₦airaland Forum

I remember when OBJ sent in helicopter gunships after him and his militants, the next thing these boys started doing was to blow up oil infrastructure and assets.

Diamond098454:
What is the meaning of PCOS? Just one year in marriage ? It's too early to start getting worried over having kids Tell her not to worry herself kids will come very soon

You're officialy confirmed to have fertility issues if you don't get pregnant after a year of trying.

EdonhappenTv:

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

A social media user shared a funny but confusing encounter with a young boy he had seen earlier pretending to be blind.
Later, he was surprised to spot the same boy standing among a crowd, watching two rams fight.
📹: TT/razzymoore0

As long as it isn't a blind security man, it is all good.

That $800bn figure is pure fiction.

I went to Macrotrends I got more accurate figures https://www.macrotrends.net/global-metrics/countries/nga/nigeria/gdp-gross-domestic-product.

We need to be honest: the GDP figures were boosted by very high price for crude oil. Once the crude oil price startied declining in July 2014, the value of the Naira also begain to depreciate.

Where things went wrong was when Buhari started fixing the price of forex, and the rest is history

Proudlyngwa:
U sure say u get se...se + n

They have been married for 29 years! So, he should just dump her in the streets?

She is also mother to his kids. Children do not like their mothers being unfairly treated. They may also be privy to things we outsiders are unaware of. I dislike golddiggers.

If the marraige lasted for a short time, I can accept she walks away with little. But 29 years, you must be kidding me.

He from his heart should give her something.

$10m would be fair.

That is teh truth.

Nigeria's economy is now stabilising because of it, and the foreign reserves is now over $42bn

Tinubu would be making a big mistake with steel. He should leave it to the free market to decide.

There's a glut of steel in the global market, making it dirt cheap. Nigerian made steel won't be able to compete. Nigerian endusers would be forced to paying a premium for it. This will disadvantage endusers. One should not forget what the ban on cement importation did to the nation.

Reference:
This is exactly what we are saying.
Nigeria should be spending the largest chunk of it's revenues whether income or debt on stabilizing and expanding industrial capacity in order to restore jobs, expand the labour market and bring down inflation.

That is the only meaningful way to raise the tax goose, wean the economy of debt and sustainable fund infrastructure and if done with import substitution in mind can chip away at the trade deficit with solid benefits to the exchange rate.

This government needs to watch with a microscope what it SPENDS MONEY ON. There is just too much waste on unproductive administration and far too many unnecessary projects. Government must reform itself.

Who told you the government isn't working hard to expand the industrial Base? Electricity supply has definitely improved, and things would be better once all electricity subsidies are removed.

The only way CBN can quickly bring down inflation is to increase the interest rates high enough to bring it down. The CBN has refused to go down that route as the president is worried it may tilt the economy into a recession.

What do you mean chip away at the trade deficit? Nigeria has a massive trade surplus, probably the highest in the last ten years. A weak currency naturally discourages imports as it makes it costlier to purchase. In reverse, it makes locally made goods more competitive, encouraging demand for it, both locally and external. Non-oil exports are growing very fast.

The strong Naira you want will simply encourage imports. This is counterproductive. Allow the currency to depreciate, to naturally correct things. Nigerians hate depreciation or devaluation because it makes life harder for them.

Import bans or buy made in Nigerian goods has never improved the Nairas value. Any time the currency depreciates, it was usually due to a drop in the price of crude oil prices. Since crude oil accounted for more than 70% of exports, this reduced dollar inflows, and thus it's depreciation. Buy made in Nigeria has never prevented the Naira fron depreciation.

This government is still practising the amateurish industrialization policy of "Buy locally made good."

This is lamentable.

In addition, the coming prosperity won't materialise in the next two years. If the government wants to hasten things, company tax needs to be slashed to no more than 15%. Manufacturing Association of Nigeria requested it be dropped to 20%.

The lower the company tax rate, the more likelier it would bring in massive foreign and local investments.

Foreign investments will push economic growth to high levels.

Anyone expecting Hamas to become saints overnight is simply not realistic.

