₦airaland Forum

m140:
Is everyone sitting at home cus of those 50 diseases?
Was Ebola global?

Ebola was not global because it's a ruthless virus that kills fast, so it was easy to isolate the infected. SARS and MERS are also more deadly, but they kill fast and aid isolation of the infected. My brother, if coronavirus were allowed to do it's worst, it will kill approximately 3% of the world population. If some Wise country thinks that a 97% Russia/China/US wouldn't come back to END them, then I take the wise back. Plus, when push comes to shove, from Russia to Canada, they all agree they are one. Don't let their wrangling throw you off.

MrPaul2:
I laugh you in Spanish, Developed country thinker. Lol
Did you see drugs and vaccine in the post I sent you? And the you consider the level of spread.
Is Modakeke and Ife war a biological weapon or juju, village man thinking

You've typed many letters but said nothing. Again, the developed world collaborates. It's in Modakeke vs Ife that is fight to finish. Again, only non-state actors can use a biological weapon at the moment.

If you don't know, Inserts can be added to viruses that currently exist to make them more contagious. As for mentioning vaccines, I'm was pointing you to the depth of global collaboration. Google is your friend.

MrPaul2:
its very true, what if you humbly give them without force and allow them go with it with and more toxic virus that will kill in few hours and trasmit among them vigorously that they can't even make use of it?

They will beg you for the vaccine with an MOU never to try it again. Don't even try the wickedness of biological weapon my dear, its 99% powerful than any bomb.

Bomb and biological weapon is just like trying to wipe out a family and then two grown up that can revenge escape with the identity and home address of those that killed their parents. You know what that means

Developed countries don't think this way -- that is Modakeke vs Ife level. All major powers have viruses way more powerful than coronavirus. In fact, the lab running coronavirus test in Wuhan was jointly managed by Chinese and Americans; the US version of the same is in North Carolina.

World powers avoid using or discussing biological weapons because it's mutually assured destruction. If you give it to someone else it will come back to you. That's how it works. Global leaders are mostly on friendly terms individually (Trump/Xi/Putin), they just play movies for the masses worldwide.

m140:
I guess it's not killing those that are world power

Is this the only disease killing? I can name 50 deadlier diseases, so if you solve one doesn't make you a world power. It was a British/American arrangement that solved Ebola. Did that change much? This disease will pass and US will still remain #1, China/Russia #2. It's not going to be British, or any other country that comes up with a vaccine. In fact, they are all collaborating at the moment and testing vaccines. For example, the company that financed the successful Ebola vaccines was British, but the research company is American, with it's main research unit is in Israel. Scientists, even American and Chinese, work together on cures (the lab in Wuhan was partly financed by the US). Even on coronavirus, despite all the political back-and-forth, the scientists are in constant touch working on this and sharing results. They let the politicians do what they do -- talk! In Africa we are always caught up in this all-or-nothing-who-win-who approach; that's because most of us have never known a good life and need to WIN somehow.

AtikuNetwork:
Did China ask the permission of the West before becoming a 'producer economy'? When China started taking its economic destiny in its hands, didn't the Western institutions such as the IMF and World bank expect them to fail in the process?

When China embarked on ambitious developmental projects to multiply its GDP and productivity, did the Europeans and Americans give them the go-ahead? No. They just damned them and did what they had to do to get their people working and productive, thereby dramatically increasing their GDP in the process and creating value, and all the while the West was predicting their doom and shaking their heads from afar based on their own invented standards contained in their 'economic notebooks'.

Isn't the same China a respected country today? How do you think China would have fared if it had put its destiny in the hands of the IMF and World Bank? I bet you they would be nowhere near where they are today!

You because a Producer economy by having a critical mass of knowledgeable people; Africa does not have that. No one gives anyone permissions for ambitious projects, but what if you don't have the capital. A lot of factories in China are financed by Westerners. When Westerners design products and they figure it's too expensive to produce in the West, the call a producer in China and finance it entirely. Plus, China is not as rich as you think when it come to per capita income; the West is far ahead. China needs the West more than the West needs it. Production can easily shift to South Korea, Vietnam or Indonesia. Until Westerners start going to China to find work, China is still far behind. There are Chinese people flooding to yankee daily -- that is not a sign of seniority or peership.

