₦airaland Forum

MT:
No one has a monopoly of violence. There are countries that are nuclear armed in EU as well, not to talk of the US.

Puting is just reckless and his people will soon turn against him for starting a needless war when the Russians economy tank. And trust me, there will be lots of mercenaries fighting alongside the Ukraine's army.

Do you even understand what Russia is fighting against? All the world power are guilty of same shit. Make China or Russia go get alliance with Mexico, America will invade in less than 24hours.

SeeThisLoser:
And NATO don't have Nuclear bombs ?

They have newer and more capable Nuclear missiles.

Putin is an idiot.

There you have it. Everyone go collect. NATO is sounding like only Russia will suffer. The world will suffer.

NigeriaNawa:
NATO's response



https://www.youtube.com/watch?v=GAvr50f6gNc


Russia will be turned into dust

Hehehehehehehe... Joke. The country with the highest nuclear war head. You think Russia is Libya

Laggafin:
Russia is toying the line of Stalin and Hitler and must be taken out if the World dosnt want to experience another horrific 3rd World War.. Zelensky the leader of the Ukrainian federation is a Jew.. and I tell you nothing like what Hitler did to the Jews will make any beast defeat them.. NATO and it's Allies and all decent Nation's around the World must rally now on the offensive and support Kiev to put Moscow's Rascality to decisive Halt and Cage the bruttish reigns of darmagog VLADIMIR PUTIN

The world need a Russia whether we accept that ot not. Russia has to check the excesses of Nato which Yankee controls. See there's nothing new here. During the cold war America fought Cuba over their alliance with USSR. Russia will never allow Ukraine join Nato. It's like having a gun to Russia's head.

Whatever happens the world should blame sleepy Joe for not addressing Putin's security concerns

Mexico cannot have an alliance with Russia. The day they announce it America will invade Mexico overnight. This is the real issue. There are already power blocks and everyone should be respected

gaby:
A very hard sell this will be and yet another reason why the government should face governance and leave the business for business people.

This is the lie we have come to believe that government have no business doing business.

We can't continue on this path. Government can run profitable business and it has been done in different parts of the world and including Nigeria. It was the politicians that started this narrative and we bought the lie thereby giving them the go-ahead to sell our profitable businesses to their cronies. Since privatisation policy over 400 public companies have been sold but less than 10% are still operating till this day.

Instead of joining the bandwagon of government have no business in business I believe we should start clamouring for leadership accountability

Naija na scam. If na one riff raff now na midnight them for don burst am.

When i hear people talk about peace i just laugh. There will never be peace where justice is only delivered when the poor commits a crime.

.

Prosper my guy don turn news for nairaland. This is good ���

Until we put an end to this madness of awarding contracts we will never move forward. It has never worked.

I don't see any reason ministry of work can't embark on projects.

If the manpower and equipment are inadequate I don't see why the money voted for these projects won't be more than enough to execute the projects and at the same time engaging the Nigerian masses.

The Nigerian project must be carried out by Nigerians

KingDash:
PI for life.. I have over 20000pi, just waiting for this mofos to lunch make man chop better money..

Where are you going to see the money to eat? Most people don't understand how market works. You can only cash out if investors are ready to pay good money for the token you're holding.

I'm wondering why any sane investor will want to buy something almost everyone has for free

Mynd44:
Why?

Imagine this. The government spends billions subsidizing education for you all, free primary school, free secondary school, cheap universities(compared to other countries) in the hope that when you graduate, you will advance the country but you want to travel out (japa) with all the financial commitments the government have done for you and you still expect this same government to make it easy for you to travel out?

Imagine you spend money sending a woman/man to school thinking when done two of you can marry and be happy but alas, the person falls in love with someone else and says you are below his/her standard but still expects you to foot the wedding bill.

Or you as MD spends money training staff and the staff decides to just up and leave yet expects you to pay for transportation to the new firm.

The Nigerian government owes you nothing in this IELTS fight.

Your analysis is so wrong. Do you know the impact of foreign remittance in our economy? This currently stands at $34 billion annually. No be people when japa dey send the money enter our economy? Making sure their loved ones go to school, their elderly get medical attention, family houses are built and meeting other needs?

