Acidosis:


Are you not worried that NNPC is taking to loans to "stabilise" the naira? Are you not worried that NNPC is making announcements about monetary policies? NNPC??

am not !it shows the resilience ,sustainability and usd earning capabilities of NNPCL . For Any firm to access 3 bn USD loan tell a good story ( 41bn barrels of sweet crude plus 260 trillion cubic feets of Gas reserve. NNPC is no more but our state own Limited liability firm NNPCL . Saudi aramco supports the saudi Arabia it valued at a trillion dollars and remit 25 b USD to the saudi state to stabilized the riyal .

Acidosis:


Are you not worried that NNPC is taking loans to "stabilise" the naira? Are you not worried that NNPC is making announcements about monetary policies? NNPC?? They're not talking about refineries, but BDC traders and you think people are really getting their hands burnt??

there is no more NNPC it stop with the singing of PIA we now have a company more transparency run with share holders NNPCL is in transition will metamorphosize to saudi aramco soon ..it took another 800 m USD to fix ph refinery that will start producing 5m litres daily to pay up .

ahiboilandgas:
am not !it shows the resilience ,sustainability and usd earning capabilities of NNPCL . For Any firm to access 3 bn USD loan tell a good story ( 41bn barrels of sweet crude plus 260 trillion cubic feets of Gas reserve. NNPC is no more but our state own Limited liability firm NNPCL . Saudi aramco supports the saudi Arabia it valued at a trillion dollars and remit 25 b USD to the saudi state to stabilized the riyal .

I'm not entirely opposing your views. But it's wrong to assume that those who choose the pessimist view lack merit.

It's well and okay to remain optimistic about NNPC/NNPCL's loans.

ahiboilandgas:
am not !it shows the resilience ,sustainability and usd earning capabilities of NNPCL . For Any firm to access 3 bn USD loan tell a good story ( 41bn barrels of sweet crude plus 260 trillion cubic feets of Gas reserve. NNPC is no more but our state own Limited liability firm NNPCL . Saudi aramco supports the saudi Arabia it valued at a trillion dollars and remit 25 b USD to the saudi state to stabilized the riyal .

Ahib, wetin be this jargon wey you write so

ahiboilandgas:
Buyers of 950 dollars are counting loseses already! The lovers of bad new against the naira and Nigeria state are no where to be found .How come with all the rants abouts naira no body has posted the recovery! all the so called USD experts . 3000 BDC have been approved to start get usd , NNPC has received 3 bn usd to stabilized the naira , a Major crude export added 380 ,000 barrels and bonny light trading at 86 usd and swing up ward .more fingers will be burnt out a newbie that quickly changed his 960k to 1000 USD now 780k .dont follow bandwagon. Bad new sells

True value of naira is around 600/USD..... I have said it before...

By middle of Sept, naira will range btw 580 - 600 per USD.

Hoarders should keep hoarding, I've said my own 😅. We move 🚶🚶🚶

oluayebenz:
...
Hoarders should keep hoarding, I've said my own 😅. We move 🚶🚶🚶

😂

EL PATRIOTICO ARE SMILING

ahiboilandgas:
am not !it shows the resilience ,sustainability and usd earning capabilities of NNPCL . For Any firm to access 3 bn USD loan tell a good story ( 41bn barrels of sweet crude plus 260 trillion cubic feets of Gas reserve. NNPC is no more but our state own Limited liability firm NNPCL . Saudi aramco supports the saudi Arabia it valued at a trillion dollars and remit 25 b USD to the saudi state to stabilized the iriyal .

A profit making business like Afrexim Bank won't give a $3 billion loan to a business that does not have the earning capability and future cash flow to service the debt.


But it is still good for every Nigerian to have at least 10% of their assets in forex denominated investments

oluayebenz:


True value of naira is around 600/USD..... I have said it before...

By middle of Sept, naira will range btw 580 - 600 per USD.

Hoarders should keep hoarding, I've said my own 😅. We move 🚶🚶🚶

N750 is more like it

emmanuelewumi:




A profit making business like Afrexim Bank won't give a $3 billion loan to a business that does not have the earning capability and future cash flow to service the debt.


But it is still good for every Nigerian to have at least 10% of their assets in forex denominated investments

yes sir , i agree

Tranquility2345:


Ahib, wetin be this jargon wey you write so

na so we seem am . Called aboki to come buy 500 USD he no wan pay speculated value .instead him they call customers too he no wan risk anything

Acidosis:


I'm not entirely opposing your views. But it's wrong to assume that those who choose the pessimist view lack merit.

