Nigerian economy is on autopilot ATM, our so called leaders know what it takes to jump start the economy, but they'd rather play to the gallery.

mrvitalis:

Anyone can claim aby qualifications on a Faceless forum... So I won't bother

Her analysis were based on government provided data

Taking into consideration the rampant printing of naira from thin air, reduced earnings

You can plot the graph easily and extrapolate my figure it's not hard

But it's an opinion n that's it can ever be

Smh @ the bolded. No wonder, you don't even know who Bismarck Rewane is.
Never mind again sir.

I exchange it yesterday for 1265 per dollar
Useless aboki naira

TrumpDonald2:
FreestuffNG or whatever you call yourself here. Ever since this administration, you have been posting statistics. I want to ask you and your Oga 'na statistics we go chop'?

Now it's no longer statistics, it's now expert opinion. When the naira and dollar are now trading freely? So who is under valuing it? You and your Oga are both cluesless and cornfused.

All you can do is to shoot your mouth off with zilch knowledge about how these things work. Ariwo ko ni music

FreeStuffsNG:
His words, “The naira is undervalued by 33.58 percent at the parallel market rate of N1,285 per dollar and 4.16 percent at the NAFEM rate of N890.54 percent.”

He shut down the opinion of some analysts that the country needs to spend less, arguing that what the nation needs to do is to spend efficiently and not less.

Brilliant economic analysis by Mr Bismarck Rewane that many will still fail or struggle to comprehend. Smh.

Keep your naira! Naira is currently undervalued. If you exchange your naira for a USD, you are actually exchanging your wealth for poverty by overpaying for the overvalued US dollar.

Expect a boon in the economy and a massive leap in our national aggregate output. Subsidy removal alone will fetch us about N4 Trillion while free float of the naira fetches Nigeria another N4 trillion, this total N8 trillion would have been converted to US dollars and exported overseas but for the brilliant and patriotic leadership of President Bola Ahmed Tinubu.
May God bless Nigeria for ever! Check my signature for free stuffs!

You and those who liked your comment should be in the joke section of NL.

mrvitalis:
I don't know what metrics he is using but for me naira is over valued at 1300

If I were president I would devalue to #1700 then aggressively defend it there as I would have the liquidity to do so

Key thing is we need to identify key areas we have global comparative advantage.. ( what we can produce cheaper than most part of the world or what we have the potential to produce cheaper than most of the world) and heavily provide credit facility to this sectors

Driving export, increasing for example earnings

If we remove the subsidy on electricity and invest 700bn as loans to bank at 3% interest rate to be given to only players in the cassavacassava/ sweet potato to ethanol industry... I believe we can catapult that industry to a multi billion dollars industry creating millions of jobs and getting our investment in 10 years max

with the criminals in power Nigeria is going no where.

FreeStuffsNG:


https://www.vanguardngr.com/2024/01/naira-under-valued-in-official-parallel-forex-markets-rewane/

Eh be like say the thing no favour them and their family again

Bhella5:
All you can do is to shoot your mouth off with zilch knowledge about how these things work. Ariwo ko ni music

Make una dey deceive unaselves.

mrvitalis:
I don't know what metrics he is using but for me naira is over valued at 1300

If I were president I would devalue to #1700 then aggressively defend it there as I would have the liquidity to do so

Key thing is we need to identify key areas we have global comparative advantage.. ( what we can produce cheaper than most part of the world or what we have the potential to produce cheaper than most of the world) and heavily provide credit facility to this sectors

Driving export, increasing for example earnings

If we remove the subsidy on electricity and invest 700bn as loans to bank at 3% interest rate to be given to only players in the cassavacassava/ sweet potato to ethanol industry... I believe we can catapult that industry to a multi billion dollars industry creating millions of jobs and getting our investment in 10 years max

This is why you aren't an economist.. Devalue to #1700 and defend it aggressively with which liquidity.. If you are going to defend it, why devalue it in the first place?

LegendHero:


If I am the president, I will devalue it to #5000. And if anyone complain, I will vex devalue it to like #120,000.

