₦airaland Forum

teewhydope:
lagos state>> cmd road, magodo phase 2, ikosi ketu area are all on band 1. the light is always stable so i can't complain, at least 160 hours out of the 168hrs in a week. The generator still looks new because the total days it has been turned on since i got it 3 years ago is not up to 14(2 week). The downside of all these is that i consume close to 100 units every month.

thanks boss.

teewhydope:
I can't even complain, i have close to 23hrs of supply in my area but the increase is too much

Which state boss, and area if you don't mind, I have been contemplating going to live in an hotel right. Haven't seen light since Easter Saturday.

Quick question to the construction experts in the house, why is that anywhere construction is on going in Nigeria both federal and state especially road construction, it's always the whites handling it. Don't we have indigenous black construction companies and black engineers? It's just a harmless question please.

[quote author=SonofElElyonRet post=129175520]So there's excess liquidity in Nigeria
Guess you mean they are still on their drive for cashless societ/quote] The 22 trillion Naira in ways and means printed is still out there, they need to find a way to mop it up.

Frangel:
Sometimes, our policy makers come up with positions that look somehow. Why will the CBN discount retained earnings of banks as part of their capital? I can understand some other/statutory reserves, but not retained earnings. Retained earnings form part of the interest of shareholders, which has been left to help grow the banks faster. This policy would require total fresh injection of over N4trillion as capital (long-term) for the existing banks to retain their licences/status as at date. Does this recapitalisation drive guarantee attainment of the utopia of a US$1trillion-economy?

Some banks already have negative shareholders' fund. This policy does not take into cognisance such precarious position, but just wants the bank to add funds to its share capital/premium to achieve the new target, which might still leave the banks retain licence with negative s/holders fund. Some magic! I think CBN should do more on the supervisory and regulatory front. A lot of benchmarks exist, so the banks that want to play bigger, within the regulatory frameworks, should plan and implement strategies to meet higher capital demands, not this blanket approach to forcing every bank to be big.

As it stands, the least capital injection required by a member of the FUGAZ group is about N230billion (Zenith Bank). Unity Bank with a negative s/holders' fund of N190billion, requires just about N184billion new capital injection to retain its licence (will still have negative N6billion) based on this recapitalisation policy. The new policy needs rethinking through. Does not look well formulated. Retained earnings, at least, needs recognition as existing capital for the banks.

My opinion sha.

It's simple, they actually are trying to mop up excess money in circulation, and also trying to attract fresh inflow of USD into the economy.

Sirtee19:
No Nigeria bank was among the 10 richest bank in Africa according to Bloomberg 2023 survey. The 10th one, People's Bank of Morocco has capital base of $28 billion, in which no Nigeria bank come close. Even if 5 biggest bank in Nigeria come together, they can't even come close.

that cos of our currency, I'm guessing SA banks dominates this list, check out the value of Rands to dollars.

Paraman:
You go explain till year 2500

He his right though, you see Nigeria is just a forced marriage, and the earlier we go our separate ways, the better.

Franzinni:
I have always seen visions like that since I was a kid but, my belief is everything that happens is supposed to happen exactly how it happens... Nature understands this, it's only humans that don't.

But to answer your question,

No, I didn't, I didn't even give it a thought because it just comes like a flash sometimes it causes my whole body to jerk and stiffen for a moment and then I return to normal.

Sent you an email bro.

Franzinni:
I saw this vision two days ago... While reading about the guy who fell from a ladder while working on electric pole.... It happened like a flash in my mind and here... Days later it happens... Hmmm

Did you pray to avert it.

