Gerrard59:


You compare him to a manual labourer or lowly skilled worker in Nigeria not a bank manager.

Anyone can work anywhere he or she likes, but inane comparisons don't make sense.

No manual labourer can earn up to 300k monthly here in Nigeria

I'm not comparing him to a bank manager. But still, he earns more. How much do you think bank managers earn ? I mean their main salary?
Do you think they earn up to 2m?

SeaTrade:
Mechanisms are in place already to stabilise the exchange rate of the country.
Emefiele just changed the naira so as to take away that purchasing power from the people putting abnormal pressures on our currency.This is a long lasting solution,I commend him for that.
Secondly,I think the policy will be followed up by serious anti hoarding/storage of currency restrictions, like strong deposit and cash withdrawal limits for instance.
Also,If hopefully DangRefinery comes alive,that will also ease pressures a whole lot.
Thirdly,I think BDCs(Nigeria's biggest currency threat) will be seriously regulated or even outrightly banned(better solution) after all these reforms.
I'm not saying naira will go back to 2014 highs,but it'll recover very rapidly in the very near future.

Guy stop dreaming. Dangote will buy and sell his oil in dollars. How do you expect him to pay IFC and other lenders?

jesmond3945:

Guy stop dreaming. Dangote will buy and sell his oil in dollars. How do you expect him to pay IFC and other lenders?

You're the dreamer here.
So you think local marketers will buy petroleum products in Nigeria in dollars?
Which country allows local trading in foreign exchange asides failed states?
Even if he doesn't hand over his earned fx to CBN,the fx demand he will take away from CBN by selling petroleum products in naira is enough to strengthen the currency.

SeaTrade:
You're the dreamer here.
So you think local marketers will buy petroleum products in Nigeria in dollars?
Which country allows local trading in foreign exchange asides failed states?
Even if he doesn't hand over his earned fx to CBN,the fx demand he will take away from CBN by selling petroleum products in naira is enough to strengthen the currency.

Watch this space. What they would not pay is landing cost, but they would buy pms in dollars.

jesmond3945:

Watch this space. What they would not pay is landing cost, but they would buy pms in dollars.

Landing cost meaning what?
Don't tell me you're part of the conspiracy theorists that think Dangote built a 20B dollar refinery as a front to be importing fuel.
And so long as he trades the products to Nigerian marketers in Nigeria,the trading will happen in Naira.
Nigeria isn't Ghana or Liberia Mr.

...Trading will happen in Naira at the black market equivalent of the dollar essentially increasing the cost of fuel as you know now.

Dangote has the option of selling to international markets in USD and that's his priority as a capitalist.

SeaTrade:
Landing cost meaning what?
Don't tell me you're part of the conspiracy theorists that think Dangote built a 20B dollar refinery as a front to be importing fuel.
And so long as he trades the products to Nigerian marketers in Nigeria,the trading will happen in Naira.
Nigeria isn't Ghana or Liberia Mr.

Treadway:
Niggas are legit making 4-5year plans praying/hoping/expecting that Naija keeps going downhill so the coins they come with will become tens of millions in itself. I do hope and pray if anything else that in 2023-2024 exchange rate goes back to pre 2014 levels of 150 to 1USD or even lower....so I can happily watch all those calculations go to shit .

They will return to Nigeria to work as expats. Many people returned to Nigeria during Jonathan's era, some of whom later voted for Buhari. Foolish people, anyway.

BTW, judging from oil has been siphoned and the insecurity coupled with massive debts, I don't see how that is possible. Nigeria does not need a strong naira. This fascination you people have with the naira being as strong as the Swiss Franc is amusing. Korea, Japan and China ensure their currencies are below the dollar, you want the naira to be like the Singaporean dollar without considering the size of the economy and population.

Gerrard59:


They will return to Nigeria to work as expats. Many people returned to Nigeria during Jonathan's era, some of whom later voted for Buhari. Foolish people, anyway.

BTW, judging from oil has been siphoned and the insecurity coupled with massive debts, I don't see how that is possible. Nigeria does not need a strong naira. This fascination you people have with the naira being as strong as the Swiss Franc is amusing. Korea, Japan and China ensure their currencies are below the dollar, you want the naira to be like the Singaporean dollar without considering the size of the economy and population.

