This morning I heard one of the dumbest things from candidate Buhari, he wants to use "military fiat" to peg the exchange rate of the naira to the dollar. He does not understand what is called deregulation and market forces. The same Buhari wants to establish 4 refineries at a time governments all over the world are leaving direct running of businesses to the private sector by creating the enabling environments. He wants to pay N5,000 a month to 45 Million unemployed Nigerians. At the same time he wants to reduce tariffs on imported vehicles to encourage imports and kill the rejuvenated local vehicle assembly plants. This man is leaving in stone age and dumb. He does not understand the dynamics of the modern economy. He is taking Nigeria backward.

LEGAL1000:
This morning I heard one of the dumbest things from candidate Buhari, he wants to use "military fiat" to peg the exchange rate of the naira to the dollar. He does not understand what is called deregulation and market forces. The same Buhari wants to establish 4 refineries at a time governments all over the world are leaving direct running of businesses to the private sector by creating the enabling environments. He wants to pay N5,000 a month to 45 Million unemployed Nigerians. At the same time he wants to reduce tariffs on imported vehicles to encourage imports and kill the rejuvenated local vehicle assembly plants. This man is leaving in stone age and dumb. He does not understand the dynamics of the modern economy. He is taking Nigeria backward.

Wait until his dumber minions comes around to scream 'sai' and 'change ' like some bunch of deranged fellows.

A vote for Buhari is a vote for backwardness.PERIOD.

LEGAL1000:
This morning I heard one of the dumbest things from candidate Buhari, he wants to use "military fiat" to peg the exchange rate of the naira to the dollar. He does not understand what is called deregulation and market forces. The same Buhari wants to establish 4 refineries at a time governments all over the world are leaving direct running of businesses to the private sector by creating the enabling environments. He wants to pay N5,000 a month to 45 Million unemployed Nigerians. At the same time he wants to reduce tariffs on imported vehicles to encourage imports and kill the rejuvenated local vehicle assembly plants. This man is leaving in stone age and dumb. He does not understand the dynamics of the modern economy. He is taking Nigeria backward.

If you have been a student of critical thinking ,you will have the idea of what he his talking about already.

Op...people like you would have reacted same way to martin luther kings dream...
U don't know about hope, determination and action plan.

Trust me, the value of Naira would sky rocket if we peg siphoning of loots, if we stabilise peace, if we promote our other mineral resources and if we embrace a conservative economy...in other words, rather than buy and buy woth the dollars, we either pay with the naira or with a much needed export commodity..

...so much can be done when you have the right minds in power...and that is why I believe it is possible....buhai's statement is in order...atleast..for positive thinking Nigerians anyway

Buhari did not say it. Just the same way the Sharia and Abacha not corrupt Propaganda started, a TAN journalist reported falsehood, it got published and spread. Below is Buhari's exact quote.

“It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’

Even when there was not a single quote to support the the lie, Vanguard went ahead to publish it. Very pathetic.

Buhari all the way. Corruption can fight all it like. Buhari is the next president of Nigeria.

How did Buhari intend to achieve this? Am just asking.

Oh please. Buhari don't get on my nerves. You just insulted the intelligence of those of us who had an A2 in economics. Nigeria is an oil dependent economy, a fall in our revenue due to fallen oil prices is one of the causes of the fallen value of the naira. Maybe the Arabians have promised him to compromise the price of oil back to 100 dollars. You see why we insisted you must get your certificate. We don't trust your social and economic judgement at all. For those asking for the source. Direct your anger to Vanguard. It is the last sentence in the first paragraph of the article. Vanguard not PDP or Jonah reported it. Stop insulting people who reacted to the statement. APC never again should you insult Peshy Jo (PEJ), she and Buhari are in the same category, always spewing blunders like a spring. Nigerians deserve everything that happens to them because of their blind support and sentiments.

