₦airaland Forum

Totilopussylick:
This is incomplete list.

Nigeria has to be there when they released the complete list

How many Nigerians get data?

AcuraZDX:
In your next life, don't go down this lane with my moniker because en go bloody.

Even your top strikers know your god is a thief and failure

Well Lauretta has come out to say she only heard rumours then. She had no proof.

Dobodobo04:
For those saying he should face justice in Sierra Leone, Sierra Leone’s democracy is still at its infancy and fragile.

They are gradually recovering from the Civil war and if his departure will enhance peace, let him leave.

Let’s also not forget that Charles Taylor was easily arrested and convicted because he got asylum in Nigeria, making Liberia ultimately stable.

Also, a war in West Africa will get very little attention from the rest of the world because their gaze at is currently on Ukraine.

We have suffered a lot, what we need now is peace and prosperity in Africa.

They don't understand. The man has many followers and the last election is viewed unfavorably by many. This may be a dicey situation but we wait to see what pans out.

MrHyde:
Why accept Amnesty from a criminal? What kind of people do you hope to invite to your country in the future? What benefits do you portend to derive from this decision. This Tinubu administration keeps getting worse.

As a politician, Tinubu knows it might be dangerous to imprison a former president who has many followers especially in a politically unstable country like Sierra leone. Maybe that's why this political solution was preferred since exile is sometimes seen as a form of punishment. You have a good point though.

vaxx:
There are so many nigerians into import buisness . How will it dey survived this hardship

Cedis actually went thru it indeed but imf money was very much available

Yeah IMF money but even more importantly the fact that Ghana no longer feel the pressure of servicing so much debt.

SmartyPants:
I dont see why he would import at all if not for inefficiencies in the system. The govt has also pledged a certain quantity for him annually so if all goes well importation should be out of the question

They set aside 483000 bpd of crude supply for him and other refineries monthly but with our oil production currently around 1.4 million bpd, that's a tough one. Out of the 1.4 million bod, some are tied to forward sales contracts. So we may only have 800,000 bpd for export and FX. If we give local refineries 483000 bpd as touted by NNPC, that would mean we have very little for crude oil exports and FX.

SmartyPants:
They need a supply of at least 10 million barrels a month to run anywhere close to full capacity. This is a decent start as I think we're now up to about 6 million barrels supplied but there needs to be a more reliable pipeline of supply to sustain operations, if not I see Dangote having to import.

Again, the commitment of the Nigerian government is crucial here.

Dangote would eventually import. That's why it was built where it was strategically. What Dangote said was that it makes no sense to begin operations via importing.

franconian:
Since they've been receiving crude, have they mentioned when they'll start production?

If truly they are hoarding info, it's from the general public. Those working on the project know what's up.

Yes they mentioned. They said after 6 million barrels of crude have been received, they would start. Currently, they've received 4 million barrels.

franconian:
I got exact same info 2 days ago from an insider. No wonder those foreign financial organizations don't factor in local production of fuel when predicting the state of our economy for 2024.

So why are they receiving crude if it's not about to start? Is it for show off? and why would they spend 19 Billion dollars, only to show off? If the Indians are hoarding information from the Nigerians as said by the post you quoted, then how did the Nigerians there come to the conclusion that it's 2025?

Happy new year my people. We thank God for life.

This analyst enumerates why Abuja was a success story and didn't go the way of similar projects that failed around the world.

Video made probably late last year but released 4 days ago. Insightful.


https://www.youtube.com/watch?v=ZUgs1VOdNII?si=JEokkSZa1ONlsbR4

gallivant:
I wonder how a city built by orange people would look like.

😄😄😂

Kukutenla:
It's obvious you don't understand what is being discussed.
Happy new year

Lol. What do you understand by what is discussed?
Before you debate me on this, read the full article on nairametrics to see that it goes to the accountant general. Read it also to get other details. It's obvious you've not read it.
Happy new year.

