₦airaland Forum

GerogeI:
I do not know why, but people always make the mistake of comparing currencies directly. You simply can't.

Your rent in UK might be 1000 GBPs, but you earn on average 3000 pounds per month, meaning you rent is 30% of your earning.

Back here, your average monthly rent will be N200k say you work in VI, and live in Ajah, your salary averages N500k per month, your rent is roughly 40%

Meaning, neither place is better off. The only time you gain from relocation is whatever little savings you make, and decide to invest back home. Whenever you invest back home you take advantage of a colonial economic barrier created by first would countries, through IMF manipulating our usually economic illiterate leaders into thinking there is a fair market value for paper currencies without intrinsic value.

This barrier only serves to create a filtration of best trained workforce from your country to theirs. Cheapen your raw materials, and exclude your local population from international business dominance, innovation and and new product development. You average citizen cannot even afford a local flight, talkless of your SMEs, Academics, and Youths traveling around to learn new things, attend conferences, and trade fares, or bid and compete for opportunities that will add value to your economy. Your country is essentially existing in its local bubble, and not an economic threat to the West or OECD.

So any leader, like Buhari and Tinubu, that deliberately devalues her countries currency has been grossly foolled, and has questionable intellectual capacity. You do not deal with rising forex demand by devaluation, rather by import restriction, and import substitution. You do not measure you economic progress by forex earning, but by real production in your economy.

Rather than give workers higher minimum wage, it's better to revalue your currency ( whesther by redenominating, fixing rates or gold backing) to be within same nominal value as major currencies, and ban import of anything that is being produced locally, or unnecessary luxury consumables such as branded chocolates, clothes, cookies. Focus your import on tools, Machinery and advanced technical materials that are not available locally.

The worst thing that can happen to an economy is the loss of the cream of her work force, and the isolation of her business internationally, and these are the real goals of IMF currency devaluation.

One of the best posts ever

These people have invested a lot of money in the UK for them not to say “it’s worth it”.Mostly, it’s a way to make themselves feel good psychologically.

Most of them were middle class in Nigeria before they travelled, they are mostly into care jobs now. Frustrated.

Most have suddenly aged, working multiple jobs.

Some are homeless.

Even the children they refer to are not being exposed to the best the UK has to offer. Just as we have in Nigeria, your professional associates, circle of friends, income determine your level anywhere abroad.

I met a dude who sold his house and moved to the UK. He is doing 4 hour of cleaning secondary school per day. He called me and was moved to tears.

The worst part of it is, if you move with families, whenever you want to renew or extend your visa, it costs a fortune (4000 pounds per person), and those whose kids are old enough to go to university can’t afford it as the children will pay international student fees. Their parents cannot afford it.

Most of these kids have abandoned education and doing menial jobs.

Is it still worth it? The honest response differs for individuals.

If you are thinking of Canada, that’s another place that has gone bust. Story for another day

Hezzyluv:
You mean he would be arrested too true?

It means he would be mercilessly beaten up by mobsters

In another news, overrated English team just humbled by Iceland at Wembley

US-Mexico-Canada Japa almost in the mud

Davehasmadeit:
What is Iwobi doing in this squad?

Okocha influence

ijustdey:
https://punchng.com/how-oluwo-of-iwo-was-jailed-in-the-us/?amp

Gov Adeleke that you are asking to kick Oluwo from the throne, we have not forgotten about his own "WAEC" saga.

The Governor lacks the morality to do the needful.

While we are at that - a convicted felon is about to become a president in the US.

It seems it is a global disaster now.

Must she votes or campagns for Obi or Atiku?

Respect her choice.

She has the right to vote for whoever.

Why trolling her? Bullies

Segxydube:
So why did u talk about govt intervening when u knw we run capitalism?

There are other areas NLC can intervene to improve the value of the currency.

Simple economics. Mister, simple economics will help you.

Segxydube:
Use ur brain... If govt dey control price since inception, we wont be arguing over minimum wage here

Government controlling prices in a capitalist economy will fuel black market. Price control is not suitable in capitalism.

Why are you guys so ignorant ?

