Ijebulogic:
SLS must be laughing so hard as the Vagabonds in Power continue to R4pe our country. Dollar didnt move this much in Sanusi's 5 years as CBN Governor. Ogbeni Emefiele....check yourself!!!

Ijebulogic:
SLS must be laughing so hard as the Vagabonds in Power continue to R4pe our country. Dollar didnt move this much in Sanusi's 5 years as CBN Governor. Ogbeni Emefiele....check yourself!!!

anonimi:


I thought Ijebu people are really very smart when it comes to money matters and by extension, economics. You sure sey you deserve this your ijebulogic moniker?

Was there a drastic drop in oil price throughout Sanusi's tenure as we are having currently

Perhaps na you suppose check that your ofege logic!

BlackTechnology:




O boy Wise up


CBN is trying its best to prevent depletion of our foreign reserve since no one is certain if oil price will rise again.

anonimi:


I thought Ijebu people are really very smart when it comes to money matters and by extension, economics. You sure sey you deserve this your ijebulogic moniker?

Was there a drastic drop in oil price throughout Sanusi's tenure as we are having currently

Perhaps na you suppose check that your ofege logic!

barcanista:
We need a change in government. Our Fiscal Policy has been counter-productive due to high rate of corruption plus high cost of running government. Nigerians save your future, kickout the incumbent with your votes..plssssss

Obiagelli:

I like the word might, i like how you ignored china.


Btw why can't Enugu mine its own coal, why can't zamfara sell its mineral resources. Ask your pdp lead FG

Volksfuhrer:


What the cbn is trying to do is obvious. It is still a bandaid all the same if you don't drastically cut government spending 70 percent of which is recurrent expenditure. Or are we saying there's no political will to do this.

Devaluation is an easy choice but it has its costs and limits.

atlwireles:


Laughing at what? The same SLS who spent $117B in 4.5 years defending the Naira? The joke is on him.

espn:
yes it must..d party in govt must b called! Jonathan will destroy dis country!

chukel:
obiagelli, I'm really extremely disappointed in you. Y can't u ignore these tanoids. U really destroyed the trend of the thread ever since u joined. Control yourself.

hayokunleoni:
5 pages on a very misleading topic and wrong interpretation. Naija youth, I hail thee.
What the CBN announced is not a devaluation of the LCY. The official Naira is not allowed to swing in line with the forces of demand and Supply. This is because, the CBN has pegged the official rate at N155 per USD since 2012 with + -3% band. If u want to know the actual value of the Naira, check the BDC and Parallel market value. The CBN simply moved up the peg rate for official rate so that they can effectively defend the Naira from attack in view of the sliding oil price and high demand of FCY from local users. Please be guided

Billygee2u:

so your country was good before ?

emmyspark007:
Chai...Warris dis..5naira no fit even buy cold sachet water

RockMaxi:


You don't need rocket science to know that the party mentioned has no plan for this country beyond enriching their cronies and personal pocket. :-

PDP have been in government for 15years now, oil prices have always been on the increase until now.

There is no political party that can save our economy from this crisis. APC is not even going to do it because indirectly they all contributed to this bogus and unrealistic recurrent expenditures that have been crippling this economy.


We only pay lip service to economy diversification and poor enough we have almost nothing to attract appreciable volume of dollars that can keep us afloat.
We need the divine intervention of God.

knowledgeable:


No, you need a complete political restructuring of the country, if we are going to survive as possible. Let me educate you a little bit. The convergence of of manners of forces against have just entered a level two phase. ...........Nigeria is doomed.

bushdoc9919:


No....we do not need restructuring now (although it is not a bad idea, really).

We need to develop an industrial economy.....and get off oil completely.

We need to invest more in power supply and transport infrastructue....with railways as key.

We need to spend heavily on technical education....and build up a corps of million s of technicians.....not paper graduates.

We need to improve domestic manufacturing....and get Ajaokuta running again

And we need to end corruption.

Restructuring now would just involve changing the paint on the car....without fixing the engine and the innards.

We have to live like we have no resources.....and become like China, Japan and South Korea. and Germany!

Kx:
From being the biggest economy in Africa by GDP figures to devaluing the nation's economy in a space of a couple of months

The exchange rate and interest rate just got transformed. under the transformation agenda!
So much for Fresh air!

BlackTechnology:



Do you know that cheap imported products destroy local industries and high cost of imported products encourage local industries.



This is a blessing for local industries but disaster for importers.

citizenisb:
On the black market you will need 182 Naira today to buy Dollar.

http://313bdc.com/

Obiagelli:

We seriously need to overhaul the police, there is absolutely no way we can get anywhere with the present crop of officers we have, let state government recruit new officers, it could be done systematically.

Btw i will like to know if police Commissioners are appointed or elected in the US. I have heard stories of non officers becoming commissioner.