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Concerns As Naira Emerges Worst Performing African Currency In 3 Months - Business (6) - Nairaland

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Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by MT: 12:02pm On Sep 01, 2023
SmartPolician:


The response to your question will be like a lecture of 24 hours or an entire textbook.

First, maintain the status quo; don't float the naira yet. After all, he has already removed the petrol subsidy and the burden is now on the people now.

Short term

Flag off a massive buy made-in-Nigeria-product campaign across the country. However, you must practice what you preach. Ban all MDAs from using imported vehicles - they should patronise only vehicles made in Nigeria. It will save this country a lot of FX.

Those who can access FX from banks must only be for business purposes. People who are not known to be genuine importers should go to the black market. Airline operators and parents paying school fees abroad can also access it because for the airlines, you are subsidizing the industry. For the parents, it's an investment that will pay in the future because those kids will form a buck of Nigerians who live abroad and send remittances to their families in Nigeria. See, leadership na common sense.

If other arms of government see the executive taking this step, their conscience will keep pricking them until they follow suit. If they don't, visit the national assembly. Engage them and tell them to do the same. Do the same whenever the judiciary has major events and invite you. When Buhari started his buy made-in-Nigeria-product campaign, Saraki started wearing clothes made in Aba. Our military was ordering shoes made from Aba. See, leadership at the top is everything. They stopped when they realised that Buhari wasn't serious; he was not leading the campaign by example.

Engage the media, fund national orientation agency and ministry of information. They should go to the markets, malls, schools, churches, mosques, etc to enlighten people about why they should start patronising products made in Nigeria.

Long term plan

Boost Nigeria's power generation capacity and transmission capacity. Invest massively in road infrastructure. Grant 5-year tax breaks to startups. Fund Bank of Industry so they can support SMEs across the country.

Visit major gas companies around the world and invite them to come and harness Nigeria's gas reserves. Nigeria can make billions of dollars per annum from this.

Find out why Nigeria isn't meeting her OPEC quota in crude oil export and make sure the challenge is fixed. Lobby OPEC to increase Nigeria's crude oil sales and bring in more USD into the country.

Invest in cash crops and ensure that the agencies that make them meet international requirements for exportation enlightens local farmers to meet these requirements. Deploy the military in the north and declare state of emergency in LGAs where terrorists don't let people farm in northern Nigeria. Dead or alive, you must be in charge of your country. That's why you are paying a bunch of security operatives. Everyone must justify their pay.

Get a vibrant minister of information. He should engage the people through the media so they know what steps the government is taking to improve the country because many people are not enlightened. There's a reason the White House Press Secretary always holds media briefing. People need to know what the government is doing.

Bros, in four years, these bold steps will start yielding results. When you win your reelection, float the naira that time.

I can go on and on. Believe it or not, it's either Bola Tinubu has no leadership ideas or he is just here for business as usual. Either way, I am not convinced he knows what he is doing.

Nice submission and this is the kind of matured discourse I hope Nairaland can promote.

However, what you stated in your short term will not help the naira. You typed in your earlier post that Nigeria is heavily import dependent. So, if you consider the volume of daily transaction being consumed by importers, students, airline etc, you will understand that Naira will still be under immense pressure.

You also stated that removing the subsidy has put pressure on Nigerians and make them poorer. Yes I agree. However, with your short term plan, the gains made by Nigerians as a result of the fuel subsidy will still be used to subsidized the dollar demands of those you advised should access the Fx via banks.

Regarding the students being a future investment and sending remittances home. I disagree. Yes they send remittances home but not through the CBN. Remember going by your proposed policy, students get subsidised dollars through the Central Bank, which means they get it on the cheap. They are not loyal enough to re-channel and repay the country bank by sending the remittances via the Central Bank. They go to black market to get higher value for their remittances. How does this benefit the nation, having subsidised them when they are travellling abroad for studying.

Your long term plan fails to consider something critical. You build all your plans round the presidency. The presidency will need to send money to these state governors to get things done in their respective states. What happens if that money is looted by the state governors. We just saw an example of that in the palliatives money sent to the state Governors. What did they do with it? They have started looting the money. Will you still blame presidency for that?

