₦airaland Forum

I have a 2003 Toyota Avalon I bought 1.9m in 2017 that I'm willing to sell. The engine is still good but I'm tired of always fixing the car. So you guys are telling me I can sell it for more than 1 million?

Putindbutt:
Your problem is either English or limited understanding. Let me break it down for you like pry sch kid. We have FX scarcity which is affecting naira-dollar rate. Instead of going to CBN to demand for dollars, NNPCL decided to approach Afrexim for dollar, Ministry of Finance also decided to go to World bank for dollars so that their would be relief on the pressure of dollar on CBN. Nobody is borrowing to defend the naira. Hope you learnt something new.

lol...I see what you are doing. You just want to troll. You are hereby ignored.

Putindbutt:
Cash for crude loan!
No matter the school you went to, if you can't use the brain, you'd still sound like an illiterate. From the link, who borrowed money, NNPCL or CBN?, does it say CBN borrowed money to stabilize naira?. if NNPCL who is the sole importer of fuel and who needs billions of dollars monthly to import fuel deemed it fit to borrow money for its purposes rather than scramble for scarce dollars in the system help reduce dollar demand and stabilize FX, is there anything wrong in that?. when refineries start working and there's no more need to demand dollars to bring in fuel, would CBN not have enough dollars to improve the economy?. I thought you would provide a source where Cardoso was borrowing to defend the naira. Anyways na your problem be dat, ignorance is bliss.

You can certainly engage in conversation without insults, can you? If you can't, I'm sorry I can't help you with that.

To the topic, I never mentioned CBN or Cardoso. I said "government". CBN, Cardoso, NNPCL, Ministry of Finance, etc are all part of the government. None of them are vestiges, they are all very crucial part of the executive arm of this government and any action they take is an executive action on behalf of the government of the Federal Republic of Nigeria.

See link below as well:
https://www.vanguardngr.com/2024/01/fg-in-talks-with-world-bank-for-1-5bn-fresh-loan/

Putindbutt:
Which money was borrowed?, you don't understand monetary conditions, you dey here dey cap nonsense and this one was once a moderator, smh

If you didn't know that the Government borrows money to stabilize the naira you are on a long thing.

https://www.thecable.ng/breaking-nnpc-secures-3bn-loan-to-stabilise-the-naira

What happens when that money that was borrowed is exhaused? Borrow more money? And then when that one is exhausted what happens? Back to square one?

This old man is certainly disillusioned. I am sorry but he doesn't sound like someone who has a plan to steer Nigeria in the right direction.

My concern for the country is not even Tinubu. It's the political structure that scares me. There's no viable opposition. People are still putting tribalism above their basic welfare. Politicians are feeding off that tribalism.

Its now that I really understand Fela when he sang the song "suffering and smiling". People from the tribe in power are smiling because their son is the president. People from other tribe are smiling because it's not their son that's making a mess of the country. However everyone is suffering. I'm tired, and I'm waiting for when the rest of Nigerians will be tired so we can take action for the collective interest of our country.

This is a good development. All the buildings where those agencies/parastatals were staying should be evacuated. All workers employed should be absorbed into the parent agency/ministry. The next step however is to set up modalities to ensure that civil servants are efficient in the duties and are not lazying about. Sack or suspend any civil servant who is not serious. However before you do that, you MUST increase their salary. The money saved from this merger can be used to do that.

erico2k2:
Right I arrived safely back in london yesterday.
SO here it goes my experience, when going I was allowed to travel on my expired Nigerian passport, it was signed at arrival in Port Harcourt international vis Lufthansa. Now returning was a different ball game. You are meant to have a valid Nigerian passport or show proof you have paid for a replacement passport if not you will be charged by immigration up to 50K,I saw people being charged, but I have an ID card that meant I was let off, so I did not pay.
SO, in summary, you will need a valid Nigerian passport to leave Nigeria even with your USA or UK passport. (1st hand information here)

Thanks so much for this update. What do you mean by ID Card. Can you explain further. Thanks.

Yimu. During election day they will still go and vote based on tribalism and stomach infrastructure. They are not really serious.

@erico2k2, have you left Nigeria to the UK? Please update us with your experience at the Lagos airport when you were leaving so as to guide others in your situation.

This will further decrease the little dollar we have further compounding the exchange rate crisis. Why not increase production so we can have some for local consumption?

I knew this would happen. This is simple economics. There is no magic in economics. Your naira will keep depreciating as long as we don't focus on massive production policies.

The demand for dollars (due to our import driven economy) is so much more than the supply of dollars. Attacking the Aboki's and other people who are just trying to survive is attacking the symptoms instead of attacking the disease. This is sheer stupidity.

@Nairametrics, you are equating inflation rate to cost of living. They are not always the same. This is a wrong deduction.

Yinmu. This government is merely attacking the symptoms instead of treating the disease.

