₦airaland Forum

Fayose should realize by now that no one is listening to him.

If you keep talking when no one is listening, then something may have gone wrong......

Someone said Nigeria is practicing pseudo-democracy and not democracy.

Another person called it democrazy!

We are possibly not ripe for true democracy...Decent people have no access to political offices, except in few instances and as long as we have these strange characters there, there may not be any end to scandalous behaviour.

Sad.

Rexphobia:
Can I quickly respond? Why do we have to defend the naira? Why can't the forces of demand and supply give us the true worth of the naira. Even if a free fall is the cost we have to pay for it.

There are several things you need dollars for other than pay for school fees... A thousand and one services are paid for in dollars and we sure don't offer them here.

Let's think about a saner way to battle this? The solution to all economic problems is not embedded in controlling the volume of money in circulation. You and I know that

Please is CBN a regulator or spectator? Because I don't understand why the regulator is trying to distant itself from the draconian foreign exchange restriction? So the banks are now autonomous? . Silence is still golden.

Well, for too long we have relied solely on oil exports for forex. Now that ommodity has lost significant value in the market. We will suffocate our economy if we just leave everything to the dymanics of demand and supply when we know pretty well that we have a lot of local demand for USD and we have little (and less and less of) supply of USD. In fact the real problem is that we export crude oil at give away prices and import refined oil at exhorbitant prices. It is a silly thing to do. It takes 2 years maximum to build refineries big enough to meet local demands! Yet, we have not done so. I cannot explain why! But to allow a free fall is to throw a death penalty on our economy. Dont forget that if Naira is devalued 50% today, price of petrol in filling stations will go up by at least 25%. Will that not throw the country into crisis? With an army of twenty five million unemployed youths, how would they move around to fend for living with a free falling currency that will lead to a free falling price of petrol at the filling stations?

We cannot keep consuming what we dont produce and expect our economy to improve!

Let the CB find solutions - quick ones - for students who need to pay fees. But to allow Nigerians LIVING abrod to save Naira and spend dollars, that wont fly. No sane country does that!

TheSixthSense:
How else when they've stopped forex deposits into domicilliary accounts and you think people shouldn't protest?

Ask any senior banker and they will confess that CBN has allowed dollars deposits to a certain limit (think USD10,000 per month) to cater for travellers and those who need to send monies to their wards abroad. For whatever reason, the banks are yet to comply! So, there is no blame to the CBN on that!

Originally, ATM was meant to enable Nigerians travelling abroad to collect up to USD500 per day. That left an opening for millions living abroad (many of these are not students). It is difficult for Nigeria to fund this if we dont want to pile up external debts at such a high interest rate. Imagine that the western countries peg 1% rate on their own internal funds and apply 21% rate when countries like Nigeria borrow. Should we keep piling debts for future generations?

I pity the students. I pity the travellers. Let the banks start accepting USD as directed, so that USD can fund USD. That makes some sense. Yes, Naira may lose value, but that is the cost of Nigerians always CONSUMING what we dont produce!

You want to put Naira in your account in Nigeria and withdraw dollars freely abroad! Where would Nigeria have all the dollars to fund that. with the oil price fallen to by more than 60?

Does it occur to anyone that allowining free withdrawal (dollar against naira) will result in huge dollar debt for Nigeria over time?

Is there not an avenue for students to have their fees transferred officially instead of via ATMs?

The protesters need to push their argument clearly. Otherwise, it is simple commonsense that you cannot dollarise your economy, unless you want to pile up debt for future generations. Common sense.

If we had saved forex when oil was USD100 plus, it would have helped a bit. But with dwindling reserve CBN has to look for ways to curb DOLLAR consumption. We just cannot continue to CONSUME what we dont produce and expect FG or CBN to do magic.

Please think before you talk. Read before you comment. Common sense says so..

Ugomba:
Misplaced priority

I think it is beyond that.

THERE IS OBVIOUSLY SOMETHING WRONG WITH THE BLACK MAN. GIVE HIM MONEY OR POWER AND HE JUST GOES INSANE! IF HE IS GIVEN BOTH AT THE SAME TIME THE INSANITY BECOMES RAISED TO POWER FOUR OR MORE.

Merry Christmas, honourable Patrick. May you live long!

Ministry of MisInformation!

When are they going to protest the evil of their brothers in Syria?

That is equal to 20 billion dollars. Its no news in that case.

