₦airaland Forum

PROVERBZ:
entertainment is another sector on its own.
While Nigerian youth with the little electricity they have are exploring their options in the entertainment industry, getting invited to kenya to perform for some mula, Kenyan youth are under Nigerian music videos and making comments like 'i want an igbo husband' I'm Kenyan but I feel nigerian' 'black excellence' 'nigeria makes the best music, I'm Kenyan show me love with some likes' 'any other Kenyan here?'

Don't mind the bastard!!!

What is the essence of electricity in the absence of users which include the musicians I am talking about??


Did Wizkid or Naira Marley or Burna Boy even say there's no electricity(even if it's an alternative source of electric power) to use?

The point is Nigeria has far more talented and intelligent people than Kenya.


Even the terrible politicians apply intelligence in whatever goddamn game they are playing.



So, it's not a matter of an inferior number of smart/talented people.

I think it's the competition in every aspect of life that's too much in Nigeria.

Too much competition is terribly affecting the economy most especially the competition in politics (a game of killers).


A philosopher like me knows Nigeria cannot be developed just because there are many smart/talented people.


It takes more than that for a nation to be developed.

Still in Vipingo.

Pazuri estate.

HellVictorinho:
Don't mind the bastard!!!

What is the essence of electricity in the absence of users which include the musicians I am talking about??


Did Wizkid or Naira Marley or Burna Boy even say there's no electricity(even if it's an alternative source of electric power) to use?

The point is Nigeria has far more talented and intelligent people than Kenya.


Even the terrible politicians apply intelligence in whatever goddamn game they are playing.



So, it's not a matter of an inferior number of smart/talented people.

I think it's the competition in every aspect of life that's too much in Nigeria.

Too much competition is terribly affecting the economy most especially the competition in politics (a game of killers).


A philosopher like me knows Nigeria cannot be developed just because there are many smart/talented people.


It takes more than that for a nation to be developed.

Mad respect to Naija and music, You're undisputed giants in that sector maybe after South Africa.

Kruptozombie will approve this.

Shma2020:
Still in Vipingo.

Pazuri estate.

Your country can never be paradise no matter what you post here.

HellVictorinho:
Your country can never be paradise no matter what you post here.

Cool story bruh.

PROVERBZ:
entertainment is another sector on its own.
While Nigerian youth with the little electricity they have are exploring their options in the entertainment industry, getting invited to kenya to perform for some mula, Kenyan youth are under Nigerian music videos and making comments like 'i want an igbo husband' I'm Kenyan but I feel nigerian' 'black excellence' 'nigeria makes the best music, I'm Kenyan show me love with some likes' 'any other Kenyan here?'

That sounds more like Kenyan youth under the influence in the club.

HellVictorinho:
Don't mind the bastard!!!

What is the essence of electricity in the absence of users which include the musicians I am talking about??


Did Wizkid or Naira Marley or Burna Boy even say there's no electricity(even if it's an alternative source of electric power) to use?

The point is Nigeria has far more talented and intelligent people than Kenya.

Does Burna boy or Naira Marley look intelligent to you? Emotions aside.

gallivant:
Does Burna boy or Naira Marley look intelligent to you? Emotions aside.

Expect 3 pages from this

Shma2020:
Expect 3 pages from this

gallivant:
That sounds more like Kenyan youth under the influence in the club.

I'm not even kidding you. Go under any Nigerian music video on YouTube and uld see those type of commentd.
They usually have a tatse they like the kind of music people like omah lay, chike and joeboy produce.

Shma2020:
Vipingo city in Mombasa.

Wow,wow,wow vipingo estate just like Tatu.

Shma2020:
More estates in vipingo.

Wow looks like a trailer park

rvp20182:
You dont even know the difference btw commercial lending rate and base rate.
Nigeria base rate - is now 11.5 percent
Kenya base rate - is 7 percent. This is very very good.

Base rate - this rate that Nigeria central bank or kenya central bank lend to BANKS.

Now move on commercial lending rate. This normally base rate plus bank margins plus inflation rate.
This is what your bank will lend to you or me as customers.

For kenya the data is here https://www.centralbank.go.ke/commercial-banks-weighted-average-rates/
Commercial rate in kenya - deposit 6 percent - savin 3.5 percent- lending 12 percent - and overdraft is 11 percent. This is very good.

Now Nigeria commercial rate - like Ghana - HOVER around 25-30 percent
In fact your banks only quote monthly rates - to get commercial rate times with 12.

FInd the data here - hovering from - 12 to 28 percent - for some like Heritage Bank it straight hilarous 27-30 percent. Zenith is 13-30 percent.
https://www.nigeriagalleria.com/Galleria_Finance/Bank-Lending-Interest-Rates.html

My goodness! Naijjans,stop denying and deflecting-you may yet actually learn smth!

gallivant:
Does Burna boy or Naira Marley look intelligent to you? Emotions aside.