Stupid Nigerians. Are they the problem if Nigeria. I'm happy we lost sef so we focus on the real issues here.

People are getting killed and these lots are threatening footballers.

obailala:
Lol.. N165?

How much do you think it sells for in other countries where they also refine?

Even if we refine locally, I doubt the cost would be less than N200 except subsidies are paid. And of course, the private refinery owners have profits to make and a huge loan to repay.

What's the cost of labour and other factors in those countries you're making the comparison with?

Fuel is priced 40 cent per litre in Saudi Arabia. And can you compare the minimum wage?

The problem with Nigeria is that even the enlightened folks are quick to jump into comparison of international standards without deep understanding of the peculiarities of the Nigerian situation because they are well off.

Forgetting that it's in the interest of every one for us to have a stable economy where an average Nigerian can survive doing any job they find.

Let's keep supporting international standards until the poor will have nothing else to eat than to eat us all. It's already happening with Kidnapping and organ harvesting.

obailala:
There're several other producers of cement in Nigeria who also sell their cement at cutthroat prices (some possibly even higher than Dangote). But somehow. Dangote seems to get all the blame all the time.

He has 60% of the market. He determines the price.

Cognitivereason:
Lol...ur getting it all wrong...
The only benefit of refining fuel ourselves is that it get to save us Forex...
It doesn't and can never equate to a cheaper price...Brent oil is selling for above $80 ..if a company buys it..there is a particular cost they add to it (cost of refining) and they add their profit margin...by the time they begin to resell the byproduct.. In this case...Petrol...they should sell it for around $1...
If u check almost every African and Asia countries the cost of a litre of petrol is around $0.9 to $1..for a litre...
Now convert $1 to naira and see the price..
.
The only way fuel can be cheaper if subsidies are removed is for CBN to reverse dollar rate to less than N150 for a dollar..
Or they sell crude to Dangote at a subsidized rate which goes against the whole idea of deregulation and subsidies removal

You're the one getting it all wrong with your analysis. Check how much pms is sold in other oil producing nations Vis-à-vis their earning power. We pay really high for it.

And saying the only benefits of refining ourselves is saving us forex means you have no idea of the cost components of petroleum products.

Nigerians are already poor through our earnings. If we want to measure up internationally then wages and salaries have to reflect same. If not, we're moments away from Doomsdays. What do you think is fuelling kidnapping and ritual killings?

RodgersAkpafu:
The person telling you that is not telling you the complete truth
Do you know how much they pay to settle local boys, pay for their trucks to have passage and other "extortionist" taxes that they pay on the road and in the communities?
Cost of capital is also much higher in Nigeria
Though in recent years he has been pivoting to foreign sourced capital which is somewhat cheaper.

All I am saying is that the overall environment is hostile for production

Hehehehehehehe... How much Please? Try extort Dangote make we see. You wan dey argue wetin? Dangote and Bua pays #25 per ton for limestone.

I have done business moving with trailers. Them no born any tout or security operatives for road to block Dangote truck.

If you talk about interest rate and cost of capital that one no touch Dangote. He gets all the good rates that can only be a dream for an entrepreneur in Nigeria. Dangote between 2010 and 2015 made over #1Trillion in profit and paid only #12Billion in tax because of pioneer status they kept granting him.

backbencher:
Americans also outproduce food more than Nigerians, which is another reason why food is cheap.

Plus, there really isn't a problem with subsiding fuel. The problem is that the source of money for subsidizing fuel is crude oil revenue, whose prices are

1.Never at the level we want it to be

2.Also severely fluctuate.

And because of the fluctuation in prices for fuel, we have to borrow money. It makes it difficult to pay subsidy, whose cost always rises because the cost of producing fuel is not static.

Meanwhile, tax revenues in Nigeria are poor...our tax to gdp ratio is 6.4%, and less than 30 percent of Nigerians pay income taxes to state and federal governments...and really we should be funding subsides from tax revenue, not oil money.

Corruption eats more than 50% of our commonwealth. Nothing will make sense until we take governance seriously. And it's in the interest of the working class to clamour for real reforms that will bring about a stable economy. This is in the interest of every one. A friend's colleague at shell was kidnapped and killed last month. #5M was demanded which was paid but he couldn't survive the torture, died few days after he was released.

