OfficialAPCNig:

Talk for yourself, I know a bleeping number of people that don't depend on this country for any salary.

100% of their income are made oversea and in dollars.

Those kind of people are shedded from Buhari's next level.

Don't forget that the rate of changes in the exchange rate is always greater than the rate of changes in general price level.

motherfucker:
una be mumu... what is the difference between that and now when price of things will shoot up? It is like increasing salary and increasing tax at the same time. no changes.

dadavivo:
When will Buhari return the price of dollar to where Goodluck Jonathan left it for him.

bigpicture001:


No its not correct....cost of housing is very expensive becuz got does not participate in mass housing schemes for middle class....

Go to states where govt participate in mass health care, transport etc along with private, you will notice that the rate of increase in charges by the private sectors is very slow...

Same way it will b for the forex market...dándote can't dominate it...he can't inject more revenue than the FG. the will only take care of shortfalls nd still makes his profit..only market forces will fix the exchange rate..nit dangote

In all its far better than foreign investors

nwanneni:
cost of housing isn't affordable because government does not participate in mass housing schemes?so why is housing affordable In Onitsha then?did government build houses for the masses in onitsha too
What is the meaning of free float ?he meant he will do it without government participation at all.and there would be bureau de change of course but how much forex can they bring In As xompared to him ?so he will still dominate that market and rule it without cbn intervention so las las he gets to fix forex pricing in Nigeria which will be very dangerous.
No government can accept that.

TheFacelessMan:


Coincidentally, my income is in USD.

This Government with its fumbling handling of the economy actually tripled my income.

BUT will i because it favours me forget about all other relatives, friends and even foes earning in Naira?

That's a myopic way of thinking.

bigpicture001:


The cost os house became quite affordable because 1st the supply of houses outweigh it demand...reason being that may people don't see on its game as a modern city..most houses don't hv water running in them..mist occupiers are traders, lest making it unattractive for ppl dt are not traders...

Again the plague of bandits nd thuggery scares people from osha..truth is all this has been fixed now..but the stigma is still attached to it. Most hotels are newly built...most relaxation spots are newly built..meaning all this year's, it's just a residential - trading town...aika which is more open has house prices to the heavens.. including asaba..

When we say floating it's means without control. You are correct...but it's been long CBN deregulated the supply side of the forex market to encourage investors and forex inflows...but they are yet to deregulate the demand side of forex...hence they require all forex demand to pass tru the CBN. Through the banks.

That will make a private operator to lose a lot of client who might need forex from beraue de change for importation of items or services blacklisted by the CBN....hence with d CBN control of the demand, they say it's a fixed exchange rate market

Billy0naire:
This is the best time to join the Yahoo Yahoo Boys Incorporated (YYBI). I know the Yahoo Boys will smile when reading this news.

Now I envy them, cos the naira is about to hit 500 naira per dollars in a few months. And they just make money while wearing only boxers in their rooms.




Buhari is tired of experiments. Now is the time to know the true state of our economy. The FDIs will increase, and the economy will be better for it, but our consumer goods will face certain inflation. But we will get used to it, because it is the best thing to do.

Float the currency, and force people to consume locally made products.

dadavivo:
When will Buhari return the price of dollar to where Goodluck Jonathan left it for him.

Ijaya123:


When the price of crude oil returns to the rate it was under GEJ regime, that is at over $100 per barrel.




That has always been the prayers of Nigerians since time immemorial. Nothing new.

Damilaresammy:
Okay finally the price of fufu will reduce and naira will be equal to dollar

TheFacelessMan:


Coincidentally, my income is in USD.

This Government with its fumbling handling of the economy actually tripled my income.

BUT will i because it favours me forget about all other relatives, friends and even foes earning in Naira?

That's a myopic way of thinking.

yaki84:

bro if crude price shud up to 100dolls, u will be buying fuel at 200+ naira a litre under this admin.

Iwanttoto1:


Tnks God says, all my money done converted to dollars.

Billy0naire:
This is the best time to join the Yahoo Yahoo Boys Incorporated (YYBI). I know the Yahoo Boys will smile when reading this news.

Now I envy them, cos the naira is about to hit 500 naira per dollar in a few months. And they just make money while wearing only boxers in their rooms.




Buhari is tired of experiments. Now is the time to know the true state of our economy. The FDIs will increase, and the economy will be better for it, but our consumer goods will face certain inflation. But we will get used to it, because it is the best thing to do.

Float the currency, and force people to consume locally made products.

Ijaya123:

That is if Subsidy is removed totally.

nwanneni:
you are not alone bro.i can't wait for the naira to somersault once more so we start hitting that mad dough again.

Billy0naire:
This is the best time to join the Yahoo Yahoo Boys Incorporated (YYBI). I know the Yahoo Boys will smile when reading this news.

Now I envy them, cos the naira is about to hit 500 naira per dollar in a few months. And they just make money while wearing only boxers in their rooms.



Bi


Buhari is tired of experiments. Now is the time to know the true state of our economy. The FDIs will increase, and the economy will be better for it, but our consumer goods will face certain inflation. But we will get used to it, because it is the best thing to do.

Float the currency, and force people to consume locally made products.

dadavivo:
When will Buhari return the price of dollar to where Goodluck Jonathan left it for him.

Sirheny007:
'Between 2015 & 2018, the cost of living has been at an all time rise for the average Nigerian, WITH NO END IN SIGHT'

shigoslim:



Nigeria has low production and consumed more foreign production.
Our exportation is minimal to importation.... hence naira will keep depreciating.
If FED government truly love Nigerian let them destroy the power of monopoly in the like of Dangote and others and allow total capitalism economy .
Empower the jobless youth through small and medium scale enterprise.
Give tax holidays to small scall businesses, to allow them expand their business for a while , total diversification of the economy from monoculture economy.
Subsidies farms tool , established local farm preservation throughout the 36b state.
Nigeria economy will bounce back within shortest time .

yaki84:

what's subsisy pls?

am a buharist n dont knw what subsidy means...
who is subsidizing who?

nwanneni:
All the bad things you said about onitsha happens in Lagos too.
Now my model is not about the social part of the town but how it could solve it's housing issues in the first place.
The people took to trading to solve it's liquidity issues.more people became custodians of disposable income and houses started springing up everywhere.
Now if manufacturing or trade can boom too the way it did there in other places then liquidity will no longer be an issue and housing will no longer be an issue too.
No where in the world did government totally solved it's housing problems for its people.private sector owns that aspect.im not saying government doesn't provide housing though.
I think we both are driving to the same thing but my only issue was letting dangote solely solve Nigeria forex forex problems with the model you proposed.that will not be good.
If he wants to build more factories to counter import then fine but bringing in liquidity to dispose as a bureau de change without cbn regulation is a no no.
If you give him just a year to do that then he will become so rich that trying to reregulate the market with buffers will not work.hence one will be forced to either yield to his demands or risk a major economic meltdown

dadavivo:
When will Buhari return the price of dollar to where Goodluck Jonathan left it for him.

dadavivo:
When will Buhari return the price of dollar to where Goodluck Jonathan left it for him.

pacespot:
I hope this didn't JumpStart a new regime of inflation and crash of naira against dollar, before where is the market that will determine the exchange rate, Nigerians that are very manipulative. though I think this is a lure towards the foreign investors.