₦airaland Forum

Obaseki is just huffing & puffing. What is he doing to raise internal revenue for Edo state? The ratio of government spending to GDP is more important. In 2020, this ratio was 12%, lower than many countries in Africa.

Nigeria GDP was $400b; though still low. However This shows there is growth opportunity in private sector

Government at all levels are useless. They’re just pocketing FAAC money without developing infrastructures. We’ve all known for over 10yrs that demand for oil will decrease with move towards greener energy. Lamenting now about reduced oil revenue is dumb. instead how do We develop Information technology, agro processing, tourism, green energy, manufacturing? This is what he should be talking about

soojar:
Somebody said the article is full of half information. No, the information is actually enough and adequate for those that have a bit of economics background or knows how to read and understand English Language.

Based on the bolded above you will see that many of the people shouting Lagos is this and that are either economics illiterates or lack basic understanding of English language. Do you know what the IGR of lagos state is? (well over 40billion monthly as at last year and this year the target is 60billion monthly), know how much that is in a year?

If that were to be used as the base instead of federal govt monthly allocation (because many states have close to zero IGR according to the author), Lagos wont be where you are seeing it there, rather its many of these so called oil rich states you will see that are over borrowing despite nothing to show for it.

That said, somebody should tell me what Osun state is doing there or is that state not to have been shared among other states? or sold to the highest bidder? Zero revenue, insignificant federal allocation, yet kept borrowing, na wa o. Ogun state is still okay, because it's tapping from the development in Lagos and its IGR is also climbing steadily over the years.

Begs the question how economically viable is Odudwa nation? When you ask, they tell you “when we get there we’ll think about it”. Except for Lagos & Ogun, other states in SW will go bankrupt without federal allocation. They tell you they have things to bring in revenue. Like what? Oh we have Cocoa, tourism, gold, bitumen. So how come they’re not bringing in revenue today?

Contact me if you want to check it out

Still waiting for serious offers

forreelinc:
Hi guys I am interested in learning web and graphic designing

How can I learn this?
Is it through videos or through an apprenticeship or taking a course in designing

If I am to take a course, please inform me of good tutorial centers that offer these courses

Thanx in advance

Web design is not for scammers and knuckle heads like you. The cops are after you for defrauding people of millions. Don’t try and start a new scam here. Nobody should deal with Forelinc, he’s a thief wanted by the police

You’re are a scammer and should stop posting stuff. I’m expecting you to back up your stupid allegations

Refute? He should report to EFCC or the cops if he has any evidence. I don’t waste my time with piece of shit human being from a shit hole

Waiting for offers

forreelinc:
See guilty conscience, young man don't ruin your future, so what's right and return that vehicle before the authorities get involved
Last warning

You’re a Buffon. Go to hell and report to the police

forreelinc:
Young man this car does not belong to you, if you know what's best for you kindly return this stolen vehicle to the owner before I involve the authorities

What a nonesense. Better get off my post and stop making stupid allegations

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Secessionist advocate for a Republic of Biafra should look carefully at the map of Nigeria before they decide. Be very careful what you wish for. Unless Cross River & Akwa Ibom agrees to be part of the new nation, Biafra republic will become a landlocked entity dependent solely on Nigeria.

Your republic will be a densely populatated parcel of land dependent on your perceived enemy to trade with other parts of the world. You will have to pay high duty cost to Nigerian customs before you can ship in goods to you so called Republic.

A word is enough for the wise. Don't let Kanu drive you to imminent disaster and isolation. If you still insist on breaking away, no problem, ciao, aurevoir, odabo, bye

Reference:
Then you are not a very brilliant person. You could have just waited for the assailant to run out of bullets as he fired wastefully away. Next time look at the fundamentals. Has the oil price appreciated significantly, no. Has government expenditure (waste) reduced significantly, no. Has the government evolved diverse income, no. Has government been able to attract serious FDI, no. Then why are you selling instead of buying. Isn't it obvious even to a dummy that the naira rise was woefully unsustainable and that it was just a political ruse and an opportunity for high level government theft through currency round tripping. That economic fundamentals may have just improved by an inch but the naira was subsidized by a mile. Now 'Team Toothpick' importers have arisen like the elephant grass at the scent of the new rainy season and they will be a thorn in the nation's economy going forward.

