THE INTRINSIC EXCHANGE RATE VALUE OF THE NAIRA TO THE DOLLAR UNDER NORMAL CIRCUMSTANCES [IF APC, BUHARI, TINUBU AND CO HAS NOT HAPPENED TO NIGERIA] SHOULD BE N365/$1, TODAY NOVEMBER 3, 2022.

 💢THE INTRINSIC EXCHANGE RATE VALUE OF THE NAIRA TO THE DOLLAR UNDER NORMAL CIRCUMSTANCES [IF APC, BUHARI,  TINUBU AND CO HAS NOT HAPPENED TO NIGERIA] SHOULD BE N365/$1, TODAY NOVEMBER 3, 2022.

Let me explain .....

✍️As at January 17, 2016, the exchange rate of the South African rand  to the US Dollar was R16.88. 

✍️The Exchange rate of the Namibian Dollar to the US Dollar within the same period was 16.83

✍️As at today, November 3, 2022 the exchange rate of the South African rand to the US Dollar is R18.40. 

✍️The exchange rate of the Namibian Dollar to the US Dollar today, November 3, 2022 is 18.22.

✍️From the above rate movement data , you will see clearly that over a period of more than 6 years, the rand depreciated in value of about 9% to the US Dollar.  Same for the Namibian Dollar. 

✍️If you do same simulation between the US Dollar to the UAE Dirham or Singaporean Dollar,  you will see clearly that the exchange  rates of those countries  remained stable for 6 years plus. No volatility ....

✍️Do you know why? Those countries have working, productive, merit based, and transparent  economies in the true sense of it . They did not create a rent seeking haven for lazy looters and wicked amoral consumers.

✍️NIGERIA CAN ENJOY A WORKING, PRODUCTIVE , TRANSPARENT,  VALUE ADDING AND HUMAN DEVELOPMENT ECONOMY THAT WORKS FOR ALL .

IT DOES NOT REQUIRE ROCKET SCIENCE TECHNOLOGY TO ACCOMPLISH THIS... 

WE JUST SIMPLY NEED TO  OVERHAUL THE WHOLE FISCAL, GOVERNANCE,  SECURITY, AND  SOCIOECONOMIC ARCHITECTURE OF THE COUNTRY TO RESET HER ON THE PROGRESSIVE PATH ...

✍️ATIKU OF THE PDP AND TINUBU OF THE APC WILL ONLY CONSOLIDATE AND AMPLIFY ON THE STATUS QUO.. WHICH WILL CREATE MORE MISERY, POVERTY, INSECURITY, EXCHANGE RATE INSTABILITY AND DEATH FOR NIGERIANS POST 2023..

✍️The only Presidential Candidate,  who has shown us a little  glimmer of Hope that Nigeria can actually be reset and reclaimed for her citizens  is Peter Obi/Datti Ahmed... 

✍️Below is a summary of What Peter Obi, has told Nigerians that he will do to reset this blessed country, reclaim her  and hand it over to the good people of Nigeria....

💥The value of the naira to the US dollar at any period of time  is determined and influenced Mostly by the simple law of demand and supply 

Once the supply of the dollar to its demand is sustainably more, the naira will appreciate in value significantly ...

What are Nigeria's key sources of dollars supply ?

1. Export of commodities and services... 

2. Foreign Direct Investments

3. Diaspora remittances and Investments 

4  Fx denominated borrowings. 

What are the items that consume most of our FX earnings 

1. Food and food commodities import $11bn annually 

2. Petroleum Products and mineral oil $10bn to $13bn

3. Medical and education tourism ... $2 to 3billion 

And others. 

HOW DO WE RAMP UP SUPPLY OF DOLAR  TO OVERSHADOW DEMAND FOR DOLLAR?

1. Stop the oil theft that leaks $22bn into the pockets of thieves annually and ramp up output 

Make sure our solid mineral resources like gold , lithium,  lead,  etc that are  being looted by bandits are brought into the formal economy and captured in the federation revenues .

2. Aggressively secure Nigeria through the three layered security arrangements,at the Municipal,  State and Federal level.   If permitted [ as Peter Obi has promised to do) to set up our own Municipal security of 300 armed men with AK 47 and other sophisticated weapons and intelligence,  no bandits will be able to enforce sit at home in my town or kidnap with impunity.  Legal and more lethal  force  deters unlawful terror. 

