₦airaland Forum

Bullet #50
Riffle #150
Nylon bag #100


I can relate and even achieve that with #100.

Belial06:
The person who wrote this tis suffer tremendously in this life

lol.
It is just a way to twist reality but may not be a lie.

Living cost though has risen, is still cheap, but extreme poverty means people can't afford enough still. That points to overall poor performance of the economy.

If I say food stuff is cheapest in my area but hardly sells, and the people are always hungry, then it probably means poverty is so rife in that area. They just showed a small part of the whole picture that sound good in isolation but not in reality.

Yet they spend over 60% of income on feeding and are one of the most malnourished. This is a shameful statistics when placed in context.

Since our refineries have been dormant, how many workers have we laid off?
The difference between private and public run businesses.

SmartPolician:
Keep quiet! If you don't know someone, ask questions or read about him.

I don't need any questions about someone who built a dormant airport with scarce money and left industries struggling. To prove his incompetence beyond reasonable doubt, he has been condemning and condemning since he got his new job. Just tell us the man is one of yours and let the world rest from your bigotry

His only plan to look competent is by condemning his predecessors and rubbishing their works. This one has nothing to offer o.
Same story from new looters.

MrPOTUS:



Yoruba Muslims, una well done o.

We told you fools that Osinbanjo was better, you animals called him Judas.

Enjoy your messiah o.

Hope your quality of life has improved since this vegetable came to power.

The man did not have bullion vans with which he could buy poor graduates with to start defending and laundering his image. The highest bidder won the hearts of the aggressive few who in turn enthroned him. That's Nigerian politics for you yet we insult ourselves and say rtjings like relationships are poverty alleviation programs when even politics and governance isn't spared.

From family to open society, na so.

bjdon:
Dangote is going to sell refined products in Dollars, so his refinery will not do anything to improve the strength of the niara

It will do something that will strengthen the naira. The demand for dollar will drop because dollar that's is currently being used to import petrol diesel and kerosene will be no longer be needed to import them. That means even Dangote sells for N1500 a litre, the naira will gain against dollar.

grandstar:
"It's costly - it doesn't come without a price, but it's a price worth paying."

Yes, it is costly but the price is worth paying.

The price will either be a downturn in the economy or an outright recession.

There might also be need for balance of payment support due to an empty foreign reserve.

Most importantly, Tinubu needs to stop being like Recep Tayyip Erdoğan of Turkey and let the Central Bank actually do its job.

Key to strong Naira is not with CBN. That assumption is rife and only God knows the spell the world is under that brought about that.
Demand for, and supply of dollar can be combated with a 2-in-1 approach of local production only. Those printing of money and rate adjustment gimmicks are merely cosmetic approach to deep rooted issues.

Seun:
Before Tinubu the official market was practically nonexistent. Nobody could access forex. Floating isn't the problem. It's demand and supply.

You sound sympathetic to Tinubu's govt oga Seun. Maybe because you supported during polls sha but what you are saying is not adding up.
The official market was existent before Tinubu. Before the banks stopped intl transactions, people could buy on aliexpress and ebay with their debit card and get charged around N460/USD. As the admin of Buhari wound up, it became harder to get dollar for obvious reasons.

If you say demand and supply is the issue, demand is ever there but supply is the real issue and not "demand and supply" as one. Demand is made worse by the excess Naira in circulation. They printed under Tinubu in addition to what they printed under emefiele. That means more naira is available to buy fewer dollar and forex generally.

In conclusion, you may want to read up how Germany experienced inflation and their currency was exchanging at trillions to a dollar at some point. It is a similar problem we are facing but in far lesser extent for now.

Barbaric at best.

nairalanda1:
Exactly

But we all want free money so that we can have our cheap imports...so the CBN does practicies that are bad

But no, people will come here and call him IMF man, and start telling us the long stories of how the IMF wrecked this and that economy.

The harsh truth is, we are in the mess we are in because WE rely on ONE SOURCE OF INCOME, whose prices fluctuate, and as a result the income is never guaranteed, and never enough, so we have to take LOANS, AND MORE LOANS.

That's how we enter the IMF trap.



That's a major way we fund subsidy over the decades...see above.

Stop replying to your imaginations oga nairalanda.

