₦airaland Forum

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

It was the subsidy that brought you to this point. You can even try it yourself by going to borrow money to sustain yourself and your family. You will certainly "enjoy" for a while trust me.

Racoon:
Meanwhile, according to the govt and it hoardes of mummified zombies the economy is recovering yet the foreign reserve is being massively depleted to shore up the naira.

How does a country increase its foreign capital inflows? That, while the country is a heavy import-dependent country? What happens to that country’s currency in such scenario? To the point: what have you or your business exported that is earning $10,000 or more every month? Take that amount and multiply by a large number of businesses and individuals and then, there will be no or less need to defend the local currency (Naira). If not then, manufacture / supply almost all needs of the country locally, little imports such that exports > imports. If you can understand some of these (not even detailed analysis), then you know why such a move has been done.

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...

Madness is not good for a normal human being

ElSudani:
It was the subsidy that brought you to this point. You can even try it yourself by going to borrow money to sustain yourself and your family. You will certainly "enjoy" for a while trust me.

OK
All hail tinubu the master strategist
The key element to the enthronment of buhari who brought us to this point
All hail tinubu!!!!

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

Don't forget the massive looting too and no savings. Maybe with this, you will understand the implications of the action for the future. I doubt if you would understand or agree to it. It's always the usual negativity

Nauttyprof:
Don't forget the massive looting too and no savings. Maybe with this, you will understand the implications of the action for the future. I doubt if you would understand or agree to it. It's always the usual negativity

OK
All hail buhari whose government was based on 100% integrity and no looting

All hail tinubu who is the most honest man alongside akpabio and co

All hail apc

The basics is that the economy has been rendered unproductive.

Foreign inflow is at all time low and oil price is nose diving. inflation is biting harder as naira has been devalued and subsidy yanked off, leaving everyone at the mercy of inflation.

Electricity tariff has increased over three fold since 2023, leaving manufacturers at the mercy of higher energy cost.

Insecurity doesn't look to be subsiding any time soon.

To put is as simple as possible, the economic outlook isn't encouraging.

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

Please, what specific things can Tinubu do to make Nigeria to manufacture goods and services?

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

This is just damage control

Youdontmeanit, I thought the Naira is now in its true value after floating the currency, this Tinubunomics is the more you look, the less you see

Zionmdde:
OK
All hail buhari whose government was based on 100% integrity and no looting

All hail tinubu who is the most honest man alongside akpabio and co

All hail apc

Let me add more to this. Buhari and Tinubu including Jonathan and the coming Obi are all the same and they one way or the other contributed to the state of the country today.

I hope this won't cause you another headache

LegendHero said this was fake news

trillville:
Please, what specific things can Tinubu do to make Nigeria to manufacture goods and services?

Start by removing subsides on power and spending more on vocational and technical education. No more palliatives, no more kwarruption

Nonsense journalism!!!..
How does reduced reserves mean it was use to defend Naira…have they all forgotten they have debts to service in $$??..most of it was use to service debts and not naira defense!

Wainey:
Tinubu gave reforms yet nothing has changed after 2years, and people are hell-bent on voting this disaster back into office.

All reforms, are aimed at strengthening the center, puting more money and power at the centre while weakening states and giving them more allocation to survive. It looks like it will be good for Nigerian but it's just for re-election bid

Some of you just talk without using your brain to reason first. You read the news, yet you still comment like someone without eyes to see

nairalanda1:
Keeping the naira that low got us into the high debt that forced the floating of the naira in the first place

So now are we out of debt? Did we lower our debt during tinubu? Give me the figures buhari vs tinubu debt

Kanixt:
So now are we out of debt? Did we lower our debt during tinubu? Give me the figures buhari vs tinubu debt

I never did say that we are out of debt

The main reason for our debt situation is that government revenue is mainly from oil revenues. For the revenue to be sufficient ie no borrowing, oil prices ... international...have to be above 130 dollars per barrel consistently

Because that isn't possible, we are always in debt.

Like now. When the budget was passed , oil was expected to be at least 75 dollars during this year. It did not happen and that left a shortfall that was filled by loans.

That's not even counting the loans we had to take at the beginning.

There is a reason why tinubu is not a good leader

Edoreborn:
Thieves everywhere you go like mtn.. it's well oooooo

Tinubu is a typical example of what the Yoruba's will call Arungun i.e. someone who like a canker-worm or locust wastes an inheritance.

Hummm

Racoon:
Meanwhile, according to the govt and it hoardes of mummified zombies the economy is recovering yet the foreign reserve is being massively depleted to shore up the naira.

Please can u tell us how much foreign exchange that u have brought into the country in the last 15 months to help stabilize the Naira?

Or it is the duty of other Nigerians to generate forex for u abi?

Ilekokonit:
Tinubu is a typical example of what the Yoruba's will call Arungun i.e. someone who like a canker-worm or locust wastes an inheritance.

Undoubtedly u must be speaking from the reflection of your present situation?

If the CBN is still doing this defending of a thing, then I wonder why they floated the Naira in the first place.