₦airaland Forum

lebete3000:
Na 10kg Caprice me I wan even buy now sef, but fear dey catch me make I no go buy fake one.

One person dey tell me 15k, another show another type of Caprice going for 21k.

Me I just confuse.

cardoctor:
Any update on foreign rice prices pls?

lebete3000:
25k+ for locally harvested rice. Na wa...

CandyOps:
You made that diagnosis all from looking at a 30sec video?

femisplash:
Technology is not the evil, humans are. Tech is like a chain that restricts a stray dog, that protects the yams from the goat. This same tech is changing the outlook in the ministry of Aviation and the ministry of Interior.

Written by Jedisco

There has been some macro changes I'd list below.

1. The naira has been free floated with significant less room to roundtrip. This way the effect of market forces would be more evident

2. Dangote refinery. Imported pretroleum products was our biggest need for forex and the last govt awarding him cheap usd helped get us in this state. However, the refinery is finally up and running and sourcing most crude locally plus then exporting finished products is a game changer. Of couse he has usd loans which he would pay back but these should be more favourable than importation.

3. Ending petrol subsidy- This has brought significant hardship but at same time dampened local petrol usage and smuggling. The previous method gave room to corruption and the govt spent huge amts of forex to forestall this. Worth noting that reduced energy is generally not good for growth.

4. Due to inflation, collapsed naira and all three above, the buying power of the populace has sadly reduced with many manufacturers looking for local alternatives where they can. i.e less appetite for imported goods.

5. Diasporean inflows- A major forex generator for the nation which the CBN has recently successfully been able to streamline. I know this as a few years ago, those looking to send in money would be advertising and exchanging details on WhatsApp or doing so via crypt0 channels due to high fees from the likes of Western Union or the govt insisting only usd can be received locally or the failed Naira4Dollar scheme. Now, there are very good apps which are licenced almost immediate. I believe the forex eventually streams to the govt coffers.

I believe the next major hurdle is fighting inflation tied in with reckless money printing. The CBN seems to be actively looking to address this. It remains to be seen the effect of the new minimum wage.

I was in Nigeria recently and surprised how 'relatively cheap' items have become due to the currency collapse. I think we are at or close to the bottom of this nightmare and soon at a stage where local investments may begin to yeild real returns. I am not rushing in but biding my time. The next 6-12 months should be crucial. If the Naira can keep ranging (1500 -1900) and resists further devaluation, market confidence should gradually return. I'm not looking to catch the bottom but would be keen to step in once things are heading upward

P.S as you may know, I have longed preached folks should defend their buying power and was at the forefront of warning folks to hedge their naira holdings against devluation over the last few years. Even beofre the current govt when I was quite sure the local stock market was due a rally and stated that here, I opted not to invest as I felt estimated returns in Naira might not beat corresponding investments in usd which has proven been the case. Its still worth being hedged so you don't get swept off your feet by a rubbish govt policy but to me, times has come to start paying attention.

Truvelisback:
Penny wise, Pounds foolish. He is a foolish man. God doesn't answer the prayer of foolishness. I guess, he has someone fending for him.

ariesbull:
Wait for 13th month salary sir...please after 20yrs in service abeg resign so that young ones can be employed

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Ebenezer2021:
find me job Abeg

Ebenezer2021:
Librarian

NaughtyBrainiac:
I'm waiting for those that have worked with Chinese, Indians and Lebanese

Sified:
Those Nigerians that get to travel abroad and now working there. One would think they will do better than the typical Nigerian employers having seen how it's done in the first world countries. But!!!

Nijimog:
Some principals are wicked o, how can someone be paid N32000, with the amount of school tasks being assigned to u

Your salary should not be less than N65000, even if you are just starting with them or trying to acquire experience

Everyone knows how the economy is, Employers should try to pay employees well, so that they give out productivity and consistency to your business

This same school principals will still go and look for another innocent people to enslave with there yeye school stress. Let them try and pay well, na even people self go dey rush to come there school come teach

Ebenezer2021:
I'm being paid 35k teaching as a subject teacher from JSS1-SS3

Christ4ever:
Less than 32k in a month?

Wetin go remain after removing transport fare?

elipheleh:
Bro do all the jobs.
There's no point dropping any of them.

If you cannot do the 3 because of time and overloading. Then I advice you to employ someone (who is jobless) and can do any one of the jobs perfectly.

Don't let the company know. Don't let him have direct access to the company. He reports to you, you them report to the company. Let him update you every 1hr.

This way, you kill 3 birds with one stone. You grow in all 3 jobs in ranks and salary.
And your own worker too is grateful to you.
Everybody is happy

mayor02:
This is a lovely write up. Thank you

Xplicit1:
Yes, Pls.

Harmic995:
HI, I've been looking for means to contact you, since ur whataspp channel malfunction
so you are now on telegram