₦airaland Forum

Validated:
This is the contribution of a Nigerian Professor.

When I really doubted what some of these professors in Nigeria acclaimed certificates was during the Ebola period when professors of science,microbiology,virology etc,were also advocating that drinking salt water would eradicate the Ebola virus.
Then during the covid period,professor Iwu,another professor of a biological science discipline claimed he had invented a corona virus vaccine within just a month or so that could effectively eradicate the disease.No test on neither on efficacy,safety,not even on rats,talkless of humans.Of course,no sane person took him serious.

If they like they can arrest all the trucks but so long as naira continues its free fall,there will always be the incentive to smuggle not just cement but rice and other items across the border,

how does this improve the naira and reduce the price of rice and cement in the market

Dont know if this is the famed genesis or we are still in introduction, preamble or overview.

Nation,propaganda arm of failed Emilokan doing overdrive propaganda.
Banks are inducing customers,yet dollar has moved from ₦1600 just yesterday to ₦1618 today,from ₦1500 less than a week ago

Are you trying to launder his image with this cheap attempt after he had been accused of not just being being a hypocrite,but an ethnic bigot,by not coming out to even admit that at best tinubu is struggling badly,but demonstrated openly when lesser struggles happened during GEJ's time?

Funny enough I am seeing the hand of God in this
This is because BAT is just being exposed and disgraced not just as being grossly incompetent,but for being hypocritical because same subsidy he rallied against GEJ,claimed does not exist,but is not only going behind the back to pay,after having stupidly floated the ₦ at the same time,but is now paying at least double what other presidents ever paid.
Who says God doesn't exist indeed!

It's sporadic but it has started.
Unless the people are in chains,no normal set of people can tolerate what babablu is doing without reacting.
It's looking like a joke now,but soon it may spiral out of control if something drastic to improve things is not done.
Bablubu is just like that student that went and crammed a chapter of a text in preparation for an exam having got an expo for the exam.
As expected,the question came out as it was leaked to him and he poured it out verbatim.
But there was an addendum or compulsory extra question that was also set and as expected he didn't understand it and therefore couldn't write any answer because he only poured out what he crammed.To pass the exam however,the addendum had to be answered in addition to the main question.
He stared at it and left it blank till his paper was collected.

nairalanda1:
True, but on the other hand, making fuel cheap is one of the reasons why we have a huge debt profile, and issues with raising income right now.

All those countries you mentoned also pay high taxes and have diversified economies, which is why they can to some extent afford subsides, and even then fuel can be expensive (UK even puts tax on top of the thing).

Nigeria does not even earn enough from taxes to fund a subsidy adequately. OIl money is not enough. The corruption that our leaders do is even awful, and shows insensitivty self.

Yet, no matter what we do, neither we nor any of the countries can do anything about the cost of fuel.

Oga,stop looking at fuel price in isolation.
A gallon of fuel(4litres,$3.5) is about 0.25% of the average American,Westerner or Chinese income.In Nigeria it is 4% or 20 times what those people pay compared to income!
If the Nigerian is earning 1 million instead of 100k,he can afford to buy fuel at market reflective 6000-8000/galore and meet up with other basic needs

Obi is just too good to have lost the election.
He maynot have turned things alright overnight,but his accountability,honesty and dedication is what we have been lacking since 1999 and looking at the nightmare we face today,I feel like shedding tears what Obi is doing and what this country would have been today with just his first year in power.
Even their acclaimed scam of integrity,Buhari didn't come this close to being honest and transparent,before,during and after he lost all the elections he did,before his corrupt deeds and scam was exposed for all to see during his reign.

nairalanda1:
The way the government is going, they would force him to sell that low.

Nigerians want cheap fuel.

