₦airaland Forum

champman:
Are they d one(s) u are voting for?

In his myopic half starved mind if Tinubu wins, his supporters will be allowed to move into Aso Rock with him. You can’t be a BATSheet supporter if ur IQ is above that level!

donaldking100:
a young man supporting his dying great grandfather to be a president, speaks volume of how much u truly hate your future.

Very charitable of u to assume he has a future. People like that can only see as far as their next meal.

Why did the story change from Oduduwa republic to Tinubu? How the promise of free agbado can be that irresistible to u guys, should be a course studied by psychiatric doctors in sane countries!

This Gen Z is not like all the other older generations oo! They were accused of trying to truncate democracy because they wanted the police to stop killing them over nothing, only to realize that the lives of citizens are nothing but canon fodder to this administration.

They might look like an unserious generation who only care about cruise, but body suppose don dey tell ona say their werey na full disguise!

Over 10 million new PVC registrations, and they are neither for Nepa Certificate nor missing Waec!

That’s like Mortal KomBAT (pun intended) paramode activation!!

Nwanne, water don finally pass the garri, & the bush meat don kuku turn dey eye the hunter akpa amū! Kikikiki

ruggedtimi:
in the 90s billionaire in dollars ...baba lie small small...Even dantata wasn't a billionaire in dollars.

You mean you call him Peter Obi but have no idea what the pandora papers actually say about him?? What a clown!
Oga pocket no be show glass, only poor men think wealth is measured by floss.

Okay, we’ll make sure he’s drafted into the Army Engineering Corps with a lifetime supply of cassava & agbado when the bat and his night rider win the elections in their own personal republic next year!

He must have had a good record throughout his school days to even have them call and inform him of the sudden interest! Just sell ur agbado candidate in peace because trying to dig for unpleasant stories concerning this guy is just going to cost u more of ur staunch supporters! Nigeria really can’t afford to lose this guy next year!!

It is beginning to look like animals now have more compassion for human than humans for humans. How else can u explain a crowd of onlookers watching & recording as a man was being beaten to death with not a muscle moved to save the situation! RIP to the dead, life ana gaga!

Special Investigation Bureau, are they not the ones that like to dress up like they’re the DSS? So after forming kool & the gang by day, he shifts like Dr. Jekyll into Mr. Hyde at night to terrorize his little niece with the little hulk in his pants!

Studies have shown that paedophiles actually believe their members to be inadequate to pleasure a grown woman, hence the attraction for weaker prey!
They hide this perverted nature behind a false sense of righteous indignation at the sight of a scantily clad woman!


I guess that explains why underage rape cases seem to be on the increase in the country while Nigerian men are usually the first to verbally attack women who are not afraid to show a little skin on camera!


Sabi yasef no be curse oo, just know thine sef!

Betanaija42moro:
The dead woman is from Abba (Chimamanda's town) but married to Ogbunike

Didn’t see that in the write up, but that’s the right town.

Betanaija42moro:
The kind of unprofessionalism in Nigeria Media industry is becoming worrisome.

How can a Media outfit as big as Punch be reporting a news without any verification. You just tag someone chimamanda's sister becos she is from the same town.

Chimammanda Adichie is not from Ogbunike.

OgaDeyVex:
See More Photos And Reaction As Obtained By Below:

Strange to see giving good news for a change! Wetin happen brah, www.badnews.com don tire you??

Beautiful damsel gone too soon. Nigeria just happened to her family. Traveling by road in Nigeria now done turn Russian roulette! Till dem call you say dem done reach, na so so hang your mind go dey hang like indigestion. So sad to see this once great country, the envy of many brought so low by poor leadership. May God grant her family that suffered in this very harsh economy to put her thru school, after many many ASUU strikes, the fortitude to bear the loss.

Raiding, relentless, combing, all those adjectives don’t mean diddly squat without a single casualty on the side of gun wielding bandits that were supposedly surprised! No dead bodies, no evidence of a fire fight, just more tales by moonlight by an Administration that has never been honest to even themselves!

Died on Friday, buried on Saturday. Why the rush, was he a Muslim??

This is just so heartbreaking. This is what bad governance has brought to our people. First, those kids should be talking about school, puppy love/celeb crushes, & not apprenticeship if this were a nation that truly cares about its own future. This traditionalist didn’t just rob them of their maiden heads, but also the little seed in their hands. You’re no different from this herbalist if ur political beliefs are motivated not competence but by tribe! While u were busy struggling to be noticed for clapping for the kids of ur fav politicians wearing the allocation of one LGA on their wrists, someone’s little girl was being raped by one frustrated adult male because of one thousand Naira that she knows nothing about!

