₦airaland Forum

Islie:
https://www.thecable.ng/sources-petrol-price-hike-looms-as-nnpc-halts-naira-for-crude-deal-with-local-refineries/

Ankakh:
Very rich of Justice Alito who has been implicated for being very partisan and more importantly, embroiled in financial improprieties.

These are not new contracts. They are fulfilled contracts. And these agencies have to be paid.

Congress approved those funds for that cycle and it has been used for the purposes designed for it. Those people should be paid.

And once that's settled, it's left for the new administration to choose the direction they want to allocate funds. How difficult is that?

en0uwem:
"... and pay out nearly $2 billion in foreign assistance funds to nonprofit aid groups for work already completed on the government's behalf."

Emphasis on work already completed

Gboss247:
Profitable with secret subsidy

Felixv:
easy profits for the importers..dangote has to further reduce the price of pms and his other products to make the imported fuel less competitive

tollyboy5:
BusinessDay

nightsaint:
What happens when all those are not living?

KingAzubuike:
Wrong.
Its supposed to be the immediate younger brother of the late father.

A situation where the late father doesn't have a younger brother, his immediate elder brother should stand. If he doesn't have then his father should stand.

Flye:
You are right but make use of the small opportunity given unto u, no matter how small it is. This is typical parable of talent in the Bible. Given excuse for not taking a good step is not acceptable.

Flye:
Nice development, this is the kind of competition I expected to see within different states and region in Nigeria, unfortunately we value destructive competition, we prefer religious rivalry, support insecurity because it gives false sense of ungovernable nation or unstable Nigeria etc.

Let the wise group keep developing even at the snail pace and the unwise keeps destroying their own for any reason, it will all accumulates to be something.

OriOko88:
The early bishops of the church established church schools by founding the monasteries. Those monasteries were later converted to universities and colleges by the church. Read up about history of Oxford University

Mindlog:
REAL.

OriOko88:

America and USA used Christianity to better their lives. They used Christianity to advance their societies technologically. They used Christianity to seek early education,thru establishment of early universities like Oxford and Bologna universities.

But we Africans failed to smell their coffee,we are still stuck in theory of ''christianity is a scam and all that bullshits,instead of using it to our advantage like the Europeans. Shoiir

Mindlog:
He is right on that, in as much I also I work with teenagers struggling with gender dysphoria.

AerialMapper:
Really? And the way to compete with a private refinery is for the NNPC to import? Let's not forget that they have 2 functional local refineries ooo...
Let's also not forget that till tomorrow, we do not have an accurate daily consumption figure for petroleum products.. So basically they are importing a product that we have an excess of locally!

Secondly, it is the local refinery that has been dictating lower prices. They reduce and NNPCL follows to the point that the importers are losing money. What happens next is they introduce subsidy so they can compete against Dangote so that monopoly something something.... Let's not keep deceiving ourselves... Like I said... They are not doing it for you to have fuel... They are doing it to put money in the pockets of people

persius555:
Trump won't like this. The Europeans might not have the luxury of sanctions that the US has but one thing the Europeans are good at is backstabbing.

God1000:
https://www.reuters.com/world/france-germany-italy-uk-back-arab-plan-gaza-reconstruction-2025-03-08/

Idaytesj29:
The cause of the death of Ukrainian kids is Zelensky

Vergovert:
Way to go!


USA era is gone.

It's now Russia time to safeguard the world.


God bless Nigeria!

God bless Russia!


And God bless the world!

helinues:
Good

Nigeria is a friend of all nation

eyesoflagos:
Special Spesh is on a winning streak! The hypeman and close associate of Afrobeats superstar Davido has just added a fifth house to his real estate collection in the United States. Eyes Of Lagos reports,

This comes just months after he celebrated purchasing two homes in November. Now, he’s back with another major flex, sharing his excitement with fans as he proudly displayed the keys to his latest property.

Taking to social media, Spesh posted a series of photos showcasing the new house. He also shared snapshots of himself signing official documents, making it clear that his real estate empire is growing fast!

