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Top man! Top insights as always! In summary, Nigeria is worse off even though the NBS Shows positive balance of trade. Convert those figures to dollars $ and see we actually performed worse off. Don't be deceived.
The Economic Reforms might not be working at the moment, however the Nation is now at the point where Good Economic Policies could be formulated and applied for Short, Medium and Long term Economic benefits of all sectors of the Economy including the Security Sector.
A Yangere (Taraba) proverb says: "No matter how fast and how far you move in the WRONG direction, you will never get to your destination" Tinubu's so-called reforms will be a monumental failure with a very weak Naira. Today, 1000 France CFA used in some African countries is 2,700 Naira. In 2014, the same 1,000 France CFA was. 350 Naira.
We have smart brains like this littered all over the country, but we have chosen to elect the worst set of people in our society into public office where they make negative decisions affecting everyone. Now we are all suffering
Floating Naira is much more impactful on the economy than removing subsidy, but sadly most of our analysts in the country are more concerned with subsidy removal.
If we don't know that inflation simply means the expansion of money supply and credit, then we're doomed to repeating the past failed policies. You don't get prosperous by printing money
Nigeria economy has defied all solutions,we have tried fixed exchange rate with poor results now we have floated the naira(devaluation of naira) and the economy is literally suffocating with Nigerians plunged deeper into poverty and penury. It is high time we question the proficiency and expertise of the economists ,financial experts and central bank governors who have run Nigerian economy for the past 40 years.These professionals are total failures.
Are you having an issue with Mr. Rufai or Tinubu? Obviously, you must hate the truth because of crumbs from Tinubu. Enjoy it before his devilish policies get to your family.
Be mindful of people you bring on your shows. Data shows the export increase both in NGN and volume. Don't you give them the topics they ar meant to discuss before coming to the studio?
Where do you always find this funny economists? When he was talking about import surge compare to last year, he didn’t talk about exchange rate, but immediately he started talking about exportation, he switched to exchange rate as if we buy from China with Naira. 😊 The bottomline is there’s increase of trade. We have more exportation than importation this year and Nigeria economy has grown than last year.
And some of the things/factors obscurring what should have been good impacts of these trade surpluses could be corruption(excessively over invoicing of capital projects) on the part of govt and capital repatriation on the part of foreign companies doing businesses in Nigeria
Are you really an economist? Stop naira flotation! How do you attract foreign direct investment to a country struggling to create employment? A country struggling with corruption and a cabal mentality? You say peg naira to other foreign currencies that are fiat(devalued). Our discussions should centre round demand and supply (laws of economics). Produce more, increase supply chain, and sell at the cheapest prices to create international competition and attract surplus. All we need is discipline. Mr. Agbaje all the countries you mentioned that revitalised their economies had discipline.
If you want to produce to manufacture to make things, do you make energy costs higher? How can God make electricity and fuel cheap to make things work, but Tinubu reverses and makes energy costly and expects to industrialize?
Who told you accountats dont look at underlying factors. Like accountants dont look at exchange rate. There are even reporting stadard on foreign expchange translation. Its best you speak on what yoou know
But he is right. As an accountant to the government. The job is to report on the financial situation on what they see on paper. They will not look at the underlying effects like an economist will
Is Tinubu not an accountant, as he claimed? Why has not considered the underlying factors before rejoicing over something that doesn't have an effect on the people? Or may be he just wants to be wicked.
@dareafolabi As an accountant. They will give reports based on what they have on paper, which is naira, and the currency in which they are supposedly reporting. For example, they claim foreign reserves have increased. Yes, it has but by 1.17%, but what they fail to communicate to Nigeria is that the value of our currency has dropped over 100%. So do you really have any increase in foreign exchange. Definitely NO. We are in a serious mess, and the devaluation of our currency is what makes them keep reporting all these lies. The effect on the ground is high inflation, and it will only get worse.
