₦airaland Forum

If you are looking for a guide on how to make dollars in Nigeria, here is my unbias analysis of reasons you should do that now and my 3 tips to get started.

You will agree with me that Nigerians are currently experiencing a hard time as prices of almost everything have gone beyond the roof with no assurance that it will reverse anytime soon.

As SaharaReporters puts it "Nigeria's economy is in crisis. The naira has fallen over 50% in the last year alone. Oil revenues, the mainstay of Nigeria’s foreign earnings are at their lowest in the last two decades."

An ordinary man who is earning N100,000 monthly can't maintain the standard of living he enjoyed 5-7 years back or even have at least N20,000 to save in a bank account for future planning. No thanks, to the inflation rate reported to have touched an all-time high of 18%.



Let's do a simple calculation:

As at when I wrote this article, you could buy a bag of rice for N20,000 against N10,000 price level between 2010-2013, a surge by 100% caused by rising importation cost.

For someone earning N100,000 within those periods, that means, one could be left with N90,000 for other personal or household expenses. But now what happens? that net income has reduced by 11% to N80,000.

Hold on a bit! let's extend our bag of rice to other expenses like daily transport to work, shopping, etc, what do you think will be left after incurring all these expenses? absolutely nothing.

The Big Question?

Will this trend continue? Going by past trend, prices are not showing any sign of reversal as evident in the US/NGN exchange rate.

Source: http://makingmoneynigeria.com/how-to-make-dollars-in-nigeria-online-3-tips//

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Gionee has announced a super-power smartphone dubbed Gionee M2017:

https://cdn.gsmarena.com/imgroot/news/16/12/gionee-m2017/inline/gsmarena_001.png

What you should know in 10 seconds:

Display: 5.7-inch display of 2560 x 1440 pixel resolution
OS: Android 6.0 With Amigo 3.5 UI
Chipset: Snapdragon 653 SoC
RAM: 6GB
Storage: 128GB
Camera: 12 +13MP (Back) & 8MP Front
Battery: 7000 mAh (3500mAh x 2)

Source: http://www.browsingphone.com/gionee-m2017-price-in-nigeria-kenya-jumia-specs/

Slot Price List 2017 In Nigeria Naira - Latest Samsung Galaxy Infinix Tecno Gionee Huawei BlackBerry Nokia Lumia LG Lenovo Sony Xperia Apple iPhones iPad HTC Phones and Prices in Nigeria for January, February, March, April, May, June, July, August, September, October, November & December

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View All Latest Price List Here: http://www.browsingphone.com/slot-price-list-2017-nigeria-naira-latest/

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which one?

This personal finance guide contains legitimate tips on how to make money in US dollars right here in Nigeria, manage and multiply your portfolio.

Someone sent a message to me via WhatsApp and was curious to know how I make money in US dollars without travelling to the US. Initially, he thought that one can only make money in the country one is a resident. For instance, if you are live in Nigeria, you can only make money in Naira as that's the currency you will be paid in, for services rendered or salary earned.

Well! I didn't ignore the message, I engaged him in a chat and explained how anyone can take advantage of the opportunities online, sell his/her services abroad and receive payment into his/her bank account without meeting the buyer or whoever you are doing business with.

Note: I condemn internet fraud and will never advise anyone to do such an illegal business. You may be caught by anti-financial crime commission.

How to Make Money In US Dollars Online

You may be asking, 'Must it be online'? absolutely yes! You know why? Because I assume you are not travelling to the US from here and the only way you can connect to the US or do business abroad from home is to get your laptop online and find a platform to join.

From my personal experience, here are three legitimate ways you can make money in dollars from home.

I call it SSI strategy; Save in dollars, Start a business that makes money in dollars and Invest in a market with dollar return.

Source: http://makingmoneynigeria.com/how-to-make-money-in-us-dollars-online-nigeria/

In 2008, Trump revealed his plan for OPEC, and what he thought the cartel was, in an interview with Cramer of MadMoney.

https://i0.wp.com/oilandnairanews.com/wp-content/uploads/2016/12/trump.jpg?w=718
As culled from CNCB interview with the President-elect:

“Every time they lower interest rates the cartel, because I call it a cartel, the illegal monopoly, raises oil prices. So the monopoly, because that is all it is, it’s a total illegal monopoly — if businesses ever formed OPEC, everybody would be put in jail — here they are, and every time a country hits oil, they are invited into the cartel. It’s a disgrace,” Trump said.

The president-elect also noted that anytime interest rates nosedive, oil prices tend to surge. At that time, Oil traded at $100 region and was also predicted to edge higher.

“Nobody in this country calls and says get that goddamn oil price down. You get it down, and they can do it! In the old days our people, our presidents used to call. We don’t call anymore,” Trump said. “They ought to call, and they say you get that price down, and you get it down fast … if spoken to properly, those prices would come down like you wouldn’t believe,” Trump said.

By the time Trump will take over next year, He will definitely be in a position to do something about, which is a major factor to watch next year.

