₦airaland Forum

Good One

Ganduje is one of the Northern Governors who fought for him

Thanksful:
Nigerians are just stupid. Why should court declare you chairman? Are you going to chair the court?

Nigerians are not stupid.

Pandora is a desperate and a dangerous Christian Fanatics

gidgiddy:
What happened in Awgbu was a community clash between two groups, it can happen anywhere

It can't happen anywhere

I love what the Arabs are doing

They are neutral in this war


Africa should also be neutral

PepeXKermit:
Kenya, is doing Far better and bigger than Nigeria in tech.

Stop disgracing yourself

African crude imports to India have reached a 22-year low, with India’s oil imports from Russia reaching a record high in April, reducing the share of Middle Eastern and African grades.

India became Russia’s largest buyer of seaborne crude in December 2022, with imports of around 1.22 million barrels per day. Since December, inbound shipments have been consistently over 1.22 million barrels per day.

Nigeria, previously India’s top crude importer, may see reduced crude oil export earnings as India focuses on cheaper Russian crude, posing a risk to Nigeria’s foreign exchange revenues.
African crude imports to India have reached their lowest level in 22 years. Reuters reports that India’s oil imports from Russia rose to a fresh record high in April, further reducing the share of Middle Eastern and African grades to their lowest level in at least 22 years.

According to reports, India has been predominantly importing crude, mostly from Russia, while ignoring crude markets in West Africa and the Middle East. India imported about 1.9 million barrels per day (bpd) of Russian oil in April, which accounts for about two-fifths of the country’s overall purchases.

Why Russian crude?

Russia has remained the top oil supplier to India for the sixth straight month in April. This is because India is getting Russian oil at very low prices.

According to energy intelligence firm Vortexa, India became Russia’s largest buyer of seaborne crude in December 2022, with imports of around 1.22 million barrels per day.

Since December, inbound shipments have been consistently over 1.22 million barrels per day. Meanwhile, private refiners such as Reliance Industries and Nayara Energy accounted for almost 46% of the total imports from Russia.



Impact on Nigeria’s crude

India has been Nigeria’s top crude importer; however, the former’s preference for Russian crude oil could reduce the country’s crude oil export earnings from India. In its December 2022 Foreign Trade report, the National Bureau of Statistics (NBS) stated that crude oil exports fell by 21.2% to N4.66 trillion in Q3 2022 from N5.91 trillion recorded in Q2 2022.

But prior to that, the third wave of the coronavirus pandemic experienced in India in April 2021, impacted Nigeria’s crude oil exports to India. At that time, India reduced crude oil imports by $39.5 billion.

Currently, Nigeria is still exporting to India, however, the latter imports crude from Russia, and being Nigeria’s largest crude importer in the last couple of years, this focus on cheap crude from Russia poses a risk to Nigeria’s foreign exchange revenues.


What you should know

Hindu Business Line reports that the Vice President & Co-Group Head of Corporate Ratings at India’s credit rating agency, ICRA Limited, Prashant Vasisht, said Indian imports of Russian crude oil have increased substantially now as opposed to earlier years due to the discount on landed cost basis.

Vasisht believes India would continue to maximize imports of Russian crude going forward as well. Note that the discounts on Russian crude are in the range of $10-15 per barrel. He said:

“The discounts are likely to continue, given the price cap and embargo on Russian energy imports by the G-7 and EU. Accordingly, India would continue to maximize Russia’s crude oil purchases.”


https://nairametrics.com/2023/05/20/why-india-favors-russian-crude-over-african-crude/

BossGerald:
So buhari is now useless??

When did this one start??

I've never being a supporter of Buhari neither did I voted for him.

The total number of mobile subscriptions in Nigeria dropped by 1.01 million to 225.82 million in March 2023, indicating a 0.45 percent decrease, according to the latest industry statistics from the Nigerian Communications Commission.

This shows a decline in growth in the telecommunications sector for the first time in almost two years as mobile subscriptions have recorded a steady growth since June 2021.

The total number of mobile subscriptions fell from 226.84 million in February 2023 to 225.82 million in March 2023. However, the data from NCC indicated a 3.59 million increase from the 222.23 million mobile subscriptions in December 2022.

Though MTN maintains its position as the largest telecom provider with 91.55 million mobile subscriptions, it recorded a decline compared to 91.71 million subscribers in February. On the other hand, other telecom providers recorded an increase.

While Globacom ranked second with 60.79 million, Airtel followed with 60.33 million, and 9mobile with 13.14 million mobile subscriptions. On a year-on-year basis, a significant increase was recorded in mobile subscriptions from 199.20 million in March 2022 to 225.84 million in March 2023.

Teledensity, which refers to the number of active telephone connections per 100 inhabitants living within an area, fell to 118.48 percent in March as against 119.01 percent in February. Mobile Internet subscriptions grew to 156.98 million, with broadband penetration rising to 53.50 percent and subscriptions declining to 92.03 million.


According to telecommunication companies, the slight decline might be due to the high rate of inflation, petrol, and cash shortages during the period under review.

In its Q1 2023 Earnings Release, the Chief Executive Officer, of MTN Nigeria, Karl Toriola, stated that the firm continued to experience headwinds in its operating environment in the first quarter of 2023 as it navigates a challenging working environment.

