₦airaland Forum

BlueStripper:
Some of these people just talk without reasoning. I agree that you hate this government, but why publicizing stupid information to incite the people against the Government or make them feel worse about their country?

Why didn't you bother to research on how much Nigeria has made from diaspora remittance?

There are countries in South America where DR amounts to %37 of their GDP. Chinese doctors are everywhere in the world, same with American Doctors, so stop this nonsense please.

Thank you for saying what needs to be said. Given how much all of those diaspora doctors must be sending back in remittances, their educations must be returning by far the highest yields on any investment ever made by a Nigerian government.

If anything, Nigeria should be training and exporting many times more doctors, as foreign remittances from such highly educated professionals already represents the 2nd biggest source of export income after oil - about $20 billion in the last year alone.

https://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD.ZS?locations=NG
https://african.business/2024/08/african-banker/nigeria-relies-on-diaspora-remittances-for-economic-recovery

ALISMILE:
Watch as low IQ Nigerians will praise him here

Indeed. Support for Trump is an IQ test, and no bigger failures on the test can be found than Africans worshipping a racist idiot who could care less whether they live or die. The white Americans supporting a buffoon who is rapidly destroying American economy are bad enough, but the Nigerians who do so are so stupid it's a miracle if they know how to tie their shoelaces in the morning.

grandstar:
Hello Omohayek,
How you dey?

I have a specific question for you.

Now that Trump is bound to dip the US economy into a recession or probably a depression with his tariffs and xenophobic immigration policies, should developed countries not loosen fiscal policies now to insulate themselves from a tanking US economy?

Lower corporate taxes may boost business confidence in these economies up, which may spur investments. China seems lukewarm towards pump priming their economy lest another bubble appear.

The world can't just fold its hands for the next four years until Trump is gone for good. He might even be kicked out far ealier. Opposition to his misgovernance is growing by the day.

The problem with loosening fiscal policy now is that Trump's tariffs (and the inevitable retaliation they invite) are intrinsically inflationary. Lowering corporate tax rates won't do anything to offset this reality, as the underlying problem is that high tariff barriers prevent consumers from having access to the most efficient producers of goods and services, which translates into lower productivity growth.

If worldwide economic growth doesn't come to a halt thanks to these tariffs, it will only be because the primary driver of economic growth in advanced economies is scientific and technological innovation, but even here Trump and Musk are busy applying a sledgehammer to America's universities and research institutions. This will have ripple effects worldwide, as most cutting-edge scientific research knows no borders.

The bottom line is that there are no easy fiscal solutions for the damage Trump is doing to economies across the world, even if the biggest victim of Trump's idiocy ends up being the USA itself. Other countries can try to reduce the damage by signing their own trade deals (e.g. the one Canada signed with the EU)

https://en.wikipedia.org/wiki/Comprehensive_Economic_and_Trade_Agreement

but these can take many years to conclude, and still longer to be ratified and implemented (the one Canada signed with the EU in 2017 still hasn't been fully ratified 8 years later).

Free2Fly:
And that individual is a yoruba man!
There's no other region where such a man could have come from.
Their only preoccupation is how to lick the ass of and please an old, clueless, corrupt drugbag

Yes, because the likes of Daniel Kanu and Arthur Nzeribe come from where, exactly? What do you call their attempts to prop up Sani Abacha's bid to become President for life? Sick tribalists like you ought to be banned for life from this forum.

CraigslistAD:



Wouldn’t that discourage more people from coming into Nigeria during the festive season?

People will rather go to Ghana, SA etc, than pay that $500 and whose lose will that be?

Nawa for all these advisers o

The man is not an "adviser", just another of the millions of Nigerians living outside Nigeria's borders. All he did is something any Nigerian could have done, whether in or outside Nigeria - he wrote a letter and sent it to Tinubu (with no guarantee that Tinubu would ever even lay eyes on it). Nobody would ever have heard of this economically illiterate crackpot without the efforts of traffic-hungry bloggers and "news" sites to push his ridiculous idea into public awareness.

ezugegere:
Your write up says it all about you... Zero home training

If by "home training" you mean I wasn't raised by violence-prone savages to become a brute who excuses brutalizing toddlers, then I will happily do without your sort of "home training".

ezugegere:
No! Animals know their own kind

Yes (anyone like yourself) leaping to the defense of this psychopathic brute out of a sense of "tribal" loyalty is a lowly beast deserving of being put out of its misery in an abattoir. You brutish creatures clearly recognize your kin!

