₦airaland Forum

Shonubi has just removed the rug from under the feet of his employer.

The week Tinubu made the pronouncement of currency liberalisation, he specifically spoke on the unification of exchange rates between the open market and the official FX window. He sounded so cock-screw certain of the terminologies he was reeling out that his minions were applauding with gusto.

Couple of weeks down the line, the disparity in rates between the open market and the FX window is spiralling out of control to the point these clueless people are already dipping hands into the external reserve just to keep up with the FX demands of the market. So, not only are prices of basic necessities blowing through the roof, our reserves have lost over a billion dollars in the space of 2 months.

You cannot seek to put control over the spread or usage of a currency you do not produce, especially in an economy that depends on that very currency. I am not an economist from Chicago University, neither am I in an acting capacity at the CBN, but I have the intelligence to read and study situations and the common sense to acknowledge the truth of a situation.

If the Nigerian economy doesn't crumble in six months, going along this particular trajectory, then I'll know my education was a waste.

emmy512:
Let tinubu breathe

Do this people actually think the courts will grant them a rerun?
That's another cost that I'm sure is not on inecs budget

INEC has never had money to fund their budgets. Our elections are funded from proceeds of our taxes. So if the matter culminates to an election re-run, it would be funded with our taxes.

Shonubi has just removed the rug from under the feet of his employer.

The week Tinubu made the pronouncement of currency liberalisation, he specifically spoke on the unification of exchange rates between the open market and the official FX window. He sounded so cock-screw certain of the terminologies he was reeling out that his minions were applauding with gusto.

Couple of weeks down the line, the disparity in rates between the open market and the FX window is spiralling out of control to the point these clueless people are already dipping hands into the external reserve just to keep up with the FX demands of the market. So, not only are prices of basic necessities blowing through the roof, our reserves have lost over a billion dollars in the space of 2 months.

You cannot seek to put control over the spread or usage of a currency you do not produce, especially in an economy that depends on that very currency. I am not an economist from Chicago University, neither am I in an acting capacity at the CBN, but I have the intelligence to read and study situations and the common sense to acknowledge the truth of a situation.

If the Nigerian economy doesn't crumble in six months, going along this particular trajectory, then I'll know my education was a waste.

HIGHESTPOPORI:
We would not suffer with Tinubu supporters,they should suffer alone

Thank you for the correction. They should suffer alone..

Elections are over, people are currently lamenting and dying from hunger and you're still campaigning for Tinubu with stupid analyses.

obyno82:
Are you resident in Lagos?

Yes.
And I pay my waste disposal revenue without complaints. Whoever sees the need to live and do business in Lagos, should do same.

No South Southerner should participate in any stupid protest.

We all must wake up and learn to use our brains in this country. Since tribe and religion mattered more to APC supporters, we'll suffer together!

Person wey dey hungry no go get strength even give 10 days ultimatum. Arewa still dey cruise.

Buhari's government largely favoured the Hausas, fulanis and Yorubas, so the remaining Nigerian tribes spent those 8years adapting to harsh economic policies. When elections came, those privileged folks opted to vote along tribal and religious lines cause they were walking around with full bellies. Now that their Iragbiji economist has removed the false blanket of comfort from their faces and reduced the meals going into their mouths, it is time for them to wake up to the Nigerian reality that the rest of us have already adapted to.

nairalanda1:
I stopped listening when the guy stated that 'NNPC had not paid subsidy to anybody'

That made me know that the argument was going to be flawed from the word go.

From 2016, what was happening....was that NNPC was

1.Made the sole importer of fuel

2.Had to import fuel at the landing price X

3.And then sell to depots at the price Y which was below price X.

4. As a result, NNPC was running at a loss, and NNPC was as a result being paid a subsidy to not run at a loss.


Marketers on the other hand were allowed to buy petrol at price A from depots and sell at price B, which was higher than price A and set by the government.

I know people want petrol prices to fall down again, but the argument being used is poor. Marketers were not being paid subsidy from 2016 by government or NNPC, because NNPC was itself subsidising fuel on behalf of the government, and being paid a subsidy not to collapse.

(I do not work for NNPC, or the government, and have supported subsidy removal since 2012. I also do not like APC, PDP, or LP and wish they all got voted out for Nigeria's benefit).

Did you watch the video to the end?

Why are they complaining?

They either pay the revised rate or return to their respective villages. Lagos is a cosmopolitan city that isn't meant for every Tom, Dick and Harry. The development of our beloved city is predicated upon taxes and revenues and we the proper Lagosians are not complaining..

nedu666:
Just watch and observe the following
1. This thread will not exceed page 2 because it's not ipob

2. The military spokesman will deny it

3. Army will do nothing other than give orders to fish out the suspect which means nothing

4. Professors, historians, wailers and moaners on lgbo matters will stay clear of this thread, you will not see hiel-anus, seunmsg, leoking, omenka, naptu2 trying to outdo each other in creating multiple threads

5. Okoroawausa will soon start shouting whatabousim.

6. You will not see those that only remember insecurity when it happens in the east

The death of ugwu leaves in the east is more important than the lives of 1 million other Nigerians

You my friend, are a humorous and keen observer.

The terrorism in the North East is government sponsored.

Starcrest1:
The guy is sub human look at his moniker.

It's probably him and other cromagnons around him that are lazy......

I cannot believe anyone in his right frame of mind would describe Nigerians as being lazy. It's beyond ridiculous.

helinues:
It's a waste of precious time to read long bunkum epistle



Farooq self don dey behave like Patrick Obahiagbon. How person go pronounce this Sadomasochistic without teeth removal?

