₦airaland Forum

Antiparticle:
What you just explained is, in loose terms, deism. I have no problem with deists & deism, this position is defensible.

The problem is that theists make giant but illogical and indefensible leaps away from deism. For example, Christians (of which I assume you are one) make the leap that their god didn't just create the universe but he impregnated a virgin to give birth to himself so that he could die and resurrect himself and then levitate into space solely for the purpose of saving just one specie of his creation from an eternal fire he prepared for them.

What??!?!!! This just makes no sense.

To add insult to injury, Christians claim that this same supposed god favored just one ethnic group of people and for their sakes murdered millions of their neighbors (also his creation) and additionally commanded atrocities such as cutting off of people's hands for petty crimes and non-crimes. Huh??!?!!!

I could go on and on about more absurd Christian claims, but I won't go further. I can respect deism, but theism is neither logically defensible nor sound.

Christian theology is like every other religious theology--Utterly Insane.

Sent you a mail and a BBM request. Please respond.

-Lord

fiizznation:
All these kids above me though. This forum have become something else. You hardly read any meaningful comment except insults upon insults.

Anyway Sahara reporters got this one right. Buhari's economic policies from the onset were "ignorantly made" to put the nation into a dire situation. You don't just come onboard and try to change everything overnight. You take things one step at a time. Buhari and his economy team{if there is even anything like that} seriously need to put things in order. They just have 31months left to vacate that office, his economic team should think outside the box for once.

I saw that finance minister saying rubbish yesterday, and I'd wonder if that woman is even capable of handling a complex economy like ours. God help them all

"Izzalie"

Who hacked your account?

Buhari and his economic team can't do anything worthwhile. Why do you think they're always talking about oil price?

Because, the only thing that can save their a$$ is increase in oil price that provides plenty of surplus to inject into the economy.

Until that happens, na "siddon look."

Adeosun is not up to the task. What's worse however is that Buhari wouldn't listen to anyone until "sh*t hits the fan."

NOI would still under perform if she was under Buhari. You guys don't get it.

Insider details state that Adeosun objected to some things in the Nigeria-Qatar deal. Guess what, Buhari went ahead to sign it defiantly without acknowledging her objections.

Soludo and Sanusi, Nigeria's best performing CBN governors were screaming about letting the naira float? Guess what, Buhari was saying he doesn't get devaluation.

This is the reality. Politics would not allow some of these ministers resign, if not there are many of them who would want to take a bow.

Nigeria is f'ked in ways you can't understand.

-Lord

carmag:
Oga prof.. must you quote me to make your
points, to you what is the definition of economy
where you import virtually everything

biggest economy that have lenders it's teaming
youths joblessness ..vibrant economy is where
your GDP is greater than imported goods

biggest economy with no impact on the
average man makes no sense

closed down factories are being replaced
with religious houses as a result of corruption
and wrong policies from the unpatriotic
politicians

Let something happen to the only oil economy
and Nigeria will be brought to its knees

India is the 5th largest economy in the world? Are there not more poor people in India than in Thailand or UK that have a smaller-economy?

Or do you think becoming the largest economy in Africa automatically means we would have enough money to start giving the poor average people free hand-outs?

There is no poverty in Qatar. No Qatari citizen is poor. They are only 800,000 citizens and expatriates are 1m+. With all the money they get from mostly oil, there are not many mouths to feed. People go to university and have jobs waiting for them.

Go to China, the largest economy in Asia and the second largest economy in the world. The suicide rate is through the roof, despite all their economic prowess. But we have two times more rich Chinese than we had just 20 years ago.

People were making lots of money when the economy was kicking. Nigeria's trade balance per month stands at $50b. If you weren't tapping into it, others were. If you are waiting for it to trickle down to you by the government, the only persons I pity are the children you are going to have.

Your whining would not stop Africa from having 30,000 new dollar millionaires by 2030 with Nigeria leading the pack. The economy would soon be on track again, and we will reclaim our spot, if you like don't tap into it again. Kick and whine!

The government has been failing us. But we have been improving. Even if you are in the U.S. you would still give excuses. Get up your lazy ass.

-Lord

vicdall:
She thinks she's wise? For ordinary 3,900? You sef you stingy gan although I think she should have asked directly

Stingy?! Did you read where he said he hasn't been paid since January. We are in August. 9 good months.

Do you even know how much he is paid?

See, where your riches end, nai another person poverty start. If Bill Gate wakes up one morning and find that his net worth is like Dangote's current net worth, he would commit suicide. If Dangote wakes up one morning and find that his net worth is like Seun's current net worth, he would commit suicide.

One man's salary is another person's tithe.

-Lord

989900:
It's not actually a bad idea; not exactly an elixir to a falling economy/currency, but should help with hyper-inflation in all facets.

And that part that ensures that all them looters with stashes of hidden billions in farms, tanks, and e.t.c. scampering to dump their old currencies, just excites me -- both houses will never support this move, if the CBN needs to get a pass from them to do this!

The demand for Forex will sky-rocket in those times!

My concern is the cost. Nigeria is infamous for making monumental changes at huge costs to the treasury.