Very good development. However, the rules must be well spelt out so that it won't be used for political or personal benefits.

It's also high time the government pumped more money into the police force and employed more educated and specialized officers who are professionals

Johnjustice:
You people should learn how to read...I said ban dollar use 'inside' Nigeria, spare parts for planes are not inside Nigeria, they are outside the country, so if course you buy with the trading currency. Read and assimilate before arguing.

Bros calm down and think it through. If you agree that the airline should buy the parts with trading currency which is dollars, where will they get the dollars? They will need to get the dollars inside the country and then use it to buy parts outside the country.

nairalanda1:
He obi would have announced subsidy has gone.

With debt servicing eating 90% of our revenue no one taking charge would have had a.choice.

Like i said, and God is my witness, i am.no Tinubu supporter, we are in effing dire straits.

If apc diversified the economy between 2015 and 2023 or they had kept their mouths shut in 2012 when gej wanted to remove subsidy, we won't havebeen in paradise, but ot won't have been this bad either.

Lets agree to disagree on what Obi would have said during his inauguration.

However I agree with you that APC has failed woefully. The scary part of all of these is that they don't even realise it. Another scary part of all these is that some people still support this APC government because this 8 years is their turn....emilokan philosophy. Unless we, the people, set our priorities right in this country. Unless we remove this emilokan nonsense and vote competence and compassion, we are going nowhere.

nairalanda1:
Yes we should not have voted tinubu.

But, lets put politics aside, abeg. With debt eating over 90% of our revenue, if we like, vote out apc and yes we should have voted out apc because they did not diversify the ecnonomy which would have gone a long way to mitigate the isaues we face now

But as at last year, debt was eating 90percent of our revenue. Even if obi took over, subsidy would have gone and prices would have gone up.

Keeping subsidy would have meant more loans and more debt. Obi would have removed subsidy because it is that or we run out of forex . Then we would still have to remove subsidy anyway

Even tinubu that is keeping some form of subsidy is setting us for more debt tomorrow.

All we are seeing here is the result of economic polices that have not increased our income at all. Sad thing is apc no dey do the needed things self.


It is like you guys and the tinubu followers don't know how much trobule we are in.

One thing I know for sure is that Obi would not have announced that "subsidy is gone" in his inauguration speech. He would have kept it to heart and put mechanisms in place to enable an easier subsidy removal. Also I know Peter Obi would have shown more compassion to the sufferings Nigerians are going through. He would have cut down the cost of government. He would have tasked Nigerians to engage more in production rather than consumption. It won't be easy, he might not even succeed with the economy, but we will all see the attempt. But I've always known all along that Tinubu is disconnected from the real challenges we are facing as a nation. I listened to him during the campaign and I saw that disconnection. I saw he was really declining due to his age. I really wonder how some Nigerians didn't see it. Perhaps they were blinded by the "emilokan" mantra. Well, now it's the turn of extreme poverty to say emilokan.

Johnjustice:
If we don't destroy dollars it will destroy Nigeria.

Ban dollar use inside Nigeria now. Naira is our legal tender, with this, it is illegal to spend any other currency inside Nigeria or use any other currency for payment.

The aviation sector need to replace airplane parts during maintenance, they may also need foreign experts, these things need to be imported thus the need for dollars. Even aviation fuel needs to be imported. That's is to show you the kind of economy we have in this country. An import driven economy. So whether we like it or not, dollar is heavily needed by many businesses in this country. If those businesses collapses, more jobs will be lost and the economic woes continue.

Whichever way it goes, it's a great result for Super Eagles. I never even expected them to get to the finals. So no pressure.

lusim:
You don't know how forex move, this will eliminate dollar scarcity as you suppose to put because cbn reserves will increase.

The process is simple,
If your foreign client pay you with usd, usd goes to the central reserve but the value is released to you in naira.

Before when most people get this usd direct, they hold it, study the market forces and sell at a good rate. This is what they want to stop.

Like most people are guilty of this.

If you want to force people to use naira that's your choice. However it is very critical to ensure that the forex rate is not dictated by the FG but simply by balance of trade (ie demand and supply). Otherwise, you will lose foreign investors as they don't want to put their dollars in an economy where the forex is determined by the government. And this will lead to less dollars and will eventually lead to more speculators and more black market transactions.

forgiveness:
In a sane society, aboki and those patronizing then should be jailed. It's illegal.

In a sane society, aboki will be out of business because people believe in their bank's forex rate as the government don't influence or dictate the rate.

forgiveness:
I have said it. Turn the dollar and foreign currency in the domiciliary account into naira. This will starve the BDCs of foreign currency.

2. No organization or schools must be allowed to do transaction in cash in Nigeria. Including Nigerian immigration. In this way, pressure will reduce on dollars. I was sorry for Nigeria when I learnt British school in Lekki pays in dollars as at 10 years ago.

