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#FranklySpeaking: POPULISM AND THE FREE LUNCH ENTITLEMENT





When Mrs. Laura Bush first came into the White House and received bill for the food her family consumed she was shocked to the marrow. The USA, the worlds number one symbol of economic strength can't even afford to give free food to her President and their family. With a GDP of about 19 trillion dollars and a per capita income of $58,000 dollars, the United States Presidents only have free accommodation in the White House but pay for everything they need from tooth paste to Laundary . 

Ironically Nigeria with a GDP per capita of about $2,000 dollars, will spend 18.1 billion (see 2016 budget ) to run the presidential villa in 2016, an amount 11.1 billion higher than the 6.6 billion, last government spent in 2015 ( see 2015 budget). I'm  sure many people do not know that about 43 states charge prisoners for food they eat in US prisons. Some states like Florida have a $50 daily detention fee. Arizona even adds your medical bill if you fall sick in prison and take medication. The land of freedom offers you nothing for free. On the other hand, there is so much free lunch in Nigeria that some states aren't even allowing its citizens, the responsibility of paying for their own refuse disposal. 

In Nigeria, one government, in a bout of populism, demolished all the toll gates across the country and roads deteriorated. The wave of free education swept through our governors some few years back as they struggled to out do one another to lunch the populist program. But look deeply inside every free education program and you'd see its part of some government officials strategy to steal public funds. These are huge fraud avenues as so much is appropriated to get the lowest quality education and because it's free, nobody questions the government. In a south south state, an ex governors wife made billions over invoicing free school uniforms, free school bags, free sandals and free books. The hallucination of being a wealthy nation was so intense in the 70's that an ex head of state said our problem was not knowing what to do with money. 

Now we are in a recession. If this continues in three consecutive quarters, we'd go into a depression. 

The Nigerian economy is currently in trouble with GDP growth rate declining to all-time low of -0.36 percent. Inflation and unemployment are currently rising at rates of 16.48 percent and 12.1 percent as reported in Q1:2016 National Bureau of Statistics report. In spite of this, we are still not only sponsoring pilgrims, but also subsidizing their foreign exchange currency. Let's look at Venezuela, country that has 18% of the worlds proven oil reserves, nearly 300 billion barrels of oil. This is supposed to be a blessing, but Juan Pablo Alfonzo, a Venezuelan diplomat referred to it as 'the devils excrement'. 

Venezuela felt so rich at a point that former President Hugo Chavez's government was giving out free laptops and washing machines to citizens . Houses were being built for citizens as mega hospitals were built and catered for the citizens for free. Chavez populist government excited the masses who were enjoying free things without really improving themselves. Venezuela became a country of the 'happy poor'. Private companies were expropriated and became national assets as the citizens hailed the populist actions. Prices of goods were fixed as government used oil money to subsidize the people's ostentatious taste buds ( Remember the Nigerian subsidy regimes ). 

Today Venezuela has become hell as oil prices dropped from $140 to $40 dollars. Ration lines are disappearing as the rations have vanished. Mega international corporations like Cocacola and Macdonads are closing shop. The country has dried up and become a failed state equal to war torn countries like Iraq and Syria. Crime rate escalated and 96% of the crimes are never investigated. The citizens cry as they sight food after trekking long hours to Colombia, while the government struggles to exchange oil and food with Jamaica. 

The irony is that despite this, the government still spent 400,000 dollars recently just to attend Fidel Castro's birthday. The major challenge in Nigeria now is that the current government was elected under a populist people's mantra. Promissory notes of feeding school children and paying 5000 naira to unemployed youths were sent to the masses. In a country that has lost its major revenue earner, the best decision government would have taken now is to begin the privatization of some of its national assets. 

