Paramount01:


But you must be card carrier A. P. C member or a Muslim for you too support Tinubu against your brother

I cant support incompetence... If Nigeria is like Anambra or lagos which will u prefer? The truth stares u in the face..

Objectivity is difficult to understand when u look through the lens of tribalism. Drop that lens and u will understand the bolded can occur..

Even if the naira is appreciating but without a reduction in price of fuel and disel the prices of foodstuffs and goods and services cannot go down

EreluRoz:
Let's not lie Tinubu is trying, just that he met a disaster on ground . Things he would have to bear for wanting to be president of a messed up country.

Mark this down Tinubu will leave government as a good president.

Things are hard now but it won't be for long.

Take this from my humble self The Erelu Oodua

How much was dollar when he took over as president, this is not the time to praise him because he was the one that cause it

How come price of food is still high

Tinubu should make it fall to 200 naira. this is the wisest economic decision. imagine the quantum leap it will bring to the economy. companies will be able to buy more machinery and raw materials thereby creating massive jobs and Nigerians will be respected all over the world,
imagine buying machines worth 100000 dollars with just 20million naira.

misreal:

Abeg how much NTA dey sell?

Cheater than your plug

grandstar:
This isn't good news.The fundamentals don't support it.

If the foreign reserves have dropped by over a billion dollars in the past 30 days, it simply indicates the currency is now overvalued.

There's also the issue of he expected wage increase on May 1st. This is bound to lead to an increase in money in circulation which should spook inflation and a depreciation of the local currency.

I suspect the Naira's true value is around 1,400. This would make sense as monetary policy is still loose.

The CBN needs to tighten monetary policy. This would mop up excess cash in circulation which would lead to an appreciation of the Naira and a drop in inflation.

In addition, I feel the elephant in the room is the petrol subsidy. Latest reports have it that presently, the government spends as much as 907bn monthly on it.

A weak Naira increases the cost of the subsidy. The stronger the Naira it is, the lower the expense of the government.

The subsidy needs to be completely done away with and the price of petrol deregulated.

To mitigate the pain of any price increase, government should lift the protectionist wall built against the importation of rice, poultry and okrika.

A 20% import duty on these products would crash their prices. I won't be surprised if a bag of rice drops to 40k per bag. A kilo of poultry would probably drop to 2-2.5k per kg.

I would have said import duty on cars should be reduced to 20%.

I would have added the import duty on wheat should fall from 70% to 20% but the Common External Tariff for the produce is set at 50%, so it's a no-no.

Food in Nigeria is higher than it should partly due to the high import duty on food.

with the hardship in town, mopping up cash labelled as excess is just a wicked and indirect way of saying people should go and die.

Wish it continues gaining, ameen

Alexlalax1:
Naira hits.....yet the price of goods and services no gree come down. Na wetin common man needs. Not all these nonsense and ingredients.

How much is a bag of rice in your vicinity?

maridrug:

How much is a bag of rice in your vicinity?

How much was a bag of rice before tinubu became your president? See jamb question.

LegendHero:
Omo when I sent money to my guy 2 days ago, my body do me one kind thing like I’ve been scammed. Imagine $$ wey you go send $100 give people wey them go praise you coz like 170k go biza, now that same $100 na just normal 100k.

Naira at almost N1097, today trading almost closer to N1000.

Cardoso should just make sure it never go above 1k ever again. They should deploy every strategy and make sure it get to a certain amount and stabilize.

God bless Nigeria.

$1k to N100k is not normal at all. When I first came to US in 2016, $1k dollar was giving like N220k. That is not even normal. Nature used to be bigger than dollar. We are oil nation

socialmediaman:
Keep defending the naira and giving poor Nigerians hope while the rich keep buying up dollar knowing it's just a temporary measure and USD will rise again

The same circle of cluelessness all over again

They are defending dollar and yet our foreign reserve still stands at over $33billion?

MorolayoVictor:
I need investors for my farm.

What is your farm like?

Naira getting less devalued against the dollar is good.

charlsecy:
What is your farm like?

It's basically on crops.

kunle4toyeyaho:
They are defending dollar and yet our foreign reserve still stands at over $33billion?

Leave the Thomases jor.

kunle4toyeyaho:
They are defending dollar and yet our foreign reserve still stands at over $33billion?

Not true

It has dipped from 34.4 to 32.6 billion USD in less than a month

https://nairametrics.com/2024/04/16/nigerias-fx-reserves-dip-by-nearly-2-billion-in-less-than-one-month-hit-lowest-level-in-over-six-years/

I have an haulage contract with Redstar Logistics an affiliate of Fedex.
My bottleneck is availability of trucks for the execution.
Intended investors are needed.