₦airaland Forum

vaxx:
in Africa .

Some nation with the biggest GDP in Africa are also the biggest beggars .

They want everything free

Well Ghana doesn’t have conflict or HIV problems so there’s that.

But I do think the supposed effect from the removal of these U.S fundings especially from countries like Naija and SA are over-exaggerated.

In Nigeria these fundings go to corrupt individuals and there’s good evidence (especially from our chief of defence staff) to believe they fuel the insecurity as their activities have been suspicious for years.
In South Africa, the HIV funding from America doesn’t make up more than 17% of the entire funds used by S.A.

I think countries like Dr Congo, Mali, Bfaso, Niger, Sudan and Ethiopia are in more trouble from this and the AU must do something about this.

Dogalmighty17:
The law needs to be revisited. It is understandable that oil suppliers will seek markets where the can get the best price for thier output. It is also understandable that the government would want the needs of the local refineries met before exporting to the foreign market.
However, this situation leads to an inevitable situation where the price the local refineries may offer will be less than what the international market offers. Forcing the oil companies to meet local quotas at less prices goes against the free market.

True, because our Bonny light crude called sweet crude is special and the most expensive in the world. We get more value from it when it is exported because local refiners would not want to pay the real price for it because it’s local to us.

Kaduna state - Agricultural powerhouse for the region.

GUWA GRAINS MARKET✅

The market is a foremost trading centre for grains (Maize, Soybean, Sorghum, etc) & other agricultural products, connecting farmers with buyers from neighbouring States like Katsina, Sokoto, Kano & traders from other Sahel countries (Niger, Chad, Mali etc).

Giwa Grains Market is one of the major agricultural hubs in Kaduna State.

Giwa Grains Market operates twice a week – Sundays and Thursdays.

Giwa Grains Market is located at Ungwan Shehu along Zaria – Funtua Road in Giwa LGA, Kaduna - Nigeria🇳🇬

(Copied).

Kreesxxx:
No. I am not. See Tinubu has benched mark how much he needs in naira via the cost of Petro. If petrol drops price the only way to balance the budget is to depreciate the naira or alternatively increase the production of crude oil. With what you know about our leaders which one do you think they benefit and the people will groan? You know the answer. Depreciating the naira comes easy and the people will groan under hardship.

That budget has not yet been passed. It starts in June. We are still working with the old budgets.

Gboss247:
The landing cost of petrol from Europe is $0.9 across the coast of West Africa, importers sells it 50% below the landing cost and demands under-recovery cost from the federal government.

You assume they demand under recovery from the FG except you have proof to back this up. But let’s even assume this is true, are you saying Dangote is currently selling at a loss? Why is he then not selling at 1200 (afterall shipping cost elimination doesn’t make much difference)?
What you should know is that the other West African countries impose high tariffs on petroleum products. Nigeria has never really been doing that and would not start now.

EMIOMOADEOYE:
In this case, this is monopoly at work.

This is not the last of this.

Dangote can afford to go as low as 500 or 600

But he knows that he is a Tiger in the midst of pussycats.

Just keep in sptep with their puny littel moves and milk as much profits as possible.

EVenetually, all this small players will fizzle out when they can no longer match baba's moves.

When they are all gone, baba will then move price back up

Just like he did with cement

Dangote cannot afford to go below the price crude oil is sold to him.

sucess001:
You get fuel in naira and refune locally and you are sayinh price reduced because of global prices.

Which part of your operations is exposed to global trade?

The crude oil sold to Dangote in naira is not subsidized. It’s at the exchange rate level. Besides Dangote does not get all his crude oil from Nigeria in naira.

Gboss247:
Removal subsidy and subsidize imported petrol secretly

Subsidize imported petrol how? If they are doing that, how come the price of imported petrol is almost thesame as that of Dangote? What is the current landing cost of petrol?

fineboynl:
.. the adjustment here and there is killing the economy. The price needs to be fixed and that's where subside comes in.

This is what it means to remove subsidy. This is how price of petrol fluctuates worldwide depending on movements in price of crude oil. Nigerians are not used to it yet because of decades of fuel subsidy.

