₦airaland Forum

grandexpress:
Libya is worse because the Western Vultures had to step in to mitigate Ghadafi's growing influence in Africa.

That is the only way out. PDP and APC are nothing but Jokers seeking for their never ending intersts.

Most Nigerians would secretly agree on revolution, putting tribal and religious sentiments aside for once

You could be right

grandstar:
And you believe theres an option other than a float? Please educate me! Buhari tried a fixed which plunged the economy into a severe recession.

Im waiting.

The best option is to spend on Infrastructure and boost local production, while reducing imports

Floating the currency would be good if other countries bought Nigerian made goods

grandexpress:
Yes I mean the electorates. I dont support any of the 2 candidates. We cant keep going to the past to look into the future.
There is no hope for Nigeria. Jerry Rawlins approach is the remedy we need.

Normally Democracy gives power to the masses, but not when the masses are majorly backwards in thinking. The enlightened few will suffer for it.

Everyday someone is using someone's body parts for rituals.... It's shameful to be Nigerian sometimes.

Its frightening what the future holds

Rising birth rates and we have the largest number of people in extreme poverty

I do fear however, the Jerry Rawlings or gadaffi approach, Libya is worse today

nextstep:
We do not need inflation; we have already experienced price doubling from 2015 till now. We do not need foreign investors who will come and take wealth. Yes, they'll bring 1 billion dollars, but then they'll repatriate 10 billion dollars in profits. I don't blame them, that's the nature of business.

What we need are Nigerian investors. We need our elites to stop being unfaithful to Nigeria.

They have money (some actually through legal means), yet choose to spend it on foreign real estate, foreign goods, and foreign services, believing that it somehow validates their existence. When all is said and done, after the flashy cars, the flights abroad, the caviar, expensive wines, and foreign hospitals, most of them end coming back to be buried 6 feet under the same ground they abandoned in their hometowns.

Elites of other countries invest in their own countries first. They encourage their young and invest in their ideas. Our elites - including Atiku from this rubbish - obviously do not believe in us.

Anybody who subscribes to the fetish of foreign investments has refused to learn the lessons of the past 100 years.

It was Japanese elites/investors who invested in Japan.
It was Korean elites/investors who invested in Korea.
It was Dubai elites/investors who invested in Dubai.
It was Chinese elites/investors who invested in China.

Yes foreign money eventually flowed to these countries, but it was the local elites who first believed in themselves, who built the environment, who built the factories, who employed their own people. Once you get to a certain stage, you can invite foreign developers on equal terms: you invest in their country, they invest in yours.

This makes a lot of sense

grandexpress:
Thank you. I love this country but it is very obvious that we will not get it right in the next 20 years.

Except the boys scouts come and do the needful.

Majority of the masses are still sub-humans at the last stage of evolving to Homo-Sapiens.

Can we wait till then?

The honest truth we are not yet ripe fir democracy. Imagine over 65% who are semi-illiterates, deluded and ethically compromised deciding our future for us.... Just think about it. Very hopeless.

By the 65% illiterates You mean the electorates right?

I understand that but I believe the current government is good enough for now, I don't support the Atiku option

A military government can be very repressive and evil also I don't know if that's the solution

I think democracy gives power to the masses..

And it breeds competition which is a good thing

WaffenSS:
If you consider what atiku said as complex, then I wonder who's really lifeless between you and PMB

Loool

bixton:
You have succeeded in saying nothing.
If you truly understand what Atiku intends doing from the post can you explain in lay man terms?

grandstar:
A floating exchange rate means your currency is determined by forces of demand and supply. Forget the big grammar it is called.

And who demands our naira ?

The currency, naira, as we have it is valued according to our foreign exchange earnings

We earn foreign exchange from crude oil sales

Do the math

grandexpress:
Why use China as an example. Dont you know that China operates a different political system from us.

Why dont you use South Korea. And how they developed their country from within. Around 1960 South Korea's GDP per income was about $100 per person. Ours was over $500, but what happened?

