₦airaland Forum

donmixc:
Coconut heads like helinues won’t comprehend

Thewrath:
That’s how agbado economics works,that’s how he tamed the Atlantic Ocean

Dbegining:
Not only was it risky, it was a bad move.

Till today, we still have 2 exchange rates. And ye government is still subsidizing dollars.

Just made Nigerians suffer for nothing.

Temptation147:
See wetin? You will never see him on this kind of thread

Macphenson:
Floating the Naira alongside subsidy removal is the most stupid, incompetent, ignorant and foolish economic decision ever made in the history of this Nation.

TouchNfollow:
https://punchng.com/floating-of-naira-a-risky-move-africhange-ceo-ajala/

PulaPower:
Floating the naira is a big, risky move. For years, Nigeria’s exchange rate has been artificially set, and it created all sorts of distortions. Businesses struggled to get access to dollars, and people had to find creative (often expensive) ways to get their hands on foreign currency. By floating the naira, the idea is to let the market decide its value, which could improve things like forex access, investment, and transparency..

In the short term, this is going to be messy. The naira will lose value before it finds its equilibrium. Currency fluctuations could get wild, and inflation might spike as the cost of imported goods rises. That is not exactly a recipe for stability, and people will feel it—in fact, it is all playing out already.

The key to this working in the long run is what comes next. If Nigeria can fix some of its deeper structural issues—like oil production inefficiencies, a reliance on foreign currencies, and an underdeveloped manufacturing sector—then floating the naira could be a good thing. But if the government just sits back and lets the naira float without addressing these issues, the move could backfire.

So, while floating the naira might seem like a bold step forward, it is really just the beginning. The real question is whether Nigeria can create the conditions that make this painful transition worth it in the long term. The promise of a more market-driven, competitive economy is real, but only if the country can stabilise the ship after it starts rocking.

Him nail it !

badoh:
Only out to criticise but lack knowledge to proffer workable solutions. Do you have the requisite knowledge to proffer solution to the challenges Nigeria is facing? I know some of you wants the govt to keep on subsidizing the Forex while forgetting that some powerful people are profiteering from it. Do you know how much it cost annually to keep defending the Naira with borrowed funds?

PulaPower:
Floating the naira is a big, risky move. For years, Nigeria’s exchange rate has been artificially set, and it created all sorts of distortions. Businesses struggled to get access to dollars, and people had to find creative (often expensive) ways to get their hands on foreign currency. By floating the naira, the idea is to let the market decide its value, which could improve things like forex access, investment, and transparency..

In the short term, this is going to be messy. The naira will lose value before it finds its equilibrium. Currency fluctuations could get wild, and inflation might spike as the cost of imported goods rises. That is not exactly a recipe for stability, and people will feel it—in fact, it is all playing out already.

The key to this working in the long run is what comes next. If Nigeria can fix some of its deeper structural issues—like oil production inefficiencies, a reliance on foreign currencies, and an underdeveloped manufacturing sector—then floating the naira could be a good thing. But if the government just sits back and lets the naira float without addressing these issues, the move could backfire.

So, while floating the naira might seem like a bold step forward, it is really just the beginning. The real question is whether Nigeria can create the conditions that make this painful transition worth it in the long term. The promise of a more market-driven, competitive economy is real, but only if the country can stabilise the ship after it starts rocking.

Him nail it !

waveman2:
The guy just nailed it.Floating the naira is where the work starts.Mechanism to ease the impact where not in place that is why we are feeling it.we need to just try to make our economy productive else this administration might not even see the impact of the bold step they have taken.

Naso..

You’re well informed..

AntiChristian:
Risky, bold and the best move!

Chucks13:
Mr man "No Risk No Success"

Thanks...

year2013:
Another quote from an Olodo.

jaxxy:
They are not rocket science. Obasanjo was doing it.

It is suicidal to float ur naira with an unproductive and import dependent economy.

wellmax:
Without floating, we will continue to be import dependent