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Investment / Re: Crypto Currency Investors Thread by Itzlinda(f): 6:38pm On Sep 07
Fastt:


Soon on binance. That token life span don over. Used to be a "high quality token".

Nawao. Na this kind thing de turn people to btc maxi small small.

After this circle if I touch anything apart form btc make I bend

12 Likes

Jobs/Vacancies / Re: Monthly Net Salary Of Federal Government Ministries,departaments, Agencies And P by Itzlinda(f): 9:18pm On Sep 04
Pandew:
Good Morning guys..

Pls I seriously need your help all..

I want to be connected with Rice processing companies located in Kano State and others as I can supply locally cultivated unprocessed Rice grain at a reasonable price.

Abeg make una help as job no wan come make I try business..

European Football (EPL, UEFA, La Liga) / Re: EPL Chatroom - All Discussions by Itzlinda(f): 11:41pm On Sep 03
My own issue be say make them no allow naira break down again oo.
They should try maintain it at 1500-1600.

Cause of it breaks down to 2000 the hunger go de intense

2 Likes

European Football (EPL, UEFA, La Liga) / Re: EPL Chatroom - All Discussions by Itzlinda(f): 9:20pm On Aug 15
BlueRayDick:


The circumstances are different .

Wike did not deal with a strong politician who has cult following like Ganduje had to deal with the red cap fraud na.

If Ganduje try half of the nonsense Wike did in Rivers , the whole of northern Nigeria will burn. The governorship tribunal case lasan, we all saw how the whole state was tense before Supreme Court’s final judgement

The reason for Tinubu performance in kano is not Gandollar but the senators of the two zones. The present deputy senate president is the only apc senator that scale through.

1 Like

Foreign Affairs / Re: Kenya Set To Revive Some Tax Measures In The Scrapped Finance Bill by Itzlinda(f): 10:37am On Aug 14
Throwback:
It cannot be escaped.

Protest or no protest, government must always raise funds to run the country.

I will only advise every government to focus on more taxing for the fat cats who cannot even stage a protest in the midst of the luxury they already enjoy. But not too much taxation that prevents their creation of jobs for the ever angry mob.

To run campaign as a populist supported by the youth, is not the same reality with taking hard decisions as a leader for the greater good.

No, government should set up effective measures to stop corruption and you'll have people paying taxes without out complain.

You can't have them bellos stealing 80 billion naira and expect people to pay taxes.

Why would I give my hard earned money for somone to steal
Technology Market / Re: Iphone 11 128gb For Sale by Itzlinda(f): 1:37am On Aug 11
celestial1:
240k

Send message
Technology Market / Iphone 11 128gb For Sale by Itzlinda(f): 11:37am On Aug 10
Neatly used.
working perfectly.
bh 93%

260k

slightly negotiable

WhatsApp

08080455722

Politics / Re: Tinubu Rules Out Return Of Fuel Subsidy, Says Decision Painful But Necessary by Itzlinda(f): 3:33pm On Aug 05
adanny01:


Do you know exactly how much they earn from crude? Do you know exactly how much subsidy they pay? Why is it how much they borrow that they want to tell us? It doesn't add up.

I don't believe they borrow to pay subsidy. [b]There is no way the entire money they earn from crude sales will be less than the what they spend on petrol. [/b]Who pays the subsidy, it is NNPC. It's not CBN or ministry of finance. They pay it even before remitting to CBN. Is the NNPC borrowing money? No.

So what's happening, subsidy is not their priority because of the huge bill. To convince you they tell you we borrow to pay it. They can't tell you they borrow to buy or maintain their private jets or estacodes. To do away with someone or something, just paint it black. They are not borrowing, period.

Take this anywhere, petrol and other refined petroleum produce is the biggest and most expensive things that consumes our FX. The fact that every commodity and service in this country depends on it should tell you what it can do do the economy. You use petroleum products to process the wheat.


The only blame I have for political leaders is the lack of political will. Otherwise, the blame is actually on all of us individually. All those in NNPC, are they not Nigerians. The importers, are they not Nigerians. The corruption is in every office in this country.

If the president makes a scapegoat of one or two people. People will think twice.

Unfortunately petroleum isn't the only item needed to run the country. We need electricity, health and road other amenities. So if we continue paying subsidies it means less money to fund these infrastructure development.