Nigeria is like a malaria or tuberculosis patient who will not take his medications seriously. The result is intransigent poverty and economic damage. Reforms are painful whether we like them or not. What we abuse the likes of the IMF for is what we have to face to survive. And whether we like it or not a weak naira is the only way to drag a stubborn, lazy Nigerian to diversify and produce stuff. Go to any major city of Nigeria and find all roads and highways dotted with 'shops'. Few make, everyone sells. That is poverty on display.

I have said it time and again. Nigeria needs a socio-economic overhaul, a renaissance where restructuring is complimented by sound free market policies of which the free exchange of the naira is compulsory. Government has no business setting the rate of the naira when its share of the economy is in the minority. Nigerians have much more money that all of government. Why should government dictate how much the naira trades for. This is the sad result.

I like your analogy (bold) This CBN has no clue how to manage the economy. China with over $3 trillion in foreign reserve continues to increase their coffers, yet Nigeria with a meagre $30 billion is using it to subsidize parents sending their children to schools abroad. Go figure! This policy is very dysfunctional and smells of corruption.

Exchanging nearly $2 billion at subsidized rate (370) for invisible (BTA, school fees), when real rate is 410, is an "implicit tax" on productive sectors of the economy and other people not benefiting from this corrupt driven policy.

Any Government attempting to defer the FX market eventually fails. When speculators smell blood, the CBN will quickly back off this policy of trying to keep naira value at a fixed rate. Let the market determine naira rate. Period. We focus on policies to increase local production and export of goods. Anything else, is just hoping for magic to turn the economy around.

Exchanging $ at cheap rate for people sending children abroad to pay school fees or BTA for those privileged to travel out is not helping the economy. They're just takIng care of their own people, a vocal minority at the expense of the masses who don't have a say in how this country is ruled

How many Nigerians can afford to pay $30,000 to school in the US that CBN has to subsidize these folks to pay tuition?

It's still difficult for manufacturers to source $ but easy to pay tuition to attend university in New York. This CBN is a joke. No wonder international investors do not take them seriously

Truth234:
There is nothing like injecting dollars into the economy, our foreign revenue is in dollars and needs to be converted to local currency before it can be used to fund 2017 budget.

The CBN is not giving out those funds, rather exchanging it for capital projects as stipulated in the 2017 budget. We are in a petrol-dollar economy , we need both to service the economy until will fully diversify.

Capital Project? Really?

LordAdam16:
You are lying. That's a fact.

The Egyptian government subsidizes prices of goods. And they've slowly been removing those subsidies since 2011.

http://www.thenational.ae/featured-content/channel-page/business/middle-teasers-list/food-prices-on-the-rise-in-egypt-as-new-regime-battles-inflation for 2011

http://www.thenational.ae/business/economy/egyptian-inflation-keeps-rising-with-food-prices-higher for 2015.

In fact, one of the reasons for the uprising in Egypt was because of the prices of goods -- http://www.voanews.com/a/high-food-prices-helped-spark-egypt-protests-116170879/160199.html. Inflation didn't slow and were consistently above 10 percent.

One of the reforms the IMF demanded from Egypt was to do away with food subsidies. And that's exactly what shot inflation to 30%.

This is why I call you a politician, because every African analyst worth his onions knows the underlying reasons for Egypt's inflation. And not your very immature, beer-parlor exchange rate nonsense.

Now compare that to Nigeria where the government does not subsidize food. Food currently is bought at parallel market exchange rate. So the only effect a full float will have on the Naira in terms of inflation is due to higher fuel prices that historically increases the price of goods. But Nigeria has no choice really. If oil goes up to $60 as expected later this year, the current pseudo-fuel-subsidy will have to be re-pegged. Which means higher fuel prices and higher cost of goods with short to medium term higher inflation.

