Mkenya2019:
Of course you cannot counter that. Your country macro-economics are a lot similar to Zimbwabwe or Venezuela than say Kenya. Admittedly Ghana is doing even more baldy. Control your inflation, bring down your interest rates, float Naira and maybe you can rejoin the progressive nations like kenya with single-digit inflation, single digit MPR, and who knows even soon single -digit lending rates.

Or what do you think Zoo-man from Nigeria.

How is Ghana doing more badly?

Mkenya2019:
That is what happens when you live in backward nations, received backward educations and now have to suffer thro endemic poverty as banks charges you 30% and inflation is at 13% - and now with border closure - expect inflation to go thro the roof - and banks to start charging your 40%.

Nigeria is nothing but a ZOOOOOOOOOOOOOOOOoooo.

the average Nigerian doesn't receive 30% interest rate on bank loan, different sectors has different interest rate, the highest being oil and gas sector cos of the longetivity of d loan, which is not even up to 30%.

Another reason u amuse me with ur postulations.

vaxx:
How is Ghana doing more badly?

oga, leave that one alone jare, he doesn't know what he's talking about.

theenchanter:
oga, leave that one alone jare, he doesn't know what he's talking about.

Tell Nigeria goverment to open its border and let buisness continue as usual ...... many innocent victim are captured ( I personally know Nigerians who are into legitimate and profitable buisness that have been affected)

I think your macro-economics are not that great - inflation at double digit, mpr rate of 17%, interest rate of 20% plus - but admittedly your economy is growing very fast (hopefully inflation doesn't make nonsense of that).

vaxx:
How is Ghana doing more badly?

I gave you a link that shows Nigeria interest rates by various banks - They are shockingly high - take Zenith -your biggest banks- Min for all sectors 19% - max 30%. How do you even manage to borrow and repay your loans?

theenchanter:
the average Nigerian doesn't receive 30% interest rate on bank loan, different sectors has different interest rate, the highest being oil and gas sector cos of the longetivity of d loan, which is not even up to 30%.

Another reason u amuse me with ur postulations.

It surreal that somebody can block a border to stop smugglers somethings Nigeria do - only Nigerians can do. I mean long border btw Benin and Nigeria or Nigeria-Cameroon is not fenced - so what stops the rice smugglers from just crossing over anywhere they want.

Only legitimate business are suffering. Ecowas or even Africa Free Trade cannot functions with some of these moronic nations.

Anyway inflation will force them to open the borders. Benin & Cameroon smugglers have been helping Nigeria survive the tough economic times...now if you buy rice manufactured in Nigeria....that will be expensive.

vaxx:
Tell Nigeria goverment to open its border and let buisness continue as usual ...... many innocent victim are captured ( I personally know Nigerians who are into legitimate and profitable buisness that have been affected)

Fuckeduppedness I no fit laugh ooooh naija is just useless the country, the people come and see how they are disgracing themselves here in Singapore chai, naija oooooh

theenchanter:
lol, continue with ur hallucination jare.

vaxx:
Tell Nigeria goverment to open its border and let buisness continue as usual ...... many innocent victim are captured ( I personally know Nigerians who are into legitimate and profitable buisness that have been affected)

the western border closure is as a result of smuggling, its just for a short period of time.

Too much smuggling of restricted goods on that border.

Mkenya2019:
I gave you a link that shows Nigeria interest rates by various banks - They are shockingly high - take Zenith -your biggest banks- Min for all sectors 19% - max 30%. How do you even manage to borrow and repay your loans?

and I told u Nigerians borrow money from banks through LDR, not through MPR.

Do u even understand a bit of economics at all?

Mkenya2019:
I think your macro-economics are not that great - inflation at double digit, mpr rate of 17%, interest rate of 20% plus - but admittedly your economy is growing very fast (hopefully inflation doesn't make nonsense of that).

Not true, As I am typing , Ghana inflation rate is dropping ( 7.6 percent from earlier 9.3) interest rate pegged at 16 percent , producer price index is dropping... infact all economic indicator suggest Ghana macroeconomics is healthy.....

