Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,411 members, 7,815,919 topics. Date: Thursday, 02 May 2024 at 09:00 PM

Why Naira Is In Free Fall – Olusegun Aganga - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Why Naira Is In Free Fall – Olusegun Aganga (28907 Views)

Alex Otti Laments Naira Free Fall, Says FG Printed Too Much Money / No Light @ Alh. Haruna, Itaji, Williams Aganga Streets, Since Sept., 23rd, 2019 / FFK Questions Why Naira And Army Coat Of Arms Have Arabic Inscriptions On Them (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: Why Naira Is In Free Fall – Olusegun Aganga by Mandate1: 10:19am On Oct 21, 2023
ElSudani:


You are right. Now we have a government who recognizes the problem and is working hard to fix them.
The reforms are by no means easy and comes with some initial pains but it will eventually put Nigeria on the right track.
what reforms is he implementing for heaven's sake? Is it by removing subsiding in every facet and increasing cost of production the solution. These measures will only kill businesses the more, as their ability to produce will nosedive.

I'm a big fan of subsidy as no nation in the world can shy away from it completely. What your Tinubu needs to do is to take fuel price back to whr it was, and encourage Dangote to speed up his refinery. Once we start refining our fuel, we will have enough dollar from external crude sale to meet our demand.

Despite the billions Tinubu is claiming to save from subsidy removal, why is he borrowing again?
Re: Why Naira Is In Free Fall – Olusegun Aganga by IamANigerianMan: 10:19am On Oct 21, 2023
treesun:


https://punchng.com/why-naira-is-in-free-fall-ex-minister-aganga/

Not truth, the rich are the one destroying Nigeria.. they are buying dollar and keep
Re: Why Naira Is In Free Fall – Olusegun Aganga by Wizuman: 10:19am On Oct 21, 2023
kenny714433:


Keep the production aspect aside, let's discuss the point I raised earlier. Ask yourself, why are the industries not working despite all the money being sunk into them...

As a successful business owner, won't it be to look at the statistics available and make useful comparison to arrive at a reasonable conclusion? When PO was busy spitting fact and quoting data, didn't your Asiwaju ask Na statistics we go chop?

The very reason he came back and did exactly the same thing that others did and he's expecting a different result.

Look at PO records, corruption and government wastefulness would have significantly reduced.

If corruption is drastically reduced, don't you think all these government industries will start functioning?

U have shifted ur goalpost, from Production to fighting corruption. The point is that everyone knows d solution is PRODUCTION, and Tinubu has a better CV with that
Re: Why Naira Is In Free Fall – Olusegun Aganga by seunjungle1(m): 10:20am On Oct 21, 2023
Been bigotry will never allow you to reason well. If Peter is our President presently Nigeria would have gone beyond repair...if those powerful corrupt politicians can be frustrating Jagaban government, who is peter obi to them?

What you also forgot is the failure way in which Peter ruled Anambra throughout is 7years plus as governor of the state...during his tenure Anambra was ranked as one of the poorest state in Nigeria.... Nairaland still have the news in its cache on how Peter obi was cursed due to his poor ruling.

Now, you want somebody that cannot rule one of the least population states in nigeria well to come rule Nigeria?





kenny714433:
That's not even the problem. Imagine sinking all the money into failed industries that have large holes punctured by corruption.

Didn't Buhari swear to complete Ajekuta steel and Refineries? Wasn't millions sunk into the failed project?

Is Tinubu doing anything different?

When we complained about endemic corruption you called us Ipob. Now, they will give me a state in SE because I don't support the inept Tinubu.

Hate him or not, PO would have drastically reduced corruption in most sector of this country.
Re: Why Naira Is In Free Fall – Olusegun Aganga by VeeVeeMyLuv(m): 10:20am On Oct 21, 2023
Ventura1:
You mean solely on import?
Our country men no dey hear word!
They are still asking

Yes mostly on import, even their food and drink!

