₦airaland Forum

Dochido:
I owned a restaurant when my wife come around she eat without paying
She have her own shop when I go there I will pay for everything I took from her shop
I give her feeding money weekly

Food is different from goods. Its the responsibility of a wife to privide food for her husband, and likewise it is the responsibility of the husband to provide for food for the wife.

Menclothing:
So the wife own a 5 star restaurant that some meals are way too expensive the husband should be going there to eat it till business crash

If you need food go home for the food prepared by wife not Staff and business

If the restaurant like let it be 10 star, i will still find it insulting for me to pay. I know a lot about restaurant business, I have worked in a 5 star restaurant before (not in Nigeria though), my wife currently runs a small eatery I opened for her. He sales girls practically kneel down to greet anytime I walk in, so if i ask for snacks, the sales girl will ask me for money. That day, it is me that will sack the girl.

No matter how many stars the restaurant is, the production cost is the same and its extremely cheap. Believe me the actual cost of the food ingredients is very cheap. I drive my wife to mile 12 every last Sunday of the month to buy food ingredients both for the house and the shop. So i know how much she spends on preparing her snacks.

When my office was on V/I a childhood friend and his wife open a very thriving restaurant on V/I. Just because the guy and I were very close, my friend and his wife told their staff not to be collecting money from me whenever I order food. This was an expensive restaurant. Shame was even catching me then, that I rarely ordered for food. Most times, I send my partner to go and buy the food. So if a friend's wife could show such love and magnanimity, then what about her husband?

Imagine a wife asking her husband to pay for food he eat in her restaurant. That's not a marriage but a business arrangement. It seems most Nigerians have forgotten the meaning of marriage.

Menclothing:
You must

If husband owe a car mart should wife pay to take a car ?

Car and food are two completely different things. Cars are not marriage duty of either husband or wife. If a man buys a car for his wife, he will not demand payment for it.

juman:
There are many kinds of husbands.

The kind of husband that suppose to pay for his food is the husband that daily goes to his wife´s restaurant with many of his friends to eat free food. That would kill the business.

We are not talking about his friends. It's not the wife's duty to feed her husbands friends. Her duty stops with her husband and the children.

Ahmed0336:
A wise man would pay after eating to encourage his wife and also to avoid future stories like "it's because of the free food you've been eating that's why my business crumbled"

If its just because of what the husband eats that makes the business crumble, then the business is not a viable business in the first place. How much exactly can the husband eat in real terms? Are you telling me there are no leftovers or wastages?
Does the wife pay for the food the eats in her restaurant?
It will be an insult, yorubas call it arinfin, waffi guys call it see finish, for my wife's sales girl to bring a bill to me (her madams oga), to pay for food I eat in her restaurant.
If she needs money to put into her business, we can sort that one at home.
Finally, most businesses ran by wives were probably set up by the husband.

bassdow:
issue is, most of our so called Nigerian engineers, are only good at copying (verbatim) without improvements.

why invert 12-volts all the way to 240-Volts and above, only to have it steppEd down to as low as 6-volts or lower sef.

My 32-inch TV/Monitor is rated 20-volts, I run it directly on 12-volts. of course when you drop voltage, current would UP a little.

Before now, I have to open a TV, reWork it's power panel, and Create alternative port for lowVoltage which means a TV of 240-volts, would end up using less than 20-volts

Same with my Laptops, and Desktop PCs, my laptops are run directly on 12-Volts with no amplification from me.

Those that gets stuborn enough, I either tap the 12-volts directly from chargeController 12-Volts output (I tend to avoid taking directly from battery so as NOT to overDrain the battery when I'm not monitoring, and also to get clean supply, devoid of noise) OR I BOOST the 12-Volts to 19-Volts and supply it direcly to the laptop's power port and the lapTop would think it's receiving power directly from PHCN / NEPA / etc.


and I am not even an Elect/Elect graduate Ooo. I don't even have diploma in anything of such. Just childHood knowledge.

Hence reason I get disappointed when I see those who give themselves fancy names, with papers to back it up, not thinking out of the box.


All my Fans are tokunbo rechargeAble fans I bought for less than 7,000 naira at Arena in Oshodi, lagos and I removed all the converters inside it, and supply them 12-Volts direct.
those with weak Stands (since I bought them tokunbo), I convert them to wall-Fan, and I even have 2 rechargeAble ceiling Fans I converted sef and with that, I have no issues.

