₦airaland Forum

VAT paid by financial sector is negligible because it is paid on a minute part of their revenue. I believe one brewery will pay more VAT than all banks put together.

Convert the population in your state to revenue and you will get revenue that is up to the ratio of your population to Lagos.

You have advantages that Lagos do not have especially in agric which you just need to convert.

If you are ten million people in your state then with proper organisation you will be able to make around half of whatever Lagos is making

ghm:
Salient point, you raised, here are my findings based on your post.

Looking at Oando's footprint—the company's premises, events, management and staff, buildings, offices, cars, planes, etc.—you will see an extremely successful and affluent company, with no visible traces of a broken balance sheet. Oando is being kept afloat by a legal guarantee from its majority shareholder, an aggressive debt-restructuring plan, and the sheer scale of its assets. But that lifeline has an expiry date, and it is not a long-term solution.

What's Keeping It Afloat Right Now

1. The OODP Letter of Guarantee
The primary lifeline is a Letter of Guarantee from Ocean and Oil Development Partners (OODP), Oando's majority shareholder. It is valid from 25 March 2026 to 25 March 2027. It commits OODP to support Oando so it can meet its financial obligations as long as liabilities exceed assets. The critical caveat: the evidence of OODP's net worth backing this guarantee has not yet been independently verified . This is not a cash injection; it's a promise from a related party.

2. The Recapitalisation Plan
Management has a three-part plan approved by shareholders: a N500 billion capital raise (first tranche N220 billion rights issue awaiting SEC approval), conversion of up to US$300 million** of Reserve-Based Lending debt into equity, and a **US$1.5 billion multi-instrument issuance programme .

3. Operational Cash Generation
Oando is not dead operationally. H1 2026 production averaged 42,789 boepd, up 16%, with production opex down 18% to $16.83/boe . It ended H1 with N544.92 billion in cash . Operating profit was N127.84 billion, a turnaround from a loss .

How Long Can It Keep "Selling Hope"?

The honest answer: until March 2027, when the OODP guarantee expires.
After that, the company's survival depends entirely on whether the recapitalisation plan succeeds. And there are serious doubts:

Negative equity persists: Total equity was negative N530.45 billion at H1 2026 .
Finance costs exceed operating profit: H1 2026 finance costs were N167.58 billion against operating profit of N127.84 billion . The company is not earning enough to cover its debt servicing.

The "profit" is not from operations: N104.44 billion of operating profit came from other income and impairment reversals—not from selling oil or trading crude .

Shareholder governance challenge: A shareholder has formally challenged the US$434.5 million receivable settlement and the proposed rights issue, raising questions about related-party transactions and dilution, with copies to the SEC and CAC .

Could Seplat or Aradel Acquire Oando?

This is speculative, but here's the context:

Seplat is the largest indigenous producer, targeting 200,000 boepd by 2030, with net debt reduced to $370.7 million after repaying $200 million . It has the balance sheet and the operational credibility.

Aradel ended H1 2026 with N1.72 trillion in cash, the largest of the three, and has been on an acquisition spree, consolidating ND Western and taking a majority stake in Renaissance Africa Energy.

Oando's appeal: It holds the largest indigenous reserves and has completed the NAOC acquisition, adding significant Niger Delta acreage .

An acquisition would be a massive undertaking, given Oando's N2.42 trillion enterprise value and N2.70 trillion in debt . But it would be a logical consolidation play for a cash-rich Aradel or a strategically ambitious Seplat.

Bottom Line
Oando is surviving on borrowed time and a shareholder guarantee. The operational turnaround is real—production is up, costs are down—but the balance sheet is still broken. The "hope" being sold is that the recapitalisation will fix it. The risk is that the March 2027 guarantee expiry arrives before the fix is complete.

The company is being run well but no company should be allowed to be paying salaries without paying dividends. The rule can sanitize any stock exchange and even the economy.

