₦airaland Forum

jpphilips:
Nigeria is operating a fixed currency regimen, like a subsidized currency in lay man's terms, since our oil revenue come in dollars being the world's trading currency, it makes sense to subsidize it more than others.
If we had trade interest in Euros and Pounds more than dollars, the CBN will reverse the trend, it is an economic necessity not an accident.
So the more we lose forex reserves (dropping crude price) the less money we have to support those other currencies.

Now, since China is a manufacturing economy that has everything we need (the Computer you are typing with is a good example), we need to exploit their weak currency since we are equally running out of $$.
Emeka will open LOC with a Chinese company and his bank will pay the company $$ from CBN's reserves that is drying up, now the CBN says I need to get Yuan for Emeka which is lower than the dollar accommodate more Emekas.
Because the $$ is stronger than the Yuan, Emeka's goods will land cheap and you will stop complaining about high cost of living.

Now Clap for Buhari!!

Sounds good theoretically. But you are forgetting "forex controls". If cbn restricts how much yuan the people can get, then it'll push them to the parallel market. Then the exchange rate between naira & yuan will rise, thus defeating the purpose

billyG:
Think son,do u know how many SW travel 2 london everyweek 4 mundane things as naming ceremony,wedding,tourism,medical Treatment,shoppings,owambe party,school fees,same with france,germany,italy wher we hav large numbers of SE,making dd 4 pound,euro high.

Don't flatter yourself. So the reason why pounds and euro jumped to over 60% of its former price is because of what you stated? Pls say sumtin else. If you had mentioned dollar, it'd have been different
. Since the economy started expeirencing difficulties there has been reduced amt of people travelling for such things, so the demand reduced but the exchage rate hasn't.

Everyrone keeps talking about how this move will reduce pressure on dollars. Even the report says 90% of Int'l trade in Nigeria is done in dollars, but nobody is asking
Why then has pounds and euro risen this high?
Coz despite the fact we'v been dealing with dollars, the exchange rate of Euro"s and Pounds has also gone wayyyy High. How does this move help euros and pounds? Coz everybody is just mentioning dollars! Dollars!! Dollars!!!

75k for phone screen? Op your name must be LIENUS Eze-ashi!!! Even Gorilla corning glass 3 gan no be 75,000.

Ryder306:
Egbon, is there a blog, forum or website where one can get nigeria financial news n updates as suggested

Ermmm....
1) well follow closely the business news on nairaland, especially any news that Involves Monetary Policy committee meeting

2) Visit nairametrics.com (for business news)

3) If the economic terms u read aree confusing, visit Investopedia.com for easy explanation

aloeman15:
My people.
Wetin dey do una for dis nairaland?
Ok.
Why refineries will NOT work.
It costs us $25-30 to produce 1 barrel of crude (meaning we actually lose money when prices are below $38). So-
Its cheaper to import.
All our refineries are LONG past their sell-buy date, so-
Its impossible to work at up to 30% capacity. Any news to the contrary is a bare-faced lie. After all they should be able to prove their claim, abi?
Dangote is building a giant refinery at the lekki ftz.
And nigeria will IMPORT his products and PAY IN DOLLARS, so-
Expecting either the old ones or modular ones to come onstream is just laughable- My guy must make his paper.

Are we all now clear on what's what?
So any govt who hasn't told you these truths is simply fooling you.

How do we lose money Our overall cost of producing a barrel of oil is $31.60 while the global price is say $38/barrel so we make $7 profit. But this isn't exactly correct, because the overall cost of $31.60 comprises of Operational cost & capital expenditure. With the fall of oil prices, most oil firms have drastically reduced their capital cost, thus having an impact on the overall price. The operational cost in Nigeria of producing a barrel of Oil is about $15-16/barrel. So if the capital expenditure is reduced to its barest minimum it could mean our total cost of oil production could be about $20-23/barrel. You can call it the "fiscal policy implementation"
And No! We will not import dangote's fuel. Coz its In Nigeria, so we'll save our forex reserves used in fuel import since we can now meet local demand. So let's say dangote's refinery is still a blessing to look forward to coz it has got the capacity to meet our Local demands.

