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Nairaland Forum / Hadeylex's Profile / Hadeylex's Posts
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Politics / Re: Coastal Road: FG To Charge N3,000 On Average Per Toll Gate, Says Umahi by Hadeylex: 7:47pm On Apr 11 |
Kenochi: Another idiot sponsored commentator 1 Like |
Politics / Re: Defend Nigeria, Support Leaders, Tinubu, Buhari Urges Citizens by Hadeylex: 9:10am On Apr 11 |
Coolestguy2023: You are an idiot sponsored commentator |
Politics / Re: Tinubu Jets Off To Senegal For Faye’s Inauguration Tuesday by Hadeylex: 10:17pm On Apr 01 |
Okwyjesus: It is because the commentator is an idiot and cannot think outside the box other than just acti out the job he is paid to do |
Romance / Modern Ladies And Their Methodical Begging by Hadeylex: 9:48pm On Mar 24 |
Modern Nigerian ladies! You ask them out today, tomorrow, they don't have data; they don't have gas; they have an urgent financial need, bla bla |
Business / Re: Bank Recapitalisation: 17 Out Of 24 Banks Might Not Meet CBN Capital Requirement by Hadeylex: 4:02pm On Mar 16 |
datola: First Bank GTBank Zenith Bank UBA 1 Like |
Politics / Re: Video Of FCT Abuja Residents Looting NEMA Warehouse (video) by Hadeylex: 2:49am On Mar 04 |
Caramia2020: It's Tinubulation-23, not 24 because it started in 2023 Covid-19 was named -19 because it started in 2019 but became well-pronounced in 2020 |
Politics / Re: Tinubu Will Transform Nigeria Just Like Lagos – Alake by Hadeylex: 4:42pm On Feb 29 |
ERockson: Why won't you believe the one who is paying you to give good comment in spite of the obvious facts that the country under Tinubu has gone to the dogs? Idiotic fool! |
Politics / Re: Tinubu Will Transform Nigeria Just Like Lagos – Alake by Hadeylex: 4:39pm On Feb 29 |
NkanuSon: Don't mind them; they are just a bunch of idiots |
Politics / Re: Tinubu Will Transform Nigeria Just Like Lagos – Alake by Hadeylex: 4:37pm On Feb 29 |
Simonjef: Àwọn idiot |
Politics / Re: Tinubu Will Transform Nigeria Just Like Lagos – Alake by Hadeylex: 4:36pm On Feb 29 |
Ola9ja23: See Oloribuku! |
Politics / Re: Flashback: How Oshiomhole Blamed Jonathan For Economic Crisis During Buhari Era by Hadeylex: 7:35pm On Feb 13 |
EreluRoz: Jonathan since when? You must be an idiot to reason that way |
Food / Re: Loan Apps? by Hadeylex: 7:11am On Jan 13 |
verybadmouth: Ok |
Food / Re: Loan Apps? by Hadeylex: 7:11am On Jan 13 |
Greatzeus: Children school fees and domestic needs |
Food / Loan Apps? by Hadeylex: 2:39am On Jan 13 |
Please, fellow Nairalanders, from which loan app can I borrow up to N50000 for the first time? |
Romance / Re: Do Women Also Make Promises During Sex? by Hadeylex: 7:36am On Jan 05 |
The thing is don't trust to do whatever a woman asks you to do during sex because it is requested in the heat of the moment; it can backfire! Some people make promises on impulse, whether man or woman. Take for instance, a woman told me to release in her; she said she wouldn't mind! I knew this was a trap, because didn't want a baby then, not even from her. A lady I once f**ked said she wouldn't mind forfeiting her salary travelling down to me just for me to drill her. She lived far from me then. |
Politics / Re: NNPCL, Marketers Clash Over Subsidy, Operators Peg Petrol At N1,200/litre by Hadeylex: 7:04pm On Jan 03 |
caye: Best response so far! 3 Likes |
Politics / NNPCL, Marketers Clash Over Subsidy, Operators Peg Petrol At N1,200/litre by Hadeylex: 4:23am On Jan 03 |
The Nigerian National Petroleum Company Limited and fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, on Tuesday, clashed again over the removal of subsidy on petrol. This came against the backdrop of the depreciation of the naira against the United States dollar at both the official Investors & Exporters Window and the parallel market. On Tuesday, the local currency closed at 998/dollar at the official market, while it traded at 1,225/dollar at the black market. On the back of the falling naira rate, economists and oil marketers said PMS subsidy was increasing in recent times, but the NNPC quickly countered these positions and declared that it was recovering its full cost on the importation of Premium Motor Spirit, popularly called petrol, countering the positions of The Chief Executive Officer, Financial Derivatives Company, Bismarck Rewane, had during a live television programme on ChannelsTV on Sunday, explained that fuel subsidy was not removed but reduced. Similarly, oil marketers told our