₦airaland Forum

Ms202309:




Babangida and Julius Beggars just constructed a massive money gulping project

Carter bridge and Eko bridge no chop money reach this third mainland bridge



.

i tìrẹ oooo... Am always asking what on earth is wrong with that bridge that it always warrant major repairs every 4 years.. I don't know any bridge in it's length that gulp money the way it does.

festacman:
I use to see Seyi Tinubu as a smart dude who would deliberately stay away from Aso Villa and instead operate silently bringing in businesses from outside Nigeria to explore opportunities in Nigeria, create employment and boost the economy while securing handsome stake in their local operations. I use to think he is a TRUE entrepreneur.

But by this singular act of unnecessarily sneaking into FEC chamber to attend its meeting unauthorized, Seyi Tinubu has shown that he just is a lazy dumb head and that all the businesses that were touted as his are just empty shells. He is just a helpless "omo daddy". In fact Buhari's son has proven a smarter person.

Seyi Tinubu fall hand big time. Now, his dad has subtly chased him out of Aso Villa since he refused to have sense. His value has taking a big crumble and people in Aso Villa will always see him as a busybody. I am sure he will either fly out of Nigeria to cry on his wife's shoulders or man up and explore opportunities.

you very succinct... The guy got carried away I guess.. Am aware from the grapevine his siblings are also pulling political strings of their own tho.. Although not has brazen has he has been doing, focus on business.. Build it and thank your stars later Governance is not for ever.

This fifa get problem.. Qatar just host the tournament last year nau

MrEverest:
If ikwerre people are smart, they should align with Sim Fubara now and isolate idiotic Wike. Otherwise, if they join him in this dance of shame, they will end up going down with him.

Ijaws outnumber them in numbers and also violent in nature. So, it won't make sense trying to fight them. Secondly, ijaws will easily join forces with Ogoni, Kalabari and even some oppressed Igboid groups in Rivers like Etche and Obigbo. Even ijaws from Bayelsa and Delta are teaming up with their brothers in Rivers State. Edwin Clark is already condemning Wike.

If that happens, ikwerres will return to old Rivers situation when they were completely sidelined.

all this una permutation from your sitting room since 2014 no dey tìrẹ una?
All you just want is downfall of Wike due to the fact that he supported Tinubu.. You don't even care to find out what went wrong between both parties before you make Ur decision on who to support or remain neutral in this discuss.. For me I don't even have an Idea what could be wrong right now between both of them under 5 months.

HIGHESTPOPORI:
There is a new Chief Judge loyal to the Governor already

the house of Assembly has no power to suspend a chief judge of the state, any judge that risk taking that position risk the wrath of NJC which can suspend him or her from the bench.
8 people does not form a quorum in that house of assembly nor can they impeach the speaker, we should not be celebrating illegality because of hatred towards Wike.. It's wrong.

CodeTemplar:
After floating and realizing it could reach N1350 soon due to lack of forex, they quickly pegged back the official rate to allow easier loan repayment.
Tinubu has been reversing his major decisions. That is a poor self appraisal score.

this is not true floating.. True floating means 'no official rates"this is Akin to what Buhari did when he said he deregulated but he truly didn't because NNPC and DPR where still controlling the price.. For true floating, deregulation, the CBN must close the I & E windows and allow the market to be free... That's when it can stabilize.
Why on earth should we have back log of $7million to pay it's high time the National Assembly ask questions from former Finance ministers and CBN governors.

Ehyaa RIP Prof

Does this Debo guy of PDP know that with this his statement after the judgment, he has commit a crime in the eyes of the law with this reckless statement? He can be charge for contempt and some other various charges... The supreme court is final.. All parties must take it's decision in good faiths and not be disparaging the Justice.. PDP/ApC to me are just same thing even LP same set of politicians everywhere.. The 25% thrash of Abuja should please end abeg it's silly, for this guy to even bring it up again is so myopic.

teepain:
You have a point and what you have recommended is full floating of the Naira. This will stabilize the Naira but it will exchange at about #2000 to about $1 until we start producing sufficiently for our consumption and exportation.


@reference, you are certainly on point the restrictive policy of the CBN to favour a couple of people is not sustainable.

in economics stability of a currency is the key to economic growth, you will be able to plan, failure to plan is road to catastrophe.. Which is where we are heading to right now, once the naira is stabilized.. Government policies, plans will.. Or might come into effect even if the corruption is 50%,but uncertainty on naira.. If it rise any how or dip anyhow under a short period of time..!even if there is zero corruption.. All government plans /policies will fail.. This thing is not rocket science... Float the naira for real even if tomorrow morning it's 100,000 naira to a $, let it be stable..

