₦airaland Forum

grandstar:
If the Argentine peso needs to be devalued, then it should.

He should learn from Nigerias example. When the Naira went into free fall after the float, there was bedlam. The fall was frightening.

But now, the country is enjoying the results.

Net foreign reserves has increased from $3bn to $23bn.

From the looks of it, he does not want to add further pain to Argentinians.

He is merely postponing the dreaded day. If a devaluation is necessary, it simply has to be done.

Postponing the inevitable will only make things worse.

LZAA:
Another Apcheat minion rowwwnuuing
Enjoyment
You lot are irredeemable

Believeintruth:
Oga the government is borrowing to defend the naira. Tinubu took loans from Afrexim for this purpose. Make una take am easy to dey lie here.

CodeTemplarr:
he is indeed. The economy is fragile and argentines are acting all entitled to good life without commensurate input. The minds of the people have been poisoned to make them lazy yet feeling entitled to free ride from govt. They think govt gets money from thin air. Any paper the govt prints and uses, is backed by the efforts of the people.
Smart nations like France and USA tie thier to inputs or efforts beyond their local populace.

rajiedreez:
What you wrote up here describes the attitude of an average Nigerian. But people won't accept

Image123:
It's the best oh, so far it's not Tinubu. Tinubu is doing nothing increasing reserves from Net $3billion to almost net $30 billion in 2 years. We want Obi who said he'd borrow more like Argentina.

MEEVEET:
Lmao I remember when I told you obi promise to collect lumps sum of 10 to 15 billion loan to float the naira u argued its impossible

When defending currency lump sum loan is the ultimate because it builds confidence... With that u devalue to a figure u can defend for 18 months to build confidence...
- you forget major infrastructure focus on human capital investment especially important substitutes and export oriented businesses

Only a fool would focus on infrastructure when trying to stabilize the economy


APC refused to build confidence, used money to invest in human capital investment to build feel good infrastructure AKA legacy projects
- continue to pay subsidy in petrol and power

Then turn around to ask why it failed

grandstar:
What does APC have to do with this?

Someone is saying 1 + 1 is 2 and you're saying APC?

Read below

https://thenationonlineng.net/subsidy-removal-floating-of-naira-disruptive-changes-nigeria-must-go-through-soludo/

LegendHero:
Who will borrow you lump sum of $15bn when you’re using all your revenue to service 95% loan?

Abeg stop mentioning Obi. Nothing in his record showed anything human capital investment so how exactly will he suddenly pull that off?

If you remove subsidy on fuel and float the currency, if you like borrow $1trn, the people will still feel the brunt and inflation will still be high.

Your capital project you’re trying to build could take years to complete and by that four years, the opposition would have pressured you enough for Nigerians to vote you out of anger.

MEEVEET:
Tinubu have borrowed more than 10 billion dollars since he got into office

LegendHero:
Do you know the meaning of $10bn? Oya show the proof of your $10bn because as at last year, our external loan balance actually reduced.

Believeintruth:
3billion to 30billion in 2 years. Oga take am easy to dey lie..

Image123:
He's called jagabandit for a reason.

https://x.com/cenbank/status/1907171098489217142?t=MwGQm_ITfoRh5KMrwoI0WA&s=19[/quote]Dude please see this from Nairametrics so that you guys will stop lying.

https://nairametrics.com/2025/04/04/cbn-links-foreign-debt-service-to-2-57-billion-drop-in-fx-reserves/

LegendHero:
Who will borrow you lump sum of $15bn when you’re using all your revenue to service 95% loan?

Abeg stop mentioning Obi. Nothing in his record showed anything human capital investment so how exactly will he suddenly pull that off?

If you remove subsidy on fuel and float the currency, if you like borrow $1trn, the people will still feel the brunt and inflation will still be high.

Your capital project you’re trying to build could take years to complete and by that four years, the opposition would have pressured you enough for Nigerians to vote you out of anger.

Misterone:
Big fat lie! It was a crude oil swap that has even been redeemed.

Believeintruth:
Dude please see this from Nairametrics so that you guys will stop lying.

https://nairametrics.com/2025/04/04/cbn-links-foreign-debt-service-to-2-57-billion-drop-in-fx-reserves/

Image123:
What are you on about? i gave you data and report from the CBN, you are directing me to a blog. Are you okay or you simply don't understand? CBN, Grok, and Statisense are you guys once the report/record doesn't fit your narrative.

https://x.com/cenbank/status/1907171098489217142?t=MwGQm_ITfoRh5KMrwoI0WA&s=19[/quote]Oga stop being daft. The data from these sources is not complete. The nairameteic data is the most recent Q1 2025 that shows a decline of over $2billion

Believeintruth:
Oga stop being daft. The data from these sources is not complete. The nairameteic data is the most recent Q1 2025 that shows a decline of over $2billion

Believeintruth:
You smoked something walahi. The collateriwed the loam with crude and you said is a swap. What did they swap it with is it air?
The loan is in 3 year tranches if you must know. It has not even been redeemed.

Misterone:
spewing trash over the net! Rubbish

Image123:
Okay sir, nairametrics is more complete and valid than CBN. Enjoy your bliss

Believeintruth:
Oga shut up go and see the Q1 report on the reserves.

Image123:
Use this one manage weekend Kasongo dear.

Believeintruth:
Oga stop jumping everywhere. Our debt profile jumped by $2b in Q1 2025, and you are showing me 2024.
You don't even know how to position your argument.

Image123:
i have remained in the same spot while you have been hysterical and obviously pissed at the truth. The net foreign reserves moved from $3.99billion to over $23billion. It must sink in.