₦airaland Forum

Theunbothered:
Oh wait I thought the land border wasn't generating anything for Nigeria abi isn't that what you said?



Bullharry impeded the movement of Nigerians for 3 years while achieving nothing with his foolish border closure. Donkeys like you with slave brains like you can't understand, maybe if you had a passport you could.



Because you can't afford to travel there, you don't even have a passport which explains your daft takes on how trade in Nigeria works.

"Shithole" with 24/7 electricity, no terrorism and currency that holds greater value than the naira. If they are Shitholes Nigeria is actual shit.



You can as well keep the border closed if you can't do the basics of border control, after all the last closure was a resounding success wasn't it?



Why did you think Sanwo was rushing to commission the port at Lekki? Shippers were even dumping Lagos because it took weeks just to get a slot for inspection.
https://punchng.com/swiss-shipper-dumps-lagos-terminal-port-congestion-looms/

You are so empty I don't even think I will reply after this.



Government made business hell for so many to the point they they japaed or folded up all in just 6 months get that through your worm infested skull.



Every other fool on nairaland is a millionaire online. This cow is sending mountains of messages at 2 in the morning talking like he's a relevant person in society.

You are the sufferhead,not me.
Like I said,put augmentin 300k ,I'd pay if I need it.

Theunbothered:
The Seme border, just one border crossing netted 3 trillion naira for Nigeria. If land trade is negative for Nigeria why don't we leave ECOWAS?

See how empty you sound?
https://tribuneonlineng.com/seme-customs-surpasses-revenue-target-by-55-1/#:~:text=The%20Seme%20Customs%20Commands%20has,the%20end%20of%20October%202023


Since you want to insult no problem. Benin and Togo modernised their roads and ports to make importation easy. Importing through the land border also reduces backlogs of clearing at the Apapa port. You would know that if you had a business or bothered to read, mango seed brain.

.

Most of our fx is spent on fuel imports even though we are one of the largest oil producers in Africa. There is also a huge backlog at the sea ports because again, we waste time moving oil and oil products.


One of your APC miscreants was crying over the price of ventolin a few days back. The cow was posing on a private jet during campaign season not knowing wahala would touch him soon.



Yet APC miscreants are crying about the price of ventolin. GRV that was sponsoring medical treatment for Lagosians isn't your problem, if he quits politics and goes back to America it won't make drugs cheaper.




Producing cigarettes and life saving medication what do you think is more important?


You are just a daft toy I'm using to pass time, all this shalaye won't help when the doctor sends you your bill.

I talk am say na me and mumu dey follow argue.
Seme border generate 3 trillion naira ,then how much NCS as a whole dey generate?The clown can't even read figures
You foolishly don't know that ECOWAS permits free movement of people of member states citizenry ,why should we leave and impede our people's movements?

I have no business with shithole countries, whatever Togo and the other impoverished one is doing is their business.
So because of backlogs at my ports,I'd direct importers to put destination to cotonou, get there,pay some levies to their government,then enter inside cotonou with container,find big bucket truck ,transload to what should be in 3 containers to one truck ,reach border,under declare what they're carrying and I keep losing revenue and you say you're smart abi?
Not to talk of the daredevil ones that will find small shanties in Benin Republic, warehouse their goods and use bikes and scrap card and smuggle all sorts of items to Nigeria unchecked,undeclared and zero duty.
And you say you get sense? which yeye backlog

What have you done about the finished imported petroleum products??Dangote and waltersmith na person like you.
Government has no business running businesses ,private enterprise should solve this problem.
Na Vanderbilt and Andrew Carnegie them build rail roads in America and Rockefeller built education .
Drugs cheaper or expensive isn't My concern,sell at 100k I'd still buy or port to a cheaper alternative if it exist for what i need it for

If producing cigarettes bring more revenue,I'd focus on cigarettes and import medicine. Comparative advantage things,you mustn't do everything but of course you won't know as you're dull.