I will still like to read your rebuttal. Thanks

1 Like

Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by igwefivestar(m): 12:07pm On Sep 01, 2023
accordadoga26:
Hmmm.

To all TRULY patriotic Nigerians, please don't lose hope. Nigeria will be great again
I have been hearing this for past 12 years now
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by PotatoSalad(m): 12:13pm On Sep 01, 2023
Parachoko:
Okay Boy
The undisputed smoothest brain
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Parachoko: 12:33pm On Sep 01, 2023
PotatoSalad:

The undisputed smoothest brain
k
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Manofsteel2013(m): 12:53pm On Sep 01, 2023
I feel like..... Just let me shut up. Hmmmmm I
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 12:59pm On Sep 01, 2023
LegacyB:

Ok your choice your opinion. My choice my opinion.
Now I see we agree on that. So probably before you quote someone next time you would remember that.
And another Opinion I would like to remind you is that Obi is a fraud and can never be President of Nigeria. Regards

I don't expect anything else from you. This is literally what you were paid to do
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by STEWpid(f): 1:07pm On Sep 01, 2023
Ozommadu:


Ewu

You need help

Useless "Akpa Akpu".
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by LegacyB: 1:09pm On Sep 01, 2023
Programmer47:


I don't expect anything else from you. This is literally what you were paid to do
Oh I would be glad if am actually paid to defend a good government but not this one at least not now cos they aren’t performing. And am too bless to do that for this government. But I would never be beclouded to join the empty Obi train. Where only utopian dreams are sold.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Ozommadu: 1:12pm On Sep 01, 2023
STEWpid:


Useless "Akpa Akpu".

Hopeless oju eja
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by InvertedHammer: 1:13pm On Sep 01, 2023
/
"False Hope"merchants will start selling hope to the gullible masses. Under Buhari, the hope didn't mature in 8 years after multiple big promises. They will ask them to pray and tighten their belts while Legislatures and Executives dish out largesse to themselves. grin E go better na im kept Nigeria in abyss since 1960.
/

1 Like

Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 1:29pm On Sep 01, 2023
LegacyB:

Oh I would be glad if am actually paid to defend a good government but not this one at least not now cos they aren’t performing. And am too bless to do that for this government. But I would never be beclouded to join the empty Obi train. Where only utopian dreams are sold.

There is a massive cognitive dissonance between what you claim and what you say.
In one sentence you claim Obi is a fraud. In the next sentence , you speak of Tinubu?
Make it make sense.

Even supporting APC after 8 years is enough reason to question your mental faculties.
But oh well, it is what is at the end of the day. You'll still hustle for that 30k and I would still say it as it is. I don't even need to insult you or anything that extreme, your conscience will do it for you in those dark moments when clarity is unavoidable.
Enjoy your pay joor. It is well with your soul
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by LegacyB: 1:33pm On Sep 01, 2023
Programmer47:


There is a massive cognitive dissonance between what you claim and what you say.
In one sentence you claim Obi is a fraud. In the next sentence , you speak of Tinubu?
Make it make sense.

Even supporting APC after 8 years is enough reason to question your mental faculties.
But oh well, it is what is at the end of the day. You'll still hustle for that 30k and I would still say it as it is. I don't even need to insult you or anything that extreme, your conscience will do it for you in those dark moments when clarity is unavoidable.
Enjoy your pay joor. It is well with your soul
That’s the difference. I wouldn’t follow Tinubu blindly, hence I can call him out when he isn’t performing. But you obidient would follow Obi blindly without any emperical facts supporting your assertion. Bright minds know that’s the beginning of a cult which always end badly. I repeat Obi would never be President. Nigerians are wiser than that.
And me voting for Tinubu doesn’t withdraw my right to critique his wrong move anytime. You aren’t more Nigerian than most of Us.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Exceed15: 4:06pm On Sep 01, 2023
hisexcellency34:
Tinubu really disappointed me and many Nigerians who voted for him. This is not what we bargained for. At this point, I'm going for Obi if there is rerun

We have seen what Tinubu offered Nigerians: hardship and sufferings.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Nobody: 4:18pm On Sep 01, 2023
Newborn27:



The increment only affected the government workers....how about we..private workers?


