₦airaland Forum

VeeVeeMyLuv:
This man is advocating for naira to be further devalued:

X@lekansote1, lekansote.com


Bloomberg ranks the naira among the world’s 10 weakest currencies, three of which –Zambian kwacha, Angolan kwanza, and Nigeria’s naira– are from Africa. Their weakness is attributed to unstable commodity prices, inflationary pressures, and lack of dollar liquidity, a point of view that enables Euro-American metropolitan economies to prey on Third World economies.

But the weak naira needn’t be a disadvantage if President Bola Tinubu’s economic managers can flip things around, and take advantage of economies of large-scale production by getting the real sector, especially, to produce, for export, goods for which Nigeria has a comparative advantage. Investment banker, Dr. Nnaemeka Obiaraeri, says Nigeria has no currency problem but lacks productivity.

After the Naira gains strength from the accumulated foreign reserve therefrom, it should be further devalued– to maintain the weak regime that should earn even more convertible currency to finance the importation, and acquisition of more infrastructural and industrial production capacity that will eventually strengthen the naira.

But strengthening the naira will not be the only intent of this strategy, but is to reverse the current import-oriented trend of the Nigerian economy and tap the ready market for Nigeria’s manufactures in richer economies.

Nigeria’s fiscal, monetary, and macroeconomic policymakers should consider this unorthodox opportunity to strengthen Nigeria’s economy which is suffering from inappropriate economic policies that are imposed by Breton Woods institutions on an unwary political class.

If all this works, all CBN Governor Cardoso needs to do is to keep looking for creative ways to devalue the naira further, which will be getting stronger, to make Nigeria’s farm produce and industrial manufactures affordable for consumers in foreign countries with stronger currencies.


X@lekansote1, lekansote.com

People do not know the advantages of the devaluation we are experiencing or they are just being mischievous and hiding the advantages from the gaullible Nigerians......every producer in Nigeria would appreciate this devaluation regime but consumers wouldn't or those who just want to trade without adding any value would complain.

Cassava farmers are now smiling to the banks because of the higher returns they are getting and more people are going into agriculture to tap the opportunities in that space.....the naira is already finding it's true value and it then behoves on people to up their productivity to catch up.....it isn't going to be easy,we all know but we don't have any choice but to increase our productivity.

VeeVeeMyLuv:
That's very very unfortunate

It is only pathetic APC regime that can do this rubbish

This guy is talking about orthodox and unthordox when, naira keeps on plunging into the abyss, inflation is tipping towards hyperinflation and the purchasing power of citizens have been effectively destroyed by clumsy policies of free market pure capitalism supervised by kakistokratic kleptomaniacs under an atmosphere of corruption.

Majority of masses pockets are drying up because of your clumsy policies.

In a bid to bridge the gap between official FX and parallel rate, prices of goods and services keeps flying up, recently your boss increase petrol price again. You don't leave your currency for speculators to feast on. Making a living off this menance has damaged the currency. Maybe it's time to review your policies.

If you guys don't have the knowledge of how to handle the economy effectively, productively and sustainably mellow down, humble yourselves and go beg the PDP predecessors for wise counsel. Ask Prof Soludo how he managed your CBN during his time.

Though the nature/kind of challenges faced in the past are quite different compared to the present. Different times, factors, realities.

Mr economist wehdon!! You need to reckon that it is no easy fit to keep the dollar at even the 1,700 it is right now.....we should have been at over 2,500 by now if not for the ability to meticulously manage the economy.

You are all crying about inflation,CBN has raised interest rates severally to check this and its succeeding which ever way you look at it.but cynist like you who have no solution to the problem are only good at castigating every govt policy just because you were defeated in the last election.

Tinubu,atiku and obi during the last elections had a point of convergence on subsidy removal and foreign exchange liberalisation and tinubu is the only president in a long time who told us what he is going to do and is following through with it.

Subsidy removal.
Naira floatation.
Student loans.
Separation of budget and finance ministries.
Increased investment in oil and gas sector.
Consumer credit.
Improved welfare and independence for the judiciary.
$1 trillion dollar GDP.

You need to atleast give kudos to this man for atleast following through with his plan and sticking to it ... That's the only way we can get our economy out of the woods and this will take a lot of hard work and resilience.

