₦airaland Forum

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Streetinvestor2:
What happens in the future if things turn around and the naira strength against the dollars and revaluation takes place again after this ceo who are majority shareholders have cornered large sums as dividend. You know how corrupt this ogas can be,you can't imagine the bloated operating expenses you will see because they now have open cheque for spending.
I understand small shareholders should benefit from the windfall . They should allow the economy recover and this government policies get rooted so that they don't pull out have money via dividend/expenses and revaluation downward happens. I believe if we get our major source of forex drain right which is fuel importation we may have another round of revaluation

There is no how the naira is appreciating above the current I&E rate, which the bank used in revaluation.
All the FX policy will not work without substantial cut in government spending. You will be shocked that the FX crisis will not be any different even when Dangote Refinery and other refineries start working.

I can vouch that 30-40% of the country's yearly budget is embezzled. That is the source of billions of naira that drains the countries FX through the black market.

Without substantial cut in government spending, we will be looking at $1 to ₦1100 by the end of 2024

Shalom428:
CustomStreet is a treasure that must be protected, a lot of people have made millions from his credible and trusted information. He's meant to be celebrated , not banned . Admin / moderator, Seun , please do the needful. Thank you.

Abi the admin dey mad ni

Let him free CustomStreet for us o.

awesomeJ:
I apologize for that bad advice that year.
I had an unduly high faith in Emefiele.

Now I've even learnt some tech skills, I earn some dollars, and I prefer if it reaches #950.


Again apologies for being "over patriotic" at the time. I could have listened to people and switched to USD at #480 then. Only good thing for me is that when the heat got too much, I was forced to learn skills that now give me some USD earnings once a while.

Bro it is understandable, we all thought things can never spiral out of control this much.

Good to hear that you have upskilled and now earning in dollars. You must have buckled down hard to learn the stack you listed up there in just two years.

Best wishes bro

decatalyst:
Hmmm...seems you are irresponsible and simply want to free yourself of the little girl at age 3...you travelled and abandoned her.


However, they owe you accountability. They need to show you the child you abandoned, dead or alive. They owe you that.

I would suggest you calm down, meet the most respected man/woman in your extended family, to come into the situation.

If this doesn't work out as expected, you can get them arrested.

Note: I hope you have concrete evidence that you 'abandoned' your child with them. Otherwise, they can turn the table and have you rot in jail for false accusations.

Your comment shows how dumb you are.
Do you know how many people grew up with their grandparents?
If not for globalization that is breaking family bonds, grandparents are in the best position to baby sit their grandchildren while the parents go out to hustle.

Na she dey slack, she ought to have involved the police. It is a crime to hide the whereabouts of the child

emmanuelewumi:
You will have the 100,000 units of Dangote Sugar. Dangote Sugar is the SI unit for the share exchange ratio.

It is NASCON that will have about 93,000 share for their 100,000.


Dangote Sugar has 12.15 billion shares whereas the enlarged company ie Dangote Foods will have about 17.5 billion shares.


Get a professional to explain the details of the nerger document to you

I guess what he is trying to saying is, if Dangote Food is listed at #100, 70% (#70) of that price is determined by Dangote sugar while the remain 30% represents the value determined by NASCON and DRL.

Nonetheless, due the merger, the value of old DSL has increased and holders of DSL shares will sell their units based on the new price

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pizapato:
Dey play.

When boys are warming up to mop up again anything below 800

I like your optism. Check the post of AwesomeJ on this thread and see how he discouraged people from changing below 500 few years ago. I'm sure experience has taught him that the thieves at helms of affairs of this country are unwilling to address the true solution to the problem


The true solution to the dollar quagmire is for government to cut the operational budget of all federal parastatals and ministeries by 50%. The money given to these ministries/parastatals are largely stolen, which is in turn used to mop up dollar by the looters.

If they don't do this, the solution you are seeing now is only a quick fix that will push dollar to sub 800 but in few months or one years time, the dollar will continue its upward journey again.

oluayebenz:
Till then.

Will quote you

We did not even get to sub 800 as I envisage, we only got to 820 before the reversal.

