₦airaland Forum

demstone:
den why are u celebrating tinubus govs like otti nd mbah but hating on ikpeazu nd ugwuanyi who owed over 1yr salary, obidenz,,,unah denz no b small

Who and you is celebrating Tinubu government?

demstone:
Of what use is an 18k dat only lagos, ogun & a few niger delta states cld pay.. wake-up my broda

The 18k they couldn't paid was more valuable than the 70k they can pay. The richest countries in the world have the minimum wages in below 1,000 in there currency while is increasing her minimum in her currency to make her citizens more poorer.

The 18k minimum wage was more valuable and Nigerians lived a better standards of life with it compare to the 70k devaluation package.

demstone:
minimum wage was 18k in 2015 but 28 of 36 states cldnt pay it.. today minimum wage is 70k , no state is owing nd states like ebonyi & imo pay 105k.. OBJ did well he took our reserves to $65b by 2015 it was $28b , PMB took it to a differential of $3b but today it is almost $50b

Shikena:
It's been officially declared several decades ago that Nigeria's economy defies economic logic.

It is difficult to quantify the natural greed of an average Nigerian businessman.

For example, news of impending fuel price increase or dollar increase is enough for an immediate increase in the cost of products across Nigeria but a corresponding actual reduction in fuel price or dollar value will not reflect in cost of products due to perpetual "we are selling old stock" argument.

When we told you guys that the new tax laws will make things harder for Nigerians, you guys defended with they are "taxing the rich and not the poor", now you complaining of cement prices.

Uchesis:
Even if they invest 100 trillion, the average Nigerian man will never feel the impact.


The prices of goods in the market will remain the same. Dollar exchange rate will still be high.


Know this and know peace. No price that rises in Nigeria ever falls down again

Has your minimum wage ever come down?

Elliotwaveforec:
Good! As demand for our bills is rising, the CBN should reduce rates so as to reduce debt burdens.

Single digit interest rate is good for borrowings.

Easy borrowing, easy money creation, money in circulation, inflation is keep raising.

DeltaBachelor:
Hmmm. All these investments, I hope it is not just on paper o, because we are yet to see the dividend or benefit to the common man o

Sit down, fold your hands and expect benefits when your next door neighbour is investing.

sirblend:
While Nigeria is still in darkness.....

It's clear Nigerians are being extorted because the presidency don't know what's is happening..


Infact in America power generation companies that generate 600MW of electricity make revenue of around $149 million yearly which translates to about N194 billion Naira..


How come transcorp made over N300 billion in revenue?

Nigerians are being extorted by this regime.

How do someone compares the revenue generated from a certain MW of electricity without evaluating its source of energy?

panpan:
The International Monetary Fund (IMF) is just a lending institution.
The goal of the IMF is to cripple the economy of non-Western countries.
No African country has prospered as a result of following the advice of the IMF.

By the way, why is IMF matter coming up on the front page almost every day?
Is the IMF trying to offer loans to Nigeria?

How do expect countries who borrow to consume to prosper?

Toredola:
This is good. But still na our stolen that is reinvested into our economy

Your stolen money? How is the money other people invested in T-Bills your stolen money?

apstpaulg:
This was very anticipated.
No business man doesn't want profit. Especially, business that loan was the capital base.
But then, why is it always that when Dangote comes into a particular sector, the price of that commodity skyrockets.
Business men are just like politicians.
Ones established, they forgot campaign promises.

Dangote was the one who also increased your minimum wage Abi?

orikoku:
This guy knows what he’s doing, that fuel price will hit 1k as he has said it. Reason he doesn’t want competition.

It not longer taxing the rich, it is now imaginary competition!

Zocalite:
Monopoly indeed

Have you ever heard oyinbo or foreign investors wan build refinery in nigeria?

