deji17:




https://businessday.ng/news/article/weaker-naira-drives-up-foreign-demand-for-local-products/?amp=1

My wife brought in Smoked curved fish from 9ja worth of 27k fish only o from billz of 100k, she said since naira is weak, we can quick bring in things, dry pap is next, I don see the billing, e dey Second reading fr my Senate chamber

This government and hardship is like freestuff aka olasukanmi who is clearly suffering pretending ro be a big man here 🤣🤣🤣🤣

Anybody who did this to black people and particularly Nigerians will never prosper or see good things. If a weaker currency is good UK and America will be in the lead.
Where is Zimbabwe today?

Oshi rata repo ma rayo.
The weaker the profit for crypto arbitrage Trading

deji17:




https://businessday.ng/news/article/weaker-naira-drives-up-foreign-demand-for-local-products/?amp=1

This is a case of double wahala for deadi bodi

PBAT is pulling the string of Chinese economic strategy after WWII the CNY was devalued and floated to attract cheap labor and reduce the cost of Chinese products for the foreign market to attract more exports which led to the inflow of more FOREX because most countries' currencies were higher than CNY as at then.
At this point, most American tech giants and others began to move their production lines to China 🇨🇳 because of cheap labor which will automatically reduce the cost of production, and product costs and increase sales. Today China 🇨🇳 is the 2ND most developed economy in the world because of this strategy, it was a tough time for China just like present-day Nigeria.
Pres BAT should not bow to the pressure of reversing his policies, he is on the right path of economic restoration and nation rebuilding (Destruction of old structures must happen before a better structure can be rebuilt).
To make the most use of this time learn to export your products and services to the neighboring country, the businessman's testimony is an eye eye-opener for the wise.
In the meantime, PBAT should ensure food security and national security. Take it or live it PBAT is a genius in economy and he might be one of the most celebrated heroes of our time. Nigeria will be great,

ehikwe22:


Something is wrong with your brain

use the right word many things are wrong with his brain. How many Nigerians have access to the advanced technological development in other countries even social services you think exportation is all about the low standard quality in Nigeria,if you don't know some of our foodstuffs are smuggled to Europe because it is not of international standard. Until your government is serious about investment and standardization of Local products kiss the economy goodbye

Lies
Who is buying your substandard goods
How effective are quality assurance & control bodies in Nigeria
Quality is dropping daily
They’d definitely buy raw materials dirt slave wage cheap and go upgrade in their home
They say this is what happens when you’ve got cultists & warlords rather than true visionnaires & technocrats piloting the affairs of a state.
Lies & propaganda steadily

forgiveness:
I actually agree. Naira had more value than won but Korean economy is bigger than Nigeria thus making them more wealthy and richer than Nigeria because they export more products.

Korea is a producing nation not a consuming Nation like Nigeria, we don't produce anything for export aside oil.
Weaker currency will impoverish the people.

An economic formula by a drunken fellow, either the headline or presentation is faulty or the Buffon is a praise singer. Let him list out the export product we have an edge on in the international market

9jatriot:
China will give an arm and a leg to have this kind of exchange rate but America non gree.

Nigerians will always say with pride we are an export country. Go to Alibaba.com and see very young Chinesse, probably less than 22 on the internet trying to sell products to international buyers, all we sabi na spend time on social media and form sophistacted because we sabi speak small English

So which one are u doing?

These guys are clowns! Real jokers. You cant allow such rubbish to be posted on this forum. Such post makes nairaland a not so serious forum. Like wtf!

spiSeyi:
PBAT is pulling the string of Chinese economic strategy after WWII the CNY was devalued and floated to attract cheap labor and reduce the cost of Chinese products for the foreign market to attract more exports which led to the inflow of more FOREX because most countries' currencies were higher than CNY as at then.
At this point, most American tech giants and others began to move their production lines to China 🇨🇳 because of cheap labor which will automatically reduce the cost of production, and product costs and increase sales. Today China 🇨🇳 is the 2ND most developed economy in the world because of this strategy, it was a tough time for China just like present-day Nigeria.
Pres BAT should not bow to the pressure of reversing his policies, he is on the right path of economic restoration and nation rebuilding (Destruction of old structures must happen before a better structure can be rebuilt).
To make the most use of this time learn to export your products and services to the neighboring country, the businessman's testimony is an eye eye-opener for the wise.
In the meantime, PBAT should ensure food security and national security. Take it or live it PBAT is a genius in economy and he might be one of the most celebrated heroes of our time. Nigeria will be great,

According to you "PBAT is a genius in economy". How can someone be a genius in "economy"? What type of English is that?

You are comparing nigeria with China. Pls which "cheaper labour" is Nigeria going to attract by devaluing the naira?

Which products is Nigeria producing that will become cheaper for exports? Export to where exactly?

How should Tinubu ensure food security and national security?

forgiveness:
I actually agree. Naira had more value than won but Korean economy is bigger than Nigeria thus making them more wealthy and richer than Nigeria because they export more products.

Lol. It is not about the value of naira but the RATE at which it is losing value which is causing undue hardship to people on salaries.

If the value of naira to dollar is 2000, but has remained like that for 5 years then naira is regarded as a stable currency that can store value.

forgiveness:
I actually agree. Naira had more value than won but Korean economy is bigger than Nigeria thus making them more wealthy and richer than Nigeria because they export more products.

