₦airaland Forum

Poor little cat.

lenghtinny:
The guy's geepee tank must be at an all time low.

Abeg, no kee someone with lafta.....

seguno2:
In the long run, with deregulation and refineries promoting competition, fuel will be cheaper after the initial hike.
Was that not what happened to mobile phones , telecoms and cement

Exactly....I only spoke like that because Nigerians don't like high prices, and don't like waiting for long term benefits.

GSM taught us that lesson.

seguno2:
Did Buhari not remove oil subsidy already hence the increase in fuel price to N145 instead of the N40 they promised, even when oil prices were low

(Note...I am not into your APC-PDP politics ).

What government announced was a 'partial' removal of subsidy...which really amounted to them increasing the price to take some pressure off the marketers.

At the time it was costing N130 to import one liter of fuel, while the Retail price was N87...plus, there were millions of naira owed from the last admin in subsidy claims.

In other words...marketers were selling at a loss.

What govt did was move the price up...which allowed marketers to make a 'profit'...but govt still set the price.

By November 2017....the import costs had gone up to N170 per liter of fuel. The only reason why we don't see a scarcity is because govt is now the sole importer of fuel...and is selling fuel at N145 per liter...while 'paying a subsidy' to cover lossess (that's where things get murky).

COMPLETE (NOT PARTIAL...COMPLETE) Deregulation would end all this issue...and fuel would flow. And more investment too. Problem is...government is not coragueous enough to deregulate completely..so we continue throwing money down a 1000 foot pit.(And some of it gets stolen).

(Funny thing is, all the elites stand to earn more from complete deregulation. Oridinary Nigerians may suffer intiial increased prices...but there would be more jobs , and eventually market forces driving down prices).

ericsmith:
just wondering how could you make so much a emphatic statement without mentioning 'Refinery ' even for once.

Refineries are not going to make fuel cheaper...because anyone buidling a refinery has to make money...and if he or she has to sell PMS government controlled prices...well, they would go out of business.

Deregulation is inevitable.

grandstar:
You're making the mistake blaming people.

The bucks stops at the governments door.

Lending rates in double digits are crushing the real sector of the economy.

How do you expect industrialist to borrow at 28% and you want the sector to boom? Dangote wondered how the government expects agriculture to thrive when interest rates are 20% (as of then)

High lending rates kill productivity which is extremely important for the country's companies to be globally competitive.

If lending rates were in single digits, they would feel confident importing advanced machinery from abroad that would make them highly competitive and productive.

With low interest rates, they can continue borrowing and investing until the Nigerian market becomes too small . They then turn aggressively to exports.

AMCON has been seizing company assets right left and center. Some are not some reprehensible fat cat who refuses to pay his debts but reputable blue chip companies.

I was at Victory Park Estate, Osapa London last year built by UAC.

Apparently, the estate had been taken over by AMCON!

Keep in mind that the economy...the high lending rates, and the bad debts...are because we really don't have enough money in the system, and because we rely too much on just revenues from oil (yesterday it was agric, etc.).

There is a simple route out of this...end subsides, deregulate everything...and while prices go up...investment flows in, jobs get created, and we have an end to bad investments.

Banks will even lend at lower rates because they are sure of getting their money back.

That is what this government needs to do...and that is what the past government should have done. (sigh).

seguno2:
Baru is stealing on behalf of and for Buhari in the same way that Buhari was stealing for Abacha in PTF.
Have you seen how much loans Buhari has borrowed since 2015? He is not saving money. He is busy stealing like an hungry madman in an eatery.

1.Our reserve going up from $28bn in 2015 to $40bn in 2017 is not good enough for you?

2.We are borrowing because the oil price is not high enough for us to run an economy without borrowing. Oil was at $75 in May2015, and went down to $30 in May 2016 before rising to $70 now. Any one could see that we had to borrow to make ends meet. Diversification isnt a one day job.

3.Again, we need oil to be at $139 to balance the budget (see the article here). That is why we borrowed, even when GEJ was in power, because even when oil was between $100-120 in 2010-14...we still were not earning enough.

4.If we want to earn enough forex and stop borrowing too much...we need to remove subsidies, allow deregulaiton in things like the price of fuel and the price of electricity...which would in turn attract investors and money. We also need to end our dependence on exporting primary products...and use them to MAKE STUFF THAT WE CAN EXPORT...for higher profits.


