₦airaland Forum

jaxxy:
Are we still paying subsidy or not?

You have the evidence, aren't you?

Give us the evidence and answer your question.

eeithis:
trust me if not for oseni and co this dollar for done still dey where em dey?

So na that poor and vile analyst called Oseni paid the $7b withheld fund, curtailed black market local and international speculators and na him dey give Cardoso clue for the effective and targeted policies rolled out.

Sometimes, some of you don't deserve response for your unintelligent comments. Ha! So pathetic.

mrvitalis:
Lol 😂😂😂 which school u go abeg?

...and how old are you?

Inspirer1:
thanks

What I'm watching out for since July is for the inflation to slam the brake. Just a month stagnation. Then Cardoso will smile and I'll smile.
We are close .
Alita continua, Victoria acerta

OboOlora:

Trial and error financial techniques.
Pump $$$ from foreign reserves to save a dying naira so people can applaud you for a week.
Then watch the same $$$ rise in the next month and blame citizens for not buying unavailable local goods.

What is MPR? Oya now! Tell us.
Please, let people who attend day school comment.

Yeye, pumping indeed! How old are you?

Putindbutt:
Where's the pumping?, dummies plenty on this forum.

Seriously! Pumping indeed.

Easybet1:
I bought at 1725 to a dollar. Should I dump it now and accept my loss

Keep it till next year December.

NwekeUG:

https://www.youtube.com/watch?v=OkIUKhNgg04?si=1BuaqRjIC30TeVmB

nlfpmod mukina2

We have it in US stores.

Beautifulday:
Really! Wow. So our degrees are this good?

Yes, it's that good for a serious Nigerian graduates. My experience in US university system.

While we earn, send money home and enjoy rest in US, our colleagues pay huge debt back to settle their school loan.

ogododo:
A former Nigerian President, Chief Olusegun Obasanjo, has urged for the devolution of power and resources from the federal government to state and local governments to better manage available resources and alleviate the ongoing economic crisis.


Obasanjo attributed the crisis to a lack of productivity among Nigerians and mismanagement of resources.



By decentralizing power and resources, he believes that competition at the central level will decrease, allowing for more effective resource management at the local level.

Obasanjo, who was represented by a former Governor of Niger State, Dr Babangida Aliyu, spoke as a guest of honour at the public presentation of the book “Court and Politics,” authored by Dr. Umar Ardo. The book chronicled the first-hand experience of the author in politics and the courts.

According to him, “24 years of practising the presidential system is not enough. The important thing is to devolve power and resources to the states and certain jobs from the federal to state and local governments.”

In his remarks, the Chairman of the committee for the book launch, Alhaji Shehu Musa Gabam, said that Nigeria would continue to have challenges in politics and the electoral process as long as courts continue to base their judgements on technicalities rather than facts of the issues.

Gabam who is also the National Chairman of the Social Democratic Party SDP, noted that part of what brought Nigeria to where it is today is that “we have a body, the Independent National Electoral Commission, empowered by the law to conduct elections, and another arm of government, the Judiciary (Court), that decides on who is elected.”

He urged Nigerians to be united and courageous in telling the authorities to do the right thing, adding that being cowards was not the solution.



https://www.vanguardngr.com/2024/02/economic-crisis-obasanjo-urges-devolution-of-power-resources-to-states/

Why didn't you do it during your eight years tenure?

Destroyer of our democracy.

Baba 3rd term who started legislative colossal corruption with Ghana must go.

He go pay debt when infrastructure is at grand zero.

Pathetic!!!

tctrills:
Are you this childish? Please google many more articles where Tinubu praised the last
administration.
Google many many articles where he
campaigned for Buhari in 2 different elections.
Google articles where he said he would continue from Buhari's good work.
Please open your eyes and grow up.

I'll advice you help your eyes care the speck in it.

I had hope you've the decorum expected of intelligent discussion.

Why do guys result to uncouth language of unlettered?
This depicts that you don't have stamina for intellectual forum.

I don't insult people even if the forum is as faceless and my opinion ias diverse.

Decorum, brother.