When I have very weak Solar-Battery, I don't just Dispose them off, I redeploy them to another position.
That's I have 3 sets of Solar panels - those that charges brand new solar batteries, those that I use for some other things, and those that charges weak / almost dead solar batteries.
Now those weak or dead solar batteries are the ones I use in powering all those FANs (I've got 9 presently), and (LED) Lights, made out of rechargeable Torch-Lights. I keep on using them till they're 150% useLess to me, then I look for those who buy them as scrap.

The only thing that really uses full light in my apartment is the chest-Freezer and I power than only during the day when the sun is out.

Even my outDoor Tv antena, I had to open it up, remove the transformer and resistor inside it, and replaced the Power-Cable with USB cable. Since the transformer is 6-volts output, I supply it either 6-volts or 5-volts from the USB port from back of my TV. Even my laptop USB port sef powers my outdoor TV antenna that has rotator. Only thing is - when I supply it 6-volts, when I press rotate button, it would rotate, BUT when I supply it 5-volts, it doesn't. well I rarely have reason to rotate it sef.

Now that's how far I have gone in converting things.


Imagine If I choose to open a shop, na to dey build UNIQUE power solutions, not all these followFollow things being sold everywhere

I go to Arena regularly, can you please link me up with where you get those fans? I need some urgently.

I am also not an engineer, I in fact studied architecture, but I have always been fascinated by electronics.

Incidentally, I was just discussing with my wife about the uselessness of our certificates this morning. Normally universities should be an ivory tower for looking for solutions to the countries problems, but Nigerian universities are just certificate awarding institutions with zero input on the countries technological and even social problems. Its only in Nigeria that you will find so many doctors and professors of engineering, but no single solution professed to solve basic engineering problems. What exactly they are professing is a mystery.
You that is not a professor and not even a master of electronics and electrical engineering can think of a simple solution to our power problems, but we have hundreds of professors and thousands of masters of electronics engineering and they are suffering the same power issues as every one else.

Chichilas:
It is not shocking. I said I would take this to the court of public opinion which is Nairaland because this is where I met you. You said I should do my worst. That nor be Nairaland Dey feed you. So why is it shocking you?

I am just getting started. You would be amazed how much time I would spend on your matter.

Cool down. The amount of stress we are all passing through in this country is enough. No need over stressing yourself over a small issue.
I know he did not handle it well, but then you too don't know the frustrations he too is passing through. Doing business in Nigeria is a very difficult thing, you don't have control of situations and you have no protections whatsoever from the government's. In fact the government even adds to the frustrations. You gain nothing by bringing zeestone99 down. Infact you guys have been friends and have done business for over 5years.

zeestone99:
Ok

This cables he's complaining about, he called me and I told him I will call a friend that have 4 core. I specifically told him I don't have it and we agreed I should ask a friend.
My friend sent him the 1st one. He said it's not complete and they have buried it already so there's no way to measure.
So he ordered another. My friend said he would only cut the cable in my presence, I don't have that time so I sent one of my boys. They measured in his presence and he confirmed 50yards plus small jara.
Cable was sent to benin on Sunday.
This Benin man called yesterday that cable is not complete, shouting on the phone blablabla. I told him to hold on.
I called my friend y he didn't cut complete cable, he responded that I should ask my boy that it was in his presence they cut this cable.
I called my boi and he said they cut 50yards plus jara in his presence.
I reverted to Benin man that they cut complete cable from here and my boi is also confirming it. He flared up and started shouting this is the second time and he's sending it back to Lagos. I told him to hold on. Called my boi and my friend again and they said they sent 50 yards complete. I called oga back and he said I'm cheating him and he would call me out on nairaland.
So here we are. In as much as u are a customer, u can always dialogue man to man and resolve issues, I won't tolerate you shouting on me and calling me names cos of one small misunderstanding that can be resolved with simple " what do think we can do now".
These are the issues.

I understand your frustrations, but a GOOD customer is always right. If you imbibed that philosophy, you would not have been impatient and not let the issue escalated. A simple explanation and apology would have sufficed. Next time if you don't have, tell him to source the cables somewhere else.

About your boy witnessing the measuring in front of him. My brother, in terms of business don't trust anyone, particularly a nigerian. Unless you did the measurements yourself, don't stick out your head for anybody. Those Alaba boys are magicians with both the tape rule and measuring scale. They would measure something in your front to be complete only to get home and measure it yourself and it becomes short.
Me, I have experienced it all.

I don't think Chichilas is lying or being unnecessary difficult, especially since this was the second time he is complaining on the same issue. He is genuinely upset.