correspondent on Tuesday that subsidy on petrol was increasing considering the crash of the naira against the United States dollar and the cost of crude oil, stressing that PMS should sell for N1,200/litre in a free market. Petrol, which is solely imported into Nigeria by the NNPCL, currently sells for between N617/litre to N660/litre, depending on the location of purchase in Nigeria. Also speaking on the matter, the Chief Executive Officer, Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said there was partial subsidy on petrol, but noted that the commodity was subsidised by the government for political, social and economic reasons. Full cost recovery But when contacted, the Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, described the positions of economists and marketers as assumptions, and insisted that the Federal Government had stopped subsidy on petrol. President Bola Tinubu had during his inaugural speech on May 29, 2023, declared that subsidy on petrol was gone, a declaration that was effectively implemented the next day by NNPCL. Before Tinubu’s declaration, the pump price of petrol was below N190/litre, but it jumped to over N500/litre after the President’s statement, and moved up again to over N600/litre a few weeks later. Asked to state if the NNPCL, being Nigeria’s sole importer of petrol, subsidising the commodity as posited by dealers and experts, the oil firm’s CCCO replied, “We prioritise our time on substantive matters rather than responding to assumptions. “At NNPC Ltd, we prioritise national development through energy security and sustainable growth. We reiterate that the Nigerian government does not pay subsidy on fuel; we recover full costs from our imported products. “As a global energy company, our focus remains on fostering a vibrant and energy-secure Nigeria.” ‘Subsidy reduced’ Rewane had earlier explained that subsidy on petrol was reduced and not removed, while featuring on a live television programme on Sunday evening, as he further highlighted the effects of the reduction in fuel subsidy and how it was affecting salary earners in Nigeria. He said, “At the inauguration, it was said that (fuel) subsidy was gone but subsidy was actually reduced.” Buttressing his position, he explained, “There is the convergence of exchange rates and reducing the windows into one. The consequence of that is that money has been transferred from consumers to the government. “Subsidies are reversed taxes; if you reduce them, you increase the people’s taxes and reduce their income. What has happened is that government revenue has increased by 44 per cent between May and June (2023). Money has been transferred to the government but what is the government doing with it? “The consumers, on the other hand, had a minimum wage, which in dollar terms was $40 in 2002. In 2019, it was about $70, but it has now been reduced to $24.” Marketers project N1,200/litre The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, stated that subsidy on petrol was rising and that the cost of the commodity should be around N1,200/litre in a free market. “To be pragmatic in this analysis let’s consider the cost of petrol today in the United States. For premium petrol, it is $2.99, while super petrol sells for $3.15 or $3.10 depending on the part of that country where you are making the purchase. “Now, $3 in Nigeria is over N3,000, because a dollar in the parallel market is over N1,000. You can also see the cost of diesel, that is over N1,000/litre, and it is important to state that petrol is usually higher in price than diesel in a free market. “So if you consider the cost of diesel, dollar and other international factors, the price of petrol in Nigeria should be around N1,200/litre, but the government is subsidising it, which to an extent is understandable,” he stated. Ukadike noted that he had earlier explained that the government was implementing quasi-subsidy, and by this it means that “the Federal Government, instead of taking out the subsidy by 100 per cent, decides to take out about 50 per cent.” The IPMAN official, however, expressed optimism again that the cost of refined petroleum products would reduce as soon as the Port Harcourt and Dangote refineries start producing the commodities. “I also believe that there will be a reduction in the prices of petroleum products this year when you consider what the government is currently doing. The coming onboard of the Port Harcourt refinery and the supply of crude to Dangote refinery are good