OUR ICEBERG IS MELTING
And i am referring to crude oil largesse. Except something drastic happens with oil prices soon, we all need to prepare for the full weight of Nigeria's main revenue slump. Oil at $40/b barely provides for public sector fraud, which in itself is industrial.
And i am referring to crude oil largesse. Except something drastic happens with oil prices soon, we all need to prepare for the full weight of Nigeria's main revenue slump. Oil at $40/b barely provides for public sector fraud, which in itself is industrial.
Pounds (£) is already N580 at the parallel market as I'm told. Naira is going to hear it, the moment international flights resume, because CBN has to provide Fx for air tickets bought in Naira, and travel invisibles, followed by Fx for fall semester school fees payment, abroad.
As things get messier globally, and pressure to look inwards double, its Nigeria's service sector that can carry Nigeria, not Agric. We have an estimated 25million unemployed graduates, with ~600,000 new graduates added yearly. I hope we dont expect them all to become farmers? 😆
World Bank reported that Nigeria has the most open services market in Africa, with an overall score of 27.1, meaning "virtually open" on Services Trade Restrictions Index (STRI).
If structured and regulated, logistics services in Lagos alone can absorb a million graduates.
If structured and regulated, logistics services in Lagos alone can absorb a million graduates.
When FG banned Fx for maize few days ago, doctors in govt hospitals, teachers & other civil servants probably didn't realize FG has just saved their salary for few more months before the real fasting begins.
Our iceberg is melting. The flood will hit many like the days of Noah.
Our iceberg is melting. The flood will hit many like the days of Noah.
We want money from a govt we dont want to make money.
A private university's annual overhead is barely N1.2Billion in a year it raked in N4Billion in tuition.
I'd have died fighting, If I was told some years ago there're Nigerian parents who will pay N1Million tuition in Nigeria.
A private university's annual overhead is barely N1.2Billion in a year it raked in N4Billion in tuition.
I'd have died fighting, If I was told some years ago there're Nigerian parents who will pay N1Million tuition in Nigeria.
A govt primary school teacher, heard about nipost increment and came out like, "they are thieves. The ones they collected before, what did they do with it?" She stopped working since March and has been collecting full salary, while private school teachers are begging on twitter.
Fellow Nigerians, our usual cynicism card will hurt us more, now that our iceberg is sinking.
I heard logistics companies are meant to pay N300,000 for each bike. It is a lot. But this isnt near what bikes pay McOluomo and Council goons when they were left to operate like RICO.
I heard logistics companies are meant to pay N300,000 for each bike. It is a lot. But this isnt near what bikes pay McOluomo and Council goons when they were left to operate like RICO.
At Isolo then, okada riders pay ~N1250 as garage fees daily, and for council tickets that gets pocketed. That's N456,250. I dont agree that NIPOST should increase its licensing fee, but like we bastardized Uber & petrol stations, logistics should be structured for sustainability.
Legislators cant be bothered. Their salary is first line charge. According to the constitution, all of us first need die before their salaries can be touched.
Months ahead will be tough. There will be no bailout funds. Our iceberg is melting, but the penguins are playing Ostrich.
Months ahead will be tough. There will be no bailout funds. Our iceberg is melting, but the penguins are playing Ostrich.
