₦airaland Forum

Curvinus:
1. Demand and supply. If more people are demanding the dollar for importation and you do not have enough in your foreing reserve to service these needs, the currency will become scarce and expensive, meaning you will need more of your local currency - in this case the naira - to buy a unit of the dollar.

2. Of course, if your economy is structured in such a manner that you do more of imports, you will have a negative ballance of trade/ballance of payment and this leads to unemployment, currency devaluation and all the other problems Nigeria is facing.


2. Why would we want to raise the value? So you can use your N10,000 salary to buy a brand new car based on an artificial value created by the sale of oil. Of course this is not sustainable as we would be back to ground zero if the price of oil falls again. We need not be obsessed about the value of naira to the dollar. Rather, we should be thinking of how to produce what we need and be immune to whatever happens in the monetary market.

4. See above.



5. We were producing what we needed then. The regions were self sustaining through agriculture. But Gowon's counter coup laid the foundation for the destruction of Nigeria's economy. Oil became our mainstay and the 12 states Gowon created became more or less, glorified military formations fed directly by the FG. We lost our incentives to work hard and oil boom made sure this madness continued until what you have now. This is why you have calls for restructuring our fiscal federalism.

Good one. Factual.

cococandy:
My annoyance with the GEJ blame is that it's borne out of pure hatred and tribalism. He's a minority so whatever he did was never good enough. No doubt we've have horrible leaders in the past (one of whom was buhari. The trend setter for the downhill state of our economy) yet for some reason GEJ was the worst thing that happened to Nigeria. Even buhari that should never smell any government seat for he rest of his life for his misrule in the 80s was considered a better choice than GEJ just because he's from the majority.

Tribalism will kill Nigeria. We are talking of corruption but tribalism is even worse. Only in Nigeria does state of origin matter when looking for a job or college admission. We have never been one. We are not one. Because we don't act like it. .

Totally agree with you two ladies Coco and Otukpo but as a people we need to discuss solutions whenever we can because this country belongs to us all and we are all affected in one way or the other by its fortunes or misfortunes. Not everyone will see reason and so should not attract responses all the time. The way people respond to things should show you how low their capacity at finding solutions is and how useful they are to society. If I had a wife or a boss or an employee or a mother or father or brother that just sits there all day nagging about how his past ties down his present and future without profering any solution and taking no action, I cannot see how I can potentially relate with such a person long term.

Miles300:
This Cbn governor should take a rest now , his done his best .. Yes oil prices may be low . But the delay of this careless government to make fiscal policies after comin to power is the cause of all this wahala , modern economic waits for no one .. Imagine the United States without cabinet ministers for 2days just imagine how much will be lost in Wall Street .. Besides no country has be successful using the floating system introduced by the Cbn .. This measure is a short term process in other to stabilize a currency and not seen as a permanent solution.

So what is your solution. Where will you find the dollars to give the CBN. Mr man. There are only three ways a government can have forex. By exports, by investment and by debts, choose which one you prefer....thoughtfully.

The only export we have, oil is down (for various external and intransigent socio-economic reasons which are impossible to surmount), investment is down (due to various politico-economic reasons, which can be corrected) and debts are not desirable at all and are not easy to obtain (because of the global slow down and the horrendous long term effects). From the above you can clearly see that investmemt is the easiest path out of the quagmire but the good thing about economic fundamentals is that once you can get one going by diversification of production, two will come a lot easier and faster.

The penultimate paragraph says it all and the last paragraph is the clincher. The market must be made perfectly liquid. This is the crossover point where our economy transits from boyhood to manhood, where it begins to take responsibility and pay its bills. We may not like to leave the comforts of home but at some point we must and this President and this generation will take the credit for making this important decision in our history. We MUST stay the course and weather the storm. If President Bunari can, he will have my full support going into any future election vbecausr the threat to reverse the course will only bring about calamitous results. We will absorb the hardship and the CBN should further let the naira go. Then we will begin to see the kinds of non oil sector investments we need to found this economy and diversify its base. The world is watching and waiting in the wings to intervene only if we get it right.

