₦airaland Forum

youngsahito:
Backwardness as how, don't they belong to the govt anymore? What is stopping the corrupt govt from giving it to private individuals to manage and they share the profit at the end of the year or a total sales of them.

When Obasanjo approved the sales of Port Harcourt refineries years, NLC, Pengassan etc didn't protest until the sales was reversed by late Yar' dua.

bdon123:
I partly disagree wit u...we hav population n we hav millionaire's in usd alot.wat is population in south africa compared wit naija.we hav many silent billionaires in naija na u no know...Its jst illogical for any country in africa to hav more millionaires in usd than Nigeria. India for example has alot of poor people double that of Nigeria. Bt then india has more millionaires in usd than nigeria becos of their population of over 1.2B

Imaginary silent billionaires

Ezeama400:
There is great problem in Nigeria .

Dangote is the richest man in Africa, yet Nigeria ended up with 4th position, very far behind Egypt and South Africa

This is why I keep telling people to stop celebrating nonsense.. One of the characteristics of a successful society is the number of people doing well in such society, not celebrating the success of one person, to cap it all, the top three countries even have lesser population than Nigerian..

What a mess !!!

You celebrate nonsense when you clap people who shout "money na water" just because they are your tribal men. People who preferred spending there money on luxury than production, people chose sole proprietorships over limited liabilities and structures.

Eriokanmi:
Dangote and Adenuga are working for and managing the assets of former Nigerian leaders. Take those assets and investments off their hands and thry become hustlers. Thise SMEs that are unopposed to turn millionaires have been killed by the apc's poor and failed policies, led by Tinubu

While not take those assets from there hands yourself and begin manage?

wanimo:
This statistics is wrong. $1m is just N1.6b..... people wey dey inside market wey get this money for Nnewi alone pass 2000. Onitsha 2000. Alaba 2000, Ariaria 2000, Idumota 1000 Kano Sabon Gari 5000, Abuja 10,000, .... Etc

Networth is measured by asset minus liabilities especially shares of a publicly quoted company and not transaction turnovers.

flokii:
Monopoly kills the economy of any nation.. no matter the genius you put at the helm of affairs, once monopoly is allowed to thrive, the economy is bound to colapse.
Healthy competition on the other hand grows the economy, create employment, promote standards, provide varieties for consumers, etc.

The best model to grow any economy is by "healthy competition" not by creating monopolists masquerading as businessmen, richest black man and whathaveyou.

Monopoly and healthy competition, one the biggest fairlytales believed by most Nigerians.

youngsahito:
Dangote is also enjoying this monopoly in the petroleum industry. The govt refused to fix state owned refineries putting everybody in the country at the mercy of Dangote.
Tinubu is a corrupt man that only make way for his cronies that is why Dangote is singing praises of me. Oju yobo

In 2025, you are still talking about government refineries?
What kind of backwardness is that?

grandstar:
Submit ke?

The US is eons ahead of China. I doubt China's GDP will reach that of the US in 20 years time. The Chinese economy is currently in trouble.

Are you aware that higher GDP in dollars for US been it's local currency means higher inflation rates, higher prices of commodities and dollar devaluation while it is opposite for other for any other countries?

FreeStuffsNG:
Dangote, Ethiopia ink $2.5bn deal for world’s largest fertiliser plant


https://punchng.com/aliko-dangote-ethiopia-ink-2-5bn-deal-for-worlds-largest-fertiliser-plant/

There is something getting twisted about these news. The article says Dangote Group implying Dangote Industries Limited while the write-up in the background shows Dangote Fertiliser Limited.
Dangote Fertiliser is supposed to be shareholder and not DIL.

immaculatesense:
The bottom line is that we are an exporting country in the last two years under the leadership of PBAT whether it is private induced or public or synergy, we are on the right track.
No Be Juju Be Dat?

Exporting Tinubu wasting taxpayers money travelling from one country to another only to borrow dollar loans and celebrate it as inflow

Leboska:
With all this inflows if is true Escobar still borrows more than any leader & loot it dry with his cronies thanks to Abuja land graber

You are supposed to know that those inflows are loans

LaIabobo:
Yes because it is a global currency so there is huge demand for it. Also people over the world still trust the USD.
However they cannot keep printing endlessly as it'll also affect its own economy. So these days, the reserve bank just create digital dollars and credit bank accounts of creditors.

Yes, you are right but the digital dollars are digital cash (parts of the money supply).So, it is still the same thing.

Great100000:
Source: https://nairametrics.com/2025/08/24/top-10-busiest-airports-in-africa-as-of-july-2025/10/#split_content

Anytime a post is made about airports or aviation in Africa, Nigerians are quick to compare there minimum wage to flight forgetting aviation traffic is commanded by tourism and international business presence and not civil servants and petty traders.

stonemasonn:
A system must be created to tax these transactions or else this is pure money laundering.