The pull back in the rate also didn't even last up to a month. May be it is too early but we are back to 920 😁


Only rookies will hurry to sell their stash, those with experience know it takes a few weeks or months for the rate to return back to default

Bbbwings:
Thank you o.
But does anybody wish they had invested thier whole holdings in it.

Me!!!

Wished I sold all my asset and loaded Dangote Sugar.

There is always one or two stocks that perform exceptionally every year. If one can spot it early, na massive cash out

currentprice:
price was less than N20 as at this post this year

You do well chairman.

I wished I sold all my UCAP and loaded more units back then

Na the next bus to board I dey anticipate

Streetinvestor2:
why am I not get dangota sugar @ 32 for the 2nd week to complete my targeted unit for now .

pizapato:
Dangote sugar having a pullback like I said few days ago. If it interests you, below 32 is a good price

Not long ago it pulled back to 32.
Not sure you will be able to get it at 32 again.
If my chat reading skills are right, it is heading for 42-44, a pull back should present another entry around 37-38.

QuinModah:
You are not patriotic.

Yes I am not.

I can't let patriotism drive me into penury. Anyone who is wise will split their investment into 2 parts (some in dollar and some in naira).

The gratuity of many people have been turned to peanuts with the endless devluation. Yet you think those who are in control of their investments will open their eyes and watch, while the value is stripped away by mismanagement of the economy by greedy politicians.

If I'm given the opportunity to manage my pension contributions right now, I will convert it to dollar and invest in Eurobond fund.

When the leaders start to show some elements of patriotism, we the populace will follow.

Acidosis:
How much can the average Nigerian hoard sef? Last time I checked, NDIC abi CBN said that more than 90% of Nigerians don't have 500k in their account. So, how much can the average Nigerian hoard compared to what political parties and cronies spend at convention grounds?

My point is that those encouraging you to blame "hoarders," the commoners without 500k are the same people behind the scarcity. These guys are buying properties abroad every day! From Seyi Tinubu to Keyamo in the U.S. Imagine what the other guys are doing with forex! These are the unpatriotic people who poison the minds of their party loyalists to turn against opposition and ordinary commoners.

Do you really think the aboki fx guy, standing under hot sun everyday and hustling for feeding, at Berger market is the reason for the scarcity?? In some markets in Lagos, all of them put together no get $5,000 to sell. You can approach them and ask.


Festus Keyamo works as a Minister in Nigeria but he had $300,000 to buy a US property.

We don't know Seyi Tinubu's job, but a recent news showed that he recently acquired a $10,800,000 US property.

These are the unpatriotic people behind dollar scarcity.

You have hit nail on the head.

The trumpeters of faux patriotism will turn a blind eye to the political class who rip off the country of millions of dollars.

How many average Nigerians hustling for capital preservation have up 200k USD in liquidity

emmanuelewumi:
I guess that was around 2020, I know a number of assets that have doubled price and a number of investors who are making times of what they were making in 2020.


Do business, invest or produce something, you can always adjust the price or fees charged for your goods and services unfortunately majority of us are consumers.


Hoarding forex is speculative, if you must buy dollar make sure it is for business or investments, not to just be in the account or under your mattress

Pa Emma

I totally agree with your last sentence sir.

I agree that some assets have doubled in that period of time particularly stocks. However, some business venture have also experienced severe loss due to unstable exchange rate

One thing we should also point out is that some people made money and just want to protect their capital. Treasury bill and bonds used to to be secured way to preserve money. With the rate of devaluation what can people do?
It is safer to hold dollar and invest it even if it is in 2% interest per annum dollar based investment

pizapato:
Expect a little twist by September ending or Oct/Nov, they might pump out some USD to crash the rate and ensure speculators get their hands burnt.

Whoever is playing the long game really have nothing to worry about though.

This was my post few weeks ago.

The twist is coming earlier than expected.

Anyone with the plan is to hold long for wouldn't panic. For those that know the game, it is a normal move. Na to hold and average down as rate falls.

oluayebenz:
True value of naira is around 600/USD..... I have said it before...

By middle of Sept, naira will range btw 580 - 600 per USD.

Hoarders should keep hoarding, I've said my own 😅. We move 🚶🚶🚶

Dey play.

