₦airaland Forum

Soccrates:
Just say you want to use style to tell us you have hammered.

11 million is barely “hammered “

PerfectStranger:
Was staring at her fat a$$ the whole time lol.

Shit is crazy, this generation is scr*wed. That’s what you get when you try to privatize a public property.

Man of culture.
Drops morally bankrupt comment, then goes on to complain about about our generations lack of morals.

We don’t want

djon78:
But still the only Yoruba man to have ruled Nigeria three good times. So much for feather weight man

What does that have to do with anything? I said Obasanjo has no political clout, being he cant give anybody votes. He became President the first time as a military man because his Boss died. Then as a civilian, he was voted by the North and SS/SE mainly, He lost in Yorubaland. How can a man so unpopular among his own people bring any extra votes for Obi? Or is it from the North or SS/SE that voted him in before he will bring Obi votes? I don’t like engaging in stupid arguments abeg, it’s draining. Unless you like to deceive yourself, my point here is crystal clear. If Obasanjo runs for LG chairman in Ogun today, he will lose woefully.

hotwax:
yes obasanjo is worthless...but how come APC were boasting about him supporting Tinubu last week after a meeting with tinubu?

koyewa ooo

Your answer is right there in the post. It was just for optics. You people just want to always confirm your biases all the time. I won’t even reply you further. Even ordinary Gbenga Daniel has more political clout than Obasanjo in Ogun. Obasanjo cannot give anyone votes, he is a former president that is why anyone even bothers to go visit him to take pictures.

CheapHomes1:
you are right, it is amusing because i am wondering why the action of a man who has "zero political clout" is making tinubu camp to write long epistle for us to read

Go to Ogun state, nobody cares about him. They are writing an epistle or not, it doesn’t change the fact that he has no political influence at all. The Tinubu camp where trying to get him onboard to make it look like they had all prominent Yoruba sons behind them, same reason Tinubu tried to make up with Afenifere. Obasanjo is a paperweight, nobody rates him in the south west, he hated Awolowo, MKO Abiola, and now Asiwaju, which is why nobody really gives a Bleep about him. Heck, Yorubas didn’t even vote for him when he ran for President lol.

This post is about Obasanjo’s influence. I am not saying he is wrong to endorse Obi.

azpekuliar:
Onanuga conveniently left out the fact that Obasanjo endorsed Buhari against Jonathan in 2015 and he (Buhari) won. I get that it would not have suited his narrative.

Tinubu and the PDP govs who decamped to APC won Buhari that election. Obasanjo’s endorsement fo Buhari had no impact on that election. For a former President, the man has zero political clout and it is amusing.

MasterTeeUSA:
At the rate of 200 million NIGERIANS and $1 = N735, she is claiming that they have stolen over $200 billion. Buhari created a SINGLE TREASURY ACCOUNT that allows the Govt to track all expenses. The whole Economy of Nigeria is a little over $500 billion, so she is saying they have stolen 40%. Now, State Gov and LGs get about 48%, so if we remove that ...it means 40% of the remaining 52% was stolen....SORRY, she is LYING.

Sadly, anyone can say anything these days and without a typical Nigerian just doing a simple google search to dispel this rumor, he or she will just believe and spread the fake news. People need to be arrested to give proof because this is the news that causes unrest.

I can’t believe I had to go to the second page to see someone with a reasonable take. See how they just jumped on the news without analyzing, Nigerians can be very emotional that is why we get so easily deceived by sweet tongues politicians.

VeeVeeMyLuv:
Really? Are you serious? U & I know that most of these riches are ill gotten through mindless , heartless looting of treasury

And sharp corrupt practices such as FX rountripping, subsidy fraud, oil theft, inflation of contracts & non execution of projects to divert funds.

Not from Enterprise.

U want people to consume home grown, yet leaders who should lead by example are 100 % have insatiable taste for foreign.

I know what you mean, my point is Politicians are scumbags everywhere in the world, we can reduce it but is not going anywhere. My point is we notice all of this because Nigeria is not making enough money.

