Speaker 1: Hey, folks, welcome to under money space with me. My
Speaker 1: name is carlu Ager and of course in this space
Speaker 1: we're talking money, the economy and finance. We had a
Speaker 1: bit of a technical issue a new space, so thank
Speaker 1: you all for migrating. I couldn't hear you, guys, and
Speaker 1: of course we can have a space if I can
Speaker 1: hear you guys. So this week, of course we're talking.
Speaker 1: We're gonna review the new inflation methodology that was released
Speaker 1: by the Nigerian Bureau of Statistics. See if you've been
Speaker 1: fallowing the news. The NBS came out to the news
Speaker 1: stats this week that says our inflation, the Nigrous co
Speaker 1: inflation has fallen from thirty four percent to about twenty
Speaker 1: four percent, So essentially we have prices to rise in
Speaker 1: but at a slower pace, so according to NBS, only
Speaker 1: rising by twenty four percent and not the very very
Speaker 1: high thirty four percent that we had it over the week.
Speaker 1: So that's gonna be our main topic this Sunday. We're
Speaker 1: gonna start to review our MBS was able to reduce
Speaker 1: the inflation number and then maybe see the impact of
Speaker 1: that number on the MPR called the Mantrip Policy Rate
Speaker 1: try to explain how that is connected and also how
Speaker 1: does that then affects other asset classes out there. So
Speaker 1: if you're doing fixed income, if you're doing equities, how
Speaker 1: does the fall in the interest rate affect you? Right,
Speaker 1: that's what we'll talk about on Sunday, but always a
Speaker 1: good time on Sunday to also review what's happening in
Speaker 1: gen economy in the past week, because I don't know
Speaker 1: if you tune in from the US, the UK and Canada,
Speaker 1: and this is one of the places where you guys
Speaker 1: get your information about what's happened in Nigeria. So I'll
Speaker 1: start to mab we give you, guess a summary of
Speaker 1: the key financial issues going in the country that would
Speaker 1: help you the show making and all that.
Speaker 2: So I think the main one.
Speaker 1: That I saw this week that I also affect my
Speaker 1: topic this week is mystart Iwuani. If you get the
Speaker 1: misstarted Juani, it's foremost economist then Nigeria. He said, Nigeria,
Speaker 1: we're spending about eight billion to defend the nira. Eight billion,
Speaker 1: that's what it would be. So essentially, how you defended
Speaker 1: the nira is that you're the central bank. You have
Speaker 1: foreign reserves, right, you can borrow foreign reserves, and you
Speaker 1: can end foreign reserves which means the dollar. Right, we
Speaker 1: can sell crude oil and end dollars, or we can
Speaker 1: borrow dollars from eurobond of an intentional market. So Nigeria
Speaker 1: has issued about a five hundred dollars dollar bond in
Speaker 1: Nigeria local dollar bond, which means that we came to
Speaker 1: Nigeria and two dollars from Nigerian's in Nigeria. We also
Speaker 1: have eurobonds, it should also which means we went to
Speaker 1: outside Nigeria and issued dollars. So we've got all this
Speaker 1: borrowing in dollars, right, plus we end crude oil. So
Speaker 1: when you end, when you end dollars and you have
Speaker 1: a nira currency, the Nigeria and era currency is losing value.
Speaker 1: If you want to defend the nira, what you do
Speaker 1: is that you sell dollars because anything you sell you
Speaker 1: have to then buy something on the other side, have
Speaker 1: to balance the equation. So we've sold dollars. We'll borrowed
Speaker 1: dollars and then sold it and then of course we
Speaker 1: bought nira. So when the central bank does that, the
Speaker 1: narra would appreciate. So when you say sold dollars to
Speaker 1: who to the bd cs. So if you look at
Speaker 1: the center, Bank has continued its policy of supporting the
Speaker 1: bidc market. So every week, if you look at the
Speaker 1: bidity market, every week there's there are new folks. There's
Speaker 1: always a constant supply of dollars to the burroter shage.
Speaker 1: The idea is that if the burder shags have got
Speaker 1: dollars and Nigerians believe that there's going to be dollars available,
Speaker 1: then there's no need to hunt dollars. Right, there's no
Speaker 1: need to holt dollars. I don't think the private of
Speaker 1: the dollars should be one four or one five. That's
Speaker 1: a bit too high. So why is there one for
Speaker 1: one five? Because lots of Nigerians do not believe that
Speaker 1: they will get dollars if they request on the bank.
Speaker 1: So when people want to apply, maybe they'll need a
Speaker 1: thousand dollars to do that transition, they apply for fifteen
Speaker 1: hundred or two thousand, just because they want to make
Speaker 1: sure that they can get their request. So this excess
Speaker 1: request is what's causing this demand pushes one of the
Speaker 1: reasons why this is causing the excess demand on the dollar.
Speaker 1: So you see, it's constantly going up because there's excess
Speaker 1: demand from people. There's an expectation that the nira will
Speaker 1: we'll waken or a dollar will strength in superlan recasing
Speaker 1: for that dollar. That's one big reason. The reason is
Speaker 1: they fall in Niger's exports of crude oil. You know,
Speaker 1: with now, I think the last month or so, we've
Speaker 1: increased our exports in crude oil. We've now surpassed the
Speaker 1: upper quota of one point five. We're now we're meeting
Speaker 1: that quota, and I think we're doing more than that quota.
Speaker 1: That means dollars are going to come into the country, right,
Speaker 1: So that's also positive for the naira very very positive
Speaker 1: for an error. Also, we have Dangota refinery Doglatory finding
Speaker 1: was supposed to be a big game changer because once
Speaker 1: you have a Dangoto refinery, that means you are not
Speaker 1: spending lots of dollars to import PMS into the country.
Speaker 2: So supposed to be a big game changer.
Speaker 1: But Danglote is importing crude oil, so the NNPC does
Speaker 1: not have enough crude oil to give to not just
Speaker 1: than go to, but the other local refiners. What that
Speaker 1: means is that we have just changed the name of
Speaker 1: the import. We are importing pms. Now we are importing
Speaker 1: crude oil. But in effect we are spending down our reserves.
Speaker 1: So as you can see, while we make money on
Speaker 1: the exports of crude oil and also on the boring
Speaker 1: of the dollar, we turn and we spend it on
Speaker 1: supporting and defending there. So eight billion dollars has gone
Speaker 1: to that and that's why Naral has maintained this strengthening
Speaker 1: posture for the last two months. So I listen, don't
Speaker 1: bank too much on the strength of the dollar because
Speaker 1: i e. The exchange rate terms, because the NARA might
Speaker 1: weaken later on. That's that's what he's saying. So that's
Speaker 1: very significant piece of information right there. Get like I
Speaker 1: told you guys in vision rate is going to has
Speaker 1: come down, big, big, major news that we're going to dive.
Speaker 2: Into our this week.
Speaker 1: Just on the beside, I saw it the cut of
Speaker 1: my eye and I saw the guys from flutter Wave.
Speaker 1: If they were in Afro Rock, they were going to
Speaker 1: be the president. They want to also list that's also material.
Speaker 1: Flota is one of the shouted the unicorns in Nigeria.
Speaker 1: Unicorn means that there are valuations over a billion dollars right,
Speaker 1: and where if fintech is able to present the flutter
Speaker 1: wave to Nigeria's stock market and to list it, that
Speaker 1: deepens the market, that creates more wealth, I think for
Speaker 1: Nigeria's because we can now buy and sell into that
Speaker 1: story that grows to it, which is fintech true flotter wave.
Speaker 1: So that's positive for Nigeria, right that we can get
Speaker 1: that done in record time and maybe get them listed
Speaker 1: under the market deepens. We're also waiting for Dangote, the
Speaker 1: Dangota Refineries, welso waiting for them to list. Hearing that
Speaker 1: they want to list this year. Let's see what happens
Speaker 1: if they list. That will also blow up the market
Speaker 1: in a positive way because then they can borrow, they
Speaker 1: can bring down their cost of capital and perhaps then
Speaker 1: fund their operations. The bulk of the process in dollars
Speaker 1: because they're important corude or from the US, but in
Speaker 1: the NAP is able to really really focus and supply
Speaker 1: these guy's recrude oil, then Nigene economy, my view, just
Speaker 1: turned around, really really for good. The way to getting
Speaker 1: Nigene economy to work is to get the NNPC to
Speaker 1: supply all the local refineries crude oil and let them
Speaker 1: bite in dollar, not narra in dollar. They bite in dollar.
Speaker 1: They're able to refine and supply local PMS to niger
Speaker 1: market and they do a subsidy. There is nothing wrong
Speaker 1: with the subsidy. The subsidy is giving the bad need
Speaker 1: because it's imported subsidy. When you import a product and
Speaker 1: you subsidize it, then you're killing yourself twice. But if
Speaker 1: NPT can take local Nigerian crude oil, convert it to
Speaker 1: local PMS and subsidize it locally, there's nothing wrong with
Speaker 1: that ware giving everybody Nigeria a tax break. So how
Speaker 1: will NNPC, because they are paying in dollars be able
Speaker 1: to then recover their money. Well, the by product of
Speaker 1: the crude oil, the aviation fuel, the bittermen, the oil,
Speaker 1: the fatilizer is from crude oil. They can export that
Speaker 1: and they can get their dollars back to them paid
Speaker 1: in a giant federation the dollars for the cruder were
Speaker 1: giving them. If we are able to have an economy
Speaker 1: that works like that, what would happen that the money
Speaker 1: Dangote is paying to the United States and orders to
Speaker 1: import crude oil. He can use that dollar to supply
Speaker 1: PMS at a cheaper price to Nigerian's. PMS should really
Speaker 1: really go down. It shouldn't be this one hundred dollars
Speaker 1: you go back back down. We should subsidize it. That
Speaker 1: then creates an incentive for the local SMME guys in
Speaker 1: Nigeria to manufacture. Even if you're in the generator, but
Speaker 1: you're buying diesel at five hundred nira, which is a
Speaker 1: subsidized diesel, but the subsidy is coming because you are
Speaker 1: giving Dangote crude oil and Dangote is exporting that crude oil,
Speaker 1: and it's able to then come back and take his
Speaker 1: payment to the subsidy from the crude we're giving him.
Speaker 1: It's a win for Dangote, it's a wind for Nigeria.
Speaker 1: It's a win for the ordinary Nigerian consumer. So I
Speaker 1: just hope those I want us to look at in
Speaker 1: that light. There is nothing wrong with the subsidies. If
Speaker 1: you come to the United States, farmers get diesel at
Speaker 1: a subsidized rate, right and they didn't. They won't color
Speaker 1: it differently because they know that food is national security.
Speaker 1: They give farmers subsidized diesel. Same in Europe energy subsidized.
Speaker 1: So Nigeria has been blessed with crudal and gas, then
Speaker 1: we have to use it to advantage. We can't sell
Speaker 1: crural and gards to Nigerian's at the same rate we
Speaker 1: sell to foreign us outside Nigeria, Then what's the point.
Speaker 1: What's the advantage? How do we attract in vessels to Nigeria.
Speaker 1: But if we did it this way, then you'd have
Speaker 1: folks from niger because there's an advantage. If Compnigia, that
Speaker 1: is cheap power. But if you Companigien that's expensive power.
Speaker 1: Why come to Nigeria. I might as well go to
Speaker 1: Ghana or Rwanda. So that's just my point on the NNPC,
Speaker 1: on the flutter wave, also on the inflation numbers that
Speaker 1: are talking about. So let's get right into it again. Guys,
Speaker 1: if you only speak requests to speak or send me
Speaker 1: a DM, I can read both of them. Will us
Speaker 1: put a quote? I can read them all. Let me
Speaker 1: dive right into an angle of the wall that you
Speaker 1: guys to hop in and make your submissions. So then
Speaker 1: inflation in niger a little bit welcoming literature. Nigeria is
Speaker 1: now twenty four percent What that means is that prices
Speaker 1: are going up, but they are going up at the
Speaker 1: rate of twenty four percent, not thirty four So how
Speaker 1: did the NBA has achieve this? When you measure inflation, essentially,
Speaker 1: what you're doing is that you take a basket and
Speaker 1: you put lots of things in that basket. To Niger's skid,
Speaker 1: you put your rent, you put mtenry charge card, you
Speaker 1: put in doom, you put everything, price of beer, you
Speaker 1: put a lot of things. I think I'm saying that
Speaker 1: they're almost one hundred and so items that you put
Speaker 1: in the basket. When you put them all in the basket,
Speaker 1: then you measure the rate of chin of that basket.
Speaker 1: So the basket prices go up by thirty four percent
Speaker 1: on average, and you say in flight, which is will
Speaker 1: called the consumer price index, has gone up by thirty
Speaker 1: four percent. That's basically how the major inflation the average
Speaker 1: movement in price of that basket. Somethings go down, some
Speaker 1: things go up, right, So they average that twenty four
Speaker 1: to thirty four percent. That's what MBAs has done the past.
Speaker 1: In the past, that basket was fifty one percent food.
Speaker 1: So your tubers, your yam, your cassava, you're planting your fish.
Speaker 1: Your meat make up fifty one percent of the Consumer
Speaker 1: Price Index CPI and the NBS tracks Now MBS has
Speaker 1: said that they're only that that basket food and beverage
Speaker 1: is going to make up only forty percent of the
Speaker 1: consumer Price Index. What that means is that if the
Speaker 1: food prices go up in Nigeria, they can only contribute
Speaker 1: forty percent to whatever price is in that basket. So automatically,
Speaker 1: if you do the mass, if before food was fifty
Speaker 1: one percent and food was very very volatile, and food
Speaker 1: contributed to the increase in inflation, if you bring down
Speaker 1: that food from fifty one to four, then you've brought
Speaker 1: down inflation. It's very very simple, and that's what they've done.
Speaker 1: They produced the inflity is food proportion in the CPI
Speaker 1: from fifty one percent to forty percent. Thus inflation has
Speaker 1: come down from twenty four percent to twenty four percent.
Speaker 1: What that tells you, guys, is the impact of food
Speaker 1: in Nigeria. That the price of being is the price
Speaker 1: of rice in Nigeria is what is driving the cost
Speaker 1: of your interest rate in Nigeria. It's tied. It's too direct,
Speaker 1: you know, most of us, and we're not most of us.
Speaker 1: We live in Legos, we live in Portakata, which are
Speaker 1: we live in the cities right, and we do citizens.
Speaker 1: We buy a car, we get a mortgage and all
Speaker 1: that kind of stuff. But we don't understand the correlation
Speaker 1: between what the farmers farm and how we pay for
Speaker 1: our rent interest. Because as long as in food is expensive,
Speaker 1: that whatever you do in Legos is going to be expensive.
Speaker 1: It's just that's It's just that it's tied in. If
Speaker 1: you want to borrow more to buy a house and
Speaker 1: beans in borrow, No, it's expensive, they're going to pay more.
Speaker 1: The way you bring that inflation Nigeria is to bring
Speaker 1: down the cost of food in Nigeria. It's so simple
Speaker 1: that it's mind going, well, I haven't done it. We
Speaker 1: haven't done it. Well, I haven't tried. The problem is
Speaker 1: the insurgency and the insecurity in the North. That's the problem.
Speaker 1: If there was no insecurity and insurgency, then there will
Speaker 1: be more food flow into the cities. But it's none.
Speaker 1: Key example Lake Rice that was Keby and Legos. It
Speaker 1: started off beautiful concept. Keby has subplots and Rise Legos
Speaker 1: have supplots in cash Legos who give kerby cash Kerby
Speaker 1: give Legos rise. Everybody is happy, GDP is up, hunger
Speaker 1: is down, boasted, make money. But now there's no rice
Speaker 1: flowing in the same numbers from KB to Legos. Legos
Speaker 1: have got the largest rice mills in the world, sorry
Speaker 1: in Subtan Africa, in Legos. But we have no rights
Speaker 1: but to make those factories run twenty four to seven.
Speaker 1: And that's the problem. We import gary, so's asking me,
Speaker 1: William Potgarry, Yes, we import carriy just Google does Nigeria
Speaker 1: import garry? You see the picture has seen it myself
Speaker 1: in the story in Abuja. We import gary from India.
Speaker 1: We import carbonated water, We import everything because local food
Speaker 1: is expensive. That's the problem. If you want to make gary,
Speaker 1: the total cost to get the cassava, the palm oil,
Speaker 1: to cook, fry, bag it, it's more expensive than if
Speaker 1: you just import gary from India. That's the problem. If
Speaker 1: you grow rising kevy, when you bag it fertilizer, it's
Speaker 1: taken the Legos is cheaper to simply import the rise
Speaker 1: from India. You can run the numbers yourself. The problem
Speaker 1: is the cost of local production is just too high
Speaker 1: for manufacturing Nigia which prints us to the MPR. The
Speaker 1: reason why the high dollar cost the subtly on dollar.
Speaker 1: We remove subsident a dollar, but it seems that's expensive.
Speaker 1: It's the high cost of production. It's all tiding. If
Speaker 1: you have expensive dollar, then it's cheaper to import because
Speaker 1: the cost of the petrol used in Nigeria has added
Speaker 1: the cost. We're not getting any savings from Dangotte. So
Speaker 1: to make the same rise, Diangote is important. The same
Speaker 1: food oil with the factory in legals to the use
Speaker 1: as diesel to manufacture the same food. But in America
Speaker 1: they don't use thisel to manufacture food, so they have
Speaker 1: a lower cost base than Nigeria, right, and that's a problem.
Speaker 1: So if you look at the title, that's a methodologist
Speaker 1: part we've talked about. Now, if you are investing in
Speaker 1: Nigeria and interest rates have gone and infession that's gone down,
Speaker 1: it should mean that interest rate should start to come
Speaker 1: down as well. Mean that if you have fixed income
Speaker 1: fixing come prices will start to come down, which means
Speaker 1: the one you are holding today is going to be
Speaker 1: more valuable than the ones that are going to come tomorrow.
Speaker 1: So that's the hint right there, what about shares? If
Speaker 1: interest rates are going to come down, of course that
Speaker 1: test equities are going to perhaps have a bigger run
Speaker 1: way to rise because now their competition fixed income is
Speaker 1: coming down, so share to have a larger runway.
Speaker 2: To turn around. It well limited and before you join,
Speaker 2: I talked about flutter.
Speaker 1: We've going to the assal to see the president and
Speaker 1: FLATA isn't the equity as a class? I'm not sure
Speaker 1: if you have an inkling on what you expect from that.
Speaker 1: Do you think that's going to be a big game changer,
Speaker 1: like we all think that is going to be that
Speaker 1: flat wave coming to this in the market will open
Speaker 1: the door to more fintext and deep in that market
Speaker 1: and create more world out for Nigerian's what's the coming
Speaker 1: Let me hear you out on this and also on
Speaker 1: our general topic.
Speaker 3: There you go, sir, interesting disposition, greatly space and my
Speaker 3: first of all, I think it's doing just like the
Speaker 3: lighted very busy points ahlighted than I feel that the
Speaker 3: opportunities coming ahead of the year and.
Speaker 4: Starting with floot with.
Speaker 3: It's one of the most popular unicorns in Nigeria, I
Speaker 3: think based on the latest valuation.
Speaker 4: It has the highest valuation by if it.
Speaker 3: Takes our last bookmakers put it at three bill onto us. However,
Speaker 3: I really didn't see any much of a bid you
Speaker 3: going to see, mister president. Maybe it was just more
Speaker 3: of a symbolic trying to crow my awareness because the
Speaker 3: NNGX is privately round and you also need.
Speaker 4: To understand that.
Speaker 3: There is need to impuse the president and put in
Speaker 3: this listen of that business on the market. One of
Speaker 3: the problems I have with Foot with Start, they sell
Speaker 3: conflictencignals a couple of times, and that has made investors,
Speaker 3: particularly the local space Bach concern. You know, the last
Speaker 3: interview they made is said that they will come to
Speaker 3: the market when they're profitable, and oftentimes it has always
Speaker 3: looked like they were going to in the usesty stock market. However,
Speaker 3: you know, I've always wanted them to have it to
Speaker 3: our listing proposition, going from the fact that if you
Speaker 3: look at West Playing Junior, there was the point you
Speaker 3: have had over one billion dollar variation. And you also
Speaker 3: need to understand that local perspecsion also can support the
Speaker 3: stock price even if the stocks is in trouble water.
Speaker 4: So as we speak of Jumior has a variation of
Speaker 4: the lesson of that, so I thought that they should.
Speaker 4: So it's a good thing can do.
Speaker 1: But that.
Speaker 3: Going from their body language, three billion dollar variation of
Speaker 3: the company at bestspiring profitable, then it's going to be
Speaker 3: a lot of problems.
Speaker 4: It's going to be a lot of problems because.
Speaker 3: First of all, like you have talk, investors are not
Speaker 3: like the Americans. We see our last that that groups
Speaker 3: talk and imper share price book trade away just are
Speaker 3: beautiful for investment backers. There are three things I know
Speaker 3: Nigers like you know calling my covery the stop packet.
Speaker 3: They want profitable business. They like to hear, they like
Speaker 3: to see, but like have your cash fow like games.
Speaker 4: Here and yeah cash iskame.
Speaker 3: But Niger investors want to see making more.
Speaker 4: A lot of fit that companies.
Speaker 3: Distance and Niger stop to plays radiation and they're profitable.
Speaker 3: So you have to do them more than just being
Speaker 3: beautiful or saying you have one. And they don't care
Speaker 3: if I wanted your customers.
Speaker 4: They really want to see this year buybacks. They want
Speaker 4: to see the world on culturers want to see crude.
Speaker 4: They want to see real crude and trust me, don't
Speaker 4: check into your books. So if you can offer that, well,
Speaker 4: maybe that three. But I really.
Speaker 3: Feel that they will need to make the volation more attractive,
Speaker 3: because if you're saying that that voluation has did listening
Speaker 3: is at these two times bigger than gits bigger than
Speaker 3: the BLA, you must be offering with those guys. So
Speaker 3: I think we have a lot of the investment bankers
Speaker 3: would have to do a lot to position and I
Speaker 3: don't know how they would attract with the perspecial but
Speaker 3: people them. Then another interesting thing you said, I do that.
Speaker 3: I also felt that.
Speaker 4: We should talk about like we spoke about the interest.
Speaker 3: Rates and the now, we spoke about certain and I
Speaker 3: think in the effects piece, I listened to bismark one,
Speaker 3: somebody I respect so much, and you know, it's one
Speaker 3: of the few minds that have big consistent with his
Speaker 3: analysis in that space, and I feel like, even if
Speaker 3: you don't agree with him, he deserves onions. However, I
Speaker 3: think the gain in generra, like you said, short term,
Speaker 3: but the short term seems not to be like the
Speaker 3: way the papers are putting it, because you know, if
Speaker 3: we listen to book pakers and a lot of investment
Speaker 3: perkers all here about then there.