Non one wants free stuff but fair production conditions. Give me dollar same rate Dangote is getting it or pilgrims are getting theirs.
Give us competitive power and industrial working conditions. Take corruption away. Stop kidnap of workers and industrialists. They said it is subsidy they want us to remove, yet they reintroduced the damn thing again. You substitute imports with local production and not just handing off from subsidy, were is locally produced petrol, even if at N1000 a litre?

Keep sounding like IMF BMC all you care, you produce or you beg, that the law of international economics.

Burob:
Because it is not you & your people that spoilt Nigeria, it is Tinubu you are blaming.

The economist spoke in principle, don't introduce tribal division in order to derail and take away the heat from your principal.

The possibility is there for Naira to bounce back to around N700 a dollar but I believe it is tied to Dangote refinery firing.

That's the only major import substitution we are about to witness that can spur the Naira on. No other means in sight. Harvest has come and for the first time in history, food prices barely crashed. Too much money in the system means people are using the new found wealth to stock up from hinterlands and selling at massive profit that hides the crash in prices.

Before our N100 a post agents arrive to blame emefiele for printing money, remember, Tinubu once suggested to Buhari we print money during the covid crisis.

OMEGA009:
Still waiting for an economist to explain why we have a parallel market

simple, CBN can not meet all forex needs and wish the rates were lower for Naira. Private individuals who have it in limited quantity offer to sell at higher prices than CBN's artificially low rates, as times goes and demand surges, the selling rates rises according the dictates of demand-prices-supply forces. You don't fix the price of what you do not own. In the case of petrol, they could fix prices, because they bought from importers then resold to masses at lower rates.

3seriez:
Emefiele did not know Jack. Man was just using our economy for some trial and error economics.

The man who took it from N450 to N770 in 4 month is a genius, don't mind uncle meffy.

True.

At the height of German inflation after WWI, the Mark was exchanging for billions to a single dollar. You could order a cup of coffee, finish it and by the time you oder an extra one, it has gone up from 15,000 Marks to 20,000 Marks.

Winning123:
Floating of Naira is not the issue. The issue is that we were not selling enough oil to earn dollars due to stealing in the Niger Delta for many months. At some point we were only producing 800 thousand barrel per day instead of 1.7m barrel per day. All the useless Obi people don't know anything. Obi is lucky he did not win. This is not the best of time to be president of Nigeria. However I know we will pull through

The first lie will always need 99 others to support it.
Is that why subsidy is also back, low crude oil output?
What about floating of Naira, only for two higher rates to emerge?

Sanwo-olu is trying don't believe lies.

FreeStuffsNG:
Asiwaju Tinubu is yet to even take control of CBN so calm down. His choice of CBN Governor and Deputy Governors just assumed office yesterday and today facing the Senate

shebi subsidy is gone for good. Good seem be making was for subsidy o?

masseratti:
sorry i don't discuss with political jobbers. My concern is the economy not your ApC /PDP/LP in my book they are all the Same. Emefiele was at the head of CBN when those debts were made question should be what is it for?Buhari and the then minister of finance should also answer that.

and it was under emefiele the foreign industries rejected letters of credit abi? Daft party agent.
Emefiele helped the daura lanky general secure loans to inspire turnaround but he built village infrastructures all over katsina and shared the rest. Is that emefiele's fault. The anchor borrowers scheme emefiele was involved in was a resounding success even the world bank and IMF will be envious of. Face those who are there and blame them accordingly, useless partisan schemer

Kukutente23:
Hit the ground into a landmine

I asked Zombies when they were singing hosanna in the early days of this regime what exactly the plan was. I remember one of them saying Tinubu has done what no other president before him could do by removing subsidy. I told the guy subsidy removal was a means and not an end itself. It's the effects that determines if it was successful or not. The Tinubu govt simply hopped on the bandwagon of Western financial institutions by removing subsidy and devaluing naira on the first day in office. It shows poor managerial skill. Basic management requires that you do a SWOT analysis on your first day in office and not policy implementation. The thinking was FDI will rush into the country immediately the policies were implemented to circumvent the effects but that has not happened and we all know why.
Secondly, Jesus said a demon cannot cast out another demon. I want to add that both will instead learn to live together. Tinubu is attempting to solve Nigeria's structural problems without looking to tackle the corruption that's at the base of it. It's a big issue he needs to own up to. He might end up losing friends but he can't really achieve much or anything at all, if he is having sacred cows. Those cows are never satisfied. As long as they are around, he'll neve get anything out of them.
Lastly, the posturing of this govt is looking more like that of a wasteful one with the retinue of aides and appointees, the largest in our history. This in a time we claim to be broke. The West are usually very critical of such wastefulness. But besides that, the main challenge is how to ensure productivity. Most of those appointees don't even have offices as we speak. Yet they will draw salaries and other perks while loafing around Abuja. It's a disaster really