Now to your other opinion.. Nigeria is not the only "manufacturing production deficient" in the whole world.. In fact 67% of the countries in Europe are also deficient when it comes to production of manufacture, agriculture, mineral resources, but yet none of them have a dichotomy of foreign exchange rate like we do.. It's an abnormally which must stop or else.. All of us PDP, ApC, LP.. Whatever will be poorer... From Dangote down.. If we don't find a solution to this naira swirling down a tunnel... Zimbabwe issue will be a child's play when it dawn on us.

I pray President Tinubu find a solution quickly right now or anybody.. We need help actually. Not loans real help on how to stabilize our currency.

Anaya4life:
The only problem I have with this is that Nigerians are naturally greedy and wicked people and the BDC's will be in control of setting fx rates. See what they're doing now, imagine what they will do when they're the ones in charge of determining the rate

my brother... The beauty of the BDC or aboki on the street not having any control on FX if it's truly floated is that the NNPC, IOCs, NPA, Customs are the highest FX earners in the country IOCs through their royalty duties and taxes attract nothing less than 63% of FX into the country, next is Nigerians in diaspora 19.5% the rest to others..
Now in any market anyone that can do even 35% of the market can "influence" mark my word not "control" cos to control means regulations.. If the official rate is abolish, government will run BDCs, Black marketers of the market.. It's just has simple has that.

Am busy now but for this your question let me try and answer a lil bit.. Let's say $ was 1000 yesterday to an aboki with just with $50000..and a IOC or CBN or a bank with $1,000,000,000.00 why won't The IOC or banks sell at 9950 naira? They will once there is no item restricted on their selling platform.. Let everyone go and buy at the parallel rates, the rate will come down... Another thing we need to watch out for is our unnecessary outrageous debt profile, it's ridiculous and no result for it... Anyway let everyone both govt and individuals trade at the "real" market rate.. Naira will stabilize.. If not by February we will be in major economy catastrophe.. If not before then.. We need to act now please.

This must be a joke of the century.. No way any Government can outlaw black market.... In any product or currency... There is a reason it's called black market... Abolish the official I&E window and trade at the value of the "parallel market" the naira will stabilize instantly.

Radarada of the highest order, they way some people with little authority dispense power will make you wonder what will happen if they are given real power.

My question is how is it possible for an adult preeq to enter a six year old thing, it's practically impossible.. The lil child will automatically bleed to death.. People are just crazy, six years old? For what?

micxwell:
I feel you bro. Amen to the bolded.

I find myself still puzzled by the situation. Initially, I was under the impression that the official exchange rate had been discontinued. However, when I check the Naira exchange rate on Google, it remains significantly lower than that of the black market.

This implies that certain individuals are still benefitting greatly from the disparity between the official and black market rates. We have yet to truly achieve a floating exchange rate, and it seems the CBN governor is employing complex language without substantial progress.

This predicament left me disheartened yesterday. In June, I lent someone in Canada $1,700 CAD, which was equivalent to N977,500 at the exchange rate of N575/CAD Dollar. They now wish to repay it at N890/CAD Dollar, which amounts to N1,513,000. The stark contrast is undeniable. Our Naira savings and investments continue to depreciate.

It appears those profiting from this situation are unwilling to let it subside easily. May God aid Nigeria in overcoming these challenges.

am telling u... It's getting much more horrendous... Those guys are just saying gibberish.. Thank God you understand very well what am talking about.. Allow the naira to float freely, thats the only way to keep speculators.

GboyegaD:
The country is not worth putting hopes on. If it is constitutional that the president should meet some basic educational standards, if he is deficient on this (as his credentials seems fraudulent and he is not ready to clear the air), I am not sure there is a need for this much legal proceedings to do things rightly.

nothing fraudulent about his credentials.. His transcript is valid, the school never said he didn't graduate only thing people are hanging on is the ceremonial certificate he presented.. To me that's ridiculous because am sure he presented a photocopy of the certificate... How can you call a copy of a thing a forgery? It's just ridiculous atiku lawyers are just milking him. They should Pls be done with the court and face the falling naira cos it's not funny anymore.

Crap, this move will just make naira to hit 5000 to a dollar by February... The only way out is to truly deregulate the FX market ban the I&E window, av said it before, without that we going no where, the naira will keep on diving if the official rate is not abolished and let the naira truly float... If they dint do this all.. I repeat all of us will lose in this economy both rich and poor right from Dangote to me poor man on the street.. May God make me rich one day too. Abolish the official rate and do all government business in the parallel market rate.. Naira will not only stabilize instantly.. It will appreciate by nothing less than 35%under two months, this our ministers and CBN governor are just speaking grammar.

taylor88:
Gumi I support you


Abacha said if you’re getting a threat of war from a yoruba man that you should go to sleep


Gumi this is a yoruba government and you already know they’ve no liver to attack anyone let alone the almighty Fulanis


Gumi paste your account details make u buy you beer

so ohaneze is now Yoruba group.... We know of BMC crew... And now èmi lọ́kàn Group... But to be frank you obidient groups dey fall my hand biko... I think obidients that are much more cerebral should take over the social media propaganda from you guys, you guy are doing a very horrible job.