Just apologise, make it up to him one way or the other. You could invite him for a drink or send him the money for a drink and forget the whole episode. It's just not worth the anger and bad feelings.

loluskysat:
My experience with Zeestone 99 was great. He demonstrated an apt knowledge of what he is selling and even replaced the item when i complained about it scratched by the despatch. I had a good customer service with him even though we have not met.

I have no doubt that zeestone99 has apt knowledge of what is selling or that you were satisfied with his services. The issue at hand is the experience of another customer who did not get customer satisfaction. I am a businessman with over 20 years experience. Customer satisfaction and feedback is key to business.
I just pointing out that this misunderstanding could have been handled much better.

bassdow:
purposely choose to die the matter.

See eh, I have designed a couple of circuits, I desiigned, not buy readyMade circuit Boards like most people packkaging solarGenerator boxes are doing. And I didn't even use anything hhaving coil.

And yes, there are different types of transformers BUT when I say transformerLess, those of us learned enough, I believe uunderstands whatt I meant.

One basic thing I love about transformers, is the seperation BUT when I want something that would be efficient with almost no wastages, I know what to do.


Makes little sense inverting 12-Volts or 24-Volts DC current to 240-Volts AC , only to have it stepedDown to say 19, 25, etc volts. That's lots of WASTAGEs wether using Transformers or NOT.



Any day I choose to use lithiuum batteries, I would BUILD (Assemble) mine, rather than buying readyMade lithium batteries which I don't know quuality of it's indiividual cells.

I also had the same question when I was still into solar power/alternative energy about a decade ago. It does not make sense to start with 12v DC, invert to 220v AC and then step down again to 12V DC using very expensive and sometimes fragile inverters. Why not connect the your 12v DC appliance directly to your battery or solar controller. I did a few experiments then and it worked perfectly. I bought a 12 TV and connected it directly to a 12 v battery and then connected the battery to a 200watts solar panel. (I didn't even use a solar controller). I was able to watch TV with DSTV when the sun was shining.
I didn't continue the experiments as I had numerous commitments that made me travel a lot.

Most electronic appliances like TV, Decoders, Laptops, sound systems, LED lights, etc eventually get stepped down to between 12 - 20vDC so a simple step up or step down converter would suffice.
When I have time, I will order for some bulk converters from alibaba.

zeestone99:
Cable is measured completely from our end. I have no idea how it became shorter when it got to benin. There's notin to resolve less than 5 mins conversation of its complete and it's not complete, he's solution is to spoil my reputation so he claims. As u can see theres notin to resolve. U can blame me for that though.

Very bad business ethics. Customer satisfaction should be a big part of your business philosophy for long term survival and success. The customer already made his concerns known before ordering based on previous order. You should have told him the truth that you have no control the cable length as you are a vendor or tell him the actual length of a labelled 100 yard cable is actually 80 yards. I know that is the standard practice among those alaba international sellers.
Even after the customer complaint you should have simply apologised and offer to refund the extra N20k. This would have made him happy and a repeat customer. You have now only now lost a long term customer but also businesses he would have brought you in future, all because of N20k.

MaxW11:
Atiku is so desperate to become president even through the back door, he’s very upset he got beaten in by a non northerner hahaha.
This is last chance saloon for Mr Atiku, unfortunately he has failed already. CSU has confirmed the president was a stellar, first class student- case closed.

Quit tribalising this issue, if it is about non northerner Tinubu would not smell the presidency. It was northern votes that won Tinubu the presidency. If we add up all southern votes, Tinubu lost the southern votes.

Most of the people against Tinubu are southerners, including his native yoruba tribesmen. That is because some Yorubas don't support criminality. Icons like Late Gani Fawehinmi, Fela Kuti, Tunji Braithwaite, Taiwan Solarin, etc, didn't support criminals based tribal sentiments.

If you remove your tribal tinted glasses, you agree see that Tinubu has a criminal past and lots of unanswered questions. First of all the certificate he presented to INEC was forged. This much we learnt from the CSU court deposition. Yes he graduated from the school, but he failed to collect his certificate. Secondly, the certificates he used to gain admission into CSU were forged. There was no Government College Lagos when he claimed to have obtained an O/level certificate there. Under normal circumstances CSU would investigate the issue with a view of withdrawing their diploma if it was determined he did not meet their admission criteria when he was admitted. As they day in law, you cannot build a structure on a faulty foundation.

Having said that, I doubt these allegations are enough for Tinubu to lose the presidency. There are lots of loopholes which his lawyers can exploit. In Nigeria laws for the elites are very ambiguous and depends on the personality involved. You don't even need a school certificate to become a president. About the forgery case, his lawyers will argue you cannot forge something that you are entitled to, and I am 100% sure the sure the supreme court will agree. The Nigerian supreme court can never rule against an incumbent, it had never happened.

