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Politics / Re: I Will Be Traveling To OYO STATE But Scared Of My Safety by LegendHero(m): 3:19am |
Raskimonojendor: Na true o. Only God know the watery beans Eze Kirikiri is eating tonight. 2 Likes |
Politics / Re: I Will Be Traveling To OYO STATE But Scared Of My Safety by LegendHero(m): 3:14am |
Sha no carry IPOB terrorism enter Oyo state. Ibadan people don’t romance terrorism, I don’t want to the RIP for anyone on Nairaland abeg. 2 Likes 1 Share |
Politics / Re: "Who Will Tell The President?" By Laolu Akande by LegendHero(m): 2:17am |
He should send Prof. Osinbajo to tell the president. We will appreciate that. |
Politics / Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 2:14am |
Kukutenla:I am not shutting down different opinion, infact I am just giving another side of the argument. What you don’t seem to understand is that Naira itself is an overvalued currency. It is a product of false speculation and that FX market is riddled with corruption and inefficiency. If something is overvalued, that fundamental backing you talk about can be something as simple as structural change which Cardoso has embarked on which includes, repositioning the BDCs, paying off backlogs, mopping up excess cash, FPI, regaining IMTOs trust, and increased diaspora inflow. Infact Dangote refinery is also a positive on the side. So if you don’t see all this but instead fixate on increase production, then you might miss the point. If after Naira finds its true level and Cardoso then continue to overstretch, then we can now say something else. And I don't know what you mean by clearing ways and means. What's that? I'm certain it's not from the one from Buhari's era cause it has been securitized.I am taking about the 4.8trillion that was used to settle part of the way and means. They used part of the treasury bills and bond. Its like borrowing to repay borrowing. https://nairametrics.com/2024/04/09/fg-spends-n4-83-trillion-from-bonds-treasury-bills-to-settle-borrowing-from-cbn/?amp=1 You don't know how to read data. You can see the slump started after 2008 when there was drop in oil and it continued downwards but stopped in 2011 and started an upwards trajectory after 2011 when oil price rose. Note that your figures for revenue are not correct as I pointed out to you in the earlier trend. But even at that, it's easy to read between the data and see the relationship if you're familiar with trends analysisI don’t understand what you are talking about here. I have told you times without number that you must factor both crude production and the price when looking at this. You can’t use one data point because it won’t give the whole picture. Oil could sell for $40 and production is 1.5m barrels averagely, this will be more revenue for us compared to when oil sell for $50 and production average 1m barrels. Calm down and re-check the trend again and come back to correct yourself on this. Lastly, did you watched Cardoso interview today? The man himself said FX reserve movement is normal and that they have several obligations to fulfill which was why there is a slight difference. He mentioned that they got like $600m yesterday and in few days, the reserve will show the growth. Nothing like defending the naira because he clearly said the amount given to BDC as intervention is very small compared to the official market. |
Business / Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by LegendHero(m): 10:57pm On Apr 17 |
tollyboy5: Oil dey your head brother. |
Business / Re: It's Not Our Intention To Defend The Naira - Cardoso Speaks On Foreign Reserves by LegendHero(m): 10:22pm On Apr 17 |
Nice one. He clearly said toward the end of the video that CBN is not defending any naira and that the shift witnessed in the FX reserve is normal. He even said the FX reserve will increase in the coming days as they have $600m that entered. God bless Cardoso. 9 Likes |
Politics / Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 8:11pm On Apr 17 |
Kukutenla: How many month of data do you have to accurately predict the average rate of the FX reserve for 2024? —In January 2nd of this year, the gross FX reserve stood at $33.02b —in April 15th of this year, the gross FX reserve is $32.2b Tell me who in their right senses will now be writing all this hogwash news about FX reserve depleting. Depleting by how much considering the amount of backlog and way and means Cardoso had to clear? @the bolded, you clearly don’t understand data interpretation. 2011 was the year we earned the highest amount of revenue from crude oil sales (Oil price & production output). Why then did the FX reserve dip to $33.5b on average during that year? 1 Like
