earthrealm:
so big dilenmna,
hv a plot of land i hv been planning to develop in ph, but the rains last yr made me decide to wait till this ye/dry season.
now this wahala has started..i mean increase in price. really confused on what to do

delay the project and hope things will come down, and commence..believeing that things will get worse.
deep inside me...i feel it will get worse, as oil being our only source of forex
comments/advice needed pls

journey of million miles start with a step, now or later cycle of life remains unchanged. The houses our fathers build those days when cement was 25 kobo per bag, some of them then can't afford it. Imagine now that same comment was 2,500 people are building massive mansions. If cement go to 5k per bag, people will still be building. Think about it, make up your mind.

One advise i was given by my mentor and some Elders here on NL is to never let the current situation stop your project. I can tell you now that am almost done with my project, it was the best advise because prices had doubled and even tripled in some case on material since then. So i will recommend the same advise, continue your project if there is mean to do so. Either way the economy turns, you can't go wrong with Physical Investment. Its longtime investment that might not yield today, buy during the up and down, it always balances itself out. Good luck.

If this helps anyone... There is a guy, a man actually, who I was taken to a while back. He is a funiture maker who returned to Nigeria from Europe to open up an outlet..I was taken there when I was struggling with the cost of importing a snooker table. He had all the machinery, all the expertise.I was suprised he was in the city and made no noise, but I realised everybody knew where he was.No fancy shop, just serious, heavy machines and sweating bodies.He made me a grade A snooker table. He makes settees, sofas, tv benches and alled stuff. I remember he told me, some people brought leather and fabric from abroad and he used it for sofas for them. He had some made locally too. I have not seen anyone who made stuff close to him at home. However, and as to be expected, the waiting time was long.I waited 3 months to get the snooker table due to the queue. He has his shop in a place called orogun in Ibadan. Not been there in a year now, but I will be there next month and will share his details for who require.However,without needing to wait for me; he is traceable easily from orogun bus stop. Not far from the place.He is quite popular.

Thanks

Empiree:
Lots of builders will get caught up in this inflation man. Thank goodness i finished my decking before the damn thing jumped. Even at that time in November 2015, the price was up. I had to add more money for the quote. Now i am afraid of wiring bcuz the way you brothers are talking about it. Electrician already quoted 1m (materials not included bulbs or chandlers and all that)+ 400k workmanship = 1.4m and I wanna pee pee as i got the quote 2wks ago. And now with dollar rise, I am afraid by the time i gather 1m, it might rise. That should be another month from now.

Matter of fact, i think i should post the quote for you to see if it is moderate one. Will hola at you when i found it. I de shivering as i set my eyes on it.

Use the money you have AT HAND NOW, to buy "some" of the Cables you need.... at the CURRENT PRICE ...AND STORE IT SAFELY.
Do so as money comes-in (say in tranches of 200K).
It will have saved you almost 500K by the time you are ready.



Lastpage!

FastShipping:


I bought 16mm in January 2016 for N1900.

Buhari has destroyed Nigeria.

Demainman1:
I remember that a lot of folks here supported this wonderful change from buhari and his APC people
Thank God we are all enjoying the change today.

By the time they finish with us ehn even to buy one block will be wahala.

Haaaa! make we fear God o... except these comments were made hyperbolically.

I know it is Buhari that is selling all these stuff and hiking the price on a daily basis even when some of these items had been in-store for weeks!
I met a seller recently and he told me point-blank that if l dont buy now, he would (and others in their line) simply create an artificial scarcity by "locking-up" the items in the shop and release it after two weeks!...by then, we would have doubled the price and you have no choice than to buy it!
I asked him if that sort of sharp-practice was ordered by Buhari since we all love to blame the 73yr old man for everything imaginable, including our unparalleled penchant for "self exploitation and unbridled GREED".

We are quick to attach everything to the Dollar, like everything is imported!
Even the Garri seller is quick to adduce "Dollar don rise" to greedy doubling of the price of Garri, ditto Tomato seller, Palm oil seller, Cooked Beans seller is not left out.

I know we Nigerians hate the truth with some bitterness.
But the Truth is that we are a greedy people, very exploitative (that is why our own price-demand curve never obeys simple laws of Economics vis-a-vis DD Vs. SS.
We are wicked to each other and would eat one another, given the chance.
Let us keep blaming Buhari instead of telling ourselves the Home Truth: STOP THESE SELF-EXPLOITATION OF ONE ANOTHER.

Buhari is just one man, honest and working too hard for his old age, to change the wicked and greedy mentality of 180 Million shysters!
He will/can fail but his failure will be worse on the populace, on we Nigerians who either directly, are trying to sabotage his Govt or those who indirectly, contribute tot he hyper-inflation through senseless price hyke of Goods and Services.

Even if Jesus should come down and lead this country, he will have a very hard time controlling the Greed, exploitative and wicked nature of we Nigerians.
Except by magic, no one on earth can stop our downward spiral into infamy... except we decide to stop it by ourselves.

But let us at least, be honest with ourselves and stop pretending like we believe it when we blame Buhari for our own actions, greed and wickedness.
I can understand the "political accusers" (l see and headbutt a lot of them in the Politics section.... thats cool) but its another thing when we come here where "everything is real"....and we still say the same things we say over there.

Look at the price of Milk, Ribena, Pap (Yes, Ogi! Akanmu!! ) Roasted Plantain, groundnuts, all made in Nigeria yet the price has doubled within one month! Is it Buhari that is selling these items, producing them or are they also imported using Dollars?

I dont want to write too much here (Property) because it is not Politics Section and l dont want us to "start it" over here.

Let me just take iron rods, which is what most people have identified here:
It is produced in Nigeria so you dont have to buy imported one. But the local one is more than doubled in price as well.
So, Let us ask ourselves: How did Dollar affect the price of this local product.... and how can we blame Buhari for it?
Iron is smelted to produce "Rods".
Aside the raw "iron ore" (which we have in abundance in Nigeria, the other critical component is Electricity.
Our Electricity is at an all time low.
Is it Buhari that steals our Transformers and resell it in the open market?
*Is it Buhari that destroys GAS pipelines that supply gas to the Turbines generating Electricity at the Power Plants?
*Is it Buhari that "shared-out and bought" all the DISCOS and GENCOS in the last five years?
*They said they want more money (tariff increase) if they are to give us stable power, the old man "grudgingly agreed" because he wants Nigerians to have stable power supply but as usual, they just took the money and pocketed it
*Is it Buhari that works in those places or we Nigerians?
*Is it Buhari that destroyed all our Steel Rolling Mills (Ajaokuta, Itakpe, Ekpan, e.t.c) or we Nigerians?
*Is it Buhari that owns the current Steel producing Companies or is he the one hiking the selling price of those products?

So, Is it Buhari that is destroying Nigeria... or we Nigerians?

What exactly is the man supposed to do?
Carry Gun and hurl every thief into detention... then we willvall carry placards and say he is a Dictator, this is Demo-crazy!
Is he supposed to "impose" price Controls when we are all shouting free-market and he should not tell us how much to sell our products, in a democracy?

The President will try his best (Yes, we voted for Change...but most greedy, selfish, wicked, exploitative and manipulative Nigerians ARE NOT READY TO CHANGE!
We did not vote Buhari to ENFORCE CHANGE because He cant do so in a democracy! If it were in 1983, all these nonsense would never happen, Buhari would have made some scape-goats amongst the populace and all the rest will get the message and sit up.

But in a "Democracy", you can only "tell the people to do what is right"....... If them "en-masse" decide to be wicked and exploit themselves, then so be it.
That is where we are today!
Not much to do with Buhari except if we want to be HYPOCRITES.




Lastpage!

