₦airaland Forum

Prince111111:
you should know by now what actually reduced the strength of the Naira and if the value of a naira could be reversed to how powerful it used to be, then so be it. The minimum wage should be reduced. We should just stop being a mediocre for God sake! If the value of the currency was not tampered with, would the prices of food ever gone high as this?? Na wa ooo

What reduced the strength of our currency is the excessive increase in taxes and loans to be looted by Buhari, Tinubu and APC as they get more luxury goods to themselves.

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

TimeManager:
They say anything that goes up in Nigeria doesn't come down but let me remind you that Tinubu is a jinx breaker, it will even go lower in the coming weeks.


-Kiss the truth!

Tinubu data boys
Propaganda every where

The Muslim fasting is here again and the food goes up again. By the way, what is the goods and services going down? Who is deceiving who?

SMH

mrvitalis:
Meet rice at 40k drove price to 100k then price reduce to 80k then you said price have crashed and policy is working?

Why not wait till we get back to the initial price first

Na wah ooh watch them call me hater now

Na madness Dey worry this government and their supporters.

There's a big hole in the think tank .... common sense has all leaked out Tinubu s policy is responsible for the drop in food prices. Isn't it the same genius policy that caused the prices to go through the roof? ...it has not returned to where it was before take off. I don't understand how grown men can be singing all praises to their fellow man ... the way a wife sings praises to her husband who in her eyes does no wrong. It makes me suspect such men...there must be a secret responsible for this adornment.

Did it even occur to them that it has to do with the drop in petrol price?

TimeManager:
They say anything that goes up in Nigeria doesn't come down but let me remind you that Tinubu is a jinx breaker, it will even go lower in the coming weeks.


-Kiss the truth!

The kind of up this one went was far above what we expected. So if it doesn't come down, it is a matter of time before people start eating people.

Putindbutt:
You guys are big time illiterates. Debt servicing was 97% when Tinubu took over. The fact that the economy was bleeding while living fake life has eroded your common sense.

.Ohhh u mean the fake life under buhari or under Jonathan which one??

U ignorant guys need to stop thinking Nigerians are semi illiterates like u. We know how this useless and clueless man wrecked this country and u are yet to fix it back and instead u are throwing propaganda everywhere to decieve complacent Nigerian with short term memory.

We should thank this government for bringing price down from what to what? Do u people have an conscience at all?

U will explain taya but u know there is no evidence.

zero8zero:
Very hard for prices to come down in naija, even dick dey come down. It is now that I'm witnessing prices coming down.

You people need beating every morning so that you will have sense and stop churning propaganda.

jaxxy:
.Ohhh u mean the fake life under buhari or under Jonathan which one??

U sew u guys need to stop thinking Nigerians a semi illiterates like u. We kmow how this useless and clueless man wrecked this country and u are yet to fix it back and instead u are throwing propaganda everywhere to decieve complacent Nigerian with short term memory.

We should thank this government for bringing price down from what to what? Do u people have an conscience at all?

U will explain taya but u know there is no evidence.

So, prices coming down is propaganda?, Dangote & NNPCL price reduction is propaganda?
Naira stability is propaganda?. We una, no need introducing yourselves 😅😅😂
You were blind when no refinery was working?, when Nigeria was turned into a dumping ground but you want overnight magic. You won't have rest of mind.

helinues:
Basic economy

What's the % of increase in minimum wage?

What's the % of increase in price of goods and services?

Minimum wage increased by over 100% does not mean that salary increased by same percentage oo.
Federal govt workers got an average of 30k added to their salary as consequential adjustment due to the new minimum wage. So what's the big deal about it?

TimeManager:
They say anything that goes up in Nigeria doesn't come down but let me remind you that Tinubu is a jinx breaker, it will even go lower in the coming weeks.


-Kiss the truth!

Kiss the truth. Keep your propaganda. Where did he meet it before?

mrvitalis:
Meet rice at 40k drove price to 100k then price reduce to 80k then you said price have crashed and policy is working?

Why not wait till we get back to the initial price first

Na wah ooh watch them call me hater now

You spoke the gospel truth. 4get this brainwashed d**kz

Alfaab:
I love beans but I have fled from it when one derica sold for #2400.
Reading and hearing that prices have come down,I went to the market and was surprised when I got it at #1200.
Praises.

Price of beans have been between 1500 per derica for over a month now

Please how much is acup of rice presently since they said prices have crashed?

ChiefS:
Very false and misleading food prices are still extremely high. In fact the prices are still increasing daily.

I tell you... I was wondering where they buy their own foodstuffs cheap.

