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Nairaland GeneralRe: #Fynestboi and Friends Hangout Joint: by heo88(m): 4:24pm On Aug 06, 2016
Aminat508:
heo88 cry
kiss
TravelRe: Eko Boulevard Completed By Eko Atlantic City, Nigeria's 1st Eight Lane City Road by heo88(m): 7:49pm On Jul 22, 2016
ba7man:
Liar like you. undecided
Lol liar how? Pls I'd appreciate if you'd be kind enough to elaborate, along with your other two minions...

The floor is yours cool
TravelRe: Eko Boulevard Completed By Eko Atlantic City, Nigeria's 1st Eight Lane City Road by heo88(m): 8:41am On Jul 22, 2016
sunnyb0b0:
So not even a single picture....
AbI o, let me say, I've been past and into eko Atlantic as recently as last week, there's mostly sand and the odd structure. Therefore it can be deduced that this media report is just to manipulate market sentiment favourably.
PoliticsRe: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by heo88(m): 12:57pm On May 26, 2016
LRNZH:
For the first time in 2016, Brent crude blend has hit the $50 mark in trading. Other global crude blends are not far off from this landmark price which eases a lot of pressure from the finances of oil exporting countries.

Unfortunately, Nigeria which is bedevilled by the ongoing renewed militancy in the Niger Delta spearheaded by the Ijaw dominated Niger-Delta Avengers cannot benefit from this as the country's oil production level has dropped to a 20 year low.

It is argued in certain quarters that the current surge in global oil prices is due to the reduced output from Nigeria. In which case, we have become a buffer for the rest of the oil producing nations at our own detriment.

This is not a good time to be a Nigerian. There is no sense in the afflictions we have brought on ourselves with this development.
Errmm I'm not trying to be funny, but a little correction is needed here: Yes the West Texas Intermediate crude benchmark has hit $50.08 which can be seen as favourable, but this can be attributed to the actions of the militants in the Niger Delta and wildfires affecting oil fields in Canada. FYI the way the pricing works is much like supply and demand in economics. If the militants dropped off the face of the earth tomorrow and somehow the oil production increased significantly, the increase in output will apply downward pressure on the prices of oil globally. Frankly speaking, many outside of Nigeria would like to maintain the current oil production output or even slightly reduce it in order to further increase oil prices.

For the record, lower oil output is likely to increase global prices. If the right balance is struck then the increased revenues can offset Nigeria's current inability to maxmise its output capacity/potential.
PoliticsRe: Nigeria's Growing Fulani Conflict Stokes Biafran Cause, Dailymail.uk by heo88(m):
stanech:
The Fulani herdsmen attacked at 6:00 am, just after morning prayers in Nimbo, an idyllic village in southeast Nigeria where farmers grow yams and pawpaws.

At first the villagers thought it was a joke. The nomadic cattle rearers, who have clashed with farmers over grazing rights in central Nigeria for decades, had never come this far south.

But then they saw 20 young men descend from the hills and emerge from the palm tree forest, shooting AK-47 assault rifles in the air and waving machetes.

"We started hearing the sound of gunshots everywhere. They shot so many people," Kingsley Oneyebuchie, a 31-year-old civil servant, told AFP.

"They shot one of my brothers, they used a knife on my dad, they killed so many," he said from his hospital bed in the nearby town of Nsukka, bare-chested and wearing only red athletic shorts.

Oneyebuchie ran his fingers tentatively over a 20-centimetre (eight-inch) track of blue surgical stitches at the base of his scalp.

"They used machete on me. After using machete on me, they thought that I died," he said.

Oneyebuchie was lucky to survive the attack on April 25. At least 10 people are thought to have been killed and scores of others injured.

- Ethnic lines -

In the past year, raids by Fulani herdsmen have increased in the southeast.

The worst happened some 200 kilometres (125 miles) away in Agatu, Benue state, in late February, where hundreds of people -- most of them Christian farmers -- were reportedly killed.

The bloodshed mirrors that after Nigeria gained independence in 1960, when Igbos dominant in the mainly Christian southeast, were pitted against Hausa and Fulani in the largely Muslim north.

The ethnic violence led to two military coups, hundreds of deaths -- and ultimately a civil war, when the southeast broke away and declared an independent Republic of Biafra in 1967.

Some one million Igbos died either fighting for the fledgling nation or from starvation and disease in a brutal conflict that by its end in 1970 left the southeast broken.

Now, stricken villagers maintain the only solution to the Fulani attacks -- and perceived northern domination of political posts from the president downwards -- is an independent state.

"We need to know that this is Igbo and this is Fulani," said Oneyebuchie. "We want them to leave our place so that we will be free."

- Growing conflict -

According to the Global Terrorism Index 2015 report, "Fulani militants" killed 1,229 people in 2014 -- up from 63 in 2013 -- making them the "fourth most deadly terrorist group" in the world.

Most deaths happened in Nigeria's religiously mixed so-called Middle Belt states.

But the apparent migration south into Igbo territory is being used by an increasingly hardline pro-Biafra movement as an indication the Nigerian government doesn't serve or protect the region and is stoking discontent in the southeast.

Nigeria's President Muhammadu Buhari, a northern Hausa-Fulani who opposes the pro-Biafran movement, took until late April to speak out about the herdsmen, saying he had ordered military and police to "take all necessary action to stop the carnage".

He has proposed setting up a grazing plan that includes the establishment of cattle ranches and importing grass feed from Brazil.

Critics argue his response is too little, too late and overly ambitious.

"I have yet to hear this government articulate a firm policy of non-tolerance for the serial massacres," Nobel laureate Wole Soyinka said recently, describing the ranch plan as "optimistic".

