Blazetrailer:
Olodo!...the currency is not fully floated...it is still managed according to world bank. Borrowing to defend a currency is not floating because it is not sustainable

Arobaga:
Nobody is expecting Tinubu the certificate forger to bring naira down to N400




All we’re saying is he should return it to where Buhari left it



Like can’t believe a day will come when we will all be wishing to return the economy to Buhari era



Tinubu you’ll crumble



You’ll go down the history of Nigeria as the worst thing that has ever happened to Africa at large

epainos:
I laugh when I read NL comments and ignorant people in economics and finance matters rush to the front page to hype what is going on. Bayo Onanuga is just playing on your intelligence cos I believe there is something they want to achieve with this hype. I believe the tension is extremely high on them, and they are looking for a way to lessen it. Lol.


Number 1, Emefiele should be shot dead by firing squad cos he killed Nigeria. I went through all his actions and I wept for Nigeria. Honestly, I think Cardoso took this job because of the relationship he has with Jagaban. Who the heck wanna be the CBN governor after what Emwfiele did? Lol. So, I laugh when people insult Cardoso. You guys don't understand. Mowz we have Maghalu who is a former CBN director saying the real truth.


The money they are presently using will soon go low. They also know that it won't last long. Lol. I don't know how he made his arithmetic that we need $billion in foreign reserves, but I know Naija cannot recover easily from Emefiele. I said that man should be shot dead on the spot. And Buhari should be ashamed of himself. He is a real dullard. Listen, Buhari will never be given any international appointment like Jonathan, OBJ, and other past presidents because being the Nigerian president exposed him. No one needs to talk because everything is right clear now. Jagaban is quite smart sha. If Buhari understands what Jagaban and Cardoso have revealed, he will cover his face. But he is a dullard na. Lol.


Yes, the only way out is via internal production, and the reason productivity is low is because of a lack of electricity. Then Jagaban removed the subsidy. I think he also miscalculated. He felt he could get enough dollars as soon as he cancelled it, but little did he know that Buhari has deep future contracts for our oil. Lol. Peter Obi and Atiku should be grateful they did not win that election. Lol. This is the truth. Buhari messed us up big time. It is not an issue of blame game, but the real truth.

Jagaban should focus on Electricity if he loves himself, and I think he made a blunder with El Rufai. Perhaps if that man had become the power minister, things would have picked up, but they used politics to kick him out. Lol. This present power minister should be sacked oooo, else, na another thing we go talk in 1 year from today.

Listen....Naira is going down again soon. It is a gradual process to adjust it.

Another area that is killing us is agriculture. Why? The removal of subsidies created a big vacuum for its domestic needs. Instead of exporting agro products, we are releasing our reserves just for people to stop crying "ebi n pa wa". Lol. So, no forex from it either. And finny cocoa has picked up price lately. How I wished we had enough cocoa to export. Again, Nigeria is not ready to stop bombarding agro products with pesticides. I have stopped eating cereals. Go verify it. ....Nigerian beans have been banned from the EU since 2013 and they have been warning us since 2008. Lol. Why? Pesticide residue is too much. What about our yam? Despite being the highest producer in the world, Audu Ogbe failed to execute it. Our yams were rejected. Lol.

No wonder Nigerians are dying like fowls. People are dying, but they only cry when famous people die. Una go die more.

Go buy a plot of land and start growing your food organically cos poison is what is out these days.

Good luck to everyone.

Ogaonos:
kindly explain the monetary matter(money/ currency)to a lame man .all these big English ND economic terms is the problem with Nigerian economist.


For me I understand economy and can explain economy to a lame man e go unfastens. But money never really understand it



Normally in my own knowledge the way out is
Refinery (modular refinery) dangote own get as e be
Solid minerals (policy for processing it)
Cbn was suppose to have a gold coin.,diamond platinum bank for pple to invest. Which it buy a land rich with
such resources
Exporting of gas to gulf of guinea (EPZ PROJECT OF JONATHAN ADMINSTRATION THAT BEING ABANDON)
Manufacturing what are u going to manufacture and to where you going to export it to. Nigerian economist will Neva tell u NA TO SPEAK ANNOYI G ECPNOMIC TERMS THEY SABI. THEY BE LIKE INFLATION AD GONE UP BY 2.5%,THE MARKET FORCES. WHAT IS THE MARKET FORCES THEY CANT RXPLAIN


WHAT HAVE OBSERVE DEMOCRACY ND ECONOMICS,MONEY ARE THREE THINGS OYINBO DIDNT EDUCATE US WELL ON. I ONLY RECENTLY UNDASTOOD TWO NA ONLY THIS MONEY I NEVA GRAB

fabolouz1:
Mr moghalu is among those whose actions/inactions brought the economy down to her knees .