My comment is clear and is based off of the common reasoning of majority here which is to work a couple of years abroad save up some 40k pounds or dollars, then convert that WITH THE EXPECTATION that the naira will be like 1k or more, so they will have 40million gboa! I want to relish that permutation falling flat on its face. Carry your 40k come and get 6-8million naira, and not 40m, because the currency that they didn't bet on gained positive traction unexpectedly, and it will happen....ok lemme say I really really hope it happens

Up until 2014, it was the case, dollar/pound exchanging at 150/250-ish and we even thought it was high. With the right plans in place and executed, it can happen again. It isn't rocket science.

Why not do research on average tuition for an MBA in the UK?

Thortp:
Also, think about what I meant by rough 1st year.

In essence na handwork sure pass

pocohantas:


Some of the reasons they give;
1) A second passport.
2) For their kids future.
3) Nigeria is an unsafe country.

4) Better standard of living, healthcare, education, etc…

5) A cleaner in London is better than a bank manager in Nigeria. Bank managers done suffer sha.

fat lie do you know what it means to head a standard chartered Bank in Nigeria you must silly . A cleaner is working dead end physically draining low life job .seeming oyinbo poo up and down in toilets .you are comparing with a brains driven work like bank Manager that have over head at his disposal to run the branch . attend to high netwroth loan seeking clients .attend to govt accounts .have a driver attached and a sectary and prestige . Black are truely third class race . May be microfinance bank manager .not the like of GTB ,zenith. SC etc .

Gerrard59:


They will return to Nigeria to work as expats. Many people returned to Nigeria during Jonathan's era, some of whom later voted for Buhari. Foolish people, anyway.

BTW, judging from oil has been siphoned and the insecurity coupled with massive debts, I don't see how that is possible. Nigeria does not need a strong naira. This fascination you people have with the naira being as strong as the Swiss Franc is amusing. Korea, Japan and China ensure their currencies are below the dollar, you want the naira to be like the Singaporean dollar without considering the size of the economy and population.

expart in managing the elderly or Ware house stacking . We don't need care home in Nigeria we reject that culture we take care of our old our self . Nigerians are not working in high tech industries in Mass like the Indians

jesmond3945:

Guy stop dreaming. Dangote will buy and sell his oil in dollars. How do you expect him to pay IFC and other lenders?

NNPC have a 20 percent stake . Oil will both be sold locally in Naira and export in USD. The refinery is not for Nigeria alone . 60m pms 10m Atk 10m AGO . Like the fertilizer plant we local dealer pay in Naira in DFL @17000 for urea while they export to America and Brazil @ 50m USD per shipment he has ship 22 trip to us ,Brazil and Cameron .while the local dealer have bought 30bn Naira worth of urea . Ships that bring in raw sugar are clean up loading with urea for export . The refinery is projected to earn 6 bn USD per annum via export. The fertilizer section has earned around 1bn usd since starting . He sell around 24k Naira to export buyers via dangote jetty.

MrDoGood:



No manual labourer can earn up to 300k monthly here in Nigeria

I'm not comparing him to a bank manager. But still, he earns more. How much do you think bank managers earn ? I mean their main salary?
Do you think they earn up to 2m?

do you know the meaning of payparity Abi you just literally covert currency to feel happy like a BDC worker .2m Naira monthly income in Nigeria is like 100 ,0000 pounds per year income in the UK . Payparity mean A hair cut in Nigeria will be 1k while It 20 pounds in the .uk ( 18k) hair cut na hair cut .

ahiboilandgas:
do you know the meaning of payparity Abi you just literally covert currency to feel happy like a BDC worker .2m Naira monthly income in Nigeria is like 100 ,0000 pounds per year income in the UK . Payparity mean A hair cut in Nigeria will be 1k while It 20 pounds in the .uk ( 18k) hair cut na hair cut .

Sir I understand what you're talking about. Perhaps you missed where I said I'm not comparing to bank managers. And I said bank branch managers don't earn up to 2m here in Nigeria. Their salary ranges from 300k to 1m max. I just got off the phone with the South South RM or RH as they call it of one of the prestigious bank in Nigeria.

Here is the thing. We're actually looking at what a manual labourer earns to what a Manager earn here in Nigeria.