That's cos

There's too much Shaddy dealings in oil venture in nigeria

Monopoly?
Where is the monopoly?
Which foreign investor will invest in country that citizens are supporting the government to reduce there purchasing power?
Wait, it is the same foreign investors waiting and looking for foreign investment from us?

mkoabiola:
As it stands now, Dangote dictates d market price

Unless another big competition comes on board, Dangote will continue to enjoy Monopoly

Big Competition, monopoly?
In 2026, someone is believing in fairytales. This is a citizen of country that sits and watch the excessive money supply firing up inflation, high taxation boosting the inflation was the unions encouraging by demanding the increment of minimum wage and salaries in nairas.

VanuatuWycombe:
Dangote is advising marketers who are buying from him to come and load their fuel at gantry instead of the marketers to request to be loaded at sea side (especially those buying into vessels).

He said if they prefer to be loaded at the coastal (sea side) area, it will add N75 to every one liter of fuel pumped into their vessels.
This additional N75 cost per liter will be passed to final consumers.

——
If a marketer is not exporting to other countries, why would they want to use coastal loading facilities?

Some of them may have tank farms at Apapa and want to use their vessels to collect fuel at Lekki then go and dump it in their tank at Apapa.

Taking advantage of Dangote’s free fuel delivery, I see no reason why a marketer, who is not exporting fuel o, will want to be loaded at seaside.

The only reasonable comment I have seen on this post, the rest are myopic illusionists displaying there emotional-based ignorance.

orikoku:
This guy knows what he’s doing, that fuel price will hit 1k as he has said it. Reason he doesn’t want competition.

Do you even read to post and understand?

adioolayi:


Sorry, how old are you

Anyone that witnessed Atiku Abubakar's privatisation process will never wish him on his or her enemies!

There is nothing to talk about..
He sold Nigeria's commonwealth to his cronies who have no technical know how about what they have bought....That's asides selling government assets at giveaway prices.

Please, that Privatisation he did is still one of the ghost hunting him till today.

institutions privatised by Atiku include:
Aluminium Smelting Company of Nigeria (ALSCON): Sold to Russian firm Rusal.

National Fertilizer Company of Nigeria (NAFCON): Sold during the reform process.

Eleme Petrochemical: Sold to Indorama.

Daily Times of Nigeria: Sold to private investors.

Egbin Power PLC: Sold as part of the energy sector restructuring.

Ughelli Power PLC: Sold to private investors.

NICON Insurance: Privatised during this period.
NICON Luxury Hotel (formerly NICON Hilton): Sold to private interests.

Transcorp Hilton Hotel: Part of the asset divestment program.

Sunti Sugar Ltd: Privatised.
Bacita Sugar Ltd: Sold.
NetCom House: Sold to private investors.

Murtala Muhammed Airport 2 (MM2): Privatised/concessioned.

Osogbo Rolling Mills: Privatised.

Onigbolo Cement: Reported sold to Dangote.
Nigeria Airways

You can ask anyone working at institutions like Teaching Hospitals for their experience also.

It was a disaster!!!

https://saharareporters.com/2011/08/12/how-obasanjo-and-atiku-destroyed-nigerias-privatisation-process

Commonwealth?
Nationalized organisations established to run at losses is still someones commonwealth in 2026

JASONjnr:
Nothing can beat Opay and other fintexh microfinance bank.

I'd even consider Jaiz bank but I'll stay with my Opay...

Can't remember the last time I went out with my ATM card....

I do transfer basically everyday and without card.....

Even a market woman selling only salt has a bank you can transfer to and she will receive alert instantly...

This is how people failed exams. The post is taking about the coming of a bank from the Middle East to bridge between Sub-Saharan Africa and its home country and you explaining another thing. Does banking starts and ends with transfers?

lionshare:
Abeg, we need cheaper credit. With a functioning credit registry in place, return of capital is well covered. Single-digit rates should be achievable.

What does the coming of a bank from the Middle East got to do with interest rate in Nigeria?
What concerns Islamic banking with interest?

nairalanda1:
The problem with communism is that at the end, government go run out of money, and even borrow more to maintain services, and would do things like slave labour to cut costs of extracting raw materials.

