₦airaland Forum

grandstar:
Though the Russian-Ukrainian war greatly affected food prices in recent times, the high cost of things is simply due to economic incompetence under Buhari.

The Naira's value dropped from around 210 when he assumed office to N740 as at today. That is more than a 50% loss in value, the steepest decline for any government since 1999.

From 1999-2007, the Naira fell from $1-$100 to $1 - 122. From 2007- 2015, it fell from $1-122 to $210.

The Naira would have lost value under any government but Buhari accelerated that decline through lamentable exchange policies which he introduced (someone should inform his he isn't an economist) which devastated not only the exchange rate but the economy as well.

The loss in Naira value would definitely affect the price of food, especially those imported. If imported food becomes pricey, people will turn to locally produced foods which will definitely increase their prices. There is a chain reaction.

The next 4 years will be hellish for Nigerians. Buhari has left a big gargantuan mess. Over 100% of government revenue goes on debt servicing which means 100% of the budget will be borrowed.

There simply needs to be a Structural Adjustment Program (SAP) to restore sanity.

The Naira would have to be market determined. Overtime, I see the Naira dropping to $1-N1,300. That will be the true value of the Naira.

Fuel subsidy will have to go and the price deregulated. This will free up trillions of Naira for the government but will bring pain.

Energy prices will have to be deregulated which will bring short term pain. If prices are deregulated, meters should be provided by the Discos so that consumers pay for electricity consumed instead of subjecting them to crazy bills.. This should greatly boost energy supply.

Lending rates simply needs to come down. The present 35% will simply kill the economy. A reduction in Nibor rates will lead to a fall in the value of the Naira but will inject life into the economy and also reduce the cost of servicing government debt

This man gets it

IamANigerianMan:
The point is your useless universities don't give the needed knowledge and your useless companies are looking for first class instead of competency, I can fu**ck lecturer and get first class without anything upstairs.

Your poor anus

Realmrsean:
Abuja is a Northern territory then if you say this

The notherners should start chasing everyone away from Abuja because it's in the northern territory

Rubbish

Did Abuja exist before the amalgamation of the north and south(y/n?)

Did Lagos exist before the amalgamation of the north and south(y/n?)

Yes, the development of Lagos was driven by years of being the federal capital , and yes, Igbos as a group along with other groups have contributed to the growth of Lagos. However, you can’t call Lagos a no man’s land. It has existed as a part of Yoruba land long before Nigeria was created

Hate him or love him, Tinubu is a strategic mastermind, a very Tywin Lanister type personality

Jews, BLM, WEF, what do all these things have to do with a presidential candidate in a sub Saharan country?

I was with Jagaban last night. He busted into a buga after a few snorts of cocaine, so you may be unto something

.

“Giant” of Afreeeka

Napata77:
So the black man invented speech, language, writing, art, mathematics, architecture, law, metallurgy, philosophy, and religion. Discovered medicine, mining of minerals. Pioneered in seafaring and international trade.

These are the basic foundations of our current civilization.

HOW DARE ANYONE suggest the black race to be ''inferior''?

Without the black race, the whole world would still be grunting like pigs!

Abegii, all of this, and person still dey shit for gutter in sululere

The major problem with Africans/Nigerians is a lack of long term thinking and a poor understanding of cause and effect. Both these afflictions come from being in a low-trust society. In a high trust society if I put in the work by studying hard, gaining skills, and keeping myself out of trouble, I know I have a high likelihood of living a successful life, not the case in Nigeria/Africa, the outcome is more uncertain, if not leaning more towards the negative. What about long-term thinking? Why would I deposit my money in savings account? Or invest in a 401k or buy US treasury bonds?
I invest in those forward looking investment vehicles because I trust the institutions, and I trust them to provide me with some return at a future date.

Now, take those examples and think of Nigeria. As a citizen of a low-trust society, why would I take the risk of voting for a change-candidate that may improve things in the future, when I have immediate needs that need to be settled in the present?

The intelligence argument is one that definitely needs to be explored, however, I believe the major cause of the problems we see in Africa are weak institutions and a lack of checks and balances which leads to a low-trust society which leads to an inability to understand cause&effect, long-term thinking, which then leads to corruption and mismanagement

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Lol Tinubu supporters and their fake news. Pretty much the Trump supporters of Nigeria, which how much they lie and peddle fake news

Goodmarlian:
NOt just Nigeria its a black thing,blacks are naturally the lowest humans in evolutionary hierachy we are next to animals we can hardly get anything right in national and international politics show me a black nation that is a world power.
Ask yourself this question,if europe and Asia and the rest of the world gets wiped out in a nuclear war and Africa survives, can Africa be able to produce iphones,androids,cars,aeroplanes,ships etc i am sorry i think we will slide back to the stone ages and wear animal skins like our forefathers.

A bit harsh, a bit extreme, but your post contains more nuggets of truth than the soliloquies being posted. Someone actually replied this blaming the west for killing good African leaders lol. Are we back in the 50s and 60s? We’re still making that dead argument in 2023? Black people are going to be blaming the west for the next 200 years while the rest of the world leap frogs them.

Black people world wide need to stop this victimhood nonsense. There is zero honor in it in the modern world. Take responsibility, that’s the first step. Take more risks. People are way too risk averse, and then they blame the fates for things not changing. But the first step is to take responsibility of your decisions, of your life, of your destiny.

