raumdeuter:
I am not an economist but can Ibime help us here
Nigerian budget in 2023 is saying we have a revenue of 10 trillion Naira (I dont know the exchange rate at that time) even if we assume its N400 to a Dollar meaning in Dollar our total revenue is $25bn a year

Yet 2yrs earlier the VP was telling us we spent $3.36bn in 2months which will translate to $20bn in 1yr

Revenue 25bn , Spend 20bn defending dollar so we have $5bn left in an entire year

Maybe someone with better economic knowledge can shed more light or my Maths is off somewhere

but what I am seeing there, there is no way forward besides to stop the Naira Defence academy

Unless our miracle pastors can help us fix it

Emaprince:
Was all that 3.3b spent on defending the naira or was it just an inflated figure whereby some criminals have to loot most of it? Knowing how things works in naija.

raumdeuter:
I am not an economist but can Ibime help us here
Nigerian budget in 2023 is saying we have a revenue of 10 trillion Naira (I dont know the exchange rate at that time) even if we assume its N400 to a Dollar meaning in Dollar our total revenue is $25bn a year

Yet 2yrs earlier the VP was telling us we spent $3.36bn in 2months which will translate to $20bn in 1yr

Revenue 25bn , Spend 20bn defending dollar so we have $5bn left in an entire year

Maybe someone with better economic knowledge can shed more light or my Maths is off somewhere

but what I am seeing there, there is no way forward besides to stop the Naira Defence academy

Unless our miracle pastors can help us fix it

swiz123:


So after supporting Tinubu, you now expect solution from common nairalanders. What exactly then is your support of Tinubu hinged on? Being Yoruba?

If our president doesn't have solution to the suffering of Nigerians then he is useless. We might as well vote prof. Hensben as our president.

Ibime:
Money for defending the Naira is different from budget money. Naira defence comes from foreign exchange reserve. It's not really spent per se, it's just swapped from one asset (dollar) to another (Naira)

swiz123:
So after supporting Tinubu, you now expect solution from common nairalanders. What exactly then is your support of Tinubu hinged on? Being Yoruba?

liveLongNprospa:
Lmao..
It's like me complaining about Mercedes-Benz and you coming to tell me what I would do differently if I owned it?

Nigga do I look like an experienced automobile engineer??
Some questions 😅

Itsrm:


Na wetin make me even remember Oasis. On this thread, he and Raumdeuter were the chief defenders before the election.

OkpaNsukkaisBae:
cc:
Ballzproblem2


Shey u still dey underrate IRAN?. The most sanctioned state in the Middle East. Only them are backing groups in Syria, Iraq, Palestinian, Lebanon, Yemen.

Ballzproblem2:
nigga you go just come out blue to mention me on nonsense were you see me underrate Iran?

they're one of the biggest exporter of oil so what do you expect , mtcheew

OkpaNsukkaisBae:
cc:
Ballzproblem2


Shey u still dey underrate IRAN?. The most sanctioned state in the Middle East. Only them are backing groups in Syria, Iraq, Palestinian, Lebanon, Yemen.

OkpaNsukkaisBae:


See painment!

Sportsweb:
They are terrorist country and have no plan to make their country better. Saudi is slowly leaving terrorism for them and making their country inhabitable for migrants while Iran continues arming several terrorist organization.

User09:
Anyway, like i've always maintained, speculators, hoarders and arbitrageurs need to be taken out so the CBN can actually access and deal with the real demand.

I've always wondered why the fixation on the dollar and using it as a benchmark for economic assessment when the general populace should be worried about other economic indices.

Ballzproblem2:
you wish lol ,I don't give rat ass .

so powerful that isreal is using their commanders in Syria as target practice
shiver me timbers

OasisX:




Naira will bounce back, economy will recover soon. Naija is hard at the moment, very hard to be honest, but I believe PBAT will soon get it right.

Make una no vex, I remain to be an Optimist and a Believer that Naija will be great.

OkpaNsukkaisBae:



You went awol when IDF lost 22 soldiers in a day in Gaza. US recently lost 3 servicemen in Jordan, while scores were injured. We're still for when IDF will rescue ISRAELis that were kidnapped...

User09:


No it wont. At least not in the short or mid term. I still dont see where the supply to meet the exceeding demand will come from

OasisX:


......NNPCL is no longer incharge of collecting crude oil revenues but CBN bruh.

User09:


Even the exaggerated PPP model doesnt predict the current astronomical exchange rate in the market.

What is all this constant monitoring of dollar rate and using it for political and economic assessment. I have seen enough to know that the speculators are the ones driving the market - which I wouldnt be surprised if the CBN folks account for most of this given that a number of their senior directors are involved in the black market business

Like I have always said and would keep harping on. The dollar needs to leave the Nigerian banking system. I'm almost certain it is a radical but the only way to go now.

OasisX:




.......thanks for checking on Oasis. Man is kinda busy with engagements here and there.

Itsrm:


Your suggestion will only worsen the situation. I just finished reading a research paper on what happened when Pakistan did exactly what you're suggesting.

Why are speculators not driving the demand for petrol for instance? The reason people are hoarding it is because its scarce. If CBN floods the market with USD today and the price starts crashing, people will be forced to sell.

Ballzproblem2:
you wish lol ,I don't give rat ass .

so powerful that isreal is using their commanders in Syria as target practice

https://m.jpost.com/breaking-news/article-784150

shiver me timbers 😆

OkpaNsukkaisBae:




Once a state challenge the illegitimate ambition and imperial interest of the US, y'all will tag such state as a terrorist country. But it is even more ridiculous that such a claim is coming from a Nigerian living in Nigeria.

OkpaNsukkaisBae:



You went awol when IDF lost 22 soldiers in a day in Gaza. US recently lost 3 servicemen in Jordan, while scores were injured. We're still for when IDF will rescue ISRAELis that were kidnapped...