Kukutenla:
What is it with you people and turning simple and basic things on their head when you want to defend govt.
Is NNPCL remitting money to CBN or to federation account domiciled with CBN? Your claim is like saying an agent of mine who remits money into an account I have with zenith bank is remitting the money to zenith bank and not my account.
NNPCL remittances to CBN are also backed up with receipts submitted to the Accountant General same way you're agents will submit deposit receipts to your accountant. Are you by any chance saying this $3bn is meant for the federation account and will be shared among the 3 tiers of govt at the end of each month?

This is submitted to the accountant general and is for the federation. It would not be shared amongst the three tiers of Government but saved as a buffer.

Kukutenla:
Well done bros
You already finished the zombie MT
But I want to add that you shouldn't have given him so much regard as to post info available on the Internet which he refused to check out before making false claims and telling lies about the loan.

The fact that he's calling a futures contract novel and smart shows his lack of depth on the matter. Tinubu is not the first to engage in futures contract. Even Buhari did such but with our forex reserves with CBN.

The more important part of the whole thing is that what's happening is actually illegal. The NNPCL as a govt entity is expected to remit all its revenue to the federation account with the exception of its operating expenses. With this contract, a part of that revenue will go into servicing debt incurred by FG. That's illegal.

Secondly, the loan is being taken to solve fx issues. Fx issues are under the purview of the Central Bank and not NNPCL. In other words, Tinubu is robbing NNPCL to solve CBN issues. The obvious fault there is that there's nothing to gain for NNPCL. Such corporate mismanagement will scare more investors away as they'll see the govt as one that's being run in an inefficient and haphazard manner, that sees NNPCL as it's breaking a corporate code. Note also that most international investors refused to get involved in the deal and UBA, a Nigerian Bank is now giving its own country "foreign" loans. You see katakata so?

It is this illegal, uncoordinated and inefficient move that the zombie referred to as novel and smart and even lied that there's no interest involved as if Afreximbank offers zero interest loans.

These guys are hailing the destruction of this country while forming patriot. It's reprehensible

I don't know what you are saying. Previously when we had high production and without crude swaps, NNPC remitted billions of dollars to the CBN annually. There have been difficulty remitting since then. This is just like a forward remittance.

The only thing that should be questioned here is that the deal is not as transparent as I would want e.g how many barrels of crude was sold to Afrexim Bank and what was the nature of Afrexim's deal with the oil marketers?

iyke2frankeze:
The NNPC took a loan to support the Naira previously which raised so much dust just few months into Tinubu regime or have you forgotten?

That's the loan that just came in now. The deal was only announced and secured then but they didn't receive it then.

MT:
Thank you for your analysis.

You are worth responding to as you critically analysed the issue, and you are civil as well.

One, it doesn't attract interest as it is a business transaction. Nigeria is not borrowing it

Second, like you mentioned, petrol price could go up in international market and Nigeria would have lost out as we have sold at cheaper price to Afrimex.

However, look at this way too. With this deal, Nigeria doesn't need to prop the naira by depleting our foreign reserve, and the importers could have access to cheap dollars at the time the dollars would have gone up.

Also, Naira position will not be worsened as most forex demands from the importers would have been catered for by the fund.

Fuel price will not go up in the country as well, as that is one of the conditions before you can access the fund.

Nigeria can also benefit from increase in oil price from other crude oil being exported.

There are are always pros and cons to everything but in my considered view, I think the pros outweigh the cons.

My opinion

How would Dangote refinery affect this dynamics?

iyke2frankeze:
A second loan to support the Naira within how many months? And the zombies keep telling us that the Naira devaluation will favour us? Why take loan to stop the favour?

No loan has ever been disbursed previously.

DeOTR:
There's no point attaching "carelessly" to printing and circulating excess money. It's already a definition of carelessness. While this might be the major cause of rising inflation in the country, I think it has minimal impact on foreign exchange.
While I believe the rising inflation is not just a Nigerian thing at the moment (at least, from my experience in Egypt and Canada), we imported most of it, due to our dependence on other countries.

Rising inflation is 50% due to the naira. This is why even troubled Bfaso, Mali, Niger all have low inflation due to stable currency.

