₦airaland Forum

This useless man that got CBN job by quota system and politics is just making pronouncement without any concrete action but giving APC zombies hope that is backed by nothing.
Since he assumed office as CBN governor he's yet to convene a MPC meeting and no single monetary policy has been initiated but he's banking on hope to reduce inflation.
He has politicized CBN and he's appointing APC members as directors in sallient departments in CBN while naira has fallen to 1400 under his watch but he's telling APC zombies that inflation will fall while doing nothing to stem the tide but only hoping.
God will make all of you suffer a miserable death including your evil supporters.

Paraman:
Nigeria spent over $10 billion importing refined crude last year, If the Dangote refinery can take care of Nigeria needs, are you telling me will still be dashing out over $10 billion dollars to foreign refiners?

In 2022, we spent about $21 billion importing oil

Please explain, I want to learn.

I will help him out to explain to you since you clearly want to learn.
Nigeria will not be saving anything close to $10bn even if Dangote does sell his products to marketers in naira.
For every barrel of crude oil Nigeria gives to Dangote to refine a price is being paid in FX i.e whether Nigeria gives it to dangote to refine and pay back in naira the alternive forgone is what could have been earned in FX if exported .
Now if Dangote sells to marketers in NGN and he repays NNPC in NGN it means Nigeria net FX revenue from crude oil sales will reduce as a result of production.
Where Nigeria will gaina little is because one barrel or crude oil is not one barrel of petrol hence we have to maximally turn all the constituents of crude oil to money and other constituents we can export to enable Dangote recover some FX to settle his loans but it's nothing close to your $10bn savings at all.

This one does not seem to understand the gravity of what he's requesting for.
For you to know level of chaos that will descend on Nigeria once gun is legalized, just imagine the madness inside Lagos traffic. Two people will brush themselves in traffic and instead of calling insurance will start fighting or even destroy their cars with wheel spanners.
What do you think will happen if one or both of them have guns.
Na pow pow pow straight.

elasticlala:
There is no sense in what he said.
How many people can become governors or ministers in Nigeria ? What is the population of Nigeria ? What is the probability that someone drawn from a million population can be a governor or a minister ?

If I have to become a governor or minister in a country before I can live a good life or say I have achieved something in life then, that is not a county..

It is because your mind is not working well and that's the only thing you can deduce from a myopic point of view.
He's making a point not from the literal meaning but from a logical perspective.
You cannot reach the pinnacle of your career abroad unless you are native or born there. As an immigrant, you cannot become CEO, ED,governor etc when you immigrate but you have that opportunity here as a Nigerian.

Abeg I need to go to twitter and see this for myself.
That comment on some guys coming every town hall day to shout bulaba and balabu really got me

naptu2:
Babajide Sanwo-Olu @jidesanwoolu

Well-done to the state government for renovating the stadium.
My own is why did the state government decide to build the stadium directly opposite the national stadium in surulere?
This stadium should have been built in epe,badagry or abulegba to further spread development within the state.
Imagine if Nigeria hosts the nations cup and we have the national stadium and teslim balogun hosting matches. The traffic and congestion in that axis will be mad, sighting of the stadium there was not thought through at all.

I swear this is the best match I have watched in this AFCON. Mauritania sef dey ball abeg.
It's not good to be using eye to underrate any team in Africa anymore.
Any of these two teams can beat super eagles.

NinjaMetahuman:
this ediot doesn't even know ad, ac, acn are the same party changing names after merger with other parties ov after rebranding, not a different party.

How old are you?

[i][/i]
Actually, you are the ignorant fool here. aD is not the same as AC or ACN. AD is the real Afenifere party and still in existence till today.
Tinubu decamped from AD with his structure to float AC when he was having issues with the party founders.

