Tundebasic's Posts
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ttmax09:If tithing is your way of giving, then, it is okay, but you also mentioned that it is not compulsory. So why are pastors hellbent on it? Some even argue that Jesus Christ will not recognize one who does not pay. |
rexbuton:There is nothing wrong with your family. Your wife is also not a bad person. She asks you to contribute 50% of whatever she wants to send to her parents. You can tell her you only have 40% at that point in time. You nor wan send money to your in-laws ni? About tithing, she's also right. What is family tithing? Even as a family your tithe is 10% of your income, her's is also 10% of her income. If you're tithing it doesn't concern her. But for your winnings, you can just buy something for her as a gift, but you can use everything for your own projects, or for family project as you like. |
I've looked around for sometime now since I lost my job. Actually, I am seeing businesses around, but the feedbacks I'm getting from business owners show that starting a business in Nigeria today is not as easy as it used to be. In fact, there was a report that the level of productivity in the country has declined seriously. I need mentorship to start a business. The business I'm looking at should have low barrier to entry and low start-up capital. My aim is to study a physical business that I can learn from a mentor within 1-4 months max. If you you are a business mentor or would like to mentor me, Iet me know how to get in touch with you. |
bewla: |
onumadu:1. Destroy the child's life because the child does not have a father? 2. So, men should clap for their wives and welcome them with open arms when other men sleep with their wives? 3. About the welfare of the innocent child: Even children without both parents still survive. Moreover, the reponsibility of taking care of the child now rests on the mother. If she needs financial assistance, all she needs to do is to take the child to the real father. |
mrvitalis:Alright. I'll do and give you a feedback. |
mrvitalis:You tried, and I see what you mean. However, you still don't get it do you? So, I went to a friend's company that manufactures animal feed recently. Using your analogy, he has 50kva generator, and other machines. Now, for starters (at current prices), let's say 50 kva is 4.9 m, He pays 3 m for rent, raw material (corn is 540 k per ton), the milling machine itself is about 9 m now. Funny enough, his target was to make a measly 300k monthly profit! Note: obviously, he needs to buy more than 1 ton of corn and other materials or inputs to make 300k profit monthly. Now already, the above sums above 17 million naira for a company targeting 300k monthly profit. Funny enough, the costs of daily diesel consumption has not been added. Cost of acquiring gen alone is almost 30% of the total cost for starting the factory?! I get you, but for a low income country like Nigeria, we still largely need stable and subsidized electricity to boost productivity. |
mrvitalis:In essence, you are telling me that 4x the minimum wage in my country is not enough to provide me with stable electricity 🔌. Can you tell me any other country in the world where 4x of their minimum wage is not enough to pay for basic electricity usage? |
mrvitalis:Do Nigerians have electricity? Abi what have we been clamoring about since? So, a country of 200 million people generating less than 7000 mega watts has electricity? In comparison, Angola generates over 1 giga watts? Do you know my income as a Nigerian? If I earn 120k monthly, at the current exchange rate, $15k is around 18 million NGN. It'll take me 15 years to raise it. |
Zxcvbnmghtr:The problem is not [for] existing factories. People keep making that mistake. The problem is for upcoming factories or people who were planning to start new production lines. The costs of manufacturing and production just increased. |
mrvitalis:I've read so many comments from you today, and I'm awestruck! 1. Electricity is not a human right? Well, while it may not be a fundamental human right, it is a derived human right. 2. Electricity is not needed for development? So, can you tell us what is needed for development? According to Forbes: A lack of energy in the form of electricity fundamentally restricts the development of many countries. Access to electricity reduces poverty, increases opportunity, and improves health, productivity and living standards. So, how do you think we can reduce poverty, increase job creation and opportunities, and improve health care, and living standards without electricity? 3. You are separating access to electricity from electricity itself. I believe they are the same. 4. Nigeria is one of the countries with cheapest electricity in Africa as at 2023 (top 10 at $0.03 USD), but now in 2024, we are among the top 20 costliest country in Africa with this new tariff (at $0.15 USD). In your own opinion, what justifies this increase? |
Giftedheart16:Damn, this story! You were a bit slow. You should have gotten the contact of the lady from the Health Authority since you are under cover. You have a lot of evidence including the payments made to you. You can also get more evidence from the pregnant woman you mentioned, and the new secretary. This one should not be swept under the carpet o. So many wrongs in this story. So, the husband & wife are not even medical practitioners?! Also, you did IUI not IVF, which means it was your child that was given to someone else (I'm placing both hands on my head in exclamation)?! Consult a lawyer for legal advice on this matter, and you need to do this ASAP. |
