₦airaland Forum

Somebody is making waves and pursuing her dreams without insulting anybody or stepping on toes... yet some people remain irrationally jealous and shady.

kimbraa:
This man is old na! The lady could be his daughter's mate, what is he marring for again?. I'm sure he won't even last up to a minute at his age.

Hate to say it, but the guy is looking for a helper in his old age that will take care of him as nature takes its course. He can still father children to brighten his life. It's also a fact that old bachelors in Nigeria never live long as they don't have somebody that cares for them, nor do they have somebody to care for - loneliness is a major cause of early death in older bachelors/widowers.

This is apart from the fresh palm wine he can have access to

Chioma, if you're wise, you'll be saving some of that money that David is giving you... if you're careful with it, you can start a boutique or some other lucrative business. Everyday no be Christmas...

grandstar:
I disagree that once power is constant and plentiful, things will sort themselves out.

The biggest drawback facing the Nigerian economy is the extremely high cost of credit. The real sector of the economy such as factories and real estate will continue to underperform. Lending rates of double digits has limited the economy for decades. I am sure if cost of credit was between 5-9% over the past 30years, it would have easily added an extra 2% to the economic growth yearly.

An extra 2% would have a transformative change to the country putting the country firmly the middle income status. Per capita income would be between $5,000 - $7,000 rather than the poor $2,000 the nation has today

Thank you for your insightful reply. You are absolutely right that the high cost of credit is holding the nation back, and I think government has a role to play in underwriting/guaranteeing lower interest rates for certain sectors of the economy, particularly heavy- (and light-) industry. I too have struggled with trying to work within a system where the credit rate is on average more than 20%.

That said, the two underlying factors that determine credit rates are inflation, and ease of doing business.

First, the fiscal environment changes from month-to-month (based more on government whims than actual economic theory) that it's hard for a bank to give out loans at (for instance) 9% this year, just to see the real value of their money erode within 1 or two years, during the term of the loan. Not only does the Naira change value wildly (compared to the currencies we exchange to buy industrial and consumer products with), but domestic inflation varies from 14-19% (NBS statistics). At the very least, loan interest rates have to beat inflation and the swinging Naira - hence the double-digit rates we've been experiencing. No bank is going to offer anything below 20% because they are guaranteed to lose; even if they were favourably disposed to losing money, they'd be out of business fast. Note: when inflation was high in the US and UK in the 70's and 80's, interests rates also approached usury; there's nothing a bank can do about that (and frankly it's not their role to regulate inflation)

Second, there's quite a lot of friction and uncertainty in the market: one month you can buy petrol under #100, another it's #150 - that is if you can find it. One day you can import plastic parts for #30,000 per kg, next month you need #45,000 for the same - that is if the gov't doesn't ban what you were importing or restrict your access to foreign exchange - often without warning and contracts have been signed. There's no guarantee that you'll have enough energy to produce - or fuel to transport - your products, that is if the roads are good to where you are. All these sources of friction have to be taken into account, and they result in higher costs/interest rates for everybody in the value chain.

There are many people who started making things in Nigeria, but because of the power situation (erratic supply, gen, erratic fuel, etc), found it hard to compete with manufacturers where power is plentiful and cheap, just on cost alone. It made more sense to import; and because we import so much (and export practically only oil), our economy is unable to withstand any shock, adding to the friction above. The effects are also felt in storing perishable goods, education, hospitals, general well-being. We are forced to waste so much time and energy procuring power - buying a gen, maintaining it, scouring and queuing for petrol, causing downtimes for all kinds of businesses, which leads to the inflation being high. Manufacturers/sellers/transporters all have to add this friction into their own margins, so guess what - prices get higher. And this is a vicious cycle: if petrol/energy costs more this year, then I need to charge more for what I'm making, whether it's food, medicine, or even my fee for engineering consulting. Even brooms will cost more because the seller needs to pay for more-expensive food and medicines.

