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Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 11:33am On Jun 09, 2020 |
emmanuelewumi:Well you can't blame them,it's for their own benefit because they would have paid more naira to local investors using the current market realities for fx. I'm sure you would do the same thing if you were the chairman of their board so as to enrich your company and yourself,abi? |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 11:14am On Jun 09, 2020 |
pluto09:I wonder who they warned in 2017 February before they crashed rates from 520 to 360 in days. They are looking for who to come and sell them cheap dollar because of panic. impossible! And BDCs resuming still don't mean that much because it all depends on how much fx CBN gives them,which nobody knows till now. What if CBN gives $10k per BDC? What will now happen? 1 Like |
Business / Re: Onowu Enukeme, Chairman Of Tonimas Is Dead by Theconglomerate(m): 11:05am On Jun 09, 2020 |
Sad,he was a good man. Onowu Neni. Such a great loss. 10 Likes 1 Share |
Autos / Re: A Neat 2011 Belgium Honda Accord Crosstour Up For Sale In PH.. by Theconglomerate(m): 10:53am On Jun 09, 2020 |
Location,Ada george by pepperoni junction.. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 10:15pm On Jun 08, 2020 |
ositadima1:good night. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 10:08pm On Jun 08, 2020 |
ositadima1:Subsidising dollars for them so that almajiris can continue to see plates to lick. Because if dollars is sold for it's real naira equivalence,the person that bought the food will first lick the plates before passing it to the almajiri that will lick his spit instead. This is why they keep politicising naira's real value so that all their child voters up north don't die of starvation at the expense of Nigeria's sane population growth. 2 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 10:00pm On Jun 08, 2020 |
ositadima1:They don't have 200m people with 40m+ almajiris to worry about na,very simple... Only our almajiri licking plate,out of school children pass their population 6 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:55pm On Jun 08, 2020 |
ositadima1:Where is the deviation? |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:54pm On Jun 08, 2020 |
ositadima1:Saudi produces 11.3mbpd of oil. So if oil fall o,rise oo they are good So why would their currency depreciate because of price crash when they produce so much of oil? Saudi and Nigeria or Venezuela na mate for oil business? If you want Nigeria to be like Saudi,abeg go find $50B borrow NNPC for E&P so we can produce at that level to fight depreciation. Or you think you will just go to an oil field and wave your penis and oil starts jumping out? It costs money that Nigeria don't even have to produce oil on that level 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:50pm On Jun 08, 2020 |
ositadima1:So all cleaners in the US are not qualified or educated? Is that what you are saying? If USA is heaven to you go there na. Small protest and covid 19 they are all homeless and looting stores and you say them be heaven Who been loot or cry homelessness for UAE abeg. 5 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:45pm On Jun 08, 2020 |
ositadima1:If corruption was the problem,why did the economy crash in 2015 when oil fell?It should have happened before that na because corruption has been there for so long. It's like saying George floyd died of coronavirus rather than asphyxiation caused by Derek chauvin kneeling on his kneck Corruption was just part of Venezuela's problem,not it's cause for collapse. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:41pm On Jun 08, 2020 |
ositadima1:Those people that live on $1k a month ride bicycles,definitely not cars. 3 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:36pm On Jun 08, 2020 |
ositadima1:Venezuela and zimbabwe currencies depreciated,they didn't devalue. Devaluation is a controlled process,something all of you keep missing. Venezuela ran out of dollars kpam kpam,nothing. Why?Because they were already having problems producing their major export which is oil. When oil fell in 2015 their economy collapsed since they don't produce anything else. Zimbabwe own na sanction cause am. Now tell me,how is Nigeria's own case similar to these 2 examples? CBN tell you say e no get fx weh go make its currency depreciate out of control? Or devaluation will suddenly make Nigeria lose its source of income I guess? It will just be a strategic adjustment to crush imports,not that naira will suddenly become useless to the point where a truckload of naira will be used to buy bread. Na wa ooo 4 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:27pm On Jun 08, 2020 |
