We have to wait to see if it is sustainable; we dont want a situation where it rises today and then falls like a pack of cards tomorrow.

LaEvilIMiss:
If MMM has stolen your money this is the best time to recover.. This Policy has very short-term benefits and is driven by a clueless CBN Governor. The Top 3 consumers of dollars in Nigeria are Dangote (65%), Otedola (25%) and others (8%) the rest of us (2%) when that happens - Naira will crash like a drunk prostitute.. Wait till dollars hits a low ebb possibly N450-$1 then buy like a desperado. by May ending dollars will be firmly rising at $650.

This policy introduces artificial effects because it is not caused by USD earnings in trades in Oil or others. It is simply an artificial move that the elite will cash in on and become zilionaires - no look uche face start looking for a loan or save to by dollars when it hits the lower stairs

For a while the CBN has been trying to build up the reserves, hence they've reduced their disbursements into the market and this worsened the scarcity thereby pushing it up to N520. With the reserves now at $30bn and following the loud outcries due to the N520 rate, the CBN has finally opened the vault again by releasing up to $500m; this release is what has triggered the appreciation of the naira seen this week. Additionally, the CBN has 'quietly' devalued the Naira with its latest policy of giving foreign school fees and medical bill seekers the dollar at about N375.

No doubts, the devils in the forex trade would start fighting hard to crash the Naira again using their usual hoarding trick. But you have to be careful how you hoard except you want to bite yourself. Firstly you need to remember that oil price is now about $55 and just last week, oil production has rose to 2m barrels daily. Also, a lot of manufacturers and other forex seekers have somehow learnt to adapt to the system by sourcing raw materials locally; that is in addition to the fact that export of non-oil products is slowly but surely picking up.

At the current rate of things, the CBN might just be able to sustain the disbursements of a good amount of forex weekly and we might just never get to the N500 mark anymore; except of course the boys in the creeks get angry again. So proceed with your hoarding with caution.

AmadiAba:
Hahahahaha... Funny people.

Zombies will always be zombie

Keep decievin ursef

Wot tribe are you?I know u will surely tell me ibo but u ar not ibo..why we no feet stand on our feet talk sumting we disagree with 4 dis govt witout hiding as ibo?

iblawi:


No, they won't fail because we would start getting more forex from sale of refined oil, petrochemicals, gas and fertilizer. Dangote refinery will produce 55 million liters of fuel per day which is more than enough for the whole West Africa and government is also trying to increase capacity of the old refineries in the country. Which means Nigeria would refine half of the crude oil we sell currently before selling them.

Dangote is also running gas pipeline under the ocean from portharcourt to Lagos which can generate up to 12,000MW of electricity compare to the existing one which can only generate 4000MW.
The current transmission line is being upgraded by Fashola from 5000MW to 8000MW before the end of the year and 10,000 MW by 2019.This means power is also on the way for local companies.

Standard gauge railway are also coming to reduce cost of transporting goods from one region to another. I doubt this would be completed before 2019. This will help the agricultural sector and manufacturing sector as well.


Different petrochemicals that were imported will no longer be imported by companies and will reduce pressure on forex.

Fertilizer will no longer be imported which will cut down the demand for dollar.

On agriculture, rice production has increased to 4.5 million metric tonnes while our local demand is about 6.5 - 7 million metric tonnes. Wheat is also on the pipeline as some northern states have started wheat farming. I don't think much have being done on fish, milk, Palm oil, sugar and poultry.

Solid mineral is another area but very little have been done in that sector too.

Putting everything together shows Nigeria might bounce back better than before if the current government do the right thing.

Just the dangote refinery and petrochemical plant alone would single handedly change Nigeria's economic landscape. I totally envy whoever would be president from 2019 cos unfortunately for the present guys, I believe there would certainly be delays which would drag the completion of that refinery to say 2020. But for whoever becomes president from 2019, without effort, the person would oversea a never-been-seen economic boom and would dubiously take all the glory for being a magician.

MutantMetahuman:
yeah yeah.
Also heard rice will become cheaper after dangote, kebbi and the rest start harvesting rice last year, fast forward, rice is still 20k.

Nigeria is the largest producer of cement in west africa, yet cement became expensive and still rising.
You think dangote will not find away to add to the hardship to make more money when his refinery finally comes online.
Two years later shitload of promises and hopes , refineries still not functional and you think the government is serious about anyything than blame jonathan?

I remember kachikwu telling us petrol will become cheaper 6months after governemnt removes subsidy to fix refineries. yeah its almost 2 years. Let blame jonathan or millitant for that.

