₦airaland Forum

Exchange Rate for B Pound-Naira, 2nd Tuesday December 2015

http://www.nairausd.com/2015/12/exchange-rate-for-b-pound-naira-2nd.html?m=1

Exchange Rate Of Dollar To Naira,2nd Tuesday December 2015


http://www.nairausd.com/2015/12/exchange-rate-of-dollar-to-naira2nd.html?m=1

ironheart:
thanks for the heads up

Nice

TonyeBarcanista:
Thanks for the info...

You are welcome

Cc .TonyeBarcanista

This is an important information, rules, roles, directive etc.

For now (currently) as CBN impose rule to it suppliers (BDC operator).

1.In Market Chain



CBN. = Manufacturer(only 1 producer in the country)

ONLINE
BANK. =WHOLESALERS
BDC operator

PARALLEL operator (A.K.A BLACK MARKET)=RETAILER

YOU. =Final consumer

2. CBN only sale once to a BDC operator no longer twice as before a week.

3. For a consumer to buy from a BDC operator, he/she need to come with his/her following documents.
A. BVN NUMBER
B. Valid International Passport
C. Current Visa
D. Current Ticket

4. To calculate the actual price of a BDC operator is like this.
3.5% × CBN Rate +CBN Rate.
Example.
CBN rate for $1=N197
While BDC will be calculated this way
3.5/100 ×197 +197
6.895 +197= 203.895
But no BDC operator will sell it to you that way.

5. After a BDC operator stamp your passport, it takes 3 month before it expire.

6. BDCs operator have a strong union plus good relationships with CBN

7. CBN also know the reason for your trip if you are genuine.

8. BDCs operator play a major role in exchange market.

9. Though there are due process but it reliable and safe

10. Information is power don’t be deceive and make enquiry

Nigerians be wise

Written by IfyAn

Source:http://www.nairausd.com/2015/11/current-information-consigning-bdc.html?m=1

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Exchange Rate Of Dollar To Naira,1st Tuesday December 2015



http://www.nairausd.com/2015/12/exchange-rate-of-dollar-to-naira1st.html?m=1

abouzaid:
story for the gods, the simple truth is that exchange rate is determined by demand and supply. we export almost only oil and import almost everything including tooth picks. to worsen the matter, buhari left the economy in auto pilot for six months at a time our major export been petroleum is experiencing a fall in price. uptill now, this country does not have a clear cut economic policy and you expect progress? he who fails to plan has already planned to fail. stop blaming imaginary corruption by bdc's, ask yourself, why are importers not buying from banks at #197

I agree that exchange rate is determine by demand and supply but the high price rate greed also play a major role

Papertrail11:
bros dey are the real reason for the depreciation. ...cos dere neva seems to be any fall in exchng rate nd dey can bring dis argument dat heyyy dere is soo much demand for dollar evn wen dere is not

If you truly know the role BDC play, because what a PARALLEL OPERATOR would have done. Sorry.

Chukzyfcb:
Uhmm actually you are wrong! The CBN sells dollar to these bureau de change and give them instruction to sell @ 8% spread. Let's do the math: Let's do the maths
3.5% of 196.95 = 6.89
196.95+6.89= 203....which means;
Bureau de change are not supposed to be selling dollar more than 203 ,yet they keep selling to pple at a rate 240naira = $1 and above......I dunno if its in economics Textbooks but I do Know that GREED is one factor behind INFLATION,lol

You are totally right at that figure (3.5% of CBN RATE ) but if you understand the game you will buy Dollar from a BDC operator at N219 while PARALLEL operator at N240.

If you know how much CBN SELL to Wholesalers, your mouth will be wide open.

Greed plays a more role in the system

omooba969:
The bureau de change biz is good for the local economy just as we have them in developed countries.

Nice for that.

MARKET CHAIN

CBN (1) =MANUFACTURER

BANK
ONLINE. =WHOLESELERS
BDC

PARALLEL (BLACK MARKET)=RETAILERS

CONSUMER=Customers(You)

omooba969:
The bureau de change biz is good for the local economy just as we have them in developed countries.

Nice for that.

Business chain

CBN =MANUFACTURER

BANK
ONLINE. =WHOLESELER
BDC

Papertrail11:
my opinion is for govt to cancel that nonesense calld bureu de change dose pple are like malware virus or malware virus causing us to go one steo forward 4 step backwards......why should a citizen of a country go throughh so much stress juss for him to buy dollar or pounds why shouldnt this transaction be conducted strictly by banks and managed by cbn by that nobody can savage the efforts of the financial institutions cos yu will hear banks peggn exchng rate to 199 Northerner malams doing deirs at 290 as if its not the same dollars

Don't blame someone but the the human associated with NIGERIA (NIGERIAN) because we misuse everything when given the opportunity.