Maybe when Nigeria is no longer a mono-economy it would be sustainable. Until then, doing this would simply be for the kicks.

-Lord

Ibrahim1975:
. Some pple are just an accidental human beings. Which of the completed universitie7 have u visited? Name just one in the north u mentioned and tell us the level of completion during GEJ? All the new universities are still operating at temporary sites to the best of knowledge and constructions still going on at all sites. Of what value is uncompleted projects to the nation and humanity?

Please don't put your ignorance on full display. Many supposed completed universities in Nigeria are adding new structures and making modalities to offer new course.

As long as there is a VC, senate, staff, and students, you cannot call such university uncompleted, whether the university has a permanent site in the offing or not.

Lokoja and Ebonyi have already started. Those are confirmed. Research the others and you'd find they've started as well.

I'm doing replying you. The SS has learned their lesson. The next time a SS-ner becomes a President, maybe in 50 to 100 years, this Buhari's nothernocracy would be child's play compared to the obvious lop-sided appointments and federal infrastructural investment that would happen in the south. Nothing done for the North is ever enough.

-Lord

carmag:
Nigeria was Africa's biggest economy on paper ....Nooonseeense propaganda

Na the same paper them don use pass us.

Na that same paper investors dey look before them go find place to put their money.

Illiteracy is a disease.

-Lord

Ibrahim1975:
. Flatron samsung heads full with insults and hates. Born with hates,live with hates and die with hates. Whate a waste! Live spent in vanity. Vanity upon vanity.

I answered your question and gave you a fair advice, and all you could see was bigotry. You see why I said you need help?

Most of those universities were completed in the north. Where you are from. So, I see no reason why you should not know about them.

If you don't know about the one happening in your backyard, how would you know of the train connecting Port Harcourt to Abuja?

Some people should not be allowed to vote. You are a good example of such people.

-Lord

[quote author=Ibrahim1975 post=48370256][/quote]https://www.nairaland.com/2091081/new-federal-universities-built-gej

For you to ask this question in 2016, One full year after elections shows you shouldn't have been given a PVC to vote.

You need psychiatric help! I'm very serious!

-Lord

innolala:
So after giving ur so call GEJ chance wat did he do? He threw shit on our faces wit allowing corruption to sink into dis country. During he tym we had d highest corrupted politicians stealing like never b4. Nd hw u stand boldly nd say we should give him a chance. Hmmmm I fear u oh. As for me NOBODY frm dem all. Reasons dey all suck nd dey r hypocrite.

So you honestly believed that GEJ's government was more corrupt than Military governments and OBJ's tenure?

Is it because you have Internet or because he signed the FOI bill? Or are you just playing to the gallery.

I don't understand you people at all.

Corruption is part and parcel of Nigeria. Even Buhari, the arguably most upright politician in Nigeria is corrupt. He people he crowded himself with are corrupt. The loot we are recovering are being relooted.

We need to change the system of governance in Nigeria, if not, corruption is going no where. Until then, we need to look intently at what candidates can do for the economy and which of them would liberalize the polity. Today, the Nigerian populace hold more power than under previous governments because the polity was liberalized hugely by GEJ using the FOI bill and not cracking down on opposition.

Nigerians can pressure and a kidnapped girl will be released, a blogger detained unlawfully will be released et cetera. These are the things that can change Nigeria, not a tyrant. 80+% of Africa is ruled by tyrants. Which of those countries compares to Nigeria? Buhari just attended the inauguration of the Chad's president for the 6th time. Is Chad doing way better now than it was in the 1990s when their president first entered, to justify the tyranny.

People just yap anyhow. Buhari has instructed the papers to stop reporting of BH bombings. People are dieing and no one knows, so in our mind all is well. Maybe in 2018 now, the newly inaugurated War against Indiscipline brigade would start cracking down on people who want to tell Buhari not to contest again. May be that is when it would be better. The arrest of Sidiq is just the beginning. The social media bill has passed second reading. When it is enforced. You'd understand why we do not need tyranny.

-Lord

SLIDEwaxie:
@ Ibrahim1975

without hating, bro, OBJ was the best predent we ever had. If only GEJ had built on his foundations, we wld av fared Better.


1. Clearing of debts just like he did during his military era as the president.

2. OBJ built all the gas power stations that GEJ refused to supply gases to power it's turbines. Don't get me wrong.. Him refusing is not deliberate..but while Nigeria was busy selling gas to Ghana to power their stations and stealing the money made from that, our own turbines were left to rot. The reason we had constant light during the first few months of buhari before the useless avengers started blowing up the gas pipes was because for the first time, the turbines worked!

3. Increase in salary

4. Best economic growth index

5. Largest foreign reserve

6. Tyranny ...because that's wot wld only put some idiats in check

7. Right people for the right job

8. Best foreign policy

9. Good currency flow


While he has his faults as corruption is also breathing fine so far u are his annointed, he still performed wey better than any president we ever had or have.

Buhari shld review his policies, u cannot remove everything at a time. That's why some people said he is deaf to a wanton fault!!!

