• About
  • Advertise
  • Contact
Monday, October 27, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

WHY FLOATING THE NAIRA IS NOT A GOOD IDEA by Kola Asatola Asanike

Vital News by Vital News
January 10, 2024
in Economy
0
WHY FLOATING THE NAIRA IS NOT A GOOD IDEA by Kola Asatola Asanike

Kola Ashatola Ashanike

Share on FacebookShare on Twitter

WHY FLOATING THE NAIRA IS NOT A GOOD IDEA

By Kola Asatola Asanike

The idea of floating naira/USD and concurrently removing fuel subsidy is one of the main reasons for our current economic woes.

As both may sound as great economic reform strategy, they are not the best for our own present situation. Or let me say they were not properly implemented.

Look at how Naira/USD has been fluctuating for a couple of days now…some speculators are smiling to the bank every week. Small businesses are dying on a daily basis.

RelatedStories

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

Kola Ashatola Asanike.

It is only USD. EURO and POUND STERLING that are not supported even the second largest economy (China) currency is supported.

Why won’t we support our currency when we know we don’t have the capacity to curb corruption. Why do we have to pass this weakness from govt to the masses.

The three major currency floating is because of their universal acceptance. Spent anywhere!

However, I experienced something interesting this morning.

What actually motivates me to drop this note. I wanted to establish a fact, so I decided to tender pound sterling as legal tender in France, but to my surprise, they rejected it but accepted USD.

Probably it won’t be that way in other European countries. I doubt if they even know any currency called Naira by the way, come to think of accepting it. How would you float that!

The point is that we can’t equate our Naira to USD because some people argue that most currencies are not supported, and as such, Naira should be floating too.

Again, we can’t sustain not supporting it except if we are massively export driven. But rather , we are encouraging importation of toothpick and others.

*Kola Asatola Asanike is a public affairs analyst and politician.*
(vitalnewsngr.com)

Tags: currencyfloatingnairasubsidy
Previous Post

Former Power Minister, Olu Agunloye Remanded In Kuje Prison Over Alleged Fraud

Next Post

Why Nigerians Should Give Betta Edu A Second Chance By Olufemi Pedro

Vital News

Vital News

RelatedStories

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn
Economy

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

October 27, 2025
Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme
Economy

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

October 23, 2025
‎IMPI Welcomes First Interest Rate Cut In Five Years, Says CBN Decision Aligns With Its Projection
Economy

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

October 22, 2025
FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments
Economy

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

October 17, 2025
Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector
Economy

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

October 16, 2025
Next Post
Betta Edu Under Investigation For Diverting N585mln Into Private Account – Presidency

Why Nigerians Should Give Betta Edu A Second Chance By Olufemi Pedro

CBN Sacks Boards, Management Of  Titan Trust Bank, Keystone Bank, Union Bank, Polaris Bank

CBN Sacks Boards, Management Of Titan Trust Bank, Keystone Bank, Union Bank, Polaris Bank

Nigeria’s Inflation Should Ease In 2024, Says World Bank

Nigeria’s Inflation Should Ease In 2024, Says World Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Ododo committed To Media Training For Effective Public Policy Communication  – Spokesman

Ododo committed To Media Training For Effective Public Policy Communication – Spokesman

9 months ago
President Tinubu Promises Support As Floods Submerge Houses, Hospitals,Schools In Borno

Over One Million People Affected By Maiduguri Floods, Zulum Says, FG Releases N3bln For Victims

1 year ago
Alia Inaugurates 3 New Council Chairmen, Charges Them On Transparency, Good Governance

Alia Suspends Mining Activities In Benue

2 years ago
NUC Approves Nursing, Software Engineering, Data Science, Five Other Courses For Salem University

NUC Approves Nursing, Software Engineering, Data Science, Five Other Courses For Salem University

1 year ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu US
No Result
View All Result

Highlights

ARMTI, Abia State Partner To Create Wealth For Farmers, Opens Regional Office In South-East

More Than 65% Of Diseases Suffered By Nigerians Are Livestock Related – NVMA President

Dangote Refinery Announces Plan To Increase Capacity From 650,000bpd To 1.4million bpd

Ododo Promises Fairness, Transparency As Ekiti APC Holds Congress To Elect Governorship Candidate Oct. 27

NDLEA Raids Popular Lagos Night Club Over Drug Party, Arrests Owner, Pretty Mike, Others

Truck Involved In Fatal Accident In Akungba, Belongs DeGreat Rismub Company – Police

Trending

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn
Economy

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

by Vital News
October 27, 2025
0

The Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, says the service recorded a...

Aliko Dangote Foundation Flags Off  National Initiative To Promote Fermented Foods For Nutrition And Food Security

Aliko Dangote Foundation Flags Off National Initiative To Promote Fermented Foods For Nutrition And Food Security

October 27, 2025
President Tinubu Hails Oloye Lekan Alabi At 75

President Tinubu Hails Oloye Lekan Alabi At 75

October 27, 2025
ARMTI, Abia State Partner To Create Wealth For Farmers, Opens Regional Office In South-East

ARMTI, Abia State Partner To Create Wealth For Farmers, Opens Regional Office In South-East

October 27, 2025
More Than 65% Of Diseases Suffered By Nigerians Are Livestock Related –  NVMA President

More Than 65% Of Diseases Suffered By Nigerians Are Livestock Related – NVMA President

October 27, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn October 27, 2025
  • Aliko Dangote Foundation Flags Off National Initiative To Promote Fermented Foods For Nutrition And Food Security October 27, 2025
  • President Tinubu Hails Oloye Lekan Alabi At 75 October 27, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In