ahiboilandgas:
...i mean i will be dead gone by 2060

You will be in ur 90s na

ojesymsym:
Poorest? Are you judging with the recent poor run of events after TB went down?
Anyway, I do not have an account anywhere else so I cannot compare directly but I did do a lot of research on the mutual funds thread and I know the FBN Quest guys were always complaining of one thing or the other.

FBN quest - bad customer service, inferior technology, and many others.

ojesymsym:
Thank God you have listed rice. What happened when government asked importers to pay import duties only through the ports for rice in an attempt to boost production? What was the outcry?

That directive and a subsequent stopping of border passage? Did it increase rice production? If yes, why not selectively try to boost local production in the things we have some advantage like cement production, food and processing than a blanket devaluation that will affect everything including drugs, electronics, mobile phones etc.
Is it devaluation that will our Nigerian Engineers to suddenly remember how to start making cars.
If you devalue, a Toyota Camry of 1.6M will shoot up to 5-6M? If you are the president, or CBN governor will that be something you will accept?

My belief is that we keep indentifying the things we know we should be able to produce or can increase our capacity to produce before we take the full plunge

China with over a trillion dollars reserves devalues from a position of strength to encourage local production and exportation.
Import duty is not the solution in a country with corrupt border personnel. Go to Seme and Idiroko, rice has started entering Nigeria again.
This will not happen if there is devaluation.
If Camry becomes 6M(even 20M), people will forced to start buying Innosson. Innosson will expand production, create more jobs and start exporting to neighboring countries because he will earn forex.

If we don't devalue now, we will later devalue forcefully at a position of weakness like Venezuela and Zimbabwe.

ositadima1:




You will be in ur 90s na

u think people of this generation live that long ...if we reach 65 years let thank God ...must member of my family die within 63-78 ...

Olaide1295:

China with over a trillion dollars reserves devalues from a position of strength to encourage local production and exportation.
Import duty is not the solution in a country with corrupt border personnel. Go to Seme and Idiroko, rice has started entering Nigeria again.
This will not happen if there is devaluation.
If Camry becomes 6M(even 20M), people will forced to start buying Innosson. Innosson will expand production, create more jobs and start exporting to neighboring countries because he will earn forex.

If we don't devalue now, we will later devalue forcefully at a position of weakness like Venezuela and Zimbabwe.

what happen to millions of tokunbo cars used by Americans...we driving old cheaper models example in 2040 we will be buying used camry 2010 for 7m

ojesymsym:
For me, as long as IMF is the one advocating for devaluation I will view it with suspicion. Devaluation is another name for SAP used by IBB during his time, complete failure.

SAP was actually misunderstood by the general populace.
I am of the opinion that if SAP was properly done then, Nigeria by now should have been a better country.
Most of what the people were against are what we are doing now.
Imaging if we had privatised Nitel, NEPA ,airports, refineries etc in the late 80s and streamline our ineffective civil service.

ahiboilandgas:
u think people of this generation live that long ...if we reach 65 years let thank God ...must member of my family die within 63-78 ...

With improving medical services and good self care 90 is not unattainable.

The parts Innosson wan use for his car, where he wan see am non be still import?
China now has over a trillion, they did not have it when they started.

Olaide1295:

China with over a trillion dollars reserves devalues from a position of strength to encourage local production and exportation.
Import duty is not the solution in a country with corrupt border personnel. Go to Seme and Idiroko, rice has started entering Nigeria again.
This will not happen if there is devaluation.
If Camry becomes 6M(even 20M), people will forced to start buying Innosson. Innosson will expand production, create more jobs and start exporting to neighboring countries because he will earn forex.

