₦airaland Forum

Prince1759:
Was it any good before the crisis?
Middle East crisis is now an excuse for failure.

Tooreda:
These BASTARDS destroyed the economy long before the ongoing crisis. Why hide under this now to claim the economy is in shock?

Omooba77:
https://www.channelstv.com/2026/04/13/nigerias-economy-in-shock-edun/

SmartPolician:
Shock is an understatement - the economy is in a comatic state that Tinubu has put it. Soon, Tinubu will sack Mr. Edun because he hates hearing the truth.

anonimi:
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The balablu president's minister is mixing things up very badly.

Why should Nigerian economy be in shock when we rely on oil revenue to flex? Has the Iran war crashed oil price or hiked it

SmartPolician:
Shock is an understatement - the economy is in a comatic state that Tinubu has put it. Soon, Tinubu will sack Mr. Edun because he hates hearing the truth.

WorkTheTalk:
Can you imagine? Tinubu removed subsidy, devalued naira, keeps collecting loans at random, all with little or nothing to show for it, except to fuel his political ambitions. All these malpractices had already shocked the economy. Blaming the war between the US and Iran is to cover up your incompetence.

I'm surprised you did not blame the high cost of beans on the war between Russia and Ukraine.

KendoXR:
Why are you telling us, your job is to find solutions

Omooba77:
Nigeria economy is indeed in shock........

anonimi:
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The balablu president's minister is mixing things up very badly.

Why should Nigerian economy be in shock when we rely on oil revenue to flex? Has the Iran war crashed oil price or hiked it

dederocs:
We must indegenise our local economy policy, this is critical. Step out of using global rates for crude for now. We are a sovereign nation. It's better for the bulk of the money to be in circulation rather than be in the hands of political leaders or government.

Basicend:
Hmm. If we pull from OPEC and start dictating our own price and production quota, it still does not solve the issue honestly.

The issue is not with revenue, but proper allocation, supervision and usage of the derived proceeds.

Our process is too weaved with corruption. That's why we are in same shoes as Venezuella etc.

Tooreda:
How will the thoughtless foot soldiers react to this now?

Tooreda:
How will the thoughtless foot soldiers react to this now?

Basicend:
Hmm. If we pull from OPEC and start dictating our own price and production quota, it still does not solve the issue honestly.

The issue is not with revenue, but proper allocation, supervision and usage of the derived proceeds.

Our process is too weaved with corruption. That's why we are in same shoes as Venezuella etc.

SmartPolician:
Shock is an understatement - the economy is in a comatic state that Tinubu has put it. Soon, Tinubu will sack Mr. Edun because he hates hearing the truth.

dederocs:
We can still go back, but we can step out of it, at critical times. A lot of nations step out of international conventions that are not legally binding to protect their national interest, a lot of nations do this. Nation must thrive first.

SeizeTheMemes:
This is a dream. Without OPEC we would be exploited even more because their would be no unified oil price control. Do you think we have the geopolitical power to just do that? Do you your government even wants domestic growth?

Every oil producing country is in OPEC apart from Russia which an observer and regional power and the us which is a global power.

simpleseyi:
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Can you read and write at all?

dederocs:
Exploited by who?

I don't engage shallow people, let's keep the discussion intelligent, talk with evidence... exploited by who?

Am saying within Nigeria, you people talk for argument sake... please read to comprehend, I said in dire situations. Let's talk like intelligent people stay in context. I said in dire situations we can opt out temporary to save the economy, internally, within Nigeria...don't know what you are talking about 'unified price'...we don't have unified price now, market forces are in charge.

Please understand a discussion before jumping into it.

dederocs:
Exploited by who?

I don't engage shallow people, let's keep the discussion intelligent, talk with evidence... exploited by who?

Am saying within Nigeria, you people talk for argument sake... please read to comprehend, I said in dire situations. Let's talk like intelligent people stay in context. I said in dire situations we can opt out temporary to save the economy, internally, within Nigeria...don't know what you are talking about 'unified price'...we don't have unified price now, market forces are in charge.

Please understand a discussion before jumping into it.

dequir:
You are the one rambling here. dederoc is teaching you crude oil geopolitics, instead of taking the time to learn, you are busy claiming the knowledge you do not possess.

SeizeTheMemes:
The problem is we are not self sufficient. The war has increased the price of thing like fertiliser, aluminium. Even if oil gains food still goes up because we lack strong agriculture, commodities go up because we lack manufacturing and we still import oil despite the dangote refinery.

We somehow took the worse decision in every possible option. The only way to fix this is to increase agriculture substantially and build a massive heavy industry sector. Although our elite seem comfortable with the current state of affairs.

anonimi:
Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?

In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;

or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority?
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The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.

Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.

https://www.thisdaylive.com/index.php/2024/10/12/neo-black-problem-must-blacks-be-ruled-by-whites-in-order-to-prosper/

anonimi:
How Indorama sustains manufacturers, boosts Nigeria’s FX earnings

Indorama Eleme Petrochemicals Limited (IEPL) has emerged as a major value creator in the Nigerian economy. It is responsible for the survival, growth and sustenance of many manufacturing companies in Nigeria today. A large number of plastic and allied firms depend on the Eleme-based company for petrochemical resins (or polymer resins) which serve as their raw materials.

The petrochemical company is just one of the several subsidiaries of Indorama-Nigeria Group, which also comprises Indorama Eleme Fertilizer & Chemicals Limited (IEFCL), Indorama PET Nigeria Limited, and Indorama Port Operations.

Since Indorama Corporation of Indonesia became core investor in the old Eleme Petrochemicals Company Limited (EPCL) in 2006 through privatisation programme of the Federal Government, the group has become a game changer in the Nigerian economy.

The petrochemical company has solved the major challenge facing a number of manufacturers— poor access to raw materials. Rather than scramble for foreign exchange to import inputs, the company ensures that manufacturers have access to their critical raw materials, enabling them to save costs and improve margins.

The major resins used by plastic and allied companies are polyethylene and polypropylene. Indorama produces about 45 grades of these products for various industries. About 600 of such companies in Nigeria depend on IEPL for their survival. They are estimated to have over 90,000 workers.

https://businessday.ng/real-sector/article/how-indorama-sustains-manufacturers-boosts-nigerias-fx-earnings/