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Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote (32669 Views)

Naira Devaluation: Nigerian Banks Heading For ‘recapitalisation’ / Analysts Predict Naira Devaluation To N400/$ / How Was "Naira" Coined? Obafemi Awolowo Coined The Currency Name, Naira, In 1973 (2) (3) (4)

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Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by keymatt(m): 7:52pm On May 01
They'll soon call Dangote IPOB. grin grin grin grin

6 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by femi4: 7:58pm On May 01
immortalcrown:
Pot calling kettle black.
You dey mind him
Hypocrite, always in the camp of government of the day as long as his business is protected
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Kingspin(m): 7:59pm On May 01
Everyone will try to agree with him.
But if Obi others says the same thing.
Common sense will leave people's head.

Yeye country

12 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Johnpat198: 8:02pm On May 01
Nemesis will still catch this man
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by MsAllison(f): 8:03pm On May 01
Validated:
Dangote is Obidient and IPOBReno O'Mockery and Agbado urchins
Rhino ofockery the god of helinues

9 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by MT: 8:03pm On May 01
iwaeda:


When we said Balabubu don't know what he is doing, some people who don't know what is at stake kept on defending fraud. grin grin grin grin grin

Since you know what you are doing, lay bare your ideas if you were the president and let us critique the wisdom or folly in your thought.
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by FreeStuffsNG: 8:03pm On May 01
treesun:


https://saharareporters.com/2024/05/01/biggest-mess-created-2023-was-naira-devaluation-n460-n1400-nigeria-says-dangote
Others were not getting the dollars at N460 like you sir wink They have been in a mess for so longer than since last year.
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by tuoyoojo(m): 8:04pm On May 01
Apc for u

2 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Dennisochampa: 8:04pm On May 01
What about the loan emefiele gave him at a very useless rate??

Was that not a mess to Nigeria as a country??
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by strangest(m): 8:04pm On May 01
PressMyButton:

You should put on your glasses. Dangote refinery is a win-win. fuel price is expected to come down once fuel starts rolling out.


Continue dreaming.... With crude oil he bought from America with FX.... Una go get brain soon

12 Likes 1 Share

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by patwilly(m): 8:05pm On May 01
immortalcrown:
Pot calling kettle black.
According to experts there was no devaluation
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Believeintruth: 8:05pm On May 01
PressMyButton:

We have 20% stakes in his refinery, made cheaper loans to him and supplied crude oil in naira. Dangote appreciates the gesture and we appreciate him bringing down diesel price. There's no friction between Dangote and FG, it's only wailers looking for senseless and sensational headlines to begin the usual round of wailings.

Who is we? You no follow oooo

10 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by iwaeda: 8:06pm On May 01
MT:


Since you know what you are doing, lay bare your ideas if you were the president and let us critique the wisdom or folly in your thought.
Your god built Lagos, so let him continue his good work. grin grin grin grin

11 Likes 1 Share

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Believeintruth: 8:06pm On May 01
Godfullsam:
Floating the naira and removing at the same time was a reckless and myopic decision by balablu and his incompetent economic team.

Both decisions were good considering the amount of fraudulent activities happening, especially during the subsidy regime. But the way the Tinubu administration removed the subsidy without due consultation was terrible and unpardonable.

Don't be deceived, the government is still paying subsidy.

2 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by RillyBA: 8:06pm On May 01
Mad man as if him no be the top problem of the matter
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Elzazzi: 8:07pm On May 01
This one dangote is coming out to grumble like this. Its like he is not in Tinubu good books
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by YouAreNobody: 8:08pm On May 01
Kingspin:
Everyone will try to agree with him.
But if Obi others says the same thing.
Common sense will leave people's head.

Yeye country

E dey shock me

3 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by SoNature(m): 8:08pm On May 01
Only two categories of Nigeria cannot complain in this bad economy!

Those who steal the country's money and those who defend the clueless ruling party.

7 Likes 1 Share

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by onuman: 8:09pm On May 01
David160:
Slaves will soon attack him

If you have slaves as citizens of your country, you have no country. Educated illiterates springing up their likes.

