Ijaya123:


Most of them are simply filled with needless hatred and have little or no space for any sensible attributes again.

tsdarkside:



i noticed one thing about the wailers.....

their phantasy explode when it comes to abusing people....

but when it comes to presenting solutions............................................................................mute!!!!!.......

There is a very good reason they are called #WAILERS now....

They are all "curses" and no reason/sense!

Very bitter set of senseless HEediots.

Adminisher:


The average WAILER is some half educated, unemployed ni wit in some SE state, too educated for trading and not too smart to get a job. They spend their days typing stuff off the top of their heads without thinking first. If I flash a picture of Jonathan here now you will see the lost, pre- programmed lost kids posting worshipful and untrue accolades to the man's fake smile and confused looks. Only God himself will deliver this generation.

Adminisher:


The average WAILER is some half educated, unemployed ni wit in some SE state, too educated for trading and not too smart to get a job. They spend their days typing stuff off the top of their heads without thinking first. If I flash a picture of Jonathan here now you will see the lost, pre- programmed lost kids posting worshipful and untrue accolades to the man's fake smile and confused looks. Only God himself will deliver this generation.

Excuzeme:


America and the IMF are not smiling at any move for Nigeria to peg to the Yuan.
Just watch as they find "an excuse" (human right, devaluation, gay law, e.t.c) for one sanction or the other, just to arm twist us to continue to back their "factory-printed" paper-Dollar, at the expense of everyone.

Recall that the Dollar is no longer backed by Gold or anything of value!
So, other countries just sell/exchange their RESOURCES for the Dollar, while America just goes to its printer and tell them to keep printing the Paper.... and selling to others.

Also recall, this os one of the cardinal Sins of Ghadafi, Sadam, Castro and many other leaders like Savimbi, Samora Mitchel, e.t.c.
Any Leader of any country who tries to upstage the Dollar and expose it as the SCAM that it is, is marked for toppling, and if that is not possible, for execution.

aeronot:
Lets stop deceiving ourselves, if you want to do an online transaction the banks are charging black market rates 319, it is only when u are receiving money or changing dollar to naira the banks gladly charge 199! We should stop all this deceit!

4Play:


The sad thing is their obliviousness to their profound economic illiteracy. He puts up an article about the ill-fated move by the Egyptian government to fix exchange rates, instead of leaving it to market supply and demand to determine as economists recommend, and proclaims that this illustrates that the Nigerian government is vindicated!

To the contrary, the Egyptians are doing what the Nigerians are doing and are predictably failing. The fact that they have chosen to devalue a bit doesn't refute the fundamental diagnosis - governments cannot simply fix echange rates unless they have sufficient forex reserves to back it up. Nigeria does not have the reserves to fix the Naira at a particular price level so insisting on doing so will cause unnecessary hardship and creates opportunities for corruption via round-tripping. Why is this so difficult for Nigerians to understand?

MrPresident1:
Buhari will be declared lord and saviour, the messiah of Nigeria, very soon, when the Yuan is backed with gold and the Dollar starts to flounder.

A 'most timely and fortuitous' move away from the Dollar to the Yuan in the nick of time that saved Nigeria from being affected by the economic disaster in the west.

Buhari will be hailed as the wisest leader ever liveth.

CACAWA:
dude don't dull yourself o.

Don't send money using wester Union or any useless bank transfer. Use azimo

They give you at black market rate my brother. I have been enjoying myself since I discovered it.

modath:


Difaluashon nor epp Egypt...

A yaff tirai..

aeronot:
Lets stop deceiving ourselves, if you want to do an online transaction the banks are charging black market rates 319, it is only when u are receiving money or changing dollar to naira the banks gladly charge 199! We should stop all this deceit!

ugwum007:


Can you use azimo for online transaction?

GworoChewinMaga:


This is why I supported the removal of fuel subsidy and also the deregulation of the down stream sector that could only come to pass with the passage of the PIB.