How does having $100bn in reserves help the naira?

Paramount01:




Are they still borrowing money to defend dollar now?

grandstar:


Do you know how much the country is spending monthly subsidizing petrol? 907bn. That is almost N11trillion. What was the federal budget this year? 28.7tr. That is almost 40% of the budget!

You said subsidies are deadly when used wrongly!

Subsidies are generally frowned upon by economists. As Hamilton said, "The existence of subsidies can not be divorced from abuse."

Countries that have no subsidies have faired much better than those who have have.

Singapore, a tiny island state with very little resources and Malaysia, a resource rich one were the same country in 1965 when they split.

Malaysia has a lot of populist subsidies such as for food or oil while Singapore has only for investment.

Today, Singapore is 5 times richer than Malaysia

Refined oil subsidies have been a big bane to economies that have them because they are simply too costly to implement and the only thing stopping their removal is that their governments are petrified of mass protests or even regime change.

Food subsidies are just as bad. They are common in Arab countries. These subsidies have always been a curse to the Egyptian Pound which seems to take a pounding (lol) every couple of years. Populist subsidies such as for food and oil are simply there to make the people happy.

If you want productive subsidies, perhaps supplying subsidized power to companies in an Export Processing Zone, even then, it should be for a time period

Oil and food subsidies are a completely no-no.

If I want to know a country that would not do well, I just have to take a look at the number of subsidies it has.

The 11tr for petrol subsidies just isn't there. The government will have to borrow every dime of it, leading to more malign inflation and currency.

I am certain that the petrol subsidy was the primary cause of the ballooning debts, that is now so expensive to service. In 2023, debt servicing was to gulp 96% of government revenue. This was simply insane. That was why Tinubu was determined to end petrol subsidies. Unfortunately, he did not go far enough by fully deregulating its price. The price of petrol is never stable internationally and the Naira is a currency prone to depreciation.

Due to the depreciation issue, the gradual removal of the subsidy on petrol is a non-starter, especially with this government which has shown a depressing tolerance of high inflation.

If the market price of petrol is $1 per litre and the exchange rate is $1- 600, and petrol sells for N600 per litre, there's no subsidy.

If the Naira depreciates to N700 and the market price for petrol still remains at $1, and petrol is still fixed at N600, that means there's now a subsidy. Why? Because the price should now be 700 per litre. There's a subsidy of N100 per litre.

In addition to why gradual subsidy removal isn't tenable is that with every new price increase, there's a new demand for a wage increase. This new wage increase further compromises the value of the naira further.

What I'm advocating is shock therapy. Removal of all subsidies once and for all and fully deregulate the price for both petrol and electricity. Countries that have gone the shock therapy route have always faired better than those who dragged their feet.

Price deregulation changed the telecoms industry forever. The GSM operators were allowed to charge whatever price they wanted and MTN and Econet(now Airtel) both charged 50 per minute while Mtel charged 22 per litre.

This enabled MTN and Econet to invest billions of dollars to roll out millions of lines. Mtel meanwhile faded into oblivion. Today, there are over 100m phone lines compared to the 400,000 available in the Year 2000.

Imagine if the operators were compelled to charge only 22 per minute like Mtel, I doubt the nation would have more than 10m lines and it would be most likely for the rich and Middle class and with phone call operators everywhere catering to the poor.

Petrol deregulation would also lead to massive investment in the downstream sector of the oil industry. If price deregulation had been carried out in 1980s, I am certain by now the country would be refining as much as 3m barrels per day.

If investors are not allowed to charge a cost reflective price for their products, they would be discouraged from investing.

