Topic: A country with serious economic crisis. (Read 372 times)

Nigeria just like other Opec members are facing heavy economy crisis as a result of oil price fall in the international market,  but the different is that other countries have leaders that are doing everything to make life easy for their citizens,  good economy policy to tackle the challenges, but Nigeria corruption has eaten dip in our leaders blood. They give no much attention to citizens,  they are only interested in what they will gain , the prosperity of the nation don't matter to them, they make life so difficult for the citizens,  until you enter market to get food stuff you won't know how people are suffering in this Nigeria,  the subsidy removal has no make any sense to the people,  the funds are been shared among the elite. Fuel price and food security are on high demand.
It's so bad to know that Africa as full of bad leaders,  a country like Nigeria is not producing any product apart from oil.

this Sufferings way we dey pass through no be today e start ohh, the worst part be say any president way enter that seat most do him own. But concerning about the food aspect and the fuel subsidy this thing na balancing something for the leaders to know about, them commot the fuel subsidy so that we fit gain our own income then why not use the money way them suppose pay for the subsidy just use am focus more about the food side. But right now the money we no dey even know where the money dey enter right now, for me I dey always dey talk am say those people way we call our leaders them only they lead their own families not the citizens at all. See Ukraine way we suppose help first at the moment na them won come dey help us, but wait ohh with all this waiting the leaders expect other countries too look us as. Just reason am.

We just Dey shout up and down because of our politicians matter and how them they treat us, how many times we go shout? We don shout tired to the extent that we no fit shout again, if to say solution Dey we for don find am for the matter many years ago, for us to be talking about the government wey don corrupt it will better we should use that energy to work and survive with our family, Nigeria na better country that has everything that a country needs but we are the one that is still suffering, many countries are praying to have the kind of lands and natural resources we have today but we that have it we are still doing shakara and be cheating each other with it in the name of I’m a the leader of the country.

I fit talk much but even if u talk much e go be like say we Dey spoil our country, we love our country and it will remain our country but na corruption Dey make our country be like country wey no get human being inside, the only thing wey we fit do na prayer and the prayer go be the prayer for our leaders make their eyes open allow us to breathe in this country and make we also pray make god destroy some of them wey be evil wey no wan allow the good ones to do good things.

I think you are right to an extent cause of a truth the Nigeria judiciaries and some other persons are to be blame but I believed strongly that even if you are the one in their position and you are been paid handsomely to lie concerning the election you will do it without a second thought, I am saying this because I have seen people who have been saying what they will do for a particular set of people if they should enter a particular position but when they entered, they became blind with what they saw there and forget if other people exist that is selfishness. Most people are just concerned about their own family and theirself without thinking of others. What are saying is, we should try to be the change we are looking for, not after blaming someone when you entered, you continuing what those people has been doing there. Those our leaders now has promised people but look at what they are doing now. The problem with Nigerian leaders now is selfishness.

Well in the context of your topic you have already said it all, our leaders are blinded by what I don't know and they keep on making wring decisions upon wrong decisions and i begin to feel their are confused cause the problem is clear and we know we have the resources and man power to solve them but then why not do it, is they are plot to keep people hungry and poor and unemployed, to me yes, crypto since it's birth has been a new light to the Nigerian ls and our government is now working so hard to lay blames and accusations on them to what end, if not to increase the suffering and block the path to our freedom, well its now clear more than ever that we are on our own in this country and must and will fend for ourselves.

If we are to blame anybody concerning the hardship and economic crisis the country is facing then the Nigeria judiciaries are the ones to be blame for there incompetence in the last concluded election, though the economic crisis we are facing now didn't start today but this time it is worst, the price of everything is high a custard of garri is now going to 5k you can't buy any better thing in the Market now unless you go with a huge amount of money.
Nigerians are strong people sometimes I wonder how we are surviving this present economic crisis.

Hmmm, this is very very sad for a country that is facing some economic and financial crisis due to the effect of the war between them and Russia are even the ones bringing grains for a country that is not under pressure as compared to Ukraine. This is very shameful honestly, what baffles me most is that Nigeria is a country that has gotten some kind of recognition from the outside countries due to our participations in world programs and other global related activities so whenever a news about Nigeria is being aired, a lot of countries begin to mock us.

