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Nairaland Forum / Nairaland / General / Business / FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu (19215 Views)
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FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Nobody: 5:59pm On Aug 21, 2016 |
By Ediri Ejoh & Iloaze Blessed-Odidi http://www.vanguardngr.com/2016/08/forex-nigerians-will-continue-suffer-pending-massive-refining-kachikwu/ 3 Likes 1 Share
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Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Nobody: 6:10pm On Aug 21, 2016 |
It's difficult to fulfil my electoral promises, says Buhari... http://punchng.com/difficult-fulfil-electoral-promises-says-buhari/Buhari, you have convinced us that you have nothing to offer, so can you kindly return the economy back to how it was before GEJ handed over to you? That will be greatly appreciated 54 Likes 6 Shares |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by shukuokukobambl: 6:13pm On Aug 21, 2016 |
It's obvious the pipelines crisscrossing the niger delta are doomed to be vandalised because see the statement by Kachikwu below The Minister attributed colossal loss of 60 percent decline of gas production, to the activities of militants in the Niger delta area. He revealed that between 2010 and 2015, the industry recorded over 3,000 incidents. We see that even before buhari dreamt of winning, the vandals have been blowing up pipelines even with the amnesty in place under their brother GEJ. It simply proves that nothing can separate a pipeline vandal from vandalism. Even if you give him the entire vault of CBN as amnesty payment!! Even Diezani claimed they utilized part of the $20B for vandalized pipelines repairs in the years the so called amnesty was in operation. 19 Likes 2 Shares |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by cjrane: 6:21pm On Aug 21, 2016 |
[size=15pt]Just Naija collapsing everyday right before our eyes. Even Chimpanzees are now praying for Buhari to remember his promises.[/size] https://www.youtube.com/watch?v=f__vOncHeMg 17 Likes 4 Shares |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by dunkem21(m): 6:28pm On Aug 21, 2016 |
Nigerians will continue to suffer .. till 2018?.. .. Very soon, he will be made to eat his truthful words again. The advantage of being informed is that the ignorant man on the street is hoping for things to change while you are prepared for the doomsday. 17 Likes 1 Share |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Metallurgist: 6:33pm On Aug 21, 2016 |
the way agriculture is tackle if Nigeria self sufficient in wheat rice and sugar which account to over 1.1trillion naira annually, and dangote 650 thousand barrel per day at full capacity in 2019. this means that almost 80% of the demand for dollars(40% petroleum products, 40% agricultural products) is mitigated , by law of demand and supply dollar may exchange for naira @ far less than a 100 naira 12 Likes 1 Share |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by tuniski: 6:46pm On Aug 21, 2016 |
Metallurgist: With Dangote refinery coming on board there is hope. All the noise about our taste for foreign goods is smoke screen. The real forex pressure comes from govt failure on refining petroleum products locally : govt taste for Foriegn petroleum products! 28 Likes 2 Shares |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by LordAdam: 7:30pm On Aug 21, 2016 |
Metallurgist: Please, is your name is Joseph? You can dream eh! Here's the thing, what will happen in post-2019 is that we will be more immune from the currency volatility. The exchange rate at that time, which would certainly be over $1/N500 will not magically reduce. The only thing would be that like it was from 2004 to 2014 when the Naira lost less than 25% in value, post 2020, our currency will be more stable against foreign currencies and not lose a lot of its value when next the economy tanks. As at 2014, we had already reduced our import bill from #1.1t to roughly #700b. With the fall in value of the naira, that inevitably will increase up back to #1t. Anyway, programs like the CBN ABP should send it back down in the near future. I really pity Buhari, because things would only begin to shape up in late 2018, when the election period will be entering full swing (assuming the price of oil does not go past $70 per barrel between now and then). By that time, Nigerians would have had enough for him. But unfortunately, he'd still continue ruling if he so wishes. The primary reason why is because he is retired Fulani general who doubles as the incumbent president and has his kinsmen in all the sensitive security and electoral positions. In the future, Nigerians would look back at the 2015- 2019 period as the worse democratic period in the nation's history. The history books will not be kind to Buhari. -Lord 22 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Kelklein(m): 10:14pm On Aug 21, 2016 |
LordAdam:dream on boy! and to think that you just ask if someone is Joseph? 11 Likes 2 Shares |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Nobody: 10:15pm On Aug 21, 2016 |
This man don too dey talk o |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Engrr(m): 10:16pm On Aug 21, 2016 |
Kachukwu is a MAD MAN, so the solution is no more increasing the pump price of petrol by more than 60% 3 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by mrmrmister: 10:16pm On Aug 21, 2016 |
Kachukwu, you and your generation will suffer!! See the mad men we call politicians |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by damola311: 10:17pm On Aug 21, 2016 |
They are not even afraid and care less to say that to our face.... 4 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by appini: 10:20pm On Aug 21, 2016 |
