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Floating Of Naira Worst Economic Decision - PENGASSAN - Politics (3) - Nairaland

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Tinubu Inherited The Worst Economic Challenges So Far In Nigeria’s History - APC / Worsening Economy: Stop Floating Of Naira Immediately, Sagay Tells Tinubu (2) (3) (4)

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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by waveman2: 7:27am On Mar 05
Oga every candidate said they were going to remove subsidy but had a plan.Till today do we have federal govt sponsored buses on the road to ease transport?Do we have functional trains to move goods from one part of the country to another.We not only implemented one but two wicked policies and the floating of the naira actually buried the country.


JagabanB:

You warned but supported a candidate who said he was going to do so?
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Tochi360: 7:28am On Mar 05
sweetgala:



Stop this nonsense of "absolutely float the Naira" or absolutely remove subsidy.

These are difficult decisions and I'm glad Tinubu had the strength of will to do what was a necessary decision.

All the three major candidates agreed that a parallel FX market and the act of defending the Naira with borrowings was not proper and it was only kicking the can down the road.

What the CBN and FG have done is to let the market determine the value of the Naira, what they need to do as regulators is to with the EFCC and other law enforcement agencies go after rampant speculators.

It's only in Nigeria that speculators go unchecked, try that in USA and you might be looking at a long jail term. Financial crimes of that nature are frowned at and rightly so.

It's time that CBN continue to implement conventional monetary policies that guarantee the confidence of our currency while the FG need to cut cost all these jamboree flights to Qatar has to stop, the reckless spending of the legislative has to be curtailed.
The only big items in the budget across board should be infrastructure development, healthcare and education. Should be wage cuts across board for all political appointees.

That is the least Nigerians should seek

Bobo Tinubu and His evil APC structure of pain,hunger, hardship and insecurity do not have any plans to make Nigeria better, they only came together to snatch Power from pdp and keep it at all cost, Nigeria is politics first for Apc.
They are already planning on how to grab and keep Power in 2027 while una dey here dey form ITK grin
Even Tinubu sef no fit understand watin You write just now grin
Just GRAB POWER and Run with it is all the clueless President understands.

May the strongest stand on Grace.

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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by nairalanda1(m): 7:29am On Mar 05
femi4:
Oga , read the bolded again. He never said he would float the naira to solve the multiple exchange problem

Well, what he said basically amounts to a float

No more multiple exchanges, everything goes to a single exchange, no mention of pegging the naira.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by ufotunang: 7:31am On Mar 05
What did you expect from a president that only told Nigerians ..it's my turn?

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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Goodlady(f): 7:31am On Mar 05
Agreed

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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by ufotunang: 7:32am On Mar 05
What did you expect when old and dull men are voted into power
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Splashme: 7:36am On Mar 05
Sad
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by ufotunang: 7:40am On Mar 05
And if a policy is not working... floating of naira is not working..at least he can change the policy and look for another alternative economic policy that will work out...than stubbornly sticking to a policy that is not working and putting people in hardship...I do not blame him...I blame the rubber stamp national assembly members that do not know their duties of impeaching him
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Amudeneogu: 7:41am On Mar 05
Which way Nigeria, which way Nigeria, which way to go which way to go I love my fatherland, I want to know I want to know, etc

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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Basic123: 7:41am On Mar 05
Abagworo:


None of them suggested absolute floating of Naira.

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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Basic123: 7:42am On Mar 05
ufotunang:
What did you expect from a president that only told Nigerians ..it's my turn?

From a deaf fool that only heared "its my turn " 😆
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by nairalanda1(m): 7:44am On Mar 05
Basic123:
...

Many do not want to suffer under a president who was not their candidate....


IN a few words, that is why we won't see change in Nigeria
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by waveman2: 7:47am On Mar 05
You can just make the economy productive over night.we need to set some major policies in place like insecurity,electricity,fx,ease of doing business,etc before the economy can beginning to be productive.Past Nigerian govt haven't laid down those foundations,we would have still experienced this hardship should any other candidate had won except the person wanted to continue the cosmetic surgery like other successive govts.floating the naira was hard but tinubu i believe should have done a partial floating i.e the manufacturing sector should have incentives to boost local production.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by magzey: 7:59am On Mar 05
lonecatt:
First class student of accounting indeed.
Sometimes I feel tinubu is playing dumb so as not to look better than buhari.
Who first class in accounting epp, better pursue the professional certification you are not yet there. grin grin
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by magzey: 8:12am On Mar 05
I concur % with PENGASSAN those economic Mugus are one chance, they don pity the poor because they don have relationship with the poor ,they keep lying to the president saying it has started yielding good result ,what is good about N1,620 to 1$ for heaven sake ?

