₦airaland Forum

Racoon:
Meanwhile, the most cherished well read region is the same one that has sadly given the nation the most criminally minded band of humanity ever seen.

From the Oluwole certificate forgers, skull miners, drug runners, clergies/traditional rulers being convicted for criminality and not strange, the largest swathes of anti-social elements ever seen a region of a country in history. So sad! Too bad!

This is quite funny. Lagos probably has more Igbos than any city in the Southeast. More Hausas than Sokoto.

Yoruba's are welcoming. There has never been a pogrom of minorities except with skirmishes with the Hausas. Your own people have thrived in Lagos state, and all Yoruba States they have sojourned. There is no need for all this bitterness.

At the end of the day, we are all equal before God.

Though I am proud of my tribe Yoruba, we should understand that this was written over 100 years ago.

Heck, the ancestors of this article were living in caves when the Romans got to Britain around 50 B.C.E

Even the Gauls (ancestors of the French, and the Goths, ancestors of the Germans were quite primitive compared to the Romans and Greeks.

Now, the Gucci shoe is on the other foot. The British, German, and French economies based on per capita income alone are higher than that of Italy and Greece.

We are all equal before God, all EQUAL!

No tribe or race is higher than the other.

kayperry:
Even after the subsidy is long gone You guyz wont demonizing " fuel subsidy" ... its only in Nigeria govt will paint " subsidy " evil

We have so many things govt is wasting our funds on, like continous splash of money on dead refineries in the last 20yrs we have wasted so much billions on the refinery that One no dey pain govt, politicians dont demonize those refineries maintainance waste

School feeding project since implementation as being nothing buh waste of limited funds

Senate allowance, this are excessive burdens ... they won't demonize it

Subsidy that goes to the people and make cost of living bearable is the Master piece of why Nigeria is not developed
we waste money on hajj, piligrims, and govt entourage dem no see that one ... now that subsidy is gone why is Tpain collecting more loans even than those that paid subsidy ... most painful part no tangible achievement, go n meet ur governors

The fuel subsidies consumes as much as 2% of GDP. That is extremely high. All the other sources of waste you scream about altogether to not amount to 0.5% of GDP.

Secondly, it was improverishing you. If there was never petrol subsidies, the Naira would probably hover around $1-N600. Buhari resorted to the printing of the Naira to subsidise petrol which is not only inflationary, but always leads to a massive depreciation of such a currency. That was one major reason why the Naira dropped from$1-N200 when he assumed office to $1-N1,500 today.

FarahAideed:
When we warned about Tinubu devaluing the Naira , this is what we mean ,his policies have devalued the Naira so much state govts might not be able to construct more than 12kms at a go

On the contrary, State governments are now awash with a lot of cash. The Naira devaluation increased their naira revenue from crude oil.

So, lets say, the FG is to share $1bn to the 4 tiers of government, at $1- N440 in mid June 2023, that would be N440Bn

Today that same $1bn will be N1.5Trn.

In additon,the removal of the petrol subsidies also enriched States.

Let's assume the country was to spend N8trn on subsidies, half of that would be from State and local governments revenue which is 4trn.

That 4trn would now be given to them as revenue.

So, the economic reforms has been a boon for the States and local governments and that's why many State governors are supporting him.

Righteousness2:
According to OP




Born in JORDAN! If you check, his Parents are Jordanians. That is his country .

Let that sink in.

Pally state is a scam. There has never anything like that.

If Palestine never existed, neither did ancient Israel, the Samaritans or even the Canaanites.

The Romans after the sacking of Jerusalem (the killer of the prophets and the stoner of those sent to her: Read Matthew 23:37-39), and the eventual exile of all Jews from Israel occured by mid 100 AD.

The vacuum from their exile was filled by new settlers. Don't forget that when Jews were taken captive to Assyria and Babylon, new inhabitants were placed there who eventually became the Samaritans. By the way, they exist till this day,.

Israel will soon bombb him.

Just kidding.

Anyway, don't just travel to Gaza.

nwirinedu:
If you support 80 percent of the atrocious policies there should be no buts in your remarks.

If you don't support what he said, it is due to your poor grasp of economics and nothing else.

When OBJ tried several times to rid the country of fuel subsidies, the then NLC leader, Oshiomole, did all he could to frustrate him.

However, when he became governor, he now realized why government wanted to end the subsidies. He did not know it cost the federal government and the States lots of money, about 2% of GDP a year. He regretted his past actions.

Many of you are like Oshiomole.

Persons with a strong grasps of economic will give kudos to the president for these reforms.

Yes, there is a strong need to control spending, and this is in the area of many worrisome infrastructure projects such as a national network of high speed trains that would cost $60bn. Servicing the debt alone may consume as much as 1% of GDP yearly.

