CBN should never attempt to devalue our Naira being a consumer economy devaluation never the solution. But just ban Bureau De Change and that way tackle unnecessary demand of forex since only banks can give & buy at a given price.

sLentlover7778:
The solution to Nigeria palava na C.B.N (Comot Buhari Now)

amakenny:



Lol, army has no more courageous Gideon Okars.
Only courageous ones are those that go into churches to kill unarmed civilians.

Others Na so so pepper soup and fcuck fcuck khaki-wearing men.

The minute you coupists realize that our problem is that our economy does not have a stable source of revenue due to our reliance on revenues from selling oil, and mining and agric products.....whose prices we do not control....you would wake up to the fact that the Army cannot do anything different from what this admin is doing.

If you want a good economy, you would have to stop relying on oil....and take the hard road to an industrial economy. It is because it is a hard road....and becacuse you Nigerians do not want to work for your money that you refuse to take that road.

Acidosis:
The CBN is only good at employing the sons and daughters of the elite.

story

sanusidabo:
CBN should never attempt to devalue our Naira being a consumer economy devaluation never the solution. But just ban Bureau De Change and that way tackle unnecessary demand of forex since only banks can give & buy at a given price.

We may have no choice....as the problem IS that we do not have enough forex flowing into the economy.

To put it simply....Nigeria needs to be earning $73 extra to be able to balance the books. Right now....we are not earning the extra $73 from our oil sales.

Boyooosa:

I dont understand your Brain!

must u understand his brain?

and put who?

I hope they won't ask us to stop using our naira this time cos their policies are always against the masses and the nation

They most announce that a dollar is equal to 1naira otherwise I am still waiting for the Change.

Quakertellicus1:



The minute you coupists realize that our problem is that our economy does not have a stable source of revenue due to our reliance on revenues from selling oil, and mining and agric products.....whose prices we do not control....you would wake up to the fact that the Army cannot do anything different from what this admin is doing.

If you want a good economy, you would have to stop relying on oil....and take the hard road to an industrial economy. It is because it is a hard road....and becacuse you Nigerians do not want to work for your money that you refuse to take that road.

Which of course this government and past ones are not ready to. If they should pick up agriculture alone it would in conjuction with the oil change our situation.... Their attitude brings us back to Stage one

Apc are like.....

uboma:
Fingers crossed till the new policy is read out....

Hahaha no need to cross anything.. They have stylish devalue naira since, they just want to make it officially announced...

When using your bank card abroad, it's 315N with bank charge. meaning the naira is 285 CBN rate.
Coded devalue of naira.

Spain007:
must u understand his brain?

lol! I want to know if such specie exist....

sLentlover7778:
The solution to Nigeria palava na C.B.N (Comot Buhari Now)

I know my fellow nairalanders will start yabbing you in a jiffy, but as for me and my family we CONCUR.

1miccza:


Which of course this government and past ones are not ready to. If they should pick up agriculture alone it would in conjuction with the oil change our situation.... Their attitude brings us back to Stage one

No it won't....and neither would an increase in oil prices change our condition either.

It won't for the simple reasons that

1.Agricultural prices too fluctuate just as badly as oil prices. Even worse.

2.Just like oil....we do not control the price of agric products.

One more thing....if you want to have a successful agric sector.....you need lots of large scale plantaiton like farms...which Nigeria does not have.

Agric and oil will not save us. Industrial development based on our raw materials would. Getting there is going to take hard work and more pain...but the benefits are worth it.

(Agric worked in the 1960's because we had a guaranteed market in the UK.Not anymore.).

The just want to devalue Naira but the are saying it in a coded form or word...

Sprintson:


The solution to Nigeria's problem is CBN= Comot Buhari Now

guy you too much i like your comment

Quakertellicus1:


No it won't....and neither would an increase in oil prices change our condition either.

It won't for the simple reasons that

1.Agricultural prices too fluctuate just as badly as oil prices. Even worse.

2.Just like oil....we do not control the price of agric products.

One more thing....if you want to have a successful agric sector.....you need lots of large scale plantaiton like farms...which Nigeria does not have.

Agric and oil will not save us. Industrial development based on our raw materials would. Getting there is going to take hard work and more pain...but the benefits are worth it.

(Agric worked in the 1960's because we had a guaranteed market in the UK.Not anymore.).

We no longer have guaranteed markets in the UK because they know and understand that we neither farm or own plantations like it used to be. As for the plantationS they can return if our government decides to put their heart into it. Anambra state today has started export of agricultural produce as a means of generating revenue internally,imagine how it would look like if we have plantations dotting different states in the nation. And of course we can also go into processing and a lot more.... Come to think of it markets are sourced when products are available

henrydadon:
bros talk true
If u are blessed today with a lot of money and u want to give your self the best quality education that there is

Where would u go to.

