₦airaland Forum

I dont think we have much to learn from you. In this day and age you must be the only one on the planet who still cant stand up for himself on his marriage choice.

What a fool.

FreeIgboho:
You are talking like someone without sense. You made the football anology, that you can’t use your hands. I told you Just as in this case you can’t kick but “accidentally” throwing your opponent down counts in your favour as the tougher guy.
What do you mean? Not everything you go to court. Does Portable, a gangster, look like someone who calls police or goes to court??

Look at this filthy little twaat. How can accidentally committing a foul count in your favour? Are you making sense to yourself?

Let me guess, you also believe wwe is real? You dont nees to be o nairaland having silly arguments. You need to be reading and getting your empty mind educated!

FreeIgboho:
Same way, you must wear gloves and use your hand not feet. Or did you see Okocha kick him?
The beef was not from nowhere. Portable was bad-mouthing Okocha of being greedy, that he cheated him - collected 50m but gave him only 5m

I don't know what point your making in the first sentence. Of course you must use gloves and similarly, you must not wrestle your opponent to the ground. What's your point exactly??

And yes, the so-called dispute is a work of fiction. Someone is owing you or cheated you of 5m and we don't have Courts again to resolve commercial disputes? It's to resort to boxing abi?

If you lost 5m in a business deal would that be your reaction?



Come off it sir.

StrongAlphMale:
It is clownish because the peace is needed in plateau State were over 120 people were slaughtered at a goal and no arrest has been made yet.

Let Tinubu go and make peace there nau. Very clownish man

So you're happy with the on-and-off killings in the South East?

I really don't want to believe that you are happy to see your home on fire because you feel the firefighter hates you for starting with your house instead of your neighbour's house.

Is it supposed to be offensive to want to end the unrest in the south east? I never see this kind reasoning before.

FreeIgboho:
There were no clear rules and regulations, so on what basis are you deducting anything. Also there was no drug test or Portable would have been disqualified. They were very serious o

Well, that's like saying in street football you can pick up the ball with your hands because there are no clear rules or regulations. There are always some basic rules, and one of those rules in boxing is that boxing is boxing, not wrestling.

As for the rest, well i'd have no real way of proving it for sure, but I mean, I think common sense shows that the invention of a fake beef from nowhere, the organization of a streamed boxing event, are all part of showbiz even if the actual fight was kinda of real.

The real goal here is just to put these two guys in the limelight. You can deduce that from both of their usual behaviours.

FreeIgboho:
I watched that fight closely. I don’t think Portable actually won that fight. You have to consider that Okocha threw him down. Ok, I know it is not wrestling but that has to count for something

Yes...it counts for a point deduction against Okocha. But then these clowns arent being serious. This is just two crazy boys doing marketing.

KayyDee:
So, there's a reason most international organisations tend to avoid stating or overstating the impact of Dangote refinery coming onstream in 2024.

Bear with me and let me try to explain a little.

FIRST OF ALL:
I'm not a pessimist in any way. I'm just looking at the facts.

TRUE FACT:
Dangote refinery will almost certainly eliminate petrol scarcity. That's about it's confirmed and massive benefit.


BOOSTING FOREX?

However, when it comes to boosting Forex or the naira, it's unlikely to contribute any much.

SEE THE REASON:
Remember that as OPEC member, Nigeria has a fixed production quota (we can't exceed that)

Let's just say it's currently 2 million barrels per day.

And let's also assume the current price of a barrel of oil is $100.

SCENARIO 1:
That means at full quota production capacity, Nigeria would earn 2 000 000 x $100 (not all will accrue to FG, but let's ignore that part a bit)

This equates to some $200 million daily.

SCENARIO 2:

Know that local refineries are to purchase crude in NAIRA.

Therefore, if Dangote takes 600,000 barrels daily from nigerias 2,000,000 barely daily production, NG is left with just 1,400,000 barrels to export and earn USD.

Therefore, it's 1,400,000 x $100

Which is about $140,000,000 daily.

From this, you realize that NG has lost $60,000,000 daily FOREX it would have earned if it didn't sell to Dangote refinery.

