₦airaland Forum

[s]

FrLukas:
Na dem Sabi.
Ale dem dey borrow dey go.

By 2023 there won't be Nigeria anymore.

Who will they collect money from?

[/s]

Agboriotejoye:
Crude oil is not an industrial product abi?
What industrial products do you have in mind exactly?
Has it occurred to you that the reason why crude price is being controlled by OPEC is because there are many suppliers and OPEC is actually an attempt to control price which is usually undermined by the bigger economies like US and Russia?

Eventually we would manufacture stuff like electronics, cars and so on and export.

The truth is , before you laugh, that is how countries like Korea, China that were behind us in the 1960s are now strong nations.

OPEC is dead. Everyone now discovers oil. The USA is self sufficient in oil. Hence the low oil prices

Plus where was OPEC whenever Saudi Arabia decides to pump oil beyond its quota?

And do we actually control the prices?

Plus why export crude and then waste the money importing importing

Gnaeusmagnus:
Eventually we would manufacture stuff like electronics, cars and so on and export.

The truth is , before you laugh, that is how countries like Korea, China that were behind us in the 1960s are now strong nations.

OPEC is dead. Everyone now discovers oil. The USA is self sufficient in oil. Hence the low oil prices

Plus where was OPEC whenever Saudi Arabia decides to pump oil beyond its quota?

And do we actually control the prices?

Plus why export crude and then waste the money importing importing

You're not going to be the only one manufacturing those things you mentioned and definitely won't control their prices.
China, Korea products are actually cheaper than those of western nations so you can ask yourself how they're able to make it without controlling price as you posited.
Where I'm going though is that oil prices are not the problem. It's how we manage what we have over the years that's the issue. Even the oil! As you said, Saudi pumps beyond its quota cause it can. Most times, we don't even meet our quota not to talk of exceeding it. Countries don't just develop by controlling price. But more by efficient management of their wealth and resources. It is this that leads to self sufficiency in critical areas and that's when we can get to where we need to be

We need to restructure for the country to work. Diversification will not be possible without restructuring!

mercyville:
Fastest growing economy that was borrowing money to pay workers,foreign reserve down and recession creeping in

It was all paper economy.

First of all, you need to understand allocation of resources. That the present administration did not saying it is borrowing to pay salaries does not negate the fact that it is borrowing. Those in the know, know that loans are moved around & utilised where there is a short term deficit.

Your point about borrowing to pay salaries would make sense if the government was not borrowing at all.

Secondly, the foreign reserves were down because with crude oil at over $100pb, Nigeria was selling less than 1mb of crude oil daily, Nigerians were buying fuel at under N100pl & your exchange rate was being kept under N200 to a dollar.

Third, do a quick check... US, UK, Austria, SK, Malaysia & a number of countries better developed than us have a higher debt ratio than Nigeria... Are they also paper economies?

Zoharariel:
Ofcourse, Amerika had to cut imports of crude oil by 60% & 100% since she is stealing it for free in Syria & Iraq.

I also heard Amerika has suddenly - OVERNIGHT - become the largest exporter of crude oil.

I Like Oil, We're Keeping The Oil: Trump Confirms US Wants Syria's Oil, Not To Patrol It's Borders.

"The ceasefire has held very nicely. We’ve kept the oil. We’ve stayed back and kept the oil. Other people can patrol the border of Syria, frankly, and Turkey, let them - they’ve been fighting for a thousand years, let them do the border, we don’t want to do that. We want to bring our soldiers home. But we did leave soldiers because we’re keeping the oil. I like oil. We’re keeping the oil,” Trump said, speaking to reporters on the White House lawn on Friday".

Source: https://sputniknews.com/world/201911021077207222--i-like-oil-were-keeping-the-oil-trump-confirms-us-wants-syrias-oil-not-to-patrol-its-borders/

Believe whatever nonsense statistics being thrown around in the MSM by the United Snakes of Amerika at your own peril.

Back to Topic.

Scully - I swear to Obatala, the $22Billion these bastards intend to borrow dey pain me gidi-gan.

Is this the same fvcking Country Obasanjo fought for to cancel our debt profile?

Ofcourse, the dumpty Southerners do not care (except Abaribe) as long as they get their own share of the bribe trickling into their Bank Accounts.

They fail to see the big picture, which is - Nigeria is heading to the rocks (Nigeria will be balkanized in few years time - I'm guessing 5years MAX) and the North are doing everything to get whatever they can from this SINKING SHIP and use it to develop the North.