We work like elephant and got meager salary.


We can't truly blame the masses for increasing the cost of their products...no matter what they're selling...they'd also buy fuel..pay school fees and other bills like any other Nigerians.

Depression is on the rise ...hungerbis in town and people do all sort of illicit things to make ends meet.


A cup of rice is now #200-#250


This was the amount I was buying a congo of rice during GEJ regime and people were abusing him then



I learnt dollar is now 900+....which was around 250-300 in GEJ regime

The subsidy he planned removing in 2011 then resulted to massive protest in Lagos then that brought out prominent celebrities then.....today we're buy #800 per litre and everyone is cool about it.


If things can be this rotten within 8yrs...I wonder how our tomorrow would look like.


Many Nigerians are suffering in diaspora... some went to prison..some engaged in all manner of job and illegal acts to stay away from this country... some had even done change of citizenship and refused to be identified as a Nigerian.



The question is...for how long are we going to live like this?



I weep for my dear country! sad
Chai!
The matter don tire man ooo!

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Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by simfrost90210: 4:28pm On Sep 01, 2023
Maobichek:


I won't go on and on, i felt bad after the presidential election, only God and God alone because if a rerun is called, it's still the same set of people so there would be no miracle my brother.


Tinubu's issues are for his outright disqualification and not just for a rerun!

My Brother, if the tribunal calls for a rerun with Tinubu in it, then, this country is doomed and deemed lawless as there shall continually be presence of arbitrary form of governance..
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Maobichek: 4:45pm On Sep 01, 2023
simfrost90210:



Tinubu's issues are for his outright disqualification and not just for a rerun!

My Brother, if the tribunal calls for a rerun with Tinubu in it, then, this country is doomed and deemed lawless as there shall continually be presence of arbitrary form of governance..

Thank you for being sincere.

1 Like

Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 6:03pm On Sep 01, 2023
LegacyB:

That’s the difference. I wouldn’t follow Tinubu blindly, hence I can call him out when he isn’t performing. But you obidient would follow Obi blindly without any emperical facts supporting your assertion. Bright minds know that’s the beginning of a cult which always end badly. I repeat Obi would never be President. Nigerians are wiser than that.
And me voting for Tinubu doesn’t withdraw my right to critique his wrong move anytime. You aren’t more Nigerian than most of Us.

Lmao. Whatever helps you sleep at night. To you governance is a do or die affair hence the mentality of grab it and snatch it appeals to you.
Talking about cult, who is more blind than Apc minions? Blind to all of Tinubu's baggage but actively trying to pin that same baggage on others.
The level of delusion una dey partake in dey boggle the mind at times. To other obidients on NL, simply state your facts and let them do the insults. They were paid to do so afterall.
Nigeria must see the light
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 6:09pm On Sep 01, 2023
simfrost90210:



Tinubu's issues are for his outright disqualification and not just for a rerun!

My Brother, if the tribunal calls for a rerun with Tinubu in it, then, this country is doomed and deemed lawless as there shall continually be presence of arbitrary form of governance..

This is the reason why they are all foaming at the mouth whenever they hear Peter Obi's name these past weeks.
First, they said no structure, that didn't stick.
Then they tried Pandora, that didn't stick as well.
They tried the religious agenda next, that didn't stick as well.
Then they tried tribal sentiments, and unfortunately that was fairly successful.
Not satisfied, they did the famous "Yes daddy" audiocall.
Then tried to frame him with the British airport debacle, that didn't stick also.

All these was just to paint a narrative that Obi is like Tinubu.

One thing that is easily noticed from all this is that they are aware of Tinubu's baggage. Don't be fooled by their selective amnesia.
They all know that Tinubu isn’t fit for the job but the fear of change has them scampering around trying to change the narrative.

Our goal is to never let them change the narrative. These same sets of miscreants watched Yorubas profile other Yorubas because "they looked Igbo".
If you ask them they will tell you it's politics. Bunch of Paid headless mobs

1 Like

Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 6:21pm On Sep 01, 2023
Whenever I remember that Tinubu actually stole Donald Duke's childhood picture, I just laugh.
This is someone that was actually caught laundering money for a drug cartel.
And some clown will come here and talk about credibility and fraud.

