₦airaland Forum

Blazetrailer:
■ Nigerians aew wonderful.... see reasoning below.
A sovereign country tgat has a full flegded customs and anti smuggling agency, justifying need to devalue her currency and increase proces of petrol because there are smugglers and they have no other better options to combat these smugglers other than to continue to increase fuel prices and devalue her currency.....so stupid
These fools who toe this narrative the government puts out never even bothered to use their thinking faculties to question these senseless reasons put ouy there by administration. I doubt they went to school, because if they did, they woukd have reaslided that tge better way to combat smuggling is not by increasing prices or remocing subsidy, you shoukd fortify your borders and tighten the sexurity around the smuggling spots, using technology....because the commodity,fuel, is considered a an essential commodity in bithe Nigeria and the neighbouring countries....and basic/simple economics make the demand for essential commodities price inelastic, that is, if the prices increase, demand does not resuce, the increase in prices are simply passed on, ao long as there is money to buy.
These fools have forgotten that the CFA now has more value than naira, ao they can afford to buy even at higher naira pump prices. Simply meaning, increase the prices of fuel in Nigeria to N10,000 per litre today, smuggling will continue because, the demand is price inelastic and they have a more valuable currency....
....justifying price increase with smuggling is the daftest excuse i have ever read. Dont these so claard "technocrats" even have basic educaction?....
They should have learnt from the fact that the increase in fuel prices in Nigeria since 2023 after they claimed they "removed" subsidy has not deterred smuggling even though they stated that removing subsidy would deter smuggling as one of the justifications.....it never did and will never.

They should learn? They do not care about the Nigerian people as their number one concern is their pockets and their pockets alone. So, if the Nigerian people are tired of being treated like nonentities in their own country, they would do the needful... but... seems the people are not ready still.

CodeTemplarr:
Africa and senseless politics. The decision to float Naira shouldnt be tagged Tinubu's policy. It was simply unaffordable and had to stop. Calling it Tinubu's is blaming Tinubu for shortage of forex earning and high Forex demand locally. I dont agree with that.

Rubbish defence!

Spot on!!!

I dont think the people are ready,my brother. .....they are not ready....suffering never reach....if it gets ti ehen they start eating themselves on the streets, maybe they would have sense

Kobojunkieee:
They should learn? They do not care about the Nigerian people as their number one concern is their pockets and their pockets alone. So, if the Nigerian people are tired of being treated like nonentities in their own country, they would do the needful... but... seems the people are not ready still.

I hold no brief for Tinubu or any other Nigerian politician, but let's please try and face facts. Tinubu did NOT devalue the niara. All he did was remove the fake 'official rate' that used to exist, which was nothing more than a CBN subsidized rate, that was only available for the likes of Dangote and co. Who on this platform ever got FX at the so called CBN rate? Nowhere in the world does that kind of nonsense exist.
Tinubu has a LOT of faults, but at least he's facing a few of the issues that have held this nation back for so long. Sadly due to his own corruption and neopotic tendencies he will not be able to move the nation forward in any substantial way.

manuelkel:
Tinubu has no idea what he's doing na, let's not be sentimental. The man is clueless, he 100% has no idea of leadership, he claimed Lagos and presidency due to his thuggery

True. He built his legacy majorly on Fashola's achievement and he's been hyped as the brain behind the development in Lagos... Meanwhile Lagos has always been developed, in fact, he introduced thuggery in the state's political scene.

DevilsEqual:


We are currently trying to reform our Economy and this is 100% normal


I hope you will have the strength to compile useless articles when the whole thing starts paying off

Is that what he told you or you just think this is what is going on .
Why can't your Tinubu address the nation and let people know what is going on. This will dispel rumour and speculation. What is the meaning of reforming the economy. What is he doing to reform it. This is not the best way to govern a diverse and broad country of Nigeria. It is sheer incompetence.

