₦airaland Forum

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20-30 years from mow, USA will start releasing Nigerian drug lords from their prisons to come and start contesting elections in Nigeria instead of killing them like Singapore and saving Africa a whole lot of headache

Tinubu is a prime example

Rrchrd:
Please what N5,000 something can i buy for my Landlord today 25 Xmas?

But him one bottle of a drink.... Spirit drink

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madridguy:
There is nothing like Shariah law in the Northern Nigeria but Wahabism ideology.

Original Islamic law " Shariah law " is not practised anywhere in Nigeria, some useless, selfish people are just hiding behind it to colonize, enslave and manipulate the ignorance ones.

You're contradicting yourself. Wahhabism is the purest form of Islam. It rejects every other Islamic view developed after Muhammad and pushes for literal interpretation and strict implementation of teachings of the Koran. Wahhabism is what is practiced in Saudi Arabia.

And no, I'm not Muslim and I'm not holding brief for those who kill on behalf of a god that is almighty and powerful and merciful

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Curtis03360:
Our father took care of us all equally and made sure everyone has a fair share of education and we never lack for food nor clothes while growing up……we eat together as a family, no mother cooks separately and my father tries his best to be fair in whatever he does both in meting out punishments or in sharing gifts. I dunno why the innate hatred, the first wife never show hatred even though it’s in her heart and her children always act like we all cool at family social gatherings and functions but deep down they don’t like those who are not their mother’s children and would gladly render assistance to outsiders than help give their father’s children a push in their endeavors

Na entitlement mentality dey worry you.

You need to use bleach to wash entitlement off your brain and mindset in this life else you'll never make it.

Once you realise nobody owes you anything, you will double your efforts and look for every possible means to make it on your own.

I don't know how old you are but I pray you're still below 25 and you have acquired tertiary education. Otherwise you setting yourself up for major failure in life by constantly thinking your older step siblings ought to help you in one way or another to succeed.

Why don't you be the successful one who others look onto for help? Are you disabled?

Go and hustle bro... acquire better skills and make your own money... Put in the hardwork and build your wealth gradually.

There's no shortcut to success... Putting your eyes in your step siblings wealth is greediness and wanting to take shortcut to success. The end result is never good.

Again, get rid of the entitlement mentality that is beclouding your judgement

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In China the public officials involved in this would all be killed.

In Nigeria, the public officials involved in this would pay some other public officials bribes to sweep the case under the carpet.

They'll then use part of the money to contest an election into bigger position from where they can steal bigger amounts.

Tinubu will never pass a law to make death sentence the penalty for corruption in public office, yet he and his propaganda agents wants you to believe that Tinubu can fix Nigeria.

Believe them at your own peril

In

I wish to see Nigeria and Nigerians prosper and rise above its corrupt leaders and politicians. Only a true patriot can do anything and everything to achieve that irrespective of tribe and religion. Hence, my username.

I have been labelled yoruba, Igbo and Hausa on Nairaland cos of my views. I call out evil politicians and leaders, irrespective of tribe and religion. Religious and ethnic bigots don't see this so they quickly label me what I'm not. I take this as conviction that what I'm doing is right.

I'm not on Nairaland to please anyone except Nigeria.

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[quote author=Buccalcavity2 post=133360266][/quote]I'm sure you know that reading is essential for those who seek to rise above the ordinary. Again, from passions grow opinions; intellectual laziness lets these harden into convictions.

It's not my calling calling to encourage intellectual laziness, so my posts and comments may not suit you.

Cheers.

9jatriot:
Using my voodoo accountant calculation.

Scenario 1
Exchange Rate == N500 = 1$

Imported Chemical: $100 (100 * 500 = 50000)
Other materials (Assumption): N50,000 (50000/500 = $100)

Total cost of production = $200

Scenario 2
Exchange Rate 1500 = $1

Imported Chemical: $100 (100 * 150 = 150000)
Derate for other materials based on 35% inflation: 1.35 * 50000 = 67500 (67500/1500 = $45)

Total cost of production = $145

Do not get me wrong, I am not insensitive to know that the cost of production in naira would increase, but the dollar cost actually reduces which is why your cost reduces if you decide to export.

The initial post was praising China for devaluing Yen and still could not see the export opportunity in the devaluation of the Naira.

So if the Izal company decides to go into export, they would make more money they would have made than before. The present high exchange rate is also aimed at discouraging importation so that where possible, companies can increase their local capaacity and source alternative productsfor their raw materials.

So the question is, why do you not think we should improve our export capacity since the other numbered part of your post acknowledges that a devalued currency is export friendly?

Secondly, why do you think an accountant would not know that constant increasing borrowing to pretend to have a low exchange rate is bad for the economy?

I don't know why you did the calculation halfway. I don't want to assume you saw the ridiculousness in your initial postulation, that is why you are now backpedaling.

Using your own calculation;

the first cost of production is $200 and at the exchange rate of N500 your total cost of production is N100,000 ($200 x N500).

The second cost of production makes a false assumption. That is part I put in bold. This is you turning maths, common sense and economics upside down to paint a false narrative.

