Halting The Free Fall Of Naira Depends On These Factors - Economist

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[@user-Whiteshadow]

If you can’t explain it simply you don’t understand it well enough. This man has a good grasp of economics and should be taken seriously.

[@kelechiekemekwe940]

Sound man! Eloquent presentation! Nice one guys - but are they listening 😂

[@olufunmilayoajayitomori5747]

Hoarding $?¿? Ask the governors what they do with their monthly allocations?

[@chy788]

Which currency did the federal government use yo import SUVs for the legislature & co.We are getting what we deserved.

[@phemphemmy6103]

It takes leadership to fix all mess . Economist can talk from now till tomorrow.

[@BakerMills7]

Facts!

[@nwankwochukwuma4430]

Fact,

[@kingsleyiher9986]

Try to halt the rapid fall of the naira......Look my friend if a mighty stone is falling from the sky......pls for your safety '' run '' don't try to halt or catch .....else you will be crushed

[@agbejeogah4271]

Even if Dangote pays in Dollars, NNPCL is not obligated to bring the Dollars to CBN. This is part of the challenge!

[@michaelegonu6918]

To get the true value of Naira it will take two and half years from now if Nigeria carry out the right exercise.

[@justiceonyediekenta9605]

Mr Alaje Said it all. The situation is pitiable. 😢

[@treasurehunter183hunter8]

It's spelled pitiful

[@mn7024]

​@@treasurehunter183hunter8you mean better put as.......

[@timothytoa345]

Why should Nigeria be importing cruel oil from the USA? When will Nigerians learn a lesson from the failed policy of the Western world is never a good policy for Nigeria 🇳🇬 or any Africa country.

[@mineh7502]

True, but the selfish interest and lack of patriotism will not allow those in charge to do the needful

[@princejohn-su5yr]

That is the very democracy that Britain and America are forcing the whole world to practice

[@AdamOsa]

Until you stop blaming the Western world. Everything about money always done in the dark.

[@obn1459]

The oil cruel ooo...😊

[@timothytoa345]

@AdamOsa why should we not blame them because any Nigerians leaders who refuse to yield to their command, they will assassinate, or they will froze their accounts. Nigerians leaders should not be allowed to bank in foreign countries' banks.

[@miketunde8416]

It’s evident that the people in diaspora are very important, when they comes in on holidays they bring their $&£ to boost the forex but in the past one years we have seen lots of app that help them change their hard currency at a higher rate than the Nigerian banks . That is the reason the BDC do not have $ hence the raise in the $ . Also the mop up of $ during elections

[@toluadeyemi5857]

Wow

[@evangelistnosazeblogtvshow2414]

Good evening everyone you all are welcome God bless you all one love peace ✌️

[@michaelsenior5048]

Gentlemen, there is nothing Nigeria can do as long as you are trading is trading in DOLLARS ???

[@olufunmilayoajayitomori5747]

Whatvhappens to billions budgeted for defence?

[@ka8209]

The value of the Naira compared to the Dollar is low. You are not producing; you have nothing, and those guys are not supposed to be earning up to 800,000 per month in total. You need to reduce senators' salaries. If they cannot serve the country, let them go."

[@AdamOsa]

The senators should be paying the bandits with their salaries because it's the same corporation.😂

[@osawemwenegiebor6769]

If you are saying all local crude purchases should be done in dollars, will that not increase local demand for dollars with consequent increase in dollar against naira as per exchange rate?

[@pegboh3315]

This question is asked and answered at around 26:20

[@evangelistnosazeblogtvshow2414]

The government has to provide all the available tools for the masses to be productive, the question is do we have the available tools???

[@ishobol7407]

This Alaje person doesn't know what he is talking about. How can a local refinery paying in dollars help the naira? Wouldn't this refinery be looking for dollars to pay for crude? The solution that make sense is to sell to local refiners in naira and sell to foreign buyers in foreign currency perhaps in dollars.

