₦airaland Forum

nairalee:
I always knew Musk would hold key position(s) in this administration. He really worked hard for Trump, infact I credit him 20% for Trump's victory in this election.

Some credits go to:

Musk,
Vivek,
Charlie Kirk,
and Podcasts like
Joe Rogan,
PBD,
Candace Owens,

and most Importantly the stupidity of the WOKE LEFT

Their is something really weird and spooky about that man musk.....I really don't trust him.....a trump and a musk united in power is a big cause for concern.

CodeTemplarr:
So they dont teach you guys that part in BMC crash courses?

Let me try for you.....

When WB and IMF gives loans for public projects. The projects are expected to take time to be executed. They also need time to get up to speed operationally. That means there has to be some delay of repayment schedule to allow returns from the projects start trickling in before it is done. That grace period is what uncle Yekini and his appointees are spinning as effect of good policies. No. It is actually down to suspended delay in repayment of dollar loans. The govt is using dollars meant for project loans to reduce burden of foreign exchange demands and also grow the forex reserves. In turn, they are using saved subsidy removal in Naira to do projects and cover up the scam from lenders like AfDB IMF and WB. Get it?

It will still go burst.

Thank you for your seemingly erudite inferences.however,can you pls list some of this loans and projects so we could have a clear understanding of your posits.

CodeTemplarr:
Scam projection. As long as production is suffering and Naira volume in circulation is same, it is bound to drop in real value. It may only strengthen temporarily due to defferred loan repayment from IMF WB.

He is political with his analysis.

The only positive is dangote refinery that has introduced substantial value addition by reason of local refining of crude.

Where is this deferred loan payment phenomenon coming from.....this is the second time you would be mentioning it.....can you please elucidate?

The naira is still on a self discovery journey as it has been left off the leash.

Blazetrailer:
Arab summit is different from Saudi Arabian government. Majority of Arab nations are anti isreal. He was not specific on Saudi Governmrnt.

You are the one getting it twisted

The American govt is different from the UN but the UN is nothing without the American govt,same for that islamic organisation and Saudi Arabia.

The major players in the middle east are not averse to Israeli operations against hamas and Hezbollah..... Saudi, Egypt, Jordan, Iraq,Kuwait through their body language have nothing against what Israel is doing to hamas and these are the major players in the region......the resolution of OIC is just mere rhetoric.

Blazetrailer:
How does one educate semi literates like you?

The Arab summit of 2022 was held in Algiers. It did not matter who hosted it then. Venue or host do not determine the direction nor the rhetorics of the summit as evidenced by the communiques issued at the end of the summits.

Maybe you should take a bit of some time to read the resolutions of both the 2023 and 2024 Arab summits where all arab nations unequivocally condemned Isreal on their war attrocities in Gaza. Saudi is an Arab country too. They never backed out.

Tinubu going there to lick the Arab's behind could only have been a way to pander to them for more soft loans(Nigeria have written OIC for more loans recently). Otherwise, strategically thinking, there is no way his stupid vituperations against Israel would benefit Nigeria.

Resolutions or not,the body language of Saudi a major player in the gulf isn't askance to Israeli attacks on hamas and Hezbollah......Iran and Saudi aren't friends but arch rivals on the region and saudi knows the ayatollah regime is behind them also behind the Yemeni houthis right at their south western border.

Hamas is equally a threath to Saudi and even Egypt that's why they have been aloof and rather too aloof I must say on the Palestinian debacle.....what just happened at that summit is nothing more than what it is,mere rhetoric.

On the issue of Nigeria joining the OIC,there is absolutely nothing wrong,if there is a Christian socio political bloc available for Nigeria to join,the govt definitely......tinubu needs all the leverage he can get from the international community to aid his hailing economy.

Gbadugbakun:
Suffer no de taya you. Haba. Una go still de support APC even after wrecking the economy and reducing you to abject poverty.

Abeg what are you defending in this government? What have they done for you to make you defend them like a cult. Una get problem I swear. That's why your politicans don't take you seriously.

What did obi do for you in Anambra,what is he doing for you other than cashing out on is fathom aspirations ?

The party is bigger than any individual,if you aren't ready to submit yourself to party supremacy which are the tenets of a democrat ... You could as well leave before you get expelled.

Blazetrailer:
Arab summit is different from Saudi Arabian government. Majority of Arab nations are anti isreal. He was not specific on Saudi Governmrnt.

You are the one getting it twisted

Hosted by Saudi Arabia for a reason......the al sauds do not care about what Israel is doing to hamas or Hezbollah so far they are backed by Iran.....no this and know peace.

NothingDoMe:
Lol. I wonder how many loans he was able to secure this time.

All those ranting about Israel nor be for free. 😀

Know this and no peace......Saudi has nothing against what Israel is doing to hamas in so far they are backed by Iran.

