Ola9ja23:
Why not allow IPOBidients to celebrate their bad news for God sake


This is a bad news for enemies of progress

They will tell you that Tinubu has paid them for this news.

money will always come in but is going to mopped by the banks and will not translate to anything. We need sanusi or someone like him to overhaul the banking system. The reason why the dollar is stable is because it has been pegged. If the float it again dollar will climb again.

chocolateme:
I am Chocolateme, been family here for long.

I am a low scale entrepreneur, I make Tigernut juice and Zobo drink. It has been really tough but I am not ever going to give up on anything. I started this business for months now with little or nothing. It is also very stressful but never for me. My slogan has always been "WE MOVE!!"

Last week, I prepared my market as usual, 50 bottles of Tigernut @1200 per bottle. I went to buy iced blocks for preserving it in the cooler.
I don't have a deep freezer so I depend on iced blocks for it daily. There has been serious and epileptic power supply since last year so we don't have light at all.

I got there only to realize that it isn't available, I went to more than 30 locations that morning crying and hoping yet I couldn't find. From Ago Palace way to Surulere searching for iced blocks, can you imagine how bad it was.. I came back 2 hours later, checked my Tiger Nuts to confirm my fear, lo and behold, all 50 bottles have spoilt. I could not hold tears back, thoughts filled my heart, had a tight nut in my throat. Could not focus at all. I was really devastated but We Move!

I am not asking the government for anything except to give us power supply, I have no freezer or generator but I am still fighting to survive, why then will they still want to cripple the small one I am managing?

It is well. Good day family.

how much is the cost of making the 50 bottles?

LocalFARMERS:
This video shows the moment a man was moving a big Truck engine by himself. He works in an Iron metal scrap site.



https://www.youtube.com/watch?v=OntILqCYCXA

this is not healthy. Thats why oyibo use manual handling equipment for this.

Bigsavior:
Good morning, good afternoon, good evening wherever you are my good people.I don’t know if this is the right section to post this , but Pleasei need an urgent advice on these matters. I had an opportunity to travel a year ago but I was really focusing on to get my degree which i was in 300L only had one semester before the opportunity came . So most of my family members have relocated already. The worst finally happened to me last year ending I lost my mom also lost a very good lecturer to me . So now I’m finally done with the school frustration.Since then I have really find it hard but let me not go into that for now . The matter now is my sisters in the Uk 🇬🇧 said the travel protocols now is kinda difficult same thing my brother in the US said he’s really looking for the opportunity to help me but me ‘’ I am sucked I can’t waste my years anymore in Nigeria 🇳🇬 never. I have the token to sponsor myself out of this country. Please guys any good scholarship site or any simple school I can apply I’m fully ready. Also I have some essential skills I acquired. I’m also doing researching on it. Best choice is any English speaking country . Admin pls can you push it front page for me

sorry my brother. You would have escaped when the opportunity to do so came.

homelybabe:

Thanks but my State doesn't do Inter-State transfer

well try and get a job especially govt job in lagos to avoid see finish. Anything that would take you from the house would make your huaband happy. If your hubby set up biz for you, he always be on your matter. So salary employment is okay.

waynetee:
It is very funny, this shows northern politicians are failures.
How can bandits kindnap 300 people at once without transport in a day time and without a trace in a state where there is governors, sensators etc.

If this is not set up by Northern politicians themselves, then they are most useless people i have ever seen . They do not care about their poeple at all, all they care about is CBN branch in Abuja.

Tinubu should be fast about the restructuring so that they will stop seeing people to blame.
If they like, they should invite boko haram and bandits to come and kidnap all of them.

these are criminals. And the northern politicians are hypocritical weak to do anything. You begin to wonder. I mean if the northern politicians cannot fight and protect their people they have no business in governance.

a4cube:
EFCC arrested some 41 trucks of some northern business men exporting to nearby countries. Is their any reason for that? According to the writter, their is no scarcity of produce. Why then is the government not letting producers to export in other to earn the needed fx that will alleviate the situation.
The whole bunch are incompetent as alluded by Ola the writter.

they are not exporting. They were smuggling to earn cfa because of naira devaluation.

StOla:
Interesting read, and valid points made also.

