What Do You Think Should Be Done To Appreciate Naira ? - Business (5)

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What Do You Think Should Be Done To Appreciate Naira ? - Business (5) - Nairaland

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Re: What Do You Think Should Be Done To Appreciate Naira ? by luskysylver(m): 2:54pm On May 09

are u expecting anything good from a failed political process.

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by maestroferddi: 2:54pm On May 09

ObidenceNeckpre:
Oponu Dullard, Exchange rate is directly proportional to importation. Buy made in Nigeria goods, discourage importation and the demand for dollars will fall same to its exchange rate. be productive than imported goods so it's the direct responsibility of both the citizen and govt to make this happen. STOP YAHOO YAHOO /CRIME to shirt cut wealth and make yourself a responsible, law abiding and productive citizen

When a dense APC supporter begins pointing out dullards...

Oga your shame dey catch me...

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by Jemex003: 2:55pm On May 09

MEEVEET:

First thing first listen to Peter obi interviews on moving from consumption to productions

Read and understand theory of comparative advantage

Then try and familiarize yourself with how developmental economics works

Now

Your revenue to debt servicing is already 110%
This means that you need to borrow 10% of what you earn to pay interests for the loan we have already borrowed

Recurrent expenditure is about 200% revenue that's the money needed to run government, pay workers, buy diesel for army, police and others

Does it make sense now to borrow money and do a very beautiful fine sweet costal road that would increase debt servicing/ recurrent expenditure and not increase revenue?

Does it not make sense to invest the loan into something that would increase revenue and at least pay back it's own loan? Is that not the logical thing to do?

How do you do this you would ask... By investing in your people like Peter obi said... How?

Let's take example a village in Benue... That village have 300 farming families and have 10,000 hectares... But can only farm 1000 hectares yearly due to manual labor

Now imagine CBN sends people to talk to this people... Why not put all your farms together and form a cooperative, each person shares being the percentage of farm they bring

Then as a cooperative you approach a bank nearest to you, they give you loan interest loans given to the bank by CBN

With this loan thy buy improved seeds, mechanize their farms

Not only would their yeild per hectares increase based on improved input they now farm more lands in far less time... So cost of production drops

They can still approach banks for more loan to process their products, for rice rice mill for cassava you can have ethnol , fruity juice for fruit farmers ,Feed mill for corn and soya bean farmers

These reduced the cost of production, make the price of foods to reduce and farmers richer

You don't do this by providing 75 billion to SMEs
You do this by providing minimum of 5 trillion years to banks at an interest rate of say 2% banks search for this cooperative, educate them, guid them and give them loan at say 7% interest rate

Must not be farms can he garments factory, leather works, ICT companies, etc

Now that's how you kick start economic growth

You’re comparing chemist to pharmacy

Re: What Do You Think Should Be Done To Appreciate Naira ? by TheBillyonaire: 2:55pm On May 09

Ban BDC Operations for 6 months.

Re: What Do You Think Should Be Done To Appreciate Naira ? by MrBONE2(m): 2:55pm On May 09

cenaman:
Impeach the BATeria in aso rock.

And clear all Potoor Obi Bitterness in people's blood grin

Re: What Do You Think Should Be Done To Appreciate Naira ? by inforesource: 2:55pm On May 09

gnss:
I don't do Politics of Tribe ,Hatred ,Hypocrisy .

Yesterday I was having a discussion with an Elderly Man an APC Party Man who is a Staunch Supporter of Tinubu about the Economy Situations .

He Said ,Kama Ton Arawaje ,Ilu Osunwon Rara ooo.

Meaning ,Without Deceiving ourselves the Things in the Country is not Okay at all.

He is a Yoruba Man ,I am too .

I do not Belongs to the Class of People that Believes even if The President Policies is not Working Good Results then I must Keep Talking like a Zombie ,

Let's face the Reality .

Things are Getting More Worse .

If you say ,You are Okay ,Several Millions are Sufferings ..Go to the Streets and see .

Now Objectively ..

Concerning the Dollars ,Finance ,P2P , Crypto Etc have been Blammed ,Yet Dollars Keep Rising .

WHAT EXACTLY DO YOU THINK THE GOVERNMENT ,CBN GOVERNOR SHOULD DO PRACTICALLY TO STRENGTHEN THE NAIRA ?

1. Stabilize power and repeat the process for a long time.

2. Production locally must be taken as a high priority.

3. Banks should do their work and finance real sector of economy than this money market they are doing.

SMES FOCUSED FINANCIAL POLICIES.