DeepSight:
https://www.google.com/amp/s/www.ucanews.com/amp/lost-in-translation-index-on-japanese-atheism-off-target/75225

Very debatable. In fact many can validly say atheism emphasizes materialism by denying the spiritual. Thus leaving the material as the be all and end all.

I read you link on Japan, it still collaborates my stance. The apparent disagreement is in the definition of atheism. Strict atheism means lack of belief in Gods, spirits, spiritualism, the unseen, etc., while liberal atheism accommodates spirits, spiritualism, the unseen and even gods, the difference being lack of a creator God or a personal God who cares about how you go about your life. Now, there are very few strict atheists, most fall within a spectrum between the two extremes. Buddhism can be said to fall into the category of liberal atheism.

When I refer to Japan as a predominantly atheist country, I am using the Nigerian criteria where anyone who does not believe in a personal God is termed an atheist. Over 99% of Nigerians believe in a person God, whereas this figure is less than 15% in Japan.

When I am talking about materialism, I mean the crave for material possessions. Theistic religions lure new members by promising all sorts of material rewards - both in this life and in the afterlife. Their priests and even their gods demand material gifts from adherents to be considered worthy of blessings and favours. This is not found in atheism.

Yes, the atheism believes all that matters is here and now and tries to make the best use of his limited time. The theist believes that they have eternity to enjoy material sensations - either spiritually or physically, and so have numerous chances to sin and repent until the last breath.

Please let me add that recorded human history is approximately 5,000 years. Within that time, theism governed people lives and behaviour for over 4,700 years. It was just about 300 years when people began to question and indeed challenge religion and reason started taking over that human development started to accelerate. As more and more people began to question the Gods, such societies began to accelerate in human and social development.

I still reiterate that highly religious societies remain unstable and underdeveloped in comparison to the highly atheistic ones.

Aemmyjah:
I'm not implying
Will atheism bring about good morals in the society?
I asked how it will solve human problems of greed, crime, tribalism, etc
You're shifting post

Yes atheism brings about good morals in a society. If you carry out a survey of predominantly atheist countries and predominantly religious countries, you will discover that predominantly atheist countries are usually far more moral. Examples are the Scandinavian countries, Japan, Czech Republic, etc. Crime rates in these countries are very low. Contrast to highly religious countries like Nigeria, Afghanistan, South American countries, etc, where crime rates are very high.

Atheism solves human problems of greed, crime, tribalism by not emphasising materialism. It does not promise you material wealth both in this life and the life beyond. Atheism means you have no one to blame your failings and evil deeds on, you take responsibility for all your deeds. No devil, no Satan, no witches, no village people, so you become more careful and thoughtful of your actions.

It's been confirmed, Bola A Tinubu that graduated from Chicago State University is indeed a boy. Further more the certificate obtained and presented is original and valid. That's all that's needed in the on going litigation at the supreme court. President Tinubu has one this case, Atikulates and Obidients better sheath their swords or better still sharpen their swords in readiness for the next election. For now they should join hands with the agbadoans to move this country forward. The pains being experienced by ordinary Nigerians is excruciating. We have far more important issues than crying over the last elections.

Anxiously waiting for the most anticipated gender reveal in history.

raskymonojendor:
Even if they admit anything, CSU already gave them a way out. The below is what the Supreme court will hammer on just like the election tribunal did with Tafa Balogun's FBI letter.

The bone of contention since 1999 had been Tinubu's academic background and records. All his academic records he submitted to INEC had been challenged and it was never really resolved. There has always been the allegation that he is impersonating someone's else's identity and certificate. This is what this current court case is about. Atiku and Tinubus distractors are alleging that either Tinubu got into Richard Daley's college or into Chicago State University with stolen identity. What Atiku is after are the admission documents he used in getting admission into Chicago State University including social security number and his passport photograph. Then the actual degree he was awarded and when he graduated.

