₦airaland Forum

giantstrides:
It's harder to get shale oil, it's quite diff from the conventional means of getting oil, Right now only US companies have that tech.

www.technologyreview.com/news/412912/a-cheaper-way-to-draw-oil-from-shale/

Thanks for the info

giantstrides:
The USA doesn't care that much about the low price of oil, if it gets too expected to slow down this year due to low oil prices. All this powerful countries are worrying to the US as they counter the US influence in their region, so the US is actuallly very comfortablle with the low price of oil, so much so that they are considering exporting their shale oil tech to other countries who have oil but can't explore it.

I thought shale oil is natural, what do you mean by tech

ejiro2130:
It would have worked better than this strategy, the problem with what she was proposing is that the Saudis will lose market shares from to the US,i pity her when she and Venezuela leader was begging opec to cut production, what did they do with the extra billions made from high oil prices? ?

I don't think we will see oil price at 100 dollars anytime soon.

Trust me when I say it will rise.
The Americans are smart, they brought in shale oil to create the illusion that oil is surplus, their target is to crash oil prices

the poster above me though

yomi007k:
Thanks brother.
I was thinking we shud face a problem like ELECTRICITY n solve it even if its for a particular area.
If 5000 people can pool resources together to procure solar panels that can serve communities or LGAs, I believe electricity will be solved to a very large extent.
A lot of ideas in this country are electricity-dependent.
Thank you.

You right bro, but the price of Solar is still on the high side, not many can afford it

sorry bro, what's the meaning of Basel 11

wordcat:
No country can stop America from producing their oil. If the price of oil falls, dem go buy from us and if we wan intimidate them with price, dem go produce and sell cheaper than our own so d thing na win-win situation for them after al, dem no dey give am food for d place where d thing dey for ground.

American has always had their oil, they just wanted to make oil surplus, so the price will go down

@Shreif... Off topic bro

dizeni plans are worthless

blacksta:
I dont understand - if oil prices move upwards it automatically means shale drilling becomes profitable again - The whole point of the saudi scheme was kill off shale drilling by Lowering oil prices - Still doesnt favour most Nations like Nigeria, Iran or Venezuela ( This bunch rely on high oil prices)

America's long term plan, you can't outsmart them

Good news. inverter now in stock

Ymodulus:
I dont think so. Man

I know how you feel bro, but the truth is that it's nobody's fault. The devaluation of naira was inevitable because we run a mono economy system
It could have happened to any govt

Boss13:
Ova I don't see your point. Remit your export proceeds first

So you support CBN's action

Desteenee:
Though the devaluation of a countries currency is a necessary evil during economic down-time, however, I think its really sad and painful especially when one compare it's dollar equivalent.

It's evil and a blessing in disguise.
The devaluation of naira will cause increase in nos of foreign investors into the country

oduastates:
Why should they domicile their forex proceeds?
So that jonathan and his thieving goons can "re-export"
the dollars to their foreign account .
A drowning government.

I think it's a way of CBN resisting dollar outflow, the best this merchant can do is trade by barter

henribj:
thanks for this bit of news.

You welcome

Stakeholders in the non-oil export sector have rejected the Central Bank of Nigeria’s new guidelines on the utilisation of export proceeds.

The stakeholders, comprising heads of all commodity associations in the country, rejected the policy on the grounds that it was a disincentive to exportation. They noted further that the policy contradicted the stand of the Federal government on the growth of the non-oil sector of the economy.

The CBN on February 19 issued a circular in respect of the repatriation of export proceeds. The circular under the subject, ‘Repatriation of export proceeds (oil and non-oil), had mandated all authorised dealers to repatriate proceeds of oil and non-oil exports into the export proceeds domiciliary accounts of their respective exporters.

The circular signed by the Director, Trade and Exchange Department of the CBN, Olakanmi Gbadamosi, stipulated 90 days for the repatriation of oil export proceeds and 180 days for non-oil exports.
Speaking at a press briefing on Wednesday, the National President, National Cashew Association of Nigeria, Mr. Tola Faseru, said exporters were taken aback by the policy adding that it was not good for the economy and was also not in tandem with the transformation agenda of the Federal government.

Faseru said the policy was bound to discourage people from investing in the non-oil sector while having a negative effect on transparency.
He said, “The government has been portrayed as one that is interested in diversifying the economy and lately the economic council listed about 13 strategic commodities that will be employed to achieve diversification of the economy. But a policy limiting the free access of exporters to their export proceeds is inimical to the growth of the economy.

“The sector had been stagnant for years and Nigeria had been continually import-dependent. By 2006, we had a policy initiated by the then CBN governor, Professor Charles Soludo, which favoured the liberalisation of the foreign exchange market.”
He said that the new policy by the CBN sought to gag exporters in the utilisation of foreign exchange.
The exporters charged the government to revisit the policy saying it amounted to policy summersault.

http://nairausd..com/2015/02/expert-reject-cbn-policy-directive.html

If the managers of the Nigerian economy were to be sincere with the nation, they will agree that there is something basically wrong with the continued fall in the value of the Naira. Even when our so celebrated foreign reserve stood at $60billion and an import demand cover of about 20 months, the Naira exchange rate never firmed up. Rather, the Naira was on a slide against other currencies; a situation which negates all known economic principles.

