₦airaland Forum

stanbright:
Depression for what exactly?

Emusan:
Country of Argentina!

Or you don't know such country exist.

Niok:
did the report state it would drop further next year
You better shut up as well
Propaganda bruhahaaa govt dey play

Emusan:
It took Argentina President less than 6 months who was sworn in in December to take the country inflation from 25.5℅ down to 4.5℅ without adding a single digit to the inflation.

Now, the report is that Argentina has experience the first week without inflation in 30years.

Yet see what you fake lovers of Nigeria are celebrating ordinary projection and if this same projection failed, you come with the different excuses.

thesolutions:
I believe it was Fuel. The mention of high sulfur content product is mostly applicable to fuel.

Paraman:
This projection is higher than what the Central Bank of Nigeria disclosed in January, which was projected at 21.4 per cent.


https://www.google.com/amp/s/punchng.com/nigerias-inflation-rate-to-decline-to-29-5-year-end-pwc/%3famp

hendivoull:
30% is not sustainable, people might die of hunger at that rate.

Afrojuju2017:
Crime rate has not reduced in El Salvador,

Professional services firm, PwC Nigeria, has projected that Nigeria’s inflation would decline to about 29.5 per cent by the end of the year.

This projection is higher than what the Central Bank of Nigeria disclosed in January, which was projected at 21.4 per cent.

In its latest Nigeria economic outlook, titled ‘Navigating economic reforms,’ PwC “projects a marginal decline in inflation to 29.5 per cent by year-end, balancing the effects of reforms, policy actions, external pressures and food prices; particularly in the second half of the year.”

Also, it anticipates that the Gross Domestic Product may grow marginally by 2.9 per cent on the back of sustained policy reforms although growth prospects may be limited by elevated economic pressures.


In terms of fiscal sustainability, the report said that concerns may remain slightly elevated, given debt servicing costs (89 per cent of the budgeted fiscal deficit is to be financed by new borrowings).

As of the end of the first quarter, Nigeria’s total public debt has reached N121.67tn, increasing by N24.33tn or 24.99 per cent within three months, the Debt Management Office announced.

This new figure is from a total debt of N97.34tn ($108.23bn) as of December 2023.

The report read, “Nigeria’s total public debt stood at N121.67tn ($91.46bn) as of March 31, 2024. The comparative figure for December 31, 2023, was N97.34 trillion ($108.23bn). Total Domestic Debt was N65.65tn ($46.29bn) while total external debt was N56.02tn ($42.12bn).”

The report went on to call on the government to “Prioritise macro stability by addressing security, social and pressure points of inflation and exchange rate pressures. Adopt scenario planning before any major economic reform is implemented to avoid unwarranted policy reversals e.g. cyber security levy.

And for businesses, PwC analysts urged the creation of “a clear-eyed strategy by revisiting your strategy and be clear on your must-haves to win in the future – regardless of any economic scenario.

“Re-visit your entire cost structure to establish short, mid, and long-term actions to fundamentally adjust for the future.”

mrvitalis:
Oga there is no face off absolutely no face off make una stop this rubbish

No marketer is important petrol even because NNPC is selling at a massive loss of ₦500 -₦700 per litre
Landing cost is over ₦1300 per little and NNPC is selling at ₦580

Dangote wants to sale at a price around the landing cost which ₦1300
NNPC refuse to buy from him and also refuse to pay subsidy that would cover for the loss if he sales for 580

So he sells abroad for ₦1300ish

There is no Faceoff just Tinubu presidency incompetence

Realtord43:
Anything less than 100k will be rejected

Nigeria workers deserve living wages not slavery wages

mrvitalis:
I don't I don't understand what is the crime? Exporting of u subsidiesd petrol?

Should that not be encouraged?

mrvitalis:
So if you have removed fuel subsidy why are you against fuel smuggling??

The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.

Harris, who disclosed this at a meeting with the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, in Abuja, stated that ExxonMobil is currently carrying out new investments in the oil and gas sector in Nigeria.

The Special Assistant on Media and Communications to the petroleum minister, Nneamaka Okafor, disclosed this in a statement issued in Abuja on Monday.

“During the meeting, Mr Harris hinted at significant new investments that ExxonMobil is injecting into Nigeria’s energy sector.

