…Nigeria won’t resort to IMF over fiscal challenges

By Tony Chukwunyem


The Federal Government expects the naira to weaken further over time even after the local currency showed signs of recovering from a record low on Thursday, Bloomberg reported the Minister of Finance, Budget and National Planning, Zainab Ahmed, as saying yesterday.

According to the news agency, the minister said in an interview in Egypt that “it (naira depreciation) will happen with time,” without giving any time line.

Ahmed also reportedly ruled out Nigeria taking on an International Monetary Fund (IMF) programme to address the country’s fiscal challenges, which include plummeting revenues and rising debt service costs. The naira gained 0.0367 per cent to N435.84 per dollar on the spot market as of 5:30 p.m. in Lagos on Thursday, after recovering from a record low of N436/$1 to the greenback on Wednesday.

However, on the parallel market yesterday, the local currency dropped to N708 per dollar from N707/$1 on Wednesday. Nigeria maintains multiple exchange rates dominated by a tightly controlled official rate and the unauthorized parallel rate at which many Nigerians get dollars, which is roughly 60 per cent weaker. The World Bank and IMF have urged Nigeria to unify its rates.

https://www.newtelegraphng.com/finance-minister-naira-likely-to-weaken-further/

Of course, the naira will weaken further. The most dollarized election in the world is coming up soon in the world's poverty capital. Quite paradoxical that the most affected and oppressed by the poverty plaque are more likely to plunge the country further into poverty and indebtedness by their crass electoral choices and mal-decisions.

Someone get me off this sinking boat please.
Even it’s to go and be doing male ashewo in the Europe or Dubai, I’m fully in.
How is the average Nigerian now supposed to survive. God save us if Peter Obi doesn’t win.
But even then, is he a magician? The damage to this country seems irreparable as it is.
Vote Peter Obi is all I can say.

Such a foolish finance minister.
Modified:
Crash the I&e window rate and parallel market rate into 1. Stop the fuel subsidy and improve our current domestic refinery to give pms, ago and dpk output. Stop wasting money in politicking.

This woman and Emefiele, I no even know who dull pass.

this news is not important to us, what’s important is how to mourn our dear beloved queen and let the world know how proud professor Uju Anya is to be a lesbian.

Shameless efulefus.... I changed $1/700 as of Thursday, by December it’ll be $1/1000.

We must get sense by force

And she's smiling!!...

WhizdomXX:
Such a foolish finance minister.

Why not go take the job if you have a better solution. Do you even know why a currency value appreciates or depreciates. They are always on their bed 24/7 complaining and crying.

2023,should come quick make we see road.

Country that produces nothing, imports everything wants to have a strong currency.

Many foolish people.

Modified:

Those of you liking my post should know I'm including you if you aren't doing business that imports foreign exchange into the economy.

I'm unapologetic about this.

lol

Una never see anything.

THESE SENSELESS FOOL ANI FOOLS ARE HERE FOR
DESTRUCTION
DIVISION
EMBEZZLEMENT
and
CORRUPTION

This is scary

Abeg who go teach me yahoo like dis, cos the rate at which this naira keep drowning, I don't think there's anything that can raise it again.

I need dollars abeg I'm serious any yahoo boys in da house?

Cc: slawmir
Damn niggarrr

Las las Nigeria will be sold to the highest bidder

Minister of disaster



The worst Minister under this inept administration



What's the qualifications of this woman sef, which school she go?

dre11:
…Nigeria won’t resort to IMF over fiscal challenges



https://www.newtelegraphng.com/finance-minister-naira-likely-to-weaken-further/

He don happen. Dem still want Tinubu to destroy us further.

She get mouth to even talk this thing sef

dynicks:
And she's smiling!!...

Na.

That's a file photo

Minister of Finance or Minister of Doomsday?

I'm confused

Everyday naira dey weak...Abeg make peter obi can save us

Stupid woman and her economic policies.

This is why buhari scored 0 in economy.

Man keeping the likes of emefiele and this useless woman is Madness.

Thanks for the update Minister. I'm sure you're also ashamed of occupying a position you seem incapable to handle.

Zero delivery so far but you don't want to resign... Continue, your legacy is speaking so very loud Ma

If you like don't vote Peter obi, if you like go and vote a crook for tribe and religion.

That's your cup of tea.

No be me go feed your papa.

lol we know before as dem don pay doz Airline people na immediately me sef don go change Naira wey dey my hand to USD....

Useless minister within a very clueless government

Shame.

Noted.