AmAlbert:
Please FG help us here in Togo, Imagine I changed Naira today only to see that exchange rate now goes for 916 cfa to 1000 naira, please nau you people should help us, Nigerians hardly comes to Togo nowadays to purchase goods cos of the exchange rate... Please help o

That is a good development. Come back and make the stuff they purchase from there over here. We can no longer support the Togolese economy at our expense. We are not Saudi Arabia. Why should we help you there in Togo. Why. Every damn country in the world makes a living at our expense. Do we have a trade surplus with any country, no. Every other nation is getting rich at our expense, and we should continue like this?

The chap hasn't won anything at club level, hasn't crossed the midpoint of the Premiership standings and over the past few seasons has been locked in relegation battles....or is England afraid they will be relegated by FIFA to the Oceania Federation to play the likes of Fiji as serial 'underwhelmers' since countries like Iceland are beginning to freeze them out of UEFA. hahahaha....laughing at the three pussycatos.....

BABAODU:
I don't know why he won't just try and focus on the standard way of generating electricity, before going for alternative source, just another way to embezzle Nigeria money. All these new technologies requires good maintainance culture which we don't have as a nation.

Pls Mr Fashola, invest in big gas turbines, set up gas turbine farms in the areas that has aboundant natural gas that we are stupidly flaring up at the moment. That way we can generate electricity at cheaper rate and you can reduce tariff.

Be like say you no dey taya for this oily gas business. I passed Geregu a couple of days ago on the way to Abuja, only one of 6 turbines working, reason, gas. No infrastructure, no gas agreements, no gas security. The question you should be asking is. Why can't we run those plants with coal gas. Have a plant situated on location at Geregu or just 300 miles south in Enugu where abundant deposits lie. Why must it be from Escravos 900 miles away through Indian country. Is that rocket science again.

sammydemperor:
smh...

is it that we lack understanding or the will power to make effective change

For God sakes who builds a 1125 MW plant with $1.75 billion?

You guys may see it as progress, but damn how much do you really know about power generation, its not about the number of stations, rather the capacity. These plants will not be able to deliver up to 45% of their rated capacity to the Grid...

the largest dam in world was built at a cost of $22.5 billion and it generates 22,500 MW of electricity, spare me all the bullshit of littering the whole country with mini-power plants...

build something tangible, power generation is not rocket science all it takes is just some level of responsiveness to the plight of your people

this is how they will keep on taking us for granted, if we just take anything they bring to our table without us questioning them

so much for change...

The reasons are very simple, we don't make anything. You will be surprised that the local content on those projects will not exceed 3 percent. Even screws and pins will be imported because we don't make them. This makes things unaturally overly expensive in Nigeria. The 3% local content may as well be the Dangote cement in the concrete supports and speaking of Dangote, we can see what a good manufacturing output does to the economy and cost of things. Cement has remained rock stable in price despite the crushing inflation of the last one year and despite the fact that other construction components have almost doubled in prices.

There is no way out of economic depression if we donot make things. To compare the cost of building industrial infrastructure such as power, water and other works in China and Nigeria is just senseless. There is nothing in this country to make things cheap.

Izontubo:
Very good....NDA helping this government think outside the box....very good

That's what I've been saying all along. The biggest economy in the world, the US has the second world war to thank for all its main manufactiring concerns. The third largest economy in the world, Japan was nuked in 1945, the fourth largest (if I'm not mistaken), Germany was turned to the largest stone quarry on earth by american, british and russian bombers. Why on earth can the black man, the Nigerian not profit from adversity. We are the only country in the world that has fought a civil war and gained nothing from it, rather retrogressing steadily since the war ended in 1971. Even Rwanda has changed for the better, unrecognizable. Why are certain sections so damned incensed, angry that free oil is going when it is the best thing to happen to this country when we all know it will soon run out or technology will overtake its appeal. Why do we resist the inevitable like a junkie resists his crack pipe being taken away......

deligatus:
Its simple federal govt should subsidize solar panel for people to buy personally depending on the amount u want.