If we don't devalue now, we will later devalue forcefully at a position of weakness like Venezuela and Zimbabwe.

ositadima1:


With improving medical services and good self care 90 is not unattainable.

it is by few....look round how many above 65 do u meet on the road....take u time

How come no country where IMF advocated for its use was able to make it a success. Many of these policies are trojan horses. Good on paper but bad in practice.

pluto09:



SAP was actually misunderstood by the general populace.
I am of the opinion that if SAP was properly done then, Nigeria by now should have been a better country.
Most of what the people were against are what we are doing now.
Imaging if we had privatised Nitel, NEPA ,airports, refineries etc in the late 80s and streamline our ineffective civil service.

Olaide1295:

China with over a trillion dollars reserves devalues from a position of strength to encourage local production and exportation.
Import duty is not the solution in a country with corrupt border personnel. Go to Seme and Idiroko, rice has started entering Nigeria again.
This will not happen if there is devaluation.
If Camry becomes 6M(even 20M), [b]people will forced to start buying Innosson. [/b]Innosson will expand production, create more jobs and start exporting to neighboring countries because he will earn forex.

If we don't devalue now, we will later devalue forcefully at a position of weakness like Venezuela and Zimbabwe.

Lol, do you know that if a brand new Innosson car was affordable most people will rather buy it than tokunbo. By the way, 90% of the parts of the Innosson vehicle are imported, meaning ...

Exactly, the parts will still be imported.
We all support industrialization. But I personally do not think it is the first step especially all the things we export are raw materials. Even our main income is Crude oil not even its refined products.
Devaluation will hurt us now perhaps in future when our balance of trade improves, we may devalue fully.

ositadima1:


Lol, do you know that if a brand new Innosson car was affordable most people will rather buy it than tokunbo. By the way, 90% of the parts of the Innosson vehicle is imported, meaning ...

ojesymsym:
How come no country where IMF advocated for its use was able to make it a success. Many of these policies are trojan horses. Good on paper but bad in practice.

Ignore the IMF,Let look at what SAP was all about, living within our means.
What are those things that you think are not good in SAP?

Donbrig:
I think our govt should have some agents assigned to this thread to learn how to shape our economy up and put Nigeria on the right track. It seems those that have the ideas are not in power and those in power don't have any idea on how to lead a nation.

There're many knowledgeable people with fascinating ideas holding strategic positions of our economy. Nigeria is not short of knowledge, the issue is they're either handicapped or they're dirty themselves.
The rot of our dear country is so deep, cabals are everywhere in all positions that have direct influence over the welfare of Nigerian's.

ahiboilandgas:
imagine a wacked entity with 10m out of school kids , low life expectancy and high gradute unemployements....budgeting 25 bn naira to renovate a rubber stamp and corrupt ridden God forsaken National assemble ....the unintelligent presido voted in by morons is having 11 aircrafts in the presidential fleets ...

E no consyn dem

That is the problem. They do not care. As long as there is some money to loot, the entire country can go to blazes.

No planning, no strategic thinking, no coordination. Just asset stripping. Every 4 or 8 years, another gang of Aladdin and 40 Thieves will take the field and run riot at all levels of governance.

All this talk of devaluation, lack of fund, diversification, population growth, and more flies over their heads while they feign attention. It's surreal.

A person will fly with Emirates to UAE to buy a house with looted funds, then return to Nigeria and use billions to launch a National Airline logo; and you think that person is normal!

-Lord

I may not remember the details but living within our means does not look like the main thing that SAP was focused on. Like I said, they always sound good on paper but never work in reality.

pluto09:



Ignore the IMF,Let look at what SAP was all about, living within our means.
What are those things that you think are not good in SAP?

This is one thing many people do not know.

Ikjosh04:


There're many knowledgeable people with fascinating ideas holding strategic positions of our economy. Nigeria is not short of knowledge, the issue is they're either handicapped or they're dirty themselves.
The rot of our dear country is so deep, cabals are everywhere in all positions that have direct influence over the welfare of Nigerian's.

GonFreecss1:


FBN quest - bad customer service, inferior technology, and many others.

Plain truth.
I experienced all these. A corporate organisation who ignore calls, email and request to login into your account. I am gradually moving out my fund to others.

