The Naira has finally been allowed to float.

Reports reaching Nairametrics indicate the central bank has given commercial banks and dealers in the forex market the green light to sell forex freely which is at a market-determined rate.

This is in line with the promise of President Bola Tinubu to unify the multiple exchange rate in the market.

The initial understanding of this message is that banks can now sell forex at market-determined rates, suggesting Nigeria is now operating a freely floating exchange rate.

Tinubu finally float the Naira. Time for Nigeria to stop living a lie

GeneralDae:

CBN did not devalue the naira yet.
Speculation by dailytrust newspaper.

It’s seems this news was true.

They tested the market to see the response.

Shaytun:
The Naira has finally been allowed to float.

Reports reaching Nairametrics indicate the central bank has given commercial banks and dealers in the forex market the green light to sell forex freely which is at a market-determined rate.

This is in line with the promise of President Bola Tinubu to unify the multiple exchange rate in the market.

The initial understanding of this message is that banks can now sell forex at market-determined rates, suggesting Nigeria is now operating a freely floating exchange rate.

,I know Tinubu will not backtrack like Buhari did in 2016 after the old soldier panicked when he saw the value of the naira plummet.

Tinubu is trying to push as much reform in a short amount of time as possible.

Then sit back and use his divide and conquer tactics to fight the response.

He held meeting with NANS yesterday against ASUU, Now NANS and ASUU are at loggerheads.

Did the same thing with the petroleum marketers and IPMAN.

Same with Labour and TUC.

Shaytun:
Tinubu is trying to push as much reform in a short amount of time as possible.

Then sit back and use his divide and conquer tactics to fight the response.

He held meeting with NANS yesterday against ASUU, Now NANS and ASUU are at loggerheads.

Did the same thing with the petroleum marketers and IPMAN.

Same with Labour and TUC.

Those reforms are long overdue. That's why he seems to be pushing them out constantly. He'd watched from the sidelines for a long time, since Abiola's days of fighting for the presidency. Some of these reforms were in Hope93 plans.

Obaaderemi2:
Those reforms are long overdue. That's why he seems to be pushing them out constantly. He'd watched from the sidelines for a long time, since Abiola's days of fighting for the presidency. Some of these reforms were in Hope93 plans.

There have been some quiet reshuffling going on in some MDA’s.

Man has not even form his cabinet, he knows the longer you delay things in Nigeria the harder it is to do.

Just ripped the band aid off seems to be the solution to Nigeria problem trying to window dress it and look for soft landing will not work.

He’s experienced

Obaaderemi2:
,I know Tinubu will not backtrack like Buhari did in 2016 after the old soldier panicked when he saw the value of the naira plummet.

😂😂😂

The bitter truth people like Austin can't swallow.


https://www.youtube.com/watch?v=jHxh_sQHH0E

40% of companies making $1 billion revenue or more in Africa are in SA.

Look at tiny Kenya

Shaytun:
40% of companies making $1 billion revenue or more in Africa are in SA.

Look at tiny Kenya

How many companies in West Africa are not involved in mining and oil?

Mkenya2019:
You're funny as fck.
How can Ruto rig - state backed candidate?
Uhuru was epic failure - he lost in every polling station in his Mt kenya backyard including his own polling station.
Kenyans are very wise and made the great decision because they had seen the mess.
When talking about debt - put the entire debt - dont cherry pick external debt.

Let me repeat. again.
Uhuru 1st term - was great success and that success was due to Ruto.
They managed to improve from 50% of 2013 - to 55% in 2017

You know why - two things - rural paved of roads - that doubled from 11,000 to 20,000!
In my county - we had like 100kms paved - by that first time it was almost 400kms.
2nd success was electricity - Jubilee found Kibaki had done I think 1.5m or something - they moved it 5-6M in 5yrs.
Suddenly every village had electricity.

Both - low seal volume rural roads and electricity densification were Ruto brainchild.

Those two were main vote winners - nobody gives a damn about SGR - maybe the people along the SGR route were happy during it's construction. After construction they felt nothing.