ositadima1:If it takes the cleaner 3 years to do this,call ne bastard. Who do you think is looting all this stores in the US in this current protest? Someone earning 100k in Nigeria that isn't married and works in a credible place can get to save 2m for 3 years to buy brand new Innoson fox for 3.8m and get financing for extra 1.8m to clear the whole debt,a privilege his US cleaner counterpart clearly lacks. The problem is that everybody want drive benz at the expense of the CBN. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:19pm On Jun 08, 2020 |
ositadima1:We already have the local demand,devaluation will make our people buy our produce and encourage our sleeping lions that it is time to export and forget import. If dollar gets to 500 and stays there,what do you think all these current importers will be doing with all that idle naira in their hands,when they know If they export and bring forex they'll have so much money? I was looking for seedless cotton last year for an indian client and the whole of Gombe to get machine that removes seeds from cotton as white people want it was a problem Because imports is too easy and favourable that's why they all abandoned export na,because CBN dey sell cheap dollar. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:12pm On Jun 08, 2020 |
ositadima1:He earns around 24k a year. Minus his rent,food,tax,money for olosho and tell me what will be left to finance a new toyota. Any cleaner that drives a new toyota in the US either have supportive parents or sells drugs. People weh dey drive 25 year old Ford bronco steady 5 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:05pm On Jun 08, 2020 |
ositadima1:Devaluation would have been a shortcut in Nigeria's own case. But since you all seem to be comfortable in it then let's keep waiting na |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:01pm On Jun 08, 2020 |
ositadima1:A cleaner will buy brand new toyota in the US in his dreams I guess. You sure say you don go US so? People that I know don't buy 15 years tokunbo. I don't drive one so I wouldn't know about that statistic. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 8:53pm On Jun 08, 2020 |
ositadima1: Squandered indeed. Who says Nigeria don't lack funds? Go and look at what Nigeria needs to be sound infrastructure wise,get its value in hard currency and compare it to what Nigeria have made from oil so far and see for yourself. Yes there has been looting,but it isn't the major reason Nigeria is still backwards. We don't make enough money to keep 200m people afloat and take care of infrastructure too. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 8:49pm On Jun 08, 2020 |
ositadima1:Money is not defined by nominal value but purchasing power. That is why someone in Nigeria making 10m naira a year will live an equivalent lifestyle with some other guy making $60k a year in the U.S A toyota sedan that cost $40k in the US might cost $100k in Singapore. These are the reasons you shouldn't compare money by nominal value. Classic mistake a lot of you keep making. 5 Likes 1 Share |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 8:37pm On Jun 08, 2020 |
ositadima1:Yes import is cheaper because they have infrastructure that we lack. But what do you want us to do since it is taking eternity for us to have infrastructure? Is it not better we devalue more and suffer the masses for 10 years than to wait till eternity and probably never have this infrastructure the west has? Because if we keep subsidising fx to please the masses,we will never build that much funds needed to fix infrastructure. Power alone would gulp $50B. Now you see. 4 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 8:34pm On Jun 08, 2020 |
ositadima1:Would you compare corporate society of the 70s and that of today? Asides 1004 and festac that were built by government,show me another estate built by private sector na. But today you have real estate developers everywhere building and selling estates all over because there is the demand for it,not some beautification project. All this people that are buying 18m naira flats,don't that yell you these are the Nigeria lower middle class buying these houses? Where did they make the money from if not private corporate employment. 3 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 8:22pm On Jun 08, 2020 |
A perfect case study of the damages an artificial naira can cause is the dissaperance of textile industry in Nigeria. It is clear to everyone the damages smuggling can cause and the ineffectiveness of bans and high tariffs. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 8:20pm On Jun 08, 2020 |
ositadima1:Why do you say it never worked? There is now the existence of "corporate society" now in Nigeria because of what? In the past,all the people having white collar jobs were civil servants(government employees). Now a lot of these people are making a good living from private enterprise and you say it has not been working? All those houses in Lekki where people are paying 3m rent and those mini duplex and giant estates they keep building,isn't it for the bubbling middle class,most of who are bankers,private firm employees,etc... Is everyone close to you jobless that you say it has not been working? 1 Like 1 Share |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 7:54pm On Jun 08, 2020 |
