emerged01:


I belong to this guy school of thought. Those that are benefitting in the gap between official rate and black market are losing already and they are part of the people that create scarcity.

domDva:
BAT is not here to smile, one thing you cannot take away from him is his capacity to take tough decisions, something that Buhari completely lacked.

WHITELIGHTER:
Hopefully our banks should start allowing us order from AliExpress directly

coputa:
Elumelu should be appointed as the CBN governor,Emefailure should not be retrained.

RomanGreen:


It's not only fuel this country imports [b]besides Dangote alone won't be able to meet local demands [/b]and trust that other importers would want to remain in business. Dollar will still be needed for other products being imported. Until we have an economy largely dependent on local production, the demand for dollar will continue, whatever Tinubu is doing now will only be temporary, only the natural forces of production, demand supply will strengthen the naira, let's hope this is matched with enabling environment for local businesses and production especially to thrive else it will all be effort in futility

coputa:
Elumelu should be appointed as the CBN governor,Emefailure should not be retrained.

Mynd44:
So basically, government will reduce taking foreign loans to fund subsidy
Reduce the amount of FOREX used to defend the Naira

And effectively free up more funds for government spending. All these will be good if the government uses the freed up funds on infrastructure and people oriented policies.

Interesting times ahead

domDva:
BAT is not here to smile, one thing you cannot take away from him is his capacity to take tough decisions, something that Buhari completely lacked.

PoliteActivist:


Where? I'd like to buy some
I know a guy buying at 750 in Lagos. I'd resale to him

Bizibi:
elumelu should not near that sit. It will be from frying pan to fire.....

domDva:


https://dailytrust.com/exclusive-cbn-devalues-naira-to-630-1/

omoluka:

He is right, i just bought USD too at 725

garfield1:


We have sir.gej once removed it fully and price went up to 140 before rlreducing it by half to 97 naira.once govt plans to remove it,they will be pressures for them not to.this is the best way to remove it sir

michoim:

Is a pity, your type exist in this country...

PoliteActivist:


This is not theory. It is people's lives. Prices of all products and services will rise accross the board, while wage earners and those marginally surviving stay the same!

Hotwest:
Don't think you are smart and others dont know what they are saying . Save your data also and be humble

Don't even sound like Nigeria is just starting up today

garfield1:


My brother,we either remove it or continue borrowing.for how long shall we keep paying for consumption while neglecting development?

PoliteActivist:


You do it as below. But anyway PBT has walked it back, said he never meant subsidy will be removed immediately

domDva:


https://dailytrust.com/exclusive-cbn-devalues-naira-to-630-1/

domDva:
BAT is not here to smile, one thing you cannot take away from him is his capacity to take tough decisions, something that Buhari completely lacked.

BrownSugq:
LMAO 😂
Too many morons on this Nairaland.
They are hailing BAT for this irrational devaluation not knowing that Naira is about to hit the root in the parallel market.
Expect Naira at 1,000/$ by today evening

LMAO 😂

dedonfranco:
We go miss Buhari very soon.......God forbid.

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.

BrownSugq:
LMAO 😂
Too many morons on this Nairaland.
They are hailing BAT for this irrational devaluation not knowing that Naira is about to hit the root in the parallel market.
Expect Naira at 1,000/$ by today evening

LMAO 😂

Bizibi:
elumelu should not near that sit. It will be from frying pan to fire.....

garfield1:


He wanted it removed and it has been removed.next is unified exchange rate.difficult decisions must be taken my brother,buhari messed things up and tinubu is in a tight corner.the easiest way is to borrow

PoliteActivist:


See below

dedonfranco:
We go miss Buhari very soon.......God forbid.

garfield1:

Guy,what exactly is your problem? How are you reasoning? Why the childish repetition? I hate rubbish

PoliteActivist:


You the one with the problem "guy"! What repetition??
Just showed you clearly the presidency came out with that PBT didn't mean subsidy would be removed immediately. Just as CBN just came out with they never devalued the naira!