₦airaland Forum

In the UK, women cheats similarly to how men cheats. Cheating by UK men is so subtle compare to how we make noise of it. Cheating in UK us more secretive.

And to answer your question, I said it is because they are foooollll. An ignorant man is a foolllll. They need classes to give them knowledge.

Just to clarify I m not going through any emotional challenge with reference to the issue. Infact I can never be beaten twice in a marriage. First beating I am out for good.
quote author=crackhaus post=45525406]
I understand you're upset, but I'm sure you can see I didn't talk about just the 'bride price', but on the whole the way Nigerian marriages are structured.

We not talking about the UK here, but even then I don't think western men take too kindly to their wives cheating on them too.
I've seen cases where these men also feel it's their right to cheat, it's a universal thing for men to think they have more right to cheat so don't even bother with the comparison - it isn't a uniquely Nigerian thing, we just take ours to a whole 'nother level.

This is why I wanted you to answer that question which you didn't, perhaps due to your emotional state at the moment.
But I'll ask again...

"Why exactly do a lot of [size=20]Nigerian men[/size] feel their wives have no right to cheat on them?"[/quote]

crackhaus:
Hard to admit, but all this talk about who has a right to cheat in marriage will be better laid to rest of women collectively try to abolish this thing called marriage rites (bride price) being paid on their heads.

The truth is that some men (even if they don't say or act like it) have this innate belief that a woman who milked them with expenses such as bride list, bride price, paying for almost everything in the wedding including her wedding dress, and basically giving her the big Cinderella wedding she always dreamed of...has no right to cheat on him - it is what it is.

Women should help themselves and help everyone. Whether you're a working wife or not, some men still feel a woman has no right to cheat on them with the way Nigerian marriage rites are structured.

What you should be trying to deal with is the foundation, which poses the question
"Why exactly do a lot of Nigerian men feel that their wives have no right to cheat on them?" - don't rush, think about it deeply and tell me what you come up with.

Some Nigerian men need to attend marriage building classes. Any man that thinks the bride price give him the right to treat his wife like a "thing" is a fooooollll. The bride price is more of a tradition than anything.

In the UK men can buy expensive wedding rings to propose, more expensive than the bride price but such men don't treat their women like a thing. Being a woman abuser is a mental health issue and not a bride price issue in my opinion.

A woman always have authority, so does the man. If a man can cheat and flaunt it, why can't the woman?

my message is simple, if you cant cope because your spouse cheated, move on, don't beat her up.

mhizeva:
You are one of those people rubbishing this world.....

So many women will translate that meaning that they have authority even when they cheat... They will start giving excuses and claiming equality instead of being sorry for their actions.

Review your post it lacks any vital form of message

thorpido:
Op,na vex u take post.Have you been a victim?

No to disappoint you, I am writing based on Ronke's death and the fact that some men seek to be justifying his anger.

This write up stemmed from the allegation that Lekan abused Ronke to death. He has denied it though but tried to justify his actions by that fact that Ronke was cheating on him. Apparently it is an established fact he cheated and that of Ronke remains an allegation.

To all Nigerian men that this story may concern, please get it into your skull, you do not own a woman, she is your companion. You are the head and she is the neck, the two needs to work together or go their separate ways in peace.

I do not encourage cheating but if a woman cheats in marriage or a man cheats in marriage, the best is to separate if you cannot live with it and talk it through for improvement.

The right to associate is a fundamental right, so if your wife is cheating on you, try and talk it through and hope for better or let her go.

No justification for a woman beater. #leaveyourmanifheisabusingyou.

I read with shock the story of a man who allegedly beat his wife to death in Lagos State.

The poor woman has kids and worked with GTBank before her death.

Please don't let a man physically abuse you twice, move out after the first abuse. Don't allow yourself to be brainwashed into staying.

A word is enough for the wise.

Adminisher:
Experts are running our monetary policy please

hahaha

For almost 1 year in power, it does not appear to me, we have a clear road map on ministries policies apart from the monetary policy. Which was borne out of self believe rather than economics.