Don’t mind those nigerians. Next time anyone tell you nigerians are smart people, slap the hell out of that goat tell them I gave you permission to slap. how can anyone tell me that in the year 2019, closing borders is the way to deal with smuggling very funny. But why are people surprised? Nigeria is a MUMU country, led by an illiterate, certificateless cattle rearing president. You see what they say that a country gets the leader it deserves? This is sooo true of Nigeria every country in the moving forward,some slow some fast. Only Nigeria is moving backwards the MUMUs produce 2.5 million barrels of oil daily and billions scf of gas daily, yet look at them

Mkenya2019:
It surreal that somebody can block a border to stop smugglers somethings Nigeria do - only Nigerians can do. I mean long border btw Benin and Nigeria or Nigeria-Cameroon is not fenced - so what stops the rice smugglers from just crossing over anywhere they want.

Only legitimate business are suffering. Ecowas or even Africa Free Trade cannot functions with some of these moronic nations.

Anyway inflation will force them to open the borders. Benin & Cameroon smugglers have been helping Nigeria survive the tough economic times...now if you buy rice manufactured in Nigeria....that will be expensive.

You're incorrigible.The loan-to-deposit ratio (LDR) is used to assess a bank's liquidity by comparing a bank's total loans to its total deposits.

CBN set the LDR - at 60% - meaning banks are suppose to lend out 60% of deposit as loans. That is sort of forcing banks to lend...and not sit around deposits.

Now the banks don't lend at LDR rate. They lend money at interest rate that is available out there. Your rate go as high as 30%. Even shylocks would be afraid to lend at those rates?

What an idio.ot.

theenchanter:
and I told u Nigerians borrow money from banks through LDR, not through MPR.

Do u even understand a bit of economics at all?

Keep quiet. Nigeria is fvcked! End of story who told you closing borders will stop smuggling? why don’t you close your seaports and airports as well? MUMU countri naija go soon enter recession then your eyes go clear well well Fuckeduppedness

theenchanter:
the western border closure is as a result of smuggling, its just for a short period of time.

Too much smuggling of restricted goods in that border.

This thread has been an eye-opened. Honestly around 2014 when Nigeria were growing at 10% (oil boom) - those days I use to think highly of Nigeria - but I have come to understand very clearly how dysfunctional & backward the country is. I think Somalia has more prospect that Nigeria.

MUMUdom:

Don’t mind those nigerians. Next time anyone tell you nigerians are smart people, slap the hell out of that goat tell them I gave you permission to slap. how can anyone tell me that in the year 2019, closing borders is the way to deal with smuggling very funny. But why are people surprised? Nigeria is a MUMU country, led by an illiterate, certificateless cattle rearing president. You see what they say that a country gets the leader it deserves? This is sooo true of Nigeria every country in the moving forward,some slow some fast. Only Nigeria is moving backwards the MUMUs produce 2.5 million barrels of oil daily and billions scf of gas daily, yet look at them

theenchanter:
the western border closure is as a result of smuggling, its just for a short period of time.

Too much smuggling of restricted goods in that border.

The reality is that Ghana needs Nigeria cus Ghana is seriously transforming its manufacturing sector rapidly ( 30 million people is not enough) therefore Ghana will need Nigeria to offload its market . and this will not only benefit Ghana only as Nigeria too will also be part of the success . the manufacturing sector alone contribute about 8 billion dollar to the economy last year


As i have study, Nigeria leader are known to be radical , only few of them believe in the spirit of Africa unionism which Ghanaian leaders are famous for......

That is great - I am glad you've reigned on run-away inflation, currency depreciation and are back - as one of the world fastest growing nation. There is a lot Nigeria can learn from Ghana.

vaxx:
Not true, As I am typing , Ghana inflation rare is dropping ( 7.6 percent from earlier 9.3) interest rate pegged at 16 percent , producer price index is dropping... infact all economic indicator suggest Ghana macroeconomics is healthy.....

Honestly business people look at Nigeria - and it's very alluring - 200m people - but the leadership is corrupt & stupid ( a deadly combination), the business environment very tough, infrastructure completely broken down and those people very poor. You have better prospect if you focus on doing business with Ivory Coast for example.

You should only go to Nigeria if you're interested in oil & gas industry. Otherwise chance of coming out without your shirt is very high.

vaxx:
The reality is that Ghana needs Nigeria cus Ghana is seriously transforming its manufacturing sector rapidly ( 30 million people is not enough) therefore Ghana will need Nigeria to offload its market . and this will not only benefit Ghana only as Nigeria too will also be part of the success . the manufacturing sector alone contribute about 8 billion dollar to the economy last year


As i have study, Nigeria leader are known to be radical , only few of them believe in the spirit of Africa unionism which Ghanaian leaders are famous for......