Keep deceiving yourselves. When Peter Obi gets into power, that institutional cleanup you fear so much will be done right before your very eyes.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by simfrost90210: 6:31pm On Sep 01, 2023
Programmer47:


This is the reason why they are all foaming at the mouth whenever they hear Peter Obi's name these past weeks.
First, they said no structure, that didn't stick.
Then they tried Pandora, that didn't stick as well.
They tried the religious agenda next, that didn't stick as well.
Then they tried tribal sentiments, and unfortunately that was fairly successful.
Not satisfied, they did the famous "Yes daddy" audiocall.
Then tried to frame him with the British airport debacle, that didn't stick also.

All these was just to paint a narrative that Obi is like Tinubu.

One thing that is easily noticed from all this is that they are aware of Tinubu's baggage. Don't be fooled by their selective amnesia.
They all know that Tinubu isn’t fit for the job but the fear of change has them scampering around trying to change the narrative.

Our goal is to never let them change the narrative. These same sets of miscreants watched Yorubas profile other Yorubas because "they looked Igbo".
If you ask them they will tell you it's politics. Bunch of Paid headless mobs


I'm wondering how the Tribunal want to maneuver their ways past these allegations for Tinubu... This is going to difficult to call for a rerun.. According to the constitution, he should be disqualified outrightly... Jejeli... Ahhh

1 Like

Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by duro4chang(m): 6:51pm On Sep 01, 2023
naturefellow:
TemplarLandry Helinues FreeStuffsNG seunmsg moh247 talented321 duro4chang NLPoliceWoman

Come dedicate a dis jam to Tinubu the mandate thief, or to yourself.
Trash. Obi will never never be president

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Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by LegacyB: 7:12pm On Sep 01, 2023
Programmer47:


Lmao. Whatever helps you sleep at night. To you governance is a do or die affair hence the mentality of grab it and snatch it appeals to you.
Talking about cult, who is more blind than Apc minions? Blind to all of Tinubu's baggage but actively trying to pin that same baggage on others.
The level of delusion una dey partake in dey boggle the mind at times. To other obidients on NL, simply state your facts and let them do the insults. They were paid to do so afterall.
Nigeria must see the light
Well you will be alive to see the country move forward at the end of it all. Forget the Obi story, we can criticize the government to do better . The election train already left the station.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 7:14pm On Sep 01, 2023
simfrost90210:



I'm wondering how the Tribunal want to maneuver their ways past these allegations for Tinubu... This is going to difficult to call for a rerun.. According to the constitution, he should be disqualified outrightly... Jejeli... Ahhh

Rerun where? Omo , it is disqualification outright that is needed. You cannot throw stones when you live in a glass house

1 Like

Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 7:19pm On Sep 01, 2023
LegacyB:

Well you will be alive to see the country move forward at the end of it all. Forget the Obi story, we can criticize the government to do better . The election train already left the station.

You don't have any meaningful discourse when real matters are discussed. Nobody is criticising nada, so you all can form fake activism for who. Keep deceiving yourself.

That Obi that has you running around in circles, you will be alive to witness him turn this country around.
Trying to remove a speck in Obi's eyes when your principal has several logs of wood in his.
And in their puny minds, they believe all this epistles would gaslight people.
One thing I love about this election is that it clearly exposed all Political jobbers for what they are - Sycophants who profit off government PR
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 7:23pm On Sep 01, 2023
Person thief another person childhood picture.
Still be Bagman for drug cartel.
Still be corruption index for a whole country.
Still part of a ruling party that has absolutely destroyed the nations economy.
Still lied that he worked with Deloitte.
His case about the school is still pending investigations and there is a strong indication he also committed fraud there as well.

Still, a human being would ignore all these and start forming faux activist talking about fraud.
Omo, any obedient wey take these sycophants serious, na you know.
The more they insult you, keep stating your facts. They have no facts to push. After all according to them "na statistics we go chop".
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by LegacyB: 7:39pm On Sep 01, 2023
Programmer47:


You don't have any meaningful discourse when real matters are discussed. Nobody is criticising nada, so you all can form fake activism for who. Keep deceiving yourself.

