₦airaland Forum

DeLaRue:
You abuse and denigrate instead of addressing issues correctly .

I don't know if your '$11 billion' for 2024 is right or wrong, but either way it doesn't conflict with my thesis since my reference point is '...from December to now...' meaning, in the last 3 months.

So, even if your figure for the whole of 2024 is correct, how does that conflict with my own assertion.

Is it not possible that none of your $11 billion figure applies to December 2024 where my reference period started?

Please provide your own data for December 2024 to now, let's see if I am right or wrong.

You should stop arguing. The thing is, Nigeria doesn't have enough forex inflows...because all our export is dependent on oil revenue...which is not enough.

Even at the 4m bpd that your beloved tinubu is promising.

Guy, go and check statistics first before coming here to spew rubbish. A simple check online would have hinted your brain you were about to tell lies on a public forum..... they could not have supplied $11bn in December alone and even in 2025 records shows they have spent nearly $2bn already in pushing forex into the markets in Nigeria......so.what are you on about??

Common use your head jarey!!

DeLaRue:
You abuse and denigrate instead of addressing issues correctly .

I don't know if your '$11 billion' for 2024 is right or wrong, but either way it doesn't conflict with my thesis since my reference point is '...from December to now...' meaning, in the last 3 months.

So, even if your figure for the whole of 2024 is correct, how does that conflict with my own assertion.

Is it not possible that none of your $11 billion figure applies to December 2024 where my reference period started?

Please provide your own data for December 2024 to now, let's see if I am right or wrong.

DeLaRue:
The naira is not even being subsidised now.

Some of this so-called experts don't even know what is going on.

1. During Mr Buhari's regime, the CBN was supplying about 65% of the total dollars sold in Nigeria.

2. As of today, that figure has fallen to around 3%!

3. Since December up to now, the CBN has been stepping in to buy dollars because more dollars have been coming into Nigeria than the market can absorb. If the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400. That would have created a new period of instability. The CBN prefers the naira to gain or lose very slowly. That is what businesses and investors prefer. They don't want drama.

That situation can change but for about 3 months now, the net contribution of the CBN to the forex market is only about 3%.

That is a fantastic development.

The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN.

You must be a dunce, how can you posit an excess dollar into the country is detrimental to the local currency

Do you even pass through school at all, do you understand the basis of demand and supply law
excess dollar inflow into the economy resonates with a favorable balance of trade, ... what records shows Nigeria has favorable balance of trade

How do you posit excess dollar at a time, int'l oil price keeps droppin and our National budget is being run on a deficit

CBN buying up excess dollar ke ... you sure say you go school

Lol.....are you aware that De la rue has been called out for providing false statistics in the comment you are supporting him for with your post below. Check on Internet shows he told blatant lies with the statistics...


Which then questions your own integrity and reasoning capacity too.

Not sure you have any idea about what he wrote but since you all APC e-warriors have been told to support each other here for the stipends to drop, you blindly just re-echoed his lies ans buffoonery too.

Basicend:
Don't mind the mischievous analyst.

They know what they are doing. Majority of them were deriving a lot of profit from naira devaluation.

The current CBN governor is getting it right with mild and accurate intervention. This current stability is a clear and quite a true reflection of the state of the naira.

Rubbish propaganda.

DeLaRue:
The naira is not even being subsidised now.

Some of this so-called experts don't even know what is going on.

1. During Mr Buhari's regime, the CBN was supplying about 65% of the total dollars sold in Nigeria.

2. As of today, that figure has fallen to around 3%!

3. Since December up to now, the CBN has been stepping in to buy dollars because more dollars have been coming into Nigeria than the market can absorb. If the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400. That would have created a new period of instability. The CBN prefers the naira to gain or lose very slowly. That is what businesses and investors prefer. They don't want drama.

That situation can change but for about 3 months now, the net contribution of the CBN to the forex market is only about 3%.

That is a fantastic development.

The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN.

so you are saying the government is market forces they told us will freely determine fx rate,now your government is intervening to put prices at its desired prices by holding the hands of market forces, if this is not voodoo economics then I wonder what it is
It's a case of the more you look the less you ser

Bro.....i wonder too...

The dela rue guy has been spewing gibberish all across topics on Nairaland Ns I have been ignoring.

Not sure he is educated or most probably a dropout with access to cheap phone and MTN data.

donself9:
You must be a dunce, how can you posit an excess dollar into the country is detrimental to the local currency

Do you even pass through school at all, do you understand the basis of demand and supply law
excess dollar inflow into the economy resonates with a favorable balance of trade, ... what records shows Nigeria has favorable balance of trade

How do you posit excess dollar at a time, int'l oil price keeps droppin and our National budget is being run on a deficit

CBN buying up excess dollar ke ... you sure say you go school

Blazetrailer:
... and even in 2025 records shows they have spent nearly $2bn already in pushing forex into the markets in Nigeria......so.what are you on about??

