₦airaland Forum

vaxx:
The reality is that Ghana needs Nigeria cus Ghana is seriously transforming its manufacturing sector rapidly ( 30 million people is not enough) therefore Ghana will need Nigeria to offload its market . and this will not only benefit Ghana only as Nigeria too will also be part of the success . the manufacturing sector alone contribute about 8 billion dollar to the economy last year


As i have study, Nigeria leader are known to be radical , only few of them believe in the spirit of Africa unionism which Ghanaian leaders are famous for......

i hear u.

Mkenya2019:
Honestly business people look at Nigeria - and it's very alluring - 200m people - but the leadership is corrupt & stupid ( a deadly combination), the business environment very tough, infrastructure completely broken down and those people very poor. You have better prospect if you focus on doing business with Ivory Coast for example.

You should only go to Nigeria if you're interested in oil & gas industry. Otherwise chance of coming out without your shirt is very high.

blah blah blah....so why is Nigeria still getting bigger fdi than both kenya and ghana if the bolded is true?

Nonsense. Show me a link to that LDR rate. You clearly know zero economic

What you're trying to avoid - is that Nigeria MPR Rate - benchmark rate - is around 13-14% - while Kenya is 9% and South Africa is 6.7% for example.

No BANKER can give you interest lower than BENCHMARK (MPR rate) rate - so 7% is plain impossible when you MPR is 13%.

Here is Nigeria banks interest rate about a year ago of various bank.s and sectors.

https://www.cbn.gov.ng/Out/2018/BSD/Weekly%20Deposit%20and%20Lending%20Rates%20in%20banking%20Industry%20as%20at%20June%2029

theenchanter:
LMAO i knew u would F. up at d end of the day. The bolded summarizes ur ineptitude.

LDR interest rate is diff from MPR interest rate, LDR interest rate is 3.5% while MPR is 14%.

Zenith bank interest rate is between 17% and 27% depending on the terms. But then, Zenith is one of the banks in Nigeria.. some banks like GTB and UBA charge between 7% and 20%, its all about the terms ( long term or short term ) and u're free to borrow money from any bank that suit ur want.

U don't just use Zenith bank as the main factor of Nigerian banks interest rate.

Most of Nigeria FDI is on OIL AND GAS industry.

theenchanter:
blah blah blah....so why is Nigeria still getting bigger fdi than both kenya and ghana if the bolded is true?

Mkenya2019:
Most of Nigeria FDI is on OIL AND GAS industry.

Not really many companies are investing in agriculture rather than oil and gas after Nigeria's recession and all of these P&ID or whatever cases no one is very keen on investing in oil

So you have Kelloggs, arla, steel companies, beer companies etc have started to come to Nigeria also Unilever has started setting up plants you can say agriculture in Nigeria is very bad but a Nigerian man took a N1 million and after 2 years his farm is worth N1 billion only 2 years

vaxx:
Ghana currency depreciation is structural not based on weak micro/ macro economic performance. Ghana is highly dollarised( the demand and taste for dollar is extremely high) and Ghana being a lower middle income country suggest that his dependence on aid will be limited ( This all contribute to the continual cedi depreciation) though goverment. have plan to arrest it, there is about 9.4 billion dollar on Ghana forex reserve to stabilized the currency and the cash is expected to jump into 10 billion and more dollar before November...

The cedi has been stable for the past four month.....

yes, the BOG is working on reducing the demand for dollars in the country. businesses are no longer allowed to quote prices in dollars. Don't know when the government would begin enforcing it though.

Mkenya2019:
Most of Nigeria FDI is on OIL AND GAS industry.

wrong!

Agriculture and Banking takes d lion share, Oil and gas sector is not even among d top 5.

Mkenya2019:
Nonsense. Show me a link to that LDR rate. You clearly know zero economic

What you're trying to avoid - is that Nigeria MPR Rate - benchmark rate - is around 13-14% - while Kenya is 9% and South Africa is 6.7% for example.

No BANKER can give you interest lower than BENCHMARK (MPR rate) rate - so 7% is plain impossible when you MPR is 13%.

Here is Nigeria banks interest rate about a year ago of various bank.s and sectors.

https://www.cbn.gov.ng/Out/2018/BSD/Weekly%20Deposit%20and%20Lending%20Rates%20in%20banking%20Industry%20as%20at%20June%2029

first n foremost, ur link isn't opening. Secondly, i'm not avoiding anything here, i clearly talked about d importance of MPR and i remember saying its higher in turbulent economies and used to check inflation but lower in a stable economy, its even d reason d central bank started d LDR policy.

A bank can give a 7%ter on short term loan, olodo.

theenchanter:
wrong!

Agriculture and Banking takes d lion share, Oil and gas sector is not even among d top 5.

That is an exaggeration in the top 5 not in order is banking, telecommunications, oil, gas and agriculture oil and gas are definitely involved but they do not make up our complete FDI

They make up 70% of our forex which is very quickly changing

MUMUdom:
Keep quiet. Nigeria is fvcked! End of story who told you closing borders will stop smuggling? why don’t you close your seaports and airports as well? MUMU countri naija go soon enter recession then your eyes go clear well well Fuckeduppedness

why are you in sorrow.
If closing the border has no effect why is Ghana, Benin and Niger begging for it to be 're opened.