Speaker 4: Are three conditioners they give for.
Speaker 3: You saw that then stability try coming to play November.
Speaker 3: You're going reforms by the CPM, and the fact that
Speaker 3: the CBA keeps giving the physical side enough time to
Speaker 3: make those spends around the economy as then somehow and
Speaker 3: I don't really think the sibling is defending it billion. Yeah,
Speaker 3: the cost of the cost of building fpis have been expensive.
Speaker 3: But with the fact that the rates are going down,
Speaker 3: to look at the treasury market for example, games are
Speaker 3: now below twenty percent to this sort and total amount
Speaker 3: of suction we saw in the supreme counts is about
Speaker 3: what they're seeing in the most recent gos. With the factors,
Speaker 3: it seems that our saving graces to be the stop
Speaker 3: market an. Unfortunately this week I so Malos and the
Speaker 3: giant banks act because that school still remains. I mean
Speaker 3: in banks is stig the many things are. So that's
Speaker 3: why the fact that yeah, inflation loose lower the re basing.
Speaker 3: So the writer is that THECIPN was wise in their
Speaker 3: own their own rights not to make institutions pularly the
Speaker 3: fact that they need to compare since then the new
Speaker 3: basin just to place a few days before the meeting,
Speaker 3: and it needs to take them to really see if
Speaker 3: inflation this week coming down as as they want.
Speaker 2: Yeah, so let me what I hear you saying.
Speaker 1: So if you look at the market now usually with
Speaker 1: the NBA to say inflation is down, then the CBM
Speaker 1: will then based on that report to lower its monitory
Speaker 1: policy rate, which you then say, listen, banks, if you
Speaker 1: want to borrow from us, so you're going to borrow
Speaker 1: at a lower rate. Then the banks will then transted
Speaker 1: that today's investment and say listen, if you deposit money
Speaker 1: with us, we're going to pay you lower. Then the
Speaker 1: stock market will then take dressing and say, wow, fixed
Speaker 1: income is paying lower. With mean that if I'm a
Speaker 1: stock I can do better because people will run to
Speaker 1: me because they want to get more risk with their returns.
Speaker 1: Same thing with bonds. So if you have a current
Speaker 1: bond paying five percent, if rates go down tomorrow, your
Speaker 1: new bonds will be paying three percent. So the bonds
Speaker 1: you have today become more valuable, so their prices go up.
Speaker 1: But this is now with this new change in the
Speaker 1: NBA's data, it's not being driven by an actual change
Speaker 1: of prices in the market. The NABS themselves said, prices
Speaker 1: have not come down. All they've done is to say,
Speaker 1: maybe when you have malaria, the doctor comes and measures
Speaker 1: your temperature, but you have madeia. Now doctor is saying
Speaker 1: I won't measure your temperature, but you are still sick.
Speaker 1: So really, in your own take, now is dearely going
Speaker 1: to be a market reaction because you and I know
Speaker 1: invesion is still twenty four percent. That's still wild because
Speaker 1: we've removed the whole ten business points and we're still
Speaker 1: at double digits starting with two. It's profound. You know,
Speaker 1: we've taken away ten and we are still at double
Speaker 1: digits with two. So yeah, yeah, Vocano paper.
Speaker 3: Materially, it means that Nayan stalks can really bring out
Speaker 3: real returns. If you look at just to see a
Speaker 3: loon I can give you at this forces talks that
Speaker 3: are trying the nanga and inflation repased on repeat value both.
Speaker 4: You know, it's really alighted to the fact.
Speaker 3: That the feelings are different from what's per se on people.
Speaker 3: But from an investment perspect team, like I said, the
Speaker 3: market has.
Speaker 4: Always directing you know, the grand banks. That's by the
Speaker 4: fact that any season's gitt assets, you be first.
Speaker 3: Bank if not who first bound declared, these other banks
Speaker 3: have not declared. The are twenty four results are usually dividends,
Speaker 3: so some of these who are surprised well as so.
Speaker 4: Some profit taking. So first of those are kind.
Speaker 3: Of questions like you I like it, and you know,
Speaker 3: we spoke about the fare tragic and used as the
Speaker 3: need drops transcription is not even though it was fully
Speaker 3: who are subscribed as usually the Grand Treasure is usually
Speaker 3: for subscribed, but if you want to know the amounts,
Speaker 3: it's really moderated.
Speaker 4: And you also said that it also give an advantage.
Speaker 3: For long term bonds, so when it's dropped, really long
Speaker 3: term pons at that. But card, you know, like you said,
Speaker 3: still the arly fice. But what I can say is
Speaker 3: that I don't think it's too good for dinner personality
Speaker 3: my own opinion, and you know, I've listened to many experts.
Speaker 4: For me, my perspective is that, you know, the the
Speaker 4: from the.
Speaker 3: Governments side, the advantage is that the cost of defininger
Speaker 3: will be less because the interests depend on their opinion
Speaker 3: at least on the fact that is we drop or
Speaker 3: really start better over.
Speaker 4: It means that the export from an investor perspective.
Speaker 3: We all know why that why the NARRAW for now
Speaker 3: has been doing party work.
Speaker 4: It's not the fact that could has been amazing.
Speaker 3: Let's leave those people work that they're saying they're getting
Speaker 3: from your empires before twenty.
Speaker 4: We know that it's almost like saying which hit a tutud.
Speaker 3: Into the economy because the unit is that distances don't
Speaker 3: work those by saying most things on ground and all
Speaker 3: investments is really tied.
Speaker 4: To so many things.
Speaker 3: And also Nigeria is not working in vacuum. We work
Speaker 3: relationship with different So who has been seeing a cargo
Speaker 3: right blow is fpis uh? You know fpis are kind
Speaker 3: of time and we also need to find ways. And
Speaker 3: my problem with this governments is that while the CPN
Speaker 3: has done amazingly if well in terms of funtain markets objectives,
Speaker 3: the fiscal side have not been just supportive because we
Speaker 3: still don't have an eadcon on me that can really
Speaker 3: sour thing what the Apex Bank has done so far,
Speaker 3: because if we look at the fact that we dropped inflation,
Speaker 3: past has blocked about something. He said the production is
Speaker 3: not dismissing his goal is very low. Ever since I've
Speaker 3: been covered with the financial markets CAGU I've never seen,
Speaker 3: and agricultural ministry is inactive, even I.
Speaker 4: Remember that.
Speaker 3: A lot of people criticize I've seen, you know, the
Speaker 3: badge the cultural ministry while doing so much.
Speaker 4: If a lot of it might not be it might
Speaker 4: not be as efficient.
Speaker 3: As one expected, but the amount of professionals and programs
Speaker 3: we saw in that space was legendary, so can My
Speaker 3: thing is that the core part of the economy is
Speaker 3: not fired up.
Speaker 4: However, you know, the private sector.
Speaker 3: Has really been on the wrong and if you look
Speaker 3: at results from last year, it seems.
Speaker 4: The worst is over, you know, And that's why you
Speaker 4: also look at it from.
Speaker 3: That perspective, especially on bull Bank reports saying that the
Speaker 3: reforms of the president and this administration seems.
Speaker 4: To be paid, which I totally agree. But the problem
Speaker 4: is that reforms, like you said, are just the.
Speaker 3: The structure that really puts a party on our pairs
Speaker 3: are built. But the institutions that really make the stans sustainable,
Speaker 3: we're not seeing it because, like you said, food it's
Speaker 3: still expensive.
Speaker 4: I did an analysis.
Speaker 3: I looked at almost all stocks around the world on
Speaker 3: determiner I tried to compare with I can't.
Speaker 4: See and pure water paer water.
Speaker 3: I'm talking of units that if you look at when
Speaker 3: g when Git.
Speaker 4: Was dis dey, when city was just dead.
Speaker 3: Dig stalk was more expensive than peer water. If you remember,
Speaker 3: if you just look at some stocks in these there
Speaker 3: was the time.
Speaker 4: The first boom first bank.
Speaker 3: There was the time first bank was almost as expensive
Speaker 3: as a cheap one in Nigeria, you know. But when
Speaker 3: you look at the talks compared with food, the wave
Speaker 3: food that has gone on, pure water is expected than
Speaker 3: sty percent of the.
Speaker 4: Stock this day. So it tells you that good food
Speaker 4: inflation has.
Speaker 3: Go past than even the unit price of an average
Speaker 3: packing stock.
Speaker 4: Also, you look at Nigeria, you look at the blue
Speaker 4: chip stocks.
Speaker 3: For example, you look at spaghetti in Europe, and every
Speaker 3: spaghetti and you get for one y or less, you
Speaker 3: know the most, even the ones that have brown flower
Speaker 3: you for two three rules. If I want to buy
Speaker 3: as basically or shell stock, I spent at this other
Speaker 3: times that value. But in the idea I want to
Speaker 3: buy spaceetical apart from hotel and probably the plant, I
Speaker 3: would buy any bluetube stock.
Speaker 4: So it really tells you that the core problem of.
Speaker 3: The Nigeria economy is weak, disposable income weeklystitutional lack of
Speaker 3: coalition between the priscal and the monetary side. However, like
Speaker 3: I said, you know, you can't better against Nigeria. Like
Speaker 3: our stock market just by different times was down glided
Speaker 3: by two topreating web is already firing up at over
Speaker 3: five percent year to take care companies are bigger than important.
Speaker 2: So long the just for the just question for you.
Speaker 1: So in your own personal expertise right this following MPR,
Speaker 1: is it going to affect prices of say stocks, do
Speaker 1: you see changing the price of safe stocks Nigeria wouldn't
Speaker 1: have any effect.
Speaker 2: It's just cosmetic, just in your own personal view.
Speaker 4: Yeah.
Speaker 3: So you know, like I said, Rety, the empsy emphasis
Speaker 3: Indian look at banking stops.
Speaker 4: It dropped, It drops slightly what their own banks you
Speaker 4: know we do with the drops are moldy.
Speaker 3: But in particularly tells you that investors were not really buying.
Speaker 4: Into what they go from the MPCY meeting, you know,
Speaker 4: but realities.
Speaker 3: Like I said, you know, investors react based on fundamentals
Speaker 3: coming up in the market.
Speaker 4: Let's see how results comes in play.
Speaker 3: But my lot of the review is that from the
Speaker 3: Mountry side, from an investors side.
Speaker 4: I like what the CPN is doing. I like the
Speaker 4: fact that they were didn't rush into decisions.
Speaker 3: I like the fact that there are many minis reading
Speaker 3: and based their rationality behind holding on race and the
Speaker 3: revisions about following UH, the drop in care physical items
Speaker 3: ACTI and U orthers to help.
Speaker 4: Yeah, he needs to love guys. But the truth of
Speaker 4: the matter that Calu I didn't know that.
Speaker 3: Inflation MPP inflational readings can as due to effect of
Speaker 3: food inflation.
Speaker 4: Like I've always argued, if I don't really want to bring.
Speaker 2: Hold on, go ahead.
Speaker 4: If cal wants to bring inflational to single tickets, he
Speaker 4: has to do well.
Speaker 3: And refinitely feel that he has to go to agricultural
Speaker 3: divation because agriculture whether you PAS.
Speaker 4: When I introduced it to I think this guy is sorry,
Speaker 4: Mike uh.
Speaker 3: To the weight of the CPI on food but is reroduced.
Speaker 3: One of the lesser than forty percent of the matter
Speaker 3: is that who is.
Speaker 4: The major problem facing in.
Speaker 3: Nigeria economy is affecting the capital can do so.
Speaker 4: I personally think that we need more introvation and culture.
Speaker 4: I think we need to talk more than culture. Can
Speaker 4: We really don't have.
Speaker 3: Programs in our culture listry. I don't want anyone that
Speaker 3: can say this as sure is trying to do as
Speaker 3: really prod as really helping people. Right now, adlands are expensive.
Speaker 3: FACUS is more concuted on making dollars and focusing on farmers.
Speaker 4: The president or the deal imports of food like them
Speaker 4: has not been implemented.
Speaker 3: Do I understand why it has not been trying to
Speaker 3: protect the farmers so it has the post cart costs.
Speaker 3: Understand that, but you know, we really need food programs
Speaker 3: that really elevate.
Speaker 4: The problems over there.
Speaker 1: With that you have, Okay, I hear, just could you
Speaker 1: get in manor, But I wanted to ask you if
Speaker 1: in your mind you you were you are intering to speak,
Speaker 1: what do you want to talk about if I have
Speaker 1: there for Limida and all that? Okay, So that doesn't
Speaker 1: be clear on what you just highlighted. So this fall
Speaker 1: in if we look at rates in the banks, if
Speaker 1: we look at it in the stock market. You said
Speaker 1: the stop just a slightly. Do you think that if
Speaker 1: we administratively bring down the price of all the cost
Speaker 1: of inflictient Nigeria it would have a positive effect. Because
Speaker 1: Bloomberg is saying the reforms are working. Would it offshore
Speaker 1: attract investment because they just look at the numbers. If
Speaker 1: you go on Nigeria's website now in the four percent,
Speaker 1: how they got in four percent not non.
Speaker 2: Lowood would dig in?
Speaker 1: Will the net net be positive for the niger economy
Speaker 1: that we're going to say incrissions coming down and we
Speaker 1: can sell that story to investors.
Speaker 4: I think, like I said, I think the.
Speaker 3: CBN and the Primary sept go doing a really an
Speaker 3: amazing job. Look atative for example, look at assets, look
Speaker 3: at look at the.
Speaker 4: Amount of delible to generate.
Speaker 3: We did a limited amount of time despite the fact.
Speaker 4: That liquidity disposible. It tells you that yeah, to see
Speaker 4: open the market. The major who we have. The major
Speaker 4: issue we have to glance to.
Speaker 3: The masure issue we have is we don't have continuation
Speaker 3: of and price stability in sense that for example, we
Speaker 3: look at it now and now the last year, there
Speaker 3: was a point where the now was going lower.
Speaker 4: Than one thousand there and things change and why I
Speaker 4: was changing.
Speaker 3: We're already shouting shouted about fac ad vocation for something,
Speaker 3: shouted about piscal discipline. We're already shouted about were still
Speaker 3: in government, government spending and things like that, you know,
Speaker 3: like what you see in America and what you're coming back.
Speaker 4: The major problem we have the can is from the
Speaker 4: fisical side.
Speaker 3: You know, we don't have to connect between the west,
Speaker 3: but north the south like you as are divided in
Speaker 3: terms of this flation. People don't understand that we make
Speaker 3: up the country, not the tribes make use you know,
Speaker 3: So we have no problems on that side. However, like
Speaker 3: I said, investors are treating and if you look at
Speaker 3: the stock market right now FBI per specially the stock
Speaker 3: market increased.
Speaker 4: Last quarter, increased entes that I should increase, so gradually
Speaker 4: fairs are coming and it's positive that yous.
Speaker 3: Are going down in the trading p market because can
Speaker 3: well with a reader you and invests.
Speaker 4: Look at money market.
Speaker 3: It was so popular last year because just put your
Speaker 3: money blindly twenty two percent, you get twenty to twenty
Speaker 3: two perp. Cardstone was giving us as twenty four percent.
Speaker 3: So a lot of people who felt like this is
Speaker 3: risky money.
Speaker 4: So they will not really invested. So the fact I
Speaker 4: use that dropping tragedy we might see are not gradually
Speaker 4: in the stock market. However, you know, the stock markets.
Speaker 4: Most of the stock stairs training are both to retire.
Speaker 2: Gotcha.
Speaker 1: So the key point is that, of course the rates
Speaker 1: dropping will not be so kind to the current investors,
Speaker 1: but it forces everyone to go look for risk. So
Speaker 1: risk means that the banks can start to look at
Speaker 1: SMEs to where they can make money. Because right now,
Speaker 1: as you and I know, all you have to do
Speaker 1: as a bank is way to collect the deposits at
Speaker 1: five percent and buy tretributes at twenty percent, you make
Speaker 1: fifteen percent risk free, risk free as a bank, which
Speaker 1: wouldn't be So the bank should be taking that money
Speaker 1: and looking for risk. I mean the cibying has said, okay,
Speaker 1: fifty percent CRR all that kind of stopboard. Really there
Speaker 1: is no the entrepreneurs at the lower end of the
Speaker 1: market do not get credit, and they don't get credit,
Speaker 1: how can they invest? How can they pay salaries if
Speaker 1: they get credit at twenty five percent? How can they operate? So,
Speaker 1: in essence, where I'm trying to go to that, even
Speaker 1: though I see the methodology might be flawed, I think
Speaker 1: the CBS should try to jump on this, you know,
Speaker 1: last place to them the day before we even got
Speaker 1: this the NPR. So the CPR toot from the NBS.
Speaker 1: We said, the CBN has got to change its fight
Speaker 1: against inflation. It's fighting a monetary fight on a supply issue.
Speaker 1: The problem with such naguer is food supply from the
Speaker 1: North and the Middle belt is not coming to the south.
Speaker 1: That's the problem. When you measure inflation tubers, youm tubers
Speaker 1: casaba tubers. That's what's driving inflation. Meat fish is not
Speaker 1: caused by too much money in circulation. If today there
Speaker 1: is zero money in circulation, the price of food will
Speaker 1: still not come down because there's just not enough food
Speaker 1: in the market. Lego sty today is doing their strategic
Speaker 1: reserve where they can buy food in bulk and staring
Speaker 1: legos and distribute. That's what decipient should really be investing
Speaker 1: in to get food security so they can grow food.
Speaker 1: But that project is a strategic project. What if all
Speaker 1: states did that, if all sets infectation did all legos? Instead,
Speaker 1: we're going to create this warehouse system where we're going
Speaker 1: to buy food during harvest and we're going to store
Speaker 1: that food during harvest, so that when in food price
Speaker 1: food supply goes away from that warehouse, we can supply
Speaker 1: of our cities and that would keep on bringing inflation down.
Speaker 1: They stayed to buy in Bolk, buy tomatoes, buy cassava
Speaker 1: in Bolk, could freeze it in the place and the
Speaker 1: market folks.
Speaker 2: Can go there and then sell from that.
Speaker 1: So webs is I like what they are doing if
Speaker 1: we can jump on it and improve the price, and
Speaker 1: if we simply live it at yesterday and take it
Speaker 1: down to ten percent.
Speaker 2: But you can't get rights in the market. They were
Speaker 2: in trouble the manual. So you want to speak, So.
Speaker 5: I wanted to.
Speaker 4: Als you the listen of the food and yournes change.
Speaker 6: How long does it take for the whole arguments we're completed.
Speaker 1: I don't think then. Okay, thanks for the question, sir,
Speaker 1: But I don't think the abilities. I saw them at
Speaker 1: Asso Rock and they were going to Asso Rock to
Speaker 1: tell the president that they want to list. I don't
Speaker 1: know why they were doing that. The market is private sector,
Speaker 1: it's open if you want to list, to go on list,
Speaker 1: you know, I'm not sure.
Speaker 4: Yeah, honestly, I think it's Also it's not now. You know,
Speaker 4: people are even doubting because you look at the thick pack.
Speaker 3: I think you should be aware that when you see
Speaker 3: him over and over, this is like the fifth times
Speaker 3: say that they got to this if you look at
Speaker 3: the people's different locations and as you come to frutation,
Speaker 3: it's affects the integrity, you know. Having said that one
Speaker 3: more standards will maybe this time they really because they
Speaker 3: mentioned the stock marktop market. But like you said, the
Speaker 3: president has did to when when other he was listed on.
Speaker 4: The stock market, it didn't go to see the president
Speaker 4: when you know, so.
Speaker 3: Yeah, do the president can added color to it. Let's
Speaker 3: be honest, because when they went to the Mendi president
Speaker 3: and the announced died, it was all over the dails
Speaker 3: that might not have been so seen. The president definitely
Speaker 3: added you know, but from an investment restors perspectives, you know,
Speaker 3: people really want to see the company really make him
Speaker 3: when they ow city books sost investment bankers really have
Speaker 3: to do a lot of working and from gosses are
Speaker 3: in from investment bankers.
Speaker 4: Nobody as singer book really people. So in reality, so
Speaker 4: I think I don't.
Speaker 3: Want to see anything yes could see maybe second, so
Speaker 3: I don't hope that despite it comes to futation.
Speaker 4: Not just for the people.
Speaker 2: Okay, perfect perfect response.
Speaker 1: There the second question to ask you look at our title,
Speaker 1: So stocks are there's going to be helping us. What
Speaker 1: about like eurobond that are in dollars, those eurobonds, does
Speaker 1: this have any effect on them? Will those you know,
Speaker 1: bond prices come down or up? I look at it
Speaker 1: right now, some are at the premium. Do you think
Speaker 1: if mpnager is going down and I have dollars and
Speaker 1: I want to invest, would I convert to NYRA and
Speaker 1: invest or just living dollars and what I'm putting on
Speaker 1: the what's you're taking on?
Speaker 4: That could.
Speaker 1: Like?
Speaker 3: Yeah, but to be listened to, having exposure and that
Speaker 3: a plan makes a lot of sense.
Speaker 4: But I'm always against.
Speaker 3: Training that the black market to the price at which
Speaker 3: the now is trading right now.
Speaker 4: And tends to be a more attractive My basis that
Speaker 4: they are not.
Speaker 3: There's the governments is doing in the effects market dialogue
Speaker 3: to are ignoring.
Speaker 4: You know, at some point of the year, the.
Speaker 3: Government is going to restrict news of the dollar in
Speaker 3: illegal markets. So what I mean it's like treating dollar
Speaker 3: outside barking in doors to better deliqua.
Speaker 4: You know, there's so I feel like that might give
Speaker 4: the nurs from.
Speaker 3: Saving graves and that contains fors so buying and getting
Speaker 3: nine percent premium might be a good age.
Speaker 4: Getting about nine percent premium might be a good age.
Speaker 3: Or if se the dollars from where you get to
Speaker 3: seven to eight.
Speaker 4: Percent, you know, for those that like free investments, you know, seven.
Speaker 3: To eight percent dollars, it's not really bad, you know,
Speaker 3: if you're looking at what the treasury market is given.
Speaker 3: But personally can I think I'm really looking at Nigerian companies. Personally,
Speaker 3: I see want to Cooper and Nasty's doing. I'm waiting
Speaker 3: for them to be listed on the n g X.
Speaker 3: Look at pres School. Preschool has done about fifty percent
Speaker 3: this year.
Speaker 4: I look at.
Speaker 3: So Yeah, I'm looking at businesses that we really ride
Speaker 3: with the Nigeria economy and personally edging with the effort,
Speaker 3: edging with the Europe and might be a good position.
Speaker 4: But I'm putting most of my position in the.
Speaker 3: Nigeria equity markets, particularly the fact that Nigerian bank.
