₦airaland Forum

sunboy:
This is clearly propaganda. In as much as I have hopes that Tinubu will fix stuff…

Yes money will flow in mainly because naira got cheaper. Cheaper to buy assets now. It’s common sense. They are only taking advantage of the situation not like anything is improving YET. Maybe later but not yet.

Does anything improve overnight? If I give you N1bln, you can't put up a 5 Bedrooms mansion is 4 weeks, yet I can knock it down in 4 minutes.

What Nigerians need now is for prices to be stable. For that, we need exchange rate to be stable since we import a lot of stuff, including diesel for the transportation of most of what we import across the country. So it's a double whammy effect.

And for the exchange rate to stabilise, we need hot money coming in the short term, Since demand for imports cant be quickly reduced and oil production for dollar supply also can't be immediately increased.

garriAndsugar:
In lay man's term tinubu made Nigerians so poor that their relatives abroad increased the money they send them.

All hail tinubu the master strategist.. mtchewww

Y'all act like there is a simple straightforward solution for the economic crisis we are in. Sometimes things have to get worse before they get better.

Didijiji:
This government increased prices so that there will be more money to be looted and shared amongst them

How come we pay subsidies and still buy fuel at 670?

What happened to the differentials?

Hmmmmmm

E go soon happen oooo

TAKE US BACK TO THE PDP ERA

Pls
Pls
Pls
Pls
Pls
Pls
Pls
Pls
Pls
Pls
Pls
😭😭😭😭😭😭

You're buying fuel at 617 because there is subsidy! If there was no subsidy, you'll be buying patrol at N1,000

money121:
This or that

And please share your Reason

THAT!

Mateco556:
https://saharareporters.com/2024/03/05/ghanas-central-bank-suspends-forex-licences-gt-bank-first-bank-over-alleged-fraudulent

Nigerian banks have carried their bad behaviour to other countries. Same way Nigerian citizens do! Just proves that the problem is with us Nigerians.

Omooba77:
https://www.vanguardngr.com/2024/03/review-fuel-subsidy-removal-falana-tells-tinubu-led-govt/

What exactly is Falana asking for??

is it a confirmation from the government that there is actually subsidy? If so, what good does that do, since you believe that there is a subsidy?

Tiler:
Is the power sector not making enough money to pay their expenses

When we talk about cost reflective tarrifs, you think say na joke?

Jennyclay:
I hate Turkey

The taste and price is just too overrated and overhyped.

Literally everyone I tell says something banal like, "You just haven't had it cooked properly!" Bla bla bla.… Chicken is the best.

If I cook with chicken it’s give me this natural lovely delicious chicken flavor taste and aroma but if I cook with Turkey it gives me 0 taste 0 flavor and 0 aroma. Nothing!! Nothing!! Nothing!!

Totally agree. And Turkey has so much bone, you'll be struggling to find the meat and wondering what the fuss is all about.

wisestman:
I suspect your remote job is online customer service where u wear headphones. If not, guy carry your laptop and choose any bar or lounge to work. Just buy soda or bottle water and be sipping while you work. Imagine opportunity people like me are looking for.

if you are single and you work from home permanently, you'll get tired of it. Except you want to use it as an opportunity to be faffing about, missing work and going out.

Its not healthy at all. I prefer the hybrid one I do where you do 3 days in the office and 2 at home. So I'm home from Friday to Monday.
In fact some days I aslo work from home on Thursday

U09ce:
Someone should please tell me why this road is priority.
There already exists a dual carriageway from Lagos-Benin-Warri-PH-Uyo-Calabar.However,many sections of the road are in a terrible state. I'm wondering why they can't channel the 1 trillion whether PPP or govt funded to the existing road. Sha, rumours abound that BAT has interests in the contractor Hitech.

Another option is to use the funds to at least kickstart the coastal railway. It has far more benefits compared to the road project.

Totally agree with you!! There are better things to do with N48bln or N1trln!!

An extension of the standard gauge from Ibadan to Abuja is far more vital in my view.

Paraman:
https://www.arise.tv/nigeria-approves-n1-trillion-to-start-construction-of-coastal-road-from-lagos-to-eight-states/#google_vignette

This project is a bloody waste of money and is clearly a means to siphon money!!

