Please let me explain to those of us who don't understand
Economic terms. Dollar has not increased since Buhari
became president.
1. Dollar is not our currency so dollar should not be our
business.
2. Our problem is not d government but our problem is our
importers and consumers.
3. Naira has remained at 197 naira to 1 dollar since Buhari
became president.
4. Buhari has promised not to devalue the Naira and he has
maintained that promise.
5. Both at CBN and at interbank rates, dollar has remained
197.
6. However because we are too lazy to produce what we use
in Nigeria we import even toothpicks and matches.
7. Buhari does not like d importation of luxury goods
because luxury goods is d reason for most corruption, that
is why he banned 41 products from having access to forex.
8. However when Nigerian importers insisted on importing
those 41 products, FG asked them to find their dollar at d
BDCs parallel market also known as black market.
9. And to discourage the pressure Nigerians are mounting
on the Naira just to get dollars for importation, CBN banned
DMBs from selling dollars to BDCs.
10. To survive the pressure of excess dollar demands, BDCs
resorted to sourcing for dollars from neighbouring countries
through illicit money laundering routes.
11. Because of the risks faced by BDCs to source for dollars,
and because of the increase in demand for dollars by
importers because China just resumed from their business
holidays, BDCs keep increasing the price at which they
exchange dollars to naira and now it is 400 naira to 1
dollars.
12. However that does not mean that govt has changed the
exchange rate because if our genuine importers go to CBN
and fill Form M to import raw materials for local production,
they will get dollars at 197 naira each.
13. So the problem is that we love to consume luxury foreign
products yet we are too lazy to manufacture them here.
14. For example u will see a dull girl using iPhone 5 without
even knowing simple physics and computer engineer
Stop... Insinuating.. Learn the facts

I think so too but I will be interested in you telling me how much volume the banks can produce without relying on the parallel markets.
If I may ask you, how many made in Nigeria products are the governments patronizing.
Government must live by Moral example's.
Try to be more constructive

And fuel scarcity has not increased only the queues and demand for fuel.

Power generation has not also decreased but a sign that Nigerians are consuming too much as more and more homes become wealthier and thus utilise on average 300 horsepower air conditions to brace the soaring heat.

Also, Boko Haram has been technically defeated.

So the dollar is still technically stagnant to the naira.


Zombie

Alero3Arubi:
Please let me explain to those of us who don't understand
Economic terms. Dollar has not increased since Buhari
became president.
1. Dollar is not our currency so dollar should not be our
business.
2. Our problem is not d government but our problem is our
importers and consumers.
3. Naira has remained at 197 naira to 1 dollar since Buhari
became president.
4. Buhari has promised not to devalue the Naira and he has
maintained that promise.
5. Both at CBN and at interbank rates, dollar has remained
197.
6. However because we are too lazy to produce what we use
in Nigeria we import even toothpicks and matches.
7. Buhari does not like d importation of luxury goods
because luxury goods is d reason for most corruption, that
is why he banned 41 products from having access to forex.
8. However when Nigerian importers insisted on importing
those 41 products, FG asked them to find their dollar at d
BDCs parallel market also known as black market.
9. And to discourage the pressure Nigerians are mounting
on the Naira just to get dollars for importation, CBN banned
DMBs from selling dollars to BDCs.
10. To survive the pressure of excess dollar demands, BDCs
resorted to sourcing for dollars from neighbouring countries
through illicit money laundering routes.
11. Because of the risks faced by BDCs to source for dollars,
and because of the increase in demand for dollars by
importers because China just resumed from their business
holidays, BDCs keep increasing the price at which they
exchange dollars to naira and now it is 400 naira to 1
dollars.
12. However that does not mean that govt has changed the
exchange rate because if our genuine importers go to CBN
and fill Form M to import raw materials for local production,
they will get dollars at 197 naira each.
13. So the problem is that we love to consume luxury foreign
products yet we are too lazy to manufacture them here.
14. For example u will see a dull girl using iPhone 5 without
even knowing simple physics and computer engineer
Stop... Insinuating.. Learn the facts

Zombie name just one pin you have manufactured to boost our industries and consumer market?

Mofo

I want to believe this government is buying only made in naija things?

eph12:
I want to believe this government is buying only made in naija things?

Duara fura and kunu

Lame and dumb excuses.

Alero3Arubi:

6. However because we are too lazy to produce what we use
in Nigeria we import even toothpicks and matches

And now we import grasses from Brazil for grazing.

Zombie oh zombie.

