Jesusloveyou:
that is why i steal blame your ineffectual buffoon for what is happening.
When we have too much money to stop this importation(artificial) economy,
Too much money from oil and foreign reserve, he wasted it on importation of even tooth pick and all sort of oyibo sshit.

Do your research we ha e past this argument.
And tooth pick manufacturing is a whole lot complicated that you think .

Itumo?

IMF has been guilty of failed monetary advices since 1900...

All they know is DEVALUATION of other country's' currencies. They never advise America to devalue the dollar.

IMF with their slave master economic policy & theory. If you can't do their biddings by enslaving your nation to them they come up with all manner of jargons,I trust my president that he will stick to what he believes even if IMF put knife on his neck.

700-1000naira a dollar loading
Once crude hits the budget benchmark of $37 a barrel
We won't be able to fight the dollar war cos there wont be excess crude account

And then we must devalue
Right now crude $51.43
The bear will kill it soon

I am watching the know when to start piling dollars

erico2k2:

What's wrong with people like you ? ?
What U said up there is exactly what PMB FG is doing right now hence
https://www.nairaland.com/3716301/external-reserves-hit-two-week-low#55152428

you lack comprehension skil, i said emefiele is doing what he did under your ineffectual buffoon. And that is how your ineffectual buffoon and emefiele wasted our reserve on importation, even when we have oil boom.
Nevertheless, emefiele is doing better under buhari by using less than 200m dollars to defend the naira, unlike under your ineffectual buffoon when he wasted10b dollars within two months to defend the naira.

ijustdey:









https://www.thecable.ng/imf-hints-fresh-devaluation-says-naira-overvalued

and what has IMF said of China and Japan who forever undervalue their currencies to get cheap and uncompetitive access into the international market?

IMF's fangs are only beared on African nations. Just another western tool for neocolonialism.

Oga, you can correct and educate without insults.
The kobo idea is actually possible, but thats gist for another day.
Dollar affects all our imports so unless the farmers are doing without imported items, dollar price will affect them.
It's like asking how dollars affect local school fees or even pure water.
It's a roundabout route, but it does.

bombay10:



How can u bring it back to Kobo? How will you do that when you import everything. How can you make such a senseless statement. Experts are talking your moaning. What is the bag of local food including rice, yam , plantain,beans or will you say it is dollars that is affecting it? Or the soil is been imported too?

Oil controls Nigeria and once there will be more electric items or product likes cars soon in 10 to 15 years we will loose more as no buyers will come for our oil because it might also be cheap as kisses

Bros, pls stop spreading false information o!
I beg you o!!
CBN has spent over $2 billion this year to defend the naira, OK?

Jesusloveyou:
you lack comprehension skil, i said emefiele is doing what he did under your ineffectual buffoon. And that is how your ineffectual buffoon and emefiele wasted our reserve on importation, even when we have oil boom.
Nevertheless, emefiele is doing better under buhari by using less than 200m dollars to defend the naira, unlike under your ineffectual buffoon when he wasted10b dollars within two months to defend the naira.

But do you see the vast difference between us and those 2 nations?
Devaluation favours their exports, meaning stronger currencies easily buy their goods.
But devaluation helps us cos we'll afford less imports.
A better way is to increase import duties across board, while giving tax rebates to manufacturers and tax holidays to new/small businesses.

UltraLeslie1:
and what has IMF said of China and Japan who forever undervalue their currencies to get cheap and uncompetitive access into the international market?

IMF's fangs are only beared on African nations. Just another western tool for neocolonialism.

Modified-
All the above is academic and wasted breath so long as power supply and refining are poor.

erico2k2:

Your mumu get CV wahlai

Lol.
Bros, easy na.
Just keep him quiet with facts and superior arguements instead of insults.
Tns sir.

aloeman15:

Lol.
Bros, easy na.
Just keep him quiet with facts and superior arguements instead of insults.
Tns sir.

My Guy some twisted people deserve certain kind of responce that guy up there fall within that group I'm afraid

"Now that the Naira is gradually recovering, our biggest problem is the world Bank and the IMF". This is exactly what I said on this forum few days ago, but some people who don't understand the superstructure of how the global economy works were quoting me talking all types of thrash.

Obviously, their projected doom for the Nigerian economy isn't as bad as they've simulated it in their computer algorithm in Washington. Certainly, they're surprised and must release an urgent damning report to scare away potential investors from Nigeria to tighten the noose on the Nigerian economy until their will is done.

