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Nairaland Forum / Nairaland / General / Politics / Naira Floating by Tinubu was Ill-advised-Atiku (13064 Views)
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Re: Naira Floating by Tinubu was Ill-advised-Atiku by BeautifulSmiles: 3:00pm On Feb 18 |
onatisi: Which fake stories? Which of them is fake? See how you want to defend a corrupt Nigerian politician, continue as much as your strength goes. |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Gajagojo: 3:07pm On Feb 18 |
onatisi: What credible plan is he presenting here? |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by seborrhic: 3:15pm On Feb 18 |
He made SOME sense. I have said and will continue saying it,only a mentally retarded president will remove fuel subsidy and float the Naira at the same time. In short floating the Naira alone would have caused enormous shocks in our economy for the reasons Atiku highlighted.If you now remove subsidy and at that same time completely float your currency,you should count yourself lucky to still be in office,be you an American,German,British or Chinese President,talkless that of Nigeria with our extreme poverty levels. It's only a military regime that could even contemplate coming up with such a mad policy,but bet the next few days the military leaders bullet riddled bodies would be lying on the streets,paraded and celebrated. 2 Likes |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by GeneralDae: 3:26pm On Feb 18 |
Nice2023:He didn't say that. Post the full video with your full chest if you get mind. You crop 2 seconds of a video and come out with your own theories. 1 Like |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by onatisi(m): 3:28pm On Feb 18 |
GeneralDae:Obj got a good deal for it from Dangote , sold it off . If Nigerians had allowed it to go ahead , by now we would have stopped fuel importation like 15 years ago 1 Like 1 Share |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Agbegbaorogboye: 3:30pm On Feb 18 |
Difrent:This time around? Even in 2019 he had far better ideas than Buhari. You guys were just too soaked up in political sentiments to see beyond your nose 1 Like |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by onatisi(m): 3:32pm On Feb 18 |
atiku was the only presidential candidate who presented a well-articulated economic recovery plan, the only plan tinubu presented was employing 1 million Nigerians into the police force and feeding them with corn and cassava Gajagojo: 4 Likes 2 Shares |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Ofunaofu: 3:33pm On Feb 18 |
Sangoamadioha1: The most useless statement ever made by a newly sworn in president in the entire world is that "subsidy is gone" statement Tinubu made at his inauguration ground 3 Likes |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Nice2023(m): 3:35pm On Feb 18 |
[/b][b] GeneralDae: If u are smart and not a tribalist,u would know that I don't blab. First of all argue against the newspaper one. ThenGoogle out 11th Bola tinubu colloquium. Then,u will see that stubbornness is the reason why u guys are serial tribalists. |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by GeneralDae: 3:48pm On Feb 18 |
Nice2023:I have watched the video and he didn't say that. 2 Likes 1 Share |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Iamblessed85: 4:44pm On Feb 18 |
tsdarkside: I keep saying this. For about a year now, i’ve not come across a dollar note in this country. I don’t have to and I don’t need it. I have been spending in naira. Who are those spending this dollar apart from importers? 1 Like 1 Share |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Gajagojo: 4:55pm On Feb 18 |
onatisi:Again? What plan is he articulating here on floating the Naira? 1 Like |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by GeneralDae: 5:16pm On Feb 18 |
Iamblessed85:Politicians. Your Governors with high FAAC allocations. 1 Like |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by blacknp(m): 5:22pm On Feb 18 |
Nice2023:Statement made in 1997 under General Abacha is what you are referring to? Nonsense incoherent hypocrite. 1 Like |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Nice2023(m): 5:32pm On Feb 18 |
blacknp: Keep quiet. It takes common sense for people to understand and internalised why things are bad today but hate and tribalism have blinded u such that tribal discrimination is the in thing for u. Shameless man. |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Iamblessed85: 5:35pm On Feb 18 |
GeneralDae: That means they are the problem then and not the common man. Someone once said anytime faac is shared, dollar rates go up 1 Like |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by hassana45502: 7:51pm On Feb 18 |
unfortunately Nigerians seem to be looking the other way expecting miracles.unfortunately Nigerians seem to be looking the other way expecting miracles.... |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by alcuin(m): 7:56pm On Feb 18 |
The question is, where are the funds to continue subsidising or defending the naira? 2 Likes |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Gajagojo: 8:34pm On Feb 18 |
