₦airaland Forum

Destined2win:
To me this is not news

At all.

MzPecs:
Seriously, buhary is the true definition of badluck in this country.

...and that's how I wanted to buy golden penny spaghetti yesterday and I was told it's now N140. Damn!

Na Buhari dey sell golden penny spaghetti?

Does Ifeanyi Uba wants to mint "fake" dollars?

Na how much this cake cost in Zimbabwean dollars? one trillion quintillion zillion.

For now, yes.

Since he in space, that means that he is nearer to God than us all on earth. He should just pray, even if he whispers, God will hear.

The only thing real in Nigeria is the COMEDY.

UrennaNkoli:
Between this young boy and olajumoke, I dont know who rode on the saddle of luck more.

If you know what this king has achieved at a young age, even before becoming a king, you won't talk like this.

Old story, tell us something new.

Obiagelli:
Thanks for this explanation, one more question, now that it is said that we actually do have enough dollars anyways, we are stuck for the long haul

Sadly so if any of these 3 scenarios don't happen.
1. OIL PRICE IMPROVING SOON.
2. EXPORT PROMOTION DRIVE- look at alternative means to raise FOREX through export of non oil commodities.
3. IMPORT SUBSTITUTION DRIVE- Find local alternative to those items we import with scarce FOREX. Let us produce what we consume and consume what we produce. When this happens, our currency will be insulated from risks arising from mono export economy we practice now. There will be no need to source for scarce FOREX to purchase basic goods save for essential raw materials and machineries we don't produce here.

Firefire:
It resultant effect is now what we see in the extreme scarcity of USD, now at 391/$.

NOT SOLELY. It would still have gotten to this level still.

Obiagelli:
Interesting, is it a case the CBN not having dollars or CBN restricting circulation as a policy

The CBN not having ENOUGH dollars to go round. The 'little dollars' is rationed to areas vital to stimulate economic growth.

SirShymexx:
Lol. The question just doesn't make any sense whatsoever, since there's already a restrictive policy on FOREX in place, with a fixed artificial value for exchange rate. Flooding the country with dollars will just show that the CBN is clueless and it'll most likely lead to hyper-inflation.

I think a lot of folks don't understand how messed up the Nigerian economy is right now, especially with how depleted the foreign reserves are. The depletion of the foreign reserves takes away the "shock-absorber" that would've been used to negate the effects of the falling oil prices, since oil is the nucleus of the Nigerian economy, and everything else revolves around it.

The best thing to do is to ride it out, while the CBN keeps the artificial exchange rate, pending when the other sectors, can start thriving independently without oil. Thus making it a blessing in disguise. Or pray for the holy grail: the holy grail right now is for a major war to kick off in the middle east, perhaps, with Saudi Arabia and Turkey invading Syria, or any type of madness, that'll drive oil prices up. Apart from that: it's going to be a long hot summer.

This is a test for Buhari since he campaigned about change. If he can pull it off and use this to diversify the naija economy. Then he'll write his name in gold. But I won't bet on that. Or this might be the beginning of the implosion certain folks have been waiting for to balkanise the country. This is just the beginning of a long walk in the serengeti.

Shalom.

I doff my hat for you. You have stated it the way it is. I have turned to unofficial government spokesman trying to explain this whole dollars "wahala" to some 'beer parlour' folks over here.
We wait, we hope, we conquer.

Firefire:
You imagine, the same CBN policy earlier placed an embargo on $ deposit.

I was trying to understand the rationale behind that decision. I think it was misplaced. A mistake they realised and I think they have corrected but not without it's resultant effects.

Obiagelli:
Do we earn oil money in naira?

The 'little' dollars earned is rationed to cater for the importation of essential commodities like medicines, raw materials and machinery at the official CBN rates are to stimulate local manufacturing and production. That is why some finished goods that can be produced locally were removed from "VALID FOR FOREX" list. Sourcing FOREX for their importation will have to be through BDC and the parallel market. There is no enough dollars to sell to the BDCs.
Look at this scenario, if the CBN sells out all the dollars in it's reserves to the BDC, where will they get dollars to sell to genuine importers of essential items like medicines and raw materials?
There is too much naira chasing scare dollars in the hands of the BDCs, hence the steady rise in the price of the dollars.

santos247:
Let Jonathan and his co-travellers go and sit down. They brought our nation to its knees by what they did and what they failed to do. If we had built our reserves during rainy days, we would be able to insulate against the dwindling prices of crude in the world market. THose who claim Buhari and the CBN are wrong, i dare ask...What alternative policies do they suggest
As a lay man, i have considered this:
Devaluation of naira: Genuine importers of raw materials will buy dollar at 350-400 naira, price of their finished good will increase. Purchasing power of everyone will drop. including the masses who dont deal with forex, BDC etc.

What is the proportion of Nigerians that is affected by 1 dollar = 350 naira today compared to when naira is devaluated??
With the current regime, Every demand for forex outside genuine importers of raw matertials buy at black market (including those of us who buy cloths from Aliexpress, ebay etc..), including those who enjoy luxurious Dubai travels. Does the current regime affect Mr Salako who eats Garri (ijebu), Tomatoe (Kano), Onion (Sokoto), and Beans (Adamawa) and palm oil (Ondo) Does it affect the cost of taking the average civil servant from his house to work Does it affect the cost of buying 1 bag of Dangote cement to continue his 2 bedroom bungallow
Am sure tie and dye from Abeokuta or Aba made Jeans shoudnt be affected. So who are the real victims of this current regime of FX over-demand in the market?? My lay man perspective you may say.........

