₦airaland Forum

Singapore1:
I am against Putin, but I think he has performed beyond expectations given the sanctions, especially when you compare the USD to other currencies. Almost all currencies are trading as if they are equally sanctioned, including the Japanese Yen and CAD. Only the GBP and maybe the EUR have performed relatively well since the war started at the beginning of 2022.

LordAdam16:
Don't sweat it.
Ibime has a hard on for a phantom Russian economic collapse since the war started.

This latest RUB drop was due to very recent sanctions.
The initial response to new rounds of biting sanctions is always this rough and then things stabilize after a while.
Surprised he drew attention to this with the "exhaustion" angle.
He is easily one of the most qualified to speak on this topic on NL and it'll be a shame if he missed the obvi backdrop.

-Lord

DissTroy:
Update:

2025 State Budgets

1. Lagos - #3 trillion
2. Delta - #976 billion
3. Akwa Ibom - #955 billion



4. Bayelsa - #689 billion
5. Katsina - #682 billion
6. Oyo - #678 billion
7. Anambra - #606 billion



The federal government budget at #9 trillion is only 3 times the budget Sanwoolu is proposing for Lagos.

Do these budgets reflect the developments in each of the states?


Ask questions. Or let's just focus on attacking the Centre while State Governors continue to plunder our wealth.

“Wasteful spendings” pic.twitter.com/x0kdmpLoIg

— Mal. Imran U. Wakili (PULLO) 👑 #iSTANDWITHELRUFAI (@IU_Wakilii) November 26, 2024

Bombblacks:
Russian Central Bank Halts Currency Buying Until 2025.


https://www.themoscowtimes.com/2024/11/27/russian-central-bank-halts-currency-buying-until-2025-as-ruble-slides-a87147

Bombblacks:
Okpa what did I tell you few days ago of those countries putting out neutral statements. This is the France and Italy you said will arrest Israel prime minister.

BlueRayDick:
Yeah, I noticed the different grades of petrol abroad in one video I watched recently.

The bitter truth is that if Dangote goes the way of marketing his PMS as " High Quality PMS" with its price higher than NNPC's blended PMS, Dangote may be out of business in no time.

This is because the average poor Nigerian consumer will jejely buy NNPC's blended PMS and give Dangote's the middle finger.

“Wasteful spendings” pic.twitter.com/x0kdmpLoIg

— Mal. Imran U. Wakili (PULLO) 👑 #iSTANDWITHELRUFAI (@IU_Wakilii) November 26, 2024

raumdeuter:
These guys were trying to get Micah Richard's fired

https://www.instagram.com/reel/DC2farWxlM_/?igsh=MWM5Z3YwY2luY2tyMA==

Roland17:
Reno is a sanctimonious, divisive and disgusting bigot. It's a shame he is allowed so much space/ opportunity to spread hate amongst Nigerians. His narratives, thoughts and opinions are always wrapped in bigotry.

Education doesn't do much when it comes to common sense.

Ibime:
Nope, last time dollar briefly breached 100 RUB (hitting 104), there was an instant reaction within 24 hours with Putin ordering Elvira to tighten capital controls and stop all exchange of RUB into foreign currency and increase interest rates to 19%

Now dollar has breached 100 RUB for 4 days steady and accelerated to 113 RUB, interest rate is already at 21% (Banana Republic territory), Capital controls are already firmly in place to stop exchange of RUB, the only mechanism left is to buy rubles with their reserves which Elvira has been doing for the last 10 months to fight against that psychological mark of 100 RUB to $. For them to allow it go 4 days and breach 110 RUB means they are tired of defending, and are allowing devaluation. They will also need devaluation to keep up their military spending and payment of soldiers (which is in Rubles)

Of course they will continue lying that inflation is only 9% while their currency has devalued 50% against Chinese Yuan (their major supplier) and while their interest rate is 21%, showing the true scale of their problem despite their lamba.