Speaker 4: So I'm waiting for Nigerian banks to correct because I
Speaker 4: know after any results will be a lot of cellos
Speaker 4: like what you saw, you.
Speaker 3: Don't want you when what do you played one for?
Speaker 3: Was it one for twelve or one for fourteen? And
Speaker 3: after times I just start dropping six hours. So definitely,
Speaker 3: I know g ty assets you be to give. After
Speaker 3: the give then payout because this.
Speaker 4: Stocks will have to drop.
Speaker 3: So maybe I might look at the time and I
Speaker 3: look at the right time and two guys time because
Speaker 3: personally right now I have THENT called the stalks, but
Speaker 3: I want to see what these guys would really pay
Speaker 3: Fordian Calumny.
Speaker 2: So you say you are so just to again put
Speaker 2: in a spot.
Speaker 1: You are holding nira to invest in Nira, or you're
Speaker 1: holding dollar to invest in dollar, or you're doing dollar
Speaker 1: to invest in Iira.
Speaker 4: Quick quick question. Last year I was I was, I
Speaker 4: was using.
Speaker 3: A dollar to invest in there. Last year I was
Speaker 3: using I was using larger part. I changed you about
Speaker 3: thirty percent of my dollar picture I put.
Speaker 4: It in a dollar Nigeria.
Speaker 7: You know.
Speaker 3: But this year, this year, since I've gotten wild, I'm
Speaker 3: balancing out. When I'm balancing out, I am not changing.
Speaker 4: You know. I'm also trying to just manner because.
Speaker 3: You're not from the not because of lack of comedience,
Speaker 3: but the fact that avoiady achieved my.
Speaker 4: Objectives. You know, last year I felt that I was
Speaker 4: there's no how den will get to two thousand five order.
Speaker 4: I felt that that was an exaggeration.
Speaker 3: I felt that at some part as the wuty and
Speaker 3: my investment objective was achieved. So going forward, I'm just
Speaker 3: going to look for seafar use and I think the
Speaker 3: fixing home the parking stocks.
Speaker 4: Will give me that. Then I will also look for
Speaker 4: with for Dann Coute, danncut it does it look like
Speaker 4: it's going to do so soon? You know, I was
Speaker 4: personally more exposed.
Speaker 3: In amoder market because of Dancuti. So how definitely people
Speaker 3: with footopic comes bringing a something that might look at
Speaker 3: I definite thing we look for good on Aleta sc
Speaker 3: and uh.
Speaker 4: You know I wanted a business man.
Speaker 3: I wish I could going to real estate market the
Speaker 3: are I I tried it some couple of times.
Speaker 4: But it's not some including Nigia, its are not something
Speaker 4: that that with.
Speaker 3: How I encourage people that have depocations is good for retas.
Speaker 4: Does it just choose you performance? So basically I'll stick
Speaker 4: with equidity and.
Speaker 1: Question again on this the report again out the gold
Speaker 1: is rising in value. Many folks are scared about what
Speaker 1: America is going to do in terms of tariffs the dollar,
Speaker 1: so folks are trying to buy gold sort of hedge
Speaker 1: against that. There's gold, there's bitcoin. Bitcoin to me looks
Speaker 1: like I don't know what bitcoin does when things are bad.
Speaker 1: Bit coin falls when things are bad, gold rises. So
Speaker 1: I assure you can even list pit coin as a
Speaker 1: safe so someone can go and pack money. But what
Speaker 1: your take on on goal? And I mean if you're
Speaker 1: trying to buy gold, I know, I just buy barring school,
Speaker 1: I just buy the eating that sales goal. What's your
Speaker 1: take on that? Is this something I should do? I
Speaker 1: mean there's dollar that we usually buy and keep in
Speaker 1: our pocket. So we also look at commodities like gold,
Speaker 1: like you know, orange juice.
Speaker 2: What do you think of that?
Speaker 4: Yeah, this is a lot of sales column. Like I
Speaker 4: held to your fun of me, Tims, I used to
Speaker 4: I paded.
Speaker 3: Good on the sport, so I held at around two
Speaker 3: thousand hundred and it's been.
Speaker 4: For what do I got it too? And the reason
Speaker 4: why I bought then was just that I really wanted
Speaker 4: to understand how you put the car? Did you put correditions?
Speaker 3: Because I felt like the dollar in industries were I
Speaker 3: fairly high in golard lives and go shoot be at
Speaker 3: the place value board. What I've found out was that
Speaker 3: central part. But Good China was only.
Speaker 4: Good by his spirit, so that increased the attraction for Good.
Speaker 3: And you know Good also has this ornamental value among
Speaker 3: women and he loved so I think that also played
Speaker 3: in part.
Speaker 4: So I'm not surprise Good is at that level.
Speaker 3: However, you know a lot of bookmakers still argue that
Speaker 3: Good has more roof outside because Don Trump has lighted
Speaker 3: the fact that he wants us to be lower.
Speaker 4: You can't ignore his.
Speaker 3: Influence in the global economy, despite the fact that the
Speaker 3: US is trying to prove his independence, so at one
Speaker 3: point he interests really lower.
Speaker 4: It also gives Good more power.
Speaker 3: And the issue we have with bitcoin is the ecosystem
Speaker 3: and the fact that.
Speaker 4: Traditional for US has not put into it.
Speaker 3: You look at important for example, then like you said,
Speaker 3: people like you, people that are really controlled traditional finance.
Speaker 3: Whoever has about teller a thirty four belions in casual
Speaker 3: evidence and it's really not talking about bitcoins.
Speaker 4: So yeah, I think bitcoin is still it's still in
Speaker 4: the stage. But as we don't remarkably well and attracted.
Speaker 3: Influence strategy for adding known as macro strategy, that has.
Speaker 4: For belon bitcoin. His biscoinsta is almost going in close
Speaker 4: to February one thousands.
Speaker 3: So it tells you that corporate finances attracted to that
Speaker 3: asset plans.
Speaker 4: So it makes sense for someone to get you to
Speaker 4: expose your door. Carlo.
Speaker 3: Like you said, it's a very vud so you have
Speaker 3: to fact into concentration. But I think it really makes sense.
Speaker 3: And for me, orange juice, orange juice for that weather,
Speaker 3: what happens with Brazi really influenced Orange juice. You look
Speaker 3: at Lumbard the housing market because the wood place the
Speaker 3: major rule. But men that you anivestors don't really have
Speaker 3: that liquidity to put in those bets.
Speaker 4: So, like you said, ets and commodities makes a lot
Speaker 4: of sense.
Speaker 3: But I think another problem we have is that since
Speaker 3: we don't have that opportunity to invest in those kind
Speaker 3: of exchanges.
Speaker 4: Effects for example, and you don't.
Speaker 3: People can look at Gary Rice, you could look at
Speaker 3: the customer, you can look at so applex is a
Speaker 3: good place to really look at. Lookal commodities and you know,
Speaker 3: like we said, do this year commodity seems to be
Speaker 3: modilt and if you look at it or the five
Speaker 3: spectrum commodities are outdoor equities in padposters.
Speaker 4: You have amazing.
Speaker 3: The gre industries and unsurprisingly you know you look at
Speaker 3: presscool book, look at and took you understand what I'm saying.
Speaker 4: Oh yeah, have an explosion in the.
Speaker 3: Agriculture business is interesting, but it also requires on the
Speaker 3: study about the nality, liquidity and also the risk in
Speaker 3: thesector gotcha.
Speaker 1: If you have a question for for Olimdio, I my god,
Speaker 1: if I wanted my I wanted my economics to also
Speaker 1: hopping out of asking a question on this the Nigerian
Speaker 1: economics on my group and all that, but I wish
Speaker 1: it were helping. If you did have a question, you
Speaker 1: can speak now. If you're Olimia, I'm looking at the
Speaker 1: Nigerian you know, looking at the affects market like you
Speaker 1: talked about Coco last year was a killer cocoa and
Speaker 1: coffee killer. They made a lot of money. Did Nigerians
Speaker 1: participate in this trade? Coco here is on the on affects.
Speaker 1: It's not only making a profit, it's about down zero
Speaker 1: point three nine? Did we participate in this? In this
Speaker 1: cocoa gold mind that happened last year? Did Nigeria take participate?
Speaker 2: What you take.
Speaker 4: It means it was that you're part of the group
Speaker 4: the rally.
Speaker 2: Yeah yeah, then do we enjoy this?
Speaker 1: I mean if you look at the trade report, yeah yeah,
Speaker 1: well coco a little.
Speaker 3: But the thought that just fought like producid the world
Speaker 3: right behind Africas.
Speaker 2: But that thought is like the number one is like
Speaker 2: it's like fifty. They were like, well like well.
Speaker 4: Like to true, very true.
Speaker 3: Yeah, but you guys, is that you know, it's just
Speaker 3: unfortunately Cuckackoo is what we used to build many of
Speaker 3: these stitutions we founded the West.
Speaker 4: Look at the ground operving interesting I past.
Speaker 3: For example, they're doing it a lot in Cuckoa, and
Speaker 3: I'm very interested in seeing how they take that up.
Speaker 4: You know.
Speaker 3: But in terms of our growth exports, we are doing
Speaker 3: very poor as a country, even looking at from our
Speaker 3: visitings from our other fathers. If they wake up and
Speaker 3: see how far we've gone to the culture, I'm sure
Speaker 3: to be very very to be marked down, you know.
Speaker 3: So I think we are not making so much compared
Speaker 3: to what the presidents as US are grow economies bigger
Speaker 3: than Nangers oil industry.
Speaker 4: That tells you how invested there. Despite the fact that
Speaker 4: brass and which.
Speaker 3: Country I think One of the problems we have had
Speaker 3: have been sued is that the people are the cultural
Speaker 3: industry are not attracted people like always in the banking industry.
Speaker 4: So for example, look at the banking industry for example.
Speaker 3: You know, one of the reasons why young people go
Speaker 3: into bank industries is not the fact that it's just
Speaker 3: the servi sceptor the kind of people who see.
Speaker 4: The banking industry, you know, mix.
Speaker 3: A lot of people attracted to the accept or you
Speaker 3: look like they are.
Speaker 4: Growing industry in America, you know by the big names.
Speaker 3: You know, card you for example, you look at what
Speaker 3: they playing in their cultural ac sect, or you look
Speaker 3: at farmers, you know, and the supporting get yeah, we're
Speaker 3: not seeing that we are don't seeing that other.
Speaker 4: People are not talking about our culture.
Speaker 3: And our culture for me is.
Speaker 4: The key components of taking a lot that you're out
Speaker 4: of property.
Speaker 3: Agriculture is the highest temple of label, you know, and
Speaker 3: they have shown that agricultural businesses can be more proof
Speaker 3: people that even the parking Look at Press col for example,
Speaker 3: Press School had the proferic before.
Speaker 4: Of twenty four. I want to try four billion, you
Speaker 4: know from two park that you know in four.
Speaker 1: Remember again I.
Speaker 4: Think one twenty five. We want trying to pour begon
Speaker 4: before the preschool what they made before. You know that
Speaker 4: that's amazing and your standard at people don't see these things.
Speaker 3: So I think we really need and that's why one
Speaker 3: of the things I'm trying to do now is push
Speaker 3: the cultural companis forward. You know, be willing to see
Speaker 3: that there's also money in our culture center.
Speaker 4: Two governments also need to play a key role and
Speaker 4: culture extention officers at their low. I try to speak to.
Speaker 3: Some farmers and asked whether they gets this support form
Speaker 3: and experts government.
Speaker 4: They don't get these things. Sometimes these guys have to
Speaker 4: go agree to low by two kids.
Speaker 3: So we really need government to support and we know,
Speaker 3: to be honest with you, I really can't be before
Speaker 3: government because by the dress Constitution, he's playing larger roles
Speaker 3: and culture and fair government. So I look at the
Speaker 3: projects did by the states. They go to your project
Speaker 3: and culture. But I was really impressed by diestate not
Speaker 3: just increase your and culture.
Speaker 4: Expenses by returns.
Speaker 1: I returns from magazine had this big plus shitting on agriculture.
Speaker 1: Have we seen any results from that?
Speaker 4: Very true?
Speaker 3: You know that we're still doing these but I'm looking
Speaker 3: at where the money is going. But please don't looking
Speaker 3: at returns. I think for me, the day that assure
Speaker 3: returns now is do states. You know, I look at
Speaker 3: press school who they're in a state, and I look
Speaker 3: atwards the oilpam business in ed those states is looking
Speaker 3: at and I was impressed by.
Speaker 4: Once or he did in those states. You know. You
Speaker 4: know some of these club state years to grew.
Speaker 3: You know, they're not food clubs that we call them cash,
Speaker 3: croub and coture. So they have as that for them
Speaker 3: to start being. So I think for me they that
Speaker 3: have really soon opticier in terms of cuckoo.
Speaker 4: I look at the look at them legos.
Speaker 3: We're seeing the infrastructure outside coming and playing in terms
Speaker 3: of warehouse.
Speaker 4: But you know, I expect much better from legals.
Speaker 3: Possipuality in fish farming and rice farming.
Speaker 4: I'm expected to see that, you know.
Speaker 3: But the agreement is that legos iss fine to other states,
Speaker 3: you know, buying farmland and investing.
Speaker 1: Let me give you this number. So I looked at
Speaker 1: the cocoa experts in Nigeria. This is just a wa
Speaker 1: This is quarter three twenty four is the latest we have.
Speaker 1: If you add superior quality coco beans and standard quality.
Speaker 1: If you add both of them together, you get about
Speaker 1: five hundred and seven is that million, I would say
Speaker 1: billion exports from Nigeria for the quarter that's nothing. That's
Speaker 1: zen It Bank makes that maybe on a week on
Speaker 1: the street in Legos. That's really nothing. And that's a
Speaker 1: number one export for that's a number one agricultural export.
Speaker 1: So you have cocoa, you have the butter, you have
Speaker 1: the standard quality, and total total is for about less
Speaker 1: than five hundred billion, right so I mean, and that's
Speaker 1: the largest if you if you go down cashe is
Speaker 1: about forty four billion millions, it's forty four billion. That's nothing.
Speaker 1: And Cashi was it was before Cocoa Surprise went off.
Speaker 1: Cashi was leading. If you go down go to palm oil,
Speaker 1: it's nothing four billion, four one two three four nothing.
Speaker 1: You go down to Legos is doing and there's this
Speaker 1: massive pond in Legos in the e but where they
Speaker 1: export prons to Walmart, King prons.
Speaker 2: Is in Lego, the massive place there.
Speaker 1: But if you look at the export or crabs, it's
Speaker 1: just six hundred and six seven million.
Speaker 2: There's nothing.
Speaker 8: You know.
Speaker 1: Ginger Karuna has Ginger best quoting the general whole world
Speaker 1: six three million, really nothing gom Arabic two point something billion.
Speaker 1: This is the point is that you know, all this
Speaker 1: money we're quoting, all this stuff were closing, this is
Speaker 1: real export revenues and could bring in that aspires away
Speaker 1: from crude oil revenues. We have about number one source
Speaker 1: of about eighty five percent of the money called from
Speaker 1: crude oil. And we have all this stuff. Notings really
Speaker 1: going on there, you know, so I'm not sure what
Speaker 1: they can do. You talk about agricultural extension, folks, but
Speaker 1: cocoa last year and the entire world is nearly ten
Speaker 1: thousand pattern right, coco and is doing just yeah.
Speaker 3: But you know, like you said, larger is the monocle economy,
Speaker 3: no argument about that. We really rely on and its visus,
Speaker 3: no argument about that. But the realize is that we need.
Speaker 4: To starve somewhere, you know, we need to. We need
Speaker 4: to so we make a lot of sense.
Speaker 3: I know, for example, all these agricultural pudos they have
Speaker 3: you to impact on the that you know, I don't
Speaker 3: see them up being expanse.
Speaker 2: Because you're so low. They should help because you're so low,
Speaker 2: that's what.
Speaker 3: There's no impact but yeah, but the impact is that
Speaker 3: you know, the the huge rule in our lip of force.
Speaker 1: You know, the to.
Speaker 4: And culture is the largest of liople.
Speaker 3: So I believe that if we can expand our sectal
Speaker 3: if people understand that, oh you I Group Companical make
Speaker 3: one hundred billion nine and you are introduced natural you know,
Speaker 3: this is an do state, this company not the girls
Speaker 3: papers company.
Speaker 4: You know, it really tells you that there's money to
Speaker 4: be made in this country. I think I think that's
Speaker 4: where we need to start setting. And that's why I'm
Speaker 4: so happy.
Speaker 3: About the stock market, because it's really really so many
Speaker 3: companies that people really don't see opportunities in Andrea and
Speaker 3: for you, I think if we can break into that culture,
Speaker 3: if the president can reduce his number of ministries to
Speaker 3: maybe fifty, not petty who comes more agriculture, electricity, education.
Speaker 4: Held Calu by deciding he is running for election again,
Speaker 4: even his critics will both you see. You know, I
Speaker 4: look at the book launch, you know, even it's.
Speaker 3: Not financial matter that I look at it as I
Speaker 3: look at the the journeys so far, you know, not
Speaker 3: something Yeah, it's not something to be happy about.
Speaker 1: Were comman to speak, give you us this last. That's
Speaker 1: a point where I bring on confidence. That's it's our
Speaker 1: tradue to West Africa.
Speaker 2: The bulk of our.
Speaker 1: Tradue to West Africa is on petroleum, so crude oil
Speaker 1: and all that. Then we also export electric electrical power
Speaker 1: to Nizia and.
Speaker 4: To to maybe the guys in the West coast.
Speaker 1: So the bulk of our exports is crude oil and
Speaker 1: oil petrol to West Africa. We also export power supply,
Speaker 1: don't laugh. We export power supply to West Africa. Then
Speaker 1: we also export coco But guess what we import from
Speaker 1: West Africa. We import the same petroleum bitter men. Then
Speaker 1: we import aviation fuel. Then we import cocoa powder. So
Speaker 1: we used to cook powder to add as a sweetener
Speaker 1: for our own cocoa. We're important Nigeria from I could
Speaker 1: the world organa. It's our ted largest import from West Africa.
Speaker 1: Number one is patroon bit men, which we have no
Speaker 1: But two is aviation spirit which we have. That go
Speaker 1: is exporting aviation fuel to the US, but we're importing it.
Speaker 1: Number treat is cocoa powder. We have cocoa, but we're
Speaker 1: important the powder. Number four is macrel, the fish for
Speaker 1: Mamabi sism, mister Marput. We're important that fish and number
Speaker 1: is our fourth largest import from West Africa. It's big
Speaker 1: money's five billion, five bills five but we have the
Speaker 1: fish here. Then number number.
Speaker 2: Five is parm oil.
Speaker 1: The part of working is this right. Everything that we
Speaker 1: import from with North America is just from West Africa.
Speaker 1: Everything we import from West Africa. If you add the
Speaker 1: two thousands of bait from port, twenty billion, water biting
Speaker 1: men evasion, a few fourteen billion, cocoa, eight billion, macrel,
Speaker 1: five billion, palm oil, palm oil we import palm oil
Speaker 1: four billion. If we can't even control West African treat
Speaker 1: I don't see anybody important potatoes to America or orange
Speaker 1: to America.
Speaker 2: I mean they have enough.
Speaker 1: But if we can't even break this West African tree,
Speaker 1: the more important palm oil cul bit to men an
Speaker 1: Imbasi spirit.
Speaker 3: Like I said, our agriculture ministry and the government points
Speaker 3: towards agriculture and salutation.
Speaker 1: It's one of the exactly, let's get the experts there,
Speaker 1: let's get confident. I think compliens is a trade complience.
Speaker 1: It says you are a trader or commodity.
Speaker 5: Is that what you do?
Speaker 2: Getting that right or wrong confidence.
Speaker 4: Yeah, thank you mister.
Speaker 9: So you think I'll just apply a brief introduction if
Speaker 9: I've had about ten years over a decade experience.
Speaker 6: In our culture.
Speaker 9: I started with technology and culture providing spray precision technology
Speaker 9: drones to spray most of the largest farms in Nigeria.
Speaker 9: Not to call most of the name, but any name
Speaker 9: of anyone you've known, from the religious mind Africa to
Speaker 9: every other person, both the Indians and the West.
Speaker 4: We've sprayed the farms and.
Speaker 9: Over those years, there's something that was very critical for
Speaker 9: me as a farm.
Speaker 4: Of one of the most popular yes we have in Nigeria.
Speaker 9: They have they have our ten thousand actors in Nastraea
Speaker 9: and their farm the farming of fifty paces of that
Speaker 9: land and was just providing a little above ten percent
Speaker 9: fit stock to their meal. So the we say having
Speaker 9: issues of we weren't getting you.
Speaker 4: Know, raw paddy to the meal.
Speaker 9: And we had small older farmers that can actually provide
Speaker 9: those paddy and increase their the milling capacity to at
Speaker 9: least eighty percent. But the problem we're having in Nigeria
Speaker 9: is the supply chain gap between deep processors.
Speaker 2: And the farmers.
Speaker 9: The farmers are two. I made that switch Intoway three.
Speaker 9: I said, you know what, we're actually producing so much
Speaker 9: that we are not seen because I'm working.
Speaker 4: For the big guys.
Speaker 9: We also have a program for these smaller guys. The
Speaker 9: guys have one hector's two actors. And I will tell
Speaker 9: you I got to a village in Bidder and the
Speaker 9: amount of rise these guys we're farming was in the
Speaker 9: excess of thirty thousand hectors. That's a combined village. And
Speaker 9: they know I was the first. Should I say none,
Speaker 9: Should I say a community or non individual that build
Speaker 9: after the community, And I mean it got me thinking,
Speaker 9: why are we wasting so much and important when we
Speaker 9: have a whole lot of people that are doing this
Speaker 9: on our own side, but they are nowhere to be found.
Speaker 9: That's how I started continual commodity, you know, linking males
Speaker 9: to the old farmers where we are more like the
Speaker 9: trust in.
Speaker 4: Between those two people.
Speaker 9: Because they bigger guys cannot just go and the enter
Speaker 9: into the UK community as out of flooding products bits rice,
Speaker 9: maize and the rest so they can process.
Speaker 4: They want to give help you.
Speaker 9: They want to know everything by the books and the
Speaker 9: Homers don't want to do that.
Speaker 1: Gotcha? So question and if you're I want to ask
Speaker 1: us when you come to the board, in your own
Speaker 1: mind or in your own statistics, do you think the
Speaker 1: food output in Nigeria is up or down?
Speaker 2: But continue just want I don't want to forget that
Speaker 2: question for you.
Speaker 9: So the food I was putting Ninjia based on the
Speaker 9: experience I've had in the last twenty four.
Speaker 4: On is up. Do you know we actually have people
Speaker 4: from Cameroon and they're coming to Nigeria.
