₦airaland Forum

This is Tuchel on Havertz...

Here is Tuchel on Mount's performance...But some peeps in here think he's bread and butter. Mount almost everytime, produces a stinker and is just lucky to be Brit, so he has the media cut him some slack.

While Havertz hasn't been phenomenal, I'll sure pick him a ton of times ahead of the headless chicken Mount.

Denn:
You are literate by half.

So you just pay your naira into your account and it magically converts to USD?

The person you quoted did a good job of explaining in lay man terms yet you are still adamant with these your iya Sadia analysis?

That guy is clearly irredeemable. Lool

TimeSpaceWizard:
You are not crazy, you are silly.

The parallel FX system in Nigeria has birthed too many complexities and all you do is restore the default system as all other countries do.

Do you need to buy dollars and put in your dorm accy before exporting, Only in Nigeria. But that's total bullshit.

When you close all dorm accts and allow naira to be converted at CBN rates via different trade instruments it will be exactly how other countries trade.

For now, you must continue to lament.

Lmao! What are you saying? You don't even have any idea of how importers and maufacturers pay for their goods/services.

This guy, did a great job at detailing out how it works but you're hell bent on taking yourself on a ride of folly:

jjman2322:
This is why a good business school is needed in Nigeria.. People dont understand Economics 101

First of all, CBN official rate is like 410, so converting any FX inflow to naira means you will get it at 410... Now let me ask you, your uncle in USA has $10,000 for you. Will you tell him to wire the $10,000 to nigeria for N4,100,000, or will you find a third party who needs to pay his supplier in China,India, and sell it to him for 550 (N5,500,000) ? This is whats basically happening.

As someone in the manufacturing, let me try and explain whats going on. There is severe shortage of USD. Lets assume you need raw materials worth $500,000 for the month, you may be lucky to get $5,000 in a month from your bank/cbn (through LC OR BILL FOR COLLECTION), so you now have to go to blackmarket for the rest.

Abokifx just publishes prevailing rate.. Abokifx is irrelevant when it comes to demand and supply.. Im too tired to explain more, but the solution is simple.. CBN needs to provide more USD to the big companies who need it, and the black market price (REAL DOLLAR PRICE) will drop..

The reason why goods are going up in prices (TV, PHONE, AC, FOOD, etc), even though officially dollar is 410, is because NOBODY IS GETTING 410, or even when they do its minimal.. Yes you can get PTA (Travel allowance) from your bank, but thats only like $4000.

The real problem is when as a manufacturer you need $1m.. Good luck getting that in 10 years....

There is real demand for USD from local companies here for at least $500M a day, and CBN is barely giving 10% of that.. See the problem

How much do you think NESTLE spends daily on USD, or Nigerian breweries... Quick example, indomie is made with tapioca starch, Potasium & sodium carbonate, sodium tripolyphosphate, riboflavin which are imported.. They must probably use $millions weekly just for import... So they go to black market = price jump in finished product... Hope i made some sense..

CooKeed:
And how do you Nigerian banks settle the correspondent banks? In Naira?

With respect, I don't think you fully understand how these things work.

That guy is probably a student, flexing his basic economic knowledge because nobody who understands/trades in the day to day Nigeria, will make such spurious posits...I mean, look at this take here loool:

TimeSpaceWizard:
Any bank or Nigeria banks. I have to repeat this again and again. I said all your complexity of FX is due to the falsely manufactured FX operations by the CBN.

You do not need to have dorm accts in any other countries to import stuff.

Take away the dorms and parallel FX system and the default system is easier using corresponding banks to handle trades

TimeSpaceWizard:
To solve Nigeria's problem you must shut down bdc and convert all fx to local currency. Full stop.

Your fx need is not a cash call, it is handled by correspondence banks in the countries you are importing from.

Lmao! You keep giving yourself away as someone who doesn't know jack.

I have Naira and want to settle for goods in China, quoted in USD. Who will collect my naira in exchange for the USD? What rate will the person/business who collects that naira, use? The CBN rate that will mean he'll loose the value of that naira?


You're most likely a high school student with your elementary takes.

TimeSpaceWizard:
You do not need bdc to import anything. You do not nerd dorm account to import anything. As a matter of fact I am sending a memo to CBN today to consider converting all dorm reserves to naira at CBN rate and closure of all bdc.

You do not need to source for usd to import, it is only in Nigeria you get all these parallel fx system. Simply pay your naira and get the dollars from bank at CBN rate to be paid out.

Having bdc and dorm accts destroyed Nigeria fx sector and must be stopped.

Now everyone is just scamming their way to glory under the pretext of affiliate marketing and importation and manufacturing. I am manufacture 3 products and I have businesses offshore too.

