In 2014 the average exchange rate for a Dollar is N165. Today In black market dollar is almost N700.

Can Any Presidential aspirant, if elected 2023. Reduce significantly the exchange rate.

No.
The best thing the incoming president can do is to remove subsidy. By doing that, inflation will increase, thus, prices will go up.
It would take at least 8 years of good government policies before any meaningful change can be seen.

marenkurz:
No.
The best thing the incoming president can do is to remove subsidy. By doing that, inflation will increase, thus, prices will go up.
It would take at least 8 years of good government policies before any meaningful change can be seen.

Funny. Subsidy is a big trap. Even PO dat is talking about it. Won't do that. Because you can't remove it when you don't even have local production, even if you have it. It should be up to half of daily usage. Unless refineries are fixed up and new ones built within 4 years. If not, pple will go against PO so badly. Even usa is trying to subsidise dia own to cushion the effect on dia citizens. So firstof all, any govt dat is coming in should try and tackle electricity first, if that is done, d dependence on fuel will reduce.

Hahahahhaha...
So even the almighty Obination formula don't have any clue.

I pity Nigerians rooting for Obi.
Another scammer for eight years?


God forbid!

pinkgoodies:


Funny. Subsidy is a big trap. Even PO dat is talking about it. Won't do that. Because you can't remove it when you don't even have local production, even if you have it. It should be up to half of daily usage. Unless refineries are fixed up and new ones built within 4 years. If not, pple will go against PO so badly. Even usa is trying to subsidise dia own to cushion the effect on dia citizens. So firstof all, any govt dat is coming in should try and tackle electricity first, if that is done, d dependence on fuel will reduce.

You have said what Obi has always been saying, 'From production to consumption.' If there is surplus production and there is competitiveness in the market, subsidy would vade away itself.

marenkurz:
No.
The best thing the incoming president can do is to remove subsidy. By doing that, inflation will increase, thus, prices will go up.
It would take at least 8 years of good government policies before any meaningful change can be seen.

Don't worry about removal of fuel subsidy. Buhari will remove it before he leaves office. He's just waiting for Dangote's refinery to be completed

Goodplace:
In 2014 the average exchange rate for a Dollar is N165. Today In black market dollar is almost N700.

Can Any Presidential aspirant, if elected 2023. Reduce significantly the exchange rate.

Yes son it will. Prices of things will drastically reduced or do you want to vote in APC so prices of things can triple? Before December a Dollar will be N1,500 understand this APC government is completely.

Haven't you heard Obi plans on consumption to production? It is so obvious that this govt has been consuming for so long without any productivity at all. This is exactly why Nigeria needs Peter Obi to fix things and get Nigeria working again.

Support Obi, Join us the youth and Join us fast as we all vote massively for peter Obi come 2023

I believe Buhari’s lack of elementary economics is the major factor for the hyperinflation and dwindling economic fortunes under his watch.

A president with basic or sound knowledge of economics will know the right policy, strategy, team and measures to introduce.

Also, his lack of social relationship style really exposed his failure. A leader may not be good/sound in a particular aspect, but his social relationship manner will help him hunt for the right brains to get the job done.

So, I believe if any either Atiku, Obi or Tinubu wins, we can be sure of seeing them constituting a strong economic team to address the dwindling economic fortunes. Kwakwanso is a no-no.

pinkgoodies:


Funny. Subsidy is a big trap. Even PO dat is talking about it. Won't do that. Because you can't remove it when you don't even have local production, even if you have it. It should be up to half of daily usage. Unless refineries are fixed up and new ones built within 4 years. If not, pple will go against PO so badly. Even usa is trying to subsidise dia own to cushion the effect on dia citizens. So firstof all, any govt dat is coming in should try and tackle electricity first, if that is done, d dependence on fuel will reduce.

1.If subsidy goes, refining at home would become attractive. Since one now refines petrol and sells at a profit.

2.We started the subsidy thing when we had domestic refining. Because of that, there was no profit for the refineries to run properly...hence their deterioration over the decades.