The author while not proposing any solution is acknowledging there are wicked elements whose activities within the value chain of the economy, need to be put under more control.

yes but in every system there are always greedy element. You go after them and not punish people just to kick those greedy elements out of business.

Uchedeformula:
The more I watch Cardoso and Edun struggle to come to grips with the abnormal situation, the more I am convinced they are not the right men for this season.

First, I personally give them their due for at least hustling to find solutions. They are not just staying in their offices, crying or looking at the ceiling to divine answers from the silent ceiling. They are moving and throwing everything they can at the abnormality known as the Nigerian economy.

They have issued over a dozen new policies in less than a year, dropping one Ikoyi-minded policy one after the other at a dizzying pace, and sometimes the new moves contradict the previous ones. They never looked at their surroundings to know they are actually operating in a Fadeyi environment

Still, they keep moving and we have to respect them for that even you who grew up in Fadeyi can see that they are trying to operate with an Ikoyi mindset in the jungles of Fadeyi or the old Ajegunle

I like the economic Siamese Twins of Edun and Cardoso, but with their latest move of raising interest rates—the highest one-time raise Nigeria has ever seen (they raised rates by over 400 basis points!). It is clear they are out of their depth and have not yet understood that they are dealing with a kind of animal nobody taught them about in the Ivy League schools they attended. This is not the economics they were taught in their Kings College days. Nigerian economy is a class in Fadeyi economy now.

Nobody, when I was growing up, had too much money to chase any few goods. So when prices of Mama Ngozi’s Bournivita start going up anyhow, people handle the situation very differently. Instead of talking about theory, the elders of the street will have a meeting with people like “Brother Dada” as we call him ,who is like the wholesale supplier to Mama Ngozi and Mama Ramota to know what the hell is going on and why he is increasing prices anyhow.

If he cannot explain how his cost increased from yesterday to today to make him increase the wholesale price to Mama Ngozi the retailer, anyhow, they will burn down his shop or threaten to deal with his junior brother unless he reverses the price… and more often than not, he will

Someone should tell our economic czars they are not in Ikoyi anymore . They have entered the thickest parts of the Fadeyi jungle and need to wake up and recognize that their comfortable and predictable rules will not work here . Fact is APART FROM OTHER FUNDAMENTAL CAUSES, that I am not delving into in this piece, it’s also obvious some big players are holding all of us to ransom and instead of increasing interest rates, he needs to be getting his big boys with big muscles to go bring them to come and explain to Baba WhatsApp or ‘burn down their houses’ if they are not calming down.

Sure, these nice ajebota cultured guys are making moves, but they are all geared towards a NORMAL economist’s approach to normal economic activities. They see rising prices, so their ajebota brains identify inflation, and according to economic books, they think you cool down inflation by raising interest rates so it can stimulate savings, and reduce spending in the hopes that lesser demand or spending will bring down prices.

In Fadeyi, you don’t see inflation when prices just start rising anyhow, you see a seller about to make you and your children go hungry and you go on the attack against him or start shouting for the whole neighborhood to come and see the nonsense that Mama Ngozi is doing before you burn down her shop . Everyone then get involved and threatens to burn down her shop once it’s clear it’s profiteering going on, until she reduces prices. Problems solved

The posture of the fadeyi economist is different from the ikoyi one. They live in different realities.

Edun and Cardoso must flex their minds to the reality of our system where a few are holding us and the government hostage or leave the govt for baba to activate native-minded uncultured economists from the Fadeyi school of economics. Baba has them plenty too.

So far, all their moves are classic responses for an economy behaving in a normal way. They did not even see that we do not have normal inflation in Nigeria (i.e, too much money chasing too few goods).

In Nigeria, right now, what we have is too little money chasing too few goods and sometimes too little money chasing too much goods. I cannot say it is inflation, and I cannot say it is deflation. It has no name or definition in Harvard economic schools or in Ikoyi club discussions .

The Nigerian economy is sui generis, and it is time our economic leaders threw away their books and looked this thing in the eye and made some out-of-the-box moves to get it under control, or Zimbabwe here we come (sure, tell me that can never happen in Nigeria, you hear?).

