₦airaland Forum

HRprof:
Dollar floating is the mistake FG made, this policy is worsening the situation coupled with subsidies removal in fuel, electricity etc.

Naira will keep depreciating because of scarcity of dollars in the bank and customer will continue to patronize black market.

Aboki FX will capitalize on this to double their price against bank rate. You can not float dollar we don’t produce.

Tinubu kicks the ground running without leveling the ground now the ground is running through us.

So how does Nigeria keep the rate steady without sufficient dollar earnings to defend it? Maybe you should allow the policy to settle first. It needs months to stabilize, not weeks. If other policies of government are business friendly and foreign and local investors perceive it as so, more dollar investments will come into the market and increase dollar supply.

Buhari's madness of 8years where he basically told foreign investors to go Bleep themselves can be undone overnight!!

Is it that Saudi Arabia mandates countries to take care of their residents feeding during the pilgrimage? If so then fine.

Othwrsise, why can't the pilgrims go and find food by themselves? Why should the State and federal government be involved in giving pilgrims food packs?

London welcomes millions of tourists every year ND they all find their level in terms of where to eat.

Buhari didn't remove the subsidy on diesel! That was done way before his government!

Okortor:
It ended well, had romance with my manager for months which the MD got to later find out and publicly casted us during general meeting, she said I've got such effrontery and no wonder my boss favours me, threatened to inform her husband and my wife because we were both young couples and got married on the job. After the meeting, we went to meet d hr tendered our resignations with immediate effect and same month salary in lieu forfeiture.

Next day, she called us and insisted she won't be accepting our resignation, and many other talk, we sha continued working and the rest na history.

However we have both left the company but still continued our romance and now working with multinational company as at date.

2 married couples banging in the office...na wa o

prophetfire:
. Tinubu owns Eko disco, so all discos are rejoicing because one of them is now the president and Tinubu has been pushing for electricity increment for years. Now that he's in charge, Nigerians will hear nwiiiiiiii.

Una don start again. Tinubu owns Eko Disco, he also owns Dangote refinery, he also owns lekki Free Trade Zone, he also owns eko atlantic. He also owns national Stadium, he also owns national theatre, he also owns lagos ibadan expressway, he also owns 2nd niger bridge!!!!

nams77:
No be lie o!

Aisha was a tyrant. I miss this woman sha

Because of probably the only negative thing Aisha did, she is a tyrant!

But this one that wanted to be ordering governors around, just because she's the presidents wife in a saint abi?

talented321:
Intelligent and english are different things, some people are very brialliant but find it hard to speak.

Well she isn't intelligent either!

NuCypher:
The bigger question is if the customs is transacting in dollars or naira? This is a very important question we should be asking, if the government itself can start dollarizing the economy. Last I checked, we spend naira in Nigeria, not dollars.

But the car you are buying from abroad isn't it in dollars? So of course the devalued naira makes the car more expensive, so naturally duties which is a fixed percentage becomes higher too.

The headline is misleading. Customs didn't increase anything.

Umuchoke:
One agbado douchebag on second page was arguing that price for petrol is higher in the US. So I ask these fools to compare their meager #30,000 minimum wage to $1160 American minimum wage. If converted to naira that's around #878,688.40, almost close to a million.

Someone who earns that much wouldn't flinch to pay #1000 per liter of petrol. But how can one afford to pay #500 per liter when he earns #30k?

Those hailing Tinubu today are condemning the Buhari they once hailed. But if you ask me, Buhari is the lesser evil. Their hypocrisy stinks to the lowest hell!

Which is why the effort of Nigerians via NLC and TUC should be on increased minimum wage and less govt wastge (also bear in mind that less govt wastage also includes reduced staff, cos majority of people in govt are doing very little).

But the idea of pricing thing below their cost and govt making up the balance, which ends up creating a rent seeking economy, that I DO NOT SUPPORT!