The world bank and IMF is one of the biggest threat to development in third world countries.

I understand sir.
But na make people know say your side pure.

erico2k2:

My Guy some twisted people deserve certain kind of responce that guy up there fall within that group I'm afraid

aloeman15:
But do you see the vast difference between us and those 2 nations?
Devaluation favours their exports, meaning stronger currencies easily buy their goods.
But devaluation helps us cos we'll afford less imports.
A better way is to increase import duties across board, while giving tax rebates to manufacturers and tax holidays to new/small businesses.
Modified-
All the above is academic and wasted breath so long as power supply and refining are poor.

Yes, poor local currencies help Japanese and Chinese goods compete favourably against western goods at the international trade sphere.

Devaluation will kill us without any export machinery and manufacturing infrastructure in place. Nigeria is an import-dependent country and cannot afford to devaluation. We export nothing but oil.

Not even any domesticated international brand in Nigeria to produce locally to ease the strain of currency parity.

For us to be enjoy devaluation, we should be sorted out our refinery and power issue as well as production and local consumption.

aloeman15:
You're clearly not a Christian, so why the moniker?
Who's more foolish, they who Imported 'sheet' or those who keep buying it?
Wherever you're from, I bet your state boasts of less than 2 manufactured items.
Since emefiele is doing the exact same thing. In fact, since buhari now seems to be copying all of gejs policies does that mean buhari is a copycat of an Ineffectual Buffoon?
And isn't it just plain stupidity to spend $2 billion in less than 2 months defending the naira? But since buhari has been directing policy from day one? Why would anyone blame emefiele for it?
Lastly-
22 months to come up with an economic plan?!
Come on, man!

i dont know who is lying btw you and cbn.
With what i know, Cbn release 85m dollars last wk, release 185m dollars last month, and the first one was when osinbajo was acting president,
So where did you see 2b dollars from feb-march

I am yet to see that country where IMF's strategies/advises helped in developing their economy. From Argentina, Brazil, Russia, Ukraine etc; it has been one story of woe to the other. Abeg, make dem leave us alone!

ijustdey:









https://www.thecable.ng/imf-hints-fresh-devaluation-says-naira-overvalued

i dont even know why any africsn country should listen to IMF.. they can go to hell with their help and policies

Ahmed0336:
This IMF na enemies of progress. Make dem come devalue am make we see.

what they are seeing is not what is happening.
Connect the dots.

This FG economic policies F9

Ahmed0336:
This IMF na enemies of progress. Make dem come devalue am make we see.

When we still dey struggle with the current value

E be like say person wan try thunder wey do press up

[color=#000099][/color] please who is IMF?
#sippingmyzobo

ephi123:
IMF should leave us alone!!

Don't mind the useless imf when Naira was suffering in d hand of dollar ,they could not see Naira was over valued then ........they should mind their business habba

bombay10:



How can u bring it back to Kobo? How will you do that when you import everything. How can you make such a senseless statement. Experts are talking your moaning. What is the bag of local food including rice, yam , plantain,beans or will you say it is dollars that is affecting it? Or the soil is been imported too?

Oil controls Nigeria and once there will be more electric items or product likes cars soon in 10 to 15 years we will loose more as no buyers will come for our oil because it might also be cheap as kisses

We are not yet at that particular future you are talking about here, so we can make free assumptions. Whatever tells you that the cloud is falling? I can see a better future where Nigerians got angry enough at the sorry state of their country to the extent that they effect a change that created a windfall of transformation in the sub-region.

I see a future where naira is the de-facto currency in West Africa, and when I say bring back the kobo, I mean 'bring back the old glory'. Imagination is free, you are free to tell me what the future holds from your standpoint. I am free to do likewise. We are capable of self-reinvention, we have hope.

I hope you have hope?

ANBAKO:
IMF - International Moda Fcukers!!!

The agent of the west to make the third world perpetually poor while they reap us and live on our resources.

Remember BRICS: Brazil was scattered with political instability, Russia with sanctions and political distraction, South Africa with political and ethnic destabilization...Scatter their credit rating! Only India and China are still surviving despite all opposition!!!

