₦airaland Forum

Gajagojo:
You cannot outdo your brain
That is the scope of your understanding
Credit is not only from another person's money deposited in a bank
It is created by all kinds of entities not just government
Money is simply put a contract between two entities.

This is beyond your comprehension

You are operating at the textbook level of undergraduates

Very soon all Money will be digital

We are all learning here and we know only commercial banks give credit. Can you explain to us via your big brains where else credit can come from apart from money deposited in banks by another person?. Kindly do a short thesis

Boondocxs:
Another angle
It may be that when he requested for his cert many years later after he graduated
She signed it I get your point you’re making

Jagaban army may we never labour in vain

Labour may be in vain for the labourer but it will add up for the greater good one way or the other

Gajagojo:
price is determined by many things ultimately by what the market wants to pay
If your cost of production is too high or inefficient you will sell at a loss
Your theory is wrong what matters ultimately is the demand and supply all this stuff you are talking about is tangential. If the economy is growing printing banknotes will not automatically lead to inflation.
It is Sometimes even necessary to print banknotes to catch up with growth
However your concept of money is of limited understanding
Money can be created where enough banknotes do not exist by CREDIT if retailers offer credit or banks issue credit cards that increases the supply of money. Not all money is bank notes
Fintech companies like VISA and others that issue and process credits and other payments are effectively "printing money". In hundred years there probably won't be any printed money anyway. It is clear you have very limited understanding of what money is

Let me just point out the only thing you mentioned not addressed in my original submission. All monies exist only as bank notes and any credit you get from any bank was gotten from another person that deposited money in order to take interest. What banks do is merely a brokerage service which anybody can do. Take 100 million naira from somebody and give them eleven percent per annum, then hit the ground running to find ways to lend the same money out at an average of thirty five percent and from the difference you pay your workers, meet your expenses and pocket the remainder. That is commercial banking in one sentence. I have nothing more to add. Go back and reread my posts to understand the meaning of inflation and how the price of any product is determined in an ideal market that is not an opportunistic market. Good luck

Gajagojo:
There is no basis for this neither that

The value will drop at all
OR
that is will drop by
Twenty percent

Firstly there is no such thing as absolute value different things in the market have a price determined by the demand and supply of those
things which is not necessarily tied to money supply e.g after a bountiful harvest the price of yam can drop while the price of oranges increases at the same time

Price is determined by cost of production which is also affected by inflation but price can go up or down on its own without inflation since the primary determinant of price in an ideal market is cost of production. I have already pointed out that it won't increase by exactly twenty percent since population is increasing and the use of money is also increasing with it and causes deflation, some mornies are lost, buried underground, used for rituals, burnt and etc they will cause deflation so whatever volume Increase you printed as a central bank, inflation will be lower than it. Therefore all governments use inflation as back door taxation but it is more in countries that don't want to pay tax. They end up paying far more. BY FAR MORE. and the excess is spent anyhow by government. See Emefiele and Buhari. Emefiele was paying an unbudgeted 500 billion naira every month to one Alhaja as directed by Buhari. Inflation system or sleight of hand by inflation etc etc

headboyprince:
get away... is nigeria developed enough to produce many things on their own... from clothes, to shoes, to phones, to furniture, electrical appliances is imported, and you pay in hard core dollars for it... a small fridge of ordinary $100 there will be 100k here... $100 is nothing over there but here is more than many people's salary in nigeria.... yet things are cheap to you guys... you guys are celebrating extreme poverty and low standard of living. spits..

It is true but also not true. With one thousand dollars, you can live for a whole year as a single person in a Nigerian city and live well. Smart phone, good food, good accomodation, good clothes and recreation even have a girlfriend but as a single person. Is that an advantage or a disadvantage for any country?

Obaaderemi2:
This thread was opened yesterday, in the afternoon. This is another day and the thread is still standing. Why it has not been pulled down is baffling. A time is coming when nairaland's owner will have to answer for the embers of disunity and tribal chaos he fans on his site.

Useless bigots, both ibos and yorubas open tribal threads and they are left there to cause insults and rile up one another, especially those of us who are forced to take sides from time to time. It's pathetic.

