₦airaland Forum

naptu2:
One of my recently acquired toys!

repoman007 is trying to get my attention. Can you imagine that?

Being part of a cult that uses blood of relation to pay for privilege or power doesn't qualify as wisdom or smartness. I would have considered same and be a privileged troll who gets others b****d.
Lwkmoa...

If done cost effectively, it should serve to expose the inflation going on in public service.

naptu2:
Nigeria was not swimming in wealth 25 years ago. Nigeria has not swam in wealth since 1982 (that's 42 years ago).

...but billionaire with suite case companies keep emerging.

porthouse7:
obi is not the president ok

what is obi?

The ability to mee rulers for discussions is now such a big deal that warrants celebration. APC agents are shameless clowns.

A drop in an ocean. What next after this?

seunmsg:
Hopefully, Mr. President can attract the much needed investment in the oil sector to help increase our daily crude oil production.

Mr APC Agent, I don't think Qatar qualifies as a nation capable of developing our oil sector or investing in it. They have theirs and look forward to advanced partners developing theirs for them. I see no wisdom in heading to Qatat for such.
What happened to $14Bn from India?

Where is the Navy and Army when you need them most?

The talk of a coup is now so rife. Igboho threatening the owners of Nigeria and the lack of control is really getting to these Fulani cliques.

The current generation appear to "know book" more than Jesus. Jesus said when you give, do it as quietly as possible. In our perverse wisdom, we turn giving into show off contest and tracking mechanism for the who-is-who in the church gathering like it is a secret society.
So because an important member is mourning, pastor cannot rejoice again? The most important member is now the most materially endowed and not the most spiritually endowed. They should leave private affair alone and move on with God's work abegi.

Lagos is like ludo compared to Abuja which is chess..
No time to waste time.
He is not a good leader but benefited from sound minds around in the past.

madridguy:
God sent palliative..

dollar don come N1500, BMC man don resume im work.
Congrats.

Better than none. Half bread.

Whatever improves the profit margin for handlers.

Acidosis:
Nigeria needs FDIs ke? I thought the economic clowns like Reno and the Uncommon Sense Senator said that we should patronise only Nigerian companies?

reno doesn't ronu at all. FDI is different from importation of finished goods. Can local companies do it all? The clown is more concerned about shaking tables.

amnesty7:
Dickerman, from their names you shall know them: the serpents who want to see Nigerians in utter suffering. God pass una!

Is like you need brain amnesty.

The man is speaking undiluted and unpackaged truth.

We appointed accountant to do the work of conscious economist. A builder of waste place.

Rice N500
Suya N500.

Quarter balanced diet.

Fair. That's how it is suppose to be. People are not trying to keep things down but in a hurry to escalate thinking more money is always good.

Seezion:
May God help us, the common citizens.

Where did this happen pls?

grandstar:
Nobody sabotaged the economy except the CBN governor who printed lots of new money and operated a loose monetary policy in the face of h8gh inflation.

Bad workman blames his tools, but in this case, others.

has Tinubu not been printing his?
He also admonished Buhari to print so what's the point trying to blame someone who followed what he advised unbeknownst to him?

In an interview in early February, Cardoso had revealed that about $2.4bn of the $7bn foreign exchange backlog he met when he got into office were from non-existing entities, and requests without import documents among other infractions.

“We discovered that of the roughly $7bn, about $2.4bn had issues. We believed that they had no business being there. The infractions ranged from so many things. For example, not having valid import documents and in some cases entities that did not exist and in some cases, account parties who had asked for foreign exchange and got more than they asked for and some that didn’t even ask for any and got. There were a whole load of infractions there,” he said.

Many forex demands that can't be backed with import documents or capital flight claims. As much as 2.4 out of 7.0

charlsecy:
I thought too many sellers ought to lead to lower prices due to competition?

after lower prices have come, hunger inspires unionism and they start regulating supply and prices.

In another news from LIB thieves now go for food and leave gadgets alone. Akpu banditry was birthed under the so-called builder of our commercial capital.

