₦airaland Forum

HNICEARTH:
Dey play!
Tinubunomics let the naira breeef

Disturbing.

HNICEARTH:
Dey play!
Tinubunomics let the naira breeef

Hmmm... I need access to that window.

Pease be informed that the naira has officially dropped from ₦756.61 to ₦763.17 during the last 24 hours. The Investors and Exporters FX window, which is the official market for trading the naira, and currently allows free floating of the naira, closed at ₦763.17/$ this evening. You can check it here: https://fmdqgroup.com/exchange/

See the figures for yesterday below:

Seun:
Pls be informed that the naira has appreciated from ₦770.38/$ to ₦756.61/$ during the last 24 hours. The Investors and Exporters FX window, which is the official market for trading the naira, and currently allows free floating of the naira, closed at ₦756.61/$ this evening. You can check it here: https://fmdqgroup.com/exchange/

mediclife1987:
Even abokis would no longer be able to get it at the bank rate they previously got it before sef.

This makes me really wonder how they'll make their profit as bureau de change

Spread. The buying price is usually different from the selling price, and the difference is their profit. So they can buy at 760, sell at 762.

According to Wilson Erumebor, a senior economist at NESG, "the kind of diversification that Nigeria needs is one that increases the actual value of both the oil and the non-oil sectors, but where that of the non-oil sector rises rapidly & faster than that of the oil sector"

In an article titled "Economic Diversification In Nigeria. Why Context Matters" he wrote:

"Many Nigerians have been sold a narrative that the economy is where it is today because of crude oil. Some economists and analysts have argued in support of the resource curse hypothesis. But the fact is this – the problem with the Nigerian economy is not the commodity, because there are countries, whose realities, negate the resource curse argument. The UAE’s creation of Dubai as a major tourism and trade hub is just one example of how oil revenues can spur development in the non-oil sector, provided there is sound economic and institutional management."

"Particularly for Nigeria, we have (1) failed to significantly grow crude oil revenues even when oil prices are high (2) failed to save for the rainy day and (3) failed to use available crude oil revenue to develop critical areas of the economy, as some oil producing countries did or are doing. At the moment, Nigeria is failing to get enough revenue from oil and gas. Crude oil is no longer as important as it used to be for Nigeria and Nigeria keeps losing its relevance in the global oil market. This is not something that we should celebrate, especially because our non-oil sector is not growing fast enough to cover the budget and trade shortfalls, due to a large informal sector and lower productivity, occasioned by a challenging business environment."

https://www.wilsonrume.com/2023/02/16/economic-diversification-in-nigeria-why-context-matters/

So we need to first maximize our oil (& gas) production & then reinvest the revenue from that into other sectors of the economy that can grow quickly & generate high returns. Yes, we all want non-oil revenues to grow, but oil (& gas) revenues must also continue to grow.

chatinent:
"Appreciated from ₦770.38/$ to ₦756.61/$"

🙄

All these virtual card services don't adhere to this.🤦

You can call customer support and show them the link

Pls be informed that the naira has appreciated from ₦770.38/$ to ₦756.61/$ during the last 24 hours. The Investors and Exporters FX window, which is the official market for trading the naira, and currently allows free floating of the naira, closed at ₦756.61/$ this evening.

You can check it here: https://fmdqgroup.com/exchange/

airsaylongcome:
Make me understand the problem building a refinery near the sea. Aren't the Warri and PH refineries near the sea?

pollution probably

Mynd44 what is going on here?

He's a fintech bro, guys. An engineer. You can trust engineers to learn whatever they need to learn to perform and make logical decisions.

MT:
If only Sanusi Lamido can come back to function as the CBN governor. SLS, your country needs you right now!

We can do better than SLS. Don't forget why Jonathan removed SLS. He's insubordinate. And he left economics for traditional leadership for several years. I vote no.
Bismarck Rewane is a better choice. He is not only a good analyst but a good teacher who can explain to politicians how the economy works so they don't make stupid decisions like Buhari made for 8 years.

Nigerian businessman Dozy Mmpbuosi, founder of American-based Tingo Group Inc, which is listed on NASDAQ as TIO, is a scammer. This was revealed by Hindenburg Research, an American forensic finance firm, which shorted the Tingo Group Inc's shares after an extensive investigation which included visits to the company's offices and facilities in Nigeria. Read their report here.

Key Revelations:

In 2017, Dozy was arrested and faced an 8-count indictment over issuance of bad checks, according to the Nigerian Economic and Financial Crimes Commission. He later settled the case in arbitration.