Lets say we recatapault all our money to cassava by devaluing naira more and removing electricity subsidy and etc. can you tell me the resultant effect on other sectors of the economy?

It will be disastrous because you will be massively increasing inflation all because you want to mass produce cassava in 10 years. Na petrol subsidy we still dey battle, remove electricity tariff and that will cause more misfortune to the people.

In a country with crazy amount of Saboteurs. Even that your cassava you are planting will end up like the rice failure that happened when those farmers collected the money to be marrying wives. Now see where we are with respect to rice after all the billions that was invested.

Nigeria problem is not usually about the textbook definition. Economics in Nigeria has a lot of external factors that keep rearing their heads.

What do you know about rice farming that you're blaming the farmers for the failure of the rice policy hurriedly and haphazardly put together by your paymasters?
You're always here to play the devil's advocate. If it were PDP or any other party that was in govt, with this failed economy I'm sure you'll hang them out to dry not make mundane excuses on their behalf.

Philipmaxwell:


This is why you aren't an economist.. Devalue to #1700 and defend it aggressively with which liquidity.. If you are going to defend it, why devalue it in the first place?

If you devalue to 1700 you need less $ to pay salary and run government freeing up $ to defend the naira in the short term

FreeStuffsNG:

Smh @ the bolded. No wonder, you don't even know who Bismarck Rewane is.
Never mind again sir.

So why quote me?

mrvitalis:
I don't know what metrics he is using but for me naira is over valued at 1300

If I were president I would devalue to #1700 then aggressively defend it there as I would have the liquidity to do so

Key thing is we need to identify key areas we have global comparative advantage.. ( what we can produce cheaper than most part of the world or what we have the potential to produce cheaper than most of the world) and heavily provide credit facility to this sectors

Driving export, increasing for example earnings

If we remove the subsidy on electricity and invest 700bn as loans to bank at 3% interest rate to be given to only players in the cassavacassava/ sweet potato to ethanol industry... I believe we can catapult that industry to a multi billion dollars industry creating millions of jobs and getting our investment in 10 years max

Where did you learn this kind of stupid economics from that has been proven overtime that it doesn't work in Nigeria. With this kind of economic analysis, we do not need external forces to destroy Nigeria.

Kukutente23:

What do you know about rice farming that you're blaming the farmers for the failure of the rice policy hurriedly and haphazardly put together by your paymasters?
You're always here to play the devil's advocate. If it were PDP or any other party that was in govt, with this failed economy I'm sure you'll hang them out to dry not make mundane excuses on their behalf.

Okay let’s not blame the farmers that embezzle some of the money with their cronies in government. Let’s just pretend that all Nigerians are holy holy and the Buhari was the one that siphoned all the money.

I’m sure like that, you’ll be very happy.

Go and bring the best fool proof plan from heaven, Nigeria will still game you. Its very easy to blame government from the outside, almost all Nigerians have the solution to our problem until they get to power.

I don’t know why you think I’m defending Buhari tho. E no go better for Buhari anywhere he dey, she na him dey pay my bills ni?

hisexcellency34:
All these nonsense analysts. Buhari invited this man but he couldn't do anything. Tinubu has invited another analyst Tope Fasua but naira keeps falling

How will the Naira not be falling when we have lazy things like you in millions that add no value to society?

If I lie, declare When last you got inflow of forex be it dollars, sterling’, euros into your bank aza?

Anatolia:


Where did you learn this kind of stupid economics from that has been proven overtime that it doesn't work in Nigeria. With this kind of economic analysis, we do not need external forces to destroy Nigeria.

Has this ever been done in Nigeria? Never

You just borrow money to build infrastructure that's what you have been doing since 1960

Infrastructure doesn't drive economic growth

FreeStuffsNG:
His words, “The naira is undervalued by 33.58 percent at the parallel market rate of N1,285 per dollar and 4.16 percent at the NAFEM rate of N890.54 percent.”


He shut down the opinion of some analysts that the country needs to spend less, arguing that what the nation needs to do is to spend efficiently and not less.

Brilliant economic analysis by Mr Bismarck Rewane that many will still fail or struggle to comprehend. Smh.