BUT IT'S NOT AN ISSUE:

So, because of the $60 million forex NG lost to Dangote, Dangote is going to help NG recoup that by NOT spending any extra FOREX to import petrol and other oil, since we now have "full local sufficiency"

Of course, locally Nigeria don't use up to $60 million worth of petroleum products.

So, Dangote will earn extra few million USD from their own export to try and balance everything.

In the end, Nigeria will not be gaining any much extra FOREX.

This is simply because, in helping Dangote to help us reduce demand on FOREX for petroleum products imports, we have to loose some FX that normally accrued from sales of our crude oil in the international market (instead of a mix of international and heavy local market crude sales)

Even if Dangote should buy the crude in USD instead of NAIRA, it will be ultimately the same thing and balances itself out.

IN SUMMARY:

I'm not saying there won't be any FOREX gain.

In fact, there's likely going to be a NET Forex gain.

However, this will be too small to move the niddle any much.

There's a reason most sound economists and foreign financial bodies do not celebrate Dangote refinery as a huge win in Nigeria's perennial FOREX war.

It can only gave a marginal effect.

And to turn around Nigeria's FOREX issues, you don't need just marginal effect. You need to open up a new foreign revenue opportunities that can comfortably give NG at least extra $10 to $20 billion annually.

I hope I've been able to explain this things clearly to you.

Thank you for attempting to explain things clearly to me, however, you've gotten several things significantly wrong.

1. Nigeria currently loses a huge chunk of potential fx income from our crude already since what we have been doing is exchanging crude for refined product. So in terms of fx income from crude sales, allocating the quantity that was previously exchanged for refined product to Dangote and other local refineries means a maintenance of the status quo. Nothing much changes.

But that also means we're not losing fx on transport costs either. So there is a net fx savings simply because we're eliminating transport costs.

2. As you rightly mentioned, Dangote and others will still sell a significant portion on the international market. In fact, because Dangote will be selling refined products, he will be bringing in more fx per ton of products sold than mere crude. There will be significant fx income here to add to the previous fx savings - which are adding up to a reduction in pressure on the naira.

3. There are other factors at play besides oil. While foreign portfolio investment should drop as a result of a negative real interest rate, due to inflation - which is what the Bloomberg article addresses, inflation is beneficial to foreign direct investors who know that their dollar will buy them much more in naira than before. Additionally, with the liberalisation of the fx regime, foreign investors have fewer concerns about their ability to repatriate their domestic income - a significant challenge that affected previous investors, particularly the airline industry. The summary is that losses in FPI will almost certainly be replaced or surpassed by gains in FDI.

At worst, the naira should stay stable but I would bet on it strengthening to 600 - 750 or thereabouts and holding there, with all things remaining equal. Other variables are power, security and political factors.

KayyDee:
So, there's a reason most international organisations tend to avoid stating or overstating the impact of Dangote refinery coming onstream in 2024.

Bear with me and let me try to explain a little.

FIRST OF ALL:
I'm not a pessimist in any way. I'm just looking at the facts.

TRUE FACT:
Dangote refinery will almost certainly eliminate petrol scarcity. That's about it's confirmed and massive benefit.


BOOSTING FOREX?

However, when it comes to boosting Forex or the naira, it's unlikely to contribute any much.

SEE THE REASON:
Remember that

Where is the reason?

Taribizy:
What does the man mean "she is just my baby mama?" They both have a child together and he hopes to just walk away like he doesn't know he is supposed to take care of his daughter? Truth be told the new wife may be laughing now but will be crying soon enough. Baby mama my foot.

Advice to young ladies will be marry first before giving birth to children to reduce headache and stress.

Advice to young guys is if you cannot marry her pls leave her as you met her to live long and avoid curses

Well the morality of having a kid out of wedlock is one thing but if they parted ways in 2017 what right does she have to be angry in 2023?

Bulldozer90:
Assuming the info is correct, Abia the hotbed of Biafra agitation still have more foreign investment than all other states put together excluding Lagos. This also includes all southwest West states with their landmass excluding Lagos.

Not to talk of local investment which is often highest in the East.

You made a valid observation and I thought you were going to make a point out of it - is there something we can learn from Abia attracting investment despite being under the scourge of violent agitation, or was this just a casual boast?

Secondly, I'm doubtful your claim of local investment being highest in the east has any merit. Stats show that IGR in the East is among the lowest, and with the population of SW states clearly there will be more investment there.

