₦airaland Forum

TheRareGem1:
Thank you Former Vice President Prof Yemi Osinbajo for detecting this faud that happened during gej administration

When I said Gej wasn't a saint. He and Madueke looted everywhere!

Good one!

GerogeI:
First our GDP is not insignificant, so we do not have forex issue cause if IOCs remittances, but because of a dumb Government, they have no idea of what a free market is. They floated the Naira against foreign currencies which is creating foreign currency demand, without floating foreign currencies against Nairà to create Naira demand in order to arrive at equilibrium pricing.

That's what you are calling IOC remittances. Basically, for you to float your currency, your exports should be in your currency. So foreign importers will approach your banks to get your currency in order to buy your items. They will have to haggle with your bank for an exchange. Basically your banks will be negotiating for more dollars for less Naira in order to make profit. That drives exchange rate in favour of Naira.

But now, we only have local importers going to ask banks for foreign currency, banks and bdcs must make money hence they will negotiate for more Naira for less currency. That drives the exchange rate against the Naira in a bottomless spiral without counter balance.

If you do not have demand for raw local currency, and demand for raw foreign currency in the market, float one of them is a stupid idea, cause there is no counter balance. It is not a free market. In the Current case, the exchange rate will not favour Naira even at 10,000 Naira to 1 usd it will still be sliding down against USD. The fall is bottomless, that why it's stupid plain and simple.



Why do we not have foreign demand for Naira, the Federal Government and politicians want easy access to USD. It makes money laundering easy. If you visit any ministry in Nigeria. Listen to the directors, they do not talk in Naira anymore. They are all dollarized. So just like Russia started selling oil in Rubbles, Nigeria must first sell oil and all other exports in Naira before floating the Naira. That's why past Govt. Maintained fixed exchange cause they want CBN to collect dollars for them. This one still wants CBN to collect USD, but wants to play with the idea of floating Naira to please western interest in devaluing African currencies to get cheap raw materials. Basically it was to buy for the controversial govt. Legitimacy in the eyes of the West.


Only countries with huge manufacturing like China, or Germany can benefit from currency devaluation. Like
you said, Raw materials exporters like us are better of with commodity based currency like gold, which the West have carefully killed since colonisation. If you use any commodity as money, it is resource based economies like Africa that benefit. If you use paper based manipulative currency, the technology based economies like West Benefit.


This warped decision on floating is my only reason to believe that Tinubu was never an accountant.

Floating the currency was a good idea if Buhari and his cabals didn't already sell off huge amount of crude oil for looting like Reno Omokri stated. There's little money in the country as we speak thus the floating of currency.

The floating idea is to ensure the more export goods are sold in dollars, it means more naira in the country thus getting a lot of things done. However the problem is Nigeria is more of an importer than an exporter which needs to change. It will also be an avenue to checkmate importers thus making a lot of people think home to export more since they will get more money for their exported products. however the problem is some people in the country are quite corrupt themselves and would even want to use it as an avenue to cause inflation in the country. Besides, the lack of refineries too. Several thought the rehabilitation of Portharcourt refinery was already completed, added with Dangote's refinery but what Tinubu didn't know was none of it was completed, even though Buhari commissioned it.

Point was if there was functional refineries to ensure fuel and even food were cheap in the country, no one would care about dollar rate in the country while more people & industries would spring up and embark on more agriculture for exports, as well as create things to export out while bringing in more money until the dollar to naira eventually fall and stabilize. At that point of stability, there would have been a lot of industrial spring up and agricultural revolution.

This is sad and annoying.

SaltyAisha:
My dear Tolani doesn't see the horse faced sycophant anymore😁! Do u know why she refused granting interviews? Seeing how hopeless Nigerians bloggers will milk it.. She vehemently declined cos Neo at the moment and all questions related to him disgusts her!

Lol. Well, I hope she doesn't take him serious out there.

Whatzup with Adekunle and Venita with their odd ship though? Or Adekunle don run away to go live his free life without control as usual? 😂 Lol.

