₦airaland Forum

phorget:
God bless AMERICA.

And God protect her, From Sea to Shinning Sea. Land of the Free and Home of the Brave. One nation under God shall never perish.

Tareq1105:
Putin is too proud. When he invaded Ukraine, we thought he would overrun it in one week. What do we have now? It's been 20 months yet he hasn't won.

I told yaa Russia ain't nothing with an economy less than that of Texas not to talk of California. Russia is nothing but a Gas Station in Siberia. Now everybody knows that the Emperor is nothing but a paper tiger. Same thing with China all their military hardware does not work. There is only one country on this planet earth that is a true superpower. Good Ole USA.

fuckingAyaya:
powerful president that couldn't invade small Niger, omo put the crack pipe down

CRACK !!!!! NAH I think this dude is on that fentanyl shit.

alpamo6:
After paying tax, you still pay toll

Partner come to Florida I think every freaking 5 miles there is a toll plaza on the roads in this damm state. This state is like a prostitute you gotta pay to get on and you gotta pay to get off.

This is a sobering recent headline that demands a serious discussion

https://www.vanguardngr.com/2023/10/nigeria-accounts-for-15-out-of-school-children-worldwide-unicef/

seunmsg:
He can get trust worthy people in other parts of the south. This should be a southern presidency and not a Yoruba presidency. Some measure of ethnic balancing in very important in a multiethnic country like Nigeria.

Famous saying by my own former President Obama "Election does have Consequences indeed". Always take care of the people that brought you to the dance first. If any crumbs remain then maybe we can consider them. That is a big maybe okay

Smithkafors:
I thought he was representing a southern ticket?.

Remember next time that election does have consequences. You backed the wrong candidate. Next time edged your bet.

EKONGKING:
More private players are thrown under the bus with no end at sight .
If petrol sold at 550 naira and with lesser demand and still queues are returned ,we are in deep shit .

Buhari has really destroyed Nigeria .

Southern Nigerian politicians follow World Bank and IMF guidelines ,while Northern politicians follow the old soviet guidelines of shutting down borders and other communist ideas etc .

The correct path way is to follow fellow developing Asian countries like India, Indonesia ,Thailand, Vietnam and their development model to at least get to their level .China is too far ahead to even mention in Nigerian context .

India has the biggest refinery in the world and one small city in western India (population of 400,000) has more than refining capacity than Metro Houston which is the worlds energy capital .While India imports 80 percent of crude to process .

But you hardly hear it . The western Media dont want you to hear about it as they want to continue western hegemony or so called rules based orders .
They tried with China during their Rise in 2000s and as China is under single party rule and strict censorship ,that game didnot work out .

Africans exposed to western media and their narrative believe them .

The reason for this long post is Nigerian politicians and economists should stop ass licking western or soviet model of development and start focusing on ASIAN model . The whole world economy is shifting gradually to Asia .

We need to learn lessons from China ,India ,Indonesia, Vietnam etc and remix the ASIAN MODEL to African settings for better prosperity .

Partner I was this close to agreeing with you until you started mentioning China. Let us get this straight Capitalism in its purest form is only carried out in one country that I know of and that country is Nigeria. Even good Ole USA still has safety nets when one is done on his or her luck. In Nigeria partner you are all on your own. Capitalism as bad as it may be sometimes has raised more people out of poverty than any other social economics you could come up with

Omodua:
Shame of a Nation!

The only oil producing country without a refinery and importing. Our leaders have brought shame and odium to this country.

What's Mele Kyari doing as NNPC managing director. He is a square peg in a round hole. He lacks managerial ability to Head such a sensitive lifeline organization.

NNPC needs radical shake up. This is the only way it could perform. I don't understand why the oil sector is still spared of radical shake up.

The sector must be sanitized.

