₦airaland Forum

asamaigho:
Caught d serpent

shukuokukobambi:
Inferiority complex dey worry you. Did anybody mention south east on this thread?

Why are you so unhappy and plagued by feelings of inadequacy?

shukuokukobambi:
those that weep more than the bereaved have started arriving. Why didn't you also hail fayose as the defender of Ndi Igbo and savior of biabia republic?

Pls is there no anambra vs imo thread for you to go and self-service all over?

Abi Ekiti follow for Yeeboe states? warn yasef pls

blues20:
Which simply means he is a political military dictator in a civilian agbada. A leopard does not change its skin; a true saying indeed.
Nigerians should get creative and plan on how to survive this hard time.... because, it may last longer than anticipated.

Paperwhite:
That is ehen! .I Wonder what will be going on now in the mind of the fanatic ones like NgeneUkwenu,Omenka,etc.Well sorry is the consolation for them now.

blues20:
The blame game continues. The incompetent workman always blaming his tools.

Adminisher:
Your parents are the dullards.
You are born victims of a corrupt system and you are too generationally stupid to understand anything.
First of all TSA is the best thing to happen to the economy. Money for development and infrastructure will now go to infrastructure.

You may not realise it but TSA is the only legal way to handle FG money as provided in the construction.

Something more serious.
Nigerians are very stupid people. It is a LIE to say TSA caused recession. It is hype. Please get out a sheet of paper and work it out. THINK about it instead of following hype. All monies in TSA is sequestered in CBN, this money is Naira that eventually goes into the system anyway. It eventually ends up in commercial banks anyway.

The oil market, corruption and our import dependence are the reasons for the recession. The oil.price crash is the single most important of those three.

Anybody telling you TSA is the cause of recession is a cowardly PDP supporter or Buhari hater doing passive aggressive actions against the FG bevause their party lost. If we did not do TSA, the recession would have been just as worse as we have now. The banks are still existing because CBN naira still flows into them regardless of TSA only now they are forced to be an engine of growth by lending to productive sectors of the economy instead of importers.

4Play:
This view is popular but quite naive. Most of the drop in oil price occured in the second and first halves of 2014 and 2015 respectively. Most Nigerians will tell you that whilst things were hard then, they have gotten significantly worse today. GDP growth was 3.86% in the first quarter of 2015 (when oil prices had falled 50%) but -0.36% in the first quarter of 2016.

This suggests that the factors explaining the recent plunge in growth are not simply oil related. Nigeria is not the only commodity dependent state in the world (almost all African countries are). But with the exception of countries like Venezuela, which in any case was in recession as far back as 2013, Nigeria stands apart in the speed with which its currency and economy has collapsed.

Another thing I have noticed is the way people conflate the fall in oil prices with the government's spending power. The government depends on oil for 60-70% of its income - a 50% fall in oil prices will equate to 30-35% drop in oil dollar income. But here is what people forget - the Nigerian government's spending is largely on recurrent expenditure and is largely naira denominated and should not be dramatically affected by a loss of dollar income. I will use a much simplified example for illustration:

Supposing the government has oil revenues of $30bn from oil prices of $100 p/b - at N160 to $1, this will equate to N4.8 trillion. If oil prices fall to $40 p/b but the naira depreciates to N400 to $1 - assuming oil revenues of $12bn (i.e., 40% of $30bn), the domestic spending power will be N4.8 trillion. Of course, inflation erodes the actual purchasing power of money but most government spending going back to the GEJ era has been on recurrent expenditure - things like wages and debt servicing - which are largely unaffected by inflation. This government didn't help matters also by fixing the exchange rate but this is self-inflicted misery.

Remember also that the government's budget this year is the largest in Naira terms, fuelled by borrowing. We are also led to believe that the previous government was stealing with reckless abandon which is no longer the case today. All these should have cushioned the effect of the fall in dollar income.

