• About
  • Advertise
  • Contact
Wednesday, October 8, 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

NCDC Chairman, Akighir, Promises Equitable Distribution Of Projects, Interventions Among States In North Central

Visitors Besiege Dangote Pavilion As Company Marks Special Day At Abuja Fair

FG, Kogi Empower 8,600 Households Under Cash Transfer Program

Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth

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

NCDC Chairman, Akighir, Promises Equitable Distribution Of Projects, Interventions Among States In North Central
Economy

NCDC Chairman, Akighir, Promises Equitable Distribution Of Projects, Interventions Among States In North Central

October 7, 2025
Visitors Besiege Dangote Pavilion As Company Marks Special Day At Abuja Fair
Business

Visitors Besiege Dangote Pavilion As Company Marks Special Day At Abuja Fair

October 5, 2025
FG, Kogi Empower 8,600 Households Under Cash Transfer Program
Economy

FG, Kogi Empower 8,600 Households Under Cash Transfer Program

October 3, 2025
Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth
Economy

Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth

September 27, 2025
Court Berates EFFC Over Disregard For Rule Of Law, Orders Immediate Release Of Aisha Achimugu
Crime

Why EFCC Must Unravel Alleged Financial Malfeasance, Misapplication In Yobe By Usman Machina

September 26, 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

Bishop Egbebunmi Urges Adeleke To Repair Osu- Iloba-Ijesa Road

Bishop Egbebunmi Urges Adeleke To Repair Osu- Iloba-Ijesa Road

2 years ago
Protest : President Tinubu Directs Immediate Release Of Minors In Police Net

Protest : President Tinubu Directs Immediate Release Of Minors In Police Net

11 months ago

Cholera, measles outbreaks claim 61 lives in Adamawa, Benue

3 years ago

Dangote Refinery to reduce Africa’s petroleum importation by 36pct, says APPO

4 years 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 elections 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
No Result
View All Result

Highlights

History As Governor Abiodun Inaugurates First Flight At Gateway International Airport

Dangote Refinery : FG Berates PENGASSAN For Holding Nigeria To Ransom

NCDC Chairman, Akighir, Promises Equitable Distribution Of Projects, Interventions Among States In North Central

EXPLORING CHINA’S YUNNAN AND ITS COFFEE HAVEN : Travelogue By Lawal Sale

Agbamuche Becomes INEC Acting Chairman As Mahmood Yakubu Serves Out Tenure

I Am Under Intense Pressure To Contest 2027 Governorship Election In Taraba — David Kente

Trending

President Tinubu Accepts Departure Of Yakubu As INEC Chairman, Bestows CON National Honour On Him
National

President Tinubu Accepts Departure Of Yakubu As INEC Chairman, Bestows CON National Honour On Him

by Vital News
October 7, 2025
0

President Bola Ahmed Tinubu has accepted the departure of Professor Mahmood Yakubu’s as the Chairman of the...

Amid Allegation Of Certificate Forgery, Geoffrey Uche Nnaji Resigns As Minister

Amid Allegation Of Certificate Forgery, Geoffrey Uche Nnaji Resigns As Minister

October 7, 2025
Acting Chairman Of INEC,  Agbamuche-Mbu, Promises To Uphold Standards, Integrity , Professionalism

Acting Chairman Of INEC, Agbamuche-Mbu, Promises To Uphold Standards, Integrity , Professionalism

October 7, 2025
History As Governor  Abiodun Inaugurates First Flight At Gateway International Airport

History As Governor Abiodun Inaugurates First Flight At Gateway International Airport

October 7, 2025
PENGASSAN Members Shut Down NNPC, NUPRC, NMDPRA

Dangote Refinery : FG Berates PENGASSAN For Holding Nigeria To Ransom

October 7, 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

  • President Tinubu Accepts Departure Of Yakubu As INEC Chairman, Bestows CON National Honour On Him October 7, 2025
  • Amid Allegation Of Certificate Forgery, Geoffrey Uche Nnaji Resigns As Minister October 7, 2025
  • Acting Chairman Of INEC, Agbamuche-Mbu, Promises To Uphold Standards, Integrity , Professionalism October 7, 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