A post by a northerner and you still went out of your way to ascribe it to Igbo. This is the same way they marketed buhari to Nigerians by playing on tribal sentiments. Seven years later & lives wasted, how market?? But u know what, Nigerians will defend their votes and the integrity of their nation by any means necessary.

The ruler and the ruled have one thing in common, fear of hunger!

Breeze haf blow and Uncle Charlie’s rear-end is in the wind! Of a truth, every man has a price tag. Kikikiki!!

Which wan be "quoted out of context", na interview you grant??

Oga we already know he has been lying about his age, name and state of origin, so what’s new! Whether you said what you said or not, Obi has won the hearts and minds of every sensible human in Nigeria.

GamalNasser:
Air cooled petrol generators need open space and plenty of fresh air to operate and cool optimally ..this box will reduce the life span of your gen by 80 percent

Goan watch that video again, it’s got an industrial fan which removes the hot air and is powered by the generator itself. The company is in port harcourt and has been manufacturing these generator soundproofing for more than two years now.

And they expect the United States to pander to the whims of a bruised ego!

Try as you may, there’s more opposition against the truth than a lie.

hegelian:
Why the curse?? You can pass your comment without curse.. No one is fighting you here and yet you started with a curse.. What is wrong with you guys brain..

Nothing.... there’s no brain there for something to be wrong with!

It’s a standard practice of most African nationals to claim Nigerian even in the US, because the average Nigerian no fit carry last anywhere.... kpata-kpata na draw e go end las las! Once met a Somalian mechanic in Austin, TX that was so crazy about Nigeria that he practically knew all our nollywood movies from Living in bondage of the early 90s! His accent tho was a dead giveaway, but oyinbo go know the difference? We all look alike to them in the same way all Asians look Chinese to Africans.

Angelfrost:
Sorry... Who is she again?!!

One of the apostle’s leftovers from what I hear!

IDG all these Nigerians traveling out to sunbathe when the sun in Nigeria is hotter than their destination! It’s like someone that spends hours in traffic driving to the gym just to spend only thirty minutes running on a treadmill!

This is going to be a long write up, but you’ll only understand if you patiently read & assimilate.

Simple secondary school economics teaches that the price of a commodity is determined by the demand and supply for that commodity. If the demand for a product, like sugar or garri, increases, the price will rise. Consider, for example, that in a town that used to have 10 (ten) bread bakeries, 9 (nine) suddenly close their shops and only one bakery is left. What would happen to the price of bread the next morning? It will rise because the supply of bread has fallen.

So, in general, just like the price of cows or cars, the price of the US Dollar in Nigeria is determined by the quantity of US Dollars that flows into the country as well as the quantity of US Dollars demanded by Nigerians.


Using this simple principle of demand and supply, let us now look at how the exchange rate (that is, the price of US Dollars) has fared in the last couple of years. The simple truth is that the exchange rate in Nigeria has risen/depreciated because it is suffering from two simultaneous effects: the supply of US Dollars is falling at the same time when the demand of US Dollars is rising.

People always refer to the 70s and 80s when the Naira was “stronger” than the US Dollar, or at least, were at par (the same value). But the real question to ask is: what was the demand and supply of US Dollar at that time, and what is it today?

Let us look at the demand first. In the 1980s and 1990s, the number of Nigerians studying abroad (for which US Dollars is needed from here for their upkeep) was negligible. Yet, according to data from the UNESCO’s Institute of Statistics, the number of Nigerian students abroad increased from less than 15,000 in 1998 to over 71,000 in 2015. By 2018, this number had risen to 96,702 students, according to the World Bank.


In the 1980s and 1990s, you would search hard before you can find parents who sent their children to primary and secondary schools abroad. Today, a sizeable amount of the foreign exchange request Nigerian banks receive for school fees are for primary and secondary school education, some of which are for neighbouring African countries. In light of the above, it is no wonder that foreign education has cost the country a whopping sum of US$28.65 billion between 2010 and 2020, according to the CBN’s publicly available Balance of Payments Statistics. If this amount were not sent abroad but was part of the CBN’s Foreign Exchange Reserves, the Naira would be much stronger today.
How about healthcare?

No one reading this would deny not ever knowing anyone who has travelled abroad in the last few years specifically to receive medical care. According to the Nigerian Sovereign Investment Authority (NSIA), Nigerians spend over US$1 billion annually on medical treatment abroad (championed by the president & his party’s current presidential candidate). This fact is corroborated by a review of the Central Bank’s balance of payment data, which indicate that Nigerians have spent US$11.01 billion on healthcare-related services over the past 10 years.

