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Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 (26011 Views)

Senate To Invite Emefiele Over Naira Devaluation / Rising Food Prices, Serial Naira Devaluation Compound Nigerians’ Woes / Finance Bill: Senate Mulls Taxing DSTV Premium Bouquet (2) (3) (4)

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Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Melison(m): 10:51am On Mar 18, 2020
Devalue which naira?? At 360 per dollar una never still gree till e reach 2000 per USD before una get sense,rubber stamp senate

2 Likes

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by asatemple(f): 10:52am On Mar 18, 2020
You people should be coming out gradually, we’ll survive
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by thundafire: 10:52am On Mar 18, 2020
GOFRONT:
Since the coming of Covid19, I have not heard from MANNABBQGRILL and Darling Daddy..
I think is looking for way to decamp
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Nobody: 10:53am On Mar 18, 2020
GOFRONT:
Since the coming of Covid19, I have not heard from MANNABBQGRILL and Darling Daddy..

1 Like

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by sunshineV(f): 10:53am On Mar 18, 2020
I'm tired of commenting on Nigeria related thread

2 Likes

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Spechialone(f): 10:54am On Mar 18, 2020
After US
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by HalleHayes: 10:55am On Mar 18, 2020
Make una go as una like
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by NairaMaster1(m): 10:57am On Mar 18, 2020
Buhari is a bad luck

2 Likes

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by vincentjk(m): 10:59am On Mar 18, 2020
When these people finish with Nigerians dem go hear word, shebi una dy shout say baba 5-6years ago abi

Ntorr anyi
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by owunabastard: 11:00am On Mar 18, 2020
This one is still sleeping, Naira that is 420-450 per dollar, you are still talking of 360
Melison:
Devalue which naira?? At 360 per dollar una never still gree till e reach 2000 per USD before una get sense,rubber stamp senate

1 Like 1 Share

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by bigtt76(f): 11:05am On Mar 18, 2020
Are these people well at all? Countries are proposing ways to alleviate the sufferings of the people and these ones want to compound it? When you devalue the currency, how will essentials be imported into the country and made available cheaper? When you remove subsidy and people can't afford it .....what sense does it make?

What needs to be done is cut down cost of governance which is taking almost 60% of our revenue. angry


dre11:
…Ministries of Finance, Petroleum, CBN to brief chamber



https://thenationonlineng.net/senate-mulls-naira-devaluation-subsidy-removal-over-covid-19/



1 Like

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by MondayOsunbor(m): 11:05am On Mar 18, 2020
DonFreshmoney:
It has begun. Naira would soon be devalued to N1000 to a dollar. Nigeria is a big mess..

Our people never suffer finish.

LADIES AND GENTLEMEN ARE YOU READY FOR NATIONAL RIOT I AM NOT TALKING ABOUT PROTEST


I MEANT OLD STYLE RIOT

3 Likes 1 Share

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by jansonn(m): 11:06am On Mar 18, 2020
Ive never been more determined to jappa from this country as I am nw!!

1 Like

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Abagworo(m): 11:10am On Mar 18, 2020
GamalNasser:
Which subsidy ? I thought the lying Major General said he was under recovering ...But with price of crude oil below 30 dollars per barrel what subsidy are we talking about ? They should just say the want to increase fuel price so they can have what to loot as usual , all other countries are mooting fuel price reduction and satanic APC is talking of removing subsidy , at 30 dollars per barrel there can be no subsidy in effect , what difference are they subsidizing at 30 dollars per barrel ...when Buhari can he claimed he had removed subsidy completely and took fuel price to 147 per litre till today he cannot show what he did with money he gained before he now claimed he was paying under recovery because crude had gone to 70 dollars per barrel and now it below 30 dollars the wicked man is still claiming he is paying subsidy !!!! Paying subsidy on what ?

In 6 years the failed man has not fixed a single refinery , has not improved electricity , has not stabilized the naira and now he wants to add a new fuel tax under the guise of removing a non existent subsidy ..there can be no subsidy at 30 dollar per barrel!!!!!

