Stalwert:


It is stated in the op that it is a grant, sad many educated illiterates are tagging it a loan

They need to publish the details of the loan and stop the guessing game. Its been in the news these past weeks that Nigerian government are shopping for loan from IMF, world bank and other funding institutions. It will be naive to just believe that we're getting this grant with no strings attached. What are the strings attached?

As a government, you cannot just keep racking up loans upon loans for upcoming generations with nothingto show for it. Or continue to get Grant's with conditions that continues to bankrupt the entire nation.

Is this a grant or loan to be paid back?

Interesting

This initiative will only be implemented in the northern part of the country, just like their policy on funds transfer to the most vulnerable.

Very interesting. Would developed economies including; United states, France, Spain, Italy and other major battered economies allow China access to their equity market at knocked down prices? Most especially, very strategic companies within their economy. If not, how would they spin these decisions?

Let's see how this movie unfolds.

RisenPhoenix:
Devaluation of the Naira is a good way for us to step up our exports, because our goods and services will be cheaper to foreign nations. Unfortunately, rather than search for goods we can produce for export and learn about what standards we need to uphold and how to maintain those standards to make our exports attractive, my people will lie down on the floor and start wailing and throwing tantrums; waiting for government to come and spoon feed them.

If this is accurate, why is it that our export to other countries has not triple or quadruple in the past, ever since we started devaluation of naira? Devaluation will not increase our export, it will only inflict more pains and compound our economic problems. Higher inflation, higher interest rates, lost of production economy

Cheaper export and other production comparable advantage will happen when we fix other factors that affect production (excluding cheap labor, cheaper currency). High cost of diesel, electricity, high cost of funding, transportation, double taxation, high security
cost and other factors. If we do not fix and improve on these factors, export of Nigerian goods remains a mirage.

Is naira devaluation part of Senate responsibilities? I thought this is part of cbn mandate. Why not allow cbn to do their job, considering their independence. Are people now lobbying our Senate to achieve this? This is not good.

I don't have any problem with removing subsidy, it's way overdue.

budaatum:
This is the time to free float our currency and be rid of the parallel market. It might hit 1k but will find its level in the end which would be good, imo, but Naijans won't like the shock.

Can you please share with us some of the expected benefits of free float naira? Kindly highlight short term long term benefits in your opinion.

LuciusX:
And I believe you agree with me that the only way to manage these monsters is banning them. ¿Innit?

I don't subscribe to the idea of banning religion. Religion has its pros and con. I believe with good leadership, we can tease out and expouse on the great benefits of religion while taming the negative side of it. It happened in Singapore under Lee Kwan yew

Let's go back to the regional form of governance; North, Southwest and Southeast. During this era, Nigeria experienced higher economic growth, improved political dynamysm, better economic management, tribal and religious cohesion, competition, higher agricultural throughput, better accountability and transparency, loeer inflation, higher cost cutting from governance operations and other progressive measures.

We have 2 major problems in this country, religious and tribal problem. These 2 problems cascade down to one problem, leadership. By dividing this country back into 3 governing circles, and creating a befitting leadership that will manage those 2 monsters called religion and ethnicity. We might just be on our way to one of the best economy in the world.

Very inspiring

This is wrong in all ramifications. Tradition should not be toyed with, and should be separated from politics. If a king cannot go through the expected tradition, why not leave the kingship alone. You cannot choose which tradition to obey and which one to ignore while enjoying all the praises and accolades that comes with the throne.

Interesting

On one hand, Peterside castigate low interest rate, project devaluation of naira while canvassing for lowering inflation to less than 5%. How do you achieve lowering inflation when you have a threat of devaluation?

While I agree with Peterside on lowering inflation. I disagree with a lot of Nigerians such as Peterside who only see the problem. what's stopping him from taking it further and proffering solution on how to achieve the objective of low inflation?

If the news of ongoing propaganda on Naira devaluation is to go by, then it's too premature to celebrate biggest economy in Africa.

Let's ensure this propaganda does not become reality. Because If it does...it means Nigeria's economic woes will unravel again, 2015/2016 all over. Unstable economy, high inflation, high interest rate, loss of manufacturing system, increase in unemployment, and other economic problems.

