kayfra:
An average Nigerian will scream bloody murder when Atiku implements this. The value of naira to the dollar will dramatically rise, probably north of 700 Naira to a dollar and prices of everything will increase immediately.

While it seems like a reasonable economic policy. Nigerians are absolutely not ready for it.

grandstar:


And you believe theres an option other than a float? Please educate me! Buhari tried a fixed which plunged the economy into a severe recession.

Im waiting.

SarkinYarki:
There is no need to even risk inflation to immediately improve FDI, ousting Buhari alone will improve FDI prospect by over 100 percent in 2 weeks

Moorish:

Its frightening what the future holds

Rising birth rates and we have the largest number of people in extreme poverty

I do fear however, the Jerry Rawlings or gadaffi approach, Libya is worse today

grandexpress:


Libya is worse because the Western Vultures had to step in to mitigate Ghadafi's growing influence in Africa.

That is the only way out. PDP and APC are nothing but Jokers seeking for their never ending intersts.

pacespot:
More like saying you want to sell Nigeria back to the colonialists. Foreign investors (especially the West) are not attracted by only the economic environment, they are also attracted by the political environment. China is one of the most attractive and lucrative investment destinations for foreigners, but since Donald Trump was elected president, European companies have been withdrawing their investments from the country.

Buhari administration has made a lot of improvement to the infrastructure in Nigeria, power has been the major bane of economic development in Nigeria before this administration, but today that overhead has been reduced. Taking my area as an example, we now experience a regular power supply for at least 23 hours per day in the past 6 months. The would-be Nigerian entrepreneurs should capitalize on this improvement in the power sector. This is not a political rhetoric, I believe everybody can see the difference in power today.

Our next wave of economic transformation should be industrialization, not by sabotaging our fragile economy to appeal to foreign investors who can leave at any moment. Industrialization will make foreign investors to come by force. With this administration making inroads into rail links and road constructions, these the bases for a real industrial economy.

I'm beginning to suspect this Atiku is planted to mortgage Nigeria for the West.

balanceofterror1:


Buhari as a person is economic blockage.

humandroid:
Nigeria has been defending the Naira through fraudulent means and that is how CBN becomes a pipeline for corruption in the name of 'stabilizing the exchange rate'.

It is time we try something else, let us allow the economic indices to determine the true position of our economy, then we can begin to fund manufacturing and other sectors and end the dependence on importation.

I am with Atiku on this. Of what use is a high value Naira when my phone can not stop ringing from people who need help because of a poverizing economic strategy ?

Atiku is open with his economic policy, Buhari has no knowledge of what is called Economic Policy, so I stand with a man who is vocal about what he represents and ready to face the critics of his policies, that how we should jaw jaw as opposed to war war.

kahal29:


I just pity non economist who would not see what you are seeing.

Foreign Investment and capital is hot money which is highly volatile and unstable.

feddis:
That's why he has a strong financial guru on his side for a VP.
Your believe that he is going to drive this nation backwards is very wrong and untrue.
I believe he will build a better and strong financial team to grow this nation just as he did back then by bringing Ngozi back to Nigeria.
No can investors come into a learned nation like Nigeria and just abscond with our wealth under Atiku unlike the Buhari administration that is compromising with MTN after looting us.

revolt:
yes I totally agree with letting market forces determine our exchange rate ie floating the naira. This is a super incentive for Fdi inflow.

SIRAO:
those supporting Atiku 're Nigerian illiterates and uninformed people, those without basic economic knowledge, butcher's, okada riders etc. this is a post sound and educated minds. Atiku is a bad market for an import oriented country like ours. without trade protectionism, our industries will not grow . is the thief ruling out capital flight?

kingkakaone:

Brother, let's remove political affiliations in our analysis and we'll see that this move is DOA.
Also thinking a VP will influence Atiku and his decisions is a bad gamble because we know how power drunk Africans leaders are.
Imagine how Pence has been silenced in Trump's government, that's to show u that a VP has little or no power to influence a regime.

BTW, This move by Atiku will destroy the economy as all foreign investments will be short term and will expose the country to danger when most of the investors relocate their money abroad.

I expected Atiku to talk more on improving our manufacturing sector and other solid minerals to enhance our local currency and reduce our reliance on imports.

Look bro, so long as our import is so high, this move is suicidal.

jmaxjohn:
Not supporting any political party.
But floating the naira should lead to a more transparent economy.
The value of the naira would be directly related to how the economy is doing. At least we'd know how shitty this country is, not the lies the govt and cbn are dishing

However, the current state at which the country is, a float would be massacre

Yyeske:
This is exactly what those illiterates don't understand. Imagine floating the naira with the attendant huge inflation, how are we sure that foreign investors are coming in? A dollar could be going for 1000 naira and nobody coming in to invest and what do we do?

Ugosample:


true that

The Buhari admin is subsidising the dollar at high costs and deceiving the masses

femiti:
Most naija politicians just say anything without truly weighing their words before speaking.

How can you say you want to float the naira when you have not done the needful( boosting real gdp which will in turn increase export) ?

It is has been argued that supply side policies bring about increase in economic growth with little inflation.

Why cant our politicians use this supply side policy that is the hard and self sustaining route instead of the usual attraction of fdi, increase in mpr...subsidy ?

Any aspirant that is not pro supply side policy will just be another scam

MeanChris:
See all the complex analysis Atiku is making, showing someone with a knowledge of economics.

The only thing Buhari knows and thinks is corruption this, corruption that..

Oya fight the corruption na, He's telling us that a consensus corrupt individual is responsible.

Oga Buhari is done.. he should go and rest, let capable hands handle the country.

Kai to Lifeless FC

revolt:
how will the fdi inflow be short term? You'd assume there wouldn't be terms and conditions ...why hasn't mtn and dstv ran away. You fail to realise nigeria is Africa's largest economy by population alone sef. Any company that gets plugged in here has hit jackpot. Why do you think theyre reluctant in building numerous refineries in Nigeria....the pib hasn't been signed thats all that's stopping them. They're all watching and waiting for a law that protects them in that sector. Our govt doesnt even have to sell a single refinery they would build brand new ones in record time.

quickberry:
See the person that wants to rule us, that would be an economic suicide Mr. Atiku

xtravanganza:
economic experts should comment not political fanatics.

bigpicture001:
...for a very undeveloped country like nigeria,floating the exchange rate which means removal of restriction on both demand and supply side of the foreign currency..this will not end well for d economy. the citizens have insatiable desire for foreign goods nd not much imprt sustitución industries on ground to rival them....

It will eventually kill d economy nd dry up local investment nd unemployment will rise...

Nations that promote a market mechanism for exchange rate..i.e floated rate are well developed nd hv comparative advantage in international trade...it's certainly not a good idea for naija.....

Moorish:

The best option is to spend on Infrastructure and boost local production, while reducing imports

Floating the currency would be good if other countries bought Nigerian made goods

kingkakaone:

Let me answer your Mtn and DStv issue.
Both of them built a system before the present uncertainty.
They were pioneers in their own sector when the economy looks promising.

No investor will engage in business after looking at the economy in the last 10years.

Foreign investors are very careful when investing in Africa. There are indices that defines their momens in deciding whether to spend or not.

Of they cannot see a 10years economic growth, they won't invest.

Concerning refineries, most investors won't rush into it even though the PIB is passed. Reason is because crude oil is getting unstable and the determinant factors are unpredictable.

revolt:
pls break down what you mean by supply side policy? Cos not all of us understand that verbiage.