₦airaland Forum

SIONKPO1:
1 Dollar - N920
Fuel - N615/Litre
Crate of Egg - N3,500
A bag of cement - N5,200
A bag of pure water - N350
A bag of rice - N45,000

Transportation tripled.
Accommodation doubled.
No significant change in salaries, except for some bankers.

People have been managing to survive - taking loan from loan shark to sort the ones they took from another.

The survival threshold will soon break and when this happens the poor will have nothing left to eat but the rich.
Nigerians were warned about APC but allowed Ethnicity and Religion to blindfold their decision.
SHEGE-PRO MAX PLUS

This is about a bad structure that allows corruption blossom and not really APC.

Where are those supporting evil?
Grandstar, subsidy is gone but no local refining yet means importers of petrol too have to queue for dollar alongside other importers. This naturally drives demand for dollar up and thus its price and that of imported petrol. I told you, subsidy removal without local refining is just the beginning of turmoils.

Cultism is a tool for social engineering. Haven't you heard that before?

Oya switch accounts and start asking about how to japa to of course, USA and UK.

omohayek:
What is this claptrap about "Illegal remittances"? This is utter nonsense from an economic point of view, and solid evidence that this guy has no business staying in place a day longer than necessary. Remittances actually strengthen the Naira regardless of how they are conducted, as they represent demand for the currency. Nowadays, Nigeria actually gets more of its USD from remittances than it does from oil, and without them the . The only thing "illegal" about them is that Emefiele's greedy CBN tried to force Nigerians abroad to yield to an "official" exchange rate that effectively gave them half of what their money was really worth, and sadly this incompetent clown seems set on continuing this pig-headed policy meant to create a steady source of funds to siphon through arbitrage schemes like "round tripping". Any source of foreign exchange strengthens the domestic currency, no matter the route it flows through, just as any source of demand for tangible goods strengthens the bargaining position of those selling them.

As urgent as the Niger coup matter may be, Tinubu needs to act quickly to find a new permanent CBN governor who actually understands economics and is willing to sweep the CBN clean of all ignorant holdovers from the Emefiele era such this one. Until someone serious and confidence-inspiring is put in charge and given a free hand to clean shop, the Naira will continue to drop in value like a stone, as the status quo gives little confidence to markets that the root cause of Nigeria's ever-weakening currency - namely inflationary monetary policies - will be nipped in the bud. Enough of incompetents trying to shift blame to "AbokiFX" or "greedy [sic] bankers" for their own self-inflicted failures.

As usual, a malicious epistle.
So you know inflow of dollar irrespective of its source, strengthens the naira, yet allow potential dollar earners suffer under your beloved govt of Tinubu?
You still feel Emefiele trying to corner remittances at lower I&E is worse than this one, but they are, in principle, same measure of stupidity because black market to CBN, can't be officially recognized.
The CBN head is right to attempt to force bankers to sell at the lower I&E rate. He is under pressure and like Emefiele, needs to arrest the situation by wishing more people align to the I&E instead of the bigger black market.

ND oyel is gradually taking the backstage and to me, an advocate of resource control, is a good step in the right direction. Let fair conditions for businesses be opened up to allow even a casual wear maker or artisan chocolate maker earn forex directly. Medical tourism spots should be promoted so people with specific ailment can come to Nigeria and pay us willingly in exchange for services and not just kidnap ransoms. The CBN need to smell the coffee and stop pretending they manufacture dollars so must produce enough of it. They do not.

This is what those useless governors should be doing aggressively. Investments and industrial adaptation of the region.

Nice2023:
Sorry for the pains and sorrow.

Solsix:
Pains

I remember the pains and sorrows of ebonyi car park they called an airport too. Don't worry keep the delusion alive.

IconicR:
It's like you don't know me

you are an irredeemable clown.

IconicR:
Don't be unfortunate

tell your old witch to release your brain before threatening me with her powers. Animal.

Useless gesture. If the venture is truly appealing to Abia, why not go for a sizable stake in it.

immortalcrown:
They are guilty of every conceivable misconduct.