It is clear we are not devaluing our beloved Naira because we love it so much. It does not matter what the parallel market price is, what matters to us is that we cannot see the benefit of previous devaluation. Please Mr president have you asked your team to do a model of what could have happened if we had not devalued in the past? Is it not clear that we cannot reinvent the wheel of economics because we love Naira?

I agree we need to reduce our dependency on dollars but just not sure we can move suddenly, I believe it should be a gradual process borne out of good economics.

I conclude by saying time will tell if GMB is right and others like me advocating for devaluation are wrong.

God bless Nigeria

I like the commitment of pmb's supporters to him. The loyalty is commendable and it reminded me of the die hard followers of GEJ.

The supporters absolved him of any blame for ceremoniously submitting a questionable budget, it must be the fault of the "padders".

The u-turn on 5k allowance has nothing to do with PMB.

The fact the BH still sting with venom is not true because PMB already said they have been technically defeated.

The fact that electricity is not improving is nothing to do with St PMB but that of saboteurs.

The fact that our forex policy is not worth the paper it was written on has nothing to do with PMB.

The fact that unemployment is higher is the fault of investors not PMB.

The fact that our country economy is on full reverse gear has nothing to do with PMB.

This man PMB must be as lucky as GEJ that in the face of backwardness he still had so many supporters.

God bless Nigeria.

Each time I see news on IGI Nigeria, it reminds me of a broad daylight deception in my personal opinion. This company systematically "deceived" Nigerians through her sleek brochure for a private placement about 10 years ago. There was a promise of listing the shares of the company on the NSE, clearly that never happened.

As I write, I doubt if the company has published his 2014 financials and we are in 2016. I need someone to convince me that a company that struggles to produce financial report regularly will have sound financial discipline.

In all the years of private placement, dividend has been paid once and bonus of 1 for 10 once to my knowledge.

I will appreciate if IGI can genuinely address the frustration of their investors and have a better relationship with them. Even if dividend will not be paid, it is important that results no matter how bad are communicated to shareholders.

Would you refuse your kids opportunity for moderate fun and entertainment while they are very young just because you want to save for their University education? Long term strategy must be accompanied by moderate short term pecks.

mrvitalis:
The problem with Nigerians is that we like quick fix... .. And that's has it own problem in the long run

Let the cabal continue there foolishness. .. . Instead of the to join and build there own refinery to compete with dangote.. They are looking for quick cash... Tomorrow they would say he has fg backing.... Why won't fg back him? .

It is not a news that despite being blessed with oil, we lack oil to use for our energy need. In fact we queued for oil on Good Friday.

But my question is, is the current scarcity of oil due to scarcity of forex? I will like to think to, the government economic policy to reinvent the wheels of economics is laughable.

Personally, on a balance of probability, Nigeria will still do the needful, devalue the Naira because we cannot control the price of a product we have no control of its supply in the face of increasing demand.

I listened to a recent interview of mr president at Al Jazeera and could not but kept asking, "how did we get here?".

PMB admitted not having good knowledge of the budget that generated so much issues compare to the interviewer. I would have thought judging from the "alleged padding" the president would have equipped himself with full understanding of the budget and ability to clearly explain why the VP has got more money for books compare to some of our higher institutions.

The president also lack empathy when he said, if you want to study abroad, search for the currency at your own expense as the official forex cannot support it. This is despite the president having kids studying abroad ..... tough luck. If the president does not know the benefit of foreign education to the development of our fragile economy, then who should? we have chemistry PhD holders from Nigerian Universities who has never seen an High performance liquid chromatography (HPLC) let alone a Gas chromatography mass spec (GCMS) and the president is proud to discourage opportunities to widen knowledge? Nigerians in diaspora sent $20billion home in 2015, this is so because some Nigerians that studied abroad and gainfully employed are sending money back home.

Also Nigerians that studied abroad and now working in Nigeria are clearly using their skills to further develop our country.

Conclusively, any country that push back education either locally or internationally is threading on the path of ignorance.

The government has made so many noise about diversifying our economy but I am yet to see any strategic document as a road map to a new Nigeria.

