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I have seen that for the past 10 years, that successive government always portion blames or economic woes on the previous administration or the immediate past government.
A very good example is this current administration that has put Nigerians into untold hardship.
The previous administration had their own negative side that we all knew, especially when they started with the blame game on former president Goodluck Jonathan.
However this current administration seem to me as one of the visionless I've seen.
The removal of fuel subsidy alone was visionless for me at moment, that's removals sent a shocker to the already fragile economic system of the country. First you don't remove fuel subsidy when you don't have functioning refineries in place, because as we speak international marketers are still bringing fuel and selling at their own prices, that is why we see different price across the country, however it has been reported that the federal government still pays subsidy behind the scene to them.
That shocker immediately increased the prices of goods and services, because transportation of goods and services has increased, a trailer driver was once saying, to bring trailer load of yam from the north to south cost him not less than 2.5 million naira to buy petrol, something he was buying for 700 thousand. The increase in transportation has also snowballed into a high level of inflation that people were not ready for.
In all of these government didn't see that they don't have electricity to backup some of these policies that they are bringing onboard especially for those people that are into small scale medium enterprises, because a stable electricity will help businesses cut operational cost, however we don't have steady power supply.
The government claim that they've saved a lot of money since they started the removal of fuel subsidy. So my question is, how has that money been saved so far affected the average Nigerian has who been on the receiving end of these policies?
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Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy.
However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.
So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.
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There is these news going round about blue card sin-bins that is said to be introduced as one of the rules in football. Basically the whole idea of this blue card sin-bins is to punish players that have committed foul against another player, so when the referee shows you blue card, you are to go outside and stay for 10 minutes while the game will still be going on, you will remain there for 10 minutes then you come back afterwards and continue with the game, however this does not take the place of yellow card and the red card. Locally in my country Nigeria we used to do this for small goal post that is normally called monkey post, if a player tackles his opponent wrongly, we used to tell the prayer to go out and stay for some minutes and then come back, because it's most times a five aside game, so we don't usually use cards. but seeing these rules wanting to be introduced on the international scene surprises me. So guys how do you see this new intended innovation, is it going to change the face of football across the world, let's have your opinion. https://www.telegraph.co.uk/football/2024/02/08/blue-cards-to-be-introduced-for-football-sin-bins/ |
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The Ghanaian national team drew against mozambique, and the entire Ghanaian fans and press team where outraged by the performance of their black star's. in their minds eye they feel the Mozambique team where a weaker side for them to win and qualify for the next round, but rather they drew 2-2 and crashed out of the AFCON competition. One press man was vigorously abusing the Ghanaian coach as he was walking pass them, calling him unprintable names. As gambler and a football fan, it most appropriate for you to always show a good level of emotional intelligence whenever results doesn't go your way, because that's the spirit of sportsmanship, The results must not always go your way as a gambler, you will lose some and you will win some. https://x.com/SaddickAdams/status/1749560310959108318?s=20https://x.com/FinaNapoleon/status/1749572663058518185?s=20 |
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it has been a night of joy for bitcoiners in Nigeria as we heard the news of the central bank of Nigeria lifting the restrictions placed on cryptocurrency activities in Nigerian commercial bank some years back. Some of us have been praying and anticipating for this day to come, so that our activities can go on freely with commercial banks. Though the P2P system has really helped a lot of us here in Nigeria, but this ban been lifted will also enlarge the adoption of cryptocurrency in Nigeria and Africa at large, Nigeria is one of the emerging economies in Africa and in the world with a high population of over 200 million people, so if there is a high adoption of cryptocurrency it will really help the crypto market positively, however we are really happy for this new development as it will boost our confidence in preaching the good gospel of bitcoin to our compatriot here. https://punchng.com/breaking-cbn-lifts-ban-on-cryptocurrency/ |
