₦airaland Forum

Brendaniel:
Keep doing the wrong things and watch your currency go down and vice versa, good governance is the true value of any country's currency...


That's how you guys keep dishing out nonsense analysis in support of nonsense governance

No sir. Economic activity of an economy determines the true value of the currency of a nation and not "good governance" unless what you mean by good governance is good policies that stimulates economic activity.

Please it's not everyone that is interested in politics as you are.

Ojuntana:
Before Tinubu naira official value was 400/$ while parallel market was 750/$
Can you explain what exactly happened in Nigeria to move the true value from those two to over 1600/$

Just like what is happening to fuel now the exchange rate back then was subsidized. It was fixed by administrative fiat not minding the effect of demand and supply. Now naira is floated which means that demand and supply determines the rate.

Wickedfact:
How much was fuel before Dangote started refining?
How much is it now?
How much is Dangote selling his fuel?

Because Dangote will employ some thousands doesn't mean a Nation of more than 200M should suffer.

Government was subsidizing fuel before DRL produced fuel. Government has said that they will not subsidize again. If they subsidize DRL fuel as they were doing before it will be cheaper than the price before now.

Christ4ever:
Dangote is wrong this. The monopolist wants to weep up sentiments again but this is dead on arrival.

We are not falling for this blackmail. If the inferior fuel has not damaged our engines after years of importation, then it's not about to change now.

Major marketers like Total, MRS, etc. will stop importing the day buying from you becomes less expensive. This is common sense.

How much they sell theirs in the coming days will let us know if both you and NNPC are reaping us.

Your company issues press statements everyday yet you still haven't published how much you sell your fuel till now.

What exactly are you hiding? Why is this too hard for you?

Let them source their fx outside our official sources. The truth is whether the marketers like it or not the game is up. Their taste for importation will only last for months. Their importation has always been a conduit to milk our fx. Why have they not been importing all these years? Why the sudden wake up. Will they create employment like DRL?

Wickedfact:
Dangote should stop crying like a beech. He should man up and face the competition.

This was how he was calling other cements inferior when he launched his 3X cement. Eventually, it was a all a ruse to wipe out competitors.

He wants Mobil, Total other International oil companies to be subservient to him. The nonsense he did to Lafarge, let him try it with those ones and he will see the results.

Nigeria gave Dangote unlimited FX lower than market rates to build that refinery. It is better that the refinery packs up instead of Nigerians to suffer from his unlimited greed.

If he's not careful, those ones will undercut him so bad that he will sell his refinery to those iron condemn boys.

You complain about unemployment all the time. Will imported fuel create employment? DRL creates employment while imported fuel creates employment in the producing country. Which one is better?

Let's get this straight:
Debt servicing means payment of interest and matured principal.

The debts were incurred by previous regimes.

This report shows why there's scarcity of fx. When almost 66% of outflows are used to service debts, only 34% is to meet other obligations. This definitely affects the exchange rate.

The good thing is that the country has capacity to meet her obligations. This will give confidence to creditors and investors.

The current regime must do everything to minimize borrowing so that liabilities are not passed on to future regimes.

AntiChristian:
What does volatility mean?

The swinging i.e changes from time to time shouldn't be much so that planning can be easy. It was too volatile before now.

lonelydora:
Tinubu will handle the economy and Shettima will handle security.

Amoda is confused at the moment.

No big deal. This is the true value of your currency as at now and not the artificial value of the past. What is of utmost importance now is the volatility which isn't much.

okomile:
By reading mama and papa books

It's not true jor..... you practiced. I'll tell auntie

okomile:
Bend down dey

Komot skirt
Bend down

Quikie

Awon randy weere profs

How did you know all these?

Afonjeezy:
Only a simp is sexually satisfied with one woman.

ALTERNATEID:
Arrant nonsense. The only way to put a lie to NNPC’s statement is by coming out clearly and honestly about the price. This press statement is opaque and senseless. Tell Nigerians the exact price if you want to be honest. Transparency is key in everything.

