₦airaland Forum

Winneepye:
Deceiving his obirodents. How do you move from consumption to production without first investing, where is the technical know how, where are the machineries, where is the electricity, how do to you compete with advanced nations with our current high cost of production. How do you import at a high price without first stabilising the Naira.
If you think trying to increase our income by first bringing back our refinery wooing investors is wrong then consumption to production does not happen by just saying it.

How I wish this guy rule, even if it is for one year for all to see how empty he is. Any politicians that doesn't put Nigeria factor into consideration before talking is not worth to be taking serious.

Dollar is heading towards abysmal level, this one is talking about consumption to production as if that could happen within a year. You don't talk about electricity, modern rail system, and infrastructure, which takes few years under a serious government to materialise but keep shouting consumption to production up and down. To even think that the man did not own a single factory where he produce anything is a great absurdity to rational minds.

I will chose Prof. C. Soludo and Umuahi over this empty guy a million times.

PARADIZEPRIEST:
BDC IS A MONUMENTAL FRAUD.
MOSTLY ILLICIT PEOPLE PATRONIZE BDC TO HIDE THEIR EVIL AND FRAUD MONEY.
LET BANKs HANDLE ALL CURRENCIES,THAT IS THEIR JOB.

Banks are the biggest fraud compare to BDC. What stopping CBN from making Dollar exchange service only through banks?

Don't blame the innocent BDC guys, blame your unfortunate politicians, CBN and commercial banks.

There is nothing like Tinubu vs North, it is just Internet things being perpetrated by political novices.

As it is stand today, Tinubu is the only southern politicians that is very close to them, who they can trust that he would pay back their loyalty the same way. Let him focus on how to get out of this mess of an economy before we talk about 2027. There is too much suffering in Nigeria, and something must be done quickly to alleviate the pain.

malali:
Cheaper Exports: When the Naira is devalued, it becomes less valuable compared to other currencies. This makes Nigerian products cheaper for people in other countries. Think of it like selling your cool toy cars to friends abroad at a lower price. More exports mean more money flowing into Nigeria!

Expensive Imports: On the flip side, devaluation makes foreign toys (imports) more expensive for you. Imagine your favorite video games suddenly costing more because they’re imported. This encourages people to buy local toys instead.

Boosting Local Industries: When local toys (goods and services) become cheaper for foreigners, it helps Nigerian businesses grow. They can sell more, hire more people, and contribute to the economy.

Tourism Advantage: Devaluation makes Nigeria an attractive travel destination. Foreign tourists find it cheaper to visit, explore, and spend money here. Imagine more tourists enjoying Nigerian culture, food, and music!

Investment Inflow: Investors like to put their money where it grows. Devaluation encourages foreign investors to set up factories, offices, and businesses in Nigeria. This creates jobs and stimulates economic growth.

Balance of Payments: Devaluation can improve Nigeria’s balance of payments. It’s like keeping track of how much money comes in (exports, investments) versus how much goes out (imports, debt payments). A positive balance is good!

Inflation: Devaluation can lead to higher prices for everyday items (inflation). Imagine your pocket money buying fewer candies because prices went up. But controlled inflation can be healthy for the economy.

Reducing Debt Burden: Nigeria owes money to other countries (national debt). Devaluation makes it easier to repay those loans because the Naira is worth less. It’s like paying back a smaller amount.

Competitiveness: Devaluation makes Nigerian businesses compete better globally. Just like you try to win in video game tournaments, our economy competes with other countries. A cheaper Naira gives us an edge!

Learning Opportunity: Finally, understanding devaluation teaches us about economics. It’s like leveling up in your favorite game. By knowing how money works, we can make smarter decisions for Nigeria’s future!

Out of all the points highlighted above, only one (inflation) can notify the others and make them useless.

Inflation can cripple the economy in no time. It can reduce purchasing power and push alot into abject poverty. Inflation is deadlier than other points you highlighted in your post. The purpose of government is to ensure a good standard of living for her citizens and not to please foreigners.

The best approach would've be to eradicate BDC by creating Dollar to Naira App for registered importers and those that genuinely needs international transactions. Physical dollar trading by BDC must be stopped to stabilise the naira. Place monthly heavy charges on all domiciliary accounts to discourage savings in dollars. Floating or devaluation won't solve anything as long as we still have people that trade currency like commodity.

