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Responding to the Biased Reader!

By
Ndubuisi Ekekwe
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0

Comment: you sound so good economically but sound biased politically…can you put me through why I feel that way?

My Response: It is not my fault. Your problem is that you see “Ndubuisi” as you read. If that name is “Adamu”or “Kunle”, or “Obot”, you get different meanings. You have already formed opinions when you see “Ndubuisi” on any political piece. It is your problem 100%. A young man was abusing commenters how I de-market APC for PDP, etc only for me to tell him that my Senator, House, State Assembly are all APCs in Abia State. In other words, my village voted APC. He has not commented since then. Your bias is not the content, it is just that you are reading the author before the piece.

I have done some experiments: pick a political post, put in a WhatsApp Group. Post them with Kunle, Obot, Ndubuisi, etc as the author, check the responses.  The same post will come with different interpretations. That is the problem. Your mind is biased, not my articles!

I had this conversation on my Facebook page https://lnkd.in/eVE8MDU9

Nigeria to Borrow N8.8 Trillion in 2023 to Fund Budget

By
Ojukwu Emmanuel
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0

The president of the Federal Republic of Nigeria, President Muhammadu Buhari yesterday presented the 2023 budget proposal to the National Assembly, in which he proposed new loans totaling N8.8 trillion to partly finance a deficit of N10.78 trillion.

The total budget size is N20.51 trillion which is N750 billion above the N19.76 trillion approved by the Senate and the House of Representatives in the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) passed on Wednesday and Thursday by both chambers. 

According to President Buhari, while presenting the Budget, he said: “We expect total fiscal operations of the Federal Government to result in a deficit of 10.78 trillion naira. This represents 4.78 percent of the estimated GDP, above the three percent threshold set by the Fiscal Responsibility Act 2007. 

“As envisaged by the law, we need to exceed this threshold, considering the need to continue to tackle the existential security challenges facing the country. 

“We plan to finance the deficit mainly by new borrowings totaling 8.80 trillion naira; 206.18 billion naira from privatization proceeds and 1.77 trillion naira drawdowns on bilateral/multilateral loans secured for specific development projects/programs. 

“Over time, we have resorted to borrowing to finance our fiscal gaps. We have been using loans to finance critical development projects and programs aimed at further improving our economic environment and enhancing the delivery of public services to our people.” 

According to president Buhari, he described the 2023 proposal as a budget of ‘Fiscal Sustainability and Transition’.  He therefore noted that the principal objective in 2023 will be to “maintain fiscal viability and ensure a smooth transition to the incoming administration.” 

The intention of the federal government to borrow loans to clear up the budget deficit was necessitated when Senate President Ahmed Lawan lamented on the increasing trend of deficits in the nation’s budget.

The budget deficit in the current 2022 budget is about N7 trillion while the 2023 budget is N10.78 trillion.

Senator Lawan further noted that the situation becomes more unfortunate if the government factor in the Budget deficit estimated at N7 trillion and the grim prospect of its increase to about N11.30 trillion as presented in the 2023 – 2025 Medium Term Expenditure Framework / Fiscal Strategy Paper (MTEF/FSP). 

He said, “Your Excellency, we can reduce the deficit by stopping the oil theft. We can also consider other options to source more revenues for the government. Lawan suggested as he looks for measures to curb the deficits.

With conflicting figures, projections have put the country’s losses from this malaise at between 700,000 to 900,000 barrels of crude oil per day, leading to about 29 to 35 percent loss in oil revenue in the first quarter of 2022.

This represents an estimated total fall from N1.1 trillion recorded in the last quarter of 2021 to N790 billion in the first quarter of this year.

Lawan noted that oil theft has worsened recently as the loss has reached 1 million barrels per day, affecting efforts to meet the OPEC daily quota of 1.8million barrels per day. 

The Buhari’s Last Budget for Nigeria

By
Ndubuisi Ekekwe
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0

First, thank you Nana Kwame for the commentary on the Ghana Cedi piece. I like it when the community comes with ideas instead of mindless emotions (at the comment section here ).

For the second part, Aliko Dangote has to work harder on his image before Nigerians. When you have a company which pays the most taxes and yet whenever someone posts to highlight that achievement, and fellow citizens throw verbal attacks, it is not a sign of respect. My post on Dangote Group’s amazing tax numbers has not gone well with many on my Facebook page 

Then the final one: this is Buhari’s last budget for Nigeria. He has a deficit of N10.78 trillion. We hope May 29 2023 can come faster. Yes, we just lost and wasted 8 years of national development. I cannot feel anything catalytic or transformational which has happened in the last 7.5 years?  I am hoping that Atiku, Tinubu or Obi will run away from these records. They called it the Budget of Fiscal Consolidation and Transition. Consolidating what? National grid failures, insecurities, universities on strikes, Japa Economy…what?  Read the full text of the budget here 

Breakdown of Nigeria’s 2023 Federal Budget – Budget of Fiscal Consolidation and Transition

Scenario Mapping for Resilient Business and Personal Economy at Tekedia Institute

By
Ndubuisi Ekekwe
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0

One of the greatest surprises when I started work as a banker was this: the university system prepared me on how to manage resources for companies but did a very poor job on how I could manage my own personal resources. In FUTO, we studied great topics in Engineering Management like  Engineer Turns Manager, Managerial Accounting, etc. In all those domains, everything was on how to optimize resources for the employer (yes, the company). But none for the village boy’s Personal Economy. That is why at Tekedia Institute, we have courses on Personal Economy Management because you need that knowledge also especially during this time.