As a Nigerian I will advise the agriculture ministry to dedicate coconut plantation to a region in the country (other regions to have their agricultural produce focus too) with the hope of being among the top three coconut producers in the world by 2020.


https://www.youtube.com/watch?v=EkDqjphJgqM

It is a shame Ghana produced more coconut than Nigeria despite our daily clamour for diversification of our economy.

Indonesia produced about 19million tonnes of coconut in 2015, this is worth over $19billion in the international market. coconut water is more expensive than petrol in the UK.

I challenge the ministry of agriculture to deliver a strategy to increase our national revenue by $5b with coconut by 2018.

Talk is cheap, start walking the talk.

In as much as I will love to agree with you, I cannot see the northerners bowing to the constitution at the expense of their culture, I stand to be corrected.

chriskosherbal:
We should all work to make this country great.

I have never supported an argument that Nigeria should separate especially into Northern and Southern Nigeria for economic reasons. I always believe that we should continue to unite ourselves in diversity. And continue to develop our human capital.

On Ese's elopement or abduction (I prefer this as a minor is not capable of making a rational decision) It is so shameful that Ese's pictures is all over the social media, but the alleged culprit Yinusa have only been identified by a "NAME". Following on from this development I have come to the conclusion that based on the significant difference in our cultural values, it may actually be better we are allowed a referendum in Nigeria if we still want to remain as one. This may be discussed through a legal platform if it is available e.g national assembly.

I respect the culture of the north, I also believe they will value it strongly. However if a culture loudly encourages adults marrying "underage" girls and my culture does not, then it is a clear difference in our values. I am not saying a value is better than the other, but it may be very difficult to uphold a constitution in a country where culture supersedes the constitution.

A country where the Emir or any king irrespective of region in Nigeria is more powerful than the Inspector General of Police cannot be progressive in fighting crime in the 21st century.

Please when a bank charge me black market rate for using my card abroad, are you saying they are getting the dollars from black market or CBN? How can the bank justify charging me black market rate for using my card abroad? It is either the bank is making profit or an extension of the black market.

Localamos:
I recently heard of someone who successfully processed his child's school fees via Form A with Access Bank.

If you say dollars are scarce at CBN, I might agree with you. The implication of the scarcity means it's not all valid bids that can get dollars. That's why banks may, from time to time, advise their customers to source for dollars from the parallel market. But still I don't see how they profit from this.

Thank you for your maturity and civility.

Localamos:
I'm sorry for that. I have modified my earlier comments.

We must be living in different world. A friend wanted pounds for tuition fee in the UK, the bank advised him to get the money from Bdc and put it in his domiciliary account. And that was what happened. Another friend is in UK on holiday as we speak, the bank denied him PTA. Please let us be practical. That said there is no justification for banks to seller forex at black market rate.

Localamos:
Op, you have muddled up everything!!

Modified:
Official rate is the rate at which CBN sells dollars to the qualifying members of the public through their banks. What qualifies for a bid are:
1. PTA/BTA (traveling allowance for those going abroad for personal or business reasons)
2. LC (for import of goods that are not delisted by CBN)
3. Form A (for overseas school fees or hospital bills)

Localamos:
Op, you have muddled up everything!!

HOW? always learn to buttress your assertion please.

The official rate of dollar in Nigeria is =N=197-199, so if the banks want to buy dollars from the "taxpayer" (CBN) they will pay less than =N=200 to get $1.

However, if the banks want to sell the dollar to an average Nigerian visiting the US, they are charging an average of =N=300. A cool 50% profit. Easy way of building banks' revenue as well as easy way of cheating the taxpayers.

Nigeria monetary policy is currently dancing Makaba and Makoosa. When the government is ready to sanitise this mess our policy will be dancing jelenke (steady and smooth). Until then let the banks be popping champagnes at the expense of the taxpayers.

