Tobi

chase dreams

[Tobi @cdtobs]

Keep going

[Tobi @cdtobs]

@sama Just talk to your family man

[Agbado master @dammy_richardz]

@OmoGbajaBiamila They don’t want anything. They are useful tools in the hands of global elites who are in need of resources.
War and chaos guarantees them to swoop in and take whatever they want in the name of fighting terrorism. Terrorism that they created.

[Tobi @cdtobs]

Time to bring on Dan burn

[Tobi @cdtobs]

@cecild84 Seniorman

[Chetuya Chinagolum @Chetuyachinago]

A prominent Nigerian journalist is currently weeping on live television over the devastating economic hardship ravaging the country. According to his emotional outburst, Nigeria actively lent hundreds of millions of dollars to the IMF and the World Bank during the 1970s, but today, the country is plagued with a catastrophic budget deficit, a crippled currency, and must continuously beg and borrow from those same institutions just to balance the books.

However, as painful and tragic as this economic reality is, we must have the courage to call this exactly what it is: performative journalism. I consider every genuine, conscious intellectual in Africa to be an ideological soldier, whose sole duty, mandate, and historical responsibility is to shed uncompromising light on the structural truth, expose the mechanics of power, and push a relentless enlightenment campaign through their writings, broadcasts, and public speeches. Instead of shedding dramatic tears for the cameras, what Rufai Oseni should have actually done is use his massive national platform to remind Nigerians that this current crisis is simply another devastating form of neocolonialism.

In 1974, OPEC was the supreme, undisputed kingmaker in the global oil and gas industries, controlling international energy prices and dictating exactly how the world's most treasured energy resource should be managed. While many Western economies were struggling, suffocating, and facing severe recessions in the 1970s, OPEC nations like Nigeria were rapidly growing their foreign reserves, as hundreds of millions of dollars in cash-crop oil revenues flowed into our economy every single day. This was the exact moment Western banks and international financial institutions sent highly trained economic hitmen to these newly independent, oil-rich nations. They actively encouraged Nigeria to lend its massive capital to the IMF and the World Bank to help other struggling nations (which were almost exclusively Western European powers), and directly persuaded our leaders to invest their oil revenues back into European banks. Nigeria, under the naive, submissive leadership of General Yakubu Gowon, eagerly accepted this trap, sending hundreds of millions of dollars in interest-free loans to help stabilize the economies of Europe. At this highly lucrative point in our history, there was not a single functional domestic refinery in Nigeria, no world-class scientific research institutions, no robust road networks connecting remote agricultural villages to the cities, no stable electricity grids, no modern healthcare facilities, and no industrialized agricultural sectors. Yet, Nigeria was flatly told by Western economists that they were insanely rich and should be lending out their capital. Gowon enthusiastically agreed, notoriously boasting to the world: "We are so rich we don't know what to do with money."

Ironically, the moment oil prices crashed as OPEC's geopolitical influence weakened (due to massive new oil discoveries in the North Sea by the United Kingdom and Norway, and the Soviet Union rapidly ramping up production to become the largest producer on earth) the global financial-industrial complex closed its trap. The American Federal Reserve aggressively raised interest rates to unprecedented heights, triggering massive capital flight, a dollar squeeze, and a devastating global recession. Nigeria immediately began to feel the heat. Because our ruling class consisted largely of comprador elites who consistently put the financial interests of their colonial masters over the material well-being of their own people, and who had agreed to ship hundreds of millions of dollars to stabilize European economies without investing in local industries, domestic refineries, or robust educational systems, the country was hit with catastrophic force. The economy of the state was pushed to the absolute brink of collapse. It was at this precise, desperate moment that General Ibrahim Babangida was ushered into military power with full Western backing. He immediately ran to the IMF for emergency loans. This time, however, the IMF did not offer Nigeria the free, juicy, and interest-free loans that Nigeria had so generously lent to them in the 1970s. Instead, this bailout came with extortionate interest rates and highly humiliating, structural austerity measures known as the "Structural Adjustment Programme" (SAP). Under the SAP, the Nigerian state was forcefully compelled to remove vital subsidies, aggressively devalue the Naira, open up their local markets for foreign corporate cartels, systematically defund public education, and drastically cut funding for healthcare. This economic shock caused unprecedented, generational hardship, completely wiped out the emerging middle class, and permanently stifled the industrial growth of Nigeria.