Teymanhenry:
I think FG has to intervene this time, they should set a team to check if the reason for hike in electricity bills is valid. We use hydro Power. They should explain clearly how this hike in tariff correlates with their fuel consumption

Actually hydro is only about 15% of our electricity mix. The rest is thermal from gas. And almost all the equipment used in the industry is imported.

What we should have done by now is invest in grid scale solar farms of like 500MW. If we had done like 4 of those in last 5 years, we'd have had 2000MW that isn't fuel dependent and that would reduce the need for increases.

yemmit90:
These people are mad, they should give 24/7 power supply first before thinking of another increment.

With 24/7 power supply and prepaid meter, people can easily afford this because the money to fill gas and fuel the generators would be channelled to electricity bills.

Are you considering that with 24hr electricity, bills will almost triple!? The issue is not really about 24hrs it's about paying the appropriate price for what you use.l, even if it's for one hour.

Even if they increase it to N90 per unit, electricity from a gen ranges from N250 to N500 per unit, depending on the type and size of gen.

And if you doubt my calculation, if you have a typical 3.5kva gen, that outputs about 3000watts and will last 12 hours. The 3000w is 3Kw and used for 12 hours so in Kwh that's 36kwh. If you put 20litrs of petrol for those 12 hours @ 500 per litre =N10k

So N10k divided by 36Kwh = N277 per Kwh.

nedekid:
But Gen is more expensive.

Oh o... That totally defeats the argument.

And the other argument of “oh if Nigerians has 24hr power, they wouldn't mind paying“ makes no sense. Someone has electricity for 10hours ND his bill is N7k and he's owing. Is it when light is 24rhrs and his bill is N18k that he will then pay?

Agreed people should be metered, but meter is possible to get if you really make the effort to get it. Truth is that many people aren't making the effort. As is usual with Nigerians, they just expect the meter to show up at their house.

I'm sure they're all from the North. That's how those positions from up there behave. They believe governance is there right and there's alone

Tofax:
The North seems to have 11 appointees, the South West has 9 appointees, and South East 1, and South-South 1. That is fairness and equity?

Na for every single thread you dey post this thing?

DatIgalaDude:
The appointments reeks of nepotism.
Our leaders are all the same.

Much fairer spread of appointments than what Buhari did!

Kharol1234:
Press conference for wetin na?



Say she cook food



Nigeria police self na anywhere belle face them they put head.

That ain't police. Looks like man o war

CodeTemplar:
We can achieve such figures but the elites always want to own things and be in a position to make huge profits off the masses. I have a thread about what some renewable power projects cost and don't see what stops us from having such if not for this greedy capitalist pattern.

Good point. I have always wondered why we don’t have any large scale solar plant in Nigeria. Once a site is identified and security of supply from a solar manufacturer is established, a solar farm of 500MW can be ready in 2 to 3 years if serious. I guess the issue is making these projects bankable.

Agbegbaorogboye:
Are you aware the state of Georgia gave its residents cheques to subsidise fuel costs last year

That was probably a one off thing. Besides compare what you pay in taxes to what the average resident of Georgia pays as taxes each year. Make we no only compare the left side of the equation, we should also compare the right side of the equation too.

30 is a bit young for low libido. If it were like 45, I'd say that's a bit normal.

It's likely your testosterone levels are low.

princeemma69:
Tinibu should cut down on unprofitable parastatals that are gulping Nigerian revenue

Totally agree! There are agencies we have never heard of in this country, adding no value to it's people, yet their staff collect salary.

Temperatures in Houston are currently at about 36 degrees Celcius, which is very hot by Houston standards, even if many of us in Nigeria are kind of used to this. There have been many warnings sent out for residents to stay hydrated, stay indoors etc so that they don't suffer heatstroke and deaths.

However what struck me in all this is that the Texas State electricity regulator and grid operator - ERCOT- expects electricity demand to hit 80,000MW this weekend!!! That is about 16 times the estimated 5000MW TOTAL electricity production of NIGERIA!!