developments in the sector. “Their operations will help stabilise the price of PMS and other petroleum products in Nigeria, because it will definitely cut down the importation of products,” Ukadike stated. Social, economic reasons The Centre for the Promotion of Private Enterprise CEO said subsidy was being retained partially because of its economic, social and political implications. Yusuf said, “To protect the citizens from further hardship is the reason why the government seems to have applied the brakes on subsidy removal. We are all witnesses to the pain and hardship that citizens are going through. “So when you are adopting some of these policies, especially these liberal economic policies, it comes to a point where you have to moderate your position for social reasons. “Just as the World Bank said, if we want to leave the price fully to market forces and the liberal economic policies, the fuel price will be above N800/litre. Can any government that is sensitive to the feelings of its citizens allow that to happen? “Even if economically that is the way to go, there must always be a human face to economics. So what the government has done is to moderate the reform, and that is why I think the government has insisted that the NNPC should still hold the price at the current level.” Yusuf noted that the government must balance the gains and side effects of subsidy, stressing that economic hardship may worsen should subsidy be removed 100 per cent. “All of us who were saying that they should remove the subsidy, we can see that they have partially removed it now, but look at the consequences. Economically it will sound good, but socially and politically it is very costly. “So those in government need to balance all those considerations. They need to balance economic, political and social considerations. That is why we find ourselves in a situation where we have partial subsidies, both in petrol and electricity,” he stated. The World Bank had stated in December that subsidy on petrol was still being implemented by the Federal Government, as it insisted that the cost of PMS should not be less than N750/litre if there was no subsidy. Naira at N988/$ The naira closed at N988.46/$ on the first day of official trading on the Investors and Exporters Window on Tuesday. This is an 8.97 per cent decline from the N907.11/$ it closed trading on Friday (the last day of official trading for 2023) according to data from the FMDQ Securities Exchange. This continues a worrying trend for the naira which was one of the worst performing currencies of 2023. According to Bloomberg, the naira had one of its worst years in 2023, a title that 2024 might usurp. It noted that the national currency lost about 55 per cent of its value as of Thursday 28, 2023. Based on Kyle Chapman, FX markets analyst at London-based Ballinger & Co, the naira was the third worst-performing global currency in 2023 due to a backlog of unsettled forwards, undelivered promises of dollar inflows, and a two-decade peak in inflation. Chapman said, “The naira’s downward momentum is likely to continue through much of 2024, and its ultimate trajectory will depend on whether the CBN’s rhetoric transforms into concrete policy moves that drive up the flow of US dollars into Nigeria and shore up trust in the official market. “If the CBN’s promised measures materialise and Tinubu’s government enacts structural changes to increase oil production or to drive foreign investment, there is plenty of opportunity for the naira to lift from its record lows. But a quick fix is unlikely, and further depreciation will come to counteract supply and demand imbalances.” In its December Nigeria Development Update, the World Bank noted that naira had depreciated against the US dollar by 41 per cent in the official market and by 30 per cent in the parallel market. It noted that the naira needs increased volume to stabilise in the official market. It said, “Further monetary policy tightening is expected to help underpin the value of the naira. However, there is also a need to increase FX supply in the market. Facilitating FX flows, especially from all exports, through the NAFEM can help provide additional volumes in the official window that can help provide stability. “In addition, clarity on the CBN’s net reserve position, and on the CBN’s continued progress in clearing the FX backlog, would also strengthen market confidence.”... https://punchng.com/nnpcl-marketers-clash-over-subsidy-operators-peg-petrol-at-n1200-litre/ 1 Like |