The sale of LNG alone can give the government up to $20 billion dollars and this will automatically crash the exchange rate to a little above 200, fund critical infrastructure which spiral effect will bring back the vanishing middle class. But the government is rather planning to acquire more national assets by re-establishing a government funded National airline carrier like Nigerian airways just for the sake of national pride and populism. What government has failed to understand is that United States airways, Kenyan airways and even Ethiopian airways are all owned by the private sector. After selling off the refineries, President Yardua in a bout of populism cancelled the sales as Nigerians jeered. 

Today, the portharcourt refinery is still producing at 20% capacity while the privatized Eleme petrochemicals which was at the same capacity is now at 80% capacity. With a huge budget deficit, it's ironical that we'd rather borrow $20 billion dollars from China to fund the budget rather than privatizing national assets that are run like civil service companies. Even government officials know that government has no business doing business, but government has to remain popular and this automatically maintains our free lunch entitlement mentality. God will help us .



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Comments

  1. Brilliant article mr frankly speaking.

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    Replies
    1. I wonder why when people see an article like this they immediately believe that it was written by a man. It's not just the picture thelma used, in the previous frankly speaking posts everyone just assumed it's a man once they read it. Why? Is it that women are not smart enough or what?

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    2. Women are even smarter so pls take note. People are only assuming it's a man cos of the above pics...

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  2. Wow. Quite educating . I wish someone can let the government read this

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  3. I nodded approvingly all through but when I saw the concluding statement "GOD will help us", I shook my head. This is why Nigerians are peculiar people. We are specialists in analyzing our issues but when it's time to discuss solutions, we point to government or call on GOD for solutions we could easily proffer on our own.

    Some months ago Sasha Bone and I had an argument on BDCs which was a Blog debate. Both of us agreed that having a parallel market was totally unacceptable and wondered why Buhari hadn't (and hasn't) done anything about eliminating them, seeing that they're practically the main *government* that determines the health of our economy. But while I proposed not patronizing them to frustrate their business, she said she's more concerned about the value of her money, hence will patronize as long as they are available.

    We are all condemning subsidizing FX for pilgrims, which is a prudent call. But how many Nigerian Pilgrims will voluntarily reject subsidy? Even those complaining can't swear they'll reject the obvious profit to be made if they are pilgrims. And has anyone noticed that Religious Groups have all been mute since this issue was raised?

    There're many similar issues we could collectively solve on our own even when the government creates policies majorly to score points for itself rather than for the benefit of the people, but we're Nigerians *unfortunately*, and we like awoof. But awoof sef de purge belle.

    Lovely analysis though..

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    Replies
    1. Memphis I disagree with you. The writer did not just say God will help us and fold his arms. He has already expressed his thoughts intelligently and even offered possible solutions which is the best he could have done. I think 'God will help us' was just his was of bringing this very informative post to an end.

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    2. Anon I didn't condemn this write up or the writer, I praised the write up twice. The basic solutions proffered here centre mainly on the private sector, a sector he's suggesting government MUST involve, and that's the naked truth. But then what if government forever refuses to do this, we then end with "GOD will help us"? That's a typical phrase for Nigerians who have lost every possible hope in themselves and government, and I find the statement depressing. GOD will only help us when we're sincere with ourselves. Take, for instance, the issue of refineries. If government refuses to privatize them or sell LNG, are you saying Nigerians cannot get licenses to build local refineries or invest in Gas? And it's not as if this is beyond us, as many Nigerians do these abroad. So why is it here we're waiting for government and GOD? It's like complaining you don't have women in politics yet millions of Nigerian women aren't even ready to take aggressive action on that issue. Maybe they too are waiting for GOD. Lol.

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    3. Memphis? Ur agreeing to the write up? Oh my...

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    4. "Oh my" what? Lol. Craze geh.