NB: at the two posters quoted above, please dont take this personal, l only used your post to emphasis what l wanted to discuss, it has nothing to do with the two of you 'personally'. I read over a hundred a day, of same comments, on different threads.

lastpage:





Haaaa! make we fear God o... except these comments were made hyperbolically.

I know it is Buhari that is selling all these stuff and hiking the price on a daily basis even when some of these items had been in-store for weeks!
I met a seller recently and he told me point-blank that if l dont buy now, he would (and others in their line) simply create an artificial scarcity by "locking-up" the items in the shop and release it after two weeks!...by then, we would have doubled the price and you have no choice than to buy it!
I asked him if that sort of sharp-practice was ordered by Buhari since we all love to blame the 73yr old man for everything imaginable, including our unparalleled penchant for "self exploitation and unbridled GREED".

We are quick to attach everything to the Dollar, like everything is imported!
Even the Garri seller is quick to adduce "Dollar don rise" to greedy doubling of the price of Garri, ditto Tomato seller, Palm oil seller, Cooked Beans seller is not left out.

I know we Nigerians hate the truth with some bitterness.
But the Truth is that we are a greedy people, very exploitative (that is why our own price-demand curve never obeys simple laws of Economics vis-a-vis DD Vs. SS.
We are wicked to each other and would eat one another, given the chance.
Let us keep blaming Buhari instead of telling ourselves the Home Truth: STOP THESE SELF-EXPLOITATION OF ONE ANOTHER.

Buhari is just one man, honest and working too hard for his old age, to change the wicked and greedy mentality of 180 Million shysters!
He will/can fail but his failure will be worse on the populace, on we Nigerians who either directly, are trying to sabotage his Govt or those who indirectly, contribute tot he hyper-inflation through senseless price hyke of Goods and Services.

Even if Jesus should come down and lead this country, he will have a very hard time controlling the Greed, exploitative and wicked nature of we Nigerians.
Except by magic, no one on earth can stop our downward spiral into infamy... except we decide to stop it by ourselves.

But let us at least, be honest with ourselves and stop pretending like we believe it when we blame Buhari for our own actions, greed and wickedness.
I can understand the "political accusers" (l see and headbutt a lot of them in the Politics section.... thats cool) but its another thing when we come here where "everything is real"....and we still say the same things we say over there.

Look at the price of Milk, Ribena, Pap (Yes, Ogi! Akanmu!! ) Roasted Plantain, groundnuts, all made in Nigeria yet the price has doubled within one month! Is it Buhari that is selling these items, producing them or are they also imported using Dollars?

I dont want to write too much here (Property) because it is not Politics Section and l dont want us to "start it" over here.

Let me just take iron rods, which is what most people have identified here:
It is produced in Nigeria so you dont have to buy imported one. But the local one is more than doubled in price as well.
So, Let us ask ourselves: How did Dollar affect the price of this local product.... and how can we blame Buhari for it?
Iron is smelted to produce "Rods".
Aside the raw "iron ore" (which we have in abundance in Nigeria, the other critical component is Electricity.
Our Electricity is at an all time low.
Is it Buhari that steals our Transformers and resell it in the open market?
*Is it Buhari that destroys GAS pipelines that supply gas to the Turbines generating Electricity at the Power Plants?
*Is it Buhari that "shared-out and bought" all the DISCOS and GENCOS in the last five years?
*They said they want more money (tariff increase) if they are to give us stable power, the old man "grudgingly agreed" because he wants Nigerians to have stable power supply but as usual, they just took the money and pocketed it
*Is it Buhari that works in those places or we Nigerians?
*Is it Buhari that destroyed all our Steel Rolling Mills (Ajaokuta, Itakpe, Ekpan, e.t.c) or we Nigerians?
*Is it Buhari that owns the current Steel producing Companies or is he the one hiking the selling price of those products?

So, Is it Buhari that is destroying Nigeria... or we Nigerians?

What exactly is the man supposed to do?
Carry Gun and hurl every thief into detention... then we willvall carry placards and say he is a Dictator, this is Demo-crazy!
Is he supposed to "impose" price Controls when we are all shouting free-market and he should not tell us how much to sell our products, in a democracy?

The President will try his best (Yes, we voted for Change...but most greedy, selfish, wicked, exploitative and manipulative Nigerians ARE NOT READY TO CHANGE!
We did not vote Buhari to ENFORCE CHANGE because He cant do so in a democracy! If it were in 1983, all these nonsense would never happen, Buhari would have made some scape-goats amongst the populace and all the rest will get the message and sit up.

But in a "Democracy", you can only "tell the people to do what is right"....... If them "en-masse" decide to be wicked and exploit themselves, then so be it.
That is where we are today!
Not much to do with Buhari except if we want to be HYPOCRITES.




Lastpage!

NB: at the two posters quoted above, please dont take this personal, l only used your post to emphasis what l wanted to discuss, it has nothing to do with the two of you 'personally'. I read over a hundred a day, of same comments, on different threads.

This is property section and not let us discuss politics and economy here. But let me make few points and move on.

Buhari's economic policies have stagnated and grounded everything to a halt. He did not cause the recession but he made it worse. He came in and for six months he didn't appoint finance minister who suppose to oversee and manage the economy. When you are in a recession, you don't mop up money from circulation. When you are in recession, you don't stifle the cash flow or make it hard for people to access loan. It is glaring for sound minds to know that all we need at this time is economic stimulus package in form of capital projects and access to small business loan. What was Buhari doing between March 28 - May 29, 2015? Buhari should have gone into borrowing immediately he assumed office. Massive loan from World bank and any other source available within few months into his administration. Deficit are not as bad as many people think as long as you manage it well. Use the loan judiciously and invest the loan into building roads, bridges, schools, accessible loans for small businesses, massive housing etc. All these projects would have injected money into the system and 1-2 million jobs would have been created in the process. The stubborn man of a president is hell bent on doing it his own way and listen to no one. I read somewhere that funding of 2016 budget was not even up to 24% as at September, 2016. Ministry of Work and Power is not functioning as it should because Buhari wouldn't trust his minister to award contracts as his minister would have liked. Buhari's policy has been one capital project per region at a time. I don't know how that is going to help when we have development deficit. You cannot just think everybody is here to steal. You have to fully trust your ministers with money. All you have to do is oversight and monitoring. Buhari trusts no one. Everybody is here to steal except him.

Do you realize that we still import most of what we need in this country? Even some of the products that are being produced in Nigeria depend on raw materials from overseas. These companies have to source for foreign exchange to procure raw materials. I am not saying Buhari should be blamed for all of our woes but this man seems to only believe in his own idea. His ideas are paramount and we are in worse situation than we were on May 28, 2015.

Buhari's policies are not working. We do not need to bury our heads in the sand and say let's stay the course. I was one of his biggest supporters on nairaland but let's call a spade a spade. Jonathan didn't do well but Buhari hasn't been better.

Hmmmm

lastpage:





Haaaa! make we fear God o... except these comments were made hyperbolically.

I know it is Buhari that is selling all these stuff and hiking the price on a daily basis even when some of these items had been in-store for weeks!
I met a seller recently and he told me point-blank that if l dont buy now, he would (and others in their line) simply create an artificial scarcity by "locking-up" the items in the shop and release it after two weeks!...by then, we would have doubled the price and you have no choice than to buy it!
I asked him if that sort of sharp-practice was ordered by Buhari since we all love to blame the 73yr old man for everything imaginable, including our unparalleled penchant for "self exploitation and unbridled GREED".

We are quick to attach everything to the Dollar, like everything is imported!
Even the Garri seller is quick to adduce "Dollar don rise" to greedy doubling of the price of Garri, ditto Tomato seller, Palm oil seller, Cooked Beans seller is not left out.