He meant good but he's not doing it right..

That thing you are taking is not good for your health.

OBJ, best president? Are you on your meds?

A man that said election is "do or die" is best president. Someone that silenced opposition brutally is best president.

The only valid thing OBJ did in 8 years was to cancel the debt (with the help of NOI) and increase our foreign reserve (with the help of Soludo).

1. And those things were done in his second term. Under OBJ, naira rose from N21/$1 in 2000 to $133 in 2004. That is a 600% increase. Even Buhari would not be able to perform so badly. How old are you?

Even Abacha that stole so much only had exchange rate fall from N17.30/$1 in 1993 to $21.89/$1 in 1998.

OBJ saved so much money because he was too stupid to find anything to use it for. He siphoned as much as he could and left the rest in the treasury. What was the impact of the high reserve on the life of Nigerians? What was the rate of FDI?

2. How many gas turbines did OBJ build? OBJ spent $15b on power, and he added less than 1000MW to the national grid. What else did OBJ do? GEJ spent less than $1b because he was privatizing power and added 1000MW. Who did it better?

3. Obasanjo pegged minimum wage at 7500 from 3500 (214% increase). GEJ increased minimum wage from 7500 to 18000 (240% increase). And GEJ did it better because after OBJ increased his rate, the purchasing power of the naira fell by over 600% during his tenure (1999 to 2007). GEJ increased his rate, and the purchasing power fell by only 12% (in 2011, highest rate was N165/$1, in 2015 highest official rate was N199/$1).

So, Obasanjo gave workers a trojan horse, GEJ gave workers an increase of true value. Why did Obasanjo not increase the rate after he knew that purchasing power of the naira had fallen?

4. Both OBJ and GEJ performed brilliantly in economic growth index. Unfortunately, while the economy was growing under OBJ, other indicators such as inflation rate were rising. Under GEJ, while the economy was growing, our inflation rate actually reduced. Who did it better then?

5. It's a clear win for OBJ in the foreign reserve. However, the question to ask is did the foreign reserve reflect on the economy? GEJ built 9 new federal universities, OBJ used Nigeria's money to build 1 new private university for himself. His vice, Atiku did the same thing. GEJ revamped the railway sector. OBJ left it neglected. GEJ revamped Agriculture by part-funding rice mills, fertilizer plants, OBJ was content with allowing us to continue importing food. GEJ added more kilometers of motorable roads and more length of power lines than OBJ. OBJ was busy fighting political opponents and doing owambe.

6. Did Tyranny make OBJ less corrupt than GEJ. If GEJ's government was as corrupt as OBJ's government, GEJ wouldn't have instituted the IPPPS and BVN that made it possible for ghost workers to be reduced. OBJ let ghost workers thrive. OBJ instituted EFCC and ICPC and used them as his lap dogs to fight political opponents.

7. GEJ had better appointments than OBJ. NOI is the common denominator. And Sanusi rivals the brilliance of Soludo. Should we talk about Adesina, or the minister of health that made Nigeria record less Ebola deaths than all other West African nations, or our minister of trade and investment.

8. What do you mean by best foreign policy? OBJ is a stooge of the West. He is a boy-boy to Washington. GEJ told Washington to shut it when we turned to Russia for arms to win the War against BH. He told Brussels to eat their a$$ when the EU-ECOWAS deal fell through. He sent a planes to evacuate 4000 Nigerians from Libya when the West starting bombing Libya to the smithereens. What about the Yellow Fever diplomatic saga with South Africa.

9. About currency flow, I will refer you to the first entry.

Don't talk sh*t. From 1999, Nigeria started having good presidents that were getting better with each new election. OBJ was better than all civilian presidents and military rulers before him. Yar'Adua would have been better than OBJ had he done his 8 years.

Only his 2 years in government and we were able to weather off the storm of the global economic crisis and oil price crash without significant hit to the economy. If OBJ or Buhari was in charge then, it would have been a disaster. GEJ took over and started charting a course of opening up and liberalizing the economy. It was a continuum and Nigeria was the gem of Africa. 3rd fastest growing economy in the world, #1 investment destination in Africa, largest economy in Africa, and 22nd largest economy in the world.

Until educated illiterates like yourself thought it best to reset all our gains and take us back to 1984.

GEJ was better than Yar'Adua and Yar'Adua was better than OBJ (going by the first two years of their tenures).

Nigeria wanted magic, and magic we now have.

We do not want to accept faults, and look at the progress we've made. 1999 to 2015 has been the best 16 years in Nigeria's history. Rather than see how we can consolidate the progress, we thought it best to throw everything away.

OBJ picked our economy and polity from the dirt. Yar'Adua gave us hope with his respect for rule of law. GEJ opened the economy up to the outside world, liberalized the polity with FOI bill, BVN, IPPPS; and enriched our democracy with the truly independent INEC and canceling out the do-or-die affair.

Every married person can attest that their partners are not angels. They have their faults that need changing and corrections. But what makes the relationship worthwhile are the plus points of the partners and the gains they bring.

