LegendHero:


What is the bullish run the SE has been having? I want to know.

Soon FDI will increase and you haters will find another excuse to project your hatred.

If it had been that FPI reduced 4421%, ya’ll would have been fuming and cussssing out Tinubu.

Nothing wey man fit do for this life wey go satisfy him haters.

What you don’t know is that, Nigeria need liquidity asap and this FPI increase will help drive that in the short term. You’ll soon see increased trading volume reflect in the financial market

how would FDI increase when government is increasing taxes on everything, companies are shutting down due to increase in the cost of production and exchange rate is far weaker and unstable than before. Stop ur propaganda and start saying the truth. lies is what got us to this point of failure .

Do you even know why FPI increased? it increased because investors saw the free floating exchange rate as a means of making quick money. can naira challenge dollar in fx and stock exchange market? if na u b foreigner u no go pump in money to cash out fast which would inturn increase the value of dollar against naira. this is why dollar shut up to 789. From my current finding here, it's like the unification has been put on hold.

boltwings:
how would FDI increase when government is increasing taxes on everything, companies are shutting down due to increase in the cost of production and exchange rate is far weaker and unstable than before. Stop ur propaganda and start saying the truth. lies is what got us to this point of failure

No, government is not increasing any tax. Can you mention one tax increase that Tinubu government did since assuming power that will impact companies?

Infact, government is even decreasing tax and removing bottleneck. The new tax team they set up will finalize that.

WHITELIGHTER:


Get sense Na....how does this reflect on the street? Is bag of rice now ₦10k or tomato now 20 seeds for ₦100 or is gas now ₦150/kg?
All this propaganda won't help anyone, not even Ur mother in village

So from this your comment you are the one with sense? I leave you to your increasing madness/anger, you go soon off cloth.

Lol @ your pains, they will continue to increase I can guarantee you

sick being,

LegendHero:


Check the post, I explained it to you like a primary 2 student.

Now explain to me textbook or real life theory states that FPI do not impact liquidity based on my first comment.

Check what I wrote. I specifically pointed out it could improve forex liquidity which is what your primary 2 explanation is pointing towards and not liquidity in terms of cash movement in the economy which is what is ordinarily meant by liquidity.
But when you realise you're talking of only $222m, you'll realise you're only rejoicing over a drop in the ocean when compared to about $12bn forex demand we require.
That's why I said FDI would have been much better because it increases both forex liquidity and liquidity.
Besides, your report is for Q1 2023 which is January-March this year so you're soo off the mark in your aim which is to zombiecally bootlick your master.

This is impressive. We pray for the best.

boltwings:
how would FDI increase when government is increasing taxes on everything, companies are shutting down due to increase in the cost of production and exchange rate is far weaker and unstable than before. Stop ur propaganda and start saying the truth. lies is what got us to this point of failure .

Do you even know why FPI increased? it increased because investors saw the free floating exchange rate as a means of making quick money. can naira challenge dollar in fx and stock exchange market? if na u b foreigner u no go pump in money to cash out fast which would inturn increase the value of dollar against naira. this is why dollar shut up to 789. From my current finding here, it's like the unification has been put on hold.

I hope the bolded is not true

LegendHero:


No, government is not increasing any tax. Can you mention one tax increase that Tinubu government did since assuming power that will impact companies?

Infact, government is even decreasing tax and removing bottleneck. The new tax team they set up will finalize that.

Oga there is huge 20% increase on soft drinks tax at the moment. many levee is being increased as we speak. Tax reform committee is being set up...what do you think the tax committee are coming to do?.... prepare for more shege.

How I wish propaganda dey help Economy, Nigeria wouldn't have become the poverty headquarter of the world.


Continue, while your slippers is almost completely file because of trekking.

boltwings:
Oga there is huge 20% increase on soft drinks tax at the moment. many levee is being increased as we speak. Tax reform committee is being set up...what do you think the tax committee are coming to do?.... prepare for more shege.

Provide the evidence bro.

Where is the evidence that Tinubu government increase tax on soft drink by 20%?

Kukutenla:

That's why I've been asking what's next after devaluing the naira and subsidy removal and none of the supporters can answer. Even they don't know. They are just doing siddon look like football spectators

Asking "what's next?" is not an intelligent question. No one is going to answer that. Even in the US where there is liquidity of information, people can only make educated guesses.

