How To Stop Naira Continuous Decline - Politics

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How To Stop Naira Continuous Decline - Politics - Nairaland

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Governors To Stop Tax Collection Concession As States’ Revenues Decline / I Won’t Decline Courtesy Calls By Opposition Candidates — Buhari / Foreign Reserves Decline By $2.3bn In 11 Weeks (2) (3) (4)

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How To Stop Naira Continuous Decline by Validated: 4:59pm On Feb 16

1. Redenominate the Naira. Make a new Naira with current value of N1000 to new N1.0. Print only 1,000,000 notes of N5 and N10
2a. Tax all cash withdrawals at 2.5% - 5% on a graduated rate to discourage cash based transactions.
2b. Max new naira denomination at N10
3. Ban importation of all non-essential for 1 year.
Or tax all luxury goods at 60% - 100% duty
4. Reintroduce coins as follows: 10k, 20k, 50k
5. Merge ministries and eliminate 18 ministries. Merge parastatsls.
6. Remove the current CBN governor and appoint a season banker and accountants.
7. Create food producers development commission like NNDC. Pay 7% derivation for all validated food to National food reserve bank.
8. Mandate all constituency projects to focus agriculture and food production
9. Ban herdsmen roaming their cattle. Mandate states to establish cattle ranches.
10. Nigerians should hold APC accountable and vote them out in 2027.

5 Likes

Re: How To Stop Naira Continuous Decline by Naijanascam: 5:01pm On Feb 16

They carrying us to where we no know😂😂 better let them take us back to where they carry us in the 2014

Re: How To Stop Naira Continuous Decline by Validated: 5:02pm On Feb 16

Naijanascam:

Why are you laughing?
This is how to achieve APC scam of making N1 ~ $1 grin

Re: How To Stop Naira Continuous Decline by marenkurz: 6:39pm On Feb 16

Or maybe he should just resign.

Re: How To Stop Naira Continuous Decline by NaijaCowFarm: 7:44pm On Feb 16

marenkurz:
Or maybe he should just resign.

Abi ooo! Why are people not demanding that Tinubu should resign??

Re: How To Stop Naira Continuous Decline by slimfit1(m): 8:08pm On Feb 16

You were making sense until you got to number 9. The farmers pay for the land, crops and fertiliser. Why should Herbsmen get free ranch? They have associations let the associations buy land and use it. When farmers finish harvesting their crops they can send the waste materials for the farmers to feed their cows everyone wins.

Re: How To Stop Naira Continuous Decline by Naijanascam: 9:54pm On Feb 16

Validated:

Why are you laughing?
This is how to achieve APC scam of making N1 ~ $1

This one don pass laffing grin

because they are carrying us to where we no know😂... From 216 to 2160 in a couple of weeks from now

1 Like

Re: How To Stop Naira Continuous Decline by AllTheWayUp: 10:57pm On Feb 16

Validated:
1. Redenominate the Naira. Make a new Naira with current value of N1000 to new N1.0. Print only 1,000,000 notes of N5 and N10
2a. Tax all cash withdrawals at 2.5% - 5% on a graduated rate to discourage cash based transactions.
2b. Max new naira denomination at N10
3. Ban importation of all non-essential for 1 year.
Or tax all luxury goods at 60% - 100% duty
4. Reintroduce coins as follows: 10k, 20k, 50k
5. Merge ministries and eliminate 18 ministries. Merge parastatsls.
6. Remove the current CBN governor and appoint a season banker and accountants.
7. Create food producers development commission like NNDC. Pay 7% derivation for all validated food to National food reserve bank.
8. Mandate all constituency projects to focus agriculture and food production
9. Ban herdsmen roaming their cattle. Mandate states to establish cattle ranches.
10. Nigerians should hold APC accountable and vote them out in 2027.

