Who repays the borrowed funds? Are we repaying in naira or same dollars because I don't understand the logic here. Instead of encouraging local production to gain forex they still want us to enter into a deeper shit by borrowing.

FRAUD KILLED ALL OF YOU IN NIGERIA GOVERNMENT HOUSE

Tell us what happened

We already Know What The Naira Devaluation is about. It is all about Conniving with Owners of World Bank and I.M.F to Loot Nigeria's Treasury.

How will Western Europeans live withouth there Parasitic Act Of Foreign Land TRESURY LOOTING using Greedy and Desperate Puppets like TifNuBUU?



All I will tell you fellow Common Nigerians is to learn how to:

1. Convert your Naira to alternate Dollar a.k.a USDT which can't be controlled by Nigeria Government etc.

2. Exchange the USDT for USD for Profit making.

3. Receive the USD in Nigeria via GeegPay and or ChipperCash, Crypto-To-Naira P2P deals on Bybit, Kucoin etc.

4. How to do Crypto Inter and Intra EXCHANGE ARBITRAGE

5. Use Profitable African Originated Payment Processors That Act As Money Deposit Banks like PayDay etc.

6. Use Intercontinental Profitable Payment Processors like PayPal, Webmoney, YooMoney etc. for Naira-Dollar Arbitrage where you make Money repeatedly instantly.

7. Uncover Bank Transfer Findable Profitable Virtual Cards that can be funded with NAIRA


See enh, present Nigeria Government is signatory to ONE WORLD GOVERNMENT ARRANGEMENTS THAT IS WHY Tinubu is heeding the words of those Western Imperialist against we Nigerian citizens.

But thank God, THE BANKS are two sides of a coin; one for the Ruling Elites and the other side is the Commoners like you and I.

So whatever heat they bring, can be cussion with Deep Knowledge of Currency Arbitrage be it CRYPTOCURRENCY or FIAT.

limeta:
Buhari the dunce

For given Tinubu power

That’s a lie
Ramp up productivity and exports
Bring the conflict minerals in Zamfara, kaduna, Borno and Nassarawa online from private hands

Izuogu4Presdent:
The Ekperima snatched power and can't do anything with it. Thunda fire his Agbado southwest urchin brother's

Na them go kpeme first

When it was reported that Nigeria had only $2 billion in foreign reserve, to cover Buhari up, the government of Tinubu disputed it. That evil terrorist government looted Nigeria naked. What Nigeria is facing now was planned by him. For how long can you go with that? The solution now lies 60 per cent in agriculture, but that remains impossible until there is solid security in the land. Time for state and local council policing is now. Let this be urgently done.

CBN has a lot to do to stabilise the economy but you cannot stabilise non-existent economy whose basis is naturally agriculture. I am not an expert economist, but common sense tells us you cannot borrow to get out of an economic catastrophe if you've got no strong support to pay off your debt and gain something to live happy. When you dig a hole to cover a hole, you are leaving another hole behind. You will definitely remain in the hole or gulf which grows to become a two-fold tragedy because you will in addition remain a servant of your lender until God knows when.

nedekid:
As a layman in economics, I think we should put a moratorium on all new projects for the next 2 years, heavily cut down on government spending. You cannot have low income, borrowing money, then building bridges and roads etc. That may be a recipe for desaster. Sinking deeper into debt. Look at it like our guys on this forum and loan shark sokoloan. You are broke, you take sokoloan with no means of payback. You then use the money to buy phone, inststead of turning it over several times in your existing business then using the gain to buy the phone.
One of the ex presidential candidates did that in his state. A state in debt, cut down expenses, turned the accounts from red to green and then left huge cash in the account for his predicessor to continue, with the intention that he will sustain the momentum, spending in a sustainable way out of saved amount. But what will Nigerians say, he did nothing, no new road no this no that. How do you spend on infrastructure through borrowing? Will you be in debt and then take loans to buy new car, build new house, or rather use the money to revive your business and when it makes profit, use the profit to build the house and buy the cars?

I keep asking my self ..why borrow to build red rail line or blue rail line when we don't have the means to pay back...

