₦airaland Forum

FreeStuffsNG:
You'll never understand a brilliant Asiwaju Tinubu because he is way above your league and the mediocre leaders you are used to.

The way you are confused and disillusioned was the way his detractors felt on the day he told the Federal Government to hand over the bar beach to him. Pa Obasanjo quickly approved it because they don't understand him. Fast forward, today that Bar beach the FG considered as worthless and its problem unsolvable is now a huge asset owned partially by the Lagos State Government.

If you are in the business of forex speculation, Asiwaju Bola Ahmed Tinubu will let the market forces burn you and send you into penury!

The forex has been floated so if you keep buying the overvalued US dollar at N1200, FG will join others to sell to you and mop your naira over a sustained period of time.

This Federal Government will not borrow money or use our hard earned forex inflow to defend the naira against a us dollar being overvalued on the street. If the madness of the speculators push the overvalued US dollar to N5,000, the FG will sell it to you at same N5000.

You can keep speculating and buying a bubble until naira becomes scarce and FG has achieved its objective of getting the real aggregate demand instead of meeting the fake unpatriotic speculators demand for forex.

Only an insanely unpatriotic citizen will have 100% of his or her expenditure in naira yet go buy an overvalued US dollar for speculation and to crowd out those who genuinely need the forex. Such unwise people deserve to get burnt and sent to penury by the market forces.

Never again will Nigerian Government fall for the insatiable greed of unpatriotic elements. If anyone is insane enough to buy an overvalued currency then such needs no pity.

Forex exchange is now done live and FG is watching everything live now and only the wise understand that the parallel market is a gradually dying tribe if you are wise.

Btw, that's late Chief( Mrs) Nelson in the video, may God bless her soul and continue to be with the family she left behind. She was part of the brilliant team Asiwaju assembled and kept over the decades. If she were alive today, she would probably be the one to manage the Cash transfer to indigent Nigerians and deliver the task excellently. Check my signature for free stuffs!

When you mention "bubble" you fail to understand where the bubble is, right now the bubble is on Naira side, say whatever you think, you can't deny reality playing out before our eyes. Naira will continue on it downward trajectory until Nigeria reduce import of refined products. At that point it will stabilise but if you think that a day will come that Naira will change for 800 dollars, those days are gone. Wake up and face reality and stop hoping on a clueless government to come save you. You are using foreign gadgets procured with USD, subscribing to Internet which equipment where procured with USD, even to produce your oil is heavily reliant on USD and you are calling USD a bubble. Your government printed 22T Naira some same is 22B Naira, the result of the printing are here, the Naira was in a bubble, now the Naira is finding it true value. Emefiele tried after printing to render the papers useless by currency change after lying that Naira was losing value because of school fees form A obligations. Former Effc boss sent out an alert about governors planning to pay nov/Dec 2022 salaries in cash, but people like you jeered on, today the warnings are here, the good thing going on for you guys is that the people that warned you are also being punish by the bad policies. Nigeria will only move forward when past administrations are called for accountability that will help ensure that feature ones don't misbehave as we are seeing now.

Terrible human, probably wanted to kill the wife and replace her with the step daughter. This , abeg nah only bad news u dey cover??

Ttalk:
I thought you read the whole story abi na the part you will use to latch him you extract?

When it comes to the economy I expect many of you who claim to be educated to be objective and push ethnicity and your political affiliation aside because the economy affects everyone.

You import virtually everything and you expect your currency to appreciate against the dollar.

Fuel import constitute a major drain on limited forex and you wonder why the past government could not build a functioning refinery for 22years but screaming to high heaven for someone who spent six months to do the wonders that couldn't be done in the past 22years

I think you are getting the whole economy thing wrong. Nigeria had a choice to make and they took the easy way out. You rightly pointed out importation but we do not have any new import item then previous administrations were not importing, same fuel and consumer goods. Yet the current administration floated Naira, removed subsidy, saved money, reintroduced subsidy, borrowed from multiple sources and yet the economy is in shambles with inflation on a record, this administration even went as far as doctoring employment statistics just to look good and continue their make believe. Mark my words the economic will get worse, the indices are clear, at this point the administration has nothing to defend the naira, I am predicting a free fall of Naira to 1500USD before the end of November. Actions have consequences, one of the consequences of having bad leaders are bad policies that puts the economy in disarray. Nigeria is typical case study.