Skyehigher1:
If we have importer of cement ni cement price will also go down

Cement is different from petrol. Petrol prices are determined by global crude oil prices.

zikter:
Where are the two functioning NNPC refineries? I hear nothing about them now. At least Dangote is talking and we are hearing

The warri refinery produces only diesel and kerosene for now but would start producing petrol before April. The old PH refinery produces petrol of not more than 2 million litres per day which is not up to 5% of Nigeria’s demand.

chimex38:
https://www.thecable.ng/cbn-approves-cfa-for-repatriation-of-export-proceeds/

My understanding
African countries with CFA franc don't need to source for dollars to pay for our exports.
It is officially a foreign exchange tradable currency for Nigeria by CBN inaddition to dollar, Pounds, Euro and now Chinese yuan.

This is a strategic one. It could be a strategy to formalise the informal cross border trades and reduce this fight for conversion to more expensive dollars. Those from Niger, Benin, and Chad who live in Nigeria and want to trade goods can easily transfer their CFA to Banks without hustling for more expensive dollars from the BDC’s.

Deltamani:
Lol 😂
Zambia say na Woman ooo, what do we do?

Na this ones Dey mk dem dey make noise online so na..!

Zambia and Dr Congo suppose don win World Cup like this.

Deltamani:
Esther Okoronkwo is that forward in the team that you think does nothing but she does alot..😂😇😂

One of the few players in the team who is already naturally skilful. Skill should be used tactically but personally, I have a thing for naturally skilled players ie the Okocha’s, Ronaldinho’s, Messi’s, Martha’s, etc.

Xisnin:
This isn't about personal issues and appeals but institutional strength and integrity.
Any organization that grants the same rights to both current and ex-members has
lost its reason for existing.

ECOWAS is an international union and not ethnic enclave.
It would have been better if ECOWAS pretended to renegotiate the trade deals
with the ex-members and end up conferring them with most of the existing privileges
than the blanket rights extended to ex-members.

It cost the UK billions of dollars to leave the EU along with revoked privileges,
but ECOWAS ex-members are making gains and keeping all membership privileges.

Well ECOWAS is not the EU. If this were to be Ghana, Ivory Coast or Senegal leaving, then ECOWAS may decide to be as harsh as the EU to make them reap the consequences. But Niger, Mali, Bfaso, are all landlocked countries already struggling with armed conflict that affects their neighbours. Isolating them won’t be in the region’s best interest.

Shaytun:
That’s huge!!

We will be seeing $1trillion this year??

That’s over 700 Billion dollars for the full year. December 2024 had the highest number of transactions in our history. That should signify real economic growth in Q4 2024 with PMI rising to 51% for the first time in a long while.
Our Q4 2024 GDP numbers would be interesting.

Dangote petrol sales also kicked in in Q4.

I predict GDP growth of up to 3.8%.

Obiano13:
There are two reasons for that. Kenyans and Nigerians alongside SAns are the most vocal Africans you'll find online. Ghanaians on the other hand keep mute and quietly run away from their country in droves. You saw the list shared by Vaxx where Ghanaian illegals to be deported from the US more than double the number from Kenya. Ghanaians have mastered the art of running away when they see problems instead of speaking up. The second reason is that most NGO's in Africa are concentrated in countries like Kenya and SA and they are very unhappy to see their livelihoods cut. You will see them ranting all over social media day and night.

Very accurate. The list of 30 most talked about Africans on Twitter was also over 90% Africans from these three countries.

Just30:
All the noise should just be directed to your various govt, they are the ones you elect and pay taxes to..

The sense of entitlement on US money is weird

Exactly. Africa beyond aid (in the voice of Akuffo Addo).

Just30:
Kenya and Nigeria, why are you guys crying so bad over Trump cancelling all medical aid supplies from you country?

We are crying? Hmm, I never knew. The world will simply adapt though.

COMPAQ:
There is no big deal to Dangote importing crude, especially since he also exports refined products.

If he imports $2bln worth of crude and exports $2.8bln of refined products, what then is the problem?

And it’s not a big deal that Nigeria cannot supply him 100%. Some countries have refinery and have zero crude! Same way some countries have zero cocoa and export chocolate! Didn't they import the cocoa!? Important thing is value addition.