Acidosis:
Typical selfish nigga. How many people in your village can afford solar? As long as you can "move ahead", you don't care how the rest of the population survive?

The same mentality of an average Nigerian and our leaders. There are millions of his likes in Nigeria, if someone don't care or feel for those around him as ordinary citizen, don't expect him to care of masses when he attain power.

Why would your leaders bothered when they can easily enjoy 24 hours light in their homes and offices. The biggest problem of Nigeria are Nigerians.

abhosts:
Now you can see that the political class are the ones killing the value of the Naira. Businesses are cutting back on their imports due to weak demand but Naira keeps falling because of wicked politicians.

I've been saing this for over a year on Nairaland, current dollar exchange rate to naira is not a reflection of our economy but result of saboteurs. Dollar shouldn't have more that 550 to naira but politicians and other wealthy people keep buying and save in dollars. Those in government are the real problem of this country, they pretend they care but actually the part of this problem.

The last paragraph of this man submission is what a sain and ready government should have done to save the economy but they will not because they are also using this BDC to steal from public fund. Let Nigerians be able to send naira through their bank accounts to anywhere in the world.

immortalcrown:
If you have a problem with such a statement from your friends, you consciously keep bad friends. Your ill feeling here means a guilty conscience in action.

If your conscience is clear on the kind of friends you keep, you will rather feel good when your friends compliment your partner's beauty. As a matter of fact, good friends will not say such a thing in your presence or in the presence of your partner unless a serious (necessary) conversation about the partner's appearance comes up.

"Man, know thyself."

Although many of us think there are good and bad friends but in a real sense , it is all about interests and choice. What you call a bad friend is someone good friend and vise visa.

Never trust any human in life because our minds are subject to change and reaction. What I have realise so far in life is that, wicked people are mostly pretenders. Those who say something as they see it are mostly honest with principle.

How did he gain access to your parents bedroom?

He probably don't see anything wrong there as long as it is a normal bed, you are the one at fault not him. Next time, lock your parents bedroom or warn everyone not to go there.

Ireportlive:
You are still young, just look at your moniker sef, you are not worth arguing with Mr bigdick

He is telling you an obvious truth, no age limit for a man who truly like sex. Try going out more and see older people carrying fresh young girls up and down.

Except you are deceiving yourself, you can't be a good friend to an opposite sex withiout setting a strict boundaries, and it becomes impossible if the person has a jealous partner. No sain man or woman will allow too much closeness of opposite sex to their partner, even if they are doing business together.

Unless policy, what is the need for this if you can't still convert your Dollar to naira and vise visa at official rate.

NGN/USD is still exchange at black market rate on all exchanges all over the world, and this one too won't be different.

Notfogotten:
Please I have a question to ask.

I don't want to go into details so my partner doesn't trace this to me.

My partner came to UK before me, though still on student visa. I joined her with my 3 children one months ago.

I have noticed some red flags which never happened while we where in Nigeria and I was footing the bills alone.

Each red flag, I pretend nothing happened because I don't want to be thrown out like the man I read about on social media.

My visa is dependent on hers and we are still on student visa.

My question, in the event that we get papers to stay permanently in UK and one day she decides to send me packing or I decide move out, will I be asked to return to Nigeria because she is the main applicant?

Please I need urgent answers. I may not play the fool for long. We are very certain of getting papers next year.

Is your wife in medical profession that you have to allow her to be the main applicant?

In whatever you do, never allow women to have upper hands in marriage, they will use it against you in a twinkle of eyes to achieve their selfish interests.

Peter532:
I don't know if I should be angry or just smile and take it as it is. This is someone that I fed, I clothed despite us being closed friends since we were kids. He knows everything about me that my parents don't even know till dates..We could go to a gathering together and I will be the one ordering and paying for everything we bought even recently because I always acted like the big bro and he accepted I guess .. Just last week I saw it on his status about is house opening invite. I later got a dm from him that same evening telling me about it that I should come through.