That Obi that has you running around in circles, you will be alive to witness him turn this country around.
Trying to remove a speck in Obi's eyes when your principal has several logs of wood in his.
And in their puny minds, they believe all this epistles would gaslight people.
One thing I love about this election is that it clearly exposed all Political jobbers for what they are - Sycophants who profit off government PR
Bros calm down loosing an election isn’t the end of life for Obi and you is supporter. No go kill yourself for any politician, they do not deserve it. You’re getting high BP for same Obi who moved from APGA , PDP to LP. Lol you will learn. But Obi will never be President even his APGA brothers said this much.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by naturefellow(m): 7:58pm On Sep 01, 2023
duro4chang:
Trash. Obi will never never be president
Tinubu bot.

His presidency would be your death sentence. Be prepared!

1 Like

Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 8:02pm On Sep 01, 2023
LegacyB:

Bros calm down loosing an election isn’t the end of life for Obi and you is supporter. No go kill yourself for any politician, they do not deserve it. You’re getting high BP for same Obi who moved from APGA , PDP to LP. Lol you will learn. But Obi will never be President even his APGA brothers said this much.

Like I said , no intelligent discourse when real matters are discussed. They keep on repeating the same drivel over and over hoping it will stick.
Like I said before , and will still say, no man is God. Mr Peter Obi will be your President and you will be alive to witness this country transform into what it is meant to be.
Go tell your media team that the tactics is no longer working.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Fujiyama: 8:41pm On Sep 01, 2023
EleventhWeirdo:
Naira is undergoing reforms and will come back stronger and most liberal.

^^^
grin

More detail needed. Explain further.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by LegacyB: 8:54pm On Sep 01, 2023
Programmer47:


Like I said , no intelligent discourse when real matters are discussed. They keep on repeating the same drivel over and over hoping it will stick.
Like I said before , and will still say, no man is God. Mr Peter Obi will be your President and you will be alive to witness this country transform into what it is meant to be.
Go tell your media team that the tactics is no longer working.
If you know their address or contact I might help you with that message. But you have to send it to me first. But come to think of it Obi was even just merely the 2 nd runner up oooo. What if he was the first . You go explode?
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by LegacyB: 10:27pm On Sep 01, 2023
Programmer47:


Like I said , no intelligent discourse when real matters are discussed. They keep on repeating the same drivel over and over hoping it will stick.
Like I said before , and will still say, no man is God. Mr Peter Obi will be your President and you will be alive to witness this country transform into what it is meant to be.
Go tell your media team that the tactics is no longer working.

Lol keep dreaming. Tinubu’s 8 years will be complete.
Maybe by then you’ll have seen the light or still continue in your utopian dream. Obi won’t even be Vice President. Well he may be the President of your association. Association of Angry Birds.
Lol……. Your Brothers in APGA already laid a curse on him. And yes no man is God . So Obi should quite playing God. God hates fake people like him.
Honestly if you know how to link me up with Tinubu’s media team. I won’t mind joining them for free but even if Obi’s own pay me I won’t join for any amount.
Re: Concerns As Naira Emerges Worst Performing African Currency In 3 Months by Programmer47: 10:40pm On Sep 01, 2023
LegacyB:


Lol keep dreaming. Tinubu’s 8 years will be complete.
Maybe by then you’ll have seen the light or still continue in your utopian dream. Obi won’t even be Vice President. Well he may be the President of your association. Association of Angry Birds.
Lol……. Your Brothers in APGA already laid a curse on him. And yes no man is God . So Obi should quite playing God. God hates fake people like him.
Honestly if you know how to link me up with Tinubu’s media team. I won’t mind joining them for free but even if Obi’s own pay me I won’t join for any amount.

Lmao. Dey play. I just dey laugh because this is the exact same format on Twitter.
Whatever makes you sleep at night Oga. If you like talk say Tinubu go rule 16 years, na you get your mouth.
All I pray is, let God keep you alive to witness a true humanitarian in government.
Tell your BMC team that Nigeria has rejected both their fraudulent candidate and their gaslighting techniques.

Omo, to my fellow Nigerians, all eyes on the Judiciary. There is no loophole for them to escape with, not even on the technilaties that they're hoping on.
Nigeria must be great again whether the Political caucus likes it or not

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