You have spoken truthfully. We will now be forced to look inward, consume locally produced goods, seek to produce for export to earn FOREX. Those that are wise will transition from extractive to processing industry.

Arch1:
I love young and dynamic monarchs like : Oba Saheed Elegushi of Ajah, Lagos; Oba Enitan Adeyeye Ogunwusi of Ife, Osun; and Emir Mohamed Sanusi of Kano. These are the kind of traditional leaders that we need

We Yorubas do say "Aruugbo Se oge ri" ~ "Even the Old were once youths"

yemi16:
I courted her for about 1yr..before we got married 6months ago..
Meanwhile while courting, she had told me she left her former relationship because the guy she dated then was like the breadwinner to his family catering for all his siblings and she felt quite uncomfortable with it....

I didnt read much to it coz in my mind it happended to my favour and i already have a well to-do siblings...as at my courtship period though...

Shortly before we got married, my elder brother who also just had a baby lost his job....and i had to support him and his family on a need basis especially with their little cute baby boy growing but i noticed my my then fiancee didnt just like it at all....

After we got married....i got a great job with this good pay and was very comfortable....meanwhile my brother search for job was to no avail....and his wife was on maternity leave.

To cut long story short, each time my brother comes to me for help....and i send him money, my wife complains that i larvish my money on my brother...that he should go and get a job and not rely on me always...we would quarrel seriously for days/weeks before time eventually settles things...

Just last few days ago....we were relocating to a new area within town and i called my brother to pick up a few stuffs (electronics, household items) i know i wouldnt or i planned replacing with a new one......He came and picked them up as i had informed him....After he left, my wife let hell loose....she went completely mad and we had a big quareel...she even called my brother to return a few stuffs he took even when i already bought the replacements...

I am used to going back to her to apologize just to let peace reign ...but this time i have had it upto my neck..!!!!...
I dont intend apologizing one bit as i am sure i did her no wrong......

Now i am thinking deeply.....did i really overlooked the signs...?...did i really marry the wrong lady??....

Please i need your advise on how best to manage this...

Admin..pls help to update this on fp..i really need lots of advice at the moment.

Thanks.

@Op, as I was reading this, something tells me that God is blessing you because of your "heart of GIVING" you see, if you stop giving, things may turn out to go all "wrong" for you and she go find her square root when that happens, and that is what the enemies want. Maybe that is her mission in your life.
When the enemies try to get at someone all to no avail, they try to get at the intercessor, pillar of support or back bone of that person so that the main target will become easy picking for the enemy.
You are the pillar of support and backbone to some people that the enemy is not happy about and is trying to destroy the formula of your success which is GIVING.
Just remember that your money is not "your" money, it is to assist and lift others up. I tell you what my pastor do tell me, help and assists both people and the ministry with your substance, it can never run dry. Op give more, challenge God to it , you will discover that your money can NEVER run dry.
Good luck and God bless you.

whiteboyswag:
I don't think so ppl still do business here in SS n SE. Sometime ago I heard it's more expensive to clear a car in onne(rivers) port compared to lagos but why should it be like that is it not govt fee why should it vary.

You asked a question, you were given answers (according to the poster's POV) you said you don't think so. Since you have the answers to the questions yourself, why ask in the first place.

nnokwa042:
u denied Egun people that they not Yoruba but u dey worship kidjo what is kidjo in yoruba?

Angelique Kidjo isn't Egun, she is Fon. Her mother is Yoruba

ThePeacemaker:
Is this woman that good


OUR ASA nko?

No disrespect to others, She is among the best musicians to ever come out of Africa.

safarigirl:
oh please! Whatever happened to artistes like Dare, Simi, Timi Dakolo, Waje, Asa and Bez.....it's not as difficult as you lot like to spread to find quality artistes in Nigeria. If the American White people Grammys have refused to acknowledge them because they only see Angelique, doesn't mean we do crap music. Angelique is the safe choice that they're used to

Save for Wombolombo, Angelique is mostly not on the airwaves, not every white endorsed thing should be worshipped.

You spoke well save for the last paragraph. You should have just said you only like or that you are familiar with "wombolombo" have you listened to her version of "we are only one" (soundtrack to the lion king)? Naima, Angolo Babalawo, Malaika etc? have you ever listened to any of her albums on your headphones all alone then you feel the energy and the spirit if the music move you that people around you be wondering what's wrong with you? She plays music that is ALIVE even if I don't understand what she says except when she adds or sings in English or Yoruba. She has performed with more foreign acts our musicians dream about (don't get me wrong, we have really talented acts here too o) Angelique Kidjo is an enigma. I don't joke with her, YVONNE CHAKA CHAKA and our own CHRISTIE ESSIEN IGBOKWE.

Pavarottii:
Zombie spotted! Where u not aware wen the Governors Forum headed by Ameachi said they should share 10billion dollars of ECA?

And where were you when the Gej led FG was dipping it's hands of illegally into the ECA that belongs to the FG, states and LGs. The illegal withdrawals led to the Governors' clamour for the ECA money to be shared.

Even the master plan of Abuja FCT looks like one giant penis. Just take a google map view of the city from the city gate to the three arms zone.

Haba Linda ! $25k for a bag, do you want to use it to store your treasures in heaven?

This is one area I totally agree with Sen. Bruce. #Support made in Nigeria #buy made in Nigeria #Support Nigeria's growing economy.

@OP, do you bark? do you bite? have you a tail? if yes, then you are. Lol.

Don't worry Senator Ben, we will cancel the NASCO contract and replace it with popcorn from Silverbird Cinemas.

This isn't too bad na! Many places in Lagos and even Abuja are worse than this.