Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,162,978 members, 7,852,300 topics. Date: Thursday, 06 June 2024 at 03:38 PM

Paraman's Posts

Nairaland Forum / Paraman's Profile / Paraman's Posts

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (of 141 pages)

Business / Re: Naira Stays At 1,339.33/$ As FX Turnover Jumps To $328.32m by Paraman: 8:29am On May 29
OmotolaDeniro:
Ebimpawa ooooo Tinubu werey man
Go chop if you're hungry
Business / Re: Naira Stays At 1,339.33/$ As FX Turnover Jumps To $328.32m by Paraman: 7:38am On May 29
800/$ before the end of July
Politics / Re: Crisis At Best Way, Iwo Road, Ibadan. by Paraman: 7:36am On May 29
proeast:
When a region celebrates social deviants like MC Oluomo, Portable, Tinubu, HBD Dende etc, such society will eventually self destruct. This is only the beginning because their younger generation no longer believe in school, hardwork or honesty.

I pity them!
The ones supporting IPOB and ESN/UGM has made the south east the most peaceful region in the universe.
Business / Naira Stays At 1,339.33/$ As FX Turnover Jumps To $328.32m by Paraman: 7:31am On May 29
The Nigerian currency, Naira, stayed at 1,339.33 against the United States dollar for the second consecutive day on Tuesday, its strongest since April 26, 2024.

However, the foreign exchange turnover rose significantly from $180.80 million on Monday to $328.32 million at the close of trading on Tuesday, indicating 81.59 per cent appreciation, which signalled renewed activity and demand in the foreign currency market.

At the official currency window domiciled on the FMDQ platform, the naira traded at an intra-day high of 1,506/dollar (Monday: N1,501) and a low of 1,150/dollar, stronger than N1,310 to the dollar on Monday.

According to Bloomberg, the strengthening of the naira was linked to the intervention of the Central Bank of Nigeria in the forex market.

The naira, in the last few weeks, had been unstable, thus reversing most of the gains made in March on the back of improved dollar inflows.

The CBN Governor, Olayemi Cardoso had blamed the volatility on seasonal fluctuation during the post-Monetary Policy Committee meeting press briefing last Tuesday in Abuja.


“Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply freely functioning market system,” Cardoso said.

With $1.30 billion worth of cleared USD/Naira-Settled Non-Deliverable Forwards open contracts expiring on Wednesday, analysts are of the view that the naira may be impacted, thus increasing the chances of the apex regulator sustained intervention.

At the Lagos Business School Breakfast meeting for May, the Managing Director, Financial Derivatives, Bismarck Rewane, had described the naira as a currency in desperate need of revival.

He said the naira was under pressure as a result of “Nigeria’s external imbalances caused by a disruption in oil production, drop in oil prices and speculative behaviour of market actors, negative trade balance (0.86 per cent of GDP) and regulatory arbitrage.”

To resolve the challenge with the naira, Rewane said there was a need for new money in the form of Eurobonds, which the fresh banking sector recapitalisation may be able to inject as well as increasing diaspora flows from $19bn to $25bn.

Meanwhile, the foreign reserves dropped to $32.69bn on Monday, lower than N32.73bn on Friday.


https://punchng.com/naira-stays-at-1339-33-as-fx-turnover-jumps-to-328-32m/?utm_source=telegram&utm_medium=social#google_vignette
Politics / Re: NULGE President Hails Ekiti State, Two Others On Local Government Autonomy by Paraman: 6:40am On May 29
SoNature:
LGAs don't deserve any autonomy in Nigeria. You want to grant autonomy to LGA chairmen who don't even live in their domain? Imagine a state governor living in his FCT liaison office. Very funny.

Those LGA chairmen are even worse than governors; they just don't have that privilege yet. All parts of states fall into an LGA and governors should directly address issues that matter to them.

What I would rather appeal is that governors should conduct transparent LGA elections and allow the wishes of the people to reflect on the ballot. Alternatively, enact a law that compels all LGA chairmen to live in the domain they man or be impeached.
This your comment no make sense at all.