LEGAL1000:
This morning I heard one of the dumbest things from candidate Buhari, he wants to use "military fiat" to peg the exchange rate of the naira to the dollar. He does not understand what is called deregulation and market forces. The same Buhari wants to establish 4 refineries at a time governments all over the world are leaving direct running of businesses to the private sector by creating the enabling environments. He wants to pay N5,000 a month to 45 Million unemployed Nigerians. At the same time he wants to reduce tariffs on imported vehicles to encourage imports and kill the rejuvenated local vehicle assembly plants. This man is leaving in stone age and dumb. He does not understand the dynamics of the modern economy. He is taking Nigeria backward.

ok o mr general,we believe u...atleast you should have attended d debates atleast to explian to us hw u intend doing it and stabalisng d world oil price lyk u said.

olas24u:



If you have been a student of critical thinking ,you will have the idea of what he his talking about already.

Mr critical thinker, kindly share with us in clear terms what he was talking. How does he intend to do it.... if you don't mind... enlighten us the dumb ones

Mr. Legal 1000 or whatever you call yourself, before we entertain anything else that you have to say, please first give us the exact quote of Buhari saying what you said he said. After that, we can discuss.

Flets:


Mr critical thinker, kindly share with us in clear terms what he was talking. How does he intend to do it.... if you don't mind... enlighten us the dumb ones

i was just saying that ,you could actually think of many ways that he would be able to achieve it,and i have not fully read the comments,but probably it will be some monetary policy measures such as interest rates. Lower interest rates .This statements indicates one thing to me ,that we will have electricity ,he will concentrate on manufacturing increase tariffs on unnecessary and luxury goods.Or maybe they may probably remove the 2 zeros and 1 Naira will have the same previous value of 100.I am just assuming. And we also consume more of Chinese and Asian goods,so we don't have any business with this currency anymore.My thoughts are assumptions

WHAT DO YOU EXPECT FROM A MAN WHO HAS NO O'LEVEL

olas24u:


i was just saying that ,you could actually think of many ways that he would be able to achieve it,and i have not fully read the comments,but probably it will be some monetary policy measures such as interest rates. Lower interest rates .This statements indicates one thing to me ,that we will have electricity ,he will concentrate on manufacturing increase tariffs on unnecessary and luxury goods.Or maybe they may probably remove the 2 zeros and 1 Naira will have the same previous value of 100.I am just assuming. And we also consume more of Chinese and Asian goods,so we don't have any business with this currency anymore.My thoughts are assumptions

You made zero sense economically..... APC products hardly make sense.

How does all that add to your foreign exchange?
Increase tariff on manufactured luxury good you said, which locally produced luxury currently adds to our GDP?
And removing two zeroes sounds like an economic exercise to you rather than academic exercise?

I will advise any sai Buhari crusader that has any shame left to stay silent on this Buhari's gafe. Cos the more uou defend it, the more silly you sound.

Flets:


You made zero sense economically..... APC products hardly make sense.

How does all that add to your foreign exchange?
Increase tariff on manufactured luxury good you said, which locally produced luxury currently adds to our GDP?
And removing two zeroes sounds like an economic exercise to you rather than academic exercise?

I will advise any sai Buhari crusader that has any shame left to stay silent on this Buhari's gafe. Cos the more uou defend it, the more silly you sound.

Increasing tariffs on unnecessary goods reduces the pressure on your currency e.g Food imports such as rice ,removing the zeros was a plan that was suspended by OBJ ,so its possible ,it was a Soludo idea back ,and they did something similar in Ghana.

Flets:


You made zero sense economically..... APC products hardly make sense.

How does all that add to your foreign exchange?
Increase tariff on manufactured luxury good you said, which locally produced luxury currently adds to our GDP?
And removing two zeroes sounds like an economic exercise to you rather than academic exercise?

I will advise any sai Buhari crusader that has any shame left to stay silent on this Buhari's gafe. Cos the more uou defend it, the more silly you sound.