Speaker 9: When you said today's world we're in in February, from
Speaker 9: June July August, you see so many foreigners coming in
Speaker 9: trucks to be living, to go to trucks, be living
Speaker 9: at the moora trucks, to be living even the water
Speaker 9: on Borno trucks, be living caliber in fact.
Speaker 2: So they're coming here to buy or to farm.
Speaker 9: Yes, they are coming here to buy and pulling out.
Speaker 9: Now we don't have and you know what these funny
Speaker 9: things that these guys do. They buy our products from
Speaker 9: our farmers have produced this quantity that we daily need.
Speaker 9: They take it to a warehouse just within the border.
Speaker 4: And guess what by the.
Speaker 9: Time we reach is November December January, we come back
Speaker 9: to them and start buying together closely high priced. That
Speaker 9: is why we have the dry season scarsty and high prices.
Speaker 9: And some Nigerian started doing it themselves. The US buy,
Speaker 9: go to work and we get all those farmers you
Speaker 9: know buy one million tons. They go to the wearhouse
Speaker 9: and back, which they didn't Najer say, Governor last year
Speaker 9: was you know, was.
Speaker 4: Clamping down all of them. But now the problem is not.
Speaker 9: I mean, economics is simple. Once as they demanded to
Speaker 9: be a supply and people who always use the economic
Speaker 9: skill at the advantage by buying the whole longer have
Speaker 9: equality on their hands and wait till there's no more supply.
Speaker 9: And once there is no more supply, price croket. I mean,
Speaker 9: last year, with surprise of rice, go from we supplied
Speaker 9: rice to most of the popular meals at funders sixty
Speaker 9: thousand per pon but guess what every week it was
Speaker 9: adding five percent, then it jumped to twenty percent, jumped
Speaker 9: to thirty percent. Fint age, you're selling as almost nine
Speaker 9: hundred thousand air pattern and it happens across all commodity train.
Speaker 9: So the most important thing for us is if you
Speaker 9: have to look at a major consumption. Right, we have
Speaker 9: rice paddy, we have cooking oil.
Speaker 4: Now, one sweet thing.
Speaker 9: About cooking oil is cooking oil is also going aside
Speaker 9: from bleaching palm oil. You know the there's a knots
Speaker 9: for once you process the palm oil from the pank canal,
Speaker 9: there's a hat shell once you can't the hat shell.
Speaker 9: There's what they call it pank canal nuts. It's just
Speaker 9: like coconut were small seed. They also possess that to
Speaker 9: cocaine oil. There's a completely better here. Also the customer
Speaker 9: us that we supply that to like with that you
Speaker 9: have very low cholesterol, very good for the health. But
Speaker 9: most of our palm oil supply chain is not even
Speaker 9: app I mean.
Speaker 4: If I don't have the food.
Speaker 9: That But for example, we have let's say million hectares
Speaker 9: of palm oil trees in Nigeria. We are happening let's
Speaker 9: say a hundred a thousand of it. That's the tell
Speaker 9: you did deficiency that we've had in the last eight months.
Speaker 9: I mean then that sound is a south south and
Speaker 9: I saw pump trees that are just wasting, like particularly wasting.
Speaker 9: No one is coming to buy them and I'm like,
Speaker 9: you know what, I don't know build the largest have
Speaker 9: already finding meal. I don't own any farm because I
Speaker 9: mean the the palm trees.
Speaker 2: Are a lot.
Speaker 9: I'll building power finding bill and tell this substenance family
Speaker 9: because usually they're always owned by you know, family members
Speaker 9: and community. And it's a whole lot, a whole lot
Speaker 9: in most has if it was has a has a
Speaker 9: land master. Let's say two hundred thousands cremator about between
Speaker 9: one twenty or one ten discovered.
Speaker 4: With palm trees.
Speaker 1: You said you set output is off right, but the yes,
Speaker 1: the end this is saying that the money we make
Speaker 1: from these things are nonsense.
Speaker 2: And like I also puted it figures for you quarter. Yes,
Speaker 2: So where is it this connected? Quartactly? Why important this
Speaker 2: part where you see black.
Speaker 1: Coming to buy about out four point one four point
Speaker 1: four billion work of palm oil, This is just quot
Speaker 1: to be alone, just to work in Africa.
Speaker 2: I'm mostly, well, so where did this connect? You said,
Speaker 2: it's palm oil in the.
Speaker 1: Village, but we're exporting part is expensive in the market.
Speaker 2: It's all this jointed. What's going on?
Speaker 4: So the problem is supply chain, right, we have a
Speaker 4: whole lot of people.
Speaker 9: That every day they wake up and they're seeing these
Speaker 9: palm trees in front of them. And you have a
Speaker 9: generation that did this as a business that the next
Speaker 9: greasure has not did not even take it as a
Speaker 9: very important business to actually engage in. So I'll give
Speaker 9: you a community in in mostly that we started with
Speaker 9: last year Inamiable in Inmo States. Do you know that
Speaker 9: all the trees that they had around them, they had
Speaker 9: about four thousand, had fifty palm trees each month susperma
Speaker 9: tries produced every three months depending on the age and
Speaker 9: the west. So doing the pig pos from now February
Speaker 9: that they always have vest a minimum minimum of one
Speaker 9: fifty trees maximum.
Speaker 4: The highest they've ever.
Speaker 9: Done, like in the last five years is.
Speaker 4: One thousand and two.
Speaker 9: They're out of four thousand and fifty.
Speaker 4: And the question is, I mean, why are you.
Speaker 9: Not investing this thing and you know, creating the wll
Speaker 9: of value for yourself. I mean this money that is
Speaker 9: hanging and they're like, oh, that's whenever the meal, they
Speaker 9: take it to the market, local market.
Speaker 10: And they sell.
Speaker 4: So whenever the mail. Within the video, I say that
Speaker 4: you know, fifty jerkan, which is the.
Speaker 9: Maximum sometimes twenty a week, and I'm like, man, this
Speaker 9: is not to work into the market oxactly.
Speaker 1: I'm just hearing that, you know, I hear you just
Speaker 1: when it gets Cyrus to speak, I'm you know, it
Speaker 1: doesn't make sense to me how the same nation can
Speaker 1: make a lot of output then export a lot, import
Speaker 1: a lot and still has supply chain issues. I mean,
Speaker 1: everything is It doesn't make you know, I mean number
Speaker 1: some mbs so that may be more, you know, Cyrus,
Speaker 1: what's your take on this?
Speaker 2: Cyrus?
Speaker 4: Hi, thank you so much, Calu.
Speaker 11: I really I quested for the mic going you know,
Speaker 11: lumited butt of the conversation around agriculture, and I do
Speaker 11: acco with you.
Speaker 4: It doesn't really make most sense.
Speaker 11: And yes we have something a cultural put doos that
Speaker 11: we have like huge outputs for example, and your had
Speaker 11: any issue like in terms of cassava production in this
Speaker 11: country you are the largest produce of cassava Souf South
Speaker 11: Africa and other things like that tomatoes on your project
Speaker 11: was even a right like our food cups right. But
Speaker 11: the other things that I would say that we are
Speaker 11: not doing as much as many stakeholders or even the
Speaker 11: government themselves. Us belief like the rise the malid amaze
Speaker 11: of the wheat so and those are details that we
Speaker 11: find ourselves important of putting restitution on importation and driving
Speaker 11: of price. And what it is interesting to the conversation
Speaker 11: and inflation is that when the ABS came out the
Speaker 11: last I think last week, and it got out a
Speaker 11: new tweaked data, you know, by their own methodology, expanding
Speaker 11: the indusy the indices of inflation figure to include energy,
Speaker 11: to include the important food items and other things like that,
Speaker 11: just to make it look moderate and stuff. I made
Speaker 11: a statement and I made a comments on certain progum
Speaker 11: that look, that's not our problem, and your inflation is
Speaker 11: doing by two major things right first and for most
Speaker 11: government ESSs spending right.
Speaker 4: Nagiera has been so.
Speaker 11: Used to expansive deficity to the point that we never
Speaker 11: have any conversational and balance budget anymore. It may interest
Speaker 11: people to know that why we're fighting the civil war
Speaker 11: in this you know, in sister self states.
Speaker 4: We were even we had balanced budget.
Speaker 11: Right because the personal the m of our fair at
Speaker 11: that point was very very fulger about you know what
Speaker 11: exactly is the polity for the government and almost.
Speaker 4: Be allocated for what and whatnot?
Speaker 11: If you are not serious about reducing your deficity or expenditures,
Speaker 11: and you're just spending as much as bringing in three
Speaker 11: for example, turned to Nandia had a spot in its
Speaker 11: revenue collection due to more soucidy and was it good
Speaker 11: efforts evaluation?
Speaker 4: Right, But that does more reflect.
Speaker 11: In our deficity, our deficity spanding if you look at it. So,
Speaker 11: but if you don't fix that, and while you do
Speaker 11: strict the figure, you are not helping yourselven number one.
Speaker 11: You are not helping the number two, which is you know,
Speaker 11: doing all it can to tighten the systems that there
Speaker 11: will be less money supply and will be less bugging,
Speaker 11: you know, perscribe to the government. The second thing which
Speaker 11: Alumeda mention, which I think it's you know, very important
Speaker 11: of this conversation.
Speaker 4: Is agriculture output.
Speaker 11: Your alumna says something about our culture contributing about.
Speaker 4: Twenty sixty seven percent our GP.
Speaker 11: Absolutely, yes, that's always been that case for decades now, right,
Speaker 11: But if you look at the the quarterly increase or
Speaker 11: the quarterly growth of our culture, it does not exceeded
Speaker 11: one point twenty percent. In other words, it's just even
Speaker 11: though a lot of activities going on in the sector.
Speaker 4: It is more growing. It is not as funny compared to.
Speaker 11: Things like bang game service ticals and others like finance,
Speaker 11: but it's contributed a lot of players.
Speaker 4: They love you know, jobs, There.
Speaker 11: A lot of you know informer sectors, there are whatnot.
Speaker 1: But it is not good.
Speaker 11: It is not you know, having any kind of good. Right,
Speaker 11: so it's always around one point one one point two
Speaker 11: there about good every quarter.
Speaker 4: You can check it. So if the government is.
Speaker 11: Serious about getting inflation, you know, moderating inflation.
Speaker 4: It should not be about two king data.
Speaker 11: It should be about doing what they can and us
Speaker 11: an Adelian country to increase supply. We are now increasing supply.
Speaker 11: Let's not deceive ourselves. Yes, and things are going on. Yes,
Speaker 11: there are more players there years. There are a lot
Speaker 11: of you know people participating in that sector, whether you're
Speaker 11: talking about livestock or cash good or recover but whatnot
Speaker 11: across evolution. But in terms of good, in terms of investment,
Speaker 11: in terms of campuital have been doing to that sector.
Speaker 4: It is more happening, right, So the governments need to
Speaker 4: take that seriously.
Speaker 11: First and foremost that you drive down food prices, to
Speaker 11: drive down cost of food like which also have fact
Speaker 11: on inflation. Secondly, just diversify our export and our You
Speaker 11: mentioned something about the train as are playing the cocoa industry,
Speaker 11: as are playing in the palm oil and others. These
Speaker 11: are things that we should be taking advantage of. You know,
Speaker 11: low hanging food is taken advantage of instead of focusing
Speaker 11: on oil because oil is exupposed to you know, global
Speaker 11: global factors, like you know, when it comes up, it
Speaker 11: goes down, whatever does, whatever your doors and want. But
Speaker 11: these are things that you can be taken advantage of,
Speaker 11: like ghana ganna for example, Cocoa is like the primary
Speaker 11: source of efforts for them, not oil.
Speaker 4: So these they have more than we do each other.
Speaker 11: We're forsaking that part and we're not bringing love to ensure.
Speaker 4: You know that with the first for our exports. I
Speaker 4: hear you.
Speaker 1: But that's the question in terms of the mbs that
Speaker 1: are changing for you, if you're a business model changing for.
Speaker 4: You, absolutely no. I think it's a it's a noon daylight.
Speaker 11: And I think it's very unfair to people who actually
Speaker 11: chose them as some authority to provide, you know, some
Speaker 11: kind of integrity and independence of government interferers. But to
Speaker 11: what they are doing recently with all the old manipulation
Speaker 11: of data. I only need to look at is that
Speaker 11: even if you there are two things that you said
Speaker 11: the consider in the change of in the change of
Speaker 11: the figure. The first one is proximity in terms of
Speaker 11: all the yeend that just regarded as the basic as
Speaker 11: well as the methology they use, like what are the
Speaker 11: indicators that are considers? Are the two main major things
Speaker 11: that give their twenty four percent. Now if you look
Speaker 11: at those two things our day, you know, our day
Speaker 11: positive like as surprises drop fundamentally you say ten percent
Speaker 11: right as a fundamental job from enter the port twenty
Speaker 11: five right from forty five as that happened. So you
Speaker 11: have to be lying to come up with that kind
Speaker 11: of figure. So and the industries that you are using,
Speaker 11: like energy, important, food and work most they are not.
Speaker 4: They are they're not really so to speak. So they
Speaker 4: have not really to those.
Speaker 11: I mean the NPAH how they come up with this figure.
Speaker 11: It's just a way for them to like do some
Speaker 11: kind of cosgress. And one of the things I read
Speaker 11: that the reason why they're.
Speaker 4: Doing this is that it's one of those indices.
Speaker 11: That international communities creditors and letting against is considered to
Speaker 11: assess the controul that they are they are viable for
Speaker 11: certain loans and credits or not, and you know maybe
Speaker 11: like inflation might help them in that regard. So they
Speaker 11: just want to look good, you know, to the intertional community.
Speaker 11: And I don't think that we open a long gold
Speaker 11: because it just want more.
Speaker 1: Okay, I'm going, I'm I agree with you. They are
Speaker 1: should we say cooking incess? They are massaging the books
Speaker 1: to yeah, they are, but it will.
Speaker 4: It will do two things.
Speaker 11: First and foremost, it will make the very objective of
Speaker 11: which using inflation, you know, it will make it to
Speaker 11: make the government lacks Number one about you also forfeit
Speaker 11: or defeat the very objective or mandate of CPR to
Speaker 11: open up liquidity and your money supply keep increasing and quatrely.
Speaker 11: If you look at the guys over one and something's real,
Speaker 11: you now, I keep increasing that. So if this, if
Speaker 11: the CIBN, you know, goes back on its mandate to
Speaker 11: cope that inflation, I pleasure by you know, having a
Speaker 11: Douvish view or dovis stand. It's going to affect how
Speaker 11: much has been born without that going to offend money
Speaker 11: supply and end up compounding inflation.
Speaker 4: So they're actually doing it very very bad work.
Speaker 1: All right, let's see what happens in the coming months. Right,
Speaker 1: let's hang on there other. Let let's get Ilian, Ilian,
Speaker 1: what's in your mind?
Speaker 5: You you you are?
Speaker 2: Yeah?
Speaker 12: Go for it?
Speaker 13: Okay, Yeah. I think I've said the several species, and
Speaker 13: I've also heard cyrus alsociate it on a species. The
Speaker 13: the inflation on values NBS has given us. It's not
Speaker 13: corresponding to the reality on ground. And you know, for me,
Speaker 13: I don't think they manipulated any figure. I feel like,
Speaker 13: you know, they played a smart one.
Speaker 12: They just looked at different parameters and they saw which
Speaker 12: won't give them the best outcome.
Speaker 6: Say in using the busy as twenty twenty four, and
Speaker 6: I think on other spaces. Come to check top countries
Speaker 6: in the world.
Speaker 12: For example, the US system uses the busy of nineteen
Speaker 12: eighty something, or it's in something it's won't.
Speaker 6: Very five year. I checked Germany.
Speaker 12: Germany still use this twenty fifteen as busier. France till
Speaker 12: use twenty fifteen as peace. Yet several countries toill use
Speaker 12: this thing as busier, and they are still in single
Speaker 12: digit inflation levels. So and when I listen to those
Speaker 12: people through government, people who talk, they tell you, oh,
Speaker 12: this is the year twenty four was just the best
Speaker 12: day if we had put it less than twenty twenty four.
Speaker 6: We're coming out of COVID nineteen.
Speaker 12: Now you're seeing other countries they know, go through the
Speaker 12: COVID nineteen issue.
Speaker 6: And some other people were.
Speaker 12: Telling me that was when we singles renew Hope Man
Speaker 12: did started. So twenty twenty four is like the best
Speaker 12: day of selcidies were out. So that is when twenty
Speaker 12: twenty four was just the best day to pick and
Speaker 12: someone and so forth. It doesn't make sense to me
Speaker 12: at all. It doesn't really make sense to me. And
Speaker 12: instead of you're thinking of and three king figures to
Speaker 12: give you the best good chances of getting over, why
Speaker 12: don't you give something that is realistic so that we
Speaker 12: can sit down, dig our hands and put our hands
Speaker 12: together as a country and look for how best to
Speaker 12: measure these inflation levels?
Speaker 4: Come down?
Speaker 12: Now, your inflation levels went ten percent. Your MPR is
Speaker 12: no movie. Please correct me if I'm wrong, But the
Speaker 12: MPR has not changed. It means that I do not
Speaker 12: trust decipient does not trust the values out there. They
Speaker 12: do not trust what they call it the cost of
Speaker 12: food and production out there, and so on and so forth.
Speaker 12: So for me, I would not believe this result until
Speaker 12: I see very decisive steps by the government to cut
Speaker 12: down their spendings by the government to ensure production, mainly
Speaker 12: in agriculture, to ensure that you know, we are we
Speaker 12: are also exporting, proving our export levels in the country and.
Speaker 6: Several other parameters.
Speaker 12: Recipient also making some very very strategic plans.
Speaker 6: Also, even though I.
Speaker 12: Must confess that they have been doing quite enough, quite
Speaker 12: a lot, Sibyan as you're doing quite a lot for
Speaker 12: you know, government spending agriculture is something that is having
Speaker 12: problem because and I remember lastly, I would all say,
Speaker 12: I remember Cargo, I told you this that I still believe.
Speaker 12: I know you will not still agree with me, but
Speaker 12: I told you that I still believe that we should
Speaker 12: have subsidized one of these industries like the agricultural sector.
Speaker 6: I help also complaining.
Speaker 12: Of how in the rural areas we have familiar but
Speaker 12: we're still exporting importing billions of news or is it
Speaker 12: dollars of pamoil to this country. The how supply chain
Speaker 12: is the issue when people look at how much it
Speaker 12: will cause for you to bring it down from whoever
Speaker 12: to this place to that place, you start asking yourself
Speaker 12: this is worth is so?
Speaker 8: Yes?
Speaker 12: I know that there is this lockdowns of get into
Speaker 12: the van and so on and super priss.
Speaker 6: They feel like we need to work on our.
Speaker 1: I agree with you, and I first agree with you
Speaker 1: that we should subsidize food. We should subsidized food. There's
Speaker 1: nothing see, there's nothing wrong with subsidy, just that the
Speaker 1: world subsidy is now with dirty what Nigeria because we've
Speaker 1: made it so. There's not a wrong in PMS subsidies.
Speaker 1: There's not long in food subject. The problem that was
Speaker 1: when we ran in the past we could not afford it.
Speaker 1: We can't afford the food subsidy. Sorry PMS subsidy, I
Speaker 1: mean we couldn't afford it. Now that we have removed
Speaker 1: the subsidy on PMS, I would have thought that the
Speaker 1: players just take a quarter of that money and subsidized food.
Speaker 1: If he had done that, he won't be getting more
Speaker 1: of this beat is getting if food. If he had
Speaker 1: taken the money he got from the PMS subsidy removal
Speaker 1: and just taking a quarter and just important even if
Speaker 1: it's just rice alone. He imported our rice was sell
Speaker 1: it for ten thousand ner a bag. He won't get
Speaker 1: any blue back is getting he wouldn't but you know
Speaker 1: that living.
Speaker 3: Sorry and give us look so yeah, I totally agree
Speaker 3: with you, but most sometimes I tried to look at
Speaker 3: that type why that way?
Speaker 4: So you know we're coming from it in.
Speaker 3: A case where we substas etricity, substance educational with subscie FX,
Speaker 3: we subcisees, pay true and now please a part in
Speaker 3: some sectors that there are still talking about. And the
Speaker 3: government is trying to librialize justice because the matter is
Speaker 3: that first they were trying to stabilize the mirror and that.
Speaker 4: Came at the cost. You know, you are forgetting that
Speaker 4: the treasure us. You are getting.
Speaker 3: Atpressives, we say, and this means the Borough governments is
Speaker 3: boring at in perium. So we need to look at
Speaker 3: the fact that we're coming from a time of mismanagement
Speaker 3: and things need to be adjusted. My problem with the
Speaker 3: government is that they are immune to the reforms that
Speaker 3: they're created. They are created by immune to reforms they
Speaker 3: are created. They don't look like they are solfaing. They
Speaker 3: don't look like they are cut in their courts. They
Speaker 3: don't look like they are part of the problem. And
Speaker 3: also trying to shoot the nagers because you can't help someone.
Speaker 4: You can't tell your child that you have eat in
Speaker 4: the afternoon. And this is you that I won't buying
Speaker 4: footing party, you know.
Speaker 3: So that's the problem calling because there's no money anywhere
Speaker 3: wherever we go to get the money for If you look.
Speaker 4: At that budget, look.
Speaker 3: At goodment revenue, look at wherever I look at I'll
Speaker 3: looking at that.
Speaker 4: I hope I able to print money to.
Speaker 2: Where are they printing? Answer?
Speaker 1: Were printing again? Anyway, Let's go back to the point
Speaker 1: I'm making. I'm going to ask so killer, I hear
Speaker 1: see you, speaker, So let me go back to the
Speaker 1: point I'm making. When you remove subsidy, it's a revenue event.
Speaker 1: It's a revenue event, new revenue. If you take away
Speaker 1: subsidy from PMS imports, what you do. What you've done
Speaker 1: is that money has flowed to CB and it's a
Speaker 1: revenue event. Now what did they use the revenue for?
Speaker 1: If you look at the first sharing after the after
Speaker 1: the subject was removed, they took fifty percent and they
Speaker 1: put in the phone it's called infrastructure of something. I
Speaker 1: don't know where that money is today. Then I won't
Speaker 1: discussing giving Nigerians eight thousand camera. But it was eight
Speaker 1: thousand married webon discussion giving Nigerians. It was the whole
Speaker 1: shout that made them say, okay, we're going to increase this,
Speaker 1: do that. Then when they did not became worse, they
Speaker 1: shatter became worse. They had when we had the public demonstrations,
Speaker 1: they said, okay, we're going to pass asap the celebrated
Speaker 1: Strategy Plan and all that. Right asap said we're going
Speaker 1: to subsidize food. We're going to subsidize plane of land,
Speaker 1: We're going to subsidized fertilizer. But even as we're doing that,
Speaker 1: we're going to import food. This is the government's own plan.
