grandstar:
This is good news.

I suspect Buhari may now be more market friendly now that he's in his last term as president

nwanneni:
na export na.When my money dey return to the country e go large scatter

Sinach0191:






Nice I don't think this government will listen

nwanneni:
what is that key ?the refinery right ?

GAZZUZZ:
I see price of cars going up very soon....

This car price might go up soon, hurry and make an offer before it happens.

https://www.nairaland.com/5171214/2010-range-rover-lr4-hse

bigpicture001:


Now wen we say forex supply needs to surpass forex demand we mean that ; brining in forex into the economy has to surpass sending forex out of the economy...

We bring in for into the economy wen we ship in our revenue from all Nigeria related biz outside of Nigeria...currently ONLY the FG. brings in much forex like 90% of it into the country....no other Nigeria related biz us dt successful outside our shores to bring in Forex into Nigeria except dangote

The thing now is that dangote's forex revenues are rather kept at foreign banks cus of shallow financial system of Nigeria banks....

Now the FG source of revenue reduced by about 60% since oil prices fell making forex supply to the economy to fall drastically

Mind you that forex demand are ever increasing when ever we demand for roles to do the following : vacation abroad, ski feel abroad, laundry stolen funds abroad, import pretochemical and machines...in fact all import...


Now you get it...? our forex supply has to surpass our forex demand for the currency to appreciate nd only dangote hols d key!

Yes you are partly right...dangote through his refinery would stop reforestation demand for refined petroleum, nd thru his very vast investments abroad can start repatriation of huge revenue from his businesses...nd assist the FG

nwanneni:
I am not an economic dunce so I know all you wrote up there.i just wanted you to tell me that key dangote holds to free float stability of the naira.
What other product is there that dangote produces that will suddenly bring inflow of forex or reduce forex demand except the refinery he is yet to start operating ?

nwanneni:
I am not an economic dunce so I know all you wrote up there.i just wanted you to tell me that key dangote holds to free float stability of the naira.
What other product is there that dangote produces that will suddenly bring inflow of forex or reduce forex demand except the refinery he is yet to start operating ?

fukushaki:
Next level is about to start full time. May God make it easy for each and everyone of us. No matter how unyielding this Buhari government will be, God will surely make us succeed by his grace

kfrosh:
The only one thing Dangote can do that will help the Naira in the short run is to kick start his refineries. This will bring an end to importation of refined oil and in turn can reduce our importation in that sector.

But how long will this last, oil is drying up, there's need for diversification. Other world economies are diversifying, Nigeria still living in past glory. Nigeria is a ticking bomb that will implode soon.

bigpicture001:


Dangote;s refinery is 75% completed if it starts operation it will reduce our for ex demand by 40%...

Again Dangote has Dangote cement in 11 African countries...I mean manufacturing plants...which is a summary up investment of over 5 billion dollars...he generate revenue totally up to 30 billion dollars yearly...now u see....

The next tin after the federal government that pumps in forex to Nigeria is foreign remittances from family nd friends of Nigerians living abroad nd it's about 10billion..

Hope u understand how Dangote will play a bug role on both d demand nd supply side of forex...?

quentin06:


oga, people will avoid fuel guzzling cars like the ones you sell, i see their prices dropping people will opt for small cars with 1.4 ltr engines bye bye v6 and v8 cos fuel will be 350 naira a litre courtesy of next level change.

Damilaresammy:
Okay finally the price of fufu will reduce and naira will be equal to dollar

nwanneni:
diversity comes naturally after saturation.
The government isn't responsible for that.
Perfect oil and gas first and people will start going to other sectors willingly when they find out oil no longer pay bills
That diversify the economy song I keep hearing makes me laugh always
You don't go about and start telling people what to do na.they will find out eventually and shift with so little effort.

nwanneni:
so why will he remit those money to Nigeria when he does not buy raw materials from here
Nigeria banks have nothing to do with that.
You can't move money from other countries to Nigeria first before sending ashore to avoid multiple exchange rate problems.

Sinach0191:
Economist pls hw do u make naira appreciate

Ijaya123:


When the price of crude oil returns to the rate it was under GEJ regime, that is at over $100 per barrel.

Sirheny007:
'Between 2015 & 2018, the cost of living has been at an all time rise for the average Nigerian, WITH NO END IN SIGHT'

fukushaki:
Next level is about to start full time. May God make it easy for each and everyone of us. No matter how unyielding this Buhari government will be, God will surely make us succeed by his grace

fukushaki:
Next level is about to start full time. May God make it easy for each and everyone of us. No matter how unyielding this Buhari government will be, God will surely make us succeed by his grace

amaben2020:


Result of poor leadership

bigpicture001:


Yes...I really love d way you think....you not d usual lady....during the peak of the downward sliding of the naira in d forex market...the CBN..licenced a lot of berate the change nd commissioned them to bring in and also sell forex in niaja...just do they require vetting by the CBN to limit money laundry through them....dangote on seeing this also announced he would register for because the change licence when his firms a stronger abroad nd also targeting huge revenue from refined crude export to west Africa cpuntries..if the government can float the forex exchange market


Now you see y he will b interested..then he could literally control the market with his huge forex revenue but at same time help to stabilise the naira

TheFacelessMan:


Buhari just can't catch a break.

When he defended the Naira, they ranted and abused him for being a dullard. They screamed he should "float" it.

Now, he wants to, they are shouting again " next level "

IF, the Naira is floated.... things would get much worse and i don't see Nigeria recovering in the next decade

yinkeys:
I just won't be surprised if the cabal have bureau de change business across the country.

nwanneni:
that was a full time capitalist move.in other words he wanted to privatise the forex sector too since he would have the greatest control in that market due to his larger inflow of forex over other bureau de change operators.
You know what that means right?he can wake up one day and start hoarding forex so as to hike it's price to make more profits.
No one wants to give that kind of economic power to one man.he will definitely hold Nigeria to ransom and start making outrageous demands.its human nature
If that wasn't his plan then why would he want to do it only if government doesn't intervene in the forex market ?

nwanneni:
you are not alone bro.i can't wait for the naira to somersault once more so we start hitting that mad dough again.