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Konquest's Posts

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Politics › Re: Hunger In The Land: Top Economists Hand To-do-list To Tinubu by Konquest: 9:29pm On Feb 11, 2024
Politics › Re: How Nigeria’s Economy Nosedived In 10 Years by Konquest: 9:29pm On Feb 11, 2024
Business › Re: Herbert Wigwe's Cryptic Post Hints At ‘End Of Life’ by Konquest: 9:08pm On Feb 11, 2024
Politics › Re: UK Minister, Kemi Badenoch Arrives Nigeria For 3-day Visit by Konquest: 9:05pm On Feb 11, 2024
Politics › Re: Citizens Groan As Rice Hits N77,000 Per Bag by Konquest:
iwaeda:
https://punchng.com/citizens-groan-as-rice-hits-n77000-per-bag/
The Punch headline is pure sensationalism!
There's NO where in this badly written article where anybody who was interviewed said a 50 Kg bag of rice costs N77,000 as indicated in that headline. N72,000 was the highest quoted from a woman for a N50 Kg bag of foreign rice in Anambra State. Even 50Kg bags of local Anambra rice is N49,000 in reality. This Punch publication is the result of BAD JOURNALISM tbh.

Majorly, I discovered that it's in those so-called big cities that massive greed and rampant profiteering exists and this is where price control measures are needed to stop the nonsensical price increases by middlemen and hoarders and apply heavy punishments on them.

In the many rice-producing areas of the North, 50 Kg bags of rice can be got from slightly less than N50,000. There are folks even here on NL who send money to trusted people or intermediaries in the North (or other rural farming communities) to bring rice for them in Lagos and other Southern cities at cheaper costs of NOT more than N52,000 (inclusive of transportation) so this hyperinflation in foods in the big cities in Nigeria is majorly ARTIFICIAL.

True, PMS subsidy was removed and the USD to Naira exchange rates have spiked, but the BIGGEST threat to Nigeria from my intelligence gathering (and that of other sound minds) is the massive GREED that's inherent in a lot of Nigerians to cheat their fellow Nigerian citizens through rampant profiteering. Period.
Politics › Re: Reminder: Sunday Oliseh Is NOT Igbo by Konquest:
FreeGlobe:
As we begin to criticise Sunday Oliseh over his decisions, tactics and losses let's remember he is not Igbo. Let the criticisms be based on it merits. Again, Sunday Oliseh is NOT igbo!


https://www.youtube.com/watch?v=T8g3fQn3zuA
Bump.
I just got to fully watch this video after so many years.

Wow! That was a fantastic TEDx talk from Sunday Oliseh. Very brilliant convo that got me laughing and smiling.

He did say he is from Abavo (the second largest town after Agbor in the Ika South LGA of Delta State) and was born and raised in Lagos State. He speaks English, French, German, Italian, and some Dutch. (He speaks Yoruba as well though).

Sunday Oliseh was an awesome midfielder back then who would accurately shoot the soccer ball from the midfield to Rashidi Yekini (an attacker) who would then do damage to the opposing sides by smashing the ball into the net.

Powerful memories.
Sports › Re: Chelsea Offer ₦39 Billion For Eagles Star - Pulse Sports Nigeria by Konquest: 4:00pm On Feb 11, 2024
DonBabaNG:
Chelsea continue their pursuit of Michael Olise after making a bid above the winger's release clause

Premier League side Chelsea have offered Crystal Palace £39 million for winger Michael Olise as they look to continue their spending spree under new owner Todd Boehly.

Chelsea looking to pay over the odds for Olise
The Eagles star had been on the radar of French giants Paris Saint-Germain before the summer transfer window opened and is also a rumoured target for Premier League champions Manchester City.

Olise reportedly has a release clause in his contract with Crystal Palace that will allow him to leave for £35 million, but the Blues have gone above the prescribed price to fast-track the deal.

They hope to beat Manchester City, who are the only other team keen on Olise with the impending departure of Riyad Mahrez to Saudi Arabia.

Chelsea looking to sign top Premier League talent
Olise is a top Premier League talent, and the 21-year-old is potentially one of the best players in the league in the coming years.

Chelsea want to continue their pursuit of young talent as they build for the future and Olise would fit perfectly into their club's direction despite already being experienced in league football at a young age.

