NewStats: 3,261,843 , 8,175,336 topics. Date: Friday, 30 May 2025 at 06:33 PM 2h3h1f

We were made to understand that using FX to import fuel puts a strain on our exchange rate

Now Dangote and PH refinery are taking care of our internal demands with little or no need for importation using forex,

HOW COME DOLLAR RATE IS STILL OVER 1.7k Naira?

Didijiji:
We were made to understand that using FX to import fuel puts a strain on our exchange rate

Now Dangote and PH refinery are taking care of our internal demands with little or no need for importation using forex,

HOW COME DOLLAR RATE IS STILL OVER 1.7k Naira?

It is going to be very, very gradual. It is not automatic. Just like the fuel price which little by little amount is being deducted gradually to lower the price of fuel.

Softmirror:


It is going to be very, very gradual. It is not automatic. Just like the fuel price which little by little is being deducted gradually to lower the price of fuel.

why is it gradual?

Are we still importing?

Subsidy was not removed gradually

And where is the fuel price deduction happening?

Didijiji:
why is it gradual?

Are we still importing?

Subsidy was not removed gradually

And where is the fuel price deduction happening?

It seems you already have a fixed mindset before asking this question. Mind you it is on this same, Nairaland that you people still argued that the government was still paying subsidy which simply means it wasn't totally removed but was gradually removed.

In Nigeria, positive effects are not automatic, it could take years with very little or no positive effects. But if the government was to add to the hardship in the land, it's always automatic.

ttaiwo09:
In Nigeria, positive effects are not automatic, it could take years with very little or no positive effects. But if the government was to add to the hardship in the land, it's always automatic.

That is a law of realism. It takes longer time to build and a lot lesser time to destroy. The problem is we lack patience. When did the Ph refinery kick start even Dangote when did it kick start?! I am confident that things will stabilize but it ll be very gradual.

Usd1750

Softmirror:


It seems you already have a fixed mindset before asking this question. Mind you it is on this same, Nairaland that you people still argued that the government was still paying subsidy which simply means it wasn't totally removed but was gradually removed.

not about having a fixed mindset

Hardship is the land is real

ttaiwo09:
In Nigeria, positive effects are not automatic, it could take years with very little or no positive effects. But if the government was to add to the hardship in the land, it's always automatic.

Exactly

Didijiji:
not about having a fixed mindset

Hardship is the land is real

After hardship comes ease. Be patient and focused.

If the government is honest

The amount of fuel that have been sold from local refining ought to have crashed the price of dollar even if it is 100 drop

Softmirror:


That is a law of realism. It takes longer time to build and a lot lesser time to destroy. The problem is we lack patience. When did the Ph refinery kick start even Dangote when did it kick start?! I am confident that things will stabilize but it be very gradual.

This was the same epistle you preached during buhari era!

You better receive sense and don't let them chop you and your children's life.

WakeUpNigerians:


This was the same epistle you preached during buhari era!

You better receive sense and don't let them chop you and your children's life.

Of course Tinubu is continuing from where he stopped. It's a journey in the right direction.

Softmirror:

It is going to be very, very gradual. It is not automatic. Just like the fuel price which little by little is being deducted gradually to lower the price of fuel.

muykem:
You don't understand how things work. Nigeria had a lot of forex outstanding sentiment which we are still battling with. The good news is that we aren't increasing it by importing pms again.

ttaiwo09:
In Nigeria, positive effects are not automatic, it could take years with very little or no positive effects. But if the government was to add to the hardship in the land, it's always automatic.

Propaganda don change gear?

From Abokifx to Binance to Abroad school fees to Oil imports, excuses with no end. Next is Obidients or Peter Obi?

You don't understand how things work. Nigeria had a lot of forex outstanding sentiment which we are still battling with. The good news is that we aren't increasing it by importing pms again.

Tinubu has destroyed Nigeria

Softmirror:


It is going to be very, very gradual. It is not automatic. Just like the fuel price which little by little is being deducted gradually to lower the price of fuel.

But it was not gradual when it was going up... E reach make Nigerians reap some tangible reward for their sufferings and patience .....una start grammar ...
Your leaders will be spending all the revenue that they could use to back the naira abit like other serious nations....y'all will be explaining their incompetence for them.... Even China bigger than Nigeria doesnt run a totally free floating currency

muykem:
You don't understand how things work. Nigeria had a lot of forex outstanding sentiment which we are still battling with. The good news is that we aren't increasing it by importing pms again.

Hahahahahahaha....oga said thank God we are not increasing it......you think ur leaders are stealing in Naira??
U think ur leaders are borrowing in naira??

Nigeria's forex debt will never end.....because of embezzlement...it baffles me when y'all think these leaders are doing anything to benefit anyone other themselves....

advanceDNA:



But it was not gradual when it was going up... E reach make Nigerians reap some tangible reward for their sufferings and patience .....una start grammar ...
Your leaders will be spending all the revenue that they could use to back the naira abit like other serious nations....y'all will be explaining their incompetence for them.... Even China bigger than Nigeria doesnt run a totally free floating currency

Go and ask anybody who knew the late Yar'adua's first tenure as governor of Katsina state. He had nothing to show, infact he was tagged as the worst governor but what he was doing through out the first four years was planning, strategizing and saving as much as possible money. In his second term, he transformed Katsina totally. This is a local example. It applies to China, and so many other countries that have succeeded in pulling themselves out of being third world countries to first class countries, if you know history.

Softmirror:


Go and ask anybody who knew the late Yar'adua's first tenure as governor of Katsina state. He has nothing to show, infact he was tagged as the worst governor but what he was doing through out the first four years was planning, strategizing and saving as much as possible money. In his second term, he transformed Katsina totally. This is a local example. It applies to China too if you know history.