Do this and thank me later.

Re: What Do You Think Should Be Done To Appreciate Naira ? by Leebeedo(m): 2:56pm On May 09

First and foremost, tackle insecurity. Nothing can work without tackling insecurity. To achieve this, Nigeria needs the biometric data including DNA sample of everyone.

Secondly, encourage local production especially in agriculture. Give younger generation soft loan for agriculture.

Lastly, infrastructural development especially power generation and distribution.

If the government can achieve the above, other sectors of the economy will be impacted positively as FDI and export will increase drastically.

Re: What Do You Think Should Be Done To Appreciate Naira ? by udomonday: 2:56pm On May 09

The CBN has exhausted all its ideas,get ready to see naira fall to 5000.

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by Everlastingson: 2:57pm On May 09

gnss:
I don't do Politics of Tribe ,Hatred ,Hypocrisy .

Yesterday I was having a discussion with an Elderly Man an APC Party Man who is a Staunch Supporter of Tinubu about the Economy Situations .

He Said ,Kama Ton Arawaje ,Ilu Osunwon Rara ooo.

Meaning ,Without Deceiving ourselves the Things in the Country is not Okay at all.

He is a Yoruba Man ,I am too .

I do not Belongs to the Class of People that Believes even if The President Policies is not Working Good Results then I must Keep Talking like a Zombie ,

Let's face the Reality .

Things are Getting More Worse .

If you say ,You are Okay ,Several Millions are Sufferings ..Go to the Streets and see .

Now Objectively ..

Concerning the Dollars ,Finance ,P2P , Crypto Etc have been Blammed ,Yet Dollars Keep Rising .

WHAT EXACTLY DO YOU THINK THE GOVERNMENT ,CBN GOVERNOR SHOULD DO PRACTICALLY TO STRENGTHEN THE NAIRA ?

There are a few things that should be done. The first among them is to remove Tinubu from Aso Rock. When you have done this then we tell you the rest. As long as Tinubu is there no solution will work. You don't hire a lion to look after your antelope.

Re: What Do You Think Should Be Done To Appreciate Naira ? by MrBONE2(m): 2:57pm On May 09

Franklyspeakin:
impeach the president and vice,

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by andy4d2ofus(m): 2:58pm On May 09

CHRISSANCHEZ:
1. Free and fair elections.
2. Government appointments should be merit and fair to every geopolitical zones.
3. Fight insecurities.
4. Open and sincere policies.
5. Sincere and credible ministers.
6. Many more........

Does not relate to the question neither does it answer it

Re: What Do You Think Should Be Done To Appreciate Naira ? by searchlight: 2:59pm On May 09

gnss:
. Suggest What the Present Leader Can Do to Strengthen the Naira Against the Dollar.

Nothing because he's a square peg in a round hole.

Forget the naira dollar saga for now and be truthful to Nigerians. Cut government expenses, from FG to local government, use the money to invest in agriculture, and other critical infrastructure and aspects of our economy, encourage local production, empower ABA producers and other producers nationwide without tribalism, secure the country, and let the north go back to their farms, with that the economy will take shape and naira will be strengthened

How do we expect a crook like Tinubu to be sincere to Nigerians when everything about him is fraudulent? Being sincere to Nigerians is as good as resigning for I think things will keep getting worse until we decide to do the right thing as a country.

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by Sampi4me(m): 2:59pm On May 09

I have two solution, improve on the security of farmers in the Northern part of Nigeria this will boost food production and export.
Secondly , improve power generation, if it means channelling all resources to power, you will get it right. DONT BE Deceived IF YOU CAN GET NIGERIANS STABLE Electricity YOU WOULD HAVE SOLVED 75 %.

Re: What Do You Think Should Be Done To Appreciate Naira ? by Sampi4me(m): 3:00pm On May 09

Re: What Do You Think Should Be Done To Appreciate Naira ? by Lomprico2: 3:01pm On May 09

gnss:
I don't do Politics of Tribe ,Hatred ,Hypocrisy .

Yesterday I was having a discussion with an Elderly Man an APC Party Man who is a Staunch Supporter of Tinubu about the Economy Situations .

He Said ,Kama Ton Arawaje ,Ilu Osunwon Rara ooo.

Meaning ,Without Deceiving ourselves the Things in the Country is not Okay at all.

He is a Yoruba Man ,I am too .

