₦airaland Forum

kevapet:
The never ending tears. Sadly it's lasting 4 years OMG

While at that, I hope you and all your loved ones are immune from the suffering of the 4 years. A people in love with their oppressors under the guise of tribalism

Nigerians go hear am

These guys actually believe they can fool everyone... Jokers

No surprises... very predictable after he hailed Tinubu as best president. Corruption continues unabated under these criminals.

https://metrowatchxtra.com/2023/06/17/tinubu-ll-be-best-president-nigeria-ever-had-says-matawalle-metrowatch/

GoodBoi1:
Fuel subsidy gone , now increase in electricity tariff. Okay o, let us see how much Nigerians can bear

Nigerians are in love with their oppressors. Doubt me?, look around you .... if you are nice to a Nigerian, he calls you mumu while they refer to the mean men as strong men

Before we all get carried away with the media propaganda, here are the summary of Tinubu's government to date:

1. Fuel subsidy is removed and you will buy fuel for 500 to 900naira per liter (depending on the exchange rate). The savings will be looted like that of kerosene and diesel. There will be no commensurate succor/ palliative for your suffering. Instead of going after the subsidy thieves and stopping the smuggling across boarders, they have transferred the responsibility to the helpless Nigerian people.

2. Naira has been devalued (though they call it floating). The FG has handed over the exchange to the market forces where speculators and banks are king. Naira continues to fall in the I/E and parallel market. Anybody who tells you Naira will appreciate is a joker, for a corrupt country like ours, the banks and speculators are the new cabal and will drive the rates how they deem fit. Don’t believe…. Just observe. What most don’t get now is that CBN now has no obligation to provide FX at a particular rate to the market, as such the new FG players can access FX from CBN without noise.

3. FG funding for tertiary education has been removed. Students will pay upwards of 400K tuition fee starting next session. A lot of students will drop out and cannot complete their education anymore. The so-called student loan will be almost impossible for an average student without connection to access. Guess what happens to the savings from this funding…. To be looted by the same people who have impoverished the nation.

4. Electricity tariff have been increased (without increased production) and will take effect from July 1st. This is a death knell to small and medium scale businesses. You are now stuck between the devil (PMS at 550naira per liter) and the blue sea (extra expensive electricity tariff).

5. All the FG has done so far is abandon almost all responsibilities it has over the people through the bills being signed since May 29. All Tinubu has done is to make available funds to be shared by him and his goons at the expense of the people. Not a single bill or action aimed at ameliorating the suffering of the already downcast Nigerian people rather adding to the pain in the guise of elitist policies

6. Guess what…. None of these policies have any impact on the political class and they have not made a single sacrifice. Same old political criminals are back in power, Gbaja, Akume, Asari Dokubo etc and you expect any real change apart from increased suffering?. How do you expect Tinubu to pay back the these same criminals who supported him into power?

Nigerians…. Suffer no dey tire una?

Tinubu want to kill Nigerians with elitist policies. That is what matters now beyond Bulkachuwa matter.

No Tinubu policy have affected the political class, the masses have been on the receiving end of all the moves. Let the Poor breath

Nigeria is gone .... worse things have been done unsaid. Worse is still ongoing as we speak.

However, some day .... all these issues will converge when Nigerians will need to fight for their lives or die uselessly

Labour must not sell out at this time. This Political criminals should not transfer the responsibilities of their inefficiency to the Nigerian people.

1. 50% subsidy removal followed by going after subsidy thieves and closing out boarders to stop outgoing refined products to neighbouring countries. Final subsidy removal after dangote and other refineries come on stream and the power sector is fixed.

2. No need floating the exchange rate. Remove the FX restrictions, slightly devalue the naira and bridge the gap between official and parallel rates

3. No need taking away the funding for tertiary education. FG can get involved directly in improving standard of education without transferring the burden to the masses.

Any government that has the masses at heart has options to explore

DevilsEqual:
The op said thats what Obi also intended to do...He called BAT a copycat

So, since that was Obi's initial intention, its safe to agree that Obi too would have singed Anti-human bills and put the masses up for suffering....is Obi not also wicked like that?

The devil is in the details

1. 50% subsidy removal followed by going after subsidy thieves and closing out bothers to outgoing refined products. Final subsidy removal after dangote and other refineries come on stream.

2. No need floating the exchange rate. Remove the FX restrictions, slightly devalue the naira and bridge the gap between official and parallel rates

3. No need taking away the funding for tertiary education. FG can get involved directly in improving standard of education without transferring the burden to the masses.

Any government that has the masses at heart has options to explore

Knee jerk moves with short term effect. A nation with a balance of trade deficit cannot afford to float its currency in a jackal infested free market.

All Tinubu policies have been anti-people. None of his moves have been aimed at helping the poor masses.

No policy have impacted or affected the political class. Only the masses are at the receiving end.