My guess is that Nigeria is saving about 400bn per month. In two months we expect subsidy savings to be about 800bn or just north of that. On the crude export side Nigerian bpd is now over 1.2 bn bpd up from a low of 990,000 bpd. This should provide some headroom for government to begin palliative measures aimed at increasing productivity.

Nigeria will still need to value and sell assets but it cannot do so now from a position of weakness. I expect FGN to sell additional stakes in NNPC and its JVC. I expect same in gas. I expect also that rail and track will be concessioned separately. This will create the runway for domestic productivity and growth.

Nigeria needs to raise funds. That is the name of the game now - not addressing inflation or price of pepper through unsustainable interventions. Unemployment is being addressed through efforts to close infrastructure deficits. I observe that repair of ALL Federal roads has been placed on a 60 day sprint - which will fund goods and service at the base of the pyramid. These kind of interventions are short term and will not succeed across the spectrum.

But all things remaining the same I see the NGN finding true value at 650-680 in Q1 2024. It is currently undervalued. I also expect growth of 3.6 -4% by Q2.

These are modest gains but the name of the game now is momentum. Once momentum is sustained, hoarders of currency in the BM will be broken and naira will find its true value. Once this price level is reached import based inflation will begin to fall and so will prices.

Hope you are satisfied now that somebody has offered his own guesstimate of the government's economic plan?

Pppl are really suffering my standard of living has reduced ..although I still eat breakfast at work and dinner when I get home from work..my giving is now with calculations if not for ppl who come to my desk to drop some heavy sum of appreciation and some commission here and there with Side hustle To buffer the reduced value of the money coming in wetin pesin for do

Apc cant push propaganda without ever shooting themselves in the foot..smh

Massiveglory:
Throw this audio propaganda inside aso rock dust bin.
The country is in a huge mess. The suffering in the land is on somalia level.

no bad citizen can build a great nation, until the Nigerian citizen accept this 😜✍️

Sablexxxtoons:
Jagaban effect

Some of you on this forum, it's very obvious they didnt press your head with hot water after birth.

Simply Google dollar to naira and discover how foolish you are. People who cant defend their propaganda. Tueh

LegendHero:


Provide the evidence bro.

Where is the evidence that Tinubu government increase tax on soft drink by 20%?

do your research, I don't have time waste

boltwings:
do your research, I don't have time

Lol 😂

You think here na your village square before where you fit bandy around fake news.

boltwings:
Oga there is huge 20% increase on soft drinks tax at the moment. many levee is being increased as we speak. Tax reform committee is being set up...what do you think the tax committee are coming to do?.... prepare for more shege.

You have time to be engaging batists

You better save your energy for sensible people

Good signal

LegendHero:


Lol 😂

You think here na your village square before where you fit bandy around fake news.

u are not up to date...low mind

boltwings:
u are not up to date...low mind

I agree I’m not up to date.

Now please show me proof Tinubu increased beverage tax by 20% since you are up to date.

Massiveglory:

Bag of cement is now 5200. Laslas You will soon sell father's house and land for biafra people.
Dem go soon buy am, throw you for street.
You go still finish the money as na baba ijebu and bet 9ja you go use am do.

That's if gunmen hasn't kill you finish in Biafra land before then

LegendHero:


Na every poor Igbo be trillionaire online.

Na mumu dey reply people like you online.

They're always quick to talk about wealth and poverty as though they're well off personally compared to the person they're speaking with. And to think they know nothing about the person they're talking to but still assume they're wealthier makes them appear very stupid.

I'm sure that cost of cement applies only to their region. In Abuja, it goes for 4500, 4600.

Very silly 🤡🤡🤡

BreconHills:


Asking "what's next?" is not an intelligent question. No one is going to answer that. Even in the US where there is liquidity of information, people can only make educated guesses.

My guess is that Nigeria is saving about 400bn per month. In two months we expect subsidy savings to be about 800bn or just north of that. On the crude export side Nigerian bpd is now over 1.2 bn bpd up from a low of 990,000 bpd. This should provide some headroom for government to begin palliative measures aimed at increasing productivity.

Nigeria will still need to value and sell assets but it cannot do so now from a position of weakness. I expect FGN to sell additional stakes in NNPC and its JVC. I expect same in gas. I expect also that rail and track will be concessioned separately. This will create the runway for domestic productivity and growth.