- 'A second genocide' -

The arrest and detention of Indigenous People of Biafra (IPOB) leader Nnamdi Kanu last year catapulted him and his more hardline pressure group into the mainstream.

"Buhari has authorised a second genocide on Biafra," IPOB, which has been campaigning for Kanu's release through public protests, said about the herdsmen.

"Biafrans are on the verge of being exterminated," it added.

In Nimbo, the farmers use less emotive language but their underlying message is the same.

Today the village is deserted, with shiny new padlocks fastened on the wood doors of mud-brick houses and hectares of cassava and melon crops abandoned until safer times.

"We have been complaining to government, complaining to everyone, no help," said Thaddeus Okenwa, a 65-year-old cassava farmer with a raspy voice and muscular hands.

"We are now just managing because nothing goes normal. If they can give us our own independence, let's go.

"We don't pray for war now, but this (the Fulani issue) can cause it because you can't be a stranger in your home."


http://www.dailymail.co.uk/wires/afp/article-3594546/Nigerias-growing-Fulani-conflict-stokes-Biafran-cause.html
It's after the fact but these Fulani herdsman attacks are getting out of hand and Buhari needs to delegate an overhaul/improvement in policing.

I am not keen on the link between it and added momentum behind Biafra. The initial Biafra movement was understandable in some ways due to the violence levelled at Igbos resident in different parts of the country, namely Kano. However, even back then when the momentum began for a Biafran Republic, Ojukuw was being politically opportunisitic (He was Northern raised, educated in England and his dad Louis was the founder of the Nigerian Stock Exchange). When the shit hit the fan, he ran off to the relative safehaven of Cote d'Ivoire and waved the white flag in surrender, from a distance.

The demarcation of the area which includes the present day Rivers, Bayelsa, Akwa Ibom and Calabar subsumed within Biafra was a very deliberate move to ensure accrual of oil wealth/revenues. This was just as, if not more important than securing the safety of Igbo people. Had this cession movement been successful, it wouldn't have been to the benefit of the Igbos, Ikwerres, Efiks etc, at large, but to the benefit of a small elite as is the case in several countries/territories.

In the present day, people like Nnamdi Kanu are also acting opportunistically under the guise of Biafran agitation to preserve the safety of namely igbos, and if he succeeds, life will not improve under him, I can say this confidently. Besides, whilst I recognise everyone has a right to self-determination and can assert the idea of an Oduduwa Republic, Arewa Republic, Biafra, Niger-Delta Republic etc, it's worth considering the merits behind it. Ultimately, in a day of Nation State arrangments, and being an African country with all the historical baggage which comes with that, it is only a further disadvantage to not have a port. A latter-day Biafra wouldn't mirror the historical Biafra which means it would be landlocked and import and export of physical goods would prove problematic, without cooperation from the Niger-Delta. This would be similar for the likes of an Arewa Republic.

All-in-all, an overhaul of policing would remedy, at least in part, the security situation which is easily exploited by Fulani herdsman. However, if you're one who supports cessionary movements, it would be worth challenging your point of departure. The adage holds: "be careful what you wish for".
CareerRe: Should I Sack My Driver Or Not? by heo88(m): 2:31pm On Apr 28, 2016
BiafraBushBoy:
I write this with much urgency and anger inside me..

I am a young man in my early twenties and work as a management staff of a company. I have a driver that is it old enough to be my father's senior and I accord him due respect. But the problem is that he is not just doing his job in a professional manner..

He comes late to work, because I can manage and jump molue, so no need of him picking me from home.

Always complaining that he is bigger than driving his son's mate. But the truth is that I don't make him feel bad because as a guy man, I even sit in front with him and do other things just to create an atmosphere of respect for him. and because of this, l am always late for some business appointments.

He is not just focused on the job. And it has gotten to management's notice. So I was asked to run an appraisal on him...

But the truth is that.... he always tell me sometimes of how hard things are for his family and how he uses this Job to keep body and soul together...

Am kind of confused now, should I patch up for him, or give a correct report about him!!

I have now and tomorrow to report back.. Matured advice please!!
Bro it is very admirable you have accorded him respect due to his age etc. However, the man, according to your post, evidently doesn't appreciate your efforts and somehow sees fit to falsely preserve his ego at your expense, which is just plain unfair.

I can see how his hardship pleas have tugged at your heart strings, but the reality is that keeping him at your expense may do more damage than it has hitherto. Effectively, and please correct me if I'm wrong, his lack of professionalism may deny you future opportunities and I hope it will never get to this, but the axe may fall on your head.

My advice is that you are far better off saving yourself first before you think of him. I would hate for you to end up worse off in the long run.

