mrvitalis:

If you want to learn say please and I would would give you solution... Easy solution

Stabilize the naira,create millions of jobs , increase government revenue, widen the tax net would increasing debt servicing

Government are meant to create policies and not create direct job.
What do you mean by stabilize the naira? The effort made to curb excess importation, the portharcourt refinery and dangote refinery are what to you?
What do mean by stabilize the naira? was he suppose to say " Naira! Price be still!" and boom you have a stable currency?

soccerlite:



Can't you just save yourself of dis stupidity you have been commenting

Can you please keep your insults to yourself?

tollyboy5:

Government are meant to create policies and not create direct job.
What do you mean by stabilize the naira? The effort made to curb excess importation, the portharcourt refinery and dangote refinery are what to you?
What do mean by stabilize the naira? was he suppose to say " Naira! Price be still!" and boom you have a stable currency?

Where did I say government would create job?
I said policy would create job

tollyboy5:

Government are meant to create policies and not create direct job.
What do you mean by stabilize the naira? The effort made to curb excess importation, the portharcourt refinery and dangote refinery are what to you?
What do mean by stabilize the naira? was he suppose to say " Naira! Price be still!" and boom you have a stable currency?

Lol@ " Naira! Price be still!"

He is supposed to be professor Peller with a magic wand.

mrvitalis:

If you know anything about economics you would know Tinubu have done more harm in 3 months than Buhari did in his last 4 years

Agreed that the president goofed especially floating the fx when we have no viable source or getting dollars and removing subsidy without an economic plan but those were knee jerk reactions to where the former president kept our economy.

way forward to avert catastrophe

1. reduce cost of governance...aides, special assistance and officials should be reduced for executives
2. the legislatures should also have a pay cut or allowances should be by sitting..
3. the govt should procure agric machineries to be given to bank of agric for farmers to use in plantations of arable, cash and food crops. regions specifically know for a particular crop or foods should be taken into huge consideration. eg tomatoes, yams in the North central, garlic, onions in the north west, cassava cocoa, oil palm in the south west.
doing this, we will have much food supply that will reduce food prices and inflation. Onto the cash crops, we should have local industries in processing them into FOOD RAW MATERIALS for export. these arent exportation of cash crops to help foreign companies..
4. the parallel market should be abolish and let CBN give $$$ and other FX to banks to deal in. Sanctions shd be given to banks who fail to honor any customers FX demand. this is hard to come by but it will unify the $ market

Itzlinda:



The main is issue is Nigeria is fucking broke.

You cannot even afford to pay the subsidy even if you want.

The true account of Nigerian foreign reserve is is just 3 billion dollar.

And emefiele still used that as collateral to borrow money which technically means you cannot used that.
At a point revenue is even greater than debt servicing.
Nigeria is bleeped. Naira will soon hit 2000 and there is nothing anybody can do about that

He supported buhari to be the president, so he should feel the heat. He has just four years to prove himself right.

mrvitalis:

The state Buhari left Nigeria has little or nothing to do with where we are today

Yes it was bad but not this bad

Removing of fuel subsidy, floating naira without having backing brought us here

Buhari is a failure yes but at least he was careful
Tinubu and his team are even more ignorant than Buhari team and are too carefree

Economy no be by gra gra... You tackle is slowly

None, zero of tinubu policy has worked all backfired leaving us far worse where we started

People like you think everything is politics, where is the cash for subsidy?

Where is the cash to defend the naira?

Just look at the number of ignorant persons that liked your post, maybe we should make you president of Nigeria.

Nigeria is in a big mess, regardless of who is president, at the moment the country is in a bad State financially.

plat0:
People like you think everything is politics, where is the cash for subsidy?

Where is the cash to defend the naira?

Just look at the number of ignorant persons that liked your post, maybe we should make you president of Nigeria.

Nigeria is in a big mess, regardless of who is president, at the moment the country is in a bad State financially.

