https://www.youtube.com/watch?v=LyuCgaCBWaU


Long live MMM

in summary when you leave the control and descion making of currency control in the hands of illustrate bdc Hausa men who will amrk it a habit to suck govt out and make a riddule of our national currency then expect the worse.

the banks should sell foreign currency alone not aboki mallams

other countries like Namibia Gambia bostwaba have higher value of their local currency greater than the value of naira yet how much inflow of dollars do they reciece so this pple should spare us cheap talk about oil price bla bla bla even when we oil price was 32usd as against 54usd we have as at today why haven't out currency fared considerably better



nm

Nigeria will never move from a "buy and sell" economy to a "produce and manufacture", as the Dr put it, until that thing called crude oil is almost worthless. As long as crude selling makes sense in the international market, Nigeria would never develop. Manufacturing can never strive in Nigeria until the cost of importing goods is almost at par or higher than making them locally, and that wont happen until the import tax duties discourage importation of certain goods/services, and ofcourse Nigerians would cry out when things start to get too tight. I believe we are a very corrupt people and we missed a great chance with the Military to get Nigeria on the right track. I however believe that if for some divine reason the price of oil crashes and stays so for a very long time, that might just be the push to allow us diversify our economy and start to begin to seriously consider looking into Making things and exporting them.

Our appetite for Dollars is crazy, thats why the Naira would never strengthen much against the dollar. But also you need to ask if those countries you mentioned stack away Dollars the way our politicians do.

Papertrail11:
in summary when you leave the control and descion making of currency control in the hands of illustrate bdc Hausa men who will amrk it a habit to suck govt out and make a riddule of our national currency then expect the worse.

the banks should sell foreign currency alone not aboki mallams

other countries like Namibia Gambia bostwaba have higher value of their local currency greater than the value of naira yet how much inflow of dollars do they reciece so this pple should spare us cheap talk about oil price bla bla bla even when we oil price was 32usd as against 54usd we have as at today why haven't out currency fared considerably better



nm

merely academic!

Abeg which new ponzi scheme don lauch make i drop 10k?

Hausa, Igbo and Yoruba are our major problem in this country. We need to eradicate their stupid lifestyle of buying and selling... #Findtrouble

THE PROF MAKE SENSE FOR THE WRITE UP....but i no read the write up

seguno2:


Yes.
Establishing mosques and other religious groups is lucrative business to the extent that the founder has sweet mouth.
Too many mentally lazy people who can't read even when it is summarised are willing candidates to make their religious leaders very rich.

I don't know about other religious places of worship but to establish mosques because you want to be making money, wrong investment.

Jeffrey12:
FTC space for sale... dunno what to comment

that is because this post is not for people like you

I said it few weeks ago,nobody want to go into manufacturing business reason unemployment is very high in africa

maasoap:

I don't know about other religious places of worship but to establish mosques because you want to be making money, wrong investment.

I guess that the Baba Adinnis are given chieftaincy titles for being poor?

"embarrassing instability suffered by the greenback in exchange for the US dollars"

A little research would have shown whoever did the introduction that US dollar is also known as greenback.
He tried to sound intelligent but the opening paragraph displays his ignorance.
/

incredible. 100% investment return within 24hours. check my signature. Too good to be true.

BMZK:
Is establishing mosque a lucrative business ?
Mr. lecturer needs some schooling...

Building of religious houses is now a lucrative business especially in dis part of our world..So i guess he was on point.

Just like how a currency trader was advising Nigerians to go and change all the Naira to Dollars so that he and his colleagues can make money from unnecessary demand on the Dollar.

Lordsocrates:
I blame the govt for this...
China has banned all forms of Ponzi scheme and wonder banks, and is in good control of its economy.

but in Nigeria, everyone wants to convert all the naira they have into bitcoin, billion coin, iPhone gift token etc... all this place pressure on the naira, as every tom, dick and harry is now demanding for the dollar, and the economic rule that once there is high demand, value shoots up... comes into plane... and no matter the amount of dollar pumped in, people will still rush to buy and convert to all these wonder banks.

and Nigerians instead of working will rather pump in the money, go back home to sleep, and pray for the value of their currency to fall, so that they make more money...

We are the ones contributing to our misfortune..but another peculiar thing about Us is we love to blame...and Buhari has no cert, hence the perfect person for us to blame for our misfortunes.. *We are the ones screwing ourselves up*

very true & this part about Yinka, Nnamdi and Dogo really cracked me up

The part about the HND/BSc got me cracking. You see, many PhDs from Columbia and Havard University are partly responsible for the financial crisis of 2008. With a few dollar contribution they'll say anything in a "financial expert" capacity. Specifically, Icelandic banks created the crisis in Iceland in connivance with Columbia/Havard PhDs when they gave their expert opinion that it is okay to use $100 billion in debt to finance foreign acquisitions. That amount dwarfed Iceland's GDP of $14 billion. Everyone knows the role Alan Greenspan, PhD, played leading up to the crisis, he's anti-regulation. What about our very own Iweala?