I have always kinda felt it 'might' not work out there despite the attraction 😁, considering some factors and also the fact that they're both polar opposites of each other. One likes to scold and control whereas the other doesn't like to be controlled. Funny I kinda realize that Adekunle's oddity is probably manifested through his actions/situation he found himself among others. Like how he refused to asslick a cartel like he refused to asslick provocative Shegg unlike how all the guys were kowtowing to Shegg in level 1 OR he found himself in an odd ship different from others. Anyway, if he and Venita could compromise though, who knows? Anyway, Good Adekunle was able to help Venita's game in the house.

SaltyAisha:
How will he tell her!! Neo did the usual nonsense he does by leeching on Abroadians same thing he did to vee in lockdown! Tolani should have seen through him long ago but I guess she just wanted to give him the benefit of doubt lol

True, Tolani shouldn't have taken him serious on the show and the reason why I hope she doesn't do same out there like she did on the show.

I was mostly indifferent about their whole thingy on the show tbh. I kinda hollered when Tolani later turned back the whole cockblocking on him because Neo deserved it on the show. Lol. But out there tho, Tolani shouldn't take him serious.

It actually reminded me of some of Yemi & Khosi shenanigans. Where Yemi stopped flirting because hypocritical Khosi asked him to stop flirting, even though she was equally flirting with other guys from the beginning while saying stuff about Yemi to the other guys unwarranted in her bid to seek attentions from the other guys. Since she asked Yemi to stop flirting, he turned it on her and asked her to be boxed with him like she had done to him. Only difference was it took Yemi a while before he stopped flirting which was quite intense and he's always had several options to get back with on the show but Khosi wouldn't let him because she always blackmailed him with tears and the threat of disqualifying herself.

But like I said, Tolani shouldn't take Neo serious out there though.

SaltyAisha:
See Star Quality radiating in her naturally☺️This can never be olebaye even if she steals the most expensive cloths😁😁😁 As for neo he is just bottom barrel leech! Tolanibaj has dumped his sorry ass and he has moved to pere who is also desperately living off the Percy shipment lol...A Blessed Birthday to Tolani she deserves better jor💖

Kingcid:
My lockdown fave

God go punish Neo Sha

Lol.

Neo is free to do whatever he likes though.

I only wished he had told Tolanibaj at the beginning that he was dating Beauty before the show rather than deny Beauty and other girls to her face when she asked him on the show. If he had told her about Beauty on the show, Tolani wouldn't have stopped flirting with the other guys who were flirting with her at the beginning of the show. So I know it will probably be the same thing out there with Neo telling her stuff, hence I hope she doesn't take him serious out there, regardless.

Happy birthday to my beautiful Chicago baby, Tolanibaj. More grace and happiness to her. I hope she doesn't allow any toxic fool's gibberish get to her. Well, she's a bit of tough cookie with enough bluntness to shut up any idiot saying gibberish about her. I mean she's always been one of the least problematic Housemates on the show yet useless fools who support the toxic ones won't leave her alone.

I also hope she doesn't take Neo seriously out there. Lol. She should have seen tape by now to know that Neo was just playing around, regardless of whatever he was telling her on the show while cockblocking her from other guys at the beginning until she later turned the cockblock on him. Lol😂 My beautiful possessive baby, let go. A happy belated birthday to her.

Just imagine! All of them should be sanctioned and jailed.

Dsimmer:
Of course Africans and those in North Africans such as Algerians are not same. We're Africans while he's an Arab man whose useless ancestors enslaved Africans and stole North Africa during their useless ottoman empire 🙄 They would soon be sent out like their fellow useless terrorist counterpart were sent out of Isreal ancestral land.

Good The Europeans are differentiating the Africans from the useless Arabs in Northern Africa! 😑

It's even their useless audacity! 🙄

drlateef:
Even Somalis don’t regard themselves as Africans when they are abroad. What a shame.

Of course Africans and those in North Africans such as Algerians are not same. We're Africans while he's an Arab man whose useless ancestors enslaved Africans and stole North Africa during their useless ottoman empire 🙄 They would soon be sent out like their fellow useless terrorist counterpart were sent out of Isreal ancestral land.

Good The Europeans are differentiating the Africans from the useless Arabs in Northern Africa! 😑

mrvitalis:
You said value of £19 is like #19 naira...

Bro have a nice day

Yes. Over there. £19 is nothing there.

