₦airaland Forum

I hate hearing this particular words from Buhari "face justice".
I ask, how many bandits, fulani terrorists, boko haram etc have faced justice in the last 7 years?
Buhari is a big time idiot.

gretop86:
I hope this happens but the data online shows Canada real estate has never budged since 2008 even when there was a huge slump in housing prices in the USA. And this has really pushed people into the FOMO. Imagine you didn't get your house 2yrs ago, by now you'd be more eager to lay your hands on something because of what you saw and knew 2years ago.



Well current increase does not have any major impact yet. Home owners will only see a $15CAD increase for every $100K CAD. I really wish they could speed up building permit approvals and also drive housing densification. NIMBYSM is also a major issue.

You are right. However this is the first of rate increases expected this year so we could be back to pre pandemic rates by Q1 next year.

The knowledge that rates are going up will drive down demand a bit. When I entered the market, the forecast then was that rates will remain at the bottom for at least 4 years as the economy tries to rebound from the pandemic. Since the situation has changed, buyers would start factoring that reality too.

Whatever the case, the current craze is unprecedented and unsustainable and people will get hurt at some point.

gretop86:
My people in the house living in Ontario to be specific. I've been doing my research on the real estate market and what I've seen so far has not been encouraging. I see houses listed for $1m CAD that costs about 50% less in the US. Is the Canadian real estate a bubble or there are some strong fundamentals driving these crazy prices other than supply way lesser than demand?. I still can't wrap my head around a house selling for $150,000 - $250,000 CAD above asking price. Wetin dey sele gan gan? Abeg make una open my eyes to what I'm not seeing from the data readily available. Is there any plan to fix this issue? Cos if it continues this way, I might just use this country as a means to change my passport and get the hell out to a country that is much reasonable.

Housing markets in California and New York is as crazy as Ontario and British Columbia so it depends on where you are looking at in the States or Canada. Alberta, Manitoba and Atlantic Canada is not as crazy as Ontario and BC. But I get your point, the nonsense happening in the housing market in those areas is unsustainable.

I entered the market at the earlier stage of the market distortion. You can't believe that I'm already making a $200k cad profit in just 2 years, this is crazy. I have thought about taking my profit to go and buy a reasonable house in Alberta since I'm working from home but my love for Ontario is pulling me back

But I think people should exercise patience, a market correction is coming soon. The indices that drove the market into an unprecedented distortion won't last forever.
During the pandemic when life was almost shut down, savings increased as people spending dropped. All of a sudden, people had extra cash and with rock bottom interest rates, cost of mortgages became very low and affordable. People were now comfortable engaging in bidding wars as an extra 200k added little monthly payments to their mortgages. For the first time, the share of variable rates exceeded that of fixed rates as people tried to capitalize on the record low interest rate. I got variable of 1.2% and I banked that rates will remain low for at least 4 years. This created FOMO (Fear of missing out) as demand over stripped supply by far, adding maximum pressure to the market. Then you have the Chinese in particular who are flocking to Canada in record numbers adding more pressure to the market. I lost my first bidding war to a Chinese in the earlier stages who put 250k above asking while I put 50k above asking. Those Chinese are rich oooo.
But the good thing for buyers is that the market correction will happen soon. All those people who entered the market as a result of FOMO will start exiting the market as interest rate rise very fast. We are expecting a 3 time rate rise this year alone. Many people didn't expect rate rises to happen soon plus an increase in inflation as they took more than they can handle. They are now going to start seeing the effect of those 800k houses on their mortgages and either they start defaulting or they sell it fast. So more houses will come into the market increasing supply and with reduced demand, we will start having a balanced market and houses will now have their true values instead of these inflated values we have now.

boundachuks:
very expensive mistake

Very stupid mistake. Imagine a nuclear armed country firing a missile to another nuclear armed country. If the missile was heading to the US, the US would have assumed it was a nuclear attack and fired it's own nuclear weapons back immediately. This is why not everyone should have nuclear weapons, it is too risky.

