₦airaland Forum

Lol...Biodun, ani go back to school seh.....or stop posting on topics beyond your reasoning capacity.

Biodun556:
Why were some of you shouting that Tinubu was depleting foreign reserve when dollar went back to 800 naira from 1800 naira sometimes ago?

JAMO84:
Kill fuel subsidy corruption
Kill forex corruption
Provide student loan
Provide consumer credit scheme
Give local government Autonomy
Improve power supply
Improve security in the north
Stop ASUU strikes....

Even if Bola Tinubu doesn't get a second term. Alhamdulillah. I will never, ever regret supporting and voting for him.

Thank You Asiwaju Akanbi. Omo olodo ide. Omo Habiba. Baba Habiba. Oko yeye Asiwaju Oluremi.
Mo modupe. Oodoju timi.

How did he kill subsidy corruption?
How did he kill forex corruption?

Irony1:
How did he kill subsidy corruption?
How did he kill forex corruption?

Speaking of forex corruption, I think he meant people no longer buy FX from Banks at 450 for things like university enrollments abroad, only to sell it at 750 at the parallel market. This was mostly prevalent in 2022, although this unification of the FX rates came at a cost.

GeneralDae:
Learn, read, una nor go gree. Na to just type rubbish una sabi. Research what I wrote there and if you don’t know something, you learn.

I asked you a simple question you dey rigmarole.

Stupid man, keep supporting evil, one day evil will caught up with u. During the time of jonathan nigerian as country is making progress, as of dat period nigerian is d fastest growing economy in africa. As of dat period no citiziens of nigeria is thinking of relocating to abroad because d economy of nigerian is so strong. Mininum wage of #18k dat period can feed a family of five for a month, mininum wage of #70k in tinubu govt cant feed a family of 2 in a month. Very soon the evil u support will caught up with u. [quote author=SIRAO post=134135439][/quote]

OPEC expressed optimism about Nigeria’s oil sector, pointing to the Dangote Refinery as a potential game-changer for the industry.

This will contribute to increase in the FX reserve and maybe some naira stability (as CBN continues to fund the BDCs to achieve some balance). This will also attract some sorts of investment in Nigeria in the Oil & Gas sector and government bonds.

“The oil sector remains central to the economy, and the Dangote Refinery reaching full production capacity should help stabilize the petroleum product supply and possibly lower petrol prices,” the report stated.

Let's not deceive ourselves with the hope of lower petrol prices.

DOES THAT MEAN OUR FUEL PRICE WILL DROP? 😀

GeneralDae:
Speaking of forex corruption, I think he meant people no longer buy FX from Banks at 450 for things like university enrollments abroad, only to sell it at 750 at the parallel market. This was mostly prevalent in 2022, although this unification of the FX rates came at a cost.

No one has ever bought dollars from Banks Oga, Form A is done and the rate is given from CBN. where the FX corruption came from is BTA and PTA, even at that the CBN recovered most of the funds. Please stop misinforming the people.
The unification really did not end it, because they are still doing it right now as the margin between the official and parallel market has started widening again.

This is only the declared and recorded production. I bet you we produced a lot more.

Irony1:
No one has ever bought dollars from Banks Oga, Form A is done and the rate is given from CBN. where the FX corruption came from is BTA and PTA, even at that the CBN recovered most of the funds. Please stop misinforming the people.
The unification really did not end it, because they are still doing it right now as the margin between the official and parallel market has started widening again.

Whether from CBN or Banks, it came from the official market. That it was from CBN even made it worse.

What proof do you have that CBN recovered most of that? It just made liquidity in the parallel market stronger and where Airlines and big businesses wanted to go through official channels, they struggled because they couldn’t get FX there easily.

The margin between the official and parallel market is not more than 50 naira currently, that’s not even up to 5% compared to the 40-50% margin of 2022.

Ihengwu:
This is only the declared and recorded production. I bet you we produced a lot more.

True. They are likely hiding some as condensates to prevent issues with OPEC for going past the quarter.

GeneralDae:
Whether from CBN or Banks, it came from the official market. That it was from CBN even made it worse.

What proof do you have that CBN recovered most of that? It just made liquidity in the parallel market stronger and where Airlines and big businesses wanted to go through official channels, they struggled because they couldn’t get FX there easily.

The margin between the official and parallel market is not more than 50 naira currently, that’s not even up to 5% compared to the 40-50% margin of 2022.

Ask people in the banking industry from 2022 ending, how CBN was recovering funds from those who took PTA illegally. the margin is more than 5% at the moment check the official NAFEM rate and parallet market rate there is almost 500naira difference which is more than 5%.
Please you have a moral responsibility to not misinform people.

Irony1:
Ask people in the banking industry from 2022 ending, how CBN was recovering funds from those who took PTA illegally. the margin is more than 5% at the moment check the official NAFEM rate and parallet market rate there is almost 500naira difference which is more than 5%.
Please you have a moral responsibility to not misinform people.

What are you saying? The official market is currently at 1510, the parallel market is at 1560. That’s a difference of 50 naira and not up to 4%. Where did you get 500 naira difference from?

Irony1:
Ask people in the banking industry from 2022 ending, how CBN was recovering funds from those who took PTA illegally. the margin is more than 5% at the moment check the official NAFEM rate and parallet market rate there is almost 500naira difference which is more than 5%.
Please you have a moral responsibility to not misinform people.

This was closing rate of official and parallel market yesterday. The official rate at the top at 1515, parallel market just under it at 1560. That’s just 45 naira difference, so where are you getting your 500 naira difference from?

GeneralDae:
This was closing rate of official and parallel market yesterday. The official rate at the top at 1515, parallel market just under it at 1560. That’s just 45 naira difference, so where are you getting your 500 naira difference from?

Check today's trading and not the NAFEM RATE bro. I may have been wrong on this, but last week when parallel was at 1560. NAFEM was at 1485. the difference then was more than 5%

Good one

Ok