₦airaland Forum

zendi:
In fact, if Brent drops to $50, drillers will start winding down production, given Nigera's high cost of production. There are things I refrain from uttering here, to avoid triggering panick selling.

Even $50 is not good for U.S. They are now net exporters of crude and some in the U.S oil industry have also argued they don’t want crude that low. OPEC+ members like Russia and Brazil are also lamenting low oil prices because it would affect them greatly so I believe and hope oil prices do not get to $50.

Fitch upgrades Nigeria to B on back of string of reform measures

theenchanter:
effect of social media 😂😂😂

River park estate is owned by Mr Paul Odili.😁

Paul Odili made that claim in January but aside that I see no other evidence to support the claim that he acquired it. The Ghanaian millionaire also denied that the estate has been sold so I believe he may very well still be the owner.

Raider76:
Not when you have a government of oil import cabals. Every country is trying to protect its own industries from imports but we are proudly providing easy dumping grounds for other countries' refineries.

True but not the reason for the fall this past week. There is sell off from many emerging markets by foreign portfolio investors. The central Banks in all these markets now have to defend by providing FX from their reserves to shield the markets from the shortfall left by investors who want to take their dollars out. CBN has provided over 500 million USD this week alone to cover the shortfall.

Agbalowomeri:
And our naira refuse to gain against the USD

This is because investors are also selling our bonds due to the fear of crude oil slump. South Africa and Egypt facing thesame issue at the moment.

American dollar is getting weaker and weaker.

Uten9z:
4

Traore happens in an underdeveloped country, we have moved beyond that time .
Nigeria remains electoral Nation though, I don't think anyone can stake his life for it.

Nigerians who speak of Traore makes me laugh. We have passed our Traore era with the likes of Murtala Muhammed of the mid 1970’s.

Streetinvestor2:
Really so we are copying China system by rubbishing naira.We learn new things everyday .

No. Ours was because we had just around $4 Billion in net external reserves at the end of 2023. Even if CBN wanted to defend the currency as at early 2024, they had little to nothing to defend it with and could only cry and blame Binance then because traders saw the CBN wasn’t pumping in dollars and they took advantage of it taking it to 1600/1900 levels as at Feb 2024.

China has more production and exports than any other country on earth and as a result they have the biggest foreign currency reserves in the world ( their USD reserves is over $3 trillion). They make trade surpluses in trillions of dollars which even U.S doesn’t make.

That means Chinese currency should be the strongest in the world but the Chinese Government deliberately devalues it in order for their exports to remain cheap.

megawealth01:
Una wan rub shoulder with the ODOGWU ni?

They love it that way because it makes their products cheaper. This is what America hates about them because America cannot just devalue their currency deliberately like China. They purposely devalue their currency to make their products cheaper.

Gboss247:
Every sane person knows that foreign investors invest their forex in Nigeria to earn more forex which Nigeria don't have but borrow loans from multilateral organizations like World Bank, IMF, AfDB, Afreximbank Chinese Eximbank etc for foreign investors to convert their naira profits to dollars and repatriate back home.

Okay so you don’t want foreign investors, why are our minerals not out of the ground yet? Foreign investors are involved and responsible for getting resources out of the ground in almost every country because capacities differ. Without foreign investors investing first and then employing indigenous people who go through the ranks you may not likely start.

Without the likes of Shell, Mobil, Agip and Chevron investing in our oil sector and training our locals over decades we won’t have the likes of Seplat, Oando, and Aradel today.


You need two major things:

1) Experience/ Technic
2) Finance

megawealth01:
A whole EU calm down for TRUMP for negotiations but XI wants to rob shoulders with an "undemocratic" TRUMP. If China no bow eh. $500b not beans. Shebi na WTO they have run to?

The movie just begins...

EU is basically France and Germany and both economies put together are still twice less than that of China.
If any country can withstand a targeted trade war from the U.S, it’s China (even if they bleed). EU has far more to lose than China.

megawealth01:
Donald Trump is the real ODOGWU

Brent now almost $64 dollars from $61 in a space of 20 minutes 😀

Mpeace:
Hmmm.
What if the rest of the world actually respond to the US in like terms. US will face a serious fall in exports.

What countries begin to dump the dollar and replace it with other currencies for international trade...

EU are even beginning to entertain the idea of trading more with China and Brazil, India and limiting their exposure to the U.S. They are only worried about Germany and Ireland who would be hit hardest in the short to medium term due to their dependence on U.S for car exports (in the case of Germany) and massive U.S tech import (in the case of Ireland).

Germany is also considering withdrawing their 400 Billion dollars worth of Gold from the U.S.

EU playing safe for now though due to the reasons mentioned above but their leaders especially Macron are all irritated by Trump.

Sheuns:
The Chinese investors that are coming, have you bothered to find out how they secured such funds?

Do you even know that the Chinese government massively invests and supports local industries?

The Chinese Government is very wealthy and can afford to do that. They also have very educated citizens who are into mining.

Sheuns:
Something you should encourage your country people to mine, you’re inviting foreigners to come mine. Later una go talk say them use una resources develop their country.

Where is the capital? How much does our local investors have? Don’t we want FDI?

delvzy:
TRUMP; Like him or hate him but the fact remains that the current state of servicing debt in America is currently unsustainable. Forget the hullabaloo that some of these MSMs are painting and ask yourself this, “What other approach would force the world to the negotiation table than this?”

I try as much as possible to watch the intent here rather than the tantrums being thrown by some world leaders back and forth.

