₦airaland Forum

CapitalBank:
Bros, you spoke well but I can tell you that even with all you wrote you will still experience problems. i don't experience sales draught though.A month doesn't go buy without selling domains BUT things are a bit slow these period. In 2022 I was selling nothing less than 1-3 domain names per week, not per month... but it is no longer that way.

The last domain names I sold this month we via Inbound, and I would attribute my ability to go a month without selling a domain to experience and how I pick domains.

Things have changed over the years, and even domainers who have made much bigger sales are complaining. Now, add to the way GoDaddy brokers handle domain brokerage, and you will see there is a problem.

See attached image.

The US economy is going into a recession.

Trump's protectionist policies and mass deportation has led to a recession.

A recession means demand would fall. Worse, since the US is the world's largest economy, a recession there would adversely affect the world's economy.

Economists have already foreseen a huge drop in GDP, way before he assumed office, based on his economically illiterate policies

That doesn't mean you should be daunted. Turn pepper to peppersoup. At times, a recession exists only when you believe it

aribisala0:
Wembley cost in excess of $1.5 billion

That's a developed country. Land costs alone is high. Labour should also be factored in.

A white elephant project.

This is not what the country needs right now

I'm sure a stadium of $30m would have been fine

Pacesetter123:
So the present government is not borrowing, right?
Then how does their own borrowing benefits the poor masses like Buhari's own?
You people will just open mouth waaah to talk trash!

First and foremost, Buhari turned to borrowing because he wasn't ready to make tough fiscal decisions.

In 2015 when he assumed office, the price of oil was declining rapidly. It had fallen from $100 around July to $50 per barrel. It even went as low as low as $35. Jonathan had not paid much attention to the state of the economy in his last hours due to the elections.

Since oil provided about 90% of government revenue, this would be a massive blow. That means government revenue would decline by about 60%.

What should Buhari have done to cut cost:

1. He should have removed the fuel subsidy
2. Slash the size of the civil service.
3. Privatized government owned companies
And much more.

What did he do instead, he pegged the Naira stating he does not believe in devaluation. With lesser dollar inflow, your currency would naturally depreciate. It isn't rocket science. He thought that economists determine exchange rates. It is actually market forces.

He refused to cut spending despite collapsing

Anyways, I'm transgressing.

Though I am not a big fan of Tinubu borrowing, but one should see why.

First, 68% of government revenue is still going towards debt servicing. Anything more than 20% is discouraged by economists. At 40%, it is getting chronic. So, 68% is still quite high. There is no way government can avoid borrowing with 68% of revenue still going towards debt servicing.

Next, the borrowing this time is anchored on debt sustainability. The government is working towards improving tax collection by 3% of GDP, which may raise an extra 15trillion or $10bn a year by 2027. Since the government is borrowing $24bn, this is sustainable. Assuming debt servicing is at 10% per annum, that is only $2.4bn a year. There is still an extra $7.6bn left.

How will the borrowing benefit the poor? It is to early for me to say. Tinubu said it is to build capacity.

To build capacity here, means to build capacity to grow, capacity to absorb years of economic growth.

Some economies find it difficult to grow because they do not have enough power supply, good roads, ports and so on. Even if they may be sufficient today, it may not be sufficient in 5 years time.

For instance, the government wants to purchase 7m NEPA metres. The next phase of PHCN would involve switching everyone to Band A. The government wants to invest into power supply infrastructure to ensure there is enough electricity to power the economy. He can't attempt that now as he would certainly lose the election.

He might also invest heavily in roads rehabilitation. He has always believed in infrastructural spending especially on roads. Successful road projects may also assist him win the coming 2027 elections.

AMINDA:
Same way revisionist SWesterners claimed Buhari never supported Tinubu. You also said Tinubu made himself President despite 5.6m northern votes. You claimed Elrufai worked against Tinubu because he only managed to get 399K votes for Tinubu against a Northern Atiku who polled 499k and a Northern Kwankwaso. Tinubu himself obviously believes so because no single Buhari ally from the CPC bloc are in his government. Tinubu might have to really prove that he can do it alone without Northern support in 2027 as claimed.

Did Buhari support Tinubu? I really want to know.

Imagine this man embellishing nonsense.

So many companies shut down in the first two years of Buhari that unemployment jumped from 8 5% to over 30%

Before Tinubu took over, Emirates and some multinationals had pulled out of Nigeria due to the chronic scarcity of forex. What is the point of an rate of N500 when you have no dollars to supply?

