JasonScoolari:
Bvtch, nor go let pride pursue your helpers.

Since your husband is impotent, jump into my DM.

Boys full ground.

Amotolongbo:
And what is that?

Calitoscassius:
You are still here? engaging with the hairy ass trans old man?

Amotolongbo:
Hungry thing. Give that dirty thing to your father

JasonScoolari:
For the fun of it... As I nor too get many Orders from client today

Calitoscassius:
I know, same here, why not? It is my day off too. but seriously i suspect that is an old hairy balls man pretending to be female

JasonScoolari:
For now, She's a MAN....

No baby yet.

Maobichek:


The way out :
Policies from the government and prompt implementation of those police, areas such as finance, security, welfare/training of our security agents etc.

Let me give an example with subsidy, most of the companies government paid subside on fuel importation did not actually deserve such payments. Exaggeration of figures as a result of government officials interest in those companies ensured that the will to implement and monitor existing policies were defeated.

The issue of Beta Edu comes to mind, is it only appropriate to sack her while investigation can go on for months/years till everything would be swept under the carpet? What happened to appropriate sanctions,Incarceration, even death penalty (to the esteem)?etc.

JasonScoolari:
Bvtch, enter DM.

iwaeda:

Obi ko kolanut ni.

BreconHills:
The question is how an unproductive country that requires USD ( and has almost nothing) will fund its non productive and non productive tastes. Its not the government that has accounted for the slash in naira value. That is a combination of market forces catalysed by.

1. Under invested oil sector ( rig count has fallen from 35 in 2019 to 16 today) Rig count = crude bpd = USD

2. High US interest rates

3. Poor fiscal and monetary policies

4. Disincentives to work. E.g The new lithium company in the north will make more from hoarding USD than actually mining and selling lithium

So what is the way out? Let's start there.

Fujiyama:


^^^
Project Gazelle is definitely not a step in the right direction. The FAQs on the project say:

"By using the upfront funding, Nigeria can maintain the stability of its currency, the Naira, and increase its foreign exchange reserves. This can also be achieved by increasing oil production and exports, but due to current investment limitations, forward-sale contracts, such as the one used in NNPC Limited’s Project Gazelle, offer a more immediate solution".

You spoke about the inevitable results of this country's chronic underinvestment in new rigs (lets ignore for now the back and forth, big picture argument about oil being an industry in its death throes). I am very much interested in NNPC's specific plans (if any) to increase rig count from this loan...instead of all this dark, dangerous talk of tax and royalty pre-payments to a federal government - vainly trying to defend a floundering currency.



^^^
Project Gazelle is THE palliative short term measure - the facility is primarily for prepayment of tax and royalties to the FG for currency support, full stop.

We stand a chance of fixing the systematic problems you speak about only if the Project Gazelles of this world were used to finance stuff that actually matters in the long term - like infrastructure. But that isn't happening. Currency support clearly ranks higher on the priority list.

This wasn't what was sold to Nigerians during the campaign last year.

BreconHills:
Thanks for your informed contribution 👍

Fujiyama:


^^^


^^^
This isn't the usual. What has happened?

Do I detect some high grade sarcasm?

BreconHills:


Thank you.
It seems you believe that if the government sincerely wants to improve the lot of the Nigerian - they could. This focuses a lot on the savings and management side.

So one level this is true. Government would have to take difficult decisions. But you have not addressed the income side. Where does the money come from? Oil production would not improve immediately. In fact for NG to produce 2m
bpd the estimates are that it would need $50bn in
investment. This would take at least 5 years to
manifest.

Ok but what about the foreign remittances from diaspora? Those are supposed to have exceeded oil revenue right? OK the thing is hardly any of that money comes in through the cbn because of the wide disparity between official and street rates. So the only way is to allow official rates to rise above street rates which is what we are seeing now. As of today cbn rates are higher than black market on 30/01/24. If that continues ( not sure) the cbn will be able to attract more usd.

The second thing is what do with the estimated $30bn
sitting in dorm accounts - if the government offered a localised "eurobond" type interest paying instrument, it might flush some of that money out into productive use.

You can see that even these ideas contain big IFs. So we can expect things to be even more difficult over the next 60 days. My belief though is that speculation will be broken - I am honest to say I don't know how exactly but I do know that the government has gotten a good understanding into how so called " market forces" ( speculation) are operating. I expect speculation to crash. Book mark this.

There is no way out. Nigeria must punish speculative dealings that reward laziness and reduce the desire for real work. If it can do this we have a chance.

Expect the new refineries + dangote to create USD savings ( not cheap petrol o) which will translate into stronger reserves now that all revenues go to cbn not nnpc.

Forget the Edu's of this world. Their impact is dramatic but minimal. Let's deal with the guys pushing 5bn naira plus to buy fx

Franklyspeakin:
Continue deceiving yourself

Chicagograduate:
I don't know how much Tinubu is paying OmoKriminal and his online followers that they will see black and call it white.

Hondajosh:

DM.

Hondajosh:

DM.