NB: Before people start castigating people travelling abroad, remember there are one thousand and one reasons while people go abroad; Business meetings, quality education, families and friends reunion, short trainings to improve our labour force skill base etc. Until Nigeria constitution denies freedom of movement, it will be silly to castigate people travelling abroad. Our president, governors, ministers, legislators travels so well too.

http://abokifx.com/naira-devaluation-or-doom-is-nigerias-economic-history-repeating-itself-vanguard/

Naira devaluation or doom: Is Nigeria’s economic history repeating itself? – Vanguard
FEBRUARY 27, 2016 BY ABOKIFX

By Brian Pinto On the 20th of February 2016, Nigeria’s President Buhari hardened his stance against devaluing the Nigerian Naira because he believes devaluation will not help the country “as it had few exports apart from oil and depended on imports whose cost would rise with such a move.” This view is shared by Governor Emefiele of the Central Bank of Nigeria (CBN), who noted on 17th November 2015 “Our major export commodity which accounts for more than 80% of our income is crude oil…and what is supposed to be the non oil export, we are not producing effectively.” CBN governor, Emefiele, also warned that that naira devaluation would lead to hyperinflation.

According to the famous quote from the philosopher George Santayana, “those who ignore history are doomed to repeat it.” Thirty years ago in 1986, Nigeria’s policy makers made the exact same argument against devaluing the naira under extreme pressure from a similar oil price collapse. The powers at the time said: “Oil is dollar-denominated and virtually our only export. What purpose then would be served by an exchange rate adjustment?” This argument is incomplete and ignores many important issues: the credibility of macroeconomic policy; subsidies for the rich hidden in the overvalued exchange rate; and the constraints placed on pricing and production by new restrictions pushed by policy makers hoping to regulate their way out of the current currency crisis. Thirty years ago, as a young economist at the World Bank, I studied foreign exchange markets across the developing world, including in Nigeria. Parallel markets for foreign exchange (typically illegal) were rampant in Africa and Latin America during the mid 1980s. These parallel markets have resurfaced in recent years, usually in countries with serious problems in economic governance.

Argentina and South Sudan are examples. Yet both have taken steps to eliminate parallel foreign exchange markets through appropriate, market-based exchange rate policy. On December 17, 2015, Argentina’s peso depreciated sharply, with the official exchange rate rising to 13.95 pesos per dollar from 9.8 pesos per dollar, much closer to the parallel rate of 14.5, after a new administration floated the currency. This was seen as a key step in reestablishing macroeconomic policy credibility which has been in tatters since Argentina’s sovereign default of 2001. Earlier, on December 15, South Sudan’s central bank dropped its fixed exchange rate. The official price of the dollar shot up by over 500 percent, from 2.95 South Sudanese Pounds per dollar to the parallel market rate of 18.50 per dollar.

The country is an oil exporter and embroiled in conflict. In contrast, Nigeria has taken steps to ration foreign exchange instead of letting the market determine the exchange rate after oil prices began their most recent fall. By April 2015, when CBN reintroduced foreign exchange rationing with restrictions on credit cards, the dollar oil price had fallen some 40 percent from its peak in June 2014. The official naira-dollar exchange rate had depreciated by 21 percent over this period, to 197 naira per dollar from 162.8 naira per dollar.

In June, CBN declared 40 imported items as “not valid for foreign exchange in the Nigerian foreign exchange markets” purportedly to “conserve foreign exchange reserves as well as facilitate the resuscitation of domestic industries and improve employment generation”. The items range from toothpicks to private airplanes and jets. Oil prices fell another 48 percent between April 2015 and January 2016. But the official rate has been held at its April 2015 level of 197 while the parallel market premium (the difference between the official and parallel market exchange rates) has skyrocketed ten fold to 80 percent from 8 percent in April 2015.

The naira presently trades at 360 to the dollar. The chart below shows the value of the naira on the official and parallel markets against the decline in global oil prices. It is apparent that the parallel exchange rate is driven by the oil price, since oil accounts for 70 to 80 percent of government revenues and the lion’s share of Nigeria’s exports. But it could also be capturing growing risk from macroeconomic uncertainty linked to the stop and go exchange rate policy: CBN was slow to let the naira depreciate when oil prices started falling with the onset of the global financial crisis in late 2008. In January 2009, it virtually shut down the interbank foreign exchange market, fuelling a significant parallel market premium.