Nigeria needs to raise funds. That is the name of the game now - not addressing inflation or price of pepper through unsustainable interventions. Unemployment is being addressed through efforts to close infrastructure deficits. I observe that repair of ALL Federal roads has been placed on a 60 day sprint - which will fund goods and service at the base of the pyramid. These kind of interventions are short term and will not succeed across the spectrum.

But all things remaining the same I see the NGN finding true value at 650-680 in Q1 2024. It is currently undervalued. I also expect growth of 3.6 -4% by Q2.

These are modest gains but the name of the game now is momentum. Once momentum is sustained, hoarders of currency in the BM will be broken and naira will find its true value. Once this price level is reached import based inflation will begin to fall and so will prices.

Hope you are satisfied now that somebody has offered his own guesstimate of the government's economic plan?

Ignoring the obvious insult as it seems it is borne out of frustration of not having any direct response to my question.
It is laughable that you run to the US for cover for the fact that you are not sure of what your political god is doing next to move the economy forward after the twin shocks of subsidy removal and naira devaluation. Did you ask Americans and they told you they only vote on "guesstimates" from roadside analysts and hallelujah boys? But that's a matter for later.
All the beautiful jargons you wrote, which you aptly describe as "guestimates" are further proof none of you know where your driver is taking you to. What you are offering is polemics and empty mumbo jumbo. You cannot say with certainty what your Messiah is going to do to turn this corner. You are just writing wild based on your imaginations.
That's the kernel of my point. The blind leading the blind usually fall into a ditch. Even little Isaac had to ask his father where the sacrificial lamb is, at the middle of the journey to the Mount. That's what i expect supporters of this govt, if they really mean well for this country, to be asking those they voted into office at this juncture. There seems to be no plan on ground being executed, and the leader of the nation who brought the present gloom as much admitted that. What is required now of sensible citizens is to ask questions about the way forward instead of shooting from the hips writing nonsense as if subsidy removal and naira devaluation will lead to economic boom of themselves.
You failed woefully to get the point. Very shameful!!

LegendHero:


Stop crying. The government is just 1 month and few weeks.

To build a country, it doesn’t take only 2 month. When the FG start rolling out the necessary program that’ll serve as palliative to the people, things will start to change.

All this indices you are seeing are what contributes to stability in the long run. Relax and stop being an angry bird over every positive Nigeria news.

Anybody that wants to cry should cry, atleast he owns his tear.

The palliative should have been what comes first..not vice versa of what is happening now 🤏

LegendHero:


Stop crying. The government is just 1 month and few weeks.

To build a country, it doesn’t take only 2 month. When the FG start rolling out the necessary program that’ll serve as palliative to the people, things will start to change.

All this indices you are seeing are what contributes to stability in the long run. Relax and stop being an angry bird over every positive Nigeria news.

Emmy000seun:
The palliative should have been what comes first..not vice versa of what is happening now 🤏

Where will they see money for the palliative? Borrow am?

Or you think to increase minimum wage, you can just use any money?

Flets:
1. 1Q23 was still Buhari's government

2. Its common sense to know that no serious portfolio will invest in Nigeria at the moment because of the forex instability and economic uncertainties with the current FG policies.

3. The anticipated stabilization of the naira with free floating has backfired because the demand outweighed supply. CBN is currently urging IOCs to sell to banks to aid supply ..... unfortunately that will be insufficient. The Naira devaluation will continue until CBN finally intervenes with halting the free floating. Dont argue .... just keep watching

The truth is PMB left a complete mess.

It is alleged there's up to $12bn of unmet dollar demand at the time of his departure.

An economist here suggest that the country reaches an agreement with the IMF. The IMF will provide balance of payment support. However, it will come with stiff conditions, some which will be thrown out such as a cut in the size of the civil service. That's untouchable in the first term.

However, the Naira seems to have stabilized at around 760, so it's not all bad.

That means companies can now charge for goods and services at a convertible exchange rate rather than be at the mercy of bureaucrats who apportion it indiscriminately.

Most importantly, these are still early days.