When the doctor sends my bill I'd write a check,irrespective of cost or how much it has inflated.That time is better spent creating more income sources than screaming that medicines or milk now cost more on the shelf by 2naira,
Such unproductive activity for dafties like you.

Theunbothered:
So America should close the Mexican border right?
The last time they did it during the pandemic the economy suffered.

Closing the border to drugs makes even more sense than rice RICE o.



Which right channels when they closed the bloody border?
You make the right channel illegal them complain about it later.

Nigerians couldn't even get forex to import rice until earlier this year.



You think this is about money? People are at risk of dying because all medication has become expensive across the board. If British and American tobacco leaves Nigeria people won't die because of it.



They are useless but Nigerians are crying to Tinubu because they can't afford asthma medicine.

Drop their sales figures for Nigeria, they make most of the money by producing here and selling abroad. Let's see how much it compares with GSK.



I litteraly just explained the current situation and you're grasping at straws to prove a point that leads nowhere.

America can't close Mexico border because trade between both countries is formal and generate revenue for both governments,unlike their Nigerian counterparts where informal trade ,false declarations and smuggling is the order of the day in that scene.
So why shouldn't I close it if it threatens my local industry ?afterall it generates nothing for me.

You are very dull.How is the land border the right channel for importing rice that comes from Asia?
Are you mad?

You can't get fx from official markets don't mean you can't get fx,go to the parallel markets because we can't be expending so much fx to import rice that is grown locally.So get your own Fx,import and pay my duty at the ports.

GRV is crying ,not Nigerians.No be only GSK get inhalers.

If BAT leaves Nigeria, its thousands of direct and indirect workers will lose their livelihoods and suffer economically,GSK Nigeria is too small to have such effect and their consumers will simply port to their competitors ,No one will die except GRV.

There's a $1.4B PA tobacco market in Nigeria and BAT is its market leader,do the maths.
They don't even need to export to flop GSK's $50m revenue PA.

Your explanations are useless,and I'm exposing how empty they are to sound minds.

Theunbothered:
Guy you reason like a child.

When Wale Edun has majority stock at GSK what are they going to buy?




So you closed the border to stop the already illegal activity the border was created to stop.

Now explain did closing the border stop smuggling of rice? Yes or no?



They literally celebrated the border closure because they said "We can feed the country and export" that was literally the whole reason for the closure to "boost local production" of rice.
https://www.thecable.ng/farmers-borders-should-remain-closed-we-can-produce-enough-rice-to-feed-nigerians/amp


It's not an assumption from what you have shown in this short exchange you display a unique naivety and lack of understanding of how the Nigerian economic climate works.


A complete non-sequitur, only 5% of Nigerians smoke, every Nigerian has been sick, some multiple times a year.

Their products are also highly regulated as a health hazard, tobbaco companies aren't even allowed to advertise in Nigeria.

You seem not to understand how stocks work so id drop that with you as it is above your paygrade and not give myself unnecessary headache explaining sophisticated economics to a sheep.
Borders were not created to stop illegal activity but to demarcate countries apart.
It doesn't have to stop it to prove effective,rather reduce the activity significantly as no policy or line of action is absolute(you're too dumb to know this).
With all the resources expended at policing the US/Mexico border to combat narcotics, Mexico still has a $30B/year narcotic industry.
Do you now see how naive you are?
Of course the local farmers will be happy because it favours them ,but was it to enrich them or give them any sort of monopoly?No,because no one stopped you from importing rice through right channels.

5% of a 200m people market is 10m.That is a huge marketshare GSK don't even have because there's something called competition.
Might shock you to know BAT has more revenue than that useless GSK in Nigeria.
Their product are regulated doesn't mean they shouldn't operate here or have brand presence na,there are others operating fulltime like WAT,
Why then does BAT not operate too like them?
So you random nairalander is smarter than all the technocrats at BAT right?

Theunbothered:
You mean in Nigeria I can't threaten to sanction or seal your business based on flimsy accusations just so I can get shares in it?

