Baba has spoken

This is 21st century and we ought to have well educated people running the country

The president thinks the policy is of no benefit to the country and yet he allowed it to be implemented


it's a shame

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

Abeg, shut up. Must he have an A1 in economics to perform well?

49cents:
The Naira was over-valued since oil became Nigeria's main stay and that discouraged diversification and industrialisation whilw promoting importation of everything due to cheap petrodollars

As it stands now, the smartest thing to reverse that trend is to further mark up the dollar to N400 and give tax paillaitives to companies, social buffers to Nigerians in terms of mass transport, housing schemes, food availability and quality education etc

In about 6 years Nigeria will find its self in a superb state

You make a whole lot of reasonable sense. But Nigerians are not that patient

2sexycom:
You know when people you talk about discouraging importation I laugh. Is our power sector working to begin with? Give people constant power supply and watch Nigeria transform herself in just 5-7 years.

Power is a factor but you have to deal with importation as it is! Power will take as long as 5-7 years to get fixed that is with a serious government.

The only way to encourage local production and making their prices competitive is buying devaluation.

@ cornelin

How will government encourage the local manufacturers if importation is still cheaper than local production owing to availability of cheap forex?

rusher14:


I don't deny you hustle hard but as long as your hustle doesn't involve local manufacturing or direct import of forex and not the other way round, the presidency is not your problem.

I just bought rice for 100naira a cup with the same salary I used to buy it for 40naira so tell me how it's not my problem

Who is more clueless between GEJ and PMB?

Oh, what a shame- those that do not understand what the president was trying to say* he was trying to force nigerians to start producing locally, when they wouldn't be able to get forex, for things that can be produced locally.

Now we are back to the old regime, government sell crude oil and make available to those that want to import garlic, through the CBN window*

Finally, you would appreciate, that the problem of nigeria - is not the government, but the people what a shame!

Shewunoshewa:
Who is more clueless between GEJ and PMB?

Both, but pmb is winning

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

You that knows, please come to his aid

this is exactly ,my problem with this fool . it is only 2 weeks that the naira was devalued, he is already calling it failed . yet he has been there for one year and he is telling nigerians to be patient. does he think immediately after devaluation everything will gall in place ? how can this man that calls himself president be comparing 1983 to today.

Its law of demand and supply. Make Dollar scarce and discourage importation. People will suffer for 5 to 10 years after which the gains will come alive. Our economic problem is mainly from short term planning with every Government trying to implement its policies without continuity or rather mapping out at least 50 years implementation and when they do the next Government distort it. Of course most of us might not live to see the gains but for the sake of our future generations.

IMHO the best policies so far by this Government is deregulation of downstream petroleum sector and Naira flexibility. None of them is Buhari's idea.

Keneking:
Simply redecimalise the currency and you get 3.5Naira to 1 USD.

Cosmetics...

It's like calling N1k "N0.001 million".

You still have what you have...minus minting costs.

MRSALT:
With the present political structure of Nigeria that encourages laziness? Except Nigeria is restructured to encourage accountability and healthy competition, no economist whether Harvard trained or UNILAG professor will turn around Nigeria Economy. This is not about political affiliations, but about making Nigeria a conducive place for everyone to live, raise their children and enjoy life.

You have just stated my position: at the root of our economic woes, at corruption is a lack of a well structured nation.

But truth is stubborn: the 'fake', lazy states are going bankrupt an there is no where around it again

Keneking:
Simply redecimalise the currency and you get 3.5Naira to 1 USD.

Go ask Ghana how far?

Hear illiterate o. Anyway he is not an economist, let him stop questioning the wisdom of those who spent their time reading to get certificate while he abandoned his own education and fraudulently pursue a career in army.

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

The youth are vexing and rightly so. After all it's our future being mortgaged.