How can anyone say we have normal inflation (that is a case of too much money chasing few goods) when salaries have been stagnant for years? Where the money people have to spend today, is LESS than what they had to spend last year. Even youth corpers used to be paid N33k, but most are now being paid N31k, if at all, according to my very recent research. So where is the ‘too much money’ chasing ‘few goods’ coming from for Cardoso to think it’s reducing the purchasing power of the people is what will solve it?

In fact, in some cases, we are having a weird situation of less money chasing MORE goods, but the prices of those goods are not going down according to normal economic imperatives. Instead, the prices keep going up!

My senior brother, Ola, an architect, keeps telling me there is plenty of rice in some place called Ogere or something, and he also mentions a few other places… and insists rice is not scarce. Yet, the price of rice kept going through the roof.

Someone just also said the same thing here, and some of us are jumping on them, but have you gone out to buy rice and didn’t see a bag to buy? So rice is not scarce. Yet the price keeps going up. Totally making nonsense of all the economic books we know.

We witnessed it live a few weeks ago where the CBN ordered ALL banks to sell their dollar reserves in the normal economist expectation that when they dump billions of dollars into the market, it will crash the exchange rate. Yet what happened? Exchange rates actually went up as more dollars entered it! And on The same day too! That is when I started having a headache.

This is not the economy people like Lord Keynes or Lord Malthus have ever seen before writing their economy books that Cardoso is still flipping to find solutions. This is a Fadeyi economy being manipulated by ‘Brother Dada’ and his paddies . It’s time the elders visit them or burn down their shops!

As crazy as it sounds, right before our eyes, our economy is totally defying economic logic. There IS rice everywhere, but the price of rice is rising instead of dropping, even when purchasing power has declined or not increased for most people.

So, a man stands at a store to buy a bag of rice with his N65k that he had that same morning for N64k. Without leaving the place, and without having more money in hand, the market owner answers the phone, then turns to him, and says, ‘the price is now N75k’.

How do you solve that kind of ‘inflation’ problem by increasing interest rates?

Seriously?

How can raising the interest rate even affect the spending power of people who never got bank loans or saved their money in the bank, to begin with? We all know our banks do not lend anyone money unless you know the MD or are a big conglomerate like Dangote, who saves nothing but borrows everything. How will an interest rate increase affect his spending?

It is a totally crazy scenario, and all these Harvard approaches or normal textbook responses are only going to make things worse. Mark my words unless these guys go native and start doing something really mad.

I do not have the answers myself, but I am sure the traditional approach will not work. There is nothing normal or traditional about what we are seeing.

My name is Ope Banwo . I am not an economist but I did grow up in Fadeyi

https://insidebusiness.ng/213543/edun-and-cardoso-ikoyi-bred-economists-trying-to-operate-fadeyi-economy/

bring back subsidy thats all. Subsidy is the lifeblood of the nation. Price increase is protectionary by the sellers from the harsh business climate. Soften the climate and prices come down.

homelybabe:

Thanks a lot for the advice. The money isn't up to 70k. I'm still in level 8

find a way and transfer your service to lagos. Dont listen to anybody telling you to resign and relocate without any job waiting for you.

homelybabe:
Plz I need your advice folks.
I'm newly married. Before I married,I got a government teaching job in the east. My husband stays in Lagos but I stay in one of the states in the east. We got married in January this year and since then it's been difficult for us because of the distance. My husband is doing a good job in Lagos. I'm just afraid of relocating and staying idle at home,coupled with the fear of losing a government job that is pensionable. My friends and colleagues advised me to continue with my work and visit him during the holidays but some advised against such. I'm in a tight spot right now and don't want to take a decision I will end up regretting tomorrow. Please,your opinions are needed. Thanks.

before you relocate get a job in lagos, if not there would be problems. Use this time to apply and secure a job in lagos your husbands job not withstanding.

cbn4main:
Elders in the house,
I don tire to do these civil service interviews. So far more than 6 done ( I got on 2 reserve lists for EO and HEO roles).

What exactly do they really want? How can I secure an offer? What should I do differently?

I speak quite well and confidently during interviews. I structure my answers to the behavioural and strength questions quite well.

