Very simple, Nigeria like many other nations are spending dollars faster than they earn them and mainly for goods for consumption at home. If the borrowings are for production and exports then the situation will be the opposite of the current.
Moving from consumption to production doesn't happen in a year, you will Firstly create an enabling environment, which I believe Tinubu is doing now. All these hardship currently were bound to happen with or without the current govt
@@pwonline9891 It's either You are not truthful to yourself or you don't know how the economy works. The economy is highly dependent on the confidence of small and big investors. The dollar losing so much value within a space of 8 months clearly shows that investors do not have confidence in Tinubu.
@@pwonline9891continue deceiving yourself. How is he creating the enabling environment? Where is he creating it? The only enabling environment Tinubu has created so far can be found in the renovations he undertook in the official residences of the president, vice president, etc. The enabling environment can be found in the monies expended in furnishing the unconstitutional office of the First Lady and the millions of dollars spent of purchase of motor vehicles for their so called offices as there were no vehicles on ground when they came in. Continue expecting enabling environment from a clueless government.
Agbado! On your mandate we shall stand! Tinubu and APC must do 3rd term so that Nigerians eyes will clear from tribalism and religious bigotry. Only truth and justice can make the people prosper!
Was it tribalism that made all votes in rivers state to be given to Tinubu. We should realized that we have set of politicians who bent on destroying nigeria before they absconded with their families. how do we made their mission impossible????
@@miltonchadwick : This hardship is necessary to produce tough citizens. Nigerians have become so soft that failure to drive children to school is now called economic hardship. We must learn to know the value of work and develop innovative ways to solve the numerous problems that plague the nation . Leadership is not the problem. Followers who expect something from nothing are the problem . We must retool the citizens for the challenges of today and tomorrow. These are not ordinary times and we don’t need ordinary citizens. We must learn to innovate and produce .
Did you hear his recommendations *Improve productivity *Increase confidence level of investors *Fiscal policy needs review *Competence of people running government *Efficient implementation of policies *Competence is more important at this time than Loyalty. (Different grades of Competence) These were all OBI emphasised Seun God bless - We need to speak truth to ourselves.
Flooding the economy with printed currency with little or no production and export is main reason in my opinion also enlarged governance, over borrowing, and large government expenditures with little inflow of foreign investors, inflation, and general security situation in the country period
That means sellers and producers of commodities should be doing well! Instead of complaining get into production and farming of commodities so YOU TOO can make more money! Also livestock and farm banking is a smart way to invest your money instead of leaving it in hard currency in your bank!
Yeah but the economy is dollarized. The goal of production aside mitigating the flow of imported products and commodities ought to be exportation so that the economy can capture ample amount of dollar to stabilize the economy.
Government advisors especially economist advisors are not during a proper job Mr president should reconstruct his economic advisors increasing custom duty at this time is catastrophic to the economy.
Governors need to have a brain reset. Governors must support aggressive food production through specialisation in agriculture products.e. g maize and soybeans in Niger, Kano etc; Ogun State to specialize in Cassava, Maize ; I believe specialisation is the way to go instead of this blanket agriculture that has no focus
Please, if possible, send this message to President BAT. If you want pepper and you grow your own, do you need a foreign currency? So, let's grow pepper, tomatoes, yam, cassava, and everything food and vegetables first. Then...
The government have to admit dt d floating of d naira was a big mistake. Own it and come clean and if possible change dat policy. Today we are now paying N400 per litre as subsidies; same subsidies dat was 200 per litre under Buhari.
Different metrics gives an ideal situation in solving the problem. Policy reform gives a structural platform to operate, but is these all transparent to succeed. - No. What we continue to experience is a virtues circle..... What Next, we need to be Transparent, Honesty, Focus....
Truth is a scarce commodity .Both privately and publicly. Productivity is comatose A deliberate policy of government and politicians. Is BAT capable and competent at this moment? I don't think so .
God intervene on your political process? Omo, we are in a economic problem. It’s been covered all along. Now no money to cover it anymore, but a total reform. It is painful but, if our leaders are truthful, we’ll get out soon. There’s no quick fix anywhere for Nigeria. Period!