When boys are warming up to mop up again anything below 800

I like your optimism. Check the post of AwesomeJ on this thread and see how he discouraged people from changing below 500 few years ago. I'm sure experience has taught him that the thieves at helms of affairs of this country are unwilling to address the true solution to the problem


The true solution to the dollar quagmire is for government to cut the operational budget of all federal parastatals and ministeries by 50%. The money given to these ministries/parastatals are largely stolen, which is in turn used to mop up dollar by the looters.

If they don't do this, the solution you are seeing now is only a quick fix that will push dollar to sub 800 but in few months or one years time, the dollar will continue its upward journey again.

Capitas7:
We are enjoying e-dividends today because of the efforts of some people who knew their rights. The experience keeps getting better with more people who know their rights and won't stop till they get the convenience that they deserve/desire.

Hopefully we can get to the stage where someone will not need to fill e-mandate before getting their dividend. I believe the issue of having to complete e-mandate is discouranging some people particularly those in the diaspora from investment in NSE

Hamachi:
Are you new to Nigeria economy?

I should ask you that.

eziokwunwoko:
Good morning Sir customstreet.
Please how did you arrive at N100 listing price of Dangote Foods.
Is it adviceable to buy DANGOTE SUGAR OF NASCON at current price
DangoteFood might be listing above 10,000k

Dangote sugar having a pullback like I said few days ago. If it interests you, below 32 is a good price

eziokwunwoko:
Good morning Sir customstreet.
Please how did you arrive at N100 listing price of Dangote Foods.
Is it adviceable to buy DANGOTE SUGAR OF NASCON at current price
DangoteFood might be listing above 10,000k

When someone drop this kind of information rather that questioning the source, what you should do is to check how reliable the previous post of the person is and then do your own due diligence.

Check the previous post of customstreet, you will realise he was among the first to call DANGSUGAR at around 17. He was also the first person go give a to hint about the merger.
That tells you he is privy to classified info.

Once he drops his gems, it is left for you to do you due diligence and take position if you consider the information valuable.

You can't expect him to come and tell you he arrive at the listing price.

Note: not saying you should buy at current price.
A pull back might happen presenting an opportunity to enter at a lower price.

TotoNaRubber:
Before June 2024 $1 will hit N1000. .
E go better is a language of those that were unfortunate and missed out in buying dollar when it was N360 = $1.
Tinubu's family's income from the closure of Lekki/Ikoyi toll gate dropped. They will keep repaying the Naira denominated debts to gain more credit worthiness and even borrow to repay euro bonds, they will look good at first but by the time they finish with Nigeria.
The value of Naira will be tissue paper.


Na so some people talk that time say once Dangote open his refinery, demand for dollar will crash, I laughed at them and asked Is Dangote related to Jesus ?

Nigeria doesn't produce Forex or generate enough, it is not in sight to do any of those so therefore the value of dollar will continue to drop, I bought N895/$ today. We never enter festive season o hehe

Expect a little twist by September ending or Oct/Nov, they might pump out some USD to crash the rate and ensure speculators get their hands burnt.

Whoever is playing the long game really have nothing to worry about though.

essentialone:
Today, expect to see Cadbury at 13.95. and Nigeria Breweries at 45.95.

Not an advice to Buy, Sell or Hold.

NB looking like it

Shalom428:
It's playing out already ... Dangote Sugar maxed the 10% daily gains at the end of the day , after opening at 7% loss. Like I said earlier ... Last Last, Alhaji will not lose ... If you are already in the bus , Please Don't Panic .... Dangote Food...

Contemplated increasing my stake in Dangote Sugar today at #25. Somehow felt I should hold on that it might fall a bit lower. Only to check back and see it close at 29+

Whatever they are cooking, we will watching till the end

adebayo987:
I pray for less fire outbreaks and explosions as any slight leakage, accident, damage or faulty equipment could lead to more dangerous situations. Nigerians wey sabi manage something until e spoil to its last death of second last death. Make them prevent those old vehicles wey the parts don dey beg the owner for death from converting to CNG as its consequences could be disastrous.