MrBrownJay1:
https://www.reactiongifs.com/r/2012/09/slow-clap-gif.gif

wow just yesterday I was looking for where to download this movie, shootas.

nifemi25:
Early 2023 a cousin of mine was electrocuted by a sars officer at Ibadan. He was accused of been a yahoo boy... He was later dumped at one general hospital at Ibadan, where we later went to retrieve his dead body for proper burial. When we got to the mogue, lots of human dead body were litered around. About 400 corpes and they have all dried .. no matter how your heart is strong once you entered the mogue. You will surely have second thoughts for life

Pls how did you guys deal with the sars officers, don't tell me y'all left it to God?

cornelman:
I laugh at Nigeria when we talk about electricity, especially when Minister Adelabu talks. His knowledge of power sector is very low. I guess he didn't know that Nigeria needs up to 40,000MW to meet its load demand. Yes, DISCOs have problem but Nigerian electricity problem is not just about discos.
- From Genco, installed capacity is around 15,000MW, and they generate 4000MW or less in many cases. That's about 25% of installed capacity and 10% of national electricity demand. Not because, of anything but gas issue. Basing majority of generation on gas is a big problem. Diversify!

- At transmission company, the wheeling capacity- maximum their network can take is 7000MW, but they always claim it's 8000MW. Well, let's say 8000MW.
Now if Genco were to solve gas issue, and generate at 80% of installed capacity, say 12,000MW, can transmission deliver? No! else there will be a total comatose of TCN network. TCN network needs upgrade and expansion. Their system is weak already; and coupled with limited generation is the reason for many grid collapse witnessed in recent times. Their performance in February was terrible. Although, many people thought it's the Discos that decided not to give them supply.

- For Discos, by installed capacity, they can actually take whatever is generated up to 12 to 15,000MW. And that is why they have load shedding. They ration power supply to different areas. But they also need expansion to create more substations and revamp the existing network equipments.

The major problem with Discos is that they are private and want to make profit by all means, whether they satisfy consumers or not.
Some of their investors are just in for the money, not efficiency of their discos. A lot of them believes in ramping up revenue through estimated billing. This is where government has to do more in policy enforcement, not just making it. Estimated billing should be wiped out as soon as possible. All customers should be metered. The government should look into this.

Also, once estimated billing is eliminated, electricity subsidy should be removed so that Discos bill on cost reflective tariff.

Discos not offtaking all power available: Energy theft is rampant in Nigeria, and that is why most discos, choose areas where they give more electricity. Areas with more theft will see less supply because it's going to be a loss of revenue for Discos. They prefer to supply areas with less thefts and where they can get 90 to 95% of their money. There should be strictness on punishment for energy theft if things will change.

Again, Discos should be monitored. I mean well monitored and forced to revamp their network A percentage of their revenue should be mandated for upgrade. Most of them don't do upgrade, for them, it's all about the profit.

Customer rights should be given optimum consideration and it shouldn't be difficult for customers to report any form of right violation.

A lot has to be done in power sector, from making policies, enforcement and investments. TCN and Discos still need investments more.


-

Spot on with your analysis, 2 things you mentioned is inline with what I have observed, why do we have to depend on mostly gas to generate electricity, we are blessed with hydro resources in this country, also confirmed by Niger state governor the other day about his state having 90 dams or so, why can't we generate alot of of electricity using hydro, when are the government going to settle the issue with mambilla power plant and get the plant operational, I heard Otedola is building a transmission station in lagos, this will be good if it comes on stream, then again we need to wield the big stick against power theft and power infrastructures vandalism, and lastly stop electricity subsidy.

otipoju:
Instead of having 2,000 units supplied per year for 5 years,by one company why not do the same 2,000 units in one year with 5 companies.

5 years journey don cut down to 1 automatically. I am sure there are more than five top notch agricultural farming manufacturers in the world

Na emergency intervention nigeria need now

Instead of importing tractors, we can produce them here in Nigeria, just share this 10,000 tractors between innoson and proforce, and watch them deliver.

Fryx:
Don’t.


Don’t ever make the mistake of changing who you are to integrate into a circle that does not align with you by default. Instead, work on being the best in the circle that aligns with you.


