₦airaland Forum

This wasn't what we voted for the suffering is getting tougher

BoldBrainz:
What did I just read?!

I don over shock here

mrvitalis:
Lol you just spoke like a typical Nigeria

What's the percentage of people that run on gen? Most business barely use their gen

90% of Nigerians who can afford constant power have constant power.... If you know you want constant power dont you know an estate in your city with constant or near constant power?

Power is not important to Nigeria now as a president I won't even invest too much into its

This just too correct, s very big hidden truth

The noise around we need constant power is overrated, constant power is not cheap anywhere in the world I stand to be corrected and you need be able to afford it or be able to utilize it by putting it to profitable economic use for you to be able to sustain it

Omodua:
Shame of a Nation!

The only oil producing country without a refinery and importing. Our leaders have brought shame and odium to this country.

What's Mele Kyari doing as NNPC managing director. He is a square peg in a round hole. He lacks managerial ability to Head such a sensitive lifeline organization.

NNPC needs radical shake up. This is the only way it could perform. I don't understand why the oil sector is still spared of radical shake up.

The sector must be sanitized.

Forget about that one. Go and look at the list of individuals that were given oil leases. 80% of the people on that list are from the North. I never knew that Northern people's lineage extends into the South-South. No Equity exists in the country. For clarification I am not from the South South I am a Yoruba from Ijebu Ode but I see things differently. You want to tell me in that whole Country Mele Kyari is the most qualified person to lead such an important organization. Well, progress comes slowly for the first time in memory we finally have a non Northern person leading the Nigeria Port Authority.

Yep, this is what happens when you bring subsidy back

You bring back scarcity and you bring back queues.

Petrol should be costing higher than 900 naira now. Only way we can earn enough Forex to bring it in

What is happening now has happened since 1975.

But Nigerians no hear.

We should have removed this thing since 1993

mrvitalis:
"If we stabilize power supply "

Nigerians are too poor for constant power supply... Anyone who can afford constant power supply have it... It's just fact that you guys don't want to accept

Average Nigeria needs to pay $100 monthly per house for us to have power 24/7


Fuel would sale for 1000 there is nothing anyone can do about it ... You need about $100 to fuel your car monthly

The issue should be focusing on your people earning more than focusing on the impossible of reducing cost

I agree with you 100% X 100%.................You analysed it perfectly!

The solution to Nigeria problem is Simple.....Start producing what we import in this Country..Simple dollar will come down ....u can have 1 dollar to 1 naira it's emperically Possible...

Rayban26:
You ronu miscreants dont have problem now. Shebi you people buy specially at 50 naira per liter. Oloriburuku somebody

.... Useless child... I did not mention your name... Omoale

mrvitalis:
"If we stabilize power supply "

Nigerians are too poor for constant power supply... Anyone who can afford constant power supply have it... It's just fact that you guys don't want to accept

Average Nigeria needs to pay $100 monthly per house for us to have power 24/7


Fuel would sale for 1000 there is nothing anyone can do about it ... You need about $100 to fuel your car monthly

The issue should be focusing on your people earning more than focusing on the impossible of reducing cost

LOL...I saw where someone called you an APC supporter for this your comment.

The sad thing about Nigerians is that we love things to be cheap without thinking about how much it costs to make such things. Infact if Nigerians could get away with it, they would buy a brand new 2022 Toyota at N10000 per unit, because.

The thing is, corruption aside, we are not a rich nation. That ouil wey we dey shout about cannot sustain a nation of 20 million, talkless 200 million Nigeria.

Anyway, make una no dey argue with these people.

BoldBrainz:
You cannot drastically reduce imports when you don't have locally produced alternatives to those import products you're cutting off.

Do you want to create chaos in a national dimension? What is even wrong with some of you?

In the 1970s, the Indians and Chinese rode bicycles when the Nigerians were spending their Udogi award on imported Japanese cars; in 1980 the Indians and Chinese learnt to mass produce motorcycles, and today both China and India are two of the top automobile manufacturers in the world.

Nigeria cannot fund imports anymore; the country has been mortgaged to the hilt and has large debt and low dollar exports. Nigerians have two choices start producing or do without.

Omodua:
Shame of a Nation!

The only oil producing country without a refinery and importing. Our leaders have brought shame and odium to this country.

What's Mele Kyari doing as NNPC managing director. He is a square peg in a round hole. He lacks managerial ability to Head such a sensitive lifeline organization.

NNPC needs radical shake up. This is the only way it could perform. I don't understand why the oil sector is still spared of radical shake up.

The sector must be sanitized.

We have no domestic refining because in 1973, we decided to subsidise fuel...which meant that eventually we sold fuel below the cost of its production. Not just fuel...kerosene, diesel, etc.