3. With security in place and aggressive scientific pursuit of agro and agro processing initiatives at the three streams of that sector , we can easily cover 80% of the things we import locally.  $8bn saved 

We shall also ramp up and export things that will fetch us non oil export of over $30bn to $100bn within the first 18 months ... yes, it can easily be done ..

4. With the total deregulaton of the whole  oil and gas value chain,  Privatisation of the refineries and total removal of subsidies,  we shall end the regime of fuel oil import and even export refined products to cover the daily needs of the west coast and Subsahara africa at about 200m liters per day 

5. With security in place,  and putting in place the policy and transparent governance architecture for diverse BOT, DBOT, DBMOT etc PPP SCHEMES , huge  FDIs will flow into  Nigeria ...Nigeria has the depth, size , market  and capacity to attract over $80bn to $100bn FDI annually 

6. Diaspora Nigerians are Thirsty and hungry to have a transparent and sincere government in place in Nigeria.  Peter Obi has their trusts 

These guys amongst them generate over $300bn in disposable income annually.. the $25bn Diaspora remittances you saw annually when things were a bit better under OBJ was just less than 10% of their disposable income 

Under the NIDOA framework and other frameworks, Peter Obi  shall create project tied dollar denominated bonds/mezzanine fundings for PPP projects that can easily attract not less than $50bn Diaspora Investments annually. 

Example of such PPP  projects that will be unlocked to attract Diaspora long term investment inflows is the 800km Lagos to Sagamu to Ijebu Ode to Ore to Benin to Asaba to Onitsha to Owerri ti Aba  to PH , circle back Umuahia  to  Okigwe to Awka to Enugu  Standard Rail Project( the most lucrative route in Nigeria)

It is a 45 years DBOT schemes with world Bank counter guarantees ..

The template and framework is ready and the SPV , Rail Track LLC is ready .. Rail Track Nigeria is the delivery vehicle 

The Bahn Group Germany and the turks will run the technical schemes. 

7. Elsmed  Israel and the key private sector players working with the FGN/ state governors under PPP schemes will set up within 3 years 6 world  class medical centers linked to Tel Aviv that will stop 80% of the medical tourists and open up Nigeria as the medical hub for West  Africa 

The maritime,  port and aviation sector will be unbundled and made efficient so much that Nigeria Will become the transhipment hub  for Subsahara Africa.. check what Singapore is  doing 

Many audacious  legal , structural,  fiscal and socio-economic reforms will be pursued to make here the best place to do business in Africa 

✍️The current parallel market exchange rate of  N830 to $1  is criminally contrived and  driven ... It is the political bandits and their private sector fronts that are fueling it ... it is as a result of a systemic failure that need to be fixed ...

✍️The mess we are experiencing today [ outrageous price and forex instability ] is as a result of the 7 year plus governance ponzi games of  Buhari,  the APC political  bandits and leadership at  the CBN.

Under  the Peter Obi Presidency the following Fx management adjustments will also happen immediately

*There  will be only one fx exchange rate  window.. There will be no more room for criminal arbitraging... No one at the CBN will have the guts to periodically  allocate $15m to Margaret Obi at  N450 to go and round trip at N750 at the parallel market through one BDC. Or to one big business man to go and set up businesses in other countries ..[ ANYWAY, there will be no dollar  cash around or multiple exchange rate markets  for anyone to manipulate and arbitrage criminally]

*Use of dollar cash in Nigeria will be criminalised and only online and electronic dollar  transactions will be accepted in Nigeria...

*No Nigeria agency[ NPA, NIMASA etc]  or businesses  will be allowed to collect rents or payments for services or supply of goods in dollar ... One year imprisonment without option of fine await the offender [ already the judiciary will be empowered,  properly remunerated , and made fully independent to dispense justice without fear or favour ]

✍️Buhari and APC are the ones wrecking Nigeria... what you have experienced in Nigeria over the last 7 years is an Institutionalised and  unbridled culture of  impunity of monstrous proportions under this APC regime....

Rogues and bandits without shame or scruples roamed about so freely...

✍️Nigeria will Blossom Again Under Peter Obi Presidency 

✍️Nigerians are the most resilient people on planet earth. The stellar performances/ productivity of the over 5million Diaspora  Nigerians under conducive environments attest to this fact ... We can recreate such conducive fiscal, security and socio-economic economic environment back home here ...

✍️However,  if a majority decides to stick to agbado and Cassava for them and 50million of their Children... Good for them 

✍️The choice of the kind of Nigeria that you desire rests on  your PVC... God help us.