Unless you opined that we should ignore building bridges and fund cheaper energy and dollar. I may agree with you on that.

I believe some of the money we are borrowing building bridges absolutely needles and what has crashed the economy.

Progress is measured by economic indices not length of roads or number of bridges constructed.

It is your level of progress that determines what infrastructure you can afford to build without your economy crashing down.

Buhari came with his infrastructure campaign and crash the economy leaving us with humongous debt to service.

My anger was Nigerians should have occupied the roads when these lootings were done and bad policies were implemented, not now that we are seeing the culminating effect.

Northerners did not protest for Buhari with all his atrocities, it's now that yoruba is in power for less than one year that they want protest
Politics / Re: Tinubu Rules Out Return Of Fuel Subsidy, Says Decision Painful But Necessary by Itzlinda(f): 12:19pm On Aug 05
adanny01:


Yes dey do make a stable economy. Is it a coincidence that immediately fuel subsidy was removed, astronomical high inflation set in without control that has almost doubled in a year. Immediately after removal of subsidy, the black market FX put too much pressure on the Naira that the fixed rate (subsidy rate) couldn't be maintained so they had to remove that one too.

It's a ripple effect. I am sure you don't see the link between petrol and the economy. What is economy? Simply, the careful management of resources. The key word is resources. The biggest waste of our resources (dollars) is the importation of refined petroleum. What is subsidy? Simply, money by state or govt to keep commodities and service low. See the link by Google: In economic theory, subsidies can be used to offset market failures and externalities to achieve greater economic efficiency.

What has Tinubu done, he removed the very things that maintained the economy and left the market failures to continue wrecking havoc.

It's simple, how do we get petrol in Nigeria? With dollars. How do we earn dollars? Majorly from crude. Who is incharge of the up, mid and downstream, just one company called NNPC. It is fair to say what ever happens at NNPC, our economy depends on it. There are 3 major things at NNPC, crude, dollars and import of refined crude. All these are done in dollars without accountability. The bulk of the corruption is in NNPC crude deals and the import deals. The import deals consumes our dollar revenue. Only the balance gets to CBN and this is always little.

Imagine if you give a fraudulent car driver your car to use for commercial transport and remit pure profit. 95% of drivers in Nigeria will ruin your car in less than a year and you will still not recoup the investment. Fake repair bills, reckless driving etc. That is what NNPC is doing. Subsidy is not the problem, NNPC is the whole problem. See the problem; we sell crude and earn dollars, we send importers to go and buy refined oils, they go to CBN and get dollars at subsidized rate, they supply and NNPC pays them subsidy from the crude sales, before NNPC remits the rest to CBN. These importers earn double subsidy.

From the 3 major things NNPC is responsible, remove one and see how government revenue will increase. That thing is import of petrol, diesel etc. by producing locally. Both subsidy from CBN and NNPC are earn by the same people. Eliminate the corruption and everything about supply of petroleum products ends there. What remains is just earning dollars and it goes straight to CBN.

I ask again, the same NNPC that made sure not one of our refineries is service is the same NNPC blocking Dangote refinery from work. They want him to buy crude far from Nigeria at international rates so that when his products hit the market, it will be more expensive such that it will not be sustainable while they deceive us that it's cheaper to import.

Instead of subsidy, produce it. We have everything.


I agree. But if we are not borrowing to fund them. My argument is as long as we are borrowing to fund them. It is common logic that there will come a time when we cannot afford to borrow.

Even Sanusi has predicted exactly same scenario when we won't be able to afford the borrowing but everyone turn deaf ear because nobody wants hear the truth.

It was the same structure at nnpc that was funding subsidy despite the corruption, didn't you asked why are they unable to do it now.

Buhari already removed subsidy in the budget because it was unsustainable. Tinubu only came at the wrong time.

Both the candidates pledges to remove subsidy and float naira. Because they checked the finances and it's not possible to sustain.

The only way out for us if we want afford subsidy is to increase our daily production or we miraculously pray for crude oil prices to go up.

Petrol is not the only thing we import, there's medicine, wheat and other supplies.

I don't blame nnpc for disfunctional refineries. I blame political will from leaders.

Algeria with a lesser population has a 5 functional refineries.
What has stopped Nigeria from doing same?

Is nnpc above petroleum minister?

