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Travel › Re: JAPA Fever Among Nigerian Youths by xandy84: 7:58pm On Sep 12, 2023
Say no more attorney. I wish people will seek advice and listen to people life you before they invest all their life earning on Japa runz. I will read more on your post now. Which state do you practice law?









gforce5:
I agree that it is a big risk for people with a career to sacrifice everything in the name of Japa and as an Immigration lawyer, I have advised clients to think clearly before Japaing. However, the middle and upper middle career oriented are leaving the country not because of money but because of the quality of living in the country. No matter how one disguises it, the quality of living in Nigeria is very low. No light, no decent water, no good roads and a non-existent educational sector. The middle class have looked at the aforementioned issues and have concluded that Nigeria is not a suitable environment to raise their children.

As for those who are at an advanced age, they shouldn't try it. Immigration is a young person's hustle. If you read some of my posts on this forum, I have specifically stated the ideal age to leave the country.There's a reason why the pensioners of those advanced countries retire at a cheaper jurisdiction.
Travel › Re: JAPA Fever Among Nigerian Youths by xandy84: 1:28pm On Sep 12, 2023
It's been a while I read a post to a topic that divide opinions like Japa that is balanced and on points. People are frustrated back home and I can understand when they attack someone who has different view about Japa which they hang on as the last hope of a common man. Imagine graduating with 2.1 and jobless for years, you might be frustrated to even consider moving to Somalia but logic should prevail cos some countries are worse off than Nigeria and Japa crew should always do their research.











jiggar:
Nice write-up.

I just like the way you presented your points.

You are just trying to help others who are planning to japa, not to be too fixated on achieving financial freedom immediately, once they finally japa.

All that you said, are all facts. It's just that, African leaders are driving this japa syndrome at an astronomical rate, no thanks to their desire to keep looting the nation's treasury.

This is 2023, and yet, no black nation can lift up its head and shoulders and say, we are advancing both in human capital and IOT indices.

However, hope with your experiences and travels, you (or your folks) can, if possible, sometime in the future, create a small business back home to employ your fellow citizens?

At least, that way, you will be helping to reduce the unemployment figures in the country.
Travel › Re: JAPA Fever Among Nigerian Youths by xandy84: 12:37pm On Sep 12, 2023
I absolutely agreed with all you said but having lived abroad for 10 years, I still believed some people are not good candidates to Japa. First, people who are established in Nigeria. Why would someone who have a career, stable job and a house sell everything and move abroad? They are right about quadrupling their income but when you factor tax and bills, they will end up at ground zero at the end of the month. The second type of people that should NEVER try Japa are people who are advance in age. Why should a retired person take his gratitude, sell his house and move to US thinking miracles who somehow happen? I know a very distant cousin who sell his property, add his pension and moved to US in his late 60's. He has stroke and dementia and still has to work cos he has not work long enough to qualify for social security income and neither is he a citizen. Older people, don't try it. You will definitely regret it.
Younger, unemployed, underemployed should by all means leave Niaja for real. The situation is hopeless back home and it can't get worse as long as you do not Japa to countries that are worse off compare to Nigeria. Do your research, invest time and plan before you move is always my advice.















gforce5:
Mimi, I understand that you are giving your opinion based on your personal experience abroad. I spent a quarter of my life abroad before moving back to Nigeria so i know the downsides of living in a white man's country. However, you do not understand why Nigerians are desperate to leave the country by any means necessary as you don't live in Nigeria and you aren't experiencing the HELL so many people are going through in this country. So many people are disillusioned with the state of the country. We are talking about a country that is only designed for only the rich to thrive. The poor do not have any chance. That is why prostitution, yahoo, drugs, rituals and fraud have become the norm.

