Caseless:
remember, rand increased by 5rand against dollar while our naira increased almost 40(160+40) naira. How do u explain this?

Lol. Help me ask o.

diluminati:
forget the rising dollar to naira rate but what about the reverse? the naira is a worthless piece of paper.

Just imagine N1, 000 = just $5?

Let Boot our the government of errors.

Say no to PDP 2015!

It seems you get your exchange rates from the coven abi

ZKOSOSO:
GMB is damn too illiterate to handle economics of polity.
GMB pls go to school.
Go get OND or Degree first before I take u serious!! This is not arab nation pls!

Did you know that GMB go school pass everybody for your clan including GEJ?!
Next time, seek knowledge and learn before you open your gutter.
www.google.com
OP, right now 1 usd is 187.
It's never and never will be N200.
Why the fuss?!

ducii:


I dont understand what you mean by 5 rands to the Dollar, but if you look at the illustration i gave you you will see that rand has lost over 40% of its value in 2 years while the Naira has only lost about 12%

i mean if rand went up frm 6 to 11 rand against d dollar as a result of d crisis, why shld our naira go frm 160 to 200 naira against d dollar?

macklef:

Lol. Help me ask o.

u de mind am...

barcanista:
How shallow can you go? Buhari is illiterate yet he was trained in Military Schools home and Abroad. Buhari is too illiterate yet he reduced inflation rate from 27% to 5% within 20 months. He was pragmatic with sound economic policy, yet he had no degree. Your Havard trained Iwaela with PHD and the equally PHD holding President are dummies when placed side-by-side with Muhammadu Buhari.

PS: Brazillian immediate Past President Da Silva had NO tertiary education but he lifted so many poor Brazillians to middle class through his economic policies. Something the incumbent couldn't sustain despite her bogus certificates.

Buhari never attended a degree-awarding NDA (if he attended it in the first place). Pls show us proof that he obtained a degree from NDA.
secondly, there is no proof that his government reduced any inflation (please can you show us credible statistics from credible sources?)
thirdly, Lula Da Silva before his presidency was a union leader; the only comparison in Nigeria is Adams Oshiomole.
Buhari is no Oshiomole!

nduchucks:


Nonesense!!!!

The Central bank has been supporting the naira with N40 - N45billion in reserves, for the past 15 or so years. The naira was devaluated because the reserves fell to N35 - N38billion.

If the clueless one had not Presided over a thieving administration including his NNPC stooges who still cannot find $10.8billion if we are to believe Iweala instead of Sanusi's $20billion, we would have had well over $70billion in reserves - enough to support the naira and help position us for greatness.

Feb. 2015 cannot arrive too soon.

ogbeni $70 billion is not enough to support the Naira. While you are pondering this, please tell us [size=14pt]how[/size] your candidate Buhari can increase our forex reserves. is it by decreeing an increase in oil prices (keep in mind that Nigeria's forex is generated by oil alone)?
Nigeria is 170 million.
Without a sound industrial and export based economy, there is no way Nigeria's reserves can ever increase.
tell us [size=14pt]what [/size]your candidate did as a military dictator in the early 80s to position Nigeria for industrialization.
If Buhari failed to move mountains with a handful of soldiers at his total control through military command in the supreme military council,
how can he control the over 500 thieves masquerading as politicians in Abuja?
you people keep trying to repackage shit in new dressings and adding perfume!

kolaaderin:


Product of failed education. Dont u know NDA is a degree awarding Institution only that they are tailored to the field of national defense,
my friend get a refund of fees from where ever u have ur certificates, they have done more harm to ur faculty.

oga sir I think its you that should go and get a refund for your fees...The time Buhari attended NDA it was NOT a degree awarding institution

relchange:


ogbeni $70 billion Naira is not enough to support the Naira. While you are pondering this, please tell us [size=14pt]how[/size] your candidate Buhari can increase our forex reserves. is it by decreeing an increase in oil prices (keep in mind that Nigeria's forex is generated by oil alone)?
Nigeria is 170 million.
Without a sound industrial and export based economy, there is no way Nigeria's reserves can ever increase.
tell us [size=14pt]what [/size]your candidate did as a military dictator in the early 80s to position Nigeria for industrialization.
If Buhari failed to move mountains with a handful of soldiers at his total control through military command in the supreme military council,
how can he control the over 500 thieves masquerading as politicians in Abuja?
you people keep trying to repackage shit in new dressings and adding perfume!

Gbam

When you see analysis here you'll be tempted to appoint them SA on financial matters.

relchange:


ogbeni $70 billion is not enough to support the Naira. While you are pondering this,

Oga, this is a very easy question to answer. The external reserve has been used to support the naira by the last 3 CBN Governors successfully with the reserve being generally between $40 - $45 billion. I think you completely missed the point I was making.

Olaolufred:


SO YOU ARE NOT TOLD THAT NDA IS A DEGREE AWARDING INSTITUTION?

Stop telling lies. NDA of Buhari's days (1962 - 1964/5) was equivalent to a Certificate awarding Institute. That was when Buhari and others attended NDA. See History below in RED. The institution was upgraded to a Degree awarding status in 1985. Though he was said to have attended some courses (workshops and seminars) in UK and India, unfortunately for Buhari, while others improved themselves to obtain PSS, etc, Buhari has no record of additional academic qualification since leaving NDA.


