₦airaland Forum

nairalanda1:
GEJ was able to do that for the same reason we were able to have one naira at one dollar in the seventies.

Sky high oil prices , sometimes as high as 120 dollars per barrel for months

Even then he drained the reserves from 60 billion in 2009 to 32 billion by may 2015 to pay for the subsidy and keeping the naira strong.

Keeping naira strong is an expensive proposition. By the later half of 2014 Nigeria was borrowing to keep up.

Zionmdde:
It's a lie joor

Because of tinubu's wonderful economical policies, everything is perfect, cbn has no need to defend any naira
GEJ that was defending naira at 250 and was still paying subsidy while fuel was 97 naira was a failure

Buhari that was defending naira at 450 and was still paying subsidy while fuel was 165 was a failure

Tinubu the jagaban defending naira at 1600 without subsidy and fuel at 900 is a master piece strategist

All hail master tinubu

crossbreedwears:
I don't think there was time a dollar was 250 naira during GEJ time

Zionmdde:
In summary
All hail master Tinubu

crossbreedwears:
I don't think there was time a dollar was 250 naira during GEJ time

regenerateman:
We warn him when he floated the NGN that no country on earth floats her currency, but rather countries defend their currencies. His handlers said he is an economic guru who developed Lagos and he can replicate the same thing in Nigeria. When he floated the naira and removed subsidy, the economy plummeted and nosedived at all time level. Prices of items were rising every minute. The rate of USD to NGN was nearing 2k. He had to back tracked and started paying subsidy at the same time defending the naira. The subsidy reintroduced and the defence of naira are the reason while things are stabilizing now.

nairalanda1:
More like we have to go to being an industrial nation so that we can have reserve in the trillions of dollars .

Master tinubu is still a bad leader though. You won't get an argument from me there. But so also were most of our past leaders, including your beloved gej

Again it boils down to our country being a resource dependent country. That's why we can't sustain strong currencies for a long time.

Tinubu is not doing anything about changing us to manufactured goods and services economy because he wants to get reelected, not to leave good legacies

nairalanda1:
True . At worst 216.

KeyStakeHolder:
Honestly, Tinubu's team is doing their best in these hard times, defending the naira like this isn't unusual; even advanced economies like japan and china actively intervene to stabilise their currencies. It's all about buying time while deeper economic reforms kick in.

We are getting there...

KeyStakeHolder:
Honestly, Tinubu's team is doing their best in these hard times , defending the naira like this isn't unusual; even advanced economies like japan and china actively intervene to stabilise their currencies. It's all about buying time while deeper economic reforms kick in.

We are getting there...

NwaliE01:
Why did we float the naira and still defend it as always?

Zionmdde:
GEJ is not my beloved

Now All Hail Master Tinubu

Kanixt:
Naira was 600-700 unofficial while buhari was defending it, you came into power and called it fraud by free floating the naira to over 1500.
As it 1600 you still want to defend naira with over 4 billions, who does that .

You could have monitored the situation and keep on defending naira when it was 400 official but you rejected it......see where you are planning to land the country into total failure. Not good at all

cjudy:
Remove subsidy for fuel and be paying it to defend Naira. This government no get direction ajeh

ogododo:
https://punchng.com/cbn-injects-4-1bn-to-defend-naira-as-reserves-decline/

regenerateman:
We warn him when he floated the NGN that no country on earth floats her currency, but rather countries defend their currencies. His handlers said he is an economic guru who developed Lagos and he can replicate the same thing in Nigeria. When he floated the naira and removed subsidy, the economy plummeted and nosedived at all time level. Prices of items were rising every minute. The rate of USD to NGN was nearing 2k. He had to back tracked and started paying subsidy at the same time defending the naira. The subsidy reintroduced and the defence of naira are the reason while things are stabilizing now.

nedu666:
I thought zombies claimed that the cbn is no longer defending the naira. Imagine defending a currency at 1600 yet zombies condemned the same act under Jonathan.

KeyStakeHolder:
Honestly, Tinubu's team is doing their best in these hard times , defending the naira like this isn't unusual; even advanced economies like japan and china actively intervene to stabilise their currencies. It's all about buying time while deeper economic reforms kick in.

We are getting there...

KeyStakeHolder:
Honestly, Tinubu's team is doing their best in these hard times , defending the naira like this isn't unusual; even advanced economies like japan and china actively intervene to stabilise their currencies. It's all about buying time while deeper economic reforms kick in.

We are getting there...

KeyStakeHolder:
Honestly, Tinubu's team is doing their best in these hard times , defending the naira like this isn't unusual; even advanced economies like japan and china actively intervene to stabilise their currencies. It's all about buying time while deeper economic reforms kick in.

We are getting there...