I was once forced to leave my uncles care to hustle for myself. I found myself in an environment that is completely different from my personality. To survive, I have to adapt and start talking.

Bad decision. Very bad decision because it helped me nothing.

Sure, I was able to get them understand me with force. But, they simply just agree with me and they never understood me and are not completely happy with me. Last last, my relationship with them became so messy I had to leave.

Now, I was a very introvert that keeps my thought to myself. Zero social skills.

But the deal has been done. I have learn to spew my mind to the outer world. Not a good thing at all.

I think different. Very different (check my comments on this platform)

I have very different opinion and experience from people. It doesn’t make sense to share my thoughts with people because they can’t relate majorly.

I will be more respected and valued being my reserved self. But, I have become something I hate.


Till now, I am still hoping to completely be my old self. But till then, I will unfortunately continue being unpopular and weird.

So, never tamper with nature. You are your best as you are now.


Do this instead - love knowledge.


Don’t just love knowledge, take bold steps.


You don’t need courses to learn digital skills. Read, read, and read helpful free resources. The more you read, the more you know.


Practice then too. Yeah, it takes time without a mentor. But your experience will make you a mentor in the future.

Focus on what you know how to do best. The people that are not willing to accept you as you are now will never accept you, even if you change. They will even say you are looking for attention or trying to force yourself on them.

Don’t try it.
Love yourself. Believe in your self. Make books and online resources your best friends.

Those you are looking up to start somewhere. You don’t need them, it is not who you are.

Just be you, and stop caring about the rest of the world.


Get lost trying to make money online. You will, don’t just give up.

I had zero friend myself. And I get started with zero ₦. Had to do some odd job to get my first phone (which cost me 8k) and slowly, I ride up.

Do any other thing, but never try to integrate into a circle that does not love you.

Op best advice here, never try to change yourself, I was lucky I picked a skill while finishing secondary school, though I didn't get it at once, i kept falling and rising without anybody's input only my mom believed in my dreams till I finally did it, and I have never been happier, I'm proudly a sigma male and give all glory to God.

sammymax:
I seriously need advice as I really don't know what the right or best thing to do at this time. Please elders in the house be kind enough to suggest what I could do.

I did not think something like this can still happen in this era but this is what I have to deal with. So my mum flat out told me she does not like the girl I took home because she is not fine. About 3years ago when we went home together she told me this but I just disregarded it like when I'm ready she won't have a choice but to accept her as she is. To be honest she is not fine at all but she gives me peace of mind which I feel is the ultimate.

She was involved in an accident with my dad last year and we lost my dad in the process. During the burial I went home with my babe again and my mum still made her displeasure with the girl show.

The thing now is that I went home again to see how she is doing and she called to speak me again after stating that I had disobeyed her by not breaking up with the girl she said is still not having her and if I insist she is the one I should count her out of the marriage. She can never come visiting or even call her. She will not attend the wedding. Now I am 32 and she is 30

How do I navigate this situation. I plead for good advice. Have you been in a similar situation how did you handle it.

Op you sef don shade ur babe o

VeryWickedMan:
I don tell you, check SHG.
I'm trading as I'm typing.

What's SHG pls if you don't mind.

Zagee:
Good amount, this will support the naira to 900 or so if gotten. But they should allow me monitor my coins plix or I change country for them

Already planning untop bird wey still dey bush, binance will definitely appeal that.

ayoadekunle79:
I think the report should also include merging of the two House of assembly into one to save cost and reduce salary

God bless you, you said what's on my mind, we should scrap the senate, and the funds saved up from it spent on our teachers, doctors and LGAs across the country.

stcool:
Una dey talk anyhow....is Binance the problem of Naira

Okay now that they fixed the max sell price, Naira would drop to $1-NGN120

What you don't know, you don't know. Binance quickly acted to prevent issues with the government when they already started talking about a potential ban.