NLC should say "No" to corruption in the Government, medical tourism etc

press9jatv:
no wonder your comments is worse if it all. Your oppressors are living large why you that’s defending them with your blood are been given peanuts. It’s workers right to fight for their pay. Increase the damn minimum wage. Tinubu government will only have himself to blame when things get worse in his government. Fg and State government as it stands have the capacity to pay the new minimum wage bill except we are deceiving ourselves here. Paying #60k minimum wage is the worst if it all. It can’t even buy a bag of garri

Your knowledge of economics is appaling.

Earn the 60k, you will still cry over hyper inflation.

Instead for NLC to fight against corruption and ensure they put a system in place to track it, you are fighting for increment in salary.

It is a matter of time, you are coming back here to cry

press9jatv:
As if you are not part of hyper inflated Tinubu economy. I guess you are in different planet. As if you are not going to the market the Nigeria workers are going. Keep on living in your hypocrisy. Yeyenatu 🤔🤔🤔

I am sorry, i am far away from your geographical location as at now but hoping that we will get it right.

kingsways:
Price of labor is just one of the prices of things in the economy. You can’t keep price of labor stagnant while prices of every other thing is increasing. Price of labor needs to increase with the general rate of inflation

Will it be a bad idea for NLC to put pressure on the Govt to act right in every areas. To have representatives in the administration and ensures leakages are blocked.

Why is 1000 GBP equiivalent to almost 2 million naira?

Value is stored in money , not the figure.

degenuine1:
Who is this idi*t

I am sorry, my kind is hard to find in the sea of ignoramuses, including you

press9jatv:
let it happen, we will see where it will end. As if we not in hyper inflated Tinubu economy niii. Yeyenatu 🤔🤔🤔

You are already "crying" over inflation, it will only end with more tears with no one to console you.

NLC is fighting the wrong battle.

They should have fought for something different.

Bluffly:
What is a profit making reliant organisation business in this. Overdo will kill them. Are banks collecting subventions from government.

They should fight for reduction of salaries of politicians and public office holders, price control and not increment in salary.

The more you increase salary the more you water inflation of goods and services

Exactly.

More money in the system through salary increment will lead to further uncontrollable inflation

politicoNG:
https://www.legit.ng/nigeria/1595521-nationwide-strike-nlc-forces-closure-lagos-bank-chases-customers/#:~:text=NLC%20shuts%20down%20Lagos%20bank,as%20reported%20by%20Daily%20Trust.

Chasing workers out of their offices is an offense.

NLC should start acting in a sensible manner.

kingsways:
This man stop writing nonsense.

If increase in salaries will lead to inflation, how do you expect workers to cope with the inflation that already happened due to subsidy removal

It is common sense that the price of labor should increase to match the general price increases that happened in the economy

The "general price" cannot be matched by increasing salary, it will move up by default.

Be ready to buy 1000 naira bread for 5000 naira or 10,000 naira.

It is not me, it is what economics says

nlfpmod:
https://thenationonlineng.net/rccg-suspends-city-of-davids-pastor-iluyomade/

RCCG attempted to remove him before and he said he would reveal all the secrets of the church. RCCG quickly rescinded their decision.

RCCG 1 Iluyomade 0.

Let us wait for the next move from Iluyomade.

He might even go and start his own church and take his "flocks" with him

eleniyan2020:
200k and above or nothing...

Also be ready to buy bread of 1000 naira for 10,000 naira or you feel selling price will remain the same while salary is increased?

Also, what happens to those who do not work for Government?

As much as England attempts to push Jude Bellingham in our face, Vinictius Junior is shoo in for the "Balon d Or"

Militant1:


Dont Panic, NDIC insures up to 5 million naira. Majority of depositors will get their money back.

You can’t get more than 50k

helinues:
You are not being realistic with your N474k demand. If Labour union table N100k, FG would negotiate to what they, state and Private sectors can pay

Make una be reasonable for once

Most of the states suppose to be merged with other neighbouring states as they are non productive.

They are just drains on our commonwealth.

Too much money in circulation will lead to inflation.

NLC should address how the value of our currency could be strengthened with the govt

Silly Govt, non productive civil servants.

Most of the Civil Servants are not productive. Civil service is over bloated. They are sons and daughters of politicians.