But share your source if you have any.

naturalman:
Labour party to the world

Labour party to the rescue
When Alex otti finishes with Abia state, the agbados will know what it means to have Peter Obinna as a mentor

Otti seems to be a reasonable leader and good luck to him but to be fair the people you call Agbados can still proudly boast that Tinubu is the standard when it comes to transformational governorship and mentorship. Whether he can still do it at his old age is another question but indeed, his past results speak for him.

rdokoye:
No nation has ever developed on foreign investment. Domestic investment is most important.

Wrong. The biggest nations in the world developed on FDI - they just did it on their own terms, while we are doing ours on their own terms still.

That said, it is possible for resource-rich countries to develop on LDI so you are still right in that sense.

Ofodirinwa:
Foreign investment = investing while having white skin. Regardless of what the investment is

I am from Imo. My brother-in-Law who is in the US has built a hotel. This is not a foreign investment. If my white neighbor builds the same hotel in the same place, it becomes foreign investment. And the foreign investment is automatically be consider more of a good thing.

When African build businesses in the US and Europe, is it called foreign investment?

Of course it is. Your brother is not a foreigner just because he lives abroad. When he sends money back home it is counted as a diaspora remittance which contributes to what is called Gross National Product ( a close relative to Gross Domestic product).

If a Ghanaian builds a structure in Nigeria that is FDI. Nothing to do with race.

Bulldozer90:
Lol clown

What is clownish about wanting peace in the south east??

DDIA:

Good news for remote workers

I am a remote worker but i refuse to see it as good news. There is no joy in being the only happy one in a sea of misery.

I hope we will also accept positive reports from Bloomberg too?

In any case, I have scrutinised the article and reject its conclusions. The projection of a weak naira is based on a projected inability to attract fresh foreign investment due to inflation.

This will mean a lower or stable inflow of fx.

However, this does not take into account the projected boost in oil exports and elimination of oil imports with the revival of local refining.
I will align myself with JP Morgan's, Moody's, and Bismark Rewane's projection of a strengthened naira in 2024.

Interestingly, Bloomberg has not gotten a single prediction on Nigeria correct - at least, not in the past 12 months.

Jamie1000:
Some part of Nasarawa like Maraba, masaka, abacha road is even closer to Abj Town than many parts of Abj like

Deidei
Kuje
Gwagwalada
Abaji
Bwari
Theses places are up to.1 hour drive to CBD

Okay I get, but to me these places are just the same as living in Nassarrawa/Niger/Kogi and a one bedroom in Bwari or Kuje can't be 500 - 800k. The finest one bedroom in Bwari won't go for more than 450 so I was wondering why you said 500 - 800 and where that could possibly be.

Jamie1000:
800k-1.2m ... if you wish to go further away from town, like 1 hour drive away. it drops to 500k-800k

Are you talking about Nassarrawa? The federal capital territory is not so large like that na. Anywhere one hour away one is already approaching Kogi, Nassarrawa or Niger depending on the direction.

nedekid:
Why do folks say "i base in"?
Can any master of English language confirm it is proper?

Of course it's not but very few Nigerians speak decent English so let it be.

This playlist was curated by some 22-year-old aide.

But those who believe Obama actually listened to these songs, come this way please. I have one or two airports you will really like. Very cheap price!

TheOldGods:
what's rent there like? Do high profile people also live there?

High profile people live almost everywhere but its not about where you live. You kind of need to be introduced by someone in the circle in order to get into the circle.

But you should sha know that hustling rich people in Abuja has casted.

TheOldGods:
Finally, I've decided to do my Nysc. Hurray!!. I've been scheduled to camp at Nysc camp at kubwa and I plan to relocate and stay there hopefully for a while.

I base in Enugu, independence layout which the heart of Enugu, I also need a place that is in the heart of Abuja but with constant or at least 20hrs of electricity. But not too expensive too

Before you say I may no afford rent, I can, I don't want to go into details but, I can do 2.5m for 1bedroom depending on how clean or 2bedroom apartment for a year.

Some people has said Gwarimpa, but do they have electricity?

Abeg help a corper

2.5 can get you a one bedroom place anywhere in Abuja. Try Wuse, Mabushi, Jabi...possibly even a bq in Maitama, Asokoro.