Okay, just look at the conspiracy between other countries and Nigeria in the just concluded AFCON competition, That's enough to ring a bell that we need to focus on our country now or never because this is the time to make things right if not am afraid of the kind of environment we are creating for our children and younger ones in the future.

every government comes with its challenges look at the past administration and the way people were battling with the issue of insecurity and others but look at today we are battling with almost everything starting from increase not employment look at the way the price of gas was going up and also the dollar rate it was almost crashing the economy and this factors have affected the price of the commodity because if you look at the GDP every part of it is affected to the extent that even if you want to rent a house now it is as expensive as you can imagine. and our government lack the spirit of continuity when the other person is no longer on the seat then the project becomes invalid.

back to the issue of prices going up nothing goes up and comes down in this country, and the problem I have with Nigerians is that we always learn to adopt instead of say and that is when you see analysts on air saying their nonsense because something that is not implemented is not worth saying. the same way they scattered the economy they should find a way of fixing it back, our leaders are just too selfish

If to say e go dey possible na watin Ghanaians been do their politicians we Nigerians supposed do our politician just find way organize all them for one place and set the place ablaze so that the country fit regain freedom again and be happy for good.
Our president lack a good adviser e for try make sure say our refineries dey work normal before e for remove fuel subsidy, because na immediately e remove fuel subsidy na e price of everything go dey increase most of the things we use in this country is been transported from one  place to another and Petro price is high which has resulted to increment of other things in the country too.
I believe we have a better leaders today Nigeria will be among the best country in the world for God has bless us with enough mineral resources that can help reduce the economic crisis for naija.

I observed one thing very well in this country, anything that goes up in every government and it will be difficult for the thing to come down as usual again which are part of something that is affecting our country economy today because, every government that come into power fight for their family interest.

If not that our leaders has scarter the country economy long ago, we have enough food items to feed Ukraine and other countries without them experience hardship in their land but Ukraine that is experiencing war in their land, they are now the one donating food items to support our country.

I have never believed in fuel subsidies, there's nothing like that, the acclaimed subsidies are just fraudulent openings that politicians created to embezzle money out of nothing. As those funds were retrenched by the Fed, they increased taxes on petroleum, leading to the surge in prices of petroleum products and transportation.

If this one is annoying you, then you're new to Nigeria. Ask the Abacha's loot that has been returned to the country from time immemorial, all we hear is that it was returned, but the impact on the economy is never felt until its forgotten.  I wish there's a way to share the funds to everybody generally without it going to the government first, because any funds or empowerment that gets to them is as good as lost.
 
They're wasting their time, busy chasing shadows as usual. I wish them wisdom because their actions shows serious lack of it. Binance operations were not shut, only Naira trades on it was. We still use Binance till date, but with other currencies. They can go ahead and eat their Naira. After all, they're losing their stake in Binance ventures.

It is high time we move on with other Wallet exchange and stop complaining about this banned of Binance in our country my dear crypto traders and investors. There is no two ways about it and there is nothing we can do about it since the action has been taken upon.

There are existing more convenient with more better features of other wallet exchange comparing to the delisted Binance exchange.
Hence we have OKX, ByBit, Luno, Kraken and Kucoin wallets exchanges.

I understand how so many of us has been used and it's being like we are addicted to using the Binance exchange but yet we can still have better services with these and lot more of Exchanges better than Binance.

Lets not be submissive and gets weighed down by this inconsiderable actions our government took over these exchanges as long as there are lot of ways to fill the gaps.

we have a very heavy heart towards the outcome we are getting from all these economic issues and I don't think OP is the only one who is pained we are all pained as a result of what we are facing. everyone wants to take every challenge as an opportunity. and that is why we are not moving forward just within this dollar and naira saga a lot of marketers are already wanting to take advantage of the market. and there is no way you go to the market and you won't get pissed because everything has increased and the way it is now we are always waking up with different problem every day in this country. and they thought crypto was their problem and they were busy fighting Binance over nothing feeling they were responsible for the economic breakdown but no lets us just hope we get it right someday,

Even wen we know say our country dey suffer from a serious economy crisis yet we no dey do anything to help, this one no be only government matter o, we too we supposed they help matter too, Just imagine as things dey cost, especially food stuffs even garri wey we dey carry dey hold our side dey cause wetin no nice and to get work self na war, even wen person get, them no go dey pay person better money wey go fit take care of person, yes we know say the country no be am again but at least those people wey dey sell things make they try know say we dey buy dey suffer to get money but they go just high price of things like say tomorrow no day and na still them go dey follow us dey complain. The way the country dey do us, na e make people don dey theft, dey kidnap in order make dey see food chop, and some people wey no get strength to struggle in order to survive dey die all because of this economy crisis.

Our politicians are bunches of failures whom has lost to deliver their primary task in occupying those leadership positions which the masses welfares was ought to be their priority but they fails to recognize that fact. Instead of enhancing to a more quality conveniences, they're are still the ones distabilizing the sceneros making it unbearable for the masses and they're just so less concerned towards them.
I'm not surprised that our government has been diverting what belongs to the masses to their own selves where only then and their families are the beneficials. It has become something inheritance and a right to them.

Indeed this a perilous time in Nigeria, the country has had 2 recessions within the space of 8 years thats to shows that the GDP per capita has decreased. Human capital development is nothing to write about.