If it is servicing 2.7 trillion naira in debt easily then it is profitable but it has an unfeeling management. Why leave shareholders and be servicing only debt?
That debt can be turned into up to 10 trillion naira in equity

They should have mentioned what they ranked the cities with.
The most important things are
Population and urban spread
Number of banks
Number of hotels
Number of registered companies and smes
Government revenue
Number of schools
Number of universities
Number of local companies listed on the stock exchange
Number of local companies employing at least 500 people
Number of professionals registered in a professional body
Tech ranking etc etc

You can infact add yours to all these and do your own ranking and publish it

HAPPY 74TH BIRTHDAY ANNIVERSARY TO PRESIDENT VLADIMIR PUTIN!

Happy 74th birthday to President Vladimir Putin of Russia. I wish him many more years in excellent health and prosperity. Congratulations to him and the whole family.

I am grateful to him for not holding back from mobilizing the resources of mother Russia for me when he was contacted by the CIA (Central Intelligence Agency) of the USA. He was the first non US leader to be contacted and by 2006, his daughter (Elaine) had entered the same shoes as Barbara Bush junior. Earlier, he took up the task of sending my Dad's cousin to me by proxy to find me an industrial training placement in NAPIMS, NNPC Ikoyi Lagos and I left the placement I secured for myself in Ilesa because of that. It was a surprise to me back then because I was not planning NNPC and even those who planned find it difficult to secure the placement. That must have been in 2001 or 2002 and my life by then was no longer mine though I had no idea what was happening.

He just added Russia to the effort on automatic and then his daughter too joined on automatic when everything had escalated. He has not looked back since then.

The Supreme Eiye confraternity was mobilized by the Russians on our side under his and his daughter's leadership and soon after, the gangster Pastorpreneurs here in Nigeria as well as Queen Elizabeth, Benjamin Netanyahu and etc realized they had chosen the wrong victim.

President Putin is so devoted to what we are doing that my late Dad, Pastor John Lawanson was code named Putin by the CIA.

I am grateful and indeed lucky that he is in my life with the resources of Mother Russia.

I once again wish him happy birthday and many many more years in excellent health and prosperity on this his 74th trip around the sun.

May God be with him always and bless him abundantly.

Kalulu44:
Don't equate population with land mass. Lagos is overpopulated, but how do you share the tiny/small land mass when you want to create those states from it?

My own belief which is also the position of the independence constitution is that states should be created on demand. A 20 million population state can exist side by side one of 500k population but there should be no senate giving them the same representation. The bigger state should have 40 reps while the smaller one has just one. That is what I believe makes sense. Any other method would not be right in my opinion

MaxInDHouse:
You just love deceiving yourself.

There is no religion that is about war every one fighting and killing only does so because they want to get something by force.

So when you see people fighting never think it's about God because we can't see God it's what we see and want that people are fighting for!🥱

You just take hook, line and sinker whatever is dished out to you by your leaders.

Nations go to war over religion. Terrorists kill over religion. They don't see it as wrong because to them unbelief is what is wrong. Jihads, crusade were fought over doctrine and faith and such never happened on Earth when each culture maintained its own theology and nurture it within its own territory.

Once you like the JWs start saying we must believe something or else we will be deleted by God it will only be a matter of time before you resort to arms. Maybe this generation maybe next but conversion at gunpoint is the endgame of such a mindset. Do you think Paul the Apostle would have envisaged the crusades? I don't think so despite that he also started off as a killer. You too may not envisage such now but that is the end game of your mindset. If you are insane it is either you are tied up or you injure people

VOTE OF THANKS

There are people that aligned immediately with the US led four member consortium of nations sponsoring and protecting me. They saw reason with us and aligned with us immediately and they have been chipping in ever since.

Their goodwill is part of the building material not to talk of their other resources that they joined with the effort. I am sponsored by them as well just like I am sponsored by the owners of the initiative. I scaled through and succeeded because of them too. I thank all the UNGA member nations that aligned, I thank the organizations that aligned and I thank the individuals that aligned.

Many of them were there years before I understood properly what was going on and that was around 2012.

Anything I am today or that I will later become as a result of scaling through would have been made possible by them

May God bless everyone of them bountifully.

What is geopolitical zone? That is how millions are being shortchanged in the country.
Kano and Lagos are equal to five states each or more by Nigerian standards.

