Wednesday, July 19, 2023
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What caused the price of patrol to go up?
ReplyDeleteSerious wahala dey oo.
ReplyDeleteThis is the for those that thought the president is the problem because he's not favoured by them. The best solution to this for our refineries to start working which is not a day job. And doesn't require any miracle.
ReplyDeleteWe are in serious wahala fa.
ReplyDeleteWhy did the economic illiterate go and touch the leveraging of the cbn rates to the black market? Is it not for him to get more value for his stolen dollars in naira! Tinubu is evil 😈 and God will continue to punish him and his agbadorians!!!
ReplyDeleteWhat caused the value of the foreign currency to go up? Was it not the utterances of sai baba and the CBN Governor's half-baked policies?
ReplyDeleteWhat is the current administration doing to address this? How will sharing $800M help the value of naira since the price of everything people need to survive is tied to the conversion rate?
Naira had now been floated so the reason it weakens against the dollar is either higher demand for it or lower supply. These are very simple economic realities. Unless we reduce demand by making and buying Nigerian and making it goods and services competitive, little to day. The beginning system has largely been reformed with the new policies. It's left for private citizens and corporations to key in.
DeleteAll over the world, even in BRIC nations, crude oil is sold in USD so that ensures global demand for the currency. No single candidate it president can change it unless they take money that isn't there to hedge the price. This is what tired the UK under PM John Major causing it to stop hedging it's currency for exit even the GBP inflated to 1000s of percentage points within hours and the save had happened to Sri Lanka and Argentina in the recent past.
Turkey has remained strong on basics because despite the high inflation worldwide, many earn in foreign currency and private businesses are boosting production and services. The question is now what you are doing for Nigeria, not what we know it cannot afford to do for anyone that it was using agidi to do before.
Let us accept with humility that only one state in the federation can afford to fund it's budget and the rest are mere beggars. It's time for real hard choices and seriously thinking into solutions.
Thank you so much for stating it plainly. People pretending as if they have not been buying deregulated diesel since the days of OBJ.
ReplyDeleteEvery major candidate said they will completely remove subsidy and no single one highlighted palliatives because the country account was already in the red. Every one of your faves directly or indirectly played a part in today's financial reality. Until the coffers swell a bit, the really is no money unless we borrow and as the president has now accepted, it is unwise to spend borrowed money on consumables to assuage current pains if we want to improve our account balance in order to be more credit worthy. .
Mr President should continue to listen to seasoned experts like Alaje who are advising input of 1bn per LGA to target agriculture. Transport can be faxed with the planned conversion to compressed natural gas which will definitely take time. PMB with all his flaws got that part right but if we don't wait till the last minute, most won't be all right.
PMB didn't get nothing right! Is not to write long essays! We will not continue to accept economic illiterates as leaders! Nigeria 🇳🇬 will go in pieces ,because BAT is not our president!We didn't vote for him.
ReplyDeleteHelp me tell them oooo!!!
DeleteI thought after they removed Emefiele and floated the naira, the exchange rate go crash. aashee na very long road una dey so o and it till is going higher higher higher, e go soon reach 1,000 naira to a $.
ReplyDeleteE also be like say naija people go begin buy bicycle enmass as preferred mode of transportation, as them dey do for China abi na Japan sef.