I won't be surprised. There is a system some state governors are using now in their states. Every month they pay some people some percentage of their salary and leave the rest of the workers. I think Rochas started it and most governors copied it

You could get your salary this month and will not get next month. You can't accuse the government of owing salaries because at every point in time, he has paid some workers. With this, workers can't mobilize cos not all are being owed.

A lot of civil servants no longer know their salaries cos it varies every time. Unfortunately organized labour is dead so no one to fight for the workers. Right now, most civil servants now pray to be included in the salary list every month cos it is not a given.

Taking loans again won't work

Removing subsides so that investment would build it, without government needing to take loans, or anything to build the refineries...same way it workd for GSM....would do the trick.

We are already loaned up. Our usual bankers are fed up with us.

And anyway, you did not read my quote......we are getting into big budget deficits paying subsides. It's the reality. and we have to face it. We are getting to the point where states won't get money from the government.

Yes, subsidy has to go. YES...prices would be high. BUT...we would gert refineries, and the value of the naira would improve, plus we would have more money for other things.



And it's sad, and I don't like it, but what else can we do.

Good e'en.

"Taking loans again won't work"
This is why I said the loans used on railways would have served better on building brand new refineries in the last 7 years.

It is not realistic to remove subsidy at this point. With crushing high inflation, high unemployment rate and no electricity, Nigerians will be decimated. There would be unprecedented increase in crime, rituals and the country will at some point become ungovernable.

It is either we keep paying the subsidy for now and waiting for Dangote to start refining before we remove it or we take more loans and build refineries like I stated earlier.

To suggest removing subsidies now and have petrol sell as high as N500 in a country where people are still earning as low as 20k a month is not just heartless but criminal.
Is it a crime to be a Nigerian?
I rest my case.

backbencher:
For the record, here is why I oppose subsidies....and have done so for the last ten years.

Why are oil subsidies bad economics?


Every year, the Nigerian government runs huge budget deficits that could have been avoided if money budgeted for oil subsidies was allocated to other critical projects.

Subsidies should be used to spur investment in activities that raise the productive capacities of an economy (such as education, health, entrepreneurship, and infrastructure). They should be targeted at strategic sectors of the economy. They should not be used to finance non-durable consumption items like petrol.

Oil subsidies are inequitable, as they transfer the national wealth to those who own several cars and add little or no value to the national economy.

In lieu of subsidies, the government should invest massively in public transportation and boost the transport allowances of public-sector workers.

Removing fuel subsidies would also be good for the environment and safety on Nigerian roads. When motorists pay the full economic price for petrol, they will drive less, emit less pollution and reduce the incidence of road accidents.

There should be a clear communication to Nigerians that the removal of fuel subsidies favours the poor, and eliminates one of the several perks that the Nigerian elites undeservedly enjoy.

SAUCE:Fuel subsidies in Nigeria: they’re bad for the economy, but the lifeblood of politicians

I am no government symphatizer, and a lot of people don't like me on this site because I support removing subsides. I have supported removing subsides for ten years, and it is wrong to think I support APC because of my stance, especially since APC hasn't removed subsides


MODIFIED

Two reasons why I support subsidy removal. When in 2012, government tried to remove subsidy, that was when I was introduced to the concept of landing costs and so forth. Add the comments of NOI, SLS and the government 'propaganda' against subsidy that made sense for the first time, and then I woke up , started reading, and started asking questions as to why we should support subsidies.


MODIFED 2

Taking loans won't help much. Remove subsidy and the investment for refineries would come in, and government would save money. But no, we are keeping subsides and about to go into debt for 3 trillion naira doing so..

I am also in support of removing subsidy like you. However, the difference is that I'm proposing a workable and less painful way to achieve it that will be a win win for the people and government but you seem not to be interested in that option. That is why I'm wondering on whose side you are. Read my initial replies to you again.

backbencher:
.