If Nigeria had abandoned fuel subsidies in 2012, the pending impact of a full float on inflation would have been minimal. But alas we even still have fuel subsidy now because 145 is more than the current landing cost of petrol. The NNPC pays the subsidy.

Then about data of Egyptian reserve. Read the reports from Bloomberg:

https://www.bloomberg.com/news/articles/2016-12-05/egypt-s-reserves-hit-highest-level-since-2011-after-imf-deal (Egypt’s Reserves Hit Highest Level Since 2011 After IMF Deal)

Look at the graph in that news page. Liar!

Another authority site to quell your lies: http://www.tradingeconomics.com/egypt/foreign-exchange-reserves

So it is clear you are pulling figures from your a$$ like politicians do. I'm talking about reserves, you are talking about FDI.

You have to apologize to Nairalanders for deliberately misinforming them, before I'd even begin to contemplate apologizing to you when I did not insult you. If you lie, then you are a liar. Simple as that. I'm not going to apologize to you for implicitly calling you a liar when you are brazenly lying.

As for the value of the Egyptian pound, look at official data from the Egyptian Central Bank -- http://www.cbe.org.eg/en/EconomicResearch/Statistics/Pages/ExchangeRateshistorical.aspx. The Egyptian pound has been hovering between 15 and 18 since the start of this year. The recent minute increase which has stopped was because of the drop in oil price last month. That's how fully floated normal currencies behave, not the fake pegged naira.

Then the consumer confidence you showed is for data starting in 2007. If you are to use the word, know what it means. 2007 is recent, so you should have said as I did with the reserve, consumer confidence is at it's lowest point since 2007. Not say all-time. Know how to express yourself. Furthermore, the consumer confidence is heavily influenced by inflation, so it's low point is expected.

I will ask you again. What do you gain from lying?

You are a politician plain and simple. An economist doesn't lie when facts are staring at him/her straight in the face. It is only politicians that do not do adequate research before opening their mouths. That's exactly what you are doing.

Shameless propagandist.

I set my cross hairs on people like you who prefer propaganda over facts and use high sounding words to cover up their offensive, brazen lies and misrepresentation of data.

-Lord

Exchanging $ at cheap rate for people sending children abroad to pay school fees or BTA for those privileged to travel out is not helping the economy. They're just takIng care of their own people, a vocal minority at the expense of the masses who don't have a say in how this country is ruled.

How many Nigerians can afford to pay $30,000 to school in the US that CBN has to subsidize these folks to pay tuition?

It's still difficult for manufacturers to source but easy to pay tuition to attend university in New York. This CBN is a joke. No wonder international investors do not take them seriously

Yes, all individuals are entitled to freedom of speech. Likewise inciting violence through hateful words is illegal. I listened and watched that Suleiman's speech; it was filled with pure hate and violence. He should be cautioned and sanctioned for that kind of incendiary statement.

Encouraging your followers on the pulpit to commit violence act is disgraceful. We all need to understand that outcome of any war in Nigeria can be extremely unpredictable and violent. People should stop listening to all these unprincipled Christian leaders. They will all flee to US, Canada or any safe haven if conflict starts and leave their followers to face the consequences.

Nigerians be smart: A lot these religious leaders and their families have visas and permanent residency of western countries. They'll set our country ablaze with violent words and flee when trouble starts.

esuLAAROYE:
Enough is enough. The last time we checked, Sections 38-41 of the 1999 Constitution (as amended) states clearly that every Nigerian is “entitled to freedom of thought, conscience and religion, including freedom to change his religion or belief, and freedom (either alone or in community with others, and in public or in private) to manifest and propagate his religion or belief in worship, teaching, practice and observance.





The Constitution states unambiguously that ‘Every person shall be entitled to freedom of expression, including freedom to hold opinions and to receive and impart ideas and information without interference’. Every person shall be entitled to assemble freely and associate with other persons, and in particular he may form or belong to any political party, trade union or any other association for the protection of his interests:



I think Buhari's government didn't rule with constitutions. they actually operate with guns, unidentified search warrant, ruggedity and force.