Kukutenla:

Ignoring the obvious insult as it seems it is borne out of frustration of not having any direct response to my question.
It is laughable that you run to the US for cover for the fact that you are not sure of what your political god is doing next to move the economy forward after the twin shocks of subsidy removal and naira devaluation. Did you ask Americans and they told you they only vote on "guesstimates" from roadside analysts and hallelujah boys? But that's a matter for later.
All the beautiful jargons you wrote, which you aptly describe as "guestimates" are further proof none of you know where your driver is taking you to. What you are offering is polemics and empty mumbo jumbo. You cannot say with certainty what your Messiah is going to do to turn this corner. You are just writing wild based on your imaginations.
That's the kernel of my point. The blind leading the blind usually fall into a ditch. Even little Isaac had to ask his father where the sacrificial lamb is, at the middle of the journey to the Mount. That's what i expect supporters of this govt, if they really mean well for this country, to be asking those they voted into office at this juncture. There seems to be no plan on ground being executed, and the leader of the nation who brought the present gloom as much admitted that. What is required now of sensible citizens is to ask questions about the way forward instead of shooting from the hips writing nonsense as if subsidy removal and naira devaluation will lead to economic boom of themselves.
You failed woefully to get the point. Very shameful!!

As usual tantrums! Zero logic

Massiveglory:

1 month and 4 wks and it is already on somalia level. Hunger wan kee you , you are here pushing useless propaganda of a criminal mandate.
Dem swear for you ni?

Keep masturbating for the next 8 years🤪

lionshare:


As usual tantrums! Zero logic

Point out the tantrums

It's a question. What is the plan after naira devaluation and subsidy removal? Is it to pray for the good Lord to take over?

Tell me and stop attacking the messenger while leaving the message

Buddha3:


Nigerians who have been tasked with brandishing the propaganda machinery of the APC and this current administration, know next to nothing.

In a bid to harmonise the dollar exchange rates at all levels, Tinubu decided to pull his first governmental experiment with the floating of the dollar against the naira. How he consciously sat down and reasoned that floating a currency whose availability you have no control of was the right move, just smirks of stupendous economic buffoonery.

Now the demand for that currency is through the roof, while your apex bank cannot even meet up this demand for imports and exports businessmen. We're not even talking about Nigerians schooling in the diaspora yet and what they need to fund their tuitions. And as it stands, any right thinking person will realise that this very policy is going to take a tumble in the days ahead. But in the heads of APC supporters, their god pulled a masterstroke.

The hunger is just beginning!

.
It's still early days. The Naira seems to have stabilized at circa 760. The floating was a must: to tell the market that the totally unfair and corruption riddled multiple exchange rates under PMB were gone for good.

Nigerian economists have largely been mute because this is still the watch stage. Rewane said he believes the Naira would eventually settle at the 640-680 range.

As for those who are schooling overseas, they should buy at the market determined rate or they want the "special" exchange rates under Buhari? If they can't afford it, they should come back home.

In the 1980s when Babangida's SAP devalued the Naira from like $1-N1 to N4, my secondary was suddenly filled with lots of kids from expensive British secondary schools whose parents could no longer afford their fees.

It seems it's a pattern that whenever fx is sold at overvalued and preferential rates, the demand for foreign education balloons.

Kukutenla:

Ignoring the obvious insult as it seems it is borne out of frustration of not having any direct response to my question.
It is laughable that you run to the US for cover for the fact that you are not sure of what your political god is doing next to move the economy forward after the twin shocks of subsidy removal and naira devaluation. Did you ask Americans and they told you they only vote on "guesstimates" from roadside analysts and hallelujah boys? But that's a matter for later.
All the beautiful jargons you wrote, which you aptly describe as "guestimates" are further proof none of you know where your driver is taking you to. What you are offering is polemics and empty mumbo jumbo. You cannot say with certainty what your Messiah is going to do to turn this corner. You are just writing wild based on your imaginations.
That's the kernel of my point. The blind leading the blind usually fall into a ditch. Even little Isaac had to ask his father where the sacrificial lamb is, at the middle of the journey to the Mount. That's what i expect supporters of this govt, if they really mean well for this country, to be asking those they voted into office at this juncture. There seems to be no plan on ground being executed, and the leader of the nation who brought the present gloom as much admitted that. What is required now of sensible citizens is to ask questions about the way forward instead of shooting from the hips writing nonsense as if subsidy removal and naira devaluation will lead to economic boom of themselves.
You failed woefully to get the point. Very shameful!!

I did not expect you to make any sense of what I wrote. I knew you couldn't understand it. Nothing you've written before indicates that you understand economic policy. I merely hung a commentary on a typically shallow comment. Sorry, it had to be you. It could have been anyone out of a dozen comments here. If you want to take me up on the points I raised I will give you considered answers but if you still want to wade in muddy waters - I am sorry I am not playing that game. Not today.