Buhari first ever economic policy on returning as head of state was to impose restrictions on forex. The consequence of that policy is naira has been completely battered, why is that?
1.Buhari's policy means most multinationals simply relocated their fund. For a multinational company any policy that restricts it ability to do business is senseless.

2. Diaspora remittance which is pegged at $21 billion annually drastically reduced. The diaspora Nigeria see uncertainty and many simply decided to sit on their cash. Cities like Enugu have a substantial part of its economy sustained by remittance.

3. The fact that crude is receiving a battering did not help.

4. A lot of Nigerians relocated their foreign cash to private vaults.

5. New money in terms of new investment simply pulled back.

There are more reason but will restrict the discussion to 5 points above.

These five and other reasons meant dollar is scarce.

Solution
1. Buhari's government needs to lift the restrictions on forex trading. That policy only belong to the 80s when he was a military dictator.

2. If they want to stop the importation of certain commodities, why not use trade tariff?

3. Long term fix will be investing in infrastructure, education etc

the policy is the best for nw,

Sofisticate:
Buhari first ever economic policy on returning as head of state was to impose restrictions on forex. The consequence of that policy is naira has been completely battered, why is that?
1.Buhari's policy means most multinationals simply relocated their fund. For a multinational company any policy that restricts it ability to do business is senseless.

2. Diaspora remittance which is pegged at $21 billion annually drastically reduced. The diaspora Nigeria see uncertainty and many simply decided to sit on their cash. Cities like Enugu have a substantial part of its economy sustained by remittance.

3. The fact that crude is receiving a battering did not help.

4. A lot of Nigerians relocated their foreign cash to private vaults.

5. New money in terms of new investment simply pulled back.

There are more reason but will restrict the discussion to 5 points above.

These five and other reasons meant dollar is scarce.

Solution
1. Buhari's government needs to lift the restrictions on forex trading. That policy only belong to the 80s when he was a military dictator.

2. If they want to stop the importation of certain commodities, why not use trade tariff?

3. Long term fix will be investing in infrastructure, education etc

They denied saying;
They will make 1 naira equal to $1
They will stabilise crude oil prices
They will give the poor 5000 naira
They will provide free school meals

Sofisticate:
Buhari first ever economic policy on returning as head of state was to impose restrictions on forex. The consequence of that policy is naira has been completely battered, why is that?
1.Buhari's policy means most multinationals simply relocated their fund. For a multinational company any policy that restricts it ability to do business is senseless.

2. Diaspora remittance which is pegged at $21 billion annually drastically reduced. The diaspora Nigeria see uncertainty and many simply decided to sit on their cash. Cities like Enugu have a substantial part of its economy sustained by remittance.

3. The fact that crude is receiving a battering did not help.

4. A lot of Nigerians relocated their foreign cash to private vaults.

5. New money in terms of new investment simply pulled back.

There are more reason but will restrict the discussion to 5 points above.

These five and other reasons meant dollar is scarce.

Solution
1. Buhari's government needs to lift the restrictions on forex trading. That policy only belong to the 80s when he was a military dictator.

2. If they want to stop the importation of certain commodities, why not use trade tariff?

3. Long term fix will be investing in infrastructure, education etc

1. ....there are very many commentary on depreciation of ₦ nowadays expecially in parallel market, although parallel or black market can be manipulated by the traders, they either do it on their self interest, so those who doesn't beleive in the prosperity of nigeria can harbour $ as they can on imported goods hereby cause hike!
But in my own point of view the depreciation of ₦ is a great success to this nation if well manage to nigeria situation today. the looted fund is in $ and it must be refunded back in $, so if $1 is ₦198 when the money is looted, then if the money is refund today at $1 to ₦350 the nation has gained ₦152!
imagine if $1=₦1000, the gain is ₦902!
So in conclusion if the government managed to refund the $trillion looted and the refunded money, change it in parallel market, this will reduce the pressure on ₦ and the scarcity of $ in parallel market so the ₦=$.

(take note all the money took out of CBN during jonathan regime were changed in parallel market before ditributed)

you have other opinion?

