Absolutely meaningless I swear

Biodun556:

“We should realise that the naira is tumbling because we have not been producing for years.”

Very true, which makes it surprising that Utomi helped Tinubu’s victory by dragging Peter Obi into communist LP labourers camp.

“’I cannot take anything back about Obi. I said Obi said he wants to move Nigeria back from consumption to production and I said that is not true. He cannot do it because his own business survives on consumption. Is that a lie? He has been an importer and I said he deals with cash and carry economics; container economics, imports”.

“All the goods that can be produced in Nigeria, Obi imports them in his supermarkets. That is consumption economics. That kind of person cannot tell you that he is moving you from consumption to production. He will then be committing self-economic suicide and Obi will not do that to himself”.

“So, Obi is deceiving everybody and I can’t take that back because that is true.

https://independent.ng/peter-obi-deceiving-everybody-i-wont-retract-my-statement-about-him-dele-alake/

casualobserver:
This is exactly what I have been saying. We have developed bad habits over the years. It is only through pain that people change bad habits.

The reforms are doing exactly what they are meant to do. To encourage exports, unfortunately the initial pain is severe because for now the only thing we have to export is food.

That isnt all bad for starters, cocoa, rubber, oil palm, rice, wheat, we have the capacity, we only need the governors and lga chairmen to key in.

Many of these obidient shindren non even know say, Utomi is tactifully supporting the stands of the man Tinubu. Apart from that stupid loan NNPCl went to take, I am not sure there has been any other loan to shore up the naira.

Now is the best time for anyone serious about going into production and export.

inoki247:
Lol wetin people want if dem defend the Naira una go complain as dem no defend Naira again we can see the disaster....

To the extent that Dollar is affecting Garri and Groundnut wey we no import...

the people selling groundnut and garri needs to increase price so they can buy other commodities that has gone up. Na simple logic that's why dollar dey affect everything. Abi na you wan sell at lost? Person when dey sell garri and groundnut no go buy rice, no go buy fuel, abi the person no go buy cement? The way una dey reason sometimes dey funny.

It will take 2 or 3 decades for Nigeria loans to be paid.

The professor then said, “I sometimes think that what we are going through is good for Nigeria, because we need something to make us recalibrate. We have a total misconception of what economic growth is about because we have had this windfall with which we used to create big government.”

He then gave his suggestions on how to stabilise the economy saying, “My first suggestion is that we stay away from panicking, because what happens in this kind of circumstance is that they panic. They throw all kinds of policies that won’t work, and then you will go into a downward spiral. You must calm down, look at the fundamentals- why do we have this problem. Don’t get rushed into a push from outside who don’t feel the pressure, but don’t get cornered into people who just react. Just calmly look at what your national strategy should be, and systematically implement.”

Pat Utomi.

englishmart:
Taking loans to improve the Naira is counterproductive. It's just like drinking alcohol to forget your sorrows. The sorrows didn't leave, they were just suppressed. When you sober up, you return to facing the problems you're cowardly evading.
Nigeria needs a permanent solution. Until we start being productive, the Naira will keep Venezuelaing.

Emilokan has been clueless since his alleged days in Chicago. Someone who graduated from a school before it was founded.
Don't be surprised, Pablo Ecowas could be from a village in Togo.

Even Prof Pat Utomi knew that Tinubu is not doing badly.

Buhari was spending $1.5b monthly to hold the Naira from falling but Tinubu is not prepared to do so.

Let those who are dollar crazy continue to buy and keep. Hope they would stop when it gets to #5,000=$1.

All I know is that the current forex exchange rate is not market reflective. There's sabotage and enemies within.

Hydroxide:
the people selling groundnut and garri needs to increase price so they can buy other commodities that has gone up. Na simple logic that's why dollar dey affect everything. Abi na you wan sell at lost? Person when dey sell garri and groundnut no go buy rice, no go buy fuel, abi the person no go buy cement? The way una dey reason sometimes dey funny.

Lol Dem tell you na everybody dey buy foreign rice dere are people that buy the Tapa rice I guess they need Dollar to buy dat stop justifying rubbish....


If you talk Abt transportation I can still accept that or aw they make use of fuel for cost of production and need raw material from abroad wetin concern cement inside Garri no be Clay most of dem dey use create dere stove....

Producing producing producing all the time..Abeg make una shutup.Most African countries are not producive anything infact Nigeria is even more blessed with Natural resources ,human resources,but they are still far better than Nigeria.
So all this una economic format na rubbish.Benin no get anything and not even producing anything but their cefa is stronger than Naira .

Watianoengineer:
Yet they keep blaming president Tinubu as if he is the cause of the current hardship. A country that imports common toothpick and produces nothing should not be surprised when hunger comes knocking. This is why we all have to support the renewed Hope Agenda of our president in turning things around for the greater good. It won't be easy but we will all smile at the end. Let's forget that inexperienced man called Peter Obi and his shenanigans and concentrate on our repositioning our country

You didn't say this during GEJs tenure o.

You never supported another, but you want others to support you?

