One day one policy

Great one

Olodo

Willing Buyer forced seller to convert remittance to Naira

How can you discover price in a government controlled exchange rate regime

Liars and thieve's

nlfpmod:


https://nairametrics.com/2024/02/09/cbn-edges-towards-free-float-of-naira-with-discontinuation-of-cap-on-forex-transactions/

If they do expect N5000 to $1

Tinubu is acting IMF and world bank script.
This is what happened when a person is grabbed by the balls

Always doing everything rush rush. . With no adequate modalities to carry the weight of their policies.

Just note;

That the Nigeria state is in a very dire and delicate status now, as you have stretched it's citizens to an extreme edge.

So;

You (the CBN govt, Presidency, and your stakeholders) must be ready to bear the consequence of your puppet experiments on the Nigerian economy.

erniok:
Let the CBN governor know that the rate is getting to 2k/$ without the free floating of the naira. Let us not experience a runaway inflation.

If it's true they've settled their foreign loan/obligations, the free float will bring down the rate.

English!

Even if d head is agbero, why can't he appoint competent people like Jonathan did. Rather he appointed agbero and theives who have nothing to offer.


Tinubu policies lacks sense. It's unfortunate to have such a fellow as Nigeria president.

It’ll rally well for a few days then crash like never before thank God I done japa

And disaster

Let's see how it'll work, Cadoso need to redeem his competency.

So far, he's still struggling to get it right if not he might be seen as ineptitude CBN principal.

May God guide him aright.

Orubebe01:
Trial and error system of government

I thought they said that tinubu is a master strategist a first class graduate of accounting and that he built Lagos. We are seeing how he built the Lagos.

We warned you, but you never listened in the name of let's teach igbos a lesson they won't forget

Lol..


I told someone that Nigeria is the only Country that defile all economic theories and hypothesis when applied to her.


Ceteris paribus

Bola Tinubu has sold this country to his western masters

Issokay

Hmmm... Dollars might get to 2500 to a naira.
Allowing a free flow of our currency to the dollar is really not the best

If u want to prove any economic theory, hypothesis or principles, just apply it to real life Naija situations.




If u succeed, Use the theory.

skj1377:
Disjointed theory. You and your boss will soon be out of a job. Keep on with your senseless policies inducing poverty.

That is what will definitely happen very soon.

Inconsistent government that has no policy direction. Running the economy through trial an error.

Honestly these people are confused!

This doesn't sound as a better policy to me.

There's a lot of risk that comes with this. So many risks. And the Nigeria I know have never been up and doing to be diligent enough to hold the pressure.

A country that result to privatizing majority of their sectors.

ValarDoharis:
Patch patch CBN governor

Do you know better than him or you think he's just making decisions solely on his own. He has Deputy governors and directors who are experts working together and sharing ideas on foreign exchange stability. Some of you just talk as if it is easy to manage Nigerian economy. Please if you know you're better and has the technical skill and ability that supercede theirs, make yourself available and help resuscitate Nigeria economy.

Want to put it here for record purposes;they will later reverse this policy when it goes south as have all policies taken by this goverment.

What happened to the China currency swap deal

I know I wrote this before, when the started touting floating naira as if they knew what it meant.

A free market has opposing market forces. So a floating naira must have two opposing forces. But because these olodos do not understand that currency' trade in pairs,
They think the opposing market forces are willing buyers and willing sellers. This is totally wrong. The market pricing opposing forces for currency are import demand and export demand.



For those moaning about how we must increase out export and production, this is not about trade balance. Nigeria's trade balance us not bad because oil price has been at 100 usd for a while.
For those talking about clamping down and converting people's forex accounts, that will actually have the opposite effect. The more you centralise and regulate, the more you are telling the market that usd is prime and naira us useless. The a third force, government is forcing devaluation of naira indirectly.

The truth is that I cannot believe either, that whole Central Bank does not grasp common secondary school economics concepts of demand and supply.

Import in (demand for) foreign currency and export in (demand for) local currency. Which we do not have.
In Nigeria the corrupt system makes it the worst, since the time of military theives to the civilian theives, we import in foreign currency, and export also in foreign currency. Naira is not even internationally exchangable by law following Awolowo's wisdom from the Biafran war.

As long as this is the case, there is no role for naira in the international trade, so floating it will put it under free fall. To float the naira, Nigeria's crude oil and other exports must be sold in naira. If you cannot do this, simply peg the exchange rate like the military theives did and stop deceiving yourselves!

Reminds me of Lebanon. God save Nigeria

Can naira float?

Roger3D:
Bola Tinubu has sold this country to his western masters

He assumed that postion (presidency) as the richest politician in Africa, and currently, the country's treasury key is in his custody. So he can only get richer.

I pity those clowns vouching to death on the streets and media for him.

If USD becomes N5,000 to $1, these guys will not feel anything and they have lots of cushions (off govt purse) to replenish their personal purses after expenses.

By time a slice of bread becomes N3,500 and bottle of Coke is N750, their eyes will start clearing.

JuanDeDios:

If it's true they've settled their foreign loan/obligations, the free float will bring down the rate.

No it won't

Didn't you see where he said the policy will make price of imported foreign goods very expensive and prohibitive

The rate will even be higher! Higher inflationary pressures, volatility of prices of imported goods. These guys don't have human feeling.

They should work towards stabilising FX and the economy.

I guess this end is where they've been driven at since the floating system began. I pray it yields the right result but knowing this is NIGERIA where sabotages put all their weight behind a dysfunctional system, I'm afraid it may not deliver the right result UNLESS THE CENTRAL BANK RELIGIOUSLY PAY ATTENTION TO EACH PROCESS OF TRANSACTION and sanction infraction as quick as possible with appropriate penalty without minding whose horse is gored.