Your brain sounds like it's few months old though.

theenchanter:
i hear u.

Then if Nigeria knows about it , let her opens its border..... not every Government will be long sighted focus like akuffo addo. some may be interested in revenge. Dangote had double its exportation to Ghana market despite goverment effort to let him establish production plant in Ghana. this is not free and fair trade.

Abohboy:
That is an exaggeration in the top 5 not in order is banking, telecommunications, oil, gas and agriculture oil and gas are definitely involved but they do not make up our complete FDI

They make up 70% of our forex which is very quickly changing

here's d top 5.
https://nairametrics.com/2018/08/23/data-on-foreign-direct-investment-and-foreign-portfolio-investment-into-nigeria/

Mkenya2019:
Honestly business people look at Kibera republic - and it's very alluring - 49m people - but the leadership is corrupt & stupid ( a deadly combination), the business environment very tough, infrastructure completely broken down and those people very poor. You have better prospect if you focus on doing business with Ivory Coast for example.

You should only go to kibera republic if you're interested in slum tourism and wish to rent out your wife to the whites, Arabs and Indians and of course sell tea. Otherwise chance of coming out without your shirt is very high.

fixed .

kkins25:
yes, the BOG is working on reducing the demand for dollars in the country. businesses are no longer allowed to quote prices in dollars. Don't know when the government would begin enforcing it though.

The circular have been passed, it is left for law enforcement agency to act upon it.

So Toyota and Mercedes should merge. Bro they yan well abeg.

Abohboy:
That is why we need the Eco currency it will help trade between Ghana and Nigeria so much if Nigeria and Ghana shared a border the amount of trade and money and industries that would grow would be so surprising

I've been thinking why don't Kantanka and Innoson merge they would become one of the largest car companies in the world after a few years they are already the top two largest car companies in Africa

We would be producing everything for Africans public transport buy from us, garbage disposal easy, ambulance done, fire trucks anything car they will have it, would be so beneficial to both our economies.

Go to you own central banker
https://www.cbn.gov.ng/documents/bsdpublications.asp
And click one like this.
https://www.cbn.gov.ng/Out/2019/BSD/09082019-%20WEEKLY%20INTEREST%20RATE%20AS%20AT%20AUGUST%209%202019.pdf

Access - 14.5 - 29% - Zenith 16.5%-30%.

Benchmark rate is not important - it's very important - and inform lots of banking decisions.

Now show me this 3.5% LDR rate....you have CBN website there.

theenchanter:
first n foremost, ur link isn't opening. Secondly, i'm not avoiding anything here, i clearly talked about d importance of MPR and i remember saying its higher in turbulent economies and used to check inflation but lower in a stable economy, its even d reason d central bank started d LDR policy.

A bank can give a 7%ter on short term loan, olodo.

If you remove oil & gas from that 1.9B - what really remain for other sectors. I bet there is more capital flight - people have learnt from MTN debacle , VW/Peugot misadventure and other investors who rushed in - attracted by Nigerian pop - and came out minus their shirts.

According to the UNCTAD, FDI flows to Nigeria totalled to USD 1.9 billion in 2018,and showed a decrease compared to the previous year ( USD 3.5 billion in 2017) under the effects of austerity measure.

According to figures from UNCTAD's 2019 World Investment Report, in 2018 the FDI influx to Kenya raised significantly to USD 1.6 billion (from USD 1.2 bill

Abohboy:
That is an exaggeration in the top 5 not in order is banking, telecommunications, oil, gas and agriculture oil and gas are definitely involved but they do not make up our complete FDI

They make up 70% of our forex which is very quickly changing

rvp20182:
Go to you own central banker
https://www.cbn.gov.ng/documents/bsdpublications.asp
And click one like this.
https://www.cbn.gov.ng/Out/2019/BSD/09082019-%20WEEKLY%20INTEREST%20RATE%20AS%20AT%20AUGUST%209%202019.pdf

Access - 14.5 - 29% - Zenith 16.5%-30%.

Benchmark rate is not important - it's very important - and inform lots of banking decisions.

Now show me this 3.5% LDR rate....you have CBN website there.

cbn doesn't cap LDR interest rate, DMBs does that, mumu.

I can show u LDR interest rate of d bank i use.

The Whites built Kenya

Upper hill 1960s

Upper hill now.

I put it to you that there is nothing called LDR interest rate anywhere in the planet.

theenchanter:
cbn doesn't cap LDR interest rate, DMBs does that, mumu.

I can show u LDR interest rate of d bank i use.

rvp20182:
I put it to you that there is nothing called LDR interest rate anywhere in the planet.

if a central bank forced commercial banks to give out loan through LDR policy, will d interest rate reduce significantly or not?

If interest rate doesnt reduce to d bearest minimum, will people patronize it? Will d policy work?

U need brain transplant.

pacretus:
So Toyota and Mercedes should merge. Bro they yan well abeg.