The left-footed winger played youth football for current suitors Chelsea and Manchester City, as well as Arsenal, before playing professionally for Reading for two years, winning the EFL Championship Young Player of the Season in 2021.

Olise has been a revelation since joining Crystal Palace and was named the Eagles’ player of the year in the 2022/23 campaign, where he scored two goals and assisted 11 times in 37 matches.

Source: Pulse Sports Nigeria


https://www.pulsesports.ng/football/story/chelsea-offer-naira39-billion-for-eagles-star-2023072404001817118

https://www.youtube.com/watch?v=DHBTUNhKr-A
Sports › Re: AFCON: Terem Moffi Replaces Injured Victor Boniface by Konquest: 3:14pm On Feb 11, 2024
HonNL:
Moffi’s inclusion is now subject to the approval of the Confederation of African Football (CAF) and his Ligue 1 club, OGC Nice.
Moffi’s inclusion is now subject to the approval of the Confederation of African Football (CAF) and his Ligue 1 club, OGC Nice.
Sports › Re: Photo Of Alex Iwobi And Terem Moffi's Fathers At UNN In 1985 by Konquest: 3:08pm On Feb 11, 2024
Ibrahimcoomasie:
Memories from 1985 Law Faculty mates, who are members of the University of Nigeria Nsukka team

From left to right is:

1.Chudi, also known as 'Isima'
2.Leo Moffi (a goalkeeper and father of Terem Moffi of Super Eagles),
3. And the formidable Chuka 'Mehalla' Iwobi, (an attacker and father of Alex Iwobi of Super Eagles).

Both dads played together and were exceptional ballers, same now as the children .

Image courtesy of Moor Sport.
Image and text from: Nze Ed Emeka Keazor

Goodluck to the Super Eagles today
Frozen in time and space.

Politics › Re: Fayemi Mourns Tragic Passing Of Herbert Wigwe And Others In Helicopter Crash by Konquest: 3:02pm On Feb 11, 2024
sukkot:
All these politicians done lose one plug to their offshore akants undecided
Offshore "Akants" cheesy grin
Crime › Re: NDLEA Arrests Pregnant Lady, Insurgents Drug Supplier, Intercepts Illicit Drugs by Konquest: 2:55pm On Feb 11, 2024
chisomkachy:
Pregnant lady, mother of 3, three other women among 24 suspects nabbed in Anambra, FCT, Kano, Ondo, Edo, Lagos raids



https://www.instagram.com/p/C3M7COnsWF5/?igsh=ZGNqMXo1Z3RoYmd0
Politics › Re: Why Do People HATE Ibadan? by Konquest: 2:52pm On Feb 11, 2024
hedonister:
Whenever Ibadan comes up on social media, it's usually to make jest of the city. The city is usually used for comic relief and most times what people use to deride the city is either the accent, their supposed lack of exposure or theiir brown roof.

The brown roof one made me decide to visit Ibadan recently just to show the other side of Ibadan that people do not show. I mean, yes Ibadan has some areas with brown roof so does most Nigerian cities.

However, what people fail to show are the nice area of the city. Note that Ibadan is arguably the largest city in Nigeria and as such has a myriad of neighborhoods both for the rich and the poor.

So, like I said, I went to Ibadan recently to show you what Ibadan looks like.

On a side note, I think Ibadan really has nice roads.

Watch the Video of Ibadan


https://www.youtube.com/watch?v=CJh-KyjTB8E
Food › Re: Chicken And Waffles For 7500. Pics Included. Fake Lekki Life by Konquest: 2:36pm On Feb 11, 2024
Gadafii:
I can’t lie for you, I don’t really fancy lekki like that, I would rather be in yaba or surulere instead of lekki, Infact Gbagada is the best place to be in Lagos

Centrally located, access to food markets, the lagoon, hospitals and hospitality, average night life, trench food remarkably cheap and accessible, house rent is spiking the last two years tho

But it’s nothing compared to lekki.
European Football (EPL, UEFA, La Liga) › Re: EPL Chatroom - All Discussions by Konquest:
BlueRayDick:
The Wigwe's 💔
Indeed, the 3 Wigwes will be missed... Herbert, wife, and son. 💔
Food › Re: Chicken And Waffles For 7500. Pics Included. Fake Lekki Life by Konquest: 12:14pm On Feb 11, 2024
sukkot:
yeah it’s usually the initial shock that gets you when people pass on

Hehe Chief I am sure you can handle a super eagles game . I see the super eagles winning. Anything less would be a shock
Sukkot, if they win like you said, that'll be good for Nigerians worldwide... and the game of soccer would have been elevated one notch higher by that.

