₦airaland Forum

Shaytun:
Whose needs is the fx catering to before? Aliens?

Guy can the available fx to be gotten at that amount cater to the demand?

Shaytun:
Your currency 💴 is either fixed or floated.

Right now the value of naira is being determined by market forces, nobody actually knows what the value of Naira will be by the end of today, it could shoot up or come down, it you are regular trader and have access to the I & E window, you can also check on this website.

https://fmdqgroup.com/

If you’re checking regularly you will see that Naira prices have been going up and down, if you check 3hrs from now you will see that the Naira price has changed again, that’s a floating currency.

Lmao.. I have a simple question, can the available fx cater to the needs of Nigerians?

larride:
Yes you are confused. Electricity has been privatized. Everyone knows that.

Of course, I will pay for the energy the same way you and your bands will pay for the energy the same we have all been paying for the energy.

The koko is that you didnt read the article before coming here to spurn "they want to remove subsidy on electricity" and your band of trolls lap it up.

Lmao.. My guy you are jumping up and down too much on that cock.
Come down and rest.

So you have said I came here to accuse tinubu because you are defending Tinubu's presidency from this decision.
But I am accusing the FG especially the APC led FG.
These things are not cast in stone and can be very much reviewed.
But it seems for you, it's a serious problem to comprehend 😁.

Segedinho:
At the end... the increase will be paid n ur reaction is tagged "you don't want Nigeria to work" because it is Tinubu

Lmao.. We will all pay.
Nigerian citizens nor deserve anything from government.

Even enabling environment to hustle we nor deserve am.
Fictitious education subsidy is gone at this point.
Fuel subsidy gone.
Electricity subsidy gone.
I'm sure we will soon hear of medical subsidy and it will be taken out.
Shey we are about to start paying for VAT on fuel purchase from gist flying around.
Security trash.
Light not good enough.
Employment figures very low.
Poverty figures very high and climbing.
Current inflation is 22.40% I think.

Old stock of fuels in depots will soon finish and we go see the new price of fuels when purchases are made.


Middle-class wey suppose hold FG for blockus dey follow kiss FG ass and now middle class Don further slide into poverty bracket🤭.

Again the core truth is after defending government, you'll drop your phone and face this reality and see shege that everyone is seeing😌

larride:
It's like you guys dont know that most part of electricity has been privatized?

NERC is the regulator of that space and without them, most of these Discos will just be charging anything they want as electricity tariff.

If you read the article I posted, the government is paying these Discos 50bn every month to subsidize their shortfall. 50bn every month is 600bn yearly that the govt has to pay Discos whether they meet their quota of at least 5000MW distribution or not.

One thing I dont understand is why they NERC is pricing electricity based on $$ when we have enough gas in the country.

Larride are you trying to have a conversation or are you trying to talk like a party man?
Let me know first to decide if to be serious or waste your time

larride:
So is it the President that is removing "subsidy" on electricity or hiking the price as you and your bands want us all to believe this morning?

I'm confused?
The party that could have reviewed this was the apc.
You had 2015-2019 and then 2019-2023.

We Don jam this agbako because of other decisions taken by your party president.

So wetin you dey try do?
Protect tinubu?

Oya protect him nau.

But you'll still buy light for this high amount too because as usual in your mind, me complaining is me doing Obi vs Tinubu.

Segedinho:
Propaganda is the theme

Lmao.. Propaganda to?

Na idiots e dey talk to because that excuse cannot fly anywhere.
The last 4YRS, APC has controlled the house and the amount of rubber stamping they did for buhari shows they would have looked at it if the party wanted to. 😊.

Segedinho:
Na PDP dey responsible for high tariff o....9 yes ago....them say na coincidence e come bad under this administration
The sweet talk and reasons don dey shelle.
https://twitter.com/woye1/status/1670728568890859524

Lmao..

Woye is an idiot.

Abi suddenly president nor dey ask NASS to do amendment.

As if nor be the same buhari amend cbn act for ways and means to 15% this year to cover the borrowings.

Again Woye na idiot🤣

seankafor:
na mumu dey buy 2015 Lexus

Boyz go buy 2012, upgrade am to 2017

If you no like am go to court

You dey upgrade the actual engineering of the car? 😁.

That's the real upgrade

Segedinho:
I am hearing this for the first time o...can you provide link for your statement.


In other words,if my sureties are worth more than 500k per annum..I am not qualified??

Among the listed possible sureties.. show me 1 that recieves less than 1m per year

Lmao.. Still waiting for the updated one larride said tolu said was signed for us to see.

Coz if na that requirement, then people go barely qualify😁

Itsrm:
Exactly.

And the more luxurious the vehicle is, the more the ridiculous amount they ask you to pay.

Anyone buying a toks BMW, Benz, Lexus, Infiniti or Acura in Nigeria of today na chairman

Lexus? 😂

Omo economy Don spoil pata pata

Itsrm:
Yes, that's the average price. Between 8-9m.

