₦airaland Forum

Movement to village !

Devaluation responsible. There is a drop from 108.23 to 97.34 billion dollar



Nigeria’s total public debt rose to N144.67 trillion ($94.23 billion) as of December 31, 2024, reflecting a significant increase of 48.58% compared to N97.34 trillion ($108.23 billion) recorded at the end of December 2023.

What is the ratio of the debt service to the revenue. That is the most important number.

GOVERNOR MUTFWANG DISMISSES FALSE ALARM OF EXPLOSIVES AT OLD JUTH, NEAR TERMINUS MARKET

The Executive Governor of Plateau State, Barr. Caleb Manasseh Mutfwang, has dismissed the rumors of an alleged Improvised Explosive Device (IED) planted at the old Jos University Teaching Hospital (JUTH) site near Terminus Market in Jos North Local Government Area.

In an official statement, Governor Mutfwang clarified that the alarm was a false one, triggered by a group of individuals who misinterpreted a heap of polythene bags as a potential threat. Their report led to a wave of fear and panic among citizens in the area.

Governor Mutfwang explained that security agencies, including the anti-bomb squad from the Plateau State Police Command, responded swiftly, conducting a thorough cordon and search operation at the scene. After an exhaustive inspection, no evidence of any explosive device was found.

The Governor urged all Plateau citizens to remain vigilant and to act as responsible ambassadors of the state, upholding its reputation and rich heritage. He assured the public that his administration is committed to ensuring enduring security across Plateau State, working tirelessly to restore peace and stability to the region.

Governor Mutfwang called on the people to focus their efforts on supporting the government’s mission for sustainable peace and prosperity. He encouraged residents, especially those near Terminus Market, to continue their daily activities without fear and to promptly report any suspicious occurrences to security personnel for quick action.

Gyang Bere
Director of Press and Public Affairs to the Executive Governor of Plateau State
November 12, 2024.

[/https://www.facebook.com/100069111404011/posts/pfbid02mmVU3TMRMNE3BuNVgGwkXeKTxuZHMH8qDcXJ3k85jbrCA8WC6xfQomLkn1Qc4wYol/?app=fbl]

Arobaga:
After IMF don catch them subsidizing dollar with foreign reserves





Tinubu dey very useless

You lied

PlushyRealtor:
Prices of commodities won't reduced irrespective of naira gaining momentum against the USD b'cos those local items are manufactured here in our country and transport to customers using vehicle(fuel), so as much is fuel price is still high locally manufactured goods will still be high.

You'll only see drastic reduction in prices of those items once the government openly reintroduce fuel subsidy and price back to as it were before baba took over power.

Price is relative. If the prices of goods whose raw materials are imported or directly imported drop, local food will likely also drop because the demand for local food would be reduced.

This is now clear

Forex trader: if you get mind you can buy dollar now, the dollar naira is at the support level. 😆 At a week you when you understand the difference between fundamental analysis and technical analysis.

😆

OliveDeveloper:
In the far north east corner of Yorubaland the years of the Kiriji War had seen a great expansion and intensification of Nupe raids and control.

Nupe raids and capture of Yoruba people for slaves had caused the emergence of many refugee settlements. It had also generated intense anti Nupe hostility not only in Yoruba towns and villages but over a large area including Afenmai and Ebira countries.

As Nupe traders, troops & persons representing Nupe control were routinely attacked and killed everywhere the position of the Nupe gradually weakened.

In 1894, a refugee settlement named Ogidi formed a grand alliance to liberate their people from the Nupe. The Ogidi alliance borrowing strategies from the Ekiti Parapo commanded forces from ijumu, Iyagba, Oworo, Owe, Ikiri, Akoko and even Ekiti. The various North Eastern Yoruba communities wiped out all traces of Nupe control and claims.

Extracts from “The History of the Yoruba People by Prof Banji Akintoye.
MORE:- https://oliveloaded.ng/what-did-you-know-about-the-last-war-after-1893-oliveloaded/

Ogidi is not a refugee settlement. Besides, there was no grand alliance. The British military only came after the war.

Good for us

We are simply moving from a fixed (pegged) exchange rate to a managed floating exchange rate regime. Change like this often comes along with the high upward volatility we experienced some weeks ago.

With the aggressive efforts of the CBN, I strongly believe we are in the stage of stability; once that is obtained, we can then talk about appreciation of naira to fair value

Good days ahead.

Geovanni412:
Nope,

Realists

What economic measure is in place to sufficiently stabilise the naira?

Are we exporting more products now?

Mind you, Nigeria’s total trade in the third quarter of 2023 stood at ₦18,804.29 billion. Exports were valued at ₦10,346.60 billion while total imports stood at ₦8,457.68 billion, this was not felt in our exchange rate because of our high debt service to revenue ratio, high volume of printed naira in the name of ways and means. All these things are systematically taken care of to ensure the surplus naira is mopped up.

