₦airaland Forum

afonjaman:
Sijibomi Ogundele, the Boss of Sujimoto Construction limited has expressed desire in rewarding any person who is able to find a picture of him with MKO Abiola with five million naira.

The Billionaire enterpreneur shared this on social media as follows:

"In 1993, i met Chief MKO Abiola just before Elections.He shook my hnd and encourged me.After enquiring about my name, photographer at the event took picture of us.
Unfortunately, i dont have the picture
Anyone who can dig up this picture will get a 5 Million Naira Cash Reward"


Source:https://afonjaman.com/billionaire-boss-of-sujimotos-wants-to-give-5-million-if-you-can-find-this-picture/

nairalanda1:
The USA exports a lot of manufactured goods and servicies, and also sells a lot of agric produce, and a lot of minerals, oil inclusive. It is the world's largest oil producer.

Nigeria does not do the above, and has never done the above, even under the leadership of many of the leaders you guys regard as good.
Instead, we export oil, whose prices are so volatile, that it does not yield enough.

The thing is, seriously, check out all the countries with strong currencies. They all have high income from diversifed economies, engage in serious manufacturing and exporting the produce of the manufacturing, and also very crucially have a high tax income, and allow the free market to run things. They don't pay subsidies for everything, least of all the power sector.

Nigeria could have been there...if we removed subsides on power and petrol, enforced tax collection on everyone, diversified, yes, diversified our economy, and as someone has suggested here, allowed the free market to thrive, and fought corruption well.

The problem is, this government , and all your past governments (yes, Tinubu, and GEJ are very alike in many ways, cry about it), are all the same. They do not want to do the above, especially removing subsides, because it means a hard period of suffering that may last years. So, we rely on oil, and use oil money to pay for illusions, and when that runs out because of low oil prices, and corruption, we then turn to borrwing to pay (yes, Buhari did that, but so did all our past leaders, and even this current one )...to maintain the illusion. In the name of the poor.

Here is the thing. We are not ready to make the hard decisions. DIversify, improve tax collection, really fight corruption, and looting, and bloated government(tell me why do senators and house of reps need 160m cars for?), remove subsides on power (Ghana and Ivory coast have 24 hour power, because they privatised the sector, and let them charge a lot of money...power in Ivory coast costs 6 times that in Nigeria. I checked)...and on petroleum (and don't tell me about how other countries subsidse, because they charge high taxes or have diversifed economies . We don't. And we are not Saudi with 40 million people and 10 million bpd production), increase manufacturing, because we all want to be importer..and sell imported stuff...forgetting how it damaged local industry.


A country where over 80% of its income comes from oil and where the oil price is too volatile over the years, and where the population is too huge can never have a strong currency. We have never had a strong currency. It is just now that we are at our lowest point, thanks to bad economics, especially from APC since 2015 (for those who think I am stupid enough to defend APC or any government)....that nyash don open and we are seeing the real value of our currency.

(Yes, CFA is strong, but that is because the French pay for it to be strong).

I don't know how we are going to solve our problems. This current government is not it, and people want goodies, not sane economics.

SeriouslySense:
ZZz


Venezuela's economic collapse can be attributed to a combination of factors, including:

Dependence on Oil: Venezuela's economy heavily relied on oil exports for revenue. When oil prices dropped significantly, it severely impacted the country's income.

Mismanagement and Corruption: The Venezuelan government, under President Hugo Chávez and his successor Nicolás Maduro, implemented policies that were often populist but unsustainable in the long term. These policies included heavy government spending, price controls, nationalizations, and currency manipulation. Mismanagement and corruption exacerbated economic problems.

Hyperinflation: Venezuela experienced hyperinflation, with prices skyrocketing at an alarming rate. This eroded people's purchasing power, leading to widespread poverty and hardship.

Fiscal Deficits: The government consistently ran fiscal deficits, leading to high levels of debt. Instead of addressing structural issues, the government resorted to printing money, exacerbating inflation.

Decline in Productivity: Productivity in non-oil sectors declined due to lack of investment, inefficient government policies, and expropriations. This further weakened the economy's ability to diversify and generate revenue beyond oil.

Political Instability: Political instability and polarization also played a role in Venezuela's economic collapse. The government's authoritarian tendencies, human rights abuses, and repression of dissent led to international isolation and sanctions, further complicating economic recovery efforts.

