IamANigerianMan:

Nothing smoke screen here, even in a developed countries a notable business person cannot be humiliated like that, if it is America FBI provide security for him, FBI don't follow him about but they tell him or advice where and where to go.. Go and search Google, he is the richest youth in Nigeria today, no country humiliate such people... Thanks don't argue out of ignorance.

You have no idea what you’re talking about

99thEnemy:

Ok.. Educate me,

I am all ears.

Tell me what I don’t know.

What I know is that the government plays a role of intervening and making policies that affect individual traders and marketers. The aim is to correct market failures, promote efficiency, and achieve social economic goals for fair balance of the market.

We have to remove all forms of emotion when looking at things like this.
Did FG help these supermarkets with the required capital to start their respective businesses?
What about the cost of fuel?
What about the cost of electricity?
The supermarkets and open markets are very different. If I bought a container of goods when dollar was N1900 should I sell lower than my cost price because dollar has gone down?
What about the cost of diesel?
You cannot tell private businesses how to conduct their daily operations, they have a business model they must abide by.
Let’s not forget the optics of this, how would foreign investors react to this? If foreign investor sees that he has no control over his business would he consider coming here?
I’m just giving a very rudimentary explanation, it’s a lot more complex than this.

99thEnemy:

Have you heard of price regulation?

tomorrow you will come here complaining that why are prices going up, while it is the greedy traders to set/fix prices at inflated rate from what it should be.


they are quick to increase price of goods as soon as they hear the news of increased Cost price even though they have old stock, but the reverse if the case when Cost price comes down and they have new stock at the new cost price.

I believe its ok for you if a commodity is bought for example at N50 and sold to you at N500.

Now that they are regulating you are looking at it like a dictatorship.

Wetin una want sef?

Get educated on microeconomics before spewing things like this online

This is so idiotic. Enforcement of food prices will only lead to food shortages. You can force a man to sell at a price but you cannot force a man to continue business. This is a very dangerous trend. If FG wants prices to reduce they should create policies to attract more players in the agricultural sector ex, protecting farmers and land. The major problem we face is that we make policies for individuals and not industries. It only takes one individual to reduce price and others will follow. Enforcement of prices solves nothing, Buhari tried it in the 80s, there’s a reason he was removed from office

Nigerians are so gullible. Net worth is about $10M yet he can afford a third jet with a price tag of $75M. He’s using you guys to catch cruise and you’re all falling for it. Many artists rent these jets.

You would think that a company that makes $ Billions annually will get their act together and provide a more stable service. Besides YouTube nothings working for me. Both my router and mobile data are down. Even their call centers aren’t responding on my end. I might just switch to starlink if this rubbish continues. Kangaroo nation

HBB1:



Only haters can connect such dots.

Clearly you don’t understand the mechanics of the markets.

If there is something that isn’t lacking in Nigeria, it’s certificate, degrees and professors. Yet the country is in a mess. I don’t care about his degrees, the main question here is with his experience can he perform and bring fresh ideas. One of our past presidents has a PHD yet the country was a complete mess under his watch. Degrees mean nothing.

Seems like a covert pump and dump to me. Rabiu is fast catching up to his cousin and Dangote fears being overtaken. Not to mention Dangote and Otedola are very good friends. Can anyone connect the dots here?

Your brother is already escorting her. It’s December, and she’s an adult, she can’t ask for approval every time she wants to go out, unless that was your agreement from the beginning. If you don’t trust her the marriage cannot last. Be at peace, there’s no problem. Go for your own events. High blood pressure kills.

N280M…imagine leaving that money in low yielding index funds for 10 years, you’ll have almost a billion when you’re removing it. You don’t see bill gates children spending money like this, or Elon’s children. A wise man once said black people are consumers while white people are merchants. But we’re not ready for that conversation

Hold on is it not the same Lagos that we’re living in Abi eyes dey pain me ni.

ShugaSneh:
This old woman that refused to act her age.

When she use to dance for one local yeroóba musician and showcasing her black as*s to the world..... she's behaving like the south wast.e ewedu munchers.

Lol see envy on full display. Pray to God that you’ll have children that’ll do better than you. You seem like a bitter person. Jealousy and envy leads to untimely death.

This is stupid advice. Fellas, don’t listen to this. The good thing is, the more experienced you are, the better you are at guessing the body count. A fisherman doesn’t ask fish for advice.

What we need are policy reforms that will affect us long term and help stabilize our volatile economy. What will a phone do for these poor guys? A depreciating asset? Where will they get money for data? Let’s get real. Use your power to advocate for policies not this abeg.

I will never understand the importance of news like this. Like how is this currently helping the economy right now, or is it improving the exchange rate?

Angelfrost:


You are going in circles... Let's resist the need to play games with facts.

Citizens have very little to no influence over such matters.

They are not policy makers, and do not have free reign in the exchange market.

Naira has been falling badly for at least a decade, if not more... That you didn't notice it all these years is simply because your past presidents have been using loans to buffer it.

That's called subsidizing the Dollar! Tinubu has tried to remove most of these subsidies, hence the recent massive fall.

