₦airaland Forum

benardtotti:
What people don't understand is policies are like graphs , if sustained for a period the graph will correct itself and begin an upward trajectory, Nigeria’s economy is beginning to correct itself and the upward tick is getting stronger.

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate

April 23, 2023

The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

ElSudani:
You can excuse ordinary folks on the streets because all they see are the current spike in prices of goods and services.

But some politicians who actually know what is going on but trying to twist it against well articulated policies are just amazing. I doubt if they really care about the country at all.

anonimi:
May 1, 2025

May Day: Hunger, unemployment, insecurity real— Tinubu

According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”

On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.

Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.

https://www.vanguardngr.com/2025/05/may-day-hunger-unemployment-insecurity-real-tinubu/

orisa37:
JONATHAN'S EXCHANGE RATE NEVER REACHED N150 : $1
NOW UNDER TINUBU, IT IS SAID TO STABILIZE AT N1500 : $1.
1500/150 × 100% = 1000% INFLATION.
NIGERIA IS SWIMMING AND DYING IN INFLATION DELIBERATELY CREATED BY CARDOSO, EDUN AND TINUBU TO FUND THIS NEPOCRACY.

ElSudani:
You can excuse ordinary folks on the streets because all they see are the current spike in prices of goods and services.
But some politicians who actually know what is going on but trying to twist it against well articulated policies are just amazing. I doubt if they really care about the country at all.

Osebanjo:
Omo PBAT meeting with Businesses executives and C.E.Os back then indeed yield fruit. Even stock investors wan die of happiness. Hopefully he’ll look into the mid class and the less privileged too and do something about everybody’s situation.

But now is the right time to invest your money on stock in Nigeria. It was banks just two-three weeks ago, it’s insurance and consumer goods since last week.

Omooba77:
The association, in a statement on Sunday by the NAS Capn, Dr. Joseph Oteri, said these needless deaths, a grim reflection of the desperation gripping many Nigerians, underscore the rising hunger and economic hardship that has engulfed the nation.

The National Association of Seadogs (Pyrates Confraternity) says it is deeply saddened by the tragic loss of over 60 lives in Oyo, Anambra, and Abuja during recent palliative distribution stampedes.

The association, in a statement on Sunday by the NAS Capn, Dr. Joseph Oteri, said these needless deaths, a grim reflection of the desperation gripping many Nigerians, underscore the rising hunger and economic hardship that has engulfed the nation.

“While we commend the government's effort to alleviate the plight of vulnerable citizens through palliatives, it is evident that these measures have been marred by inadequate planning, poor coordination, and lack of accountability,” it said.

According to the group, the chaotic scenes that led to the fatal incidents are an “indictment of the systemic failure to address the root causes of hunger and poverty”.

The group noted that rising hunger in Nigeria is a national emergency that demands urgent action.

“Failure to act decisively will deepen the crisis, with devastating social, economic, and political consequences,” it said.

“We mourn with the families of the deceased and demand that the government ensures accountability for this avoidable tragedy. Hunger should never be a death sentence in a country blessed with abundant resources.”

“It is time to rise to the challenge of ensuring that every Nigerian can live with dignity, free from the scourge of poverty and hunger,” it added.

Therefore, the association called on all levels of government to urgently prioritize sustainable solutions to the hunger crisis.

It said, “Palliatives must reach the intended beneficiaries without endangering lives. Transparent and well-organised systems, with the involvement of community leaders and credible NGOs, should be put in place to avoid chaotic distributions.

“Beyond temporary relief measures, the government must develop long-term strategies to enhance food production, support local farmers, and stabilize food prices.

“Programmes aimed at addressing the needs of the most vulnerable must be scaled up. Access to affordable healthcare, education, and social safety nets is critical to lifting millions out of poverty.

“Policies that create jobs and enhance income-generating opportunities should be fast-tracked to reduce dependency on palliatives.”

The association noted that two of its chapters in Edo State (Area 3) recently had successful palliative programmes, during which over 2,000 underprivileged persons were fed.

It added that one of the key components of the programme was orderliness.

https://saharareporters.com/2024/12/22/deaths-oyo-anambra-abuja-food-sharing-stampedes-are-sign-hunger-economic-hardship

BlackViper:
This only covers the financial statements of five of the biggest companies in Nigeria:

MTN Nigeria, Dangote Cement, Seplat Energy, Nestlé Nigeria, and BUA Cement.

In other words, the biggest companies with the largest market capitalisation and the necessary liquidity to survive sluggish economic growth are the ones being highlighted.

Hundreds of small to medium sized companies continue to go out of business and those that don't are operating well below their capacity utilisation.

Lithiumite:
What is the real value of the naira,GEJ rate it the current rate,what production capacity did Nigeria have to back that overtly artificial rate pre tinubu.... . You would rather we still keep subsidising the dollar so you could keep going to import substandard goods into the country.

So many poor masses as you condescendingly defend have never seen or touched dollar before in their lives as they have no business with dollar rates only the rich does.

thisweekng:
The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.

He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.

He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.

“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.

“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Private sector to drive the economy

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

Ofunaofu:
"Lies, falsehoods, and propaganda from the Lagos-Ibadan Expressway propaganda media."