Omoslim26:
Someone should tell this alajo shomolu to go and sit down and talk about anything related to Economy

This one is the dumbest CBN governor ever liveth in Nija

It's easier to sit in your room and criticise without having been able to do anything with your life....many of you do not even have the integrity to be trusted with ordinary 10k.....ordinary community CDA you cannot run properly.

Taich:
Since BAT came on board, BAT and his crew, always speaking without thinking, running around like headless chicken. They only thing they understand is looting and squandering borrowed funds.

It's easier to buy 100mb data and criticise!! What do you know and what can you do?

happney65:
Bros you are not serious at all. Do you understand what you're saying sha? You know what the current interest rate says? Making it expensive for business people who take bank loans

Egbon,E lo sun

And you are crying about inflation.....what better way do you have to manage it?

EmeeNaka:
When did CBN governors start talking about their predecessors?

The topic is different from the post.....this is click bait!!

The topic is different from the post.....

IfnobeGod20:
You're commenting as if you're not a Nigerian and don't know the law. The law doesn't permit any state governor to repair any federal road without express permission from the FG. Same way, no individual can do state government road without express permission from the state governor. Every federal government roads constructed by the state governors, they seek for refunds from the FG. And do you think the FG is ready to part with money to state governor for repair of federal roads?

Again, you don't know that must of the roads scheduled sometimes to be completed for 2 years sometime lasted for 3 to 4 years. I remember the road from Abuja to Lokoja was awarded during the first term of OBJ but till date many portions of the road are yet to be fixed. That is a road awarded around 2001 or 2002 thereabout.

I did challenge you to mention those that challenged the construction of 3rd mainland bridge but you have not made mentioned of them. Please I still want you to mention those that challenged its construction.

Again, was the Victoria Island and Ebute Meta having a standard motorable road before the construction of 3rd mainland bridge? There was no such accessible road to link the two ends together which calls for the construction of the bridge then. Trying to make up this lie doesn't make any iota of sense and they are even incomparable.
Have you seen a father that his wife is pregnant and he neglect the existing children he has? That's what FG is doing. Won ni oyun sinu afobo toro.

This your mentality is something, trying to shift the blame and responsibility of the FG to the state while the same state government have enormous schedule to accomplish on their sleeves. You forgot that the FG go home with 53% of the monthly allocation while the rest 36 states plus FCT share 47% but still pushing more burden on the states just to exonerate the FG negligence.

The Lagos state you're using as an example, are only doing internal roads and doesn't have a larger landmass like other states. And most of these federal roads in Lagos are internal roads and not at the outskirts. So they are incomparable my brother.

I won't go low to your level because I am well trained and cultured. We are talking of roads repair but you're talking about lekki seaport. We are talking of federal roads that linked one state to another and not and internal project. Please put on your thinking cap and stop rigmaroling and swinging from left to right. You're conversing with an enlightening person please. I am cog sure you don't travel because if you do, you see won't be misyarning this way.

Blow your trumpet to less enlightened people like yourself.....it's obvious you have limited understanding of how govt functions and rather than accepting the fact you make a volte face with your misplaced assertions.

What do you mean who were those that opposed the construction of the 3rd mainland bridge,I bet you don't even know who started that project and when....a project that was initiated in 1976 and didn't get completed till 1991 but the question I like to ask you is whether the road is not useful to Nigerians now as compared to what procrastinators like you at the time were saying to condemn it's construction.

I posted that those so called federal roads be removed from the exclusive list and put on the concurrent list so states can be able to fix the failed portions within their states but yet again you condemned that as typical of your ilk who do nothing but complain without offering any solutions......the entire failed portions of the east west road within edo state isn't upto 30km in total,a responsible gov would ensure this is done to alleviate the suffering if his people who are the major users of these roads whithin Benin.

I have a problem when people supports the lack of initiative of this lazy dysfunctional govs who are always quick to point to Abuja when there is a lot they can do to develop their states considering the allocations they get,many LGs are laying comatose because they have been stifled by the govs that starve them of resources.

And for your information,since you couldn't decipher my inference that there were already 2 bridges across the lagoon when the 3rd mainland was being initiated and it seemed out of place at the time to embark on such huge project just as you are all hating now on the coastal rd project and other legacy projects of this govt.

For your information lekki epe exp way is an interstate road as it takes you into Ogun state through the east, ikorodu rd also take you to Ogun state through mosinmi to sagamu.....the delta end of the east west road only has a problem along the sapele rd axis with some sections failing not upto 30kms in total and you are telling me delta can't fix that with all the allocation it's getting but waiting for Abuja when tinubu or his people would hardly play that road but deltans are the ones who would.