It's a real shame that Nigeria is sooo far behind. Hopefully, the recent Electricity Act signed by President Tinubu can grow our electricity sector significantly in the next 3-5 years.

TermuxDarkWeb:
Nonsense. This man is crossing his bandry, first it was the innocent CBN Governor Godwin Emefiele and is EFCC chairman. He's creating Lifetime enemies, but it will surely hit him hard. Am not surprised it's government of Yourba he wants to fix only Yourba Muslims in higher positions. NONSENSE

How is he crossing boundry. I thought we always say Nigerians are mega corrupt!?

He suspends people on allegation corruption, but we say he's crossing his boundry.

We also need to improve the quality of who gets to university sef.

This idea of focus on quantity over quality is killing us. Especially in the North where cut off marks for their students are as low as 100 out of 400. How can 25% be a pass mark.

Zonefree:

I don't understand.

I paid library fees
I paid for my hostel
I paid for my feeding
I paid for textbooks

So, how's tuition free in government schools?

Before, government go feed you again?

Redoil:
sorry to ask you
do you understand the basic economics of international trade in relation to FX?

You that you know, kindly educate us of the implications instead of asking everybody the same question.

touchLife:
Interesting, my question is where does dangote refinery comes in, will it also tap into the cng potentials too? And what will be the fate of pms, it most vehicles and machines are converted to use cng, what other purposes will pms be meant for?

Are you really asking these questions. How do you forsee a situation where even 10% of vehicles on Nigerian roads are converted to CNG in 5 years? So wouldn't the remaining 90% still use their petrol ND diesel? Recall it ain't free to convert to CNG.

Besides the analysis of CNG costing N100per litre is faulty cos it doesn't follow that 1litre of CNG provides the exact engine efficiency of 1litre of petrol.

Corridon:
Anything for the good of Nigeria is welcome. Only if they won't loot the money meant for subsidy.

There is this constant theme that government shouldn't loot the money being made from subsidy removal.

I think it should be made clear that there is no actual savings from subsidy removal, since we were borrowing to 'afford' it.

With subsidy removal, what it means is that if we were borrowing N10trln as a nation, maybe we can then reduce borrowing to N2trlnbwjicj helps out deficit levels. The idea is not to continue borrowing N10trln even after subsidy is removed.

Asides buying the dual carburator kit, here in the US there are generators that are dual fuel. I. E they use either petrol or gas.

I'm sure very soon our Igbo brothers will start bringing them from China. I'm even surprised that it had not been in our market since, but I guess since petrol has been dirt cheap for decades, there was no incentive for it.

wonder233:
Ozuo, tigernut drink had nothing to do with your dick being hard. This is why politicians are using your heads in this country. You guys are so dumb, same way you're all holding fast to tribal and religious stereotypes while the politicians smile to the bank. Keep being foolish.

I tire o. Tiger nut drink being am aphrodisiac it's just beer parlour gist.

Cowbell521:
The way some Nigerians dey take reason sef. So na today rain just dey fall abi?

He actually has a point. During the peak of the rainy season, the temperatures fall and people use much less electricity. If you don't know, for most middle and upper middle class houses air conditioner consumes bout 30 to 40% of electricity. So when that demand goes away because the weather is cool, it means there is more electricity to go around.

Also electricity conducts better in cool weather. So asides from the demand reducing, the stability of the grid also improves because electricity conducts better, so it's a double beneficial impact.

money121:
https://thenationonlineng.net/what-to-know-about-acting-cbn-gov-shonubi/

Bankers don't make good CBN governors though! What we need are well trained Economists!!

Sanusi did well even though he was banker, primarily because he was also an economist. As well as Soludo.

MetalJigsaw:
You are an idiot for saying this rubbish.

Are you not in this country??

He's tight though. Just to any federal secretariat d see how people who are supposed to be working are just hanging around corridors doing nothing except wait for Nigerians to come in so they can approach them to "help" them.