Recently, some PDP goons on this forum have been trying to imply that Buhari is damaging the naira. I just want to show a picture of how Buhari compares to Jonathan this year in terms of the naira vs USD.

Okay

Buhari- slow and steady. The graph says it all. Also, please note that GEJ lost the election in March, thus stopping the freefall of naira.

Who's dis dude above me?
It's ur 1 & only DKN Boss

Sai Buhari
PMB stabilizing Naira as promised during the electoral campaigns.
Jonathan sef

lalasticlala ohhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Would this bring food to my table? Or provide job for unemployed youth? Or restore s the zenith workers sacked cos of economic meltdown, or 60 k youth that lost their job in engineering sector? Nonsense!

SeverusSnape:
Okay

The road to 1 naira to dollar starts by first stabilizing the naira. Buhari is doing this very well.

merry02:
Would this bring food to my table? Or provide job for unemployed youth? Or restore s the zenith workers sacked cos of economic meltdown, or 60 k youth that lost their job in engineering sector? Nonsense!

Yes it will. What economic meltdown?

The artificial pricing of the naira with no corresponding supply by the CBN is not in any way a measure of a good economy.

Take the stock market for example which has wiped off close to 3 trillion naira since may 29. That should give you a good indicator of where the economy is heading.

olapluto:

The road to 1 naira to dollar starts by first stabilizing the naira. Buhari is doing this very well.

Yes it will. What economic meltdown?

Olodo.

The stock market has seen close to 3 trillion naira value erased since May 29.

WombRaiders:
The artificial pricing of the naira with no corresponding supply by the CBN is not in any way a measure of a good economy.

Take the stock market for example which has wiped off close to 3 trillion naira since may 29. That should give you a good indicator of where the economy is heading.

This is a comparative analysis my friend. Where was the economy heading under Jonathan? Buhari has quashed all the speculative indices and we are beginning to get a clearer picture of what the naira trully worths.

We are watching

what you are comparing is practically not aligned!
the naira is LITERARAILY BEING PEGGED AGAINST FALLING FURTHER which IS BEING ALLOWED TO FALL INITS ALTERNATE MARKET in a single regime and against aNAIRA CURRENCY reflecting its movement against other currencies in another regime!

olapluto:

This is a comparative analysis my friend. Where was the economy heading under Jonathan? Buhari has quashed all the speculative indices and we are beginning to get a clearer picture of what the naira trully worths.

you don't know what your naira is worth.what you are seeing is forex price controls against further devaluation.

Diz mumu kari forex pishure cum dey yeye himself 4here.. Mtchew!

baralatie:

you don't know what your naira is worth.what you are seeing is forex price controls against further devaluation.

So please what would have done given the circumstances we are in? Would you sit back and watch your currency collapse? And almost instantly impoverish 90% if your countrymen and women?

I want to understand your position before I rain causes on YOU or Emiefele & Buhari.

WombRaiders:
The artificial pricing of the naira with no corresponding supply by the CBN is not in any way a measure of a good economy.

Take the stock market for example which has wiped off close to 3 trillion naira since may 29. That should give you a good indicator of where the economy is heading.

The Naira has found some stability after our policy makers have introduced speculator- unfriendly policies. If you say the Naira exchange rate is artificial, that logic suggests that the stock market depreciation is also artificial thus cancelling out the exchange loss. So no problem. By the way what do you attribute the stock market depreciation to?

Everyone knows not to trust SW's with money. Even when their bank account is in the red, they will still borrow more to throw one more OWAMBE party. Hence this unintelligent thread.

Bubu is working ...

[size=20pt]Lwise !!![/size]

hinwazaka:
Everyone knows not to trust SW's with money. Even when their bank account is in the red, they will still borrow more to throw one more OWAMBE party. Hence this unintelligent thread.

If the SE is so great with money and economy, why do they troop to the "Zoo" to survive? And particularly YORUBALAND? Why are the biggest and proudest traders and conmercial gurus unable to bring common development to their land? Just asking.

ibedun:


So please what would have done given the circumstances we are in? Would you sit back and watch your currency collapse? And almost instantly impoverish 90% if your countrymen and women?

I want to understand your position before I rain causes on YOU or Emiefele & Buhari.

hahahahahaha!
please forgive my laughter!
it is early for anyone to go about rainning abusive words!



like I said no one knows what the naira is worth but WE can Tell where it will go(whether good or bad)in relation to another currency I.e the dollar.

Nigeria has The Naira but cannot use it to PAY for GOODS/SERVICES in the foreign markets.it has to be Done In the DOLLAR CURRENCY.
So for Nigeria to do business(irrespective of who is in Nigeria).it must have DOLLAR EARNINGS AS CASH DEPOSITS.

if Nigeria does not have DOLLARS.it means it is on its own and cannot do business or it will Borrow Dollars to pay with interests.