Nigeria has one of the most unproductive populations on earth. I still cannot understand why some states have over 6 universities, prouducing half baked graduates or semi-literates into our labour markets. University degrees are overrated in Nigeria. It is time for every state in Nigeria to have state-of-the-art vocational institutions. Even if we devalue naira to help local industries, we still don't have a viable and knowledgeable populace to pull the trigger for industrialization.

Donbrig:
Nigeria has one of the most unproductive populations on earth. I still cannot understand why some states have over 6 universities, prouducing half baked graduates or semi-literates into our labour markets. University degrees are overrated in Nigeria. It is time for every state in Nigeria to have state-of-the-art vocational institutions. Even if we devalue naira to help local industries, we still don't have a viable and knowledgeable populace to pull the trigger for industrialization.

it an ego society

emmasoft:
THE 4D’s YOU NEED TO ENABLE YOU INVEST

Investment don't depend or start with the quantity of fund or income available rather it starts with this 4 D’s:

1. Desire. Having strong desire to have legitimate wealth and sources of passive income will normally starts the journey of investment not amount you earn.

2. Decision. A strong desire is not enough. One must make a clear-cut decision to invest. Whatever decision you make will direct what you give priority to when it comes to spending or saving. There is always opportunity cost of every decision or choice you make.

3. Due diligence. This itself is a form of investment. You must invest your time to know and take calculated risk. You take time out to look at options available and the viability, authentication of claims etc of any opportunity presented to you.

4.Determination. The popular saying:” Where there is a will there is a way” comes to play. You've got the first three D's, that is not enough you must determine to act. At this stage you must close your ears and eyes to distractions no matter where and who the distraction is coming from. N.B: some of these distractions can be your own gratification. You must be determined to delay it if you must invest.

With the desire, decisions, due diligence and determination I can assure you no matter the quantity or amount of cash available to you or your income presently, it will be very easy to invest. You will not have any excuse or see any impossibility or inconveniences to stop you from investing.
One thing with investment is that, once you start you always have reason to continue, on the other hand if you don't start investing you will always have reason not to start.
So, folks don't let your income status stop you from investing and creating wealth. Please invest all the same and stop looking at your income.

Example: If one saves N100 every day from January 1st of a year, it amounts to N36, 500 at the end of December and if repeated, at the end of the second year, it becomes N73,000. If the money is invested let’s say in VGIF for 10 years without top up to the principal, you will have
Principal: 73,000
Total Interest: 94,857.47
Investment Balance: 167,857.47

Just imagine ordinary N100 which is insignificant, less than what you give as a tip to salesgirl, no material effect or strain on your finances and yet see what it gives after some years. Now let’s double it or triple it or at most let it be N500 savings daily. You do the calculation yourself. You will be amazed.
There is no excuse for anyone not investing it’s a matter of choice!!

Check my signature for contact and details.

Your advice is always on point. I remember last year November when I painstakingly followed your advice on the mutual funds thread and ended up investing in it. A decision I've never regretted. You led me by hand and patiently answered all the questions and objections I had on mutual funds even without ever meeting you. Oga emmasoft God bless you ooo

Donbrig:
I think our govt should have some agents assigned to this thread to learn how to shape our economy up and put Nigeria on the right track. It seems those that have the ideas are not in power and those in power don't have any idea on how to lead a nation.

This is the after effect of nepotism

Donbrig:
Nigeria has one of the most unproductive populations on earth. I still cannot understand why some states have over 6 universities, prouducing half baked graduates or semi-literates into our labour markets. University degrees are overrated in Nigeria. It is time for every state in Nigeria to have state-of-the-art vocational institutions. Even if we devalue naira to help local industries, we still don't have a viable and knowledgeable populace to pull the trigger for industrialization.

U r soo wrong .....

Nigeria is the outcome of putting square pegs in round holes. Tribalism and ethnicity is the norm instead of professionalism.

How can a population be productive when connection is the order of the day. If u like be Einstein or Aristotle, if u don't have connections in naija ur work is rubbish.

