₦airaland Forum

Pepperdemisback:
She's not too old. The man is doing his job according to people's budget. He does whatever they pay him for.
The sister might have asked for that, and also a lot of people don't do elaborate burials if the deceased was sick and suffered to death.

That event was big enough for any funeral,what else do you want......he should have held it in a private jet? Though where I come from 56 is still considered rather young and wouldn't elicit such celebration.

DaddyCoool:
Point is, people making such huge sums don't just walk away

In Nigeria it's turn by turn...they have cashed out and they can decide what to do with their redundant tanks

DaddyCoool:
Don't be sure. This is Nigeria. Stay tuned

We will never go back to Egypt!! We have suffered enough in this country... The tank farms were a stop gap solution till we could refine our own crude and now we have that.....they really serve no purpose except there is an arrangement with govt to use them as reserves.

nwirinedu:
Wasnt pessimistic, am just saying now that he has been granted the license to produce, he should prove skeptics wrong.

You either need to go read your post again and modify or come out straight.

anonimi:
If you know, why have you failed to say what it means

Why use words without knowing what it means? You called the post propaganda,how does that correlate with your response when you got called out.

nedu666:
See how you are displaying your dullness everywhere. Current account surplus means your exports exceed your imports. If truly that is the case, why is naira not appreciating.

Did you hear yourself.....it is a projection and if it materialises,when last did Nigeria have a surplus?

What impact are you expecting when the projected yoy hasn't even ended? Now who is the dull one?

Fyi,I am aware there is increase in exports because I am in logistics and I can tell I first hand,you even have to wait longer to get shipping containers to load goods.

anonimi:
Propaganda because they are of ZERO effect on what matters to we the masses- price of food, transport, rent etc as well as availability of jobs from factories and fars.

Then you do not know what propaganda means!!

Believeintruth:
dude try and be sensible. i dare you to show me where i said these things. The fact you are rejoicing over a future tense shows that you guys are desperate in pushing the propaganda narrative and you have forgotten that Nigerians are now more exposed and are fed up with this.
My advice to you because i know you are hungry miscreant being employed with 30k propaganda salary, is go and look for a job, get yourself useful and do not allow these politicians render your productive life useless.

We know you ilk,you are already disreputing a position made by those tasked with managing the economy and calling it propaganda with no facts to counter their postulations......you go on peddling rumours to discredit the govt to propagate your own warped narrative.

OkCornel:
Stories stories stories

Dear Jagaban lovers,

What is the progress update on Tinubu’s eight point agenda he promised Nigerians in 2023? This is over one year now. How far?

1. food security;
2. poverty eradication;
3. growth,
4. job creation;
5. access to capital;
6. inclusion;
7. rule of law; and
8. fighting corruption

https://punchng.com/translating-tinubus-8-point-agenda-to-recovery/?amp

What about the 50 million jobs promised between 2023 to 2026? How many has Tinubu and his government created?

https://www.nairaland.com/7821154/tinubu-sets-3-year-economic-revival

Food security - this is a work in progress as the damage that had been done to that sector over the years cannot be solved in just 12 months.however we know serious effort is being geared towards achieving this,you need to contact NADF,normal and so many agric funds out there.

Poverty eradication - there is no way you can eradicate poverty if you are not productive,many of Nigeria's human capital are in the wrong and minimally productive spheres in the economy,many of the okada,danfo and keke operators would have been more productive working on their farms or factories but they rather prefer to take those menial jobs than being productive.

Job creation - there has always been jobs but the problem we have is under employment.....I still haven't seen anyone who is ready to work and earn a living who doesn't have somewhere to go to do that.....I repeat,I still haven't seen anyone.....infact unemployment rates is worse abroad with many living on govt support abroad than we have here......there is work for anyone who really wants to work.

Access to capital- there is far higher access to capital in Nigeria today than it was 10 years ago,take that to the bank.

Your other points raised are rather too lucid to be responded to.

nwirinedu:
Another borrowing on the way, if these funds were channeled into the economy there would be positive impact, but sadly it will sit int he hands of the few, creating an artificial surplus of money in the economy leading to more inflation. And the CBN will increase MPR again.

When you understand that it is only govt borrowers that profit during inflation you now see why your MPR has to increase every month.