2nd term was pure disaster - because outside of the momentum from electricity and low seal volume roads - Uhuru failed in Big 4.

That failure came to bite him on election time - especially how he mishandled Maize - staple food in kenya.

That maize and food inflation killed him - in election booth - Not RIGGING

Now youll see Ruto has restarted intervention in especially maize subsectors and indication are we heading for bumper harvest and surplus.
Ruto remember had as minister of agri in 2008 inherited similar mess - and in 2yrs - we were having huge surplus of maize.
Many people by 2010 - were looking for a place to dump excesss maize.

I see Azimio nutcase shouting that Ruto will fail and laugh
They clearly dont know the man.

So far Ruto has done incredibly well - and he will win 2027 by huge landslide.

Kenya is definitely on the right trajectory. The rule of law is back. No more extrajudicial killing. Ruto is going to suprise many by his anti-corruption action as youve seen with KEMSA and sugar thing.

Kenya has serious debt problem but if Ruto negotiate next year - then we are good to!!

It's not rocket science; he rigged! Musando's hand was not chopped off for no reason! Bladegash and too much theorem won't dispute this. Check the context! No one is against his current win, you're doing your nuts for nonecontexualize submission, re-read what I posted.

Again, wrong!
Uhuru's second term was the best! I highlighted just herein, the pointers. Money misappropriation was the cardinal factor for their legacy, guys were on a looting spree. Nothing much was achieved! 2nd term, yeah! We could see Completion of sophisticated infrastructure not experience anywhere in EA. Kenyans were convinced! More road networks were achieved in the second regime, it's not a coincidence that Ruto was not there.

Mhh... You're off-Topic!
I acknowledge what you're saying, but the context! I came in to correct one part! "Uhuru's first term was the best"_ The rest of your theorem? You're spot on.

Correct! Subsidizing maize was a guaranteed blowback! It was just a matter of time! Let's blame Agrics CS, munya! For starters, his qualification was not merit-based! Loyalty and politics played a huge role, and that thing will mess Ruto too _ my repugnancy towards Ruto's regime is in that regard.

I agree.. Ruto is doing well. So far so good, on my side! I hope his tax incentives will be short-term (specifically the housing levy).

Shaytun:
40% of companies making $1 billion revenue or more in Africa are in SA.

Look at tiny Kenya

Let Morocco and Egypt speak! Nigerian companies outside mining are SAns "boer " owned! MTN for instance!

Typical Azimio nutcase.
Ruto was terrible but now he is good What kind of logic is that?

For me who I have tracked Ruto closely for 20yrs - Ruto has always been excellent - hardworking, effective and go-gett.

Anyway
These things were long settled by Kenyans on the ballot.
You're blowing hot and cold because Azimio lost.
You are rigged in every election - even when you were one rigging.
Ruto would have won by 55% - but Azimio rigged a lot - but thankfully not enough to overturn kenya will.

Today Ruto was address Engineers conference few minutes - Listen to him keenly talk about how he revolutionized the roads working with Eng Maingi and Eng Mosonik.Now you want to attribute success to a useless drunkard like Uhuru - who cannot even handle his alcohol

Listen from 7 minutes - this just about 2 hours ago

https://www.youtube.com/watch?v=0It4zC7KLrQ

Shma2023:


It's not rocket science; he rigged! Musando's hand was not chopped off for no reason! Bladegash and too much theorem won't dispute this. Check the context! No one is against his current win, you're doing your nuts for nonecontexualize submission, re-read what I posted.

Again, wrong!
Uhuru's second term was the best! I highlighted just herein, the pointers. Money misappropriation was the cardinal factor for their legacy, guys were on a looting spree. Nothing much was achieved! 2nd term, yeah! We could see Completion of sophisticated infrastructure not experience anywhere in EA. Kenyans were convinced! More road networks were achieved in the second regime, it's not a coincidence that Ruto was not there.