My only problem right now is, who can replace this apc government if they completely fail by 2019

We are still saying the same thing from different angles.

The high cost of running business in Nigeria because most companies have to run on alternative sources of power, high cost of transporting their raw materials, high cost of transporting finished goods to the target market and multiple taxes. The cost of most things will drop when we start having stable power and better transportation system. Bag of rice is now 18k and in some states maybe less.

Dangote is the largest producer of cement in Africa now and the point is we no longer need forex to buy cement which is a great relief. High cost of production increased the price because he switched to gas powered system recently and the increase in diesel which his trucks use to transport goods around the country.

For the refineries I don't think kwachuku is straight forward enough. He says this today and another tomorrow, I will really love the refineries to be sold out to private individuals and let price war begin just like MTN, GLO and Etisalat.

You don't have to border yourself about 2019. Lagosian never knew who would replace Fashola in 2015 and I believe Ambode is doing well at least for now.

obailala:
Just the dangote refinery and petrochemical plant alone would single handedly change Nigeria's economic landscape. I totally envy whoever would be president from 2019 cos unfortunately for the present guys, I believe there would certainly be delays which would drag the completion of that refinery to say 2020. But for whoever becomes president from 2019, without effort, the person would oversea a never-been-seen economic boom and would dubiously take all the glory for being a magician.

Yes Bros. Not just Federal government but Lagos state will also see a lot of magic. From Eko atlantic to Lagos free trade zone, then Lekki airport and Lekki seaport, Badagry seaport, light rail system, 4th mainland bridge etc. Lagos would worth more than many African countries.

Macgabe:


What makes it so so special is it's proposed mode of implementation which was contained in the policy breakdown. Please read it's implementation pattern and see what am saying. Gracias

Pls, how exactly did u come about this information u are trying so hard to spread? I mean ur initial post which I quoted. Stop spreading falsehood. Previously, the proceeds from crude oil was being used to shore up the Foreign Reserve and it has gone to a manageable level, and with this policy, raising the Foreign Reserve will be on hold for sometimes while any subsequent proceeds will be used to salvage the Naira in the fx market. So, u mean the govt had been pumping $500m into the market every week and there is still scarcity? Hmm, the way some of u reason eh! So if the Abokiis have been getting it, why the scarcity? Or what stopped them from selling them? Or u mean they have been buying and keeping them at home thereby creating scarcity? Choi, see reasoning.

crackhouse:
lol. Mehn it's like we are on the same page. This decrease have affected my business transaction today. I don't know how Monday will look like.

I now understand. Monday will be fine, do not worry. All of us dey in GOD'S hand.

It didn't crash the dollar, instead the naira gained lol.

Macgabe:


The new CBN policies on Foreign currency. God bless the initiator and executors of that mind blowing policies.

name d policy naa abi e no get name?
The cabal directed CBN to release $350million to d abooki bureau de change operators to temporarily subsidise d exchange rate una de here de make noise.
Pls,once again,name d policy.

iblawi:


We are still saying the same thing from different angles.

The high cost of running business in Nigeria because most companies have to run on alternative sources of power, high cost of transporting their raw materials, high cost of transporting finished goods to the target market and multiple taxes. The cost of most things will drop when we start having stable power and better transportation system. Bag of rice is now 18k and in some states maybe less.

Dangote is the largest producer of cement in Africa now and the point is we no longer need forex to buy cement which is a great relief. High cost of production increased the price because he switched to gas powered system recently and the increase in diesel which his trucks use to transport goods around the country.

For the refineries I don't think kwachuku is straight forward enough. He says this today and another tomorrow, I will really love the refineries to be sold out to private individuals and let price war begin just like MTN, GLO and Etisalat.

You don't have to border yourself about 2019. Lagosian never knew who would replace Fashola in 2015 and I believe Ambode is doing well at least for now.

in short, all our hopes and dreams are on dangote completing is refinery/petrochemical industry with total monopoly and no government version to drag price right?

Good to know.

perhaps, I should campaigning for dangote, as our lord and saviour and pray he doesn't make life miserable for us when he finally has the country by its neck.

dokyOloye:
name d policy naa abi e no get name?
The cabal directed CBN to release $350million to d abooki bureau de change operators to temporarily subsidise d exchange rate una de here de make noise.
Pls,once again,name d policy.

Then I think you need to go back and read up the mode of implementation of the policy. If this is what you can deduce from the policy without thorough understanding then you didn't quite understand the policy.

dokyOloye:
name d policy naa abi e no get name?
The cabal directed CBN to release $350million to d abooki bureau de change operators to temporarily subsidise d exchange rate una de here de make noise.
Pls,once again,name d policy.

