₦airaland Forum

Smiles. ADC have always been end of the year party. The status quo would remain after the election as those who are forming coalition don't have good reputation

The answer is No.

Atiku, one of the reasons I can't forgive him is about when the power portfolio was given to him as the Vice president to Obasanjo. Instead of Atiku to fix the problem , he rather invited Mikano generator company to come and scatter things. Don't even let us talk about the amount that was wasted on nothing.

Amaechi and Elrufai, I always have reservations for both of them as the so called opposition have lambasted them in the past. We don't do such hypocrisy here.

Peter Obi, just watch any of his interview discussing economy, then you will have an idea how shallow he's in terms of governance and leadership

Who else in the coalition, David Mark, Aregbesola. What's the political relevancy in their respective states?

We are wishing those who are forming coalition all the best. Abeg, we don't want to read any story about mole or someone working for president Tinubu later oo

Elrufai all sins forgiven and forgotten.

Sebi no mole for now abi. We would read more about that later

From frying pan to fire. Hahahaha

We would see what would end the coalition

Kachikwu would hear all the stories that his grandpa refused to tell him on this thread

DeZoro:
The best thing for VP Atiku to do now is to support Peter obi on this ADC matter. Atiku will be the hero if does that.

The issue with supporting Peter Obi as the coalition presidential candidate is nobody will fund the campaign. Atiku learned something in 2019 as Obi refused to drop money for the election campaign. Even the one given to him by the party, he was frugal with the spending

Una go explain tired. Why did Atiku leave Pdp ? It's because he's looking for the presidential ticket elsewhere as Pdp is no longer certain.

Let's see if the acclaimed best candidate would Vice other candidates he's better than

ddippset:
It is not entirely about desperation.

It is about the followership he has in Nigeria.

Any human being who discovers he has the kind of followership Peter Obi discovered in 2023 would be desperate to give it another go.

Let's get real, Tinubu cannot defeat Obi in a free and fair election.

Peter Obi's supporters are in their minority but just lousy. You dont have the numbers

If he likes, let him submit 2 years plan. Peter Obi can never be Nigeria president

What new things would Peter obi and his supporters will tell Nigerians in 2027? Hahaha

Would Pdp present presidential candidate in 2027?

Kukutente23:
You can't blame him though
This claim of subsidised dollars was brought by the Presidency iteslf especially Bayo Onanuga
It is only natural for their followers to believe and parrot it even if out of ignorance
The blame lies at the door of the presidency on this one

Considering the amount of dollars that was wasted for the 2015 election, how did the rate manage to stay around N355? Just explain to us logically . It was after the 2015 election the global oil price dropped, take note of that in your response

ExudeLoveToAll:
Education isn't a waste, get educated.

A lot of false information here, just go to NBS and DMO data and compare yaradua, good luck, buhari and tinibu government as regards borrowing and see the data for yourself. You said Buhari stopped borrowing? how old are you?

You didn't comprehend what you read. Go back and read again ,this time slowly

1nigeriamyfoot:
How old are you in 2010?

1nigeriamyfoot, what's your business with Nigeria matter?

richidinho:
Emefiele?
In 2010?

You are not sincere with yourself

I may not get the then CBN governor right but that was what happened then and after Emefiele resumed.

The changing of naira note before the election wasn't Buhari's idea nor Emefiele, it was just an advise of which legacies to leave behind and Emefiele and his cronies took advantage of that by releasing large funds to the politicians who are close to him while the Nigerians were suffering from the Shortage of Naira

Learner247:
Governments should subsidise commodities definitely but where it has turned to a cartel and a few goons are milking the country dry from it such that the country couldn't afford to finance it again, it had to be looked into.

What I think should be heavily subsidised now is food but not as usual. The Federal, states, local governments and wards should establish centres for purchase of food crops and sale at subsidised rate. But before then, a law should be promulgated to make corruption in that area a felony.

Abi. There are basic important things to subsidized not like dollar, fuel that the money are just going to some few people

denko:
Even if Tinubu Subsidy the naira today it cant come down below 1k so what is your point.

N25 difference within a year show stability in the naira to dollar rate

sunky1983:
who recognise Adc in ogun state, party wey no get level. YAYI is winning governorship in Ogun state come 2027 that is if he wins primary sha o.

Go and tell Yayi to forget about being Ogun state governor or he should convince us with the thread below

https://www.nairaland.com/8459316/ogun-state-2027-chance-senator

For more jokes, SMS DAVID MARK to 419. See expensive joke

aribisala0:
Who is the we that borrowed to subsidize the Naira

Was it the FG or CBN


How much did they borrow

Would CBN borrow money without FG knowing?