Mhh... You're off-Topic!
I acknowledge what you're saying, but the context! I came in to correct one part! "Uhuru's first term was the best"_ The rest of your theorem? You're spot on.

Correct! Subsidizing maize was a guaranteed blowback! It was just a matter of time! Let's blame Agrics CS, munya! For starters, his qualification was not merit-based! Loyalty and politics played a huge role, and that thing will mess Ruto too _ my repugnancy towards Ruto's regime is in that regard.

I agree.. Ruto is doing well. So far so good, on my side! I hope his tax incentives will be short-term (specifically the housing levy).

gallivant:


How many companies in West Africa are not involved in mining and oil?

Minus Dangote and SA, I don't see Nigeria doing better than Kenya, Notwithstanding the population!

Mkenya2019:
Typical Azimio nutcase.
Ruto was terrible but now he is good What kind of logic is that?

For me who I have tracked Ruto closely for 20yrs - Ruto has always been excellent - hardworking, effective and go-gett.

Anyway
These things were long settled by Kenyans on the ballot.
You're blowing hot and cold because Azimio lost.
You are rigged in every election - even when you were one rigging.
Ruto would have won by 55% - but Azimio rigged a lot - but thankfully not enough to overturn kenya will.

Today Ruto was address Engineers conference few minutes - Listen to him keenly talk about how he revolutionized the roads working with Egineer Maingi and Eng Mosonik.
Now you want to attribute success to a useless drunkard like Uhuru - who cannot even handle his alcohol.

Listen from 7 minutes - this just about 2 hours ago

https://www.youtube.com/watch?v=0It4zC7KLrQ

Don't cry already! I'm not an Azimio supporter. I was then, not anymore. I support Ruto not because he's holier than thou; but because he's already our president_ I can do nothing about that outside supporting his great ideals. I will criticize him when I feel like.

The rest ni story buda.

I can call you a typical KIPMENO theorist, following your tribe's man blindly! I didn't! Stop calling me Azimio nutcase for my views. unless you're in for jabs. An intelligent person will make criticism once in a while.

Ok.
I will cut you some slack.
At least you're recovering very well.
And you're patriotic.

Shma2023:

Don't cry already! I'm not an Azimio supporter. I was then, not anymore. I support Ruto not because he's holier than thou; but because he's already our president_ I can do nothing about that outside supporting his great ideals. I will criticize him when I feel like.

The rest ni story buda.

I can call you a typical KIPMENO theorist, following your tribe's man blindly! I didn't! Stop calling me Azimio nutcase for my views. unless you're in for jabs. An intelligent person will make criticism once in a while.

Mkenya2019:
Ok.
I will cut you some slack.
At least you're recovering very well.
And you're patriotic.

I didn't vote, I'm not pro-politics, Nothing to recover! I'm here to waste time, learn, unlearn and defend my great country. I'm also here to critique.

Shma2023:

Let Morocco and Egypt speak! Nigerian companies outside mining are SAns "boer " owned! MTN for instance!

u're kind of funny.

Let Morocco and Egypt speak, u say? 🤣🤣🤣.

Shma2023:

Minus Dangote and SA, I don't see Nigeria doing better than Kenya, Notwithstanding the population!

u don't have a point, really. This is just a classical case of pull down syndrome.

Nigeria had over 20 companies listed, Kenya has 6 and u still don't see Nigeria doing better in that regard, better go and exchange ur eyes at the nearest abattoir!!!

gallivant:


How many companies in West Africa are not involved in mining and oil?

perception.

Mkenya2019:
Tinubu finally float the Naira. Time for Nigeria to stop living a lie

It will be good for their economy, but it will be a bad news for those who loves that tag of Africa's biggest GDP. Definitely the GDP figures will change.

I remember when Egypt were forced by IMF to float the pound,suddenly after few months their GDP went down and SA became number 2.
I now expect S.A. to take back their crown for a while before the United republic come and grab it for good

Nigeria is 3rd place in GDP in Africa.

Can any one update current GDP of African countries.

Shaytun:
40% of companies making $1 billion revenue or more in Africa are in SA.

