₦airaland Forum

timesupreloaded:
America is a shiithole country. The most stvpid Nigerian is one who applies for an American visa

lol says a stvpid Nigerian.

Hamachi:
My younger brother graduated with a 3rd class went to US he came out top of his class and best graduating students for his Masters

It happens alot my dear. The country is a destiny killer.

Earlystar698:
For those that will start hyping the Gates meeting with President Tinubu, kindly know that Gate went to China today and the citizens are not hyping the visit. A president is expected to meet with notable World people and there's no big deal about the planned Monday meeting!

Also a notable World person can not come to any country without having his interest there.. The west doesn't do business with you because they like you, they do business for their interest.. Enemy and love is not permanent in politics but interest is!

Are you saying we do not have Interest?

flokii:
Beware of that man Bill.. they see blacks as lab rats to be experimented on.

You accused someone without proof. Give us the proof to Buttress this point.

SangoOlukosoOba:
Mention one Blackman that has invested in Africa more than Bill Gate? You can expand your search to include Whites too?


When he was fighting Polio in Africa, he was not the devil! When he was donating 7 billion to fight hunger, you did not call him a devil!


Africans are just ingrates like those Happie boys!

I repeat, mention one African that has done much for Africa like Bill Gates?

They will foolishly tell you that he is injecting them to kill them...lol. I'm not surprised after all they always attack Dangote the one that chooses to invest in Nigeria.

Ofadaman:
Most jobseekers aren't good enough for the job, no employer is frustrating them, this way of thinking is what makes applicant find ways to justify their incompetence ,instead of looking for ways to upskill and do better at interviews they find ways to throw the blame at the employers, just to feel good about themselves. Most of them will respond positively to this post as a way to confirm their bias and feel good about themselves.

They are always incompetent in Nigeria but when they go abroad they are no longer incompetent...Oga go and sleep. Ppl like you that have things going for you all think everyone else is lazy or incompetent.

JohnBullMySon:
Tinubu should as a matter of urgency stop allowing everyone to be visiting him anyhow.

Not as if he is incorrect, but being close Tinubu has now given him guts to embarrass the entire armed forces on television. Not good at all.

They embarrassed themselves when they allowed the nation to bleed over crude oil theft

Parachoko:
You're entitle to your opinion

The Naira will never go beyond #800

Right now the dollar to naira exchange rate is not even up to #600 when you apply through the banks

What was it before? You sure say you understand this English you type?

blaise26abj:
My brother why ? All these things should forever be banned . Our eggs can sustain us . Furniture is booming in nigeria . Companies have come to produce tiles in nigeria and they are doing well . Rice was doing well before Buhari’s bandits and brothers started their wahala . Those things need to be banned. Cement is fine . Just that the government has to prevent Dangote’s monopolistic tendencies

How much have you been buying the rice that is doing well before bandits?

VikingKing:
Man's middle name should be "monopoly" 😄

You wonder why despite being a billionaire, hes not being hailed as an economic or financial guru.

Does he need those hailing? He is a business man and he is thriving...lol but you online typing thrash that he will not even see

LAXconfidential:
The only reason Dangote never went into airline business is because there are competitors. Dangote cannot thrive in a competitive market.

You can only thrive on nairaland....lol. Nigerians are mad ppl. They attack the only person that chooses to invest in the country.

Rexymania:
Tinubu is trying to clean up Nigeria, bcus when the court finally says he should leave, people will start protesting and saying the Judiciary is working for the cabals.

Tinubu knows what he's doing

Madness

Promise201:
At the end of the day, it boils down to personal interests. These guys are independently marketers, they don't owe Nigerians their loyalty

We also don't owe them. They should refund thier money to them.

Parachoko:
Are they not the ones that were threatening to go on strike few days ago?

They should add money or the NNPCL should return their money

They want the product at the old price.....lol. The question is will they sell for the old price?