What is this one saying? People just open. Thread and start spitting thrash, am sure the OP does not do business in dollars, hence his ignorance about the shameless forex policy by Buhari.
Does he know the process to get dollar in d bank at official rate of just a common citizen.

Does he know that the increase in dollar, is the cause of inflation skyrocketing. Check the price of camera, washing machine, generator, television, fridge, sound system, fan, oven, toaster etc. Last year and now, and see whether it is the same thing. Is not because of the increase in dollar? Or do we produce all this in Nigeria.

My friend no make me vex. U just showed a huge sign of ignorance of ur country happenings.

Good riddance.

Talk tru op how much Apc give u.

TheDevilIsALai:
And fuel scarcity has not increased only the queues and demand for fuel.

Power generation has not also decreased but a sign that Nigerians are consuming too much as more and more homes become wealthier and thus utilise on average 300 horsepower air conditions to brace the soaring heat.

Also, Boko Haram has been technically defeated.

So the dollar is still technically stagnant to the naira.


Zombie

Best response ever!

The problem is not We patronizing our own. About 80-90% of things manufactured in Nigeria does not last.
I bought a tablet made in Nigeria last year June (Name Withheld) and After 4 days, screen went blank and they did not have a service centre in PH where I stay, had to travel to lag to fix it and they charged me 7000 for a phone I just bought, I had to drop it for them and Ask for a refund which was not complete but at least I was done with that.

So if we insist on Patronizing Nigerian made goods, then we should learn to make the original ones. Why don't Government use cars manufactured by Innoson?

Alero3Arubi:
Please let me explain to those of us who don't understand
Economic terms. Dollar has not increased since Buhari
became president.
1. Dollar is not our currency so dollar should not be our
business.
2. Our problem is not d government but our problem is our
importers and consumers.
3. Naira has remained at 197 naira to 1 dollar since Buhari
became president.
4. Buhari has promised not to devalue the Naira and he has
maintained that promise.
5. Both at CBN and at interbank rates, dollar has remained
197.
6. However because we are too lazy to produce what we use
in Nigeria we import even toothpicks and matches.
7. Buhari does not like d importation of luxury goods
because luxury goods is d reason for most corruption, that
is why he banned 41 products from having access to forex.
8. However when Nigerian importers insisted on importing
those 41 products, FG asked them to find their dollar at d
BDCs parallel market also known as black market.
9. And to discourage the pressure Nigerians are mounting
on the Naira just to get dollars for importation, CBN banned
DMBs from selling dollars to BDCs.
10. To survive the pressure of excess dollar demands, BDCs
resorted to sourcing for dollars from neighbouring countries
through illicit money laundering routes.
11. Because of the risks faced by BDCs to source for dollars,
and because of the increase in demand for dollars by
importers because China just resumed from their business
holidays, BDCs keep increasing the price at which they
exchange dollars to naira and now it is 400 naira to 1
dollars.
12. However that does not mean that govt has changed the
exchange rate because if our genuine importers go to CBN
and fill Form M to import raw materials for local production,
they will get dollars at 197 naira each.
13. So the problem is that we love to consume luxury foreign
products yet we are too lazy to manufacture them here.
14. For example u will see a dull girl using iPhone 5 without
even knowing simple physics and computer engineer
Stop... Insinuating.. Learn the facts

you know this is the most aloof crap ever, right?

but you have a nice smile though, that compensates for the stuppid copied submission!

You are correct in saying that the official dollar/naira exchange rate has not changed since Buhari assumed office however it does not excuse the ineffectiveness of FG policies in combating the dollar shortage.

LordReed:
You are correct in saying that the official dollar/naira exchange rate has not changed since Buhari assumed office however it does not excuse the ineffectiveness of FG policies in combating the dollar shortage.

As always, LordReed understands the effect of an intelligent opposition.

I do not mean to offend with my thread, but obviously I have.
I hope we learn to make constructive and intelligent oppositions and less insultive remarks.
Its amazing how my research that obviously have loopholes which you helped me discover makes you realise how terrible your manners are.
My apologies for the offence.
...But then again,...I aim to learn whether anyone else chooses to or not.

LordReed:
You are correct in saying that the official dollar/naira exchange rate has not changed since Buhari assumed office however it does not excuse the ineffectiveness of FG policies in combating the dollar shortage.

Otunba! Been trying to reach you,both lines no gree,the text bounced bak nt delivered. What planet are thou? Need to hookup

bejeria101:


Otunba! Been trying to reach you,both lines no gree,the text bounced bak nt delivered. What planet are thou? Need to hookup

Broda my mobile has gone bonkers, using wifey's lappy to browse now.

