Kukutenla:

Explain it. Educate me like the layman that I am

Imagine if NNPC supplies fuel to the marketers thru their petrol stations so that we the people in turn can get from the petrol stations ... but instead , these marketers will divert a majority of this supplies to the black market , thereby making it scarce for us the people to get at the petrol stations... we will then have to source fuel from the black market at high prices... the marketers will smile to the banks cos their profit will quadruple...

nairalanda1:


After they did several redenoninations.

Ooo

Its not out of place to learn from a struggling country how they have been handling inflation which at one time was almost 500%, now half. We might learn a thing or two especially how to plug FX leakages and deal with sabotage.

We are tethering on the edge of hyper inflation. A single miscalculation will make matters worse. Government is continuous, we should start behaving so, Tinubu boys are blaming Buhari, His boys blamed PDP, how long are we to continue like this?

Saturnalia:
We must begin to bring up our youths in the culture of peace and security.

The way OBJ keeps parroting “The Youths This, The Youths That” is beyond annoying.

How many youths did Obasanjo EMPOWER or give APPOINTMENTS to during his own administration?

He has suddenly remembered “The Youths” now that he is no longer in Aso Rock; commenting on, and addressing National Issues that he failed woefully to address during his own administration.

A veritable example of: Experts at removing the speck from other people eyes, while leaving the log in their own eyes intact.

That was how he lied that he never pursed “Third Term Ambition”.

That was also how he lied that Olu Agunloye (his former Power & Steel Minister) awarded a contract of US6 Billion Dollars without his consent & approval.

The US16 Billion Dollars Power Project he wasted & siphoned during his administration is the reason Nigeria is still in darkness.

https://punchng.com/16bn-electricity-project-buhari-tackles-obasanjo-asks-wheres-the-power/?amp

If anybody is keen on knowing how useless & despicable Obasanjo truly is, read Iyabo Obasanjo’s Open Letter To Him in 2013 - and you will never respect this agbaya again.

https://www.nairaland.com/7507392/revisiting-iyabo-obasanjos-open-letter

Baba, go and sit down in one corner and keep shut with your stinking hypocrisy.

nairalanda1:
Zim that has stopped using their currency, and uses dollars and rand instead?

OK.

Of course that might be the case of Nigeria soon. we will stop using the useless naira and start using dollars and pounds. Africans are extremely dumb people, i guess they destroys anything they touch. If you give them the power to print dollar then trust me. dollar will become like pure water pretty soon, and the value will nosedive seriously.

Beverlyjean:
The only reason Naira is depreciating is due to those hoarding the dollar... what those that have excess naira are doing now is to buy up as much dollar as they can to make profit... dollars should be for only those that need I for traveling or to pay for goods and services in USA alone ...

Outrightly ban the dollar, make it illegal, anyone caught with dollars should be arrested... give all those that are holding onto it one month to submit it to the nearest bank at 1k per dollar or have the risk of loosing it entirely once the deadline is crossed ...

All domiciliary accounts should be shut down , and all foreign currency should be converted to naira ... all BDC should be shut down ... if u need dollars , go to the banks ...

Again, FG should arrrest 5 bank MDs along with the execs to use them to set example for those bankers that round-trip ....

For those saying it's because we don't produce, know that Nigeria has always been an importing nation... let's also know that usa import their oil, USA also import some of their goods due to cheat labour in China and Indonesia .... we should ask ourselves why Benin Republic currency is doing better.. they don't need the dollars to hoard... they also import massively and they don't even have any tangible export to earn dollars , but their currency is doing way better than ours ...

I'm not saying that local production would not have an effect, it will , but not as much ... Nigerians are the reason why the naira keeps on depreciating... cos we wanna use it to make money... we are the only ones that do this nonsense in this whole world ... u can't go to Spain or Portugal or Kenya or malaysia or Bolivia or Lebanon and u will see their citizens buying up dollars to hoard so that it creates scarcity to make gain thereby destroying the country... our president is also guilty of this cos he shared dollars to delegates tk get elected ... why wudnt the naira keep on crashing

MAKE THE DOLLAR ILLEGAL AND WATCH HOW NAIRA WILL APPRECIATE

Only those that genuinely need it should get it thru the banks and u will not even get it in cash ... it will be wired electronically to the company or person that needs it only in the United States... if u wanna buy good from China, u don't need dollars , u need yuan , if u wanna import from Europe, u don't need dollars, u need euros or pounds... and only the banks will run that for u... when coming into the country, u must declare and submit ur foreign currency to the cbn stand in the international airport and then u will get the equivalent in naira, and when travelling, ur bank will give u a special card that can act as PTA or BTA with limited amount to spend ..