Christistruth03:
It is the same party
Tinubu never left his party since 1999
He only merged with others like Buhari to make his party more National

You are wrong, AD and AC which later became APC is not same party.
Actually AD is the real Afenifere party floated by Ganiyu Dawodu of blessed memory. They were the ones that provided Tinubu the platform to run as governor of Lagos. When Tinubu fell out with them he left and took his structure out of the party to form AC.
I think AD is even still in existence, so educate yourself AD and AC is not same party and yes Tinubu himself defected like any other Nigerian politician.

millionboi2:
you mean you spend 100k on fuel per month?

100k is even small on fuel monthly now. I spend over 150k on fuel monthly on my two cars.

ZKOSOSO:
Port Harcourt is not Lagos. Lagos is a tiny state with about 35million inhabitants.

Lagos state govt should make him pay 7.5% gas flaring tax.. specially.

Do you know what is called a free trade zone?
Dangote is operating from a free trade zone.Lagos or Nigerian territorial laws don't apply to him.

Dobodobo04:
Not entirely true.

If Dangote buys Nigeria’s crude at market rate, he refines the crude, sell to Nigerians at competitive rate in Naira, sell to international market also at competitive rate and hopefully make profit from both local and international market to pay off his debt and keep the refinery operating.

If he sells to the Nigerian market in Naira, which he should do by law, there would be less burden on forex.

Don’t forget that some of the crude derivatives have bigger demand overseas than in Nigeria, so he should be able to attract forex with ease in the overseas market.

Only way there could be a problem is if he has no money to buy crude.
As long as he buys his crude in Naira equivalent of a USD/barrel and sells to Nigeria in Naira , no issue.

Also, we avoid Dollar/Naira volatility. If Dangote buys let’s say 600,000 barrels from Nigeria a day from now for the whole year

600,000 x 366 x (78 Dollar/b *800 exc rate)=

Approx N15 trillion Naira stays in Nigeria. Which can be used to fund half of our budget a year.

Also, that’s N15 trillion naira staying in Nigeria. Imagine the multiplier effects on the economy!!

A lot of people just quote things online out of ignorance. Who told you Crude oil was sold to Dangote in Naira. I have seen the Guarantee for the crude oil sold to Dangote by Shell while you haven't and the Crude was denominated in USD which is the standard for Crude purchase worldwide and the sale would be repaid fully in 6 months upon sale of the by products.
How will Dangote pay for his Crude supply in USD if he sells in NGN that loses value daily. Also you mentioned that Dangote is obliged to sell in NGN by law and I laughed at your ignorance. A lot of you don't know what is called a free trade zone and you can Google it. A free trade zone is another country within a country, Dangote is operating from a FTZ and Nigerian laws do not apply to him.
The only way Dangote will sell to the Nigerian market is if NNPC specially give him a local consumption quota of crude and even that model as stated earlier means less FX earninf for Nigeria for her crude oil since FX revenue is an alternative forgone.

Dee60:
It may be the opposite. Crude for that refinery was imported. PMS price may be raised to N900 or more per litre to allow this refinery to make some profits. Otherwise, Dangote will export its products, which is not bad. It will boost Nigeria's dollar earnings a bit.

I have consistently informed anybody that cares to read on this forum that Dangote will not boost Nigeria's forex earnings and you are still making this nonsense submission.
PresentlyNigeria is exporting her crude oil to earn FX or adopting the NNPC model to swap crude for petrol. Either way crude and fx change hands.
Now if instead of using that crude to get FX you give Dangote to refine then the alternative forgone is FX that should have been earned selling the crude. If after Dangote refines and he exports then the crude returns to Nigeria for which he will repay shell and co that he sources the crude from.
Now any profit Dangote makes in the process will go into settling his enormous debt for the refinery or his escrow account offshore which is the model all the oil companies in Nigeria runs.
They all do not save any of their proceeds in Nigeria but with JP Morgan chase in US and you can't blame them because the oil market is internationally denominated in USD.
So please and please forget Dangote to come and solve your FX problems for you and look elsewhere.

maasoap:
Who else could it could be judging by looking at their supporters and final votes? And MAJORITY of the votes for LP were votes that were primarily meant for PDP

Well it's not mine and I won't support atiku or any other northerner after Buhari no matter what.
It's the turn of the south so let Tinubu continue instead.

