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Nairaland Forum / Nairaland / General / Business / Naira Is "World's Best Performing Currency" In April - Bloomberg (40580 Views)
Nigeria's Naira Reverses Back As World's Worst Performing Currency — Bloomberg / Russia's Ruble Is the World's Best Performing Currency / Why The Naira Is Now Gaining Against The Dollar (2) (3) (4)
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Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 9:53am On Apr 14 |
Kukutenla:You didn't imply it. You declared it was a percentage. Do you mind putting up your formular again to prove me wrong? |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 9:57am On Apr 14 |
Kukutenla:You are splitting hair, monkey. The claim from legendhero and generadae was that pdp had better oil prices on average than apc, in some cases an average around $100 for certain years. You said it wasn't so. These calculations proves again that you are nothing but a pretentious idiot. If you had any shame you will curl your tail between your legs and run. Under Jonathan he had an average of $88 for his six years. Is that not close to $91 enough? 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 10:08am On Apr 14 |
LegendHero:Even PDP never disputed they got more. Yet the currency plummeted more under them. LegendHero:He's not that learned obviously. LegendHero:Someone who doesn't know a percentage can be in decimal form can not understand the principle of average. LegendHero:@ first bolded , his grasp of English language is shaky. @ second bolded, good advice. 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 10:16am On Apr 14 |
Kukutenla:A $3 differential is nothing to gloat about? That's on each BPD for about 7 years! You are truly a monkey. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 10:24am On Apr 14 |
Kukutenla:No, he wasn't busted on that. Buhari was right the paper was wrong. Or are you ready to say pdp got less? Kukutenla:The bolded is the reason we calculate averages. Just divide by the number of years available for each. So what do you mean by someone had a longer spread. Mtchew. For all intents and purposes, you are stupid. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 3:05pm On Apr 14 |
predictor1: Don’t mind the guy. He was probably bored and trolling people because how can he consistently argue against logic for almost 3 days. 2 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 5:33pm On Apr 14 |
predictor1:You're really daft. This is the formula: ((current value-previous value)/current value)×100 Input the values and show me if you'll get 0.88%. You're simply dull. Run the calculations yourself and stop exposing your mental laziness |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 5:43pm On Apr 14 |
LegendHero:Again, you're still cherry picking. Oil production is within the control of each govt. It is oil price that's out of their control. If you don't understand that basic fact, there's nothing you can understand. It is the same oilfield that are available to both parties. So if one poorly manages the oilfield, it is not the other's business. In SWOT analysis, you mitigate for OT but focus on SW that's within your control. It's a basic fact in managerial science. If you're going to account for low oil production under APC as an excuse, one can also point to the debt pay off under PDP which was worth over $12bn. You will also have to factor in the fact that PDP left over $2bn in their excess crude account and SWF of $2.5bn. If you add all those together, that's over $15bn that APC can be said to have gained from PDP's crude oil sales. Yet, they crashed the naira by a nominal value of over 500%!! Remove that from PDP's crude oil revenue and you see that APC even gained more from PDP. So what's your point again? Again, the reason why the newspapers focused on oil price is because that's the only veritable excuse a govt can have since it's out of their control and also easily verified. Oil production is not easily verified and is totally under the control of the govt. If you can't understand these basic facts, then you don't understand anything |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 5:47pm On Apr 14 |
predictor1:You're a dimwit. APC and PDP have almost equal oil price. Your did the calculations yourself and your earlier projection came out wrong and your brother had to run to crude oil sales to save face and you still have the nerve to write senseless drivel. You must be a swaddling troglodyte |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 6:00pm On Apr 14 |