After devaluation the price will remain same while subsidy is gone. They should simply deregulate fuel price and allow the businessmen do their thing. Removal of subsidy is not sustainable without outright deregulation

1 Like

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by tempest01(m): 11:10am On Mar 18, 2020
Maybe corona virus is God trying to reset the senses.

And make this fraudulent admin think about the future.
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Melison(m): 11:12am On Mar 18, 2020
owunabastard:
This one is still sleeping, Naira that is 420-450 per dollar, you are still talking of 360
I heard it bro but I dey yarn based on last week
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by erico2k2(m): 11:14am On Mar 18, 2020
dre11:
…Ministries of Finance, Petroleum, CBN to brief chamber



https://thenationonlineng.net/senate-mulls-naira-devaluation-subsidy-removal-over-covid-19/



Anything una wan do una do but never you lot remove fuel subsidy, this is the only payment FG does for the common man!
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Keemsleek005(m): 11:14am On Mar 18, 2020
Officialgarri:

Baba, try to be smart when making comments. And stop forcing your name on us by posting your picture on every comment you make. Your comments, rather than prove you to be intelligent, only shows you are here for the "likes". You are not smart enough to be known.


Back to the topic:

While I'll ignore the removal of subsidy for now, I believe Devaluation of Naira would have been the best option in this period we are. We can't keep defending the Naira with the reserve only.

However, for how long shall we continue to devalue?

It's always like Nigeria devalues and then sits back and let it slide.
It should not be so!
This is the time where the Minster of Science and Tech. (Who has been promising us production of pencils, go to space and so many unfound promises) Minister of solid minerals, and Minister for Agriculture — should be summoned and given a strict deadline to up their games.

We need to export so badly and bring down importation to the least possible


Pls dont be angry i think you be a good teacher try enlighten every single person that needs to understand these better, 10 bottle of big stout for you. You sabi book

2 Likes

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by COMPAQ(m): 11:15am On Mar 18, 2020
GamalNasser:
Which subsidy ? I thought the lying Major General said he was under recovering ...But with price of crude oil below 30 dollars per barrel what subsidy are we talking about ? They should just say the want to increase fuel price so they can have what to loot as usual , all other countries are mooting fuel price reduction and satanic APC is talking of removing subsidy , at 30 dollars per barrel there can be no subsidy in effect , what difference are they subsidizing at 30 dollars per barrel ...when Buhari can he claimed he had removed subsidy completely and took fuel price to 147 per litre till today he cannot show what he did with money he gained before he now claimed he was paying under recovery because crude had gone to 70 dollars per barrel and now it below 30 dollars the wicked man is still claiming he is paying subsidy !!!! Paying subsidy on what ?

In 6 years the failed man has not fixed a single refinery , has not improved electricity , has not stabilized the naira and now he wants to add a new fuel tax under the guise of removing a non existent subsidy ..there can be no subsidy at 30 dollar per barrel!!!!!

I think what he means is deregulate now (remove subsidy), so that when crude prices recover, the price of petrol will be determined by market forces, like diesel which i support. Crude is slowly becoming valueless, yet we waste it on the middle class with their 2 and 3 cars. If you dont have a car, you benefit like 5% from subsidy. But if you have a car, you benefit like 80%, so its clear that its the middle class that benefit.

2 Likes

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by MondayOsunbor(m): 11:19am On Mar 18, 2020
Spechialone:
After US


AT 360 TO DOLLAR HUNGER WAN KILL US HERE IN NIGERIA

AT 600 NAIRA TO DOLLAR

WETIN YOU THINK WILL HAPPEN?
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by AntiWailer: 11:22am On Mar 18, 2020
smart thieves.



time to sell their dollars after devaluation.
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by MondayOsunbor(m): 11:22am On Mar 18, 2020
vincentjk:
When these people finish with Nigerians dem go hear word, shebi una dy shout say baba 5-6years ago abi

Ntorr anyi


OGA are you not in nigeria with them ?

you are finished as well as them
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by connkg(m): 11:30am On Mar 18, 2020
In what direction has the budget of current APC government leaned, in support of diversification?
It is good to make policies supporting various SMEs and ask Banks to lend, but can we see the Ministry responsible lead an infrastructural revolution in Agriculture...from sand to steel to mouths?
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by InvertedHammer: 11:31am On Mar 18, 2020
/
It is not about coming on nairaland to argue, debate, insult or curse.