Forget about that one. Go and look at the list of individuals that were given oil leases. 80% of the people on that list are from the North. I never knew that Northern people's lineage extends into the South-South. No Equity exists in the country. For clarification I am not from the South South I am a Yoruba from Ijebu Ode but I see things differently. You want to tell me in that whole Country Mele Kyari is the most qualified person to lead such an important organization. Well, progress comes slowly for the first time in memory we finally have a non Northern person leading the Nigeria Port Authority.

Amonijosh1:
why cant we produce petroleum product with all the crude we claim to have in this country
we only sabi share excess crude reserve

I grew up in Nigeria in the late 70's to mid-80s. When I was growing Nigeria was a very beautiful Country lack of electricity wasn't an issue. I attended public school in Ibadan. education wasn't an issue back then. The Northernization of the whole country has been an issue that has plagued that country. Destroy education in a country and you might as well kill off that country. In the North education wasn't all that important but in the south education was considered a stepping stone to prosperity in life. Successive Heads of State from the North never attached any importance to education all one needs to do is go back and look at the list of who they have appointed in their cabinets for education. Now the whole country is falling apart maybe it is time for a divorce. Ask yourself one question why is it that the Northern part of the country seems to by an outlier when it comes to keeping Nigeria in its current form? The South South, South West, South East Middle Belts all calling for something different. Maybe it is because they are the only ones benefiting from the current setup.

GiftedHands47:
Lagos Lagos Lagos


I have no plans visiting other states


From Lagos state to united states'

That's the only state I want to visit after Lagos

Meanwhile contact me to track lost or stolen phones or devices at a reasonable fee

A trial will definitely convince you

Partner if you ever make it this side. Forget New York, go straight to Texas everything is bigger in Texas, and it's a whole other Country. With an economy bigger than Great Britain, and France will do that. Y'all be good now.

richeeyo:
Emeka
Hollywood is a whole city today

$100m for some illusion of grandeur moti gbo o. In a state with crumbling educational schools imagine spending $100m on education, or even on the state's environment. Film is not a priority man mi. It is a freaking waste of funds.

BreconHills:
Precisely

Nigeria is a frontier market not a G7 standard and that means accurate financial information is hard to get. It is also an unsafe country which means high risk. Anyone who knows just a wee amount of investing knows that return and risk are tightly corellated.

So yes widows and pension funds are not coming here. But there are some types of high gearing funds that are. Even within the G7 economies, some portfolio constituents are allocated to high risk.
countries.

Then let's ignore the portfolio investors and let's look at investments in the real sector - again a large undeserved market with a huge informal market represents a good choice for some investors. A friend has just secured $12 million for a healthcare project. A new factory for solar has just opened on the Lekki - Epe expressway. When you see dysfunction, others see opportunity.

And that devalued currency? It is an excellent opportunity to invest. Will the rate be higher than this in two years time, three years time? That's the bet that investors are making. And they are making it. It doesn't have to energy guzzling plants. It can be a guy and his dog - buts investment, its real.

Which city has attracted the largest tech investments in Africa over a three year period? Lagos. Opay $400m series C Flutterwave $250m and there is much more.
As a market matures it yields predictable returns but in frontier markets the fluctuations are huge. And there are specific investors who play this type of market.

I know this doesn't fit the narrative of Japa or political opposition. But it is what it is.

Take a read https://technext24.com/2023/06/19/sub-saharan-africa-early-stage-funding/

I totally agree with your write-up. I am putting some money into Nigeria-oriented index fund with an average return of over 25% as compared to the generic 8% in the broader market who wouldn't. The risk ratio to return is in play here.

WIZGUY69:
Congratulations Oga
Federal lo kan

I am going to bookmark your screen name so as to be able to track your idiocy whenever you freaking make a comment. Giving accolade to a man that doesn't give a rat a** about people and you giving salutation. Lord have mercy

richeeyo:
Another igbo man is pained
Go back to your AfghanEASTan

Okay I repeat the same thing and I am not an Igbo man. Complete waste. Who gives a rat ass for a freaking film city? What the heck is being filmed?

