₦airaland Forum

Before globalization enabled exchange of innovations, everyone recognised the need for innovative means of getting things done. Don't criticize because you are last. It is this same mindset that makes northerners trash western education but sporadically celebrate it.

DrinkWater10:
Kindly share some of those institutes you referred to.

Otumokpor institute of aiyelala and sango adherents.

Lol...


They are taxing an unproductive and entitled populace. Recipe for revolt of Blackman.

jumper524:
Professional bodies too were subsidised?

My God, I know the govt is corrupt but if they did subsidised this much, them the govt would bleed.
The president should cut off all form of subsidies apart from education and start investing on new ideas.

advance nations have and are maintaining theirs for a reason.

CyberHustle:
Replace sugar with sweeteners.

Trek to main jucntion around then board keke.

Sweetners are unsafe.

Trekking? Lol

Buy in bulk.

N90B is like the cost of corruption for a day.

Lies.

Lol. With education subsidy gone, institutes of skill acquisition will boom like never before, especially those that prepare their student for internationally recognized certifications.

Fire from roof. Just say arsonist don strike.

The oppressors and their collaborators are tasting the shege.

The leaders are more focused on how to maintain their convoys and lifestyle and so removed subsidy to spend on those things.

Resurrection212:
At least he didn't caused single traffic I drove in this area coming to mainland today...Not like Jonathan wife that will be causing traffic everywhere.

that's down to fuel price hike and not his convoy being disciplined.

What a system. We have our own too it is called football age. You see an old papa in FRSC still working and claiming under 65.

What people need most is Naira to Dollar and not really Dollar to Naira.
Though this is a good because when they accumulate dollar, they will eventually sell at a slightly higher rate.

Pythagoras001:
you need to create wealth before you can redistribute it . unemployment rate, tax to gdp rate should be taken into consideration for it to work

The petroleum in the ground is a form of God given wealth already.

Obinwenite:
Why is it that some certain people that defended buhari for 8yrs is the same defending Tinubu?…. Something is not right.

they are party agents and can't think for themselves any longer. Once they agree to become an agent to the higher men in power they are put through initiation process where they lost their will and brain to the interests of their masters. Sadly, Seun and his mods are almost like those agents except in manner of approach.

ZombiePUNISHER:
Do you know how much you and your family are owing only China?..

All Buhari cares about is not being disturbed by any probe...

The guilty runneth and trembles when no one pursueth..
Tinubu will Bankrupt the country

Rockefeller predicted the expiration of Nigeria by 2026, this is it.

TemplarLandry:
They sha want to cripple us with debt by all means…

You supported all their moves now, so why pretend as if you care about the consequences?
Be supporting IMF policies and think you are playing local politics.

Instead of managing our subsidies like western nations do we scrapped them. Now we will need many more loans to survive because we are not producing much and our natural resource we normally sell to eat can't keep up with the increasing mouths.

omohayek:
The 3 things which will determine whether or not the Naira strengthens in the short-to-medium term are

1. Who Tinubu appoints as the next CBN governor. This is by far the most important factor. If Tinubu appoints someone the international financial markets consider credible, someone with both the necessary qualifications and a proven track record, this will give investors confidence that Tinubu is committed to monetary stability. Without that confidence they will be wary of bringing their funds into the country, given Nigeria's long track record of erratic policy-making.

2. Who Tinubu appoints as finance minister. Investors want to see that the finance minister and the CBN governor won't be fighting against each other, with the finance minister pursuing inflationary spending policies the CBN governor then has to combat with extreme measures. A credible finance minister will be someone who understands how precarious Nigeria's finances are, and is ready to say "No" even when there are powerful political pressures to hand out freebies to bribe the electorate (aka "palliatives". This individual will need to come up with ways to raise revenues without killing the economy, and to cut spending in a sustainable way. Needless to say, few Nigerian politicians possess the necessary combination of intellect and backbone to do the job well.

3. Whether Tinubu commits to substantial privatization and deregulation. Tinubu needs to show that he is serious about decreasing the cost of governance, and selling-off loss-making parastatals is a great way to do this. Besides the boost to investor confidence this will provide, if the sales are conducted with transparency and openness, the resulting share sales will directly contribute to an inflow of forex.

The root cause of Nigeria's ever-depreciating currency is runaway inflation, which in turn is due to government after government living beyond its means, and trying to bridge the gap borrowing can't cover by simply printing money. The Naira will never appreciate until that basic problem is fixed. If you have two currencies, and currency A has 2% inflation while B has 22% inflation, it's no surprise that B declines by 20% against A - otherwise it would be possible to make risk-free profits by arbitraging any difference.

https://en.wikipedia.org/wiki/Interest_rate_parity

https://www.investopedia.com/terms/c/covered-interest-rate-parity.asp

which of these three will change the story bandits levying farmers and.help reduce.production cost to.make export attractive?

grandstar:
That imports do no good for you is simply untrue. It creates millions of jobs. The Tokunbo car industry alone probably provides jobs and livelihoods for over a million people. Wheat importation does the same when you think of how many industries from bakeries to puff sellers benefit from the flour made from. The same with milk and so. What protectionism does is simply to destroy an efficient supply chain thereby adversely affecting your economy.

You are missing it going by these paragraphs.
When you import wheat for inward processing into flour, you lost the jobs created at cultivation stage(job), the profit your seller makes(as lost Naira strength) and taxes from bigger revenue. That's why US gov can give intervention to Detroit based auto makers togunen of $10b. They need to keep production cost low and in the process create things monies are meant to buy or facilitate their exchange, jobs and even still get par of it in form of tax.

grandstar:
How will it be the same as printing Naira? It has been done before and it was not inflationary.

The standard practice is actually to pay the recipient in the local currency. The only reason why they reintroduced dollar payments was to encourage dollars to flow into the black market to strengthen the value of the Naira there. Now that the exchange rates have been unified, it no longer makes any sense to continue it

what will a foreigner buy with Naira asides crude?

Pauladex:
Prosecution with what evidence?

no evidence yet a sitting president is saying it is fraud ridden.

They ban my account anytime a bad policy has just been made. It.shows they are avoiding known opposers of insensitive govts. Mynd44 is a scourge to this platform.

Failure indeed. For you not to know this wave of increase is unavoidable is a failure.

It will have a similar effect as printing more Niara notes. Either you exchange it with forex or forget it. There are no Naira legal tender beyond Nigeria and so it cannot be remitted if not smuggled out first. Plus there are no pressure on Naira it is forex there is pressure on. People always want to go out to buy what they need and so need forex to do that thereby creating pressure on forex.

This petrol people are suffering for is something they have in their backyard and once offered human sacrifices to stem its flow into water bodies. Welcome to Fulani colony.

Board member board member(...in Ebenezer Obey's voice)

No be today corruption done start for Nigeria. When musician who praises drug lords and fraudsters of old begin to praise board members, you know say yawa don gas.

Promise land is not america is not america is not Asia, promise land is a state of mind....
Majek Fashek.

Yet no prosecutions of subsidy fraudsters. Who is fooling who here?