michlins:
to the average Joe on the street and pa and ma in rural areas, they want results not English explanations of what went wrong or what should have happened.


Unfortunately this government love tales and reeling out policies which they don't back with real actions.

A bigger problem is on the horizon if food insecurity isn't tackled ASAP. Government should as a matter of urgency import basic food and flood the markets.

There are savings from subsidy running into billions

Ibrahimcoomasie:


https://www.vanguardngr.com/2024/02/speculators-undermine-measures-to-stabilize-foreign-exchange-market-ribadu/amp/

Godfullsam:
If the issue fx scarcity must end, the president has to be ready to step on toes.

Most bank officials, government officials, law makers, governors and the president himself are hoarding dollars in their various homes.

No body has the right to own dollars at all, it is not our legal tender.
Government should go after these dollar slaves, ransack their homes and jail anyone found with any foreign currency.

The government should end the activities of bureau de change with immediate effect and convert every dollar accounts in various banks to naira equivalents.
Government impose 300% tax on importation of luxury goods also.

Government should take the fight against corruption and economic saboteur serious .

Trials, prosecution and possible execution of these criminals should be done on live television for all to see and learn.
Government should include subjects that has to do with patriotism into school curriculum.

Our current leaders are a product of the society.

Ibrahimcoomasie:


https://www.vanguardngr.com/2024/02/speculators-undermine-measures-to-stabilize-foreign-exchange-market-ribadu/amp/

NovusHomo:

Interesting. So if I have leftover $s and I am catching a flight to Lagos, I should throw those $s in a trash can at the airport before boarding? Seriously, most Nigerians need information on how things work. I'll tell you what; the US doesn't give a s**t about how much foreign currency you bring into the country. Most of them can't compete with the $ anyway. Just declare it's value in $s. Beyond a certain limit, justify possession and explain why you need so much. The same with taking out $s. Any amount above $10,000 will require that you declare it in a form to be filled out by you for the same reason. Valuable currencies don't need protection.

mrvitalis:
Speculation is part of forex or any business in the world

Was there not speculators under PDP?
Was there not speculators when naira was stable?

The issue is not speculators the issue is this

Because of the rush to say we floated the naira.. Tinubu floated and unstable currency causing panic, people like me who don't need dollars in the near futures started demanding for dollars, which caused more instability

You guys don't even know the cause of the problem... There is no faith on the naira that's the fundamental issue

Tinubu government doesn't inspire faith at all

post=128559040:

One of the solution to what we have on ground,
Then we have more....



The major problems are massive depreciation of naira, rising cost of production and what looks like galloping inflation.
We support most of the measures taken but not the modus operandi.
The provision of palliatives by FG through states was good but the states did not implement the palliatives simultaneously.
Some have not even been implemented till now.
So, the conditions have worsened for many citizens.
There’s a need to check what happens with palliative implementation in troubled states.

More solutions...
Improvement in farming, agriculture and industrial production will solve the problems with financial and fiscal interventions and reduction in security problems.
Then we start working on production with largely domestic inputs.
For exchange rate, there is a need to ban importation of some products relating to food and clothing, go for a moratorium on some debts, and increase oil and gas exports with proceeds to solve debt repayment and servicing with excess as reserves for intervention in the FX market.

Nigeria 🇳🇬 will be great in our lifetime.

We Rise ✔️