advanceDNA:



I said huge export is what will greatly improve the naira/exchange rate....Dangote's operation alone won't significantly won't do it....u seff said other variables.....and other variables are not align

. the indices that contributes to a sweet exchange rate are many including low corruption.

Its fallacy to say once we don't import fuel anymore exchange rate will slide down to 200naira or 500naira.....

The word Improvement of naira vs USD is relative. If you decide to put a figure on the improvement and say a slide to 200naira per usd. It will be a combination of multiple factors.

"Huge" export alone will also not improve naira to 200naira/usd and it is NOT a low hanging fruit at this time. There is a gestation period for "huge" export when you consider that Nigeria has a huge market of 200 million people. Nigeria has to drastically reduce export of Cocoa and increase export of chocolates and it won't happen overnight. We export lots of raw materials and it is necessary that is switched to refined products.

The lowest hanging fruit for Naira at this time is drastic reduction of refined oil importation via Dangote refinery & other refineries like Portharcourt refinery e.t.c

advanceDNA:


My talk is even more plausible than Reno's claims...

because after we stop importing fuel which is good.....we are still on importing other things even toothpick and all types food including fish, so the demand for dollar won't go away.....

Don't forget corruption....the most common factor in Nigeria....shebi na Nigeria we dey the govt has no plan to take the exchange rate less than 800-1000naira....

They said it a week ago naaa...that any one expecting exchange rate less than 800naira is deceiving himself because they know they have no plans to drive export or improve economy...all they are doing is pegging the currency with our current dollar earnings because the inflation was getting too much

Are you suggesting it is only until Nigeria increase exportation, naira can improve?

A drastic cut in importation , all other variables being equal or with negligible change will improve naira. All sources I have see so far have quoted refined oil to be at least 30% of all importation to Nigeria.

Dangote will have other by products of the refinery asides petrol. diesel . AGO and jet fuel that may be exported as well as the refinery increases to optimal production. For the forseeable future, at least next 1year, the total supply of petrol, diesel from the refinery will be used up by local demand since Dangote refinery will not be producing at 100% capacity yet.

The diesel Dangote is currently selling to Nigerian refined oil marketers would have been imported using US dollars.

1 soldier was killed by BH, not the parallel drawn with Okuama 17 soldiers killed by community members

Penguin2:

The clouds will only thicken than disperse over Tinubu by 2026.

Tinubu has no support base anywhere. Nowhere else apart from Southwest.

no need to argue, the no support base rhetorics is not new, it was mentioned when he was not holding an elective post 1 year ago, we saw the 2023 presidential election outcome. As an incumbent president of 4 years, you will be alive to still repeat the same thing and expecting a different result.

I heard this sermon the whole of 2022 and just before 2023 election.


Someone said if elections are conducted today, alas presidential election is 3 years from now.

Obidients will be useful objects in 2027, they will play a slightly different formation then.

Tinubu is smart enough to unleash all the biggest dragon policies within 1 year.

By May 2026, maybe this discussion should be revisited.

I thought obasanjo advised we contact Zimbabwe on how to combat inflation.

Goody two shoes Baba.

emperor4love:
wen guys de alter pof wit banks,fr agent no be u de do am ursef, den flight nd school fee,pls most agents are agent of darkness no too entrust dem mk u no find ur sef fr Sudan as dem tell my guy na spain

not everyone cuts deal with bank or forged bank statements. It will surprise you that majority got the money.

teeytimi:

I understand the angle you are coming from but sincerely no one spent $40,000 to japa from the country, the recent student japa to UK is the most expensive jada in the history of Nigeria and on the average no family spent more than 25000usd.

I really can't place how you arrive at "no one spent $40,000 usd" . School fees are not cheap in UK, Canada, US , Germany e.t.c. international student tuition per session can be more than $15,000. Proof of funds is not cheap. When you then factor in dependants who are mostly minors you realise why the amount is not far fetched. Off course some people will spend less than that amount.

emperor4love:
using 40k to japa unless u dey carry all ur village ppl join

well, many who left vis school route had to pay school fees, it is not cheap o, they took flight o and yes may go along with dependant(s), they paid visa fees, money to agents in some cases, took IELTS multiple times, showed at least some money in their bank account to prove to visa officers they could survive in new country 6 months to a year.

mrvitalis:

That's a lie trade balance has largely been positive most years... So what's your point

If you don't know just say so

what is the lie? I listed at least 4 reasons, you are narrowing all of that to just trade balance?. We may have positive trade balance,, did we have negative trade balance in the prior years ? What was the relative degree of positivity or negativity in those trade balance in prior years?

