₦airaland Forum

gidigbam1:
This amount is more than what the UAE Govt used in building Dubai and Abu Dhabi. Imagine if they had invested the money in building such critical infrastructure for us in Naija.

Do you actually trust Nigerian politicians to do that?

Pauladex:
School is a scam gang, how will Nigeria develop if all your life is used to defend naira. You want light, good road but used your resource to defend naira. Which country on earth is doing that? Go back to school and stop been a nuisance.

For two years he stopped defending Naira what has Tinubu built differently from other past presidents, he only succeeded in making his country men poorer and going through hell

Tinubu lied to his SW Supporters to believe that Buhari was the best President Nigeria ever had
Tinubu promised to build on Buhari's legacy, now that Buhari IS No more they have started the politics of hate

See how he's directing their citizens to go verify their propaganda from AI since cbn have fallen...

Goodvibes007:
Past leaders from 1999 spent a total of $388 Billion defending the Naira. Reno is absolutely right.

Your own zombism is irreparable.

Was this not how the Terrorist Apc went about dishing nonsense stats that holds zero water on the lives of the people hustling on the streets of Nija? Did sensible Nigerians not tell an irredeemable walking dead Zombie like you to refute their lies and propaganda? Do you not agree today that bubu was truly a disaster? Tpain is a complete Failure,dis is the only acceptable word on the streets of Nija,the only thing that can change this reality is when We start seeing the changes impact positively on the streets.

Zombism is never Patriotism.

KaLuCh:
As you no get head. Do you understand that the defence of naira meant better purchasing power for our money? As in, the one thing that had a tangible and direct impact on the lives of Nigerians as a result of the crude oil God blessed us with. If the government spent 700 trillion defending the Naira, it was worth every penny of that. It meant my 100k could afford me a decent living. That is the function of the government.

The perdition that we have as a leader stopped defending the Naira, now tell me a single thing that they have done that has the same or better effect on the masses? They tell us to bear with the hardship but dem wont lift a finger to follow us bear. Them dey increase their own salary.

You don collect your thirtykpa for August, wetin Concern you with truth sef? Na me dey waste time comment here.

Yes you are right. It also contributed to the massive debt that buhari and his predecessors left us with.

That money that was used to subsidize the naira was taken from the budget. That leaves a hole which has to be filled with loans and more loans

Also by the end of Buhari admin, we were having issues repatriating dollars, many companies had dollars trapped in Nigeria, and our forex reserve was practically drained. Plus debt service was 97% of our revenue.End result of years of subsidy on naira....it did not start today,it has been there for decades. And paying for overseas transaction using naira card was difficult. And then there was roundtripping.

Subsidy may make your life look easy, but it is essentially using tomorrow money today and taking loans to cover for tomorrow. It always does not end well

That's why tinubu was forced to remove it. Even bad leaders sometimes have to take good decisions

I do not support tinubu. Like buhari he is not making enough revenue for our nation. And like i said, he was forced. It's not a decision he took willingly

Slytiger:
https://tribuneonlineng.com/tinubu-not-lying-actual-naira-value-was-n2000-under-buhari-reno-omokri/

Which type of lie is this one?

We all know why the Naira went down to 2000 Naira is because Tinubu refused to give importers dollars to import( after looting them ) so they turned to the black market BDCs who then hoarded their dollars to cause a steep rise.

Moreover, technically speaking there's actually nothing like Naira subsidy.

And the so called defending of the Naira was actually the government giving importers money to import goods at the prevalent stable rate so that Nigerians can afford it.

So the 1.5 billion dollars Buhari spent every month was actually injected into the economy to make goods and services affordable for Nigerians in correlation with the salaries of Nigerians then.

The difference between the black market rate and official market rate was because of Buhari's nepotism favoring his Fula brothers in allocation of dollars, some of whom used the extra cheap dollars (as they were not importers) to give to the real importers thereby acting as middle men.

These middle men is what Tinubu has actually removed because he couldn't replace them with his Yoruba kinsmen.

