Buhari managed to somehow suspend naira at around 700/1 for a very long time and we were even complaining.

Now Tinubu we thought was the messiah seems to have completely lost all atom of clue how Buhari and Emefiele were able to manage the already crashing naira value.

I see people blaming everything on APC because of Tinubu but we should be able to call a spade a spade, Buhari really tried. He appeared concerned about the crashing naira.

Imagine within 5 months of Tinubu, naira is now over N1100

If this continues this way, serious wahala dey o my people. Naira might hit 1500 before Christmas

kk2027:
Buhari managed to somehow suspend naira at around 700/1 for a very long time and we were even complaining.

Now Tinubu we thought was the messiah seems to have completely lost all atom of clue how Buhari and Emefiele were able to manage the already crashing naira value.

I see people blaming everything on APC because of Tinubu but we should be able to call a spade a spade, Buhari really tried. He appeared concerned about the crashing naira.

Imagine within 5 months of Tinubu, naira is now over N1100

Serious wahala dey o my people

You really don't want to know how Buhari and Emefiele were managing the crashing naira value.

Most of the time, it was by BORROWING. . Now we are reaping the borrowing effect.

Does not make Tinubu better though. He helped bring Buhari.


You want a strong naira on the back of an economy that exports one thing and one thing alone? Tell me another story.

Which legacy. How can you destroy what does not exist

nairalanda1:



You really don't want to know how Buhari and Emefiele were managing the crashing naira value.

Most of the time, it was by BORROWING. . Now we are reaping the borrowing effect.

Does not make Tinubu better though. He helped bring Buhari.


You want a strong naira on the back of an economy that exports one thing and one thing alone? Tell me another story.

Tinubu is also borrowing and at the same time, naira is on a free fall. That's the most scary part of it
That's double jeopardy

kk2027:


Tinubu is also borrowing while naira is on a free fall.

That's double jeopardy

Yes, because Nigerian economy is reliant on JUST OIL...and when the oil price crashes, we borrow to stay up, and when it rises, we pay off our loans, and then borrow more to replace the revenue iused to pay off the loans we borrowed

Every Nigerian leader has done it. That is why since I was born, our economy has always been in crisis.

Want to be free of the crisis? It involves hard choices that if I mention it here, people will abuse me, so make them enjoy APCPDP. Power for change!

Tinubu or is it Thivbu is borrowing because the alternatives are total removal of subsidy, and fuel selling above N1200 and extreme tax measures, and removal of subsidy on power, with the DISCOS setting price, and massive floating of the naira, so much so that naira reaches N2000 per dollar...but he wants to do partial, and partial because the full thing means...HARDSHIP

Every Nigerian leader has known the above...but they all wanted to be elected....

Buhari warned you guys that you'll miss him when he leaves
He must have known that Tinubu has nothing to offer

Buhari will be a saint where Tinubu is. At least Buhari's economy destruction was a process and took some time to grow but Tinubu's own is just a bomb. Wthin 5months, he has successfully rendered the economy useless

If truly Buhari has a legacy to be guarded and guided then, we have with us the worst president ever in our history.

I dey laugh una.

Buahri has no educational background...he became a general by a quota system...that is according to Elrufai.
That is Buhari was the only general in Nigeria history without military insignia.

For Emilokan,we are sure his academic qualifications are at variance with expectations in the society. Therefore,these two figure heads can't and would never better the economy.

It takes a man or woman of education to address the economy and not these two conk heads.

Finally,the only achievement expected of this new president is to take Nigeria back to where Buhari left us because everything has dabaru.

kk2027:
Buhari warned you guys that you'll miss him when he leaves
He must have known that Tinubu has nothing to offer

So you people miss Nigerian leaders?

I don't miss any one of them, including this admin.

Sane decisions, dem no wan take.

Someone that can go to business center to print certificate is who you're expecting to turn your life around


I dey laugh

From an Almajiri and herdsman to a head of ageberos and fraudster and you are surprised that things are like this in Naija . Thunder fire all those useless people who voted for APC

Forget buhari's (il)legacies. The economy is what is at stake and at the verge of collapse here.

nedu666:
Which legacy. How can you destroy what does not exist

Tinubu is performing so woefully that Buhari's failures are now seen as "Legacy". What a time to be alive! If to say this man no win, they would've said that he was the messiah. Thank God he won, and now we're all witnessing his failure first hand.

kk2027:
Buhari managed to somehow suspend naira at around 700/1 for a very long time and we were even complaining.

