Malcolm21:
Someone kindly help please

Multiply all and divide by 10..
uwc

It baffles me nobody is talking about who is responsible for this... cos this is from a dam

There are 2 ways of interpreting the information...
The true picture is that imports have dropped so much cos of high exchange rate....

EvilMerodack:
Just one person

Not news worthy

Next!

Shebi nah evil be ur name b4...

BreconHills:


Why not reply to him with your logic and wisdom? He has laid out an economic argument - debunk it.

Can you sell any products below the cost price? If you can, tell us how it will be done and how you will continue funding it?

And what are the cost elements?

Do u realize we produce crude oil at about $35/bbl whereas intl price is around $75... so I ask again, what are the cost elements to locally refined petrol?

40% dollar demand reduced...but he failed to talk about the reduction in dollar supply due to the crude that will not be exported but will be supplied in naira to the refinery

ednut1:
well maybe he was expecting dangote price to be significantly lower and not need subsidy. But now reality don show.

simple arithmetic shows that can't possibly be... the only savings in total cost for petrol refined locally is logistics costs of crude out and petrol into d country... that is prolly some 10,12% savings on imported petrol landing cost

DeLaRue:
What should we do.

Dangote refinery can't sell to us below what it costs it to produce the petrol.

NNPC claims they are owing over $6 billion due in part to subsidy payments. Yet you want them to continue to pay subsidy so petrol price can be low.

If the country can no longer afford to pay subsidy, we need to face the reality that with the exception of the Arab nations, petrol is an expensive product in almost every country in the world.

In Niger Republic, Ghana and many other neighbouring countries, petrol sells for around N1300.

It is unrealistic to think petrol cam continue to sell for N600 here.

If we have to pay between N850 - N900 for Mr Dangote's petrol, we just have to manage it.

Petrol is expensive cos of d exchange rate

Notfogotten:
When we say a toilet cleaner in USA, Canada, UK, Australia is better than the manger of zenith bank, what we mean is that the toilet cleaner will never suffer what you are currently suffering in Nigeria.

Example include:

A. A toilet cleaner will never queue for fuel.
B. A toilet cleaner is less likely to be kidnapped in those countries
C. A toilet cleaner has 24/7 electricity.
D. A toilet cleaner has access to excellent Medicare.
E. A toilet cleaner is less likely exposed to armed robbers
F. A toilet cleaner eats better food and fruits than your bank manager.
G A toilet cleaner has access to good amenities
H. A toilet cleaner may have his children schooling for free in primary and high school
I. A toilet cleaner has a longer live expectancy than your bank manager in Nigeria.

And what are the things a bank manager has in Nigeria that a toilet cleaner doesn't have abroad?

This is a disservice to mankind... how can u put up a 52yo car for sale.. something u should b begging pple to come and pick... just imagine... or better still donate to a museum... this is just ridiculous... I mean this is Africa fGS.. not a land of crazy white fellows!!

What's so special about court marriage? Are u planning to elope after the marriage nii? Court marriage is what gives the most legal backing and protection to the marriage and to the woman.. If she is really the one you want to marry, I don't see any issues with it doing it b4 the trad and white wedding

immortalcrown:
1200 Naira in 1976 was 1,935 Dollars. That is 3,076,553.25 Naira today.

U didn't consider naira or dollar inflation!! What 2k usd could buy in USA in 1980 is not the same it can buy now! He should be paying at least 12M

U should.have just kept quiet rather than disturbing d airwaves..

CyrusVI:


From a normal(Philosophical) standpoint, she hasnt done anything wrong. The ex-husband is gone, why would u put your enjoyment on hold to honor a dead person that doesnt even know anything anymore

From a cultural POV, she's wrong.

Its why Our cultures and traditions should be followed even when they seem illogical to us. They may not really mean anything serious but they still do mean something serious


Therefore, Shes right and wrong and her apology is both needed and needless

Racoon:
Another round incompetent fellas based on tribalism and nepotism. Why can the DG DSS be a Bayelsa or Ijaw man? Must it be a Yoruba man.

We at least thank God it's not a fulani herdsman.. though even with that we can only pray & hope that the fulani terrorism situation gets better

Manculated:


This kind of house plenty for ogun state like kilode. No single graded or tarred roads in those neighborhood.

Massive poverty in the midst of riches.

Sorry - which riches?

englishmart:
Before I collect money from my siblings, I need to write a 450-word proposal. That doesn't even guarantee anything.
In this life, pray to have caring people around.

U yourself are u caring ?

