Ok

they like it like that

Bubu4Sea:
The Western World keeps fools like this in power, so that they can keep exploiting us

Now #naira is 700 - 800 to the dollar. Bastards

successmatters:
Is #216 to 1 dollar okay?, Noooooooooo

Now the fair value is #700 while the real value is #870 in the open market.

Some people are being taught some political lessons 😁😁😁

Do you think those APC politicians care even if Naira becomes like Somalia Currency? They have stored Dollars right from 2015 when APC took power. Nigerians are on a long walk home home led by a select group of politicians in charge of APC who would not let go. They stole presidential election of 2023 and asked others to go to court after their APC had appointed most of the court judges since 2015.

Wale Edu is a great guy. Cool as cucumber. I think party affiliation has taken Pat Utomi away. We need them all to rescue Nigeria. All the "A" team of president BAT.....Ben akabueze, yemi cardoso, relwane, Augusto, fashola, elrufai etc.

The situation is very challenging. We need a tested team with a tested leader. Not untested like the two challenging the election. We need leaders that we can judge by past results.

Sweet tongue and oratory ability doesn't solve economic problems. I'm an Ibo fyi but a cosmopolitan one.

successmatters:
Is #216 to 1 dollar okay?, Noooooooooo

Now the fair value is #700 while the real value is #870 in the open market.

Some people are being taught some political lessons 😁😁😁

We are still teaching you political lessons. We run this game. Tinubu has the best team anyone can think of. You will see many politicians in his team, but these politicians are also professionals. Will a bank MD stop being a professional just because he joined politics? Will a medical doctor stop being a professional just because he joined politics?

Tinubu just brought a new horn from KPMG just as he brought many in the past. Just open your eyes and see, Emilokan Asiwaju Jagaban will do is proud.

“The N860 to $1 we are seeing is not backed up by any fundamentals. The fact that these are as a result of the foreign exchange practice of the past with the inefficiency and the corruption involved, these are putting pressure on the exchange rate.

Witchcraft economics!

The I&E window cannot cater for all the imports needs and their associated forex demands we are used to, it is only natural people seek alternatives and that alternate source of forex is open to its own push/pull of demand, supply and pricing.

He makes it sound as though the people heading to the black market created by scarcity of forex from I&E are doing so to spite the government or for fun sake. They have no alternative and so head there and would still do even if the black markets reaches N2000/$, only in lesser extent.

These are the clowns grandstar and omohayek are always regurgitating their moronic jargons on Nairaland. Probably whispering same in the corridors of power as the solution. Clowns.

Wale edun should not be made financial minister, I always think that this man was a great financial expert, but all what he said at the Senate screening was just a balablu, shallow and unprofessional statements, that is not different from SSS3 economics student.
Why can't he talk about Naira redomination, it was done in Ghana,so why can't all these our financial experts talk about it.

yemmywesey:
Wale edun should not be made financial minister, I always think that this man was a great financial expert, but all what he said at the Senate screening was just a balablu, shallow and unprofessional statements, that is not different from SSS3 economics student.
Why can't he talk about Naira redomination, it was done in Ghana,so why can't all these our financial experts talk about it.

And what is the situation of Ghana’s economy after the redenomination?

“The N860 to $1 we are seeing is not backed up by any fundamentals. The fact that these are as a result of the foreign exchange practice of the past with the inefficiency and the corruption involved, these are putting pressure on the exchange rate.

1. It's is backed by inefficient government
2. So it's no longer market forced but foreign exchange practice ?
3. Inefficiency and corruption from who and where ? APC past ( Buhari/Tinubu ) or ( Tinubu/El Rufai ) present government ?
4. APC pre 2015; $1 should be #1. APC 2023, $1 should be #700 ?
Hmmm

seunmsg:


And what is the situation of Ghana’s economy after the redenomination?

It's okay
What is the exchange rate of cedis to dollar

When wema bank is selling 945 per USD

yemmywesey:


It's okay
What is the exchange rate of cedis to dollar

https://www.africanews.com/2022/10/18/ghanas-cedi-now-the-worlds-worst-performing-currency-as-kenyas-shilling-also-struggles//#:~:text=Ghana's%20cedi%20slumped%20on%20Monday,%2F%24%20in%20the%20capital%2C%20Accra.

seunmsg:


https://www.africanews.com/2022/10/18/ghanas-cedi-now-the-worlds-worst-performing-currency-as-kenyas-shilling-also-struggles//#:~:text=Ghana's%20cedi%20slumped%20on%20Monday,%2F%24%20in%20the%20capital%2C%20Accra.

why bringing out old news here. Ghana cedi is faring better than naira as of present. The edun guy is not financial expert in any way.

IboHausaYoruba:
Hmmn! Imagine settling for this ridiculous rate. During the dreaded Abacha regime, Naira was 80 to 1 dollar. Now what do we have, naira skyrocketing on daily basis. £1000 is over 1M as at today. That's the lowest a meagre salary earner can make in 2 weeks in the UK. I pity the masses and I always ask myself how do we get to this mess?