“He expressed confidence in the renewed relationship between ExxonMobil and the Nigerian government, assuring the government that the oil giant is not planning to leave Nigeria,” the statement read.

It further quoted the ExxonMobil boss as saying, “We are excited about the prospects these new investments bring. Our partnership with the Nigerian government is crucial for sustainable growth, and we look forward to continuing our collaboration as we have no plan to leave.”

On his part, Lokpobiri reaffirmed the Federal Government’s commitment to enhancing production and fostering a conducive environment for investors in the energy sector.

He highlighted the ministry’s focus on creating collaborations and sharing innovative ideas with international oil companies, stating that “we are dedicated to ramping up production and ensuring a supportive environment for all investors by doing everything possible to maintain investor confidence in our country.”

Lokpobiri commended the ExxonMobil team for their commitment in the Nigerian oil and gas sector, noting that it aligned perfectly with the nation’s objectives.

“ExxonMobil’s planned investments are commendable and greatly appreciated. This renewed relationship is a testament to the mutual goals we share for the future of our energy sector,” [/b]the minister stated.

The statement added that the discussions by both parties also touched on the ministry’s support for international and independent oil operators.

Lokpobiri assured Harris of the government’s support, emphasising the importance of creating a thriving environment for all stakeholders.


[b]“We fully support ExxonMobil and other lOCs, just as we do with independent operators. Our collaborative efforts are key to the sustainable growth of our energy sector,” he stated.

On May 31, 2024, The PUNCH reported that Nigeria might add 480,000 barrels to its daily crude oil output as the Nigerian National Petroleum Company Limited and ExxonMobil took a step towards resolving the disagreement surrounding the sale of the latter’s asset to Seplat Energy.

The report stated that NNPC confirmed it had signed a settlement agreement with ExxonMobil companies in Nigeria over the proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.

This was after President Bola Tinubu announced his intervention in the debacle between NNPC and ExxonMobil hindering the sale of the assets to Seplat.

Lokpobiri said recently that Nigeria had lost about $30bn in the past two and a half years as a result of the unsuccessful divestment.

The minister expressed concerns that Nigeria was losing about 480,000 barrels of crude oil per day due to the Seplat/ExxonMobil crisis.

He said the asset was producing about 600,000bpd until the crisis began in 2022, saying the nation was losing millions of dollars daily.

The PUNCH reported earlier that ExxonMobil and Seplat Energy had in 2022 announced a $1.6bn sales agreement deal that would see Seplat purchase ExxonMobil’s complete shares in the NNPC.

However, just when all hopes were high for the completion of the deal, a letter dated May 16, 2022, by the Nigerian Upstream Petroleum Regulatory Commission to ExxonMobil, stated that the deal could no longer hold because NNPC had exercised its right of pre-emption first refusal on the assets.

Right of pre-emption is a legal right to parties in a joint venture to be the first to be considered for any planned sale or takeover of assets in the JVs if either party chooses to trade them off.

According to reports, NNPC objected to the sale of ExxonMobil’s equity to Seplat and insisted on exercising its first refusal right after which the company reportedly made an offer above $1.6bn to ExxonMobil.

But after about two years of litigation, there seems to be an end in sight to the crisis.

In a bid to address the long-standing issue of touting and illegal activities at Nigerian airports, the Federal Airports Authority of Nigeria has launched an armed Aviation Security unit at the Murtala Muhammed International Airport in Lagos.

This was made known in a statement by the Minister of Aviation and Aerospace Development, Festus Keyamo on X.com on Monday.

According to the Minister of Aviation, the unit has been mandated to arrest and prosecute touts and other suspected criminals operating within the airport premises.

The Minister revealed that the initiative will be replicated at other international airports in the country, ensuring a safer and more secure environment for passengers and airport users.

The statement said, “As part of the steps we earlier promised Nigerians to take to curb the menace of touting and other illegal activities around our airports, earlier today the Managing Director of FAAN, on my behalf, unveiled the armed Aviation Security (AVSEC) unit at the Murtala Muhammed International Airport (MMIA), Lagos.

“We will replicate it at other international airports. They have the mandate to arrest and prosecute touts and other suspected criminals around our airports.

“This is apart from the other inter-ministerial effort that is still ongoing to deal specifically with the issue of agencies of government within the airports that are involved in extortion, bribery and begging.”