In the UK at the start of corona, the companies who got ventilator contracts where companies who where like 2, 3 weeks old. Guess the owners? They where all friends of politicians, and they bought the ventilators at 2,3 times the market price. My point is politicians are the same everywhere, we notice the corruption in our own system because the government doesn’t make enough money to run essential services.

nedekid:
Well said, but my point is that we have been doing things same way and getting same results. We should try some other way to see if there will be improvement. We have not gotten the full details of his plan, just the sensational part was picked. Don't forget Obi has operated businesses at the highest level, home and abroad. From international to local trading, also the financial industry.
On the financial sector ran 2 banks including the current fidelity bank, chairman of charms Ltd and so many other blue chip companies. He certainly is not a green horn.
Finally, fx and economic has to do to an extent with "confidence". People's trust in financial management. If people know they can have acess to forex to do their business or personal use when needed, there is less demand and pressure on the naira. Eg, currently, anyone that has reasonable cash at hand, because of perceived fx hoarding, goes to the parralell market and changes the money to forex and keeps, at home or in dom accounts. People have even started loosing faith in dom accounts and rather transferring to foreign accounts for savings!
Maybe once confidence is restored interms of availability, naira will stabilize, that might be his strategy. Of course, the regular import ban on certain goods remain to avoid the country being a dumping ground.

What Jobs Obi had before now is irrelevant to be honest, Tinubu isn’t a dullard either, Delloite and Mobil are bigger and more respected companies than Fidelity bank.
I understand the need to want to change things due to where the present system has led us, but there is no way lifting FX and Import restrictions won’t finish this country. The only solution is for us to earn forex through exports of finished products not raw agric materials that earns us peanuts. We need to also start “chancing” some of these smaller african countries, make them our market for things we produce. Influence them from exporting raw agric materials so we can launch an agricultural revolution because unless the europeans can’t get raw agric materials from other african countries, they won’t buy our finished goods. Lets use cocoa for example, it doesn’t grow in belgium but they are the biggest exporters of chocolate in the world, if we use the AU to make a law that no african country sells cocoa, we will force them to buy Nigerian chocolate. More jobs for us, more forex earned. One American company called Mars Wrigley Confectionery made $18 billion dollars in sales in 2019, Nigeria made a paltry $138 million in cocoa exports that year. Its absolute madness.

Unless we figure out a way to make more forex, Peter Obi won’t change anything, bring an angel from heaven and Nigeria will still not get better.

If we make more FX, confidence will come back.

VeeVeeMyLuv:
Oga nawaoooo haba...

Are u not seeing graduation pictures of our leaders with their children in Cambridge, havard, foreign countries, medical tourism....

I see that, you can’t stop rich people from sending their kids abroad. Over reliance on oil money to get forex is the problem. The New York police budget is more than Nigerias military budget, that is to show you how poor Nigeria is. We need to find a way to make money. If we have enough forex earning streams, we won’t worry about mundane things like medical tourism and rich peoples kids schooling abroad. You think even if CBN rate is N700 a minister’s child won’t be able to school abroad?

VeeVeeMyLuv:
Lately some people have been using these particular sets of excuses in the bolded to defend and justify the suffering economic hardship in Nigeria. No b me ask them to dey born born plenty pikin they cannot properly plan for, take care of and engage productively. Are they more religious than the originators (whose birth rate has drastically reduced from 7 in 1960 to around 2 presently) of that religion (usu worships this day) ?



OPEC quota for Naija is 1.8 mbpd.
Yet production continue to dwindle, now 900, 000 bpd last reported. Shebi u don see am now ba?

About the birth rate, it is what it is. Northerners have more children especially the poor ones in the villages because more kids means more hands on the farm. Not just even poor Northerners, I have seen poor southern families with too many kids. The almajiri factor is there and no excuse for that one. But we already have the population no need to cry over spilt milk, we can’t kill those we consider poor and unproductive.

