₦airaland Forum

Obidients will sha wail ni sha

SoNature:
Much of the FX used to sustain this economy is borrowed. The last time was over $3 billion from Afrexim Bank. Thank God for oil and gas. If not, only God knows how we would have survived.

The FG has gotten just $2 billion plus from afrexim, the FG will get the rest of the money next month.

Iran will retaliate

Dalohad:
Ol boy, you are not an exporting country. All these gra-gra of using forex reserves to defend a worthless currency won't work in the long term. Na just stop-gap measures, not sustainable in the long run.

Nigeria exported more than what we imported last year

Dalohad:
Wake me up when the reserves finish..

When you go com wake up bayi?

The exchange rate will be 2000/$ in April in the mud.

AqualinaXYZ:
Breaking news





Inflation under Tinubu hits 65% the worst of all time

Stop breaking rule 8

Having opened at N1,130 to the dollar on Monday morning, the value of the naira gained strength midday as traders anticipate another round of dollar sales to Bureau de Change (BDC) operators this week.

By noon on Monday, the naira was selling at N1,000 to the dollar at the parallel market. Last week Monday, the Central Bank of Nigeria (CBN) had offered $15.88 million to BDC operators at N1,101 to the dollar, pushing up the value of the naira on the streets.



The CBN sells dollars to the BDCs at the lower band of rate quoted on the Nigeria Autonomous Foreign Exchange Market (NAFEM). Last week Friday the value of the naira was between N1,265 and N1,100 to the dollar.


In anticipation of another liquidity push out by the apex bank, the value of the naira which opened trading activities on the parallel market at N1,130 to the dollar had firmed up to N1,000 by midday.

This corroborates with the projection of US Bank Goldman Sachs which at the weekend projected that the naira will be trading at N1,000. Goldman Sachs Group Inc, had projected that the naira will be among the best performing currencies in the world.

Having predicted in February that the naira would strengthen to N1,200 per dollar this year, Goldman economists, say they see it potentially advancing beyond that level after a raft of measures by the central bank.


Those included 600 basis points of cumulative interest-rate increases at policy meetings in February and March, as well as other steps to ease the local scarcity of dollars that fanned volatility and forced companies to the parallel market.


Goldman’s Andrew Matheny told Bloomberg Newswire in an interview that “this probably can run further; we would see an extension of the move to 1,000 and maybe even sub-1,000, six weeks have gone by and they’re continuing to hold the line, so that’s encouraging.”

The group maintains its 12-month forecast for the naira at 1,200 per dollar, owing to uncertainty around the ability of the authorities to maintain the reform tempo, though it now sees risks to that upbeat projection.


https://leadership.ng/just-in-naira-hits-n1000-ahead-of-cbn-sale-to-bdcs/

lexy2014:
will it fall in may the way port-harcourt refinery was supposed to work in december 2023?

Yes

proeast:
Tinubu is really behaving like a drowning man, who pulls at anything he can grab, out of desperation to stay alive. All these are obviously a poorly written script.

I hate desperate people with such mentality of either I have my way or everyone perishes, that’s the height of selfishness. On one hand, I like what is happening because it’s karma at work. These Northerners knew Obi was far better than Tinubu in every aspects yet many of them allowed Tinubu to deceive them.

We warned them but they never listened, now it’s too late. The monster they fed has grown so big they can’t even control it again.

The only chance they have now is to massively support Obi. A strong coalition of Obi with another popular politician from North will sweep Tinubu away, and not even Yakubu will dare rewrite the result.

Tinubu is playing a very dangerous game. He has continued to promote Yoruba nationalism against national interests. He is doing it on purpose, so that should he be removed, they will see him as a hero and fight back, using Lagos as their base.


If Obi becomes president based on popular national mandate, tinubus plan will fail woefully. But should he complete 8 years, North will not recover from it again. The distancing of middle belt from the core North and the pervasive insecurity, coupled with collapse of their agricultural and industrial sectors have left them completely vulnerable.