They invested within and empowered their youth and look at them today. They are 20 years ahead of us.

Look at USA. Did foriegn investors develop the country to become what it is? The economy was home grown, even before they were exporting their jobs to China.

Look at Israel, how many foreign investors own stakes in that country. Israel is a perfect example of home grown development.

The lazy and most ineffective way out is to make the economy condusive for foreigners to flood in. They don't bring real development for a country like Nigeria. Our people are 20 years backwards on reaserch and development, in skills and technical know how, in health care and basic civility.

The wise thing to do is to build from within. You have a people of great potential. Tap into that and make them transform the nation.

I approve of this post

Kudos

Patrioticman007:
The Devil we know is better than the angel we don't know they say. When IBB brought SAP, to our economy everything good with our economy died, because we choose an angel SAP. These Foreign Investors did not come to Nigeria from 1985 till date, what will make them during Atikulooted Regime ?. All these fake promises, has made us to be waiting for father Christmas, that we know is not working for free, for the 10% tithes is meant for the church. We need to grow our local industries by ourselves, not wait for one mumu, investors that we have used internet fraud called, Yahoo Yahoo to chase all of them away. Guy talk true, as a White man will you invest your money, in Yahoo Yahoo country ?.

Smart post

grandstar:
Nigeria's high inflation rate is caused by the Naira substitution policy which an economist Henry Boyo has wailed about and which Soludo was sabotaged from ending.

Every month, dollar revenues from crude oil are shared amongst the 3 tiers of government. This month allocation is paid to them in Naira.

So, let's say Nigeria earned $2b in December , 620b will be shared amongst them. This immediately swells up the money in circulation leading to excess money in circulation.

In order to mop up the excess money, government issues high yielding bonds to soak up the excess money.

Since Nibor rates are the basis of bank loans, lending rates are also high. Now imagine if $3b or 930b was released!. The more the earnings, the more the wahala.

Henry Boyo suggested that the 3 tiers of government be paid with dollar certificates which can be redeemed at any commercial bank.

With the policy, the excess Naira in circulation ends and dollars will begin to chase Naira.

The governors were against it when Soludo was the governor of the CBN. They didn't understand it. Note, they will be paid with dollar certificates and not actual dollars.

Also , CBN colleagues were against the idea and were now in the he position to clip his wings now that Yaradua was now in office.

Yaradua heard their cries and put a full stop to it. An edict was even introduced ensuring it is as dead as a dodo.

Is it a bad thing to have alot of naira in circulation?

olujastro:
I'm an engineer by profession but I know some political economics.
Floating simply means allowing market forces to determine the actual value of the naira.
Floating the naira now is a dangerous step to take. This will take the exchange rate to close to $1 = N1000. Inflation will definitely triple. That means a bag of rice will be 50k.

High oil price is what gives the naira value as most of our foreign earnings come from oil and gas sales.

Nigeria needs to gradually diversify its economy away from oil and reduce its imports especially on items that consume our foreign reserve the most like petroleum products, rice, wheat and steel.

In summary, produce these items locally and possibly export them (after which we can then float the naira), so that the strength of the naira can rely on other things apart from oil.

This govt has previously said it plans to float the naira by 2022 based on its target of producing those 4 items locally by then.

As an example, Egypt relies less on oil than Nigeria. They floated their currency last year and the exchange rate went from 1USD = 9 EGP to 1USD = 18 EGP. That's a 100% loss of value with its attendant inflation.

Nice post

Thanks for the breakdown

MeanChris:
See all the complex analysis Atiku is making, showing someone with a knowledge of economics.

The only thing Buhari knows and thinks is corruption this, corruption that..

Oya fight the corruption na, He's telling us that a consensus corrupt individual is responsible.

Oga Buhari is done.. he should go and rest, let capable hands handle the country.

Kai to Lifeless FC

Explain the complex economic analysis

I know you don't know

Just coz something sounds complex does not make it accurate

SternProphet:
There was flood in 2018. 50% of Nigeria's rice farms were affected. That is the only reason Nigeria will import rice in 2019. It will never get up to 2013/2014 levels.