Tinubu will not dare touch the cicil service now as that will kill his re-election dream completely. Sanusi is a technocrat and he has formerly said he can never be a politician as "he can not say what people want to hear."

I do fully support the importation of food. The government should instead focus on commodities that the country has competitive and comparative advantage in. Nigeria will export agricultural products such as cashew, sesame, sheabutter, cocoa,,sorghum and a host of produce while we import rice, wheat and so on that we suck at producing competitively.

WizardOfNG:
You can see why from his post below confirming my former response to you that his rage is not normal and not of a sincere Nigeria who cares about progress for Nigeria and Nigerians.

His tirade below, on another thread, puts things in perspective per his motivation.

https://www.nairaland.com/8534784/why-sudden-sympathy

He is the one who is actually prejudiced. The hypocrisy. He is projecting himself upon others.

These are the ones that make mention "Yoruba Muslims," as though Yorubas can be divided by religion. They beleive all Yoruba Muslims voted for Tinubu because he is a Muslim.

If he had any brain, he would see that many Yoruba's are very bitter with Tinubu. It is so abundantly clear here on NL the distate many of Yorubas have for the president. They don't want to believe a Yoruba man would criticize the president.

Peter Obi, who they worship, was not even endorsed by Charles Soludo, which speaks volumes. PO talks too much.



I am actually apolitical, but the my love of economics draws me out a bit.

nwirinedu:
Her sins have been forgiven, she is white as snow, just like a bandit that slaughtered thousands that suddenly became a pastor he is holy.

Christianity is such a lucrative religion no wonder other faith envy it.

It is a shame that what people call Christianity is actually a sham and a scam. This isn't Christianity, but Westernization and secularism. This is far from what the Christ taught.

One just has to look at first century Christianity looked like.

They were persecuted like Jesus foretold, they kept away from world politics, they were known for being different, and there was only one Christian congregation or Church if you prefer. All these divisions did not exist.

Jesus Christ foretolf that false Christs and false prophets would arise and lead many astray. (Read Matthews 24:24) . Apostle Paul foretold that people would no longer pay attention to healthy teachings, but rather, they would accumulate teachers for themselves to have their ears tickled. Yes. They would surround themselves with so called men of God who will preach only what they want to hear (Read 2 Timothy 4:1-5). Prosperity preaching isn't scriptural.

There are false teachers everywhere preaching doctrines inspired by demons (Read 1 Timothy 4:1-3). They also perform miracles from an evil source for the benefit of those who are perishing, those thoroughly decieved (Read 2 Thessalonians 2:9-12)

The question you need to ask yourself is "where can I find true Christians today, those who truly follow the doctrines of the Christ to the letter, and not imitation Christians?

Let's start by finding whether all religions lead to God. Please read the article below:

https://www.jw.org/en/bible-teachings/questions/are-all-religions-the-same/

zero8zero:
With phone and free data bonus, any ignorant person can sit in his/her room and type trash on the internet. I hope foreigners who frequent this forum won't think this is how low we all think in this country.

I was shocked at his rage.

I that I live in Band E catchment area should be the one complaining the most, but I must agree, power supply has improved!

They are adding 7,000MW to the transmission capacity. What they are adding is even higher than what is presently on ground.

Power supply would probably have improved much higher but the cost of the subsidies is a big problem.

I am certain Tinubu will get rid of them if he wins a second term.

Ruke1991:
Rotten country. This minister of power seems to be an accomplice with the power companies that are now fleecing Nigeria dry with this electricity subsidy scam sort of. Both citizens and the country now pay for what they don't receive. Politicians keep spending millions of dollars to buy metres every year but those meters never reaches electricity consumers. Multifaceted crime perpetuated against the Nigerian people by the electricity companies and the ministry of power led by the minister of power. If Nigeria was china, this man and the last minister appointed by buhari should be in jail right now for corruption. Where is the money wasted on Siemens deal? That deal has been abandoned for a china deal and in years to come Nigeria will pay fines in billions after arbitrage court sittings in Europe for the monkey behaviour of tinubu and the minister of power that abandoned kyaris Siemens deal for an audio china deal in the power distribution sector

"A cynic is someone who knows the price of everything but the value of nothing"- Oscar Wilde

"Phase one is planned to add 7000 MW of operational capacity to the grid,” he said.

The phrase here is music to the ears.

However, I would suggest tariffs for the other bands should be increased, closer to cost reflective prices.

This is to reduce the need for the government to borrow money for electrical subsidies.

This is extremely delusional.

Jesus was clear, "You can not slave for two masters. You will either love ine and hate the other."

Frankly speaking, an immoral life and false Christianity are one. They are both from the same source (Read John 8:44)

SatoshiX:
How many times is this making the news?? Something is cooking against the image of the country

This isn't the same kid. That one was 17 years of age.

It is such a shame.