Thanks for the deep insights as usual.

Cheers!
Food › Re: Chicken And Waffles For 7500. Pics Included. Fake Lekki Life by Konquest: 12:05pm On Feb 11, 2024
sukkot:
yes Sir Konquest what it does mane ?. Trust you are well. Yeah my sweet tooth is for fruit juices but then again it’s natural sugars so I refuse to believe it can affect this god-body 🤣🤣🤣🤣

Yeah Herbert, well listen life must happen and as such I do not attach much importance to people and things because they perish . Mortals. You know he came and did his thing and now he exited but keep in mind we never die. All he did is shed his body and return to angelic form. And now he is not encumbered by the flesh. The good book does say to be absent in the flesh is to be present with God and so technically this is a celebration and not a mourning . It’s all about your mindset. But of course those who he knew personally will miss seeing him but for us who never knew him, I chose to see it as a celebration as he has cast off the flesh and returned to the realm of angels. The flesh is our prison. And that’s how I see it. So unless it’s someone I know personally I never see death as bad and if it’s someone I know personally it’s just that I would miss seeing that flesh suit but still it’s a celebration.

Yeah have a great Sunday Sir. Are you watching the AFCON ? Who is winning ?
I feel much better after reading your post. Indeed, you're right about the nature of man and the movement to a "higher state of vibration" at the point of the death of the physical body. It's just the initial shock you get from the translation of someone or people you know that hit me really hard.

Ha! grin I will NOT be watching the AFCON final match live. A number of folks (6 Nigerians or more passed on from shock in Cote d'Ivoire and Nigeria during the semi-final match with South Africa). Those kinds of matches featuring Nigeria are usually tense and enervating for viewers. But I'll get the results after the match and celebrate.

The match will be filled with covert and overt intrigues on the part of the Ivorians because the Ivorians are playing on home soil. But the match can go either way. My take is that may the better side win at the end of 90 minutes.
President Bola Tinubu's presence in Cote d'Ivoire as reported might just motivate the boys to play better and win the trophy.
Food › Re: Chicken And Waffles For 7500. Pics Included. Fake Lekki Life by Konquest:
sukkot:
yeah it's a good season for me. I need to go play the lottery. Lol. Now with the syrup I gotta he honest with you the waffle was sweet enough as it was and the syrup would have been sweetness overkill. I mean sweet as in sugary not sweet as in the food was great. So I didn't touch the syrup. To be honest with you it was just a wrong choice for me. It was an experiment went wrong. I rather have Amala and ewedu for breakfast
I'm just logging in and saw your mention on this thread that I haven't replied to.

Indeed Sukkot, too much sugar isn't the best... Although I must confess I have a sweet tooth. I want to start using more of stevia as a sweetener. That's much healthier than the regular sugar from sugar cane. Pepsi and Coca Cola already have stevia sweetened versions of their products.

You might have heard, Herbert Wigwe of Access Bank and Abimbola Ogunbanjo (the ex-NGX boss and business tycoon, Chief Chris Ogunbanjo's son) passed on in a copter crash in the Mojave desert late Friday night in the U.S. on the way to the Superbowl finals due on Sunday. I'm still reeling from the shock. Wigwe's Special Assistant (Faleye Olusola) escaped the copter crash because he opted to travel by road because of the weather (It makes one think deeply about these near-death situations).

Enjoy the rest of your day Sukkot.
Travel › Re: Video Of The GUO Bus Attacked Along Lagos-Benin Road, All Passengers Kidnapped by Konquest: 7:14pm On Feb 10, 2024
Jakumo:
The rate at which even the poor are being kidnapped en masse from buses plying Nigeian roads has now assumed epidemic proportions. The kidnappers are utterly ruthless and have no qualms about opening fire on fully occupied buses to kill the driver and anyone else in the line of fire, so as to bring the vehicle to a halt and thereby abduct all passengers at gunpoint.