Re: Floating Of Naira Worst Economic Decision - PENGASSAN by yinkkus: 8:21am On Mar 05
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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Deltavariant(m): 8:22am On Mar 05
LeeSantos:
Since 1960. Nigerians have never for once enjoy a good standard of living. It has always being Like this,
No generation has had any good thing to say about the country.

I have never supported the APC administration right from when they captured power but I think we should start our blame from those generation where the Naira was 0.75 to 1$

It even worst for This generation children. They don’t even enjoy what most kids born in 90s and early 2000 enjoyed. Kids can’t even afford to buy biscuits, sweets, good and enough foods, fruits, toys, cloths, indomie etc.
I describe the period between 96-07 as the golden age of my life

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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Daystar7: 8:45am On Mar 05
JagabanB:

You warned but supported a candidate who said he was going to do so?

Did the candidate say he was going to carelessly announce subsidy removal on his inauguration day without drawing up a plan with a committee? Did he say he will float the Naira. You candidate didn't even engage in a public discuss apart from Emilokan. Na statistics we go chop? Do you collect salary in $? And incoherent jargons like balablu today y'all take solace in that Peter Obi and Atiku said they were going to remove subsidy. That's one thing with dullards, take other people ideas and bastardize it as they're clueless as to what to do with it. Keep deceiving urself with others said same without caring to know how they would have applied it. We know transport is needed for travel to UK then dullards like you will just pick up bicycle when they could have been more efficient by using the air or sea. That's how dull y'all agbadorians are
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Anatolia: 9:17am On Mar 05
At this moment, Tinubu should resign because his economic policies has failed.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Asonaijaaso: 9:27am On Mar 05
THE NAIRA HAD TO BE FLOATED, WE CANNOT KEEP OPERATING ON MONOPOLY ECONOMY.

IF WE HAVE TO COMPETE WITH THE OUTSIDE WORLD, WE HAVE TO ALLOW OUR NAIRA TO BE "REAL"

NOT FAKE AND PROPPED UP BY ARCHAIC POLICIES.

WE HOWEVER NEED TO CURB CORRUPTION.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by trytillmake(m): 10:13am On Mar 05
This is what Nlc should be doing, critique government policies and give solutions, not strike up and down.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Ready2speak: 10:32am On Mar 05
Plz is exchange rate tied to what?

Simple economics dictates that if there is not a strong production and export base for your economy, is it not unwise to float your currency? When there is weak agricultural policy that is making it difficult to produce enough for home consumption, will it be economically wise to ban importation of food until enough capacity is built?

I think wisdom is profitable to direct.
Zetty177x:

The reason why we are facing this difficulty is really not because the fuel subsidy was removed, it is mainly because of the exchange rate.

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Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Zetty177x: 10:40am On Mar 05
Ready2speak:
Plz is exchange rate tied to what?

Simple economics dictates that if there is not a strong production and export base for your economy, is it not unwise to float your currency? When there is weak agricultural policy that is making it difficult to produce enough for home consumption, will it be economically wise to ban importation of food until enough capacity is built?

I think wisdom is profitable to direct.

What did u just say? Are u in support of the floating?
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by netricoin: 11:22am On Mar 05
JagabanB:

This is just what Obidents are saying now that Obi would have put measures in place before removing subsidy when Obi said emphatically that he will remove subsidy "immediately without wasting time, it has to go".
They both said they will remove subsidy and float the naira.
Obi said, his own which I remember very well that "market forces will determine the value of the naira".
Why twisting narratives now?
Why??
But you failed to include:
Finally, the Obi/Datti campaign states it will “dismantle” the multiple exchange rate regime and “demand” the “transparent liberalization of the foreign exchange market” which may or may not be a full float of the foreign exchange market.

“Fiscal and monetary policy will therefore be properly coordinated with each deploying conventional tools transparently instead of distorting markets to favour a few privileged persons. For the avoidance of doubt, we will demand the transparent liberalization of the foreign exchange market and the dismantling of the opaque multiple exchange rate regime which effectively subsidises a few privileged persons, whilst depriving government of badly needed revenues. When unaffordable subsidies are removed, some carefully calibrated transfers will be used to cushion any adverse impact on the economically weak
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by JagabanB: 11:26am On Mar 05
Daystar7:


Did the candidate say he was going to carelessly announce subsidy removal on his inauguration day without drawing up a plan with a committee? Did he say he will float the Naira. You candidate didn't even engage in a public discuss apart from Emilokan. Na statistics we go chop? Do you collect salary in $? And incoherent jargons like balablu today y'all take solace in that Peter Obi and Atiku said they were going to remove subsidy. That's one thing with dullards, take other people ideas and bastardize it as they're clueless as to what to do with it. Keep deceiving urself with others said same without caring to know how they would have applied it. We know transport is needed for travel to UK then dullards like you will just pick up bicycle when they could have been more efficient by using the air or sea. That's how dull y'all agbadorians are
Same way Obi sat and planned with committee before hiking tuition fees that led to protests?
Same way he planned with committee before suspending LG tier of government right?
LOL.
We supported Tinubu when he said he will remove subsidy, u can Iie to urseIves all u want, Obi said he will remove subsidy "immediately without wasting time" does that statement sound Iike he was going to sit with a committee or he sat with the committee before coming to campaign?
DuIIards are always quick to taIk about others being duIIards, DuIIards always project themselves on others, I am not surprised at all.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by 9jatriot(m): 11:28am On Mar 05
Oh boi, where you for go dig these things come out? I have always felt that that lamba king is quite sneaky... He says things he does not know the consequences of, but once someone else does it and he sees the resultant effect, he quickly begins to criticize just to be in the good books of his followers.
GeneralDae:

This is Obi.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by JagabanB: 11:29am On Mar 05
waveman2:

Oga every candidate said they were going to remove subsidy but had a plan.Till today do we have federal govt sponsored buses on the road to ease transport?Do we have functional trains to move goods from one part of the country to another.We not only implemented one but two wicked policies and the floating of the naira actually buried the country.


You supported a candidate that built a monorail on paper but somehow u make urseIf believe that someone who said he will remove subsidy "immediately without wasting time" will build rail way, put buses on the road, someone who said he will allow market forces to decide the value of the naira will put everything in place before implementing them, so tell me, how many railways did ur candidate ever build?
How many buses has he ever put on the road to ease public transport when he was in power?
Being deIusionaI all in the name politics dón't heIp.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by JagabanB: 11:33am On Mar 05
Tochi360:


And He came to your house to tell You He will remove subsidy immediately without putting up necessary policies in place to tackle the effects??

You guys have been known to be hypocrites since the emergence of this Apc calamity in 2015,deep down your heart you know that Apc is the greatest disaster to befall this Country and the buhari govt made Nigerians extremely poor,to the extent that bearing this great tinubulation will be very tedious for the common man hustling legitimately to survive,but ofcus You soul is plainly rooted to my party my candidate must win politics, whatever happens next doesn't matter.

I don't expect anything meaningful from a man who doesn't believe in Nigeria,I don't expect anything meaningful from a dunce who doesn't have any blue print and plan for governance,JUST GRAB IT and RUN WITH IT is what We have going on grin

May the strongest stand tall on Grace.
So ur candidate came to ur house to tell you he was going to put necessary policies in place?
Obi said he will "remove subsidy immediately without wasting time", he didn't talk about any policy, to continue in ur hypocritîcaI àttàcks, u all formed the policy part.
APC is the reason we have so many pliable roads in Nigeria now, unlike before, APC is the reason our rail network is growing, APC is the reason why projects start and are not abandoned.
To remind u, I don't support the party, I support individuals who I believe in, in the last election, I voted for APC as well as PDP and SDP candidates unlike u who did Eluu P top to bottom.
You believe in a prosperous society and u support Obi?
Is there any IeveI of hypócrîsy worse than that?
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by JagabanB: 11:35am On Mar 05
Abagworo:


All candidates unanimously suggested subsidy removal but none including Tinubu said they would float the Naira. Floating means allowing your currency value to be determined by speculators not devaluation
I heard Obi said he will "let market forces determine the value of the naira" the Atiku part, I heard it from Reno.
So they all suggested to do so.
The average Nigerian speculator will choose his own gain even if others are sîñking, it's a Nigeriàñ thing.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by JagabanB: 11:37am On Mar 05
Emyogalanya:
And you forget that he who alleges must prove it? my friend bring your proof
If Obi said otherwise, you would have rush to post pictures and videos, you know he said it, to live in denial is good sometimes.
I am also alleging that Obi and Atiku contested in the last election, but I don't have proof that they contested in the last election.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by JagabanB: 11:39am On Mar 05
Blaze14k:


If you know obi will do all these things why did you vote for him?
I didn't vote Obi so I don't really understand ur reply.
Re: Floating Of Naira Worst Economic Decision - PENGASSAN by Emyogalanya: 11:41am On Mar 05
JagabanB:

If Obi said otherwise, you would have rush to post pictures and videos, you know he said it, to live in denial is good sometimes.
I am also alleging that Obi and Atiku contested in the last election, but I don't have proof that they contested in the last election.
MU**

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