₦airaland Forum

Realtruth2023:
I think it is high time you BAT supporters face the true reality, Nigeria's market is no longer attractive as it used to be. Our purchasing power or the purchasing power of the average Nigerian has been badly eroded. We have 200m population approx, but what is the effective population that can consistently buy your goods to ensure profit? If truly our market is attractive how come shop rite is closing shop, Ebe ano has halted expansion and other companies too are affected? See face reality right now our population is our biggest problem at the moment because the unemployment rate is high and the businesses are shrinking or closing down.

I have no reason to respond to you and owe you no explanation, but for clarity and reference I will enlighten you a bit.

Firstly, I am apolitical and I will remain as such for a while.

In Business there are opportunities and threats to Businesses everywhere in the world and not only Nigeria.

The same reason Multinationals are exiting Nigeria, enabled Deposit Money Banks (DMBs) declare humongous profits in FY 2023 which is the FX harmonisation policy.

All Tier (1) one Banks in the FUGAZ category declared mind-boggling and humongous profits based on the official Foreign Exchange earnings in their balance sheets (i.e the FX rates movement from N700-$1 to N1,500-$1).

The above states that threats in one sector with multinationals exiting based on FX scarcity scaled Tier 1 Banking to be profitable for a financial year.

There are opportunities in chaos when you take an objective and unbiased view of the outcomes.

Irrespective of the rate of strife in the Nigeria, A large and active youthful population is an asset to any country.

Even with the obvious inequality in Nigeria, people still eat, clothe, read, socialize, have health and medical need and move from one point to the other. These are demand driven sectors.

Even with declining disposable incomes, Nigeria is still the largest market in the black race take it or leave it and with the exit of multinationals, private equity investors and local manufacturers have no excuse than to substitute immediately whilst creating a homegrown solution.

Nigeria still has the largest data market penetration in Africa, The most prosperous and active FINTECH start-ups ecosystem in the whole Africa, The most engaging entertainment audience verified by Sportify, YouTube, AppleMusic and Boomplay. Facebook also acknowledge the traffic with the inclusion of Nigeria for its monetisation to improve audience in the country.

The Asians (China, South Korea, India) have gone through this phase before and are currently positioning itself to tap the huge opportunities in the Nigerian Market.

Opportunites & threats are bound in every society.

[quote author=TOMMYS post=130833671]For obvious reasons, I don't want to believe the crap of "lack of liquid foreign exchange" bla bla bla is the reason the multinational are leaving.

Open your eyes. Something is brewing. The multinationals know a secret we aren't privy to yet.

You are smart & observant. Yes, they know what we don't know and it's simple.

During the last regime some multinationals lobbied and got FX at official market rates @ less than N450 -$1 and round tripped to the parallel Market @ N600-$1 to desperate Black Market operators.

This reason above meant that Government subsidized their differential between the official rates and black market running to over $1.5 Billion monthly which was removed with the floating & unification of the FX regime.

Secondly, The scarcity of FX for repatriation is a major factor. The time value of money is in the present. By the time the FX obligations and back logs were cleared it disrupted the operations of those multinationals leading to mind-boggling losses. The.value of the funds to be repatriated had been eroded.

The exit of the Multi-nationals if carefully reviewed may be the biggest blessing for Nigeria in disguise.

Most countries in the world that achieved domestic "Home grown" economic development did so by leveraging the prosperity of its indigenious private sector especially the Manufacturing sector.

Let the Multinationals Go ! They are majorly profiteers, exploiters and opportunist.

Sovereign Countries that conquered poverty did so with home grown solutions with the Buy-in of its prosperous citizens.

Countries like South Korea through the Chaebol, Japan through its Zaibatsu, America through its Corporate Elite group, Britain through its London Stock Exchange Group (LESG) have a sound think- tank and home grown indigenious elitist groups who intervene with policy support from Government on market share, ownership structure, employment targets, protectionist laws limits etc.

Transcorp Nigeria was instituted by the Obasanjo regime solely for this reason i.e To have Nigerian businessmen and women with Nationalistic ideals gradually substitute Multinationals in core sectors of the economy including Hospitality, Manufacturing, Agriculture, Banking, Oil Exploration etc.

Nigeria still remains the most attractive market in Africa based on an intimidating population estimated as over 200m with over 55% as active and youthful.

There is prosperity lurking in Nigeria in ample quantity with transition from Multinational exit to a homegrown Industrial revolution.

