₦airaland Forum

MadamExcellency:
Soldiers and Security Agencies are employed to protect lives and properties and not to vent their anger and frustrations on innocent civilians mostly women and children due to military's lack of intelligence or any of their operational failures.

I expect you to know that the civilian populations in Niger Delta especially the women and children are the ones bearing the brunts of the environmental pollution and sufferings in the creeks hence need preservation.

Militants have their means of sustenance (oil bunkering and smuggling) hence should be targeted while the Soldiers should make sure that no civilian is "purposefully" targeted in revenge.

Rexleo:
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Available conference rooms and event spaces including :there is no such event in the USA that Mrs Aisha attended at the request of the US govt.it was simply an event organized by mrs Aisha her self.staged managed, the name of the senators are missing for confirmation. And by the way no one is talking about the mode in at which the money was remitted. Atiku is not contesting it that he is the one in the judgement and Dumebi kachikwu the younger brother of the minister for petroleum is not contesting it also.the whole thing smack of a ploy to hoodwink gullible Nigerian. Actually she did go to USA just to deceive and make a point but people are wiser now.

Bolustic:
Why are these Ugu people from Indonesia this local now?

Haba, we see rice from Kebbi, Niger, Thailand and other rice producing countries without the pictures of their politicians.

When Anambra start printing Bible, Hymn books and other textbooks, I'm sure wo would see another Ankara picture again.

Why glorify individual over institutions?

SuccessGee:
I dont think there`s any difference between investment houses and banks. They are all out there to make the money.

Vendoor:
Delta
With all the oil money

Candyrain:
Does any of these solve the Niger Delta problem?
The quest for resource control wasn't even discussed
mtchewwwww...

Lubbish

lielbree:
Where a region controls is resources. We have 6 in Nigeria.
Inevitably taking away power from the center government and back to the people.

lielbree:
That's why we need regional resource control.
Those will oil block licence are far away in Abuja or the north. They don't feel the impact of their great wealth.

THE NORTH IS INCREDIBLY RICH! It is laziness to diversify the economy that have made the north poverty stricken. The north does not need ND oil.

Let's all push for the restructuring of our country.

agabusta:
http://punchng.com/im-not-pdp-convention-says-metuh-2/

Fourwinds:
d girl actually expose her stu..pidity...she even went on to say her course mate dat gave her number to him did so so in order to spite her...


this is d foolishness I have been talking about...


later u will see them crowded in church premises seeking d face of God...

who are girls deceiving. d gentle man came not once..twice yet d foolish girl thought she was doing herself good by avoiding him


nonsense dey smell

Okay jpphillips


I see you are into local content, which is good, very good.
Your policy framework is good too, ie making the manufacturing sector buy materials at a cheaper forex rate, making them priority.

But at what cost?
That was depleting the reserves very fast, wasn't it?
And besides, when the forex reserve become depleted because we are trying to sell to the manufacturers at a low rate in the long run, what then happens when that forexis depleted? Venezuela tried it, and see where it has landed then today, in big trouble

I fully understand what is going on in the Nigerian economy, as it is my field of specialisation, so dispel that notion you have that I don't know...
We may just have differing views, that's it.

And as for getting ourselves away from anything foreign,
the truth is that no country in reality can get away from foreign goods, or sustain itself 100 % no country does, even China (which to the surprise of many, is one of the world's biggest importers too)

coolscott:
I must say he gives the impression of creating a bit of grandstanding but the things he says nevertheless are true. Some things look as if they were meant to to whip up the reader but the core of his message is true.

Grandstanding is associable with politicians but it does not take away glaring nature of the problem before us.

Of course, he didn't talk about his EFCC case but we all believe it is because of all the things he points out that the EFCC is after him, which is not in anyway a declaration of his innocence. I would love him to really come to God, not just nominally.

Edoblakky:
Many people are saying what they know nothing about. I used to live in PH and my 2 bedroom apartment in Woji cost 200k per annum. When I came to Lagos, my 3 bedroom apartment in Lekki before chevron drive cost over 1M. Some 3 bedroom cost 1.5M around my house, in Lekki phase 1, it's much higher. I agree PH houses cost but they are less compared to Lagos!

You lived in woji village and i guess your relocation is upto 5yrs, newsflash, a 2BR flat in woji village is averaging 450-500k, if you like decent places in Woji like the Alcon area or anywhere by Elelenwo bypass, average rent for 2BR flat (decent one) is 650 to 800k depending on facilities, and who told you woji is Portharcourt? You could have mentioned Obigbo too as PH

Miller1:
the person saying that rent in gra ph surely u miss road. wen I pay 500k for a 2 bedroom at just mgbouba. gra ph u should be talking of 1mil minimum

Ugosample:
The forex regime will favour "local manufacturers" at what price? @jpphillips?
The government has started in a wrong footing, but they still have time to correct their mistakes, and restore confidence in the Nigerian economy in the eyes of international investors.

That I hope he realises, before it is too late.

zamirikpo:
@agbaletu thank u

I just tire ooh, y will they delay someone's principal @maturity, some people can mislead ooh.


Thanks again jare

Royal155:
I don't know why some people are afraid of this 365days tenure T.bills. This tenure remains the best in t.bill, as far as you have some idle funds that you won't be needing urgently. For someone who is afraid to invest in t.bill for 1yr, I wonder if that kind of person can ever have the nerve to invest in bonds and shares.

Omonigeriarere:
Instead of having one consolidated investment, split your bidding into two in different banks: one for high rate based on risk while the other enjoys assurance. I think you can never missed both if you know how to play your game.