TOPIC- FACTORS THAT AFFECT FREE MARKET WAGES AND THE WAY FORWARD FOR WORKERS
NAME- LAWANSON, Akinwumi John
Date - October 5 2026.
ABSTRACT
There is a need for the proper discussion of wages especially minimum wage because it plays a big part in nation building, it also concerns a large number of people that are the engine or the workforce of the economy.
A discussion of all the dynamics of minimum wage fixing and free market wages in general is important and that is what this short work is posed to do
INTRODUCTION
The biggest enablers of this work is the four member consortium of nations led by the USA that made it possible. USA, Russia, China, India.
The owner of the initiative to put me under protection is the late President George Herbert Walker Bush of the USA represented in 2026 by his son and former US President, President George Williams Bush. President Bush the elder brought in the CIA and the CIA brought in the other members of the consortium without the protection of whom I would have been assassinated twenty years ago by Pastor Adeboye of the RCCG's hired assassin. The over thirty other attempts on my life that came later from different quarters also fell short.
Therefore all thanks to my sponsors and protectors. Billions of dollars in expenses have been invested in protecting me over twenty six years
LITERATURE REVIEW
The current position of the academia is that the size of wage including minimum wage in any nation is driven primarily by the productivity of the average worker. Nations with high minimum wage have such wages because the workers are more productive is the position.
METHODOLOGY
I know that there is an ongoing struggle over minimum wage in almost all countries and I therefore did not agree that the minimum wage and by extension the average wage in any country is driven solely by productivity.
I therefore started to brainstorm on the reason for the substantial disparity between wages in different countries and even cities within the same country
I ended up with eight factors that determine wage, two factors that does not determine the wage as much as they should and two changes that workers need.
RESULTS.
Eight factors that determine wage
1. The local cost of living
2.Government taxes and statutory deductions.
3 Experience of job applicant.
4.The expertise of job applicant
5.The last pay of job applicant
6. The negotiation power of job applicant.
7 The management philosophy of employer
8. The capitalization of the employer
Two factors that does not determine wage as much as they should
1. The non labour cost of production
2. The government approved minimum wage
What way forward for workers?
1. Retirement savings account.
2. Ask for government minimum wage that is one thousand percent of the cost of rent for a single person
after tax
DISCUSSION
Eight factors that determine wage
The local cost of living
This is the single most important determinant of wage in any country or city. It is not the productivity of the worker but the local cost of living.
The local cost of living is almost entirely determined by the cost of rent. If accommodation for a single person in a locality is five hundred dollars per month, then an independent person must be paid above that amount. The local cost of living, especially the cost of rent for a single person is more important in determining the minimum wage than how productive the worker is.
Employers know the cost of rent in their locality, so they generally offer a wage higher than that.
Government taxes and statutory deductions
The effect of this is easy to decipher. If the cost of living in an area is 500 dollars per month, then an employer who would have offered 1000 dollars per month would have to offer more than that if there are statutory deductions and taxes that must be paid. The employer will add the taxes and deductions to the originally intended wage. The effect of government taxes like personal income taxes and statutory deductions like health insurance, social security, pensions and etc is an increase in minimum wage and/or average wage
Experience of job applicant
Experience and age tend to make employers offer a job applicant more
Expertise of job applicant
If it is a job requiring expert know how that took time to acquire and there are not many experts in the market, the employer will offer a higher wage.
The last pay of job applicant.
Most employers know they should pay you higher than what you were paid on your last job. They would not even have been able to attract you if not for that
The negotiation power of job applicant
Generally in any market, you do not always get paid for your value, you get paid what you negotiate. This is why the importance of a negotiating team for any important venture can not be over emphasized. This is also true for job applicants. Many wages are negotiated solely between individual employee and the CEO.
The management philosophy of employer..
This is also a factor. Companies place their work force on different pedestals and it is to do with their management philosophy. There are companies that have the principle of always paying higher than minimum wage and also higher than average wage. It can be because they see their work force as their most important asset. Some others never pay above industry average. It is not necessarily to do with the profitability of the company. It is more to do with the management philosophy.
The capitalization of the employer
This is also an important factor because no matter how benevolent the management philosophy of an employer with only two million naira in capital, they will never be able to match the minimum or average wage of an employer that has mobilized one hundred million naira
Two factors that does not determine wage as much as they should
The non labor cost of production
Some people might think if there is a sharp drop in production costs then their employer will add to their wage. No, the minimum wage will always be determined by the local cost of living. Your employer can raise your wage in exchange for more responsibilities but never automatically because the cost of production has crashed. The next most likely thing to happen when the cost of production crashes is a reduction in selling price and not an increase in wages. This is because the business owner does not know yet what will happen next as every day is not Christmas and wages once increased can hardly be reversed again.
Government minimum wage.
Some people think the government minimum wage is a magical number but in reality, the average business, say a restaurant will offer more if the government minimum wage is too low. If private employers pay lower than the government in your country, it is because the government minimum wage is high enough by market standards. This is a normal occurrence in the USA. It is the market forces, mainly the cost of rent for a single person that determines the minimum wage and if that rent is five hundred dollars a month and the government minimum wage is three hundred dollars a month, then employers will offer at least seven hundred dollars a month which is more than double the minimum wage else the market will not respond to them.
Therefore the government approved minimum wage is not as big a factor as you may think it is.
Ways forward for workers
Retirement savings account
You have to grow wealth and that is the only way out of the rat race. Even if you work at minimum wage for thirty years and you save twenty percent of your income and it is increasing at ten percent per annum outside inflation then at the end of the thirty years when you are still under sixty years of age, the annual yield on your financial holding will be much more than the annual income of a minimum wage worker. It isn't easy as ten percent per annum is not easy but it is possible. It is only that kind of arrangement and not high wages that can secure the retirement and future of workers in general. Seek a retirement savings account law more than higher wages and also invest your money voluntarily
2. Labor unions should always ask for a minimum wage that is at least one thousand percent of the cost of rent for a single person after tax
This metric is important for labor unions to deal with government. It is always good to have a standard. Rent should not be more than ten percent of income after tax for a single person living alone.
CONCLUSION
I think this short work has done some justice to the dynamics of wage labor in the modern economy.
Wages in a locality are determined by the local cost of living and not the productivity of the labor force and how much you save and invest is by far more important for securing your retirement than how much you earn etc etc
REFERENCES
How wages are determined
https://fee.org/articles/how-wages-are-determined-the-effect-of-interventions/

