₦airaland Forum

olig:
It is amazing how we come back many years later to blame GEJ for not removing subsidy. That is why I keep saying, I don't believe that we deserve better than this. We got what we deserve.

GEJ made efforts at to save the excess money from crude oil. Some people took him to court because of excess crude account. We blamed him for that. How much do we have in that account today?
GEJ removed subsidy. Some people turned rebel and turned the country upside down. We blamed GEJ for it.
Dr Okonjo Iweala cried that we should save for the raining day. But no one listen. All the governors were against here, saying they can not save for who will come latter to spend the money. We blamed GEJ for it . Many years latter, we are still blaming GEJ for not saving.
PMB wasted the little that was saved in the excess crude account and pratically depleted our foreign reserve. We blamed GEJ for it.

PBAT removed subsidy and devalued the naira. We blamed GEJ for it.

That is why many decades later, we are still blaming sl*ve trade and colonisation for our woes. Even when many countries in our category have left us. As if we were not the ones that thought the British. We are not practicing sl*ve related traded and wars before they came right?
We always look for who to blame, rather than fixing the problems.

Before you say GEJ administration was wasteful, just check government spending and expenditure per administration. How much has PMB spent so far? And what do we have to show for it?
Technically, the problem has never been non availability of money. Our spending has ever being increasing. But what do we have to show for it is the question?

It is well.

Let is continue deceiving ourselves.

My brother, just rest. Don't mind the sycophancy and hypocrisy at play on this topic!

megawealth01:
They have mopped what they can unless they want to chase the minority away

Wow, let's hope for the best then.
2025 is make or break year for Oando. No more excuses now that they are fully in charge and operating ENI/NAOC assets.

megawealth01:
They should go below 40 jare so we can have enough people dump it

Lol
Wale and his gang may also mop everything before it gets to N40

KarlTom:
Maybe Mr Market is trying to price in the bonus...

Let's hope Oando delivers some reasonable profits for Q1 or there are more good news e.g. from the Angola oil bloc, otherwise the price may drop further down.
If Q1 comes out very good, I see it cross over to around N80-N90

BabsO2:
These mouth watering CP’s can weigh the market down. They could beat inflation in their time period. Or likely beat it.

Yes, true they can weigh the market down.
But I doubt beating inflation; the recent rebasing not withstanding.
The inflation being experienced is mostly cost-push inflation, which is more difficult to tame.

KarlTom:
ARADEL. ±
CONOIL. -0.53%
ETERNA. +6.25%
OandO. ±

Seems Oando is forming some resistance at the N60-65 range.

sterlingD:
I hope what you mean is what is shown below?

Though there is thread on Commercial papers on nairaland the thread has not been updated with that of Access bank yet
https://www.nairaland.com/5010648/commercial-papers/8#134195602

Yes, thanks

sterlingD:
Though there is thread on Commercial papers on nairaland the thread has not been updated with that of Access bank yet
https://www.nairaland.com/5010648/commercial-papers/8#134195602

Thanks a million

sterlingD:
Your stockbroker is one of the closest who can share or send you up dates.Like at midday today l got mail notification for the Access CP including that of Dangote sugar from my stockbroker some others sent me Dangote sugar CP up date yesterday.

Which stockbroker do you use?

Please can you upload the forms here? Thanks

donareal:
Does anyone here have experience using an inverter deep freezer or fridge? I know it's a relatively new technology in Nigeria, so not many people have used it yet.

I’m considering buying one, but I’ve heard mixed reviews. While it consumes less power than regular freezers, some say it doesn’t last as long and can be difficult to repair when damaged.

Most importantly, how is the cooling like. Does it stay cooled for long after power outage? If you’ve used one or know someone who has, please share your experience. I’d really appreciate your insights.

Thanks!

I have Haier Thermocool inverter deep freezer and it works perfectly; does not consume much fuel.
It can keep your food frozen for 4-5 days without electricity

Racoon:
https://www.vanguardngr.com/2025/02/fg-urges-traders-to-reduce-food-prices/ nlfpmod

Interesting!
A govt that has increased the price of everything under its control (LPG, CNG, Petrol, Electricity, Passport fee, Licence Fees etc.) is asking traders to reduce prices! Incredible!!

megawealth01:
In all honesty JAGABAN seems to be on the right track

Abeg ooo
Na Dangote name I mention ooo! I no want trouble oo

GeeKudi:
Maybe you should jusk for the address of Aso Rock Villa rather than stressing friends who are in the same shoes as you?