Speaker 1: We're going to import food because we understand that food
Speaker 1: is fifty seven percent of the average Nigerian's households spend
Speaker 1: five seven This does what nbas is going to be more.
Speaker 1: How you know, a poor country, they spend more on food.
Speaker 1: So the governments that are going to subsidize till today,
Speaker 1: this was June of twenty twenty, they've not done it.
Speaker 2: So this is the words.
Speaker 3: That the fact that the soized food farmers.
Speaker 4: We lose your choice.
Speaker 2: But look about but today's okay, there's a farmer here.
Speaker 1: I mean all of the that's this was the same
Speaker 1: point that Buhari said, right, so he closed the borders
Speaker 1: that said the farmer should supply food. But we all
Speaker 1: know you cannot. You can't take tomato, don't deliverly brought
Speaker 1: a mango processing plants named in Benue States. If you
Speaker 1: go to Benue, you see mangoes on the floor wasting.
Speaker 1: Don't went there and built the mango persian plant. He
Speaker 1: couldn't get raw materials to make mango. No roads from
Speaker 1: the village. Dan Goot has a tomato processing plant in
Speaker 1: Canoe More, the largest in Southern Africa. They could not
Speaker 1: get tomato. Why no roads from the village to the
Speaker 1: plant in Tomato. Legos has the largest rice milling plants
Speaker 1: in Southern Africa. No rice party. You can go on
Speaker 1: with anywhere you see. The largest manufacturing plant is in Nigeria.
Speaker 1: But no supply. There are no roads, There are no rails.
Speaker 1: If you got to buy villages everywhere by village. But
Speaker 1: if if you go from by village to even apart.
Speaker 1: Your motcycle will go bad. These roads are not a
Speaker 1: are not there. So this cost that's what it is
Speaker 1: complet just to the costs to take goods.
Speaker 2: From the village. Ready farmers are making the stings.
Speaker 1: To the way it is processed, it's non existent. If
Speaker 1: you come to the States, every farm you see a
Speaker 1: silo and there's always in rail track. Where I live,
Speaker 1: it's near whatever. They have a big, huge, huge farms.
Speaker 1: They have a railway point there they have silo. So
Speaker 1: there's a process to take output to the silos and
Speaker 1: then they're trained to be processed.
Speaker 2: We don't have it in Nigeria.
Speaker 1: From nineteen ninety nine, we have been building the legals
Speaker 1: to it bag Express Rood.
Speaker 2: I just thought to you that because the.
Speaker 1: Teleble has given new money to expand the road, this
Speaker 1: same road from nineteen ninety nine till today twenty twenty
Speaker 1: five has not been completed. Even Ghana, even Ruwanda cannot
Speaker 1: take twenty five years to build. I don't know, I don't,
Speaker 1: I don't. I don't want to compete there. And I
Speaker 1: hear your pin that was advocates.
Speaker 2: I hear you. I hope there was advocate and not
Speaker 2: supporting it. I don't think there was advocate.
Speaker 1: But when're moving too slow and they said they would
Speaker 1: subsidize food, I didn't say it. They said they would
Speaker 1: subsidize the food. They didn't subsidize the food. Go on
Speaker 1: price rights. Today I was in Nigeria, a plital price
Speaker 1: one is like cepher You can't understand what's going on.
Speaker 2: Food is so expensive. How can you do anything if
Speaker 2: you can't eat? Food? Is national security? If America today the.
Speaker 1: National security it's if there's no food today, police cannot
Speaker 1: stop anything that's gonna happen.
Speaker 2: If people cannot eat, what would they do? Will they
Speaker 2: kill themselves?
Speaker 4: It's a market, Like I said, I was telling to
Speaker 4: my friends that if you spend.
Speaker 3: Less of food the CAPT market, leave for investors for
Speaker 3: the CAPT market to improve, because.
Speaker 4: Your spends on food with your food cal.
Speaker 3: That's a looney.
Speaker 4: Look.
Speaker 1: There's there's the reason White post petitioners give rise and
Speaker 1: not books to elections. There's the reason why they keep
Speaker 1: they give rise and America don't won't give you a rise,
Speaker 1: they give you a phone, they give you whatever. Because
Speaker 1: here it's not food.
Speaker 5: YEA.
Speaker 12: The government that arguing that they have reduced because for example,
Speaker 12: the bag of things right now, I.
Speaker 2: Think because of harvest of harvests got the of.
Speaker 6: Course, of course, but they don't tell people that.
Speaker 12: They're just printing that, oh, this is our renewed whatever
Speaker 12: that has blots, the bag of flies and so on
Speaker 12: and supper.
Speaker 6: So I just hoped mys are smart enough to see
Speaker 6: all this.
Speaker 2: Okay, let's let me get kill a killer. You gotta
Speaker 2: have the killer, please go ahead, killer clear, that's clear?
Speaker 4: Thank you, okay, thank you.
Speaker 8: Look, so I'm quickly want to touch on certain things
Speaker 8: that people.
Speaker 14: Have I've touched on unusual about the rebasing methodology and whatnot.
Speaker 8: I would disagree that it actually makes us.
Speaker 14: Look better, per see, because come on, at twenty four percent,
Speaker 14: it means.
Speaker 8: That prices that are doubling what every three years?
Speaker 14: Yes, at thirty six, thirty five, at six percent, it
Speaker 14: means prices were doubling every two years or so. So
Speaker 14: the thing is it's, yes, from thirty six to twenty
Speaker 14: four percent looks like a drop, but in reality it
Speaker 14: means that your iry is being devalid every three or
Speaker 14: two years.
Speaker 8: So the thing is, it really does need to make
Speaker 8: us look good.
Speaker 4: Now, of course, when you.
Speaker 8: Look at the waiting.
Speaker 14: It clearly doesn't make sense that you are putting as
Speaker 14: got chat what is not so important and five percent
Speaker 14: of the opportunity.
Speaker 8: It's it's it was us. It's also ridiculous.
Speaker 14: If you look at empirical studies done by both loan companies,
Speaker 14: academics and whatnot in Nigeria, you find out that Nigers
Speaker 14: spend sixty sometimes it wills over sixty percent of the income.
Speaker 8: I know you're saying fifty seven percent is even more
Speaker 8: more more the blowing.
Speaker 14: Studies I've seen, it's it's closer to about sixty percent.
Speaker 8: Or even more than that.
Speaker 14: The nigron are spending on full the loan. So the
Speaker 14: question I ask yourself is how do you use them
Speaker 14: as a country or as a government. Then with the
Speaker 14: basket of goods that the typical ndum pies and put
Speaker 14: like a third of the waiting on, it just just
Speaker 14: smacks of being unrealistical. And everything is like the same
Speaker 14: thing with the unemployment statistics, where somebody working is there.
Speaker 2: Not world one one one hour a week? You're employed.
Speaker 8: Exactly when I with you are employed.
Speaker 14: So basically that means that if my manner tells me
Speaker 14: that as you look at his at his show every afternoon,
Speaker 14: so that he goes to pick his child from from
Speaker 14: public school. It means that I'm employed. That's literally what
Speaker 14: they're trying to say. So so, and of course it
Speaker 14: would despire that you still see that our unemployment is
Speaker 14: worth five percent. If if five percent of the population
Speaker 14: cannot get one hour of.
Speaker 8: Paid work, you have a crisis going on.
Speaker 14: And I bet it if they adjust into the previous methodology,
Speaker 14: which makes more sense, you probably get unemployment of twenty
Speaker 14: thirty percent, which is which which is crisis level, which
Speaker 14: I explains a lot of the.
Speaker 8: Insecurity we have today.
Speaker 14: You can put as many police officers as you want.
Speaker 14: If a lot of young people don't have jobs, there
Speaker 14: will be a lot of crime and socio economic problems
Speaker 14: going on.
Speaker 8: And of course we have seen how that is playing
Speaker 8: as in the country with.
Speaker 14: The drugs crisis and the other things that are getting
Speaker 14: So the thing is it just marks of a lot
Speaker 14: of funny, anky pankey.
Speaker 8: Games that the government is playing on that end.
Speaker 14: Now, on the issue of agriculture itself, the thing is,
Speaker 14: as the agriculture trade has said, and I think he
Speaker 14: actually hits the mela because you always hear this narative
Speaker 14: of the problem with the Alcotto system. That is because
Speaker 14: of insecurity and institute. You always hear this thing in
Speaker 14: separating in security is the problem. Yes, insecurt is the problem,
Speaker 14: but it is not the major problem. If you look
Speaker 14: at the numbers, Nigeria actually does not produce enough food.
Speaker 8: So you look at numbers like milk numbers, like of
Speaker 8: the tomato production, you.
Speaker 14: See even things things that have to do with the
Speaker 14: meat meat production. If you divide it by the country,
Speaker 14: so capita production, you see that Nigeria actually doesn't produce
Speaker 14: so much. Now, despite the fact that we don't produce
Speaker 14: as much, especially when you compare with a lot of
Speaker 14: African countries, and when I mean African roger, I'm not
Speaker 14: even talking of let's start Africa, which is like times
Speaker 14: three times four on average. When it comes to capital
Speaker 14: production of food, we're we're talking of places like Ghana, Granda.
Speaker 14: That is give or take about our income by head
Speaker 14: or let's say about twice our income bare head. Now,
Speaker 14: because of the evolution and whatnot, you still see that
Speaker 14: Nigeria to produced sees.
Speaker 8: Less than them the capital.
Speaker 14: And despite that fact that we produce less than them
Speaker 14: the capital, we waste them.
Speaker 8: So that is part of what is causing the problem.
Speaker 14: Now, we should not forget that the federal government got
Speaker 14: into the game.
Speaker 8: Of giving subsidies. The Anco Borra program.
Speaker 14: Was a subsidy, was sort of like a shorta in
Speaker 14: the arm of investment in the cultural sector. The problem
Speaker 14: that we're having is that we launch a lot of
Speaker 14: these subsidy programs and they never really reach the intended public.
Speaker 8: It's either that, of course, maybe somebody gets.
Speaker 4: It and uses it to go and buy.
Speaker 8: Cars or packs some other things.
Speaker 14: So the fact that we're going printing money to invest
Speaker 14: in agriculture, it's not increasing supply, and so of course
Speaker 14: we're getting inflation. We're all getting food inflation. We're getting
Speaker 14: inflation and cementtally. I always tell people that I think,
Speaker 14: if you have to summarize my jazz economy, nigraas economy
Speaker 14: is essentially a shortage economy.
Speaker 8: We have so much money flying around but literally.
Speaker 14: In the work food toption of real goods and services,
Speaker 14: which is what is leading to the inflation problem, the
Speaker 14: range problem, the rent crisis that we're facing, the food crisis.
Speaker 8: The.
Speaker 14: The inflation in cars, inflation in almost everything. You can
Speaker 14: talk about even inflation education because every single thing will
Speaker 14: bring a.
Speaker 8: Lot of money, but we're not expanding supply.
Speaker 14: To go then as the agricultural as the agricultural trader said, sorry, does.
Speaker 8: Give me a minute our soon wrapper.
Speaker 14: We also do not have an integrated supply team of
Speaker 14: a lot of given these goods in our economy.
Speaker 8: So for instance, you have lots of palm camel or
Speaker 8: a lot of palm.
Speaker 14: Trees in inmost states in then you goop and the like.
Speaker 14: But the damas streams, there isn't a.
Speaker 8: Lot of.
Speaker 14: Supply as in the supply team. The valuting is broken
Speaker 14: in many many ways, and that is why you have
Speaker 14: a tangote downwaded tomato aldis rossing.
Speaker 8: Last week, I think it was Business Day that that
Speaker 8: talked about it. Think it was Business or our Metrics.
Speaker 14: I was talking about the Tamwote a tomato factory that
Speaker 14: is basically more open at this point, and you talked
Speaker 14: about the illuminating.
Speaker 8: It goes from this from one the good to the
Speaker 8: other goods to the good.
Speaker 14: So that is part of what we are having as
Speaker 14: as a problem.
Speaker 8: We are not investing. We just do subsidy. The subsidy
Speaker 8: just goes to people buying cars, all people using it.
Speaker 14: To grand flex in legos in one curb some way.
Speaker 8: This literally happens in the country.
Speaker 14: So of course only you you investor you launch a
Speaker 14: cultural program or investment programming in certain sectors, you just
Speaker 14: will see it in the production numbers because people are
Speaker 14: not doing it, or they're not and getting in production,
Speaker 14: or if you don't and getting production then and getting.
Speaker 8: Low value added production. People still using courtlers.
Speaker 14: To do agriculture when we could be investing in tractors,
Speaker 14: compound harvestors, import signings and the like. Well, these are
Speaker 14: some of the issues that that that that is that
Speaker 14: is costing a lot of the infusion that we're going
Speaker 14: down that we're experiences. So why would we say, oh,
Speaker 14: we're printing money. See, printing money is not necessarily a
Speaker 14: problem if you are expanding the supply.
Speaker 8: Of goods and services.
Speaker 14: That is what we are not doing when I'm expanding
Speaker 14: the supply of contoun services in the Nigernic and and
Speaker 14: so of course everything is coming out with inflation of
Speaker 14: every day good to an services.
Speaker 4: Thank you.
Speaker 1: Yeah, I completely agree with all the comments. Completely agree.
Speaker 1: I mean it's a supply issue, right. The general economy
Speaker 1: is not supplying enough. We have no power to supply.
Speaker 1: So the cocoa we're saying we're important, well, when we
Speaker 1: are talking about presco, we have the cocoa gays all
Speaker 1: over I bad, you know. But to produce that cocoa
Speaker 1: paste needs diesel. If you add the cost of diesel
Speaker 1: to your cost of pre cocoa, it goes up. So
Speaker 1: it's cheaper than important that cocoa from a country that
Speaker 1: doesn't have generator power. Maybe it's just public power, it's
Speaker 1: just that simple. Same with all of that stuff we
Speaker 1: make here is so expensive to presonature, and we've got
Speaker 1: to bring that cost down so that we can do
Speaker 1: import substitution to avoid the dollar economy otherwise where it's
Speaker 1: going in a circle. Right, we subsidize, but the subtsn't
Speaker 1: work that we import and all that final look, let
Speaker 1: me look, let me look night right, Yes, welcome to
Speaker 1: the party to hi.
Speaker 15: Ill know how you guys doing very well? How are
Speaker 15: you nice to hear you guys voice again? Here we
Speaker 15: come again Nigeria, Nigeria and Nigeria. Please let me start
Speaker 15: by saying one thing.
Speaker 4: I think.
Speaker 15: I think for the first time you guys are talking
Speaker 15: exactly what I've always been saying. But the only problem
Speaker 15: I have with it is that we are so let
Speaker 15: it only to the federal government. Yes, the government has
Speaker 15: the capacity for the physical side, but honestly speaking, if
Speaker 15: these things are not being handled by this or region hours,
Speaker 15: it's a joke. But I will tell you why you
Speaker 15: say subsidiy is not bad. Subsidiary food should be subsidized.
Speaker 15: And at the same this deright from last year. From
Speaker 15: the beginning of last year, I said, states that cannot
Speaker 15: pay thirty thousand salary all of a sudden, they can
Speaker 15: pay seventy five eighty five thousand ERA many one wage.
Speaker 15: But that same state finds difficult to spend a billion
Speaker 15: ERA every month from all the billions they get from
Speaker 15: the Center for the increments for the removal of subsidy
Speaker 15: to subsidize food from the state level, whether we like
Speaker 15: it or not, if the food is not being subsidized
Speaker 15: from the state, rather than allowing us to be looking
Speaker 15: at the state with the kind of money there're spending now,
Speaker 15: For instance, state are building fly over when it's not needed.
Speaker 15: They're investing into something that cannot bring retaught.
Speaker 4: I have not seen any state building.
Speaker 15: A casava plant, casava factory that can make cassava into
Speaker 15: finished product. I have not seen any state that is
Speaker 15: building a plant that can make late. I have not
Speaker 15: seen any state that can even produce juice like Benwell
Speaker 15: you say, I have not seen any state that can
Speaker 15: make a yam a finished product. And for me, that
Speaker 15: alone shows that the people that are in the ms
Speaker 15: of affairs in our states, they lacked the understanding of
Speaker 15: the fact that they are CEOs of the company, not
Speaker 15: the states. And for me, if we continue to think
Speaker 15: that the entire time had to be run by federal government,
Speaker 15: they were far from it. Again from the beginning, from
Speaker 15: the beginning of this year, local governments are getting their
Speaker 15: funds that wreck from the federal government no longer coming
Speaker 15: to the state government.
Speaker 3: You know what they were doing the statement when they
Speaker 3: finished the local government election, ask the local government chman
Speaker 3: to bring the money back to them.
Speaker 4: Non agerian is saying anything to this, because if.
Speaker 15: This local government is working, it means that those health
Speaker 15: centers that are having.
Speaker 4: Issues, they will be dealt with.
Speaker 3: Those little too farming probunity, the local government will be
Speaker 3: to finance them.
Speaker 15: You'll be able to cover the food inflation from the
Speaker 15: local level. Nobody is saying anything about it. And that's
Speaker 15: why I always say that sometimes we pay too much
Speaker 15: attention to the center. Again, let me go back to
Speaker 15: the rebasing. Somebody said that the rebasing.
Speaker 1: Is just this.
Speaker 15: France has not done it, Jermany has not done it,
Speaker 15: Us had not done it. I have said this thing
Speaker 15: sometimes that you as we leave in your varya, what
Speaker 15: do you compare yourself to people that are far ahead
Speaker 15: of you. They don't have the kind of problem we have.
Speaker 15: Our own problem is peculiar. In some years back when
Speaker 15: Occudi you're a well I did it? Everybody call her
Speaker 15: magic san from two hundred dollars for two on the
Speaker 15: front hundred and something billion economy. When they repays that
Speaker 15: time we went to five hundred billion. It was a
Speaker 15: good thing that time. Everybody was clapping for her. We
Speaker 15: are doing well at that time. But again it's being
Speaker 15: retorne now. Perhaps we don't like the government in power,
Speaker 15: and then we make it sound like they were not
Speaker 15: doing the appropriate thing.
Speaker 3: I think for me, I agree completely with.
Speaker 4: What Olibi they said.
Speaker 15: There are certain things we need to work on, and
Speaker 15: just like all you said in the state, in the country,
Speaker 15: part of the world you leave, you could see how
Speaker 15: they moved production of farming.
Speaker 3: And that again goes back to what I'm saying state.
Speaker 4: If legostates can.
Speaker 15: Deal with a reserve who doesn't have the land, it
Speaker 15: means that they're going to buy from those states.
Speaker 4: They've invested into.
Speaker 15: Minna, into Niger states, They've invested into KB Again. Remember
Speaker 15: the biggest rights plant is in legals. Again, they don't
Speaker 15: have PART. I think we should have gotten the waver
Speaker 15: from federal government to bring in party from abroad so
Speaker 15: that that way they can reduce the cost of rise.
Speaker 15: If we are not calling Golod state into order, no
Speaker 15: matter what the federal do, it will just be a
Speaker 15: surface scratching until the other sub regional's state start performing
Speaker 15: the same way. Not even then, I don't even do that.
Speaker 15: I'm not even do one hundred percent. I don't do
Speaker 15: fifty or sixty percent of what the center is doing
Speaker 15: and then let local government do thirty.
Speaker 3: I am telling you, if we do that consistently for
Speaker 3: six for two years.
Speaker 4: This food inflation, I can actually show you that it
Speaker 4: will go back to a single ticket.
Speaker 15: But as long as we continue to think that the
Speaker 15: food problem in Nageria can only be solved by the
Speaker 15: federal I mean, we'll be shutting security.
Speaker 3: Let's be honest to ourselves. Security is down now, whether
Speaker 3: we like it or not. Security is not as crazy
Speaker 3: as it used to be going.
Speaker 4: Back to fund.
Speaker 1: Come on, man, come on man, I live in Nigeria.
Speaker 1: Come on man, come on in Nte? Do you what
Speaker 1: did you live in? What did do you live in?
Speaker 8: A can you?
Speaker 1: I hear you? Can you go and live in in
Speaker 1: Kebby and for a week and then let's say if
Speaker 1: Keby or whatever the bandits are security is down. But Bo,
Speaker 1: you're making it your meaning. That's a casual statement.
Speaker 5: Man.
Speaker 1: There are two bandits in general they're still on that kidnap.
Speaker 1: Thet's take the general. I can finish story with you.
Speaker 3: In America, they are killing people, would gone.
Speaker 4: What are you American about Nigeria?
Speaker 1: What are you talking about Nigeria? There are three New
Speaker 1: York people in America part capital. How many purl gone
Speaker 1: in America compare to Nigeria. Finish, Let me finish, Let
Speaker 1: me finish what I'm saying. Let me finish. Let me finish.
Speaker 6: If you say that.
Speaker 15: Security in Nigeria had not reduced and you are not
Speaker 15: being honest. Ask people that are living two years ago.
Speaker 15: You cannot drive from the issue and not.
Speaker 2: The issue is about let's just writing.
Speaker 1: I was talking about agriculture, right, so food inflation MPR.
Speaker 1: So let me say you I do, I do your business.
Speaker 3: I bring, I get yams from the local, from the villages.
Speaker 4: I get yam every week. I am telling you what
Speaker 4: I know. People are going back from the secure.
Speaker 3: I'm not saying the security is on hundred percent, but
Speaker 3: the security is not as volatile as it used to
Speaker 3: be Get me, well, I'm not saying it is undred
Speaker 3: represent perfect, but.
Speaker 15: I am telling you we're far better now than what
Speaker 15: we are.
Speaker 4: Two years, three years ago.
Speaker 2: So so we have to speak.
Speaker 3: But the thing is that given the we're talking about,
Speaker 3: you want as bad as it was before.
Speaker 4: Do you understand I said, we don't want to.
Speaker 3: We don't want to blanket everything.
Speaker 1: So so I want to let me make Let me
Speaker 1: make this point I'm making again and I'm very specific.
Speaker 1: The issue is food. The issue is food insecurity. Food
Speaker 1: drives inflation. The point I am making is that there's
Speaker 1: still insecurity in the food growing areas in Nigeria, whether
Speaker 1: it's southern, whether is Benue and Plateau, Plateau. Where is
Speaker 1: a bandit in in Kirby that there's still icis in
Speaker 1: Borno if you look, if you google the report, if
Speaker 1: you just go to Google, there's not an Ami general.
Speaker 5: No hold on, don't hold on.
Speaker 4: You know we're talking of that.
Speaker 1: We are saying, very listen, I don't want to meet you.
