Nice

aribisala0:
Anthony Blinken was in Lagos and Abuja this week.
We don't know and will probably never know why he came.
It is reasonable to believe that he came to push American Interest.
What is American Interest? More on that later

He was asked a question. Why is it that the scale of help available to Ukraine is no where near what Nigeria has received.
He was asked ,we have removed subsidy and floated the Naira ,where is the inflow of investment?
In response he was chopping mouth. He had no tangible response
The issue of corruption was all he could talk about We should stop being corrupt and our solders should respect human rights . No weapons to fight bandits
He supports the stance TInubu has taken along with ECOWAS against Niger
All during the military era,those all enough will remember, all they preached was democracy.

We have been democratic for 25 years where is the American investment?

My belief is the USA wants a Nigeria that is weak enough to allow them to have a military base in Nigeria just like they have in Niger and for that reason they are not going to help us.

Let us look at Egypt. Egypt held elections that produced Islamic brotherhood. The US did not like that outcome and when Sisi overthrew and brought in the military they were cool .
You never see them preaching to Egypt about democracy ,Human rights and corruption in the same way as Nigeria. Is Egypt less corrupt am?
Egypt is getting massive investment left and right in Power and is not fully aligned with the US as we are.
We need to wake up. The US is interested in Nigeria supporting its foreign policy in Ukraine and Israel and in maintaining military presence in the West African region now that Wagner is emerging but it prefers a weak Nigeria that is prostate and begging for military bases from the US

I agree with you, the west need Nigeria that’s weak on different fronts because they benefit on the long run. This is not limited to military base alone, on other areas like: our markets that remains dumping ground for goods and services, our currency that keeps depreciating everyday, our debt that keeps growing on a daily basis.

Devaluation / weak currency leads to high inflationary economy. High inflationary economy leads to high interest rates/ high cost of funds for businesses and the economy. All these factors leads to a de-industrialized economy. A de-industrialized economy makes our economy to be a continuous dumping ground for goods and services from America and the West in it’s entirety.

Can anybody explain (not speculate) why Naira continues on this downward trajectory when Nigeria continue to run surplus balance of payments. Why is it still on this downward trajectory when about 50% of our foreign exchange demand for petroleum products is going to be eliminated due to Dangote Refinery production.

Nigeria needs to get its acts together in all ramifications, not only for Nigerians alone but for the entire African continent. A prosperous Nigeria will set the tone of what’s possible for other African nations to follow suit. We cannot continue to be a puppet of the west without tangible progress to show for it.

Beware of speculators… they want to profit at your expense

BabsO2:


Black rock just met with the CBN governor this week. Hope they got positive insights. Also don't forget the ratings agencies upgraded Nigeria last year.

I don’t know if this is good or bad for Nigerian economy. When hot money comes into Nigeria, Naira remains unchanged. When hot money leaves, it takes the whole market with it, with huge devaluation and high inflation in the process. Similar situation happened when JP Morgan pulled Nigeria out of their Emerging Market Bond Index in 2015, forcing a lot of hot money to pull out of Nigeria crippling our stock market in the process.

How do we ensure hot money does not destroy our economy during difficult times? I hope CBN and other regulatory agencies are paying attention.

Nice

saddler:
Are you celebrating gas flaring now or?

This is not gas flaring, but production flaring. The purpose of this flaring is to purge out dirty production from cleaning of the installed piping. Startup of any Facilities including refineries, gas plants, petrochemical complex and others typically involves Nitrogen, natural gas pipe and equipment cleaning.

The other aspect is to purge out off spec products in the production line. By introducing crude oil into the units bit by bit to meet commissioning and performance guarantees, there will be off spec products that will be flared…

This flaring is totally different from your conventional natural gas flaring from upstream facilities.

Willie2015:


D kind village people we dey ontop...
Dat Flour Mill matter...
D thing pass my power..