Mkenya2019:
That is great - I am glad you've reigned on run-away inflation, currency depreciation and are back - as one of the world fastest growing nation. There is a lot Nigeria can learn from Ghana.

Ghana currency depreciation is structural not based on weak micro/ macro economic performance. Ghana is highly dollarised( the demand and taste for dollar is extremely high) and Ghana being a lower middle income country suggest that his dependence on aid will be limited ( This all contribute to the continual cedi depreciation) though goverment. have plan to arrest it, there is about 9.4 billion dollar on Ghana forex reserve to stabilized the currency and the cash is expected to jump into 10 billion and more dollar before November...

The cedi has been stable for the past four month.....

You are perfectly correct and they are soo arrogant and disrespectful that no one can feel sorry for them no country wants to admit nigerians because of their bad behaviour. And things are getting worse because their leaders don’t care about the people. I just arrived in Singapore and didn’t need a visa to come here(with my Ghanaian passport) whereas the nigerian alhaji who sat with me on the flight was lamenting how his wife was denied visa to travel to Singapore with him meanwhile this is a Nigerian “big man” from katsina state. Chai, nigeriaaaaaaaaa

Mkenya2019:
This thread has been an eye-opened. Honestly around 2014 when Nigeria were growing at 10% (oil boom) - those days I use to think highly of Nigeria - but I have come to understand very clearly how dysfunctional & backward the country is. I think Somalia has more prospect that Nigeria.

Carrying a Nigerian passport must be a complete torture to a traveller.

MUMUdom:
You are perfectly correct and they are soo arrogant and disrespectful that no one can feel sorry for them no country wants to admit nigerians because of their bad behaviour. And things are getting worse because their leaders don’t care about the people. I just arrived in Singapore and didn’t need a visa to come here(with my Ghanaian passport) whereas the nigerian alhaji who sat with me on the flight was lamenting how his wife was denied visa to travel to Singapore with him meanwhile this is a Nigerian “big man” from katsina state. Chai, nigeriaaaaaaaaa

Mkenya2019:
Honestly business people look at Nigeria - and it's very alluring - 200m people - but the leadership is corrupt & stupid ( a deadly combination), the business environment very tough, infrastructure completely broken down and those people very poor. You have better prospect if you focus on doing business with Ivory Coast for example.

You should only go to Nigeria if you're interested in oil & gas industry. Otherwise chance of coming out without your shirt is very high.

Honestly that will have been the best option if the purchasing power of other state in the ecowas sub region is comparable or has a little bigger population.... but unfortunate, Nigeria is the only nation in that category, it has comparable purchasing power and a bigger population size to consolidate it....

Ghana is building its infrastructure, the demand for Nigeria oil might stop very soon than predicted . Ghana already have the oil to fuel its citizens but not enough infrastructure to deploy it. Taxis cars in Ghana uses gas, even gas are used to fried road side beans cake or smoked out animal hairs in abattoir ... therefore Ghana demand for it is just abnormal....


well, There are some technocrat in Ghana who is thinking of value chain product whose market is not limited to size but by value ( for example exporting to Switzerland 9 million population will be better than exporting to Nigeria 200 million population cus the former understand luxury and can pay for it while the later is just big but poor but Ghana must be able to add value to its product before it can get that.... that is a whole lot of works....

theenchanter:
the western border closure is as a result of smuggling, its just for a short period of time.

Too much smuggling of restricted goods in that border.

That's what you have been told. No such thing as
smuggling happens on the border, major smuggling happens where border officials are absent. You are all being fooled.

Mkenya2019:
It surreal that somebody can block a border to stop smugglers somethings Nigeria do - only Nigerians can do. I mean long border btw Benin and Nigeria or Nigeria-Cameroon is not fenced - so what stops the rice smugglers from just crossing over anywhere they want.

Only legitimate business are suffering. Ecowas or even Africa Free Trade cannot functions with some of these moronic nations.