I believe there are good days ahead

Some days ago, PDP governors gathered to criticize the Tinubu government and alluded that if care is not taken, Nigeria's situation will be similar to that of Venezuela or even worse.

However, they neglected to inform Nigerians about how Venezuela reached that point of economic crisis.

Venezuela, being an oil-rich country, benefited significantly from high oil prices in the early 2000s, much like Nigeria. In fact, at one point, Venezuela was the richest country in South America.

The billions of dollars in revenue were used to finance social programs and food subsidies, similar to how Nigeria subsidized fuel, electricity, and forex.

However, when oil prices declined, these programs and subsidies became unsustainable, yet both countries continued to borrow to sustain the programs hoping one day the oil price would rise again.

In November 2017, The Economist estimated Venezuela's debt at US$105 billion and reserve at US$10 billion. By 2018, Venezuela's debt had grown to US$156 billion, and as of March 2019, its reserve had dropped to US$8 billion.

Currently, Nigeria's debt exceeds US$113 billion, and our net foreign reserve is below US$3 billion.

In February 2019, Venezuela's inflation rate reached an all-time high of 344,509.50 percent.

What we are currently experiencing in Nigeria is child's play compared to what could happen if we proceed for more than six months without removing fuel and forex subsidies.

Before the subsidy removal, our debt service to revenue ratio was already above 100 percent, and our reserve of 33 billion dollars could only sustain us for 6 months. Our credit rating was also negative.

However, just four months after the subsidy removal, our credit rating had changed from negative to positive, and our debt service to revenue ratio has improved from over 100 percent to 70 percent.

Let's support President Tinubu's reforms by educating people on what could have happened to Nigeria if these policies were not implemented.🇳🇬

Aesthetical:
I can bet my balls that Tinubu does t know the meaning of subsidy

Like your father ode

seborrhic:
If the subsidy had been removed and the Naira was defended,things wouldn't have been this horrible.
Tinubu is empty.
He is a sawdust filled brain man with nothing to offer because you can't give what you don't have.
Any monkey can remove subsidy and devalue the Naira.
It's what you do before,during and after, knowing the ripple effect of those policies that should distinguish you from the monkey.
Tinubu has not proved he has a brain better than that of an ordinary monkey,if at all he has anything in it.

Defend naira with which dollar under this economic situation in which the ratio of loan service to revenue is higher than 100?

Great one

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Playthepianos:
Hi, op. How has been the experience since? Any issues? How long does the battery last?

Still using the phone.
My experience with the phone has been wowed.
I still get updates regularly.
My battery is still strong as of when purchased new.
The only thing I changed is the charger that got burned as a result of the high voltage.
Frankly, I am impressed.

Bayern and Liverpool at home to win will fetch more than 2 odds. Isn't that a gift

Eriokanmi:
North vowed more than that for Awolowo, a southerner with a clean record, who even went as far as clothing them with proceeds of cocoa from our region. Yet, they still carried out their heinous plans at the 11th hour. Who is tinubu that would be treated differently

Stop misleading people with wrong information. Awo fielded south south- Christian - Christian ticket and was highly betrayed by the south-south and south-east.

The cause of the problem is clearly stated in the write-up. But very understanding it.

Felimax:
Mention one(1) LGA owned by APC?
You see that 30%? It has been reduced to 3.0%. Eye go turn you.

Una for that APC don really see us finish.

Delta Central is predominantly Urhobo and is APC. No part of Ijaw and Isekiri are joining

post=118075666:
You are a liar, Buhari got 25% as a seating president with Omo Agege rigging with his group, not over 30% as you claimed, with BVS, bad economy, Muslim/Muslim ticket and Tinubu old age he will not get upto 20% in Delta

Are you from Delta? Your analysis is faulty. Delta will Asiwaju nothing less than 40%

K

Jagaban camp will be pleased with this. Igbo will indirectly help Jagaban to become president effortlessly by wasting their votes on Peter Obi.

Who noticed that Righteousness actually prayed for the release of the girl and others?

Reading comments. Love both

Once you eat good food and sleep well without negative worries your skin will glows

colorsofrainbow:
This guy is the most balanced character befitting to rock that title Mr.President. Absolutely detribalised,not a religious bigot and doesn't lick anyone's ass for favour. He's either with you or completely against you. No sitting on the fence to achieve some mischievous aims.
Very loyal crook!

If you like come and talk about him being a thief and tell me the politician who isn't a thief in present day Nigerian politics.
Start with the criminal you have in mind.

You didn't know much about him. Ask a sincere Kwaran!

Empire1111:
5YQVHY5

2.19 odds

Ankara Demirspor - Sanliurfaspor(1x)


Sassuolo - Hellas Verona(1x)


Arminia Bielefeld - Greuther Furth(1x)


West Ham - Leeds Utd(1x)



Day 1: prediction

Out of 7 days

Not only 100% but 300%

How come Egypt beat Nigeria in ball possession?

Ayobamipeter36:
oga there is green mamba if u don't know

It is green Bush snake.