Which is why I am no APC or PDP supporter. They run the economy on the idea that we need to keep on selling stuff to grow rich. And we share the money. That is not how we run an economy.

sanandreas:
We want true federalism and resource control. What happens to us when oil is gone?

1.I don't like true federalisim. Not because it is a bad idea...it is a good idea...but because (ideally) we end up with six regions doing nothing but exporting oil, cocoa, cotton., minerals, etc...and sharing the money. Which is good...if prices of those things stay high. (And that isnt the case all the time).

2.What I want is increased manufactruing, using the raw materials we have. The North, for instance, can use groundnuts to make hundreds of products, which can be exported for higher profits than just selling groundnuts. Ditto oil cocoa, etc.

3.I also want to see an end to subsidies, because subsides on things like oil and fertilizer means that the government is dictating the profits of businessmen and investors who sell those things. You won't like it if you were a businessman, and govt forced you to sell your wares at a low price, and paid you insufficent money in the name of subsidy as your 'profit'. GSM works well because Obasanjo, in one of the wise moves of his admin, refused to force the GSM companies to sell data and airtime at low prices...which meant more investment and more players coming in (See 9 mobile...once eitsalat pulled out, 8 investors showed up to buy...because they are sure of a reutrn on investment).

nairavsdollars:
Buhari will take the glory as Minister of Petroleum yet it is Kachikwu that is doing all the job. Baru stealing all the money

1.At least Buhari is saving large chunks of the money in the reserve...my problem with him is that we are throwing away millions on things like that pretend fuel subsidy (Baru's stealing).

2.If you want to stop Baru 'stealing', then you should support deregulation, or the right of fuel marketers, big and small, to sell fuel at prices that they want to sell. That would end the stealing in the name of illegal subsidy that NNPC is up to, and would allow for massive investment in our oil sector. Sure prices will go up , but scarcity would end, and we would even have more money to save, and possibly direct to other things. Like railways.

sanandreas:
Imagine if lord lugard didn't merge us. Niger delta is still carrying the burden of this fictitious country.

OK...if Flora Shaw's boyfriend did not merge us...it would be the Niger Delta fighting with the rest of the South for control of oil resources.

The problem with our economy is that we prefer to export primary products...rather than use our brains to make things .
If you want a better economy, then you need to work for it. Stop expecting a free lunch.

It is a good development, but the problem is...

After two consecutive quarterly declines, imports rose 19% q/q to ₦2.5 trillion. We note that imports in the quarter were skewed towards January – accounting for 42% of Q1’18 imports, highest month on record. Meanwhile, we highlight that Nigeria’s import profile remains tilted towards processed goods (c.80% of imports) such as manufactured goods and refined petroleum products, a stark contrast with exports which are mainly primary products (above 90%).

Personally speaking, I don't like this at all. This is how we have been running our economy since independence, and why our economy is forever vulnerable. We keep on exporting primary products...which are processed abroad for higher profits and end up benefiting foreign economies.

(Like now, we export crude...which is processed into all sorts of products, including PMS, and then we import the same PMS...at higher cost mind....and then we pay 'subsidy' on it. And we have been doing that for years. God help us.).

If we could at least be experting stuff like processed products from oil...eg plastics, etc...we could be quite proseprous.

And we are still importing refined petroleum products....and we exepct prices of PMS to remain low. We better be more realistic...we cannot be importing refined products, and selling them at lower prices than we import them for. Or else we are going to keep on having fuel scarcity whether we like it or not...unless we deregulate fully.

CaptainGOOD:
The case of HENRY onyekuru pained me.
For those that havnt seen him play just check him out one u tube..
I have not seen a fast dribbler like him.
At least not in Africa no jokes.
He has a very high and fast dribble with quick ball control.

As the article says..long term injury plus not playing for his club much this season reduced his chances. Coaches prefer to select players partly on how many times they played for their clubs the precceding season.

Whatever the list...that is football,

In 1958, the coach of a South American country, much to the anger of the fans, brought in an unproven 17 year old into the national side, instead of an established striker from one of the big clubs. To make matters worse, the 17 year old got a small injury.....but once he recovered, said 17 year old went on to score two goals in the final of the World Cup. His name...Edson Arantes dos Nascimento, aka Pele....

chiedozie198100:
why did abiola go begging awolowo widow before the 1993 elections.

