₦airaland Forum

Someone like peter OBi wanted to help Nigeria but some bigots tribalist were not able to see what he has for us only to look at his tribe and those same people who feel they are resonable made and use their own power to put someone who dont even have a plan who publicly declare himself as emilokan. , its my turn and today look at the disgrace we are in ...

Buhari self time.better pass .....Nigerians should just apologize to former president
Jonathan , his time was still hard but things were manageable

COMPAQ:
Pretty much exactly what I said on X!


The reality is that Nigeria is suffering from the poor economic decisions of almost 20-30 years!! We have put off the pain for decades and continued riding our luck! That luck seems to have run out now and this generation will unfortunately have to bear the brunt of this mismanagement, which came to a head under President Buhari.

The FX rate is simply the result of the demand and supply fundamentals. Demand continues to increase unabated. Everything around us is imported. In fact everything on us right now is probably imported. clothes, watch, shoes, phone, tablet, laptop etc. Added to traditional demand for USD is now the masses of those migrating permanently or for school.

Supply on the other hand continues to dwindle due to oil production way below Nigeria's historical production levels. To make matters worse, the Emefiele CBN of the last 5years seems to have mortgaged our future USD earnings already. And the Tinubu government has also securitized future NLNG dividends. Funny enough, the same NLNG has already issued profit warnings due to insufficient supply of gas for existing trains 1-6, how much more train 7 under construction. So we are likely to be in a deep dollar supply mess for the foreseeable future.

And as for oil production reaching 2mln barrels again on a consistent basis in the near future, that's a tall order. The onshore oil production assets and infrastructure has been almost totally lost to bandits and criminals. You produce 200k barrels, only 100k barrels gets to the terminal. Aging oil fields need new investment, but who will invest in the midst of all that madness! Even in the offshore where its relatively safe, Nigeria is no longer the oil magnet it once was. With many other countries in Africa and beyond finding oil and gas reserves in the last decade, Nigeria with its legal, infrastructure, political, regulatory issues is one of the last places anyone wants to bring his money. And a $10bln investment in a new field would improve supply in the short term (FDI) and also in the long term (production).

So if we have no USD supply as a country, how can we defend the Naira!? The only option was to allow it to find its market value.

And funny enough, the expectation is that a depreciated Naira will force demand to slow down and spur exports. That's the text book impact. But Nigeria has such a poor industrial base that if NGN were to become $/5000, it wouldn't even spur exports, because we really have nothing to export in the short term. And because almost all our inputs into production are imported, it actually just increases the cost of said production, so we lose any advantage a devalued Naira might have provided for cheap exports!

And because Nigerian's feel we have no options to medicals and schooling abroad, we will continue to demand the dollar at whatever price. I am not sure there are that many people with kids in school abroad 1 year ago when dollar was N750, that have brought the kids back home because dollar is now N1400. Somehow the parents always seem to find a way to get more Naira to buy the dollar at whatever price. And the cycle just continues!!

it is such a vicious cycle that is extremely difficult to break.

https://twitter.com/oyeolsakin11538/status/1750805925697364222

Would taxing the rich reduce their ability to purchase Dollars? If we can’t easily increase the supply of dollars, can we use taxation to reduce the demand? This seems like an easy solution. The problem is political will.

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

Your last sentence is a pure rubbish one.

Which clueless and nonsensical asiwaju has good intentions for you and Nigeria

1Alex:
I did not vote for Tinubu but truth be told, he seems to have good intentions. I am 100% obidient but since court has decided, I have to support him, if he succeeds, it's for the good of all of us. I have entirely nothing to gain if he fails.

Shut up, you voted for him.

What exactly has he done so far that shows he has good intentions??

The economy and security have all collapsed so far.

What exactly is he getting right

You guys' hypocrisy and tribalism will destroy this country.

emkz:
Do we not also need funds to diversify the economy?

There is nothing wrong with having oil and mineral revenues. What we need is to utilize them efficiently.

We were all here when Donald Duke did Tinapa, Obudu Cattle Ranch and even brought Miss World hosting to Nigeria. But religious extremists made a mess of the hosting of Miss World. In addition, Duke's successors refused to build and consolidate on the foundation of Duke.

We see how Lagos earns revenue from service industry. What are the other state governments doing to earn revenue for their states?