The high dependence on the oil sector has put other vital sectors like agriculture and manufacturing in a state of confusion after excessive money was spent to retrieve such sectors. We talk of diversifying the economy but haven't maximized the functional sectors.

Now, there are reports to merge sectors to stop the excessive cost of governance which might be a political statement. Scholars have stated that financial and social inclusion will help combat the battle against inflation but the result hasn't been the case. The looming food shortage is pathetic and might lead to a more staggering issue.

This our so called leaders doesn't want something good for us as youth. They are just so selfish, they want only them and their children to be rich, leaving majority of we youth as poor fellows. Imagine, what they did to part of our source of living. Alot of our youth depends on Binance P2P for their living. But now that it has been banned, what will be their fate? Instead of them to face corruption, insecurities, unemployment, inadequate infrastructural that is affecting the economy of the country, they are there using their power to takle crypto hodlers.

Sadly, it still surprises me that we continue to depend on imports to feed. What exactly do we lack in this country, that we can't provide for ourselves? I get that it's of course cheaper to import goods already manufactured than manufacture ourselves... But is the short Road the nice road? Look what it's doing to us now. We need serious entrepreneurial training and entrepreneur competition. We are eligible to provide for ourselves and even export to other countries ... But we go dey chop Garri weh be free something for 1k.

Nawa oo

The government has gone crazy neither it could do anything good for Nigeria and when the hard working Nigerians are earning decently through crypto but the government don't even want to allow that, what a sadistic government and that's why we need educated and humble rulers as they should either fix the economic crisis which has been looming over Nigeria despite all the resources or else not intervene in crypto domain. I think they should focus on building the nation rather than stupidity of banning or scrutinizing the crypto exchanges.

Aside from the prices of food items which is getting high by the day, I believe many farmers have had to abandon their farmlands because of herdsmen attack or kidnappers or bandits. The security concerns is still one big aspect that's making many of those who worked with assistance from government agricultural intervention programs, to abandon or sell the equipments so they don't fall victims one-day.
Another is that many of these equipment you mentioned incur huge financial cost to maintain of which one can't always run back to the government to fix, instead they see the intervention programs as a burden and just sell off the tools and equipment or abandon its use.

There's absolutely nothing disheartening here in my opinion. Look, the earlier we stop politicizing every movement, the better for us. It's good to shy away from discussions like this if you don't have knowledge of international relation. If you read through the link, you'll discover that the speaker is/was a politician like every other persons who talk about this gesture to discredit the present administration.

This is not the first time Ukraine or any other country is donating food or other forms of aids to Nigeria. It's important you should know that Nigeria did not request for this aid but it was just an humanitarian gesture from Ukraine in order to strengthen their relationship with Nigeria. There is no country in this world that is absolutely independent, each country faces one or other challenges. Nigeria is facing challenges too but still also donating to countries that need help in one way or another especially in Africa. I actually see no big deal here because rejecting the donation would have negative impact on the relationship between this two countries.

For clarity, Nigeria is not having food shortage. There is actually enough food in the country just that the prices are way too high due to some factors both internally and externally. What we currently need is stability of prices which I believe will give us some relief if eventually achieved.

Talking about fertile land, it's actually truth we are blessed with fertile lands especially in the northern part of the country but the truth is how many of us are ready to engage in farming? When everyone is forming and sees farming as a poor man occupation. Government is doing her best to support agriculture but we the citizens are part of the problems too. I have seen where people benefit from government agricultural intervention but end up selling the equipments and materials. Where's the government fault here?

If the way we complain about this country is the same way we are making efforts to make it better, we would have gone far honestly.

I hope the 25,000 metric tonnes of grains donated to the 1.3 million Nigerians by the magnanimous Ukrainian Authorities still in war with the Russian government is a serious matter, and it deserves attention of Nigerians in the academia, the press, social media and other critical groups.
Again, the Nigerian Politicians like the requisite knowledge, experience and skills to articulate good policies for the improvement of the lives of the citizens.
Finally, the attempts by the Nigerian government to dabble into the already functioning crypto currency exchange innovation in the global village is biting what it could not chew.
I hope the Politicians are jittery and jealous over the income redistribution mechanisms of the crypto currency operations in the international world, Nigeria in particular, which is tilted in favour of both the lower social class and the middle class. Operators and Participants in the crypto currency deals in Nigeria enjoy same access to greatness with the acquisitions of properties as the politicians.
Thus, it is just fear of wealth redistribution that is making the shakeup between the Nigerian government and binance.

My fear somehow is that with all this rumors of war within and between neighbouring countries, this country strands no chance to fight and think of winning a war when there isn't any food reserves to feed the troops or even starving citizens.
Ordinary palliative, the politicians and those appointed to be in charge will hoard these items instead of to distribute. Only to collect and keep is all that's the game and that's greed. Funny enough as they have collected the grains from war thorn Ukraine, how and what do they intend to do with it?

