SIRTee15:

Its actually not Tesla's fault. BYD and other Chinese electric car manufacturers are really giving him a serious run for his money.
Those car companies in china are producing electric cars at a rate that outpace total global demand of electric cars. They plan to flood the world with cheap electric cars by making sure supply outstrip demand, and on the long term run others like Tesla out of the market.

Tesla also has to follow similar plan by producing far beyond the demand for his cars and hopefully reduce the price. Otherwise Tesla will become history like Nokia or Motorola.

I'm surprised to learn that Tesla has thousands of unsold cars sitting in warehouses while the typical wait time for a Tesla order averages around six months. Some resellers buy these cars to cater to customers who can't wait that long.

Anyway, President Biden recently increased taxes on Chinese electric cars and semiconductors to safeguard American companies like Tesla. This move aims to support American dominance in the global electric car market, where the U.S. accounts for 50% of all purchases.

Peter Obi is playing his game very well this time around, bridging the gaps and solidifying his base without necessarily heating up the polity against the present administration. Your new method might just be the trick to get you to the villa.

I am gradually becoming a fan.

Obi for president

ByAyodeji Adegboyega April 8, 2024

The Central Bank of Nigeria (CBN) on Monday issued a directive to all banks prohibiting the use of foreign currency as collateral for Naira loans.

This move comes amid efforts to strengthen the country’s financial sector and ensure regulatory compliance.

In a letter addressed to all banks, the CBN outlined new guidelines prohibiting the practice, with exceptions for specific types of foreign currency collateral.

According to the letter signed by Adetona Adedeji, director of banking supervision department, the use of foreign currency-denominated collaterals for Naira loans is now prohibited, except in cases where the collateral is in the form of Eurobonds issued by the Federal Government of Nigeria or guarantees provided by foreign banks, including Standby Letters of Credit.

“The Central Bank of Nigeria has observed the prevailing situation where bank customers use Foreign Currency (FCY) as collaterals for Naira loans,” the bank said.

“Consequently, the current practice of using foreign currency-denominated collaterals for Naira loans is hereby prohibited, except, where the foreign currency collateral is: Eurobonds issued by the Federal Government of Nigeria; or Guarantees of foreign banks, including Standby Letters of Credit.”

In effect, the apex bank notes that all loans currently secured with dollar-denominated collaterals other than as allowed by the new directive should be wound down within 90 days.Should any of the lenders fail to meet the requirements, the CBN said such exposures should be risk-weighted 150 per cent for Capital Adequacy Ratio computation, in addition to other regulatory sanctions.

The new move is part of a coordinated effort by the apex bank to strengthen the banking sector and stabilise the Nigerian economy.

The CBN had on 29 March announced an upward review of the minimum capital requirement for banks, specifying that commercial banks with international licenses must maintain a capital base of N500 billion.

Similarly, the apex bank directed that national and regional banks are required to have capital bases of N200 billion and N50 billion, respectively.

https://www.premiumtimesng.com/news/headlines/684445-cbn-prohibits-use-of-foreign-currency-collateral-for-naira-loans.html

Fergie001, Mynd44

mrvitalis:

If Nigerians are foolish enough to still support apc by giving them the sustainable vote to be able to rig then APC show do more 50 years

There is no point removing a Tinubu and replacing him with another person like him

Let's see the level of hardship that would make Nigerians begin to vote based on personal conviction not tribal and religious sentiments

If it means 50 years of APC bad rule then so be it

Politics is a complex game, with individuals voting for a variety of reasons. These can range from personal beliefs to religious affiliations or even tribal loyalties. Regardless of the motivation behind a vote, it is not our place to dismiss it as foolish simply because it differs from our own.

For Obi to have a chance at winning, it is imperative that other parties come together and rally behind him as the flag bearer. Additionally, supporters like yourself must realize that just as you have the right to support Obi, others have the right to support their own preferred candidates.

In order to secure victory for Obi, we must actively engage with different demographics and focus on key policy issues. It is crucial to create an environment of trust and mutual respect, rather than engaging in unnecessary grandstanding.

SalamRushdie:
That's exactly why Obidients are around , they willl be used by Tinubu to make sure that there is no coalition

Obidients will not agree with you on this.

helinues:
Over ambition and ideology won't let the opposition merge together.

Having ambition is commendable, but it must be balanced with practicality. Being open to adjusting plans when confronted with reality is not a sign of weakness. Ambition must be coupled with tact in order to succeed.

Chivisee:
Pls don't let Pandora and his ipob.s nuisance to start another round of tears,it's too early. Let encourage them till then so our laughter can tarry

Let's not call people unprintable names on this thread, disagree with people as it is a right but we must maintain decorum while at it.

Thank you.

SmartPolician:
This is the plain truth. If Atiku Abubukar and Peter Obi contest separately in the next election, it will be a cheap win for Tinubu. In that case, I won't even bother going out to vote if I will be in Nigeria that time.

The challenge lies in how to convince the two of them to work together. Atiku believes he doesn't have age on his side and as such won't trade away the chance of testing his popularity again in 2027 on the alta of coalition. On the other hand, Obi believes it is not morally okay for Atiku to keep insisting when it's the turn of the south.

The 2023 presidential election was a highly contested and unpredictable event in the history of Nigerian politics. Numerous factors were at play, including internal struggles within the PDP and deliberate sabotage within the APC. The involvement of powerful figures in the presidential villa, along with Atiku's alliance with Emefiele and the petrol scarcity, seemed to be tilting the scales in his favor. However, the unexpected popularity of Peter Obi and his appeal to Christian voters posed a significant threat to Atiku's chances.

Ultimately, it was Tinubu's victory, which can be attributed to two main factors. Firstly, Atiku's disregard for zoning and secondly, Peter Obi's widespread support among Christian voters who typically lean towards the PDP but in this case, aligned with the LP.

With the race for 2027 already underway, it is clear that Peter Obi has his sights set on the presidency based on his recent actions. Atiku, on the other hand, has not given up on his long-standing dream and even stated in a press release after the Supreme Court's judgement that he will not be leaving the political scene. This sets the stage for the 2027 election.

Tinubu still holds strong support from his allies and also benefits from being the current incumbent. Atiku, on the other hand, seems to be losing his supporters but still has the backing of the northern oligarchs. Obi is working to change the narrative, no longer relying solely on his Christian support but instead positioning himself as a candidate for all of Nigeria.

However, in the upcoming election, Obi's popularity within the church may not have the same impact as it did in 2023, and his new alliance with the Muslim community may not significantly increase his votes. Atiku, on the other hand, will be tough to defeat in the Northeast and Northwest regions. Individually, none of these candidates have made significant changes to increase their electoral success in 2027. As we saw in the previous election, it is likely that Tinubu will capitalize on this and secure another victory.

The only way to prevent Tinubu from winning in 2027 is through a coalition. Atiku should step aside and throw his support behind Obi, with either Kwankwaso or El-rufai as his running mate. This coalition needs to start working together now, or they risk facing defeat.

Fergie001
Mynd44

Adequate capital levels enable banks to attract funding, cultivate strong customer relationships, and effectively manage risks associated with lending. It promotes greater market discipline and ultimately reduces the likelihood and severity of financial crises.