Jewessgratitud3:Go to a good clinic and let them refer you to a standard lab for full stomach scan. It's probably fibroid. |
EreluRoz:Do you want to be a full-time house wife? Why must your man be down or broke before you sort bills? What is the place of kindness, unity, and mutual benefits in a relationship? Will you be able to carry your babies all alone (at every time of the day) till they grow to become teenagers without letting their dad carry them even for once? |
Amunesteve: |
darediamond:Hello bro, I want to learn about mechanized cassava farming. If you are in the southwest, maybe I can come. Otherwise, if you know any farmer's association that deals with cassava cultivation, I'll like to join. Hoping to hear from you. |
One of them probably lost a very important family member, few days to the wedding. |
Stomoney:Thanks so much my man. I appreciate this feedback. |
Stomoney:Hi, please where in Osogbo can one get steady (stable) electricity? I'm currently in Abeokuta but I'm planning to relocate to Osogbo because of electricity. |
Singlesingle:Let's connect. You can reach out to me via WhatsApp (check the number in my signature) or via email. You can check your email for my connect request from Nairaland. |
This is just a personal opinion, because I am not an expert in economic matters; I am just a freelance analyst of the Naira currency trend . The idea is to stop the free fall (devaluation) of the naira. First, I will say the Central Bank of Nigeria (CBN) has been proactive. In the immediate past administration, it proposed many policies towards the stabilisation of the naira. My concept towards the stabilisation of the naira will be based on an existing framework from the CBN—using the E-Naira . Note: E-Naira is a digital currency. It is not a cryptocurrency. Hence, we should use a stable value. Thus, my proposed solution is "The Managed E-Naira Value Chain System." So, let's dive in: 1. Following this concept, the CBN will create a digital platform (software, app, web, mobile) where only the CBN sells the E-Naira. 2. The CBN will only sell E-Naira to BDCs and IMTOs. Now this is where it gets interesting: 3a. Instead of selling dollars to BDCs, the CBN will sell E-Naira to BDCs, while BDCs buy E-Naira from the CBN with dollars. 3b. IMTOs will have to get hard currencies from their customers and exchange/flip the hard currency to E-Naira, which can only be obtained from the CBN. This means IMTOs, too, will not be allowed to exchange e-currencies for Naira directly. E-Naira will be adopted for FX transactions through IMTOs and BDCs. 3c. Now, for this concept to work, the operators (buyers of E-Naira) will be regulated by the CBN (only IMTOs and BDCs should be allowed to buy E-Naira). Also, the exchange rate (value of dollars to E-Naira) will have to be regulated or managed by the CBN. 4. The CBN will have to reintroduce Form A and Form M for people to fill in for dollar requests since dollars will no longer be available for purchase from BDCs (BDCs will be using dollars to purchase E-Naira). BDCs will get dollars/hard currencies from customers while using the dollars to purchase e-naira from the CBN. 4b. Filling out Forms A and M will help weed out currency hoarders since requests for important FX will only be granted. Moreover, even if they lie, they can only change the dollars through a bank (directly to Naira) or BDC (via E-Naira). 5. When a customer brings hard currency to a BDC for exchange, the BDC will collect the dollar and send an equivalent amount of E-Naira to the customer's e-wallet. E-Naira can only be exchanged for Naira on the CBN E-Naira app. 6. Also, customers of commercial banks will be allowed to exchange [physical] hard currencies for Naira without going through the hassle of the CBN E-Naira wallet. 7. Commercial banks will not be allowed to sell e-currencies to BDCs. Instead, the commercial bank will give a monthly account of the dollars in its coffers. With the total amount of dollars in the banks, dollars received from IMTOs, and dollars from BDCs, the CBN can plan how to give dollars to people who need them (they filled out Forms A and M). This will help weed out currency hoarders. N.B: Check the table below for an illustration of this concept.... How to deal with non-compliance in BDCs and IMTOs: 8a. E-Naira should be restricted to BDCs, IMTOs, and their customers using a CBN E-Naira app. 8b. A BDC shall only be in operation if it consistently purchases E-Naira from the CBN. 8c. IMTOs too must be mandated to purchase E-Naira if they must deal in naira. Any IMTO not willing to purchase E-Naira (with dollars) should stop dealing in the Naira. 8d. The CBN should monitor the accounts of every authorised BDC. Any BDC that does not purchase E-Naira in 2–3 months should lose its license or be suspended. 8e. IMTOs should allow people to exchange their hard currencies for E-Naira, which the customers will convert to Naira on the CBN E-Naira app. Banks should not be allowed to exchange, buy, or sell E-Naira. It will only be made possible on the CBN E-Naira app. How this will stabilise the exchange rate: 9a. Remember that IMTOs and BDCs are buying E-Naira with dollars? They are also only selling E-Naira to customers (since they must use dollars to get E-Naira if they still want to be in operations). 9b. So, if a BDC pays a customer N1,700.00 for $1.00 since the BDC will purchase $1.00 worth of E-Naira for N1,300.00 from CBN, the BDC will make a loss of N400.00 per dollar. 