I know we Nigerians hate the truth with some bitterness.
But the Truth is that we are a greedy people, very exploitative (that is why our own price-demand curve never obeys simple laws of Economics vis-a-vis DD Vs. SS.
We are wicked to each other and would eat one another, given the chance.
Let us keep blaming Buhari instead of telling ourselves the Home Truth: STOP THESE SELF-EXPLOITATION OF ONE ANOTHER.

Buhari is just one man, honest and working too hard for his old age, to change the wicked and greedy mentality of 180 Million shysters!
He will/can fail but his failure will be worse on the populace, on we Nigerians who either directly, are trying to sabotage his Govt or those who indirectly, contribute tot he hyper-inflation through senseless price hyke of Goods and Services.

Even if Jesus should come down and lead this country, he will have a very hard time controlling the Greed, exploitative and wicked nature of we Nigerians.
Except by magic, no one on earth can stop our downward spiral into infamy... except we decide to stop it by ourselves.

But let us at least, be honest with ourselves and stop pretending like we believe it when we blame Buhari for our own actions, greed and wickedness.
I can understand the "political accusers" (l see and headbutt a lot of them in the Politics section.... thats cool) but its another thing when we come here where "everything is real"....and we still say the same things we say over there.

Look at the price of Milk, Ribena, Pap (Yes, Ogi! Akanmu!! ) Roasted Plantain, groundnuts, all made in Nigeria yet the price has doubled within one month! Is it Buhari that is selling these items, producing them or are they also imported using Dollars?

I dont want to write too much here (Property) because it is not Politics Section and l dont want us to "start it" over here.

Let me just take iron rods, which is what most people have identified here:
It is produced in Nigeria so you dont have to buy imported one. But the local one is more than doubled in price as well.
So, Let us ask ourselves: How did Dollar affect the price of this local product.... and how can we blame Buhari for it?
Iron is smelted to produce "Rods".
Aside the raw "iron ore" (which we have in abundance in Nigeria, the other critical component is Electricity.
Our Electricity is at an all time low.
Is it Buhari that steals our Transformers and resell it in the open market?
*Is it Buhari that destroys GAS pipelines that supply gas to the Turbines generating Electricity at the Power Plants?
*Is it Buhari that "shared-out and bought" all the DISCOS and GENCOS in the last five years?
*They said they want more money (tariff increase) if they are to give us stable power, the old man "grudgingly agreed" because he wants Nigerians to have stable power supply but as usual, they just took the money and pocketed it
*Is it Buhari that works in those places or we Nigerians?
*Is it Buhari that destroyed all our Steel Rolling Mills (Ajaokuta, Itakpe, Ekpan, e.t.c) or we Nigerians?
*Is it Buhari that owns the current Steel producing Companies or is he the one hiking the selling price of those products?

So, Is it Buhari that is destroying Nigeria... or we Nigerians?

What exactly is the man supposed to do?
Carry Gun and hurl every thief into detention... then we willvall carry placards and say he is a Dictator, this is Demo-crazy!
Is he supposed to "impose" price Controls when we are all shouting free-market and he should not tell us how much to sell our products, in a democracy?

The President will try his best (Yes, we voted for Change...but most greedy, selfish, wicked, exploitative and manipulative Nigerians ARE NOT READY TO CHANGE!
We did not vote Buhari to ENFORCE CHANGE because He cant do so in a democracy! If it were in 1983, all these nonsense would never happen, Buhari would have made some scape-goats amongst the populace and all the rest will get the message and sit up.

But in a "Democracy", you can only "tell the people to do what is right"....... If them "en-masse" decide to be wicked and exploit themselves, then so be it.
That is where we are today!
Not much to do with Buhari except if we want to be HYPOCRITES.




Lastpage!

NB: at the two posters quoted above, please dont take this personal, l only used your post to emphasis what l wanted to discuss, it has nothing to do with the two of you 'personally'. I read over a hundred a day, of same comments, on different threads.

Complete nonsense. Can you predict the value of naira to dollar next week? Why won't people jack up their goods price in a volatile economy like ours?

What is buhari doing in London when he should be home trying to fix Nigeria?

You should be ashamed of yourself for attempting to defend the indefensible.

Talking about akamu and akara sellers, why won't they jack up their own prices if their landlord increase their house rent? What about the transportation cost? So that no dey affect akamu seller ehn.

Anyway, no more politics for property section. I'm out.

Very nice epistle. However, the premise that because garri has no foreign input therefore the price should remain unchanged is fallacious.
Supposing I'm a garri producer (mono product producer), and I produced N1000 at a profit margin of 10%, that is N100. Assuming I'm a regular buyer of wire with significant foreign input in its production. If before I was able to buy 5 units of wire with my N100 profit but can only buy 2 units now because of price change. Should I still sale my garri at previous price? No. I have to adjust such that I can at least still buy same quantity of wire. Same goes for sellers of other commodities.

Such is the influence of multiplier effect (it's especially true of fuel pump price and exchange rate). And that explains what HRM Sanusi said: defend the naira and there will little speculation around it.

Trying to exonerate the present government for complicity in current economic malaise is totally unpatriotic.

You can only say you've fought corruption, if when you're not there, there's little incentive to be corrupt and that can only happen when the various institutions (such as auditing, law enforcement, budgeting and implementation) are strengthened.

There's no society that law of DD and SS is not valid. For instance, as the economic situation bites, there are so many things that I've got to do without, same goes with others. DD and SS are ideal situations, where other variables and held constant. Which differs from real life situation. Besides some goods are absolutely necessary eg petrol, salt and cement. What we are experiencing now is low supply, high demand. People wants to build, some of the things are imported. No FX to import more to meet demand. Copper used in making wire is imported, iron ingot for making rods are imported etc. What do you make of that?

Rather than only look at how can we reduce import, govt should also look at how can we increase export. Why can't we refine our oil before exporting? Instead of looking at how much tax can we generate, govt should give waivers to SMEs to encourage growth. Rather than pay the 'extremely poor' N5,000, engaged youth in cleaning our dirty streets. Rather than continuously feed IDPs and cut grass around their camp, relocate them and engage them in farming - they're Nigerians and not refugees.

The truth is that this government only got it right on inauguration day with that legendary speech. Thereafter, it's been 'no direction'.

"You'll not be judged by your intentions but by what you did and what you failed to do". Intentions no matter how noble they may be are never measured.

lastpage:


We are quick to attach everything to the Dollar, like everything is imported!
Even the Garri seller is quick to adduce "Dollar don rise" to greedy doubling of the price of Garri, ditto Tomato seller, Palm oil seller, Cooked Beans seller is not left out.

...

FastShipping:



This is property section and not let us discuss politics and economy here. But let me make few points and move on.

Buhari's economic policies have stagnated and grounded everything to a halt. He did not cause the recession but he made it worse. He came in and for six months he didn't appoint finance minister who suppose to oversee and manage the economy. When you are in a recession, you don't mop up money from circulation. When you are in recession, you don't stifle the cash flow or make it hard for people to access loan. It is glaring for sound minds to know that all we need at this time is economic stimulus package in form of capital projects and small business loan. What was Buhari doing between March 28 - May 29, 2015? Buhari should have gone into borrowing immediately he assumed office.
Massive loan from World bank and any other source available within few months into his administration. Deficit are not as bad as many people think as long as you manage it well. Use the loan judiciously and invest the loan into building roads, bridges, schools, accessible loans for small businesses, massive housing etc. All these projects would have injected money into the system and 1-2 million jobs would have been created in the process. The stubborn man of a president is hell bent on doing it his own way and listen to no one. I read somewhere that funding of 2016 budget was not even up to 24% as at September, 2016. Ministry of Work and Power is not functioning as it should because Buhari wouldn't trust his minister to award contracts as his minister would have liked. Buhari's policy has been one capital project per region at a time. I don't know how that is going to help when we have development deficit. You cannot just think everybody is here to steal. You have to fully trust your ministers with money. All you have to do is oversight and monitoring. Buhari trusts no one. Everybody is here to steal except him.

