₦airaland Forum

wirinet:
It's doesn't work with the Chinese. Many countries have tried that and it had always failed. Why? Because the Chinese government resort to "dumping". They reduce (subsidise)the price of their product to meet whatever tariff you place. The Chinese strategy is econonics of scale. They make profit from shear scale of production instead of price mark up on individual items. They have excellent infrastructure, very low interest rate and strict government control, its very difficult for even US and Europe to compete.

wirinet:
You obviously are not in the real (productive) business. Probably you are an admin person. I have undertaken many productive businesses. Steel (and recently plastics) is the backbone any industrialisation. countries use steel bans and tarrif as an effective weapon in a diplomatic or economic war. Nigeria's industrialisation was stalled because of the failure of Ajaokuta and Delta steel industries. Nations without steel deposits import from other countries.

Kennedyli:
Devaluation or not? Banks are businesses and have shareholders to satisfy. How would theuy gix the rate if the naira isn't stable?
Or are you suggesting the government fund personal loans, mortgages and others? When above 80%of Nigeria's revenue is going for debt servicing. Which money will government use to fix electricity, roads, and others? You guys should be realistic with your projections. You fell for buhari and here you are projecting the same unattainable talking points.

Saintinoo:
For you to develop the manufacturering sector, you must develop the power and mining sector. Where will the manufacturers get raw materials from. Ask innoson how much has spend on steel, Dangote how much he spends to get lime stone. These raw materials should be made available and easy to get by manufacturers.

And about China, those guys are having a field day because the government is corrupt.

wirinet:
With diesel at 900/litre, horrible roads and multiple taxation - both legal and illegal? Remember the SMEs will have to compete in terms of price and quality with SMEs in China, Vietnam and India.

Kennedyli:
Yea. It's easy to compare Nigeria that is suffering from massive currency devaluation to the U.S.

Interest rate in U.s and u.k is below 10%. Is your bank giving loans less than 25%? Think banker.

PHOTSEE:
You just made me laughed in your first and second assumptions. Coming to the bolded

Do you thing it is only, employee, entrepreneurship (small bussines) and big corporation can be a source of income to the masses, what happens to investment as a source of income, oh the capital market does not matter! But we have the elite at the realms (such as damgota) using it for capital sourcing for their various project, being issued to the public (mass). When you talk about finance i expect you to face it squarely.

PHOTSEE:
And who told you that this current administration of buhari never implimented your so called credit polices rolling but what was the outcome?
What do you thing lead to the private loaning company holding sway in Nigeria if not for the fisical policy of buhari ,where your so call government and cbn failed.

You talk of inflation and you want free money in circulation. How is this possible, no production , no manufacturing industries , no sources of employment, inshort productivity.

I know your have had about money flight by great investors.

Af0nja:
Lol I'll pass again. Your debate is based on hate and frustration.

Af0nja:
Nnewi in Anambra has the highest number of millionaires concentrated within a location in any part of West Africa.

You're campaigning for Tinubu and denying it , lol I will not go far.

You're not interested in facts, I'll pass.

hayoholla:
He has not said anything meaningful here What they ask of him, is the plan to turn the fortunes of the country economy around. Its in a functioning economy atleast, we will talk about this, not this economy where the minimum wage of works is not even upto 100dollars. Tell me how will such citizens apply and pay up for mortgages. The purchasing power of the citizens is low, because of high inflation, and you're here talking of credit score. . That's how they decieve you with phantom promises.

PHOTSEE:
You better talk more about who you know and leave the anoint one ,out of you banter. Because we are Obidient.

PHOTSEE:
How do you now get the money you give to the bank? You have to be credited worthy first before you can access such infrastructure.
Are you paid per hourly , do you have choice of career , jobs with good pay, not when majority of the working class youth are contract staff.
Combining the nigeria factor into consideration of not paying back loans.

They have borrowed from china, now they want to sale you off by being indebted to them.

We dont need cars, because there is no good road to ply them. Which will lead to conjustion.

Af0nja:
Yes there's a way that ensures just circulation of money whereby a significant number of the citizens are lifted from poverty and above poverty index.