As I always say all time given attention to the happening if this nation can cut person life short the best us to avoid  anything that will add thinking and move ahead sourcing your way to succeed.

Just as removal if subsidy us today so it will be in the case of monitoring crypto and biance by our government because until you solve a problem from the root the solution has not be completely achieve, let them continue with blame game it will come to a point the economy will be worst than fighting civil war.

How can you get food where the rural area is not at peace and can't farm because of kidnapping and herdsmen killing, why the rural area is the food basket of the city.

How can you stop importation where few individual is giving liesence to produce what billion population is making used of and you think inflation will not over take the nation.
The less you think about the nation the mire your solve your psychology problem and balance your body from BP issue

OP, I really commend you for bringing this thread here is very dishearten for such news to befall Nigeria, it is a very shameful thing, Nigeria is now a mockery in the eyes of many nations, with analysis, if all the state in Nigeria decide to go into farming I think we will be the major exporters of agricultural materials, our president had been talking about palliative, it is only in this political and underdeveloped world that we here all this bullshit, poverty beats palliative so in real sense Nigerian has been subjected poverty and it is very uncalled for,  how will a country in a serious war give us grains, let's make findings Ukraine can never be compare with Nigeria in terms of natural resources reserve but we are here finding it difficult to feed, God help Nigeria.

Its so disheartening, but what can we do? we accept our foolishness because there is no other option than to play along with the inconsiderate leaders.

Why surprises me most is the fact that when I hear the price or amount that is donated to Nigeria it's an amount that one house of Rep. member can give out without his account being shaked but they will stuck up this funds in and international accounts and then suffer the rest of us.

What a mess we live in but it's our country we love it regardless of the incapable leaders we have.

I can feel the bitterness from the fellow as at the time of writing this post and I don’t know but I think you’re cruelly a concerned fellow.
The government and the country is already a total mess up and it think it will take extra effort to fix the country and get things back to order. I also agree that the major challenge we have in the country is greed and if greed isn’t tackle on time, I think most of us the common Nigeria we keep suffering because the government is really distracted and already lost focus of what the country’s problems are and that’s also very evident in the ban of binance and some other top exchanges in the country and I also saw a very funny post on x app where a user was calling the attention of the president to the fact that despite the ban on binance, the rate didn’t drop and maybe he should now try checking sportybet and other casinos, couldn’t help but laughed my ass really out.

It is so shamefull a wealthy and great country like naija na all this thing dey happen , if naija na country wey get good leader na dem wey suppose to dey in the position to support Ukraine for the war crisis that is happening now, to send grain , to support with funds. Nigeria is very wealthy, so wealthy than most Europeans country. I'm not even sure that the whole of Ukraine is even bigger than kano in northern Nigeria.  I know no why shame no dey catch our politicians.

 This no be mata wey dey new to anybody and if you begin to list out the deficiencies of our leaders, we no go comot here and we know fully e no go change anything because severally, talks about how the naira dey constantly dey devalued don dey raised up and better solutions don dey offered yet nothing seems to be done, why? Because nah still the same set of corrupt politicians dey seat.
 Nigeria na country blessed with natural resources but when we no get good government wey fit utilize am, nah still square one we go dey.
If we want to see change, I mean positive change wey fit carry us comot from this state we dey to a better one economically, socially and all round, we need selfless leaders. See wetin Deng Xiaoping do for China, how e turn the country from a third world country to the way e dey now because him believe say the citizens get wetin dey needed to grow and he bin no dey selfish, thinking about lining him pocket alone.

I didn't have the luxury of sitting for long to think out a great topic for this post, because it wouldn't matter in the end after comments and replies have started coming in.

We are aware how it is already and how much suffering we are experiencing on a daily basis since the removal of subsidy, since the hike in prices of food items and other charges.

Recently, reports came in from World Food Programme reporting that the war thorn Ukraine donated  about 25,000 tonnes of grains to Nigeria all in a bid to aid the situation that we as a country can't fix by assisting in providing food to around 1.3 million Nigerians affected by the  rising food prices in not just the North-Eastern part, but the whole country.

We are blessed with the best climate conditions and soil structures. Our lands are fertile and people are willing to work, but when it comes to funding the production of food and raw materials, politicians will carry about portfolios and lobby for the contracts to set themselves and family rich for life.
 It's so disheartening to be receiving grains from a country still fighting a war and in need of aid, don't you think?
 
What a country we have, and the government thinks shutting down the operations of Binance or putting a bullseye on cryptocurrencies, is the solution to the devalued Naira.

What are your thoughts?

Source link:
https://www.channelstv.com/2024/03/04/receiving-grains-from-ukraine-shows-nigeria-has-serious-economic-crisis-analyst/