Your nation's currency needs to be in high demand (I can't stress this enough)!

The only way for that to happen is if massive international transactions and businesses are done in Naira not Dollar... And that won't happen in a an economy that is highly import-based.

We consume mostly foreign items, from medications, fuel, down to data and TV services.

Nigeria and Nigerians need to rapidly and massively start looking inwards. We need to start boycotting foreign products like MTN, Stanbic, DStv, and start refining our own fuel (this is the very biggest way out of this mess).

I am less concerned about what private citizens choose to do with their personal finances... That's their right.

Once we do the right things... Naira will greatly appreciate on its own, and no one will bother to purchase and hoard foreign currencies.

Reality! Reality!! Reality!!!

You’re talking to a Chartered analyst, I know all these. I’m a capitalist at heart, I have a laissez-faire outlook when it comes to policy and the economy so they can do whatever they want with their finances. However, where is the place of patriotism?

Mrfeel:

My friend keep quiet , everyone invest money to gain money nobody invest money to lose money

Typical Nigerian.

Angelfrost:


Let me conclude on this comment...!

Betting is everyone's right.

You can't elect leaders who run an insanely expensive government, I may add, then turn around to heap blames on citizens for poor fiscal policies of those directly in control of the nation's economy.

That's weird and amusing.

I understand that these moves and comments of your fellow citizens irritate you, but your anger is
Your fellow citizens are as helpless as you are. Take it from me.

Everyone will do what he can to survive... That's their right.

You should channel your anger to those directly in charge of the economy.

Leadership is powerful... There is no great move from Aso Rock which everyone won't follow, both haters and lovers of the nation.

Haha oh please let’s get it clear, I’m not helpless, I have an inflation proof portfolio and I also earn in various currencies. I’m not speaking out of pain nor anger rather concern.
I believe in the free market and I’m quite laissez-faire myself. However it shows the intent of the heart of the masses when things like this happen. Growing a country is a two way street my friend, you cannot tango with yourself.
“Don’t ask what your country can do for you”.

Angelfrost:


There is a time and place to apportion blames to citizens especially those in third world nations whose voices are suppressed daily in so called democratic dispensations.

Nigerian citizens are like sheep without shepherd... If you can't see or understand this, them your intelligence is really in doubt.

They are like confused passengers in a derailed train or sinking ship. What exactly do you expect most of them to do?!!

I'm not a speculator. I love living in the truth.

The truth is simple, and I will keep saying it, if you like hate it... That's your headache.

Naira will never rise or do well against the Dollar except it becomes in high demand!

It can never be in high demand if we don't move from massive importation to an export-driven and internally producing economy.

This is not speculation... This is basic secondary school Economics.

So, if anyone with half a brain sees this grim picture, and decides to make moves to shore up Dollars in savings, it isn't his fault... He is not being unpatriotic. He is surviving the fallout of a poorly led country.

When we insist on voting in honest and intelligent leaders regardless of religion and ethnicity, some of you think we are talking too much.

Reality is a bitch.

I want to refrain from insults, let’s stick to facts. Go and check our recent figures. The country is facing serious challenges yes, but the exchange rate is not a true reflection of that right now because of bad policies and greedy Nigerians, especially Nigerians who are not using the dollar but just want to keep it for speculative purposes. I have seen the figures, I work with a major OTC exchange. The people adding to the pains are the speculators. If you want to shore up dollars then you’re free to leave the country to earn forex elsewhere, but dont earn Naira and then proceed to buy dollars just to keep it. You’re destroying whatever value is left of the weak currency.

Mrfeel:



You are mad , everyone is struggling for his own benefit the government is not feeding anyone so get lost , we didn't steal the dollars we are keeping we bought it

Just look at this one. Imagine the thought process. You’re speculating to see if the Naira will depreciate further. Nigerians are the only ones that’ll bet against their own country.

Angelfrost:


Quit talking like a petulant child.

Blame no one else but those you elected.

Citizens are not in control of the financial markets... Your leaders are.

You can't compel or demand patriotism when those in power don't even want the nation's progress.

Do the right thing, and even the worst citizens will fall in line. Simple.

I’ve found one of the speculators. Very lazy mentality, “ok since our leaders are destroying the country let me also destroy the country and profit”. The mentality of the average Nigerian. A society gets the government it deserves, our leaders are a reflection of the majority. Understand first before posting this.

Godsongang:
Make naira just enter 2k before the end of this week, gbam latest odowgu in town don show bi that, my village people go collect rice and other things for Xmas and bye bye to Lagos.

People like you are the ones adding to the pains of the average Nigerian, yet you insult your office holders and elected officials, what you’re doing is no different. We import basically everything, we don’t use Naira to import, we use dollars. What do you think will happen to the price of essential goods in the market if dollars get to N2000+? whatever little margins you think you’ll make will be destroyed by the high cost of living, and those same village people will collect only pain and suffering. Do you think the marketers will be mute? Economic fundamentals is very important. Educate yourself and don’t shoot us in the foot for your small meager gains.