₦airaland Forum

richmond500:
when u hear people say I work in a particular sector or I have first hand knowledge, just know they want to lie.
Just because u are doing POS doesn't mean u work in the financial sector.
Ogbeni rest, FX mean foreign exchange and if u don't see how reduction in imports can help our foreign exchange then u have a problem.

Make u rest with ur financial sector, the highest transaction u make a day is probably 200k from that ur POS stand

All these insults you are throwing amounts to nothing, I have thrown up a challenge to you and we can bet our cars if you won't mind, I will drop my car and you drop yours. If you are really sure of your support for Tinubu as an APC zombie and you can promise that Tinubus policy is working and by January next year dollar will be 1000 , not even the 500 naira he met it .We can do cars or cash depending on you to really show that you know what you are talking about.

Na statistics we go chop?

All thanks to that hideous creature call bat.

richmond500:
There are people that believed this news from world bank but won't believe that the reforms by this administration will help the country from the same world bank.

They just love bad news only

in all sincerity na u really type this thing?

LadyExcellency:
Next year or two, when it appreciates to N1200, they will call it the best-performing currency.

The World Bank and IMF deceived Buhari and Tinubu into destroying the economy and degrading every social class in Nigeria.

How?

richmond500:
There are people that believed this news from world bank but won't believe that the reforms by this administration will help the country from the same world bank.

They just love bad news only

Which reforms?

coleon:
All these insults you are throwing amounts to nothing, I have thrown up a challenge to you and we can bet our cars if you won't mind, I will drop my car and you drop yours. If you are really sure of your support for Tinubu as an APC zombie and you can promise that Tinubus policy is working and by January next year dollar will be 1000 , not even the 500 naira he met it .We can do cars or cash depending on you to really show that you know what you are talking about.

Car ke, my salary is not even up to 200k, where I wan see car to buy? I even think say u wan talk 300-400k

Btw, Tinubu policies is economic policies and it's not magic, so there is little chance of the FX coming down to 1000 in January.
But it will surely come down from next year

richmond500:
■ when u hear people say I work in a particular sector or I have first hand knowledge, just know they want to lie.
Just because u are doing POS doesn't mean u work in the financial sector.
Ogbeni rest, FX mean foreign exchange and if u don't see how reduction in imports can help our foreign exchange then u have a problem.
Make u rest with ur financial sector, the highest transaction u make a day is probably 200k from that ur POS stand

The other commenter is correct to say that there is still not just one Fx window in Nigeria to this day.

How can Nigeria reduce imports when Nigeria does not produce much of what it consumes? Last I heard, Pencils and toothpicks are still not manufactured in Nigeria.

BAT is working...on the wrong mantra according to his emilokan Iiiidddiootttss

Kilowifunds:


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Kobojunkie:
The other commenter is correct to say that there is still not just one Fx window in Nigeria to this day.

How can Nigeria reduce imports when Nigeria does not produce much of what it consumes? Last I heard, Pencils and toothpicks are still not manufactured in Nigeria.

the bulk of our imports is refined fuel.
With a refinery, we have totally eliminated that

You all are a disgrace for all our pains....Foollsss Emilokan advocatea

richmond500:
the bulk of our imports is refined fuel. With a refinery, we have totally eliminated that

We have, and yet as we speak, Nigeria continues to import fuel... how come? Don't think you can ever impress me with all of the bullsheet claims you are paid to make. Please try to skip over all that trash when responding to my posts.

That he-goat will still tell you to fact check his baseless statistics. By the time they are done with clueless Tinubu…

all all thanks to taking directives from you to devalue our currency you now come to our face to gaslight us nawa o

chaloskyx:
all all thanks to taking directives from you to devalue our currency you now come to our face to gaslight us nawa o

That is a bloody lie! Stop allowing your corrupt kakistocrats deceive you with propaganda for Pete's sake!

Nigeria has yet to formerly implement any of the reforms suggested by the World Bank to date. The lawmakers have created policies to enable the reform but that is the most Nigeria has accomplished to date.

richmond500:
Car ke, my salary is not even up to 200k, where I wan see car to buy? I even think say u wan talk 300-400k

Btw, Tinubu policies is economic policies and it's not magic, so there is little chance of the FX coming down to 1000 in January.
But it will surely come down from next year

Lol, see yourself.
It's just self deceit, are you aware they Tinubu will be 2 years in office by may next year. If his policy does not start to show by next year , is it when he's booted out by 2027 his policies will be showing.
You can keep deceiving yourself my brother, you and I know that there's no policy working anywhere , it's just trial and error they are doing and you guys are falling for it.
We were in a forum with the CBN governor recently and he was asked when the exchange rate and inflation will come down and he said he can't tell, that's the CBN governor oh, but APC zombie online thinks Tinubu has some deliberate thing he's doing that will stop this suffering from continuing and are still having hopes.

coleon:
Lol, see yourself.
It's just self deceit, are you aware they Tinubu will be 2 years in office by may next year. If his policy does not start to show by next year , is it when he's booted out by 2027 his policies will be showing.
You can keep deceiving yourself my brother, you and I know that there's no policy working anywhere , it's just trial and error they are doing and you guys are falling for it.
We were in a forum with the CBN governor recently and he was asked when the exchange rate and inflation will come down and he said he can't tell, that's the CBN governor oh, but APC zombie online thinks Tinubu has some deliberate thing he's doing that will stop this suffering from continuing and are still having hopes.

everything IMF says is happening, so I believe the policies.

richmond500:
everything IMF says is happening, so I believe the policies.