A lot of young people are disenfranchised with the system. The middle class has been wiped out. You are either rich or poor. Education has now become the right for only the rich. Many individuals have seen their standard of living drop in by 80% in the past 10 years. The list of problems is endless. I also assume that you probably have a second passport so you don't understand what the average Nigerian goes through when they travel abroad for different reasons. Just come and experience living in Nigeria for 3 months. Then you will understand why people want to Japa by force.
Travel › Re: My Friend Just Got Convicted In The USA, Will He Be Deported? by xandy84: 6:13pm On Aug 30, 2023
Interesting question. Racism is secondary. Financial gain is the major cause of high rate of recidivism. Most prisons in own by private cooperations who charges government to house inmate and the more inmate, the more profitable. There is a cooperation that built prison in Virginia and they have a clause on their contract with state the State of Virginia must pay if it can't provide inmate to their jail. If a state will pay for an empty jail, they don't have incentives to keep people out of jail. There was a case of a dude that died in jail for stealing $5 gum in 7/11 years ago.
Cooperations donate billions for elections, politicians vote on legislations that favor cooperations thru their lobbying agencies.
Federal prison system is even worse. The cheapest way to get a gender reassigned surgery is to buy a ticket to Jamaica, pick a gram of cocaine on your way back, get arrested and plead guilty to a six month prison and sue the government to provide money for your surgery. Why? Cos cooperations pressure policians to pass legislations that enforce free medical procedures to inmates while millions of hard working Americans goes without health insurance.
Bop spend almost $2 million to house a particular lady for 20 years due to major illness she has and when she was interviewed at the end of her sentence, she said she will be back withing 48 hours cos she will die before a month outside due to her medical conditions. Only very few hospitals will do major procedure on you without insurance. They will put a bandage and give you aspirin and down the road while inmate gets a gender reassigned surgery from male to female, 2 years later, he found Jesus and wish to go back to his primary gender... The system is rotten
















IjeBos:
You're not wrong. I almost moved to the Lagos pre pandemic. So, yeah at a certain level value of life in Lagos can be better.
And you're not wrong about post conviction. But with a US passport you can leave, build again and come back.

Interesting research. Did you find race/racism had an impact on recidivism?
Travel › Re: My Friend Just Got Convicted In The USA, Will He Be Deported? by xandy84: 3:21pm On Aug 30, 2023
You're right but being a citizen is not all roses. I have lived 10 years in US and I can tell you that sometimes, you're better off in Lagos than New York or LA if your life is meaningless, purposeless in US when you can start afresh and make something out of it back home. Going to jail is no fun and after you served your time, opportunities become rear at least 7 years after end of your sentence and that is the reason most criminals goes back to the life of crime.
I wrote one my my masters degree paper on compariing rate of recidivism in America and Norway. The rate of recidivism in Norway is 20 per cent while America is 60 percent and as a foreigner who has no family support, your chances of survival is even slimmer. Think about it, who get to house you, feed you, cloth you when you out of prison knowing you ain't going to get a job anytime soon. Everybody will run from you, even your brother phone number will be disconnected ASAP.











IjeBos:
True, but all things being equal, better to be a US citizen than not when dealing with the exact same situation. Like in this situation, with a US citizenship, the guy would at least be able to stay in the US with his children. And though he would be a felon, if he really wanted to he could find opportunities. But, because he's not a citizen he'll most likely be deported.
Travel › Re: My Friend Just Got Convicted In The USA, Will He Be Deported? by xandy84: 5:36am On Aug 30, 2023
You're right but things has changed lately. You will be deported if you go to federal prison for a felony. That is automatic. State prison depend on the State. Some State will not report non citizen to ICE and will just release you after the end of your sentence but the guy in question was sentenced to federal prison and homeland security prosecute his case. People who know him should have advise him to run when he was on pre-trial release cos Naija better pass jail oo.










Empiree:
You may respond to people without being aggressive in your responses. Don't scare people away, buddy.

You are free to deport him if you can. Be gentle. Some people posted simple responses to bait someone like you. So be humble my friend.

Yes, his crime is a felony. This post doesn't have enough information. There might be other conditions in his sentence we may not know about. Yes, he's vulnerable to deportation in as much he's not a citizen. You should also consider state laws which are vary. We don't have information about which state he was convicted.

