NewStats: 3,261,381 , 8,173,850 topics. Date: Thursday, 29 May 2025 at 05:34 AM 21d1f

seunowa:

Please continue to educate them because the indices are obvious even for the blinds..

You're blessed, madam.

Kukutente23:

I don't know what you mean by jumping on chair.
You claimed oil production has increased, give evidence you're turning it to personal matter.
If you don't have any evidence, I guess it's safe to say you're lying

Like i said, i won't entertain nor feed your mischief. If a basic information is so hard for you to search on Google, basic!, then i'd let you sleep on your mischief.

Godfullsam:


I was about saying it. Once Nigeria finally overcome this challenges of fuel importation and we begin to export refined fuel instead, dollars worshippers will be in severe pains and the usd will experience it's worst decline in decades.

I can't wait for fuel tankers to queue up at PH refinery loading fuel. It will ease off pressure a bit. Hopefully, Kyari will not make a mess of himself.

Kukutente23:

Where is the evidence that oil production has increased. Oil price has been up since before this fumbling govt took office. So oil price isn't the reason the naira tumbled

I really don't see what it is to rejoice about. 1300 to a dollar is an abysmal rate

If somebody can sit behind the keyboard and talk so very mischevously of facts, obvious facts about increase in oil production, then i have no need entertaining a dark hearted pessimists. I have the right to be excited about naira appreciating as you were jumping on your chair when naira was everyday depreciating.

TheOldGods:
why are prices of things in the market not coming down. See eh, the problem is not in the Naira, but Nigeria. We don't have any body that supervises and regulates pricing. Anybody go just wake up put price. Dollar is selling for ,1280, now but prices are still high when it was 1500-1600.

The primary duty of CBN is to stabilize currency. Nigeria does not operate price control, we allow market forces to play out. However, artificial scarcity and arbitary increase in price needs to be checked not by monetary policy only and that's where state governments need to come in too.

seunowa:

Clueless idiot, when naira was exchanging for 1850 to a dollar, someone like you was rejoicing and calling the government all manner of unprintable names.
But now that the government set out policies framework are paying off. You are bringing out another negative narratives that naira will collapse in less three months.
If naira doesn't collapse In three month then that doom will fall on your head...
Negativity about our country should be erased. Everyone should this government to achieve greatness and prosperity. If these are sustained,in no time, fuel prices will go down, so also prices of commodities and food.

I have never been bothered about some bunch of naysayers, i got wager with them. I won some bucks against a few of them who were bent on naira tipping at 2000. Naira was sliding 1600/1700 at the time but I projected naira rebounding based off of key indices. If anyone of them can dare, let them come in and take me on. Make money off them.

SoNature:
I watched the press conference, but Yemi Cardoso didn't mention where he got the $7 billion to pay off the outstanding obligations. If we had this money readily available, why were they owing those organisations?

Earlier in the year, news broke that the NNPC would help the FG (CBN) borrow $3.3bn from Afrexim Bank. If that money is what they are using to clear the outstanding fees, it's understandable. However, they should have clearcut repayment plans.

Before you quote me to start your name-calling, make sure you have answers to my question. By the way, I like that Yemi Cardoso had to engage Deloitte to vet the companies that were asking for refunds. It shows he's taking his job seriously.

Cardoso need not say much if you diligently followed up on his measures and the steps taken so far. The OP gave insights how reserves was boosted that helped clear those backlog. Then again, NNPCL never borrowed $3billion for CBN, never did.

Putindbutt:

True, i was at a pharma store and was told they would have to sell off the ones on shelf before they reduce price and that dollars have to be stable.

If PH starts production this month as promised, it'd futher endanger their speculations as dollars would futher crash. They'd rather sell off the old stock as fast, rather than the waiting game.

I just created a thread about this. We await full information and true market outlook by the end of today's trading. Hoarders are ever in trouble.

tyup:


You got link proof??

I don't have a link, but have got first hand information, Customs have been sent the memo.

MrProlific95:
Propaganda drove the exchange up, propaganda is been used to bring it down. Cosmetic surgery government

"it is better to remain silent and be thought a fool than to talk and remove all doubts".

helinues:


Wait, are you saying you are not happy about naira gaining strength, make I just ask that straight question

Read my comments again, i agreed with you.

jetwonder:

But Prices of good is still high!
Government should look into this.

CBN as at yesterday had also reduced custom duty, so we expect a corresponding reduction in prices of imported goods, unless of course Nigerians do what they do best- which is continued exploitation and greed. Also, all level of government should roll up their sleeves and invest in critical sectors in their respective states.

helinues:
The manipulators have been sent out. Naira would gain more strength too, the exchanged rate even outside the country is reducing.

