Truly.

Not only that, but, maybe for the first time, we can earn true forex from crude export. Because, before now, we sell crude, "earn forex", borrow more dollars with the so called "earned forex" from crude, and use it to import petroleum products and pay subsidy. Was that one earning forex?

megawealth01:


https://www.vanguardngr.com/2024/09/tinubus-naira-for-crude-policy-will-slash-forex-demand-by-40-dangote/

Tinubu’s Naira-For-Crude Policy Will Slash FOREX Demand By 40%

olig:
Truly.

Not only that, but, maybe for the first time, we can earn true forex from crude export. Because, before now, we sell crude, "earn forex", borrow more dollars with the so called "earned forex" from crude, and use it to import petroleum products and pay subsidy. Was that one earning forex?

Alhaji will still have war to fight in this direction as time goes on

You are absolutely correct. But, controlling prices does mean abnormal prices and hardship that we face today. Again, use that cement as an example. If we are still important in the face of the current devaluation. Someone was lamenting days ago on Facebook that is ordered/bought an IPhone (I don't know which one) and had to pay over four hundred thousand naira as custom duties on it.

Also, another thing: before we condemn Dangote for selling cement cheaper in other countries, find out why Samsung is cheaper in Nigeria compare to Korea. Same reason why Chinese will sometimes subsidise her exporting companies. At least, let him keep the jobs for us. This game is not easy globally.

ojeysky:


You really believe that to be one of his aim? A business man like Dangote would aim to control pricing like in other sector he is in. Not judging him though he is a businessman

I tell you.

megawealth01:


Alhaji will still have war to fight in this direction as time goes on

https://punchng.com/petrol-will-be-exported-if-marketers-boycott-product-dangote-refinery/?amp

Petrol Will Be Exported If Marketers Boycott Product — Dangote Refinery

megawealth01:
https://punchng.com/petrol-will-be-exported-if-marketers-boycott-product-dangote-refinery/?amp

Petrol Will Be Exported If Marketers Boycott Product — Dangote Refinery

And the war continues. I just hope they won't want to frustrate Alhaji

Onyinye Blulaba dika onyinye Mamiwota.. Wete isi bia we re isi?

The other news says they are jacking up VAT to 10%

They allowed Oando to closed at 91 today so that from tomorrow it will be round figure 100,110,120,1750.... Chai

naturalflow:
They allowed Oando to closed at 91 today so that from tomorrow it will be round figure 100,110,120,1750.... Chai

Lol!
That is what you wish to happen.....even up to N1,750! Clever guy!
Let Oando breathe!

megawealth01:
Onyinye Blulaba dika onyinye Mamiwota.. Wete isi bia we re isi?

The other news says they are jacking up VAT to 10%

Let Nigerians breathe don't suffocate them

megawealth01:


Let Nigerians breathe don't suffocate them

Una never know how far ....we want to build Nigeria with the Lagos model

I'll help you (a little)

1. Nigeria spends an estimated $10billion annually on round trip of refining petroleum produce.
2. Nigeria spends an estimated $7billion annually on subsidizing petroleum produce because of #1.
3. DR will bring much needed FX through export of petroleum produce.
4. Nigeria spends billions on fertilizer imports yearly. At about 3MT/year, DR will satisfy local needs and still have enough for export.
5. DR currently exports most of their aviation jet fuel and diesel.
6. The burden on our Excess Crude Account will be reduced...

If all those needless imports are removed (or reduced by over 50%) the improvement will be very visible...

Laso09:


I still cannot see how a fully functional dangote refinery will improve our fx significantly.

Sense..

naturalflow:
They allowed Oando to closed at 91 today so that from tomorrow it will be round figure 100,110,120,1750.... Chai

Laso09:


I still cannot see how a fully functional dangote refinery will improve our fx significantly.

it will at best stabilise the currency

that's what we need right now
stability
dramatic improvement is far fetched

KarlTom:
I'll help you (a little)

1. Nigeria spends an estimated $10billion annually on round trip of refining petroleum produce.
2. Nigeria spends an estimated $7billion annually on subsidizing petroleum produce because of #1.
3. DR will bring much needed FX through export of petroleum produce.
4. Nigeria spends billions on fertilizer imports yearly. At about 3MT/year, DR will satisfy local needs and still have enough for export.
5. DR currently exports most of their aviation jet fuel and diesel.
6. The burden on our Excess Crude Account will be reduced...