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Sometimes as a rational thinker, I've tried to wrap my head around how China has been able to sustain their economy with an estimated GDP growth of 3.00 percent and per CAPITAL GDP of 18187.98 USD, Especially owing to the fact that, they have to much people heavily dependent on her economy and population of over 1.400 billion people.  I see a lot of countries with much lesser population struggling to sustain their economy at this point, with global inflation, the after effect of COVID-19 other multi-dimensional economic problems. Because I can remember vividly that China, are one of the highest hit of COVID-19 but yet they are still waxing stronger economically. The other day, Pawal7777 was talking about recession hitting CANADA, and that's how other countries are having one difficulty here and there economically. So my point is, what economical indices is china adopting to keep their economy afloat? Source: https://www.google.com/search?q=what+the+current+GDP+of+china&oq=what+the+current+GDP+of+china+&aqs=chrome..69i57j0i22i30l2j0i390i650.14687j1j4&client=ms-android-xiaomi-rev1&sourceid=chrome-mobile&ie=UTF-8 |
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My people, the Tribunal court don give 24 hours notice to all political party say dem go drop judgment for the Matter way dey their table, way Peter Obi and Atiku Abubakar carry come oh, concerning the last election results way INEC declare. Them say na on the 6th of September which is Wednesday of this week them go drop their own satisfactory JUDGEMENT. But watin come interest me be say, TRIBUNAL COURT talk say this particular judgement, say e go dey televised. Say we go watch am live for TV, but I been remember when some parties been dey file petition from the beginning of this matter, say make the court allow livestream of the proceedings of the court, Omo the court no gree for that motion oh. But how come now, them wan livestream the results but them no gree livestream the process way lead to the result. My people how Una see this matter. https://www.google.com/amp/s/www.channelstv.com/2023/09/04/just-in-presidential-tribunal-to-deliver-judgement-september-6/amp/ |
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In building a struggling economy at a time of global economic crisis caused by Covid, global inflation etc, some experts have argued that it's sometimes necessary to devalue a country's currency in a bid to keep the country's economy afloat, hoping that this measure would strengthen the currency and subsequently improve their economy. Third world countries are always caught up in this ugly situation.
Today, local currencies of Ghana and Zimbabwe, to mention a few, are stock in a familiar terrain of currency devaluation that had adversely shut down some SMEs and impoverished their citizens. Because I believe, in improving an economy of a country, the country must improve on its production base, her export on goods produce locally should improve as well, the ease of doing business within the country play a key factor too, foreign and direct investment plays an important role on the economy of a country.
So my question is, how does these particular act of devaluing a country's currency helps in building an economy?
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What is a spot bitcoin ETF?
Is it an aspect of bitcoin, a part of bitcoin (like coexisting with bitcoin ) or it's entirely something different from bitcoin just like bitcoin-Cash?
Please house I need a clear explanation, am lost even with the little information I have read about it online it's just not very clear to grasp.
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Before now, I've seen some forum members argue that bitcoin is not meant for everyone.
However in their own right, they have some point, but on the other hand, let's look at it from this angle.
For some of us that are from developing countries, is not easy to convince someone about bitcoin or educating somebody about it at first instance and you expect them to accept it wholeheartedly.
They need lots of education and convincing because they do not have an idea of what your saying or what bitcoin looks likes especially for those of them above middle age, because the semantics of bitcoin is a bit different and the approach towards accepting new idea's that is different from the conventional ways they know of, always comes with some level of resistance.
To a large extent you can even argue that some of our leaders in government don't have an idea of what this innovation is all about hence the few restrictions here and there.
So for me, no amount of educating people about bitcoin is enough, if an individual has the energy to go round his community to talk to people about bitcoin, I think is a welcome development, as long as his giving them the right knowledge on bitcoin education.
In telling people about bitcoin, even if they don't seem to accept it at first, you will see a good number coming to pick interest much later. Just because a person didn't accept your idea presented to him immediately doesn't perfectly mean he has totally rejected for at some point in life he might find reasons to give the idea a try even without you knowing about it. Let's keep the ball rolling bitcoin is here to stay.
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There are lots of things as citizens that we've enjoyed especially when it comes to essential things that government of our various countries have subsidize.
For some countries, government has helped in subsidizing food production, electricity, education, transportation, health care services etc.
This subsidy goes ahead in reducing financial burden on the citizens.
for some it is one way the government has helped them directly, because government gives them grants to support their businesses.
So I ask, what will happen if the government remove subsidy from some of the essential things that they helped citizens to subsidize, for example, fuel, electricity, food production, health care services etc.
