₦airaland Forum

Almajiri1:
This is far deeper than you think. Once Air Peace is positioning to be in direct competition with any American interest, Trust dirty to be dug up on you.

Which American interest? What do people like you take the US Department of Justice for? Don't you read that he forged documents to secure $20 million from USA bank, part of the fund used in acquiring five boeing in 2016? Why is the fund not returned three years later if the intention wasnt to steal?

What is it with all the fake companies and NGOs bank accounts opened yet used the money that came into them from oversea for the acquisition of aircraft for Air Peace?

Samfloxin:
This dance is becoming interesting. I pray Dino wins,not because he has personally influenced my life but at least he is vocal in the Senate and fights the lay man's common cause.

God bless you, he is the only man, opposition, that can challenge APC led upper chamber in the face of crazy bill and approval.

Kanade21:
Bros, you are absolutely right.

But keeping the subsidy is making things harder for us. Money that would have been used for salaries, for education and so on is being funneled into a subsidy that is a slush fund for government and private sector looters.

Yeah, when I say subsidy must go...I know things would be hard. But at the same time, jobs would be created in the refining of petrol as more and more people build refineries, because now, refining fuel would be prfoitable in Nigeria. And refined products could be exported.

Look, in countries like Benin, Ghana, Niger, etc, fuel costs above N300 and above. (You can check on google....even Chad pays higher than we do). Have those countries collapsed?? No. Nigerians are even running to Ghana self.

Also, crude oil, our major revenue earner, is so low, and has been low since 2014. Putting it bluntly, we do not have the cash to keep on paying for this.

So, oil subsidy has to go.

When GSM came toNaija, people were paying through their noses for service that was poor and baD. And Obasanjo REFUSED..TO SUBSIDISE GSM. Refused to cut prices. Because of that, GSM companies invested more, and the result is internet coverage up to 40% from less than 2% in 2001, and a telephone network that covers a larger distance than NITEL ever did.

Even that 500billion is just an estimate. It will go up once oil goes up this year.

It is hard to explain economics to non-economic people. Those countries you mentioned are not oil-dependent economies (healthy non-oil sector), do not house 87 million extremely poor people and enjoy stable power supply (minimal fuel consumption). Also, you forget that GSM was optional (affordable by only a few at an early stage). Subsidy removal would not be optional as prices of everything would surge and hurt everyone, kids, adults, practically everyone.

Also, GSM companies invested more because of our potential, 200 million market. No reasonable investor would invest in refinery at this moment when Dangote is hitting the market with 650,000 barrels per day next year. What else are you not seeing?

Again, the campaign against fossil fuel has deepened across the world and as we know it, global investors with money like positive image, 'our activity is not hurting people in Africa' or the fear that it would all come to an end soon. The real investors have a broader overview.

The N500 billion won't go up once the budget is passed (into law) my friend.

Presently, the Federal Government wants to start withdrawing issued refinery licenses as those in possession of it are not doing anything with (around 50 modular refineries) it. Who will blame them when Dangote is almost done. Na change you call am?

Remove subsidy if all the SMEs that depend on fuel for day to day activities won't shut down and unemployment jumped exponentially. How can you even compare GSM and nations with a stable power supply to a nation like Nigeria? This is what I always tell people we have a unique situation and we must address it with a unique solution, not IMF developed solution.

Kanade21:
As some people have suggested here, the solution is simple

Stop paying underrecovery, stop paying subsidy, and all this smuggling would stop.

Because why should I sell fuel at N145 when I can sell it in Benin for N300 and above.? And make a sweet profit.

No customs or jupiter can stop me.

Of course , customs has to do their job properly. Closing the borders cannot be a permanent thing, because the market is more global than it was yesterday. But this fuel subsidy is creating more problems than solutions. It is time it had to go.

Federal Government is not stupid, removing subsidy would hurt the economy even more and send Nigeria on a journey of serious economic crisis. The cost of goods and services would surge proportionally, the same with inflation and economic productivity would almost die.