So when I said his sentence was not up to 10 years I knew what I was talking about. Sometimes the law says felony conviction of non-US citizen leads to deportation but this is not always the case. He will have a lawyer to fight it right?.

So be calm and don't be hard on people the way you responded to me. You don't know where I live and you automatically assumed I never got US visa. Smh

13 years ago in New York, Indian student with green card was convicted of murder which he was not directly responsible for but his words were directly linked to the victim killing himself.

He was sentenced to almost 2 years which he already served 1 year during investigation and trial. At his sentencing, his mother pleaded to politicians to have his sentence reduced. Jury said his sentence was over 10 years which automatically attracted deported after release. But after so much pleading, jury sentenced him to 18 months or so.

The news media said the NY- state law says, sentence of 10yrs or more is deportation after release and they said the boy was lucky. So be gentle when you reply to people. Your replies are very harsh my dear.

I knew this guy's vulnerable to deportation but do I need to scare people here?. Do I need to scare his friend that posted this?. Let's be gentle and be hopeful that he is not removed after he served his term.

Thank you
Travel › Re: My Friend Just Got Convicted In The USA, Will He Be Deported? by xandy84: 5:15am On Aug 30, 2023
Even with US citizenship, after leaving prison, it's tough to get your life back in track. Nobody wants to employ someone just get out of jail and without job to pay your bills, person life go spiral out of control quickly.
America has high rate of recidivism because the system never forgive even when you pay your dues to the society.













IjeBos:
Play stupid games, win stupid prizes.

But there is a lesson here. If you can get your US citizenship, get it done. Don't procrastinate esp. since it doesn't effect your Nigerian citizenship. You, never know what happens in life. And you'd rather be facing it with the protections of a US citizenship than not.
Travel › Re: My Friend Just Got Convicted In The USA, Will He Be Deported? by xandy84: 5:04am On Aug 30, 2023
No Sir. That is now America justice system works. Prosecutor do not deport. ICE deport people from America. Once you're sentence to a prison, the prison official will inform ICE when a non citizen arrive and ICE will put a detainer on your name. The detainer prevent the prison from releasing you after you complete your sentence. ICE will pick you up from prison the day of your release and transfer you to ICE holding prison waiting for deportation. They wait because it's cheaper to deport people in groups. They charter a plane, load people going to countries closer to each other like Ghana, Nigeria etc and off they go. Case closed.















YesDaddyTill203:
He will be deported. There is no exception unless it was part of a deal (this rarely happens) where the prosecution agreed not to deport him. He will be sent to a federal deportation prison and deported once he's done with his prison sentence.
Travel › Re: 5 Reasons Why You Shouldn't Come To The UK Right Now by xandy84: 3:57pm On Aug 28, 2023
There are limited job opportunities in even US that is the largest economy in the world. Between Meta and Twitter, they have fired close to 50k people in less than 2 years. Those are professional. I stays in Virginia and a company called STIHL just fired 1200 people 2 days ago. Need for goods and services in slow and this will definitely reduce demand for employees either white, blue or black collar jobs.
Japa should be encourage but who be immigrant might just face the reality things are slow are they need to take their time to build their desire dream.












Mindlog:
There are no limited job opportunities if you are skilled in the fields they have shortage in, I am on my second UK skilled worker visa as I switched from my first job.

I went for a blood test in a teaching hospital facility recently, I saw a staff who worked there and knew he was definitely Nigerian, I briefly chatted with him and did check him out on LinkedIn, finding out he was working as a Medical Laboratory Assistant at the hospital where he started working in April and was sponsored from Nigeria by the hospital and he graduated with a Bachelor's degree in Clinical/Medical Laboratory Science/Research and Allied Professions from Ebonyi State University.

If you are highly skilled and it is in demand in the UK, japa!
Family › Re: Should Nigeria Limit Children Born Into Each Family In This Economy? by xandy84: 1:19pm On Aug 28, 2023
Let me pretend you don't I see your other post but nobody is spoon feeding me. I have a business, my wife work and we only have a daughter. We make our money is $$ so our structured is on solid ground have a good one out there.