Good news for sane and patriotic Nigerians, bad news for the enemies of progress and development of Nigeria

Manipulators like Binance have been shut out, anyone thinking there will be a massive slump is making a big mistake of his life. This crop of CBN executives led by Cardoso are the real MVP. Hoarders beware!

It is also noteworthy to appreciate CBN's new guildelines, these bold moves have helped sanitize the financial system. CBN henceforth is closely monitoring operations of financial institutions and BDCs. CBN and the security agencies are following every transactions, the eagle eyes are following the money. Hopefully, it gets even better.

PS; foreign reserves has grown to $34billion as at feburary.

By a stroke of genius, the President had ordered the CBN be in charge of receipts of oil revenues, a departure from decade-long misappropriation of crude oil sales. It therefore enhances CBN's ability to stabilize the currency. The insinuation that CBN borrows to sell to banks and BDCs should be disregarded.

2. Clearing of $7billion backlog has done the economy so much good. Investors no longer have the fear of their funds being trapped.

3. Oil production is on a steady increase. Although, a component volume of it had been sold in the future, however, the significant increase in production is offsetting the shortfalls. Moreover, oil price is up.

4. The market is gaining back investors' confidence. Following MPC meeting in January, investors reacted positively, total foreign portforlio recorded $2.3billion in febuary, purchases of naira assets stood at $1billion, oversea remitances went up greatly, FG bonds was oversubscribed, all these helped create more liquidity and increases market supply.

PastorOlokonla:
Every democracy have oppositions all over the world and do not expect everyone to see from same viewpoint. I doubt if you are educated enough to realize or your brain is clouded by tribalism.
Where were you when Emilokan was busy criticizing Jonathan.

Abeg go get a life!

The actions of Obi and his headless mobs is no where near being a credible opposition but bitter opposition, a tribal-driven opposition. No sensible opposition will throw his own country under the bus such that another country could run over it. If some bunch of illiterates or online barbarians do it, a former boss of a Government agency should have had a measure of self restriction. Obi himself is not cut out to be a leader, he'd better be more useful following Atiku. His efforts at trying to be a voice of the opposition have been wishy washy, very unreasonable and incompetent.

PastorOlokonla:


In Nigeria we are divided by tribalism no matter how we pretend, exact reason Tinubu is making appointments from one tribe and I am sure you don't see anything wrong with that.

In a democracy, the president and the government is not above criticism.
You can't tell people how to criticize or exercise their fundamental rights to speech. We need more education in Nigeria to enlighten people about how democracy works.

GEJ appointed his allies into critical sectors, igbo being his major beneficiaries, Buhari did same, likewise Tinubu appointing his own allies. After each istration, we shall compare performances.

Tianamen1:
Professor Sam Amadi is amongst the most knowledgeable Nigerians alive. If the GEJ istration had not wasted our excess crude , the professors MYTO plan would have worked and Nigeria would have had stable electricity which hopefully would have led to industrialization of Nigeria.

In the ops critic, the op reveals a major problem with the Nigerian mindset. The op claims that Nigeria gave a lot to the professor implying that the professors executive position at NERC was not merited. A society that has no value for merit but prides itself in cronyism and Nepotism, that takes loyalty over competency, is one that is destined for failure.

Sam Amadi was one of the top worst s ever. His expertise sounds best only on paper but an absolutely crap in the real sense. What was his achievements?, what were his reforms?. He left the power sector worse than he met it.

ValarDoharis:
Seems you lack comprehension. Obi is saying someone has malaria, instead of giving malaria medication, you're giving paracetamol only. That person will not get well!

What is driving the naira fall is corruption and unproductive economy. If you don't fight govt and bank corruption, they'll change tactics

You must be smoking hot weed. Obi is clearly speaking for a group of illegal forex traders who are shortchanging the system. His intention is as clear as daylight.

PastorOlokonla:


Your opinion my friend.

What will you say about Tinubu and APC led protest against Jonathan.
This is democracy and people are free to agree or disagree with the government.
Its Its nothing new.

Tinubu led a protest, so what?. Labour led a protest against Tinubu a few early months he took over. However, a crass styled and tribal motivated opposition by a secondary opposition in Obidient movement is insensible. The main opposition PDP is not as toxic and unreasonable as you are. Tinubu, in opposition, protested but never wished evil on his country, never talked down on the Presidents, never incited his followers against any Government institutions. It's high time you learned playing credible and sensible opposition

kettykin:
I want to understand how the aggression has shifted from Qatar to Sam Amadi. It appears that the APC is now the one vocalizing criticism, or more accurately, acting as the opposition party.