It came as a surprise I admit, even though I know he was doing quite well for himself. I know some will call it entitlement mentality but since I considered we were close like a brother we even ate from same plate last 2weeks, I thought I should have known atleast.

Note: I noticed so many people will come in here to call me names, even some accusing me to be someone with bad motives and sort I smile. Not everyone has a evil mindset like you or some persons you know, It's just that when you expect so much from people you hold very close to your heart you might get disappointed and it hurts badly.

Especially when you know you can't do that same thing to that person. I only brought it out here because I wanted to know maybe I'm overreacting because I feel a deep level of betrayal but hey I am happy for him and I will attend the house opening tomorrow.

File Photo for Illustration

Since you call him a close friend and even ate together just 2 weeks ago, I will advise you to be very careful with him. Such person can see a good opportunity or death and not inform you. Building is a project, there no reason you should keep it a secret to someone you often do something together with.

He intentionally kept it a secret, so that he can continue to enjoy your generosity.

Workch:
No, Ibadan is not that larger.

Only Lagos and Kano are bigger than Ibadan city.

Verbtips:
goverment is accountability
what shall be done to buhari
nigeria politics na chop i chop
and hospital for the sick
if say ex cbn mind e biz and no think to contest for prezo
shey you think say all dis go hapun?

His sins are numerous, aside the fact that he oversaw what you should be called a worse economy in the history of Nigeria, he also added salt to the wound by wanting to contest for president while still in service.

The king of them all was Naira redesigned policy, which kill many and almost cost the current government the victory. We all know the fight against corruption is partial and only base on favourism in Nigeria democratic setting, but if you can study the event that led to recent general election very well, you will discover that this particular person " Emefiele " has stepped on a sleeping viper, and could be fatally bites.

If I was in the same shoe with Tinubu, I will do the same.

Lolz, wasted effort, he should have rather done that in pigin because an average Igbo kid don't like speaking their language, let alone reading it in textbook.

Igbos, especially those living outside South East should try to preserve their language by speaking it to their children.

DesChyko:
Calling a dog a bad name just to kill it. The same cash scarcity Emefiele was hung for is around again when we have both old and new notes in circulation, the drumbeat has changed.

I'm tired of the inherent Nigerian politics. I am tired of the average Nigerian politician and their antics. I am desperate for a New Nigeria that works, devoid of these bandwagon politicians.

Cash is everywhere please, ATM machines are always loaded, POS agents are not lacking cash, people spend cash withiout seizing. So I don't know why they keep saying there is scarcity of naira, perhaps there are some parts of country that is experiencing this.

Emefiele is evil, anyone defending him for whatever reason is part of reason this country is lagging behind.

NaijaCowFarm:
You guys should keep deceiving yourselves. Did Emefiele open any account in the name of GODWIN EMEFIELE?
Did he collect interest in any account in his name or did he hedge against currency depreciation?

Stop defending a criminal please, this man has committed a serious crime against the federal Republic of Nigeria, and you should be put behind bar for a long period of time.

Curse777:




Only men without principle think betrayal is virtue

Loyalty is key to greatness

One day Fabura would look back and see those pushing him as real enemies who won't help him




.

Exactly my problem with this man. Why fighting your political mentor in less than 3 months in office. That is high level of betrayal.

[right][/right]

tiswell:
Kindly work on your use of English,baba.

Kindly correct or point out the mistake in my post.

Thank.

Asari Dokubo is only being bitter.

He only supported Tinubu because of pipe line surveillance contract previously giving to Tompolo. He became presidency enemy the moment he realised Asiwaju was not ready to terminate Tompolo contract and awarded it to him.

Greed is the major problem of gamblers. Bet companies are not father Christmas too, they are out there to make money on gullible people. Wise people don't gamble with their money, it is only the ignorant ones with quick money syndrome that does.

BluntCrazeMan:
Only power right??

Ok..
Tinubu will do that soon

The influence of power on economy is too great that it could revive the other sectors in a blink of eyes.

Industrialisation is the back bones of any developed economy, and you can't achieve that withiout solving power problem. Insecurity and religions crisis are result of poverty and joblessness. Let fix power first, and see where to touch next.