To be frank, politics aside, we need railways.



If we remove subsides, we can have refineries without government spending a dime, on the other hand. Even with higher prices for fuel.

I didn't say we don't need railways. I said there are more important things to railway at the moment.
It is difficult to remove subsidy in a situation where there are no local refining capacity. Nigerians will suffer big time before things get better.

This is why I suggested that the govt borrow money, build the refineries, remove subsidy after completion and sell it to the private sector. This is common sense. It will make an instant impact without Nigerians having to suffer much. We can use the money saved on subsidies to start building trains. It's all about priorities and timing. If this has been done in the last 7 years, we wouldn't be in this situation.

Are you sure you are not an indirect government apologist? I'm beginning to suspect you.

backbencher:
The problem is

1.Money that could be used for refineries is being spent on subsiding fuel.

2.Subsides are bad for another reason...they cause budget deficits...which lead to more debt. Especially when subsidy costs rise.

What I'm saying is the money they borrowed for railways would have been used for refineries instead. You can't compare the trickle down effect refining would have done to Nigeria to passengers trains.

Management is all about getting your priorities right and channeling your focus to things that would produce better outcomes.

We should borrow money to fund projects that are critical. I'm not saying trains are bad but there are more critical aspects that would produce better results than passenger trains

backbencher:
That's because in order to get a refinery at home, subsidy on PMS has to go first.

Same problem his predecessor had. Signed an agreement to build 3 refineries with the chinese, which were not built because subsidy was not removed completely.

If subsidy does not go, the refineries cannot operate profitably. Had we removed subsidy in 2012 or 2015 or 1993 we would have had refineries galore.

But everytime subsidy removal has been suggested, people come on the street and cry poverty. People threaten to come on the street and cry poverty. So, subsides remain, and investors keep out.

At the end, someone had to take an unpopular but good decision, but no...

What Buhari should have done in the last 7 years is instead of building railways that affects only 1% of the population, he should have built refineries instead. After building brand new refineries, he remove subsidies and sell the refineries to the private sector.

Investors will rush to buy new refineries after subsidy is removed. It would have saved time and solved a lot of problems today. Instead he was chasing vanity projects that wouldn't make much difference.

ValCon888:
Of course, no one doubts De Gea's quality.
But if you're making many saves per game, it means your defenders aren't making enough blocks and tackles.

Your defenders are not preventing goal-scoring situations.

The statistics only points to one thing: Man United has one of the worst defence in the Premier League.

It starts from the midfield. The midfield is rubbish, all of them from Pogba to Matic. They can't keep the ball, they can't cover grounds, they can't tackle. At the end of the day, the defense is badly exposed and they are not top class either.
If at the end of this season, utd don't sell all their midfielders and buy solid guys, I'll know they are not serious.

Of what use is Buhari to Nigeria sef?
Tomorrow, Nigerians will expect the white man to respect Nigeria. A president will be comfortable taking medical treatment in another man's country without shame. Too bad.

festacman:
President Putin should note that it is a FATHERLY Russia rather
than a BULLY Russia that will make neighboring countries not to look in the direction of NATO. Bullying and threats will only breed suspicion and contempt among neighbors. Imposing puppets as Presidents will only make the general populace of those countries resent Russia. President Putin made Russia's neighbors enemies rather than friends.

Although this war against Ukraine has sent a "get yourself armed" message to other countries, the only way forward now is for President Putin to clean the slate and gather his diplomatic experts to develop a new approach to relating to neighbors.

If anything, all the members of defunct Soviet Union should be more comfortable and assured in dealing with RUSSIA as a big brother than dealing with EU, USA or NATO.

Exactly my brother. That is what Putin fans do want to understand.

In reality, if your own brother prefers to relate with an outsider than you or prefers to go and live with an outsider when you are there, then the fault is yours. There is definitely something you are doing that makes your brother uncomfortable around you. Putin should use this opportunity to evaluate his strategy on his relationship with his neighbors if he has sense.

ademola721gmai:
I think Putin problem and fear is NATO and not the EU. They know both are American puppets .