Who, what’s keeping Flour Mill from flying? Great fundamentals, strong cash flow, strong balance sheet, credit ratings of A-/A. Why is it still crawling?
Cash balance of 214 billion as of Q2 including their recent debt of 85 billion @12%. This cash balance alone translates into 52 naira per share vs. current share price of 33.10 naira.

I need help guys, what I’m I missing?

The problem with dollar Naira is a bit dicey for government. The government is in a very precarious position, not sure what they want to do.
They want to have high naira conversion and low inflation at the same time… not possible. You have to pick one.

On one hand, they want to convert petrol dollars at the highest level to enable payment of minimum wages. Hence, the reason why they have to peg cargo rate at $1 to 900 naira when black market rate was already 850 naira, and getting stronger. This decision thwarted/ slowed government efforts on revaluation, and gave speculators opportunity to widen the band to around $1 to 1200.

Impact of this is continuous spiral inflation, high interest rate and unstable economic conditions.

Government needs to get its act together, articulate their economic objectives, short and long term. Stable economy requires revalued and stable naira, which in turn stabilizes and reduce inflation. Stable economy leads to attraction of foreign direct investments, portfolios and brick and mortar investments.

Let’s see how this is going to play out

Great

Very nice

Thanks for sharing

Interesting

Nice

This is just a marketing strategy. Guessing they will be coming to market for IPO very soon.

Curious to know the interest rate for their commercial paper.

This is a welcome development.

lolaluv1:


What did courteville pay for?

Is this payment for their buyout offer?
I received similar credit alert, not sure what it was for.

Interesting

Very nice

KnowAll:
If we redominate the Naira back to one to one and develued by 15 we would be where Ghana is today.

But if we leave as it is and it devalues by 15 times that would push it to 15,000 to 1.

So redomination is better then devalue afterwards.

Can you please highlight the economic benefits of redenomination of naira?

Agreed, the zeroes will go away. But this idea will only give false sense of Naira strength. Overall, the idea will create higher inflation rate, devaluation, more economic pain.

The best way to solve this problem is to review and improve all the factors that affect economic production including; power, road infrastructure, taxes, monetary policies (interest rates), fiscal policies and others. This is to encourage production economy and general brick & mortar investments. Harnessing this fundamental change is the only way to save the Naira.

braine:
Sounds good.

But what are the benefits of a Floating Liquefied Natural Gas (FLNG) ?

A lot of Nigerian offshore gas are been flared. With Floating LNG system, it gives Nigeria the opportunity to liquify gas directly offshore (on the sea) without having to spend more money to compress and pipe the gas back to land for further liquefaction. This option reduces overall investment for Nigeria LNG projects. It allows Nigeria to further monetize its offshore gas, rather than flaring to the atmosphere.

Kudos to the government for this

Very nice

Can you please balance the write up. Every religion has its pros and cons. Can you share more light on the negatives around Islam.

Vote Asiwaju Bola Ahmed Tinubu.

This is coming from a man who has been contesting every 4 years since 1990. If that’s not desperation for power, I don’t know other names to call it

Very inspiring speech, thanks for sharing.

So, the new owners have to pay only 50 billion naira to take control of the company. This is wrong in all ramifications. Old shareholders get screwed, while the new northern shareholders are smiling to the bank.

Sometimes you think you’re bad mouthing a personality, but all you’re doing is making them more popular. There is no bad marketing.

This is a great idea, worthy of commendation. This idea should be replicated all over Nigeria. State and national history needs to be taught in all our educational institutions. By teaching history, it helps build patriotic citizens… which Nigeria is currently yearning for.

The more we fan this emblem of religion/ ethnic governance, the higher the dictates of incompetency, nepotism, profligacy and overall decimation of Nigeria. Vote for Character and competency. Shun religious, ethnic rhetorics and division.

Interesting

Guessing a lot of people commenting did not read this article fully. The guy doesn’t have a primary school certificate because he did common entrance at an early stage to get into secondary school. The man is a trained lawyer. A graduate of Ahmadu Bello Zaria University. In this case, what’s the relevancy of primary school certificate?