₦airaland Forum

Penguin2:

https://www.youtube.com/watch?v=bmLdovpUAgU?si=Y9PbrCCOb3ixr9Vz

An Islamic Scholar in Minna, hearing of Obi’s recent donations across the North, has appealed to him to come to his and his students aid by constructing a borehole for them as their current source of water is unhealthy.

He spoke in Hausa. So, maybe someone who understands Hausa can help us with the full interpretation of what he said.


Saidu im

You people are too deceitful for my liking. You pay one Muslim N10000 to make a video then you paste it on YouTube. Let him make this same demand in the mosque during prayers, we will believe him. Rubbish and ingredient.

Soludo is trying in the aspect of governance in Anambra state. Unlike a toad that used that his crooked voice to build a light rail and turned Anambra to the 7th wonder of the world

PresidObi:
Another 419?

They told all of us to wait for Dangote refinery to start and fuel prices will crash back to 197 naira

They even told us that dollars will crash back to 600 when Dangote starts to sell his fuel.

I've noticed you lie a lot! Please show proof of this statement you said "they told us".

PresidObi:
Peter Obi built a palace in Onitsha, maintains his father's old house and enjoys himself daily. He is a man worthy of kingship.

Built what palace in Onitsha! Liars

PresidObi:
Ok, but if this is all he can achieve as a private residence in his community, was he patriotic enough? Are you sure he wont use the People's commonwealth to build a better mansion, ignoring the needs of the people?

Are you sure that selecting great achievers to mount the position of traditional leadership wont be a better idea?

At least, he's better than Obi that donated GP tanks and called it boreholes! Scam!

tollyboy5:


If hypocrisy was a person lol

Peter Obi did not construct this borehole! His name was only painted on the wall. Look at the foundation of the wall carefully. Those are old structures, DFRRI structures to be precise. Dem wan scam us again!

tefishy:

Is there pumping machine = yes
Is there a reservoir/tank = yes
Does it supply water = yes
Are people happy = yes

Conclusion:
They both serve the same purpose. No argument here.

Oga, can you please show us the pumping machine?

Lizzysamuel:
Obi said he isn't desperate and you're saying otherwise.

Clown

You are the clown. Obi is embarrassing himself. People are seeing him for who he really is. Junketing around the country, moving from church to mosque begging for votes. He is really desperate

Lizzysamuel:
So you want to scam him like Rochas, GEJ?

I hate desperate people. In the case of Obi, it's too glaring. He has taken it to the highest height.

Lizzysamuel:
HE Peter Obi at the College of Nursing Sciences, St Charles Borromeo Specialist Hospital, Onitsha where he donated N10 million to them.

Credit: PO GrassrootM

This man will not stop scamming Nigerians. In the SE, he donates 10M, 100M etc. In the North, he donates GP tanks and call it borehole. Ethnic bigot

CatchMeIfUCanMO:
Stop being ignorant Mr Man, reading more on this would have saved you from displaying your igno rance in the open.

Go and read how the two countries came up with their socalled debt and you will see that USA never collected any loan or got the debt due to a supply or whatever from China but rather it was more like a favor to them, they happened to be among those that have shares or investment where the money was taken.

That can't be said about China's debt to USA.

see this one o! So debt dey get name? Oga debt na debt. The US is owing china trillions of dollars, that is a fact. If dem do plus minus, who go pay each other?

God1000:
Hmm, so china is owing US this much and not the other way round.

Well, this will finally address the debate and misconception

You have to take this with a pinch of bitter kola! The US is the most indebted country in the world! Who are they owing? To the best of my knowledge, they are owing China trillions of dollars and not the other way round.

grandstar:
So the Naira has never been devalued like the Mexican Peso or the Brazilian Real? Nigeria has never experienced an economic crisis like these two countries?

How is properly managing the FX reserves a "detriment to the economy?" I bought forex at 1900, so I should even take your side.

You lack experience on this issue.

It's like you don't understand the CBN statue. The CBN is vested with the authority to supply FX for those that need it by means they see fit. The CBN is not created for saving of FX alone, they also meet the needs of nigerians that need FX. So, I don't understand where this savings thing without spending is coming from

grandstar:
You don't need to be rude to express your point.

