richmond500:
Do u know the meaning of executive power?
NL should be showing people's age so we know who is engaging us abeg.
It's frustrating talking to kids

MIKOLOWISKA:
Do you know what legislative power is?
How old were you when abacha had executive power?
What of murtala, ironsi nko?
Why didn't Ibb stay put since he had executive powers?
You think you're the only one with power Ko?
Other power brokers will just be looking at you riding roughshod over them that brought you to power? Even sauron needed an Orc army even thanos dare not try to do it alone and you think some barely popular politician Will do and undo with no challenge?

How old are you?

richmond500:
Our currency is floating, with insecurities and investors trusts at stake. Borrowing money to defend a currency that is floating is not something anyone should do.
I'd rather he peg the currency back to USD. Not to borrow.
It only make sense to borrow and defend a currency when the currency has a chance of being stable, not the naira.

richmond500:
Executive power is the power that is democratically given to the head of the executive arm of govt, in other words, "the president"
Know the difference between executive power and abuse of power.

Opera mini has made it possible for kids to join NL and argue over everything

MIKOLOWISKA:

Oya do legislative power?
Or no check and balance in your own opera maxi?
You know you've lost when you resort to insults instead of arguing your point
Free megabytes sha

richmond500:
I've lost? Kid, I am not argue to win an argument. It doesn't bother me, stop mentioning me anyways, ur mention someone irritates me TBH

being:
Question: U re the eldest brother in a house of several children.. u have been away for a while and your immediate brother has been in charge of the family and business which brings in money.... U came back home to discover the business is not making half of the money it was making b4 and infact ur brother has borrowed heavily so that the family can maintain 60% of the previous lifestyle... he has borrowed so much that almost all the little revenue coming in is going to paying debt and so he keeps borrowing..

What do u do when u come back to take over?
Do u stop borrowing, ensure all revenue goes to paying debt and STARVE the family to death?
OR IMPROVE the business REVENUE, renegotiate debt payment terms and make sure that basic things are still provided the family while other kobo of income goes to paying debt...
@richmond500, @mrvitalis

being:
Question: U re the eldest brother in a house of several children.. u have been away for a while and your immediate brother has been in charge of the family and business which brings in money.... U came back home to discover the business is not making half of the money it was making b4 and infact ur brother has borrowed heavily so that the family can maintain 60% of the previous lifestyle... he has borrowed so much that almost all the little revenue coming in is going to paying debt and so he keeps borrowing..

What do u do when u come back to take over?
Do u stop borrowing, ensure all revenue goes to paying debt and STARVE the family to death?
OR IMPROVE the business REVENUE, renegotiate debt payment terms and make sure that basic things are still provided the family while other kobo of income goes to paying debt...
@richmond500, @mrvitalis

richmond500:
improve revenue, renegotiate debt payment and make lasting decisions that will bounce back the business.

It's same model the present administration is doing.
U can't be borrowing more to expand business that is choked with debt already.

mrvitalis:

Tell me you don't know jack about business without telling me you don't know jack about business

How would u improve revenue without expanding business and how would u expand without borrowing

mrvitalis:

Tell me you don't know jack about business without telling me you don't know jack about business

How would u improve revenue without expanding business and how would u expand without borrowing

being:
Lols @richmond500, @mrvitalis.. I'm enjoying this your debate on the simplified version of Nigerian problem... So for more reality, the business is crude production... it has declined cos of lack of new investment by the oil coys(old wells are dying out), insecurity and policy inconsistency... we used to produce 2.1mbpd b4 buhari came in... he left it at 1.1mbpd.. another reason for revenue decline is oil price from over $100 in 2014 to aboutt $75 now.(beyond our control)

richmond500:
You are not very smart. ur business is on the verge of collapse due to debt and ur only way of salvaging the business is to acquire more debt?
You think banks are daft when they stop lending money to some companies that is ridden with excess debts?
One of the ways to get out of debt is to sell shares, or rather sell some assets.
Diamond sold all his shares to Access when they got into debt, if the best idea was to borrow, they wouldn't have sold their company?
U are just the obidient version of HELL-ANUS.