Did they call it church?

Is there any word church there?

That it is a cathedral does not make it a church.

And I suppose the leader is not referred to as general overseer!

SO MANY COMMENTS, AND WONDER IF THEY READ THE STORY. THE OTHER OPTION LEFT FOR THE CAPTAIN WAS TO RETURN THE PASSENGERS TO ABUJA. IF YOU WERE IN THE PLANE WOULD YOU ACCEPT THAT?

WHY BLAME AERO? THEY AIRLINE IS NEVER RESPONSIBLE FOR GROUND OPERATIONS!

THAT YOU OWN A BUS DOES NOT MEAN YOU CAN OWN PALMROVE BUS STOP.

BAUCHI AIRPORT IS A PARK FOR PLANES. IF I WERE THE GROOM I WOULD GO WITH THE 'LADDER' OPTION. PURE SIMPLE AND SENSIBLE.

NOW LET FAAN TAKE OVER BAUCHI IMMEDIATELY AS THE STATE GOVT IS UNFIT TO MANAGE AN AIRPORT.

Yet another summon....talk, talk, and .......what?

[b]As long as the system is largely corrupt, the rulers will always find a way to cheat the masses, using resources that are commonly demanded - light, fuel, water, transport, security.... They do not even mind carting the money away at source and sharing among themselves. We had a leader under whose watch funds meant for procurement of arms to fight a deadly enemy was simply shared among friends, in billionistic proportions!

Subsidy is not the problem, corruption is.

Many Nigerians do not mind removal of subsidy, now that oil price is so low. In fact in an efficient pricing system there is possibly no subsidy left! Its not really subsidy that is the issue but corruption. In the real sense, there is perhaps no more subsidy to be removed. If you cannot get efficiency into the production, importation and pricing, the public will still be cheated whether you call it 'subsidy cheating' or 'pricing cheating'

PMB should not fall for this. Deal with the corruption if you'll ever deal with the problem.[/b]

It seems OLisa and is SA are the only ones left in PDP!

The 'normal one' must have contributed to this by beating the so called 'special' convincigly at Stamford Bridge.

Never call yourself special because no man is!

You can get into trouble if you ever call yourself 'special one'!

I pray he learns from this.

James 1:27
Pure religion and undefiled before God and the Father is this, To visit the fatherless and widows in their affliction, and to keep himself unspotted from the world.

Killing in the name of God cannot be from God. The Saviour is still beckoning. Accept Him today. Pure peace follows.

Who hired this man and who was his suervisor?

The supervisor should be answering questions now.

What a shame.

All the Nigerians shouting 'well done' over MTN fine should think twice. Abacha loot, in spite of the immense legal costs to Nigeria, has ended up in private pockets (at least some of it as we can see).

How are we sure that MTN fine will not be shared if MTN ever pays?

There is a feeling that the states are already waiting for it...so that the sharing can continue.

Jona....why now?

Even in crimes Nigerians know how to observe national quota!

Nigeria has some very corrupt anti-corruption crusaders!

ANYONE WHO KNOWS PROF WILL TELL YOU HE HAS ALWAYS BEEN LIKE THAT. AS A LECTURER HE WORKED SO HARD. [N HIS CHAMBERS AS WELL. THERE IS NO ONE TO MATCH HIS ENERGY IN THIS PRESENT FG.

LET US JUST PRAY FOR HIM. HE MEANS WELL.

THE ADVICE IS VERY GOOD THOUGH. I HAVE ALSO MADE THE SAME OBSERVATION.

HE HAS TO SLOW DOWN. HE HAS TO TURN DOWN ON SOME EVENTS. HE SHOULD RELY A BIT MORE ON HIS CAPABLE ASSISTANTS.

God help us.

WHAT IS THE MEANING OF THIS CYCLICAL SUMERSAULT OF A MOVEMENT FROM OUR PEOPLE?

$500 MILLION TYPO ERROR!

I THINK IT PORTRAYS US AS UNSERIOUS.....

On face value that Translates into bigger recession...Is that what the country needs now when other nations are looking at growth!

One sided comment.

Why should FG be controlling all the resources in the country? That is the othe side of the coin!

The votes belong to the people and the people are still alive.

In an election 2 things happen - One candidare is voted in and another candidtae is voted out.

In this instance, the current Governor has been voted out.

The people have shown him the door!