Yes, the indicators are everywhere: there is a high risk of massive economic upheaval. Look at the US stock market, look at inflationary elements across economies, look at global energy prices as Russia remains sanctioned, look at the political stasis in Nigeria on currency deterioration, and feel global hunger, triggering banditries, riots and breakdowns of order. People, the global economy is going through a huge redesign; PREPARE.

Tekedia Institute works hard to provide practical knowledge to our learners. Join us today for “Scenario Mapping for Resilient Business and Personal Economy”.

NOTE: Today is the last date to join this current Tekedia Mini-MBA edition; begin here .

Moshnake Pre-sale Gains Popularity as Binance Coin and Raydium Begin Correction

By
TI Partners
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0

The cryptocurrency market has suffered greatly from the bear market in 2022. However, as the industry recovers with coins like Binance Coin (BNB) and Raydium (RAY) taking the lead, brand new tokens like Moshnake (MSH) are set to launch.

Binance Coin (BNB) and Raydium (RAY) already have a lot going on for them, and we’ll explore them briefly in this article. However, Moshnake (MSH) is still developing, but it is already raising a lot of optimism as it begins its pre-sale. We’ll also discuss what to expect from this brand-new crypto project and other details. Let’s get into it.

An Overview of the Binance Coin

Binance Coin (BNB) is the base cryptocurrency of the Binance exchange. The Binance exchange, which is the largest crypto exchange in the market, enables investors and traders to transact using its BNB coin. This coin originally ran on the Ethereum blockchain, but it is now recognized as the native coin of the Binance ecosystem and used across its chain of services.

Interestingly, BNB performed impressively before the crypto crash in 2022 and more than doubled its value from the beginning of April 2021 to the middle of January 2022.

Binance Coin (BNB) also has other great utilities, which explains why users are stuck on it. You can use it to pay for various things online, such as gift cards, cryptocurrency credit card bills, entertainment, travel, and more.

Moreso, the platform is still keeping up with its token burn practice to reduce the coins in circulation and boost prices. It is also looking into other possible ways to serve its users better.

Binance Coin (BNB) is one of the many projects recovering well from the crash. It is expected to bounce back in no time.

Raydium’s Promising Return

Raydium (RAY) is a Solana-based automated market maker (AMM) and liquidity provider built for the Serum decentralized exchange (DEX).

Unlike other AMMs, Raydium (RAY) offers on-chain liquidity to a central limit order book. This means that money deposited into Raydium (RAY) is processed into limit orders placed on Serum’s order books. As a result, Raydium (RAY) LPs have access to Serum’s order flow and existing liquidity.

The protocol has a native token, RAY, used for several purposes, including staking to earn protocol fees, receiving IDO allocations, and voting on protocol decisions.

The token has struggled through the crash and is currently showing bearish signs. There could be a turnaround for RAY in the coming bull run.

Why Moshnake’s Presale is Trending

Moshnake is a new Play-to-Earn (P2E) token building on the Binance Chain. It is a community-driven project aimed at bringing back the classic and legendary Snake gaming experience.

The project introduces NFTs to the good old game, requiring players to own at least one of the Moshnake NFTs: Viper, Mamba, Krait, and Cobra. Players can enjoy game modes where they simply move their snake to eat eggs and pick up other collectibles in the game arena.

However, the game allows for team combats where you can form groups of twos and fours to play. You can also access additional entertainment options within the ecosystem.

You’ll need the platform’s Venom (VEN) token to play the game, but its Moshnake (MSH) token will be used for transactions and governance.

Its pre-sale has already begun, with token prices selling for considerably less than what they could be when Moshnake (MSH) finally launches. This could make sense if you are looking for cryptocurrencies that could give you massive returns.

Conclusion

All fingers are not equal in the crypto space. The recovery rates of Binance Coin and Raydium (RAY) compared with those of some other cryptocurrencies clearly depict this fact.

However, you can never go wrong with a potential token’s presale, as you could multiply your money massively when you invest right.

Check out these links for all you need to know about Moshnake (MSH).

Website: https://www.moshnake.io/

Pre-sale: https://www.moshnake.io/how-to-buy

Twitter: https://t.me/MoshnakeOfficial

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