What kind of trash talk is this? Isn't it the borrowing at the first place that plunge us into this mess? So we should go on with borrowing abi? Such incompetency

adenigga:


Source: https://punchng.com/Only-foreign-borrowing-can-save-naira-clear-CBN-debts-EIU

My takes from this read up:

1. The removal of subsidy and naira devaluation was not well thought out, no matter how the Govt. press have made them to appear. Decisions appear to have been mulled at a beer parlour or maybe he was misadvised.

2. Tinubu's administrative prowess and so called intellectual experience have been overestimated. He doesn't have them. Only an inexperienced leader will take those two heavy decisions same time without weighing the consequences(something a high school student would have done). Now the subsidy is back much more than it was when he stopped it.

3. The Govt, deliberately devalued the currency, there is absolutely no truth in the floating and the willing buyer/willing seller hogwash being bandied about.

4. Nigeria is in deep shit. The current guys in charge of the economy are clueless. They are just pulling at straws to see if the field will settle magically.

5. Nigeria will have to continue borrowing to even run the govt. With little coming from oil production sales and huge appetite for importations, there is no way out for at least the next few years. The economy has been so badly mismanaged in the past and the

6. If anyone is deceiving you that the exchange rate will get back to N1,200 or so, you are in a la la land. It will never get back. The Govt deliberately devalued. There is nothing like floating the currency. it was devalued.

7. Dangote refinery can not rescue Nigeria. Expecting a private entity to run at losses to shore up an economy is foolhardy, to say the least. He will prioritize foreign sales and remittances will be to the company accounts in diaspora.

8. I am shocked that Nigerians are this docile, not challenging the government to brace up and look for quicker remedies to its wrong decisions. They really do not understand how things will get bad in coming months when minimum wages are increased(and if they are not increased, there will be strife). Nigeria is in a big trouble, I can foresee.

My view. if you have the means to get out of Nigeria or move your assets out at least, do not delay. Act now. With the people at the helm now, it will never get better, as disheartening as it sounds.

adenigga:


Source: https://punchng.com/Only-foreign-borrowing-can-save-naira-clear-CBN-debts-EIU

Den take stupid leaders and stupid voters swear for us ni?

What happened to producing and exporting?

RUbbish commentatiom from that economic rresearch body or whatever it is . OUR biggest mistakes as a mation has always be listening to these foreign organisations. look how far down weve plunged since we started paying attention to imf and the world bank.

This maths is not matching oo..

Wait oo, is it not the buhari massive burrowing that put Nigeria in this mess,

So why tell us to burrow more again as the solution out?

There is clearly nothing intelligent about this unit. Borrowing is what got the econoomy like this and they keep borrowing

mytime24:
What happened to d already borrowed ones

Good question..

Look at the mess APC has wrought on ppl

Your wailing de inspire me
How much does the Pandora criminal pay jobless ipob like you daily I wan volunteer as e bi pa wa O.

DatNiggaDaz:
Oya Tinubu carry your bambiala plate go beg for loans.

Thiose who looked the other way while you snatched, grabbed and ran away with Nigeria's mandate have told you what to do.

If you don't go & ask for more loans, they will expose you as a fake graduate from Chicago

Ebi pawa ooo
More hardship loading,
Oh God come to our rescue

seunayantokun:
When it was reported that Nigeria had only $2 billion in foreign reserve, to cover Buhari up, the government of Tinubu disputed it. That evil terrorist government looted Nigeria naked. What Nigeria is facing now was planned by him. For how long can you go with that? The solution now lies 60 per cent in agriculture, but that remains impossible until there is solid security in the land. Time for state and local council policing is now. Let this be urgently done.

CBN has a lot to do to stabilise the economy but you cannot stabilise non-existent economy whose basis is naturally agriculture. I am not an expert economist, but common sense tells us you cannot borrow to get out of an economic catastrophe if you've got no strong support to pay off your debt and gain something to live happy. When you dig a hole to cover a hole, you are leaving another hole behind. You will definitely remain in the hole or gulf which grows to become a two-fold tragedy because you will in addition remain a servant of your lender until God knows when.

