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Nairaland Forum / Nairaland / General / Politics / Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 (24180 Views)
Senate To Invite Emefiele Over Naira Devaluation / Rising Food Prices, Serial Naira Devaluation Compound Nigerians’ Woes / Naira Set To Hit N500 At Parallel Market After CBN Devaluation (2) (3) (4)
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Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by xpmode(m): 8:33pm On Dec 23, 2019 |
ednut1: But they were able to grow the FR while defending the naira since last four years doubled the number they met it 1 Like 1 Share |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by itsme01: 8:36pm On Dec 23, 2019 |
Debaiz: the sad part is USSR/Russia built chinese major steel plants for them when chinese was in a really bad shape, the chinese picked it up and turn around their story.. USSR/Russia did the same with Ajaoukuta and instead of giving them the funds to complete it we started looting the funds back to back 5 Likes |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Ekpekus(m): 8:38pm On Dec 23, 2019 |
Daniel058:Badt guys 1 Like |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by millhouse: 8:43pm On Dec 23, 2019 |
Vortex369:convert your naira to dollar now !!!!!! |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Nobody: 8:46pm On Dec 23, 2019 |
millhouse: Ha ha, I dont remember the last time I kept my values in local currencies. Even the hard currencies, you need to have some buried under a tree, metaphorically speaking, in case there is a war or something and the banks are frozen. Always a prepper. 1 Like |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Bighead9: 8:48pm On Dec 23, 2019 |
mrvitalis: Trash. See imaginary figures. Show us proves of what the East contribute to the economy. The East is a tiny underdeveloped Region. Which contribute nothing to the economy. The only thing they contribute is crimes. 2 Likes 1 Share |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by GuestLog: 8:49pm On Dec 23, 2019 |
Vidsolution79:Done! I wish you well. |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Debaiz: 8:49pm On Dec 23, 2019 |
itsme01: I read PMB has handed it back to them but when it will start is what I don’t know. I believe Ajaokuta should’ve been the first thing for Any serious government. Steel is the main reason the auto industry bill GEJ signed couldn’t have any effect. Everything needed for the development of any country is directly or indirectly tied to steel. One of the earliest and oldest source of foreign trade is steel and one of the reason colonialists leave their countries for africa is in search for steel. That’s the reason why the first thing they mostly do is to construct rails for easy movement. PMB has done a lot but If Ajaokuta is not complete before he leaves, then to me he has failed irrespective of what he’s done. 3 Likes |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by mrvitalis(m): 8:54pm On Dec 23, 2019 |
Bighead9:I know for sure your landlord is Igbo ...go pay your rent |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by rusher14: 8:55pm On Dec 23, 2019 |
Daniel058: No Nigerian in diaspora wishes that. They are well aware attendant inflation follows such devaluation. |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Daniel058(m): 9:01pm On Dec 23, 2019 |
rusher14:read my comment again |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Nobody: 9:05pm On Dec 23, 2019 |
mrvitalis: Do I have to remind you that Niger are Fulani? Ha ha A word is for the wise |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Kingspin(m): 9:06pm On Dec 23, 2019 |
Nigeria keeps borrowing even when they know they have no future. Useless leaders/economy will borrow 10billion and execute projects worth 1billion. Before we could ask a question about 9Billion balance tenure over. |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by KaptainAfrika: 9:10pm On Dec 23, 2019 |
How can one profit from this biko. 1 Like |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Kubernetes: 9:15pm On Dec 23, 2019 |
Fed gvt may be looking at devalueing to reduce the cost of a country's exports which can help shrink trade deficit as it will reduce the cost of a country's exports, rendering them more competitive in the global market, which in turn, increases the cost of imports, so domestic consumers are less likely to purchase them, further strengthening domestic businesses. Because exports increase and imports decrease, it favors a better balance of payments by shrinking trade deficits. That means a country that devalues its currency can reduce its deficit because of the strong demand for cheaper exports 4 Likes 2 Shares |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by awoo47: 9:15pm On Dec 23, 2019 |
Vortex369:what do u mean global? China economy will keep increasing no Matter what happens |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Reference(m): 9:21pm On Dec 23, 2019 |