With subsidy 322 companies shut down in five years, over 1,100 are at risk of shutting down in Nigeria, according to the World Bank report released this morning. Manufacturers in the manufacturing sector are complaining that the cost of generating power is hurting and limiting their productivity even with the subsidy.

The border closure has helped reduce daily consumption from 60 million litres per day to 52 million and fund allocated for subsidy in the proposed 2020 budget is around N500 billion, down from about N1.4 trillion in 2018. Nigeria just needs one more thing, technology to account for every supply and delivery. It just doesn't make sense to hurt the entire economy because of a few criminals.

Until our wage growth picked up, household savings surged (only 2% of Nigerians have over N500k in the bank account) and consumer spending improved, FG won't remove subsidy. If they do, just go climb the closed border join me at the other side.

KSI worth $5 million? That is the world's biggest YouTuber.

He generates over $25 million a year from youtube alone.

Daviddson:
You were a teacher in 1994 and you're still putting 'boy' in your name? Where's the maturity, oga?

It depends on when the account was opened, he did his NYSC in 2000/2001 and registered on Nairaland in 2005 (14 years ago) one of the very first set.

If the account was opened recently, you had made sense.

emmanuelewumi:
Because cbn is defending the Naira

You guys are living in Nigeria at least you should understand your own economic structure. Nigeria is a mono-product economy (usually, take crude oil and sell, then use the proceed to service the economy) that method is no longer working with slowing oil demand and unstable oil market amid the ongoing campaign to end fossil fuel.

These policies are to help diversify the economy by stimulating growth from within against the usual foreign dictated path (healthy when oil market is positive and down when not). What you called defending the Naira is what is ensuring dollar liquidity in Nigeria (petrol-dollar economy). Until the economy is fully diversified, CBN will continue to maintain that forex policy.

emmanuelewumi:



But foreign portfolio Investors are allowed to invest in OMO and Treasury bills

They augment and sustain the nation's foreign reserves, the country is in the process of diversification. Things like this and border closure are normal to revamp local manufacturing, force the consumption of local products and stimulate growth.

Grupo:
I have a strong feeling that this guy is the same as @healthserve.

He is happy that CBN wants to stop Tbills.

Oga, whether CBN stops Tbills or not, we will still not invest in your "real sector" businesses.

If you are conversant with business happenings, you should know Truth234.

ahiboilandgas:
the money we are investing is coming from the real sector ...abi na from tree we dey pluck am.....a fleet of 20 trucks is enough real sector na ...other are working and earning and investing in tb....others are using the interest from t.b to build houses ,pay school fees ,buy food stuff ....indirectly creating jobs and stimulating the economy......cbn gov na idoit

No CBN is not idiot, people like you generalise your understanding and assumed it apply to all. CBN has the right data and knows precisely what needs to be done.

When 60% LDR policy was enforced in September, didn't borrowing to the real sector surged?

If you are making the money from the real sector what is stopping you from investing in the same sector? But no, like most smart investors you rather put your money in a risk-free investment. It is not an issue but knows that Nigeria is at a critical stage and all hands must be on deck.

Your 20 truck is not CBN issue, just know there are bigger fishes with a sizeable amount in tb and not welling to diversify unless forced.

Akin3891:
I think so too, make we wait until we confirm from the horses mouth, cbn. After all, cbn made a clarification btwn OMO n tbs some days ago, having realized some people mistake omo with tbs

Don't doubt Punch reach, especially if you understand how the directive aligned with the CBN's 65 percent loan-to-deposit ratio.

I explained it here https://investorsking.com/no-more-treasury-bills-for-individuals-says-cbn/

Nigeria is an economy with 23.1 percent unemployment, it is normal monetary and fiscal policies are focus on stimulating jobs. Go and invest in the real economy.

The movie was just too basic to even be nominated for an OSCAR.

AtikuNetwork:
Even Nnamdi Kanu that stepped on many toes in igboland still got people that were willing to take the risk of standing as surety on his behalf, including those he had once abused publicly.

But for Sowore to be having this kind of problem up till now since he was originally granted bail, implies that he may have gone too far in his activities and lost a lot of goodwill amongst both friends and enemies.

