₦airaland Forum

dre11:
https://dailytrust.com/sim-nin-linkage-ncc-gives-update-on-11-2m-blocked-mobile-lines/

onlinestaff247:
I stayed at Orange Market, Nasarawa and later packed to Area C, Nyanya.

Categorically speaking, Nyanya is in Abuja...From Checking point after Nyanya Abuja down is Mararaba - Orange Market - One Man Village - Masaka - Winners Road, all in Nasarawa...Therefore, Nyanya is the last settlement on that axis and it functions like a border before crossing into Nasarawa state.

Opposite Nyanya is Jikwoyi - Karishi - Orozo which is also in Abuja.

I stayed in Abuja for 11 years.

You guys disputing should stop it as I'm an authority on this matter.

oglalasioux:
Google could have helped you but you chose to be emotional. Nyanya is under the FCT not Nassarawa State. Nassarawa state starts at Mopol Junction just by AA Rano filling station. By the way, Nassarawa State is closer to Abuja than Gwarimpa Estate. Don't let the heavy traffic decieve you.

Omooba77:
*Urges FG to curtail crude theft, shore up production
The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has said the decision to float the nation’s currency is the major cause of the hardship, mass suffering, and other economic woes confronting the country, describing it as the worst economic decision-taking by the government.

President of PENGASSAN, Engineer Felix Osifo, in a chat with Vanguard, said people are already projecting that one Dollar will be exchanged for N4,000 before the end of the year because currency speculators are having a free day, contending that no country anywhere in the world floats its currency 100 percent in US Dollars.

According to him, “The removal of the fuel subsidy came with mixed feelings. As of then, our greatest concern was that it was done hastily. We were challenged by the fact that there was no plan in place to cushion the effects of its removal. One of the sectors impacted is the transportation sector. Before going into such a venture, it is right to proliferate everywhere with buses so that the Nigerian masses and students can use such buses for free.


“It would have reduced the high cost of transportation suffered by the people. Today, we can see where we are as a country. The reason why we are facing this difficulty is really not because the fuel subsidy was removed, it is mainly because of the exchange rate. In the last three years, we have shouted that the greatest policy that would affect us greatly if not well-managed is the exchange rate.

“When the exchange rate was N450, if crude oil price was around $75 to a barrel, the landing cost of PMS would have been about N350. That is half of where we find ourselves today and it could have also been better. We are challenged today because that exchange rate keeps increasing over time


“As we speak, everywhere is in chaos. The country is really going south and everywhere, it has been a problem. No country in the world floats its currency 100 percent in US Dollars. That is the worst economic decision-making. Today, we do not earn 100 percent and we have floated our currency. If it is left to supply and demand, speculators will come in. If not for the run around the Economic and Financial Crimes Commission, EFCC, operatives are also doing, which is also not sustainable, we could have got to N2,000. A lot of people are already projecting N4,000 before the end of the year. Currency speculators should not be allowed a free day.


“When a nation floats its currency, it is looking at the parallel or the black market, which has no fundamentals. When somebody has $5,000,000, he decides how much to sell it when another person is there to buy. The CBN or the official rate should not be chasing the parallel market. Those in the parallel market can do whatever they want, but the official rate should be maintained at a single rate. Another thing we can do is increase the supply side. Nigeria is an oil-dependent country.

“Over 90 percent of our foreign exchange earnings is from crude. We must curtail the issue of crude oil theft. We must create incentives for the International Oil Companies, IOCs, to increase their production for the indigenous producers to increase their production and stimulate more production. This is the quickest way for us to earn petrol dollars. When this comes in, it will shore up the supply and we will be able to meet the demand. Speculators cannot be eliminated, they will still be there.



https://www.vanguardngr.com/2024/03/floating-of-naira-worst-economic-decision-pengassan/amp/

Kuginzi:
https://www.channelstv.com/2024/03/04/hardship-fg-to-begin-distribution-of-grains-nationwide/

Ibrahimcoomasie:
The exchange rate between the naira and the dollar strengthened for the third consecutive day, closing at N1,534.9/$1 on the official market. This marks the strongest level the naira has reached in 7 days.

The official NAFEX rate, which serves as the average rate and benchmark rate used by the CBN, was quoted at N1,567.65 on March 1st, 2024.