I will appreciate any word of advice 🙏

many interviews mean one thing. You are about to get the job.

yarimo:
The governor that understand what is good governernce, unlike that dubious man in ABIA STATE

you will earn more on twitter trolling than on nairaland.

press9jatv:
you hate Alex Otti of Lp no be small

he is a troll. Dont take him serious.

onthehill:

https://www.youtube.com/watch?v=gTzhovyT8Ng?si=JFMGElCbwvX9dcLl

the mistakes of politicians paid for by heavily divided mases.

Jogs1900:
I hope they are yet to disburse the loan..
Heard that Tony Elumelu got forty billion naira from UBA and it has turned to bad debt..Very soon, the bank will write it off while Tony is balling.
Fraud in the banking industry is just too much.

the banking system in nigeria is terrible. I wish sanusi will come back.

thesicilian:
At the top it's man know man.
All these submit 1 liter of your grandfather's blood as collateral and bring your village chief priest as guarantor they do with the poor doesn't apply to the rich when they want to borrow money from banks. Just a phone call and the money is wired in

this is exactly what is destroying the economy. The bank is not doing much for smes but will throw your deposit to the rich. The microfinance that was created for small scale intervention are not doing much. The result bad economy.

sammymax:
I seriously need advice as I really don't know what the right or best thing to do at this time. Please elders in the house be kind enough to suggest what I could do.

I did not think something like this can still happen in this era but this is what I have to deal with. So my mum flat out told me she does not like the girl I took home because she is not fine. About 3years ago when we went home together she told me this but I just disregarded it like when I'm ready she won't have a choice but to accept her as she is. To be honest she is not fine at all but she gives me peace of mind which I feel is the ultimate.

She was involved in an accident with my dad last year and we lost my dad in the process. During the burial I went home with my babe again and my mum still made her displeasure with the girl show.

The thing now is that I went home again to see how she is doing and she called to speak me again after stating that I had disobeyed her by not breaking up with the girl she said is still not having her and if I insist she is the one I should count her out of the marriage. She can never come visiting or even call her. She will not attend the wedding. Now I am 32 and she is 30

How do I navigate this situation. I plead for good advice. Have you been in a similar situation how did you handle it.

you are not serious. When a mum tells her son the woman to marry, that means she has gauged her son and know that he has a lot of growing up to do. If you want your mum to approve of the girl show her that you are now matured.

ednut1:
Impossible. In 2016 or 2017 a company i was doing secondment at bought corolla for some managers. It was 24m then.

Same corolla in Canada after taxes is 31k dollars. Equivalent to 32m naira. Why is a poor country like Nigeria charging so much to even clear a car

buy made in nigeria bro. We must get sense by force

Makunahatata:
wetin concern anyone with u leaving naija ?

criminal celebraters

Makunahatata:
Obi supporters and their aggressive military style , bullying ppl.. The man mumu fr deleting the post, if relevant authorities find Ibd dende guilty of any crime,make den go after him...even ppl still dey celebrate Hitler and heaven no fall.

did you watch the video by fij. The evidence was overwhelming. The best decision i took was to leave naija. I bless God everyday for that.

Sambkay32:

since have been a graduated nothing forth coming, no work, no financial progress.
So last year I decided to apply for web development in which i will be through with it this year, unfortunately for me there was a robbery attack in my neighborhood yesterday night, I was robbed of my system and many other things
I'm so depressed right now
I have a lot to deliver with system
And there's no any other way for me to get new or second system, as Nigeria right now
Please my nairaland brothers and sisters help me, in case you have any system to spare me for now... don't let this depression kill me

begging on nairaland will not help. It is a faceless platform. Go on twitter or facebook were people can verify your identity.

hollas2jnr:
Dear Nairalanders,

This is just to serve as an eye opener for intending buyers of Naija used cars, especially a first time car owner.

We are in a very difficult time and having been able to raise some funds to buy a car is no small feat. Hence, i want to urge us to be very vigilant and make a thorough examination of the car before buying. Run once you see ANY red flag, except of course you have some extra funds set aside to fix/replace whatever you deem fit.

MY EXPERIENCE WITH A NAIJA USED CAR IN 2022

I sold off my car (bought foreign used) and decided to opt for Naija used car, when i discovered the prices of cars started skyrocketing. Eventually i got this naija used car, i had concluded on changing the engine which i thought was the max stress the car could give me. Little did i know i was just starting.