Because I leave in a country, where the subsidy for PMS(petrol) has been removed, and almost immediately, the citizens are feeling the effect of the petrol subsidy removal.
The shocker this singler act has sent to the spine of the economy of my country is second to none.
At this point, I've realised that, subsidy is one gloomy light that shouldn't be dimmed further by any government.
Cause what other better ways can the citizens benefit from her government if subsidy is taken off from those essentials that directly touch the standard of living of the citizens.
What do you think? Is government removal of subsidy from essentials products, services at this period of economic hardship people are facing the best policy a government can embark on in the process of building her dwindling economy?
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Inflation is really biting hard, and nobody is doing anything about it, should we all just go with what Tupac said, "that's just the way it is, things will never be the same".
A lot of person's have ascribed this global inflation to the crisis Rocking Ukraine and Russia, a lot of person's have also said it's as a result of shortage of gas supply across Europe and other countries.
The whole story is not just clear, as to why inflation is biting so hard and IMF AND WORLD BANK are not doing anything about it and the people are just left to face their fate alone.
The prices of goods and services are constantly going astronomical high and there is no hope insight of this ugly situation coming to a halt.
The purchasing powers of citizens are getting weak and I don't understand if the consumer protection laws are even effective anymore this days.
You buy something for a certain amount today, in the next one week, that same item you bought has charged Prince without any reason.
How are you guys pulling it through with this inflation?
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The President Joe Biden's administration has forgiven students that have outstanding students loans they haven't paid. This forgiveness runs into about $39 billion in student loan debt to more than 800,000 borrowers. This gesture which I describe as one the best gestures this administration has done. This are some of the government policies I sometimes applaud because it has a direct effect on cushioning of debt burden on the students, which some of them have been struggling to pay off. To a large extent, it shows the administration has humane Face. This will really go a long way in relieving some of the students past and present that are indebted. What do you guys think about this news from the department of Education and what effect can this have on the US economy. https://www.foxbusiness.com/economy/biden-administration-forgives-39-billion-student-loan-debt-more-than-800000-borrowers?intcmp=tw_fnc |
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We've heard from the news, the plans federal government has towards the poor, they say is to cushion the effect of fuel subsidy, which is giving the poor 8k per month for the next six months to 12 million people. Now here is the interesting part of the whole thing. 1, how do you identify the poor in Nigeria, because half of the Nigerian population are not working, so they can be seen to be poor too, so what measures will the FG deploy for the selection of the poor? Because in the Buhari's administration, we had a social intervention program introduced too, and the FG said, they selected the poorest of the poor for the program, and billions of naira was doled out for that program and lots of people never saw a dime from it. 2, to what extent will 8 thousand naira go in cushioning the effect? To what extent will 8 thousand go in cushioning the effect of the fuel subsidy, because the prices of goods and services has gone astronomically high, ranging from electricity bill, transportation, food items etc... 3. the last administration had this idea. The previous administration had a conditional cash transfer, that we couldn't find a single person that benefited from that program, now to what extent did the program go, they said they gave physical cash to millions of people. I think the FG should come up with real robust plan to really cushion the effect of the fuel subsidy, like providing busses 🚌🚌🚌 at strategic locations within the country, that people can pay a subsidised transport fee, constant electricity at an affordable rate across the country and fighting food inflation etc https://www.channelstv.com/2023/07/13/fg-to-transfer-n8000-to-12-million-poor-households-for-six-months/ |
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In the passing days there has been disruption of lives, movements and also with destruction of public properties across major cities in France. This happening has hampered negatively on the economy of the country forcing the French president to abort one of his supposed diplomatic trip in light of the ill-fated situation. The story line talks about, a 17 years old teenage boy that was killed by the police. This singular act has given birth to series of protest and riots that has affected, and created unrest in major cities of the country leading to the arrest of more than 700+ protesters. A lot of people have complained about the activities of police across the world, Because the George Floyd issue, the Arab Spring and a lots of activities of the police that has lead to protest that has resulted to unending riots, carnage and destruction that is caused by the excesses of the police across the world. All the major cities in France is currently shutdown, economic activities are seriously under threat as shops owners are losing their goods unabatedly, as the security force are overwhelmed with the situation. I think is high time the Government of the world looks into the activities of police before they cause a volcanic eruption that will consume us all. https://www.bbc.com/news/live/world-europe-66073728 |
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I've been around the forum for months now and lately i have been developing serious thoughts about venturing into crypto trading
particularly bitcoin, I've gotten some little knowledge about forex trading, because there are lots of trading indicators in forex that helps you in predicting the market flow.