Or in Nigeria the border wasn't closed unjustly so rice farmers could have a monopoly?

You can swear that it hasn't happened before?




Yes after selling majority stake in their business to a government run mafia the mafia is just going give it back to them. You are very smart.




You think this way because you have no idea how business oversight or brand recognition works.

No you can't.
I said they can buy back their shares from the market so the government mafia can't access them if that's the case.
And also why must the mafia force GSK to sell shares to them or ruin them when they can simply buy large volumes of it on stock trading floors?
You just can't walk up to GSK and force them to own their shares chief.

Emotional thinking again,borders were closed to combat SMUGGLING of rice,not its importation.
You wanna import rice?Good!Put the destination to apapa or tincan and PAY DUTY and not put destination to cotonou or Douala and sell to smugglers that later get it to Nigeria with zero duty and levy in most cases,dumping it into the nation without government making significant revenue from it and also destroy local capacity and its value chain.
Monopoly wasn't given to local farmers,get your facts right and put your sentimental reasoning in check.
I have no knowledge how business oversight and branding works?The way you clowns on NL assume things on people you don't know is funny honestly.
Let me give you one example,
You know BAT(British American Tobacco) right?
Where is their operation presence in Nigeria despite having a large factory here?

Theunbothered:
WALE EDUN is the cause of the drug price increase. His attempt to takeover GSK shares by force made them leave the Nigerian business environment.

This happened because his friends in government would back him.

Now rather than whine about the cost of drugs will you support Emzor pharmaceuticals to provide alternatives? Or will you tear the business down because it's run by an Igbo woman.

Choose wisely and choose fast, you can fall sick at any time.

You can't takeover any company's shares by force.
They can also decide to buy back all shares and take the company private if that was the case,they didn't become GSK by being ignorant.
I don't whine ,I mustn't buy GSK if I can't afford it ,there are a ton of other brands(imported and local) that do the same thing and are way cheaper.
It is cheaper to run any business by proxy than actual presence,that is of course after effectively building a brand via marketing and have established proper route to market channels.
So why exist in Nigeria and incure billions worth of operating cost and taxes when I can just get a Nigerian representative who bears all the cost and I just put 2 staff there to monitor his activities?

This guy will do anything to push a political agenda and its sickening,and if this is all he could come up with then I'd say Lagos made a good choice denying him office as his analysis is too basic for someone hunting for that office.
GSK exited Nigeria and as such ,their former distributors,wholesalers and retailers that are quite sure won't be having supplies from the parent company stocked up a lot before the exit and are hiking prices because of the supply uncertainty the exit caused,pending when the parent company will find an alternate route to market to start resupplying by proxy is what this fool is using to prove inflation?
Many multinationals are finding out they shouldn't have presence in a lot of markets worldwide and are shutting down their offices to cut cost and service their already established supply channels by proxy, its not a Nigerian thing .
Quite a fool if you ask me.
If you want to measure inflation ,you go across brands and calculate an average and not just cherrypicking.
Anyways,I don't expect much from people who haven't built anything in their lives as they always tend to be losers .
Life isn't black and white Mr.

So I saw a post on Instagram,brought it here for analyses from rational minds,
A guy in Nigeria owns a business worth N400m in liquifiable assets,business has capacity to make 60-80m a year on average ,but business being business nothing is guaranteed.
Also he can't enjoy his life because he keeps building the business and for fear of the unknown especially due to past trauma and experiences.
He feels he's maxed out as no fresh ideas again around him to push him to the next level as smart minds in Nigeria aren't easy to come by,and life has become monotonous and boring for the guy.
Then his date is pushing for japa ,promising a better future for them in the new land judging from other people's experiences and how "good" their life is and also from people abroad saying life is so good working there bla bla bla...
Also some of the guy's classmates are also doing quite good there too seemingly as one friend there in corporate West just copped a brand new Mercedes and is financing a mortgage in a good neighbourhood, single guy,no joint spousal income whatsoever,
Kind of tempting for the guy as he's bored and tired of this country as monotony has set in and no next big thing.
What would you do if you were in the guy's shoes?
The guy has no experience in corporate world ,neither is he qualified to fit in western corporate spaces.
Would you leave what you've built and its potential because you're bored with the life and chart a new,risky course or would you stay and hope you break out of stagnation in Nigeria?
The guy's trade has achieved some level of autonomy by the way but prolonged absence of founder can stunt the growth plans of the company as with every business.
What will you do if it were you,
Just curious as I found the Instagram post interesting.