Cromagnon:


By sending the chudren to the farm.











You are structured to fail





so you are still waiting for politician to spoon feed you? SMH
Family › Re: Should Nigeria Limit Children Born Into Each Family In This Economy? by xandy84: 12:12am On Aug 28, 2023
Nigeria is a plural society and enforcing child limit is not feasible and any politician that even suggest such law, his/her political career is dead on arrival. Why would a politician suggest a law that will make him unpopular and possibly cost him an election?
Nigeria and England population is almost about same in 1960 while Nigeria population is over 220 million now, England population is little over 60 million.
I was reading an article that say Nigeria will be the third largest country by population in 2050 but the whole country land mass is equal to the size of Texas.
The question will all need to ask is how does Nigeria intend to feed her citizens when we procreates as such an alarming rate that even developed countries will struggle to her their citizens if they are same situation as Nigeria?
Nigeria is structured to fail and when you hear politician talking about fixing the rot, all I do is laugh cos the indicator is obvious we are heading to a fail society if we don't make a 180 degree turn for the better.
Foreign Affairs › Re: Dollar Dumped? India Bought 1m Barrels Of Oil From UAE Using Rupees Instead Of $ by xandy84: 3:40pm On Aug 27, 2023
You just nailed it. There are currencies that are more stronger than $$ that nobody wants in the world. US backed $$ with innovations that the world want and most people pays top money for. Most companies in the world will die to have their stocks list on NYSE.
Any country can trade in any currency they want but as long as US keeps innovating, producing world top companies, export technologies and not banana and fruits, the value of $$ will keep rising compared to countries that offer mono product like oil.
US has more oil than Nigeria but they don't drill most on their oil. I live in Virginia Beach and the locals sue the federal government when it propose oil drilling of the coast of Virginia beach. Why? Tourism brings more money than oil could bring without environmental degradation and while oil will dry up , tourism is for life.
It's ignorant and anti-US to assume the value of $$ will fall cos BRISC will trade in local currencies because the value of $$ is based of US exports and not which countries trade with it or not. The value of Naira is affected by our trade deficit and no magic government can do that will have effect on it long term value.
















ecolime:
Good one. I've always supported trading in local currencies.

Nevertheless, it won't still scratch the value of the dollar. The US exports more than they import so na the balance of payment be the koko.

There is a reason why Pounds sterling GBP is strong like a rock despite not being used as the major world settlement currency like the USD.

As long as the US stay ahead of others in innovations, technologies, etc. they have nothing to worry.

A country that owns and hosts Apple, Google, Microsoft, Oracle, Boeing, GE, Amazon, Tesla, etc and you think their currency will just fall yakata?

Just dey play
Travel › Re: You Won't Understand Nigeria's Situation Until You Visit An Embassy by xandy84: 11:48pm On Aug 25, 2023
I agreed with you. In early 2000, Russian embassy will not collect visa fee until they want to issue you visa. I am not sure if the same policy still in place. I think visa fee should be separated from processing fee and when visa is denied, embassy should keep the processing fee while returning the visa fee to the applicant.
Nigerians makes excuses for visa denial. Zac Brown band was denial entry to Canada to go perform on a show and life goes on. Anyone can be denial entry to another country. Nigerian visa refusal is not unique. It's the basic of supply and demand. When there is increase in visa applicants, there will be correspondent increase in rejection. We need to fix our country that make traveling out to do jobs you would not even dream of doing back home discouraging.
We can debate what could, should, would but the embassy only have interest of their country at heart and it's time for Nigerians and our government start to build the country for real
















