₦airaland Forum

Hemanwel:
It is visible to the blind and audible to the deaf that the economic policies of this present administration have brought untold hardship on Nigerians and as well, plunged many into the poverty index. This, of course, may be largely due to the removal of fuel subsidy and the floating of the naira at the beginning of this administration.

Many nations of the world have devised various economic policies to tackle the economic woes bedeviling them, and these have been done in relation to the economic realities peculiar to them. While some of the policies have brought economic prosperity to these nations, others have failed woefully. I believe economic policies are not a one-size-fits-all thing. Whatever economic blueprint that worked for country A may not work for country B. That a particular economic policy lifted India out of recession doesn't mean it will work for Burundi. And how do we confirm/conclude that an economic policy is successful? It's how it impacts on the citizens of the country.
If an economic policy or blueprint is intended to better the lives of the citizens of a country, and upon implementation, the reverse happens to be the case, such policy should be discontinued. It means such policy is not feasible and doesn't align with the economic realities of that country.

On that note, I would call on President Tinubu and his economic team to revisit the economic blueprint of this administration, cos it isn't working. It has brought untold hardship on Nigerians, and has taken many from the middle-class into poverty. Tinubu's economic policies have failed!

cc nlfpmod, lalasticlala, seun, mynd44,

lionshare:
Do you have a better idea? What’s your suggestion? Maybe yours is better?

Topman7:
You people never learn.

Let me tell you something. Nigeria was borrowing and paying BILLIONS OF DOLLARS annually to keep the Naira artificially high valued.

Do you have the money to repay for such craziness?

Here's the deal. And every Nigerian should know this.

The ONLY way to raise the value of the Naira is for at least 30% of Nigerians to decide to buy MADE IN NIGERIA over foreign made goods and services.

Note that I didn't say ALL Nigerians.

Just 30%.

And by 'Buy Made in Nigeria', I mean your clothes, shoes, cars, handbags, women deciding to elevate indigenous plaits and braids over spending 1 billion dollars annually importing Brazilian dog hair and bleaching creams to look white.

Men preferring ABA-MADE SHOES to Italian. Instead of scorning your own indigenous products as 'local'.

That attitudinal change alone can create 20 million new jobs for local hair stylists and other indigenous manufacturers and innovators and shore up the Naira virtually overnight.

Our preference for imports is our biggest problem.

It destroys local initiative.

Imagine a Nigerian youth, Audu, that's a skilled watchmaker.

He makes his wristwatches in his makeshift backyard factory and offers them for sale to traders.

You, a Nigerian, walk into the shop to buy a wristwatch.

You see his wristwatch. Made in Nigeria.

You see the wristwatch next to his. Made in Switzerland.

Which one do you pick?

Don't bother responding. We know the answer.

That is why your currency value is LOW.

The Swiss watch is about dollars and Euros, hence the greater demand for those currencies than naira. Hence their high value.

It's simple mathematics you people refuse to learn, as you cover yourselves in imported jeans, t shirts and sneakers, all costing dollars, instead of your local danshiki that is in Naira.

And until your attitudes towards your OWN indigenous innovation changes, your currency value will ALWAYS be low.

And the saddest thing is that as you grow richer, the more foreign your tastes become.

You crave for less 'local' stuff.

It's not about Tinubu or govt.

It's about You.

lionshare:
Do you have a better idea? What’s your suggestion? Maybe yours is better?

Shawarmagirl:
Please oh he should not revisit anything before he will come out and declare again "Minimum wage is gone"

Topman7:
You people never learn.

Let me tell you something. Nigeria was borrowing and paying BILLIONS OF DOLLARS annually to keep the Naira artificially high valued.

Do you have the money to repay for such craziness?

Here's the deal. And every Nigerian should know this.

The ONLY way to raise the value of the Naira is for at least 30% of Nigerians to decide to buy MADE IN NIGERIA over foreign made goods and services.

Note that I didn't say ALL Nigerians.

Just 30%.

And by 'Buy Made in Nigeria', I mean your clothes, shoes, cars, handbags, women deciding to elevate indigenous plaits and braids over spending 1 billion dollars annually importing Brazilian dog hair and bleaching creams to look white.

Men preferring ABA-MADE SHOES to Italian. Instead of scorning your own indigenous products as 'local'.

That attitudinal change alone can create 20 million new jobs for local hair stylists and other indigenous manufacturers and innovators and shore up the Naira virtually overnight.

Our preference for imports is our biggest problem.

It destroys local initiative.

Imagine a Nigerian youth, Audu, that's a skilled watchmaker.

He makes his wristwatches in his makeshift backyard factory and offers them for sale to traders.