The book of books, the Holy bible relates a concept of power drunkenness and derailment via the symbol of wine(spirit). Most of our leaders are taken over by this zeal to politick their way through issues. Tinubu is extremely plaqued by this disease. He took subsidy away and saw it as some sort of trophy or end.
The British man will say "when you hold a hammer, every object around begin to look like a nail". With years of politicking experience in Lagos and a supreme feeling, uncle Bola thought being able to suppress a massive protest after subsidy removal was a huge goal. He has been consumed by politics and sees suppression of reactions as huge achievements without bothering to address what's bringing the reactions. He is the one secretly reintroducing what he boasted about removing. The joke is no longer on the voiceless masses.

masseratti:
Shut down the official I & Ẹ window they won't hear... The naira is not floating freely if there is still an official window, ppl will take advantage of it and the Naira will fall further. Now we don't have foreign reserve to block the fall, now our CBN first time in history is falling to meet it's obligation, if you know what this means in economics terms, abeg if you get money to buy good for 6months and keep non perishable foods Pls do. If they don't manage the issue well.. We will definitely be another Greece, Zimbabwe or Argentina.
Scrap the official rate let everyone buy and sell at the autonomous /parallel /aboki rate.. That's the only way we can reset the economy. No other magic under the sum can help us now.. Emeifile really messed things up I swear.

You are very unstable. You are still blaming emefiele after your paymaster took the rates from less than 800 to 1000 Naira in 4 months.
They also spoil and tried unspoiling the system with a petrol subsidy removal and reintroduction while not being able to prosecute anyone anywhere for any wrongdoing. Even GEJ, the APC acclaimed clueless one, brought people to book with a toothless EFCC and Judi-Judi Judiciary.

Keep singing the stupid song they paid you and your likes to be singing.

TemplarLandry:
A billionaire is speaking you're saying you have an opinion.

I am sure that was how you agreed to work for BMC. A billionaire spoke to you.

youngrichnigga:
Asoro se bi ohun to olorun o lowo di, a a dun se bi ohun to oluwa to se tan. I earnestly pray Nigeria will not sink with the captain (APC) of our now rudderless ship

Are you truly richer than Dangote or it is the one selling sugar cane in wheelbarrow you are talking about?

Subsidy is back and the old wailing tune is back. Earnings go up and govt panics again because they decided to be paying corrupt people.

For every N10 paid as tax, only N1-N2 gets used at most.

For this reason, people avoid paying tax.

Jedidiah241:
Boss! How many 100kg bags make up 1 tonne of sesame seeds?

1000kg is one tonne. So 10 bags it is.

A policy reverser? This Reno needs to be sat down and fed pap.

Tonnierichy:
I understand what you are saying, but saying that the amount being spent on education is enough? Cm'n that's a joke right? It is common knowledge that are our learning institutions are being largely underfunded.

This is not to say the VCs and their accomplises are not guilty as charged but the funding is still far from being enough. Even the lecturers are poorly paid.

On the flip side, I do think the government need to take the pressure off Universities by rejuvenating our technical institutions, and even build more ultra modern such institutions.

Everyone wanna attend a University when they could turn out better if they attend a technical school, where they can teach them to hone their natural skills.

If we can achieve this, it'll help every stakeholder a lot better. The whole thing get as e be.

You made strong points but so did the person you replied to. It is not up to a month now we read how a BDC operator was fingered in scheme where VCs of federal institutions were paying N2m each to I think senate or reps.

Tonnierichy:
This is serious

Y'all asked for better education, well it starts from here. Once you start paying the huge amounts, they'll be able to put lots of things in place. Get used to it.

All these cheap education that only attract insult from you people when you travel overseas is enough. It's time to face world class realities.

I hope world class realities and fee is matched with world class justice when lecturer asks girl to "see me in the office"?