If all those needless imports are removed (or reduced by over 50%) the improvement will be very visible...

Will it cub corruption?

olig:
You sure?
With NNPC as the sole buyer/distributor/monopoly?

How I wish we can get rid of NNPC totally in this matter. Let them just wait for the reward of their 7.5% stake

DR will have a measuring scale.
If it doesn't match what NNPC says it distributed to the masses, especially when queues surface in future.
NNPC go explain where it hoarded the rest..
So NNPC can't be the sole Tracker

chimex38:

DR will have a measuring scale.
If it doesn't match what NNPC says it distributed to the masses, especially when queues surface in future.
NNPC go explain where it hoarded the rest..
So NNPC can't be the sole Tracker

That's exactly why I like the initiative...

I trust Alhaji to speak up when the government wants to cow him

Ginalex:
Please I've decided to open a 2nd STB account with Morgan capital.....But I want to confirm some things.

1. Can I fund my account via their app and withdraw same without needing to send mails for my mandates to be executed?

2. The Brokerage commission, which is the major incentive for my opening an account with them, is it still 50 bps (I was told it was 50bps last year when I made my enquiries)?

3. Will using the same CHN on my first account help with consolidation should I decide to buy shares of one company in both accounts? Especially for dividend purposes?

4. Do they offer margin facilities?

I'd really appreciate responses to the above. @yMyc56 abeg help me

Q1: Morgan did not have an App, but you can fund your account from your Bank App and it will be credited to your trading portfolio in minutes, without sending any mail.
* Just ensure to always quote your CSCS number for any transfer or deposit made.
* To make withdrawal, simply login to your Morgan Capital portfolio and click the "ATM -Withdrawal" button on the drop-down menu......fill the amount you wish to withdraw and submit. You'll get your fund into your bank account before close of biz same day.......the rule is that, you cannot withdrawal same day you make sales.

Q2: Brokerage commission is still 0.50%. Remember there are other fees aside broker's commission.

Q3: Yes. You can use same CHN

Q4: No. Morgan does not offer margin facility for now.

RodgersAkpafu:


it will at best stabilise the currency

that's what we need right now
stability
dramatic improvement is far fetched

Fixed. Stability at least.

Owoblowblow:
Oga Osita, I hope you are doing fine.
I beg free aunty Mercy. Many of us are fans of your posts and you come across like a clever dude but you recent posts pertaining OandO and aunty Mercy just be like say you get something to grind.

Lol. Don't mind Osita, I don't know what's heating him up.
I've even ignored him, if the vawulence makes him happy, let him enjoy. 😁
One thing I know is that I've not had any kind of communication or chats with him outside of here, lest anyone would think there's something hidden. 😊
Thanks bros.

Agbalowomeri:


It was a poor judgement to fight subsidy and naira floating at the same time. One depends on the other.

This is the crux of the issues we are facing today. As Nigerians, I think we are just too emotional to critically analyze our problems and come up with the most cost effective solutions.

Before the elections, there was a consensus across the nation - politicians, economists and virtually everyone loudly agreeing that subsidy must be removed and the exchange rate dichotomy be abolished. We were all too emotional and short in thinking to consider what the combined effects of these would be on the pockets of the avaerage Nigherian.

We are a nation dominated by low income earners. How we thought subsidy to be evil and agreeing for politicians to do away with it needs to be studied. They told us subsidy removal would cub petrol smuggling. What is petrol smuggling if not a failure of the state to man its borders and protect its economy? As citizens, we allowed politicians to blame us for their failiure thereby passing the consequences of this failure on us.

Nigeria is in a very serious state at the moment and there seems to be no respite in sight. Anyway, thanks to OANDO for this past few weeks. long may it continue

yMcy56:

Q1: Morgan did not have an App, but you can fund your account from your Bank App and it will be credited to your trading portfolio in minutes, without sending any mail.
* Just ensure to always quite your CSCS number for any transfer or deposit made.
* To make withdrawal, simply login to your Morgan Capital portfolio and click the "ATM -Withdrawal" button on the drop-down menu......fill the amount you wish to withdraw and submit. You'll get your fund into your bank account before close of biz same day.......the rule is that, you cannot withdrawal same day you make sales.

Q2: Brokerage commission is still 0.50%. Remember there are other fees aside broker's commission.

