Your president is clueless so don't expect miracle

We are about to begin local production and consumption, the dollar is supposed to become weaker but trust rent takers and wickedness

They’re increasing prices


That means automatic inflation which will in turn devalue the naira

Helinues hope you're enjoying your day wherever you are? Your pay master is doing thy Lords work. I pray he increases your salary.

Emilokan . Tinubu is going to teach igbos politics …same people that have a history of supporting failures..buhari, tinubu ..they have now left emilokan tinubu to put their last hope in dangote . I hope dangote doesn’t crash like the others they supported lol

Lol...they actually dont know what they're doing again.

Tinubu laughable attempt at naira floatation killed the naira

The weaker the naira the higher the price of petrol

Toh

TAG THE NAIRA AT N200 : $1 NOW.

It’s a Shame

It didn't slump shii they devalued the naira and increased fuel price more shege to the citizens

They are still teaching Peter Obi a lesson 😀

Ordinarily the naira should have gain much value yesterday immediately after Dangote made his announcement about the refinery production of pms.
There is something going wrong somewhere.
Nigeria just get as e be sha

Trust me if fuel price gets to 1700naira per litre, the naira would still slump against the dollar.
Avoiding subsidy is the only way out of our declining economic crisis.
but then someone or something doesn't want our economy to have a positive slope.

Nigeria 🇳🇬 and economics, never in the same sentence. Never 🤣

ozo13:
Ordinarily the naira should have gain much value yesterday immediately after Dangote made his announcement about the refinery production of pms.
This is something going wrong somewhere.
Nigeria just get as e be sha

We negate anything economics. There are so many ways of bringing the green back down but you see, for the avarice of wealth, most Nigerians will never accept.

You want someone that wants to steal ₦1,000,000,000 to suffer and move that amount in bulky naira notes when he can do that in 6,250 packs of the green back? 🤣

Tinubu’s tinubulation and tribulation economics

Manufactured goods and services.

MANUFACTURED GOODS AND SERVICES.

To increase the value of their currency, countries could try several policies.

Sell foreign exchange assets, purchase own currency
Raise interest rates (attract hot money flows
Reduce inflation (make exports more competitive
Supply-side policies to increase long-term competitiveness.

SAUCE

THE GREAT NAIRA DREAM: THE BOLD STRATEGY TO ELEVATE NIGERIA'S CURRENCY


Aderogba Otunla, Ph.D.
Managing Director | Google Workspace Expert for Emerging Markets
Published Oct 24, 2023




Imagine a world where the Nigerian Naira stands toe to toe with the US Dollar. It might sound like the stuff of dreams, but it could be closer than you think. Buckle up, as we dive into an ambitious plan set to transform Nigeria's economic landscape in just 48 months.

The Grand Vision: 100.00 NGN = $1.00 USD


THE CURRENT LANDSCAPE: A SNAPSHOT

Right now, Nigeria's economic indicators might make you scratch your head in disbelief. The inflation rate stands at a staggering 25.8%, and unemployment lingers at 33.3%. Foreign reserves? A modest $35 billion. However, beyond the numbers lies a nation poised for transformation.


THE 48-MONTH BLUEPRINT

GDP Growth is a lighthouse showing us the way. Increasing this is the cornerstone of our strategy. While the present 2.5% growth may seem humble, the plan aims to catapult it to an impressive 4.5% by the end of our timeframe. But why stop at GDP?


1. INFLATION: Currently, our shopping baskets cost 25.8% more each year, but imagine shaving that down to a mere 3% in just four years. It's audacious, but with the right monetary controls, not impossible.

2. EMPLOYMENT: Every Nigerian dreams of stable work. The plan sees unemployment plummeting from 33.3% to a more palatable 18.9%.

3. FOREIGN RESERVES: From $35 billion to an envisioned $55 billion, boosting confidence in the Nigerian economy from foreign investors.

4. INTEREST AND TRADE: Lowering interest rates could kick start businesses and increase investments. Couple this with an increase in the trade surplus, and the Naira's value could soar.

5. FISCAL STIMULUS: While we're at it, why not bolster government spending from $50 billion to $70 billion? This could supercharge sectors like education, health, and infrastructure.


THE ROAD AHEAD

This journey is not without its challenges. For every soaring aspiration, there's a pragmatic hurdle to clear. However, the Nigerian spirit is resilient.

1. POLICIES: Crafting sound macroeconomic policies will be key. Tax reforms, low-interest rates, and spending controls could pave the path.

2. INVESTMENT: Infrastructure and education aren't just words; they're the bedrock of any thriving nation. A solid plan here could be the game-changer.

3. BUSINESS ECOSYSTEM: Let's create an oasis for businesses. From slashing red tape to refining the regulatory jungle, a more accessible environment can fuel economic dynamism.

4. EXPORT-IMPORT DYNAMICS: Encouraging exports and limiting non-essential imports might sound traditional, but they've been tried, tested, and proven.