The 30k I used for 4m is just an instance. My point is, if you don't raise incomes to consolidate the reality of the domestic market/consumers, you'll end up having corruption as people will seek other means to sustain their life.

Because, credit is useless when the credit strength is weak.

The capitalist countries you're talking about have an economy that is more than 100 times that of Nigeria, how are you going to build an ant's house with an elephant model?

Jagaban is smarter than you, he read the words from a paper so it was obviously scripted. Peter Obi speaks from his own brain.


I hope I have added some truths to your clarification.

Af0nja:
Sounds progressive!!! But how do we migrate to a credit economy without further crashing the Naira??

Such sophisticated economy is perfect for us as a country if only we have proper circulation of money to all the different societal classes.(which can only work when the employment security is stable)

How long will it take you to pay 4 million naira when minimum wage is 30k??

For instance, we know that there's a huge difference between the rich and lower classes, will a credit economy succeed in a country that 80% of it's wealth is in the hands of 10% of the population.

Kudos to Jagaban though, that's true insight. We can't get that from Atiku.

aviara:
Credit system works better in a highly industrialized system with high productive capacity. Imagine everyone buying Innoson cars on credit how will he run the business and pay staff salary.

Besides, credit is not just given anyhow, you have to be credit worthy to access credit.

Felicity001:
Yeah, I have one 05 C200 kompressor going for 2.8m but full cash would be ready by next month else would've gone for it.

Our leaders wants us to be the thieves that they're else how do they expect an ordinary citizen of this country to afford a 2017/2022 cars. Let's not even talk about the mechanic and parts aspect

GuyWise101:
Nna mehnnnnnnnnnnnnnnnnnnnnnnnnnnnn

And thiefnibu imbeciles were rejoicing

Itsrm:
There are other spotless cars or near spotless cars without outrageous prices. That's why he struggles to sell pretty much every vehicle he advertises.

Itsrm:
It's a terrible situation to be in.

If the vehicle was for sale and he had cleared it, na to begin type available, available like hubcruz till 2027.

Who will use 5m to buy a 2004 c240 when you can add 1m and buy a 2012 C300/350.

Wasky101:
Chairman, I don suffer for Mercedes hand in recent times.
My 06 e350 made a funny clinking sound one morning stopped abruptly on the road and never started again( after series of diagnosis was advised to change engine as it is not rebuild able)
Bought a c230 07 for re sale, run and drive good milage, no accident history) loss was recorded as " other" on the auction site.
Vehicle came in and wont start, it actually came in with no oil in it, put some oil and they it came on but wldnt run smooth and reported all cylinder misfire. Had to eventually change the engine after no solution.
Works fine now and no error code.
I don suffer my brother.
Ohh I forgot to say I cleared the car a 2.3m so now I am stuck with a 5m(cost of landing and repair) 07 c230

jamesversion:
Take aook at the pix. The seller has put the car for sale at $9,100 (which is still open to bidding).

$9100 + $2100(shipping cost)= $11,200

11,200× 610(exchange rate) = N6,893,000

Then max to clear the car from Port is N1M

Total cost is N7,893,000

Now they intend to sell for N31M

Imagine such greed!!!

jamesversion:
How much is this used car sold in the US that it has to be 31M.

Go to cars.com and you'd see that this car is sold for less than $12,000.

You people should fear God.

Mindlog:
Naive?

The prosecution said he left the Ekweremadus and slept rough for 2 days (I believe you know what that means) before he found his way to the police station.

The Ekweremadus' defense team would have to prove he was actually physically with the Ekweremadus during those days he claimed he slept rough.

I am here in the UK and I know very well that I am calling the police immediately once I notice the person under my care is no where to be found around me....me whey sabi report.

Mindlog:
Which conspiratorial nefarious group?

The UK police and the UK judicial system is so unlike Nigeria's, the facts will be established.

First things first, is compatibility between the donor and Ekweremadu's daughter ought not to have been established before any traveling arrangement?

Did the Ekweremadus report to the UK police when the donor left their care?