Pally you no dey taya for subsidy and corruption. Government should do no such thing. It will spike inflation and a further run on the naira. We don't need consumption subsidies but production incentives. What we need is massive investment in component production, components like solar panels, deep cycle batteries, etc. Government should either identify offshore manufacturers (particularly the Asian ones) and drag them kicking and screaming with every incentive in the book to set up shop in Nigeria or identify top, top private Nigerian industrial concerns (and they can give it their usual geo bullshite colouration) such as the Dangote, Innoson and Honeywell, and give them World War II type marching orders (like the marching orders given to Ford and Boeing in America; Porsche, Volkswagen, Fokker and Krupp in Germany and Mitsubishi in Imperial Japan), to manufacture a set number of components within the tightest time schedule in the history of Nigeria or face the gulag. That is the one certain way of kick starting an industrial power revolution.

Best news I've heard in ages. Good one Fash, good one. This is the direction we should be heading, diversification of our energy pool, diversification of our economy and investments. I hope the plants will be located in the north so that power injection and flow can be a true circuit, a proper ring transmission circuit that will hopefully open the way for true private participation in the supply of electricity.

Can this man just shut it for once and face issues of governance, haba. What is all this nonsense.

DaBullIT:
You don't want it taxed?? tell your brothers to stop blowing up pipes

But on the other hand keep blowing them up


Nigeria is not exporting enough crude to sustain her economy and as said , desperate times call for desperate measures , if we could export and produce enough , we'd have enough revenue , but in some people's warped Logic, It's Ok to blow up pipelines because Buhari called them 5% , It is Ok for avengers to cripple the economy because they are fighting for autonomy


But same set of people come here and rant and wail about how Buhari is making life hard for them ?? Na you do you

Buhari no dey buy petrol , Buhari no dey buy gas , Buhari no dey enter transport , All na you and your people everybody go suffer am


So , Common sense

At least you acknowledge they can cripple the economy. Thought you guys said they were mere noisemakers. Does common sense not dictate that these incidents should have been averted. I warned months ago that the sabre rattling by the Federal Government was misplaced and foolhardy and that it should do everything within its power to de-escalate the growing tension then but you guys were shouting corruption, corruption, recover lost funds, recover heaven and earth, now we have lost ten, twenty times what was stolen by those militants. And the fact is that one year of economic damage does not take justone year to repair but many more. You guys should wise up and stop bickering against your country.

I am not a traditionalist but isn't 15 years a bit too young for funerology i.e. posters, etc.

The theatre has been going on so long that one cannot accurately ascertain when these incidents actually happened. There have been no less than four hundred Thursdays since this tragedy began.

Ishilove:
I don't understand. Is it that people don't seek to know the will of God again before marrying?

Obviously they don't but place God before their affairs but having said that the grounds for divorce are pretty light.

For starters there are countless couples who get married without knowing that either party is incapable of making babies. Even the menfolk who are traditionally hostile towards their partner's incapacity are turning around. These days we hear more and more stories of couples making babies after ten, twenty even thirty years of matrimony.

Same with the jealous thing. It happens in every relationship thoughtless of between couples. Give it five years and he will be fed up of your face. The two concerns are the potential for violence and religious angles because these are issues of pure passion. I suggest you exercise maximum restraint and wait for a set time of change as regarding the former and reach out to him in love concerning the latter.

I also have this feeling you are not giving enough to make this marraige work because all you have related here concerns what you want, what you desire and you cannot get. That is not the basis of the marraige institution or any relationship whatsoever. Even with God you will not get all you want thoughtless of man and you will surprised that no family has it all. It is with certainty that the man who you leave him for will have a deficiency.
And that is why most who divorce hardly ever stop at one incident and those who are polygamous hardly end with just two wives.

edorhe14:
Some party will come out and try to score points
This is the height if victimization though.