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    5. Memphis and Sasha bone! Get together already! πŸ™„

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    6. They've gotten together on religionπŸ˜‚πŸ˜‚πŸ˜‚

      Meanwhile great post, I enjoyed reading cos you tried to make points from perspective albeit with spiteful insinuations about how the present government is running the nation... Just as you have made pointers, the fact that you really aren't privy to the reality of things as it is in the government house is something you should also factor in.
      One thing is for sure, we all know about our issues, presently. Solving them requires apt decisive agendas and still we are not privy to these actions by our government... Na to sit down watch as it unfolds. We still can't start blaming situations imposed on us by the greedy ones of the past in the present government's dispensations as we move forward. That would be prejudicial.
      So Frankly speaking, please let's wait to behold our future reality with HOPE. Theres nothing more we can do. There's global recession and you think we won't be affected? Especially as a developing nation? C'mon.

      Delete
  4. Labour and all them Wailing wailers aka Jonathan lovers will crucify this government if they dare!!!!
    Buhari started small small with breaking NNPC, have we forgotten what happened? They were going to go on a strike. Truly, May God help us, cos this country pass man power.
    Loving Nigeria from Manitoba, Canada..

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    Replies
    1. Loving Nigeria from Manitoba, Canada..

      My dear, Na him sure pass ohπŸ˜„πŸ˜„πŸ˜„πŸ˜„

      Delete
  5. Memphis, the writer clearly suggested that this government won't do all this because they are also populist in nature. God will help us really because there is not alternative .

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    Replies
    1. There's an alternative; you, me, Nigerians. That government isn't ready to work doesn't mean we are handicapped, especially on issues that aren't beyond us. That's the point I'm trying to make here. GOD can only come in if we're sincerely beyond redemption.

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  6. Memphis, how can you and Sasha bones agree that government should so something about the BBCs. It's the same thing we are talking about, why should it be the job of the CBN selling fx . The dollar exchange rate volatility is simply caused by the laws of demand and supply . We simply don't earn enough FX and the too much naira chasing dollar led to the exchange rate being high. What you and Sasha bones are suggesting is the same messy error of fixing the exchange rate which worsened our situation. Remember the financial times article which mocked our CBN when they sent people to cut tree were money changers operated . Please BDCs operate everywhere in the world and suggesting you do away with them or fix their rate is akin to PMB and Hugo Chavez policy of price fixing which automatically led to gross scarcity .

    ReplyDelete
    Replies
    1. Once upon a time the BDCs and CBN/commercial banks were almost at par in FX rates. The difference wasn't even up to N6. BDCs are being supplied FX for reasons I can't fathom. Today, just because there's scarcity of FX, some BDCs have started sourcing elsewhere...at least that's what we hear..on paper. Reality is that commercial banks are still supplying them the bulk of the FX. This is one thing killing our economy because this is clearly some kind of sinister transaction. Since BDCs are CLEARLY being supported (and sponsored) by government, is it wise they should continue existing? The other BDCs you mentioned, do they get sponsored by their respective governments? I've tried to understand the relevance of BDCs here and can't still wrap my head around it.

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    2. BDC's might operate everywhere in the world doesn't mean their operations in Nig is helping both our Naira and our economy. Friends who are leaving Nig for America change all their Naira into $$ cos they knw their naira wld be useless once they airborne but the reverse is the case for those coming into Nig. The more $ they have,they more they knw they wld make here. Why don't they convert their $$ into Naira while in America before coming to Nig??
      We have almost every tom-dick-hary-and-Jane peddling forex like they selling recharge cards and I mean this literally.
      What's stopping commercial banks from being the sole sellers of forex? I remember SLS banned receiving western union over the counter. Your forced to collect the naira equivalent (at the going exchange rate)
      My point is I doubt if Naira is peddled in other countries the same way forex is peddled in Nig and as long as people (like myself) know there's a higher value if they exchange with a BDC,the more they wld keep patronizing them. Who no like beta tin?

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  7. But I cannot believe that nobody is holding APC accountable for the lies they told during election campaign. Many of us voted Buhari into power based on those promises (lies) yet up till date nobody has come forward to offer any explanation or apology, instead it's only more lies and myopic policies. If you talk, blind loyalists will call you a wailer. It is a mystery to me how people can support a government that deliberately fooled and continues to fail them.

