₦airaland Forum

ActiveFarms:
When would Nigerians youths develop strong critical analytical, reasoning and thinking skills. When ? You mean to say once government releases any info, you take it hook, line and sinker without any critical evaluation just because of your ethnocentrism and bigotry. Smh. Shame on your education, a cocoa farm would have yielded better rewards . How can you read financial news without financial stats and proofs and you absorb it hook, line and sinker. Does Nigeria in any way have the means to generate extra One trillion Naira to the national budget let alone 30 Trillion Naira? Use your sense man. You can't keep delegating your education to us


Now to educate you, Ways and Means was converted to bonds, transferring the debt burden to Nigerian youths to bear the burden yet again for so many years in addition to existing loans by converting them to bonds doesn't mean it was repaid


Where and how does Nigeria have the means to repay 30 Trillion Naira overnight. Do you people hate yourselves so badly all because of bigotry. Tueh



Now if the Ways and Means where cleared the first thing to have done was not to take loans but to bring back rationalized subsidy. Meaning subsidize like a quota per day now that we have approximate measurement of the fuel we consume. Subscidize fuel for two years. Use that two years to build twenty modular refineries. Grant small scale refineries setups and have fifty refineries in two years. Then peg the dollar to Naira to 1,000 Naira exchange rate over the two years period using Ways and Means to peg against the exchange rate.


This would instantly drop the prices of things by at least 100%. When we ask you people to support we mentally sound people to places we will make better decisions for you guys, you would refuse. Nigeria only needs sound intellectual management which your leaders lack and followers like you too

The moment I read the word "peg" in this your comment I discerned that you are an armchair critic. Which sound economist will tolerate the word peg. That's irrespective of economic performance the figure remains the same.

Man tone down. It looks easy outside but not that easy inside.

PantShifter:
E no concern me but I just dey imagine the kind energy that will be required to fùck the woman

Ashawo man

Racoon:
Why are these men always praying the Lord God Almighty to protect the sheepies but always goes about with endless armed-to-the-teeth retinue of security agents?

It's not about people harming them but they will not be allowed to freely move because of the crowd.

ivandragon:
Go and ask dangote that said the price of fuel in Nigeria is too cheap when compared with Saudi Arabia.

I am not here for shenanigans.

ivandragon:
The price of a regular low end motorcycle in saudi arabia is about 5000 SAR. So a person on minimum wage in Saudi Arabia can get such bike with maximum of 2 months salary if s/he uses all the wage to buy a bike.


The cheapest motorcycle in nigeria cost around 700k. So a person on minimum wage in Nigeria needs 10 full months of salary to buy the same bike a person in Saudi arabia would use less than 2 month's salary to buy...

Can you see that the joke is on you?

You are having laughing gleefully that the minimum wage in Nigeria is nothing to write home about and isn't that the point sane Nigerians are making?

The government wants Nigerians to pay prices for goods equivalent to foreign countries but does not want to pay commensurate wages.

Good and very good hence you want to be comparing Nigeria and Saudi Arabia. I wasn't looking a long that line. Now let's go.....an employer pays his employees according to his income. What is Saudi Arabia most recent GDP, balance of payment and foreign reserve? How much is Nigeria's.

ivandragon:
So people who earn minimum wage cannot purchase motorcycles that use fuel?

You can see that it was your thinking that was flawed hence my response to you.

🤣 Hahaha...How much is annual income of #70k per month monthly income earner and how much is the price of a motorbike? How many years will a minimum wage earner save all his income (without spending one kobo) be able to buy a motorbike?

VeeVeeMyLuv:
There's almost nothing like cheap public transportation system in all the APC regime since 2015 including this present one.

There has never been any cheap transport system in Nigeria. Please when I write I don't like mentioning parties. I belong to none and I support none.

ivandragon:
Do you have a brain block stopping you from doing your own analysis?

I was commenting directly to topic, so I don't know what your question about owning cars or not is all about.

Even if this is a faceless forum decency demands that one must watch his language. I only just pointed out that your logic is flawed.

You talked about landing cost. How about other charges and seller's margin before you arrive at the pump price? DRL might be cheaper after all.

VeeVeeMyLuv:
Saudi minimum wage is 4000 riyals

1 riyal = 444 naira

Saudi minimum wage in naira is 4000 x 444 = 1,779,086.93 naira!

Nigerian minimum wage is just a paltry 70k that they are yet to implement.

And you want somebody in Nigeria to pay the same amount for petrol those in Saudi pay? Haba Alhaji

What is the cost of living of the two countries? Accommodation, food, groceries, etc. A man that is paid 200k by a company in Enugu if the same company transfers him to their branch in PH the 200k will not sustain him.

ivandragon:
Hmm...

Most of these analysis that requires conversion from one currency to the other are often misleading and negate what truly matters, which is the purchasing power of the common man, primarily, the least paid workers.

A straightforward analogy which makes more sense is how much fuel can be bought with the minimum wage?

The average minimum monthly wage in Saudi Arabia is about 4000 SAR. PMS averages at about 2.3 SAR per litre. So 4000 SAR gets you about 1700 litres of PMS.

In nigeria, with minimum wage at N70000 and pms averaging N1000 per litre, your minimum wage gets you 70 litres of pms.

Case closed. Any other calculations or conversions are just exercises in futility because the purchasing power of the masses in any country is what matters most.