Flets:
It can only settle at 600 if CBN floods the FX market with cheaper dollars. Unfortunately, nothing has changed with respect to our exports and USD inflow.

Even investors with their FDI will manipulate the market. The FX is now open to the manipulations of speculators and banks while CBN will play catch up without any defined fiscal control

What have they archived with their fiscal control for 8 years? please come and detail their achievement.

savcy:
All the while I was thinking Emefiele was one guru doing the nation a service with all his policies. Nigeria's technocrats disappoint in public offices too much for comfort. Also, the youngest EFCC chairman let the youths down.

There is no substance in this news. Just hearsay. Crap news

slawomir:
Damnnn niggar

Signing anyhow bill to deceive the masses ain't the right thing
We are wiser now

All this doesn't mean his administration won't fail

You want him to fail so we all can suffer. Which kind citizens i dey follow share country?

tonytony208:
So, your cursed head tells you that Tinubu is different from Buhari?

obviously you are a dunce. I don't waste my time engaging dunce.

tonytony208:
But how does that make your life better?

Does it reduce the cost of living?

The same way the former status quo made your life better and actually reduced your cost of living.

tonytony208:
So, this one will reduce it?

Dìndìnrìn

At least we are not giving it to selected few at special prices.

Maski87:
But the bank has to have the dollar to sell remember you can't print the dollar as you print naira

The banks do not print the naira either. The banks have the dollars so leave all those stories when they tell you they don't have. It is reserved for selected few that are willing to settle at the right price

Sermwell:
I don't have any problem with salary earners but it can never be me! I can't be at the mercy of some employers who want to pay me whenever they like.
NB: those of you shouting the student loan by this evil government is not by force, do you realize that tuition will go up and affect those who are not interested in taking the loans??

Alot of you will definitely regret this

Keep quiet.

alizma:
Buhari took us from Egypt, but couldn't get to the promise land, hopefully Tinubu will take us there.
Buhari had his short coming but he was the one needed to free us from Pharoah's grip

Take your time make i no give you virtual slap.

grandstar:
The purpose of selling dollars to the BDC is to crash the rate there and bring it close to the bank rate, which would end round tripping.

If it's crashed, there will be little room for roundtripping.

The problem during Buhari's term in office was that he, Buhari himself dictated the exchange rates and not the CBN and Emefiele enabled him.

For instance, in 2021 when the official rate was 410 and black market rate was 480 or so, the BDCs were making huge profits.

If the CBN had floated the Naira then at the official rate, many speculated the official rate would have slid to around 460, reducing huge arbitrage profits for the BDC.

But rather than devalue, the CBN preferred to ban the sale of dollars to the BDCs and requested anyone who wanted dollars to approach the banks. This was a collosal mistake as the process of obtaining dollars from banks is bureaucratic while from the BDCs was instant. This led to a quick crash of the Naira at the black market as it was starved of forex.

Lets assume you need 100 usd from the bank and your gtb naira card does not have limit. will you still go to hausa quarter?

grandstar:
Very good.

I had predicted the Naira's true value would be between 600-700.

Anyway, I feel the CBN must reduce the Form M red tape. The CBN should also resume sale of Dollars to the BDC. This would bring down the differential between the official and black market rate. It would be excellent if the differential can be reduced to a 2 or 3% band at most.

They should sell to market that they are trying to eliminate.....lol. you dey smoke weed? Keep this your kitchen policy for cupboard.

Kenneth4u205:
yes black market rate . The average Nigerian on the street doesn't have access to CBN rate .

Educate yourself with the new policy. floating the naira will remove the need of black market. It means you can get the dollar from the bank at the prevailing rate.

franugo:
You're trying to be smart by saying that Dangote refinery was not a part of the reasons given for complete subsidy removal. We were promised that production would commence July (apologies, I thought it was June) but there'll obviously be no production this year for certain. I'm not sure where the 2007 sale of refinery to Dangote entered this discussion cause I agree with you that our refineries have been a complete waste of time, effort and money.