The intra-day high reached N1,600/$1, while the intra-day low was N1,425/$1.

The official exchange rate has remained below N1,600 since February 28th, indicating a gradual return to stability in the official market.

Why the Naira is gaining
Checks from Nairametrics reveal that the exchange rate last traded above N1,600/$1 on February 28th, when it sold for N1,609.51/$1.

Since then, it has sold for N1,595.11 and N1,548.25 on February 29th and March 1st, respectively, establishing a trend that should reassure policymakers.

The official exchange rate fell to N1,615.94/$1 as the central bank intensified its efforts to combat inflation.

- The apex bank raised its benchmark monetary policy rate to 22.75%, sold over N3 trillion in Treasury Bills and OMO bills combined, and also introduced new guidelines for the operation of BDCs.
- It commenced the sale of forex to BDC operators while also banning over 4,000 operators for failing to meet its licensing requirements.
- CBN Governor Yemi Cardoso also hosted a virtual event with foreign portfolio investors, continuing to advocate for hot money inflows.
- The apex bank also clamped down on the cryptocurrency trading platform Binance, collaborating with security agencies to restrict their operations.
- While it is unclear if these actions are the reasons for the strengthening exchange rate, analysts suggest that a market equilibrium may be emerging.

Forex turnover in the last three days of trading has improved, averaging $250 million per day, up from $160 million per day a week earlier.

- Despite these improvements in the official market, the exchange rate on the parallel market was quoted at around N1,600/$1, according to information obtained from a cross-section of parallel market operators.
- Operators report an increase in demand at the beginning of the week, as more Nigerians looked to buy than sell.
- Nevertheless, this marks a significant improvement from the record low of N1,880 recorded on February 22nd.

https://nairametrics.com/2024/03/05/exchange-rate-gains-for-third-straight-day-on-official-market/?amp=1

Islie:
https://www.thecable.ng/revealed-norwegian-airline-to-provide-crew-aircraft-for-air-peaces-lagos-london-flights/amp?/revealed-norwegian-airline-to-provide-crew-aircraft-for-air-peaces-lagos-london-flights

Islie:
President of Dangote Group, Aliko Dangote, is planning to set up an oil trading firm that would be based in London as part of strategies to help run crude and product supply for his new refinery in Lagos, Nigeria.

This, according to six sources familiar with the matter, who told Reuters on Tuesday that, “the giant 650,000 barrel-per-day refinery is set to redraw global oil and fuel flows and the trading community is closely watching the way it will operate.”

Punch Online reports that Dangote unveiled the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos on May 22, 2023.

The move, according to a Reuters report on Tuesday would reduce the role of the world’s biggest trading firms, which have been negotiating for months to provide the refinery with financing and crude oil in exchange for products exports.

Dangote, whose wealth is estimated by Forbes at $12.7bn, did not reply to several comment Reuters requests as of the time of filing this report.

BP, Trafigura and Vitol among others have met Dangote in Lagos and London in recent weeks to offer loans for the some $3bn in working capital the refinery needs to buy large amounts of crude, trading sources told Reuters.

The traders asked the refinery to repay loans with fuel exports but so far, they have signed no deals as Dangote worries they would reduce his control of the project and potentially his profit, the sources said.

Dangote has also met state-backed firms in his search for cash and crude.

“He is going to try and do it himself,” an industry source told Reuters.

Sources told Reuters the new trading team will be led by ex-Essar trader, Radha Mohan.

Mohan joined Dangote in 2021 as director of international supply and trading, according to his Linkedin profile.

Two sources said the team was in the process of hiring two new traders.

Reuters report further stated that “the Lagos refinery took nearly a decade to complete and it came in at a cost of $20bn, some $6bn over budget.

“The plant has refined around 8m barrels of oil between January and February and will take months to get to full capacity.

“So far, Vitol has prepaid for some product cargoes to help the refinery buy crude, while Trafigura has swapped some crude oil in exchange for future fuel cargoes, sources with knowledge said. Geneva-based Vitol and Trafigura declined to comment.”


https://punchng.com/dangote-plans-london-trading-firm-for-lagos-refinery-report/?amp

Cantonese:
The minimum wage was 125 in 1981. Airfare to London, economy class by British Caledonian/British airways/Nigeria airways roved around 879 naira. It was much easier or affordable to travel as there were different packages for adults/students and children. So you only needed approximately 6 times your salary to purchase your air ticket.

