₦airaland Forum

Lol....they just keep dishing out stupidity for their fellow dim wits to have topics of discussion while they loot them blind.

.....people that can not manage petroleum product refineries are dreaming of nuclear energy...imagine the level of stupidity.??..and some people are jubilant over this foolery?

Lol...they actually dont know what they're doing again.

Lol...i tried to make sense out of the conjectures you put down there and i got instant headache. Within seconds...pure gibberish!!

Dangote is selling all to NNPCL, who then determine the prices as well and the distribution methodology meaning, it is still a regulated market.

Now, we all have agreed that NNPC have been shambolic in managing this sector, to the point where people are calling for the scrapping NNPC. So, What exactly is going to be the difference??

Just like we stated when myopic optimists like you were jubilating when your fellow dimwit proclaimed "subsidy is gone" in his drunken stupor and you all thought suddenly, fuel was going to be available in abundance as if subsidy was the only stumbling block....months down the line , you began crying again


If this were being sold in an open market, maybe, but all being sold to one inefficient, corruption laden entity and you alll are hallucinating??

Do you understand now, that i have broken it down to your low level?

yinkkus:
Stop being foolish and insane!
Things will not be exactly the way it used to be on the long run, there will be slight advantages along the line, dangote is the source, before now apart from price we complained about quality, as per price, we have a local market for God's sake, no landing cost or flight cost, dangote himself to an extent will have a bit of influence on the direction his products go even after purchase. ....stop this insane pessimism , Hallmark of people who just want the statesquo to remain and rejoice in complaining like mad people.
With dangote refinery on board, things will never remain never remain exactly the way it was, there will be changes even not 100% , how will a sane person always feel bad about positive development in the land and begins to prophesy doom , when we are not even there yet, very insane individual you are!

God have mercy!!
What sort of reasoning is this

MT:
So let’s agree with your ASSUMPTIONS that NNPC cannot satisfy Dangotes crude oil needs fully, have you forgotten that Dangote will export some of its product abroad and earn dollars in returns.

That dollars earned can be used to pay for the crude oil it seeks somewhere else.

So tell me how does this put pressure on the naira?

Can you still say you have any sense at all ?


Don’t forget all you typed was assumptions and not facts.

Ouch!!......i know it hurts for one to suddenly realise that he or she is empty headed, on a public platter kike this. Especially when you are limited in readining capacity as seen in your post below.

For knowledge, NNPC imports fuel using a line of credit which is predicated on Nigeria future oil inventory and sales(go and read futures/derivatives market for better uhderstabding). So they dont buy forex or need forex to import. The line of credit limit was about $5.5bn and once they reached that amount the creditors refused to extend the limit hence they cried out that theyvwere owing and ulensss they find a way to pau, they woukd not be able to sustain the supply to the local marlet

Dangote selling everuthing for local consumption to NNPC in naira has little or no effect, especially when no one was buying forex from the Nigerian market to import fuel. Only NNPC was importing and they were using futures on a credit line to import. If Dangote was selking to the market openly and if there were independent marketers alloeed to import as during Jonathans time, maybe it could have an effect

Come back and thank me later in some months for this snall knowledge i have given to you

PARADIZEPRIEST:
you are more daft than ya fcking analysis,because you believe all the nonsense kyari and his cabal feed your fowl head with.YOU IGNORAMUS,

Lol...Queen Elizabeth was not a a kleptomania. Queen Mary, her grandmother was.

I leave the world judge who is the dullard here.

Thundafireseun:
Because I’m too intelligent to be chatting with a dullard

Lol....because you are what??

Thundafireseun:
You are 💯 % correct….

Kindly avoid me Biko

Half education is dangerous

Thundafireseun:
Check it for me and avoid me

Check your facts about Queen of England again
and correct your post

Thundafireseun:
This should be a valid reason why you need to sleep with both eyes open when you invite an OLOSHO to sleep over

A lot of ladies are kleptomania including the late Queen Elizabeth of England… while virtually all Nigerian girls are ungrateful thieves 😤

Lol..lol!!...lol!!
For someone who doesnt understand how a credit line for multinational works and thought part of the reasons for naira devaluation was because NNPC was scouring the forex market in Nigeria for USD to pay for the imports, there is absolutely no need to engage you further.

Abeg....i no fit waste time to educate an overgrown bear.

In 4 months or so when the naira remains where it is or even worsens, you will be forced to do some self studying to improve your thinking on your own.

fatboyslym007:
My deep thinking brother,
While you have muddy up a lot of submissions. I can't fail to realize you have avoided my questions and have drove to other issues.

