₦airaland Forum

Lithiumite:
What money are you talking about govt making from this Forex lacuna we are all experiencing,I am really at a loss on this.....on your solution to effectively manage our Forex, we will get there gradually.

Do you know that if Government was getting 360 to 460 naira for every one dollar earned during Buhari administration, Government is now getting N1500 to N1600 in every one dollar revenue that comes to the federation, and this is at the detriment of the majority of the people, especially the fixed income earners.

mycar:
Do you know that if Government was getting 360 to 460 naira for every one dollar earned during Buhari administration, Government is now getting N1500 to N1600 in every one dollar revenue that comes to the federation, and this is at the detriment of the majority of the people, especially the fixed income earners.

The naira value you are exchanging for the dollars isn't a profit for the govt....intact the higher the cost of the dollar for the people,the bigger the problem for the govt .....that's even why govt is saying they cannot continue to subsidise it for those who need it,the way subsidy was removed on petrol is also what happened with the dollar

Lithiumite:
The naira value you are exchanging for the dollars isn't a profit for the govt....intact the higher the cost of the dollar for the people,the bigger the problem for the govt .....that's even why govt is saying they cannot continue to subsidise it for those who need it,the way subsidy was removed on petrol is also what happened with the dollar

I only agree with you that high exchange rate creates bigger problem for the govt but how do you defend the high cost of clearing essential goods?
Responsible government should have reduced the duty on importation of the essential goods but instead increase the duty through exchange rate adjustment. The truth is that the government is insensitive to the plight of the people hence they also want to take full advantage of the whole situation by removing all forms of protections on the economy, no regulation, no control, free for all. Common man is left to die
This is the worst government in the history of Nigeria,