₦airaland Forum

NothingDoMe:
FX reserves is not a "Flow".FX reserves are a type of savings.

Now when you deplete your savings, you do it to meet your financial obligations.

So why did the CBN deplete the FX reserves? Or rather, what financial obligation compelled the CBN to withdraw over $300 million from the FX reserves (savings)?

No.
It is a flow ,go and learn about it,
The net surplus of this flow is what is called "reserves".
That's why it is possible to have negative reserves.

NothingDoMe:
Because it's supposed to be on a steady gain seeing as how the CBN claims to have not interfered with the FX market by using the reserve to defend the Naira.

Not exactly,
Foreign reserves is a flow,that is inflows minus outflows.
No intervention means the CBN isn't injecting cash directly to stabilise/control prices,in essence prices are determined by market forces,
Doesn't necessarily mean there are no balance of payments from the same reserves.
You still deposit your naira and get paid forex in your destination of choice,however at market determined prices.
A lot of people don't know how things work yet blow alarms unnecessarily ,even though I know nairametric knows but is just looking for headline news to freak out untrained minds.

Greed,
Had a direct member of the family fighting everyone to own the family business because he didn't wanna share with me basically cos I was the only one left to share it with him.
Well,2011 they finally handed it to him,nigga crippled it because it was too big for his greed to effectively manage.
That's how the family business perished in less than 10 years.
Well,guess what?
I am now bigger than what was,operations, network and sophistication keep growing .
He's doing quite well now,but his greed and pride sowed a seed of discord in the family.Factions and loyalty groups everywhere.
Funny how prosperity can become a curse in the hands of some people.
I'm really cool not talking to a lot of them,I only fear bringing in new members into the family to come experience the mess ,
Waiting for time to fix it all cos I'm not making any effort to build any relationship with anyone.

Chingyyy878:
Very true bro.

Omo ,experience never lie.
It sucks!!!!tueh.

Aaaaarghmed:
na the koko be this.Especially if you are looking for love in Africa when you already have small money.na so so leeches you go dey meet.

On God!
Love na the worst!
See ehn,when you see any big man with a questionable wife ehn,just know say na the make money before you look for love crew
Cos when you finally grow,time don go,you are no longer in uni circles no more and most likely since it's new money,you've got no access to old money gang.
So you have 2 options:
1) Chose amongst the lesser evil if you want youth in a woman,meaning if you need a young woman,you pick amongst the best leeches accessible to you or
2) Pick from the independent women at par with you with a huge trade off of youth( 30+) cos it took her time too to build to match your level and she probably had similar ideologies as you ,such that she traded her own youth for success.
This is where the questionable comes in...She's got the charisma,intellect,financial independence and social network to be with a gee like you but at a stiff trade off of youth and innocence.
Why would any made nigga want this sort of mechanical relationship if he could chose?
Nigga just picked the lesser evil and focused on team player but will die unhappy inhl his marriage wishing he held up his childhood relationships.
Too far gone... not for you,duh!

Last chance you have to build true relationships/friendships ,devoid of material influence is uni.
No try enter street say you don make money want build social life

ibechris:
Some useless Ronus would say Tinubu has done well.

The level of poverty and misery in the land is beyond words.

Let those who haven't been truthful to themselves keep the lies going. U see,if ur parents aren't connected or rich in this country of today,u will suffer the consequences unless,u are lucky or destined to be rich.

But the truth is,many would struggle. I know how much I earned in a month,yet I am complaining bitterly. Last year,I earned about 56million,I spent roughly 20million on households alone. It saddens my heart to see this. The money I spent for extended families alone was crazy.

Let alone those who are still suffering. I travelled to my village,the truth is,I have been indoors for the past two days,uncles are calling me,many people are calling me aunties are calling...I just switched off.

No be me be Tinubu.

Nigeria is in a mess, it is only idiots who are tribalists and without reasons are those who feel the country should continue in this trajectory.