See no nation in this whole world will attack Russia. We are talking about a country with the largest nuclear arsenal in the world. So I don't know where Putin is getting this fear from. His nuclear weapons alone has guaranteed Russia can never be attacked by NATO or US

Putin wants to be equal to America but unfortunately for him, he does not recognize that America and the west status in the world was not obtained by their military or nuclear weapons but by their shared value of open democracy, freedom and rule of law. This is why far majority of people of the world migrate to the west and take up their citizenship. They have built societies that are attractive to people. We are talking of societies where individuals can take the government to court and win them. Who born you as a Russian or Chinese to take the Russian or Chinese government to court or even criticize them openly. If you contemplate it,you will disappear.

If Putin had spent the last 22 years he has been in power building an open democratic society like the west instead of trying to be a "strong man", there would be no need for these countries to look west cos they would have been very comfortable with Russia.

seunny4lif:
Oh
I thought they said sport and politics are different.
When Arabs don’t want to play football with Israeli, same people said no sport and politics together.
When UN imposed sanctions on NK, sports was not politics.
NATO bombardment of Libya and Iraq?

Bros, let's be realistic here. If Ukraine has fired a missile into Russia or sponsored a terror attack on Russia and Russia invades like this, I don't think Ukraine will get this sympathy.

Russia annexed their territory Crimea, sponsored rebels in eastern Ukraine. As if that was not enough, he recognized the breakaway states, he didn't stopped there ooo, he invaded Ukraine just because Ukraine wants to be close to the west. Is it by force to align with somebody? Will you be happy if America or China forces Nigeria at gun point to align with them or get invaded and bombarded like Ukraine?

Putin needs to learn that in 21st century, alliance is not by force. Any country can choose their alliance. If Putin wants to keep Ukraine in its sphere of influence, then the logical thing to do was to befriend Ukraine, help them with cheap money, build their infrastructure etc and make Ukraine feel at home with them instead he wants to use intimidation and force.

Putin has damaged Russia beyond repair because of his stupidity. Very soon, the number of countries Russian citizens will be able to go will be the same with North Korea cos Putin has been trying so hard in the past 22 years to make Russia be like North Korea

Kingcalls:
I hope America knows the can never invade any nation again after this

Wouldn't that be great? No nation ever invades another nation ever again. Any country contemplating invading another nation should learn from Putin's arrogance.

Russia and Belarus should create their own sports and tournaments and be playing against each other

Lol.

Nigerians no dey disappoint. Always looking for an opportunity to game the system. They should not spoil things for other Nigerians. Later they will start shouting racism

cosmatika:
It's of no use, when they've already banned your ass5 from flying over EU air space.
Putin wants to turn Russia to a pariah state

Putin has been trying so hard in the past 22 years since he has been in power to turn Russia into a North Korea. A feared country with a "strong man" leader but useless in the international community. Very soon, Russian citizens will only be able to travel to the same number of countries as North Korea.

21st century power is not by nuclear weapons.
Others are progressing and moving forward but Putin wants to recreate Soviet union in this age and time.

If you can't migrate legally to western Europe or North America stay back in Nigeria. It is better to stay and suffer in Nigeria than to stay and suffer in some of these 2nd or third world countries.

drake99:
couple of friends of mine who traveled abroad now calls me more often than when they were here in Nigeria. Sincerely speaking, most of them doesn't give a damn about me while they were here.

Another thing I noticed is this, anyone that came back from abroad usually don't want to go back. you know when schools are on holidays, children usually wish inside them that the holidays are prolonged.
That's exactly how people that came back from abroad behave (not all though)

they act so reluctant to return to their base, instead of hurrying to leave this shit hole like we addresses it.