Tinubu should have known better before he arrogantly floated Naira.
Governors too were happily collecting double allocations without realising that they would be paying times four for everything . Dumbos

DevilsEqual:


We are currently trying to reform our Economy and this is 100% normal


I hope you will have the strength to compile useless articles when the whole thing starts paying off

Balabuluu bulubalaaa! Can't imagine that I voted for this dunce.
Tinubu should have known better before he arrogantly floated Naira.
Governors too were happily collecting double allocations without realising that they would be paying times four for everything . Dumbos

Shadomaan7:
When Sahara Reporters started as an online platform, they were a bit credible but over the years, they have been running a tabloid sensational news.

But this is a straightforward analysis that we all knew already now! Naira has lost value by times four against dollar, so, paying for fuel importation would increase by times four too

bjdon:
■ I hold no brief for Tinubu or any other Nigerian politician, but let's please try and face facts. Tinubu did NOT devalue the niara. All he did was remove the fake 'official rate' that used to exist, which was nothing more than a CBN subsidized rate, that was only available for the likes of Dangote and co. Who on this platform ever got FX at the so called CBN rate? Nowhere in the world does that kind of nonsense exist.
Tinubu has a LOT of faults, but at least he's facing a few of the issues that have held this nation back for so long. Sadly due to his own corruption and neopotic tendencies he will not be able to move the nation forward in any substantial way.

You make Tinubu seem even more a fool with this claim of yours.

The CBN is not a commercial bank and so its giving of a special rate to Dangote alone meant it was illegally acting in a capacity it ought not to. That problem is easily resolved without jeopardizing the value of the Naira for all Nigerians if we are indeed to assume that was what Tinibu's intention was. But that is obviously not the truth. We all know this now.

DevilsEqual:


We are currently trying to reform our Economy and this is 100% normal


I hope you will have the strength to compile useless articles when the whole thing starts paying off

Just like your Devilsequal articles about Buhari Economic Reforms of 8 Years Paid Off .

Your Gbajue Jagaban Has nothing to offer for 4 Years , Deal with that , Even if given 10 years nothing to Offer just in the Voice of Bwala

helinues:
Toh

and if you Toh , it's your Personal Toh , What concerns Nigerians about this .

Wouldn't you rather tell your Gbajue Jagaban save Nigerians from The Sufferings he brings upon Nigerians with his Devilish Policies .

Toh sai gobe. Amaka okay toh, Wale Adenuga productions, okay toh

santaclaws:
I've said it before and I'll say it again: the worst mistake Tinubu made was floating the naira and removing subsidy simultaneously... No austerity measures, no proper palliatives, he just took the decision first day in office, that was reckless on Tinubu's part!

He should have done either of the two, not both at the same time. This is why the economy is under so much pressure while they are even yet to implement the meagre minimum wage of 70k. Some state govs aren't paying the previous 30k yet, so where are they driving the economy? I bet Tinubu has no idea what he is doing!

The mess is now irreversible. No sane person would take such simultaneous measure.

The gain he thought he could realise from fuel subsidy removal has been completely truncated by the Naira devaluation policy so bad that Nigeria would have been better off without any of the policy measures.

The name called Nigeria remains fraud to the world

DevilsEqual:


We are currently trying to reform our Economy and this is 100% normal


I hope you will have the strength to compile useless articles when the whole thing starts paying off

You must ba a magnificent lair!

CodeTemplarr:
Africa and senseless politics. The decision to float Naira shouldnt be tagged Tinubu's policy. It was simply unaffordable and had to stop. Calling it Tinubu's is blaming Tinubu for shortage of forex earning and high Forex demand locally. I don't agree with that.

So who should we blame for the reckless decision to float the naira?
Where in Africa have you seen or heard that they float their currency and allow the so-called ''market forces'' to determine its value? Did you see or hear any of the previous presidents float the naira.? Is Tinubu wiser or cleverer than all the previous presidents that refused to float the naira?
Floating of the naira is just another example of the recklessness, cluelessness and incompetence of Tinubu and his gang of Lagos commissioners that he has now appointed as ministers and advisers

Most of the goods consumed in Nigeria are imported, to begin with. The floating of the naira at this point in time was essentially a mission to give what are majorly external market forces the opportunity to determine for Nigerians the value of their Naira.