You don't need to be connected to succeed in Nigeria,it's a bustling ,growing economy desperately looking for skilled people to handle it's affairs which it lacks badly,reason the bulk of the people is suffering.They just lack capacity.
You made 56m and spent 20m on household,you're extravagant chief,part of the problem.You all are serious,entitled consumers.If you had real plans like an ambitious human should,you have no business spending almost 50% of your income on groceries

The people that are succeeding are succeeding ,and the complainers will always be there feeling entitled untop of meagre government resources.
I sincerely love what Tinubu is doing,enough of the freebies abeg.
Let the nation breathe,and I'm igbo before you start any sort of silly bigotry.

Dangote already knew he can't rely on you for crude,that's why he built a refinery that can crack all grades of crude.
This is a cheap move against competition from a group as big as NNPC.
He will still beat you clowns production cost wise even after importing crude cos his technology are newer and has bigger production capacity in a single train,other than you that have yours scattered in bits all over the country.
Next thing is you people will start selling crude at a discount to your subsidiaries,but it still won't work.
Lazy Nigerian approach to competition, tuckers!

Iceman296:
Nice one, Sujimoto is diversifying into different things, an astute business man

Diversity don't always mean profitability.
Most business usually fail when they start diversifying.
Do what you know to the fullest and expand your reach in the same trade,not Diversity rubbish.
Multiple businesses can mean multiple liabilities.

Find someone you love while you're young and build with her,it's very difficult to love someone after building alone for a long time.The scars and lessons you got on your way up will make you very weary of your feelings ,too mechanical.

When you start changing status,pull your woman up with you.You don't wanna be up there and she's still almost where you met her,all attraction you had for her will fade.

You don't need friends,you need brothers.That loyal motherfucker that'd fight first and ask questions later.Even if it's just one person.

Avoid showoff or largesse of any kind cos the people untop will get scared you're growing to fast and will wanna stiffle this growth if they can.
Be modest and calculative.

Trust no one with your innate issues or successes,this is meant for your partner alone.
That so called mentor might be jealous of you so shut it and tell this to either parents or wife cos they've got a lot to lose if they Bleep up with information that'd get you down or killed.

Support your family if you've got bank,especially your aging parents.
It's a great feeling to see the day you give back to the people who sacrificed a lot to form you into a refined human,
Definitely better than giving those who don't rate you cos you're trying yo impress.

Take good care of yourself and always look good and clean,it helps your confidence.

Avoid loud and gutter women,especially if you've built something too good to lose!!!
It's usually better to mingle with your social class at all times,so y'all can always meet halfway.
All that "person na person" talk na pure cap.

Commodity trading.

This Kazakhstan hard pass Burundi
Nwanne mulukwa anya...
To chop there na war lol

Came4amod:
There is no fixed income package that makes sense .. and if you buy fromn thief's you will loose all your money .. if you fix 50m in the bank you will make 300k monthly.. 50m

If you can make 50m 300k is trash money to you .. so it don't still make sense

50m go easily give you 1m/month.
Nobody is selling credit to any bank right now less than 24% when CBN itself is selling to them at 27,5% .
I wonder how you got 300k

aicon4s:
100m might be a lot to you but for some others it is not much of a value.

A 100m property that brings in only 3m annual returns of which part will still go into property maintenance, Meanwhile through that 100m property he got a loan of 500m and built an Hotel that is capable of raking in 50-80m per annum. You should know where his interest lies

You keep chanting this your borrow stuff.
Bank loans come with something called interest, they're not free.
Last I checked is 35%.
It's incredibly unwise to borrow money in today's Nigeria.
I'm in luxury business and I can't even afford to borrow,so I run the business with my equity.
Then I'd take 100m from it,go one place build house for rent to use as collateral to get 500m loan I'd be paying 175m for yearly?
Also no bank go give you such credit cos you own house that they can't even sell,
Na your track record or turnover dey talk

IamANigerianMan:
Some of come to Internet to say rubish...tell me which business you can do to have the profit of N8m to N10m with N80m in year that is risk free like building... ?