As an NPN member in 1979,Abiola worked on behalf of his party against the UPN party of Awolowo .

Interestingly, Abiola fell out with the NPN in 1983 when he indicated interest in being their presidential candidate, only for the party, through Umaru Dikko to tell him 'No vacancy'.(Or, 'The Presidency is not for sale').

Abiola thus went over to the UPN, and backed Awo for the 1983 elections.

I don't recall Abiola begging Mama Awo (Mrs H.I.D Awolowo of blessed memory) in 1993, but it should be pointed out that some Yoruba leaders were wary of Abiola because of his earlier support for the NPN. Politicians never forget.

thesolutions:
Really? So we have been using money before colonization. Or perhaps, you mean the were colonized by the Arabs before the British and others that played a part.

That is partly true to some extent...though we used things like Cowries,manillas, and gold....

Arabs never colonised any part of Nigeria. They came as traders, and also came to spread their religion peacefully.

If you say it was introduced because Arabs were our trade partners in our early formation, it would make sense because there was no boundaries then.

But now, our monies are for internal use. Those are not needed. There is a nation foreign currency accepted for foreign trade.

Ajami script is Hausa written in Arabic script. Not Arabic..

Arabic script is used to write other languages like Iranian and Urdu.(and was used in the past to write languages like Hausa.)
Chinese script has been used to write Japanese (Kanji) and Korean.
Roman script is the most common...used to write English, French, Spanish, and a host of other languages, Hausa, Yoruba and Igbo inclusive.

For a religious group to claim it as their property means they have something in mind.

My opinion though.

In my opinion, MURIC is just making a mountain out of a molehill.

My problem is that some Nigerians seem to think that a few Arabic looking words on our currency means that we are an Islamic country. It does nt mean that...just as the fact that most hospitals in Nigeria have a red cross, or that we observe Sunday as a day of rest does not mean that we are a Christian country.

courag10:
Yemi Alade dey dere for him

OK...that is a good suggestion! If only Seun will take action!

SalamRushdie:
But there is an active budget still in place for replacing worn out notes so that defeats this your naive premise

There is, I daresay, but the problem is...it isn't enough.

The economy is not strong enough, the value of the naira is low..prices go up.

Note...we are not just replacing worn out notes...new ones too are to be printed. And in an economy like we have now...I won't be printing too many low denomination notes yet...it costs more, and as prices keep rising, the demand keeps rising...and pretty soon we start depleting the forex reserves again (something which our CBN governor won't like).

Modified....here is a blog post from 2012..which explains more..(reminds me of the attempt to bring in N5000...lol)

Quick thoughts on the new currency series.

First the new N5000 note. Think about how much you had in your wallet in 2005. The number of notes you needed to get by everyday in 2005. Now think about how much you need to have in your wallet to get through today. I bet your wallets are a lot fatter even though you may not be necessarily richer. The fact is with inflation at about 10% every year you need about twice as many notes than you did in 2005. Its easier on every one from people to businesses to banks to push fewer notes with the same value. A N5000 note makes things easier for everybody. Certainly a lot easier than taping 5 N1000 notes together. Will the new bill make things more expensive? Probably just as much as exchanging 5 N100 notes for 1 N500 note does. Doesn’t make a difference unless you are at a wedding.

Bottom line is as long as we have inflation of around 10% a year then we will need higher denominated currencies every few years and maybe even a currency re denomination at some point. The cashless policy might make all this redundant but that hasn’t really taken off yet.

tolexy007:
Don't b surprise wen u suddenly see new 100 naira notes with Arabic inscription on it, That is thier plan..

And why are you writing your response in the Roman script, developed by people who were worshipping Gods and Goddesses when it was first writ.?

Nigeria did not get islamised when ALL our currency carried Ajami script right from Colonial times. Infact, Christianity grew at a faster rate than Isalm back during the days when all our currency carried Ajami script. And Chrsitianity is going to keep growing...and the gates of hell shall never ever prevail....

thesolutions:
They are working on bringing the Islamic inscription on the 100 naira note. The slate used in producing the old hundred naira note is missing.

Well, the Ajami script has been there right from the days of the British...and the thing is...it isn't any Islamic stuff...it just gives the denomination in Hausa language written in Arabic script (Hausa, Iranian, Turkish , Urdu and a host of other languages, inculding some African languiages were first written down in the Arabic script before the Birtish brought in the Roman script).