It's well and okay to remain optimistic about NNPC/NNPCL's loans.

the NNPCL needs investment to unlock it full USD generating capacities . There is 1 bn barrels in komani well in gombe ,another 500m barrels in Nassarawa at a conservative price of 20 USD per barrels na 25 bn USD be that just this 2 huge wells can offset those loans .The transahara AAK gas pipeline to Europe is on it way from warri it passed zaria already it will be connected to morroco transeuro pipeline in place and NNPCL expected income shared na 14bn usd . The pessimistic are driven by hate for the country,it people and unproductive speculators they are happy the naira is weak they salivate about the problems , cause futher panic .they are mainly abroad .there currently 15 bn USD held unproductive while manufacturing firms are crying up and down .

RayRay06677:
EL PATRIOTICO ARE SMILING

For where? It probably temporary

PDP spokesman even said that it is a dubious attempt to stabilise the naira

ahiboilandgas:
yes sir , i agree

Unfortunately most of us with dollars in Nigeria are basically doing currency speculation

emmanuelewumi:



Unfortunately most of us with dollars in Nigeria are basically doing currency speculation

yes Nigerians overdo just everything and turn around and complain and compare . You dont print dollars in Nigeria but want to have dollars more than Americans that print it , Nigerians sell their properties covert to USD pay for COS (10000 pounds)and travel to Uk to work in Old people homes . The uk citizens no even get 5000 pounds for accounts

ahiboilandgas:
yes Nigerians overdo just everything and turn around and complain and compare . You dont print dollars in Nigeria but want to have dollars more than Americans that print it , Nigerians sell their properties covert to USD pay for COS (10000 pounds)and travel to Uk to work in Old people homes . The uk citizens no even get 5000 pounds for accounts

Caused by the type of education we receive here.


It is madness to sell your house for N50 million a bank manager, to start working as a sale atendant in a super market or gas station. Na what happened to a relative.


Japa if you must, but selling the house you built after working for years because of this get as e be

emmanuelewumi:



Unfortunately most of us with dollars in Nigeria are basically doing currency speculation

na better land still be good investment that land bought for 720k in 2004 now sell for 38 to 40m am surprise people are buying. 720k na 6000 USD in 2004 while 38m na 50000 USD + this has been the strategy of perpetually billionaire aminu Danatata . He hold about 2000 strategic properties .caveat no just any land do the magic.

oluayebenz:


True value of naira is around 600/USD..... I have said it before...

By middle of Sept, naira will range btw 580 - 600 per USD.

Hoarders should keep hoarding, I've said my own 😅. We move 🚶🚶🚶

Dey play.

When boys are warming up to mop up again anything below 800

I like your optimism. Check the post of AwesomeJ on this thread and see how he discouraged people from changing below 500 few years ago. I'm sure experience has taught him that the thieves at helms of affairs of this country are unwilling to address the true solution to the problem


The true solution to the dollar quagmire is for government to cut the operational budget of all federal parastatals and ministeries by 50%. The money given to these ministries/parastatals are largely stolen, which is in turn used to mop up dollar by the looters.

If they don't do this, the solution you are seeing now is only a quick fix that will push dollar to sub 800 but in few months or one years time, the dollar will continue its upward journey again.

pizapato:


Dey play.

When boys are warming up to mop up again anything below 800

The true solution to the dollar quagmire is for government to cut the operational budget of all federal parastatals and ministeries by 50%. The money given to these ministries/parastatals are largely stolen, which is in turn used to mop up dollar by the looters.

If they don't do this, the solution you are seeing now is only a quick fix that will push dollar to sub 800 but in few months or one years time, the dollar will continue its upward journey again.

Till then.

Will quote you

emmanuelewumi:



Caused by the type of education we receive here.


It is madness to sell your house for N50 million a bank manager, to start working as a sale atendant in a super market or gas station. Na what happened to a relative.


Japa if you must, but selling the house you built after working for years because of this get as e be

63000 went to the Uk and paid over 100 m pounds in deposit and visa fees .so how naira wan get real value with abnormal citizens .that sell fully paid house covert same to over 90000 usd to japa to hustle in care home .Many business in the UK is not woth 90000 USD that the japarian intend tp work here

pizapato:



Expect a little twist by September ending or Oct/Nov, they might pump out some USD to crash the rate and ensure speculators get their hands burnt.

Whoever is playing the long game really have nothing to worry about though.

This was my post few weeks ago.

The twist is coming earlier than expected.

Anyone with the plan is to hold long for wouldn't panic. For those that know the game, it is a normal move. Na to hold and average down as rate falls.

emmanuelewumi:



Caused by the type of education we receive here.


It is madness to sell your house for N50 million a bank manager, to start working as a sale atendant in a super market or gas station. Na what happened to a relative.


Japa if you must, but selling the house you built after working for years because of this get as e be

More than madness. I cannot have N50m and then give it to US or UK or Canada in the name of japa. Of recent, i have been seeing so many japa adverts for work as farm help in rural areas of Canada. Imagine spending N50m to be a farm help in -40degrees.

pizapato:


Dey play.