The real solution actually is to ban anonymity on social.media

Babysho:
When you say inflation is the"rate" of printing new currency, do you mean rate as in cost or rate as in frequency?

If 100 naira is in circulation and you print 20 naira more the value will drop by twenty percent if the use of the currency remains constant but it never remains constant and money also drops out of circulation through other means, so the inflation will end up being lower than the percentage increase in volume of money. That is ALL there is to inflation apart from big grammar. If no inflation there will be no devaluation

njambert:
Wow no idea where this is coming from.But okay.

You replied for Nucypher and I mistook you for the individual but I have edited the response. Sorry about that.

Aimajoyce:
You confused him with NuCypher.

Thanks I have edited the reply.

BabaRamota1980:
If you ask non-Yorubas in Nigeria and in other regions of Africa to tell you 10 things they know or have learnt about Yoruba, you will get different responses. When you filter through the list a particular duo character will have highest hit. This character is HOSPITALITY AND SPIRITUALITY.
. Yorubas are very warm and welcoming, they adhere to principle of live and let live.



If you conduct similar survey and ask non-Hausas in Nigeria and elsewhere in Africa to tell 10 things they know or learnt about Hausa you will end up with various traits on the list. What will emerge is a defined trait of TRANSPARENCY AND RELIGIOUS CULTURE. Hausas are open, known to standby what they say, and they are intolerant of competition with Islam.


Let's conduct exact similar survey to ask non-Ibos in Nigeria and other regions of Africa to submit input and list 10 things they know or have learnt about Ibo. The submissions will include different traits, but when filtered for a single or duo-character trait, WHAT WILL THEIR CONCLUSION BE?


This is for non-Ibos in Nairaland to respond.
Take a guess and submit what you think people are saying about Ibo across Nigeria and Africa.

I will provide answer at a later date.

Thanks in advance for participating.

More or less all or many Yorubas have Igbo family members and they have no issues with those family members. Most Nigerian criminals in North America are Yorubas and they have syndicate. That more Igbos are being arrested for drugs in Asia does not mean Yorubas are not into crime. It is only different sectors and maybe Igbos frequent Asia more. Among Ijesa for instance, you will find all sorts of criminals as well as good people. There are many Igbos online insulting others and originating verbal assaults and it is only those that should be replied proportionally without lumping everybody together while the more important task of dividing Nigeria is focussed on. Civil war will not end until Nigeria is divided.

TheGoodJoe:
In all that is written here, there is no picture of how what the man is saying will make sense. Boosting production will require inflow of funds. It can't happen in a corrupt system.

He is only a journalist and sn anonymous one. Currency is only backed by durable things and not perishable commodities like cassava and presently no currency is actually backed as gold locked in bank vaults is meaningless. It has no effect on anything. Currency is backed by the people who have no choice but to accept it and by nothing else. Inflation is the rate of printing new currency and Nigeria does it a lot as a form of back door taxation.

emmanuelbrown26:
D more Yorubas keep supporting d man d more they keep proving me right that Yorubas are d dumbest tribe in Africa

If you describe a highly organized people of 100k population to me as a tribe in a final year thesis then you will not graduate that year. You claim to stay in Lagos though I doubt it as your name is probably fake but you spend all your time online abusing your hosts in Lagos. Why not relocate to the East if you have no training of relating with others even if you don't like them?. Don't spend your online life on this kind of thing. You can initiate academic arguments and people will contribute

TheGoodJoe:

You can't gain from such without massive investment. No matter the program you have, you need capital to get to the end users. In Nigeria, our political system makes a large chunk of our resources end at the tables of politicians. That is why nothing works. Not that there are no products to export and trade for revenue.