You should learn how to have a good grasp of any topic before Opining about anything.....it depicts you as a rather intelligent person.

Emeskhalifa:
North should implement this. If not because their politicians over there are wicked set of people, make primary and secondary free and mandatory that every parent who defaults will be punished severely. That's the long term way they can curb terrorism. But since they use these uneducated kids as their political tools, they won't do shit about it.

This kinds of policy might look irrelevant now but a few years down the line, you would begin to see the benefits that's if the govt can ensure it is done efficiently.

Take Lagos for example,in 99 when tinubu came in as gov,he started enacting policies in education such as millennium schools,free education,improved teacher welfare and this brought about a lot of change and reversed the rot the system suffered under the military.....schools got better standardised and a lot of parents renewed their trust in public education.....till date public school teachers in lagos are far better off than many in privates.

This are what state govs should be doing to alleviate the suffering of the people..... There should be massive investments in education,health care delivery and agric economy in every state.

But instead of their citizens to ensure these are being done,they point to Abuja as if tinubu owns the school in their community or PHC in their LGA.

Isokiscool:
Hahahahah.Oba of Benin is a card carrying member of APC.The most political Oba in history

When obaseki won second term,the oba was PDP ABI?

Why did the VP fly private jet ....what happened to all the planes in the presidential fleet?

CodeTemplarr:
Deeply mad idiot.

Shallow minded brainless whelp!!

CodeTemplarr:
Idiotic diversion from topic. After opening your rotten 32 to call me a liar, you cannot back up your obvious lies. Thats enough for now

You are either been spoon sped with what to type or say......it's obvious you are totally unintelligent on things you type about.

You mentioned debt cancellation as a factor and I asked you to maintain where the cancellation came from and how much,rather than state your facts you are here rambling like a goat at the slaughter.

CodeTemplarr:
Any details of how it was brought down without debt cancellation?

Or just the normal BMC hustle.

You should provide data on any debt cancellation Nigeria got post obj.

Kukutente23:
Seems this man is complaining that Nigerian crude is too good to be processed locally and consumed locally as well
Everything must sha get coma when it comes to Nigeria

How did naira jump from 400 to 750 within a month last year? Was it a switch? Is the switch broken now?

Naira didn't jump from 400 to 750,naira had always been at 750....it was govt subsidy on the dollar amounting to about a billion USd monthly that kept it at that artificial rate of 400 which a few privileged people will then get at that 400 and then turn around to sell to aboki for 750 making a profit on the difference,this govt saw and decided to stop the dysfunctional arbitrage in that space which only benefitted a few.

Now govt left it to free markets, willing buyer, willing seller system and prohibited items were unbanned this bringing more demand into the market with limited supply that's what shot the dollar up to what it is today..... round tripping was disinsentivised as there was no need to buy dollar from CBN and go sell to aboki as there wasn't much margin.

We need to get production up in this economy, agriculture, manufacturing,services we need to find local alternatives to most things we import to reduce the pressure on the naira.

Bullfallo:
.. the most vital question is how much is dangote is now selling to Nigeria. And how much is NNPC selling crude to dangote in naira.

Bonny light crude which is produced in Nigeria is about $76 while Brent is lower at about $72 a barrel......that gives you about 125k in naira and that gives you about 170 liters of pms which gives you about 737 naira per liter......now calculate transportation,brokerage fees,taxes,interest on instruments,refining cost, transportation from refinery,taxes,brokerage etc the you arrive at how much you are buying pms currently.

3exe3:
Bullshit all talk and speculation no real changes the naira is 1700 now but we were told once we sale crude in naira it will help the exchange rate.

You only started buying from DRL just a Few weeks ago and you expect that to reflect immediately on your currency value.....you need to wait till about 1st 1/4 2025 to start seeing the changes..... currency value isn't just decided with the flip of a finger,so many factors come into play.

CodeTemplarr:
Thats down to loans repayment being suspended and not the wuruwuru politics of uncle Yekini.

Loans from IMF and WB are always allowed a grace period when it is utilized and assume to be ready to start yielding fruits. It is that grace period uncle Yekini is branding as resultant effect of his gymnastics policies.

The way you people lie with a volte-face needs to be studied,I doubt you can even breathe without telling one.

Nigeria's debt servicing which was just brought down to 65% of revenue has been for what, waiting for you to say shared by tinubu.

The major bane of our economy is the huge debts we are having to repay without cognisant investments to show and every past govts are equally to blame.

Kobojunkie:
This is a nation of over 150 million Nigerians that is being run on nothing but lies and propaganda.

Wait for the 3rd quarter figures....I believe there has been some improvements on oil output.....the publication you quoted was in August.

Pochettino:
We women need to do more to become state governors and not 5th wives to old politicians

The NE has a better record with that than any other region.....mama taraba- Aisha alhassan and binani of Adamawa made highly commendable efforts in gunning for the top job.