Change takes time.

In Northern Ireland, after the Good Friday agreement which ushered in peace in the country, something worrisome began to happen.

Drug dealers had their knee caps shot. This always led to their leg being amputated. This was cruel. The message was clear: don't sell drugs.

It will take time for things to simmer down

These were mostly carried out by former member of two rival militant groups. They obviously still had a thirst for violence.

d he be paying his Nigerian engineers at his refinery 400k? That's why they wanted to join Pengassan.

I just hope it isn't true. From my finding, it seems so.

There is also a Muslim genocide which is greater than that of the Christians.

It is the same people killing Muslims that killing Christians. Who will alert the world?

Sammy101111:
It above 70k even more than that na me know how much share I buy

Hold on to it. It may be wortn up to a million in 5 or 10 years.

Holding on to stocks longterm is where the money is. That's how some became mega-rich.

Fior the best outcomes, reinvest the dividends as well.

Lukuluku69:
Before you go off typing as if you swallowed a Typewriter, are you saying that the disparities in the exchange rates during President Buhari tenure was the sole reason that Nigeria economy was in shambles?

Lol

Mr. Typewriter that can defend himself of whatever he writes, a simple Google search or the Fabled AI you always run to will tell you that, the disparities has always been with Nigeria. From Babagida, Abacha, Shonekan, OBJ, GEJ, Yar'dua to Buhari there have always been disparities but it is Buhari that messed it up?

Continue.

Lol

I give up. I surrender!

Lukuluku69:
Baba, are you currently writing a Term Paper or a Thesis? The way you are forming and blowing grammar just makes me laugh..

So, if disparities in Exchange Rates for FX can SOLELY RUIN an Economy, it is only President Buhari that should carry that cross solely? Lol

You are a joke.

Please ease up on the mention.

Cheers 🍻

Yes. Buhari and his enabler, Emefiele destroyed the destroyed the economy. Emefiele knew Buhari's forex controls do not work, but still did his bidding.

I am glad I could defend myself with facts. You can't even defend yourself. You're the joke. It is like a student who can't defend his project but is laughing at the student who can. It is like a blind man who is determined to direct someoenwho can see.

Go and pick up The Economist magazine and not Mills and Boons.

You're like Oshiomole who frustrated OBJ's efforts to remove subsidy, but upon becoming governor, he realised that the policy cost lots of money and was depriving state governments lots of revenue.

Lukuluku69:
Feel free to believe whatever opinion/s you have of them.

I hate the Institution? Are you psychic?

Step back and read others opinions and takes about an institution set up by imperialists to continue the exploitation of the developing Nations.

Learn from who? People who have no knowledge of economic. Round pegs in square holes.

Sanusi, Soludo, and Okonji-Iweala have all praised the reforms of Tinubu. Their opinion are matters, and not that of an engineer. Or do you think an economist can do the work of an engineer? It would be a disaster.

Lukuluku69:
Lol

So, all our economic woes is predicated solely on the disparities between the Official Rates and Parallel Market?

Lol again.

Cheers.

Yes, It can solely RUIN an economy . That was the primary reason the economy collapsed under Buhari

I can always back whatever I write.

Google this using their AI: "did buhari's foreign exchange policies destroy the nigerian economy"

Lukuluku69:
Stop throwing such words around man. (@ the bolded)

If you don't know their modus operandi, I am telling you now. They bandied Data/Statistics around after which they subtlety ask you to fund it.

You have the options to take it or reject it and more often than not, the emerging markets take.

You're completely wrong.

Show me proof!

The problem is that you hate the instituition and you're simply giving it a bad name in order to hang it.

You prefer to hang on to a conspiracy theory that suits you absurd conclusion.

Lukuluku69:
Baba that's besides the point.

What was it when GEJ ruled? Was the Parallel Market and the Official rates any equal?

The point I am making his this: IMF peddle loans around.

I know what I am saying.

