₦airaland Forum

grandstar:
This is the standard practice globally. Interest rates until it kills inflation.

It will lead to all the adverse conditions you mentioned but it will be implemented nevertheless.

That is why central banks are independent and government nor businessman can't dictate to them. The central bank will continue to raise interest rates until inflation is slain. Many times it leads to a recession but the central bank won't back down.

Its when the central believes it has contained inflation before it begins to reduce interest rates.

Seun:
High interest rates are the correct policy. Leave CBN alone.

RodgersAkpafu:
This is a very interesting read...
Seems like we have had one or two engagements on twitter before
anyways that aside, this is my perspective sha

Just like you, I'll say that the biggest pro, despite the many ugly sides to spending your formative years in Nigeria is that you learn GRATITUDE and appreciate more, what the west has to offer.

A second generation American or Brit will see the country as his country (which is the norm and expected) and only see the issues and conplain a lot, entitlement may even creep in
but for us that came from literal "hell fire" , we appreciate more what is available in the west and work with it.

You made a reference about the rich in Nigeria and how people think they are criminals.
My fellow Nigerian, take it from me, most "rich" fellows in Nigeria are "criminals" or lemme use a more polite word, rent seekers.

The Nigerian economy is what you call a near imperfect economy, in an economic sense, that means that outlandish economic returns are very much possible, especially when you throw in cronyism and weak institutions in the mix.....
That explains how soneone can out of the blues blow, in Nigeria and say China, than in the west, because as an economy nears perfection, the returns normalise, and the returns tend closer to zero as the economy nears perfection (there is no 100% perfect economy sha, because that will mean zero returns)
My point is the supposed elite class claiming big boys in Nigeria, operating in a space where the economy nears the perfection line exposes their underbelly, so I understand WHY they will think that rich Nigerians are crooks (not all but most) and I side them on that one.

The undertone as to why I say that my descendants have minimum interaction with Nigeria is because the dominant cultural mentality in that space is antithetical to common sense and proper development...
to put it more mildly, I don't agree with it and to be frank that is the major motivation for escaping the country

I strongly believe that burning myself out and sending them to the best schools here like Winchester Eton or one fancy school in Switzerland that i used to admire will be better for them in the long run, as they will make global connections which will better position them for great things in the west , which Nigeria cannot offer let's be frank.

I see my sons as a Kwasi Kwarteng, Sajid Javid, Sunak or Chan...... or even Tidjane Thiam
that's the vision for them....
but for now they are all dreams and that's what I work towards day and night everyday.

the above answers your question about social capital. Going to Eton or Winchester gives you social capital that BIS or Turkish international cannot give.

on a final note, you made mention of the rat race and the debt accumulation that they have.
I wonder why a typical Nigerian who grew up in Nigeria have this kind of antagonist mentality towards debt.
Debt is the number one wealth building tool and has been what have pulled hundreds of millions of folks across the western world and even China out of poverty.
Our aversion to debt is the reason why Africa will remain poor and wretched, because just like a knife that is a good tool, but could kill as well, debt is the same
will you say cos knife can kill, I won't use it ?

On a final note, I can tell that you are a very intelligent person who has some balance.
I wish you the very best out there mehn.

Sheistoopretty:
How many times do you see me creating threads? I created this one coz I'm LESS BUSY today

Why do poor people hate the truth? because I told you the truth you are now angry i pity any of my gender that will open leg for you tho

LocalStandard1:
I will be brief.

One of the reasons for the very high underdevelopment in Nigeria and Africa at large is because of this factor...

When you look at Asia, when you look at Europe, even the middle East. Take a look at every continent and region in the world and you would notice Africa is the only place where the vast majority speak the language of their colonizers.

Frence, English, Arabic, Portuguese, Spanish, you name it! Africa is the only continent and Black people are the last race still favently, diligently and fanatically holding on to the language of their supremacist, imperialist, racist colonizers and enslavers, from the Westerners to the Arabs.