There is a discernible pattern to the manner in which passenger buses are suddenly being targeted by kidnappers virtually all across the Nigerian federation from the desert northern reaches to the Atlantic seaboard. A highly organized, heavily armed CARTEL is now actively hunting for human beings on ALL Nigeria's highways. This state of insecurity is very similar in many regards to a state of war in the land, with no immediate prospects of any respite in the near future.
Succinctly put.

The use of surveillance and combat drones in addition to the use of satellite tracking technologies close to the crime hotspots would minimize and/or eliminate these criminal incidents.
Travel › Re: Video Of The GUO Bus Attacked Along Lagos-Benin Road, All Passengers Kidnapped by Konquest: 7:08pm On Feb 10, 2024
Aicebaba:
From the comments, this accident likely happened on a GUO from Lagos to Abuja because a bus heading to east from Lagos wouldn't pass Akure. The road not been a dual carriage lane means the incident wasnt along lagos - benin - asaba road.

BAD JOURNALISM
You have a very valid point. I was wondering about the mention of Akure in that video. This cannot be Lagos-Benin Expressway.

Tbh, that's the problem with word-of-mouth rumors which lead to distortions in original reports. This crime report (from the other thread just directly below this thread on the frontpage) was reported by Sahara Reporters.
Travel › Re: Video Of The GUO Bus Attacked Along Lagos-Benin Road, All Passengers Kidnapped by Konquest:
MadeINchenzen2:

https://www.youtube.com/watch?v=PZpYDkunZak
The first thread post on this kidnapping incident on the NL frontpage was VERY contradictory. This newer thread from the NL frontpage on the incident is more BELIEVABLE.

The quoted thread post by that other OP on Page 1 of his disjointed thread says the incident happened between Ikare and Kabba... and that the bus was coming from Abuja!


Another quote on that same NL thread alleges that Ned Nwoko says the bus with passengers on board was going from Lagos State to the South East which would have entailed driving
along the entire stretch of Lagos-Benin Expressway via Ore. That thread post was quite annoying tbh!


All posts MUST be fact-checked before having them moved to the NL frontpage by the posters and the Mods to avoid misleading NL readers.
Travel › Re: GUO Motors Attacked, Passengers Kidnapped, Driver Shot Dead. Girl Abandoned by Konquest:
jmoore:
https://saharareporters.com/2024/02/10/gunmen-kill-bus-driver-kidnap-all-passengers-coming-south-east-lagos-abandon-little-girl
A GUO motor was attacked, driver shot dead, passengers kidnapped. The incident happened between Ikare in Ondo State and Kabba in Kogi State. The bus was coming from Abuja.

There are reports that a little girl was left by the kidnappers.
~~~~~~~
The OP's thread post is VERY contradictory.

The quoted post directly above from the OP on Page 1 says the incident happened between Ikare and Kabba... and that the bus was coming from Abuja!


Another quote on this same NL thread alleges that Ned Nwoko says the bus with passengers on board was going from Lagos State to the South East which would have entailed driving along the entire stretch of Lagos-Benin Expressway via Ore. Which source do we believe? This thread post is quite annoying!

Please fact-check your posts before having it moved to the NL frontpage to avoid misleading NL readers.


@Seun, Mynd44, Nlfpmod.
Agriculture › Re: Theft Of Farm Produce Spreads Across Nigeria by Konquest: 5:27pm On Feb 10, 2024
Islie:
• Available crops, foodstuff diverted to Niger Republic, others

• Sanctions, Naira value make export more profitable




https://leadership.ng/theft-of-farm-produce-spreads-across-nigeria/
Politics › Re: Budget, Agriculture Ministers Fault Subsidy Removal, Floating Of Naira by Konquest: 4:04pm On Feb 10, 2024
Politics › Re: Hunger Protests: Why Tinubu Can’t Govern Like Buhari By Farooq A. Kperogi by Konquest: 3:18pm On Feb 10, 2024
Racoon:
https://www.farooqkperogi.com/2024/02/hunger-protests-why-tinubu-cant-govern.html
Without first building an efficient, government-subsidized public transportation infrastructure within cities and towns and between cities, towns and states, removing petrol subsidies will always result in the kind of mass affliction that Nigerians are going through now.
~~~~~

CNG would lower the cost of haulage and public transportation to below the cost of transportation before the petroleum subsidy removal. CNG is way cheaper than diesel or petrol!