Oh dear.

If the CBN has spent $2 billion in 2025 alone as you claimed, that still doesn't conflict with my assertion that the CBN's net contribution to the forex market so far this year has been just 3%.

You clearly are not aware that the CBN sells and also buys dollars. You people only focus on the selling part.

In my previous posts, I made it clear that the CBN has been buying the excess dollars coming in.

And that is why I used the words 'net contribution' , meaning the difference between the amount of dollars the CBN has sold since December to now and the amount it has bought.

So even if your $2 billion figure of dollar sale is correct, it means the CBN has also bought $1.94 billion during the same period. That is why I said its net contribution to the market is about 3%, which has a negligible impact on Nigeria's Reserve balance.

I have been consistently correct.

You just need to calm down and read to understand things.

Given where we were coming from, the CBN is doing a great job. There is no perfection anywhere, except may be, you are Switzerland.

Ask Turkey.

They were in a similar situation as Nigeria found itself, but they went through 4 different central bank Governors in 2 years. Yet the Turkisk lira has not recovered, and their economy is still in a mess.

These things are not easy.

Lol....Bros rest....you don't have the faintest idea about what you are writing about. Its above you thinking capacity.

I don't even bother to read your gibberish. I dont indulge people who falsify data to make their points.

I am very big on integrity

DeLaRue:
Oh dear.

If the CBN has spent $2 billion in 2025 alone as you claimed, that still doesn't conflict with my assertion that the CBN's net contribution to the forex market so fat this year has been just 3%.

You clearly are not aware that the CBN sells and also buys dollars. You people only focus on the selling part.

In my previous posts, I made it clear that the CBN has been buying the excess dollars coming in.

And that is why I used the words 'net contribution' , meaning the difference between the amount of dollars the CBN has sold since December to now and the amount it has bought.

So even if your $2 billion figure of dollar sale is correct, it means the CBN has also bought $1.94 billion during the same period. That is why I said its net contribution to the market is about 3%, which has a negligible impact on Nigeria's Reserve balance.

I have been consistently correct.

You just need to calm down and read to understand things.

Untill the Naira gets below 700 to a dollar we are still in the eye of the storm.

Blazetrailer:
Bro.....i wonder too...

The dela rue guy has been spewing gibberish all across topics on Nairaland Ns I have been ignoring.

Not sure he is educated or most probably a dropout with access to cheap phone and MTN data.

Maybe he pass through school, buh someone that wrote eco 101 - 401 can never posit Nigeria has "excess" dollar inflow.. how??
Even if he was employed online to spew nonsense cant he ask his employer for a beta nonsense, person eye dey see for NL

jaxxy:
Untill the Naira gets below 700 to a dollar we are still in the eye of the storm.

There is no magic for the naira to go to 700 or any specific figure.

The CBN can't do it on a whim, neither can the President. Unless, you're North Korea, Cuba, or Venezuela. Or, you're Saudi Arabia, Kuwait, Qatar etc who have endless amount of money to fix the value of their currency and keep it there.

There is a complex range of factors that determine the value of any currency.

First, you must have credible economic underpinnings, including a credible monetary policy. The 'markets' (currency market, mostly in London) must be convinced.

Nigeria has not had either of those for about 20 years.

The naira is becoming stable because the markets now have some belief that Nigeria is finally taking 'some' right decisions.

I laugh when people think there is a politician somewhere that can magically make naira N1000, or 700. That's fanciful. It is not going to happen until we are earning far more dollars than we are spending.

So, Nigerians and the government need to get to work. There is no free lunch anywhere.

Currency traders in London can destroy the value of the naira if a new President comes in in 2027 and change some of the new and unpopular policies of the current government.

Any politician can promise what they like during campaign, but trust me no new President can bring back fuel subsidy and the profligacy of the past.

A new President that announces such reversal will wake up the next morning to see that naira has crashed massively.

Some of my friends in the City (London) tell me they are waiting

It is going to be - do anyhow, see anyhow.

You might say, why should the City of London currency traders have the ability to influence the value of the naira.

Well, the City (as the financial quarter of London is called) is the largest currency market in the world. They work in milliseconds and on a 24 hour basis.

London is also where most government borrowings in the world are arranged.