Wallade:
Come on now,

Don't call another human being animal, it sounds derogatory. She is human too.

If she wants to be treated like a human being, perhaps she ought to act like one? I refuse to extend any such courtesies to those capable of acting so callously towards children so young they stand no chance of defending themselves.

This individual is exactly the sort of character who would have been recruited as a concentration-camp guard if she'd born in Nazi Germany, utterly lacking in empathy for anyone under her power. Those who fail to see the humanity in others have no business expecting to be treated like human beings themselves.

Yujin:
Thank God the video is there and everyone can see what exactly happened. Yes, she was heavy handed which was very wrong. But seeing that it was during a one on one teaching session which probably was the teacher going extra mile to help him get his work right, I as his parent won't be too mad at her. He didn't sustain any injury nor was he crying as to show excessive pain. This shows that there was a level of restraint from her although her actions are unacceptable.
There was no shouting, insults or cursing from the teacher. This shows she was still collected and in control of the situation despite not getting the expected result from the kid. She's at fault though and more should be demanded from her but it shouldn't be an overkill.
Prejudice and sentimentality can make one alter proportionate judgement. Intentions and actions are things a good judge consider before delivering a verdict.

You are insane. There is no excuse whatsoever for slapping a child, especially one who is just 3 years old! You're quick to whine about tribal prejudice when it's obvious that the only reason you're bending over backwards to defend this animal is because of your own tribalism, which forces you into defending the indefensible when perpetreted by one of your own.

adebayo201:
Kindly help me with stats to back up this your claim.

Kano, Aba and Onitsha are the major distribution centers C'mon nah. This is 2025 oh.

Don't hold your breath waiting for a response. His "statistics" are also of the "Made in Aba" variety, existing entirely in his imagination.

Frigga13:
Says a bayirebe banza.. shege..

Yoruba sef
Everything na Igbo to them..

Nonsense

Pathetic projection - as if you weren't the one to bring up "Yoruba" in a thread about an altercation between northerners and Igbos in Igboland ...

lionshare:
It's only a government-related company or development finance house that can take up this role, because patient capital is required - which is to provide a sort of insurance service to the lenders that ensures they get refunded should people default on the loans.

And how exactly is a government organization - especially a Nigerian one - supposed to know just how "patient" capital should be? What's stopping this from turning into yet another gigantic money-pit, just like every other government-run enterprise in Nigerian history? Can you name a single successful example of the Nigerian government running anything whatsoever? Have you ever run across the phrase "moral hazard", let alone understood what it means?

https://en.wikipedia.org/wiki/Moral_hazard

It's a great idea, in my opinion, because it'll encourage the banks/lenders to take more risks by providing more credit to people/SMEs. However, the main issue now is the inflation rate and MPR rate; unless both come down significantly, the cost of borrowing will still remain high.

It's an incredibly awful idea, for the very reason you praise it - giving banks an explicit guarantee that you'll underwrite even their riskiest loans is begging them to go on a lending spree which will end with the public saddled with huge amounts of bad loans whenever the lending bubble finally bursts. Again, I suggest you learn about "moral hazard" before endorsing this nonsensical scheme.

https://www.weforum.org/stories/2014/11/do-credit-guarantees-encourage-moral-hazard/

https://www.cgdev.org/blog/deposit-insurance-bank-runs-and-moral-hazard

https://www.imf.org/external/np/res/seminars/2016/arc/pdf/Cordella_Dellariccia_Marquez_Session4.pdf

https://siiaonline.org/chinas-shadow-banking-system-no-end-in-sight-to-moral-hazard/

https://www.sciencedirect.com/science/article/abs/pii/S1544612319303289

Peakdesign23:
Hmmm.... I don't know if this is good news or bad news.

The idea of expanding access to credit is a good one, but the notion that this should be through yet another government-run organ is simply terrible. The Nigerian government has never run any commercial enterprises successfully, and the idea that this time will be any different is ridiculous. This new parastatal will end up just like all the others that have been set up since independence, a highly inefficient, corruption-ridden, money-losing vehicle for tribal and nepotistic patronage which fails completely at its official mission of expanding credit access to the masses.