Speaker 1: You talk, I talk please. I am making this point
Speaker 1: for food. I not interrupted you. But when you say that,
Speaker 1: you have to be very When you say this insecurity
Speaker 1: is down you that you live in a b They
Speaker 1: still keipnapped an army general in the same location you're
Speaker 1: speaking about. There's still isis in the Borno access they
Speaker 1: are still bandits in and that's what's causing the food
Speaker 1: supply to be shaky. They just banned open mining in
Speaker 1: Plateau to go just yes, just banned is a complete
Speaker 1: band on mining.
Speaker 4: But yeah, it's so.
Speaker 1: You can't say that god to Google. Where do you
Speaker 1: get where do you get the news from? You go
Speaker 1: to all the city Nigeria. You can't say you go
Speaker 1: to this Nigeria.
Speaker 3: But the times what he's saying, what I'm saying there
Speaker 3: is a better than what.
Speaker 6: It used to be.
Speaker 2: I agree with it.
Speaker 1: I'm saying I agree with farm I don't tell you
Speaker 1: now I agree with better.
Speaker 3: I think that's but I think you're missing what we
Speaker 3: are saying. Also that the fact that and still pay
Speaker 3: levies because you know, there's a story I was working
Speaker 3: on and I was trying to understand why farmers VP
Speaker 3: access because I know if I notch farmers access and
Speaker 3: to the farmer I was so I was trying to
Speaker 3: understand the black eyes worked and that percentage of farmers
Speaker 3: play taxes, you know. And yeah, you could argue that
Speaker 3: there have been some winds from the military in terms
Speaker 3: of bandits, but from the discussion as the cost of
Speaker 3: food which used relatively in Nigeria in terms of uh
Speaker 3: from from the macro side, yes, micro side, No, why no,
Speaker 3: because the cost effective is not type Now that's why I.
Speaker 4: Did any tweets.
Speaker 3: There was a there was a tweet I made some
Speaker 3: time ago I said the courst of rise has reduced.
Speaker 3: It was that I wasn't correct, But was it proportional
Speaker 3: the places where I was reduced?
Speaker 4: For example, I did sample was so it doesn't. It
Speaker 4: hasn't been uniform. So we have some like change issues.
Speaker 4: We are totally right. We have transportational issues and most.
Speaker 3: Importantly I still feel that agricultures on.
Speaker 4: That is under invested. How can they state that cano.
Speaker 3: For example having project of less find you on agriculture
Speaker 3: that is a domination. You know, I look at agricultures
Speaker 3: the payer government as a rule. That is not also
Speaker 3: fortunate because.
Speaker 4: See we we can agreement.
Speaker 8: I think not.
Speaker 4: Showing we cann look at this drink op just era.
Speaker 16: During the past leaders, we had a group. There's always
Speaker 16: even though we know that some propaganda. We have one
Speaker 16: food policy.
Speaker 10: Pa oh the biase tell me one media the popular
Speaker 10: Nagiera that people are aware of that Holily Oliver.
Speaker 1: This is this is a story from the Punch. This
Speaker 1: is dated January the seventh, January the seventh. This is
Speaker 1: let me quote the headline Niger States asks villagers to
Speaker 1: suspend farming over bandits explosives. That's I ed, so the
Speaker 1: governor of Niger State. We don't talk about ntate where
Speaker 1: he said, do I do I spending money on agriculture
Speaker 1: and all that.
Speaker 2: Neither we want to talk about them.
Speaker 1: The governor asked the farmers and shi rural local governments,
Speaker 1: you have to suspend farming because the bandits have put
Speaker 1: I eds and the farms. This is January seven five.
Speaker 1: I agree in security is done. Well, let's not paper this.
Speaker 1: This is January with all I can't so yeah, but
Speaker 1: when that's why I collected you. Now you are saying
Speaker 1: Google they even like this is this is this is
Speaker 1: this is the largest of the largest land side in Nigeria.
Speaker 1: This guy is into agriculture and like I share the
Speaker 1: che if you want to take a seat, like what
Speaker 1: you punch, I.
Speaker 8: Have all those things.
Speaker 1: I have them.
Speaker 17: What I'm saying is that again, if states and please
Speaker 17: get me what I'm saying, if there are states that
Speaker 17: are having they don't have as much as security they
Speaker 17: have in other states, but yet they don't do agricultural
Speaker 17: what you did do with their money.
Speaker 4: They build fly over US build stadiums. Who who build.
Speaker 3: Stadiums when you're having food crisis.
Speaker 2: That's my point.
Speaker 4: There are things we should prioritize. Now, let's agree. I
Speaker 4: feel that Covet is not doing undred persode what they're
Speaker 4: supposed to do. But you state you're getting more money.
Speaker 1: Now, I think.
Speaker 15: Subsidizing food, putting more money in agriculture wouldn't.
Speaker 4: Be it by the idea. That's just my stand. Thank
Speaker 4: you very much.
Speaker 2: All right, fantastic And again insecurity is down.
Speaker 1: I mean we don't have book on flight and the
Speaker 1: local government AIA, we don't have these things that like
Speaker 1: they were in the past years. But the problem, the
Speaker 1: know what in plature Nigeria is food and the issue
Speaker 1: with food in Nigeria is someone has to supply wor'll
Speaker 1: supply chain break it down to its basic elements. Is
Speaker 1: that farmers cannot even go to their farms to produce.
Speaker 1: You see report and not report here farmers are paying
Speaker 1: bandits tax to go and harvest their crops. So if
Speaker 1: imas are paying tax to going crops, you know what
Speaker 1: I means. We'll have a family here called am I
Speaker 1: to call him from northeast.
Speaker 2: He will give you to.
Speaker 1: Although you've dropped, you've dropped the mic. You've dropped the
Speaker 1: mic so that I'm not I guess I'm not trying
Speaker 1: to say the federal governments in charge of security. The
Speaker 1: states have to fold the federal government's leader with vigilantes.
Speaker 1: But again the states, I'm not spending. The point you
Speaker 1: made about the states not spending in a line where
Speaker 1: the government is also material and key. The states governments
Speaker 1: have got to also look at food and invest in food.
Speaker 1: That's just the true limited palm that Bandits went to
Speaker 1: Kumo that the white guy had to they do cool,
Speaker 1: so they have this is a quoted company, yeah, a
Speaker 1: quoted company, but they are habitation because so who provides
Speaker 1: to use for that guy?
Speaker 8: So I needed to do so.
Speaker 1: I don't want to expose our laundry and popular woman
Speaker 1: because I know what.
Speaker 4: Serious secret even the fact that we can't see that
Speaker 4: you still a serious problem.
Speaker 3: Like I've always said, if you want some of the
Speaker 3: niger consumant good sector, particularly all the flour meal, and
Speaker 3: you know you want them nested to do very well,
Speaker 3: if you want them to do very well, because I
Speaker 3: remember those times when Kness, you know, many of these
Speaker 3: manufacturing companies on culture to produce when Branded took over,
Speaker 3: and it had an effect on stock market investing also
Speaker 3: in that sector. So I don't really agree with you
Speaker 3: that yes, even though if my dad wanted it, in
Speaker 3: a lot of policy man, because branded the course will
Speaker 3: be transferred to the consumer farmers who don't expect from
Speaker 3: us to watch charity. And also most importantly, I also
Speaker 3: applied Chase are awful. How many agricultural companies are listed
Speaker 3: in the general stock market less than let's doesn't Let's
Speaker 3: have it doesn't to be fair free and your accomplis doesn't.
Speaker 4: I know the first the ones that are doing very well.
Speaker 4: So what's the incentive for government not to encourage more?
Speaker 4: That is what pays me more because look at Press.
Speaker 3: For example, they do better than many all issurance talks,
Speaker 3: all insurance companies the JA. There's no insurance company that
Speaker 3: is giving you on getting beyond there perfect before taxance
Speaker 3: company you.
Speaker 1: Know are your story there? This is first time story.
Speaker 1: Let me give you first time story. There's a guy
Speaker 1: I know, big Man. He wanted to start up a
Speaker 1: tomato plant in Borno State, right it born what I think.
Speaker 1: He went and got investors from Canada, mass. I don't
Speaker 1: know if I can mention all the company, but that
Speaker 1: Tomato Canyon company you see on your shelves when you
Speaker 1: travel abroad, that company they came to Nigeria. They imported
Speaker 1: all the goods sold the in continents. They imported everything
Speaker 1: to Nigeria. They man had the farm who was going
Speaker 1: to open up a tomato person farm. This farm was
Speaker 1: uscated tomatoes, dye sit put it in the cans and
Speaker 1: send to Canada to be packaged i e. With the
Speaker 1: same label, the same overseas label. But we said package
Speaker 1: in Nigeria to be sold in Canada. It was a
Speaker 1: total FDI. They came to Nigeria, the containers were there.
Speaker 1: All the sexties from Canada flew to Nigeria and were
Speaker 1: they were to go onto the opening ceremony next day
Speaker 1: he said it. Next day the army guy came and
Speaker 1: told them, listen, we there some amor robbers in the
Speaker 1: Boros too. They don't want the white guys to go there.
Speaker 1: That don't want to send to an army operation. This
Speaker 1: is am robbers. So they went back to that hotel.
Speaker 1: I was the start of Mukoharam. So the next thing
Speaker 1: they were seeing fighter jets bombing, fighter jets bombing this
Speaker 1: so called place where they had armed robbers. The guide
Speaker 1: stayed one day, two days. They had to go back
Speaker 1: to Canada. But they've seen everything that was so for
Speaker 1: the next three years, that guy did not go back
Speaker 1: to that farm. The continents were still there. When he
Speaker 1: went back. Miraculously, the continents were still there. On opened
Speaker 1: the farmers that were there were farming. They will show
Speaker 1: him sea bomb on exploded minissions from the air from
Speaker 1: the Air force all over the field. So this is
Speaker 1: like this guy, I will starts commenting. This guy wrote
Speaker 1: to the Canadians and returned their money the FDR that
Speaker 1: they gave him. He returned the money back to them.
Speaker 1: They said no, no, no, this is first major who
Speaker 1: were there. They said no, he returned their dollars back
Speaker 1: to them. That the teen has not worked. He's still there.
Speaker 1: I don't know if I can mentioned you guys, but
Speaker 1: this insecurity. Agriculture is tight at the hip. It's tired
Speaker 1: at the heap. With Nigeria, the largest employer of Leger
Speaker 1: Najia are its agriculture and they are subsistence farmers. We
Speaker 1: don't do mechanize family Nagia. We have one or two,
Speaker 1: but the bulk of the family don't mechanize by subsistence farmers.
Speaker 1: And those guys live in small hamlets. They don't see
Speaker 1: any government, they don't see any fetializers. They don't see
Speaker 1: anything that we're talking on Twitter. It's just the farm.
Speaker 1: There are twenty plots. They get ten bags of maize.
Speaker 1: That's their currency for the next year. If don't marry,
Speaker 1: they give you maize. If don't buy moscaco, they give
Speaker 1: you maize. They don't use nayra, they don't use. That's
Speaker 1: basically subsistence farming. Anything that destroys that living, that's living.
Speaker 1: It affects us in Legos because the things we are
Speaker 1: facing Negos that those guys are operating the beans or
Speaker 1: the yam or the meat to send down to us
Speaker 1: in Legos for us to consume. That's what's going on.
Speaker 1: Dang Gote, I've told you to google it. Doan go
Speaker 1: to tomato factory in Canno cannot get tomato e lumelus
Speaker 1: mango president plant in benwe cannot get mango. The legal
Speaker 1: service in Legos can not get rice milk. You can
Speaker 1: go around everywhere. Once you see largest rice mill, it's
Speaker 1: always in Nigeria. They do three biggest rice milks in
Speaker 1: Southern Africa, Legos, Kogie, Wear Canoe. They are all Nigeria largest,
Speaker 1: Tomato Nigeria largest and mm allergy Nigeria largest, cement plan.
Speaker 1: Everything is largest, but our prices are also the largest.
Speaker 1: There's a disconnect somewhere. There's something that Nigeria is not
Speaker 1: driving where we have all this massive industrialization, but we
Speaker 1: are still subsistence farming. It there's no rain, we can't
Speaker 1: farm for that year there's no rain. It rain does
Speaker 1: not fall, we can't farm. No no irrigation, no drip irrigation,
Speaker 1: nothing about it. That the largest economy in Africa is
Speaker 1: waiting for rain to fall so they can to farm.
Speaker 1: So it bring is delayed. No farming past the o
Speaker 1: that you hear tomatoes are expensive. Why that that little
Speaker 1: insect that goes so cannot and destroys the old tomato farms.
Speaker 1: The little insect the tangle was no that I wrote
Speaker 1: about it one time with till today. We're not doing
Speaker 1: in inland was a greenhouse farming of tomatoes. We're not
Speaker 1: doing it. When I used to go to Bauchi. If
Speaker 1: you ent a Baucher you cities, I think it was
Speaker 1: your school. They had greenhouses. When this formative form a
Speaker 1: PDP guy that was the back PID was the governor
Speaker 1: was the chage of butchested. I saw those things, greenhouses
Speaker 1: for tomatoes, they were there. I went back to Bauchi
Speaker 1: maybe a few years ago to all tatted, all tatted
Speaker 1: you no same thing talking in h in itadon the
Speaker 1: only cocoa factory that was able to process cocoa into
Speaker 1: cocoa peas and rest it closed down. They were only
Speaker 1: in banks. They closed down and it wasn't that the
Speaker 1: armc and also took them over. That's a strategic industry
Speaker 1: should have been saved, which have no giving them money
Speaker 1: to save the boys closed down.
Speaker 2: Or they.
Speaker 1: Power are planted a robbers have gone there. So so
Speaker 1: it's difficult to Nigeria. It's a difficult place to do
Speaker 1: business and we just need to focus on ourselves. We
Speaker 1: can't do everything in this country, but it's difficult. That's
Speaker 1: the point. We do a lot of talking. We love
Speaker 1: to ware chatting the binance. We do a lot of
Speaker 1: talking early flashy things, but dignitty gritty. They're making sure
Speaker 1: our hometowns are secure. We see not have a hand
Speaker 1: on it. I saw them moving against the other terrorist
Speaker 1: group because they were foreign US, but.
Speaker 2: Their local bandits still here. They're not worth not reradicate them.
Speaker 1: How how sophisticated are those bandits that we cannot even
Speaker 1: if we have to employ medsinaries to deal with these guys.
Speaker 2: We should have done a long time ago, getchured of them.
Speaker 1: Then the president can implement its planed clear land so
Speaker 1: these farmers can go from subsistence to at least minimal
Speaker 1: mechanization to even grow food. We can't be important Gary.
Speaker 1: How can Niger be importing Gary is absurd? And if
Speaker 1: you think I'm lying, Google its Nigers and putting Garrey
Speaker 1: from India. You see the pack red pack is sold
Speaker 1: in Abuja store.
Speaker 4: Google it.
Speaker 1: Don't talk about for it. You see that financial engineering
Speaker 1: hiding sir, you got the floor paras engineering. I've got
Speaker 1: to about cyrus. Paracial cyrus don't happen before fancial journey
Speaker 1: hits cyrus. What's one?
Speaker 11: Yeah, thank you very much. I just like know when
Speaker 11: we have conversations, we have to put this in contest.
Speaker 11: And the last speaker some of the things that he said,
Speaker 11: we're out of contest. I was talking about the Bass
Speaker 11: Digital Administration and if you look at the re based
Speaker 11: efforts and the metology that was adopted by the NBAS
Speaker 11: and compared to what we have today, you know that
Speaker 11: is campaign opposed with Orienties, totally campaign opposed with Orienties.
Speaker 4: And I just think I actually know we should point
Speaker 4: that out. One of the things that one of the whole.
Speaker 11: One of the things that the NBA did at that
Speaker 11: point was to look at the basis two betures maintain
Speaker 11: you know, even the business was done, does not fourteen
Speaker 11: and just because of the change in economy, activity and
Speaker 11: economic management in the country.
Speaker 4: So they were more booming in those trees like.
Speaker 11: The information sector, information, communial secretory, service sectory to real
Speaker 11: estate was booming and so he puts activities and really
Speaker 11: people in people in theres were economy changed drastically and
Speaker 11: that have to be considered in the GDP, you know,
Speaker 11: calculation of the country. Now when this government wanted, not government,
Speaker 11: when the NBAS wanted to do their only basin, but
Speaker 11: are than going back to three years to look at
Speaker 11: price movement, which would have even made sense, like to
Speaker 11: determine how people, you know, interact with prices in the market.
Speaker 11: They went back twenty four and what they said that
Speaker 11: the price has dot froms not twenty four two twenty five,
Speaker 11: you know month or month two in a year by
Speaker 11: ten percent, which is not true. There's no there's no
Speaker 11: fundamentals to that. So when you talk about these things,
Speaker 11: you have to put this in proper contexts. You can't
Speaker 11: just both suk things and said.
Speaker 4: Oh, I know I did it, or NBA is doing
Speaker 4: n O, I p R did it.
Speaker 11: Even though the proximity was four years difference, yours were
Speaker 11: just one year different. And indicators that you put in
Speaker 11: let's look at indicators, right, you said, if the objective
Speaker 11: for the basin is to check people's behavior, you know,
Speaker 11: as limited to prices.
Speaker 4: Right as things change as they have.
Speaker 11: Been order, you know, secretary to reduce you know what
Speaker 11: are people buying, are selling and whatnot? You input, you
Speaker 11: brought in important food in these you brought in goods
Speaker 11: in disease, you brought in farm produce in this is
Speaker 11: our All of these things different from food. So you
Speaker 11: have to you have to just look at it from
Speaker 11: a very objective view point as a point to cost
Speaker 11: dressing and for the fact that oh we're just we're
Speaker 11: trying to look good for the global com It's not
Speaker 11: about looking good.
Speaker 4: If you want to if we request a loan for
Speaker 4: the example, you know from.
Speaker 11: Infertional creditors, which defraglement is moving and pharraglement is you
Speaker 11: know at the are trying to get seven and fifteen
Speaker 11: million dollars loan from for the lower education which doing
Speaker 11: engineer trying to the remaining one perfect billion loan from
Speaker 11: more Bank and all and not like that. One of
Speaker 11: the things that they look, all of the interest that
Speaker 11: they look is your inflation figures. Right, all the economic
Speaker 11: industries are determine whether you are you have the credit
Speaker 11: wordiness to secure the loan or not.
Speaker 4: So all of these is matter.
Speaker 11: It doesn't matter to read reading agencies that leads you
Speaker 11: whether you have in whether your book is good or not.
Speaker 11: So you look allgator that you're supposedly independent data injency
Speaker 11: provide to.
Speaker 4: Determine whether you can get this or not.
Speaker 11: When DEFRA government has been fighting inflation and eighting so
Speaker 11: so that I we having the.
Speaker 4: Stop divisional I used to go down.
Speaker 11: So one of the best with the child they could
Speaker 11: do it was to bring it artificially to appeal to
Speaker 11: all of this.
Speaker 4: Know all of these authorities.
Speaker 11: So for me, I think I just caused dressing and
Speaker 11: it should not be in any way compared to what
Speaker 11: app only twenty fourteen.
Speaker 1: It's a difficult one to do, really because I get
Speaker 1: what they're trying to do, and in a way I
Speaker 1: kind of support it. I just wish that it just
Speaker 1: it's I don't know because of what they did with
Speaker 1: the unemployment number. This one's sort of roughly the wrong
Speaker 1: way because the un employment about me was just absolutely
Speaker 1: just doesn't make sense to say if you work for
Speaker 1: one hour in a week you employed who? Who would
Speaker 1: say that?
Speaker 3: You know?
Speaker 1: Imagine if you.
Speaker 4: Listen as you want for one hour.
Speaker 11: In the US and other places, the minimum were just
Speaker 11: calculated our lead in Anginea, a minimum were just calculated monthly.
Speaker 11: The very purpose of unemployment figure is to determine the
Speaker 11: the was it called the incompact capital of the cities
Speaker 11: in right, I mean I hourly If.
Speaker 2: It doesn't make sense if you.
Speaker 4: Have hourly employment figure to determine.
Speaker 1: Who and what so sartus even even they do that
Speaker 1: cyrus can they say if you work for five hours
Speaker 1: or twenty hours, that would make more sense. You work
Speaker 1: for ten hours a week, but the hour hour in language.
Speaker 11: There you can have a symmetrical in this season of
Speaker 11: calculating and employment hourly, if you have a monthly minimum,
Speaker 11: it doesn't make any sense to have an hourly calculation
Speaker 11: of employment because the hourly does not take you uniting
Speaker 11: you know what people in terms of what people, and
Speaker 11: it doesn't tell you.
Speaker 2: Anything, So that's a quick question for you again.
Speaker 1: Right, so do you think investors that read your articles
Speaker 1: or read Nigal articles are going to adopt this twenty four?
Speaker 2: This is going to be a good cell.
Speaker 1: Will they all say there's the numbers, we're going to
Speaker 1: run with it or would they put twenty four with
Speaker 1: an asteris?
Speaker 18: What's your takeact the way so far donating that investment
Speaker 18: interest in his amputies and depth stocks inventors, investors have
Speaker 18: been a lonely way from their economy for two major
Speaker 18: business security in security.
Speaker 11: Forget what we are saying on these spaces, intends after
Speaker 11: being appointed on Bloomberg, on wawriters and financial trends and whatnot,
Speaker 11: and applation to any kind of person as signed to
Speaker 11: bring this huge capital adn't mon to this country, right
Speaker 11: the primarily in security. So he's seen Nia as the
Speaker 11: lowest FDI influence to the country for the past I
Speaker 11: think nineteen is also it was twenty nine. It's nine
Speaker 11: million dollars nine for nine million dollars as of top
Speaker 11: quarters twenty four. Right, so people, people are trually going
Speaker 11: away from Nanga market because number one in security, hastead
Speaker 11: of your life right the head of the life of
Speaker 11: Pier bringing to the country, look at what the binans die.
Speaker 11: And the second leasing is corruption. N Your governments have
Speaker 11: a very very bad reputation in terms of you know,
Speaker 11: business doing business with them, and I think those tudis
Speaker 11: have been like the major issue person needs that are
Speaker 11: going out there.
Speaker 4: So all this one they are doing. You know, you
Speaker 4: talk about Gua Cola, you talk about all these other
Speaker 4: people are talking about.
Speaker 11: Nobody's bringing their money to this concert because they see
Speaker 11: security and it's a corruption and those tuties are deal
Speaker 11: to it. I don't think anybody's gonna take this, and
Speaker 11: it is gonna be in a young market.
Speaker 4: I'm talking about the reset.
Speaker 11: And you know, trying to get big our money and
Speaker 11: you know, to this to the following for Fulio investment,
Speaker 11: I'm talking about actually plant in a building, plant in
Speaker 11: those trees, bringing your people to work with you at all.
Speaker 4: Nobody is going to touch job with the long boat.