Buhari might have mismanaged the economy broadly speaking, the hasty decision to remove the subsidy and devalue the currency without a proper plan is responsible for the worse situation. Leave Buhari out of this for now. The guy who bragged about fixing Nigeria based on building Lagos is now in charge of destroying the country completely. The govt has no choice but to borrow. There is no other option at least for now. Nigeria is going, going.....

No sincere government of africa should listen to this useless foreign people, Russia was not borrowing and under action and yet her economy stable and currency strong, we need to borrow leaf of advice from Russia and not follow the so useless imf, world bank and their useless associate advice

now I'm convinced Tinubu is doing the right thing.

olarent:
No sincere government of africa should listen to this useless foreign people, Russia was not borrowing and under action and yet her economy stable and currency strong, we need to borrow leaf of advice from Russia and not follow the so useless imf, world bank and their useless associate advice

those lads would use one body to advice you and use another body to condemn you.
they are disappointed Tinubu is already working Nigeria into a self sufficient financial country.

Yes, those useless people are the one given africa leader useless economy advice.

jumper524:
now I'm convinced Tinubu is doing the right thing.

Yes boss.

jumper524:
those lads would use one body to advice you and use another body to condemn you.
they are disappointed Tinubu is already working Nigeria into a self sufficient financial country.

Blazetrailer:


Buhari might have mismanaged the economy broadly speaking, the hasty decision to remove the subsidy and devalue the currency without a proper plan is responsible for the worse situation. Leave Buhari out of this for now. The guy who bragged about fixing Nigeria based on building Lagos is now in charge of destroying the country completely. The govt has no choice but to borrow. There is no other option at least for now. Nigeria is going, going.....

that's where they want us, keep borrowing to hide our flaws then in the end, problem persist no matter how hard we find solutions.
tinubu is already resisting such people.
and to tell you the truth, subsidy is one thing derailing our economy for decades..
they inned us in a situation that whenever subsidy is removed, they devalue your currency and make you pay for same subsidy.
they want us as slaves forever.
IMF has been busted now this one that can't save UK economy is dishing advice.

First, you said this

drlateef:
... Meanwhile naira is now 1500 in parallel market. By Friday it should be below 1000..

But CBN themselves on Wednesday sold the dollar for 1300+ to BDCs before profit.

Then, you said this

drlateef:
Do you know how much Emefiele borrowed everywhere to keep the rate at that level?

Now, Look what we have here.

Governance is not wishful thinking in WhatsApp Groups. Hope you are learning?

Jaqenhghar:
There is clearly nothing intelligent about this unit. Borrowing is what got the econoomy like this and they keep borrowing

Comprehension issue!! You are the unintelligent one. Now read

1.The govt is not getting forex inflows. All future oil sales for months/years have been locked up in future/derivates, meaning the oil have been sold in advance and money collected by previous administration.

2. The current govt came up with an expansionary budget, designed to spend its way out of economic challenges, hence a very huge budget

3. The subsidy is back, meaning govt have to spend more than it budgeted in order to avoid social strife/disruption

4. No multilateral/bilateral organisation is willing to give Nigeria further loans due the poor ratings and so because they feel that the reforms were half hearted and there might be irrational govt interventions soon based on on-going events.

5. The only option left is to borrow internally through ways and means(same thing previous admin did)

All of the above are facts in the open.

Do you understand now?

I have advice for the government, but don't know how to channel it, government should make use of prisoner for economy recovery and progress, the way forward is prisoners with light sentences government should encourage them to farm on government reserve land nation wide and give them tools needed, food security we be secure. I have other ideas that can be immense benefit to this nation.

Hmm...

There is money in this country... the problem is that it does not circulate in a productive manner.

We have what I would like to term a case of massive 'unproductive corruption' in Nigeria.

The government officials steal funds to live an extravagant lifestyle, oppress the masses, stash abroad, buy houses and lands that are unproductive, import cars and other foreign goods that are unproductive and spend on wh×res who in turn spend on unproductive things.

So the money is not circulating in the way it should to boost the economy.

2mch:
Not true. But we are not ready for the hardship that comes with doing things the right way.

what is doing things the hard way you guys keep regurgitating? Is poverty doing things the right way? Whr were you when the govt budgeted billions for cars, was that lso the hard way?