I bet you understand what is political economy.
That Buhari jettisoned the campaign promises and equally sidelined party manifesto is enough to go to war with him.

What do you think that'll do to our nation?

Are you of age to understand the effect of Atiku-Obasanjo tussle that almost engulfed us in about 16 years ago?
How that imbroglio put a lasting dent that endure in our national assembly till date.

Rishi has trained UK economy to a recession. Do you see war in his party, despite the promise of robust UK economy, and the fact that he doesn't look like them.

You guys don't have temperament of a nation builder, I will not blame you my brother, many like you are yet plague with boyhood spontaneity.

City Boy is a Democrat.

"Oni'lu o ni fe ki ilu re tu".

tctrills:
But during the 8 years when Buhari was destroying the country, he never spoke up. In fact, he supported and encouraged it.
It's so clear that even if Tinubu is caught in armed robbery you will still support him.

Google some articles written by Tinubu in those 8 years that are policy statement position for the government.

Again, remember how Tinubu was fenced from having audience with government by the Kyaris'. People like you were happy that cabal will eventually jail and show him shege.

casualobserver:
What food did your grandfather eat as a Nigerian? That is the food for the Nigerian poor. We have been spoilt too much and for too long. This is not just for the poor. The middle class that ignored the problems of Nigeria too will be forced to take interest in the problems of Nigeria. When they can no longer afford to send their children abroad to school or to go abroad for medical trips they will be forced to stand up for local education and healthcare which will also benefit the poor. So this is a God send, it is another opportunity for a reset. I hope we don’t miss it because we take political or tribal positions.

The poor need to feel pain, the middle class need to feel pain, the rich need to feel pain, those in power n Ed to feel pain and that pain needs to be so severe that we are so scarred we say never again are we going back to the habits of 1970-2023!

May God bless you.

Some few months ago, we were using Naira to buy Naira and everyone believed there won't be consequences. How can people of a nation trade in their own currency as commodity and be comfortable sleeping with their eyes closed.
I was warning people I know to not do it, pleading.

We are very unpatriotic and recklessness as people.

Happy we have this president.

casualobserver:
I am not goin to argue with you minions. You change your habits or nothing changes. I am old enough to have gone through many economic upheavals in this country, I have seen the entire Naira devaluation from beginning to now. We endure difficulties, we don’t change our habits and we push the problems a few years down the road, rinse repeat.

If the masses are not ready to change their habits, fine but the problem will not go away. Buhari for instance did not want to inflisct pain so he tried to postpone the inevitable, in the end he only created a bigger problem. Imported rice and bread are not foods of the poor.


Every government in the world changes habits of its people through pricing because that’s the language people understand. In the UK it may shock you that the UK makes more money from oil that we who produce the oil ( yes I know they have their own). They control parking via taxes, they control driving habits via fines. This is how all countries operate. They want you to drive electric vehicles they make it too expensive for you to drive a petrol or diesel powered car.

If you want to stop the masses from a habit of making their staples dependent on imported rice and wheat, you have to make bread and imported rice so expensive that it either 1) forces people to choose locally grown foods or 2) cause such a price increase that it is cheaper to grow and produce wheat or rice in Nigeria.


What I can gather from the responses of many Nigerians is that they are not ready for a great country. It’s just that one shares a country with you people. The British, the Americans, the Germans the Russians etc take pride in products produced in their countries. It takes a lot for citizens of these countries to buy foreign products when they have local alternatives. The Nigerian brain however feels it is ok to damage his own economy and export jobs abroad through his consumption habits and blame government the the resultant problem.

I will not forgive Tinubu if he backs down on these reforms, as it is I am unhappy he has reintroduced subsidy, we all need to rest our brains and as the wild animals that we seem to be, it is only pain that will cause that reset. I don’t know when i. Lasisi and Chinedu’s ancestry that imported rice and bread from imported wheat became your staple food……nonsense!!!!1

I'm really proud sharing a country with you.

Tinubu will not back down on these reforms, be sure.

The same Nigerias abroad pay every fines and bills on time as at when due. They start life of recklessness as soon as they land at the Nigerian airports.

