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Nairaland Forum / Nairaland / General / Politics / Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) (1767 Views)
Fuel Subsidy Is Back – Obasanjo Faults President Tinubu’s Claim On Removal / Deregulation: Brace For N750/litre Petrol When Subsidy Is Removed, Stakeholders / Peter Obi: Fuel Subsidy Is Organized Crime (2) (3) (4)
Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Saskay44: 1:56pm On May 29, 2023 |
1 Like 1 Share |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by mrvitalis(m): 1:59pm On May 29, 2023 |
Very good news for capitalist like myself This is a very good start very very good start Allow marketer import freely |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by nairavsdollars(f): 2:00pm On May 29, 2023 |
Action man 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Blackdeewhy(m): 2:02pm On May 29, 2023 |
Interesting 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by suckmedownthere(f): 2:07pm On May 29, 2023 |
He is definitely embracing an open economy of Nigeria to the world on a make or buy decision, that's a pure capitalist system, he is a smart president.... 3 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by yarimo(m): 2:08pm On May 29, 2023 |
This is very commendable from president TINUBU 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by securitywatch50: 2:21pm On May 29, 2023 |
E choke Emi lokan E sweet me ooo ![]() 7 Likes 1 Share |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Larry1960: 2:26pm On May 29, 2023 |
How him wan take do the unified exchange rate ? |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by SalamRushdie: 2:33pm On May 29, 2023 |
He is starting off on a bad note , even if he wants to remove fuel subsidy he shouldn't have mentioned it like this , this will only cause speculation and fuel hoarding immediately throwing Nigerians into another round of suffering in his first day in office ... This is what he should have done : Wait till he resumes tomorrow and then call in all the key stakeholders in oil importation and find out the true situation of things like how much is the actual daily consumption, how much fuel reserve do we currently have stored , how much is on the sea coming and plans to ease the population into the new price .. In two weeks allow Independent oil marketers start selling at any price they want while the oil majors start selling at a controlled price of 200 , then when gradually increase oil majors prices every month till it's fully deregulated.. But with what Tinubu has just done he has opened the door for chaos as wicked Nigerians will start rushing to fill up their tanks and filling stations will start hoarding in other to cash out on new prices 4 Likes 3 Shares |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by SalamRushdie: 2:35pm On May 29, 2023 |
Larry1960: The unified exchange rate is a myth in Nigeria as long as demand for dollars keep outweighing the supply of dollars , even if Tinubu floats the dollar to 1000 naira the next day it will all be bouught and sold in the black market for 1200 naira |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Mattswaggz: 2:35pm On May 29, 2023 |
This man go fit shock those way day downgrade am ooo . ![]() 4 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by SalamRushdie: 2:36pm On May 29, 2023 |
yarimo: There is nothing commendable here , he is starting off on a bad note , this will only lead to hardship this week...this is how y'all supported Buhari in nonsense till he acheived nothing in 8 years |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Larry1960: 2:36pm On May 29, 2023 |
SalamRushdie: Yeah because I dey think how him wan clamp down on the black marketers The only thing I think na if in two months time dangote refinery starts production as dangote promised, then the exchange rate fit come down |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Iamgrey5(m): 2:36pm On May 29, 2023 |
SalamRushdie:I agree with you that what he said might create speculation and hording but I believe he must have done assessment with industry players. 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by malali: 2:37pm On May 29, 2023 |
SalamRushdie: Not true he should throw it out to the open market. All Bureau de Change should be licensed. As soon as we are all buying $ at 760naira, it might rise to 1000naira Only way we can boost the naira and lower it compared to the dollar is by increasing exports. Sell crude oil In naira. It doesnt make sense to remove subsidy on petrol and then subsidize the US Dollars at CBN....Thats an ignorant move. Once you start removing subsidy every other subsidy as to go...including dollar subsidy at CBN. |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Firstorderwizard(m): 2:38pm On May 29, 2023 |
The way they make blunders shocks me. Don't be surprised there's no reserve to service the shortfall. Expect fuel hoarding starting from tomorrow. Anyway, I already planned for this . Let me see whether it would be sold cheaper in Ibadan or Ekiti SalamRushdie: 1 Like |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Iamgrey5(m): 2:39pm On May 29, 2023 |