AlphaTaikun:
This reminds me of the 2009 Hudson River plane landing in NY.

Sully lost both engines to bird strike and managed to glide a 737 without power and at low altitude into the Hudson and managed to dodge all those tall buildings without thrust and saved the life of everyone onboard and potential casualties on the ground.
Can't say the same for this all female crew who overshot the runway and crashed a fully functional plane into the sea,such rudimentary ops oo.
Imagine if they were in Sully's shoes?

Socialism is the cause of all these.
Everyone is quick to blame government and wouldn't want to address the root cause of the problem.
Right question to ask is ;
Who is digging these roads this deep? Of course trucks.
The next question is why?
They carry way more loads higher than what the contractors planned for vehicles plying the route.
Solution?
Introduce weigh bridges/stations across the country so that drivers carrying above their designated carrying capacities will pay an instant penalty on the spot ,so that this revenue will be used to service these kind of damage when they arise.
Everything no be government, fucking black pigs that can't get nothing right,
Fuckers.

naptu2:
Estonian slack liner Jaan Roose. His walk was sponsored by Red Bull in collaboration with Sterling Bank.

Nothing to do with sterling Bank,
They just used their building to tie the line to the jack up rig,
This was fully paid for by redbull.

TANID:
Might Be For Guiness World Record

Nope,
Sponsored by redbull,one of their daredevil challenges.
It's a white guy doing that with safety gear BTW.

Mindlog:
Sadly, most traders doing high volumes find it unnecessary to engage accountants in their businesses as they believe as long as the shop is stocked and they are able to restock when due, the believe the business is going on fine until they crash.

You're intelligent.
Seems you've got a lot of trading experience?
I want to know you btw,
Shall we?

Mindlog:
I know how fast paced trade is in Oke -Arin as my mum once had a shop there for many years where she sold bales of stockfish with customers from different parts of Nigeria and weekly, she had my eldest sister who was then studying Accountancy at Unilag, to be reconciling the books, it gave little room for the about 5 people who worked in the shop to steal from her because records was always up to date.

Exactly,
That's the only trick,to get a
Competent accountant with modern tools,else they'll steal you silly.

Mindlog:
They were paying in cash and they collect the goods, the owner was not checking her banking records in details.

You can't possibly check hundreds of transactions daily na,remember they're in the open market as busy as oke arin with hundreds or thousands of customers.
At some point,you bring in a consultant for audit,say 3 months periodically.
That's when the myth was busted.

Mindlog:
It is baffling that someone has been deleting invoices and not making remittances worth the employer’s N64m to the company's bank account for a span of 3 years and the company did not pick that up until the anonymous call?

Very possible,he didn't take it at once and the business could be a high turnover one with hundreds of invoices and receipts daily.
How then do you notice that some invoices has been deleted?
The only people I fault are the clients that paid monies to his fictitious accounts knowing well that it doesn't tally with the company name on their purchase invoices.
Or did he have access to his company's bank accounts too?
Oh I get it,they were paying cash for those invoices,kai.
Reason we don't accept cash,transfer or get out!
I need that paper trail for effective accountability.

zed7:
Stick to topics you know boy. Anyways, it's a public forum, nor be everything dem dey tell small pokin.

Funny thing is I'm quite sure you can't open your mouth and say this if we were standing next to each other.
Anyways,enjoy the anonymity the forum provided you while it lasts,
See butterfly weh dey call me boy,wonders.

cococandy:
Tribe, religion, ethnocentrism, corruption, bribery?