And please, if we are to call Ajami islamic, we should call this Roman script we write in Pagan...because it was developed by a people who worshipped tons of Gods and Goddesses...and adapted for use by several languages.

Even English too....the days of the week are named after Pagan gods...eg Thursday (Thor's day). Friday (Freya's day). Wednesday (Woden or Odin's Day)...

SalamRushdie:
Another evidence of poor management from the Buhari Administration..the scarcity is a deliberate one driven by nepotism and bigotry 100 percent .. The Buhari govt has refused to replace those lower currency out of pure nepotism and bigotry

100 : worn out notes are not being replaced because the govt has refused to order new notes over concern about the lack of the Arabic Ajami on them and there is a plan to first re introduce the Ajami before new notes are printed ..


50, 20, 10, 5 naira: are being plagued by patent concerns over the use of polymer technology as the Nigerian govt have refused to order new notes from the patent owners of polymer minting technology because the believe Soludo gets a secret cut from orders paid for ..so the plan is also to return those currencies back to paper when the new design for the 100 naira is ready .

Well, government is not printing lower denomination notes because inflation.More lower denomination notes means more money in circulation..chasing goods at higher prices (because we don't have forex to buffer the naira like we did in the boom period of 2010-14).

Also, it means that costs of printing notes is higher...and when we live in a situation where oil prices are falling plus even at $70-80 we need oil at $140 and above per barrel just to balance our books (that's the real reason why GEJ was borrowing..oil was at $110-130..leaving a deficit of $10-30)....we have to save money and cut costs.

Has nothing to do with Ajami...or whatever.

judedave181:
I think Nigeria is just unfortunate to have foolish leaders, to be sincere the worst note in nigeria today is #100, and the lowest denomination today is #5, this same #5 cannot buy anything in nigeria, the present government is not helping issue. The only solution to reduce corruption in this country is to stop printing out #1000 nd #500, our highest denomination should be #200, print out #1 paper money and 50k. MumuRIC asking daft Buhari not to print out #100 because there's no Arabic inscription on #100 note, can't u see that's savagery, I am sure the spokes man for those terrorist MuMuRIC thinks from Anus at times.

Again, we stop printing N1000 and N500..and make N200 our highest denominaiton....that would massively increase costs of printing...because prices have not yet come down...meaning we need to print higher number of notes (increaisng costs ofproduction and draining our foreign reserve, which we have just managed to build up again after the previous admin depleted it). It also means more notes would be chasing few goods....inflation rises, and the bad economy becomes worse.

If you want the value of the naira to increase...you have to earn more FOREX...and just relying on oyel...or even on agriculture...is not enough.

chiedozie198100:
MKO Abiola was the electoral commision chairman in 1979 that denied Awolowo of his mandate and rigged the election in favour of shagari.

this is true facts of history.

1. And this comment got 16 likes....chai.

2.Michael Ani of blessed memory was FEDECO chairman in 1979! FEDECO...the Federal Electoral Comission...conducted the elections in Nigeria then. He was replaced by Chief Ovie-Whiskey, also of blessed memory for the 1983 elections!

3.In 1979, Abiola was a member of the National Party of Nigeria...and as a party member he would have not been allowed to be a staff of FEDECO, talkless its head.

4.Awolowo went to court because there was a dispute over whether Shagari won at least 1/4 of the votes in 2/3rds of the states.

As summarized below..

.Under the 1979 Nigerian Constitution, in order to be elected President on the first ballot a candidate needed to receive both the most votes nationwide and at least 25% of the vote in two-thirds of the states. However, at the time of the election, Nigeria had nineteen states, two-thirds of which in exact figures is 12.66. A dispute thus ensued over whether Shehu Shagari had received the necessary threshold by winning 25% in twelve states and 19.9% in Kano State, which Shagari claimed was two-thirds of the required 25% threshold and represented the remaining 0.66 in the constitutional threshold. Obafemi Awolowo claimed that the threshold should be rounded up to thirteen states, which Shagari had not met. The Supreme Court of Nigeria ruled in favour of Shagari
Sauce Awolowo vs Shagari Wikipedia.

If Awo had won his case, at best it meant a runoff election between him and Shagari. No mention of rigging then(The 1983 election though...)

Sir, you and the people that liked your post...better read your history. Please.

cyborg123:

We at the nairaland headquarters are working on a robust bride. Thanks for your concern.