These factors, among others, contributed to Venezuela's economic collapse, resulting in severe shortages of food, medicine, and basic goods, mass emigration, and a humanitarian crisis.

adenigga:
Source: https://punchng.com/Economic-hardship-Ohanaeze-commends-South-East-residents-for-shunning-protests

Odewaleadesoye:
- 1,800-year-old camp at the foot of Tel Megiddo housed 5,000 soldiers
- In the Book of Revelation, this is where kings are brought together to do battle



DAILY MAIL

press9jatv:
"Since we moved to the UK, I’m no longer attracted to my husband or black men"- Nigerian lady seeks advice.


https://www.youtube.com/watch?v=Jr8Q-DAagys?si=UnIB34_jNXiDmEQj

TheRareGem1:
https://www.vanguardngr.com/2024/02/fg-reduces-check-in-time-for-intl-travellers-installs-30-seconds-clearance-gates/amp/

sketching:
Protest: Kakanfo calls for calm, says Tinubu met empty treasury



https://tribuneonlineng.com/protest-kakanfo-calls-for-calm-says-tinubu-met-empty-treasury/

NairaOcean:
Look at all the food Nigerian transgender Bobrisky brought! It seems like he's not affected by the economy like others. Being rich is nice.

Wetin concern Bobrisky with Hardship!


https://www.youtube.com/watch?v=BbVUc-QnWas

michlins:
to the average Joe on the street and pa and ma in rural areas, they want results not English explanations of what went wrong or what should have happened.


Unfortunately this government love tales and reeling out policies which they don't back with real actions.

A bigger problem is on the horizon if food insecurity isn't tackled ASAP. Government should as a matter of urgency import basic food and flood the markets.

There are savings from subsidy running into billions

yorubagidi:
PEOPLE BLOCK DANGOTE TRAILER AND LOOT THE GOOD IN THE TRAILER
https://www.youtube.com/watch?v=cpjfRGDtZlk?si=sV3BJC1LKK3XsDqT

michlins:
we have more serious issues than forex. You see food insecurity, that's what matters to the 70% of the Nigeria people. Majority of us don't really care about the dollar. We just want to eat and bandits have ensured farmers are not farming.

Naira versus dollar will find their balance when speculators are done speculating. Until then, let's secure our nation first

ijustdey:
https://punchng.com/naira-devaluation-bdcs-get-dollars-at-n393-sells-for-n494/

michlins:
What business does this one have with the forex situation in a country battling serious insecurity issues?

You have bandits, kidnappers plus crude oil thieves to battle but you leave your job description to fight dollar and naira people

Ibrahimcoomasie:
https://www.vanguardngr.com/2024/02/speculators-undermine-measures-to-stabilize-foreign-exchange-market-ribadu/amp/

Kenneth4u205:
That is a big lie . We use other methods like crypto(binance usdt) to send money home to Nigeria. It's faster and the exchange rate is higher than bank rate .

Remittance has not reduced. We only found a better way that can't be traced by CBN

aderadio1:
The number did not decrease rather people don't use money gram or Western Union anymore. The money is being sent cash at hand.

You give me pounds I sent to your account in Nigeria from my account in Nigeria.

psychalade:
THIS IS THE REASON BELOW😬

The total amount of debt owed by the US government is skyrocketing.

The Treasury’s FiscalData platform shows $106.12 billion has been piled onto America’s debt in the seven-day stretch ending on October 18th.

After crossing the $33 trillion mark on September 15th, total outstanding US debt now stands at $33.62 trillion – an increase of about $17.71 billion per day.

In a new interview with Bloomberg TV, Rockefeller Capital CEO Greg Fleming says he’s concerned about the rising debt burden and the impact that America’s interest payments will have on growth.

“On the current trajectory, interest payments on the federal budget will exceed military expenditures by 2027. So higher for longer has a big impact on the fiscal side of the equation, which is relevant to all investors because the US debt situation is definitely a concern…

If we have a recession, you could see a double-digit deficit as a percentage of the federal budget.

Jallotti:
https://www.dataphyte.com/latest-reports/why-nigerians-overseas-are-not-showing-love-to-their-relatives-in-nigeria/

Why Nigerians overseas are not “showing love” to their relatives in Nigeria.

nlfpmod:
https://www.thecable.ng/diversion-of-diaspora-remittances-to-parallel-market-weakens-naira-says-cbn/amp

MeineMutter:
All those TransferGo, TransferWise (Wise) etc are responsible. The dollar didn’t come.

Government should ban them.

Only companies like Moneygram, Western Union, Ria etc really remit dollars to Nigeria.

Greed too is k..1lling our people. They want to get money at black market rate and they are complaining Nigerian Naira is not better. Eating your cake and still trying to have it.

FreeStuffsNG:
90% 2023 diaspora remittances didn’t get to Nigeria — Oyedele

https://www.vanguardngr.com/2024/01/90-2023-diaspora-remittances-didnt-get-to-nigeria-oyedele/#google_vignette

matify83:
“The World Bank said for 2023, our diaspora remittance was about $20 billion. We estimate that more than 90 percent of that did not get to Nigeria, they are being externalized. We have spoken to loads of Nigerians almost everywhere, in the US, UK, etc. They told us how they send remittance. They use Apps, and we have tried some of those Apps, they use parallel market rates. So, you take $1,000 in New York, and tap on your phone that you are sending $1,000 to someone, a Fintech, they pay the Naira equivalent in Nigeria without bringing the dollars, unless of course if the source of the money is illicit.”