ibinaboonline:
Going by what you just said, I can't help but wonder how many Britons and Canadians are denied entry to the US each day based solely on the fact that the Americans think they're likely to stay instead of go back. I can't help but wonder. How many na? And those countries you mentioned, how many of them forfeit their application fees after they're denied visa? You really shouldn't have belittled $100. You just have to find out how many Nigerians apply each month and then do the math. That's what you need to do and then you'll understand.
I get it, though. It's their country. In fact, I've always thought it was bollocks watching migrants come to the States and start talking like and acting all entitled. I get it. My position though is that I wouldn't lead this country and allow them to keep the complete visa fees of those who got denied. I won't stand for it.
Travel › Re: You Won't Understand Nigeria's Situation Until You Visit An Embassy by xandy84: 10:14pm On Aug 25, 2023
You're funny. You think $100 visa application fee is what the embassy needs to survive? Absolutely not but visa application is optional and you're not force to apply for visa in any embassy. Do you know Canada refuse some Americans entry to their country? Do you know America deport British citizens, even Canadians to Canada?
Each embassy job is to protect their home country national interest and not to do the bidding of the country they are in.


















ibinaboonline:
Have you thought of this: When they start refunding applicants who were denied visa, that's when their pompous, wicked visa rejections will dwindle to a tickle. That's the Koko. They can just take your money and tell you to go home and rest. What else do you expect from a prideful country like America. You see Biden strutting around and promising Zelensky eternal support of money and hardware; it's this kind of money they mine for free in countries like Nigeria that gives them such backbone. When you do the math of how much the US embassy makes off of Nigeria each month, you'll weep even more for our country. They got so bold and belittling that Nigerian applicants have to pay to send an email to the US embassy. Can you believe that? You pay to email the US embassy, ff sake. I swear to God, if I was the country's leader, there's no way in hell the US embassy will keep the money of applicants who were denied visa. I don't care if it's the same everywhere else. Nigeria is a special case. They single us out, so we should single them out too. This has been on mind a long time.
Travel › Re: You Won't Understand Nigeria's Situation Until You Visit An Embassy by xandy84: 10:09pm On Aug 25, 2023
Nigeria is high risk but China and India are worse. Indians will abuse their visas, use illegal route from Canada to US and do same through Mexico but majority of skilled visas to US is been scoped up by Indians. Majority of visas been refused bring nothing to the table and the embassy just to toying with them. First time traveling has almost no chance and majority of people being refused are first time travellers. Every countries in the world abuse visas and that does not stop other citizens being issued visas. I know Canadians who had overstayed their welcome in US and vice versa for US citizens in Canada.









MT:
Blame those who were given Visitor's visa and Student's visa and abused them. Nigerians are profiled as one of the high risk Nation that will abuse visa.

Let the truth be told, over 90% of the people that were bounced would abuse their visas. The Consular Officers have seen it all. Sadly some few individuals with genuine intention will be bounced too but majority that are bounced are deserving of it.

You must give them a genuine reason why your case is different. US embassy care less about your document. Your body language and what you say will determine it. You cannot fill in your application form that you are going for tourism and you pick Indiannapolis. You have shot yourself in the leg before you utter a single word.

Stop heaping blames on the Government alone, the citizen's behaviours play key roles too.
Jobs/Vacancies › Re: Recent Layoff Workers By All Nigeria Companies by xandy84: 10:54pm On Aug 23, 2023
The young man is just making it up to feel better but Naija hunger at the moment will make even the most nonchalant sit straight. I pray he wakes up from the illusion and face reality













Evolutionlove:
You got the Drill.
Jobs/Vacancies › Re: Recent Layoff Workers By All Nigeria Companies by xandy84: 1:52pm On Aug 23, 2023
You live in alternate reality but hope you wake up and start living in real life one day. If you side income generate 3 million as you claimed, you need to quit you full time job and make your side hustle full time job but you and I know your side hustle is imaginary just like your full time job.
Making story up to make you feel better is like getting high to avoid your problems. when the effect of the drug wane, your problems still waiting for you. I make my money in $$$ so we are not competing.












Nice2023:
See,can I say one of the major problems with us is lack of financial education.

U can never be rich if u are that kind of person that expects huge amount of money at a swoop.

U can never be rich if u don't plan ur finances.

You can never be rich if you rely on other people's opinion for everything and you can never be rich if
you dont create additional income stream.