I am not sure you read that article?

nwirinedu:
Tanks were meant for storage, there has to be need for storage facilities of products. I find the comment made by Otedola telling the tank farm owners to sell their tanks as scrap insulting especially when his beloved friend has yet to produce any real evidence of trucks loading products and actually getting it delivered to filling stations.

If fuel is really being refined, then by this time tomorrow most of the queues in Lagos should disappear.

You can bluff on things like this if it is really working it will show, period.

You have a right to be as pessimistic as you want but need u know when it starts getting compulsive......dangote himself put his integrity on the line and came out to address the world about commencement of pms roll out and you still are this obstinate......I am sorry,i can't help u.

Those tank farms were an abeyance that should never have happened in the first place but due to the dysfunctional rent seeking economy we run,we had no need for them.....the refineries alone have storage and we have depots all over the country built for this purpose....no sane business man would go into the business of building tank farms anymore.

Vicotex:
Tinubu no dey try , make we talk truth.

On the macro level,things are sure looking up,I can attest to the fact about increased export receipts......do you know remittances have increased with the devaluation of the naira.....if the economy was as bad and unserviceable as obidients claim we would have been having serious riots on the streets......all everyone needs do is to get ready to adjust and take advantage of the number opportunities still available out there.

Ikaeniyan0:
Please go through the link below and see how wrong you're

https://www.nairaland.com/8203854/cbn-6.96-billion-current-account/1#131847026

How does that delinquent inference void my candid assertion!!

Believeintruth:
Oga you are making noise over a projection that is a probability of coming to pass. Ahhhhh propaganda no dey tire you? A performing government will not need to do all these noise making. Oga please get a new line of work this your Job of propaganda is surely a messed up job.

That was how you shouted dangote refinery,propaganda!!

Student loans, propaganda!!

Lagos red line, propaganda!!

Clearing of Forex backlog to foreign airlines,propaganda!!

Zero tariff on certain foods,propaganda!!

Seems the word as just been added to your inept lexicon......every central bank and economic managers all over the world make verifiable projections on their economies,instead of you to counter with facts and reasons you differ ,you come here ranting in comarederie with Ur fellow nay sayers!!

Ikaeniyan0:
What exactly in the manufacturing sector are you talking about?

Only in the food sector will there be an increase and the zero tariff policy is just for 6 month and I don't see it gulping close to what we're spending on importing fuel

From next month, Nigerians wont also need to import naphthalene again

The manufacturing sector is very vast and we are still not self sufficient in many areas.....take steel for example,do you know how much steel we need to drive the economy to a $1 trillion GDP,do you know how much inputs are needed in the food and beverages sector. The difference here is that if we ramp up our imports for manufacturing by adding value,the impact will be felt in the economy.

At this point we cannot allow dollar rates to go too low so as to drive up dysfunctional demand that won't be good for the economy.....if you produce more you export more!!

Ikaeniyan0:
So which sector is going to eat the billions of dollars we spend on importing petrol? What's the thing we will be importing that we have not been importing before

I don't see any new thing we're going to be spending billions of dollars on

When Dangote start producing LPG, we won't need to be spending a lot of dollars importing it too

We haven't gotten any where near 50% of our manufacturing capacity and more materials still needs to be imported,the manufacturing space will be expanded and smaller players who had hitherto been crowded out will be able to come in.......also the zero tariff policy on food by the govt,you need Forex to meet that increased demand for imports......our forex demand can never be fixed and there are so many factors that can eat up all ur forex you make available even if its times 2 what we already have in the market.

Bobodee09:
Why are advising hoarders of dollars.

By October they will know howfar.

Can you all see how independent marketers are very quiet., trust me many fueling station will close up before December.

Filling stations would improve and this is the time to even invest but u see those tank farms....they are gone for good!!

Ikaeniyan0:
The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

The CBN will now have more dollars at their disposal

Not true!! There are other sectors that would eat that differential up!! It them depends how well the CBN can manage that by channeling it into more productive sectors like manufacturing

flokii:
Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.

This cannot happen overnight but it's never too late to start.....it took china several decades of painstaking hard work to get where they are today......the hard work is what many of us don't want to do or accept.

KaLuCh:
Do you understand that our currency was devalued?




Kindly educate me on why the naira was devalued twice.

Scratching my head. Oh I think I get it. We needed so much naira to buy dollar that we decided the natural thing to do will be to further reduce the value of naira so we can get even less dollar with it? Genius!!!

Back to topic.