We have an existing East West road from Eket - Port Harcourt -Bayelsa - Warri - Benin - Shagamu - Lagos!! How about completing this road and optimizing the corridor to make it free flowing? Now you say that there are a number of uncompleted roads, yet you want to do a brand new contract of N48bln for phase 1? Money that could have been used to repair a number of existing highways across the country.

Meanwhile it was meant to be concessioned. Now they are making excuses to make it a cash backed contract, so they can siphon!!

tonicyril:
Did u read the part where ur documents for the purchase will be presented??

Cant those be easily faked? Who will verify it at point of sale

Wisdomkosi:
https://politicsnigeria.com/wike-vows-to-transform-abuja-into-a-smart-city/

Story!! Wike can't even properly articulate what a Smart City means, except what his Perm Sec has written down for him.

lexy2014:
how does that answer my questions?

pls what are the "very tough decisions" that Tinubu is making that will gradually stabilise things?

who destabilised the things that Tinubu needs to stabilise?

you say "decades of corruption".

has Tinubu not been a participant during these decades of corruption?

how has his participation in public life been devoid of corruption?

Clearly you are just asking for asking sake.

Tinubu has only made two critical decisions - subsidy removal and float of the Naira, so why asking again "what tough decisions". What's tougher than subsidy removal that all other Presidents have kicked down the road.


"Who destabilized"...I basically answered this in my post. Go and re-read!! And then read between the lines, if you cant figure it out.

Is corruption all about Tinubu? He was totally not involved in 8 years of Buhari government. Totally frozen out. Neither Jonathan's govt.

Xscape1993:
A confused drug master. Always doing the wrong things at the wrong time.

Which one be wrong thing at wrong time. After 8 years what new vision is the guy going to do at AMCON that he shouldn't have done already. Let somebody with fresh energy and vision take over.

Ucheamani:
Ogbeni, Both Heathrow and Gatwick are not in London, Heathrow is in Hounslow west while Gatwick is in west sussex.
Both are called LHR and LGW for marketing and brand purposes.

That is Semantics!! Why then is the flight called Lagos London!!! it should be called Lagos - Hounslow!!

Seems you don't know what a greater metropolitan area of a city is. Technically Katy is not in Houston, but for ease of reference since its in the Houston Metropolitan Area, anybody in Katy will say they are living in Houston. Even Ikeja is not in Lagos technically, cos Ikeja was separate city on its own, which is why the Capital of Lagos State is Ikeja, not Lagos. Real Lagos is Lagos Island up to Oyingbo, Ebutte Metta and Yaba.

Your post is irrelevant.

Enugurangers:
https://punchng.com/tinubu-to-inaugurate-geometric-power-plant-in-abia-monday/

We need something like this in Lagos. Lagos is the commercial center of Lagos and would greatly benefit from 24/7 electricity. Even if at a higher tariff. I'd gladly pay N150/kwh of constant stable electricity, cos my gen is costing me like N450/kwh equivalent, not to talk of the noise, pollution, maintenance etc

lexy2014:
it seems that suffering induced by government has bastardised your thinking faculty that you think it is now a norm that the citizens of Nigeria should get used to.

pls what are the "very tough decisions" that Tinubu is making that will gradually stabilise things?

who destabilised the things that Tinubu needs to stabilise?

you say "decades of corruption".

has Tinubu not been a participant during these decades of corruption?

how has his participation in public life been devoid of corruption?

Despite that, we can only take Nigeria forward based on our reality of today! Not what it ought to have been! And that reality is that Nigeria is almost broke and we are nowhere near as rich as we think we are.

South Africa's national government has a budget of $125bln, yet they have no oil and 1/3 of our population

Algeria has a national budget of $98bln, yet they have less oil than us and lower population


Nigeria has a budget of $33bln. Yes I agree we have corruption issues. But even with zero corruption, in which segment of your thinking does $33bln match with $125bln!! Yet we are supposed to have a bigger economy than South Africa.


As for who destabilized, the rot started with Jonathan!!

Obasanjo paid our debt
Obasanjo had economic growth averaging 6%
Obasanjo left like $40bln+ in Excess Crude Account


Jonathan took down ECA from $40bln to like $30mln.

