₦airaland Forum

Mpeace:
Beta glass, slow and steady movement. Now N486

Up by N37.15

mikeapollo:
My friend, I am not in support of the reckless devaluation. Try and read from the beginning to understand the discussions better.
My point is that is it would better to ban importation of some non-essential items to reduce dollar demand, instead of devaluing the naira sharply the way it was done.
Some people were spreading some fantasy ideas about devaluation and subsidizing the dollar, and I made them understand that another reason the govt did that reckless and irresponsible devaluation was for them to get more naira revenue (from exports), partly on the budget (and possibly to loot in corrupt deals e.g. the opaque Lagos-Calabar road contract), even though we are not feeling any tangible benefits from the increased revenue in the hands of govt.
So try and get the genesis

mikeapollo:
My friend, I am not in support of the reckless devaluation. Try and read from the beginning to understand the discussions better.
My point is that is it would better to ban importation of some non-essential items to reduce dollar demand, instead of devaluing the naira sharply the way it was done.
Some people were spreading some fantasy ideas about devaluation and subsidizing the dollar, and I made them understand that another reason the govt did that reckless and irresponsible devaluation was for them to get more naira revenue (from exports), partly on the budget (and possibly to loot in corrupt deals e.g. the opaque Lagos-Calabar road contract), even though we are not feeling any tangible benefits from the increased revenue in the hands of govt.
So try and get the genesis

megawealth01:
We are gladly watching events as they unfold

Ladygracy:
Do you think this is a wise time to buy it?

Agbalowomeri:
And you didn't know that banning was done during Buhari regime? It didn't work

sterlingD:
https://doclib.ngxgroup.com/Financial_NewsDocs/44899_INTERNATIONAL_ENERGY_INSURANCE_PLC-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_AUGUST_2025.pdf

INTERNATIONAL ENERGY INSURANCE PLC: NOTICE OF EMERGENCY BOARD MEETING
This is to notify Nigerian Exchange Limited (NGX) and the investing public that International Energy Insurance Plc (the Company) is proposing an emergency Board meeting for 28th August, 2025, at 12:00 noon prompt via Microsoft Teams, with the venue recognised as Plot 13/14 Ligali Ayorinde Street, Victoria Island Lagos, to consider a proposal for Loan to Equity Conversion and share reconstruction.

Source:https://ngxgroup.com/exchange/data/corporate-disclosures/

Itzlinda:
You are right my brother, very right. The problem is corruption is norm in Nigeria. I have worked in two government agencies and I can confidently tell you everyone is corrupt in Nigeria. From the CEO of the organisation receiving kick back to the contractor and government supervisors conniving to cut corners and receive their part. I have only met few public servants that are upright, they also do the chopping but atleast they are not greedy and have people at heart. That's why I just gave up on this country.

Despite the hard stance of Buhari against corrupt people, corruption still went on unabated under him.

Tinubu is not even pretending to fight corruption..

crownprince2017:
But you bought oando na..

Abi agba don they decieve me?

sterlingD:
https://doclib.ngxgroup.com/Financial_NewsDocs/44899_INTERNATIONAL_ENERGY_INSURANCE_PLC-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_AUGUST_2025.pdf

INTERNATIONAL ENERGY INSURANCE PLC: NOTICE OF EMERGENCY BOARD MEETING
This is to notify Nigerian Exchange Limited (NGX) and the investing public that International Energy Insurance Plc (the Company) is proposing an emergency Board meeting for 28th August, 2025, at 12:00 noon prompt via Microsoft Teams, with the venue recognised as Plot 13/14 Ligali Ayorinde Street, Victoria Island Lagos, to consider a proposal for Loan to Equity Conversion and share reconstruction.

Source:https://ngxgroup.com/exchange/data/corporate-disclosures/

mikeapollo:
How do you mean it didn't work?
And which one is ''working'' now under Tinubu?

Buhari's policy of reducing imports is still better, relatively speaking. If there were problems, we should try and fix those problems because countries like China, India, the Asian tigers had to reduce importation to incentivize their local industries to grow and develop.
Compare the relative economic condition and prices of goods under Buhari, and situation after the naira was devalued sharply by Tinubu.

Agbalowomeri:
I am even sure you will say that Buhari performed better than Tinubu.

Agbalowomeri:
It cannot even be a reason. The only reason why there is more revenue after devaluation is that there is less pressure on the dollar which can be deployed elsewhere instead of defending the naira.

If it is one of the reasons, then the government should not be fighting tooth and nail to keep the naira stable

KarlTom:
The debt is humongous o.
IF they are converting ALL the debt, that will take the SP to kobo...

Agbalowomeri:
I am even sure you will say that Buhari performed better than Tinubu.

Agbalowomeri:
I am even sure you will say that Buhari performed better than Tinubu.

crownprince2017:
Buhari better na, person that left 3b dollars in reserve and tried to change naira to curb corruption yet people cut grass for billions of naira, repainted aircraft with billions of naira with endless queue during festive period at filling stations, people using connect to make billions doing arbitrage transactions and using above 90% of our revenue to pay debt.

megawealth01:
What's the difference sef?

I always avoid political discuss by all means here but you see JAGABAN and BUBU talk no just follow as far as the common man on the street is concerned

crownprince2017:
The clear difference on the street is, when Buhari enter inflation keeps going up, although slowly but never come down because of the obvious reason. Anything that goes up never comes down
When tinubu entered, inflation went up faster but gradually coming down which looks normal. Anything that goes up must come down gradually.

mikeapollo:
There is never only one reason for a major economic policy decision like the sharp devaluation of a currency! There are always a combination of factors. So far, I have not seen the govt/CBN issue a circular to say there is only one primary reason why they devalued the naira. So where do you get the ''primary reason'' from?
Govt officials themselves have come out publicly to say that they see benefits from the devaluation because they get more revenue to support the budget. And you want me to denounce or deny it here in order to please someone's opinion?

megawealth01:
How much is rice in NAIJA?

The money I send home has increased sha

In the beginning I thought I was being lied to until I started observing online talks etc

awesomeJ:
You wrote entirely in English??

Streetinvestor2:
2 Don't ever buy sound stock shares that is illiquid if u are not planning to hold for yrs..U go hear shaga when u whan leave after the appreciation way u dey see for paper

Agbalowomeri:
I am even sure you will say that Buhari performed better than Tinubu.

Agbalowomeri:
The regime has returned to naira defense.
They are comfortable around $40k. Hopefully, the reserve will rise significantly above that in the second tenure. I expect foreign inflow to slow down next year, preparatory to the 2027 elections

crownprince2017:
It ranges between 60-65 In my place.

Note: I bought a bag just last month