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    Replies
    1. My dear,you sef check ur comment. So u actually want the govt to fulfill it's campaign lies (promises) to you? Habamana...

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    2. This is one reason receiving cash and other gratifications in exchange for votes would continue. The "let's collect what we can now because when they get there, they would not do any meaningful thing for us" mentality.... Nigerian Politicians are devilish lots.

      -F

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    3. Anon, you are part of the problem. This is what the poster was subtly basing the article oh. Populist government. I'm glad the apc government have tried to make that reality as minimal as possible. Unlike when one president reduced fuel price going into election month for populism sake

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    4. ...but one governor now minister of 3 did a national calculation on why the said fuel price shld be lower still (and the populace jeered along as they did during subsidy protest).
      oh well...

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  8. Memphis, CBN selling dollar to BDCs is not in the least our problem . Remember we once had a second tier foreign exchange market . The BDCs are authorized operators and they can also source their dollar from anywhere . The problem remains that we don't earn enough forex . Ben

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    1. Bros, if you don't earn enough FX and still allow BDCs determine the direction of your economy, isn't that a major problem? I'm not against BDCs sourcing their $$...infact, they decided to source their $$ elsewhere when CBN no longer supplied them on Buhari's orders. I still maintain that BDCs should be scrapped, and if FG is reluctant to do that, Nigerians should reduce patronizing them.

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  9. Sasha bones, if you land at foreign airports with your naira , you'd see BDCs at th airport and you can change to the local currency you are visiting , including dollars.

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    1. But u wldnt see BDC's in every street corner and forex being hawked like we do here. Like they are sold literally like recharge cards here in Nig.
      Theve even outrun the number of commercial bank branches in Lagos. Some don't even have an office space. Under a tree or roadside and they good to go.

      If the Lagos state govt cld regulate okada's, I believe the FG shld regulate (and infact scrap) BDC's temporarily.
      We know how they run. Somewhat like the almajiri and fulani herdsmen system. There's a "chairman" behind all of this and as long as they are legal,expect to see them on the increase..

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    2. How does that make dollar scarce? In simple economics terms,isn't it better to have more operators? I don't see how BDCs are a problem to our exchange rate hike. The reason is elementary. We simply don't earn enough fx. Lets stop running from pillar to post.

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    3. You are quite correct Sasha Bone. Where else in the world are currencies advertised and sold at every popular junction and road side? BDC's are killing the Naira.

      Nigeria, as we all know, is a negatively peculiar nation. We are a population that hardly conform to theories and principles which are effective else where. I believe a way to go is to firstly look inwards and design a kind of government which can work for the kind of people we are. Clearly, both Democracy in its current make-up and dictatorship are not for us if we must grow and later develop.

      -F

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    4. Quick question: the BDC's that are found at airports in other countries,do they source for our Naira at their CBN like we source for their $$ at our own CBN for the transaction?

      If our CBN claims to lack $$,whats their business selling it to BDC's?
      Where did the pilgrims get their approved $$ from? BDC? CBN or local bank? If we have no BDC's,those pilgrims who were mandated to collect a minimum of $700 for their travel wld be forced to exchange the $$ they didn't spend at their local banks when they return as opposed to a BDC (cos we all know inside our heart,mind,chest and head that no one is gon spend all their forex)

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    5. F, Please the BDCs have nothing to do with dollar scarcity. Nigeria simply doesn't print US dollars and we aren't earning enough. The government should do something drastic to earn US dollars and the writer suggested something which I think its very correct. Focusing on BDCs is very childish. Even if they are one million Mallams changing money everywhere, how does that affect the exchange rate? Ben

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  10. Beautiful, beautiful write up.

    -F

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  11. Very intelligent write up. Thelma this is my new crush on TTB, I want to buy him a drink for this post. I know he's not writing for the write right money but I dont even mind giving him from my pocket. It's thinkers like this we need at the frontiers of government.

