accordadoga27:
Welcome to the new Nigeria - The giant of Africa.


We thank everyone who voted in BAT.

As for the ones who fell for the propaganda, una eyes don clear now just in two weeks.

They told us we would see shege under Ashiwaju’s administration (the best governor in the history of Nigeria) but the land would be filled with honey under one man who failed woefully as a governor in small Anambra and some people believed.


Tinubu is sick, he is push and start, how many times has he collapsed since he assumed office?

We thank everyone who believed in Ashiwaju. Together we shall sing a new song.

As for the ones who don’t want Ashiwaju to succeed or progress, ode to n so eledumare, ori e lo ma ku si

Ashiwaju is not their father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s father’s mate.

Your level of asslicking is one for the ages, why not wait and see before coming to conclusions, are you a newcomer to this country, have we not seen initial gragra before?

oluwaseyi0:
how is this Mr Tinubu getting away with all this, so many president can't attempt this

lol I swear .see how everythings are falling in line without much agitation.with this more resources will be available to better the life of ordinary citizens.
Even some people that seem not to believe in governance in Nigeria before are now having a rethink.May Nigeria be great again

PoliteActivist:


He's called Jagaban because a small kingdom called Borgu named him Jagaban

Do you know most people especially Igbo don't know this.They think jagaban is one mafia leader name.probably because of YCEE song JAGABAN. I have watched an interview granted by an Igbo where he said he hates him because of that name that the sound jaga jaga as leader of people that turns things to jaga jaga

They have started again, acting impulsively without a clear plan... dem never even finish fuel Subsidy case.

Is it just me or doing this will create the following;
-1 Inevitable Devaluation of the Naira
-2 Dollar Supply challenge from the banking sector which will still endup empowering the parallel market (except an official mutual agreement is brokered between the black market and CBN) either way the local currency will seriously slump, which will seriously push inflation.

As I write now, the CFA is far stronger than the Naira, which is concerning, considering the fact that all border countries around Nigeria use the CFA...

Is Nigeria prepared for the looming inflation, potentially around the corner?

My take;
Such decisions should have been made after establishing a solid economic thinkthank that would have analysed the strengths and weaknesses of this fx policy in the absence of a strong National Economic plan.

Additionally the vices of Nigeria that require heavy fx have not even been plugged, I.e security, banditry, oil and gas corruption, power sector corruption... why kick start a policy that would further facilitate the operations ease of numerous wahala in the country (like pouring water into a leaking bucket- more like wasting water)

E get why Buhari been lock everywhere. I just hope Buhari is not missed in the long run.

[quote author=money121 post=123801334][/quote] can we also use our naira card for international transaction now

Dialpad:
This is a good move, I know many are waiting to hear news of when we can start spending dollars on our naira cards.

How can one have millions in a naira account but can't spend when you travel out, some lunatic tells me I can only spend $100 monthly.

If you are waiting to spend dollars on your naira card, click the like button.... lol

They later reduced it to 20 dollars a month and later stopped it completely

With the way Mr President is running the show...... I doubt if he's going to have any opponents comes 2027.

Favourchris:
hope they can handle the demand, putting naira on a free market with our not so working economy, will end in disaster.

all i see this man doing is making policies b4 planning for the out come....


like this, na 3k we go see ... if bank cant supply everyone

At least, we knew that the policies he met on ground were not working for the benefits of the majority of Nigerians. Everyone was looking for something different, new directions and it is here. Let's leave story and lamentation for tomorrow

bionixs:
Buhari’s intro was far more promising and your type made noise to high heavens. Sai baba was your anthem

Making policies without plans just to protect what he stole. Justice must prevail.this is not how America became great.
Person wey no understand wetin dem write will be here shouting bat upandan

What was buhari intro?

Appointing COS and SGF 3mths after swearing in.


Mention one landmark policy implemented by buhari within 100 days in office.

I voted for him, but I lost interest within 100days in office!

grandstar:


You said EDT is 3%. What is EDT?

Education Tax

This is an excellent one. Policies like these would gradually reset things.

Marvfem:
can we also use our naira card for international transaction now

Yes

Funflipper:


Tinubu is well known for his guts. Right now, he is the most powerful person in Nigeria and he is answerable to no godfather.

Those that supposed to be his godfather are actually his boys!

If we have enough Forex, unification will automatically happened!

This will still make some people rich except there is still regulation as those who have the Forex will be determining the rate irrespective of the market force!

Nigeria is entirely different country that run counter and rebel against every economic logic!
In Nigeria, you can have "the higher the price and the the higher quantity demand" and you begin to wonder what's happening?

The simple shortcut to issue of Forex is just increase your earning through export and reduce your dependency on import to have surplus Forex to protect the local currency.

franchasofficia:
A good start for now.