A quick aberration in the letter you presented. I find it quite suspicious that the university registrar is saying that both the diploma awarded Tinubu and the certified true copy are different and valid. How? A certified true copy of a document is simply a copy of the document that is certified by a certifying officer. It should be an exact copy of the original document save the stamp and signature of the current date. A certified true copy cannot have different logo, different fronts and different original signature.
The registrar should just have said a brand new certificate was issued instead of calling it"Certified True Copy ".

jahsharon:
Supreme Court cannot take any evidence that was not presented to the Presidential Election Tribunal

False. In a sane supreme court in a sane country where justice is supreme, additional evidence is accepted if it was not available at the time of the lower court judgement and if it is fundamental to the case. It like someone already condemned for murder by the lower courts, and later DNA results came out that showed that the murder was carried out by someone else. The supreme court is a liberty to accept the new evidence and exonerate the condemned.
But this is Nigeria's supreme court we are talking about. They have never ruled against the incumbent government in president election cases in the history of Nigeria. In 2007 they said INEC's failure to serialised the ballot papers did not invalidate the elections. In 2023 an election tribunal in Kano cancelled votes because the votes because the ballot papers were not stamped. I am almost 100% sure that the supreme court will find one technicality not to admit the new evidence particularly if it is very damning.

Nigerians are confirming the world view that we are fantastically corrupt people. Our youths are into fraud, our pastors are conmen, our politicians are hardened criminals. No wonder we as a people are becoming a pariah in the committee of nations.

DrGoodman:
Let's see what this man has been hiding desperately

I am sure Tinubu will head to the supreme court. Since Tinubu said full disclose of his academic credentials will do severe harm to his life, that he will fight to it to the last.

kingxsamz:
Lol, this una god sef.
Lot's wife was turned to salt simply because she looked behind her, but Lot who offered his daughters up to strangers to be raped received no punishment. Lot's daughters who raped him and had children for him also received no punishment. And this is supposed to be a moral story? 😂😂

Apart from violence, bible tales are too immoral and depraved for me.

Biblical stories particularly old testament are too violent for an atheist/humanist like me. I cannot fathom how a supposedly benign being kills millions of his children violently in order to sooth his ego.

seunmsg:
Lloyd Ukwu from Agulu is now speaking for NADECO

The same people who called NADECO a Yoruba organization when NADECO was fighting for the democracy we now enjoy want to turn around and use the NADECO name to grab power for their gbajue son who came a distant third but want to claim first position through fraudulent claims.

For the records, NADECO was formed by democrats like Adekunle Ajasin, Dan Suleiman, Anthony Enahoro, Bola Tinubu, Wole Soyinka, Segun Osoba, Bola Ige, Shehu Sani, Abraham Adesanya, Olu Falae etc to fight for the actualization of MKO's June 12 mandate and for the restoration of democracy in Nigeria. There was no Lloyd Ukwu or any Obidient in NADECO. In fact, Peter Obi was working for the Abacha Military Junta against the actualization of June 12 and the return to democracy. NADECO was disbanded after democracy was achieved and the organization no longer exist.

Lloyd Ukwu and the other Peter Obi Obi supporters masquerading as NADECO members are fraudsters trying to impersonate a disbanded organization for their selfish and gbajue principal.

This is the problem I have with Nigerians and indeed the black man, we tend to tribalise everything. Every question, every criticism is view with tribal tinted glasses. NADECO usa is asking serious questions, instead of Tinubu's (obviously Yoruba) supporters to attack the questions raised, they simply attack the tribe of the person that signed the document. Even if the person was Yoruba, the would still attack the person as an "omo ale" (outcast).

Tinubu's certificate and identity had been subject of controversy since he won the Governorship elections in 1999. He first provided fake credentials in his INEC form, where he stated he attended Government College Ibadan and University of Chicago. Gani Fawehinmi took the matter all the way to the Supreme Court. The Supreme Court referred the Latter to the Lagos State House of Assembly, since only the House can remove or sanction a sitting governor. The House of Assembly carried out their investigations. It later found the allegations to be true that Tinubu submitted fake credentials to Electoral body but accepted Tinubu's excuse that it was Senator Afikuyomi that filled the forms and not him, and so it was a mistake by the Senator, not minding that Tinubu appended his signature to the documents.
It was later on that they said the University he attended was actually Chicago State University and not University of Chicago. Since then we have not been able to establish the educational background of Tinubu. His total academic history is 4 years - 2 years at Richard Daley college and 2 years at Chicago State University. No primary school, no secondary school. That you and Yorubas who used to be among the most educated black race, do not find that discomforting is simply unbelievable.

Even with his scanty educational background, the certificate he obtained is mired in controversy, his admission credentials is suspicious at best.

The questions Nigerians want answers to are; who is Bola A Tinubu, what are his family background, what are his educational background and what are his criminal background.

Datedoboy:
I had mentioned it in my previous post that it will get to NGN1,000 per Usd if drastic measures are not taken.

Again, I am saying it here that it will get to 2,000 before 2025 if we don't take these drastic measures.