Ibime:
Na 2021 and early 2022 wey dollar sink everybody because US stockmarket was going down due to high interest rates. The stockmarket is so highly overcapitalised (tens of trillions in marketcap) that just the flight from stockmarket into dollar gives dollar too much weight against other currencies. Typically you would sell shares and hold T-bills, T-bonds or dollar. That's tens of trillions going into dollar. So when stockmarket goes down, dollar goes up. The reverse has been the case since mid 2022, stockmarket has been going up and all the major currencies have held their own against dollar since then. Stockmarket decline is the major factor that drove dollar growth in 2021 and early 2022

However since mid 2022 when stockmarket started rising again, that has not been the case. Yen and CAD have held parity since mid 2022, while Ruble has slid from 55 to 113. So no, Putin is not doing well. He sent a fortune in reserves fighting against 100 Rub to $ for the last 10 months only to fall 50% while Yen and CAD have more or less held parity from then. Illustrated below

LordAdam16:
Don't sweat it.
Ibime has a hard on for a phantom Russian economic collapse since the war started.

This latest RUB drop was due to very recent sanctions.
The initial response to new rounds of biting sanctions is always this rough and then things stabilize after a while.
Surprised he drew attention to this with the "exhaustion" angle.
He is easily one of the most qualified to speak on this topic on NL and it'll be a shame if he missed the obvi backdrop.

-Lord

DissTroy:
Update:

2025 State Budgets

1. Lagos - #3 trillion
2. Delta - #976 billion
3. Akwa Ibom - #955 billion



4. Bayelsa - #689 billion
5. Katsina - #682 billion
6. Oyo - #678 billion
7. Anambra - #606 billion



The federal government budget at #9 trillion is only 3 times the budget Sanwoolu is proposing for Lagos.

Do these budgets reflect the developments in each of the states?


Ask questions. Or let's just focus on attacking the Centre while State Governors continue to plunder our wealth.

LordAdam16:
Russia had been aggressively "defending" the RUB all the way up from 60 to 100.
That occurred over a year.
The average for this year is ~90.
Letting it dip to 110 after a fresh round of sanctions with a ceasefire almost in the bag is not particularly scandalous nor noteworthy.

No one in Russia is pretending that the sanctions haven't been a PITA.
But all insinuations of an impending collapse is wildly exaggerated.
Russia's manpower shortage exceeds 4 million.
Like the economy is in danger of overheating because the unemployment rate is too low.
That's been a force multiplier on the inflation you rage about.

I don't know how you look at that. Look at the scale of the brutal sanctions levied on them. China's dilly-dallying (We all know if the US was fighting a war on its border, G7 will be all in with support in all forms without reservations). And somehow think there's cause to mock Elvira and Putin.
Please name the Western countries that would do better in Russia's shoes besides the US? Heck, the last 2 years has been rough for major industrialized countries not named the US. And they've not been pilloried by the most potent economic offensive since the fall of the Berlin War. Germany is chewing glass shards. China has stuck up a nasogastric tube to administer stimulus.

After this war ends next year, State, CFR, Brookings and the gang will have a come to Jesus moment about the efficacy of a severe sanctions regime with the goal of a wholesale rewrite of the rulebook for China.
Make no mistake, the West fired an economic nuke on Russia and did Stinger-esque damage.

-Lord

chrisooblog:
I still think Dangote will be in the drivers seat if he plays his cards right.

How much petrol does NNPC have to meet the demands of Nigeria? Even at full capacity NNPC's old refineries put together couldn't meet up to 30% of national demand so Alhaji Putin still has production capacity on his side to match their shenanigan. I'm guessing the reduction of the lifting cost to 970 was to counter the impending 'reactivation' of the PH refinery.

Some marketers are already complaining that the refurbished refinery's cost is higher by about N75.

My own is let the Nigerian consumer sha benefit from all this rogbodiyan.