Nigerians failed to grasp the positives, we only fixated on the negatives. Unreasonable people like you even called for tyranny, an anti-thesis to modern-day governance.

Well, here you have it. APC will destroy all we have gained in only 4 years. After that, they will continue because I'm yet to see the people that would be able to remove Buhari in 2019 or the INEC that would conduct conclusive, free-and-fair presidential elections.

-Lord

vodutive:
in the country of the blind, the one eyed man is King, it says a lot about you if you think GEJ is the best civilian president weve ever had.

I like Buhari, but even before he was elected I said 2 things 1) Buhari is surrounded by too many theives to be effective and 2) Buhari doesn't have a plan for the economy. But I admire him because he is a man of integrity, simplicity in a country that has lost it's values and there are few upright men left..

I understand you Like GEJ but if you cannot see his incompetence, shortcomings and failures, then it says more about you that GEJ.

I puked after reading the bold.

A man that faked his certificate, lied about his wealth, and couldn't even stand by his word that he would not contest again after 2011 is a man of integrity and simplicity.

You must be high on some illegal stuff.

Point out where I said GEJ is a saint and is perfect?

-Lord

vodutive:
what has Buhari got to do with this? Just as Mo Ibrahim said "excellence is excellence" but we Africans like to deflect issues by compare ourselves to the mediocre. is Buhari a mediocre president? yes but what does that have to do with the incompetence of GEJ?

Stay on point we are talking about GEJ not Buhari, why don't you compare him to great leaders? Because you know he can't stand next to any great leader.

Well because GEJ is the best civilian president we've had till date, and 15m people brought in a disaster to replace him. That's why I am comparing GEJ to Buhari.

-Lord

vodutive:
[s]it's only corrupt, inconsequential countries with similar mentality that have time for Jonathan. For all his record as a man who handed over power willingly (which cannot be taken away from him) you would expect him to be feted by GLOBAL organisations and an Ambassador for peace and democracy.


Respected statesmen can count on invitations to give speeches by respected organisations around the world. Why arent respected international organization looking for him, why isn't he giving speeches at Harvard, Oxford, Rockeffeler institute, UN etc? He is an academic (or supposed to be) why aren't respected Universities offering him a visiting fellowship or to give speeches on governance?....because he is a Buffoon and the world knows it peaceful hand over notwithstanding!!!!

A whole former president of Nigeria, a man who acheived a rare feat in Africa and it's DEPUTY IG of police of a small country like Zambia that has your time and the slowpoke is feeling cool?


"Why Jonathan, Okonjo-Iweala Didn't Win $5m Mo Ibrahim Leadership Prize

“The criteria are simple; we are looking for a leader who came to power democratically and transparently, then moved his country forward, made important key decisions which helped its people and then bowed out gracefully at the end of his or her period.”"


"Mo Ibrahim, however, disagrees that Jonathan delivered on this feat, saying “excellence means excellence”.

“There’s an issue about excellent leadership and that’s not an African phenomenon; look at Europe, look at Asia, over nine years couldn’t have picked out five exceptional leaders in Europe, in Asia.”

When asked by BBC if no African leader deserves to win every year, Ibrahim said: “Yes, exactly, it’s not because we are Africans, we have to accept substandard; excellence means excellence.”[/s]

Trash!!!

Go win the Mo Ibrahim prize if you want.

I'm very sure Buhari would not be nominated after his tenure.

-Lord

LordAdam:
$100 PayPal funds for sale. Rate is N340.

Please, if you don't like the rate, 'just waka pass.'

Whatsapp contact is on my profile.

-Lord

Funds cleared.

Sold to Lstar4real.

-Lord

$100 PayPal funds for sale. Rate is N340.

Please, if you don't like the rate, 'just waka pass.'

Whatsapp contact is on my profile.

-Lord

989900E:
We are so good at turning every little procedure into rocket science. #underlyingselfishinterests

Spot on.

cyrilfosy:
I have this girls am bleeping and she really good at it. but she came visiting me one day with one of her friend and since that day her friend has been acting funny. to make matter worst my girl lost her phone for some time and the only way I can contact her is through that her friend. my girl has been complaining to me that it's like her gf likes me cos she always talk and ask about me. they recently had a little quarrel because of this same issue and her friend finally told me via whatsapp that she wants me to bleep her. I told her my girl doesn't like sharing and she replied me that my girl should better learn How to share because I am not meant for my girl alone. she told me she have so many crazy things shes plan to do to me. my fear is I don't want to hurt my girl but this girl is really on my neck. do u think my bleeping her will calm things down cos she's doing everything to set up my girl with another guy so that she can have an excuse to assess me. Pls help it's a serious matter

If you go down that road mate, there's no going back.

If you decide to go down the road, be rest-assured there'll be consequences that you'll hate.

If you're willing to throw away your relationship for fresh punna, then go ahead. Because there is a 95% chance your gf will find out if you bang her friend and I bet she would not be thrilled.

'Nuff said.

On second note, I have a feeling you know the right thing to do, but you're hoping someone can give you a tip so you could eat your cake and have it.