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  12. So deep and well analyzed write up.The journey of a thousand miles begins with a step and we are not even taking that first step yet.I keep feeling like the appropriate authorities ain't as concerned as most citizens,like they cnt foresee the road to a permanently crippled economy we are treading already. Only a timely intervention can revive Nigeria's economy.


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  13. I loved the write up. Succintly out and beautifully written. I've come to realise that outside the greed that ails us all, another fault of ours is the selective copying of another person's system of government. Why can't we reasonably copy the smart points of the governments of the developed countries?

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  14. Sasha bones, you are partially correct . The CBN shouldn't be selling fx to BDCs. It should only be to commercial banks, but lots of CBN directors have their own BDCs, thus, the number of BDCs has grown from 74 in 2005 to over 2000 today. It's a huge business, but government has allowed it thrive over the years , but at the same time, when you allow banks alone, they'd still hoard and sell only to cronies , worsening the scarcity and automatically increasing rates. The CBN suspended these sales early this year but had to resume again, their reason being to bridge the gap between the interbank and pallarel market . But selling or not selling to BDCs truly is not the challenge now. In fact, when the CBN stopped the sale, the pressure on demand was much and the price rose instantly. However, the monetary policies of th CBN are quite worrisome. Yes, we are in a terrible weather , but the actions of the pilots will determine if we'd crash or survive . So far, they have been touching the wrong gears. This recession would have been avoided .

    Frankly speaking .

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  15. Memphis, from what the writer is saying, Nigerians might be suffering the recession but the presidency will never suffer it. You ousted a government for spending 6.6 billion on feeding the villa, you came and increased it by 11 billion and yet blind supporters are mute. Nigerians are regretting this horrible mistake , but blind support and arrogance will not allow many see it. Don't you know that it's only God that can help us? Does this government look like it can change anything around ? Like one commentator said, it's a case of a bad weather and very horrible pilots .

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    1. Lmao. That I agree explicitly with what the writer has said doesn't mean I'm one of those regretting voting for Buhari. Is it a "mistake" that Boko Haram no longer has control of 25% of our territory after 1 year? Or a "mistake" that over N2 trillion stolen under GEJ has been voluntarily returned? This isn't a Post for us to start listing "mistakes" because they're many. Lol.

      We keep complaining and shouting at government yet when we find ourselves in these situations were we gain at the expense of economic growth, we gladly compromise, and you think GOD will help with this kind of sentiment? Once again, GOD will not help us, because we're not ready for help.

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    2. Two trillion stolen under Jonathan returned and we are in a recession? Lol. This is the most unintelligent comment that hailers make. Your government is struggling to fund a huge budget deficit and you claim they ahem recovered two trillion. Two trillion and they want to borrow money from China to fund the budget?

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    3. Mind you, Boko Haram never had 25% of our territory. Bros, 25% of our territory means they controlled about 230,000square kilometres. REALLY? Bucharest have a horrible sense of exaggeration. So if you divide Nigeria into four, Boko Haram had one part. Hahahahaha, yet you guys produced huge votes from Borno and the north east states. That INEC could conduct elections in all the LGAs in 2015 should tell anyone that this is a huge lie from the pit of hell

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    4. Wonderful. Haha. So they told you recession started with Buhari? They also told you our budget is N2 trillion so we shouldn't borrow? They also told you Sambisa, Borno, Yobe, Bauchi and Adamawa don't make up over 33% of our territory and Boko haram were in control of more than 90% of this zone? They also told you INEC gave results that were up to 10% of registered voters in this zones? This is what someone has been telling you? You're really funny.