Dangote seems to only want to start production with diesel and kerosene. He is forgoing petrol for now. It is a pointer to what I said.

IbeOkehie:


The ignorance of Nigerians is ASTOUNDING, I just can't get over it. Simple, simple things the average Nigerian university graduate can't comprehend. It's no wonder the economy is so bad and the populace are so poor. Terribly low intellectual capacity. Talk too much and the next thing is to cry "You insulted me! Do you know who I am?"

Tufia!!!

Good Luck to Nigeria.

CodeTemplar:
You always argue senselessly in the short term but silently recant and readjust your doctrine to accommodate superior logic and argument you have rejected in the past.

Subsidy is best for productive uses and not for personal leisure activities. That's sums it up and so no need to be typing useless epistles about facts you can barely interpret 5% of.

grandstar:


You can not mention a single economist you admire and yet, you come hear bragging about something you know absolutely nothing about.

jojothaiv:

I'm not trying to be mischievous neither do I hold any brief for any president in this country, past or present but many are quite aware of the role the current president played when the rates was shooting up during GEJ tenure and ordinarily, many would've thought this one will do better but then it's still the same rabbit hole.

The thing is a leader should learn to walk the talk and no revert to the changing mouth when they are in power.

epainos:


Very deep concept here.

Concerning buyers of exported products, market full ground for FG for anything. Price of cocoa has gone up and buyers full ground. However, oil makes more money now, but soon, it will not be sustainable because clean energy will take over. Just like how enugu coal cant really make the state extremely wealthy again. Gone are the days coal was used to power everything.

As regard money, do you want to know the truth? Follow rich men and find out what is common to them all. What is that thing? Trading.

Ogaonos:
exporting cocoa only ND disregard Local consumption ND importing foreign chocolate no make sense
Why would an American kid eat quality chocolate at an affordable price but naija or Africa kids eat it at a high price some times is not the real chocolate we eat as rumour as it .and cocoa is African crop
If quality chocolate is cheap for our kids ND ban foreign chocolate the demand will increase which means more cocoa tree needed more cocoa farms more workers more jobs.

By the way we can export Agro products but what is affecting it is three factors
1)absence of private farmland estate policy :govt farmland estate no work hw many LAnds govt want buy for farming plus bereaucrate issue.

2)insecurity

3)absence of reputable foreign Afro brokerage companies na them dey make export easy ND growing
E. G oil export brokers like total, shell help.nigeria export it's oil

epainos:

I wish you can be fished out to come and give evidence to this, or face the wrath of the law.

epainos:

The almighty US is selling crude oil to Dangote, so in the absence of facilities to produce chocolate, still export cocoa. We are just getting back.

And remember...you are back to the real issue on this thread. Electricity. Without it...forget chocolate....na cocoa. Dangote is surviving cos of unfair play. If those companies that have closed up were given the same treatment, they would still be around. To run a refinery, electricity is more situation. To produce crude oil..same thing.

I only gave more examples...go right, left, front and back...the issue is still electricity.

But for someone coming back, focusing initially on agriculture is ok. Add to the forex the nation is making via agric. Chocolate won't happen now until we fix electricity....so, let's focus on cocoa to survive and move forward.


This is a false info. There are so much private farmland. Almost all ex-generals have huge farmlands. Na money. If you get am, you go buy. Shikena. Go through the right channel. Not much red tape oga. I know about it very well.

If builders are getting land for real estate, why can't you get a farm? No be private coys dey build more these days?


For sure this is a bad one, but it goes to show that only the northerners are into agric. Kidnapping dey, but can be addressed fast if govt is serious. But really, I can't take the risk also.


Na shell and total dey sell for NNPC? LOL.

You don't need this sir for agro, but if available...good. Going through government departments just like how USDA assists its citizens too is not bad. We have that...and anyone can use the channel. Trust me...when production is massive, brokers will rise from the grave naturally. Which product dem wan market now?

Even small farmers do small-scale exporting. They can have snail pens and catfish ponds at home...no insecurity issues. After production, they roast and dry. Logistics coys don plenty here to move their products abroad. They only find the market or at times, govt agencies assist them. Their only business is to produce. But guess what? People still don't do it cos of the high cost of production due to lack of power. Feed costs are high. High cost of production for fish. Lol. But look at snail production, you need less power..so na money spinner.