BreconHills:
Don't be ridiculous. What is the ROI on Nigerian assets over so called stable African countries? Outsized. Which stock market is beating NSE returns right now?

Nigerian risk is not for everyone but you would have to be [b]stupid [/b]or uninformed to avoid Nigeria.

Listen to the music not the noise.

People that steal money from Nigeria's coffers always try to put their money in foreign banks, mind you these are the people who actually know the situation within that country very well. So why should I bring my money into that country and invest? I freaking guess ain't that stupid after all. That imaginary ROI you quoting is hogwash, not with an unstable currency exchange. I will let you in on a secret, the new Dangote refinery according to the Bloomberg newsletter that I subscribed to is now scheduled to start producing in the early part of 2025 but
reading Nigeria's newspapers and coming from this current administration they expect Production to start this year in November. How can one make a sound business decision with information like that? In business sound information and Data in gold.

Xscape1993:
This is a good welcome development. Nigeria should be relevant too.

You gotta to make up your mind Do you want capital inflow or not? Ask yourself this simple question average daily income in the country is less than $5 so what income is there to be made in this situation? All that Yiddish (Jewish Language) that the Commissioner is yelling out ain't nothing but gibberish alright.

PoliteActivist:
Lol, that's because you haven't experienced the kind of cold they have in Greenland. There are environments God never intended human beings to live in!

CANADA province of ALBERTA in winter.

BloomingDale:
I keep my ears close to the ground.

In my life, I have dated white (French mostly), Black, and even Caribbean(Dominican, Trinidad, Barbados ) women not once have I ever encountered what you are narrating.

Sonnobax15:

Too many friends.......

I realized too many friends will definitely slow a man down...........

When I look at my circle now and compare it to how it was as at 5 years ago,I realized making so many friends,with all the memories we once had wasn't worth it all.

Partner you only need six friends three on each side of your casket.

BloomingDale:
They have very thin skin so you won’t enjoy it. Nothing to grip your gbola. They do not bathe too. If you think an African woman has smelly kpekus, you go throw up when you smell that white girl kpekus. If you think I’m lying Google whether they bathe or not.

Really !!!! How do you know all this.

OkpaNsukkaisBae:
My spec! Team foreign women.. Europe or Asia is my pick.

Partner come to South Florida, like Miami. After seeing South American women like Brazil or Dominican trust me you will change your spec. I can bet my bank account on this.

justwise:
They can't hide their wealth abroad but that can do that comfortably in Nigeria.

TAXES !!!!!! Get that Average Americans pay an effective tax rate of 28% federal 6% State(Unless you live in one of those tax-free state, but you still pay it back on Property taxes). I paid off my house 6 yrs ago but I still pay $6000 in property taxes every freaking year. I might as well be renting it for $500 per month. Only thing free in this land of milk and honey is the air one breath. That is free because it is even polluted.

tctrills:
We don't have any policy in place to make the naira recover. It's just a continuous free fall. It reminds me of Zimbabwe.

China supports Yuan in the FX market because China knows the importance of maintaining a strong currency. Even the mighty USA does the same thing for the Dollar though rather in an indirect way by maintaining higher yields on the Treasury notes rate thereby inviting other countries to buy her debt with the promise of a higher yield returns. Now comes this Kosi Kosi (kosi owo, kosi ina, kosi food always kosi kosi) country subscribing to whatever USA banks like Chase or Goldman Sachs advocated for by liberalizing the free float of her currency. The same banks mind you selling derivatives shortening the currency thereby creating artificial pressure on the Naira. You can not put a price on stupidity.

BennyDGreat:
Thank you for this enlightenment. Nigerian custom needs serious internal restructuring of her processes.