The regional security outfits being approved by the South-Western States Assemblies (including impending ones from the South-South & South-East) are telling them that Nigeria's disintegration is imminent, therefore they do not want to be caught unawares.

But one thing is certain.

Speaking for myself, any bastard Politician from Ogun State (especially the Senators & HOR members) who are busy enriching themselves at Abuja with their constituency allocations, rather than using it to develop our communities like the North is doing - will be annihilated & eviscerated (along with their families) should they EVER DARE to vie for any political or leadership positions in the "Oodua Republic" after the balkanization of Nigeria.

They can continue buying Okada, Wheel-Barrow & Keke Napep as empowerment project for their constituents - while the North is busy building Bridges, Hospitals, Schools, Factories & Mechanized Farms in preparation for the FAMINE that is to come.

By the time we do away with them & their families, we - the new battalions of "Hungry Lions" will take over, assume the reigns of power and then do the needful.

The first part of your comment is off point. The fact remains that between 2012 to late 2014, US practically stopped buying Nigeria's crude.

too much debt is not good....

the irony is,you must borrow to build stuffs....
in this modern age,you cant avoid it....

ivandragon:
First of all, you need to understand allocation of resources. That the present administration did not saying it is borrowing to pay salaries does not negate the fact that it is borrowing. Those in the know, know that loans are moved around & utilised where there is a short term deficit.

Your point about borrowing to pay salaries would make sense if the government was not borrowing at all.

Secondly, the foreign reserves were down because with crude oil at over $100pb, Nigeria was selling less than 1mb of crude oil daily, Nigerians were buying fuel at under N100pl & your exchange rate was being kept under N200 to a dollar.

Third, do a quick check... US, UK, Austria, SK, Malaysia & a number of countries better developed than us have a higher debt ratio than Nigeria... Are they also paper economies?

the thing is,many nigerians dont understand how economies work....
i still have it hard to understand how it works and i dealt in forex....

Zoharariel:
Ofcourse, Amerika had to cut imports of crude oil by 60% & 100% since she is stealing it for free in Syria & Iraq.

I also heard Amerika has suddenly - OVERNIGHT - become the largest exporter of crude oil.

I Like Oil, We're Keeping The Oil: Trump Confirms US Wants Syria's Oil, Not To Patrol It's Borders.

"The ceasefire has held very nicely. We’ve kept the oil. We’ve stayed back and kept the oil. Other people can patrol the border of Syria, frankly, and Turkey, let them - they’ve been fighting for a thousand years, let them do the border, we don’t want to do that. We want to bring our soldiers home. But we did leave soldiers because we’re keeping the oil. I like oil. We’re keeping the oil,” Trump said, speaking to reporters on the White House lawn on Friday".

Source: https://sputniknews.com/world/201911021077207222--i-like-oil-were-keeping-the-oil-trump-confirms-us-wants-syrias-oil-not-to-patrol-its-borders/

Believe whatever nonsense statistics being thrown around in the MSM by the United Snakes of Amerika at your own peril.

Back to Topic.

Scully - I swear to Obatala, the $22Billion these bastards intend to borrow dey pain me gidi-gan.

Is this the same fvcking Country Obasanjo fought for to cancel our debt profile?

Ofcourse, the dumpty Southerners do not care (except Abaribe) as long as they get their own share of the bribe trickling into their Bank Accounts.

They fail to see the big picture, which is - Nigeria is heading to the rocks (Nigeria will be balkanized in few years time - I'm guessing 5years MAX) and the North are doing everything to get whatever they can from this SINKING SHIP and use it to develop the North.

The regional security outfits being approved by the South-Western States Assemblies (including impending ones from the South-South & South-East) are telling them that Nigeria's disintegration is imminent, therefore they do not want to be caught unawares.

But one thing is certain.

Speaking for myself, a[b]ny bastard Politician from Ogun State (especially the Senators & HOR members) who are busy enriching themselves at Abuja with their constituency allocations, rather than using it to develop our communities like the North is doing - will be annihilated & eviscerated (along with their families) [/b]should they EVER DARE to vie for any political or leadership positions in the "Oodua Republic" after the balkanization of Nigeria.

They can continue buying Okada, Wheel-Barrow & Keke Napep as empowerment project for their constituents - while the North is busy building Bridges, Hospitals, Schools, Factories & Mechanized Farms in preparation for the FAMINE that is to come.

