₦airaland Forum

Locals are the one running targeted kidnapping.
While bandits are in charge of highway and mass kidnapping.

nairalanda1:
What i am ultimately telling you is that Nigeria is running a resource dependent economy that is good when oil prices rise and bad when they aren't

But you and your apc and pdp geng are only interested in defending your side.

Good evening. Sad to see that you guys cannot separate politcs from econonics.

And yes, i dont support your pdp and their apc. A pox on both their houses.

And I say you are wrong in every aspect.
Any idiot can actually perform wonders when the goings are good.
Great managers are not those who finds it easy when things easy, it is those who can navigate tough situations.

I see that you sidestepped all my points and went for a non-issue(politics) which I never focused on.
Those in charge from 1999 to 2007 weren't alien or ghost and we were running an even more
resource based economy then than now.

You see, none of your excuses are economic destiny set in stone.
Government decisions which you think are irrelevant matters.

SeeWahala:
When last I checked, zamfara state goverment controlled its gold resources

So your point again was . . . ?

Zamfara does not control its gold.
If it does, it would reflect in its budget.
What we currently have across the country is private companies given mining license by the Federal government.
No state is treated differently.

Victory662:
Why do Nigeria presidents like to travel abroad and rest? Was there ever a time a foreign president rested in Nigeria?
Shame on all Nigerian leaders

No Nigeria leaders travels abroad to rest.
If it is not official visit, then it is for checkup/treatment.

Dumbass Onanuga at it again.
What's our business with SA?

Let me even indulge him.
Did SA kidnapping rate increased by 1000% within the last 8 years ?
Do mass abductors go scot-free to enjoy their loot in SA?
What parts of SA is in total/partial control of armed bandits?
Do SA violent criminal gangs post themselves committing crime online
because they fear no consequence from the state?

Go treat your malaria.

nairalanda1:
As at JUne 2023, 90% of our revenue were going to debt servicing...because oil prices had been so low (at one time below 20 dollars per barrel), that we had to take loans to survive. ANd the loans had to be paid back.

Le us be sincere, the foreign loans we took has nothing to do with survival.
Most of the money were splashed on vainglorious projects such as rail lines which can't only pay for itself
but its maintenance is gulping a significant chunk of our yearly budget.

I remember the textbook argument that our "debt to GDP is the lowest in Africa" constantly being used to justify more loans
even though the government had no other means of paying back aside from oil proceeds.

In 2014, oil prices crashed. That meant that we started spending large sums of our reserve on keeping up the naira. At the same time we started borrowing to keep our heads above water. Started with PDP, continued with APC.

What's funny is that we built more forex reserves when oil prices were average between 1999 to 2007 compared to today.
And the lowest price of the so-called 2014 crash is higher than the average oil price from 1999 to 2005.

BTW, borrowing didn't start with PDP, all Nigeria's government from independence borrowed.
What matters is the scale of borrowing compared to revenue and whether the borrowed funds
are essential or would not become future liabilities.

What you are doing is excusing incompetent admins using simplistic textbook economics.
We cannot dig ourself out of a hole by digging further. Imagine if these guys were in charge 1999 to 2007,
Nigerians would have gone through hell during the 2008 crisis. And they will have a ready textbook excuse
that it is not their fault but the crash and low oil prices.

Till date, the CBN has not given a report on the expected gain of floating the Naira.
That is, the massive increase in FX inflow.

The fact is that the government took the easiest way out by eroding the populace purchasing
power while patting itself on the back for "saving" trillions.

This is the largest wealth transfer from the poor to the government. Yes, the rich are not as exposed
to Naira cash instability as the poor.

There are countries that are neither resource rich nor manufacturing houses but still has more
stable currencies than Nigeria.
How did they manage this? By spending within their limits.

If the government really believes it is in a dire strait, it will impose austerity measures on itself even for symbolic purpose only
but what do we have? Their spending and profligacy has been increasing year in year out since the 2014 crash occurred.
This is not the people you make excuses for.

Jobless man.
Tell us how much it costs to eat 2 eba, 1 meat, 1 ponmo and 1 pure water in 2007.
Nigerians started caring about the dollar when Naira began sinking at a quick rate.

christejames:
Go read about Didache and how the early Christians were holding forte.

You insulted Nigerians and Africans yet you can't point out just one country or continent which is doing better.
The best you can do is refer to some people who lived millennia's ago.
Now, tell what is the point of singling out Africans?