Simply make Nasir Elrufai minister for power. Once we achieve somewhat of an Industrial Revolution type of transformation in that sector then we can turn from an economy of consumption to production. All this grammar is not going to help. Constant Power supply is the bedrock of our prosperity. God help naija
Africa should use a common currency just like some countries in Europe have a common currency called Euro. This will go a long way to make our currency a convertible one. Nigeria/ Africa is a hub of natural resources. The problem is that our leaders are corrupt and incompetent.
No country should need the currency of another country to trade and develop. A global reserve currency controlled by all countries equally is what the world needs for all countries to develop.
All countries cannot control a global currency. In a world where some industrialized nations are producing and creating wealths while others are importing and producing nothing. In such a world, the producing countries will have a stronger currency and control the exchange. It's as simple as that. We must produce and export.
Everybody is shouting production, you think the people in government don’t understand that? We need 24hrs industrial power to achieve that, how much investment do we need to have 24hrs power? Are we not still subsidizing electricity? How do you bring investors in? We need cost reflective tariffs to bring the kind of money we need to power up Nigeria. Are you ready to pay for cost reflective tariffs?
Not all production requires large scale industrial power... what of cocoa that makes Belgium over 10 billion annually? Even the manual production of textiles?... HAS the government even revitalized any facilities? Where are the factories???
They know but they don't have the will the fix the problem of power, and as long as we the people don't believe in this leadership it also affects the economy, that is why you don't steal it, run with it .
@@darrenjones7230...cocoa? Belgium? Is it not the same cocoa that Ghana exports? Didn't the president of Ghana tell the west that Ghana is no longer prepared to keep exporting cocoa. He insisted that Ghana should start making chocolate from their cocoa . It's called value addition and that is where the money or wealth creation is. For that to happen, you need power supply aka electricity. No nation in the world can develop without regular power supply. South Africa with a power generation of 25,000 MW is having problems due to aging facilities and increasing demand brought about by population growth. This has led to up to 4 hrs of scheduled power outage on a bad day. This alone is battering their economy like a turnado. Hence, how does Nigeria with about 5000MW of electricity output ...and this is when everything is running smoothly with no breakdowns talk of increasing productivity ? That is a long term plan and needs a government with a vision and clarity of purpose and strong will to achieve. Nigeria is too corrupt and those in positions of power are not the calibre of people that can steer the ship towards the required destination
Somebody should be bold enough to tell Tinubu the truth. If Tinubu as reported is an accountant he should have knowledge of what is happening or else he doesn't know and Nigeria is doomed to fail while our elites are watching.
@@avigrett1484 Na statistics wey go chop. Make Tinubu should retire since he doesn't have the Wand stick to undo the 40 years of corruption that him and his fellow colleagues destroyed the country. His silly politics is hurting the people.
The problem of Naira started when the issue of floating started. And who are the same people condemning it today. The same elite, expat and the mass carrying the campaign float Naira. If the government should have continued fixing the exchange rate when Buhari came in Naira should not have exceeded 300 to a dollar. And one thing I can assure you is that you can never reunify the exchange rate.
HOW LONG DOES THE FEDERAL GOVERNMENT WAIT FOR THINGS TO GET WORSE BEFORE THEY DO THE NEEDFUL? WHERE IS THE MONEY SAVED FROM SUBSIDY REMOVAL? WHEN WILL MINIMUM WAGE BE INCREASED????? WHERE IS THE PALIATIVE???
The shoes seem too big for the president. He needs to outsource some key cabinet positions. If what you have within your party aren't good enough, please hire from Microsoft, Amazon, International Finance Houses, etc. The destinies of over 220 million people is definitely greater than party loyalty and all that. If you don't have good players, you can't win games. No amount of optimism and wishful thinking can make you win games. It's time to throw away the drawing board and do something unusual. For every problem, there's a solution. You don't have to reinvent the wheel. Just copy, modify and paste.
What Mr Rewane is saying is that the policies of Tinubu's CBN in trying to fix the forex rate is the cause of the free fall of the Naira. I also came to the same conclusion earlier today after I heard that CBN has ordered banks to stop paying dollars to recipients of forex remittances. They should shut down the fraudulent official exchange rate and allow the market to determine the exchange rate
@@iniobongalfredpiiro3145 I don't know about that but it's irrelevant. I've followed him for a decade and no government has ever taken his advice and they've all failed.