40% of the demand on FX is projected to be eliminated. So we have 40% suplux. The CBN would loose approximately 25 to 35% influx of FX via local currency sales of Crude oil, leaving us at about 5 to 15% suplux. And it is safe to say that other economic factors will easily mop up that suplux but let's say they don't, you really think this is the magic wand we need to wave and fix the Naira?

I think not.

We had been over defending the naira pre tinubu without commensurate productivity to support it.....this has become unsustainable and an heavy strain on our economy.....what we need to urgently do is to improve productivity accros all sectors and the govt needs to meticulously administer much needed stimulus to boost the economy and block leakages as much as possible.

Your currency can't have any reasonable value if you aren't productive, simple!!

Naira20:
Don't sell your dollars o....
If you can, buy more and store away from Nigerian banks.

I don't ses the naira gaining much on the dollar anytime soon.....the naira has actually found it's true value as we were over defending the naira before now to the detriment of our economy......exports have now increased and what we need to assiduously strive for is to ramp up production across all sectors to be able to shore up our GDP.

CyrusVI:


Our success as a country is now tied around Dangote's progress

He will succedd and we will too

God bless PBAT

There are other refineries already on ground and more still coming up,we are going into an era where we might not need to export raw crude any longer......this is really a game changer and we must be excited

madridguy:
Everything is now looking like a plan. A script well directed.

You now understand that Nigeria is a movie!! And that tinubu isn't really Ur enemy as many would think!!

DaddyCoool:
Let's all pray it lives up to it.
At least, one reason for optimism. One ray of hope...

Except, Malta gang won't like this, those who make fortunes through importation and subsidies

Those huge tank farms owned by importers are now redundant!!

ogaontop:
Peter Obi is humble to the core!
People do misunderstood his meekness for weakness but he's not close to being weak, give him power and see how he will be very decisive with actions!

Then what would you say about the man that allowed his 2 opponents into his bus and gave them a ride!!

noleflendum:
Will Grieving Peter Obi die if he didn’t visit where there’s funeral?

Every politician that matters in Nigeria would attend that occasion in Katsina......even tinubu is very good friends with the yar'adua family even when he was in opposition!!

Politics should be about humanity first!! It's the useless followers who can't think beyond their noses.

vanbonattel:
If a Chinese is taller than you, then you are really SHORT.

There are tall Chinese too....you remember Yao Ming?

Vadese1:
I wouldn't go too far, just be aware that agricultural operations in most parts of the world are being subsidies for their citizens. Basic life necessity in western world enjoys subsidies. Don't come and mention US or UK. To mention less, Education is free for most of the Arab countries for their citizens. Nigeria is the only country that her citizens will continue to sacrifice every things

I always laugh at Ur likes that would always insult their country at every chance without showing any capacity of really understanding the problems.

Do you know how much subsidy goes into agric as we speak in Nigeria,education is almost free in Nigeria even upto tertiary level depending how you want to look at it.

Nigeria still remains one of the cheapest countries to live compared to those other places u mentioned.....I am not unaware of the high level of corruption that pervades out society.....our problem is more systemic than individualistic.

The govt are sure doing their bit but it all gets eaten up by few .

Eriokanmi:
His production can't meet daily local consumption. He once said his petrol will also be for export. With this, there will still be fx demand by other players. We consume 66m liters daily

Not true ....it has always been touted and one of the major selling point for the refinery is that it can take care of the entire local production.

Eriokanmi:
Dangote refinery cannot guarantee that. Because its not the source of the FG's foreign earners. I totally disagree. The birth of the refinery is a way forward but can't also guarantee production for local consumption 100% so, fx demand will continue, including in other sectors like manufacturing.

I'd have reasoned with Dangote, had he said, the policy will slash fx demand by his own refinery by 40% because his refinery won't need to order crude from the Americas anymore,which he'd have paid for in dollars by raking up all the dollars available in our banks and ctreate scarcity of same.

Exactly what he was saying!! No need to import fuel anymore which you would have hitherto needed Forex for

sleek214:
Bla bla bla. You don dey praise Tinubu because dem don give you wetin you want. Dem don also increase fuel pump price because of you....

Did he ever tell you he had anything against tinubu....intact this refinery getting of the ground is a huge advantage to tinubu.....

Naysayers in the mud!! Let them be buying the fuel they have refined in their backyard......to them dangote can never work and tinubu is the one sabotaging him!!