eye.

GworoChewinMaga:
Devaluation means subjecting the naira to full market forces and not by the CBN.

Or was the naira officially trading at 220 as at may 29 2015?

Subjecting the naira to market forces is even a worse attempt, the forces will be against the naira for now, we are a consuming nation that imports too much, and only exports raw materials. When we activate our industrial base massively, we can throw it open.

Same thing i have argued, devaluation of naira will not shrink the parallel rate, it would get worse.

maestroferddi:
You have time for all the half-wits making noise all over the place...


The so-called text message, if it actually emanated from the senator, can even be interpreted or understood in many ways.

She did not explicitly state that she bought votes but stated that she paid all the way.

She could easily refer to the money she spent obtaining the declaration of intent/nomination form or money spent lobbying the party caucuses both in the state and at the federal levels.

The question will then be whether those practices are not almost normative in Nigeria...

stop trying to be clever. If i as a politician tells you 'your votes for me was not free, i paid all the way' , it is this unintelligent and worthless analysis you will come up with ba?

dukie25:
Waiting to hear from Bubu who got 2mil votes in Kano.

2mil votes in Kano and none was declared void.

stop lying. Your lie is quite easy to disprove.

Joel3:
...In mathematics 2 (weight) is bigger than 1 . there for it possible. is this supposed to be news?

Where did u study your own maths? 1 weighted item may be bigger than 6 combined weighted items

I wont be surprised if the news is true, that bello guy looks like a shallow fellow, a 40 year old educated man already with 3 wives. The painful part is that he is a youth, who should set a standard of excellence in governance for the upcoming youth.

so 10 months old governors have already qualified for second term, i think whoever drafted this list needs to grow up.

I would love to see jobs created from this venture, enough of civil service jobs creation that are barely productive.

It is a shameful toga when a state is described as a civil service state, i hope the state loses that tag of civil service state.

That is a monkey or a member of the primate family

Ben bruce a senator from Bayelsa was busy deriding osun state workers some months back by offering his salaries.

Where is that man who lacks what he preach sef?

CFCman:
I've read stories of people that registered for the card, and 2/3 years down the line, they haven't received theirs. It's a big shame that the FG can't manage such a simple task. Ideally, ID cards should be available within 3-4 weeks after registration.

i registered since mid 2014, card not ready yet. It is quite shameful, the 2003 card registration exercise was also largely a failure, as barely half of those registered got their cards, and it had lots of errors.

lastpage:
BAD idea!

if this is how PDP plans to rig itself into office, it is "Dead On Arrival".

National I.D card does not have all the Biometrics and Security Features of the Electoral card.
It is not machine readable as well.

Chip & pin nor dey! D.o.D, l repeat.


It can still be used for just identification.... like we use our Passports






Lastpage!

Not true, it is way secure than the current voters card, it is a very secure card that can be readable, but the unfortunate reality is that government agencies have a way of turning gold to sawdust. Imagine registering for a card and years after it is not ready

bring this down, it is one of gej's failures, it happened in 2010.

House, i would like to know if one is receiving fund in form of gift covered by gift deed as POF whether it must still be in ones account 6 months before application submission ?

2n2k:
The first thing that came to my mind. And I thought she had protruding teeth then that she used to cover with her palm.

God forgive me, those were the two features I checked for when I saw these pixes, since they were missing, I suspect it was another Geraldine. Well, if she is happy as she is now, what do I know.

Flee from temptation not experimenting.

You no wan chop akara you put am for nose say u wan smell the aroma, the akara go soon land for your mouth.

i think this girl used to be dark in complexion in the then BBA.
what happened to her?