Boshins:
https://nairametrics.com/2024/02/21/naira-value-binance-confirms-placing-limit-on-usdt-ngn-trading/

Boom, way to go, binance and other crypto currency exchanges need to start fixing the daily price limit according to the official exchange rate, if they can't then they should be banned from Nigeria alongside every other crypto site, the speculation is to much, even BDC guy will check binance before giving you a rate.

Faiththatworks:
I believe EFCC is going down a very treacherous road in declaring this man wanted.
I just read on another thread where some legal luminaries where advising Asiwaju to find a way of resolving this Mambilla issue and EFCC decides to declare one of the parties involved wanted,this is a project that has been held up for more than 15 years.
Asiwaju should listen to the counsel of these legal luminaries and settle this issue once and for all.
I have to digress a bit cos I wasn't able to comment on a topic on another thread,it's the issue of government suspending binance operations in Nigeria.
I totally agree with this suggestion, although I'm devout user of binance in buying and selling crypto,but I totally agree that Government must as a matter of urgency sanitize operation on that crypto exchange.
I buy usdt a lot on binanace and also receive from some friends and I'm shocked with the way the Naira is always devalued almost on a per hourly basis.
What's driving the prices on binance, who's the individual that determine the exchange rate of the Naira to any crypto,what algorithm do they use,what economic indices do they follow.
Seriously I suggest if binance can't peg their exchange rate to the official government rate,then they must stop operations in Nigeria.
This crazy economic sabotage by invisible people must stop,like I said I'm user of binance and I have evidence of the funds I receive on the exchange but enough of the manipulation going on.
God bless Nigeria........

Your suggestion at the bolded is the best way to go now, binance should set the rate on the P2P daily according to the official market price and same with the BDCs operating within the country. It's the work of saboteurs trying to undermine our naira at work, i use binance alot also, 2days back it was 1,700, yesterday it was 1,800, before the end of the day it will get to 1,900.

The 24 elders are made up of the patriarchs of the 12 tribes of Israel, the 11 disciples of Jesus and father Abraham replaces Judas Iscariot, I'm sure quiet a number of spiritual inclined folks know this already.

Deogratiasfx:
It simply means allowing the forces of demand and supply to influence the currency value as against CBN having a fixed the exchange rate.

It is the most realistic but it takes a smart government to take advantage of it. Hence, exports become cheap and imports become expensive.
People who export make so much because u bring in hard currency but when u import, u use ur huge money to get few things.

It's supposed to be the best thing, but look at Nigeria, we don't produce anything, even the few we produce, where is the light to operate machines?

machine606:
Rip to the entire NGX. So painful as his family was even involved.

Speaking about broking firms, permit me to register my account/ordel with @meristemng.com. I could remember some months back, a customer called out @meristemng, withs accusations of fraud. I was like a whole meristem, because of how much? He received retributions with some few defending the firm.

Well, it is what it is, @meristemng is now dubious to put it lightly! Someone reached out to me about shares stuck since 2008 with no dividend paid. I use Chaka (since 2020), recently opened another with Investment One (although, charges no be here oh). I referred him to either @meristemng or Cordos. Due to the prompt response from @meristemng, I adviced him to opt for @meristemng. They sent mails on how to open an account insisting on minimum of #10000 opening amount. He did so around October 2023. I personally facilitated the filling of forms and took it upon myself to mail @meristemng. Reason been, this was a business man with little or no knowledge of stocks. There where host of others waiting to rectify same issue. But I asked them to wait until we sort that of the first person. Due to trust, I was granted access to email account and other sensitive information/documents. But @meristemng is about to bring a crack (which I invisiaged, if all things remain same).

Fast forward to third week of January 2024, @meristemng is yet to create an account or communicate on it. I am aware account opening takes about 3 days once all documents needed is provided. Yet this is over 5 months now, yet no comment. I recently requested that the amount be refunded and account opening request aborted, yet no refund till date. While, the person in question might not mind the #10000 involved ( he was even opting I transfer about 150k to open the account), my integrity might be on the line, as i was the one that did all transctions. They only sign or send OTPs to me.