Check below:
https://www.statista.com/statistics/383170/trade-balance-of-nigeria/#:~:text=Trade%20balance%20is%20the%20value,around%202.72%20billion%20U.S.%20dollars.

teeytimi:


Your number point is a fact and one main reason we are where we are today, instead of our export to be growing with our population it is reducing.

But the number 2 point is pure fallacy, japa has brought more good than bad to the Nigerian economy. The dollar the japa people remit back to the Country's economy is more than four times of what they used in "japaing".

Didn't you read where the Central bank said the major source of forex in the month of February was diaspora remittance.

The recent waves of Japa in the last 7 years is yet to yield appreciable remittance, it will yield at some point . There is a gestation period for most people who left to begin remit appreciably . It is at least 10 years for most people. If you spend 40,000usd to leave the country, when do you settle down enough to meet your basic needs in your new country and can then begin to remit hundreds of thousand dollars? Sending 100 dollars every month when you used 40,000usd is not bringing the ROI.

There are Nigerians in Diaspora that left 15-50 yrs ago, many are accomplished enough to start building large homes , companies and remitting to families.The bulk of remittance are coming from those set of people.

Youu will agree with me that rate of "Japa" increased a lot in the last 7 years., Most of this new set of japarians in the last 7 years are not self fulfilled in their country of origin to bring any tangible remittance beyond some few hundred and thousands, there may be very rare exceptions, they are close to negligible

If you spend 40,000usd to leave Nigeria and start remitting 500usd monthly to Nigeria the moment you got in to the new country, how long will it take to remit 40,000usd? 7 years. Most recent japarians can't even remit 500usd monthly yet.

Yourprick:
People keep saying Nigeria should export more for the naira to gain, Please was Nigeria actually exporting anything when a dollar was 200 during Jonathan regime?? I'm curious 🤔

The quest for dollar has increased exponentially and our dollar earnings has decreased due to reduced oil production.

Nigeria was producing over 2.3 million barrels per day of oil to earn dollars at some point. Today it is barely 1.5 million bpd, an increase from about 1- 1.2million bpd some 6 months ago.


The japa waves( one way emigration) in the last 7 years is also shooting up demand for the dollar. More people want to school abroad as well( most will not come back). An average individual leaving the country to a developed country spends 40,000usd . Those paying school fees may spend more than that.

The sharp change in taste by low middle class and above for exotic equipments and materials has changed as well. The level at which every lady need to use expensive hair. The high end brand phones as well that are all imported. Even household appliances in many homes are no longer basic that are now imported.


The population increase with no matching increase in production of goods and services .

More money laundering by politicians keeping stolen money in foreign currency abroad or in their underground storage.

These reasons and some others all contributed to what we have now.

Prefrontal cortex is yet to fully develop, this sort of dangerous addiction will put them on a path of no return.

You have yourself to blame for the most part.

If it was truly important, you will create a way, considering you were aware you had no alternative power source. In all you said, you did not state your alternative power source failed.

If you want to be a true achiever, you must learn to be self critical and take destiny in to your hands and not blame "NEPA".

Where is that Picture of Obi and Gumi again?

Cindypresh:


Remove voter's intimidation,ballot box snatching, thuggery, vote manipulation and yakubu inec...Tinupoo won't have seen ordinary 100k votes in Lagos let alone winning the presidency.

You know

you must be kidding. APC card carrying members that are of voting age in all 57 local council development area of Lagos are over 200,000. It is this poor grasp and understanding of politics that make you think Obi can win a presidential election with Labour party when he is loudly absent in at least 12 of the 19 northern states. Nigeria's political landscape is beyond your immediate sphere and the small people you interact with daily. The political mood is skewed on major social media because of the Southern Nigeria youth vociferous voices and numbers with fancy english on X and instagram. Atiku was on the road to Aso rock till Obi emerged to capture his regular vote and the 5 PDP governors injected his presidency dream with a lethal poison.

Lagos is covered so much by the media and pockets of skirmish and ballot box will be exaggerated, while failing to consider the fact the state has well over 10,000 polling units and if there are issues in 100 polling units , it is less than 1%.

I don't believe this sensational news. However, he won Napoli a supposed penalty at the start of the second half against Barcelona, but referee refused to check VAR.
5 goals in 5 games since return from AFCON is no joke. Against Juventus , he won the crucial penalty, that he played and missed but was scored via rebound by his team mate leading to a dine minute winner. Anyone criticising him has a confirmation bias.

Ginomel:


2002. January 27.

I remember that day, but the most traumatic was the day after January 28, 2002; I witnessed hundreds of dead bodies laid on the floor at Oke AFA road, they were recovered from the canal.

Good one.