And the current FG is bent on increasing that number

Fuel subsidy removed ..... savings to be looted like that of kerosene and diesel
Electricity tariff to be increased July 1 ...... death to small and medium scale businesses
Funding of tertiary education stopped ...... many youths to drop out of school
Naira further devalued ..... USD to hit 1000 naira to USD in few months

The only constant, is that the looting continues for the political class. Tinubu already created the largesse by all the new policies and supposed savings.

It only matters to lazy and unfulfilled people. No one had an input to their ethnicity and religion, Fate already decided that for you.

The fact that politicians could exploit that in Nigerian to loot the common wealth shows how shallow the average Nigerian is

All these distractions won’t cut it.

Nigerian need policies to help their sorry state. All these elitist policies aimed at impoverishing the people further are pure evil.

Not certain yet

It’s the same old thieves returning to finish off the masses.

They’ve taken away the fuel subsidy and funding for education. Now they have a largesse to feast on while the Nigerian people hail the elitist policies and wallow in more suffering

1. Fuel subsidy is removed and you will buy fuel for 500 to 900naira per liter (depending on the exchange rate). The savings will be looted like that of kerosene and diesel. There will be no commensurate succor/ palliative for your suffering. Instead of going after the subsidy thieves and stopping the smuggling across boarders, they have transferred the responsibility to the helpless Nigerian people.

2. Naira has been devalued (though they call it floating). The FG has handed over the exchange to the market forces where speculators and banks are king. Naira continues to fall in the I/E and parallel market. Anybody who tells you Naira will appreciate is a joker, for a corrupt country like ours, the banks and speculators are the new cabal and will drive the rates how they deem fit. Don’t believe…. Just observe. What most don’t get now is that CBN now has no obligation to provide FX at a particular rate to the market, a such the new FG players can access FX from CBN without noise.

3. FG funding for tertiary education has been removed. Students will pay upwards of 400K tuition fee starting next session. A lot of students will drop out and cannot complete their education anymore. The so-called student loan will be almost impossible for an average student without connection to access. Guess what happens to the savings from this funding…. To b looted by the same people who have impoverished the nation.

4. All the FG has done so far is abandon almost all responsibilities it has over the people through the bills being signed since May 29. All Tinubu has done is to make available funds to be shared by him and his goons at the expense of the people. Not a single bill or action aimed at ameliorating the suffering of the already downcast Nigerian people rather adding to the pain in the guise of elitist policies

5. Guess what…. Same old political criminals are back in power, Gbaja, Akume, Asari Dokubo etc and you expect any real change apart from increased suffering?. How do you expect Tinubu to pay back the these same criminals who supported him into power?

Before you all get carried away with the media propaganda associated with this FG, here are the actions to date and how it affects you (you might not feel the impact immediately but its gonna sting soon)

1. Fuel subsidy is removed and you will buy fuel for 500 to 900naira per liter (depending on the exchange rate). The savings will be looted like that of kerosene and diesel. There will be no commensurate succor/ palliative for your suffering. Instead of going after the subsidy thieves and stopping the smuggling across boarders, they have transferred the responsibility to the helpless Nigerian people.

2. Naira has been devalued (though they call it floating). The FG has handed over the exchange to the market forces where speculators and banks are king. Naira continues to fall in the I/E and parallel market. Anybody who tells you Naira will appreciate is a joker, for a corrupt country like ours, the banks and speculators are the new cabal and will drive the rates how they deem fit. Don’t believe…. Just observe. What most don’t get now is that CBN now has no obligation to provide FX at a particular rate to the market, a such the new FG players can access FX from CBN without noise.

3. FG funding for tertiary education has been removed. Students will pay upwards of 400K tuition fee starting next session. A lot of students will drop out and cannot complete their education anymore. The so-called student loan will be almost impossible for an average student without connection to access. Guess what happens to the savings from this funding…. To b looted by the same people who have impoverished the nation.

4. All the FG has done so far is abandon almost all responsibilities it has over the people through the bills being signed since May 29. All Tinubu has done is to make available funds to be shared by him and his goons at the expense of the people. Not a single bill or action aimed at ameliorating the suffering of the already downcast Nigerian people rather adding to the pain in the guise of elitist policies

5. Guess what…. Same old political criminals are back in power, Gbaja, Akume, Asari Dokubo etc and you expect any real change apart from increased suffering?. How do you expect Tinubu to pay back the these same criminals who supported him into power?

Nigerians…. Suffer no dey tire una?

Before you all get carried away with the media propaganda associated with this FG, here are the actions to date and how it affects you (you might not feel the impact immediately but its gonna sting soon)

1. Fuel subsidy is removed and you will buy fuel for 500 to 900naira per liter (depending on the exchange rate). The savings will be looted like that of kerosene and diesel. There will be no commensurate succor/ palliative for your suffering. Instead of going after the subsidy thieves and stopping the smuggling across boarders, they have transferred the responsibility to the helpless Nigerian people.

