₦airaland Forum

According to a post by PDP's Senator Ben Murray Bruce on X:

The Naira is finding its proper and natural value because the Central Bank of Nigeria has stopped the practice of defending the Naira with $1.5 billion monthly.

If you want the Naira to rise, don't come on social media to vent. Instead, it would be best if you now defended the Naira by

coming on social media with Glo data.
Coming to Silverbird Cinemas to watch Nollywood movies.
Shifting from Manchester United and Real Madrid to Enyimba FC and Kano Pillars.
Eating Dangote spaghetti and washing it down with Chivita juice,
and flying home for Christmas and New Year with Air Peace.

Only when we #BuyNaijaToGrowTheNaira will the Naira appreciate, not when we come on social media to vent.

Buy Innoson, Nord Automobiles, Proforce e.t.c. instead of Toyotas, Lexus', Mercedes e.t.c.

Useful idiots with no brains. Where the above listed useless things being done during Jonathan's government? During GEJ time, didn't all you cesspit inhabitants have choice of what you buy and consume? These fools that are afraid of truth of voicing out the fulanis and yoruba misgovern can't say the truth because of fear. Clowns everywhere. Well, Biafra will soon solve this problem. Simon Ekpa, ride on.

I am glad this statement was made by a PDP chieftain.

Raskimonojendor:
Buy Innoson, Nord Automobiles, Proforce e.t.c. instead of Toyotas, Lexus', Mercedes e.t.c.

Ben Bruce is now your friend again? Typical agbado.


You should tell ebola that spent $200k on Us hotel and ashawo to patronise Nigeria made too.

Your rep members made purchase of SUVs at the rate of #120million each...you went missing on that thread oo.

Hypocrite

Ozommadu:
Ben Bruce is now your friend again? Typical agbado.


You should tell ebola that spent $200k on Us hotel and ashawo to patronise Nigeria made too.

Your rep m

He was never my friend. He is the common sense Senator, and he is still dishing out common sense to those that care to listen.

Ozommadu:
Ben Bruce is now your friend again? Typical agbado.


You should tell ebola that spent $200k on Us hotel and ashawo to patronise Nigeria made too.

Your rep members made purchase of SUVs at the rate of #120million each...you went missing on that thread oo.

Hypocrite

Look at the large amount of agbados that liked his comment on twitter.

I am sure LP HOR members did not reject those N120 million each SUVs.

Even if una do all these Naira will still go up…

No be Nigeria agian..

Reno na economic illiterate…

Nigerians are trying when it comes to buying Nigerian made things…

Corruption is the biggest problem here..

Some countries import 100x more than us and still do beta than us..

Our politicians and businesses men are trying to scam us with this import stuff..

Reno na fool…

Raskimonojendor:
He was never my friend. He is the common sense Senator, and he is still dishing out common sense.

Tell your common sense senator and ebola to fix refineries...poor Nigerians are not the cause of dollar rise.

Your drug lord cluelessness is the cause.

Ozommadu:
Tell your common sense senator and ebola to fix refineries...poor Nigerians are not the cause of dollar rise.

Your drug lord cluelessness is the cause.

Q1 2023 is Buhari era. Still why do we import stuffs like filters, used vehicles e.t.c.

Nigerians can always buy Nigeria pre-owned vehicles instead of foreign used. You don't see Americans importing used cars from Europe.

opamoses1:
Look at the large amount of agbados that liked his comment on twitter.

I am sure LP HOR members did not reject those N120 million each SUVs.

Carry your frustration to the rep members and ebola.

Leave ordinary Nigerians alone

Ozommadu:
Carry your frustration to the rep members and ebola.

Leave ordinary Nigerians alone

So the LP HOR like the Okada rider Obidients sent to the house is no longer an ordinary Nigerian again bah.
We hear you.

opamoses1:
Q1 2023 is Buhari era. Still why do we import stuffs like filters, used vehicles e.t.c.

In America, you can always buy Nigeria pre owned vehicles. You don't see Americans importing used cards from Europe.

Is PMS and gas oil not still imported today? Why can't your ebola fix the refinery??

Stop being ridiculous

opamoses1:
So the LP HOR like the Okada rider Obidients sent to the house is no longer an ordinary Nigerian again bah.
We hear you.

How many LP rep members are there?

How many APC rep members are there??

Are APC rep members not in the majority??
Why single LP minorities?

Ibrahimcoomasie:
According to a post by PDP's Senator Ben Murray Bruce on X:

It's the $1.5Billion monthly for me. That's crazy and stupid.

Common sense.

Ibrahimcoomasie:
According to a post by PDP's Senator Ben Murray Bruce on X:

there are some items we don't have local alternatives for and some we have locally but not enough of or not good enough. Batteries. Phones. Earpiece, TV. Radios, washing machines, electric vehicles, computers, clothes, fabric, shoes, petrol, diesel, gas, fertilizer, industrial raw material.

This oyibo pepper refused to tell us that the SVCs donated to the national assemble members are locally made.

Ozommadu:
Tell your common sense senator and ebola to fix refineries...poor Nigerians are not the cause of dollar rise.

Your drug lord cluelessness is the cause.

If PMS importation alone is stopped, the naira can get stronger to N500/$ in 12 months time.

Add No. 2 & 3 and it can go further but we need huge import substitution to get there.