NNPC is the problem here. Remember that transaction between DRL and nnpc is pure corporate transaction between two entities that doesn't necessarily require public disclosure. Why should nnpc rush to make public statement? DRL from grapevine sold to them below nnpc imported cost but nnpc wants to maintain their old price for now.

DeOTR:
Press release to debunk the price quoted by NNPCL but the actual price not stated. Dangote, are you OK?

They are ok. They are being careful not to embarrass nnpc because of the favour of selling crude to them in naira. The price from DRL is definitely cheaper than what nnpc pays for imported products but nnpc wants to maintain their old price to cover their losses.

Very good.... very balanced diet.

Omoawoke:
There’s no way this guy isn’t a broke guy

Like who keeps such dirty beards. I realize that many guys with this kind of beards lack self confidence, they suffer inferiority complex and the best they do is hide under the beards to appear tough.

Among the world billionaires or among the most successful people, who among them keeps beards?
First I wonder what kind of work people like this do? Is he a celebrity, is he a business tycoon? Obviously he doesn’t have a white collar job, so what does he do?



That’s why they were the most evil fictional characters ever created.
Elijah that sent a bear to maul 42 kids and tore them apart like rodents, shameless agbaya
Or is it Moses the murderer? Someone that even slew his own people in the wilderness.
Those people had serious anger problems and were terrorists just like bin Laden. If they had bombs, they would have done worse

Elijah didn't do this. You don't know the Bible

Dreal1247:
Wait until they update you on the new prices of the gas. Cooking gas is now about #1, 300.00 per kg. When the masses might have fully switched over to the gas, that when they create artificial scarcity just as it is with the petrol right now, to increase the price. There is always a calculated attempt to exploit the masses at every opportunity.

CNG is different from LPG

richmond500:
So willing seller willing buyer policy that will attract investors and boost competition will not work again.

It will work but you need this to take off. The system will stabilize.

Lifestone:
NNPCL will buy all the petrol from Dangote and in turn sell to retailers. I suspect NNPCL will do under recovery of cost aka subsidy so the PMS cost will not be over the roof.

Very correct assumption or maybe zero profit for now.

miiraaj:
I still don't understand this arrangement oooo.

Why should NNPC be the sole distributor of petrol from a private refinery of someone you once accused of monopoly in Nigeria, for a product you claim to be fully deregulated?

This whole NNPC-DANGOTE rigmarole raises a lot of doubts, on the intent of this administration in providing affordable petrol to Nigerians.

I think both NNPC and DANGOTE are looking for an exploitative advantage.

NNPC is mandated to supply crude to dangote and accept naira. Hence NNPC is a player in the petroleum products distribution it's easy to pay them back the value of their crude with product. This helps both entities cashflow. Government wants to maintain partial subsidy no matter how small as consumers can't take all the costs for now.

Besides marketers have lodged money with NNPC for months awaiting supplies. NNPC has orders already placed for importation. Maybe they want to blend their cost and gradually either reduce importation or stop entirely.

Dangote equally needs time to source for crude from IOCs so that they will not be dependent on NNPC only.

This initial hiccup is expected as we have not passed through it before and the product in question affects every life.

Overall government must make their refineries to work that is when the market will be fully deregulated and Nigerians fully benefit.

Overall we will come out fine. We are on the right part though very challenging. I'm suffering it too.

Racoon:
It is incredibly stupid and irresponsible that Shettima is out campaigning for the APC gubernatorial candidate who boldly promised Edolites insecurity while the country is still suffering all the gaffes Tinubu @ the central made that Nigerians thought were comical jokes before ascension to government

You have gaffed here too.... Tinubu @ the central

Zonefree:
The lady used him as backup plan.


A lady that can't date you in school but accept to marry you after school is not the right one for you.


They won't teach you this in school.

Correct 💯 guy

This man wise small and people no understand.

Xscape1993:
Nigeria is not a serious country. A country rule by agberos, touts, drug barons, certificate forgers, strangers and unserious people without any economy knowledge.