Mostly nothing. Tinubu is expected to solve all the problems.
Some state governments destroy alcohol but still collect the money earned from VAT charged on alcohol sold in other states. Development is also elusive when you live with people who are retrogressive in their thinking. At this stage of our national life, Senator Ali Ndume and his co-travellers are insisting that some departments of CBN and the headquarters of FAAN must stay in Abuja without advancing sensible arguments to even show they are competent in thinking.

Instead of developing mining resources, state governments seemingly cooperate with illegal miners to steal from their own people, and even kill them.

Look at insecurity. Instead of setting up local vigilante to solve the problem, state governments want the President to come and solve their problems for them.

The problem of the naira is that state governments are mostly unproductive. Hold them to account.

When a typical tinibu's yoruba asslicker writes, you'll know

You're now blaming the state governments, but during the election, you promised Nigerians your brother would build Nigeria the same way he built lagos.

The story has now changed as your messiah has failed to build Nigeria, abi??. Nonsense.

We cannot get there while sleeping on our natural resources

senm117:
We would get there

mariahAngel:
What pleasure though?

The government/politicians keep taking and taking, till there's nothing left to take from the citizens.
What more is left?

The people never thought it could get any worse after Buhari, until Tinubu forced himself on the people.

Let's imagine though that we were a country like Japan, South Korea or post war Germany that's basically being ruined by war. The economy is in sham les and the currency is near useless.

This was exactly the situation these three countries were in. Complete economic ruin post ww2 and Korean war.

The difference between these two countries is that their leaders showed an example of cost cutting, willingness to suffer short term pain. Today you have three developed and powerful economies.

In Nigeria obviously we don't have these types of leaders but believe me when I say we don't have these types of citizens. Because you will be shocked how much influence ordinary citizens who happen to suddenly get access to Aso Rock have on government and of course let's not mention our civil service.

Everyone is out to take care of themselves in order to maintain their standards even at the cost of everyone else. These standards are to import "oyinbo orishirishi is life" We have a mentality problem towards possessions and things that leads to "poor shaming" Even gate men "poor shame" people who have cars they consider inferior. This is the pleasure of having someone to shame. And it's expensive because it leads to an arms race to own stuff - usually denominated in USD.

We are driven by a fear of being shamed rather than the idea of a building a prosperous community. Even in church and mosque shaming goes on

My wife and I have a pretty large school on the mainland and we've worked hard to remove the strata
of class and shame. It literally feels like being in a new
country when you step through the gates. No rudeness, no class stratification. No need to assert yourself through force or intimidation. Everyone gets their due irrespective of tribe, income and circumstance.

It take citizens and government to build a society like this. But to do it we have to get people to give up on the pleasure of having people to shame.

Sorry this is long.

Free2Fly:
When a typical tinibu's yoruba asslicker writes, you'll know

You're now blaming the state governments, but during the election, you promised Nigerians your brother would build Nigeria the same way he built lagos.

The story has now changed as your messiah has failed to build Nigeria, abi??. Nonsense.

If you can point out to where I licked anyone's ass and where I said Tinubu would build Nigeria, I will give you five hundred thousand naira or the dollar equivalent TODAY.

Many of you think many of those who supported Tinubu are hungry and are paid. You believe that your convictions on your love for one candidate or hate for another one must be unversalized on all of us. That is why you propose arguments to attack someone instead of finding ways to propose decent solutions like someone with an atom of basic sense.

Elections and litigations are over. Those who lost and claimed to have won could not prove it after ten months. Those who won should be given the latitude and support to govern. If you really mean well for Nigeria, you'd find ways to engage with those who can change things for the betterment of our country by opposing with intelligence and criticizing constructively.

By 2026, you can start promoting whoever you support.

emkz:
Did you just say that Tinubu floated the dollars?

You are such an intelligent person. Wow!!

If your intelligence is not suspect, you'd realize that the state of the Nigerian economy is a culmination of years of governments that didn't understand how to manage the economy. Currency is but one component of the economy. Are you not old enough to know that years of successive governments defending the naira by subsidizing the dollars was not a sustainable practice?

What is attacking the naira?

The only thing attacking the naira is unregulated consumption of foreign goods. If you consume locally produced items, your dollar burden reduces. When government subsidizes the dollar, those who benefit the most are the rich who import foreign cars, wines, clothing, babes, etc. The average man wants to eat, have a decent accommodation and have a decent wage to cater for his family. By subsidizing dollars, we wasted money that could have been spent on building factories, infrastructure and education on subsidizing the rich. The end game is poverty of the majority.