Source: http://oilandnairanews.com/trump-calls-opec-illegal-monopoly-revealed-plan-2008/

Here are QuickBooks Price In Nigeria & Kenya you can check:

QuickBooks Pro Price
1 User Licence (N90,000 – N110,000)/ from Ksh 3,000
2 User License (N170,000 – N190,000)/ from Ksh 6,000
3 User License ( N255,000 – N280,000)/ from Ksh 9,000
4 User License (N300,000 – N320,000)/ from Ksh 10,000
5 User License (N390,000 – 415,000)/ from Ksh 13,000
QuickBooks Premier Price
1 User License (N100,000 – N120,000)/ from Ksh 3,500
2 User License (195,000 – 220,000)/ from Kag 7,000
3 User License (270,000 – 310,000)/ from Ksh 9,000
4 User License (360,000 – N400,000)/ from Ksh 12,000
5 User License ( N450,000 – N500,000)/ from Ksh 13,500
QuickBooks Enterprise Price
1 User License (N450,000 – N500,000)/ from Ksh 13,500
2 User License (N589,500 – N720,000)/ from Ksh 19,000
4 User License (N980,000 – N1,020,000)/ from Ksh 32,000
5 User License (N1,200,000 – N1,300,000)/ from Kah 40,000
7 User License (N1,520,000 – N1,550,000)/ from Ksh 50,000
10 User License (2,500,000 – N2, 530,000)/ from Ksh 70,000
The price of these QuickBooks version varies and may change from time to time due exchange. I only shared what you should expect when looking for a genuine package here in Nigeria.

The version you select depends on the industry your business is;

Read Full Info And Contact Details Here: http://accountingsoftware.com.ng/buy-quickbooks-in-nigeria-kenya-software-sales-price/

Oil prices edged higher this morning (Thursday at Asia opening) after US crude inventories dropped 2.4 million barrels in the week that ended on Dec. 2 (compared with analyst expectations for a draw of 1 million barrels) but were quickly reversed to $53, by 9:30am (Nigerian time) after doubts over OPEC’s implementation of an output cut took a centre stage.

According to Jeffrey Halley, senior market analyst at OANDA brokerage in Singapore, “Momentum are currently dragged with mixed EIA crude inventories data and shale producers hedging via futures,”

Technically, Brent crude price has been consolidating around $53 key support region for two days as investors await the outcome of OPEC-Russia meeting this weekend in Austria’s capital to discuss the full details of last week agreement, which is aimed at restricting supply by 1.3 million barrel per day.

“Oil market might see a big rally next week to a new high, if both parties reach a definite agreement and concise plan otherwise, price may plunge to lower level, “, An analyst at OilAndNairaNews.com

Source: http://oilandnairanews.com/oil-price-headed-next-week/

The Naira on Wednesday, Dec, 7, maintained the same value (it fell at yesterday, Tuesday, Dec 6) against the dollar, Euro and Pound sterling.

You will recall that the local currency bowed to its major pair to trade at N485, N510 and N600 in the black market.

At CBN window, it remained at N315 per dollar and N401 per Pounds.

Several measures have been implemented by the CBN, including the raid of Bureau De Change by DSS on November 9, 2016, to balance the forex market but still, the Naira has depreciated most in its 43-year history.

Source: http://oilandnairanews.com/naira-wednesday-stayed-n4851-n6001-n5101e-black-market/

Morning Report: Oil prices fell on Wednesday early morning trade as investors doubt that last week agreement between OPEC and Russia will have a significant impact on excess crude supply.

Brent crude price is down by 27 cents to $53.66 at 6:31 am (Nigerian time), from the last market close.

OPEC ad Russia, last week, announced that they will cut output, but doubt has emerged as some investors feel that they are only restricting the excess output recently added.

“With both Russia and OPEC producing at record amounts, the market is scratching its head about how both blocs will manage to comply with the Vienna production cut targets. The point is valid, as the more OPEC and Russia produce, the higher the starting point will be to have to cut from,” said Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore.

Brent crude prices are trading at a major key level ($53.5-$53.73), after touching $55, a sign that investors are waiting for the next meeting between OPEC-Russia this weekend.

“…only fresh buying can drive crude oil prices higher above $55, and that depends on the outcome of OPEC-Russia meeting” Analyst at http://OilAndNairaNews.com

Sorce: http://oilandnairanews.com/oil-0-50-investors-doubt-impact-supply-cut/

The Central Bank of Nigeria has asked commercial banks to submit bids for a special currency auctioning targeted at fuel importers so that they can meet their maturing letter of credit. This was contained in a message sent to banks by the apex bank to submit backlogs dollar demand from fuel importers for special intervention.

https://oilandnairanews.com/wp-content/uploads/2016/12/FG-Order-CBN-SEC.jpg

Full Details: http://oilandnairanews.com/cbn-auction-dollars-fuel-import/

That's true

Oil gained nearly 15% this week to close at $54, one of its biggest weekly rallies since 2009. Price broke a key resistance level of $53.73 to begin a new uptrend after oil ministers confirmed that OPEC has reached a deal to tackle oil glut.