Keep your naira! Naira is currently undervalued. If you exchange your naira for a USD, you are actually exchanging your wealth for poverty by overpaying for the overvalued US dollar.

Expect a boon in the economy and a massive leap in our national aggregate output. Subsidy removal alone will fetch us about N4 Trillion while free float of the naira fetches Nigeria another N4 trillion, this total N8 trillion would have been converted to US dollars and exported overseas but for the brilliant and patriotic leadership of President Bola Ahmed Tinubu.
May God bless Nigeria for ever! Check my signature for free stuffs!

Absolute gibberish!! you can try as hard as you want to make it sound positive but it is all gibberish!


Tifnubu has ruined Naigerian economy, Tifnubu has nothing to offer Naigerians, Tifnubu is corrupt up to his eye balls.


You can keep dreaming... nothing wrong with dreaming. Every morron has become unqualified self appointed economy analysts and adviser on Nairaland.

Every morron has become economic adviser in the Zhoo.

LegendHero:


Okay let’s not blame the farmers that embezzle some of the money with their cronies in government. Let’s just pretend that all Nigerians are holy holy and the Buhari was the one that siphoned all the money.

I’m sure like that, you’ll be very happy.

Go and bring the best fool proof plan from heaven, Nigeria will still game you. Its very easy to blame government from the outside, almost all Nigerians have the solution to our problem until they get to power.

I don’t know why you think I’m defending Buhari tho. E no go better for Buhari anywhere he dey, she na him dey pay my bills ni?

You are absolutely correct in your assertion.

LegendHero:


If I am the president, I will devalue it to #5000. And if anyone complain, I will vex devalue it to like #120,000. Do you see how that sound?

Lets say we recatapault all our money to cassava by devaluing naira more and removing electricity subsidy and etc. can you tell me the resultant effect on other sectors of the economy?

It will be disastrous because you will be massively increasing inflation all because you want to mass produce cassava in 10 years. Na petrol subsidy we still dey battle, remove electricity tariff and that will cause more misfortune to the people.

In a country with crazy amount of Saboteurs. Even that your cassava you are planting will end up like the rice failure that happened when those farmers collected the money to be marrying wives. Now see where we are with respect to rice after all the billions that was invested.

Nigeria problem is not usually about the textbook definition. Economics in Nigeria has a lot of external factors that keep rearing their heads.

That economic advice of the guy you quoted should be discarded into the trash can.

Calitoscassius:
Absolute gibberish!! you can try as hard as you want to make it sound positive but it is all gibberish!


Tifnubu has ruined Naigerian economy, Tifnubu has nothing to offer Naigerians, Tifnubu is corrupt up to his eye balls.


You can keep dreaming... nothing wrong with dreaming. Every morron has become unqualified self appointed economy analysts and adviser on Nairaland.

Lazy Almijiri be waiting for Tinubu to come & reverse your misery.

You no get shame.

He is right.

The Naira (at the street rate 1,300) is undervalued by 33% with respect to the official rate(856).

It means that the real value is 1,300

More rubbish! the zhoo is going down the drain..

mrvitalis:

Has this ever been done in Nigeria? Never

You just borrow money to build infrastructure that's what you have been doing since 1960

Infrastructure doesn't drive economic growth

Have you heard of the structural adjustment program instituted by Babangida in the late 80's and early 90's?

favor914:
Lazy Almijiri be waiting for Tinubu to come & reverse your misery.

You no get shame.

Yea, just like your lazy almajiri father and generations


Your father no get shame.

FreeStuffsNG:
His words, “The naira is undervalued by 33.58 percent at the parallel market rate of N1,285 per dollar and 4.16 percent at the NAFEM rate of N890.54 percent.”


He shut down the opinion of some analysts that the country needs to spend less, arguing that what the nation needs to do is to spend efficiently and not less.

Brilliant economic analysis by Mr Bismarck Rewane that many will still fail or struggle to comprehend. Smh.

Keep your naira! Naira is currently undervalued. If you exchange your naira for a USD, you are actually exchanging your wealth for poverty by overpaying for the overvalued US dollar.