That's foolishness and selfishness. Nobody on this part ever succeed. The law of karma is existential.

inoki247:
Lol wetin people want if dem defend the Naira una go complain as dem no defend Naira again we can see the disaster....

To the extent that Dollar is affecting Garri and Groundnut wey we no import...

Lol. Na who tell your oga make e stop to dey defend naira? Make e comot subsidy? No be Im ogas Dem for Europe?

Shebi as e see wetin dat wan cause now, Im eye don clear?

Moral of the story? NEVER put the cart before the horse, and if you can't make something better, don't make it worse.

PS.

And oh! Almost forgot.... If you must hit the ground running, try, try, not to break the ground in the process.

Watianoengineer:
Yet they keep blaming president Tinubu as if he is the cause of the current hardship. A country that imports common toothpick and produces nothing should not be surprised when hunger comes knocking. This is why we all have to support the renewed Hope Agenda of our president in turning things around for the greater good. It won't be easy but we will all smile at the end. Let's forget that inexperienced man called Peter Obi and his shenanigans and concentrate on our repositioning our country

You didn't say this during GEJs tenure o.

You never supported another, but you want others to support you?

That's foolishness and selfishness. Nobody on this part ever succeeds. The law of karma is existential. Do to others what you want others do to you. Have a nice day.

Everything he said is what the Present Government is doing right now. Case Closed!

Biodun556:

“We should realise that the naira is tumbling because we have not been producing for years.”





https://www.arise.tv/utomi-loans-nigeria-taking-to-shore-up-naira-are-meaningless/

The real problem is that people like Utomi and his ilks were dead silent when Buhari was doing this. The foundation of the whole of these problems was from GEJ days. His administration was shortsighted and wasteful despite the abundance during his time.
What we are going through should have been faced squarely immediately after GEJ. But Buhari decided to patch the situation with loans.
It looks like that is what Tinubu will succumb to do now. That’s what our people want, nobody wants to sacrifice. Nobody cares if it’s going to be more difficult for our children in the nearest future.
THIS IS THE EXACT OPPOSITE OF THE WAY THE WHITE PEOPLE THINK.

englishmart:
Taking loans to improve the Naira is counterproductive. It's just like drinking alcohol to forget your sorrows. The sorrows didn't leave, they were just suppressed. When you sober up, you return to facing the problems you're cowardly evading.
Nigeria needs a permanent solution. Until we start being productive, the Naira will keep Venezuelaing.

Emilokan has been clueless since his alleged days in Chicago. Someone who graduated from a school before it was founded.
Don't be surprised, Pablo Ecowas could be from a village in Togo.

..And dey said he got 1st class in accounting😂the brain is not accounting anymore.

inoki247:



Lol Dem tell you na everybody dey buy foreign rice dere are people that buy the Tapa rice I guess they need Dollar to buy dat stop justifying rubbish....


If you talk Abt transportation I can still accept that or aw they make use of fuel for cost of production and need raw material from abroad wetin concern cement inside Garri no be Clay most of dem dey use create dere stove....

You try well well. You dey talk as if the local rice cheap. How much be bag of local rice? Cement is being produced locally here in Naija but e cost pass anything now. You think say garri seller or groundnut seller no fit buy cement build house naw. Okoro like yoi. those when get stores of garri and groundnut, you dey reason them like person when no fit build house. Well-done!

Watianoengineer:
Yet they keep blaming president Tinubu as if he is the cause of the current hardship. A country that imports common toothpick and produces nothing should not be surprised when hunger comes knocking. This is why we all have to support the renewed Hope Agenda of our president in turning things around for the greater good. It won't be easy but we will all smile at the end. Let's forget that inexperienced man called Peter Obi and his shenanigans and concentrate on our repositioning our country

Who asked him to float the naira?

Man is clueless. You are defending him with lies that we produce nothing. How then did our GDP grow?

inoki247:
Lol wetin people want if dem defend the Naira una go complain as dem no defend Naira again we can see the disaster....

To the extent that Dollar is affecting Garri and Groundnut wey we no import...

Read and understand what the Professor is saying.

We shouldn't be having food crisis or inflation if farmers were not scared to farm due to negligence of national and state security.

A serious leader would have swooped into that area from day one and declared a state of emergency there.

Imagine if insecurity had been handled since May to July last year (highly possible)... We would have solved close to half of our problems as a nation.

Sort out electricity generation and supply, get at least one refinery working, and subsidy removal effects would be halved within a year.

spiralwedge:
The real problem is that people like Utomi and his ilks were dead silent when Buhari was doing this. The foundation of the whole of these problems was from GEJ days. His administration was shortsighted and wasteful despite the abundance during his time.
What we are going through should have been faced squarely immediately after GEJ. But Buhari decided to patch the situation with loans.
It looks like that is what Tinubu will succumb to do now. That’s what our people want, nobody wants to sacrifice. Nobody cares if it’s going to be more difficult for our children in the nearest future.
THIS IS THE EXACT OPPOSITE OF THE WAY THE WHITE PEOPLE THINK.

Don't be shameless... Leave GEJ alone.