In addition,don't always generalised,I personally earn less than 150k a month,but my side income generates more than 3million monthly sometimes more,sometimes below.

That is the power of building a business.

Finally,a bad investment is better than no investment.
Jobs/Vacancies › Re: Recent Layoff Workers By All Nigeria Companies by xandy84: 1:14pm On Aug 23, 2023
How do you buy investment when average workers salary is hardly enough to feed and take care of their basic needs?















Nice2023:
If u start working in any organisation,from the first day,start buying investment with ur money.

The world especially Nigeria is too harsh not to have secondary income.
Business › Re: FG Mulls Redenomination Option To Stabilise Naira by xandy84: 5:44pm On Aug 20, 2023
Ok but what did that fix? Nothing and you can look at Ghana who did same in the past are back from where they started from. Re-denomination of Naira does not affect purchasing power of average Nigerians but government lose money changing the design of Naira and confusion that comes with it.











okeysoninv:
Absolutely, there is no way we can survive with out redenomination of naira. Once naira close the maximum threshold of #1000 per a dollar we can remove a zero . Making 100 naira equal to $1. As of 2013 rate.
Career › Re: Advise Me: What Is The Best Course A Female Philosophy Graduate Do At Masters? by xandy84: 5:20pm On Aug 16, 2023
What the OP is going thru now, lots of people are going thru same and sometimes, we usually take the familiar route. We want to do a master's when we have a bachelor's degree or doctorate when we have a master's degree thinking we will stand a better chance after we finish but the problem is labor market is saturated home and abroad. Any degree without a unique skill put you at disadvantage even in US not to talk of Nigeria. I have a friend that has MBA but drives Uber in US. I have MEd but had to go start my own business cos what teaching will offer me even in US will hardly pays my bills.
Higher qualifications home or abroad ain't the solution because if your bachelor's degree is not in demand, I doubt if masters will make a difference.









wunmi590:
Spot on brother, spot on
Career › Re: Advise Me: What Is The Best Course A Female Philosophy Graduate Do At Masters? by xandy84: 1:00pm On Aug 16, 2023
No offense should be taken because you said the reality. Masters degree without plans achieve nothing. Why invest time and money in a master's degree and after graduation, you end up from where you begin? OP need to do a soul search and decide what he/she actually wants to do. More degree without a game plan is paper stacking cos there are people with masters degree without a job.














wunmi590:
huh

If at this stage, as a graduate of philosophy and you are asking us what course you should do for your masters, then you shouldn't even have any busness doing master, because I'm not sure you have a lay out plan for your career...

Or you just want to do it, so that people can say you are a masters holder

It better to use the money to start bisness and see how it grows in 1-2years time...

No offence, I'm just being blunt
Career › Re: Advise Me: What Is The Best Course A Female Philosophy Graduate Do At Masters? by xandy84: 12:53pm On Aug 16, 2023
Do Nigerian universities discontinue courses that has outlived it relevance? Universities world over do cost-benefits analysis on discipline and will discontinue it if such course can't support itself. Most universities are doing away with Arts and liberal studies, foreign languages are mostly minor now and only few school will offer languages as a full degree. Our world is changing and any course that does not offer specific skill put you at disadvantage. Imagine someone studying Russian language for four whole years. Even Russians does not study their language and why would a Nigerian think he has a shot a better life studying such language?
Family › Re: Married Men With No/ Low Source Of Income, How Are You Coping? by xandy84: 12:18pm On Aug 16, 2023
I can only imagine a man with kids and broke. Nothing is worse than this feelings in the world. The most annoying part is not that he does not want to work, it's either he can't find anything meaningful or the one he find pay so low he can hardly take care of his family. Naija is closer to hell compare to other countries for real.
Foreign Affairs › Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by xandy84: 3:47am On Aug 15, 2023
How do we get to using %96 of revenue for debt servicing? I am scared for Nigeria for real. We need to cut cost of governance by %90 per cent. Only one senator from each states instead of 3. 200 max house of representative. No more than 10 commissioners in every states. Part time state legislators in every states i.e Virginia. Nigeria is a poor country and it's time we accept reality and start cutting costs in all aspects of governance. We can't expect poor people to make sacrifices while it's business as usual for politicians.









grandstar:
The issue has never been about those abusing the subsidy. The issue is the subsidy itself.