You borrow... Borrow and give to business at low interest to produce what we import
Restructure the former loans

It's not rocket science

Zambia did it, Egypt did it

mrvitalis:

You borrow... Borrow and give to business at low interest to produce what we import
Restructure the former loans

It's not rocket science

Zambia did it, Egypt did it

you borrow and borrow and you think in one year the economy will bounce back from borrowing to fund businesses?


Do you know the amount of money the local content board and the NNPC has invested in refineries that are being built in Nigeria?

When you borrow to give the manufacturers, how long do you think it'll take for their businesses to be up and running?

Because you see everything from a political lens, you probably think Nigerians won't suffer from the past administrations ineptitude?


You think a man will come and overnight they'll be jobs everywhere?

mrvitalis:

Obi won't stop trying to make yourself feel good

Obi was clear to stabilize the naira we need more loan, more loan used only to fund manufacturing sectors

Nah bros if u don't know u don't know

It sounds good in theory until you put in in practice then you see it's not as easy as you think?

Besides taking more foreign loans means you interest service cost will increase many fold!

Obierika:


It sounds good in theory until you put in in practice then you see it's not as easy as you think?

Besides taking more foreign loans means you interest service cost will increase many fold!

You won't increase foreign debt servicing if the money is given directly to the bank and FG would just guarantee the loans

soccerlite:



Where will the leadership come from?


Ehn!

We're still experimenting. We're not there yet. But definitely sooner than later, we will. All these factors would be catalyst in choosing right in near future

Adjovi:
If they should tell me anyone can be worse than Buhari I will argue it.

For Buhari to be better than anyone , that means you are very very much brain dead. As in God.....it no go better for Una wey dey support APC o

Buhari isn't better than anyone..
The boobytrap buhari set for his successor was so much, u no fit escape am.
That man literally took us back to stone age..
Soon Nigerians will start cooking with firewood n sawdust cos LPG and kerosene is now competing with BTC

mrvitalis:

The state Buhari left Nigeria has little or nothing to do with where we are today

Yes it was bad but not this bad

Removing of fuel subsidy, floating naira without having backing brought us here

Buhari is a failure yes but at least he was careful
Tinubu and his team are even more ignorant than Buhari team and are too carefree

Economy no be by gra gra... You tackle is slowly

None, zero of tinubu policy has worked all backfired leaving us far worse where we started

Removing subsidy was not the thing..even if we had allowed subsidy..it would have forcefully removed itself before December because there will be no more money to pay for it!!!!!!..
Can’t you see the damage we are in?!.
Forward contracts had not been settled since February 2023!!!…
I swear I just dy pity Tinubu because baba go dy cry now!!..
If I was him I will voluntary resign as president oooo..because this mess is too much

mrvitalis:

The state Buhari left Nigeria has little or nothing to do with where we are today

Yes it was bad but not this bad

Removing of fuel subsidy, floating naira without having backing brought us here

Buhari is a failure yes but at least he was careful
Tinubu and his team are even more ignorant than Buhari team and are too carefree

Economy no be by gra gra... You tackle is slowly

None, zero of tinubu policy has worked all backfired leaving us far worse where we started

Obi would have used sense

I just dey laff Tinubucally

Yankee101:
Imagine price of oil is higher and there is still dollar scarcity
The stealing that has occurred in tinubu’s first 100 days is mind boggling

The thing boggles my mind o. Nigeria defies rational economic thinking...

Willie2015:


Nigeria is broke...
And yet we can afford to pay politicians big monies...
Senators Constituency Allowance.... State Monthly Security Allowance..etc
Fleet of cars...Happiness Allowance.... etc
are still being paid as at when due.....
We aint broke yet....
FG just want to tax the poor to feed the Elites...

That money is small compare to what is needed to run the economy. I agree make all of them de collect small money.

