₦airaland Forum

CodeTemplar:
devaluation contributed in no small measure.

It has beaten devaluation already. Talk another thing.

OredoPikin2:
What is the worth in dollar?

If I kept $1500 in my account before tinubu govt which was around 700k then
From tinubu presidency, that money became 2m plus without doing anything.
I suddenly became a millionaire in naira over night 🤣🤣
Please stop all these propaganda
No magic happened, naira just lost value.
Simple as ABC

The worth in dollar also beats May 2023

Afrobasic:
Why not? When you devalue the currency more companies become trillion naira companies.

This is all semantics by the way. Just like saying Zimbabwean companies are septilion Zimbabwean dollar companies.

You can only fool the foolish.

In May 2023, approximately 12 companies on the Nigerian Exchange (NGX) had a market capitalization exceeding ₦460 billion ($1Billion)

As of March 2026, there are 21 companies on the Nigerian Exchange (NGX) with a market capitalization exceeding ₦1.4 trillion ($1 Billion).

Make of this what you will.

jevraj:
If we have our own crude and refineries, how does the Isreal_Iran war affects our petroleum prices

Oil is priced internationally except you subsidize it

IRAQI OIL PRODUCTION FROM SOUTHERN OILFIELDS FALLS TO 1.3 MILLION BPD FROM AROUND 4.3 MILLION BPD - THREE SOURCES SAY

Oil prices likely to begin above $96 per barrel (from $93 on Friday ) in a few hours.

For anyone interested:

Summary of oil Production Shares in Nigeria (Estimated March 2026)

Indigenous/Independent
~50%
Onshore, Shallow Water (JV Assets)

IOCs (Shell, Chevron, etc.)
~30% - 35%
Deep-water (offshore), Gas

NNPC Direct (NEPL)
~15% - 20%
Diverse Onshore/Offshore portfolio

Kuwait officially confirms it has cut oil production today.

Prior to the war, Kuwait was producing nearly 2.8 MILLION barrels of oil per day.

The dollar is strengthening and oil prices are now at $84 per barrel.

unite4real:
I am sure Bitcoin is aware of the conflict.
However it is currently trading below today's high of $68.1

Waiting to see Brent crude at $200 is not going to happen

Brent is $81 per barrel as at early Monday trading (12a.m). We’ll see how long it maintains such a high price.

Update: Now $79 and going down.

unite4real:
I am sure Bitcoin is aware of the conflict.
However it is currently trading below today's high of $68.1

Waiting to see Brent crude at $200 is not going to happen

We’ll verify what happens to oil in the next 6 hours

“Ship insurers are cancelling war risk policies and are expected to raise premiums by up to 50% from Monday”.

Hmm. Global trade may get a lot more expensive overnight which could raise the cost of a lot of goods.

Mpeace:
What is the difference between what they are doing and what Tinubu is doing to opposition. Is Tinubu not having peace?

Ahhh. I have done nothing to opposition oo.

“ Khamenei is dead. Good.

But I have family in Iran. My dad is there right now. And I'm not celebrating yet. Here's why.

Iran built the most layered contingency plan on Earth for this exact moment. Four levels of succession for every key position. Pre-authorized military strikes. Regional commanders who don't need orders from Tehran to act.

As you read this, there is already a new Supreme Leader. We just don't know who.

This isn't Maduro. The government didn't get overthrown. The system absorbed the hit. That's what it was designed to do.

Every credible intel assessment says the same thing: a post-Khamenei Iran is more likely to get harder, not softer. More IRGC. More dangerous. Potentially worse for the Iranian people than Khamenei himself.

Don't breathe yet. There's a long way to go.“

- Iman Jalali

IRAN has struck an oil tanker in the Strait of Hormuz, casualties reported

zendi:
Well, let's hope we don't hear in the coming hours the voice of a brand new supreme leader calling on the revolutionary soldiers to defend the revolution and fight on to the end.

If that happens, then the war is only biginning, until American and Israeli boots go in to phisically take over and install a moderate government friendly to Trump and officially recognising the Nation of Israel.

In this latter case, oil price will surge from Monday. As we speak, Iran has already closed the strategic Hormuz Strait.

But oil bull will be short lived as the tsunami of Venezuelan oil is around the corner under the management of American energy companies who know how to overproduce..

I saw somewhere that his son has taken over.

WAFCON postponed?

megawealth01:
Jagaban for a reason

This Gross 50 Billion USD beats the foreign debt of 48 Billion USD for the first time since probably 2019.

awesomeJ:
Reserves at 13 year high of $50.4bn as of 16th February

Even NGX in pure dollar terms (without considering the slight dollar inflation) is already over 13 year high and beats the 2013 record of 84 Billion USD (which was the best year for both the Yar Adua and Jonathan era).

emmanuelewumi:
Leave the general market alone and talk about the stocks in your own portfolio if they beat currency devaluation

You are right. I checked for MTN and I got this compared to their historical highs in 2022 (since listing in 2019).

“Before the 2026 surge, MTN's previous dollar "ceiling" was roughly $9.8 Billion in 2022. By crossing the $11 Billion mark today, MTN has officially surpassed its previous records, making it one of the few Nigerian companies to achieve a double-digit billion-dollar valuation alongside Dangote Cement.”

handsomebolanle:
FYi

Use Gemini preferably not ChatGPT or Grok. In 2013, the NGX market cap was around 13.3 trillion naira while the exchange rate was 155 to the dollar.
If we beat 87 Billion USD now we would likely have the highest market cap since the financial crisis in 2007.