I do not Belongs to the Class of People that Believes even if The President Policies is not Working Good Results then I must Keep Talking like a Zombie ,

Let's face the Reality .

Things are Getting More Worse .

If you say ,You are Okay ,Several Millions are Sufferings ..Go to the Streets and see .

Now Objectively ..

Concerning the Dollars ,Finance ,P2P , Crypto Etc have been Blammed ,Yet Dollars Keep Rising .

WHAT EXACTLY DO YOU THINK THE GOVERNMENT ,CBN GOVERNOR SHOULD DO PRACTICALLY TO STRENGTHEN THE NAIRA ?

Before you seek the solution, find out what caused it to shoot up in the first place.
Floating the dollar with naira, yeah right! Reverse that fucker!!!

Re: What Do You Think Should Be Done To Appreciate Naira ? by DMerciful(m): 3:02pm On May 09

If that is a solution, why is it rising again?

What they did was sell treasury bills and used the money to defend the naira. You can actually use hundreds of billions of dollars to force down exchange rate to 200. Question is do you have that money? Even if you have, how sustainable is it?

Again, there's no sustainable quick fix APC already ruined things...it will take a lot of hardwork to get exchange rate to fall genuinely

lionshare:

I don’t like to be condescending but you should only comment on what you understand.

You said no short term solution yet the price dropped from peak of N1950 to N1000 before depreciating to N1400. Which long term problem or short term solution is responsible for this changes?

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by agabaI23(m): 3:03pm On May 09

cenaman:
Impeach the BATeria in aso rock.

I saw the post and I was coming to type that tge president and the deputy should resign.

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by Father4all: 3:03pm On May 09

Remove Tinubu

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by Raymondfayowole(m): 3:04pm On May 09

FashionCookie:
After they'll say d leaders are clueless. Oya "intelligent" pple we dey wait.
See as everywhere dry....😆 🤣

You don't need phd in economics to know the long term solution.

How many Nigerians can comfortably afford or enjoy basic amenities like good health, shelter, security, food, good water, good road and education.

We underestimate the importance of research in this part of the world. The world has left Africa and most especially Nigeria behind and we are here thinking of how to bring the dollar down.

The govt should focus on these basic things with the aim of making the country a production country and not depending on the dollar to import everything we use in the country,

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by MichaelSokoto(m): 3:06pm On May 09

MEEVEET:

First thing first listen to Peter obi interviews on moving from consumption to productions

Read and understand theory of comparative advantage

Then try and familiarize yourself with how developmental economics works

Now

Your revenue to debt servicing is already 110%
This means that you need to borrow 10% of what you earn to pay interests for the loan we have already borrowed

Recurrent expenditure is about 200% revenue that's the money needed to run government, pay workers, buy diesel for army, police and others

Does it make sense now to borrow money and do a very beautiful fine sweet costal road that would increase debt servicing/ recurrent expenditure and not increase revenue?

Does it not make sense to invest the loan into something that would increase revenue and at least pay back it's own loan? Is that not the logical thing to do?

How do you do this you would ask... By investing in your people like Peter obi said... How?

Let's take example a village in Benue... That village have 300 farming families and have 10,000 hectares... But can only farm 1000 hectares yearly due to manual labor

Now imagine CBN sends people to talk to this people... Why not put all your farms together and form a cooperative, each person shares being the percentage of farm they bring

Then as a cooperative you approach a bank nearest to you, they give you loan interest loans given to the bank by CBN

With this loan thy buy improved seeds, mechanize their farms

Not only would their yeild per hectares increase based on improved input they now farm more lands in far less time... So cost of production drops

They can still approach banks for more loan to process their products, for rice rice mill for cassava you can have ethnol , fruity juice for fruit farmers ,Feed mill for corn and soya bean farmers

These reduced the cost of production, make the price of foods to reduce and farmers richer

You don't do this by providing 75 billion to SMEs
You do this by providing minimum of 5 trillion years to banks at an interest rate of say 2% banks search for this cooperative, educate them, guid them and give them loan at say 7% interest rate

Must not be farms can he garments factory, leather works, ICT companies, etc

Now that's how you kick start economic growth

are u Mr. Nnaemeka Obiaraeri?