The reality is that those who just mouth off about the government's income falling by 60% are being disingenous.

homosapien:
The following are the reasons that drove Nigeria into recession.

1- An import Oriented Economy where 90% of what we consume in Nigeria is either made in China or United States. Let me tell you one secret, all the developed countries you can think of today, has a vibrant and functional real sector which can also be called manufacturing.

Manufacturing in the sense that those countries don't plant Coco or extracts crude oil and export, instead their manufacturering sectors turn Coco into chocolate, beverages among other things, turn Crude Oil into pms, diseil, gas, engine Oil etc. And they sell this products to their citizen and export the rest to get foreign exchange.

Let me give you and illustrations on how manufacturers builds the economy using a car. For you to manufacture a car, you need about a million component, and in the process of getting those part, you need sub contractor that will supply you those parts. For those subcontractors to functions effectively, they need raw materials like steel, rubbers, iron woods, which will pass through various process in the manufacturing process.

For that car to be produced, the car manufacturer and it's subcontractors will needs skilled labourer such as welder, technicians, engineers. The list is endless. After the successful production of the car, some will be sold in the local market and the rest will be exported thereby gaining foreign exchange. Suppose Nigeria produce all private and commercial Aircraft, Merchant Ship and Yacht, all the Toyota others brands we use in this country, all your electronics and gadgets including kitchen utensil etc don't you think jobs will be more than sufficient. And TSA will be the least of our problems


Now from the above illustration, imagine if Nigeria produce about just 50% of what we consume, it will have a huge multiplier effects on the following,
High standard of living
Enough jobs that will go round with good salaries
Increase GDP.
The list is not exhaustive

2 the little income we were able to get from the export of crude oil and other agricultural products, IA not been used to develop the Nigeria State rather it been looted by the privilege few. For example, a recent report says Nigeria earn about 215 billions from crude oil within the last five years.

Now the question is what can the government says it achieved with that income. Tell me the sector in Nigeria you can says is operating at the acceptable international standard.

Mr Op, this is the primary reason for our recession and not any TSA and the least we can do is to either support the present administration or disagree with her policy by offering a superior argument.

Peace Out

auxyn1:
Its 2 things

Sudden full implimentation of TSA & FX restrictions.

Those are main reasons we are in this sh*t today.
It's gone too far and to complicated that even a reverse of those policies now may do no good. Its nw a complicated mess.

They were jst stubborn and clueless!

Jesusloveyou:
apc always copy what is good, while pdp always copy what is bad, they copy corruption, apc copy how to cure the corruption.

OrlandoOwoh:
You're not saying hunger is our problem, not this "plagiarism", why? If it's Mama Peace vs EFCC you'll say the government should face the hunger in the land and leave her and other corrupt people. I always wonder if you wailers are normal.

DDeliverer:
Exactly..Jonathan is to blame!

rozayx5:
the illiterate has to lick Aisha azzz to survive

they shud not worry one day revolution will burn down that office where you assemble daily to launder the dullards image

Wadeoye:
Even Obama was severally alleged to have plagiarized - google it.

Wailers should also know there is something we call "fair use" which allows you to make limited use of others work.

Borrowing a statement from others in a lengthy speech to pass a message is no big deal.

chidubem89:
manny the idea was awesome,why government/colleagues no come support the invention,i guess during that time they have bad government just like here in 9ja and talents are just wasting,....it pain me the man later die poor I pray his child will pick up,God bless sCience....(oluwAdubEm)

hamilton62:
i won't be surprised if the fresh process has the release of Kabiru Sokoto accompanying it....
Where is Kabiru Sokoto Lainus Mohameed?
Though we know you can never speak the truth otherwise you'll loss your identity, asking just for formality sake.

Kyase:
[email][/email] Kikikikiki we go meet for politics section.

Weedcrusher:
You are an hypocrite. QED

Science compliments Satanism

What a douche!

yachal:
The pool all the way..I just cant wait

#LIVERPOOL