What do you know about economics? What caused the Mexican crisis of 1994, the Thai collapse and contagion of 1996, that of Indonesia in 1997, Brazil in 1999 etc? Provide answers

Central banks aren't God. If they mess things up, everyone will die of starvation.

Yes, people need to buy things but not to the point of depleting the reserves. One of the purpose of a floating exchange is to create flexibility in demand for forex based on the quantity available.

If demand is strong, your currency depreciates making it costlier and less affordable, eventually leading to reduced demand for forex..

A weaker currency encourages exports and a desire to earn dollars, which will help add to the reserves.

The demand for forex to "buy things" using your phrase is therefore based on the value of your currency.

Charles Soludo said that the $60bn reserves built during his time in office was by keeping the Naira artificially weak.

In 2012, the IMF advised the then CBN governor to devalue the Naira, in order to reduce pressure on the Naira.

Had he done so, the foreign reserves by 2015 would have been at least $60bn.

This is not Mexico or Brazil or whatever! This is Nigeria. Savings comes when there's a suplus not when there's need. Yes a bigger FX reserve will be better but not at the detriment of the economy.

grandstar:
Rather than praise this development, it should be queried.

The foreign reserves recently went down by $900m. Would a stronger Naira not lead to an increase for Dollars, simply adding more pressure to the foreign reserves?

You guys like thinking like kids! So you expect the CBN to be pilling up dollars while people are in need of it? Who saves when his family is hungry! Only a fool does that.

RealTrump:
You don't understand what your re saying. Floating means allowing market forces to determine price, it doesn't mean CBN will sell or not sell dollars as U claim.

What the report means is that CBN has now reverted back to Emefiele n FIXED the price. The true value of the currency is not being represented as they now spend our foreign dollar reserve to pay the difference.

The foreign reserve is around $33B which means at this rate, we will have no foreign reserve in like 18months n by then, d currency will float itself cos the market ALWAYS wins.


You should get some education. If they will hire zombies, they shd at least hire sound ones.

Update: Some education for the zombies

@PressMyButton

The value of a currency is determined by demand n supply.

But this is just a simplistic way of saying it as things like inflation, interest rate against d USD, how attractive Ur country is to investors n what U import vs. what you export all affect the currency value. I could go deep into how these factors made our currency useless but APC needs to hire me to conduct a seminar for their e-warriors

In a fixed regime like what Naija has reverted to, d value of naira to the dollar is controlled. The value is not necessary fixed to a particular amount, but it is controlled.

Remember, that the value of a currency is high when the demand for that currency is high. But, in order to artificially increase the value of their currency, central banks often play one trick.

As d naira falls, d central bank will deep their hands into our foreign reserve. They take our dollar reserve to buy more naira. Once d market sees that "ahhh, people are buying plenty naira o," it means d demand for naira is high, hence d value of the naira will rise. High demand= high value.

Saudi Arabia also defends their currency, but unlike Nigeria which has a paltry $34'ish Billion in reserve, we can boldly say that at $1.5T, Saudi has an endless reserve of dollars n can do whatever d hell they like.

Going by Nairametrics, this is how we have now burned through $1B in 18 days.

Which yeye report! Where are rhe indices from which the report is based! Where were they gotten from! You see, you guys like typing rubbish and expecting others to prove you wrong. That time has gone! Believe whatever you want. The end shall justify the means. CBN has the statutory duty of providing FX for end users, that doesn't mean the are defending the naira.

People just talking trash on this thread with words like defending the naira, subsidising the naira etc.
One of the statutory duties of the CBN is to provide FX for those that need it. That is not defending the naira. Defending the naira means picking a particular values for the naira and sticking to that value. Currently, the dollar is bought by the CBN on a willing buyer willing seller protocol. The seller/buyer fixes the price and the CBN sells to others based on that. When there's a shortfall, the CBN support it.
The word floating the naira doesn't mean the CBN will no longer sell dollars. It means no fixed price and no subsidy. It means sell as you buy

lexylaw40:
https://www.google.com/amp/s/punchng.com/breaking-fubara-plotting-interim-order-to-declare-rivers-assembly-illegal-apc/%3famp

stupid headline. It should be PDP faction not APC. APC is non existent in Rivers state

How can you calculate profit without deducting cost price! So you think the FG will also collect money belonging to the IOC's!

