₦airaland Forum

Corruption in Nigeria is so blatant one would think it is their Right!

I like the low hanging fruits Buhari refused to pluck compared to Tinubu that is trying his best to correct the obvious.

But I do not trust these Western Economists chasing the spoils of wars in developing countries. They got us where we are, in abject poverty, in the first place.

Some of the ignoramus just think it is hip to use the N word. They have not visited the airport or may ha e visited for a few months before deportation.

Bottom line is, it is beeped out by decent media.

One of the champions of Structural Adjustment. Actually, no need to reply you but some people may benefit.

He wants scholarly article to back me up, abi? Those scholars that brought Nigeria down to this point backing Structural Adjustment!

So you do not know that capitalism, socialism and communism are economic theories? Ndo, so na you ai dey argue with.

Come up with a list of countries that escape poverty by trading with it's neighbors?

See me see trouble o. You have never heard about European Economic Union, Canada/America/Mexico Free Trade or Asian Pacific?

Na only God go save us from these educated people o.

Let me bring you closer to a country you may be familiar with. You ever heard of Nigeria?

Nigeria traded and fed most of West Africa and beyond. People come and bought Nigerian pounds one to one and later naira at one and a half American dollars. Nigerian pound and naira we're sold overseas, including London. The Nigerian Government had to punish naira exporters.

Actually, Nigerian Government had to change naira. Some of the privileged Nigerians smuggled naira back home. Your Presidential candidate Atiku as a custom officer tried to stop one of them at the Airport until order came from Oga at the top.

My educated scholar, that is just one country that prospered by trading with it's neighbors.

Capish?

ivolt:
From your topic, I had assumed I will be reading scholarly article on economics of floating exchange.
But I was disappointed, you are appear to be one of those who believes that pan-Africanism and emotional
appeal is an economic theory.
Please tell, what is the benefit of selling crude oil to South Africa over selling it to China?


Before you reply, go and do your research and come up with a list of countries that has escaped poverty by
just trading with its neighbor.
.

Many men look at Lara, Oshiomole wife and say I fine pass your husband

You are going to crucified this lady just for saying she fine pass?

There are many fine ladies and men that are not married to desirable partners. Some of us know at least, a few of them.

Biko, leave this lady alone jor.

orohbiro:
I fine pass the wife

The problem with many privileged foreign money millionaires is that they never have enough. Always looking for the next opportunity to launder.

If they are willing to risk jail laundering money overseas, there is nothing they wont do.

How hard is it to understand that Nigeria does not print foreign currencies and can never satisfy legitimate and illegitimate avarice.

Even real business and international corporation that have all the materials they need in Nigeria still apply for forex. Including those that source sugar and water!

oyetpel:
And will the dollars be readily available?
Is dollar our currency?
It's because big influential people store dollars, that's what usually make dollars scarce in the first place.
So, definitely sooner or later, the dollar won't be enough to cater for Nigerians who needs it, which will lead to another black market.

My friend, you have specific problem

Ogene001:
Most of those capital flight happen in yorubaland. They are economic iliterates

Let us be constructive with the new Nigerian Government. So far so good.

We do not have control over foreign investors. They can come, inflate our stock market, take their profits and run.

What we have control over are our African investors, some of the largest in the world. They launder and invest every where but Nigeria.

They are the lion share takers of Central Bank foreign Reserve from foreign income paid for our natural resources. Go after them softly and kindly with incentive.

The amount of foreign income stashed abroad is greater than investment coming in. On top of that is the foreign remittance sent in by Nigerians in Diaspora hijacked with unlimited naira at the black market.

Why do we run after what we have no control over?

Some of you might have seen a East African video going round asking why Africans cannot trade with one another in local currencies.

If you want to buy goods and services in Nigeria for example, exchange and trade with one another without American and European currencies to make local currency strong.

Of course, it is not all but we can make it a significant part of our trade. Our basic needs like food, shelter and paying for families are in local currency.

There used to be a time when foreign currencies were illegal. Special permission was needed for travel. Dr. Shodipo and FELA were jailed for violations.

People actually paid to make our pound one for one. Now that the exchange rate has been destroyed, we are all paying

If you are Yoruba, nobody trained you that way, over honest opinions.

Epistasis:
Oponu ni baba eee

Oponu,

Everything has to be along ethnic lines.

Mention one African country that has ever recovered since Structural Adjustment, you no gree.

Epistasis:
We don hear you... Obidafts as usual, if it was done by Obi you would have hailed the policy!

The policy of floating has been going on in African countries for over 70 years when currencies were backed by gold. Is it not ironic that even Gold Coast currency can be weaker than those of countries where the gold is deposited.

Please, it is not about current policy of the Government, it has been implemented years before this Government.

Ko le wok!

sapele914:
Nigeria is credit worthy of a huge IMF & Paris Club loan.

Float the Naira, it has been done, remove subsidy on petrol, it has been done.

How many African countries have ever recovered from depreciation of their currencies?

When it comes to African currencies, it is how low it will go. It has been to the advantage of western countries to buy our resources at low and lower prices. China and other Asian countries have joined.

Compare that to when the Chinese depreciate their currency to corner the market share for their manufacturing sector. The world go to China, even for covid 19 masks.

Making the same argument for African countries without manufacturing products in demand by outside world is so myopic and selfish of Western trained economists working for their masters and pockets.

When Mugabe got tired of promises and took back their land, it was not an economic decision to turn Zimbabwe currency to toilet paper. Zimbabwe was still rich in natural resources but they cut off demand for all Zimbabwe products depriving them of foreign income.