AtikuNetwork:
I like the direction of Kagame's suggestion. Though I don't know how workable it would be under a democratic dispensation due to the wrangling and divisive nature of democratic systems and politics. In my opinion, the likes of China and Singapore couldn't have developed as quickly as they did under a liberal democratic setting. Even Hitler had to appropriate dictatorial and authoritarian powers to achieve everything he was able to economically during his time. Dubai that everyone touts as a model of development today is also a product of a dictatorship. It just seems like the Caucasians are the only ones that tend to attain commendable development under democratic systems. At least that is my personal observation.

I think development can only come in a restructured Nigeria, and under a 'benevolent dictatorship' setting And if our economic fortunes continues to dim with he whole COVID-19 situation, I see Nigeria restructuring by choice (or by force on the near future) even.

My proposition would be that the geopolitical units of the country draw up developmental plans that will be hinged on mass education in STEM, and human capital development. And begin increasing local capacity so that there would be less dependence on foreigners for the simplest of tasks and projects. An aggressive project of modernization based on local capacity should be embarked upon. We already have very educated and capable Nigerians that can be called upon, that have enough expertise to make this happen if the will is there. Just like the Chinese, we need to become more self-reliant.

We have well educated Nigerians but no critical mass of such. Look at this site: while a lot of folks on here are educated, they sure don't sound like it. As for dictatorship being the better method, it's gains can disappear quickly. For example, in China, they cannot use the internet like you do even in Nigeria. At some point the are going to have to and all the gains can unravel. And China is not self-sufficient, they need massive capital investment from the West. As a matter of fact they are nervous right now, as the West might start to change it's supply chain. If China goes into a deep recession, the whole country can unravel in months. Democracy, if well implemented, reflects the combined will of the people; dictatorship is usually one man's or groups will on the ALL. Please pick holes in my arguments.

sunshineV:
Corona virus is a bomb

No as nasty a bomb as Ebola, no?

MrPaul2:
this is not true, it has been proven from this pandemic that biological weapons has the greatest power not physical weapons. Where are the so called world power now? They have been humbled with this small virus, now just imagine its a death sentence kind of virus of which only one country has the vaccine and drugs?

The folks with bombs will go take it forceful. BTW, all humans have been humbled.

jonnyjustcome22:
Bomb don't make world power anymore is how strong the economy of country.

My brother, Australia has perhaps the strongest economy in the world but no bombs, so they just hold them side. Denmark, Switzerland etc...

omoadeleye:
This time around will not be bomb alone but biological viruses... So bomb is outdated

Until this disease is gone, no?

m140:
Guess bomb go cure coro bah

Please stay within context.

m140:
Bro , you sure.... power wey no fit cure covid na fake power

Is that even reasonable? Disease has been around for only a few months. I will take at least 18 months to properly test a vaccine. Is man God?

sammyj:
So the curr for thys biological weapons isn't good enough to make you world power !!!

My brother, every world power has serious biological weapons way more dangerous than COVID.

AtikuNetwork:
Which of the economics notebooks? The big powers have been breaking the economic rules and getting away with, but Africans dare not try it. America is more indebted than any other nation of the earth, yet their money no dey ever finish. Why?? Left to the West, the Chinese would never have risen to prominence economically in spite of their communist history, yet China rose to its level of development without the World Bank and IMF breathing down their necks.

Look, the economic notebook model you are touting was rigged to never work for anyone except those that wrote it (and even they break those rules yet they never suffer any consequences). Hitler didn't have to toe the line of the WW1 Victors to lift up Germany from the ruins. He simply rewrote the rules and made it work for Germany.

My point is that all these years of IMF and World Bank inspired economic policies have not lifted Nigerians and Africans out of poverty so your textbook economics will not cut it for us. We need other solutions.

I appreciate your attempt at a reasonable conversation. I'd like you to answer a basic question on how it will work: Will more paper not be chasing the same goods, inflating prices? US dollars, pounds, yuan and Euro are in demand (US dollars full politicians across the world soak-away so can't inflate); that's why they can do that. It's called Eurodollar: dollars outside the US. I'd appreciate a measured and respectable conversation like we've had so far. LMK.

sammyj:
If UK get this vaccine sorted out first . Then the Americans and the Chinese will have a lot to loose!! The world power might to UK if care is not taken as everyone will look towards them!

Incorrect assertion! It's bombs that makes world powers these days, not cures for disease. UK medicine is already among the topmost so not much will change.

Goldencheese:
While this may go against simple Economics the arguments laid out make it very attractive and something to be considered by African nations. I listened to a podcast that that was exactly what China did. I think it is worth trying.

China can do that because it's a Producer economy and it's currency is in demand, albeit mostly in Asia. Only the US & Europe & China, can pull that at the moment. If we do that, like Zimbabwe, bread will cost N100,000.