-Lord

obailala:
It can be quite a daunting task moving a country forward when citizens of the same country are working tirelessly day and night to pull it down.

These challenges have always been there. It is a pity there is no actionable framework to stop the incessant vandalism.

Aside the vandalism, the efficiency of the refineries is crooked. Good today, Better tomorrow, Worse the day after. There is no consistency. It's almost as though these guys are just cooking figures and there's no way to verify or hold them accountable.

Before the agitation of the ND militants, vandals have had a field day. Bunkering, vandalism of pipelines and even electricity infrastructure pre-date 1999.

These are problems that will never go away, they can only be reduced to a point where they don't constitute much of a problem. The telcos operating in Nigeria always have reports of vandalism, it's not just the government.

Rather, than chalk blames, how about we accept the difficult situation we are in and figure out how to resolve the messy situation?

-Lord

How is it that we have so many people occupying sensitive positions in Nigeria who cannot follow due process?

It is sad.

They should sell at least 2 of the refineries and then we can compare performance of the privatized and government controlled refineries to know our next course of action. But then, these are refineries that some elites get their daily bread from, so it wouldn't be so easy.

Buhari is the minister of petroleum, but I doubt he has what it takes to resolve the problem with our refineries. The state of our refineries is like the pre-privatization power sector. Had GEJ not privatized the sector, between 2013 and now, we'd have spent over $4b and have nothing to show for it. We may not be seeing the effects of privatization yet, but at least the government is not wasting billions with nothing to show.

Like the petroleum and kerosene subsidy, anything that involves the government would be mired in corruption and held in chains by the various cabals.

IMHO, if we can't wrestle control from the cabal, then sell the properties. At the very least, we wouldn't have to worry about sinking money into the wrong hole with nothing to show for it, essentially 'dashing' money to people for nothing.

-Lord

DIKEnaWAR:
Seriously, I followed all of Abu Sidiq's post; dude is a clown and have a warped judgement sometimes, like Omojuwa, but that does not make Okupe innocent or EFCC right in 'kidnapping' him.

He was one of those urging Buhari on in his rape on the constitution and abuse of human rights of citizens. They didn't know that Buhari is just rearing his ugly dictator-head.

We can't abandon him, cos an injury to one is an injury to all. We don't know who might be next. Abu Sidiq and his goons should know that it doesn't matter which political divide you stand today. What matters is Nigeria.

Yes we can. We will. We already have.

We would not cheer Buhari and the EFCC on for their arrest. We would only turn a blind eye to the arrest and talk about more pressing issues like the economy.

Abu Sidiq is inconsequential. He is a nobody. He should get accustomed to the fact that no one is safe under the dull.ard.

-Lord

989900E:
Of course, it is everyone's fault except the CBN's, and Emefiele is just so perfect even with all the policy flip-flops, and somersaults . . . even though it took the CBN 6-7 months to come up with the prevalent Forex policies, it is no fault of theirs that adequate checks and balances are not put in place to make the banks participate in the required manner expected of them in the market.

Emefiele and the CBN's commitment and reactionary policy fabrications is one thing, achieving the desired goal is another. Every other aspect of the economy revolves around sound monetary policies, else fiscal policies would not have the desired effect on the nation's economy.

The CBN spends a fortune in the name of 'mopping up excess liquidity', also raising interests (raising interests dulls the economy), yet the same excess liquidity could be well checked by using the 'Boyo' approach. Ironically, as much as you, I, and everyone else will want the gov't to 'pump' money into the economy, with the tattered monetary policies and uncontrollable fall/epileptic situation of the Niara, it will only worsen the value of the Naira, and further drive up inflation if the proper monetary policies are not in place.

The banks are required to have matching CRRs, but none for the Forex deposits with them -- that's some keg of gunpowder, what happens if any of those banks go bankrupt tomorrow? Many economists, have proffered different smart scenarios to make those idle dollars in them vaults count towards our dollar liquidity . . . but, that will not be in the best interest of the same set of people who put us in this mess in the first place.

I could go on and on . . .

Bottom line: Only results will/can justify/vindicate the CBN and Emefiele (they are trying, but their best is not good enough; not acceptable). The results right now are piss poor. If the governor thinks the presidency or minister of finance are impediments to his good and invaluable work, he can sure do the honorable thing by resigning.

One would expect with the little fall in imports of rice, PMS (from 40m litres to roughly 20m litres a day), and some other stuffs, the Naira should be getting a breather, but hell naw! Isn't that something to ponder over?

That said, quick one:

what is the total monthly Forex demand of the country as a whole?

what is the total Forex inflow (overseas remittances, investors, crude oil sales and other exports)?

And what are our Forex reserves?

That actually is the proper place to start . . . it is pointless doing this without those figures. If the figures given by the CBN are true, then the CBN's leadership does not know what it is doing.

I'm not doing this with you. I've got better things to use my time for.

The CBN isn't perfect. They make mistakes too. However, they're doing their best, and the results while not pretty are the best we can hope for right now.

If that's too much for you to handle, that's your problem, not mine.

Good night.

