Double subsidy removal in action. Next is inflation of commodities and the cry of the masses, then comes a massive paradigm shift in how business run.

Ahmed0336:
Damn!!!

I'm so proud to be alive this moment.
Tinubu really understand how to run an economy.
It's so sad that PMB who was once a military officer didn't have the heart to do all these.

BAT, na man you be. 🤝

So you hypocrites are now agreeing Pmb is now a terrible leader.

May you all read what you sow

Unifying the exchange rate go spoil business for Abokis o. Because there wont be need to patronise them when you can easily convert your dollar to naira online and transferring it to your bank account without losing kobo.

DarlingtonC:
So you hypocrites are now agreeing Pmb is now a terrible leader.

May you all read what you sow

Ignore them. They defended Buhari's refusal to devalue the Naira. Now they're defending BAT's decision to devalue the Naira.

Just ignore them and "their mod."

DarlingtonC:
So you hypocrites are now agreeing Pmb is now a terrible leader.

May you all read what you sow

Tinubu is cleaning up Buhari and Jonathan’s mess in one week.
Jonathan invited all manner of vermins into the oil distribution whose only purpose was to steal .Within a period of 2 year , the subsidy regime became untenable. He ,Jonathan was asked to clean up the mess he made but refused. After 10 year , those vermin’s are so embedded in the system that it is better to just get rid of it altogether.
Buhari on the other hand created this exchange rate gap to benefit round-trippers. Both cases used ethnic considerations above national interest .

What effect will this have on people that earn in dollars?

DarlingtonC:
So you hypocrites are now agreeing Pmb is now a terrible leader.

May you all read what you sow

Read what we sow ke.

Oga face front.

Brek:

A good or a bad thing?

For example you DON'T abruptly remove fuel subsidy. It is something you do gradually because of the hoarding that will ensue and the multiplier effect on the cost of everything. It can only be done gradually as wages of salary earners and people in general adjust to rises in prices accross the board!

PoliteActivist:


For example you DON'T abruptly remove fuel subsidy. It is something you do gradually because of the hoarding that will ensue and the multiplier effect on the cost of everything. It can only be done gradually as wages of salary earners and people in general adjust to rises in prices accross the board!

Subsidy removal has been going on for 40years . Can you tell us the terminal date?

emerged01:
Unifying the exchange rate go spoil business for Abokis o. Because there wont be need to patronise them when you can easily convert your dollar to naira online and transferring it to your bank account without losing kobo.

Scarcity nkor? ,Their business strive when there are scarcity

Greyworld:
And Emilie is Still CBN governor.

Of course - because he did what he was told by the powers that be. Tinubu understands non of those policies originated with him (it is even possible he tried to argue against them but was shouted down to do what he was told and stop arguing)

Hmmm... Let them open our land borders ooo

Civetcat:



Subsidy removal has been going on for 40years . Can you tell us the terminal date?

PO actually outlined very well the right way to do it but all you see in the media is that he said subsidy should be removed "immediately"

Noted

Welcome development

Ghen ghen...

IVORY2009:


Scarcity nkor? ,Their business strive when there are scarcity

The way me I dey see am in long term dollar no go scarce o. Next month,there should be more of dollar,na Dangote to go dey supply fuel,there wont be need for the marketers to dey run after dollars for importation.

Civetcat:
This is exactly one of obasanjo’s first move when he came to power . Tinubu is ticking along nicely. He is front loading all the shocks and the pain will be unbearable at first . But handled properly ,Nigerians will reap all the benefits.
The funny thing is that Nigerian were already paying a higher price for over 10 years .
My advice for Tinubu’s communications team is that they are not doing their job properly.Nigeria is not Lagos where you have a large professional class who understand the vagaries of economics. Even Lagos is full of dimwits.
There is a need to communicate policies, the reason for , the effects and its potential benefits directly to the populace.Go to the hinterland and market squares . Communicate directly with the people .
Get their buy ins . Look for quick easy wins . FVCK palliatives . Use that money and import 50000 cheap tractors from china and distribute them to farmers cooperatives.
Get enough railway rolling stocks on the train lines ASAP and build agriculture transportation and distribution hubs around the lines .
This can be achieved within 12 months . Tell those useless flyover, event center and street light building governors to invest state funds in areas of competitive advantage. For most , it is agriculture.
Absolutely ignore all those so called Harvard agricultural experts who have never stepped on a farm for one day in their lives with their yeye “cooking pot” and “telephone for farmers”programs of the past . Face the reality on the ground and not some half baked classroom theories.

The problem now is loan repayment. The PMB administration borrowed recklessly

Civetcat:


Tinubu is cleaning up Buhari and Jonathan’s mess in one week.
Jonathan invited all manner of vermins into the oil distribution whose only purpose was to steal .Within a period of 2 year , the subsidy regime became untenable. He ,Jonathan was asked to clean up the mess he made but refused. After 10 year , those vermin’s are so embedded in the system that it is better to just get rid of it altogether.
Buhari on the other hand created this exchange rate gap to benefit round-trippers. Both cases used ethnic considerations above national interest .

The exchange gap was first created in the mid 1980;s by the IBB administration, and by 1992 we had a offical and parallel market for forex.

Buhari just created some additional cheap rates...including one for Muslim pilgrims at one point.

The official rate of four something has been useless. A good way to go, end BDC influence over naira.

The official rate is still 460 on CBN official site

Emefiele's juju man must be very powerful. His jazz worked well on Buhari, now it's working on President Agbado

Second subsidy for importers. Everybody is buying at 700+. Importers aka billionaires are buying at 460. Now both are almost equal. He will have to bring black market down to 600 too.

We should have a unified exchange rate

Civetcat:


Tinubu is cleaning up Buhari and Jonathan’s mess in one week.
Jonathan invited all manner of vermins into the oil distribution whose only purpose was to steal .Within a period of 2 year , the subsidy regime became untenable. He ,Jonathan was asked to clean up the mess he made but refused. After 10 year , those vermin’s are so embedded in the system that it is better to just get rid of it altogether.
Buhari on the other hand created this exchange rate gap to benefit round-trippers. Both cases used ethnic considerations above national interest .

May I ask you why Tinubu and Buhari led the protests to vehemently oppose subsidy removal by GEJ in 2014?

See dead brain forming analyst
Those that senior your father n tutor dear not say all the rubbish you said out of bigotry n hate for the superior Yoruba Tinubu.

nairalanda1:
Maybe this is the first step to unifying the rates.

Having said that, this is another sign of APC failure. The government is not earning enough dollars....so the naira keeps falling. For tinubu to strenthgen the naira...he must diversify the economy now.

Nigeria shall be great again.

Dollar will reach 1knaira to a dollar with bad mumu decisions without adequate infrastructure on ground to manage the decision

Nigeria is down Chai! Afi ki olorun saanu wa lo ku....

nairalanda1:
Maybe this is the first step to unifying the rates.

Having said that, this is another sign of APC failure. The government is not earning enough dollars....so the naira keeps falling. For tinubu to strenthgen the naira...he must diversify the economy now.

And he will do it on nairaland, he will do that within 10mins abi

dorcdave2019:
Nigeria shall be great again.

Amen

Rushing to Binanace RN

make my funds the intact o

Very good move.. gradual sanity in all critical sectors