₦airaland Forum

You have not prayed amiss.

Money is not a shield to the arrows of life.

Seun:
I have banned many people for saying Na dem. 14 day bans.

continue like this and keep your mods in line. Some of them are lower than these name checkers in cyber carriage.

treesun:
Police can arrest Gistlover handlers, but our technology cant trace those that collect humongous ransome!

Yes. Can gistlover split any loot or settle them?
The kidnappers can and are probably willing to.
Will a bandleader just part with his money to the po-po? No.

That money is less than N10m in their hands now. Christmas grooving has taken the rest and their yellow(light skinned) girlfriends are probably comparing them to the hustling band members who are too poor to be dated by them. This life ehn.

Junketeers-in-chief of the federal republic of Nigeria.

Frankie6835:
you the release holy ghost fire 🔥, why Israel that's more closer to God the release DRONES, TANKS BOMBS. just continue

closeness metre.

In APC's number system, after one, three is the next number.
They ignored the so called second to focus in the third man after election and now from first term to third term.

Even Buhari kept yapping about not going for third term when he was in fact, seeking new loans and debt forgiveness simultaneously.

Cassava and corn era. That's how we are rolling.

Just ask for cocoa farmers around you if in the south or got Facebook and stalk sellers with marketing the powder with substandard packaging. They have direct access to cocoa more often than not.

Let's give him until 12:00 PM on Monday.

Biodun556:
https://www.thisdaylive.com/index.php/2024/01/06/dangote-refinery-receives-fifth-one-million-barrels-of-crude-oil-cargo

It seems you are the BMC dude in charge of this refinery. Great work. The news of incoming crude is inspiring fear of import substitution and thus supporting the naira strength. BMC isn totally useless at least.

They have resumed with churches again. May the fire of God speedily locate these senseless creatures.

Same woman who was shaking crusades with testimony and speaking in tongues

Is like these people have a personal relationship with the devil and are active partners with him.

The reason they can be doing 4+4 thinking the answer is 4.

If selling to him at 10% of Intl price Is the way to better forex conditions locally, I support it.

Illiteracy and anger. A cataclysmic combo.

Dictatorship stuff.

Topic says official market but content say parallel market. Conflicting information. I am guessing it is parallel market.

Grasses enjoy indeed.

I hope so.

Aunty Kemi Adeosun deviced a means to reduce inflated expense based stealing by setting up an "efficiency unit" but was discarded by conspiring thieves in power along with her ideas. Even if she was actually wrong in her NYSC saga, her good initiatives could have been retained and not discarded with her.

The reward for catching a thieve in govt is collection of your own share unfortunately. Maybe Farouk was not cooperating with the top men in the know of her stunts.

That's a lot considering that only small portion of roads need repairs.

The Lagos model is being replicated at the centre. Long term corruption programmed into PPPs and loans repayable with resources. Welcome to the future of corruption.

The old crooks among them will simply show the new intakes the way things are done here and you will end up with a large mob of salaried henchmen.

grandstar:
Do you realize why Central banks are made independent in most countries?

To prevent interference from politicians and others in doing their most important job which is to check inflation.

The same fears you have are no different from those of politicians and businessmen in other countries. The central bank no send

The practice of making the central bank independent started with then West Germany. The bank had the mandate to keep inflation at 2% or less.

Were inflation to rise above 2%, the Bundesbank would immediately begin to increase interest rates until it reaches a level that it brings inflation below the 2% level. Once it is certain that inflation has now been contained, it would begin to reduce interest rates. This led to mad respect for the Deutschmark and other countries began to copy same.

There's no option. There is no option. No option at all. The depreciating has made me for the first time contemplate leaving the country.

High inflation adversely affects the poor the most. So, bringing inflation down to single digits is non-negotiable.

Can central bank check inflation triggered by middlemen unions or criminal extortions in our own case. You are making further, the popular mistake of rationalizing what worked for a production ready and addicted Germany as solution for production crippled Nigeria where factors that influence business successes are completely unimaginable to a westerner. That rate adjustment is not a sure fix to inflation. Can interest rate adjustment by CBN make Adamu the maize farmer or Shehu the maize wholesale man bring down prices? Do you see that happening? Do you see interest rates affecting prices of sachet milk that's largely produced in Australia but just packaged into sachet in Lagos or Ogun state? Even the capitals of the lenders most times are looted state funds recycled within connected cycle of friends. Interest rates from CBN don't do much in borrowing pattern here but textbook zeal has obviously eaten you too deep.

odimbannamdi:
We are not arguing. We are trying to look at things from each other's perspectives. I have done so for you and even cited how the interest rates have been on the increase for the last 24months without solving the inflation issues.

We are talking about policies that affects the common man and you are mentioning banks. Even the banks have a directive from CBN to loan out percentage of every deposits they get. If interest rates keep rising, who then will take out loans to stimulate the economy. If you had a long term loan you are servicing, you will not be speaking like this. Let us learn to challenge the status quo and tailor policies to our unique circumstances.

dude is a textbook-jargonist. He holds onto textbook ideas forgetting economics is as good as half behavioural spending pattern(psychology) and half production system equilibrium.
He assumes the predicted behavioural pattern of an English man as studied and documented by Adam Smith for an African village man who will probably marry another wife if gifted £1000 today and bring more children into the world to brave poverty.

When you give tax cuts to big industries, instead of ramping up production to stimulate the production level nationally for example, so many simply treat that tax windfall as profit if production is becoming too hard due to local factors that's hard to reconcile in textbooks. A case like that is our extortion network in Nigeria. Which reputable author can for see highway bandits and agberos clear enough and adjust his predictions in economic output predictions?

He also says a lot of ridiculous stuff in a bid to force down argument on others with his textbook jargons.

Alfred Rewane said dollar should settle for between the pre-floating black market and official rates but what do we have today? Official rates are above old black market rates. A complete deviation from Rewane's expert prediction.

airsaylongcome:
He said it's gone FOREVER! Forever means forever...for all future time; for always; continually.

is he God? Even his monetary policies needs reversals.
The tough sounding Tinubu of inauguration day is gone for now. Dude is learning the peculiarities of Nigerian system. Textbook prediction are barely 25% effective in Nigeria.

Gboss247:
The price will slightly reduce, the impact of functional refineries won't be much.

refineries doesn't need to bring prices of refined crude products down so much. It is the import substitution effect that will bring prices of other goods down by strengthening the local currency.

airsaylongcome:
So effectively subsidy was never removed then. Because if the president says "Subsidy is gone forever", that means price should be determined by market forces which isn't happening.

saying subsidy is gone for good only means at that point, it was inconceivable to bring it back while announcing its removal.

grandstar:
There is a difference between subsidy removal and deregulation.

Let us say the present market price for petrol is N900 per litre and government sells it for 700, there is a subsidy of N200. Government now increases the price to N900 stating they no longer want to subsidize it any longer. Yes, at N900 subsidy is gone.

Then the market price increases to 1,200/litre. That means to sell at N900, the government will have to subsidize it by N300/litre.

Let us say the price is deregulated. If the market price is N1,200/LITRE, the price automatically increases to 1,200/litre. The government no longer fixes prices.

The price of kerosene, AGO and have been deregulated. However, that of petrol is still fixed by government.

if Oando or Rano for example decides to sell at N850, can govt arrest them?
Stop creating difference where none exists.