Our crude is being stolen by some unscrupulous elements, but those thieves are very powerful people in the region where most of our oil is, it is hard to catch them. Security forces who are supposed to burst them are bribed, so that is not on the government fully, Nigerians are just a very corrupt people from top to bottom, or will the president take a gun and go into the creeks to monitor pipelines? That being said even if we met our OPEC quota the money we make from oil will never be enough. We need to usurp Chinese influence in some of these small african countries, produce things and sell to them. Also cajole African Union countries to stop exporting unfinished produce abroad, switzerland don’t grow cocoa but produce most of the worlds chocolate. After this is done, we can go back to the days where Agriculture was a big part of our GDP but only sell these agric produce after value has been added. The Europeans won’t have a choice to buy Nigerian chocolate because no AU country will export raw cocoa to them. That is the only way we can lift ourself out of poverty. There is as much leakages in the US govt as in the Nigerian govt but it is hard to notice theirs because the US govt makes so much money, no matter how much corruption goes on there is enough to build infrastructure and run essential services.

*Belgium not Switzerland

VeeVeeMyLuv:
No.... the round tripping of fx is responsible for that.

What about people monopolizing fx at the moment? They get it at will.

Mind you, for strange reasons, the policy is also affecting incoming FX (diaspora remittances and those earning FX through work online) they have been frustrated lately. What do u hv to say about that?

What about leaders and followers losing faith in the country, spending scarce FX to educate their children in advance countries, buy properties over there, go for vacation there, go for medical tourism for something as slight as headache? No b the same scarce $$$ them dey spend for flight ticket and the other stuffs. Import is not the main problem.

Same gulf countries also import alot too (nearly all of their food), they are oil producing like Nigeria too. Yet their currency value remained powerful standing kamkpe like a Colossus. Case in point, 1 Kuwaiti dinar = 1300 naira!

So why must Nigeria case always be different why?

Oga Abeg no give me headache this morning.

Round tripping alone cannot cause the alarming fall of the dollar. The Gulf countries are small population wise, and produce a lot more oil than Nigeria. I doubt we are even in the 10 oil producers in the world, plus we have 200 million people to share that meager oil earnings. That money cannot go far.

The policy cannot affect diaspora remittances and people and remote workers. If you have a dom account, receive your remittance/remote work pay there. Look for Bureau de change with a dom account in the same bank you use, most banks won’t let you withdraw dollars but you can do a transfer. You aboki pays you black market rate in naira. Problem solved.

nedekid:
Funny you, as I said earlier let's stick to what we know.
The fact that boarders were closed, imprortation of eg rice, turkey and the rest was banned, has it increase local production and made the price of those items reduce? Has it in anyway stopped the devaluation of the naira since those items have been banned and no forex allocated for importation?
7 year ago when those items could be imported, how much was rice, turkey etc and how much was the dollar to naira. Now it has been banned how much is rice etc and how much is the dollar?
You were importing 7 years ago rice 3500 a sack , dollar ₦150. You banned, rice 35k dollar 750! No be juju be that?
Stupid policies!
I wanted to import a truck with my money sources from abroad, shipping will cost 2500 pounds, clearing ₦1.5m.
Now they told ee new gov policy is that you cannot load items in the booth of the truck to offset your shipping cost. That you must load such items in a container. So in short I will ship a whole truck empty and pay full shipping. On the short term, a civil servant thinks he is making money for gov, but a knolegable person knows that getting taxes from 1000 trucks imported is better than now when only 50 will come in at same time. Last week they said good worth billions are abandoned at the ports, cars etc because after clearing them they can not be sold at market prices, so better to cut cost by abandoning them.
Wise on the short term but silly on the long term.

In my opinion I don’t think the ban on importation of turkey and rice was a bad idea in itself, the implementation was the problem. I remember still seeing foreign rice in the market while foreign rice was banned, I am talking about many many months after the ban came into effect so we cant say it was the foreign rice already in the country that they where selling. Everyone knows Turkey is still smuggled in anyway, many governments before Buhari has banned it and it still came in. The Nigerian Customs service is a very corrupt organization so that is why many of these policies fail IMHO. But now saying remove forex and import restrictions? No matter how you look at it, whatever rice in price of goods we are seeing now will be childs play compared to what will happen if those restrictions are lifted. The solution is to ensure proper compliance to those policies, anything we can make in Nigeria should not be allowed into the country, most especially not with forex gotten from the CBN. If imported rice gets too expensive, people will eat the Nigerian processed once, it looks like a painful process but that is how self reliance work, it is a painful process. We want the country to work but we want it easy. Processing rice is not rocket science, if importers see they can make more money buying local rice and processing here they will take that route. Even the local rice will be expensive at first but eventually more people will go into it, competition lowers prices, and in the end everyone will be happy.
When we are shouting we want a better country, we should know a lot of pains comes with it.
Most people today are shouting remove fuel subsidy, the way you complain about the price of rice is how they will complain about the price of fuel. Nobody want die, but dem want go heaven.