Rather Nigerians cannot afford market reflective fuel price.No Nation can afford market reflective fuel price if as a middle class earner with a car,you have to use half of your salary to just fill your tank that would last you for just a week or as a minimum wage earner your salary,untouched cannot transport you through half of the month to your place of work.
The American cannot afford it,the Japanese,German,Chinese and English cannot yesterday,today and tomorrow.
The issue is that our earning/purchasing power of the average Nigerian is not just low,but is unsurvivable on.

alezzy13:
Nothing really new. As far back as Sept last year, the likes of Bismarck clearly showed some sort of subsidy was still being payed.

So what's the problem? Should he totally remove subsidy?

He would have no economy to operate and no country to govern.
He shouldn't have removed the initial subsidy and devalued the naira at the same time with that worst inaugural address.
See why I say he has boxed himself and Nigeria into a cul-de-sac with his s tupidity:
He removes subsidy again because of the Naira free fall and watch fuel go to 1500 and rises as naira falls and watch a total collapse of whatever is left of the economy;
Or he continues paying subsidy again and watch as it becomes unsustainable and also collapses the economy if the Naira is not strictly controlled.
The third viable option is for him to resign and let his deputy take over and get fresh eyes and perspective on the situation.It maynot be a total change but Emilokan has lost the trust,confidence of majority of Nigerians,to do anything positive,so his deputy taking over will,if for nothing,give a faint belief that things may change with new ideas and policy prescriptions.
It's like the bounce that usually comes when a new football manager takes over from a failed,sacked one.

jaxxy:
This government lacks basic economics 101 or dey are confused.

If subsidy has been removed petrol prices shouldn't be static bt fluctuate up and down based on market forces..

As it stands fuel price should be close to 1000 naira per litre.

Actually with ₦ at 1550/$ fuel price should be hovering around 1350-1400 today depending on where you reside in Nigeria.
I would advice Dangote should have his personal physician travelling with him at all times with essential drugs and life saving equipment because the man may develop a heart attack if he is forced to sell at 650.It would essentially cripple not just the refinery but his entire business empire because to repay back $30b when you are running at a loss,can be suicidal.

A failure will ever be a failure.
Tinubu should not be allowed to complete his 4 years.He would benefit only those that want Nigeria to be divided because his government will only cause mass uprising due to mass starvation,insecurity,suicides and deaths.
He had no capacity yesterday,he has none today and definitely won't have one tomorrow as his ancestors gradually and surely call him

The fraudster is paying subsidy through the backdoor,as I schooled some people but he doesn't want to admit it because his 2 singular policies has destroyed the Nigerian economy and as expected he is now clueless on how to wriggle out of the cul-de-sac he has put Nigeria in.
So long ₦ continues its free fall fuel without subsidy would be increasing in price.
At ₦1500/$,fuel should be selling at nothing less than 1350/litre then I will see if our docility will still endure

A great tribulation has beset the land.
Nigerians that are one of the most religious people on earth should all know we have all sinned and come short of the glory of God,so he unleashed a plague,first with termites(Buhari),when we refused to change our ways and learn from the mistake of Buhari,he unleashed scorpions,Tinubu.
We must learn the hard way.
Some are still seeing food to even eat,soon getting clean water to drink will be a luxury and we shall all be looking at the skies,praying and fasting for rain to fall so that we can collect in buckets from roof ceilings.
He built Lagos,he built Lagos;as if it wasn't the same Lagos he left with filth everyone,same Lagos that virtually all roads were unmotorable,same Lagos that Oshodi was so dirty and repulsive the whole state and nigeria celebrated when Fashola turned it around.
Same Lagos he didn't add a single pipe borne water,but instead made the then few functional ones in Apapa gra and other places dysfunctional and borehole installation became the norm.
Same state Tinubu institutionalised agberos and touts.
This is a man that used Salami,then appeal court chief judge to overturn elections and return his puppets as governors in the courts.
GEJ had evidence but he was too weak he refused to take decisive action on Salami.
How can a man whose whole life has been a criminal enterprise stretching from drugs to goverment embezzlement and judicial corruption be expected to be any sort of redeemer?
Clowns!