I can detail their involvement with us since Babagida SAP escapades

Imagine a man sees his friends daughter going out at night in a miniskirts with lots of lipstick. He informs his friend and that friend replied that she is going for night vigil, that she is a prayer warrior in her Church, what would you think? You can interpret what is going on.

Learn to interpret economic issues. You can't interpret economic information. The issue on ground was the difference between official and parralel market rates. Lamido Sanusi said it must never be more than 3%. The World Bank says 5% is still acceptable. Anything above that figure would encourage corruption and distortions in the economy.

The difference by December 2015 was over 40%. Buhari's exchange rate policies were destroying the economy.

Please, show me where IMF peddles loans.

https://thewillnews.com/lamido-sanusi-laments-buharis-economic-policies/

Lukuluku69:
grandstar

See their Projections/Data and Statistics I was talking about?

This are what they use to peddle/hawk Loans to the so-called emerging markets.

In a little while now, they will tell you that you need yjis and that funding and boom!

Loans.

This is the problem with people like you: you refuse to learn.

Where was the IMF peddling loans here? Zero. The IMF serves as a watchdog.

Please find me one place in the article that they urged the country to borrow money?

Is a 2% or 4% economic growth good for an economy? What should be the desired economic growth rate for Nigeria?

Lukuluku69:
IMF came to Nigeria in January 2016.

Buhari entered May 2015.

Are you saying Buhari messed the Economy up in just a little over Six months?

IMF knew of the mess we were in, Okonjo said they were borrowing to pay salary.

So, they came as usual offering their usual Toxic Loans but Buhari never like or trust them, reason why he went the China way.

Buhari entered in May 2015. The official exchange rate then was $1- N199 while the parralel exchange rate was N216 or so.

By December, the offiicial exchange rate was 199 but the parrallel exchange rate was N280. Things was already falling apart due to Buhari's bad policies. Nigerian economists such as Charles Soludo and Lamido Sanusi had by June 2015 had already warned Buhari that he should change his economic policies, that they would destroy the economy.

Check out the post below:

https://thewillnews.com/lamido-sanusi-laments-buharis-economic-policies/

Lukuluku69:
They do sir. They actively go around peddling Loans. Let me take you back memory lane.

When President Muhammadu Buhari newly resumed Office, the IMF Head came to Nigeria within 2 weeks of his Tenure.

She came to hawk Loans knowing fully well the financial mess we were in. Remember, the Co-ordinating Minsiter for Finance said they were borrowing to pay salary.

Buhari never liked IMF, so he turned to China.

The IMF did not come to hawk loans. Buhari's economic policies were destroying the economy and they were pleading for him to change course.

Tinubu is now the one forced to clean up the mess that Buhari left behind. That is why the Naira is now $1-N1,500.

The only time the IMF extended any loan to Nigeria was during the pandemic lockdown. That was because during the lockdown, no money was coming in.

Lukuluku69:
Of course they don't put a physical knife on anyone's neck. All they do is to cook up Data and falsify statistics, paint a gloomy picture and funny enough the so called emerging markets fall for it and they take the Loans.

This is an extremely ignorant statement.

How can the IMF present false data to well educated technocrats in central banks, and they will jump at it?

The IMF are lenders of last resort. It is wnen no country or financial instituition will lend you money is when they turn to the IMF.

It's economy is in tatters.

Why is their economy in tatters?

Let me ask, if a 15 year old girl becomes pregnant, who or what are the usual suspects? You will say she has a boyfriend, sneaks out at night, keepimg bad company, bad supervision by her parents etc.

Likewise, when an economy is in tatters, what are the usual suspects? Bloated civil service, state owned enterprises which should be bringing in money, but instead government is giving it money, consumer subsidies, too much red tape etc.

The IMF will say it will lend you money only on the condition you will return to solvency, so we can get our money back.

Your bloated civil service that consumes 2 trn a year, you can cut half the workforce, and it would still function. You sack half the workforce and save 1tr. This refineries and Ajaokuta that cost us 1 trillion a year to run, we will privatize, saving us another 1 tr. The petrol subsidy that is consuming 8 trillion a year, end it. You save another 8 trillion. Before long, the federal government saves 10- trillion

Then your exchange rate. Youir exchange rate makes no sense. How can the official rate be $1- 400 and your parralel market be N1,000. The difference must not be more than 5%. You have to float your exchange rate to find its true value. Your now find the true exchange.