If these two policies were allowed by now we would have had hundreds of small to medium scale refineries in every state.

Sometimes I just wonder how some of you think. Opposing the deregulation of the down stream sector and the subsidy removal was like Opposing the licensing of GSM operators in place of nitel only.



You see how we are light years ahead of you zombies.

GworoChewinMaga:


We must as a matter of urgency balance our deficit trade balance.

We export only crude and raw materials and in return basically everything else.

For us to begin to be a net exporter we must reduce our net imports.

The truth is that Nigerians do not deserve the life style they are living.

You basically produce nothing and depend on oil revenues shared through your corrupt governors to remain in existence.

The Nigerian policy is tantamount to a yeast culture where you consume and reproduce without recourse to the limited resources at your disposal and just like all yeast cultures when the food source is completely consumed, the culture dies out.

Nigerians should begin to wean themselves off the over dependence on free oyel money and this is why I am a staunch advocate in promoting cocoa and grounding plantations in the sw and North alongside any other cash crops you can scratch off your lands.

It's time to get back to work.

4Play:
What has been called for is a free float of the Naira and not mere devaluation. If the CBN comes out today and announces that the Naira will now exchange at N280 to the dollar, that does not eliminate the problem as fixing exchange rates by fiat with insufficient reserves is a recipe for disaster. This is what the Egyptians have done and it goes against sound macro-economic advice.

A free float eliminates the black market as you have one exchange rate market and the market determines the exchange rate. People don't realise that having a fixed exchange rate regime in Nigeria was the norm from the 70s to the 80s and it helped hollow out our economic capacity and created all sorts of economic distortions.

Prices dictated by supply and demand play a crucial signalling role in the allocation of economic resources. By maintaining an inflated exchange rate, resources are misallocated and necessary economic adjustments are not made until it is too late.

You have to ask yourself - what does having the Naira at N200 to the dollar do for the economy other than to make imports cheaper? Why do these our so called nationalists want to make the importation of goods cheaper when they claim that Nigeria needs to weans itself off the dependence on imports?

aeronot:
Lets stop deceiving ourselves, if you want to do an online transaction the banks are charging black market rates 319, it is only when u are receiving money or changing dollar to naira the banks gladly charge 199! We should stop all this deceit!

4Play:


The sad thing is their obliviousness to their profound economic illiteracy. He puts up an article about the ill-fated move by the Egyptian government to fix exchange rates, instead of leaving it to market supply and demand to determine as economists recommend, and proclaims that this illustrates that the Nigerian government is vindicated!

To the contrary, the Egyptians are doing what the Nigerians are doing and are predictably failing. The fact that they have chosen to devalue a bit doesn't refute the fundamental diagnosis - governments cannot simply fix echange rates unless they have sufficient forex reserves to back it up. Nigeria does not have the reserves to fix the Naira at a particular price level so insisting on doing so will cause unnecessary hardship and creates opportunities for corruption via round-tripping. Why is this so difficult for Nigerians to understand?

chriskosherbal:
Although we can take lessons from that, that does not in anyway stop us from taking proactive in the financial industry.

aeronot:
Lets stop deceiving ourselves, if you want to do an online transaction the banks are charging black market rates 319, it is only when u are receiving money or changing dollar to naira the banks gladly charge 199! We should stop all this deceit!

989900B:


Now tie the above into you earlier comments, you want the gov't to pay more for refined fuel?

You want official pump prices to be N150/litre and above, and when there is scarcity like there is now, we go probably N500/litre or more.

The government have foreign debts, tell me how devaluation makes that easier.

I would have loved you to answer how devaluation has helped us in the past: from 65 kobo to $1, and more recently, from N155 to 199?

What rate would you want the Naira devalued to?

Once you devalue, there is call for wage increase which triggers 'further inflation' and makes available money to buy 'the same now more expensive imported goods' = pressure back on the dollar = back to square 1.

