Eluwilussit:


Nigerians never see nothing. An idiiot(buhari) talking rubbish. What's the exchange rate of Chinese yuan renminbi to the dollar? Doesnt it occur to these imbeciles that China and some other rogue nations constantly devalue their currencies to their advantage? Even Japan and Russia too.

The problem with exchange rate in nigeria is that we are a consumer nation. We buy every rubbish from overseas. If we look inward and produce more of the things we need and for the rest of Africa, then a weakened Naira becomes an economic advantage.

Since we buy almost everything, a weak naira is the last thing we need. It is so because people like Buhari are even considered for the job of the president of Nigeria in the first place. Imagine claiming to have the power to make naira equal to the dollar: how does that sound to his illiterate followers? Stabilizing the oil price as well. Na wa o. Nigerians are really dumb.

Someone who couldn't improve his personal lot in the last 29 years, claiming to have the ability and know-how to change our economic fortunes. I pity nigerians and their myopic way of looking at issues. This is what tribalism and religious bigotry can cause. Square pegs in round holes. Such a shame.

jmaine:



The rationality should be the deciding factor . . . .Our neighbors in the Gold coast did same, and they are not better off. . . . . . . It has even gotten so worse for them.

mickey45:


Much as I dont really feel our incumbent president,he's got some good (albeit intentionally selfish,myopic & conceited) heads about & around him.
How can someone (a presidential aspirant far!) spew such Bull?
Reasons like this're why I imagine d drama we'll witness when this people enter.
Jona may seem dull n frail now but I jst hope that he can really right many wrongs if voted in.
This one when he enters may only b gallivanting about as figurehead (like in the Buhari-Idiagbon Era).
Those troublesome cattle herdsmen may also become more brazen while these brothers of ours become bolder.
Jona hasn't helpt our plight either,not with the way he keeps handling our destinies 2 greedy biznesmen.
e.g;
I knew trouble was brewing d day our SWF/ECA was handed 2 Goldman Sachs.Dat Was NOI

blazes4:


you just agreed that a weakened naira is the last thing we need... yet you go all the way around to insult someone who agrees with you and says he will strengthen the naira I dont get you man... why do you contradict yourself?

Omooba77:

God bless you sir,but please let him or his campaign organisation refute this. Check the source sir

mickey45:

No developing country ever tries such! With My Minuscule Macroeconomics exposure, ( I'm an Engineer) such country will end up in flames.Has China n India dare not think ofit? Rather,the U.S keeps accusing the Maoists of intentionally keeping their exchange rate below what free market dictates (given China's export volume). But China knows a high Dollar-Yen rate is imperative 2 keep attracting investors while it keeps working to ensure that virtually all that their citizens needs are produced inhouse which is why their seemingly low pay still sustains them well since the purchasing power is high.
Ghana was only naive and much as I respect Soludo and agree with his positions,our manufacturing sector's not yet at d level where a strong currency will benefit the citizens employment wise

blazes4:


you just agreed that a weakened naira is the last thing we need... yet you go all the way around to insult someone who agrees with you and says he will strengthen the naira I dont get you man... why do you contradict yourself?

Princecalm:
you are the one that don't, Ged measures of tackling inflation was poor.

Omooba77:


Even Japan,China can not achieve this

TheGoodJoe:


What about Prof. Soludo, are you saying he does not know what GDP is?

The Central Bank Governor, Charles Chukwuma Soludo, recently unveiled a plan to revert the naira to its pre-1986 value. Prof. Soludo said among other thing that #20 will become the country's highest denomination against #1000 which is currently the highest. Doing this will put the naira at about #1.25 to American (U.S) dollar and invariably transform the naira into a world class currency, and become West African's common currency by 2009.
http://www.nigeriavillagesquare.com/articles/hakeem-babalola
/redenomination-or-redomination-give-soludo-a-chance.html

blazes4:


If we all remember the days before Soludo went out of office he was talking about revaluation of the naira... it means kicking off some zeros as he called it then... This guy is not talking bullshit.. read about devaluation and revaluation before you react to this post else you'll actually be displaying your ignorance.

Binb:
What is the fuss about? Was the naira not stronger than the dollar before?

wakacome:
[b]In the land of "Jon" located at the city of "athan"so much people suffered from a disease called "corr"which broke out from the river called river "uption"this disease killed so many people living in that city but their king called king "stea"L of the "ing"kingdom do not even know what to do but he had to consult a friend of his who is also a king of another city called "clue"from the tribes of "less",he told his friend the problem he is facing in his own city and his friend told him that they should consult the gods of "bu"in the "hari"shrine ,"bu"revealed to them that they can stop the disease of"corr"which was caused by river"uption" he said they need to perform a sacrifice of "dis"to the tribes of "ci" in lake "pline","bu"also revealed to them that they should consult a spiritual priest named "inte"who hails from the city of "grity"he said the priest is the one to do the rituals, the king obeyed the instructions and there after all the people of the land of "jon"in the city of "athan finally"got saved after "Bu"of the greatest "hari"answered their prayers,...everyone in that city was happy that they were saved from the disease of "corr"caused by the river "uption"...so that was how the people of the city of "athan"choosed the gods of "Bu"and decided to worship at the "hari"shrine so that they can continue to have a better life,even the king worshipped "bu"of the "hari"kingdom and begged him to take control of the city so that they can continue to live a very better life.....





