Laple0541:
OBJ, Jonathan, Tinubu, Atiku and Obi all agreed on one issue; ‘REMOVAL OF SUBSIDY’

Irrespective of whoever eventually removed it, one thing is certain, SUBSIDY IS EVIL…

We may suffer for a little while, but it’s obvious THE LONG TERM POSITIVE EFFECTS OF SUBSIDY REMOVAL FAR OVERWEIGH THE CURRENT HARDSHIP DUE TO ITS REMOVAL.

God bless PBAT
God bless Nigeria

baralatie:

The aim of the subsidy removal is to:
Free the dollar payments from fg account to nnpcl accts through the cbn.this will provide extra funds for the fg to act as buffer against the mounting dollar debts thdt is piling up pressure on the naira and inflation.
If the nnpcl is for example is spending $25 billion for import of oil products.it means the fg is under pressure to provide $25 billion thru the cbn(as major currency provider).it means if you are still importing .the fg is still under pressure to spend it's dollar earning and reserves.to cushion it the naira will be under constant pressure of devaluation and inflation.

But if importers have there own dollar reserves outside the fg reserves by way of other channels who are exporters.fine for the fg accounts.
If the fg do s not need to import fuel it means it dollar reserves will increase and will have a robust acct to tackle the debt it has incurred

lexy2014:


how can importers have their own dollar reserve?

where are they keeping this their own dollar reserve?

baralatie:

Well!
That is the problem that is disturbing as of now!
Nigeria does not have a $1 to $10 billion export generating sales company aside it's oil companies./related interest.
So in essence everyone is going to be speculating on volume of dollars that the fg has,how much it will disburse and looking at the volume of high demand because of imports.

lexy2014:


how then did you come by this...if importers have there own dollar reserves outside the fg reserves by way of other channels

baralatie:

Is cbn the only foreign exchange supplier as of today?
There are other players in the exchange market!
The problem is the volume difference between what the cbn can offer and what other people offer!
If Nigeria is spending $20 billion on purchases of oil product outside the fg which sources of coys can cope.
But if you are dealing with your everyday imports of cars and some other products all these other sources can cope to a certain degree.

lexy2014:


then my questions again...

how can importers have their own dollar reserve?

where are they keeping this their own dollar reserve?

Laple0541:
OBJ, Jonathan, Tinubu, Atiku and Obi all agreed on one issue; ‘REMOVAL OF SUBSIDY’

Irrespective of whoever eventually removed it, one thing is certain, SUBSIDY IS EVIL…

We may suffer for a little while, but it’s obvious THE LONG TERM POSITIVE EFFECTS OF SUBSIDY REMOVAL FAR OVERWEIGH THE CURRENT HARDSHIP DUE TO ITS REMOVAL.

God bless PBAT
God bless Nigeria

baralatie:

Use chatgtp

lexy2014:


was it chatgtp you used when you claimed that fuel importers in nigeria have their own dollar reserve ?

baralatie:

🤧🤧🤧🤧🤧
Is that what I said/inferred/wrote?🤷🤷🤷

lexy2014:


what did you "said/inferred/wrote"?

ajalawole:
Someone should bless me with a taken. things are hard for me this trying times.
8128334455
Palmpay.
God bless u all

ogmask:
Why should Dangote refinery import fuel when the raw material, crude, for the Dangote refinery is right here in Nigeria? I hope this is not another scam loading sha? I don't get it.

baralatie:

Use chatgtp 🤔

ajalawole:
Someone should bless me with a taken. things are hard for me this trying times.
8128334455
Palmpay.
God bless u all

Blackdisciple:


It amazes me when I hear nigeria import fuel to be honest, even me at home I feel as if I'm a fool for being a Nigerian walai, how would an oil producing country import fuel??

omojeesu:


Shameless cassava farmer importing gaari!

cyberguy72:
Former DPR

Reference:
So how will the naira cope with all these 'licenses to import devalue' as no one is talking about the Dangote Refinery commissioned with all the fanfare and back slapping a couple of months ago, a jamboree that is increasingly looking like Emefiele's infamous Abuja rice pyramids...

Omenlon:
Dangote refinery is a private investment, how and when they come on stream is their business. If they refuse to start business they are the one losing not any of us.

Reference:
So how will the naira cope with all these 'licenses to import devalue' as no one is talking about the Dangote Refinery commissioned with all the fanfare and back slapping a couple of months ago, a jamboree that is increasingly looking like Emefiele's infamous Abuja rice pyramids...

omojeesu:


I don't believe you but just in case you are telling the truth I will register YOU FREE with an Affiliate Telecoms Company called TopUpandGetReward then you can start a business from there.

Let know if you are interested.

Ijaya123:


Whee did you see Dangote on the list?

nairalanda1:


He is not on the list of importers

ogmask:


“Dangote refinery is surprisingly not among the first three companies, but there are strong indications that the company will be among the companies granted the importation permit in the near future,” another source said.

Next time read to the end, especially the last paragraph.

femisplash:
With CNG buses availability as from next month, we are in for a good ride.