An average Nigerian's mindset is to focus on your hustle and forget about what's happening in the country. That needs to change because you can achieve everything on your own and get killed like a stray dog just like former Air chief marshal Alex Badeh was killed.

Nigeria need a people's constitution and not the fraud called the 1999 constitution. I believe this should be the agitation.

backbencher:
Well, once subsidy goes, I expect there to be more investors (there are 4 other refineries on ground, and 20 other on the drawing board, and BUA is building a refinery...that refines everything but petrol)

As for cement, Dangote does not enjoy a monopoly. BUA(again) Lafarge, Ibeto and one other company are there manufacturing cement (and I think Lafrarge is better than Dangote...)

It costs money to do business in this country. Insecurity, theft, corruption, stealing, bad government , etc all add to the cost.

Then the fact is, refineries are expensive to run. It is one thing to build it, but keep it well maintaned, expansion costs (Daogte has plans for expanding the thing ) and so on are there.

I'm not defending Dangote, I don't even hold much affection for the man. But I am attacking the subsidy regimen which is why we are reliant on imported fuel, and have bad refinereis in the first place.

Don't be decieved subsidy is not the problem of Nigeria. Food is cheaper in America than in Nigeria because of subsidy the American government pays to farmers which stands at over $20 billion annually.

The same America speaking against subsidy. The goal of any sane society is to have a stable economy where average citizen can afford basic needs doing any job he or she finds.

Fuel drives our economy that's the reason for the subsidy. We're here today because of leadership failure nothing else.

backbencher:
Well, Dangote has to

1.Pay his workers industry level salaries

2.Pay back loans and such like

3.It also costs more to bring out crude in Nigeria than it does elsewhere in the world.(Insecurity, resource control, etc)

4.Transporting fuel from refinery to source is going to go up as the transport cost aspect of subsidy won't be paid.

5.Marketers too have to make profits

6.Refinery maintenance costs, insurance, expansion, and upgrades all add their own.


All in all, the man has to tell us how much it would cost him to refine one liter...but I heavily suspect it won't be below N250.

All that adds up.

Niger Republic has a refinery , and a source of crude oil...and sells petrol for N350 or more per liter.

You can't compare Niger republic to the Nigerian market. Stop making up excuses for Dangote. He's killing the average Nigerian with his business practices.

If not for Monopoly which he enjoys. Cement can sell for less than #1500. The Chinese manufacturers import almost everything, pay better wages and still sell cheaper than Dangote.

RodgersAkpafu:
The simple reason for this is because production in Nigeria is very much expensive
Think of how much worse our exchange rates position would have been if we were still importing the huge cement demand needs of this country

Life is a trade off
You cant have it all...
If you want cheap stuff produced abroad
Dont complain when your forex is wrecked

Production in Nigeria is nothing like other countries as far as cement is concerned. A friend is an accountant in one of the cement factory. He told me first hand that cement can sell for #800 and Dangote and Bua will still make profit. Their cost of production is so low. They get limestone at #25 per ton. Pay slave wages at their factories.

ROI for cement internationally is 17%. But Dangote returns more than 40%. Because poor Nigerians are being ripped off by paying so high for cement.

Cognitivereason:
Fuel is supposed to sell for N340 and above per litre if not for subsidies.. Since govt wanna remove subsidies by july...when dangote starts production he will sell fuel for N340 and above depending on oil prices

He is not inflating it as that is the international price

What kind of analysis is this? And who told you fuel is supposed to sell for #340? Do you have any idea of what makes up the cost?

If we refine fuel ourselves fuel shouldn't sell for more than #165.

Until the working class organize to take back this country we're yet to see the worse

Is that the concern of CBN? How does that reduce the cost of food in the market?

Tinubu's legacy

bigpicture001:
You only rely on the exchange rate... U have nothing to say.. if online is so so sweet.. why are people spending in a dollar economy not all attracted to it.. they shld all leave their office and jump online...

Exchange rate enables senseman... If it equals I will know where u will run to..