Nigeria is just corrupt country with everyone looking for his pocket only. As we collectively run the country dry. We are now looking for scapegoat to blame
Politics / Re: Tinubu Rules Out Return Of Fuel Subsidy, Says Decision Painful But Necessary by Itzlinda(f): 10:33am On Aug 05
adanny01:


The duo of Subsidy and fixed Forex was what kept our economy stable.

I still insist, these 2 were not the problem. If we make more money, than these 2 take, we will still be growing.

The rogue elephant had been the responsibility of government to deal with. What did they do, government just transferred the burden of corruption from is accounts in CBN to the accts of all Nigerians. Do you understand?

We need petrol, it's either government pay part we pay part or we pay all. Govt chose we pay all. How does it affect the corruption. As long as the money is paid, corruption continues.

What he ought to have done is to remove subsidy when dollar is not involved. When is that, when we extract our oil, refine it and make available at pumps, all locally. That was the way and it's still the only way.

Why do you think they don't want Dangote refinery to work. They want to continue to deal petrol in dollars. In dollars means that what we earn should be spent on petrol.

As long as we pay dollar for diesel, petrol, gas, fertilizer, lubricants and all other petroleum products there will be no positive effect of any economic policy.

Subsidy should have ended naturally with local production.

The entire money Tinubu thinks he saved is wasted through inflation. He has to pay more salaries now, all contracts have gone up. It's the same saying, "penny-wise pound foolish".


I don't think they make our economy stable. They only make living expenses cheaper for the resident. If it was stable, we won't have to borrow to fund the subsidy and fix dollar rate. Dollar was 700 in black market while official rate was 450. I don't know how this translate the economy.

If you are borrowing to sell cheaper petrol and dollars to the resident and you call it stable economy, then I don't know what your definition of stability is.

The fact is our woes started after obasanjo regime when we fixed the dollar rate we cannot defend.

The dollar rate should have changed immediately we started noticing weakness in our economy due to fallen oil price but the politicians don't want look bad and kept borrowing to mask the real issue on ground.

With exploding import dependant economy, lower oil prices and output, not even Jesus can fixed dollar at 400 and petrol at 180 in Nigeria
Politics / Re: Tinubu Rules Out Return Of Fuel Subsidy, Says Decision Painful But Necessary by Itzlinda(f): 10:07am On Aug 04

adanny01:


Not true talk. Before the removal of subsidy, I have said it every chance I had that subsidy is not a bad thing, the problem with subsidy is the process and how NNPC has corrupted it. By removing the subsidy, govt accumulates more money thinking it will be a good thing, no, the corrupted NNPC transferred their greed through petroleum resources to Nigerians. This made inflation rise and at the end of the day, Naira fell.

In summary, Tinubu thinks he saved N9trillion, what's the value of N9trillion compared to what it was 2 yrs ago. Naira has lost 70% of its value under Tinubu. His 9trillion is actually same with 2.7trillion 2 yrs ago.

It's either the economist working with him are not qualified or they all have an ulterior motive to sell this country.

Inflation is still in the hands of NNPC, he can tackle them and real progress can begin or corrupt them more and we will never get out of it. The height of Inflation is a reflection of the amount of money earned by nigeria legitimately but stolen and illegitimately taken out of Nigeria. Look at it this way, the inflation resembles a country that has stopped earning. The burden is poverty on citizens.


The question was can we really afford subsidy? Buhari was borrowing to fund subsidy and defend naira which exactly was the reason why at a point almost all our revenue goes to debt servicing?

How long can we continue down that road?
.
Do you think what's happening in Venezuelan or Zimbabwe isn't possible in Nigeria?

1 Like

European Football (EPL, UEFA, La Liga) / Re: EPL Chatroom - All Discussions by Itzlinda(f): 12:00am On Aug 01
Sonatrach Algeria Oil company revenue 2023- $75billion
Algeria Oil production- 1.6m/b
NNPCL revenue 2023- $4billion

1 Like

European Football (EPL, UEFA, La Liga) / Re: EPL Chatroom - All Discussions by Itzlinda(f): 12:19am On Jul 24
Why the only path out of Alhaji's tears is for him to concentrate on exports:

"Forget above market returns, Nigerians have never been able to pay just the actual price of the petrol they consume anytime in the last 3 or 4 decades. Even after ‘removing’ the subsidies with a flourish (“subsidy is gan!”) in his inauguration speech in May 2023, current reports suggest that they are now higher than when Bola Tinubu ‘removed’ them last year.