Now Tinubu we thought was the messiah seems to have completely lost all atom of clue how Buhari and Emefiele were able to manage the already crashing naira value.

I see people blaming everything on APC because of Tinubu but we should be able to call a spade a spade, Buhari really tried. He appeared concerned about the crashing naira.

Imagine within 5 months of Tinubu, naira is now over N1100

If this continues this way, serious wahala dey o my people. Naira might hit 1500 before Christmas

you are the one that thought that he's the Messiah not us. The signs were there for all to see that he has no plan.

The term "defending the Naira" was often used to mask the subsidy of the forex. That time you referenced about Naira going for around N700 a dollar, it was being subsidized at around N460 in official window and so there was an artificial pull of the black market rates towards the official market.
If at N460 black market was around N780, at N780 official rate, I estimate around N1300-N1350 in black market.

As the rates rises in black market, prices of import will go up and discourage demand against constant supply. That should reduce the pressure on dollar generally. Also, as Dangote refinery begins to run, huge demand for dollar(forex) created by need to import will disappear. That should bring it back to below N1000/a dollar.

Nice2023:
If truly Buhari has a legacy to be guarded and guided then, we have with us the worst president ever in our history.

I dey laugh una.

Buahri has no educational background...he became a general by a quota system...that is according to Elrufai.
That is Buhari was the only general in Nigeria history without military insignia.

For Emilokan,we are sure his academic qualifications are at variance with expectations in the society. Therefore,these two figure heads can't and would never better the economy.

It takes a man or woman of education to address the economy and not these two conk heads.

Finally,the only achievement expected of this new president is to take Nigeria back to where Buhari left us because everything has dabaru

Posterity will be kind to Mr Macaroni
What he saw sitting down, na now our eye clear

Funny enough, e no go affect macaroni

Guy is earning in dollars, cashing out daily

Just the way Tinubu spoilt that of GEJ🤔. I Never expected Tinubu to do well on a stolen mandate.

CodeTemplar:
The term "defending the Naira" was often used to mask the subsidy of the forex. That time you referenced about Naira going for around N700 a dollar, it was being subsidized at around N460 in official window and so there was an artificial pull of the black market rates towards the official market.
If at N460 black market was around N780, at N780 official rate, I estimate around N1300-N1350.

As the rates rises in black market, prices of import will go up and discourage demand against constant supply. That should reduce the pressure in dollar generally. Also, as Dangote refinery begins to run, huge demand for dollar (forex) created by need to import will disappear. That should bring it back to below N1000/a dollar.

So 1 to 1000 will now become a great achievement abi?

But voted out Goodluck because of 1 to 200?

Hakeem66:
you are the one that thought that he's the Messiah not us. The signs were there for all to see that he has no plan.

They said he built Lagos and we believed them

Please forgive our ignorance

nairalanda1:


Yes, because Nigerian economy is reliant on JUST OIL...and when the oil price crashes, we borrow to stay up, and when it rises, we pay off our loans, and then borrow more to replace the revenue iused to pay off the loans we borrowed

Every Nigerian leader has done it. That is why since I was born, our economy has always been in crisis.

Want to be free of the crisis? It involves hard choices that if I mention it here, people will abuse me, so make them enjoy APCPDP. Power for change!

Tinubu or is it Thivbu is borrowing because the alternatives are total removal of subsidy, and fuel selling above N1200 and extreme tax measures, and removal of subsidy on power, with the DISCOS setting price, and massive floating of the naira, so much so that naira reaches N2000 per dollar...but he wants to do partial, and partial because the full thing means...HARDSHIP

Every Nigerian leader has known the above...but they all wanted to be elected....

That is not because we rely on oil alone.

Kuwait. Dubai,Jordan,Oman, rely on oil proceed and what they do differently is,they invest for tomorrow.

In Nigeria,we eat everything we make from oil. Go and ask Babangida,Abacha what they used the oil windfall to do.

These men aquandered the destiny of this country and now the civilian govt has started theirs too and they are the worst. Because what they accused the military for,is what they are doing without any remorse.

nairalanda1:



You really don't want to know how Buhari and Emefiele were managing the crashing naira value.

Most of the time, it was by BORROWING. . Now we are reaping the borrowing effect.

Does not make Tinubu better though. He helped bring Buhari.


You want a strong naira on the back of an economy that exports one thing and one thing alone? Tell me another story.

Buhari himself had serious issues with that one thing (oil)

Niger Niger Delta Avengers
COVID 19
World Oil crisis

kk2027:


So 1 to 1000 will now become a great achievement abi?

