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Nairaland Forum / Nairaland / General / Politics / Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc (792 Views)
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Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by ogododo: 6:38pm On Jan 29 |
President Bola Tinubu’s economic policy scrapping fuel subsidy and collapsing multiple foreign exchange windows into the single Importer and Exporter, or I&E window, drastically depreciated the naira’s value by 98 per cent, a report by the Price Water Coopers (PwC) stated. Here Are The Benefits Of Smart Beds. See Their Price Range. Smart Beds In Mexico | Search Ads | Sponsored Lagos: You Might Be Surprised By The Price Of Sofas In Mexico Sofas In Mexico | Search Ads | Sponsored The top global business advisory audit firm said in its report titled ‘Nigeria’s Economic Outlook: Seven Trends That Will Shape Nigerian Economy in 2024’ released last Wednesday that Mr Tinubu implemented policies that had the domino effect of devaluing the naira by nearly 100 per cent but appealed to foreign investors as the move was projected to improve the economy in 2024. “Removal of fuel subsidy (which cost $10 billion in 2022), and the collapse of multiple FX windows into a single I&E window, which caused naira to depreciate by 98 per cent between May and December 2023, among other monetary policy efforts, were key programmes executed to spur growth and regain investors’ confidence,” it said. Mr Tinubu, in his inaugural speech on May 29, 2023, announced there were no provisions covering fuel subsidy in the 2023 budget and further adopted the free float, collapsing various forex windows into the I&E to allow the market forces to dictate the price of forex. Although eliminating subsidies without an immediate corresponding palliative plan threw citizens into untold hardship and raised prices of products and services by 100 per cent, PwC maintains the decision was necessary to appeal to investors and curb oil bunkering. “The planned fiscal and monetary policy reforms in 2024 are expected to stimulate economic growth, reduce inflation and address the FX challenges in 2024 to drive investment,” the PwC report predicted. https://gazettengr.com/tinubus-monetary-policy-devalued-naira-by-98-per-cent-pwc/ |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Tntsi: 6:43pm On Jan 29 |
What do you expect from a "first class accountant" who does not know the value and importance of statistics in governance? These are the consequences of grab it and run with it. The mandate is cursed. The land is desecrated. The Economy is grounded 7 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by JasonScoolari: 6:43pm On Jan 29 |
Tinubu will handle the economy, while Shettima will handle security. 4 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by alsudan: 6:44pm On Jan 29 |
Tinubu with a less than double digit IQ is overseeing the destiny of over 230 million Nigerians. The suffering has just started, the dunce is only clever when it involves anything drugs. 4 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Bobloco: 6:44pm On Jan 29 |
Tinubu, with his patch patch CV, CBN governor, has only succeeded in wrecking the economy. With this, he has officially become the worst president to have ever governed this country. 2 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by gaby(m): 6:54pm On Jan 29 |
Lol Balablu try oh. 98/100. First-class material, 98 yards pere. 4 Likes 1 Share |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Paraman: 7:00pm On Jan 29 |
NNPCL will remit at least $10 billion that would have been spent on importing petrol, diesel, jet fuel etc |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by JasonScoolari: 7:00pm On Jan 29 |
Paraman:Anyone who demands accountability and good governance is either Obidient or IPOB to you. Shame 6 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Paraman: 7:03pm On Jan 29 |
ogododo:Some obi supporters are already wailing base on the headline alone. The naira will strengthen against the dollar and inflation will start falling soon before the third quarter of this year |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Opintiwa: 7:04pm On Jan 29 |
Paraman: Still licking the ass of the cocaine dispenser? 2 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Paraman: 7:21pm On Jan 29 |
JasonScoolari:Who among you wailers on this thread write any meaningful comment? Even the PWC predict the fiscal and monetary policy reforms in 2024 are expected to stimulate economic growth, reduce inflation and address the FX challenges in 2024 to drive investment,”. But you clowns are busy writing shitty comments. There's no difference between an obidient and ipob members. |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by JasonScoolari: 7:24pm On Jan 29 |
Paraman:If that will make you stop crying, it's okay by me. 2 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Paraman: 7:25pm On Jan 29 |
JasonScoolari:I'm not crying bro, I can't cry because of your shallow comment. If you notice sef, I didn't quote your comment cause of how dumb it is. |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by JasonScoolari: 7:28pm On Jan 29 |
Paraman:But you actually crying as you type this. Ebèzina, Ooh 4 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Paraman: 7:30pm On Jan 29 |
JasonScoolari:k |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by mrvitalis(m): 7:43pm On Jan 29 |
Paraman:And you would still buy fuel 650 ? |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Paraman: 7:44pm On Jan 29 |
mrvitalis:I don't mind so far we are not importing the petrol |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by mrvitalis(m): 7:46pm On Jan 29 |
Paraman:If NNPC stop buying and selling petrol at a lost Petrol price would be ( Diesel price -#70) That's over 1200 |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Tochi3(m): 8:04pm On Jan 29 |
Lagoon developer fumbling & failing upandan with his Audio first class in Accountancy.. Thief'nubu is a Fan of dundee United failure incorporated.. Clueless cocain sniffer |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Gadafii: 8:14pm On Jan 29 |
He think say Nigeria na Lagos, shiit heavy am for nyash 😂😂 When we clamored to have him present his ideas and plans to Nigerians in an open debate, agbado people called us names, first class accountant indeed 🤧🤧 No singke policy if his has brought any respite, instead from worse to “God Abeg😭🙏” 2 Likes |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Jlow2: 8:17pm On Jan 29 |
Pls tell us any positive impact of tinubus administration on lives of nigerians 1 Like |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by RepoMan007: 8:30pm On Jan 29 |
The call it sophistry. |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by ogododo: 8:40pm On Jan 29 |
Nlfpmod. |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by DMerciful(m): 8:52pm On Jan 29 |
Tinubu is a monumental failure |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by ogododo: 9:49pm On Jan 29 |
DMerciful:No be lie. 1 Like |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by SeeWahala: 11:44pm On Jan 29 |
RepoMan007: Sophisticated sophistry indeed |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by Yankee101: 1:36am On Jan 30 |
I hope salaries will be increased by 100% Tinubu has failed on arrival They steal unfollowed and you salaries are still in naira with no increase, fight for your rights |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by ogododo: 8:02am On Jan 30 |
Na 120%. |
Re: Tinubu’s Monetary Policy Devalued Naira By 98 Per Cent: Pwc by WeddingParol: 8:09am On Jan 30 |
When IMF and World Bank gives you a measure, trust me, the measure is to make life a living hell for the people. As dull as Buhari was, he did not fall for it. Tinubu was just too desperate to yield to the bidding of the west. |
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