We behave as we like without waiting on the consequences of our actions

I understand now that we have been getting the leadership we deserve.

On the issue of the subsidy coming back, the government opt for a brilliant strategies that balance her book. It's still a win as we stand.

If speculators wish, let them ride the exchange rate to #2000/$. We are in this together.

I was happy when the CBN sold the fx released to the market at #1490/$. We ride this together.

This strategies is also helping the government to mop up the excess liquidity and forcing the dollars stored by these saboteurs out of their closet.

Harmic995:
This forum ehhn! I swear Genius full here. Bro na Talk u Talk.

Why are people not adding recklessness of baba 3rd term mismanagement of petrol dollars, paying debts while the nation infrastructure was in ruins.

nony43:
Yet your first class Atlantic Ocean tamer, builder of Lagos can not tame and build Nigerian economy.

You don't know the once upon a time in Lagos, my brother.

This is how the builder of Lagos started the journey.

By the end of the month, the City Boy is commissioning "The Red Line".

Please don't sleep in order not to miss the action.

Jagaban has just begun.

Tflex01:
Hahaha 😂😂😂

How old are you?

You shouldn't have asked about his age.

You should be able to guess, Sir.

Simply tell him to go read the history of Nigeria first coup and fallout of Nigeria progressive economies and humongous corruption of the kakhi boys.

Nigerian military destroy this country till this day.

They gave us wobbled-militocratic constitution and installed kakhi-tocratic president in 1999.

The kakhi-tocratic president, laid a foundation of "do-or-die" politics in this 3rd republic.

Who went on to induce national assembly with jamboree pays-corruption as we see in our politics today-for 3rd term agenda.

Orubebe01:
50 kg bag of rice is now 70,000
Bag of cement is now between 12,000/15,000
Price of medicine have all gone up
Naira is now worthless
Companies are closing down because of high cost of production.
Unemployment rate is on the increase.
Price of goods and services increasing astronomically.
Citizens finding it hard to feed.
School fees are on the increase.

My question now is, are you still Batified?
Are you still standing on his mandate?

Solidly Batified.

No retreat on the reforms.

Three of the top 5 world leading economies went through what we are experiencing at the moment in Nigeria in the last 60 years.

Japan, Germany and China journey to economic miracles pulled through this same junctions we are in.

"E bin pa wa" in togetherness.

No pain, No gain.

Thanks Jagaban for this strong head.
The last man standing.

Victoria Acerta.

Borrow222:
Shut up.

You guys will keep on supporting junkies while the country is going down.

I don't even understand what is wrong with you fools.

Tinubu supported all Buhari bad policies for 8yrs and now you animals are saying we should blame Buhari.

Fools.

Which of your country is going down?

When previous government were printing and borrowing money to pay salary and support subsidy while some of us were shouting, no be politics you guys dey use am play.

When one clueless president take money go pay debt, we dey cry say a country without visible infrastructure dey use her scarce resources pay debt instead of building infrastructure to support economic growth and create prosperity for the country.

Now subsidy on oil is gone and gone forever, subsidy for people of dollars is also gone forever, monetary and fiscal reform is going forward and never gone be in reverse.

Really happy we have stubborn reformer, continue the protest instead of going to farm to cultivate cassava and earn foreign currency from cassava starch, cassava flour, garri, sorbitol and more.

Read about the sacrifice China, Korea, Taiwan, Singapore, Malaysia, Ireland and others go through to reform for prosperity, you will know what's up.

Every nation go through the sacrifice. Instead of putting on our thinking cap, we blame and come to social media as emergence economist.

We die here together for better nation.

Thanks Jagaban, we all suffer this together and reap the benefit together.