My opinion though.

puna:
house why are banks always against you buying tbills.
was at first bank to to liquidate my fixed deposit so as to be able to place bid for next week but they kept doing their best to persuade me..even telling me that tbills are now unstable
and their rate for fixed deposit at 182days is 6.6%

stevecantrell:
IMF is laughing at us like crazy now...

This was actually from CBN directive bro. You have to google to get this detail, some of us are professionals in the industry.

http://www.thisdaylive.com/index.php/2016/04/12/how-we-all-depleted-the-foreign-reserves/

http://saharareporters.com/2016/01/11/foreign-exchange-crisis-cbn-lifts-ban-cash-deposit-dollars-others

Please lets be reasonable, Niger Delta unrest started when? When did oil glut started that this administration refused to devalue to accommodate the difference? Wasn't that what prompt JPmorgan to removed us from emerging markets bond index?

Again, you seems to be confused, ND militants impact mostly crude oil buyers. The investors federal government is seeking are bond and treasury investors. So they don't need ND.

Why is the manufacturing sector weak? Because CBN and FG failed to adjust their monetary policy to accommodate 70 percent fall in oil prices. Consumer prices surged because of the difference between bank and parallel market rate, and unreasonable restriction of importers (41 items).

Buhari is not an economist so is not in his place to make these decisions, David Cameron, Shinzo Abe, Barack Obama etc don't meddling in economic matters.

Beer issue is still the result of poor monetary policy, they should have adjusted forex policy awhile back.

Oga you are talking story.
I don't have much time to explain in detail why Buhari's foolishness led to this mess, but I'll just summarise.
Now, the Nigerian economy has more potential outside the sphere of oil, and that is the advantage it has over countries like Saudi and Venezuela who, unfortunately, don't have too much to fall on apart from oil.

That said, even with the crisis at hand, a president and economic team who knows what he is doing would have navigated his way out of this with less casualty
But the president does not know what he is doing.

First, he took too long to build up his cabinet, leaving the economy in a state of policy flux. No foreign investor likes that. They need to know the policy direction you are taking, And your target variables too, but since you did not have that, the rating agencies downgrade you, and in addition to potential investors not coming, those who are already here looked for a way out, leading to the worst capital flight in 15 years...... The ASI over the last year would show you that (of you are a sincere economist) Not to forget the budget wahala and the impasse he has with the Legislature.

The foreign reserves we have to back up the naira was made up of more than 40% portfolio investments, but because of these cluelessness, they had to pull out.
(And by the way, many people we call foreign investors are actually Nigerians in the diaspora, and they play a key role in the forex inflows into the country, as they have a big stake in the market)

So when the government has already made this blunder, you expect a peg on the naira to just miraculously work at keeping inflation at bay? Even when there was a peg, the naira was doing 330-353 already, so what are you saying?
And the peg was discouraging investors and those who send remittances because why would the CBN buymy dollars by force at 199, only for me to get it back at 300 plus? That is madness.

As for you insulting my background, lol.....
I'll just let that slide.

Now listen, Ugosample is right. The CBN and FG were forced to introduced flexibility forex policy because of continuous depletion of our 'foreign reserves' used to offset deficit caused by fixed foreign exchange rate.

If the FG had agreed to flexibility forex policy before global risks increased to the level last seen in 1999 due to Brexit, it would have worked because as at then foreign and local investors were still very interested in Nigeria market, because one, our GDP growth rate was better than most emerging economies but now it has dropped consecutively. Hence, they refused because experts are forecasting 400 by December.

And to worsen the situation, global economics is nosedive amid huge uncertainties, so why chasing people that may never come when you can as well focus on the masses, lower rates to create jobs, reduce unemployment and encourage the diversification this administration emphasized when they first came in ?

Ugosample:
Even with the peg, wasmt the dollar already 350+?
The man is clueless, simple and short

thespokenword:
Ifeanyi uba offered to help the country over this naira freefall citing that the problem is indeed 60% political and 40% economical . But what happened, they ignored his opinion and even threatened him with corruption charges.... In a salient society , ifeanyi would have been appointed by the presidency itself and so many big grammar speaking professor of economics would have been asked to serve under him. Baba, I hale your methods, for the result speaks for it.

Truth234:
and you don't see several job creation? Lower interest rates to create jobs and attack unemployment in order to increase consumer spending and boost manufacturing sector.

Done exchange words with you, its obvious you have no understanding of the subject matter.

Ugosample:
So you are telling me, an economist, that I have no clue about how the economy works? Lol.
So tell me, are you an economist yourself? I bet not.
The KEY reason why this mess is happening is because the dullard in chief knows nothing about how the economy works, and the Finance minister is incompetent, and lastly, policy somersault.

when you talk about money from the FG it makes me wonder where these monies come from..is it not from the same niger delta which has been marginalized from time immemorial...let the FG come for a talk..if they insist that the niger delta pay for the oil assets i wonder what we would be asking from the FG fpor the spillages their negligence has caused over a long period of time in the niger delta...or if they want we can allow them take monies accrued from oil proceeds for a period of time until payments are complete and then we have total control of the resources in the niger delta...

the truth is regionalism would be a whole lot different from what just individuals are doing...regionalism would ensure states run their affairs to the benefit of the indigenes...private companies wont do that precisely...

besides individuals can invest in the niger delta to produce oil whilst the resource predominantly controlled by the states..individuals would even buy the assets of the Federal government..all we want is that monies from oil does not feed lazy people elsewhere who at the end of the day come back to abuse the niger delta...let each state manage what they have...e no hard the way you dey make am seem...

people would buy FG assets..the FG can go to hell