While other countries are creating stablecoin reserves to boost there currency value, APC supporter only knows tax!

ivandragon:
You obviously have no idea of how important small businesses are...

https://www.pwc.com/ng/en/assets/pdf/pwc-msme-survey-report-2024.pdf

You also have idea of how SMEs can merge and form global gaints

Hespee93:
Anybody that believe that Dangote fight to solely take over Nigeria oil business is for the benefit of common man is nothing but a fool that has ever lived.

Rather, anyone who thinks that he or she will earn a lot of nairas as minimum wage with naira pumped into circulation by the CBN to provide liquidity is fool.

greatness4life:
Exactly what every other person wants in this country, but the truth is that inasmuch subsidy is removed, fuel price can't come down, so the solution is to bring back fuel subsidy

What happened to the secret subsidy on imported petrol called under-recovery cost?

abbey621:
Maybe you should update your records and see how many times Apple have been sued for Antitrust both in America and Europe. Same goes for Microsoft, they were actually forced to split part of their businesses. Even Facebook is currently in a legal battle and might be forced to divest in the future.......Knowledge is power, even if you're not here in America like me, at least use Google to research these things before criticizing!

Antitrust forcing split businesses and expanding to gain more monopoly instead fighting there so-called imaginary monopoly? What joke!

ivandragon:
That you do not understand how negative economic policies affect the common man does not make my position off topic.

Let me give you an example.

You stated that the companies can make more revenue exporting to cover the reduction in sales in the local market as a result of the 'devaluation' of the currency and drastic reduction in purchasing power of the masses.

Now, have you looked at the ripple effect it would have on small scale businesses?

If sales have reduced locally, it means SMEs that depend on the company that now exports its products will gradually stop operating since less people are buying the product.

If those SMEs fold up, what do you think happens to the workers? Or you are one of those that think that handouts from government are a good substitute for real jobs?

On the other side, the elites have shares in these companies you so happily state are making more money due to the devaluation. The government also makes more revenue which it splurges on itself to buy jets and yatches, and give out ridiculous contracts to cronies without following due process...

So I ask you, in the long run, who benefits from the incompetence of the government? The elites or the masses?

Before you satisfy foreigners, first satisfy your own people.

SMEs needs to merge and form bigger companies and stop playing SME for years

HydraFeeds:
The only way to make local production thrive is if their products are cheaper and quality compared to imported ones .

People don't buy things based on emotions but based on satisfaction.

This will only happen if those rice milers goes on acquisition and merger to form bigger companies and not one man, one rice mill.

CaptainFM1:
Before he became president nko? Abi wetin this one dey talk?

How many politicians have you seen in Forbes list

abbey621:
Immense philanthropist and monopoly don't look good in the same sentence.......If he was based in the USA, antitrust lawsuits would be flying left, right and center

The antitrust laws are blind to Apple been only American phone brands, blind to OpenAI's chatgpt, blind to Microsoft dominating the word processing space, blind to Facebook, WhatsApp, Instagram, Threads own by Meta?

abbey621:
The question is not their wealth but how has their individual wealth contributed positively or negatively to their respective nations. Oprah for example is known for her charity work, ogbeni Dangote and Adenuga? Make we just dey laugh

The internet on your device must truly be waste a space

CaptainFM1:
The use asset worth estimates. They can't be absolutely accurate though because most African billionaires don't declare their assets.

Somehow, I think President Tinubu should be among the top 10 too, but you will never see Forbes listing him among the top 100.

How many presidents have you seen on Forbes list before?

WowSweetGuy:
Rich people. Dangote is Nigeria money

Continue to play around

inoki247:
How Mike Adenuga dey always dey list I never still understand....


Bkuz I believe he no fit be only this Glo network wey dey torment people life they give am the money

Dr. Mike Adenuga owns majority of Conoil Plc and share a part of Julius Berger Plc

SlavaUkraini:
Nobody is paying Subsidy anywhere for substandard products

Nobody is paying secret subsidy but paying under recovery cost of imported petrol to make it look cheap when it is not

SlavaUkraini:
I repeat.... Do the math

If cheap petrol is what will save Nigeria from this Subsidy nightmare, then so be it..

Cheap substandard imported petrol with secret subsidy after subsidy removal

SlavaUkraini:
So it is the Bonny light crude that you export and refined in Europe that is being imported into Nigeria ?

Use your brain 🧠🧠🧠🧠

And do the math.

You imported cheap petrol without subsidy?

atobs4real:
Thank you for that analysis. ₦70,000 and turned to ₦700

It would have been better if Nigerians earn a minimum wage of ₦700 with a purchasing power of ₦70,000

SocialJustice:
Minimum wage should be 500k.

The higher the minimum wage in naira, the higher the prices for commodities in naira, the more naira enters into circulation to causing more inflation with naira depreciating against the dollar.

fineboynl:
It's shocking that we are still using the old naira side by side.

Remove the old notes. Print 2k, 5k and 10k note

Stop borrowing. Nigeria trade is balance the problem is the now. They are using more and more loan that already piled up.

Businessss cannot survive

Print 2k, 5k. and 10k? Are you ready tobuy a litre of petrol for N10,000?