DeLaRue:


You think so, but that's not the reality.

There is a pain point at which demand for many imported goods will fall fast. People will simply start buying less and less of them. Whether that pain point is at N1500, N1800, or N2000 to a dollar, I don't know.

But the CBN will have the data. They know. If N1500 doesn't stiffle imports to the level they want, I suspect the CBN will not mind seeing naira close to N2,000 to a dollar.

In some ways, it is to the credit of Mr Tinubu's administration that it is willing to follow this extremely tough path to redirect the economy from import-dependence to greater local production. For a politician facing election in just over 3 years to follow a path that may not show positive results for a few years, is truly brave.

The Nigerian economy was heading for the rocks after over 40 years of mismanagement. Tough decisions are needed to correct long term over dependence on imports.

That naira/dollar pain point is the point at which local production of certain goods starts becoming more viable than importing the same goods. This should translate to us producing more of what we need locally. This will lead to more job creation, less pressure on the naira, and a stronger, more balanced economy in the long term.

But this approach comes with a lot of economic pain initially, as the country is witnessing now.

That's the theory o.

Whether things happen in practice like I stated above is a different matter, because Nigeria's situation often defy economic theory.

PressMyButton:
Let CBN squeeze your balls, all ye import gluttons, unproductive beings. Let our naira breett.

seunmsg:
CBN is finally going for broke. It’s a game of you go low and we go lower. The convergence between official and parallel market rate will be achieved at whatever cost. Until we get to that point, the volatility will continue. So,who blinks first between CBN and speculators?

Psalmistproject:
This means that Rice price has just added 4.4%

So if you have been buying rice for 50k then add 4.4% to it. It will give you 52200.

This applies to others.

Now you can clearly see the government wants to kill everyone.

How is this supposed to help the people.

You haven't created jobs or economic facilities and atmosphere to help people build income yet you are directly contributing to more hardship.

This is wickedness from the pit of hell!

I know they did this at a time they feel Nigerians are a little bit happy and distracted by the afcon wins lately.

Nonsense!!

casualobserver:




The two of you and all you Obidients should rest. Tinubu is president not Obi who will never be president. We are dealing with realities not fantasies!

DeLaRue:


You think so, but that's not the reality.

There is a pain point at which demand for many imported goods will fall fast. People will simply start buying less and less of them. Whether that pain point is at N1500, N1800, or N2000 to a dollar, I don't know.

But the CBN will have the data. They know. If N1500 doesn't stiffle imports to the level they want, I suspect the CBN will not mind seeing naira close to N2,000 to a dollar.

In some ways, it is to the credit of Mr Tinubu's administration that it is willing to follow this extremely tough path to redirect the economy from import-dependence to greater local production. For a politician facing election in just over 3 years to follow a path that may not show positive results for a few years, is truly brave.

The Nigerian economy was heading for the rocks after over 40 years of mismanagement. Tough decisions are needed to correct long term over dependence on imports.

That naira/dollar pain point is the point at which local production of certain goods starts becoming more viable than importing the same goods. This should translate to us producing more of what we need locally. This will lead to more job creation, less pressure on the naira, and a stronger, more balanced economy in the long term.

But this approach comes with a lot of economic pain initially, as the country is witnessing now.

That's the theory o.

Whether things happen in practice like I stated above is a different matter, because Nigeria's situation often defy economic theory.

DeLaRue:


You think so, but that's not the reality.

There is a pain point at which demand for many imported goods will fall fast. People will simply start buying less and less of them. Whether that pain point is at N1500, N1800, or N2000 to a dollar, I don't know.

But the CBN will have the data. They know. If N1500 doesn't stiffle imports to the level they want, I suspect the CBN will not mind seeing naira close to N2,000 to a dollar.

In some ways, it is to the credit of Mr Tinubu's administration that it is willing to follow this extremely tough path to redirect the economy from import-dependence to greater local production. For a politician facing election in just over 3 years to follow a path that may not show positive results for a few years, is truly brave.

The Nigerian economy was heading for the rocks after over 40 years of mismanagement. Tough decisions are needed to correct long term over dependence on imports.

That naira/dollar pain point is the point at which local production of certain goods starts becoming more viable than importing the same goods. This should translate to us producing more of what we need locally. This will lead to more job creation, less pressure on the naira, and a stronger, more balanced economy in the long term.

But this approach comes with a lot of economic pain initially, as the country is witnessing now.

That's the theory o.

Whether things happen in practice like I stated above is a different matter, because Nigeria's situation often defy economic theory.

Seefinish:
It is now I know the meaning of " a town hall is different from balablue, bulaba

DeLaRue:


You think so, but that's not the reality.

There is a pain point at which demand for many imported goods will fall fast. People will simply start buying less and less of them. Whether that pain point is at N1500, N1800, or N2000 to a dollar, I don't know.

But the CBN will have the data. They know. If N1500 doesn't stiffle imports to the level they want, I suspect the CBN will not mind seeing naira close to N2,000 to a dollar.

In some ways, it is to the credit of Mr Tinubu's administration that it is willing to follow this extremely tough path to redirect the economy from import-dependence to greater local production. For a politician facing election in just over 3 years to follow a path that may not show positive results for a few years, is truly brave.

The Nigerian economy was heading for the rocks after over 40 years of mismanagement. Tough decisions are needed to correct long term over dependence on imports.

That naira/dollar pain point is the point at which local production of certain goods starts becoming more viable than importing the same goods. This should translate to us producing more of what we need locally. This will lead to more job creation, less pressure on the naira, and a stronger, more balanced economy in the long term.