Taylor94:
You will never see Yarimo and his fellow miscreants on this thread



Most times I get angry because we’ve suffered enough in this country to get sense by force



Yorubas are dragging us backward.
Since this country is not moving forward why can’t all the south south politicians comes together and call for disintegration of this shitt hole


See how Yoruba left Osibanjo and gave us this mad man that pees on his trouser from Abuja to New York

it is wrong to say that the Yorubas are dragging us back, it is an individual thing, is never about tribe or religion but about those who lacked foresight being at the corridors of power. When it comes to squandering Nigeria's wealth, they are all united across religious and tribal line.

ElSudani:
Both of them have criticized the removal based on political expediency rather than the overall development and restructuring of the economy.
Nigeria was unable to sustain the subsidy, there was no money to continue without completely wrecking the economy.
What are your own solutions? What do you think the government should have done?

Do you know that we are still subsidising imported petrol? That negates the much fanfare on subsidy removal. Subsidy removal means that the country will be buying the product plus whatever cost from transport and distribution, but that's not happening. The economic team fail woefully when they made the premature move of subsidy removal without substantial domestic refining thus putting undue pressure on the currency/economy.

At the beginning of the this month, one naira was equal to £1225 but now is £1325. You may be wondering how does that effects you, remember you import virtually 100% of all the cost of production in the only commodity that you take to international market.
We are waiting on Dangote refinery, if Nigeria doesn't start refining before January 2024, £1 will be over 1500 naira, is not prediction, it is mathematics. numbers don't lie.
With those points, I hope I have been able to show you that the Nigerian's current economic situation is as a result of hasty decision. When you are handling a complex project, give in to deep thinking which involves asking simple questions nicely, you will be amazed how much you can accomplish when you ask nicely and politely.

Bintabisiriyu2:
After voting drug kingpin they have started begging for their daily bread.

Please stop: think about what you said, I know you have the capacity to do better.

Is this the reason they started attacking Ebonyi by claiming a wooping 60% of the hawking population in Nigerian is from Ebonyi. Imagine all the hawkers in Kano,kaduna, Abuja and Co. This is nothing but wickedness. Bellittling people rhat are earning an honest living and trying to downplay what ever achievement the state has made.

ElSudani:
If either of them had become president they would have taken the easy route and continued the fuel subsidy and Nigeria would have ended up like Venezuela.

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If you can back up your point with facts that will be appreciated, it is time for Nigerians who are bearing the burden of miscalculated economic policies to think deep before profering opinions on such as this could encourage policy makers to continue in their horrendous path.

I wonder how they carried out this survey, thank God they didn't call them thieves but people doing "low" hard honest jobs. Look yourself and ask yourself this question, am I earning honestly? Does my money making comes at someone's pain and agony? God bless all brothers working honestly for the daily 2k.

If they sack OUK, he will join the " masses " against the judiciary. But Ouk needs to go, so that he can build more bridges from home.

One incident happened in Portharcourt sometime ago, a tanker laden with pms felled close to Oilmill and the road was cordoned off by residents and traffic redirected, all these were done before government stepped in. I will say the high level of hazard awareness and trainings in Phc played a part, an average person in Phc understands basic HSE as opposed to Lagos where you have more like a mix of everything.

Againstallodds:
Expect dollar to dip in the coming days

The reverse is likely to be the case, previously importers of the said commodities source their fx from black market but now can source from CBN, remember CBN are low on FX.

A very bad mix. The woman married her "spiritual son" and transfer ownership of her "earthly" children to him. You lived with a man through four different successful pregnancy cycles without your bride price being paid and you kept quiet, only to play the card when it was convenient for you to do so. Irresponsible children will always bring shame to the family, fake prophet and prophetess.

Raskimonojendor:
Sonala Olumhense, the author of the biased opinion article is an Obidient.

7+ years of Wailing is guaranteed.

The usual tactics, not the message attack the messenger with anything you can come up with.

If Pep hail you finish, is over.

Yobabad:
Tinubu just like other Local Yoruba Muslims miscreants are certificate forgers

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What you said is wrong, you can do better.
¹

This is no longer a joke. It is now internationally certified that Bola Tinubu submitted a forged certificate to Inec. They was a Bola Tinubu that attended and graduated from CSU, but is not the Bola Tinubu the Inec decorated winner of 2023 elections. This is a very wrong signal coming from Nigeria, it effects is better imagined. This real test for Nigeria and Nigerians, we all have to stand with fraud or stand against fraud. They will be no moral authority over fraudsters if BAT continues to parade himself as the President of Nigeria.