But guess where the problem is?


CBN doesn't have enough dollar to meet Nigerians' usd demand, remember we are an import dependent country.


What it means is that Nigeria doesn't earn enough FX through export to meet up with the dollar demand of Nigerians, which means many Nigerians will be going to Aboki for dollar and Aboki will be determining the rate based on demand of dollar for the day, and this will definitely lead to uncontrolled crash of Naira value against USD.



I commend Tinubu for this good dollar floating policy, but it would have been better done after putting certain things in place to ensure CBN earns or have enough dollar to supply to all banks to sell to Nigerians.



One of those things that would earn us more FX and also reduce our FX outflow is putting our local refineries in working condition and leasing them out to private entities to run for Nigeria to reduce importation of petrol which gulps most of our FX. While fixing the national refineries, Dangote's refinery will also be ready and both combined would solve our importation of petrol which consumes majority of Nigeria's FX.

Ogene001:
Tinubu has destroyed abookis after deceiving them with Muslim/Muslim ticket and dancing in Kano. Peter Obi used to say these things but Tinubu was fooling around to deceive northerners when he had similar plans.

All 3 presidential candidates promised to do something similar, including Aboki Atiku

The immediate past system wasn't benefitting them much after the CBN ended sale of forex to the BDCs.

The Cum Laude Accountant is in the building!

viodemus:
incoherent grammar, using words to confuse gullible nigerians.


These people are not serious. they love Faking.

They are finding ways to normalize suffering. This is suffering transition from Nzuzuari max to sillybu pro max.

They are trying to deflect their lack of solution. Is not like some are not intelligent people, but because the kind of progress they seek is for personal account and personal leverage impact They can try to suppress the truth of their actions, and put a wool over the eyes of the people, but their incompetence continues to shine through.

You people want to save some money, but many people know it is not really for impactful work; but more so for treasury looting. These are not crises handlers. Not in economics, at nothing thus far. No signs of wisdom on the horizon yet. Their incompetence dey stink high. unnecessary shakara.


equalize the security forces for all, nstead of having an overwhelming hisba and tribalist sham forces. As much as this is a great selling point for the east, it is still good to wish for peace. The SE and close knits are not really represented, do something about it. It also shouldn't take much to open the non SW ports.

What happened to non SW ports when GEJ was the president, Anyim pius Anyim was the SGF,Okonjo iweala was the coordinating minister of the economy Allyson madueke was the minister of petroleum,Emefiele was the CBN Governor, Aruma oteh was the chairman SEC,Peter OBI was the chairman SEC ,Ike Ekweremadu was the deputy senate president, Emeka ihedioha was the deputy speaker..all for 5years 2010 to 2015!
Una never take responsibility for your life but blame others

Favourchris:
hope they can handle the demand, putting naira on a free market with our not so working economy, will end in disaster.

all i see this man doing is making policies b4 planning for the out come....


like this, na 3k we go see ... if bank cant supply everyone

Trust me, nigerian banks have the most dollars than all the banks in west Africa combined, they're the one hoarding it and selling it to these Aboki

slimthugchimee2:
Omoh the grammar here strong pass me
People wey no understand shishi gather here

Abeg person help me explain

In case you don't know what floating the Naira means, it means that the government will no longer determine the Naira rate. There will be only one rate. And that is the rate determined by market forces. This means that the more you buy foreign goods, like the ones you see in Peter Obi's Next Cash and Carry, the more the Naira will collapse. And the more you buy made in Nigeria goods and services, like Innoson Motors, and Globacom telecommunications products, the more the Naira will rise.

The immediate impact of this will be that our foreign and local reserves will rise, since the Central Bank of Nigeria will not have to defend the Naira by unnecessarily injecting Dollars into the forex market. Another consequence is that exporters and importers, as well as students, pilgrims, tourists and health tourists will no longer have to approach the CBN for allocations, since the CBN rate no longer exists. What will exist is the single exchange rate.

Also, you will be able to travel with Naira and change it for Dollars, Pounds, Euro, Yuan, etc., abroad, as it was during the 70s and early 80s before Buhari's coup against President Shagari's government.

Another 4 years, an aboki takes over as president and we go back 10 years again. Nigeria can never make any meaningful gains as long as the North and South remains one. Till yoruba's get sense and partner with the Igbos politically and continue to rotate the presidency among themselves for 200 years, Nigeria will just continue to be like the erectile dysfunction of a 70 year old man.

In case you don't know what floating the Naira means, it means that the government will no longer determine the Naira rate. There will be only one rate. And that is the rate determined by market forces. This means that the more you buy foreign goods, like the ones you see in Peter Obi's Next Cash and Carry, the more the Naira will collapse. And the more you buy made in Nigeria goods and services, like Innoson Motors, and Globacom telecommunications products, the more the Naira will rise.