OK let us now see where the problem is!
1,Nigeria has dollars mainly from oil
2,Nigeria buys its cars,clothes, petrol,generators and holidays with dollars
3,Nigerian govt collects its loan from abroad in dollars
4,Nigerian govt is spending money to build light,road,airport,blah,blah and the work is increasing


then boom
5,Nigeria dollars reduce by half,oil money fall
6,everybody looking at each other looking for to blame and do nothing
7,CBN start blocking anything block able,leaves dollars for oil imports but every other import --- go find your own dollars
8,money investor see what is happening ,they step to one side

baralatie:

hahahahahaha!
please forgive my laughter!
it is early for anyone to go about rainning abusive words!



like I said no one knows what the naira is worth but WE can Tell where it will go(whether good or bad)in relation to another currency I.e the dollar.

Nigeria has The Naira but cannot use it to PAY for GOODS/SERVICES in the foreign markets.it has to be Done In the DOLLAR CURRENCY.
So for Nigeria to do business(irrespective of who is in Nigeria).it must have DOLLAR EARNINGS AS CASH DEPOSITS.

if Nigeria does not have DOLLARS.it means it is on its own and cannot do business or it will Borrow Dollars to pay with interests.

OK let us now see where the problem is!
1,Nigeria has dollars mainly from oil
2,Nigeria buys its cars,clothes, petrol,generators and holidays with dollars
3,Nigerian govt collects its loan from abroad in dollars
4,Nigerian govt is spending money to build light,road,airport,blah,blah and the work is increasing


then boom
5,Nigeria dollars reduce by half,oil money fall
6,everybody looking at each other looking for to blame and do nothing
7,CBN start blocking anything block able,leaves dollars for oil imports but every other import --- go find your own dollars
8,money investor see what is happening ,they step to one side

Thanks. In that case the government has correctly acted by doing No. 7 and stopping No. 2 & 3.

How would I respond to No. 8?
I will "YAKA" at the speculators and offer swaps to the true partner-in-development investors.

DaBullIT:
And some people will still condemn this flat line which is always better than the tumbling downwards

I bet one goat will come and ask when $1 will be #1 Nairal

If it does happen , tell them you need to crawl before you can jog

how long do you think the naira will hold against the pressure coming from all angles.
Nigeria needs a good economic team!

Buhari is a terrorist - El Rufai

Muhammadu WILLiam Buhari

ibedun:


Thanks. In that case the government has correctly acted by doing No. 7 and stopping No. 2 & 3.

How would I respond to No. 8?
I will "YAKA" to the speculators and offer swaps to the true partner-in-development investors.

aaarrghhh! I see
after you have "yaka" to the speculators who have the dollars.
how do you think multi billion dollar investor will now take you for or let me rephrase
if you "yaka" them well,well!how do you say "eku abo,ina kwana,ibooola chi to the multi billion dollar investor where they are being told Nigeria is broke.

baralatie:

aaarrghhh! I see
after you have "yaka" to the speculators who have the dollars.
how do you think multi billion dollar investor will now take you for or let me rephrase
if you "yaka" them well,well!how do you say "eku abo,ina kwana,ibooola chi to the multi billion dollar investor where they are being told Nigeria is broke.

My guy.....there is a clear difference between speculators and investors. Please read up on this and come back later. Thanks by the way.

ibedun:


My guy.....there is a clear difference between speculators and investors. Please read up on this and come back later. Thanks by the way.

investors are not coming because you are Nigeria.investors come because other investors are present good financials books about your economy.
that means they are watching your govt and if it is inactive and not able to solve liquidity.
well.....you want understand

merry02:
Would this bring food to my table? Or provide job for unemployed youth? Or restore s the zenith workers sacked cos of economic meltdown, or 60 k youth that lost their job in engineering sector? Nonsense!

Yes it will. The purchasing power of the naira in your pocket determines whether there'll be food on your table or not, and at what quantity and quality. So you better follow the news well. Same for provision for provision of jobs for unemployed youths, sacked workers etc

ibedun:


If the SE is so great with money and economy, why do they troop to the "Zoo" to survive? And particularly YORUBALAND? Why are the biggest and proudest traders and conmercial gurus unable to bring common development to their land? Just asking.

this is stale already. Tell us why osun and oyo is deep debt afta u all paraded fake IGR

le's not beat the drum yet,got plenty of time

ibedun:


If the SE is so great with money and economy, why do they troop to the "Zoo" to survive? And particularly YORUBALAND? Why are the biggest and proudest traders and conmercial gurus unable to bring common development to their land? Just asking.

It is that salient fact that makes them bankable. The jews, who are seen as shrewd and intelligent money managers only have a tenth of their population residing in Israel, their homeland. In fact, prior to the exodus back to their homeland in 1945-1949, it was even far less than that. The fact, that they have been able to make a successful business base, outside their home makes them more of a success than you. Hence the term LOCAL CHAMPION