Buhari's government is called Forcemocracy: the government of the force, by force and to force.



meanwhile Fulani hiredkillers are licenced under section Buhari/2017" 34" to eliminate Christians at will without prosecution but the Christians are under a stewpiid law that compound them not to retaliate even when they butcher/harrass their spiritual leader in front of them..


the thunder that will fire Buhari is still drinking Small stout with Donald Trump in U.S.A.

Do you have "find my iPhone/iPad" app enabled? If so, you can trace them to the exact location. You need a second iPhone however to help track them

mastengsynergy:
Very brilliant C. V.
But he has never introduce where his Parents hailed from. Born in Epe doesn't mean he is a native of Epe land.
"What is your State of Origin Sir?
Lagosians want to know.

Born in Lagos, schooled in Lagos, worked for Lagos state government and paid his taxes to the Lagos state coffers. He's a Lagosian simple and therefore qualifies to hold any elective post in Lagos.

Demdem:

I see no competition, instead what I see is a cartel.
Cement shouldn't be more than N500.

You are right.These guys have been gouging Nigerians all this time and making excessive profits. Price of cement in Nigeria is still one of the highest in the world

Question is why are they just slashing prices?

BadBoy25: yes ,if given power ,black people are the most bigoted people, That is why i have no sympathy towards blacks in some situations sometimes . that is why God did not give black people power to dominate the earth .

Rationalizing racism with your explanation is really disturbing. I don't believe you're a black person

ooshinibos: Yes ,minorities does discriminate ,but its a complex that can be explained , i have experienced it ,
people become how they are treated , i noticed this in Europe , some of the afro caribbeans are obviously racist to african migrants , and the british born asians are worst than the white racist ...it is a vicious cycle bruv , i remember a black afro caribbean commuter in london abusing a bus conductor that happenned to be an african ( obviously she was nigerian or ghana because she had tribal marks ) , the commuter shouted at the conductor , go back to ur country and all sorts of racial abuse , the oyibos in the bus could not believe it , i was shocked beyond my brain and i will never forget. i remember this more than the white racism that i have experienced in Europe . i believe if the afro carbbeans that were born in europe had never experience racism they might have not been able to dish out the same evil to fellow african migrants that show up in europe.
i will think the victims of racism will be compassionate but it nevers turns out that way ..the abused becomes the abuser most of the times .....same story amongst the afro americans and the african migrants, the tension and hate is just something else...
this racism is beyond color and its an evil mechanism designed to destroy mankind..turning a blind to it makes it worst and when this evil matures it does not discriminate .... terrorism is an off shoot of untreated racism ..and so on

This isn't racism. The persistent racial prejudice experienced in white societies has created a subtle caste system within minority groups. Sadly the prevailing perception that minorities closer to white people (in how they speak, what they eat, how they look, where they are born etc) are far more superior than their other black brethren. Some Africans and Caribbeans therefore detest each other to be seen as been closer to white people. I see this tendency all the time.

SirShymex: I think the OP is confused about what racism entails. He asserted that racism is about "superiority" and to be superior, you've to be the dominant race, with power. However, since minorities can never be the dominant race, and they lack the power to either rule, or be superior - there's absolutely no way they can be racist.

But on the flip-side - they can be bigots and and also ethnocentric.

Topic:

- BIG NO!!

Absolutely correct. Black people and other minorities need to understand that Racism equates to prejudice and power. This is the only meaning of RACISM. Anglo Saxons and other Aryan descendants have this false sense of superiority and belief

Internalized racism is the most dangerous outcome of prejudice in North America and Europe and to a large extent in African societies. Some Nigerian parents deliberately force their kids to imbibe and accept pop culture and white values. These kids do not speak local languages nor eat Nigerian dishes even though they live in Nigeria. They are fondly referred to as aje butter