₦airaland Forum

Iamgrey5:
FG own reserves Mr local economist.

The FG prints money inline with our anticipated revenue from crude oil sales in dollars not our reserves.

FG prints money anticipating crude oil sales? Lol.

TimeManager:
Stay on the topic, i don't have the time for silly whataboutism. He who alleges must prove, if you alleged government is paying subsidy, then who are the marketers collecting it?

-Kiss the truth!

There's different categories of subsidies. Not all involve cash payment

Price control is a form of indirect subsidy.

madridguy:
NLC should shut down everywhere if they want but NLC and TUC should have a rethink over the national grid.

Remember people at the hospital.

Remember little babies in incubator.

Remember women going for C&S

Lol. Palestinians use the same line after looking for trouble. 🤣

Aluta Continua!

They said give the government time to settle in. Time don expire.

Na to shut down oil production on top Tiffnubu head remain. Abacha treatment loading.

lol. North Korea is frustrated. The same way many Nigerians are frustrated and looking for who to fight.

yommen:
If you don't understand Yoruba, you should not comment because you need to listen to what the elderly man said. He said several governments have tried digging boreholes and wells but they are not able to break the rock underneath the ground.

So their problem is a peculiar one.

Na iron? If na crude shey they will break it abi? 🤣🤣

Jona

victory36:
Stylised theft

All I could say was, "My God! Bye-bye, Mobil, Chevron, and others. I guess it's time."

Terrible.

victory36:
not really. He would hand off the war between Israel and Palestine and only strike if Hamas does again. It's Ukraine that would go into Oblivion as Trump doesn't favour a war between us and Russia plus he dislikes NATO.

Lol. It was Trump that recognised Jerusalem as Israel's Capital by opening a US Embassy there.

handsomeyinka:
Come marry our brother here.
His name is Righteousness89..

His the best pastor online and on earth..

😄😄😄

Jokerman:
Trump is coming back whether the left, LGBTQ and their horses, like it or not

His coming back will bad for Palestinians.

Wow. Americans get money sha 😄

Konquest:
Ever since the global war on terrorism and more escalated, there have been several rules banning air travelers from bringing specific items on board planes. This laser pointer is when of such items. So, if you're planning to fly internationally, do a quick check on the items that you can OR cannot bring on board planes and you're good to go.

True. America allows it but Switzerland doesn't.

The development comes as the turnover of foreign exchange transactions dropped to $235.41 million on Thursday from $328 million on Tuesday

See why raising MPR does does not boost investor confidence when the rate of currency devalution exceeds the MPR?

CC SmartyPants.

StOla:
What has the shutdown got to do with any section of the country besides the economy of the country as a whole?

Do you have multinationals in the East?

If the economy of Nigeria is not conducive for foreign investors who require stability of currency exchange to make profit from their investments, are they not going to shit down in the places that they run their operation?

How many Nigerian owned manufacturing conglomerate have shut down?

Were you expecting them to shut down where they do not exist?

Some have previously argued that Lagos was a stand-alone economy. Made absolutely no sense and I told them so.

Love the old new national anthem. The drama surrounding it is a different matter entirely.

Lmao

qtx:
In the land of the blind

The one eyed man is king!

Tomorrow27:
Why did Afrobeat come last...just thinking aloud

Musical genre preference.

Ewedegubbler:
So which land are the Jews occupying since you acknowledged that the Romans occupied their lands from 70AD?

Thank you! Next thing he'll say is the Israelis are Europeans and not the original Jews. 😄

Blaze14k:
You know most of these guys started putting interest in business of recent. The guy has no clue on what he is talking about. I really don't know who is deceiving these people and its really dangerous cos those that went to university can easily be deceived as well

We can only educated them as much as we can. Not everytime be gbasgbos.

Reflect7:
“Though tribe and tongue may differ, in brotherhood we stand…”

Those words are like gunshots to the body of tribalists who have elevated ethnic loyalty OVER their Nigerianness.

They hate the fact that their kids will have to sing that line every day in school from now on.

Words are very powerful.

Just like Thought, they help create Reality.

We look forward to a more United and Cohesive federation.

Nigeria We Hail Thee. 🇳🇬

I have no issues with this anthem! I find both its melody and lyrics to be quite enjoyable.

We need musical artists to get to work right away. We need the rock, blues, pop, reggae, and Afrobeat versions.

Built2last:
Why is no one talking about

1. Them harbouring Hamas

2. Hamas using them as human shield

3. Hamas firing rockets into Israel even this week.

4. Hamas still has over 120 hostages and you want Israel to stop. You are mad. If its your papa they are holding will you say stop?

If i know that once i turn back, my enemy will come for my head. I will finish you.

So Israel can't turn back now. Its too late.