There was only $3bn in the net foreign reserves while owing buyers of fx, $7bn.

We are dying from the excessive borrowing he had to take for us to "enjoy" the fuel subsidy.

The government was even borrowing money through ways and means from the government. This is basically asking the central bank to print you money to lend to you.0

When Tinubu assumed office, 97% of government revenue was going towards servicing debt. With the fuel subsidy removal and the floating of the Naira, it's down to 68%.

Buhari's economic illiteracy was legendary. He wanted to be popular.

Kukutente23:
What tip

Your prime grouse against Tinubu rests on the insane import duty placed on cars. It was Olusegun Aganga that launched a program for car manufacturing in Nigeria. In order to achieve that goal, high import duties were placed on cars to discourage car importation.

The scheme went into effect during Buharis government.

Well, you guys can get the import duty reduced. You tokunbo car dealers provide livelihood to over a million Nogerians. You therefore have clout.

You people should protest the high import duties and complain it's killing your business. Your association should take out adverts in newspapers demanding for a reduction. A reduction would also lead to a reduction in car prices which would be very popular. Light protests in the streets, broadcast on TV and online would further send the message home

Trust me, the import duty on cars will be reduced. You can promise the president your votes. The duty will be reduces, but probably not down to the 20% it was before Buhari. I suspect it would be halved from its present outrageous amount.

Next year, the NLC may cash in on the coming election in 2027 to demand a higher minimum wage. You car dealers can do the same, by demanding a reduction in import duties. The present finance minister will support it.

There are just too many products banned or high duties placed on them, and it's killing many industries. Already, the government has reduced the import duty on industrial starch, and end users are overjoyed.

Kukutente23:
How does this prove that the creation story in the Bible is false

The Bible never said the earth was created in 7 24hr days.

A day to God is like a thousand years, a d a thousands years to God is like a day. It is creationist that brought about the wrong notion of 24 hour days.

It probably took hundreds of years to create the earth or even thousands.

Did the dinosaur exist? They certainly did. They are part of God's creation! The era which they lived is gone. There are still frozen mammoths in good condition in Siberia if I'm correct. Humans with the latest DNA technology can bring these animals back. It's already been done for an extinct wolf specie.

SeeWahala:
I pray he find befitting work. The current 4.5 and above still dey take 'charge and bail' dey see front

Dog eat dog is better than dog eat nothing.

Life has taught me to be thankful.

Kukutente23:
You guys should stop telling yourselves all these lies

What lies? The facts are there.

Are you a car dealer? If so, I have a tip to share with you.

socialmediaman:
Tell me, was this not the same things you told Nigerians for 8 years while Buhari was President? You told Nigerians he was taking time to clean PDP mess, slow and steady, and he will use the second term to achieve more? Who campaigned for Buhari again and convinced Nigerians to vote for second term? Wasn’t it Tinubu?

Now suddenly you’re going to wipe all that away and start listing Buhari’s problems as if you weren’t campaigning for 8 years that he was doing a good job? And now you’re saying the exact same things about patience with Tinubu?

The next thing is. Show me one developed country in the world where leaders who failed are rewarded with another term in office? Just one developed country is all I need. It’s always countries like Africa that a leader will be failing and the citizens are being told “let’s have patience and let him continue because the other candidates may be worse”. How has that worked out for us?

First of all, I am apolitical.

Where did I ever praise Buhari during those 8 years. I despised his economic policies, especially his meddling in the exchange rate.

I have always been a strong supporter of market determined exchange rates, the type that existed before Buharis interference. I have always been in complete support of the removal of fuel subsidies, as far back as the 90s.

Who rewarded Buhari a second term? Primarily the North, and some parts of the Southeest who were impressed by his infrastructural projects. Nigerians "rewarded" him with a second term, and no one else. It was through the ballot box. Had Nigerian voters been well educated, he would have lost. Obi would have done better in the last election. A lot of votes came from woke voters from all tribes in the South, and not just Igbos.

The response I gave was educative and constructive. You may not like the fact that 1 + 1=2 but it doesn't change the correct answer. I have a good grasp of economics. It will take time for things to get better. That's what economic policies and indicators show. This time, one really needs patience.

The question you should ask is what can government do to speed up economic growth, and make lives better for the people.

If you want to know, I'll tell you.

socialmediaman:
This government emptied Nigeria's reserve even after floating the naira and removing subsidy. Still there's extreme hardship and insecurity.

The problem he inherited from Buhari was huge. 97% of government revenue was used to service debt. Economist frown at any figure beyond 20%.

