₦airaland Forum

anonimi:


Of course it does have a great bearing on foreign reserves if you borrow locally to pay off your foreign debts.

If you borrow locally to pay your foreign debts, where would you get the dollars from since the Government doesn’t print dollars? You would then have to go to your foreign reserves to convert to dollars except you are talking about treasury bills in which FPI’s also participate in but FPI is hot money and they bring in and take out as they please.
FPI inflows have not been as high as it was in March/April.

anonimi:
How much has he borrowed in local debt

Local debt is in naira. Has little to do with the topic of foreign reserves.

anonimi:
How much has he borrowed since last year

He hasn’t borrowed more than 4 Billion dollars in foreign debt.

MasterJayJay:
Something that hit 40 billion dollars in previous administrations.

Make una rest. Nothing extraordinary about 34.7 billion.

Tinubu met the reserves at 35 Billion dollars. He has serviced more debts since then and has cleared 4.6 Billion dollars backlog in addition.

Obiano13:
Its true! The kenyan police not army. Everyone knows they are in Haiti at the behest of American money and Ruto's foolish puppetry. They are guarding embassies and other critical infrastructure airports, etc. Kenya doesnt even have an embassy in Haiti. Meanwhile the popos in Kenya are overwhelmed by the situation. As Kenyans we just feel bad for these guys because some of them won't come back alive. Ruto is just exporting tyranny and grief to other countries that already have enough suffering. Tyrants have one thing in common. They are very unpopular at home but try way too hard to be liked internationally. Kenyans also naturally and universally fume at meddling in other nations' affairs unless the affairs of that other country directly affect our internal affairs. When kenyan forces stormed Somalia in 2011 we universally approved because the instability in that country was significantly affecting our day to day lives. The current nonsense with Ruto is such a major departure from the non-aligned position we've always had. Ruto even went to the UN thing and attacked Russia on behalf of the US about the Ukraine issue. This man is just foolish. The same Russia had given Kenya millions of tonnes of free fertilizer just the other day, some of which Ruto stole and sold farmers fake fertilizer in the form of soil dug from the ground. Never seen such a disaster of a govt.

Hmm

vaxx:
Eco currency received Nigeria support. I wish this become a reality soon.


Naira/ cedis shall soon become a thing of the past. If only horses can fly

It has always received Nigeria’s support. The problem was France lobbying to be involved and to keep some of the reserves of countries in the region.

Obiano13:
Its not. We will be very methodical. Right now Ruto's pigs are running around the country apologizing to their citizens and seeking for forgiveness, which wont happen anyway. They will all be recalled and their master will remain naked, on his own. No single politician will want to be associated with him. These are people who one week ago thought they were untouchable now kneeling to citizens. And it’s just the beginning. You can see how raggedy they look in slippers after living in hiding for a week.

Wait is it true that the Kenyan army is guiding the U.S embassy in Haiti? Please tell me it’s fake news.

Reef court estate PortHarcourt


https://www.youtube.com/watch?v=ZlM5WFJ85R0?si=wet9nE012e39z3pS

Anguldi:
This investors need dollars for fund repatriation , our economy is in a mess

Sooner or later, they will park out. Purchasing power is almost dead

They have more dollars to repatriate now unlike last year because the rates are unified.

Deltamani:
Who replaces her now? Cause among the alternatives we don’t have any Defensive Midfielder in there, I believe the window for changes is still open…!

Randy need to get a Defensive Midfielder not bringing in any of the alternatives, Abiodun and Ucheibe can’t do the job alone, they need supports..

Regina Otu??

No please. We can do with Ucheibe and Abiodun there. Let’s give her spot to an attacking midfielder or Rinsola.

Deltamani:
I think this is the only aspect Randy got it Wrong, we needed a good crosser among the flank players upfront, Kanu and Ajibade doesn’t give that.

If Rinsola was there it would have been better because he picked Macleans and Ihezuo who are also very good in the Air and can also feed from good crosses like Oshoala.


Kanu again has a nagging Knee injury which Racing Louisville has been managing well. She won’t play 90minutes for sure, Maybe Randy has plan for Esther and Ihezuo to play from the flank.. Esther can also cross very well from the Left flank too but her style of play is very deceptive.

I also think it should have been Rinsola for Kanu because Ihezuo already offers much of what Kanu can offer.

rvp2018:
But isnt Dangote import crude?

Yes.

Exports of gasoil from the refinery hit nearly 100,000 barrels per day (bpd) in May, nearly doubling April's levels, data from analytics firm Kpler showed. The bulk of the exports went to other West African countries, but one cargo was shipped to Spain.

Preliminary June gasoil volumes have fallen sharply, though overall oil product exports including fuel oil, naphtha and jet fuel remained relatively elevated at 225,000 bpd, the data showed.