Nigeria do not produce enough cassava for local consumption not to talk of export. Export is negligible but Nigeria us the largest producer on Earth but it is staple food here and China wants it for piggery feed. Cassava can replace flour for bread and Indomie. It can be used for many things but the price will have to drop for China to be able to afford it for piggery feed. If we double production, it can still be consumed in Nigeria. It is however not a forex earner. Forex earners are remittances, oil, Nollywood, cocoa, and tens of others. Cassava is not been exported much. It does not account for significant forex but it is a major sector in the local economy

There is nothing like commodification of currency. The highest you can do is ask to be paid in your currency but it should not be government turf since tax is never in a foreign currency and government should depend on tax. If a Nigerian exporter is selling to a Brazilian they will ask for dollars unless the Brazilian can raise another currency useful for the Nigerian exporter. Any currency only have value because of the people forced to collect it not for any other reason. If the people emigrate the value of the currency will drop

Stephench:
There's absolutely no basis of measurement but if we're to be rational, life is 20x cheaper in western Europe than it is in Nigeria. Average basic salary here is €1000 and 3 bedroom apartment is average of €500 to €1000 depending on the city. Single room studio is 300-500 depends on the city. Average monthly bills for power and water is €150 water and €150 power for 3 bedroom with about 3 to 6 occupants and much less for studio apartments.

Using my Nigerian friends here as example, they live 6 in an apartment - 2 in each room. They're all earning average of 1000 a month. Note that this apartments are state of the art with all appliances and furniture. They pay about 170 on rent a month, 50 on bills a month. 40 Euros on bus card or they buy scooter then no need for transportation. Spend average of 200 on food at the end of the month, they have 500 left after expenses. and they send some money back home - I'm not talking on hearsay but what I experienced over the years.

Meanwhile, I just arrived Nigeria and I saw that basic salary is 30k and this 30k but most people in Abuja and Lagos that I've visited are working in places far away from their apartment which means this salary is not enough to transport them a month. How do they survive is what I don't understand. And going to the market to buy simple foodstuffs and beverages, I've realized that the prices are very similar to what's applicable in Europe despite the fact the salary is 20x higher - this is diabolic. I heard that the prices skyrocketed in Nigeria but it's the same in Europe - prices skyrocketed and it's still similar.

Life is difficult for minimum wage earners in Nigeria but not so in Europe is the difference. If minimum wage is raised to bear high tax and enforced on all employers, then Nigeria will become like western Europe instantly and the leaders will also be responsible not because they love people but to secure government revenue. Presently a young man in Nigeria who can write a business plan is made for life if given ten thousand dollars but in western Europe, the figure needed will be in the region of 150k to 200k dollars and that is the problem. If you can save or you have 50k dollars it is better to relocate to Nigeria but for lower cadre work, western Europe is better but I am talking about people who can run business

Stephench:
Who is talking about buying in the restaurant? Foodstuffs, edibles for cooking at home.

The only foodstuffs more expensive in the EU than Nigeria are Nigerian imported foodstuffs. I cook with mostly Nigerian foodstuffs and I use mostly Nigerian beverages that's why I always spend higher than the average Nigerian here - otherwise things are really cheap.

Cost of living in western Europe is more than fifteen times more expensive than that of Nigeria. Raw food is not the measure. Rent and services are.

emmanuelbrown26:
Are u spitting on him or are u seeking for solution?
I said it d other time that Tinubu needs to swallow his pride and call business gurus to teach him how to move d economy forward, but his arrogance won't allow him

If he swallows his pride, I URGE you not to support him. If you do, he can still later send assassins after you.

planetx:
How can food be cheaper in the EU than Nigeria, what kind of food are you talking about. Is it restaurant food or raw food, with 2 or 3 euros you can eat a good meal in a restaurant in Nigeria where in the EU can you eat a 2 or 3 euro food in a restaurant.

Rent and services which makes up the majority of any economy is more than ten times more expensive in high income countries but raw food and manufactured goods cost essentially the same but only because of subsidy to farmers in high income countries Is raw food the same cost otherwise imported food can dominate their market and our own food may be more expensive as well because of their demand. Their demand is why crude oil is expensive. If our cost of living were the same then crude oil will crash to like seven dollar per barrel and petrol will become like sixty naira per liter in Nigeria but that can not happen until Enoch Adeboye is killed for the seven people he has killed including one of my friends John Audu of Eke Avrugo Kogi state who refused his mouth watering offer to him to assassinate me for seeking change in Nigeria