CBN are fighting a tough fight up there if you don't know the disease called CORRUPTION which is eating up the system.

Try and understand

Olasco93:
There is no foreign contry in the world that Insults her leaders the way 'some' Nigerians do. Who are you to judge

Why you.

Remember the previous administration.

bigtt76:
You need to know the number of people shopping online NOT on Konga and Jumia BUT online stores in the US and UK from Nigeria. Most banks have now limited your foreign transaction limit to $1000/month na that go bolster our currency? Na waaa for you o!

Where is such thing as bank limiting international transaction to $1000.

Stop propagating false news

centvin008:
Traders at the market said that in spite of the [/b]biweekly sale of forex to Bureaux de Change (BDC’s)[b], the currency of the biggest economy in Africa continued to slide.

I think there is a mistake somewhere. It no longer TWICE a week but ONCE a week based on the new CBN directive.

Neyova:
I honestly agree with fayose on this!!
All he said was on point.. How I wish we had about 3 fayoses in nigeria


A government based on fatuous mantra and empty redundant speeches

True talk bro

APC = FOUNDATION BUILTH ON LIES

Foundation built on lies

Should I say love this or supported

Tallesty1:
The man is so Jealous of his 6 packs that he covered them with many belly fats.

You wicked

Seriously business are not having a good time this period

chocolateme:
I believe it in my dream.

Meaning

Sunday Aborisade, Abuja

The Senate on Thursday asked the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to end the current scarcity of petrol within two weeks.

The upper chamber also directed the Permanent Secretary of the ministry, Mrs. Jamila Soara, and heads of other agencies in the sector to ensure steady supply of the product in all filling stations across the country at the approved pump price.



Specifically, the Red Chamber threatened stiffer penalties against any Federal Government agency that failed to ensure that petrol, when supplied, was sold at a uniform price all over the country, as against the current discrepancies in prices in different parts of the country.

The Chairman, Senate Committee on Petroleum Downstream, Senator Uche Ekwunife, stated this while addressing officials of the ministry, Nigerian National Petroleum Corporation, Pipelines and Product Marketing Company, Petroleum Products Pricing Regulatory Agency and others, who came to explain to the committee the reasons for the persistent fuel scarcity.

The Senate had on Tuesday mandated the committee to urgently examine all the issues associated with the current scarcity of petroleum products in the country.

It was also asked to determine how the legislature would collaborate with the executive arm of government to bring lasting solutions that would prevent future fuel scarcity in the country, and report back in two weeks.

The directive followed a motion brought to the chamber by Senator Barau Jibrin and co-sponsored by 23 others on the need to urgently resolve the current fuel supply crisis.

Addressing the heads of the agencies, Ekwunife noted that what Nigerians needed now was an end to the problem and not to listen to stories from stakeholders.

The Managing Director, PPMC, Mrs. Esther Nnamdi-Ogbue, told the committee that the major problem disrupting fuel distribution in the country was vandalism of oil pipelines by criminals.

She noted that Nigeria lost about 531 million litres of petrol valued at N50bn to vandals between January and September this year.

Nnamdi-Ogbue also explained that sharp practices at petroleum products’ depots such as illegal charges and diversion of fuel by marketers were some of the factors that provoked the current scarcity and discrepancies in the pricing of the product.

She added that the sharp practices amounted to economic sabotage.

Nnamdi-Ogbue also explained that the PPMC had gone into collaboration with the Department of State Security and the Police to tackle the high level of sabotage in the sector.

She said the oil marketers were hoarding fuel, while security agents appeared helpless in the protection of pipelines.

The Executive Secretary, PPPRA, Mr. Ahmed Farouk, said the N413bn subsidy arrears requested for approval by President Muhammadu Buhari from the Senate had been underestimated by about N2bn.

According to Farouk, the outstanding subsidy payment for 2014 is N120.5bn, while that of this year is N294.4bn so far, making a total of N414.9bn.

He noted that the government was bringing in petrol at a landing cost of N100 per litre, while selling to consumers at N87 per litre, thereby subsidising the product with N13 per litre.

Soure:http://www.nairausd.com/2015/11/end-petrol-scarcity-in-two-weeks-senate.html?m=1

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Exchange Rate Of Dollar To Naira,27th Friday November 2015


http://www.nairausd.com/2015/11/exchange-rate-of-dollar-to-naira27th.html?m=1

May God help us

By Michael Eboh

The oil and gas sector contributed N1.942 trillion to Nigeria’s Gross Domestic Product, GDP, in the third quarter, Q3 of 2015, according to a data by the National Bureau of Statistics, NBS.