You, a Nigerian, walk into the shop to buy a wristwatch.

You see his wristwatch. Made in Nigeria.

You see the wristwatch next to his. Made in Switzerland.

Which one do you pick?

Don't bother responding. We know the answer.

That is why your currency value is LOW.

The Swiss watch is about dollars and Euros, hence the greater demand for those currencies than naira. Hence their high value.

It's simple mathematics you people refuse to learn, as you cover yourselves in imported jeans, t shirts and sneakers, all costing dollars, instead of your local danshiki that is in Naira.

And until your attitudes towards your OWN indigenous innovation changes, your currency value will ALWAYS be low.

And the saddest thing is that as you grow richer, the more foreign your tastes become.

You crave for less 'local' stuff.

It's not about Tinubu or govt.

It's about You.

AMINDA:
The dog that is destined for the grave does not listen to the call of its master.

Hemanwel:
I may not have a better idea; but my point is that, is the current economic plan of this administration intended to make life harder for Nigerians and make people poorer? I guess no! I believe that isn't the intention of president Tinubu. The blueprint may have worked on paper or in other countries; however, it isn't working here based on the economic reality on ground. So, the economic team needs to restrategize. They need to come up with something that relates with what's on ground.

givedemwotowoto:
Tinubu has no magic up his sleeves. He’s out of touch, he doesn’t have it in him. He’s not after governance, he’s after politics. You can’t give what you don’t have.

DeLaRue:
Yesterday, riots broke out in Angola, over increase in fuel price as their government withdraws fuel subsidy.

4 people were killed during the riots.

As one of the largest crude oil producers in Africa, Angola's government and politicians have been spending lavishly in recent years, while subsidising all sorts of things to keep it's citizens 'happy'.

Infact, Luanda, the capital of Angola is more expensive than London or Paris. Such is the level of petro-dollar spending in the country in recent years.

Now, their chicken is coming home to roost. The government is in massive debt. The Angola government can't afford most subsidies anymore. Citizens who thought the fake subsidised life will continue forever are in shock that it will have to stop.

The Op, along with many Nigerians, just refuse to face reality.

For a long time to come, no Nigerian government will reverse fuel subsidy, if ever. Nor will another Nigerian government reintroduce subsidised dollar exchange rate.

Nigeria simply can't afford it.

It is time for Nigerias to roll up their sleeves and work. The government should only help the poorest. Able bodied people have to find their own way out.

Hemanwel:
I may not have a better idea; but my point is that, is the current economic plan of this administration intended to make life harder for Nigerians and make people poorer? I guess no! I believe that isn't the intention of president Tinubu. The blueprint may have worked on paper or in other countries; however, it isn't working here based on the economic reality on ground. So, the economic team needs to restrategize. They need to come up with something that relates with what's on ground.

Hemanwel:
I may not have a better idea; but my point is that, is the current economic plan of this administration intended to make life harder for Nigerians and make people poorer? I guess no! I believe that isn't the intention of president Tinubu. The blueprint may have worked on paper or in other countries; however, it isn't working here based on the economic reality on ground. So, the economic team needs to restrategize. They need to come up with something that relates with what's on ground.

Ritchiee:
I beg to disagree with you.
The policies are working according to economic experts,FITCH Ratings etc even the economy has grown more than before according to World Bank,IMF and others.
Our main problem is that it is not trickling down fast enough to the common man on the street coupled with the killing of farmers which had taken food out of the reach of the poor masses..

The only quick solution which the Tinubu administration had mulled is to import various types of produce,flood the markets and crash prices but the consequences are also grave because millions will be thrown out of job and unemployment will worsen.

All what Tinubu is doing now should have been done long time ago.
I doff my hat for President Tinubu for having the gut to do this in his first term and I know he is going to survive it and get his second term because I have seen a lot of Nigerians who,like me,believe that Nigeria and Nigerians will be better,richer and stronger in a couple of years if these policies are expansively implemented.

Ritchiee:
I beg to disagree with you.
The policies are working according to economic experts,FITCH Ratings etc even the economy has grown more than before according to World Bank,IMF and others.
Our main problem is that it is not trickling down fast enough to the common man on the street coupled with the killing of farmers which had taken food out of the reach of the poor masses..

The only quick solution which the Tinubu administration had mulled is to import various types of produce,flood the markets and crash prices but the consequences are also grave because millions will be thrown out of job and unemployment will worsen.

All what Tinubu is doing now should have been done long time ago.
I doff my hat for President Tinubu for having the gut to do this in his first term and I know he is going to survive it and get his second term because I have seen a lot of Nigerians who,like me,believe that Nigeria and Nigerians will be better,richer and stronger in a couple of years if these policies are expansively implemented.