Instead of me to export, I will rather focus on perishable food products. On a plot of land, I can make 90 crates of tomatoes for just 90 days of field production after transplanting. At a wholesale price of N25k that's N2.25million. It's possible to fence around 20 plots na. That's 45 million sales. Of course, not easy cos of many other issues. But it is possible. Most farmers aren't that good at it and their yield is low....still they are cashing out big time.

Back to the main point...we need electricity. Power. Producers will return as soon as we fix it. They want to operate here. There is a big market here.

If you were an agro exporter would you want to go through a broker when you can enter the market yourself and kill it big? It's easier these days

Ogaonos:
i agree with u totally with electricity/insecurity but disagree on farmlNd And Afro export I will explain


Electricity and insecurity is a big problem .in which the solution is state govt.involvement (state police ND state(public private partnership owed power company)

For the Farmland here the issue with buying land for farming
1)scam (that why u said if u go thru the right channel) this 2024 such hussle to buy land got to stop [quote]
So, what is the way to still mitigate scams in land purshase? Do you have any laid down guidelines?

[quote]
2)tribalism yes tribalism they are some communities that harrass (induce by jealousy ND pure wickedness )towards non indengene making it big on agric

3)govt lack of accountability(my brother a president or governor dnt know the number of farms they ask such data form the ministry of agric..in which the ministry can falsify figures and the governor or president can't verify bcoz is stressful ND impossible to.
All these are solve by PRIVATE FARMLAND ESTATE

WHAT IS PRIVATE FARMLAND ESTATE these are estate owed by a company bought from the communities ,planned into hectares or plot land, and sold of lease to you and I .

With these model an Ibo or Yoruba or efik man or woman can have 20farms scattered in the country.

Govt Can easily track the agric subsidy like fertilizer, even the media Can easily do their investigative journalism on reckeetering of fertilizer

Finally it increase capacity of food production

ON AGRO export BROKERAGE COMPANY is very vital.scam dey export.nigeria has bad reputation in scam.you need to boost
confidence of foreign. Buyers


Secondly is ease in export let.me explain
To find foreign buyers no easy like that.
They demand is huge they ask in tonnes
In which u need to sort for. That when Nigeria challenge factor comes in.

ADVANTAGES OF AGRO. BROKEAGE FIRM

1)EASE IN BIZ
2)EASE IN COMMUNICATION WITH BUYER
3)MANY FARMERS. BENEFIT. WHILE WITH MINISTRY NA DEM DEM GO RUN THE EXPORT WITH THSIR FARMS


4)WITH. AGRO BROKEAGE FIRMS IS EASY TO DEY GET NEW AGRIC PRODUCES TO EXPORT LIKE SNAIL SLIME,ROSE FLOWER E GET ONE TREE DEM DEY USE TO PRODUCE VERY EXPENSIVE PERFUME OIL IN INDIA DON FORGET D NAME

5)EASE IN PAYMENT because WHEN A BUYER BUY COCOA FOR EXAMPLE FROM A NIGERIAN SELLER.SUCH MONEY IS HELD BY THE BROKEAGE (IN PARRNERSHIP WITH A bank) to REDUCE RISK ND BOOST CKNFIDENCE WITH THE BUYER. SUCH IS DONE IN E COMMERCE FOR ABROAD.

SNAIL SLIME,ROSE FLOWER E GET ONE TREE DEM DEY USE TO PRODUCE VERY EXPENSIVE PERFUME OIL IN INDIA DON FORGET D NAME

FINALLY THE LAST PROBLEM MANAGEMENT.
Many pple in this country only how to grow their own biz. But dnt know to grow other pple biz(they cash out on ur biz ND Run down the biz).
WHY DO I SAY SO A.NIGERIA IN THE UK OR USA CAN BUY A FARMLAND BUT CANT RUN IT SUCCESSFUL. because OF THIS PROBLEM
SOLUTION IS TO HAVE A FOREIGN AGRO CONSULTANCY FIRMS MAYBE FROM ISREAL.OR USA IN PARRNERSHIP WITH USA, UK AGRIC OR NIGERIA COMMUNITIES OR EMBASSY TO BOOST OUR DISPORA CONFIDENCE

epainos:

OK. We have both agreed on electricity and insecurity.