Global wealth redistribution is in progress.

Tap it if you have the wherewithal or forever remain a wailer. Be bold and take no prisoners.

\
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Spechialone(f): 11:31am On Mar 18, 2020
MondayOsunbor:



AT 360 TO DOLLAR HUNGER WAN KILL US HERE IN NIGERIA

AT 600 NAIRA TO DOLLAR

WETIN YOU THINK WILL HAPPEN?

We'll go back to Stone age, then maybe we may get it right at d Dawn of our own civilization...just maybe
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Nobody: 11:33am On Mar 18, 2020
All I see is share incompetence on the side of APC and the rest. The main Headquarters of COVID-19 are not even close to complaining, they are solving the problems they have, doing their normal exports, Russia is also there exporting crude and making money is large amounts, currency has not even thought of going down and here you are ranting. FG is basically thinking the only and only source of Income for Nigeria is Oil and after using it to build Roads in the North and Embezzle the rest, and foot bills for Boko Haram, you are here screaming on failures and blaming it on COVID. Thank God they did not blame PDP for ruling nigeria 16 years and inviting COVID
I sha pray Nigerian Naira sha no go be like Venezuela , Iran and some other miserable currencies we have, where at least now ours is still manageable. Northern Nigeria should Leave politics, they obviously do not have a single understanding of governance or what it takes to rule.

All these Millionaires , Lecturers , Business Moguls in Nigeria are not cows like them. End of story.

1 Like

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by AreaFada2: 11:35am On Mar 18, 2020
quaintbloke:
My own is just that Boris Johnson and his Chancellor should give themselves brain like D.Trump and send my money to my accant.
Tax break and mortgage break doesnt cut it for me.
All this talk of stimulus package is not stimulating anything abeg angry
Lol. At least Johnson has a plan of £330 billion that over time will help many businesses and people.

Our darling Bubu that has no plan nko?
Devaluing naira and withdrawing subsidy when the whole world is throwing money into the economy?
When GEJ said let's remove subsidy and save excess crude money, they said he was clueless. Now they want to do the opposite of what the others worldwide are doing. grin

Why devalue currency when you have no industrial or high volume of other goods to export? shocked

2 Likes

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Nobody: 11:37am On Mar 18, 2020
AreaFada2:

Lol. At least Johnson has a plan of £330 billion that over time will help many businesses and people.
Our darling Bubu that has no plan nko?
Devaluing naira and withdrawing subsidy when the whole world is throwing money into the economy?
When GEJ said let's remove subsidy and save excess crude money, they said he was clueless. Now they want to do the opposite of what the others worldwide are doing. grin

Why devalue currency when you have no industrial or high volume of other goods to export?

Thank God e no say na PDP invite uncle COVID-19 . As them day always fine who to blame.

2 Likes

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by osamz007: 11:38am On Mar 18, 2020
May ask one foolish question shaa


THIS MONEY WEY DEM DEY TALK SAY E NO DEY, NO BE MACHINE DEY PRODUCE AM?

IF YES, WHY THE MACHINE NO DEY PRODUCE SUFFICIENTLY, AS I DEY NOW I NEED SERIOUS ANSWERS ABEG.

Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by osamz007: 11:40am On Mar 18, 2020
BU HARI NA CURSE TO THIS COUNTRY UPON ALL THINGS WEY PAST LEADERS DO WE NEVER SUFFER LIKE THIS
Re: Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 by Coldie(m): 11:41am On Mar 18, 2020
NdiaraIGBO:
Blacks don't want to produce anything but love to consume every rubbish!

Una go suffer tired!!!

190m fools.
And u will continue to be one of the them along side you and your generation.

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