You defend blindly and stupidly

mrvitalis:

The problem is Nigeria is focused on selling one products that others are selling and selling to sale cheaper than your production cost

The trick is to borrow more money and start selling other products that are moving

We import stock fish from Norway valued at about 30 million dollars yearly... But Norway imports chocolate valued at 200 million dollars per year

Offer interest free loans to the already existing chocolate producers in Nigeria, link them up to Norway chocolate importers to produce according to the taste of Norway people ( this is why Presidents make trips)

We import from China, but china needs corn to feeds it's pigs ducks and chicken... U know what else can replace corn? Dried cassava

Empower our cassava farmers, given loans to buy equipments to dry cassava chips and link then to China to balance our trade

This are just few examples... Things things no hard we have not just had smart leaders

richmond500:
improve revenue, renegotiate debt payment and make lasting decisions that will bounce back the business.

It's same model the present administration is doing.
U can't be borrowing more to expand business that is choked with debt already.

mrvitalis:

As long as that business have asset and have a new management team banks would give them more loan... It was done for Trump, it was done for ifeanyi uba... You obviously never done business before

Banks don't care so much about loan payments they care about interest payment

Like I said this things are way above your leagues

richmond500:
when 90%+ of ur earning is used to service debt.
I said it, u are not very smart

being:
hmm. so u are looking more into import substitution and massive exportation drive asides crude & minerals.
I wanted to point out that the fundamental problem is revenue which is what led to the borrowing to keep up.. And yet, nobody is talking about improving that revenue as a matter of emergency!!

phantom:



Okay, let's engage... Do you know the benefits or advantages of a stable currency to your economy

mrvitalis:

Stability of an exchange rate is the fundamental thing needed for economic development

It's what build trust on the currency trust

Trust is the most valuable thing of an economy

mrvitalis:

But the new debt I'm talking about pays for it self oga and brings in revenue

Your point is invalid

mrvitalis:

As long as that business have asset and have a new management team banks would give them more loan... It was done for Trump, it was done for ifeanyi uba... You obviously never done business before

Banks don't care so much about loan payments they care about interest payment

Like I said this things are way above your leagues

LegendHero:

So you mean you don’t pay part of the principal in the monthly repayments? Why then does loan have term of payment if bank only care about interest only ?

How will they be liquid if they can’t get their principal? Or you think banks just manufacture money from the air?

richmond500:
new debt pays for itself?
Wawu

LegendHero:


How does borrowing money to defend the naira make it stable? When you mean stable, do you mean official rate stability where you have the parallel rate deviating at almost +70% margin?

At some point, you’ll reach the threshold of how much you can borrow so what will happen at that point?

Considering the fact that most of our crude is already loan tagged too and we need massive investment to make new oil well to flow for export.

mrvitalis:

The fact is you are limited in thinking the only way to defend the naira is your APC primitives style selling dollar at give away price

Obi is talking about more complex system of shutting demand by providing credit to make sure demand for dollar reduce and for example earning increase

It's a complex developmental economics process... Ask so that u can learn

Have a nice day

LegendHero:


😂hear yourself and ask if what you are saying make any sense.

How can you shut demand by providing credit? How much can you borrow that will satisfy the demand?

If you borrow $5bn, give it to companies in terms of of credits in a nation where we depend on imports for virtually most sectors of production. So all the recurring cost of product imports, school fees payment abroad, other technological imports, and etc will be placed on standstill and only people with access to Obi credit will be able to afford them?

The dollar he will be crediting them, how much will he be giving it to them in naira value? Or your proposition means they pay back in dollar so you can fully dollarize the economy for a selected few and give room for endless arbitrage.

Obi is a clueless being. Unfortunately, you are brilliant than him even with you parading such novice level of thinking.

Infact, Your IQ + Obi IQ = Your IQ

mrvitalis:

U can pay ₦1 from the main principles the banks dott care as long as u pay the interest
.. The longer you don't pay the principal the more interest you pay the bank... The faster you pay the principles the less payment u make

In terms of business loans tenure is not really a thing it's more of suggestion

LegendHero:

This is a big lie, you have to understand the money market.

—First, you need to understand that business loan tenure is not a suggestion, it is a contract. The banks don’t want their money tied up forever, they are not Father Christmas.

—Secondly, borrowing multinationals in Africa money is enough risk already. Economy could crash, regime change could happen, inflation could eat everything up. So the longer you stretch the loan beyond tenure, bank risk not getting their principal back.

— Banks don’t like loan that lingers forever coz even that principal, they also need it to reinvest.

No bank in the world care about interest alone with no plan of getting their principal in the realizable future. Except if it’s a fraudulent bank.

Imagine bank having $10bn, then borrowing people $9bb at once and depending only on interest at 8% APR, how will such bank be able to stand in 10 years time?

mrvitalis:

The point is you give the 5 billion to people who import to produce what we import

You reduce import increase revenue and decrease demand for dollar

How u guys can't get this is beyond reason