2. Naira has been devalued (though they call it floating). The FG has handed over the exchange to the market forces where speculators and banks are king. Naira continues to fall in the I/E and parallel market. Anybody who tells you Naira will appreciate is a joker, for a corrupt country like ours, the banks and speculators are the new cabal and will drive the rates how they deem fit. Don’t believe…. Just observe. What most don’t get now is that CBN now has no obligation to provide FX at a particular rate to the market, a such the new FG players can access FX from CBN without noise.

https://www.nairaland.com/7730320/goldman-sachs-naira-devaluation-not#123835682

3. FG funding for tertiary education has been removed. Students will pay upwards of 400K tuition fee starting next session. A lot of students will drop out and cannot complete their education anymore. The so-called student loan will be almost impossible for an average student without connection to access. Guess what happens to the savings from this funding…. To b looted by the same people who have impoverished the nation.

4. All the FG has done so far is abandon almost all responsibilities it has over the people through the bills being signed since May 29. All Tinubu has done is to make available funds to be shared by him and his goons at the expense of the people. Not a single bill or action aimed at ameliorating the suffering of the already downcast Nigerian people rather adding to the pain in the guise of elitist policies

5. Guess what…. Same old political criminals are back in power, Gbaja, Akume, Asari Dokubo etc and you expect any real change apart from increased suffering?. How do you expect Tinubu to pay back the these same criminals who supported him into power?

Nigerians…. Suffer no dey tire una?

Charlatans in Aso Rock

ok

Really?

tsdarkside:
look....if you as a nigerian need for example cloth from south africa,you pay in nairas....
if south africans need casava from nigeria for example they pay in rands....

There is something called balance of trade. Nigeria is in deficit because we demand more of what other nations have to offer than what we have to offer other nations.

I am trying to bring this understanding down to the lowest level for you... I hope you get it now. No nation will accept your currency (naira) if they cant use it to buy what you have to offer. Unfortunately, Nigeria does not have a lot to offer the world apart from crude oil which is traded in USD.

tsdarkside:
nairas....and we take their rands....

What does SA need our naira for?, SA will pay for a product we have to offer; that's why its called foreign exchange.
SA cant just take our naira and give you rands .... does that now make sense to you?

That is why USD is the preferred legal tender because its acceptable by most nations as means of exchange

Abufo:
There are legitimate demand for forex in the system like imports of raw materials and payment for school fees /services.....on the other hand you have demand for forex borne out of desire to siphon proceeds of corruption and embezzlement of public funds/ and worst is the fraudulent speculation on the dollar by banks and forex operators............if Tinubu is not ready to seize banking license of such banks..........then in less than 3 months the gap between the official and parallel rates will begin to widen again! A lot of forex demanded of CBN are cooked up by the banks!

The biggest pressure on the Naira itself is the astronomical rate of foreign borrowing by the federal government itself! If Tinubu likes let him not consult the service of people like Okonjo Iweala.........to start engaging Nigeria’s creditors!

I agree with you for the most part. My concern is Nigerians are very corrupt from the president to the new CBN governor to the guy on the street. Even the best intentions will be rubbished for selfish gain. I maintain that floating the naira is premature and will be exploited at the expense of the Nigerian people. CBN must take hold of the FX market.

Imagine if the banks and speculators conspire to cause a week scarcity of FX?, what leverage does the CBN have over them in a free floating naira market? What if the banks decide to sell at 900 naira?....We do not have an excess supply of USD to overwhelm demand.

tsdarkside:
it has to....
nations are startin to do this deals....

wake up....

Okay... best of luck with that. At the global scale, it is not feasible. Like I ask again, what will you offer SA for their rands?

tsdarkside:
who says you must use dollars to import stuffs....??
take the local currency of any nation that wants to do business with you....

why use dollars when you need something from south africa....??
take south african rands....

only do business with nations that accept nairas....

LOL... does not work that way. Who will exchange your naira for SA rands?, what are you selling to SA?
USD is the global legal tender for now....

tsdarkside:
you must criminalize black market....
infact even criminalize the use of dollars in nigeria....

Criminalizing everything wont take away FX demands. The demands are real because we are an import driven nation and very low on manufacturing. Black market aint going anywhere soon.

It can only settle at 600 if CBN floods the FX market with cheaper dollars. Unfortunately, nothing has changed with respect to our exports and USD inflow.

Even investors with their FDI will manipulate the market. The FX is now open to the manipulations of speculators and banks while CBN will play catch up without any defined fiscal control

tsdarkside:
thats why we have to criminalize it....
when people land in jail when caught,it will reduce....

thats the only way....

As long as CBN and banks cant meet the FX demands completely without hassles of Form A, M etc..... you cant do anything about the black market. The parallel market addresses the inefficiency of the banks.

CBN does not have sufficient FX to meet national demand and that is why floating rates was a bit premature