Yes

Abuja city train(light rail)- compete if ur zoo can.

Kikuyu1 pls kindly enjoy more Potemkin village.

Next year Nairobi infrastructure will be up there. That expressway plus upper hill viaduct; plus BRTs and now the commuter train is starting to function; would be nearly there;

This why I tell the South African - that 10yrs from now - Joburg will be in the shadows of Nairobi - but he doesn't believe it.

gallivant:
https://www.jamiiforums.com/data/attachment-files/2021/08/2868532_1628015374195.png

Vlain:
Wow,wow,wow vipingo estate just like Tatu.

When will Naija get there?


https://www.youtube.com/watch?v=zP2ozoD_-eY

Imagine borrowing at 20-30 percent and with inflation at 16 percent - you need to basically invest in something that will give you 50 percent profit annually just to break even.

kikuyu1:
My goodness! Naijjans,stop denying and deflecting-you may yet actually learn smth!

gallivant:
When will Naija get there?


https://www.youtube.com/watch?v=zP2ozoD_-eY

When will Nigeria get to estate.what rubbish.
We have those in every states across the nation.

Mkenya2019:
https://www.imf.org/en/Countries/KEN
Kenya 2021 Projected Real GDP (% Change) : 7.6

Again the less we talk about Nigeria macroeconomics the better for you

IMF is known for giving some unrealisable growth forecast. WB is giving you 5%. Let's wait and see. But this is almost 4th quarter of 2021 and you are probably ~4%.

I can see you don't feel comfortable anymore about discussing your appalling debt situation. The better for you and your IMF colony.

Vlain:
Kikuyu1 pls kindly enjoy more Potemkin village.

They can't match this. I am not sure that guy knows the meaning of Potemkin's village.

1) Kenya economy:
Let's wait for the ongoing rebasing. KNBS have yet to release 2020 Q4, 2021 Q1, and 2021 Q2. We are in Q3. But Central Bank of Kenya does monthly economic reviews - and they are upbeat of sharp economic recovery. Private-sector data is also very positive. IMF has adjusted kenya growth to 6.6, World Bank are 5.5, Kenya Treasury 6 percent. Overall at least the economy has recovered sharply.

2) Kenya debt sustainability is improving as COVID-19 has helped reduced recurrent expenditure (no travel for civil servants, work from home). Overally debt to servicing ratio is 35 percent (which is good). Kenya could also have primary surplus next year or so - a first in 20 years. Once the economy is rebased - GDP to debt - will be back to healthy state.

Kenya in terms of economic policy wonks is far ahead of many in Africa. Just concentrate on your hopeless country.

https://www.bloomberg.com/news/articles/2021-06-30/kenya-could-post-primary-surplus-in-2024-budget-world-bank-says

https://www.bloomberg.com/news/articles/2021-08-05/kenya-forecasts-economy-to-expand-at-fastest-pace-in-a-decade

obaaderemi:
IMF is known for giving some unrealisable growth forecast. WB is giving you 5%. Let's wait and see. But this is almost 4th quarter of 2021 and you are probably ~4%.

I can see you don't feel comfortable anymore about discussing your appalling debt situation. The better for you and your IMF colony.

obaaderemi:
They can't match this. I am not sure that guy knows the meaning of Potemkin's village.

I bet he doesn’t.

Mkenya2019:
I used to think you understood even the BASICs of economic.

Nigeria's education system is total crap.

What was capped was a rate ABOVE or Below THE BASE RATE. That is normally bank profit margins - they borrow from depositors and central banks - and make money from the margins above the base rate.

For Lending - that was 4 percent above the base rate. That time base rate was 8.5 (it changes every few months) - so typical banks were allowed to max charge at 13.5 -(8.5) plus 4- ( Nigeria max now is 30 percent shocking!!). The same for deposit - I think it was 2 percent below the base rate.
So Kenya commercial banks could lend max of 4 percent above the base rate - and pay depositors 2 percent below the base.

When capping was remove the lending has remain at 13-15 percent - so basically we are doing fine - IMF or not - we already knew it was bad because private lending had reduced.

PLEASE understand Base Rate/Money Supply Rate/Central Bank Rate. In normal countries it determine many things.

Kenya historical interest rates are available - both the base rate and commercial rate - rarely has it gone beyond 15 percent -except in 93/94 when Kenya had serious economic crisis as donors who then funded more than 50 percent of kenya budget then - withdrew aid - throwing Kenya economy into a spin - starting with forex shortage.

At kenya worst in 93/94 - we saw Nigeira normal interest rate of 30 max.

Kenya when some banks went to 20 percent ( I think it was oil crisis or forex risk) - people nearly revolted - hence the capping.

In any case many kenyans take loans from saccos - which normally do 11 percent - and saving rate of 9 percent.

That is why kenya cooperative is largest in Africa.