Junior1212:
Well this forum is still here, in the next 6-8 months we will see how far, I told some people few months earlier when subsidy was removed and till now nothing to show for it only hardship. Govt is rich, banks are rich but the common Nigerian s can't feel it, to me it's useless. It's so unfortunate majority of those money from subsidy is used to finance government. I still refused to accept there's any policy that can help without government creating an enabling environment for investors and empowering Nigerian s to start up businesses, factories etc, at least let's start with us producing what we can consume after sometime we will be big enough to export. If the govt is serious they should do this, shutting down BDC will create more scarcity because CBN and banks cannot meet with the demand now, floating or devaluing naira when we don't have goods and services to give out, any attempt to discourage remittance from diaspora would be disastrous I think it's the only supply of forex now ( which is poor for Nigeria as the giant of Africa). It's so unfortunate no policy has been implemented intelligently so far, I think we should go and prepare for more hardship and suffering. In Economics matter there's no magic, voodoo or prayers.

Patriot, you are a fine Nigerian. So soothing engaging someone like, you are a sincere and truthful individual.

This hardship is expected and it will endure for a while if we will speak the truth to ourselves.
Nigerians don't deserve unproductive and too cheap living despite our to do ability and productive population.

Our economy with huge subsidy, debt and over 50trillion naira liquidity of printed money with meager productivity is bound to collapse in totality if this needed surgery is not done.

Again, federal government has huge debt of 30billion owed to the CBN. This trajectory would've sank us by now as the previous governments was printing money to pay salary and for government businesses.

All these liquidity must be cleaned up for healthy fiscal and monetary policies implementation.
This is exactly what the CBN is doing as of now.

Meaning, CBN is not advancing credit to the government for now, no sharing of dividends by bank and no subsidy for the citizens to clean up the mess.

On the BDC, you know BDC is not printing money and the bulk of the money that BDC hold is from the CBN. CBN is the source of all foreign currency that BDC hold.

Try understand this, bro. If you as a diaspora Nigerian send dollar to family from US. Nigerian banks get wire money, not physical dollars but physical dollars was advanced to your family member by the Nigerian bank.

A staff of the bank gave a BDC number to call to your family member. The BDC operator collected the physical dollar from your family member and gave him Naira equivalent at speculative price that he feels favors himself not your family member.

Remember, the dollar you sent never leave the US but wire instructions to pay. Who then find the physical dollars to pay your family member? Yeah! You are right. "The CBN".

Mind you, CBN can't print dollars, he has to earn it from the sale of crude oil and export from other hardworking Nigerians that bring 8n foreign currency.

Why do we have to pay the diaspora remittances in dollar that didn't get to Nigeria, which eventually get into speculative market of BDC that put pressures on you and me. So the need to pay in Naira.

This policies will bring in more dollars because the market is uncapped, bank can sell as they feel it makes good profit margin to them in willing buyer and willing seller transactions.

Junior1212:
As far as I am concerned BDC is not the problem here, if there is enough dollars in banks and they sell at cheap rate for who ever needs it for international trade, education or any other reason who will patronise BDC, BDC has been existing for years how come they are the problem now, because 10-15 years ago the supply side of dollars was higher then, the BDC are only taking advantage because the supply side at the macro level is low. The only speculative purpose I see as bad here are those keeping dollars in their houses, or safe outside the banking system, dollars in the dorm account is still in the system like the naira u keep in your account. The banks can use it for Normal banking functions. The problem is the supply side which is weak. And govt must work on it to solve the problem, any other solution is trial and error and am 100 percent sure it will fail, this forum is here and in the next six months I will come back and show you the damages this trial and error policies has caused.

My brother, be sure this is not trial and error. This is one of many other policies still on the way to take hold of monetary and fiscal control of the Nigerian economy.

It has never work in the past, all along it has been a window dressing by previous governments. The reason Nigerians poor population has been rising.

We have population, productive one at that, but our output is weak and our population will no doubt live life far from quality and poorer household will forever emerge.

With some of the policies, Nigeria banks are getting richer, government is getting while economic saboteurs are taking the real heat and pounding.

No doubt, Nigerians purchasing power is fast diminishing because of the subsidy removal from both ends of oil and currency devaluation.

Where are the money saved from the subsidy at both ends? The truth is that the Nigerian banks are soooo rich now and so is the government.

CBN has halted banks from sharing any dividends at this time, and the reason government is cautioning from pumping the huge savings into the economy by way of palliative and wage increase is to not worsening the already problem of excess local currency liquidity that chase few dollars.