Say no to Naira devaluation

Devaluation is not the answer, not now and never. When we devalue our currency; it leads to high inflation, high interest rate, low Naira purchasing power, reduced per capital income, economic instability, ... The results of these are;

1. The poor will get poorer based on reduced purchasing power of Nigerian earners and also due to inflationary repercussions.
2. Nigerians will continue to lose brick and mortar foreign direct investment, will only attract short term portfolios investment that's not in the best interest of our economy. Foreign companies will invest in countries with increasing per capital income.
3. Nigeria will pay more for dollar denominated debt. Currently, Nigeria spends more than 20% of the budget to service debt annually. Devaluation will increase this number northward of 30 - 40% of our budget overnight.
4. Devaluation will continue to de-industrialize Nigeria. Manufacturing economy will remain only a mirage. High cost of funding, high inflation and overall unpredictable economic environment threatens general viability of all long term investments.
5. Nigerians will pay more for general trade; overseas trip, medical tourism, international students,
6. Devaluation of naira will continue to weaken our voice on a global scale. African Countries with better currency, higher per capital income and better economic viability will always attract investments and other opportunities over Nigeria. Hence, they will continue to be the voice based on their economic advantages. Reason why South Africa is the voice of Africa and not Nigeria.

I know some people; countries, hedge funds, unscrupulous Nigerians, are hell bent on crippling Nigerian economy and devaluation has always been the go to script to achieve that. The same script keeps playing out over and over since 1986 when Babangida instituted Structural Adjustment Programs (SAP). It always start with "low tone" local media propaganda such as this: to gain support locally, to encourage people to circulate their propaganda, to force panic attack on naira. Followed by "loud" international media propaganda where IMF, World Bank, CNN, Bloomberg, Forbes and others push for this sinister coup to force the hand of our government to devalue.

While I am not absolving our government of complicity. The high spate of insecurity, profligacy, nepotism, political risks, and other factors contribute to our position. But, these same factors and problems exist in Britain currently due to "Brexit". Why is the "pound sterling" waxing stronger everyday?


Say no to naira devaluation. It is not good for our economy, not good for our citizens and it is not good for our upcoming generations.

Very inspiring, thank you Mr. Vice president

Typical political response...kill the messenger, hide the message. What exactly have they achieved since their appointments, to justify their continous stay in office? Fowler was removed because he didn't perform, as stated by the executive. The same logic should apply to these service chiefs as well. They are yet to perform after 5 years of appointment, so there's no reason for their continous stay in office.

Ebami so fun sisi yen komailo o

May the soul of this legend rest in perfect peace

This is commendable. I hope other part of the north key into this, and implement other penalties for parents who refuse to educate their children.

Adeola Odutola

naptu2:
1) Compressed Natural Gas is actually cleaner than petrol, so it's good for the environment.

2) Nigeria has much more natural gas than crude oil, in other words, we have more gas than petrol.

But there's a problem.


If you check my posts above, you'll notice that this is not a new idea. This issue has been talked about from time to time since the 1980s.

The issue is, who is going to convert the cars from petrol burning cars into compressed natural gas burning cars? Who is going to provide the filling stations?

These are the questions and unfortunately they have not been answered in this write up.

Exactly my sentiment. How many vehicles in Nigeria are designed to run on compressed natural gas? How would citizens take advantage of cheaper alternative when they don't have such vehicles? Do we now ditch our current vehicles and buy compressed natural gas vehicles? What's really the message here.

The only good news is the passing of the PIB, long overdue. Hopefully, the timeline as stated by the minister will be realized this time.

Interesting

Are these people thinking about the fx risks associated with these international loans? The translation fx risk and associated crippling effects are real. It is the reason why our interest payments has ballooned in the past 5 years with less borrowing.

If we don't curtail all these excess borrowing, these foreign institutions will end up owning most of our great assets and will continue to dictate the direction of our economy

Scared tactics. This is 2019, common you guys can do better

Just my sentiments. We all know the Buhari of yester years. Lots of decisions has been made without leadership thoughtfulness. Nigerians keep wondering who made these decisions? Who were the advisers? Were these decisions passed through Buhari? What is going?

Would be nice to get their CV, so that we can be the judge of their character, experience and professionalism.

Ridiculous. What is Nigeria turning into? How can you accuse someone based on word of mouth, without any evidence. And our media system just accept this information, run with it without any investigation. They write their propaganda citing assumptions of "Timi Frank's APC network".

Eagerly anticipating a progress with Timi Frank and his PDP cohort, backing this libel with cogent evidence.

Interesting

Interesting

Sowore is Africa's next Mandela.

Action speaks louder than words. United Nigeria premised on religion and tribe are very fundamental to making Nigeria great again. Let government fix these fundamental issues with action, then we'll believe they mean business.

Great news