What has led to the downward trend of the naira? Is FX demand part of it?
If FX demand is part of it. What commodities strain our FX reserves the most?

Is the importation of petrol part of these commodities-led strain?
I have thought deeply before I asked you those questions, which you have tactical avoided by stating a problem if all things equal is half-solved as though it's the current problem.

The local barrel allocations to Nigeria would be sold to Dangote in naira, how does this increase the strain of our FX reserves, if you say it doesn't change anything?


The only obstacle I see is corruption and greediness of average Nigerian.

Above all since you are a guru, what is your solution?
What would you advise the Government to do?

Lol.....first go and understand how a line of credit works, especially in multinational dimension(based on inventory and receivables), and the fact that only NNPC is allowed to import, then juxtapose it on the mandate that only NNPC is allowed to buy from Dangote to fulfil local demand....your answers lie there, my friend.. think deeply.

The same way some of you were jubilating when subsidy was "removed"(we know they have surreptitiously returned it) and claimed that it would make the products more available(lies that were sold by the government because they know the people are dumb).

The same false hope that was sold to the dummies when the government devalued(not floated) the naira when the current Minister of finance claimed that naira would go up for a very short while but would cone back to 700/800 which was the true value of naira according to them...its 1600 for months now and getting worse.....think deeply brother

fatboyslym007:
Ok.
Kindly enlighten us... Since you know how the importation works... Please add in your explanation the relevance or irrelevance of the following pre-events.
- FG approves sale of crude oil to local refineries (incl. Dangote refinery) in Naira
How would this now put pressure on our FX reserves?
- what is the link between FX reserves, local currency in circulation and FX value of naira?
- NNPC being to sole dealer for the Nigerian market.
How does this affect NNPC line of credit in FX.
Are we importing crude for Dangote for us to require FX.
- How would you resolve the 450k barrels for local refineries from our crude oil exploration?
- Are these also in the line of credit you talked about?

Kindly enlighten us sir...
Thank you for your immersed knowledge and expertise

Lol.... this is how Nigerians reason.

Half education.

No wonder they are being taken for a ride by a crimiinal as their president

Ikaeniyan0:
The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

The CBN will now have more dollars at their disposal

Stop exposing your ignorance and half education, please.

flokii:
Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.

Daft analysis

Only NNPC imports fuel into Nigeria and it uses its line of credit. Local marketers buy from NNPC. It has nothing to do with the exchange rate.

Get educated.

PARADIZEPRIEST:
IF LOCAL MARKETERS BUY FUEL FROM DANGOTE WITH NAIRA,DEMAND FOR DOLLARS TO IMPORT PETROL WILL REDUCE BY PERCENTAGE THE DEMAND IS MET

Very dumb analysis

Importation is on line of credit by NNPCL and not sourced from local forex market.

ufotunang:
Yes it will crash the dollars and strengthen the naira..the refinery if working in full stream will will stop the government from importing fuel which will save Nigeria 2 billion dollars spent on Importation of fuel monthly and fuel and disel and other petroleum products will be exported for sale to other foreign countries which will generate foreign currency, dollars into Nigeria and crash the dollars and strengthen the naira against the dollars

It will not change anything.

What you have written below clearly shows you dont know how the importation is ran.

NNPCL as the sole importer does not source for forex from the local marlet. It uses a line of credit.

fatboyslym007:
It could potentially improve the current value.
This is what Dangote PMS mean:
- reduced or outright stop to PMS importation
- We do not need to put pressure on our FX reserves. Hence, the 40% relief from reserves.
- Nigeria still would export crude so we still have dollar inflow to the reserve.
- With pressure off the reserve the CBN can potentially defend the floated naira better.

This is all hypothetical, provided the NNPC does not come up with its usual strange excuses and announcements.

Post below is one of the reasons Nigerians ended up with a person of criminal background and corruption minded fellow as a president.....half education!!

Someone pointed it to you that the value of the currency was not determined by market forces, rather the government deliberateky kept it that low to achieve their targets, the dumb in you is expecting market foces to alleviate that?? How stupid??

Dangote selling all the fuel in naira to NNPC as mandated by the government will not afffect the USD supply and so will have zero effect on the exchange rate, except he sells to other countries and if he does that, like a typical and rational entrepreneur, the money is not coming to boost the coffers of the govt of Nigeria. It will most likely be kept in his offshore accounts so that it is easier for him to use whenever he requires forex to settle his foreing obligations or other financial acqusition needs, rather than bring to Nigeria, sell and then have to source for scarce forex again to take care of his foreing obligations.