10 Likes

Politics / Re: Obasanjo Superintended Destruction Of Nigerian Economy – APC Knocks Ex-preside by Paraman: 11:15pm On May 28
iwaeda:

You must be a kid then during OBJ's regime. Many youths were gainfully employed in O&G, banking, telecoms, construction, aviation and so on. grin grin grin grin
So many youths are no more gainfully employ in O&G, banking, telecoms, construction, aviation and so on abi?
Politics / Re: Atiku Abubakar Is Befogged With Political Envy–APC by Paraman: 8:40pm On May 28
What's left is to get the economy and security issue right.
Politics / Re: President Tinubu Commends Wike For His Visionary Leadership In FCT (PHOTOS) by Paraman: 8:32pm On May 28
If you don't like it relocate to Anambra or Abia

4 Likes

Politics / Re: Obasanjo Superintended Destruction Of Nigerian Economy – APC Knocks Ex-preside by Paraman: 6:58pm On May 28
Nigeria was a total mess under Obasanjo. No serious development happened between 1999 and 2007... Roads were bad, refineries was bad, power supply was poor etc
Politics / Re: 1st Anniversary: Atiku Counsels Tinubu, Lists 6 Strategies For Him To Succeed by Paraman: 6:02pm On May 28
A strategy you should have told your boss but you choose to remove him from office

3 Likes

Politics / Re: 2027: Let Nigerians Decide The Best Man To Lead Them, LP Tells Wole Soyinka by Paraman: 5:06pm On May 28
Nigerians will gladly choose Tinubu again in 2027
Politics / Re: June 12: If June 12 Was Free & Fair Why Did We Jettison Option A4? by Paraman: 5:05pm On May 28
Option A4 will lead to chaos in present day Nigeria.
Politics / Re: Senator Nwoko Calls For Senate Probe Into Cbn’s Sacking Of 317 Workers by Paraman: 3:34pm On May 28
EmeeNaka:
What nonsense are you talking about? And how do you know the new employment that have taken place now considers children of the poor?
Can you provide evidence the CBN has employed new fresh staff under Cardoso?
Politics / Re: Senator Nwoko Calls For Senate Probe Into Cbn’s Sacking Of 317 Workers by Paraman: 12:13pm On May 28
He didn't condemn the unfair recruitment policy in the CBN. CBN only employed children of the elites, Ned has no problem with the CBN employing only children of the elites

2 Likes

Politics / Re: David Hundeyin Blasts Nigerians For Not Paying Him $5 Per Month, Vows To Quit by Paraman: 10:59am On May 28
You wan't to keep on giving Nigerians fake news like Tinubu didn't graduate from CSU. Look at the way the retard is even talking as if anybody owes him anything

20 Likes 1 Share

Politics / Re: Northern Emirs, Rulers Forced Me To Annul June 12, IBB Opens Up by Paraman: 10:58am On May 28
A very dumb excuse

3 Likes

Education / Re: Two Kano Schools Conditions - Dem Dey Pay Teachers To Teach For One, No Beta Cla by Paraman: 10:58am On May 28
There are terrible schools like this all over Nigeria
Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 9:51am On May 28
johnjose68:


Bad news for Racoon and his family grin

NIGERIA is winning, while the fans of the man that gets his ideas from mad men are sad 😭
He will be heartbroken when he sees this news
Politics / Re: It’ll Take 6 Years To Overcome Impact Of Subsidy Removal – ADC Chairman by Paraman: 9:36am On May 28
If Tinubu can get the exchange rate issue right and stabilize it, we will recover in less than a month sef.

Just imagine the exchange rate is 600/$
Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 9:06am On May 28
overall90:


Did you open the link you posted before you started your insult and dumb defense.
The approval in question is regulatory approved to start selling aviation fuel and diesel to our local market where as the report is talking about getting approval to start refining petrol.
So for a refinery that is said to started refining crude a few months ago, it is now that you will need a special approval to refine petrol
It's not just for Diesel and aviation fuel alone. It's for all the products he will be producing. The check has been going on since last year

Findings showed major and independent oil marketers were keenly waiting for the sale of refined products from the $20bn Dangote Petroleum Refinery even though the January 2024 target for the release of fuel by the facility passed.

