Paraman:
Most of the people always buying dollar from Aboki buy and keep at home.

Nope.
You obviously don't understand foreign currency market.

Very very few people buy dollar from Aboki to keep at home.
The major buyers are importers.

Speculators dominate the news but make a tiny percentage of the forex market players.

Princedapace:


Which kind country be this? So, women cant take care of them selves?

Did you even read the news?

You mean women should take care of jointly made children while
the men roam about spending on clubs and hookup babes?

If you don't want to care for children, don't have kids.

Many bubbles will bursts the day Nigeria enacts a proper and mandatory childcare regardless of marital status.
Currently, some baby fathers have to be begged via uncles and their parents before they give a dime.
Some even punish their "disobedient" baby mamas by witholding the children school fees and brag about it.


Before you talk about being "trapped" with pregnancy, you are only justified in 2 scenarios.
The first is rape and the other is that you are so mentally slow that you don't know that what you engaged
in can lead to pregnancy.

@Minsk24
There is absolutely no legal woes for Trump.
What we have now is just a distraction, probably pre-planned.

You are obviously not a typical democratic voter.
May be you just support some democrats policies or are democrat at state level.
Trump is a poison to the average democratic voters.


If Trump won't be the one on the ballot, I would have ruled Biden out since 1 year ago.
Forget memory lapse and the rest.
Biden is no Hillary who elicit deep personal hatred from some quarters.
And this is not 2016 where some people got swayed by the talker, he already played his cards.

drlateef:

Calculate how much you spend on fuel for generator for one year and it will be more than solar bill.

Old news.
Many people have parked their generators and the nights have become quieter.
Making a lump 500K investment is entirely different from buying 2K fuel today, 5K fuel tomorrow.

There is a solution to that loans... which I won't like to get into now.

It is not about sense, it is about financial capacity.

1. Proposal one is a waste of money for government and waste of time for citizens unless we can do online for those who already registered.
It will simply discourage existing voters.

2. This will only increase electoral violence as no candidates are under spotlight. Off-cycle elections are less violence-prone on average to full elections. It will also increase the bandwagon effect that the lawmaker is trying to fight. Incompetent candidates will simply get elected because another popular candidate is on the ballot for a different position.
A better proposal is to hold the governorship elections first, then presidential to follow. In that way, the bandwagon effects will be removed.

3. This one makes sense but it achieves nothing if it doesn't recognise online collation. So after transmission, then what?

4. Make sense.

My proposal 5. It is time to prune our political parties by deregistering parties with less than 10M members in national elections and 5% of states population in local ones. Or political parties should pay substantial application fees to be featured on ballots to prevent wastage from printing of mushroom party logos.

Inspirer1:

That's what they intend to achieve

We can't achieve that with decrees alone especially when swimming in foreign debt.

RepoMan007:
people will simple intercept the forex inflow at a better rate through social media. That way a new black market is borne again and the rates may reach N2500 for a USD then.

That already exists in various forms from online currency exchangers to IMTOs.
But only the informed and financially literates can use such method.
So, the CBN will gain from those uncles and parents receiving money from their
relatives while losing out from the tech-savvy younger receivers.

So, it boils down to who receives forex inflow the most, the old or new generation.

May be counterproductive in the long run unless the official and parallel rates
is unified.

Raylight2:


For that, there's not suitable substitute that'd suffice for now. Kenya banned the use of nylons but they have alternative biodegradable bags.

Does Kenyans have exclusive non-export rights to the biodegradable bags?

Ttalk:


You are missing the point

He is partly right, the policy will only affect financial illiterates and subsistence dollar holders
who don't know their way around.
Decrees can't force economic outcomes.

Don't get me wrong, this policy will indeed reduce the activities in the physical parallel market for sure
but the next question to ask is whether it will increase or decrease forex inflow.

khattab02:
what I understand. First, the federal government in the last 6 months have made policies and decisions that has affected the economy negatively and things have gone worse. But the producers and middle men tend to use this federal decisions and policies to make more artificial gains at the expense of the poor masses.

I think the FG just fold it hands and allow anything to be. Hence prices increased anyhow as if we don't have a regulatory body again.

Take a look at Rice that is produced locally?

What of oil? Both vegetable and cooking oil?

Beans? Garri nko?? Garri wey used to be common and cheapest.

This Government and administration has failed us!

I am an advocate of time, but in the passage of time things got worse in your hands, u are on the path of failure already.

You didn't explain how the order can be enforced.

The fact that something is produced locally can't negate economic realities
when the price of a major part of production, energy was tippled.

BTW, who are those you think are making artificial gains?

magoo10:
Where are those quack accountants that said borrowing is normal ,they even went ahead to compare Nigeria with other developed nations that borrow.
You have oil but because you borrow too much to fund corruption and embezzlement the oil looks useless today as it is used to pay for the recklessness of yesterday

So you also remembered they told us that our debt to GDP ratio is the lowest in the world bla bla bla.
When we complain that we have no means of paying back those wasteful foreign loans, then
they will start quoting how America is owing.
They forgot that America is a highly productive country and majority of its debt are internal.
Even at that there are many anti-deficit political groups in the same America.

Okay

MrProlific95:
How many kilogram can 10million naira buy?

Don't waste your money.
If it ever gets to a level that the average person needs gold, then all your gold will be seized.

Beuberry:

They ll come for him when he least expected. You don't just make mouth anyhow in this perilous times. This yahoo boy looking king no get brain.

You think kidnappers are interested in who makes mouth?
You must think they are foolish street gangs fighting for supremacy.
They are in it for money and will avoid risky adventures.

G00dharddick:
I'm sure the kidnappers heard this loud and clear and they'll act accordingly!

