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Nairaland Forum / Nairaland / General / Politics / Exchange Rate: NECA, Experts Disagree On FG’s Target (13574 Views)
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Exchange Rate: NECA, Experts Disagree On FG’s Target by treesun: 8:08am On Nov 09, 2023 |
LagoS — Against the backdrop of indications that the Federal Government is putting in place measures to achieve exchange rate target of N500-N600/$1, while reorganising the banking sector, various private sector institutions and financial experts have expressed divergent views over the feasibility and the benefits of the goals. https://www.vanguardngr.com/2023/11/exchange-rate-neca-experts-disagree-on-fgs-target/ 1 Like |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by taylor89(m): 8:12am On Nov 09, 2023 |
Exchange rate wey go soon drink viagra high again Can’t wait for it to hit 3k per dollar 24 Likes 2 Shares |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by OPICANTO2223: 8:30am On Nov 09, 2023 |
I wish someone will also advise Dapo to sit up. |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by bigdammyj: 8:30am On Nov 09, 2023 |
Reading... |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by Yankiss(m): 8:31am On Nov 09, 2023 |
Please, whatever the implications, let us achieve the exchange rate first of 500/600 naira to 1 usd which is still high and unacceptable. Agreed that increased domestic production and exports is imperative. We pray for the success of the Tinubu govt. His success is the success of all Nigerians. So, help us God. 15 Likes 6 Shares |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by CooldipoMPS: 8:31am On Nov 09, 2023 |
My battery business dey hear am, profit margin keeps getting narrowed and there is no local coy or alternative yet that produce lithum iron phosphate battery. 1 Like 1 Share |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by OPICANTO2223: 8:31am On Nov 09, 2023 |
Everything from APC is lie. If you are told they are going to develop Nigeria, it mean they will destroy Nigeria. Everything is opposite of what they say. Check it 13 Likes 3 Shares |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by M0H247: 8:32am On Nov 09, 2023 |
Float Naira completely, stop backing Naira with Oil money, that's subsidy 5 Likes 1 Share |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by Ebukamatth(m): 8:33am On Nov 09, 2023 |
. |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by iykepromotions: 8:33am On Nov 09, 2023 |
Nigeria need to be a productive county first not totally relying on foreign products 4 Likes |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by Razzifani: 8:36am On Nov 09, 2023 |
Smh this is bad |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by lsoul: 8:39am On Nov 09, 2023 |
another story |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by ATEAMS: 8:40am On Nov 09, 2023 |
Do something!!!!! |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by Lanretoye(m): 8:41am On Nov 09, 2023 |
[b]NECA reacts Reacting to this hint, the Nigeria Employers Consultative Association, NECA, and economy experts commended the idea but urged the working policy plans should be disclosed and made clear. They added that government should focus on local production, address the nation’s propensity to import, make the fiscal and monetary policy authorities work in sync among other things, before dreaming of a lower exchange rate. Commenting, NECA’s Director-General, Mr Adewale-Smatt Oyerinde, urged government to deepen engagement with organized businesses with the view of building greater consensus and support for the on-going reforms. Oyerinde stated: “We note the plan by the Government to shore up the value of the Naira to between N500 and N600 to a Dollar in 2024. This plan is quite commendable and ambitious. “While we commend the plan, it is instructive to note that this will require deliberate and focused plan of action to address the shortfall in Dollar supply”. How they intend to do it is still unclear —Amolegbe Olatunde Amolegbe, immediate past President of Chartered Institute of Stockbrokers, CIS, said though he has not seen any working paper on how the exchange rate goal will be achieved, he wondered how they would achieve it. He stated: “Though I have not seen where they stated this, how they intend to do it is still unclear to me. We certainly do not have enough information that points to how this will happen in the medium term”. Govt should not be giving exchange rates targets —Nwizu Also reacting, Nnamdi Nwizu, of Co-Founder, Comercio Partners Limited, said: “ It is good to see the fiscal and monetary policy authorities working in sync. We have not seen that in a while. “However, we need them to shed more light on actions being taken and how they intend to use them to strengthen the economy and ensure we have more exports to help the currency. “I am not sure that a reorganisation of the banking sector alone can bring about the stability we seek. We need to see a lot on the fiscal side for that to happen. “I also do not think government should be giving exchange rates targets.” It will lead to fall in inflation in the long run —Kurfi Mallam Garba Kurfi, Managing Director/CEO, APT Securities & Funds, described the proposition as a welcome development, saying it will lead to a fall in inflation rate in the long run. He stated: “It is a good development and we will wait to see the plan. If the apex bank decided to do that it is good since they are the most realisable sources of FX. In this context, they are referring to restructuring the banking system for a desired result”. He further said: “It is a welcome development and if they can achieve that, our inflation will come down because it is cost-push inflation. “With that, achieving $1 trillion Gross Domestic Product, GDP, as the President promised, will be possible. We will wait to see the monetary and fiscal policies that will make that achievable.” [/b] Economic saboteurs |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by adesegun121(m): 8:43am On Nov 09, 2023 |
Ok |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by Calitoscassius(m): 8:44am On Nov 09, 2023 |
They are subsiding naira, no subsidy on petrol anymore, the new subsidy is now on naira. Let the bloody naira fall to it useless value of 3000 or 4000 to 1!$ it may even be good for the economy and the naira If they keep propping it they will run out of $$ eventually then what? 2 Likes 1 Share |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by excanny: 8:48am On Nov 09, 2023 |
taylor89: It will lead to rise in cost of living and whatever gains you made with dollar will be wiped off. 3 Likes 1 Share |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by APCNig: 8:51am On Nov 09, 2023 |
Work in progress. This is the first time a business man is leading the country. He is a Mafia Lord. He knows the tricks because he is among the Cabal holding the nation. He is an old friend of several crook world leaders and crook international financial institutions. He knows how to bring them all together and achieve his aim and objectives of a better Nigeria 2 Likes |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by Calitoscassius(m): 8:55am On Nov 09, 2023 |
excanny:Maybe, but 3000 is where it is heading if not more than that. Naira hss never had any value, what they were doing was propping it snd that is what Tifnubu government is doing at the moment. When they run out of propping money eventually the naira will nose dive biggly. 2 Likes 1 Share |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by iwaeda: 8:55am On Nov 09, 2023 |
treesun:Tinubu men like Tope lieing more than lie. You know most of them are empty, but just noise makers. Dollar will gain over naira, as long our politicians live luxuriously from imported goods. 3 Likes 1 Share |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by APCNig: 8:55am On Nov 09, 2023 |
excanny: Okay. Can you post your educational certificates in Economics and Financial Management so that you can prove that you know more than all the financial experts in Tinubu's Economic Team? If you cannot prove that, please shut the fucck up, or go and drink Sniper Humanicide |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by MindOnMatters00(m): 8:56am On Nov 09, 2023 |
taylor89: I mount with you. |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by APCNig: 8:58am On Nov 09, 2023 |
taylor89: Na your family go suffer most 2 Likes |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by MindOnMatters00(m): 8:58am On Nov 09, 2023 |
M0H247: Please sound it loud let them hear. |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by Vadese1: 8:59am On Nov 09, 2023 |
APC said it 8yearss ago. To make one dollar to phone naira. Maybe this is the second version of the promised |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by Calitoscassius(m): 8:59am On Nov 09, 2023 |
APCNig:Sounds very pleasant and comforting what exactly does this mean realistically? Try explaining in simple terms please? 1 Like |
Re: Exchange Rate: NECA, Experts Disagree On FG’s Target by designking: 9:00am On Nov 09, 2023 |
You want to know their plans so that you can sabotage it abi? |
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