So the government is also into speculation as....

Money available for expenditure should be increasing with increasing dollar rate

Therefore, if 20 trillion Naira was available to the government for expenditure when dollar was #700, what should be available to government now that $ is 1820 should be 1820÷700×20tn
That is 52 trillion Naira, but Nigerians don't know about this

After reading the bolded I was hoping you are now seeing clearly, only for you to behave like the typical black man in the next paragraph.
To start with, are you aware that govt is paying more subsidy to keep the PMs price stable because of the rising dollar ?
Are you aware of the fast rising inflation?
If the govt budgeted 250 bags of cement for a particular construction at #5000 what is the current cement price ?
Are you aware that contracts awarded by govt. are subject to review based on changes in cost of raw materials?
Which construction company will win a contract of 500m in naira and execute it at 1 billion naira ?
Even if the construction firm goes ahead to execute the contract, will the quality be the same?

tctrills:

What do you mean what you talk about tribal sentiments? Economics is not about sentiments.
Now, the budget for all roads are in naira. So yes the fall of Naira may affect the private companies building the road but not the government. There may be a reduction in the profit of the construction company but not the FG.
Also let's talk about salaries that a paid in naira. It's clearly very profitable for the FG.

Of course we are aware of how you politicians are hoarding dollars and making billions from it.
Only to come on national television to deceive the masses,But you know what , God will surely punish all of you

Firstorderwizard:
Let me assume Sen. Ndume was misquoted because I don't believe this is coming from a Nigerian Senator

Even a Primary school drop out knows better for a country whose import is far more than the export

but you have not been able to negate anything he said

Firstorderwizard:
After reading the bolded I was hoping you are now seeing clearly, only for you to behave like the typical black man in the next paragraph.
To start with, are you aware that govt is paying more subsidy to keep the PMs price stable because of the rising dollar ?
Are you aware of the fast rising inflation?
If the govt budgeted 250 bags of cement for a particular construction at #5000 what is the current cement price ?
Are you aware that contracts awarded by govt. are subject to review based on changes in cost of raw materials?
Which construction company will win a contract of 500m in naira and execute it at 1 billion naira ?
Even if the construction firm goes ahead to execute the contract, will the quality be the same?

You are still not getting it? Have you heard of any construction company pulling out of contract with the FG?
Look, the FG is clearly making profit from the currency fall.
You spoke about fuel sub but that's not an added cost. It has always been there.

Human being were sold as slaves to the white people in west africa particularly in Nigeria. Today we still experience the same. These leaders are willing to sacrifice your lives in mass, to enrich themselves. There is a problem with people in this part of the world. We are greedy, non challant and evil.

Firstorderwizard:
Let me assume Sen. Ndume was misquoted because I don't believe this is coming from a Nigerian Senator

Even a Primary school drop out knows better for a country whose import is far more than the export

I'm shocked too

Let's assume we should be clapping when the dollar keeps increasing...

Una see ehh.. Very soon even fifty naria would be dump as trash, our currency keep declining

Firstorderwizard:
Let me assume Sen. Ndume was misquoted because I don't believe this is coming from a Nigerian Senator

Even a Primary school drop out knows better for a country whose import is far more than the export

The question is how much does government import? Majority of importation is done by private enterprises. And mind you, for all importations, government collects a percentage as import duties from them. The Nigerian economy is majorly driven by private sector. Therefore, government's import is lower compared with it exports

Onanuga over to you.

Shots fired!

This mumu illiterate senator doesn't even know basic economics how will devaluation of the naira benefit the govt and the masses when the excess naira in circulation will definitely causes inflation of goods and services?

cornelman:
The question is how much does government import? Majority of importation is done by private enterprises.

^^^
Government imports quite a lot actually - when you look at imports by currency value and not volume or tonnage. In 2022, over one fifth (20%) of this country's imports by value were refined mineral fuels (PMS), oils and related products. As you are no doubt aware, the NNPC (a government owned 'limited liability company') is the sole importer of PMS into the country and has been so for quite a while.

tctrills:

You are still not getting it? Have you heard of any construction company pulling out of contract with the FG?

^^^
Yes.

If the construction company isn't paid, it just stops work, leaves and doesn't return to site. We don't call it 'pulling out of contract'. The term 'abandoned project' is preferred.

Fujiyama:


^^^
Yes.

If the construction company isn't paid, it just stops work, leaves and doesn't return to site. We don't call it 'pulling out of contract'. The term 'abandoned project' is preferred.

Do you have any examples of that happening or are you just expecting it to happen?
Is there any construction company that has been paid up by the FG as agreed but
abandoned the project this year? Because of there is, the FG would challenge them in court and we would know about it.

tctrills:
Is there any construction company that has been paid up by the FG as agreed but abandoned the project this year? Because of there is, the FG would challenge them in court and we would know about it.

^^^
The problem isn't construction companies that have been paid...and yet still didn't deliver. The government does have every right to drag such contractors to court. The problem is when construction companies have not been mobilized...or they have not been paid their receivables...and yet they are expected to initiate projects or complete them fully.

tctrills:
Do you have any examples of that happening or are you just expecting it to happen?

^^^


Examples?!

How much time have you got?

Fujiyama:


^^^
The problem isn't construction companies that have been paid...and yet still didn't deliver. The government does have every right to drag such contractors to court. The problem is when construction companies have not been mobilized...or they have not been paid their receivables...and yet they are expected to initiate projects or complete them fully.



^^^


Examples?!

How much time have you got?

I have all the time, please list the companies that have abandoned their projects after receiving money from FG in 2023 and 2024