It was not a sustainable practice.

Finally, we are all guilty of these crime of attacking the naira. I see many people holding the dollars in their hands and even opening bank accounts in dollars. In Nigeria, we operate a dual currency regime of dollars and naira. This is illegal. I have travelled to several countries in the world and the only country where I see people charging things in a currency different from theirs outside an airport is Nigeria. Even some embassies collect fees in fx. This is wrong!

If government sees dollars in anyone's hands, it must be assumed that it was stolen because it is not a legal tender within Nigeria. Banks too need to be stopped from opening accounts in fx for anyone within Nigeria. It is not done anywhere else.

In Nigeria, everyone wants to have dollars and come out boldly to blame Tinubu for excessive cost of dollars. If those people who hid dollars bring them out, the price will re-equilibriate.

You can see how confused you are. Right from all successive military govt plus the 16years of PDP govt, Naira was kept under #200 to a Dollar. In 8years of Buhari, it became #735, and in just 7months of Tinubu, it is now #1400, can you see your confusion. You are paid to come spew trash here.
You thought I belong to group of myopic Nigerians you can deceive with propagandist jingoism.
The same Tinubu was sharing dollars to delegate to win the primaries, you must have forgotten so soon.
The future of younger ones are being mortgaged by criminal in govt.
You floated a currency and at the same time removed subsidy. What do you expect if not catastrophy.
You would soon see naira exchange for #2k to a Dollars.

Mindlog:
"The reason for this failure lies in Nigeria’s political culture that fosters a rentier economy".......That culture is not ending soon as there is a very long queue of those who wants to benefit from that culture.

What is "rentier economy"?

bjcole:
You can see how confused you are. Right from all successive military govt plus the 16years of PDP govt, Naira was kept under #200 to a Dollar. In 8years of Buhari, it became #735, and in just 7months of Tinubu, it is now #1400, can you see your confusion. You are paid to come spew trash here.
You thought I belong to group of myopic Nigerians you can deceive with propagandist jingoism.
The same Tinubu was sharing dollars to delegate to win the primaries, you must have forgotten so soon.
The future of younger ones are being mortgaged by criminal in govt.
You floated a currency and at the same time removed subsidy. What do you expect if not catastrophy.
You would soon see naira exchange for #2k to a Dollars.

I'd not engage you any further.

You argue to try to win and not argue to make sense. You are filled with hate and I hope you find peace with yourself. You accused me of being paid. If I ask you for proof of payment, the world would see how stupid you are.

I am too big to engage in personal attacks with your likes. When you are more mature, you can return to read and maybe your brain will be open then.

Goodbye.

BreconHills:
Let's imagine though that we were a country like Japan, South Korea or post war Germany that's basically being ruined by war. The economy is in sham les and the currency is near useless.

This was exactly the situation these three countries were in. Complete economic ruin post ww2 and Korean war.

The difference between these two countries is that their leaders showed an example of cost cutting, willingness to suffer short term pain. Today you have three developed and powerful economies.

In Nigeria obviously we don't have these types of leaders but believe me when I say we don't have these types of citizens. Because you will be shocked how much influence ordinary citizens who happen to suddenly get access to Aso Rock have on government and of course let's not mention our civil service.

Everyone is out to take care of themselves in order to maintain their standards even at the cost of everyone else. These standards are to import "oyinbo orishirishi is life" We have a mentality problem towards possessions and things that leads to "poor shaming" Even gate men "poor shame" people who have cars they consider inferior. This is the pleasure of having someone to shame. And it's expensive because it leads to an arms race to own stuff - usually denominated in USD.

We are driven by a fear of being shamed rather than the idea of a building a prosperous community. Even in church and mosque shaming goes on

My wife and I have a pretty large school on the mainland and we've worked hard to remove the strata
of class and shame. It literally feels like being in a new
country when you step through the gates. No rudeness, no class stratification. No need to assert yourself through force or intimidation. Everyone gets their due irrespective of tribe, income and circumstance.

It take citizens and government to build a society like this. But to do it we have to get people to give up on the pleasure of having people to shame.

Sorry this is long.

Wow, if more people think like you, Nigeria would have a great future.