You're better off buying fixed income packages from commercial banks or government with your N80m bros.Will pay you more and us also risk free in a sense.
House do burn down,get demolished or end up in disputes too..not entirely risk free.
And no N80m property is giving you 10m/Yr chief,doesn't exist.

Themandator:
There is hardly any depot in Nigeria that has a storage for more than 1500mt... Hardly..... The calabar you mentioned there is none close to 50m and none in Warri.


The ones close to such capacity is closed like capital.....


That is by the way, nnpc price is not static.

Dangote first claimed it price was determined by nnpc own price for her markets meaning that Dangote is in a panic mode by reviewing their price while nnpc was yet to do so.


Nnpc, like I have stated is not just nnpc retail. It is far more than that..... They are not hungry about pms market... They can wake up tomorrow and sell at 600 and ask everyone that has paid and yet to load to load at that new price and keep their balance for future retirement


NNPC is a behemoth.

Another issue you raised is that NNPC can award themselves crude in local currency which is a fallacy.

Crude are priced in dollar and paid to cbn.... Only the government can permit nnpc to sell crude to her refining business in naira just to help the naira not that it confers any advantage.....

The price is determined using the prevailing exchange rate so rather than going to source for dollar and putting pressure on the naira that will be the agent looking for the dollar it is presented as the instrument of payment


As for crude supply, it is as you make your bed. Nnpc owns the crude, not nnpc retail.

Crude allocation to local refiners are governed by laws. It is not arbitrarily done.. If Dangote has a waterproof contract for crude supply with nnpc it won't be breached without consequences but if he didn't know he was supposed to enter agreement and only realised the crude was not in the shelf pay and load business it is nobody's fault but his



Nnpc owns the market. Including owning retail outlets all over Nigeria

A quick Google search will easily disprove this claim,
Pinnacle alone in Lagos has about 100,000Mt holding capacity,
What will the likes of MRS and Co have?
You seem not to know the difference between MT and litres.

Dangote was waiting for NNPC to determine pricepoint only because they were to be the sole offtakers of petroleum products from his refinery for local market before their deal collapsed and not because he was holding for NNPC for competitive reasons.This is naive.

Oh yes,NNPC price isn't static but can't be as dynamic as someone producing as over 1000% more capacity,Dangote can go way lower than they can if it comes to price war.

If they wake up and sell at 600/litre without ant economics backing it then it's only a matter of time before they go moribund again and leave the entire market for Dangote.

Crude isn't priced for local markets at international prices anywhere in the world,this is highly uninformed.

You're a bit too excited about nomenclature too,
NNPC is one body that can align all subsidiaries to achieve a common goal,like selling raw materials at discounted rates to its subsidiary.
The government has no say in this except to wait for remittance from NNPC Corp.

Dangote will clearly win this fight,it'll only take time...
End.

Themandator:
Pms has a standard price whether produced from modular refineries or largest in the world unless you are a monopoly in your marketplace.


NNPC has been in the business of subsidizing petroleum products for ages and still returning profits to stakeholders.



Nnpc limited is not just nnpc retails... Their business looong and vast



With their multiple refineries, they can send Dangote packing... 2 in the south south and 1 up north... Before you truck from lagos to the north the person up their would prefer to buy from the nearest point for his own good


A truck of Pms is over 50m. Adding transport it gets close 51 plus and without Aquila, the man in Markudi will choose return of capital over return on capital

nothing concern standard price and big buyers bros,
Even crude oil,them dey discount am.