Do you realize that we still import most of what we need in this country? Even some of the products that are being produced in Nigeria depend on raw materials from overseas. These companies have to source for foreign exchange to procure raw materials. I am not saying Buhari should be blamed for all of our woes but this man seems to only believe in his own idea. His ideas are paramount and we are in worse situation than we were on May 28, 2015.

Buhari's policies are not working. We do not need to bury our heads in the sand and say let's stay the course. I was one of his biggest supporters on nairaland but let's call a spade a spade. Jonathan didn't do well but Buhari hasn't been better.

It appears you are mixing "Mr Buhari, a person who is the President of Nigeria"....... and 'The Federal govt of Nigeria" with Buhari as President.

Both are not the same thing!

The economic stagnation was actually caused by our over dependence on a mono-product economy which runs on Crude Oil.
Unfortunately, the price of that mono-product CRASHED to less than 20% of its value (from $110 to $23 per barrel) when Mr. Buhari assumed leadership.
Loosing 80% of our forex income (fall in Oil price) means we dont have money to finance/pay-for our "over-dependence" on IMPORTS.
There is NOTHING he could have done, no magic he could have wand, to prevent the slide into poverty.

But being the lazy bums we are, we still want to continue like "all is well" and everyone who is a trader/importer was shouting Buhari is not releasing Dollar, like Buhari kept the Dollar under his bed!
In actual fact, there was No Dollar to use in buying our frivolous imports!

Yes, the best way to get out of recession is to "spend your way out" but anyone can say that because it is actually Economics 101.
What seasoned Economist would tell you is that "You cant spend money you dont have"!
So, if you are broke, (No more money from receipts and income due to the crash in our source of income), where is the money you will use to "spend yourself out of recession", .........come from? You see, its easier said than done!

- You said he should have "gone borrowing immediately he assumed office!
This is very naive, to put it mildly!
No Sir, to borrow, Mr. President needs the APPROVAL of the National Assembly to approve such international borrowing.
On those dates you quoted, the NASS has not been constituted or at the very least will not have granted him any approval at such early stage of his administration.

Again, you just dont raise-up your hand and say "I need loan" and countries/bodies start bringing the money!
They will look at your economic road-map, so as to be sure they are either getting their money back or that you are spending the money on projects they can also gain from (Look at China: President made a trip to China, signed bilateral agreements and highlighted projects like rail and Roads that he wants to partner with China to do in Nigeria...... then he FINALLY asked China for a $30billion loan!
Which the NASS REFUSED to approve!
That is how it works..... in the real world!

- You said Buhari is one capital project per region and Budget was under-funded!
Do you even think these projects are free-funded.... or needs to be paid for?
Where is the money to pay for "many-project in many-regions simultaneously going to come from?
Do you not understand that a country is ran on MONEY (from exports, which Nigeria rarely does; from Receipts, which is down by 80%) and the money is just not there?
How do you fully fund your Budget when the money to do so is NOT AVAILABLE?
Does he go borrow to fund the budget also? Do you know the implication of this at all? Do oyu know how these loans affect the value of the National currency (we are not talking about an America that "manufactures its own currency and the rest of the world "buy" it nor are we talking of a China that "manufactures everything very cheaply" and sells it to everyone, including America!
We are talking about a Nigeria that manufactures nothing, exports nothing and imports everything.... at a time when its source of money has gone comatose!

- Let me also add that "when you "borrow externally", you are devaluing your currency".
Naira was already "self-devaluing" due to our dwindling Foreign Reserve (as a result of an over 80% decline in forex receipts, due to the fall in oil price!)

On the issue of trust:
This is one of the reason it took him time to find a finance Minister.
When you are faced with a Govt where people are callous enough to loot Money meant to prosecute a war, a war where your soldiers are being killed daily, a war where you are losing territory to terrorists..... yet those who are in-charge at the highest level of Govt think the best thing to do is to "share the money ala Dasuki-gate........... and you think there is no serious "trust deficit"?

I dont have to tell you that CORRUPTION is ingrained in our DNA and it is our greatest problem.
I dont have to tell you that if you put 10 Nigerians in a room, their greatest problem will be "How to trust each other".
How can "fantastically corrupt" people TRUST themselves? (We have Cameron for that statement because it is insulting but let us agree that there is a lot of truth in it)
Even YOU, have had very bitter experience about TRUST, on a small level, from the various people you entrust your project to! (I wont recant the tales here)
What l am saying is that Buhari was faced with a big problem of who he can trust, as to do the interest of the people, rather than serve their own pocket. Infact, if he was not "too trusting", he wont face some of the problems he is facing right now.

He trusted the CBN Governor to "mind the monetary policies" (I dont expect a retired Army General to be talking economics but l expect a trusted assistant like the CBN Governor to do it well.) ,,, but the guy was a somersault of a Governor.
Meanwhile, there is a law that prevents the Executive for sacking the CBN Governor willy-nilly. That was why Sanusi could get away with many things under Jonathan.
Same thing with the NNPC Director cum Oil Minister. These two personalities where the ones who produced most of the uncertainties in the system but we are quick to blame Buhari, either out of ignorance or outright mischief!

Let me add that l am just sorry that we Nigerians did not have to "experience the alternative" if for example Jonathan had continued in government or another looter was elected and it was "business as usual".
Most of us here have built a house in the last one-two years or still building, despite the very high inflation rate but l wish we were faced with the alternative like in Zimbabwe (when their currency was completely worthless and no one would accept it) or with a Somalia situation when the country became a failed state and it was "all man for himself".
I said "sorry" because we seems not to appreciate that God had just saved us from a major disaster which some of us might not have lived through! You can only build form Diaspora or locally, when there is a country.

*Buhari has and is gradually revitalising Agriculture through massive incentives (Never seen so many young people diverting to farming as of today!), loans in form of cash, farm inputs, e.t.c.
The results are beginning to show in areas like Rice Production (falling price from an all-time high that was caused by lack of Dollars to import as used to be the case). Tomato-scare has abated. The high price of food stuff we have as of today (when price should be gradually coming down) is as a result of sheer EXPLOITATION by hiking price (foodstuff sellers say they have to hike their own price too so as to compete with and justify the way other sellers hike their price! That is "the Nigerian" for you, irrespective of the "real cost" of the product/goods.).
With time, we will all see the benefits of this Govts Agric policies. Some Crops take a year just to mature!

*The Govt has been able to inject sanity and a bit of transparency into Governance.
You have Ministries now returning "unspent Budget", back into the National coffers (via TSA Account) whereas before now, You must finish any Unspent allocation/budget, by looting it!

*The Govt has shown 'balls' in tackling terrorism but for a big country like Nigeria, it is challenging.
Also, Terrorism does not disappear overnight, it is an ideology and can only be beaten down to a manageable level.
Even in America today, we still have pockets of terrorism but it is manageable.

*Gradually, the Govt is rehabilitating Roads that have been left undone for years (Lagos-Ibadan is one), at a pace we have not seen for decades.
*Our Armed Forces are begining to face what they are paid for: Protect the Nation's interest and we have seen their level of professionalism on the rise.
No more "Politicians-Armed Forces Officers". Discipline is being instigated in the Forces, equipment are being bought and deployed at a rate that has been alien in recent times.
* The Govt has systematically "dabbled-into and tackled corruption" in places that are "very dirty but hitherto, considered untouchable", like the Judiciary.
Now, we all have a feeling that if a Judge misbehaves or gets corrupted, (and they do so most times, in a very corrupt manner that nauseates the mind!), a common man can seek redress and the Judge can be punished. The 'idea' alone cannot be quantified in terms of what it means for the masses who dont have millions to swing a case the way they want

Let me stop here on what the Govt has done, as l am not their mouth-piece.