People like you should be ashamed given your age bracket. The whole situation shows Sowore is a man of integrity and will not compromise even in captivity.

It also validates his integrity, he won't take it unless it is JUST. In your mind, you think a lot of politicians are not approaching him to help facilitate his bail?

Sowore doesn't want to be free only to be in captivity of some criminals because they aided his bail.

That is a man of integrity.

psychologygh:
go and feed your 200 million poverty capital of the world citizens. Do you know the meaning of trade.It goes two ways.Did you listen to the man.Ghana will rather block trades with Nigeria and rather trade with Dubai and Europe.Already trade among West African ECOWAS members is the lowest in the world. Ghana exports gold,timber,oil,manufactured products, etc worth 17 billion dollars and out of it,just 80 million dollars goes to Nigeria. So how does a few loss not even loss cos the products can be sold to Europe and China.How does 80 million dollars feed Ghana. Tell me.It's your own people that will suffer cos you can't trade among all these countries again and no imports and exports for them thus businesses and jobs collapsing in Nigeria. Food and goods more than double in prices and majority of your people can't afford such high inflated living.You can't even feed yourself thus closing all your borders to starve yourselves and you're ignorantly shouting that you feed Africa.Despicable words.

Your lack of understanding of market/trade metrics is hurting your projection of possible outcomes. Most foreign companies operating in Ghana are using Ghana as an access point to the Nigerian market given Ghana's stable electricity and relative calmness. In fact, several signed assembling projects like the Sinotruk International, China’s first heavy-duty truck manufacturer, planning to make Ghana it's West Africa hub will be canceled once they realised they can't access Nigerian market from outside. Nigeria is the most populous African nation with a consumption rate more than 20 African countries. This was why European pac with West African nations has not been renewed because Nigeria refused. Meaning, the rest of the region has little to no significance to the European nations seeking the renewal of the pac. Same way AfCFT agreement wasn't signed despite having 51 nations until Nigeria signed.

Again, why I agreed Nigeria will suffer at an early stage, especially when it comes to products it is not self-sufficient, it would be foolish to not acknowledge how this will help deepen its local market in terms of manufacturing, market structure, job creation, etc. Nigeria is a 200 million market that can't service itself, the move would help broaden the market, especially at a period when the Central Bank of Nigeria has increased Loan-to-Deposit ratio to 65 percent. Suggesting businesses will have access to more cash to commence backward integration.

It would be myopic to think Nigeria needs small markets, not up to its 6 states, to thrive. In fact, this traders' association knows nothing about international trade and power, if Ghana forged an alliance or do anything that hurt Nigerian interest it won't stop at the border. Gas for electricity would be stopped and several other benefits would be stopped to force decorum. Go and ask Mexico, Venezuela, Canada etc.

You should be grateful that Nigeria's leaders are old boys with zero economic fundamentals. In years, that might change.

bluefilm:
Add Iron Mike Tyson to the list biko.

How? Because he was broke doesn't mean he is still broke. In fact, he paid back $60 million in back taxes.

Mike Tyson owns more than 40 businesses that he needs a book to remember their names.

The name 'Mike Tyson' is a brand businesses pays millions of dollars to associate with. The weed him and his visitors consume per month is valued at $40,000.

Check out Tyson Ranch.

OChimex:
Hope AJ does get his belts back. But technically speaking, Andy is a more beast than AJ, very fast and has a rock chin.
He was a grace to grass story and those of that category always fight with their last blood considering the fact that life dealt with them and brought out the beastly mode in them.

AJ needs more and [b]more hard work [/b]because Andy will not be an easy fight.

Not so true, Andy grew up with everything and has started training since age 7. However, he needs something like this to crown years of sacrifice and dedication, something that scared people in his corner as he was always thinking.

AJ, on the other hand, started at age 18, became an Olympic champion 4 years later and World Heavy Weight Champion two years later. It has never been done. AJ that was almost sent to jail a few months to Olympic turned his life around via total dedication and a complete change of career path from bricklaying to World Champion with little training. He single-handedly brought boxing back and sold it to casual. The most endorsed boxer and one of the most endorsed athletes in the world.

