Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,968,399 members, 7,205,593 topics. Date: Wednesday, 07 December 2022 at 11:50 PM

Ellabooz's Posts

Nairaland Forum / Ellabooz's Profile / Ellabooz's Posts

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (of 14 pages)

Celebrities / Re: Bovi & Basketmouth's Wives Step Out In Style (photo) by ellabooz(f): 3:18pm On Feb 22, 2016
Hmmmm, are they funny aswell?
Business / Re: Ifeanyi Ubah: 'I Can Bring The US-Dollar To N200 In One Month' by ellabooz(f): 2:53pm On Feb 22, 2016
Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

Choi ,so you knew all these and you kept quiet when they were calling for GEJ ' s head for this issue in last administration.
You shall be dealt with thesame measure used for Jonathan, no excuses.
Your narration is here by declared absurd and useless.
Thanks

But you try shaaaa

1 Like

Politics / Re: You're A Stupid Buffon - Ghana's President Attacks Obasanjo Over GEJ by ellabooz(f): 12:21pm On Feb 20, 2016
OBJ again?
Celebrities / Re: Caroline Danjuma, Returns To Nollywood Amid Rumours Of Her Crashed Marriage by ellabooz(f): 11:41am On Feb 20, 2016
pulsa:

meaning take care of your self
and please be safe.
Off my mention lad
Celebrities / Re: Caroline Danjuma, Returns To Nollywood Amid Rumours Of Her Crashed Marriage by ellabooz(f): 11:16am On Feb 20, 2016
pulsa:

don't let the skin heads get you
Russia of all places?.

Meaning?
Celebrities / Re: Caroline Danjuma, Returns To Nollywood Amid Rumours Of Her Crashed Marriage by ellabooz(f): 9:49am On Feb 20, 2016
Aunty Caro your man is simple tired of your kpekus and you have no other appealing features.

Simple put, Beauty alone can not keep marriage .

4 Likes

Celebrities / Re: Security Guard At P'square House Injured Today(photos) by ellabooz(f): 9:26pm On Feb 19, 2016
That's bad
Crime / Re: Fulani Herdsmen Kill Six In Benue by ellabooz(f): 10:23pm On Feb 14, 2016
Omenka self acclaimed ngbada come and see your master killing your people as slaves. And you are hiding

5 Likes

NYSC / Re: Corpers Prepare Food For IDPs At Malkori Camp, Adamawa (Photos) by ellabooz(f): 3:16pm On Feb 14, 2016
Uwa
Celebrities / Re: A Yabatech Graduate "Gbagaun" Reply To Alibaba Text Message. by ellabooz(f): 8:49am On Feb 14, 2016
My brother from the west keep mocking dilector Kanu as if they have got it all. Adeniji will also be among them.

Hypocrite is a disease suffered mostly by which particular region in Nigeria?

3 Likes

NYSC / Re: Photos Of Corpers Preparing Food For Idps In Adamawa by ellabooz(f): 8:46am On Feb 14, 2016
Hmmmmm, who sent them. These blood thirsty animals no send you oh at all. If like prepare most delicious for them when the time comes ,your heads will not escape their sword .
Romance / Re: List Of Romantic Songs To Listen Today by ellabooz(f): 7:46am On Feb 14, 2016
Nice one
Crime / Re: Baby Mama Kills Her Twins In Jos (Extremely Graphic Photos.) by ellabooz(f): 10:53pm On Feb 12, 2016
That girl should be arrested

1 Like 1 Share

Politics / Re: EFCC Interrogates Dodo On Halliburton Scandal by ellabooz(f): 8:32pm On Feb 12, 2016
Another scam on the line, why promise what you can't afford? Why start a fight you can't finish?
Politics / Re: US Resumes Training Of Nigerian Troops For Anti-terror War by ellabooz(f): 6:53pm On Feb 12, 2016
Good for them
Crime / Re: Photos: Man Crashes His Car Into Pole During Hot Police Chase This Morning by ellabooz(f): 9:21am On Feb 09, 2016
Imagine such a big shock/force without an airbag activation, @nighiyundai I dey hail oh.

Nigeria Hyundai needs to be probed.
If you think so click LIKE otherwise SHARE

22 Likes

Politics / Re: Court Renews Arrest Warrant On Tompolo, Orders Security Agencies To Produce Him by ellabooz(f): 5:07pm On Feb 08, 2016
It's going to be movie action. Watching in 7D from this side
Food / Re: See The Bush Rat That Was Killed At My Workplace Today (Photos) by ellabooz(f): 6:31pm On Feb 01, 2016
Uwa
Crime / Re: Two UNN Students Stole Laptops And Were Caught (Photos) by ellabooz(f): 2:27pm On Jan 29, 2016
Chai.........
Religion / Re: I Dreamed And Saw Where Buhari Was Leading Prayers In Church. by ellabooz(f): 8:25pm On Jan 28, 2016
Billygee2u:
Dear honest and sincere people of nairaland, I want you to explain the meaning of seeing Buhari in my dream Where he was in a Church before the congregation praying with the name of God and not Allah.
Does it mean that Buhari will in future become a Christian ?
Secondly,does it mean that Buhari is mockingChristians?
thirdly,does it mean that Buhari is achameleon/hypocrite?
Lastly,does it mean that Buhari really is not what people believe him (positive/negative)to be?
This is exactly a month I had this dream but decided to make it known to everyone today ,based on events that have taken place in Nigeria since I had the dream.
For everyone's information I am not in Africa,
I have no party,
I am not a friend of politicians and I only want good governance in Nigeria and Africa as andwhole.
So ,kindly do not give your explanation of the dream based on sentiments.
Thanks as you contribute.