All the best with the decision you eventually make- it is well.
PoliticsRe: My 1985 Ouster Caused Crippling Of Naira —Buhari by heo88(m): 2:35pm On Apr 23, 2016
Jirate:
PRESIDENT Muhammadu Buhari has said that the naira was strong against major foreign currencies when he was military head of state as he resisted pressure to devalue it.
Speaking at a meeting with members of the Council of Retired Federal Permanent Secretaries led by Otunba Christopher Tugbobo, at the Presidential Villa, on Friday, he observed that the naira was eventually devalued when he was toppled in 1984 after 20 months in office.
He insisted that he was yet to be convinced that the vast majority of ordinary Nigerians will derive any tangible benefit from a devaluation of the naira.
A statement issued by presidential spokesman, Femi Adesina, after the meeting said Buhari explained that he still held the conviction which motivated his principled resistance to devaluation in his first tenure as Head of State.
He said: "When I was military Head of State, the IMF and the World Bank wanted us to devalue the naira and remove petrol subsidy but I stood my grounds for the good of Nigeria.
"The naira remained strong against the dollar and other foreign currencies until I was removed from office in August, 1985 and it was devalued.
"But how many factories were built and how many jobs were created by the devaluation?
"That is why I'm still asking to be convinced today on the benefits of devaluation."
Buhari welcomed the Council's pledge of support for the successful implementation of his administration's Change Agenda, especially in the priority areas of improving security, curbing corruption and revitalising the national economy.
He added: "I am glad you have rightly identified the key issues we campaigned on.
"We need a dynamic bureaucracy which will not mislead us into taking wrong decisions."
The statement recalled that the Council of Retired Federal Permanent Secretaries was established in 2004 to serve as a platform for retired permanent secretaries to offer constructive advice to government on key policy issues.
Chief Philip Asiodu, the Pioneer Chairman of the Council, said that its members want the present Administration to succeed because Nigeria has already lost many opportunities for progress.
"We are non-partisan. The interest of Nigeria is paramount to us and we are anxious that you should succeed," Asiodu said.
Source: http://www.tribuneonlineng.com/my-1984-ouster-caused-crippling-of-naira-%E2%80%94buhari
https://www.nairaland.com/3063651/nigerias-economy-choking-under-pangs/1#44945313
PoliticsRe: Nigeria’s Economy Choking Under Pangs Of Politics- Businessday by heo88(m): 4:38pm On Apr 22, 2016
NavierStokes:
Source: https://businessdayonline.com/2016/04/nigerias-economy-choking-under-pangs-of-politics/
Honestly this coverage is getting tiring, especially because many providing it are being economical with the truth.

The long and the short is that the decision whether to devalue or not is not a panacea to solving Nigeria's economic problems.

In truncated form, Nigeria's heavy reliance on its crude oil leaves it vulnerable to exogenous threats like the inevitable volatility of global oil prices and its consequent effect on the government's ability to fulfill its annual budget without having to resort to IMF/other borrowings.

Any responses such as diversification is the solution, are correct, but in order to reduce importation reliance on consumables such as tomato, sugar, pencils (to name some of a few), it will take a long while to materialise, not least because of the inevitable resistance from vested interests who benefit from the income of imports. Getting to a point of manufacturing enough products/growing enough commodities to satisfy domestic demand will be a remarkable achievement, let alone producing surplus for exportation.

In short, the naira shouldn't be devalued because it will exacerbate the existing issue of inflation which at its most recent estimation (March 2016) was 12.8%, up from 11.4% the previous month. Due to the squeeze on dollar availability and its adverse impact on the private sector, if Nigerians think they're crying now due to limited jobs and slow wage growth rates, they've seen nothing yet. What is likely (but not certain) is a devaluation will beget stagflation where by a concomitant rise in inflation and the unemployment rate occurs. This should be anathema to the regular Nigerian.

In closing I recognise that a devaluation will predominantly benefit the foreign businessmen and women in Nigeria who benefit from exporting their produce (reduced currency makes exports cheaper), as well as the few indigenes who similarly benefit. However, make NO mistake about it, the majority of regular Nigerians will suffer as a result. Western and external pressure to devalue is to suit mostly foreign interests and as such I cannot co-sign such a move. Buhari, although I am not necessarily for or against him, is very right to resist such pressure and he is demonstrating strong leadership credentials thus far in doing so.

2 kobos worth from a Non-partisan Economist.
RomanceRe: What This White Man Thinks About Black Women (PIC) True? by heo88(m): 10:57pm On Apr 14, 2016
Toluwarni:
Man sparks outrage with his opinion about black women...
Ladies, how true is this?
Point of correction: the man you quoted is black. Feel free to google him if need be.
PoliticsRe: China Plans To Scam Nigeria - Max Amuchie by heo88(m): 3:39pm On Apr 14, 2016
ticker:
https://mobile.facebook.com/story.php?story_fbid=1052689368126246&substory_index=0&id=378378918890631&refid=7&_ft_=qid.6273342050025209960%3Amf_story_key.9015994599598537311&__tn__=%2As
With much respect to Max Amuchie, he said it himself, he is no financial expert and his contribution should be taken with a pinch of salt.

Unfortunately the full terms of the loan aren't revealed which naturally will give rise to plenty of speculation. Consequently, I will try to keep my own assessment as brief as possible (please be patient, it is a worthwhile read).

China and the US have a rather interesting relationship in the sense that China's growth in the past 30 or so years and their population size, poses a threat to the US' erstwhile hegemony in global politics. Part of this can be seen by China wanting the dollar as the World reserve currency to be substituted with a basket of different reserve currencies i.e. the dollar, yuan, euro, dirham etc.

For a truncated history on why the dollar is the reserve currency globally, this happened courtesy of a conference at Bretton Woods, New Hampshire, yankee, between the 1st and 20th July 1944. At the time the likes of France, UK, US, Germany etc were recovering from the Great depression of the 1930s and as a result had resorted to playing games with each other to have stronger economies, such as repeatedly devaluing their currencies to make their exports cheaper (otherwise known as a race to the bottom).

For any of you that know a bit about modern history (i.e. past 300-600 years), Nigeria, Ghana, Sierra Leone, Gambia etc, were part of Britain and so their agric output and other commodities counted as part of Britain's collective output. The US was the strongest economy globally at the time and this meant they exported more than they imported, also known as a trade account surplus. Through Henry Morgenthau (US Secretary of the Treasury/modern day equivalent of Kemi Adeosun), they forced through the dollar as the world reserve currency, fixed the exchange rate of all the western countries and pegged to them to the dollar then this was pegged to the price of gold (until the oil crisis of 1973), meaning that if any country had problems funding their budgets and/or were importing much more than they were exporting, then the IMF (International Monetary Fund), would bail them out with certain conditions, using the dollar.