Therefore, fitting existing large buses and trucks with Compressed Natural Gas (CNG) kits within one month for instance would lower the cost of food, and food haulage from the North to the South and vice versa.

Second, price control measures have to be introduced immediately with special hotlines in each state of Nigeria to report anybody that tries to hoard food items in warehouses, and have them punished after trial in a court of law. This is not rocket science.

Third, illegal check points,used for extorting trailer and truck drivers must be removed from the roads immediately. Dedicated phone lines can be set up to report with iron-clad evidence the locations of all illegal checkpoints. These things should have been done by all the Federal and State governments in Nigeria across party lines.
Business › Re: Totalenergies To Exit Nigerian Onshore Oil Business by Konquest:
pocom16:
You are the highly ignorant one..

Go and check the profits declared by these companies and how their stock rises

The only time they had issues was in 2015/2016 where oil prices fell below the production cost..but that didn't last long and..
The years of profits were able to make up for the losses..


Do you think it has taken Exxon mobile and Aramco a century to reach the height they are in..

Even Folorunsho..a tailor.. immediately she was given an oil block in Agbami..became the richest woman in the Africa..
Someone that was just sowing clothes..

With her oil money she has built two towers in Lagos using Julius Berger..

Who was Arthur Eze before he got his block..

Dey whine yourself there
Let me step into your convo here.

Point of correction.

The Ikorodu, Lagos indigene, Mrs. Folorunso Alakija was NOT an "ordinary" tailor. She was a banker with IMB which was based on Victoria Island just near the Bar beach. I remember back in the 1980s when she left the banking sector to concentrate on raising her young children, she revolutionized the fashion industry by starting the fashion business outfit called "Supreme Stitches" which had high-end folks in the society as clients, including Maryam Babangida, General IBB's wife. Mrs. Alakija was a deeply connected woman being from a wealthy Ijebu-Yoruba family (the Ogbara family) from Ikorodu. I remember her Ikeja, Lagos-based company adverts were in magazines and newspapers and her brand was hugely popular alongside that of the iconic David Kolawole Vaughan (DAKOVA) back in the 1980s.


Second, in 1993 when she and some members of her family applied for the deep offshore licence, the savvy woman took a very big risk because NOT all oil wells produce oil and gas in commercial quantities. She was able to get foreign technical partners and that's how they struck oil at Agbami. I still have the 1993 Guardian newspaper articles and other documents listing the full names of all the Nigerians who bidded for oil blocks in the very risky deep offshore oil blocks in my archives.

Other guys who got oil prospecting licences did NOT even strike oil or they struck oil and gas that was NOT of commercial quantity. The Ibadan-born, Nigerian-American billionaire oil and gas mogul Kase Lawal and the M.K.O Abiola family through Summit Oil did not find significant oil and gas of commercial quantity while prospecting for oil. The Borno-born Alhaji Mohammed Indimi, Dr. Mike Adenuga, the late Ijaw High Chief Benson Lulu-Briggs who owned Moni Pulo Limited, Mrs. Folorunso Alakija, Arthur Eze, Chief Tunde J. Afolabi the Chairman/CEO of Amni International Petroleum Development Company Ltd, etc, were some of the fortunate people among the 1990 to 1993 set of deep offshore oil block owners who struck oil and gas in commercial quantities within 4 years of oil prospecting and oil mining. (Dr. Mike Adenuga was the first Nigerian whose indigenous oil firm CONOIL struck oil and gas after getting his oil block in 1990).

So, credit must be given to the business savvy Mrs. Folorunso Alakija, (the UK-trained secretary, banker, and super-fashion designer), for having the boldness to take the risk to get Famfa Oil among the indigenous deep offshore companies.

Last but not least, TotalEnergies are NOT leaving Nigeria, they have only divested their onshore assets to concentrate on the more LUCRATIVE deep offshore just like other oil majors such as Shell, Mobil, Agip, etc, are doing.