Anyway inflation will force them to open the borders. Benin & Cameroon smugglers have been helping Nigeria survive the tough economic times...now if you buy rice manufactured in Nigeria....that will be expensive.

Nigerian rice has been going down in price ever since the border closed next week it is expected to become 10 000N from the current 16 000N, just 10 000N for 50kg for 25kg is 5 000N and your telling me that is expensive that is like 5-8 dollars

Plus the economies of Niger and Benin are suffering not Nigeria's nothing whatsoever is happening to Nigeria as a side effect if the border closure other than we have increased output of local agricultural produce

And buhari said about the AFCTA I signed a free trade agreement not a free smuggling agreement the air and sea borders are open what is happening is countries like Thailand go to be in Port because it is cheaper than they smuggle it through to the Nigerian markets they are avoiding the taxes and duties at our ports.

Plus no Ghanaian can even speak alomo bitters lost over 2 million dollars because of the border closure it is affecting your kinsmen more than it is affecting ours please we are the poverty capital of the world let us enjoy our poverty in please

Also Ghanaians calm down with all this inflation, currency bla bla next year we may have the exact same currency the Eco just wait for us to quickly get our inflation down then by may 2020 maybe we will have the same currency so no more arguments anymore.

I think it more trust - people have bad memories of CEDIS - and want to keep the dollar just in case of hyper-inflation. I think your gov can crack-down on dollarasation by making it illegal to pay anything in dollars. Most countries do that. Demanding payment in USD in kenya is somewhat illegal.

vaxx:
Ghana currency depreciation is structural not based on weak micro/ macro economic performance. Ghana is highly dollarised( the demand and taste for dollar is extremely high) and Ghana being a lower middle income country suggest that his dependence on aid will be limited ( This all contribute to the continual cedi depreciation) though goverment. have plan to arrest it, there is about 9.4 billion dollar on Ghana forex reserve to stabilized the currency and the cash is expected to jump into 10 billion and more dollar before November...

The cedi has been stable for the past four month.....

vaxx:
The reality is that Ghana needs Nigeria cus Ghana is seriously transforming its manufacturing sector rapidly ( 30 million people is not enough) therefore Ghana will need Nigeria to offload its market . and this will not only benefit Ghana only as Nigeria too will also be part of the success . the manufacturing sector alone contribute about 8 billion dollar to the economy last year


As i have study, Nigeria leader are known to be radical , only few of them believe in the spirit of Africa unionism which Ghanaian leaders are famous for......

That is why we need the Eco currency it will help trade between Ghana and Nigeria so much if Nigeria and Ghana shared a border the amount of trade and money and industries that would grow would be so surprising

I've been thinking why don't Kantanka and Innoson merge they would become one of the largest car companies in the world after a few years they are already the top two largest car companies in Africa

We would be producing everything for Africans public transport buy from us, garbage disposal easy, ambulance done, fire trucks anything car they will have it, would be so beneficial to both our economies.

The problem is your taxation policy - few people want to engage in criminal activities like smuggling.
You have to set the tax at rate that will encourage local production and discourage imports - but not encourage smugglers.
So for example - if you had zero interest on rice - you start with 10% - then after 2 yrs raise it to 15% - as local production also improves.
You don't wake up like Nigeria and jack it up to 50-100% - then risk-reward for smuggling starts looking good.
What basically happened is Nigeria rice purchases - were immediately taken over by Benin & Cameroon smugglers.
Now blockading the border is yet another moronic decision.

Nigeria has a serious combination of stupid and corrupt leadership led by the cow-man Buhari.

Kenya has serious corrupt leadership but they are not stupid - they listen to our policy wonks who are very good.

If Nigerian farmers are producing cheap rice - open the borders for international rice to compete - otherwise smuggling routes will simply change.

If not - raise the duty to something like 10-20%. Don't have list of ban imports - that is just moronic because smugglers will bring those banned items to Nigeria.

Abohboy:

Nigerian rice has been going down in price ever since the border closed next week it is expected to become 10 000N from the current 16 000N, just 10 000N for 50kg for 25kg is 5 000N and your telling me that is expensive that is like 5-8 dollars

Plus the economies of Niger and Benin are suffering not Nigeria's nothing whatsoever is happening to Nigeria as a side effect if the border closure other than we have increased output of local agricultural produce

And buhari said about the AFCTA I signed a free trade agreement not a free smuggling agreement the air and sea borders are open what is happening is countries like Thailand go to be in Port because it is cheaper than they smuggle it through to the Nigerian markets they are avoiding the taxes and duties at our ports.