Increasing interest rates directly intervening, i said can assist the local currency ,you were quick to play politics in your statement,did you read when i said monetary policy interventions .why are you thinking its impossible.

olas24u:


i was just saying that ,you could actually think of many ways that he would be able to achieve it,and i have not fully read the comments,but probably it will be some monetary policy measures such as interest rates. Lower interest rates .This statements indicates one thing to me ,that we will have electricity ,he will concentrate on manufacturing increase tariffs on unnecessary and luxury goods.Or maybe they may probably remove the 2 zeros and 1 Naira will have the same previous value of 100.I am just assuming. And we also consume more of Chinese and Asian goods,so we don't have any business with this currency anymore.My thoughts are assumptions

ur a quack

quickly:



ur a quack

They are assumptions ,i still have some more ideas

olas24u:


Increasing interest rates directly intervening, i said can assist the local currency ,you were quick to play politics in your statement,did you read when i said monetary policy interventions .why are you thinking its impossible.

No need for going around in circles. Let me educate you. Local activities alone cannot equate naira to dollar

As at 2013 USA GDP stood at 16.8 trillion dollars while that of Nigeria stood at 521 billion dollars. That is 32 times that of Nigeria.

Until we start producing 3200% of what we produce today at a minimum. ... we can only dream about equating naira to dollar.

So quit the argument.

Flets:


No need for going around in circles. Let me educate you. Local activities alone cannot equate naira to dollar

As at 2013 USA GDP stood at 16.8 trillion dollars while that of Nigeria stood at 521 billion dollars. That is 32 times that of Nigeria.

Until we start producing 3200% of what we produce today at a minimum. ... we can only dream about equating naira to dollar.

So quit the argument.

That is one sided argument and you don't need to compare the U.s economy and the Nigerian economy.You are indirectly saying what am saying in another way.so you have not said anything new.I spoke about production , and you spoke of GDP .Is GDP not the total productivity in the country.You can put the refineries to work and reduce areas that take away a large junk of your foreign exchange .it will support the local currency .You have not said anything new at all,There are example of countries with strong currencies .Increase export activities will be very important in strengthening the Naira

Flets:


You made zero sense economically..... APC products hardly make sense.

How does all that add to your foreign exchange?
Increase tariff on manufactured luxury good you said, which locally produced luxury currently adds to our GDP?
And removing two zeroes sounds like an economic exercise to you rather than academic exercise?

I will advise any sai Buhari crusader that has any shame left to stay silent on this Buhari's gafe. Cos the more uou defend it, the more silly you sound.

.

olas24u:


i was just saying that ,you could actually think of many ways that he would be able to achieve it,and i have not fully read the comments,but probably it will be some monetary policy measures such as interest rates. Lower interest rates .This statements indicates one thing to me ,that we will have electricity ,he will concentrate on manufacturing increase tariffs on unnecessary and luxury goods.Or maybe they may probably remove the 2 zeros and 1 Naira will have the same previous value of 100.I am just assuming. And we also consume more of Chinese and Asian goods,so we don't have any business with this currency anymore.My thoughts are assumptions

try and read up macro economic by Jehigan, you seems to be poor on economics terms.

IVORY2009:


try and read up macro economic by Jehigan, you seems to be poor on economics terms.

Developing countries that have stronger currencies do so by driving export and boosting the local economy through production of goods and services why the central banks intervene using monetary policies to assist and one of such is interest rates ,why are you directing me to a book,when we can see examples from Asia and even recently Libya an oil producing country.

IVORY2009:


try and read up macro economic by Jehigan, you seems to be poor on economics terms.

Norwegian Krone
American Dollar
Hong Kong Dollar
Euro
Swedish Krone
Japanese Yen
British Pound
Swiss Franc
Australian Dollar
Canadian Dollar

what are they all doing that we can never do

olas24u:

Norwegian Krone
American Dollar
Hong Kong Dollar
Euro
Swedish Krone
Japanese Yen
British Pound
Swiss Franc
Australian Dollar
Canadian Dollar

what are they all doing that we can never do

how can you compare a developed country with a developing country like Nigeria, this is the reason while I said you should read macro economics, and I respected you to be discussing stuff like Purchasing Power Parity [PPP], Official Intervention, Economic Health and Intrest rate etc

IVORY2009:


try and read up macro economic by Jehigan, you seems to be poor on economics terms.