Incessant increment of wage/salary is worst thing you can do to your economy. I was alive when #1 could comfortably feed you, but today, you can't even feed yourself comfortably with 1k.

This country need to be rule once again by colonial masters, perhaps we can all learn how humans ought to be functioning in modern society.

BluntCrazeMan:
Preamble:
During the 2023 campaign period, part of the things which Peter-Obi promised that he would do in order to increase the “productivity” of the government workers was to phase-out the “Monthly Salary” system, and introduce an “Hourly-Pay” system, where the hours of work by the workers are calculated and paid at the end of the agreed periods of payment.

He promised that there would also be flexibility of how the workers chose to be paid...
Either Weekly, Biweekly, or Monthly.

He envisaged that this system would make workers to have control over their works by knowing exactly what they are supposed to do, and do it.. Then they can clock-out at the first job in order to go to the next job where their expertise are also needed and clock-in.

There won't be any fear of paying double salary to anyone who works at more than one place at a time.


Basic “Hourly Pay Rates” are calculated and paid for 8 hours per day.
They are the payments which are taxed by the Government.
(Any other extra hours above the maximum 8-hours are counted separately and paid as overtime, with some additional added percentages to it)

Then, 5 days per week. (That is, the weekdays).
Works that were done on the weekdays are the ones that were taxed by the Government.
(For someone who had worked completely for 5 days in any week, any other extra days above the maximum 5-days are counted separately and paid as overtime, with some additional percentages to it. Nevertheless, if the person didn't work completely for 5 days within the weekdays, and he hoped to cover-up the days of work within the weekend, he doesn't get an overtime on the number of weekend days of work which are below 5 days in a week,, but those works which he did on the weekends would not be taxed)

Then, for those that are paid monthly, Each month consists of 4-weeks..
Thus, actually making it 13-months in a year..
(And not the 12 months we used to know)

..
NOW, TO THE MAIN REASON FOR OPENING THIS THREAD:

The current minimum basic monthly pay in Nigeria is N30,000..
Which translates to N187.50 for each hour of work,, or N1,500 for each day at work, and N7,500 for each week.

The current minimum basic hourly pay rate in the United Kingdom (both for Government Workers and Private Workers) is £10 (ten-pounds)..
Which is about N11,000 in Nigeria - going by the CBN’s official rate for conversion..

I am not advocating for Nigerians to be paid up to N11,000 per hour of work in Nigeria.. To be frank, that amount is too high for the Nigerian economy to carey.. but at-least, something reasonable enough which our economy can actually carry at the moment.

LET US JUST SUGGEST WHAT WE THINK IS FEASIBLE AND OBTAINABLE..

What amount (in Naira) should be the “Minimum Basic Hourly Pay Rate” for the Nigerian Workers,, Both the Workers in the Government Establishments and those in Private Firms, including those who are employed by individual employers.

....
..
My own personal Opinion...
I am suggesting any amount between N1,500 and N2,000... (Per Hour Ooo.. Not Per Day)
It is still too small compared to other countries, but it is actually what the economy can actually sustain for now, and at the same time, bring out the very best outputs in the workers..

(To put it into the contest we can understand:
N1,500 per hour means:
N12,000 per day.
N60,000 per week.
And N240,000 per month..
...
.
N2,000 per hour means:
N16,000 per day.
N80,000 per week.
And N320,000 per month..)


NOW, YOU CAN SUGGEST YOURS...

That is why we may continue to be poor in this part of the world. Nigerians are truly educated illiterates. This is the same approach being use by our half baked leaders since after civil war in 1970.

We don't need any increment of wage or salary but strong economy that will translate to strong naira. Have you ever ask yourself why £10 is big enough for an hour wage in UK, but amount to nothing in Nigeria?


The #2000 per hour you advocate today will definitely become worthless within 6 months, so what is the point of increasing it in the first place.

Nigeria need to fix her power sector to witness a prosperous economy. If we can get 24 hour uninterrupted power supply, our problem is half solved.

Greatzeus:
It will only be visited by the poor and average earners. Rich folks don't like free things, while the poor love free things.
A well to do person won't enjoy the beer,it goes against his ego,of not sharing anything of the same worth with people of lower classes.