You seem to think Dangote's target market is filling stations.No.
At 970/litre and 1040 NNPC is currently selling,
Difference is at 70naira/litre.
Multiply this by a major marketer buying 50million litres at a go,that's 3.5b naira worth of marginal difference,
Marketer go use ship move am to his tank farm in calabar for 1billion,save 2.5b ,then sell to small people that was suppose to pay for truck and bear risk to go to PH from calabar to buy at 1040 at the same 1040,Dangote wins.
That's how refining works,Marketers and not chewing gum filling station owners.
And I'm sure the guy buying 50m litres will still get more discount.
The only place NNPC go beat dangote na raw material price and guarantee supply,nothing again.

Themandator:
Dangote cannot drive nnpc out of this business. Instead it is the other way round.


Nnpc has been subsidizing products since they became limited and still be returning profits in billions.

If it is war he wants, nnpc is equal to the task and with refineries in North and south, they have the fields to themselves


Port hsroucrt will servixe all they way to middle belt. Warri all the way to South West states close to them

Kaduna core northern states

Larger ,newer and more efficient single train refinery will produce cheaper than multiple small capacities scattered in different locations.
The only reason NNPC will flog dangote Hands down is that they OWN THE RAW MATERIAL(CRUDE)!
They'd sell it to themselves for chicken money and in naira and use that advantage to overrun dangote price wise.
But Dangote can also afford to leave local market to them and kiss Vitol and Trafigura ass and those ones when them see say NNPC Don handicap am for local market,them go price am 400naira/litre

EMIOMOADEOYE:
How many regular people do you know that buy 2 million liters in one trade.

Even if you have 5 filling stations you cannot buy 2 million liters in one go. This is clearly not for small fries

Filling station no dey go refinery to buy,
Marketers exist for this reason.
Na for Marketers hand filling station dey buy.

Tonytonex:
that's 2 billion Naira with logistics. How many people can afford 2 billion Naira minimum purchase? That's why NNPC was the one doing it

Marketers will easily do this nau,
They'd buy shipload, take to their tank farm and sell to people in bits buying truckloads.
N2B is nothing to them.

Judolisco:
Wow.... He studied in the UK and he came back home... Good

E for no come back na,
Make UK grannies use shit and dry toto kill am for geriatric centre

Not for all type of leg type tbh,especially skinny ones.
Makes it look like fowl weh cut rope weh them use tie am.
Quite sexy on some clean ,good looking legs though.
I think nothing about it tbh,most times worn by good girls trying to look bad.

Macktaob:
Quite enjoyable to read. SeaTrade dey claim “love”, be like he mix the spelling of “lust” up.

But on a serious note, I think this one mistake we men make or men’s natural faulty sense of judgement which is we thinking “being considerate to women’s desires/wants” is reasonable. We always forget that that gender is never reasonable and they hate taking responsibility. They prefer to claim they “got carried away”, “didn’t know what came over them”, “they got coerced into it or forced” rather than making it seem like they wanted it to.

Why was she all over you in public on the second day of meet, first day of proper meet/date, in the presence of others and her friend?! She even let her friend leave alone, didn’t they come together, wasn’t she there for a purpose, was the purpose fully achieved while she leaving?! No of course, meaning it’s all just to not take responsibility for that all night fantasizing she done get of SeaTrade’s black D over night if it eventually had come to reality.

But baba eff up, he go play gentleman.
Na to go listen to “Gentleman” and “Shakara” by Fela again.

The signs were all there that she knew what she came for ,I got it to be honest.
But a lot happened during dinner.
First of all she held her conversations very well when we were talking business,likewise her friend.
She didn't act slutty,was respectful ,mannered and open to conversations with everyone on a friendly level,she naturally let me lead ,told people that wanted to "know her more" to get whatever knowledge they need of her from me,etc...omo,my head swell and I begin see future asap
I think her problem is that we will lead nowhere and she's 27.
She wanted the D for the night and a man to call her own in the real sense of the word,
To her ,all I could've offered was the former and I messed it up,so what's there to meet up on again?
Don't know what I was thinking honestly.
Nigerian in Nigeria dating a YOUNG girl in Europe from Nigeria,nah...chances are too slim.
Everything changed when she asked me at dinner when I'd be leaving and I said couple of days.
That was when she made up her mind to just have fun with me and move on ,then I blew it,fantasising over rubbish