I wonder why Seun keep bringing this textbook economist to come around mouthing textbook excerpts to us? This is the same Rewane that so much canvass and push for Naira floating? Didn’t He know all these when He was canvassing for the floating? Now that Naira has floated and so devalued and they don’t have solution, He keeps coming and reading textbook to us. Seun stop bringing this man, He doesn’t know His onion as you claim.
The current CBN governor, Olayemi Cardoso, lacks the competence to address the current challenges effectively. He seems so confused and helpless. It is my opinion that he should resign, and individuals with the caliber of Sanusi and Soludo are needed to be appointed immediately; especially someone outside the banking sector. It has become very critical and if nothing is done the economy could get to a breakup situation. A stitch in time will save nine.
All these talk of urgent action has always seemed to me more menial when compared in scale to the problem the Naira is facing, simply put Nigeria is a nation of importers and a nation that not a lot of people want what we produce other than oil and some basic raw materials, the only solution is a grander vision an industrial revolution in nigeria and now is the right time to think about that, with the world restructuring its supply and manufacturing chains but we've missed out on even that and the new winners for the next 2-3 decades have been determined, we need to start articulating this vision to put our descendants in the right space to take advantage of the next global restructuring. Seeing as we've missed two opportunities in the past five-six years. I'm sure these policies are badly needed to smooth over the functionality of these organizations but no country ever got great by focusing on the managerial tasks and policies they got great by having grander, bolder visions of what their nation should be
This guy Rewane, is full of economics theories. Current along does not solve the problems. The government is not investing in his people. Let him tell us one sector of the economy that is bring revenue to the Nigeria The government is busy sharing money. You cannot continue to borrow money to in reach themselves.
Stop politicians from seeking medical tourism abroad provided that you are a public servants. This should strictly be enforced on politicians and public office holders
Why must we continue to trade in dollars when we have our own currency? High time we start trading our oil and commodities being exported in Naira. Let the buyers also source for Naira to buy our products. We should do what likes of China, Indian and Russia are doing right now.
Dear Sir, your analysis fails to cover the main issue why Naira is free falling. Nigeria is not an export driven economy and therefore is not ripe for depreciation. Stop importing what you can produce at home. Fix energy infrastructure to promote industrialisation. Stop listening to foreign expats whose motives is driven by profit maximization. Stop copy and paste. Nigeria is developing economy and not developed, so you can not compare US with Nigeria which is centuries ahead. Put a stop to looting becsuse....and stop imposing foreign currency on local one. Pursue diversification to increase export and you see improvements. All these theories and PhDs will not solve the Nigeria's problem
The bulk money that they economy needs is in the hands of past administration. Probe all of the officials that work with buhari for the past 8 years and buhari himself. The economy will recover all the borrowed, printing of currency and abacha return loot that was looted again.
Why should any sane person listen to Rewane, He was the brain behind Buhari's economic team that plunged our economy into abyss. This guy is just an academic economist but streetwise, he's zero.
Great and Fantastic Analysis. But one thing still bothering me, and it has to do with why person like this can't be chosen as CBN governor or head of Economy Steering Committee for the Nation in order to practically put to work all these best ideas and knowledge in fixing the country economy. It is time to put politics aside and engage best brain in the country.
We don't need any financial advice from this man. We've come a long way as a country to continue to patronize charlatans with legacy last names. Bismark Rewane was a financial policy adviser to the last administration and look at where we are. My disdain for his lazy advice came to a head sometime last year when he could not answer a simple question of how "the poor Nigerians could benefit from government policies" supported by him. We have competent Nigerians who are educated enough to advice the government on policies that can trickle down to the last man on the street. My point is, Bismark is out of touch with what the regular Nigerian is facing on a daily basis
Peter Obi said he was given conditions by some countries for them to support him. I think for him to have refused those conditions means they were horrible conditions. If someone accepted these conditions, it means that nothing can be done to remedy our economy otherwise "we" will be breaching the "agreement". They want your economy down to control your resources.
Keep all these academic economic bullshits to the classroom. Reduce import duty by 50% and ban export completely for now and see how prices of goods go down. Enough of all these rubbish economic jargons. Shove them down your damn pockets. These were the same people that deceived buhari and now they're busy misleading Tinubu too. These so-called experts should stay aside and listen to laymen like us. Let us breath abeg!
