₦airaland Forum

oyeb15:
The fool said he increased interest rate to curb the too much money in circulation.


Pls where is d too much money in circulation. Maybe d once in bullion vans in Boudilion

The man's analysis is very annoying.

seguntijan:
Indonesia floated its currency in 1998, prompted by the Asian Financial Crisis, and the Rupiah depreciated from 625 to $1 to 16,000 - $1 in the same year. As of 1998, Indonesia's GDP was $95bn. The country was bankrupt. It ran to IMF 4 times, had food shortages, and had massive riots. The rupiah gained value to 8,000 in 1999 and went back to 16,000. The economy started to grow gradually since then, witnessing a rise in non-oil export revenues and capital inflows into the Jakarta stock exchange.

The Rupiah has traded between 15,000 - 16,000 to the $ since 1999. Currency stability - easier flow of capital - easier investments - price stability - easier growth. I tried to explain in the thread that fx stability is a more important factor for economic growth, not the exchange rate, and Nigeria must choose between price stability and a pegged volatile fx rate. With the same period between 1998 - 2022, Nigeria's GDP grew from $218bn to $420bn with a pegged / fixed exchange rate system that we had to defend with our fx reserves while Indonesia moved from $95bn to $1.3trn. Fx reserves are meant to facilitate economic trade, Nigeria chose to use over $200bn of its reserve to defend a pegged currency.

Now my questions to you are :

1. Did the weak Rupiah prevent the Indonesian economy from growing from a gdp of $95bn to $1.3trn ?

2. Did the weak rupiah prevent consistent Gdp growth YOY?

3. Has Indonesia not done well with its weak currency?

4. Can Indonesia make $250bn from exports without a weak currency?

What is your point again?

All these your comparisons and analysis are unrelated and unnecessary.
Economic growth without Economic development is a mirage.
Besides, what you failed to understand is that the amount of leakages and corruption in the system rubished the comparison.
You didn't tell us the level of padding in Indonesian budgets or the number of Jets, Yatchs, Limo and buildings etc, their president acquired in those down periods.

Stability and credibility in whose interest?
This is the major question the CBN governor has to answer.
Killing millions of the citizens to attain stability and credibility.

DeLaRue:
Associations like freight forwarders, oil marketers Association or whatever they are called always oppose any change in their sectors.

How can an ordinary PRO of Association of Freight Forwarders say '...it is not possible, don't mind the government'.

What a load of cobblers.

Does he know better than the tax reform Committee headed by a renowned tax expert Mr Oyedele who is a former head of PWC or is it Delloite.

I think the freight forwarders are probably angry because government policies have rightly led to a reduction in destructive importation.

The man knows what he was saying. The government is a joker. You cannot cannot replace Customs from revenue collection because of the technicality involved.
The expert consultant of the government is just a theorist.

vanitybutiwanti:
yes, you guys want reduced fuel and electricity tariff, you also want him to make the dollar exchange for 200-500, you want him to turn the entire population to millionaires overnight, look at the numbers, its simply not possible, if you like make Jesus christ president, nothing much will change, The country is almost beyond repair.

Defending nonsense as usual. You think that you are making sense. Is your Tinubu the first to rule Nigeria. Go to a country like South Africa and increase prices by just 50% at a time and see what happens.
If Tinubu must make reforms , should it be in this way? Why should he destroy the country in the name of phantom reforms.

vanitybutiwanti:
Tinubu is not a magician

But he is a destroyer.

InvertedHammer:
/

Question:

After today's protests, what's next?

/

The impact will continue. The impact on the administration of Tinubu is what matters.
If you know how much the government spends to avert it, then you know that it matters.

Forget all the grammars and empty promises. With fuel at N1, 200 and exchange rate going to N2,000 per dollar, there will be no progress in the country.
The president did not talk about duty free importation of food stuff again.
This is how they make promises after promises to calm Nigerians down, after that no implementation and no impact.
Once again, if Tinubu did not revisit this floating of the Naira and the price of fuel, nothing will work in Nigeria. He can make millions of promises, it will all ends there.

