₦airaland Forum

SensetionalGoal:
That's the problem when we sane Nigerians said abinitio that tinubu is a disaster nobody listened we practically allowed Mahmood foister tinubu on us what a foolish decision! how can one change 300 and something thousand naira just for 200 dollars that's crazy

PuZZyNegro:
My people, a family member of mine is about to travel abroad for a business and asked that I help her get some dollars.

I needed just $200 dollars.

Guess what? I gave aboki 324k and aboki handed two 100 dollar notes to me.

I just put the notes inside my wallet like nothing happened.

We’re finished

FOLYKAZE:
What is all these yap about dollar? Are we in a dollar economy? Do we earn or spend dollar in this country? Many who have not earned a dollar or hold $100 in their entire life is all yapping hurling insult on Tinubu.

As for the Op, you have ₦350,000 stashed away in your account. This implies you likely own more than half a million liquidated asset and value more than million naira. That whole lot is earned on this land and only on this land. And I need to ask you... How many folks in USA have $200 saved in their account like you that have the equivalent? According to GOBankingRates, below 35% of total Americans have $100 saved in their deposit bank and that does not cover their monthly bills.

IbeOkehie:
This means that SAP and the privatization & price deregulation of the economy must be reactivated on a massive scale to unlock productive potential, which will then enable Nigeria to benefit from naira devaluation. That is the recommendation


The export of granite from Nigeria is illegal. No matter how low the naira goes, that avenue of legal productivity and tax revenueis closed.

Rice enjoys a federal subsidy and protection from imports. This actually depresses local production in a strong naira scenario. Plane maintenance can be done in Nigeria if the naira is depressed enough BUT the airports and other facilities...in fact LAND itself, is under complete federal control. Nigerian cement is the most expensive in the world because imports are banned. Look at electricity, a locked market that Nigerians keep claiming is privatized Private refineries are complaining because the Federal Government won't let them have crude oil. I can go on and on and on. So no more piece meal reforms. The essentials have been repeatedly listed. Wholesale SAP Reform is the recommendation. It MUST be done or Nigeria will continue to stagnate. The people of Nigeria can do whatever the hell they want, it's their funeral. Hopefully that makes it all clear.Thanks. Good Luck to Nigeria.

SensetionalGoal:
That's the problem when we sane Nigerians said abinitio that tinubu is a disaster nobody listened we practically allowed Mahmood foister tinubu on us what a foolish decision! how can one change 300 and something thousand naira just for 200 dollars that's crazy

omooba969:
So it's Mr President who caused the decline of Naira, ehn? 😏

The bedrock of your education is questionable, walahi. 😒

SensetionalGoal:
That's the problem when we sane Nigerians said abinitio that tinubu is a disaster nobody listened we practically allowed Mahmood foister tinubu on us what a foolish decision! how can one change 300 and something thousand naira just for 200 dollars that's crazy

luluosas:
Chief Tinubu has destroyed Nigeria

Gerrard59:
Thanks for the thorough explanation. So, now I understand the fundamentals involve in the difference between Japan/South Korean currencies against the Nigerian naira. Their economies are freer than ours.

He had very little interest in material things. We had a common interest in politics and I believe it was our socialist political values that cemented our friendship because we were always discussing politics and how to salvage Nigeria right up to his passing.

Karleb:
E shock you abi?

Our target at APC is to make $500 = N1m by December 2024. We shall not rest until we achieve this objective.

grandstar:
And you think Peter Obi could do better? A man that won't have the support of both houses, and in which Atiku and Tinubu would ensure they make his 4 years miserable, that is if he isn't impeached?

Buhari left a complete mess and Tinubu is working hard to repair the damage, hence the present economic turmoil.

humilitypays:
What do you think or suggest as the solution?


What can Nigerians do to change the situation for better? Thanks in anticipation

IbeOkehie:


Greed and selfishness are common human failings that can only be acted on when there's OPPORTUNITY to do so.

The major cause of corruption in Nigeria is

government ownership of economic resources & commercial companies,
government payment of subsidies and
government regulation of prices.

That's it. Once all that government involvement is abolished, there will be very little opportunity for anyone to act upon their natural tendency to be greedy, wicked and selfish. I've never heard of anyone consenting for sex as a condition to admission to Covenant or Igbinideon Universities, but it's rampant at Unilag.

Evidence in Nigeria - telecoms, cement and broadcasting companies. Very little complaints of corruption in those industries because government has very little involvement in their operations.

Simple stuff, but somehow very hard for Nigerians to comprehend.

herich:
Who brought in Buhari to mess up the country,
Was it not you and Tinubu

IbeOkehie:
And "freer" economies are more productive. It's really that simple, there's no mystery to it.

Many people don't understand the extent of Government control of the Nigerian economy. You know the hotel business well. You might wanna go ask if that industry was PRICE REGULATED before SAP. Ordinary hotel business. I strongly suspect it was....because NICON and Federal Palace Hotel were once owned by government and they surely wouldn't let private competition crimp their gravy train. Think of all the State government hotels all over the country. SAP mandated the exit of the Federal Government from the hotel business. You should look into it if you have the time, just for sake of knowledge.