Not in Nigeria.

mrvitalis:
A train ride between cites can cost anywhere from $50 to $500 depending on distance and class you book

How many Nigerians can afford that... How many would do that

Is their enough critical mass for the train to break even?

A pre-booked train ride in UK is £19 which is the value of their money over there. £19 is like N19 over there.

Speaking of the value of naira, apart from the problem we have encountered such as looting of our Forex reserve, failure to build refineries, invest in electricity, agriculture etc, I will always blame those who came up with multiple integral naira notes ideas such as 20 naira notes, 50 naira notes, 100 naira notes, 200 naira notes, 500 naira notes, 1000 naira notes etc. I don't see why anyone should have come up with such useless stupid idea which only encourages looting, inflation and destruction. Most countries have only got one note. Such as 1 dollar. 1 pound etc..

mrvitalis:
Lmaooo check the average price of rail transportation around the world and compare it to bus transportation

Some of you think economics is about emotions... If Nigerians are rich enough to afford rails companies would build rail

No passenger train in Nigeria now can make 30% it's running cost even if they operate at 100 capacity


You know nothing oga am done with you

How much is the cost? You tell me.

UK, USA, Japan, Korean, China uses rail, even in their remote areas.

Like I already told you, Tinubu isn't responsible for the failure to build refineries, electricity, agriculture etc

mrvitalis:
Rail in Nigeria is like building a hotel in a poor village

No rail in Nigeria is near break even they are big money waster... Nigerians are too poor right now to start thinking of rail

The only rail we need now is locomotive rail for goods and raw materials movements and he had those since 1960s

Bros like I said you know nothing about economics

You're the one who knows nada. The cost of fuel would have been non factor if rail was accessible in every region and state! What you don't know is Infrastructures spearhead development!

My main point is Tinubu wasn't responsible for the failure to build refineries, electricity, agriculture etc

mrvitalis:
Smh bros this is not your APC WhatsApp group

Get lost abeg

What useless WhatsApp? Stop projecting what you headless mobs do. Same Headless mobs who can't even understand simple student's transcript!

I simply stated facts here!


OBJ mentioned Tinubu as being instrumental in the rail agreement with China however Jonathan sabotaged the effort until Buhari who granted it.

We also know for a fact that OBJ frustrated Tinubu's efforts on electricity investment!

Lastly, Tinubu was part of those who brought in telecommunications investors and invested in .

Now, one thing you can't do is to blame Tinubu for the failure to build refineries, electricity, agriculture project etc because that would be stupid.

mrvitalis:
Government don't need to invest in Refineries, government didn't invest in telecom sectors they only made it favorable for private sectors to come and invest

Private sectors can come and build refineries because Nigerians are too poor to pay the international average price for petrol which is $1.1 to $1.2 dollars

Tinubu was responsibile for telecom? Because he invested in econet? Lmaooo was he the only one? Akwa ibom ans Delta invested too

That was only posible because PDP amended the law to allow pricare players come in... Private sectors came in because Nigerians could pay international average price because naira was sufficiently strong


You don't know basic economics and it's obvious

No, Tinubu was part of the people who brought in the telecommunications investors and invested in but had to meet with the federal government.

Did you know the federal government (OBJ) frustrated Tinubu's efforts on electricity investments while he was a state governor? The federal government also frustrated his investment on rails even though it was for the whole country interest, which were eventually signed with OBj but Jonathan continued to frustrate it until Buhari came in and granted it.

Tinubu would have probably sanctioned the investment on refineries but it wasn't in his place as a governor and not to mention the fact the federal government was constantly frustrating his other efforts such as electricity, rail etc.

mrvitalis:
All this APC people sha

PDP government creates massive industries massive industries you see today

Music, telecommunications, Nollywood cenima movies, let me not even go to ICT, or poultry business and catfisj farming

Improvement of cucumber and watermelon farming people make millions today

You think it was by chance we had one of the fastest growing economies? Lmaooo

PDP was corrupt yes but they were miles ahead of APC

PDP took over from military yet grew the economy, reduces debt

What has APC achieved? Tell us

Tinubu unguarded speech brought us here

Now subsidy is back ( them no born him papa well to remove am) naira is pegged... So what they hell did he achieve with those reckless statements