Speaker 2: You know that's that's not very happy or not, but
Speaker 2: that's not very very nice thing to hear.
Speaker 3: You say, yeah, yeah, because it's been honest, you know,
Speaker 3: and that's the why when somebody as if I.
Speaker 4: If I, if I whether.
Speaker 19: I said that, I spoke about investing almost everything in
Speaker 19: money market or the capital market, and the reason was simple.
Speaker 19: You know, we all know that business is one of
Speaker 19: the best way to prosperity in terms of employment, inequity,
Speaker 19: were revenue for government, but there is that you know
Speaker 19: I was doing in Soviet Nigera stocks we have about
Speaker 19: one and let this Nigeran stock market and more than
Speaker 19: sixty percent or pretty legals. Yeah, you can argue that
Speaker 19: they are out over the part of the country, but
Speaker 19: most of the revenue and income come from legos.
Speaker 4: But when you look at America, for example, America.
Speaker 3: Future States, yes you can argue that also California, Texas
Speaker 3: and New York is responsible for the total of economic activity,
Speaker 3: but it's not as concentrated as what we see in
Speaker 3: ninety years. So I feel like the for government and states,
Speaker 3: they really need to take economic foru US, not just
Speaker 3: creating conferences implementing those conferences, what they really actually we
Speaker 3: really need to have a state for agriculture.
Speaker 4: We need to have a state known for the sector.
Speaker 4: We need to have a stateroom for you know, silicon
Speaker 4: or whatever AI or things like that.
Speaker 3: We really need to diversify because Carlo ditot about the
Speaker 3: problem I have with many states in the gas.
Speaker 4: That did just copy and sometimes they feel the objective
Speaker 4: of going.
Speaker 3: To business school because some of these governors are business
Speaker 3: school trade and I came to wonder, why is it
Speaker 3: that in states, the states that has at least twenty
Speaker 3: local government and as it's reger, the amount of people
Speaker 3: that understand economics cannot generate are thousand dollars per water
Speaker 3: making excuse that everything that illegals. You know, I've listened
Speaker 3: to many One of the problems I have in states
Speaker 3: economy places that we keep making cheap excuses, you know,
Speaker 3: investments in agriculture horrible, investments in education horrible. And if
Speaker 3: you look at the type of cas they get, the
Speaker 3: type of looks really take in Europe in.
Speaker 4: America with all the excuses, they still take private. So
Speaker 4: the question goes down to is the interest in the
Speaker 4: country in the interest.
Speaker 3: Of the at their arts or just for their family
Speaker 3: and plans. I think we really need leaders that look
Speaker 3: at national interest in Chinese just by the Chinese at
Speaker 3: their corps. It's not that they're saying sports an average
Speaker 3: Chinese is pathotic. Anotherage Chinese wants imptalment of his country
Speaker 3: at average Chinese, we definitely have something for China. That
Speaker 3: is how deep system has been programmed. So you've got
Speaker 3: justice someone that is corupted in China. You see that
Speaker 3: he also he has his lead to.
Speaker 4: First in China. You know in Nigeria, it's almost different.
Speaker 3: Any which boy you see in Nigeria is telling you
Speaker 3: that you see if you call me that, like you
Speaker 3: talk about stop market, you are you know, really.
Speaker 4: Brilliant, brilliant enemies. And every time you do that, stock
Speaker 4: market is used. But you don't want to disagree as
Speaker 4: that he has a lot of money. It's reversed in
Speaker 4: US once he has a lot of money, diversity and
Speaker 4: u reality.
Speaker 3: What you see you find out is that is the
Speaker 3: level of understandard of investing is limited because even aduce market,
Speaker 3: you need setting advantages political, economic, social culture.
Speaker 4: To really break to the legs. And we really need
Speaker 4: to change that economic person that.
Speaker 3: Yeah, America is important, Frans, it's important. UK is important,
Speaker 3: but the best way we can build our world is
Speaker 3: our country. We need leaders that are not snapping on
Speaker 3: TikTok because of the weds return, because they are driving
Speaker 3: the cls or driving rule weally need as that understand
Speaker 3: that there are selling places that when we are buried
Speaker 3: they are names, will still remember a pat instead as
Speaker 3: if Newting, Michael and fire the nobody remembers their network.
Speaker 4: We all remember their inventions, their laws. You know this happens.
Speaker 1: We need calu okay omit, I'm a reading the story here.
Speaker 1: Ogon state, it's looking at getting about two point five billion,
Speaker 1: that's dollars two point five billion dollars through the GBS
Speaker 1: of Brazil. So JBS wants to invest two point five
Speaker 1: in Ogo state that they're doing cattle ranching, so they're
Speaker 1: going to have cattle ranches and all that. And being Ogon,
Speaker 1: they're looking at a bell cut also sixteen thousand square
Speaker 1: kilometers and then and all that. Yeah, impressed.
Speaker 4: State is my state of origin, you know, And I'll
Speaker 4: tell you that I want problems.
Speaker 3: If you look at New York and New Jersey, if
Speaker 3: you look at Paris and me on, if you look
Speaker 3: at London and Edinburgh, you see gegles for example, if
Speaker 3: we turned their route nets. You know, we're not being dismissed.
Speaker 3: Can in fact, property evaluations are going. This is the
Speaker 3: law of opportunities that we becouse have been created. If
Speaker 3: we understand comparative advantage and see put things in the economy,
Speaker 3: we don't really need to rocket size or just for example,
Speaker 3: yes we you can't just put it is the gateway
Speaker 3: like they say.
Speaker 4: But we're not where we should be, you know, in
Speaker 4: terms of development. You know, look at the developments. Look
Speaker 4: at your.
Speaker 3: Area, the the that industrial when it was built at
Speaker 3: that time, the argument was that open.
Speaker 4: Stage would definitely.
Speaker 3: At some point be producing a total economic activity outside
Speaker 3: becose outside in the southwest, look at it. Look at
Speaker 3: your two almost the dominant manufactioning house biscuits. Many of
Speaker 3: the biscuits that the country consumed was BA. Now if
Speaker 3: you look at things that it's not like look at
Speaker 3: the east, look at the east. The average about things
Speaker 3: are not as industrie the skill which I am bed
Speaker 3: by now and a Certifrica should learn the Abatman shoe.
Speaker 4: We have got to that devil, so can you. You
Speaker 4: can't argue about.
Speaker 11: You.
Speaker 2: What's your take? This is impressive?
Speaker 1: Is still here? I don't think it's here again. So
Speaker 1: think two point five billion going to Orgon for cattle.
Speaker 1: That that's pretty good. Let's see what will happen if
Speaker 1: that flows into Nigeria and crazy jobs and there's less
Speaker 1: cattle walking from the north to the south, that's a
Speaker 1: very strategic investment.
Speaker 2: Financial engineer, how do you want you're ready to speak?
Speaker 1: Are you here now? Fan engineer? Everyone, how are you doing?
Speaker 6: I'm fine?
Speaker 8: Nice?
Speaker 4: Everything well? Logo to you doing on this platform?
Speaker 20: My bras so Yes, I think we have to madior
Speaker 20: problem in Nigeria, the problem of insecurity and the problem
Speaker 20: of we lack accountability of any country accountability.
Speaker 4: It leads to correction.
Speaker 20: But listening to Trump in recent times, Trump, we're always
Speaker 20: alas we have your country to save John passion and
Speaker 20: that desires just like okay, we have America to say. Now,
Speaker 20: let me give you an instance. Sometimes okay should be
Speaker 20: last year. If I go and put it out there
Speaker 20: that they ordered in the road a contract that is
Speaker 20: cardunal to a contract to Julius Burger, and he said.
Speaker 4: I stand the chance to be to be corrected.
Speaker 20: If I have a message you will be awarding twenty billion,
Speaker 20: never monthly to Julius Burger to do with.
Speaker 8: The construction of the road.
Speaker 1: Deserve No, I'm.
Speaker 20: Twenty billion, never monthly. I stand to be corrected. See
Speaker 20: I monely thought that in body issues that do we
Speaker 20: have independent bodies Dampa che meeting these people.
Speaker 6: That is my question.
Speaker 20: I would like some probably put you just speak as
Speaker 20: big as that. So another thing is that you know
Speaker 20: in Nigeria related that the governor is doing well the
Speaker 20: investing infrastructure. Now I'm from Choire States. I was in
Speaker 20: my states last month. I was in my state December.
Speaker 20: I spent not in less than fifty five days there
Speaker 20: and I could see that inquired. They are just building
Speaker 20: bridges and as they look until the other man that's upset.
Speaker 20: You only don't notice in some states what they should.
Speaker 4: Invest right now should be agriculture.
Speaker 1: There a lot of.
Speaker 20: Lands in Quira, like I was traveling to Quira and
Speaker 20: from Europe, there are a lot of lands like bushes
Speaker 20: are read by governments can invest in agriculture. When Navid
Speaker 20: I an Avid man in the States, you see the
Speaker 20: building filling station, building bridges.
Speaker 4: What the people do you know?
Speaker 20: Even they building building choir the tank beverage right now
Speaker 20: if they're not using.
Speaker 4: It right now?
Speaker 20: They said they said the bridges so standard. So this
Speaker 20: all of this baff with me.
Speaker 6: And want to speak on the game.
Speaker 20: Is that I ready use any I'm sorry this mark
Speaker 20: Rani said, And if I have got many defended in
Speaker 20: her it's eight billion dollar approximately to a point, it's
Speaker 20: chillion just to defend in air by believing air was floated.
Speaker 4: So why should we defend it again?
Speaker 2: It pustion of money, that's the question.
Speaker 1: I mean for me, let me just speak clear. I
Speaker 1: defend the floated ira because we couldn't afford five hundred
Speaker 1: era to the dollar. We couldn't afford that peg. But
Speaker 1: now when the dollar has gone to fifteen hundred, you know,
Speaker 1: and that work, can't defend it to bring it down.
Speaker 1: Now allow the thing to float. The world will happen
Speaker 1: that folks that I think we can't afford, we will
Speaker 1: drop it. Because what's going is that when you defend
Speaker 1: an error, you are subsidizing lifestyle. People want it's floated, yeah,
Speaker 1: but only if we defend it. People want to send
Speaker 1: their kids abroad, right let them pay the fifteen hundred.
Speaker 1: But right now, when you defend it, then people can
Speaker 1: accept them. Can have four to send our kids abroad.
Speaker 1: But when you cannot send your kids abroad by force,
Speaker 1: will face feder Goments College and say let's make that school.
Speaker 21: Report, and there some careers to be honest, because I
Speaker 21: think when he was talking about depending, I think people
Speaker 21: I'm trying to assume that the fact that he was
Speaker 21: talking about the cost, and I know.
Speaker 1: It was he was very clear. He was very clear.
Speaker 1: He spoke about the reserves, he spoke about the good
Speaker 1: and the guard.
Speaker 2: Then he said eight billions. I put video on.
Speaker 4: It's not clear.
Speaker 3: Calm you know, I said, it's not clear how it's
Speaker 3: been off from forwards, diety diversion. I had not say
Speaker 3: diety diversion on that I do. So this is are clear.
Speaker 4: You don't even need to you don't need to waste
Speaker 4: time on I was going to clear a.
Speaker 22: Version he say cooking through debt through different And look
Speaker 22: at this way, right, if ciby and borrows four billion
Speaker 22: dollars but does not spend it on that intervention, is
Speaker 22: that defending an IRA.
Speaker 1: It's four billion sitting recipients for reserve exactly, so they
Speaker 1: don't need to give that money to b DC. If
Speaker 1: what is what is Narra's strength. If I am a
Speaker 1: trader and I look at the Japanese year and the
Speaker 1: charity Chinese year, they have three trillion, three trillion dollars.
Speaker 1: You can't go and harass Yen. You lose money. So
Speaker 1: if I come to Niger and I said they have
Speaker 1: thirty two billion, I can raise the two point one afternoon,
Speaker 1: shot the naira and make a killing.
Speaker 2: So, but when you have forty forty five billion, nobody's
Speaker 2: going to shot you. So I don't think.
Speaker 1: But when you brought that four billion, how do you
Speaker 1: brow the four billion? Your pain interest? So I think
Speaker 1: it's saying that the total expenditure, the total choose the
Speaker 1: army that is fighting to kill a narra at fourteen
Speaker 1: hundred is eight billion. Doesn't mean agree it's going to
Speaker 1: be diseased. But we're covering a total outter the exposure
Speaker 1: of eight billion to keep a narr at for fourteen hundred.
Speaker 1: That's I guess what he's gonna say.
Speaker 3: I think it's arguable, but I think for me, I
Speaker 3: think the problem we were coming from. I think it
Speaker 3: wasn't impad but I don't think it's.
Speaker 1: Up to because why are we doing it? I mean,
Speaker 1: if you floated, why are you going back to you?
Speaker 1: This isn't managed to flut right, This is the dogment.
Speaker 3: Of card so and you know that's why I said
Speaker 3: that we needed to do were coming from last year.
Speaker 23: Dinner was very parabolic. In fact, at some point dinner
Speaker 23: it was more for that doubt than bits coin, you know.
Speaker 23: And we may have effects from our major source collar,
Speaker 23: you know. And it was his new administration, so I
Speaker 23: felt like other the new CPI.
Speaker 4: The first thing he was to get from the vestper community.
Speaker 3: And now you get from the investment community, you make
Speaker 3: your currency attractive. So he plays a pillion and yeah,
Speaker 3: FPI has got the key at this time, meaning that
Speaker 3: brought in some form of stability at some point.
Speaker 4: And that's when people are saying, oh, I interested. It
Speaker 4: was not of inflation.
Speaker 3: I was telling him that we also forgot that we
Speaker 3: had the problem of a very latile.
Speaker 4: From the same market, because you.
Speaker 3: See, if you cannot fight inflation and you cannot ensure financial.
Speaker 4: And tebrity when your influence market is doancing like the
Speaker 4: real coin.
Speaker 3: So the fact that he has solved that, we need
Speaker 3: to give him credit for that, because that was a
Speaker 3: very difficult job to studients, uh the former acts and
Speaker 3: try differen style. It is also we need to give
Speaker 3: him credit for that. However, we all know that it
Speaker 3: comes at the premium, which everybody is saying, so uh
Speaker 3: as it is going down, the user going down and
Speaker 3: they are finding is that's why it's coming out with
Speaker 3: different reforms. We look at fs code, you look at
Speaker 3: trading through their time, now look at it's coming his
Speaker 3: opinion up. The CIBA recearch tive are working with all cylinders.
Speaker 3: My fear is just that these guys are doing so much,
Speaker 3: but the physical side it's just sitting down on the couch.
Speaker 4: You know, they're not seeing there working supporting.
Speaker 3: Because if the physical side is even doings as what
Speaker 3: the Cybyan is doing by now, then stability is commidence.
Speaker 3: We can say that this year because to be honest
Speaker 3: with you, the now has all it takes to maintain
Speaker 3: stability from the President Marcross. First, demand has not increased
Speaker 3: like we saw in previous quarters.
Speaker 4: You know, all production has gone. I had at one
Speaker 4: point for million biots.
Speaker 3: The argument is that the country can push it to
Speaker 3: one persons close to the fer government project all is
Speaker 3: still a bit is higher than sul Pyo, you know,
Speaker 3: so we still have some things working for us. The
Speaker 3: only problem is is that a distance sustainable we all
Speaker 3: is not sustainable. So how soon can befare government get asked.
Speaker 4: That's the argumable. I don't think I do. So the
Speaker 4: CPN you did a fantastic I think they did.
Speaker 3: A fantastic job really assurance the ability in the FX market.
Speaker 1: Perfect. Let me get together. I want to speak and
Speaker 1: I think I've dropped off, Sir, Sirlnkos Salinkos.
Speaker 4: Yeah, yeah, beliving sir.
Speaker 24: Yeah, my name is Collins actually and that name is
Speaker 24: said there is a colleens go from the back. Yes,
Speaker 24: thank you so much for the opportunity. I don't know
Speaker 24: if I'm a liable. Are people listening to every room?
Speaker 4: Yes?
Speaker 24: Good, I'm listening from Eula Adamo State, not the East.
Speaker 24: And you guys has really talked about quite a number
Speaker 24: of things. These are some of the things that are
Speaker 24: giving us a kind of a Similius Knight. Now, natural
Speaker 24: is blessed actually with everything everything we have, the human resources,
Speaker 24: we have, the atmospheric resources, we have the natural resources.
Speaker 24: So everything you think of this country health. The only
Speaker 24: thing we're going to talk about is we look at
Speaker 24: the actions of our leaders. I don't really think in
Speaker 24: the way the way we in this very popular group
Speaker 24: are thinking, are just seeing what we're seeing and when
Speaker 24: we look at who are the people going in us today,
Speaker 24: look at that these are people from the ancient. They
Speaker 24: are thinking like backwards. But we that we look into
Speaker 24: the future, we've seen a lot of things that they
Speaker 24: don't see. Unfortunately, they are the ones that are always
Speaker 24: on the helm of all a fears, so they control things.
Speaker 24: You know, when you talk about the Dangote Tomatos farm,
Speaker 24: my father is the first manager of the every particular
Speaker 24: farm in Carno State. So he walks there for three
Speaker 24: years and his start. He has been an agronomist for
Speaker 24: the past forty five years, close to fifty years. So
Speaker 24: when we talk about the future of Nigeria, I would
Speaker 24: tell you that the future of Nigeria is agriculture, renewable
Speaker 24: energy and information technology. If our leaders can exclude these
Speaker 24: three angles, Nigeria can fit the whole of Africa. Now
Speaker 24: you make mention of you've never seen any state government
Speaker 24: producing all a kind of establishing industries that can be
Speaker 24: able to bring money into the country.
Speaker 4: Yes, it's true, you are right. Now you make mention
Speaker 4: of you.
Speaker 24: See Ocean states or gund States, Talaba State, Benue states.
Speaker 24: I did some studies some years back that state you know,
Speaker 24: when you're talking about the importation of Ugary, when we
Speaker 24: look at these very particular states, how about thinking of
Speaker 24: having an eternal refinery in this country of the edward
Speaker 24: Internet that is we are using in this country is
Speaker 24: important from Brazil, from US and from other countries till
Speaker 24: today starts, I start to be corrected. Since nineteen forty five,
Speaker 24: Statu has been imported in Nigeria. But yet Nigeria, if
Speaker 24: I'm not mistaken, is that in the third largest producer
Speaker 24: of cassava in the whole world, and the fours in Africa,
Speaker 24: but none of them has ever think of establishing within
Speaker 24: this zoo.
Speaker 1: Any of this.
Speaker 4: The government can.
Speaker 24: Establish the enabled environment and covered with the private sector.
Speaker 24: Let this very particular institution become like the SPV especial
Speaker 24: purposed VII.
Speaker 4: Okay, I can be used as a going to establish
Speaker 4: list because.
Speaker 24: Anything you left it only only on the hands of
Speaker 24: coveying is going to be spoiled. But the goal has
Speaker 24: at least like forty percent or thirty percent if a
Speaker 24: good step or shoe stage stage tabus.
Speaker 2: Yeah, all the run to get to lund the ship.
Speaker 24: Yeah all right, okay, so and and I have actually
Speaker 24: a lot to talk about. Understand, I have actually virtually
Speaker 24: in all those things you talk about, and virtually like
Speaker 24: even when you talk about the ministry of livestock, you
Speaker 24: see not up to three or four this I established
Speaker 24: a particular proposal or livestock. And how is a factory.
Speaker 24: What I'm going to tell you now somebody I can
Speaker 24: give it for free, anybody can use it.
Speaker 4: And how is a factory. I designed a proposal wherever
Speaker 4: you can have a zero waste or get a machine that.
Speaker 24: Can slow down the power can be collected divery particular
Speaker 24: bloats in divary particula all from more than Abata if
Speaker 24: any of the states in other monster we have the
Speaker 24: largest you know at Thatto market because of our prosumity
Speaker 24: between those and Cameroon you talk about movie, you talk
Speaker 24: about pen You look a government now when we have
Speaker 24: any other state can have that. Under the lifestyle. Now
Speaker 24: you see when you pick a cow, the blots can
Speaker 24: be used for feet and companies, pharmaceutical companies needed to
Speaker 24: make beauty creams and the rest of them. The horfs
Speaker 24: of the cow can be used to make a headsive goal.
Speaker 24: The skin someone who was talking about shoe factories, the
Speaker 24: skin can be used to make this we have.
Speaker 4: The meat is there. When we look at also the
Speaker 4: wastes in.
Speaker 24: The cow, we can convert it to organic manure. We
Speaker 24: can also use it to biographs.
Speaker 4: Now the act itself, it's sick because of.
Speaker 25: The activities of my kind Google lander Ship. Yeah yeah,
Speaker 25: all right, it's okay, you're good. So in essence, in essence,
Speaker 25: I will run it all. In essence if we have
Speaker 25: opportunities to talk to our leaders.
Speaker 24: We don't now three things only remain on earth on Nigeria,
Speaker 24: renewable energy, agriculture and information and communication technology.
Speaker 4: If we can harness this, believe me, we can. We
Speaker 4: can achieve everything. Lastly, for two minutes.
Speaker 24: It study has been done by Raina in the northern Nigeria.
Speaker 24: The song that we have can generate it eight point
Speaker 24: seven giga wytes.
Speaker 4: I brought in Cha.
Speaker 24: I brought in Chinese investors not less than trobles from
Speaker 24: Hong Kong.
Speaker 4: China is shifting away from the using of sola panet.
Speaker 4: They're using dish.
Speaker 24: They ask me, get any other institutions where are going
Speaker 24: to put all these things for the off free to
Speaker 24: see how effectivity is Now once you can be able
Speaker 24: to address the cost of power, inflation and the course
Speaker 24: of production is going to reduce at.
Speaker 4: Least by fifty percent. Thank you. I hope to get
Speaker 4: another time to talk to you. Guys are lost that
Speaker 4: we need to talk.
Speaker 1: Thank you, sir, anytime, anytime, sir. You just hope a
Speaker 1: fantastic comments sort of room. What you said from your.
Speaker 4: Love Yes, I'm talking to you directly, not from your loa.
Speaker 1: How is how is it when you guys are Yeah?
Speaker 4: But when is there? But when is there? Tomorrow we're
Speaker 4: going to a Buja.
Speaker 24: I'm going to make a presentation concerning the ecological factors
Speaker 24: in Nigeria at the office of the SGO, you know,
Speaker 24: addressing these things we are talking about.
Speaker 4: So that was it was so interesting for me to
Speaker 4: sit down and listen to it.
Speaker 1: Thank you, sir, appreciate that, sir. Thanks for hopping it.
Speaker 1: We do early up shich you think at that time
Speaker 1: to speak to us? Yeah, let me look at your back.