For Amadi and his ilks, Nigeria has nothing to offer and no foreign country could gain nothing from Nigeria. His excitement would be that Nigeria be treated like a pariah state among the comity of nations as long as a Tinubu he didn't vote for remains the President. A once former boss of Govt agency revels in a supposed rejection of his country by another and gladly put out a tweet to celebrate it. No opposition in the US s Russia's aggression or North Korea's against the US or vice versa. The interests of the Country places ahead of party or tribe.

PastorOlokonla:
Every democracy have oppositions all over the world and do not expect everyone to see from same viewpoint. I doubt if you are educated enough to realize or your brain is clouded by tribalism.
Where were you when Emilokan was busy criticizing Jonathan.

Abeg go get a life!

The actions of Obi and his headless mobs is no where near being a credible opposition but bitter opposition, a tribal-driven opposition. No sensible opposition will throw his own country under the bus such that another country could run over it. If some bunch of illiterates or online barbarians do it, a former boss of a Government agency should have had a measure of self restriction. Obi himself is not cut out to be a leader, he'd better be more useful following Aiku. His efforts at trying to be a voice of the opposition have been wishy washy, very unreasonable and incompetent.

While Sam Amadi called the unverified leaked memo as "a rebuffing", he opined that "Qatar was right rebuffing Nigeria". He also noted that "Qatar has nothing to gain" from Nigeria as Nigeria is "big for nothing". These are the insinuation of a former boss of NERC, a man Nigeria had given so much to but gave nothing back to Nigeria, yet gloating and demarketing Nigeria, just because, by inference, his tribal candidate lost the election. Nothing else could better explain the cause of the bitterness. Peter Obi, on the other hand, was reffering to street trading of FX as "business activities". He insists that the efforts of security agencies to clamp down on the illegality of the economic sabouteurs as "ill advised and wrongly directed. Shockingly, Peter Obi claimed the Government efforts at sanitizing the foreign exchange market WILL further escalate and worsen the forex situation. Peter Obi is advocating for continued illegal street trading of FX that has messed up the naira. Peter Obi himself is a saboteur.

Qatar is right in rebuffing Nigeria's plea for a business summit. It has nothing to gain discussing with our policy makers and business leaders. It has been a fairly long descent to "a big for nothing". - Sam Amadi

The recent reported attacks and disruption of the business activities of Bureaux de change operators in different urban centers across the country by Government Agencies are ill-advised and wrongly directed. Rather than solve the problem, the action will further escalate and worsen the exchange rate situation of the country. - Peter Obi

A former boss of NERC and the other, a two-term Governor of Anambra state, both had nothing significant to reckon with at the end of their scorecards. A twin of spectacular failures both as electricity and a Governor with an abysmally mediocre performance. They have nothing to offer than self aggrandizement full of negative perceptions. These men are the face of Obidient, the Ambassadors of "bad news is our good news" fascists.

He has dropped quote as typically as they would to sway the minds of the gullible, using the current economic happenings as a shield to deflect attention off his criminal and fraudulent activities. Same old tricks from the books.

Ogiame:
Ever since I embarrassed you for your bigotry on your thread, you've been looking to take your pound of flesh.

Falsehood? Lol, you're a clown bro.

What else have you got than your childish deflection?. Stay focused and answer the question- Are you more Obidient than those who ed a vote of confidence on Abure?, Are you holier than the hierrachy of the party who tried covering his acts of criminality?

Ogiame:
Okay clown, are you done?

Why were you deliberately gloating on falsehood?

Ogiame:
Very good, I said it that this guy is a lanky criminal.

My friends father who's a politician in Edo State was right. Never doubted Epa.

One thing I love about the Obidient movement is that we don't cover wrong doings like some other political parties. We go drag you out like Lamidi Apapa.

You really want to try credit his arrest to Obidients' intolerence for corruption?, look yourself in the mirror and you going to see a big fat clown. This case has been on since last year and was granted an istrative bail in court while Obidients were absorbing him and also accusing the ruiling party of destabilizing LP. Peter Obi, NWC, LP's state chairmen, a few days ago had ed a vote of confidence on him despite glaring series of malfeasance and criminal allegations around his neck. On what moral justification do you say, obidient do not cover wrong doings?, who are the Obidients?

TimeManager:
$13billion is huge, how much are we earning from crude oil. Nigerians can sell their father's house to import junks from China. Our culture of importation is quite pathetic.

-kiss the truth!

Oil revenue was estimated at $22billion for the year 2023. Meaning that we spent more than half the proceeds from oil on imports.

Crimecity:


Always giving excuses.

Una no dey tire?

Where's the excuses?, it's a conjecture. Only Buhari and Emefiele can tell us exactly what happened to the deal.