You are spot on. Nigerians are very funny and emotional and hardly dig into some of these issues deeply.

Obaaderemi2:
What's the story?

They just invented an AI tool called deepseek that is so efficient and does the job of U.S tools like ChatGPT without spending even half of what the U.S put into their AI companies. To make matters worse for the U.S companies, it’s free. This is currently crashing U.S A.I stocks in the U.S stock market.

China just hit U.S so hard.

budaatum:
Nigerian Guinness is big in UK already, and a shortage of local Guinness increased demand of all available stouts in UK including Nigerian Guinness. And I wouldn't be surprised if that increase in demand was all over Europe and even worldwide.

That's not to say Tolaram didn't do "some good sales and marketing", though I doubt their increase was mostly from Nigerian sales.

The below is for 4 bottles. Tell what that would be in Naira.

But this was 11 months ago before Tolaram took over. Guinness were making losses 11 months ago.

iichidodo:
[color=#1986BC] As long as we are not importing fuel and other energy condensates...[/color]

We are still importing fuel for now just not like before.

iichidodo:
[color=#1986BC] The forecast of 15% reduction in inflation for 2025 by that Edun guy is on point...[/color]

Especially with the rebasing this month which would use base year as 2024, inflation in NBS books would reduce. So Government knew what they were saying. The only thing left is to ensure exchange rate stability.

greatiyk4u:
Too much noise over this tax reform bills

Why isn't the document made open self

It has been open for those interested enough to find it.

AfriqueDuZuid:
Do you know Inflation can erode any gains, and Nigeria's inflation is at over 30%

Much of the inflation is also caused by the devaluation. Once there is currency stability or appreciation for a full year, it would have a pass through effect on inflation.

rvp2018:
Ethiopia 230? Ethiopia GDP is like Nigeria before - lots of cooking of the exchange rate. Once Birr is truly freely floating and forex controls removed it will settle where it should

The thing about floating is that the resulting inflation would mean the local currency would catch up after some time. Yes volume of goods and services would reduce at the beginning due to lack of purchasing power from the inflation but in few years at most, everything would adjust to where they were before in dollar terms depending on how fast the economy grows.

AfriqueDuZuid:
On another note

What happened to Nigeria

Nigeria has not rebased for over 10 years now (Rebasing should be done every 5 years). When the rebasing is done it would capture the nominal GDP vis-a-vis the double devaluation of the naira that saw the official rate drop 3.5 times what it was in May 2023 (from 460 to 1530). But Nigeria’s GDP even in real terms has been growing.

rotadeco27:
Mr man , shut up, all crude oil transactions are done on naira and not dollars thus, dollar rate should not affect it. That is the reason for naira for crude for the locally refined oil. Once the price of PMS comes down most of the food items will respond, it is only the imported goods that will be dependent on dollars. By the time PBAT is done with what he has in mind, those of you with fear of God will come out to apologize to him and his supporters.

Naira for crude deal is not subsidized. The deal was made at the prevailing exchange rate so that FAAC would not suffer for it. So if Dangote buys crude today, he buys it at the market rate of 1500 in naira.

stunnert:
The price of petrol will definitely go down in the coming months

They are not producing petrol yet. Also, petrol prices are more dependent on exchange rate and global price of crude oil than the number of local refineries you have.

awesomeJ:
Tution? I'm sure if anyone has learned from the other here, you're the learner.

Is GDP a measure of the quantity of goods produced or a measure of the value?.

Get your points to be coherent na, you don't have to comment if you're not knowledgeable about something.


You yourself gave an analogy that shows the value has increased from N100m to N200m but you claim since the quantity didn't increase from 10,000 tonnes then no GDP growth.

Come on na, no be value be GDP again, have they changed the definition to quantity?


As long as you understand that the value should be showing N200m from the old N100m, you've gotten my point. What you should explain if you have an answer is why NBS is showing the value as N110m.

Real GDP growth removes the effect of inflation (usually caused by devaluation) on that growth. While nominal GDP growth would give you as it is. What you are focussed on as the only GDP growth is nominal gdp growth.