Speaker 1: What's what's in your mind? You have someone just what
Speaker 1: I was talking about? Your submission? Do you want say
Speaker 1: anything else on that?
Speaker 7: No?
Speaker 4: No, no, I think I think the last speaker just
Speaker 4: killed it again.
Speaker 15: There are many things the States can invest in just
Speaker 15: like he said, I know in that part of Nigeria
Speaker 15: also they have a lot of cottings there Indamara, but
Speaker 15: they do nothing about it. So just to pop like that,
Speaker 15: let's allow let's make our states viable. That way we
Speaker 15: can drop all the costs of inflation and food.
Speaker 1: Thank you, perfect perfect kill you clu too.
Speaker 8: Yes, so I.
Speaker 14: Want to say certain things which I think Nigeria's need
Speaker 14: to hear, and we don't like to hear this because
Speaker 14: we think our countries somehow the land of milk and honey.
Speaker 14: It prove is that Nigeria is not blessed with everything.
Speaker 14: We're not even remotely close to being blessed with every thing.
Speaker 14: Do we have good land, yes, we do, very fur
Speaker 14: our land. But if you look at natural resources outside
Speaker 14: oil and gas, especially gas, limestone, oh, all the other
Speaker 14: minerals are hear that Nigeria has, they are in small quantities,
Speaker 14: very small quantities. So let us stop thinking we have everything.
Speaker 14: If you look at human resources, we have the population
Speaker 14: work two thirty million now, but what is the percentage
Speaker 14: of that population that can actively read and write and
Speaker 14: understand complex concepts and put them out or actually explain
Speaker 14: those complex concepts. It is a very miniskilling number. It's
Speaker 14: not a huge number. It's probably between forty to maybe
Speaker 14: fifty five percent. Fifty five is pushing it, really, So
Speaker 14: let us stop thinking.
Speaker 8: That we have these and we have everything. We don't
Speaker 8: have everything.
Speaker 14: That is one of the reasons why certain kinds of
Speaker 14: manufacturing cannot happen in Nigeria.
Speaker 1: But the last question, our situation can That's the question,
Speaker 1: do you think we have the potential to have everything?
Speaker 2: I don't have A body don't.
Speaker 8: No, we don't, we.
Speaker 14: Don't, we don't. The thing is it is for us
Speaker 14: to reach that level. When we have the so called
Speaker 14: potential to to to have everything, we need to invest.
Speaker 8: See I keep on seeing this.
Speaker 14: China invested words forty percent of its still investing forty
Speaker 14: percent of its economy after almost fifty years of its reforms.
Speaker 4: See.
Speaker 14: The problem is that in general, we want to think,
Speaker 14: which is what this current government is doing. They want
Speaker 14: to think, oh, let's us do price liberalization, but not
Speaker 14: doing the heavy work of development, which involves high levels
Speaker 14: of investments. High levels of investment both in physical infrastructure
Speaker 14: are more importantly human infrastructure. China has points, but if
Speaker 14: you do it for capital, a distribution of its oil reserves,
Speaker 14: it's not so much. China produces more old than us
Speaker 14: per day. Now China doesn't have very much arable land
Speaker 14: compared to US. But guess what's because of the problems
Speaker 14: they faced in the nineteen fifties nineteen sixties. They invested
Speaker 14: in lots in agriculture, but that is not even where
Speaker 14: they invested in most They invested in lots in the
Speaker 14: manufacturing sector. You and I can remember in twenty eighteen,
Speaker 14: twenty nineteen, how many of us here we're talking about
Speaker 14: Chinese cars today in legal syste chang Dankas China is
Speaker 14: the large export cars in the world. Now they export
Speaker 14: more cars and Japan or my Japan. It is based
Speaker 14: on the investments that they don't. Why is it that
Speaker 14: the property secty is collapsing and now the tech sectory
Speaker 14: is pulling is because.
Speaker 8: Around that of its their period, they switched the.
Speaker 14: Economic model from investing in fixed capital investment, which which
Speaker 14: is essentially real ested into high tech sectors over for
Speaker 14: five years, over for five years, when you're investing forty percent,
Speaker 14: they're still doing it. You today, forty percent.
Speaker 8: Of the GDP every single year is going.
Speaker 14: Into investments you are going to mix strids naders what
Speaker 14: it would bring I'm not sure why we do, you know,
Speaker 14: to sixty percent of what they're doing.
Speaker 2: You see, I'm asking that question.
Speaker 1: Why I ask that question is that even with all
Speaker 1: the interest Nigeria has, right, Nigeria is the largest producer
Speaker 1: of cassava and the whole worlds of millets and the
Speaker 1: whole of in the whole world. So I'm not saying,
Speaker 1: you know, when I say the potential, I mean if
Speaker 1: oider with no power with all this insecurity, there are
Speaker 1: almost five or three what does I see here?
Speaker 2: The Niger the largest prince of.
Speaker 1: In the entire world.
Speaker 2: So there's potential somewhere, right, So.
Speaker 4: They do is so yes, so they do.
Speaker 8: Is a lot of those foodstuffs that are talking about
Speaker 8: for those cultural press talking.
Speaker 14: About a lot of them is largely either because it
Speaker 14: is those things grow so much more in Nigeria because
Speaker 14: of the weather, the latitude of the earth that's that
Speaker 14: we are in and all of that. I would agree,
Speaker 14: especially with the issue of sessionistics, Nigers or not the
Speaker 14: biggest producers of sessamesic. It's not something that we typically
Speaker 14: were growing here before. So we have done some working
Speaker 14: that argue that's to Nigeria. But then in the case
Speaker 14: of Yam, Yam is something that that that grows very
Speaker 14: naturally in Nigeria. Think so yes, we need to invest
Speaker 14: in and in the other side and unit I said
Speaker 14: before about the supplying issues, so if.
Speaker 8: We're invested in that, even those it is.
Speaker 14: I used Channer as an example of how a country
Speaker 14: can come from a channel nineteen seventy six was.
Speaker 8: Poorer than was purer than Sudan nineteen seventy six. Let's
Speaker 8: talk talk about Nigeria.
Speaker 14: Let's talk about out Nigera because Naders has been richer
Speaker 14: than Sutan.
Speaker 8: I'm using the worst African examples that.
Speaker 4: Have always been poorer than Nigeria.
Speaker 14: Now the word pronoun Sudan was in nineteen seventy six,
Speaker 14: but it's a stational. When you're investing forty percent forty
Speaker 14: percent first year, second game, its compounds another forty percent,
Speaker 14: another forty percent before you.
Speaker 8: Know what's going on.
Speaker 14: You're making greater strides than somebody who is one hundred
Speaker 14: points litera than only investing ten percent of the economy,
Speaker 14: which is from list as the issue of the UK
Speaker 14: where they're not investing in a lot, and of course
Speaker 14: the economy now is in the toilet because they're not
Speaker 14: invested in for decades in hiring. That is part of
Speaker 14: what is retails as the country. Imagine if for instance,
Speaker 14: it's what I keep concerning one of the things that
Speaker 14: the new book government can do.
Speaker 1: Sorry I was from.
Speaker 14: I was from around one of the things that the
Speaker 14: Tlie Book of met can do to expand the Nigerian
Speaker 14: economy going forward. It's not those price liberalizations. They need
Speaker 14: to encourage actually encourage companies to invest.
Speaker 8: So giving things like tax, rebuilds tax, the doptions.
Speaker 14: Aggressive tax, the doctions to ensure that the manufacturing sector
Speaker 14: actually and the manufacturnas the ad countral sector and the
Speaker 14: industrial sector is revived. Now I know the local is
Speaker 14: good to say. You know the exist of nationals. I
Speaker 14: think it's a copper. It's an excuse. A lot of
Speaker 14: people who are the government supporters usually use that as
Speaker 14: an excuse, or it is a subnationals. It thinks that
Speaker 14: the federal government itself, the Federal GOMT itself has a
Speaker 14: huge chunk of the plain, probably even the majority of
Speaker 14: the plain. Before you then talk about the sub nationals
Speaker 14: who also even way was managed than the federal government.
Speaker 14: But who stop saying it?
Speaker 8: As you know that there a lot of things that
Speaker 8: are just from the from the subnationals.
Speaker 14: It is also the federal goverment, this current transition has
Speaker 14: go tything to improve the supply side of the economy.
Speaker 14: They look, they just don't prist liberalization, which is like
Speaker 14: the easiest part of reforms. It is it is the
Speaker 14: investment part. That is where legal standards improved. That is
Speaker 14: when price of food would drop. That is when you'll
Speaker 14: be seeing you be seeing tomato period that is maybe
Speaker 14: forty to fifteen IRA and not's the currents one fifty
Speaker 14: two undred era in certain places.
Speaker 8: It is those investments we.
Speaker 1: Gotta, I gotta. I appreciate you, but the room mind, okay,
Speaker 1: than thank you so much for the conversations. I don'tant
Speaker 1: bring a few guys haven't spoken. I got ken, I've
Speaker 1: got torn row ken, you got can a good way.
Speaker 4: Thank you, Thank you very much.
Speaker 5: Agree with everyone.
Speaker 4: What I probably is not to take so much. Every
Speaker 4: time you know has been said, love right, things have
Speaker 4: been said.
Speaker 7: I'm just going to drop this year regarding the discussion,
Speaker 7: which is mainly agriculture, and for me, I don't think
Speaker 7: the government is still serious about agriculture. Yet they are
Speaker 7: not serious yet, not yet, they're sellain things. I would
Speaker 7: like to see that when I start hearing news and
Speaker 7: action has.
Speaker 4: Been taken in that direction, and I know that yes,
Speaker 4: we are on the right path. But one is the
Speaker 4: issue of security.
Speaker 7: Somebody were saying that security is not a problem anymore
Speaker 7: in India.
Speaker 4: I disagree one or that you said. Security is still
Speaker 4: a big issue.
Speaker 7: Until we start having community or listening in Nigeria, then
Speaker 7: I will know that we are serious towards.
Speaker 4: Health, food, you know, self sufficiency. That's number one. Number
Speaker 4: two is the infrastructure for agriculture. I remember doing it.
Speaker 7: Do not understand me in a budger where the demobilitive,
Speaker 7: brilliant idea under minister or conjure weather then to have
Speaker 7: a district it also it was planned to give districts
Speaker 7: where they were they were going to sell lands to
Speaker 7: people who are just interested in either farming or providing
Speaker 7: or processing farm produce or providing.
Speaker 4: Equipment mechanical mechanized equipment for farming.
Speaker 7: It was a brilliant idea to the point that I
Speaker 7: almost invested in that project. Then the lands had been
Speaker 7: sold in acres government was going to provide an infrastructure
Speaker 7: or for that you know, ecosystem to thrive. But at
Speaker 7: the end of the day, it turned out that maybe
Speaker 7: it was just a pet project.
Speaker 4: Of someone who just wanted to get money.
Speaker 7: The appointed one engineum bank and they collected money out
Speaker 7: to get nothing has happened. What's a brilliant idea because
Speaker 7: what that would have done is the government would come
Speaker 7: to the investment providing enabling environment. Beans, investors go, Nigerants
Speaker 7: in the hosporal can come put their money in there
Speaker 7: and then you have a thriving ecosystem where you can
Speaker 7: have fan produce and that would have contributed immensity and
Speaker 7: that could have been a model that would be replicated.
Speaker 4: All across the country.
Speaker 7: Who knows where it would be right now, but that
Speaker 7: has not been done. So number two is the infrastructure.
Speaker 7: Infrastructure including rural roots firms, irrigation. I don't know why
Speaker 7: Nigeria would you tell me that we can only plants
Speaker 7: mass once in a year during the rainy season. Why
Speaker 7: can't we irrigate to have to have me is grown
Speaker 7: four times in a year. And then critical infrastructure is
Speaker 7: also bans you know, code room storage facilities where we
Speaker 7: can store this, this, this, this food produce in large quantities,
Speaker 7: so we don't have to depend on cycle of seasons.
Speaker 7: You know, wait for this season and then when it
Speaker 7: is pro seasing the press charroket and and then you
Speaker 7: have you know, Nigerians going through this problem of food
Speaker 7: inflation and all of that. So that is very critical.
Speaker 7: So until until I start seeing the government doing this
Speaker 7: and putting money you know where their.
Speaker 4: Amount is, then I will know that we are serious.
Speaker 7: But as that today, Calu and everybody in the room,
Speaker 7: we're not serious yet with with with with the agriculture whatever,
Speaker 7: whatever progress see it, it's as a result of this
Speaker 7: strive of Nigerians who are trying and doing their perst
Speaker 7: to try to improve output. But on the side of
Speaker 7: the government as are today, they're only interested.
Speaker 4: In and not balance our budgets, you know.
Speaker 7: And I being I would say fiscally responsible because that's
Speaker 7: that's the pattern we have.
Speaker 1: Seen over the years. We're still not serious yet than
Speaker 1: GI very much interesting. I like the idea, you know,
Speaker 1: the services for agriculture. We need something major like that.
Speaker 1: I think we had it in the past doing Operation
Speaker 1: Feed Night, opertion of Feed the Nations. Sorry, where the
Speaker 1: government will go clear the land to the feeder road
Speaker 1: to rural areas, you know, provide irrigation, provide the fat
Speaker 1: license and then the local farmers can then go to
Speaker 1: that land and farm. It takes the yields off because
Speaker 1: all these income bridges have been taken off. As I
Speaker 1: wanted to go back to doing focus on the royal areas. China.
Speaker 1: The miracle of China that they started from the rural areas.
Speaker 1: They didn't build Shanghai skyscrapers. They went back to rural areas.
Speaker 1: They fixed food, they fixed employment, agriculture. It's only then
Speaker 1: they didn't let the Europeans come to their coast build
Speaker 1: factories and send the rural guys that were already trained
Speaker 1: because they had good schools, good food, good agricultural poses
Speaker 1: in the villages. Then they went to the towns and
Speaker 1: walked in those factories, and then they built Shanghai. So
Speaker 1: we have to start from the rural areas. We can't
Speaker 1: have an economy where gary is expensive. Guida true way,
Speaker 1: in many parts of the countries, it's expensive. How can
Speaker 1: food be expensive in Nigeria? It makes no sense. Think
Speaker 1: about it. Why is food expensive? There's food everywhere. If
Speaker 1: you go to Kebby onions everywhere so rotten. You go
Speaker 1: to tom everywhere rotten, you go to Keby, right, yeah,
Speaker 1: but there is no food. If you go to Legos
Speaker 1: to do your love fries, it to cost you nearly
Speaker 1: minimum wage because all these things don't have trains or
Speaker 1: roads to bring them from those farms.
Speaker 2: To your table.
Speaker 1: And its infrastructure, its value chain, it's financing, you know.
Speaker 1: So it's a lot going on.
Speaker 2: We're gonna get a act together.
Speaker 1: To Niro, Thanks can Toniro? What's your mind? After Tony
Speaker 1: get so sleepy, I gotta run it down, Tony Row,
Speaker 1: You've got the floor toll narrow going once. Go ahead.
Speaker 1: How you doing, sir?
Speaker 4: I'm sure? How do ye.
Speaker 8: Get you?
Speaker 13: Well?
Speaker 5: I I appreciate the topic, disagree.
Speaker 26: I thank god that I wanted to ask a special
Speaker 26: area because I joined this like almost relately openly. But
Speaker 26: I do want to show you do this because I
Speaker 26: want to ask something that's not really what discass said fastky, okay,
Speaker 26: go ahead. So I also understand because I mean, stop
Speaker 26: stop this stalk me stop.
Speaker 5: Yeah, and I bought this day to stop when they
Speaker 5: were you know, hope.
Speaker 4: Here a lot of it last year and often see loud.
Speaker 4: The only thing I got from.
Speaker 5: Dunstop was the EMI.
Speaker 4: That they send you.
Speaker 26: And I've been talking to one of my guys, I
Speaker 26: walks in the bout I'm saying that did not I
Speaker 26: looked at the past years and every other office, I'm wondering,
Speaker 26: what's what's.
Speaker 4: Happening, Like is this how it is? Because I mean
Speaker 4: this shas has.
Speaker 5: Appreciated because our love perhabs. Now I'm going hash to
Speaker 5: on it. I don't know what's going on, Like it's
Speaker 5: a lot of.
Speaker 1: Yeah, that's the that's the that's the walla with one
Speaker 1: you vice shares via public offer, you have to wait
Speaker 1: for the certification and the of the of the investors.
Speaker 1: They have to wait for your certificate before you didn't
Speaker 1: take that certificate and take it the CS here. So
Speaker 1: that's the problem with public offers usually. I know, I
Speaker 1: think it was three weeks ago, was seeing that it
Speaker 1: was delayed and now seconds looking at that list also,
Speaker 1: so I think it's yes, it's been delayed, and I
Speaker 1: believe sec it's now sort of approving that that list
Speaker 1: of subscribers, that's what you are caught upon the best
Speaker 1: way you can do like I said, is that you
Speaker 1: speak to your stock broker or you go to the
Speaker 1: stock registrar and confirm when those shares are out, because
Speaker 1: they will sort of like will advise you. I'm not
Speaker 1: sure if it's electronic you are getting or if it's
Speaker 1: the paper certificate you're getting. Try to confirms electronic better
Speaker 1: for you because it's hits your your position and you
Speaker 1: can then trail if you wanted to trade. If it's certificate,
Speaker 1: you have to get it first, give it back to
Speaker 1: your broker to sertalize for you. So find out which
Speaker 1: is this is paper or certificate And yes there's vinagily
Speaker 1: you have to sort of wait till you get those
Speaker 1: things posted out to you. How that makes sense air, Yeah, perfect,
Speaker 1: all right, But the Nicosie taught for you on what's
Speaker 1: happening and neclusion taught for you. I mean, we've had
Speaker 1: people who go back and forth. Just what I hear
Speaker 1: is that people feel that the NBS inflation data is
Speaker 1: sort of like managed to figure reflects to make a
Speaker 1: time to put gichery or pepper on food so that
Speaker 1: we can eat it.
Speaker 2: It's not really that it's not that deep.
Speaker 1: You've talked about the impact that we have on the
Speaker 1: on equities, on bitcoin, even gold. We've talked around on
Speaker 1: those asset classes, fixed income, what would happen there was
Speaker 1: a blitteredly, a few problems, supply, investments, wastes, corruption, total
Speaker 1: around that and it doesn't tot on onto this topic.
Speaker 4: I think the present thoughts would be that people should
Speaker 4: reflect on.
Speaker 6: All the things.
Speaker 4: The Pascadis space in the past twelve months. Sometimes I
Speaker 4: go back and listen to them because.
Speaker 3: This is that i Alphos said can be good and luggaged,
Speaker 3: Like if you look at investments circle, look at some
Speaker 3: investment opportunities to spook about. Look at Nigeria stocks they've
Speaker 3: been go find us in that despice the ash economic climate.
Speaker 3: So my present is that national knowledge peace. It's not
Speaker 3: for those that have spent hours just listening. I can
Speaker 3: assure you you guys, you might not get return now,
Speaker 3: but there's always a compound effect with knowledge and just
Speaker 3: stick around, you know, just do your work the country units.
Speaker 3: We can talk about the problems, but the truth of
Speaker 3: the matter is that we are also finding walls to
Speaker 3: improve our lives. So hanging spend books, spend time on books,
Speaker 3: you know, Carus book on personal fans helps the other
Speaker 3: books to stay on financial news, spend less time on
Speaker 3: kids making jokes, especially when union are still struggling. You know,
Speaker 3: margument is that if you're eating well, they don't be
Speaker 3: in the circles. The circles that are meant for people
Speaker 3: that are eating well, they have for years.
Speaker 4: It's good to.
Speaker 3: Socialize, but try to spend more time equip yourself because
Speaker 3: if you look at those talks, for example.
Speaker 4: This year, if you look at most.
Speaker 3: Of these talks are at their fifty two eye, and
Speaker 3: he realizes that if investment opportunities still come in, it
Speaker 3: means that your stocks were still in firing to do
Speaker 3: just jumping because people are buying, trying to know how
Speaker 3: to buy, how to invest, and how you notice.
Speaker 4: This, I just really seeople Google search, Twitter search.
Speaker 3: You can search people's Andrew like for examples talking about
Speaker 3: so many stocks. You can just search his name and
Speaker 3: stocks or keywords. You can search money and keywords. You
Speaker 3: get information, listen to space. So I think my co
Speaker 3: part is that I'm going with national knowledge, not allow
Speaker 3: the economic conditions and a ger way down. We definitely
Speaker 3: have to have the optimistic experience where we are criticizing
Speaker 3: our leaders for the betterment of our country, and I
Speaker 3: hope someday we all have something too small about on together.
Speaker 4: I think have a very placeful week.
Speaker 1: Thanks much treat the other Just reader from a guy
Speaker 1: here no information provided by the developer said with the
Speaker 1: rebas as, with these inflation rebase, fixed income assessment offer
Speaker 1: lower coupons.
Speaker 2: And capital may seek equity.
Speaker 1: So he's saying that rates are going to go down,
Speaker 1: so bonds will offer lower rates, and stock market is
Speaker 1: going to offer better opportunities, especially if the MPR is reduced.
Speaker 1: He says weed that Nigeria are better on oil prices,
Speaker 1: respecting our feelings, okay, also better security, improving for trade
Speaker 1: and oil production and for local consumption, saying strong enough,
Speaker 1: I absolutely agree. That's a very good summary that can happen.
Speaker 1: Like I said, this infortient is like a trigger. If
Speaker 1: we can build on lower inflation today, I think we're
Speaker 1: better off for it, even if we agree with those
Speaker 1: I agree with it. If we can build some momentum
Speaker 1: around that infession has been cut down by ten percent,
Speaker 1: and hope we'll get the essamies to start to produce,
Speaker 1: even if it's by subsidy.
Speaker 2: Or otherwise.
Speaker 1: We've got to get consumption at the local level back
Speaker 1: in Nigeria so that jobs are created and the country
Speaker 1: and the economists can start to function again. Hopefully the
Speaker 1: government can then get its tax withiness.
Speaker 2: In naira and I'll have to borrow so much.
Speaker 1: It's already down to the small stake on that level,
Speaker 1: getting those shops, those little factories upritting again so they
Speaker 1: can earn income and they can consume. Without that consumption,
Speaker 1: there's no economy. We're just important and exporting. We really
Speaker 1: have to have that local economy flowing that all level.
Speaker 1: So thanks guys, folks for listening in, atures for joining in,
Speaker 1: and I hope to see you guys here next week.
Speaker 1: We're always here at seven thirty pm Sunday's talk about money,
Speaker 1: economy and of course personal finance. And I hope I
Speaker 1: see you guys here again next week. On that load.
Speaker 2: Guys, have a good one, enjoy your week, keep it
Speaker 2: safe and keep it simple.
Speaker 1: Thank you, good bye.