Please read this up and digest. thanks

On Monday, the CBN had announced a new forex policy
actions to cater for categories previously excluded from the
official forex rate and increase forex liquidity in the market.
The apex bank has since sold $370 million in an auction,
forward contracts, and also appropriated a weekly $20
million to commercial banks at N375 to a dollar for school
fees payment, medical bills and personal travel allowance.
According to the traders, the buy rate strengthened to N470
per dollar, from N490/$ it closed on Wednesday. This was
after the CBN reportedly auctioned another $230 million
through forward contracts on the interbank market.
Experts have said the continuous rise of the foreign reserves
has strengthened CBN position but insisted sustainability is
the key to economic recovery.
“The effectiveness of the new policy depend on sustenance,
while sustenance depends on continuous foreign exchange
generation through the sales of crude oil,” said Samed
Olukoya, a foreign exchange research analyst at Investors
King Limited. “Another attack on any of the pipelines could
disrupt the whole policy and hinder the nation from a
progressive economic recovery,” he added.

Who needs the support of the most hate driven ethnicity in the world?

We support PMB as our President and we appreciate for properly handing over to the VP as the Ag President when he was going on vacation.
That is maturity from a secured man with strong mentality and character..

We support Ag President for helping his Principal to achieve his objectives.

Ipods can cry from now till thy Kingdom come, the entire nation has left them behind with their eternal hatred.

kabrud:


Pls, how exactly did u come about this information u are trying so hard to spread? I mean ur initial post which I quoted. Stop spreading falsehood. Previously, the proceeds from crude oil was being used to shore up the Foreign Reserve and it has gone to a manageable level, and with this policy, raising the Foreign Reserve will be on hold for sometimes while any subsequent proceeds will be used to salvage the Naira in the fx market. So, u mean the govt had been pumping $500m into the market every week and there is still scarcity? Hmm, the way some of u reason eh! So if the Abokiis have been getting it, why the scarcity? Or what stopped them from selling them? Or u mean they have been buying and keeping them at home thereby creating scarcity? Choi, see reasoning.

Please read this up. Thanks

On Monday, the CBN had announced a new forex policy
actions to cater for categories previously excluded from the
official forex rate and increase forex liquidity in the market.
The apex bank has since sold $370 million in an auction,
forward contracts, and also appropriated a weekly $20
million to commercial banks at N375 to a dollar for school
fees payment, medical bills and personal travel allowance.
According to the traders, the buy rate strengthened to N470
per dollar, from N490/$ it closed on Wednesday. This was
after the CBN reportedly auctioned another $230 million
through forward contracts on the interbank market.
Experts have said the continuous rise of the foreign reserves
has strengthened CBN position but insisted sustainability is
the key to economic recovery.
“The effectiveness of the new policy depend on sustenance,
while sustenance depends on continuous foreign exchange
generation through the sales of crude oil,” said Samed
Olukoya, a foreign exchange research analyst at Investors
King Limited. “Another attack on any of the pipelines could
disrupt the whole policy and hinder the nation from a
progressive economic recovery,” he added.

MutantMetahuman:
in short, all our hopes and dreams are on dangote completing is refinery/petrochemical industry with total monopoly and no government version to drag price right?

Good to know.

perhaps, I should campaigning for dangote, as our lord and saviour and pray he doesn't make life miserable for us when he finally has the country by its neck.

Why dangote is a major player here is because oil importation eat up 30% of our forex and Gas pipeline can seriously improve our electricity generation overnight. Government can also repair our refineries before 2019 but even the they work at full capacity, they will only produce 20 million liters of fuel which is less than our consumption. So the capacity must be increased.


Secondly, in the power aspect, we have three levels which are the:

Power generation companies,

Transmission companies and

Distribution companies.

Dangote will only play a role in the power generation aspect. Nigeria has a little above 12,000MW installed capacity but most are gas fired plant with little from hydro plant and the existing pipeline can only carry enough gas for just 4000MW even if Militants don't blow them up. So bringing up a 12,000MW gas pipeline undersea means more security from vandals and power generation can easily go up to 16,000MW.


For the transmission companies this is where government is active. The transmission companies transmit power from the generating station to the distribution companies. what was existing before now was just 5000MW transmission capacity. So even if the generating companies produce electricity above 5000MW they won't be able to transmit the power to the DISCO (distribution companies). So currently it has been upgraded to 7,000MW but it will reach 8000MW this year and 10,000MW by 2019. This is where Fashola is working on.