Kachikwu don use style tell Nigerians that the sufferings is just beginning. 7 Likes
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Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by damola311: 10:21pm On Aug 21, 2016 |
Metallurgist: Even mechanics do comment on Nigeria economy 9 Likes 1 Share |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Montaque(m): 10:22pm On Aug 21, 2016 |
LordAdam: Na u wey suppose answer joseph. 3 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by doctokwus: 10:23pm On Aug 21, 2016 |
Idiots.But they said once forex market is deregulated,dollar wud start flowing in from investments left,right centre! The economics of this govt is disjointed and full of contradictions. First Nigeria's demand for petrol has reduced since the fuel price increase.Coupled with the removal of the subsidy,effectively,net demand for dollars for importation shud effectively have reduced. Secondly,importation of rice, another dollar gulper has been forcefully reduced by the govt with it's antiquated policy,thus a further reduction in dollar demand. So what is fuelling the fall in naira if not for a confused and sometimes antiquated monetary and fiscal policy of this govt. This govt wants to ban import of everything and some uninformed people are supporting them.But one thing many have stupidly forgotten or their antiquated brains cannot recall is this,nigeria as far as I remember is a signatory to the free trade agreement that obliges nations not to arbitrary impose duties on goods;if u ban importation of everything,including ones that u do not for now have comparative advantage over,who are u going to export your own products to to earn forex,or u produce and consume everything yourself!! A man that does not realise he is taking the wrong road and should retrace his steps will continue on that road to the end,and wen he reaches that end,he wud av lost all strength to turn back to start afresh.This is the state of the economy under this govt. Foolish people! 10 Likes 1 Share |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Ndolarr: 10:26pm On Aug 21, 2016 |
It will serve this government better to stop talking about what it plans to do, but lay more emphasis on what has been done, the impact and steps initiated to fine tune such policy actions for enhanced results. Nigerians are tired of statements of intention after more than 15 months of this administration, but rather want to hear statements of action!! God bless Buhati and his team 4 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by fineboynl(m): 10:37pm On Aug 21, 2016 |
if only the bank should start pay citizens in the said foreign currency for foreign remittance. this money will get to the public through right sources and the price will be coming down. 2 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by MrPresident1: 10:42pm On Aug 21, 2016 |
They did not tell us this when they came to ask for our votes. APC end time party 5 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by frisky2good(m): 10:42pm On Aug 21, 2016 |
Didn't they say it's because we import pencils and tooth picks? 1 Like |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Nobody: 10:43pm On Aug 21, 2016 |
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Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by HAH: 10:44pm On Aug 21, 2016 |
The best solution is to sell the refinaries to anyone that want to buy them. Believe me if this refinaries are personal business it will work and you won't be hearing of turn around maintenance every six months, And anyone that buy the refineries must sack everyone and employ new staff and train them because the current employees are so used to being paid even for doing nothing. As long as we rely on this government owned refineries there is no possibility of local sufficiency of petrol our only hope is Dangote refinery. Surely when Dangote refinery come on board the NNPC owned refineries will die the way Nitel died when GSM came 10 Likes 1 Share |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by aksule(m): 10:46pm On Aug 21, 2016 |
This is what we want this administration to tell Nigerians rather than blaming game. While there are kids among us certainly there are adults who are not convinced on the blame game. 4 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Femich18(m): 10:48pm On Aug 21, 2016 |
That is the bitter truth man...This man is a technocrat and not a politician.. I started believing him since the days of the Fuel scarcity that resulted to the subsidy removal... The man told us when the fuel scarcity will likely end but the politicians criticized him and at the end we saw that he told us the truth..Kudos to you Honorable Minister 12 Likes 2 Shares |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by eazydon(m): 10:52pm On Aug 21, 2016 |
What an un-inspiring mugu of a minister 2 Likes 2 Shares |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Adesiji77: 10:53pm On Aug 21, 2016 |
Hmmm |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Temptee101(m): 10:56pm On Aug 21, 2016 |
At this juncture, wholeheartedly i sincerely regret ever being a nigerian. Nigeria is cursed with a cursed dullard 3 Likes 1 Share |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Mintek: 11:04pm On Aug 21, 2016 |
doctokwus: Did this really emanate from you or did someone hack into your profile? 2 Likes |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Nobody: 11:09pm On Aug 21, 2016 |
Is not for Biafrians like me. We know where we are going. Buhari de dullard, keep taking us to the promise land 2 Likes 1 Share |
Re: FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu by Anseth(m): 11:14pm On Aug 21, 2016 |
"I belong to nobody but i belong to everybody" The worst scam and deceitful statement ever! 4 Likes 2 Shares |
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