Devaluation in our 'peculiar scenario', is a lazy man's approach to a fundamental problem.

I have over 10 written articles and tens of comments on NL about devaluation and why not.

I wrote the below a month or thereabout ago, have at it https://www.nairaland.com/2949997/dollar-vs-naira-done

It'd probably help your misconceptions, though you strongly believe in them.

Go on, amaze me!

InvertedHammer:
/
The people shouting "DEVALUATION " are similar to the folks that got sucked into the bubble of "CHANGE"

When they finally get it, the mirage will clear.

The inflation and consequent hardship will be second to none.

Black market will always thrive even if abolished because everyone wants more bang for his/her bucks.

In all, after devaluation, prices will adjust up while salaries remain stagnant. Will you be ready?

\

4Play:
What has been called for is a free float of the Naira and not mere devaluation. If the CBN comes out today and announces that the Naira will now exchange at N280 to the dollar, that does not eliminate the problem as fixing exchange rates by fiat with insufficient reserves is a recipe for disaster. This is what the Egyptians have done and it goes against sound macro-economic advice.

A free float eliminates the black market as you have one exchange rate market and the market determines the exchange rate. People don't realise that having a fixed exchange rate regime in Nigeria was the norm from the 70s to the 80s and it helped hollow out our economic capacity and created all sorts of economic distortions.

Prices dictated by supply and demand play a crucial signalling role in the allocation of economic resources. By maintaining an inflated exchange rate, resources are misallocated and necessary economic adjustments are not made until it is too late.

You have to ask yourself - what does having the Naira at N200 to the dollar do for the economy other than to make imports cheaper? Why do these our so called nationalists want to make the importation of goods cheaper when they claim that Nigeria needs to weans itself off the dependence on imports?

MrPresident1:


China is the new power in the world.

The Yuan will replace the Dollar as the premier reserve currency for global trade when it is eventually backed with gold, China has been buying gold like demons for over two years now. Investors will prefer gold backed currency over fiat currency, and this choice will be the death of the petrol dollar.

Nigeria already signed a deal with China for free flow of Yuan into our economy, some of our reserves are already being converted to Yuan, away from Dollar. America allowed Nigeria to sign the deal, didn't they? They are all in cahoots

When the time comes, you will see it was a 'timely and most fortuituous' move.

Buhari will be hailed as our Jesus Christ

blackprowler:


What worries me the most is that some of you refuse to acknowledge or fail to realise that your fears of what happens after devaluation has already happened. It must happen; there's no other way. Prices of everything have gone up almost 100% in the last one year. The problem with Nigeria is that when someone officially says what has already happened,that's when people will start making a noise. As one previous poster alluded, the problem with Nigeria is our attitude and conduct

aeronot:
Lets stop deceiving ourselves, if you want to do an online transaction the banks are charging black market rates 319, it is only when u are receiving money or changing dollar to naira the banks gladly charge 199! We should stop all this deceit!

4Play:


Dude, you are a bit thick. You need to read my post that you quoted for a rebuttal of your outstanding "insight". Here is an extract from post - [s]"By narrowly focusing on devaluation, the OP misses the forest for the trees.[/s] [s]The CBN's policy misstep is not a failure to devalue but a failure to allow market forces dictate the Naira's value given the CBN's lack of ammunition [/s](i.e., forex reserves)."

If you have substantial forex reserves, you can manipulate all you want. If you don't, you have to allow market forces determines prices. No point in comparing us to China who have $3 trillion in forex reserves.

2 or 3 years ago on Nairaland I questioned why people thought Sanusi, the CBN governor, did a good job when he failed to accummulate forex reserves at a time oil prices were high. It seemed bizarre then and has left us short of forex to defend the Naira now that oil prices are low. Now that we are were we are, we need to bear the consequences and learn our lessons to avoid a repeat in the future. No amount of sloganeering and wishful thinking will dig us out of the hole we dug ourselves into.