Finally, to say we are in a worse situation than we are in 2015, is reminiscent of thinking of a "single planar thought process" .... in terms of prices alone.

In the "Hierarchy of Pyramids", these sort of 'need' are said to be premordial and at the 'base-level' of human wants.

There are times when you dont have "cash" in your pocket but you are actually feeling very rich because of "what you have done with money".
Vice-versa, there are times when you can stuff a million in your Wallet and yet you know you are just living above the border-line!

Look at things from with a "long term perspective" - beyond how much things cost today - but at how much things will cost tomorrow (based on what the Govt is doing TODAY, that will have a bearing on TOMORROW" and How much it would have cost, if this Govt was not in-place.
Most of you have no clue at how bad our situation was, in 2015 and How miserable it would have gotten if we Nigerians have not made the "bold choice".
Most people who voted for Buhari dont really like him as a person but what they love about him is "What the country needs, at this trying times".

Infact, let us just thank God that we never experienced "How it would have been", if we did not change that Govt and vote a man that though "old-schooled, fragile and not overly exuberant", is a symbol of integrity for others to follow, commands the respect of the Armed Forces, have people that still believe in his long term vision .....and that he means and acts-well for this country.

How can we still compare Buhari's Govt to that of Jonathan, who presided over a Govt that earned the highest revenue on record, for five years, met the highest Foreign reserve on the kitty when taking over, yet left the highest debt profile, lowest foreign reserve and decayed infrastructures and a time-bomb of an economy, with the only earner for the country nose-diving and being sabotaged at every opportunity by militants ........... .


It is okay to just lament like the common (ignorant) man on the street because honestly prices are very high, but that is where it should end.


And that is why l said "except these comments were made hyperbolically"




Lastpage!

Some Editions done

Demainman1:


Complete nonsense. Can you predict the value of naira to dollar next week? Why won't people jack up their goods price in a volatile economy like ours?

What is buhari doing in London when he should be home trying to fix Nigeria?

You should be ashamed of yourself for attempting to defend the indefensible.

Talking about akamu and akara sellers, why won't they jack up their own prices if their landlord increase their house rent? What about the transportation cost? So that no dey affect akamu seller ehn.

Anyway, no more politics for property section. I'm out.

First, you need to show some decorum in your response.... and get control over your emotions, since this is not the Politics section.
When you do, l may dignify you with a response.

Thank you.



Lastpage!

mank1234:
Very nice epistle. However, the premise that because garri has no foreign input therefore the price should remain unchanged is fallacious.

No, dont get me wrong!

What l said was that the "Rate of Change" in price of such product, should not be DIRECTLY PROPORTIONAL" to the fluctuation in the Dollar exchange rate.

For example, we have seen situations where if the Dollar rises by #10 in the open market, from say 400 to 410, the price of Garri is jerked-up by an equivalent rate of #10.
Since Garri is not a direct product of importation, (there are mostly local factors associated with its production/manufacture), the hiking of the price using the Dollar as an excuse or reason, is just exploitation of a "free market" without any price controls, borne out of greed and our general penchant to "cash-in" on at any slight opportunity.

The above is not the same with your sentence l quoted above.
Emphasis being on the "rate" of price hike.



Lastpage!

Editted: I agree with some of your latter points that "There are things that could still be done, that have not been done - resettling IDPs, local content of refining and manufacturing, etc).

lastpage:


It appears you are mixing "Mr Buhari, a person who is the President of Nigeria"....... and 'The Federal govt of Nigeria" with Buhari as President.

Both are not the same thing!

The economic stagnation was actually caused by our over dependence on a mono-product economy which runs on Crude Oil.
Unfortunately, the price of that mono-product CRASHED to less than 20% of its value (from $110 to $23 per barrel) when Mr. Buhari assumed leadership.
Loosing 80% of our forex income (fall in Oil price) means we dont have money to finance/pay-for our "over-dependence" on IMPORTS.
There is NOTHING he could have done, no magic he could have wand, to prevent the slide into poverty.

But being the lazy bums we are, we still want to continue like "all is well" and everyone who is a trader/importer was shouting Buhari is not releasing Dollar, like Buhari kept the Dollar under his bed!
In actual fact, there was No Dollar to use in buying our frivolous imports!

Yes, the best way to get out of recession is to "spend your way out" but anyone can say that because it is actually Economics 101.
What seasoned Economist would tell you is that "You cant spend money you dont have"!
So, if you are broke, (No more money from receipts and income due to the crash in our source of income), where is the money you will use to "spend yourself out of recession", .........come from? You see, its easier said than done!

- You said he should have "gone borrowing immediately he assumed office!
This is very naive, to put it mildly!
No Sir, to borrow, Mr. President needs the APPROVAL of the National Assembly to approve such international borrowing.
On those dates you quoted, the NASS has not been constituted or at the very least will not have granted him any approval at such early stage of his administration.

Again, you just dont raise-up your hand and say "I need loan" and countries/bodies start bringing the money!
They will look at your economic road-map, so as to be sure they are either getting their money back or that you are spending the money on projects they can also gain from (Look at China: President made a trip to China, signed bilateral agreements and highlighted projects like rail and Roads that he wants to partner with China to do in Nigeria...... then he FINALLY asked China for a $30billion loan!
Which the NASS REFUSED to approve!
That is how it works..... in the real world!

- You said Buhari is one capital project per region and Budget was under-funded!
Do you even think these projects are free-funded.... or needs to be paid for?
Where is the money to pay for "many-project in many-regions simultaneously going to come from?
Do you not understand that a country is ran on MONEY (from exports, which Nigeria rarely does; from Receipts, which is down by 80%) and the money is just not there?
How do you fully fund your Budget when the money to do so is NOT AVAILABLE?
Does he go borrow to fund the budget also? Do you know the implication of this at all? Do oyu know how these loans affect the value of the National currency (we are not talking about an America that "manufactures its own currency and the rest of the world "buy" it nor are we talking of a China that "manufactures everything very cheaply" and sells it to everyone, including America!
We are talking about a Nigeria that manufactures nothing, exports nothing and imports everything.... at a time when its source of money has gone comatose!

- Let me also add that "when you "borrow externally", you are devaluing your currency".
Naira was already "self-devaluing" due to our dwindling Foreign Reserve (as a result of an over 80% decline in forex receipts, due to the fall in oil price!)

On the issue of trust:
This is one of the reason it took him time to find a finance Minister.
When you are faced with a Govt where people are callous enough to loot Money meant to prosecute a war, a war where your soldiers are being killed daily, a war where you are losing territory to terrorists..... yet those who are in-charge at the highest level of Govt think the best thing to do is to "share the money ala Dasuki-gate........... and you think there is no serious "trust deficit"?

I dont have to tell you that CORRUPTION is ingrained in our DNA and it is our greatest problem.
I dont have to tell you that if you put 10 Nigerians in a room, their greatest problem will be "How to trust each other".
How can "fantastically corrupt" people TRUST themselves? (We have Cameron for that statement because it is insulting but let us agree that there is a lot of truth in it)
Even YOU, have had very bitter experience about TRUST, on a small level, from the various people you entrust your project to! (I wont recant the tales here)
What l am saying is that Buhari was faced with a big problem of who he can trust, as to do the interest of the people, rather than serve their own pocket. Infact, if he was not "too trusting", he wont face some of the problems he is facing right now.

He trusted the CBN Governor to "mind the monetary policies" (I dont expect a retired Army General to be talking economics but l expect a trusted assistant like the CBN Governor to do it well.) ,,, but the guy was a somersault of a Governor.
Meanwhile, there is a law that prevents the Executive for sacking the CBN Governor willy-nilly. That was why Sanusi could get away with many things under Jonathan.
Same thing with the NNPC Director cum Oil Minister. These two personalities where the ones who produced most of the uncertainties in the system but we are quick to blame Buhari, either out of ignorance or outright mischief!