Apparently, Rewane is just a one eyed man, he's the king, whatever he says to the gullible populace they take it hook line and sinker. Unfortunately he knows the theory but lacks the understanding of practicals and applications. Nigerian should stop listening to his theories, it leads to nowhere aside disaster.
I think he was part of those who work with Tinubu to promise Nigerians that there will be stimulation in the Naira by last year December.... Even though he is given the ideas, it will still need Effective administration by the Politicians to implement, without that nothing will work.
@@hamzattunde8545 if Nigerians are expecting a miracle to turnaround our economy rather than processes and working it through, they better go a be with their General overseers. God isn't going to give us any more miracles in order to feed our excesses, we need to face the reality.
Ever since I know this rewane Bismarck for like 20yrs prediction and analysis on Nigeria economy it has gone from good to worst hahaha too many blunders hahaha ever since his analysis naira was 80-1 dollars but now it almost 2k to 1dollara
Competence is more important than Loyalty.
The blunt truth! The patience and resilience of Nigerians should not be taken for granted.
It has already been taken for granted. In fact, we have been taken for fools!
Detailed! Channels is truly the best TV station in Nigeria. Your hardwork, professionalism and dedication to the truth shows.
Only 1 way 1 strategy
Move from Consumption to Production.
Hope was never a strategy
Very simple, Nigeria like many other nations are spending dollars faster than they earn them and mainly for goods for consumption at home. If the borrowings are for production and exports then the situation will be the opposite of the current.
Moving from consumption to production doesn't happen in a year, you will Firstly create an enabling environment, which I believe Tinubu is doing now. All these hardship currently were bound to happen with or without the current govt
@@pwonline9891 It's either You are not truthful to yourself or you don't know how the economy works. The economy is highly dependent on the confidence of small and big investors. The dollar losing so much value within a space of 8 months clearly shows that investors do not have confidence in Tinubu.
@@pwonline9891continue deceiving yourself. How is he creating the enabling environment? Where is he creating it? The only enabling environment Tinubu has created so far can be found in the renovations he undertook in the official residences of the president, vice president, etc. The enabling environment can be found in the monies expended in furnishing the unconstitutional office of the First Lady and the millions of dollars spent of purchase of motor vehicles for their so called offices as there were no vehicles on ground when they came in. Continue expecting enabling environment from a clueless government.
@@pwonline9891
Continue deceiving yourself. Tinubu knows nothing
nice
Excellent professional. Mr Rewane is knowledgeable. Time is now to face the truth and do the right thing.
Of what importance is knowledge that yields no result
Agbado! On your mandate we shall stand! Tinubu and APC must do 3rd term so that Nigerians eyes will clear from tribalism and religious bigotry. Only truth and justice can make the people prosper!
We've already gotten that
The grammar and theory do not bring any clarity on bringing down inflation. Where are the jobs?
Was it tribalism that made all votes in rivers state to be given to Tinubu. We should realized that we have set of politicians who bent on destroying nigeria before they absconded with their families. how do we made their mission impossible????
How can you produce without basic energy
Correct delusion of grandeur ✅️👍
Hardship never start una dey complain. We must stand on this mandate oo. 7 years to go ndi ala
Yesoooo
Before nko?
7 years, 4 months.😂😂😂
@@miltonchadwick : This hardship is necessary to produce tough citizens. Nigerians have become so soft that failure to drive children to school is now called economic hardship. We must learn to know the value of work and develop innovative ways to solve the numerous problems that plague the nation . Leadership is not the problem. Followers who expect something from nothing are the problem . We must retool the citizens for the challenges of today and tomorrow. These are not ordinary times and we don’t need ordinary citizens. We must learn to innovate and produce .
Lol 😅😂😂
This man is the best of the best
Did you hear his recommendations
*Improve productivity
*Increase confidence level of investors
*Fiscal policy needs review
*Competence of people running government
*Efficient implementation of policies
*Competence is more important at this time than Loyalty. (Different grades of Competence)
These were all OBI emphasised
Seun God bless - We need to speak truth to ourselves.