Taiwo Oyedele, Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, has said.

Mateco556:
Fitch, a prominent global credit rating agency, has highlighted that the Central Bank of Nigeria (CBN) continues to grapple with insufficient foreign exchange (forex) reserves to address the existing backlog of demand within the country. The dire situation was brought to light by Gaimin Nonyane, Director of Middle East and Africa Sovereigns at Fitch, who also cautioned about Nigeria’s vulnerability due to a high interest payment to revenue ratio.

“Nigeria’s central bank still lacks the foreign exchange to clear the backlog of demand, and the country’s high interest payment to revenue ratio weighs on its sovereign credit........

https://ratecaptain.com/cbn-still-short-of-forex-to-clear-backlog-fitch/

iwaeda:
https://dailytrust.com/food-prices-drop-in-kano-taraba-kwara-niger/

olatade:
https://www.mirror.co.uk/3am/us-celebrity-news/adult-star-kagney-linn-carters-32164398

bablojnr:
Want to follow me?. I follow back.

YouTube

https://youtube.com/@africatours.

For the YouTube search Ileri Babalobi on YouTube if it's not clicking. I'll be posting two daily videos on youtube ,it would be my main medium.

Instagram: https://www.instagram.com/ileribabalobi/

Twitter: https://twitter.com/ileribabalobi

bablojnr:
https://independent.ng/guinness-world-records-nigerian-traveler-sets-to-tour-54-african-countries-by-road-sea/

https://allure.vanguardngr.com/2024/02/ileri-babalobi/


My name is Ileri Babalobi and I am trying to become the 1st African to visit all 54 African countries without using a plane. In the process,I plan to set 2 Guinness world records and Raise money for the Nigerian Red Cross. I expect to take about 6months. Here's why I'm doing this

I've been backpacking for nearly 10 years now. I have been to all 36 states of Nigeria, and when I lived in Ghana, all the 16 regions there as well as over a dozen African countries. i've been trying to visit all African countries for a long time and I'm finally close to doing it

On the trip I'll be exploring the culture and visiting the Tourist Areas of each place I visit and stream it on YouTube here https://youtube.com/@africatours . I've always been interested in how people in other cultures and places live. Which brings me to why I'm making this trip . ..

1) Im very Pro Nigerian and without being facetious, I've always wanted to do something for her Gratis . I hope to raise a lot of money for the Nigerian Red Cross. The official name of the attempt is Naija to the World and at each Border I'll take a picture with the Nigerian flag.

2 I want to show how people in other countries live
3 I would be promoting the Borderless Africa campaign by Africans Rising, which seeks to remove barriers to migration ( such as expensive visas) among African Nations.
4) it's a Chance to fulfill a life long personal dream .

I'll leave from Lagos in March and I plan to do a daily summary here on nairaland everyday , as well as two YouTube videos of the days adventures.

Advice and tips are welcome

@

yashau:
Yesterday, Governor Sanwo-Olu inspected the progress of work at the stations along the Red Line Rail in anticipation of the commissioning.

It's crucial to emphasize that the railway tracks are designated for transportation and not for commercial activities or as a market space.

The railway tracks are NOT a market place for you to display and sell your wares.

Dpharisee:
Chai all these fantasies, you never marry that's why you are saying this, mood swings are not dependent on menstrual cramps or hormonal cycle change, E go shock you that during her menstrual cramps or cycle is when she may want you most to sleep with her.

She can have a conversation with her mum that didn't go well and has nothing to do with you and next thing she will transfer the aggression to you for the next 2 days, mood swing don set over something that has absolutely nothing to do with you

Yankee101:
The same military built the 3rd mainland, National theatre, festac town, created most of the new states, created most of the top universities, states private universities in the country, built all the SUBEB headquarters, built most of the existing federal roads in nigeria, even Abacha set up the PTDF run by buhari, almost all the major teaching hospitals were created by the military, etc Too numerous to mention

All the killings that have occurred during the civilians as Boko haram, bandits, IPOB, kidnappings has far outweighed the military era

Buhari banded twitter for a while as a civilian, elrufai has jailed 2 journalists as governors, plenty of people have been arrested in Nigeria for critisizing civilian regimes

They created the constitution you’re now using

Dpharisee:

E go shock you say that your Pastor preaching about how loving Mummy G.O is at home has been sex starved in the past several weeks for no just cause.

You don't know that women have mood swings and no matter how romantic you think you are there are times your touch will be irritating to her