Let's try to see if ideas can flow to address these Agro related issues you have raised.

Ogaonos:
U not own a big biz so u can relate to some of the things am saying.

U want to consult Kenya or Uganda to managed ur farm bcoz is cheaper I wish u goodluck .if dangote, Nigeria breweries,had such thinking by now star beer could have being in the history class.

epainos:

You ran away bah? Lol. All the questions I asked, you jacked out. Next time study the person you are dealing with before rushing to say what you don't know.

Dangote has African specialists working for him. In fact, he was saved by a Kenyan during his tomato crisis. Israeli ya ya ya. You better look for someone good with the tropical weather. Let me educate you...The main Israeli vegetable seed and equipment company in Nigeria is Hazera with their specialists here at one time. Specialists from France outperform them here. Why? They created African farms managed by Africans. So ..that man from that desert understands your climate better. Dey play. You didn't even mention Thailand....Israel. lol.

You are talking to a sustainability career person. You wan teach me agro-businesses. I was just smiling while reading your last message. I thought you wanted you discuss, but I see that you want show off. Show off with me? You will only wound yourself.

You can't touch or answer anything I asked you. Ya ya ya ya
...Kenyans are cheap. Ya ya ya ya. They are good. Do you know how many projects I have been involved in with Kenyans.

You know zero about agriculture. Just don't go there.

He said Dangote employed Israeli. If I wooz you. nope....na professors from Iceland he brought to his farm.

He even brought in beer talk to climatic issues. I give up.

Goodbye.

Ogaonos:
my bad in not explaining some areas properly ND didn't read ur question properly

Ur question on private farmland estate
Answer is govt policy on private farmland estate .that will guide an estate company on buying from communities and doing layout ND selling to buyers


You ask how to find buyers for farmland
Though advertisement, on social media, radios.though they will have their own website


You ask on investigative journalism on fertilizer racketeering.
Answer once u have farmland estate companies is to asked them the tenant farmers off camera. Whether fertilizer where govt say it has detribute to farmers reach them


About Agro brokerage firms in which u asked about in regard to finding buyers

Answer they are the best options a good Agro brokerage firms partners with registered brokers in Europe, Asia ND USA. With a policy on private farmland estate it makes it more easier how


Give example there will two kind of farmland estate one will be general farming of crops farmland estate another will be specialized farmland estate


Let say there are farmland estate that only give farms to those that grow cocoa only. There terms ND continue. E go dey easy for govt ND brokerage firms. And for mass production

Such system (food chain) no dey na me dey kill agric sector. Our govt sometimes incompetence pple full their ministries

I agree with u on Israeli in regard to our climate that why I said Israeli ND Europeans though Israeli are still very good agric innovators. They invented drip irrigation system, farming in the desert.

On dangote,nigerian breweries I was referring to managers .because na white dey manage his company



U MAY BE GOOD IN AGRO BUSSINESS BUT THAT SECTOR LACK THREE KEY THINGS IN IT FOOD OR SUPPLY CHAIN
1)PRIVATE FARMLAND ESTATE POLICIES
2)MANAGEMENT COMPANY
3)BROKER FIRM (AGRO PLATFORM)


WHY DO I SAY SO IF U NOTICE NEW NOLLYWOOD THEY ENABLE TO FIX THEIR FOOD CHAIN
1)CINEMAS
2)DIRECTORS/PRODUCERS
NOW IS EASY FOR GOVT TO FUND NEW NOLLYWOOD ND YOUTUBE NOLLYWOOD MUCH EASIER ND EFFECTIVE. THOUGH GOVT IS ALREADY FUNDING THE SECTOR THRU BANK OF INDUSTRY. BUT NOW IS EASIER WITH NETFLIX PRIME ND YOUTUBE
.

SO WHEN A SECTOR LIKE AGRIC SECTOR HAS A SHITTY SUPPLY CHAIN SYSTEM IT SHOWS. EVEN THOUGH GOVT FUND IT. IT DOESNT IMPROVE.

epainos:


I am not so interested in answering you again, cos naturally, I am not attracted to "show off". And when one doesn't understand and subject and keeps trying hard to get his side out and not listen, that person can't be taught anything.