IAMBOSS1990:
Oga what's the difference with what you did and what armed robbers and kidnappers are doing?

So you believe him?
The tenant has no one to look after the shop in his absence?
Who leaves a market shop open for a landlord to be selling for him and who does the offloading and onloading?
It's as if you haven't bought cement before to believe this poorly concocted tale.

When people like us post,people should read and learn.
I posted same.
The Emilokan being empty has put himself in a corner.
Oponu removing subsidy and devaluing the Naira at the same time!Even a monkey won't do that.

I wouldn't call what Tinubu did on his inaugural address as lack of respect.
I would rather call it the action of a mentally unstable human being.
All other things the Sheik said about Tinubu are the the whole truth.
What he also said about the chronic docility of Nigerians is another bitter truth.
If I were a well to do or prominent person in Nigeria that is not directly affected by Tinubu's policies,I would not even bother calling out Tinubu or Nigerians.
If Nigerians despite this unprecedented level of suffering can not come out enmasse to say enough is enough,them you allow them to continue in their suffering.

JAMO84:
Nigeria is evolving, when the evolution is advanced or completed, we can enjoy the results.

Evolving to darkness.
The dimwit removed fuel subsidy without thought then devalued the Naira,based on his short sighted idea of those being the magic wand to set nigeria to an Eldorado.
But due to his devaluation of the Naira that has now gone into free fall as everyone that has some sense and is a good student of history knows,now they are back to paying subsidy through the backyard,so as to hide their dumbness and shame.
If you doubt subsidy is still being paid:in October last year landing cost of petrol with exchange rate of about ₦800/$ was ₦720.Then fuel was still sold at 650-670.
In 2024,dollar has been at least ₦1300,but petrol is still being sold @₦650.What magic formula are they using to keep fuel at ₦650 when naira has depreciated by about 60% since the known landing cost of 720 last year?
The formula is subsidy but they feel ashamed to admit so because babablu has now boxed himself to a dead end:truly remove the subsidy caused by further Naira free fall and see fuel sell for 1200-1300 or keep it and continue paying while lying that you are on tract on your pronouncements.

If the subsidy had been removed and the Naira was defended,things wouldn't have been this horrible.
Tinubu is empty.
He is a sawdust filled brain man with nothing to offer because you can't give what you don't have.
Any monkey can remove subsidy and devalue the Naira.
It's what you do before,during and after, knowing the ripple effect of those policies that should distinguish you from the monkey.
Tinubu has not proved he has a brain better than that of an ordinary monkey,if at all he has anything in it.

How does one eat egg with tuwo and oil!
Gosh!!

Evangelistdisu:
This is beginning to look like a joke

Someone that has called off strike 3 times despite the government not meeting any of it's demands,someone that wanted to travel for medical treatment abroad over a small wound he had in Imo state and someone that went to the climate conference as part of a jumbo government delegation,does he appear like a serious person to you.
Ajaero is a clown and I am sure behind him people will be laughing their heads off anytime he talks or appears on TV.

Jamestown123:
You dey talk like mumu. Talking like you know everything. Calling people stupid because you think you knows what you are talking about, but alas, you are the stupid one here. Vietnam dong for instance, is useless,[b] 1 dollar is 24,500 dong. But still, Vietnam is 64% cheaper than the united state[/b]s. You think is because of exchange rate things are getting harder and harder?

You ended up making a mighty,heavy f ool of yourself.
Of course things would be far cheaper if you are using dollar to buy stuff.
Infact using dollar conversion rate,things are still extremely cheap in Nigeria and prices should still go up.
Secondly,minimum wage in Vietnam is almost $200=₦300,000!
Minimum wage in Nigeria is ₦30k!!
So if a Nigerian is paid 300k as minimum wage,he/she would be living in comfort with the current price of things.
I can therefore see that you are not only dumb,but confused at the same time and don't know anything about the topic you delved into.

advanceDNA:

They don't know how important exchange rate is....they think countries that ensure their exchange rate is low are stupid.... Oman and Kuwait use their foreign earnings on crude oil to hedge their currency to be on the same level as pounds/dollar so that imported goods can be fairly affordable....