This is how Structural Adjustment was introduced and our Oxford trained economists and importers of pins and junk bought the wish of their masters. What artificial product is in demand from Africa apart from buying our land and Natural Resources cheap?

Strong African currencies can only come from inter African trade not from foreign trade and tastes after a century.

Can anyone today believe we import garbage sent into high sea looking for buyers, used infected clothes, plastic rice etc.

Africans, our Salvation is within us here in Africa, not in foreign countries. Even the common man that trade on each of these items fight to protect them.

Onitsha has always been a beautiful city from those days, even without the modern buildings. Those blocks of buildings can be found anywhere in the world. The are not indication of civilization, the people are.

Onitsha is where you find the tolerant people in those days. They were liberal and accommodating. Indeed, so much so other Igbo do not see them as real Igbo.

In the days when high school children go on excursions all over Nigeria, Onitsha was a definite stop. Mind you we lodged in high school boarding houses throughout Nigeria.

I missed those days.

Until we realize we are all merely players, all the world a stage. No position is permanent.

Politically, I would have preferred Aisha as a lady who is conversant with women and Youths issues.

But how did she get to become Deputy so young with less experience? She reminds me of Sanusi who became an economist from a degree in Islamic Studies from Egypt, pushed through the banking sector in preparation for higher position.

If she was so close to Emiefele and they worked closely together, I will not be surprised if she is arrested also like her boss.

You certainly need fiscal and banking policies in that job, not just one or the other.

There is no looter, drug peddler, rogues like the three Presidential candidates Nigerians cannot defend.

Your pockets go set your brain right. Instead of the poor paying so that a few people people can remain rich.

Lower demand will bring down petrol and gas prices.

I am beginning to suspect that some of us are so obsessed with hate, we may have unlearn our African culture to build goodwill in the village to raise a child and foster good Youths behavior.

We are now projecting hate on one another. Elders encouraging hate should be ashamed of their children.

Rostikol,

As usual, very impressive work on your part to educate many lost sheep into Islam, Christianity and slavery.

The vestiges of indoctrination and slavery have not left us. It is so bad, we took History out of schools to be filled with the work of those who justify slavery.

It should be noted though that we find these beauties from Sudan to old Zimbabwe. Despite today suzerainty, we are one people with more in common. If Nigerians deny one another but hang on to Egypt or Israel that came into existence after them, what should we expect of those further away?

Moreover, I sometimes wonder about how much Art and Archeology we have lost to rain and moisture. If some of the Arts stolen had remained in such weather, we may not have preserved them.

Even the ones returned are re-looted for foreign money that has replaced some oblongata medulla

The song Rich Until I Die exemplifies the mentality of our country.

When everyone worships money, some will do anything for money. This is what we see today and leads us into immoral society willing to throw even our dearest under the bus.

We all need money to live and survive but Nigerians want money they can spend
stupendously even if they take food and shelter away from the gullible.

There is no guarantee that anyone will be rich until he dies unless he uses his brain to manage the money well.

So how can we blame our Youths for copying our politicians's ways to riches?

There are three types of defense mechanisms;

1. Produced by white blood cells to fight diseases

2. Hormones production for stay, fight or flight against enemies

3. Generally to cope with psychological assaults

Each for survival

Many people need private cars to get to work and make a living.

Cars are not needed on certain ROADS. It has become status symbol while there are no adequate roads. It takes too much time to get from one location to another.

Cars have become "gifted" for every occasion clinging up the roads for needed and essential transactions.

The suffering as a result of cheap fuel must be reduced and the savings directed to better and designated roads for business and essential services.

But then, what happened to the money saved from Paris Club payment?

Nigeria was owned by British corporate conglomerate. It was passed down to Mafia conglomerate selected from the three main ethnic groups.

Dangote/Dantata, Otedola, Ibeto and a few others were the major beneficiaries of all our foreign income. Jonathan that was expected to change that since he came from the major oil producing states joined them with his cabinet members.

Now that Dangote can generate his own foreign income as he has promised, others will take his place in sharing the foreign income.

We need a change of indoctrination that everything foreign is it or a revolution to change the status quo. But remember, we had a revolution once that was ethnic(tized). The rest is history.

Foreigners rush to Africa, Nigeria in particular while we FLEE to make a fraction overseas. Who is ready to dare the Lions of Nigeria?

This incessant self destructive behavior started with Maitamashine Boko Haram and now Igbo are killing one another into compliance.

Might be the Yoruba learned from Kiriji civil wars.

Those decent enough see the self destructive behavoir of African men as an extension of Slavery that kept us in the Dark for over 500 years.

So white idols rapped in the name of Saint is the only way to heaven.

Not only do you worship them as saints, the named you countries Saint Sugarcane Plantations.

simplesearch:
So you think Idol worship is home to Africa?

What is going to save us from these un-African religions?

There is no way we can create enough states to the satisfaction of each ethnic group.

The best we can do is go back to three Regions in the North and three in the South.

Until we finally break up into whatever.

What is surprising is that people that are much older from the old world are claiming to be descendants of people from the new world.

They ignore all scientific research and turned them upside down to satisfy their inferiority complex of Me Too!

Buhari used Idiagbon to fool most including moi as anti-corruption crusader.

Come to find out that he is even worse as a terrorist.

Sorry, I thought I replied a reasonable man about the hypocrisy of the western world teaching Africans about morals and ethics.

We need to be selective on who we discuss moral and ethical issues with on social media.