AtikuNetwork:
I admire the boldness and innovativeness of the idea. Africa needs to find homegrown solutions to its problems if it is to ever really develop at scale. The IMF/World bank model has never helped us. Upon all the borrowing we have been borrowing since 'independence', we still aren't developing appreciably enough. In the end we will go and still beg for 'debt relief' from the same developed countries that are in far more debt than us multiple times over, and these same countries don't hesitate to borrow and print their own currency when and anyhow they feel like it.

The coming post-covid era is going to be brutal for Nigeria and Africa economically, due to dwindling revenues. Most African countries will again be forced to go and do bambiala to IMF/World Bank. For how long?

Because their currency is in demand. Who wants Naira besides Benin and Togo. Guys, open an economics notebook. What can you buy with Naira outside Nigeria? You can't say this for other dollar & Euro and Swiss Francs. So if you print and print, you will just inflate local prices and it's back to square one. Nigeria must produce more of what it needs locally; that way it can print currency. As long as we buy foreign, purchasing in dollars, we can't print.

seunmsg:
Tinubu suggested this some weeks back and the social media mob shouted him down. It is good that the president of Rwanda is suggesting same to African leaders and nobody can accuse him of wanting to embezzle freshly minted notes.

Hopefully, those in charge of our monetary policy would look at this suggestion objectively and decide if it’s worth exploring. All options must be considered at this point.

Yesterday, the chairman of the Governors forum said that states might be getting zero allocation from June if there is no rebound in the fortunes of crude oil price and sales. Simply put, by June ending, most states and even the FG may not be able to pay workers salaries not to talk about completing ongoing projects or embarking on new ones. This should tell us the kind of problem we’re going to face once this lockdown is over.

Government leaders across board and those in charge of managing our economy must start thinking out of the box to come up with an homegrown solution to the inevitable economic crisis that is coming. No idea should be discarded without properly weighing its merit and demerits.

Tinubu was rightly shut down: It's a super-dumb idea, with inflation already at 10-15%.

BEEFIE:
half education is dangerous

Better than none, no?

egopersonified:
If you read my comment before quoting me you would understand that I said no country is heaven. Hate for defending my country? Please.

To defend Nigeria? There is nothing to defend -- my point. Some needlessly showy person is doing what they do then you instantly insert Nigeria; and also the need to defend her. Canada is a richer country per capita, so countries like Nigeria (of course!) cannot do what they do.

Having said that, in my opinion, a better way to defend Nigeria will be to state what Nigeria is doing -- within it's means -- to protect Nigerians. Then there will be no need to drag Canada down with false statements.

BEEFIE:
ode, why do most countries decide the value of their currencies only few countries allow it to float

Let me school you, mumu: Currency can be pegged, held static, or allowed to free float. Naira does not free-float, as it is probably really worth $1 to NGN 1000. So, the CBN has to actively manage our foreign exchange reserves so that business that are deemed necessary would be able to purchase dollars at the set-rate, not what it's truly worth. In free-float economies, the market -- that is demand -- dictates the rates. I can go on and on, but I already think you'd have issues comprehending the above.

Again, mumu, ask yourself, why is Canada not suffering after Ghana removed zeroes from their currency? I'll give you a clue: no one gives a shit as the demand for cedis outside the country is low or non-existent.

I wish I was able to explain this to you on friendlier terms, but your opening salvo was pungent and demanded a response. I'm will to change that and have a genuine discussion on this, as I noticed a lot of people don't know how this works and I will like to contribute.

egopersonified:
Don't mind them. Meanwhile the citizens of that country are still protesting against their govt but to Nigerians it is heaven on Earth. He should go and show the 22 million Americans applying for unemployment benefits his 2k.

Hater! That's why the continent can't move forward. If restaurants are closed, why keep waiters employed? When all this is over, restaurants will reopen, no? Because another person is not doing well doesn't make it better for you. This hate will destroy you and sadly the country as well. Nigeria has never been heaven on earth. Security operatives have killed more people in Nigeria than COVID and you call that heaven on earth? I wonder what earth on earth is.

egopersonified:
I know there are legal immigrants too. Some of them applied to school or courses there, knowing fully well they want to stay permanently, is that not deceitful. Why not just apply to get a work permit before you leave Nigeria and let's see if they will get that visa. You are therefore exploiting that system. Some won visa lotteries, some were transferred or sent to study by companies or govts in Nigeria abroad, there is always a right route. But it is the ones that passed Libya that will not let me hear word because they can't believe their trick worked. Let him go and use his 2k to pay his mortgage, car insurance, installmental payment car, light bill, water bill, gas bill, and the one million other bills. They should stop abusing us already.