And how much was Naira to Dollar when we became independent. Apparently, you are trying to justify why we should go back to military regime. Military is not the answer to better Nigeria. We will surely be there someday.

IboHausaYoruba:
Hmmn! Imagine settling for this ridiculous rate. During the dreaded Abacha regime, Naira was 80 to 1 dollar. Now what do we have, naira skyrocketing on daily basis. £1000 is over 1M as at today. That's the lowest a meagre salary earner can make in 2 weeks in the UK. I pity the masses and I always ask myself how do we get to this mess?

He used a word you must key on and that is "fundamentals."

If a 15 year old girl is pregnant, one of the fundamentals is that she must have had sex, whether consensual or not. Another fundamental is that either she did not use protection or it wasn't efficient enough or it was sabotaged by her boyfriend.

Would it be reasonable for her father to believe that his daughter became pregnant without any of the above? No. That would be living in denial.

Now, Mr. Wale Edun has said the Naira should hover around 700. Though you consider it ridiculous is immaterial. It does not mean Wale Edun likes it but just stating the reality on ground.

If it is favourable to them is a fair value.. very funny people.. let the poor breath.

Nothing we never had before, may God give them the heart to be committed, sincere, and read to serve the people of the federation.

Omoluabi111:
He's not wrong

Just over 200 Naira was lambasted by opposition in 2015, but now 700 is ok?

Abeg my brother, tell us how many more finished industrial goods we supply in huge quantities to China, USA, France, NZ, UK or even ECOWAS countries that we didn't produce in 2015. Valuable goods that we want to now make more competitive in World market with low Naira value.
Fact is economic downturn and suffering affects every tribe, political affiliation, etc. So let's be honest.

Dem don realise enough to pacify the people so next they will peg the naira to N700/$ story continue

ijustdey:
•Hints on measures to boost economic recovery

•Says office of accountant general of FG should be created

•Justifies plan to distribute $800m cash to vulnerable Nigerians

•El-Rufai: N1.6tn subsidy on electricity not sustainable, wants Discos taken away from banks’ mgt

•Kogi Senator presents petition against former Kaduna governor

•Dangiwa wants informal sector involved in mortgage sector

•Female nominee shed tears during screening



https://www.thisdaylive.com/index.php/2023/08/02/at-ministerial-screening-wale-edun-says-naira-fair-value-is-n700-1?amp=1

Tinubu sponsored occupy Nigeria in 2012 saying all manners of things against the ruling govt now he has come to fair badly. Babablublu 🌽🌽🌽eating man

Dancebreaker:

Just over 200 Naira was lambasted by opposition in 2015, but now 700 is ok?

Abeg my brother, tell us how many more finished industrial goods we supply in huge quantities to China, USA, France, NZ, UK or even ECOWAS countries that we didn't produce in 2015. Valuable goods that we want to now make more competitive in World market with low Naira value.
Fact is economic downturn and suffering affects every tribe, political affiliation, etc. So let's be honest.

200 Naira when oil prices were sky high and the country actually had a reserve. Fast forward almost 10 years later, oil is no longer lucrative, in fact the way Nigeria treats its oil is deadass backwards.

Dig crude oil, sell to outside countries, buy it back from them in refined form and then subsidize the cost to the citizens? As if that's not bad enough, government had to borrow the money for the subsidy......No be juju be that?

We can keep blaming the present administration or we can accept that ALL of them, both past and present are responsible for the predicament! Until we refine our own oil, focus less on importation and more on exportation, nothing changes. Till we do this.....THE SHEGE SHALL BE REVOLUTIONARY!

ijustdey:
•Hints on measures to boost economic recovery

•Says office of accountant general of FG should be created

•Justifies plan to distribute $800m cash to vulnerable Nigerians

•El-Rufai: N1.6tn subsidy on electricity not sustainable, wants Discos taken away from banks’ mgt

•Kogi Senator presents petition against former Kaduna governor

•Dangiwa wants informal sector involved in mortgage sector

•Female nominee shed tears during screening



https://www.thisdaylive.com/index.php/2023/08/02/at-ministerial-screening-wale-edun-says-naira-fair-value-is-n700-1?amp=1

this govt will run into trouble from those that don’t know how to talk.how is 700 ok to 1$..Tinubu self no send am talk this rubbish I can bet.

IboHausaYoruba:
Hmmn! Imagine settling for this ridiculous rate. During the dreaded Abacha regime, Naira was 80 to 1 dollar. Now what do we have, naira skyrocketing on daily basis. £1000 is over 1M as at today. That's the lowest a meagre salary earner can make in 2 weeks in the UK. I pity the masses and I always ask myself how do we get to this mess?

Abacha pegged the dollar at #22 to $1

abbey621:


200 Naira when oil prices were sky high and the country actually had a reserve. Fast forward almost 10 years later, oil is no longer lucrative, in fact the way Nigeria treats its oil is deadass backwards.

