Soon we will realise how foolish we were to believe that a dictator could transform into a democrat or that the economic theories of the 1980s could solve problems in 2016. Let's keep watching.

Buhari's buttocks seems so cool on hot seats.

drss:
devaluation is d only solution to free up pressure on d naira, but because buari dullard promised to make N1 = $1, he wont do it. Buari has boxed himself into a corner. dis man no know economics at all.

We devalued the naira late 2014 and again early 2015, did it free up pressure on the naira? Abeg, carry all these textbook nonsense go exam hall or IMF. Who devaluation don help?

I fully support Buhari on this. The foreign investors that will not come are the portfolio investors. They do not add any value to the real economy. They do not create jobs, build infrastructure, etc. Real investors will come, because they know they will get huge returns for their investments. By refusing to devalue the naira, those who have legitimate needs for FX will get it at a cheaper rate from CBN. If you want to import champagne, christian louboutin, etc you can go a source for your FX from wherever. Nigerians needs to start looking inwards. Buy locally made goods. People complaining about this policy are doing so for selfish reasons. Who cares if a 'charge and bail' investor cannot get FX to outflow his money? I beg make dem go sidon.

Image123:


We devalued the naira late 2014 and again early 2015, did it free up pressure on the naira? Abeg, carry all these textbook nonsense go exam hall or IMF. Who devaluation don help?

True talk bro. Devaulation only pays an export based economy. Imagine those importers crying 'mogbe' are exporters. Will they complain? Bunch of jokers. Importers do not create any value, they are desperate opportunists. If they are truly good business men and women, by now, they would have started looking for things to export to take advantage of this dollar situation.

McLuhan:
Soon we will realise how foolish we were to believe that a dictator could transform into a democrat or that the economic theories of the 1980s could solve problems in 2016. Let's keep watching.

The only regret will be not to have elected him sooner.

temitopeadeyemo:


The only regret will be not to have elected him sooner.

I wish you the best of luck. Let's all hope that publications like the Financial Times and the Guardian, which have said that our current government has no discernible economic policy, are all wrong. Otherwise, the consequences for many Nigerians might not be very pleasant.

airsaylongcon:
1984 all over. When my parents had to queue for essenco. While I do not support devaluation, I think the govt should let the Naira devalue to N250 then defend that value to the death. Buhari means well on this (and I am anti buhari) but seizing reins at d CBN is not the way. During the campaigns Obasanjo said Buhari will be top notch on corruption but clueless about economics. Hate him or love him ebora owu was right

What is special about N250 to $1? 250 a magic number? If you want naira to fall, then let it fall. If you want its value maintained forcedly, let it be.

hero2000:


What is special about N250 to $1? 250 a magic number? If you want naira to fall, then let it fall. If you want its value maintained forcedly, let it be.

My calculations suggest that N250 is the actual (fair) value of the naira. At 250 or figures around it, the impact of devaluation will not badly hit the populace. Holding it artificially high and the street value will continue yo soar.

lionness:
I dont know why we cant just keep printing cash (I mean in a way we are about the ONLY person who knows we are doing this. America does this all the time without anyone knowing...why does Bubu have to watch our economy tank without doing something about it"

If he prints more cash, it will cause inflation. It's not advisable to d economy currently.

Pls let us just be Sincear to our self, if naira is devalued prices of things in d market will go high, cost of building materials, even a bag of rice will not be affordable for d average Nigerian, there will be so much inflation because most of d things we use to sustain here in Nigeria are imported, if is a good policy why is America not devaluing thier own dollar?Or UK devalue thier pounds but they keep decieving us, so that d common Nigerians keep suffering, Pls devaluing our currency will bring inflation, like I deal on plumbing materials, d price of all d plumbing materials has increased double how can d common Nigerian been able to afford it and build? Buhari dont kill d poor nigerians just for ur own gain, where is d one naira to a dollar u promised? they should stop fooling us, he knows d truth but immediately they are been elected to power they become very wicked and forget d poor masses, I will not make mistake to vote this apc chain nigeria

temitopeadeyemo:


True talk bro. Devaulation only pays an export based economy. Imagine those importers crying 'mogbe' are exporters. Will they complain? Bunch of jokers. Importers do not create any value, they are desperate opportunists. If they are truly good business men and women, by now, they would have started looking for things to export to take advantage of this dollar situation.

I remember when one dollar is equivalent to one naira, if u are buying a Volkswagen car, tear rubber is d same amount u purchase with our naira, d western countries they value our naira, why can't we see how we can make it better like d old time than killing our own currency, pls think well, don't be selfish

OrlandoOwoh:

Even an SS2 student knows that printing more money would lead to deflation.

OrlandoOwoh:

Even an SS2 student knows that printing more money would lead to deflation.

Not deflation but inflation

MagicBishop:




[size=18pt]The Useful Idi0ts[/size]

The last election witnessed the highest voter turnout among young people especially university students.

This was a feat made possible due to the exploitation of social media by the APC targeting the youth which was made possible by the widespread proliferation of smart phones and Internet enabled phone technology among this demograph.

The youths desire to participate in the elections was also largely due to the reformation and strengthening of the electoral body by the last administration which gave the youth a sense of confidence for the first time in their votes.

The youths not only voted but took to campaigning for their candidate and also involved in one form of volunteerism on behalf of their APC.

The delusion of participating in an epoch changing event where their roles were vital and recognised by the politicians gave them a false sense of worth.

This is not unique to Nigeria and it's APC followers but is a reoccurring phenomenon across the west, where newly culturally enriched college kids dump their traditional childhood upbringing and beliefs to embrace vague political ideologies and respective political parties.

For the first time these young college kids, like every newly inducted d novice believed they can and ought to do more to spread the word on their new political ideology which replaces any religious view of their upbringing.

The college student even though bugged down by class work, several low paying jobs and extra curricula college activities will some how find time to sign up as a volunteer for one political candidate or cause.

Before graduating his or her zeal will wear out after finding the system is all rigged not to better society but to further the career ambitions of greedy selfish politicians.

By the time the student finally graduates and gets a job with his degree, he will find out there is more to life than useless politics and from there their zeal dies only to be rekindled in future when they begin to experience mid life crisis.

As for our hatchling APC zombies, they didn't have to wait till they leave school as Buhari and the APC made no time or effort setting out to achieve what they promised and have even come out to deny they ever campaigned on such. This is 101 Politriks that they will never forget in a hurry!

Most of them are now delusional about what change actually means but there still remain a few stubborn fanatics who refuse to let go and are still displaying symptoms of change fever. This minority category are those to whom the elections made a lasting impact on them. I want to believe they got a rush to the head from the elections climaxing during the counting of votes and announcement of their candidate as the winner. To them the elections filled a void for good entertainment just like the world cup and just like Yuri Bezmenov aptly described these "Useful idi0ts" who are easily prone to propaganda as suffering from inferiority complex, these die hard zombies without benefit keep up to date with latest propaganda to fill their empty lives. You will find them here on NL daily posting on "our money" and Dasukigate.

https://www.nairaland.com/2898349/dealing-useful-idi0t-how-reformart

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You should also take over the CIA.......u just too good