Africa has been under siege, Africa has been at war for millenniums and centuries, from the Arabs, the Europeans, Westerners. Africans and Black people are the only group and race of people actively fighting for supremacy and domination of every other races and cultures, even against themselves, for the control and benefit of all the others. The Europeans/Westerners, the Jewish, the Arabs, even as we are beginning to see now for the Asians.

If Nigeria, and by extension, the entirety of Africa and much of the African dominated Caribbean, will start by reverting to our own local languages, first changing what language we think in our minds with, what language we officiate with, what language we plan, scheme and gossip with, we will begin to effect changes to our minds and national planning as it becomes difficult for everyone else outside our own group to decipher and understand what we're doing and by extension sow seeds of discord and confusion. It will give us a sence of self preservation and self interest.

Already every African is largely and generally multilingual, a polyglot, so these changes is already very easy.

Nigeria should completely remove so-called "english" language as our main and official language, Nigeria most make official the three main Languages in Nigeria, Hausa, Igbo, Yoruba, with pidgin and Swahili as secondary languages.

English, French, Arabic, Spanish, Portuguese and all these Western, Arab and non African languages MOST GO. Africa today is the second largest and biggest continent in the world. There are more English speakers today in a single African country than their are all of the British people, there are more French speakers today in a single African country than all the French in France and likewise Portuguese. A Northerner and African Muslim is more loyal to the Middle East and the Arabs than his own country and African people.

Africa and Africans have no self interests as our loyalties, interests and views and self pride and dignity has all been shared up by everyone that has enslaved and colonised us. That is why you're so interested in Palestine, Israel and Western well being, interests, ideology, survival, affairs than your own.

You lack any self preservation and self interest because you do not listen to your indegenous self speak.

TimeManager:
You don't expect a first class treatment in a situation of terror attacks, not even in Okuama was anyone given a special treat.

-Kiss the truth!

onuman:
Judge hiding under freedom of association to deliver a stupeeed judgment.
In other words, any Dick can now practice medicine in Nigeria; no supervision from the regulatory body - the Medical and Dental Association of Nigeria. The association needs to appeal against the judgment.

MomohMrMoore:
Lol.. this is a useless graduate. A law graduate thats says she has a Bsc in Law! Imagine. Is Law a SCIENCE course?

Flows001:
Recently, people have accused the church of staging miracles and engaging in diverse fake miracles.
So he was upset that if he allowed her, social media would definitely take it up and conclude that she was probably bribed to come share such testimony, because the least a Law graduate should know is the name of the Law degree he/ahead graduated with.

The Pastor was wrong in his approach for real, he should publicly apologise to her the same way he publicly rebuked her

Acidosis:
Like it or not, if the MOG had let that woman go with her BSc in law talk, Paul Eneche would have been accused of planting a fake testifier and probably trending on TikTok. Nobody would have believed he had no hand in the B.Sc. in law talk.

Something close to this nearly ruined a somewhat popular/big church somewhere around Ojodu. I don't know whether it's madness or not, but some will purposely come out to say what God did not do, or blatantly make crazy exaggerations, all to what end?? I have seen someone come out to testify about being cured of HIV/AIDS (nobody cured, paid, or sent this woman), only for her to die a few months after.

Like it or not, if you come to ruin the credibility of my institution or God's name, walai talai, I will do something worse than this without apology to anyone, especially Nigerians!

By the way, this is an opportunity for NOUN as an institution to sit up and make amends. Most of the NOUN handouts and books I have come across online are purely world-class standards! However, the recruitment process is poor. There is no gain in awarding a Law degree to someone who may never be able to defend a client before a judge. What's the point, really?

Too many unworthy degree holders today have watered down the credibility and potential of many NOUN graduates.

OkayDaddy:
Are you aware that is exactly how Gregory Obwubuasi Obi's father died like a dog?

His father's name was Josephat Obi. Peter Obi's Drug syndicate killed him. Tied a stone round his neck and threw him into the river where he drowned.

LordAdam16:
You make valid points.
But there are reasons to treat this differently.