Giving a breakdown, the NBS in its GDP Q3 2015 report, said the Crude Petroleum and Natural Gas sub-sector accounted for N1.845 trillion, rising from N1.614 trillion in Q2 2015, and also an improvement when compared to N1.826 trillion recorded in 2014.

On the other hand, the Oil Refining sub-sector, under the Manufacturing sector, accounted for N81.93 billion, compared to N28.545 billion and N92.55 billion recorded Q2 2015 and Q3 2014 respectively.

The contribution of the Crude Petroleum and Natural Gas sub-sector, according to the NBS, represented 10.27 per cent of the country’s total real GDP, and is an improvement on the N1.614 trillion recorded in Q2 2014.

The NBS attributed the improved contribution of the sector to a significant rise in crude oil production in the period under review, compared to oil output in Q2 2015.

According to the report, in the period under review, preliminary data on oOil production reflects output of 2.17 million barrels per day (mbpd) up from production in Q2 2015 by 0.17 mbpd.

“Oil production was also marginally higher in the corresponding quarter in 2014 by 0.02 mbpd when output was recorded at 2.15 mbpd,” the report said.

The NBS further said that the contribution of the oil and gas sector to Nigeria’s GDP in Q3 2015, reflected an increase by 1.06, year-on-year, higher by 4.65 per cent points from the corresponding quarter of 2014, and higher than the Q2 when growth declined by 6.79 per cent.

The report continued: “Quarter-on-Quarter, growth also increased by 14.35 per cent. As a share of the economy, the oil sector represented 10.27% of total real GDP, down from the shares recorded in the corresponding period of 2014 by 0.18 per cent points and up from the share in the Second Quarter of 2015 by 0.46 per cent points.”
Generally, the NBS said that Nigeria’s GDP in Q3 2015, grew by 2.84 per cent (year-on-year) in real terms, higher by 0.49 per cent points from growth recorded in the preceding quarter, yet lower by 3.38 percentage points from growth recorded in the corresponding quarter of 2014.

It also added that quarter on quarter, Nigeria’s real GDP increased by 9.19 per cent.

Source:http://www.nairausd.com/2015/11/petroleum-contributes-n194trn-to.html?m=1

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Exchange Rate Of Dollar To Naira,26th Thursday November 2015

http://www.nairausd.com/2015/11/exchange-rate-of-dollar-to-naira26th.html?m=1

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By Franklin Alli

The Regional Chief Executive Officer of Dangote Cement Plc, Arvin Pathak has disclosed that Nigeria is losing$1.5 billion (about N296 trillion) annually, due to poor condition of roads.



Deplorable state of Enugu-Onitsha-Expressway
Pathak, an engineer, presented his paper during a session on ‘Transport System as a Backbone for the actualization of National Integrated Infrastructure Master Plan (NIIMP): Strategies for

Implementation,’ held in Akure.
He gave a vivid picture of the state of Nigerian bituminous roads constructed few years ago as opposed to concrete roads in the USA and India which have been constructed over 80 years ago and still smooth.

He said roads play very important part in nation’s infrastructure development and well-designed concrete roads required little maintenance over 40 year design lives.

“Using concrete roads will result in less fuel consumption and less emissions. Small percentage reduction of life time energy use associated with road will have significantly positive implications on sustainable development. Concrete roads are durable and safe. Less prone to wear and tear and low maintenance requirements is one of the principal advantages of concrete roads.”

Urging for a new policy that will accommodate the use of concrete for roads in the light of the defects of bituminous road and its attendant strain on the nation’s lean economy, the Dangote Cement boss, said the country will free itself of frequent maintenance and overlay repeatedly increase cost and cause inconvenience to users.

According to him, government would find out that Concrete road is the way to go because of easy availability of indigenously produced cement, uncertainty about bitumen availability in future.

He added: “Present cement capacity in Nigeria is around 41 million ton per annum while the expected demand of cement is 20 million in 2015. The capacity of cement plants under construction is 8.5 million ton per annum. Also there is adequate quantity of cement of international quality is now available within the country.

Another Speaker, Engr. Ali Kashim explained that the intervention by Federal Road Maintenance Agency (FERMA) could not achieve the desired result because the roads that it was to maintain were already failed and needed reconstruction and not maintenance.

Earlier in his address during the opening ceremony, President Muhammadu Buhari who was represented by the Secretary to the Government of the Federation, Babachir David Lawal, lauded the roles being played by the engineers and that his government would work closely with them and other professionals to achieve the desired change promised by his government.


Source:http://www.nairausd.com/2015/11/poor-condition-of-roads-costs-economy.html?showComment=1448527080853&m=1

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