seborrhic: Emefiele was already operating a Managed float system So what sense did he make What would he do differently? He is just taking to be contrary Hear him 3. On the other hand, given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged the Central Bank of Nigeria to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option. Hear Emefiele https://www.bloomberg.com/news/articles/2021-03-23/nigeria-using-managed-foreign-exhange-regime-central-bank-says The simple truth is in Nigeria anything other a free float that is transparent will lead to round tripping corruption. Like we saw under the So called managed float with Emefiele when Buhari s relatives were buying at official rate and making fantastic spreads 2 Likes |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Osidazz19: 10:21pm On Feb 18 |
Naira floating is what the best economists in the world advocated and it is what is practiced in the best and most advanced economies in the world. It is good to allow your currency to find its natural level. In the long run, it will be better for Nigeria. I know it's hard and it's affecting lots of people in the most negative way but these are growing pains that will pay off in the long run. I sure hope that Tinubu does not listen to all these criticisms and then get scared and turn back the hands of reform. He should stay the course and it will be good in the long run. 1 Like 1 Share |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Ibime(m): 10:21pm On Feb 18 |
Atiku is a joker and saying nothing but agreeing with Tinubus policy. We are currently running a managed float, there is just not enough FX to 'manage" the float |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by searchlight: 10:29pm On Feb 18 |
Sangoamadioha1:Focus on the disaster of your brother. Has your father eaten? |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by searchlight: 10:34pm On Feb 18 |
dawno2008:The ZOO can never be great. |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by agabusta: 10:37pm On Feb 18 |
Godfullsam: And that was why Buhari was voted for. Unfortunately, he could not achieve a lot in this regard. |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by koxyz: 10:52pm On Feb 18 |
A |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by Menclothing: 10:54pm On Feb 18 |
We need to be proactive as a nation |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by omohayek: 10:59pm On Feb 18 |
onatisi:There was never any doubt in my mind that Atiku's plans were objectively the best of the three - he understands clearly that the Nigerian economy needs to be massively deregulated - but the question (at least as far as I was concerned) was the extent to which Atiku could be trusted to carry out his program in a fair and transparent manner, given his long record of using power to tilt deals in his own favor. That so many people harbored similar doubts as I did is no one's fault but Atiku's own, and Obasanjo's criticism of him wouldn't have stuck if there were no substance to the accusations. In any case, Atiku's latest effort was doomed once Peter Obi announced his vanity candidacy using the LP as his latest vehicle of self-advancement, thereby taking 90% of the Igbo vote with him. Obi might as well have handed Tinubu the election on a platter, by dividing the anti-APC opposition. Circling back to Atiku's latest statements, while I give him credit for actually making concrete proposals that can be scrutinised (unlike Obi, who sticks to worthless platitudes), the idea that Tinubu ever had the option of a managed float is pure fantasy, given how low the foreign reserves were (and still are), and how much of the FG's income was already going to debt service. Where exactly would the money to "manage" the float have come from? The harsh reality is that any winner of the 2023 election would have been forced to make the same decisions at a similarly rapid rate, as the money simply wasn't there to keep going in the same old way. The only alternative to doing so would have been to print money at an even faster rate than Tinubu is currently doing, which would have led to inflation so high that a "mere" 30% annual rate would have seemed something to envy. The frustrating there here is that Atiku understands this quite well, but is happy to peddle lies to curry popularity with the masses. It's such dishonesty that makes it so hard for me to trust any promises Atiku makes. 10 Likes 4 Shares |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by stanliwise(m): 11:01pm On Feb 18 |
ElSudani:very shameless comment you’re making. This life sha |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by DeepSight(m): 11:01pm On Feb 18 |
APOPTOSIS: Only those who earn in dollars. A devalued local currency will always be a disaster for the generality of people in any import dependent economy. |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by DeepSight(m): 11:02pm On Feb 18 |
Godfullsam: Gbam! |
Re: Naira Floating by Tinubu was Ill-advised-Atiku by stanliwise(m): 11:04pm On Feb 18 |
omohayek:very eloquent and polished write up here. Any idea on what can help this our devaluation? 1 Like |
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