₦airaland Forum

Thormentor:
Why are you scared? lol are you an Agbado balablue APC supporter? defenders of Buhari and now Tinubu?

helinues:
Toh

If Kenya government had withdrawn the finance bill, why are there youths still protesting?

More destructions of government properties mean more ways to embezzle more money

seunmsg:
We need to turn the AU to a monetary union just like the EU. A single currency will solve a lot of the problem in Africa. The lack of forex thereby leading to an unstable local exchange rate is the bane of the current economic problems all over the continent. We rely too much on dollars for everything and it is not helping our local economy. African leaders should develop the balls and ditch the dollar. With a single currency, trade among African country will increase significantly and this will have a significant effect on the local economy of the continent. Shocks from weak economies can also be spread within the continent.

0001Lagos:
Nigerians deserve the kind of wicked leaders that they get

If obaseki in Edo state can pay N70,000, why can't Ogun, Lagos, Osun, Ondo, Oyo, Imo pay 70k?

Useless fools parading themselves as governors

PinkNature:
This guy is done with school.

https://www.youtube.com/watch?v=MrZJgIso0wE?si=CKwbM0anwJroH5Vw

Kenya's debt profile is burdening them.
It was triggered by unchecked borrowing in the last decade.
Their creditors include World Bank, IMF, AFDB, and most importantly, China.
Unforeseen circumstances like Covid pandemic and Ukraine-Russia war also contributed to shocks that unsettled their economy.
11.2 Trillion Kenyan Shilling($85billion dollars at current rates) is owed by Kenya to both internal and external creditors.
That is about 68% of the Kenyan GDP and well above recommended debt level for nations, putting them well at the brink of debt default. This has led to raising of tax locally by the govt.
The big issue is the external part of the loans. It was borrowed in US dollar and so when the Kenyan shilling lost value last year, that led to a rise in loan value of the about $13B that was incurred in additional loans in the last year, 76% of that was down to local currency weakening.
The real issue of concern for the Ruto govt is that they have around $500m to pay each of IMF and WB in the next 18 months as well as $2Bn to china which is not known for flexibility of repayment rescheduling with defaulters.
That is the real reason for the forceful attitude of Ruto govt towards tax increases.

The last fact raises a big question of what the loans were used for. Why tax the people for repayment?

Nigeria can learn a lot from the happenings in Kenya as like Kenya, we have reached borrowing limits, and have to do whatever pleases our lenders to secure emergency loans just to patch things up.

VeeVeeMyLuv:
They value human beings there. Human development index of United Kingdom is very high @ 0.931

For Nigeria, the HDI has shown a 22% increase in 19 years but remains low at 0.548 , categorizing the country as having low human development. The report emphasizes Nigeria's significant loss in HDI due to inequality, estimated at 32.7%.

Thank you

OZIOGU1:
It does not matter please, these two are the reason we are where we are today in Nigeria (religion and ethnicity)

GloriousGbola:
i googled uses of wheat. and all i can find is wheat is primarily used for making flour

so the question is - what would they have been cultivating wheat for, and why has that food not survived to this day?

all our staple meals from crops we cultivated in the past are still around.

so if we cultivated wheat, whatever we cultivated it for should still be with us to this day

GloriousGbola:
unless there is evidence of baking 1200 years ago, i call bs on the claims of wheat