Must you make everything about Obi
Flooding the economy with printed currency with little or no production and export is main reason in my opinion also enlarged governance, over borrowing, and large government expenditures with little inflow of foreign investors, inflation, and general security situation in the country period
My government totally failed me is why I'm trying to wrap my mind around this when I only studied Ca2+ and H2SO4 in school
😂😂😂😂😂. Economics is a different ballgame ooo.
Se na statistics we go chop!! 😂😅😂😅😂
😂
Key take away is the fact that the exchange rate should also be realistic. Inflation can't be 100% and interest rate 8%
Confidence is a function of integrity and truth
That means sellers and producers of commodities should be doing well! Instead of complaining get into production and farming of commodities so YOU TOO can make more money! Also livestock and farm banking is a smart way to invest your money instead of leaving it in hard currency in your bank!
Cement in my state is 7200
Upon all these talk, nobody is talking about production. Tinubu has no plans and is unfocused.
Yeah but the economy is dollarized. The goal of production aside mitigating the flow of imported products and commodities ought to be exportation so that the economy can capture ample amount of dollar to stabilize the economy.
Make him minister of finance
Government advisors especially economist advisors are not during a proper job Mr president should reconstruct his economic advisors increasing custom duty at this time is catastrophic to the economy.
Governors need to have a brain reset. Governors must support aggressive food production through specialisation in agriculture products.e. g maize and soybeans in Niger, Kano etc; Ogun State to specialize in Cassava, Maize ;
I believe specialisation is the way to go instead of this blanket agriculture that has no focus
That is if the bandits will allow farming to happen.
Competency starts from the top
Please, if possible, send this message to President BAT. If you want pepper and you grow your own, do you need a foreign currency? So, let's grow pepper, tomatoes, yam, cassava, and everything food and vegetables first. Then...
The government have to admit dt d floating of d naira was a big mistake. Own it and come clean and if possible change dat policy. Today we are now paying N400 per litre as subsidies; same subsidies dat was 200 per litre under Buhari.
with USD going from 890 to 1500. the fuel price will certainly increase again or the subsidy will significantly jump.
Different metrics gives an ideal situation in solving the problem.
Policy reform gives a structural platform to operate, but is these all transparent to succeed. - No.
What we continue to experience is a virtues circle.....
What Next, we need to be Transparent, Honesty, Focus....
Truth is a scarce commodity .Both privately and publicly.
Productivity is comatose
A deliberate policy of government and politicians.
Is BAT capable and competent at this moment? I don't think so .
This is criminal!!! Please find out why Lagos has no lights anywhere! People are having to decide to eat or have fuel…. God please intervene
God intervene on your political process? Omo, we are in a economic problem. It’s been covered all along. Now no money to cover it anymore, but a total reform. It is painful but, if our leaders are truthful, we’ll get out soon. There’s no quick fix anywhere for Nigeria. Period!
Abeg leave God out of this, you think God doesn’t have better things to do .
@@DavidWilliams-rk1nq God is the one who can help… ill never leave Him Out!!!
Simply make Nasir Elrufai minister for power. Once we achieve somewhat of an Industrial Revolution type of transformation in that sector then we can turn from an economy of consumption to production. All this grammar is not going to help. Constant Power supply is the bedrock of our prosperity. God help naija
@masudsaleh5155 atoh. We know what is right but we refuse to do so!
Why not make Mr. Rewane the governor of CBN?
US inflation rate 2% annually, Nigeria inflation rate 21% annually. Do the maths, let's not deceive ourselves. We dont produce and export anything.
Selling dollar for auction is not a good idea! I don't think it would change anything 😕
Well well well well!!!!! Nigerians and Nigeria u have seen now. We said this man has nothing to offer. Well Weldon.
I taught we have all this commodities in Nigeria.
Tinubu was singing high praise of Cardoso. Is Cardoso fit for this harcolean task? It is Yoruba turn.
Africa should use a common currency just like some countries in Europe have a common currency called Euro. This will go a long way to make our currency a convertible one. Nigeria/ Africa is a hub of natural resources. The problem is that our leaders are corrupt and incompetent.
In 2019/2020, 1 dollar was 360naira. Fact
Tinubu must come again another 4 years. If our eye never clear after that, we bring Buhari back again for another 8 years
😂😂
ON YOUR MANDATE BOLA!!!!