However what caused the Naira to move to 2000 wasn't because of the official and black market rate

What caused it was Tinubu's looting of the dollars meant to be injected into the economy for over a year in the name of floating the naira

Then it is time to Avenge the Naira

yarimo:
Bitter ones will soon invade this thread with insults and hateful comment without even reading to understand exactly what it's.

You need to chill for another 3 weeks.
Seun, make blocking indefinite.
Na why your site no fit compare with Reddit, upon say una two started same time.

Slytiger:
https://tribuneonlineng.com/tinubu-not-lying-actual-naira-value-was-n2000-under-buhari-reno-omokri/

Tinubu’s statement isn’t as straightforward as Omokri is trying to frame it. Yes, it’s true that under Buhari the naira was heavily subsidised and the “official” ₦400/$ rate did not reflect reality most businesses and individuals had to rely on the parallel market which was far higher. But saying the naira was already worth “₦2,000/$” before Tinubu took office is misleading, because the black market rate never got close to that level until after the naira was floated
What really happened is that once Tinubu removed the subsidy and allowed a market-determined rate, the pent-up pressure immediately dragged the naira down toward ₦1,900/$, exposing how weak it actually was. Since then, interventions by CBN plus oil receipts and forex inflows have helped it recover to around ₦1,400–₦1,500/$
So, Tinubu isn’t “lying” per se, but his comment makes it sound like he inherited a ₦1,900/$ rate, when in fact the official rate was far lower and the parallel market was around ₦750–₦800 at the time. What he really inherited was an artificially propped-up naira that collapsed once the subsidy was removed.

BlackAdam65:
Tinubu’s statement isn’t as straightforward as Omokri is trying to frame it. Yes, it’s true that under Buhari the naira was heavily subsidised and the “official” ₦400/$ rate did not reflect reality most businesses and individuals had to rely on the parallel market which was far higher. But saying the naira was already worth “₦2,000/$” before Tinubu took office is misleading, because the black market rate never got close to that level until after the naira was floated
What really happened is that once Tinubu removed the subsidy and allowed a market-determined rate, the pent-up pressure immediately dragged the naira down toward ₦1,900/$, exposing how weak it actually was. Since then, interventions by CBN plus oil receipts and forex inflows have helped it recover to around ₦1,400–₦1,500/$
So, Tinubu isn’t “lying” per se, but his comment makes it sound like he inherited a ₦1,900/$ rate, when in fact the official rate was far lower and the parallel market was around ₦750–₦800 at the time. What he really inherited was an artificially propped-up naira that collapsed once the subsidy was removed.

The painful part is that people like you didn't comment on the front page and you force intellectuals like myself to get to page 5 to be able to clap for someone brilliant on this platform.

Your head get plenty oil.

And the oil no go dry.

PotatoSalad:
You need to chill for another 3 weeks.
Seun, make blocking indefinite.
Na why your site no fit compare with Reddit, upon say una two started same time.

go back to your reddit and stop disturbing us here na

Lithiumite:
That guy is far richer than you can ever be, everyone who supports tinubu is looking for appointment but everyone who supports obi is looking for what.......if he was looking for appointments and didn't get,he would have long gone to join your despicable friends in adc who want regine change just cause they are hungry at least amaechi your friend said that much.....not everyone is hungry like you.

No matter what you call it, he is desperately looking for appointment from your corrupt tax-brained BAT. Reno Omokiri I know doesn't have integrity. He is a doubled tongue man. And anyone who doesn't see any negative impact of this miserable renewed hopeless government is either completely blind or just chose to deceive him or herself because of tribalism.

Truvelisback:
No matter what you call it, he is desperately looking for appointment from your corrupt tax-brained BAT. Reno Omokiri I know doesn't have integrity. He is a doubled tongue man. And anyone who doesn't see any negative impact of this miserable renewed hopeless government is either completely blind or just chose to deceive him or herself because of tribalism.

Continue seeing doom,continue seeing the negatives if it makes you happy.....we have chosen to see hope and the positives.