The reason I typed the above was to state that much of the actions of 1944, still hold until today. China's arrival as a global power challenges this, and by providing funding to Nigeria using Yuan as the method of repayment, they're using this to gradually increase the circulation/dependency of the yuan globally in the hope that a reliance on the dollar will reduce at the same time.

Time will tell if this strategy will work, but yes the demand for the dollar is still relatively constant because ALL countries around the world are invariably dependent on it as part of the management of their imports/exports and/or receiving bail out funds/loans, but this doesn't mean that the status quo will remain going forward. On the contrary, if this works, Nigeria's dependence on the dollar will contract and China, I believe will be offering Nigeria more favourable terms that the US wouldn't or couldn't (to maintain their global power). Honestly, I am awaiting developments with baited breath but if this works, it may well be a good thing for Nigeria and an economic recovery can happen quicker.

For the avoidance of doubt, I am politically non-partisan and only offering a balanced Economist's view.
BusinessRe: The Dollar Vs Naira, Can This Be Done? by heo88(m):
989900:
As annoyingly repetitive as it may seem, we can't get out of this quagmire without addressing the below 'causes' -- even if we devalue the Naira to N1,000 to a Dollar!

1. Check excess liquidity and currency racketeering/fraud (see Henry Boyo's explanation. . . I have posted many stuffs about it previously), while promulgating industry revolutionizing monetary policies.

2. Amend our laws to draw in investors (use propaganda if need be).

3. Amend power generation and transmission laws to attract investors in that sector . . . do everything possible on earth and beyond to achieve at the least, 15 hours stable power supply averagely (this would catalyze industrial revolution, while reducing demand for refined pet. products).

4. Refineries -- we need all four gov't refineries, and tens of modular ones running since last decade -- until we stop the importation of refined petroleum products that eats up, up to 30-40% of our Forex, we are going no where!
We were bringing in hundreds of millions of dollars in the early 90s from refined products exports, right now, we should have colonized West Africa with NNPC products everywhere (refined products have no OPEC cap)!

5. Encourage exports, and local content.

Re: Senator Bruce: As much as I admire his vigor and enthusiasm about the whole 'buyNaija' awareness, it's just a fraction in the scheme of things!

While importing palm oil from the same Malaysia we introduced palm oil to, importing eggs from South Africa we fought and paid to liberate, importing rice from a politically unstable Thailand, or toothpicks from hell are all 'weirdos', they account for far less than what
importation of refined petroleum products cost us; then we have the importation of aircrafts and parts and servicing which costs us hundreds of millions of dollars annually -- but Bruce believes it's about our average $20-$50 shoes or bags, $100 phones, or what-not (roughly 10-20 percent of our forex demand), or about our cheap $5,000 cars which by the way generates income for customs when they 'land', while gov't and it's officials are actually the ones bringing the forex gulping machines (probably without paying custom duties).
NBS just released a report indicating between January 2010 - September 2015, we spent over N20 trillion (roughly $130 BILLION . . . 2014 dollar) on just importation of PMS, AGO, and DPK alone!
Same refined products we mine from our backyards, same refined products we were net exporters of (raking in millions of dollars from), 25 years ago! If this is not madness, what is?


Re: Ifeanyi Ubah: Though he is yet to disclose his so called "secret" or magic wand (but I guess it is: probably supporting the country's fuel import-consumption . . . probably for some while).

My own idea of bringing the dollar exchange rate to below N200 in say 3 months would be namely:

Stop the importation of refined products now and find alternative to how we survive without it -- it gulps 40% of our forex!

Crazy, right? However, we probably can (everyone's contribution and criticism would be helpful here), if the gov't is serious about it, and if it can carry the people along especially with the budding awareness of the demise of our economy.


1. Get the NNPC, special task forces, Armed forces, and the people on board as regards protecting the pipelines.

2. Get NNPC to make sure the refineries do not slouch again, rather, increasing in production.

3. Get the few trains we have working, and create an awareness on conserving fuel.

4. Provide very affordable mass transit buses, while encouraging car owners to shed usage, or re-introduce something similar to our old 'odd number/even number system' for cars that should have access to the road on particular days.

5. Provide gas, give free/cheap cylinders to boot if necessary.

6. Power: without fairly stable power supply it will be a difficult one. Fairly stable power reduces the need for PMS and AGO, reduces importation of generators and alternative power equipment.

7. Checkmate cross-border fuel smuggling.

8. Modular refineries: they can be imported and made operational in months.

9. Sell off some portion of gov't assets to foreign investors. #ppp

Additionals:

10. Encourage Nigerians overseas to invest back home.

11. Recover all debts, 'stolens', and 'accruables'.

12. Reduce gov't recurrent expenditure and buying local for all gov't purposes if available -- starting with them senator's cars, and presidential budget and travels.

13. Consider changing currency colors.

14. Agric exports.





If we can do all the above (sounds crazy though . . . desperate situation calls for desperate measures), our refined fuel consumption rate should drop to 'near' what NNPC can support, or at worst, greatly reduce importation of refined fuel by more than 60%. Then we "buynaija"; the Naira will firm up, and the CBN can probably tweak the exchange rate to gain say N2-N4/$, which will indicate a direction of positive purpose, causing the BM, hoarders, and racketeers to panic-sell their dollars, while the CBN tries its best to enforce and enhance/support a strict range for bank rates.