History

The Nigerian Defence Academy, the premier officer cadets training institution was established in January 1964 in response to the needs of independent Nigeria. In the beginning, the qualification attained in academic pursuit was the Nigerian Defence Academy certificate of Education (NDACE) moderated then by University of Ibadan. The Academy was upgraded to a degree awarding institution in 1985. With this development, the course duration was increased from three (3) to five years; 4 years for academic and one (1) year for purely military training. The cadets of the 36 Regular Course commenced the degree programme leading to the award of Bachelor’s degree.

History was one of the five programmes established at the beginning of 1985/86 Academic year, under the new status as a degree awarding institution. The Department started with fifteen cadets. Pioneer staff of the Department included Dr LO Ammadi, Dr OE Tangban, Dr AE Ekoko, and Professor CN Ubah. Gradually the number of academic and administrative staff grew to current strength of sixteen and six respectively. The Department now has the highest number of professors in the Academy. It has graduated over 100 commissioned officers for all the three services of the Nigerian Armed Forces.

ducii:


I am not a Politician, but I think Buhari has been President before, so he might be different from Da Silva in that aspect.

About Brazil what i am saying is that Da Silva introduced a lot of welfare programmes that were not sustainable, because Brazil's Economy boomed the welfare programmes he created were paid for, but as soon as the credit crunch hit most of the programmes Brazil could not afford anymore.
China did a better job in taking people out of poverty than Brazil did.

then why the argument since you agreed that da silva took brazil out of the poverty range. Jonathan has just taken nigeria down the poverty index region. What a shame!

ducii:


Because you are not getting the point, we did not stop defending the Naira, because we did not have money to defend it, why can't you understand this simple logic, we stopped defending the Naira because that strategy was not working, so even if we had $100billion we would still have devalued the Naira. The money is not the issue but the strategy was not working. China devalues their currency but they have $2trillion in their Foreign reserves why do you think they don't continue to defend the Chinese yuan, the money is not the issue but the strategy. I don't know how to explain it to you anymore.

Saudi Arabia had to deep hands in their reserve of $750b to defend the ryal, first time in 5yrs, why??

Russia lamented that their economy will bounce back in 2yrs, time enough to stock reserves to defend their devalued Rouble why??

If with these examples you don't know that your reserves defend your currency in times like this, then you should refund your school fees and send a Christmas hamper to Ndu chuks for assisting your failed education.

most of you here have not got the least knowledge to speak in public, petty local champions who think their opinion count for anything.

This is what Sanusi your former CBN gov said is the duty of the reserves.

"" He said he hoped a parliamentary
investigation would also find out why
the country's Excess Crude Account
had fallen from $11.5bn to under $
2.5bn in a year - arguing that
Nigeria's savings are a vital buffer
against any drop in the global oil
price and without this "rainy day"
account, the economy is vulnerable
and exposed""

source: BBC

Go to a good school because for now, you are too empty to speak in public.
Thank Ndu chuks later

ducii:


Don't make it a Jonathan thing. it is a problem with most emerging economies. Nigeria has even done a better job in managing our currency.

If you look at some country's currency you will marvel

opinion of the deluded, do you have any idea how much in revenue this country has earned?

customized13:
Apcist are illiterates, go and see why Russian currency is also collapsing. Smh

Correct, the Russian Rouble has fallen by over 45% against the dollar as at yesterday. The Brazilan and Indonesian currencies down by 13% against the dollar. I guess it is Jonathan and PDP's fault as well. Most emerging economies including those not built on oil are struggling so it's not peculiar to Nigeria alone. The govt however is working to stem the tide by diversifying the economy to make it less dependent on oil. Different non oil sector sectors are being boosted to drive the diverification agenda.

nduchucks:


To be frank with you, I don't give rat's asse about how the currency of the M.I.N.T countries is faring. What is glaring is that, the Naira could have survived this period of falling oil prices, if the clueless one and his thieving apostles were not at the helms of power.

I'm afraid your excuse itself is inexcusable.

Does that Guy even know that OBJ's $48b savings saved us from the 2004 crude oil price drop?

If every administration should devalue the naira at the very least economic down turn, why do we need people to manage our economy?

Refer him to Soludo's congressional address of 2004 so he will understand the buffer the government put in place then.

ducii:


Because you are not getting the point, we did not stop defending the Naira, because we did not have money to defend it, why can't you understand this simple logic, we stopped defending the Naira because that strategy was not working, so even if we had $100billion we would still have devalued the Naira. The money is not the issue but the strategy was not working. China devalues their currency but they have $2trillion in their Foreign reserves why do you think they don't continue to defend the Chinese yuan, the money is not the issue but the strategy. I don't know how to explain it to you anymore.

Are you this dumb? Chinese export economy VS Nigerian import oil dependant economy, lol

Please which roofless school released you on bail?

APContherun:

Correct, the Russian Rouble has fallen by over 45% against the dollar as at yesterday. The Brazilan and Indonesian currencies down by 13% against the dollar. I guess it is Jonathan and PDP's fault as well. Most emerging economies including those not built on oil are struggling so it's not peculiar to Nigeria alone. The govt however is working to stem the tide by diversifying the economy to make it less dependent on oil. Different non oil sector sectors are being boosted to drive the diverification agenda.

leave them, let them all wallow in ignorance and illiteracy.