Every human love free things, the different is the ability to purchase the same item. Being rich is relative, someone you see as rich will also struggle to have what he/her cannot afford for free. No one is truly rich or poor in the real sense of nature.

The moral of this post is that, never condemn the way of poor, for they did not love or preferred their ways or situations as well.

vazsily:
Them say who dey ask questions no dey miss road. Although with the Internet crazy people are bound so I am circumspect.

I have been married over 15 years and in that time I have always complained about the way my wife over cooks and then start looking for who to share the food with in the name of giving alms. You would think having managed kitchen and home for that long, food measurement should come naturally.

I have not taking much interest until with the recent inflation and high cost of goods in the market. And why I struggle with the Grace of God to earn a living, madam on the other hand thinks going to the market regularly and living above my salary na achievement without any adjustment. The matter don tire me, I want to simply pick my bags and run but for the kids.

Responsibility is a choice but I think she's abusing it. Giving to the poor comes naturally for me but you must be wise about it. How do i resolve this?

There is one project or something she must have tell you to do or buy, so tell her that with the current situation of the country, you need to minimise cost of living in order to achieve that. If she is a woman that really means well for her family, she will adjust withiout being forced.

If the above doesn't work, pretend to be broke for awhile and be serious with it. Don't say you want to pity your children, let them go hungry as well, then after 2 days, tell her you borrow money from your friend. By the time these children embarrass her in the present of those she gave free food to, she will adjust next time you stock your home.

Fountainofyouth:
I have friends I send my pictures to so nothing wrong with that

I work with fg, and there are so many married men that have tried and still trying to get me to no avail, the ones I've told off still won't listen so most times I ignore them when I'm tired of shouting

For Op, the wife obviously likes the man that's why she replied that way, that doesn't mean they've had sèx or something is going on, highest Op can do is warn her or get his number and warn the man off his wife, simple.

I got your point, but as a married woman, it is not morally sounds to send your pictures to any other man for no concrete reasons, please stop it.

As for your colleagues who are interested in you, you just have to draw a strict boundaries with them to avoid a situation like this. If blocking them will solve the problem, please do and let their madness be only at office.

As for OP wife, she is an adulterous woman as you said by yourself that she might really like the guy. A good or innocent woman would've warned him and block his number straight away.

What I have realise so far as a man in corporate world is that, nice women are usually adulterous women. You may not want to accept this but that is the reality of dating world. A nice woman has tendency of falling victim of adultery she never plan for. Men of these days don't send if you are married or not, it is your strict or no nonsense nature that will give you the kind of respect you needed from them as a married woman.

Fountainofyouth:
Op is funny,

If your wife is cheating, she will never ever talk about the man she's cheating with all the time, you won't even know he exists, so stop with the unnecessary assumption.

Can you as a married woman take your selfie and send it to random men in the name of colleague? Can your colleague tell you to come and make babies(which mean have sex) withiout getting insult of his life and immediately get blocked?

Though I don't like football awards because it is a game of teams but base on their performances and title winning, Osimhen should have it 100%.

DKM123:
This is good news!! We are 100million light years away from these progressive countries and it keeps getting worse.




Actually, there brain is not special, they just have a better enabling environment to thrive. That's why Nigerians who go there in educational pursuit also thrive even though they mostly go at adulthood and don't have a good head start..

If we had good leaders in Nigerian who allowed our educational system blossom instead of continuously stifling it, this people will not see our back because we Nigerians are hardworking and determined and that's why you will see even secondary school students studying all night.

Yes their cell brains are not different but they have better thinking faculty than us. Enabling environment don't just fall from heaven but products of selfless philosophers starting from socrates. While these philosophers were busy questioning the primitive way of living and re-integrated it into well structured modern societies., your African brothers were busy enslaving themselves, keeping all public resources to themselves and their families.

The reality is that, Africa culture breed greed and self ego, couple with individualistic approach to life. The simple difference between the white and black race is that, the former sees their societies as bedrock for development, while the later are ignorantly sees their households as one.

With this culture that promote greed and personal aggrandizement, black race will remain the same till the end of the time.

Contentment bring peace and desire life. Greed is the bedrock of unfulfilled life and unhappiness.