Their own demands are now treasonable to them. It shows how unprincipled and devilish they are.

IconicR:
These are posts moderators needs to be deleting. It's not everything you see you bring on social media platform. We have to protect the image of Nigeria to the outside world.

Idiotic suggestion.

Even if he had diverted it, his account would have been debited accordingly and placed on negative value of the N20m.
This is exactly how God will debit a lot of people on reconciliation day. This life is like a ledger system where one side/leg of the transactions are concealed somewhere in heaven.

If you do not know what reconciliation is, ask a good accountant to explain that to you.

State them.

What about payment of killers to stop killing?

Subsidy gone, not a litre locally refined, no prosecution for subsidy fraud but the man is talking about lack of tax being reason for past borrowings.

One dollar(US) now almost N1000.

Low export means low forex supply.

Congregation of ignoramuses.

Ibadanpikin:
You must give me that your dollar,because you can't breath without using my goods.

your fake goods.

grandstar:
Also, Nigerians do not want to pay for the true cost of the power generated.

If the Discos and Gencos can't recover cost, where will they find the funds to improve services.

Wale Edun, a ministerial nominee said the 1.6trillion electricity subsidy is not sustainable.

that he was nominated a ministamer doesn't make him smart.

Now we are paying petrol cost, how many commissioned refineries are outputting petrol? You ignore top level corruption to be churning out ignorant analysis. The refiners.

Ibadanpikin:
With the way everything is increasing starting from foods stuffs,transportation,tuition fees and now cooking gas about to increase,the owners of Nigeria should please help there poor ones.Igbos don't assist anybody that is not from your ethnicity,the are all rich but increase the price of your wares and goods.

you need dollar to import from us now...

Acekidc4:
It's Expected!! Are we not Oweing China too money Ni 🙄🙄
Nigeria too is a Serial Debtor so is nothing New.

lol...we are expert when it comes to playing the victim.

Recharge card money for our senate.

It is senseless to sum up the remainder.

WriterNig:
[color=black]🇷🇺 Russia have a history of building monster airplanes and ships. Everything about Russia is insanely large.[/color]

👍🏻 Like for Russia-Putin, share for USA/Nazi/NATO 卍

In this economy of N1000->1$, do whatever you can legelly to earn foreign currencies. Ride on Putin propagandist.

Benwallt:
Watin dey happen. I witnessed when dollars exchanged for paltry 1 hundred to 150 in this country. How can growth, technology and population surge bring so much disaster to a nation with abundance resources? It's baffling.

Growth without productivity is retrogression.
Technology not engaged doesn't produce results. Population that's entitled to tech gadgets but not growing in productivity is equally as disastrous.

Angelfrost:
I honestly can't believe people can compare another person's administration with Buhari's and give Buhari accolades...!

Jagaban needs to think and act faster, or just fvcking resign. This is deeply and insanely embarrassing.

He subtly blamed emefiele in the heat of naira redesign that they mismanaged the naira. Now he is there and has broken records. He failed due to stupid attitude of placing politics over solutions.

Ofunaofu:
One of the most foolish decision ever made by this calamitous Tinubu government is the exchange rate unification nonsense


Instead of putting measures in place to drag the parallel market exchange rate down from 750/dollar to meet the official exchange rate of 460/dollar, the government move the official exchange rate up to meet the parallel exchange rate masking it as exchange rate unification.


After he must have removed subsidy from petrol without any single local refining capacity


How did we get here as a Nation

the removal of subsidy without refineries means we still import fuel and still need dollars to do that. It was a foolish move to remove so many subsidies and within a short period.
That's why playing politics after getting go power is bad. He kept dishing out political moves and the whole thing was pleasant to him like normal politics. He saw himself as succeeding but only succeeded in
making the wrong moves.

rajiedreez:
If you do not attribute the previous reduction in price of gas to Tinubu please also don't attribute this increments to him

one of the factors affecting this increment is forex. Tinubu blamed emefiele for bad forex rate and bow it is getting worse under him, t is natural he shares the blame.

Change begins with you but emilokan...lol.