I am not a novice

This is a ridiculous take. Absolute rookie take, that shows you're lying about being an importer/manufacturer. No single manufacturer/importer worth their onions will make this wild and ridiculous claims.

You will convert people's dollars to naira. How much are people holding in their dorm accounts? When you convert people's dollar to naira, you probably solve for just a fraction of the existing FX need. Now, no one will keep dollars in their accounts or in Nigeria. How will you solve for the FX needs which is in excess of $500 million monthly going forward? Where will the CBN get the dollars to meet up with the FX shortage?

Someone clearly explained why the CBN cannot meet the daily FX needs of importers & suppliers, you're here talking like you didn't do basic economics in school.

You're a complete novice my friend.

jjman2322:
This is why a good business school is needed in Nigeria.. People dont understand Economics 101

First of all, CBN official rate is like 410, so converting any FX inflow to naira means you will get it at 410... Now let me ask you, your uncle in USA has $10,000 for you. Will you tell him to wire the $10,000 to nigeria for N4,100,000, or will you find a third party who needs to pay his supplier in China,India, and sell it to him for 550 (N5,500,000) ? This is whats basically happening.

As someone in the manufacturing, let me try and explain whats going on. There is severe shortage of USD. Lets assume you need raw materials worth $500,000 for the month, you may be lucky to get $5,000 in a month from your bank/cbn (through LC OR BILL FOR COLLECTION), so you now have to go to blackmarket for the rest.

Abokifx just publishes prevailing rate.. Abokifx is irrelevant when it comes to demand and supply.. Im too tired to explain more, but the solution is simple.. CBN needs to provide more USD to the big companies who need it, and the black market price (REAL DOLLAR PRICE) will drop..

The reason why goods are going up in prices (TV, PHONE, AC, FOOD, etc), even though officially dollar is 410, is because NOBODY IS GETTING 410, or even when they do its minimal.. Yes you can get PTA (Travel allowance) from your bank, but thats only like $4000.

The real problem is when as a manufacturer you need $1m.. Good luck getting that in 10 years....

There is real demand for USD from local companies here for at least $500M a day, and CBN is barely giving 10% of that.. See the problem

How much do you think NESTLE spends daily on USD, or Nigerian breweries... Quick example, indomie is made with tapioca starch, Potasium & sodium carbonate, sodium tripolyphosphate, riboflavin which are imported.. They must probably use $millions weekly just for import... So they go to black market = price jump in finished product... Hope i made some sense..

Great analysis for anyone who is confused or questioning the black market rates: It's simply the principle of demand and supply.

But then, the CBN pumping more dollars into the market is not the ideal solution, as they do not have control over all the dollar inflows. Plus the bottleneck and bureaucracies that comes with disseminating the dollars to the banks and down to the end users (importers, manufacturers etc).

The only true solution is to industralise Nigeria: The Chinese/Indian model. This will mean that the pressure on the dollar, reduces drastically as there will be less and less people needing the dollars, thus forcing the rates downwards or at best, stabilising the rates. Plus it means, we can export and also float the naira offshore.

This is nothing new. It was expected. As with every Nigerian politician, they have zero morals or ideology. The onus is on Nigerians to wake up.

CBN has reportedly shut down accounts belonging to AbokiFx on the basis of publishing rates as it violates the National Intelligence committee act of 2004.

Nchabuomo:
I'm not triggered. As man, if your turnoff is someone else's source of livelihood (legitimate) then you and that girl dey the same Whatsapp group and perhaps need some more education.

Livelihood o wetin person dey use chop and live dey turn you off...Lol Okay

Oh please! Preferences are based off personal experiences, upbringings, value systems, world view & societal effects. E.g Some women would turn down sailors because they had experiences growing up and saw how the women were taking care of kids with the man away from home for weeks, if not months. This shapes their perceptions and they would never say "Yes" to sailors. Does that mean other women won't get married to sailors? Or that sailors are not legitimate?

It's same way for men too. I personally would never ask a girl who sells boxers, pants, shoes on whatsapp or Instagram under the guise of entrepreneurship out. Infact, the moment you can't tell me what exactly you do (blue/white collar job), I cut the conversation. This is my personal preference and does not in any way mean other men won't find such women attractive or give a hoot about their careers.

Bottomline is, we all (you included) reserve the right to make our preferences and women too, sure possess same rights to a yes/no based on the career of the suitor.

Nchabuomo:
This is just shallow! How can someone's source of livelihood turn you off? Are you a fool or an idiot or rather both?

Someone doing a legitimate business, trying to make their life better is a turnoff because of the nature of the legitimate business.....

Naa your sense no complete. It's one thing to even think about it, it's another thing to put it in a public forum.

