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What Might Happen To Nigeria Currency After Subsidy Removal? - Politics (10) - Nairaland

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Re: What Might Happen To Nigeria Currency After Subsidy Removal? by highchief1: 8:27pm On Apr 18, 2023
olril17:

You have lost your sense.
No sensible human should support Apc.
when u grow up u will know that animal that has flesh also has bones.nobody is 100% bad..apc govt did some nice thgs pdp couldn’t do.They failed in some areas.I won’t argue with u.people who see life the way u see it are not good to argue with.They are the OBIDIENTs if u don’t align with them,they bring out a daga.

4 Likes

Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Iamzik: 8:34pm On Apr 18, 2023
Divoc19:
Let them bring it on. We are ready for anything . Am optimistic about this new government though undecided

Same way many were optimistic about buhari
With the crop of politicians surrounding tinubu what will he do better?

You don't start a new government with so much tribal and religious division then add hardship to the mix.

I've always said that with the way buhari mismanaged Nigeria in the last 8 years, there is no magic wand anywhere no matter who is president.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by blackpanda: 8:43pm On Apr 18, 2023
vhykeeytor:


What's the minimum wage in South Africa? You people would just come here and be making useless comparison. If the minimum wage in Nigeria is 100k, put fuel at 1k per litter and no one will complain.

so how much is the minimum wage in south africa, since you know
You start blabbing with question which you have no answer, then jump into conclusions.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by blackpanda: 8:45pm On Apr 18, 2023
onosbaba3310:


Is good when you make comparison, make comprehensive ones, $3 in South African Rand is 54 Rand,one dollar is equal to 18.17 Rand, there is no basis for comparison here

Unfortunately you ain't even correct according to recent Below is what south africans pay for fuel

stop googling old data. Rest
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by blackpanda: 8:46pm On Apr 18, 2023
arantess:

Here we go again

always comparing prices without factoring their minimum wages, social infrastructure and the rest.

so how much is their minimum wage in south africa, since you know
nonsense
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by blackpanda: 8:47pm On Apr 18, 2023
Acidosis:


Since we are on a conversion spree, do you also know that the minimum salary of a domestic worker in South Africa is R2,929 (N74k)?


nowhere in South Africa is a litre of petrol sold for $3. The correct price is$1.3.

oya clap for ya sef grin
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Saviourfresh: 8:59pm On Apr 18, 2023
Mccallistas:


What did you do that they had to ban you for 10 years

Well the lady in person contacted me and said she violated one of the rules by advertising and that she's very sorry.
But 2033 is too much. 😂 Even God forgives.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by mightyhaze: 9:05pm On Apr 18, 2023
1Alex:
My own na to buy bicycle now and keep., because fuel will be regarded as gold after subsidy removal.

After the removal, prices of bicycle will triple.
No go get hernia o


Too much cycling dey cause am

1 Like

Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Major77: 9:58pm On Apr 18, 2023
[color=#006600][/color] naira will crash totally
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by nairamaniac: 10:20pm On Apr 18, 2023
Blackdeewhy:
Till this very moment, I find it difficult to know that an average guy in Rivers state boil/ produce petrol from crude oil (bunkering).

Yet our federal government CAN'T to make life easier for it's citizens.

Can somebody please explain to me?
It's not petrol they produce. It's diesel.
A bit below average deisel for that matter.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Gerrard59(m): 5:18am On Apr 19, 2023
tunwumi:
There is no government that is honest. Jonathan's government was not honest at all.
Oil went high to $147 and he met $50B external reserve, he didn't fix anything instead he was busy Sharing to fellow thief.

I don't believe in Buhari nor Tinubu nor 👿 Obi himself.

They are all alike. If you read animal farm by George Orwell, you will understand. It is merry go round



Amaechi, Fashola and Oshomole forced him to spend the money.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by casig: 7:58am On Apr 19, 2023
blackpanda:


Even in south africa it's about $3 per liter (N2250)

Are you aware of what is called PURCHASING POWER PARITY (PPP)? Just asking o, no offence intended.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by daramolaj1: 8:43am On Apr 19, 2023
Are you earning like this in south Africa? this will only attract many people to poverty cos the earning power in Nigeria low. Calculate the number of people who earns less than 250k and driving a car.

blackpanda:


Even in south africa it's about $3 per liter (N2250)
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by vhykeeytor(m): 10:17am On Apr 19, 2023
blackpanda:


so how much is the minimum wage in south africa, since you know
You start blabbing with question which you have no answer, then jump into conclusions.

Google is your friend but since you can't get it, I would help you cure your ignorance.

