hush15:


The part Nigerians don't understand is that they will have to fight tooth and nail to have their lives back cos if they believe that BAT, a master rigger and compromiser will give them a free and fair election ever again, they joking, be it from the north or south. The only person that will continue to be President if the courts don't do the right thing, is for an approved stooge that will further entrench Tinubu ever taxing policies and style of governance. InEC will be forever compromised. Peter Obi on the other hand will be able to survive it cos he has the capacity to, also extending that capacity to Nigerians but they refused.

Karnice600:


You are crying about fuel subsidy removal today. Wasn't that a benefit?



How? Benefit bawo?
Show me one average Nigerian that is benefiting from subsidy removal currently.
You don't even know where the said funds are going. No clarity. You just believe as a believer that the government will favor you and your family.

thegooddieyoung:
Just to defend this government and feel you are slighting well meaning people.

It is obvious you do not understand the theory of ripple effect at all.

Manufacturers Association of Nigeria (MAN) are already planning to increase the cost of products and services due to hike in energy tariff.

Expect to buy your darling bread at a cut-throat price.

People are complaining because of the ill-timing. Government is expected to provide some succor to the common man.

DeLaRue:


It's laughable.

Every hour, Nigerians are monitoring Naira/USD rate even when they don't do any international trade.

Tailors, office workers, landlords, teachers, market men and women etc are discussing dollar rate every day.

Every time the value goes up by any amount, people's blood pressure rises enmass.

My sister has no business with the dollar, but anytime she calls, she will ask if I know that dollar is so and so

The slavish obsession with the dollar is contributing to making more people wanting to buy it, therefore destroying the naira.

People are just 'doing themselves '.

We are not Americans. Dollar is not our currency.

Why are we obsessed with this currency.

I don't think there's any country in the world where whole swathes of the population have deified another country 's currency.

DeLaRue:


The government should continue to spend more than $5 billion a year to subsid⁶ise an artificial naira value of N460?

And another $9 billion to subsidise petrol.

And also subsidise many other sectors of the economy.

Mostly with borrowed money.

Are you a baby that government must subsidise every aspect of your life.

Are people in Togo, Republic of Benin, Ghana etc not surviving without ruinous subsidies.

You want the country to go bankrupt like Sri Lanka, Argentina, Lebanon etc

If the country goes bankrupt, naira will go to about N2,500 (or more) to a dollar. I guess your subsidy eye will clear then.

Anyway, the naira is not on a complete free float. The current market price is closer to its real value that N460 was. Government will support the naira if it falls too hard.

It will eventually find its natural level, and that level is likely to be under N700 for some time.

Parachoco:
Naira will be between #550-#650 before the end year

DeLaRue:


The government should continue to spend more than $5 billion a year to subsid⁶ise an artificial naira value of N460?

And another $9 billion to subsidise petrol.

And also subsidise many other sectors of the economy.

Mostly with borrowed money.

Are you a baby that government must subsidise every aspect of your life.

Are people in Togo, Republic of Benin, Ghana etc not surviving without ruinous subsidies.

You want the country to go bankrupt like Sri Lanka, Argentina, Lebanon etc

If the country goes bankrupt, naira will go to about N2,500 (or more) to a dollar. I guess your subsidy eye will clear then.

Anyway, the naira is not on a complete free float. The current market price is closer to its real value that N460 was. Government will support the naira if it falls too hard.

It will eventually find its natural level, and that level is likely to be under N700 for some time.

Bidema:
Guys please when last did your country monitored American economy.

That's what you get when you depend on people for your daily bread

chidiokay:



Since when did Manfacturer start depending on electricity ...
The reason why most Manufacturing companies left Nigeria is becos of irregular power supply, is that excuse no longer tenable

whatever MAN is planting as nothing to do we the hike per say BUT who Nigerians are, we are our own problem, IF things had gone the other way, Fuel price dropped, electricity price dropped .. we MAN ever come out to declare decrease in prices.

