₦airaland Forum

awesomeJ:
NGN official closed at 1455.24 gaining 1.36%

The 1450 resistance should be broken this week.

Ah...
I thought today was Monday o.

Must be yesterday's holiday.

Anyways it just might still break it since it's just N5.25 gain that's needed tomorrow.

Odunharry:
Hopefully we see it at that level. Whether it will get to below 1,400 levels before year end is another thing.

Odunharry:
Hopefully we see it at that level. Whether it will get to below 1,400 levels before year end is another thing.

Odunharry:
Hopefully we see it at that level. Whether it will get to below 1,400 levels before year end is another thing.

Agbalowomeri:
You no talk this month you dey talk year end
My year end projection is 1200

SonofElElyonRet:
So the mill has not been commissioned? Check again

GeneralDae:
Customs were mainly influenced by NASS who increased their target and they have been insisting on this new fees for a while saying the cost of their operations have increased and many things have to be maintained. I cannot say I am certain Tinubu didn’t see it, but I look out for his reaction more. If Tinubu wanted it, complaints and mummuring alone would not make him reverse it. You may be right that it came to his desk and was approved initially by him. I cannot prove or disprove that.

As for the crude oil and Dangote matter, there was a lot of propaganda involved in it. NNPC didn’t sell crude as agreed because crude production had dropped drastically as at 2023/2024 and they couldn’t fulfill their side of the bargain. Between 2020 and 2022, lots of forward sales were also done. NNPC disappointed Dangote due to these reasons coupled with the fact that the refinery was at the pre commissioning stage and it was a time Dangote needed easy/quick crude for testing but it was also a time where our production was low and we had forex shortages and lots of forward sales. NNPC couldn’t just give Dangote all he needed for pre commissioning at that time (making little profits) and hence they scaled back ownership from 20% to 7.2%.

From the view of Dangote, this was disappointing and rightly so because he then had to spend to import crude at that stage.
When Dangote was complaining, these were the things he was complaining about in the case of NNPC.
Then when he spoke about Malta, opposition twisted it to point at Tinubu with no evidence but the fight was against big oil importers. Also, it would have been foolish for Tinubu to clearly take sides then by banning imports at that early stage.

When NMPDRA spoke saying they couldn’t determine the Dangote fuel quality or it not yet been ready, you cannot automatically say that was Tinubu speaking. Yes, Tinubu would not ban imports but to believe he told NMPDRA boss to give that speech as the excuse would be far too simplistic.



Summary: Was Tinubu against import ban? Yes. Does that mean Dangote was attacking Tinubu for that? No. He was attacking the marketers like DAPPMANN whom he calls the cabal. Tinubu doesn’t need to ban imports for him to take over the market but where the cabals try to restrict him from doing that, is where he fights (note the difference). Is Tinubu or Oando allowing imports because of Malta blending plant? No. Because no evidence links Malta imports to Oando or Tinubu but rather to another businessman who gave Buhari $1.5 Billion in 2020 in one of those forward sales.
So me I’m all for facts and the evidence and as investors, I’m sure this is the opportunity to learn. If I’m wrong on any of these points, I would gladly take it back.

Agbalowomeri:
You no talk this month you dey talk year end
My year end projection is 1200

awesomeJ:
1400 is likely.

I mean it's just N55 more, and the trajectory looks good.

I even hear people who held USD for hedging are beginning to exit their positions as those hedges are turning out to be redundant.


The direction it's headed, it should go below 1400 this month.

Then we'll be seeing PMS below 800, and GDP will then climb above $300bn instead of the embarrassing $250bn.

Pennystockwarri:

https://www.youtube.com/watch?v=cPFIzi50DUQ?si=SHnYoNwtNDRop_qq

A summary video of today's trading session on the NGX.

Agbalowomeri:
You no talk this month you dey talk year end
My year end projection is 1200

megawealth01:
JAGABANomics

handsomebolanle:
Sabotage is a broad word…
Every company has a PENGASSAN whatsapp group.
What we should be asking is that “what exactly was the discussion and what exactly was the sabotage? Where are the evidences oor screenshot of the exact conversation ?”
Omoh, ah don tire
This matter should rest Abeg.,,

Odunharry:
If it goes below 1,200 by year end then it will be a good one especially for the economy.
My prediction around 1300levels. They should continue what they are doing that is making Naira gain for weeks now

awesomeJ:
At some point fear might set in and accelerate the gains.

I mean I still hold some dollars I bought at 1605 in May.

The only reason I'm still holding is that it's just $100 .

If it was $100k dollar, I would have started selling it off at 1550.

Cos at current price, the loss would have already reached 15m in 5 months.

When you add the fact that fixed income earnings for 5 months on N160m would have been another N13m.

The N28m loss becomes even more painful.

Streetinvestor2:
If it ever touches #1200 this yr.Then panic/fear will land with full force.
Touching 1200 is whr the wahala dey

awesomeJ:
I think below 1400 sef, some people will start panicking, depending on how much they hold 😁😁

Heishere:
It will still climb back afterwards. All the borrowings are not used to solve the root cause so the appreciation seems temporary. My concern is those that invest in US stocks, will they be affected by the new tax rule given that they are also required to pay tax in US?

Heishere:
It will still climb back afterwards. All the borrowings are not used to solve the root cause so the appreciation seems temporary. My concern is those that invest in US stocks, will they be affected by the new tax rule given that they are also required to pay tax in US?

Agbalowomeri:
You no talk this month you dey talk year end
My year end projection is 1200

awesomeJ:
You're saying this based on data or sentiment??


The currency was stable at 360 from 2017 to 2020, reserves weren't this high,and we were still importing 100% of our fuel consumption.

You can bet against the currency, it's your money you'll stake not mine.

Given the current trajectory, these gains will be sustained and increased.

Streetinvestor2:
U will pay them CGT over thr
Then u pay PIT as u reside here

awesomeJ:
At some point fear might set in and accelerate the gains.

I mean I still hold some dollars I bought at 1605 in May.

The only reason I'm still holding is that it's just $100 .

If it was $100k dollar, I would have started selling it off at 1550.

Cos at current price, the loss would have already reached 15m in 5 months.

When you add the fact that fixed income earnings for 5 months on N160m would have been another N13m.

The N28m loss becomes even more painful.

Streetinvestor2:
So the mill has been commissioned. You sabi ask for evidence. Can u show us the evidence.
I hope that guy way sabi lie never spit put for your palm

megawealth01:
CHAI... PZ and UNITY BANK on my mind

Streetinvestor2:
So u dey the watsup group then. That is why u whr believing dangota will bend his back.Then he gave u guys check mate.
Watin una dey talk for the watsup group.

Heishere:
This is not the first time our reserve was high. Neither is it the second nor the third but the Naira kept on depreciating. Infact, we achieved consecutive trade surplus from 2008 to 2015 before APC came and scattered everything. What is different now, Dangote refinery that they are trying to kill?

Heishere:
This is daylight robbery. So, a salary earner is basically slaving for the government. You pay PIT on your salary. You invest the remaining is US stock and they charge you CGT and when you bring the money home they charge you PIT again. Is it not better to just drink away the money.