House prices are up. No they are down. The price of land in Lekki has fallen. No it has gone through the roof. The worst is over. No there is still more to come. UK Ministers are claiming 40p chocolate bars on expenses. Nigerian ministers are sharing $60m amongst themselves (we always have to show off don't we?). BA suffers its greatest annual loss (serves them right). BT lays off another 10,000 people. Zain jettisons 300 in Nigeria.
All these headlines and still when I look around in Lagos I do not see a single sign of this so called Cadbury's crunch. Where is it? Or are we exempt from the words "Global credit crisis?". The number of new cars continues to grow. I have seen at least half a dozen of the new and even more ugly BMW X6 in the last week not to talk about new Merc 4x4s and the latest big boys toy - the Tundra - a car bigger than some places I have lived in. So where is it? Where are the signs of cutting back? Planes are still full. Parties a plenty. So what's going on? Are we fooling ourselves or the world? Are we thumbing our noses at them from the privacy of our beach front villas? Credit crunch? Oh please squire. How distasteful. Not a topic for polite company old chap.
My landlord is looking to sell one of his houses for N100m . He has not even finished building and the buyers are already jostling. And this is not a mansion o. Just a small, well built and finished four bed house on a small plot. He looks at me with some pity when I ask if he is not asking too much. He is probably thinking to himself. Look at this JJC. This didirin. N100m is weekend money for some big boys o. These guys have the credit crunch for supper and wash it down with Moet.
So is it me? Or are some people really smoking the green shoots of recovery?
Totally unrelated to the credit crunch (but in line with smoking green shoots ) is this photo of African first ladies. Cameroon must be a much livelier place than I had gleaned from my short visit there last year. As for our own first lady - kudos for decency and decorum.
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11 comments:
Toksboy tell em i am fisrt oh...
i am FIRST ,right,,,
We are from a country that sees credit crunch almost every year. There are some peeps in Nigeria feeling the weight of the recession, and others who live in a world where the suns shines all year round.
But then again, our people know how to disguise the hard times...
That`s what makes us Nigerians.... and we are proud to be called/ known as so!
:)
But seriously, you fit find person wey get chicken change like $10000 for me? lol
Lmao @ the first lady with the massive hair…was the butt of many a crude joke here..my dear me sef tire for this credit crunch oh…I still have friends and aquaintances who come to UK for the weekend and stay in hotels at the west end…yet the news never stops, guess it's when it hits you personnaly that you will know.. Ie if you are a dependent of one of the 300 fired from zain...
todays been awful but at least this post made me laugh.
I understand that some people are now unable to pay their electricy/water bills etc in the UK. In Nigeria we can't remember when we had electricity or water so that isn't news to us.
There's credit crunch here my brother, if for no other reason, the stock market crash has rendered loads of people/banks broke.
A friend of mine in real estate says the market is very bad but the landlords refuse to lower their prices because the politicians, contractors still have enough money to buy these things. They are about the only ones buying really. Most banks have stopped giving loans so where will an individual get a 100million to buy property if he doesnt walk down the corridors of power.
In my industry, I can feel the crunch,even the yahoo boys can feel it too.
Let's hope it doesn't spread some more.
Is that Cameroonian First Lady really a....Lady!?!? I have my suspicions!
credit crunch??? what credit crunch? thats what someone said to me 2 weeks ago when he wrote out a chq for 3 range rover sports. one for him, for d mrs and one for d skele.
Totally unrelated. Well done on winning the FA cup. :-)
I think the way folks are dealing with the crunch is to increase the prices of their goods and services and that way they can maintain their lifestyle.
How dare you? How dare you? The BMW 6 series is ugly? How dare you spit on my dream baby like that? Nonsense!
The T. Tundra, now that urrrrrrggggly!
Ours is an economy of the poor getting poorer and the rich getting richer, cus like Chayoma said, those that no the weight of economic recession do know, in fact they have known this a long time b4 it hits the global world.
The first lady is damn massive-lol
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