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Politics / Re: Rise Up To The Occasion, Don't Fall For Wike's Trick - Secondus Tells PDP by LegendHero(m): 7:27pm On Apr 17 |
Blossomcresty: Even ELupee is a finished party. If NLC catch you, you go know what’s up. 4 Likes |
Politics / Re: Rise Up To The Occasion, Don't Fall For Wike's Trick - Secondus Tells PDP by LegendHero(m): 7:24pm On Apr 17 |
Who is Secondus? Wike is the only authentic leader of the PDP. He shall anoint the next chairman abi na acting or anything they call am. Atiku should swallow his pride and go and apologize to Wike for peace to reign in PDP. God bless PDAPC. 3 Likes |
Business / Re: Naira Gain At Official Market, Close At ₦1072.74 To The Dollar by LegendHero(m): 7:23pm On Apr 17 |
immortalcrown: How am I crying? Don’t you see I am happy that naira is gaining which explained why I created this thread? Oh I forgot, you’re a disciple of that 3rd class olodo called Peter Obi. I heard Obi is exchanging his own dollar at $1 to N1, abeg you fit help me change $500? 8 Likes 1 Share |
Business / Re: Naira Gain At Official Market, Close At ₦1072.74 To The Dollar by LegendHero(m): 7:22pm On Apr 17 |
predictor1: They are currently confused. I don’t know how one will be purposely praying for bad thing that will also affect them negatively. How can you be angry that naira is appreciating when it will eventually lead to more purchasing power for you when the price settle at the market. This their own brand of opposition is a danger to society. 11 Likes 1 Share |
Business / Re: Naira Gain At Official Market, Close At ₦1072.74 To The Dollar by LegendHero(m): 7:14pm On Apr 17 |
immortalcrown: Why are you crying? Did Aisha hushmummy not tell you to keep your dollar close? What’s your business with APC and the rate? —Naira increase in value, you cry —Naira decrease in value, you weep What exactly do you want? It was almost $1 to ₦1 in the 60s, when are you asking when Tinubu will make it 1:1? 11 Likes 1 Share |
Business / Naira Gain At Official Market, Close At ₦1072.74 To The Dollar by LegendHero(m): 7:10pm On Apr 17 |
Naira gained today at the official market as it closes at ₦1072.74 compared to closing rate of ₦1142.95 yesterday. https://fmdqgroup.com/exchange/ 10 Likes
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Politics / Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 7:06pm On Apr 17 |
NothingDoMe: I am explaining it the other way round. —Do you agree there are some people that went to buy $ at the rate of N1600 to $1 because they believed that Naira will depreciate more so that if it gets to like N2500, they will sell their $$ and cash out? Those are the people I addressed. From what the useless Aisha said, some people will still go ahead to buy the dip now believing naira will shoot up to N2000 so they will be able to get profit. Those are the foolishhh people I was referring to in my statement. |
Politics / Re: Petrol Should Be Sold At 424 Naira If $1 = 1,100 Naira by LegendHero(m): 6:39pm On Apr 17 |
jmoore: They can argue that they still have old stocks at that time. Like they are still selling old imported petrol. |
Politics / Re: Petrol Should Be Sold At 424 Naira If $1 = 1,100 Naira by LegendHero(m): 6:36pm On Apr 17 |
Wainey: It depend on your part of USA. Not all USA states have same pricing. In ATL, it’s like $3.4 per gallon today. But in some part of Texas, it is far lower. Some states tax gas higher even beside the transportation cost and other logistics stuffs. Some part of Nigeria sell petrol above N600 that they have it in Lagos. |
Politics / Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 6:34pm On Apr 17 |
erniok: Only God know what they did to it. I was also surprised like you. Infact as bad as people are painting Buhari, he actually did increase the forex reserve. Surprising statistics. Yet, we idolize Sanusi and Okonjo even when they depleted the FX reserve. Then curse Emefiele who increased it. |
Politics / Re: Petrol Should Be Sold At 424 Naira If $1 = 1,100 Naira by LegendHero(m): 6:18pm On Apr 17 |
Petrol today is $2.98 per gallon for in some part of USA like Ammarillo. —3.785 liters make a gallon —That means one liter cost $0.787 In today rate of $1 to N1100, that’s like N865 naira. That’s using USA, lot of factor determine the price including taxes and etc. In other countries, the price is lower than this. |
Politics / Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 5:41pm On Apr 17 |
