floating of the naira was not a bad policy in itself but the timing with the removal with subsidy make people think so.

And we shouldn't believe that's what causing the naira inflation no matter how the media make us believe. Whats causing the naira inflation is the subsidy removal and its fuel by shortage of dollars in circulation. A big chunk of dollars in this country are been hoarded.

The subsidy removal is the bad and Hasting policy that will destroy any gain of tinubu policy. Nigeria will not recover from any patches or palliative implementation trying to make a correction. Previous loans servicing is also depleting our reserve which results in dollar shortage.

Many years again when Nigeria economy was still strong. The difference between exchange of naira to a dollars usually between 1-5 naira outside the official rate. Anytime there is domestic inflation to the naira it will widening the gap between the exchange rate.

We all know that 1-5 naira has long lost their value. Let say you change 100$ with 5 Naira gain to a dollar that would be 5×100= 500 naira. No body will run that kind of business in today Nigeria. with the risk involved as currency exchange business is a volatile business.

Any country that is suffering domestic inflation will also suffer huge gap with exchange rate. The more the exchange rate gap widening it also has affect on the pricing and economic as the two goes hand in hand.

The subsidy has already cause inflation and continue to do so. and the inflation will continue as much as people realise they are not making enough since there are bills to be paid and the adjustment they will make will also cause problem for others, like for instance the proposed electricity hike and new Fuel price 750 it will be a back and forth.

The profit margin for previous exchange rate before subsidy removal is no longer realistic or unsustainable. A country that is facing domestic inflation will also suffer widen gap currency exchange inflation and it will continue.

Hit the ground running .Was it for EBA, was it for Garri?

Subsidy or No Subsidy, this Tinubu/APC govt is doomed to FAIL!

Tinubu is like a THIEF who stole a Man of God's Bag of Rice.
And used it to Cook Jollof Rice for People to Eat. 😕🙂

What do you think will be the Outcome?

Everyone is a seasoned economist on Nairaland.

BigYash:
Hit the ground running .Was it for EBA, was it for Garri?

you no even get any former education to contribute constructively ?
Wasted sperm...

Tinubu is obviously a clueless president

He know nothing about governance

fineboynl:
floating of the naira was not a bad policy in itself but the timing with the removal with subsidy make people think so.

And we shouldn't believe that's what causing the naira inflation no matter how the media make us believe. Whats causing the naira inflation is the subsidy removal fuel by shortage of dollars in circulation. A big chunk of dollars in this country are beed hoarded.

The subsidy removal is the bad and Hasting policy that will destroy any gain of tinubu policy. Nigeria will not recovered from any patches or implementation trying to make a correction. Previous loans servicing is also depleting our reserve which results in dollar shortage.

Many years again when Nigeria economy was still strong. The difference between exchange of naira to a dollars usually between 1-5 naira. Anytime there is domestic inflation to the naira it will widening the gap between the exchange rate.

We all know that 1-5 naira has long lost their value. Let say you change 100$ with 5 Naira gain to a dollar that would be 5×100= 500 naira. No body will run that kind of business in today Nigeria. with the risk involved as currency exchange business is a volatile business.

Any country that is suffering domestic inflation will also suffer huge gap with exchange rate. The more the exchange rate gas widening it also has infect on the pricing and economic the two goes hand in hand.

The subsidy has already cause inflation and continue to do so. and the inflation will continue as much as people realise they are not making enough since there are bills to be paid and the adjustment they will make will also cause problem for others, like for instance the proposed electricity hike and new Fuel 750 price it will be a back and forth.

The profit margin for previous exchange rate before subsidy no longer realistic or unsustainable. A country that is facing domestic inflation will also suffer widen gap currency exchange inflation and it will continue.

Subsidy removal is not necessarily bad. I don't agree with reason for its removal though. Ineffective border control.
Floating of naira in an import-dependent economy is a bad one.

Things are fast getting out of hand. I foresee the president losing hold of his government very soon, except gets a sensible cabinet.

walefresh3:
you no even get any former education to contribute constructively ?
Wasted sperm...

Dummy you when get formal education,who uses small letter to start a sentence. Dummy tell me, what impact is your useless contribution here on nairaland, making in the scheme of things in the country ?

Oga floating of the naira in an unstable economy is worse than the fuel subsidy removal.

Floating the naira simply means, removing the fx subsidy, which is the background of the fuel subsidy because everything is imported and calculated by the fx rate.

Are you seeing it now? The dumb leader is focused on the arbitrage opportunity been exploited by some few, but forgot the consequences on the masses. In every policy of the government,there are opportunities to be exploited by few ,you can't change that . So you don't implement anti people policy simply because you want to block the opportunity of the few

A good policy is the policy that improves , or ameliorate the hardship of the masses irrespective of the loophole exploited by few

What this man is doing is like a big thief stopping other smaller thieves because he wants to gain the advantage those smaller thieves where exploiting nothing more

Pierocash:
Oga floating of the naira in an unstable economy is worse than the fuel subsidy removal.

Floating the naira simply means, removing the fx subsidy, which is the background of the fuel subsidy because everything is imported and calculated by the fx rate.

Are you seeing it now? The dumb leader is focused on the arbitrage opportunity been exploited by some few, but forgot the consequences on the masses. In every policy of the government,there are opportunities to be exploited by few ,you can't change that . So you don't implement anti people policy simply because you want to block the opportunity of the few

A good policy is the policy that improves , or ameliorate the hardship of the masses irrespective of the loophole exploited by few

What this man is doing is like a big thief stopping other smaller thieves because he wants to gain the advantage those smaller thieves where exploiting nothing more

instead of foolishly floating it, forex at lower rates should have gone towards productive ventures that will see supply of basics rise and price of avoidable imports soar. Most important, local refining should have been prioritized even if it meant deploying army and foreign experts to all govt refineries. Import of diesel, petrol and gas was eating substantial part in of the forex earned from sales of crude oil, denying vital supply of forex to other basic needs.

The president's unwillingness to face corrupt elements was his major undoing. He will regret it.

This your analogy is absolute gabbage!

He was warned not to make the mistake of making two inflation catalyst decision at the same time especially at a time we don't even jave Federal Executive Council to over see them