I like my car being in pristine condition (interior and exterior) and going down the memory lane this morning. I just discovered i have spent quite some money and time putting the car in it's current shape. Here are the list if things I've done:

1. Changed the engine
2. Changed all the engine mounts
3. Changed steering rack (i changed the oil after purchase and the rack failed immediately)
4. Changed the power steering pump (Did this myself)
5. AC needed flush, so i eventually changed compressor, condenser and txv (Did this myself)
6. Changed the serpentine belt
7. Serviced the transmission (Did this myself)
8. Changed the rims and tyres back to specifications
9. Reinstalled the thermostat and reverted back to factory settings (did this myself)
10. Changed the headlights and fog lights bulbs (got philips led of factory spec). The fog lights were badly damaged by out-of-spec halogen bulbs
11. Changed fuel tank cover
12. Reinstalled the trunk net
13. Fixed the healiner myself
14. Did the windows tint myself
15. Painted the car
16. And several other minor things in the interior and some I can't recall at the moment.

Bottom line, pls be very cary when buying a naija used car. Many of the above expenses, i wasn't prepared for at all. Thank God i love fixing things in my car myself. I didn't get all of the fix done in a short period.

BE SAFE OUT THERE, FRIENDS

Pardon my lengthy post.

my dear you would still spend more. Car can be indulging if you are not careful

Thundafireseun:


Who told you that rubbish

The politicians are the cause of the currency collapse

no banks. Banks bid dollars from CBN. When they are given they funnel the money to other places. When you go to bank to buy dollar they tell you no dollar. The day cbn stop selling to banks and peg the dollar, dollar will crash.

spiSeyi:
A serious country that is intentional about its economic stability, the CBN here in Nigeria is busy chasing rats (crypto exchanges and BDC) while the house is burning.
If CBN is serious and mean to stabilize the Naira most bank MDs will be in jail as we speak. What's the esense of pumping FX to banks that common Nigerians can buy USD in the Nigerian banking hall . CBN should stop selling USD to banks and regulate the BDC so that they can take full charge of selling & buying the USD

God bless you. The banks in nigeria is a full blown criminal enterprise

mannobi:
Ghaina with their unending jealousy and beef for Nigeria 🇳🇬

the banks in nigeria is why dollar is high

Thundafireseun:

This tiny Ghana no Dey fear oooo

Or did they forget we are still the Giant of Darkness 🤦‍♂️🤦‍♂️🤦‍♂️

At this point…. Anything we see it’s sincerely our fault …. Our wayo wayo tooo much

the banks are the cause of our currency issues

Mateco556:


https://saharareporters.com/2024/03/05/ghanas-central-bank-suspends-forex-licences-gt-bank-first-bank-over-alleged-fraudulent

God bless you ghana.

Meektunz:
I'm not talking about how to being her back, I'm talking about how to heal and move on...

it would be difficult to move on. There are kids betwen you both.

Meektunz:
So we just got divorced with my wife yesterday after being married for 7years with 3 children.

Please how can one handle the life after divorce such as what neighbors will be saying (gossip), children involed & the depression.

Your inputs will go a long way to help me. Thank you.

The thing is, the first day she packed some of her stuufs from my house to her parents house, nobody called me from her house to ask what the problem is, then yesterday she packed the rest and left with the 3 children and still nobody has called me in her house to know what happened. I'm sure they are all thinking I'll come and beg after w or 3 days.

lol. No be divorce now. Thats a womans silent treatment. Go and see your kids thats the most important.

edimina:
I would have loved to make an intro of this post based on what people have had to say severally about bringing your wife to abroad, most especially the ones you knew must have been messing up in ways that one cant curb in Nigeria talkless of being abroad. This is a summary of whats going on with me now. So I arranged for us to move with student visa, shes the main applicant and myself and the 3 children are dependent. Its been a year and the half here now, and just 6 months into entering this country, my eye dun see shege from this woman. One thing I can actually hail and praise her for though is her delegence in taking care of the house, cook and all that. But I do my own bit too cos when shes out for work, I cook for the kids, I clean once in a while too and do what I can.