And the citizens like you have the above characters. It actually takes like to know like. Mtchee

PlayMaker14:
Because of one Incompetent Buffon called Tinubu and the Smeagol looking CBN governor, Ghanians are now having fun of us.


E nor go better for Tinubu and those who enthroned him.

This comment is not necessary. The cedi is artificially valued. Nigeria can do the same without adding value to our economy. Just remove two zeros and that's it. What is the value of Japanese yen, Italian lira, French franc and Chinese currency to the dollar but the economies are still strong.

We should desist from condemning everything about our country. Others celebrate their small yansh but we wey get biggy de condemn. The size of the entire Ghanaian economy at its best is not up to the Lagos economy.

99thEnemy:
Exactly.

They talk about serving God, following Christ.

But being a follower of christ aka being a Christian is living your life christ-like.

“Do unto other’s what you would like them to do unto you.”

“Whatever you do to the least of your brothers that you do unto me”

Etc….

How many times have they fed the hungry, provided shelter to homeless, aided those who are sick or dying and truly need help?

Most of those people called pastors are just businessmen ripping off gullible people using the name of God.

They will should tithe up and down and even use a particular bible verse to blackmail their followers.

In times of need and disaster, you will never see them.

Make I no vex start call the names of some of the major churches and there Pastorpreneur Daddy G. O’s

Fake christians everywhere.

Your own is to insult Christianity, churches and pastors. Genuine once don't engage in unnecessary publicity. A particular large church (I wouldn't mention the name) has pastors dedicated to CSR. Every parish must report their CSR activities monthly else the pastor will be sanctioned. Have you heard them publicize it. Your own is Cho Cho Cho against churches and pastors. Mtchee

Hmm.....the arrestor had been arrested

PHIPEX:
This jobless cameleon again?

Whenever they are unable to find anything on Obi, they will go for those around his circles.

See the names of those who supposedly managed the fund, non is Igbo. Yet, these are the people who accused Obi of being tribalistic.

Obviously, anything Obi is and will remain their nightmare.

We are also waiting for Reno to push his own rubbish propaganda

Igbos didn't manage the fund because they didn't contribute shishi. Nobi traders? Their hands na aka gum.

stano2:
How many times now… I thought Buhari/Tinubu ended subsidy? Moreover are we still importing petrol?

There will always be subsidy so long as crude price increases, the petroleum products are imported and there is exchange rate instability.

santaclaws:
I've said it before and I'll say it again: the worst mistake Tinubu made was floating the naira and removing subsidy simultaneously... No austerity measures, no proper palliatives, he just took the decision first day in office, that was reckless on Tinubu's part!

He should have done either of the two, not both at the same time. This is why the economy is under so much pressure while they are even yet to implement the meagre minimum wage of 70k. Some state govs aren't paying the previous 30k yet, so where are they driving the economy? I bet Tinubu has no idea what he is doing!

Taking the two on at the same was too much for a fragile economy like our own. But the situation was too bad.... overvalued currency encouraging corruption through round tripping and unbridled taste for import.

Subsidy that has eaten up all revenue such that states could not pay bills. Overall it was a messy situation. I wouldn't know what I would have done if I were in BAT's shoes. It's hard to realign the Nigerian economy because there has been distortion for so many years. The former managers were not futuristic.

CodeTemplarr:
Africa and senseless politics. The decision to float Naira shouldnt be tagged Tinubu's policy. It was simply unaffordable and had to stop. Calling it Tinubu's is blaming Tinubu for shortage of forex earning and high Forex demand locally. I dont agree with that.

I wholly agree with you.

iwaeda:
And they told you subsidy is gone. The suffering people are going through is even far above palliatives of 1kg of rice. See how much they have spent. All most N6T, yet we are queueing to buy N1000 per litre Nlfpmod.

This is nothing new. The main goal of devaluation is to make imports more expensive. This should push the nation to produce what they import. The challenge is that we should start producing these products. It's a shame that a crude producing nation has not produced one liter of petrol for the past 28 years. This rascal way of managing our economy all these years has caught up with us. Private investors will not accept to produce products that government regulates the price.