₦airaland Forum

Acidosis:
E no go ever better for the Nigerian government sha

You are paying subsidy and your people still buy fuel for 650 per litre? Awon ex-CORNvicts.

lexy2014:
That isn't what I asked you.

Do you mean the strategy is to be making blunders left right centre?

What is the strategy?

Kukutente23:
Was it not the same subsidy removal and "floating" of exchange rate that spiked inflation?
Why do you enjoy making funny excuses for govt?
You can't have it all. You can't devalue your currency and still expect inflation to be tamed

Poanan:
What is swap what is earnings. Don't say what u don't know. The part that is swapped does not earn dollars

LordAdam16:
It is a combination of reasons.

The bottom line though is that he naively expected the FX rate to fall at first to its current rate, then strengthen over time to 600-650.
If that had happened, we'd be having a different conversation.
Obviously that did not happen, so he bears full responsibility for the error.

-Lord

Treadway:
https://www.bloomberg.com/news/articles/2023-08-09/nigerian-naira-drops-to-record-as-black-market-dollar-rate-soars

We warned and warned, but y'all didn't listen. The chimps up there have learnt nothing from 2015/2016 when Buhari made this same shitty call to remove subsidy and float naira in one fell swoop in a country like Nigeria. Now they have successfully FAILED, yet again. A move from officiall/parallel rates of 450/720 to 750/1000(in a few days) is a very successful FAILURE. Smh

Eriokanmi:
Oga oo. Aren't you tired of being deceived? You guys tagged the information fake news a few weeks ago when the information first leaked out. Nigeria won't move forward if you keep defending this party's lies.

I remember in 2015, buhari said subsidy was a scam and he'd never pay it. Later, he begged Nigerians to be patient as things would soon improve so, we should allow him increase pump price as he's not paying subsidy.

Later, he increased it again and people began to react. They now said they were paying something but not subsidy per se. You should stop defending this madness cos you'd not be spared in the consequences of their lies.

When some of us condemned the sudden and utter removal of the subsidy when Tinubu came, you guys said it was the right move and now, we're suffering the consequences. Meanwhile Angola, another oil rich nation only did partial removal but before they did, they had provided palliatives like gej did years back. You know what the dollar is saying now

vannessa7:
This is a welcome development, a flexible government, not a rigid die hard dictator who will not change his mind no matter what . Tinubu is sensitive to the need of the populace, a listening president, I'm sure he will do more adjustment as he gets well settled in his role as the president and as the challenges come up. One of the greatest quality of a good leader is flexibility and listening ear.
As for all the audio president on here spewing trash they believe they are the only one with brain and can fix everything if elected as president but until they get their then they will realise leadership of a country is not beans, I wonder why they think anyone will deliberately make policies that will not work. Only those who wear the shoe know where it pinches. Afteral it's partial subsidy not full scale for those who prefer no subsidy at all.

FOJEM:
Vanessa7, shebi una dey shout say subsidy is gone forever ni?
Wetin come happen again?
When people dey give informed analyses based on experiential knowledge, understanding and wisdom, una dey yab Dem. No be so?
Kwantiniu!!!!

EmirofAfonjaz:
Send your worthless advice to your support base of agbado idiats.

I dont need your foolish patronage..spits

grandstar:
You made a good point.

However, inflation was already high before Tinubu took office. The inflationary environment made it easy for price increases to be easily passed on to consumers without restraint.

Sanusi revealed that Buhari led CBN printed 22 trillion Naira.

In a much tamer inflationary environment, businesses and government would assume some or even all the price increases. It won't be passed over to the consumers, keeping inflation in check

The Swiss franc may lose 15% of its value and prices would still stay relatively static. The Norwegian currency lost about 27% of its value when oil prices collapsed in 2015, yet did not lead to a hike in prices.

Also, ending the fuel subsidy and ensuring the Naira value was market driven should have lead to a rise in the Naira's value. Rather, it went South. There's market failure somewhere .

Treadway:
I said this multiple times here...see the most recent below in August here



You simply do not remove subsidy and float the naira at the same gaddem time. They attempted the exact thing in 2015/16 and it didn't work. But the leaders no gree learn from history, they and some Nairaland economists from Harvardus. Shioor.

Donaldoni:
The loan is a flop. Only 250m got out.

You guys are spead BS in the name of news a lot.

Acidosis:
E no go ever better for the Nigerian government sha

You are paying subsidy and your people still buy fuel for 650 per litre? Awon ex-CORNvicts.

LIONs don't mingle with GOATs.
They don't eat grass...they devour flesh...

So stay on your worthless lane....

maasoap:
Where did you see advice? Is your brain freezing or in sleeping mode?


You must be thinking that you worth something for being quoted. Lol

OneCandleAway:
If you're dangote will you sit back and watch modular refineries emerge? Too much competition that you cant control.

mrvitalis:
You think modular refinery would be profitable and people never invest?

Lmao you can't make profit with local refineries until fuel sale at least $1.2 ... So that's 1200

Sorry but that's the truth

happney65:
When we told them it cannot work,they were getting angry and tearing their bras on us. Now they don return am again

As it is nonesense in 2012,so is the same in 2023. The government cannot be pushing their ineptitude to the people.

But No,very enlightened and educated people will be supporting nonesense.

Shey una don see it's all a ruse now

Nonesense and Tinubu

EmirofAfonjaz:
LIONs don't mingle with GOATs.
They don't eat grass...they devour flesh...

So stay on your worthless lane....

YouAreNobody:
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The below quote clearly defines these retards:
“Many are destined to reason wrongly, others not to reason at all and some to persecute those who do reason" - Voltaire

baralatie:
With the devaluation of the naira.it meant the fg earns more naira to ots purse

BIZNess123:
Strategies usually have set backs

Dreal1247:
One chance Government. Why not assist local refineries? Why not encourage modular refineries?

maasoap:
The silent reintroduction of subsidy is what made the price to remain at current price. They are not paying subsidy to reduce the price but to prevent the price from going higher than it is at the moment.