Nice analysis
Same thing I have been saying we need Naira redomination like Ghana did theirs

1 Like

Re: How To Stop Naira Continuous Decline by mrvitalis(m): 11:00pm On Feb 16

Validated:
1. Redenominate the Naira. Make a new Naira with current value of N1000 to new N1.0. Print only 1,000,000 notes of N5 and N10
2a. Tax all cash withdrawals at 2.5% - 5% on a graduated rate to discourage cash based transactions.
2b. Max new naira denomination at N10
3. Ban importation of all non-essential for 1 year.
Or tax all luxury goods at 60% - 100% duty
4. Reintroduce coins as follows: 10k, 20k, 50k
5. Merge ministries and eliminate 18 ministries. Merge parastatsls.
6. Remove the current CBN governor and appoint a season banker and accountants.
7. Create food producers development commission like NNDC. Pay 7% derivation for all validated food to National food reserve bank.
8. Mandate all constituency projects to focus agriculture and food production
9. Ban herdsmen roaming their cattle. Mandate states to establish cattle ranches.
10. Nigerians should hold APC accountable and vote them out in 2027.

Who ever thought you economics did you dirty

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Re: How To Stop Naira Continuous Decline by blacknp(m): 11:03pm On Feb 16

NaijaCowFarm:

Abi ooo! Why are people not demanding that Tinubu should resign??

Resign for Shettima to enter?

Don’t know why you Children in your misconstrued disillusion always choose to deceive yourselves?

Abi na that same disillusion make you name yourself Naija Cow farm?

Re: How To Stop Naira Continuous Decline by blacknp(m): 11:04pm On Feb 16

mrvitalis:

Who ever thought you economics did you dirty

Validated na graduate of Ipob school of Economics Yaoundé.

Re: How To Stop Naira Continuous Decline by nlreserve: 11:23pm On Feb 16

Validated:
1. Redenominate the Naira. Make a new Naira with current value of N1000 to new N1.0. Print only 1,000,000 notes of N5 and N10
2a. Tax all cash withdrawals at 2.5% - 5% on a graduated rate to discourage cash based transactions.
2b. Max new naira denomination at N10
3. Ban importation of all non-essential for 1 year.
Or tax all luxury goods at 60% - 100% duty
4. Reintroduce coins as follows: 10k, 20k, 50k
5. Merge ministries and eliminate 18 ministries. Merge parastatsls.
6. Remove the current CBN governor and appoint a season banker and accountants.
7. Create food producers development commission like NNDC. Pay 7% derivation for all validated food to National food reserve bank.
8. Mandate all constituency projects to focus agriculture and food production
9. Ban herdsmen roaming their cattle. Mandate states to establish cattle ranches.
10. Nigerians should hold APC accountable and vote them out in 2027.

All what you have stated cannot solve it in long term. The only solution is industrial revolution to be self reliant and stop importing. By that, there won't be pressure on the dollar.
I'm summary, move the country from consumption to production

1 Like

Re: How To Stop Naira Continuous Decline by Celestialsword: 12:52am On Feb 17

mrvitalis:

Who ever thought you economics did you dirty

What's wrong with the sound economic solutions up there.

Work with those smarter than you.

Re: How To Stop Naira Continuous Decline by leokid866: 12:59am On Feb 17

AllTheWayUp:

Nice analysis
Same thing I have been saying we need Naira redomination like Ghana did theirs

a redenomination won't make your problems go away, it only makes them look smaller so people think it's easier to deal with...but its still a problem.....Ghana you speak of had to borrow 3BN $ last year just to stay afloat and that was from the IMF alone

2 Likes

Re: How To Stop Naira Continuous Decline by nlreserve: 8:00pm On Feb 17

Celestialsword:
What's wrong with the sound economic solutions up there.

Work with those smarter than you.

Those are not sound enough. Without removing over reliance on dollar, that 1 dollar to 1 naira will still go to 1 dollar to 1,500 naira in time to come. The only solution is industrial revolution. Move Nigeria from consumption to production.
From there, we won't be importing most things and we will be self reliant and have some for exportation. And we will get more dollar than needed and dollar would become useless.
Indian population is high but they are industrialized. Tribalism and religion is the only problem of Nigeria. We have good hands to fix Nigeria.

This inverter I bought for my home yesterday was made in India for export only. Do you see what is called industrialization?

Taxing the citizens won't be an option when the country is rich. Only the industries would be taxed. The industries also create jobs and the kidnappings won't be a popular thing.

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