They know Nigeria no get money. We dey borrow, borrow. On top of that, the little we have, is mostly stolen, eg through fraudulent fuel subsidy.

So, if we do anyhow, na just to press a few computer buttons and within a few hours, they can crash the naira.

Abi, we get money like Saudi or Kuwait?

Ehen na.

If na borrow borrow you they do since over 30 years, and you know still balance, will your lenders not warn you to start taking the right decisions or else?

Nigeria and Nigerians need to get working and stop expecting dollar manna from heaven. Or thinking PDP, FQP, ZZZ party or whatever will have a massively different set of policies.

Some of the policies Nigerian governments will have to implement over the next 10 years will be dictated to our government from oyinbo man offices in Washington, New York, and London.

Lenders must dictate na, so that they can get their money back. No be so?

helinues:
Toh

Na only Nigeria opposition dey think say the dollar naira rate must return back to 2015.

Reasonable number of them did not attend the economics class in secondary school

Very illiterate set of people

oga, what was APC complaining about in 2015?

are you saying those in APC who said dollar was too high in 2015 that you supported didnt attend economics class in secondary school?

DeLaRue:
The naira is not even being subsidised now.

Some of this so-called experts don't even know what is going on.

1. During Mr Buhari's regime, the CBN was supplying about 65% of the total dollars sold in Nigeria.

2. As of today, that figure has fallen to around 3%!

3. Since December up to now, the CBN has been stepping in to buy dollars because more dollars have been coming into Nigeria than the market can absorb. If the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400. That would have created a new period of instability. The CBN prefers the naira to gain or lose very slowly. That is what businesses and investors prefer. They don't want drama.

That situation can change but for about 3 months now, the net contribution of the CBN to the forex market is only about 3%.

That is a fantastic development.

The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN.

if you claim that the CBN is buying excess dollars, how much is this "excess dollars"?

where is the "excess dollars" coming from?

if you say that "The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN", how come the same you is saying that "if the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400"?

how can the naira be operating on its own based on market forces but the CBN is buying "excess dollars" so that according to you the naira does not appreciate too fast?

nairalanda1:
PDP polices of massive subsides on everything is why we did not have light and why we had no working refineries , instead we got worsening refineries instead.

And your atiku came and told us that we should bring back subsides. On top of the debt buhari left for us?

Apc is shite, but pdp is responsible for a lot of the economic mess we have now.

No, I am not a tinubu supporter. I call things as they are.

Please are you talking about PDP capitalists who deregulated the telecom sector and privatised the petrochemicals division of NNPC and Nigeria Air through Virgin Atlantic, thereby removing the subsidies for the sectors

Can you please list anything similar from APC pseudo progressive socialists. Thanks

Blazetrailer:
Lol.....are you aware that De la rue has been called out for providing false statistics in the comment you are supporting him for with your post below. Check on Internet shows he told blatant lies with the statistics...


Which then questions your own integrity and reasoning capacity too.

Not sure you have any idea about what he wrote but since you all APC e-warriors have been told to support each other here for the stipends to drop, you blindly just re-echoed his lies ans buffoonery too.

Bro, I didn't even check the guy's name of veracity of his view.

But my concern is that these so called analysts should leave the govt and let them do their job.

If they (govt) left the Naira at N3,500 per dollar, they will come out, blast and complain. Now govt is trying to instill some control into its value, yet they will come out and complain.

Lots of businesses are beginning to make some little profits again due to the FX stability. It's that not better for the citizens generally?

lexy2014:
oga, what was APC complaining about in 2015?

are you saying those in APC who said dollar was too high in 2015 that you supported didnt attend economics class in secondary school?

Is that all?

anonimi:
Please are you talking about PDP capitalists who deregulated the telecom sector and privatised the petrochemicals division of NNPC and Nigeria Air through Virgin Atlantic, thereby removing the subsidies for the sectors

Can you please list anything similar from APC pseudo progressive socialists. Thanks

PDP also maintained subsides and price controls on power, and also the refineries depreiciated under their watch thanks to their maintaining subsides on petrol.

And they didn't diversify the economy

Negates whatever good they did. Ye cannot have partial capitalism.

helinues:
Is that all?

according to you

helinues:
Toh

Na only Nigeria opposition dey think say the dollar naira rate must return back to 2015.

Reasonable number of them did not attend the economics class in secondary school

Very illiterate set of people

oga, what was APC complaining about in 2015?

are you saying those in APC who said dollar was too high in 2015 that you supported didnt attend economics class in secondary school?

lexy2014:
according to you


oga, what was APC complaining about in 2015?

are you saying those in APC who said dollar was too high in 2015 that you supported didnt attend economics class in secondary school?