Corruption is the reason
What is the use of elections in Nigeria ? Tinubu is a huge problem in Nigeria and West Africa as a whole
Cement is 11k in Edo state as of today
No country should need the currency of another country to trade and develop. A global reserve currency controlled by all countries equally is what the world needs for all countries to develop.
All countries cannot control a global currency. In a world where some industrialized nations are producing and creating wealths while others are importing and producing nothing. In such a world, the producing countries will have a stronger currency and control the exchange. It's as simple as that. We must produce and export.
@@martinschidozieezuma6741 RUBBISH. China manufacture and export more than America, yet doesn't have a global reserve currency.
Correction Mr Bismarck, 2018 Naira was 350 to 370 to a dollar. Not up to 400 Naira to a dollar.
Palm oil price is wrong.
Everybody is shouting production, you think the people in government don’t understand that? We need 24hrs industrial power to achieve that, how much investment do we need to have 24hrs power? Are we not still subsidizing electricity? How do you bring investors in? We need cost reflective tariffs to bring the kind of money we need to power up Nigeria. Are you ready to pay for cost reflective tariffs?
Not all production requires large scale industrial power... what of cocoa that makes Belgium over 10 billion annually? Even the manual production of textiles?... HAS the government even revitalized any facilities? Where are the factories???
They know but they don't have the will the fix the problem of power, and as long as we the people don't believe in this leadership it also affects the economy, that is why you don't steal it, run with it .
@@darrenjones7230...cocoa? Belgium? Is it not the same cocoa that Ghana exports? Didn't the president of Ghana tell the west that Ghana is no longer prepared to keep exporting cocoa. He insisted that Ghana should start making chocolate from their cocoa .
It's called value addition and that is where the money or wealth creation is.
For that to happen, you need power supply aka electricity.
No nation in the world can develop without regular power supply.
South Africa with a power generation of 25,000 MW is having problems due to aging facilities and increasing demand brought about by population growth. This has led to up to 4 hrs of scheduled power outage on a bad day.
This alone is battering their economy like a turnado.
Hence, how does Nigeria with about 5000MW of electricity output ...and this is when everything is running smoothly with no breakdowns talk of increasing productivity ?
That is a long term plan and needs a government with a vision and clarity of purpose and strong will to achieve.
Nigeria is too corrupt and those in positions of power are not the calibre of people that can steer the ship towards the required destination
@@darrenjones7230 how do you intend to process cocoa without power. and even modern storages require power.
Nigerians sha we want magic.
I have known this face talking on economy over the years. He was even part of the presidential economic team at a time with no results. All is talk.
Ok
Abi we are under US sanctions ni?
Somebody should be bold enough to tell Tinubu the truth. If Tinubu as reported is an accountant he should have knowledge of what is happening or else he doesn't know and Nigeria is doomed to fail while our elites are watching.
What makes you think that one man can wave a magic wand to undo the damage of more than forty years. You guys want to win a marathon without sweating.
@@avigrett1484
Na statistics wey go chop.
Make Tinubu should retire since he doesn't have the Wand stick to undo the 40 years of corruption that him and his fellow colleagues destroyed the country.
His silly politics is hurting the people.
The problem of Naira started when the issue of floating started. And who are the same people condemning it today. The same elite, expat and the mass carrying the campaign float Naira.
If the government should have continued fixing the exchange rate when Buhari came in Naira should not have exceeded 300 to a dollar. And one thing I can assure you is that you can never reunify the exchange rate.
Why in CFA countrys euro no go down and no go up ?
Hope is not a strategy
HOW LONG DOES THE FEDERAL GOVERNMENT WAIT FOR THINGS TO GET WORSE BEFORE THEY DO THE NEEDFUL? WHERE IS THE MONEY SAVED FROM SUBSIDY REMOVAL? WHEN WILL MINIMUM WAGE BE INCREASED????? WHERE IS THE PALIATIVE???
My question is why is nobody talking about price fixing as a solution?
The shoes seem too big for the president. He needs to outsource some key cabinet positions.
If what you have within your party aren't good enough, please hire from Microsoft, Amazon, International Finance Houses, etc.
The destinies of over 220 million people is definitely greater than party loyalty and all that.
If you don't have good players, you can't win games. No amount of optimism and wishful thinking can make you win games.
It's time to throw away the drawing board and do something unusual. For every problem, there's a solution. You don't have to reinvent the wheel. Just copy, modify and paste.