The government can borrow dollar loans collateralized by crude to import subsidized rice from Thailand but can't subsidized Nigerian rice?

bankyblue:
Make person explain give me.
Should we be worried?
Shy dangote they buy in naira and refine for Nigeria?

The only thing that I understand is that, if Nigeria government are smart people, they should take advantage of this oil boom and make more FX for the country.since we re an oil producing country, it should be a blessing and not a curse

Oil boom?
When the price of rice increased to 90k per 50kf bag, majority of Nigerians stop buying rice because they couldn't afford. Now oil prices are rising and you are talking about making more forex when the demand for crude oil is declining?

nairalanda1:
That leads us to why I don't support this government, something I have explained several times here

In brief, Nigeria is not making enough money because we have incompetents at the top

Period

Are the communist system of government we run in Nigeria suppose to make money?

ceejay80s:
The day Dangote enter petrol , cement pasta business,
Nigerians fell to his knees

Dangote is your problem and not the Tinubu that promises to reduce your purchasing power?
Continue to defend nonsense!

DatIgalaDude:
All this speculators and analyst are part of our problem.
The price increase is not significant enough to cause an increase of pump price to 1000 Naira.
Marketer have their own agenda. This is just an excuse to rape our pockets.

While not build your own refinery and let's experiment whether it is enough or not?

miracle002:
Dangote is getting the crude oil for his industry locally and at subdizised rate. So why is he increasing the price of petroleum just shortly after reducing it

Subsidized rate?
Are you the one paying the subsidy?

Harrisonwo:
I'm more interested in seeing if T-pain will still borrow to fund the 2026 budget.
Benchmark was approximately $65/b, if it crosses $70/b then we should have surplus and a boost in foreign reserves since they don't pay petrol subsidy

When the prices of a product increases, the demand and number of customers buying that products reduces. So, where will the surplus come from?

miracle002:
That's the truth my brother. We like praising our oppresors and I don't know why. Look at cement just as you said although he is getting the raw materials locally.

I pray he doesn't fend of his competitors as he has trying hard to do, If not it will be hell on earth

Cement is the only that increased in your eye, other commodities are cheap abi?

esemes256:
If crude oil price rises by 3 to 4%, shouldn't the price of petrol also rise by only 3 to 4%?
Why is petrol price rising by about 14% for a 3% rise in crude oil price?
Why are prices so easy to rise but slow to drop down?

Have you ever heard of multiplier effect in economics?

ravensckar:
Trust me, Nigerians are beyond being saved.

My own anger is how we do the same thing and expect a different result.

Imagine trusting Dangote who got into the cement business and made it unaffordable for the common man (despite sourcing the raw materials locally).

The day that guy will finally fend off his competitors, that's the day Nigerians will see "premium shege".

A good example of doing the same thing and expecting a different result is sitting down, folding your hands watching the money supply of an unproductive nation grows to ₦119 trillion, minimum wage increase in volume and not value, tax increased, the prices of land rises and you celebrate it as the best investment forgetting that land is primary factor of production.
Continue to entertain yourself with imaginary competition and monopoly theories while Tinubu promised to reduce your purchasing power.

udeh3:
My question is simple, especially for those who travels regularly to the middle east: As the international crude price increases, for Oil producing nation, does it affects them in terms of pump price increases?

I'll be waiting for response, cos in Iran, Libya, fuel is almost free!

Basic products like petroleum products are heavily subsidized across the world including Middle East and there is no country with Nigerian kind of population depending crude to survive that is not suffering

NelbromTech:
Now that the government has removed subsidy, where the money enter? Are you seeing the money in electricity, security, Healthcare and others?

Which money?
Government get money?

miracle002:
I made a post about Dangote's ulterior motive during his face off with Farouk. You people ate me raw.

Dangote was reducing the price of Pms, fighting importation and competition just to gain monopoly.

Look at the little shege we are seeing

What would have happened if he had gained absolute monopoly.

You expect petrol prices to remain constant when oil prices are ever changing?
Tell yourself the truth for once.