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Nairaland Forum / Nairaland / General / Politics / Buhari was defending naira, Tinubu floats naira which is the best policy? (4228 Views)
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Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by Fujiyama: 8:25pm On Feb 02 |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by mrvitalis(m): 9:36pm On Feb 02 |
Fujiyama:The goods we use today in Nigeria, what infrastructure do they use Nigerian producers can use same infrastructure |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by Fujiyama: 9:43pm On Feb 02 |
mrvitalis: ^^^ The infrastructure is non-existent or where it does exist, it is broken. This pushes up costs, retards growth and depresses productivity. The point I'm trying to make is that sensible foreign borrowing to build infrastructure is a valid option to grow an economy and spur development. Your point is that it doesn't make sense to borrow to build infrastructure - and I'm saying the evidence doesn't support this. |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by mrvitalis(m): 9:47pm On Feb 02 |
Fujiyama:What infrastructure are we using to import and distribute goods if the infrastructure is broken |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by Fujiyama: 9:48pm On Feb 02 |
mrvitalis: ^^^ Its in very poor shape. You know this. That's what I meant by broken. |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by mrvitalis(m): 9:49pm On Feb 02 |
Fujiyama:We can manage that still till we have industries we can tax to build them |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by Fujiyama: 10:04pm On Feb 02 |
mrvitalis: ^^^ Ok. We can agree to disagree. |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by being(m): 3:42am On Feb 03 |
idealogical:But he is quite correct! What he is saying is what infrastructure can help us to engage in production that is either import substitution or export production. Cos u borrowed $ for the railway... so what is the $ ROI. NOTE, It is NOT rail fares earned in naira converted to $ but $ opportunity cost. For instance, we can say the $19bn given(or sold)to dang refinery will yield billions of $ in savings every yr cos of import substitution (specifically refining). U could also say, d $ given (or sold) to BUA cement leads to $ revenue through export. If the govt invests bn$ in power for instance (with results), it leads to a lot more manufacturing of which some will be import sub and some export productn-- the $ values of these will be the $ ROI for the country, not even the taxes. |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by Hedonisco: 5:53am On Feb 03 |
skj1377:Comments like this are provocative. Same thing as when they say "subsidy only benefits the rich". I don't understand what the hex you're saying. The money spent to defend the Naira "went into private pockets", but yet Naira was N700 then, and now that the money has been removed from private pockets, Naira is about N1500. So is it better or not for Nigerians if "private pockets" keep pocketing that money, as long as the exchange rate remains relatively lower and stable? Make it make sense. |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by malcom1X: 6:44am On Feb 03 |
ayokellany: Following his advice is the best. Lastly you can't avoid floating the naira, maybe next time Nigeria shouldn't borrow money from the IMF so that they won't be given conditions like this. Floating the naira gives investors opportunities to invest because no one controls it but who will invest in a country where there is no security. Your business can flame up any day. |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by malcom1X: 6:48am On Feb 03 |
sholay4star: If you had money will you invest in Nigeria? Or in a country with a lot of security look at Ivory coast. Very peaceful, I can predict there won't be a war there for a long time. |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by mrvitalis(m): 7:48am On Feb 03 |
Fujiyama:If I'm in government I would never borrow money to build infrastructure except it's very very very needed Honestly I believe taxing Nigerians is the only way to unite Nigerians |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by Fujiyama: 3:40pm On Feb 03 |
mrvitalis: ^^^ There is an infrastructure deficit at the moment. Everyone agrees on this. Without fixing the power and transport infrastructure deficit, we have not started at all. It is very, very needed. mrvitalis: ^^^ You are right. But you can only successfully tax a person with an income...and you can only sustainably tax the formal sector. In this country right now, incomes are low and the majority of people operate in the informal sector - a notoriously difficult sector to tax successfully. If you were in government you would face resistance if you tried to do that right now. People are poor and angry and they don't trust government one bit. |
Re: Buhari was defending naira, Tinubu floats naira which is the best policy? by orisa37: 6:00pm On Feb 03 |
The first was a lie. The second is an error. |
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