Instead of setting up yet another white elephant, the government would be better advised to stay out of the personal finance arena altogether, and focus instead on providing the prerequisites for the private sector to do a job it has done successfully in so many other countries (including African ones like Kenya). That means making it easy to register for identity documents, lowering the barriers to using electronic payments, and - last but not least - abolishing the insane Land Use Act and passing a law guaranteeing private land ownership, so that millions of rural Nigerians can possess tangible collateral they can borrow against.

Bluntemperor:
We hope the Govt is Not joining the BRICS- just to look for More LOANS,as Nigerians are suffering from Loans Burden!
Govt should tell us,what they have been using the Loans Collected in FOREX,for?

More raw ignorance. Blanket condemnation of borrowing without knowing the details is simply inane. What if the point of seeking out new loans is to find them at cheaper rates than for prior loans? For example, how is it a bad thing to take out a loan at 5% if you can then use that to completely pay off an older loan charging 8%? In such a case, your total indebtedness actually goes down, even though you are taking out "More LOANS"!!!

Why is it so hard for so many Nigerians to simply say "I don't know what the consequences of XYZ are", and ask for further guidance? Why the compulsive need to share your confident ignorance with the rest of the world?

Originalsly:
People who don't know the difference between a loan and a grant will type rubbish. What percentage of Nigeria 's income is presently used to service debts? When we begin to pay back this loan...how much will it be? The World Bank and IMF are vampires ... they will give Nigeria what she asks for ...knowing full well that we will default. What are the conditions of this loan? ...a loan that will not generate income to repay itself. Nigeria is finished

It is better to teach a man to fish than to give him fish. This administration is about receiving fish. All these colonialised politicians need to go

It's hard to even know where to begin to address so much addled nonsense. You clearly don't know the first thing about finance: the terms of World Bank and IMF loans are exceedingly generous, with interest rates far below what the same borrowers could get in private markets, and repayment terms which give leeway private lenders would never agree to. The real reason why these two organizations are so often blamed by financial illiterates like you is that they are typically lenders of last resort (especially the IMF) - they are the last hope for countries in such dire financial shape that they can't get anyone else to lend them money.

Ignoramuses like you jump from seeing a correlation between financial failure and borrowing from the IMF/World Bank, to the utterly backwards assumption that these organizations are the ones causing the financial failures of their borrowers, when what they are actually doing is handing out lifelines to hard-pressed countries with nowhere else to turn. If borrowing from the IMF and World Bank was such a horrible thing, someone forgot to tell the South Koreans, who were bailed out by the IMF and World Bank in 1997.

https://www.koreaherald.com/article/3212370

I guess the IMF bailout of the UK in 1976 is why Britain is now a hellhole worse than Nigeria, right?

https://en.wikipedia.org/wiki/1976_sterling_crisis

Nigeria wouldn't be such an economic basketcase if so many Nigerians weren't so quick to scream their firmly held opinions on matters they know nothing about.

Treadway:
yet more babble and vapid nonsense.

Show yourself approved, why dont you?

Answer the question up there, if you actually have any sense at all, or just go chew on some damn corn, and spare us all the maladorous BS🤣

Yawn. More foul-mouthed idiocy from a föol, full of sound and fury, signifying nothing.

Treadway:
Lol. Agbado! When you are ready to apply your brain, come back and tell us how T-pain managed to increase domestic debt by 45trn naira and foreign debt by around $20b all in just one year, despite supposedly removing electricity fuel, and education subsidies, and also turning the naira to tissue paper.

Shouldn't debts be shrinking and more money saved per your theories?

Show yourself approved, why don't you? No be by English, you no Sabi English rish LordAdam even in the off-chance say you sabi am pass me🤣

And here we see a sterling example of all the sorts of inanities I was referring to. You should feel proud of yourself - it's quite an accomplishment to display every single idiotic issue I raised in your incoherent, abusive ranting.

While these initiatives are praiseworthy, the question of how likely they are to be emulated will come down to one thing: whether the creators of new mini-grids are allowed to charge enough to recover their costs, let alone make profits. No matter how many model schemes are sponsored by philanthropists, charitable bodies and NGOS, no power initiative in Nigeria has the slightest chance of succeeding unless power can be sold for more than it costs to generate and distribute.

benardtotti:
Read all you quoted , the same imf you claimed Milei shunned assisted him with financial services, this discussion in above your mental capacity obviously.