There was only $3bn in net foreign reserves. Worse, the CBN was owing purchasers of forex $7bn. Ther scarcity of forex was so severe that multinationals were leaving the country.

With the removal of the fuel subsidy, and floating of the Naira, debt servicing now takes up 68% of government revenue.

However, more reforms are still needed.

It will take time for things to improve, to reach the masses. For instance, it took Thailand 5 years to get its GDP in 1996 level after its economy crashed.

Emefiele definitely played a massive part in the ruin of the Nigerian economy.

The two of the pillars used to destroy the Nigeria which were Buharis initiated forex controls and excesses spending could have been curbed by the CBN.

He could easily have refused to yield to Buhari's economic illiterate advice not to devalue the currency despite a massive drop in dollar inflows. His refusal to stop the madness led to chronic forex scarcity that led to at least 2 recessions.

The second was excessive borrowing and printing of money by the CBN to lend to the federal gocernment. This fueled inflation and the further plunging of the Nairas value.

Emefiele could have refused to yield to Buharis demand for a rigid exchange that made no sense. The CBN has autonomy and it was to prevent such unprofessional meddling by politicians.

Likewise, the CBN acts prevents excessive lending of money through ways and means. He could have limited the amount lent. This would have compelled Bubari to be far more disciplined with expenditure.

He refused to be prudent, choosing instead populist policies that made him popular with the people but were financed through heavy borrowing

Despite lower oil prices, he did not sack a civil servant to cut costs, neither did he end the fuel subsidy.

Buhari was a well meaning person but was incompetent.

It's obvious where Burna got his bad boy vibes from.

His dad looks gangster!

I'm stunned he has a second wife!

Whats more shocking is that Mama Peace hasn't chased her out! 🤣🤣🤣🤣🥰

Bubu is gone. Many here wish he went much earlier, like in his first term.

He rests in peace. (Read Ecclesiastes 9:5,10)

dahmie2013:
Sai Baba. 💔😇...Thank you for restoring discipline in public finance and enforcing TSA, IPPIS, and fighting ghost workers.

Thank you for the 2nd Niger Bridge. A dream many promised but you delivered.

Thank you for the Lagos-Ibadan Expressway. A lifeline of commerce finally reborn.

Thank you for the Abuja-Kaduna-Kano highway.

Thank you for the Lagos-Ibadan Standard Gauge Railway.

Thank you the Mobolaji Johnson Train Station, and other train station, connecting cities and dreams again.

Thank you for completing over 17,000km of roads and for bringing back railway transport after decades of decay.

Thank you for the AKK Gas Pipeline project.

Thank you for the Port Harcourt-Maiduguri Railway revival.

Thank you for Itakpe-Warri rail and stations abandoned for 30+ years, now reborn.

Thank you for the Presidential Fertilizer Initiative and for reviving Ajaokuta Steel’s hopes.

Thank you for the deep-sea ports: Lekki and Bonny, Nigeria is now open to the world.

Thank you for National Social Investment Programmes – N-Power, TraderMoni, School Feeding.

Thank you for taking bold steps in security, even when the battle was bigger than bullets.

Thank you for Daura roots, for reminding us that leadership comes with quiet tenacity.

Thank you, Mr. President.

You weren't perfect, but you did your best.

Rest on, GMB.

You served.

History will remember.

A Forthright Man... Sai Baba. 💔💔😇😇

Daniel Adeniyi
#thedanieladeniyi

For the records, here are Major Projects & Achievements of President Muhammadu Buhari (2015–2023)

🏗 INFRASTRUCTURE:

2nd Niger Bridge (Onitsha–Asaba) – completed.

Lagos–Ibadan Expressway – nearly completed.

Abuja–Kaduna–Zaria–Kano Road – reconstruction ongoing.

Itakpe–Warri Railway – completed after 30+ years.

Lagos–Ibadan Railway (standard gauge) – completed.

Abuja Metro Line – operational.

New train stations: Mobolaji Johnson (Ebute-Metta), Chief Obafemi Awolowo Station (Ibadan), and others.

Eastern Railway Line (Port Harcourt–Maiduguri) – work initiated.

Over 17,000km of roads constructed or rehabilitated.

🛢 ENERGY & GAS:

Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline – launched.

Siemens Presidential Power Initiative (PPI) – to improve electricity transmission.

Zungeru Hydroelectric Power Plant – completed.

⚓ PORTS & MARITIME:

Lekki Deep Sea Port – completed and operational.

Bonny Deep Sea Port – groundbreaking completed.

