dreamxhaser:


20k naira profit per week. Thats a lie

EnterpriseMan:
They're borrowing billions on dollars to pump into the fx to stabilize the naira and they think that is sustainable? .

EnterpriseMan:
They're borrowing billions on dollars to pump into the fx to stabilize the naira and they think that is sustainable? Or is it just to save face😐 Get to the root of the issue and stop borrowing away the countries future to save face from public mockery. Borrowing dollars to pump into the fx to bring down the naira is like using paper tape to seal a huge leakage on a water tank.

GreatrAnalyst:


You have contradicted yourself in one sweep.

Old stocks finishing,
Your greedy Nigerians are responsible...

Your IQ is that low? Must really be hard for you to cope being less than the average of the average.
But no sorry, just avoid discussion above your wits.
You should be okay, may be.

Jagabanbattle:
It’s another blow on hoarders today has Naira continue to strengthen against Us Dollar. Today, USDT/Dollar sells for #1,150

IMAliyu:
While I like the fact that the Naira is appreciating, but it seems to be artificial, and it seems our FX reserves are being used to defend it.
This is not sustainable, unless the CBN has some unknown plans to solve this.

advanceDNA:


Demand for naira is what largely will boost naira in a floating currency system....

...hope u understand that Dangote is not exporting crude oil products to other nations in naira...he's being paid in dollars for his exports ....

If care is not taken...the old man can start to demand for dollars from local market because he imports crude oil in dollars to refine...

His business operation will not significantly boost naira as Reno claimed without the government heavily paying subsidy on the exchange rate as they are doing now......

Thats why they are saying Reno is a paid propaganda spreader.....

Oluwademilade:


Marketers who currently import refined fuel will no longer need to source for $ to import since they can buy from Dangote in naira. If you’re holding $ you better sell now

ignis:
This is a short term fire brigade solution. Time shall tell.

advanceDNA:


Demand for naira is what largely will boost naira in a floating currency system....

...hope u understand that Dangote is not exporting crude oil products to other nations in naira...he's being paid in dollars for his exports ....

If care is not taken...the old man can start to demand for dollars from local market because he imports crude oil in dollars to refine...

His business operation will not significantly boost naira as Reno claimed without the government heavily paying subsidy on the exchange rate as they are doing now......

Thats why they are saying Reno is a paid propaganda spreader.....

Ballo1292:


Many of you that are arm chair critics and baby economist are appalling.

Dangote can never demand payment in dollar because he buys in naira from government for the crude.

Meanwhile, the % of what he buys from us are little to what we sell in dollar rates in the world market.

Many should just do a deep dive before commenting.

christejames:
Propaganda doesn't run government 😏

Ballo1292:

Many of you that are arm chair critics and baby economist are appalling.

Ballo1292:

Dangote can never demand payment in dollar because he buys in naira from government for the crude.

Ballo1292:

Meanwhile, the % of what he buys from us are little to what we sell in dollar rates in the world market.

Goodlady:
Glory be to God

MetalJigsaw:
How much are you still buying things in the market. Dey play

advanceDNA:


U funny........It doesn't invalidate my comment.u are just trying to deceptively make it appear so ......because u saying china and US are biggest importers hence imports yet have the best economy is a one sided statement......u know its because of their export..same US and china are the biggest exporters in the world..

Baba....importation is not even a bad thing especially if u have a good exchange rate..if u have the export to back it up.......

We don't have the export.....but Reno just fallaciously claimed gat Dangote's operation will automatically boost naira even said those with dollars will cry....they won't cry...because the naira won't improve greatly....

If Dangote wants to vex now..he can even decide to demand for dollars from oil marketers since he's buying the crude he's
refining in bought in dollars from outside


Have u accounted for corruption in this whole matter...Nigeria is the more u look the less u see ooo

advanceDNA:


My talk is even more plausible than Reno's claims...

because after we stop importing fuel which is good.....we are still on importing other things even toothpick and all types food including fish, so the demand for dollar won't go away.....

Don't forget corruption....the most common factor in Nigeria....shebi na Nigeria we dey the govt has no plan to take the exchange rate less than 800-1000naira....

They said it a week ago naaa...that any one expecting exchange rate less than 800naira is deceiving himself because they know they have no plans to drive export or improve economy...all they are doing is pegging the currency with our current dollar earnings because the inflation was getting too much

iamtoofan:


Now you are just throwing weight around, no regard for facts, incase you don't know china, russia and norway are countries that export more than they import
However US net import is more than they export yet china economic that recorded highest surplus is 2nd to US with trade ...

Dangote sold Diesel to marketers why e no vex collect dollar, asides paying expartriates is it dollar dangote will use an run overhead cost and administrative expenses in a Naira economy.

Bros you need to revise and study, don't just assume you know

Goodlady:

You sef dey play

chinchum:
Are you suggesting it is only until Nigeria increase exportation, naira can not improve?

A drastic cut in importation , all other variables being equal or with negligible change will improve naira. All sources I have see so far have quoted refined oil to be at least 30% of all importation to Nigeria.

Dangote will have other by products of the refinery asides petrol. diesel . AGO and jet fuel that may be exported as well as the refinery increases to optimal production.

The diesel Dangote is currently selling to Nigerian refined oil marketers would have been imported using US dollars.

Jagabanbattle:
It’s another blow on hoarders today has Naira continue to strengthen against Us Dollar. Today, USDT/Dollar sells for #1,150

advanceDNA:


My point is....Until u account for all the factors involved...u cannot claim Dangote's operation will automatically save the naira

advanceDNA:



I said huge export is what will greatly improve the naira/exchange rate....Dangote's operation alone won't significantly won't do it....u seff said other variables.....and other variables are not align

. the indices that contributes to a sweet exchange rate are many including low corruption.

Its fallacy to say once we don't import fuel anymore exchange rate will slide down to 200naira or 500naira.....

chinchum:

The lowest hanging fruit for Naira at this time is drastic reduction of refined oil importation via Dangote refinery & other refineries like Portharcourt refinery e.t.c