For a while we could afford it since the population of people using the refined products was not large enough (in the 1980's far more people used firewood than kerosene, and gas to cook.). But eventually we could not. And the queues started up, first in the mid 1970's. The refineries started collapsing in the 1990's when Southerners were in charge of NNPC.

The honest truth is simple. Any company making things needs to make a profit to pay for running costs. Subsides of the kind we practice in Nigeria do not pay for running costs effectively. Then our growing population means that most of the oil revenue has to go to funding things like salaries and projects, and the like. Add the fact that as at today, 20% of our revenue comes from taxes and other things, the 80% comes from oil....and you would see why we do not have working refinereis

Venezuela sells fuel at N40 or less per liter. And they have lost refining capacity over the last 20 years . To the point they can no longer help countries like Cuba with free subsidised oil. (Cuba is having to ration power as a result).

Iran has managed to keep refining and subsides. Their debt also makes ours look like chickenfeed. Iran wants to remove subsides. They can't because it means revolution.

If you want working refineries, make it profitable to run refineries....and that means letting the market set prices for fuel. Anything else is just inviting more and more debt, more and more import and less and less domestic refining.

Mele Kyari and Ibe Kalichuku have both called for removal of subsides. Kyari has even explained why subsides have to go self hundreds of times, and how they hinder NNPC's op. But you folk want N40 fuel...so you pretend he is the problem

nairalanda1:
LOL...I saw where someone called you an APC supporter for this your comment.

The sad thing about Nigerians is that we love things to be cheap without thinking about how much it costs to make such things. Infact if Nigerians could get away with it, they would buy a brand new 2022 Toyota at N10000 per unit, because.

The thing is, corruption aside, we are not a rich nation. That ouil wey we dey shout about cannot sustain a nation of 20 million, talkless 200 million Nigeria.

Anyway, make una no dey argue with these people.

Nigeria is a very rich country, blessed with young people, arable land and oil and gas, the problem is Nigeria's primitive culture and weak mentally. What is stopping Nigerians from producing? I have sent thousands of pounds to Nigerians to invest in a business but notice that they will waste it on living expense and ask for more.

sulaak:
Nigeria is a very rich country, blessed with young people, arable land and oil and gas, the problem is Nigeria's primitive culture and weak mentally. What is stopping Nigerians from producing? I have sent thousands of pounds to Nigerians to invest in a business but notice that they will waste it on living expense and ask for more.

We love imports, that's why.

We also have too many natural resources and we think that by selling them and sharing the money we can make enough

Also, the road to being a producer is a hard road. South Korea did it in a generation, but the generation that made the sacrifices suffered a lot as a result. (now they are old, and many of them don't live well).All industrial countries went through a prolonged period of hardship.

Nigerians that are suffering now don't want a leader to tell them that to become like China , Japan, Germany, or South Korea, they only need to work harder and suffer more for another generation.

mrvitalis:
"If we stabilize power supply "

Nigerians are too poor for constant power supply... Anyone who can afford constant power supply have it... It's just fact that you guys don't want to accept

Average Nigeria needs to pay $100 monthly per house for us to have power 24/7


Fuel would sale for 1000 there is nothing anyone can do about it ... You need about $100 to fuel your car monthly

The issue should be focusing on your people earning more than focusing on the impossible of reducing cost

If not for the last sentence, this ancestor been wan ask you where the average Nigerian go take see $100 to pay as you talk...

I no fit ask you wetin we go do to comot for this wahala because no be me and you land us here. And looking at the whole matter, me and you dey powerless to fix this matter to say the truth.

So if una get ideas, make una try to dey reach out to those wey dey in charge of this company called Nigeria. nairalander1 go dey always blame the ordinary people, as if na dem go borrow and share IMF money or na the ordinary people dey decide how the country dey go.

Abeg, dem don borrow, dem don share am, dem don make nonsense decisions with the little wey remain. Dem and their family no go face the nonsense. Na we dey face am.

Later someone go say why I dey always support chaotic matters. Put fire and burn it all as nobody wan use their head.

SoNature:
If we can stabilize power supply, the demand for petrol and diesel will be significantly slashed.

Why is Tinubu not making efforts to build power stations across the country?

Power station don turn huts and kiosks abi?!
It takes long-term planning and implemention

sulaak:
In the 1970s, the Indians and Chinese rode bicycles when the Nigerians were spending their Udogi award on imported Japanese cars; in 1980 the Indians and Chinese learnt to mass produce motorcycles, and today both China and India are two of the top automobile manufacturers in the world.

Nigeria cannot fund imports anymore; the country has been mortgaged to the hilt and has large debt and low dollar exports. Nigerians have two choices start producing or do without.