Victoronah1:
entertainment is where money is. Unless you want to have a normal life. You don't necessarily need to act or shoe yourself all you need Is money lots of it. But since you don't want to learn no need to release information here. But to make money you have to spend money. If you gather people write a script and shoot it, then use 20k or 50k to make the video top trending eg, on YouTube, you will get more than 24millions views,since YouTube runs add to make money ranging from 1usd t 6 USD per ad view that massive. And runs on a total of 1million people. You're already rich. But of course no need to teach you like you said you don't want to know. Have a nice day my dear.

Please dm, I am willing to learn. Don't mind that slay queen bitch.
She thinks she has arrived living in Canadian snow and dying of loneliness while not having a dime in her account.

maasoap:
Many Obi supporters still believed that APC voters were the reason why Tinubu won 2023 election. What they didn't know was that their split votes for Obi instead of PDP/Atiku was the reason APC won with 8 million votes, down from 12 million votes in 2019.

And who told you the Obi supporters wanted Atiku/PDP to win in the first place. I don't know where you people got this believe that it's either Obi or Atiku in as much as it's anything but Tinubu.
I personally was satisfied with either Obi or Tinubu winning in as much as power returns to the south because the northerners don't have a clue about governance after Buharis bad outing.
So even though I voted Obi, Tinubus emergence is still a victory kind of for me.
But so far Tinubu is proving me wrong that he himself is clueless and overhyped with how he has rubbished the economy.

Kukutente23:
So are we always going to be informed any time the refinery gets a supply of crude?

Besides, how practicable is it for supply to take a whole month when production is supposed to be every blessed day.

If we go by the 650k capacity, the crude supplied will last just 10 days.

What happens to the refinery in the remaining 20 days before the next supply is completed?

You are the only one asking a very relevant question here.
I have been thinking about this 6m barrels thing as well. So we will wait for another 6 barrels or supply will continue non stop after this first tranche.

Harrisonwo:
Anybody who protest should be sh*t. You can't start protesting against a govt that's less than one year old. We should give them time to turn things around

Look at this foolish Zombie. You can't start protesting against a government less than a year. But in less than a year the government can break all records know to man about misgovernance.
The government can allocate billions to itself for SUVs, rice palliatives, renovations and jumbo trip abroad while causing hyperinflation in the process. The government can tell the Citizens to bear pain of subsidy removal and fx floating while enjoying the largesse of billions of taxpayers money in less than a year abi.
May you and your fellow zombies never know peace.

Please is this how this useless man intend to rule Nigeria for the next four years? Sharing money and rice to politicians with virtually no clue on how the country will be better?
The prices of goods and services have gone through the roof and all he's doing is to share rice and SUVs to politicians.
One of his zombies here was telling me the other day that I don't know about governance but is this what governance is? Sharing money and rice to politicians is governance while the masses are suffering from hyperinflation of goods and services.
Please when are we going to revolt all this nonsense going on in this country, these people are already killing our dreams in broad daylight.

This ministry is a cashcow and should be scrapped. I still don't understand how a ministry will be created for the sole purpose of sharing money.
It's bound to be abused and looted.

candygist:
I Wass agreeing with you not untill I saw you mention Tinubu. Like it's today that Nigeria got spoiled.

He's making a very valid point, stop looking at everything from a tribal lens.
I agree with you that Nigeria dos not start getting bad under Tinubu but it is an undeniable fact that Tinubu has made it worse in all indices of governance.
You cannot deny a fact that is staring at you in the face. All you need do is ask yourself how much was a bag of rice last year and how much is it now.