Let me add that l am just sorry that we Nigerians did not have to "experience the alternative" if for example Jonathan had continued in government or another looter was elected and it was "business as usual".
Most of us here have built a house in the last one-two years or still building, despite the very high inflation rate but l wish we were faced with the alternative like in Zimbabwe (when their currency was completely worthless and no one would accept it) or with a Somalia situation when the country became a failed state and it was "all man for himself".
I said "sorry" because we seems not to appreciate that God had just saved us from a major disaster which some of us might not have lived through! You can only build form Diaspora or locally, when there is a country.

*Buhari has and is gradually revitalising Agriculture through massive incentives (Never seen so many young people diverting to farming as of today!), loans in form of cash, farm inputs, e.t.c.
The results are beginning to show in areas like Rice Production (falling price from an all-time high that was caused by lack of Dollars to import as used to be the case). Tomato-scare has abated. The high price of food stuff we have as of today (when price should be gradually coming down) is as a result of sheer EXPLOITATION by hiking price (foodstuff sellers say they have to hike their own price too so as to compete with and justify the way other sellers hike their price! That is "the Nigerian" for you, irrespective of the "real cost" of the product/goods.).
With time, we will all see the benefits of this Govts Agric policies. Some Crops take a year just to mature!

*The Govt has been able to inject sanity and a bit of transparency into Governance.
You have Ministries now returning "unspent Budget", back into the National coffers (via TSA Account) whereas before now, You must finish any Unspent allocation/budget, by looting it!

*The Govt has shown 'balls' in tackling terrorism but for a big country like Nigeria, it is challenging.
Also, Terrorism does not disappear overnight, it is an ideology and can only be beaten down to a manageable level.
Even in America today, we still have pockets of terrorism but it is manageable.

*Gradually, the Govt is rehabilitating Roads that have been left undone for years (Lagos-Ibadan is one), at a pace we have not seen for decades.
*Our Armed Forces are begining to face what they are paid for: Protect the Nation's interest and we have seen their level of professionalism on the rise.
No more "Politicians-Armed Forces Officers". Discipline is being instigated in the Forces, equipment are being bought and deployed at a rate that has been alien in recent times.
* The Govt has systematically "dabbled-into and tackled corruption" in places that are "very dirty but hitherto, considered untouchable", like the Judiciary.
Now, we all have a feeling that if a Judge misbehaves or gets corrupted, (and they do so most times, in a very corrupt manner that nauseates the mind!), a common man can seek redress and the Judge can be punished. The 'idea' alone cannot be quantified in terms of what it means for the masses who dont have millions to swing a case the way they want

Let me stop here on what the Govt has done, as l am not their mouth-piece.

Finally, to say we are in a worse situation than we are in 2015, is reminiscent of thinking of a "single planar thought process" .... in terms of prices alone.
This, respectfully, is how the "common man" thinks because all he is concerned about is "how much bread and butter cost".
In the "Hierarchy of Pyramids", these sort of 'need' are said to be premordial and at the 'base-level' of human wants.

There are times when you dont have "cash" in your pocket but you are actually feeling very rich because of "what you have done with money".
Vice-versa, there are times when you can stuff a million in your Wallet and yet you know you are just living above the border-line!

Look at things from with a "foresighted perspective" - beyond how much things cost today - but at how much things will cost tomorrow (based on what the Govt is doing TODAY, that will have a bearing on TOMORROW" and How much it would have cost, if this Govt was not in-place.
Most of you have no clue at how bad our situation was, in 2015 and How miserable it would have gotten if we Nigerians have not made the "bold choice".
Most people who voted for Buhari dont really like him as a person but what they love about him is "What the country needs, at this trying times".

Infact, let us just thank God that we never experienced "How it would have been", if we did not change that Govt and vote a man that though "old-schooled, fragile and not overly exuberant", is a symbol of integrity for others to follow, commands the respect of the Armed Forces, have people that still believe in his long term vision .....and that he means and acts-well for this country.

Anyone who can still compare Buhari's Govt to that of Jonathan, who presided over a Govt that earned the highest revenue on record, for five years, met the highest Foreign reserve on the kitty when taking over, yet left the highest debt profile, lowest foreign reserve and decayed infrastructures and a time-bomb of an economy, with the only earner for the country nose-diving and being sabotaged at every opportunity by militants ........... should not be discussing this sort of issues in public.


It is okay to just lament like the common (ignorant) man on the street because honestly prices are very high, but that is where it should end.


And that is why l said "except these comments were made hyperbolically"




Lastpage!

Let me respond to the first 2-3 paragraphs of yours by asking you a question: did you miss the part where I said Buhari should have borrowed massively from inception of his presidency to cushion the effect of the recession? Borrowing isn't as bad as some of you think as long as we know what are are doing. You can now go back and read my points again.

I won't discuss politics or economy again on this thread.

FastShipping:



Let me respond to the first 2-3 paragraphs of yours by asking you a question: did you miss the part where I said Buhari should have borrowed massively from inception of his presidency to cushion the effect of the recession? Borrowing isn't as bad as some of you think as long as we know what are are doing. You can now go back and read my points again.

I won't discuss politics or economy again on this thread.

I read that part but my response was that "he cant do that because the borrowing needs approval by a yet to be constituted National Assembly and even at that, he is at the mercy of a very corrupt NASS who sees everything as a bargaining chip (not as what is good for Nigeria).
You saw what happened with the $30billion Chinese loan, at the NASS?
That is Nigeria for you.



Lastpage!

I edited some parts to conform with the way we are discussing issues

lastpage:




I read that part but my response was that "he cant do that because the borrowing needs approval by a yet to be constituted National Assembly and even at that, he is at the mercy of a very corrupt NASS who sees everything as a bargaining chip (not as what is good for Nigeria).
You saw what happened with the $30billion Chinese loan, at the NASS?
That is Nigeria for you.



Lastpage!

I edited some parts to conform with the way we are discussing issues

Well, there was opportunity to borrow form World Bank when he first came and he totally rejected it forming macho man. He did have good will when he first came in and this was around June 2015. The rest is now history.

earthrealm:
so big dilenmna,
hv a plot of land i hv been planning to develop in ph, but the rains last yr made me decide to wait till this ye/dry season.
now this wahala has started..i mean increase in price. really confused on what to do

delay the project and hope things will come down, and commence..believeing that things will get worse.
deep inside me...i feel it will get worse, as oil being our only source of forex
comments/advice needed pls

Start the project but sit with your architect to review your plan.

Do you really need as big as a house as you initially drew?

3strikes:

Investing in Real estate properties or Treasury bills @ 18%............................my people which way to go?

TBills for me, no interest in rentals.

Kasimeme:
If this helps anyone... There is a guy, a man actually, who I was taken to a while back. He is a funiture maker who returned to Nigeria from Europe to open up an outlet..I was taken there when I was struggling with the cost of importing a snooker table. He had all the machinery, all the expertise.I was suprised he was in the city and made no noise, but I realised everybody knew where he was.No fancy shop, just serious, heavy machines and sweating bodies.He made me a grade A snooker table. He makes settees, sofas, tv benches and alled stuff. I remember he told me, some people brought leather and fabric from abroad and he used it for sofas for them. He had some made locally too. I have not seen anyone who made stuff close to him at home. However, and as to be expected, the waiting time was long.I waited 3 months to get the snooker table due to the queue. He has his shop in a place called orogun in Ibadan. Not been there in a year now, but I will be there next month and will share his details for who require.However,without needing to wait for me; he is traceable easily from orogun bus stop. Not far from the place.He is quite popular.

Thanks

What part of town is Orogun?

I'm bored and an adventure to seek out a fellow woodworker sounds like fun

EgunMogaji:


What part of town is Orogun?

