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Nairaland Forum / Nairaland / General / Travel / Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million (6109 Views)
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Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by dre11(m): 8:50am On Jun 07, 2023 |
https://newtelegraphng.com/expert-seeks-crude-oil-exchange-solution-for-airlines-trapped-818-2m/ 2 Likes
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Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Taylor90: 8:51am On Jun 07, 2023 |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Nbote(m): 9:14am On Jun 07, 2023 |
Lolzzz.. So the govt wasn't just owing foreign govts and organizations but went as far as borrowing forex from airlines and owing them?? 5 Likes 2 Shares |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by thisisit: 9:18am On Jun 07, 2023 |
NIGERIA OIL & GAS COMPANY LTD.. EVERYTHING ABOUT NIGERIA IS OIL AND GAS ASSETS... NOTHING MORE. THE GRAND PRIZE FOR ETHNIC OR RELIGIOUS OR POLITICAL SUPREMACY IS... CONTROL OF CRUDE OIL RESOURCES.. IGBO, OR YORUBA OR HAUSA ARE ALWAYS FIGHTING OVER WHO BECOMES CEO OF NIGERIA OIL AND GAS LTD. THE NIGER DELTA MILITANTS SHOULD BLOW UP THE USELESS OIL AND GAS ASSETS ALREADY. . NONSENSE COUNTRY. 3 Likes |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by MrGreenMavro: 10:55am On Jun 07, 2023 |
Hmmm |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by BigBlackPreek(m): 10:55am On Jun 07, 2023 |
800 million plus dollars that's a whole fvcking lotta money 1 Like |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by LaIabobo: 10:57am On Jun 07, 2023 |
Nbote:Not likely. The airlines are unable to repatriate their revenue because of scarcity of FX. Their money is trapped in naira 8 Likes |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by AntiChristian: 11:02am On Jun 07, 2023 |
Wait o ! I no understand... |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Joyful365: 11:02am On Jun 07, 2023 |
If you exploit this option then you may end up indebted to international oil companies operating in Nigeria who are responsible for drilling the oil out... They won't get funds to repatriate their earnings A workaround would be for the government to produce excess and give it to the affected airlines as payment for the debt...if insecurity and thievery will allow it 2 Likes |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Didijiji: 11:02am On Jun 07, 2023 |
BUHARI ! BUHARI !! BUHARI !!! The wreck and damage you and that Amina of a woman caused Nigeria will need centuries to fix BTW, What happened to our forex? Because they had to even block Nigerians from using their local debit card to access FX at government rates! What did they do with all the Forex from crude oil sales? Someone was asking how Dangote sourced his and at what rate he did 4 Likes |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Unperturbedpota: 11:02am On Jun 07, 2023 |
Nbote: Are you a university graduate? 1 Like |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by EKONGKING: 11:06am On Jun 07, 2023 |
I laugh when people say Nigeria is giant of Africa. Except to massage the giant sized Nigerian egos it amount to nothing . 3 Likes |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Peejayz: 11:06am On Jun 07, 2023 |
e reach to ask Unperturbedpota: |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by JerryOysita: 11:09am On Jun 07, 2023 |
This is a huge sum. |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by MASTAkiLLAh(m): 11:13am On Jun 07, 2023 |
Why crude oil ? Why not gold ? 8 Likes 2 Shares |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by samsard(m): 11:15am On Jun 07, 2023 |
Nbote:They didn't borrow. Foreign airlines collect payment in Naira then they take it to the CBN and then get dollars which they can repatriate. The problem is that CBN is managing dollars and can no longer fulfil that obligation unhindered. So they have money in naira which is useless to them. 1 Like |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by morikee: 11:21am On Jun 07, 2023 |
This country is all shades of wrong 1 Like |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Dittodat: 11:32am On Jun 07, 2023 |
Nbote:Try to read and comprehend before posting trash. Olodo. Can a govt seriously borrow from airlines? Na by force to comment? 1 Like 3 Shares |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by CodeTemplar: 11:33am On Jun 07, 2023 |
What nonsense. Sell crude and pay since it is crude we are selling to eat already. O I forgot, the mouths are increasing and it is hard go get extra money for settling foreign reserve obligations. |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Deltavariant(m): 11:34am On Jun 07, 2023 |
Joyful365:I don't think its possible because we're a member of the OPEC cartel, just last week OPEC slashed our output which will in turn have negative consequences on our nonsense policy document called budget. |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Houseofglam7(f): 11:37am On Jun 07, 2023 |
🤦🏽♀️ |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by sulaak(m): 12:35pm On Jun 07, 2023 |
samsard: Why not just tell the airline to use Naira like Russia has done? Nigeria cannot continue to depend on the dollar, countries around the world are reducing their exposure to the dollar. Buhari mess up Nigeria 1 Like |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Bundaweber: 1:34pm On Jun 07, 2023 |
sulaak: Not really feasible. Those airlines service thier planes and they pay for it in dollars not naira. Of naija had a good industrial complex then yes what you stated is the best way to go |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Astra101: 1:35pm On Jun 07, 2023 |
G |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Olukat(m): 1:46pm On Jun 07, 2023 |
We are battling to abandon subsidy, now this Whats going on with these criminals? |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by sulaak(m): 2:11pm On Jun 07, 2023 |
Bundaweber: This is a big business opportunity for Nigeria entrepreneurs, Last week an MRO facility was opened in Akwa Ibom. The country needs to open more MRO nationwide to reduce the dependency on the dollar. They will still have to import spare parts, but with time OEM suppliers can be encouraged to set up factories in the country. The amount of money wasted on the corrupt Nigeria Air should have been invested in building MROs at all international and local airports.
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Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by samsard(m): 2:12pm On Jun 07, 2023 |
sulaak:Use naira to do what exactly, bros? Can you use naira outside of Nigeria? The people using Russian rouble are giving dollars to their central bank & buying the rouble to trade maybe crude or natural gas & other stuff. Russia still sells dollars for companies that want to exit, although it's limited. Nigeria is not even under Western sanctions. The US dollar is the global intermediary currency & companies expect to repatriate their profits. |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by Vifx: 2:24pm On Jun 07, 2023 |
Good way out of this deadlock |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by 10thTenthMan: 2:33pm On Jun 07, 2023 |
AntiChristian: Nigerians buy INTERNATIONAL FLIGHT TICKETS mainly in Naira from these airlines. Typically, such naira purchase is supposed to be converted to Dollars for the airlines by the CBN. The Dollars is MAIN currency for international trade and there is usually an agreement between international airlines and the CBN for the exchange of this naira to USD. Now after Nigerians buy these international flight tickets in Naira, the airlines cannot get dollars from CBN to repatriate their money to their countries. As it stands the airlines have 812 million USD trapped in Nigerian (in Naira) and cannot convert these to dollars at the CBN for them to move their money to their home countries. 1 Like |
Re: Expert Seeks Crude Oil Exchange Solution For Airlines’ Trapped $818.2m Million by AntiChristian: 2:37pm On Jun 07, 2023 |
10thTenthMan: Thanks. I thought BAT promised something like allowing investors to repatriate their money? |
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