I have been saying this for the past 20 years, as long as we're persist in following IMF already discredited policies of floating our currency, removal of subsidies and opening of our ports, the naira will continue to fall ad-infinitum.

These measures will make the Naira appreciate to at most NGN500 to a dollar in the short term and in the long term, NGN100

The Naira can never fall back to N100, even N500 is a difficult task, unless we take the Ghanaian route of re-denomination.

What are these measures? I will explain further but note that this is not about Exports.
Even if we export more than China today, the NGN will still decline further. How do i know this?

It's about the balance between exports imports. Either we reduce imports or increase exports. That's the only way to stabilise the Naira.

If you do your research, you will discover that Nigeria as at 2023, exported and earned more FX more than several countries and yet the currencies of these countries are stronger than the Naira.

Giving our ballooning population, we also imported more and earned less in real terms more than all those countries put together.

So don't let anyone sell the idea that our economy is import dependent that is why our currency is falling. Even if we ban all imports and continue with (or increase) our current export, the Naira won't appreciate

If we manufacture all or most of our goods and rely less on imported goods like we did throughout the 1970s, what will we dollars for? Who will buy dollars even at N100 to $1?

A simple question you can answer is, when we banned rice importation, did our currency stop falling? No !!! So sit back as we take a dive to 4 policies which WILL make the Naira appreciate.

That was because rice consumes a tiny part of dollar demand. Fuels - Petrol, diesel and aviation fuel consumes a substantial part of our dollar demand. Other food items like dairy, flour, fish, etc consumes more dollars than rice. Besides, rice was still bring smuggled through the land borders using CFA franc.

1. All domiciliary accounts must be closed.
Can a Canadian or US bank open Naira account for you? No! So why do we open Dom. Accounts for our citizens ? Now you may say what of imports? How do we pay for our goods in foreign currencies?

The answer is simple. Credit your account in Naira while your bank pays the USD or GBP equivalent on your behalf at official rate determined by CBN

2. Ban deposits and withdrawals in foreign currencies and convert all inflows including export proceeds in foreign currencies to Naira (again at official rate determined by CBN).

You don't need to stop people who sell at black market or hoard the USD. Let those who hoard the dollar keep it but once they know that after a said date, you can't deposit or hold your physical dollar, they will be forced to go to the bank to deposit it. Anyone found with physical hard currencies after the deadline, must be arrested

This policy alone will make the NGN appreciate to maximum of NGN600 after first two weeks of implementation and will mop up hidden/excess dollar in the system.

This policy will also discourage buying usd from the black market because there won't be any physical dollar to buy.

3. Increase interest rate for fixed Naira deposits to a minimum of 10%. This will encourage saving in Nigeria. Let a Naira 4 Naira scheme, replace the previous Naira 4 dollar scheme.

4. Increase interest rates on foreign currency deposits to 40% of principal amount if option 1 is not possible and convert all inflows to NGN without the option of collecting foreign currencies at the counter. You can't spend USD or GBP in Nigeria so why do you want to collect your inflows in foreign currencies?
This policy indirectly stops the black market arbitrage.

As the Government has floated the Naira, if these measures are not put in place, NGN2,000 to a dollar won't be surprising to me.

I am just a concerned Nigerian and i am open to constructive criticism.

All these are just palliative, ointment to treat a gangrene infection. The only remedy is manufacturing. Need to building a manufacturing base fast. We need to start learning to converting primary agricultural goods to manufactured items for local consumption. We need to start converting our raw materials and natural resources to finished goods. We need to start turning cotton to fabrics, ponmo to shoes, cocoa to chocolate. That was how the industrialised world was able to defeat poverty. That was how Asian countries like China, Taiwan, Malaysia and even Vietnam were able to banish poverty. Not through juju, not through fasting and prayers, not even through portfolio investments, but through industrialisation.

MeineMutter:
You are right, to a greater extent.

We cannot, 100%, rule out importation as part of the reasons for Naira’s free fall.

People keep these dom accounts to fuel their penchant for imported products.

You can imagine Nigerians looking for dollar to import China made shoe racks, plastic juice extractors, handkerchief etc.

I expect CBN to also increase the list of products on import-prohibition list while they implement all your suggestions.

Importation is making us to be lazy, by the day.

It's not importation that's making us lazy, it's government policies, lack of a manufacturing base, lack of critical infrastructure and lack of benign fiscal and monetary policy that making us lazy.
You cannot be hard working with an official interest rate of 19% (actual interest rate is about 28%). And to make matters worse the banks will start demanding repayment the very month you took the loan, and the longest term you will get for repayment is 24 months. In 24 months most legitimate businesses have not started turning up a profit. If a bank borrows you N10 million and expects you to pay back with interest within one year, the best option is trading - trading imported goods.