Edit: Using Gemini now, I think I even understated our 2026 performance compared to 2013.

emmanuelewumi:
Really?

What was the market capitalization in USD in 2013

87 Billion USD

NGX market cap now approaching 84 Billion USD. Highest since 2013.

SonofElElyonRet:
When did government revert to starting and running businesses? I imagine it's a PPP. Dig deeper to know the private partner

I don’t mind Government running businesses when it comes to mining, agriculture, and construction (to a lesser extent)

“The NGX recorded a growth of 51.20% compared to 37% in 2024.
The matket capital grew to N99trillion.

When Dangote Refinery Limited & NNPCL list on the market we should see a massive growth by the end of 2026”.

Copied.

vaxx:
No long capping you ask for the Link, I provided it , I even ensure it is neutral. So why the fussed.


Go thru the web links to get yourself informed,if you are interested to know . Just don't form a beer parlour opinion. Shekenah.

I went through the link and it just says Ghana played a prominent role without providing details. I just provided you details on what role Ghana played which you can cross check across links.

vaxx:
To be neutral. I will not quote or give links coming from Ghana media house.


Just visit DW Africa websites page or verified from their Facebook handle

Ghana’s Sahel envoy only supported in terms of receiving the aircraft from Burkinafaso and logistics. The mediation itself for the release of the soilders had nothing to do with Ghana. They stepped into the mediation to provide logistics afterwards.

Ghana is involved because they stepped into the mediation afterwards to accept the plane because it would have been easier going to Ghana as the nearest ECOWAS state with an airforce base than going to Mali or going back to Nigeria.

Ghana is ECOWAS envoy to the Sahel but Ghana wouldn’t have been able to resolve this issue. It had to be Nigeria herself. This is why there is no record of any ECOWAS or Ghanaian diplomat involved in the negotiation for the release of the soilders but Nigerian foreign minister.

vaxx:
Ghana 🇬🇭 has secured the release of the eleven (11) 🇳🇬 Nigerian airforce crew who mistakenly landed in Burkina Faso 🇧🇫 two (2) weeks ago and were detained there.

🇬🇭 Ghana helped in mediation by sending Lt Col Rtd Larry Gbevlo-Lartey, Ghana's Special Envoy, to the Alliance of Sahelian States for the fantastic job in securing their release.

Can you give me the link that shows where Ghana did this?

ositadima1:
If you want to recognize the truth, you need to look beyond oversimplified statistics. Do you know that currency depreciation does not affect exports and imports equally, even within the same year? Imports react almost immediately through price shocks and demand destruction, while exports respond much more slowly.

There are two broad ways to record a trade surplus. The first is a strong-country surplus, driven by high productivity, competitive manufacturing, rising exports, and stable imports of capital goods. The second is a weak-country surplus, driven by currency collapse, import compression, falling consumption, and declining capital-goods imports.

These are, of course, extremes, but the point stands: don’t let numbers confuse you.

Okay use numbers and give me the imports of the first 6 months of 2023 and that of 2025 in both dollars and naira. Use 500/$ for H1 2023 and 1550/$ for H1 2025.
I did the calculation and the difference is just $3 Billion but the exports increased tremendously despite lower crude oil prices in H1 2025.

Imports for H1 2023 = 11.286 trillion naira = 22.57 Billion USD

Imports for H1 2025 = 30.706 trillion naira = 19.81 Billion USD.

Agbalowomeri:
In economic terms what does balance of payment mean, whether trade surplus or deficit? Simply means the economy is shifting the narratives. You are comparing export versus import for THE SAME YEAR. Same conditions apply, whether currency or inflation.

Is Dangote Refinery not included in Nigeria's GDP? I think it would be misleading to just interpret everything from government performance perspectives.

I tire oo. I didn’t even mention Government in my initial post.

ositadima1:
No, this is still misleading and superficial. It’s like saying Nigeria just recorded the highest average height, when in reality many short people were excluded from the measurement for some reason. This kind of summary statistic will lead you astray.

You can clearly see that export revenues almost doubled from 2024. You know why: the floating of the naira. In fact, 2025 actually saw a drop in export revenues, which is not a good sign.

On the import side, similar reasoning applies, but with a twist. The Dangote Refinery played a major role here. refined oil related imports were the largest import item, and imports were expected to fall.

The Dangote Refinery operates independently of the government, so this cannot be counted as a direct result of government policy.

There is more to unpack, but I won’t go into that here.

The 2025 data is for just nine months. Also there isn’t much difference between the average FX rate of 2024 (at around 1460/$) and that of 2025 (currently at around 1500/$).
Also, price of crude oil has been relatively low in 2025 so crude oil exports have been lower compared to 2022/2023. Dangote refinery’s crude oil import is large and is also included in the data for imports as well. So some of these things balance each other out to an extent.

Panadee:
These figures are stated in nominal terms, not adjusted for inflation, devaluation or anything else I can observe.
We should always view statistics objectively.
"There are three kinds of lies: Lies, damned lies, and statistics" - Mark Twain/Benjamin Disraeli

This is trade surplus which is simply the difference between imports and exports. Devaluation and Inflation doesn’t really matter much here.
I can convert the figures to dollars for you using official exchange rates of each period.

2022 = 2.81 Billion USD
2023 = 8.50 Billion USD
2024 = 14.94 Billion USD
2025 = 12.75 Billion USD (for 9 months only)

In the early 2000’s we sometimes had trade surpluses of around 40 Billion USD when we produced over 2.2 million bpd of crude oil. Then naira was just 120 to the dollar.