LordReed:


Broda my mobile has gone bonkers, using wifey's lappy to browse now.

Ok just got the hp lappy as a gift yesterday,wantd to get it to you for pimping,wld tomorrow be good? Where do i meet you sir. Thanks

Alero3Arubi:
Please let me explain to those of us who don't understand
Economic terms. Dollar has not increased since Buhari
became president.
1. Dollar is not our currency so dollar should not be our
business.
2. Our problem is not d government but our problem is our
importers and consumers.
3. Naira has remained at 197 naira to 1 dollar since Buhari
became president.
4. Buhari has promised not to devalue the Naira and he has
maintained that promise.
5. Both at CBN and at interbank rates, dollar has remained
197.
6. However because we are too lazy to produce what we use
in Nigeria we import even toothpicks and matches.
7. Buhari does not like d importation of luxury goods
because luxury goods is d reason for most corruption, that
is why he banned 41 products from having access to forex.
8. However when Nigerian importers insisted on importing
those 41 products, FG asked them to find their dollar at d
BDCs parallel market also known as black market.
9. And to discourage the pressure Nigerians are mounting
on the Naira just to get dollars for importation, CBN banned
DMBs from selling dollars to BDCs.
10. To survive the pressure of excess dollar demands, BDCs
resorted to sourcing for dollars from neighbouring countries
through illicit money laundering routes.
11. Because of the risks faced by BDCs to source for dollars,
and because of the increase in demand for dollars by
importers because China just resumed from their business
holidays, BDCs keep increasing the price at which they
exchange dollars to naira and now it is 400 naira to 1
dollars.
12. However that does not mean that govt has changed the
exchange rate because if our genuine importers go to CBN
and fill Form M to import raw materials for local production,
they will get dollars at 197 naira each.
13. So the problem is that we love to consume luxury foreign
products yet we are too lazy to manufacture them here.
14. For example u will see a dull girl using iPhone 5 without
even knowing simple physics and computer engineer
Stop... Insinuating.. Learn the facts

Zombie spotted!

5. Both at CBN and at interbank rates, dollar has remained 197. this supposed to be in the jokes section

when the economy isn't smiling.
-you provide ur own light even after paying light bills.
-sourcing for fuel to distribute ur product means wasting useful man hours queing.
-bad roads increase the income of most mechanics .That how substandard our roads are.
-harsh govt policies.
with those little points tell me how a business would strive and compete favorably with their abroad counterparts.
hence now u see why import things even down to ruler(made in china).

Pavarottii:
What is this one saying? People just open. Thread and start spitting thrash, am sure the OP does not do business in dollars, hence his ignorance about the shameless forex policy by Buhari.
Does he know the process to get dollar in d bank at official rate of just a common citizen.

Does he know that the increase in dollar, is the cause of inflation skyrocketing. Check the price of camera, washing machine, generator, television, fridge, sound system, fan, oven, toaster etc. Last year and now, and see whether it is the same thing. Is not because of the increase in dollar? Or do we produce all this in Nigeria.

My friend no make me vex. U just showed a huge sign of ignorance of ur country happenings.

Good riddance.

seconded and thirded.thumbsup bro.

grevotech:
The problem is not We patronizing our own. About 80-90% of things manufactured in Nigeria does not last.
I bought a tablet made in Nigeria last year June (Name Withheld) and After 4 days, screen went blank and they did not have a service centre in PH where I stay, had to travel to lag to fix it and they charged me 7000 for a phone I just bought, I had to drop it for them and Ask for a refund which was not complete but at least I was done with that.

So if we insist on Patronizing Nigerian made goods, then we should learn to make the original ones. Why don't Government use cars manufactured by Innoson?

is ben bruce not part of govt?

@Op, whatever you smoking is the real deal

calculator123:
is ben bruce not part of govt?

Ben Bruce out of how many Senators

grevotech:

Ben Bruce out of how many Senators

it is because they don't have commonsense like him.

calculator123:
it is because they don't have commonsense like him.

That's my point if they want Us to patronize Nigerian made goods then let them start it..

grevotech:

That's my point if they want Us to patronize Nigerian made goods then let them start it..

.
i guess innoson doesnt have bullet proof cars yet and dat is what most govt officials drive

Alero3Arubi:
Please let me explain to those of us who don't understand
Economic terms. Dollar has not increased since Buhari
became president.
1. Dollar is not our currency so dollar should not be our
business.

why did mad buhari promise to make one naira equal to one dollar?

"Cigarette smoking is dangerous" - beko ransome-kuti