So, instead of weeping and shedding theatrical tears on live TV, Rufai Oseni could have used his highly coveted platform to properly, structurally educate Nigerians on this neocolonial development. Our economic condition is indeed deeply gross, shameful, and painful beyond words, but we cannot afford to be emotional; we need to be strong, highly calculative, and analytically rigorous. We must understand that Nigeria cannot continue to operate on the temporary charisma of a single, isolated leader without a deeply institutionalized, scientific ideology. If our leaders continue to blindly adopt all the macroeconomic dogmas, currency floatations, and policy templates handed over to them from Washington, they will always operate an economy designed strictly to please their white colonial masters over the material welfare of their own people.

[Tobi @cdtobs]

@VillageParrot Nigerians are more concerned with going to heaven

[Tobi @cdtobs]

Tuchel bringing on Burn and Konsa with 20 minutes left was treason

[Tobi @cdtobs]

@mofe_J Big one

[Tobi @cdtobs]

@Chetuyachinago Investors can be good if they are investing in businesses/infrastructure but these t-bills will put us in trouble.

[Tobi @cdtobs]

@Chetuyachinago Ticking time-bomb.
That FDI hope they were sold isn’t coming.
Usual tactics from the IMF as they will then offer to bail us out of the mess we are getting ourselves in.

[Chetuya Chinagolum @Chetuyachinago]

It is highly interesting and deeply ironic that Nigeria is currently being paraded as having the "world's best-performing stock market."

To put statistical illusion into clear mathematical perspective, South Korea comfortably has over 200 publicly traded companies with an individual market capitalization exceeding $1 billion USD. In stark contrast, the total number of companies on the Nigerian Stock Exchange with a market cap exceeding that same $1 billion mark sits at a measly, fluctuating 11 to 18. Furthermore, the South Korean Stock Exchange is home to over 2,500 listed companies, whereas the entire Nigerian stock exchange is struggling to maintain even 150. To make matters infinitely worse, the annual revenue of just one single South Korean conglomerate, Samsung, comfortably exceeds the entire, devalued annual Gross Domestic Product (GDP) of the Federal Republic of Nigeria.

So, it is obviously completely insane and deeply delusional to imagine that Nigeria is genuinely outperforming the rest of humanity in its actual economic output, industrial productivity, or stock market indices. Nigeria is currently the undisputed poverty capital of the world, where small businesses are collapsing by the dozens every single day. So that begs the question: what does this glowing market report actually mean for the ordinary people of Nigeria?

Well, for one, if a struggling, debt-ridden developing nation suddenly starts to heavily outperform advanced, highly industrialized nations on its stock exchange, it is actually a massive, flashing red indicator that the country in question is facing a severe and monumental hyperinflation. Nigeria is currently experiencing historic, record-breaking inflation, so this stock market boom is merely an indicator that wealthy oligarchs, institutional investors, and local investment banks have smartly recognized that if they hold their cash in standard bank accounts during this highly volatile period, they will lose their purchasing power every single day. Since they cannot easily access scarce foreign currencies like US dollars or Euros due to strict government currency controls, they desperately dump their fast-depleting Naira into solid, tangible local stocks like Dangote Cement, BUA Group, or MTN Nigeria just to preserve their wealth.

So, this triumphant news report that we are passionately commanded to celebrate is actually a terrifying warning sign that Nigeria is experiencing severe, runaway inflation. The local elites, corporate cartels, and bank directors are frantically tripping over themselves to buy blue-chip local stocks strictly to hedge against currency collapse, and this sudden, desperate surge in local demand has artificially driven up the prices of these shares to such a disproportionate, heavily padded percentage that on paper, it looks much more profitable to invest in the Nigerian stock market than in the highly productive, technologically advanced South Korean stock exchange.

Another major reason for this artificial stock market spike is the aggressive, reckless increase in interest rates by the Central Bank of Nigeria on behalf of the IMF and the World Bank. While this brutal rate hike has successfully collapsed thousands of local manufacturing businesses because commercial banks are now charging as high as 40% interest on business loans, it has also temporarily attracted a massive influx of volatile "hot money" from foreign speculators who are lending money to the Nigerian government by purchasing short-term treasury bills and sovereign bonds just to greedily exploit these high yields.