-Lord

989900E:
Obviously, you barely understand the point I am driving at, and only see the part you wanna/can see.

And, if you can't decipher those basics, it's pointless . . .

You made five points.

1. The CBN is both corrupt and clueless at the same time.

It is true they are corrupt, even NAFDAC under Akunyili and the Ministry of Agriculture under Adesina were still corrupt, but they weren't clueless. They made strides and you wouldn't mask the laudable efforts they made just to take a swipe at them for corruption that would take decades to eliminate completely.

The CBN under Emefiele is not clueless. The FG under Buhari and Ministry of Finance under Adeosun are the definition of clueless.

2. The banks are some cesspit of profiteering and racketeering, frustrating all monetary policies along with their cronies.

Also true, and it has been a never ending battle since the days of Soludo. Have you forgotten so soon about the CBN's reaction to the Skye Bank saga under Emefiele?

3. Some group of Nigerians (politicians mostly) are going to make most policies null/DOA with the massive amount of stolen monies they need to convert to foreign currencies for easier storage.

It happens everywhere, and it is the job of the government and relevant agencies to anticipate them. The CBN is obviously doing its best to reduce this, with the regular monetary interventions.

4. The CBN under Emefiele is not only weak, but chronically corrupt, thus lacks the will power to really effect the actual policies that should arrest the situation. It is worthy to note, Emefiele supervised the emptying of the treasury, he didn't do it for free, he owes those people, hence he can't really go for the kill (against hoarding). Over $20 billion dollars in dorm accounts in Nigeria, and there is scarcity?

Arrant Nonsense! The last time weak and chronically corrupt was used to describe an office holder of a sensitive position, it was GEJ. After he left it for someone "strong and not chronically corrupt" we know where that got us. Someone that shut down BDCs for blatant abuse of privileges, and then stopped the services of 100s of remittance companies to ensure streamlining of remittances to BDCs for more availability of dollars is weak? Do you know how many toes he stepped on with those decisions.

How old are you?

The over $20b you are talking about, is it your money? Is it FG's money? Is it a crime for people to keep their dollars in Nigerian dorm accounts? If you had $10,000 dollars in your dorm account as savings for a rainy day, would you sell it to the CBN because you are a patriotic Nigeria when you do not have immediate use of the Naira.

Do you not know that those $20b are deposits that the banks use as base for their lending? Or do you want him to rob people of their dollars?

5. Still on hoarding and racketeering, now everyone is doing it -- from Nairalanders to bank staffs, BDCs, government officials, Nigerians overseas, the 'average Joe' . . . but we all want a stable Naira, how ironic?

Everyone is out to make money. If you aren't, poor you. The Government created the conditions for hoarding and racketeering to thrive. If the economy was in a better position, would the disparity between official exchange rate and black market rate be this high?

Now that the CBN is trying to close the gap, what is the FG and Ministry of Finance doing to bolster the CBN's position? Abi is it only a fight for the CBN alone.

Within the next two months, Nigeria would officially be in a recession. With oil price still low, almost non-existent capital spending, and no working fiscal policy, the naira would take a fine beating, and hard as CBN may try, it can't stop a ship that has already sailed. Buhari, Osinbajo, and Adeosun have killed the economy, don't expect Emefiele to salvage anything. He has done his job, don't blame him for the inefficiency of others who cannot do their jobs.

While the CBN is having regular MPC meetings and doing all they can to keep the naira afloat, Osinbajo (the head of the economic team) and Adeosun are holding 1-day economic retreats with fanfare and still running about looking for experts to consult. Buhari is empty, so there's no need talking about him.

-Lord

Pavore9:
Oga, there is DEFINITELY something to rack the brain about! Kenya presently exports on an annual basis, thousands of 40ft containers filled only with avocados heading to Europe, Middle East and parts of Asia not to of the volumes that is exported by air......Imagine the numbers of farmers who made it possible and the millions of foreign exchange it brings in!

It also exports other fruits, vegetables and flowers on a daily basis to destinations outside Africa and this export business is in Private hands whiile government agencies see to it that it meet the established standards of the destination markets.

Oserian Flowers is just one the numerous farm that exports flowers to the UK, Netherlands and US. Sitting on 200,000 acres, the farm alone employs 4,100 people........one can only imagine the volume of FX coming into Kenya through this company alone! That is why buying Foreign currency of one's choice is not an issue in Kenya, just walk into Forex shop with your ID and get what you want.

In Nairobi alone going by what l see, visiting foreigners including Nigerians spend nothing less than $1m weekly on purchasing artwork and handicrafts as souvenirs of their visit to Kenya.

Some Nigerians in some other parts of Africa import some of the spare parts they sell in their shops from manufacturing companies in NNEWI (Anambra State). I am the eye of a Lagos based company producing school related materials in the East Africa region, the products quality sells itself and clients loves them, translating to dollars to the Lagos based company and dollars to import some of their raw materials from China without the Aboki rates!

Lagos and Abuja in terms of flight duration to many of the major destinations in Europe have an advantage over Nairobi as ours is shorter but why is the baby carrots, French beans, baby corn, snap beans,snow peas etc not also exported from Nigeria when all those crops can do well in Nigeria?