Distribution companies (DISCO) we all know them as they supply us the electricity and Bill us for what we consume. The meaningful thing going know in this section is that they are to provide meter for every customer and the will get the meter from local companies. This will stop over billing of customers and will make customers control the usage.


Inclusion, Dangote is only a part of the success story. Many others are also investing in our economy. His refinery will not only reduce our need for forex but will generate more forex for the country and this is why I said dollar might drop to around N100 by 2020.

We still have lot of untapped sectors like textile, tourism, mining, manufacturing, agriculture, leather, etc. Believe me, Nigeria will be a trillion dollar economy in few years.

FastShipping:


Don't mind that double faced hopeless religious bigot who should keep his sermon to himself. Just go through his posts and see religious bigotry all over.

I used to be a Buhari apostle but I don't really think he has done as much as he should have but that doesn't make me lose my senses because I wouldn't hesitate to vote or campaign for him again if the choices happen to be GEJ and other old PDP looters. I don't go around about being divisive based on ethnicity or religion like some do here. I argue based on facts. The person giving you sermon should look in the mirror first. He is a bigot. In fact one of the worse here.

Still waiting for your reply. 2007 Mercedes Benz ML 350 in Pittsburgh, PA

Buhari no get sense reach osinbajo na

iblawi:


Why dangote is a major player here is because oil importation eat up 30% of our forex and Gas pipeline can seriously improve our electricity generation overnight. Government can also repair our refineries before 2019 but even the they work at full capacity, they will only produce 20 million liters of fuel which is less than our consumption. So the capacity must be increased.


Secondly, in the power aspect, we have three levels which are the:

Power generation companies,

Transmission companies and

Distribution companies.

Dangote will only play a role in the power generation aspect. Nigeria has a little above 12,000MW installed capacity but most are gas fired plant with little from hydro plant and the existing pipeline can only carry enough gas for just 4000MW even if Militants don't blow them up. So bringing up a 12,000MW gas pipeline undersea means more security from vandals and power generation can easily go up to 16,000MW.


For the transmission companies this is where government is active. The transmission companies transmit power from the generating station to the distribution companies. what was existing before now was just 5000MW transmission capacity. So even if the generating companies produce electricity above 5000MW they won't be able to transmit the power to the DISCO (distribution companies). So currently it has been upgraded to 7,000MW but it will reach 8000MW this year and 10,000MW by 2019. This is where Fashola is working on.

Distribution companies (DISCO) we all know them as they supply us the electricity and Bill us for what we consume. The meaningful thing going know in this section is that they are to provide meter for every customer and the will get the meter from local companies. This will stop over billing of customers and will make customers control the usage.


Inclusion, Dangote is only a part of the success story. Many others are also investing in our economy. His refinery will not only reduce our need for forex but will generate more forex for the country and this is why I said dollar might drop to around N100 by 2020.

We still have lot of untapped sectors like textile, tourism, mining, manufacturing, agriculture, leather, etc. Believe me, Nigeria will be a trillion dollar economy in few years.

so far, you are still staying what government should and not what governement is doing.

The only hope of light at the end of the tunnel is dangote.
the installed capacity to function, dangote gas pipeline.

Distribution, I don't see any project going by the government.

Dangote will generate forex for us.

People investing in the economy are on paper. only known investor now is dangote and more dangote.

What exactly is government doing?
They cannot evem diversify.

I wonder what is gonna happen if dangote is not doing anything.

omenkaLives:
That is why i keep saying progressives shouldnt fall for their latest hate campaign intent on dividing us!

Osinbajo represents the FG just as much as Buhari and for any policy that aids our ailing economy, we would give credit to the APC team comprising Baba, Osinbajo, Kemi, Emefiele, et al.

LiePob should stop their divisive gimmicks cos we see right through them. All they are trying to do is sow discord amongst APC supporters but let it be known to them; BUHARI'S SUPPORTERS ARE OSINBAJO'S SUPPORTERS AND OSINBAJO'S SUPPORTERS ARE BUHARI'S!!

Igberetv can continue concentrating their coverage of Kanu and Ipob and leave our Ag. President alone before they infect him with ipob hate virus.

God bless you my brother. Could not have said it better

MutantMetahuman:
so far, you are still staying what government should and not what governement is doing.

The only hope of light at the end of the tunnel is dangote.
the installed capacity to function, dangote gas pipeline.

Distribution, I don't see any project going by the government.

Dangote will generate forex for us.

People investing in the economy are on paper. only known investor now is dangote and more dangote.