Look at USA. Average minimum monthly wage is about $1200. Average pms price is $1 per litre. So minimum wage in USA gets you about 1200 litres of pms.

People that earn minimum wage do they own cars? You should be talking of efficient and cheap public transportation system.

clarocuzioo:
This Lagos wey we dey so? 60 percent of the hotels in Lagos are going out of business.

Show us proof.

bluepreek:
Two international pastorpreneurs who have mastered on how to enrich themselves while their puppets keep on languishing in abject poverty

I'm sure that you aren't referring to adeboye or oyedepo because I can't see puppets in their churches. They are heavy weights. Rccg is in over 120 countries in the world. Are they all puppets?

naijaking1:
2 con men.

What did they steal from you?

PantShifter:
But this woman fat o, how Fubara dey take carry am?

E concern you?

placeofallure:
Hmmm! Priests are no saints. Many of you normal people are more saintly than them at times. One is seriously asking me out these past few weeks and was baiting me with a Christmas in Dubai if I accept and I wonder if I've been talking to a clergy.

If this one has apologized, the family should just accept and see it as one of those things. He is human after all.

When you accept will you come and tell us?

Mrfixitt:
Dangote and NNPC are not being sincere. Why is it hard for dangote to disclose the actual price of a litre of fuel ?

Have you gone there to buy and they didn't tell you?

fkelly:
tinubu was governor, senator etc, his wife was a senator, Wike minister, oshomole Governor, the list continues, aren't these the same criminals?

The criminals included Peter Obi. I'm just following what you said ooo

Macphenson:
Cardoso will intimidate the Dollar with his towering height - Rotus.

Tinubu will handle economy, Shettima will handle security - Agbado Miscreants

Yeye dey smell.

There is heavy servicing of matured debt. It affects fx outflow. This is one of the prizes that this regime is paying for the sins of the past.

fkelly:
life was better when thieves where ruling, now that saints, bishops, imams, and prophets are ruling person one die

They stole all then and there's nothing left for today. That's why person wan die.

Racoon:
Even Tinubu’s incompetent and redundant Ministers are really ashamed of the so called achievements they may want to market to the citizens suffering the burden of his useless godforsaken government.

Meanwhile, workable achievements does not needs any Minister to market if a government is doing great. They are just milking Nigeria with him because they are opportunists. Tinubu government is a curse.

This government is a reformist government. All reformist regimes bring pain first but lay the foundation for future greatness. It takes boldness to do this because you will not be in the good books of many of the citizens. The easy way out is to continue the old order but mortgage the future.

athaboi:
A foolish Yoruba Muslim
No doubt

Hahaha.... enjoy your gutter language. Hahaha 🤣😂. So anyone that is against your opinion is a Yoruba Moslem. What a brain.

This is the way to go.

CommonSense1967:
I'm glad President Tinubu is giving the EFCC free rein to conduct their business as needed but the EFCC boss seems to be power drunk.
YOu declared someone wanted, if the person should show up at your office, you are expected to arrest such person regardless of who accompanied them to your office.
There is nothing wrong with being accompanied to a police or law enforcement station. It is done all the time.
The EFCC boss should concentrate on his job and leave propaganda for social media content creators.
Bellow was wrong for evading arrests with all sorts of tactics, but once he showed up, he should have been arrested right there.

You are wrong. He held the hand of the current governor who came with his full security details. Any attempt to forcefully take him from the hands of governor might result in shoot out between the efcc and governor's security details. Is efcc car park the same as efcc office?

Kenobsky:
We that collected 12k in this scheme are far more better than they.
I will not allow my son go to this Akruka scheme.

You collected #12k under the scheme and you are writing "far more better" Please refund your allowance to fgn.

iwaeda:
Dangote lamentations is far more than Jeremiah. If NNPCL is not selling crude, go to Ghana,,Sa Tome, Sierra Lone, Angola or Algeria. The more you know, the less you see of this refinery.

That's what he has been doing to produce diesel and aviation fuel. The present petrol that he has been supplying to nnpc was from imported crude. If he does this he's free to sell Nigeria at any price. You will complain to high heavens.

AlphaNugget:
No, blame it on the government!

No fûcking job and people are suffering!!!

Join him na. It's get rich quick syndrome jare.

dinomalaiye:
Baba you will name the people you're referring to. We know some but let's pretend

Is he not part of them?

ClearFlair:
It should be N2,000 per liter so they can have common sense next time

What is common sense?

Only lazy people eat three square meals

Ojuntana:
You still do not get it. Only the official rate was fixed by the Buhari govt. The parallel rate was basically market driven. So what happened in Nigeria for currency exchange rate to shift by over 100% in accordance year. Or do you mean parallel rate was fixed too?

Oga understand finance. The parallel market rate was determined by the premium between the official and parallel market rates. If the official market rate is low then the parallel market rate will adjust downward while maintaining a premium. If the official rate goes upward then the parallel market rate will adjust upward while maintaining a certain premium.

The primary source of funding for parallel market is the official market.

MASTAkiLLAh:
Bulaba bastards will abuse Obaseki thinking he's like their regular Oshodi motorpark economists running things in Abuja but the truth has nowhere to hide, eventually it must come out. If una like, no use una brains

How has he managed Edo State economy? Talk is cheap. Show us example of how good you are.