What is this nice guy saying again?
No be you talk recently that we should be fair to everyone vis a vis comments directed at @ProphetUtuocha?
Now, you can see you are not fair to me, otherwise, you would know that I contribute my quota to the economy of the nation wherever I may be because I am productive and pay taxes.
And who even told you that I am not at Aso Rock villa right now talking sense into the man's head?
I know you to be a very good, nice, Godly guy; so don't let the system corrupt you because you will make heaven.
Be wise!

NewDigitalWorld:
This oyinbo people are just ungrateful sometimes.

Even if you want to criticize your player, do it in private.

Talk to him one on one, don't just go to a press conference and start criticizing your star player publicly.

Anyone can miss a Penalty.

Messi have missed a penalty.

C. Ronaldo have missed a penalty.

Hazard have missed a Penalty.

Neymar have missed a penalty.

Mbappe have missed a penalty.

Kane have missed a penalty

Anyone can miss a Penalty.

This is a player that won a Europa League for you.

I hope this won't affect Lookman confidence.

The coach must have made those comments because Lookman was not the best penalty taker in the team. EacH team has players that are preferred for taking penalty kicks, so if you are not among and you take it and missed, you may be blamed. That is why the coach mentioned the names of the other 2 players who were ready to take the penalty before Lookman grabbed the ball because he wanted to score a second goal

megawealth01:
Nigeria’s Fortunes Appear To Be Looking Up - Bloomberg

https://www.bloomberg.com/news/newsletters/2025-02-18/next-africa-has-nigeria-turned-a-corner-investors-think-so

Hopefully we will have inflows of dollars into the country soon

Let us thank Dangote for the refinery. His singular investment is what has reduced the demand for dollar and relaxed the pressure on the naira. If not, we would have been buying dollar for about N2,000 or more right now.

ndept:
lol @ the bolded. If others lament how the present government policies affected them, you will still thank God. On the contrary, some people benefited a lot too from those policies that you considered negative. So, those people will also come out and say that this government is good. I have a close friend in diaspora that has made over a billion naira in his trading profit since this government took over, and you can guess who he will be supporting whenever we are talking politics.

In conclusion, I want you to understand that the 2 things that can easily scatter friendship between Africans is politics and religion. Let's try to keep this two away from this thread in order to focus on our objectives of making money. Do have a nice day.

Thanks, man

emmanuelewumi:
Investment is not guaranteed, but your deposit in the bank should be guaranteed.
Better as inventors lost compared to depositors losing their savings

Thanks man, for further clarity.

PuristForest:
Patience is very key in this game, i posted previously my thought the market for this Q as reflected in a couple of the indexes like the ASI and the structure of some of the assets that we track in ewnation. Many atimes, they are unpopular so ill be a bit measured, but i can tell you that the sell off that we see is not going to be for a few days, it will weeks.......Haven said that, this may be contradictory but the coming months march, april in particular willl present the best opportunities to buy this year. Not investment advise,but what i have done is been selling since two weeks trying to mop cash for those months, still down from 9 to 8 figures but not bothered cos i have played this game before.i dont know anything ooo dyor...for more https://discord dot /YKsBxXS2 replace the dot

Thanks

megawealth01:
I no sabi rate any stock ooooo

Na wa oo.

PuristForest:
This is definately not the time you want to be buying.....

Thanks for the advice. Well appreciated
Would you like to proffer some further tips on your answer?

KarlTom:
I fully agree that economic policies and decisions have a tangible effect on the stock market.
However, we should try to politely [and constructively] discuss /address these policies rather that attack the policy maker.
Uneasy lies the head that wears the crown.

Making issues personal doesn’t benefit anyone...

Thanks, man. I appreciate.
The man's policies attacked me seriously, so I need to fire back devastatingly

yMcy56:
If to say Dominique has been alive to her duties, you would have got a ban by now, possibly a ban till 2033.

Where there's no law, there's no sin......but Ñairaland has rules that guides postings and so also penalty for defaulters.

Person dey correct you, you dey talk about headmistress or headmaster......
Kwantinu nah.... you'll get the ban you so wished for.

Now that you quoted my post.......

So talking about govt economic policy and CBN regulation of banks (which affect investments generally) in an investment forum is the reason for you to be interested or wishing that someone gets banned.

Good luck to you! May your wish be granted. I hope you will be happy and okay for now and ever.

essentialone:
You are lucky that this is not a WhatsApp Group. They would have removed you by now.

Everyone knows this is not a WhatsApp Group, so no need to re-emphasize it.
Nobody added anybody to this forum, that is why no one should be using ''headmaster'' or ''headmistress'' commanding tone when addressing someone else. The person that created this forum/section is not even the one issuing the commands!

I wonder when discussions about govt economic policies and CBN regulation of banks became political matters that cannot be discussed on an investment forum

No online post is compulsory for anyone to read or respond to.
Ignore any post that does not catch your fancy, as long as the post is neither abusive nor vulgar.

