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Naira Depreciates Further At Parallel Market- ( pic) - Business (2) - Nairaland

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Re: Naira Depreciates Further At Parallel Market- ( pic) by yorke1: 6:08am On Oct 06, 2015
No clear direction. Blind man leading the nation

6 Likes

Re: Naira Depreciates Further At Parallel Market- ( pic) by bobo65(m): 6:09am On Oct 06, 2015
Buhari I know u r taking things one step at a time but the way things are going, $1 fit be #1000, by that time, there won't b money at all for even the ppl u r fighting for to use for survival, abeg try touch economy side

1 Like 1 Share

Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:09am On Oct 06, 2015
Zi:
Uncle Bubu, how far?

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:10am On Oct 06, 2015
Zi:
Uncle Bubu, how far?

Nothing to do with who is in Aso Rock,and everything to do with the fall in our dollar revenue.
Re: Naira Depreciates Further At Parallel Market- ( pic) by bobo65(m): 6:13am On Oct 06, 2015
bushdoc9919:


Nothing to do with who is in Aso Rock,and everything to do with the fall in our dollar revenue.

Wah is this one saying

Buhari is the minister of petrol
Nigerians main source of wealth is petroleum
Once there is less petrol there is less demand for naira and less demand of naira leads to fall in its value
Any other question?

8 Likes

Re: Naira Depreciates Further At Parallel Market- ( pic) by bobo65(m): 6:14am On Oct 06, 2015
justi4jesu:
I comment my reserve

As if say e no dey favour u grin grin grin
Re: Naira Depreciates Further At Parallel Market- ( pic) by passionate88: 6:15am On Oct 06, 2015
Buhari don kill Nigerians. I hope those 'change' chanters are seeing what is happening to our dear nation Nigeria? .

8 Likes

Re: Naira Depreciates Further At Parallel Market- ( pic) by justi4jesu(f): 6:20am On Oct 06, 2015
bobo65:


As if say e no dey favour u grin grin grin


Bobo go and sleep cheesy tongue
Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:27am On Oct 06, 2015
bobo65:


Wah is this one saying

You'll find out.

Buhari is the minister of petrol
Nigerians main source of wealth is petroleum
Once there is less petrol there is less demand for naira and less demand of naira leads to fall in its value
Any other question?

grin

1.The price of oil on the international market has fallen from $140 in July 2014 to $47 now.

2.As a result, we do not have enough dollars to buffer up the value of the naira

3.Hence the naira value falls drastically

4.Which is why, if you have been following my posts., I am an advocate for Nigeria not being an oil dependent country...and being an industrial society.

5.Which is why I advocate that Buhari resuscitate Ajaokuta, improve power supply and save money by removing subsides, and tightening the belts. Because....we no longer have the money thanks to the fall in oil price. We must all work harder

6.And I would say the same if PDP was still in charge.

1 Like 1 Share

Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:34am On Oct 06, 2015
passionate88:
Buhari don kill Nigerians. I hope those 'change' chanters are seeing what is happening to our dear nation Nigeria? .

No.....oil prices have fallen....meaning that we do not have the dollars to buffer the naira....hence the fall in the value of the naira and the hoarding of dollars by CBN governor.

The same thing would have happened if GEJ was still in charge. (And I probably would be angry with him, but my anger would be pointless...as you will soon see).

Truth be told, we have to get off our oil dependency. And what I want to see from Buhari is increased spending on rail, power, and electricty, and end to subsidies, a strong war on corruption, not just in PDP, but APC AND everywhere, and high investment in techincal education with the aim of getting Nigeria off oil dependency (So that we can do resource control).

I also want serious minded governors.

So....is PMB going to get us off oil? That is what we should be judging him on, not on naira falling per se.

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by bobo65(m): 6:35am On Oct 06, 2015
U get point but saudi Arabia is not going thru this sorta devaluation na
bushdoc9919:


You'll find out.



grin

1.The price of oil on the international market has fallen from $140 in July 2014 to $47 now.

2.As a result, we do not have enough dollars to buffer up the value of the naira

3.Hence the naira value falls drastically

4.Which is why, if you have been following my posts., I am an advocate for Nigeria not being an oil dependent country...and being an industrial society.