NNPC say we consume 40million litres of petrol daily... They say:
Portharcourt - 4m - 5m litres
Kaduna - 1.3m litres
Warri - 1.4m -2m litres
Our refineries current output yields about 8m litres of fuel daily

***************************************
But at FULL CAPACITY we can produce = 19m litres of petrol
**************************************
If The Total of Our refinery, refines 485,000 Barels per day and was made to produce 19million litres @ Full capacity........its wise to say Dangote refinery with a capacity of 650,000bpd SHOULD END FUEL IMPORTATION
Because Dangote refiney should produce atleast 23million litres of petrol/day. Reducing drastically our fuel imports.

MathsChic:
This move by the Buhari administration is almost a strategic one. You'd recall that the Naira/USD exchange rate took a dive during those troubled periods once Nigerian importers who had made deposits with Chinese firms began to source for dollars to meet their varying commitments. That exchange rate would have seen less pressure, were they sourcing for the Yuan instead, a currency Chinese firms will accept. The trade between Nigeria and China was once recorded at over $11b dollars with, of course, the imbalance being to Nigeria's disfavour. But that's not the point; Nigeria has never really been an exporting country.

Nevertheless, it's obvious there's a lot of trade going on between the two countries. Since you couldn't exchange Naira directly for Yuan, but had to first obtain the USD, the various additional costs incurred during the two-stage transaction ensured Nigerian firms spent more money doing business with Chinese firms. In addition, by not first exchanging to the USD Nigeria can start reducing its dependence on the dollar. And now, I don't have to tell you how much the greenback swings the Nigerian market.

Not to get it wrong though. This will not increase the money in Nigeria's pocket, neither will it completely eliminate dependence on the dollar since some countries will not accept the Yuan while trading with Nigeria. In fact, Nigeria will have to convert a sizeable amount of its earning to the Chinese legal tender causing the country to hold less dollar. However, if a significant amount of trade is happening with China, there is no reason the Nigeria shouldn't have a Yuan trading hub.

The Naira will be the latest in a string of currencies which currently trade with the Yuan. There is already direct trade with the dollar, euro, yen, pound, the Australian Aussie, the New Zealand dollar, Russia's rouble, Swiss francs, the Singaporean dollar and the Malaysian ringgit. By joining the list of these countries, Nigeria is expressing its desire to take China seriously as a global economy and directly take on the benefits that come with that.

Well spoken but then this move may not ave so much impact, here are my reasons;
1) How much reserves is in yen, and will it be able to meet our high demand for yen?
2) How will individuals get the yen, will CBN forex control still apply? Because these could mean the BDCs taking huge advantage of the potential scarcity.
Although this seems good on paper, theoritically I don't see how this will eventually favour the FX market rate. Because despite the fact that nigeria deals a lot with dollars, the exchange rate of euros, pounds. rand and even cedi rose high just as the dollar-naira rate increased. With the huge import (demand) from china, its just a matter of time before the average nigerian buys yen at a very crazycrazy rate

Whenever barcelona loses, most peep are very happy. But that's one of the moment ofbeing an FCB fan. You win, You lose You draw. Its still a game!!! Onto the league & copa del rrey #visca barca #visca catalona giant

Bossman:
Low interest rates these days. I fixed 4m for 6 monthswith Access bank on the 15th of last month. The gave a 6% interest rate. Projected interest at maturity is approximately 107K according to the documents they gave.

Next time don't be in a hurry to fix that long. You should have done 1or 3mnths because of how poor the rate have been. Observe the financial news to know when to invest for short/long term so you can take advantage of higher rate and compounding interest.
With inflation that just hit 12.8%, I'd like to have you know F.deposit rates will rise futher. That will be the way CBN can curb inflation since they'v lost the battle against the forex. I'm nt an economist student tho.

I just dey laugh @ the comments, so because the yen is now to be traded on fx maket, una dey happy? Have you forgotten that the laws of demand & supply will apply? Have u fogotten that our black market dealers will deal in yuan too With our high demand for goods in china its a matter of time before the exchange rate of naira-yen shoot up!!!
See ghana wey be baackyard, formerly 1cedi was about 50naira, now banks charge 1cedi - 90naira and pple don't demand for cedi like they will demand for yen. God help our ignorance!

This maynot be tekno's baby. It could be a way just to drag the media attention to his side.
This was the same thing Harrysong did when he called his God-daughterr "his daughter" and the social media went frenzy. This could be his sisters/brothers child or something.....
#DONT BELIEVE EVERYTHING YOU READ ONLINE #

See the kinda role model, our young peeps dey emulate for music industry.