How can any west African country with low GDP per Capita have a higher cost of living than Nigeria? All countries with lower GDP per Capita than Nigeria are cheaper to live in than Nigeria especially if average age is the same. It includes more or less all west African countries. Ethiopia, Haiti, North Korea, Bangladesh, Pakistan, Afghanistan Zimbabwe and many others but Nigeria is harder to live in because of power blackouts and more inflation. West African cities without Nigeria is closer to South America or Eastern Europe if not because of population explosion resulting in high dependency ratio and hence low per Capita income. No country with 3000 dollars per Capita income is poor

emmanuelbrown26:
Look at how d votes were casted, Yorubas voted for Tinubu
Igbos voted for Obi
South South voted for OBI and Atiku
While north shared it with Atiku, Tinubu and Kwakwanso
D votes Obi got in Lagos was bcs Lagos is a place with different tribes. If Lagos were to be Ogun, Ondo or any western state, believe me Obi won't hv gotten anything.
So therefore, Yorubas brought us into dis mess and they are d ones feeling d heat most

Why would you say Atiku won in some SW?. Which place in Nigeria does not contain different ethnic groups?. Abuja is more mixed even Kaduna, PH, Onitsha are equally mixed but Lagos have more population but it is not the only mixed place and if non Yorubas leave SW and all Yorubas from other places return then the population will swell and not reduce. Lagos is not different from SW and the only thing Igbos do in Lagos not done in other SW is maybe sell vehicles and not much. Other things is still what they do in places like Ibadan, Ilesa etc. So Lagos is just like Osun, Oyo or Ogun apart from a few markets dominated by Igbos or Hausas but total traders might be seventy percent Yoruba women and some men. How do you intend to have Biafra if you think Lagos is more mixed thsn Abuja Kaduna or PH?. Focus on what is possible. Non Yorubas are not different from Chinese with Nigerian passport in Lagos

For as long as Nigeria remains, unhealthy competition will remain and that is a form of civil war. Therefore every sensible person should focus on bringing an end to the Nigerian union or republic

njambert:
Take it easy.We can have a civil discussion and even disagree without insults.

He demonstrated that such was not included in his home training

[quote author=Manofsteel2013 post=126047892][/quote]They have read that my perspective up there

NuCypher:
It's not your business if he chooses home schooling. Many kids have been successfully homeschooled without any issues in their future or their career. In fact, he's better off with that choice. What's grossly improper is for you to think you have an opinion on the subject

Why is it not my business?. I only gave honest advise and you are anmidiotbfor saying I should not have an opinion. A mental case

All refineries will be more or less useless in ten to twenty years

njambert:
Good points.
You forgot mentioning one of the top 3 reasons which is providing Religious instruction.

One of the reasons people don't go the homeschooling route is fear that they are incompetent to do it, whereas lots of teachers I know who became homeschoolers rather say the fact that they were teachers was rather a hurdle than an attribute to them in homeschooling.

Sacrificing your career to homeschool one or two kids is not living. It will adversely affect the economy. A teacher teaches up to fifty kids or more a day in different classes and if it is a class teacher, it can be twenty permanently, if a high school teacher, it needs specialization and one teacher will teach several classes a day. Therefore a parent teaching only one kid is a drain on the economy, a waste of human resources. What are you afraid of?. A child needs also to mix with other kids in a community of kids as it is part of growth and development and no one parent can teach all high school subjects efficiently especially in the sciences but also others. There is nothing bad in day school. Let your kid go and return everyday since you pay tax too and if there is a good boarding school it is also okay since it is a community too and whatever is agreed to be taught to kids by the majority should be acceptable because majority carries the vote