First off, Germany's reputation in the sector is unmatched.
We've not revamped our transmission infrastructure since they were installed in the nation's infancy.
This is not a project where you'll generally want to go cheap.
You want the most efficient player to come in and deliver a quality job that'd last the next 30, 50 years with firm guarantees.
The Germans check that box. The only other folks I'll call for this are the Americans, Japanese, or South Koreans.

We actually approached the Germans because Siemens did a remarkable job in Egypt.
https://www.siemens.com/eg/en/company/topic-areas/egypt-megaproject.html
Yes, that same Egypt that has the same running concerns from corruption to debt burden.

As to the details of the loan.
The loan is provided by the world's largest national developmental bank.
Rates are typically single-digit. The EU has some of the lowest rates on the planet.
As regards a default, the Europeans have a long history of being open to debt reconstruction and relief.

Will we have gotten a better deal from China. Absolutely.
That does not make this a bad deal.
Some could argue diversifying our loan base is the smart thing to do.
Plus, we're using it for viable infrastructure instead of pointless intra-city monorails.

Many watchers have correctly lampooned the West for not doing enough to match China's infrastructure drive in Africa.
This is a welcome attempt to fix that and should be encouraged.
In 2022, Siemens signed a new deal worth $8.7B in Egypt, which I expect to be north of $10B due to predictable cost overruns, for a nationwide high speed rail system.

If we were a serious country, the EU, Japan, South Korea, and China would industrialize this country many times over and we would barely have to lift a finger. Norway, Qatar, UAE, and the multinational developmental funds will serve as cosigners.
There are trillions in funds looking for a home.

-Lord

tolumizzy:
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tolumizzy:
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......weldone

Gerrard59:
I will go first;

Cococandy: I have been following her posts for more than ten years now. While I don't agree with all, I respect her views and applaud her consistency.

CaveAdullam: Pretty detailed posts.

Acidosis: He comes across as a mature man. Those days, I wondered if he was the same person as Acidtalk as both have or had (I no too sabi) conservative views. But Acidtalk was more raw. Nevertheless, 'Dosis' posts have been consistent and well-mannered. I do admire them.

Pocohantas: Obviously popular to most Nlders, I find most of her posts to be hilarious, yet honest. She is raw and doesn't care what people say about her. Overall, she is consistent, and most importantly, she is a one-woman-army. At a point, I used to imagine her punching into the air when replying to certain posts and Nlders.

LordAdam1: He comes across as a big man who has seen everything. There was a reply he gave me that changed my perspective towards entrepreneurship, which I hold till date. Na him favourite way to ending each post with "Lord" wey dey burst my head.

zinaunreal:
Talking crap. Educated mumu

zinaunreal:
See who's saying I have inferiority complex yet depends on likes of people you've never met to boost your ego. You're just an educated left over who has the ability to learn but will never grasp wisdom and understanding. Broke asss niggah who can't decipher figure of speech.

zinaunreal:
Caman! Shift... I have nothing to prove to your educated hungry duckling bank account. 😆

zinaunreal:
Mental cretinous 😆😆😆😆
Use am go buy food na..
Broke literate 😆

Laird:
Don't be deceived. There are many unemployed Doctor s...Even to get an internship/ house man ship space to work for free is very challenging

To get government job is like a needle in a haystack...

Private pay from 6Oooo-150000 for 0-5 years experience and jobs are not easily available...

Update 0f 2024

The medical Job market in Nigeria has changed in Nigeria
Doctors and Radiographers have been in serious demand since 2021

New graduates are getting offers not available before. Nigerian Universities and teaching hospitals are looking for doctors to do residency be authorised many doctors and Radiographers are leaving the country

As at now, basic pay for Doctors thats are medical officers in most private hospitals is 250-300+ thousand per month take-home depending on the area and workload and budget if the facility and demand


This is the situation at 2024.

I had to update because someone shared my initial post of which the market has changed it

zinaunreal:
Get lost. Pure olodo from Tinubu lame asss