₦airaland Forum

Peterzoom20:
Yeah I know this is awkward sir and I'm sorry for it, I just saw your comment while reading through the thread reason why I did so, my main I used to talk to you was also banned for a lengthy time, for what reason I don't know sir, once again if you see this d wrong way im sorry sir.

August 10 2034!😅 Never knew people can be banned that long. Sorry o. Las las we'll be alright

.

Peterzoom20:
Yes I didn't complain so as not to get this one banned for a decade too, Amen sir sorry for still asking sir please is it still possible for u to help me dis nite,I really don't like the fact I'm doing this but at the moment I'm just confused sir.

Like I said, I truly appreciate your asking - makes me feel like a big shot Unfortunately there's no way I can SEND anything. If u w were around me I'd give u directly in your hand

DaddyCoool:
Like I said, I truly appreciate your asking - makes me feel like a big shot Unfortunately there's no way I can SEND anything. If u w were around me I'd give u directly in your hand

Alright there's no hope for me truly, thanks very much sir, I'll just keep viewing your posts in the foreign section just like on my former acct, I'm once again sorry for disturbing you with this, thanks and have a good night sir. 🙏

Blazetrailer:
Daft analysis

Only NNPC imports fuel into Nigeria and it uses its line of credit. Local marketers buy from NNPC. It has nothing to do with the exchange rate.

Get educated.

you are more daft than ya fcking analysis,because you believe all the nonsense kyari and his cabal feed your fowl head with.YOU IGNORAMUS,

Akpaamunsi:
What is your business with what happens in the next 50years as a dead carcass?

I want to know if your dead black ass has got some chips in it dumbo

MT:
You will need to take that 40% from our existing consumption of dollars, the result will be heavy reduction in our demands for dollars and naira can breathe.

This is a simple mathematics

Our demand for dollar is insatiable and won't go down anytime some.

Ouch!!......i know it hurts for one to suddenly realise that he or she is empty headed, on a public platter kike this. Especially when you are limited in readining capacity as seen in your post below.

For knowledge, NNPC imports fuel using a line of credit which is predicated on Nigeria future oil inventory and sales(go and read futures/derivatives market for better uhderstabding). So they dont buy forex or need forex to import. The line of credit limit was about $5.5bn and once they reached that amount the creditors refused to extend the limit hence they cried out that theyvwere owing and ulensss they find a way to pau, they woukd not be able to sustain the supply to the local marlet

Dangote selling everuthing for local consumption to NNPC in naira has little or no effect, especially when no one was buying forex from the Nigerian market to import fuel. Only NNPC was importing and they were using futures on a credit line to import. If Dangote was selking to the market openly and if there were independent marketers alloeed to import as during Jonathans time, maybe it could have an effect

Come back and thank me later in some months for this snall knowledge i have given to you

PARADIZEPRIEST:
you are more daft than ya fcking analysis,because you believe all the nonsense kyari and his cabal feed your fowl head with.YOU IGNORAMUS,

God have mercy!!
What sort of reasoning is this

MT:
So let’s agree with your ASSUMPTIONS that NNPC cannot satisfy Dangotes crude oil needs fully, have you forgotten that Dangote will export some of its product abroad and earn dollars in returns.

That dollars earned can be used to pay for the crude oil it seeks somewhere else.

So tell me how does this put pressure on the naira?

Can you still say you have any sense at all ?


Don’t forget all you typed was assumptions and not facts.

Blazetrailer:

Lol..lol!!...lol!!
For someone who doesnt understand how a credit line for mumtinstional works and thought part of the reasons for naira devaluation was because NNPC was scouring the forex market in Nigeria for USD to pay for the imports, there is absolutely no need to engage you further.

Abeg....i no fit waste time to educate an overgrown bear.

In 4 months or so when the naira ramains where it is or even worsens, you will be forced to do some self studying to improve your thinking on your own.

Well my educated brother, why the insult in a gentleman's discussion?
I only asked for your educated solution.
Yet still you have avoided the questions and have refused to answer, rather you have chosen insult which unfortunately does not portray intelligence...

Nigeria's economy is in decades long mess with debts caused by your line of credit argument, choking corruption, and you expect total change in four months?
You sir, are actually the undergrown bear.
Have a lovely day...

Lol...if APC wanted to get online e-warriors, they should at least get the educated ones....for the sake of the public funds they are wasting....