Winning123:
Floating of Naira is not the issue. The issue is that we were not selling enough oil to earn dollars due to stealing in the Niger Delta for many months. At some point we were only producing 800 thousand barrel per day instead of 1.7m barrel per day. All the useless Obi people don't know anything. Obi is lucky he did not win. This is not the best of time to be president of Nigeria. However I know we will pull through

So, who is to blame for the oil theft? Wasn't Buhari the previous president? Wasn't he supposed to tackle insecurity in the oil rich regions? Buhari knew oil vandalism was ongoing and did nothing! Peter Obi wasn't a member of the APC or Buhari's administration. So, why blame Obi and his supporters? Why is it difficult for you Agbadorians to blame Tinubu, Buhari and APC? Is it the responsibility of LP to protect oil pipelines?

RepoMan007:
and it was under emefiele the foreign industries rejected letters of credit abi? Daft party agent.
Emefiele helped the daura lanky general secure loans to inspire turnaround but he built village infrastructures all over katsina and shared the rest. Is that emefiele's fault. The anchor borrowers scheme emefiele was involved in was a resounding success even the world bank and IMF will be envious of. Face those who are there and blame them accordingly, useless partisan schemer

like I said before I don't av time for political jobbers.. My main focus is the economy.. Shalom... Be cool with ur display of ignorance online for politicians.. I don't play on that league.

ufotunang:
....the solution is for nigeria to be a producing economy...an industrialized country where we produce to export inorder to earn, generate dollars, foreign currencies as revenue to the country...more of exportation and less of importation.... and also nigerians and politicians should reduce the way they travel to abroad for medical treatment and attending schools, foreign universities abroad.. for this increases the demand for dollars, pounds to do all this things and put pressure on the dollrs which makes the naira to be weak and lose value... nigerians and politicians should value what they have in nigeria and patronize nigeria hospital for medical treatment and patronize nigeria universities..I know it will be difficult for them to do that..but this is the solution to solve the scarcity of forex in nigeria and make the naira to have value inorder to make the economy to be good and better

we are not the only mono economy in the world.. Let's ask why others who are also not producing and are mini economy not having same issues we are having, What is Angola producing more than Oil.. Is their money tumbling? What is Brunei producing? Am not in d mood of listing out countries now maybe when settled from work.. But point is it's not just production, local production that is our problem.. The sole problem is having two market for one commodity in one economy. It doesn't work.. It has never worked period.. It's doomed to fail.. Close official market.. Let's everyone trade on the parallel market simple or else... Naira go still hit 10k per dollar before mid next year..

BaddestQueen:
hell hole

omenka Corrinthians is supporting Tinubu because he hates igbos

Why is ex-governor Umahi supporting Tinubu. Because he hates himself, his family and his relatives?

EleventhWeirdo:


Lol the smartest in your cave region would be average in SW in general and Lagos in particular.

You mean average in consumption of rotten gbegiri and slimy ewedu with dilapidated brown roofs full of rice bandits and active skull miners, tufia, spits

Because it doesn't guarantee prompt payment any more

IT IS FINISHED!! BYE BYE NIGERIA[sub][/sub]

Cantonese:
“My team and I”.

“El Rufai will answer that question”.
“Fashola will answer that question”.

Now we all see how they failed woefully. I have also noticed that APC stopped accusing PDP of damaging the economy in 16 years.

More Nigerians are going into starvation. Terrible policies and unguarded statements further deepen the poverty crisis in the country.

Your teams who are bunch of criminals! How will they save the economy. People that are looking for their pockets

Eriokanmi:
We're still experimenting. We're not there yet. But definitely sooner than later, we will. All these factors would be catalyst in choosing right in near future

You said sooner

PARADIZEPRIEST:
UNA DONE DEY FOLLOW DOLLAR ENTER PSYCHIATRY ALREADY.
WHAT ARE WE NIGERIANS IMPORTING THAT NIGERIA NO GET APART FROM PROPER REFINERY FOR OUR CRUDE OIL?
WHAT DO NEEED DOLLAR FOR? TO BUY AKPU OR OKRA,OR EWEDU OR SLIPPERS OR CHEWING STICK?