Singapore1:
That is why I emphasized on the sanctions. Contrary to what many belief, there isn’t a single country that can withstand sanctions imposed by the West. the fact that we are comparing them to non sanction countries says a lot

DissTroy:
A desert Katsina with almost no IGR and where the only viable prospects are Buhari's 150 cows and the only positive development of importance in years was Buhari's Daura helipad budgeting more than Oyo and Anambra; budgeting more than Edo State by far. Yet we aren't asking questions.

DissTroy:
Update:

2025 State Budgets

1. Lagos - #3 trillion

2. Delta - #976 billion

3. Enugu - #971 bilion https://www.nairaland.com/8278586/governor-mbah-presents-record-971 He's budgeting about #850 billion for capital projects. The billions for 2024 gone with little to show. Enugu with about 140% of Anambra's budget. Are you asking questions, or state govenors don't deserve the stick too because they'd allegedly kill you for talking?

4. Akwa Ibom - #955 billion



5. Bayelsa - #689 billion
6. Katsina - #682 billion
7. Oyo - #678 billion
8. Anambra - #606 billion

DissTroy:
Update:

2025 State Budgets

1. Lagos - #3 trillion

2. Delta - #976 billion

3. Enugu - #971 bilion https://www.nairaland.com/8278586/governor-mbah-presents-record-971 He's budgeting about #850 billion for capital projects. The billions for 2024 gone with little to show. Enugu with about 140% of Anambra's budget. Are you asking questions, or state govenors don't deserve the stick too because they'd allegedly kill you for talking?

4. Akwa Ibom - #955 billion



5. Bayelsa - #689 billion
6. Katsina - #682 billion
7. Oyo - #678 billion
8. Anambra - #606 billion

Singapore1:
he needs to be objective in this case

Ibime:
Enugu about to enter generational debt.

Wey Abia own, abi Otti done calm down?

Ibime:
Na 2021 and early 2022 wey dollar sink everybody because US stockmarket was going down due to high interest rates. The stockmarket is so highly overcapitalised (tens of trillions in marketcap) that just the flight from stockmarket into dollar gives dollar too much weight against other currencies. Typically you would sell shares and hold T-bills, T-bonds or dollar. That's tens of trillions going into dollar. So when stockmarket goes down, dollar goes up. The reverse has been the case since mid 2022, stockmarket has been going up and all the major currencies have held their own against dollar since then. Stockmarket decline is the major factor that drove dollar growth in 2021 and early 2022

However since mid 2022 when stockmarket started rising again, that has not been the case. Yen and CAD have held parity since mid 2022, while Ruble has slid from 55 to 113. So no, Putin is not doing well. He sent a fortune in reserves fighting against 100 Rub to $ for the last 10 months only to fall 50% while Yen and CAD have more or less held parity from then. Illustrated below

Ibime:
Oga 60 to 113 is a major drop for any 1st or 2nd world economy. That's nearly 100%. We do not expect Naija levels of drop of 300% but when your purchasing power is cut nearly 100% to the outside world, the pinch will be heavy. In any democracy or first world society, this is a catastrophe that would have led to revolt except in a dictatorship where everything is controlled.

OkpaNsukkaisBae:
Mr Z is predictable. Even an entitled Nigerian girlfriend does not behave in this manner.
Go to Poland, Germany, you have not less than 1m Ukrainian refugees in each country, they're being fed with tax payers money.
France, UK, Germany all are training Ukrainian soldiers in their country. That Kyiv is still hanging on is because of military aid from Washington.
The word "Independent" & Ukraine should not be in the same sentence.

OasisX:



Governor Umaru Bago has approved a proposed budget of N1.20 trillion for the year 2025.

During the Executive Council meeting held by the Niger State Government on November 26, 2024, a draft budget estimate of N1.20 trillion for the 2025 fiscal year was put forward for Council approval.

The Commissioner of Planning, Mustapha Ndajiwo updated the Council, stating that the budget estimate consists of N188.42 billion, which accounts for 15.68% of recurrent expenditure, alongside N1.01 trillion, representing 84.34% of capital expenditure. He noted that when this estimate is compared to the approved budget for 2024, it indicates a significant increase of 32.94%.

Cc DissTroy