But voted out Goodluck because of 1 to 200?

Goodluck met it at N100 to one dollar. He left it at above N200 to one dollar because of the subsidy that the person you quoted is referring to.

GEJ had high oil prices till April 2014. (from 2010). Our debt was not as much as it is now, because obasanjo got debt forgiveness, Yaradua grew our reserves to 60 bn dollars, and oil prices remained high in 2010-14.

(We had the same situation in 1973-82, that was when one naira was equal to one dollar as at 1978. High oil prices for the time, meant high revenues from oil...naira easier to defend.).

Buhari was a bad leader because he met oil falling, but instead of taking sane decisions , he decided to defend the naira as if we were still having high earnings from oil. The result...debt and a reserve of 4 billion dollars...down from 34 some years ago.

Dear OP, what are you producing to help bring in the forex or help reduce the outflow of the forex? That's the question we need to ask each of ourselves.

Asiwaju Tinubu will not use borrowed or hard earned money to defend the naira against the us dollar that unpatriotic people are speculating on to store inside their mattresses. If you join them to keep overvaluing the us dollars, you will get burnt severely las las. Check my signature for free stuffs!

kk2027:


So 1 to 1000 will now become a great achievement abi?

But voted out Goodluck because of 1 to 200?

with the PVC your great-grandfather and great-raised-to-power-100 grandmother gave me abi?

tesppidd:
Buhari himself had serious issues with that one thing (oil)

Niger Niger Delta Avengers
COVID 19
World Oil crisis

Yes, which is why Nigerian leaders have been told by EXPERTS since the 1980's that we have to DIVERSIFY OUR EARNINGS.

But no, na oil we know. All the money we lose from illegal mining for example, could have helped us a bit...but no.

FreeStuffsNG:
Dear OP, what are you producing to help bring in the forex or help reduce the outflow of the forex? That's the question we need to ask each of ourselves.

Asiwaju Tinubu will not use borrowed or hard earned money to defend the naira against the us dollar that unpatriotic people are speculating on to store inside their mattresses. If you join them to keep overvaluing the us dollars, you will get burnt las las.

He is not producing propaganda. At least his ideas are workable like that of professors of political science around earning under the FG.

Hakeem66:
you are the one that thought that he's the Messiah not us. The signs were there for all to see that he has no plan.

Won?
D more you look the less you see

Nice2023:




That is not because we rely on oil alone.

Kuwait. Dubai,Jordan,Oman, rely on oil proceed and what they do differently is,they invest for tomorrow.

Kuwait has 6 million people, Jordan has about 11 million, Oman has about 4 million, UAE has 13 million people

Nigeria has....220 million people.

Apart from corruption, where is the money we go invest for tomorrow? All the above nations produce more oil than we do.

The money we earn is not enough. At the end, we have to borrow.

And even now, oil is still 80% of government revenues (70% accroding to World Bank).

In Nigeria,we eat everything we make from oil. Go and ask Babangida,Abacha what they used the oil windfall to do.

These men aquandered the destiny of this country and now the civilian govt has started theirs too and they are the worst. Because what they accused the military for,is what they are doing without any remorse.

Yes, and we are even still recovering the Abacha loot up till now.

BUT even if we got back all the loot.....it would equal to our GDP . It might help...till the money runs out.


Nigeria has to DIVERSIFY ITS ECONOMY. Oil is not a good source of revenue for us. The price dey jump up and down.


Just to show you how broke we are...Nigeria saved 60 billion dollars in its reserve as at 2010, Saudi had 70 times that in its reserve in 2014. Saudi has 40 million and produces ten times more crude than we do. More money to save.

Nice2023:




That is not because we rely on oil alone.

Kuwait. Dubai,Jordan,Oman, rely on oil proceed and what they do differently is,they invest for tomorrow.

In Nigeria,we eat everything we make from oil. Go and ask Babangida,Abacha what they used the oil windfall to do.

These men aquandered the destiny of this country and now the civilian govt has started theirs too and they are the worst. Because what they accused the military for,is what they are doing without any remorse.

Our senate is busy sharing prayers in their email
While the masses can't afford food

kk2027:


They said he built Lagos and we believed them

Please forgive our ignorance

Don't mind his daft supporters. With the amount of money Lagos is generating from revenue, a governor who's half corrupt would have transformed Lagos to Joburg.

But in all honesty. I didn't expect Tinubu's government to be this bad