Instead for the Government to reposition the civil service in a way for them to be more productive, track performance and stop leakages from the financials, the Govt looks the other way.

The Govt looks the other way because they do not want to improve the system so that their own looting cannot be traced.

Most civil servants have travelled abroad, some are late, some of the Directors are still collecting their salaries till date.

It is a matter of time before everything goes up in smoke.

Morbeta11:
https://punchng.com/how-giving-god-n5000-brought-me-n25000-foodstuff-pastor-ibiyeomie/

So, relationship with God is now TRANSACTIONAL?

I wonder who listens to these thieves.

1Sharon:
But how are they getting away with this? Once an international student fails to attend classes, they are reported to immigration. And the hours they work with a student visa is limited. Japa via student route seems like hardwork.

They work under the table.

Also, to beat attendance, they give their mates their cards to swipe for them but the schools are becoming smarter now.

LegendHero:
You will never hear this kind of news about USA students.

UK is just another glorified 3rd world country. How student no go fit get some hustle off campus or even tuition assistance to support them? Graduate school for that matter.

No graduate assistantship, no teaching assistantship, no tuition remission, no graduate school funds, no on campus job, no off campus care or gas jobs, no eatery jobs.

So if you’re gonna depend on your parent or family in Nigeria for 2 years tuition of almost 24k pounds, then that means you’re rich in Nigeria before.

How many UK citizens even fit afford that amount out of pocket?

To add on top am, they still won’t allow you to bring dependent easily again to work and support. So why are you blasting almost 40k pounds on UK admission/processing/bank statements/housing/bills/feeding when you’ll eventually end up begging for ordinary food?

To start with, it is an ignorant statement to compare UK, which is a member of G7 ( the seven richest countries in the world), to third world countries.

Two, if students go abroad, ignoring Nigeria universities, I don’t expect the FG to help in any capacity. It’s their choices and they must be able to fund it anyway. The damage that such a capital flight caused to Nigeria economy, putting immense pressure on the Naira, could not be imagined.

We all know over 80% of the students are bogus students. They just migrate using the students route as a cover. They do not have any money saved for the purpose to pay tuition fees. Their reasoning was that they would raise the tuition fee abroad by working abroad.

The worst part of it is that , most students are paying third party to do their assignments for them. If these students write exam, most of them would fail. I assisted two friends and they graduated with distinction in tech based master courses. I warned them that it would backfire but they put pressure on me to help them so they wouldn’t fail the courses, Today, they are working in care homes because they don’t have capabilities to get a job in the tech industries. Tuition fees gone to waste.

Beverlyjean:
Show me where Trumps wife said she married a monster....oga ...u are far gone.... dem don chop u wella ...

I said "recognised", you twisted it to "said".

Not easy to have a brain running anti clockwise

@DaddyCool

You are supposedly an adult, stop lying.

I attached our trail here and you should be embarrassed.

The same path that Trump toed was what you were toeing.

I made my case in bolded and you even responded in upper case, yet you denied what you typed.

If this was a court of law, you would be a convicted felon like Trump by now

DaddyCoool:
How does that nagate that he was serial liar and his testimony possibly all lies?

I will advise you to sit this discourse out.

The subject matter is simply too logical for you.

Do not punch above your weight. It is obvious you do not know how law works.

DaddyCoool:
My friend they were playing it straight and clean, aiming to win by arguments, and probably believing how everyone was saying there was no crime.
In this type of case you don't play clean and straight. Trump knew that too but was probably distracted

Next time, apply to be Trump's attorney.

You can still overturn this with your flawed legal expertise at the appellate court.

And while you are at that, educate yourself about the jury selection process in the US.

ogmask:
That in its own is debatable , however, trump did nothing wrong in the real sense. They were out for him from the word go. Hilary and even Bill did worse.

Are you saying:

1. Trump did not make payment to Stormy Daniel to suppress the story getting out?

2. Are you claiming Trump did not direct Cohen to pay Stormy Daniel on hiis behalf?

3. Are you saying Trump was unaware of the payment made to Stormy Daniel?

4. Are you saying Trump did not sign all the cheques for Cohen's reimbursements?

This is a white collar crime - the paper and audio trail are out there for people to see