President Bola Tinubu’s economic policy scrapping fuel subsidy and collapsing multiple foreign exchange windows into the single Importer and Exporter, or I&E window, drastically depreciated the naira’s value by 98 per cent, a report by the Price Water Coopers (PwC) stated.


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The top global business advisory audit firm said in its report titled ‘Nigeria’s Economic Outlook: Seven Trends That Will Shape Nigerian Economy in 2024’ released last Wednesday that Mr Tinubu implemented policies that had the domino effect of devaluing the naira by nearly 100 per cent but appealed to foreign investors as the move was projected to improve the economy in 2024.

“Removal of fuel subsidy (which cost $10 billion in 2022), and the collapse of multiple FX windows into a single I&E window, which caused naira to depreciate by 98 per cent between May and December 2023, among other monetary policy efforts, were key programmes executed to spur growth and regain investors’ confidence,” it said.


Mr Tinubu, in his inaugural speech on May 29, 2023, announced there were no provisions covering fuel subsidy in the 2023 budget and further adopted the free float, collapsing various forex windows into the I&E to allow the market forces to dictate the price of forex.

Although eliminating subsidies without an immediate corresponding palliative plan threw citizens into untold hardship and raised prices of products and services by 100 per cent, PwC maintains the decision was necessary to appeal to investors and curb oil bunkering.

“The planned fiscal and monetary policy reforms in 2024 are expected to stimulate economic growth, reduce inflation and address the FX challenges in 2024 to drive investment,” the PwC report predicted.

https://gazettengr.com/tinubus-monetary-policy-devalued-naira-by-98-per-cent-pwc/

What do you expect from a "first class accountant" who does not know the value and importance of statistics in governance?

These are the consequences of grab it and run with it.
The mandate is cursed.
The land is desecrated.
The Economy is grounded

Tinubu will handle the economy, while Shettima will handle security.

Tinubu with a less than double digit IQ is overseeing the destiny of over 230 million Nigerians.

The suffering has just started, the dunce is only clever when it involves anything drugs.

Tinubu, with his patch patch CV, CBN governor, has only succeeded in wrecking the economy.

With this, he has officially become the worst president to have ever governed this country.

Lol

Balablu try oh.

98/100.

First-class material, 98 yards pere.

NNPCL will remit at least $10 billion that would have been spent on importing petrol, diesel, jet fuel etc

Paraman:
Some obi supporters are already wailing base on the headline alone.

The naira will strengthen against the dollar and inflation will start falling soon before the third quarter of this year

Anyone who demands accountability and good governance is either Obidient or IPOB to you.


Shame

ogododo:


“The planned fiscal and monetary policy reforms in 2024 are expected to stimulate economic growth, reduce inflation and address the FX challenges in 2024 to drive investment,” the PwC report predicted.

https://gazettengr.com/tinubus-monetary-policy-devalued-naira-by-98-per-cent-pwc/

Some obi supporters are already wailing base on the headline alone.

The naira will strengthen against the dollar and inflation will start falling soon before the third quarter of this year

Paraman:
Some obi supporters are already wailing base on the headline

Still licking the ass of the cocaine dispenser?

JasonScoolari:
Anyone who demands accountability and good governance is either Obidient or IPOB to you.


Shame

Who among you wailers on this thread write any meaningful comment? Even the PWC predict the fiscal and monetary policy reforms in 2024 are expected to stimulate economic growth, reduce inflation and address the FX challenges in 2024 to drive investment,”. But you clowns are busy writing shitty comments.

There's no difference between an obidient and ipob members.

Paraman:
Who among you wailers on this thread write any meaningful comment? Even the PWC predict the fiscal and monetary policy reforms in 2024 are expected to stimulate economic growth, reduce inflation and address the FX challenges in 2024 to drive investment,”. But you clowns are busy writing shitty comments.

There's no difference between an obidient and ipob members.

If that will make you stop crying, it's okay by me.

JasonScoolari:
If that will make you stop crying, it's okay by me.

I'm not crying bro, I can't cry because of your shallow comment. If you notice sef, I didn't quote your comment cause of how dumb it is.

Paraman:
I'm not crying bro, I can't cry because of your shallow comment. If you notice sef, I didn't quote your comment cause of how dumb it is.

But you actually crying as you type this.

Ebèzina, Ooh

JasonScoolari:
But you actually crying as you type this.

Ebèzina, Ooh

k

Paraman:
NNPCL will remit at least $10 billion that would have been spent on importing petrol, diesel, jet fuel etc

And you would still buy fuel 650 ?

mrvitalis:

And you would still buy fuel 650 ?

I don't mind so far we are not importing the petrol

Paraman:
I don't mind so far we are not importing the petrol

If NNPC stop buying and selling petrol at a lost

Petrol price would be ( Diesel price -#70)

That's over 1200

Lagoon developer fumbling & failing upandan with his Audio first class in Accountancy..

Thief'nubu is a Fan of dundee United failure incorporated..

Clueless cocain sniffer

He think say Nigeria na Lagos, shiit heavy am for nyash 😂😂

When we clamored to have him present his ideas and plans to Nigerians in an open debate, agbado people called us names, first class accountant indeed 🤧🤧

No singke policy if his has brought any respite, instead from worse to “God Abeg😭🙏”

Pls tell us any positive impact of tinubus administration on lives of nigerians

The call it sophistry.

Nlfpmod.

Tinubu is a monumental failure

DMerciful:
Tinubu is a monumental failure

No be lie.

RepoMan007:
The call it sophistry.

Sophisticated sophistry indeed

I hope salaries will be increased by 100%
Tinubu has failed on arrival
They steal unfollowed and you salaries are still in naira with no increase, fight for your rights

Na 120%.

When IMF and World Bank gives you a measure, trust me, the measure is to make life a living hell for the people.

As dull as Buhari was, he did not fall for it.

Tinubu was just too desperate to yield to the bidding of the west.