CHINA IS MAKING EVERYTHING FROM USA,CHINA IS DUMPING DOLLARS ALREADY,
MAKE UNA GO CHINA AND USE YUAN BUY THE MONKWY THINGS UNA DEY BUY,SKELEWU BRAINS

masseratti:
we are not the only mono economy in the world.. Let's ask why others who are also not producing and are mini economy not having same issues we are having, What is Angola producing more than Oil.. Is their money tumbling? What is Brunei producing? Am not in d mood of listing out countries now maybe when settled from work.. But point is it's not just production, local production that is our problem.. The sole problem is having two market for one commodity in one economy. It doesn't work.. It has never worked period.. It's doomed to fail.. Close official market.. Let's everyone trade on the parallel market simple or else... Naira go still hit 10k per dollar before mid next year..

... Angola produce oil and refine their crude oil locally through their refinery into fuel, disel, and other petroleum products.....in Angola their refineries are working...so they refine their crude oil into fuel, disel and other petroleum products export this fuel , disel , and other petroleum products to other countries for sell to earn dollars, foreign currencies as revenue for their country...so that is why their money is strong and not tumbling....but in nigeria here our refineries are not working...we imporrt fuel, disel, kersone into nigeria and Nigeria is using dollars to import this fuel disel kersone...that is why dollars is scarce because the demand for dollars is high which is needed to import fuel, disel, kerosene and import other consumables goods, products for consumption..as nigeria is a consuming country...if our refineries are working .. like the Angola refineries are working...we will refine the crude oil into fuel, diisel, kerosene and export it to sell to other countries inorder to earn dollars, foreign currencies as revenue for nigeria....and dollars, forex will not be scarce in nigeria

UNA DONE DEY FOLLOW DOLLAR ENTER PSYCHIATRY ALREADY.
WHAT ARE WE NIGERIANS IMPORTING THAT NIGERIA NO GET APART FROM PROPER REFINERY FOR OUR CRUDE OIL?
WHAT DO WE NEEED DOLLAR FOR? TO BUY AKPU OR OKRA,OR EWEDU OR SLIPPERS OR CHEWING STICK?

CHINA IS MAKING EVERYTHING FOR USA MARKET,CHINA IS DUMPING DOLLARS ALREADY TO USE BRICS CURRENCY
MAKE UNA GO CHINA AND USE YUAN TO BUY YOUR MONKEY TAIL DRINKS AND MUMU THINGS UNA DEY BUY WITH UNA SKELEWU BRAINS

GHANA HAS BEEN FIGHTING BANKRUPTCY SINCE JANUARY AND NO GHANIAN SOLD OUT GHANA.
THE PROBLEM WITH NAIJA YOUTHS IS THAT THEY DONT LISTEN TO WORLDNEWS,SO THEY THINK THEY ARE THE ONLY ONE SUFFERING IN AFRICA.
NIGERIA IS ACTUALLY A LAND OF MILK AND HONEY,IF YOU GET YOU GO DRINK GARRI AND GROUNDNUT TILL D PAY COME Nigerian people will be alot better if they share to care and show love to those wey no get.

masseratti:
Shut down the official I & Ẹ window they won't hear... The naira is not floating freely if there is still an official window, ppl will take advantage of it and the Naira will fall further. Now we don't have foreign reserve to block the fall, now our CBN first time in history is falling to meet it's obligation, if you know what this means in economics terms, abeg if you get money to buy good for 6months and keep non perishable foods Pls do. If they don't manage the issue well.. We will definitely be another Greece, Zimbabwe or Argentina.
Scrap the official rate let everyone buy and sell at the autonomous /parallel /aboki rate.. That's the only way we can reset the economy. No other magic under the sum can help us now.. Emeifile really messed things up I swear.

The CBN governor and deputies were confirmed today so let's see how they can change things.

I think the FG and CBN should embrace electronic banking system.