The CBN is currently doing a lot mopping up this liquidity, because we have so much Naira chasing few dollars that Nigerians are unproductively statching away.

I expect with time that government will set a minimum wage that is above 100,000 naira and introduce robust consumer credit program, to set out a consumer driven economy that will spur productivity and drive employment for our teeming youthful population.

Junior1212:
Any policy that will help production and export, one thing the govt don't know is that Nigerian s must demand for dollars, almost 200,000 Nigerian s left Nigeria since the past two years to study abroad, none left Nigeria with less than 10k pounds, I don't want to talk about the figures of those for medical treatment or importers who import raw materials and even those selling finished goods. I have seen all the policies implemented so far all has brought more hardship and dollars is almost 1500, and a lot of Nigerian s are applauding them. Tax exemption for any entrepreneur and producer, Govt loans, electricity, security. If there's is increase in supply speculation will not matter.

Why will government support foreign education of rich Nigerians and few opportuned middle-class at the expense of hundreds of millions of teaming Nigerian poor and middle class.

Are the knowledge acquired by these people repatriated back into the Nigerian economy to make a difference.

Well over 85% of foreign remittances from Nigerians abroad never get to the country and the bill is settled by the CBN from dollars earned from crude oil sales and dollars earning through export-mostly agriculture-from hardworking Nigerian people.

By my study, most of the BDC operators that help people change dollars that was sent to them from their folks abroad were introduced to these people by the Nigerian banks staff. Meaning, most if not all of these dollars find their ways to the black market that gives speculators the strength to wrestled the control of monetary policies from the government. We are talking about billions dollars here.

These policies affect me as individuals because I earn in dollars and spend in Nigeria but I don't care because I'm just an individual, and the goal here is robust economy for our nation.

ogawisdom:
Keeping and holding USD for over 90 days should be banned for domiciliary account and any fintech company. We need policies to discourage USD speculations.

Nigerians are their own problem, how can you dollarize your economy with excess local currency liquidity and expect your currency not to nosedive.

If oil subsidy and dollar subsidy was not removed, Nigeria can never pace the road to industrialization and build a robust economy.

Flamemignon1:
Good,the faster the help comes,the lesser your whining

It will come faster than you can fathom when Donald J Trump is elected the next President.

Flamemignon1:
And you are a perfect local purist with free will,go help them then

They are being helped across the globe in order to make them realize they are pandemic.


https://www.youtube.com/watch?v=XoulC-h4yB4?si=Q7caQSXTJnZ2YzSR

The is dialogue in us media, but local man like you want to feel inclusive anytime west launch any campaign good or bad. Civilized international sympathizer, anything from the West to you is civilization.

Streett:
You don’t seem to get it yet do Ya’..?

Who created Animals?
Brother,Let’s be logical.. The closest animals sharing 99% of their DNA strands with Humans are the Chimpanzees.
Now do You know Chimps exhibit behavior that can be interpreted as homosexual or bisexual?

Have You ever wondered or ever been curious why Chimps are homosexual or bisexual? God created them, Right?

Now are You Curious Yet as to why they were created that way?
It ain’t like they watch movies or they practice a certain Religion, Right?
But Yet these Apes are Homosexuals & Bisexuals…

Religion aside , Let’s be logical First

Be curious Bruh, it’s allowed

For the fact that all these claims of these animals sexual behaviors is blatant lies.

Chimpanzee sharing 99% of human DNA strands, Dog share 85% of human, rodent share 88% with human and our galaxy share about 97% of same kind of atoms.

Mind you, chimpanzee has 44 chromosome pair while human has 46, Olive has 46, Nilgai (Asia Antelope) 46, Amphipod crustacean 46.

All these similarities only point to design of origin from a single source.

This doesn't mean that because we have genetic similarity as goat, we should be acting as goat.
As he-goat get mature, he start sharing his mother with his father. After climbing his mother, he gets to his mature sisters and other siblings,right on that same spot, enjoying his sexual fantasy.

We have gift of free will and much more elevated intelligence, we shouldn't debase our race.

We are Human Race.