Young PDP supporters suffering inferiority complex of being supporters of the dumbest, most wasteful and most corrupt party on the African continent should think hard and research issues before posting comments.

In fact, if you deny the act of God (floods) and sit lazily in front of smart phone denying progress made in your country, let me shock you, Benue, Plateau and Nasarawa states are voting heavily for Buhari because of Agric revolution and thousands of millionaires created. There are lies on social media but there are also practical truths.

Thanks for this insightful post bro

smirn:
My dear don't mind the fools here, they did not even read properly the topic of the post. All I can see is that the writeup is talking about probable rice importation by 2019 mentioning Nigeria due to the recent flood that devastated most of our farm land. Ignorance I know is the biggest problem of Nigerians not leadership. Too many imbeciles here on NL.

The article even stated that local rice consumption has increased by 4%

Domestic demand rose 4 percent to 6.7 million tons in the 2017-18 year that ended in May.

However they project imports will increase by 13%

The agro industry remains a top priority, food security will go a long way we should locally produce most of what we eat

DFlyest:

Double entendre

Dope

The only beneficiaries in Nigeria are the elite anyway

Multiple pages from the masses on nairaland to a useless end

Largest African economy with the lowest HDI

lawani:
People came to join the Yoruba people but there was no time the Yoruba were nomads from the inception of time to the present moment. There is no such account in our oral history or in the Ifa corpus. The Yoruba were never nomads

Hence the extraneous vocabulary in our language ?

PrecisionFx:
Oga I am not trying to convince u.

Name the Black Americans that have traced their ancestry to Yoruba or allow this matter to die.

Not trying to convince you either

Google is close to you

Use it

PrecisionFx:
Meanwhile Wikipedia is an encyclopedia that can be edited by anyone who has internet access from any part of the world n thus cannot be used as a basis for getting info on a controversial issue.

That is possible


But then why hasn't same Wikipedia page been replaced with updated and correct info, since the one that is there is false according to you?


I smell something fishy in your assertions


In the article https://en.wikipedia.org/wiki/African_Americans#Genetics

It clearly states that most blacks from the united states of America, African Americans or Black americans are mostly Yoruba descended people by genetics

If anyone can update wikipedia like you claim, why is this info still up there if it is wrong??

You have failed to convince me

The separatists are in error (Biafra et all)

The separatists should be allowed a right to self-determine, and I will support a referendum if I had the chance to vote on it, however..

Personally, I can only support the case for the Yoruba tribes in Benin (Dahomey), the Hausa tribes in Niger and the Igbo tribes in Cameroon and Equatorial Guinea to be re-integrated with their kinsmen in Nigeria

That will be the best way to correct artificial colonial boundaries.

I say this because Nigerian tribes have always had a multi-millennial history of interaction and contact; trade and albeit sometimes war..

So I at this point will want a re-unified and united Nigeria which operates on Love, Justice, Peace and Equality


1.regional governments with 1 president
2.State governors who report to this regional president
2. and a rotational sovereign prime minister who coordinates all the sub-Nations; he must come from all states of the federation, rotationally
3.and 1 parliament which the PM must partner with to make any executive decisions, budget allocation, investments and governance
4.All ministries will answer to the state governors, regional presidents and sovereign prime minister

5.The Jurisdiction enacts and improves on the Nigerian Citizenship Laws and Policies
6.The Jurisdiction enacts and improves on Corporate Law




Peace to all who may contribute to this thought

I will respect your views either way it goes, please try to abstain from negative emotional energies

Let us keep this discussion kosher

Peace

PrecisionFx:
I didnt say his father had a nigerian passport.



""Pls list black Americans who have ever announced that they traced their origin n found out that they were Yorubas?""

I am still waiting for ur list

@HORRORIZON and @PRECISIONFX

You guys seem to have a point worth considering

However, the Wikipedia page which is a summary of all the dna research work, clearly states Yoruba as the predominant DNA strain in all African descended Americans


You guys need to come up with proper research findings for me to agree completely to your assertions

MrPresident1:
The black renaissance will happen, the Dark ages will return, and this time around, it will last forever. No matter how hard they try, as no man can stop the day from breaking, or the sun from shining, so also all their works shall end in futility.