Don't ask me how much was borrowed. This is my opinion which I supported with some facts. It's not a must you accept it.

aribisala0:
Argue with facts

Who is the we that borrowed to subsidize the Naira

Was it the FG or CBN


How much did they borrow

Don't bring PDP or APC into it

Just substantiate your claim

Who was the first minister of Finance to Buhari after the election, Kemi Adeosun. She resigned because of forged NYSC certificate, so we read.

Connect the dots. As for the figure, you can direct your enquiry to CBN and office of the Accountant General to get that

aribisala0:
I want to start by saying I do not want to get into politics or talk about Tinubu

Who is WE

I always insist on precise use of language

Are we talking about the Federal Government of the Central Bank

You said WE borrowed to subsidize the Naira who is the WE that borrowed

Throwing up a hundred questions is deflection not debate

I encourage you to reflect on my final point that
over 20 billion dollars entered the country from diaspora and was not sold through the CBN it went into the market on a willing seller willing buyer basis into a FOREX market that was efficient in genuine price discovery
Surely you are not saying those people were selling their dollars at subsidized rates are you

You are talking emotionally and ignorantly

You are not really helping Tinubu with this because this is a matter that you have weak understanding of

I like arguing with facts.

In preparation for the 2015 election, the dollar that was used for that election by both Pdp and Apc could drained one's foreign reserve. There is no way with such shortages plus the diversion by those who are in CBN for dollar to move from N155 to N355, it should have been anything from N700 rate.

For the dollar to maintain N300+ rate then , it was subsidized by sourcing for dollars in other countries . Those who collected the dollars didn't invest it in Nigeria

aribisala0:
Not everything is politics
I really do not know what you mean by subsidized dollar
Maybe you can define that and also state clearly the extent or percentage subsidy

My understanding is that the The Forex market is one of the most efficient with price discovery governed by demand and supply
By Forex market I am referring to what Nigerians call black market i.e Aboli/ BDC


The main discrepancy is the spread between the official rate i.e what the CBN sold at and what was happening on the street

A large spread is more indicative of what you might be referring to as SUBSIDY though Subsidy is not an accurate description

That spread widened under Buhari

Now at the time when it was 1 to 150 Emefiele was not in office
He came into office in June 2014 by which time the cracks had started to appear it was about 165 and on the the street it was approaching 200

Your claim that WE WERE BORROWING to sustain exchange rate is ridiculous.

What does that mean in practice ? That we were borrowing dollars and then underselling?

FIrst of all who was the WE that was doing that? The Federal Government or the CBN. That is a fundamental question you need to answer to demonstrate you have a clue what you are talking about

For the record this business of "FLOATING" the Naira is not new
The dollar was very stable at 80 Naira under Abacha it was the REAL rate

The reason is simple He was able to Stifle DEMAND for imports

The exchange rate ultimately depends on the balance between imports and exports

Again between 1999 and 2014 . The exchange rate was very stable at close to 150

This was based on very healthy Foreign reserves, higher oil prices

And the fact that Obasanjo had been able to clear debt



Much of the borrowing that happened after that purportedly for rail and other infrastructure projects,as well as for balancing the budget put pressure on the exchange rate because the ability to repay and service debt as well as consume imports at the same rate became more difficult when oil prices crashed in 2014

After Buhari came in it was clear the Naira needed to be devalued and this happened but it did not go far enough, was not transparent and then corruption set in at the CBN leading to a widening of the spread between street and official rate

This is not new we have seen this several times before in the late 80s and 90s


SO Whilst I agree with the decision to let the Naira find its value. It is not new we have donde that before also your understanding and analysis is wrong.

There never was any borrowing to support the Naira . That is silly honestly

The use of the word subsidy is wrong.

The CBN is not the only player in the the Forex market. Over $20 billion of diasporan remittance enter the market each year and that money is traded VERY EFFICIENTLY . There is nothing like subsidy there. There is genuine price discovery

Didn't we borrow to subsidize fuel in Nigeria before? Didn't we borrow to pay workers salary before?

If you haven't heard about subsidized dollar before, just say it. The then CBN claimed there was shortage of dollars because there was high demand while in reality, the dollar was sold to the CBN cronies which they resell to another country.