3.USA does not subsidize fuel for everyone, and prices there are still high. (There is financial aid of sorts...but it is for means tested people...actual very very poor people. Not for average American. Also prices are very high in some states because taxation eg California.)

4.If you want new refineries..and we have six private ones coming up...you have to remove subsidy. Under subsidy someone refines fuel at say N400 per liter and sells it at N175 per liter...and you expect there to be enough profit to keep the refinery running? Even the importing that we do, NNPC imports at over N500 and sells at N175, and the money paid to cover the loss is subsidy...money that if subsidy is removed could be made plus profit on top, and used for domestic refinerie.s

iSense247:
You have said what Obi has always been saying, 'From production to consumption.' If there is surplus production and there is competitiveness in the market, subsidy would vade away itself.

Not saying he is not right, but now, to get a new refinery takes up to 3 years or 4. Let's assume also that the dangote own works. Production will still be on a low. So looking at removing subsidy will be from next 5 years.

29kobo:


1.If subsidy goes, refining at home would become attractive. Since one now refines petrol and sells at a profit.

2.We started the subsidy thing when we had domestic refining. Because of that, there was no profit for the refineries to run properly...hence their deterioration over the decades.

3.USA does not subsidize fuel for everyone, and prices there are still high. (There is financial aid of sorts...but it is for means tested people...actual very very poor people. Not for average American. Also prices are very high in some states because taxation eg California.)

4.If you want new refineries..and we have six private ones coming up...you have to remove subsidy. Under subsidy someone refines fuel at say N400 per liter and sells it at N175 per liter...and you expect there to be enough profit to keep the refinery running? Even the importing that we do, NNPC imports at over N500 and sells at N175, and the money paid to cover the loss is subsidy...money that if subsidy is removed could be made plus profit on top, and used for domestic refinerie.s

All dis can't work within 4 years, don't expect him also to do miracle, there are many factors affecting the world, from diseases, the war in ukraine, our economy etc. If he ever removes it immediately he enteres without local production. He has messed up, d price of fuel will skyrocket like dat of unregulated diesel. The whole world is feeling d heat of the fuel issue. He can't do anything differently.

The question is somehow very daft .

My conviction is those who intends to transform Nigerria from a consimption country to a production one can only acheive that....

Only PO have realised this. Seems you are not following

Don't be left behind

Goodplace:
In 2014 the average exchange rate for a Dollar is N165. Today In black market dollar is almost N700.

Can Any Presidential aspirant, if elected 2023. Reduce significantly the exchange rate.

Yes, Osinbajo did it when Buhari was in the london hospital for the second time, for that, I think this dollar black market rate is a failure of Buhari administration.

pinkgoodies:


All dis can't work within 4 years, don't expect him also to do miracle, there are many factors affecting the world, from diseases, the war in ukraine, our economy etc. If he ever removes it immediately he enteres without local production. He has messed up, d price of fuel will skyrocket like dat of unregulated diesel. The whole world is feeling d heat of the fuel issue. He can't do anything differently.

On the other hand continuing with subsidy means we spend more and more of our budger feeding the thing

Meaning Nigeria takes loans to cover the resulting deficits

I think we have taken about enough loans.

Either we make the hard choices now, or we would be forced to at a time when we won't like it

pinkgoodies:


Not saying he is not right, but now, to get a new refinery takes up to 3 years or 4. Let's assume also that the dangote own works. Production will still be on a low. So looking at removing subsidy will be from next 5 years.

Dangote refinery is slow because it is one of the biggest refineries in the world. Modular refineries can be completed within a year. What Nigerians from Obi need is favourable government policy. Solution to Nigeria problem is not rocket science.

It will increase but stay that way for a very long time
He is not ur solution, JESUS CHRIST is ur solution to Nigeria many words..ask Him so he will show u how to come out triumphing

It won't. Prices are high all over the world. Food and energy are in short supply, so prices are not coming down, and prices in Nigeria are sure to remain high for a long time to come.