I feel sorry for his poor parents.

Parents need to caution their children about sharing nudes online. You have no business even taking a nude picture of yourself, not even a topless one of yourself. Nothing, not even your spouse deserves it. It could fall into the wrong hands (Read Proverbs 14:12, Proverbs 27:12)

This shouldn't come as a surprise after Apostle Peter's warming at 2 Peter 2:9-12.

Morbeta11:
No English Word Has A Double ee Except For "Free And Tree" Prove Me Wrong

You also have pee, see, meet, beetroot

When going through immigration at Heathrow airport 5 years ago, I was with my dad and sister.

The immigration officer, a Nigerian with a strong Nigerian accent threatened to deport my invalid dad. The white officer with her wondered what all the fuss was about.

The Nigerian immigration office who was a British national had to outdo her white colleagues, to prove she wasn't soft on those from her motherland.

Kemi Badenoch's wahala isn't as much as she's black. It is that she spent the first 16 years of her life in Nigeria. Even a White Briton who spends their formative years in another country, let's say Germany, would raise eyebrows as to how British they really are, how much more a black woman.

However I see her becoming prime minister some day. The parliamentary system makes that possible.

It might have been better he was released after 2 years.

His poor parents.

kingbee90:
This man and other past governors of Borno need to be questioned as to how Boko Haram grew this BIG in Borno state under their watch.

Accused of what? They do not like Boko Haram.

Why would they be cooperating with these Islamist idiots?

A $2bn stadium should be able to take one to heaven. If not, bust it.

The level of corruption in Nigeria is troubling.

No one believes the Calabar highway should cost that much.

However, I wish someone here who is a quantity surveyor or engineer can provide an indication of the cost.

Why not send remote controlled missiles to finish them off, or drones?

A ragtag army should not overwhelm the army.

emorse:
Blaming exchange rate discrepancies for the need to devalue a currency is quite shallow in my opinion. I mean, where did the black market operators get their FX from? Was it not from leakages in the system? Wouldn't it have been a better approach to plug those leakages instead of throwing out the baby with the bath water?

Devaluation only helps countries with well developed manufacturing and service based sectors. That way, goods and services can be manufactured at cheaper rates thereby encouraging export. China is a case in point.

For an import dependent economy such as ours, devaluation is close to a d**th sentence as cost of doing business (especially manufacturing) rises through the roof. And we haven't even spoken about our infrastructural derth yet o.

By the way, the new tax policy is a nail on the coffin. Taxation discourages production that's why there's something called tax holidays which sensible governments give to manufacturers to encourage production. Growing economies should have no business with taxes. We'll, at least their manufacturing sector.

Are you a qualified economist? What is shallow about what I said. It is tested and it works.

Yours has been tested and it has been proven a colossal failure. That's what Buhari did and it plunged the economy into a sever recession. The forex scarcity was so severe that it led to companies closing down as they could not get fx. The poor economic growth rate during Buhari's termin office was due to the sort of exchange rate policy you endorse. Buhariu hated devaluation and stood his ground.

That was why Tinubu was determined to make the Naira market reflective again. The floating of the Naira has achieved that. From forex scarcity to forex surplus.

There is no economic textbook or journal that will ever state that import dependent countries should not devalue their countries. Please show me a textbook or journal that supports your assertion. It is a common misconception common here on NL.

So, your central bank prints money to cover the budget deficit, and you don't expect your currency to depreciate because it is import dependent? You must have seen pigs fly.

For your info, poor fx management especially ones that refuse to allow their currencies depreciate when things turn south are the nations most likely to turn to the IMF for a bailout. It is when they've burnt through their foreign reserves that they turn to the IMF.

Nigeria needs to raise more money from taxes. The government barely collects revenue equal to 10% of GDP. This is one of the lowest rates in the world.

It is simply not sufficient enough to meet government needs. This poor revenue collection is why salaries for lecturers, doctors remain poor. The money isn't sufficient enough.

Charles Soludo said the minimum level of taxation should be 22% of GDP.

Most Nigerians pay little or no taxes, and this must change. If tax revenue can increase to like 15% of GDP, it would be fantastic.

bizbro:
Share the niche via DM boss 🫡🫡

No way!

You guys better pass me.

bizbro:
I say make I ask, is it handreg?

It was a suffix name like xxxxxwolf or fox or queen

I tested over 100 suffixes, and about 4 reasonable ones were available.

I registered 2. Submitted both to Atom, and one was considered premium instantly, and the other wasn't.

bizbro:
I say make I ask, is it handreg?

Yes it is.

The Bible does not only condemn homosexuality but also all forms of immorality.

If we want to gain God's favor, we must reject these things (Read 1 Corinthians 6:9-11)

Toruibestate:
My father died at 63 years, his elder brother of same father, same mother is 73 years.
The elder brother has been sick for two years and right now the sickness has gotten worse then my father that wasn't sick died on September 5 after two months of illness.



