₦airaland Forum

Gboss247:
The idea of free market is an illusion. The Nigerian forex market is controlled by the CBN.
The CBN has restricted the naira from appreciated to it's real value.
Earlier this year, the CBN usually release dollars into the market is the official rates nears ₦1,400/$ and buys off dollars if the exchange crosses ₦1,350/$ to like ₦1,330/$.

Image123:
Stated by who? It’s a free market. Let the naira discover itself. CBN will play its role of oversight and balance, not discovery or maintenance.

Kukutente23:
So how come the purchasing power of civil servants and workers generally increased when OBJ increased minimum wage from 750 to 3500 over 500% increase which led to creation of the virile middle class we had then

Lifediary:
Nigeria has a national oil company, so why hasn't it generated benefits comparable to Saudi Aramco?... CORRUPTION!

Mediocres are celebrating Dangote.

Nigeria has not created the governance and accountability mechanisms necessary to make a our state-owned oil company (NNPCL) operate like a serious commercial enterprise.

Nigeria has not been able to make NNPCL operate with the commercial discipline, transparency and efficiency necessary to convert enormous oil resources into comparable national wealth?

WHY?... CORRUPTION on the part of the government.

Charlatans are celebrating a private, capitalist business. Smh!

Luckysbab:
There's already hyperinflation. I see no reason why the minimum wage shouldn't be inflated to catch up with it.

Dalohad:
GTBank and EcoBank, hope you are not involved in this shenanigans?

XtremeConsumer:
They are greedy. Most times they will tell you they don't have dollars to give.

They should grant licence to play to run form account abeg.

Joelinton:
I do not support banks to hurd foreign currency but CBN should also try and supply enough forex to the banks too.

skultrick:
I thought as much...they said that dollar is now available but anytime you go to UBA they will say they don't have USD...unless you can collect $20 or $50 bills...

The other day they said no USD but right there I saw another staff counting over $10k...I told the guy attending to me BUT is that not USD I am seeing...he said its not he's...

Image123:
Simple. Minimum wage is for a minority, but the negative inflation that follows is for all.
As for removal of forex and petrol subsidies, it was agreed by every major party and every educated person prior to removal. Clear reason, it wasn't affordable or sustainable. Any real questions?

princeayito:
Minimum wage by law is to be increased every four years, irrespective of inflation or not.

Kukutente23:
How does someone who supports massive devaluation of his currency and subsidy removal
suddenly have a problem with inflation when it comes to minimum wage which will increase purchasing power and disposable income of the populace who have been bearing the brunt of the inflation?
What kind of twisted mindset is this?

Luckysbab:
To all those arguing against an increase in the minimum wage, citing attendant hyperinflation and all that, I think you'll need to bring a better argument.

Abi fuel price wey dey increase weekly, na minimum wage increase cause am?

dauntless15:
Why would i wait that long for such chicken change, they're making more profit holding your money for 90days then give you the crumbs, i rather trade futures with it.

ResearchHedge22:
They keep spewing trash...make them kuku deh pay Nigerian workers in dollars and pounds, so that we will be buying petrol at comparable rates with the U.K and the U.S.

obeegee:
Should be higher to be honest

But as wages rise, costs of everything (transport, housing, food, fuel) will also adjust higher.

completeskills:
That is where you are getting it wrong. Airtel does all the hardwork. They pay Airtel a fixed amount to use their equipment thereby reducing Their own overhead. It is a model they use in over 10 countries. If it was not profitable to them they won't expand into other countries including Nigeria.

completeskills:
I won't argue with you but I will tell you one thing. Ignorance is bliss.
Also know that I can be your tenant and earn alot more than you since you want to use the landlord /tenant scenario to compare a wholly different scenario.

completeskills:
I totally understand that but it is also an advantage to them because they pay less maintenance fee on infrastructures compare to the actual owners. Network wise..they can only have as wide a coverage as their network backbone carrier but Try making a 5mins call to Nigeria from the UK using Lebara and try same with 02, 3 ,Vodafone or other major network. Then compare the cost. You will understand what I mean

Ventura1:
They should do unlimited data plan for 10k and see themselves overtaking both Airtel and Glo

Pythagon:
if the network is not better at least it should be cheaper

Mattswaggz:
Putting the county's purchasing power into consideration.......cheaper services will attract more customers before the consideration of quality services.... common sense should tell anyone that.

ARISHEM:
If it continues dangote share price will fall.
If subsidy returns dangote share price will fall.

Wickedfacts:
Price drops take time to reflect but price increases are immediate.

Some of the regulators should be jailed.

Daniluv1:
Exactly

Chidibe212:
Fuel being 50% of our daily lief's work at 1450, how the economy take stabilize?

Just sell less than 1k then we can clap for you

Racoon:
Naira stabilizes for where? @how much to a $ today? Where petrol is selling @1400+? A double digit galloping inflation? How has all these done this nation good? This failed government can only continue to deceive itself

sammirano:
This country will make education look like scam, everything you learnt about economics does not work in Nigeria. Which kind of country is this

AMINDA:
They should just hang in there and support Atiku in 2027 instead. Atiku will bring back fuel subsidy to ameliorate the suffering of Nigerians. The way Amoda is governing without any feelings for Nigerians, those who question his citizenship and argue that he may not be Nigerian are no longer sounding ridiculous to the ears.

erico2k2:
Both

givedemwotowoto:
Minimum wage in Nigeria is N75,000 per month

Minimum wage in America is equivalent to about N1.5 million per month.

But Nigerians and Americans are now paying about the same price per liter for petrol

Tinubu Must Go!