What's your experience

Being lonely is a function of where you reside and who you are. It is not an abroad thing. An Igbo man who hasn't left the east before and suddenly finds himself living in a town in Osun will be lonely. A yoruba man who hasn't left the west before but finds himself in a small town in Ebonyi will definitely be lonely. But if you live in Lagos or PH for example, no matter where you come from, you will likely not be lonely

This is the same in abroad too. You can't be lonely in places like Houston, London, Toronto etc cos there is a large community of people who are like you except you are a kind of person who wants to isolate himself or herself. But if you happen to find yourself in one small white town, you will definitely be lonely.

I live abroad and it has been lots of fun.

Shameless man

FERNANDEZISBACK:
Now he has a point..let me see who's sensible enough to counter and prove his Statement baseless..
The countdown starts now..

How many people would have died if this same protest was done in Nigeria in the last 3 weeks. There lies the difference.

Do you know what it means to use heavy trucks to block roads and prevent movement of goods and service between Canada and the US? The money lost everyday? Yet the government has shown restraint for 3 weeks now. No soldiers on the street, no police shooting, no tear gas and everyone has been trying to get a peaceful resolution.

How many countries will tolerate that?
I live in Canada so I am seeing the protest in real time and not through the media. I am not a supporter of Trudeau or those liberal nonsense.
However, Lie Mohammed should learn something from this. You give people chance to protest, give them time and not send soldiers and AK47 wielding policemen to stop a protest like Lie Mohammed will do. Nobody has died or injured in Canada as a result of this protest 3 weeks after, that should at least teach Lie how developed society work instead of trying to justify nonsense

BrodaAgbaya:
Hi guys,

I was planning to travel out to UK, Germany or any other stable European country for my Master`s by September of this year of which i will be able to raise 2million from my pocket and then borrow about 2/3million from a person i know for some fees then get there are do part times jobs to complete my tuition fee.

After some thoughts, i realized this wasn`t a really smart move cos i have a good job here in Nigeria where I'm paid above 200k each month, This will increase to above 300k in the next 2months still with some bonuses.

Is there any sense in dropping all these to go to a place of uncertainty and start leaving from hand to mouth cos i`d be struggling to pay my debt and tuition??

One of the driving forces towards wanting to travel out is the fear of 2023 elections and the fact that many of my friends we finished together are all travelling out. Yeah, i know the second reason doesn't make sense, but that`s just me being honest here.

My plan now is to keep working here in Nigeria probably for about 3/4 years more, live the baby boy life, develop relevant skills then get a job over there or go for an MBA. 3/4 years from now i should have saved more than 2million for travel.

Also note i will be turning 26 towards the end of the year, so i think there`s still a bit of time on my end.

I need advice from you guys, is this a sensible idea putting into consideration things that could go wrong pre/post elections, the current standard of living in Lagos and the current and future exchange rates.

I have noticed the crazy rush to leave the country among we youths but i have also noticed that those that have good paying jobs in multinationals, fintechs, banks, govt etc are not bothered about leaving the country. Also noticed most of my friends who left were all earning less than 100k in salary.

Please tell me what y`all think??

Mods in case reactions are much, abeg push to Front page

I won't support borrowing money for the move except if you are going to study hot IT courses like software engineering, AI,Cloud computing etc or you are going there as a permanent resident.
If you are going to study in demand IT courses,chances are that you will get a job quickly, stabilize and pay off your debt.
But if it is just ordinary course,it is not advisable as getting a job quickly is not guaranteed.
Abroad is very sweet and easy but it depends on how you arrive and what skills you have so people need to be very careful. There is a difference between moving abroad as a permanent resident and moving abroad as a student without rich parents.

But the good thing for you is that you are young and still have the time to recover from setbacks. If you look at it and still want to take the risk, do it now before hitting 30 cos your chances of settling down properly abroad reduces with age.

Is there any difference between public and personal funds for Nigerian politicians?

They loot the public funds into their personal accounts and use it for medical treatment or do these guys expect that they would fund their medical tourism directly from the public account? Naija politicians are smart thieves naa.

