i disagree with soludo on the price of $1 and reserve


If the price of oil drop. The govt is force to make up the difference of the budget by either increasing personal taxes or company taxes. Or devalue the currency.


I think the best decision to devalue the currency is this most appropriate think to do. It means person taxes does not increase.

And you will expect more dollar to come into the economy. I have talk so powerful people of having a power programming to get rid of the dollar forex market. Which makes it easy for people to have access to the dollar. Any interest party can contact me delemusiwa@gmail.com.

2. The second issue of reserve. I believe the reserve is best this way.


If oil price fall. The only senseble thing to do is devalue the currency. And this is what iweala did.

The reason for poverty, is the currency.


This is a trade treaty . so western Nigeria is expected by international law to have its own currency apart from the naira.

Government had 2 source of income.
1 taxes from personal,company and other taxes
2 income from oil and other mineral paid in dollar.

There is a drop in number 2/

Which reduce the budget. It mean to get the same amount of naira equivalent of number 2. The government most devalue naira to make the same amount of revenue from number 2. To have the total same income for its budget.


So soludo is wrong. Ngozi iweala is right.

It makes more external investor friendly too

Your comments make more sense this time around; unlike those inexplicable rantings about western Nigeria, etc, etc.

The most important issue Soludo raised is the depletion of the foreign reserves from about $62 billion when Jonathan took over to $41 billion as at December 2014 even with the boom in oil prices.

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