2. ...2017 budget will beat record... ₦1 quadrillion!, all the social sectors will be substantially finance to trillions ₦, poverty will be completely eradicated and by the end of year 2018 Nigeria will be declared a developed state and classify one of the first three country in the index of human .
I know you will argue on how this can happen with the economics situation of today, low foreign reserve, low oil price, with depreciation of ₦.
yes oil price is down, foreign reserve is dry but we still have foreign looted fund reserve at hand! when recovered and well managed, it won't be problem to have money for this budget!
we can only pray that a $ hit ₦1000 and all $1 trillion looted recovered!
I know for sure that with the determination of this government and the support of foreign nation to help recovered all $ trillion looted it will happen.....$1 trillion recovered and change to ₦ will give us ₦1 quadrillion needed to financ that budget!
year 2017 bye bye to poverty!

3. ....OIL AND LFR
THE TWO MAIN MEANS OF INCOME FOR NIGERIA ECONOMY
.....with the determination of Nigeria president Buhari and the trust of of world leaders toward nigeria, from America, Eroupe, Asia and gulf nation the down price of oil and the rise in $ is not a corse to nigeria but a blessing.
Among the oil producing countries, and OPEC only nigeria have what other didn't, we have oil in common but nigeria have the looters as well, this opportunity raise nigeria above other oil nation and when all this country are frustrated with oil down price, nigeria have turn to her looted fund reserved to keep her economy running.
Nigeria is bless with oil and (LFR) looted fund reserve, when the oil price is down, the rise-up of dollar $ hike the value of our LFR, if government inject the LFR recovered on the economy, it will boot our economy!
at rate of $ to ₦ today if government managed to recovered $1 trillion LFR it will give us:

$1=₦400, $1trillion=₦400trillion!
I hereby challenge the Nigeria economists who insist that rising $ and downwards of oil price is a broke to nigeria economy to come-up for debate!
Note (LFR is looted fund reserve)

oyinkinola:


1. ....there are very many commentary on depreciation of ₦ nowadays expecially in parallel market, although parallel or black market can be manipulated by the traders, they either do it on their self interest, so those who doesn't beleive in the prosperity of nigeria can harbour $ as they can on imported goods hereby cause hike!
But in my own point of view the depreciation of ₦ is a great success to this nation if well manage to nigeria situation today. the looted fund is in $ and it must be refunded back in $, so if $1 is ₦198 when the money is looted, then if the money is refund today at $1 to ₦350 the nation has gained ₦152!
imagine if $1=₦1000, the gain is ₦902!
So in conclusion if the government managed to refund the $trillion looted and the refunded money, change it in parallel market, this will reduce the pressure on ₦ and the scarcity of $ in parallel market so the ₦=$.

(take note all the money took out of CBN during jonathan regime were changed in parallel market before ditributed)

you have other opinion?

2. ...2017 budget will beat record... ₦1 quadrillion!, all the social sectors will be substantially finance to trillions ₦, poverty will be completely eradicated and by the end of year 2018 Nigeria will be declared a developed state and classify one of the first three country in the index of human .
I know you will argue on how this can happen with the economics situation of today, low foreign reserve, low oil price, with depreciation of ₦.
yes oil price is down, foreign reserve is dry but we still have foreign looted fund reserve at hand! when recovered and well managed, it won't be problem to have money for this budget!
we can only pray that a $ hit ₦1000 and all $1 trillion looted recovered!
I know for sure that with the determination of this government and the support of foreign nation to help recovered all $ trillion looted it will happen.....$1 trillion recovered and change to ₦ will give us ₦1 quadrillion needed to financ that budget!
year 2017 bye bye to poverty!

3. ....OIL AND LFR
THE TWO MAIN MEANS OF INCOME FOR NIGERIA ECONOMY
.....with the determination of Nigeria president Buhari and the trust of of world leaders toward nigeria, from America, Eroupe, Asia and gulf nation the down price of oil and the rise in $ is not a corse to nigeria but a blessing.
Among the oil producing countries, and OPEC only nigeria have what other didn't, we have oil in common but nigeria have the looters as well, this opportunity raise nigeria above other oil nation and when all this country are frustrated with oil down price, nigeria have turn to her looted fund reserved to keep her economy running.
Nigeria is bless with oil and (LFR) looted fund reserve, when the oil price is down, the rise-up of dollar $ hike the value of our LFR, if government inject the LFR recovered on the economy, it will boot our economy!
at rate of $ to ₦ today if government managed to recovered $1 trillion LFR it will give us:

$1=₦400, $1trillion=₦400trillion!
I hereby challenge the Nigeria economists who insist that rising $ and downwards of oil price is a broke to nigeria economy to come-up for debate!
Note (LFR is looted fund reserve)

How strong is the weed around your area?

If the currency of a nation is a measure of its share price, then nigeria is worthless