PDPdestroyer:
You're free to relocate to Ghana. My success has never been dependent on government.... as you're complaining, there are many out there making it big without government support, no go do something useful with your life, dey wait for government handout

Do you have comprehension problem? Where in his write up did you see him asking government for handouts?
He clearly stated that he is working but hos salary is not enough anymore due to the hyperinflation going on and it's the same for almost all Nigerians making money legitimately.
You somehow found a way to change it to his fault as though he's not doing anything tangible with his life but waiting for the government.

Pecoleee345:
The problem is we focus too much on the presidency forgetting the one we should hold is the governor.

We should go Abuja to face tinubu while leaving the governors abi
I don't know if this governors are using jazz or we just have alot of educated illiterate in Nigeria.


Your governor is suppose to create job and better the likelihood of where you residing that why he get allocation every month.


Better start asking your governor what he is doing with your money and leave the presidency alone.

You are deviating from the real issues here my friend and trying to divert blame on your principal to the states.
While not exonerating the states for their incompetence, the very idea of sharing money every month to states is even wrong in a federation. This is because the states are also meant to stand on their own and generate their wealth.
To the issue you raised, the federal government is to blame for the massive inflation going on in Nigeria today. The states do not control the economy and they don't dictate the fiscal and monetary policies affecting the economy. Specifically, Tinubu's policy of floating the naira and fuel subsidy removal is what has caused the massive inflation going on in Nigeria today so why are you blaming the states for that?

postbox:
SOURCE:https://brandspurng.com/2024/01/02/nigeria-aims-to-raise-oil-condensates-output-to-2-6-mln-bpd-by-2026/

Another news on we shall, we will. This man is still campaigning after an election he claimed he won. He better gets to work and deliver on his promises.
You cannot be buying SUVs for your wives and politicians and be telling the people to bear pain of your ill thought out policies.
I have been trying to point out just one things Tinubu has done since he assumed office but unable to point at one, all he has done is to turn the economy upside down and still campaigning after election.
Just today I read that fuel will soon be going to #1200 and I nearly fainted, his zombies will soon come and tell you to bear some pain while politicians are feeding fat. What a useless country with a useless government.

Indifferent12:
Will dangote sell to Nigeria marketers in Naira or dollar?
Giving that the refinery is in a free trade zone

You know I have been laughing so hard when I see some ignorant people here saying Dangote refinery will solve Nigerian FX problem and reduce petrol price. A lot of people wallow in ignorance and self deceit to make themselves happy in Nigeria.
The only benefit Nigeria will get from Dangote refinery production is the reduction of freight cost which will not amount to NGN30 per litre.
I have been opportuned to see the guarantees and forward contracts backing this crude oil sales to Dangote refinery and the guarantees were indeed quoted in USD.
What this means is that Dangote will have to pay for his major source of raw material (Crude Oil) in USD, Dangote equally will sell to Nigerian major supplier from his free zone in USD and Nigeria's FX problem and quagmire will remain.
Aside the problem I stated with supply in USD, Dangote has debts to repay back to lenders in USD and the running operations including salaries of the refineries are in USD so why will he earn money from his products in another currency?
There's a reason Dangote deliberately does not want to refine pms yet and it's because he knows the government is still subsidizing petrol and he does not want issues for his refineries yet.
This year will be interesting to see how APC's supporters hope on Dangote solving the country's problem will be dashed.

favor914:
The truth is a very bitter pill to swallow, you lazy ungrateful things should keep waiting for a messiah.

The President in Abuja, 1 man should curb insecurity for 200 million people in a democratic system of Federal, States, & Local Governments where we have the opposition deliberately causing insecurity for political gains ?