Angelfrost:
Okay... Did I claim to have propounded a 'rock science' solution?!! Does the truth always have to be far-fetched and complicated?

I really don't understand the thrust of your rant or response.

Okay, bring forth your own 'something' wey only Ph.D. holders know... We are all here to learn.

No mind that Tranquility2345. Na so the guy be. Chaos!

BreconHills:
Let's imagine though that we were a country like Japan, South Korea or post war Germany that's basically being ruined by war. The economy is in sham les and the currency is near useless.

This was exactly the situation these three countries were in. Complete economic ruin post ww2 and Korean war.

The difference between these two countries is that their leaders showed an example of cost cutting, willingness to suffer short term pain. Today you have three developed and powerful economies.

In Nigeria obviously we don't have these types of leaders but believe me when I say we don't have these types of citizens. Because you will be shocked how much influence ordinary citizens who happen to suddenly get access to Aso Rock have on government and of course let's not mention our civil service.

Everyone is out to take care of themselves in order to maintain their standards even at the cost of everyone else. These standards are to import "oyinbo orishirishi is life" We have a mentality problem towards possessions and things that leads to "poor shaming" Even gate men "poor shame" people who have cars they consider inferior. This is the pleasure of having someone to shame. And it's expensive because it leads to an arms race to own stuff - usually denominated in USD.

We are driven by a fear of being shamed rather than the idea of a building a prosperous community. Even in church and mosque shaming goes on

My wife and I have a pretty large school on the mainland and we've worked hard to remove the strata
of class and shame. It literally feels like being in a new
country when you step through the gates. No rudeness, no class stratification. No need to assert yourself through force or intimidation. Everyone gets their due irrespective of tribe, income and circumstance.

It take citizens and government to build a society like this. But to do it we have to get people to give up on the pleasure of having people to shame.

Sorry this is long.

Well, I think the real issue is that people have lost faith, so they no longer care.

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

Prayer warrior

ClearFlair:
Prayer warrior

Shalom 😆

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

But Asiwaju with his good intentions is not visiting this issue.
Yemi Osinbajo listed how the country can work through diversification in his primary manifesto.
Why is Asiwaju putting everything on taxation instead of manufacturing?
His economy recovery team has not mentioned this too in any of their policies rolled out.

Tianamen1:
Wow, if more people think like you, Nigeria would have a great future.

Thank you.

"I better pass my neighbour" is not a generator, it is the reigning national philosophy. Everyone has to deliver themselves from that race to the bottom.

English English and yet more English yet the naira still keeps plunging lower into the abyss.
Very soon you will use 50k naira to buy a loaf of bread sold for 2k today.
Till Nigerians take back their country the political class coming to "eat" from the national cake will continue bleeding the country dry.

Piroty:
I don't trade in naira, research or ask questions before potraying ignorance

Which ever currency you trade comes with It's risk, It is not even new. You should been advicing people to acquire trending certification like anti money laundering, data analysis and the rest and with that they can work remotely also. I trade currency also partly but it is not something i will advise someone to venture it because it takes guts.

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

We are not one for sure suggestions
We better disintegrate this entity into smaller size with same custom culture and religion for the good, we are all saying rubbish as it's the worst is yet to come

mariahAngel:
No mind that Tranquility2345. Na so the guy be. Chaos!

My Sister, I know him very well... Whenever I'm in the mood, I tolerate and even indulge him, otherwise I just ignore him.

The evil you support yesterday will hinder your progress tomorrow!

Yesterday, Asiwaju and miscreants were busy applauding Buhari to borrow more! Now the chickens are all coming home to roost!

When Buhari was busy digging hole for Nigeria & himself, he didn't realize it's going to go round. And when Asiwaju and cornfused miscreants were cheering the kwunu drinking nonetity, they didn't realize power will be given t them and those cluelessness will hunt them! Oya come progress naaaa

nlfpmod:
Kingsley Moghalu

bjcole:
You can see how confused you are. Right from all successive military govt plus the 16years of PDP govt, Naira was kept under #200 to a Dollar. In 8years of Buhari, it became #735, and in just 7months of Tinubu, it is now #1400, can you see your confusion. You are paid to come spew trash here.
You thought I belong to group of myopic Nigerians you can deceive with propagandist jingoism.
The same Tinubu was sharing dollars to delegate to win the primaries, you must have forgotten so soon.
The future of younger ones are being mortgaged by criminal in govt.
You floated a currency and at the same time removed subsidy. What do you expect if not catastrophy.
You would soon see naira exchange for #2k to a Dollars.