As at May 28 this year, a litre of crude oil used to process it into petrol cost 47cents per litre. Multiply that the unrealistic exchange rate at the time of 440 to a dollar and that brings the price to N208 per litre of crude oil. The petrol price then was 195 per litre

That means it was cheaper to buy petrol in Nigeria than the crude oil it is made from. It was even the unrealistic rate of 440 used. If the more realistic 770 rate is used, the figure will be more frightening. We are yet to add refining cost and all minor costs? The subsidy would have been at least 250 per litre. Multiply that by 50m litres a day [b](this is very conservative) [/b]and you have 12.5bn daily. Multiply that by 365 and you have around 4.65bn in a year. The government estimated that the fuel subsidy would cost about $10bn this year alone. This is about 2.2% of GDP.

Already, debt servicing was to consume 96% of government revenue this year. Where then is the more to subsidize petrol? The money no longer exists. The government is not borrowing for an investment that would yield interest to pay off the loan but something that would only add on to the country's unsustainable debt burden.

Is the subsidy removal biting my butt? Yes. I have only bought petrol once since the subsidy was removed. Do I support the removal? Yes. It was the right thing to do.

Even if the sub
sidy would cost the government nothing, it caused a lot of damage. It discouraged investment in the refining of crude oil. No one would build a refinery in a country where the government subsidizes the price of main products. Subsidy basically means selling it below the market price. Dangote and Bua could proceed because they could use their very profitable cement businesses as collateral.

Had the subsidy been done away with in the 1990s, by now, the country would be refining at least 2million barrels of crude oil daily. It would have a ripple effect on the oil industry and the economy. Nigeria would definitely be the no.1 petrochemical giant in Africa, same with fertilizer, second largest gas exporter in Africa, Africa's largest oil logistic hub and so on. The subsidy cost the country a lot of things. I won't be surprised if GDP would not be at least 3 times what it is today.
Foreign Affairs › Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by xandy84: 3:35am On Aug 15, 2023
Devaluation help if tailored towards a macroeconomics indices in mind. A country like China has been devaluating her currency for years to make export cheaper while average Chinese shun import because it's too expensive. Naira devaluation is tailored toward nothing. We export nothing and import everything and that is our major problem. Import is out of reach and most businesses will close shop because they can afford raw materials, hereby increases unemployment while we have nothing to offer the world in term of export.










Revolution2022:
Devaluation of the currency doesn't help the economy of a country.Nigeria has been devaluing the Naira.Still,the economy has not improved.
Business › Re: CBN Takes New Measures To Save The Naira From Crash by xandy84: 6:54pm On Aug 14, 2023
Informed write-up but I don't think quantitative easing will work for Nigeria to be honest. Example of Zimbabwe and Venezuela comes to mind. When a country produce less like Nigeria, quantitative easing will bring the value of local currency next to nothing.
Reduction of interest rate sound like a good idea but still, the government need to aid exchange rate cos 💯 naira floating na die.
We need to increase local production for at least 5 years and then will can float the Naira 💯 but as it stands now, Naira to dollar will reach 5k before end of 2025.






.


imoh4king:
Is it nairalanders or Nigerian youths that are clouded with ignorance?

There are certain measures employed by Central Banks globally to ease depreciation of any particular currency. One of such is
QUANTITATIVE EASING.... This is when the depreciating cash is pumped into the economy which will ease supply of the quoted currency thereby strengthening it.

The second method is REDUCTION IN MONETARY INTEREST RATE.... This is the borrowing interest rate pegged by the Central Bank of the depreciating economy to attract foreign investors which also strengthens the base currency.

There are numerous other methods...

