joyandfaith:
Floating of naira is a bad idea. Forever restriction on 43 items doesn't make sense.

leokid866:
who told you they are the only power supplier? I live in Ogun and I have near 21 hours light.....I also have a bakery and light is the least of our problems

Bovis:
CBN created the problems through Emefiele Naira redesign policy. Most of the naira he confiscated were not destroyed and have now found their way back into the system through corrupt CBN staff.

fx45:
Who voted for him? Maybe you and your likes... Because of Igbophobia

VEHINTOLAR:

What's Igbophobia ? Mtcheww,that nonsense exists only in your head ! Why on earth do I need to fear any Igbo ? Igbo my foot ! You're not even in the equation as far as Nigeria is concerned ! Only mumus actually believed Peter Obi would win the last election. Believe it or not,it will be easier for a camel to pass through the eye of a needle than for any Igbo man or woman to become President of Nigeria !

I voted for Tinubu and I will do that 20 times over against any Igbo presidential candidate !

bjdon:
Almost 3 months since he was sworn in and Tinubu still not have his cabinet in place. People have been screened, how hard is it to at least get the ministers of finance, energy and industry in place?
Can you imagine a country like the US or UK going for almost 3 months without a Treasury Sec or Chancellor of the Exchequer?

We play too much in this country

Kingpowerful:
Now I have come to believe that Lagos developments are autopiloted and not any of Tinubu fallacy legacy.

obyno82:


Please are you for real? Don't you know that even Dangote himself is in dire need of FX, his refinery is not even 55% complete, forget all the paparazzi being played by Buhari and his 40 thieves.

yesloaded:


It's not the same across Ogun state and oyo state

Say what you know

Go to IBEDC Facebook page to confirm my claims

I can tell you areas enjoying steady power supply in Ibadan and some areas that enjoy less than cummulative of 1hr power supply in a month

obyno82:


haaaa!! Fear God oooo you can lie for Africa

EconomistXplain:
tinubu's major problem in the economy management is dangote who has refused to begin operation of his long awaited refinery project....

if he (dangote) does, then petrol import will stop... foreign exchange will b saved..huge demand for FX will decline...supply of FX will begin by major private firm....then naira and everything else will stabilize

obyno82:


you are smoking dried cow dung.

joyandfaith:
Floating of naira is a bad idea. Forever restriction on 43 items doesn't make sense.

joyandfaith:
Floating of naira is a bad idea. Forever restriction on 43 items doesn't make sense.

leokid866:
lol.....because you don't know it exists doesn't mean it doesn't exist......try and take a look at the electricity market and see all of its players.........

yesloaded:


You need 247 stable power supply

Adequate security

Good government policy

To achieve what you suggested

SmartPolician:



Do you know what it takes to produce something in this country?

How will you power your machines? With diesel or petrol that's very expensive?

In fact, many people would prefer to import things than produce in Nigeria because importing from China is cheaper than producing in Nigeria.

Nigeria has no enabling infrastructure for driving businesses like steady power supply. If you run on diesel, you will incur huge losses.

9jatriot:
Hmmm, would this not give victory to the so called cabal who need us to continue the regime of subsidy.

Is it possible they are the ones fighting back and fighting dirty? Many of the things you have suggested look like things we have been trying since God knows when. Take the issue of repairing the refineries. Remember Kachukwu (former minister of petroleum) staked his reputation then that the refinery under his watch will start working in 2 years also.

With all news coming from CBN, can we really afford to continue with trying to defend the naira? As a matter of fact, if we even get the dollar component right, the subsidy removal will resolve itself. If the dollar takes a consistent value for about 1 year, then industries can plan better but when today it is 800, tomorrow it jumps straight to 850 and now even 805 then all the permutations goes out of the window.

For me, it is the dollar part that worries me the most.

SmartPolician:
For floating the naira knowing that Nigeria runs an import-dependent economy, Ebola no just get sense. $1 may reach #1k before December 2023.

AsomughaChuks05:
This is an opportunity for Nigerian entrepreneurs to start local manufacturing of most of the things Nigeria imports. It is the only panacea to reverse high rate of joblessness in the economy. It is an apt response to the current situation of the economy. Check out Japan. They became the second largest economy in the world until recently by heavily devaluing their currency against the dollar. Tinubu is on the right path.

Cromagnon:
so making cbn governor round tripping God is a good idea?
Has naira ever sold at noon float price? Or black market

CodeTemplar:
it wasn't really a bad idea but was done hastily and wrongly.
If refineries were working and no dollar was needed for import of petrol, diesel and kerosene or gas, that would have gone a very long way in reducing the current demand of dollar and kept Naira much stronger.

Even petrol subsidy could have been maintained had the leakages they alleged was confronted for what it was - corruption - but they were only after cosmetics measures that will swing indices briefly. Economics is 99% production centered, we missed that part in black Africa.

SalamRushdie:
I called this first many weeks ago and I never call Anything wrong ..like I said then Tinubu had lost control of of the economy because of his poorly implemented fuel and Naira deregulation and remember I predicted that that naira will get to 1200 to a dollar and Petro 1050 per litre abd Tinubu will be forced to start regulating them again other to save his govt from a popular uprising....Nigerians will be the ultimate losers