Re: What Do You Think Should Be Done To Appreciate Naira ? by ehemwhy(m): 3:09pm On May 09

Our highest Imports are :
1.Petroleum Products: Despite being an oil-producing country, Nigeria still imports petroleum products due to limited refining capacity.
2. Vehicles and Automotive Parts:
3. Iron and Steel Products:
4. Food Products:
5. Chemicals and Pharmaceuticals:
5 Textiles and Clothing:

We've reached a critical juncture where we recognize that our destiny lies within our control. It's time to approach production as if our livelihoods hinge on it. Let's tackle one industry at a time, beginning with steel. By boosting our steel production, we can eliminate the need for importing steel altogether

If the refineries fulfill their promise to resume operations, we can expect a significant reduction in the demand for dollars required for imports

We used to have a very large textile industry in the North and Lagos , lets revive them , We need to begin to look inwards .

Must we build houses with 100% concrete when there is mud ?
Must we deck our houses with iron rods when Bamboo can suit just fine?
if we line up the proposed coastal Highway with wind turbines we can add some megawatts to our National Gird .
why cant we support Innoson and Proforce to assembly cheap cars . Russia did it their Lada's .

we can start from there .

Re: What Do You Think Should Be Done To Appreciate Naira ? by achorladey: 3:10pm On May 09

gnss:
I don't do Politics of Tribe ,Hatred ,Hypocrisy .

Yesterday I was having a discussion with an Elderly Man an APC Party Man who is a Staunch Supporter of Tinubu about the Economy Situations .

He Said ,Kama Ton Arawaje ,Ilu Osunwon Rara ooo.

Meaning ,Without Deceiving ourselves the Things in the Country is not Okay at all.

He is a Yoruba Man ,I am too .

I do not Belongs to the Class of People that Believes even if The President Policies is not Working Good Results then I must Keep Talking like a Zombie ,

Let's face the Reality .

Things are Getting More Worse .

If you say ,You are Okay ,Several Millions are Sufferings ..Go to the Streets and see .

Now Objectively ..

Concerning the Dollars ,Finance ,P2P , Crypto Etc have been Blammed ,Yet Dollars Keep Rising .

WHAT EXACTLY DO YOU THINK THE GOVERNMENT ,CBN GOVERNOR SHOULD DO PRACTICALLY TO STRENGTHEN THE NAIRA ?

Reverse what they did to plunge us into this mess which was subsidising the Iives of generations on irrelevant products, goods and services that can be readily done here in order benefit few Nigerians.

The country must look inwards and grow all local content we need to grow our economy to the required optimum and consumption. Starting with the food security, security of lives and the energy sector.

The suffering will persist for days and years since the damage was perpetrated for years as well therefore the need for endurance and patience on part of those committed towards achieving it not on those bent on the need to keep selling this country out under the guise of SUBSIDY.

Re: What Do You Think Should Be Done To Appreciate Naira ? by Holaomoakin(m): 3:11pm On May 09

The only solution is that Nigerians should run away through any of their borders to other countries.. run run

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by Rhimat(f): 3:13pm On May 09

Improve rural roads to promote agricultural transportation.
Increase in production of agricultural goods.
Increase oil production Nd increase in security
Reduce tax, electricity tariff, school fees
Building modernized medical infrastructure
Supplying modernized agricultural equipments
Increase in security etc

Re: What Do You Think Should Be Done To Appreciate Naira ? by criuze(m): 3:14pm On May 09

Appease the igbos and give them their rights the country will be better

This is a divine instruct

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by seunayantokun(m): 3:15pm On May 09

First, no good economy lives in or survives insecurity of lives and properties. And, there is no strong currency in corruption birthed and/or sustained by ethnopolitical agenda with religious colouration.
1. So, to start with, there must be security of lives and properties. STATE POLICE, LOCAL COUNCIL POLICE. EACH STATE MUST RUN ITS PRISON SERVICES TOO. If we like, we can go regional.
2. Production, starting with agriculture and allied businesses at state and local council level.
3. Don't stand aloof, be involved.

Let me note that we should all be on the neck of those chaps in the national assembly to change police act and correctional services act now and make room for state and local council policing as obtainable in the US and UK, rather than shouting remove this, remove that. The future is bleak as it is now but we can change it, otherwise the breakfast will be served everybody. At that point, total break up will be inevitable, since we have rejected restructuring. It is possible at this time, but if we keep on being frivolous until another Buhari or Atiku gets it, forget it. If you talk under them, they will treat you the way Nnamdi Kanu and Sunday Igboho have been treated. Wise up.

Re: What Do You Think Should Be Done To Appreciate Naira ? by Love800(m): 3:16pm On May 09

Sorry, i want to ask.
Is it a bad tin if we attract foreign investors? Am not saying we shouldnt fund our locals oh. Jusk asking, to know.