ositadima1:We have chips,minimie and all sorts of variety Devaluation wouldn't make pringles disappear,no. You will still see it in shopping marts,just more expensive. So if one can't afford pringles,buy minimie na. Person weh no chop pringles dey die? 2 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 7:52pm On Jun 08, 2020 |
AMINDA:Who told you devaluation crippled Venezuela? It's like a lot of you can't differentiate devaluation from depreciation and it's very shameful. Venezuela prior 2015 had already started having problems in producing oil due to poor maintenance of oil facilities and no new investments in that sector for them. So their oil production capacity was on a decline and then low oil prices in 2015 tore it to pieces. They lost almost all their fx earning capacity and their currency depreciated out of control.Was that caused by devaluation? Also Zimbabwe is a poor country that survives on foreign aid. The sanctions the US put on them and IMF too made their currency also depreciate and economy tumble. So how did you come up with the whole "devaluation killed them" talk? Devaluation is a controlled process,strategically put in place and controlled not that tou go and fold your hands because you have devalued 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 7:33pm On Jun 08, 2020 |
ositadima1:Why do you say Nigeria has an unproductive workforce? Also,why does a lot of you say Nigeria don't produce? Can you tell me that thing we import that we don't have at home? Asides fuel,complex electicals,machinery,some special medicine and automobiles. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 7:11pm On Jun 08, 2020 |
ositadima1:I never said imports are bad or that I don't use them. But we should stop subsidising imports at the expense of our future. It's like eating your one week pocket allowance in a 2 days just because you want to eat and satisfy every craving you have,forgetting the future. If you want to buy imported products,pay the real price for it.That's all. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:23am On Jun 08, 2020 |
freeman67:No one argued about the existence of unions. We were talking about times of scarcity. From what you posted,you clearly see that union powers end only in those markets.They can't do nothing to you outside that market. Now in time of scarcity,there is demand but little or no supply.This forces your customers to be desperate and can go out of their way to get goods,so you arrange with them at the place you will offload to sell to them there so that you can dodge union fees,offload fees,marching ground boys and coldroom rent that is expensive as you won't need it because customers for it are already present with cash and their small buses so no need for storage. The only reason we use to hide from union is that scarcity won't last forever like I said. Fasting will end and everything will return to normal and you will no longer be able to corner clients again because everyone now has goods to sell and they will prefer going to the market because it is cheaper for them. Now if you have pissed off union in the time of scarcity,they can manipulate and make you not be able to sell again in that market,that is where their power ends.In the market,finish.Not that union will come and hold you while offloading bla bla bla...trash. His irish potato talk is not true about how they hoard potato to hike price in trucks. How do you hoard potato in trucks that can get rotten at anytime If at all you want to hoard,the owner will ask you to pay him upfront so he can escape the thing spoiling under his custody else he moves his produce to another market and union has lost commission from here. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 12:30am On Jun 08, 2020 |
Dreamflyin:Na so we dey take know people weh never do business before na E think say na to dey shout oil and gas here all the time. So far as you don't import contraband,you and port no get business. People that go to port are people that smuggle contraband so that they can bribe custom live and direct personally on inspection day. You go get agent still dey go port? The guy is really daft. 7 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 12:17am On Jun 08, 2020 |
Focusingmore:If you buy all my farm produce at the naira price that is okay for me,I will be happy na. I don't care whether you go and make all the money in the world with my product. So long as you give me enough naira to pay all my boys and expand my farm,I will be glad selling to you. 2 Likes |
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