Realtruth2023:
What are you smoking really? We cannot even meet local consumption because of inflation. Our currency is weak that is why these guys are buying up our produce. They are winners in the and we are the losers. The FX ends up in the parallel market and not in the official market.

It's not even hard currency they are paying. It's CFA which makes this worse than I initially thought.

mfm04622:
It doesn't matter. What we need is the volume.

The gap between the two markets distorts the market equilibrium hence the BDC's have the dollars but their trade with it is not regulated as it should be. The CBN and Banks needs more of those dollars.

mfm04622:
The proceeds goes to the farmer that produced the goods, not CBN. We earn the foreign exchange because they come with their currency which they change to Naira before buying our goods

Yes but they convert their dollars at the black market which is out of the CBN's control and not regulated.

tctrills:
It's not a transportation problem oga. It's a currency problem.
So in 2020, 1400cfa was equal to 1000 naira but today, 1000 cfa is equal to 1800 naira. So it's very cheap and easy to buy up Nigerian produce and continue to drive up inflation

This is a good thing if we can increase production and find a way to bring the proceeds of these exports to the CBN and the formal economy.

yinkeys:
For me
Nnadozie is in the top 5 list of best goalies in the world
For me

She's good. Just need a little fine tuning in terms of her concentration and consistency. She's improved with crosses.

vaxx:
I once told you guys in this page that there is not going to be any war in Niger. Ecowas is fighting no war except by mouth.


Anyway , thanks to the crisis, Niger republic has the fastest growing economy in the world . A big surprise to France .

What is the basis for this fastest growing economy in the world? I'm yet to find out.

isan:
He's back because he wished Nigerians merry Christmas ? Did Nff send him a contract yet ?

While doing that, he deliberately (from my observation) had his superfalcon head coach portrait at the back.

GUNITGuy:
I have said this before I barely consider Nigeria elite class a Successful one they hardly invent, Write a book, Win a Nobel Prize, Solve a Global problem, Astute Politician or Technocrats but all they have is Money from a System that they have mastered how to manipulate and cheat it ......Please can this people just extent their Success to Ghana or UK. and repeat it there let's Widen our Success Horizon

A few have extended their successes to Ghana and other countries though e.g Dangote, Adenuga, Elumelu.

ThierryJay:
The way Genevieve was dancing hesitantly seems like she's scared of Mrs Elumelu

At this party, even Macaroni stand leaning on the wall like all those mogbomoyas at average wedding parties. Since everyone there is a celebrity, only the superstars/big wigs there like Wizkid, Davido, Burna, Governor, Billionaire/Multi-million dollar CEOs etc are the real celebrities of the occasion.

This kind of party, even if dem give you free invite and you know say u no get levels, better shift jejely before you bring depression from oppression upon yourself.

Forget everybody there. Na Genievive be my favourite for that place even though BUA they there.

creativehubb:
Apart from loosing soul, this type of mentality and talk, push a lot of young ones into crime...most people are dumb, all they can talk about is money.

The Nigerian mentality is crazy.
On a normal, people all over the world get big in their particular field, then achieve fame and are respected. The money is just a byproduct of this process but youths in Nigeria put the money before this fame and this upside down mentality affects the general Nigerian value system.

overdrive:
Mullah comes with fame my brother.

If so, then why focus on mullah first before the fame?

overdrive:
Ego amaka. Jee chuba the money.in everything you do make sure you make the mullah!

Not necessarily about the mullah. It's just all about being a top person in your field. That's all.

They were not invited necesssarily because they have money. They were invited because they have fame.

vaxx:
nasboi will go far I bet you . He knows his onions well enough.



Ghanaian buisness men are not really ready to invest into music. Most of the music on hit here are mostly self financed.

Because there is usually little return of profit or investment.

The investors are not sure if the new Arts would succeed and how to recoup their investments except in the case of exceptionally rich firms or Billionares who can take the risk.

A long time ago in Nigeria, Glo and Billionare Adenuga for example did a lot for Nigerian entertainment while at its nascent stage then with very little profit, but today there are relatively more players in the sector especially development finance Banks like the Bank of Industry (BOI) and others.