1 Like 1 Share

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by PHIPEX(m): 8:09pm On May 01
Dangote is the new IPOB

3 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by safetyboot: 8:10pm On May 01
No more round tripping for you grin
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by 1972xy: 8:11pm On May 01
Hmm, since it is no longer as business as usual. There is no more allocation of dollar again to do business. ..no free crude oil...
Hence, Tinubu government na bachau.
We are watching.
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by patwilly(m): 8:12pm On May 01
Godfullsam:
Floating the naira and removing at the same time was a reckless and myopic decision by balablu and his incompetent economic team.

Both decisions were good considering the amount of fraudulent activities happening, especially during the subsidy regime. But the way the Tinubu administration removed the subsidy without due consultation was terrible and unpardonable.
Floating the naira was an unwise decision by Tinubu..an unfortunate policy not well thought out. An impromptu, on the spot decision.

5 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by onuman: 8:12pm On May 01
Another hero asslicker will defend the sufferings of Nigerians.

LegendHero.

3 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by YourMrBoo: 8:13pm On May 01
PressMyButton:

We have 20% stakes in his refinery, made cheaper loans to him and supplied crude oil in naira. Dangote appreciates the gesture and we appreciate him bringing down diesel price. There's no friction between Dangote and FG, it's only wailers looking for senseless and sensational headlines to begin the usual round of wailings.

You can't be engulfing a whole 20% stake and still wants to be spoon fed...
Nigga that's a foolish one if you think you will benefit from the stake as a common man.

5 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by IbrahimSkiba(f): 8:13pm On May 01
Racoon:
This is the utter economic cluelessness and Incompetency of a first class gbajue CSU certificate forger, druggie and bullion van parading fella that fraudulently gatecrashed into the national life of a nation.


Omo
Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Fr33born(m): 8:13pm On May 01
Reno Omokri right Now.









He will block his ears and keep waiting for Peter Obi's next post or interview to counter.

10 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by RillyBA: 8:13pm On May 01
Is it that we Nigerians are intentionally doing this? Subsidy is just for 6 month in 2023. Buhari has already removed it. So which one is tinubu tinubu. Let stop this hypocrisy and be real

1 Like

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Earthstorms(m): 8:14pm On May 01
MEEVEET:
The sad thing is we are still defending the naira

We are still paying subsidies ( but way of NNPC taking massive losses)

So what did Tinubu achieve by those ill planned policies?


You guys amaze me.

You are asking what Tinubu achieved with the naira devaluation. Don't you really know that the FG is making massive gains by the naira devaluation?

Let me explain.
1st once there is loser in any policy, know that there is a winner.

The devaluation negatively affected those who earn in naira and have expenses in foreign currency. The food industries like Dangote sugar that import sugar from foreign countries in dollars and sell locally in Naira are at the receiving end of the naira devaluation.

Those who earn in foreign currency and spend in naira gained greatly from the naira devaluation. That is where the gains of the FG comes in. They sell crude oil in dollars and pay workers salaries and contracts execution in naira.

When dollar was 460 naira to a dollar, export of 1 million dollar worth of crude oil will give the FG 460 million naira when the dollars is sold to Nigerians. That same 1 million dollars worth of crude oil will give the FG 1.4 billion naira after the naira has been devalued to 1400 naira to 1 dollar.

So the FG is getting almost 3 times the naira it used to get from the same volume of crude oil after the naira devaluation. So the FG is gaining massively from the naira devaluation while those who use imported goods and services are losing money because of the naira devaluation.

4 Likes 1 Share

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Zetty177x: 8:14pm On May 01
David160:
Slaves will soon attack him

Slaves wen hunger don kpeme? Never again they will give power to that tribe .

4 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Duru009(m): 8:14pm On May 01
I thought he is OBEDIENT..

CBN governor is the most confused man, always talking from two sides....

3 Likes

Re: Biggest Mess Created In 2023 Was Naira Devaluation From N460 To N1,400-Dangote by Monday60655(m): 8:14pm On May 01
They will soon attack him and call him Obidient or IPOB.

6 Likes

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