TOPIC- NINE STEPS TO CREATING A FAIR FEDERAL UNION
BY LAWANSON, Akinwumi John
Date October 5, 2026
ABSTRACT
Any corporation board membership must be fairly shared between stake holders and a nation should be run like a corporation so that you have control over it to the extent of your contribution as a political constituency. Individuals should be discounted because individuals rise because of markets and markets are made up of consumers which are people.
The aim of the short paper is to highlight nine crucial steps that can lead to the creation of a viable federal union.
INTRODUCTION
I appreciate wholly the four member USA led consortium of nations that made it possible for me to be alive to write anything. It is because they have invested in me that I remain alive. The nations are USA, India, China and Russia. They fended off a deluge of assassination attempts on me over twenty years and that is why I am alive to write.
If you find anything I write useful, be grateful to them as it is because of their benevolence that everything is possible.
LITERATURE REVIEW
Whether at the United Nations level or at the level of individual political constituencies there is not yet any universally accepted way of weighting or grading political constituencies whether sovereign or not. Though generally there is the tendency to grade according to the population or GDP
METHODOLOGY
I observed that political constituencies are like living things and this means they change over time. They change in population, quality of leadership and also GDP.
I decided that this means that their weight or relevance is not static and that if they are in union with other constituencies then that relationship too should not be static.
I then started to brainstorm on how the status of any political constituency in relation with other political constituencies they are in relationship with can be updated.
I arrived at nine ways
RESULTS
Nine ways by which the status of a political constituency can be updated up from the creation of a federal union
1. Determine the number of federal seats to be in the national Assembly
2. Demarcation of the territory into federating units
3. Calculation of the total federal income from taxes in the last five years
4 Determination of what percentage was paid by each federating unit.
5. Allocation of federal representative seats to each constituency according to the tax paid.
6 Repeat 1 to 5 again after every five years.
7.Seats allocated to each federating unit should be shared according to the tax paid by the constituent communities in the federating unit as well
8. All citizens should be able to contest elections anywhere in the nation.
9. Top executive jobs from the President down should be shared in the same way the national seats were shared.
DISCUSSION
Determine the number of federal seats to be in the national Assembly.
The number should not be too small or too large. The people in the assembly should be paid by their platforms for those who need payment and the members should get all the in and out memorandums of the government. The President should attend their meetings and they should be able to sack the President without notice with a simple majority vote. Four hundred members may be adequate
Demarcation of territory into federating units
Federating units should be voluntary unions. Let people keep their culture, language and etc on their home land while they shouldn't be able to deny others things like access to the sea or right of passage. There should be no forced union or minimum population.
Calculation of total federal income from taxes in the last five years
This is easy to track since it is just an add up of all revenue generated and sent to the center from each federating unit in the proceeding five years
Determination of percentage of federal revenue paid by each federating unit.
This is just a calculation of what percentage of federal revenue came from each federating unit. It should align largely with the percentage of the total population of the country living inside the federating unit
Allocation of federal representative seats according to the tax paid
A federating unit that paid 0.1 percent of the total federal revenue will automatically be qualified for 0.1 percent of the 400 seats available if the national Assembly is a 400 member assembly which is 0.4 seats and this will mean it will have to align with a neighboring constituency or another constituency until there is a whole number and they will have one seat together. If it aligns with a constituency with 9.6 seats already, then they will together have ten seats after which they will then sit together to negotiate the sharing formula.
Everybody should have some even if it means increasing the number of seats to 401. The figures can be rounded up to the nearest whole number.
Repeat after five years
The exercise will be ongoing to match any shifting fortune of political constituencies
Allocated seats to federating units should be shared fairly too
The seats allocated to each federating unit should still be shared with the same format highlighted so that every group will be fairly treated
All citizens should be free to contest anywhere.
All citizens should have equal right throughout the federation to vote and be voted for
Executive jobs should be shared with the same format
Executive jobs in the nation should be shared using the same format of all inclusivity and contribution. If it is 800 top jobs then the 400 people with their platforms should have two slots each so that nobody will be left behind.
Each lawmaker should be under the control of the platform that sent him or her to the assembly on who to choose for the executive position and even on other matters
CONCLUSION
I believe that with such a fluid but also somewhat rigid arrangement, a federal state will be deemed fair by all the subscribers and what is important is for all participants or subscribers to feel carried along. Traditional land owners can also be carried along by being on government payroll and also by being able to rule on how the land should align and also by working as judges.
.
References
The origin and evolution of federalism.
https://polsci.institute/political-processes-institutions/origins-evolution-of-federalism/?fbclid=IwY2xjawUwdORleHRuA2FlbQIxMQBwZG9mAXNydGMGYXBwX2lkDDM1MDY4NTUzMTcyOAABHpycrDXIvVU2aKqmiqdYrczaTKbNELyt9gH6jjwwxsWi3D8-bef9uAt88D5h_aem_3-GL_etELHC1I7Wv6OamoA