DevilsEqual:


We are currently trying to reform our Economy and this is 100% normal


I hope you will have the strength to compile useless articles when the whole thing starts paying off

Nothing is going to pay off, Tinubu administration is clueless, lacks direction

Nigeria is in serious trouble. Hard way must be followed to reverse the trend of carelessness.

Nigeria is in serious trouble. Hard way must be followed to reverse the trend of carelessness and insensitivity.

Kobojunkieee:
You make Tinubu seem even more a fool with this claim of yours.

The CBN is not a commercial bank and so its giving of a special rate to Dangote alone meant it was illegally acting in a capacity it ought not to. That problem is easily resolved without jeopardizing the value of the Naira for all Nigerians if we are indeed to assume that was what Tinibu's intention was. But that is obviously not the truth. We all know this now.

Dangote was just an exemple of those that gained from the former system. The bottom line is No nation can maintain an artificial value for its currency indefinitely. Sooner or later the currency needs to be allowed to find its true level.

bjdon:
■ Dangote was just an exemple of those that gained from the former system. The bottom line is No nation can maintain an artificial value for its currency indefinitely. Sooner or later the currency needs to be allowed to find its true level.

There is nothing indefinite about what Nigeria had in place. Even China continues to peg its currency to its advantage to this day and no one knows when it intends to stop doing so.

The definition of devaluing the Nigerian currency was a terrible one made by Tinubu.

Life is painfully hard for Nigerians simply because
The people they voted to proffer solutions to their problems can't think 🤔

mikeapollo:
So who should we blame for the reckless decision to float the naira?
Where in Africa have you seen or heard that they float their currency and allow the so-called ''market forces'' to determine its value? Did you see or hear any of the previous presidents float the naira.? Is Tinubu wiser or cleverer than all the previous presidents that refused to float the naira?
Floating of the naira is just another example of the recklessness, cluelessness and incompetence of Tinubu and his gang of Lagos commissioners that he has now appointed as ministers and advisers

The previous presidents used the dollar supply im advance. No forex to sell as usual and that means FG is short of forex to defend the Naira. Do you have any other ideas or just want to oppose for the sake of politics? Share them if you have any.

Una say dangote is bringing out fuel,and yet still importing fuel
one day all these nonsense will stop

Must they import ?
What exactly is Dangote's sin that they would rather import fuel with scarce dollar than patronise him.

The Cabal Myth is real after all

What did you expect when you vote in an incompetent and dull president

Kobojunkieee:
There is nothing indefinite about what Nigeria had in place. Even China continues to peg its currency to its advantage to this day and no one knows when it intends to stop doing so.

The definition of devaluing the Nigerian currency was a terrible one made by Tinubu.

Are you really comparing China and Nigeria, China can afford to peg their currency, due to their massive trade balance with the US. Nigeria practically imports everything upto toothpicks, how can such a nation, with a massive demand for dollars, maintain an artificial rate? It's simply not possible. Nigerians need to face facts

CodeTemplarr:
The previous presidents used the dollar supply im advance. No forex to sell as usual and that means FG is short of forex to defend the Naira. Do you have any other ideas or just want to oppose for the sake of politics? Share them if you have any.

Thank you. Too many people simply don't understand what Buhari did to this country. It will take at least a decade to recover from his misrule

bjdon:
■ Are you really comparing China and Nigeria, China can afford to peg their currency, due to their massive trade balance with the US.
■ Nigeria practically imports everything upto toothpicks, how can such a nation, with a massive demand for dollars, maintain an artificial rate? It's simply not possible. Nigerians need to face facts

Comparing ke? You are the one who claimed that propping up the value of the currency cannot be done or something and I merely pointed out that even China, itself still a developing country continues to peg the value of its currency. Nigeria is... well was a developing country like China until a couple of months ago.

2. All the more reason why it should keep its currency propped up until such a time when it has sufficiently resolved that problem that it continues to struggle with. Removing that peg makes no sense as we now see with the economy nearly crippled since the act. Nigeria continues to export everything you mentioned now even more than before. Along with that, over 40 million Nigerians have been rendered into a state of multidimensional poverty with millions of businesses irreparably damaged by it all. So, what was the advantage gained from unpegging the naira?