In 2019, Dozy claimed to have launched “Tingo Airlines” and posted social media messages encouraging customers to “fly with Tingo Airlines today”. Media outlets later uncovered that Tingo had photoshopped its logo onto pictures of airplanes. Dozy later admitted to never owning any actual aircraft.

In February 2023, the company held a groundbreaking ceremony for a planned $1.6 billion Nigerian food processing facility of its own, attended by the country’s agriculture minister and other political luminaries.

We found that the rendering of the planned facility, featured in Tingo’s investor materials and on a billboard at the ceremony, is actually a rendering of an oil refinery from a stock photo website.

Following its groundbreaking, Tingo reported in a May 2023 SEC filing that it made “significant progress” on the facility, including laying “the foundations of its numerous buildings”.

We visited the site a week later and found zero signs of progress; it was empty except for the plaque and billboard commemorating the groundbreaking ceremony, surrounded by weeds.

Tingo claimed that members of 2 unnamed farming cooperatives supply the majority of its then 9.3 million userbase, consisting of local Nigerian farmers. These farmers supposedly form the core of the company’s phone customers and provide the agricultural products used in Tingo’s food processing and trading businesses.

A local media outlet identified and contacted the cooperatives. Both said they had never heard of Tingo and had fewer than 100 farmers in each cooperative.

We were able to make contact with one of the cooperatives. Its owner reiterated having no relationship with Tingo and flat out told us “they are scammers”.

Tingo claimed its mobile handset leasing, call and data segments Tingo Mobile generated $128 million in revenue last quarter (~15% of total), claiming these services are provided through an agreement with Airtel (which Airtel has denied) in Nigeria. The type of license they claim did not exist until June, 2023.
Our checks with the Nigerian Communications Commission showed it has no record of Tingo being a mobile licensee at all, despite company claims of having 12 million mobile customers.

TingoPay (part of Tingo Mobile) claimed in 2021 to have launched a partnership with a Stanbic IBTC Bank
Two days after Tingo’s blockbuster announcement, Stanbic IBTC Bank put out a statement calling Tingo’s claim false and that it had “NOT concluded any agreement with Tingo International in respect of any payment system whatsoever”.

In a May 2023 press release, Tingo claimed its brand-new agricultural export business, Tingo DMCC, was on track to deliver over U.S. $1.34 billion in exports by Q3.
Tingo’s sales projections for that business are higher than the entire nation of Nigeria’s annual 2022 agricultural exports, which totaled about U.S. $1.15 billion, per government data.
Despite Tingo’s bold claims, we found no import/export records from Tingo at all through searches of Nigerian customs and trading databases.

Hello Everyone,

About 3 years ago I rescued a GSD whose owners didn't want anymore. Perfectly healthy afaik but had become aggressive to their main dog. A few months ago he suddenly stopped eating his food. He ate with great reluctance. He would not eat more than a can of canned food. Somedays he would eat 2 and then vomit. This went on for weeks as he lost weight. He became really skinny.

Somewhere along the line I tried antibiotics and discovered that after taking doxycycline he ate normally. So I was trying to build up his weight again. But whenever I would stop the antibiotic, he would vomit the next meal. After some time, he started limping on a leg that he had been scraping when he went to hide under my car. It was bleeding infected, so more antibiotics. The limping stopped.

But then, he started getting weaker and weaker. Vomiting his food constantly. Struggling to stand. Walking like an elderly dog. He started rejecting foods he liked before. And what he accepted and ate would end up scattered all over the house at night. He got skinnier and skinnier.

So I told a vet in my area about everything. The vet noticed he had developed jaundice and jumped to the conclusion it was caused by antibiotics. He also queried the protein level of what we were feeding him saying that the dog's pee is too yellow. He prescribed augmentin, which is an antibiotic, livoline, vitamins, etc. The dog kept vomiting yellow liquid with brown particles everyday and not eating. I asked the vet for something to prevent vomiting. The vomiting stopped but one day he got a lot of chicken and vomited it mostly undigested. His poop which was normal initially became black and nasty. His vomit stinks very uniquely.

The problem is that the dog is getting weaker and worse. He vehemently rejects anything except chicken which is pure protein. I've tried force feeding him a couple of times with a syringe (pap, glucose) but it's exhausting cos he's struggling the whole time and it's messy and slow. Since yesterday he doesn't seem to get up anymore. He lies on his side and scoots to a new position after wetting himself. If I don't bring water to him and encourage him to drink he won't drink. He doesn't raise his head anymore when he is approached.

I don't know what to do anymore but I can't let the dog die or be permanently unable to function. I don't want to end up having to pay the vet to euthanize the dog after paying him to help the the same dog. I know he needs to be forced to eat just to remain alive without improvement. I did my best today but there have been days when I barely fed him. Feeding a dog pap with a syringe is hard. The vet doctor says he thinks recovery will take a long time but he was supposed to improve a little bit after the medications and I have seen no improvement whatsoever.