I'm bored and an adventure to seek out a fellow woodworker sounds like fun

And this bros will be forming one IB bred guy of the 80s. ....so bros no Sabi Orogun. ...
Origin is after U.I on your way to Moniya....it's a sstright road from U.Isha

Kasimeme:
If this helps anyone... There is a guy, a man actually, who I was taken to a while back. He is a funiture maker who returned to Nigeria from Europe to open up an outlet..I was taken there when I was struggling with the cost of importing a snooker table. He had all the machinery, all the expertise.I was suprised he was in the city and made no noise, but I realised everybody knew where he was.No fancy shop, just serious, heavy machines and sweating bodies.He made me a grade A snooker table. He makes settees, sofas, tv benches and alled stuff. I remember he told me, some people brought leather and fabric from abroad and he used it for sofas for them. He had some made locally too. I have not seen anyone who made stuff close to him at home. However, and as to be expected, the waiting time was long.I waited 3 months to get the snooker table due to the queue. He has his shop in a place called orogun in Ibadan. Not been there in a year now, but I will be there next month and will share his details for who require.However,without needing to wait for me; he is traceable easily from orogun bus stop. Not far from the place.He is quite popular.

Thanks

Hi @kasimeme, may I please have the guy contact. Thank you

On the contrary, I think we can discuss economy on this thread when it concerns price of building materials. Maybe we should not mention the name of the president or apportion blames but without discussing economic policies and effects, we can never plan effectively or have a good strategy to survive with our plans to build good quality homes at reasonable prices.

The only thing we need to check is our tone of language and our emotions.

Having said that, I think this government has totally lost control of the economy. Its not in their hands anymore and that is why everything has gone haywire, I will not blame the Nigerian seller for "greed or wickedness" as suggested by some of us here. The sellers are just pawns in the game, and if they fail to raise their costs substantially, they will be wiped off sooner than they think. And the problem will even get worse, as more sellers and labourers get unemployed, armed robbery, pros.titution and criminal activities will rise to an all time high

The dealers in building materials don't manufacture them, they buy from manufacturers,
The manufacturers don't make the raw materials, they import them,
The importers don't print dollars, they buy them,
And when the dollars are scarce, demand and supply law will raise the cost, and this will set off a chain reaction which will ensure that the rise will cascade down to the last man on the ground, me and you, the consumers. Then, finally, the tenants will have to cough out more naira to rent these houses as nobody is a Father Christmas.

I buy building materials in many markets in many states daily, and I see the fear and tension in the faces of these sellers first hand, I see a lot of frustration, regret and trepidation they face. My cement dealer went home by 1 pm yesterday, he has not got delivered with 5 trucks of cement he paid for since 2 weeks ago, and he is not sure of what is happening after so many phone calls. He told me he is afraid of another price hike from the cement cabal.

The government not only hasn't done enough, my fear is that they dont even have the capacity to solve the problem, I feel the economy is now on auto pilot, while the operators are watching and hoping for the best. Its a pity.

To illustrate further, we just completed this house and handed it over this week, in the midst of this price craze, the landlord spent over his budget to complete this building, now, tenants are coming, the landlord will want to recoup some of his recent losses in the rise of building materials, I remember he gave me some additional money to supplement the earlier budgeted amount for some items we bought.

Do you know that the pepper seller can live here, as well as the ogi and akamu seller, even the daughter of the palm wine tapper can live here and go to a nearby university, and suddenly, the palm wine tapper and the pepper seller will have to pay higher to rent this house, which will annoy him no doubt as it just wiped off his yearly savings, to survive, the only option he has is to arbitrary raise his own prices. Or he will have to sleep outside! No, he didnt buy dollars to import his palm wine or pepper, but he must raise his prices or, emmmm...... build a hut with palm leaves to sleep in

Well said @Spyder, making your point without writing a whole A3 paper garnished with colour crayon like people like Lastpage do.

Thank you jaré.

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Kindly click on the link to find out the true value of your business https://www.compexafrica.com/valuation-tool

@ spyder880
The pipes are not conduit but laid outside
Is this your preference?
Thanks

spyder880:
To illustrate further, we just completed this house and handed it over this week, in the midst of this price craze, the landlord spent over his budget to complete this building, now, tenants are coming, the landlord will want to recoup some of his recent losses in the rise of building materials, I remember he gave me some additional money to supplement the earlier budgeted amount for some items we bought.

Do you know that the pepper seller can live here, as well as the ogi and akamu seller, even the daughter of the palm wine tapper can live here and go to a nearby university, and suddenly, the palm wine tapper and the pepper seller will have to pay higher to rent this house, which will annoy him no doubt as it just wiped off his yearly savings, to survive, the only option he has is to arbitrary raise his own prices. Or he will have to sleep outside! No, he didnt buy dollars to import his palm wine or pepper, but he must raise his prices or, emmmm...... build a hut with palm leaves to sleep in

How much did it cost to build this house to this level?

kolnel:
@ spyder880
The pipes are not conduit but laid outside
Is this your preference?
Thanks

Yes, since this is a commercial property, you cannot control the behaviour of tenants here, so to be on the safe side, I usually do surface piping so that if it becomes blocked due to tenants throwing pads, towels and clothes into the toilets, we can easily service the drains by removing the pipes. This is easier, conduit piping would be very tough to fix if it's blocked.

Badgers14:



How much did it cost to build this house to this level?

Between N35-36 million naira. Remember, the price could be higher now as prices of everything soar.

lastpage:


It appears you are mixing "Mr Buhari, a person who is the President of Nigeria"....... and 'The Federal govt of Nigeria" with Buhari as President.

Both are not the same thing!

The economic stagnation was actually caused by our over dependence on a mono-product economy which runs on Crude Oil.
Unfortunately, the price of that mono-product CRASHED to less than 20% of its value (from $110 to $23 per barrel) when Mr. Buhari assumed leadership.
Loosing 80% of our forex income (fall in Oil price) means we dont have money to finance/pay-for our "over-dependence" on IMPORTS.
There is NOTHING he could have done, no magic he could have wand, to prevent the slide into poverty.

But being the lazy bums we are, we still want to continue like "all is well" and everyone who is a trader/importer was shouting Buhari is not releasing Dollar, like Buhari kept the Dollar under his bed!
In actual fact, there was No Dollar to use in buying our frivolous imports!

Yes, the best way to get out of recession is to "spend your way out" but anyone can say that because it is actually Economics 101.
What seasoned Economist would tell you is that "You cant spend money you dont have"!
So, if you are broke, (No more money from receipts and income due to the crash in our source of income), where is the money you will use to "spend yourself out of recession", .........come from? You see, its easier said than done!

- You said he should have "gone borrowing immediately he assumed office!
This is very naive, to put it mildly!
No Sir, to borrow, Mr. President needs the APPROVAL of the National Assembly to approve such international borrowing.
On those dates you quoted, the NASS has not been constituted or at the very least will not have granted him any approval at such early stage of his administration.

Again, you just dont raise-up your hand and say "I need loan" and countries/bodies start bringing the money!
They will look at your economic road-map, so as to be sure they are either getting their money back or that you are spending the money on projects they can also gain from (Look at China: President made a trip to China, signed bilateral agreements and highlighted projects like rail and Roads that he wants to partner with China to do in Nigeria...... then he FINALLY asked China for a $30billion loan!
Which the NASS REFUSED to approve!
That is how it works..... in the real world!

- You said Buhari is one capital project per region and Budget was under-funded!
Do you even think these projects are free-funded.... or needs to be paid for?
Where is the money to pay for "many-project in many-regions simultaneously going to come from?
Do you not understand that a country is ran on MONEY (from exports, which Nigeria rarely does; from Receipts, which is down by 80%) and the money is just not there?
How do you fully fund your Budget when the money to do so is NOT AVAILABLE?
Does he go borrow to fund the budget also? Do you know the implication of this at all? Do oyu know how these loans affect the value of the National currency (we are not talking about an America that "manufactures its own currency and the rest of the world "buy" it nor are we talking of a China that "manufactures everything very cheaply" and sells it to everyone, including America!
We are talking about a Nigeria that manufactures nothing, exports nothing and imports everything.... at a time when its source of money has gone comatose!