So abeg, is @meristemng still ALIVE? In my last email I copied even SEC just to pile in on any complaint from other customers affirming this attitude of theirs. Having used Chaka with little funds over a year, I ditched the thoughts of opening an account with @morgancapital. InvestmentOne was basically for long term plays and possible access to loans in the future.

What should I do to get a refund. This is one reason I run from overrated big firms.

That's why I always shake my head anytime they are recommended here, big firm with terrible services. My account with them has been abandoned, never again.

Mankind2024:
Did Buhari go after gej?
Did gej go after Yaradua?
Did Yaradua go after Obasanjo?
Did Obasanjo go after Abubakar?
Did Abubakar go after Abacha?
Did Abacha go after Babangida?
You will go after predecessors tirelessly without any evidence.

I will say this again, where there is a will, there will be a way. Nigeria and Nigerians have descended so low, that our values and morals as people are been eroded daily. look at church members kidnapping a parish priest, family kidnapping each other. We need a law to spell out and dish out heavy punishment for crimes including stealing of government funds. But the guys in power do they have the will to do these things? Absolutely no, why? To much vested interests.

essentialone:
back to back warning yet Tinubu is playing politics with hunger in the Land.


Prof Yusuf Dankofa wrote this on 5th Feb 2024, 17hrs

Read on :

"But they said they are the whiz kids from lagos

That the magic of lagos was going to be reignited at the federal level

Eight months after,it is ebin kpawa

What really happened

Where are the heroes of lagos

What is on the ground shows that the policy makers from eko do not understand governance

The policy flip flop has created a condition of acute poverty

Just like one commentator said,only those in the corridors of power are smiling

The rest are facing armageddon,a state of calamity and brutality

The politics of the land is toxic as only lagosians are in power, while the other "O" states are lamenting

Cronyism and inner caucus have betrayed the movement

Emilokan movement is so ordinary and bereft of ideas that grand old Buhari that spent eight years junketing is even perceived to be better.

So, Emilokan is about the fulfilment of personal ambition

Even the Imams that were shouting Muslim/Muslim tickets are busy gnashing their teeth

They have now become wiser its a hoax

Now they can't go for pilgrimage because they don't have N5M

Where will they see the dollar

Who dash monkey banana

No politician is even visiting their mosque anymore

Even Mr. Vice President has become a motivational speaker

He is busy admonishing Nigerians to be of good behaviour since leaders who are to turn things around have lost ideas

The ideas that were robustly generated during electioneering campaigns have vaporised into thin air

Now, the singsong by the talakawas is hunger

Our currency is as worthless as a river that ships cannot navigate

You need a bagco cement sack of naira to seek $300

The economic gurus of lagos have been turned into ordinary finance speculators

All those spotless suits and Oxford shoes are just abracadabra

What happened to years of study at Harvard and Yale School of Economics

Social media have been laughing at them

Even Zimbabweans and South Africans are having a good laugh

South Sudan,a country as poor as anything, is poking Nigeria

Pls where is the Save Nigeria Group

Where are Professor Wole Soyinka and Pastor Tunde Bakare that gave Jonathan nightmares

Where are all the lagos musicians

Where are the Kuti brothers

Have they forgotten their fathers lyrics

44 sitting and 99 standing

This is when the talakawa need them most

Have they forgotten their Uncle Dr Beko Ransome Kuti

Where are the offspring of Late Dr Bala Usman in this respect

And where are the Professor Pantamis of this world

That cried and prayed that the Jonathan administration should be changed

And what has changed today

And why are there no prayers to the Almighty that the poor should be rescued

The Lagos politicians have failed the people

They boasted that it is about brains and not brawl

This is the regime of the most educated people in Africa

What a paradox"

I saw this yesterday, and all I could say is bloody hypocrites. We are enjoying the dividend of 8 years of Buhari's maladministration. How could the writer say even old Buhari's was better?