So to go back to that post which said “No smart investor would make a $19.5 billion investment and want it to be undermined by importers” - we have to ask again - who was this refinery built for? Because thinking about it logically for 2 mins will tell you that there is no path to any returns from selling a product to Nigerians who cannot pay the market price for it. Where will above market returns come from? Will the government ‘subsidise’ the product to a level that allows healthy returns?

The question of ‘importers undermining’ the refinery is therefore completely irrelevant. This is not cement where Nigerians will only build 10 houses instead of 100 due to high cement prices. Using the same approach for fuel will more or less cripple the economy. Importers are not the problem here at all. The only solution for Dangote is to get the refinery’s products out of Nigeria as fast as he can and sell them to people who can actually afford to pay for them. Of course there is no chance of above market returns in a highly efficient global market for refined products, but it is better than nothing.

The ‘importers’ meme has of course generated the most outrage since it is the easiest Nigerian button to press. Saying anyone who wants to ‘compete’ with Dangote should set up a refining operation in Nigeria is senseless since not everyone has a huge chunk of capital available from a government created market like cement to misallocate into a high risk low reward venture like refining. In Europe for example, what has kept refiners alive has been a boost from the war in Ukraine as well as several refiners exiting the market after they collapsed, leaving the survivors with a bit more room to breathe. From an investment point of view, there is zero attraction in a country like Nigeria where people simply cannot pay the price of the product you want to sell to them.

The only person who could commit $20 billion to such a safari in Nigeria is Dangote and he has done so. But the hard facts are the hard facts.

The sooner the Nigerian government and Dangote sit down together (they are still best buddies after all) and map an export strategy for the refinery’s products, the better for everyone involved. Ideally they should leave Nigerians out of their drama since the revealed preference of Nigerians has always been to pay below the market price of refined oil products (regardless of whatever else they say). Dangote can cry all he wants (and I must confess to mildly enjoying his tears), there is really no way to do a cement with a refinery.

The choices, for him and Nigerians, are pretty clear. Turn on the refinery and get the refined products out of Nigeria as fast as possible. As a dearly departed Twitter personality might put it - anything you see, you have to take it like that."

~ Feyi Fawenhinmi

5 Likes 1 Share

European Football (EPL, UEFA, La Liga) / Re: EPL Chatroom - All Discussions by Itzlinda(f): 4:43pm On Jul 21
izzou:


As at the time Dangote bought it, can you pay 850k for a plot, inside the bush?

Na now the place get value. Who was going to buy 1 acre in Lakowe 10 years ago?

It was a good deal, but it wasn't awoof as prosper is painting it.

Ask am. That 850k is like 5 meter now 🤣🤣
European Football (EPL, UEFA, La Liga) / Re: EPL Chatroom - All Discussions by Itzlinda(f): 4:41pm On Jul 21
USAfall2024:


$100m divided by 2635 hectare = $37,950 per hectare or roughly around $3,415 per plot (100FT by 100FT). At the time of the deal (should be later than 2014/15 and a black market exchange rate of $1=250?), that equates around #850K per plot (100FT by 100FT standard plot o). Lagos State Government definitely gave Dangote a good deal for the land because they know the value the refinery will provide for the state in the long run if not, the value of that land is easily 5-10X higher than what Dangote paid.

No bro. That price can't be 5x for a land inside bush. It's good deal tho
Politics / Re: LG Autonomy: Supreme Court decision, an assault on true federalism - James Ibori by Itzlinda(f): 5:47pm On Jul 11
Ojuntana:

How is it a big one? Kindly explain. The LGAs will suddenly start doing great and mighty deeds abi? No looting, structure or godtaherism just pure and unadulterated service to the people abi?

Is that what the states are doing with the local government fund?