The refinery "changed the balances in West Africa", affecting European markets as a result, a European distillates trading source said.
EU and UK gasoil exports to West Africa fell to a four year low of 29,000 bpd in May, Kpler data showed, while Russian exports to the region fell to an 8-month low of 87,000 bpd in May.

Source: Reuters.

Just30:
this really achieves nothing

Why?

ECOWAS ON THE MOVE

Customs Directors General from Nigeria, Ghana and three neighbouring African countries have agreed to connect to the ECOWAS electronic Interconnected Transit Goods Management System (SIGMAT), regarding goods transiting the Abidjan-Lagos Corridor( before September 2024). 
The agreement is aimed at easing trade on the corridor through the electronic sharing of information on goods in transit, as against manual documentation along borders, among others. 

What the above policy seeks to address are issues relating to “Cargo diversion”.
We have seen Nigeria bound cargoes use other ports within the ECOWAS community. This has contributed to smuggling and loss of revenue.

By connecting to the ECOWAS electronic Interconnected Transit Goods Management System (SIGMAT), importers from Nigeria can use any port however the expected tariff will be paid and accrued to the Nigerian authorities.

NIMASA is also working to ensure the creation of ship-to-ship zones to avoid cargo diversion to neighbouring countries.

Deltamani:
Hmm, just a few talent here and there with the two Chawinga Sisters the key factor.. Unlike your Country that has over hundreds of talents but the FA wouldn’t do much to make the National team better..


I don’t think they two alone can get the job done! They still need few other good ones to compliment their efforts if the FA choose to support them..

I watched their games at the last COSAFA. I think they are more coordinated than you give them credit in your post here. They may not win the AWCON but would definitely not be taken for granted. They definitely deserve to be ranked in Africa’s top ten if their FA could do slightly better.

Promise47:
She strong like Man wow 😲

It’s a shame that Malawi have somehow wasted this generation of Malawian talents. They won the cosafa cup last year beating Zambia and SA in the process but always withdraw from qualifiers of big competitions like the AWCON and Olympics.

Obiano13:
Do you know Ruto is stealing 7 Billion dollars a year? 1 billion is peanuts.

That seems to me like an exaggeration. Ruto stealing 7 Billion dollars a year? Biko how much is the total Kenyan fx reserves?

gallivant:
Life goes on. The kids got their candy for now but the bills aren't going away. Kenyans will pay one way or the other. Just my opinion.

True. It seems it’s part of a pact with the IMF for that almost 1 Billion dollars loan.

Jamestown123:
There are nothing to prove to you my bro, it's staring right to you in the eyes. Stop denying the fact that you think insecurities has reduced, roads are improved, and education and health is better under this regime. I supported the fuel subsidy removal, because i thought the money was going to be used for a better course. But no, borrowing has even increased, debts keeps growing, the economy keep tumbling, because of the government lack of foresight. I thought after fuel subsidy removal, the money will be channeled into education, agriculture, and security improvement. But no, all the government knows is to keep spending lavishly without any proper plans.
And concerning where I come from: I'm neither Igbo, Yoruba or Hausa. And I have never defended Ghana here. Ghana wey dey ment?

Fuel subsidy is actually back. If Tinubu truly removes fuel subsidy in full you would be paying nothing less than 1350 for fuel today.

Jamestown123:
I really don't like typing long, but I will be quick sha. You are really sounding like a politician or someone who is on the payroll of this present administration. It's very stupid and disrespectful of you to say, insecurity has reduced significantly, And I mean book haram, bandits, kidnapping and herdsmen attacks has been reduced to a record low. This shows that is either you are on the payroll of the government, and you will say anything to defend them, or you are not informed, and chooses to be ignorant to what's happening in the country. Not everybody that speaks about the evil of the government is against the country, we have to speak because it affects us in one way or the other. On the road infrastructure, you are not a frequent traveller, and I can bet you hardly knows of any Nigerian roads. You are the type that relies on news to tell you how roads are being constructed left right center, mine while nothing as such is going on. Few roads are being constructed, I agree, but not the way you are putting it. The only thing you could have told me is that, the government is still just 1 year in office, and I could have just kept my peace.
You said it's to early to have a full accessment on healthcare, the price of medical drugs and other medical equipments has gone up X4 of it's actual price, since this present administration came in. A wise government, can't just come in and remove fuel subsidy, health subsidy, electricity subsidy, education subsidy and any other subsidies all at once and claim is saving the economy. You came in when the economy was ranked 1st in Africa, now we are 4th in Africa. A government who is asking you to tighting your belts and be patients with the government, is spending 21 billion, to renovate a structure. Increased lawmakers salaries by almost 300%, yet, can't increase civil servants salaries. You have it, doesn't mean that all Nigerians have it. It's even a big security threat to you, to have it, while majority peoples around you don't. And that is the reason why kidnapping and arm robberies has been on the increase.

Tinubu increased lawmakers salary?Constitutionally can he do that?

