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Oilwell's Posts

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PoliticsRe: What Exactly Is Peter Obi Doing In Anambra State? by Oilwell(m): 10:42am On Feb 08, 2024
@ lexylaw40kuti you no get work oh. once in a while you will go and type something so the tread will surface.

Joblessness at its peak.
PoliticsRe: FG Raises Exchange Rate For Cargo Clearance From N952/$ To N1,356/$ !!!! by Oilwell(op): 10:26am On Feb 03, 2024
May God have mercy
PoliticsRe: FG Raises Exchange Rate For Cargo Clearance From N952/$ To N1,356/$ !!!! by Oilwell(op): 10:22pm On Feb 02, 2024
FreeStuffsNG:
The arbitrage in that sector is so bad that keeping a different rate for the sector can frustrate CBN's attempt to maintain the naira float. I believe that FG should give the players tax rebate or some form of protectionist policies to help the importers set up here in Nigeria.

It's still early days in the float , I believe a comprehensive sector wide understanding of how to support each sector is ongoing. Just a little patience will pay off eventually.

At least for now, our hard earned forex is no longer being cornered to defend the naira or ship overseas as petrol subsidy which our debt to revenue ratio has reduced significantly freeing up money for FG to put in the economy.

God bless Nigeria for ever! Check my signature for free stuffs!
A little patience for the suffering masses. While Tinubu is in France spending in Euros(€). Abi he is spending in Naira over there?
PoliticsRe: FG Raises Exchange Rate For Cargo Clearance From N952/$ To N1,356/$ !!!! by Oilwell(op):
The prices of goods and services will skyrocket like never seen before.
PoliticsFG Raises Exchange Rate For Cargo Clearance From N952/$ To N1,356/$ !!!! by Oilwell(op): 9:57pm On Feb 02, 2024
The federal government, through the Central Bank of Nigeria, has raised the exchange rate for cargo clearance from N952 per dollar to N1.356 per dollar.

The government in November 2023 raised the exchange rate for cargo clearance from N757 per dollar to N783 per dollar, representing a 3.4 per cent increase. Barely one month later, it raised it from N783/$ to N952/$ in December.

Now, it has been raised again from N952 per dollar to N1.356 per dollar.

The Nigeria Customs Service has started using the new rate in its dealings.

A member of the Association of Nigerian Licensed Customs Agents, Remilekun Sikiru, in a chat with Punch, decried the increase.

Sikiru said, “How do we explain this? From N952/$ to N1.4/$ as of Friday morning with about N404 increase?

"It’s quite unfortunate that the prices of goods and commodities will automatically increase. Importation would further decrease and depreciate, vehicle prices would skyrocket again.

“Since this unification of a thing, the government has refused to look inward and critically into the maritime industry as regards importation and exportation."

He lamented that the sector had been neglected and things were getting worse by the day. "The question now is, how would freight forwarders and customs brokers agents cope with this new rate?”

Also speaking, an agent, Ben Anya, said that they woke up to the new rate, “which was before now set at N951 per dollar.”

Anya explained that with the latest increase in the exchange rate, the cost of clearing would increase.

“And this would also affect the cost of goods in the market. It would also lead to a drop in importation,” he said.


https://www.lindaikejisblog.com/2024/2/fg-raises-exchange-rate-for-cargo-clearance-from-n952-to-n1356-2.html

https://punchng.com/just-in-fg-raises-exchange-rate-for-cargo-clearance-to-n1356/?utm_source=telegram&utm_medium=social
PoliticsRe: Russia Oil Is Currently Cheaper. Why Dangote Can’t Buy From Russia? by Oilwell(m): 10:36pm On Feb 01, 2024
Dangote refinery was not conceived for commercial activities . It is an SPV for money...........

I am a senior manager in the project. If you know you know.
PoliticsRe: Why It Is Dangerous To Speculate On NGN/USD by Oilwell(m): 9:19am On Jan 28, 2024
Birdbyrde440:
Based on your advice to stack up on dollars and some average joe reads it and buys dollar at the current black market rates of 1450/$
And tomorrow Tinubu decides to clear all backlogs and floods the system with $20bn to banks to sell to people at 900/$... as a result more people go to the bank to get their dollars instead of black market and as a result bureau de change rates drops and aligns with the bank rate of 900/$
Based on your advice, that average joe has lost more than 1/3 of their money.
So understanding the system is crucial.

If it goes down to $900. we will even buy more because like Garri it will surely rise again.

When nepotism and tribalism is the order of the day of any government, you can easily predict the economy.
PoliticsRe: Why It Is Dangerous To Speculate On NGN/USD by Oilwell(m): 7:33am On Jan 28, 2024
Birdbyrde440:
Why is your life full of emotional sentiments?
I asked you to defend your position you are busy posting screen shots
My position is stack up enough dollars and invest in landed properties. A government way no fit control the regular market na black market them fit control?


One may have the political structure to win elections but does he have the Economic structure to handle the economy?
PoliticsRe: Why It Is Dangerous To Speculate On NGN/USD by Oilwell(m): 7:03am On Jan 28, 2024
Birdbyrde440:
(If I ask you why now you will fumble. Watch.)

Why do you say that?

PoliticsRe: Why It Is Dangerous To Speculate On NGN/USD by Oilwell(m): 6:48am On Jan 28, 2024
Its either you are dull or you are a type of person that sees the truth and looks the other way( A hypocrite).

