₦airaland Forum

Artscollection:
Odiegwu!! Dollar at all time high speaks volume.speculators already know that cbn gun powder is at the lowest, na mugus dey believe all these tales by the sun light because na blatant propaganda this govt carry come. I only convert to naira when i need to.

I doubt if you understand the news/report sef.


Naira is officially 900/$ or so, the report is saying it will officially weaken to 1171/$, that means naira will further depreciate na.

The report is using the official rate and not the black market or parallel market rate.

So, how is it a propaganda?

oluplus:
Why am I seeing Standard Chartered logo when the report was issued by Standard Bank ?

Same bank.

SmartyPants:
Same bank.

No, not true.

Paraman:
They own standard bank

Are you sure?

hafeeanubasy:
2 has been done
That number 4, I don't know what is delaying BAT from doing it!

I will support state policing in as much as it is not being administered, funded or controlled by any of the state Governors.

The state Governors will turn state police into attack dogs. Another monster will be unleashed.

CatchMeIfUCanMO:
I doubt if you understand the news/report sef.


Naira is officially 900/$ or so, the report is saying it will officially weaken to 1171/$, that means naira will further depreciate na.

The report is using the official rate and not the black market or parallel market rate.

So, how is it a propaganda?

They where forecasting 3.4 percent increase in your economy with the high inflation rate that is yet to be tamed, that is pure propaganda because there is no proper indices to support that apart from the increase in crude oil sale which is yet to see the light of the day.
With the high Insecurity i wonder how that will be achieved.

Kenochi:
I took my time to read this article and sincerely there are certain cheering news and not too good news from the report
The cheering news is the rallying of the naira,I totally agree with this sense of thinking that the naira will start a strong rally this quarter,but for how long is something we need to really question
The second report amplifies what the former Deputy Governor of CBN,Mr Kingsley Moghalu recently advised,the urgent need to start diversifying our Economy
I sincerely believe that if this government is ready to sustain the rally of the naira,they need to quickly do the following:

1) Sell off at least Two Refineries
Reduce the wastage associated with those scrap metals
2) Give the states and local governments total control of Electricity generation and distribution
This model we are practicing is a total waste of government resources,allow individuals and willing states to generate electricity and distribute it at their a price that will be market competitive
3) Energise your Small and Medium Scale Businesses
This business that employ a minimum of two and maximum of 20,whose income is between 100,000 and 3 million should be given certain incentives to create more jobs and contribute to the growth of the Economy
4) Security
Allow the states and Local government to create structures that will secure their states.
What is happening in Abuja,Pleateau,Zamfara,Borno and states across the country with Banditry, Kidnapping and Armed Robbery can be fixed when states become more involved in securing their people
All crimes are local and it will take locals to help solve them

Still selling good properties at Ibeju Lekki Industrial Hub, kindly check my signature for more details

What part of ibeju lekki do you have properties for sale

propaganda doesn't help.

oluplus:
Are you sure?

Yes

Artscollection:
They where forecasting 3.4 percent increase in your economy with the high inflation rate that is yet to be tamed, that is pure propaganda because there is no proper indices to support that apart from the increase in crude oil sale which is yet to see the light of the day.
With the high Insecurity i wonder how that will be achieved.

Well, my focus is not on those areas you mentioned but on the depreciation of the naira which you termed propaganda because I know for sure these people can't by themselves give out news of naira depreciating.

You're talking as if I'm the president or the cbn governor or a government official.

CatchMeIfUCanMO:
Well, my focus is not on those areas you mentioned but on the depreciation of the naira which you termed propaganda because I know for sure these people can't by themselves give out news of naira depreciating.

You're talking as if I'm the president or the cbn governor or a government official.

Why quote me, you think iam here to score political points or you think i can't figure out propaganda when i see one. That point makes the whole write up look like one.

A little bit of good news.

2mercy:
*Says growth potential beset by worsening FX crisis, inflation, insecurity, others

*Forecasts naira to officially weaken to N1,171/$ by December

*Says manufacturing may be further constrained by FX shortages

https://www.thisdaylive.com/index.php/2024/01/26/standard-bank-report-predicts-increase-in-reserves-buoyed-by-domestic-oil-refinery-operation?amp=1

These are just economic projections... Time will tell.