Hahahahahaha but the case is different when the governor's name is Peter Obi. Urchins contradicting themselves.

Didijiji:
why is it gradual?

Are we still importing?

Subsidy was not removed gradually

And where is the fuel price deduction happening?

some of this defenders don't know how awful they sound sometimes
The government is simply doing business, selling dollars at the price they want and fuel at the price they want,the government is just profiting from Nigerians in-line with their revenue target
The reason they did not allow a private business man to determine the price of his product (petrol) that would have exposed everything to those who were not aware
Welfare of the people is not as important as revenue to this government
When the people were hailing IGR in Lagos, it has been brought to the FEDERAL now
Enjoy the King of IGR

Didijiji:
We were made to understand that using FX to import fuel puts a strain on our exchange rate

Now Dangote and PH refinery are taking care of our internal demands with little or no need for importation using forex,

HOW COME DOLLAR RATE IS STILL OVER 1.7k Naira?

You answered it already. Tinubu illegitimate government is based on only lies and propaganda. Look at the lives of people that ed him and ask yourself if you want your life to be that way. The only way to confirm a refinery is working is to invite independent truckers to inspect and buy fuel from those refineries and not show us stage managed videos like they did in the early stages of boko haram which lies led to FG allowing their terrorist activities to spirall out of control. Lies and deceit can never get the country anywhere but ruin Nigeria further. Common sense should tell even a child that reason for building a refinery is to make fuel price cheaper and reduce strain on FX but how come imported fuel is cheaper than refinery fuel? With dangote recent calls on government for billions of dollars to import same crude we export from Nigeria makes me think these guys wants to sell you imported fuels from non functional refineries at higher price. Let’s wait and see

Anything you see Agbado come out to celebrate celebrate with their yellow teeth will most definitely fall drastically like buhari, tinubu, naira, security of the nation, economy etc it has never failed to happen

Softmirror:


Go and ask anybody who knew the late Yar'adua's first tenure as governor of Katsina state. He has nothing to show, infact he was tagged as the worst governor but what he was doing through out the first four years was planning, strategizing and saving as much as possible money. In his second term, he transformed Katsina totally. This is a local example. It applies to China too if you know history.

Sigh...u are still justifying current incompetence with past incompetence.....una nor dey tire? Una nor dey shame?? Always explaining ur wicked leaders incompetence for them

Mayb u don't get it ...None of our leaders has ever had anything tangible to show..all they do is use bridge, roundabout and road project to steal......they all come to steal and go..from the military leaders to democratic leaders...they only way they kept things sane a bit was to back the naira and pay subsidy on fuel...the two things that drove the economy ...

.tinubu's own is more worse because he completely removed the only thing keeping things sane and gave it to the governors to steal........

Imagine the UK take away the subsidy on the health sector which makes all treatment free and education, in the name of doing more .which more sir...?? Is health and education not the needs of the pple...

. We being heavily robbed under this government under the guise of doing more yet y'all are ing it.. I know don't if yall are delusional or just have blind faith...

Didijiji:
We were made to understand that using FX to import fuel puts a strain on our exchange rate

Now Dangote and PH refinery are taking care of our internal demands with little or no need for importation using forex,

HOW COME DOLLAR RATE IS STILL OVER 1.7k Naira?

Because we don't do what the countries with strong currencies do.

Export manufactured goods whose prices we can set, meaning we can attract enough forex to keep our currency strong.

Instead we sell raw materials whose prices we do not control and import and import. Plus most of the time the price of what we sell never ever favours us.

Like oil. If we want to balance the budget, oil needs to be 120 dollars or more per barrel. If we want to earn enough from oil we need to produce at least 20 million barrels of oil a day.

Nigeria is owing foreign refineries money for the previous imports. Also refining means the crude we could have sold to earn fx has now gone into those refineries. Until they achieve economies of scale and reduce production costs nothing will change o

advanceDNA:


Sigh...u are still justifying current incompetence with past incompetence.....una nor dey tire? Una nor dey shame?? Always explaining ur wicked leaders incompetence for them

Mayb u don't get it ...None of our leaders has ever had anything tangible to show..app they they day is use bridge, roundabout and road project to steal......they all come to steal and go..from the military leaders to democratic leaders...they only way they kept things sane a bit was to back the naira and pay subsidy on fuel...the two things that drove the economy ...

.tinubu's own is more worse because he completely removed the only thing keeping things sane and gave it to the governors to steal........

Imagine the UK take away the subsidy on the health sector which makes all treatment free and education, in the name of doing more .which more sir...?? Is health and education not the needs of the pple...

. We being heavily robbed under this government under the guise of doing more yet y'all are ing it.. I know don't if yall are delusional or just have blind faith...

Ok

Softmirror:


It is going to be very, very gradual. It is not automatic. Just like the fuel price which little by little is being deducted gradually to lower the price of fuel.

It is not supposed bro b gradual ... If u understand economics it should b swift

it was march this year na when the naira was at 1600 and starting falling back to 1200. was even about to go to 1000 and apc fools said it was going to fall to 750 and yet at this point, it is still at over 1700 meanwhile those apc fools are no where to be found after those awful predictions back in march. Bleep those fools. i go wipe them with usb cord.

blacksam01:


It is not supposed bro b gradual ... If u understand economics it should b swift

Ok

nairalanda1:


Because we don't do what the countries with strong currencies do.

Export manufactured goods whose prices we can set, meaning we can attract enough forex to keep our currency strong.

Instead we sell raw materials whose prices we do not control and import and import. Plus most of the time the price of what we sell never ever favours us.

Like oil. If we want to balance the budget, oil needs to be 120 dollars or more per barrel. If we want to earn enough from oil we need to produce at least 20 million barrels of oil a day.

where are the forex savings from not importing oil?