Rousehil1:
then the govt should on the price of fuel.

Subsidies on diesel are now impossible because we really don't have the money.

We have had chronically low oil prices since 2014. As a result, we had to start taking more and more loans. BY 2023, May, the results were in. 90% of our revenue was going to debt service.

Tinubu had to do a partial removal of fuel subsidy to get more money for the exchequer, as well as to float the naira to release more money too for the exchequer. If not, ....

And tinubu's hand was forced. Perhaps if he had supported GEJ's subsidy removal in 2012, him and buhari, by now, we might have had more money.

Dennisochampa:


So what if things have gotten worse..
Let's say you wake up and meet dollar selling at N2,500, what will be your reaction?
No one is celebrating mediocrity but this time last 2 months, it was worse than this and that's the point...
This post is not meant to say that the economy has fully recovered, but it means that there is real hope that things will improve.....

exactly...

Alot of people will still see a reason to criticize this news..
While it's not the best news.... It's certainly not the worst...
So what if things have gotten worse..
Let's say you wake up and meet dollar selling at N2,500, what will be your reaction?
No one is celebrating mediocrity but this time last 2 months, it was worse than this and that's the point...
This post is not meant to say that the economy has fully recovered, but it means that there is real hope that things will improve.....
If naira continues to appreciate @ dis rate... Then it's a positive sign that things will get better with time

Ebubu2:
why are they particularly transported by diesel trucks? What can diesel truck do that fuel truck cannot do?

Well, diesel trucks are more reliable.And the only petrol trucks available are the small ones ...which cannot transport a large amount of tomatoes at once.

nairalanda1:


Subsidies on diesel are now impossible because we really don't have the money.

We have had chronically low oil prices since 2014. As a result, we had to start taking more and more loans. BY 2023, May, the results were in. 90% of our revenue was going to debt service.

Tinubu had to do a partial removal of fuel subsidy to get more money for the exchequer, as well as to float the naira to release more money too for the exchequer. If not, ....

And tinubu's hand was forced. Perhaps if he had supported GEJ's subsidy removal in 2012, him and buhari, by now, we might have had more money.

if Nigeria does not have money, which 200m naira each were senators sharing among themselves?

MrSundry:
I expect 4 sets of people to land on this thread:

1. The "dollar should go back to the #600 it was before the floating" crew;

2. The "enemies of Nigeria won't be happy with this news" crew;

3. The "when will the prices of goods reduce" crew.

4. The "non- partisan and unbiased news reader" crew.

What about the "dollar should hit #2500 already crew?

vowiski:
Lol,

Oshiomole style of leadership as NLC chairman.

They both know fuel will increase by N5. Government Increase fuel by N10. Everyone shouts and Oshiomole jumps round the Country.

Fuel reduces by N5. The original plan of the government, Masses say Fuel has reduced and Oshiomole try oooo.

Tinubu increases exchange rate to N1880. They know the economy is N1300-1400.

They bring it down to N1300-1400. Masses scream, Naira is appreciating.

I am forced to ask; Naira is appreciating from where ? Where did the present government meet it?


You can see the smoke and screen?

This is a wonderful piece, thank you for opening the eyes of those gullible and uneducated follower of this clueless regime.

Dennisochampa:
Alot of people will still see a reason to criticize this news..
While it's not the best news.... It's certainly not the worst...
So what if things have gotten worse..
Let's say you wake up and meet dollar selling at N2,500, what will be your reaction?
No one is celebrating mediocrity but this time last 2 months, it was worse than this and that's the point...
This post is not meant to say that the economy has fully recovered, but it means that there is real hope that things will improve.....
If naira continues to appreciate @ dis rate... Then it's a positive sign that things will get better with time

you are correct. pls help us analyse this poster below

It's now 1225

[quote author=lexy2014 post=129178725][/quote]

I still sold 750 usd at 1310 Eko hotel at about 4 pm yesterday 29 March 2024.