Tonididdyx:
Abuja and light is almost a myth.

Lies. I dont know where you live but there is steady light in the central areas.

FeliciaOja:
I meet him July this year, everything about him is cool. My only worry is his fanatical support for arsenal which I consider the worst club on earth.

He keeps disturbing me of how his club will win the league, but whenever they lose he becomes super depressed and aggressive.

We have talked about this many times and he has sworn to change.
But this night he came back very late and was making so much noise, shouting and yelling
Then I googled scores and saw that his club lost today

I can't take it anymore
He is not the first guy I have dated that loved football. His own is that when his club loss it affects him very bad.

I have even suggested he should stop supporting arsenal but he won't listen.
After this night rubbish he just displayed I'm thinking of calling it quits.

Am I overreacting??

Wait till the meet the ones that support Chelsea. Very lousy, aggressive, heavy drinkers, and above all, they are unfaithful!

My dear any man that supports Arsenal will be faithful, loyal and true. Stick with him!

On a more serious note, when you say aggressive, what exactly do you mean? Is he beating you?

He just wants to put on a show, if not why not ask for 48 soldiers or 48 police officers? What will the DSS do for him that soldiers won't do? Why the need for members of different security services if not to impress abi oppress innocent village people?

If he had no Id on him, how is it known that he is from Nigeria??

Nairaland which way?

A simple thread like this and half of the posts need to be blocked. Later some funny people will go on Twitter to slander Nairaland on the grounds of bigotry, meanwhile, it is ordinary Nigerians who have overwhelmed this site with their bigotry.

Terrible.

emperor4love:
how many are the that run such company, u talk of shareholders, is it in asset or liquidity, una go come online wawawa...as if dem no de

Young man keep quiet. If you need information ask.

1. I said Iyin is personally worth over $200 million. Not Andela or Flutterwave. He individually is worth that much while each of those companies is worth over a billion dollars. Stick to what you understand, instead of mouthing off about shareholders when you barely understand how finance works.

2. The question is not how many people are earning like that. The question is what is the potential of the field itself? If you are talented, tech is an open goal for you.

3. How many Nigerians are making Osimhen money? Even among the lucky few who have made it. Let's take the Super Eagles for example, since logically these are the most successful Nigerian footballers currently. Wilfried Ndid, who should be the actual highest earner makes 75k per week. Iheanacho may make around 40k per week. After that, none will be making more than 20k a week.

The top tech founders, Iyin, Shola, Ezra, and plenty of others, can put these guys on their payroll without losing sleep.

Now those are the few lucky ones who will make it to an A league - less than 30 Nigerians out of tens of thousands struggling to make it worldwide. Let's now reduce it geographically, to just Nigeria alone. How many Nigerians can make it to the NPL which doesn't even pay well? Can you compare that to the number of Nigerians working in good tech companies, working tech departments of non-tech companies or even better, working in medium-to-big sized tech companies remotely, with an average pay between 2k -10k dollars monthly as compared to 150k - 500k in the Nigerian league?

You know nothing about the world.

Can you just think through your arguments before ruining my day with your stupidity?

Goodvibes007:
Killer fulani herdsmen are not on twitter, Facebook or Nairaland. Until the people of the middle belt, especially Benue, Taraba and plateau, come together and copy amotekun template, nothing is likely going to change.

Unfortunately, the Amotekun template won't work here because the assailants are in far greater numbers in the middle belt, and have far most sophisticated weapons.

Unless they middle belters are armed to the teeth, there is no way to match the terrorists physically.They are like sitting ducks.

emperor4love:
de play bigger than footballers as well..tech boys indeed bro

You're not informed.

Iyin Aboyeji of Andela and Flutterwave is worth about 200 million dollars. Shola Akinlade of Paystack is worth about 100 million. US dollars! Which Nigerian footballer is worth 1/10 of that?

Dey play indeed!

Ireportlive:




Entertainment is the new Crude Oil

Money this guys make from streaming is huge



.

Oil tycoons dey laugh you. Entertainment is good but its nothing close to being the new crude oil. Even the big tech bros are way bigger than all these Wizkid them.

Go and verify.

I thought you would have said "black man" replies "white man" who busted him.

Funny guy.