₦airaland Forum

I commend the seriousness that the country Nigeria is showing to the world through the President Tinubu

Good, but until implemented.

It's too late for loan now except grants and debt forgiveness. It is time to increase productivity, efficiency and sell some assets to stabilize the nation first.

This story is not completed without telling us what leatherback was initially suspected of.

I like how the memo is being leaked. This is also sending a signal to them that no secrecy is allowed in government internal business.

The truth is that the type of economy are we entering into needs serious regulations but people will resist change at first but regulators needs to show seriousness for people to take it serious.

Kenochi:
I have always believed that the biggest problem we face is not hunger,poverty or economic issues but our leaders being not innovative or finding creative ways to solve our problems
I strongly believe that until the Local Governments become economic drivers of the Economy, we are just going round in circles
This report clearly justifies what some of us have believed,that the country is not producing enough food fo the populace and commercial use
I suggested on a previous thread that the 774 local governments should be encouraged to own Farm settlements operated or either by lease to small scale farmers or private corporations
The states should provide logistics to evacuate the farm products,infrastructure and Security for this settlements
The Federal Government will create Silos in each Senatorial Districts and will be a buyer of last resort to this farmers

Imagine if each local government took up crops which can thrive in their locality and get the people back to work,it will be a matter of time before we create Wealth across the Land
This type of wealth is sustainable because it is from bottom to the top and not the other way round
The Local Governments will be encouraged to compete against themselves and the best Agricultural friendly LGA will be given awards and Cash grants
I believe that in every problems,there are workable solutions but it seems in Nigeria we have a way of turning simple problems into hard mountains of solutions that can never be resolved

This is very creative but are our leaders ready for this? Would they allow it to work without embezzling the fund and not be deceiving everyone of us??

Good luck to the mechanic. Wishing the SUV owner a quick recovery.

Naira is still finding its level

Good. In a fre economy, price control has no place

I trust Tinubu government, he knows what is doing. He is empowering government institution and the Nigerian market.

femisplash:
Removal of subsidy, floating of the naira, removal of FX arbitrage, investigation into CBN finances, stopping NNPCL from receipts of oil revenues, restructuring NNPCL, gas revolution and expansion, rehabiliation of refineries, decentralisation of electricity, rehabilitation of Ajaokuta steel, increased states's FAAC allocations, constitutional review, etc. The President is systematically retooling and refixing the structure from its core. For far too long we have lived a fake lifestyle and false economic realities, an import-dependent country with little or no buffer whereby 98% of her revenues services loan facility and parasitic subsidy payments. Those nations we help develop their economy through imporation with scarce FX, had at a time in their history gone through similar or worse sacrfices and economic turbulence. The current surgical economic and structural revolution is for the greater good of the country.

Intelligent observations! A Lot of people didn't know this what the Tinubu government is currently doing. I think the government needs to communicate his activities and the expected results to the people so that they will understand these reasons for the current hardship and beg for their sacrifices and understanding.

No need to ban, tax it separately. The tax on it should be made available as loan to recycling companies to source and use it. This will generate more employment and money revenue for government.

Some subsidies need to go. Subsidies in Nigeria is the heart to corruption.

The Presidency has charged state governors and council chairmen to wake up to their responsibilities as a panacea to food crisis and hardship in Nigeria.

President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, said Nigeria would be better if governors and local government chairmen boost food production in their domain.

Posting on X, Onanuga berated governors for blaming the Federal Government for the food shortage in the country.

“Let the governors and council chairmen wake up to their responsibilities. The Federal Government is not the only actor in town.

“You have your duties cut out for you. Imagine each state making efforts to boost food production in its domain, build one world class hospital, good roads, good schools etc. Imagine what our country would have become.

“But while governors and the councils shirk their responsibilities, they are quick to call out the Federal Government, which is far away from the people those governors govern.

“Let all governors govern well, along with their councils, food inflation, at least, will disappear. Our Federalism may not be perfect, but we are not a unitary state, where everything must flow from the centre,” he said.

https://dailypost.ng/2024/02/14/hardship-food-shortage-youre-to-blame-not-tinubu-govt-presidency-slams-governors

I see Governor Bago as the only working at the state level trying to end the suffering of its people unlike other govs saing they would meet with Tinubu. Can't they do something at the state and local government area too??

