drlateef:



We all know he borrowed some money to stabilise the naira. And he is paying back at same time.

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

Godoverevery:

Like I don't understand.........how much am dealing with isn't your business.
Do we have a deal?? So I can open a thread for it.

predictor1:
He is shifting goal post.

mrvitalis:

So in your head that can meet of up the dollar demand?

What you would achieve is Buhari 101 massive difference between official rate and black market rate

Say I want to set up a small factory and need $500k to buy machines or raw materials... Where do you think I would go? ... U think I won't pay 10% above price to get my
money in 1 week?

iamtoofan:




Height of ignorances ! which machine you wan buy for $500k ...
how you go put small factory and whooping $500k in same compound sentence ... the way Nigerians call money in dollar even americans no fit call $10k "just"
Anyone capable of setting up an investment worth $500k will most likely have connect to liason with cbn/banks

Hoelujohn:

Do you know the BDC can actually make the naira 2500 overnight. They have the power over the rates. So if government paying them certain amount of money to bring the rates down, I think it's ok.
For your info, I am a strong supporter of PO but anything that will make the economy better, I will support

mrvitalis:

Lmao which machine can you buy for $10k dollars Lmaooo

Mere palm oil refining factory would set you back $500k minimum, if you include mayonnaise and butter factory to use up the by products you are talking $1 million to $5 million for its basic level

Smh small minded people

iamtoofan:





I wasnt even talking about $10k to buy machine, notwithstanding go on copart right now nd you will marvel @ cars $10k will buy

Naija valueless currency as so much mess with you people head you just call dollar amount anyhow. mention the small factory machine dem buy $500k for ur eye ...

Say I want to set up a small factory and need $500k to buy machines or raw materials those are ur words bring out the machine wey cost $500k

mrvitalis:

I have told you palm oil refining plant
High quality nylon extrusion machine... Used to produce pure water

Fairly standard chocolate factory

Fairly standard chicken Franks factory

Bros abeg abeg

saysoo:
Ok you just nailed it. You bank account (FR) keeps you stable and you economy follows, basic. You borrow cause you have nothing, your currency goes south, FDI stays away. My brother it is not going to work if our FR does not go up.

iamtoofan:


For a starter, mechanized oil refining do not belong to the category of SMEs, most of these oil factories are owned by multinational or big companies.

show us your own reciept of the machine wey cost $500k, dj Yk

Hoelujohn:

Do you know the BDC can actually make the naira 2500 overnight. They have the power over the rates.

mrvitalis:

They are medium scale business
.. They are not big business

Bros I told you refining machine and you are showing me palm oil production machine

If I show you the machines what next? What would you do

iamtoofan:



did you just call a business that cost $500k medium scale, that is almost #700m ....
military suppose arrest you join militant dem dey find ... cos you just murdered "logic"

A business worth ova 700m investment, naa 400k turnover go be the benchmark oga go n sit down

mrvitalis:

Lmao which machine can you buy for $10k dollars Lmaooo

Mere palm oil refining factory would set you back $500k minimum, if you include mayonnaise and butter factory to use up the by products you are talking $1 million to $5 million for its basic level

Smh small minded people

mrvitalis:


You can employ 100 people to me making 400k yearly?

Or even 5 people to be making 400k yearly? How much u wan pay them

iamtoofan:



Alol ! you think its about quoting anything on google, dey apply your academic qualification naw,
are you saying football clubs like Man city, real madrid, man U, e.t.c are medium scale cos dey don't even make close to $1billion revenue anually

The


go n sit down

lionshare:
Are you aware that the daily turnover in the foreign exchange market is currently $200 million? Your $500,000 amounts to less than a quarter of one day's transaction turnover.

DaniellaDokubo:
Government is selling off its FX reserves. This is not a sustainable solution. Way to go. EXPORT goods and service!

mrvitalis:

Question is what's the demand?

adikings22:


Funny how everyone has suddenly become a financial expert. Was Nigeria exporting goods and services just 10 months ago when dollar was N700?

mrvitalis:


The definition is simple

There are two criteria one number of employees and revenue

How you don't get it is beyond me

If you think a $1 million dollars factory is a big factory that's your business oga

yoruboid:


We have a trade surplus and as long as the CBN has the dollars coming in, the Naira will continue to appreciate

Imagine what will happen when the refineries start to export and we don’t import a drop of petroleum products in Nigeria

Hoelujohn:

How many BDCs do we have? Approximately 1500. Multiply it by 10000 dollars per week. That means each BDC gets 40k per week. Multiply that by 12 months a year and by 1500 BDCs. The total is not up to 800k dollars a year. That is less than government weekly earnings on crude oil export.

Hoelujohn:

Do you know the BDC can actually make the naira 2500 overnight. They have the power over the rates. So if government paying them certain amount of money to bring the rates down, I think it's ok.
For your info, I am a strong supporter of PO but anything that will make the economy better, I will support

mrvitalis:

The only issue is you don't have the reserve to back this up long term... Can't even last 1 month