Aside giving the rapist life imprisonment.
The movie producer and director should be sanctioned for leaving a minor unattended/ unsupervised.

christejames:
He wants to cash in on the gullibility of an average Nigerian
The way we practice Christianity in Nigeria and Africa is way too abnormal, if nothing tangid is done about it, Christianity may cease to exist in no distant time. We overly 'mock' God here thinking we are being 'called'... Strong case of hallucinations.

So, who are those who practise christianity the right way?

tollyboy5:
Once you have money, you'll have access to better things and facility and your method of reasoning will be different from those that don't have

This is wrong.
Money only amplifies what you already have, it doesn't change your reasoning.
Neither does it improve cognitive capacity.

2mch:
They need to pass a law making BDC’s and other currency speculators illegal. Only banks at official rate can and should issue exchange.

There is no official rate!

Otherwise they are just t playing here. Also, platforms that have made money through such sabotage should be raided and their money confiscated for sabotage. You can’t try this in any first world country, speculate against their currency and go free. They will cripple you to the 10th generation and you will spend a long time in prison.

Trading currency is not illegal.
BTW, you seems to think you can bully the economy into submission.
Not even North Koreas absolute leader can achieve such feat.
At best you celebrate for a few days/weeks and the market will adjust itself with ferocious consequence.

tollyboy5:
Lagosians are in a higher level of consciousness, Nigeria is pushing Lagos backward.

Lagos, Ogun then Oyo are trying to follow through an awoken consciousness

See this one.
We are talking money, he is talking consciousness.

babayinka77:
Not everything must be criticised. It is a good news and this will foster development in the communities along the various Train Stations that would be revamped in the process. There would be challenges no doubt, but that should not be the reason why we should not strive to develop as a nation.

How many people can afford air travel in the country? the other best alternative for us is to travel by rail. May God make it a reality soon.

That is not a criticism but a warning even though overblown.
The fact remains that sustainable development is impossible without decent security.
Security doesn't mean no crime but that there are consequences for majority of the violent criminals.
Unfortunately, the forest-based kidnappers are immune from consequences.

smudge2079:
This na rubbish abeg. As dem dey talk to demselves now, weytin we wan use am do? these people have a way of wasting funds.

You shouldn't have made this comment.

Babaken:
The Western counties will not allow that never.
Just look at the Eco currency they are proposing how many years now .

Yeah, as usual, blame the west for your failure.
Even inside Nigeria, we have people who are opposed to free movement
and they are not the west.

nograv:
Indeed they are starting from a low base, but the question is why did this change occur? The catalyst was extricating the last vestiges of French rule, something you clearly don't wish to acknowledge.

I know for a fact that the bold is wrong given Niger's pre-coup economy growth but I will give you the benefit of the doubt.
Provide a reliable source for your claim.

Also your pointless explanation makes little sense, because yesterday's laggards can become tomorrow's champions. E.G. South Korea had a much lower GDP per capita compared to Ghana and Nigeria at independence. Where is South Korea today, it is in effect a developed nation, Nigeria and Ghana? we both know where they are..

My explanation is very much relevant to puncture the illogical pro-coup propaganda.
This is not a matter of laggards or toppers.
It is simple maths.
South Korea has moved from bottom to top and not from bottom to bottom.
South Korea was actually doing something different post civil war.
Niger is doing absolutely nothing different than extraction and selling.

Likewise Today's champion can be tomorrow's loser.Like Argentina which had a larger economy than France at the beginning of the 20th century and now is the byword for economic failure/decline.

This is irrelevant, economics does not work based on hope, miracles or prayers.
The only thing close to a miracle is new discovery of a massive source of natural resources.
I don't recall any of these coup countries making such discoveries.
In national economics, if you produce, you wallow in poverty, it is that simple.

Tinubu could have ridden the crest of wave, joining arms with neighbouring countries that were freeing themselves and experiencing vast economic gains as a result.

I can now see that you are discussing completely outside of your knowledge.
What vast economic gains? Increased employment? Increased productivity, net positive BOP, massive budget increase?
What exactly? Provide the before and after coup numbers and you will be sorely disappointed.

Oh you think growth rate is the magic word.
Well, go and check all the numbers that matters e.g GDP per capita if you know what they mean.
Nigeria is at least 3 times richer than any of your supposed perfect countries and has even improved over them post-coup.
Do you think economics is like protesting in the street riding on current political wave?

Instead the Agbero did what an Agbero does and slavishly followed marching orders given to him by the west..

Now I have educated you go and rethink the nonsense you just posted..