When he moved on the counsel of Prof. Iweala to remove subsidy and reposition the economy in 2012, wasn't your current President among those that ganged up with dumb citizens to shut down the nation?!

If subsidy had been allowed to go back then, Naira floated a year or 2 after, would we be here today?!


How long has your current President chosen to side with evil just to satisfy his personal goal of ascending that throne?!!

Tinubu is a key part of the demise of this nation... Facts!!!

Angelfrost:


Read and understand what the Professor is saying.

We shouldn't be having food crisis or inflation if farmers were not scared to farm due to negligence of national and state security.

A serious leader would have swooped into that area from day one and declared a state of emergency there.

Imagine if insecurity had been handled since May to July last year (highly possible)... We would have solved close to half of our problems as a nation.

Sort out electricity generation and supply, get at least one refinery working, and subsidy removal effects would be halved within a year.

Lol just forget that electricity aspect abg is a Rocket science to Nigeria politicians what they've been battling for how many years u believe it will be fixed in 6 month....


Is only the security aspect I agree the Govt needs to work on and with the insecurity still the people that are farming and not having issues prefer selling to neighboring countries to earn more due to currency floating so selling to neighboring countries too is adding to the hunger where most people believe they can make more through the exchange rate....

omenka1:
Master strategist won't listen to you

Utomi is actually defending Tinubu policy by making reference to Buhari

Agbegbaorogboye:

Who asked him to float the naira?

Man is clueless. You are defending him with lies that we produce nothing. How then did our GDP grow?

Floating the naira means not borrowing to defend the naira

Angelfrost:


Don't be shameless... Leave GEJ alone.

When he moved on the counsel of Prof. Iweala to remove subsidy and reposition the economy in 2012, wasn't your current President among those that ganged up with dumb citizens to shut down the nation?!

If subsidy had been allowed to go back then, Naira floated a year or 2 after, would we be here today?!


How long has your current President chosen to side with evil just to satisfy his personal goal of ascending that throne?!!

Tinubu is a key part of the demise of this nation... Facts!!!

You be mumu. So if people ganged up to shut down the nation, a sitting president with his facts and best solution should succumb?

What kind of children are on NL these days with s!ck brains


And who is even talking of subsidy? Read my comment again and tell me you don’t have comprehension problems.

spiralwedge:


You be mumu. So if people ganged up to shut down the nation, a sitting president with his facts and best solution should succumb?

What kind of children are on NL these days with s!ck brains


And who is even talking of subsidy? Read my comment again and tell me you don’t have comprehension problems.

Read my response again...

Leave GEJ the fvck alone!!!

Blaming a man who left Aso Rock over 8 years ago won't diminish the cluelessness of the clown currently there.

In the case of nigeria it’s oartyly how they are able to get forex to steal

They’ve stolen naira but can’t move it abroad

So the loans help them achieve that
Who borrows money that’s not used for anything productive?

Is like you lack comprehension ability to read and understand. You do not know he is indirectly supporting the president policies.

Neduzze5:
That's what you get when we have an incompetent President in the helm of affairs of the country.

Biodun556:
Shoring up the naira simply means defending or subsidizing the dollar while at the same time paying fuel subsidies

Tinubu is right but people won't understand

We have been operating pseudo economy for long

Even if the economy collapses completely, you'll still be here blaming past leaders and giving yourself hope about Tinubu being on the right path. Proof of that is you supporting Buhari's disastrous leadership for 8 years, then including him in past leaders who made things worse for Nigeria.

This level of Stockholm Syndrome is legendary

onez:
The mandate thief ruined the fortunes of the country with the brash and shameful way he rigged the election. The populace lost faith in project Nigeria. What we are witnessing is a direct fallout of feb 25th election.

No evidence....
Bring evidence.....you cant bring.

LP claimed they paid 774million naira to persecute a failed legal war against the Presidential election. Thief
Bunch of criminals.....
We really dodged a bullet.

Biodun556:



Floating the naira means not borrowing to defend the naira

That's not true. You guys just come up with different kinds of jargon to defend what you don't even understand
It is actually the man who floated the naira who is borrowing to defend the naira now after seeing the error of his ways
No one before him borrowed to defend the naira

socialmediaman:


Even if the economy collapses completely, you'll still be here blaming past leaders and giving yourself hope about Tinubu being on the right path. Proof of that is you supporting Buhari's disastrous leadership for 8 years, then including him in past leaders who made things worse for Nigeria.

This level of Stockholm Syndrome is legendary

Buhari shore up the naira with borrowed dollars to the extent that he was paying back the loan with crude oil for many years to come

While at the same time subsidizing fuel


Out of 1 million Plus barrels that Nigeria is producing daily. Some % of the production are used to pay back loans. Should the present government continue like that by using future generations to borrow loan?

Agbegbaorogboye:

That's not true. You guys just come up with different kinds of jargon to defend what you don't even understand
It is actually the man who floated the naira who is borrowing to defend the naira now after seeing the error of his ways
No one before him borrowed to defend the naira

Haha olodo

Floating means leaving the naira in it's original value by not supporting it