LegendHero:You're not enlightened. Go and check NEITI report about transparency in Nigeria's oil sector. It is one of the most opaque in the world. The fact that they have not spent equal number of years is why average comes in handy. For example, if by the end of this year, Nigeria starts to produce 3m barrels as proposed by Tinubu and with the present oil price and outlook, APC will have almost double of the revenue PDP had at 16 years. If that happens, are we going to say APC fared better than PDP simply because they were able to increase oil output? The fact is the average oil price shows the revenue per barrel. One can claim to outdo the other in sales. It's neither here nor there. Again, nnpc does not sell crude to the refineries. It is given to them freely for local consumption. It is just like the 90k barrel used as collateral for Afrexim loan. It will not reflect on nnpc books because it's an allocation for the Gazelle group. If you don't have the full data, you can't be making conclusions. That's what the first four years is for. That's how to do statistics and not your fraudulent method of starting from 2006. 65 and 62 is not much in terms of difference. You claim to be a student of engineering. Is an error margin of +/-3 a big thing? My point which is clear and which the different news outlets agree with is that Nigeria's crude oil price on average is not much difference between PDP and APC years. Any other thing is total nonsense. No one is going to increase your crude volume for you. APC are just proving to be lazy and full of excuses. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 6:09pm On Apr 14 |
Kukutenla: At this point, I am not arguing PDP generated more revenue than APC with you again. That argument has already been resolved with the data I presented. So you either accept the self evident truth or find one of your neighbor to continue the nonsense argument with. I have better things to waste time on. For the above, NNPC sells to local refiners, stop saying rubbish on the internet. How can you even imagine NNPC will give it to them freely? Do you even think at all? Read the below and cure your nonsense ignorance. https://businessday.ng/energy/oilandgas/article/local-refiners-now-buy-crude-in-naira-at-cbn-dollar-rate/?amp=1
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Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 6:33pm On Apr 14 |
LegendHero:Exactly. Stop making silly arguments because each party is responsible for how much oil is produced under them. The variable they don't control is the crude oil price. If all you want to do is make excuses for APC's failure, I'll be happy to oblige you. It's obvious you enjoy being confused. How many modular refineries do we have and how many are operational. The largest refineries are govt owned with over 400k capacity. The modular refineries even from your link have combined capacity of 30k. Besides, as at 2006, there were no private refineries in Nigeria. The first one was commissioned in 2013 and I'm sure it was not fully operational then. As a matter of fact, it started operations last year. Govt refineries get free crude. And they get it periodically. That's a fact and it's their volume that can account for that differential in your unreliable data and not some measly 30k refineries that hardly operate. That Edo refinery you brandished has just 6k capacity. Is that the refinery that accounts for a differential of almost 500k between produced and export? |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 7:13pm On Apr 14 |
Kukutenla: It’s now evident you’re just trolling. —This is your premise: Nigeria NNPC do not sell crude to local refiners. —I showed you evidence showing they do sell the crude. —Now your baby self is crying that it’s only 30k or 2k barrels, how is that my freaking business? —So if no Nigeria crude refiners can refine, who are NNPC gifting the oil to then? Are they using it to fry akara? You can see I no dey take you serious again, you’re still a child. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 7:26pm On Apr 14 |
LegendHero:It's obvious you and that guy have problem of comprehension. Go and read what I wrote well. I wrote refineries not local refiners I'm referring to NNPC's refineries that get statutory allocation from NNPC crude. Together, they have capacity of 450k. Compare that with your local private refiners whom you're referring to with combined capacity of less than 30k and it'll be clear who is saying rubbish. Go and check the margins of the records you posted yourself and see if the amount not recorded for export is 30k never mind that there were no private local refiners until very recently. Always learn to understand issues and context appropriately. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 7:39pm On Apr 14 |
Kukutenla: I wrote local refiners in my mention to you and I even mentioned Edo refinery in it. Even in your JAMB question on your post, you asked “ Who is NNPC seeking crude to locally?”. That’s when your brain is playing pranks on you because your brain can’t understand that NNPC do sell crude to local refiners. Dead this argument, you are talking jargons all through. Note that I am not arguing with you again, because you have lost the right to that from me. I am just scolding you like a child now. So you either pay attention and listen or continue this path of fighting against logic.