While I don't agree with the show-off, you are talking even crazier nonsense.

BEEFIE:
that money can't even last a family for one month over there. and it will be collected by means of taxation. nothing big about it. if federal government declares 1 dollar to 1 naira today. they will collapse

Illiterate level. Currency values are not declared. Olodo!

Obrigardo:
The incompetent dear leader has everything to do with it from ceding protected lands to them for drilling and relaxing environmental pollution rules so they can keep on their failed drilling. Same format he used for steel workers, coal workers etc, do you still hear about coal anymore? trump is an inept failure

You are not as clever as people around you might tell you: By giving more land for the same drilling that made US energy independent? BTW, Obama takes credit for energy independence as it happened while he was in office. And it's the democrats (climate change people) that pushed coal over the edge. It was on the way out anyway.

Reading your post, I'm entirely sure Africa deserves the leaders it has. Anything better would be thoroughly undeserved.

I'm no Trump fan by the way

PassingShot:
Dolt, GEJ had savings in treasury but he was Owing federal workers salaries and actually borrowing to pay as well.

Senior Dolt, you said Buhari paid. From his grandfather's savings or from where exactly? LMK

SadiqBabaSani:
The news is everywhere that Oil is now Minus territory.

sadly Whether you are an oil worker or not, politician or not its not something to gloat on.


for clarity sake Its US crude Western Texas intermediate futures (WTI) that entered negative territory, I am nt an oil industry expert but oil has nt become completely useless as a few would wish for.


For the first time in the history of trading US crude, West Texas Intermediate, its benchmark, is trading in negative territory.
As of 8:22pm on Monday, US WTI was trading at $-37.45 per barrel according to prices displayed on Bloomberg energy terminal.
While this is not good news for oil-producing countries, here are a few questions to help you better understand the situation.

Q: What does trading in negative territory mean?

A: A simple way of explaining it is that traders will pay their customers for patronising them

Q: Is this a good thing?

A: No, it is not. Traders and oil exploring companies are running at a loss. It also means that there is no storage space to store excess production.

Q: Will this price be the same across the entire industry?

A: No, the negative price is only for US crude. Also, it only applies to May futures as the contract for June delivery is still at $22/barrel and July is at $27/barrel.

Q: Futures? What does that mean?

A: In the crude oil industry, refiners and other buyers can pay ahead for crude that would be delivered at a later date. Thus, some of the May futures would have been sold earlier in the year for as high as $50 or $60 if the customers negotiated or paid in January.

Q: So oil is not valueless yet?

A: No, it isn’t

Q: So how does this affect other producers?

A: This would serve as a warning for the Organisation of Petroleum Exporting Countries (OPEC) of how bad the demand problem has gotten.

Q: So what about the price of Nigeria’s crude oil?

A: Nigeria’s crude oil is benchmarked against the Brent crude. At present, the price of a barrel of Brent crude is $25. Although traders in the market said Nigeria’s Bonny Light was sold for between $13 and $15 recently, the price is not yet in negative territory.

Q: Will this blow over?

A: It is expected that the global economy will rebound gradually once coronavirus-induced lockdowns are lifted and activities resume.

Good stuff! Rare around here.

salford1:
My apologies.

Oh WOW, super-gracious. That's scarce on this site. Well received, my brother.

salford1:
That is cheaper than a bottle of water.
Thank God I left the sinking oil industry.
Since 2015, the producers have been barely making profit.
Oil companies are mean. Even at $50 per barrel, they were cutting jobs and expenses like no man's business.

There are people, fortunately or unfortunately, still in the country. That's not a nice thing to say, my brother.

Obrigardo:
For once I sounded like a trumper
Because a trumper will make you believe trump is the best thing to happen to Shale
Shale oil is a bust I see that now. All thanks to dear leader trump

What does Trump have to do with Shale oil. The issue with Shale is that oil prices have to be above a certain price to be viable. What has Trump got to do with that? Park well abeg!

fulaniHERDSman:
Ok sir.

I disagree so much with your okay Sir Passingshot, but I understand. Fulanimadman, you better keep your eye on Ebay, Nigeria might go up for sale soon. If you consider the madness of the last 5 years a properly managed economy, then you confirm why the country must break -- you guys have a high tolerance for suffering and should have your own republic of suffering.

IceLip:
Something must kill a man

I agree o, my brother.