Because they play intensely and extensive

But Nigeria don't plan at all very reckless and wasteful

Recklessness and wastefulness is now an ingrained malaise that runs deep to the marrow
Re: Why Naira Is In Free Fall – Olusegun Aganga by Bluntemperor: 10:22am On Oct 21, 2023
PDPdestroyer:

Can you mention how he was able to do this as Anambra State governor?

Don't mind him and you need to ask, which Obi he is talking about?
Obi that is fond of feigning so many things!
Anyway I don't discuss on him again, until he tells us,how he got a Pass both in English and Mathematics,yet entered the University, to read Philosophy! I'm not understanding o!

1 Like

Re: Why Naira Is In Free Fall – Olusegun Aganga by Wizuman: 10:23am On Oct 21, 2023
successmatters:


Hate will not kill you my brother.

Just bite him facts he's asking for. There's no hate anywhere in his statement
Re: Why Naira Is In Free Fall – Olusegun Aganga by Svoboda(m): 10:24am On Oct 21, 2023
tuborme:
It is called production… Peter Obi gave you the solution but you won’t hear!


Obi himself should first of all halt all import related businesses of his. He is part of the problem, so how can he believe in his own solution?

Thats my problem with his hypocrisy.
Re: Why Naira Is In Free Fall – Olusegun Aganga by Slymontee: 10:27am On Oct 21, 2023
treesun:


https://punchng.com/why-naira-is-in-free-fall-ex-minister-aganga/
Do you know how much of USD you spend to buy SUVs for over 400 corrupt people in national assembly? That's what Bola did! Why won't naira be in a free fall?
Re: Why Naira Is In Free Fall – Olusegun Aganga by Emperor5(m): 10:28am On Oct 21, 2023
They knew all this things and promise they will fix Nigeria now they got into power and run out of ideas then start the flimsy excuses and blaming of past administration.
Before 2015 Nigeria and China was the fastest growing economy in the world even as Nigeria is import dependency. Many countries import and they are still doing well.
They need to come up with good economic policy, plan not trial and error.
They removed fuel subsidy without putting refinery in function not considering the inflation it will bring in other variable. Now where is the profit made from the subsidy removal.
Re: Why Naira Is In Free Fall – Olusegun Aganga by Abagworo(m): 10:31am On Oct 21, 2023
If Nigeria want to industrialize for real then FG should invest in Aba, Nnewi, Onitsha and Port Harcourt. The biggest industrial potential of Nigeria lies in the upper Niger Delta plains around Aba , Port Harcourt and Akwaibom of which the Aba people are already blessed with the natural talent to harness the opportunity but frustrated by FG policies and deliberate neglect of public infrastructure. Produce in Aba then export via Port Harcourt seaport less than 40km distance.

Re: Why Naira Is In Free Fall – Olusegun Aganga by correctguy101(m): 10:31am On Oct 21, 2023
It's the same problem with this people.

Now, the wereys in the current govt will glare at him and say' "When you were the finance minister, why didn't you do all these?" undecided


And the main points to be considered will be ignored

And the circle will continue... smh.

2 Likes

Re: Why Naira Is In Free Fall – Olusegun Aganga by chi4ik4(m): 10:34am On Oct 21, 2023
Lies, Naira devaluation by the Federal Government is the problem.
Re: Why Naira Is In Free Fall – Olusegun Aganga by reddingtonblack: 10:34am On Oct 21, 2023
tuborme:
It is called production… Peter Obi gave you the solution but you won’t hear!



MuMu, are you aware Peter Obi is one of the major importers of finished goods and he has no manufacturing/production line on his streams of business
Re: Why Naira Is In Free Fall – Olusegun Aganga by Treadway: 10:40am On Oct 21, 2023
Ijaya123:


Mention just one production company owned by Peter Obi
mention one owned by Thubv ....infact mention any business he owns at all, aside the alphabeta conduit he is using to siphon state funds and termed it consultancy fee.
Re: Why Naira Is In Free Fall – Olusegun Aganga by Faposky95: 10:42am On Oct 21, 2023
kenny714433:
That's not even the problem. Imagine sinking all the money into failed industries that have large holes punctured by corruption.

Didn't Buhari swear to complete Ajekuta steel and Refineries? Wasn't millions sunk into the failed project?