Also corruption by government agencies and multiple taxation is a huge disincentive to manufacturing.

Then there is the almighty NEPA (power), you cannot manufacture profitably (in comparison to importation) when petrol is N600, diesel is N850.

Seun:
Before Tinubu the official market was practically nonexistent. Nobody could access forex. Floating isn't the problem. It's demand and supply.

Gbam! That's because the CBN had no dollar to sell.

Floating is a major problem because there is no water to float on, no upwards counter force to counter the force of gravity to create an equilibrium. The counter force should have been exports. At this rate the naira will keep on sinking until it gets to the bottom.

Seun:
Before Tinubu the official market was practically nonexistent. Nobody could access forex. Floating isn't the problem. It's demand and supply.

My boss. Long time we had a major disagreement. This one will be a major one.

For decades, I had been against the floating of the naira. When IMF gave floating the naira, removal of petroleum subsidy and opening of our ports as part of the conditionalities for giving us loan during IBB regime, I was part of Nigerian student that took to the streets in protest. At the end of the day, IBB backed out, but implemented some of the conditionalities through the back door through SAP. Now, as a student of O.A.U. we had robust debates on these conditionalities and it's destructive effects on the economy.

Today, I and great Nigerian students of then have been proven correct. No country that implemented those conditionalities did well. Infact all came out much worse, so much so that IMF later backtracked and confessed that those conditionalities don't work.

Now let me let you on a little secret, no developed country actually floats their currency, not USA, not UK, not China, not Japan. Countries control the exchange rate of their currencies through various mechanisms, in order to achieve certain balance of trade goals. The worst are the Arab countries, they have a strong grip of their currencies because just like Nigeria they depend a lot of export of crude.

Nigeria has put itself in a very vulnerable position. An unstable oil price will wreck havoc on our economy. If the US or Saudi Arabia manipulates crude prices to $120 per barrel, we would be buying petrol at N1200 per litre. We have not started talking about diesel and aviation fuel. At thar price up to 70% of Nigerian businesses would close down. We will depend even more on imported goods including food and basics.

This issue is very complex to be discussed in a few sentences typing on my phone.

But one thing I can tell you is that most of the economic structures put in place by IMF, World Bank and other financial institutions is to make us suppliers of raw materials and importers of finished products.

adisabarber:
You pushed for floating of the Naira, it failed. Now you are saying another thing

That's the greatest tragedy to befall Nigeria since the civil war - floating the naira. The IMF and the World Bank has been edging Nigeria to float the Naira (remove all subsidies and open our ports) since the time of IBB. They achieved this through Tinubu. Once the dollar has crossed the N1000 mark, the next mark is N2000. I predict it to hit that mark within the first term of Tinubu. At the rate the naira is falling, it might make it in 2 years.

fkj950ax:
Can you FACTUALLY confirm if she evaded being served or responding to the process at any point in time?
Judges issue bench warrant for people who refuse to appear in court for civil cases.
No one knows all her actions AFTER Erisco went after her. It's just the hullabaloo on SM people are regurgitating.
And for you to type the bold above shows you are economical with the facts of that case, as you are with this issue.
And democracy has no business in all of this. Even in police state, people have right to seek redress for defamation. And they go to court.
Democracy, once again, doesn't allow you to do as you will without consequences. If she erred, she should be made to pay to the fullest extent of the law. If Erisco erred by 'detaining' her, they should face the consequences of their actions too.
By the time the dust settles (we all know she has no money to pay for damages) and the court makes them do ADR, Erisco will let it go and she will be okay. We may hear what she did that led to her being remanded or detained. We don't have that info. All you guys are saying is Erisco had her arrested for her comments. I strongly believe her actions after Erisco went after her got her arrested.

You are making so many assumptions without an iota of fact to back it up. I am only relying on the story as presented and not adding "jara" to justify any bias. So if you can FACTUALLY confirm that she was served court papers and she evaded summons or refused to appear in court before the police jumped in to effect arrest like SWAT team, then point us to the link.

Abeg which fact am I being economical with with? The fact presented or the facts you assume I have been privy to. You make an awful lots of assumptions.

There is a democratic way to seek redress in a democratic state and its certainly not rambo style. You go to court, you are presented with an opportunity to defend your claims, if you are asked to pay damages as determined by the courts to the plaintiff. The police is not involved at all, except the person refuse to appear to a valid court summon, thereby the court issues a bench warrant.