[@joshuaelaiho2201]

I tot I was the only one who picked that up. 😂 if I buy crude in dollar I will sell fuel in dollar too

[@mikeplaine1686]

Sir let me explain his point. U know that federation and oil companies have arrangement to share daily crude output. During Obasanjo administration, they agreed to be setting aside part of federation share for domestic use, abt 400k barrel daily. The amount 4 refineries of nigeria can at that time refined. During Jonathan administration, opec restricted nigeria to 2.1mil daily, Jonathan administration were meeting that quote, of that 2.1mil, 1mil was actually federation share. Only on that 1mil can cbn earn foreign reserve. 400k was kept for domestic allocation and 700k was then sold via international market ie forex for nigeria. These were the good years. Then buhari came, the output dropped to average of 1.5mil During buhari time which means the federation share was running below 500k. By the time u remove domestic allocation, there were no more crude remaining to earn forex, this was why buhari was so terrible. Secondly all the refineries in nigeria were no longer refining so what were they doing with the domestic allocation. Nnpc was taking then offshore to go refine them, pay dollar for the transaction then return them back to nigeria to sell to petroleum companies in naira. Now in tinubu administration, they r producing 1.3mil daily, the federation share is barely enough to meet the domestic allocation, nnpc is now using those domestic allocations to do all these nonsense forward/future oil swap contracts that u r hearing of. One of them, govt used nnpc to borrow $3.3b but will pay back this loan in 5yrs for future value of $12b using oil allocations corruption

[@emmanueluwaifo3045]

Just look at how we're just playing Kalo Kalo with our economy. Everybody saying their own bit. We're gonna crash. Very soon.

[@KelisonConcepts]

I think the govt or CBN should declare domiciliary accounts illegal.

[@obn1459]

It will affect them, their friends and family members too

[@chineduuyah4427]

It is a no no for locally consumed petroleum to be transacted in dollars ,it's going to create more scarcity of dollars and increase the depreciation and inflation in Nigeria

[@user-pd7wf9bm1k]

Hmmm

[@bankolegbolahan2521]

A PRODUCTION COMPANY MUST KEEP RUNNING AND YOU CAN NOT SHUT DOWN DANGOTE BCOS CRUDE IS NOT COMING FROM NNPC. THE REFINERY MUST BE RUNNING PENDING WHEN NNPC CAN SUPPLY

[@ismailaolaitan2834]

We're not the same. The country should be divided.

[@emmanuelnwaneri3261]

Mr Alaje ALWAYS speaks sense, but TBT no one in govt is listening. Since I've been a teenager I've been hearing all the wonderful things that shld be done to fix Nigeria. I'm 53 now & NOT one of those things has happened. All we do in Nigeria is talk & talk & talk, while every1 is looking to steal & steal & steal. If u can get a visa pls grab it; take ur family & leave Nigeria. Worse days are coming!

[@technopreneurialminds]

Too much Grammar! Let Nigeria face the issue of electricity squarely, and its implications will result in unprecedented boost in manufacturing, and many other production initiatives.

[@emmanueluwaifo3045]

You're a brilliant dude. That was all I commented on. Just fix electricity. That's all.

[@ephramevezi48]

In a nutshell, curbing corruption and insecurity in our exportable transactions.

[@ng.kemzie7506]

BRILLIANT ANALYSIS. HE IS THE KIND OF BRAIN THOSE OTHERS QUICKLY EMBRACE AND WHISK HIM TO THEIR COUNTRY ABROAD TO BUILD ASSIST BUILDTHEIR BUSINESS EMPIRE. BUT THE OWLS FEEL CHALLENGED WITH SUCH BRILLIANCE BECAUSE THEY'RE OF MEDIOCRITY GRADES.

[@gentlemanedotv]

Who is incharge of NNPC ?

[@AdamOsa]

Until you guys stop using the word the federal government. Say tinubu administration. Why not put a moratorium on oil drilling For at least 5 years to enable the cleaning up of the polluted area.

[@vonniofdoom5590]

As soon as shell left, there goes their oil exports

[@larryenobakhare9040]

Corruption corruption

[@chukaakunedozi5767]

That policy that you don't want to mention on air. Tinubu can't do it. The north that has the bdc business will finish him. Even his france friend won't allow him to do it. So it's safe to say that the Naira will slowly but surely get to 2000 to a dollar on or before Dec 2024.

[@emmanueluwaifo3045]

Naaaah. Give it 3 months.

