₦airaland Forum

jmoore:
How fast does it take to dispense CNG? I heard it takes up to 8 hours.

How many CNG stations are available?

8hours to dispense CNG from the station into the vehicle? Where did you hear that from?

Nothing excuses or justifies this.

Abysmally LOW.

But these cases at the PEPT will present the opportunity for it to redeem her battered image.

saphiere:
I'm women advocate

Then do your best to advocate for women in other spheres of our societal existence.. .

You're quite smart. Your perspectives and opinions on national issues won't go unnoticed, if you arm yourself with the requisite knowledge.

nairalanda1:
The NNPC comment spoilt the whole thing for me.

I'm not insisting you watch the video because the narrator eventually said anything different from what you already know. I just want you to always have the patience to take detailed glances at contents so you will be in a place to sift out extra information to cement the knowledge you already have.

The young man didn't say anything different from what you and I discussed on this same issue some time ago. Maybe he only just got the exposition on the true situation of things as regards subsidy from 2013 to 2022, hence his astonishment. The NNPCL has not paid any cash subsidy to any marketers within the period under review, but the corporation has been solely responsible for the "Crude-for-Petrol" swap initiative and every other extra claims of expenses that have totalled to over 3trn naira, which has been claimed to be what the FG owes the body.

The entire NNPCL has been a giant mafia that colonised Nigeria's oil industry. One that has even excluded Presidents GEJ and MB. The Presidents sadly only knew the details that were being given them. It's one of the major reasons Tinubu got rid of the subsidy regime on his very first day, because he doesn't want to run a government where a cabal would be stealing more than him..

Buhari's government produced 3 stupendously wealthy men:
- Abubakar Malami - Attorney General of the Federation.
- Mele Kyari - GMD of the NNPCL.
- Godwin Emefiele - Governor of CBN.

Rotimi Amaechi would have made the list because he had the express access to massive resources as transport minister, he had Buhari's unfettered attention and audience, but he was too keen on delivering on his assignments so he could be in the President's good books, owing to the fact he had ambitions beyond Buhari's government.

nairalanda1:
The minute the guy started saying that NNPC was alleged to be paying subsidy, I knew the argument was flawed, and lost interest.

That's not how subsidy works,at least since 2016, and even before then

It's government that pays subsidy. And subsidy is paid to the sector as a whole to prevent it from losing profits when it has to sell at a loss because of government price controls. Most of the cost went to people importing fuel , to compensate them for selling below the cost of the fuel they imported..to the depots. Depots then sold to marketers at a price above what they bought from the importers, which until 2016 were a variety of people including NNPC, after 2016 it was NNPC alone. (Subsidy claims for others were fully paid up by 2018...it was a long slog).

(Also part of subsidy costs goes to transporters...transport equalization funds...which is why until recently, fuel cost the same everywhere).



I still believe there is scam in the way we did subsidy here...the nature of the beast lends it to easy scam things. Also, when you bring in price controls into anything, you get scarcity, and looting, and smuggling.

You're typing plenty. Watch it to the end.

Craddock:
Let the poor.....

Whoever did this screenshot is a Donkey..

Una sure say this Ebonyi state governor go comot road so?

Utilising the resources of Ebonyi state indigenes for trivial purposes, for a state that doesn't even have much, doesn't exactly sound smart to me. If na like this David Umahi been dey waste money, I no sure say him for achieve everything he did in Ebonyi.

And GWR never even confirm the record sef.

Roger3D:
Although I am no longer a slave of the white man's religion, I can help you with a little of what your Jewish book has to say on the subject

1. 1 Corinthians 14:33-35 for God is not a God of confusion but of peace, as in all the churches of the saints.
34 Let the women keep silent in the churches; for they are not permitted to speak, but let them subject themselves, just as the Law also says.
35 And if they desire to learn anything, let them ask their own husbands at home; for it is improper for a woman to speak in church.

2. 1 Timothy 2:12
I do not permit a woman to teach or to exercise authority over a man; rather, she is to remain quiet


Stop following the religion of the white man. It's just another form of slavery

Thank you for showing me. I couldn't possibly have known that cause I don't go to church..

Make e no be say na extra 5K Wema bank add for people salary wey make them dey blow all this grammar o !

In twelve minutes, the thread don reach three pages !

See fisticuffs everywhere! Mah dey my corner before person blow me for eye.

LMAO! Chai, nairaland!

Roger3D:
How can a woman even be the pastor of a church? Such nonsense!

E get place for bible or constitution wey them mandatorily give preaching duties to men?

saphiere:
Any man who invites a lady to his house and does not provide transportation fare is more useless than the lady who asks for transportation money. Why would you initiate a visit if you are not ready to take the responsibility?

Na here you dey sabi answer present.. .

Where people gather to discuss delicate matters of societal importance and economic significance, your two left legs go dey face the opposite direction.

This my friend sef!

Depends on if he's sued or petitioned in court to that effect. Then the court can decide on the requisite penalty. But this is Nigeria. We'll all just make noise on the internet and the media.

tommy589:
Is there no diplomatic relations between Nigeria and Finland?

I have consistently asked the same question.

GeneralDae:
I said until two weeks ago we could still call it converged. Sometimes the black market rate is based on speculation.
CBN can simply ignore it once there is enough dollars available for everyone at the official rate like it is elsewhere.

Exactly.

There right there, is the crux of the matter. There simply isn't enough dollars available. And that is not going to change anytime soon. If anything, it's going to get worse.

GeneralDae:
A black market rate of not more than 30 naira difference with the official can still be called converged. It doesn't have to be 5 naira difference before we call it converged.