But the worst of them all was Buhari

SoNature:
Oga, you should have asked me before concluding that I don't have a nominee. Since Tinubu likes hiring his tribesmen to do the job, he should have hired Bismarck Rewane

I even thought he would either be the CBN governor or Finance Minister. Unfortunately, Ebola is busy rewarding his fellow crooks and clueless folks.

I beg leave Bismarck Rewane!! I've listened to that guy severally and he's overrated. Once Nigerian's hear technical jargon they don't understand they ascribe smartness to people. That's how we are easily deceived.

Besides he was an advisor under Buhari's government not so? Where did that leave us? Where was Rewane when Emefiele was selling Nigeria's crude of 2025 ahead of time to get dollar to defend Naira.

CharleyBright:
Hmmm.
To be very honest, I or anyone here on Nairaland cannot certainly say Cardoso is not qualify or capable of the position he is handling.
Truth be told, what is happening to Nigerian economy presently was ignited in Eagle Square on inauguration day when Bola Tinubu foolishly and brazenly told Nigerians that " The era of Subsidy is Gone".
Petroleum subsidy is the lifeline of Nigerian economy. Everything revolves around it. Only a very foolish or wicked person will on his first day in office go ahead to tell Nigerians that he intends to unplug the livewire of the Nation.
And the clown expects things to remain the same or get better
Cardoso is coming to meet a battered situation on ground.
Pls I don't blame Cardoso, I blame werey Tinubu 100%.

Petroleum subsidy is not any livewire of this nation. Diesel has far more impact on the daily lives of Nigerians cos food, cement, containers are moved across the length and breadth of this country by diesel powered trucks and diesel has been deregulated for about 15 years now.

Besides, exchange rate is even more important than removal of subsidy in itself. If subsidy had been removed and naira had remained stable at N700, prices wouldn't have gone through the roof. And removal of subsidy has no direct relationship to the exchange rate. In actual fact, subsidy removal should have helped it because it would have meant government no longer had to use its own dollars.

Nigeria's key issues are beyond subsidy removal.

Insecurity impacting farmers ability to grow food and Insecurity limiting how much oil we produce and ultimately how much dollar we earn a a country are bigger issues than subsidy removal in iteself.

Mynd44:
All BA flight should be going to Ilorin and Akure then.

If they are not giving air peace Heathrow, they shouldn't get Abuja and Lagos

Calm down. Gatwick is in London too and the distance to center of town is pretty much the same.

Bintasukai:
Funny you mentioned Ben Bruce, seeing as how Silverbird was clearer than NTA after he was DG. There were allegations that he used the money for nta to build silverbird. They said that he would always buy 2 equipment, the substandard one would be for NTA while the modern one would be for silverbird, all on NTAs budget

Who are the they!?

Moblux:
Needless. If true federalism in parliamentary mode is practiced,95% of the agitations will not be

Leave true federalism first. What Bout your governors. If they can't deliver anything now, neither will they do if you give them 100% of their resources.

NairaOcean:
On Wednesday, February 21st, 2024, something surprising happened on TV. The Nigerian Television Authority (NTA) was showing a live program with Yakubu Gowon, a former leader. At 5:30 pm, during the show, things got tense.

NTA asked Gowon to speak Hausa, a language he didn't want to use. Gowon is good at speaking English, which he preferred. But NTA kept insisting, even though Gowon said no. Then, without warning, NTA suddenly stopped the program. People watching were confused and upset. They went on social media to talk about it.

People are now talking about why this happened and if it was right. They want NTA to explain.


https://www.youtube.com/watch?v=xu_3OBMC6Ek

There's nothing wrong with with cutting it off. That conversation is not one we ought to have been hearing.

FOOTSOLDIER2:
Qouta system as always. Because of hatred for one part of the country, the Tinubulation government has neglected the round pegs for today and holes even though we all know the neglected part holds the solution, but no! It is emilokans time, awalokun people will plung this country into Venezuela situation.

And who are these round pegs!? And please I hope you don't say Bismarck Rewane! Cos to me that guy is overrated. Besides he was an advisor to Buhari's government. Where are we today?

blackgold2018:
so Buhari carries the blame till the next 8years abi. You're very stupid.