So after graduation, we got a sponsorship work VISA via the care home shes working for, though while she was a student, she was working in a daycare which was filled with white people, she always complained about how she could not cope with the white people’s culture and how she cant contribute their gist, so she was really happy that she had moved to this new place where she had met some Nigerians.

Now this is where the wahala is, she has 3 prominent friends there, 2 males and a female. So I noticed she picks up these dudes at home to work, pick the girl and do the same, then to make it worse, she will go ahead and still go drop them at home, when me dun dey house after work after taking care of the kids make I comot with car, she go come late and all that. Overtime this ish continued, so I told her one day, bae I don’t think it’s a good idea going to pick and drop this people all the time, because for the lady, her husband normally come around to pick her up and drop her off, but since them don see mugu, the guy totally stopped, so it became my madams task to run everytime they are on shift together. When I had this discussion with her, she complained that they are just friends that she may get the same help from later on, I was like am not saying you should not help, but don’t take it upon urself to be doing this all the time. All said and done she never listended to me and the deed continued to an extent that the husband of the lady had only given her money once, and maybe once from one of those guys and na me and am dey combine money to buy fuel. So it got a level where she begin dey carry food from house go give those guys, not all the time but sometimes. So yesterday jollof wey she cook, I was going to microwave in the morning to eat, I found out it was gone, I called to ask where the food was, she boldy told me that she had taken to her two male friends who told her they were hungry, I was now like why would u priortorize outsiders over your family, she sha change am sey sebi they too bring food that she eats blab la bla. And to even say that one of these dude is the one I created this thread about: the level of disrespect is unimaginable. Funny this is, after creating that above thread, a week after serious confrontation she had a feud with the guy and they stopped talking to each other, in which the guy stopped working at the place, but few days ago I got in from work and I saw that she was on call (speaker on) with this same guy, talking freely and giving me a no Give a F attitude, because I thought the only way she could have at least show me that she was remorseful was to cut permanent ties with that guy, but hell no. After her convo with the guy, she came to meet me that she hope that am not angry about her calling and talking to the guy, I was like its none of my biz, that I had important things to think about, in which it was indirect statement that I thought she would understand, omo from that day like this them dun start their friendship again,, to an extent I felt disrespected, disregarded and I started feeling theres more to what I have been thinking before. That aside, the other guy too, I noticed that one talks to her anyhow, though in a playful way. One day she came back from work and started complaining that the people that shes helping that they aren’t appreciating her, the started with the lady, that her husband does not even care again, only sent her money for fuel once, but the one that is hurting her most if the fact that this other dude that talks to her anyhow tried to implicate her at work, saying that he started yelling at her at the dinning where the old people are, that why haven’t u fed this woman, don’t u have grandma in the house, that he went as far as reporting her to one of the oldies that didn’t gave dementia that could have easily reported her to her manager which can out her work in jeopardy. I was like so have u served his sanction of not dropping and picking him again? She was like no oo, this happened last week, that shes still dropping him, I was like wow! She was like the reason is because the guy had come to prostrate to beg her, I was like how old is this dude, she said 26, and shes 36, omo I was in awe. Before any starts saying am not man enough, am a simp or weak, omo this country na were oo, he dey change SOME women. On a final note I have given her a mandate that she should stop picking or dropping anybody off at their respective homes, infact she should tell them that its my husband that said so. Story continues on the other new thread

is not going to be easy to follow your instructiions. Boundaries were not set abinitio. My wife wanted same. I told her i will sell the car and collect my money. She now backtracked. You were not firm and she allowed this to go on for too long. Her friends are clearly opportunist and it seems your wife is not that smart. Probably you need to get another car for the family so that you are not affected. Also, tell her to cook special meals for her friends and not to take the family food. You have to let her learn the hard way

ekojas8:

Popular actress, Regina Daniels causes a stir as she shows off the fleet of cars in her house.

The movie star and mother of two took to her social media to flaunt the garage which was filled with exotic, luxury cars.

Taking a photo among the costly cars, she wondered which of them her fans could guess she went out with.

She promised to give a cash gift to whoever answers correctly.

More photos below

https://www.livetips.com.ng/2024/02/regina-daniels-shows-off-fleet-of-cars.html

her husband said we should stop using dollars. I wonder whether they used naira to buy these cars.