TRAPLORD13:
The Nigerian Police force as an institution needs a total overhaul.
Serious legislation needed to reposition and re oriented them for optimal performance.
That is why I am a strong advocate for state police,like it is practiced in the United States o A.

State police may not work, infact the brutality maybe worse. Imagine travelling across States with different police forces if different orientation, na die.

TRAPLORD13:
Police is your friend indeed.
Evil men in n black cloths.
Avoid them at all cost.
X O XAMANI

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Avoid them at all cost, I used to have problems with them until I got a clue from heaven. I travel with chilled drinks in my car, imagine them under hot sun only for you to to greet them 1st, "recongnise" their "authority", politely ask how their day was going and offer them drinks, chilled eva water dey clear road. This inspiration came after a police man threatened to shoot me and labelled me a kidnapper, me that is enjoying life after hard work, what was my offence, he stopped me at a check point and demanded for papers, and I gave it to him "majestically" these guys wasted my precious Monday morning, they accused me of forging tinted permit, I showed him the QR code to scan and confirm, he asked with whose phone, I offered mine, he said I am teaching him his job, after back and fought for over an hour, God send someone to my rescue, he excused me from them, walked far away, and told to avoid this at all cost, I heed to the warning.

So since then, I don't argue with them, most are frustrated, the principal thing on their mind is your money, security is least on their agenda, imagine someone buying his uniform and you expect him to be rational. Lawyers in the house, the era of "I am his lawyer" and police will hold their peace is gone, that's what happen when the head is corrupt.

ican2020:
As usual the king has taken his crown

Lagos tried thanks to wise people from the east

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The sustainability model of Delta State in sports needs to be studied and replicated. Congratulations to the entire team.

This is becoming scarier, we need to urgently as a people decide what we want our future to be, a future full of regrets of missed opportunities and wasteful decisions or that we will look back on and be proud. Everything lies with leadership.

Weaponised poverty. Show your pvc and get cups of rice plus 20cents.

[quote author=Racoon post=126069192][/quote]With the huge glaring evidence of how incompetent the Apc is, I am sure they will still have learned voters in next elections. People doesn't know that votes are decisions and decisions shapes lives. Just imagine how much our currency have lost within Apc short term in power. Apc steal recklessly, and expect the economy to magically improve.

Ttalk:
Is Omokri a journalist

Cashivist, any where wry belle face, he is now doing PR.

Everyone will get a piece of this cake, maybe it will help us amend our ways.

Dear Victor, please fight tactically, you are blessed already, who God has blessed no man can curse, "it is only a tree with ripe fruits that receives stones". African Proverb.

Sound Sultan, "no matter wetin u do no forget Area oooo", Lemfi cashing out seriously maybe more than Cbn. My people dey try, every week, na so them they send money and goods back home, God bless you guys.

Xbobtage:
Naira is now N1005 naira, the blowback from this is yet to come...for an import dependent country, hunger and starvation of biblical proportions are looming.

well.well Since my last post, you have all gotten poorer by more than half. Regardless of what industry you are domiciled in within the nigerian economy. POSTED SO MANY WARNINGS HERE PRIOR TO THE ELECTION, BUT HOW DO YOU REDEEM A NATION ON A CLEAR SUICIDAL PATH? Read to the end, I will proffer my perceived worse case scenarios and perceived solutions to this quagmire we find ourselves in.

Mr, Wales theory of only 6.8 Billion dollars needed is purely subjective. Even if that money is put in the foreign exchange market now, a new deficit will be created in a mere couple of months and we will be right back in the same position.

I have been tracking tracking economies, foreign exchange rate, global policies and Gdp growth for over 20 years now, ONE key thing needed in stability of foreign exchange rate is Perception. Perception itself has even surpassed ;local production in in terms of factors that determine foreign exchange rate since the advent of smart phones and information on the go.