But here you were saying they were investing in telecommunications etc and not in refineries, electricity, agriculture etc? Did the people in PDP invest in refineries, electricity, agriculture etc while they looted? The chicken have finally come to roost. Meanwhile, Tinubu was actually responsible for telecommunications investment even while he was only a state governor.

mrvitalis:
Ur all this this are done nothing would change.. In fact they would fail woefully like tinubu policies

You like most Nigerians don't know difference between our problems and symptoms of our problems... We have been treating symptoms since 1970 and it has failed woefully

Everything you listed here are basic symptoms

Let me ask you, why do you think foreigns bring billions to come and invest in our banks, telecom, oil and gas

But refuse to invest in agriculture and electricity that much or eceb build refinery?

Go and listen to all Peter obi interviews... Slowly this time you might understand

Insecurity is not a problem... To solve insecurity you would have to solve the other fundamental problems

It was because all the previous government didn't embark on these but rather looted. It's simple as ABC! Take OBj and Atiku who looted the money meant for electricity for example. Or is it Jonathan with his wife and Madueke and Obi (who was Madueke's accomplice) who looted everywhere while refusing to build refineries and electricity? Or Buhari, Emefiele etc who also looted everywhere?

I hope all of them are called out and sanctioned!

That said, Tinubu needs to ensure his regime is different by embarking on these projects such as agriculture, refineries and electricity and security.

Of course Nigeria also needs true federalism back to its place, like it was in the old time.

TruthIsBitter02:
But he should at least start somewhere na. A journey of a thousand miles start with a step. Which one has he started? And he fully supported this same government that looted us dry and saw nothing wrong in what they did then. Common, use your head for once

Who told you he's not embarked on refineries project, agriculture, electricity etc?

TruthIsBitter02:
And whose duty it is to build refineries, provide electricity and security? If Tinubu has any idea on how to fix Nigeria he should hit the ground running from day one. Enough of all these excuses, the man is confused and doesn't know how to even start, that is why the only thing he can boost of achieving after almost 5 months is the appointment of Yorubas into keys positions.

Build refineries, electricity and agricultural supply in 5 months? Have you forgotten the Forex reserve was looted while Nigeria was sank into lots of debt?

Nonny95:
Lmao.

Tinubu supported Buhari twice, the employer of Emefiele.

So are you saying Tinubu still supported a second term for APC despite the mess of Buhari and his employee?

Well, he wasn't the one who looted the forex reserve.

The same Emefiele is languishing in jail for looting our Forex reserve!

Point is Tinubu just got there and a functional brain would know he wasn't responsible for Emefiele who looted our forex reserve and those who refused to build refineries nor improved electricity etc while sinking the country into huge debt!

Anyway, I think the best way to curb all the mess is:
1.More agricultural produces & agricultural industries in each region.
2.Build refineries.
3. Curb insecurity (indigenous state police and indigenous vigilantes should be enabled in each state).
4. Improve electricity.

If all these are embarked on, there would be an improvement. If fuel and food are cheap plus adequate security & electricity in the country, no one would care about dollars.

We had little debt and the forex reserve was good enough. Something good which OBj did at least but he failed to build functional refineries while he and his vp, Atiku looted the money meant for electricity!

So Jonathan met little debt and good reserve when he came in at the time when oil was also selling high but what did he do? Looted our forex reserve and got us into some debt without doing anything tangible nor built any refineries or electricity. Buhari came and sank us into large amount of debt while also looting our forex reserve and refused to build any refineries!

opamoses1:
We are getting somewhere. Arabs own that own region. If Abraham was alive today, he would easily pass for an Arab afterall, Abraham is originally from present day Iraq.

Of course Abraham was an Arab man but his descendants were different from Arab tthough. Abraham's descendants have a combination of Blacks, Semitic and Whites whereas he was only semitic.

Jacob for example was said to be of different color from his twin brother, Esau who was red in color while the two of them were declared to be two nations. Of course Jacobs' children would have been a mixture of Blacks and Semitic and the fact that they stayed too long in Egypt and married a lot of Blacks before returning back to Canan. I wouldn't be surprised if Joseph was a black man considering he stayed in a black Egyptian country, so who knows however he married a black woman. Moses married a black woman too and was even mocked by his brother and sister. Judah also married a black woman. Solomon was a black man too. I think Jesus could have been a black man, considering his parents went to hide him in Egypt for some years.