Raskimonojendor:
Buy Innoson, Nord Automobiles, Proforce e.t.c. instead of Toyotas, Lexus', Mercedes e.t.c.

Tell dem woooo !
Our legislators no gree buy innoson SUVs loooo

Mad people

Nigeria get money... but it stops at the top...unlike UAE, America, Europe... there's a program to make sure the money trickles downwards...
What's the use of coming from a rich country and dying of hunger?

Macdeey:
Tell dem woooo !
Our legislators no gree buy innoson SUVs loooo

Gbam!

The government needs to look inward too. Change should ideally start from there.

You try to explain economics and the drivers of currency valuation to many of them, they abuse you and tell you when Jonathan was there dollar was this and that.

The truth is, many find the whole thing too complex to understand.

Tell them we need to move away from importing everything under the sun and try to produce more of what we eat and use locally...they abuse you

They just want naira to magically increase in value.

The previous government was spending over $1 billion per month to artificially keep the Naira's value high.

The current government came into power, saw that there was no money to continue that policy, and made the right decision not to subsidise the naira at such high cost.

After Buhari left, JP Morgan disclosed that Nigeria only had about $3 billion left, and not the $37 billion Emefiele and Buhari told Nigerians.

If you have $3billion, how are you going to be able to pay $12billion per year to keep naira 's value at around N500 to $1?

Borrow at least $9 billion annually just so we can import a lot of nonsense that are not essential?

If this current policy means a big reduction in importation of Brazilian/peruvian hair, great!. Or 30 different types of imported breakfast cereals, and all the other non-essential imports, fantastic!

Didn't we use to eat local food like yam, beans etc before going to school or work in the past. Why do we need ordinary cornflakes to be imported from all over the world?

Didn't women use to do traditional airstyles like Shuku, corn Row etc Those who need Oyinbo wig, Brazil air should go and buy dollars for N1500 or more at the black market. That's their personal business.

The government should focus exclusively on finding practical solutions to Nigeria 's long term problems and ignore noises about black market rate.

The hypocrites paid dollars to twitter for verification badge.

They should patronize nairaland.

We don't buy mtn airtime with dollars.

The duo avoided 'buying locally refined petrol and diesel' for obvious reasons. They support babablu bulabu.

All motor transport owners, okada, keke are Nigerians and Nigerians patronize them.

If I was the president of Nigeria, here's what I would do to fix the naira fluctuation issue.

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.

Nairaland should start paying me for sharing my ideas here. Nigeria will experience a massive transformation when someone like me gets the opportunity to lead. We elect the worst among us to lead

DeLaRue:
You try to explain economics and the drivers of currency valuation to many of them, they abuse you and tell you when Jonathan was there dollar was this and that.

The truth is, many find the whole thing too complex to understand.

Tell them we need to move away from importing everything under the sun and try to produce more of what we eat and use locally...they abuse you

They just want naira to magically increase in value.

The previous government was spending over $1 billion per month to artificially keep the Naira's value high.

The current government came into power, saw that there was no money to continue that policy, and made the right decision not to subsidise the naira at such high cost.

After Buhari left, JP Morgan disclosed that Nigeria only had about $3 billion left, and not the $37 billion Emefiele and Buhari told Nigerians.

If you have $3billion, how are you going to be able to pay $12billion per year to keep naira 's value at around N500 to $1?

Borrow at least $9 billion annually just so we can import a lot of nonsense that are not essential?

If this current policy means a big reduction in importation of Brazilian/peruvian hair, great!. Or 30 different types of imported breakfast cereals, and all the other non-essential imports, fantastic!

Didn't we use to eat local food like yam, beans etc before going to school or work in the past. Why do we need ordinary cornflakes to be imported from all over the world?

Didn't women use to do traditional airstyles like Shuku, corn Row etc Those who need Oyinbo wig, Brazil air should go and buy dollars for N1500 or more at the black market. That's their personal business.

The government should focus exclusively on finding practical solutions to Nigeria 's long term problems and ignore noises about black market rate.

God bless you. I don't know why your very sensible explanation here is so difficult for some people to understand.

LikeAking:
Even if una do all these Naira will still go up…

No be Nigeria agian..

Reno na economic illiterate…

Nigerians are trying when it comes to buying Nigerian made things…

Corruption is the biggest problem here..

Some countries import 100x more than us and still do beta than us..

Our politicians and businesses men are trying to scam us with this import stuff..

Reno na fool…

Name some of these countries.

ElSudani:
Name some of these countries.

Every Arab country..
Some eastern Eroupe countries, including Russia..

Our North African countries..

South Africa…


Bahamas, all those countries in those regions..


The main problem is not importation, it’s corruption and miss management..

Our politicians and businesses men are just using the importation narrative to play us..

Nigeria is even importing very, very less cos Nigerians don’t have money..


Importation contributes just a little to our problem, cos Many countries import too….

Even the advanced first world countries..


Nigeria has the largest economy in Africa despite our flaws…


Does that ring a bell?

We Dey try for manufacturing than most countries we admire..

Ibrahimcoomasie:
According to a post by PDP's Senator Ben Murray Bruce on X:

I prefer “Genesis” cinema🌚 to silverbird then Honeywell spaghetti to dangote🌝

Automobile, nerd is trying but Inosson is baba for now

Senator common sense on the beat🕺