As you've noted, some characters are simply not worth responding to, that self-styled "excellency" being one of the premier examples on this forum.

nairalanda1:
Yea.

It's the internet. Everyone is right.

I won't engage them any more.

You put up a valiant effort, but what I've learned from years of wasted effort is that there are few creatures as uneducable as Nigerians faced with economic realities they would prefer to deny. When confronted with matters of simple logic, they either resort to special pleading ( "economic laws that work everywhere else don't apply to Nigeria" ), reach for tired old tropes about "corruption" (as if zero corruption would make 1.3 million bpd last as long for a population of 200 million as 2 million bpd used to for 70 million), or, when these gambits fail to blunt the critiques they don't want to hear, they sink to ad hominems ( "agbado" ) or shopworn conspiracy theories about institutions like the IMF and the World Bank (even though the ranters typically don't have the first clue what these institutions actually do).

Sad to say, Nigeria is in the economic mess it is because its leaders are either drawn from the same mass of economically illiterate, entitled loudmouths, or they are so scared of the wrath of said loudmouths that they lack the courage to do what is right for fear of protests and the inevitable, idiotic agitations for some strongman in khaki to leave the barracks and come "save" the country from "corruption" (as if soldiers have ever been less corrupt than civilians). Nigerians have exactly the calibre of rudderless, unprincipled leadership they want and deserve, quick to pander to their stupidest beliefs even when they know full well said notions are impossible (just look at how Atiku and Obi have been pretending that subsidy abolition was done the "wrong" way, even though all of them were for immediate abolition during the electoral season).

Frankly, it's a waste of time trying to put forward reasoned argument on this forum. Most participants are too stupid and uncouth to be worth all the trouble.

Lungs:
Yoruba pastor scammers

What does "Yoruba" have to do with anything?? I guess it would be alright with you if they were Igbo pastor scammers instead? Or do you really believe all the Igbo "pastors" out there preaching the exact same "give me money" message are somehow any better? Tribalism has wrecked your mental faculties.

Sultty:
the cowry card shouldn't be made compulsory like one guy told me cash transfers and cash should also be valid as a method of payment

Nonsense. What you're suggesting opens the way to all sorts of corrupt practices that will rob the service of revenue.

Calitoscassius:
well.. as it appears Adolf hilter never commited any crimes, we were only told he did and you believed

From the above, it should be clear to anyone else how much trust to place in your arguments. If you can engage in denial of the Holocaust, one of the most overwhelmingly documented crimes in history, a crime boasted about by the perpetrators before, during and after they were carrying it out, what can't you deny?

https:///3rsj2v2f
https://en.wikipedia.org/wiki/The_Holocaust
https://www.yadvashem.org/docs/hitler-testament.html

You might as well say that the claim that "2+2=4" is just propaganda made the evil "Lagos-Ibadan media" ...

Calitoscassius:
Do you have any proofs that Mr Kanu kiiled anyone personally? Don't be stupid. Did you witness any killing by Mr Kanu himself?

By your line of "reasoning", Adolf Hitler was also a saint, since there is no record of him ever killing anyone. It is an established principle of law that the one who gives the order to commit a crime is just as guilty as the one who complies with the criminal order.

You sound like an ignorant morron! your life is miserable already.

How funny that the insults you fling at someone else turn out to capture your own situation so perfectly!

kenny714433:
When Calabar section? Still soon?

Scammers!

They're using 1 year to construct 47KM of a highway that's 700KM.

The portion being constructed is just a plain topography that needs just excavation and filling.

When it gets to Akwa Ibom/Cross Rivers section that would need Cut and fill, river fillings, bridge construction and massive swamp filling, it will take them 1000 years.

Reasons they're running away from this section. They just want to construct road through the Yoruba states and abandon it.

What a dastardly plot by that renowned Yoruba bigot named David Umahi!

Your tribalistic paranoia is over the top. You and the 11 other nitwits who "liked" your post are in serious need of psychiatric help.

TinubuCriminal:
It's restricting my ability to share images of cone shaped structures and explain them in detail.

Our youth's education depend on it.

It's precisely because of trolls like this one that the image restriction is such a welcome and long overdue measure. It's tiresome having to scroll past the same old repetitive, gigantic images which add nothing to discussion.