The judgment of the wicked is in the hands of the saints of God.

Peace to you my saneb

Pretty cool research. Why isn’t this front paged?

2 Reasons I will try to get a PVC and vote President Buhari

1. He never said Nigerian Youths are lazy

2. Power improvements in some parts of the country


A. Please list your states of residence
B. Has power improved post Goodluck Jonathan administration
C. Do you have a PVC
D. Who are you voting for ?




By the way, “Fulani” herdsmen menace could simply be a fallout from Barack Obama’s and NATO’s evil machinations in Libya


Peace and Tawhid

@babyhammurabi

I just watched the purported “Nigerian youths are lazy “ Video

Buhari never said Nigerians are lazy.

He only said we have a very large under-educated youth population.

Once again social media spins things to suit a sectional agenda, very dishonorable

Buhari remains my best choice for now

On the issue of the violent “herders” it could be an aftermath to obama’s Miscalculation in Libya

Peace

Muslim= belief in one God and doing good deeds

Tawhid Islam

Tawahedo Ethiopia

“ Hear oh Israel, the lord our God is one “

@babyhammurabi

haffaze777:
so u mean Jonathan was Muslim in 2011 when over 70% Yoruba vote him,this ur line is getting stale and I don't have time to be wasting on nairaland

That is true, I stand corrected

PrecisionFx:
So u could only mention one.


Nas is a Yoruba Man,He didn't need to trace his ancestry because he's father is Yoruba n his father knows that he's a Yoruba man.

Nas said his father was searching for his roots and found out his ancestors came from dahomey, present day Benin republic, from the Yoruba tribes there

Nas’ father never had a Nigerian passport if you are trying to insinuate that

If you have a follow up response which is more accurate than mine I would bow to your truth

SarkinYarki:
https://www.nairaland.com/4695404/did-know-weapon-laden-russian-ship

This is possible

Russia are also oil and energy exporters

Nigerians we need to seriously consider this threat !

mangoman00:
Igbos don't hate Yorubas even the Fulanis.They are busy trying to survive and improve their well being .From that point where u are standing now can u observer IGBOS men and women,are they lazing about .Sure no , they are busy with their endeavours.You will know if igbos hate u when u are being maltreated by follow igbo person that is when u will understand that real ibos hate injustice.

Look bro I have deep admiration for your civilization

Which was a mighty one by the way

However, I believe the pride of the Igbo man was seriously hurt due to the unfortunate fallout post Biafra

And I can put myself in your shoes (not really, but...)

I know it is only God most high that can make mutual respect and dialogue possible between my people and yours

If I was Igbo I would avoid and hate Nigerians

You are entitled to your hate however

It drives the wedge further

I remain resolute in my support to the absolute rights to pro-Biafran Aspirations from the large pro-Biafra supporters amongst the Igbo nation which is currently suppressed by the present administration, in clear violations of international human right laws of self determination as set down by the United Nations

Obalufon:
i love humanity but not devils .. You can't Romance the devil Olu you will end up in his shackles ..All your academic books is filled with hatred derogative and dehumanization of Africa as a race.. No matter how much you love the pale skinned devils you are nothing but a monkey to them .they hate blacks they don't want anything to do with blacks they are striving hard to debunk out of Africa bullshit . They came up with intelligence quotient IQ and brain research on black man and white brain just to affirm their prerogative ,racist thoughts about Africans incapability of improvement due evolutionary trap soon they will come up with enough scientific evidences biologically ,genetically to confirm blacks as a branch of archaic ape that has not evolved into a modern human ...then the whole Africa will be a great game reserve for apes just for whites amusement the same way they love seeing the Masai in jungle running after the lions and wild animals

Most Africans worship those beasts

We should be separate from those who choose destruction and ignorance

You cannot save everybody