The people who said Nigerians don't pay taxes should know that there are direct and indirect taxes. No one evade indirect taxes. Then there are many other forms of direct taxes that cannot be evaded. It is only PAYE that low income earners in private sectors don't pay. But in most states, you pay them to access government services.
The problem is the corruption we are talking about which this government has not done anything about it.
As a new government, Tinubu should have reformed the Customs, FIRS and every other department and ministry to align with his vision.
But he has non for them. Just started from day one to fight against fuel and the dollar.
Even if he like let him collect the whole money in the country, nothing will be achieved because his government lacks depth and coordination.

Thundafireseun:
Lol at stop believing rumours….

Where are the people that voted Monday??
Why are they not celebrating his victory??
Why are only politicians celebrating

Continue telling your self things that make you sleep better at night

My man, everything is not about rumours. Nigerians should stop believing every thing they were told.Who told you that people are not rejoicing.

So if you are contesting , you will go and sleep and someone will bring results from nowhere and read.
Have you ever been at the polling units during elections and see how it works.

Furthermore, Hope Uzodimna of Imo state went to court with the copies of the results and it was recalculated and added to his scores. Is this not a good precedent. So any person that has facts can do the same and get justice so stop believing the politicians. They know what to do if it favours them.

What we have at Edo is massive vote buying. All the political parties are guilty of that.

Thundafireseun:
I don’t think I understand a word you said at bolded… what makes you think I’m Igbo or Yoruba??

You are a tribalistic bigot


Wike’s cousin is Edo state INEC chief executive officer and you think Obaseki stood any chance of winning

The results were released at the various polling units and all the political parties had their copies. So what do you think the INEC officer will do to influence the results. Is he a magician. Or you think after the polling units people will go and sleep.
Nigerians like believing rumours from election losers that it was rigged.
Let me tell you it is not easy to rig an election outside the polling units. The most political parties can do is vote buying. Stop believing rumours.

Yeah, PBAT is right on this one. He should continue his good policies. Anyone from Edo State that voted for APC that complains against APC policies should develop an athlete foot.

Even though I am not an APC supporter, I hate all these noise without facts and figures.
You have the results, tell us the figures your party won and the point that INEC changed it.
Hope Uzodimna of Imo state went to court with copies of the results sheet. The court recalculated it and awarded him his scores.
Is this not a good precedent for others.
Instead the other politicians will make noise and no facts at the end.
PDP should save us this noise.

Elidrisy20:
forget , you no hear when inec electoral comm. Dey talk say even Dem give am 1billion him no go rigg the election, that one na market strategy, meaning him go fit collect anything more than that

Bros no vex, please tell me. If the results had been released at the polling units and the political parties had their copies, how then can it be rigged. Explain to me

onuman:
The iREV can also be programed to calculate votes and display results. It depends on what Election umpire wants. If Mahmood Yakubu wants to continue to determine who can be what in Nigeria, the iRev will remain mostly irrelevant in Nigeria's elections.

Exactly, but the politicians and political parties are not complaining.
I am not an expert but will my little knowledge of programming, I can design a better platform to handle Nigerian elections in a way that there will be no rigging and snatching of ballot boxes.
Most times one wonders why simple things are very difficult in Nigeria especially when handled by professors.

onuman:
Nigeria's retrogressing election process.

What happened to iRev portal where everyone is supposed to be viewing the results fed by presiding officers?

That's what am saying. All the results are on the IREV. The problem is the IREV don't calculate, it only shows results sheet from the polling units

Elidrisy20:
What's this?
This is called mass rigging

How?. The political parties had all the results from the polling units in their possession, so how is possible to change the results without them knowing.

felaismyhero:
Immediately after Paul and the apostles, Christianity took over the Roman empire-this empire helped the spread of Christianity with the conversion of Emperor Constantine (you've probably heard his name before). Of course, Christianity was made the state religion and the churches were united (this united church became the Catholic Church of today). But there was a growing discontent in the church; there was argument over whether Jesus was purely spirit (gnosticism) or part spirit part human, and Trinity( was Jesus Christ spirit God or human reincarnation of God like Osiris or Mithras). Emperor Constantine called a meeting of bishops to discuss the division. It was termed the council of Nicea( I want to believe you know about it, if you don't; WTF! You don't know the history of your religion) Well, the bishops supporting humanity of Jesus and Trinity won; and the church split into two; Roman Catholic Church (later name) and the Eastern Orthodox Church(most of the churches in Eastern Europe, Russia, and Ethiopia, Egypt). You can go confirm everything I have said here; you'll probably find more information.