Same way Jonathan took the blame on Buharis regime

I'm tempted to respond in kind, but let me be the more mature person.

Buhari printed 22TRLN!! for all manner of TraderMoni, Anchor Borrower, School Feeding, Cash Transfer, COVID Intervention that we have no clue who got these funds, pushing massive amounts of cash into the system, but its Tinubu's fault?

Emefiele used future oil production to collect loans to defend naira just to satisfy Buhari's desire to defend Naira. Now even current crude oil production is already mortgaged. No USD available to defend Naira, but its Tinubu's fault?

Excess crude Account that in Jonathan's time was as high as $40bln was frittered away. That's the funds we might have been using now to manage our fx problems, but its Tinubu's fault?

Nigeria is eating the breakfast of terrible administration in our government since 2008. While I blame Buhari mostly, the decadence started from Jonathan. A clueless dolt who was pushed left and right and had no clarity of mind as to what he wanted to achieve. So he achieved nothing.

Obasanjo cleared Nigeria's debt, and left huge Excess Crude Account with minimal deficit and averaging 7% GDP growth. He had his issues, but clearly the problems started from after him.

danchuzzy:
How does this help us?

You stop export to reduce price and then stop foreign exchange from coming in? Short term win long term loss?

Or what am I missing?

Ok, I guess you are happy to pay N15k for a 12.5kg cylinder?

LPG doesn't earn us much. Why not forgo it for 6-12months for prices to crash to say N7k, so that Nigerians have disposable income in their pockets, while we build additional gas capacity from the commercialization of gas flare sites and then LPG exports can resume.

skj1377:
The idea of floating the Naira is wrong. Gov should determine the value of the Naira to dollar based on their strategic national interests. Floating the Naira makes it permanently unstable.

OK that means we will have to defend the Naira. Where is that dollar going to come from? We will borrow dollar so thst CBN will keep dollar steady at 900 for all of is to be importing?

When will we bite this bullet we are all avoiding.

Maybe this current situation is useful for Nigeria. In other countries even before half of this citizens would be protesting at the NASS. But here the NASS has budget of N300 Ln, more than most states, but the citizens only come out to walk for Mohbad.

The we aren't serious.

[quote author=DesChyko post=128574123][/quote]I get the issue Peter Obi is raising, but the key issue here is the instability of the currency. When the currency was mainly stable, small adjustments of N5 or N10 from point of form M and paying duty were not an issue.

Alternatively, is it possible to go and pay the duty immediately the form M is filled?

Or NCS should uses the rate that was in place when the documents were filled? That might give rise to unnecessary complications.

Again if out FX market were more sophisticated with forwards and options readily available to all traders, this might be less of an issue.

PlasmaTV:
Lol
A very incoherent government. Every single arm of this particular government is incoherent.

It is obvious that Tinubu doesn't know what to do with the country. It's like a man who doesn't know how to drive but enters an 18 wheeler trailer. Soon enough, he'll have a terrible accident.

APC should be deleted from our history books. Tinubu should be relegated and ostracized.

What Tinubu has done is what a President would have to do at some point. He has just decided it will be him, instead of kicking the can down the road like other presidents did. Buhari is the biggest mistake Nigeria had and the past 8 years is the price we are [paying now.

I know Nigeria can be better and Tinubu can do better, but the reality is that the country is BROKE!! We cannot used scarce dollars to defend Naira. Neither can we continue borrowing to fund subsidy.

Penguin2:
Look at these fools….

You have a contract arbitration case against a business entity, and instead of bringing them to the table and dialoguing with them until you reach a compromise, you are declaring the promoter of the business wanted.

Lemme know if that’s what will withdraw Sunrise’s case against Nigeria from the Paris Court of Arbitration.

Bunch of empty brains that think they can solve everything by Agbero style.

Dollar is rising and they sent Gun welding touts to shout BDC operators.

Now, the fools are out to bully Sunrise instead of settling with them.

Ndi ala!

If the government has a good case, why should it settle? Did we settle with P&ID? If every matter was 'settled; no case would go to court, yet courts all over the world are full of cases.