Which Korean won?

It will not be well with T

Bebigiby1:
The economic mathematics been peddled by these analysts posted By BusinessDay regarding argument about local export benefiting from weak currency is a farce and unrealistic... There is no economic benefit of weak devalued naira as Nigeria is majorly an import driven economy.... The infrastructural deficit as regards high cost of reliable electricity, transportation et al will erode any competitive advantage if you produce locally in Nigeria.... The only solution is for naira currency to appreciate in value and this can be achieved if politicians stop looting our public funds, refine fuel locally (Government must build and operate at least one refinery) and reduce the cost of government by dissolving duplicate ministries, parastatals and pubic offices including reducing the number of senators, reps and ministers.... The current system of government is bloated and too expensive......

This is an example of Buharionomics. The belief that economic issues are solved with anti corruption.

No country would want Nigeria produce. Even our local rice will can’t export because its even more expensive than the polish foreign rice.

Tinubu needs to reverse the policy on subsidy. At least take Nigeria back to where he met it. 750 to dollars and 200 fuel price.

Mad people everywhere

lexy2014:


According to you "PBAT is a genius in economy". How can someone be a genius in "economy"? What type of English is that?

You are comparing nigeria with China. Pls which "cheaper labour" is Nigeria going to attract by devaluing the naira?

Which products is Nigeria producing that will become cheaper for exports? Export to where exactly?

How should Tinubu ensure food security and national security?

People exporting goods including processed agricultural goods, and services are making a killing. Every dollar brought into the country swells the naira you have.

Imagine if we had great hospitals which attracted patients from around the world in the same fashion as India and your doctors are still paid in naira.

forgiveness:
I actually agree. Naira had more value than won but Korean economy is bigger than Nigeria thus making them more wealthy and richer than Nigeria because they export more products.

Korea is exporting finished products Nigeria is exporting raw materials and making itself poorer.

N!G€RI@N M€N are Uzelezz..... all of them

Kay17:
People exporting goods including processed agricultural goods, and services are making a killing. Every dollar brought into the country swells the naira you have.

Imagine if we had great hospitals which attracted patients from around the world in the same fashion as India and your doctors are still paid in naira.

Where? What agricultural goods and produce are being exported? This is a sincere question as I have no idea what actual goods Nigeria currently manufacture and exports.

They are selling these products at what rate abeg? I figure cost of processing and production in Nigeria is not cheap at all compared to other more stable economies out elsewhere.

fineboynl:
No country would want Nigeria produce. Even our local rice will can’t export because its even more expensive than the polish foreign rice.

Tinubu needs to reverse the policy on subsidy. At least take Nigeria back to where he met it. 750 to dollars and 200 fuel price.

But there is the problem of priorities. Bringing back fuel subsidies and reverting the FX rate to 750 or whatever means we are not spending more money on our refineries, education or health or bulletproof vehicles.

Kobojunkie:
Where? What agricultural goods and produce are being exported? This is a sincere question as I have no idea what actual goods Nigeria currently manufacture and exports.

It will surprise you. People export cash crops, legal and financial services. People earn in FX due to tech.

Kay17:
■ It will surprise you. People export cash crops, legal and financial services. People earn in FX due to tech.

I don't like stories.. answer the questions.

Where? What agricultural goods and produce are being exported? This is a sincere question as I have no idea what actual goods Nigeria currently manufacture and exports.

They are selling these products at what rate abeg? I figure cost of processing and production in Nigeria is not cheap at all compared to other more stable economies out elsewhere.

rockyh:
use the right word many things are wrong with his brain. How many Nigerians have access to the advanced technological development in other countries even social services you think exportation is all about the low standard quality in Nigeria,if you don't know some of our foodstuffs are smuggled to Europe because it is not of international standard. Until your government is serious about investment and standardization of Local products kiss the economy goodbye

Petro-socialism is not sustainable.

Kobojunkie:
I don't like stories.. answer the questions.

Where? What agricultural goods and produce are being exported? This is a sincere question as I have no idea what actual goods Nigeria currently manufacture and exports.

They are selling these products at what rate abeg? I figure cost of processing and production in Nigeria is not cheap at all compared to other more stable economies out elsewhere.

I just said cash crops… cocoa, cashew, tobacco, timber and the likes. Some companies process these at some level and export.

Kobojunkie:
I don't like stories.. answer the questions.

Where? What agricultural goods and produce are being exported? This is a sincere question as I have no idea what actual goods Nigeria currently manufacture and exports.

They are selling these products at what rate abeg? I figure cost of processing and production in Nigeria is not cheap at all compared to other more stable economies out elsewhere.

Some costs of production will be variable with the dollar but most are not. Labour costs will largely be denominated in naira, the land and/or factory similarly in naira, transportation will be in naira, financing will be in naira not dollars.

Other countries have tried this same formula. It is not rock science. Besides, there is a cost in being an import driven economy based on petro-socialism. If the money used to prop an overvalued naira for the elite was used for better priorities like healthcare and education we improve our Labour force. Amongst 200m people, we should be able to find sufficient geniuses that can innovate.

SalamRushdie:
Which local product? APC and tomfoolery

You dey mind them.
In a few days we will see the evidence of their foolishness in saying what they don’t mean. Just a few days from now.

The likes of seunmsg mccullum duro4chang thefacelessman wickedfacts etc can never show face here...