That's different I am talking pan Africa ism one step at a time Mercedes was planning on merging with BMW and Volkswagen at a time because they are all German companies but I said this because we are all Africans

We are stronger together that is what I meant if they merge hey could control the whole automobile business in Africa and rather than make more jobs for people in Japan, South Korea and Germany we can make jobs here in Africa with our own companies.

Nigeria has a minimum LDR of 60%. That is nothing to shout about - because like I told you most kenyan banks do 80-90% (average last year was for listed kenya banks 75% - down from 80%) - and our central bank don't have a minimum LDR.

Now show me where you got LDR of 3.5% - slowpoke.

theenchanter:
if a central bank forced commercial banks to give out loan through LDR policy, will d interest rate reduce significantly or not?

If interest rate doesnt reduce to d bearest minimum, will people patronize it? Will d policy work?

U need brain transplant.

rvp20182:
Nigeria has a minimum LDR of 60%. That is nothing to shout about - because like I told you most kenyan banks do 80-90% (average last year was for listed kenya banks 75% - down from 80%) - and our central bank don't have a minimum LDR.

Now show me where you got LDR of 3.5% - slowpoke.

GTB gives 1.75% interest rate. 1yr is d maximum term.
https://www.gtbank.com/personal-banking/loans

Abohboy:
That is why we need the Eco currency it will help trade between Ghana and Nigeria so much if Nigeria and Ghana shared a border the amount of trade and money and industries that would grow would be so surprising

I've been thinking why don't Kantanka and Innoson merge they would become one of the largest car companies in the world after a few years they are already the top two largest car companies in Africa

We would be producing everything for Africans public transport buy from us, garbage disposal easy, ambulance done, fire trucks anything car they will have it, would be so beneficial to both our economies.

first of all , eco currency will not work, Nigeria goverment will frustrate the plan, Nigerians leader are very conservative ( Short sighted )And this is the not the first stands of Nigeria , it has been there since 60s when balewa thinks inkrumah is priding himself like messiah of Africa ....

Ghana presidency is suggesting the idea can be floated without Nigeria ( let's see if that will work) ...

You brought in fantastic idealogy.... merging of kantaka and innnoson can fastrack development rather than single handedly piloting it .... Ghana is currently enjoying the international recognition of a peaceful and well balanced democrcy that is even envy by other country, Nigeria has bigger GDP with over 200 million population... that will be impressive. Ghana can be a good transit hub for innnoson as Ghana products are crurrently acceptable than Nigeria product. for example , A Nigeria buisness man will like smuggled his yam to Ghana for exportation rather exporting it frorm nigeria because of perceived Ghana value.

The problem of going through Nigeria infamous education. 1.75% monthly interest - annualized is 1.75*12 =21%.

GTB is charging your interest rate of 21%. That is not cheap. That is damn expensive.

theenchanter:
GTB gives 1.75% interest rate. 1yr is d maximum term.
https://www.gtbank.com/personal-banking/loans

rvp20182:
The problem of going through Nigeria infamous education. 1.7% monthly interest - annualized is 1.75*12 =21%.

GTB is charging your interest rate of 21%.

the problem with u is ur ineptitude to assimilate before responding.

Its a new policy and thats 1yr interest rate if u dont default!

rvp20182:
The problem of going through Nigeria infamous education. 1.75% monthly interest - annualized is 1.75*12 =21%.

GTB is charging your interest rate of 21%. That is not cheap. That is damn expensive.

I am impressed.....You just change my thought about you... i am expecting this from you since.....

I went to the website. It's 1.75% monthly interest. That is how you lie to poorly educated Nigerians and get away with shylock rates.

theenchanter:
the problem with u is ur ineptitude to assimilate before responding.

Its a new policy and thats 1yr interest rate if u dont default!

theenchanter:
I've stated that our LDR interest rate is 3.5% but I don't expect ur eyes to be functional at all time.

theenchanter I know say you must wash that guy

MUMUdom:
Hahahahaha Fuckeduppedness you are playing with fire oooh Fuckeduppedness don’t start what you can’t finish oooh roforofororo

Play with which fire who you be anyway you know the kind of people you're doing that rubbish with. But them no born you well to come close to Problemkid1 bombastic fool

MUMUdom:
Fuckeduppedness I no fit laugh ooooh naija is just useless the country, the people come and see how they are disgracing themselves here in Singapore chai, naija oooooh

LMAO hahahahahahaha this bombastic fool won't stop embarrassing his stupid useless self how is it our fault that your country is a complete shitthol a glorified shitthol a well planned ZOO we closed our border you bombastic Ghanaians scallywags are cry fowl to our government to open our border so that you can smuggle criminals like you in our country thunder from Egypt fire you flatskull there that border will remain close till World end and nothing will happen you Ghanaians fools haven't seen anything yet. Hunger go fire una black burnt yansh you fools don't even have Common shame. Your country is the smallest in West Africa but still looks like Somalia chaii, nothing Musa no go see for gate I swear oooo when will Ghanaians get Common sense to see how fvcked up their shitthol is the most useless creatures on Earth. Bunch of Bombastic animals in one tiny shitthol