Nemere2020:


https://nairametrics.com/2023/07/11/ie-window-crashes-to-all-time-low-at-n788-42-1/

Those clueless id!ots handling the government and the CBN will now understand why Emefiele was always "defending" the naira.

You can't just wake and, without asking any questions, float a naira that has no strong footings.

You'll only end up giving it unbridled freedom to fly to the moon.
This is economic sabotage & terror!sm and those responsible should be held accountable for it, and we know them.

This is just the beginning.

Una never see anything .

There are lots of educated illeterates in this country and this same people are also disingenuous, you are not interested in reality but clannishness, tribalism and useless shoulder competition. All you do is to complain, some of you expect miracles and the annoying and most stupid amongst your statement is mentioning Obi all the time, this man did not perform one magic, not one transformation during his previous political tenure and you believe in one month he would have performed a magic to reduce dollar, and make fuel cheaper, and to cap it all you mention palliative measures to help, which difference would palliative measures make? The same palliative that would be budgeted in hundreds of billions that you would still use to insult the govt and claim it is corruption?

Then you talk about reducing govt spending, fine even if that is done, it is just a drop in the ocean concerning the matters on ground here and I'll tell you why, Tinubu can only prune the executive budget, he cannot touch the legislative budget , so I ask how much is the executive budget for year and how much of it would be cut that would make sense, do not forget that the executive budget contains the budget for the president, VP's office, Also rock et al, then the budget for all ministries and agencies of the govt so I ask how much should be cut that would be enough to offer palliatives?

Lastly, for those interested, what you are seeing currently is the reality of your economy that Buhari has been borrowing to increase our debt to cover. Yes all the borrowing you were insulting Buhari about , about 30-40% of it is spent on putting facade and makeup on the naira and the economy and this includes the subsidy payment they incurred, now that those are no more, you are using your eyes to see the real image of your economy. The real question you should rather ask Tinubu now is what is he going to do to start the repairs cos this is like a damaged car that you have seen the impact of the damage now ykj want to repair. What are the plans to start the repairs and how long would it take before it gets further damaged. So instead of gnashing of teeth and insulting people everyday in here , we need to ask for the solutions. Examples of these solutions should be what is the timeline for the repair of the other refineries Buhari was working on before he handed over?, What is the timeline for Dangote?, What are the plans in place for increase our exportation ?we need more dollar into the system, what are the ways to get more of these ?, How do we discourage more dollar spending ? Opening the economy, seaports on other regions etc not asking for handouts that would be borrowed with loans , with little getting to the people and govt officials making a killing out of it.

This tinubu guy enh. . Hmm. Let us just heavily keep praying for Nigeria to breathe and live...

He rushed everything too much. . God have mercy on Nigerians.

TrueNigerian300:


You guys are just foolish, if Obi had won would dollar be equal 410
It was never about good governance for you fools but just want one of your kinsmen to be there.
Any reasonable person knows that the unification of the exchange rates is the right thing to do. But half educated illiterate like you think otherwise.

I just pity some of you fools sometimes and wonder who gave birth to you.

Oga stop trying to rationalise the bull shit you guys have done and admit you made a mistake. It is obvious that Tinubu has no plan, it was all about grabbing power and running with it. Becoming president and answering the name was all he wanted, not that he wants to serve make no mistake about it. Subsidy removal was an attempt by him to copy PO's plan, but it backfired in his implementation, the floating of Naira via CBN FX unification was also a copy cat from Sowore's manifesto again implementation gone wrong.
It will not hurt you to speak truth to power and admit you made a wrong choice.

Kayyy:
There are lots of educated illeterates in this country and this same people are also disingenuous, you are not interested in reality but clannishness, tribalism and useless shoulder competition. All you do is to complain, some of you expect miracles and the annoying and most stupid amongst your statement is mentioning Obi all the time, this man did not perform one magic, not one transformation during his previous political tenure and you believe in one month he would have performed a magic to reduce dollar, and make fuel cheaper, and to cap it all you mention palliative measures to help, which difference would palliative measures make? The same palliative that would be budgeted in hundreds of billions that you would still use to insult the govt and claim it is corruption?