There would be those who think it will reduce the pressure on forex demamd in Nigeria since people wont be needing that to omport forex. Unfortunately, i am afraid to disappoint those as only NNPC imports now and it uses foreing line of credit to do that rather than buy USD from the local marlet.

Don't let anyone deceive you it woukd have zero or little impsct on exhange rate.

Mark this post and cone back in 3 months,there would be another set of lamentations by some of you.

Ikaeniyan0:
So because it was devalued, it now means it can't gain value again?

There's a reason the government devalued the naira twice and I doubt you know why

The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

Lol...you know you're lying

BigDawsNet:
In terms of living a decent and sweet life… give it to the bank manager in Nigeria

Bank manager in Nigeria will

Send his or her kids to best high schools & Uni in Nigeria

Bank manager will purchase latest sedan or SUV with cash

Bank manager will take a round trip with his family around the world

Bank manager will have a maid and security man protecting him

Bank manager have high chances of meeting and working with top people in Nigeria

Bank manager will build mansion without owing anybody

Bank manager have access to over 50m loans

Bank manager in Nigeria has top quality health insurance for himself and family

Bank manager can easily send 4 of his or her children to study abroad and paid dia fee once!

Bank manager makes averagely 2m per month aside benefits


Pls do not ever compare a cleaner in abroad to a Nigeria Bank manager…

They will never be mate

Best post here so far!!

erico2k2:
Guy no worry stay 9ja,anyone with the means and refuse to leave or send their kids abroad 2024 like this is unrepentantly ignorant, they lack the up to date reasoning of the current state of Nigeria.

I see a lot of stupidity, dick measuring,ignorance and plain blindness in all the comments here.

My take has always been, make your choice based on what you think your priorities are, as only posterity can judge who has made the right or wrong choices.

Leave comparisons alone as people face different consequences or benefits of their choices. Different strokes for different folks.

Comparing different life choices and situations is the most stupid trait in humans

Lol...mumu.. dey wait for another 50 years, promised by artificial intelligence.....

Rossikk:
Look. One thing you guys need to understand is that OVER THE LONG TERM, Nigeria will eventually get it right.

Nigeria is an unstoppable train.

I asked AI (ChatGPT)

''TELL ME ABOUT NIGERIA IN THE YEAR 2075''

It's response:

........................

In 2075, Nigeria is a dynamic and influential powerhouse in Africa and globally, shaped by its rich history, vast resources, and resilience. The nation has undergone significant transformations, leveraging its demographic advantage, technological advancements, and natural resources to redefine its role on the world stage.

Population and Demographics
With a population that has surpassed 400 million, Nigeria remains the most populous nation in Africa. The population is youthful but has also aged since the mid-21st century, with life expectancy rising due to improved healthcare. The country's population is diverse, with over 500 ethnic groups, though urbanization has led to a blending of cultures in megacities like Lagos, Abuja, and Kano. Nigeria's urban population exceeds 75%, with sprawling cities that are hubs of innovation, culture, and commerce.

Economy and Infrastructure

Nigeria's economy in 2075 is highly diversified, moving beyond its historical reliance on oil. The country has become a leader in renewable energy, particularly solar power, given its geographical advantages. Advances in agriculture, driven by technology and sustainable practices, have made Nigeria a key player in global food security. The manufacturing sector, supported by automation and AI, is robust, producing everything from advanced electronics to green technologies.

Transportation infrastructure is futuristic, with high-speed rail networks connecting major cities, and autonomous electric vehicles dominating the roads. Lagos, often called the "Silicon Lagoon," rivals global tech hubs like Silicon Valley and Shenzhen, with a thriving ecosystem of startups and tech giants.

Governance and Society

Politically, Nigeria is more stable, having navigated through decades of democratic consolidation. Governance is enhanced by digital transparency, reducing corruption, and fostering greater citizen participation. The political landscape is marked by a strong federal structure, where states have significant autonomy, allowing for tailored approaches to development across the diverse regions.

Socially, the country has made strides in education and gender equality, with women holding significant positions in government, business, and academia. However, challenges remain, particularly in managing the socio-economic disparities that still exist, though these are less pronounced than in the past.


Technology and Innovation

Nigeria is at the forefront of technological innovation in Africa. The country has made significant investments in AI, biotechnology, and space exploration. Nigerian tech companies are global players, and the nation's space agency has launched satellites that contribute to global communications and environmental monitoring.

Education in Nigeria has transformed, with a focus on STEM fields, and universities in Nigeria are renowned for their research in medicine, engineering, and environmental sciences. Virtual reality and AI have become integral parts of education, making learning more accessible and tailored to individual needs.


