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Nairaland Forum / Nairaland / General / Politics / Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira (39300 Views)
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Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by lexy2014: 7:40pm On Mar 08 |
themanderon: is it because Nigeria does not sell crude oil in naira that there is pressure on the forex? 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Bfly: 7:40pm On Mar 08 |
Anyhow it is, Nigerians always need dollar even to import basic needs. The only advantage is that naira will be sourced which might eventually add value to it 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Empresa: 7:41pm On Mar 08 |
Why NOT join first or apply before making noise. This government like propaganda than hardwork |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by OChimex: 7:41pm On Mar 08 |
Ebubu2: If you seel your oil in Naira, they give you Naira, then how una go get dollar wey una go dey use import? Crude oil is the major source of dollars to nigeria 2 Likes |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Positivepoint(m): 7:42pm On Mar 08 |
Rigie: Yes with dollarized trade America is able to export it's inflation to the rest of the world while printing cash with no commodity backing to meet needs since surely the rest of the world will gladly buy the dollar for trade. 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by nedekid: 7:42pm On Mar 08 |
Good move. When we see a positive step we should commend oga at the top. Joining brics will greatly help the economy, ease Nigeria from the claws of the western financial system. Breaking it down to the minimum. Just imagine you want to buy something from China eg aliexpress. You then have to convert your naira to dollar before paying yuan. That is a discrepancy that will be sorted out. Imagine America recently threatening Ghana with financial sanction through imf and world bank, simply because they recently passed an anti gay law. Anyway, I hope oga at the to wount receive phone call for America threatening to expose him if he moves ahead with the brics plan. 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Tellmeastory: 7:42pm On Mar 08 |
AllenSpencer: We are ready for them. Let them start. Awon werey. 3 Likes |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Draslo(m): 7:42pm On Mar 08 |
Izuogu4Presdent:Na wa o. Dey try appreciate better thing |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Smithwilliams826: 7:42pm On Mar 08 |
Make them never join now. Make them wait till 2026 first. Na beg I dey beg oh. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Bluearrow: 7:42pm On Mar 08 |
themanderon:Your analogy is wrong Russia is a productive nation, most of the things used in Russia are manufactured in Russia. What is their importation level compared to export? A country that has attained the level of developing her nuclear facility is no small nation. Brics is not a magic association to transform a nation that is not productive. To be very honest, joining brics will worsen things for a poor & struggling nation like Nigeria. So long we are running an import based economy, nothing is reducing pressure on forex! 3 Likes |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Draslo(m): 7:43pm On Mar 08 |
lexy2014:Dey try do research before jumping to conclusions |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by GoodGovernance: 7:43pm On Mar 08 |
stupid headline! |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Akalia(m): 7:44pm On Mar 08 |
There is no sense in this move , it will not be of any immense benefits to our economy Tinubu is inept, he should just resign. He is too in a haste to impress but lacks substantial blueprint. 1 Like 1 Share |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Feldie: 7:44pm On Mar 08 |
They don't have the courage to do that. Our politicians have assets in the US and UK. They will be blackmailed |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by GoodGovernance: 7:45pm On Mar 08 |
Misleading headline! |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by lexy2014: 7:45pm On Mar 08 |
Draslo: can you show me the conclusion you are talking about? how is a question a conclusion? are you aware that asking questions is the foundation of research? since you have done research, then answering my question should not be a challenge for you: is it because Nigeria does not sell crude oil in naira that there is pressure on the forex? 3 Likes |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Feldie: 7:46pm On Mar 08 |
Rigie:because the US won the cold war and they will kill you if try to ditch their currency. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Morbeta11(m): 7:46pm On Mar 08 |
Helinus:What a repentant thought process....welcome back😂 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Och77(m): 7:47pm On Mar 08 |
I am not understanding something, if we sell in naira, won't that bring more pressure on the naira , because oil is the major source of dollar for Nigeria |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by PHAYOL81: 7:48pm On Mar 08 |
Great |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Chukwuka319(m): 7:48pm On Mar 08 |
Nice development.May God help BAT to reposition Nigeria for a greater prosperity and increased development. Joining BRICS might give Nigeria just a right leverage to grow economically and integrate economy wise more fully with the existing member countries. But the West won't be happy with this,at all. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Feldie: 7:49pm On Mar 08 |
Dogalmighty17:that will means BRICS now control the world's oil supply. Russia will be happy and not the other way round. Besides UAE produce many times as much more oil than we do and they've already been accepted |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Adeolajude(m): 7:50pm On Mar 08 |
A country of May...shall...will.. probably...never a word like has...nonsense people |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Boondocxs(f): 7:50pm On Mar 08 |
Better to steal public funds in Naira than in 💲dollar |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by lechboy: 7:51pm On Mar 08 |
Joining them is not important What is important now is how to reduce hunger first 1 Like |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by frog12: 7:52pm On Mar 08 |
I dey laff |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by olisaEze(m): 7:52pm On Mar 08 |
Once you hear 'may' just know the report is a figment of the reporter’s imagination.
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Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by a4cube: 7:53pm On Mar 08 |
He should remember his doctor is from West. Paris abhore BRICS. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by JagabanB: 7:54pm On Mar 08 |
Helinus:Global economy don't run on one road side analyses. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by Phabulous4(m): 7:54pm On Mar 08 |
Like the Happy Boyz. Always. Helinus post 128843873: We import most of the things we use. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by JagabanB: 7:55pm On Mar 08 |
ArewaNightmare:As usual, since it's not done by Lienus. |
Re: Nigeria Set To Join BRICS, May Start Trading Crude Oil In Naira by blackgold2018(m): 7:55pm On Mar 08 |
tuoyoojo:I don't believe the APC government until it happens. Its a good thing dou. But for now, it's just a propaganda. And moreover do Nigeria think its that easy from powers that be. |
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