This is what I said in 2015 when this government first came in with a lot of political capital. That the naira should be floated and gas subsidies removed. A lot of Nigerians argued to the contrary seeming to prefer pills to surgery, management to radical steps. Years down the line we are staring down the barrel of the gun, between the rock and a hard place, having exhausted all the economic pills of credit and taxation we are contemplating doing the needful... with an almost ruined economy. Nigerians abeg, isn't it a tragedy to remove subsidies on fuel and the dollar when we are at the same time neck deep in debt. Why this double tragedy on the people of Nigeria. Why.. 1 Like |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Heffalump(m): 9:25pm On Dec 23, 2019 |
Another speculation to make the Dollar jump |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by rusher14: 9:25pm On Dec 23, 2019 |
Reference: People realised we had no working refineries and all that would happen would be the cost ot petroleum products going through the roof. With Dangote's refinery we are in a different situation altogether. |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by grandstar(m): 9:35pm On Dec 23, 2019 |
I doubt Buhari has the guts to do it especially after denying the fact it exist 3 Likes 2 Shares |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by paix(m): 9:36pm On Dec 23, 2019 |
visijo:Why do guilty people sweat even under the AC? 1 Like |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Fuckgovt: 9:39pm On Dec 23, 2019 |
I thought one old fool said fuel subsidy never existed, that it was a scam. |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by obailala(m): 10:53pm On Dec 23, 2019 |
itsme01:Dangote will not sell fuel for N145, he would price it at well over N200. Even with Dangote and the other modular refineries functioning 100%, government will still need to pay subsidies for petrol to sell for N145. 2 Likes |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Poanan: 10:56pm On Dec 23, 2019 |
itsme01: Dangote is not enough to kill the issue of subisdy. The dangote refinery is a step but not the answer. The crude oil swap has being on, how did you think Aluko made his money? They were just lifting oil without returning any refined crude, not just Aluko but a host of others. As for Ajaokuta steel, Nigerians should forget about it. Yes, cos that organisation will be filled with people who are connected to the government, then they start to declare loss every year. Some of those losses these parastatals declare are deliberate. If you doubt me, go to the parastatals this period and see the way contractors are queued. Nobody goes on leave this period cos all monies must be shared. |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Commanderinpips: 11:03pm On Dec 23, 2019 |
Daniel058: It seems you are selfish bros. Atleast pity people now 1 Like |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by armadeo(m): 11:03pm On Dec 23, 2019 |
cooooooks: An entire country waiting for one private man to save them. We should all just become workers for him. Na wa oh. |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by mrchineke: 11:25pm On Dec 23, 2019 |
Kubernetes: Theoretical textbook nonsense! Is Nigeria a manufacturing country with loyal foreign customers? 2 Likes |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by tiredoflife(m): 2:41am On Dec 24, 2019 |
itsme01: Are u not tired of telling lies Buhari built which refinery God will help u lots Pdp didnt do anything to them Ok your Buhari is back Why are they not working after 4yrs in power |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by Enemyofpeace: 3:06am On Dec 24, 2019 |
Naija don finish
|
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by delgroveng(m): 3:24am On Dec 24, 2019 |
Very true, those who do not understand why the many restrictions on foreign exchange, quota on importation of many goods when their are no local replacement yet. As well as forex quota on items as school fees, shows the Federal Government is aware of the minimal reserve available to back the naira's current value. This Government likes a lot of spending and care less about external income generation or progressive internal income contribution, also they are stretched beyond thing and have gradually sent the message about devaluation. The question now is? How do you hedge against devaluation jconsulting: |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by mrvitalis(m): 3:41am On Dec 24, 2019 |
Vortex369:Niger are Hausa's not Fulani |
Re: Devaluation, Subsidy Removal Among Biggest Predictions For Nigeria In 2020 by cooooooks(m): 3:50am On Dec 24, 2019 |
The FG is banking on him more than anyone else. They gave him forex at crazy low rates so they need that investment to pay off. The implications of a devaluation, during a recession (or period of slow growth) and whilst our exports haven't increased are just too drastic to be allowed. armadeo: |
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