It easy and convenient for so called elites to be shouting palliatives, But what most fail to realize is that there is no palliatives can give at the moment is can bring a cushion effect, lets be realistics.
The only cushion effect that can happen now now as most elites are anticipating is either MAGIC or bring back subsidy

But for the reasonable class that are not allergic to the truth, there is no smooth road out of subsidy regime, what can bring desired relieve is for govt to show sincerity and profound policies that will optimize productivity in Nigeria.

georgeakins:


Jagaban is the greatest politician this country has produced since independence.

You must worship and adore him.

viodemus:
What does unwise Bola know? If he is not stealibu--ing, he is sillybu-ing; or trying to divide and conquer through tribal and religious beliefs. He is a hardened naive. Day 1, month 1, na hellelle. A very advanced fraudulent tribalist islamics criminal.

JasonScoolari:
This is just the beginning.... First thing tomorrow, hike in Electricity Tariff will hit everyone hard.

Sad thing is that one Kwara Polytechnic Nd2 dropout, living in the suburbs of Ilorin as a part-time agbero, with a heavily padded Itel A2 as his major property and traits of mental disorder will come here to abuse Obidients and everyone who speaks against Tinubu and his tax killing government..

kayusely70:
When will you people stop your unending WAILINGS!!!!!!!

DeLaRue:


It's laughable.

Every hour, Nigerians are monitoring Naira/USD rate even when they don't do any international trade.

Tailors, office workers, landlords, teachers, market men and women etc are discussing dollar rate every day.

Every time the value goes up by any amount, people's blood pressure rises enmass.

My sister has no business with the dollar, but anytime she calls, she will ask if I know that dollar is so and so

The slavish obsession with the dollar is contributing to making more people wanting to buy it, therefore destroying the naira.

People are just 'doing themselves '.

We are not Americans. Dollar is not our currency.

Why are we obsessed with this currency.

I don't think there's any country in the world where whole swathes of the population have deified another country 's currency.

Parachoco:
Naira will be between #550-#650 before the end year

prophetfire:
opono from dream land economics.

thegooddieyoung:
Broh please read your comment again, it seems a bit incoherent to me.

About your introductory remark, MAN is a body make up of even tooth pick producers. We need power to produce anything. Most of them run PMS generators whose pump price has increased. They are also connected to the power grid whose monthly tariff will now be increased from tomorrow.
It will not be easy for the common man at all

Bidema:
Guys please when last did your country monitored American economy.
You felt offended by his observation because you follow APC like zombie, God will heal you

That's what you get when you depend on people for your daily bread

GeneralDae:

The question is:

You implied Nigerian Government has never given you any benefit whatsoever and in thesame breadth you are crying that they have taken out fuel subsidy.

Isn't that a contradiction?

jumper524:
If unethical caution is not taken, these Americans would still devalue our naira and blame it on some economic factor.

dre11:
The Nigerian naira has moved from being overvalued to undervalued following the government’s long-awaited foreign exchange reform, analysts at US-based Bank of America said in…




https://dailytrust.com/naira-now-undervalued-after-float-bank-of-america-says/

Karnice600:



Now understand what I mean. Don't twist it to suit your sentiments.
Subsidies were like bandages on a broken arm; an arm marred by ridiculous policies and economics.
Now even if the bandage on a broken arm isn't the desired condition for anyone in such bad shape, you can't just take off those bandages when the arm is yet to be healed. That bandage wasn't something to boast about, yet it wasn't something to do without either at such moment. It was remedying a critical situation. Yes it was more of a remedy than a benefit. Removing it hastily rather than strategically is an insensitive move. Its gross incompetence.

jmoore:
The analysts are obviously myopic. Nigeria is an importing country, therefore expecting a dollar to be 650 naira next year won't happen. Tens of billions of dollars from crude oil revenue is not enough to meet the demand of forex.

JasonScoolari:
Wetin bring Peter Obi come this matter?

Is he the reason why the Naira is undervalued?

Is he the reason fuel is now N520 per litre and will be N700 per litre in the North?

Is he the reason why 5 seed of tomatoes is now N350?

Is he the reason you entered trailer from Kaduna to Ilorin to celebrate Salah?

Is he the reason there will be increase in electricity tariff as from tomorrow?

Is he the reason students at Federal Universities will start paying double of their fees?

Crvrider:


Don't be ignorant. Read about Kuwait. Their only and major export is oil and they have the world's best performing currency.