2 Likes

Food / Re: Check Out The Tomatoes, Tatashe I Bought From A Trader At Shasha Market In Akure by Itzlinda(f): 12:24pm On Jul 05
OBTOREPA:
The tomatoes is like 40k here in PH

No way. It's tomato season now. You fit buy basket for 10k here in the north

3 Likes 1 Share

Crime / Re: Large Cache Of Arms & Ammunition Intercepted At Onne Port (Pics, Video) by Itzlinda(f): 10:28am On Jun 25
Holyfic:
Righteousness nor go see this talk about o...Dumb fowl grin

Righteousness will die a miserable death
Investment / Re: Crypto Currency Investors Thread by Itzlinda(f): 4:26pm On Jun 21
Fastt:
If you are afraid of opening your app, that's when you should be buying. If you are constantly refreshing your app, and seeing your profits jumping, that's when you should be taking profit. This is a psychological game. That's why e better to know your sh1tcoin well to see if you gonna stay with it during the downturn seasons. I no dey buy coin wey I no fit double down, I no dey buy when every one here dey jolly. It's the game, not everyone will make money. Sadly,This is a wild life here. Kill or to be killed. Luckily we can come back to life after being killed. How do you protect yourself in your next life? wink

I love this. Never looked at it from this angle. When you are depressed to check your app, that's when you should be buying

1 Like

Technology Market / Re: Clean Elitebook G5, Core I5 8thgen, 12gb Ram, 256 Ssd @250k by Itzlinda(f): 9:14pm On Jun 17
How many hours battery
Business / Re: Look At 80k Ram In Orange Market Nassarawa by Itzlinda(f): 7:02pm On Jun 14
iLegendd:
In summary, all the Northerners that come to the South for red oil, crude oil business, buying of inexpensive shoes, etc. should stop?

I support your idea of everyone growing their food and yes, everyone does. The reason the South goes to the North for extra food is not because they don't have, but they have too many eateries, hotels, businesses, events that lots of food is involved, etc. way MORE than the North.

Even without the South, the North will not lack fuel. There will always be a way. Also, even without the North, the South will not lack food, there will always be a way. In fact, that is what we want so that every region can be more independent and creative. Think about it.


Can you produce millet, maize, tomato in the south?
Politics / Re: How FIRS, Customs, NUPRC Received More Allocation Than States – Agora Policy by Itzlinda(f): 9:43am On Jun 12
elrufiason:

Dear amiableMosquito your comment is laced with wisdom, but did you ever stop to consider that their allocation is bigger that 5, 6, 7 to 10 states combined.
I fact why does custom has a much higher allocation than the police and army?

No customs doesn't have much allocation than army. Go and check how much is defence budget.
Computers / Re: Elite Book 8gen Core I7 For Sale by Itzlinda(f): 12:28am On Jun 10
Drop your number
Computers / Re: Elite Book 8gen Core I7 For Sale by Itzlinda(f): 11:33pm On Jun 06
How much
Technology Market / Re: Dell Latitude 7390 2-in-1 Laptop For Sale by Itzlinda(f): 4:18pm On May 31
shrek4:
Still available

Never say never boss. Let me message you
Technology Market / Re: Dell Latitude 7390 2-in-1 Laptop For Sale by Itzlinda(f): 1:13am On May 31
300k?

400k is a price for USA used one. We can do 300k if you are game
Jobs/Vacancies / Re: Monthly Net Salary Of Federal Government Ministries,departaments, Agencies And P by Itzlinda(f): 2:54pm On May 26
Mohisah:
Revenue generating agencies?

No. Revenue agencies are paid cost of collection.
Jobs/Vacancies / Re: Monthly Net Salary Of Federal Government Ministries,departaments, Agencies And P by Itzlinda(f): 12:24pm On May 26
Mohisah:
Believe what Zaramite said to be true.
But, u believe in increase of salary if any CEO tender such request?

Many ceo/mds have been fighting to increase their staff salary with no success
Jobs/Vacancies / Re: Monthly Net Salary Of Federal Government Ministries,departaments, Agencies And P by Itzlinda(f): 12:24am On May 26
ZARAMITE:

He has already reduced it.

Lol in this era of inflation when others are increasing theirs. Firs salary will be same with prison service be thst

1 Like 1 Share

Technology Market / Re: XPS 13 by Itzlinda(f): 4:29pm On May 24
Drop phone number
Technology Market / Re: All Offerup, Letgo, Craigslist, 5miles, Ebay, Amazon Deals.*READ FIRST PAGE* by Itzlinda(f): 12:35pm On May 23
Weirdoo:


Available

Price negotiable?

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