It's only in Nigeria that we have clowns for rulers think they can embezzle their foreign and local earnings but floating the currency and remove all subsidy will automatically fix the economy seamlessly...

Infact the thing is tiring.
The other day,one dindirin was saying if Nigeria can grow our foods,then things would be cheaper,that's it's because we import most of the food we eat that prices are high.
I now cited yam,garri, beans, plantain,infact all unprocessed,agricultural foods we eat,including rice are grown in Nigeria,so why hasn't made them cheaper?
Infact the difference in price of 50kg imported and local rice is about 2-3k!Despite the fact you have to pay duty on imported rice,transport it through ship from abroad,paying export duty at country of origin,then import duty and custom charges in Nigeria,then still transport it in costly trucks from seaport to warehouses.
Yet you only buy a big bag at just 3k difference!!
It's the exchange rate,stupid.
Nigerians are even still relatively enjoying.By the time the true foreign exchange reflective price for fuel is used and fuel sells for 1000-1200 is when they will know if they would continue starving to death in silence or take the bulls by the horns and depose this corrupt, incompetent,satanic government.

This is getting annoying and irritating at the same time.
Nigeria has rice meals.
Then even if we had 100000 rice meals,you think rice will now become 30k or even 50k?
So long as the naira remains devalued and continues plummeting,so long will price of not just rice,,but every other item sold in Nigeria,produced here or imported be high!
Let me give you another practical example;Dangote and the pH may soon start production and make Nigeria self sufficient in fuel;you think then fuel will sell for less than 650?
Infact,fuel price will likely reach 800-900 when these refineries come on stream because they will tell you that the production cost is high due to the exchange rate and even at that,that if fuel is sold at less than the 700,800 or whatever,it will be smuggled to other African countries because it's will be cheaper for them due to our badtardized naira

Prigidypogodo:
Mukina2 is in charge of that
seems Seun reshuffled his cabinet

To what end.
It's obvious Seun realised some time ago he could monetise nairaland by drawing in adverts.
Most people only read posts on FrontPage and live football threads have always been a good attraction for viewers.
So why now tuck it somewhere in the sports section where only sports enthusiasts visit,and infrequently at that.

I have noticed a trend wherein PL and even some other football matches are no longer posted on the front page.
Businesswise, and traffic wise it's senseless.
Unlike Seun doesn't like advertisers again,then he has to call his mods to order.
Arsenal west ham match is supposed to be on front page,ditto other matches played yesterday.
Seun,what is happening?

Daily trust is being disengenous;the economy did not nose dive in 10years.The economy crashed in just 8months of Tinubu's reign due to his sawdust filled brain.
This is an old man that has been in goverment for at least 40 years,and has witnessed goverment policies for at least 60 years of his adult life,yet does not have the brain to know that his policy framework,not just the timing was doomed from day one.
In claiming 10 years,they intentionally want to rope in Jonathan.
What doomed the GEJ presidency was corruption and how it was made to look horrible.The corruption under Buhari and Tinubu have made the corruption under GEJ look like low grade yahoo yahoo.
His advisors had the foresight to want to remove subsidy then,when the opposition became massive,capable of plunging the country into instability and economic doom,he backtracked and instead raised it by a small amount.
GEJ never contemplated floating the ₦ because everyone knew the catastrophe it would cause.
Today we have at best a sawdust brain filled,former drug baron and corrupt warlord who removed subsidy and devalued the naira at the same time!
You don't need to even have done economics in secondary school to know that doing that is akin to removing fuel subsidy then still putting a heavy tax on the removed subsidy.
So you invariably caused the economy to go into free fall.
We want to cling onto hope,but the 2 policies by babablu have doomed Nigeria,there is neither hope not any miracle that would turn things around.
The only way is to print more Naira and start sharing to everyone!