Stop lying!

What is currently still there are still just the policies on paper to get the reforms in place. The actual implementation --- even plans for implementation --- remain missing to date. Why? Because your government, 18 months in, is not ready to in fact implement any of the reforms as it is busy looting Nigerians blind while telling them to hold on in suffering.

Under APC
Under Tinubu

Lolzz...
It will continue like this as long as we uses dollars in Nigeria and the people doing this trade in dollars probably earn in dollars .. so...

Blackdisciple:
Lolzz...
It will continue like this as long as we uses dollars in Nigeria and the people doing this trade in dollars probably earn in dollars .. so...

Stop yapping these excuses abeg!

Many Africans have argued that the cardinal reason behind such currency devaluation is to satisfy the Global North financial sharks like the IMF and the World Bank, and act their scripts. It has become clear that the major interest of these financial institutions is to stifle the economies of developing countries and keep them under the control of world superpowers, as witnessed in Pakistan and Sri Lanka.

Kobojunkie:
That is a bloody lie! Stop allowing your corrupt kakistocrats deceive you with propaganda for Pete's sake!

Nigeria has yet to formerly implement any of the reforms suggested by the World Bank to date. The lawmakers have created policies to enable the reform but that is the most Nigeria has accomplished to date.

chaloskyx:
■ Many Africans have argued that the cardinal reason behind such currency devaluation is to satisfy the Global North financial sharks like the IMF and the World Bank, and act their scripts.
■ It has become clear that the major interest of these financial institutions is to stifle the economies of developing countries and keep them under the control of world superpowers, as witnessed in Pakistan and Sri Lanka.

Was the devaluation of the Naira that occurred during the Buhari regime equally to blame on the IMF & World Bank?

This is a report that came out last year on the issue of rapid devaluation that occurred. Also note that as we speak, there are still multiple Fx Windows operated in Nigeria to this day.
https://www.thisdaylive.com/index.php/2024/01/29/pwc-collapse-of-fx-market-into-single-window-led-to-98-devaluation-of-naira-in-2023/

2. How come, back in 2003-2007 when Obasanjo diligently implemented and maintained the reforms suggested by the IMF & World Bank, Nigeria's economy instead experienced a resurge of kinds that it had never before experienced?

Rather than pay attention to what other Africans argue, investigate the details for your own self to learn fact from propaganda and lies!

richmond500:
firstly, subsidy is gone, this makes a regime where govt can use the funds for something else.
Secondly, No multiple fx windows, this means u will be buying dollar same amount that the elites will buy too, it calls for competition in doing business in Nigeria and promotes local production from every Nigerian that wish to.

Thirdly, Larger percent of our import was from oil, that bottleneck is gone too thanks to Dangote refinery.

I don't know why people aren't seeing this

The subsidy is gone, please what has been the impact of the money realised from the same subsidy that is gone? What have they use the money for? Oh! I forgot, they are sharing palliative and making citizens to be beggars in their own country.
Sometimes, many Nigerians have education but lack common sense. Fuel is the driver of Nigeria economy because it affects virtually every aspect of our life. No sector in Nigeria that impact of oil would not affect. None.
Floating of dollar and make it unified, what benefit has Nigeria and Nigerians derived from the policy please? Instead it has made naira to be worthless amongst the currency in the world. Forgetting that the country is a foreign goods dependent country. Meaning you will be needing more naira to buy few goods.
This is common sense and simple economic. A woman that is seeking okra, if she goes to market and bought a foreign shirt at the cost of ₦10k instead of ₦4k she last bought it. You should expect that the woman will definitely go home and increase her own okra price, if she's selling ₦20, she will increase it to ₦50 and the circle continues. That's what we are witnessing in the country but our dull leaders and followers cannot think deep, forgetting that we are still foreign goods dependent.

If your country is not producing, your currency will never be strong. What are your country exporting? Virtually nothing.

I don't seem to understand world bank self,today they will say we should be patient tomorrow they say something different

Those hausa Fulani from neighbouring Niger republic pushing trucks and doing other menial jobs have return back to their country. Working here and earning in naira is no longer worth their effort. Naira should be the worst performing currency at the moment.

danhans:
I don't seem to understand world bank self,today they will say we should be patient tomorrow they say something different

The World Bank is not saying anything different from what it said(IMF) said back ij 1986-1992 regarding the best way forward for Nigeria. The same set of reforms that were presented to IBB—he reused to wholly implement and maintain the reforms—are the same set of reforms that are needed even now if Nigeria is to move forward. Obasanjo started wholly implementing some of them in 2003 and he maintained those reforms until Yar adua came in and then reversed most of them before he died bringing Nigeria back to square one again.

The question now is will the current administration wholly implement the plans and sustain said implementations or will it simply continue looting Nigerians blind while it lies that it has put reforms in place?

Ajala ta n na o.

No be Una dey say Bulaba-lububabu dey do well ?😡😡😡

43% depreciation is a terrible one ..

Let's clap for Tinubu. He has successfully plunged many Nigerians into abject poverty