Asians have identified this huge potential and have started taking position already. An example is in Tolarams through Diageo and the dominance of the FMCG sector by Asian products through the Lekki Free Trade Zone.

Recent reports indicate that with the exit of GSK Pharmaceuticals there is a big gap in the provision of inhalers for Asthmatic patients with GSK dominating 85% of the Ventolin and Seretide inhalers market share. This leaves patients to pay exorbitant prices and prey to adulterated inhalers. An immediate intervention by a local manufacturer means the demand is already present in a large market of people with medical needs.

The SMEs that have done well for themselves e.g the FINTECH, MFBs, Banks, Pharmaceuticals, Agro-Allied Companies, FMCGs should move swiftly to seeing big opportunities and take action.

Nobody will do it for us !

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Grapevine information had it that when David & Chioma seperated and had issues years ago the reason was because Chioma felt uncomfortable with Imade Adeleke's unfiltered access to Davidos apartment and space.

Davido had a burst with her and partially seperated from Chioma which was when Sophia came back into the picture for a while as Davido deeply had a special love for Imade & Ifeanyi who had unrestricted access to this apartment and space.

However, within the period Davido and Chioma seperated Chioma never went on any social media platform,any third party or podcast to gaslight Davido and put him in bad light in the media.

Sophia was more visible with David within this period and he had a Grand birthday party for Imade where people thought Sophia had reconciled with David.

Unfortunately for Sophia, Chioma reached out to Davido and reconciled with Davido which had them come back with Ifeanyi his only son as the pawn for Chioma.

Sophia wasn't happy and she unfollowed Davido on social media when pictures of Davido and Chioma showing affection to each other and even attending Isreal Afere (Davidos Logistics Manager) wedding together surfaced.

Disaster struck and Davido lost Ifeanyi, in one of the most life changing and unfortunate event in Davidos and Chiomas life.

The lovers were devastated and Davido deleted all his previous pictures on Instagram leaving only Ifeanyis picture he snapped few weeks before.

Sophia was the last Baby Mama to post and condole with Davido ( at least openly) she reached out to him on social media after more than a week when the unfortunate Incident happened.

The event above led to Davido 'fully' cutting communications ties with her as her action of not reaching out immediately was termed as been utmostly insensitive.

This affected the relationship with Imade as David didn't want to even have contact with Sophia again except for Imade and through a nanny or third party bringing the child.

The fact is simple the late " Ifeanyi" Chiomas son had just one mission he came to do on earth before his demise. To bring together Chioma and David as a couple using himself as a sacrifice for the Union.

Unfortunately no one can do anything about this as the heat seems to be more as a result of Davidos wedding.

PS : He had to institute a court case on joint custody as he was being accused of being deadbeat.

I can beat my chest confidently that Tokunbo Wahab - Commissioner for Envrionment is the most Audicious and most pro-active cabinet member in the Sanwo-olu led Administration.

Although the floods in Lagos are predictable and nature based as Lagos Island & some parts of the Mainland are way below Sea level and flood prone.

Also the Climate Change phenomenon had increased the intensity of the rains creating unavoidable shocks to costal cities like Lagos State

His proactive steps earlier in the year shows commitment and Tokunbo needs to be supported to do more.

The Commissioner should get the maximum support of well-meaning Lagosians as he has shown guts, capacity, balance and fearlessness in the pursuit of a habitable Lagos State.

You have our full support sir.

If President Bola Ahmed Tinubu replays the video of himself at Abeokuta, where he Addressed APC members with the now popular speech of " Emilokan" he would forever regret the statement and assertion.

Based on the brutal truth revealed by Prof. Chukwuma Soludo during his presentation on the Platform organised by the Covenant Christian Centre, No sane Nigerian would want to say " Emilokan" for an economy already on ICU before the PBAT regime.

Based on facts and data listed by Prof. Soludo, The Economy was damaged with excessive borrowings & uncollateralized printing of money beyond what even a "Genius" and expert could turnaround in 4 years.

Let PBAT face his cross alone, He boasted ; " I asked for the Job, don't pity me" .

Now he is faced with the reality of running one of the worst Governments post '99 Democracy & post Independence.

We will not pity you sir. You told us not to.

Nigeria as a Federation is blessed with one of the most fertile land globally.

The Geographic world division of the Northern Artic and Southern Hemisphere has Nigeria slightly below the equator.

Nigeria is super-blessed and our colonial Masters had a pre- knowledge and took advantage of the enormous resources through the formation of the Royal Niger Company later transforming to UAC.