Is that all?

lexy2014:
if you claim that the CBN is buying excess dollars, how much is this "excess dollars"?

where is the "excess dollars" coming from?

if you say that "The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN", how come the same you is saying that "if the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400"?

A lot of 'foreign investment' has been flocking into Nigerian Stocks, treasury etc. That is where the 'excess' dollars is coming from.

Have you noticed that share prices have been rising strongly on the Nigerian Stock Exchange. That's because there is a rush of foreign money buying up these shares.

That's the positive side.

The negative side is that many of the foreign investors have already made 20% or more profit on the shares they bought, but that profit increases even faster the more the naira gains value.

The fear of the CBN is that if the naira gains value too fast, for instance it drops to 1,380 or 1,400 too fast, many of the foreign investor may sell up because of their massive profit and move their money out of the country too soon.

Imagine you're an investment company in the UK, and in a typical year, you probably make 10 - 15% return.

You see an opportunity in a faster growing economy (Nigeria) where over the course of a year, you can make a 25 - 30% return if you buy Nigerian shares. And so, you invest in Nigerian shares. But within 3 months, you already have 20% profit on the shares (somethingyou can only dream of in the UK). Then the naira gains value sharply ( to about N1,350) - this naira gain will suddenly increase your profit to may 40%. In that scenario, you'll be tempted to sell those shares, take your 40% profit, and withdraw your dollars back to your country laughing all the way to the bank.

If most of the foreign investors react in a similar way, and bank their profits, that means dollar outflow will spike massively. The CBN will have to provide all that dollar immediately, thus putting fresh pressure on the naira.

In order to avoid such instability, the CBN does step into the market from time to time to buy excess dollars in order to ensure that the naira doesn't gain value too quickly.

It is like any market. For example, if there are too many tomatoes (Dollars) in a market that buyers can buy, the price of tomatoes will fall drastically. However if a big buyer (CBN) comes in and buys up most of the excess tomatoes, the price of tomatoes will rise and stabilise close to its usual price.

So, while the ordinary man on the street want naira to gain fast, CBN prefers a slow and steady process. Buying excess dollars is a way of ensuring the naira doesn't gain value too fast.


It is a complex subject, but I hope my explanation helps a little bit.

DeLaRue:
A lot of 'foreign investment' has been flocking into Nigerian Stocks, treasury etc. That is where the 'excess' dollars is coming from.

Have you noticed that share prices have been rising strongly on the Nigerian Stock Exchange. That's because there is a rush of foreign money buying up these shares.

That's the positive side.

The negative side is that many of the foreign investors have already made 20% or more profit on the shares they bought, but that profit increases even faster the more the naira gains value.

The fear of the CBN is that if the naira gains value too fast, for instance it drops to 1,380 or 1,400 too fast, many of the foreign investor may sell up because of their massive profit and move their money out of the country too soon.

Imagine you're an investment company in the UK, and in a typical year, you probably make 10 - 15% return.

You see an opportunity in a faster growing economy (Nigeria) where over the course of a year, you can make a 25 - 30% return if you buy Nigerian shares. And so, you invest in Nigerian shares. But within 3 months, you already have 20% profit on the shares (somethingyou can only dream of in the UK). Then the naira gains value sharply ( to about N1,350) - this naira gain will suddenly increase your profit to may 40%. In that scenario, you'll be tempted to sell those shares, take your 40% profit, and withdraw your dollars back to your country laughing all the way to the bank.

If most of the foreign investors react in a similar way, and bank their profits, that mean dollar outflow will spike massively. The CBN will have to provide all that dollar immediately, thus putting fresh pressure on the naira.

In order to avoid such instability, the CBN does step into the market to buy excess dollars in order to ensure that the naira doesn't gain value too quickly and thus increasing foreign investors profits too much, so as not to encourage them to sell their investments and bank their profits.

So, while the ordinary man on the street want naira to gain fast, CBN prefers a slow and steady process.

It is a complex thing, but I hope my explanation helps a little but.

I didnt ask you for positive or negative side or all the grammar you wrote.

1. where is the "excess dollars" coming from?

which treasury are you referring to?

how is dollars entering nigeria through nigerian stocks?

how much of nigerian stocks have been purchased by this "excess dollars"?

2. if you say that "The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN", how come the same you is saying that "if the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400"?

mrvitalis:
Exactly ooh tell them... GDP grew by 3.5 % in naira
Though in dollar it dropped by 50% but that's not important

What's is important is Tinubu is in power, Yorubas are in country and igbos are wailing

interesting how you think. i don't do tribal foolishness.

lexy2014:
I didnt ask you for positive or negative side or all the grammar you wrote.