Almost every northern politician, except those benefiting or working with Tinubu, are totally disappointed with him. Yet, they appear helpless. Obi becoming president in 2027, will rally SS, SE, MB and even North, as well as educated Yorubas. It will give him a pan Nigerian mandate that will enable him to effectively counter any move from Tinubu. Luckily for them, secession movements in the East has reduced drastically in recent times. So, even if Tinubu decides to resurrect Yoruba nation agitation, it will be easily curtailed.

Atiku must not be allowed to contest again, otherwise it will be a repeat of 2023.

If the North decides to act foolishly again by not supporting Obi…

Should Tinubu get re-elected in 2027….

Lol

Be ready to do this till 2031

saintopus:
Okay good then, but train for better pass

There will be a room for construction of rail tracks at the middle of the road

blacknp:
Guy I beg, no make me laughter more, broke rule 2 indeed.

Which of your friend works in Dangote’s refinery, or you want us to report you for telling lies, & spreading fake news on Nairaland?

No wonder you dey call yourself paramedics.

k

nedekid:
That is what we are praying for and expect to see, but for now, it is still elusive. I bought ₦1450 yesterday. Some Nnpc sell for 1390, but with heavily modified pumps (of you know what I mean).
Dangote sells for 1250-1300 per liter depending on quantity bought. Funny thing is that 1250 is the landing price for imported diesel, so how come dangote sells so high considering no shipping cost, port charges, import taxes etc. At 1250, dangote has made no difference because by the time transportation and petrol station markup is added, the diesel will be 1500 at the pump!
The good thing I have seen so far is the quality of diesel. Your commonrail system ie injectors will work better. Folks can now import and use modern diesel cars without fear of breakdown.
Note also if the price remains high, stations will continue adulterating diesel to make a decent margin.

You don't know how much dollar was when he bought crude oil

honestivo:
Dangote products as never be of help to Nigerian

Base on the fact that we're going to stop importing refined petroleum, it's a big help

whatisthetruth:
50MW power currently generated for 200 million people, meanwhile some minister is going to use 17 trillion to construct some new road that probably won't be completed, going by antecedents.

Black people sure know how to rule themselves.

The whiteman is bad, but black man is very brilliant.

You're talking as if the FG is not doing anything in the power sector.

It's not possible... It won't stand

Inside life... There was a time obidients and obasanjo were mocking Tinubu because he's called the national leader of the APC

[quote author=OChimex post=129452094][/quote]So what do this have to do with my comment oga?

Fake video by Lagos Ibadan news

I know someone who's working at the Dangote refinery and he said the refinery will start working in third quarter of 2026.

Nah on top nairaland I dey hear of this collapse. There's light in my area

Racoon:
These are the basic staple foodstuffs the common man depends upon. Dollar going down but food inflation and insecurity everywhere

The two issue didn't start under Tinubu. Tinubu will solve the issues sha.

Dollar is affecting yam, akpu and garri ;

Men like Pastor Kumuyi and Pastor Kumuyi won't behave the way eneche did.

excanny:
Dey play

I have some friends who were laughing at me when I told them naira won't trade beyond 2000/$ before it starts falling. They are now regretting because some of them bought dollars when it was between 1780-1920/$.

In the construction industry, the price of construction materials has been falling for more than 4 weeks. Price of foreign rice is now falling too. foreign rice that was almost sold for 97k is now sold for 58k to 67k, depending on seller and location.

AqualinaXYZ:
Una don shift am go may




Wonderful

Who be the una? Is there a time I told you inflation will fall in February, January or March?

You stole billions of naira that belong to the public, and you think you won't be prosecuted? They play

jazzman7711:
So he should bask in the euphoria of death?

Can’t you see you’ve lost your mind?

Tomorrow you will call yourself a Christian.

I'm even shock he's behaving the way he's doing because of my harmless comment.