If the domestic input cost was valued at $100 (50,000) and a devaluation occurs that shoots naira to N1500 per $1, who told you the domestic input cost will rise by only 35% (which is the inflation rate your propaganda government deceives everybody with)?

Lets assume for simplicity that water is the only domestic input you use.

Water is the most available product in Nigeria... At least we don't import water, though we import the water pumping machine and water purification system. Yet, as available as water is everywhere in Nigeria, what has been the percentage price increase of price of ordinary water in Nigeria since Tinubu's infamous subsidy is gone and naira devalued speech?

Sachet water that uses to sell for N5-N10 is now N20-N30 everywhere in Nigeria. Is this percentage increase not over 100%? Pick any commodity in Nigeria today and tell me the percentage increase in price since Tinubu was sworn in as president. If there's anyone that has not increased by at least 100% I will send you N50,000 in USDT within one hour of your doing so.

My point is, input cost for domestically available items itself has increased by over 100% yet government propaganda agency NBS tells you inflation is 35% and you swallow it hook line and sinker even when reality is telling you otherwise.

Well, let's assume your assumption is correct (it isn't, don't deceive yourself), and production cost is now $145 after devaluation... At the current exchange rate of N1500 per $1, your total cost of production will be N217,500 ($145 x N1500).

Your production cost moved from N100,000 to N217,500 using your false inflation rate of 35%. Even at that, a production cost increase from N100,000 to N217,500 is a 117.5% increase.

If your production cost increase by 117.5%, what will be the percentage increase in the selling price of your IZAL product? At least 117.5%, lower or higher?

Now in all of these, we're assuming that you have savings stashed somewhere that you can use to fund the increased cost of production.

What if you don't have? You want to go take a loan at the bank with 35% interest rate? Yes? No?

If you take the loan, who will pay the interest? You or the consumer? So your cost of production is now 152.5% higher - 117.5% + 35% (bank interest).

So, price of your product will be at least 152.5% higher, yes or no?

1. Now, your argument in support of Tinubu is that the producers should export the product because it's now cheaper to the foreigner buyers... If a product is now at least 152.5% more expensive, how is it cheaper for foreigners to buy?

2. Now, which foreigners are you going to sell your product to? The same foreigners that are able to manufacture the raw chemical and sell to you? If they can manufacture the raw chemical, who says they can't manufacture the IZAL themselves? Why should they go through the headache of importing from you and having high BP in fears that their container of shipment from you has been seized by pirates or the Houthis when they can simply produce the product in their own country?

3. You also assume that you have the facilities, equipment and capital to immediately produce enough for export after your currency is devalued. Is this true and even possible?

3a. You also expect companies to immediately start sourcing for local alternatives and increasing local capacity. Indirectly you're expecting many of your manufacturing companies to bring in more hard currency to your country to increase local capacity when you have not created the enabling environment like good judiciary, good roads, stable electricity, and good security. Meanwhile, most of the good brains in your country that will provide manpower in the increased capacity have fled abroad because of the extremely poor wages paid here and the poor economy where price of everything is expensive compared to how much people can legitimately earn. Which foolish existing company will increase their investment in such an environment or take the risk of borrowing to invest in such an environment? Most of them will fold up or sell their investment to any willing buyer and flee. This is exactly what you are seeing in Nigeria. How many foreign companies have packed up, sold their shares and left Nigeria? What we are seeing is replacement of existing companies but how many new companies has Tinubu's policies introduced into Nigeria since he started his ill advised first class accountant voodoo generated policies or hardship and suffering?

4. The aforementioned is to tell you that devaluing exchange rate doesn't necessarily mean your exports of manufactured goods will increase. Instead it is your agricultural produce and raw materials that serves as input to them and that they can't easily produce themselves that will be bought by them, and that is exactly what is happening in Nigeria. This is the concept of absolute/comparative advantage in economics.


I'll use a rhetorical question to respond to your last question as thus;

If Tinubu, a so-called first class accountant knows that his constant borrowing is harmful, why is he doing it?

Bede2u:
My last engagement to you as you do not understand the dynamics of civil discuss or actually know anything about what you are talking about.

1. U.S unemployment rate in 2nd quarter of 2024 was 4.1% while UK was 4.3% and Europe was 5.9%
U.S inflation is 2.6% while UK was 2.6% and europ is 2.0%
U.S GDP Growth Rate 2023 was 2.5% while UK was 0.1% in Europe = 0.8%
UK public debt was 98.5% of GDP at the end of September 2024 while U.S was 123% in Europe it was 88%

From the above can you tell me how uk is particularly doing better than Europe or U.S?


2. Your second point about UK companies working abroad can be calculated with a metric called Gross National Income. (Please google it). The GNI of the U.S is 26 trillion dollars while the U.K is 3.9 trillion dollars. The UK companies working abroad are very little compared to European and American companies. Think about Facebook and other tech companies alone.