More that 90 percent of those responding to this topic are deeply and embarrassingly ignorant about the thrust of this article because as usual they don't read to understand, and stupidly started insulting the President of Nigeria thinking that TotalEnergies have left Nigeria finally. The OP himself did NOT help matters because he misled many posters and readers into thinking that TotalEnergies have left Nigeria. This is far from the truth! They are only concentrating on the risky but profitable offshore exploration and production for now. Period.
Business › Re: Totalenergies To Exit Nigerian Onshore Oil Business by Konquest: 12:44pm On Feb 10, 2024
Amotolongbo:
Everything just dey japa
TotalEnergies are exiting the onshore production to focus on the more PROFITABLE and productive deep offshore oil and gas exploration and production. They are NOT leaving Nigeria. It's all about global efficiency.


The onshore oil fields and other assets have been sold to indigenous oil firms.
Politics › Re: How Nigeria Manufactures Hunger ~ Tosin Adeoti by Konquest:
idtwo:
How Nigeria Manufactures Hunger
~ Tosin Adeoti


A few days back a Facebook friend shared an experience (1) whose variations I am hearing more and more these days: While in a local bukka, a young schoolboy of about 14 accosted him. It was in the evening and the boy pleaded with him to buy him food. The lad explained that he had not put anything in his mouth since the dawn of that day. Even though he is someone who pays no mind to random folks requesting for funds, it did jolt him that the boy wasn't asking for money but food. In fact, the boy wasn't asking him for a full meal, only that he gives him the leftover from what he was eating. Moved with compassion, he bought him a meal. As he looked at the boy lapping up his soup, he realized that sometimes the reward of the giver is in the joyful face of the receiver.

Things are hard in this country.

Another friend summed it up in the usual humorous way Nigerians couch their hardship (2),

"Earlier today, I saw my neighbor offloading more than 4 bunches of plantain from his truck. I mean, I won't be surprised if EFCC and DSS trailed him because where una dey see this money!!"

Things are hard in this country.

Many times I am tempted to ask low-level workers how they are surviving the hike in food prices. A few times I asked, I got an earful. Sometimes I part with a few coins but in my heart, I know what I have given can only buy so much in the market and that they will be back to square one in a few days. It is not sustainable.

THIS GALLOPING FOOD INFLATION
The Tribune newspaper ran a piece this month about the hyperinflation in the prices of food items and household products across the country (3). They reported that a measure of pepper that would sell for N1,000 about three weeks back, now sells for N3,000. A big tuber of yam which sold for N1,200 weeks back, now sells for N2,500. Personally, I was shocked that a crate of egg my family used to buy for N600 now sells for N1,600.

The food inflation is so dire that with a food inflation of 22.28% (4), Nigeria has the 11th highest food inflation rate among 169 counties in the world (5), and the 5th in Africa. An NBS survey conducted in 2020 showed that 58% of Nigerians reduced their food consumption between July and December 2020 (6). I imagine it's worse now.

I mentioned that I was shocked when I found out that my beloved egg has jumped 169% in 4 years. Perhaps I should not have been. Those who regularly follow my economic commentary online would be surprised to read that I was shocked. This I had predicted a while back.

HOW DID WE GET HERE?
To get at the heart of a problem it is important for the right questions to be asked. According to the World Bank (2019), the GDP per capita of Nigeria is $2,230 while that of Pakistan is $1,284 (8 ). Going by these figures, an average Nigerian is 70% richer than a Pakistani.

Don't switch off yet. Stay with me a while, please.

I could have chosen any country but I chose Pakistan because of the similarity in population. Depending on where you look and how believable you find the figures (9), Nigeria's population is estimated at 210 million while Pakistan's is estimated at 212 million; 2 million people more populated than Nigeria. So compared to other countries, it's about the closest.

Now, if you go to the World Poverty Clock (10) and check out the number of people in poverty in both countries you will be in for some surprises. Nigeria has 86 million people in extreme poverty but Pakistan has 10 million people. Pakistan has 5% of its people living below $1.9 per day while Nigeria has 41%.

Look at the two data points - GDP per capital snd extreme poverty population - and what do you come up with? One talks about income - Nigerians earn more than Pakistanis - the other talks about cost - Pakistanis have a much better purchasing power. It simply means that $1.9 will buy more things in Pakistan than in Nigeria.