Look at tiny Kenya

Mmmh SA I too much.

I think these are companies listed on stock markets

EKONGKING:
Nigeria is 3rd place in GDP in Africa.

Can any one update current GDP of African countries.

Lets wait and see

I suppose the correct figures will be after few months when the naira have settled at her right place

theenchanter:
u don't have a point, really. This is just a classical case of pull down syndrome.

Nigeria had over 20 companies listed, Kenya has 6 and u still don't see Nigeria doing better in that regard, better go and exchange ur eyes at the nearest abattoir!!!

How is it my fault that chronic cognizance deficiency is only attached to your your shrimp brain cells? Simple comprehension is an apparent rocket science, heck! let's view it from a different glance; I might be blaming your cognitive ability to grasp on the expense of an outright glaucoma syndrome.

23 vs 6
Out of 23, remove Foreign companies, Mineral related and Dangoteism(my point), what are you left with? Few banks which can pretty much measure up to Kenya! Banks thrive well in huge population, yes, Nigeria is 4 times Kenyan population! Isn't that concerning? Value per - capita will speak volumes! Only SA is out of the league.

theenchanter:
u don't have a point, really. This is just a classical case of pull down syndrome.

Nigeria had over 20 companies listed, Kenya has 6 and u still don't see Nigeria doing better in that regard, better go and exchange ur eyes at the nearest abattoir!!!

I burst out laughing. Nigerians and bad mouth. Exchange his eyes for what exactly?

Kazikazi:
It will be good for their economy, but it will be a bad news for those who loves that tag of Africa's biggest GDP. Definitely the GDP figures will change.

I remember when Egypt were forced by IMF to float the pound,suddenly after few months their GDP went down and SA became number 2.
I now expect S.A. to take back their crown for a while before the United republic come and grab it for good

You are an original werey.

EKONGKING:
Nigeria is 3rd place in GDP in Africa.

Can any one update current GDP of African countries.

Nigeria can never be ahead of Egypt or SA. Nigeria GDP though mineral and population based, is not light year ahead of Morocco or Kenya.

Nigeria true GDP is 250B. They were living a big lie of being Africa giants. South Africa or Egypt are biggest African economy.

Look it matching the black market rate - it will likely come down to 700 to Naira.

"The Investors & Exporters (I&E) window is now quoting a range of between N750 -N755/$, according to customers who cited emails received from their banks. The Central Bank of Nigeria (CBN) is however still quoting N463/$ as the I&E rate on its website but the last time it updated the rate was June 9."

Kazikazi:
It will be good for their economy, but it will be a bad news for those who loves that tag of Africa's biggest GDP. Definitely the GDP figures will change.

I remember when Egypt were forced by IMF to float the pound,suddenly after few months their GDP went down and SA became number 2.
I now expect S.A. to take back their crown for a while before the United republic come and grab it for good

theenchanter:
u don't have a point, really. This is just a classical case of pull down syndrome.

Nigeria had over 20 companies listed, Kenya has 6 and u still don't see Nigeria doing better in that regard, better go and exchange ur eyes at the nearest abattoir!!!

Shaytun started it.

Shma2023:

How is it my fault that chronic cognizance deficiency is only attached to your your shrimp brain cells? Simple comprehension is an apparent rocket science, heck! let's view it from a different glance; I might be blaming your cognitive ability to grasp on the expense of an outright glaucoma syndrome.

23 vs 6
Out of 23, remove Foreign companies, Mineral related and Dangoteism(my point), what are you left with? Few banks which can pretty much measure up to Kenya! Banks thrive well in huge population, yes, Nigeria is 4 times Kenyan population! Isn't that concerning? Value per - capita will speak volumes! Only SA is out of the league.

Remove Dangote, Remove mineral company, Remove MTN , Remove This remove That, you will soon ask us to Remove the name of Nigeria sef.

I guess as we are removing from Nigeria, we will be adding to Kenya abi, or is it only Nigeria that removing is allowed.

Mad fellow, Better go and cure your envying