However according to some bitcoin trading expert's on YouTube, they will tell you they've gotten their fingers burnt a lot of times.
So i ask, is bitcoin trading advisable for the lily-livered?
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My people, nothing we no go see for we country oh. Everyday na new episode of drama, CBN don Yan say, as part of their new due diligence regulations to financial institutions in 2023 under it regulatory purview, as against anti-money laundering, counter terrorism financing etc. Say them dey direct all Banks to include customer's social media handle as part of the customers KYC( KNOW YOUR CUSTOMER) requirements. The stress 😬 way Banks dey give customers don dey too much, any small thing we you wan regularise for your Bank, them go tell you to bring, NEPA BILL, DRIVING LICENCE, NIN , HOUSE RENT RECEIPT, BVN,TWO PASSPORT SIGN TWO TIMES, now they've added social media handle to the endless list. When ordinarily a single NIN can easily identify a customer. That's why i also enlighten people about bitcoin and crypto currency, BABA, all this bulaba and balablue is never needed, i just need your wallet ID to make any transactions with you. Anybody that wants to fight terrorism can do that easily, because government has all it takes to a locate criminals anywhere in world, besides most of the acclaimed terrorist are not on social media. My people how Una see this leg way CBN dey bring come? https://twitter.com/instablog9ja/status/1672373663239139328?t=gXpOS5LmTp8Q7qzB210m-A&s=19 |
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In our today's society, a lot of person's come out every day to complain about the kind of democracy we are practicing as a people. because a lot of person's have argued that, we are operating a civilian rule kind of government, not Democracy in its entirety because the tenets of democracy is not followed to the latter. In an idea sense of Democracy, justice and fairness reign supreme. In a the valedictory session held by the 9th senate, senator Adamu Bulkachuwa while making his speech, he made some shocking revelations about his role as to ensuring his wife zaniab Bulkachuwa, the former President of the federal court of appeal in Nigeria which he encroached as a husband to help some of his senator Colleagues. In his words " I want to thank Particularly, my wife whose freedom and independence I encroached upon while she was in office. And she had been very tolerant and accepted my encroachment and extended her help to my Colleagues" The senate President interjected almost immediately because it was a live session, distinguish, i don't think it's a good idea going in this direction, it's not a good idea lawan Said and he immediately off the mic of Bulkachuwa. Today we've gotten a new slogan " if you don't like it go to court" this are some of the elements that has brought about such emboldened statements. https://www.youtube.com/watch?v=rbT9bfEIFn8 |
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I was going through the events of the KING 👑 OF ENGLAND CORONATION AND THE ENGLISH RITUALS THAT COMES WITH IT, then I noticed a group of people protesting against the age long practice of the English monarchy system. Ordinarily is something that I would have just taken note of and move on without giving it a second thought, but something kept ringing in my head about the fact that, this protest is really uncalled-for. Our today's society, give much credence to civilization, wokeness and liberalism, which have made a lot of people to look down on aged long traditional and cultural values we've inherited from our forebears. I remember the story of the Ethiopian monarch his imperial majesty Haile Selassie👑 the King of kings (as referred to by some), the head of state, the head of the government with all the legislative and executive powers all in his hand, Haile Selassie was literally worshipped. But today if you go to Ethiopia, that system is no longer in practice, because that system has been abolished and laws have been made to suit the current social formation. Though British government today, runs a constitutional monarchy and parliamentary system of government, which allows citizens to vote for whoever that will represent them at the parliament. So far. The citizens have enjoyed the benefits of a first class world country, so to say, and they are among the best country in the world a lot of people wish to visit or migrate to, all this was made possible as result of this age long monarchical system that has rich ancestral heritage working side by side with the parliamentary system. https://amp.cnn.com/cnn/2023/05/06/uk/king-charles-anti-monarchy-protest-arrests-ckc-gbr-intl/index.html |
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