Then you talk about reducing govt spending, fine even if that is done, it is just a drop in the ocean concerning the matters on ground here and I'll tell you why, Tinubu can only prune the executive budget, he cannot touch the legislative budget , so I ask how much is the executive budget for year and how much of it would be cut that would make sense, do not forget that the executive budget contains the budget for the president, VP's office, Also rock et al, then the budget for all ministries and agencies of the govt so I ask how much should be cut that would be enough to offer palliatives?

Lastly, for those interested, what you are seeing currently is the reality of your economy that Buhari has been borrowing to increase our debt to cover. Yes all the borrowing you were insulting Buhari about , about 30-40% of it is spent on putting facade and makeup on the naira and the economy and this includes the subsidy payment they incurred, now that those are no more, you are using your eyes to see the real image of your economy. The real question you should rather ask Tinubu now is what is he going to do to start the repairs cos this is like a damaged car that you have seen the impact of the damage now ykj want to repair. What are the plans to start the repairs and how long would it take before it gets further damaged. So instead of gnashing of teeth and insulting people everyday in here , we need to ask for the solutions. Examples of these solutions should be what is the timeline for the repair of the other refineries Buhari was working on before he handed over?, What is the timeline for Dangote?, What are the plans in place for increase our exportation ?we need more dollar into the system, what are the ways to get more of these ?, How do we discourage more dollar spending ? Opening the economy, seaports on other regions etc not asking for handouts that would be borrowed with loans , with little getting to the people and govt officials making a killing out of it.

Beautiful nonsense written by you,in another subtle attempt to rationalise the mistake you made in the elections. Look no one is expecting magic from Tinubu, but hope you realise that in 30days of his blitzkrieg policies and signing of bills and arresting you know who, Nigerians have become poorer and still his regime has no direction on how to move this country forward. Of all the candidates that campaigned only two candidates indicated what they would do and how to go about it, Peter Obi and Sowore and ironically the first two policy decisions Tinubu made were copy cat moves from these two candidates, but alas anything copycat is always going to go wrong in implementation.

Naija go chop breakfast well we’ll. Foolish Nigerians supporting evil will suffer most.

TrueNigerian300:


Before now people buy dollars from CBN at 460 and sell to the parallel market at 760 making millions for doing nothing. The idea of subsidizing the dollars was not totally bad but people abused it and also it is not sustainable particularly at this time. Another thing is the fact that people that benefits from it are mostly people that buy and resell at the parallel market making huge profits for doing nothing, it is just like some very few people are sharing whay belongs to us all. Why can't the money be used to build roads that can benefit everyone

So now that it has partially floated what has happened?

Kayyy:
There are lots of educated illeterates in this country and this same people are also disingenuous, you are not interested in reality but clannishness, tribalism and useless shoulder competition. All you do is to complain, some of you expect miracles and the annoying and most stupid amongst your statement is mentioning Obi all the time, this man did not perform one magic, not one transformation during his previous political tenure and you believe in one month he would have performed a magic to reduce dollar, and make fuel cheaper, and to cap it all you mention palliative measures to help, which difference would palliative measures make? The same palliative that would be budgeted in hundreds of billions that you would still use to insult the govt and claim it is corruption?

Then you talk about reducing govt spending, fine even if that is done, it is just a drop in the ocean concerning the matters on ground here and I'll tell you why, Tinubu can only prune the executive budget, he cannot touch the legislative budget , so I ask how much is the executive budget for year and how much of it would be cut that would make sense, do not forget that the executive budget contains the budget for the president, VP's office, Also rock et al, then the budget for all ministries and agencies of the govt so I ask how much should be cut that would be enough to offer palliatives?