vibesdot001:
Share reconstruction is a way of stealing shareholders shares and money at the same time. If this was on NYSE, this will be the best time to short the stock.

If the asset base has grown considerably and the EPS is high then a share reconstruction would be appropriate instead of one share on the NGX being sold at 100k

Ask yourself why active sims registration, NIN and etc should not be similar to voters registration by percentage?

Even sme registration, neco registration waec registration etc should ordinarily be similar to voter registration by percentage because they are all to do about human beings

But it is not similar which points to irregularities

The best way actually is a system where elections are not unified. Hold your elections independently and send the number of reps allocated to you according to the tax you paid to the center. Tax paid under a settings of uniform revenue drive is the correct indicator of the weight of a political constituency

BEFORE CHRISTIANITY, THERE WAS NO RELIGION AS EVERY GROUP HAD THEIR OWN SPIRITUALITY THE SAME WAY THEY HAD THEIR OWN LANGUAGE AND THEY DIDN'T INFRINGE ON ANY OTHER.

THE SPIRITUALITIES WERE THE SAME CONCEPT EXPRESSED IN DIFFERENT FORMS AND THERE WAS PEACE AND TRANQUILITY ALL OVER BEFORE THE INVENTION OF CHRISTIANITY AND THEN ISLAM WHICH STARTED OFF AS A CHRISTIAN SECT.