I work from home group ....Lool .. you are actually daft!

And I don't mean this as an insult, you have an internet enabled phone, use it to get some education. Goodluck!

What is this man? That post shouldn't trigger you. As men, we have the kind of women we are attracted to and those who's "career" is a red flag or a turn off for us. For some men, they'll never be seen with actresses, hotel receptionists or bar tenders because they consider it a turn-off and red flag. It's same way, women have the right to be turned off by certain careers for men.

The OP's post is addressed to the female folks, I wonder why the men here are triggered by it.

erusen:
how on Earth the mount have a good performance oga,not be match wey I just watch finish for viewing center we dey talk about so?

It is beyond pathetic and outrightly silly at this point. In a bid to push their yeye agenda, they begin to make mockery of themselves.

NinjaMetahuman:
or may be you need to remove the stupid hate from your eyes and watch the darn game without agenda first.

You didn't add Lukaku (who actually won it) but snuck in an ineffective and wasteful Mount? Some of you are funny.

Shukusheka:
A reminder someone on this thread dared to compare Azplicueta to Wan Bissaka.

How would anyone compare Azpi to that rookie?

donstan18:
Not useless

agreed!

donstan18:
You saw that?

Even after Mount rolled on the floor to win that ball for him.

Mount has been sh1t though.

BigBashiru:
[s]It isn't.... Nigeria is much better than the United States just that inferiority complex won't let you see it[/s].

"Nigeria is much better than the US". Statements from almajiris who sink their knuckle head into cow dungs. Mkpi!

BigBashiru:
[s]They call ur country shit hole and you swallow hook line and sinker[/s].

Keep quiet! Isn't your corntree worse than a shithole?

thebosstrevor1:
I swear nothing dey your head than to shout BMC from morning to night

Today, Dollar is now 543 naira to $1.

https://punchng.com/breaking-naira-hits-all-time-low-of-543-against-dollar/#Echobox=1631204981-1

Nigeria is an import dependent country, which means the rising dollar costs, will impact almost every service and products, including CoS for data from the telcos. Inflation is shooting up at double digits, naira is wobbling whereas, income and earnings are still constant at 30k minimum wage.

But you Sai Babarians believe that there is no connection between earning power and cost of purchasing data. Awon eleribu!

ivolt:
Housing prices are skyrocketing everywhere.


Nobody is talking about highbrow areas.
Speak to an estate agent about the cost of a decent self-contain, two-bedroom and three-bed room flat
in any area that is not crime-infested and come back with your report.
Do you think it is the elites that are living in the type of houses I listed above?


You are funny, who told you I am talking about Lekki?
I talked about rent, not purchase.
I mentioned state capitals and your mind immediately goes to Lekki.
How does that follow?
FYI, poor and middle class also reside in your magical Lekki.
If your claims are correct, then Lagos could not exist as a city.


It is always entertaining when people pull random numbers to make a point.
What exactly is squalor to you?

Nigeria is the poverty capital of the world. Atleast 80 million live on less than $1 a day. Costs are rising everywhere according to you but Nigeria's inflation is at freaking double digits 17%, one of the highest in the world. 33% of Nigerians, that is about 70 million Nigerians, are unemployed. But you're talking about a non existent elite? Minimum wage is 30k per month, less than a freaking $100 per month but you're talking about a some people earning 5 million per month like it's a norm?

You're asking me what squalor means? 2 years back, Nigeria overtook India as the poverty capital of the world and has maintained that same position. What could be worse than being the poverty capital of the world? Or does being the poverty capital of the world not mean highest numbers living in squalor? Keep fooling yaself

thebosstrevor1:
[s]How does this reply relates to the simple questions i was asking you?[/s]

Werey say na simple questions, lmao! Who you dey ask yeye question? Your fellow BMCs? Your country is the poverty capital and less than 55% have access to the internet, for obvious reasons...POVERTY. But you dey ask question, lmao!

ivolt:
The elite are a negligible minority, yet, housing value continue to skyrocket in most Nigerian capitals.
I suppose, it is ghosts, those in excruciating poverty or non-existent middle class that are renting those houses.

Which houses are you talking about? Mansions in Maitama, Lekki or Ikoyi? Lmao!!!

You're living in a bubble. For every 1 mansion in Lekki, there are hundreds of run down houses in the city centres or outskirts, where Nigerians are living. Go and look at the population of the highbrow areas and compare with the rundown parts of the city providing cheaper alternatives, so it is still an extremely negligible amount.

Inflation, poverty, increased cost of living is hitting Nigerians hard and many are moving to cheaper alternatives. Don't be fooled by a handful of criminals or fraudsters buying out houses in Lekki, there are millions more living in squalor in Ikotun , Alimosho, Ikorodu etc.

thebosstrevor1:
[s]Another beautiful nonsense. One single sense you no make.