AskiaHarem:
That’s because not everybody on a civilian basis be it individual or group is equal. Some indolent, the failing, some scraping by, most vibing, some succeeding, some Excelling. There isn’t a one voice because the Nigerian experience has a much wider spectrum than say Kenya or Mali.

The indolent just want everybody and everything to burn so they can scavenge the ashes or install there own corrupt system to benefit there own group.
[Anarchist Revolutionist/Coup]

The failing who find themselves struggling to escape the bottom weather it be from there own inadequacy or unfortunate circumstances in the unforgiving atmosphere of a developing nation-state where opportunities can be scarce at times.
[Hard Revolutionist/Coup]

The Scrapers who are one step above the failing who only make ends meet(scrape by) and struggle with advancing further do to said circumstances.
[Soft Revolutionist/Hard Reformist]

The Vibers aka the middle grown or the local middle class. There generally somewhat of if not totally secure both lower & upper. They have prospects of going up in the ladder; but also know a bad move can throw them off. They prefer not to risk rocking the boat to much.
[Hard-Reformist]

The Succeeding who are able to harness there skills and secure opportunities; are usually always climbing the latter with a positive outlook for the future. Like Vibers they prefer not to rock the boat to much and risk compromising there growth if at all.
[Soft-Reformist]

The Excellers these are the rocketeers of Nigerian society; on there way to becoming extremely wealthy and influential if they aren’t already are. Like anybody these people could have have achieved their place through birthright, nefarious actions, or honest hard work. These people want little if anything to change “fundamentally” because it’s working out for them.
[Soft-Reformist/No Change]


As said before there is no “One Voice” for Nigeria and likely never will in the foreseeable future because the Naija experience & retrospective is far to nigh equally broad with no class or group having the upper hand.

The average Nigerian is more interested in restructuring/reforms. Anyone who attempts extreme measures or holds zero urgency will never have a platform to get off the ground which is honestly for the better.

Exactly. Who do you want to protest? Is it people who are more concerned about Davido than the price of tomatoe?

Lagos.


https://www.youtube.com/watch?v=HcensixhOqM?si=u1HJbr-uwAT_PMSB

Jamestown123:
Lol. The problem is not even the removal of all those subsidies we have been enjoying before oo. What have the money been used for? That is the golden question. We haven't seen any improvement on our roads, inflations keep getting higher, our national debts keep increasing on a daily, because of constant borrowing. One would think that, after removal of fuel subsidy, education subsidy, electricity subsidy and health subsidy, that there will be an improvement in all these agencies, but no, still nothing. Security zero, education zero, health care zero, roads zero, Tinubu's first year in office has been a complete disaster and nothing more.

Well there is still subsidy because after the first removal in May 2023, the resulting spike in the prices of goods and services never allowed the naira remain stable. So with the movement of the naira away from 760 and 900, subsidy of fuel is back for now.
The only policy Tinubu seemed to have successfully achieved 100% for now is suppression of Naira black market but at a price of a weak naira.

Ghana with the haircut of 4.7 Billion dollars.

Enugu City, Nigeria.

rvp2018:
the pain of not defaulting like GH

Same thing with Nigeria. The debt servicing for the past one year have increased tremendously. The policy reforms in Nigeria and Argentina and probably Kenya as well have been quite hard on the citizens.

Sometimes I envy Ghana. Yes they’ve defaulted which would always affect their credit rating but now they wouldn’t have to continuously service those debts (at least for some years to come).

vaxx:
Yes it hasn't changed the fact that the same company operates in both countries.

Yes the market in Ghana are found in Nigeria. Check your blu band next time and see the production line or even Kings oil. They have a label.

What do you mean by the market in Ghana are found in Nigeria if according to you the company produces in both Ghana and Nigeria?
Also, Kings oil is produced in Nigeria but I am yet to find the article that says it’s also produced in Ghana.

PDPGuy:
I believe Kenya will be making their debut at a FIFA women’s tournament, as a result of this qualification

Is it that Ghana didn’t participate in the qualifiers?

vaxx:
I said kings oil in Ghana not Ghanaian kings oil.

This was your argument from your earlier post:

“that is a welcome development.presco is not actually doing well in the market, hopefully Nigerians management can utilize their skills to return them into profitable venture.

Kings oil in Ghana with a subsidiary in Nigeria is one of the biggest palm oil production in Africa ( and among the top five in the world) kings oil from Ghana are even available in Nigeria market, at times they just produce just so many for Ghana market , so they offload it to Asia or some part of Africa.

vaxx:
I said kings oil in Ghana not Ghanaian kings oil.

What are you saying? Wasn’t your initial argument against the guy who posted PRESCO entering Ghana, a reply to say that a Ghanaian company Kings oil is the biggest palm oil company in West Africa with some available in Nigeria ? or should I repost your comment?