....these ones are too dull.....like the one below....doesnt know what a line of credit/futures mean but wants to engage in a public discourse...imagine??

fatboyslym007:
Well my educated brother, why the insult in a gentleman's discussion?
I only asked for your educated solution.
Yet still you have avoided the questions and have refused to answer, rather you have chosen insult which unfortunately does not portray intelligence...

Nigeria's economy is in decades long mess with debts caused by your line of credit argument, choking corruption, and you expect total change in four months?
You sir, are actually the undergrown bear.
Have a lovely day...

Blazetrailer:
Lol...if APC wanted to get online e-warriors, they should at least get the educated ones....for the sake of the public funds they are wasting....


....these ones are too dull.....like the one below....doesnt know what a line of credit/futures mean but wants to engage in a public discourse...imagine??

Oh sorry oh!!!
I hope you get well soon... Take your drugs and stay away from depressing news like Nigeria is gradually refining its crude oil.

I will cause you no further relapse by engaging you... Please talk to someone, a friend pastor or Imam, I would suggest a shrink

Depression is real folks... I suspect post election loss PTSD

Lol...someone who doesnt know what a line of credit means in financial terms shoukd never have access to a phone nor the Internet.

Can you get off internet please?

fatboyslym007:
Oh sorry oh!!!
I hope you get well soon... Take your drugs and stay away from depressing news like Nigeria is gradually refining its crude oil.

I will cause you no further relapse by engaging you... Please talk to someone, a friend pastor or Imam, I would suggest a shrink

Depression is real folks... I suspect post election loss PTSD

Naira20:
Don't sell your dollars o....
If you can, buy more and store away from Nigerian banks.

I don't ses the naira gaining much on the dollar anytime soon.....the naira has actually found it's true value as we were over defending the naira before now to the detriment of our economy......exports have now increased and what we need to assiduously strive for is to ramp up production across all sectors to be able to shore up our GDP.

KaLuCh:
Do you understand that our currency was devalued?




Kindly educate me on why the naira was devalued twice.

Scratching my head. Oh I think I get it. We needed so much naira to buy dollar that we decided the natural thing to do will be to further reduce the value of naira so we can get even less dollar with it? Genius!!!

Back to topic.

40% of the demand on FX is projected to be eliminated. So we have 40% suplux. The CBN would loose approximately 25 to 35% influx of FX via local currency sales of Crude oil, leaving us at about 5 to 15% suplux. And it is safe to say that other economic factors will easily mop up that suplux but let's say they don't, you really think this is the magic wand we need to wave and fix the Naira?

I think not.

We had been over defending the naira pre tinubu without commensurate productivity to support it.....this has become unsustainable and an heavy strain on our economy.....what we need to urgently do is to improve productivity accros all sectors and the govt needs to meticulously administer much needed stimulus to boost the economy and block leakages as much as possible.

Your currency can't have any reasonable value if you aren't productive, simple!!

flokii:
Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.

This cannot happen overnight but it's never too late to start.....it took china several decades of painstaking hard work to get where they are today......the hard work is what many of us don't want to do or accept.

Ikaeniyan0:
The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

The CBN will now have more dollars at their disposal

Not true!! There are other sectors that would eat that differential up!! It them depends how well the CBN can manage that by channeling it into more productive sectors like manufacturing

Bobodee09:
Why are advising hoarders of dollars.

By October they will know howfar.

Can you all see how independent marketers are very quiet., trust me many fueling station will close up before December.

Filling stations would improve and this is the time to even invest but u see those tank farms....they are gone for good!!

Lithiumite:
Not true!! There are other sectors that would eat that differential up!!

So which sector is going to eat the billions of dollars we spend on importing petrol? What's the thing we will be importing that we have not been importing before

I don't see any new thing we're going to be spending billions of dollars on

When Dangote start producing LPG, we won't need to be spending a lot of dollars importing it too

Blazetrailer:
Lol...someone who doesnt know what a line of credit means in financial terms shoukd never have access to a phone nor the Internet.

Can you get off internet please?

Let me explain folks.
The subject is showing symptoms of post election loss PTSD (PEL-PTSD). While not yet clinically diagnosed, these are the common symptoms seen.
- irritability or anger
- emotional distress and hopelessness
- nightmares or flashbacks of loss
- resentment towards political systems like INEC, Judiciary, ruling party.
- disillusion and hallucinations: believes everyone that dares to hope is collect money from APC.
- can't hold meaningful and sustained conversation.
- could show signs of aggression and violence.