This is bad bad news for investors. You invest in fixed deposit at a rate of 7% or in t.bills @ 10% only for Inflation to be moving @ 12%, where is the gain? Your purchasing power just be getting eroded.......Real estate still remains the best hedge against inflation.
CBN monetary policy isn't workig @ allz. The increased MPR rate & CRR isn't doing Poo...
Bad time for money market/capital market investors and worse time for savers & consumers #Real estate Investment, the best way to float against rising inflation
Land prices for the prime areas in Lagos
N/Psqm - Naira per square metre

Senorprinz:
bitter leaf or pawpaw leaf?

Are you trying to mock me? Because last I checked, that's a correct english sentence :-)

Op na true you talk o. I'm a victim of such act. I noticed that I found it difficult to spell easy words all because I was abbreviating....I'm gradually turning a new leaf sha

layla129:
I've not kuku had sex

Ishi gini?

korel9:
I know many would wonder why such a question but the rate at which children of nowadays venture into having sex is very alarming.

Earlier today I heard of a 13yr old girl who took in for a schoolmate who is 3yrs older than her.

As for me I had my first real experience at age 22 and was actually disvirgined (not the other way round) Not that I didn't have a girlfriend before then.

So share, how old were you when you had your first real experience and are you still with the person you had the experience with?

18+ only

Op could there be a relation to you having sex @ 22 and having followed 116 people on NL, bout 112 are ALL FEMALE.....do I see a possible relationship with both worlds?

grad2012:
Op u look good jare.

Op is good but your NL pic is "gooder" lol. #if such word exist. #seeing things

The kain "lamba" I dey read for here eh. E don burst my brain finish. Ndi ashii juru ebe a n'uwa...........okay mke I add to the lies.
I met my gf in nursery 1, when I saw her at that tender age of 4, I knew she'd be the one,hehe.

Yes it is wise to obtain loan to start a biz. But the bizness plan has got to be worth. Someone hs pointed out that the interest on the loan would be like 29% per annum. Can you handle it?
Remember startups require that the profit yu get is RE-INVESTED into the bizness so it can grow. If the loaan can generate enuf return to cover 29% for the bank nd to cover your operational cost and still remain few sums to continue the biz after you'v repaid the loan, then move ahead. I believe by now you should hv done enuf research to know how much r.o.i is obtainable if you engage in such biz

Yuneehk:
Lol! I'm not gonna answer that

Lol hmmmm.....yur looks seems innocent to choose yes but looks can be deceptive. So I'll pass:-)

Yuneehk:
Meaning she was pregnant before the wedding.. Anyways congrats to both of them

Yikes, a black beauty we have here. So whats yor verdict? Do u share her idealogy, of no sex b4 marriage?

Dexema:
depends on the outcome of klitchko v. Fury, sincerely I hope fury beats him again, both brothers deserve some "rest".

That's true, its suprising how the klitschiko brothers will come to fight after a long period of absence and still uphold their title. Its amazing how they can pull off such stunt. Well until then, I hope "joshua" will win the world title. And not be a One hit wonder like samuel peter

SirShymexx:
Lol. I'm just a boxing-buff and I've been following his career cos he's a normal who took boxing coincidentally and he's great at it. However, he's still grounded, humble, and has remained the same person - without letting the success get to his head. Everyone can relate to him and when the cameras are off, he talks like a normal guy and he's always smiling. A real one.

Tyson Fury is a bum and a grown man that acts like a kid. He just got lucky Wladimir Klitschko didn't throw that much punches when they met, perhaps due to height and reach advantage. When you watch how Fury struggled with another bum, Dereck Chisora, when they first met - you'd know how rubbish Fury is. Heck, John McDermott, almost knocked him out when they first met.

AJ would knock him out if and when they meet. AJ is a road guy and he isn't scared of no one. Only his promoter, Hearns, might want to delay the fight. AJ wants to shut him up and knock his bum arse out and the whole UK wants to see Fury on his bum.

Only Luis Ortiz and Joseph Parker will most likely give him problems. And maybe Haye but Haye is undersized. He'll beat Wilder, the yank hype job as well.