Armed robbers invaded a woman's house in Mosagar community in Ethiope West Local Government Area of Delta state and stole beverages, raw and cooked food including pots of stew and soup.

Nigerian activist, Comrade Israel Joe, who disclosed this in a Facebook post said the incident happened on Wednesday night, February 28, 2024.

According to Mr. Joe, the robbers didn't take any of her valuables including phones and laptop.

“There was robbery in Mosagar, Delta State yesterday at about 8:13pm. The robbers broke into the woman's house and ordered her to lie down. It wasn't clear of they were carrying guns but she clearly said three of the boys entered into her house,” he wrote.

They left her phones and her laptop. They dispossessed and emptied her kitchen, carting away with almost half bag of rice, her cooked food, including the soup and stew in her refrigerator.

They packed up a little beverage in her fridge and one of them drank one can coke in her present before they left.

This is where we have gotten to, at the moment, young men robbíng people of their food. As they narrated the ordeal to me, I felt deeply sad.

4Play:
This argument, that Nigeria is exceptional and so standard or "textbook" economic theories don't work in Nigeria is an often trotted out claim that has only served to justify some of the most bone-headed policies you will ever see.

Nigeria is not exceptional when it comes to the understanding that if central bank interest rates are way below the rate of inflation, the rate of inflation cannot be curtailed. If these people disagree, please give us examples of where significant and protracted high inflation was resolved without raising rates.

Of course, businesses need low interest rates. But if consumers are suffering from inflation and the currency is losing value, businesses are not going to invest. Where were the business investments when rates were lower?

In this environment, if I run a business and you lend me money at low interest rates, the best returns I can make would be gained by finding a way to convert my money into dollars and waiting a few years for naira to lose value to the dollar and I can pay back the naira denominated loan.

The reality is that low interest rates makes it very profitable to swap naira for dollars. If you are a saver in naira, your savings lose value and is not offset by the interest rates you get on your savings. You cannot stimulate your economy out of an inflation crisis.

I also agree that increasing rates is not enough as you need to curtail government spending growth which I think is a key driver of inflation in Nigeria. The thinking, as with low interest rates, that you can stimulate growth through government spending which we have seen implemented since 2015 has always been flawed. The late economist, Rudi Dornbusch, touched on this in relation to Latin America:



https://www.nber.org/books-and-chapters/macroeconomics-populism-latin-america

Don't claim that Nigeria is exceptional.

Have you worked in banking sector or interacted with those who have concerning the borrowing pattern? You are merely exploring textbook probabilities further with more assumptions. Most loans are by civil servants. Few businesses use loans and we don't have the privilege of low interest consumer credit loans. When people flood their accounts with saving because of better returns, who will the banks loan those funds to? Is it the worker who can barely feed? Or businesses that are about to close down due to slow patronage?

PastorOlokonla:
Dude is an illiterate. Its a good policy and will affect people like Adenuga who imports indian workers into Conoil and Glo.

which is better, to import 100 technically sound foreigners that will keep five thousand Nigerian on their toes and jobs or to handover your toil to people with civil service mentality who will bring the company down?
We even need more foreigners. Look at peseiro. He gets less than $50k a month but brought us over $5m. That's a good example.

Spiritual warfare is more severe than physical warfare I guess, otherwise it should be the other way round.

It is common knowledge the army are loyal to Fulani big men and even provide cover for them when committing crimes. They do that in the north to minorities Christians settlements and in the south.
They suddenly know a thing or two about territorial integrity when Fulanis are at the receiving end.

The man just manage to gather four thousand, and they ended his life with bullet of approx. four thousand naira.

Ola9ja23:
Double face

The platform enable saboteurs to cause havoc on our economy

can you prove the saboteurs were sponsored or commissioned by the binance team?
We all know FG is surviving on printed cash and needs Osusu from anywhere. They tried borrowing from dead Nigerians but it failed, they tried nonsense with MTN and I collapsed. They have seen a rich nation-less entity they can squeeze so let them squeeze them in peace.