When boys are warming up to mop up again anything below 800

I like your optism. Check the post of AwesomeJ on this thread and see how he discouraged people from changing below 500 few years ago. I'm sure experience has taught him that the thieves at helms of affairs of this country are unwilling to address the true solution to the problem


The true solution to the dollar quagmire is for government to cut the operational budget of all federal parastatals and ministeries by 50%. The money given to these ministries/parastatals are largely stolen, which is in turn used to mop up dollar by the looters.

If they don't do this, the solution you are seeing now is only a quick fix that will push dollar to sub 800 but in few months or one years time, the dollar will continue its upward journey again.

I guess that was around 2020, I know a number of assets that have doubled price and a number of investors who are making times of what they were making in 2020.


Do business, invest or produce something, you can always adjust the price or fees charged for your goods and services unfortunately majority of us are consumers.


Hoarding forex is speculative, if you must buy dollar make sure it is for business or investments, not to just be in the account or under your mattress

Indians Japa to do business in foreign countries with less than $20,000, an average Nigerian will Japa with about the same amount of fund and start looking for minimum wage jobs

If you don't have anything tangible doing in Nigeria, please Japa.


But if you have suceeded in building substantial net worth,assets, business or Investment, selling these assets, businesses and Investments to Japa is counterproductive most of the time.


A lady loaned her boyfriend N2.6 million in 2020 to Japa with a promise to payback within 6 months, the guy never payback.

The lady got the funds from her BetNaija business,

oluayebenz:


True value of naira is around 600/USD..... I have said it before...

By middle of Sept, naira will range btw 580 - 600 per USD.

Hoarders should keep hoarding, I've said my own 😅. We move 🚶🚶🚶

How do you hoard something that is readily available?

How do you ignore the fact that dollars is scarce but blame the hoarders? You don't want to deal with the reality that the country doesn't earn enough $$?

emmanuelewumi:



Caused by the type of education we receive here.


It is madness to sell your house for N50 million a bank manager, to start working as a sale atendant in a super market or gas station. Na what happened to a relative.


Japa if you must, but selling the house you built after working for years because of this get as e be

Not everyone understand their purpose in life sha.

emmanuelewumi:

I guess that was around 2020, I know a number of assets that have doubled price and a number of investors who are making times of what they were making in 2020.


Do business, invest or produce something, you can always adjust the price or fees charged for your goods and services unfortunately majority of us are consumers.


Hoarding forex is speculative, if you must buy dollar make sure it is for business or investments, not to just be in the account or under your mattress

Investing in dollars to hedge against long term inflation is not a bad idea though. People are only screaming because they want to cash out after a week or a year of "investing."

We have seen Naira fall from N0.5550/$1 in 1972 all the way to 800+ in 2023. It is an investment decision that has never gone wrong since pre independence.

Acidosis:


How do you hoard something that is readily available?

How do you ignore the fact that dollars is scarce but blame the hoarders? You don't want to deal with the reality that the country doesn't earn enough $$?

Yes everybody knows that the country is not earning enough USD.
The little we are earning the corrupt government and to the last citizens keep hoarding it.

You can't keep hoarding a foreign currency and expect to have a strong local currency.

Acidosis:


Investing in dollars to hedge against long term inflation is not a bad idea though. People are only screaming because they want to cash out after a week or a year of "investing."

We have seen Naira fell from N0.5550/$1 in 1972 all the way to 800+ in 2023. It is an investment decision that has never gone since pre independence.

That is why I said buy assets, invest and do business, you can't go wrong.

My grandma land bought for N1000 in 1977 was sold 7 months ago for roughly N60 million

oluayebenz:


Yes everybody knows that the country is not earning enough USD.
The little we are earning the corrupt government and to the last citizens keep hoarding it.

You can't keep hoarding a foreign currency and expect to have a strong local currency.

How much can the average Nigerian hoard sef? Last time I checked, NDIC abi CBN said that more than 90% of Nigerians don't have 500k in their account. So, how much can the average Nigerian hoard compared to what political parties and cronies spend at convention grounds?

My point is that those encouraging you to blame "hoarders," the commoners without 500k are the same people behind the scarcity. These guys are buying properties abroad every day! From Seyi Tinubu to Keyamo in the U.S. Imagine what the other guys are doing with forex! These are the unpatriotic people who poison the minds of their party loyalists to turn against opposition and ordinary commoners.

Do you really think the aboki fx guy, standing under hot sun everyday and hustling for feeding, at Berger market is the reason for the scarcity?? In some markets in Lagos, all of them put together no get $5,000 to sell. You can approach them and ask.


Festus Keyamo works as a Minister in Nigeria but he had $300,000 to buy a US property.

We don't know Seyi Tinubu's job, but a recent news showed that he recently acquired a $10,800,000 US property.

These are the unpatriotic people behind dollar scarcity.

emmanuelewumi:




That is why I said buy assets, invest and do business, you can't go wrong.

My grandma land bought for N1000 in 1977 was sold 7 months ago for roughly N60 million

I know right

Hmmn impressive!