These are d pple dat advice d government to float d naira; deh will keep speaking Grammer until d naira hits 5000 to dollar.
Balablu has hit the ground running with sufferings on Nigerians, while his in France eating Alakatet food. 😅
What Mr Rewane is saying is that the policies of Tinubu's CBN in trying to fix the forex rate is the cause of the free fall of the Naira. I also came to the same conclusion earlier today after I heard that CBN has ordered banks to stop paying dollars to recipients of forex remittances. They should shut down the fraudulent official exchange rate and allow the market to determine the exchange rate
I thought he was in Buhari's team
@@iniobongalfredpiiro3145 I don't know about that but it's irrelevant. I've followed him for a decade and no government has ever taken his advice and they've all failed.
It is simple economics . Produce what you consume and stop this National idolatry of dollar worship.
What do you produce. The cars are simply assembled. Nobody in Nigeria makes care Engine from Scratch. What exactly do you produce.
@@otikoman You don’t produce cars so stop using cars and focus on public transportation.
Without basis distribution of energy for economic production you continue to chase shadows
I wonder why Seun keep bringing this textbook economist to come around mouthing textbook excerpts to us? This is the same Rewane that so much canvass and push for Naira floating?
Didn’t He know all these when He was canvassing for the floating? Now that Naira has floated and so devalued and they don’t have solution, He keeps coming and reading textbook to us.
Seun stop bringing this man, He doesn’t know His onion as you claim.
The current CBN governor, Olayemi Cardoso, lacks the competence to address the current challenges effectively. He seems so confused and helpless. It is my opinion that he should resign, and individuals with the caliber of Sanusi and Soludo are needed to be appointed immediately; especially someone outside the banking sector. It has become very critical and if nothing is done the economy could get to a breakup situation. A stitch in time will save nine.
Forget Bismarck, the man a chameleon.
All these talk of urgent action has always seemed to me more menial when compared in scale to the problem the Naira is facing, simply put Nigeria is a nation of importers and a nation that not a lot of people want what we produce other than oil and some basic raw materials, the only solution is a grander vision an industrial revolution in nigeria and now is the right time to think about that, with the world restructuring its supply and manufacturing chains but we've missed out on even that and the new winners for the next 2-3 decades have been determined, we need to start articulating this vision to put our descendants in the right space to take advantage of the next global restructuring. Seeing as we've missed two opportunities in the past five-six years.
I'm sure these policies are badly needed to smooth over the functionality of these organizations but no country ever got great by focusing on the managerial tasks and policies they got great by having grander, bolder visions of what their nation should be
Ya’ll sleep ooo oyibo Gov rules nigerian Gov simple!!! (Cashless society is comming)
Cement is 10000 naira in Adamawa state is not 6500
Tinubu's should tell us whether Naira will appreciate again to even 1 us$ to 1000 Naira
This Tinubu of a man is a disaster in disguise,maybe its time to go back to the regional system of governance.
Emilokan has japad
This guy Rewane, is full of economics theories. Current along does not solve the problems. The government is not investing in his people. Let him tell us one sector of the economy that is bring revenue to the Nigeria The government is busy sharing money. You cannot continue to borrow money to in reach themselves.
You are very correct. Theory poju. Instead of profering realistic solutions.
The solutions are quite simple. Create an enabling environment for businesses to thrive
Promote infact industries to thrive by driving local production
Stop politicians from seeking medical tourism abroad provided that you are a public servants. This should strictly be enforced on politicians and public office holders
Then engage in massive and aggressive export of what we have produced locally
Why must we continue to trade in dollars when we have our own currency? High time we start trading our oil and commodities being exported in Naira. Let the buyers also source for Naira to buy our products. We should do what likes of China, Indian and Russia are doing right now.
TNK GOD TINUBU IS OUR PRESIDENT EVERYONE WILL CHOP BREAKFAST
Dear Sir, your analysis fails to cover the main issue why Naira is free falling. Nigeria is not an export driven economy and therefore is not ripe for depreciation. Stop importing what you can produce at home. Fix energy infrastructure to promote industrialisation. Stop listening to foreign expats whose motives is driven by profit maximization. Stop copy and paste. Nigeria is developing economy and not developed, so you can not compare US with Nigeria which is centuries ahead. Put a stop to looting becsuse....and stop imposing foreign currency on local one. Pursue diversification to increase export and you see improvements. All these theories and PhDs will not solve the Nigeria's problem
The bulk money that they economy needs is in the hands of past administration. Probe all of the officials that work with buhari for the past 8 years and buhari himself. The economy will recover all the borrowed, printing of currency and abacha return loot that was looted again.