Wakacome[/b]

mickey45:

A Weak Naira Shd Force Local sourcing of materials,discourageimportation,attract foreign investors as they can achieve more with less dollars.

rad1cal2:

blazes4:


you're getting it wrong sir... since we dont manufacture that is why we need a strong naira.... owk lets go basic.... now that the naira is around 200 to a dolls it means to buy a 1 dolls stuff u need to av 200naira but if the naira were revalued to say 100naira to a dollar then all u need to buy the same product is 100naira and you keep the remaining 100naira in your pocket. Most of what we consume in Nigeria are imported so they have dollar price tags.... this thing is not rocket science na

fallout87:
That is one of the stupidest utterances in this election if it is true.

Does this Buhari not understand inflation? He obviously doesn't understand a thing about GDP or the economy...

Omooba77:
Owerri – The All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, on Monday said he would ensure that the Naira was equal to the dollar in value, if voted into office.
Buhari stated this during the South-East presidential rally of the party at Dan Anyima Stadium, Owerri.

“It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’ he said.
He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected.

Earlier, Gov Rochas Okorocha had urged APC supporters to vote for the party’s candidates at all levels, noting that a vote for Buhari without support to others at the state would amount to nothing.
Okorocha said Buhari would address the problem of electricity, bring back the kidnapped Chibok girls and promote industrial growth.

He said that Buhari was loved by the people in the region and urged them to elect him and other APC candidates during the March 28 and April 11 general elections.

Former governor of Anambra, Mr Chinwoke Mbadinuju and former Minister of Education, Chinwe Obaji, were formally welcomed to the APC at the rally.

The rally was attended by APC supporters from Abia, Ebonyi, Anambra, Enugu and Imo. (NAN)


http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/#sthash.eALwzZ4V.dpuf

mickey45:

You Could Easily Have Pointed My Attention To What I Never Considered Without Attacking My Person. Moreover I did say that I'm no Economist! So I'llgladlylearn4rm Uifuare. Thatasidethough, Idoknowhowdevaluationdiffersfromrevaltation. The Revaluation Soludo wanted to do then would only have helped us achieve what Awolowo Achieved when he did same Biafra back then,i.e.beat money hoarders and launderers at their own game. This is because they'll all need to explain the source when they bring it to the bank to change. At the end,the exact amount of money in circulation will be known and that will aid further planning.

toshmann:


Hahahahahahahahahahahahahahshshahajahajshs

Illiteracy na bad thing o

agabaI23:
The same grade as "I stabilize global oil price"

He allowed the naira to depreciate by 20% from 76k to 89k to $1 and it is now that he will make naira equal to a $1. Someone tells me he is sincere?
Jmain, Jmaine, Firefire, anonimi, sweet ellechrystal, Whynotthetruth, Kenai dein77, barcanista eeee make una come ooooo Buhai is at it again

mickey45:

You Could Easily Have Pointed My Attention To What I Never Considered Without Attacking My Person. Moreover I did say that I'm no Economist! So I'llgladlylearn4rm Uifuare. Thatasidethough, Idoknowhowdevaluationdiffersfromrevaltation. The Revaluation Soludo wanted to do then would only have helped us achieve what Awolowo Achieved when he did same Biafra back then,i.e.beat money hoarders and launderers at their own game. This is because they'll all need to explain the source when they bring it to the bank to change. At the end,the exact amount of money in circulation will be known and that will aid further planning.

demandtruth:


Jesus!

I'm really disappointed on this your line of economics postulation
is this what politics has turned you to

How does export work in favour of Nigeria
just because naira is disvalue.

My, were you ever taught about production/competitive market/market penetration
costs value

Anyways,
Gmb
till you separate your emotion from facts

TheGoodJoe:


The Central Bank Governor, Charles Chukwuma Soludo, recently unveiled a plan to revert the naira to its pre-1986 value. Prof. Soludo said among other thing that #20 will become the country's highest denomination against #1000 which is currently the highest. Doing this will put the naira at about #1.25 to American (U.S) dollar and invariably transform the naira into a world class currency, and become West African's common currency by 2009.
http://www.nigeriavillagesquare.com/articles/hakeem-babalola/redenomination-or-redomination-give-soludo-a-chance.html

PapaBrowne:


Are you serious Your speech just gave you off as someone who lacks complete understanding of Economics>



Illiteracy no be moi moi oh!! Ha! So if someone tells you he will equate the value to the dollar you would just swallow it hook line and sinker??
What were you doing when others were attending Economics class??

For the Naira to be equal to the dollar, you would need to see our dollar reserve rate go to something like a trillion dollars!! Even with 20 years of 20% economic growth rate, we would probably not be there!!


Now the bigger lesson for you is that a very strong Naira is not good for our country especially if you want to produce goods and export competitively..
Now let me explain that to you:
A bag of Dangote cement sells for 1500 Naira.
When the dollar was 160 Naira, that bag of cement was equal to $9.
At the new rate of 215 Naira, that same bag of cement is now equal to $7.
That means if Dangote wants to sell his cement in Albania, he has a better price point than he would have had 5 months ago.

Now imagine the Naira is exchanging at 5 Naira to a dollar.
That same bag of cement would now be equal to $300. Where on planet earth would he be able to sell his bag of cement at that price??

Any country that desires to produce and export to the rest of the globe, prays for a weaker currency to allow its goods better pricing amongst competitors. If Buhari understands economics, he will never pray for a very strong Naira except of course he wants us to keep importing everything!!

fallout87:
That is one of the stupidest utterances in this election if it is true.

Does this Buhari not understand inflation? He obviously doesn't understand a thing about GDP or the economy...

Omooba77:


Even Japan,China can not achieve this