Lastly, for those interested, what you are seeing currently is the reality of your economy that Buhari has been borrowing to increase our debt to cover. Yes all the borrowing you were insulting Buhari about , about 30-40% of it is spent on putting facade and makeup on the naira and the economy and this includes the subsidy payment they incurred, now that those are no more, you are using your eyes to see the real image of your economy. The real question you should rather ask Tinubu now is what is he going to do to start the repairs cos this is like a damaged car that you have seen the impact of the damage now ykj want to repair. What are the plans to start the repairs and how long would it take before it gets further damaged. So instead of gnashing of teeth and insulting people everyday in here , we need to ask for the solutions. Examples of these solutions should be what is the timeline for the repair of the other refineries Buhari was working on before he handed over?, What is the timeline for Dangote?, What are the plans in place for increase our exportation ?we need more dollar into the system, what are the ways to get more of these ?, How do we discourage more dollar spending ? Opening the economy, seaports on other regions etc not asking for handouts that would be borrowed with loans , with little getting to the people and govt officials making a killing out of it.

You end up magnifying your ignorance in your last paragraph. If BAT was sensible enough he could have asked the question before making his policies.

Must the common man always suffer? You can not beat a child and ask him not to cry. For now BAT is afflicting Nigerians with his policies.
They have to complain. They are better ways to implement this policies

MykellOni:
Attendance: Present ✔️
Hmmmm this one wey naira dey devalue everyday by day so., Omoh I hope say e don dey favour all those it will favour me and my family peeps them so o.
I jz pray say no be from fry pan to fire we dey go so. It is well!

It's clearly obvious that we will miss buhari

This unified exchange is not working!!! Revert to CBN rate so importers can do more!

salbis:

This government will favour me and my family crew are getting their own exchange rate at 410 naira to a dollar.

Las las una must get sense sha.

Unifying the markets is a sound economic doctrine.

Any sane person in power (except Buhari), ought to do two things 1. Unify the currency and deregulate the downstream.

NONE OF THE CONTESTANTS FOR PRESIDENTIAL ELECTION WOULDN'T DO THIS. EXCEPT THEIR ARE BUHARI PRO MAX.

bassdow:
Despite Banning AbokiFx, their App is still in use by the Aboki's. That's what they use. CBN only made them stop using the website. But the APPs still continues to function and almost all the ABOKIs have it on their Android phones.

Before they make any transaction, they either make a CALL or they check the App.

Government think they could easily control certain things

I never even knew they have app but this shouldn't affect I & E window from the little I know should it?

Blaze14k:
According to agbadorians may this administration favour me and my family. Who will imagine that pounds to naira will exceed 1000. We are getting BATIFIED

LET THE POOR BREATHE😂😂

Even aboki no fit do business as usual😂🤣😂

On Tinubu's m@nhood we shall forever stand

Foolish decision to collapse rate without discouraging some demands for foreign goods with local production boost or heavier import tax. The man was after indices and not real improvements.

bassdow:
Despite Banning AbokiFx, their App is still in use by the Aboki's. That's what they use. CBN only made them stop using the website. But the APPs still continues to function and almost all the ABOKIs have it on their Android phones.

Before they make any transaction, they either make a CALL or they check the App.

Government think they could easily control certain things

AbokiFX reports what's happening and does not not dictate what happens really. It is greedy exchangers that are using AbokiFX to maximize their greed.

Kayyy:
There are lots of educated illeterates in this country and this same people are also disingenuous, you are not interested in reality but clannishness, tribalism and useless shoulder competition. All you do is to complain, some of you expect miracles and the annoying and most stupid amongst your statement is mentioning Obi all the time, this man did not perform one magic, not one transformation during his previous political tenure and you believe in one month he would have performed a magic to reduce dollar, and make fuel cheaper, and to cap it all you mention palliative measures to help, which difference would palliative measures make? The same palliative that would be budgeted in hundreds of billions that you would still use to insult the govt and claim it is corruption?