The naira is not stable yet, but to say the swings and the appreciation at least from last month is government propaganda is ignorance or pure deceit to a selfish or group agenda.

That's my point.

Dennisochampa:


So what if things have gotten worse..
Let's say you wake up and meet dollar selling at N2,500, what will be your reaction?
No one is celebrating mediocrity but this time last 2 months, it was worse than this and that's the point...
This post is not meant to say that the economy has fully recovered, but it means that there is real hope that things will improve.....

For a government of the same people that lied to Nigerians for 8 years that Buhari was doing well when in reality he was destroying the economy, only to be doing the same thing again, It’s interesting that you choose to believe them again without fact checking for yourself.

lexy2014:


if Nigeria does not have money, which 200m naira each were senators sharing among themselves?

Because of the way our economy is set up...we share money, not make money

And he who is close to the sharing of the money is going to steal from it. It is effing sad, but here we are.

We have a political class that is not interested in reforming the laws to fix the matter

Finally...200million naira , as bad as it is, would give up to 20 billion naira. Subsidy costs for one month are in the region of 900 Billion naira as at february, and as much as I agree the money should go to the Nigerian people ....it won't make a dent in our subsidy cost for a month.

tunjiajayi:


I still sold 750 usd at 1310 Eko hotel at about 4 pm yesterday 29 March 2024.

The naira is not stable yet, but to say the swings and the appreciation at least from last month is ignorance or pure deceit to a selfish or group agenda.

That's my point.

what point is that? cos I dont see it in what you just said

This is actually true . I called one aboki early this week and he said dollar is #1310 . I was shocked. Let's naira continue to appreciate.

Things will surely improve with time

nairalanda1:


Because of the way our economy is set up...we share money, not make money

And he who is close to the sharing of the money is going to steal from it. It is effing sad, but here we are.

We have a political class that is not interested in reforming the laws to fix the matter

Finally...200million naira , as bad as it is, would give up to 20 billion naira. Subsidy costs for one month are in the region of 900 Billion naira as at february, and as much as I agree the money should go to the Nigerian people ....it won't make a dent in our subsidy cost for a month.

that is not what I asked you.

if Nigeria does not have money, which 200m naira each were senators sharing among themselves?

MrSundry:
I expect 4 sets of people to land on this thread:

1. The "dollar should go back to the #600 it was before the floating" crew;

2. The "enemies of Nigeria won't be happy with this news" crew;

3. The "when will the prices of goods reduce" crew.

4. The "non- partisan and unbiased news reader" crew.

What category do you fall under, yes I meant you ?

And seems only ibos are angry with any progress this country is experiencing

YourKarma:


It seems it's only Yorubas who are swallowing every bullshit news from this government.
I guess it's because it's their brother who is at the helm of affairs

Abdul05:

I Know some people won't be happy about this good news ..

See..when we talk about economics one can see that president tinubu knows the subject very well .

Una deserve una leaders walahi.
What was the rate when Tinubu became president? All these updates na the more you look the less you see if dollar isn't below 700.
If i head you ehn.

WeddingParol:
Those praying for Nigeria to fail will not like this news.

All their states are filled with corruptions and non performing politicians but they careless about that.

They filled all the social media platforms with hate and negative narratives about Nigeria 🇳🇬 publicly praying for the country leadership to fail.

Don't worry, you will all reap what you sow.

Nobody is praying for Nigeria to fail except you and your evil APC party.

Buhari met dollar at N216 in 2015 and APC said the exchange rate was too high. Buhari handed over to tinunu with dollar at N700. In less than 9months Tinubu trial and error policies took dollar to almost N2000.