But this approach comes with a lot of economic pain initially, as the country is witnessing now.

That's the theory o.

Whether things happen in practice like I stated above is a different matter, because Nigeria's situation often defy economic theory.

Seefinish:
It is now I know the meaning of " a town hall is different from balablue, bulaba

Calitoscassius:
This sounds like hocus pocus, living in kukoo land. who will produce these local products? And what local products can Naigeeria produce? The dumb government wants to force citizens to purchase local products that are not available.

IamAtikulate:

Using import duties to stimulate demand for local products is useless if have not achieved sufficiency in that local production of that commodity.

Nigeria is in mess today because ban foreign rice when we can't produce enough locally to feed us.

DeLaRue:


You think so, but that's not the reality.

There is a pain point at which demand for many imported goods will fall fast. People will simply start buying less and less of them. Whether that pain point is at N1500, N1800, or N2000 to a dollar, I don't know.

But the CBN will have the data. They know. If N1500 doesn't stiffle imports to the level they want, I suspect the CBN will not mind seeing naira close to N2,000 to a dollar.

In some ways, it is to the credit of Mr Tinubu's administration that it is willing to follow this extremely tough path to redirect the economy from import-dependence to greater local production. For a politician facing election in just over 3 years to follow a path that may not show positive results for a few years, is truly brave.

The Nigerian economy was heading for the rocks after over 40 years of mismanagement. Tough decisions are needed to correct long term over dependence on imports.

That naira/dollar pain point is the point at which local production of certain goods starts becoming more viable than importing the same goods. This should translate to us producing more of what we need locally. This will lead to more job creation, less pressure on the naira, and a stronger, more balanced economy in the long term.

But this approach comes with a lot of economic pain initially, as the country is witnessing now.

That's the theory o.

Whether things happen in practice like I stated above is a different matter, because Nigeria's situation often defy economic theory
Thank God say only you still correct yourself


The way I be wan take load you slap enh

seunmsg:
CBN is finally going for broke. It’s a game of you go low and we go lower. The convergence between official and parallel market rate will be achieved at whatever cost. Until we get to that point, the volatility will continue. So,who blinks first between CBN and speculators?

casualobserver:




The two of you and all you Obidients should rest. Tinubu is president not Obi who will never be president. We are dealing with realities not fantasies!

Dbegining:


Thank God you didn't address anything we said. Wise of you to accept you're wrong. Especially when there's proof.

Now to your statement Obi who will never be president.

The only thing I'll say is well-done God Jnr, deputy Jesus, Assistant Mohammed.

Please tell us, since you're so good at telling what will happen and what will not, when will the dollar come down to 400 like your realistic god and president said in his manifesto?


ONKR ONSR ONJR ONSSR AEMBJ

LoveLeadsLand:
It means further increase in the prices of things across boards. Tougher times ahead but, for the sake of our sanity, let's remember...

1. Tough times never lasts but tough people do.

2. Every problem is an opportunity if only you can take a second look.

3. Elections have consequences. So, let's use this opportunity to learn our hands-on bitter lessons.

LoveLeadsLand:
It means further increase in the prices of things across boards. Tougher times ahead but, for the sake of our sanity, let's remember...

1. Tough times never lasts but tough people do.

2. Every problem is an opportunity if only you can take a second look.

3. Elections have consequences. So, let's use this opportunity to learn our hands-on bitter lessons.

surgical:
Has the government lead by example, they import Petroleum products that should be refined in Nigeria without any reasonable reason frittering away a large proportion of our forex,they import luxury cars for themselves using forex,they embark on medical tourism every now and then using forex,but anything that can alleviate they plight of the people, they block it,with this stupid idea they want to remove oxygen from the economy and altimately the masses

PressMyButton:
Let CBN squeeze your balls, all ye import gluttons, unproductive beings. Let our naira breett.

KillahPriest:
to your credit, you mentioned secondary school. Most of the locally manufactured goods in Nigeria still depend on imported foreign components since you can't have everything you want in one place. I've said it before and I'll repeat myself,, these your people in power are deliberately trying to destroy the economy and that's the only viable excuse for whatever they think they're doing which we're all seeing the effects of. A country can never tax it's already impoverished people out of its financial mess

Lemos14:


Mr man it's okay now I already said have a good day no need to go any further.

DeLaRue:


You think so, but that's not the reality.

There is a pain point at which demand for many imported goods will fall fast. People will simply start buying less and less of them. Whether that pain point is at N1500, N1800, or N2000 to a dollar, I don't know.

But the CBN will have the data. They know. If N1500 doesn't stiffle imports to the level they want, I suspect the CBN will not mind seeing naira close to N2,000 to a dollar.

In some ways, it is to the credit of Mr Tinubu's administration that it is willing to follow this extremely tough path to redirect the economy from import-dependence to greater local production. For a politician facing election in just over 3 years to follow a path that may not show positive results for a few years, is truly brave.

The Nigerian economy was heading for the rocks after over 40 years of mismanagement. Tough decisions are needed to correct long term over dependence on imports.

That naira/dollar pain point is the point at which local production of certain goods starts becoming more viable than importing the same goods. This should translate to us producing more of what we need locally. This will lead to more job creation, less pressure on the naira, and a stronger, more balanced economy in the long term.

But this approach comes with a lot of economic pain initially, as the country is witnessing now.

That's the theory o.

Whether things happen in practice like I stated above is a different matter, because Nigeria's situation often defy economic theory.