Our past leaders that Africans claim were killed by the west were brave enough to put themselves on the line because they believed even if they died, someone would pick up where they left off. Are Africans and black people at large living up to those ideals left by those great people? No

Kobonaire4:
Yet you won;t pay the fees and taxes needed to make the research facilities do the type of ground breaking research that is needed.

No old man is stopping any Nigerian from doing research. The problem is, good research costs money. The industrial countries can aafford the research because they pay high fees to their universites, pay high taxes so that government can fund their research labs well, and pay high bills for power, roads, water and petrol...so that the ground for industries to flourish and earn billions, part of which can be invested in R and D.

Here in Nigeria, we want to buy something that costs N4000000 at N4.

You’re putting the cart before the horse. Countries which are more developed than Nigeria, have governments that have created an economic climate that allows industries to thrive, which results in jobs being created, which then results in people earning income and paying taxes. You can’t go on a rant about people not paying taxes, when the people have no jobs. Makes zero sense

Brutee:
Go back home and develop Africa. This is what you clowns will keep on getting. You think you're free in a white man's land? Hell no, stop running away from Africa, do the right thing, hold your African leaders accountable. Revolt against them if need be. I'm sure the idi0t lamenting doesn't even have a single investment in Africa, you think the white man love you? They're just tolerating you because you provide cheap labour, Go back to Africa and develop it. No place like home


For those quoting me asking where i have developed so far. If i was privileged like those billionaires God knows I'll never own a single property abroad. Africa first, it's time we think home.

How much revolting have you done?

This is my problem with you people. You do way too much talking. Why don’t you lead by action. Show us the example by leading the revolt and by investing in Africa big man.

Lol@ your dumb excuse for why you haven’t done squat. Are the people you’re criticizing billionaires? Shut up already

Sons of sodom insulting a man old enough to be their grandfather, just so a walking corpse can fulfill his ambition to HOS(head of sheeit)

orish:
WO! They have not seen anything yet. They better send their children back to naija to study because nobody can save them from this forex scarcity. These same children would study abroad and come back to Nigeria to intimidate the rest of us that studied here.
These parents contributed to the dropped in value of naira. They make money in naija and pump it abroad. Why dem no go suffer the fruit of their labour? This is a practical example of cause and effect

Aww. Someone is jealous lol. Concentrate on eating three square meals, you pauper.

EnigmaticEnigma:
I'm guessing you were denied a Visa, am I right?

Dumb murrafvcker

So our bright kids in Harvard and Oxford should all be withdrawn to Uniben abi?

Is it only Americans that attend Harvard?

When people say majority of Nigerians are illiterate, I just have to agree. Just look at the evidence in the amount of likes this illiterate got from his fellow illiterates.

They're bloody losers. According to studies, the average Nigerian IQ is a 75(near retardation). This thread lends some credibility to that claim. Filled with jealous, unintelligent people.

repogirl:
worefa, whether they voted or not sef, they should still enjoy their 'CHANGE!'

Wow. You're such an acrimonious cu nt.

repogirl:
so stu'pidly dense...if the majority didn't vote him, would he be president? Duh?

How does that justify branding them as people that voted for Buhari? By that logic I can brand you a Buhari supporter.

repogirl:
It's getting real, isn't it?

My advice is.....


Enjoy una change!

Quick question. How do you know they voted for Buhari? So bloody obtuse.

Pitiful. I'm seething with anger as I read the comments. How is sending your own child to the university of their choice a luxury? It's fucking insane how people think on here. So many jealous people not thinking rationally. Put your envy behind for a second and see how unfeasible sending them back home is. Do things always have to work backwards in Africa?

abbey621:
Ode! Majority of Nigerians are depressed, frustrated, angry and so on, yet most are not threatening to kill themselves. If you are depressed go to a mental facility and seek help, this is what humans do, it's only nitwits like yourself and this guy that would consider taking a life they cannot create!

Depression is a mental illness, you person. It's not feeling sad or unhappy. It's a legitimate illness.He has the right to do whatever he wants with his life.This is why Africa is in shambles, too many low IQ m0rons like you living in it. Maybe you should be the one to kill himself. It will natural selection at its finest.

abbey621:
If you no kill yourself, you're a bastaard. Twyse or whatever your name is, Nigerians don't give a f*ck, too many people on this d*mn planet anyways, we need to purge some folks out! Nigerian youths are suffering, market women and men are suffering, even office workers that are being sacked left to right are suffering, yet we all realize if there's life, there's hope. Mofo kill ya sef ok, kill ya sef

It's called depression, you low IQ prick. You don't have mock or goad a man that is obviously suffering. Fucking subhuman.

Totfulguy:
Clearly your definition of self is subjective like you have admitted. I think you should look at the normative definition of self-esteem. But for your subjective definition of self-esteem, I would have sounded you out on your rather contradictory contribution to this discuss. We can talk about this when you have reviewed and updated your opinion on self-esteem. But you do sound like you feel bad about this subject...like there is something you have done to your body that you cant reverse. You are taking everything personal.

Too personal? You can't be serious. You're projecting kiddo. Your IQ is obviously too low to understand my post. I don't bleach; I just don't believe in policing other adults. Ciao.