Fortunately, exchange restrictions were phased out later in 2009; but not before the CBN burned $17 billion to artificially prop up the naira. The quotes above from Governor Emefiele and a paper on Nigerian economic policy written in 1987 indicate that history has come full circle once again. In September 1986, the parallel exchange rate in Nigeria was 5 naira per dollar, implying a premium of 230 percent over the official exchange rate of 1.5 naira per dollar. How did Nigeria get to that point? By the mid 1980s, oil prices had collapsed from a supply glut following the oil price hikes of 1973-74 and 1979-80. As a result of large fiscal and current account deficits during the boom period of 1973 to 1980, Nigeria’s foreign debt had grown to $19 billion by 1985. Agriculture, once a mainstay of the economy and of non-oil exports, collapsed because of competition from cheap imports and neglect. Over the ten-year period from 1973-1983, the Nigerian government directed very little public spending towards agricultural research and development or enhancing rural infrastructure, unlike in similarly oil rich countries such as Indonesia which spent heavily to improve non-oil sources of revenue.

Any reprieve Nigerian agriculture might have received after oil prices collapsed in the early 1980s never materialized because of bad exchange rate policy during the first Buhari regime. Instead of letting the naira depreciate in line with falling oil prices, CBN introduced rationing via an import license system. An imported good costing one dollar was more likely to sell for 5 naira (the parallel rate in September 1986) than 1.5 naira (the official rate). This meant a huge hidden tax on agriculture, since procurement prices were set with reference to the official exchange rate and little attention paid to international prices. This was perhaps the death blow to Nigerian agriculture and a big contributor to the growing concentration of oil in total exports.

Nevertheless, CBN resisted devaluing the naira, arguing ironically that no useful purpose would be served because oil was virtually the only export! However, by 1985, the economy was in a bad state with Nigeria’s foreign creditors insisting on an IMF program for rescheduling a relatively small sum of $2 billion. This led to a series of steps to lower the fiscal deficit and eventually CBN was persuaded that it would be a good idea to unify the official and parallel exchange rates. It decided to float the naira via an auction for foreign exchange. The main questions then: “what exchange rate would emerge from the float?” and “would there be an inflationary burst?” Most of my then colleagues at the World Bank and IMF believed an equilibrium exchange rate of close to 1.5 naira to the dollar would emerge from the auction because Nigeria’s oil dollars (the bulk of foreign exchange earnings) were allocated at the official rate. But a 1985 World Bank survey showed that domestic prices of traded goods were more likely to reflect an exchange rate of 5 naira to the dollar.

This fact had three important implications: First, the parallel exchange rate was the equilibrium exchange rate. In other words, the market had already corrected itself without action from the policy makers. The official rate was irrelevant from the perspective of the average consumer. Second, giving dollars at the official rate to importers meant handing them an instantaneous unearned profit of 3.5 naira (the difference between the parallel rate of 5 and the official rate of 1.5) per dollar received from CBN. Moreover, this “profit” was at the expense of the Nigerian government. This meant that private individuals with access to government could easily enrich themselves at the expense of the Nigerian people. In addition, as noted above, the premium was a ruinous hidden tax on the once-flourishing agricultural sector.

It decimated non-oil exports and inexorably transformed the Nigerian economy over time into the “mono-economy” referred to by current Central Bank Governor Mr. Emefiele. Third, if the central bank were to unify the official and parallel rates by floating the Naira, this would lead to a large depreciation as the official rate merged with the equilibrium parallel rate. However, there would be no inflationary burst because domestic goods prices already reflect the parallel rate. Any inflationary impacts would come from the fiscal consequences of the float. For Nigeria the impact would be a positive lowering of the fiscal deficit and therefore, inflationary pressure.

I vividly remember my 1985 conversation with an importer: “Would not there be an inflationary burst if CBN were to float the naira?” I naively asked. “You don’t understand,” he chided me. “The inflation has already occurred through the parallel market. All CBN will be doing is to slash my profit!” The present situation is eerily similar to that which prevailed 30 years ago. It is high time CBN and the Nigerian Government faced reality and avoided a costly repetition of history. Returning to a market-determined exchange rate via a float would probably lead to a new exchange rate close to that in the parallel market. President Buhari’s intransigence and Mr.