The north(predominantly hausa/muslim) has the largest number of poor people per unit area,
Going by your analogy,they shouldn't be poor then since all it takes to find Nigeria favorable is being Muslim,hausa..
Drop your corruption argument as almost everyone from all geopolitical zones throw bribes around and are corrupt.

cococandy:
If I had every policy maker in my pocket I’d say the same too

The real question is why don't you have a policy maker in your pocket?

nedekid:
So if you have acess to cheap dollar as a businessman, will you buy the dollar and use it to immediately import needed equipments? How much will I make from such equipment compared to round tripping? Wount it make more sense to round trip multiple times, and finally import the equipment with my gain from the money? At least that is what who you say is smart will do.
Abi, who does not like easy money? Why do you think the refinary did not open years back despite all the billions of dollars Emefiele, kyari made available to dangote?

So CBN na US federal reserve with unlimited fx supply that you'd just be round tripping billions of $$ and keep going back and keep getting fx supply abi?
You sef think am na bros.
How it works I'd DG can say we want xyz amount of fx over xyz time frame,paid to xyz supplier(credible) overseas.DG pays in yhe naira and CBN pays the supplier overseas for the equipment the $ equivalent.All these have papertrail,someone should expose it and not beer parlour talk abeg.

membranus:
So to you, being smart or being big like Dangote is for you to hike the prices of your goods to the detriment of your customers in a poor economy like Nigeria, just because you are besotted with declaring excessive profits to prove that you are a brilliant and invicible business man? That's evil.

You said I shouldn't mention Ibeto or BUA or Honeywell? why shouldn't I? When their angst against Dangote threatening business practices has been of public knowledge for many decades. Practices that cheat poor customers, government and competitors, and that deny the general public of due taxes needed for development.

Dangote is a cheat, a money glutton and a wicked glory seeker. I wish Tinubu would have the guts to clip his greedy wings.

Remember,you don't just hike the price because you want to.
You have to own majority of the entire supply to be able to control price point in the markets,so to you,does it take a dunce to be able to control supply in a market?Do you know what it takes to acquire the capacity to be able to mop up/own an entire/majority supply in a 200m people market ?You think a fool can do that?
There's nothing illegal about milking your customers if you can,afterall it's a free market,you can always get from the competition.But of course my competitors can't supply you cause they can't fill up the supply volume I offer you so you'd always come back to me and buy at my prices after my weak competitors have exhausted their meagre supplies .
Bleep the customers,Bleep the consumers,Bleep the distributors,Bleep morality
What matters is profits,EOD.
You can all see BUA that put ex depot prices at N3500 and yet prices are yet to reflect on the streets because the volumes to actually crash street prices aren't there because distros will simply mop up all he's got to offer at 3500,hoard and maintain old price,rinse and repeat.This wouldn't happen if BUA can oversupply and flood the markets,
Abi where distributors want see money and warehousing to mop up and hoard 60MMTPA capacity of cement if BUA could achieve this? Business isn't black and white dear friend.
That means he just enriched middlemen and made no effect on consumers asides media parade,
Again Bleep the customers, its business.

membranus:
Nevertheless, you can't deny that Dangote is being given unequal, under the table, government favours in terms of easy access to foreign currencies below normal rates, and tax holidays of almost ten years for most of his start ups. Also government helps in bullying other competitors for him to achieve monopolistic dominance.

With their tight antitrust laws, how many developed countries do that?

