PressMyButton:
Dangote collected dollars at cheaper rates from Emefiele, we know all that but Dangote is still doing big things and we appreciate him for that and that's why he was appointed a member of Jagaban's economic team. However, every sensible individual knows we can't afford to keep official rate at 460 while parrallel rate at 780 with huge monthly subsidy, thereby making few unscrupulous elements overnight billionaires through dollar arbitrage at a time 97% of our revenue were used in servicing debts. Definately, we can't continue like that.

there was a time these analysis would make sense to some us, but since tinubu unbox and expose us to some of the policies we have seen it just a fruitless seed

Everytime we applaud a policy thinking it affects the rich, it turns out screw the poor class the most.

We can't continuing subsidizing for the poor cos few people are benefiting but our politicians can continue living there wastage of public funds on extravagant lifestyle

They tell the poor masses to sacrifice but nothing on the govt/politicians side depict they are ready to "manage"

All these BATist miscreants can never get sense

immortalcrown:
Pot calling kettle black.

oga keep quiet.you afonjas have made a mess of the country.rubbish

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.

Very intelligent comment..I want to like it a Quadrillion times.

It's a lie from pit of hell
They were not using foreign reserves to pay any debt that's what they use to sell dollars to BDC ppl

This stupid government thinks we're dumb

Rubbish

APC voters

May APC AND Nigeria happen to una 😡🤬

Where is Reno...?

Before the LegendHeros and FreeStuffs of Nairaland ask FEDERAL GOVERNMENT for arrest of Dangote.
Some people believe that federal government is one unanimous property of whoever is ontop to do any evil - no thought of any immediate or after effects.

Of course Nigeria is being ruled by the IMF,
Tinubu is just a figure head
That's just the bitter truth

Bliss4Lyfe:
All the dirty Afonnnjaaa will crawl out of their hole to call him IPOB now.

This yoruba site empowers them.

Very useless site I mean nairaland

Lol

Someone Buhari thief all NNPC dollars give free get mouth to talk.
Buhari's FG special dollar rate through the CBN and questionable loans from CBN to im e chop clean mouth. But now e get mouth to talk. Honestly, some wicked people are too heartless.

I refuse to belive we are still paying subsidies with all these nonsense economic woes.
If the president can't help his fellow citizens to progress, then he should at least return it to how he met it.

Is that too much to ask for?

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?

iwaeda:

Your god built Lagos, so let him continue his good work.

Lagos is hell. Small state full of haggard people existing

Ur defense is boring

Do you even know anything about exhange and devaluation?

PressMyButton:
Dangote collected dollars at cheaper rates from Emefiele, we know all that but Dangote is still doing big things and we appreciate him for that and that's why he was appointed a member of Jagaban's economic team. However, every sensible individual knows we can't afford to keep official rate at 460 while parrallel rate at 780 with huge monthly subsidy, thereby making few unscrupulous elements overnight billionaires through dollar arbitrage at a time 97% of our revenue were used in servicing debts. Definately, we can't continue like that.

When a capitalist is complaining it's no longer business as usual....

HugoBoss10:
Of course Nigeria is being ruled by the IMF,
Tinubu is just a figure head
That's just the bitter truth

The borrower is slave to the lender.

iwaeda:


Read Well between lines.

😂😂😂😂😂😂😂😂😂😂😂

Dangote can read the handwriting on the wall that Bola Tinubu wants to dethrone him as richest person in Nigeria and replace him with Tinubu's.


Abacha family and Dangote family are enemies.

Tinubu's camp are together with Abacha's boys, reason Dangote can no longer keep quiet.


I do not fancy Dangote's monopolistic business model enabled by successive corrupt Nigerian Presidents since the downfall of Abacha, neither do I like Tinubu's grab-all-and-run greedy attitude.


But then, Dangote said the truth but he is only voicing out because Tinubu removed food; subsidized FOREX from his mouth. And it is subsidized FOREX that Dangote was getting from CBN for decades that he round-trips that made him a billionaire, nothing more or less

olisaEze:
Govt that’ll favor them and their family in the mud!

You are sad ,but you still have a phone and data to post nonsense on twitter. Go back to your village if city life is putting you under pressure.

Foolish tinubu

PressMyButton:
Dangote collected dollars at cheaper rates from Emefiele, we know all that but Dangote is still doing big things and we appreciate him for that and that's why he was appointed a member of Jagaban's economic team. However, every sensible individual knows we can't afford to keep official rate at 460 while parrallel rate at 780 with huge monthly subsidy, thereby making few unscrupulous elements overnight billionaires through dollar arbitrage at a time 97% of our revenue were used in servicing debts. Definately, we can't continue like that.

It makes not sense let get the fundamentals right there would be shoter term pains but we need to repair this moribund economy

You don't understand! To be profitable, Dangote needs to sell fuel at N1400/lit. If the government had not devaluate, selling at 600/liter would have been profitable

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.

Agbadorians won't agree with this ever

Earthstorms:


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.

You're not smart.
For a heavily import dependent state like Nigeria, devaluation does not favour anybody.

In fact, they'll be a massive trade deficit when the FG audits it's account at the end of the day.

Stop looking at short term gains.

He is a thief, when he is buying dollars @ official rate with cronies and dollar is 800/900 in black-market. Him and Emefiele ripping Nigerians

I am just coming from a particular online social medium where the majority have refused to be honest with themselves about the realities of our economy today.

I have one honest question.

Can someone tell me one thing that Nigeria has achieved after one year in this administration?

That was a really huge blow for businesses

Imagine expenses tripling and income wants to remain same

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.

If it's true what you said that Nigeria only has 20% stake in the refinery, then dangote really cheated Nigeria. or rather let me say the past admin was either over corrupt or over stupid.

Dangote is an IPOB miscreant, just because Obi lost election, he's being against a wonderful policy made by Tinubu.

PressMyButton:

He's actually talking about business valuation which has affected his networth and which would futher improve once his refinery begins full operations and naira continues gaining.

oh wow
you are now explaining for dangote.

you guys cannot be redeemed, lost cause, sorry oo

PressMyButton:

He's actually talking about business valuation which has affected his networth and which would futher improve once his refinery begins full operations and naira continues gaining.

You guys don't understand economics. You don't know how worthless the naira is at the moment. Dangote refinery can't sustain the naira. Don't forget he is buying the crude from United States which makes it alot harder for him to recover the money he invested on building the the refinery. You really underestimate the problem Nigeria is facing at the moment.

Word!

immortalcrown:
Pot calling kettle black.

He himself is holding the same Nigeria down. He is complaining now because BAT is not in his own camp and because BAT tortures his boy Emefiele. Have you guys forgotten how cheap he got Dollars from CBN through his boy Emefiele? Have you guys forgotten the tax waiver he enjoys?

The Naira devaluation is stupid. I am not among the vrchins that defend the devaluation. But only a fool will think this man is better than BAT. Taking solace in this man's condemnation of the devaluation is like taking solace in Buhari's condemnation of BAT.