Emefiele’s hyperinflationary fears are unfounded because domestic goods pricing already reflects the parallel rate. To be sure, the unified exchange rate will depreciate further if oil prices continue to drop; but this will be because Nigeria’s national income is falling and not because of the currency float. Nigeria’s fiscal accounts and policy credibility will receive a much-needed boost from exchange rate unification. The investment climate in manufacturing and agriculture will improve dramatically with the elimination of the hidden tax from the parallel market premium. With the parallel rate at 360 naira per dollar, this hidden tax on non-oil exporters currently stands at 45 percent. The medium term outlook for oil prices remains bleak. Nigeria must stop selling its valuable oil dollars cheap. It must float the Naira to help its fiscal accounts and to prove that it can learn from its own past mistakes.

Culled from http://venturesafrica.com/

Read more at: http://www.vanguardngr.com/2016/02/naira-devaluation-doom-nigerias-economic-history-repeating/

Thanks for your feedback, just not sure what is hate speech in the write up. Might help if you point it out then I may improve. For me I don't lick arse, I am straight talking but I don't insult.

ULSHERLAN:
You would have driven your points well if you didn't resort to hate and anger. It just shows that no matter what, you will keep hating on PMB. Well being a leader is no easy task and if you have taken to any leadership position then you will understand that you cant just say yes to everything because you want to be a good leader.

If only you didn't resort to hate speech in your write up, you would have made a better point. Thanks

I do not hate PMB, I still can't see any hatred in the write up, except you meant he should never be criticised.

I was happy to read in Punch newspaper today the 26th of February 2016, that PMB has agreed to an economic conference. Even though I will prefer to call it a n"ational economic brainstorming session", the most important thing is for the conference to come up with an agreed strategy to move the nation forward from this economic mess.

Clearly, for PMB to have accepted to convey this conference, it is an acceptance of failure of Buharinomics. It seems to me he is a "leader in training" as far as economics is concern.

PMB cannot change the rules of economics, it did not work in Venezuela, it will never work in Nigeria.

The last time I checked the list of strategies to move a nation forward, I did not see,

Wishful thinking, aggression, anger, adamancy and ignorance.

We cannot control the price of a product we do not have "control" of its supply in the face of an increase in demand.

Conclusively, I hope this brainstorming session (Oh forgive me, economic conference) will produce a concise and implementable strategic document that will work for Nigeria rather than a Google copy and paste strategic document. Clearly it will take years for us to get to eldorado, however, the journey (ROADMAP FOR GROWTH) to our paradise must start very soon and until it starts and we maintain the path, we will go round in circles.

I still can't get my head round PMB's pictures at Medina. He and his entourage are busy spending the dollars we are short of.

Nigeria Nigeria....

I am not a pessimist as far as Nigeria is concern, I am however concerned that our president and the vice president are doing more of talking than action with regards to the economy.

PMB has reiterated his resolve not to devalue the Naira, my concern is that when the nation's monetary policy is left at the mercy of a president instead of the CBN monetary policy committee may only spell disaster. However let me be wrong and PMB is right.

So Mr president kindly release your strategic documents to move Nigeria out of the economic mess. You and your team have been harping on the need to patronise local services and goods instead of importation. I agree with you on this, except that you are not leading by example, Your recent holiday should have been in Nigeria (local services as you are preaching) and not in the UK.

Please sir, present your documents on

National export strategy, National Health improvement strategy, Power improvement strategy, Education transformation strategy, Transportation framework and strategy, Environmental management framework and strategy, National housing strategy etc.

I am yet to see tangible SMART objectives for most of our ministries. (Fashola presented 13 point agenda, they are not the same as objectives)

I have Google all of these without anything tangible. Mr president if you have the documents please make it public, if you don't, please let your ministers do some work for the taxpayers' money they are earning.

I don't want to be one of those Nigerians expecting a farm harvest when a seed has not been sowed.

Long live Nigeria, Long live FRN.

Strahovski1:
Stop blaming the banks. Your banks are buying dollars from the black market. CBN is not giving your bank dollars for you to spend on luxury abroad. It's only for PTA and BTA Which you get at 199 indeed. Any other luxury expense will be at the parallel rate.