Gbogbowa:
how do you expect Tinubu to do this when he is a victim. Cut the cost of governance,stop budget Padding,spend money on pressing needs not coastal high way,make it easy and simple to export Nigeria made products,stop looking for international investors but fund local production,make Agriculture attractive to graduate,invest more in football as means of employment lastly ask Nigerians and Obi for forgiveness for Rigging the election and ask God for forgiveness for running a Muslim Muslims ticket

Re: What Do You Think Should Be Done To Appreciate Naira ? by leokid866: 3:16pm On May 09

criuze:
Appease the igbos and give them their rights the country will be better

This is a divine instruct

it's crazy how the same set of people told Adaka Boro it was their divine right to rule Nigeria and death was his punishment for trying to break up the nation......

Re: What Do You Think Should Be Done To Appreciate Naira ? by Enemyofpeace: 3:16pm On May 09

The federal government should share all our money and assets to Nigerians, sell Nigeria to China and tell everyone of us to go our various ways

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by qtx(m): 3:18pm On May 09

MEEVEET:

First thing first listen to Peter obi interviews on moving from consumption to productions

Read and understand theory of comparative advantage

Then try and familiarize yourself with how developmental economics works

Now

Your revenue to debt servicing is already 110%
This means that you need to borrow 10% of what you earn to pay interests for the loan we have already borrowed

Recurrent expenditure is about 200% revenue that's the money needed to run government, pay workers, buy diesel for army, police and others

Does it make sense now to borrow money and do a very beautiful fine sweet costal road that would increase debt servicing/ recurrent expenditure and not increase revenue?

Does it not make sense to invest the loan into something that would increase revenue and at least pay back it's own loan? Is that not the logical thing to do?

How do you do this you would ask... By investing in your people like Peter obi said... How?

Let's take example a village in Benue... That village have 300 farming families and have 10,000 hectares... But can only farm 1000 hectares yearly due to manual labor

Now imagine CBN sends people to talk to this people... Why not put all your farms together and form a cooperative, each person shares being the percentage of farm they bring

Then as a cooperative you approach a bank nearest to you, they give you loan interest loans given to the bank by CBN

With this loan thy buy improved seeds, mechanize their farms

Not only would their yeild per hectares increase based on improved input they now farm more lands in far less time... So cost of production drops

They can still approach banks for more loan to process their products, for rice rice mill for cassava you can have ethnol , fruity juice for fruit farmers ,Feed mill for corn and soya bean farmers

These reduced the cost of production, make the price of foods to reduce and farmers richer

You don't do this by providing 75 billion to SMEs
You do this by providing minimum of 5 trillion years to banks at an interest rate of say 2% banks search for this cooperative, educate them, guid them and give them loan at say 7% interest rate

Must not be farms can he garments factory, leather works, ICT companies, etc

Now that's how you kick start economic growth

One of the very best tips in here!

Re: What Do You Think Should Be Done To Appreciate Naira ? by Kaa4(m): 3:19pm On May 09

CHRISSANCHEZ:
1. Free and fair elections.
2. Government appointments should be merit and fair to every geopolitical zones.
3. Fight insecurities.
4. Open and sincere policies.
5. Sincere and credible ministers.
6. Many more........

7. Appoint credible people to Government positions
8.Reduce the number of Ministers and Special appointees
9. Eliminate corruption
10. Bring in inclusive polices; for example, why should Dangote be importing crude?
11. More transparency in governmental expenditure, and a few more
Capital Flght is what is happening. The exchnage rate floatation messed the economy up

1 Like

Re: What Do You Think Should Be Done To Appreciate Naira ? by MichaelSokoto(m): 3:22pm On May 09

solution is very simple & near us yet we look farther into sokoto for answers inside our shokoto!

Declare immediate red alert emergency on banditry & herdsman in our forests, effectively eliminating dem & driving dem far into d sahel & watch our locals go back to d farm & bring out food in d next 3 to 6 months.
Dis will greatly relieve d masses off massive food spending.

Replace Mele Kyari, put Marwa there. Sell all our totally dead refineries. The remaining working ones, sell it to Nigerian public or dash strong igbo men to run it 4 u!

Make #100 our highest denomination & switch back to coins. Kidnappings, armed robbery , vote buying & remaining elements of banditry will die a natural death!

These are Jez d fewest I can freely give now!
cool

* modified *

Oh I 4got!

Send Dangote into exile asap!

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