So according to your logic, Americans do not want cheaper data because they can afford high prices of data in America

According to you, if they pay for higher data price, it won't hurt their pocket, it won't make them more poorer or their expenses won't increase.

So the reason data is cheaper in india is not because of lot of competition in the market but because of the baloney you wrote down.

I am very curious, Which kind school you go?[/s]

You're irredeemable, lmao!!! Americans are top 3 in the world when it comes to Internet usage. Your country is not even anywhere near. Your country has the highest population in Africa, which should translate to impressive numbers but you're behind some African countries with way less population.

India, China and the USA make up the top 3 but your impoverished country is not anywhere near but you're comparing countries doing impressive numbers, as a result of access, cost & standard of living.

Maybe you need the go-ahead from your propaganda whatsapp group to believe that there is correlation between poverty, inflation, standard of living, cost of living anf the poor numbers, Nigerians post at the global internet access scale. Nitiwt!

thebosstrevor1:
[s]So what will the people use to purchase, is it with paper or with currency? Mr dumb, purchasing power is all about currency

It seems,you don't what you are talking about.

I am going ask you again, why is data cheaper in india than the United states?[/s]

Lmao! Being a Sai Babarian, is a mental disability truly. People will use currency to purchase the data but the pricing of that data vis-a-vis their earnings, is where the disparity comes to play. Americans have moved beyond talking about cheap data, as that is the least of their problems because the purchasing power of Americans means, they can afford data.

Data is cheaper in India than the United States on face value but the average American earns way more than an Indian, so that same cost of data can be covered by the earnings of an American easily, so it is not expensive to an American.

samsard:
What's the correlation between having less than 1000 people earning 5.2/month and being the poverty capital?
There are more millionaires in Nigeria than you think.

There are millionaires everywhere, even in war torn Afghanistan. There is a strong correlation between having less or more than 1000 people earning 5.2 million and being the poverty capital of the world because that figure is negligible. The disparity in income, wages & living standards, which puts over 80 million Nigerians in excruciating poverty, the other lower millions are those above the povertyline and the almost non existent middle class, means that the elite is a negligible minority.

thebosstrevor1:
[s]Beautiful nonsense.

Now tell me why in indian, internet data is cheaper than the United states?

Does indian rupee have a higher purchasing power than the United states dollar?[/s]

You nitwit, it is not the power of the currency but the purchasing power of the people. Data can be cheaper than the United States, but same data won't be considered expensive by an American because the average American earns decent wages to cover for that cost. The same cannot be said about Nigeria, where the data might be cheap for an American or Indian but expensive for a Nigerian who's minimum wage is 30k monthly.

thebosstrevor1:
[s]Is the data you are using priced in dollar?

How come India has a cheaper data price than the United states.

Is the purchasing power of the indian rupee more than the purchasing power of the United states dollar.

Stop arguing like you drank ogogoro[/s]

There is something called a benchmark. Your country's trade, earnings, standard of living & economy, is benchmarked against the dollars. It's why your country is the poverty capital of the world because a majority of the citizens live on less than $1 a day. So your question is preposterous and a foolish one.

The purchasing power of an American means they can conveniently afford data while the purchasing power of Nigerians, have continued to dwindle since the despotic Buhari came to power, which means data, food, living, is becoming more expensive as more and more Nigerians take a hit in their income.

thebosstrevor1:
[s]But this your analysis is RUBBISH.

What has purchasing power got to do with internet data.

That same data showed that India had the cheapest data because of lot of competitors. Is the purchasing power of india more than the United states

The cost of data is expensive in the United states because of monopoly not because of purchasing power[/s]

You should actually be kicked out of this place. Your posits are only fit for worthless BMC whatsapp groups. How can you ask what has purchasing power got to do with data? Is data shared for free? Don't people pay for it? Can an almajiri on the streets of Kano, or an individual in an IDP camp afford to pay for even dirt cheap data? Can someone who is struggling to survive on 30k a month with rising costs, afford to splurge on data to access the web conveniently?

samsard:
Oga, I don't have that data. But if you think only 1000 people in Nigeria earn that much, then you really underestimate the elite.

Which elite? What's the ratio of these elite to the impoverished Nigerians? Do you realise we're the poverty capital of the world?

Happened:


Am using hyflex net ... By MTN.

Cost 20k per month ... Is unlimited.

120GB Data Cap !!!

After your data don finish ... The speed reduces to 520kb/s.

Is indeed unlimited.

Written by Illikannu Donald Chukwuma

How can something be unlimited and still have data cap?