- Let me also add that "when you "borrow externally", you are devaluing your currency".
Naira was already "self-devaluing" due to our dwindling Foreign Reserve (as a result of an over 80% decline in forex receipts, due to the fall in oil price!)

On the issue of trust:
This is one of the reason it took him time to find a finance Minister.
When you are faced with a Govt where people are callous enough to loot Money meant to prosecute a war, a war where your soldiers are being killed daily, a war where you are losing territory to terrorists..... yet those who are in-charge at the highest level of Govt think the best thing to do is to "share the money ala Dasuki-gate........... and you think there is no serious "trust deficit"?

I dont have to tell you that CORRUPTION is ingrained in our DNA and it is our greatest problem.
I dont have to tell you that if you put 10 Nigerians in a room, their greatest problem will be "How to trust each other".
How can "fantastically corrupt" people TRUST themselves? (We have Cameron for that statement because it is insulting but let us agree that there is a lot of truth in it)
Even YOU, have had very bitter experience about TRUST, on a small level, from the various people you entrust your project to! (I wont recant the tales here)
What l am saying is that Buhari was faced with a big problem of who he can trust, as to do the interest of the people, rather than serve their own pocket. Infact, if he was not "too trusting", he wont face some of the problems he is facing right now.

He trusted the CBN Governor to "mind the monetary policies" (I dont expect a retired Army General to be talking economics but l expect a trusted assistant like the CBN Governor to do it well.) ,,, but the guy was a somersault of a Governor.
Meanwhile, there is a law that prevents the Executive for sacking the CBN Governor willy-nilly. That was why Sanusi could get away with many things under Jonathan.
Same thing with the NNPC Director cum Oil Minister. These two personalities where the ones who produced most of the uncertainties in the system but we are quick to blame Buhari, either out of ignorance or outright mischief!

Let me add that l am just sorry that we Nigerians did not have to "experience the alternative" if for example Jonathan had continued in government or another looter was elected and it was "business as usual".
Most of us here have built a house in the last one-two years or still building, despite the very high inflation rate but l wish we were faced with the alternative like in Zimbabwe (when their currency was completely worthless and no one would accept it) or with a Somalia situation when the country became a failed state and it was "all man for himself".
I said "sorry" because we seems not to appreciate that God had just saved us from a major disaster which some of us might not have lived through! You can only build form Diaspora or locally, when there is a country.

*Buhari has and is gradually revitalising Agriculture through massive incentives (Never seen so many young people diverting to farming as of today!), loans in form of cash, farm inputs, e.t.c.
The results are beginning to show in areas like Rice Production (falling price from an all-time high that was caused by lack of Dollars to import as used to be the case). Tomato-scare has abated. The high price of food stuff we have as of today (when price should be gradually coming down) is as a result of sheer EXPLOITATION by hiking price (foodstuff sellers say they have to hike their own price too so as to compete with and justify the way other sellers hike their price! That is "the Nigerian" for you, irrespective of the "real cost" of the product/goods.).
With time, we will all see the benefits of this Govts Agric policies. Some Crops take a year just to mature!

*The Govt has been able to inject sanity and a bit of transparency into Governance.
You have Ministries now returning "unspent Budget", back into the National coffers (via TSA Account) whereas before now, You must finish any Unspent allocation/budget, by looting it!

*The Govt has shown 'balls' in tackling terrorism but for a big country like Nigeria, it is challenging.
Also, Terrorism does not disappear overnight, it is an ideology and can only be beaten down to a manageable level.
Even in America today, we still have pockets of terrorism but it is manageable.

*Gradually, the Govt is rehabilitating Roads that have been left undone for years (Lagos-Ibadan is one), at a pace we have not seen for decades.
*Our Armed Forces are begining to face what they are paid for: Protect the Nation's interest and we have seen their level of professionalism on the rise.
No more "Politicians-Armed Forces Officers". Discipline is being instigated in the Forces, equipment are being bought and deployed at a rate that has been alien in recent times.
* The Govt has systematically "dabbled-into and tackled corruption" in places that are "very dirty but hitherto, considered untouchable", like the Judiciary.
Now, we all have a feeling that if a Judge misbehaves or gets corrupted, (and they do so most times, in a very corrupt manner that nauseates the mind!), a common man can seek redress and the Judge can be punished. The 'idea' alone cannot be quantified in terms of what it means for the masses who dont have millions to swing a case the way they want

Let me stop here on what the Govt has done, as l am not their mouth-piece.

Finally, to say we are in a worse situation than we are in 2015, is reminiscent of thinking of a "single planar thought process" .... in terms of prices alone.

In the "Hierarchy of Pyramids", these sort of 'need' are said to be premordial and at the 'base-level' of human wants.

There are times when you dont have "cash" in your pocket but you are actually feeling very rich because of "what you have done with money".
Vice-versa, there are times when you can stuff a million in your Wallet and yet you know you are just living above the border-line!

Look at things from with a "long term perspective" - beyond how much things cost today - but at how much things will cost tomorrow (based on what the Govt is doing TODAY, that will have a bearing on TOMORROW" and How much it would have cost, if this Govt was not in-place.
Most of you have no clue at how bad our situation was, in 2015 and How miserable it would have gotten if we Nigerians have not made the "bold choice".
Most people who voted for Buhari dont really like him as a person but what they love about him is "What the country needs, at this trying times".

Infact, let us just thank God that we never experienced "How it would have been", if we did not change that Govt and vote a man that though "old-schooled, fragile and not overly exuberant", is a symbol of integrity for others to follow, commands the respect of the Armed Forces, have people that still believe in his long term vision .....and that he means and acts-well for this country.

How can we still compare Buhari's Govt to that of Jonathan, who presided over a Govt that earned the highest revenue on record, for five years, met the highest Foreign reserve on the kitty when taking over, yet left the highest debt profile, lowest foreign reserve and decayed infrastructures and a time-bomb of an economy, with the only earner for the country nose-diving and being sabotaged at every opportunity by militants ........... .


It is okay to just lament like the common (ignorant) man on the street because honestly prices are very high, but that is where it should end.


And that is why l said "except these comments were made hyperbolically"




Lastpage!

Some Editions done

.Well... a good degree of intelligence.

lol

I just scroll pass. yawns yawns !

Demainman1:
Well said @Spyder, making your point without writing a whole A3 paper garnished with colour crayon like people like Lastpage do.

Thank you jaré.

You mean surface everywhere inside the house ?
Here, if drains gets blocked by towels etc, there are 2 popular options. Most drain companies or experienced plumbers have this langalanga thing like a metal rope, they put it down the drain and it will push whatever is blocking into the main drain or sewer away from the pipes. Most sophisticated ones will have a camera at the end of it, so they can see what they are dealing with.

Secondly and one that I usually do, I just put this chemical we call ONE SHOT down the drain, it melts everything it sees on its way, of course not the plastic pipe. In fact one shot should not be handled with naked hand.

Another one I tried last week was to use bicarbonate of soda powder and my magic vinegar, forms a reaction and clears out dirt in drains, just use hot water to wash it away. In terms of DIY, ONE SHOT is the most effective in my experience.

Spyder, do we have something similar to ONE SHOT in Nigeria ?

spyder880:


Yes, since this is a commercial property, you cannot control the behaviour of tenants here, so to be on the safe side, I usually do surface piping so that if it becomes blocked due to tenants throwing pads, towels and clothes into the toilets, we can easily service the drains by removing the pipes. This is easier, conduit piping would be very tough to fix if it's blocked.