If these policies are implemented, yes painful, but the economy will be on the path to recovery.

Lukuluku69:
Funny IMF, when you will be the ones hawking meaningless Loans? You hawk Loans with your cooked up data and statistics.

Lol

The IMF does not actively go about begging dovernments to borrow from.

It is usually approached by nations when their economy is in tatters, and no country or banks want to lend them money as they are considered too risky and will be unable to repay loans.

They are lenders of last resort. Countries do not approach the IMF when they have a little wound. It is only when it is a big massive scar, that may soon turn gangrenoius, is when they approach..

asolocoaso:
It has been reported to increase, but that's the part that's hard to believe. Tinubu's administration has credited it to non-oil revenue's.
He has attributed it to remittances from abroad. But as a world citizen. I know that all those living abroad at this moment have high unemployment rates and they are also dealing with inflation, with rents, mortgages,bills,groceries, etc having skyrocketed.
So why is Tinubu's administration lying that these same people are now sending more money to Nigeria ?
It doesn't make sense, they should be sending less, because their disposable income is now less.Our GDP number is falsified

Remittances isn't revenue, unless part of it was taxed.

Tinubu never attributed increased government revenue to remittances.

malali:

Using just common sense
1-Our revenue has depleted, Oil revenue is meager as oil prices have been dropping ever since.
2-Oil subsidy is counteracted by increased allocation to state governors
3-He is borrowing more money because,he is using debt to pay debt. AKA Ponzi scheme.
4-What he is running currently cannot be sustained for long. Watch and see. You painted a good picture, but have you asked yourself,if all that was the case,why is he borrowing more than Buhari did ?

Please search this using Google AI:- Has the Nigerian government revenue increased despite the slump in crude oil prices this year?

whytediamond:
Nigerian government no go ever listen. Even the lender is tired.

Why would you ignore industrialization and local production and rather prioritise importation which is the main challenge we are having?

A country with over 150million youths still goes about ass-licking, looking for loans with heavy interests.

Omor, dem swear for this country ni abi na juju?.

Some fools will come and tell me even USA and China still borrow.

Una daddy abeg.

Who told you he is ignoring industrialization, and prioritising importation?

A weak currency does not encourage importation. It does the opposite by making imports more expensive and less affordable, and making local products cheaper and more affordable.

The weak Naire has led to a huge current account surplus.

Non-oil exports are rising fast. Local production is rising

See below:

https://www.ceicdata.com/en/indicator/nigeria/current-account-balance

malali:
She’s likely referring to Asiwaju Bola Ahmed Tinubu.

Falsifying GDP figures to meet IMF debt-to-GDP requirements for continued borrowing has serious consequences. When this house of cards,or Ponzi scheme, eventually collapses, it will trigger massive inflation, currency crashes, and devaluation.

The IMF is issuing warnings now because they can see the government’s manipulations and understand the economic fallout if these numbers continue to be misrepresented. They’re signaling what the future could look like if these games persist.

The government has actually been quite prudent by eliminating fuel subsidies which were gulping about 2% of GDP. By floating the Naira, this magnified government revenue. Imagine at $1-N440, a monthly allocation of $1bn is N440M, but at N1,500, It is N1.5Tr. UIn addition, government has also worked hard at improving revenue collection.

The debt is more sustainable than before.

The truth is that government borrowing will still be quite high as 97% of government revenue was going towards debt servicing when he assumed office. It is now below 50%, but it needs to get down to 20% or less.

Some of the present borrowing I must admit is questionable.

I am certain some militants like Tompolo and that Muslim militant (I have forgotten his name) might have pleaded for his release.

This is the truth: anyone who is duped by purchasing this phone is at fault

You might ask why? If 100m enter their bank account, they will head to Slot or even the Apple store at Shoprite Ikeja to buy the original.