There are some countries in the world that plants cannot grow in the wild ( Artic Zone). Those countries don't experience food shortage like the blessed Nigeria.

The last palliative programme for all states should have been targeted at the planting of Food crops with a gestation period of 6 months,The Food security challenge would have gradually faded.

The weather thus far this year 2024 has been excellent. Good rains balanced with abundant sunshine.

The President and the State Governors need a common policy direction on food security especially mechanised farming.

Rather than share food items like Grains and staples for palliatives, Let the palliatives be subsidized for massive mechanised farming equipment like tractors all over the country.

It's a just a shame that insecurity in the food belt has dealt us a major blow.

Let the president step down this request ASAP.

There is no tangible Justification for the Ibadan Airport for International Flight Upgrade.

I once lived in Alakia, Ibadan and the number of passengers and also human traffic in the Airport doesn't justify an International Status upgrade.

The MMIA will suffice whilst the Lagos-Ibadan Expressway is a super highway sufficient to move people across the geo-political zone.

i can say for free that either Wiz-kid has an underlining Mental condition or he is outrightly a jealous human.

Him and Burna would mend fences by attending Davidos' wedding.

Why all of a sudden the cryptic messages ?

Park well joor.

In all fairness, Give it up for Dele Alake the Minister of Solid Minerals Development.

Grapevine and informal feedback from the civil servants in the Ministry is that since Alake resumed in the Ministry of Solid Minerals, revenues and income has geometrically doubled with over 60% based on the new licences issued and due diligence on Mining activities.

If a new KPI review is done in Three (3) - Six (6) months, He would have outperformed Tunji Ojo, Umahi & Wike combined.

Mr. Dele Alake in the last six (6) months has consistently shown a clear policy direction with good Team leadership trait in his Ministry.

Weldone Mr. Alake, continue the good works and congratulations.

The Court also re-instated Sanusi Lamido as Emir but Ganduje refused the order of the Courts then.

The matter will end in the Supreme court.

The Kano State Governor reserves the right of jurisdiction over chieftaincy affairs.

The Judiciary should be seen to be above board here.

Forums like Nairaland may serve as a good feedback measure to filter varying opinions and suggestions and as an adult you can pick the best that suits your current situation.

N700k in a year is N8.4m per annum. i.e N700k x 12 Months. Majority of the hardworking Civil servants, Bankers, IT professionals, Engineers, Doctors , Lawyers and even Soldiers don't earn such an amount after a year.

And you have magnanimously chosen to use it for upkeep of a young family where your first child is just 10yrs.

The future is even more expensive as quality University & Secondary schools are super expensive.

1, The amount is too much for a family of 4 (Four) haba ! Irrespective of the economic indicies it's a big deal. Why not open a dedicated trust and targeted savings/ investment plan for each of the 4 kids for educational or future purpose.

2, Pretend that you lost your job after applying for leave in your office and you don't go out for 20 days to see your spouse reaction and behaviour.

3, As a Man and head of the family, you need to be assertive and take charge. Reduce the expenses ASAP for the future of your children. Even God doesn't support wasteful spending.

Goodluck and be wise ! Women are attracted to assertive men with direction.

Kudos to Gallant NSCDC.

I heard the personell have specialised military training.

I am proud of the NSCDC.

President Bola Ahmed Tinubu's handlers should be aware of a new generational change in the population of Nigeria and how it may affect his chances in 2027.

60% of the population in Nigeria where born after 1999. In simple terms,the Millennials and GenZ are the most dominant population in Nigeria currently.

In the most rural communities in Nigeria, the GenZ and Millennials are tech-savy and mobile data penetration is over 80% as such giving the teeming youth population access to data and information.

PBAT's ingenuity and invincibility as a "Godfather and Kingmaker" has been badly bruised in the last 12 Months based on his performance. His rating by yuppies through different blogs and social media handles shows the disapproval of PBATs one year performance.

Most people silently wished PBAT had more serious injuries through his June 12 fall so he can feel what Nigerians feel presently.

Currently one of the most viewed YouTube videos is the interview on Arise TV by Charles Aniagolu of Peter Obi, Gathering over 230k views in 48 hours and massive positive comments by Nigerians on the comments section.

PBAT should change his circle and brace-up !

I carefully listened to Prof. Charles Soludo's presentation on the Platform hosted by the Covenant Christian Centre.

