₦airaland Forum

ElSudani:
This is a better take than the usual "audio reduction". We are getting somewhere. It will get to a point where the progress being made can no longer be denied.

Soon hopefully

Things I love to see! God Bless Nigeria

FG should make sure this is last strike in the history of ASUU

It’s not entirely right to say they’re not benefiting, but generally, Nigerians tend to share bad news more than good news. Food prices have decreased across the board. Considering that the majority of people spend a large portion of their income on food, it’s hard to claim they are not benefiting.
Beyond food, prices of essential items have either dropped or remained stable. You don’t have to rely on my word—just visit any supermarket and check the prices yourself.
However, there’s also the important issue of avoiding an excessive crash in food prices, as this could disincentivize food producers, ultimately harming the supply chain and food security.
One issue I’ve been reflecting on is that wages in Nigeria are generally very low. We need to find a way to increase wages without triggering inflation. While this is challenging, it’s not impossible. No one should be earning less than $200 per month.
This is especially relevant given that the new minimum wage in Nigeria is about ₦70,000 per month (roughly $50) which many still consider insufficient to meet basic living costs.

destinychildolu:
It seems he didn't break it down for you enough in a lay man's language. During Buhari, a state that gets say 10billion naira can construct 50km of road. During Tinubu, a state that gets say 25billion will only be able to construct 40km of road. Does that makes sense to you now?

Yes, the naira’s weaker — we all know that. But here’s what you’re skipping:

Most state spending is in naira — roads, labour, local contracts. So converting allocations to dollars just to push “Tinubu ruined everything” is lazy economics.

You also ignore Purchasing Power Parity (PPP). ₦10,000 in Nigeria does far more than $10 in the U.S. Your FX math ignores real local value.

Dollar expenses are now cheaper in naira terms than during the artificially pegged rates of the past. The market is adjusting — painfully, yes — but realistically. That’s how real exchange systems work.

And let’s not forget: Oil revenues are dollar-based, so a weaker naira = more naira in the federation account. That’s partly why allocations have gone up.

So no, states aren’t being handed “tissue paper.” That’s just FX theatrics with zero economic depth.

And please — stop guessing. Use real FAAC figures, not made-up examples, if you're serious about making a point.

SeraphicWind:
What is actually wrong with them? Are they intentionally stupeed or something?

Why not use actual figures instead of assumptions? It’ll paint a better picture. By the way, you should consider purchasing power parity in your analysis. What N10,000 will buy in Nigeria, $10 won’t buy even one-fifth of in the USA.

Imagine if unions that are arguably more critical to the economy, like the NURTW, were to go on strike or make the kind of noise ASUU is making—what would happen to the country? If ASUU members are not comfortable with their current conditions, they are free to pursue other, possibly better, job opportunities. Tertiary education is not the sole domain of government—there are private institutions that also hire academic staff. Much of this unrest is tied to government ownership. Once the government reduces or sells off its stake in public universities, these constant disruptions are likely to stop—just as we've seen in with Dangote’s refinery.

Abundance mentality —-protect it with everything that’s the different between wealthy and rich 😊

Kalulu44:
Wetin be Essence, carry that song go pack one place. I can't replace that song with any of Kizz Daniel songs on my phone

You want me to cook your kiss condom that doesn’t last more than a minute in spotlight—-Abeg

richiemcgold:
30GB or what do you say?

My music taste is way above the two of them. I said I don't listen to all these my baby this, my baby that.. I listen to quality songs with powerful lyrics. Both Davido and wizkid don't do such songs. They mostly sing about women. Burna is the only exceptional one.

Burna or brymo?

kunle4toyeyaho:
It is rude of Makinde to talk down on Umahi. There are better ways of playing opposition rather than mocking an accomplished engineer. Moreover,asking for cost per kilometre is a lay man's question, there were expecting the minister to give them a figure,so that they could multiply it by 700 and start spewing their gibberish as usual.