Andy is not on the same skill level with AJ, he is only fast. AJ just needs to repeat Joseph Parker's style, fight behind the jab and move all night, he is too tall, too strong for Andy and move in for a kill towards the later round.

I don't see AJ losing to be honest. Two times World Heavy Weight Champion in the making... wait for it.

TissuePaper:
bro i hope your analysis is correct o, because i really want him to win

He will win. Boxing is 85% psychology.

AJ wasn't even sure of that first fight after Bigbaby Miller failed three drug tests. Andy was last minutes replacement and he was coming off a good win against a perfect opponent, Alexander Dimitrenko, just like AJ. While AJ was training for heavy bag Bigbaby.

But those adjustments have been made now, coupled with the pain of losing and media attacks. Andy wey no wan take rematch until Hearn stated threatening him? Baba that boy fit no show up at all and fake injury. Until he enters the ring, I no believe am.

Tyson Fury did the same when he was scheduled to rematch Klitschko, fear drove him to seek comfort in hard drugs. Don't forget if the fight happens, win or lose, AJ take home is about 100 million pounds, his highest ever. Saudi Arabia pay scatter to have the fight in their country.

ATTemi:
But let’s give it to him, he still won even with the deep gash to his eye.

I love AJ but I fear if he should meet Tyson fury, I never wan mention Wilder.

A real fan of the sport knows Tyson was gifted, the fight should have been stopped. 47 stitches? Now he needs plastic surgery yet the fight wasn't stopped? ESPN paid him $80 million to sign him, they need to recoup that money back. They will do so by feeding him to Deontay in February, knowing AJ-Tyson would always be UK's biggest fight win or lose.

ATTemi:
Can he beat Tyson Fury?

With Tyson's current form after Deontay mentally damaged him, Yes.

He wasn't sharp in his last fight, hence the deep cut, Tyson has no punch but extremely hard to hit but with that fading now coupled with additional damage he would receive from Deontay in February. I don't think he would be the same again.

I just think years of drug abuse, the rushed weight loss and decades of training have started hurting his movement, his main tool.

If Otto Wallin could catch him, AJ, Deontay, etc would hurt him, especially after that deep cut.

fairfora:
Hefty and well-fed guys. I still believe Joshua sold that fight. The end of the rematch would rest all doubts

Na so easy? He lost simple, he underrated Andy and couldn't recover from the punch to the head (concussion) in the third round.

But he wins the rematch hands down, even Mike Tyson says it was just a bad day in the office and he doesn't see Andy repeating it. A big very good guy will always win a small very good guy. A similar thing happened to Lewis against Douglas, that Douglas almost refused a rematch (like Andy until Eddie Hearn, AJ manager, threatens him with a lawsuit) until Lewis forced the rematch clause with a lawsuit.

AJ will now use his size, reach and power. Don't forget he knocked Andy down with a punch in round three (Andy has never been down until that round three), while Andy couldn't take him out even with a concussion until the fight was stopped in round seven.

A fit, ready AJ beats Andy 9 out of 10 all day.

They are fighting back, Niger retaliated with a similar sanction, bans export of rice to Nigeria.

https://investorsking.com/border-closure-niger-retaliates-bans-rice-export-to-nigeria/

Shibaraba:
I've come to notice that ladies with her type of lips are usually very proud, disrespectful and are chronic liars.
True most lecturers are hegoats, and there is need for them to be exposed but for goodness sake there are many ways to kill a cat. She Don do documentary. She Don win. Boniface Don nearly kill himself. Everybody Don know her. Congratulations. But na where she start to mention people come still add mama chat na there I know say something dey worry her.

Madam kemi dey craze we all know but na our hanty. No one disrespects our hanty for us. Telling her she is crying is plain wrong and shows the kind of abusive background she came from. The day wey you beat mad man na that day you go know say he get family.