How many times would we say this?

Thank you very much for buttressing the story

According to Abokifx, Nigeria banks charge your card at black market rate if you use it abroad.

BANK ATM RATES
DATE LOCATION BANK RATE CUR

22/02/16 Germany FBN N378 EUR
22/02/16 Germany Diamond N378 EUR
22/02/16 UK GTB N456 GBP
22/02/16 Online GTB N421 GBP
22/02/16 U.S.A Ecobank N400 USD
22/02/16 U.S.A GTB N320 USD
22/02/16 Nigeria FBN N185 USD *foreign card

Wishful thinking and anger does not move a nation forward - D ILORI

‎Investigation of alleged corrupt Nigerians is very good but it is the secondary stage when fighting corruption, the primary stage is to create a system that will prevent the corruption from happening in the first instance -D ILORI

Starve Nigerians of education so that "we the politicians" can continue in power due to their ignorance -D ILORI

Stomach infrastructure is the most degrading system to humanity in 21st century democracy - D ILORI

‎Prayer is a catalyst, unless it has a platform to work on, it will not be effective - D ILORI

The failure of a medical surgeon to carry out a vital operation successful is not a licence to give the job to a meat carver -D ILORI

‎Nigeria will not and CANNOT be better than the mentality of her citizens -D. ILORI

I appreciate PMB's "good intention" to prevent a run on our Naira, the government should focus on actions that will make local products and services appealing to Nigerians because the dollar is worth whatever people are willing to pay for it, irrespective of the peg price. -D ILORI

Good intentions and translation of good intentions into positive actions are as far apart as heaven and hell -D ILORI

Curing cancer cells by killing all human cells will only lead to death, our monetary economic policy needs flexibility not adamancy -D ILORI

My support for Buhari started wavering after the choice of his cabinet, more importantly giving power and works & housing to a minister was beyond my comprehension. His budget was the straw that broke the camel's back.

Achuwa1:
U are already lamenting GEJ when pmb is yet to buy a single bullet for bh war,,& he is winning the SOFT TARGET war with GEJ war tools.

i wonder what u all will start to say if he had bought just one bullet for the war..
. pmb dont understand governance & tht has wat has brought us to the level we are today..
. A typical example is,,,hw can a president give 2 heavy portfolio to just one minister to handle..i have never heard of tht from anywhere in the world..
anyway,enjoy ur change while it last

To make it simple for you, please when we export crude oil and get paid in dollars as at today, what is the rate of dollars Nigeria treasury get paid? CBN rate of course. The taxpayers get money at CBN rate but when the taxpayers want to pay for pure water which is locally made, it is now double the price they were paying before PMB. Ask the sellers why, they say dollars have gone up. So ask yourself has Naira not been unofficially devalued?

Adminisher:
Ole boy no vex. What kind of voodoo arithmetic are you doing that proves Nigeria is losing 90 percent revenue?
I like the way you write, it is short and sharp but almost everything else is a BIG LIE .

The Nigerians make foreign exchange when they export. That is not as simple as government revenue.
Goverment revenue is primarily from you and me paying taxes and selling oil and gas.
The foreign exchange thing kicks in only when we need to pay for imports. Nigeria does not exist for dollars. Please get things straight.
Our GDP size and the productivity within our economy ate the determinants of true value and wealth. Thete was an articke in Newsweek magazine a few years ago that the US economy was so big that they coukd grow by trading with themselves alone without internationsl trade . Please stop oversimplifying and turning an opportunity to restructure our economy into a joke.
North Korea , Iran and Russia grew their economies in an regime of internationsl sanctions in the last few years. Nigeria can survive with minimal imports.

The people you shoukd be blaming are the Jonathan administration. Do you know how nuch money Nigeria would have veen making from petrol exports and petrochemical exports if we had had a good president in place of Jonathan?

Nigeria will not and CANNOT be better than the mentality of her citizens -D. ILORI

babyfaceafrica:
Why you kon dey cry naw?..if naija too hot go to ghana!!!!!