Coping mechanism:
- Talking it out with a shrink
- Limit exposure to News
- Engage in self care

What to do when engaging PEL-PTSD?

- If online
Gradually disengage from the conversation.
Encourage him to get help from a shrink
End the conversation so has not to endanger people around him.
- If you are with them physically
This is a different ball game.
If outnumbered or alone with them agree with their point of view. Better to be wrong than hospitalized.
Wish P. Obi was president that naira would have been #100/$ or lower, Nigeria would suddenly become a producing economy without transitions, and other myths that soothes their hearing.
Gradually disengage and find the nearest exit.

While post-election loss PTSD-like symptoms are not as severe as clinical PTSD, the emotional distress can be very real. Seeking professional support can be helpful if symptoms persist or become overwhelming.

Lol....you see when we say these useless APC should engage or deploy educated e-warriors and not any semi literate.

Never even got involved in Nigerian past 2 elections, never a supporter of all the candidates...they are all thieves.

So for this retard to connect any discusion to election shows how dimwitted he is.

Simple, Dangote selling to NNPC in Naira can not and will never affect the value of Naira because NNPC was not sourcing for local forex to import fuel in the first place.......it uss futures tied to iys line of credit ......lobatan!!

This is what is too difficult for the buffon to comprehend....lol.....now writing epistles about elections that I never even took interest and had left their country fir them....lol!!

fatboyslym007:
Let me explain folks.
The subject is showing symptoms of post election loss PTSD (PEL-PTSD). While not yet clinically diagnosed, these are the common symptoms seen.
- irritability or anger
- emotional distress and hopelessness
- nightmares or flashbacks of loss
- resentment towards political systems like INEC, Judiciary, ruling party.
- disillusion and hallucinations: believes everyone that dares to hope is collect money from APC.
- can't hold meaningful and sustained conversation.
- could show signs of aggression and violence.

Coping mechanism:
- Talking it out with a shrink
- Limit exposure to News
- Engage in self care

What to do when engaging PEL-PTSD?

- If online
Gradually disengage from the conversation.
Encourage him to get help from a shrink
End the conversation so has not to endanger people around him.
- If you are with them physically
This is a different ball game.
If outnumbered or alone with them agree with their point of view. Better to be wrong than hospitalized.
Wish P. Obi was president that naira would have been #100/$ or lower, Nigeria would suddenly become a producing economy without transitions, and other myths that soothes their hearing.
Gradually disengage and find the nearest exit.

While post-election loss PTSD-like symptoms are not as severe as clinical PTSD, the emotional distress can be very real. Seeking professional support can be helpful if symptoms persist or become overwhelming.

Ikaeniyan0:
So which sector is going to eat the billions of dollars we spend on importing petrol? What's the thing we will be importing that we have not been importing before

I don't see any new thing we're going to be spending billions of dollars on

When Dangote start producing LPG, we won't need to be spending a lot of dollars importing it too

We haven't gotten any where near 50% of our manufacturing capacity and more materials still needs to be imported,the manufacturing space will be expanded and smaller players who had hitherto been crowded out will be able to come in.......also the zero tariff policy on food by the govt,you need Forex to meet that increased demand for imports......our forex demand can never be fixed and there are so many factors that can eat up all ur forex you make available even if its times 2 what we already have in the market.

Lithiumite:
We haven't gotten any where near 50% of our manufacturing capacity and more materials still needs to be imported,the manufacturing space will be expanded and smaller players who had hitherto been crowded out will be able to come in.......also the zero tariff policy on food by the govt,you need Forex to meet that increased demand for imports......our forex demand can never be fixed and there are so many factors that can eat up all ur forex you make available even if its times 2 what we already have in the market.

What exactly in the manufacturing sector are you talking about?

Only in the food sector will there be an increase and the zero tariff policy is just for 6 month and I don't see it gulping close to what we're spending on importing fuel

From next month, Nigerians wont also need to import naphthalene again and maybe LPG

Blazetrailer:
Lol....you see when we say these useless APC should engage or deploy educated e-warriors and not any semi literate.

Never even got involved in Nigerian past 2 elections, never a supporter of all the candidates...they are all thieves.

So for this retard to connect any discusion to election shows how dimwitted he is.