This daddy agree with the bolded.
But with all these show off lifestyle ingrained in most Nigerians, it'll take serious flogging to accomplish that little matter.

Treadway:
And so??.... E don tey, no be today. Whatever wan occur, make e occur. Orun yabo, ki'n se oro eni kan.

Humm Agba yahoo 😁

mrvitalis:
"If we stabilize power supply "

Nigerians are too poor for constant power supply... Anyone who can afford constant power supply have it... It's just fact that you guys don't want to accept

Average Nigeria needs to pay $100 monthly per house for us to have power 24/7


Fuel would sale for 1000 there is nothing anyone can do about it ... You need about $100 to fuel your car monthly

The issue should be focusing on your people earning more than focusing on the impossible of reducing cost

Nigerians are not too poor for 247 electricity..

How do you think self?

Nigerians have money, forget the poverty narrative..

Who are the people buying the fuel and disel despite the high prices..

We just sabi complain about poverty..

Nigerians can afford 247 electricity..

creativehubb:
Government should impose import ceilings on goods we don't really need, we must drastically reduce our imports. If we don't demand dollars, it's value will drop. QED.

Is that not what Buhari did and you labeled him failure?

correctguy101:
If not for the last sentence, this ancestor been wan ask you where the average Nigerian go take see $100 to pay as you talk...

I no fit ask you wetin we go do to comot for this wahala because no be me and you land us here. And looking at the whole matter, me and you dey powerless to fix this matter to say the truth.

So if una get ideas, make una try to dey reach out to those wey dey in charge of this company called Nigeria. nairalander1 go dey always blame the ordinary people, as if na dem go borrow and share IMF money or na the ordinary people dey decide how the country dey go.

Abeg, dem don borrow, dem don share am, dem don make nonsense decisions with the little wey remain. Dem and their family no go face the nonsense. Na we dey face am.

Later someone go say why I dey always support chaotic matters. Put fire and burn it all as nobody wan use their head.

The solution is simple my idea is similar to Peter obi idea

We must borrow more money in bulk but what we do with that money is key

Obi wants to provide soft credit for SMEs and build infrastructure


My idea is forget infrastructure we won't die
Borrow $15 billion, restructure our loans

Give this $15 billion to banks at say 3% interest starts after 3 years but the conditions are

1) this loans must be given to people who are into manufacturing in two divisions

a) import substitute - people who can produce what we import at a price lower or equal to the international average price
b) export products - people who produce this we can export at a price equal or below international price

2) this loan must be given to people at no more than 10% per year with 2 years no payment obligations

3) companies to qualify for loan must prove loan can provide employment for minimum of 20 people

4) loan should be between #200 million to 5 billion

5) you must show 5 years business track records

Not perfect but this is our best bet

creativehubb:
Every government in the world put in deliberate measures to protect it's currency and economy. Using too much naira(resources) to buy few dollars is a huge capital flight and loss of our national wealth. Government must ban the usage of dollars inside Nigeria, force all embassies to collect naira as payment for embassy fees, and force nations that we buy from to collect naira, or we form a trade group where we pay for goods with local currency. It is a shame how we allow dollar and america rip us off.

See zombie. Govt must ban usage of dollars, force embassies to collect naira and form a trade grp with who?
Keep dreaming zombie. You vote in corrupt leaders and you're now blaming dollars
Keep dreaming

sulaak:
In the 1970s, the Indians and Chinese rode bicycles when the Nigerians were spending their Udogi award on imported Japanese cars; in 1980 the Indians and Chinese learnt to mass produce motorcycles, and today both China and India are two of the top automobile manufacturers in the world.

Nigeria cannot fund imports anymore; the country has been mortgaged to the hilt and has large debt and low dollar exports. Nigerians have two choices start producing or do without.

Don't you think we're both agreeing on the same thing here?

xandy84:
Nothing is wrong with them. They only read nl news and suddenly, they are economist in their own right. Where are the alternatives? Dollar is not our problem. Same issue will arise if we trade in 💴, even Cedis.
We bring Nothing to the table except oil and it works when our population was medium size but we had quadruple our population in the last 70 years and by UN estimate, Nigeria will be 3rd most populous country by 2050. Trouble is loading.

I sincerely worry for the lives and survival of the children our generation is going to produce.

Theunbothered:
The guy mumu shock you abi?

I practically ran out of words..😂

Theunbothered:
Buhari border closure did irreparable harm to the Nigerian economy, now imagine a total import restriction. Do they even know the largest share of imported goods are essential items?

When Peter Obi was talking statistics some people's concern was what they will chop.