Signed: management.

Okay...but hurry.

SEUN

SEUN

SEUN

See how you have missed a golden opportunity?

Seun...ok...there are other fishes in the sea.

The thing about June 12 was not that Abiola was a savior, but that some groups of people used their power and influence to subvert a democratic process, and returned us to dictatorsship.

I don't think Abiola would have saved Nigeria , plus he had his issues well well...and that ITT thing is true.

But here is a fact about democracy, that some people don't get. When you lose an election, sometimes it is better to stop challenging the result, stop crying rigging, grow a pair and move on. All those NRC governors from the Nawth...who subverted a democratic process...what benefit Nigeria?

Nigerians should learn their lessons from June 12. When you lose an election, move on, and start getting ready for another round 4 years from now. Don't be trying underhanded ways to create crisis.

seguno2:
Chinese people were using their local low quality items instead of selling themselves cheap to oyinbo imports.
Are we superior to the Chinese

China's football kitmaker is the same Nike.

Your points are in order though.

BilliBaron:
If you have his contact tell him that Enugu Rangers is for sale. He should come down to ENUGU Nigeria we are ready to accept him back to back without obtaining Nigerian Citizenship:-D

Just know that if Abramovitch buys Enugu Rangers, the cost of popular side at the Nnamdi Azikiwe Stadium will reach 5000 naira per match

Roman is coming to make money, not to spend money.

KevinDein:
Lol, so were Newcastle, Leeds, Everton.

It's not going to be easy to find another billionaire who's willing to pump millions into a football club for fun..
Ask Newcastle

Newcastle has Mike Ashley

The problem with Newcastle is that Mikey is too prudent. . Doesn't want to spend the money on buying sensible players that might pull the club up. Instead na to spend enough not to get relegated.

If man city's owner were like Ashley, Man city would have been finishing at tenth.

Though, look at Lecister. Won the league on a skimpy budget buying guys like Mahrez that were division 2 players in France . Eventually, competitions and cups are won by good players, and good teams not the expensive teams

Chelsea better start looking for buyers now.

The UK Government and the Russian government are on the warpath over the poisoning issue that affected the UK recently, and this is the fallout

mikejimm:
.

Most of the wrongs are caused by the govts-especially on town planning issue. If u have been victims of some of his actions you will not be talking this way!

All I know is....

Abuja before El Rufai....houses built on waterline, Wuse Market had no parking lot, people built houses everywhere.

Abuja under El Rufai....houses built in order, rich and poor, muslim and christian get equal treatment under the law (muslims used to call el rufai Satan at one point...because he demolished mosques not properly constructed), a proper mass transit system for Abuja that has sadly not been maintained by his sucessors, etc.

The problem with Nigerians...dem tell you no build there, you go pay bribe and build there...then when govt comes and does the right thing...you people will be complaining.

Let everything be done decently and in order. Thanks. Nigeria go better.

tiwiex:
They are. The primary reason for this might be two. One prevention of diseases/ cross breeding and prevention of open grazing probably. Even though the cow was health, the Law is probably clear on the action and there was no requirement to check the health.

I think the law targets humans and not cows. It prevents them from being careless in their duty.

For those saying Oyinbo wicked, it shows how serious they are with every entity. They even address cattle management in an act or law. Everything is serious and important. This is why Nigeria cannot work as we operate now. We don't even know who the herders are. The land is just free for all. They don't even pay tax.

1000 likes for this response that ACTUALLY gives a sensible explanation to the OP's article.

But I thought that white people were more civilized than black people...or at least that is what some nairalanders beleive.

oyatz:
Medicine and Surgery didn't start in Nigeria, let alone at Yaba Tech.

You have been brainwashed by the AMLSN for long.

The Yaba Medical school was a PRE-CLINICAL school and those who graduated from it had to travel to UK to to complete their training in the teaching hospitals with Medical College, University of London or Dublin.

Sometimes because of paucity of funds ,some of these graduates worked in hospitals in Nigeria as Assistant medical officers (NOT DOCTORS) for 1-2years under the supportive supervision of British medical doctors and saved enough money to travel to UK to complete their medical degrees and become Medical officers (MO)

Good historical point.

In one novel , a minor character starts out as a Assistant MO, and then becomes a MO after studies abroad. (Forgotten the novel title, but it was set in the South East in the 1930's ).