IfnobeGod20: Nobody said only Dangote refinery will do the magic, but Dangote refinery is the greatest investment that Nigeria have had for the past 2 decades. Just leave your biases and imagine the billions in $$ that will be freed for other purposes considering the fact that Nigeria import petrol and diesel normally. Now they are being bought and sold in naira. In 1 year time, we will understand the massive savings that will come with this. Yes, we need to wake up and create more production capacity, but the little Dangote did should also be commended. 2 Likes 1 Share |
Celebrities / Re: "It's Confirmed Chief Priest Is Not Small. Money Na Water" Cubana Chief Priest by LegendHero(m): 5:32pm On Apr 17 |
Mekanus: Exactly, don’t mind them. |
Business / Re: 10 Key Impacts To Expect From Dangote’s Diesel Price Cut To N1,000 by LegendHero(m): 5:30pm On Apr 17 |
It’s a lie, Tinubu depleted foreign reserve to defend diesel price. We will not take this. We must buy diesel at 1800 to mock Tinubu so Nigerians can stay angry until 2027 and Obi will be elected president automatically. Dangote is a propagandist. 9 Likes 3 Shares |
Politics / Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 5:12pm On Apr 17 |
Quest7777: So Dangote refinery is not increased production? All those $$ we source to buy diesel, will we not be directing that demand for diesel import to somewhere else? Abi that dosen’t count as production to you? 2 Likes |
Business / Re: CBN Reduces Banks' Loan To Deposit Ratio From 65% To 50% by LegendHero(m): 5:08pm On Apr 17 |
Cardoso my man. Baba dey para. Banks and BDC go know say it’s not business as usual. 34 Likes 1 Share |
Politics / Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 4:52pm On Apr 17 |
Lol, Nigeria media and nonsense sensational reporting. Below is a quick chart I did on the FX reserve data from CBN. You can see how the foreign reserve move average through the years from 2006 to 2024. Cardoso paid over $6bn in FX backlog, repayed trillion from the way and means, where do they expect him to see the money aside dipping in the foreign reserve and borrowing from external source? Even the Bloomberg report that they are all copying and pasting clearly mentioned the above in their report. Just that Nigeria media don't use brain in copying. To all those kids screaming keep your dollar, how many of una even get dollars lol? For those with dollar, keep it so that your family can cry for you when you lose your life fortune. God bless Nigeria. 101 Likes 3 Shares
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Politics / Re: Tinubu Directs Inclusion Of National Open University Graduates In NYSC Scheme by LegendHero(m): 4:51pm On Apr 17 |
Saintganduje: Give it to your family to feed. 1 Like |
Politics / Re: Tinubu Directs Inclusion Of National Open University Graduates In NYSC Scheme by LegendHero(m): 4:44pm On Apr 17 |
Saintganduje: Yes, you wan pay my schoolfees? 1 Like 1 Share |
Politics / Re: Tinubu Directs Inclusion Of National Open University Graduates In NYSC Scheme by LegendHero(m): 4:32pm On Apr 17 |
Hopez456: Do you mean NOUN don’t admit anyone under the age of 26? 5 Likes |
Politics / Re: Tinubu Directs Inclusion Of National Open University Graduates In NYSC Scheme by LegendHero(m): 4:26pm On Apr 17 |
socialmediaman: Before Tinubu, were you not poor? You’ll still be poor in the next 8 years and still be shedding tears bitterly. Go and hustle. Your mates are making it, stop wasting your time on Nairaland finding threads to be bitter about. This thread is about NOUN students mobilizing for NYSC, it is a great news to those students. Let them celebrate in peace and you can choose to cry and gnash teeth. It is your right! 100 Likes 8 Shares |
Politics / Re: Tinubu Directs Inclusion Of National Open University Graduates In NYSC Scheme by LegendHero(m): 4:17pm On Apr 17 |
socialmediaman: Say this without crying. Where is Peter Obi? I heard he is now the president in a parliamentary system of government. 122 Likes 14 Shares |
Politics / Re: Tinubu Directs Inclusion Of National Open University Graduates In NYSC Scheme by LegendHero(m): 4:10pm On Apr 17 |
vowiski: I think ABC graduates 71 Likes 2 Shares |
Politics / Re: Tinubu Directs Inclusion Of National Open University Graduates In NYSC Scheme by LegendHero(m): 4:08pm On Apr 17 |
slivertongue: Are you a NOUN student? The NOUN students have been rejoicing since and their respective school VCs already informed them about this 2 days ago and they love it. 173 Likes 12 Shares |
Politics / Re: Tinubu Directs Inclusion Of National Open University Graduates In NYSC Scheme by LegendHero(m): 4:02pm On Apr 17 |
Tinubu also direct law schools to admit NOUN graduates. 75 Likes 2 Shares
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