TimeManager:
They say anything that goes up in Nigeria doesn't come down but let me remind you that Tinubu is a jinx breaker, it will even go lower in the coming weeks.


-Kiss the truth!

You’re just living in denial. The economic indicators are there to show nothing has come down. Not even inflation rate, not to talk of inflation itself. Not to discount current efforts but there’s still so much to be done that all this blind followership and sugar-coating

mrvitalis:
Meet rice at 40k drove price to 100k then price reduce to 80k then you said price have crashed and policy is working?

Why not wait till we get back to the initial price first

Na wah ooh watch them call me hater now

It didn't reached 100k immediately, it's was gradual and so it's reducing gradually

We give glory to God!

femi4:
It's difficult to defend incompetence....we understand your struggles

Which do you prefer? Available FX at 1500 or non available FX at 450??

TimeManager:
They say anything that goes up in Nigeria doesn't come down but let me remind you that Tinubu is a jinx breaker, it will even go lower in the coming weeks.


-Kiss the truth!

beans from 300 to 3500 then drop to 2000 is no jinx braking. We will call him a jinx break when a measure of beans and other commodities drop below how he met it

Bobloco:
Nigerians will surely commend Tinubu when they see and feel the food prices coming down to levels lower than where Tinubu found them when he took over in May 2023.

Any decrease beyond this is purely lies, falsehood, and undiluted propaganda from the pit of hell

Mouthpiece of Nigerians we hear you and your new anthem! The Arewa think tank are Chadians right? Atleast throughout this week it's been one testimonial or the other to decrease in food price by "Chadians"!

Putindbutt:
So, prices coming down is propaganda?, Dangote & NNPCL price reduction is propaganda?
Naira stability is propaganda?. We una, no need introducing yourselves 😅😅😂
You were blind when no refinery was working?, when Nigeria was turned into a dumping ground but you want overnight magic. You won't have rest of mind.

i didnt say some aren't Coming down artificially but Coming down from what to what? Lol

There is nothing to celebrate cos the prices are coming from the most abnormal increase ever witnessed in the history of the country down by 50 or 100 naira.

TimeManager:
https://leadership.ng/crash-in-food-prices-shows-economic-policies-working/

I'm still yet to see the price reduction in the South south

Rebelutionary:
Mouthpiece of Nigerians we hear you and your new anthem! The Arewa think tank are Chadians right? Atleast throughout this week it's been one testimonial or the other to decrease in food price by "Chadians"!

Mouthpiece of a notorious narcotics drug trafficker, certificate forger, buccaneering power grabber engaging in criminal state capture

Crash keh!!

Putindbutt:
Isaiah 59:19
When the enemy shall come in like a flood, the Spirit of the Lord shall lift up a standard against him.

Marian, The Spirit of the Lord henceforth shall lift a standard against you and every other enemies of Nigeria, IJN

Satan sef quote bible for Jesus.

Supporting this government alone makes you a liar. You sound like one of the fallen angels quoting the bible.

Thunder fit strike that your dirty tongue. Be careful!

helinues:
Should minimum wage also return back to the previous amount?

Yes, once price of PMS go back to what it was before BAT came onboard

TimeManager:
They say anything that goes up in Nigeria doesn't come down but let me remind you that Tinubu is a jinx breaker, it will even go lower in the coming weeks.


-Kiss the truth!

Great news if prices actually drop! We'll be keeping a close eye on things, and if prices rise again in the coming weeks, we'll definitely speak up and remind you

anonimi:
What reduced the strength of our currency is the excessive increase in taxes and loans to be looted by Buhari, Tinubu and APC as they get more luxury goods to themselves.

what affected the strength of our currency is the sudden devaluation of the naira without a proper risk management involved.

TimeManager:
They say anything that goes up in Nigeria doesn't come down but let me remind you that Tinubu is a jinx breaker, it will even go lower in the coming weeks.


-Kiss the truth!

A well massaged ego 😝. The believers in T-pain don land. Not only jinx breaker but jeans tearer

I pray and hope that this,"crash in food prices" will not happen and end on social media like their 40k per 50kg rice that remains a mirage up till now. May God help us!

These are local products that didn't warrant going higher in prices in the first place but due to the wickedness of the sellers, they put higher prices, claiming that they took buy other things in high prices. Now that the purchasing powers have drastically reduced and people don't have enough money to purchase, the sellers don't have any option other than to crash their prices. For anyone to come out and tell us that economic policies of this government is working, let's see the prices of imported goods. The rice they are talking about are the well-produced/destoned local rice stocked inside Made in India bags. Even India rice is not a good product, very soggy rice if not properly monitored when cooking it. Good Thailand rice is in hundred of thousands.