Keyamo had in a statement on Sunday said the issue of extortion of passengers by officials of government agencies at the nation’s airports is beyond the ministry’s control.

He however said the aviation ministry was working with other ministers responsible for the affected agencies to find a lasting solution to the problem.

The minister’s statement came in response to numerous complaints by travellers over alleged extortion by officials at the airport

Afrojuju2017:
Governments the world over have not overcome drug syndicate, I doubt this criminal enterprise can be defeated in same vein. We messed up the day we paid militants in the ND money to keep them quite, from then on we've been paying trouble makers money keep civil.

The only answer to breakdown of law is justice, swift and absolute justice

Autodidact1:
Yorubas are the biggest problem we're facing down south. SS And SE got it right two times consecutively but the yorubas keep voting for people that have destroyed Nigeria beyond repair.

If the Yoruba stop being selfish and unite with the rest of the South, the south can easily recruit the middle belt and turn the country around or better still, push for true federalism or dissolution of the unholy union

gidgiddy:
When Obasanjo was military dictator in the 70's, he put the face of General Murtala Mohammed on the 20 Naira note. This was a huge error because Murtala Mohammed is not a role model for anyone. He was a murderous coup plotter, war criminal and military dictator. There was nothing positive about the man

How do you put Murtala Mohammed alongside the likes of Herbert Macaulay, Zik, Awolowo and Sarduana?

When Obasanjo returned as civilian, he had the opportunity to correct this national embarrassment of putting Murtala Mohammed on the N20 note. Obasanjo introduced the N200 and N500 and put eminently qualified people on it. He had the power to remove Murtala from the N20 Naira, but did not

Obasanjo needs to tender an apology for not correcting the mistake he made.

ogododo:
According to him, an average Igbo person has learnt not to depend on the government so it is easier for them to survive on their own.

Human rights lawyer, Dele Farotimi has said that the current Nigerian system is not sustainable and that the revolution and problem that will destroy President Bola Tinubu’s government will come from the Northern region of the country.




In an interview making the rounds on social media, Farotimi said that revolution against the suffering created by President Tinubu’s government will not start in Eastern Nigeria.



According to him, an average Igbo person has learnt not to depend on the government so it is easier for them to survive on their own.




He said, “Long ago, I predicted that the Nigerian revolution would start in Northern Nigeria. The only reason I said so at the time is because the North had always been the reason we could not find a common purpose to fight the evil.



“But now that the person in power in the presidency is not a northerner, and he is at best, a nominal Muslim, and the suffering has now been fully democratised, the Northern streets, not Northern elites, has no interest in forbearing and continuing to suffer.



“Why is it that all of a sudden, everything they tolerated in all the years of Muhammadu Buhari is no longer tolerable?”



“I don't know how long it is going to take but if this mess continues, the problem that will consume this government will start in Northern Nigeria. It is not going to start in the East. It might seem like nothing is going to happen but something will definitely happen. This system is not sustainable,” he said.



Justifying his point in detail, the activist said, “You will rarely find an Igbo man applying to civil service or looking for a salary job. The average ones, even the ones that went to the university, still attach themselves with somebody in the market and learn a trade.



“They learnt to do without the government. They learnt to discount the government completely. Which means that the Igbo man is better equipped than any other Nigerian to cope with our current circumstances where the government has completely become useless.



“The Igbo man was already prepared for the uselessness of the government. Now that he is prepared for it and everyone wants to stigmatise him, I can't blame the Igbo man for turning around and saying, 'it is none of my business, enjoy your government.’”



He added, “He didn't enjoy anything from the beginning. I'm talking about average Igbo man, not about the Orji Uzor Kalus or the Okorochas of this world who have always fed on the grievances of the Igbo people and have made money by appeasement of the government and presume to speak on behalf of the Igbos.



“Average Igbo man on the street grew up believing that he has no portion in Nigeria, which was what fed the Biafran spirit and demand for Biafra even 50 years after the civil war.



“The average Igbo man in Igbo land, in Alaba International Market, in Ladipo, have always lived with the mentality of being victims of the system.”



https://saharareporters.com/2024/06/24/revolution-will-consume-tinubu-government-over-hardship-will-start-northern-nigeria-dele

tiswell:
Later yeruba governors will betray and sabotage it

DMerciful:
Buharists who has turned to agbados