There are a few things that a country can do to make the currency stronger. The problem is that you can't change one variable in isolation without affecting other aspects of the economy so it depends on the particular circumstances of the country as to what is the best course of action. Generally speaking though you need to take steps to either attract investors or at a fundamental level improve the export base (ie exchange rates change due to fundamentals and not monetary policy).

The first thing to do though to make the currency stronger, is to stop/slow any form of devaluing the currency through printing money. Next, if you have a reasonable cushion, you sell off foreign currency reserves and buy back your own currency. Third, if your economy can handle it, you raise interest rates to draw foreign investors (this will hurt the various forms of debtors in society though). Fourth, you fill in any gaps with a convincing bluff (investors aren't pushovers or fools though).

The question of why you would make a currency stronger is a valid question. It's much easier to make a currency weaker than it is to make it stronger. Generally speaking, you don't want to strengthen or weaken your currency very fast under normal conditions. If a country is attempting to strengthen their currency it likely means that it's dropping in value quickly (investors are fleeing either due to circumstances in that country or due to better opportunities elsewhere) and in order to keep money in the country and prices steady the government has to take actions to stabilize the currency. Remember, a stronger currency hurts exports (important for jobs) but helps imports (think low priced goods at Walmart). If you attempt to do much more than smooth out the spikes in exchange rates/stop a situation from escalating you'll likely hurt some other part of the economy such as the unemployment rate or homeowners with mortgages.

Source Michael Kosh

IVORY2009:


how can you compare a developed country with a developing country like, this is the reason while I said you should read macro economics, and I respected you to be discussing stuff like Purchasing Power Parity [PPP], Official Intervention, Economic Health and Intrest rate etc

Export ,increasing local production and manufacturing for export will boost exchange rate ,i am so sure of what am saying

IVORY2009:


how can you compare a developed country with a developing country like Nigeria, this is the reason while I said you should read macro economics, and I respected you to be discussing stuff like Purchasing Power Parity [PPP], Official Intervention, Economic Health and Intrest rate etc

This are most strongest currencies in the world. we dont need the text book ,we can bring examples from this countries

olas24u:



Export ,increasing local production and manufacturing for export will boost exchange rate ,i am so sure of what am saying

you are correct, but the measures to be put in place, dat is wat u could not explain.

olas24u:


That is one sided argument and you don't need to compare the U.s economy and the Nigerian economy.You are indirectly saying what am saying in another way.so you have not said anything new.I spoke about production , and you spoke of GDP .Is GDP not the total productivity in the country.You can put the refineries to work and reduce areas that take away a large junk of your foreign exchange .it will support the local currency .You have not said anything new at all,There are example of countries with strong currencies .Increase export activities will be very important in strengthening the Naira

What is GDP and what contributes to it?
What are the foreign exchange rate determinants?
What are the variables to a nation's economy?

You need some education but I can only do that at my pace

IVORY2009:


you are correct, but the measures to be put in place, dat is wat u could not explain.

You mean the monetary policies of government ?You will need to control liquidity in the system and customs are also very important to check the borders for fake currencies .You will need infrastructures that will assist the factors of production to help the cost of goods and services produced in the country to become cheap for export.You will attract investors to invest in the country ,capital will redirect itself towards one direction .we can go to Nnewi and Aba and see businesses that are powered by generator attracting people from west and central Africa.We can support them with electricity roads and airports including hotels .

Flets:


What is GDP and what contributes to it?
What are the foreign exchange rate determinants?
What are the variables to a nature's economy?

You need some education but I can only do that at my pace

You are asking basic questions and i will still answer it one by one and then i will now see if you mean its impossible to have a stronger naira or possible.

olas24u:


They are assumptions ,i still have some more ideas

Stop wastin ur tym explainin 2 dem, dey will just try nd frustrate u @d end .
Ur so much on point with all u av written so far