In summary, if power is regular, relatively cheap, and plentiful, the cost of business will come down, a lot of the frictions and uncertainties will reduce, and as a result year-on-year inflation will also decrease. Banks will try to outdo each other in reducing rates in order to sell loan products (just as the telecoms outdid themselves to lower prices in the past decade). Government can do a lot to hasten the drop in rates/inflation, but by just making power plentiful, they would give the economy a huge boost.

Forget all these fancy numbers and acronyms; they only need to focus on one thing: constant and sufficient power. Most other things will sort themselves out. And for those swindled by the increased budget allocation, the actual dollar amount hasn't changed. Naira value has nearly halved since 2015, yet the things are going to be paid for in dollars, so we're basically at a standstill in terms of "REAL MONEY", if not going back.

zionmade1:
no matter how confused and hypocritical Christians are they will never practice or become as wicked and heartlessly cruel as most Muslims. All the evil, bombing, kidnap, killings terrorism all have one name in common. Islaam. Wen ur bloody president and his paid terrorists are ready they should release her. afteral the work of allah must be accomplished by all means

Islamic terrorists worldwide are just late to the party begun by the Christian West. Abi what do you call slavery, colonialism, genocide, punitive expeditions, assassinations, supremacism, racism, murders, rapes, and all those wonderful things done in their own quest for pushing their own agenda around the world? Of course, it was their right as ordained by their own religion to subjugate the world.

It's only after the West almost wiped itself off the planet in two world wars that they started calming down. But at least, they didn't allow religion to cloud the pursuit of development, unlike these modern fundamentalists who want to take us back to the Stone Age.

elgramz:
After they have messed up his name in public and caused his suspension by the NJC. If I'm him, I will sue the FG for one billion naira for destroying my hard earned personality of integrity after many years of service at the bench.

Note that he was not declared innocent, just that the FG had not followed the correct procedure:

"Justice Tsoho, whose ruling was anchored on an earlier judgment of the Court of Appeal, held that the pre-conditions for instituting charges against a judicial officer were not met before charging Justice Ngwuta."

OneCorner:
all diz afonjas are too weak... come to aba, we would have burned the car. no time

And the burned car would still block the street ba? Not to mention nobody can use the already skinny road with a blazing fire on it for a few hours, including possible explosions from gas in the tank. Not to mention the owner would have lost his means of income...

Welcome back ladies. I'm glad they returned safely...

So nobody can find some Shea butter for these bright dry faces?

Follygunners:
Chai.. Just imagine. See how Assembly plant look like Auto-Parts/Mechanic village for Owode-Onirin and Lawanson...

No be by force to assemble Chinese made parts for 9ja na... How many of dem dem dey drive the Chinese made cars sef?

See how dem dey beg Lala to push am to front page.. Chai

1. Automakers assemble parts made by their subcontractors. Neither Toyota nor Ford make airbags, windows, motors, lcds, fuel tank, catalytic converter, steel wheels, or even rubber tires, and so on. They have an integral role in the design, fit, and connection, but all those components are made by third parties. You might be right to say that we don't make these parts in Nigeria, but even so there are some small parts here and there being manufactured in Anambra/Enugu/Imo. Innoson themselves make a great number of the plastic parts like fender and fan blades.

2. There are basically two things most automakers actually manufacture: the engine block (not even the pistons or gaskets), and the A-frame.

3. China started by assembling pieces and parts made elsewhere, and have moved up the value chain. As did Korea, and many others. It's not hard to see a Nigerian company springing up to produce one small component, and another, and another. It may be slow, but the alternative - no assembly at all - means we would never move up the value chain.

Abuja ke? What are these rankers drinking? Even Lagos. Sure there are some bad patches here and there (especially Lagos due to inadequate infrastructure), but for the most part these two cities are very livable and enjoyable.

Funny to see people entering a thread to complain about the topic, or the person, or the fact it's on FP. Yet they are the same ones that clicked to open the thread; then they make extra effort to "reply, comment, submit", thus making the thread more popular. What gives?

Quick and safe recovery to the victim.