If you like, cut your hair with 50 euro, you still earn more than most professionals in Nigeria.

In Abuja, houses are expensive, but people still meet up and have some savings compare to Benin city. They pay that much because they're doing business and are making money in the city. Shops are expensive, cutting of hair is high as well. Resident can pay because they're making money too.

ednut1:
a lot of children of Nigerians immigrants that went abroad in the 80s and 90s are doing well. Doctors, nurses, tech people, supply chain, social work, teachers, business owners , Personal trainers etc dem full there. There are obviously some that became what you wrote there. I was in the Uk from 15 to 18 years, the people i was around then. Most of them are living a comfortable life they have access to the best times of life and can travel on vacations. One of them that wasnt good in studies is now a Chef making good money. Make una rest. Even in USA see below
https://www.ozy.com/around-the-world/the-most-successful-ethnic-group-in-the-u-s-may-surprise-you/86885/

you are 32 years now

Treadway:
Niggas are legit making 4-5year plans praying/hoping/expecting that Naija keeps going downhill so the coins they come with will become tens of millions in itself. I do hope and pray if anything else that in 2023-2024 exchange rate goes back to pre 2014 levels of 150 to 1USD or even lower....so I can happily watch all those calculations go to shit .

Damn. This is so true. We all know but stop sharing this kind of Truth on a public forum

Treadway:
My comment is clear and is based off of the common reasoning of majority here which is to work a couple of years abroad save up some 40k pounds or dollars, then convert that WITH THE EXPECTATION that the naira will be like 1k or more, so they will have 40million gboa! I want to relish that permutation falling flat on its face. Carry your 40k come and get 6-8million naira, and not 40m, because the currency that they didn't bet on gained positive traction unexpectedly, and it will happen....ok lemme say I really really hope it happens

Up until 2014, it was the case, dollar/pound exchanging at 150/250-ish and we even thought it was high With the right plans in place and executed, it can happen again. It isn't rocket science.

As a result of high oil prices which the Buhari's administration has squandered by allowing oil theft. Remember, oil constitutes at least 75% of foreign exchange revenue. The only thing that can save (not increase as hooge debts have to be repaid) the country's forex is Dangote's refinery refining and exporting petroleum products.

Why do you people spread fake news and fears everywhere ? Learn which language to become citizen? Portugal the IT capital of Europe ? The eyes of the Mediterranean? Na wah for Una o.
This is why people keep calling me and asking about all this jargons you people write!

The easiest place to get a job in Europe with no single understanding of the language is Portugal , though you strong need the residence permit to get a job there and there is no way you can go around “hand payment “ it’s tough !

During summer alone , you can be doing 6 jobs in Lisbon , it’s the busiest time of the year as they see almost a 100% in population of tourists troop in.

The reason most people don’t know too much about Portugal is because it’s tough to cut corners there and most people avoid it , it laws is stringent and bureaucratic!

Great and lovely place and Entering Spain is hassle free, ….

How many Nigerians do you think is in Portugal ? Last year alone they gave the highest number of Visa to Nigerians , 760 approved Visas! They don’t want you!

Uk alone this year has give over 100k visas to Nigeria because it’s easier not necessarily better , choose where you want and work at it .

etrange:


I don't really see how Portugal is easier or better. Salaries aren't exactly mind-blowing there either. The country has the 6th most powerful passport in the world alongside Ireland, France and the UK. It takes the same number of years to be a citizen (5 years with a few different conditions). In the UK, your child also qualifies for citizenship if you're legally settled in the country and even though they're no longer in the EU, it's still a global passport backed by many bilateral agreements. Taxes might be lower in Portugal but that comes at a cost. You must learn Portuguese to pass the citizenship screening and the country is less diverse than the UK, which means more racism. You said there are tons of countries with strong passports; the question is, how many of them are anglophone? Or you don't see the role of language in migration patterns or even in life's endeavors?

In life, everything is about struggling. You've mentioned why the UK path is a struggle, but the mere fact that you have to learn Portuguese to be a citizen or get a great job in Portugal makes that path a a big struggle too, and staying in Nigeria is not any easier. So let people do whichever one thet feel they have what it takes to do. Don't assume they don't do thier research. People aren't exactly dumb.

