Thunder ⚡⚡⚡ Fire you there !
So make we dey wait till middle of the year by that time inflation don kieee us Finished Abi

Goodvibes007:
Serious countries of the wild float their currencies. It's madness and an abnormally that Nigeria is defending the Naira with US dollars in the first instance. Defending naira with scarce forex reserve is senseless and we have been doing that for decades. It's living a fake economic lifestyle.

South Africa, US, Australia, Canada, and many major economies of the world float their currencies.
In these countries, the rate you would convert currencies at the BDC or in a bank are almost the same.

There is no magic wand to immediately fix the naira. Government policy have both long term and short term effect.

Fix: Nigeria should gear towards an export based economy and move away from importing human hair, toothpick, ponmo and all sort of rubbish foreign product.

Indonesia and Nigeria started around the same time, in the 1970s, Indonesia floated its currency. Now it's an export based economy with almost 200 billion dollar in it's reserve.

Excellent submission.

Bobloco:


Anyone with a contrary opinion is automatically a Peter Obi disciple.

Everything is now being seen through the prisms of politics and tribal and ethnic bigotry.

Your foolery is legendary

The cock has crowed three times Peter.

Enugurangers:

So what solution do you suggest to defend the naira?

Perhaps you prefer that we keep defending the naira with Tens of Billions of US Dollars which we do not have?

Why should we borrow money from China so we can subsidize the lifestyle of a few rich Nigerians that want the US dollars?

One question bro.


Why do banks allow domiciliary accounts?
Why can't money coming into accounts of Nigerians from abroad be converted automatically to its naira value and be deposited in the recipients account?

I really wanna know.

Ibrahimcoomasie:
Our problem with debt is connected with our subsidy spending and issues with FX liquidity. The decision to liberalize the FX market is a step in the right direction, Nigeria cannot afford to defend the Naira like we have done in the past. We should see the stability of the Naira by the middle of the year.

Patience is needed as the naira find it's level.

- Sam Abu, Country Senior Partner, PwC Nigeria,


https://www.youtube.com/watch?v=wIoV6gKH1GA?si=CxbeQbD-cOsnJOiA


Is this Financial Analyst from PwC making any sense?

He spoke in a balanced way. Just like he said, there must be serious increase in our productivity if we are going to see naira gain serious value.

Goodvibes007:
Serious countries of the wild float their currencies. It's madness and an abnormally that Nigeria is defending the Naira with US dollars in the first instance. Defending naira with scarce forex reserve is senseless and we have been doing that for decades. It's living a fake economic lifestyle.

South Africa, US, Australia, Canada, and many major economies of the world float their currencies.
In these countries, the rate you would convert currencies at the BDC or in a bank are almost the same.

There is no magic wand to immediately fix the naira. Government policy have both long term and short term effect.

Fix: Nigeria should gear towards an export based economy and move away from importing human hair, toothpick, ponmo and all sort of rubbish foreign product.

Indonesia and Nigeria started around the same time, in the 1970s, Indonesia floated its currency. Now it's an export based economy with almost 200 billion dollar in it's reserve.

Apt. You have said it all

nairalanda1:


So because of one bad practice we should continue with another bad practice?

Why not stop both by diversifying our economy?

Diversify motor.. Same people in govt are using crude oil to collateralize ADB,, IMF and World Bank. So future crude oil barrels are owned by our lenders… From Naija subsidy to oyibo subsidy 🤷🏿‍♂️😂😂