In essence, Abraham's generation had lots of blacks among them, starting from Jacob to other generation who also mixed with the whites during the Roman empire and while they were displaced into Europe before they returned. So, the Israel are combination of whites, blacks and semitic while the Arabs are only semitic.

That's just btw, point is if we want to bring in the Cananites into the equation, then the Arabs have to fvck off Saudi Arabia and go back to Iraq where they came from. One main fact is the useless Arab terrorists are not contented. If they were, their useless selves wouldn't migrate and take Isreal part nor would their useless selves come to North Africa with their useless ottoman empire which they had wanted to build in Africa until it was destroyed!

opamoses1:
Depends on how far you go. The Canaanites whom were the original settlers of that region we call Israel/Palestine were 93% Lebanese, and Lebanese are Arabs.

The land of Canaan in the Bible refers to the ancient geographical area God promised to give to Abraham and his descendants.

If we're to talk about the Cananites, then Arabs have to also move away from Saudi Arabia to Iraq because the whole Middle East desert belonged to Cananites who are Blacks whereas Arabs came from Iraq! But the Arabs weren't contented with Saudi but kept stealing, even in North Africa and also wanted Isreal part who dealt with them. Their useless terrorist selves had better fvck off North Africa.

StOla:
Christian or Muslim, they mean the same to the Jews.

If Jews can lay their hands on Jesus Christ, they will crucify him again and ask that a Jewish terrorist be released in his place.

I repeat that it is the British that caused all this problem by allowing Jewish refugees from Europe to come settle in Palestine among the majority Arab.

Till 1919, the region known as Palestine had 90% non-Jewish population, and this was despite that 2 migration waves of Jews had already arrived since the late 19th century, in what is known as the 1st and 2nd Aliyah.

That the world regard Arabs as terrorists today, is all down to the illegal occupation of Palestine by Jews who had no business setting up a new country there in 1948. Israel is largely responsible for the instability of the Middle-East region by its mere illegal existence on Palestinian land.

Otherwise, the Arabs with their Islam would just be the way the UAE/Qatar/Saudi-Arabia are with their societies that are religious, but peaceful and prosperous.

Many Christians in Nigeria are looking for means to go make that Arab money in the Middle-East, working as Oilfield Workers and Experts, IT Experts, Medical Experts, and unskilled labour.

The Christian Europe is enjoying lots of investments from the Arab world as much as it also receives refugees from the Arab world.

All the anti-Arab and anti-Muslim hatred has largely been orchestrated by Jewish propaganda that carefully identified the Arab as the new fall guys for global hatred - a role the Jews had previously occupied with genocidal consequences for the tribe as seen with the holocaust and all the discrimination they had suffered in the hands of Christian Europe over the ages.

No one gives a fvck about one nonsensical foreign religion. As a matter of fact, if the pedophilic useless terrorist Mohammed was around today, he would been declared a terrorist and dealt with, like his fellow useless terrorist Osama bin laden was dealt with!

However, the major point was Arab migrants migrated to Isreal ancestral lands, just like they migrated to North Africa. The Isreal who were displaced returned back to their ancestral homes and they have every right to return and exist in their ancestral lands which are all in Hebrew names, not Arab names! Meanwhile, it was Arabs who first attacked the Israel who have every right to defend themselves in their ancestral homes!

orisa37:
BANKERS ARE THE TRADERS IN THAT MARKET. I MEAN BANKERS ARE THE BLACK MARKETERS IN THAT MARKET.

They should be rounded up and jailed then!

Imagine. Everyone responsible should be jailed.

kk2027:
Dollar today $1130

By ensuring Buhari return the forex reserve he looted with Emefiele without building refineries.

What are the usefulness of all these thieving senators and house of representatives thou? Most of them do nothing for their states but just eat waton. Their money should be the least as a matter of fact. In fact, those in political positions aren't better than the people.. they're called there to serve, not to eat waton over the people!