Simple, Dangote selling to NNPC in Naira can not and will never affect the value of Naira because NNPC was not sourcing for local forex to import fuel in the first place.......it uss futures tied to iys line of credit ......lobatan!!

This is what is too difficult for the buffon to comprehend....lol.....now writing epistles about elections that I never even took interest and had left their country fir them....lol!!

Folks this is the part you gradually disengage(online scenario)... Note you can never reason with delusions
Ok noted thanks for the insight.
Do have a wonderful day. Wherever you are in the world or Nigeria.
And my regards to the president of your new country...

And you never respond again...

Ikaeniyan0:
So because it was devalued, it now means it can't gain value again?

There's a reason the government devalued the naira twice and I doubt you know why

The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

confidently talking nonsense!

Bia.....where are you running to. Come back here!!

Daft....hope u are not planning to sire and bring up another retard like you as an additional problem to Nigeria, a country contending with the problems of too many morons....anyway, no sane woman will dare open her legs for something like you, so i dont think that would happen .....except with a feminine version
of a dimwit Like you

fatboyslym007:
Folks this is the part you gradually disengage(online scenario)... Note you can never reason with delusions
Ok noted thanks for the insight.
Do have a wonderful day. Wherever you are in the world or Nigeria.
And my regards to the president of your new country...

And you never respond again...

Ikaeniyan0:
What exactly in the manufacturing sector are you talking about?

Only in the food sector will there be an increase and the zero tariff policy is just for 6 month and I don't see it gulping close to what we're spending on importing fuel

From next month, Nigerians wont also need to import naphthalene again

The manufacturing sector is very vast and we are still not self sufficient in many areas.....take steel for example,do you know how much steel we need to drive the economy to a $1 trillion GDP,do you know how much inputs are needed in the food and beverages sector. The difference here is that if we ramp up our imports for manufacturing by adding value,the impact will be felt in the economy.

At this point we cannot allow dollar rates to go too low so as to drive up dysfunctional demand that won't be good for the economy.....if you produce more you export more!!

Lithiumite:
The manufacturing sector is very vast and we are still not self sufficient in many areas.....take steel for example,do you know how much steel we need to drive the economy to a $1 trillion GDP,do you know how much inputs are needed in the food and beverages sector. The difference here is that if we ramp up our imports for manufacturing by adding value,the impact will be felt in the economy.

At this point we cannot allow dollar rates to go too low so as to drive up dysfunctional demand that would be good for the economy.....if you produce more you export more!!

Please go through the link below and see how wrong you're

https://www.nairaland.com/8203854/cbn-6.96-billion-current-account/1#131847026

Ikaeniyan0:
Please go through the link below and see how wrong you're

https://www.nairaland.com/8203854/cbn-6.96-billion-current-account/1#131847026

How does that delinquent inference void my candid assertion!!

Lithiumite:
How does that delinquent inference void my candid assertion!!

According to you

[quote author=Lithiumite post=131845232]Not true!! There are other sectors that would eat that differential up

We haven't gotten any where near 50% of our manufacturing capacity and more materials still needs to be imported,the manufacturing space will be expanded

Base on the CBN projection for this year, nothing will be eating up the differential.

Go through the article I shared with you and read

Blazetrailer:
Ouch!!......i know it hurts for one to suddenly realise that he or she is empty headed, on a public platter kike this. Especially when you are limited in readining capacity as seen in your post below.

For knowledge, NNPC imports fuel using a line of credit which is predicated on Nigeria future oil inventory and sales(go and read futures/derivatives market for better uhderstabding). So they dont buy forex or need forex to import. The line of credit limit was about $5.5bn and once they reached that amount the creditors refused to extend the limit hence they cried out that theyvwere owing and ulensss they find a way to pau, they woukd not be able to sustain the supply to the local marlet

Dangote selling everuthing for local consumption to NNPC in naira has little or no effect, especially when no one was buying forex from the Nigerian market to import fuel. Only NNPC was importing and they were using futures on a credit line to import. If Dangote was selking to the market openly and if there were independent marketers alloeed to import as during Jonathans time, maybe it could have an effect

Come back and thank me later in some months for this snall knowledge i have given to you

IGNORAMUS SCRIBBLING GIBERRISH.ODE!

Pls, i want to ask.
What causes this forex rate to go up against naira?
What is this too much of dollars, i always hear?

Image123:
It will not necessarily crash dollar rate but stabilize it over the long term.