Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,152,684 members, 7,816,790 topics. Date: Friday, 03 May 2024 at 05:14 PM |
Nairaland Forum / Nairaland / General / Politics / NNPC Secures $3bn Loan To Stabilise The Naira (24370 Views)
Tinubu: We Will Raise $10 Billion To Stabilise Naira, Boost FX Liquidity / Kalu Urges Buhari To Pick Lawan As Successor, Says He'll Stabilise The Country / Power: FG Seeks Fresh $3bn Loan As Darkness Pervades Nigeria(Punch) (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (Reply) (Go Down)
Re: NNPC Secures $3bn Loan To Stabilise The Naira by wonlasewonimi: 11:09pm On Aug 16, 2023 |
See the dude that has been preparing to be president before he was born flipfloping like olosho's slippers. 1 Like |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by CENI: 12:15am On Aug 17, 2023 |
Chai, this country. APC na wayo! When Obi went to Egypt to inquire about how we can improve our power sector, they mocked out of sheer stupidity and ignorance. Now, they went to Egypt to borrow. Nigeria sorry. 1 Like |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by skj1377(m): 12:15am On Aug 17, 2023 |
I said in the post " all domiciliary accounts should be liquidated first after the announcement of the new N80 per $ rate" using your example above new cars will be cheaper to assemble in Nigeria because their cdk parts will be brought in at the official rate of N80 per $. The example you stated above is a cash based transaction as your friend in Germany is an individual not a company. In the implementation of the policy I stated above each country all over the world will have a finite amount of companies money can be sent to. Payment to those countries may not be in cash even when cash was collected from you. There is what we call " Terms of trade" between countries that will have to be implemented for settlement of trade between those countries. Let me use your Germany example the terms of trade could be 100 knocked down car components for 1000 barrels of oil. If you apply form M you will find out no cash will be given to your friend as the balance of trade specifies cdk parts , you will need to go to parallel market at far higher rate to get cash to send to your friend. Unfortunately when you bring the car to Nigeria it will be far too expensive as such you can't sell it and will not be encouraged to repeat such business. This policy will be favourable to manufacturing in Nigeria while at the same time making importation of finished goods way to expensive. Don't forget an economic intelligence unit will monitor new industries producing machinery ,parts and chemicals previously imported. Why give MR A money to purchase a car when cars are assembled by more than 4 different companies within the country ? Such a person will have to proceed to parallel market to get dollars and send to his friend in Germany. Cars will by then be off the list of items Gov dollars can be used for. People requesting for dollars for medical tourism and education will have to proceed to parallel market as their degrees probably are available within the country in both public and private institutions. Don't forget this policy is for people who don't generate dollars but want dollars for reasons. For people who generate dollars a different set of rules can apply to them . This will further make citizens engage in export or service based businesses that generates dollars to repatriate to the parallel market for huge gains. Summary " people demanding dollars will be discouraged while people generating dollars will be encouraged" masseratti: |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by Versal: 1:50am On Aug 17, 2023 |
Taylor90:Igbo is your problem |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by bdon123(m): 5:43am On Aug 17, 2023 |
Loan to stabilise naira...wow. |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by billyG(m): 7:50am On Aug 17, 2023 |
leokid866:Look am not from d SE but this cun3 is looking like a zoo to me now. 1 Like |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by shugamummy: 8:28am On Aug 17, 2023 |
Patch patch no dey work. E go still tear 1 Like |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by Xox1945(m): 10:19am On Aug 17, 2023 |
Borrowed to Loot |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by masseratti: 10:25am On Aug 17, 2023 |
skj1377:i like your believe in "rules" and "laws" but you forgot it's Nigeria.. No matter the system you try to put on place that has two set of rules for same things different purpose, it will be abused in Nigeria.. One or if not one of the fundamental problem of Nigeria is the enforcement of laws.. Law enforcement.. It's almost non existent or extremely weak.. Even the law enforcer will be the law enabler or breaker, in your post you said there will be economy intelligent unit, my brother we already have efcc and SFU, that's their job, but is it working? My point is very simple, you know the kind of environment you are dealing in, if you want to encourage manufacturing, there are other ways to encourage it not by creating an exchange rate privilege platform that can be easily abused by others who are not manufacturing, the CDK example you are posting am very close to Auto dealers and I know personally an assembler.. I my self imported parts to be used on cars in 2013 2015,i know the rules and I know how people by pass it. Instead of selling $ to manufacturers at & 80, you can give them tax breaks, custom duty waivers or even subsidies their production, in that way you keep the $ rate exchange single and stable and not open to arbitrary abuse in any way. Rather than your complex method that will require a lot of man power to monitor who is abusing the system or not.. Am not saying your point is not good.. But it can only work in a law enforcing environment like China, USA or even morroco. |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by masseratti: 10:32am On Aug 17, 2023 |
Phraences:no Aboki cannot determine what they can't control.. Let me. Ask you a question, can you walk into the bank right now and buy $100? Without filling any form or paper work? Even if you filled it correctly will it be sold to you? The answer is no.. But some people are buying it even $100000,they are in the same country so of what purpose is the I&E window to you.. None Infact it's hurting your bank account because it's making the value of your account balance lower than it was last week, same amount lesser value.. Bread of 150 naira day before yesterday is now 200 naira. What's the point of your I&E window? This is the same method Nnpc used under Buhari, claiming petrol has been deregulated.. Meanwhile they were still fixing prices and paying subsidy, who is deceiving who? If you want to truly float the naira close the I&E window and sell at the parallel market price.. Buy at parallel market price, since the CBN is the highest holder of $ or NNPLC or the IOCs, those are the ones that will control the flow and the price of the $ against the naira.. Not the aboki on the street.. I net you under one week most of them will even close shop and find other source of income. |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by leokid866: 2:36pm On Aug 17, 2023 |
billyG:oh and which animal are you? |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by billyG(m): 9:38pm On Aug 17, 2023 |
leokid866:The animal call Human being what of you? |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by leokid866: 9:47pm On Aug 17, 2023 |
billyG:no animal is called human....you're either human or animal.....now please scratch your monkey brain and decide which animal you are π |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by Novice1(m): 8:07am On Aug 18, 2023 |
a4cube: Help me ask them oooo. This NNPC Kyari of a man is delving into too many things uninvited. I wonder why Tinubu is still retaining him. Trust him at your own peril. |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by billyG(m): 8:10am On Aug 20, 2023 |
leokid866:Yo FATHER! |
Re: NNPC Secures $3bn Loan To Stabilise The Naira by leokid866: 3:33pm On Aug 20, 2023 |
billyG:π€£π€£π€£π€£ shebi na you talk say zoo we dey......and you be baboon you live in the zoo.....πππ |
(1) (2) (3) (4) (5) (6) (7) (Reply)
Wikeβs Revelations An Indictment On Supreme Court β APC / Ikpeazu Wins At The Appeal Court, Uche Ogah Heads To Supreme Court / Ruga Settlements For Herdsmen: South-East Governors, Ortom, Ishaku, Reject It
(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. 44 |