SINCE THE YORUBA CALL WATER ONE NAME AND THE HAUSA CALL THE SAME WATER ANOTHER NAME, THEY WOULD NOT EXPECT THE NAME OF ANY OTHER THING INCLUDING THE NAME OF GOD TO BE THE SAME IN THE TWO LANGUAGES BUT THEY KNEW THEY WERE REFERRING TO THE SAME ENTITY WHEN THE YORUBA SAY OLODUMARE AND THE HAUSA SAY UBANGIJI. THE ENTITY IS THE SUPREME GOD THAT RELIGIONISTS NOW SAY WE MUST CALL THE SAME NAME GLOBALLY

SO THERE IS NO TRUE RELIGION. ALL RELIGIONS ARE FALSE AND THE RIGHT THING FOR ANY HUMAN GROUP TO DO IS TO UNEARTH THEIR TRADITIONAL SPIRITUALITY AND BE WHATEVER THEY WANT TO BE INSIDE IT. CREATE AN ARTS DEGREE AROUND IT. BE A MONOTHEIST OR NON IDOLATOR INSIDE IT IF THAT APPEALS TO YOU AND LET PEACE REIGN.

RELIGION ISNT MORE THAN AND WILL NEVER BE MORE THAN A NEW EXCUSE TO FIGHT WARS. BEFORE RELIGIONS PEOPLE FOUGHT WARS ONLY OVER TERRITORY

MaxInDHouse:
Who told you that there should be right and wrong?
Ọmọ if you don't believe in God then there is no reason claiming something is right or wrong nah!🤔

If you believe a monster who is deleting law abiding people for unbelief is God then who does not believe in God is more reasonable than you are

More info

President Buhari money printing

AMINDA:
Ways and means which Buhari borrowed from the Central Bank mostly during Covid 19 was less than 20 trillion. All governments of the world printed currencies or got bailouts from their central banks during Covid. Even the US. Tinubu has since outborrowed all the debts Buhari incurred all through his 8 years in less than 3 years. Yet, Buhari paid subsidies and still had more visible infrastructure to show. Tinubu is about to borrow another 1.5 billion dollars to be spent on "empowerment for rural women" or other clichés that don't mean jack. Can you pinpoint us to any infrastructure that Tinubu has spent the borrowed monies on? Chinese loans by Buhari delivered the Lagos-Ibadan Expressway, Lagos-Ibadan Railway, Warri-Itakpe Railway, Badagry Road, Makurdi-Keffi-Akwanga Road, Bonny-Bodo Road, second Niger Bridge, 700mw Zungeru Hydropower plant, etc. Your turn. List out Tinubu's projects carried out with the record-breaking loans.

The post isn't about who is the best manager but on who devalued the currency.

Each administration is responsible for devaluing the currency to the extent that it borrowed from the CBN. So if the current administration is yet to borrow from the CBN then it has not yet devalued the currency. The devaluation on ground now is Buhari devaluation which the current administration is not responsible for.

All countries borrow from their Central bank and they maintain their currency on a free float after doing that. They don't have dual exchange rates

May their souls rest in peace

What is currency floatation?

The term has meaning only in Nigeria because I don't know of any other country that uses the term. At least no well run country that I have ever heard of is using the term. All central banks worldwide automatically float the local currency.

What does the term mean?

The term is useful only in a country where the government has a large or major part of its revenue in a foreign currency. If foreign currency means nothing to your revenue asa government, then you have no need for the term in the vocabulary of your government.

What happens when the currency is floated?

1. The government will always sell its dollars or other forex to the highest bidder.

2. The government will allow domiciliary accounts to be run freely and you can sell the dollars or other forex in your domiciliary account to the highest bidder just like the government.

3 Residents will not need to beg the CBN for dollars before they are able to import or pay foreigners and foreign companies. They just buy dollars at the going rate.

4. The flexibility will make business a million times easier as there will be no bottle necks on the path of moving money in and out of the country.

5. The value of the local currency will be determined by demand and supply with the supply tinkerable by the CBN via quantitative easing or inflation.

6. The government will concentrate on revenue based in the local currency and seek to increase it.

7 Other economic players will automatically earn more forex from offshore customers when they are able to freely operate domiciliary accounts.

