Despite suffering a second devaluation of about 45 percent in February, the naira was tagged, according to analysts, “the second-worst-performing currency in the world, after the Lebanese pound”.

The Buhari-led government sold our future when they collected payment for future crude oil production. What the CBN is simply doing now is documenting receipts of money paid to the previous government.

garriAndsugar:


For those supporters of Tinubu who will pretend not to see this, I have bolded it Incase hunger don reduce una sight.

Tinubu the so called master Strategist should know that all this trial and error method he is
doing won't work

“The order for the CBN to take charge has provided no respite, as the NNPCL is only producing for crude oil already paid to the previous Buhari-led administration that sold the oil in advance.

“The Buhari-led government sold our future when they collected payment for future crude oil production. What the CBN is simply doing now is documenting receipts of money paid to the previous government.

seunmsg:





I am sure you read the part in bold. Tinubu is not the problem but years of wrong policies. Tinubu is only trying to fix the problem that was created over 4o years ago. He can't fix the problem in 10 months. Stop putting the blame on the person that is doing everything to fix the problem.

bjdon:
This has to be fake news. No central bank governor, anywhere in the world can achieve a set exchange rate. Exchange rate is a function of demand and supply

seunmsg:





I am sure you read the part in bold. Tinubu is not the problem but years of wrong policies. Tinubu is only trying to fix the problem that was created over 4o years ago. He can't fix the problem in 10 months. Stop putting the blame on the person that is doing everything to fix the problem.

DeLaRue:
I suspect the CBN will not want naira to go higher than say N1300 for a while yet.

In my view, N1450 - 1650 is the pain point range where imported goods becomes less and less affordable, and investment in local alternatives can begin to take shape. This is a higher priority for the government.

If you're one of those who believe we need to go from consumption to production, then you need to know that, that transition is unlikely to happen if dollar rate is at N700. At that rate, imports will be too cheap.

The Cbn will not even allow the naira to go anywhere near N700 for a few years to come, otherwise we will be back to square one where we are back to importing everything under the sun, with no production capacity of our own. These unbridled imports will then need to be funded by government borrowing dollars for future generations to pay.

It ain't happening.

Let's try and produce more of what we use.

a4cube:
You are blaming Buhari now abi. Hahaha the failure igbos saw 9 years ago is what you and your naive people are seeing now.
Rest the Omo Igbo abeg.

seunmsg:





I am sure you read the part in bold. Tinubu is not the problem but years of wrong policies. Tinubu is only trying to fix the problem that was created over 4o years ago. He can't fix the problem in 10 months. Stop putting the blame on the person that is doing everything to fix the problem.

DeLaRue:
I suspect the CBN will not want naira to go higher than say N1300 for a while yet.

In my view, N1450 - 1650 is the pain point range where imported goods becomes less and less affordable, and investment in local alternatives can begin to take shape. This is a higher priority for the government.

If you're one of those who believe we need to go from consumption to production, then you need to know that, that transition is unlikely to happen if dollar rate is at N700. At that rate, imports will be too cheap.

The Cbn will not even allow the naira to go anywhere near N700 for a few years to come, otherwise we will be back to square one where we are back to importing everything under the sun, with no production capacity of our own. These unbridled imports will then need to be funded by government borrowing dollars for future generations to pay.

It ain't happening.

Let's try and produce more of what we use.

seunmsg:





I am sure you read the part in bold. Tinubu is not the problem but years of wrong policies. Tinubu is only trying to fix the problem that was created over 4o years ago. He can't fix the problem in 10 months. Stop putting the blame on the person that is doing everything to fix the problem.

DeLaRue:
I suspect the CBN will not want naira to go higher than say N1300 for a while yet.

In my view, N1450 - 1650 is the pain point range where imported goods becomes less and less affordable, and investment in local alternatives can begin to take shape. This is a higher priority for the government.

If you're one of those who believe we need to go from consumption to production, then you need to know that, that transition is unlikely to happen if dollar rate is at N700. At that rate, imports will be too cheap.

The Cbn will not even allow the naira to go anywhere near N700 for a few years to come, otherwise we will be back to square one where we are back to importing everything under the sun, with no production capacity of our own. These unbridled imports will then need to be funded by government borrowing dollars for future generations to pay.

It ain't happening.

Let's try and produce more of what we use.

DevilsEqual:

Your analysis dey always burst my brain but then, if the exchange rate remains that high then Goods become unaffordable for even the middleclass, and that means things will be worst for those at the bottom

Its not gonna be anything good for thr country as most people dont even earn enough to start with

Acidosis, come and explain/tackle this point

DeLaRue:
I suspect the CBN will not want naira to go higher than say N1300 for a while yet.

In my view, N1450 - 1650 is the pain point range where imported goods becomes less and less affordable, and investment in local alternatives can begin to take shape. This is a higher priority for the government.

If you're one of those who believe we need to go from consumption to production, then you need to know that, that transition is unlikely to happen if dollar rate is at N700. At that rate, imports will be too cheap.

The Cbn will not even allow the naira to go anywhere near N700 for a few years to come, otherwise we will be back to square one where we are back to importing everything under the sun, with no production capacity of our own. These unbridled imports will then need to be funded by government borrowing dollars for future generations to pay.

It ain't happening.

Let's try and produce more of what we use.

garriAndsugar:


For those supporters of Tinubu who will pretend not to see this, I have bolded it Incase hunger don reduce una sight.

Tinubu the so called master Strategist should know that all this trial and error method he is
doing won't work

seunmsg:





I am sure you read the part in bold. Tinubu is not the problem but years of wrong policies. Tinubu is only trying to fix the problem that was created over 4o years ago. He can't fix the problem in 10 months. Stop putting the blame on the person that is doing everything to fix the problem.

a4cube:
You are blaming Buhari now abi. Hahaha the failure igbos saw 9 years ago is what you and your naive people are seeing now.
Rest the Omo Igbo abeg.

bjdon:
This has to be fake news. No central bank governor, anywhere in the world can achieve a set exchange rate. Exchange rate is a function of demand and supply

garriAndsugar:


For those supporters of Tinubu who will pretend not to see this, I have bolded it Incase hunger don reduce una sight.

Tinubu the so called master Strategist should know that all this trial and error method he is
doing won't work

bjdon:
This has to be fake news. No central bank governor, anywhere in the world can achieve a set exchange rate. Exchange rate is a function of demand and supply