But multiple officials of regulatory agencies in the oil and gas sector revealed to The PUNCH on Wednesday that the facility had yet to complete the various stages of its regulatory processes.


It's for all it's product. He applied months ago
Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 8:06am On May 28
CountinBlessins:
GETS PETROL REFINING APPROVAL? SINCE WHEN IS THERE A SPECIAL APPROVAL FOR PETROL? WHO DO THESE PEOPLE THINK THEY ARE TALKING TO? I GUESS THEY ASSUME EVERYONE IS AN ILLITERATE AGBERO WHO IS ONOY INTERESTED IN SHOUTING BABA MI. angry

There was no special approval needed it is all a delay tactics for the refinery to be ready, it was commissioned way ahead of time to score fake political points, when i said it here months ago i was attacked. I spoek with an insider who told me then that the Refinery wont refine a drop of PMS until ending 2024 at earliest angry
Stop the CAP! this is 2024 not 1979! propaganda aint working any more angry
https://www.google.com/amp/s/punchng.com/government-approval-delays-dangote-refinery-fuel/%3famp

You're ignorant. You made no research but spilling an ignorant comment

6 Likes

Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 8:03am On May 28
Nigeria won't need to spend billions of dollars importing petrol from next month again.

iwaeda:

Devil will be laughing at ÀPC with all their lies and proganda. Is refinery a closed system operational wise. How come Amen Estate and Co can feel production noise and heat. June is few days now, preparing ground for another lie. grin grin grin grin grin
So it's the APC that owns Dangote refinery?

8 Likes

Politics / Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 8:03am On May 28
ogododo:


Dey play.
No mind the propagandist... I know someone working at the Dangote refinery, and he said the refinery will start working in 2026

3 Likes

Politics / Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by Paraman: 7:18am On May 28
Dangote Refinery to Begin Euro V Diesel Exports in June, Gets Regulator’s Approval To Refine Petrol

Dangote refinery is preparing for gasoline and Euro V diesel production, aiming to meet domestic demand and enhance exports.


Nigeria’s 650,000 barrels per day Dangote refinery will start exporting diesel conforming to European specifications along with gasoline (petrol) sales in June, its Vice President for Oil and Gas, Devakumar Edwin, said at the weekend.


“We expect before the end of next month we’ll also have gasoline in the market, and we’ll also have Euro V diesel for export, that is below 10ppm”, Argus Media, quoted Edwin to have said at a Society of Petroleum Engineers (SPE) event in Lagos.

Dangote chief executive Aliko Dangote reiterated the planned June start for petrol on May 17.

Dangote refinery started its crude distillation unit in January, and received approval to start up a mild hydrocracker with its desulphurisation units in March.


A source at Nigeria’s downstream regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said the refinery has now received approval to start its residual fluid catalytic cracker. This implies that the facility can begin the refining of petrol.

Dangote started naphtha exports in March, low-sulphur straight-run fuel oil (LSSR) exports in May and began selling diesel and jet fuel domestically in April. It has a waiver from NMDPRA to sell diesel with sulphur levels above 600ppm into the local market, Argus said.


At full capacity Dangote will be able to more than meet Nigerian domestic gasoline demand. But a trader in the region said gasoline production is unlikely to start next month, citing the amount of cargoes to be delivered to the country.

Exports of naphtha, a key blending component in finished-grade gasoline, are continuing from the refinery, with 80,000t due to load on May 31, according to Kpler.


Edwin, who hinted at a slowing of spot sales, said: “We had a meeting to see, probably, how we can slow down our sales because we’ve already made quite a few forward bookings,”


“Export, for example, aviation/jet, the last vessel went to the Caribbean islands. The next vessel, we are booking for US market,” he added.

Dangote recently added TotalEnergies as a buyer in a deal that could see the French company take refined products for its African network of 4,800 retail fuel stations, including more than 540 in Nigeria.