Bestmanfornow:
Graph with "Made in Aba" statistics excluded

And here we see another shining example of "the most intelligent people", who rushes to "prove" this self-deluding claim with a graph on which figures are reported to 3 degress of accuracy, without any error bars, and in a confusing format that uses colors to separates males from females, instead of simply adding the gender information alongside the "tribal" labels.

Worse yet, there is no information on how the data was collected. Was it by sampling? If so, how big were the sample sizes used? Was it by an exhaustive census? Who knows? It's not as if the methodology matters, right?

The crowning glory of this ham-fisted, crude effort at propaganda is that you haven't even bothered to provide a link to the source of your dubious graph, so confident are you in your self-proclaimed brilliance that it never occurred to you others might ever ask ...

Vision101:
Let's get this straight:
Debt servicing means payment of interest and matured principal.

The debts were incurred by previous regimes.

This report shows why there's scarcity of fx. When almost 66% of outflows are used to service debts, only 34% is to meet other obligations. This definitely affects the exchange rate.

The good thing is that the country has capacity to meet her obligations. This will give confidence to creditors and investors.

The current regime must everything to minimize borrowing so that liabilities are not on to future regimes.

Your analysis is correct but incomplete. The primary drain on the FG's budget is the fuel subsidy, which is still in place (even though many Nairalanders are either too ignorant to understand this, or too unscrupulous to let it get in the way of their propagandizing). This subsidy is currently eating up 4 times the country's health budget, more than 2 times its education budget, and nearly half of all government revenues.

The likes of the OP are quick to condemn Tinubu for supposedly "wrecking" the economy by "abolishing" the fuel subsidy, but that would be entirely the wrong basis upon which to criticize Tinubu's government. If Tinubu is to be faulted for anything, it is for his political timidity.

Tinubu should have completely deregulated the petroleum market once and for all when announcing that the subsidy was "gone", so that there would have been no chance of relapsing into the same old bad habits.

Tinubu should have coupled this deregulation with a targeted program of financial support to the poorest Nigerians, and to pay for this program, he should have set up an ambitious privatization program, to bring in additional revenues while encouraging FDI (which would have helped prop up the Naira).

Finally, Tinubu should have appreciated that you can't ask voters to make personal sacrifices without leading by example, meaning no new private jet for him, and no new perks for any members of the NASS - if anything, this should have been a good opportunity to trim wasteful spending on things like "constituency projects" and "security votes".

All of these steps would have required annoying powerful political interests, but Tinubu lacks the guts to do so because he knows the only reason he won the election was thanks to Peter Obi playing the spoiler for Atiku. Of course, none of the embittered tribalists who are quick to blame Tinubu for decades of profligate subsidies will ever admit that their tribal champion is to blame for electing the man they harbor such irrationally intense hatred for.

Jayjayconcept:
It was 3 against one..the moderators were wrong to fact checked him during the debate.Kamela acted her script so well and dodge some questions. the race is tight now..

Yes, of course, they should just have allowed him to spew lies at will! Anything less would have been so unfair! Trump is a ridiculous crybaby, and any black person supporting this senile racist is sick in the head.

There are only 2 categories of people on Nairaland who either rush to Putin's defence on every thread, or are quick to upvote the buffoons who do: those too stupid to tie their own shoes in the morning, or those being paid by Russian troll factories to spruce up Putin's image.

Threads like this one have only one use - they help to identify all of the Nairalanders belonging to the aforementioned groups. If only Nairaland also had a "block" button, so one could completely filter out all comments being made by this set of shills and dimwits, considerably improving the user experience for everyone else in the process.

Cocolatti:
The man was rich before becoming a Governor.

So what? Does he have to rub that wealth in the face of the impoverished masses who voted for him? If the money he spent on that car was burning a hole in his pocket, couldn't he have used it to fund any number of charitable causes? Since when has modesty and restraint ceased to be virtues?

It's no wonder Nigerian politicians think they can get away with anything, seeing how many voters are like you, quick to rush to their defence on any occasion.

The same idiots who constantly complain about the cost of governance are the ones now bleating about a ridiculous constitutional requirement mandating a minister from every state! If you were all serious about wanting less costly government, you'd be demanding that the number of ministers be slashed to 1/3 or less of the number there are now, instead of making the preposterous claim that the lack of a minister from one state means the state is somehow "not represented" in the government. Isn't that what senators and house members are for?