That said, why do they always pick on okada and keke riders? As if crimes are not also committed by taxi drivers, bus drivers, regular car owners/drivers, and pedestrians? Don't these criminals even steal bikes, kekes, and cars, then carry out heinous crimes with stolen vehicles?

And of what use is the meeting and warning? As if criminals will listen. The ones who are law-abiding don't need to attend the lecture, and the outlaws will not listen to the lecture. You want to ban a good source of livelihood, in order to increase deperation? Please stop this grandstanding and just take steps to improve employment and reduce insecurity in your state.

Kidnappers and robbers are criminals, yes.
But to include prostitutes? I don't think that's right... have they harmed, killed, or skull-mined anybody?

uvie66:
This taxi drivers should be overcautious, why pick up two men at that time of the hour.

It won't make things safer: a lady requests a ride, asks to drive to a desolate location. She pretends she needs to toilet or vomit, car stops, and hoodlums jump the driver. If criminals want to commit a crime, there are many ways to do so.

MissKerebete:
This is very crazy. Uber and Taxify need to do something about this!

Say what? What can these companies do really? Is it them that released muderous convicts after 4 months behind bars (from the article)? Is it them that created an environment where the people are hungry and resort to murder? The only thing one might want the companies to do is to install dashboard cameras that upload soon after a new client enters the car (there's no sense in recording on a phone that will be stolen along with the car).

Why could they not just tie up the driver and abscond with the car? Why kill (or plan to kill)?

At least we're grateful for police this once, for preventing a murder. They probably still got some money from the driver.

The simple truth is this: yes, Nigeria is tough - hellish some would say - but there are many people here living very good lives here, actually LIVING. When I see people come home from Western countries, it's like they are not alive. They may be comfortable, but they are in the same cycle of work, tax, debt, work, tax, debt with little chance to really LIVE. They may come and do shakara during Christmas, but at the end of the day, it's money they will spend the next 1 year paying off, with interest.

There are some who manage to break the cycle, perhaps investing back home or building a house, but from my understanding it's quite a soul-less and isolating existence.

Those who go abroad usually have gathered nearly 2million Naira for ticket, visa, living expenses. Just to go and drive taxi or be a nurse? That same 2million has launched many people out of poverty in this "sh1thole". Material wealth and comfort does not mean you're LIVING... I would like to be able to visit there frequently like some people I know, but not really reside.

I just wish we would see the incredible opportunities that foreigners are coming to find here...

buhariguy:
Idiotic pigs of Biafra will be insulting buhari for keeping to his promise, just because they were disappointed that dullard lanking old man defeated their PhD corruption ineffectual buffoon.

Listen, the people making noise are not the leadership. If it was only the corrupt leaders complaining, then I'd understand.

But the hardship we're facing - what does that have to do with fighting corruption? Rampage of herdsmen, prices doubling, fuel scarcity, increased insecurity, insubordination in his cabinet, appointing old cargo with nothing to offer the country, divisive environment, nepotism, arrogance, callousness, government's uncaring stance for the masses, and so much more.

Every single person is complaining about the hardship during this regime. His campaign promises included: improved security of life and property, consistent light, lower prices and availability of fuel, projects completion, etc. Even the corruption he is reportedly fighting is not really yielding results, even though there are many headlines about money being found - but no headlines about the money being secured, returned, and deployed to help the situation. It's fair to say none of his campaign promises - not one - has been fulfilled to completion, including the "easy" defeat of BH, the "easy" $1 = #1, the "easy" consistency of light, or even the body language of stopping corruption. Ironically, he appears to turn a blind eye to corrupt practices by those close to him.

Presidents come and go, politicians change parties, yet it's the masses that remain hungry - no matter where the president is from. After all the leaders we've had over the years, even the most ardent fan would have to agree that Buhari ranks lower on the list in terms of vision, execution, inclusivity, or nation-building.