And by the way, that minimum wage had value, unlike what you find today. You could with just one naira, get a loaf of bread/eggs/ororo/cubed sugar/canned milk/tea bag, with change for your breakfast. You could enjoy your favourite cow tail pepper soup for one naira and your Gulder/star beer for 90 kobo. Life was far better.

IBB/Buhari and their group brought this country to its knees systematically from Dec 31 1983, till May 29, 1999.

Man102:
Given the breakdown about the looted items, the trader disclosed that about 711 bags of rice were stolen along with 652 bags of beans, as well as 1,602 bags of sugar.

Gusau, however, added that he was able to recover some of the stolen food items through the efforts of Karmo policemen, who arrived around an hour later in company of other policemen from the Life Camp division, and the FCT Police Command.

“The police were able to recover about 363 bags of rice, 475 bags of beans, and also 1,255 bags of sugar. We recovered them from some household and also the vandal’s hideout,” he said.

The businessman revealed that the food items supplied were meant for Ramadan packages for the less privileged.


https://politicsnigeria.com/abuja-businessman-reacts-as-hoodlums-invade-loot-his-warehouse/

HonNL:
'X' CEO, Elon Musk mocks Facebook, Instagram after experiencing outages.

Sermon1:
How many of us have noticed we can't currently log in to our Facebook account?

Like many have complained of being logged out and not having access to be logged in.

Tell us your experience.

Gistmedia10:
In the midst of their public marital struggles, Israel DMW, a close associate of Nigerian music superstar Davido, has taken to social media to launch a scathing attack on his estranged wife, Sheila. In a series of posts on his Instagram page, Israel DMW didn't hold back, as he blamed Sheila's mother for the breakdown of their marriage.

The controversial posts saw Israel DMW accuse Sheila's mother of meddling in their affairs and causing irreparable damage to their relationship. He did not mince words, using strong language and cursing both Sheila and her mother.

Israel DMW, known for his unapologetic demeanor, made sure to disable comments on the posts, perhaps anticipating the backlash from fans and followers. However, this did not stop social media users from sharing screenshots and expressing their opinions on the matter.

Slytiger:
Reno hits the mark again. He is also right about Peter Obi's tummy filled with Ukrainian wheats from his travel to Egypt.

sukkot:
from online preppers? Yes. But from astrological people ? Most are into feel good astrology. They don’t do heavy stuff. But if you follow those people they call preppers you will get the same gists from them

madridguy:
Can you define terrorism ?

Mateco556:
https://saharareporters.com/2024/03/05/ghanas-central-bank-suspends-forex-licences-gt-bank-first-bank-over-alleged-fraudulent

Dpharisee:
America doesn't want this country to prosper, several US backed coups in the past rendered Haiti poor with terrible US imposed leaders like France is doing in Africa.
Even Hillary Clinton stole millions of dollars donated to Haiti after a disastrous earthquake through Bill Clinton foundation and used the money to run for elections



Its not about skin colour, you don't know much about Haiti, read about how America have frustrated every effort of that country to have peace, do you know that several Americans were part of the assassination squad arrested for the murder of the Prime Minister before they could escape from the country which caused the current lawlessness, there pictures are online just Google it, same thing the US did to Iraq and Libya and next thing your type will blame Blacks and Arabs for current Libya chaos.

If Russia had allowed America to use Ukraine to destroy Russia you will blame Russians for not being able to rule their country?

voiceofpaul:
Discover the gripping tale of Haiti's upheaval as gang leader 'Barbecue' challenges PM Ariel Henry's rule, plunging the nation into chaos. With violence erupting and tensions escalating, delve deeper into the unfolding crisis gripping this Caribbean nation.

SOURCE: https://voiceofpaul.com/unrest-in-haiti-gang-leader-threatens-country-against-kenyan-police-deal/

panafrican:
The border is in a village.

fergie001:
Behold the face of Aketi's niece, Funke Akeredolu Aruna, the former deputy chief protocol to Aketi, shamelessly parades as "I'M LUCKY ". Bloody serpent 🐍! Time will tell if she is truly lucky!


