koondog:
This government is so disorganized and inexperienced. This is why you don't effing float the naira. You passed a budget based on a dollar to 800 Naira. With Naira now floated, it has now lost its value to 1700 Naira to a dollar, that over 100% devaluation, meaning cost of goods have more than doubled or even trippled.

In practical terms, they will need to pass a supplemental budget almost the same amount as the previous, why? Naira has lost its value from 800 naira to 1700 naira to a dollar and other currencies. This is major blow to the government, now they will need to borrow another $billion to supplement. Keep in mind they borrowed most of the original budget.

He needs to fire that CBN governor, constitute a committee of the best of Nigerian economists and top bankers with people like Okonjo Iweala, Charles Soludo, Akinwumi, Olusegun Aganga, Sanusi, Elemulu, e.t.c. Aviod tribalism again, they will advise you truthfully on what to do and recommendation on 3 names to appoint as CBN governor.

I feel sorry for Tinubuu, the kind of stress he is under right now at his age, can induce alzheimer.

MajorOvakporaye:
I noticed that many online miscreants supporting APC and the drug criminal, Tilumbu have gone into hiding. These days, they usually enter nairaland to read comments. Suffer go soon finish una. Fools.

dettolgel:
If all the politicians in Nigeria decide that for the remaining months of 2024 they will only receive 35k as monthly salaries no additional benefits. They will not claim the vehicles that supposed to be giving to them this year. No travelling for the rest of the year. I can assure you that our budget will improve considerably.

ambale:
I wonder how and why investors will even come into an economy in disarray

Protest could break out anytime and your investments attacked.

I thought you guys called him a master strategist and ordinary to stop the free fall of the Naira and keep it at 1500 at least he couldn't do that.

This man na full disgrace🤔

maasoap:

But you and your fellow bitter losers are the ones crying and wailing most, everyday!

SSpeter:
then the economy will shrink, there will be massive unemployment, we will go into recession and a demand push inflation will arise

dettolgel:


How will the economy shrink if the politicians take a pay cut and the savings used to fund sme's?

How will the economic shrink if we refused to import vehicle for politicians for one year? That will save us fx. If they were using locally produced cars then that would create a problem for the industry. How will the economic shrink if they refused to spent our fx on travelling for one year?

Maybe there is something I missed, unless there is a significant impact of this on the local economy that I missed?

SSpeter:
You stated that if we agree to a pay cut of 35k, you did not state cost savings as a means of further production process in your previous statement. Rather you were advocating for freeze in income to stem hyperinflation.

MajorOvakporaye:
I noticed that many online miscreants supporting APC and the drug criminal, Tilumbu have gone into hiding. These days, they usually enter nairaland to read comments. Suffer go soon finish una. Fools.