When the currency is not floated (dual exchange rate)

1. The government will announce an exchange rate and stick with it no matter what the market says and this will lead to the dual exchange rate peculiar to Nigeria

2. The government will not allow the free operation of domiciliary accounts by residents. Most times you can receive forex from abroad but you can not withdraw cash received from abroad but only the ones you deposited locally and to get your own cash sent from abroad, you may need to travel out of the country or use many other routes that will add to your operations expenses as a business.

3. The government sometimes romances the idea of automatically changing forex inflow into residents' domiciliary accounts to the local currency at the official rate but none has ever had the balls to try it.

4. The government will be more interested in forex revenue than revenue in the local currency.

There is no other country on Earth apart from Nigeria where people are saying it is wrong to float the local currency. Other countries automatically float their currencies

In Japan, the top forex earners are private companies like Toyota and etc. They also earn some forex from farm produce. and the government has its revenue in the local currency.

In say Ghana, their forex earners are the cocoa farmers etc etc.

In Nigeria, government oil earns substantial forex and that forex until a few years back formed the bulk of government revenue though it was obviously never the top forex earner in the country as believed. We have remittances, we have the NGX, we have timber which I believe is at least as huge as cocoa and we have Nollywood, other farm produce, manufactured goods and etc. Oil and gas should not be up to twenty percent of forex earned by Nigeria, maybe not more than ten percent but it used to form the bulk of government revenue a while ago. That was why building a fence around the dollar became the job of the federal government and they had to popularize the word 'Naira floatation' which does not exist in the vocabulary of any other country that I know of because it is the natural thing that happens on automatic.

AMINDA:
All over the world, Central Banks exists to control the value of their currencies through intervention and they subsidise their currencies if need be. The whole world is subsidising the US dollar. Tinubu floated our currency only to end up paying more in 3 years than Buhari paid on subsidies and called it energy security. He has not implemented the 2026 budget and we are already in the 4th quarter. Tinubu has also outborrowed all Buhari’s 8 years debt with nothing to sure for it. Only hardship. Buhari already made the argument on why it would have been counterproductive to float the naira. He was right.

How many countries have a dual exchange rate among your examples?
Then do you think President Buhari did not know that the massive printing of the naira that the CBN was doing under his direction was the reason the naira was trading at over 1000 naira to the dollar at the black market while the CBN was selling it at 450 to the dollar? Did he know or did he not know?

Dogalmighty17:
Tinubu was the one who floated the naira. That wasn't Buhari.

What you are fighting for is that some government cronies should be buying dollars at 500 while the rate at the parallel or black or open market is 2500. That was the arrangement, the subsidy that facilitated the ownership of almost 1000 duplexes for Emefiele the former CBN governor.

Can you list here some of the advantages of the policy? I mean the policy of dual exchange rate

nedu666:
Based on op analogy, how much money did babangida print before he devalued the naira under sap.

If you do some research you would be able to answer the question yourself because there should be data available to answer the question

Elusive001:
Abeg go and rest. Tinubu did nothing bad according to una. He is ruling Nigeria excellently well according to una.
Na buhari una go blame now. No be una support buhari? Even when we raised alarm, wetin una do?

I am justpointing out an academic fact as would do your Professor in school. I am not campaigning for President Tinubu or any other politician

[quote author=AMINDA post=140835996]No be una again? History rewriters. This was Buhari’s position on devaluation of the naira. We know who the Worldbank and IMF puppet is.

This is why Buhari refused to float the Naira even with IMF pressure. Tinubu caved for power. Listen to Buhari here in his last Aljazeera interview. He explained why he is going against the IMF and their call for him to float the Naira. He even got visibly angry in this video… pic.twitter.com/ppASkEA1l4

— Uba Danzainab (@danzainabsports) February 24, 2024

is a saying in Yoruba 'Eniyan meji kii padanu iro. .or something like that. Two people can not be victims of a lie. If the person being lied to does not know it is a lie being told, then the liar will know he is lying. If the liar does not know he is lying like in the case of someone spreading religion then the reasonable people listening to the tales will know it is a lie.

Did President Buhari know that the massive printing of the naira he was doing was the cause of the dual exchange rate? Yea of course he knew. Even a stark illiterate head of state would know.