      Before you talk about exaggeration, take a good look at your monthly Fed. generated revenue, compare with what you had before. Also note that Akwa Ibom and Anambra have been paid funds they used to execute Federal projects while your hero was monitoring Oil at $140/barrel. All contractors in NDDC and Eastern Nigeria have been paid and have resumed work. States are still being bailed out as we speak. So N2 trillion isn't a claim. Always be sure of your facts before you jump into unnecessary argument. That this government isn't getting most things right doesn't mean the last one was anyway better. The last government claims "vibrant economy" yet owed teachers, owed ASUU, owed State governments, devalued our Naira TWICE without viable results, couldn't buy weapons because Dasuki became Santa Claus...biko, leave heroic matter out of this Post.

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    5. Just when I was praising Memphis he just had to show himsef...

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    6. Hahaaha. Bros, a recession is measured in quaters and the decline in growth in two quaters is what led to this recession. Don't be deceived by APC propaganda of 'it wasn't me'. Im a Buharist and voted him, but I can't continue deceiving myself. This government seems to be groping in the dark. I cant even imagine if they'd get it right. By the way who told you that NDDC has paid all their contractors? From where? Look,Im an nddc contractor, so don't say that again in public. South east roads, have you seen any contractor working on south east federal roads? Yes, we wanted Jonathan out, but I hope we haven't gotten it completely wrong.

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    7. Whatever gain made by Boko Haram reduction in attack is aggravated by Fulani Herdsmen who even strike deep outside their northern region like Enugu, Delta, Benue and Lagos. Anyone hailing this government must have his tongue so so deep inside Buhari's diapers wearing arse that, he can no longer see reality. Nonsense.

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    8. Oh, now you claim to be an NDDC contractor and a Buharist so you can dispute what I've just written? Muhahahaha. Well done bros, but no vex, that will not fly. Your 1st 2 comments are actually Gejite and these latest two are *propaganda*. That won't fly biko. Buhari has made mistakes with regards to economic policies and any reasonable person can see that. But coming here to berate him with words like "This government seems to be groping in the dark. I cant even imagine if they'd get it right" and telling me Recession is in phases, it shows you weren't even going to understand the predicament we'll be heading to prior to his tenure commencement. Please kindly regale us on the way forward since government "groping in the dark" actually means:

      - diversifying from Oil to renewable energy and agricultural options.
      - encouraging local product manufacturing and patronage.
      - securing a Yuan deal that would ease $$ demand.

      Oil is now $40, your refineries are outdated and ain't working and very few Nigerians are willing to build here. Your buyers have virtually disappeared. With Crude Oil being the only commodity getting us FX, tell me what YOU will do in this situation since you're obviously smarter than government.

      As for the herdsmen issue, please don't even start. Buhari has failed in that aspect but trying to make it a new version of terrorist activity taking over from Boko haram will also not fly. This issue is age long.

      Lastly, I'm not a hailer of Buhari as most of you keep tagging me here. Yes, I voted him and will do that in 20 heartbeats, but when I see something wrong with his policies, I speak up. I voted GEJ in 2011 but he clearly implied he was ready to condone corruption and wasn't serious about security issues, as well as neglecting the ND and SE. GEJ also wasn't firm in most of his decisions and I finally lost faith in him by mid 2014, meaning I gave him 3 years. I voted Buhari and all of a sudden, 1 year on, I'm a hailer? Lol.

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  16. Nwando,why are they spelling my name "sasha bones"? *wailing*

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    1. Hian... What is Nwando own inside Na... πŸ˜‚ πŸ˜‚πŸ˜‚πŸ˜‚

      Bone thugs noni

      Delete
  17. Very insightful read. Thelma, please who is this guy? Id love to get his contact.

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  18. I thoroughly enjoyed this post and the comments.

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  19. Memphis please put a sock in it and admit that this administration is a failure and a fraud. All this your grammar isnt going to change that fact. The boko haram that you are shouting about upandan,who was sponsoring them?

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    1. Since you obviously don't understand my grammar and point of view (for reasons best known to you anyway), let me repeat myself...one last time.