Devaluation in our case', is a symptomatic approach to a systematic malady: underlying causes won't be cured!
It's like taking paracetamol as a curative for stage 4 cancer -- it 'probably' might make your pain dissipate (very likely it won't), but just for a very little while.


*Everyone's contribution and criticism would be helpful here.
Bros your desire to see an improvement in our currency, and by extension a healthier economy/country is commendable and we could do with more people like you. However some of what you've put down are problematic for a number of reasons (of which I will make as brief as possible). It's a little long but you asked for contributions and I hope you find it a worthwhile read:

1. Nigeria is a heavily-dependent oil country. I am pointing out the obvious but the long and short is that much of the complicity of previous governments, negligence and vested interests at home and abroad have helped to reify Nigeria's position. The SAP (structural adjustment programme), effectively diverted interest from agric and other forms of large-scale manufacturing. As such Nigeria never took the opportunity to industrialise vis-a-vis the more affluent western countries such as UK, France and the US to name some of a few. Now due to the looting of the treasury, Nigeria would need a quick global oil price recovery (think summer 2014 high of $115pb), miraculously rid the country of the boko haram insurgency, rapid and quick infrastructural implementation, industrialise at a record rate to bring about a reduction in the reliance on oil.

I hate to sound pessimistic but those factors are highly unlikely, not least because there are global tarrif agreements covering the production of cocoa, sugar and other commodities to name some of a few, which ties the hands of many former colonies, including Nigeria, so even if the aforementioned recovery occurred in record time, they'd be sanctioned if they violate the trade agreements that have largely been in place since 1964. Jamaica and Togo to name some of a few have also suffered as a result.

2. The lack of operational refineries as well known are due not only to domestic neglect, but western complicity which shouldn't be underestimated. Military governments were utilised through subversive means to protect Western interests, and rewarded handsomely, hence why some guys such as IBB to name one of a few, will never be caught up in fraud/criminal charges. Abacha is a notable exception to this because he went off script and started doing his own thing.

3. The reason we import palm oil from Malaysia is due to the aforementioned poor governance. Whilst the previous regimes were busy lining theirs and their cronies pockets, we conceded vital ground. In economic theory it is called comparative advantage (has existed as a theory since circa 1810) which is whereby one country can produce goods more efficiently than another. Malaysia took the opportunity whilst Nigeria was dulling and they will not dull on the sidelines like the opposition in power rangers, and let Nigeria begin to try and recover this lost ground. There are elements who benefit from this importation, both domestically and externally, thus their vested interest(s) will be protected.


In sum I don't agree with a US-backed devaluation because we do not produce any commodities or goods which will help mitigate this action. A devaluation will only precipitate potentially uncontrollable inflation; dare I say stagflation where the unemployment rate simultaneously increases rapidly with a soaring inflation rate. If people think they're seeing pepper now, they've not seen anything yet believe me.

Ps. Please read below to understand the reason why Nigeria's affected by the dollar/naira divergence and also why pipeline vandalism and other distractions, may in one way or another, still persist...

Nigeria was created courtesy of British imperial interests.

Due to comparative advantage and the 1944 creation of Bretton Woods institutions: IMF and World Bank, Nigeria, among other countries were always going to be at a global disadvantage. An example of this is that our agric production at the time of the aforementioned institutions being created, counted as British economy production.

The fact that this action made the dollar the world reserve currency, also adversely impacts Nigeria up to the present day. The very reason it was created was to reduce the possibility of the European countries, US etc, initiating another world war. Basically their unity is at the expense of Africa's.

Another factor that irks the West, is also 1973 oil crisis which messed up their economic growth but contemporaneously benefited OAPEC and Nigeria, resulting in Nigeria's currency, for a time being valued higher than the dollar and sterling concomitantly.

Post independence, Nigeria has been ravaged by competition from vested interests, whether 'Nigerians' being complicit in sustaining interests of the west, and/or the West sponsoring the successive brutal military regimes to protect their interests, of which an example can be seen in Shell's complicity in Ken Saro Wiwa's execution. Furthermore, even MKO was targeted because he was on the brink of securing a $250bn reparation package from the west, before his successful, but annulled 1993 election campaign.

In sum, Nigeria among others is perpetually kept in its low position because of the legacy (and continued clandestine practices) of western vested interests.
PoliticsRe: Buhari To Sign Loan Deal With China by heo88(m): 2:06pm On Apr 07, 2016
fashoo2010:
Nice one... Hope the loan will reduce the ongoing hardship on the masses.

Beside, why is it the we African are always going to Europe, Asia, north america to get loan? Non of this country has never think of borrowing from us, why?
I will try to give you the shortest answer possible: Nigeria was created courtesy of British imperial interests.

Due to comparative advantage and the 1944 creation of Bretton Woods institutions: IMF and World Bank, Nigeria, among other countries were always going to be at a global disadvantage. An example of this is that our agric production at the time of the aforementioned institutions being created, counted as British economy production.

The fact that this action made the dollar the world reserve currency, also adversely impacts Nigeria up to the present day. The very reason it was created was to reduce the possibility of the European countries, US etc, initiating another world war. Basically their unity is at the expense of Africa's.

Another factor that irks the West, is also 1973 oil crisis which messed up their economic growth but contemporaneously benefited OAPEC and Nigeria, resulting in Nigeria's currency, for a time being valued higher than the dollar and sterling concomitantly.

Post independence, Nigeria has been ravaged by competition from vested interests, whether 'Nigerians' being complicit in sustaining interests of the west, and/or the West sponsoring the successive brutal military regimes to protect their interests, of which an example can be seen in Shell's complicity in Ken Saro Wiwa's execution. Furthermore, even MKO was targeted because he was on the brink of securing a $250bn reparation package from the west, before his successful, but annulled 1993 election campaign.