He does have a point. At the very least, the minister should have disclosed the cost per kilometer for the first section instead of avoiding the question. While there is some lack of transparency regarding the cost, that shouldn’t diminish the significance of the road—especially since it’s concrete, which is more expensive. My concern is that perhaps they have signed an open-ended contract that could make Hitech extremely wealthy, as they could declare any cost upon completion and collect tolls indefinitely. Either way, it’s still beneficial for people, but greater accountability would speed up progress, ensure sustainability, and make the success easier to replicate.

richiemcgold:
I repeat again, wizkid has not dropped any meaningful song in the last 5 years. The Essence you mentioned is already 5 years old (October 2020). That was the last hit song from wizkid. Since then, he has been dishing out nonsense. I don't listen to craps.

So you’re basically affirming my position—why are thinking like 30BG people like this 😂

richiemcgold:
You must be a baby in music for saying this. Can you just tell us one chart topping song wizkid has dropped in the last 5 years.

Which Nigerian artist has actually dropped a bigger song than Essence in the past five years? I’ll wait.

SMARTMOTORS:
MY PROBLEM IS THAT 10YEARS AGO I BOUGHT A PAINT OF GARRI FOR #200 AND 10LITRES OF PETROL FOR #950

Is your income still the same as it was when garri was ₦200?

richiemcgold:
The op is too exaggerated with wizkid. The best songs of wizkid are his old songs. Man has not been singing anything meaningful in the last 5 years or thereabouts

You’ve got to be kidding—no one’s had a better catalog in the last five years.

hafeeanubasy:
It means you started following both in 2022!

That's likely one of those 30BG people

Goodlady:
Both sing afrobeat. In fact, wizkid do more of afrobeat cos of presence of more saxophone and guitar on his melody.
Songs like Ojuelegba, Omo jayejaye are pure afrobeats.
The only part agreed with you is that Wizzy drop songs that last longer. While Davido focus on rave of the moment.

Wizzy baby Loke Loke Oluwaloseyi I think Jaiye jaiye is one of the greatest proper afrobeat song ever in history

AMINDA:
Tell that to Ambode in Lagos. As expected, it's always bad until Tinubu does it, then it becomes excusable. What happens to doing a transparent party primary? Why disqualify an aspirant from a primary if he stands half a chance. Are party primaries for incumbents against APC's constitution?

Fair enough, but an outlier doesn’t represent the norm. Since Tinubu is your focus, it might be better to use a presidential example instead.

Every LGA in the country needs to get on board with this—ASAP.

AMINDA:
If Tinubu has his way, he will prefer to run unopposed. A so-called democrat and master strategist would rather encourage shady underdealings than a free and fair party primaries where all eligible candidates contest. Peter Mbah is afraid of Barth Nnaji contesting against him just as Sheriff was afraid of Omo-Agege contesting against him. They only decamped with the promise of running unopposed. Tinubu is busy doing deals that only benefits him while sabotaging loyal party members across the states.

You mean a sitting president or governor should be denied the party ticket? Are you really thinking this through? Even in the U.S., it’s almost automatic—the whole process is usually just ceremonial.

flokii:
If we are to go by the books, is Dangote meant to be selling his products in the Nigerian markets?. The answer is capital NO

Free zones were established for export purpose only.. note the emphasis on "only". Dangote is enjoying Free zone benefits, enjoying the Nigerian market which by law he shouldn't have access to, yet still enslaving Nigerian workers and treating them like trash.

Very lawless country.. people are fighting to protect worker's rights through unionism that's completely legal, they found a way to turn it political. Tomorrow they'll go abroad, open their wide mouths to call Nigerian youths lazy.

You're right, but I believe I read somewhere that there's a threshold companies must not exceed if they intend to access the domestic market. That said, the reality is that many companies there routinely violate this rule—so it's not just about Dangote.

In Dangote’s case, the issue stands out because he’s dealing in essential products that the country heavily relies on. I suspect this could backfire in the future. Once local refineries become fully operational, they’ll likely push the government to enforce the law that limits how much he can bring in from the Free Trade Zone (FTZ).