Politics / Re: Remi Tinubu: 2024 Will Be Glorious For Nigerians by Hadeylex: 4:00am On Dec 24, 2023 |
Àwọn olórí burúkú, Tinubu and his cohorts |
Food / Families Face Bleak Yuletide Over Rising Food Prices, Fares, Others by Hadeylex: 6:55am On Dec 09, 2023 |
Food prices tripled, traders expect further rise, fear low patronagehttps://punchng.com/families-face-bleak-yuletide-over-rising-food-prices-fares-others/ 3 Likes
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Politics / Re: Tinubu Dynasty Of Thieves: They Want To Buy A Yacht For N5b - Sowore by Hadeylex: 5:58am On Nov 02, 2023 |
agulion: Mad idiot |
Politics / Re: Tinubu Dynasty Of Thieves: They Want To Buy A Yacht For N5b - Sowore by Hadeylex: 5:27am On Nov 02, 2023 |
atiku4President: I guess you are out of your mind by posting this comment. Even if you are paid to comment positively on Tinubu, at least be reasonable and do it with some feelings. While mllions of Nigerians cannot afford a meal a day, the president who brought the untold hardships to them as a result of the anti-people policies he keeps introducing and his cohorts are living in opulence, yet you can go spewing nonsense. May the hell consume you and all those of you who still praise the wicked sets of leaders who are afflicting innocent Nigerians |
Health / Re: Why Do I Lose My Erection Almost Immediately I Start The In-and-out? by Hadeylex: 3:03pm On Sep 12, 2023 |
BLACKPOWERS123: Ok |
Health / Re: Why Do I Lose My Erection Almost Immediately I Start The In-and-out? by Hadeylex: 3:02pm On Sep 12, 2023 |
GoldSantana: OK. Thanks |
Health / Re: Why Do I Lose My Erection Almost Immediately I Start The In-and-out? by Hadeylex: 4:14am On Sep 11, 2023 |
illicit: No high BP. Thanks |
Health / Re: Why Do I Lose My Erection Almost Immediately I Start The In-and-out? by Hadeylex: 4:13am On Sep 11, 2023 |
BLACKPOWERS123: OK. How actually cheap and reliable are your herbal remedies? |
Health / Re: Why Do I Lose My Erection Almost Immediately I Start The In-and-out? by Hadeylex: 4:11am On Sep 11, 2023 |
carl90: OK. Thanks |
Health / Re: Why Do I Lose My Erection Almost Immediately I Start The In-and-out? by Hadeylex: 4:10am On Sep 11, 2023 |
GoldSantana: I stopped consuming sugar more than a year ago and my weight has not been significantly different more than a year now |
Health / Why Do I Lose My Erection Almost Immediately I Start The In-and-out? by Hadeylex: 2:01pm On Sep 10, 2023 |
For many years now, in fact, more than 20 years, I have never had problem with my erection. I could go on having sex for hours with my erection intact. Even I could have sex multiple times without losing my erection. Recently, however, about 4 months ago, I started experiencing a strange turn in my sexuality. At the start, I could have my erection normally, but just after I start the in-and-out, my manhood will relax and I will lose my erection. It is really embarrassing. This has been happening very frequently the last few months now and I am lost about what to do. Please, I will appreciate if anyone can recommend what I can do. I don't mind herbal therapy. Thanks |
Politics / Re: Tribunal Judgement: Police Warn Against Unguarded Utterances by Hadeylex: 6:26pm On Sep 05, 2023 |
happney65: God bless you for this post 1 Like |
Politics / Re: Wike Orders Task Force To Destroy 500 Impounded Commercial Motorcycles by Hadeylex: 11:17am On Sep 02, 2023 |
emmamajesty: My thought, too. Why not just impose a fine to discourage people from using motorcycles in the capital city? This way, revenue will be generated. It seems majority of our politicians become numb and stupid once they attain power and hence become reckless and thoughtless. I am quite sure 60%/70% of those whose motorcycles were seized are either graduates or trained artisans who resorted to okada business owing to joblessness or lack of capital to start their various vocations. |
Politics / Re: Our 16 Years In Power Were Nigeria’s Golden Years, PDP Boasts by Hadeylex: 3:03am On Sep 01, 2023 |
Even if PDP had ruled for 30 years with the so-called corruption in the party, it would still have been better compared to the 8 years the APC has ruled the country. The APC has, in short, unleashed hell on the country. 2 Likes 1 Share |
Politics / Re: Palliative: The Food Stuff Shared In Ikoyi, Obalende LCDA Lagos State (Picture) by Hadeylex: 1:03am On Aug 23, 2023 |
Jostoman: Don't mind the idiot and paid commentator jare 1 Like |
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