PRESIDENT BUHARI'S ADMINISTRATION WAS THE ONE THAT DEVALUED THE NAIRA

It does not matter that you have believed a fallacy for decades, if after my several explanations here about how a currency loses its value and after representatives of the current administration in Nigeria came out to say they have not printed a single naira note since their inception as at a few months back, you are still saying the current administration devalued the naira then you are not different from a doctor that misdiagnosed a patient. A doctor giving malaria drugs to a typhoid patient. Your patient is going to die

For the umpteenth time, the only way for a central bank to devalue a currency is to massively print it. There is no other way for a central bank to devalue a currency. You may not have known for decades but through me you now know.

It was President Buhari that devalued the naira and not the current administration. The dollar would have been selling for over 2000 naira in the black market in early 2023 before he left if not that he flooded the market with dollars. He borrowed money (dollars) to repair the refineries but sold it to government friends at a reduced rate forcing down the black market rate of exchange.

Therefore understand the things you are talking about first before you come to the public to articulate yourself and if you are following me as in reading my posts and you are still on that same position then you don't know what you are doing.

Lagos and Osun

If Enugu can have an igr of 400 billion naira against the 1.77 trillion naira by Lagos in 2025, how much will Kano have had if they had tried? How much produce tax revenue can Kano local governments have if they tried? How much can Kano make from a produce board?
A state like Osun have more NIN, more active sim cards, more registered SMEs and etc than Enugu and it is safe to say it has a larger economy and GDP and therefore a higher revenue potential than Enugu.
In Lagos, one real estate can make you a dollar millionaire. Such real estates are scarce in Osun state but there are dollar millionaires who are manufacturers, farmers, traders, hoteliers and etc. If all states are efficient at tax collection to the same degree then Lagos is not more than a little over three times of Osun state. Osun state is richer and life is easier in Osun on a per capita basis than in Lagos and there are several industries in Osun that do not exist in Lagos like cocoa plantation, coffee plantation, gold mining and refining and etc. So the only thing Lagos has disproportionately more than Osun are single location real estate HNIs.

itzadorable333:
Listen. Joseph was in prison where he happened to meet two high ranking officers of Pharaoh's court. He solved their problem and begged them to remember him and repay him for the work he did for them, but when the tide turned the favoured one forgot about Joseph. Until years later when a problem that no one in the whole land of Egypt could solve - a problem that brought Egypt to a standstill - came up, that was when the ex - prison mate of Joseph who forgot him then remembered him. And that was how THE LORD settled Joseph. Now, promotion cometh neither from the east, nor from the west, nor from the south. But THE LORD is the judge: he putteth down one, and setteth up another.
This is what was given to me to give to you, may THE SPIRIT give you understanding. For there is much to understand therein.

Iwori Oturupon

Nothing is ever the fault of a self conceited person
A man without empathy thinks every thing is a transaction
He commits a crime and is sent to prison
Someone serves humanity and is promoted but to him he is being downed for the person being promoted!

MaxInDHouse:
Do you eat meat?
What do you use to kill the animals you eat?
Ọmọ what we are saying is humans should be able to settle disparities peacefully among ourselves if we have the psychological weapon: mentality of right and wrong which animals don't have!🙂

You fail to understand that some human beings are more dangerous than wild animals and that there will never come a time when all human beings can be trusted to do the right thing
Then the arms you have to bear when entering the forest in Sweden is not for hunting but for protection. The weaponry of the vast majority of nations is not to initiate war in this modern age. It is to protect themselves. If there is going to be peace on Earth permanently, nations being well armed will be part of the causal factors

MaxInDHouse:
We don't need any of them our God said we will see reasons why He must destroy all those who are not members of our faith because if everyone is our member this earth will become a paradise!

So you have judged yourself as you said it's not members of our faith that's causing the problems leading you people to believe in the use of weapons! Revelation 6:3-4🙂

What you are saying that you heartily believe is that the government of Sweden is wrong to mandate people entering forests to be armed because they can be attacked by bears. You stand by this belief because there is no circumstances to you when bearing arms would be the commonsensical thing to do.
Judge it by yourself or do you agree that the government of Sweden is right?