ElSudani:
Why is this thread being ignored? I guess it's not about doom and gloom. It is about hope renewed.
This is the same economy some enemies of the country said it was collapsing.

villagereporter:
.

What is d swimming in cash translate to you. Has it really any effect on Nigerians or has inflation gone down.

Last week I bought one derica of rice which is four cups of milk 1k dis week alone it is about1200# and dey are telling us Nigeria firms swimming in cash.

Sànpònná ápa bàtá àti jowojowo etí we.

Lithiumite:
Come out with proof....list 5 of such companies..... people have long moved on and are living their lives but here you are preaching doomsday apostasy.

Nefort:
If any policies doesn't help the average man in the streets then it is useless. It seems only companies are making money.

ElSudani:
Why is this thread being ignored? I guess it's not about doom and gloom. It is about hope renewed.
This is the same economy some enemies of the country said it was collapsing.

anonimi:
Why is ebilokan borrowing more money than previous presidents despite removing subsidy on fuel and dollars?

What has he done with the $84 billion subsidy removal savings and the Afreximbank loan? Did he just steal everything to bribe politicians for his 2027 reelection

ElSudani:
Why is this thread being ignored? I guess it's not about doom and gloom. It is about hope renewed.
This is the same economy some enemies of the country said it was collapsing.

Lithiumite:
What is the real value of the naira,GEJ rate it the current rate,what production capacity did Nigeria have to back that overtly artificial rate pre tinubu.... . You would rather we still keep subsidising the dollar so you could keep going to import substandard goods into the country.

So many poor masses as you condescendingly defend have never seen or touched dollar before in their lives as they have no business with dollar rates only the rich does.

Lithiumite:
You missed out the part Enugu state govt just bare 24 hours attesting to the fact subsidy removal have freed up resources for give to be able to fulfill their mandates for the people,we know you did that deliberately out of your misguided folly.....the WTO president, your very own madam okonjo iweala,soludo a reverted former CBN gov,

Bismarck rewane,one of the most highly respected economist in this country,imf,govs etc who are better placed and well informed to speak on such matters as the economy have all come out to vindicate Tinubu's reforms,you are telling us to ignore all those and listen to your illogical gibberish,beer parlor,pedestrian analogy,if the economy is biting you hard,be humble enough to seek new opportunities.

ijustdey:
Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.

Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.

A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.

Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.

In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.

Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.
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‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’

The national oil company announced in August 2023 that the PxF was to support the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.

It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.

At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.

The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).

https://www.thecable.ng/exclusive-nigeria-to-pay-11-85-interest-on-3-3bn-afriexim-nnpc-loan-pledges-164m-barrels-as-security/amp

villagereporter:
.

What is d swimming in cash translate to you. Has it really any effect on Nigerians or has inflation gone down.

Last week I bought one derica of rice which is four cups of milk 1k dis week alone it is about1200# and dey are telling us Nigeria firms swimming in cash.

Sànpònná ápa bàtá àti jowojowo etí we.

villagereporter:
.

What is d swimming in cash translate to you. Has it really any effect on Nigerians or has inflation gone down.

Last week I bought one derica of rice which is four cups of milk 1k dis week alone it is about1200# and dey are telling us Nigeria firms swimming in cash.

Sànpònná ápa bàtá àti jowojowo etí we.

benardtotti:
What people don't understand is policies are like graphs , if sustained for a period the graph will correct itself and begin an upward trajectory, Nigeria’s economy is beginning to correct itself and the upward tick is getting stronger.

villagereporter:
.

What is d swimming in cash translate to you. Has it really any effect on Nigerians or has inflation gone down.

Last week I bought one derica of rice which is four cups of milk 1k dis week alone it is about1200# and dey are telling us Nigeria firms swimming in cash. The reasons for all these is because we are wicked set of people, greedy, selfish and full of hatred.

Sànpònná ápa bàtá àti jowojowo etí we.

SalamRushdie:
Shameless lies

gidigbam1:
Majority of Nigerians sadly do not understand macro economics beyond “how much is rice and garri today,” forgetting that macroeconomics is far deeper covering currency stability, cash flow, debt, productivity, and investor confidence and long-term structural growth. Countries like South Korea and Singapore once endured this short-term hardship we are going through to implement reforms, and today they are economic giants.

As a student of Management Science with in-depth knowledge of macroeconomics, I recall how many of us warned that GEJ’s policies would wreck the economy, and Buhari’s tenure completely did that. When PBAT came in with bold reforms though tough initially we that know were sure that this was the right path. Today’s data shows the economy rebounding, companies generating record cash flows, and the naira stabilizing. This is not luck; it is the outcome of a deliberate strategy that has laid a rock-solid foundation for future growth that could dwarf the combined economies of all the Africa countries in a few years from now.

I didn’t support PO cos beyond his “consumption to production,” slogan, he gave no empirical roadmap or actionable strategy. To those claiming the economy is bad, you don't know better than Global rating agencies like Fitch, Moody’s, and IMF who now rate Nigeria’s outlook positive.

Let’s set politics and ethnic sentiments aside and back PBAT’s transformative agenda as the igbos who control the economy will benefit far better than any tribe once the economy solidifies.