₦airaland Forum

michlins:
No be today people begin to import and it's not today people tried exporting. What is happening today has nothing to do with the masses. Channel your energy to the appropriate quarters

Power is non-existent, steel is imported but you want people to set up companies. Which competitive advantage do they have over importation.


All these arm chair economists who haven't done anything business in their lives

Don't mind him.

Without any plan. Yes.

These are the steps that have lead other countries to such hyper inflation:

1. Excessive careless spendings
2. Careless borrowing to fund careless spending
3. Country finds it difficult to pay loan and fund government and they start printing money without backup.
4. Super inflation sets in as govt keep printing money to fund government and eventually government start to default on loans .
5. Hyper inflation sets in and government becomes overwhelmed.
6. They Ditch the local currency and start using US dollar to escape the inflation.

ZImbabwe and Argentina have gone through those six steps above.

NIGERIA is currently at number 4. If we enter number 5, that your 15,000 will be a small thing .

papyjaypaul:
I am not an admirer of this govt but theres a point there. We do not own the dollar and it's foolish for us to be crazy about a currency we do not control. I blame all of us, so it's not about politicians. Why is the exchange rate a news item everyday? Even if you have an angel as President if Nigerians have the attitude that dollar is their savior, they will not succeed with naira. If a foreigner comes to Nigeria and we accept dollar from him, are we not fooling ourselves? We even have schools and companies charging in dollars inside Nigeria. Nigerians are their own problems. Yes, Tinubu and his Bank man have work to do but they are not the only ones to be blamed. we all have a role in it. How do we think we can be living inside Nigeria and be hedging against our own currency and expect any policy to work? If no one is demanding and using the naira it can't work. Why is the naira you have in your account not something you can transfer to that school abroad? Why must you convert it to dollars first? Why the stress? That's part of the govt job to do but in the meantime, tell me your experience when you travel and show them the dollar or pay with the dollar. If it's not Zimbabwe who cannot control their economy, they will tell you to pay them in local currency. Nigerians just like to show off foolishly holding the dollars. The Americans do not carry their currency the way we do. Oya carry dollar go UK make I check something.

Hedging against a currency is not new. Even in USA they use gold, pounds and euro to hedge.

Our own case is that we are not producing crude upto expectation and we are no more serious with Non oil export growth like Obasanjo was. Government should develop policy to encourage export .

Do you know most cargo planes that come with goods leave the country without carrying anything for the return journey?

First of all let them address insecurity, allow farmer go back to farm , liberalise the mining sector so that anyone can participate legally without connection or tribal sentiment and also punish crude oil thieves .

We have gone beyond embracing made in Nigeria goods . We are even kissing it.

The truth is that those factory producing made in Nigeria goods import 70% or more of their raw materials and require dollar to do so. Eg Dangote refinery .

Government should stop sending their boys online to blame the citizens . Instead they should employ technocrats on how to attract foreign exchange .

If Nigeria tries it then the economy will never recover. Which foreign investor will agree to come into such economy? Let them implement it and see how Nigeria becomes the worst place to do business. Some people that have never used dollars in their lives are even supporting the move.

Those who organised the protests then are now in power. Nobody to sponsor protest anymore.

Nigerians have herd mentality . They need a group of people to start it and then they will join.

Thank to atiku's inquiry we have been offered better explanation .

HugeElephant:
If only it's eaasy to kill ones self.
Self termination Is the hardest thing to do in the world

what makes it the hardest thing ? With sufficient determination anybody can end it. You never can tell if his situation has given him a strong enough determination to end it.

cloud100:
Life had been horrible.all efforts to fight through keep moving and getting me back to the complete state of failure.

People dont know what people pass through,when they see someone contemplating suicide they usually laugh or insult such a person .well my prayer is that let not even my enemies pass through what I passed through.

Well I would be living this world any minute from now,am not a mentally weak person or lazy person only God knows what am passing through in this horrible earth.

Goodbye

why not share your problem here. I am sure a reasonable solution would be found

Wow. I never knew such happens in the east . I was thinking it was a lagos thing .

It is common in aba. Ethanol moves there like mad as at 2019

A lot of our crude is being stolen. If this government is serious about stopping the theft they will. Also they should allow the bdc to resume access to dollar from CBN. This will unify the exchange .

We are currently in rice season and that is the reason for the drop . From march it will go up again.

femisplash:
You made a comment, didn't you?. Did you proof your spurious claims.

You still haven’t taken corrections. You see it as a battle of words.

Kindly desist from opening such tread without concrete proof next time. It only creates ethnic tension and makes people see you in bad light . I am taking time to advise you like a father to a son. Let us build this nation and not divide it with threads like this .

femisplash:
I was expecting you present facts that igbos don't borrow for consumption.

I didn't create the thread. You did.
It is not a smart thing creating such thread. You couldn't defend yourself.

femisplash:
Is it not a normal thing for him to test run any new prototype before flooding the market?. Have you seen the assembly of his danfo vehicles anywhere?. And for you to say igbos do not borrow for consumption, is like you're not talking about the igbos that i share a space with everyday. Maybe you're talking about alien igbos that walk in the air. May God cure your empty boasting.

you still refused to present facts.

I was wondering your motive of opening such a divisive threat and after reading all your comment all I can see is just assumptions. Such thread don’t benefit anybody. It only increases the tribal hatered.

femisplash:
Most likely, innosone himself is using this one as a test run, it'd better meet safety protocols or else, hmm

Most of your arguement in your thread are based on assumptions. I was expecting you to drop a link where innoson said he will use some vehicles as test run or where you see Igbo borrowing money for consumption . Back it up with facts . I enjoy reading things backed up with facts .

Our leaders don’t understand economics .

Capital importation rising and it is not reflecting in the exchange rate. Na wa o

I suspect it is a cyber attack. They usually don’t disclose it so customers won’t panic and withdraw. It happened to zenith bank during that new notes period early this year.

Nice2023:
More people are becoming increasingly poor.

They are becoming increasingly poor without knowing. It is when you receive your salary and go to the market things will shock you.

Successdude:
Isn't that saturated ?

I don’t think so cos a lot of new outlets open daily

Lagos is full of touts. Honestly my future business plans does not involve lagos. Touts will disturb you when building , they will disturb you when transporting your goods and they will still disturb you if you make call while driving (Orile side of Badagry express )

I wonder how families who earn below 300k monthly survive

POS

He looks ok to me. He only lacks money . If he receives a huge alert you will see what I am saying .

Mothers of tomorrow. What values will this one teach her kids ?

All the effects of bad policy by buhari regime is begining to hunt us. Now no more local crude to give to refineries because our future crude production was used to borrow $3 billion. And this borrowing was caused by that low IQ ex-president who used our reserve to borrow money as if we don't need reserve anymore.

If Nigeria was a serious country Buhari will be called for questioning about how all those loans was used.

* Tinubu will still be president
* exchange rate will be high because of low oil price as demand for petrol will minimize in the uk and other parts of the world because of the shift to renewable energy.
* Tribalism will be more and more despite the suffering as it seems the politicians has discovered this new tool to split the masses
*There will be several armed groups taking over parts of the country and the government cannot do much because the institutions are weak as a result of corruption. At the moment bandit have taken over north , unknown gun men taken over south east. It’s a matter of time for other regions to be affected .
* Many Good brains would have left the country.

Mine is B. Especially those bacon and sausage

majesticguy:
Anambra1stSon2 I think my good sir is right to some extent. Although I believe those roads are not forgotten, but it wouldn't be a bad idea if it is brought to the notice of the governor every once in a while. I trust him to do something about it.

Thank you for your understanding