I have decided to swallow my pride and ask anyone who has an idea of what to do to tell me. If you've experienced challenge & prevailed.

arejibadz:
but why must we be importing petrol can't we make way for refineries

otomatic:
I don't like that part part on importing fuel. It puts so much strain on our scarce FX. Or will the companies source their own FX?

jmoore:
Dangote will start supplying on July and you want govt to issue licences for others to import.

I suggested that govt should license at least 50 companies to import petrol in spite of the existence of the Dangote refinery because I don't want Dangote to have a monopoly on petrol in Nigeria. I want Dangote & importers to compete on price. Competition is very important.

As Rotus explained on AriseTV, Tinubu's inauguration speech was very good from a business POV. It 'Renewed my Hope' & made me start dreaming again.

However, PBAT's silence on the current fuel scarcity is alarming. His team should be telling him to complete subsidy removal ASAP.

Then Mr. President will be able to boast of having hit the ground running - by removing the subsidy that leaders have been trying to remove for several decades within his first days in office. The hardship we're currently facing will be the last that we will face.

If Mr. President backtracks, then his bold proclamation on fuel subsidy removal will be seen as a costly blunder that bodes poorly for our future under him. He will be prolonging the suffering of Nigerians who are currently experiencing scarcity. They will experience it all over again when he finally removes the subsidy.

The president has an opportunity to get to the finish line of petrol subsidy removal before those who would oppose it can even start organising their resistance.

All he has to do today is empower filling stations to price their petrol based on demand and supply, just like diesel. Then he should instruct the NNPC to announce that they will distribute fuel at the landing cost since the subsidy is gone. Fuel scarcity will disappear.

After the subsidy is gone, the poorest of us can be helped using a Rapid Response strategy. We can identify those who are struggling the most with subsidy removal & use the funds earmarked for subsidy payments in June to provide short-term assistance to them.

Later, Mr. President also needs to license at least 50 capable companies to import petrol into the country alongside the NNPC, duty-free. Their competition and duty exemption will prevent unsubsidised petrol from becoming too expensive.

This will be a big win for Mr. President if played right.

May Edition

Raising a child in the way of the Lord is a possible task provided we are equipped with the right knowledge to do so.

Join us in this month seminar as we explore Parenting Styles That Work. We believe there is always a style that you can use to raise your child to be the best.

See details of the event below:

👉 Venue: ZOOM (link: SUREHOMEONLINE)
👉Meeting ID: 83999692719
👉Passcode: SUREHOME
👉 Date: Sunday 28th, May 2023
👉 Time: 6:30pm (Nigerian Time)

Kindly help share with Friends & Families

Lalasticlala is NlFpMod. For reasons best know to him, which I don't understand, he said he didn't want to post political topics with his account.

cgniyi:
Apparently, you are allowed to sit. Hilda only found out after.

Dang. She could have done more hours if she knew.

Holuu:
21 days,no fertilizer applied

Maize responds very well to fertiliser and irrigation. It will take off as soon as you provide the two. Want to open your own thread?

Test.

Looking to take the pornographic ones down.

This may be the beginning of the end for the practice of police officers slapping citizens. Now that someone famous is being prosecuted for a mere slap, the police will have no choice but to discipline the next police officer caught on slapping a citizen on camera. The public outcry will compel them.

Truvelisback:
The Chrome I have is displaying mtn annoying pages.

Send screenshots.

Sorry guys...

Forgiveness is a needed response to apology in our marital relationship. This gives anyone a good step forward in the journey to reconciliation after a marital issue.

Join us for an Online Marriage Seminar of The Sure Home Family Forum with Daddy & Mummy Osewa

See details of the event below:

👉 Venue: ZOOM (link: SUREHOMEONLINE)
👉 Meeting ID: 839 9969 2719
👉 Passcode: SUREHOME
👉 Date: Sunday 30th, April 2023
👉 Time: 6:30pm (Nigerian Time)

Kindly help share with Friends & Families

Theicecode:
E no go pass Lekki, I paid almost 3 million for a 4 bedroom duplex in Lekki few years ago and when rain started my properties worth millions of Naira almost got destroyed. nobody told me to run away before I did and I made sure I collected my money from the untrustworthy agent that lied to me.

Where did you move to?

He has been banned. I hope he faces justice.

I agree with you now.

👀

She really suffered for so long for no reason. I'm sad and happy for her.

sirrotex:
Hopefully it will get to 15%

I decided to bid 12%.

What's happening this week? What rate are the 364 day bonds likely to have?