      Everything the writer wrote is NOTHING BUT THE TRUTH meaning I AGREE WITH HIM/HER. My only problem with it is asking for GOD's help when we're not even sincere. Are you satisfied?

      BTW, who is sponsoring boko haram? Lol.

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    2. Who big grammar Don epp...Lol

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  20. I like the reference with Venezuela, today news reports shows that the president has asked for extra powers. Just the same thing Venezuela president did. Did you read the law and know your powers before you became President? Bihari is just a punishment to Nigeria. Na wetting fit us be that. Mtcewwwwwww.

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  21. As an Emir, I can sit in my garden and make phone calls to access $10M at N197 per $ then sell it off at nothing less than N300. With just a phone call, I'm making a profit of over a billion Naira. That is what people are doing now. Any system that allows you sit in your garden and make a billion Naira without investing a Kobo is a wrong system."
    - Emir of Kano Muhammad Sanusi II

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    1. When I saw this statement on twitter, I was utterly shocked. Do we see why BDC's shld be scrapped? (and traditional rulers too,cos I neva sabi their work for this country).
      If there are no BDC's,he wldn't sell to them. He wld be forced to sell back to commercial banks at a lower rate of maybe N195 even.

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    2. Sasha Bone, its not a function of BDCs, Sanusi was lamenting the crude capital control measures of the CBN which has created the wide margin between the interbank and the parallel market.I think you are missing the point, Bureau D Change exists all over the world in a free market enterprise. Enter any country in the world and you'd see Travelexb and a lot others, these are BDCs dear. Why Sanusi could do this is because the CBN now sells to privileged Nigerians at CBN rate and you can't control the fact that they won't sell it at the black market because the profit margin is too high and tempting. Are you aware that the CBN sold almost 200 million US dollars to Dangote at 197 naira when the black market was 350? Just do the maths and blow your mind if Dangote decides to just sell one quarter of that on the black market. The challenge is not BDC, it is capital controls which the CBN adopted as a result of the Presidents ideology. Yesterday, Prof Soludo referred to it as confusing trial and error of a failed Neo-socialist command and control policy regimes of the 1960s and 80s. (Frankly Speaking)

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    3. FS,i get you but in the same vein where do we (read CBN) limit capital control with supporting entrepreneurs and the likes of the privileged people like our Emir,politicians and co?
      If BDC's operate all around the world, what controls do their respective countries put in place and use to prevent what's happening here from happening to them? Surely they also have entrepreneurs who cld wanna pull the same stunt the Emir said. No?

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    4. Sasha Bone, capital control is actually crude and defunct and serious minded countries don't practice it, so this kind of situation won't happen there. In these places, the interbank and the parallel are almost the same or some fractions maybe a few cents different. CBN has put itself under a lot pressure through this capital control by fixing the naira at 197 when that wasn't the real value. In contemporary economics, the value of the exchange rate is left to the dictates of the laws of supply and demand. So in answer to your question, the policy that prevents this kind of thing from happening in other countries is simply that they don't fix or peg exchange rates while the real value will be much higher in the parallel market. I hope Ive answered your question. Have a nice weekend. Frankly Speaking)

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Though I'm okay with chemistry class I approached him to coach me for
the Quiz that was coming up, we found out that we had this
great chemistry between us.. hehehe both the covalent and
electrovalent bonds....

So one thing led to another till one unusual Saturday. I invited
him to my house and he came. The guy got swag, he even came
with a packet of durex condom.
We talked for a while and and and and and and
Kai!
See how you are serious dey read this story....!
My…

...

Good morning people! 
Just checking in to sign the register. Lol. It's been a very busy week and it looks like it might be an even busier weekend. I was hoping to get some writing done when I got to the airport yesterday but I even almost missed my flight. It was hopeless trying to do any work on the plane as it was bumpy af, and this toddler behind me wouldn't stop screaming in piercing shrieks like he was being exorcised. 
I got into town pretty late and needed to keep an appointment ASAP. I'm heading out right now and it's going to be a long day, but thought I should drop this first. 
Have a splendid day. Im'ma be back soon.