Compare Buhari to some of the more visionary leaders we've had. Everybody has their faults, from Balewa to Muritala to Obasanjo to Yaradua to Jonathan, and many others in between, but I'm currently hard-pressed to say: "yes, at least Buhari accomplished this and made Nigeria better".

Sentiments and hypocrisy apart, this is an invasion of privacy, and the boyfriend should be reprimanded. The video features two consenting adults, without coercion, and was released without permission. It's this invasion of privacy we should be focused on, please.

That said, the simple rule of leaked videos is: if you don't want it posted, don't record it.

Sentiments and hypocrisy apart, this is an invasion of privacy, and the boyfriend should be reprimanded. The video features two consenting adults, without coercion, and was released without permission. It's this invasion of privacy we should be focused on, please.

Deserves protection because he's a tax payer? Hear him talk!!

My dear Senator, we are all taxpayers, yet we get preyed on by robbers, police, officials at various levels, our President's people, various gangs, and even our pastors. As a representative, you deserve the same treatment we get, without police protection.

kapelvej:
FTC for albino matter . this is a good gesture anyway, but the should have not segregated them, they should have allowed them to contest with ever other person

There is a time for that, but this is a contest to highlight the situation/achievements of Albinos, just as there are contests for weightlifters, actors, actresses (two categories), singers, women, disabled athletes, and so on. As things stand now, the chances of an Albino even qualifying to compete in a general pageant are very very slim, but things like these create awareness.

hmm

Xisnin:
The behaviour starts at the bottom!

You're right actually... it's sad that even from the bottom, we treat each other so callously...

QueenSuccubus:

She shud step her game up ..I will send her some hybrid bitter gourd

Locally grown..At least with its unique shapes she will enjoy to the fullest & after she can make a soup

At that stage, I don't know if it's pleasure or torture ... or both

All because of pride, a man is dead and girl is injured untreated. RIP Ibrahim Ali Mbaba... we never know when our time will come or how.

Unfortunately, SARS operatives (and police in general) treat citizens with such impunity - but that's exactly how our leaders treat us. The behavior starts at the top, and we need to hold them accountable for their actions.

His future is secured... unless you have built your own assets, you are one bad argument away from being thrown out. So when he gives you money to go shopping, don't spend it all on dresses and weave on... save most of it until you can quietly buy yourself some land someplace. Just sayin'

chicoMX:
I think there should be some criteria that guide the issuance of the said card.
For instance, students must present documents like:
1, Previous academic records. (Student with terrible records may not be eligible)

2.State of origin/LGA

3. Guarantor or so.

If any student fail to meet up with their end of the agreement, writing to their school should be the way out.

None of the criteria above can predict likelihood of paying back the debts.

I understand the OP's questioning, but Nigeria is a free market economy, so it's up to banks to decide what they want to issue, and to whom. Access Bank has made the (presumably informed) decision that a student credit card would generate more profits than SME loans. Plus once hooked into accounts and credit cards with Access Bank, they are more likely to also get their car, mortgage, and even business loans from Access when they start working.

Banks are not investors. It's not their role to lend or give money to business ventures on the promise that the business may succeed or grow. That's the role of venture capitalists, angel investors, the rich uncle, personal saving, or family donation. On the other hand, banks do lend a lot of money to companies large and small, that have demonstrated positive cash flow over some years and the ability to pay back.

Government's role is to make sure people don't get unduly hurt (e.g. set limits for punitive terms of credit, and ensure that lending contracts are fully disclosed and transparent).

Now if Government was really serious about SMEs, there would be a large fund of grants and low-interest government-backed loans that would ease the bankers' concerns about getting their money back. Rather than the Speaker of the House raising a microphone to bleat about how banks should run their own business, he and his colleagues should really study what sensible countries have done to stimulate their SME sector.

mamdanju:
This is a 50 billion Naira investment. The largest so far in the country. Well done Baba Buhari sai 2023

So, all of you praising FG for investment they did not make, will you also praise your LGA chairman for a house you built with your own money?

To what? Hope they did not just increase the relief percentage from 40% to 50% but keep the valuation of your house at 500million.