The immediate impact of this will be that our foreign and local reserves will rise, since the Central Bank of Nigeria will not have to defend the Naira by unnecessarily injecting Dollars into the forex market. Another consequence is that exporters and importers, as well as students, pilgrims, tourists and health tourists will no longer have to approach the CBN for allocations, since the CBN rate no longer exists. What will exist is the single exchange rate.

Also, you will be able to travel with Naira and change it for Dollars, Pounds, Euro, Yuan, etc., abroad, as it was during the 70s and early 80s before Buhari's coup against President Shagari's government.

relaxandsmile:
Where is NATIONAL ORIENTATION AGENCY to start braking down these policies for everyone to understand?

I hate that parastatal!

The last time they function was when frank nweke junior was the minister of communication under Obasanjo!

They should partner with all those comedy skit makers and bloggers to enlighten people!...they should incorporate it in their comedy skit like they do for all those herbal bitters,sport bets and bitcoin traders.

obyno82:

.let me take you back memory lane this was the same step IBB did with the introduction of SAP. I am sure you were not born then and the pressure led to the death of local manufacturing and the free fall of the naira. Tinubu is being too hasty with his policies simply for the fear of the Obi paradox, he is desperately trying to win public sympathy, but this would backfire quickly. Without putting structures in place, the implication would mean outside forces will put pressure on the naira making the naira to lose value rapidly. Tinubu should leave this media circus and focus more on putting structures in place.

you people should chill!

Obi is not a threat to Tinubu but Atiku.

OBI my foot 😆

Ikea81:
Another 4 years, an aboki takes over as president and we go back 10 years again. Nigeria can never make any meaningful gains as long as the North and South remains one. Till yoruba's get sense and partner with the Igbos politically and continue to rotate the presidency among themselves for 200 years, Nigeria will just continue to be like the erectile dysfunction of a 70 year old man.

.
Igbo should be the one to get sense and partner with yorubas.Yorubas have sense already!...you guys have nothing except NZOGBU NZOGBU...let yorubas teach you sense

Etisoul:
Unclear to a layman. Please could someone help break it down?

Nigeria had lived since independence like a unemployed man who dresses shiny corporate, bids his wife goodbye and leaves the house to roam round the town with an expensive but empty briefcase and a false notion that he is going somewhere..... but returns home to face racking poverty at dusk. The result is that he does not attract real help of any kind because his position is misleading.

Now his wife is sick of the whole charade and decides to dress according to her status, wearing tatty clothes and sitting at the gate with a begging bowl. Now, what will happen is that she will attract folks who pass by. Three kinds if folks.

Some will place a few coins in her begging bowl out of pity.
Others will offer her a job to come do laundry or mow the lawn.
Some will hold her hand and say come spend time with me in the other room for a morsel.

This family is Nigeria that has come to her senses and is beginning to live according to her realities. The re calibration of the economy will attract more aid (help) because those who give will not need to hand over as much as before since the naira is much further away from their dollar.

The devaluation of life here will also attract investment since amongst many things pride is stripped away and labour costs should be rock bottom theoretically making productivity more competitive.

However devaluation will also attract all sorts of foreign predators capitalizing on vulnerabilities of citizens, local businesses and the government as a whole because let us be frank, a hungry man will sell anything including himself to survive so brace up for a lot of lurid international, cross border stories.

But like I have said many times since the first chapter of this government, the quality of governance will define if the sacrifice of the average Nigerian in giving up all the privileges the various subsidies afforded him will not be in vain. If government abandons him midway and does not associate with his pain but conduct themselves in the typical recklessness we associate with them then it is curtains for this country.

Just like the principles of the wife will decide whether she will take the job or take the easy way out.

You are sure I was not born then....
What made you so sure of that?

You see arrogance in you... You don't even know me.... I hope you know that not much can be done without the legislature which has only been inaugurated yesterday. Yet if he uses that as an excuse of not doing anything, it's people like you that will complain that he is slow. These actions of his are the things he can still easily do for now without needing the legislature. Things will be solidified and properly structured once the legislature gets down to work.

IBB era is gone and for your information I know what SAP was...

obyno82:

.let me take you back memory lane this was the same step IBB did with the introduction of SAP. I am sure you were not born then and the pressure led to the death of local manufacturing and the free fall of the naira. Tinubu is being too hasty with his policies simply for the fear of the Obi paradox, he is desperately trying to win public sympathy, but this would backfire quickly. Without putting structures in place, the implication would mean outside forces will put pressure on the naira making the naira to lose value rapidly. Tinubu should leave this media circus and focus more on putting structures in place.