I'm having a hard time understanding why Nigerians will still be recommending the same measures Buhari undertook that put us in this colossal mess.

mrvitalis:
The solution is simple my idea is similar to Peter obi idea

We must borrow more money in bulk but what we do with that money is key

Obi wants to provide soft credit for SMEs and build infrastructure


My idea is forget infrastructure we won't die
Borrow $15 billion, restructure our loans

Give this $15 billion to banks at say 3% interest starts after 3 years but the conditions are

1) this loans must be given to people who are into manufacturing in two divisions

a) import substitute - people who can produce what we import at a price lower or equal to the international average price
b) export products - people who produce this we can export at a price equal or below international price

2) this loan must be given to people at no more than 10% per year with 2 years no payment obligations

3) companies to qualify for loan must prove loan can provide employment for minimum of 20 people

4) loan should be between #200 million to 5 billion

5) you must show 5 years business track records

Not perfect but this is our best bet

I see...

It all boils down to the same thing many are saying on here: We need to industrialize.

A good plan.

And you think all those werey in charge of running the country are not aware?

No make me laff abeg...

Goodnight brother. There's a reason I don't like discussing issues plaguing this country.

It gets me angry for I refuse to believe all these fine ideas all you guys are putting out on here are things these people in charge don't know already. They know, yet they do something entirely different.

Abeg, does any nation need rocket science to know they're supposed to have working refineries? Especially a nation whose entire income rests on such. And an oil producing nation at that?

Smh

Funkyswagzz:
The inflation they are suffering is not enough they want to make it worse.

And it scares me cause we'll all suffer the consequences together.

correctguy101:
I see...

It all boils down to the same thing many are saying on here: We need to industrialize.

A good plan.

And you think all those werey in charge of running the country are not aware?

No make me laff abeg...

Goodnight brother. There's a reason I don't like discussing issues plaguing this country.

It gets me angry for I refuse to believe all these fine ideas all you guys are putting out on here are things these people in charge don't know already. They know, yet they do something entirely different.

Abeg, does any nation need rocket science to know they're supposed to have working refineries? Especially a nation whose entire income rests on such. And an oil producing nation at that?

Smh

"He who is silent in the face of evil is just as guilty as the enabler".

You see, that's the reason some of us go the extra length to talk and keep talking, despite the fact we're uncomfortable doing so.

When I die tomorrow, I want it to be heard that even if I didn't have the capacity to have corrected the wrongs, I was vocal enough to be heard in the criticism of evil.

That would be a palatable inscription for my tombstone.

creativehubb:
Government must ban the usage of dollars inside Nigeria, force all embassies to collect naira as payment for embassy fees, and force nations that we buy from to collect naira, or we form a trade group where we pay for goods with local currency. It is a shame how we allow dollar and america rip us off.

^^^


If you ban the use of dollars in the country the trade will simply go underground. Parallel market rates will then go through the roof - as a premium for this underground trade will be factored into the cost of each dollar on the black market.

Nigeria cannot force nations (that sell goods to her) to collect Naira as payment. How does she want to do that? Nigeria is a fifth world country. Her share of world trade is tiny. She is a net importer of goods and her only export worth talking about is crude oil. Her currency is not a convertible currency. She is not an industrialized country or a nuclear or military power. Nigeria is a member of OPEC all right but she is not one of the prominent members whose decisions immediately affect global markets. She is not a member of any of the world's key trade blocs - Nigeria has not even been able to successfully conclude economic or monetary union with any of her immediate neighbours (anyone remember the "Eco"?). How in hell is she going to fight (and win) the currency war?

Your suggestion about forming a trade group is spot on. That is one of the world's competition battlegrounds and it will only get more intense over time. But Nigeria is not ready and probably never will be.

creativehubb:
Government should impose import ceilings on goods we don't really need, we must drastically reduce our imports. If we don't demand dollars, it's value will drop. QED.

That’s what Afghanistan is doing. The country even banned its neighboring country’s Rupee. No Dollar, Euro, GBP etc spending. They don’t even allow domiciliary accounts and their currency is coming stronger against the USD and other currencies.

It may likely climb higher, once the US releases Afghan’s foreign reserve confiscated during Taliban’s take over in 2021.

It’s good we ban having domiciliary accounts in Nigeria.
All foreign payment transactions should be done through official forex windows in our bank.

https://www.ft.com/content/d16675fa-8882-46bb-a31a-216e1626f507

ezechi242:
where did you get this agbado analysis from......even the poorest cities in Ghana has 24 hours electricity.

Yes, Ghana has 24 hours electricity, and many people there often times have to disconnect their houses from the mains supply for hours at a time because if they do not, their bills would be heavy and crushing and expensive.

07kjb:
A typical APC SUPPORTER

SEE HOW EVIL THEY ARE

I strongly suggest you go and read the guy you quoted previous posts.

He is not an APC supporter and has never ever been an APC supporter.

He was shilling for Obi in the run up to the last election. I recall that well.