I don't think anyone here should arrogate to himself or herself the role of ''headmaster'' or ''headmistress'' on this forum!

ghm:
Seriously? You are free to commend anyone but don't be insensitive to people who lost values. You said depositors don't loose money, what about several thousands of investors whose live savings were wiped out when some banks went down. Intercontinental bank and Oceanic came to mind and the pains are still very fresh.

If the banks were mismanaged and they went down, then you blame the CEOs that looted and mismanaged the banks, not the CBN, even though the CBN may carry some of the blame for lax supervision.
That is why investors (shareholders) must always hold the managers (CEOs) accountable for every decision they make and not just be concerned about dividends and market value of their shares. Most shareholders do not know their power or role in checking the CEOs, hence the CEOs take advantage to misbehave.

Investing involves taking risks! You may gain or lose. It is the painful truth.
It would have been more devastating if depositors had lost their funds because that would have caused a huge systemic damage to the whole banking industry.
Even the current CBN has withdrawn the licence of Heritage and FGN also taken over Keystone Bank, but the depositors funds are kept intact, because that is the most critical. Investors are the third in hierarchy to be settled after depositors and creditors

zendi:
Since we're slowly succumbing to the politicisation of this place, let me just chip in this little remark:

There is the President.
And there is the Presidency.

Among the ways to rate Presidents is by the calibre and achievements of individuals they assembled around them. I rate highly the Presidents that appointed the following geniuses and others like them to avail the nation of their services, namely:

* Tam David-West.

* Ngozi Okonjo-Iweala.

* Charles Chukwuma Soludo.

There is a lot to be written about each of them, but people easily forget that the impacts made by these widely acclaimed stars were also the successes of the Presidents that appointed them.

Sanusi Lamido Sanusi also deserves some mention.
Soludo brought massive growth to the banking sector. But some rogue CEOs took advantage and nearly destroyed everything with their fraudulent and corrupt dealings
Sanusi was the man that brought sanity and discipline back into the system. He was able to sanitize the system and made the CEOs pay dearly for their sins without depositors losing any money. He also ensured the naira was stable during his tenure as CBN governor

megawealth01:
Nigeria Breweries hit N1 Trillion Revenue, VFD Reports Mega Profits, Nigerian Stocks Hit New Milestone!

https://nairametrics.com/2025/02/18/nigeria-breweries-hit-n1-trillion-revenue-vfd-reports-mega-profits-nigerian-stocks-hit-new-milestone/#google_vignette

@Mega, how would you rate these stocks in terms of potential growth in their current price in 1 year from now:
a. Nigerian Breweries
b. Access Bank
c. International Breweries
d. Oando
e. FCMB
F. UBA

GeneralDae:
Devalue oo, Float oo, not much advantage in one over the other without FX liquidity. CBN can declare their official rate as 500 naira today. The question would be: How many people can they provide dollars to at that rate?

You are being economical with the truth when you say this Government floated and it moved to 1500 at once. This Government floated from 462 to 750 in June 2023. When the parallel market rate began to move again in July 2023 and moved to 900 in August and 1300 in October, this Government left the official rate at 700/900 until Feb 1st 2024 when they floated again taking it from 800 to 1370 at once.

So this Government experimented with devaluation too from August 2023 to January 2024 but unlike Buhari decided to go with floating.

You can continue to hype your TPain and deny obvious economic realities on ground
Every objective observer and analyst knows the devastating effects of the reckless decision to float the naira and remove fuel subsidy at the same time. Now, they have to rebase inflation in order to hide their failures behind padded numbers. Desperados!

essentialone:
WILL OANDO PLC GAIN ANOTHER 529% THIS YEAR?

Lol
500% gain on Oando's CP no be joke ooo!
But they can achieve that in the long run if they are able to settle or manage the huge debts and generate good profits.

GeneralDae:
Abacha did not float, he left the official rate at 22 naira to a dollar until 1998 but the gap between the parallel market and official market only widened. The parallel market was then 88 naira to the dollar (4 times the official rate) as at 1998. The rates were unified in 1999. Why wasn’t it left at 22 naira?

Buhari also had to float the currency in 2016 after his adamant refusal to float in 2015 but he panicked when the parallel market rate moved again in 2017.

Buhari would have floated eventually in 2024 because the reserves were drying up and he even had to tie 7 Billion dollars out of it to JP Morgan in order to keep sustaining the naira.

Nobody wants to float, the problem is lack of dollars liquidity. This is why nations allow their currency stay at thesame level as the open market rates. With that, investors are sure that they could come in at the Bank rate and go out at the bank rate without losses. When there is dollar inflow, the open market rate would eventually converge with the official rate but how do you get the inflows short term if you can’t attract FPI’s consistently? How do you attract FPI’s consistently if you don’t float?