Gerrard59:


As a result of high oil prices which the Buhari's administration has squandered by allowing oil theft. Remember, oil constitutes at least 75% of foreign exchange revenue. The only thing that can save (not increase as hooge debts have to be repaid) the country's forex is Dangote's refinery refining and exporting petroleum products.

your stats are correct, however at the bolded, I want you to see what Ahib wrote here for some insight. Sad truth is a lot of exports go on albeit illegally (as you have pointed out with crude oil theft AND OTHER PRECIOUS SOLID MINERALS!), but there are also exports carried out in Nigeria legally daily( most don't know this) but the transactions are unaccounted and unaudited. One good initiative that I can't fault Emefoole on is this one.
https://www.thisdaylive.com/index.php/2022/09/18/cbn-more-commodities-now-being-captured-to-earn-200bn-forex-from-non-oil-exports/
Ahib has already given some examples. The govt is trying to incentivize businessmen to run the exports rightly through the system, and not solo-runs/backdoor, so that the figures can be captured, and it is already having some good results. I can only hope the reach/scope gets wider, but make no mistake people dey into export trade big time underG. So, as per the bolded I don't think, or rather should I say, I hope the Dangote refinery will not be the only hope in this tragedy, even tho I recognise it will be critical in the early stages, at least 1-2years, but I'm optimistic the export sector will vibe-up so it won't solely be on Dangote refinery.

ahiboilandgas:
NNPC have a 20 percent stake . Oil will both be sold locally in Naira and export in USD. The refinery is not for Nigeria alone . 60m pms 10m Atk 10m AGO . Like the fertilizer plant we local dealer pay in Naira in DFL @17000 for urea while they export to America and Brazil @ 50m USD per shipment he has ship 22 trip to us ,Brazil and Cameron .while the local dealer have bought 30bn Naira worth of urea . Ships that bring in raw sugar are clean up loading with urea for export . The refinery is projected to earn 6 bn USD per annum via export. The fertilizer section has earned around 1bn usd since starting . He sell around 24k Naira to export buyers via dangote jetty.

Igiaruwe04:


Damn. This is so true. We all know but stop sharing this kind of Truth on a public forum

lol..the truth-telling must continue. Luckily, I can be both a preacher of peace and vawulence afficionado. All join.

SeaTrade:
The school fee for the degree weh make them give you the visa and allow you in their country na free ba?
Outright multiplication Don make people invest with their emotions a lot sha,no worries.

You pay off the school fee during the first year and still have some savings left…

Treadway:
Niggas are legit making 4-5year plans praying/hoping/expecting that Naija keeps going downhill so the coins they come with will become tens of millions in itself. I do hope and pray if anything else that in 2023-2024 exchange rate goes back to pre 2014 levels of 150 to 1USD or even lower....so I can happily watch all those calculations go to shit .

Bad guy wasere

In the early 1960s Naira was strong than the $ and Euro

People were still going abroad to live and work, The man that designed "OGBUNIGWE" the locally made bombs was studying in Germany (nuclear physics), when the war started he came and volunteered t fight for Biafra....


Travelling didn't start today, INTERNET made you aware of the colossus

Treadway:
Niggas are legit making 4-5year plans praying/hoping/expecting that Naija keeps going downhill so the coins they come with will become tens of millions in itself. I do hope and pray if anything else that in 2023-2024 exchange rate goes back to pre 2014 levels of 150 to 1USD or even lower....so I can happily watch all those calculations go to shit .

Treadway:
your stats are correct, however at the bolded, I want you to see what Ahib wrote here for some insight. Sad truth is a lot of exports go on albeit illegally (as you have pointed out with crude oil theft AND OTHER PRECIOUS SOLID MINERALS!), but there are also exports carried out in Nigeria legally daily( most don't know this) but the transactions are unaccounted and unaudited. One good initiative that I can't fault Emefoole on is this one.

https://www.thisdaylive.com/index.php/2022/09/18/cbn-more-commodities-now-being-captured-to-earn-200bn-forex-from-non-oil-exports/
Ahib has already given some examples. The govt is trying to incentivize businessmen to run the exports rightly through the system, and not solo-runs/backdoor, so that the figures can be captured, and it is already having some good results. I can only hope the reach/scope gets wider, but make no mistake people dey into export trade big time underG. So, as per the bolded I don't think, or rather should I say, I hope the Dangote refinery will not be the only hope in this tragedy, even tho I recognise it will be critical in the early stages, at least 1-2years, but I'm optimistic the export sector will vibe-up so it won't solely be on Dangote refinery.