How did we get new set of dollar during the shortage without government pumping money to make that happen . That's subsidizing

SeeWahala:
Hmmm 🤔 so you knew the CBN governor under buhari was actively 'cooking figures' YET you supported him wholeheartedly for a good 8 years against your better judgement all because of . . . hmmm 🤔

Truly, these APC e-thugs are the most wicked set of Nigerians we have ever birthed in the history of our country

I guess Emefiele only served under Buhari. Perhaps from my write up, it was under Buhari we were borrowing to subsidized dollar.

SeeWahala:
I remember how this op was chanting 'e go favor me - e go favor me' hehehe 😂🤣


Today he is opening threads upandan trying to justify why the favor has not yet reached him yet even after 2 whole years of his 'preferred' candidate winning RIGGING the 2023 elections 🤡

The curiosity is, why is it you guys most especially in the Obidients camp are not interested in discussing issue and possibly find solutions. You only want to make joke out of it.

A known Pdp members has commented on this thread which correlate with the topic of discussion, but whenever it comes to you Obidients, off topic, derailing, unseriousness is what we always read from you people.

How much was naira to dollar rate in 2024

How much is the same rate as at today?

Let's discuss things we might have not known, misled before and find the way out

Deepspirituals:
You don't have to be Acts like a Baby that is Annoyed .. Wait till 2027 .. It's already here .. Just Waits ..

An adult, you should have known how to engage others that's if you are indeed spiritual. Spiritually comes with calmness not aggressiveness

Hehehehehe:
People supporting this government we see them as people with mental health problem

Show me video where Buhari said he would make naira to dollar to 1..

Those are banners by the Apc supporters which do not align with the then Apc manifesto.

Also let that one too rest as it's fake. Apc never promised $1 to naira

SalamRushdie:
You have come to embarrass yourself self again on the altar of needless sycophancy, since dollars wasn't 150 in 2010 why do t you tell us what it was and and how much was being used to subsidized one dollar ? There is nothing like currency subsidy , Central banks have a mandate to manage the demand and supply of foreign currency, it's called currency defense , even the Tinubu govt is heavily doing it today if not the the price of the Naira should be 1950 as we speak ... if Jonathan was subsidizing the Naira was he also subsidizing the GDP per Capita which was 3400 dollars ? But today under Tinubu it's a miserable $800..Was Jonathan also subsidized FDI which was the highest is Africa through our his tenure but today Tinubu can't even attract 1.2 billion dollars..

If Tinubu had his policies right . the naira will be nowhere near 1600 it is now ..the man in a bid to rapidly enhance Oando made a huge miscalculation of moving Petro price to 590 not realizing that would trigger attendant inflation and also affect the demand for forex ...The man knows nothing about economics and even you will agree at the end of his tenure because he will have no result anywhere

The question you are not asking is, what was the subsidized dollar used for? GEJ presidency claim to be one of the best economy in Africa back then with nothing to show for it on ground in terms of projects.

The then CBN governor was just cooking figures just to make the president look good. Or did Apc demolish any projects done by Pdp that we still have large gaps in terms of development in Nigeria.

If within one year, the difference with the rate is just N25, then it means Naira have been gaining strength and remain stable

Deepspirituals:
You don't have to be Acts like a Baby that is Annoyed .. Wait till 2027 .. It's already here

Bro, you are not the only one seeing oo. Go and check most of my threads and see accurate spiritual seeing which are far ahead of the events.

With 3rd eye opening, that's easy gateway to connect to the universe

KaLuCh:
Uhm? So the government should never subsidise commodities for its citizens? You do understand that's part of the government's reasonable duties?

To be cntd

One year naira to dollar difference is just N25. Bro that's real stability in currency. You can also confirm it by searching for the rate of dollar in 2024 and as at today, the Google always give average rate.

This government should be commended for thst

That lies have been flying around for some time whenever some people want to question why the dollar rate currently is above N1500.

The truth is, during the time of naira to dollar N150, it was subsidized dollar as the then president didn't want the rate to go unnecessary higher during his time, they kept subsidizing while the then CBN governor and his cronies were reselling to other countries. It even got to a time we were borrowing just to meet up with the fake N150 rate.

Buhari stopped the borrowing, even though there were still subsidizing, we started seeing N355 rate, as the subsidizing money was reducing, the rate continue going up

President Tinubu came, he said we are not going to subsidized the dollar again, let the real price show it's face and the market will take care of the rest.

Without borrowing, without subsidy, the real actual Dollar rate as from 2023 when president Tinubu took over was N1500. As at this time last year, Naira to dollar rate was around N1535. As at today's rate it's around N1560

Naira to dollar rate 2024 N1535
Naira to dollar rate 2025 N1560

Can we see the stability in the naira to dollar rate under this government?