SOURCE

seunmsg:
Dear Betty,

Your husband is dead and your link to Ondo state politics is over. If you are still interested in politics, go back to Imo state and hustle with your people. Leave Ondo state politics alone for the people of Ondo state. You had your time and it's over. This is Lucky's time. Let the governor of Ondo state be.

Gistmedia10:
In a desperate scene highlighting the severe food insecurity gripping the nation, a group of hungry Nigerians raided a truck carrying food items in Abuja earlier today. The incident occurred on the outskirts of the city, where the truck was transporting a supply of food items.

Eyewitnesses reported that the truck, which was on its way to deliver the much-needed food items, was ambushed by a crowd of people. In their desperation, the individuals forcefully opened the truck's cargo hold, taking bags of food items.


https://www.youtube.com/watch?v=-_4x82KlyGA

adamusuleiman1:
Reno's reply 👇

It is very ignorant for Peter Obi to say that it is a "national disgrace" for Nigeria to receive food aid from Ukraine because it is a war-torn country. Peter Obi needs to be educated about Ukraine and wheat. Please fact-check me: Egypt received food aid from Ukraine long before Nigeria did. And Egypt is still dependent on Ukraine for 60% of its wheat and much of its fertiliser needs. Yet, Egypt is a country that Peter Obi praises. Obi even went to Egypt to study their economy. The attached photo was taken when Obi was visiting and praising Egypt. In fact, Obi is looking well fed in this photo. Maybe the Egyptians fed him a lot from the wheat donated to them by Ukraine.

It is not everything that we must politicise. Ukraine is the world's seventh-largest wheat producer, and the war in Ukraine has not affected her position. The whole world was affected when Ukrainian wheat could not hit the market, and the World Trade Organisation, led by a Nigerian, helped to organise a deal with Russia that allowed Ukrainian wheat to get to countries like America. Please Google it. Ukrainian wheat is not only bought by America but it is also being used as food aid to multiple countries. Obi should stop politicising hunger!

Burob:
That The Ukraine that has excess grain gave some to Nigeria? Please clear your ignorance.
https://foreignpolicy.com/2023/08/01/black-sea-grain-russia-ukraine-africa-hunger/

Ibrahimcoomasie:
Previous post of Peter Obi:
https://www.nairaland.com/8019867/now-rely-war-torn-ukraine-food

Tolu Ogunlesi's reply:

. Disheartening that @PeterObi wants to make himself a disinformation agent by all means. Distorting narratives, omitting crucial info, ignoring solutions.

2. The WFP statement clearly says it’s a UN humanitarian intervention specifically for North East Nigeria. (SCREENSHOT 1), which as you might know, is slowly emerging from a devastating insurgency (Thank you to the Nigerian Armed Forces etc for degrading BH and ISWAP).

3. So, that grain is going directly to the most vulnerable people IN THE NORTH EAST. And the UN has been involved in humanitarian assistance in that region for many years now. It’s not new.

4. The same UN and other parties provided substantial assistance to Anambra State after the devastating 2012 flooding - so I’m sure you, Mr Peter Obi, know what “humanitarian intervention” means. You were Governor then. (SCREENSHOTS 2 and 3)

5. Have a sit down with your Twitter handlers, endeavor to Google before posting, and stop playing ignorant politics with everything.

6. At the same time as this donation is happening, Nigeria is getting set to harvest dry season wheat that was farmed in Nov 2023, in a program supported by the AfDB. (SCREENSHOT 4)

7. It’s still early days, and there’s a long way to go, but if you want to talk about food security in Nigeria, and you cannot acknowledge the increasing focus on domestic wheat (and other grains) cultivation, then you’re merely a malicious political actor, seeking cheap attention on social media.

8. Also, Google “Grain from Ukraine” Initiative to better educate yourself. mfa.gov.ua/en/grain-ukrai… Ukraine has historically been one of the world’s biggest grain exporters, and this thankfully manages to defy the Russian invasion. Are there lessons Nigeria can learn? Most definitely! Is Nigeria making efforts to grow more grain? Most definitely! Thank you AfDB and other partners.

amoreobansu:
https://dailypost.ng/2024/03/04/revolution-has-started-aisha-yesufu-on-looting-of-truck-carrying-food-items-in-abuja/

HonNL:
SOURCE