We’re now past the middle of the month of January, and boy, I just have to say that this month has been one of the most unpredictable ones in a list of unpredictable Januaries. Many people assumed that January was going to be tough and difficult, being as long as three months after everyone had done their Detty December and went to oblee all their life savings.
But then, crypto came to the rescue. Not just in Hive, but there was a lot of green towards the end of last year and earlier this month that was able to help a lot of people brave the tough months. So for many people, the detty was just not done yet. As a matter of fact, it’s still happening.
Scratch that, it might be coming to an end, sadly. Today is just the 20th of January and so much has happened already. Many things happened in December that looked good for the future but now they look like they’re only getting worse.
In December, we found out that the price of the naira to the dollar was finally gaining. Naira was getting stronger by the day. The closer we got to Christmas, the more naira gained. However, there was an explanation for this; many Nigerians overseas were coming home to Nigeria for the holidays, and as expected, there was a large demand for naira. That was what drove the value up because so many people wanted to get their hands on it.
At first, I thought that we were finally seeing the naira gain some ground against the naira, but we were wrong. It was clear as day that once the holiday was over, and all the IJGB returned to their countries of residence, their demand for foreign currencies would reduce, causing the naira to slump even further. And just as expected, it’s already happening. And we all know what happens when the price of the dollar goes up, everything else goes up in Nigeria. Except for earnings, of course. Those ones seem to be allergic to going up.
Another thing that was fascinating about December was the price of fuel. I’m still confused about the whole thing and I’m still not sure of the economics of it all. However, the price of fuel was reduced in December. I don’t know if it was subsidized more than usual, or Dangote simply decided to reduce the price of his fuel. Then, I heard about the refinery in Port Harcourt creating competition for Dangote which was also helping to reduce the price of fuel.
We got all that in December, and also in January. As of last weekend, we were buying fuel here for almost N900 per liter. It’s not how it used to be, but it was better than buying it at N1200 that we were buying it before. Sadly, despite expecting the fuel to keep going down, there was suddenly a turn-around. I saw on the news that the price of fuel was going to go up again. So far, they’re blaming it on the rising cost of crude oil, and the dollar… blah, blah, blah… but we know what’s going on.
Greed is taking effect once more. Christmas is over and their goodwill is done. Now, it’s time to make all the money they gave up during Christmas. There’s no explanation I could be given that could possibly make any sense to me. Because I know we have the crude oil, we also have two functioning refineries in Lagos and Port Harcourt. So, it doesn’t make any sense that we’re buying it expensive. I’m sure there could be some explanation for it all, but I’m still not buying it.
Either today or tomorrow, depending on how I use power, I could end up buying fuel once more, so I’d find out if the hike has taken effect yet. Either way, so many things are happening. But then, there is still a reason to smile because it’s not all bad. More goodies are still happening in January! On the day of his inauguration, Trump released a memecoin which has been making massive gains for everyone who jumped on the trend. I don’t know the status now, I’ve not checked back on it since this morning.
January is turning out to be a great month indeed, full of ups and downs. And in my opinion, it’s a good way to kick start the year. I’m sure that February will come with lots more goodies like this. I know that a dip is coming soon, and I’m preparing for that so when the next surge happens, I won’t be caught slacking.
So far so good, I’m not sad about 2025! I look forward to many more to come!!!
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