PoliticsRe: "Peter Obi's Son Is Gay" by Oilwell(m): 2:51pm On Jan 27, 2024
wediehere1:
papa gay
Pikin gay
Take gay swear for una?
Agbado Daughter for UK no be gay queen, sleeps with even cats

PoliticsRe: "Peter Obi's Son Is Gay" by Oilwell(m): 1:32pm On Jan 27, 2024
Dollar is > N1450 and children of perdition wey never chop are talking of Peter Obi's Son.

Its not by my turn oh, Its character, discipline and what you can do.

Appointing square pegs in round holes.
PoliticsRe: Peter Obi Son,oseloka Obi Features In UK Gay Magazine by Oilwell(m):
Dollar is > N1450 and children of perdition wey never chop are talking of Peter Obi's Son.

Its not by my turn oh, Its character, discipline and what you can do.

Appointing square pegs in round holes.

PoliticsRe: Gay Scandal - Why Is Obi Never With His Wife? by Oilwell(m): 4:48pm On Jan 26, 2024
Dollar is > N1400 and children of perdition wey never chop are talking if Peter Obi.
BusinessRe: Naira Depreciates To N1,250/$ In Parallel Market by Oilwell(op): 3:59pm On Jan 05, 2024
It is well
BusinessNaira Depreciates To N1,250/$ In Parallel Market by Oilwell(op): 11:53pm On Jan 04, 2024
By Elizabeth Adegbesan

The naira yesterday depreciated to N1,250 per dollar in the parallel market from N1, 240 per dollar last weekend.

Similarly, the naira yesterday depreciated to N988.46 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N988.46 per dollar from N907.11 per dollar last Friday, indicating N81.35 depreciation for the naira.

Consequently, the gap between the official and parallel market exchange rates narrowed to N261.54 per dollar yesterday from N332.89 per dollar last week Friday.


https://www.vanguardngr.com/2024/01/naira-depreciates-to-n1250-in-parallel-market/
PoliticsRe: Breaking News: December Salary To Be Paid After Christmas First Time Ever by Oilwell(m): 2:57pm On Dec 24, 2023
Peter Obi appointed a minister who is not aware that you make provisions for December Salary and pay workers before Christmas.


Peter you no try for this one oh.
PoliticsRe: Yuletide: United Nigeria Chairman Spreads Joy With Distribution Of Rice, Cash by Oilwell(m): 2:40pm On Dec 24, 2023
May God bless you Dikeora.
PoliticsRe: Henry Ajomale: Buhari Left Huge Mess For Tinubu – Ex-Lagos APC Chairman by Oilwell(m): 2:35pm On Dec 24, 2023
Lastmankc:
May your family be scattered the way buhari and BAT scattered Nigeria
Amen for that werey
PoliticsRe: Nigeria At COP28: Separating The Facts From Fiction by Oilwell(m):
Na who sponsor the person in the red box below

PoliticsRe: Kyari Confirms Port Harcourt Refinery To Take Off In December 2023 by Oilwell(m): 5:35pm On Nov 24, 2023
My Ex colleague that works with montego now one of the indigineous contractors on that project informed me last month that by June 2024, the PH refinery will not be ready.

We both stay in PH
PoliticsRe: Who Also Notice The Improvement In Security by Oilwell(m): 8:16pm On Nov 23, 2023
NDI Eri ri Eri. I dey see una doings as per N30K monthly
PoliticsRe: Mr Peter Obi Caught Lying About The US President's Meal Expenses? by Oilwell(m): 12:17pm On Nov 23, 2023
BusinessRe: Inflation Rate: Monetary Policies Yielding Desired Results, Says CBN by Oilwell(m): 9:46pm On Nov 16, 2023
The Nigerian currency, the Naira, rose to 1140 on the Parallel market on Thursday, November 16 even as inflation soars to its highest record in two decades.


On Wednesday, the country’s currency maintained relative stability as it traded at N1120 against the Dollar on, the same rate quoted on Tuesday.


The development comes as the National Bureau of Statistics’ latest Consumer Price Index data puts the October inflation rate at 27.33 per cent from 26.72 per cent in September.


The latest inflation rate in Nigeria represents the highest in two decades.


https://www.lindaikejisblog.com/2023/11/naira-goes-up-to-1140-against-us-dollar-at-parallel-market-as-inflation-soars-to-highest-in-two-decades-2.html
PoliticsBreaking - Naira Goes Up To 1140 Against US Dollar At Parallel Market by Oilwell(op):
The Nigerian currency, the Naira, rose to 1140 on the Parallel market on Thursday, November 16 even as inflation soars to its highest record in two decades.


On Wednesday, the country’s currency maintained relative stability as it traded at N1120 against the Dollar on, the same rate quoted on Tuesday.


The development comes as the National Bureau of Statistics’ latest Consumer Price Index data puts the October inflation rate at 27.33 per cent from 26.72 per cent in September.


The latest inflation rate in Nigeria represents the highest in two decades.


https://www.lindaikejisblog.com/2023/11/naira-goes-up-to-1140-against-us-dollar-at-parallel-market-as-inflation-soars-to-highest-in-two-decades-2.html
PoliticsRe: Your Experience As Lagos Governor Not Enough To Run Federal Govt – Rewane Tells by Oilwell(m): 4:34pm On Nov 16, 2023
Naija no be Lagos las las
PoliticsRe: Obi Is Useless, Abi? by Oilwell(m): 6:19pm On Sep 24, 2023
Bliss24:
Good for you, add that to your resume if it makes you feel good
Helinues Welcome Bro on your new moniker.
Foreign AffairsRe: Breaking News: Coup In Congo by Oilwell(m): 8:16pm On Sep 17, 2023
BREAKING NEWS: Military coup in the Congo at this time.The country's president is in New York, the military is taking control of key facilities in the capital.

Its getting closer

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