Over the last 10 years, therefore, foreign exchange demand specifically for education and healthcare has cost the country almost US$40 billion. As you may know, this amount is equivalent to the total current foreign exchange reserves of the CBN. If we were able to avoid a significant portion of this demand, the Naira would be much stronger today.
According to Nairametrics, a leading Nigerian online newspaper, Nigeria and its corporates spent a sum of US$55 billion on foreign expatriates for business, professional, and technical services in the last 10 years. Similarly, Personal Travel Allowances gulped a total of US$58.7 billion over the same period. In fact, in the 9-month period between January and September 2019, the CBN sold US$9.01 billion to Nigerians for personal foreign travels.


Still on demand for US Dollars, in 1980, Nigeria’s total imports (for which we need dollars to pay our suppliers) was US$16.65 billion per annum. By 2014, our annual import bill had risen astronomically to US$67.05 billion, though it has gradually fallen to US$54.71 billion as of last year. Similarly, in 1980, food imports cost us US$2.63 billion. We were mostly eating what we produced here in Nigeria. But as of 2011, food imports had skyrocketed to US$18.91 billion, though it has fallen to US$14.84 billion as of 2019.
In 1980, over 75 percent of the cars we drove on our roads were made here by either Volkswagen in Lagos, Peugeot in Kaduna, or some other automobile companies. Today, over 99 percent of the cars we drive are imported (for which we need dollars to make payment). In 1980, most of the clothes we wore were from Nigerian textile mills in Funtua, Asaba, Kano, Lagos, or other numerous towns and cities. Today, almost all the clothes we wear are from imported fabrics.


With this level of demand on education, healthcare, professional services, personal travel, and the likes, the exchange rate will definitely be under constant pressure to rise, particularly when the Central Bank does neither print US Dollars nor exports Nigeria’s crude oil. Under these circumstances, the price of US Dollars will continue to rise, especially if its supply either remains constant or worse still, falls.

But that takes me to the supply side of US Dollars in Nigeria. As a respected colleague once remarked, an economy must “earn” US Dollars for the supply to rise. The productive base of the economy must be strong in order to produce goods and/or services that the rest of the world is willing to pay for in US Dollars. In the case of Nigeria, we can do so either by oil exports or non-oil exports.

While we have seen from the analysis above that demand for US Dollars has risen tremendously over the past decades, its supply has unfortunately fallen sharply. Recall that in 1980, our import bill was US$16.65 billion? That same year, we earned US$25.97 billion in exports, leaving us a “savings” of US$9.32 billion. So, in 1980, we were able to meet all the demand for US Dollars from our supply of US Dollars and still had over US$9 billion to spare. In this instance, the exchange rate (the price of the US Dollar) will not rise because, like any commodity, its supply is more than the demand.
By 1996, we earned US$59.83 billion from our exports. That is, approximately US$59.83 billion was “supplied” into the Nigerian economy in 1996. Conversely, our import bill (the demand for US Dollars) for that year was US$25.71 billion, leaving us a surplus supply of over US$34 billion. Indeed, from 2003—2013, we enjoyed a surplus of US$331.73 billion into the economy. During the same period, oil exports alone accounted for over US$798 billion. Of course, with such “excess” dollars, the exchange rate would be stable, and the Naira would be “strong”.


In the last 12 years unfortunately, oil exports, which accounts for over 90 percent of our foreign exchange supply/earnings, have fallen from US$93.89 billion in 2011 to US$31.4 billion in 2020.

This drastic decline, including the recent decimation of our Excess Crude Account by people you were expressly warned not to vote into power amongst other reasons, implies that the demand for US Dollars has exceeded its supply by about UD$18.45 billion over the last 7 years, that is the price of your blind tribalism over competence! But if you wan change your NAIRA to dollars I go run am for you sharpaly. Money nor get tribe or religion!!

The Igbos weren’t the only ones that voted against buhari. However, the 2015 elections by the APC were racially charged with anti-Igbo sentiments as if GEJ were an Igbo man. The blatant propaganda of 5%ers was applauded by ignoramuses from the SW until the nepotism started to affect them too. ECA from $35 billion is now in a mere thousands of dollars with nothing to show for the withdrawals. The insecurity is beginning to reach everyone everywhere. Of course, since the Igbos were maligned more than any other tribe for not supporting the APC, they deserve the credit for being right about this party and its 'only fulani lives matter' president!

All these Sai Baba idiots, have u seen what we were saying when we said Buhari is not qualified to rule this nation?? They’re not done yet, CBN go soon come borrow moni from Zenith.

There’s a pressing matter of an imminent invasion of the capital before these clowns, but they’re more interested in going on a long vacation! Did they tell them that the terrorists surrounding Abuja will also go on break??

I can’t wait enough for Obi to enter and usher in a new era were the lives & livelihoods of citizens will matter in this country!

Ninejaywon:
No 5.

Who follow you argue am??