Then you talk about reducing govt spending, fine even if that is done, it is just a drop in the ocean concerning the matters on ground here and I'll tell you why, Tinubu can only prune the executive budget, he cannot touch the legislative budget , so I ask how much is the executive budget for year and how much of it would be cut that would make sense, do not forget that the executive budget contains the budget for the president, VP's office, Also rock et al, then the budget for all ministries and agencies of the govt so I ask how much should be cut that would be enough to offer palliatives?

Lastly, for those interested, what you are seeing currently is the reality of your economy that Buhari has been borrowing to increase our debt to cover. Yes all the borrowing you were insulting Buhari about , about 30-40% of it is spent on putting facade and makeup on the naira and the economy and this includes the subsidy payment they incurred, now that those are no more, you are using your eyes to see the real image of your economy. The real question you should rather ask Tinubu now is what is he going to do to start the repairs cos this is like a damaged car that you have seen the impact of the damage now ykj want to repair. What are the plans to start the repairs and how long would it take before it gets further damaged. So instead of gnashing of teeth and insulting people everyday in here , we need to ask for the solutions. Examples of these solutions should be what is the timeline for the repair of the other refineries Buhari was working on before he handed over?, What is the timeline for Dangote?, What are the plans in place for increase our exportation ?we need more dollar into the system, what are the ways to get more of these ?, How do we discourage more dollar spending ? Opening the economy, seaports on other regions etc not asking for handouts that would be borrowed with loans , with little getting to the people and govt officials making a killing out of it.

Wow. A lot of sense here

TrueNigerian300:


Before now people buy dollars from CBN at 460 and sell to the parallel market at 760 making millions for doing nothing. The idea of subsidizing the dollars was not totally bad but people abused it and also it is not sustainable particularly at this time. Another thing is the fact that people that benefits from it are mostly people that buy and resell at the parallel market making huge profits for doing nothing, it is just like some very few people are sharing whay belongs to us all. Why can't the money be used to build roads that can benefit everyone

that tells you that it is an institutional problem and not a policy problem. Who gives these people you are talking of dollars? The cbn of course.
Devaluing the naira has caused hyperinflation and local business would fold up, the people are plunged further in poverty.
If you ask me, it's putting the cart before the horse. This administration does not put the interest of the masses they govern first.
Just a pointer that the president is after making political points and not providing good governance was allowing already subsidized fuel to be sold at an exhorbitant price and he was mute about it.

pafra:


You end up magnifying your ignorance in your last paragraph. If BAT was sensible enough he could have asked the question before making his policies.

Must the common man always suffer? You can not beat a child and ask him not to cry. For now BAT is afflicting Nigerians with his policies.
They have to complain. They are better ways to implement this policies

I'm kind of in agreement with you here, however, the fact is, we are not, as the person you quoted there, earning enough dollars in the first place, which is part of why the naira is falling.

The question we should be asking Tinubu is, what is the plan to earn more forex.? Yes the common man is suffering, but it still does not change the fact that we are not earning enough forex.

It's expected that after subsidy removal and stoppage of parallel FX rates, there will be inflation and fall in naira value. It's later that prices will stabilize with naira rise. Wail reasonably, wail responsibly.

TrueNigerian300:


Before now people buy dollars from CBN at 460 and sell to the parallel market at 760 making millions for doing nothing. The idea of subsidizing the dollars was not totally bad but people abused it and also it is not sustainable particularly at this time. Another thing is the fact that people that benefits from it are mostly people that buy and resell at the parallel market making huge profits for doing nothing, it is just like some very few people are sharing whay belongs to us all. Why can't the money be used to build roads that can benefit everyone

In other words, you are asking the government to confiscate earnings so that roads can be built.

That's curious, and it could be another nice way of driving away investment.

Anyway, the main issue is simple. We are not earning enough in revenue, press your government on that.