And now he is reversing all the senseless policies after people have suffered a great deal.
Floating naira - reversed
Subsidy is gone - reversed

These two foolish decisions increased prices of transportation, food and essential commodities in the market

So what was the whole point of suffering Nigerians. Fuel and exchange rate is now more expensive yet government is still paying subsidy and defending naira with billions every week

If you are looking for the enemies of Nigeria, it is APC and minions like you who sing their praises

lexy2014:




if Nigeria does not have money, which 200m naira each were senators sharing among themselves?

if Nigeria does not have money, which 200m naira each were senators sharing among themselves?

socialmediaman:
This government is full of propaganda.

Here’s your proof:

https://www.nairaland.com/8046241/fact-checking-numbers-cbns-announcement

Dear compatriot, are you allergic to positive news?


The recent unprecedented free fall of the Naira ought to be of utmost concern and worry to any well-meaning Nigerian.



When the currency nosedived to almost N2000 to the dollar, most people were of the belief that it would continue unabatedly.


But, behold!


Cardoso seems to have found the magic formula and it is working on a positive note.


Patriotic Nigerians implore him to continue to prove his mettle to the bewilderment of detractors who see nothing good about those they chose to hate on.


We, as good citizens, can do better by criticizing constructively and not out of bitter bile always.



@hotseat

lexy2014:


that is not what I asked you.

if Nigeria does not have money, which 200m naira each were senators sharing among themselves?

Good morning.

socialmediaman:
This government is full of propaganda.

Here’s your proof:

https://www.nairaland.com/8046241/fact-checking-numbers-cbns-announcement

Everything in ur head for now, is that Nigeria must go down, since ur own candidate failed in last election.

Spuggie:
Tinubu should at least leave it where he met it.

The same for pump price of fuel, leave it where you met it in the very least.

We can't still be paying subsidy and buying fuel at over 600naira.

even throughout d world prices of goods have changed but here u want Nigeria a struggling country to take price back to 600

Now I know y they call u all wailers

lexy2014:


what point is that? cos I dont see it in what you just said

That the appreciation of the naira is NOT government propaganda!

WeddingParol:
Those praying for Nigeria to fail will not like this news.

All their states are filled with corruptions and non performing politicians but they careless about that.

They filled all the social media platforms with hate and negative narratives about Nigeria 🇳🇬 publicly praying for the country leadership to fail.

Don't worry, you will all reap what you sow.

Nobody is praying for the country to fall rather majority of people on social media are saying the present govt are clueless. It is in the hands of the govt to prove us wrong by performing beyond expectations.

Pls let it get to #600 Baba left it & then to #165 dat PDP Left it!

Pls, na beg we dey!
🙏

Foolish comment Dollar is coming down below ₦1000. Take that to any bank in Biafra.

vowiski:
Lol,

Oshiomole style of leadership as NLC chairman.

They both know fuel will increase by N5. Government Increase fuel by N10. Everyone shouts and Oshiomole jumps round the Country.

Fuel reduces by N5. The original plan of the government, Masses say Fuel has reduced and Oshiomole try oooo.

Tinubu increases exchange rate to N1880. They know the economy is N1300-1400.

They bring it down to N1300-1400. Masses scream, Naira is appreciating.

I am forced to ask; Naira is appreciating from where ? Where did the present government meet it?


You can see the smoke and screen?

WeddingParol:
Those praying for Nigeria to fail will not like this news.

All their states are filled with corruptions and non performing politicians but they careless about that.

They filled all the social media platforms with hate and negative narratives about Nigeria 🇳🇬 publicly praying for the country leadership to fail.

Don't worry, you will all reap what you sow.

who wants Nigeria to fail?



thundaaa!

socialmediaman:
This government is full of propaganda.

Here’s your proof:

https://www.nairaland.com/8046241/fact-checking-numbers-cbns-announcement

you've started crying and wailing again, don't worry you still have 7 years to cry

nakaman:
I guess it's time to buy, traders advise me

This is the worst time to buy dollar.

MichaelSokoto:

who wants Nigeria to fail?



thundaaa!

forget the Sokoto in your name we know you're a biafran.