Why should any sane person listen to Rewane, He was the brain behind Buhari's economic team that plunged our economy into abyss. This guy is just an academic economist but streetwise, he's zero.
Great and Fantastic Analysis. But one thing still bothering me, and it has to do with why person like this can't be chosen as CBN governor or head of Economy Steering Committee for the Nation in order to practically put to work all these best ideas and knowledge in fixing the country economy. It is time to put politics aside and engage best brain in the country.
So 1200..
Isnt 1200 still poor ? 😂😂😂
This is not the time for rookies. We’ve said it over and over; Nigerian youths are not fit for governance.
Is it the youths that are in power now ?
Dollar wasn't 490 to naira 2016
GOD BLESS PBAT. HISTORY IS GONNA BE KIND WITH HIM FOR HELPING THIS NATION TO GET TRUE VALUE OF NAIRA.
There is excess supply of naira by 14%
1980 1N>$2 shame to you all talking jargon😢
AVYEGYBA IS PRICELESS TAKE CARE OF THE AVYNEGYBA CHILDREN MY GOODNESS YAHFA BERMUDA
We don't need any financial advice from this man. We've come a long way as a country to continue to patronize charlatans with legacy last names. Bismark Rewane was a financial policy adviser to the last administration and look at where we are. My disdain for his lazy advice came to a head sometime last year when he could not answer a simple question of how "the poor Nigerians could benefit from government policies" supported by him. We have competent Nigerians who are educated enough to advice the government on policies that can trickle down to the last man on the street. My point is, Bismark is out of touch with what the regular Nigerian is facing on a daily basis
Peter Obi said he was given conditions by some countries for them to support him. I think for him to have refused those conditions means they were horrible conditions. If someone accepted these conditions, it means that nothing can be done to remedy our economy otherwise "we" will be breaching the "agreement". They want your economy down to control your resources.
This are the same people who always advocate for devaluing Naira. Always talking from the 2 side of the mouth
What do u expect? When he stole it
Lie . That main inflow of any foreign currency is based on on individual export value and not otherwise
What do you really want Seun? Be optimistic as a citizen.
Asking essential questions about the economy doesn't mean he isn't optimistic as a citizen.
Keep all these academic economic bullshits to the classroom. Reduce import duty by 50% and ban export completely for now and see how prices of goods go down.
Enough of all these rubbish economic jargons. Shove them down your damn pockets. These were the same people that deceived buhari and now they're busy misleading Tinubu too. These so-called experts should stay aside and listen to laymen like us. Let us breath abeg!
ban export and reduce import duties? which kind economics be this?
this depreciation percentage is wrong sir, from 490 to 1450 is over 100%, not 66%
Apparently, Rewane is just a one eyed man, he's the king, whatever he says to the gullible populace they take it hook line and sinker. Unfortunately he knows the theory but lacks the understanding of practicals and applications. Nigerian should stop listening to his theories, it leads to nowhere aside disaster.
I think he was part of those who work with Tinubu to promise Nigerians that there will be stimulation in the Naira by last year December....
Even though he is given the ideas, it will still need Effective administration by the Politicians to implement, without that nothing will work.
@@hamzattunde8545 if Nigerians are expecting a miracle to turnaround our economy rather than processes and working it through, they better go a be with their General overseers. God isn't going to give us any more miracles in order to feed our excesses, we need to face the reality.
6:14
Do not bother buying a toilette tissue since the naira can suffice.
Ever since I know this rewane Bismarck for like 20yrs prediction and analysis on Nigeria economy it has gone from good to worst hahaha too many blunders hahaha ever since his analysis naira was 80-1 dollars but now it almost 2k to 1dollara
Lie . The true value is base on production and trade value of the Naira.
Old price
This is nonsensical analysis
O o ooooooxxxxx
This Tinubu of a man is a disaster in disguise,maybe its time to go back to the regional system of governance.