GOD BLESS NIGERIA

With this silly approach, I am finally lose hope in this government and country entirely. Expect dollar to hit about 3k by December.

We were discussing this afternoon when someone said Nigeria politicians and rulling class will never implement any restriction to uses of dollars locally because they stored their wealth in Dollars as well.

Tinubu might be the last civilian president in this Republic if they didn't bring this hopeless situation down as soon as possible.

adonainana:
NIGERIA PLEASE LEARN AND STOP TRIAL AND ERROR

YOU WANT MORE DOLLARS VIA EXPORTS THEN PLS AS I HAVE WRITTEN DOWN HERE BEFORE

NIGERIA PLS GROW YOURSELF OUT OF POVERTY AND THIS DOLLAR ISSUES

DIVERSIFY THE ECONOMY WE BEG THEE

Nigeria must grow itself out of the problems it currently finds itself. Banning 43 items won’t help, mopping up extra dollars in the banks won’t help, even Dangote refinery won’t help.

Removing cap on international transfers won’t help

Floating the naira won’t help

Only growing what is free and what we used to do before we discovered oil and got cursed in its problem can save us

Agriculture

WE MUST DIVERSIFY THE ECONOMY.

The maths and economics behind this is simple. You import so much and you export just oil thus leaving you with a balance of trade deficit.
Even the oil you claim you export , you cannot refine it properly hence you have to sell the crude oil to countries that can refine it and you buy (IMPORT) it back.

What a waste.

WHY NOT DIVERSIFY THIS ECONOMY FOR CRYING OUT LOUD

INSTEAD of corpers shouting corper wee wee at camps from morning to night . CONVERT ALL NYSC camps to COCOA processing and packaging centres .

Incentivise corpers who are willing to go extra mile and become Agro prenurs by tripling their monthly allowance . Leave the corpers who are looking for white collar job after service alone

Grow cucumbers, lettuce, oranges, pineapples,

ONCE EVERY NYSC camp has been converted to a farming centre send entourages to Europe to look for buyers

Yes NIGERIAN CUCUMBERS, NIGERIAN COCOA, NIGERIAN ORANGES , in tons in their millions

See how much rain falls in this blessed land. Almost every single crop can grow here

Uk imports bananas all the way from South Africa and panama . PLEASE PEOPLE OF GOD. Which country is closer to the UK by sea. Panama or
South Africa

If European countries are NOT COOPERATING and done want imported NIGERIAN COCOA , NIGERIAN BANANAS CLOSE DOWN THIER EMBASSIES or better still sell part of NNPC to them and in return they must buy Nigerian cocoa .

Do you know how many coffee making companies in Europe need cocoa to make coffee and chocolate

AGRICULTURE IS FREE.

Build more NYSC camps and simply extend the scheme to poly graduates and do the same offer them big money to make them and work for the Cocoa farms and the banana Plantations.

The NYSC camps in the south can manufacture tons of food for export

The NYSC camps in the north can manufacture similar food groundnut, wheat etc for export

The Nigerian government in Abuja ensures this products are exported with speeed

What’s wrong with THE UK ONLY IMPORTING BANANAS from Nigeria

What’s wrong with going to France and seeing only imported Nigerian carrots

WHY OIL FOR GODS SAKE

Agriculture is free ,
Sunshine is free
Rain is free

Oil you need to go and first find it , extract the crude oil , find a way to go and refine it , THEN YOU CAN ONLY SELL THE refined oil the price OPEC is selling a barrel at the time of the date. The price of oil is pegged at the international market .

NIGERIA NIGERIA PLEASE WHY GO THROUGH THIS STRESS

PLEASE PLEASE DIVERSIFY THIS ECONOMY.

Go back to what you did before you discovered oil and the oil cursed you , and 50 years on the curse is visible .

Human beings eat and most human beings eat food that are grown inside the ground

No matter how rich a country is in oil , it most import it’s good from somewhere

Do you know how much arable land Nigeria alone has in the south .

Why are we wasting our time with this oil nonsense

Even if it’s bananas

Even if it’s mangoes

At least we know we officially supply another country mangoes and bananas full stop

Converting NYSC camps into mega farms and processing centres where rural farmers can sell their produce and from there the National government can use its power to get it out of the country to sell .

IF ELECTION MATERIALS can get anywhere surely rural farmers can get their produce to the nearest NYSC CAMP that would now serve as mega centres

Even local airports in Nigeria part of it can be conveyed to mega processing farms so some produce can easily be flown to Lagos ports

Please if any one with links to the FG in Abuja can see this . This is not just a passionate plea or advice. THIS IS WHAT WOULD SOLVE NIGERIA PROBLEM ONCE AND FOR ALL

Please we must grow our exports . Agriculture is the only area of
Life where you grow money in the soil.

There is a saying that a farmer can never be poor now imagine a country that exports food to feed the other countries

Please leave Dangote to be selling his own jeje and diversify the economy

Please I am pleading

Regards
Barrister Akinola Samuel Eluyefa
+447591683924

May God bless u 'oh man of wisdom'. My dad was among those dat left vast lands in d east for d pursuit of the city life. He never introduced us, d children to d lands till he died. I was a graduate hovering d streets of Lagos till a sign hit me ' go back home'. I went back, bought hoe and cutlass and started farming. My harvest was bountiful but village people is real. With d vast land, I intend to plant palm trees all over, waiting for my dad's share but my village people. I shall not fear nor relent. U are wise, Agriculture is d key