Nairalander640:
Meritrade still the best i can recommend for now,
visit meritrade.com

Hmmmmmm

DeLaRue:
You think so, but that's not the reality.

There is a pain point at which demand for many imported goods will fall fast. People will simply start buying less and less of them. Whether that pain point is at N1500, N1800, or N2000 to a dollar, I don't know.

But the CBN will have the data. They know. If N1500 doesn't stiffle imports to the level they want, I suspect the CBN will not mind seeing naira close to N2,000 to a dollar.

In some ways, it is to the credit of Mr Tinubu's administration that it is willing to follow this extremely tough path to redirect the economy from import-dependence to greater local production. For a politician facing election in just over 3 years to follow a path that may not show positive results for a few years, is truly brave.

The Nigerian economy was heading for the rocks after over 40 years of mismanagement. Tough decisions are needed to correct long term over dependence on imports.

That naira/dollar pain point is the point at which local production of certain goods starts becoming more viable than importing the same goods. This should translate to us producing more of what we need locally. This will lead to more job creation, less pressure on the naira, and a stronger, more balanced economy in the long term.

But this approach comes with a lot of economic pain initially, as the country is witnessing now.

That's the theory o.

Whether things happen in practice like I stated above is a different matter, because Nigeria's situation often defy economic theory.

but how do you produce with poor electricity? Diesel is no longer viable for producers using generators. Incase you haven't noticed power supply as been nothing short of terrible immediately after Christmas.

emmanuelewumi:
Some of the people attacking you are aware of this very old trick and they also use it to deceive the gullible into illiquid stocks

I guess he did hit a nerve with that.

Laso09:
One major problem with the current forex crisis is lack of clear guildlines on forex transactions which has led to all manner of onorthodox practices.
A high percentage of diaspora remittance are not actually getting to the country.
How could someone be in London or newyork and be exchanging pounds or dollars for naira with the dollar and pounds not getting to the country.

The bolded is a big issue, imagine a Nigerian company having it's offices in New York, all in the name of attracting VC fundings, another issue is binance and co, most people now quote rates based on binance, even the aboki selling dollars on the street.

ositadima1:
Top companies in the UK

Energy:
Shell (SHEL): Oil and gas
BP (BP.): Oil and gas
National Grid (NG): Electricity and gas transmission and distribution


Pharmaceuticals and Biotechnology:
AstraZeneca (AZN): Pharmaceuticals and biotechnology
GlaxoSmithKline (GSK): Pharmaceuticals and healthcare


Financial Services:
HSBC (HSBA): Banking and financial services
Lloyds Banking Group (LLOY): Banking and financial services
Barclays (BARC): Banking and financial services


Consumer Goods:
Unilever (ULVR): Food, home care, and beauty products
Diageo (DGE): Alcoholic beverages
Reckitt Benckiser (RB): Hygiene and household products


Retail:
Tesco (TSCO): Groceries and general merchandise
Sainsbury's (SBRY): Groceries and general merchandise
Marks & Spencer (MKS): Clothing, food, and homeware


Telecommunications:
Vodafone Group (VOD): Mobile telecommunications
BT Group (BT): Telecommunications and internet services


Others:
Rio Tinto (RIO): Mining and metals
BAE Systems (BA.): Aerospace, defense, and security
Rolls-Royce (RR.): Aerospace and engineering
BHP (Mining and Petroleum)
Aveva - Engineering and industrial software.
ARM Holdings - Designs semiconductor and software technology, acquired by SoftBank Group


Just a few top ones with global presence.

Rover, producers of the popular range rover line of vehicle, Airbus in partnership with 3 other countries.

Viper attack helicopters? Why not Apache instead, each unit of Apache cost about $50m, getting 12 at about 600m dollars would have been a good one along with some MQ reaper drones to complement the fight against crimes.