The root cause is colo mentality....most Nigerians hv it....they di whatever imf and world bank asks them to do....

This country is so deep in mess that we don't even know which problem to fix.This country is so deep in mess that we don't even know which problem to fix....

Artscollection:
Which ever currency you trade comes with It's risk, It is not even new. You should been advicing people to acquire trending certification like anti money laundering, data analysis and the rest and with that they can work remotely also. I trade currency also partly but it is not something i will advise someone to venture it because it takes guts.

Trading is what i do full time, and most people know about online skills i don't have the strength to be writing much actually

COMPAQ:
Restructure is not really the issue!! If you cant hold the federal government, how will you hold the State government??

When Nigerians are ready to hold anyone, we will know!!

I keep saying it, thousands of Nigerians came out to walk for Mo'bahd!! Call those same Nigerians to walk in Abuja against poor economic management and corruption, they wont show up.

Thousands of Yoruba people in Lagos came out to walk for mo'bad NOT thousands of "Nigerians".

there's a difference between Yoruba people and "Nigerians".. mo'bad was not known outside the SW..

Nigerians can not hold anyone so stop wasting your time.

I did not know of mo'bad and never walked for mo'bad not to talk of non-yoruba people who never knew of him.

indigenous234:
He's a clown. Nigerian elites are unpatriotic and selfish. Notice the solution he preferred?.. "empowering technocrats". Is Kingsley Moghalu a technocrat?. Yes.

You are probably not literate enough to understand what the man is saying.

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

So what is he achieving in Lagos since 1999, with his good intentions for the state

BreconHills:
Let's imagine though that we were a country like Japan, South Korea or post war Germany that's basically being ruined by war. The economy is in sham les and the currency is near useless.

This was exactly the situation these three countries were in. Complete economic ruin post ww2 and Korean war.

The difference between these two countries is that their leaders showed an example of cost cutting, willingness to suffer short term pain. Today you have three developed and powerful economies.

In Nigeria obviously we don't have these types of leaders but believe me when I say we don't have these types of citizens. Because you will be shocked how much influence ordinary citizens who happen to suddenly get access to Aso Rock have on government and of course let's not mention our civil service.

Everyone is out to take care of themselves in order to maintain their standards even at the cost of everyone else. These standards are to import "oyinbo orishirishi is life" We have a mentality problem towards possessions and things that leads to "poor shaming" Even gate men "poor shame" people who have cars they consider inferior. This is the pleasure of having someone to shame. And it's expensive because it leads to an arms race to own stuff - usually denominated in USD.

We are driven by a fear of being shamed rather than the idea of a building a prosperous community. Even in church and mosque shaming goes on

My wife and I have a pretty large school on the mainland and we've worked hard to remove the strata
of class and shame. It literally feels like being in a new
country when you step through the gates. No rudeness, no class stratification. No need to assert yourself through force or intimidation. Everyone gets their due irrespective of tribe, income and circumstance.

It take citizens and government to build a society like this. But to do it we have to get people to give up on the pleasure of having people to shame.

Sorry this is long.

No Nigerian is driven by fear of been shamed.

if you have knowledge of history then you will know that Japan, South Korea and Germany all got support from U:S and Europe and you will never ever compare them to Nigeria who never received any support from U:S and Europe.

you are the one been driven by fear of been shame.

EreluRoz:
Ajaokuta steel is lying there abandoned and not active, that alone can solve a whole lot of mess in Nigeria but it must be only oil.

Youth of the country are still sleeping, the few ones in position to make a solid statement are worse than the old corrupt leaders.

When we are all ready for revolution, you can call on me for support.

Meanwhile we should keep praying for asiwaju to succeed because he obviously has good intentions for Nigeria.

You vote the wrong man and pray he succeeds. Lol

Pusyiter:
Interestingly, there is no President that does not have good intentions
The challenge has been good political will to bring change
When you want to bring change and see it will affect someone very close, you change tactics
This is why we will continue to clamour for the restructuring of this country
If not, we will keep being keyboard warriors

Exactly. The solution to Nigeria's fundamental problem lies in restructuring. That is decentralisation of governance.