Is Tinubu doing anything different?

When we complained about endemic corruption you called us Ipob. Now, they will give me a state in SE because I don't support the inept Tinubu.

Hate him or not, PO would have drastically reduced corruption in most sector of this country.

He would have been strategic in winning the support to move the country in another trajectory.....
Curbing corruption is like saying you'll operate on yourself.......!!!
The Cabals are so powerful that he'll be sucked in.
However, he would have given a space for small and medium industry to strive. Also, a consciousness that Nigerians are yearning for which would not be based on tribalism.
Lastly, he would not be able to take his voters for granted cos he would be booted out without recourse in a mere 4 years.
BATman simple basis..... EMI lo kan
Re: Why Naira Is In Free Fall – Olusegun Aganga by Treadway: 10:45am On Oct 21, 2023
newwise1:

Bro na only u way get sense for the country, the government keep shifting blames to the citizens by you people only import, you don't export mean while no electricity, when dollar was around 280 during Johnathan what were we exporting then we are not exporting, and what are we importing now we were not importing.
we were even importing a lot more then cos money was flowing. I myself started a businesss buying items from Amazon and AliExpress and reselling here, and was spending cumulatively more than 10000 USD a year using my Nigerian debit card... what's even more painful was spending that money wasn't a big deal for me at the time, twas small money, that was just around 1.5m....shey it is the $20 monthly card allowance that has been the case for over 2 years na im Nigerians dey use import. I was importing cars till 2021 when I stopped cos it made no sense to do so anymore due to the landing cost...nobody tell me before I switch to grade A Nigerian used. Let the morons keep capping rubbish and deceiving themselves.

Also dollar was never that high during Jonathan time. It was btw 140-150 for many years..it was only close to the elections that it increased to the 190-200 range, and I'm now pretty sure the APC had something to do with that.

5 Likes

Re: Why Naira Is In Free Fall – Olusegun Aganga by deavicky(m): 10:45am On Oct 21, 2023
treesun:


https://punchng.com/why-naira-is-in-free-fall-ex-minister-aganga/
I don't want to agree with this people economic theories anymore. What have we been exporting when dollar was #200 and why did we stop it. The truth is that the more borrow money the more our currency drops
Re: Why Naira Is In Free Fall – Olusegun Aganga by ifeco4(m): 10:47am On Oct 21, 2023
[quote author=Okoroawusa post=126513905]
Where has he done it before? With what pedigree? This is not about emotional or reverential support.
An importer can't be telling me that he wants to move to production and I will not ask him what he has produced before... think am nah![/quote

The major problem of Nigeria is corruption and Peter Obi drastically reduced corruption in Anambra state when he was governor.
He did it in Health
He did it in Education
He did it in almost all the sectors of the state economy.
He can still do it in Nigeria.
Re: Why Naira Is In Free Fall – Olusegun Aganga by newnigerdelta00: 10:49am On Oct 21, 2023
kenny714433:
That's not even the problem. Imagine sinking all the money into failed industries that have large holes punctured by corruption.

Didn't Buhari swear to complete Ajekuta steel and Refineries? Wasn't millions sunk into the failed project?

Is Tinubu doing anything different?

When we complained about endemic corruption you called us Ipob. Now, they will give me a state in SE because I don't support the inept Tinubu.

Hate him or not, PO would have drastically reduced corruption in most sector of this country.







. liars....why he nor commot corruption for Anambra state
Re: Why Naira Is In Free Fall – Olusegun Aganga by Teenaira: 10:52am On Oct 21, 2023
tuborme:
It is called production… Peter Obi gave you the solution but you won’t hear!

Apart from importation, what has Peter Obi ever produced ? How will somebody who has never produced anything teach people how to produce ?
Re: Why Naira Is In Free Fall – Olusegun Aganga by Treadway: 10:56am On Oct 21, 2023
One-sided Lies as usual
seunjungle1:
Been bigotry will never allow you to reason well. If Peter is our President presently Nigeria would have gone beyond repair...if those powerful corrupt politicians can be frustrating Jagaban government, who is peter obi to them?