The Anambra Governor x-rayed the fiscal position of the Country whilst being brutally honest on the current state of the Nigerian economy.

According to him, Nigeria will end up borrowing to finance recurrent expenditure to run government. Needless say a pure " unnecessary & white elephant project" like the Lagos -Calabar Road.

This road is not needed in the axis. A pure white elephant project.

Trial & Error indeed !

I am very sure that when Reno Omokori was young he was autistic .

Now that he has grown older he is better, but now bi-polar.

Good riddance! When a full grown Man with grey hair jumps on every topic and has an opinion on every thing like a petty market woman.

Within Government circles and in PBATs regime, it's well known that the most audacious Public Servant is the CBN Governor- Yemi Cardoso.

He takes decision based on superior convictions and in good faith.

Those Directors should go, they were culpable, unproductive and indicted.

The CBN needs egg-heads to improve the quality of policy execution and direction.

Good stuff Cardi B

If the Minimum wage of at least N100k fails to be implemented, it's purely the doing of the Governor's and their self centeredness and barefaced greed.

Gov. Obiano was alleged by EFCC to have diverted and stolen SECURITY VOTE of over N4B for the last month he handover power to Prof. Soludo and changed it to dollars through a BDC.

Gov. Yahaya Bello was alleged to have stolen over N8B including transferring $760k to an American School as proceed of Crime.

Former Governor Ikpeazu of Abia State was alleged to have allocated N10B to a non-existent Airport.

Even our erstwhile respected Kaduna Gov. was alleged to have syphoned over a whooping N400B through uncompleted projects etc.

The most corrupt Public officers have proven to be Governors who shield themselves with the blame Game on the Presidency.

The Media & Civil Society groups should embark on the ScoreCard Model for Governors similar to what was done for PBAT during his 1st year anniversary.

The problem of Nigeria has been detected. It's the Legislature and Governors who can't sacrifice for their citizens by reducing cost of governance and allowances.

Simple !

HBD Dbanj !

As a concerned fan of Dbanj and since I don't have personal access to an interface with him I would want to use this medium to give him an opinion on an issue which he can amend maturely.

Please Dbanj, reconcile with your brother-in-law - OAP Dotun (The Energy Gawd)

Irrespective of what may have transpired between Dotun and your sister please make amends and be a bridge builder.

Also advice your sister to give him access to his children. Through Dotuns' posts on his social media handle, the Man seems broken and suffering part depression as a result of not being able to see his kids.

You both are in the entertainment industry and have similarities in industry background as successful veterans in the industry. Dbanj should be a bridge builder for his sister and Dotun.

As you clock 44 Dbanj, may God give you unfettered wisdom, knowledge, understanding to navigate life challenges as they come.

Many happy returns Ski-banj !

Prof. Pat Utomi during one of his recent interviews said that the biggest foundational problem of the PBAT Administration is the " Trust Deficit" the regime suffers from majority of Nigerians.

Unfortunately for PBAT the trust deficit is gradually spreading to his traditional support base which is the South West of Nigeria.

The prevailing hardship and policy inconsistency of the Tinubu regime in the last 12 Months makes it difficult for APC supporters to defend his policies.

On resumption of the Minister of Finance -Mr. Wale Edun, he specifically announced that the PBAT Administration would not borrow to fund the economy.

The Dangote refinery which would be a key game changer in the downstream ecosystem cannot source local crude oil as a result of forward sales like this to AFREXIM Bank.

Godwin Emefiele was accused of plunging the nation into an abyss with debt of Ways & Means and forward Sales contracts and the PBAT Administration tows the same path.

Funny indeed !

Congratulations to the First Lady of Ekiti State.

The truth is that the most difficult and time consuming part of academics is the Ph.D because its' research & attendance based.

You need to be a brilliant person to earn a Ph.D.

Attaining Professorship is based on several considerations including politics !

A body of Professors in your field and the school assess the students academic contribution, your membership of relevant academic association, the number of Ph.D students you supervise, the feedback from your supervisor and most importantly how well you "manage relationship" with the awarding institutions (Politics).

For those who commented above it is as a result of politics, yes it's a factor and also your competence and academic achievements too. " Every human is a political animal".

Pastor Enoch Adeboye - General Overseer of RCCG was also awarded Professorship in UNILAG based on his contribution to both academic work and the society.

Congratulations, Mrs. Oyebanji (Ph.D) !

Government still pays fuel subsidy obviously.