In sum, Nigeria among others is perpetually kept in its low position because of the legacy (and continued clandestine practices) of western vested interests.
FamilyRe: Dating Advise For A Frustrated Londoner by heo88(m): 12:11pm On Apr 03, 2016
Lonehenge:
Thank you. I feel your post captures my frustration pretty well. Unfortunately, it doesn't offer much in the way of solutions. You are quite spot on with regards to the nature of the networking events - typically attended by ladies in their early thirties, whose core goals, i presume is to out-compete other ladies for the relatively few guys in the room. These sorts of settings frustrate me.

My medium term goal is to have a stable relationship that may on the longer term hopefully lead to marriage. In the shorter term, i would like to focus on building my career but at the same time, have a partner with whom i can strongly connect with, enjoy companionship and carefully plan a future with.

Yes, there are many girls in London and I have tried dating outside of what i would consider my default setting - i.e folks from other culture or background. It just hasn't worked out. The bigger problem, i suppose, is that i know what i want, and i feel too strongly about it -
Bros yes I encapsulated your frustration but I also beseeched you to look for a babe that will add value. I honestly wish I could put forward a panacea that will solve this for you, but in reality it's not sensible for me to do so, considering there's no hard and fast approach to finding a woman.

I am happy to make a suggestion though: What you can do is step up your approach to the ladies, ginger them small but use the gist to find out what the babe may offer a guy they're dating and based on this you may wish to move forward with them.

I know I stressed your frustrations in my initial approach, however, there was a method to the madness: I was stressing the need to scrutinise the lady in question before you commit yourself. As you said, you want to progress your career, which is honourable and expedient, but it is absolutely vital you ascertain her plans and intentions to contribute to your hitherto plans or you'll waste precious time, resources and almost certainly compounded your existing frustrations further. This babe waka no b small tin; that's to say even a fun, good time babe may attenuate your career progress, doing more harm than good.

Again, I wish you well and beseech you to shine your eye.
FamilyRe: Dating Advise For A Frustrated Londoner by heo88(m): 5:17pm On Apr 01, 2016
Lonehenge:
I am 28 this year and I have lived in London for more than 4 years. I have a decent job in the city and career progression looks good too.

My biggest source of frustration has been my loveless life for the past 3 years or so. Day by day I am stuck in the vicious circle of work, sleep, play eat. Repeat. As I am approaching 30, I am starting to get really worried about myself

I have tried a few networking events...notably MBTN and NCITY events, however, I am not too certain if these either adds to my frustration or somewhat provide some relief knowing that there are many others like me out there.

More fundamental is that the woman I have dreamed of - Nigerian roots, smart, open minded, ambitious, confident and fun - never seem to attend these events....maybe she doesn't exist at all?

Anyway, back to my reason for opening a thread, I would like to know if there are many others out here like me?

Second, for those who have been like me before, what have you done differently?

Other views or opinions are of course welcomed.
Further to my initial comments, can you please tell us how you approach the ladies in question?

Also, please let us know a bit more about your personality? Are you shy? Talkative? Flirtatious? etc
FamilyRe: Dating Advise For A Frustrated Londoner by heo88(m):
Lonehenge:
I am 28 this year and I have lived in London for more than 4 years. I have a decent job in the city and career progression looks good too.

My biggest source of frustration has been my loveless life for the past 3 years or so. Day by day I am stuck in the vicious circle of work, sleep, play eat. Repeat. As I am approaching 30, I am starting to get really worried about myself

I have tried a few networking events...notably MBTN and NCITY events, however, I am not too certain if these either adds to my frustration or somewhat provide some relief knowing that there are many others like me out there.

More fundamental is that the woman I have dreamed of - Nigerian roots, smart, open minded, ambitious, confident and fun - never seem to attend these events....maybe she doesn't exist at all?

Anyway, back to my reason for opening a thread, I would like to know if there are many others out here like me?

Second, for those who have been like me before, what have you done differently?

Other views or opinions are of course welcomed.
Bros this is very interesting because I am also 28, London based, although born and raised here and I think I understand your frustration. I am going to try to assist the best way I can.

I have also been to many MBTN and NCITY events. It's mostly recycled people so it's not worth attending to find new women.

In terms of improving your hitherto rate of luck, it may be worth asking yourself what your end goal is. That may seem abstract and I can deduce from your initial post that you want to get married sooner rather than later. However, if I was in your shoes I'd ask myself why do I want to get married so much? How can a women make a worthwhile contribution to my life? Etc

You see the problem is most people, and this includes many of the young ladies you'll meet at such events, or even elsewhere in London, are out for what they can get. That's to say that they don't get the precept of 'quid pro quo', that is mutually beneficial relationships. Often they can give you an Economics PhD-level thesis of what they want from you, but the irony in this is that they often have little to offer themselves; not even rudiments. Even some of the latter-day 'Feminists' are only operating under this rubric so as to turn guy to mugu-maga through pseudo-intellectual manipulation. Make sure that the same standard any babe wants to hold you to, she's also willing to meet herself. If not then jog her on sharp sharp.

I wish you well, but please bear in mind that you're in a good position and any women who falls from the sky may actually do more harm than good. It's imperative she's worth spending time with, otherwise it's a waste of finite resources. Please don't get frustrated with yourself as to not having cornered a babe and remember you will be a catch for many a babe. Take your time, relax and be at peace; the right babe for you will eventually come.

All the best and Godspeed.
CultureRe: Yoruba Name Not For Your Daughter - Brazilian Officials Tell Couple by heo88(m): 5:02pm On Mar 29, 2016
tpiah01:
seems Foluke means surrendered into the hands of God, therefore the literal translation into Portuguese would be Rendeu-se nas maos de Deus (from google).