If CBN doesn't give DG unfettered access to fx,who then will they now give? Plastics 40ft Chinese knock off importers?
You can't prove CBN sold fx to DG at less than official rates so drop it.
With scale comes power to bend rules to your favour in forms of tax holidays,breaks and waivers.
Even traders like myself that have scaled up sometimes clear the markets of choice products and cause artificial scarcity by sheer Purchase order volumes and hike prices afterwards,then imagine what now happens in you have the firepower of Dangote Group?It's not out of place oga,the world isn't suppose to be fair.Go big or go home.
There's nowhere government bullied anybody out of business because of DG,don't even bring up the boring Ibeto story.
Dangote is just smarter than everybody else,it's that simple.

soccerlite:
Dangote coy trailer will kill and maim people nothing will happen

Dangote coy products will never take responsibility for financial, standard issues

No compensation no sanction

No court will get just for the victims

Why won't he use criminality and injustice has selling point for potential investors

Nobody that knows their onions will pay you because their vehicle killed you on the road,that's why insurance exist.

bro4u:
Dem no born dangote noodles to compete with indomie

Why should a company that owns a great percentage of the cement market share and largest product capacity in Nigeria be fighting for market share to sell noodles with another noodle company that has more capacity and market share than it does ,when noodles isnt their priority revenue source?
Doesn't common sense tell you it's time to abandon ship and focus on the ones they're already good at?Does that make them failures?

FireUpNow:
We know but most foreign companies are folding up, eg GSK etc. Dongote has monopoly of some products and he is rolling with the govt to reap off Nigerians so he can talk thos way. Ok oo

Name one product Dangote has monopoly in and win 50k,
One product!

zed7:
Obviously not speaking for the small businesses and even the big businesses folding up daily.

He's speaking for himself. Imagine getting dollar from CBN at 120 naira, far below the official rate and then cashing out by selling to their BDC companies.

Indeed it's a fantastic country for making quick returns when you're in the corridors of power.

Use to think you were smart,never would I have thought I'd find you in such pettiness.
You think a group like DIL will round trip dollar when they have machines and equipment worth multi billions of dollars to import to complete their refinery?
What now do they do with the so called naira gains they made from round tripping?
Maybe you think Dangote is still looking for Duplex money,
Clown.

valarinz:
Of all 3 cars mentioned inside the quoted area, that GLA 250 is still the better suited for the racing than the more boxy and taller others you mentioned

If you jam someone like me in that GLA 250, I'll definitely outpace you inside that your Highlander. There's lots to do with racing in these cars than just checking hp ratings of the cars on Google

Bro,in a straight line battle I'd destroy you in your GLA no cap.
But then I'd not do so well at corners.
But again,the time I gain destroying you in straights will make up for lost time at bends,making me still beat you.
You need to see how this thing roars and how fast its gear changes,
A gla250 stands absolutely no chance.

9icetoo:
Na people like am dey lay credence to the fallacy that all things "Benz" dey speed well.

E carry sick highlander dey complain say GLA250 pass am. Say vehicle wey weigh pass 2000 kg be like paper for him hand. There are people who have no business going past 70km/hr in any car whatsoever even i a formula 1 car and he is one of them sadly.

The highlander was not built for speed oo maka ndi speed demons out there. But the V6 can keep pace with just about any regular SUV out there and can outpace most sedans with its powerful 2GR engine (the V6 versions)

Drive safe, stay safe.

Bro,that thing called highlander with 2gr FE dey run wetin no good!kai!
Anybody saying gla250 outpace am with 09-13 highlander either don't know how to drive fast or the car has issues.
I was surprised going to bayelsa when that thing keep up very well with infiniti jx35 with 3.5l v6,the guy tried to gap me no way,before na GLA lol,it was only because I carry women for car and they all started screaming that made me lose the race with that guy.
Funny enough I use to think my Highlander has faults cos it's doesn't pass 180kph but will kickdown and rev high,never knew there was an inbuilt limiter.
And that thing is very stable at speeds too,
Thanks for enlightening me @kingreign.
And I've fixed my parasitic drain issue too,na amplifier been dey do am.

3ice9ce:
Every idiot is now an expert on economic matters.
Why didn't they buy the one CBN released last week that crashed the exchange rate?