SalamRushdie:This is not true. At the current status of mutilated exchange rate, Nigeria is borrowing heavily to defend the Naira to the benefit of a few who can buy it at the controlled Central Bank exchange rate. 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Iamgrey5(m): 2:40pm On May 29, 2023 |
Firstorderwizard:How how earth do you think he hasn't had meetings with stakeholders. Don't forget he is an industrial stakeholder himself. He clearly said Buhari made no provision for subsidy in the current budget. 3 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by SalamRushdie: 2:43pm On May 29, 2023 |
Firstorderwizard: Trust me we don't have upto 7 days of reserve and Dangote refinery is no where near ready to start production so for the next 6 months we must still import fuel |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Offpointng: 2:47pm On May 29, 2023 |
Firstorderwizard: Not only will it be cheaper in Oyo or Ekiti to other SE states but it's scarcity will not be terrible in the SW than its going to be in the SE 3 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by Yampotatocarrot(m): 2:47pm On May 29, 2023 |
Someone should tell him to work his magic so that banks can bring back international transaction limits, even if just $500 per month, mbok. As for fuel subsidy, I want to believe he must have made the necessary consultations before making that proclamation... No right thinking person makes that declaration out of thin air Yes, he's old... Yes, he slurs while speaking... Yes, he shakes while walking, BUT I believe he's got the right brains working for him and that's what matter Let him keep up with this proactiveness, I'm sure Nigerians and the Nigerian economy will be better for it Side note: I don't really trust Shettima and he should find a way that curb the excesses of Oluomo and his boys... Maybe send him on sabbatical 1 Like |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by ferhyntorlah(f): 3:11pm On May 29, 2023 |
malali: At the bolded, this was the same suggestion someone said to me a while back when I asked what could be done to improve the Naira. Let our buyers source for Naira to buy our oil. |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by GeneralPula: 3:17pm On May 29, 2023 |
SalamRushdie:With that, you can’t blame him. Instead, you’ll blame the greedy attitude of some Nigerians.. What’s wrong in a president telling his people the plans? Carrying people along isn’t a bad thing! Like now, we’re all dropping our opinions regarding the subsidy. Why? Because he’s revealing the plan to us! This is the way it should be exactly! 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by GeneralPula: 3:18pm On May 29, 2023 |
SalamRushdie:Is their a solution to this? |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by SalamRushdie: 3:18pm On May 29, 2023 |
GeneralPula: Since you know the kind of people you are dealing with you should work around them ...I just went out now and like joke filling stations have shut their gates |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by GeneralPula: 3:22pm On May 29, 2023 |
SalamRushdie:Wait, the subsidy hasn’t been removed yet right? So why are filling stations acting that way? |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by SalamRushdie: 3:26pm On May 29, 2023 |
GeneralPula: Its something I have always thought deeply about , the only way around this is to reduce the demand for the dollar by Nigerians and the ways to reduce demand is to look at what Nigeria used dollars for and fix those place ..We use dollars to 1 Hedge naira devaluation; many people like to store their wealth in Dollars so they can protect the value of their savings 2 : Education : Because of our bad education system we like to travel abroad to get better education and this puts demand on our froex supplies 3 : Importation : Nigeria is heavily reliants on importation and this puts the heaviest demand on our forex 4 : Japa : in a quest to escape the bad economy many Nigerians opt to migrate and migration requires Forex a lot . So I would say the only way govt can slow down the demand for dollars is to fix all these place I have mentioned when we do that people will need less dollars and the price will stabilize but as long as the demand for dollars outweighs the supply people must speculate it in some sort of black mrket 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by SalamRushdie: 3:28pm On May 29, 2023 |
GeneralPula: Because they are greedy , they want to sell at the new price and make triple profit 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by GeneralPula: 3:33pm On May 29, 2023 |
SalamRushdie:Nice analysis.. 2 Likes |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by tommy589(m): 3:39pm On May 29, 2023 |
How do you harmonise dollar rates without tough measures like banning importation of certain goods. Not sure a single textile factory is still producing in the country 1 Like |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by ukaface(f): 3:55pm On May 29, 2023 |
Baba Abeg remove am No waste time |
Re: Tinubu: Fuel Subsidy Is Gone. We Will Have A Unified Exchange Rate.(video]) by NSNO(m): 3:59pm On May 29, 2023 |
Larry1960:Me self I want to know |
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