BreconHills:


Let reply your question since we are in the season of questions.

Let us assume that the NGN was 650 to the USD. How much was being used to maintain that price per month? Let me help you. The answer is $1.5bn. If you factor that into the rate - then the NGN was never ever 400 or 650 or whatever you all use as your holy benchmark.

Secondly, what was the speculators arbitrage? $200 that's the difference between the official rate of 450 and the black market of 650. Today that arbitrage is next to nothing.

When you factor arbitrage cost and the $1.5bn, the current rate of 1250 - 1300 is far lower than your magic abracadabra 650.

Nigeria is a far better position today than it has been in many years. Yes it's painful but you can't make
omelettes if you don't break eggs.

So arbitrage is ur bone of contention not minding d super hyper inflation dis their mishandling of money policies is churning out?
Was it wise to float naira & at d same time hiking fuel prices hoping to kill d masses because u wan to show everybody u got balls?

my simple question I asked, u Jez dey explain explain explain, yet no evidence!

MichaelSokoto:

So arbitrage is ur bone of contention not minding d super hyper inflation dis their mishandling of money policies is churning out?
Was it wise to float naira & at d same time hiking fuel prices hoping to kill d masses because u wan to show everybody u got balls?

my simple question I asked, u Jez dey explain explain explain, yet no evidence!

If you are unable to find evidence inspite of the fact that I used numbers and you did not - it says a lot more about you than anything else. Even if I placed an economics textbook in front of you, would not understand.

Nigerias inflation comes mainly from FX prices. Address FX and you will address local prices. Subsidy payments are part of the drag on fx and consequently inflation. Fx rates are dropping, from May petrol prices will drop, diesel is already falling and so will prices.

Agriculture produce is dry season farming rainy season produce will soon be out.

Nigeria must make markets attractive for investors who will use innovation to lower prices. Subsidies cannot do that. NITEL Gsm vs MTN, Airtel, Glo models. Electricity tariffs too MUST ultimately go up to bring fresh investment into the broken transmission system and ultimate lower price per Kw.

The difference now is not about balls it's about creating sustainable wealth for Nigeria rather than the patch patch solutions of prior years.

Please note that I am not trying to convince you. You can't understand. Not now - politics has atrophied your mind. I am however writing to other people who in 10 -20 years from now so that they can understand historical issues from an economic point of view.

BreconHills:


If you are unable to find evidence inspite of the fact that I used numbers and you did not - it says a lot more about you than anything else. Even if I placed an economics textbook in front of you, would not understand.

Nigerias inflation comes mainly from FX prices. Address FX and you will address local prices. Subsidy payments are part of the drag on fx and consequently inflation. Fx rates are dropping, from May petrol prices will drop, diesel is already falling and so will prices.

Agriculture produce is dry season farming rainy season produce will soon be out.

Nigeria must make markets attractive for investors who will use innovation to lower prices. Subsidies cannot do that. NITEL Gsm vs MTN, Airtel, Glo models. Electricity tariffs too MUST ultimately go up to bring fresh investment into the broken transmission system and ultimate lower price per Kw.

The difference now is not about balls it's about creating sustainable wealth for Nigeria rather than the patch patch solutions of prior years.

Please note that I am not trying to convince you. You can't understand. Not now - politics has atrophied your mind. I am however writing to other people who in 10 -20 years from now so that they can understand historical issues from an economic point of view.

Ok Mr. Lecturer sir ,wen May comes & fuel price don't drop, pls how would u like me to serve u breakfast?

I mean, wat shld I do to u? cos I hate unnecessary long talks...