That my girl can become anything she wants to and create personality she wants to.. but u can't.. u only depend on exchange rate differences...

Mumu Mr sense!

Hehehehehehehe... Better try and cure yourself of this financial illiteracy. I'm sure it's because of the money you're dating the poor girl.

If I do nothing I can predict that the Naira will lose atleast 30% value from where it is right now within the next 1 year. So why would I want to hustle in naira?

Don't worry fuel increase is going to hit soon so at the end of the year let's check who has done better. Olodo!!!

bigpicture001:
You boast with so much ignorance.... My gf.. takes home a minimum of 100k daily from her small business that she started with 200k

100k *26 days. Is 2.6 million... Now multiplied by 12 ,it gives u 31.2 million...

In the industry she is the 6th best patronised...

Hehehehehehehe. You're the ignorant one here. Tell me she did all that in one year and I will tell you you're a big liar.

Do you know how much people make online? Quote me anywhere you can never equate what people make offline with what people make online.

Most of you are truly ignorant. I know a guy that make minimum of $1500 daily and he made his platform active by posting engaging content for 3 months.

You will kill yourself first before you get that type of result in an offline business having little or no capital.

And I'm sure you don't have 50% of my offline business experience.

My friend in Canada after years of working offline with nothing to show for it only bills. I advised her to look out for remote jobs and she did. Her first job is now with Coinbase with about 33 Canadian per hour and that doesn't stop her from getting another remote job.

Lawlessness

adonainana:
Why type of business man are you that wants to invest $1000 and reap 85m

Anyway If your plan is to buy shiba or dogecoins with the hope that the cypto coins rise by 1000 % in 8 months then you are doing yourself and whether or not or rises, you have not yet done business my friend . You simply speculating and gambling your options

Hehehehehehehe. I can bet anything you don't have 50% of my business experience. And why are you assuming?

Na where person knowledge end another person own start.

The only reason I responded to you was because you ignorantly ruled out online business.

I have traded Timber, Yam, Cocoa. And also fabrics both in Nigeria and Ghana.

You don buy market with trailer make your trailer fall for road?

adonainana:
Go and meet dangote cement wholesalers how much money they make per month, try asking iron rod sellers too, those who buy spaghetti and food items in bulk pls try asking them how much they make

Ask ebaneo supermarket too, try asking medplus pharmacy how much it makes importing cheap drugs from India to Nigeria

Just like people made money from Crypto in investing in different coins, people lost money in some coins that gazumped on them too

Just very similar to betting but it’s not betting i

That sort of business is not a real business where you are only praying to be lucky bitcoin moves to 50k dollars next month how is that a viable business model

150k dollars 84 million naira in a year just 84 million naira and you even confidently said no offline business can make such

Go and ask coacharis motors how much cars it imports per year and how much money it makes on each

Even people selling houses in Lekki gan self dey make 80 million naira per year

I repeat no offline business can give you that with $1000 capital. Tell me any offline business you can start with 600K and make up to 85M in a year. I'm waiting.

Those people you mentioned what's their profit margin?. For them to meet up cement wholesalers involve in re-bagging.

You clearly ruled out online business that's why I responded.

I have experienced both online and offline business and I will fucking choice online every fucking time.

Dangote can't survive in a free market where there's no political influence determining who sells what. Dangote is a bad example of an entrepreneur. Because an average person will never have such influence.

adonainana:
another one bites the dust
Invest in a real business, I’m sure everyone reading this has a businessman doing business in their area maybe selling electronics or importing and exporting

What don’t you approach him and say pls can I lend you this 1 million naira and help me with a decent ROI or simply tell him you want to invest in his business

Your returns are guaranteed

Stop giving your money to people who are into online business or who don’t have a physical product

Only invest with people who buy and sell a physical product

Only buying and selling any commodity commerce wise can make you rich in present day nigeria be it on the wholesale or retail level

This is a flawed argument. People have literally made more than $150K in a year from investing with $1000 in Crypto currencies. There's no offline business that can give that kind of ROI in Nigeria.

Same way Fashola went to snap pictures of train coming to Lagos

ivolt:
Don't toil with jail based on assumptions or movies.
In real life, illegal drug users end up in prison.

Where?