Just some recommendations for you:

1. Stop that mentality of "white, white white". We use so many Israeli innovative equipment in our projects, but it doesn't mean that the right man should be one or a white man. I am going to repeat it...and take to correction...get someone who understands the tropical weather, who knows about tropical seeds and dealing with diseases, pesticides, and other issues. Listen...that person must have worked extensively in Africa. Else, you will lose your money. That expert or you can always contact equipment producers when you have issues. And can be done over the Internet, or in the worst case....fly him down to fix the problem, and he leaves. Period.

There are extremely brilliant Nigerians who are valued even outside the country but are willing to return if Naija gets better. So, stop this "white, white, white" mentality. I would rather get a good guy from Thailand or Malaysia if I desperately need one, rather than getting the so-called "white, white, white", you are always mentioning. It is why I said that you are still a learner.

All that you have mentioned, and you are repeating....private farmland, database, and bla bla bla bla. Listen carefully, many suggestions have been passed to the government. Nigerians have the brains to do everything, but the only disturbing factor is corruption. Period. So, cry till 2090, if Naija does not remove corruption, sorry. I know what I wanted to discuss with you, but your "gra gra" just keeps me irritated, and makes me not want to go further with you. A humble heart and a teachable personality will learn so much. Stay humble even in your posts.

I am thriving despite these challenges, and my strategy is: to operate excellently in challenging situations. I don't have Dangot's kind of backing. If not for corruption, Dangot would not be like that. You will know there is a gang of people who just use our money anyhow. If you want to know them, go check the burial of Wigwe, the former Access Bank CEO. Put Dangote in a fair play with everyone, and let's see after just 1 year, he will still be number 1. I am using Dangote here cos you kept referring to him. Corruption is the only issue we need to deal with first.

We are telling you from experience...Nigeria needs:
1. Power to attract producers
2. Kill Corruption
3. Empower of women (there is a reason for this)

Do these three things above, and you will see excellent policies around. I am not new to policy formulation and administration. NiN is enough for the so-called database you are talking about. But see how much has been looted with it. It started during Obasanjo's time. OBJ kicked that crazy man that time. I don't want to mention his name. Then, the root continues. But thank God we have it. Go check how Nigeriens are moving to Nigeria anyhow. To battle that region will take wisdom. Northerners don't want it addressed cos they use them during elections. See, if I was the president, I would just register as many as I could that can pinpoint where they are from. Then, stop it. Massive deportation to Niger, Chad, Benin Republic, and Cameroon will start. When they see that, no one will tell them to not register. And then, close it. Make it extremely hard to get it again. You don't have it, you must produce your passport of Ecowas from your real country to enter Nigeria. Simple.

Can you easily do this in the North? Nope. They will never accept it. They will start wahala. But it has to be done.

You cannot solve the whole problem of Nigeria which is a foundational issue. The amalgamation of Lord Luggard is a mistake. So, we either separate or we come together to fix these issues.

So, while these things are there, what can an individual do to still make way? And these are things I am doing. Guy man, these farmland estate and Agro brokerage issues are two points I like which I have been trying to implement also. It is not as easy as you are saying it. So, if you are interested in getting some of these things done, find a way to still operate amid the Nigerian factors.

For Agro...yes, I can use Israeli technology to use less land. That's what they solved. If you know how much just 1 acre can generate...you will be shocked. If you know your coins. Buy that 1 plot in the city, fence around, and do your thing. You have solved security. Use technology and achieve a yield of 10 acres or more on that 1 acre.

The challenge right now is finding honest Nigerians to work with. No producer can do anything about it, other than the ones who are already rolling with financial looters. They can arrest anyhow. They intimidate their workers and nothing happens to them. Period. But the majority of individuals can do nothing because the Police will even milk you. How do you produce without workers? How do you produce when they keep stealing from your farm?

These issues are deep. You aren't into it, so just stop making noise. These issues are extremely deeper than all your shouts.

Jagabanbattle:


It’s fully floated. If you like, go and buy dollar from bank and sell to Aboki like most criminal does before. Let’s see if you will make profit.