What you also forgot is the failure way in which Peter ruled Anambra throughout is 7years plus as governor of the state...during his tenure Anambra was ranked as one of the poorest state in Nigeria.... Nairaland still have the news in its cache on how Peter obi was cursed due to his poor ruling.

Now, you want somebody that cannot rule one of the least population states in nigeria well to come rule Nigeria?





really? and all the northern states, a good number of the eastern states all had far worse rankings... and only one or two SW states aside Lagos had better rankings? Even Edo ruled by Adams Oshi-omo-ole had far worse rankings in the same report that your camp shared. I have it here. Edo for example had a poverty rate of 72.5%! But of course you not talking about that.

Re: Why Naira Is In Free Fall – Olusegun Aganga by AfonjaConehead: 10:58am On Oct 21, 2023
Duro4chang is an Agangaic bomboclat grin

1 Like 1 Share

Re: Why Naira Is In Free Fall – Olusegun Aganga by Sportsolutions2(m): 11:02am On Oct 21, 2023
An Advice Coming From "A Former Finance MInister!




What Did He Do When He Was There in Position ?



Incompetent Thieves!
Re: Why Naira Is In Free Fall – Olusegun Aganga by sonofthunder: 11:03am On Oct 21, 2023
tuborme:
It is called production… Peter Obi gave you the solution but you won’t hear!


Hmmm....... So what do you think Peter Obi would have produced (maybe even for export ) between May 29th and today?
Re: Why Naira Is In Free Fall – Olusegun Aganga by IyaTola: 11:04am On Oct 21, 2023
seunmsg:
We don’t have the forex to defend the Naira quite alright but Nigerians are not helping matters. We have a dollar shortage crisis and Nigerians are busy stockpiling dollars at any amount simply for speculative reasons. What is going on is really scary.

We may hit 2k for a dollar before the end of the year with the way things are going. CBN needs to go back to the crude method adopted by Emefiele. Whatever it is they are doing with the PH and Dangote refineries, they should please hurry it up and start production. There will be a huge rally for the Naira once we stop importation of petroleum products. These are the short term measures to stop the free fall. Manufacturing what we need in Nigeria and for export is a long term solution.
We must get sense by force, I want it to hit 10k to $1

1 Like

Re: Why Naira Is In Free Fall – Olusegun Aganga by TLE900: 11:06am On Oct 21, 2023
Commodification of cassava
treesun:


https://punchng.com/why-naira-is-in-free-fall-ex-minister-aganga/
Re: Why Naira Is In Free Fall – Olusegun Aganga by Mbanda(m): 11:10am On Oct 21, 2023
joinnow:

All eyes on Oil

Re: Why Naira Is In Free Fall – Olusegun Aganga by MichaelSokoto(m): 11:12am On Oct 21, 2023
Okoroawusa:

Where has he done it before? With what pedigree? This is not about emotional or reverential support.
An importer can't be telling me that he wants to move to production and I will not ask him what he has produced before... think am nah!
Pls we luv Tilumbu, he is doing well!
cool
Re: Why Naira Is In Free Fall – Olusegun Aganga by KpukpuyekePikin(f): 11:12am On Oct 21, 2023
seunmsg:
We don’t have the forex to defend the Naira quite alright but Nigerians are not helping matters. We have a dollar shortage crisis and Nigerians are busy stockpiling dollars at any amount simply for speculative reasons. What is going on is really scary.

We may hit 2k for a dollar before the end of the year with the way things are going. CBN needs to go back to the crude method adopted by Emefiele. Whatever it is they are doing with the PH and Dangote refineries, they should please hurry it up and start production. There will be a huge rally for the Naira once we stop importation of petroleum products. These are the short term measures to stop the free fall. Manufacturing what we need in Nigeria and for export is a long term solution.

Keep kwayet!!! You know nothing. Agbado analysis

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

6-year-old Girl Killed By Airbag In An Auto Accident In Asaba / President Buhari Presides Over The Armed Forces Council Meeting(photos) / Obasanjo: It’s An Insult To Question Buhari’s Credentials

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 59
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.