Read up.
Business › Re: CBN Takes New Measures To Save The Naira From Crash by xandy84: 6:45pm On Aug 14, 2023
While I support most of his policies, the implementation is wrong. Removing 💯 subsidy is a grave mistake. Subsidy should have been removed incremental like 25 per cent every quarter so the economy can adjust and supply and demand find it equilibrium but he removed it once and kill almost every small businesses. I will give you an example. I have a friend to import rice from US. A bag of rice usually cost 50k before Tinubu regime but the same bag cost 100k now. He has over 200 bags of rice without a single buyer. The astronomical rise in price makes it impossible for businesses to survive and hereby multiple our unemployment rate.
You don't remove subsidy and float the naira without the economy taking a major hit.














Putinofrussia:
The defending and co that made CBN get indebted to JP Morgan and co to the tune of $15 billion...fifteen billion dollars shocked.
Almost half of the Nigerian reserve.
Emefiele supported by Buhari has really decimated Nigeria gravely.

Nigeria is gravely short of forex making the supply of dollar small and shooting up the value of dollar to Naira.

I really pity Tinubu but I trustt he will pull Nigeria out of this doldrum.This one will require the real...no pain,no gain Marxim.
All of us are just impatient grin
Business › Re: CBN Takes New Measures To Save The Naira From Crash by xandy84: 6:40pm On Aug 14, 2023
While I support most of his policies, the implementation is wrong. Removing 💯 subsidy is a grave mistake. Subsidy should have been removed incremental like 25 per cent every quarter so the economy can adjust and supply and demand find it equilibrium


Putinofrussia:
The defending and co that made CBN get indebted to JP Morgan and co to the tune of $15 billion...fifteen billion dollars shocked.
Almost half of the Nigerian reserve.
Emefiele supported by Buhari has really decimated Nigeria gravely.

Nigeria is gravely short of forex making the supply of dollar small and shooting up the value of dollar to Naira.

I really pity Tinubu but I trustt he will pull Nigeria out of this doldrum.This one will require the real...no pain,no gain Marxim.
All of us are just impatient grin
Autos › Re: Why Does This Truck Have So Many Tires? (Photo) by xandy84: 9:49pm On Aug 10, 2023
That would have been correct the Oyinbo found a solution for such problem. It's called rear differential and on trailers, wheels are almost independent of each other's.






goodmouth:
That's not practical, turning the truck will put the rear tires under serious stress.
Autos › Re: Why Does This Truck Have So Many Tires? (Photo) by xandy84: 9:47pm On Aug 10, 2023
It's has so many tires cos the truck is not real. First, the tires are so close that it makes not sense when it comes to spreading the loads. Second, the truck is so long that it will be unlikely to be able to turn in an intersection. Dump trucks that carry heavy loads are usually short while trailers are usually limited to 53 feet so that they can usually maneuver.
Foreign Affairs › Re: Aïchatou Boulama Kané: Niger Ambassador To France Says Nobody Can Sack Her by xandy84: 7:59pm On Aug 04, 2023
Really!! It takes a lot to be an ambassador. Do you know what it means to be a refuge in a foreign land?









Akpangbo:
She is seeking for refugee status in france.
Travel › Re: Memoirs From Chile by xandy84: 7:00pm On Aug 04, 2023
Not Chileans. They are well respected in US. Very few Brazilians migrate to US too. Africans don't clean toilet but work in group home which ain't too different from toilet cleaning.
The reality of traveling abroad is you ain't going to get blue collar jobs in your first few years. You will have to work you way up and create a notch for yourself.















RaptorX:
The same Latin America from where they are all jumping the US border illegally by the millions including Chileans and Brazilians to come and be cleaning toilets, picking crops under hot sun, working in Macdonald's, doing back breaking construction jobs while no speky English. All the low wage menial crap jobs that even Africans will not touch. Never saw an African clean toilets in the US, because 99% of toilet cleaners are Latinos wonder why they didn't all go to the paradise in Chile and Brazil so keep deceiving the gullibles like yourself on NL.

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