Q3: Yes. You can use same CHN

Q4: No. Morgan does not offer margin facility for now.

Please for the bolded, how then would I have access to real-time online trading if they don't have an App?

Ginalex:
Please for the bolded, how then would I have access to real-time online trading if they don't have an App?

Just access the website thru a browser to login......Google Chrome or any other good/secure browser.

https://itrade.morgancapitalgroup.com/

https://itrade.morgancapitalgroup.com/customers/wa/

yMcy56:

Just login to the website thru a browser.

https://itrade.morgancapitalgroup.com/

https://itrade.morgancapitalgroup.com/customers/wa/

Thank you so much sis

naturalflow:
They allowed Oando to closed at 91 today so that from tomorrow it will be round figure 100,110,120,1750.... Chai

Expect full offer tomorrow.

Agbalowomeri:


It was a poor judgement to fight subsidy and naira floating at the same time. One depends on the other.

However, not allowing the naira to float would have required subsidizing the exchange rate using borrowed funds

MARKETJJC:



we told them, ETERNA will be moving as long as Oando dey move, then now with increase in PMS, more money for us. People crying dumping will not come out now

See this our GenZ brother with the mind of a BabyBoomer. 😂

The liver wey you dey chop no be ordinary pallette dey taste am. 😂

Ginalex:
Thank you so much sis

You're welcome.

Btw, it seems Mankind2024 has been banned again.....
The b.o.t. is vexing. 😊

Pesuzok:
Expect full offer tomorrow.

Dey don come again....😊

GeeKudi:


This is the crux of the issues we are facing today. As Nigerians, I think we are just too emotional to critically analyze our problems and come up with the most cost effective solutions.

B[b]efore the elections, there was a consensus across the nation - politicians, economists and virtually everyone loudly agreeing that subsidy must be removed and the exchange rate dichotomy be abolished[/b]. We were all too emotional and short in thinking to consider what the combined effects of these would be on the pockets of the avaerage Nigerian.

We are a nation dominated by low income earners. How we thought subsidy to be evil and agreeing for politicians to do away with it needs to be studied. They told us subsidy removal would cub petrol smuggling. What is petrol smuggling if not a failure of the state to man its borders and protect its economy? As citizens, we allowed politicians to blame us for their failiure thereby passing the consequences of this failure on us.

Nigeria is in a very serious state at the moment and there seems to be no respite in sight. Anyway, thanks to OANDO for this past few weeks. long may it continue

Where and when was the so-called ''consensus'' held virtually with ''everyone'', and with whom?. I did not give any consent to any useless subsidy removal and floating of the Naira.
Only a foolish president would just wake up and direct its central bank to float its currency overnight, without any stakeholder consultation or engagement. It boils down to the empty arrogance of the Tinubu govt who thinks he is super clever,
Why? Is Tinubu more intelligent than previous presidents/govts. that refused to float the naira or what does he think he is?.
Disaster is what happens to any country, African for that matter, that decides to float its currency in an import-dependent economy.
You first said, ''subsidy is gone''. then you went back to devalue your currency when you know that we import fuel into the country for virtually everyday use. Common sense should tell you that the best thing is to manage the exchange rate and never to allow the artificial, invisible hand of 'free market'' to dictate your exchange because that is recipe for disaster for an import dependent country

Pesuzok:


Expect full offer tomorrow.

Price might drop , but it will never be full offer. Oando fit wan rest small to drink water before phase 3 start

When volume and price moves the way Oando has done , it is likely very many people are thinking medium/long term

yMcy56:

Q1: Morgan did not have an App, but you can fund your account from your Bank App and it will be credited to your trading portfolio in minutes, without sending any mail.
* Just ensure to always quite your CSCS number for any transfer or deposit made.
* To make withdrawal, simply login to your Morgan Capital portfolio and click the "ATM -Withdrawal" button on the drop-down menu......fill the amount you wish to withdraw and submit. You'll get your fund into your bank account before close of biz same day.......the rule is that, you cannot withdrawal same day you make sales.

Q2: Brokerage commission is still 0.50%. Remember there are other fees aside broker's commission.

Q3: Yes. You can use same CHN

Q4: No. Morgan does not offer margin facility for now.

@yMcy56...our in-house data base, you are doing a Yeoman's job!
Please don't get tired....keep up the good work!!