The bill won't make any impact .
They should rather pass a bill that would ban current leaders to seek medical treatment abroad. If you want to go abroad for treatment as a leader whether local, state or federal then resign your post. Let us know people who can forsake their priviledge cos they wants to lead Nigeria with all their heart not these current and past idiots populating the leadership space across the country.

backbencher:
I own a car and subsidy means i may end up spending one third of my monthly revenue fuelling the car. I havent even touched on generator costs.

If Nigeria keeps on paying for subsidies we will get into more and more debt.

I think i dont want more debt. Thanks.

Better subsides go and refining at home becomes more profitable and the value of the naira improves due to forex savings

P.s answer me.please

Should government set your prices so that the poor can buy the things you sell at an affodable price? How would you cover your resulting losses.?

What you are saying makes sense for an ideal society. However, you are assuming Nigeria is a normal country unfortunately it is not.

Whether you remove subsidy or not, it will not improve the standard of living in the country. You guys should understand that Nigeria is a peculiar country and normal economics will not work.
The solution is to change the structure of the country and governance into regions and let every region start working out their own unique Solutions to pressing issues.

There is nobody on earth that will make Nigeria work in this current state but greed will not allow Nigerians to change course.

Anxiety2022:
I just got diagnosed of been HIV+. I don't even know what to do or where to start at this phase in life. Dream looks shambles. I had that HIV positive patient must take it's drugs everyday in other to survive. I really do not know where to start. I feel like taking my life away. Who can give me a concrete advise on how to survive this. The trauma is much on me. I really do not know who to ask for favor. I am looking forward for your advice.

Secondly is the drugs affordable?

HIV is no longer death sentence like it used to be decades ago. It is now manageable. Just register at the appropriate places and get free drugs to manage the situation, you will live a normal life.

If you don't mind, can you share how you think you got it? Your lifestyle that contributed to the situation? I believe you now have a duty to educate others using your experience. A lot of people still don't believe these things are real and hearing real life experiences from people like you will go a long way to educate their minds.

It is well with you.

When and where next is he going to?

Predict correctly and win $1k cash

mu2sa2:
This boy calling himself bobrisky is stupid and an idiot.

He is not stupid. The people who are stupid are those bringing his nonsense story on the front page.

okuta007:
What exactly is your point ? That I am lying or what ? well you asked me to read the income tax rates for the UK and I just did - and I pasted it below - in fact I am almost right on the spot because it’s 20% taxes for the £9 income bracket so £72 earnings attracts £14.4 taxes which makes the take home pay £57.6 so because I was wrong by .6 which is not up to £1 you are blabbing ?

now let's do some arithmetic and relate it to your response - 8 hours per work day x 20 work day a month = 160 hours per month

160 x 12 months = 1,920 hours a year

1,920 hours a year x £9 rate for your cleaner work = £17,280

Tax rate for this income bracket = 20%

160 x 9 = £1,440 and pays a tax of £288 and takes home £1,152 please tell your audience this reality of high taxes and the living standards of the UK and purchasing power of the pounds sterling in the UK as compared to that standard of living - stop deceiving people!

Bros, that is not how tax works. An earning of 17,280 means he will pay taxes on 17,280 - 12,570 = 4,710 only.

Tax system in the west are graduated meaning the first money on the tax band is tax free 0%. This means 12,570 of his money is tax free. The balance of his earnings is taxed with the next tax bracket. So in the end, he pays 20% of 4,710 which is around 940 a year and 78 per month.

Even though his employer may likely deduct 288 per month from his paycheck, he will get the balance back at the end of the year from the government as tax return after filling his taxes. In summary that guy will end up paying 78 pounds per month.
What I described to you is how it works in Canada but I'm sure that is the system in the UK as all these western countries operate in the same way.

frog12:
who's the alternative ?

The alternative is China or Russia but they are messing up for the reasons I highlighted