First, Alhaji Balewa became PM only because the NPC made it clear that if they were not given the PM post then the North will break away. Dr Azikiwe did not want that so he accepted the position of President and highest ranking citizen while granting the PM position to Alhaji Balewa bot Dr Azikiwe was the boss and would be greeted sir by the PM. He was in government and dictated many things.
In 1999 after the government murder of MKO Abiola, the OPC were ready for war. It does not matter if they had no guns. Use whatever you have and some onlookers will come to your aid. You can't back down under such circumstances. If other people apart from Yoruba were allowed to contest in the general elections, there would have been no Nigeria today. Fear led the power brokers to give the Presidency to Obasanjo who was not even the Yoruba choice The CIA were watching the drama. I joined social media in 2007 after NYSC in 2006 and I was the only person in the country with a viable way forward by saying repeatedly what many global figures have said. Dependence on oil is Nigeria's problem. Reduce oil to ten percent of revenue and Nigeria will change in seven days Enoch Adeboye of the RCCG responded by paying a juju man to run me mad. The CIA sprung into action and systematically set Rihanna lose on him. He started sleeping with her and discussing me since he saw her on my likes on Facebook. She got some videos of me from one Tola Ekunsanmi that I was asking to date. She edited those videos to portray me as a paedophile and showed them to Adeboye. He pounced on it and used Tola Ekunsanmi by manipulation to submit to the DSS. CIA analysts studied the situation as I was being humiliated online for being a patriot and they estimated what will happen as soon as I know the CIA is on my side and they issued a prediction that Nigeria will break up by 2015 because they knew I would ultimately push for that but in 2023 it is yet to materialize but it soon will. If it were an Igbo man that was killed like MKO was killed than it would be either war or another Igbo as President or what do you think?. Therefore what happened in 1999 was not a concession to the Yoruba. It was fear of war. You can predict the beginning of a war but not the result or end. Who do you think the CIA would have supported?. OPC or the Abdulsalami and Babangida camp? That is the issue. If the war had broken out, both men will not be alive today. Nobody hates the Igbo but it is not a one party system and any zoning policy by one party will certainly be exploited by another party and that is the problem. How do you solve such a problem?. Then if there is an irresistible politician in the East with evidence on ground of performance then such a person will certainly win election as did Bola Tinubu. Being President is just a nominal position and there is a limit to the liberty associated with it. A President can be assassinated and three have been assassinated in Nigeria and any false move can result in that. So no real advantage in being President and it should actually be contested for and be merited not offered as of right or on a platter of gold. Many Igbos are capable but the only viable state in Nigeria is Lagos and that contributed to Bola Tinubu's ascendancy to the Presidency as former Lagos governor. Nigeria will nevertheless break up soon. In an Igbo led country, there will be no tussle by Igbo as a group for leadership as they will even be comfortable to let a minority lead

There is no need for restructuring for any state to become as prosperous as Lagos. Lagos government is richer than Ghana's government and why support restructuring when it means you will pay up?. It does not make sense. Oyo can make seventy percent of Lagos revenue and Osun can make thirty percent. The only change needed is state police but the best is disintegration for everybody to control their own money and military as well as economy.

rayopt:
Bro, I left Mission House last year. I know how cheap it is but coman see people's reaction last year when they increased it a lil. You would think it was that expensive than buying fuel. Some of them are even bypassing the electricity without paying. Even pastors ooo. That is why I say most Nigerians can't afford good governance. Because any small hike, na wahala.

Good governance is cheap. It costs nothing and eradicates poverty, unemployment and illiteracy while increasing the number of billionaires

A market causing obstruction should be relocated to another location. If it is a specialized market or international market, it can be relocated even to another city as the customers will always find their way there and any amount invested can not be lost and traders will only need to pay rent for hones in the new location but when uprooting people from their income source, there should be alternatives for them. That is very crucial and such is easy for any government to handle

Omodua:
You see your life!

Bringing ethnic bigotry on a very important issue. I would have expected you to suggest Federal government embrace the idea than giving it a primordial content.

Biafra invented so many things without importing during the civil war. Did government deem it fit to invite the inventors after the civil war. Nil. They didn't. And their invention died.

We are not a serious country. And that's why there is separatist agitations all over the country.

Àll developed tech should have been sold to serious companies seeking profit at least just like Makstech Nigeria limited in Ilesa sold their technology to National Inc in Japan in exchange for cash and equipments

rayopt:
You will see some ediots hailing this one for telling us what we already know. That's how fashola brag and brag until dey gave him minister spot. Where is the 24/7 electricity now? Tueh

Of course, we all know it can be done. RCCG and some church-owned communities are doing it. I am doing it in my house and it is not cheap. I keep saying this that most Nigerians can't afford the good governance.

There is a new law that allows states to generate their own power. Oga professor, goan do it in your state or area if it is that cheap. No kon disturb us with your okoto meow. We don taya.

Call someone you know living in RCCG camp and you will find out it is dirt cheap. A whole house with fridge, television and AC might not spend five thousand naira per month. What can be expensive is if you do it for only one home