They can try contracting it into a name since the meaning can also be expressed in their native Portuguese.
Now you put it like that, it could definitely work!

What I've deduced from the story is that they want to assert an African identity. Afro-Brazilians have had their culture suppressed since their arrival in the 1500s. This has continued to the present day and they've mostly been marginalised, contemporaneously with a white migration policy (also adopted by the US, Australia, Canada, New Zealand, and South Africa) to help sustain their marginalisation. This has had all kinds of consequences such as miscegenation (mixed marriages and offspring), to help breed out their 'blackness'. In response a small group of Afrocentric Brazilians are reasserting the African identity which has been robbed/attenuated by their oppressors. This is what makes this story very political.
CultureRe: Yoruba Name Not For Your Daughter - Brazilian Officials Tell Couple by heo88(m): 3:24pm On Mar 29, 2016
tpiah01:
Why not change the spellings to sound Portuguese.
That will not work. The composition of the Portuguese language is such that it greatly diverges from the yoruba language. Consequently if they choose a more 'Portuguese sounding' name, this will completely change the meaning, thereby defeating the initial purpose.
RomanceRe: Woman Exposes Ladies She Over-heard Planning To Attack Their Cheating Boyfriend by heo88(m): 6:13pm On Mar 18, 2016
Monalisa185:
why would they even attack a cheating BOYFRIEND? He's just a boyfriend, for goodness sake, not your husband, if you catch him cheating, dump his sorry ass and move on...what guarantee does she have that after he must have been dealt with, that he would stick to her? Mtcheeeewwww.... abeg make she reserve her wickedness for her future husband, that's where she would have a right to give him rat poison when caught cheating....gringrintongue
Misguided and possibly underemployed young ladies. I understand their frustrations and hurt (at least I think so), but such actions are superfluous and they may have adverse consequences. If so, would it really be worthwhile? I'm not so sure.
BusinessRe: Naira Exchange Rate Against Dollar, Pound And Euro by heo88(m): 4:51pm On Mar 14, 2016
cao:
I helped my sister to buy something online over here with her GTB card on Saturday, her bank charged her at the 435 rate, she had expected it to go at the CBN rate, well she was very surprised, she decided to cancel the order since it almost bled her dry - the rate made it go exceedingly over budget. If I was getting the Nigerian Black Market rate on my UK card, I'd be golden, I'd be Queen, I'd stroll into Nigeria feeling like Elizabeth II. The current rate still works in my favour though, if I decide to use my UK card when I visit. We rely on oil & dollars too much in Nigeria. Oh well, I'll just keep an eye out when I visit Nigeria & be a bit more conscious when I use my Zenith card over here, before the exchange rate finishes my money.
Smart move from her and from what you've said we can see why it's useful to take exchange rates into account when purchases are likely to be affected by it.

When you say you'll be more cautious with the use of your Zenith card, correct me if I'm wrong but I'm assuming you transfer funds whilst in the UK to this account in advance of your arrival to Nigeria? If so then there are a number of options in London as to getting a good black market rate for your £s.

As for Nigeria's dependence on oil and foreign currency, although beyond the scope of this thread I'll do my best to truncate the reasons due to its inevitability.

Nigeria, as we know, along with many other countries were created for colonial interests, and the creation of the Bretton Woods institutions: The World Bank and the IMF in 1944 to stop the western countries competing against each other, played a significant part in the world as we know it today. In doing so this paved the way for their colonies to eventually receive independence and in the process of doing so, become 'European-style' countries. Subsequently a policy of consumption of western goods by the new colonies followed, but such countries incurred deficits which further created a gap between themselves and the western countries. In 1982 the Structural Adjustment programme was initiated to help overcome these deficits but came with certain conditions which further compounded the problem for many. As a result diversification in Nigeria's economy away from a large dependence on oil was less likely as a the time the global demand for crude oil far outweighed demand for any other commodity we produce such as uranium, bauxite, gold etc.

Another factor which shouldn't be overlooked is that Nigeria along with many other countries' oil were used to help the western countries continue to be wealthy by maintaining their level of production. As a result many organisations such as the FBI, MI5/MI6 and other French secret agencies were complicit in the arranging of coups and the overthrowing of incumbent regimes in order to maintain their power globally, which required stability or rulers who's governance were conducive to Western foreign policy interests.

The way the system is set up, if you export commodities then you receive foreign currency i.e. $s and the same foreign currency is used to purchase imported goods. Invariably, if your imports outweigh your exports then it is likely you'll have what is called a 'current account' deficit. This system has been in place several years before the creation of the Federal state of Nigeria, thus a lot of what has happened and is lamented by the everyday woman or man was always going to happen.

I know it's a bit of a long epistle but I thought it would be useful to share this with you and other nairalanders. Whilst I can't absolve culpability on the part of former rulers for their role in Nigeria being in its current state, we should consider the issue of agency and the reality is Nigeria, as a British creation is largely subservient to the wishes of the West.
BusinessRe: Naira Exchange Rate Against Dollar, Pound And Euro by heo88(m): 3:47pm On Mar 14, 2016
cao:
Thanks for the explanation, so essentially the banks are charging us Black Market rates because it's profitable. I honestly don't even check my account anymore, since I don't want to depress myself whenever my Zenith card decides to work over here. The annoying thing is if I decide to use my UK card when I'm in Naija, I'll obviously be charged the official rate.
You're very welcome.

Further to what was discussed, the reason for the divergence between the official rate and blackmarket rate is due to the demand for dollars. Of course dollars have become more scarce due to the reduced revenue from our crude oil exports.