Which kind opposition. Na them 2 sabi kiss ass pass, they romance the west a lot by investing so much in their countries! So in return they get unfettered protection from economic sanctions! China is currently the largest investor in silicon valley e.t.c.

absoluteSuccess:


We are not yet at that particular future you are talking about here, so we can make free assumptions. Whatever tells you that the cloud is falling? I can see a better future where Nigerians got angry enough at the sorry state of their country to the extent that they effect a change that created a windfall of transformation in the sub-region.

I see a future where naira is the de-facto currency in West Africa, and when I say bring back the kobo, I mean 'bring back the old glory'. Imagination is free, you are free to tell me what the future holds from your standpoint. I am free to do likewise. We are capable of self-reinvention, we have hope.

I hope you have hope?

Keep dreaming...LOL ..The future is Making Nigerians enjoy Nigeria increasing standard of life with all the recovered loot and also stole wealth by our heads .......But we can all dream and reality might happen.....Basic amenities when achieved we can star looking at the economy! When Basic amenities is below 0. Electricity is a big minus...IS that the fault of Dollars? It is a very unstable environment

[quote author=absoluteSuccess post=55323000]

We are not yet at that particular future you are talking about here, so we can make free assumptions. Whatever tells you that the cloud is falling? I can see a better future where Nigerians got angry enough at the sorry state of their country to the extent that they effect a change that created a windfall of transformation in the sub-region.

I see a future where naira is the de-facto currency in West Africa, and when I say bring back the kobo, I mean 'bring back the old glory'. Imagination is free, you are free to tell me what the future holds from your standpoint. I am free to do likewise. We are capable of self-reinvention, we have hope.

I hope you have hope?[/quote


Keep dreaming...LOL ..The future is Making Nigerians enjoy Nigeria increasing standard of life with all the recovered loot and also stole wealth by our heads .......But we can all dream and reality might happen.....Basic amenities when achieved we can star looking at the economy! When Basic amenities is below 0. Electricity is a big minus...IS that the fault of Dollars? It is a very unstable environment

IMF has just presented us with the plain truth. Imagine for a nation that is a net exporter, how does appreciation of her currency translate to meaningful growth? We practically worship anything coming from outside the country. We produce rice, but foreign rice taste better for us. It is still unimaginable how a oil rich economy like ours still import refined oil.

The truth is, the current foreign exchange policy is sure to collapse this economy if adequate efforts are not put to balance our frivolous desires for foreign goods.

I really don't blame people who criticised IMF proposition. It just shows their level of understanding of FX. Foreign exchange policies and effects on the aggregate economy is just beyond how we perceived it to be.

Nigerians are always happy when they hear naira is appreciating, but the reason for this is not justifiable. Majority of us are, because with the appreciation; we are at the liberty of demanding for more foreign goods. Tell me, how does demanding for more and more foreign goods develop your country?

Yet, we hear people like that come out to say there's unemployment in the country, when ignorantly we are creating unemployment within and creating employment in other countries.

Did you not know, the more foreign goods you demand, the more the incentives for such foreign companies to produce more and invariably employ more?

At present naira is overvalued! Because Nigeria rarely produced capital goods to balance the FX earnings.

Lastly, to know if truly the appreciation of naira is helping your so loved economy, tell us why you are so happy the naira is appreciating if not to demand for foreign goods and services in return?

To a man with economic knowledge and a certified economist, what appreciation of naira does to our economy is to make our import demands cheap and make more expensive our export supplies. Thus, foreigners demand less of our products because to them it is expensive while we in return increase our import goods. Now, when this happens the domestic industries are disincentive to produce more and employ more hands.

But, as bad as it is, I ll strongly recommend CBN to not only see our foreign exchange problems as purely a monetary issue, but partly structural in nature. Thus serious fiscal policies are also to be considered in form of harmonization or coordination of both monetary and fiscal policies to achieve a sustainable and long lasting foreign exchange regimes capable of inducing desired economic growth and development.

Thank you.

absoluteSuccess:
Is dollar not overvalued?

Why must naira be 'undervalued'??

Naira is not yet valued as it should be.

We need to bring back the kobo.

#BringBackOldGlorynaira&kobo

It doesn't happen by force. By desecrating and devouring the land with malus hearded by zombie like creatures.

You to be able to think rationally to be able to effectively determine the faith of your currency,economy,living standard,and life expectancy. Black man is not thinking at the moment, that is why he is at the losing end.

over valued ke i cant buy anything for N10 anymore. where's the value in that?