For now, though, it’s a technical illegality that benefits everyone—the masses, the elites, and the government. 😄

P.S. I know some sections of the tax laws touch on this, but I’m fairly certain enforcement will be delayed.

WizardOfNG:
It's been really refreshing reading from you here because it confirms the forum still has objective, forward thinking and balanced folks here.

The bolded is solid gold as they are issues I make the conscious effort to be aware of for the purposes of self-improvement and greater efficacy at delivering solutions.

One other thing as well with Nigerians is that most lack humility to concede others know more than them to then submit to learning from that person for the purpose of their own self-improvement and progress.

I can learn from a 10 year old and even thank him/her for the knowledge he/she imparted because life is result business. Whatever/whoever helps you achieve results you should appreciate.

As you said, large scale Property development is very complex and involves a lot of specialist knowledge.

It is therefore disturbing to see Nigerians with not even rudimentary knowledge in the sector thrash the decisions and choices of those with perhaps decades of experience in the sector and have become multi millionaires in dollars developing property.

That is how we are as a People and it is a problem..

Thanks for the compliment and kind words. The only way to grow is to keep learning every day — and that takes humility. I’m always open to learning from everybody & anyone, even from an enemy. After all, there's plenty one can learn from the devil too. 😄

jaxxy:
I know how many multimillion dollars properties are unsold in ikoyi for 2 years and counting.

However this might sell but it was be a hard sell and bought majorly by looters and money launders.

Stop assuming that only dirty money is involved in such purchases — that's a reductive way of thinking. These sellers are often in no hurry to offload the property because, when the right buyer eventually comes along, the price can reflect the time it remained unoccupied.

In many cases, the primary goal isn't immediate profit but capital preservation. High-end real estate is often used as a store of value, and over time, appreciation tends to deliver real returns that outpace inflation — especially when compared to more liquid assets.

WizardOfNG:
See below a perfect example of what we are both saying about mentality and how some have finished themselves with hate and negativity to the extent their thinking is failed and doomed.

I never addressed the character below yet view his personalised, frustrated and insulting attack, I chose to ignore, simply because I defended Eko Atlantic for being an iconic project in my own nation of origin.

This is same Eko Atlantic USA has shown global confidence in and preference for by purchasing a plot to building their biggest consulate in the whole world. Many African and global Premier companies have secured plots at Eko Atlantic to gain presence in one of Africa's most prestigious and iconic address.

Yet, according to this chap, and because I do not have "a plot or half plot inside eko atlantic" or "a bucket of sand there", I cannot have the natural patritionism, that does not take owning anything at Eko Atlantic, to defend and be proud of a project that puts Nigeria on the spectacular level of around only a few nations in Africa that can boast of similar.

Look at the Anwer AI gave when I asked it of projects on similar level and scale to Eko Atlantic in Africa. Five. With one being the masterplanned Cetenary City in Abuja. You can see the mentality that results in Nigerians being toxic , envious and malevolent enemies of each other's progress.

Let Eko Atlantic be in Ghana. The whole world will hear it non-stop , about "the Dubai of Africa in Ghana", from Ghanaians lol.

What I find most amusing is how some people think mega projects are as simple as buying a car or building a small house. They have no idea about the layers of complexity involved—especially in financing, funding, and consultancy, which alone can cost millions of dollars before construction even begins. We need to broaden our perspective as a society: read more, travel more, and truly understand how the world operates—it's all about the numbers.

jaxxy:
u prove that what? That ur definition of luxury cars is $10k cars? ,And I asked u are we talking about 3bed duplex in ikorodu as luxury?

I have already told u the difference between luxury car market and luxury apartments Market in Nigeria.

You have alot to learn--- do you know how many of such projects are on-going in Ikoyi-VI axis you must think the builders are random property developers.

WizardOfNG:
Like a drowning man, you're just clutching at straws here instead of admitting you are wrong. Eko Atlantic is a bold and audacious project , like the Palms Dubai, that is a mini-city within a city.