Mr enlightened.

SatoshiX:
So they are still holding talks? After giving the masses hope that it's a done deal and it will starts by October?
Today NNPC stealthly increase petrol from 998 to 1025 in Lagos.

Did you read the article at all,it was a briefing on their activities so far .....the policy has already commenced and the president himself is keeping tabs on the matter......but don't expect prices below 850 to 900,it would be really foolish to do so.

Tflex01:
If Tinubu had a habit of coming after those who are not on the same page with him, he won't be the president today.

Aregbe offer zero electoral value to APC in Osun

He was a renegade in the last elections and the gubernatorial as well .... it's quite unfortunate how aregbe is ending up,that guy would have been chief of staff in aso rock today.

Mrfixiit:
I knew it will only take a while before T pain comes after him for not being on same page with him.

It's about the coming gubernatorial elections.....it's simple house cleaning by the APC.

Cromagnon:
What is their mortality rate
Which newer and faster one do you suggest
Can you afford those new ones(are you ready to pay more taxes)

How many hueys were lost in nam

How many were lost to Farrah aidid's ragtag militia.

Hueys are expensive to run and maintain and has been decommissioned even by the US military.

Kobojunkie:
Not the social media frenzy that led to public outrage which caused the police that originally arrested the victim himself to turn around resulting in the police then going after his assailant instead in less than 48 hours of the ordeal? Are you high?

It's normal to take the guy into custody because the honourable was the initial complainant,he could have claimed trespass or assault.....and it's normal for the police to invite the accuser when they find out the true story .... Whats pertinent is that mistakes have been made and both sides must have learnt their lessons.

Kobojunkie:
Abuse of power is not a serious issue bedeviling the nation?

Let the aggrieved seek the appropriate channel to get his justice and not the social media frenzy being made out of this.

Zaheertyler:
Beautiful

What's beautiful about this?

I mentioned it the other day that why buy hueys.....this are old choppers and we could have had newer better and faster ones,also considering the mortality rate of these hueys both in nam and Mogadishu,it's a no no......I wonder how we ended up with them.

She must be dead cheap.....3 damn years for just 21 quid!! That's 7 quid a year.....damn!!

pretydiva:
Na ugbowo road be this nau. E no go pass uniben student

Lagos rd,you Sabi......"oba a tokpe e"

DeepsightX:
You are the one who is dim witted for thinking he is a civil man. If not for that recording you would have seen how "civil" he would be.

He has been caught and he has apologised,the victim can press charges if he wants

DeepsightX:
Will you sharrap? If you dont know that what that man did to that Bolt Driver is exactly what the govt is doing to the people and if you cannot see the corelation then you yourself are a problem.

Also he has not compensated the man, if he has, it will be made known.

Should we then loose our sleep over this isolated.....he has done what a civil man would by apologising,u can atleast commend him for that.

You are rather dim witted for believing any compensation he gets from that man would be made public.

Arizoner:
You are an idiot

You are a bigger idiot for wailing so hard over another man matter .....whom you are a nonentity to anyways

Namaster:
DISHONOURABLE Alex should be recalled IMMEDIATELY.

He's UNCOUTH and UNCIVILISED.
A LAWLESS man that has NO business being a LAWMAKER.

Plus, NEVER seen that kind of face in my life.
Looks like an UNCOMPLETED albino monkey with pink lips.

The fact that he LOST his temper because he was TOO LAZY to come to the gate to collect food he was TOO LAZY to cook and TOO LAZY to drive and get himself is proof that he's as REPULSIVE inside as he is outside.

He done apologise and he would have settled the guy already....let's move on,we have far more serious issues bedevilling us as a nation.

What's dapo doing with all this revenue?

MrEverest:
Oh, he even converted to Islam?
These ohanaeze people don’t know how to talk. How does the action of one man who represents just his own constituency now amount to disgrace to Igbos? Who made these thoughtless goons cultural reps of Igbos?

Tufiakwa!

I can bet that wasn't an official statement from ohaneze....the original one o .....wetin I dey talk sef,how we wan know the original and the fake, ohaneze factionalise pass PDP.

oluwaseyi0:
Watch out he will still win his next re-election bid just like that Abu from Adamawa

Abbo lost,he is no longer in the senate!!