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Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 8:04pm On Apr 14 |
Kukutenla:So this idiot is back from the dead. Well, your formula is wrong. It should be (Previous Value- Current Value) ×100/Current Value Back to your formula. You already multiplied by 100. That means your answer 0.88 is already a percentage. So why did you deny that it was a percentage before? For the umpteenth time, that answer is a percentage in decimal form. Show any 10year old around you. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 8:06pm On Apr 14 |
Kukutenla:"Almost" can't give you the bird. So which one of them had the higher oil price average? APC or PDP? In terms of average 3 is a huge gap, you monkey. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 8:14pm On Apr 14 |
LegendHero:You gave data from 2006 right? Who was NNPC selling crude to in 2006 locally You can start your scolding now |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 8:15pm On Apr 14 |
predictor1:You're dumb imbe.cile Use the formula yourself and stop advertising your poor education. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 8:17pm On Apr 14 |
predictor1:You claimed PDP had $91 and APC $56 You later gave calculations and arrived at $65 for PDP and $62 for APC Which do we go with as the correct one and which do we discard as product of your madness |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 9:21pm On Apr 14 |
Kukutenla:Your mouth is sharp now you've woken up from the coma we sent you into. You don't even understand your own formula. The formula for rate of depreciation is *100 not divided by 100. It's a percentage. There's no way you can get the 88% you claimed yesterday. Who taught you maths? This idiot just went to the internet, copied a formula he knows nothing about and confused himself. Total waste of money on education. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 9:23pm On Apr 14 |
Kukutenla:At least you saw what I got with the precise calculation. And you've been using my own figures since yesterday. You are morally and educationally bankrupt. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 9:27pm On Apr 14 |
LegendHero:True true, his mind is playing tricks on him. Lol@ bolded. If I were that boy I'll deactivate. He's disgracing himself. 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 9:33pm On Apr 14 |
predictor1:Bla bla bla like a deranged goat Use the formula and show that it gives you 0.88% or fvck off It's obvious you're trying to mask your poor education Someone who can't convert decimal to percentage You should be ashamed of yourself |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 9:35pm On Apr 14 |
predictor1:Which of your figures is correct 91, 56 or 65, 62 Numbskull |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 9:36pm On Apr 14 |
predictor1:Lol. This waec failure suddenly knows maths Eight wonder of the world |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 7:12am On Apr 15 |
Kukutenla:Go and sit down, olodo. You are not ashamed of yourself. You allowed yourself to be boxed into a corner. You brought a formula which was actually the correct formula but because you couldn't defend the 0.88% you changed the formula to a wrong one. Percentages can also be decimals and fractions since you didn't know. Which polytechnic did you drop out of again? |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 7:13am On Apr 15 |
Kukutenla:Which ones did I give you that you've been running with for days now, oponu? |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 7:15am On Apr 15 |
Kukutenla:Olodo. I didn't know you were this stupid. Are you not the one that got 0.88 and said it could not be a percentage because it was decimal? |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 7:42am On Apr 15 |
predictor1:Ode who never went to school but its here during rubbish First you disgraced yourself by confusing decimal for percentage. Primary school maths fa. Learn today the sign for percentage is %. Idiot Secondly you claimed PDP had $91 and APC $56 and you will soon disgrace me with calculations Thirdly you turned round to say PDP had 65 while APC hat 62 Anyone can see that you're a naturally daft olodo who is poorly educated and lack the least modicum of common sense |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 7:43am On Apr 15 |
predictor1:You gave me 91 and 56. Then like a dullard, you turned round and gave 65 and 62. Like a slowpoke that you are, you can't even get numbers correct. Which should we go with. Answer and stop blabbing like a fool. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 10:02am On Apr 15 |
Kukutenla:Which one have you been using to argue with legendhero? You are such an idiot. |
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