This is exactly what should happen. The opposition should come out and score points. This is how societies are built by the instrument of democracy. It will engender debate for the reformation of society. No one should be afraid if it except he is simply a political fanatic that cannot see the ills if his beliefs.

SweetJoystick:
WTF 40MW? $45m looks inflated to me for such project

Yeah, sounds a bit high but for the plant but I suspect there are other imfrastructural costs involved.

farouk0403:
They should give it a try. Let's,see whether it will work

They should not even try it or it will damage both sides in such a manner to take years of repair.

Gkemz:
If the lawmakers deem it necessary to impeach him, that is for the good of the people they represent. Anenih should understand that impeachment is a legal means of checkmating the excesses of the executive and a means of holding the leaders accountable for their actions.

There are other means of checking the Executive. One stands before them, the names forwarded for ambassadorial approval. Simply make it unworkable. They already have done a good job earlier in the year of messing up the Executive by delaying and stonewalling on the budget which has rendered most of the governments programs useless this fiscal year so they can do damage and make the Executive's look mediocre and their government ungovernable. You don't have to remove a person to make him feel like not hanging around. There have been several lame duck presidents and premiers the world over no thanks to the parliaments of their countries.

Same here. Can't see impeachable offences, does nothing to further democracy and will open the door to endless instability. There are better means to check the excesses of any arm of government and it starts with proper delineation of powers amd the integrity of each arm of government. If you want respect then you must show why you should be respected. And so far the Executive, Judiciary and Legislature are doing very little to show it.

Stegomiah:
THE WOMAN IS A DISGRACE

AT 50, WHAT DOES SHE WANT AGAIN?

SHE DIED A SHAMEFUL DEATH

A LADY AT 50 SHOULD HAVE REACHED MENOPAUSE


SMART REPLY FROM THE DAUGHTER AND HUSBAND

SO EMBARRASSING

Yes, the dignity of women to be protected. Like to hear your views if it was the husband that died in that seedy hotel.

Ndoma Egba the thief. Chai. Why always poor choices, why.

collinsVP:
I wish PMB was younger, sophisticated and liberal. Things could not have deterolated to this level.

We got it all wrong the moment a single criteria( ability to fight against corruption) was used to select him.

Embezzlement of public fund is on the decline and the economy is on the decline more than proportionate. It does make sense.

GEJ had better economic team but he compromised the standard due to his second term ambition.

Is Nigeria not an error?

Told you guys ceaselessly that there was more to Nigeria's woes than corruption but you guys are just too damn slow in thought to weave a developed country so enjoy. I have no sympathy whatsoever. The owners of Nigeria know they have woven enough camoflague webbing to hide their true intents. But with time all will manifest.

By 2019 everyone will be demystified.

I no talk am say Kachi go hear am. Corruption CAN NEVER END in this system we operate. The Constitution guarantees the right of every Nigerian to be corrupt. Scrap the NNPC, they won't. Under the nose of the presiding. Minister, Mr Anti Corrupt the battles rage for who will preside over the theft because that is all what the sordid game of musical chairs is all about. Pity. Oya Kachikwu fire back.

Quakertellicus1:
On a more serious note...this problem started a long time ago
(Grab the popcorn kids....time for another Tales with QT).

In the 1970's/...government took over many mission and private schools, and built new ones all over the place....because we could. (Oil prices were high and we had enough money to meet our needs, and pay the salaries of workers in some Carribean island no one heard of).

As a result, today, many states have too many schools to look after. Of course, the money is not enough to go round (and corrupt termites of the human kind are busy swarming around to take their bite). Meanwhile....fees are kept low, meaning that schools do not have an alternate source of funding.

So, we have schools starved of cash and principals often have to resort to funny ways to raise cash (WASSCE processing fees anyone?).