Nigeria is not the only import dependant country.. The problem is dual foreign exchange windows... It won't work in a country like Nigeria.

Lance008:
Oba won place curse and he no Dey create work

don't mind all those traditional rulers.. All they know how to do is marry more wives cause more problem than solution in their community, hardly attract any meaningful development to their community.. All they do is collect 2.5% of LGA allocation from the federation account.. Which in it's self is very illegal because Nigeria is a "Republic".

ThatFairGuy1:
That's how to identify unprofessionalism.

Meanwhile, I stand with Palestinian against the oppressors

you should try your pictures not from 1900s it's actually from 3000 years ago get your history right.

What exactly is the problem of the third mainland bridge requiring shutdown every time for maintenance?

Kestolove:
Naira Marley bullied the guu
Sam Larry and Mohbad so call wife killed him.
Case close

what if all the people plus his wife were not the people not what killed him? You guys should Pls take it eazy pointing fingers to people, this kind of accusations that might be wrong was what led to the death of Notorious BIG....he had nothing to do with the death of 2pac but one idiot took it on his head to shoot him cos of musical beef between them, that was not his business, you doing the same, tomorrow if the naira Marley and Sam Larry are both shot and truly they av no hand in his death or his wife, will u now be satisfied? Nigerians Pls let's set emotions and sentiments aside, yes samylarry going after him with cutlass is a no no and he should answer for that. But false accusations is wrong without proof

frankson1:
The CBN governor and deputies were confirmed today so let's see how they can change things.

I think the FG and CBN should embrace electronic banking system.

well I pray for them but the government has to take actions to cub the fall of the naira.. All hands must be in deck no politics has to be played on this.

ufotunang:
... Angola produce oil and refine their crude oil locally through their refinery into fuel, disel, and other petroleum products.....in Angola their refineries are working...so they refine their crude oil into fuel, disel and other petroleum products export this fuel , disel , and other petroleum products to other countries for sell to earn dollars, foreign currencies as revenue for their country...so that is why their money is strong and not tumbling....but in nigeria here our refineries are not working...we imporrt fuel, disel, kersone into nigeria and Nigeria is using dollars to import this fuel disel kersone...that is why dollars is scarce because the demand for dollars is high which is needed to import fuel, disel, kerosene and import other consumables goods, products for consumption..as nigeria is a consuming country...if our refineries are working .. like the Angola refineries are working...we will refine the crude oil into fuel, diisel, kerosene and export it to sell to other countries inorder to earn dollars, foreign currencies as revenue for nigeria....and dollars, forex will not be scarce in nigeria

please stop lying online everyone can Google this days and find out, Angola has only one refinery which produce just 20% of its domestic needs, they import 80% of their petroleum products.. What Angola does not have is a dichotomy of exchange rate.. They use one exchange rate for their FX.

Let me take my time to explain this dynamic to you pls, Nigeria gets bulk of dollars from IOCs, international Oil companies, those ones sell to the central bank at official rates, the CBN gives let's say 600 naira to the dollar to NNPC to import fuel, independent marketers are mostly expected to source for funds from black market at the rate of 950 to dollars and still be in competition with same NNPC to import fuel and sell in the same market. It won't work it's simple, that means subsidy if not of fuel is still in existence cos now it's subsidy of dollars.
What the CBN need to do is to buy dollars from the IOCs at the real market rate, the parallel market rate and sells to everyone under the cloud at the real market rate, since they are the singular bulk entity they can still control the market as a whale... No more restriction on any one that want to buy dollars at the bank or sell.. It will force black marketers out of the market, naira will stabilize.. To do economic projection will he simple.. What the market hate most is volatility, whether dollars goes up or down drastically is very bad for any economy, what ot needs is simply stability, that's all.. Am not holding brief fir either ApC, PDP nor LP.. What I need is that our government right now should convene top economist, bankers, industrialist, merchants in the country in a room and let them brainstorm and find a solution to this apocalypse that is coming.. To be for warned is to be for armed. This is not time for politics but hands on.. To solve this issue.. Dollar climbing up and up is making even the richest man in the country poorer.. Dangote is getting poorer with the drop in value of Naira.. Because that the money bulk of his wealth is quoted on with his shares in the Nigerian security exchange. It's not quoted in dollars.. We are all in trouble abeg..trading blames is nit the way out, yes I mentioned emefiele earlier in my quotes, but since we had a docile National assembly and Buhari who was clouded by nepotism, who had no idea how economy works, kept ministers who are not performing for eight years on seat plus a CBN governor who was on seat and borrowed 10 billion dollars from domestic market without any financial plan of repayment? We are bleeped.. We need hands on to get things right and it's still possible, abolish the official rate, demand will go down and the real market rate of Naira will be higher, dollar rate will come down.. That's the bitter truth.. No more BTA, no more foreign school fees, why in heck should a poor man be subsidizing the school fees of a rich man children because that's what it is now with that I and E window.