9c. Also, if a BDC increases the price of its E-Naira from N1350.00 to, let's say, N1800.00, the customer will not buy because they will only be able to exchange it for N1,350.00 on the CBN E-Naira app. The customer also suffers a loss. How this helps the bank: 10a. This means banking apps can convert FX earnings directly to Naira. Many would prefer to exchange directly to Naira without going through the hassle of E-Naira. 10b. IMTOs can use the CBN E-Naira app API to determine the volume of dollars needed to purchase an equivalent amount of E-Naira when a customer requests an exchange. 10c. Otherwise, an IMTO shall determine the average monthly volume of dollars flipped/exchanged for naira on its platform. An equivalent amount of E-naira shall be purchased monthly by IMTOs exchanging dollars for E-Naira. How this tackles round-trips: 11a. Dollars obtained from outside the banking system will be brought back into the banking system. 11b. Using the Form A and Form M concepts, dollars will no longer be sold/given to individuals. However, the CBN will use a managed lending model for dollar buyers. Where dollar buyers in Nigeria must have a blocked account [more on this]. 11c. Also, hard currencies will not be given in cash to people who own domiciliary accounts. They can use cards, transfer, etc. But for withdrawals, they either convert directly to Naira (through banks) or use E-Naira (through BDCs/CBN E-Naira app). 12. This is just a brief introduction to the concept, as further approaches, information, and references will be discussed with policymakers. Summary CBN should stop selling dollars to banks and BDCs. Instead, it should buy dollars from them at a controlled price. Anyone who needs dollars should get Form A and Form M from the CBN by applying through commercial banks. |
amakanancy:I like your optimism. But, if they could raise it, they would have done it without announcement. Also, someone that wants to raise 10 naira would first raise 1, 2, 3 naira and you would have seen the person is capable of raising 10 naira. The last time this administration raised $3bn you can check how they did it. |
Quiteparrot:You have to comfort yourself because you are not alone. I was working remotely. Towards the beginning of this administration I converted all my [little FX] earnings to naira thinking this government will just be blocking naira indescriminately, and I can also cushion whatever comes since I earn in FX. So, I fixed the naira in Tbs thinking worst comes to worst, I can buy my FX back within a year. Unfortunately, I lost the remote job, and my naira is extremely worthless within 9 months! Just waiting for the TBs to drop next month and I find my bearing. So, you are not alone. |
Origin:Well, it will be patriotism to buy local goods to grow the naira. Rather, unfortunately, in Nigeria, local goods too depends on dollar exchange rate. Garri went from 2k to 7.5k here per basin. Local rice went from 7500 to over 50k. A palm slippers went from 6k to 15k. Cement went from 2.2k to 10.5k. Are these not local goods? Funny enough, the government even plans to make cement cheaper by allowing importation of cement. Something we produce locally. Doesn't that tell us something? Nigeria's economic policy would require a unique approach. |
malali:Unfortunately, forex hoarders have increased. Most Nigerians that were unaware or unconcerned about the naira-dollar disparity are now aware. Also, diasporans now understand they make loses by investing in naira. Honestly, I don't know what this government can do. But borrowing dollars to stabilize naira to dollar exchange rate is a short-term solution. |
mrvitalis:E Even if the CBN borrows money to stabilize the naira, it will not work now. The value can drop briefly, but it will still go up due to free floating. Borrowing to stabilize the naira can only work if the naira is pegged/fixed. The official market can be controlled while the unofficial markets will be managed. |
I sing this song very often too: "The sun that rise in the morning is the sign of hope for a brighter day. The sun that sets in the evening, brings forth life in abundance Yes our is life In every born child Yes our lord is hope He makes our dreams come true..." But, I didn't hear it from any movie. I think I learnt the song while in primary school, which was way before 2012. |
skydiver01:Thanks so much. I appreciate this information. |
skydiver01:So, sir, if I may ask, which channel, app, or investment companies do you use to access foreign currency denominated investments from Nigeria? |
Your aunt plans to resign when labour is working with the government (FG) to increase salaries? 1. She can wait to see what labour works with the government before considering resigning. 2. She should check out if she can get accommodation close to her place of work. 3. She needs to make a plan with her husband on the best way to solve the accommodation problem. |
End that relationship and go find yourself another man. He is your first. How many people even marry their first? There are many young men out there looking for who to marry. Forget this one and move on. |
Are you planning to travel out of the country and you need capable managers to lease your factory to? My client is actively looking out for a factory on lease. If you have a factory and you want to lease it out, then you can contact me as I have a client ready to partner with you. The factory can be any of: 1. Bakery (specifically bread) 2. Table water 3. Restaurant 4. Furniture 5. Sawmill 6. Food and beverages 7. Others Check signature for WhatsApp. |