EgunMogaji2:


That’s the job of the press.

Know it today that the highest propaganda tool of the government are the press

Rubby1:
In case you don't know what floating the Naira means, it means that the government will no longer determine the Naira rate. There will be only one rate. And that is the rate determined by market forces. This means that the more you buy foreign goods, like the ones you see in Peter Obi's Next Cash and Carry, the more the Naira will collapse. And the more you buy made in Nigeria goods and services, like Innoson Motors, and Globacom telecommunications products, the more the Naira will rise.

The immediate impact of this will be that our foreign and local reserves will rise, since the Central Bank of Nigeria will not have to defend the Naira by unnecessarily injecting Dollars into the forex market. Another consequence is that exporters and importers, as well as students, pilgrims, tourists and health tourists will no longer have to approach the CBN for allocations, since the CBN rate no longer exists. What will exist is the single exchange rate.

Also, you will be able to travel with Naira and change it for Dollars, Pounds, Euro, Yuan, etc., abroad, as it was during the 70s and early 80s before Buhari's coup against President Shagari's government.

You will be surprised that these folks have a serious foreign exchange footprint because all they sell is essentially foreign sourced.

Dialpad:
This is a good move, I know many are waiting to hear news of when we can start spending dollars on our naira cards.

How can one have millions in a naira account but can't spend when you travel out, some lunatic tells me I can only spend $100 monthly.

If you are waiting to spend dollars on your naira card, click the like button.... lol

You be mumu ..you toooo like 'like & share'

mikeapollo:


It is better you understand the consequence as regards the exchange rate.
This would make the dollar to be N1000 in a few weeks, and destroy things more.
We have a president that is operating market-dictated, capitalist ideas but the market on Nigeria is not a skewed type with no checks and balances.
By the time the dollar reaches N1000, the same govt. would some back againand tell you that fuel must sell for N1000 per litre because ''subsidy is a scam'' and that they cannot be father christmas to other neigbhouring countries forgeting that it is Nigerian masses that are suffering and dieing..

A fake economist and a die-hard pessimist sighted.

Inception:


I read this and I laughed

Nigerians have forgotten IBB , and SAP of 1986

This was the exact lie IMF told us that led to the irredeemable fall of the Naira. And at that time, Nigeria was a paradise compared to the shi.t hole it is now

Gentlemen... The Naira is dead and buried by this move. We currently do not have the economical sagacity for this right now. No roads, no electricity, poor transportation network, no factories, harsh economic policies for businesses to thrive, and the topping of the cake: INSECURITY!! Even the oil sef, we no dey produce as we ought to, and there is no market sef.

See, Nigeria is broke. Buhari wrecked the country beyond repairs. That is why APC did everything to ensure they remained in power.. In the coming days, una eyes go clear.

What are you saying? Rubbish! First, import-export market determines the value to a large extent. Our major export is crude oil and soon it will be refined products. The reason most investors divested was because of unstable and unpredictable value of the Naira. The move has assured Investors more confidence and that can be seen in the gain experienced by the stock market.

Rubby1:


In case you don't know what floating the Naira means, it means that the government will no longer determine the Naira rate. There will be only one rate. And that is the rate determined by market forces. This means that the more you buy foreign goods, like the ones you see in Peter Obi's Next Cash and Carry, the more the Naira will collapse. And the more you buy made in Nigeria goods and services, like Innoson Motors, and Globacom telecommunications products, the more the Naira will rise.

The immediate impact of this will be that our foreign and local reserves will rise, since the Central Bank of Nigeria will not have to defend the Naira by unnecessarily injecting Dollars into the forex market. Another consequence is that exporters and importers, as well as students, pilgrims, tourists and health tourists will no longer have to approach the CBN for allocations, since the CBN rate no longer exists. What will exist is the single exchange rate.

Once people are not demanding for dollars, the naira will improve in value automatically. FDI will also increase as investors can now get the true worth of their money.

Also, you will be able to travel with Naira and change it for Dollars, Pounds, Euro, Yuan, etc., abroad, as it was during the 70s and early 80s before Buhari's coup against President Shagari's government.

Well done. You broke it down into easy to comprehend granular pieces for people. I support the policies too but if we really want to make it count, Nigeria must start producing internally. Nigeria must take control of her borders too so that we regulate the number of goods that can come from other countries into Nigeria.

This will discourage lot of students buying pounds and dollars cheaply to fund their education abroad. If you need money to study internationally, go and get your money from the single market at any rate, if you can afford it. We cant afford to be paying for international tuition fees while depleting our foreign reserves.

Within 2 weeks of this administration, my belief system in Nigeria has increased exponentially.