ufotunang:
....the solution is for nigeria to be a producing economy...an industrialized country where we produce to export inorder to earn, generate dollars, foreign currencies as revenue to the country...more of exportation and less of importation.... and also nigerians and politicians should reduce the way they travel to abroad for medical treatment and attending schools, foreign universities abroad.. for this increases the demand for dollars, pounds to do all this things and put pressure on the dollrs which makes the naira to be weak and lose value... nigerians and politicians should value what they have in nigeria and patronize nigeria hospital for medical treatment and patronize nigeria universities..I know it will be difficult for them to do that..but this is the solution to solve the scarcity of forex in nigeria and make the naira to have value inorder to make the economy to be good and better

we are not the only mono economy in the world.. Let's ask why others who are also not producing and are mini economy not having same issues we are having, What is Angola producing more than Oil.. Is their money tumbling? What is Brunei producing? Am not in d mood of listing out countries now maybe when settled from work.. But point is it's not just production, local production that is our problem.. The sole problem is having two market for one commodity in one economy. It doesn't work.. It has never worked period.. It's doomed to fail.. Close official market.. Let's everyone trade on the parallel market simple or else... Naira go still hit 10k per dollar before mid next year..

RepoMan007:
and it was under emefiele the foreign industries rejected letters of credit abi? Daft party agent.
Emefiele helped the daura lanky general secure loans to inspire turnaround but he built village infrastructures all over katsina and shared the rest. Is that emefiele's fault. The anchor borrowers scheme emefiele was involved in was a resounding success even the world bank and IMF will be envious of. Face those who are there and blame them accordingly, useless partisan schemer

like I said before I don't av time for political jobbers.. My main focus is the economy.. Shalom... Be cool with ur display of ignorance online for politicians.. I don't play on that league.

RepoMan007:
You are very unstable. You are still blaming emefiele after your paymaster took the rates from less than 800 to 1000 Naira in 4 months.
They also spoil and tried unspoiling the system with a petrol subsidy removal and reintroduction while not being able to prosecute anyone anywhere for any wrongdoing. Even GEJ, the APC acclaimed clueless one, brought people to book with a toothless EFCC and Judi-Judi Judiciary.

Keep singing the stupid song they paid you and your likes to be singing.

sorry i don't discuss with political jobbers. My concern is the economy not your ApC /PDP/LP in my book they are all the Same. Emefiele was at the head of CBN when those debts were made question should be what is it for?Buhari and the then minister of finance should also answer that.

Shut down the official I & Ẹ window they won't hear... The naira is not floating freely if there is still an official window, ppl will take advantage of it and the Naira will fall further. Now we don't have foreign reserve to block the fall, now our CBN first time in history is failing to meet it's obligation, if you know what this means in economics terms, abeg if you get money to buy good for 6months and keep non perishable foods Pls do. If they don't manage the issue well.. We will definitely be another Greece, Zimbabwe or Argentina.
Scrap the official rate let everyone buy and sell at the autonomous /parallel /aboki rate.. That's the only way we can reset the economy. No other magic under the sun can help us now.. Emeifile really messed things up I swear.

They should go and sit down... What Obasanjo said was the truth.. The only bad part was to command them to stand up and sit down.. The Governor can remove all.. I say it again all of them from their thrones and nothing will happen, all traditional rulers must stand up for any Governor in the country. Traditional rulers are ceremonial not Authority.. Left to me sef they should be abolished, they constitute more to under development of the society in Nigeria.. They do nothing but collect 2.5% of LGA allocation... No productivities but marry more wives, cause land troubles, collect oil company development money or any company in their domain money.. All into their pockets.

TechCapon:
The autopsy is not necessary. At the end they will conlude that he died of natural cause. Chrisland school autopsy how far As long as the rich will be affected, the autopsy will be rendered inconclusive. This is just to look like they're doing something. Let the poor guy rest in peace

una don start. If dem no do am now uba go still talk.. No how to satisfy a human.. Commander Obey song comes to mind

tinsel:
The boy was stupid to have released that secret military memo. He shows his juvenile there. Not everything you dish out to the public. Hold some and keep some. What he did is a treasonable offense.
He did not think about the lives of those soldiers.

i totally agree with you plus the Nigerian military has the right to get hold of him to expose the source of the documents he exposed.. This is the same thing Julian Assange and the other guy are facing with USA government, not everything u expose has a journalist.