Some of the factors driving crude oil price:

OPEC-Russia deal to cut output by 1.5 million barrel per day (with Russian restricting her daily quota by 300,000 per barrel by next year). Oil jumped by 9% after the announcement on Wednesday.
The recent decision by the President-elect Donald Trump team to examine the proposal on a new non-nuclear sanction on Iran could send oil price to an another key level.
Oil Price Analysis:

Technically, the current market trend is up as seen on the higher highs, and higher lows formed on the daily chart. The first high (10/10/2016) was at $53.73, the second higher high (3/12/2016) at $54 while first low was 14/11/2016 at $44, and second higher low (29/11/2016) was at $45.96.

https://oilandnairanews.com/wp-content/uploads/2016/12/crude-oil.png
A further move to the north side is likely as long as crude oil price is above $50 psychological level, but not without a downside risk if you factor in the recent market supply.

“Global and US oil inventories are still at extremely high levels after two years of massive oversupply,” Societe Generale analysts said.
The production data coming out from Russia showed a rise to a new high in November (post-Soviet level) which is another reason there may be a limited upside (at least in the short term)
The full effect of the new OPEC deal, that’s if the member and non-member countries comply, as some analyst believe, will materialise at the end of first half 2017.

Next week, crude oil may slip (as investors look to take profit from initial rally) back to the resistance-turned-support level.

Oil price is not facing any resistance right now, as OPEC announcement dissipates, investors should follow emerging non-nuclear sanctions proposal and extension of Iran sanctions keenly.

Disclaimer: Analysis posted here are the opinion of the author and shouldn’t be taken as a basis for an investment decision. We are not liable for any loss or profit earned.

Source: http://oilandnairanews.com/oil-price-analysis-forecast-5th-9th-dec-2016/

Oro Freedom Fighters, one of the groups operating in the oil-rich Niger Delta region, has written an open letter to the operators of oil companies requesting for an immediate dialogue and negotiation on how to tackle the rising unemployment rate among Oronians amidst their operating and oil drilling activities in Oro river.

“We give people an ultimatum of two weeks to call for a meeting with the Oro Freedom Fighters effective 01-12-2016 to 01-01-2017.” the letter reads.

The group further stated that the chairman, CEOs and managing directors of the following under listed oil firms should be present:

1. Exxon Mobil Producing (Nig) unlimited,

2. Addax Petroleum Development Nigeria Ltd,

3. Oriental Energy Resource Limited,

4. Total E and P, Petrostuff Nigeria Limited,

5. Expo-Tech Nigeria Limited,

6. Moni-Pulo Nigeria Ltd

7. Gulf Agency Company (Gac)

8. Smith Lamnalco Nig Ltd,

9. Yinson/Fred Olsen Production,

10. Centrica Resources Nigeria Limited,

11. Universal Energy Resources Limited,

12. Afem Equity Resources,

13. Xixco Oil Nigeria Limited,

14. Denium Energy Nig Ltd,

15. Sinopec Nigeria Ltd

Source: http://oilandnairanews.com/oro-freedom-fighters-write-letter-15-oil-companies-calls-dialogue/

The Naira on Thursday continued its steady decline, a trend Alhaji Aminu Gwadabe, attributed to speculation, hoarding and growing zero confidence of international investors in the economy.

The chief of Association of Bureau De Change also stated that the existence of a Non-Derivable Forward (NDF) market in London that enjoyed the patronage of Nigerian companies and foreign investors contributed to dollar liquidity challenge.

According to him, the NDF market rate hovers around N430 to a dollar.

At the parallel market, the Naira exchanged at N483 to a dollar (against N480 recorded on Wednesday), while the pounds and Euro closed the day at N585 and N507 respectively.

At the BDC window, the local currency closed at N399, N585 and N506 to the dollars, pounds sterling and Euro respectively.

Travelex has cut its weekly dollar supply to 8000 from the initial 15,000 sales figure following acute dollar shortage.

The recent oil price increase that was triggered by production cut by OPEC dominant members should see the CBN generate some cash reserve.

Source: http://oilandnairanews.com/naira-spike-n483-speculation-hoarding-low-remittance/

Oil extended its rally on Thursday after OPEC members and Russia agreed to cut production output, a move some analyst believe will rebalance the market if all parties comply.

Yesterday (Wednesday), OPEC agreed to a first output reduction since 2008 after Saudi Arabia accepted a major share of the cut. This is the cartel’s first agreement with non-member Russia in almost 15 years.

If the deal wasn’t reached yesterday, the oil price would have fallen to a $40 per barrel, said Simon Flowers, chief analyst at consultancy Wood Mackenzie.

Brent crude oil traded at $50 after the output cut was announced and reached $54.23 (up by 4.78%) a barrel by 8.20pm (1925GMT).

The deal triggered increase trading volumes for February and March when the output reduction is expected to be visible.

Source: http://oilandnairanews.com/oil-price-hits-16-month-high-54-opec-output-cut/

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