I know that very well. Onne Port is very busy in that aspect. I am not too certain, but I think it is the number one port for exports (excluding oil-related products) in Nigeria. There are lots of opportunities for exports of certain goods from Nigeria. However, to ensure higher revenues are generated from the exports of those products, they need to be processed to a higher level before eventual export. That is where constant electricity comes up because you are competing with countries like Thailand, Vietnam, Brazil, the Philippines etc. In Africa, you are competing with Kenya, Mozambique, Tanzania and South Africa, who by geographical location, would have their products cost less than those from Nigeria.

Treadway:
your stats are correct, however at the bolded, I want you to see what Ahib wrote here for some insight. Sad truth is a lot of exports go on albeit illegally (as you have pointed out with crude oil theft AND OTHER PRECIOUS SOLID MINERALS!), but there are also exports carried out in Nigeria legally daily( most don't know this) but the transactions are unaccounted and unaudited. One good initiative that I can't fault Emefoole on is this one.
https://www.thisdaylive.com/index.php/2022/09/18/cbn-more-commodities-now-being-captured-to-earn-200bn-forex-from-non-oil-exports/
Ahib has already given some examples. The govt is trying to incentivize businessmen to run the exports rightly through the system, and not solo-runs/backdoor, so that the figures can be captured, and it is already having some good results. I can only hope the reach/scope gets wider, but make no mistake people dey into export trade big time underG. So, as per the bolded I don't think, or rather should I say, I hope the Dangote refinery will not be the only hope in this tragedy, even tho I recognise it will be critical in the early stages, at least 1-2years, but I'm optimistic the export sector will vibe-up so it won't solely be on Dangote refinery.

there are 7 ship on the queue to export urea from dangote refinery each 23 m usd. Dollar will soon crash .

ahiboilandgas:
there are 7 ship on the queue to export urea from dangote refinery each 23 m usd. Dollar will soon crash .

money going to loan repayments. No be only crash

vibrant99:
Why do you people spread fake news and fears everywhere ? Learn which language to become citizen? Portugal the IT capital of Europe ? The eyes of the Mediterranean? Na wah for Una o.
This is why people keep calling me and asking about all this jargons you people write!

The easiest place to get a job in Europe with no single understanding of the language is Portugal , though you strong need the residence permit to get a job there and there is no way you can go around “hand payment “ it’s tough !

During summer alone , you can be doing 6 jobs in Lisbon , it’s the busiest time of the year as they see almost a 100% in population of tourists troop in.

The reason most people don’t know too much about Portugal is because it’s tough to cut corners there and most people avoid it , it laws is stringent and bureaucratic!

Great and lovely place and Entering Spain is hassle free, ….

How many Nigerians do you think is in Portugal ? Last year alone they gave the highest number of Visa to Nigerians , 760 approved Visas! They don’t want you!

Uk alone this year has give over 100k visas to Nigeria because it’s easier not necessarily better , choose where you want and work at it .

The same Portugal their citizens are emigrating to look for work in Africa (Angola)

Nawao

https://www.theguardian.com/world/2012/sep/16/portuguese-exodus-angola-el-dorado

ednut1:
money going to loan repayments. No be only crash

person that don't what any good new from Nigeria. You better think how to pay morgate and leave dangote.

ahiboilandgas:
person that don't what any good new from Nigeria. You better think how to pay morgate and leave dangote.

you claim to be a business man, but dont know how financings works He is heavily indebted to many banks and institutions. So it may take him like 5 years to break even. In the long term dangote and Nigeria will benefit, in the short term dollars will not crash as you stated above

ednut1:
you claim to be a business man, but dont know how financings works He is heavily indebted to many banks and institutions. So it may take him like 5 years to break even. In the long term dangote and Nigeria will benefit, in the short term dollars will not crash as you stated above

you know all this and not on forbe list . I know say Canada is lonely and boring place I will not engage further to keep you company tonite. Enjoy you boredom.