What has been removed is the corruption and Cabal from benefiting from the fraud which plagued the Subsidy regime of the past.

Government doesn't need to be secretive about this as it is super obvious.

Indeed " Subsidy is gone !'' lol !!!

The House of Representative members should be circumspect and careful with their utterances at this material time.

Nigeria has an estimated population of people living below the poverty line as over 50 Million people. This people are bitter, angry and are apprehensive of the state of ostentatious lifestyle House of reps members . They are just 360 members in the lower house. And the poor outnumber them thoroughly.

The RMAFC (Revenue Mobilisation and fisical commission) has employees who have families and know the exact total emoluments and benefits of the House Members. This also include the Notorious Allowances and Constituency projects running in Millions.

N100k is a good bargain.

Let the NLC/ TUC accept it with additional perks like subsidized transport especially Lagos State.

It's a win-win for Labour & TUC @ N100k.

Up Labour, Up TUC !!!!

The Government still needs to fine-tune the Price Control Boards.

I watched Wale Eduns' interview with Seun Okinbaloye on Channels TV today.

The Minister put on a very unprepared, incoherent and jittery interview.

The interview from the beginning till the end seemed like he came very empty. No action words, no assertiveness, no enthusiasm, no coherence.

I am aware that Wale Edun was former Chairman of the Nation Newspaper and a member of the so called " Kitchen Cabinet" & "Lagos Mafia".

However, he showed a very low sense of tact & delivery in his articulation on the Nigerian Economy.

Even a mentally deranged person, resident in Nigeria knows this is one of the toughest period for a salary earner. The major problem of Nigeria is the economy and he said next to nothing but futuristic promises as usual.

It's indeed a shame !

For this particular strike, The Labour Union and TUC have the backing of every meaningful Nigerian.

The handlers of the present PBAT Administration should be sensitive to this strike. The timing of the strike is strategic and the need is overwhelmingly necessary.

Politics is over and PBAT has only this year 2024 to show action on the plight of Nigerian workers aggravated by the evident hardship in the land.

Once INEC announces the Timetable for the next presidential election next year April 2025, All attention gravitates to politics and re-election.

1, With feedback and major rating of the PBAT regime on his one (1) year score card, it was poor and below average. The regime should instinctively understand that there is a major dissent among average Nigerian residents on their perception and tolerance of his Government.

2, PBAT as the Head of the Government and leader of the country has failed to lead by example in both the anti-corruption fight and being accountable to the Nigerian public and workers. Till date the president has not declared his total assets ! Why ? What is he hiding . No matter how bad Buhari's Govt was we no doubt cannot fault his integrity as he declared his total assets even to his domestic animals.

3, ALL principal officers in the Senate got a minimum of N3B as constituency projects in the 2024 budget whilst the Senate president Godswill Akpabio got N20B. Nigerian Workers were watching !

4, The Judiciary Workers have gotten a geometric increase in it's allocation and the speed of its salary implementation and review is suspect whilst showing clear political patronage and favour seeking. The Labour and Workers were also watching !

5, The size of the cabinet of PBAT shows a clear disconnection between allocation of lean resources. Nigeria is currently running an over-bloated Executive & Legislative overhead at the detriment of the Real and Productive Economy.

The minimum a Nigerian worker should earn is between 80k- N100k monthly for Federal & State Government, Whilst the OPS can be adjusted based on the prevailing unfavourable macroeconomic environment.

This move by Cardoso is highly commendable and shows audacity.

PBAT obviously has taken politics more serious than governance, this are the type of audacious decisions that PBAT should be taking.

Even within Government circles and in the PBAT "Kitchen CabInet" Cardoso is one of the most respected for his strict financial discipline, shrewdness, frugality and incorruptible nature. He has a tested track-record for being upright in Financial Management and a private sector like approach in achieving results.

The CBN structure needs to be realigned to be energetic, intelligent and less bureaucratic. These directors will be paid fat gratuities and pensions. Let them go !

To achieve a $1 trillion dollar economy the CBN needs new breath of air and initiatives to fast-track its progress.

Ganduje using Federal Might.

May God judge the Dollar thief soon.

Even the youngest neophyte knows that this is orchestrated, organized and sponsored by Alhaji Umar Ganduje.

Let Ganduje gallantly face his shameful corruption charges where forensics have confirmed his video of stuffing his Babariga with Dollars from a contractor.

It's a done deal Ganduje !

Pride goes before a fall.

Never run out your "Survival Instinct" in Nigeria.