Nigerians are poor not primarily because they are not earning enough but because what they earn is buying less and less compared to people in other countries. When you hear that Nigeria has the most people in extreme poverty in the world (11), it's because their earning power is reduced. If in 2015 you were earning N100k and you were in the habit of buying a big tuber of yam at N500, that's 0.5% of your salary. Now that it's N2500, if your salary stayed the same, you would need to spend 2.5% of your income to buy the same yam. Remembering that unemployment rate has jumped from 10% in 2015 to 33% in 2021 brings it further home, meaning that some who were earning 100k actually have no income right now. Looking at the former scenario, it's either you part with more of your salary for less of yam, buy less yam with the same money, or look for an alternative.

A 2016 World Economic Forum article quoted a USDA survey saying that Nigerians spend the most on food (12). While the percentage of household income spent on food in Singapore is 6.7%, 9.6% in Ireland, 9.9% in Austria, 19% in South Africa, as at 2016 Nigerians spent 56% of their income on food - again, the highest in the world. On the other end, Pakistan has its people spending 41% of their income on food (13).

Is it becoming clearer where our demons are coming from? Food prices is one of the major reasons why Nigeria with a higher GDP per capita than Pakistan has more than 8 times the number of people in poverty.


Now, put on your thinking cap: Faced with this data, as a policy maker in Nigeria, if asked what to do to lift Nigerians out of poverty, what would be one of the first things on your mind? Good! Reducing the percentage of household income Nigerians spend on food. Creating jobs for Nigerians is praiseworthy. Increasing the income of Nigerians is good. However, if the price of food items keeps increasing then their income will be worth less and less. To buy a tuber of yam with the same 0.5% of his salary, the person earning 100k in 2015 would need to be earning 250k today. This is a core issue that should keep government officials awake at night.

No matter what you do, you must never do things that will increase the already high food prices because it means that more and more people will be thrown into the poverty bracket.


WHAT ARE THE PRACTICAL SOLUTIONS?
Once you start from this point that food is absolutely essential to curing hunger and reducing poverty in the country, you will realize the folly of the many policies that has become a given in our country. I will list out a few:

• Banning food items
No month passes by without Nigeria banning or threatening to ban the importation of certain food items. In a piece I wrote a while back titled We Don't Have a Rice Problem (14), I laid out my argument regarding why the government's obsession with rice is misguided. Banning of food items may well be a good policy in certain circumstances but even for those situations a country has to ensure that it has put in place adequate measures to prevent the suffering of its people. If Nigeria consumes, according to PwC (15), 6.9 million tons of rice, you cannot blanket ban importation when production capacity is only 3.7 million tons. If we will ban, the right environment to close the supply gap has to be put in place. Thrive Agric (16) reports that rice production is hampered by both production (low mechanization) and socioeconomic (lack of access to inputs) constraints making it difficult for the gap to be bridged.

This is evidenced by the price of the commodity. A 50kg bag of milled rice which sold around N10,000 in 2015 now sells for N23,000 on the average, according to a BusinessDay report (17). In fact, there are reports that foreign rice is being bagged as local brands (18). It's deception galore.

• Full Border reopening
In a November 2019 piece (19), I argued vehemently against the border closure. In it, I predicted that as long as the border remains shut, whether fully or partially, food inflation will continue to increase. Someone contacted me after he read the article and asked for advice on what he should do for his personal economy, I asked him to stockpile food items. I am not a soothsayer. I have only through reading realized the implications of certain actions and policies. And I am saying now that unless we revisit these policies the prices of food items will continue to increase. In fact, I na few months time people would wish they bought more at present prices. It’s a simple case of ‘those who fail to learn from history are doomed to repeat them”.

Strangely, despite the evidence of poverty around us, the government is yet to fully open the borders. It's gotten to such a head that only five days ago, the World Bank again advocated (20) that Nigeria fully reopen its land borders to trade so as to help slow Nigeria’s accelerating inflation rate.

In Closing...
There are other solutions to the problem of food hunger including resolving the grave insecurity in the land and good management of the exchange rate, and this has to be done alongside things like facilitating imports of staple foods and medicine by removing them from the list of FX restrictions.