We cannot borrow at above 15 percent - serious money - and hope to make a profit. It TOTAL BONKers. shylock rates.

This is all hogwash.
The lending rate cap failed to achieve its aim because your banks simply stopped lending to small businesses and big businesses. They felt the lending rate was too low.
Your government removed it and it was covid period, so lending was frozen. This is why Nigeria has a bigger and more viable private sector than Kenya. Nigeria is an oil exporting country but check our stock exchange, the biggest companies there are not related to oil at all.

What matters for such companies to thrive are the prime lending rate (which is clear you still don't understand. You are free to look it up) and the willingness to lend(this is missing in kenya. Your banks are small.)

The latest figures I could get on lending rate comparison among countries is attached below. You can see Nigeria and Kenya are at par. Yours was slightly higher in June 2021:

Mkenya2019:
1) Kenya economy:
Let's wait for the ongoing rebasing. KNBS have yet to release 2020 Q4, 2021 Q1, and 2021 Q2. We are in Q3. But Central Bank of Kenya does monthly economic reviews - and they are upbeat of sharp economic recovery. Private-sector data is also very positive. IMF has adjusted kenya growth to 6.6, World Bank are 5.5, Kenya Treasury 6 percent. Overall at least the economy has recovered sharply.

2) Kenya debt sustainability is improving as COVID-19 has helped reduced recurrent expenditure (no travel for civil servants, work from home). Overally debt to servicing ratio is 35 percent (which is good). Kenya could also have primary surplus next year or so - a first in 20 years. Once the economy is rebased - GDP to debt - will be back to healthy state.

Kenya in terms of economic policy wonks is far ahead of many in Africa. Just concentrate on your hopeless country.

https://www.bloomberg.com/news/articles/2021-06-30/kenya-could-post-primary-surplus-in-2024-budget-world-bank-says

https://www.bloomberg.com/news/articles/2021-08-05/kenya-forecasts-economy-to-expand-at-fastest-pace-in-a-decade

If Kenya's debt sustainability is getting better, you wouldn't be begging for rescheduling. You wouldn't be asking for debt ceiling to be increased and your people wouldn't be petitioning IMF to stop lending to Kenya.
You're one of the most indebted nations in Africa and you are still taking more.

On economic growth, let's wait for your spurious rebasing and let's see how many more billions you can add to your tiny economy.

Kenya's gov has never wanted interest rate capping.

It's Kenyans who have always wanted to reign on banks - who have been making supernormal profits for 30yrs now.Most kenyans are very financially literate - which is why any interest say about 15 percent - would send alarm bell and cause public outry - and which is why most kenya prefer to start SACCOS and cooperatives to lend themselves.

The first attempt to control interest was in late 90s - through a famous Donde bill that failed. It was capping interest at 3 percent above the base rate.

There have been several attempts to regulate interest rate until in 2016 - it was passed by parliament - and being almost an election year - the president could not veto that law.

Kenya gov or IMF did not remove the rate capping. The judiciary did. Some people went to court and alleged the interest capping law was interfering with Kenya Central Bank constitutional mandate to set monetary policy.

The court agreed - and it's was declared unconstitutional. Kenya gov was happy to see the end of rate capping - because private lending had grown by small margins - and it had biggest impact in risky sectors like real estate.

Now please when you compare Kenya private sector and Nigeria Private sector - it like day and night. You should look at you taxes for example to know your private sector is just Dangote and banks sucking Nigeria blood by charging a usurious interest rate of 30 percent - quoted monthly - leading to endemic poverty and oil dependant economy.

The primary lending mumbo-jumbo is a hilarious comeback attempt not worth responding to.

obaaderemi:
This is all hogwash.
The lending rate cap failed to achieve its aim because your banks simply stopped lending to small businesses and big businesses. They felt the lending rate was too low.
Your government removed it and it was covid period, so lending was frozen. This is why Nigeria has a bigger and more viable private sector than Kenya. Nigeria is an oil exporting country but check our stock exchange, the biggest companies there are not related to oil at all.

What matters for such companies to thrive are the prime lending rate (which is clear you still don't understand. You are free to look it up) and the willingness to lend(this is missing in kenya. Your banks are small.)

The latest figures I could get on lending rate comparison among countries is attached below. You can see Nigeria and Kenya are at par. Yours was slightly higher in June 2021:

We take debt - we repay debt. South Africa has 400B of debt. Debt is only a problem for countries like Nigeria that depend on Oil to repay debt. If Oil prices tank - you cannot repay debt.

obaaderemi:
If Kenya's debt sustainability is getting better, you wouldn't be begging for rescheduling. You wouldn't be asking for debt ceiling to be increased and your people wouldn't be petitioning IMF to stop lending to Kenya.
You're one of the most indebted nations in Africa and you are still taking more.

On economic growth, let's wait for your spurious rebasing and let's see how many more billions you can add to your tiny economy.