The Department of Employment and Labour has also published the new National Minimum Wage for South Africa. The minimum wage of R23,19. That's over 550 naira per hour. Let's assume the minimum working hours for a day is 8hours. That 550 * 8 = 4,400 per day. If you are making 4,400 naira per day. A liter of fuel in South Africa is 34 rands. Working for 2 hours in South Africa, would buy you a litre with change. Minimum wage in Nigeria is 30k i.e 1k per day. Divide 1k by 8hours a day, it will give you 125 naira per hour.
Also bear in mind that South Africa is not an Oil producing country like Nigeria.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:41am On Apr 19, 2023
kutashi:
I think Tinubu want to bring back Commodity price board for regulation.

If that worked, I think after some months, things will be better and the poor and the 'mekunu' will be adequately protected.

In your dreams
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:43am On Apr 19, 2023
wink
ChybuzzDD:


The more gullible and ignorant people like you talk, the more you annoy some of us.

What are you going to do with this subsidy money that you couldn't do with all the money from the oil booms over the years?

Do you know the kind of subsidies the Arabs who have this same oil as Nigeria enjoy?
I have worked in Arab and i know how these guys benefit from their own oil.

Why is that of Nigeria different?
The simple answer is corruption!
Now, will this corruption go away simply because subsidy has been removed?
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:44am On Apr 19, 2023
jonnex:


I wish to buy a bicycle, that is the alternative.
I can sell to you if interested
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:45am On Apr 19, 2023
owem19:
Thunder from hell destroy your generation awon tax increase collector
it's happening already watch as almost everything you but would be taxed.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:47am On Apr 19, 2023
Nooner:
If fuel sells at 750/litre, everybody will feel it, most people will end up using their money to buy fuel to power generator, cars, and companies will be affected because we don’t have stable electricity. In countries where the fuel price range from $1/litre above, they have 24hrs lights and only need fuel for their cars and machinery/equipments..
Use solar inverter system na! Let me be your plug for everything solar and bicycles
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:49am On Apr 19, 2023
Winters23:


You sound too enlightened not to know dangote refinery is already on stream, update your knowledge ASAP cheesy
it's currently running at 70% capacity, they are already loading at the refinery
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:49am On Apr 19, 2023
treatise:

It's N450 max using the dynamics of the past few years
800 per liter get ready
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:50am On Apr 19, 2023
Gaskiya77:
The use of bicycle come to mind. That will keep me sportish indeed.
I sell bicycles what type do you need
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 10:54am On Apr 19, 2023
Tareq1105:


Yes, we expect Dangote refinery to come up to assist and that's why Fed Govt bought into it, and this was achieved by buying 20% of its shares, and signing agreement to sell 650,000 barrels per day of crude oil to Dangote refinery in Naira while Dangote refinery would also sell to Nigeria market in Naira in return and not in Dollars.

I can see our currency (Naira) regaining its strength bcoz according to NBS, 65% of our foreign exchange earnings is spent on importation of fuel.

In addition, the Tinubu that I know would make a very big difference in the running of the economy.

I said this bcoz, right from the time of Obasanjo, Fed Govt watched industries folding up without assisting them to survive. The resultant effect is the unemployment we're witnessing today.

Tinubu has recovery plans for our ailing industries and to bring in others to establish industries.

May God guide our leaders to the path of a prosperous Nigeria.
You think Abuja is Lagos, I dey laugh you
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by treatise: 11:33am On Apr 19, 2023
IyaTola:
800 per liter get ready
I will go and buy strong plastic footwears then grin

1 Like

Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 11:36am On Apr 19, 2023
treatise:

I will go and buy strong plastic footwears then grin
Oga buy bicycle na
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by treatise: 11:53am On Apr 19, 2023
IyaTola:
Oga buy bicycle na
Great suggestion grin

1 Like

Re: What Might Happen To Nigeria Currency After Subsidy Removal? by IyaTola: 11:57am On Apr 19, 2023
treatise:

Great suggestion grin
Road Bicycle
Size 24 80k
Size 26 85k
This is exclusive of delivery.
Or you use DriveinHud app on Google play store
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by kutashi: 12:30pm On Apr 19, 2023
IyaTola:
In your dreams

Really?
By the way, are you not the that copied another person's story and doctored it?

You're who you be!
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by jay169: 1:53pm On Apr 19, 2023
The poor will die... There's no point getting poorer. But it will definitely worth it.
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Perfectbeing(m): 3:08pm On Apr 19, 2023
jkpbestseries:
Why not build our own refinery if an individual can
Government should have no business doing business..

Also, what is the economic importance of FG building an additional refinery when Dangote is already building a 600k barrels per day and FG already has a combined capacity of 445000 barrels per day.
That's already over a million barrels per day.

That's waste of money to me.

1 Like

Re: What Might Happen To Nigeria Currency After Subsidy Removal? by owem19(m): 7:10pm On Apr 19, 2023
cry cry lipsrsealed embarassed
IyaTola:
it's happening already watch as almost everything you but would be taxed.

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