Do this and watch the dollar to naira crash to 150- 200 naira in a couple of months

It is a terrible thing to be ignorant, poor and hateful at the same time.

RESTRUCTURING IS THE ONLY SOLUTION.

LET ALL REGIONS MANAGE THEIR WEALTH

Abegi our case never reach that level

predictor1:
I don't even know what you are talking about. There's something called political will. Jonathan lacked the political will to remove the subsidy. There were protests then, if he couldn't stand his ground that was his problem. Was it also Tinubu that asked him to reduce fuel price from #97 to #87 before the 2015 election? Did that look like someone ready to go all the way about subsidy removal? Was it also Tinubu that prevented Jonathan from going after Boko Haram until shortly before elections in 2015? What stops the opposition from going against Tinubu now? Why did many believe in subsidy removal now and not during Jonathan's time?

I didn't join any stupid protest then and I NEVER voted Buhari because it was clear all along that subsidy either had to go or be drastically reduced. So what do you call a president who was stopped from removing subsidy in 2012 only for him to add to the subsidy in 2015 by bringing down fuel price by an additional #10? Some of you argue so blindly.

In addition, it's foolish to not see the impact of prior bad leaders in today's problems. #16bn is a lot of money for a poor country like Nigeria to waste. If it had been judiciously spent I'm sure succeeding governments will not need to be grasping with the problem of power supply. They'd do something else. In all to me they're all the same. If you choose to think one is better than the other because of tribalism, that's your problem, not mine.

Since you're talking of lack of political will, why is Tinubu now back to paying subsidy even in the absence of any mega-protest?
Since you say you don't know what I'm talking about, browse on YouTube and watch videos of the protest. No leader anywhere in the world will see that kind of protest and not backtrack. It's a sense of responsibility not about gra gra. When the people you rule over say they don't want something, you have to either shelve or modify it. That's why it's called democracy. Governments hardly survive protests. Not even military ones.
So to reduce the inability of Jonathan to remove subsidy to lack of political will shows you don't understand what governance is about. What's the option, he should arrest the millions of protesters and lock them up?
As for the $16bn pwr story, it is one of the most disgusting narrative in Nigeria. Most of you never even bothered to find out what it's all about. Like I said, just like Buhari, most Nigerian leaders know how gullible Nigerians are.
What if I tell you there's a House of Reps report on the matter that found out that its untrue that OBJ spent $16bn on power?
Are you aware that he spent only $2bn and out of that, $800m worth of power turbines were left to rot at Apapa port by Yaradua and Jonathan govts? It took Fashola in 2015 to clear those turbines. The remaining $1.2bn was used to build power plants in different areas of the country. That's the fact of the matter. Any other thing you hear is a cheap lie and propaganda.

Beverlyjean:


Imagine if NNPC supplies fuel to the marketers thru their petrol stations so that we the people in turn can get from the petrol stations ... but instead , these marketers will divert a majority of this supplies to the black market , thereby making it scarce for us the people to get at the petrol stations... we will then have to source fuel from the black market at high prices... the marketers will smile to the banks cos their profit will quadruple...

I don't understand the relationship between fuel marketers and banks. You said to know how bank MDs are destroying the economy.
Just tell me how they are. Very simple. No long story

Daystar7:


Lol... Idolizing Obasanjo for what? I'm concerned with APC government of perpetual failure and you're taking me back to stone age. Stop blaming Obasanjo, that's what I said. He wasn't excellent but he wasn't a complete failure like Buhari and Tinubu. Now u can keep drooling. I said what I said

And you're very correct!

Kukutenla:

I don't understand the relationship between fuel marketers and banks. You said to know how bank MDs are destroying the economy.
Just tell me how they are. Very simple. No long story

If u can't understand my analogue with fuel as a layman's explanation...then I can't waste my time on u... certain its hard for u to pick up basic knowledge

Beverlyjean:


If u can't understand my analogue with fuel as a layman's explanation...then I can't waste my time on u... certain its hard for u to pick up basic knowledge

Maybe it's hard for you to give what you don't have
Fuel marketer ko, fuel distributor ni

Beverlyjean:
The only reason Naira is depreciating is due to those hoarding the dollar... what those that have excess naira are doing now is to buy up as much dollar as they can to make profit... dollars should be for only those that need I for traveling or to pay for goods and services in USA alone ...

Outrightly ban the dollar, make it illegal, anyone caught with dollars should be arrested... give all those that are holding onto it one month to submit it to the nearest bank at 1k per dollar or have the risk of loosing it entirely once the deadline is crossed ...