Sometimes what appears to be a stupid idea is worth more than nothing at all.
The World Economy can't continue to kick the cans down the road.

We wait and see. No matter what the world does, the major players in this game are China and the EU. If they don’t bow and instead decide to retaliate, then it may not go as planned for Trump.

NothingDoMe:
We are going around in circles. Now we are back to the Naira value again without considering the value of each profit based on the USD to Naira in 2023 and 2024. 😆

It's like a merry go round. lol.

The point is that Total did not lose in dollars.

NothingDoMe:
So how does apply to the topic: "Totalenergies Reports 140.35% Surge In Profit As Revenue Surpasses ₦‎1 Trillion"?

Where does the 140.35% come in between $26.9m and $28.13m?

140.35% in naira from 17 Billion naira to 42 Billion naira. My argument is against those saying they didn’t make profit in dollars. I am saying that’s wrong, they still made a little profit in dollars.

NothingDoMe:
Someone will look at this and say hey he has a point but will forget that you didn't use the actual income in your calculation. This is how people lose money to scammers.

So, let's apply your Naira value to actual figures:

N635.9b/N650 = $978m in 2023
N1.04T/N1500 = $693m in 2024

Your own calculation is even worse than mine as it puts the loss at $285m.

I’m looking at their profit which is what matters most to them not their revenue. Use their profits in 2023 and 2024 to do thesame calculation.

17.5b/N650 = $26.9 million
42.2b/N1500 = $28.13 million

NothingDoMe:
IOCS take their money back to their country of origin. They don't send Naira back home. 🤣🤣🤣.

You can as well show us your calculation of how they made profit in USD. That's the currency that matters to them.

They made 140% profit. Average naira value to the dollar in 2023 was 650 naira. Average naira value to the $ in 2024 was 1500 naira. That’s 130% depreciation.
Therefore, 140% profit beats devaluation.

Agbegbaorogboye:
How
Didn't you see a $70m loss

The oil market is dollar denominated

They made over 140% profit before tax right? Devaluation was 130%.

Dougad:
The Naira lost 233% of its value over the past years. An increase in revenue by 140% only shows that they didn't even make as much as they did last year.

No, the naira moved from an average of 650 in 2023 to 1500 in 2024. That’s 130% depreciation not 233%.

NothingDoMe:
The value of dollar to Naira at December 2023 was N850. So their income was roughly $750m in 2023.

Now, Dollar to Naira closed at N1700 at the end of 2024 but I'm going to use N1500 just to be nice.

This brings their 2024 income to $680m representing a $70m loss from the previous year of 2023.

What matters is their profit which beat the dollar devaluation no matter how you calculate it

Penguin2:
Change that money to dollars and you will see they are probably doing worse than they did in 2015.

Meanwhile the increase is driven by Nigerians’ blood who now have to pay more than double for the energy products that Total is selling

Any company with a profit above 120% in 2024 would still do better in dollar terms over 2023. Do the calculation yourself.

chimex38:
May be true..
But at least our own dangote's export go hear am.

I heard refined products are not affected by the tariffs so Dangote refinery would do fine.

Raider76:
Talking about Dangote. How will the changes at NNPC affect local refining? It is being said that some of the key people coming in are from Renaissance Group. I believe Aradel is in the group, and it is said that they have a refinery
Will they help local refining against imports?

Dangote’s deal leans more on the FG committee and NMPDRA than NNPC. In the end, NNPC would only do what the regulator NMPDRA tells them to do.

Austin Avuru cofounder of Seplat also appointed. I love this.

pluto09:
So, it was actually true that our net foreign exchange reserve was about $3.9b at the end of 2023.

https://www.vanguardngr.com/2025/04/cbn-reports-23bn-net-foreign-exchange-reserves-strongest-in-over-three-years/

Reduced from around $14 Billion in 2021 to around $8 Billion in 2022 and then $3.99 Billion in 2023. Remember we also had foreign debts to service which increased to an average of $400 million monthly in 2023/2024.
All of these explains why Q1 2024 was a crazy quarter for the CBN.

RodgersAkpafu:
Another stupid policy from an idiotic leadership
When the banks bore the brunt of their recklessness, did the FG give them tax rebates ?

Now they have made money because they were smart enough to hedge, using but not limited to Derivative instruments
Now you want 50% of it

When they call them animals and dummies now, people will complain

Manufacturing sector that have borne a lot of pain due to the FG, what tax rebate were they given ?

Sheethole

Banks are really trying if you also consider the 50% CRR.

Dum20:
You have a very valid point.

But you know at the end of the day, after school, you will not be carrying textbooks around. if you need any information you either google it or check AI.

So i guess AI will replace textbooks as you get what you are looking for faster

If they don’t develop the capacity to focus on details and use textbooks for rigorous research now, there is the danger of them not becoming thorough enough in the work place and may have short attention span.

popizaino:
I don't know about east African bloc,but i can tell you for free that movements of goods is not easy across west africa countries. Benin Republic is an impediment to what should have been smooth movements of goods across the sub region. I am even planning of writing to the Nigerian embassy in Benin Republic of how much of stress we undergo to just transit goods through Benin 🇧🇯. How could you require duty for transit goods?

I heard Liberia - Ivory Coast border is worse. Infact most of the borders. They demand lots of bribes especially the Francophone countries.

African countries which have companies with revenues above $1 Billion .

Nigeria punching way below her weight. Kudos to Morocco and South Africa.