No mind the fool,
Ordinary $200m weekly interventions in the parallel market that CBN started in 2017 mopped up all naira in that market,leaving aboki begging to sell dollar at ridiculous prices,e come be $5B.
They sit in their cubicles thinking money is easy.
Only fx backlog that commenced clearing last week Don trigger massive dump and some clown thinks some ragtag cabal have the resources to mop up 5B.
I SMH for the poor thinking individuals that make up Nigeria, 200m worthless unproductive people that can't think to save their own lives,tueh!

reddingtonblack:
You make some points, But the black market can not be criminalize, nothing is wrong with the parallel market except for the players, Nigerians are the criminal everybody wants to make fast money

Besides the official fx window bandwidth is throttled in such a way it can't even meet 40% of our total FX demand, with bearly $3billion in our foreign treasury we can't afford to scrap parallel market.
whatever intervention FG/CBN pumps into the FX market the spectators/sharks are waiting to mop it up in no time, but the govt can bait the sharks to identify them

i think Nigerians need resensitization, the FX window is so saturated with Speculators, if the govt may digitalize the parallel market and set up agencies to monitor inflows & outflows and then go after the criminals.

desperate times require desperate measures if only Govt can prohibit money-stashing it will go a long way to curb "hoarding".

First of all,reserves are way more than $3B.
Secondly,If you take away speculative demand,you'd find out that Nigeria's fx consumption can be very well catered for by the official markets.
Thirdly,if parallel market didn't exist,they won't be sharing inflows with CBN and damaging their fx earning potential.Or where do you think the fx aboki is selling comes from? Those are monies destined for Nigeria but rather than go through official channels, senders will go through aboki cos they'd pay higher.Also if you cancel aboki,where then do speculators get from to hoard?You see na.Then nationalise all dorm accounts,you have no business saving in other currencies in another country,that in itself is speculation.
You're right about digitising fx transactions and cut out middlemen(banks) to starve the parallel market of supply,then start hunting down those bastards cos they'd still find a way to be relevant if you don't use deadly force.
What they need to do is bring the entire naira in circulation to the banking system by any means ,then put stringent measures in place that won't have currency flying all over the place.

pocohantas:
I noticed it earlier. Doesn't mean prices of goods would drop immediately. This is for people that want to go fight traders. They already bought at $/1300. They have to sell off.

Part of the reason it was flying up last 2weeks wasn't organic, but due demand. Maybe japarians and definitely people that wanted to convert their Naira savings to dollars. Everybody would rest small now. Some would still buy the dip sha.

Buy the dip and die lol.
Speculation was what was mostly heating up the parallel market.Its a small market that can easily distort when there's a slight increase in demand.
One permanent solution I propose is to criminalise black market activities and sentence its operators to death by lethal injection if found guilty,
That market shouldn't exist outside entry and exit points and should be controlled with limited volumes.
One of the problems of the naira is greed,even though fx supply was dwindling.
As for Nigerian traders,these unscrupulous elements hike prices anyhow and transfer the cost of their greed to consumers, and corporations aren't free from this either.
The only way out is consumer enlightenment and orientation so they know that they must not die untop one brand cos of name,cos I see that Nigerians are very foolish and have a lot of money to do blind brand loyalty.
They deserve all the pain they're getting as a price of their foolishness and we're not stopping to exploit and plunder their resources for this foolishness anytime soon,
They must Learn.
A simple break in supply chain of a known brand shoots prices up 200% by downplayers in the supply chain,corporations see this ,get greedy and now adjust price and maintains it to tap into this consumer largesse even after fixing supply and bastards from hell are still buying though alternatives abound and later the pigs have the guts to scream inflation.
Stupid little goats.
PS:No importer of commodity bought fx at 1300,take this to the bank and you'll get paid,only essential services and commodity people,then hoarders and backlog people that want to cut their losses and move on from Nigeria were the ones buying at that price.
Where trader see money with his N100m capital that he cant even liquidate all at a go to buy fx at over 200% increase?40ft no go full again na and then logistics cost and customs will further plunder his resources,then how much go come be shelf price? They were seriously waiting for interventions or they end the business
That's why customs was crying that goods no dey port to clear the other day cos niggas Don take backseat.