Yet in the early 1980s, when the nation's foreign reserve stood at just $2billion with a four-month import cover, the Naira exchanged for less than one Naira to the Dollar.

So, what is it that went wrong with the economy in these 25 years that the Naira has been so battered to the point of exchanging for as much as N215 to the Dollar? The answer is not far fetched from a mismanaged currency by the Central Bank of Nigeria (CBN) in collusion with the commercial banks.

It is obvious, and the warning signs are crystal clear, that Nigeria's economic managers have broken the doors to economic sanity and compelled Nigerians to tow the path of poverty. Before the free fall of Naira which began with the introduction of the Structural Adjustment Programme (SAP), during the regime of military President, Gen. Ibrahim Babangida, Nigeria was never rated among the poorest nations of the world; neither did Nigerians crave the Dollar nor did 70% of Nigerians live on a Dollar per day.

As a panacea for the deepening poverty, advocates like Henry Boyo, have proffered a better managed currency for a stronger exchange rate of the Naira as the only solution. It is discernable that the poverty in the land correlates with the depreciation of the Naira; and regrettably, the value of Naira does not correlate with the high foreign reserve.

It is an economic contradiction; an aberration which suggests a deliberate manipulation of the currency - and by extension the economy - to keep Nigerians poor.

Else how did the affluence that resided with the Nigerian and his Naira in the 1970s and early 1980s suddenly vanished into thin air, so much so, over 70% of Nigerians, today, are now suffocating under the yoke of poverty?

The CBN, as the manager of the economy, has as its prime mandate, price stability. That, of course, can only be ensured through a stable exchange rate. But the CBN is known to deliberately devalue the Naira on monthly basis through the creation of excess liquidity and the substitution of Dollar earnings with minted Naira to be shared at the monthly federal allocation; thereby creating scarcity of the Dollar and surplus of the Naira in the economy.

It is only logical, economically, that with a surplus Naira pursuing few Dollars in the open market, the value of the Naira will continue to fall. The CBN is, therefore, deliberately devaluing the Naira, with the prevailing climate. Certainly, this policy needs to be reviewed.

This Newspaper is of the opinion that with this CBN policy, the Naira will never witness any stability. That the Naira is on free fall is not just because the international oil price is down - after all, when oil sold for over $140 per barrel the Naira was never known to have risen in value - but the fact that the CBN acting on the advice of the Brettonwood institute is deliberately keeping Nigerians poor.

That is why, for 25years, Nigeria has been fighting excess liquidity. Nigerians need to hold the CBN and the commercial banks accountable for the downward value of the Naira. That is the only way to arrest the deepening poverty in the land.


http://nairausd..com/2015/02/the-danger-that-come-with-naira.html

kakashi12:
i think hashirama is stronger than obito

Obito was a ten tail jinchiri

The naira on Thursday crashed further against the United States dollar from 215 to 220 at the Bureau de Change segment of the foreign exchange market, following the closure of the Retail Dutch Auction System and Wholesale Dutch Auction System window by the Central Bank of Nigeria.

The naira also weakened to 199 to the dollar at the interbank market, compared to 197 on Wednesday.

The CBN had on Wednesday said all demands for foreign exchange should be channelled to the interbank market, adding that only genuine demands for foreign exchange would be met.

May God help us


http://nairausd..com/2015/02/dollar-now-sells-for-n220-at-bdcs.html

charismaticdave:
appreciate @op, your list is awesome, but you are looking at sheer ability, your list is okay, but to be a great ninja, you have to be technically, mentally sound, to me, according to Buushin and Shippuden, Naruto is the strongest. Itachi should be up the list a little and according to what I heard about the manga, kakashi should be up also, all the ancient guys should be weeded out

Point taken

Misterlaby:
Seems like a tech blog...

Have Always love blog with original contents..

It is well arranged.... Categorized well... Page loads very fast..

And the inverter tutorial looks fancy and enlightening...

Another blog site for me to bookmark as an engineer of sort.. Lol

Site Bookmarked

At this rate my fone bookmarks will soon be filled up o.. Lol

Thanks boss, I am really flattered with your words

bedfordng:
could not be able to view desktop version since am using mobile. you are using responsive template and the site not bad on mobile.

Thanks boss

bedfordng:
blog not bad but you need to work on widget template and make use of it.

Please review my blog www.charpell..com

joshuamoses101:
fine write up bro but i dont quit agree with some...like that of madara being stronger than the first when clearly he defeated the guy in all their competitions....and by the way who be those people when put for 1 and 2 where them come from.......and why jairaya no go dey there and small kakashi and kabuto dey ......this least needs restructuring

If you are current with the anime and manga, Mandara had long time defeated the first.
1 and 2 are the originators of chakra

u

Here is a short Video Description

https://www.youtube.com/watch?v=CqKR1yT320Q