Onitsha Inland Port – rehabilitated.

🚜 AGRICULTURE:

Presidential Fertilizer Initiative – 35+ blending plants revived.

Anchor Borrowers Programme – millions of farmers empowered.

National Livestock Transformation Plan.

💰 ECONOMY & FINANCE:

Treasury Single Account (TSA) fully enforced.

Integrated Payroll and Personnel Information System (IPPIS) for FG workers.

National Social Investment Programmes:

N-Power

TraderMoni

Conditional Cash Transfer

National Home-Grown School Feeding Programme

🛡 SECURITY & DEFENSE:

Purchased Tucano jets and military hardware.

Operation Lafiya Dole (against Boko Haram).

Reorganized Nigerian military commands.

🏫 EDUCATION & SOCIAL:

Takeoff grants for new universities (e.g., FUTA, FUTMinna, and new Army/Navy universities).

Released backlog of teachers' promotion arrears.

Expanded youth and empowerment schemes.

#Copied

He also ruined the economy. Banditry and the herdsmen killings went through the roof.

Obasanjo outlived Bubu.

He might also outlive Babangida. He looks quite fit.

Despite that, OBJ must feel death lurking somewhere.

highchief1:
my brother I never liked him too o until tinubu came.Now I love him

You guys are funny. Many of you have a very poor understanding of economics.

Buhari destroyed the economy. 97% of government revenue in 2023 would go towards debt servicing. Buhari had overborrowed. The type he engaged in was the worst- Ways and Means in which rhe central bank prints money and lends it to the government. It is very inflationary

In addition, the CBN had only $3bn as net foreign reserves, and was owing buyers of foreign exchange $7bn. There was severe dollar shortage and mtinatuonals were leaving the country. Emirates Airlines were fed up. Net foreign reserves refers to thecactual amount the central bank actually has access to.

A country is supposed to have a minimum of 4months worth of foreign exchange. At $3bn, it was barely 1 month. It also owed buyers $7bn.

To fix things, the fuel subsidy had to go. That would stop the borrowing of money to fund it.

For the forex scarcity, the CBN floated the Naira so it can reflect its market value. During Buharis era, his forex policies led to the forex scarcity. He wanted a strong Naira, and did not believe in a flexible exchange rate.

Has Tinubu's policies shown any results? Yes, the amount needed for servicing debt has gone down from 97% of revenue, to 68%.

The net foreign reserves has risen $3bn to $30bn. So, the reforms are working. Nigerias credit rating has been upgraded by Moody.

The World Bank recommends that debt servicing should not take up more than 20% of revenue.

There is still a long way away. More reforms would be necessary such as slashing down the size of the civil service, and ending electricity subsidies. The government also wants to improve revenue collection by 3% of GDP

With the above, spending on debt servicing won't be more than 20%.

The second phase of reforms would be implemented in Tinubu second term. If he tries it now, he would be unelectable come 2027

Buhari was pennywise, pound foolish.

You refused to waste 400m on new cars, but wasted trillions on the fuel subsidy, that he should have removed like Tinubu did.

He refused an increase his food allowance,yet, approved NNPC borrowing billions of dollars to refurbish the antiquated refineries, rather than dispose them as they are.

In areas where he needed to be weak, he was very strong.

And in areas where he was to be very strong, he was very weak.

Savenigeria2023:
With the futility that comes with this life, not sure why Nigerian leaders act lie they will live forever

He did not leave very good memories. He wrecked lives

And he eventually still died in London.... he could not fix a single hosptal capable of handling him as president

He was well meaning. If lives were wrecked, they were not intentional.

He thought his economic policies were good, but they turned out otherwise.

For instance, if you don't support a flexible exchange rate. one determined by market forces, then you support his policies.

The poor soul! Well meaning but a disaster.

He is resting in peace (Read Ecclesiastes 9:5,10)

This is a goldmine. I might not mind applying.

Starting afresh go hard small.

There is nothing in Belarus unless they want to go fight in Russia as cannon fodder

There's only one messiah and that is Jesus.

We should never place our salvation on anyone else (Read Psalms 146:3-5)

We live in the Last Days. Just taking a

The beauty of this increase is that this is in real terms.

Let's assume the exchange rate was $1-N1,600 at the beginning of the year.

So, 1m invested then was $6,25

Now, the stock is 2m. That N2m is $1,250 as the Naira's value is still the same.

These are fantastic returns considering the mess that Trumpo is doing to the US economy, and the huge mess Tinubu met.