Dangote refinery was never the reason. If you are president will you spent trillions on naira on fuel subsidy? it is not sustainable. The focus will be to remove subsidy while trying to boost local production. It doesn't matter if it is Dangote Otedola or Any business tribe. The point is boosting local production. The second part is to improve power supply. The marketers are only in Business because of subsidy. I Had to bring 2007 just to show that our focus on Dangote is wrong.

franugo:
I will ignore your insult cause it's obvious you're looking for someone to drag into a mudfight and that isn't me..
I believe you were in the country when the Dangote refinery was commissioned to much fanfare and applause nationwide and was actually one of the reasons Nigerians were in support of removing fuel subsidy as we were told that production would start this month i believe, and that the era of depending on fuel imports was over, how is this not a scam?
Also, are you aware that they're pushing for only people with working refinery be given license to import fuel? Looks like a monopoly in view, and what the govt has simply done is push the subsidy payments to the consumers as tochi3 rightly stated.
If you have a different view, then by all means present it and refrain from wondering what's in any side of my brain.

Dangote clearly stated that the refinery will start pumping refined products by July to August. There was no place where he said June they will start supplying. The subsidy removal is done as a result of the burden on the economy and not because Dangote refinery will pump petroleum products this month of June. Dangote actually bought our moribund refinery back in 2007. There was public outcry just like this calling him different names and asking the government to reverse the sale of the refineries. Yar adua listened to ppl like you and he overturned the sale of the refineries and he returned Dangote money back to him. I want to ask you a simple question, since 2007 what has Nigerians that made the outcry back then benefited from those refineries? The refineries collected has been gulping money for turn around maintenence with zero production for almost 15 years but yet no public outcry...lol. Is it not clear that you guys are witches and wizard? Why would you be on the side of marketers that decided to invest in importation rather than local production? Why would a marketer only want to be in the business of importation and you are siding with him? You are obviously demonstrating signs of witchcraft ....lol

LegendHero:
To me, the actual big deal is that he could do all this without the usual grounding of the country from the big boys of the industry benefiting from all this.

When Bloomberg praised Tinubu yesterday, they did not do that because he removed all these things but they specifically mentioned that he was able to maintain stability and peace after removal, something that usually lead to chaos whenever any government try to do that since 2003.

I think he was able to achieve this because he got lot of loyalists in all corners of society. From the street, business world, Labour world, trenches, politics, international community, and etc.

No president can get away with removing fuel subsidy & unifying exchange rate in 2 weeks without sparking massive protest that would have grounded the economy. Tinubu mandate is divine.

We are already at the edge of the cliff. Buhari had done so much damage that you easily forgot the days of Sanusi. Ppl don't even notice the black market back then. Obasanjo unified the exchange rate after the initial damage of Abachas regime. There is no citizen that will support paying 3 trillion naira for subsidy so stop making noise after all it was APC that scattered the subsidy table by blowing it from billions to trillions.

tosyne2much:
The question now is that, with this new directive, will it eliminate Abokis we see at strategic places buying dollars?

Assuming you need 100 usd to make payments and you can access it from your bank will you go to Aboki? The reason you go to aboki is because the bank will not sell to you. The reason the bank will not sell to you is because the rate is not unified.

Beverlyjean:
Mumu like u...they just devalued the naira which they denied just last week and u are jubilating... mumu people like us is the reason y their country will continue to sink

They did not just devalue the naira. The naira has been devalued since but mumu ppl like you think otherwise wise because aboki goes and get 420 and you go and get the same currency from aboki for 750 800... The reality is how many percentage of ppl get CBN rate? If you even try to get it from the Bank you may probably have to bribe your way to access it. What does that tell you? The naira has been devalued but then special privileges was created for special ppl to access same currency at different rate. Is that not fraud?

Basicend:
Confirm the reserve. It's not anything close to that.

Buhari has almost taken out everything.

Don't mistake reserve for Excess crude oil savings o