No, you are extremely ignorant on economic issues.
I am surprised an educated person could knowingly weave fiction into economics.
You just hear "growth rate" and you went gaga without understanding what it means.
None of the coup countries are any significantly better economically than they were before coup.

I have told you what it takes to actually improve the economy of a nation.
Being rhetorically "free" whatever that means is not part of it.
Increase production/services or discover natural resources. Outside of that, no magic involved.

abhosts:
The CBN gave tens of billions of dollars to dangote at cheap official rate with the expectation that it would save the country foreign exchange in return. If dangote wanted to import crude at global prices to for his refinery, he should have built the refinery with funds from oversees investors and not with cheap CBN dollars.

There is nothing like cheap CBN dollars.
Dangote applied for forex just like any business or oversee students at the time and got it.
He wasn't given for free.

Who are the fools who compiled this list.
Both Nigeria and Pakistan are currently going through severe economic challenges.
That should tell the average person the whole truth.

Nigeria is cheap for foreign earners but not for the residents/local earners.

rowland545:
This is huge if true....i have always believed the police are better at handling the security of this country than d military....
Since they became involved things have turned from bad to worst

See this one.
He didn't even asked for details he just jumped into conclusion.
Any policeman who confronts bandits is very close to his grave.

No wonder you guys are attacking the deputy left and right.
Well, Aketi's anointing have expired, you are now on your own.

Northernblood7:

So Nigerians will be the ones suffering for other countries abi? Dangote buys crude oil in USD causing our currency to depreciate less than our neighbours. Neighbouring countries will then cross over to Nigeria and import our very cheap oil to them due to high currency value they have over Naira. Last last, Nigerians suffer the most.

There is no cheap oil anywhere except countries on sanction such as Russia and Iran.

Neighbouring countries will buy at the same rate any other country will buy, not cheap, not expensive.
Nigeria has no cheap oil, if it does, Dangote won't bother importing from the US.
The strength or weakness of a country's currency has nothing to do with it.
Whether your currency is USD or Chinese Yuan, you will buy at the same rate. That is production cost+ profit.

Stop commenting on what you don't understand!

nograv:
All three nations are in the process of throwing off the last vestiges of French rule. Niger for example has rocketed to being one of the fasting growing economies in the world this year.

Your inference is wrong.
Fastest growing means nothing when you move from bottom to bottom.
If person A's salary is increased from 100 to 130, that's a 30% increase.
But if person B's salary is increased from 10 to 30, that's a 300% increase.
It doesn't mean person B is better off than person A.

AnyanwuSilas:
I know, you're still wrong

You don't know.
Don't argue in ignorance.

AnyanwuSilas:
suspension is not sinonymous with sack.

Its an analogy.

Those are all good but there is one you relegate.
Citizens ethics.
No system can survive when the majority doesn't want it.

Nataliace:
The worst is that the girl in the neighborhood is now living with him sleeping in our Matrimonial bed doing all the house chores and taking my children to school.

I came back and apologized to my husband but he said it's over between us. I love my husband so much that I can't afford to lose him. What should I have done? I expressed my grief of being hurt but it bounced back negatively.

Please advise me on how to restore my marriage.

Do you still love your cheating husband or the comfort that he provides?
Since you left, we can assume you have some principle and dignity.
But by going back to beg, you have become useless to him.

Even if he accepts you back, he will see you as nothing but a domestic maid.
Be ready to prepare meals when he brings his girlfriends home.

The marriage that you desire is gone forever.
But if you really really want to restore your "marriage". You have to promise
him never to complain about his cheating ways again even he bring girls home.
You may also have to accept the neighbor as the first wife and you the second.
If you promise to do that he may reconsider you.

You did not mention whether you have a job.
Those could also count.

If you have any dignity left, never ever go back.

Beigalodesigns:
It's already out there Trump is winning the election, this Biden guy is just as weak as all the president APC has been forcing on Nigerians

It is not out there.
America of 2016 is very different from 2024.
And Biden is not Hillary.

Alright.
Come back and give your testimony again in 2 months time.

Sleekfingers:
🤣🤣🤣🤣🤣

Even the Mafia manager too na entertainment book abi?


Desmond Elliot come and see one of your children oooo

It is very hard for kids like you to differentiate fiction from reality.
48 laws of power is nothing but entertainment.
I concede that it is also the mediocre's fantasy of how the powerful operate.
I bet you felt smart after reading the book.

I pity Iran, they may end up electing Trump their nemesis.
The more they attack, the more Biden is seen as weak.