IfnobeGod20:
Like leaders like followers. Always thinking anticlockwisely. Doing things rightly is an abomination in our society.
You know the years it would take for those trillions naira roads to be completed, like that coastal road has been projected to be completed in 15 years. Why should a reasonable leader subject the lives of his citizens to hardship for a project that will take over 15 years to complete?

You have not completed a project but you want the FG to transfer the burden to the state when they themselves are still battling with repairing and upgrading their internal roads. This your suggestion will make meaning if the FG have successfully completed the road, then, the old road can be transfer to the state for management. Lithiumite, you're not wise but just commenting blindly as a normal APC supporter. Your intelligence is skewed and need reformat. Your suggestion is liken to the Yoruba adage that says, oni oko ni ile, afi obo to ro. Try and be commenting with sense, it will cost you nothing.

I gave you an analogy of 3rd MB when Lagos alone already had 2 bridges across the lagoon and the entire eastern region had only 1 across the Niger.....it made no sense to the antagonists at the time but where are we now with that.....if it takes 15 years to build,the road doesn't belong to tinubu but to Nigerians and its long overdue.

How many kilometres of the east west road is in bayelsa,how many km is in Rivers and what maintenance is required that the states can't handle,each state can take care of the failed portions within their domain,this has been done before especially during obj and yar adua and I remember this same tinubu started it when he was gov before others borrowed a clue from him.

You are absolving those dysfunctional govs from their responsibilities,obaseki is waiting for Abuja to come fix the bad stretch on same road at ologbo,by pass and the sapele rd axis within his state capital, portions not up to 30kms combined.....Lagos applied for many fed roads to be transferred to them because they prioritised the welfare of their citizens over primordial, selfish and myopic reasons,imagine Lagos waiting for FG to come fix lekki-epe express or ikorodu rd all the way to ikorodu town,just imagine....don't just criticise subjectively....the 3 mega rd projects badagry-ilela,Lagos to Calabar and Calabar to Abuja are legacy projects that will do the country a whole lot of good.....the lekki deeps sea port when it was started looked outlandish to narrow minded myopic beings like yourself but look what that project has done to that axis and Nigeria as a whole.

ntyce:
So they start building, divert resources towards it and existing roads become unmotorable.
There are far more important roads, the East West road hasn't been completed.

That doesn't stop or negate the importance of the coastal road and the badagry to Sokoto road.....with the coastal road, you should be able to do Lagos to PH in 4hrs,that makes a round trip possible in a day.....those old roads can be transferred to the concurrent list.

Lanretoye:
Reduced prices to some people will mean fuel will be cheaper in Ghana than Nigeria,they don’t even know how much is a liter there already.

Don't mind them,they will say we own the oil,we should be buying at 300 naira per liter as if you just dig a borehole and open a tap to get petrol......very ignorant lot!!

MadamVanessa:



The sad thing is that Ghana will import the petrol from Dangote refinery and sold it in Ghana more cheaper to Ghanaians while Nigerians will continue to buy petrol in a very very high price ,even though the oil is owned by us and Dangote refinery is in Nigeria and Dangote himself is a Nigerian. If you doubt this, see the light situation in Ghana and Nigeria and you'll realize how this shit hole is uselèss and how uselèss the Nigerians leaders are.

Who told you light is cheaper in Ghana than Nigeria......you even pay more for electricity in Benin republic than over here.

ntyce:
Are we facing the same challenges as we did in 1976?
Then we had surplus

Surplus or not, people felt the bridge was a waste and wasn't needed and accused those in govt of wanting to use it as a conduit pipe to steal money.....same is happening now.

Righthussle:
Na ABA made road just like Aba made shoes

This can't be available,it must be somewhere in tinubu's Lagos

ntyce:
This man na moomoo..
You're not at his level, after stealing the people's wealth.
In your role as a Minister, you have failed woefully.

Almost all the federal roads are in bad shape, you received a budget of 300 billion. You and your master Tpain chose to focus on the coastal road that is a white elephant. A project that can't be completed in the next 10 years.
Why not use that fund to complete ongoing projects and renovate the bad roads.
But the only way you can steal is to award white elephant projects... The coastal highway was awarded to Hitech owned by the Chagouris who Tinubu visits every month in France.

Awon ole

When the military govt decided to build the 3rd mainland bridge in 76,it was called a white elephant project and that the country had no use for such humongous waste,the govt got a lot of scorn on that......now imagine the chaos Lagos would have been without that bridge.