₦airaland Forum

Flets:
I have maintained that Tinubu opened up our forex market to the new cabal..... Banks, IMF, speculators etc. An import driven country with such huge balance of trade deficit has no reason to float its currency.

Tinubu's government will not escape an uprising because the situation is impossible. People will have to fight back or die.

How many businesses closed in one month?
How many jobs lost in a month?
The sense of hopelessness is unbearable

So central bank should keep subsidising forex and round tripping should continue?

koxyz:
You should have listed the policies and strategies put in place to invalidate my statement.

What policies and strategies do you think should have been put in place?

chidiokay:
Even tho AEDC have denounce the hike officially, lets even assume the Hike in price happens tomorrow how is that Tinubu fault or got to do with FG

On several occasion Discos have alway increase rate subtlely those using prepaid can relate the only difference these time is they decided to do it openly.
What ever Nigeria is going through right now is eminent, there is no way anybody can fix Nigeria without "pain effect".
There is nothing peter obi can do, except he continues on the steps of GEJ, Buhari no other road is smooth

No oo. Peter Obi would have performed magic.

koxyz:
The supply side is not beign attended to.I dont know how the appreciation will occur.

How do you know it's not being attended to?

Parachoco:
Naira will be between #550-#650 before the end year

Sure thing.

jmoore:
The analysts are obviously myopic. Nigeria is an importing country, therefore expecting a dollar to be 650 naira next year won't happen. Tens of billions of dollars from crude oil revenue is not enough to meet the demand of forex.

We actually export more than we import.

Wow.

Average Price of Petrol in Naira across some West African countries (Before and After Nigerian Subsidy removal).

obembet:
- Peter obi would have Turn $1 to #50,

- at least 3 refinery would have been working now,

-Peter obi would have approved student loan without pay back untill the person get work,

- At least Obi would have build 2 port South East

Peter Obi their demi god.

MykellOni:
Attendance: Present ✔️
I'm still waiting to see the magic this man has come to perform... It's not jz about Changing everybody possible in every sector, what is the effect of the change It is well with Naija

I still don't see anything anyone can do short term as a palliative measure to withstand the effects of Fuel subsidy removal and Forex unification.
However, if we don't take these decisions now all in the name of preparation, we sink ourselves deeper and deeper into a hole.

Likoya:
Just 4.3 million? That is a very big lie because the number is light years greater than that...It should be at least 50-60% of the entire northeastern population in my opinion...If not upto 70% sef if we're telling ourselves the truth in this country

Places like Gombe might just be more developed than your state.
I actually believe these numbers are exaggerated until we do a real census in this country. You saw the number of people who voted in the last election already.

Emir8:
Oh God! It's in the nature of all Nigerians to exploit others when having the opportunity. The Buhari govt claims that they are paying 255 naira subsidy on every litre. When that is removed, a litre should be about 395 naira but exploiters have increased it. We shall survive

Exchange rate was pegged at 460 naira then.

ZombiePUNISHER:
Yet he's more interested in taking pictures ... to satisfy his illiterate supporters...

did you see the contributions of other African leaders.. did you see their speeches.. especially that of Ruto..

Tinubu is more concerned about recouping all the funds spent in buying the election..

Get ready to pay for the air you breath..
stupid fellows everywhere

Those contributions from other African leaders, how has it helped their country or Africa?

ZombiePUNISHER:
Three Nigerians were scheduled to speak in France recently.. BAT, NOI, Adesina

Tinubu chickened out at the last minute only for the Ambassador to represent him..

Other African presidents were talking tough, Ruto, etc Tinubu was nowhere to be found..

only interested in snapping pictures privately with presidents and holding hands for his zombie supporters..

This is what happens when an incompetent fellow buys an election..

That's Tinubu for you. He controls the narrative himself.

So would Obi have subsidized electricity?

jumper524:
Professional bodies too were subsidised?

My God, I know the govt is corrupt but if they did subsidised this much, them the govt would bleed.
The president should cut off all form of subsidies apart from education and start investing on new ideas.

The Government should subsidize only primary and secondary education as well as vocational/technical institutes.
Government can then reform the student loan bill to ensure the lower middle class and the poor who want to go to University have access to it.

Most likely Sowore's imagination here.

Stock market today: All Green

Green across all sectors.

Not much difference anymore between BDC (parallel market) at 770 naira/$ and Official rate at 763 naira/$.

"Investors Gain N421.19bn as @ngxgrp ASI Advances by 1.30%; IEFX Rate Closes at N763 as BDC Rate Closes Flat at N770".

theenchanter:
the bolded, my guy, is the reason we have that entitlement.