5. RESERVE BUILDING: It's simple - more exports, sensible foreign investments, and strategic borrowings.



CHALLENGES AND RISKS ASSOCIATED WITH THE PLAN:

A. ECONOMIC INSTABILITY: The Nigerian economy is currently facing a number of challenges, including high inflation, unemployment, and foreign exchange shortages. These challenges could make it difficult to achieve the ambitious goal of making 100.00 NGN equal to $1.00 USD in 48 months.

B. POLITICAL UNCERTAINTY: Nigeria is a politically complex country with a history of instability. This political uncertainty could discourage foreign investment and make it difficult to implement economic reforms.

C. CORRUPTION: Corruption is a major problem in Nigeria. It can lead to inefficient use of resources and undermine economic growth.

D. INFRASTRUCTURE DEFICIT: Nigeria has a significant infrastructure deficit, which can make it difficult to attract foreign investment and boost economic growth.


HOW THE GOVERNMENT COULD INVOLVE THE PRIVATE SECTOR AND THE GENERAL PUBLIC IN ACHIEVING THE GOAL OF MAKING THE NAIRA A STRONGER CURRENCY:

1. The government could create an enabling environment for businesses to thrive. This may include reducing bureaucracy, improving the regulatory framework, and providing access to finance.

2. The government could provide incentives to businesses that export goods and services. This could help to increase the supply of foreign currency and boost the value of the naira.

3. The government could educate the general public about the importance of saving in the local currency. This could help to reduce the demand for foreign currency and support the value of the naira.

4. The government could encourage the general public to buy Nigerian-made products. This could help to reduce the demand for imports and boost the value of the naira.


In addition to the above, the government could also involve the private sector and the general public in the following ways:

1. Create a public-private sector partnership to promote economic growth and development.

2. Establish a national economic council to advise the government on economic policy.

3. Organize regular consultations with stakeholders from the private sector and the general public to get their input on economic policy.

4. Use social media to communicate with the public about economic issues and to gather feedback.

5. By involving the private sector and the general public in the effort to make the naira a stronger currency, the government can increase the chances of success.

In conclusion, achieving parity between the Naira and the Dollar within 48 months might sound like an economic fairy tale. But behind this dream lies a roadmap crafted with precision, ambition, and a touch of audacity. Nigeria stands on the brink of an exciting economic era, and with collaborative efforts, the Naira's rise is not just possible; it's inevitable.

Thank you.

Aderogba Otunla

Sauce: LINKEDIN

jumper524:
Trust me if fuel price gets to 1700naira per litre, the naira would still slump against the dollar.

Now someone is seeing the clear picture. How can you be spending $ to pay for rent in a country that the currency is ₦?

We will soon be using $ for everything..

Someone somewhere is getting richer and happier as Nigerians get weaker and poorer...it seems like a plan, maybe depopulation pact was signed by someone and death through hardship is the way they want to achieve it

VaginaAcademic:
It didn't slump shii they devalued the naira and increased fuel price more shege to the citizens

But he said he will reduce purchasing power of people while campaigning

When will the naira become less dependent on dollar?

On your mandate we shall....

helinues:
Toh

Is that all you can muster? "Toh"

Na d 1$=1naira APC promised us be this?

Coolsperm:
We Yoruba Muslims are very happy and comfortable with Tinubus gvt everything is very ok in the country, na hunger go finish Aboki

We over here in the middlebelt are comfortable with the current situation in the country. We must suffer today to enjoy wealth and economic prosperity tomorrow. I just bought petrol at 1,200 per litre here in Felele and I am happy with it.

Trust the process. Tinibu is the man for the job. He is more intelligent than JFK and Obama.
My pity goes to the South. They must suffer for not voting Tinibu. HUNGER AND TRIBULATION shall befall the Obadients.

Yankee101:
We are about to begin local production and consumption, the dollar is supposed to become weaker but trust rent takers and wickedness

They’re increasing prices


That’s means automatic inflation which will in turn devalue the naira

Rent takers and wickedness led by Tinubu, right

Nigeria’s lawmakers on Thursday approved the new government’s first supplemental budget, which includes huge allocations for SUVs and houses for the president, his wife and other public officials, sparking anger and criticism from citizens in one of the world’s poorest countries.

In the budget presented to lawmakers to supplement the country’s expenditures for 2023, the government had allocated about $38 million for the presidential air fleet, vehicles and for renovation of residential quarters for the office of the president, the vice-president and the president’s wife — even though her office is not recognized by the country’s constitution.


https://apnews.com/article/nigeria-tinubu-budget-yacht-suvs-8bfd1d6c7e6838d17d9c5dd33ec92a4f

I don't know which one comes first in the Bible; Numbers abi Lamentations but I sure know this govt is giving Nigerians the two simultaneously.
I'll protest this evening with a plate of catfish pepper soup. Baboons have taken over and is all bananas in the country.

Ok