Jewessgratitud3:
This is how you know a well brought up lady.
Kudos to her.

Silentgroper.. wife material 100 yards available.

stupid story. The boyfriend gave her 250k to start a business not for hair. Rubbish

Puss360:
Lol... Wrapper is good for use at home joor... Fresh air circulation very important...

If hubby doesn't like the wrapper, then it's obvious the marriage foundation is shaking...

it's only those that are not married, the that don't know the first thing about marriage, those that have not stayed a day with a woman, that are complaining of wrapper. How can a woman be at home and be all dressed up as if she's going to a prison yard to visit a rapist! Even men will be on boxers so why can't women be on wrapper?

oga go and read and understand the meaning of the word floating the naira! Floating the does not mean the CBN will no longer sell dollars to banks and others. What it means is that demand and supply will determine the price. Unlike before when there was no dollar but the CBN will still defend the naira with borrowed dollar, this is not the case now. CBN will only sell what the have. If they sell short, those that have can bid and increase the price. That's floating the naira

The pain is very real! Just read comments, you will know them. They're ready to destroy the country just to prove a point

tollyboy5:
The funniest thing is that it's still under construction. Till they finish the blue line second phase then we'll calculate how many years it took to construct the road.

But Obi's light rail is still on the drawing board 12 years after!

AmuDimpka:
Mugu ...Lagos this and that like say Na una build am


Oya show me the one una build from Ogun, Ondo, Osun, Ekiti etc

Oga! Get sense! Nobody dey drag anything with you. If you wan carry the lagos for head, oya carry am!

AmuDimpka:
braggart

Na gala money dem use dey develop . .what did you achieve with skulling money

Mumu! Nobody dey drag anything with una! Stop this comparison rubbish! It makes no sense. We are all Nigerians and every Nigerian has the right to live anywhere he/she wants so when you think you own the SE or the yorubas own the SW , you lie. You no own shishi! Small time you go jump go thread of " hunger dey kill us".
And please note; you cannot compare lagos with any part of the SE. It's like comparing Okpoko to Awka. It makes no sense.

I don't even know who's doing competition with you guys! Oya, make una go hawk gala for anambra and Imo. Leave lagos alone

Growing:
When dollar moves from N1000 to N1100 prices will increase in the market.

Dollar moves from N1900 to N1300, PRICES ARE STILL INCREASING.

What the hell?

Because we still have so much inventories bought with the high value dollar. No one wants to loose. They will want to exhaust all the high priced goods before price will come down

Needlemover:
Imagine this fool. This propaganda filled, drugs ridden agbadorian government knows nothing other than celebrating failure. Even buhari left the dollar at 700#, but the druggie bed wetter took it to almost double the amount buhari left it at and wants us to celebrate, fiakwa

Oga! The naira before Tinubu came is like a parent bribing a teacher to help his child pass an exam. That was not the true value. It was been subsidised. Right now, the naira is walking on its two feet unaided. And we are better for it.

abdeefggh:
You want to build a new Nigeria but you can't even put that small party in order.
Its like trying to build a house without blocks or laborers, how?
Even if you are made president, are you going be everywhere and do everything yourself?



I pity the re.tards taking you serious because you are just going to waste their time and life!

This is the same way he failed woefully in anambra state but he thinks he can get it right with Nigeria. Someone that failed woefully in school cert want to graduate in a tertiary institution with first class! Funny man

socialmediaman:
The claim was that the inflow showed that the policies were working.

The thing to note here is that by this time 5 years ago, Nigeria was receiving more inflows than this under a failed government

Oga! Get this clearly! It's not about the amount but about the trend. It's now a positive slope, no more negative. That's why they say it's working

dre11:
https://dailytrust.com/disquiet-over-tinubus-appointments/

See them! They have no news to publish, they're now catching at straws. Rubbish! Appointing 5 persons you know to office now means cronyism