LegendHero:
Jagaban dey Saudi nao.

That's not aso rock,that's his residence in ikoyi Lagos.....it's definitely an old picas you can also see the former CSO that has already been redeployed......just posting all this to show clout.

Beremx:
USA and pride. They want to sacrifice the lives of the two astronauts for pride.
God punish Joe Biden and his heartless government. What will happen to them if they run out of food? Chai

They are already billed to return early 2025!!

princemaths:
yea of course, APC cows will always bark and debunk any stats and proves that contradict their lies.

I agree with you, poor Nigerians should dash your govt all their salary through tax and high bills so they can starve to death. While the govt provides nothing in return

Oil money isn't enough. That one is for stealing alone.

Qatar collects 0 taxes from its citizens and from oil money became extremely rich. The govt pays subsidy on everything.
Their electricity is cheaper than in Nigeria. N54 per unit.

I guess their leaders have four heads and 2 tescilces each.

If Qatar's style is the best,then every country in the world would have been practicing same system but they aren't for a reason.

I just gave you data on how many Nigeria's are already tax exempt due to low income and no one is bothering them.

Bobloco:
Is Tinubu government not engaging in mindless borrowings despite not paying any subsidy?

You need to understand that no govt can survive without debts even almighty USA and rich ones like Saudi and Qatar.....
It's what the debt is being used for that should be of priority.

Nigeria was spending about 97% of its revenue on debt servicing before this govt could bring it down to about 65% which has made it possible to free up funds for capital projects.....all these was made possible from subsidy savings and naira floatation.

JASONjnr:
But this is not the same with other countries that refined their own crude.

If not for corruption, why should a country who extract it's crude and refine it be selling on the same price with what international market is selling..... Except when they're exporting the goods.

Mention such countries!!

mrvitalis:
It is mathematically impossible for landing cost of petrol to be ₦950 let's be realistic

I honestly don't understand why this Yoruba APC government lie over irrelevant things

The lowest anyone can get petrol of low quality like the ones we use here is around 70 cents per litres

So when at the ₦1655 exchange rate it's ₦1158 plus say ₦30 shipping fee ₦1188 is the minimum you can get petrol into nigeria

If Nigerian marketers can import petrol at ₦950 None absolutely none of them would sale in Nigeria when their is Ghana, Togo, Benin Cameroon and the rest ready to pay ₦1350 per litres

I don't get why APC government can't come out openly and say yes we pay subsidies and end all this rigmarole they are doing... It makes no sense

You are either a bot programmed to attack the govt at every turn or you are just trying to be downright mischievous......where in the post did the govt make the announcement on landing cost at 971.....it's the marketers themselves who are inferring and trying to make a case on why they should be allowed to import and trying to force govt to support them and which they are saying no way!! If you want to import you are free but with your own money and at your own risk.....no right thinking business man would be ready to go that route.

Bobloco:
Tinubu, how much has been saved from the subsidy removal, and where is the money?

According to the minister of finance,the naira for crude deal for local refining and non importation of petrol will bring about 700b monthly in savings for FG.....that's really huge if I must say but the problem is our debt servicing obligations.....it's just too high!! Past govts have really put us in a debt mess and it's affecting everything.

Pickmycall:
All this report about landing costs, demurrage and what not are all economic jargons.If the price of crude oil goes up at the international market,Nigerian government will increase the price of fuel per litre.When the price of crude oil comes down they will not reduce the price of a litre of petrol.Nigeria is now refining petroleum products and the price is higher than imported ones.Which kind economy sense is that?

Stop listening to propaganda.....who told you the refined fuel in Nigeria isn't cheaper than imported one,this is only a vile attempt by the people who have been benefitting from fuel imports and subsidy.

You read in the article that landing cost was now N971,then calculate depot charges, transportation,taxes etc,there is no way it can sell for less than 1,100 and no one really knows the quality of the petrol they are bringing in.

It's simple all these marketers who want to do oil business in Nigeria, should go into refining

owiko:
NLC should be demanding an upward review of minimum wage, because the prices of commodities have overpowered the 70k even before it's implementation.

Then thta would amount to shooting yourself in the foot.....you are here crying about high cost of living which is being caused by inflation.....further increasing the minimum wage would lead to higher liquidity in the economy thereby making prices further sky rocket......it's basic economics!!

ElevationD:
What a pity.

Granted that rice is smuggled everyday, but the allegation seems to be exaggerated.

I do not agree that each car can carry 65 bags of rice. If Soyombo said mini trucks, then that would be understandable. Did he make an error or he did not understand it all?

Hopefully this APC government can allow rice import once again, so that the price of rice can reduce in the markets.

Ask questions and you would understand better what you don't know.......a Toyota Camry big daddy or 2000 model Avalon will comfortably carry 70 bags of rice each.....this is a given fact.