kpompey:
An under performing governor want to contest presidency.Nigeria don cast

Mtop:
I did. Nairaland's configuration apparently didn't.

seunmsg:


It’s also subsidy. The only difference is that FG is not paying any importer direct subsidy like it was done in the past. NNPC is the sole importer and they under recover the cost.

seunmsg:


Selling at a price lower than the cost price. That is, the seller is under recovering the cost.

seunmsg:


Subsidy was fully removed last year. However, Tinubu cannot force the price to static. PMS price in Nigeria is subject to other factors like price of crude oil in the international market, cost of refining and most importantly, exchange rate. For the no subsidy policy to remain, prices must keep changing to reflect market reality. Sadly, Nigerians can’t take any further price increases again. So, FG have to start doing under recovery to keep the price static.

Goodvibes007:

Gbam. They did the same thing during the election. Use Yoruba names to try and gaslight Yoruba people.

It's just the same method over and over again. They never healed from the civil war trauma. Peter Obi's loss compounded the trauma again.

flokii:
Nnamdi Azikiwe opposed secession clause in our constitution in the early days because he thought Nigeria in its entirety will fall under Igbo domination.. he has several quotes about some gods giving Igbos dominance over Nigeria credited to him. Let them not deceive you that they wanted regionalism or federalism and whatnot.
Ahmadu Bello pointed it out clearly in his interview that Igbos took over all the Governmemt jobs in the North and he changed everything to ensure Northerners get jobs in their region. That made him introduce the " Northerner first" policy which has favoured Northerners till date.

That is why it's always good to think deeply before acting.. they orchestrated first blo0dy coup d'etat on 15 January, 1966 but Northerners fought back and took power for themselves while docile Yorubas looked on.

ElectronicMoney:


A lot of the people who are trying to denying the negative effect of Binan.ce on the exchange rate are doing so because they earn some income in US$, but unfortunately they do not realise that a severe economic turmoil in Nigeria will have a negative effect on everyone either directly or indirectly!

ElectronicMoney:


I remember when Enyinne made this observation here last year and some people shouted her down.

It is becoming more clear to most people now that Binance is the reason for the fast depreciation of the Naira

I'm sure if you check the data you will find that there has not been an appreciable increase in the level of imports over the past 6 months yet there has been a sustained pressure on the Naira-Dollar exchange rate...this is very illogical and is concrete proof that Binance is the culprit!

casualobserver:


I do not like to comment on things I know nothing about. I am no expert on Crypto, binance and all that…..however I wouldn’t worry about them because they are temporary people…when they buy, they must sell to crystallize their profit so the net effect is negligible unlike the dom account holder who buys dollars and keeps his money permanently in dollars. The trader creates demand when he buys and then creates a supply when he sells but the dom account holder is a hoarder, he creates demand but never sells….I may be wrong.

If I were to guess I would say they are trading based on the hoarding patterns of the dom account holders.

casualobserver:


Why is the Naira falling? Because there is speculative purchase of dollars. Why is there speculative purchase? because people feel it wil continue to go lower and so it feeds on itself.

There is forex in the system, the problem is people are buying dollars not to purchase anything but to preserve their wealth, this is because we have dom accounts, so you can buy dollars and do nothing with it. Meanwhile those who have legitimate need for dollars are competeting with those who just want to buy dollars to put in their dom accounts.

The frenzy has started, Naira can easily hit N4000:$1. The only way to stop the slide is to ban dom accounts at which point the only people buying dollars will be those who have legitimate businesses and those willing to store in cash.

Mark it down that I said it here, the only solution and the only point at which the decline will stop is when dom accounts are banned.

Our yearly import bills are less than the yearly forex inflows (official and unofficial) so clearly this decline in Naira is speculation and hoarding.

Throwback:


Are you still waiting for the FBI files?

Abi providence no gree provide again?

You will soon run mad like your brother.

sirmustyla:
The person that post these pictures is shameless.
So after eight years this is what Yahaya Bello has to show, about 6 buildings and one substandard flyover constructed by a one man mushroom company and already paid for by the previous administration. God's judgement will befall you and Bello.

shortIGBOman:



True. Northerners are sincere and have strong integrity. Unlike my people.

Igboland:
I say this all the time, worse of all same Awolowo have this ingrate monthly allocation piled up throughout the war.

Imagine what huge capital that is over 3 years as if Nigeria didn't spend to fight the war.

Over nice na him de kill Yoruba, sam's over nice is why Peter obi can win Lagos n Atiku win Osun. Same over nice is why the like Falz Simi, this oloriburuku in AriseTV Rufai can publicly go anywhere n be denigrating Yorubas n Yorubaland with caution or reparcussion.

Benwallt:
Thief, gbajue. He knows that's the only way he can be president. It will be skipped when it get to Igbo turn. Peteru is a skunk and a criminal

omohayek:


Ignorant people look at the nominal CBN interest rate and claim that it's already too high, even though in real terms it is actually highly negative

casualobserver:
. You answer the question. Do you respond when a well known mad man calls out to you on the streets?

grandstar:


So what if Nigeria is an oil rich nation, does that mean it must subsidize refined oil products? Cameroon next door does not. Brazil does not. But most importantly, the money to subsidize it, 2.2% of GDP is simply no longer available. At least half of the country's national debt was incurred because of this fuel subsidy. It's ridiculous

Are you saying Tinubu and co are enjoying subsidy? I doubt they enjoy subsidy. What they enjoy may be more than a subsidy which is free petrol for transport. Even the American president does not pay for his movement. They are all perks of office.

Yes, it's unfair they are paying themselves money for recess. The matter arising is "how much is involved?"

Let me be super generous and say 10bn the senators award themselves but that is peanuts to the $10b (7.5tr) that the fuel subsidy will consume. It's the difference between being hit by a toddler on a skateboard and a high-speed train. There's no contest.

One function of the government is certainly not to load more debt on the heads of its citizens and see life depreciate in other ways.

Or do you want to return to Buharis days? He gave you fuel subsidy but the nation's debt quadrupled under his watch. The Naira lost three quarters of its value. The economy has been stuck in a comatose state for 8years now!

There are better ways to help the citizenry without destroying the economy or the government purse.

Throwback:


See as you disgraced yourself.

If Ondo oil is not enough to run your generator, then SouthEast oil is not enough to anoint your forehead.

aswani:


President Tinubu got his support from
non-Obidients. We boku for dis Naija pas Obidient well well.

HardMirror:
Obi has entered his rat hole. He knows he is going to lose. He is busy releasing doctored audio to smear Atiku. Obidients think by smearing atiku they will get support to win tinubu. Why is everyone blackmailing atiku today?