I saw a Facebook post some months back where a Kenyan exporter was looking for Kenyans who grow Scotch Bonnet (Ata rodo) and many who responded were making jokes that it is Nigerian pepper, that the exporter should go ask Nigerians!

I do not want to derail the thread, we all have a choice to see a glass either half full or half empty!

I do not want to derail the thread anymore than you do. So, I'll keep the long-winded reply I wanted to post to myself.

I've made my point and you have.

I'll just leave you with this. On the ease of doing business ranking of 2016 (higher is better), Kenya ranked 136 while Nigeria ranked 170. https://en.wikipedia.org/wiki/Ease_of_doing_business_index

Yet Nigeria still manages to export a lot already. I dare say more than Kenya.

I'd repeat, Nigerians are resourceful people. If the conditions permit, we'd export far more than we currently do. Unfortunately, the conditions are crap, so don't expect miracles from us.

As at 2011, Egypt produced 156.5 TWh, Nigeria produced only 27 TWh. https://en.wikipedia.org/wiki/List_of_countries_by_electricity_production

Nigeria's population is 2 times larger than Egypt's. If we had produced even half as much as Egypt we would have been better able to manage this recession.

Nigerians have been stretched to a limit that may pop soon, don't even try to suggest that the people ain't doing enough. Who no 1 make money in dollars?

-Lord

Pavore9:
Nothing good comes easy, na to rack the brain and source knowledge as Government no send anybody.. The national psychology tilts rewards importing thus making export look like a dark tunnel, let knowledge be your touchlight through it.

As per phone, who exports phones to the U.S from Nigeria, do we manufacture phones?

Oga, there is nothing to rack the brain about. Nigerians are resourceful people. The Binis and Yorubas were exporting kolanut, palm oil and the the Fulanis et al in the North were exporting hides and the likes before Nigeria was a country.

So you can't say "national psychology tilts towards importing" like the people who are exporting Rubber, Cassava, Cashew, Ugu and the rest from Nigeria are aliens.

If we have much stuff to export, people would be going into the business. Plastics produced in Nigeria end up in many of the neighboring West African countries.

It is unfortunate that in today's world, all of the stuff we can currently export are not up to scratch monetarily. Raw materials, which make the bulk of the stuff we can export, are not worth much today. Finished goods is where the money is at, and Nigeria does not have the infrastructure to support industries.

That is why diversification is dead on arrival. The best we can hope for is to be self-sufficient in producing the food we eat and patronize Made-in-Nigeria products. This will keep money within Nigeria and prop up the economy.

Banking on exportation to float the economy is a pipe dream.

No stable government with consistent policies. No electricity. Running a business is more difficult than running a nuclear power plant. No viable transportation network. And you are yapping about exportation like China, India, Brazil, Mexico, Vietnam, Malaysia, Thailand, which are the newest countries using exportation to prop their economy are using telepathy to produce goods to export.

Make everybody just press, after the reggae play the blues.

-Lord

989900E:
1. The CBN is both corrupt and clueless at the same time.

2. The banks are some cesspit of profiteering and racketeering, frustrating all monetary policies along with their cronies.

3. Some group of Nigerians (politicians mostly) are going to make most policies null/DOA with the massive amount of stolen monies they need to convert to foreign currencies for easier storage.

4. The CBN under Emefiele is not only weak, but chronically corrupt, thus lacks the will power to really effect the actual policies that should arrest the situation. It is worthy to note, Emefiele supervised the emptying of the treasury, he didn't do it for free, he owes those people, hence he can't really go for the kill (against hoarding). Over $20 billion dollars in dorm accounts in Nigeria, and there is scarcity?

5. Still on hoarding and racketeering, now everyone is doing it -- from Nairalanders to bank staffs, BDCs, government officials, Nigerians overseas, the 'average Joe' . . . but we all want a stable Naira, how ironic?

Please Mr. Economist, suggest a better monetary policy.

Since the start of the FX crisis, CBN has taken hard but valid steps to assuage the situation. It is not their fault that they are not performing any miracles. Emefiele is not a sorcerer.

The major department of the FG that can prop up the economy is the Ministry of Finance. We have an amateur there. And no body is saying anything because she is from the sophisticated tribe.

Nigeria is in a recession and the best Adeosun can tell us is that she's getting rid of ghost workers and not giving states new bail out? If NOI hadn't thought up and instituted the IPPS and Sanusi hadn't enforced BVN, would Adeosun be able to get rid of ghost workers?

Even a 2-year old kid can rid the civil service of ghost workers because these motions have already been set in play by the former administration. NOI removed tens of thousands of ghost workers, so it is a gradual process.

I'm not saying those are not important, but what Adeosun should be concerned most about is following the fiscal plan to spend our way out of this slump. They planned to spend N1.2 trillion in capital projects in 2016. It is August already, and only N200b has been disbursed.