Plus no Ghanaian can even speak alomo bitters lost over 2 million dollars because of the border closure it is affecting your kinsmen more than it is affecting ours please we are the poverty capital of the world let us enjoy our poverty in please

Also Ghanaians calm down with all this inflation, currency bla bla next year we may have the exact same currency the Eco just wait for us to quickly get our inflation down then by may 2020 maybe we will have the same currency so no more arguments anymore.

Abohboy:



Nigerian rice has been going down in price ever since the border closed next week it is expected to become 10 000N from the current 16 000N, just 10 000N for 50kg for 25kg is 5 000N and your telling me that is expensive that is like 5-8 dollars

Plus the economies of Niger and Benin are suffering not Nigeria's nothing whatsoever is happening to Nigeria as a side effect if the border closure other than we have increased output of local agricultural produce

And buhari said about the AFCTA I signed a free trade agreement not a free smuggling agreement the air and sea borders are open what is happening is countries like Thailand go to be in Port because it is cheaper than they smuggle it through to the Nigerian markets they are avoiding the taxes and duties at our ports.

Plus no Ghanaian can even speak alomo bitters lost over 2 million dollars because of the border closure it is affecting your kinsmen more than it is affecting ours please we are the poverty capital of the world let us enjoy our poverty in please

Also Ghanaians calm down with all this inflation, currency bla bla next year we may have the exact same currency the Eco just wait for us to quickly get our inflation down then by may 2020 maybe we will have the same currency so no more arguments anymore.

Kaseperoko is a multi million company, i actually don't think the two million dollar lost is any of a big deal, they already have market in place to consolidate it( it is the constants lost that maybe unbearable). the company manager already identify cote devoire , Senegal and benin as the new market where they hope to cover the Nigeria lost.

Ghana and Nigeria. goverment have reach a compromised and it is expected to be fruitful in the next two weeks....

Ghana economy is not in anyway affected as it's crucial goods( Oil, cocoa, gold ) are not what ecowas can buy......

Mkenya2019:
You're incorrigible.The loan-to-deposit ratio (LDR) is used to assess a bank's liquidity by comparing a bank's total loans to its total deposits.

CBN set the LDR - at 60% - meaning banks are suppose to lend out 60% of deposit as loans. That is sort of forcing banks to lend...and not sit around deposits.

Now the banks don't lend at LDR rate. They lend money at interest rate that is available out there. Your rate go as high as 30%. Even shylocks would be afraid to lend at those rates?

What an idio.ot.

LMAO i knew u would F. up at d end of the day. The bolded summarizes ur ineptitude.

LDR interest rate is diff from MPR interest rate, LDR interest rate is 3.5% while MPR is 14%.

Zenith bank interest rate is between 17% and 27% depending on the terms. But then, Zenith is one of the banks in Nigeria.. some banks like GTB and UBA charge between 7% and 20%, its all about the terms ( long term or short term ) and u're free to borrow money from any bank that suit ur want.

U don't just use Zenith bank as the main factor of Nigerian banks interest rate.

vaxx:
Kaseperoko is a multi million company, i actually don't think the two million dollar lost is any of a big deal, they already have market in place to consolidate it( it is the constants lost that maybe unbearable). the company manager already identify cote devoire , Senegal and benin as the new market where they hope to cover the Nigeria lost.

Ghana and Nigeria. goverment have reach a compromised and it is expected to be fruitful in the next two weeks....

Ghana economy is not in anyway affected as it's crucial goods( Oil, cocoa, gold ) are not what ecowas can buy......

OH okay good to know but Benin and Niger are still suffering from this border closure and that is the truth

gallivant:


That's what you have been told. No such thing as
smuggling happens on the border, major smuggling happens where border officials are absent. You are all being fooled.

u're not a west african... u don't know anything concerning this.

Abohboy:


OH okay good to know but Benin and Niger are still suffering from this border closure and that is the truth

For all of you calling Abuja a potiskum village check out th is Pic from today rainy day in Abuja cbd there are 7 more buildings planned for the complex and a mall giving Abuja 9 new skyscrapers.