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Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 4:21pm On Jun 04, 2020 |
odimbannamdi:Nigerians are adaptive because the devaluation have been coming in small small phases,which gives them the ability to adapt. How does one adapt to an outright,mean 40% devaluation? Remember in 2016 when rice hit 33k,people started switching to cassava,stone filled abakiliki rice and so on. Even sef devaluation will stop smugglers from their activities because their landing price will be so high that it will crush their profits and the price their market is willing to pay for their smuggled product. In same 2016 when there was tomato sickness and scarcity that drove prices of tomato up by 150%,we saw how people switched to banga stew You can only adapt if only the degree of damage is adaptable.there are situations that will make you give up and find a cheaper,local alternative. Money can make investors overlook everything,even kidnapping and racism. There are still oyibo and Lebanese littered all over Niger delta as we speak.why?Money. If a foreign investor knows that his dollars can give him almost twice the naira the same amount use to give him,he wouldn't care about security because he knows he can pay for his own security in Nigeria since he now has almost 2 times his investment power. Also,about people hiking prices of local produce is true,but it is temporary. Why? A lot of people will now flock into the same rice business as they will now see it as lucrative and the fight for market share will bring price down naturally. 2016 is there for everyone to see. Export started rising because Nigeria produce became so cheap. I went to Bangui,C.A.R(Cental Africa Republic) during those times and I saw Nigeria produced Malta Guinness being hawked on trays,to tell you that a weak naira will turn all out neighbours to dumping ground for Nigeria. That incident alone in 2016 almost froze the economy of many of our neighbours. As for my tomato business,it is growing...I am now worth a whooping sum of 83,000 naira plus assets worth 12,000. I am on the verge of making my first 100k 12 Likes 1 Share |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 3:22pm On Jun 04, 2020 |
CsRockefeller:Poverty capital no mean say you no go save. Everyone cannot save 10k a month.Even if na 2k,it is something. 15 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:46pm On Jun 04, 2020 |
IamR:Never? I guess you don't drive German. If you were,you would have known how easy it is to hit 220kph. We are even planning to go faster sef,na money for better machine never dey |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:37pm On Jun 04, 2020 |
IamR:Maybe you don't drive fast. If you were a speed demon,I guess you will know why we stick to sedans You can't be going 220kph in a truck and not feel like you might somersault anytime na. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 1:39pm On Jun 04, 2020 |
rationalmind:Since when you enter german? I think say na you be dey yarn and hype about Tacoma that time |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 1:22pm On Jun 04, 2020 |
rationalmind:Yes. Nigeria problem is people living above their means. People here Want to always represent and give the larger than life aura whereas their pockets are empty. It happens quite a lot. Nigeria and its people need iron hands. 7 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 11:55am On Jun 04, 2020 |
rationalmind:This is true. There is no excuse for not saving. I can only support a tradesman who have no savings because I know from experience that every penny made by him or her is reinvested in that business until it hits satiety before they start to diversify by most times developing property. That is why it is easy to see a man or woman with capital base not exceeding 20M naira in his or her business but has properties worth 80M. These people can't save liquid cash because there is always one sweet trade around the corner demanding for that capital before it even builds up 5 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 10:25pm On Jun 03, 2020 |
odimbannamdi:How much transaction? |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:27pm On Jun 03, 2020 |
ojesymsym:This is good and brilliant I must say,kudos!!! 6 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 10:04pm On Jun 02, 2020 |
michaelogunleye:Exactly. The smuggler gains and government loses as usual. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 4:09pm On Jun 02, 2020 |
ahiboilandgas:No shaking,1 Budweiser for you. 12 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 3:24pm On Jun 02, 2020 |
ahiboilandgas:Me too. 4 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 3:06pm On Jun 02, 2020 |
ahiboilandgas:Okay.. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 3:04pm On Jun 02, 2020 |
ahiboilandgas:Can you smuggle to America? What kind of analogy is this?Even drug lord from colombia and mexico that build Subs to smuggle drugs and own planes with deleted transponders hardly succeed to america,talkless of ship carrying commodity. So trump can afford to raise tariff,Nigeria can't else they finish it with smuggling. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 3:00pm On Jun 02, 2020 |
ahiboilandgas:If you say so I'm guessing you are their emir. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:56pm On Jun 02, 2020 |
ahiboilandgas:CBN cannot continue to ban items one after the other,that was why I said devaluation will cut across all sectors simultaneously,even though it comes with short term suffering but pays off well in the long run. 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:53pm On Jun 02, 2020 |
Tobex4realTobex234:Exactly. Not everyone needs it for personal needs. Most need it for commercial reasons like importation and co. 2 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:52pm On Jun 02, 2020 |
arent88:Borno. Mixhika,adamawa 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:47pm On Jun 02, 2020 |
Tobex4realTobex234:If I give you naira you first get me dollars at CBN price abeg? 1 Like |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:46pm On Jun 02, 2020 |
ojesymsym:Sell the tomato to tomato canning industry. That way subsistent tomato planters will get more money for the fresh ones they sell to consumers for cook purposes because fresh tomatoes will be scarce,since there will be huge demand for fresh tomatoes from multiple factories. Ten years after proper devaluation and everything balances. 4 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:39pm On Jun 02, 2020 |
ojesymsym:If you increase tariffs of certain imports in Nigeria ports,what stops me from importing the produce through cotonou and smuggle it to Nigeria? That way your customs make zero income from the product you increased tariff on and I still get to sell in your market. 2 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:29pm On Jun 02, 2020 |
Tobex4realTobex234:447 as we speak o. The free fall might continue throughout this week. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:27pm On Jun 02, 2020 |