How do you want the economy to grow and become enticing to investors if you're being a miser and not fast-tracking the process of disbursing that money? They are playing politics with the lives of 180m Nigerians. If there is no money, go and borrow. We all know the anti-corruption war is a farce and all those recovered loot sh*t only exists in the papers.

Emefiele managed a 197-199 exchange rate for up to 16 months, all this while the President was gallivanting and waiting for God knows what before assembling an economic team. When he did assemble a team, they put together a budget full of errors and drama. All these while, Emefiele was holding the fort.

After the budget was passed and the ball was in the court of Adeosun to give the economy a boost, she couldn't perform her duty. She was speaking Queen's English before and after the float happened instead of positioning the economy.

Even after the float and her inaction rendered the new policy useless, Emefiele is still buying her time with regular monetary interventions, and you still have the guts to blame Emefiele and the guys at CBN?

What da f'ck do you want from Emefiele?

Emefiele is responding to the times. If FDI had started flowing in after the float (as expected), would the CBN resume selling to the BDC's or revamping the remittance market?

This is how you guys jumped into conclusions that GEJ was doing nothing at the top. He left it for a fuckt'ard and everything went south.

Now you guys have shifted it to Emefiele, that he is doing nothing there, and so should be sacked.

Ask yourself, what exactly do you think Soludo or Sanusi would do in Emefiele's shoes?

Would Soludo or Sanusi have been able to convince Buhari to allow floating of the naira back in 2015 when he should have allowed it? Were these two not speaking with megaphones about floating/devaluation and Buhari was forming Alhaji?

Soludo and Sanusi managed Nigeria in times of plenty. Under Obasanjo, when the economy was still in shambles, USD/NGN increased from N21 to N133 (an over 600% increase) between 2000 and 2004. When Soludo entered and oil price maintained a high average, he was only able to reduce it from N133 in 2004 to 127 in 2009. Sanusi reduced from 127 in 2009 to 117 in 2014 when he left.

Soludo/Sanusi spent $20b to prop the naira during the aftermath of the financial crisis, which ended quickly after oil prices started rising. Emefiele has spent only less than $10b with prices falling and staying low for almost 2 years, and you expect the USD/NGN rate to be at 200?

Emefiele has done his best. If his best is not good enough for you, simply relocate from the country and go pay your taxes in another country.

Everyone knows the CBN is more involved in assuaging our current crisis than the FG and its moribund Ministry of Finance.

So, better sit tight and buckle your seat belt. We are in for a rough ride thanks to a dormant FG and reta.rded ministers (with Adeosun being a special case).

Pray oil price rises soon, because there is nothing Emefiele can do without corresponding input from FG to change the current trend.

We are in a recession. There is no dollars. The naira is worthless. Deal with it!

-Lord

MadCow1:
Make dem continue to dey blow the Pipelines..



F.G should shut down all Onshore Oil Facilities, remove all derivatives from Oil to all Niger Delta States, Shut down the Ministry of Niger Delta, NDDC, NCDMB, OBDC, e.t.c..

Heavily fortify all Shallow and Deep Offshore facilities..

Let the Niger Delta States hussle for IGR like other States..

Lets see how that works out for them.

How old are you?

-Lord

Mynd44:
Nigeria will no longer bow at the whims of terrorists and econonic saboteurs. Mbanu

You must be feeling stupid, now that the FG has called for a ceasefire and are begging, caps in hand, for negotiation.

An empty drum makes the loudest noise.

-Lord

sweetgala:
Can you please name the emir or credible northern leader who claimed an attack on boko haram is an attack on the north ?

The fact is you can't because that statment is itself ficticious and was only put forward by the media aides to GEJ to support his slugish response to the BH menace.

The Arewa forums and Northern Elders forums were opposed to an endless state of emergency which at the time did not stop BH from expanding and taking over 14 LGA and mass murder. May I remind you over 5 rulers were sacked from their throne, 2 killed an attempt on Ado Bayero and Buhari life's by this same BH is proof of their merciless antics

https://www.nairaland.com/2061360/attack-bokoharam-attack-north#29193915

You talk too much.

#Zombie.

-Lord

Rone16:
Okay i always feel really disgusted by PDA.When people kiss in public,or if I guy gets everyone to his attention to sing to a girl in public,or if a guy proposes at a wedding or gets a crowd to witness his proposal(then the girl will be forced to say yes),If a guy gives a girl piggy ride on the main road,there was one I witnessed(he used cupcakes and flowers in a public place to ask a girl out) and another one in the cinema(50 shades of grey was showing so i guess it wasn't their fault);people were just kissing,ripping each other apart and some were even moaning sef.This really made watching that movie annoying and I just left with the person I came with.I met this guy who thinks PDA is everything so I didn't even go out with him at that time because of that.I just want to get your views about PDA to see if more people like it or hate it like me.If you're in between,you could tell me the part of PDA you like and the part you hate.I just need your opinions to see if I'll try to change or just remain this way.Thanks

There is absolutely no point trying to conform to what the majority of people accept as okay.

You are FREE to like or hate PDA. It is a personal choice. Get into relationships with people who hate it like you and save yourself the heartache of trying to cope with someone who is the opposite of you.

-Lord