Paraman:
Cardoso is doing well. The naira will strengthen against the dollar again very soon

Them dey double the dose of cocaine una dey sniff now?.

The refinery will be more efficient. If govt runs it, because the spares are imported with dollars, the refinery will be very inefficient due to corruption

Donaldoni:


Even if you sell the refineries, the new owners will not want to run at a loss

You think producing few million liters per day will compensate for the reduced agricultural outputs due to insecurity?

Paraman:
We're just starting.

DMerciful:
The refinery will be more efficient. If govt runs it, because the spares are imported with dollars, the refinery will be very inefficient due to corruption

Whether, privately or publicly run, nobody wants to run at a loss.

How do you mean run at a loss?

Donaldoni:


Whether, privately or publicly run, nobody wants to run at a loss.

DMerciful:
How do you mean run at a loss?

The rates when Tinubu took over were not anywhere near realistic - from the dollar to the PMS etc etc

DMerciful:
You think producing few million liters per day will compensate for the reduced agricultural outputs due to insecurity?

NNPCL will stop the importation of refined crude this year

We spent about $47 billion dollars on importation last year, once NNPCL stop importing this year, we will be saving at least $15 billion.

Imagine the kind of releave this will be on the naira. When the naira start gaining more value cost of goods and services will fall.

Thats not running at a loss but wthere there is subsidy or no subsidy

Loss is, if you put $1 million dollar worth of crude plus $10,000 operational cost and you get less then $1,010,000 as revenue. I'm saying if the govt decides to run the refineries themselves, they'd put $1,010,000 and get $200,000 as revenue.

Again, don't confused subsidy/no subsidy with operation losses of govt running a company

Donaldoni:


The rates when Tinubu took over were not anywhere near realistic - from the dollar to the PMS etc etc

It also means you won't have that equivalent crude to sell so your forex earnings will reduce. While there'd be savings, its not just addition and subtraction

Paraman:
NNPCL will stop the importation of refined crude this year

We spent about $47 billion dollars on importation last year, once NNPCL stop importing this year, we will be saving about $20 billion.

Imagine the kind of releave this will be on the naira. When the naira start gaining more value cost of goods and services will fall.

DMerciful:
Thats not running at a loss but wthere there is subsidy or no subsidy

Loss is, if you put $1 million dollar worth of crude plus $10,000 operational cost and you get less then $1,010,000 as revenue. I'm saying if the govt decides to run the refineries themselves, they'd put $1,010,000 and get $200,000 as revenue.

Again, don't confused subsidy/no subsidy with operation losses of govt running a company

What are you saying now

Donaldoni:


Full local production of petroleum products will strengthen the Naira in the long run once and for all.

Relax!

They couldn’t wait till that happened before “floating” it?

Nigerians have to suffer till whatever that time is?

They ended up achieving nothing since they’re still paying higher subsidy and even depleting the foreign reserve more?

What manner of chartered accounting is that?

Why are there BDCs

Paraman:
Cardoso is doing well. The naira will strengthen against the dollar again very soon

Shey?

At least make the naira rest back small for the one wey e don strengthen. Yeye dey smell.

DMerciful:
It also means you won't have that equivalent crude to sell so your forex earnings will reduce. While there'd be savings, its not just addition and subtraction

Dangote and PH refinery won't be giving crude oil for free

Looks like it's over for voodoo economics.

When Aisha Yusuf said hold your Dollar close they were calling her all sorts of names ... tufiakwa I'm tired of this Country called Nigeria how do we resolve the existence of this Country so that everyone go dey him dey why would you as an individual knowing fully well how the masses are suffering you still have the guts to defend this criminals in power nawa ooo

Nbote:


The problem wasn't even the float. The problem was the fact that they floated and then reversed the float by defending the naira with subsidy. The BDCs were simply collecting the forex and stocking up because clearly it wasn't going to be sustainable.

Finally someone who knows what he is talking about

Donrissy:



Shey?

At least make the naira rest back small for the one wey e don strengthen. Yeye dey smell.

Abi ohh lol make he sleep first and maybe drink stout

BrodaBenad:
So who are they going to blame now?


Don't float Naira you horridly went and float it now

and agbado people defended it with all thier might.

Now we are paying more in subsidy due to naira devaluation

We've also dropped to 3rd place in Africa


they'll still come here and defend again watch

This one is back from sabbatical

I just dey Look Tinubu and his team of Lagos magicians.

Hold ya dollars tightttt

StarRida:
When Aisha Yusuf said hold your Dollar close they were calling her all sorts of names ... tufiakwa I'm tired of this Country called Nigeria how do we resolve the existence of this Country so that everyone go dey him dey why would you as an individual knowing fully well how the masses are suffering you still have the guts to defend this criminals in power nawa ooo

They think economics and emotions mix.....

Okoroawusa:

This one is back from sabbatical

nairaland mods don show me shege swrs

Donaldoni:


Full local production of petroleum products will strengthen the Naira in the long run once and for all.

Relax!

When thousand barrels of Crude oil are been stolen monthly
Insecurity is preventing farmers from going to farm

Dey play just dey play!

Nlfpmod, wetin dey happen.

If the IMTOs keep changing #1,098 naira to $1 dollar for Nigerians, it will force many to seek alternative ways of sending money. Which will drastically reduce the dollars access to CBN.

I hope the CBN forces the IMTOs to give Nigerians a fair exchange rate to keep alternative competitors from offering very good rates to Nigerians as it happened in the past.

Terrible.

Cindypresh:


You've been saying this for the past 8yrs under buhari... propaganda no dey tire you


You people killed this country

Reality always trumps their propaganda

Nawa oo.