Ask anyone who buys cars from any USA salvage auction. When you log into the auction website it is the law that each car must have its ACV(Actual Car Value) number and the Estimated repair cost value. The difference between the two numbers should closely match the Reserve value of the car. The Reserve value is the expected value the insurance company thinks the car will sell for. Nigeria Custom need to use the Reserve number in their valuation calculation. It's a very simple process

NSNO:
I don't support Tinubu but floating the naira and removing subsidy was the best thing to do.
Alot of Nigerians don't understand how bad our economy is, they think its just to build roads and start farming etc.
Nigeria's economy needs a complete overhaul and the measures taken yet are just the beginning.
More hardship is on the way but like the saying the darkest hour is just before dawn, Nigeria's dawn is almost here, we just have to endure the darkness a little longer.

Floating Naira and removing Subsidy is not the main problem when it comes to Nigeria port and Custom. The main issue is that Vin's valuation crap. Most of the cars imported into that country are salvage cars and why are they deemed as salvage for the insurance company it is not worth repairing the car anymore. If a car is valued at $7000 and the car has an accident and the repair cost is $4500. With depreciation because of the accident, the car is now worth $4800. Add $4800 to the repair cost now you getting $9300 for a car that originally valued $7000 now you can see why it was marked as salvage. The car goes to the salvage auction maybe it gets sold for $2500, For the insurance company the write-off on the car is 7000 - 2500 = $4500 which they can claim on their taxes as a business cost. Now here comes the Nigeria customs with their Vin valuation based on the initial value of $7000 instead of the $2500 that the car was actually sold for at the auction. I have written and designed so many programs for various Insurance companies. I know the industry very well. Nigeria Custom needs to change how they do valuation and this will resolve this issue.

tolue42:
We don't even have much engineers here in Nigeria, only civil engineers are practicing what they studied due to estates springing up here and there.

I still prefer Engineers from Nigeria compared to those who graduated from the UK. In the UK a plot of land is 60 by 100 why because the freaking place is an Island they are limited by land size. Come to Nigeria they impose the same bull crab 60 by 100 policy now you have houses sitting upon houses making it hard for air circulation. Everything over there is based on that British piece of crap policies. Lord knows I hate that British accent. Don't get me started on that C of O for 99 years thing. In good Ole USA you buy land, get the land deed that land is yours forever I mean for freaking eveeeeer

With me it was an easy call. After my graduation from the University Of Michigan in Ann Arbor, with a Degree in Electronics Engineering. I was working for General Motors as a System Analyst and the company decided to send me back to school for my Master I met this Igbo man from Imo State in one of my classes that man gave me the best advice of my life. "Remember money will always give you the woman you want, but your struggle will give you the woman you need" . When I met my now wife, I was working as a security Guard while at the same time trying to get my Undergraduate degree. Close to 33 years later happily married to my wife blessed with two grown-up boys, both living on their own with their own families. I am living the best part of my life in South Florida in good health and of sound mind. I say it again not bad for a guy from Ijebu Ode who grew up in Ibadan and attended Ebenezer Primary School Oke Ado in Ibadan.

DrAda:
I get bored easily. I have unique thoughts on aliens, life, Christianity etc which I can't express fully because many may think that I am weird or worse mad.

THINK !!! nah I know you are

jrusky:
Really? So have you ever seen any sane country with no foreign investors?

That is why I called you a Marxist motherfucker.

Why should a Foreign investor come and put money in Nigeria? Consider this

None of the top officials embezzling public money in that country ever put their ill-gotten money into developing the country, they all run abroad and pack their money overseas. Apparently, they must know something regarding that country that I who reside abroad don't know.

zeyt:
Nigeria should ditch the dollar like what other countries did.

Which countries are those, please? Even China secured 80% of her trade surplus in Dollars. China and Japan buy 60% of US Treasury debts they can't afford to go to war with the USA because they stand to lose out on their money. Look for the past 15yrs the USA has been living off free money interest rate was close to zero on the debt. Individuals putting money in a savings account were getting a 1% yield on their savings. Now fast forward to today, the Federal Reserve has increased interest to 5% individual are now getting close to 5% on their savings the 30-year mortgage rate is 7.5% why all of a sudden change, it all boils down to supporting the dollar.