This is a beautiful story,I'm healing from it small small and trying to move on with my life.
Not long ago ,was headed to Europe for business.
Flew Airfrance,landed in Paris and due to the fact that I arrived Paris late,I missed my connecting flight and somehow all I could get was a 14hr layover to catch another flight (story for another day).
Lazied around,smoke cigars,shayo,tried to get airport hotel(I no carry card cos I thought I didn't need it ),they declined cash .Was tired,exhausted and felt filthy.
Anyways,boarding time reach and at the gate,I saw the most beautiful piece of black art I've ever seen in my life.
Dark,sweet,round bright eyes,short haired,active and smart looking French girl.
She had a catchy backpack on her and as I dey try get scope to toast am,the backpack says something that is in my line of work.
So with this,topic Don dey nau,
I rush block am,greeted,ask why her bag says that and she told me she works there,I did too in Africa,
Conversations continued,asked for her number,she gave me a code to scan to get her whatsapp number (I never see those pattern before ) ,so I did but at this point, we'd already started descending to our gate so i was losing coverage on airport WiFi,
So I bone,told her I'd do it when we arrive our destination cos I'm still transiting so I'm not fully setup,she say no wahala. (Note that I was still indifferent about getting her or not at this point cos there's no connection yet.Throughout the flight,my eyes dey on her,As plane land I already hold my bag dey fly out so I don't lose her.
We reach PoE,she fly pass as EU citizen, mama weh dey counter dey ask me stupid questions, I dey boil,she sef dey gimme attitude, who send am?shior.I answer all her questions, she stamped me in,
If you see as I take fly go carousel eh,so that I go catch up with bag and I did.Thank god say bag boys be slow that day.
Connected to airport WiFi,got her whatsapp,offered her a ride cos my guys came to pick me in style,so I want use style show her say boy guide small ,she declined, asked me the part of the city I was going,told her and she said it wasn't her route bla bla bla...I asked her out to dinner the following day and she said we'll see...
We bade our goodbyes and went our separate ways.(I was still indifferent about her here cause I know women,e fit no come).
Omo after series of meetings,work and waka about ,headed back to my hotel,now I've met and reconvene with my guys,we've talked about a lot of things and about her too,
I texted her,she obliged and asked me if it was okay if she came with a friend?I said fantastic!
Omo you need to see as guys dey happy
Got there,she and her friend came ,was a lovely experience,before you know it,we started kissing deep passionate kisses right in front of everyone mehn,guys couldn't believe it.I mean French kiss and that girls lips soft like banana.
The friend come dey worry am say she want go,we went to see her off,she left and this time we continued again outside, bro I kiss this girl,press yarnsh, romance am ,all my preeq Don stand ,the girl Don dey already moan for kiss,I know say everywhere ripe.
She had already confided in me that she brought the friend so she won't make any bad decisions,
So not to come off as a user,I didn't push to take her to my hotel cos I thought there'd genuinely be a next time(big mistake).
So I took her to her bicycle and watch her ride into the night,
That'd be the last time I'd ever see her,
I don't even have a picture of us together cos I thought the dinner was just the beginning of a plethora to come,so guy man compose .
She only exists in my memory.
It was Halloween week,she told me she can't come to anymore outings with me cos she'd be welcoming someone for the season,
And I was to leave before end of Halloween back to 9ja,so no more chances with her.
Tried to keep things alive from a distance, mama deny say e no work for her right now.
I want die kai!!!
I be suppose carry that girl by fire by force,go hotel,show am say I be African stallion then pour everything in me inside and prays she falls pregnant,
The outcome would've been way different on God.
Well,I hope fate brings us together again,

Klass99:
Really?