Once you understand the IDEOLOGICAL orientation of the Nigerian people, especially the educated class, your eyes will be opened to the dead hand of government everywhere. This is a quote from an eulogy to Abba Kyari by Geoffrey Onyema.
https://x.com/GeoffreyOnyeama/status/1251907080010772485

Adams Oshiomhole, Sam Amadi, Murtala Mohammed, Lateef Jakande and many others have made similar admissions of socialist ideology. Sam Amadi was the former Chairman of NERC. If you followed his tenure, you would know how he destroyed the COST REFLECTIVE TARIFF framework.

SensetionalGoal:
That's the problem when we sane Nigerians said abinitio that tinubu is a disaster nobody listened we practically allowed Mahmood foister tinubu on us what a foolish decision! how can one change 300 and something thousand naira just for 200 dollars that's crazy

Gerrard59:
I no lie give you, but most times, Nigeria defies rational thinking. The more one tries to understand, the more one misunderstands.

Tuesday, 13th August 2024
Last week, Vice President Kashim Shettima announced the plan of the Bola Tinubu administration to set up a Commodity Board which will be given the mandate to assess and regulate food prices, as well as maintain a strategic food reserve for stabilising prices of crucial grains and other food items. That’s the way to go if the poor in the society are to “breathe” as the implementation of the reforms embarked upon by the Tinubu administration gather pace.

Shawarmagirl:
In UK, £30 will get you a lot of food stuff s including chicken, beef, fish, turkey just mention them and it will last you for weeks. In some cases, you'll have change left.

grandstar:
Your thinking is petty. I could even add that was it not Tinubu that frustrated GEJ removal of the subsidy in 2012?

Tinubu wanted political office and realized the only means to achieve it was through a Buhari presidency. Buhari was the only man capable of unseating Jonathan and the PDP.

Buhari's achilles heel was always the South. Tinubu realized if he gave Buhari the Southwest, victory was assured and it worked. Buhari won the presidency.

Did Tinubu expect Buhari to be inept, or so inept? I doubt it. First, in his inaugural speech, Buhari let it be known he "Belong to everyone and to no one". This crushed Tinubu as it was later learnt.

But that again fails to explain if he knew Buhari would be so inept? Tinubu never knew. Most leaders rely on capable technocrats to make policies. What does OBJ know about economics? Next to nothing but he appointed Okonji-Iweala and implemented her policies.

Any president is as capable as the technocrats he appoints, and the depth of their policy implementation. Many presidents don't know anything. Many are lamentable in their understanding of economics.

Buhari ignored sound advise from many of his ministers, especially the finance and oil minister (Kachikwu)

Tinubu might have expected him to listen to his technocrats but he did not. Many in APC called him an illiterate behind his back. They realized the man was a disaster.

But if Tinubu knew he would be a disaster, but it assured him the presidency in 2023, would Tinubu still have placed in there? YES

Peter Obi should better learn. If he wants office, he better be wise.

The only way, he, an Igbo man can win the presidency is if he serves as a deputy to Atiku. Had they joined hands in 2023, Peter Obi would have been the vice by now, and waiting to be voted into office in 2031.

In addition, Tinubu's picking a Northern Muslim as his running mate guaranteed him large votes in the North, as Northerners won't vote for a Northern Christian.

JikSneh:
Anyone who doesn't like the current situation should leave the country, after all none of you or Ipobidients voted Jagaban......we yorubas are here to stay and rule.
It's south western turn, no number of IPOB or ibo dogs can change it.
If northerners protest from now till 2028, Asiwaju will not step down, Yoruba will rule y'all till may 2031, if you don't like it, look for another country.
Ire oo

JikSneh:
Anyone who doesn't like the current situation should leave the country, after all none of you or Ipobidients voted Jagaban......we yorubas are here to stay and rule.
It's south western turn, no number of IPOB or ibo dogs can change it.
If northerners protest from now till 2028, Asiwaju will not step down, Yoruba will rule y'all till may 2031, if you don't like it, look for another country.
Ire oo

IbeOkehie:
Nigerians must change their ideological beliefs and VOTE FOR POLITICIANS THAT BELIEVE IN FREE MARKETS & TRIBAL AUTONOMY !!!

Detailed above https://www.nairaland.com/8182619/cant-believe-got-whole-324k/4#131474779

https://www.nairaland.com/8171048/opposition-reps-stage-walk-out/3#131253313

Good Luck to Nigeria.

FOLYKAZE:
What is all these yap about dollar? Are we in a dollar economy? Do we earn or spend dollar in this country? Many who have not earned a dollar or hold $100 in their entire life is all yapping hurling insult on Tinubu.

As for the Op, you have ₦350,000 stashed away in your account. This implies you likely own more than half a million liquidated asset and value more than million naira. That whole lot is earned on this land and only on this land. And I need to ask you... How many folks in USA have $200 saved in their account like you that have the equivalent? According to GOBankingRates, below 35% of total Americans have $100 saved in their deposit bank and that does not cover their monthly bills.