It is commonsensical it will be affected by overarching global consideration, such as COVID-19 that made many grand scale luxury projects lose traction, that will take time to overcome.

Still yet the future of Eko Atlantic, when optimal economic conditions will fully allow, will be secure with how so many Prestigious African and global business/conglomerates/institutions etal have secured plots there to have a presence in what is going to be one of Africa's most prestigious, most iconic and most sought-after residential and business address.

To put things in perspective, Eko Atlantic , at 10 square kilometres, is slightly bigger than Ikoyi at around 9 square kilometres.


How then can you compare efforts to build something the size of Ikoyi from scratch,i.e Eko Atlantic, to a single skyscraper in same Ikoyi when Eko Atlantic can literally accommodate hundreds of said skyscraper?

This skyscraper, marketed competitively globally, can have 15 to even 25% of units sold offline or by 6 months after official sales of completed units begin.

That amount of sales may even have covered most of the building costs outlay meaning majority of the remaining units are profit earnings for the developer.

If you view issues with a closed-minded and prejudiced/biased outlook then you'd miss a lot.

You are right its a mentality issue!

jaxxy:
Ur definitions of luxury is now based on the local economy of the country but we are talking about would class standard luxury Meaning super high end!

we are not talking about a 3 bedroom semi detached duplex or bungalow in ikorodu or ipaja.

The only people that will afford and buy such looters and money launders because they are not after investing money but hiding and diverting money.

In your first reply, you said no one can afford it, but I have managed to use your industry and available data to prove to you that, despite the poverty, there is still a market for luxury properties. Please stay on topic — I would suggest you spend more time in and around Ikoyi to understand what's going on in the high-end luxury property market. Lastly, I encourage you to move away from the assumption that wealth in this space is primarily "dirty money." For dirty money to exist, it must originate from clean money — and the presence of one doesn’t negate the abundance of the other.

CLRF:
Dangote style

sharp!

jaxxy:
Luxury car sales are in the minority and still have a fairly good local base clientele, Also these Luxury cars are not locally made but exact same type from Luxury car makers be it porsche or Rolls Royce etc .

Luxury apartments here are locally built and not same standard like in Dubai or Newyork and are all over the place with very few clients to purchase them cos they are over priced. Also in Real Estate LOCATION, Environment matter even if u are able to build the Apartment to world class standard.

We currently don't have any real 5star hotel in Nigeria. There is a reason for this.

In an economy where the per capita income is just $1,000, any car priced above $10,000 qualifies as a luxury — it doesn't even have to be high-end. The real question is: how many cars in Lagos cost more than $10,000, compared to how many properties are worth over $1 million? Interestingly, property contributes more to the local economy than cars, as it’s developed and built locally. If there's a market for expensive cars, there will certainly be a market for high-value properties. Ultimately, it's private capital — owners are free to invest their money as they choose, whether for profit or for other personal or strategic reasons.

Flo36:
It's had always been APC and it supporters ritual (self appraisal).

Nobody,I mean nobody knows you

Personally, I believe that if OUK leads a delegation to Alausa, the traders at Trade Fair would have a much better chance of preventing their properties from being demolished. That’s a fact — unlike the pointless media campaigns by political novices on TV, which only serve to further damage an already tense relationship

jaxxy:
Its sad some people still think building average luxury apartments that nobody within the country can afford to live in and neither has the power or luxury level to pull foreign investment like dubai is the way to go.

Dubai model is more organised and robust than building luxury apartments all over the place.

Newyork real estate is promoted and boosted by the Newyork business climate, cosmopolitan setup and great economy.

Here we are just wasting money or probably laundering money who knows. Eko Atlantic is there gradually turning to a ghost town filled with luxury apartments but no attraction or business..

How can an educated person say this? It's like saying, 'Why should anyone sell luxury cars in Nigeria, since the vast majority earn less than $1,000 per annum?' Does that make sense to you?