Dig crude oil, sell to outside countries, buy it back from them in refined form and then subsidize the cost to the citizens? As if that's not bad enough, government had to borrow the money for the subsidy......No be juju be that?

We can keep blaming the present administration or we can accept that ALL of them, both past and present are responsible for the predicament! Until we refine our own oil, focus less on importation and more on exportation, nothing changes. Till we do this.....THE SHEGE SHALL BE REVOLUTIONARY!

So you now admit without knowing it that good governments make tough decisions when economy is seemingly good so that the impact will not weigh too much on the currency. Removing subsidy in 2012 would have meant 9ja had enough reserve and decent income to cushion the inflationary effects.

Simple logic dictates that you save in times of plenty to safeguard lean days in the future. Nigerians and Nigeria had more economic resilience to cope with subsidy removal in 2012 than right now. We could have begun renovating refineries 11 years ago with saved subsidy money.

BUT APC opposed it and protested everywhere. So why did APC spend good 8 years without removing subsidy? Economically, 9ja is not more resilient now than it was in 2016, 2017, 2019 or say 2022, so why now?

So it turns out that GEJ that you people and APC dubbed clueless actually had foresight. But he was from the wrong tribe because some tribes claim monopoly over intelligence and ability.

Remember too, low crude oil price in theory means cheaper price in the international market to import PMS. Meaning reduced total subsidy IF our elite including those in FG right now actually let us have the correct PMS consumption figures and not send half of subsidised PMS to other African countries to line their pockets.

IboHausaYoruba:
Hmmn! Imagine settling for this ridiculous rate. During the dreaded Abacha regime, Naira was 80 to 1 dollar. Now what do we have, naira skyrocketing on daily basis. £1000 is over 1M as at today. That's the lowest a meagre salary earner can make in 2 weeks in the UK. I pity the masses and I always ask myself how do we get to this mess?

Actually, OFFICIAL rate was N22 to the dollar. Black market was different, but it was under N40, I think. This is not to say Mr Abacha was a good president or a good human being or a good economic manager. That was simply the rate that TIME, little to do with the goggled dictator.

ijustdey:
•Hints on measures to boost economic recovery

•Says office of accountant general of FG should be created

•Justifies plan to distribute $800m cash to vulnerable Nigerians

•El-Rufai: N1.6tn subsidy on electricity not sustainable, wants Discos taken away from banks’ mgt

•Kogi Senator presents petition against former Kaduna governor

•Dangiwa wants informal sector involved in mortgage sector

•Female nominee shed tears during screening



https://www.thisdaylive.com/index.php/2023/08/02/at-ministerial-screening-wale-edun-says-naira-fair-value-is-n700-1?amp=1

Wale Edun... A brilliant technocrat based on his previous antecedents.

Bubu4Sea:
The Western World keeps fools like this in power, so that they can keep exploiting us

Was it the West that rigged Tinubu into power?

Clown.

WorldRichest:


We are still teaching you political lessons. We run this game. Tinubu has the best team anyone can think of. You will see many politicians in his team, but these politicians are also professionals. Will a bank MD stop being a professional just because he joined politics? Will a medical doctor stop being a professional just because he joined politics?

Tinubu just brought a new horn from KPMG just as he brought many in the past. Just open your eyes and see, Emilokan Asiwaju Jagaban will do is proud.

Crap.

After all the teams he assembled lagos is still a slumb.

Dancebreaker:


So you now admit without knowing it that good governments make tough decisions when economy is seemingly good so that the impact will not weigh too much on the currency. Removing subsidy in 2012 would have meant 9ja had enough reserve and decent income to cushion the inflationary effects.

Simple logic dictates that you save in times of plenty to safeguard lean days in the future. Nigerians and Nigeria had more economic resilience to cope with subsidy removal in 2012 than right now. We could have begun renovating refineries 11 years ago with saved subsidy money.

BUT APC opposed it and protested everywhere. So why did APC spend good 8 years without removing subsidy? Economically, 9ja is not more resilient now than it was in 2016, 2017, 2019 or say 2022, so why now?

So it turns out that GEJ that you people and APC dubbed clueless actually had foresight. But he was from the wrong tribe because some tribes claim monopoly over intelligence and ability.

Remember too, low crude oil price in theory means cheaper price in the international market to import PMS. Meaning reduced total subsidy IF our elite including those in FG right now actually let us have the correct PMS consumption figures and not send half of subsidised PMS to other African countries to line their pockets.

You're still talking about APC, go back and read what I wrote. Until the blame game stops and government does the needful, NOTHING CHANGES!

Omoluabi111:
He's not wrong

Neither is he right !

I HEARD WALE EDUN TOO. N700 : $1 CAN BE TOLERATED UP TILL THE END OF TINUBU'S 100 DAYS.
AS SOON AS WE IMPROVE OUR LOCAL PRODUCTION AND EXPORT, THE RATE MUST GO DOWN TO N100:$1.