Exactly.

ShoeGetSize:
Today marks 209 days since Oct. 7, the day that the Hamas terrorist organization invaded Israel communities bordering the Gaza Strip, murdering some 1,200 innocent men, women and children, beheading some and burning some Israeli famines to death in their homes.

That day, Hamas also kidnapped 253 Israelis and foreign workers, dragging them into terror tunnels underneath Gaza, raping women and brutally torturing and sexually assaulting others.

I hate rapists with a passion.

SmartyPants:
Who said anything about monthly interest? How do you read all that and come up with monthly interest? You are definitely not okay. Obviously been a total waste of my time trying to explain a single thing to you.

Here 👇

Now if I bring in $100, change to N150k @ the rate of N1,500 and invest. If Naira devalues to N1,600 within a month, I would have lost a certain percentage on my invested funds. Naira has recently devalued faster than the MPR.

If the Naira devalued annually at less than the MPR then yes the MPR would give you value for your money as a foreign investor.

You can wake up tomorrow and the Naira has lost 20% of its value within 24hrs. So this scares investors that would have otherwise invested because of the increased MPR.

SmartyPants:
I don't know if some of you just come to Nairaland to argue as if your life depends on it.

You just mentioned that if you invest at 1500 and naira shifts to 1600, you have lost a certain percentage. Now, I've told you that these are not ordinary investors. These are people who invest in financial instruments. Don't you understand??

That means they earn a fixed interest rate at the same level or higher than the MPR. So if you invested at 1500, your profit is say 27%. If naira devalues to 1600, you lose about 7%. Now your profit is 27% minus 7% in this situation, so 20%.

I want to believe this makes it clear to you. Bye!

No! Lmao. The interest rate on financial instruments like bonds or mutual funds are per annum!

As at April 2024, treasury bills was approximately 21% interest rate per annum. To get the approximate monthly rate you need to divide by 12 which gives 1.75%. Or you can see the attachment I've provided for a more accurate calculation.

I'll soon start charging you for this free financial advice you are enjoying.

SmartyPants:
Lol. You think and behave like a toddler. Why are you telling me all these stories?

What I've shared with you is objective economics - this is how it works from London to Lagos to New York to Tokyo. You can google it you know? And the answer to your question is also staring you in the face.

If the MPR is so high that it outpaces dollar inflation, do investors make a profit or not? Use your brain bro.

When has London Economics worked in Nigeria?

Asking me to "Google" tells me you're not an investor. You probably don't even know what a $100 bill looks like except you check Google.

I guess you meant "Naira devalution" not "Dollar Inflation". The point of raising the MPR to attract foreign investors is simply for the investors to bring in their FX, change it to Naira, and invest in the Economy.

Now if I bring in $100, change to N150k @ the rate of N1,500 and invest. If Naira devalues to N1,600 within a month, I would have lost a certain percentage on my invested funds. Naira has recently devalued faster than the MPR.

Yes. Foreign investors don't invest their FX and take Naira returns back to their country. They take their capital/profits in FX. An unstable currency is bad for busines.

I actually feel sympathetic that I have to explain all of this to you. Even if you want to defend the government you can at least do some research. The fact that you're not an investor is not an excuse.

SmartyPants:
Lol. Bro, sincerely you are a foolish person.

I only explained some basics to you. I have no idea why you're attacking me - would you attack your economics teacher in school because you don't like the president? Lol.

Hahaha. I know a typical agbado warrior typing from under ogbomosho bridge when I see one.

Not all of you are of the same class and mental level. At least I've had useful debates with legend.hero and others that don't even reside in Nigeria.

It is usually the local supporters that talk nonsense they cannot defend. Then add street talk to seem smart and go further to like their comments with their own monikers.

Again, why would I change my USD to invest in Naira when I know that the Naira is unstable? Answer simply. If you don't know just say you don't know. 😄

SmartyPants:
You know nothing at all. Just as our primitive ancestors did, that which you do not understand you ascribe to voodoo. A thoroughly bush fellow you are!



Now that your scolding is out of the way, what you need to know is that foreigners invest in our financial instruments. Now when the interest rates are raised, this triggers an uptick in such investment, called foreign portfolio investment.

Do you understand or it still sounds like voodoo to your vacuous mind?

Lmao! Invest with the current unstable currency?

Like Tinubu like supporters. No wonder the Economy is in shambles. 😅

futurerex:
He doesn't know what he's wearing.

He does. He doesn't care. Shirt na shirt.

Blaze14k:
What tinubu is doing now clearly shows he is using Nigerians to make money. How can you tell me dollar can possibly crash with speed of light and still go back up again and you feel there nothing wrong. You guys voted in a criminal

Correct. They are the main speculators cashing out heavily from naira devalutuon.