“The impacts of the ongoing global macroeconomic and geopolitical developments on energy, food, and general inflation were exacerbated locally by petrol and cash shortages experienced during the period. This placed additional pressure on economic activity, consumers, and businesses.

“The private sector experienced the deepest contraction in March 2023 since the recovery from the COVID-19 pandemic, driving down the PMI index to 42.3 points from 44.7 points in February 2023. The inflation rate in Nigeria rose to a 17-year high of 22% in March 2023, representing the third consecutive month-on-month increase in 2023, with an average of 21.9% in the quarter. In addition, supply chains were compounded by exchange rate volatility and the availability of foreign currency needed for capex,” the CEO said.

The new industry statistics further showed that the telecommunications sector contributed 13.55 percent to the overall Gross Domestic Product of Nigeria in Q4 2022 compared to 12.84 percent in Q3 2022 and 12.61 percent in Q4 2021, indicating a quarter-on-quarter and year-on-year increase.


https://punchng.com/mobile-subscriptions-fall-by-over-one-million/

Emir8:
Alex Otti will be sworn in on May 29 2023. LP will apply for stay of execution and vacate the order.

No o, the Case must be first settled at the Supreme Court before he is sworn in

He's the LP Chairman

So is no big deal

So Owerri is more develop than Ikeja

Good one

We do not want the terrorists to attack the LP Chairman again.

Make dem no Appeal am nah since the nullification won't stand

On Asiwaju Bola Ahmed Tinubu and Senator Kashim Shettima Mandate I Stand Gidigba

Olabukola11:
Is Shettima(Double nomination) not gonna fall in this trap?

Obi is not an APC member, only an APC member can complain about it and get a favorable judgement. Obi is not an APC member and won't get a favorable judgement.

Angelfrost:
I pity Abia citizens...! They are the actual losers here!

Just like Imo state citizens years back!

Now, they about to have a governor imposed on them, who they will never support or accept!

Nigeria's democracy is no different from George Orwell's Animal Farm!

The same thing also happened in Anambra State when the Court imposed Obi on the People Of Anambra State

xevove2061:
Inec is not even following the electoral act, but they can disqualify candidates and candidatures that according to them, did not follow the electoral act. Omo this country. Nothimg you no go fit see. We need another war to start afresh

War will only happen in your family

maestroferddi:
Too difficult for you to understand, of course...

The joke is on you 🤡

maestroferddi:
YA A court of competent jurisdiction will decide...

A Court of competent jurisdiction have already decided.

The LP have no candidate in the 2023 General Election

youngsahito:
so APC always follow due process

Yes!

maestroferddi:
Atiku is in Nigeria and Peter Obi is in Nigeria, why is your man being pursued by strange forces?

Lawyers do their job but ask his team of lawyers whether they wouldn't rather he is around to provide direction and context from time to time...

He has run out of the country twice in less than two months....

No be juju be that?!

Leave all this your shalaye

Asiwaju won't attend the Tribunal

Asiwaju is bigger than the Tribunal

Eruifelsits:
In ur dreams. They lack the jurisdiction to offer such judgement for Abias

You mean a Federal High Court in Kano have no jurisdiction in Abia State?

Penguin2 you need to educate your fellow Pandorian

Penguin2:
How many days has an aggrieved party to file for redress after the conduct of a party primary?

Did the Labour Party submit her membership register to INEC within 30 days before their primaries?

Bringbackmandat:
no the only recognize chairman is Tinubu the drug lord. Are you happy now?

Yes

And the LP does not have any candidate in the 2023 General Election

youngsahito:
Why are some people happy over this high court judgement, don't we want our democracy to produce more political party to fight the corrupt APC and PDP. I'm so ashamed for the thinking of 9ja youth this time around yet we complained about anything those greedy politicians present to us.
Labour party is not only for Obi so let's support the new party for the development of democracy in Nigeria.

We sane Nigerians will never support Illegality

Any Party that does not follow due process will face this kind of calamity

maestroferddi:
If your oga get lever, let him stop running from one country to the other and come and defend his "mandate'...

Obidunze no dey get Sense at all

So are you trying to say nobody is defending the President Elect, Asiwaju Bola Ahmed Tinubu at the Tribunal?

Dshocker:
I said before, and i will say it again; Your level of olodo no get part two, na why you dey always fail exam, despite the publication released yesterday on the issue, reinstating Abure as the national chairman.

Better find an intelligent woman and marry, otherwise, your poor IQ level might affect them.

Abeg Leave Your Garbage Opinion For LAWMAN to deal with

Abure is not a member of the LP.

In fact, the LP didn't partake in the 2023 General Election

maestroferddi:
You speak like a stark illiterate...

You celebrated Oyetola's "victory" and how did it end?

The reckless ruling will be challenged and thrown out asap...

Alex Otti will be sworn in ...Mark my words...

Why are you crying in Pains 🤡?

You Zombidiots rejoiced when Lawan was Choosen by Adamu as the consensus candidate

All of you eventually Lule las las 🤡

The law is clear on this issue, the LP will lose at the Appeal and Supreme Court

LP have no candidate in the 2023 General Election