I did my OND in laspotech and today by God grace am schooling in canada..though I can say the fee here are much higher..but the quality cannot be compared to any school we have in Nigeria

but In your case I guess you work and study in Canada, but in his own case his was talking about paying schOol fees from Nigeria .. So I believe that is different ..

lincolnj88:
hope not a policy that will facilitate job loss like the atomic bomb called TSA

Please don't hold a view that TSA is the cause of the atomic job losses we are seeing in Nigeria. You may say other government policy or economic melt down but Not TSA. TSA is putting Federal Government earnings in one single account. Are you now saying without government money banks would have no money or would run out of business? If that is the case, their licences should be withdrawn and given to those who will run the business of bank as it is being run worldwide.

sanusidabo:
CBN should never attempt to devalue our Naira being a consumer economy devaluation never the solution. But just ban Bureau De Change and that way tackle unnecessary demand of forex since only banks can give & buy at a given price.

Buhari stylishly devalue naira since.. 285N. CBN want to announce it officially. for foreign investors not for us.. Those of us using your bank card abroad notice the rate 319N with bank charge.

And it has to be a ceremonial thing televised! Simply announce this thing and let's get over with it joooooor!

Acidosis:
The CBN is only good at employing the sons and daughters of the elite.

you wouldn't want to imagine what a poor man would if exposed to such amounts, would you?

henryobinna:
bro, it seems you don't get it.

For the past 6months to 1year we've always been paying double for a dollar.

I do some form of online biz, when I pay for dollars I'll pay double but when I'm paid I'll be paid a meager 199 per dollar.

That is about to change. Businesses have been suffering it since that's the reason some goods also got price increase.

bro, how is it about to change? Trust me, this is clear devaluation and be ready to pay around 280 per dollar. Dollar rate will never fall if that is what your termed 'this is about to change' and add black market rate and might have 320-350.

APC and Buhari has finished us. No matter how bad it, there should have been some sort of shock absorbers to help the economy but they chose to fold arms.

Iammelvin:
How doe s dis affect d price of bag of rice?

Na only bag of rice you see bro... Beans too don join

Easy3oy:
you wouldn't want to imagine what a poor man would if exposed to such amounts, would you?

Something must be wrong with you. Is that your stupid reasoning of defending nepotism? Do you mean all poor are thieves? This is why I can't hold back my anger when I read nonsense like this,

berrystunn:


Buhari stylishly devalue naira since.. 285N. CBN want to announce it officially. for foreign investors not for us.. Those of us using your bank card abroad notice the rate 319N with bank charge.

exactly!

sanusidabo:
CBN should never attempt to devalue our Naira being a consumer economy devaluation never the solution. But just ban Bureau De Change and that way tackle unnecessary demand of forex since only banks can give & buy at a given price.

you think they are ignorant of what you are saying? They are gaining from it bro and thus, you demand will never become a reality.

Tallfam:



Na only bag of rice you see bro... Beans too don join

lol..i dy tel u

Sprintson:


He said the truth na!
Dem deh understand brain again?

He said the truth na!
Dem deh understand brain again?

what do you understand that truth to be?
C= Commot
B=Buhari
N=Now!
Am I right? and you concluded that, that is creative. Wao, I clap for both of you, Bravo! Pls, kindly read the topic and the content again: after then, u will not associate yourself with 'lo-content'.... its a specie!

hummm,I am just passing...,from here I will ho to Babylon..

2sexycom:
bro, how is it about to change? Trust me, this is clear devaluation and be ready to pay around 280 per dollar. Dollar rate will never fall if that is what your termed 'this is about to change' and add black market rate and might have 320-350.

APC and Buhari has finished us. No matter how bad it, there should have been some sort of shock absorbers to help the economy but they chose to fold arms.

Actually, this won't reduce the price of dollar rather it'll increase the amount of naira per dollar businesses who recieve dollar payment are paid. for example if you recieve 100$ to your account you'd be paid 19,900 at least at the moment where as you'd be charged 340+ to a dollar when paying for the same 100$ bringing it to 3400+ for a dollar.

But when this policy is implemented you'd no more be paid 19900 for 100$ rather 28000 if the new rate is 280

Quakertellicus1:


No it won't....and neither would an increase in oil prices change our condition either.

It won't for the simple reasons that

1.Agricultural prices too fluctuate just as badly as oil prices. Even worse.

2.Just like oil....we do not control the price of agric products.

One more thing....if you want to have a successful agric sector.....you need lots of large scale plantaiton like farms...which Nigeria does not have.

Agric and oil will not save us. Industrial development based on our raw materials would. Getting there is going to take hard work and more pain...but the benefits are worth it.

(Agric worked in the 1960's because we had a guaranteed market in the UK.Not anymore.).

I have a slightly different opinion. See, there is unemployment all over Nigeria. If some of the unemployed or underemployed go into agric, we have reduced part of our problems. If you also Analise our situation very well, we are importing a great proportion of what we eat today, which puts a lot of pressure on us to demand more and more forex and invariably wreaking our local currency Naira. Output from the agric will help us solve some of the food crises and looking at the agric value chain, it will be a win-win situation over time. We can of course combine this with industrialization or any other venture that will help our economy. Even with agriculture we might consider mechanization which is a form of pseudo industrialization . We can also reduce crime rate and may be some of the various agitations nation-wide. It might not be the full solution but I think it is going to be a step in the right direction.