This is part of my expectations for him when he assumed office on May 29.

https://www.nairaland.com/7707328/what-expectations-tinubus-presidency#123442151

jamafa:


If it's easy why can't you represent the country too.

U go just sit for nairaland dey open mouth.

Let try to appreciate good things if you see one.

How is Nigeria a failure here??

Second out of 25 nations.

Ah bah!!!

actually 54 nations. More than half have not won a single medal.

babeface3:


Provide your proofs. I live in Abuja and I have been handling one or two things at at the statehouse during OBJ regime and even now.
Seyi has an office at Asokoro extension by Force HQ on on the rear side, stone throw from the Aso Rock Vila. He practically doubles at the statehouse. That office is witnesses all sort of visitors seeking one or two things from the cradle of Nigerian helm of affairs. In fact, he daily hobnobs issues of governance on daily basis.
Never have I seen this during OBJ or his predecessors.

https://www.reuters.com/article/idUSL20650909/

https://allafrica.com/stories/200307141109.html

https://www.nairaland.com/196725/iyabo-obasanjo-wrestled-ogun-state

Lumarstone:


Through exploration from oil well. Any further questions?

No wonder you are asking illegal refiners be licenced to destroy the country.

Illegal refiners are not exploring oil , they steal crude oil by vandalisation of pipelines carrying crude oil .

Should i then set up my own illegal refinery after all Government will provide me license?

Do you understand the process of oil exploration ?

SoNature:
I hope someone doesn't die in the process because there's hardly a day someone doesn't die in Nigeria.

So in your warped mind, a country of roughly 200 million, someone will not die. Infact, less than a minute, at least someone dies in your state.

babeface3:


Bloody lie. He was not known at any where near state house.

maybe you just started following Nigeria's politics in 2015.

Not only was he known, in fact Obasanjo,s son in law Mr Bello ( husband to Iyabo Obasanjo) was living in the villa. Obasanjo at one point had to order him to leave the Villa.

Lumarstone:


you got it wrong bro

one question for you. How do illegal refiners get crude oil?

sammymax:
I seriously need advice as I really don't know what the right or best thing to do at this time. Please elders in the house be kind enough to suggest what I could do.

I did not think something like this can still happen in this era but this is what I have to deal with. So my mum flat out told me she does not like the girl I took home because she is not fine. About 3years ago when we went home together she told me this but I just disregarded it like when I'm ready she won't have a choice but to accept her as she is. To be honest she is not fine at all but she gives me peace of mind which I feel is the ultimate.

She was involved in an accident with my dad last year and we lost my dad in the process. During the burial I went home with my babe again and my mum still made her displeasure with the girl show.

The thing now is that I went home again to see how she is doing and she called to speak me again after stating that I had disobeyed her by not breaking up with the girl she said is still not having her and if I insist she is the one I should count her out of the marriage. She can never come visiting or even call her. She will not attend the wedding. Now I am 32 and she is 30

How do I navigate this situation. I plead for good advice. Have you been in a similar situation how did you handle it.

The boldened statement from you worries me about you going forward because it is your own physical assessment of the lady. I suspect you don't necessarily respect her if you have such damning assessment of her physical beauty. I am wondering what convenience you are truly enjoying in the last 3 years beyond the "peace of mind" you stated. Is she economically way buoyant than you?

Lumarstone:
Why can't goverment retrain these people and license them to make there operational legal to enable NIGERIANS have essess of petroleum products.

Hence it's now established that those people called illegal refinery operators can produce those products, I think goverment should give them amnesty internationally for training and retraining to enable the country in the nearest future produce All this things locally than spending huge amount of money in importing it.

I left..!

Enough of this asinine suggestion. Government must obliterate any oil pipeline vandal who set up illegal refinery by bombing them at site.

operators of Illegal refineries are pipeline vandals, economic saboteurs, environmental pollutionists, and murderers.

The oil refined from there will "knock" your car by the way.

Did he cultivate Anambra to feed Anambra state during his tenure? Enough of all these stupidd rhetoric jare.

What stop a governor from cultivating at least major food crops to feed its state.

Mr Niger state can feed the whole of the world.

Talk is cheap. Obasanjo even recommended we start taking lessons on inflation from Zimbabwe , a country with inflation at almost 50% an increase from early 40% in January 2024 .

Anyone can say we can feed the world.

He is obsessed and should be careful with social media statements. He should cry and vent in other ways off social media, enough is enough.

The lady is most likely not worth the obsession, may we not marry wrong.

@ Op, was there willful damage of properties? If yes, she should show remorse to her "husband" and apologise and thereafter excuse herself from the marriage. She may have to payback what was destroyed. All the pre marital life story is a distraction and mostly irrelevant to the accusation on ground.