President Tinubu has always take responsibility for the hardship and assure Nigerians he understand their sufferings.

Please the politics and economy of the state government blaming the federal government for their failures should stop at this juncture. Let the Kano governor tell us what he is doing at his state to ease the severe hunger ni, not to tell us he will meet Tinubu to tell him what he already knows. The governors should stop the shifting of blames to the center only why they do nothing in their states

dacool1:
In your mind now devaluation of the currency is the right way, what happened to banning the importation of those said goods, they did with male wears, frozen foods and rice. Stop defending nonsense

Why must importation be ban, when it would still come in through smuggling thereby making money for smugglers and traders in black market while government lose revenue? Please learn strategic thinking.

millhouse:
a govt that just lifted ban on the 41 items accessing forex cares about local production ?

Lifting ban on them doesn't mean their high import tariff will not be paid on them and that their forex allocation is automatic.

cucumbar:
Una head no correct o.

So they will suddenly see production as more profitable, when all the indices that made production unattractive, such as epileptic power supply and high level corruption haven’t been addressed?

Supporters of this government are really dumb.

Don't get it wrong, epileptic power supply and corruption has been here not today and those company has been here too not today. It just got worst now that importation is profitable than production that's why they are dumping production for importation which the new import tariff foreign exchange rate is currently discouraging.

Before now, our government has been too lenient with consumers products importation and paying lip service to encourage production. Those leniency should only be given to manufacturers raw materials and not consumers goods as we have it now

An ignorant part of you forget that you are part of the government whether directed or indirectly; deliberate or non-deliberately through your actions or inactions.

millhouse:
can you hear yourself again pls .

You are aware of the avalanche of international companies winding down, manufacturing companies closing shops and switching their business model from production to importation due to the harsh business environment in the country .
No country survives in isolation , even advanced countries still have to import materials one way or the other that aids manufacturing process.

What are the alternatives? For instance , the local rice ( which is not rocket science to produce ) we grow is almost at par in price with imported rice, so where is the advantage in local production here .
Let’s not put the cart before the horse.

Why are those international companies shutting down production and switching to importation? It is because they see importation to be more profitable than production. But with the BAT government import rate that is making importations costlier, production companies will be producing creating jobs for Nigeria instead of importation that will create the job for another economy.

This new increment confirmed my feelings that the exchange rate increase on import duties is to discourage imports. If that's the case, it is another bold move by Pres. BAT to better our economy.

I am beginning to feel that the Naira fall could be part of government plan to discourage import, encourage export and make more Naira income. Why would cbn raise the import duty dollar rate from 700+ to 900+ in November 2023 and then again to 1300+ in January 2024 if not that it is a deliberate thing.

Now, is when our economy will know the real foreign investors who is genuinely interested in developing and being part of Nigeria market because any company opening in Nigeria at this time know that the company won't be able to repatriate it's capital back now until Nigeria's foreign exchange earnings improves in the future.

This is good. The CBN has nearly neglected and under regulate this area for so long.

No lie nah, especially in the services part of the economy.

Honestey:
I second the motion

Those in support say "Hay!"
Those against say "Nay!"

Could this be dangote's ploy to keep profiting from importation? Could this be his ploy of making gains from foreign exchange or balancing/using his foreign exchange earnings to pay foreign suppliers or simply a ploy for money laundering??

I am wondering because Nigeria can supply the total crude oil needed at dangote refinery.

Some least expected African countries are waking up and smelling the coffee, challenging and changing the narrative of Africa. Neo-colonialist and their agents should be ready to "let the poor breath"

As provocative as it was, the church not responding is very matured. It is clearly a deliberate attempt to cause trouble. He was not there alone but with other accomplice(s) His clear accomplice is the recorder of h video shouting "Allahu Alkar" as he was recording.

History told us that theft, pilferage and corruption was scarce or never in existence in Africa until slave trade and colonialism came to Africa. They looted us of everything, tricked and lied to us while still scorn us about it till today

Don't be surprised that Nigerians constitute a large percentage of the visitors to those countries.