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Nairaland Forum / Nairaland / General / Politics / Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira (38351 Views)
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Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Hoelujohn: 7:21pm On Mar 08 |
Helinus:How will those people that want to buy get hold of Naira? They will actually pay with dollars to get. That was why Russia didn't feel the impact of all the western sanctions 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Jemex003: 7:21pm On Mar 08 |
Arobaga: Ask your gullible zombies followers OK Tinubu is useless and become President then what about Your father! 3 Likes |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by spiSeyi: 7:21pm On Mar 08 |
Helinus:Ogbeni our clients would have to buy Naira with their currency before they can trade with us. Meaning, we will have some of our clients currency to trade with them. And most stuffs we use in Nigeria are from China 6 Likes 1 Share |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Dijita: 7:22pm On Mar 08 |
This long article did not state how joining BRICs is going to improve naira value. It does not matter the currency you are trading with. If your fundamentals is strong your naira will be strong. If you are importing everything up to tooth pick and you are not exporting much, no matter the political block you join, it is going to be the same. It is probably going to be worse with BRICS. But we shall see 5 Likes 1 Share |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by jojothaiv(m): 7:24pm On Mar 08 |
Rigie: |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by youngrichnigga: 7:24pm On Mar 08 |
Set to, will, planning to etc..this government don taya pesin 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by abobote: 7:25pm On Mar 08 |
I can't see the advantage in this. They will buy the oil in naira, and we will source for dollars to import items into the country, since we import virtually everything we use 3 Likes |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Terrahawk: 7:25pm On Mar 08 |
Meanwhile, Peter Obi is still looking for his stolen manhood π€£ππ€£π 2 Likes
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Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by themanderon: 7:25pm On Mar 08 |
Will the US and their lapdog Britain allow them? |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by BrodaBenad: 7:26pm On Mar 08 |
Nice nice! |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by oneman2k7: 7:26pm On Mar 08 |
Do we have the liver? Time shall tell |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by BigDawsNet: 7:26pm On Mar 08 |
Islie: Good news Finally paying off... |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by BrodaBenad: 7:26pm On Mar 08 |
Terrahawk:obsession 1 Like
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Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by chopnaira: 7:28pm On Mar 08 |
And some idiot in their coven said the US and the West have bought Tinubu π |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Awesome01(m): 7:28pm On Mar 08 |
Islie: If this is true. The United States will not be happy about it. This announcement is not too good and too early. Things like this ought to be done abruptly to prevent any body or parties from sabotaging it. And to also punish those oil trading saboteurs hoarding the dollars to punish us. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Elliotwaveforec: 7:28pm On Mar 08 |
So South Africa is a member, no wonder the liquidity of the Rand in the international market. Way to go Nigeria.
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Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by aywagze(m): 7:29pm On Mar 08 |
. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by themanderon: 7:30pm On Mar 08 |
abobote: It will surely reduce the pressure on forex. This is the reason Russia was able to stay very much above water despite the Western sanctions. They started selling their oil which is a necessary commodity to the Europeans in the Russian rouble making the rouble to appreciate against the dollar as Europeans scrambled for it to buy their oil. Even the Afghanistan Afghani rose against the dollar because a similar measure was adopted to save their currency. 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by jesmond3945: 7:30pm On Mar 08 |
Islie:charity begins at home. Trade oil in naira in nigeria before going international. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by being(m): 7:31pm On Mar 08 |
If Nigeria likes let it sell oil in cowries, it changes nothing aboutbthe economy. the fundamental issue is what is ur import demand value versus export value. For instance, u sell in naira, where will China get the naira they will use to buy d oil from? They will send goods to u.. the value of the goods they will send must be same as the value of the oil... Same thing happens whether d currency is $, pound or cowries... it is value for value!! U reduce usd demand and also reduce d supply at the same time... no effect 2 Likes 2 Shares |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by EmekaMD(m): 7:31pm On Mar 08 |
Great move. Nigeria should learn to play world politics if it wants relevance and to be taken seriously in the world stage. There's a reason why every world leader cares about South Africa and Egypt |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by lildush(m): 7:32pm On Mar 08 |
Una don dey get sense now abi? It's time to dump d Dollar oooo |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by 1chiboy: 7:32pm On Mar 08 |
Helinus:π€¨ |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by HighChiefZino: 7:34pm On Mar 08 |
Copy well oh |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Kilometres: 7:34pm On Mar 08 |
Izuogu4Presdent: Seun Fpmod Don't you think this moniker deserves a life ban? |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Saidfx(m): 7:34pm On Mar 08 |
I love the BRICS idea but Nigeria is not ripe for it. They should just continue this reform and concentrate |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by RaptorX: 7:36pm On Mar 08 |
Rigie:Blame the Saudis who entered into the petro dollar agreement in exchange for US military protection, since they are the largest oil producers so all the Opec countries like Nigeria even non open countries had to follow. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Mandate1: 7:37pm On Mar 08 |
Rigie:when every nation trades internationally in their local currency, the international market will become a mad house of confusion. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by 43Ronin: 7:38pm On Mar 08 |
Dogalmighty17:The guy is just useless and trying very hard to distract nigerians. I put it on record that Nigeria can never join BRICS. A country that is a slave market to UK and USA. He should try it let me see if they won't rekive him from power. Mumu man |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by lexy2014: 7:38pm On Mar 08 |
Ola9ja23: was Nigeria not great before? when did Nigeria stop being great? |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by johnjose68: 7:39pm On Mar 08 |
Islie: Let's wait for the comments of the fans of the man that gets his idea from mad men 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Mandate1: 7:40pm On Mar 08 |
ArewaNightmare:I'm certain Tinubu in his wisdom won't try this nonsense. It will completely lead to the collapse of the Nigerian economy. |
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