The black market rate as at an hour ago is 858 naira.
The official rate as at an hour ago is 793 naira.

Is that a difference of less than 30 naira?

BreconHills:
They are not trying to hold up the value of the naira. The naira is not a new currency. It has obligations attached to it - which if met will reduce reserves in the short term but allow the domestic currency find its true value and create USD stability.

They are meeting pent up demand that is making it hard for naira to find its right value. About 10 days ago they paid out 500m to holders of Eurobonds. Also you cant be owing international airlines $600m and owing foreign investors unremitted dividends and expect quick and accurate price discovery.

Reserves are nothing in themselves if they dont drive economic activity that leads to growth. This was the mistake that PMB made - worshipping at the altar of national reserves. The monthly drain by way of subsidy has gone and one of the ways of efficiently spending some of that money is to pay down debt that fuels inflation and disincentivizes investment. e.g airline debt.


Your education was a waste, simply that unlike many Nigerians you allow political coloration to skew that knowledge.

Bookmark this conversation. The economy will be in a far better state in 6 months than it has been in the last 10 years.

I'll disregard your condescending tone and only pay heed to your last paragraph. We'll all have life so we get to see the outcome of all these economic experiments in 6 months time.

WantsandMore:
I'll remind you of this in 6 months oh

I'll remind you of this in less than 6 months.

Chiefpriestt:
Normally Akure is a developing town. Ondo has no city

A town that is more than 40years old is a developing town? Governance in Nigeria is indeed a debacle.

GeneralDae:
That was achieved until the last two weeks. Still too early to judge.

Brotherly, you just lied.

That balance only lasted for about 10 days after the pronouncement. The black market rate started to race away by about 6 naira on the 11th day, and it's been a consistent widening since then.

I'm not one of these random nairaland users who yap on issues out of sentiments. Even with the injection of dollars into the system from our reserves, the impact has remained subliminal because the currency demand is stupendously higher than the supply and availability.

GeneralDae:
I don't have to read what I watched live.
He said convergence is the right word and like I explained when it comes to parallel market, convergence is the right word not unification.

Convergence is the right word between the official FX or CBN rate and the open market (Black market).

But where we had different official rates prior to the currency flotation, unification was the word to achieve a common rate. The common rate was supposed to converge and maintain balance with the open market.

Has that been achieved?

GeneralDae:
You lack understanding on this. Previously we had several official rates ie CBN rate and the I&E window. Now everything official has collapsed into the I&E window.
When it comes to the parallel market, you can only speak of convergence not Unification.

Go and read Shonubi's press release from his yesterday's meeting, then come back and tell me what I lack understanding about.

As regards certain delicate issues, I do not involve in discussions with people who sling insults instead of proper facts. That I did not elucidate between the CBN and I&E rates in my write-up is because this disparity no longer exists.

But your acting CBN governor says the intended purpose of the policy was not unification, when it was lucidly spelt out that that was the very purpose from the beginning.

Go and read his words to the press.

[quote author=BJanta post=124667206][/quote]Oya enjoy your corn-beef and join your other colleague in that corner when you're done..

Dotherightthing:
Nigeria's economy will NOT crumble in 6 months confirming that your education was a waste!

Same economy that is already tilting on the precipice?

See, there is nothing the acting CBN governor or Bola Tinubu can do right now that is going to reduce the dollar rate below 780 naira in the next 2 months. So long as they all keep putting band aids on a wound that has eaten deep into the bones, it will only get worse.

- The Dangote refinery is NOT going to begin production this year and you can bank on that fact.

- Except this government approves licences and speedily facilitates the processes of setting up modular refineries, we're constrained to depending entirely on fuel imports for the rest of this year.

- Unless the government of Bola Tinubu decides to be sincere enough to eliminate Bureau De Change operators from the foreign exchange systems, the dollar is going to continue climbing, no matter what measures they take and how much of our foreign reserves they inject into the market.

- The CBN has to wake up to its responsibilities and strictly bring the hammer down on commercial banks trading foreign currencies with politicians and other elites to the detriment of the general populace.

- Bola Tinubu has to reverse one out of the two heavy policies he initiated within his first week in governance. Preferably, he has to reverse the floating of the currency. If that is done, and commercial banks are policed and disciplined to halt the racketeering of foreign currencies and with the total elimination of BDCs, the naira is going to record a steady rise against the dollar, which will in turn reflect on the prices of fuel and other commodities.

- And ultimately, those steps are going to facilitate direct foreign investments and equally encourage local production. But I very much doubt Tinubu has the political will to do these things cause they'll affect his personal interests and that of his cronies.

So you can be dead certain our economy is heading for gloom!

Birdbyrde440:
How do you know who the north voted for?

Try de talk with sense abeg!

Na the sense wey you and your Northern kinsmen get na im una dey use lament so na .

BJanta:
But person wey dey chop corn beef far, far better pass person wey dey chop human flesh. Abi corn eater no better pass cannibalists ?

So you dey follow the guy chop corn-beef ?

Gandrova:
Bros you are wrong. You might end in prison custody if you don't pay

Give me one instance of a case in Nigeria where someone has gone to jail for being indebted to another.

001Lagos:
When you see them say "yoruba land", you will think it's anything close to development 😂 😂 😂

As big and old as Akure is, it has been existing as a capital for over 40years without a single flyover..

Aliftedmusic:
Na your Goodluck be that OOO

There's no goodluck in being born in this country..

obyno82:
You a big fat liar.

That one is your problem.. . I've told you my own.

So Akure has no flyover.. ?!