Streett:
You don’t seem to get it yet do Ya’..?

Who created Animals?
Brother,Let’s be logical.. The closest animals sharing 99% of their DNA strands with Humans are the Chimpanzees.
Now do You know Chimps exhibit behavior that can be interpreted as homosexual or bisexual?

Have You ever wondered or ever been curious why Chimps are homosexual or bisexual? God created them, Right?

Now are You Curious Yet as to why they were created that way?
It ain’t like they watch movies or they practice a certain Religion, Right?
But Yet these Apes are Homosexuals & Bisexuals…

Religion aside , Let’s be logical First

Be curious Bruh, it’s allowed

That's the problem with people that use half-baked knowledge in discussing as salient issue as this. This is blatant lies and fabrications that has been debunked here and there.

When I studied philosophy in Nigeria in my undergraduate at the University of Ibadan, I had thought that philosophy was about not believing in the existence of God, and the arrogance usually displayed in class by my lecturer, ridiculing/bullying people of faith. This made me hate philosophy with passion, the course I managed to pass scoring 40%, this is significant because UI started cgpa with my set.

My academy journey in the west brought me face to face with philosophy once again, my enemy.
After two months in that class, it became one of my best subject that I looked forward to.

The young professor exposed us to loads of books written by Christian and Muslim philosophers with jaw-dropping and scholastic arguments that refuted all claims made by philosophers that claimed God is non-existence.

My UI philosopher lecturer imposed his believe in class with little or no relevant reference to arguments from opposing side, same is what plague you regarding lies of Chimpanzee being homosexual.

May be you may not know that in some animal kingdom, if you exhibit some strange behavior in their community that defile their culture, the offender will be banished or sentence to ...

Streett:
You’re straying far from the discussion Brother, You’re making this a ‘Religious’ conversation now..

If You’re gon’ get all Religious with this conversation then perhaps I’ll let You have your way and stop right here,
it’s been fun so far though G

Even, common sense at play here?

What will become a community exclusively made
up of these so called sexual corrupt people after 120 years?

You will no doubt answer in affirmation " extinction".

Again, the same west that was against polygamy, with law criminalizing it but the same set of morally corrupt people come around with laws in support of sexual enjoyment through shithole/filthyholes. This is pathetic! ...and people are supporting this because they want to be counted civilized, educated and accommodating.

They are the same set of people that sees no wrong having sex with animals if the animals consented, they are the people that start public sex through comics sex books, then blue films and now internet pornograhy which has the largest following in web-surfing.

Because they find delight is exploring the limit of sexual fantasy, it dragged them to this state-an abyss. They have explored all sexual fantasy and this is the last straw.

We really don't know that this filthy way has debased human to that level below the ranks of animals-we are worse than them at the moment of our existence.

This is the worst of sexual fantasy that humankind will ever engage in.

Royalagro:
Fyah go burn all of Una, follow follow,dey follow oyibo enta fyah, e no go beta for everyone against the natural way of Life

Don't mind them, brainless fellowship. They follow people whose moral compass is malfunctioning. They are deluded by technology advancement and wealth of the superpower that sustain this campaign across the glode.

Streett:
Bruh, We Straight folks disturb the public too with our sexual filth one way or the other …
Same shixt right there applies to some Gay folks too

There are decent Gay Folks & There are decent Straight folks , And as well we got dirty corrupt minded Straight & Gay fellas lurking in the corner too.. shiit ain’t one sided , It swings both ways!


The matta large

My brother, there are good kidnappers and excellent bandits as well, unh? Be deceiving yourself, I live in the west and can't imagine what is in the future, if this bullying campaign is sustained.

Streett:
God created all, Including Animals… Now, Are You aware of homosexual animals/l & plants …?

What’s Your take on that Brother ..

Liar, you are ignorant no doubt. You mean all those unfounded research being sponsored by some superpowers and the sympathizer of these filthy-human to misguide people like you.

Their lies have since been exposed. All animals and plants are created in pairs.

How many of your domestic animals are filthy-animal, that act like this filthy people?

Let start our research from that which we can relate with, you're being bullied by their technologies
and wealth.