This clown is their next target

This one thinks kidnappers are emotional crybabies.
No criminal will see an easy target and go after the risky one.

Unenforceable order.
What does the judge mean by "fix price of goods"?

Facebook or Twitter are not reputable source of news.
Not every criminal arrested is a kidnapper.

nairalanda1:



Yes but he criticises goverment inability to make more money, corruption and incompetence.

Yes, he does that in another universe billions of light years away.
But here, je os patently anti=public.
He believes all administrations are the same and can't be blamed for national
economic outcomes.

When politicians borrows or spend lavishly, he is mute but he is quick to defend cuts to citizens directed public spending
because "we can't afford it" or "the government has no choice but to..." .
He believes all economic crisis stems from subsidies. And government policies and plans
has no effect on economic outcomes outside of implementing or cutting subsidies.

He is also amused at the number of people with nests on der cranium...

Yes, there have always been people like that.
For example the pseudo-intellectuals who quoted malthusian theory to rail against intervention(i.e subsidies)
during the Irish famine.

Agboriotejoye:

Well, folks like nairalanda1 argue that subsidies are bad for the economy and free market will cure all that ails us.

He is a selective free-market proponent.
He never ever criticises government spending no matter how outrageous or wasteful unless the masses are the beneficiary.
He is essentially anti-subsidy for the citizens only.

Meanwhile at the base of free markets practiced by countries like USA is a large dose of socialism that exists in their agric sector. Why should poultry feed be so expensive for example when we grow maize?
It is true that Nigeria does not have comparative advantage in most agricultural products especially the exportable ones, but it is also true that the single achievement any govt can have that will set us on the road to economic prosperity is to achieve food security. If we can achieve that, our economy will have enough bounce to make further heights. A hungry man nor dey see road

You are right.
True free market is impractical.
It is a recipe for an unstable society.

RenaissanceGuy:
You're very amusing. Do you really the worth of agriculture at all? The number of agricultural employees in China is more than Nigeria's total population — 229million people. China's total agricultural value alone stands at around $1.2 trillion whereas Nigeria's oil revenue doesn't even come close to $50B. Please say what you said again, if you still can.

I think some of you can't tell the difference between numbers and rates or are deliberately
sidestepping it.
It doesn't matter if China's agriculture value is 1000 gazillion dollars.

When you are asked what is the percentage contribution of agric to Chinese economy,
it is still 7% !
Guess Nigeria's ratio is?

Also, did you know that Nigeria's oil revenue does not also come close to Chinese manufacturing?
But it is irrelevant to the issue being discussed.

China has 229 million agricultural workers, 25% of its population, and I can tell you it is not a position that China wants to maintain.
It used to have more than 70% of its people in agriculture and guess what its economy looks like at that time, it was famine everywhere.
You see big agricultural numbers is not something to brag about but to plan against.
It signifies low productivity and poverty.

Agboriotejoye:

I don't see how your response negates mine.
Agriculture contributes less than 2% to the Dutch economy, that is a fact.
Did you find anything contrary.

We are talking rates and ratios, not raw numbers.
My points stands that large agricultural contribution denotes poverty.
I haven't found an exception yet.

RepoMan007:
I am sure Netherlands is poverty stricken in your eyes also.

Agriculture contributes 1.5% , yes, less than 2% to Netherlands economy.
Is that what you call dependence?

When we tell you guys to stop listening to political jobbers, you won't agree.

Just compare Nigeria vs Netherland's economic dependence on Agriculture and it will
clear your doubt.

Fineman2:
some are set up

Do you mean they didn't commit the crimes or they think they didn't commit the crimes?

If it is the former, then when was the last time you publicly defend arrested armed robbers or kidnappers
since we know that some of them are "set up"?

Fineman2:
So many powerful men have gone down because of women, even right from the ancient times.

So many criminals have gone down for committing crimes.

Agboriotejoye:

That's not true. Netherlands, Norway, even China, Thailand, Philippines and a host of other countries are agric-dependent and they are doing well
Let me add Singapore too

You are wrong here.
Agriculture contributes less than 10% of those countries economy,
Norway is even less than 2%.

BTW, Thailand and Philipines doesn't belong to that list. They are not rich
but still my points applies to them.
Large contribution from agriculture denotes poverty.

They are so confident of posting their pictures online because they know that
the government dare not come after them.

RepoMan007:
and where is the forex to do that?
You have jobless youths, fertile land and Hungry mouths but want to conjure dollar out of thin air to be importing food. Are you normal at all?

Forex is not some trophy to be kept in a museum.
It is just like any other tool of trade. There is always forex as long as you can afford the rate.

And what are you going to do about the jobless youths, force them into farms and pay them food wages?
Yes, we have to worry about food security, but this is the 21st century, and agriculture is no longer a major employer.

Show me a country whose economy depends on agriculture and I will show you a poverty-stricken country.

ElSudani:


God bless you.

"Not engaging in food production at scale is a luxury for countries that produce IPhones trains automobiles etc"


Incidentally these countries are also some of the largest producers of food for their domestic market.
We need to mechanize agriculture in Nigeria and take it more seriously.
There's no developed country that is not also very strong in Agriculture, even Japan.

Do you know how much those countries spends yearly to subsidise the agricultural sector?
Moreover, no country in modern times has ever grown rich from farming.

Some think people just abandon farming for no reason.
That never happens, wherever there is money to be made, there will be large influx of players.

The government must provide massive agriculture subsidies to encourage industrial farming
since many players have concluded that it is not worth their time.
The government has to decide whether spending such money will be better for the country.

You guys are merely focusing on the symptoms instead of the root cause.
We can't blackmail basic economic decisions.

Ok.
So, how much of that money came from government's pockets?