And here's the catch. All na still accidented from Copart/Iaai

Lmao.. Ahn ahn money to do somethings Don dey like this.
What about hyundai elantra 2015? Possible price🤔

larride:
Just admit you didn't read the news, you just saw headline and ran here to troll.

Keep it moving abeg. I dont have strength for unnecessary argument this morning.

What's in the news that changes this.

There is going to be a possible hike of over 40% of tarrif.
What in the news will change that the common man will pay even more?
What the news does is explain the reason.
It doesn't change what is most likely to happen.

So again what is the difference?

Shaytun:
You don’t even understand what floating means

No I don't actually.

Tell me what economics we practice in Nigeria that always leaves us scratching our head.

How many times have things been done by government that the effects has been totally different from initially planned.

So again tell me how our own brand of economics isn't beautiful 😊

larride:
For those that actually read news and not just headline, here you go.

https://guardian.ng/news/households-under-pressure-as-new-electricity-tariff-due-july-1/

Okay okay.. So with this explanation my dear brother, are we and most especially going to pay higher for light or not?

Itsrm:
You can't buy any decent Toks car below 5-6m now.

Someone I know got a car loan of 7m, he had to add some money to buy a Nigerian used car

The original plan was to buy a Tokunbo. The prices he got shocked him

So how much for hyundai 2015 sonata like this?
8 million ish ba?

Shaytun:
The naira has been floated.

Lmao
.. Like I said our own brand of economics is beautiful

nihilistjnr:
Prosper my guy
I'm not sure I understand your question.
Rephrase it so that it doesn't sound like a loaded trap.

Lmao.. Do you believe Nigerians don't pay enough tax? 😁

monerozi5590:
Import substitution is good for the economy and it's encourages local production. Our trade balance is in the negative already. We are capable and sufficient enough to produce those items locally.

We all know floating the currency will depreciate the Naira against the dollar and that's that.

Our foreign reserves cannot continue to back the Naira against the dollar no more.

Net Trade Balance. We import more more more than we export, this alone weakens the Naira against the dollar.


The goal should be having enough to export.

But what are the incentives to produce locally? When last did local production meet demand?
Even with buhari closing boarder. The gap still dey.

monerozi5590:
Import substitution is good for the economy and it's encourages local production. Our trade balance is in the negative already. We are capable and sufficient enough to produce those items locally.

We all know floating the currency will depreciate the Naira against the dollar and that's that.

Our foreign reserves cannot continue to back the Naira against the dollar no more.

Net Trade Balance. We import more more more than we export, this alone weakens the Naira against the dollar.

So once again we didn't freely float the naira and as usual it's all controlled which isn't what we wanted ba?
And to make it worse we still do not have the required fx as at today to meet the demand for fx with those cbn rates

Lmao. NIHILISTJNR howfar.

How much tax did you say Nigerians do not pay again especially when you factor those taxes unaccounted for.

🤔

monerozi5590:
Can you please explain that?

The 43 items banned by cbn led to people sourcing for fx for them outside the system which led to a massive gulf between the black market and official rates.

Especially when you consider we already were barely getting enough fx to begin with.

Ibime:
Black market rate for Naira seems to be getting worse. What is the I&E price now? cc Shaytun, larride

Lmao. Why won't it get worse when the naira has refused to be freely floated.
The things that led to worsening black market rates are still banned which makes no real sense.
At the very least unban like 50%

Another thing we have a bad culture is our regulators actually not doing their job

liveLongNprospa:
Lmao post nut clarity that' took alot of apc guys here 7yrs before they started saying and admitting that buhari failed totally.

Shey then anybody that talked was tagged wailing wailers.

I've kukuma said it, all of us in Nigeria will see shege in real time.
The fat old fvcker that keeps talking about Obidients disease legit had to gather all his gallons in record speed after tinubu made speech to go buy as much fuel as possible before shit hit the fan.
He has been complaining too but apparently maybe the fat has blocked his senses from seeing the hypocrisy on his end🤭.

Still relevant.
😁

Cbn dey find fx😂.
Lift inflow but limit outflow very well😁.

At the very least allow us use our naira cards to pay for stuff biko👍

The economics we practice in Nigeria is beautiful

The question now is, why should I do this when I can get a better deal through black market?

Also I hope the CBN doesn't start forcing people to receive what they get in naira sha.
That will kill remittance through traditional banks at a time we need all the FX we can get.

Also that naira rate on I&E seems to be bobo 😁

VAT on fuel loading from what I hear😂😂

Emmynator:
Damn, that's my keyboard, let me update asap.

It's so good and pretty accurate.
At the very least it gives you quick information to work with

Ibime:
Na nonsense

Nor vex me abeg😩

This thing Microsoft did.
Adding AI to the SwiftKey keyboard on mobile phones is such a bad ass move.

And its pretty great.
Just saw the update today.

Shaytun:
I showed you a news article yesterday where NMPDRA said they gave 3 oil marketers license to import petroleum products.

What else do you want from me?

Should I spoon feed you facts? Or you can’t go and search for the company yourself?

You nor know the names of the companies?