ahiboilandgas:You keep talking about the rice revolution because the borders were shut and an outright ban was placed on it's import. Now imagine if all the raw materials of almost every food we import was grown in the north in that kind of scale. What is happening to rice now would be happening to corn,tomatoes,orange,livestock,etc too. The industrialisation would have been massive and the North as a whole would have millions of naira millionaires and it wouldn't be at the expense of our land exports as borders will be wide open for business and the CBN will keep their money as they won't need to give Grants to anybody because capitalists have their own money. If at all they fall short,they borrow from commercial bank. |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:09pm On Jun 02, 2020 |
ahiboilandgas:Honestly you don't have to believe me,because I don't own your thoughts,just like you said anybody not listed on NSE yesterday isn't worth $100m. I can't change that but those who know,know. But if there was demand for farm produce locally because of industrialisation,there wouldn't be just 88,000 peasant millionaires. That number might get to 3,000,000 millionaires. Having farming corporations will attract a lot of other businesses and contractors revolving around the farming plantations like; Suppliers of hardware. Logistic contractors. Medical contractors. Food Vendors to farmers,etc... So you see,you can't give Grant's and expect growth. Give the people demand and watch them grow by themselves. 3 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 2:01pm On Jun 02, 2020 |
mra123:That is slavery,not capitalism. Capitalism will permit multiple investors in farming/plantation agriculture that wouldn't pay their workers in food. If you offer the paying with food model,another corporation will steal your workers by offering money. That is true capitalism. 4 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 1:47pm On Jun 02, 2020 |
I just got informed that Dollar has now increased to 447 as we speak... Shebi I talk am yesterday. You can't learn how to predict currency in economic books Tomato selling school teaches more I guess. 5 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 1:43pm On Jun 02, 2020 |
Focusingmore:I don't read economic books. Very unrealistic for you to have assumed that. There is something called business experience. 3 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 1:18pm On Jun 02, 2020 |
ahiboilandgas:Seem you are the ignorant one here honestly. And I believe I've been very down to earth on this thread. Reason why you have the guts to call me tomato seller which I agree and love. You've been the one shouting oil and gas since to get noticed and you call another proud?Ironic if you ask me. The people in trade and industry that are millionaires in Lagos are not living in huts while their money is in Abuja. When you make money it becomes very obvious,reason why lekki,VI,etc...is what it is today. Capitalism,not government funded unsustainable ventures. 4 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 1:12pm On Jun 02, 2020 |
If you go to a supermarket to buy corn flakes and Nigeria shabby Nasco is N750 for 375g and imported Kellogg's is N850 for 375g,what will you buy? Be honest and answer to yourself not me as I know a lot of people here like to brag about money they probably don't have. But if naira is devalued to N500/$, 375g kellogs will automatically jump to N1500 whereas nasco might remain at N750 or increase to N850 max. In no time people will be forced to buy Nasco and forget kellogs and more people will enter the cornflakes production market to fill that void kellogs left. It's that simple really,not by giving Grant's to people doing nasco. Nothing will happen with grants or cheap loan that they will default because kellogs is taking their market share. I believe I have been basic enough. 16 Likes 2 Shares |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 1:01pm On Jun 02, 2020 |
ojesymsym:A lot of you don't understand what's going on obviously. Now how do you create that value chain when imports are there to fight price wise with that thing that you will produce here that gives that farm produce value chain? I really want you to tell me how. The consumers don't care about value chain,they care about product quality and cheap pricing. If you keep subsidising import by supplying cheap fx,how will the Nigeria value chain grow? Gosh!!! 6 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 12:58pm On Jun 02, 2020 |
ahiboilandgas:So where did 88,000 people keep the millions then,when the same place is still suffering from medieval diseases and a complete lack of infrastructure,down to even toothbrush? Now what if there were plantation corporations instead employing hundreds of thousands of northerners paying them and average of 50k monthly and there would still be the 88,000 millionaire capitalists too. What will happen to the place? Multiple industries will spring up in the place due to millions of people having disposable income na. Rather than funding 10,000 farmers with low interest loans that can always hire almajiris and pay them with food rather than money. You grow a society by creating demand,not giving Grant's to a few while the rest wallow in poverty,widening the gap between social classes. A person earning 50k a month in the north will no longer find living in a hut comfortable,he will like to rent selfcon. This is real estate market springing up already. 9 Likes |
Investment / Re: Treasury Bills In Nigeria by Theconglomerate(m): 12:35pm On Jun 02, 2020 |
CBN have been giving agricultural loans to farmers and Grants since 13BC in Nigeria. Why has the north that is dominated by farming not improve,rather trade and industry dominated Lagos is turning to London? The reason is simple,the farming model the north practices is mostly subsistence farming,not industrial one. No one just wakes up and start building mechanised farms and industrial scale ones due to emotions. Farm scaling is driven by product demand. If there is a factory that need 5 million tonnes of orange annually in Nigeria,you will start seeing orange plantation spring up,not farms.This way the northerners that will work there will be paid salaries,not with plate of food and will increase the standard of living of that place. But how would someone come and establish that kind of juice factory in Nigeria when he knows he can just import and cash out rather than go through the stress and risk of running a factory? How do you stop imports without devaluing?Bans?what of smuggling?or will you shut your borders because of this and destroy your exports like Buhari did? Rice farming started increasing in the north because Coscharis and other industrialists started building mills around the country because of the ban of importation of rice. Now imagine if fx becomes so expensive.It will be like an indirect ban of almost all products we use to import and hence,industries that cut across all consumables will start to spring up just like rice. That is how farmers are encouraged,not by giving them loans that will likely turn to bad debts if they don't find who to buy their produce due to imports killing local demand. 14 Likes 1 Share |
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