₦airaland Forum

yak:
money house, plz how do I monitor my fbn mmf online? thanx

MathsChic:
I'm sorry if i didn't reply. If you had told me before sending, that would have been much better. Truth is, I get a great lot of PMs and it's hard telling the difference between who's with good intentions and who isn't.

With "little" money to invest, I'm afraid you'll also only make little money, except you are extremely lucky or are just willing to give out your money to the latest Nigerian scam
They have this really cool thing in the US called crowd-funding. I'm not sure if it exists in Nigeria. It involves pooling together little money here and there into a business's capital. The business could be a restaurant, grocery shop, etc. Everyone puts money together to grow the size of the business, and at the end of the month or year get a slice of the profit relative to how much they put it. Of course they also get financial statements and all other related papers monthly. This is particularly good for those with little money as it allows them to achieve much with little. But as I say, I don't know if this is possible in Nigeria.

Another is to buy and sell what you love. Passion can sustain you.

Also possible is mutual funds. I know that's possible in Nigeria.

NavierStokes:
As you have rightly put up in the chart above, here in Nigeria most of the omshore oil fields had been developed a long time ago some almost half a century so the question of capex becomes pretty low for such fields. The important factor here becomes the opex, the opex used to be relatively low for us until armed robber salaries came into play, crude theft vandalisms and shut-ins, security etc. So my point is there should be a focus on the crude theft component, because thats exactly what Emeka Ene is after in this particular interview or article. The former government was well castigated by all of us on the issue of crude loss being about 400000 barrels a day, so we need to know the progress the current administration has made in that regard.

Picture this arbitrary scenario just from a purely opex perspective considering only salaries and crude theft:
If a company's wage bill is $1 million and annual crude production is 100000bbls then the opex costs per bbl is $10/bbl. Assuming you lose or are unable to produce half of that amount what happens, your opex goes to $20/bbl.

I do hope my basic explanation helps.

MathsChic:
Lol. I'm guessing this is Spanish and that these are good words. My knowledge of French tells me
Ella = Elle = she. And that's about all i understand .
Hope you good.

Bevista:
Thanks buddy you for your kind words. Feel free to follow those you do, as long as they enrich your forum experience and, possibly, your life.
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And you can't go wrong with @MathsChic. I observed she's one of the few around here with a good head on their shoulders. Ella es hermosa , inteligente y madurado . ¡Mujer perfecta!

NavierStokes:
From the comments I am seeing so far, the emphasis is being put on the slide in the oil price while neglecting the attendant danger of lost crude. At the moment what we should be doing as a country is to lower costs by becoming much more efficient in our production. A break down of the costs of crude production reveals a relatively high operational cost, i believe our aim as a people should be on how to drive down that cost component, to still make a profit i the midst of this all.

In a downturm such as this the least efficient producers will be driven out of the business, more like a survival of the fittest.

Bevista:
I am keen to hear your recommendation.

Bevista:
Because you need to stay in the business and maintain your market share pending when prices rebound. If you exit now, you loose your customers to other producing countries.
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And as most oil purchase contracts are done upwards of 5yrs, it will be very difficult to come back and win customers if you exit now and prices rebound later.

Arogunmasa:
s I need objective analyisis on this. I bought a 1000 units penny stock of Japur oil before the bubble bust. On getting to my stockbroker I was told the current worth of the stock is N500.

What is the prospect of the company, any hope that their stock will bounce back?

Do I buy more of the stock?

I need sound advice

blym4real:


Sorry if I sounded too hard.

We are cool.

onatisi:
ok I no go talk again . Are u happy now
Now give me a smile

onatisi:
I like u and ur style. But let disagree to agree. All I said was that you should go to your various banks to verify the information given,wasn't that what I said ? We can't and don't know everything ,he maybe right but before you can reach a conclusion ,try and visit your bank first

onatisi:
u are mixing ppl up. I never said i have funded any card

onatisi:
you have said enough let them go to their various banks and do more research

AdeMoss:
It depends on what. But your bank should be able to assist

taiwoliu:
Oga market dey ooo..... i've been busy at work,na y i no reach u since.
this market get as e be ooo, as it is i just close eyes for paper investment for now...... but lyk u adviced, a review is in the offing.



PS: I started floating my offline business..... #lessons

AdeMoss:
Sir, I am not speculating. This is one thing I do on a daily. You CAN fund USD credit card repayment at CBN rate. Every Nigerian have a limit of USD they can access with CBN.

Sanchase:
Devaluation of a country's currency in response to the activities of black marketers is not good economics.

You do not devalue your currency due to influence of black marketers, GEJ did it before (it was wrong). The solution is to exercise control over the supply and trade of those black marketers for example CBN stopped supplying BDC foreign currency but failed to create adequate channel for genuine Nigerians in need of forex to have access.

The best solution is to keep the sale of foreign currency as a Nigerian government facility and provide adequate access for genuine Nigerians, when you devalue your currency you allow black markets to control the government (it should never happen).

Devaluation has severe consequences for a country like Nigeria who relies on so much imports (cost of goods par example).

AdeMoss:
NO. You can fund the USD credit card repayment the same way PTA is funded. Advise your bank to purchase from CBN at their advised rate.

doplove:
Unfortunately, I have evidences to show you that the banks (I have accounts with FCMB and GTB) charge more than the blackmarket whenever I use my cards for foreign transactions. It bemoans my spirit that this practice is only obtained in Nigeria. In Angola, where I work, whenever you use their bank cards to do foreign transactions what you get is based on their central bank rates but, Nigeria is a different story. We need to escalate this to the consumer protection agency.

Bevista:
I do not dispute what you just said about your experience with the banks. However, I wouldn't call it fraud. I just think the CBN is not being very open and honest about the situation. The reality is that, due to falling oil price the FX available for CBN to continue supporting all these foreign transactions is limited. But instead of them to say it the way it is, they keep running around in circles.
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Your experience with the banks is likely not the bank's fault. The banks realized that the CBN was not supplying enough dollars anymore for those qualifying transactions (LCs, BTA, school fees, medical bills, etc) even though the CBN kept telling everyone that it was still supporting them.

taiwoliu:
oga mi sir.... E ku ijo 3

willyede:
@Carpenter
Please can you help me with any credible Stock broker for me to make use of in Abuja as i know that here is not the right channel to say this.

onair:
Hello Carpenter and other investors, apart from Treasury bills, Mutual funds, Stocks and Bonds, what other relatively safe ONLINE OR OFFLINE PASSIVE investment do you know that one can invest one's fund into even if it is just a #100 or $0.5 d yield returns that it brings daily?

Born2berich:
But you also predicted oando selling above Nn100 - N1,000.

NuttyChoky:
Current portfolio loss at 50%... Been holding onto the elephant since January 2015.

Averaging down now! No time for fear

Will continue buying till the bulls return

zendi:
Okay, the info is noted. Like you said, its all from the west.
I just pray we rarely have to resort to it.

zendi:
It leads to more panicky dumping when the breaker is removed, because it sends the message that things have become terribly bad with the market. Remember, people are hyper nervous and trigger happy over their money.
Also it conveys the idea of artificially manipulated market. Do you go to Balogun, Alaba or Onitsha mkts and set off alarm for trading to stop because prices have gotten too low?
People want to trade in as natural a market as possible. So let prices find their level, whatever level.
It may get real scary but ultimately will engender supreme confidence in the market.
I dont remember hearing of circuit breaking in the advanced markets of the western world.