This is one narrative I have refused to buy into over the years. Of what benefit is my physical presence when it won't solve their health or financial challenges?

We just follow norms like zombies without critical thought or questioning why. When one of my parents started mounting pressure on me to visit home so they could see me, I told them I spent 25 years of my life with you before leaving home, you know what I look like and I know what you look like.

That same parent once said they don't see me but they feel my impact from miles away due to how I support them financially without fail on a monthly basis. Which made me realise you can do right, do good and do well by your folks without being physically present.

Children were always meant to grow up, leave the nest and make something of their own lives. I don't get this emotional blackmail people put out there about visiting or seeing parents often so they won't feel lonely and they will live long. Story for the gods, when it is your time to die you will die and it won't be because of loneliness from children's absence. It was simply time for you to go.

Parents need to get a life outside of their children and not make children the be all and end all. Spouses should also learn to be friends and companions for those later years when the children are gone. We are all going to stand alone and give account of our individual lives when this earthly life is over, we won't be asked to give account as a family, so kini big deal?

Go and see your family,
Money isn't enough.

Because it is innovative don't usually make it useful.
This Elon guy us obsessed with this rocket of a thing.
Intercontinental rocket travel will be too risky,too expensive to make it a profitable business.
Concorde tech went obsolete on its own ,e come be rocket.
Autistic clown with a lot of money.

vintageviniba:
I want to ask, if you resign
Can you feed yourself for 6 months with your bank account not shaking?
If you are a family man.. can you do the same? As written above?
Why not look for job before quitting.
Hello!! Businesses are crashing here in Nigeria. Nothing works anymore.
U don't just resign to sit at home o. As a man. I know teaching job is stressful plus the salary might not be favorable. Brother think am well.

Dey play

usmanethical:
Install cctv.

There are cheap and portable ones in the markets currently.

Install CCTV for gas retailing business that's most likely operated in a corner shack ,can't afford a metering system and most likely making subsistent income?
The business can't afford this.

N303,000/week.
Not all personal vehicles though .

Bobo Chicago is the mastermind,architect and orchestrator in chief of this hostile hijack of Rivers state political structure.
I find it very hard to believe that a political newbie like the incumbent will be able to pull this kind of stunt.
And it is in his interest for things to go this way so as not to empower and give a potential rival and a serial betrayer like Ebube dike so much leverage and bargaining chip for future general elections,especially since we all know he's nursing presidential ambitions.
Ebube dike has fully lost political relevance and is now at the mercy of bobo Chicago,right where he's always been wanted.
I'm sure the picture of what happened is very clear to him now and he must've drenched his mattress with premium tears.
APP will merge with APC in the near future and APC will own Rivers state.
Nobody knows this game than Chicago man,
The incumbent too wouldn't go too far either with this move he pulled cos the people he did this for also see him as a betrayer.
They'd most likely install their stooge ,probably come 2027.
Interesting times.

These bottlenecks are just caused by interest.
NNPC is rounding up with selling its retail arm to OVH Ltd,and unknown entity that most likely belong to cabals or worse,Oga at the top.
So clearly,NNPC will hand over this sole distribution rights over to OVH and then OVH now assumes being the sole offtaker of the products from the refinery.
This is a very well thought out scheme with powerful people fronting regulators(NNPC) as their proxies for their interests,cos there's no bloody reason for this cos it means NNPC and their cabals will still influence retail pricing for the product and make a lot of money for themselves.
Even person weh get refinery no even get say for his own product lol,
Underestimate cabals at your own risk.

DrAda:
I still can't explain how the term 'hot cake' came about. No one likes their cake hot.

A better reference is hot soup or hot pap. It is high time we resisted all phrases in English that make no sense.

Every cake no be ice cake na madam.
Growing up ,there use to be some muffin looking cakes that they baked in small metallic pans back then and of course,the hotter the better so people usually go to queue in such bakeries in the mornings to rush the product when its still hot,high demand sort of thing..
That's where the term came from.