Nigeria wey person dey kill another person because he no call am brother na him she dey do all these ones. I pity her. And wish her all the best.
Enu obow

I told someone immediately I watched the video that the part where she claimed to have dropped out of medicine because of sexual harassment was a lie, one she used in securing fund for the investigation. She showed her face, showed Mr. Boniface but couldn't mention the name of the lecturer given the extent she would go to expose sexual harassment in our universities?

While the whole investigation was a commendable effort, her motive was clearly different. Sharing her mother's private chat that she was proud of her and now blocking Kemi for saying she needs to be careful going forward? She needs spotlight she has it but the pretense and lies, No.

MrBrownJay1:
Illegally taking money to place bets on the outcome of sports event etc...therefore not paying any taxes to the money they are earning under the tables.

Not true, betting is illegal in Malaysia except you are in Genting Island and a few other legalised casino. Also, one can play online or some illegal shops that have managed to create inner rooms for players and CCTV to monitor police.

These particular boys were arrested at home in their apt. The government doesn't tax gamble, it is illegal, even in Genting Malaysians can't play, you will only see Chinese. Just don't be caught.

Adesanya is special

Adesanya, The Last Stylebender, is the most active UFC champion in the world at the moment and has fought 7 times in the last 18 months.

6 professional boxing record, 80 kickboxing record and now 18 mixed martial arts record, the Last Stylebender has finally proved everyone wrong and solidified his place as the one true champion of the division.

https://investorsking.com/israel-adesanya-is-the-new-ufc-243-world-champion/

This is really massive, I am still screaming. Nigeria everywhere you go.

AryaSand:
I had this argument with someone who said her GO fasted for 49days and 40nights without even a sip of water all through the 40days. Called her a bloody LIAR and she flared up. Lmao.
40days ko

They won't believe you. This thing has ruined a lot of poor people that believe the more you fast and pray the better your blessings.

I know someone that fasted way too much, the money no still come before she left this world.

Most of the guys behind these startups inflate numbers.

That Iyinoluwa Aboyeji is one uncontrollable fool.

Tayo Oviosu, Paga Co-founder, just warned Nigerian startups to stop inflating numbers to attract investors. How is it that none of these startups has scaled yet?

They are not profitable, flutterwave new partnership deal with Alipay, the world's largest payment company, boosted the company's evaluation from around $120 million but that number is faulty for so many reasons.

The deal is to facilitate payment for manufacturers/exporters, however, Nigeria is not an exporting nation. In fact, the number they added to their evaluation value because of the deal, they won't earn it in profit in decades.

naptu2:
2018

https://www.nairaland.com/4739365/meet-jude-igwemezie-biography-won

Spinning the same old story to get contracts in Nigeria. He knows they don't verify. But naptu2 you no check your DM?

Sirpaul:
According to the United Census Bureau, 4 percent of Nigerians in the US hold the Ph.D. degree compared to 1% of the general US population.
17% of Nigerian immigrants hold a master's degree and 37% have a bachelor's degree.

Total of 37 + 17 + 4 = 58% of Nigerians in the US are well-educated graduates seriously contributing to their economy.

Nigerians in the US are more educated than the general US population.


I weep for Nigeria

It is not up to 58 percent, don't you need a bachelor degree to get a master's degree and Ph.D.? 17 percent of the 37 percent BSc holders proceed to get a master's degree while 4 percent went further to get a Ph.D. degree. It is a pyramid, bigger at the base and gets smaller going forward.

wamiikechukwu:
I love your comments on nairaland... I just went through some of your comments.

you have a vast knowledge...

Thanks.

Flier:
They don’t normally release people that fast,his lawyers should have wait AtleAst a week before all these Noises
His lawyer said the DSS recieved the bail order 2 days ago so I think 2 days is not too much
anyway I am sure they are going to release him,they are dealing with a very experienced lawyer this time

Stop saying what you don't know. The DSS already filed another case against him, requesting to detain him for another 20 days but Justice Taiwo Taiwo said Sowore can't be detained any further until a competent court presided over the new charges. Therefore, he ordered his release to his legal counsel within 48 hours and demanded Falana provide him whenever the court needs him.

The DSS is now pushing for speedy judgement on the new charges so they can detain him for another 20 days, hence all the tricks.