Kenochi:
I took my time to read this article and sincerely there are certain cheering news and not too good news from the report
The cheering news is the rallying of the naira,I totally agree with this sense of thinking that the naira will start a strong rally this quarter,but for how long is something we need to really question
The second report amplifies what the former Deputy Governor of CBN,Mr Kingsley Moghalu recently advised,the urgent need to start diversifying our Economy
I sincerely believe that if this government is ready to sustain the rally of the naira,they need to quickly do the following:

1) Sell off at least Two Refineries
Reduce the wastage associated with those scrap metals
2) Give the states and local governments total control of Electricity generation and distribution
This model we are practicing is a total waste of government resources,allow individuals and willing states to generate electricity and distribute it at their a price that will be market competitive
3) Energise your Small and Medium Scale Businesses
This business that employ a minimum of two and maximum of 20,whose income is between 100,000 and 3 million should be given certain incentives to create more jobs and contribute to the growth of the Economy
4) Security
Allow the states and Local government to create structures that will secure their states.
What is happening in Abuja,Pleateau,Zamfara,Borno and states across the country with Banditry, Kidnapping and Armed Robbery can be fixed when states become more involved in securing their people
All crimes are local and it will take locals to help solve them

Still selling good properties at Ibeju Lekki Industrial Hub, kindly check my signature for more details

1. Selling off refineries is not the main problem getting enough crude oil to refine is the main issue. Nigeria production is not even meeting the quota how do you think they'd supply the refineries?! By importing crude oil with our hard earned dollars?!. I think allocating oil well to indigenous bourgeoisie and giving them tax credits on tax and royalties is better than selling off refineries.

2. Electricity is too expensive for states and local government to handle in Nigeria. How much do they get from FAAN that you think they can use on electricity. See, to have stable electricity in Lagos. Say, we are to generate 10,000mw/h, we need to spend nothing less than $30bn unless we want to be deceiving ourselves. Nigeria budget is not even up to $30bn

Most of the substations in Nigeria have 330kva powerline capacity receiving from the grid even lesser power while USA, China and advanced countries use technologically advanced power line of capacities from 1,500 kva to 10,000 kva. Our current infrastructure can't supply enough power, we have to upgrade and even destroy the ones we use. Even the federal government don't have the capacity to provide enough power for Lagos state alone not to talk about Local governments.

3. Well, I don't know who you want to empower when more than 120 million people live below poverty line of 1 dollar per day. Nigeria don't produce machines that these SMEs need to survive. We don't have good roads and railway system that leads to the port that will encourage exportation. Our ports don't even have enough capacity sef...
The incentives that government will provide for small business, they'll use it to pay for their children's school fees then attend prayer mountains for miracle to pay back loans.
IF YOU NEVER GET MY POINT, NIGERIA IS NOT STRUCTURED TO PROSPER AND TINUBU IS JUST BUILDING THE STRUCTURE NI, SO YOU MUST EXPECT HARDSHIP. EVEN IF PETER OBI WERE THE PRESIDENT NA SAME THING.

4. Sambisa forest the Nigeria army never conquer ham you dey talk say make state and LG dey oversee security. Na shakabula gun dem wan take face bandits and kidnappers?!.
See, na technology we fit take conquer security for Nigeria. Make we get our own rocket launcher make we launch our satellite dey monitor every information for Nigeria. Terrorists must communicate. "O di dan dan" we can track dem. Our soldiers and police suppose don get body cameras coz dem get terrorists within them. You carry gun give soldiers and police you no monitor dem and you want make security dey stable?!.
Stop playing.
mouth no dey solve Nigeria problem.

The above expectation is projected and assumed by a man born of a woman BUT God will surprise us here in Nigeria that our economy will boom and shame the above writer in Jesus name. Who is saying no when God says YES ?

Kaycee9242:
What part of ibeju lekki do you have properties for sale

We have properties at Folu Village,the property is 5 minutes drive to LaCampaigne Tropicana and 20 minutes to the Ibeju Lekki Industrial Hub

Also,we have properties at Ode Omi community which shares boundaries with Ibeju Lekki
Good Beaches and Lagoons surround this community and it is a great place to relax when the place eventually comes alive