Those that worship God should do so in truth and in spirit. The Emperor and his deeds are history. What about you? what do believe and worship?

mfm04622:
How exactly was this election rigged?
There was security, no ballot was snatched, nobody was intimidated, people buying votes were arrested, results were uploaded to the server.
How was the election rigged? In what way was the integrity o the election compromised? Or is it about claiming it is rigged if your candidate loses?

You are right. The party Agents are supposed to have copies of results from the polling units. Now that the results were uploaded, is it not for the political parties to tally the results on their own.
I don't know how rigging will happen when results were uploaded.
Vote buying is another thing all together. All the politicians are guilty of it. It is better than adding figures from no where.

Ojiofor:
Nigerians should forget any election under Tinubu's leadership.It will be nearly impossible to defeat him or any candidate he supports.
He is a master of rigging,forgery and corruption without any iota of shame.how can you expect a free and fair election for such a man?

Not like that! APC worked very hard and shared a lot of money. You cannot be sleeping and think that Tinubu has a magic wand to win an election.

felaismyhero:
Nonsense stories like this show that either the events didn't happen on Earth; they probably happened in another world of superhuman aliens, or they are myths. There's no mysterious story or miracle that has been repeated in our time. I do not believe that Jesus ever existed as a human being; that was actually the big issue that first split the church.

Which church?
You free to believe or not believe, it makes no difference.

Bizibi:
he has to find a way to set things right next year,I have projected next year as a recovery year,if nothing improves Apc should forget that election.we go only chop the money.....Apc has lost north east and north west,that is why they need ss in the calculations. The thing is if things don't improve there will be nothing to campaign for.

But there is money to be shared which is the major determinant.

If Tinubu did not destroy the economy before he started, all these taxes would have make some sense to shore up the revenue of the government.
But now, the reverse is the case. He has already destroyed the economy, he is trying to bury it.
This idea is just to raise campaign money for 2027 because Nigerians have been defeated, and lack inquisitive minds.
Banks that declare thirty billion Naira as profits do not need the citizens to maintain security. And they have never complained to any government.

MEEVEET:
Nigerians need to demand electoral reforms

Direct polling unit transmission of results to a central server ... Cancel local government collection centres that's where rigging takes place

Until this is done this symptoms would only get worse

This is the solution to all these talks. It is left for political parties to fight for that.

These experts did not capture freight, insurance, import levies and other levies associated with importation.
By the time you remove them, the price should reduce reasonably.
The only thing is with this NNPC control now, it is still going to be business as usual. No one will know the actual price and the consumption level.

EreluRoz:
I'm really sorry Nigerians I thought asiwaju was the best from what I was told, I genuinely like him and wanted him to be the best president ever but I was disappointed.

I want to ask, why do I feel guilty each time I see people lamenting bitterly kos I supported asiwaju? Should I be feeling this guilt or I'm just overthinking things?

You should be feeling guilty, till when people stop lamenting bitterly.

Yemmysworld91:
I no go school, so i no go respond to you with English
I understand the angle you are coming from. But, tell me what the other regions has done differently that makes them better na. At least they were collecting allocations.
Note that when we had regionalism, no region comes close to the south west except if you wanna live in denial

Well, you said you will not respond with English. You should still make out time to read about those two concepts.
The FG makes macro policies, they control currency , security, imports and all major economic indecies and the States operate under the rules of FG.
Why bring the States. Can the State make the currency strong or weak for the people. Can the State control the price of fuel? Can the State control import duties, or security.
Are these not the issues at stake? What are the role of States in macroeconomics issues that determinine the state of the nation's economy? These are the relevant questions to ask.

spinna:
Its rather unintelligent to lay the entire blame upon tinubu and exonerate buhari knowing the terrible rape of the economy and thieving of the buhari regime..as well as the Jonathan era

In fact out of the three , good luck, buhari and tinubu, i think tinubu is still the one who is trying to change things the best and has the most cerebral govt making some degree of effort. At least its not business as usual in his govt .painful yet necessary economic adjustments are being made

As they say the effective medicine is the bitterest one..