[@ka8209]

"I'm ready to go back to farming if the government can support. The solution is agriculture. Let us start selling products such as cocoa, rubber, finished products like garri, and well-packaged plantain chips, among others. in Yoruba, Ti ebi ba kuro ni ise. Ise buse. When hunger has been driven away, work becomes meaningful. Prosperity follows.

[@andosehcampbel5701]

Côte-d'ivoire with a population of 30 million exports 1.2 million tons of cocoa. The largest exporter in the world, even during their civil world. Nigeria produces a paltry 300 thousand tons.

[@obn1459]

with stockfish, kpanla fish, tilapia fish, cow meat, goat meat and kanda etc

[@mn7024]

= 0 with Naija official impunity culture

[@kennethchinweike6346]

We are just confused in this country, "we just de do try your luck" with our economy. They had said to make the Naira strong we need to buy and sell in Naria. Now they are saying that our major export, crude oil, should be sold in dollars to make the Naira strong. Yet they want us to have faith in the Naira. How? 🙄😏🤷‍♂

[@olufunmilayoajayitomori5747]

What is the justification on high expenditure on forign school fees and medical services? Short and medium meadures should include improving efucation and medical standards to substitute for these services and save forex and later earn forex given quality of our doctors abd education as it was in the 60s

[@topmedicalshop]

You want to go and seize people's dollars from their account. Oga you go cause panic hoarding and your naira go fall from Kilimanjaro..... Ask Lebanon if that policy worked for them ... As we speak 1$ is 15k plus lebanese pounds ,naira is on it way to 3000 by the end of this year with your policies. Mark my words and save this message.

[@lawrenceonuorah6019]

0

[@theeconomist1212]

Nigeria needs to urgently focus on manufacturing and primary industry, and in the meantime, significantly reduce consumption of unproductive dollar items. The government must be ready to take the hard choices; the people must be ready to sacrifice consumption. The earlier the better.

[@ffdtutors2270]

I dont think it is right to sell crude oil to dangote in dollars. You cannot sell to anything in Nigeria in dollar.

[@touskinhouskin]

the people lifting the crude oil...where will they get dollars to pay to lift the crude? If they stop lifting the crude due to shortage of dollars...what will then happen? unintended consequences.

[@AdamOsa]

If they stop lifting the oil, that will be good for Nigeria, then all the crooks will look for alternative way to steal.

[@touskinhouskin]

@@AdamOsa and what will happen without electricity or generator to the masses...they will look for alternative ways to steal too...then chaos

[@hakeemg3850]

What is the government doing with the gains from fuel subsidy removal? What government intervention is avaliable to Nigerian citizens. Why paying in dollars in Nigeria? If care is not taken Nigerians might experience hyper inflation like Zimbabuwe Subsidise farmer Protect farmer Reduce the ongoing germstone mining on Nigerian soil hence the reason for insecurity.. Provide jobs to force inflation down. Issue government contracts to Nigeria businesses not foreigner

[@ng.kemzie7506]

😂😂😂😂unfortunately the group of OWLS are deaf to your continuous grammar. I wish they can hear. Omashè o. Una well done but guide your BP because of your loved ones please. Love what you guys do. Continue one day the group of rigjt owls will occupy the government.

[@theduke6174]

The Naira will bounce bank and surpass previous rates in the next 6months. This FALL was caused by a shift in the oil subsidies, it will RISE under a new route to the oil and gas industry. This chaos occurred because our economy is 89% reliant on the Oil and Gas industry. REMOVING the subsidies will save the economy.

[@andosehcampbel5701]

There are still some few motivational speakers around. I thought they all left with the 8 years misrule.

[@xiaobingwang]

save ur ass

[@ChukwuemekaKalu-vb6og]

​@@andosehcampbel5701😂😂

[@davedon260]

Free fall of Naira because Nigeria is a consumer economy. People should stop waiting for handouts and get independent. Everything grows in Nigeria . How Many people have farms? No amount of USD can solve the problem. Be productive and stop wasting money on useless things.

[@ObjectiveObserver-xh4vk]

Corruption cannot fight corruption 😅 If you think Tinubu can solve our problems, you are deludional.

[@kelvindavid4439]

This man is taking nonsense, Is the APC is killing Naira.

[@efehiidubor4320]

I don't agree with you at all