49cents:
The Naira was over-valued since oil became Nigeria's main stay and that discouraged diversification and industrialisation whilw promoting importation of everything due to cheap petrodollars

As it stands now, the smartest thing to reverse that trend is to further mark up the dollar to N400 and give tax paillaitives to companies, social buffers to Nigerians in terms of mass transport, housing schemes, food availability and quality education etc

In about 6 years Nigeria will find its self in a superb state

I understand and welcome the part where you suggested tax palliatives should be given to companies, social buffers to Nigerians in terms of mass transport, housing schemes, food availability and quality education etc but why should the dollar be further marked up to N400?

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

u dont need to be an economist to be the present. Any citizen can be, what u need is sound advisers and good systemic and institutional framework. Go sleep biko!

I’m not an economist neither a businessman, I fail to appreciate what is the economic explanation....

Then what are You

You can't expect an illiterate to act like harvard graduate

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

You really don't understand buhari,we don't have to use texbooks to solve Nigeria's problems cos it has failed in the past.What he meant was that we have to suffer now to diversify(that suffering will keep lingering in our brains and bring out the best in us). But as it is now those who wants to profit will profit,oil prices will rebound and we will still be mono-economy,everybody will relax to enjoy the free money that comes with it and sometimes in the 2040's we will be SHOUTING DEVALUATION AGAIN......

you got 41 likes so far with this post. i think about things like this when i hear people talk about how intelligent Nigerians are...

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

Ladies should please mobilize and protest butt nekkid for this duara gworo chewer impeachment ASAP coz youths wey no get money no dey easily marry o..Diz govt wil succeed in leaving many ladies unmarried due to lack of money from d guyz to marry.Protest on our behalfs.Thankyou

We all knew that devaluation while you import everything is counter productive. Why the outrage?

What is Buhari talking about. Is it not the structure of Nigeria that makes it a mono-economy, the dependencies enshrined by the constitution that cannot allow the economy to fly. Devaluation is the natural response to the failed economic state of the nation brought about by socio-political imbalances.

It is like a family that has the father as the sole breadwinner with a sit in wife and grown kids all feeding off his salary. When he gets a pay cut or loses his job it is natural to devalue the living standards of the family or they will go bankrupt. Buhari is always talking about living realistically. It starts with your purse, your currency. You devalue that first so that family members will be able to set their priorities individually. When you begin to cut the meals to twice daily, the cable tv to 3 channels and generator fuel to 1 hour a day, they will all find their way to do productive things. That is devaluation in a nutshell. It does not say stop watching tv, but it makes such decisions more circumspect.

So devaluation is not the evil, not the cause, but the fact that in a family, only one is working and that is risky, so while devaluation goes on, get others jobs to do. This is where most governments including the present grinds to a halt, bereft of ideas and trapped in the cage woven by parochial, self serving, ethno-centricism that creates a morbid fear of restructuring. He should just chose between Nigeria and his love for the status-quo and stop blaming a long standing, natural economic response to the crises.

Keneking:
Simply redecimalise the currency and you get 3.5Naira to 1 USD.

It boomeranged in Ghana. What makes you think it won't here.

No benefit anyway.

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

See someone asking for the president's certificate?

You don't know the difference between"where" and "were" buy you can rant online about someone whose achievements CAN NEVER BE MATCHED by any of your lineage. OK, kontunu.

Omo, NL get intellectuals gan o. Every body is just making sense.
I support everybody motion, y'all re trying but to make Nigeria a great country. But do you think we can achieve that if we dnt share love between ourselves, come to think of it, every single great country of the world only make it when the citizens share love among themselves, come down here in Nigeria, we hate ourselves, we have disgust for other tribe, the neighboring town dosnt love each other, the ibos want independence, for what? the Hausa's keeps killing the other tribes and religion, for crying out loud, what can we gain from this. the Yoruba's won't help anyone from another tribe even though its the country slightest opportunity to be great. Why can't we snub tribalism, favoritism, nepotism and all sort and let us embrace one another and share love between ourselves and togetherness we shall have a wonderful and a great country.


Nigeria- Good people, Great Nation.

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

where does your certificate took u to?