3. Nobody must possess 1,000 dollars coming into Nigeria. And any currency brought into the country must be deposited at the bank or change to naira at the airport or any point of entry.

4. Allow banks to make naira transfer in order to pay for school fees abroad.

5. Return back to the days naira atm card can withdraw money outside Nigeria.


These will reduce pressure on dollar demand. Nobody will need to search for dollars.

All these won't work if the FG don't allow the market determine the forex rate and worse, it could even starve us of foreign investments.

forgiveness:
The government is not stopping you from earning in dollars but your dollar must be changed to naira if you want to collect cash because naira is the official currency for trade.

I now realize that many of this people are enemies of the state. They are really enjoying the economy fail but still criticizing the government. What hypocrites!!

The government is just attacking the symptoms and not the disease. If the forex was not influenced by the government and if the naira is truly on free float, people will see no need to patronize the black market because the banks are giving the true rate of the dollar.

Imagine if you were a tenant and your landlord sells bottle water for 500 naira however an aboki outside sells the same bottle water for 100 naira. Will you say because you are a good tenant you will not patronize the aboki?

You can't force someone who works hard and earns some dollars (who is your "tenant" using my analogy) to buy your "bottle water" which is to convert the dollar to naira using the banks rate when he knows he can get a better rate with an aboki. That "tenant" will leave your country and it will affect your economy.

Free float is the way to go. However before you do a free float, make sure the country is a net exporter of goods and services.

Sunijacks:
Will this policy help the naira?

It will help the naira temporarily but will rebound with immense negative effect on the naira due to the scarcity of the dollar. Whether we like it or not, Nigeria is import driven thus thrives on the dollar. The moment dollar gets scarce, the prices of things will go up, including petrol. The dollar will get scarce because Nigerians don't trust that the government will allow a free float of the forex exchange thus there will be a reduction in the inflow of dollar into the economy.

The solution is simple, the government needs to put mechanism in place to switch our economy from a consumption driven economy to production driven one. Then the government can allow a free float of the naira which will give confidence of investors and diasporans allowing their hard earned dollars to get into the economy. Once dollar floods the economy, it's value will drop and the naira will gain.

erico2k2:
its stil not top of my Agenda as no one is posting a Nigerian passport to my UK address from nigeria

Okie dokie, do what pleases you.

erico2k2:
well simple I had not enough time to renew it and its not top of my agenda. No visa in a passport is not a requirement for Immigration stamp as I have been to other countries b4 where my British passport had been stamped. For argument sake I can say I just lost my Nigerian passport 2 hours ago. What do you think they will say? I dont even need my Nigerian passport for boarding pass.

It is even worse if you say you lost your Nigerian Passport. First, you are lying and that's a serious offense. Two, they will request you get a police report and then get an emergency travel document from the immigration office.

Also saying it's not top of your agenda is concerning. Your travel documents should always be top of your agenda if you really want to travel without issues. I advice you start the process. Schedule an appointment, and go for the data capture. Even if you can't capture due to time at least you have evidence that you started the process.

Perhaps the reason why your British Passport was stamped without visa in other countries is because visa is exempt in those countries. Unfortunately, in Nigeria you need a visa if you are claiming British or US Citizen.

erico2k2:
I think you forgot the part where I said I have a British passport.

I did not forget...lol. Going to Nigeria with an expired passport isn't the issue, it's when you want to leave.

The immigration guys will need to stamp your Nigerian Passport before they can allow you leave the country. They cannot stamp your British Passport because there is no visa on it. So you will have to explain to the immigration officers why you still have an expired Nigerian Passport.

erico2k2:
This is what I am doing, to Nigeria with xpired 9ja passport then return with british passport.

You might have issues going back if you still haven't renewed your passport before leaving Nigeria. I advice you do express renewal. And even if the passport is not out you can present evidence that you have commenced the renewal process

Abayomi69:
I read that Lufthansa let's you through in Frankfurt. Thank God for that!
But how long does it take these days to renew your passport in Nigeria? What if I don't get it in time to fly back?
Is it possible to travel to Nigeria with a expired Nigerian passport and afterwards return to Schengen area with a dual citizen passport (Belgian in this case)?

You can travel to Nigeria with an expired passport, the problem is when you want to leave the country. I recommend you start the renewal process. If you do express it takes less than 1 week. And even if you don't get it, you can show evidence at the airport that you have commenced renewal, they should allow you to go.

LongT:
oshomole was recalled.

Oshiomhole ke? He is still a Senator as we speak.

Jamesoghie:
Yes.Dino Malays of Kogi

No he wasn't recalled. They tried but failed. See link:

https://www.premiumtimesng.com/news/headlines/266548-breaking-its-official-dino-melayes-recall-fails.html?tztc=1