So it's not the population , it's our leadership that has propagated a retrogressive system.

ojesymsym:
This is beginning to sound scaring. Any hope for common man so? I am glad we want to test the no subsidy thing so that everyone can rest, but knowing the greed of Nigerians, I am not very optimistic and your expose here again makes me even more worried considering how power this cartel is.

More filling stations will soon start To burst in flames due to several reason. Those staying close to filling stations that might want to start selling at cheaper rates should be careful. Cartels dont sleep

Franky826:


Your advice is always on point. I remember last year November when I painstakingly followed your advice on the mutual funds thread and ended up investing in it. A decision I've never regretted. You led me by hand and patiently answered all the questions and objections I had on mutual funds even without ever meeting you. Oga emmasoft God bless you ooo

Amen. God bless you too @Franky826. Thanks for the kind words.

You are generous dollar hitting N800 in 10 years. My guess is dollar hitting N880 in five years from now.


A lot of people are saying dangote refinery this n that, dangote is a business man, he is not the Messiah.

The population is exploding, 210 million people now who depends solely on import for nearly everything. As soon as Bubu finish his looting, the next looter will continue to rape us all like they have been doing.

hustla:
We complained and groaned when $ became 216, now its about 440 .. In 10 Years, it will likely be 700 / 800 .. and life will continue, people will adjust and the suffering will continue

No be curse

TotoNaRubber:
You are generous dollar hitting N800 in 10 years. My guess is dollar hitting N880 in five years from now.


A lot of people are saying dangote refinery this n that, dangote is a business man, he is not the Messiah.

The population is exploding, 210 million people now who depends solely on import for nearly everything. As soon as Bubu finish his looting, the next looter will continue to rape us all like they have been doing.

Maybe when it gets to $1 /1000 NGN, people will actually start to think ..cos the way it's going ehnn

Donbrig:
Nigeria has one of the most unproductive populations on earth. I still cannot understand why some states have over 6 universities, prouducing half baked graduates or semi-literates into our labour markets. University degrees are overrated in Nigeria. It is time for every state in Nigeria to have state-of-the-art vocational institutions. Even if we devalue naira to help local industries, we still don't have a viable and knowledgeable populace to pull the trigger for industrialization.

This is just the truth. Nigerian Education is mostly useless. People only care about paper certificates and not knowledge, sometimes when you discuss with the average Nigerian graduate, you can’t but just be surprised. No difference between the average “educated” Nigerian and the uneducated ones.
People comparing China and Nigeria forget China has a very productive population, that was why many countries outsourced labor to them which led to the economic explosion there.

What we have here is an unproductive, consuming population growing rapidly by the second! The leaders are not the only problem of Nigeria

Devaluing of the naira is inevitable at this point, it can only be delayed. If this administration successfully evades it, another administration will still do it.
In 2012 the entire Nigeria protested against subsidy removal, today whether or not the subsidy has been truly removed, fuel prices has almost doubled from 2012 price. Nigeria leaders keep creating more problems for the country, we have now moved from oil subsidy to dollar subsidy!

chigo4u:

This is just the truth. Nigerian Education is mostly useless. People only care about paper certificates and not knowledge, sometimes when you discuss with the average Nigerian graduate, you can’t but just be surprised. No difference between the average “educated” Nigerian and the uneducated ones.
People comparing China and Nigeria forget China has a very productive population, that was why many countries outsourced labor to them which led to the economic explosion there.

What we have here is an unproductive, consuming population growing rapidly by the second! The leaders are not the only problem of Nigeria

I disagree with you. There's no nation of the world that Nigerians are not doing great. Our major problem is bad leaders or leaders without vision.

I strongly believed, one day we will get it right.

mickky22:



I disagree with you. There's no nation of the world that Nigerians are not doing great. Our major problem is bad leaders or leaders without vision.

I strongly believed, one day we will get it right.

We have just one problem,
Artificial naira.
#devaluenairanow!