1. where is the "excess dollars" coming from?

which treasury are you referring to?

how is dollars entering nigeria through nigerian stocks?

how much of nigerian stocks have been purchased by this "excess dollars"?

2. if you say that "The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN", how come the same you is saying that "if the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400"?

So you didn't see where I said the excess dollars were coming from a rush of foreign buyers into Nigerian Stocks and investment instruments.

Some of you are just hapless.

nairalanda1:
PDP also maintained subsides and price controls on power, and also the refineries depreiciated under their watch thanks to their maintaining subsides on petrol.

And they didn't diversify the economy

Negates whatever good they did. Ye cannot have partial capitalism.

If you are genuinely for capitalism, why would you diss those who have made strides towards your goal for those who have not, seeing that we have two broad ideological options in both parties? Have you heard about half bread is better than none?

PDP sold refineries under Obasanjo that was reversed by YarÁdua, and Jonathan's efforts to sell them again was frustrated.

If PDP didn't diversify the economy, then where is all the ICT gains coming from, if not from the deregulation of the telecom sector more than two decades ago

anonimi:
If you are genuinely for capitalism, why would you diss those who have made strides towards your goal for those who have not, seeing that we have two broad ideological options in both parties? Have you heard about half bread is better than none?

PDP sold refineries under Obasanjo that was reversed by YarÁdua, and Jonathan's efforts to sell them again was frustrated.

If PDP didn't diversify the economy, then where is all the ICT gains coming from, if not from the deregulation of the telecom sector more than two decades ago

So, you admit that Yaradua reversed the sales of refineries.

GEJ also brought in the subsidy regimen on power . Imagine privatising the sector, and still keeping price controls.

The problem really is Nigerians. They make up the APC and the PDP, and they all want petrol and power to be dirt cheap. That's unrealistic.

And that's why your campaigning for PDP to come back does not make any sense, as this APC government does not make sense.

We need a government that would be realistic enough to remove subsides and stop price controls, and diversify this economy. Not the same old quasi socialist rubbish we have been seeing since independence.

LIke now, Atiku and Obi are saying we should never have removed subsidy. Tinubu is keeping subsidy on power and still slyly subsidizing the naira. And you expect economic changes. PLus telecoms, the government forces them to set prices.

Sigh.

Image123:
interesting how you think. i don't do tribal foolishness.

Lmaoo😂😂😂😂😂😂 I'm the richest man in Nigeria... Stats are not important to us

mrvitalis:
Lmaoo😂😂😂😂😂😂 I'm the richest man in Nigeria... Stats are not important to us

Good for you, so stop engaging me with your tribal folly next time.

nairalanda1:
So, you admit that Yaradua reversed the sales of refineries.

GEJ also brought in the subsidy regimen on power . Imagine privatising the sector, and still keeping price controls.

The problem really is Nigerians. They make up the APC and the PDP, and they all want petrol and power to be dirt cheap. That's unrealistic.

And that's why your campaigning for PDP to come back does not make any sense, as this APC government does not make sense.

We need a government that would be realistic enough to remove subsides and stop price controls, and diversify this economy. Not the same old quasi socialist rubbish we have been seeing since independence.

LIke now, Atiku and Obi are saying we should never have removed subsidy. Tinubu is keeping subsidy on power and still slyly subsidizing the naira. And you expect economic changes. PLus telecoms, the government forces them to set prices.

Sigh.

So how much efforts are you putting into a VIABLE party to remove subsidies and stop price controls, since sighing won't magically make the government do what you want at the federal level, which may be frustrated by the 36 states and 774 LGAs?

anonimi:
So how much efforts are you putting into a VIABLE party to remove subsidies and stop price controls, since sighing won't magically make the government do what you want at the federal level, which may be frustrated by the 36 states and 774 LGAs?

And what are you doing? Supporting a party that is doing the same thing as APC.?

You guys, stop following politicans, and stop demanding cake when there is no cake.

nairalanda1:
And what are you doing? Supporting a party that is doing the same thing as APC.?

You guys, stop following politicans, and stop demanding cake when there is no cake.

Why have have failed to counter that PDP is more capitalist than APC is?
If you don't follow politicians based on their ideological record, how will that help the country get to where you want

helinues:
Toh

Na only Nigeria opposition dey think say the dollar naira rate must return back to 2015.

Reasonable number of them did not attend the economics class in secondary school

Very illiterate set of people

Tinibu is so smart he took dollar from 450 to 1500 in less than 1 year of taking over power