CNG is not as flammable as Petrol and LPG (coking gas).

CNG is safe for use in automobiles. The major challenge now is that we are not seeing infrastructure development for distribution of CNG. When people convert where would the get the CNG. If they can't find CNG, people might start to take risk with LPG

oluayebenz:
It will definitely nose dive.
FX can't stay high for long.

I'm predicting 600/USD in the coming months

Expect a slight pullback around September ending. The pressure on FX you are seeing now is related to students resuming overseas this peirod. Once they move and the market settles, it should return to sub 800.

But that 600 that guy man above is giving you is lamba.

In the long term, naira will continue to lose value against dollar. This dollar matter wey we don dey talk for this thread when it was at 380, 460 e.t.c
e never pull back since then

Seun:
Dear Nairalanders,

I regret to inform you that the Central Bank of Nigeria printed an alarming quantity of money electronically in June 2023 (source).

They increased the supply of narrow money aka M1 - which includes cash and money in bank accounts that can be spent immediately, from ₦22.47 trillion to ₦24.49 trillion, which means they printed ₦2.03 trillion, increasing the narrow money supply by a whopping 9.03% in one month - June. 🙆‍♂️

They increased the supply of broad money M3, which includes all money in the country, from ₦55.8 trillion to ₦64.9 trillion, which means they printed ₦9.1 trillion naira, increasing broad money supply by 16.31%, in one month. In other words, what they printed in June is 16.31% of all the money that the CBN had printed since independence. 🙆‍♂️

What does this mean? According to the CBN itself, "there is excess money supply when the amount of money in circulation is higher than the level of total output of the economy. When money supply exceeds the level the economy can efficiently absorb, it dislodges the stability of the price system, leading to inflation or higher prices of goods."

It also impacts the exchange rate; when more of a currency is printed, each unit of the currency becomes less valuable. A source I spoke to said that he suspects that the government has borrowed more money from the CBN. Trillions of naira. Inflation is 📈, naira is 📉.

I wonder why you are whining and wailing.
You have always known BAT as an advocate of endless printing of cash, yet you believe in his manifesto and supported him.

Like I told a close relative who was also supporting BAT, naira is going to 1500 to $1 in the next 6-12 months.

I know you are insulated from the economic meltdown, however when it gets to a stage even the rich might become unsafe because crime is bound to increase

BullBearMkt:
...losing its bullish momentum, may likely pullback

Chaiii
Thanks

BullBearMkt:
...below 1.80 a good bargain

Chairman, abeg what is TA saying about Fourmills.

thesilentone:
Please can folks on here inform us when their uber drivers, market women start to talk to them about NGX.

That information is going to be critical.

Thanks

We are getting there

https://www.nairaland.com/7759202/foreign-portfolio-investments-equities-rises

BullBearMkt:
Just to understand the mis-understanding going on since yesterday.

Does it mean people should not post what they think is an opportunity again?

All stock posts must be fundamentally sound?

I still don't understand

I don't think that is the case. I feel people are just concerned that people who advocated BUY for penny stocks don't talk when they sell. For newbies who doesn't know much, they might get carried away by the euphoria of daily rise and then get trapped.

So as dem market penny stocks, they can do well to give a range of prices people should jump out. Anyone who stays beyond the specified price range would know they got stuck due to greed.

By the way, loco picks do give good returns. Whoever wants to follow him just got to know when to run out. I followed loco enter Academy and RT Briscoe last year and I ran out when I got what I considered fair gain.

Lion123:
Up 40% on ACCESS. 15% on UBA. Hashtag grateful.

Sold some UCAP at 13.1 to enter access at 11 when you mentioned it few weeks ago.
Wished I enter the first time you mentioned it around 10.

ositadima1:
Everyone is talking about a global financial crisis. My question is, since it is global, will it start in Nigeria ni? Won't it first manifest in foreign markets before we feel the effects here?

That is how one particular individual is always posting about a generational low. Will this low start with the Nigerian markets ni? I am confused o.

US market is even pumping right now

S&P and QQQ just hit 52 weeks high.

When the US markets starts showing signs of decline, that when one should be cautious.

The removal of Emefiele can however cause a decline in the short term