₦airaland Forum

Ezeama400:
Another Foolish talk..

Before now I used to admire people in politics, I was seeing some of them as smart people until I started encountering some of them..

Nigerian political class is filled with dumb clowns if you encounter these people one on one and have interaction with with them..

Average political science graduate is more smarter than them.. Don't be deceived by the escort following them around..

Edwin Clark is one of them.. Is it that this man despite his years in politics doesn't know the difference between Niger Delta and SS ?

A state like Cross River State produces
nothing, yet you want it to be included In Commission because it's in SS, while others outside SS that produce oil should be removed from NDDC ?

Clark, though reputed to act clownish, is talking more sense than you here.
Producing oil or crude doesn't make a state Niger Delta by regional grouping. If Bauchi and Gombe starts producing oil tomorrow, they shouldnt need the NDDC tag to get oil derivation funds and shouldn't automatically enjoy a development commission because they haven't experienced the victimization ND has experienced to earn them the Development Commission called NDDC.

The people cannot threaten the mandate without the elites so he prioritizes the palliative according to the mandate security threat-level.

KnowAll:
But today it is 11.81 that means it has dropped.

black market.

creativehubb:
Our import volume keeps increasing due to population growth, and greedy Nigerians are hoarding dollars via currency speculation, Nigeria is peculiar in greed, both the politicians and citizens are greedy idiots. CBN must work with banks, and set a limit for domiciliary accounts, others finance solutions applications should be regulated, Nigerians should not be allowed to save money in dollars in Nigeria. The specualation, hoarding of dollars and chronic importation are the problems.

How did the greedy Nigerians lay hold of these dollars? Through witchcraft?

Govt doesn't have enough of something(dollar) yet wants to sell it low and expect those who can't buy from govt not to seek alternatives(black market). The govt is trying to dictate going rate of what is not in their hands. That's worse than subsidy. It is robbery in principle.

KnowAll:
What is Ghana, Benin Republic, Togo and Cameroon producing yet their currency’s are not free falling like Naira.

I sense sabotage by Tinubu’s Enemies.

Theirs too has been falling compared to dollar but our has made theirs look stable. Ghana cedi dropped from 12.5 to 12.8 to a dollar few days ago but no one noticed it because ours was screeching as it was falling.

yarimo:
Good governernce in reality, unlike one social media governor in ABIA STATE

mumu. Is abia and Lagos earning same thing?

Palestine is not under harsh blockades.

What is their governor doing? Even though the Fulani dominated FG army is permitting them to wreck havoc, the governor can always do something.

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Textbook ideas taken too far is what I see here.
Inflation doesn't inspire production like that. I don't see naira devaluation inspiring local production of gadgets for example. No amount of devaluation for example, can inspire production of computer chips fast enough to replace imported ones. Same thing goes for electronics appliances and other advanced products.

What we can produce for now are low tech stuffs like fabric, food, cosmetics, building materials etc.

Wainey:
So I am into importation of phones and selling it here in Nigeria, with the recent price hike in everything. My business is reaching a point where it's about to be closed, please what do I do?

there is no shame in switching trades if your current business reaches a tipping point for reasons beyond your power.

In ancient times, you don't complain to Kings or Queens that you are jobless(continuously idle), you do something then pay your tax. And if that something fails, you switch to another thing and keep surviving.

The usual suspect.
Share money. Take credit for gains Dangote refinery brings. Resume full throttle propaganda campaign.
Lies lies and more lies.
Steal money.

Maybe he preached against their actions.

$1.00 is equal to ₦1,320.00

The govt has disowned the populace and as long as they have official forex to buy for themselves at less than N800 we can buy it at even N1320.
It is now more rewarding for any manufacturer to sell forex at black market after getting at less than N800 in official window. Absolutely chaotic!

Last week and this week is something else.

Budget between N150 - N250 per hour of pumping operation.
Best approach is load token then pump it yourself and calculate kWh used per full tank pumping operation.

Idiotic thing.

Flat-earth slowpoke.

Long overdue.

4

Gboom:
Stop displaying ignorance here, I know the angle you are coming from.

IGR is a function of GDP, if a state GDP is low definitely their IGR will be low unless those state governments are giving tax reliefs to few pioneer companies which may be in form of capital allowance or CIT which only Federal Inland Revenue can grant

Two economies with equal GDPs can have different IGR levels because of disparity in taxation level, Yes or No?

N1290 on some platforms.

Hope without shege can not be appreciated so the shege iis being fine tuned to amplify the sense of hope.

Just leave and stop disturbing the whole world with stories without evidences.

Sounds dumb to me. It should be noodle cafe and not Indomie Café. It should be about a food and not a food manufacturer.

Can the one in Enugu take more structures?

Cargoes takes 45 days to arrive and therefore can't change rate of arrival because of dollar in 2 weeks.

Importation into the nation’s seaports dropped down to 65 per cent in the last two weeks, due to instability of foreign exchange and devaluation of Naira...

It is a case of obtaining a defenceless waffi woman.

sulakishop:
Let's hope it works.

Most motives behind many good gestures get defeated before the implementation due to greed lately

read post oga.

Both past and present are thieves looking to steal same thing.

SoNature:
Source: https://businessday.ng/business-economy/article/ten-companies-that-shutdown-over-worsening-economy/

Southern companies. No northerner lacks forex. Full throttle colonialism under Fulani.

FreeStuffsNG:
Speculators currently behind the unpatriotic and criminal arbitrage are already trapped with the executive orders and will get burnt las las ni

They want to keep on speculating , hype the overvalued street value of USD and call it parallel market price or projection. Smh. Eyin obaiye je lo ma re.

This current FG will not go borrowing money or use hard-earned forex inflow to fight against the overvalued US dollar on the streets. You all will get burnt las las.

Those being deceived to keep hoarding forex will get burnt severely las las. It's laughable ignorance when poorly educated people who have almost 100% of their day to day expenses in naira still go and hoard forex and crowd out those who genuinely need it. If they don't get burnt, no defence of the naira will. Not even EFCC that Mr Emefiele kept sending after them will make them stop.

I am 100% in support of the steps FG through CBN is taking to allow free float to determine our real aggregate demand till those unpatriotic elements are burnt by real market forces.

God bless President Bola Ahmed Tinubu. God bless Mr Cardoso. God bless Nigeria for ever! Check my signature for free stuffs!

keep shut propagandist.
If the forex is lacking why regulate prices?

He is now there and practising what he once advocated for.
Lack of forex will weaken the naira but pumping out more naira will catalyse that process and that's what we are witnessing.
After printing money to meet obligation, how do we prevent that money from showing up at the BDC for forex?
Because higher demand for dollar by reason of less dollar & more naira will always result in artificial/avoidable weakening of the naira.
The sensible way to print money is to use it to inspire production. Print one trillion Naira but out of that use 10% to give out farm inputs and promise the farmers as soon as they have their bountiful harvest, there is a buyer. At harvest, buy their output with the remaining 90%. You just created money from thin air and harvested goods worth the money's value side by side with the money. That's what Jesus did when a coin appeared in the mouth of a fish. What FG has been doing is yahoo boys stuff and not Jesus stuff. The have been printing money and are ignoring production of what money buys. With my formula you can tell tailors to produce clothes then clothe the nation with the output after printing money to pay the tailors for real goods. That's different from paying idle civil servants printed money who then rush to the tailors and pay higher for clothes. That brings inflation.

A meagre 33%.

Use kpokpogarri as snack always.