Environment and Sustainability

Nigeria has taken bold steps to address the environmental challenges posed by climate change. The Niger Delta, once plagued by oil spills, has been rehabilitated, and the country has implemented widespread reforestation projects to combat desertification in the north. Nigeria's commitment to green energy and sustainable practices has positioned it as a leader in global environmental initiatives.

Water management and climate adaptation strategies have been crucial in ensuring that the growing population has access to clean water and can withstand the impacts of climate change, such as more frequent and intense droughts or floods.


Culture and Global Influence

Culturally, Nigeria continues to be a global trendsetter. Nollywood, the Nigerian film industry, is not only the largest in Africa but one of the most influential globally, shaping narratives and entertainment across continents. Nigerian music, fashion, and literature remain central to global pop culture.

On the global stage, Nigeria plays a key role in international diplomacy, trade, and security. It is a permanent member of the United Nations Security Council, reflecting its importance in global geopolitics. Nigeria's voice is crucial in addressing issues such as global inequality, climate change, and digital governance.

In summary, Nigeria in 2075 is a vibrant, forward-looking nation that has successfully harnessed its potential, overcoming challenges to become a beacon of progress in Africa and a major player on the world stage.

Lol....lots of responses and replies on this thread just made me realise the depth of stupidity and mumurism that a lot of Nigerians hav5r. This is either plain gullibility or profound stupidity or both.

Thinking Dangote producing petrol and selling all to NNPC as mandated, will automatically solve all the fuel scarcity issues and will crash the price is not only daftness but completely insane.

Wait till you start hearing another story from NNPC

I think you should be the one to be ashamed.
What is your glee in the Tinubu government that is excited to import petroleum products from Malta, a country with no refinery, just a depot, for a country with 5 organic refineries, and then to pay subsidies on top? You should be worried.

This government borrows to pay subsidies, much higer than Buhari was paying because they foolishly accepted to devalue the naira

If you are sane, you should be asking that question rather than who is importing or not?

Im no obedient nor from the East, i am from the same state as tinubu(even though we know he is not from Lagos)...but im no daft to foolishly and blindly support what i know is completely bad.

Wickedfact:
They will reply you on Tuesday. They are currently hiding under the bed as they do every Monday.

Lol...
In their warped minds, they are the smugglers that are cuasing scarcity

confused country...stupid citizenry

Sense

erniok:
In football, trying to force your transfer is as good as refusing to play for your club. He shouldn't have done that if he's not 100% sure of the other club's interest.

Nonsense. Who should play him now when he will be rusty and not match fit? Is the National team a rehabiltaion centre now?

Besides, it was this same Osimehn who insulted Finidi George and swore that if that meant his end to the national team, so be it. Now he needs the national team? He is a nonsense, arrogant and and visionless player

femi4:
December is nearby. He needs the national team now for match fitness.

Long and senseless article...without saying anything new.

Lol....they are whetting the ground for total shege on the mugus who still believe them.

Common sense should tell anyone that the moment the prices increase in Nigeria, they increase in the smuggling zone too...its basic economics

They know the people are gullible and blind so they will tell them that once they increase prices or sell at landed costs, the products will be available in abundance....fools will believe them

All that needs to happen is for the the smart smugglers to increase prices to match their buying prices, so long as their is demand for the products...lol

I thought the drunkard claimed "subsidy was gone" in his drunken stupor.

What are you removing again??

This is to let you know they are fooling all of you

lordm:
Just remove total subsidy

Its easy to know those that went to a quranic finishing school rather than a proper univerity.

MrBrownJay1:
of course they can, its very simple... regulate the price and people will only go and buy where the food is cheaper. if nobody buys the food at exhorbitant vendors and the vendors selling at regulated price is the only one selling, then yeye thieving vendors will have to lower their price or be forced out of business due to no sales.

now the smart-evil ones would buy off all the products at cheaper price and when it is sold out everywhere then sell it at triple the price.

No government has such powers, eapcially in a free economy.
Dont mind these ones....they are in their drunken state....same as the president.

iwaeda:
Does Government have any right to force marketers to sell at regulated prices?

Lol! Nigeria is actually on the cruise.......hear a so called "technocrat" talking...

You see all those overated "Lagos boys" or "Boudillon Technocrats" as they call them are all empty headed buffons who just found themselves in power and used all their gra gra to corner all Lagos state government assets.....this dude Bello, Cardoso, the Minister of Finance, Alake, Muri Okunola, etc are complete dopemus..... you will find out they are all empty headed when you get to engage them on a serious discussion....you will wonder where the so called "brilliance" is??

All na propaganda. Carry the people on handicap