My cousins really tried during my father's death but they told i and my siblings not to tell their father of his only remaining brother's death and since they believe his present mind won't be able to handle it, being on sick bed himself, he may die if he finds out.




But is it right for him not to know?
He will think his brother refuse to come check up on him though he was told of the illness of my father and his reply was let him not die o...
What do you think of all these?



@Ditari of Ijaw.

No need telling your uncle.

He will eventually find out himself.

SmartPolician:
Okay, thank you for your explanation. However, I am intereted in what happened before Year 2000. You see, the IMF and other international lending agencies advised Nigerian leaders to devalue the naira.

Devaluation, in this contest, means reducing the original value of your currency. For instance, one naira exchanged for one dollar at some point when it was new. Those agencies advised Nigerian leaders to devalue naira and they did.

This means that if 10 cubes of Maggi sold for #1, after the devaluation, 10 cubes of Maggi started selling for #10. My point is, why did they agree? I am asking this question because I have watched videos of late Audu Ogbeh accusing those agencies of wrongly advising Nigerian leaders to devalue the naira and they did.

I will be frank with you, I can'r remember the IMF advising Nigeria to devalue its currency in 2000.

But note this, if the IMF advises you to devalue your currency, they must have a reason.

Let me give you an example. Imagine the official exchange rate is $1-N1,500 and the black market rate is $1-N3,000, and the IMF advises the government to devalue its official exchange rate, is it wrong? The government said it does not want people to suffer and refuses to do so. Who is right and who is wrong? Is the IMF wicked?

To know what is right, if your uncle sends you $500, where will you change it? Will you use the official exchange, or go to the black market? Be honest. Or if they say the money was meant for your father, where will you change it if you don't want to be disowned or be called a thief or idot?

The very people who the government does not want to suffer really support i? Would it be wise for the currency to be devalued or not?

Lamido Sanusi said that the difference between the offical rate and black market should not be more than 3%. The World Bank even said 5%. Any differential higher than thise will lead to a lot of corruption and also distortions in the economy. During Buhari's tenure, there was a differential at a time of about 150%. There was too much roundtripping- that is purchasing forex at the official and immediately selling it at the black market rate.

Another way to know if your currency needs to devalue is the rate at which your foriegn reserves is either increasing or reducing.

For instance, if at $1- N200, your foreign reserves is reducing by $500m a week and you have $10bn in your foreign reserves, that means at that rate, your reserves would empty in 20 weeks. What if at $1-N250, the reserves are increasing $100m a week. Which of the two exchange rates should be devalued?

The stronger your exchange rate, the greater the demand, and vice versa. So, if your foreign reserve are depleting fast, would it be prudent to devalue?

These are some reasons why the IMF will advise you to develue. The signs are already there.

For instance, the foreign reserves were depleted by the time Emefiele left office. There was only $3.99bn in the net foreign reserves. This is not the gross foreign reserves. This is the actual forex that the CBN has access to, and not the encumbered one. It was also owing buyers of forex $7bn. Why? They had sold forex below its market value, and there was excessive demand the CBN could not. Thsi led to severe fx scarcity that forced GSK, Shoprite, Emirates to leave the country.

Now, Audu Ogbeh made some allegations. Were they true and factual?

During the Babangida era, the Naira was depreciating fast every year. He was right to a very good extent about that. But was it caused by outside agencies like the World Bank or IMF giving bad advice?

I was either in secondary school or university during the Babangida years. So, why was the Naira depreciating yearly?

It was due to reckless spending by the Babangida government. Under a Structural Adjustment Programme, the country must live within its means. There must either has to be a low budget deficit, or a balanced one, or even a budget surplus.

Due to Babangida's reckless spending, and a resort to Ways and Means to fiance the recklessness, that was why the Naira kept losing value. Ways and Means is when the federal government request the central bank print money and lend to it. This is very inflationary. So, lets say there's N10trillion cash in the economy and there's $10bn, the exchange rate will be $1- N1,000.,Assume the central bank now prints N5 trillion to lend to the government, that makes N15trillion cash in the circulation and it is still $10bn in circulation, the exchange rate is now $1-N1,500. You can now see why Ways and Means is discouraged. Buhari used this excessively, and that's why the Naira fell so badly during his time in office.

During Abacha's tenure, from 1995 to 1998, the exchange rate stayed at around $1-N80. Abacha was fiscally prudent. When Babagida left office, the foreign reserves had only $500m. By the time Abacha died in office, it had increased to $8bn.

The floating of the Naira was perhaps the best thing that ever happened to the economy in decades. This should have been carried out in 1999, and not 2023.

The ending of the fuel subsidy too should have been done as early as 1999.