3. Kuwait is among the worst performing economies within the GCC. It is expected to grow in 2025 by the second least amount ( the least growth is Qatar) Its GDP per capita is low compared to Saudi, UAE and Qatar. It doesn't have any recognisable brands like its neighbours and its also one of the most unstable politically because of its proximity to Iraq.

You obviously do not understand the topic being discussed as well as you think and I'd rather not engage with you anymore. Unless you say something really intelligent next

Besides, I don't like Tinubu either so I'm not sure what the rest of your post is about

1. Are you aware that UK or Great Britain was already established before USA?

2. How many countries did Britain colonise? How many did USA colonise?

3. You think GDP or GNI is the complete picture of a nations wealth? Well, if all the UK companies in Nigeria and all other former colonies of Britain and elsewhere tabulate their asset value together, do you think UK will look so small compared to the US?

4. Kuwait is among the top three least indebted countries in the world. If Kuwait is not borrowing like your Nigeria, if Kuwait is one of the largest exporter of crude oil and earns a lot from it, why do you think that it's currency should be lower in value compared to countries like USA and UK that are heavily indebted and UK that is highly dependent on its neocolonial economic dominance policy which is not discussed in public?

5. Like I clearly stated earlier, factors determining exchange rate are multivariate. You need to be a strong productive and economically independent country before you can use political policy to fix your exchange rate. Otherwise it's other countries or organisations that will be doing it for you indirectly, and they'll do it to put you at a disadvantage.

Comparing countries that are in same class will not help you understand, especially if you don't know history as well... Nigeria cannot wake up tomorrow and declare that $1 is equal to N1. If Nigeria does this, it will be very beneficial to Nigeria.

But Nigeria cannot. Do you know why?

I doubt if you would like to know.

If economics is written anywhere on the certificate you were given please return it and ask them to write only accounting. You don't know anything about economics. You bring nothing but shame to Economics when you argue illogically and blindly.

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Infotubia9ja:
Like I said, I can only do this when every Nigerian decide to agree to my simple ideology to implement my type of rulership.

You see your points are 100% valid and you are very correct about each actions you just explain can occur easy. But have you every consider a third option or multiple options where no single blood shed will spill.

It's just for every single suffering Nigerian to agree with my idea and play along, and we will all walk straight to the seat of power and take it easy no sweat.
That's the option I am planing for.

Also just fyi, you are a very informative and intelligent person and as such, your opinions will always be a listening idea should one day I take over as president of Nigeria.

Every single suffering Nigerian will not just agree to your ideology and elect you or follow you.

How do you convince them in their local dialect?

They already have their local leaders they trust, why should they follow you?

Power doesn't just fall on anyone's lap in the 21st century... And it will be so till the foreseeable future. You have to take power either by force or through very strong influence and connection. Which of these do you have?

By the time you possess enough power, wealth or influence to challenge the existing establishment, you may be too old to have the strength to follow through on your plans... What do you do?

Prepare your children and prepare every child in your environment today... Sell your ideology to them and teach them what they need to do to be able to reach that seat of power and effect your ideology.

Your dream will be more achievable if you can get at least 10,000 kids to have the same dreams and start preparing for it now.

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Infotubia9ja:
FREE WILL..
Everybody was born free so why die a slave...

I agree with some of your points and many wish to take over as president of Nigeria now to implement their plans but do they have the most important quality an ideal Nigerian president should have which is to be able to speak the three major languages in Nigeria fluently?

As per your own plans, from my understanding of world politics today, you'll need to overthrow the current government to do all what you listed...and you can only overthrow the government if you are already serving within the Nigerian armed forces; army, navy or airforce.

If you manage to overthrow the government, USA, UK, and their western allies will immediately hit you with sanctions to cripple your government and your economy... The massive suffering will cause your own people to rise up against you.

If you go through democratic route, you must contest election and win the presidential election and Nigerians must vote senators and house of representatives members of your party very well so that you have full control of the government... From there you can start passing laws to address these problems and using your power as president to enforce the law.

Can you win election in Nigeria with a very illiterate and hungry population who are deeply religious and loyal to their tribe instead of to the country? Do you have the money to mobilize voters, to contest and win and tackle Nigeria's problem systematically without backlash from the west while receiving support from China and Russia if the west tries to frustrate you?

Another option is to join or form your own militant group and take up arms against the state...if you join anyone, you'll have to rise up through the ranks to become leader so you can be president when you finally defeat the government...if you form your own, you'll need massive financial support to acquire arms and manpower... In all these you must pray you survive and nobody betrays you and kills you before you become president... even if you succeed, the west is waiting to unleash sanctions on your country to force suffering in your country so the people can hate you, unless they're the ones sponsoring you.

So, bro, no option is easy.

Your dream may be noble but it is just a dream. Nothing more.

PHIPEX:
Data overrides sentiment anytime any day.

Same area with lowest crime rate is projected as being unsafe by propagandists

Data can be misleading and mischievous if you lack broad understanding.

Divide the crime incidence of over 6 million in south east by population of people living there vs crime incidence of over 14 million in north west vs population of people living there.

You'll find that south east has higher number of people committing crime per population compared to north west.

So, the statistics is nothing to chest beat and celebrate about

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