In 2009....Oby Ezekwesilli, then Minister of Education, tried to get unity schools run as some sort of PPP. We told her to go and rest, that we were too poor to pay fees. Some governors also handed schools back to the mission owners, saying that they did not have the cash to take care of them....and there were street protests.

Schools need money. Many good (not the mushroom ones) private schools provide desks, chairs, etc for their students because fees are sky high (at N100000 and above in some cases). Many government schools...like the Bauchi ones cannot afford desks for their students because funding is low and fees are kept low for the masses.

Nigerians...espeically Bauchi residents....if you want the students to sit down on chairs....you have to find the money for it. Either we all pay 50% of our salary (like the Danes) as tax, or we pay higher school fees , either at primary level. Or we make all universities private, and use the money saved for primary schools. Or we become an industrial society...so that we can earn enough money to have budgets of N20trillion and above....with N5 TRILLION at least for education. Education is not cheap. We have no choice.

Or we stop procreating like bunnies. Our population is presently a liability not an asset because of its poor composition and quality, so we need to cap that until we can raise the bottom line.

iwatch:
The guy is really good. The father tried, unlike Benson Idahosa's family where the grace has left them at the exit of the founder.

Very uncharitable to say that and not an absolutely correct statement but what you can see is the way things should naturally be, what God desired at creation, that when a tree matures and bears fruit, the seed encapsulated has the very nature of the tree and when trees are multiplied this way a desert may become a field and a field a forest where the beasts of the earth may take shelter. To be able to create a legacy you need a vision. To be able to translate a vision into tangibles you need wisdom and knowledge. Grace is the subsidy God provides to accomplish vision through unnatural speed, precision and power, things you need. Grace grows in proportion to the effort you put into gaining wisdom and knowledge. That is why to have a stress free marriage and raise a family without issues whatsoever the parents (the father especially) needs to tow the line of godliness. Bad parenting is the absence of one or more or all of the elements mentioned above and there is no correcting that. So it is not so much of grace leaving but the lack of desire for it that matters. Good or bad families are not by mistake.

Godfullsam:
Number 8 is so true, i usually see the poo that came out from me before flushing it.

Of course. Just to gauge one's health. Purely animal instinct.

lomprico:
Idris only wants to please his boss n appear as a saint but why did u tif 24 vehicles na arase? See yoursef?

Waiting for Kachikwu's edition. He'd better run to Aso Villa. Heard the new head honcho was there today, obviously doing the needful. Corruption can never end in this Nigeria. Someone said it is no longer happening then warrrrrris dis.

Dajugba:
If apc as a party that represent change can't solve internal issues as this, then how do we believe they can bring peace to the nation. This was how pdp started. And we know the end...

Exactly. All I can see is selfish ambition at play on both sides.

hucienda:
To think both senators are members of the same party!

The economy is a mess, yet we see unnecessary puerile drama from all tiers of government - headed by this confused party playing ruling and opposition politics at the same time! What nonsense is all this!

What kind of political party is this APC for fck sake??

Told ya....that they didn't need the PDP as opposition....that they will grow it themselves and the cancer has just begun. When Napoleon had conquered all the lands what happened....when Rome had conquered all the lands what happened....when Ghengis Khan had slaughtered from Europe to the Pacific Ocean what happened next....these empires all turned on themselves. Every hero needs a villain, every strong man needs an adversary, every political party needs opposition so the APC should chose whether they want an external or an internal one. It is my hope that the APC and its numerous members, fans, fanatics and leadership allow the natural course of political opposition to thrive BECAUSE external, political opposition is almost always issue based which is progressive but internal squabbles, opposition is almost always sentimental, purile and destructive. Make una choose. This drama does not help Nigeria in anyway because it is unnecessary. Both sides are wrong in principle.

Remi is wrong becasue she should be fighting for the survival of the institution she represents and not seeking to subject the institution to the whims and caprices of any one individual no matter how influential that person may be. Dino is equally wrong for bringing the institution into disrepute to protect what is fast becoming his personal interests and others who have been proven corrupt. The APC is not doing well.