By the time we do away with them & their families, we - the new battalions of "Hungry Lions" will take over, assume the reigns of power and then do the needful.

lol, even the politicians are preparing for the impending bulkanization of Nigeria, they're looting non-stop, converting their loots to dollars, buying properties abroad. They'll japa when shit hits the fan

justtoodark:
the thing is,many nigerians dont understand how economies work....
i still have it hard to understand how it works and i dealt in forex....

Yes. It's quite complicated & this is mainly because politics overrides economics especially in a developing country such as Nigeria.

95% of our economics policies are determined by political interests (personal, group & general). This needs to be reduced.

justtoodark:
too much debt is not good....

the irony is,you must borrow to build stuffs....
in this modern age,you cant avoid it....

Well, the thing is Globalization is failing big time and current financial system is dying very fast if not even completely dead(Only a matter of time).
The future has already started. The future of payment and less DEBT society.

DEBT= Is nothing but modern day slavery and every country should do whatever it can to move far away from DEBT. The empire already wants everyone enslaved and the only way to do that is to sell DEBT (Slavery) to countries and if you can't pay back you know what will happen. (either they give you another debt to pay for debt like in the case of Greece or you start losing assets and when they are done with you, you money will be like Somalia or Zimbabwe)..

Note that this is what gives this G7 Economies the power to print massively and manipulate the financial system thereby making their currency stronger.

The G 7 Economies with U.S being the leader (A kind of Economic Dictatorship) where the FEDS prints $$$ at will without anything backing it while this mere printed paper that has no value but war backing it and the blood of innocent people worldwide.

Every dollar paper represent Debt. So for a country to be in DEBT. It means her citizen will continue to work hard, pay tax(Double if not multiple tax) till the rest of their lives or even generation unborn.

To build stuff. This is no rocket science, you have got to empower the Youth not via their useless buying of keke napep or okada but by investing in Education, research and development.

It's a long story but to cut it, you can do very well without borrowing much. Despite that, NIGERIA still has low DEBT but which ever way, A DEBT is a DEBT and it will keep growing if the right thing is not done.

Saudi oil war has started, they are selling a Barrel of oil for 8USD now. Dragging the price to all time low again trying to hurt other Oil dependent economies.

Nigeria already won this war so it wont have much effect. Naija may re-introduce the Dollar war back.

Before I go. The future of payment is BLOKCHAIN like BTC that is using the technology and also other POW currencies.
Do you wonder why 1BTC today is 3,000,000 Naira ?
That is the future of Payments and a DEBT free Society.
A DEBT that can't be transferred to anyone else.
An interesting future has begun.

scully95:
Well, the thing is Globalization is failing big time and current financial system is dying very fast if not even completely dead(Only a matter of time).
The future has already started. The future of payment and less DEBT society.

DEBT= Is nothing but modern day slavery and every country should do whatever it can to move far away from DEBT. The empire already wants everyone enslaved and the only way to do that is to sell DEBT (Slavery) to countries and if you can't pay back you know what will happen. (either they give you another debt to pay for debt like in the case of Greece or you start losing assets and when they are done with you, you money will be like Somalia or Zimbabwe)..

Note that this is what gives this G7 Economies the power to print massively and manipulate the financial system thereby making their currency stronger.

The G 7 Economies with U.S being the leader (A kind of Economic Dictatorship) where the FEDS prints $$$ at will without anything backing it while this mere printed paper that has no value but war backing it and the blood of innocent people worldwide.

Every dollar paper represent Debt. So for a country to be in DEBT. It means her citizen will continue to work hard, pay tax(Double if not multiple tax) till the rest of their lives or even generation unborn.

To build stuff. This is no rocket science, you have got to empower the Youth not via their useless buying of keke napep or okada but by investing in Education, research and development.

It's a long story but to cut it, you can do very well without borrowing much. Despite that, NIGERIA still has low DEBT but which ever way, A DEBT is a DEBT and it will keep growing if the right thing is not done.

Saudi oil war has started, they are selling a Barrel of oil for 8USD now. Dragging the price to all time low again trying to hurt other Oil dependent economies.

Nigeria already won this war so it wont have much effect. Naija may re-introduce the Dollar war back.

Before I go. The future of payment is BLOKCHAIN like BTC that is using the technology and also other POW currencies.
Do you wonder why 1BTC today is 3,000,000 Naira ?
That is the future of Payments and a DEBT free Society.
A DEBT that can't be transferred to anyone else.
An interesting future has begun.

true true....debt is modern slavery....

What an intelligent thread.

I doff my hat.

fergie001:
What an intelligent thread.

I doff my hat.

and we doff our hats at you back too....