THE ‘NEW’ SIDE CHICK: I WAS HER

A side chick is commonly known as a mistress or a woman that’s romantically involved with a man who is in a committed relationship.  However after doing some reflecting, I realize that’s not the only type of side chick.  I want to discuss “the new side chick”–a woman who decides to stay by a man’s side after he has expressed his lack of relationship intentions with her through his words or actions.  So many women have made this mistake at least once in their lifetime, and unfortunately I’ve done the same thing. I like to think of the new side chick as an appetizer.  You’re there just to satisfy the immediate appetite of the man, but as soon as that mouth-watering entrΓ©e comes out to the table, you will get pushed to the side, literally.  Why?  Because that entrΓ©e is what he really wanted; he went to the restaurant to order steak, not hot wings.  You were just a placeholder, fling, temporary commitment, or  maybe even just a “good ol time” until what he really wanted was presented to hi…

Shhhhhhh....

I'm in an amebo mood tonight. Don't ask me, I honestly don't know why. Also I'd like to share too but I'd do that anonymously in the comment section. Tonight I want to talk about secrets. It's ok, we can all be anonymous. 
Is it true that EVERYBODY has a secret? 
Is there anyone here who doesn't have a secret? I'd really like to know; You're a completely open book and there's not ONE thing about you that you wouldn't mind other people knowing about? Please raise your hands up. 
And for the rest of us, what's something about you that no one knows, or very few people know? Who's got a dark secret here, or a weird one, or a funny one even? I really don't mean to be invasive but I don't want to be the only one sharing, plus I think hearing other people's secrets is quite fun, don't you think?

Let's Be Random Together! (Open Keypad).

Hey guys, a while back blog reader F said something about creating an Open Keypad post, where you can write whatever you want in the comment section. I thought it was a fun idea!
So who is interested? Comment on anything you feel like, ask me or anyone a question, talk about how your day went, your job, your interests, tell us something about you that we don't know, share a testimony with us, rant about anything you feel like, talk about your crush/boo/spouse/relationship/marriage, challenges you're facing, ANYTHING AT ALL! 
I'll only make one request; that we stay civil. 

(F it was you who made this suggestion, right? I'm not too sure and I can't even remember the post the comment was made on). 
BTW please Ejoeccome out come out, wherever you are!

One More Post...

Adventures, Fun, Friendship & Laughter at the TTB Hangout (Lekki Conservation Center).

Nicole to Clare: mummy lets go. I want to climb that ropy thing!

Isn't Clare beautiful?!

Uyi et moi. Clowning. 

Mother & child. 


Scary af! Trish on the ramp. The chica loves the outdoors so much, she was like a kid in a candy store. She and Uyi took this walk twice! More power to them, you can't pay me to do this a second time.


Uyi & Tiwa

Giveaway Finale!

Happy Sunday y'all. 
This is the conclusive part of #WCG. 
All the N25,000 recipients have received their cash.
All the students have also received their N10,000. 
Once again guys please comment under any of the posts, or this one that you've received your money. Thanks. 

So moving forward, this final giveaway contains 
1. N10,000 for 5 people. 

2. 3 kimonos from Julian's dressmakers. 
3. 3 pairs of Palm slippers from WaleOnibata. (Gents) 
4. 2 pairs of shoes from Courtney's Closet. (Ladies. Size 9 and Size 11). 

5. 1 human hair wig from Gabby's Wigs'n'Weaves. You pick from one of the wigs below. 
6. 3 cakes from CakesandCream 

7. A getaway at CitiHeight Hotel Ikeja for 3 people. (Who can each bring one person along).  


As I said earlier, Kon has already won a stay at CitiHeight and Clare, a kimono. So those gifts are now available for 2 people each. 
There is no competition. We are only going to play a game. 
I have each gift item listed out in numbers. Number 1 to 100. …