Busted! Stop lying , you are in Nigeria . Infact you are very close to buhari and you see him almost every day. Your dream says it all. You don't dream about what you do not see,feel and connected to directly or indirectly.
Religion / Re: I Dreamed And Saw Where Buhari Was Leading Prayers In Church. by ellabooz(f): 8:22pm On Jan 28, 2016
Billygee2u:
Dear honest and sincere people of nairaland, I want you to explain the meaning of seeing Buhari in my dream Where he was in a Church before the congregation praying with the name of God and not Allah.
Does it mean that Buhari will in future become a Christian ?
Secondly,does it mean that Buhari is mockingChristians?
thirdly,does it mean that Buhari is achameleon/hypocrite?
Lastly,does it mean that Buhari really is not what people believe him (positive/negative)to be?
This is exactly a month I had this dream but decided to make it known to everyone today ,based on events that have taken place in Nigeria since I had the dream.
For everyone's information I am not in Africa,
I have no party,
I am not a friend of politicians and I only want good governance in Nigeria and Africa as andwhole.
So ,kindly do not give your explanation of the dream based on sentiments.
Thanks as you contribute.

Busted! Stop lying , you are in Nigeria . Infact you are very close to buhari and you see him almost every day. your dream says it all. You don't dream about what is not connected to you directly on indirectly.
Politics / Re: Biafra: Ex-militants Give FG 31-day Ultimatum To Release Kanu by ellabooz(f): 7:16pm On Jan 28, 2016
[quote author=Billygee2u post=42402006][/quote]

I see that the only thing you do is to mention critic comments against the present govt. What ever your iintentions are , be rest assured that you are on a wrong move . Criticism is one of the benefits of democracy.

Paid agent,continue
Crime / Re: Little Boy's Eyes Plucked Out In Zaria (graphic Photo) by ellabooz(f): 11:21am On Jan 27, 2016
This poor boy must have cried out his voice. He has no strength to cry again

1 Like

Politics / Re: Halliburton Scandal: Buhari May Go After IBB, Abdulsalami, Jubril Aminu by ellabooz(f): 6:24pm On Jan 26, 2016
For where, In Nigeria or Niger? Leave trash for lawma abeg.

17 Likes

Business / Re: Nigeria Loses 50% Cargoes To Cotonou Port by ellabooz(f): 5:17pm On Jan 26, 2016
Pray for Nigeria.

3 Likes

Politics / Re: Lamorde’s ‘disappearance’ Stalls N1trn Probe – Senate by ellabooz(f): 11:49pm On Jan 25, 2016
Even if Mr president is tried today, he will be found wanting.

Late Abacha never stole but GEJ deposited millions of dollars in his Swiss account to implicate him.
Nigeria is a big joke

By end of this year ,a dollar will sell for #500.
By end of 2018,a dollar sell for #4000.

Mark my words.
Politics / Re: Nigerians Blast Buratai On Twitter,Say He Shld Be Tried 4 $2.1bn Arms Deal(Pics by ellabooz(f): 7:24pm On Jan 25, 2016
Article like this hardly grace front page, why? Partisan forum,partisan mods.

1 Like

Politics / Re: Buhari, Your Change Is Causing Despondency – Okogie by ellabooz(f): 1:04pm On Jan 24, 2016
G1gbolahan:
Very wrong insinuation. I understand the Cardinal's worries but this statement goes too far and loses sense. How else can the war against corruption be fought to achieve better than this. Accused people are in court as far as I know and that some information sneak into media is only testament to good journalism which the President encouraged. So as far as the anti-corruption war is concerned, I know for sure that this administration is on course. My only problem with the war is that we are still too slow because of the courts, we should be moving faster as far as I am concerned, and the fact that the Cardinal failed to acknowledge the good in this war which is for all Nigerians rubbishes the statement for me.

There much better ways to fight corruption. Take a look at policies that will nib corruption in the bud. Policies like BVN. With the introduction of BVN alone, Nigeria has been able to recover abandoned stolen funds (billions of naira) and forestall future fraud.
Politics / Re: Biafra: Ex-militants Give FG 31-day Ultimatum To Release Kanu by ellabooz(f): 8:06am On Jan 24, 2016
The storm is gathering and with time the centre can no longer hold.
Just a strike, Nigeria has lost close to a billion dollars and so some dullards will be like , "Niger delta militants are no threat to this country ,I will destroy them in weeks" Be ready to bring our economy down to that of Zimbabwe in days.

If you think that parasitic NE is equivalent to our economy hub,rethink. If half of what happened in NE should occur in SS, we are doomed for real.

This is no time to threaten any region, we have had enough blood shed in this country.
Deplomacy always win over brutal force.

161 Likes 15 Shares

Politics / Re: Buhari, Your Change Is Causing Despondency – Okogie by ellabooz(f): 7:39am On Jan 24, 2016
[/b] Okogie also noted that a lot of Nigerians are beginning to feel that Buhari is fast transforming this nation into a police state where Mr. President, the EFCC and DSS rule the day. [b] And some baboons are jubilating over the bolded calling it fight against corruption.
Who fights corruption this way in this 21 century?

138 Likes 10 Shares

Celebrities / Re: Teebillz Trying To Create Olamide/Don Jazzy War Again? (Snapshot) by ellabooz(f): 7:33am On Jan 24, 2016
Olamide my guy but with don jazzy in the picture, he is a rat with rasa fever. No comparison atall.
Jazzy is done with the street while Olamide is still on the street so they are on different lane.

15 Likes 1 Share

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (of 14 pages)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 210
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.