Read what you wrote and ask yourself if you are not stupid. Tinubu swore an oath to protect the lives and properties of Nigerians as the C in C. He will be held accountable if that does not happen even the remotest of village in Nigeria.
The state governors or local government chairmen you mentioned do not have powers to control the police or armed forces but Tinubu does because he's the C in C.
So yes, Tinubu should be held accountable if security fails anywhere in Nigeria.
A lot of you don't even understand what you quote and are useless in life. That's why you come online to spit rubbish just because you want to defend your useless masters.

naptu2:

https://www.youtube.com/watch?v=PqdpOFfpnjs?si=Qit8XyuHxkdbQc5j

Governor Babajide Sanwo-Olu will today commission projects built by the chief of staff to the President, Femi Gbajabiamila. The projects include:

1) Femi Gbajabiamila Conference Centre at the Lagos State University, Ojo. (11am)

2) Dualised Babs Animashaun Road and Census Bridge, Surulere. (1pm)

3) Sam Shonibare Community Development Centre, Surulere. (1.30 pm)

4) Femi Gbajabiamila General Hospital, Iyun Road, Surulere. (2 pm)


The Speaker of the House of Representatives, Right Honourable Tajudeen Abbas, will tomorrow commission projects built by Femi Gabajbiamila and they include:

1) Femi Gbajabiamila Hall of Residence, University of Lagos, Akoka. (10 am).

2) National Open University of Nigeria (NOUN), Surulere Campus, Clegg Street (by fire station), Ojuelegba, Surulere. (Noon)

3) Bode Thomas Police Station, Census Area, Surulere. (12:30)

4) Femi Gbajabiamila Mini Stadium, Orile, Coker Aguda LCDA, Surulere. (1 pm)

5) Reconstructed Randle Avenue, Surulere. (1:30 pm)



Pictures 1-3) Femi Gbajabiamila Conference Centre at the Lagos State University, Ojo.

Picture 4) Dualised Babs Animashaun Road and Census Bridge, Surulere.

Ride on our next Lagos state Governor.

Ahmed0336:
I don't know why I have a feeling that Femi might succeed Sanwo Olu come 2027

It's not a feeling, it's cast in stone except if an act of God happens. Can't you see that Hamzat is so jittery and uncomfortable once he sights Gbaja.

TopBanter:
The country began "sinking" today abi? If I ask you to make suggestions on how to stop the sinking' in the seven months Tinubu has been President, since you are more intelligent and expert than the 'slowpoke' Tinubu and his technocrats, can you you do so here and now immediately without excuses?

Please do so let us all critique your expert and all-conquering suggestions so we can collectively mock Tinubu a failure even though I suspect it is you who will be mocked for 'simplistic ignorance' and lack of relevant knowledge.

Why are you passing that burden to him pls? It is Tinubu that contested election to be president and not him , so why should he be the one to fix Nigeria?
Some.of you are so used to suffering and bad leadership that you defend anything you see.
Even though I am not the president but in my own small leadership position I can list at least five things I will do differently that your messiah has not done. Useless slaves always defending their slave masters.

tunjijones:
U people should rest. So he shd resign because Peter obi did not win.

How come you pple accepted the result of Abia. State? Why didn't you reject that too.

See this one talking out of ignorance. Are you aware that even the Abia state election you mentioned is still in court and the result was contested?
There's no single election the fraud yakubu conducted that was not contested. You cannot promise one thing prior to election and do something else later your credibility will be tarnished.

Godszilla:
Fyi

Are you not aware that a lot of people here are daft and ignorant? They just come online to quote what they don't know out of their ignorance.
Stupid people.

Newsmic:

https://www.youtube.com/watch?v=Amyn1MQC7Vw



https://gazettengr.com/argentine-president-begins-flying-commercial-to-lead-example-in-countrys-cost-cutting-measures/

Freestussng,pakute and their fellow zombies should come and see how leadership is being done by example. In Nigeria, the drug baron in aso rock is flying private jets anyhow throughout the globe, buying SUVs for his wife and concubines, building mansion for VP with 15Bn while telling the citizens to enjoy pains.
May all of you supporting this useless government rot in hell.