It is crucially important to historically emphasize that Nigeria is absolutely not the only developing country to be declared the "best-performing stock market in history." Mexico proudly achieved this exact same fraudulent title in the run-up to 1994, and it ended up almost collapsing their entire national economy into absolute oblivion. At the time, the Mexican government, acting on the strict advice of the World Bank, aggressively increased interest rates and adopted painful Structural Adjustment Programmes that triggered massive hyperinflation across the country. This temporarily, artificially increased their foreign reserves as yield-hungry international speculators dived in to exploit these high interest rates, causing their local real estate markets and stock exchanges to explode into a virtual goldmine for foreign investors. But this artificial boom did not even last for a few years. The moment the United States Federal Reserve increased its own interest rates, international investors panicked, liquidated their assets overnight, and pulled their hot money completely out of Mexico. This massive, sudden capital flight almost collapsed the Mexican Peso, forcing their desperate government to raise domestic interest rates to an astronomical 70%, but even this extreme measure was not enough to save the country from descending into total state failure. This was the exact moment Mexico was forced to accept a humiliating, sovereignty-destroying bailout from the IMF and the United States totaling a massive $57 billion. Exactly $20 billion of that came directly from the US treasury, but it came with the highly insulting, neocolonial condition that all revenues from the global sales of Mexican state-owned oil must be deposited directly into the Federal Reserve Bank in New York City as collateral to secure the debt, while the IMF forced even more brutal, structural adjustment programs on Mexico that the country has still not fully recovered from even to this very day.

So, while this stock market boom is currently being heavily marketed as another monumental, ground-breaking macroeconomic achievement by the Tinubu Administration, it is in reality extremely dangerous, deceptive, and reckless. Not only does it completely fail to reflect the actual, material reality on the ground, which is that Nigeria is currently the bleeding poverty capital of the world, but this exact, artificial economic bubble has the direct, terrifying potential to completely collapse the Nigerian economy, trigger massive capital flight, and permanently reduce the country to a subservient, bankrupt puppet state run entirely by the harsh austerity measures, economic dictates, and financial chains of boardroom terror organizations like the IMF and the World Bank.

[David Hundeyin @DavidHundeyin]

That is precisely why a country going through a socioeconomic transition needs stiff, firm, authoritarian, nationalist bastards as its leadership - not "democratically elected" people who are subject to votes from these miserable idiots who go digging for gold on an expressway.

Lee Kuan Yew told us decades ago that when his government built high rise apartments to take poor Singaporeans out of bamboo shacks, they deliberately began peeing in the elevators and taking countermeasures against the government's attempts to stop them from messing up their own infrastructure. They had to humiliate and punish people brutally before they started acting in ways that were beneficial to their own lives.

If you want to uplift poor, colonised people, you will have to do it AGAINST THEIR WILL. Colonised people are not sane and a revolutionary must not pretend that he is up against sane, rational people who want a better life. A colonised man will steal expensive paint and empty it out into a river so that he can sell the plastic buckets and use the peanuts to play BetPesa. He will dig up his country's first high speed motorway that is going to add hundreds of millions of dollars to everyone's collective pocket, so that he can find gold nuggets and sell them for $650. He will vandalise railway lines that are meant to improve his own life so that he can sell the metal to a scrap dealer and use it to buy some pussy that night.

Colonised people are among the biggest dangers to themselves and the countries they inhabit, and any leader wishing to improve his country's material conditions despite the presence of millions of colonised people who are out of their natural minds, must be prepared to go the Stalin, Mao and Lee Kuan Yew way. Re-education camps, public flogging and forced labour so offenders can repay their debt to society.

China was once burdened with millions of useless idiots like this, but deliberate state policy removed them from the census and transformed China into the world's most successful civilisation. Hard decisions must be made in pursuit of development.

[Tobi @cdtobs]

@centregoals Mind games 🤣

[Tobi @cdtobs]

@BBCSport The excuses have begun lmaoo

[🫐🪼🫧 @wongkarmarx]

cape verde killing that "they can be proud of themselves for making it this far" bullshit participation ribbon mentality imposed of african and most latam teams. they're just as deserving as argentina to be on that pitch and they play knowing that

[Tobi @cdtobs]

@_NOMICS Majority of African talent is in Africa.
We need to invest at home.

[dracojeremy @jeremyb___]

there’s nothing to be proud of

[Tobi @cdtobs]

@SpawnPoiint Capitalism man smh

[GT Atas @GodstimeAtas]

We were programmed since childhood to believe African religion is evil while the European and Arabic religions are holy.
Nollywood also helped to spread the propaganda by depicting African native doctors as evil doers.

[Tobi @cdtobs]

@edemagbana 🤡 🤡