Believeintruth:


Beautiful nonsense written by you,in another subtle attempt to rationalise the mistake you made in the elections. Look no one is expecting magic from Tinubu, but hope you realise that in 30days of his blitzkrieg policies and signing of bills and arresting you know who, Nigerians have become poorer and still his regime has not direction on how to move this country forward. Of all the candidates that campaigned only two candidates indicated what they would do and how to go about it, Peter Obi and Sowore and ironically the first two policy decisions Tinubu made were copy cat moves from these two candidates, but alas anything copycat is always going to go wrong in implementation.

So you are in essence saying that Tinubu copied Peter Obi (Sowore would have not removed subsidy by the way)....so if Peter Obi was in power, he would have done the same as Tinubu is doing now, and we would have had the same result.

Wonder what you would have said then?

(I did not vote for either Tinubu, Sowore or Obi by the way).

Tinubu is doing what he has to do because we haven't been making enough money. And even then, I expect Nigeria to borrow more.

Obi, at least, would have placed more emphasis on production...but even that takes time.

Can't they government ban this aboki black market

nairalanda1:


In other words, you are asking the government to confiscate earnings so that roads can be built.

That's curious, and it could be another nice way of driving away investment.

Anyway, the main issue is simple. We are not earning enough in revenue, press your government on that.

Reducing expenses will have the same effect as increasing revenues on the Naira exchange rate, and reducing dollar expenses is a lot easier to accomplish.

In Information Technology, networks are used to increase efficiency by sharing services across different users in an organisation( e.g. a printer on a network). If each user were to purchase a printer, it would be wasteful and expensive. Taxation and government spending work in a similar way, by pulling money from many people to provide shared services.

salbis:

This government will favour me and my family crew are getting their own exchange rate at 410 naira to a dollar.

Las las una must get sense sha.

OK then, the government will not favour you and you family in the 8 years window.

Illiterate crackhead

jconsulting:


Only lazy folks like you complain , when you earn USD you smile to bank. Go learn a skill , Data Analyst, Cyber Security, Customer Care Mgt and lot of programming languages are available to learn but since you are use to free money you complain your ass out

Oga shut up!

Britishpea:


OK then, the government will not favour you and you family in the 8 years window.

Illiterate crackhead

las las dat thing called sense, una must get am.

TrueNigerian300:


You guys are just foolish, if Obi had won would dollar be equal 410
It was never about good governance for you fools but just want one of your kinsmen to be there.
Any reasonable person knows that the unification of the exchange rates is the right thing to do. But half educated illiterate like you think otherwise.

I just pity some of you fools sometimes and wonder who gave birth to you.

e pain nam.
Las las that thing called sense, una must get am.

Believeintruth:


Beautiful nonsense written by you,in another subtle attempt to rationalise the mistake you made in the elections. Look no one is expecting magic from Tinubu, but hope you realise that in 30days of his blitzkrieg policies and signing of bills and arresting you know who, Nigerians have become poorer and still his regime has not direction on how to move this country forward. Of all the candidates that campaigned only two candidates indicated what they would do and how to go about it, Peter Obi and Sowore and ironically the first two policy decisions Tinubu made were copy cat moves from these two candidates, but alas anything copycat is always going to go wrong in implementation.

THEY ALL ThOUGHT THAT DIS IS 2015 THEY USED PROPAGANDA, OUR EYES DUN CLEAR NOW

salbis:

This government will favour me and my family crew are getting their own exchange rate at 410 naira to a dollar.

Las las una must get sense sha.

peter obi will not be president

MykellOni:
Attendance: Present ✔️
Hmmmm this one wey naira dey devalue everyday by day so., Omoh I hope say e don dey favour all those it will favour me and my family peeps them so o.
I jz pray say no be from fry pan to fire we dey go so. It is well!

peter obi will not be president

sotall:

One step forward, five steps backwards.

Anytime you hear a news like this, the next day expect hyper inflation.

On mandate, on manhood they Sha stand,🤠
It we favour there family 😁😁