UAE is not floating. They are operating a fixed exchange rate but because they have the dollar reserves, their parallel market rate is thesame as the official rate.

So dollar liquidity is the key.

Buhari did not float the naira He only did gradual change of the exchange rate (devalued) from around N220 to about N350. around June 2016.
None of the past presidents ever floated the naira!
What they have done is to manage the exchange rate to ensure price stability.
Dont twist the facts!
Your TPain is the only one that floated the naira and the rate jumped from around N500 to N1,450 in one full swoop overnight. thereby throwing everything out of the window. The cpresident said he has increased allocations to state govts but the clueless mannot realize that states govts do not have the capacity or instruments to moderate macroeconomic issues like general inflation, exchange rate, cost of living, interest rates, fuel price etc which directly affect the lives and wellbeing of the general masses.

ololufemi:
Very valid pointa my brother. No matter what anyone says, GEJ as president was wasteful and incompetent despite the solid and erudite team he had. He could have turned things around and prevented us from what we are experiencing today in the hands of APC.

Many do not realise that Nigeria could have comfortably afforded to float its currency and remove petrol subsidy during his tenure but he chickened out and frittered away that golden opportunity after the ones Obasanjo and Yaradua had.

I usually tell people, the next administration will only meet and make things tougher because of the incompetence of the previous ones.

It's like your predecessor giving you a shovel or spade to use to fill a hole the size of ten football fields and 100 metres deep when he had a caterpillar payloader and literally sold it off.

From shovel na trowel the next person go collect from his predecessor to use do the work. 🤷🏽‍♂️

This analysis is funny!
Why don't you blame Obasanjo, Yardua and all previous presidents for not floating the naira as well? Why blame GEJ alone? What about Buhari, did he float the naira?
What has been the result of floating the naira? Has it improved the lot of Nigerians and the economy at large?
If you care to know, you weaken your economic base to the advantage of external stakeholders when you float your currency but clueless governments in Africa do it because they think they would earn more from their exports and forgetting that their imports will be more badly affected with greater multiplier effect.
Have you asked yourselves why most European countries like UK refuse to float their currency? The Asians e.g. Chinese don't even float their currency even though they have excess local capacity and can afford to produce at very cheap prices and export. We in Africa import virtually everything so we cannot afford such.

GeneralDae:
So if he didn’t float the currency like he did in 2023 and early 2024, how would he then open up the market to allow dollar inflow to see us keep servicing our debts and to pay airline backlogs?

Under GEJ, we had record high oil prices at an average of 100 dollars per barrel from 2011 to 2013 and very high production of at least 2.2 million bpd. We had never earned like that in our history. It was an opportunity to build our reserves from the $45 Billion he met it in 2010 to at least $60 Billion but no, it was depleted to $29 Billion in 2015. ECA account also depleted from $20 Billion to $2 Billion, debt moved from $15 Billion to $67 Billion yet this was the time we had our highest earnings in history. Buhari may have been clueless but GEJ gave him too much work to do.

Remember GEJ experienced no external threat like global economic meltdown Yaradua experienced in 2008 that saw him defend the naira and deplete the reserves from Obasanjo’s $64 Billion to $45 Billion nor did he experience COVID in 2020. GEJ had plenty and it was an opportunity for us.

a. Must Tinubu float the currency before Nigeria could service its debts? Were previous governments not servicing our debts even when the naira was not floated? I don't get it.!
b. Jonathan experienced high crude price at a time during his tenure, and lower crude price towards the end of his tenure.
c. Depletion of excess crude account is mainly due the reckless sharing amongst states without targeting it to tangible developmental projects. The ECA is also depleted under this govt. When did you hear of the ECA under Tinubu? Can you say the current balance in the ECA ? Have we not been selling crude above the budget price?
d. Which meaningful savings has Tinubu made with the removal of fuel subsidy, electricity tariff and floating of the naira?
e. What about the rise in the national debt under Buhari and Tinubu?
f. The effects of the global economic melt down was felt for years beyond 2008;
g. You said GEJ gave Buhari a lot of work to do. Who gave Tinubu work to do? You say Buhari was clueless but he was the one that awarded the contracts for the repairs and rehabilitation of the refineries and some rail projects
h. What was the human development index under GEJ compared to now?
i. Compare rate of inflation, interest rate, cost of living, incidence of poverty, hunger etc. between GEJ and TPain and tell me which was better.

Look, truth be told to he who cares to know. We are in a mess economically.
That is why a govt less than 2 years is desperately rushing to rebase the economy in order to whitewash the statistics to paint a better picture.