We are a nation of Big Tribes and many smalls ones, Decades ago those in power figured out we have to balance the egos of these three big tribes to have a balanced political, economical and even social environment, The APC regime came in and completely threw us into this satanic tribalistic territory where igbo hating and marginalization is a policy and is barefaced, and we are all going to suffer for it. Here is why

The igbo/igboid people are a majority in nigeria, and might be even more than the yorubas, we can not say for sure without a proper census. (I noticed on wiki the yorubas have gone on to increase their population percent to 20 percent and left the igbo one at 18 percent. although both tribes were listed at 17 percent just three years ago). What we now know for a fact is that the igbos and their sympathizers do have the largest online presence in nigeria, we can tell from the Peter Obi online polls and how he always won with over 80 percent regardless of how it was framed.

If you have these group of aggrieved nigerians on every social platform bashing and dissing nigeria, there is no way our economy or currency can survive that.

My people we have now dived into this electric pond, these is no easy way out. The easiest path would have been allowing an igbo person become president this time when it was rightfully their turn, so that we as can country can heal and build the sense of nationalism that every nationhood needs to survive and build anything on in the long run.

Northerners were ok with the rotation of power to the south, But NO some south westerners refused, they hijacked the election and took the country into this highspeed train off a cliff and that is where we are now. Besides the guy who was elected is someone who has a, should I say God complex or dictatorial complex and that really compounds the situation, a man who felt too big to attend a debate, give an interview and was nominating people to answer a question that was asked to him is a person who believes he is above all and sundry and does not care about the feelings of the masses, and that is the kind of person who would go on to devalue the extremely sensitive naira and remove subsidy at the same time, without meticulously looking at this issue from all corners first, tighten up corrupt lose ends on both sectors before making a policy change. Those of you who voted for the man knew exactly what he was, how are your lives now? It doesnt matter how rich you are as nigerian, you are definitely getting fxcked over and bleeding money if you have nigeria as your main source of income. Not unless you are a corrupt looting politician.

Anyways, our next stop in devaluation is 1500, but honestly there appears to be no end to where we are going because thing with this type of devaluation comes fear and with every deeper devaluation comes an even deeper fear and uncertainty with fuels the next devaluation. And where we are heading to venezuelan and zimbabwean levels of devaluation which brings absolute chaos and crime at extreme levels never before seen, nobody driving a nice car or living in a nice house would feel safe. Well dressed people will be out on the streets begging for food, Mothers will prostitute themselves and their daughters to knowledge of their family. Those who thought they were now big boys on 300k salary will only be able to spend their salary on food and transport. No more tokunbo cars. Those who will survived are those who planned for multiple survivable guaranteed sources of income, minimal monthly cost and rents. I was in zimbabwe at the height of their crisis, this is what was obtainable. Look up videos of venezuela on youtube to get the point.

Here are some of my perceived solutions.
As much as we all know they would hate to, the APC government should be trying to pacify the igbo people by balancing their appointments, an igbo guy should have been Senate president, massage the egos of these people we need them to believe we are in this together. Disown and fire any member of government who makes any perceived hate speech against igbos or pretty much any other tribe, and possible people who make this their means of staying relevant, I mean tribal jingoist like FFK and Omokri. I honestly doubt that this would ease the tribal tension we have now in the country but its not a bad start. Because I see the igbos are being haunted by all these extreme tribalist statements from government officials, for example you can see how the judges at the PEPT sounded, you can clearly hear the words from apc online trolls right from their mouth, Absolutely shocking. Honestly i think pacifying the igbo people at this point may not work, Too much harm has been done, maybe in 4 years tinubu should step aside and let and igbo person take over, but at that point this country would be far too gone in the wilderness.

Option 2 is bend over ass cheeks open and let the french have their way, sign the agreement for ECO to be used as the single currency for ecowas backed by the french and the Euro, they have always wanted to have us under their belt and are partly to be blamed for the political and currency crisis we find ourselves in.. But we are here now in desperate moments and desperate measures are needed.

Option 3 is dollarize the economy. Dollar should be accepted as a means for payment in all sectors and all forms of trading. That is itself is another decision that comes with its own upper cuts.

Shalom!

I like the economic angle of your submission, leave politics of Nigeria and share economics view though they are interwoven. Shalom to you too.

People like Tunde Bakare will throw you under the bus and and be asking you where you got your bruises from. The artist "smoked and drank" with evil men, but you Sir said God anointed you as the 16th President of Nigeria but that didn't happen, is it you or God that is lying? You and your evil friends conspired and took the reins of power only to plunge the nation into poverty while looting her treasures. I wonder between Tunde Bakare and the dead artist who is more befitting of God's Kingdom.