[quote author=raystar96 post=131181944][/quote]
U are not aware that our crude production was about x2 10 yrs ago.. it was 2.2mbpd in 2014 and about 1.3 now. .. serious govt will try to get it back up to 2mbd to start with... there are many other exports that can be encouraged... there is also a lot of imported things especially food items that put pressure on fx that we can actually produce here.. the govt needs to find out how they can create policies and environment to make that happen..

raystar96:
At least I can think of something..you what can you think of

U are just a comical character... I think I like your simple mindedness though. Lols
Let me now help u a little - . dorm accounts are actually in banks so d fx is in d hands of d bank in reality..
FX price is determined by demand and supply at a particular time.. the way to drive it down is increase d dollar supply by creating more avenues for fx to be gained such as increasing crude exports and other exports

Zwooks:



Be letting them deceive you. I'm with farmers and know all their extornist behaviors you don't know. Continue to fall like mugu

Well... u should remember your secondary school economics that says the lower the supply or higher d demand, the higher the price! It's human behavior..
This is what makes crude oil price fluctuates -- change in demand & supply...
For this yam situation, apart from insecurity expense, the supply has greatly reduced cos of lower number of farmers going to the farm cos of fulani bandits.. a reasonable govt solution to the problem should be to decisively deal with the banditry.. very straightforward a thing. When there is adequate supply, there won't be opportunity for any seller to increase price abnormally.

raystar96:
Going with the economic downtime that the Nation is currently experiencing ,it is imperative to say that we should put religious and tribal sentiment aside to get it right as one.The Financial segment of the country should embark on ;

Policy Reform's On FX transaction In Nigeria

For no reason whatsoever should any body maintain a domiciliary account in Nigeria. Only the bank should be the sole custodian of FX in Nigeria.if this policy is effected ,our Naira would appreciate beyond measure.

Joker of an human being.. before u put down any suggestion , u should think of why exactly it would work and why it may not work

FreeStuffsNG:
The Senate is perfectly in order.

The money doesn't belong to the banks!! It's money created by the CBN's unification of the forex in both official and parallel markets.

May God bless Nigeria for ever! Check my signature for free stuffs!

What should happen to companies who suffered as a result of the policy-those who had fx losses..FMCGs like Cadbury, NB, Guinness... will they be given windfall grants ?

Judolisco:
U might not own.. But u guys benefit from people who do....it's a matter of time... Fowl yansh go soon open

And when fowl yansh open, what will happen next?
NOTHING !

BlindAngel:



That's the church she was attending before we got married, so I don't want to stop her in order for it not to seems like I'm wicked and for her not to call me names.

Yesterday she reminded me that after our marriage my family forced her to do thanks giving at our church. She has been saying this for long, but stopped, until yesterday.

I told her that doing thanks giving at our church is now a bad thing or something that's forceful?

She cried a lot yesterday because of our argument of this naming.

Same tears she used in forcing me into getting married to her when I wasn't in anyway ready.

This is a problem that should have been avoided b4 d start of marriage.. u should.have both agreed on which church u both will attend together... ordinarily, the practice is the wife leaves her church for the husband's church.. but of course they both can agree to her church or another church. But it is very BAD to be attending different churches from the outset.. which church will the children be going to? U need to find a way to resolve that ASAP

Realdeals:
CBN is not defending, but only intervening by selling at the prevailing market price. They are meant to be intervening in the market because they are the custodian of the FX earned by the government.

U get d gist... 90% if our fx earnings is from oil jointly earned by oil coys and FG(NNPC).. the oil coys exchange only a little part of that to naira for local salaries & local naira expenses... The FG is still d biggest earner of fx.. That the FG doesn't now have fx to supply the market shows u there is a very big problem

hotwax:


You are not in synch with reality.

Most cassava, palm products, tomatoes are bought by tomato paste factories.

Ask someone who is into agriculture…not 1 plot of land agriculture.

Tomato paste factories abroad or what?
The same oil palm that we import 60% of local demand?
See be real... we import too much of food items that we can easily grow and now we are adding maize to that... that is embarrassing apart from adding to unemployment and $ demand..

hotwax:


Even an Agric power like China and USA are importing foods. They also export. There is no harm in importing foods so far you can export your own.

Nigerian farmers are producing but exporting it, so citizens are left stranded.

Which one are u exporting, joker

BeeBeeOoh:


https://www.thecable.ng/presidency-suspension-of-taxes-on-importation-of-food-commodities-not-yet-official/amp/

Shouldn't govt officials be ashamed that we have gotten to this point of removing taxes on imported maize BECAUSE WE CANT GO TO OUR OWN FARMS?

donestk:
What about the high cost of every other thing?

Important to dimension things properly
Everything imported are affected by the dollar rate which has increased 100% in the last one yr.
Local food items if u notice are HYPERinflating and that's because there is scarcity induced by insecurity.

And yes, diesel, petrol costs and living costs also add to the prices of everything- local esp and imported..But the 2 reasons above are far more significant !

donestk:
1. Reduce electricity tariff.
2. Reduce fuel pump price

If these can be implemented now, things will improve in the next 3 to 6 months.

Labour should direct their industrial action to this strategy rather than minimum wage which will be gulped by energy bills.

not entirely.. the primary cause of food hyper inflation is scarcity as a result of fulani herdsmen sacking farmers from the farms

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