In his caption, he couldn’t hide his excitement:

“New House 🏠 alert!!! 📌 Another 1!!!! Swipe !! 💸💰💳🏦 Real life #monopoly in full effect!! #Goat God Over All Things!!! #WhatGodCanNotDoDoesNotExist!! #5ive #BeThereStill #BigMoves I will teach and guide you!! #30BG”

Of course, his big bro Davido was right there to celebrate with him, jumping into the comments section with a playful yet supportive message:

“Dia fada!!! Put me on bro.”

Fans and celebrities also chimed in with congratulatory messages:

🔥 @aphricanace: “Spesh way!! 🔥🔥 congrats bro…next one gotta be in Houston o…you know #AgbaRealtor @damitherealtor got you 💪🏾”

🔥 @tontolet: “Congratulations 🔥🔥🔥”

😂 @donchilo6: “I don Dey fear you ooh 😂😂😂 congratulations 🎊”

✌🏾 @fidafada23: “One of them houses 🏘️ in case if you don’t know congratulation, bro ✌🏾❤️🙏🏽”

Special Spesh is proving that hard work and dedication pay off! What do you think about his latest achievement? Drop your thoughts in the comments!

https://eyesoflagos.com/2025/03/07/davidos-hypeman-special-spesh-acquires-5th-house-in-the-u-s-fans-react/

donself9:
Gradually it will spread around, what my babe bought to the house yesterday we noticed some decrease,

we just hope the excesses will last long becos these traders are not selling cheap becos they love it that way naa condition

Ebubu:
Imagine Trump openly declares Azylum for Nigerians like this


Lagos for the first time in its life will literally be empty

BTW, if I had SA national passport, I'd be relocating to USA straight away.

Blazetrailer:
lol....interesting. I am wondering why you cant see the fallacies and contradictions in your post below.

You said so much but conveyed little. Simple question...... what led to the crash of the Naira and what made it surge past the N800/$1 after June 2023? I hope you would not mention the pent up demand, because all of that have been cleaned up now

Again, to assume that what Tinubu and co did in 2023 was just to simply allow for unification of the exchange rate is completely insular. That is the most infantile and the poorest thought out economic decision anyone has taken in nearly 20-30 years(after similar blunders by Thailand/Indonesia/Argentina) that will be a case study in geopolitics/economics many years to come. it was a simple devaluation(IMF March 2024 Report/Reuters November 2023). Who does allow for a "floating" of his own currency in an economy with so much local currency in circulation, with an above the sky aggregate demand for forex and a highly obtuse elastic sensitivity of the economy to the slightest increase in exchange rate, especially where USD is the dominant currency even in Nigeria. That was why their 800/700 estimation(announced as the true value of naira many times by Wale Edun, Cardoso and co) became a fallacious dream. It was gamble gone wrong. Even Japan, with all its developments and export capacity spends $billions every year propping up its currency to fight back the effect of the ASEAN tigers incursion into its turf for exports to the US.

In any case, we are back to to the dual exchange rates with the parallel market still thriving with a premium despite the unification. The funny part is that the dual exchange rate is ably encouraged by the CBN after so many policy blunders and somersaults. The gap is growing and if the economic dynamics remain the same for a few more years, we might see the gap between the so called official FMDQ rate and the parallel market rate growing further and further closer to what it was two years back. Additionally, capital flight has increased massively through the Fintechs(not sure you had an idea of how much moves out of Nigeria daily via these sources)


It has also been proven by IMF analysis(November 2024) that the currency devaluation had more potent effect on the GDP that the subsidy removal. The subsidy removal exacerbated inflation quite rightly, but the fact that companies that need forex to bring in machineries, critical spare parts and other raw materials suddenly seeing that they cant afford such and closing down operations instead, had a far more devasting effect on the economy than the subsidy removal.