You mentioned the government policy on containers and trucks when importing, I don’t have a lot of knowledge on that so I can’t say much on it.

nedekid:
Oga, stick to what you know, leave the one that is causing you "problems" for those that can handle it or try to do so, Afterall things have been done same way for the past 7 years and we know where it has gotten us. From 150 per dollar to 750! Should be continue doing things the same way and getting same results ie the destruction of the naira?
Kindly stick to hailing Tinubu and bashing tribes, leave economics to others willing to try a different route.

You people don’t think, that is your problem. You think 150 to 750 is bad abi, remove forex restrictions and see what happens. I guarantee the naira will devalue against the dollar by N1000 every six months. You will buy 2001 pencil camry for what you will buy a new camry today, na that time una eye go clear. You think those who put the forex restrictions and import restrictions don’t know what they are doing. Yes, there is corruption in that system where they give the rates to their friends but the alternative is 1000x worse.

N3TRAL:
A voice note isn't my problem.

My problem is that a presidential candidate wants to remove import restrictions in Nigeria.

Like what the Bleep?

Within 2 months of such stupid policy the dollar reserve in the central bank will be empty.

Millions of employees will lose their jobs.

Even people that produce biscuit will close their factories.

It's scary in this e-commerce era where I can order for 1 million crates of eggs abroad, 200,000 cartons of frozen chicken online, and throw poultry farmers into joblessness.

Nigeria will suffer the worst balance of payment deficit ever known to humanity.

Wow. Just wow!

That man if elected will be the worst president in Nigeria’s history. He is just riding on the anger of the youths and nothing else. He has nothing upstairs.

Una don start abi. Was he speaking Chinese to the girl?

LMAO. Peter Obi and Atiku don’t know what they are up against. Asiwaju Tinubu will run a kind of presidential campaign never before seen in this country. Say what you like about he being a good/bad person, that man knows this politics game.
He has wanted to be president all his life and spent most of his political career in the opposition, finally he is in the ruling party and against all odds emerged as the party’s candidate and someone somewhere thinks this god of a politician will lose. Even if it is by one vote in a rerun election, Asiwaju Tinubu will win the election next year, and he will be a fantastic president.

Anigreat:



Even when they debunked it, that the said bags was meant for soap to be shared among our beautiful mothers in the market, but foolish urchins won't rest.

The problem with Obi’s supporter’s is they are self righteous pricks. If it was PDP or APC’s logo on oil and soap will you accept an explanation that it is not being shared by Atiku or Tinubu directly but by some support groups supporting them. Now we have your logo on oil and soap and you’re telling us it is from support groups. Oh, you think the ones with PDP or APC’s logo came directly from Atiku or Tinubu. What a delusional bunch of people.

Look at all the insults this man is getting for making an intelligent point. SMH. This goes to prove lots of people are not very objective and do not even deserve good leaders. Even if you hate the man, you can’t appreciate when he says something sensible too? What a pity.

treesun:
APC brought us into these problems, with their evil intentions!

Not arguing that fact. It just baffles me why all thia is happening. Usually politicians put on their best behavior when elections are close. With the way things are going from bad to worse despite an election being so close, it just feels off, like something really bad is in the offing.

It is almost like the Buhari administration is trying really hard to destroy all chances of APC winning the next election, because WTF is this incompetence?

Transcriber:
I smell rugpull

This is not one. Read the website, the plans for this one are huge.

specie103:
Person never recover from WAKANDA... you dey mention another 9ja token....

Wakanda is a meme coin, this one has utility.