If the oil price was to rebound over night (although highly unlikely) to a 2014 summer-high of $115 pb (per barrel) then the dollar scarcity will be eased and the divergence between the rates would reduce.

This is why it hurts to use your UK card when in Naij. I had can relate with your pain because I got something like N360-380 to £1, but when I ran out of money in my GT account, my UK barclays card was charging me in the region of N283.1, give-or-take.

Vis-a-vis when I was in Nigeria during 2013 and 2014, the gap between the official and blackmarket was a lot lower. Didn't hurt as much whichever card I chose to use.
BusinessRe: Naira Exchange Rate Against Dollar, Pound And Euro by heo88(m): 1:51pm On Mar 14, 2016
cao:
So why aren't the banks charging the CBN rate?
They make profit on this difference (the spread).
Car TalkRe: Rolls Royce Owner, Who Lives In A Rented Flat In FESTAC by heo88(m): 5:17pm On Feb 05, 2016
Bossforeva:
According to an Instagram user, who shared this photo, he said that the owner if the Rolls Royce, leaves in a blocks of flat in Lagos.
Meanwhile, a new Rolls Royce costs about N215 Million at Coscharis.
What's ur Say?
http://starttells.com/2016/02/04/rolls-royce-owner-who-lives-in-a-public-flat-in-festac-lagos-state/
Did it occur to whoever made the original post that the real car owner may be the oga of the person living in the rented flat in festac, and that for ease sake he may have to park it at his residence every now and then?
Jobs/VacanciesRe: APPLY FOR 2016 COMMONWEALTH SCHOLARSHIP FOR MSC AND PHD AT UK UNIVERSITY by heo88(m): 5:42pm On Dec 11, 2015
marqueetim:
Ma guy, this is the dude u met. hope u av gotten bck to ur base?
Guy how far. Yes I'm chilling in Abj until Sun
Jobs/VacanciesRe: APPLY FOR 2016 COMMONWEALTH SCHOLARSHIP FOR MSC AND PHD AT UK UNIVERSITY by heo88(m): 4:41pm On Dec 11, 2015
EleojoA:
I advise u go to the University of Abuja Teaching Hospital (former Specialist Hospital), Gwagwalada; instead of the National Hospital. Tell them that it's very urgent so they should kindly give U a fitness cert based on the fewest number of tests. If they agree like this, in about 2 hrs U may get the cert & come late to the interview venue.
Best wishes with this...
God bless you for the advice. Unfortunately they bounced me for not having done NYSC yet which they told me beforehand was not a prerequisite. Even more unfortunately I've wasted plane fare from London to Abuja.
Jobs/VacanciesRe: APPLY FOR 2016 COMMONWEALTH SCHOLARSHIP FOR MSC AND PHD AT UK UNIVERSITY by heo88(m): 3:42pm On Dec 09, 2015
jc2xl:
wait ooo.....I have not yet received the mail. One of my referees has been finding it difficult to submit a report, could that be the reason I have not received the mail?? I just got my medical fitness certificate from National Hospital Abuja, I spent roughly 11k.
Guy how quickly can I get one? I will be going for my interview tomorrow but I get into Abj at 6pm so is there enough time to do it before 9 am?
PoliticsRe: Amaechi Undergoes Security Screening At Lagos Airport (Photos) by heo88(m): 10:59pm On Dec 03, 2015
dainformant:
In a public show that "no one is above the law", Minister of Transportation, Rt Hon Chibuike Rotimi Amaechi subjected himself to vigorous airport security today at MMIA Lagos. He was accompanied by Dele Momudu, Publisher of Ovation magazine and Boss magazine.

http://www.nationalhelm.com/2015/12/photos-minister-of-transportation.html
His shirt reminds of ghana-must-go bag undecided
FamilyRe: How Well Does The Chinese Calendar Describe You? by heo88(m): 5:59pm On Oct 14, 2015
Zehner:
Dragon shocked. Chai my Energy tho. Even my oga Don tire for me grin
Big baby tongue
CelebritiesRe: Dancer, Kaffy Half Unclad In Recent Photos by heo88(m): 5:13pm On Sep 25, 2015
Zehner:
she wasn't originally. undecided
Hmm yellow how na
FashionRe: Photo: How Can She Put On This On Her Wedding Day Nitori Olorun!!! by heo88(m): 9:58am On Aug 16, 2015
Zehner:
It's not that bad!
OYO tongue
CelebritiesDavido Welcomes His First Child, A Baby Girl by heo88(op): 9:47pm On May 16, 2015
Yesterday, I told you guys that Davido had welcomed a child. Then I re-wrote it and said it was his sister. Well, I have to apologize for that. Some people tried to play mind tricks on me...Lol. It was Davido who actually welcomed a daughter, not his sister. Sharon Adeleke is still pregnant. You guys remember a post I did about a week ago saying an A-list artist was expecting a child? Read here. Well, I was talking about Davido. He just welcomed a daughter with a lady named Sophie Momodu.

Yesterday, Davido shared this photo of a hand holding a baby, it was his own way letting y'all know what is happening to him without saying much. I went to find out and yes, he's a dad! This is fact, not rumor! And I hear he's very excited about being a dad. Big congrats to him.

http://lindaikeji..co.uk/2015/05/davido-welcomes-his-first-child-baby.html

RomanceRe: (Proven) How To Coarse Cheats Into Confessing by heo88(m): 6:46pm On Apr 28, 2015
Sommyangel:
Mtcheeew. The most annoying post I ever read on naira land.. Should we clap for uhuh
eyyaa no vex sweerie grin grin

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