What exactly is government doing?
They cannot evem diversify.

I wonder what is gonna happen if dangote is not doing anything.

Nigerian economy is over N90 trillion and government spending out of this is only N7 trillion. This is enough to tell you that Nigerians drive the economy while government mainly make policies. There are many players on our economy doing things on a low key. Yes Dangote is a major investor but his investment is still less than government spending of just N7 trillion.

So who are the rest? We also have other people building modular refineries, real estate, mechanized farming, textile industry, banking, etc which can also increase forex.

What am trying to say is that Dangote might have N24 while 30 other people have just N2 each. Yes, the truth is Dangote is a big boy but when you add up the N2 of the other 30 people you will have N60. So he is not the only one but his contribution is huge which makes him a major player.

iblawi:


Nigerian economy is over N90 trillion and government spending out of this is only N7 trillion. This is enough to tell you that Nigerians drive the economy while government mainly make policies. There are many players on our economy doing things on a low key. Yes Dangote is a major investor but his investment is still less than government spending of just N7 trillion.

So who are the rest? We also have other people building modular refineries, real estate, mechanized farming, textile industry, banking, etc which can also increase forex.

What am trying to say is that Dangote might have N24 while 30 other people have just N2 each. Yes, the truth is Dangote is a big boy but when you add up the N2 of the other 30 people you will have N60. So he is not the only one but his contribution is huge which makes him a major player.

atleast now you admit this present administration is pretty useless right? As dangote and very few percentage are running things. Even their so called policies have been total fail so far?

What would it cost to diversify into agriculture and solid mineral?
Let assume other sectors need a lot of money which we don't have and waiting for dangote to give us, what about those two?
Nigeria has almost the amount of solid minerals as south africa, but buhari is still searching for more oil in the north while they use the proceeds to import grass for cows.

Its oil and more oil.
Is that why we elect them?
They are just there like figure head and waiting for dangote to come and solve all our problems for us.
Why not kuku sell the country to dangote.

Landmark445:
Still waiting for your reply. 2007 Mercedes Benz ML 350 in Pittsburgh, PA

No need for you to be going from one thread to another to quote me before you get response from me. My time zone is different from yours.

FastShipping:


No need for you to be going from one thread to another to quote me before you get response from me. My time zone is different from yours.

I'm sorry. It's because there was no other way to contact you. Please do you have an email or a number to reach you? And what is your quote as regards my inquiry. Thanks

Bitterleafsoup:
Please prove this Sir.

You asked if Osibanjo was the head of the economic team please read; http://www.dailytrust.com.ng/news/general/presidency-unveils-buhari-s-economic-team/135566.html

Landmark445:
I'm sorry. It's because there was no other way to contact you. Please do you have an email or a number to reach you? And what is your quote as regards my inquiry. Thanks

$400 trucking

$760 shipping if it is a run and drive car in good condition. Call 08096385068 for further inquiry.

FastShipping:


$400 trucking

$760 shipping if it is a run and drive car in good condition. Call 08096385068 for further inquiry.

Hey, is Calculusx your second moniker? Because it's the same number on the profile and I added the number on WhatsApp and got a different quote? And yes, the vehicle is run and drive without any accidents.

Landmark445:
Hey, is Calculusx your second moniker? Because it's the same number on the profile and I added the number on WhatsApp and got a different quote? And yes, the vehicle is run and drive without any accidents.

Not the same moniker. I doubt you got a different quote. I believe you were referring to $375-$400 trucking quote.

Go by the quote I gave you.

FastShipping:


Not the same moniker. I doubt you got a different quote. I believe you were referring to $375-$400 trucking quote.

Go by the quote I gave you.

The person I chatted with on WhatsApp with this ‪number +234 809 638 5068‬ said shipping will cost $1050 and you said $760.

Landmark445:
The person I chatted with on WhatsApp with this ‪number +234 809 638 5068‬ said shipping will cost $1050 and you said $760.

It is $400 + $760. You've not even bought the car but you're here looking for way to ship it. You are not guaranteed to win the car.

superbouck:
Hw is ur day going? I hope all is well? I just want to let u knw that there is something I want to ask u now which I've been hiding from u for a very long time, sometimes when I want to ask u that i feel discouraged cos i don't know if u re gona respond negatively, i just want to let u know dat what I'm about to ask you has been a burden to me for a very long time and I just can't keep it in my mind any longer, so pls don't feel upset when I ask dis to you, just know dat it's from my heart and it's real, pls pls pls be sincere and tell me the truth, Is Buhari in your place?....

What is this one saying?