5.Which is why I advocate that Buhari resuscitate Ajaokuta, improve power supply and save money by removing subsides, and tightening the belts. Because....we no longer have the money thanks to the fall in oil price. We must all work harder

6.And I would say the same if PDP was still in charge.

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by wordbank(m): 6:37am On Oct 06, 2015
The official interbank rate when I checked yesterday was N199.05
Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:38am On Oct 06, 2015
bobo65:
Buhari I know u r taking things one step at a time but the way things are going, $1 fit be #1000, by that time, there won't b money at all for even the ppl u r fighting for to use for survival, abeg try touch economy side

For now...the best we can do is what the CBN is doing...hoarding money ie dollars....to buffer the naria.

Thanks to the fall in oil prices, we do not have enough dollars to buffer the naira....hence the fall in value.

Long term, we may have to remove subsidies, and end government waste....and industrialise....to get the value of the naora up again
Re: Naira Depreciates Further At Parallel Market- ( pic) by wildchild1: 6:39am On Oct 06, 2015
Mallam make una go bring all the $$$ wey una don go keep fo house come out oo grin


in other news,order your football jerseys
https://www.nairaland.com/2447345/2015-2016-new-jerseys-available/4

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by erico2k2(m): 6:41am On Oct 06, 2015
tpiander:
hope it appreciates at some point.
Don't worry Baba body language will solve this problem

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:43am On Oct 06, 2015
bobo65:
U get point but saudi Arabia is not going thru this sorta devaluation na

Some major differences between Saudi and us

1.Saudi has less than 12 million people, Nigeria has 170 million people

2.Saudi is the world leader in oil production, Nigeria is no 8.

3.As a result of 1 and 2 , Saudi saved $700bn in its crude account. Nigeria saved far less than that.....even during Yaradua's time.

4.Even then, Saudi is seriously worried. The money in its account is going down, and as a result. they are raising VAT and considering removing their subsidy on fuel. Even the rich also cry in this oil reduction show.

2 Likes

Re: Naira Depreciates Further At Parallel Market- ( pic) by erico2k2(m): 6:43am On Oct 06, 2015
bushdoc9919:


For now...the best we can do is what the CBN is doing...hoarding money ie dollars....to buffer the naria.

Thanks to the fall in oil prices, we do not have enough dollars to buffer the naira....hence the fall in value.

Long term, we may have to remove subsidies, and end government waste....and industrialise....to get the value of the naora up again
Na lie we nor gree.don't end no subsidy. We would have gone past that if everyone support GEJ to end it.
Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:47am On Oct 06, 2015
erico2k2:

Na lie we nor gree.don't end no subsidy. We would have gone past that if everyone support GEJ to end it.

Basic problem why Nigerians opposed subsidy.....people could not see beyond cheap fuel (It was not because people did not like GEJ...people do not want to pay N200 per liter for fuel/PMS).

But the subsidy has to go. (Yes....even PDP opponents like me see the need for it to go)....especially now that we do not have the money to fund it.Even if it means paying N250 per liter for fuel.

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by 01mcfadden(m): 6:50am On Oct 06, 2015
1naira will soon be equivalent to 1dollar...keep calm and relax.

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by passionate88: 6:56am On Oct 06, 2015
bushdoc9919:


No.....oil prices have fallen....meaning that we do not have the dollars to buffer the naira....hence the fall in the value of the naira and the hoarding of dollars by CBN governor.

The same thing would have happened if GEJ was still in charge. (And I probably would be angry with him, but my anger would be pointless...as you will soon see).

Truth be told, we have to get off our oil dependency. And what I want to see from Buhari is increased spending on rail, power, and electricty, and end to subsidies, a strong war on corruption, not just in PDP, but APC AND everywhere, and high investment in techincal education with the aim of getting Nigeria off oil dependency (So that we can do resource control).

I also want serious minded governors.

So....is PMB going to get us off oil? That is what we should be judging him on, not on naira falling per se.
You tried. But I remember this monicker saying/typing all sorts of miracles that GMB will perform upon entering the sit.

3 Likes

Re: Naira Depreciates Further At Parallel Market- ( pic) by passionate88: 6:57am On Oct 06, 2015
bushdoc9919:


Basic problem why Nigerians opposed subsidy.....people could not see beyond cheap fuel (It was not because people did not like GEJ...people do not want to pay N200 per liter for fuel/PMS).