Expect a boon in the economy and a massive leap in our national aggregate output. Subsidy removal alone will fetch us about N4 Trillion while free float of the naira fetches Nigeria another N4 trillion, this total N8 trillion would have been converted to US dollars and exported overseas but for the brilliant and patriotic leadership of President Bola Ahmed Tinubu.
May God bless Nigeria for ever! Check my signature for free stuffs!

This indeed looks more like a joke!

Anatolia:


Have you heard of the structural adjustment program instituted by Babangida in the late 80's and early 90's?

Yes devaluing is one thing, providing access to credit to drive local industries that you have comparative advantage is the Koko

favor914:
How will the Naira not be falling when we have lazy things like you in millions that add no value to society?

If I lie, declare When last you got inflow of forex be it dollars, sterling’, euros into your bank aza?

Stop insulting the guy. Is it not the foolish policy of Tinubu to devalue the naira that led to the free fall of the Naira. Devaluation of currency only favors countries like China which have high production export and gives then a competitive edge. But for a backward and import-dependent country such as Nigeria, devaluation only inflicts unbearable hardship on the people. We can see that in the number of young people committing suicides, frauds and those who want to japa.

Any country in the world thats is facing inflation there is massive corruption in that country.

There was massive corruption and looting in buhari administration that was the reason the dollar rate was so high to the extent they start defending the naira.

When amechi was borrowing money from china and wasting them on railway that leads to no where. All those projects are economy sabotage.

The inflation in abacha administration was so much that Nigerians move from cooking with kerosene to wood dust in the 90s, same thing in the 80s when buhari was still there.

The fact abacha loot is still been repatriated to this day is a testament to the fact that corruption was so massive in the last administration; the NNPC and Oil thief’s, project scams, CBN e.t.c. Trader loan scam, school feeding scam, rice farmer scam with fake rice pyramid

It’s time we dissolve Nigeria and let every region find there new destiny.

LegendHero:


Okay let’s not blame the farmers that embezzle some of the money with their cronies in government. Let’s just pretend that all Nigerians are holy holy and the Buhari was the one that siphoned all the money.

I’m sure like that, you’ll be very happy.

Go and bring the best fool proof plan from heaven, Nigeria will still game you. Its very easy to blame government from the outside, almost all Nigerians have the solution to our problem until they get to power.

I don’t know why you think I’m defending Buhari tho. E no go better for Buhari anywhere he dey, she na him dey pay my bills ni?

Oga no farmer embezzled any money. The highest most farmers got was 45k and a knapsack and fertilizer.
The real people who embezzled the money was an APC group that called themselves rice farmer association of Nigeria RIFAN. No one heard about any RIFAN until APC took govt yet your govt was gullible enough to disburse billions through them and other APC henchmen planted in NIRSAL. Majority of the money was disbursed through NIRSAL. So blame you're thieving APC and their goons instead of innocent farmers.
And it's sweet to see you can curse Buhari now. 8 years who he was whiter than snow to you and your likes. Everyone knows your antecedent on this forum. Because you wan chop meat you called Cow Egbon

Kukutente23:

Oga no farmer embezzled any money. The highest most farmers got was 45k and a knapsack and fertilizer.
The real people who embezzled the money was an APC group that called themselves rice farmer association of Nigeria RIFAN. No one heard about any RIFAN until APC took govt yet your govt was gullible enough to disburse billions through them and other APC henchmen planted in NIRSAL. Majority of the money was disbursed through NIRSAL. So blame you're thieving APC and their goons instead of innocent farmers.

Na now I know say you no know wetin you Dey talk about.

45m koor, 18k ni.

To save your ignorance, below is the structure and you can see Punch report on this. Real farmers got the money and most of them embezzled it.

Government agency also use some of their corrupt cronies as front to siphon the money. It is a government workers- Farmer heist.

It will take someone that has primary 2 student brain to call those “Farmers” innocent. Innocent Wetin?

Even for ordinary Covid- fund wey government borrow ordinary people, they still embezzle am wey them dey hustle run repay. Shey that one too na RIFAN.

https://punchng.com/pressure-mounts-on-rice-farmers-as-cbn-massive-loan-repayment-deadline-nears/?amp