All domiciliary accounts should be shut down , and all foreign currency should be converted to naira ... all BDC should be shut down ... if u need dollars , go to the banks ...

Again, FG should arrrest 5 bank MDs along with the execs to use them to set example for those bankers that round-trip ....

For those saying it's because we don't produce, know that Nigeria has always been an importing nation... let's also know that usa import their oil, USA also import some of their goods due to cheat labour in China and Indonesia .... we should ask ourselves why Benin Republic currency is doing better.. they don't need the dollars to hoard... they also import massively and they don't even have any tangible export to earn dollars , but their currency is doing way better than ours ...

I'm not saying that local production would not have an effect, it will , but not as much ... Nigerians are the reason why the naira keeps on depreciating... cos we wanna use it to make money... we are the only ones that do this nonsense in this whole world ... u can't go to Spain or Portugal or Kenya or malaysia or Bolivia or Lebanon and u will see their citizens buying up dollars to hoard so that it creates scarcity to make gain thereby destroying the country... our president is also guilty of this cos he shared dollars to delegates tk get elected ... why wudnt the naira keep on crashing

MAKE THE DOLLAR ILLEGAL AND WATCH HOW NAIRA WILL APPRECIATE

Only those that genuinely need it should get it thru the banks and u will not even get it in cash ... it will be wired electronically to the company or person that needs it only in the United States... if u wanna buy good from China, u don't need dollars , u need yuan , if u wanna import from Europe, u don't need dollars, u need euros or pounds... and only the banks will run that for u... when coming into the country, u must declare and submit ur foreign currency to the cbn stand in the international airport and then u will get the equivalent in naira, and when travelling, ur bank will give u a special card that can act as PTA or BTA with limited amount to spend ..

Do this and watch the dollar to naira crash to 150- 200 naira in a couple of months

This has been my submission since this nonsense started

fuckJones:
And the assumptions that it was APC/Buhari/BAT who created discord, enmity or division in this country is another lies created by them, they've been bitter people, humans who are hateful by default, it's mind-blowing.

What is this clueless one talking about? Your Party has completely destroyed the country.

Beverlyjean:
The only reason Naira is depreciating is due to those hoarding the dollar... what those that have excess naira are doing now is to buy up as much dollar as they can to make profit... dollars should be for only those that need I for traveling or to pay for goods and services in USA alone ...

Outrightly ban the dollar, make it illegal, anyone caught with dollars should be arrested... give all those that are holding onto it one month to submit it to the nearest bank at 1k per dollar or have the risk of loosing it entirely once the deadline is crossed ...

All domiciliary accounts should be shut down , and all foreign currency should be converted to naira ... all BDC should be shut down ... if u need dollars , go to the banks ...

Again, FG should arrrest 5 bank MDs along with the execs to use them to set example for those bankers that round-trip ....

For those saying it's because we don't produce, know that Nigeria has always been an importing nation... let's also know that usa import their oil, USA also import some of their goods due to cheat labour in China and Indonesia .... we should ask ourselves why Benin Republic currency is doing better.. they don't need the dollars to hoard... they also import massively and they don't even have any tangible export to earn dollars , but their currency is doing way better than ours ...

I'm not saying that local production would not have an effect, it will , but not as much ... Nigerians are the reason why the naira keeps on depreciating... cos we wanna use it to make money... we are the only ones that do this nonsense in this whole world ... u can't go to Spain or Portugal or Kenya or malaysia or Bolivia or Lebanon and u will see their citizens buying up dollars to hoard so that it creates scarcity to make gain thereby destroying the country... our president is also guilty of this cos he shared dollars to delegates tk get elected ... why wudnt the naira keep on crashing

MAKE THE DOLLAR ILLEGAL AND WATCH HOW NAIRA WILL APPRECIATE

Only those that genuinely need it should get it thru the banks and u will not even get it in cash ... it will be wired electronically to the company or person that needs it only in the United States... if u wanna buy good from China, u don't need dollars , u need yuan , if u wanna import from Europe, u don't need dollars, u need euros or pounds... and only the banks will run that for u... when coming into the country, u must declare and submit ur foreign currency to the cbn stand in the international airport and then u will get the equivalent in naira, and when travelling, ur bank will give u a special card that can act as PTA or BTA with limited amount to spend ..

Do this and watch the dollar to naira crash to 150- 200 naira in a couple of months

I am thinking, why cant people that want to hoard dollars be encouraged to hoard gold instead?

dmz1:

I am thinking, why cant people that want to hoard dollars be encouraged to hoard gold instead?

It's because our mentality here is flawed... instead of them to hoard Gold , they hoard dollar, thereby making it scarce and expensive