Contrarily, Hank Paulson (non-PhD but experienced) who was Treasury Secretary in 2006, Goldman Sachs CEO prior that, had the economy crashing down under his watch. When it comes to experience v. PhD, everyone could be just as bad especially when corruption and self-interest are the overriding factors.

My point being, oversimplifications(BSc bad, PhD good) such as the one suggested in this article is misleading, and doesn't reveal the fine details of a particular situation. How to spot a Nigerian academic? They think everyone else is stupid until they earn the PhD degree.

https://www.youtube.com/watch?v=L-vL9ROZZ08&feature=youtu.be

from this article and the way to Nigerian responded it shows our level of reasoning on how this issues and economic challenges can be resolve and with the set of people at the a of the affair I doubt it.

we have got a long way to go .


we need to work on infrastructure.
we need to work cost governance high budget should be placed security .. not the political looters
we need to work on collective responsibility the best of the nation should be at heart.
we need to work on citizenry
build a free duty trade zone for development of technology and manufacturing companies

Free duty to capital investor
tourism development.

we made the senator overpower our police . while the three arms of government is find in bribery .

Nigeria a land so blessed potentials but full of human errors.

you need a rebirth

seguno2:


I guess that the Baba Adinnis are given chieftaincy titles for being poor?

I will leave you to it since you already knew all these. No be only Baba Adinnis, why not put Iya Adinnis join am?

True Talk!

Lordsocrates:
I blame the govt for this...
China has banned all forms of Ponzi scheme and wonder banks, and is in good control of its economy.

but in Nigeria, everyone wants to convert all the naira they have into bitcoin, billion coin, iPhone gift token etc... all this place pressure on the naira, as every tom, dick and harry is now demanding for the dollar, and the economic rule that once there is high demand, value shoots up... comes into plane... and no matter the amount of dollar pumped in, people will still rush to buy and convert to all these wonder banks.

and Nigerians instead of working will rather pump in the money, go back home to sleep, and pray for the value of their currency to fall, so that they make more money...

We are the ones contributing to our misfortune..but another peculiar thing about Us is we love to blame...and Buhari has no cert, hence the perfect person for us to blame for our misfortunes.. *We are the ones screwing ourselves up*

While this piece is intellectually 'loud', it rings only the old bell of pointing out but not providing solutions in detail. The challenge of our economy is not as a result of what the writer termed 'HND and Bsc Managers' but more of the poor political will to do the right things and stick to what is working no matter whose ox is gored.

For instance; there can NEVER be any real manufacturing renaissance in Nigeria except there is constant power supply. How then do we ensure this? There is more than enough reason why the Niger Delta question must be addressed as the gas feeding our old and new power stations comes from there. Yet; it is not until recently when the government decide to engage the region.

A country doesn't just fly into an industrialized state - it is a serious process of planning and consistent implementation of identified key activities that will drive that vision. Unfortunately, Nigeria's political class only plays politics without minding the realities of the future!

adioolayi:
I wan book space before I read... why the thing long

This is deep...

"A cursory look at those charged with managing the Nigerian economy inspires no confidence. They themselves radiates little or no confidence. At the risk of sounding unmerciful, when you have HND and BSC holders managing the size of the Nigerian economy with potential for growth, then what you are likely to have is a stunted growth and uninspiring performance, both of the managers and the economy."

and then this....

"We have argued elsewhere and severally too, that, even though this buy and sell economic structure was instigated and built by colonial interlopers, Nigerian rulers and economic managers have not only perpetuated this structure, they have manage to even bastardized the structures to abysmal levels, especially during Jonathan era."

Where did you see Bsc holders running the economy?

I am interested. Please contact me via my signature.

Jeffrey12:
FTC space for sale... dunno what to comment

Anyone who lives in glass house should be wary of throwing stones. You call some people run of the mill HND and Bsc. Whether that is true or not, you have a PhD yet your write up has at least 5 grammatical errors! Normally I should have ignored the errors but 'With the same measure you measure for others it will be be measured unto you'.

Below are grammatical errors:


"...a country economic structures and processes captures the essence.."

"They themselves radiates little or no confidence..."

"...they have manage to even bastardized the structures..."

"...buy and sell process shows why everyone sell the same.."

"Nigeria have a long way to go."

No economically sensible person in zoogeria will save his money in naira. The currency is dead already, it's just waiting to be buried.

Buy dollars and keep even if it is a $20 bill/every 2 months, else all your labour and sweat to save will go down the drain.

I'm very sure that in my lifetime, I'll exchange 1 dollar for N5,000.

BMZK:
Is establishing mosque a lucrative business ?
Mr. lecturer needs some schooling...

Na wa for you o!
Can't you use your brain to deduce that he's trying to balance the blame by bringing in mosque than just saying churches alone.
Everyone knows that it is only the churches that are set up for profit making.

I hope you gat what I'm saying.

Deep sigh

I just want it to get back to 520 and when I'm done exchanging it can go back down all the way to 200, is that too much to ask?

are you a currency trader? of did you just buy dollars based on speculation?

abbey621:
I just want it to get back to 520 and when I'm done exchanging it can go back down all the way to 200, is that too much to ask?

NubiLove:
are you a currency trader? of did you just buy dollars based on speculation?

Nope I just make my money in dollars from my regular office job.