The deal could also see the oil major supply crude to the refinery. A source told Argus there is a deal for TotalEnergies to supply two crude cargoes each month, or around 2 million barrels.

Indications based on the refinery’s slate to date and TotalEnergies’ Nigerian crude equity suggest one cargo of the very light Amenam blend one of Bonny Light, the report added.

Meanwhile, in a drive towards its goal of boosting Nigeria’s oil production, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe received a delegation from Schlumberger, led by its global President, Mr. Olivier Le Peuch, at the commission’s headquarters in Abuja.

The high-level meeting between the NUPRC chief and officials of Schlumberger, the commission said, underscored its commitment to fostering strategic partnerships that would enhance Nigeria’s oil production and operational efficiency.

The purpose of the visit, a statement from the oil sector regulator stressed, was to explore specific areas of collaboration and partnership between both organisations.

Komolafe engaged the company in an extensive discussion aimed at cultivating a long-term partnership that aligns with the commission’s goals and regulatory framework.

During the meeting, Komolafe emphasised that the NUPRC adopts a participatory and collaborative approach to facilitate ease of doing business in the oil sector.

He highlighted several of the commission’s achievements since its inception in 2021 under the Petroleum Industry Act (PIA).

Key achievements, he said include the establishment of 17 regulations aimed at improving industry standards and operational efficiency.

Additionally, he said the re-engineering of the Nigeria National Data Repository (NDR) has been a significant milestone, promoting the monetisation of oil blocks and aligning regulations with global energy transition initiatives and carbon footprint reduction goals.

The NUPRC chief executive also mentioned the ongoing licensing rounds as a testament to the commission’s proactive approach in regulating the sector.

One notable achievement, he noted, was the NUPRC’s commitment to eliminating gas flaring and commercialising flared gas under the Nigerian Gas Flare Commercialisation Programme (NGCP).

The initiative, he pointed out, has designated 49 flare sites for commercialisation, demonstrating the commission’s dedication to environmental sustainability and resource optimisation.

Speaking on behalf of SLB Global, Mr. Olivier Le Peuch expressed satisfaction with the commission’s regulatory framework and indicated SLB Global’s readiness to collaborate.

He reiterated the importance of such partnerships in unlocking Nigeria’s onshore and offshore oil potential, particularly through leveraging advanced technology.

Areas of mutual interest discussed included the development of Nigeria’s frontier basins and the integration of innovative technologies to enhance exploration and production efficiencies.

“At the end of the meeting, it was agreed that a contact team would be established to further investigate and identify more opportunities for collaboration.

“The team will focus on expanding the scope of mutual interests and ensuring that both organisations can effectively work together to achieve their shared objectives,” the statement added.
https://www.arise.tv/dangote-refinery-to-begin-euro-v-diesel-exports-in-june-gets-regulators-approval-to-refine-petrol/

8 Likes 2 Shares

Politics / Re: Fintiri Appoints 182 Special Assistants, 57 Board Heads by Paraman: 6:21am On May 28
ceejay80s:

We shall see....it's coming....it's coming ....it's coming soon
Nobody begged you and your people from destroying the south east under Buhari. Nobody will beg you guys to stop the killing and destruction in the south east when you guys start your madness again because you don't like the president.

Dont just take your madness to the south west or south south.

3 Likes 1 Share

Politics / Re: Fintiri Appoints 182 Special Assistants, 57 Board Heads by Paraman: 6:12am On May 28
ceejay80s:

Don't worry obi will come or we destroy the country, everybody find him way,
The bad part is they have stolen more than enough to set them up in another country but na the poor go suffer
You can only destroy your geopolitical region after Gbajue lose the 2027 election. No other geopolitical region will accept your madness.

You will quickly be giving the Oyigbo treatment

3 Likes 1 Share

Politics / Re: There Is No Tribalism Between Igbos And Yorubas by Paraman: 6:10am On May 28
Dey play

3 Likes

Business / Re: Naira Strengthens To 1,339.33/$ At Official Market by Paraman: 6:09am On May 28
800/$ before the end of July

2 Likes

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (of 141 pages)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 50
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.