Finally, I dare say, Emefiele might have had his faults but he remains a far better manager of the CBN and the economy than the ones we have currently. There was a need to defend the local currency and manage capital flight in an economy that was blowing hot on foreign currency dependency and bursting at its seams with local money circulation. His policies towards the end of 2022 were fantastic just that they came a little too late and political meanings were read into it. In any case, the current Administration is toeing some of those policies, especially that of defending the Naira with foreign reserves(too late). I am no supporter of Emefiele but to throw away all his policies as failures while embracing the brazen and unfettered mediocrity we are currently experiencing under this administration is double standards, especially when all interventions by Cardoso and co seem not to be working and they are retracing their steps back to some of Emefiele's policies

It appears you are ready for an intellectual discourse(a rarity on Nairaland) and I am happy to engage further, but can you help start with the stories of the false foreign reserve because I know a lot of people jumped on that sensational news then but failed to go an read the joint auditors report of JP Morgan and Goldman Sachs where they stated that their component auditor made an assumption on the Nigerian foreign reserve that was found to be wrong. Please provide your full, credible and un-refuted report of the falsified foreign reserve and I will be glad to engage further here or online or offline.

FBIBOT:
Using storage as an excuse won't hold using Nigeria as a case study... Because even when the product is supposed to be abundance in supply and be cheap they deliberately hoard (store) it to influence price to an unreasonable amount.... Imagine buying a tuber of yam for 6k..... Is storage just a new factor? Of Cos it been a Major factor before Which is already considered B4 deciding the market price

maestroferddi:
Abeg where the price crash?

I wan go buy from there...

FBIBOT:
Greed.... This is the major problem in Nigeria market especially foodstuffs.... Deliberately make it scarce (hoard) increase price

zero8zero:
https://guardian.ng/news/hoarders-lose-as-food-prices-crash-by-40/

Blazetrailer:
A lot of you still get it wrong

The more potent killer of the economy was not the subsidy removal it was the devaluation of Naira

wink2015:
NEDA IMASUEN.

That Bini man, Edo state people are waiting for him.

He will come to Edo state and the people will deal with him.

He got cheap votes due to the wave of the Obidient Hurricane.

Now that Obidient Hurricane has come and gone.

Edo state people will do him chege !

He can not come home to canverse for vote.

There is no development in his constituency in Edo South.

He is in Abuja misbehaving.

His Majesty, the Oba of Benin is closing watching him as he misbehave in the Hallowed Chamber.

Neda Imasuen is a disgrace.

Tflex01:
Chief Whip: Sit here

Natasha: I won't

Chief Whip reported to the SP (Akpabio)

SP to Natasha: Please obey the Chief Whip

Natasha: No. I am not afraid of you.

SP: Okay

Natasha raises hand to speak during plenary.

SP: You will only be recognised on your new sit. You can't contribute to this plenary until you go to your new sit.

***wahala burst*** Natasha ranting**

Natasha the following morning on a Popular TV station: SP sexually harassed me. He's victimising me because I refused to sleep with him.

Some clueless Nigerians and SP haters: "He's guilty", "he must be punished", "He must step down", "Natasha is fighting for all Nigerians"....

Me: 😂 😂 😂

This country na pure cruise. 😆

Obaaderemi2:
The improvements are just starting. We shouldn't talk out of hatred for government all the time.
Food prices are actually coming down and fuel prices too. A kg of gas used to be 1300 in my neighborhood but has come down to 1050.
It's a slow and gradual thing.

Take the example of Argentina. When Millei took over the same time as Tinubu , he cut down on subsidies and devalued the peso from about 80 to a dollar to about 800 to a dollar, far worse than Nigeria's case. They called him Chainsaw Milei. Inflation rose to over 200% in Argentina. But the government could cut down on debts and save money. Today Argentina is inching up again.

Those who are educated should stop talking like illiterates. You can not continue to use 95% of your revenue to service debts and think you would not default and crash your economy in the nearest future. Some people think Jonathan and Buhari were actually our friends. They were our biggest enemies