On June 12, when President Buhari announced that his government has lifted 10.5 million people out of poverty (21), many of us know it could not be true based on the realities on ground. Again, referencing the World Poverty Clock, the number of people living in extreme poverty in Nigeria in 2019 was 77.9 million or 39 per cent of the population. By 2020, the number of people living in extreme poverty had jumped to 84.8 million, representing 41% of the population. In other words, at least 7 million Nigerians have been thrown into poverty in the last 12 months alone. And the World Bank confirmed it last Tuesday when it said that the high inflation rate caused by rise in prices of goods and services pushed seven million Nigerians below the poverty line in 2020 (22). Data based on World Data Lab's global poverty model indicates that 4.2 people are currently slipping into poverty every minute in Nigeria.

When one consider that Nigeria has the second highest burden of stunted children in the world, with a national prevalence rate of 32 percent of children under five and that an estimated 2 million children in Nigeria suffer from severe acute malnutrition (SAM) (23), then one wonders why a national emergency has not been called on the food inflation in Nigeria.

For all it's worth, we need to start now. This is not a political issue, food availability is a survival issue.
Bump... Deep insights.

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"A 2016 World Economic Forum article quoted a USDA survey saying that Nigerians spend the most on food (12). While the percentage of household income spent on food in Singapore is 6.7%, 9.6% in Ireland, 9.9% in Austria, 19% in South Africa, as at 2016 Nigerians spent 56% of their income on food - again, the highest in the world. On the other end, Pakistan has its people spending 41% of their income on food (13).

Is it becoming clearer where our demons are coming from? Food prices is one of the major reasons why Nigeria with a higher GDP per capita than Pakistan has more than 8 times the number of people in poverty.


Now, put on your thinking cap: Faced with this data, as a policy maker in Nigeria, if asked what to do to lift Nigerians out of poverty, what would be one of the first things on your mind? Good! Reducing the percentage of household income Nigerians spend on food. Creating jobs for Nigerians is praiseworthy. Increasing the income of Nigerians is good. However, if the price of food items keeps increasing then their income will be worth less and less. To buy a tuber of yam with the same 0.5% of his salary, the person earning 100k in 2015 would need to be earning 250k today. This is a core issue that should keep government officials awake at night."
Agriculture › Re: Man Shows Bountiful Harvest Of The Yam He Planted During Lockdown by Konquest: 8:50am On Feb 10, 2024
TMSMedia:
"No fertilizer, no additives" - Nigerian man shows off his bountiful yam harvest, says he planted the seed at his backyard due to boredom during lockdown

A man identified as Osasere Erhahon from Edo State took to Facebook to share his bountiful yam harvest, IgbereTV reports.

According to Osarere, he planted the seed yam or cut setts at his backyard due to boredom during the COVID-19 lockdown.

He wrote:


https://www./510341062317711/permalink/3841192572565860/?app=fbl
Bump.
Agriculture › Re: Bumper Harvest Of Yams At Yam Market In Ikole Ekiti by Konquest: 8:47am On Feb 10, 2024
Melezenawii:
Odo-Oro Yam market in Ikole Local Government Area of Ekiti State.

We are coming with "shared prosperity."
Travel › Re: Lagos Beats Dubai, Miami, Ranked 19th Out Of 50 Best Cities In 2024 (list) by Konquest: 8:36am On Feb 10, 2024
Islie:
https://www.thecable.ng/full-list-lagos-beats-dubai-miami-ranked-19th-out-of-50-best-cities-in-2024/amp
The article is NOT rating Lagos in Nigeria as the best city to live above those cities mentioned.
Rather, it says Lagos is one of the places to visit in terms of CULTURE, SOCIAL LIFE and HAPPENINGS worldwide. Period.
Business › Re: Tesla Shares Plunge To Wipe Out $73 Billion In Market Value, After Dour Earnings by Konquest: 8:31am On Feb 10, 2024
Melezenawii:
Tesla shares plunge to wipe out $73 billion in market value, after dour earnings call


https://www.cnn.com/2024/01/25/investing/tesla-stock-drop-china-sales/index.html
Business › Re: Dangote Gained $5 Billion In 22 Days As Net Worth Hits $20 Billion by Konquest: 8:29am On Feb 10, 2024
Melezenawii:
Dangote Gained $5 billion in 22 Days as Net worth hits $20 billion . This does not include his investment in Dangote Petroleum Refinery


https://www.bloomberg.com/billionaires/profiles/aliko-dangote/

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