Naira Appreciates Across Forex Market - Business (3) - Nairaland
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| Re: Naira Appreciates Across Forex Market by Dyt(f): 1:16pm On Mar 14, 2017 |
Funjosh:Haffar |
| Re: Naira Appreciates Across Forex Market by Bustybee: 2:15pm On Mar 14, 2017 |
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| Re: Naira Appreciates Across Forex Market by Horus(m): 2:28pm On Mar 14, 2017 |
| Re: Naira Appreciates Across Forex Market by MayorMgbedike(m): 3:15pm On Mar 14, 2017 |
#000000 |
| Re: Naira Appreciates Across Forex Market by Funjosh(m): 4:37pm On Mar 14, 2017 |
| Re: Naira Appreciates Across Forex Market by Dyt(f): 4:45pm On Mar 14, 2017 |
Funjosh: Smh |
| Re: Naira Appreciates Across Forex Market by Funjosh(m): 5:30pm On Mar 14, 2017 |
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| Re: Naira Appreciates Across Forex Market by jpphilips(m): 6:25pm On Mar 14, 2017 |
Horus: This Nnaemeka sounds very knowledgeable, a rare breed of the usual boisterous Nigerian Youth. Let me trim the rough edges of his enlightenment a little. Cash call is almost $9.8b he made it sound as if it was a liability that we need to do away with, on the contrary, it is our equity contribution to the JV that ensures we earn the so called forex liquidity, if we sell our JVs to run away from cash calls, we definitely earn less from oil explorations reducing our forex inflow in the long run. Selling the refineries is not a bad idea, the only bad news is that all the refineries in Nigeria have no dedicated feedstock, where will you get the oil to refine? no sane investor will price it reasonably, at the time Dangote bought it, I am damn sure he had no plans of running it as a refinery perhaps strip it and use its water ways for cement projects and warehousing. There is nothing like policy consistency because Nigeria is passing through a dynamic phase, oil price shock then the production cuts, it is normal for the CBN the sole custodian of our FX by the way to be straddling between a conservative policy at our lows and liberal policies at our highs. I hate it when people think the CBN is hoarding $$, once the CBN strikes off an item from form M, it simply means they have run out of liquidity to sustain its funding. There is a community assisted surveillance programme where the Niger deltans are the real security providers for oil and gas pipelines, what we saw recently contrary to what Nnameka alluded is that the so called community guys colluded with the Avengers to terrorize our infrastructures, why do you think the military arrested most community chiefs at the wake of the crisis? PIB has a 10% community fund enshrined in it, added to the 13% derivation and NDDC is huge for the Niger delta, I tell you what, the bulk of this money doesn't translate to development neither does it translate to good life for the average niger deltan, in other words, it doesn't ever solve the problem, Amnesty tried but community funds?? I have my doubts. If the PIB left community funds for living wage for at least Niger deltans employed in the industry, Im sure the story will be different. community funds to be paid into the LGA account I guess, same account controlled by the state governor who may not even approve an election at LGA level? same state governor who has misappropriated his 13% for decades? gimme a break! Nigeria does not have the capacity to do 3mbopd for two reasons, while our installed capacity may look bright, the OPEC deal that sealed the current price we are enjoying since january was achieved on production freeze of surplus determined by variations in distribution and cost of production by regions, a 3mbopd for Nigeria will pitch us directly behind Iran and we will tilt the freeze balance, if we are allowed to do that, price crash will suffice defeating the whole effort. Everybody depends on the dollar one way or another, fine, there are Nigerians who haven't touched it in years but daily we pay for those who do for our survival, it's an indirect dependence for most Nigerians and direct dependence for some nigerians, depending on the divide you define your priorities. Accommodating illegal refineries is a joke that not even the devil will consider, not when they source their crude from pipeline sabotage in the most horrific environmental manner, or the cost of fixing the damage they cause. Great job it feels good to hear from youths who still have a functional thought process. 1 Like 3 Shares |
| Re: Naira Appreciates Across Forex Market by Mummyejire(f): 6:46am On Mar 15, 2017 |
Alexkene: Really?that's serious,banks dont sell to individuals,BDC same,no wonder the mallams are extorting people. But is there no Known BDC tgat sells to individuals for business purpose or is there a way to buy aside from the black market. |
| Re: Naira Appreciates Across Forex Market by gnykelly(m): 3:18pm On Mar 15, 2017 |
deflover: you will regret this massively. |
| Re: Naira Appreciates Across Forex Market by Horus(m): 3:39pm On Mar 15, 2017 |
https://www.youtube.com/watch?v=Wx8XVFNgEr4 Nigeria's Central Bank to continue injecting dollars into currency market Nigeria's central Bank says it will continue injecting more dollars in to the currency market to defend the Naira from further weakening. Governor Godwin Emefiele says, the policy is necessary to ease the effects dollar crisis has had on local businesses and fight unscrupulous currency dealers in the parallel markets. |
| Re: Naira Appreciates Across Forex Market by deflover(m): 5:09pm On Mar 15, 2017 |
gnykelly: Oga I am a forex trader I ve no feelings I am more informed than you think So stop being a bitch |
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