Even here in my area, when I talk with people about the realities, the next thing they say is "sebi we get oil, no be same oil Saudi Arabia and UAE get?"

I just tell them that Nigeria is not a rich country, Nigeria is actually a proper poor country...... Then I leave them to their delusion.

😄😄

theenchanter:
sincerely speaking, Nigerians are just entitled fellas.

Accepted, we get things cheaply, cheaper than it's actual price. Be it gas, electricity, water, just name it. These things we get are actually subsidized by the govt, the govt even subsidized things that shouldn't be subsidized in the first place, so we got used to paying cheaply for utilities.

Now, the govt has come out to declare that subsidy is killing the country and an end to it is imminent, we're still asking for palliatives from that same broke ass govt.

Nigerians on average inherently believe we are the richest country in the world with just corrupt politicians who steal trillions and trillions.

I grew up believing that. All my folks believe that too.

Sowore and the likes believe that.

theenchanter:
lol, increasing salary without making the economy resilient will cause inflation. As salary increases, prices of commodities will unjustly increase.

That's what the liberal economists say but salary would have to be increased to match current realities.

theenchanter:
Nigerians and bastardization of terms, coupled with entitlement mentality.😂

What palliative exactly and for what reason? Explain to me like I'm a 5yr old.

Palliatives doesn't have to mean sharing rice. I mean welfare and the spread of it for lack of a better term (I nor too go school).
In this sense, the measures I profeered as palliatives in my next post would answer your question.

Shaytun:
You can now swap currency on your mobile app instantly. Wow

Got mail from GTB today.

Sure thing.

Obaaderemi2:
It was like that around 2008. You could swap your dollars for naira. I know of Diamond Bank doing it then but not GTB. It's still not very helpful because thwy will never do naira to dollars.

Reserve is now 35 Billion dollars as compared to 2008. At a time around that period it was around 64 Billion dollars.

So there are not enough dollars yet in the system to allow for thesame freedom we had with dollars (2005-2014).

Just40:
I didn't take note of the person cause I was just flipping through my timeline to catch up 😂🤣

You guys are wild ... Keep up the good work to keep them on their toes.
Put the fear of God in them

Yeah those are people like your Bright Simons in Ghana. There are many of them on Twitter.

Just40:
Someone pass it out on my timeline comparing it to USA 3.

But my actual comment was about he being against it or not.

I probably know the person 😄, he's a great business analyst though was Obidient.
He meant the speaker not Tinubu.

Just40:
someone posted 35 on my timeline and I don't know how true that was.

My real question was, seem you're against it.

The person must have mistaken the appointment of 32 aides by the Speaker of the House to mean Tinubu's appointments.

Of course I am against the speaker having 32 aides.

Obaaderemi2:
What kind of palliatives, if I must ask? The kind of palliative that would be most effective and far-reaching right now is to allow rice to be brought in cheaply to drop food prices sharply. But he can only do that by allowing the opening of land borders with benin and also by giving dollars to rice importers, two options that would be very hard for him because Lagos has investment in Imota rice mill, and also because of the dwindling value of naira against dollar. What do you suggest?

It's a tough one, but for first 3 months, these are my suggestions:

Making small loans/credit available for sme's. Reducing import duties and stuff like that in addition to salary increase for federal workers to at least 80,000 naira.

State workers must also have salaries suitable for their states e.g Ebonyi state workers should have lower minimum wage than Lagos state workers, etc.

Just40:
You're speaking like you're against his 35 special advisors list

He's only released 8 special advisers not 35 as far as I know.

BluntCrazeMan:
Ok.

I guess we leave it at that.


Let's not argue much on this.

Obi is different because as a trader he can probably save money well and reduce cost of Governance.

BAT is different because he is an accountant with Honours. He has worked with the private sector at the top being a former Treasurer in mobil.

His problem solving and administrative skills would likely be more advanced than that of Obi.

Shaytun:
Just wondering what Tinubu 100 days in office will be like.

Man has made so much move.

If he can find ways to make palliatives far reaching and effective (which is a difficult thing to do), and then release a ministerial list of at least 90% technocrats (just like his list of special advisers), he would have cemented his first 100 days in gold.

BluntCrazeMan:
Would you prefer a newbie,, I mean, a blatant rookie to run for the presidency??


Peter Obi is different..
He is not new.
Nobody wanted new rookies..
We just want different set of people there..
And Peter-Obi is just so different..

Obi is different in his own way. BAT is different in his own way too.

Lama70:
He must have been very confident about his selection as a minister in PBAT
government. May God help him.

It's not about being confident. With just 30 days to the deadline for ministerial appointments, BAT must have reached out to all selected already.