Baba don talk say things will get tougher before they get better it's just the way it is.

Abati is playing to the tribal sentiment gallery to garner anti tinubu/yoruba support and this lowers my regard for him..such a pedestrian statement. When did yorubas ever say they are better at managing the economy? For Abati to make such a tribally polarising statement is sad coming from a former newspaper editor who should understand things better

Make una go plant farms for your backyards and buy horses or bicycles for movement.. 😂.. If things improve nobody will commend the govt


Me I'm not a fanatic of any politician, i liked some of Goodluck's policy but he had no balls to push any of them through..to the extent of being bullied out of power..At least Jagaban has a pair of nuts. what's the use of good policy only on paper? .SNC only on paper? In this short time Tinubu is doing his own form of restructuring .. like i said I'm no fan of any of them, im just saying my own view.

My own be say by the grace of God when others are saying there is a casting down, i shall be celebrating a lifting up . I am redeemed to flourish even in hard times, my case is different by God's grace .

Anyone quoting me keep it polite abeg..

Truth is you don't know what you are talking about. Tinubu has no comportment of a president from day one. Even today, Tinubu cannot say 10 problems of Nigeria. Stop defending nonsense. When you see a ruler working, you will know.
All those people you mentioned tried to float the Naira but when they saw the impact they backed out. Tinubu should have taken his time to study the exact state of the economy before knowing what to do gradually.
Do you that there is no country in the world that you can increase prices up to 10% at a time in the name of reform. It can only happen in Nigeria.
So stop comparing Tinubu with past presidents. We are all watching to see where all the Agbero style will lead him. Reasonable Nigerians have been talking, but like Biblical Pharaoh, he is too big to listen or make amendments.

Yemmysworld91:
I kinda agree with you, but we are practicing federalism. So, how is the states not managed by the south west and the North faring, are they doing better than the two regions you said have destroyed this country??. Don't tell me it's the government at the center that is responsible for the funds allocated to those states too over the years. Those regions ought to be way better economically and in every aspects of life if they are good leaders

Did you know the difference and relationships between Macroeconomics and Microeconomics?
Just look for it before you talk of the regions.

festacman:
This day-dreamer Gbenga Adeyinka sounds so naive or rather ignorant because at the moment, there is no clear plan to chart way forward for Nigeria out of our numerous problems.

Look, I know how one feels when one's hero is failing and you refuse to accept reality but instead you keep believing. But it is what it is.

That's the problem his blind supporters don't realize. There is no clear plan in sight. The president's body language says it all.
Tinubu is there for personal glory. That's all I can see.

It is surprising that a document as legal and sacrosanct as the National Budget, worked on by many hands, debated by the Legislature for months and eventually signed by the President after many of his aides, special Advisers and ministers have gone through would still contain all these insertions here and there.
I don't understand these things at all.

DesChyko:
Someone asked me that too. I simply told him it depends on a lot of factors and isn't within my purview as a recruitment rep to disclose.

I feel it's a bit awkward to prioritise salary before your ambitions of working at such a place in a corporate world. One even said 'let me know if I can risk coming'. Strange.

Sharing a range before knowing the ability/value of a potential employee can attract ugly eggs and potentially keep away the valuable ones. You can peg a salary at an amount, but be willing to increase it for those whose value are worth it. You can also peg it at too high to get the great hands, and end up inflating job market needlessly.

I recruit for companies as well. It is Important to let the candidates to know of the salary range if they ask for it at any point. There is no secret about it.
Like the case th Op stated, the person supposed to tell him the range since he asked for it.