But the subsidy has to go. (Yes....even PDP opponents like me see the need for it to go)....especially now that we do not have the money to fund it.Even if it means paying N250 per liter for fuel.
Did you support this then?. I mean vocally and or orally?

2 Likes

Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:58am On Oct 06, 2015
passionate88:
You tried. But I remember this monicker saying/typing all sorts of miracles that GMB will perform upon entering the sit.

Sorry....you have the wrong person.

My loyalty is to Nigeria and its peoples, North and South...not to your politicians of the PDP and APC.

And my view of Nigeria's economic development is still the same...Nigeria must get off oil.
Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 6:58am On Oct 06, 2015
ragiluhivo:
Nigeria is doomed
ure d only one doomed
Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 7:01am On Oct 06, 2015
passionate88:
Did you support this then?. I mean vocally and or orally?

I was not on Nairaland then (2012)....but I understood the arguments for removing subsidy.

The subsidy argument has been on for a long time. (Back in 1993....it was a hot topic). But by 2012....I clearly ad completely understood it.

The problem is....most Nigerians do not want to pay high price for fuel at the pump....even if you showed them clearly the savings that they would make from the removal of the subsidy.

I also advocate for the removal of subsidy on school fees in universities (which has made me a pariah among some here !).

Oil subsidy has to go. We don't have the money now. .....or even then. Nigeria is not a rich country...
Re: Naira Depreciates Further At Parallel Market- ( pic) by Ask4bigneyo(m): 7:02am On Oct 06, 2015
justi4jesu:
I comment my reserve
Re: Naira Depreciates Further At Parallel Market- ( pic) by LastSurvivor: 7:04am On Oct 06, 2015
When will this Daura President make #1 half equal to 1usd. Half equal 1st
Re: Naira Depreciates Further At Parallel Market- ( pic) by otil1: 7:05am On Oct 06, 2015
Dauranomics cheesy

LastSurvivor:
When will this Daura President make #1 half equal to 1usd. Half equal 1st
Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 7:08am On Oct 06, 2015
LastSurvivor:
When will this Daura President make #1 half equal to 1usd. Half equal 1st

When you lazy Nigerians stop tolerating corruption, stop thinking that oil money will save you, and start working on making your states, LG and Nigeria as a whole a self sufficent industrial economy...by putting pressure on Abuja and your local leaders.

The era of selling oil, groundnut, palm oil and cocoa to make money to share for imports is over. Time we worked for our money.

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by 01mcfadden(m): 7:09am On Oct 06, 2015
Sweetcollins:
Jesu!...I wiry mek 1nira ikwolu to 1 dolla
Another mission impossible!
and still counting. grin
Re: Naira Depreciates Further At Parallel Market- ( pic) by LastSurvivor: 7:24am On Oct 06, 2015
bushdoc9919:


When you lazy Nigerians stop tolerating corruption, stop thinking that oil money will save you, and start working on making your states, LG and Nigeria as a whole a self sufficent industrial economy...by putting pressure on Abuja and your local leaders.

The era of selling oil, groundnut, palm oil and cocoa to make money to share for imports is over. Time we worked for our money.

Am talking about fulfilling HALF of a promise he made, have I not be I magnanimous enough.. or was he on gun point b4 he made such promises. what is ur Messiah doing to diversify the economy as u said. absolutely nothing..
meanwhile I am a self made Igbo Boi who probably earns more than u..

1 Like

Re: Naira Depreciates Further At Parallel Market- ( pic) by Nobody: 7:26am On Oct 06, 2015
LastSurvivor:


Am talking about fulfilling HALF of a promise he made, have I not be I magnanimous enough.. or was him on gun point b4 he made such promises.

Yes...hence the bit about putting pressure in my original post


meanwhile I am a self made Igbo Boi who probably earns more than u..

That's wonderful, but totally irrelevant to our discussion.
Re: Naira Depreciates Further At Parallel Market- ( pic) by Franky9584(m): 7:26am On Oct 06, 2015
shey Buhari dey hear all dis? he told us he will mk #1=$1 during his campaign days all politicians are d same

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