NewStats: 3,264,057 , 8,182,449 topics. Date: Monday, 09 June 2025 at 01:17 PM 1i1b15

Douglad:
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.

no mind the eeediots

aariwa:
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

nothing good will come out

Softmirror:


After hardship comes ease. Be patient and focused.

you said this during Buhari

Now again

Don’t you think it makes you sound stewpid

Didijiji:
why is it gradual?

Are we still importing?

Subsidy was not removed gradually

And where is the fuel price deduction happening?

We are not earning enough FX. Over 80% of foreign earnings come from crude. If we can improve on our crude production to atleast 2million barrel per day, we would earn more FX and there would be less pressure on dollar

kunle4toyeyaho:
We are not earning enough FX. Over 80% of foreign earnings come from crude. If we can improve on our crude production to atleast 2million barrel per day, we would earn more FX and there would be less pressure on dollar

where is the forex hitherto used to import fuel?

Softmirror:


After hardship comes ease. Be patient and focused.

Where is the ease for the hardship under Buhari?

Tallesty1:
Where is the ease for the hardship under Buhari?

It is with Tinubu.

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 ll be very gradual.

The same patience you preached for Buhari’s 8 years is what you have started again. Continue.

We keep doing the same thing and expect a different outcome.

You borrowed dollars that disappeared into thin air and you expect that the reforms squeezing the life out of Nigeria s will make us generate enough dollars to pay interest on the loans they are still going to collect instead of reducing cost of government

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?

from October to November, we have spent more than $1 billion on importing fuel

Didijiji:
why is it gradual?

Are we still importing?

Subsidy was not removed gradually

And where is the fuel price deduction happening?

. O mind them.
No be only gradual,na graduates.

Softmirror:


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.

Well said, it's a gradual process.

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.

na only you talk wetin I understand. Because it should be a simple economic rule. Demand and supply, PMS was our biggest import and we just removed it from the board, the effects should be seen immediately. Now, with the price steadying at 1750, it will be because of we outstanding bills to settle and that we're not adding further pressure. At least when we settle our bills, we should see the drop we're all hoping for

Softmirror:


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.

It will not improve anything even in the nearest future because these guys at the helm of affairs are nothing but very very terrible managers of both human capital and natural resources of this country. Very awful.

Check throughout history, when a serious minded leaders assumes leadership, the people immediately start feeling the positive impact from day 1!

Remind me again what day are we in this istration? Day 350+?

kunle4toyeyaho:
We are not earning enough FX. Over 80% of foreign earnings come from crude. If we can improve on our crude production to atleast 2million barrel per day, we would earn more FX and there would be less pressure on dollar

Supervised by an utterly corrupt kleptomaniac irresponsible government? You guys are joking 😁

It will reduce but gradual. It should be noted that Dangote is still sourcing forex to import crude oil, even government income through forex will reduce because of the crude sales in naira.

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.

Nonsense

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.

A bottle of beer is 2k now and u re still preaching

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.

The way hardship take add up withing 1 year of tinubu entry wasn't gradual....

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.

You are very nice at educating the ineducable

Quran 94v6

Softmirror:


After hardship comes ease. Be patient and focused.

Blitzking:

The way hardship take add up withing 1 year of tinubu entry wasn't gradual....

no mind them

Hardship can add up instantly

But better life na gradual

Eeediiots

Didijiji:
where are the forex savings from not importing oil?

The day you realize that Nigeria needs to earn far more than what we are earning and that the crime of corruption in this country is not just the stealing but it is like a rich person stealing a poor man's only 2000 naira

Softmirror:


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.

stop deceivin yourself....

soo long the hunger for dollars of nigerians remains high na soo the exchange rate go remain high too....
think....!!
more nairas nigerians can get more dollars they will buy with it....how do you await price of dollars to go down like this....??

nigeria is a heavy dollars er already subsidy or not....

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?

Also that dangote borrowed billions in usd to build the refinery which he'd payback from proceeds of sale. So while we may not be needing forex to import petroleum products, hed still need it to pay off his debt. The main difference now is that the need (for petroleum related purposes) should be less abd drop with time

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.

here is someone that gets it.


Because we stopped importing doesn't mean we still don't have a lot of debt accrued from those who imported the product.

If you are borrowed 10k to buy bread. If you stop borrowing to buy bread, you still have to pay the 10k yoitllu borrowed.

The difference is, your bread debt won't increase again.

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?

the supply of dollar almost equally dropped as the crude volume being sold to provide petrodollar reduced. As soon as dangote repays his loans and exports to earn dollar, dollar supply will start increasing against demand and prices will likely go down as Naira strengthens.

Another angle is local priduction of PE parts and produces. The raw plastic matwrial coming out of dangote refinery can be used to power small engineering industries. Production of household plastic items. Electronics casing n parts, kitchen utensils, furnitures, interior decor, agric kits, car parts, toys, and more. Imagine producing them locally and exporting to earn your profit in dollar. That leaves peoppe with more dollar/forex to sell or supply against dwindling demand.

CodeTemplarr:
the supply of dollar almost equally dropped as the crude volume being sold to provide petrodollar reduced. As soon as dangote repays his loans and exports to earn dollar, dollar supply will start increasing against demand and prices will likely go down as Naira strengthens.

Another angle is local priduction of PE parts and produces. The raw plastic matwrial coming out of dangote refinery can be used to power small engineering industries. Production of household plastic items. Electronics casing n parts, kitchen utensils, furnitures, interior decor, agric kits, car parts, toys, and more. Imagine producing them locally and exporting to earn your profit in dollar. That leaves peoppe with more dollar/forex to sell or supply against dwindling demand.

Sounds like excusesssssss

Normal Normal FX would have been used to import if there was no Dangote refinery.

Na dat dollar and the effect i dey ask about

Softmirror:


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.

Dey play. You must be an APC er

Solsix:

Dey play. You must be an APC er

Na dem na

They usually keep their brains somewhere before engagements

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?

Naira will appreciate with time but little. Do you know Dangote sources for FX to buy crude oil overseas?