It's only in dictatorship or quasi-democracy that that a citizen can be arrested and jailed for insulting the first lady or a "big" man.

fkj950ax:
She is not a defenseless lady. If you live in glass house, don't throw stone. Even in Nigeria, if you cant afford a lawyer, the State DPP provides you a lawyer. If Erisco legal team proved shes a flight risk, she might be remanded. The question is what did her legal team do? I am sure she was probably served or invited for questioning and probably ignored or try to evade, before she had to be picked up.
Her post is online, not in Lagos or wherever she resides. If Erisco HQ is based in Abuja and they filed in Abuja, she will be taken to the said Abuja.

You are only making all these statements based on social media sentiments.

She might have been unable to perfect her bail conditions, and hence remanded in custody. There is nobody holding her incommunicado. If she has been charged to court by the police, she will be availed the option to bail pending the case. If she cant meet bail conditions, she will be held in custody LIKE EVERY OTHER PERSON.

You can voice your opinion all you like, but you cannot destroy another person or business with your opinion and expect people to allow you a free pass.

Imagine if her opinion (or product review as you all call it) leads to boycott of Erisco products, and the company goes bankrupt because its unable to meet its financial obligations to staff, vendors, banks, investors etc

Erisco is exercising its full rights under a democratic system, which you dont seem to understand. She has a right to go on FB and spread unfounded information, and Erisco has a right to legally go after her claims since they know those claims are false.
If the product is sent to a Lab and a food tech scientist comes back with a report there is no sugar in the product, she has the onus to prove there is sugar in the product.
She also said the products have killed people; she has the onus to prove that there are indeed people (provide a list of names and dates) thats have been killed by the product.

The only dangerous path is people thinking social media is their beer parlor gathering and can say anything they want. She made a review filled with false information and claimed the product killed people. That is ALL the proof of malicious intent Erisco needs. Even if its a review she made (I wonder who sent her), she cant make a negative and damning review based on falsehood and say there was no malice.

Social media and or free speech or personal opinion CANNOT REPLACE going after people for LIBEL, when it has the potential to harm another or destroy a business entity.

There is no dictatorship in this matter. She beat the drum, she should tie wrapper and dance to the beats.

You still fail to realize thar this is a civil matter and not a criminal one. So where does the flight risk come in? All these things you are talking about, ie flight risk, bail, remand, etc are criminal cases. Libel is basically a civil offence which penalty is mostly fines and damages, and not actual jail time, unless there are other issues attached like contempt of court or failure to pay the fines.
In the US Fox news was asked to pay Dominion $700 million for defaming their electoral machines. No one went to Jail, not even Tucker Carlson. No one was detained, no one was questioned by police.

It seems you don't under stand how democracy works.

yommen:
Guy, how did you conclude that it's sponsored? It's a product review and it should be looked into! By the time the company is forced to pay damages, unna go know. Moreso, I observed the police is just a messenger of the rich instead of being the custodian of the constitution. I hope she was only invited for questioning and not put behind the bars.

She should not even be invited for questioning because its not a criminal offence. If the company felt its reputation had been damaged, the worst they can do is sue her to court. Afterall, they have a legal department, the police should not have had a role in this.

fkj950ax:
The minimum is libel.
She has to show evidence of people killed by the product.
Secondly, if there is no sugar in the ingredients of the product, then she has to demonstrate where she found sugar and also, what the economic and financial implications of her statement is on the business.
There is freedom of speech, but it has its limit.
I hope her at her has money sha because the damages or out of court settlement will be beautiful

What you are suggesting is a very dangerous path - a descent into dictatorship, where people are arrested and locked up for voicing their opinions. This is only an opinion about a product, what then happens if you voice your opinion against the chairman itself? What about political office holders, what happens if you voice a negative opinion against a sitting governor or a sitting first lady? The person should be arrested, beaten and locked up for years?
It seems lots of Nigerians don't know the meaning of democracy and democratic governance. There is supposed to be freedom of expression and opinion under such system of governance, so unless it could be proven that the made the product review with malicious intent, she conmited no crime under the law. Even if she did it for some personal vendetta or gains, the case would be a civil case and not a criminal one that would warrant arrest and transfer to Abuja.

I am shocked some people are supporting this gross abuse of power on a defenseless lady.

gare:
Since you know so much tell us why they have refused to develop those properties

That's the perogative of the home governments. If they feel Abuja is safe enough and aligns with their commercial, diplomatic and strategic goals, they would build a befitting structure there.

In international relations you don't use threats and intimidation to deal with other countries, you employ diplomacy except of course you are as powerful as the US.