Hmmm....nice #learning new stuffs. Well then, lemme support our very own. Anthony joshua to the end. :-)

SirShymexx:
He would've knocked Dillian out in the 2nd round as well, if there's no emotions involved in the fight. He caught him twice in the early rounds and got carried away, threw caution into the air, and Dillian caught him with a hay-maker that hurt him. Hence he had to box till the 7th round.

That fight had a lot of street shyte and disrespect involved. Dillian said a lot of nonsense and he turned it into some North London vs. South London beef of old. Coupled with the fact that Dillian did beat him during amateurs when he just started boxing, while Dillian was already a martial art champion. Too much was involved in that fight and it was about respect, hence he didn't fight the normal way he does.

That said, he'll knockout all the bums running the heavyweight division right now, as long as he can stay focused, grounded, and continue to improve and work on his craft. His jab packs huge power reminiscent of Lennox Lewis and he can box, hence he won an Olympic gold medal.

You seem to be an ardent follower of his boxing career. Thanks for the added info.hopefully, he could go fo the world heavyweight title. I'd like to see him fight the latest kid on the block. Tyson fury. It'll be mad mad fight.... Two giants with impressive stats and known for their knock-out records. It'll be bad a.s.s!!!

This guy is a beast, just incase u missed that vital info. Here is it below;









All his fight except one has never last beyond ROUND 3. Joshua is a K.O LORD!!!

If I get you right op, a chick that you were trying to razzle. Came to you after a long time of shakara, so you culd offer help to restore her failing r/ship.....In otherwords, you offered her a shoulder to cry on & helped fix the situation for the lady to be with her man when infact u dey die for am? Its all good, just be careful. Coz as I see you, I see FRIEND-ZONE COMING :-) #lekwa gi, lekwa friendzone

Festivalofholi:
show bravado to a beautiful girl, and u will end up quarelling with her every week, until u get tired and either yield to her whimps or dump her.

I guess what you mean by bravado, is to be all out more like being arrogant and very showy No! That's not my point. I mean not yielding to her every request, acting natural with a very beautiful woman can be a daunting task to most guys. Coz we are always doing things to please her & make her regard us as no1. But trust me, this is how over 50guys that chyke her will always act. If you act normal, if you don't always make her feel like she's a world best. You'd seem different than the rest guys. But this isn't as easy it sounds esp if its someone u really like.

A wise man once said; a farmer who plants his corn by the road side and a man who marries a beautiful woman will both have the same problems...
Actually the reason why u'v said this is because, Guys always grant the request of a very beautiful chick. If she says baby let's do A, you'll do. If she says let's do B, you'll do......Infact she sees you as one who will give consent to her every action, it takes ONLY A CONFIDENT guy to act natural around her. CONFIDENCE is a very attractive trait, that's why on school campus, you can find an Ugly boy rolling with a beautiful chick. Our self esteem plays that role in dealing with such women. I'v been a victim and have learnt from it

lekkie073:
job was tempted by satan....he was once rich but all his ruches vanished. ..u know the end. everything is life us for a reason. everyone cannot be rich. even the bible said the battle ia not for the strong neither is the race for the swift.....its all a matter of time and chance. if u r not ordained to be a rich man no matter how hard u try u will never be rich

This is not true. God "allowed" satan to try job because his steadfastness to God was so much, God had so much belief in Job that he wouldn't deny him even in time of want. Certain temptations & trials are test we must face before we meet promotion says tb joshua. If you read your bible well, it saysafter the "trying times" job got back twice of the riches he had before.
Pastor chris oyakhilome says although there could be miracle in growth, Growth in itself isn't a miracle. Its an application of revealed principles & means. No matter who you are (Good/evil), if you apply these revealed principles & means you'll grow but as a christian, there is what is called Good success. Success not solely from human effort but through spoken word in manifestation.
If you still doubt me, see this passage below

lekkie073:
can u ask God:
why some people r poor while some r rich?
why evil people live long and some good people die young?

no logical answers....

God Doesn't make anyone poor , he has destined riches for everyone, he has destined health. The question is, what are you doing to achieve success? No matter how much prophets pray for you, if you will not work. You'll have nothing to eat.
Bible says pple perish for lack of knowledge. Regarding health, wisdom has proferred tips for a healthy life style. No matter how much your pastor prays for you. If you are one with a habit of consuming excess sugar, you will most likely suffer diabetes....wisdom my man! Wisdom!!!