You cannot be informed if you lack the patience to read. It's a wonder how you often feel enlightened enough to even have opinions on issues.

Perhaps if Farooq Kperogi had written "Up Jagaban Borgu" and duplicated it into a hundred lines, you'd have been smiling sheepishly with an orgasmic release of pent-up energy..

Nigerians, una no dey ever learn!
Haba!

So someone can boldly still project and campaign for Timipre Sylva? Really?

Children of the corn collecting woto-woto on all fronts. Even celebrities are not left out.

arcis:
Rufai is an idiot, so you want all his promises to manifest in 3 months abi..Rufai, time will tell..I challenge you to contest for any elective post and be elected. I dear you to turn around things in less than a year.

Rufai is just a noise maker with frog brain...

Useless guy..always criticize without any suggestions..

Did you watch the video?

Birdbyrde440:
Such brash fellow.
How do you know who a person voted for?
Abi na you wey bin no ft defend your vote?
Such weaklings you allowed them to bully you.

Well, we can well see who the weak ones are now, can't we?

The protests and lamentations have begun from market women in the North, down to their men creating threads on nairaland, wailing expressly on their growing inability to stay afloat.

Now if that's not weakness, I wonder what else is.

Cromagnon:
very
Get a dictionary

What a stunning assertion! I sincerely have no words to describe how dazed I am.

oikirodah:
mugu

See the imbecilic cretin!

He's only ever seen or heard when there's the ample room to sing the novel praises of corrupt politicians, only so he can be afforded express access to crumbs off their tables.

What's most repulsive is his preconceived delusions of oratory proficiency. This CEO wanna-be relishes every opportunity to muddle our screens with his garbage-like renditions of elementary narratives that hurt the senses more than they appeal to the mind.

You'll do better at owning a tomato farm than sitting down to words that are never compelling or captivating. Better yet, explore the possibility of a career in the clowning business. You'll fit right in!

Cromagnon:

True
wrong, we're starving cos we lazy waiting for awoof from govt


How many poor in capitalist countries do you see starving that are not lazy
name one mixed economy that is not poor

Did you actually just suggest that Nigerians are lazy?

Cabalgeneral:
Asari dokubo naa Igbo mate or have you forgotten when he called Igbo Ijaw.

You sound like someone on the wrong strain of weed.

What's the correlation of the Igbo tribe to the content of this thread and my first comment to it?

Demayour:
The Bible says "the way of peace, they know not"


How then can they allow you to have peace? Christians are meant to be persecuted since Jesus said so already. And no matter how calm and collected they are, some people will still persecute them.


The same way some religions are fundamentally built on violence, some others spread through persecution. Christianity spreads because of persecution.

It's too early in the day for this nonsense please.
Take your unsolicited natterings of gospel inanities elsewhere.

Muslims will wake up and claim persecution, Christians will sleep with the same nonsensical talks in their mouths, and at the end of the day, everyone just wants to be heard and strongly considered as being on the path of right. Ironically, all religions fight to enthrone their own version of the right "God" yet all religions agree on one version of the right "Devil".

Y'all need help! Extremism is going to turn this world inside out, so we all can permanently find rest.

Nigerian youths are unapologetic ignoramuses!

For a country that is struggling to attract direct foreign investments in order to shore up the economy and put our dwindling revenues back on the right footing, our executive government is trampling on the rule of law with wanton recklessness, making nonsense of court orders and using security agencies to hound citizens and settle personal vendetta, and you stupid lots are here applauding them.

No sane investors from anywhere in the world will take his business to a country that doesn't obey something as important as court orders. We were all here sometime last year when Emirates Airlines shut down operations for sometime in this country because they were having difficulties repatriating their profits from banks and all legal avenues they followed were hitting brick walls.

You people talk and reason like misfits, then come back tomorrow to lament when the repercusions begin to manifest.

FairlyUSEDpussy:
Why is both Ukraine and Russia always promising Africa jux grains??

Them don see us finish na.
Na food we come this life to come chop.

Racoon:
Thought this propagandist was the same person overhyping a man who fraudulently find himself in power as the man with the midas touch? What have happened again?

Don't mind the clown!

Osigwe is simply trying to find relevance amongst this crop of thieving politicians, with his disjointed, repulsive and poorly written, gutter-like articles.

Low budget Farooq Kperogi!

All these religions should just rest and let us have peace for the love of God!

Cabalgeneral:
Asari dokubo naa Igbo mate

Are you trying to sound funny?

adebayo987:
If the price is supposed to be determined by market forces, who then is increasing it? Nigerians are the only species that can be deceived and they follow blindly. Someone will increase petrol pump price and the same person will come and tell you that the price is being determined by market forces, then you'll see people believing it. Agbabu clap for yourself!

As long as the dollar keeps gaining against the naira, the price of fuel is going to keep increasing. There are no two ways about it, and that is the simple arithmetic. This one has nothing to do with corruption or magic.

We don't produce our fuel. We import all of it. Dollars and pounds are needed to pay for the fuel in those foreign countries marketers buy from. No marketer will access dollars at 860naira and pay for fuel, factor in all his freight and shipping expenses, then bring that fuel back here and sell at a loss just to please you. No be your ancestors give am money to take do business.

Did the legal department not subject the new logo to proper checks before letting the company brandish it?

Some things are easily avoidable.

Godwin4444:
typical igbo

Don't forget to have your corn once the day breaks..