CityNG:


General, this is hogwash and pre election BS but I'll still vote for you.

No way in hell the Naira will ever ever be equal to the Dollar in 100 years.

We can start by ensuring 100% availability of electricity and water, education, security and then foreign companies will come and set up industries.

But carry go Sir, adults knows that politicians over promise and under deliver

Hahahah! Na sentimental or sympathy vote u wan give am?

bdidi:


Hahahah! Na sentimental or sympathy vote u wan give am?

He's the best of the worst.

Really wish for a young military person to do a coup.

Like Gaddafi and Rawlings.

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!!

I have an idea . . . what if we all want to keep importing?

TheGoodJoe:


Prof. Soludo, an economics Professor thinks it is possible. So, why abuse the poster?

Show me where Prof said it, not a blog where the writer assumed the Prof said it. Prof usually hints his ideas, facts, figures and what not in his writing, articles, or even, in his book. Please bring forward a press release pre and post CBN where he said such. Till then, STOP regurgitating that link.

Laid2001:
I am amazed at the ignorance of majority of people on this nairaland
What an illiterate breed this country is turning into.

Soludo, have proposed this same thing during the time of Yaradua and it is called Naira denomination.
Government will simply change the naira notes and make 200 of the old naira notes to change for 1 new Naira note to be introduced, pronto 1$ will then be equals to 1Naira.

Also, Sanusi proposed the same thing but each time the economists proposed this solution which has been used by many countries including Turkey, the politicians always kick against it for the simple purpose of their alter ego. Since majority of them calls themselves millionaire, they dont want to turn thuosandnaire overnight!

Ghana did this....are they better now?

Eluwilussit:


I am not contradicting myself. I just tried to analyze both sides. On the long run, we need a strong economy and strong economies are not necessarily synonymous with strong currency. I cited China to support this line of thought.

At the same time, I acknowledged that we don't need a weak naira at the moment. The reason is because we are not an export based economy but import based.

In summary, I mentioned somewhere that a weak naira could be turned into an economic advantage by looking inward and going into full scale production. Just like China, Malaysia, India etc.

What's so contracting in my summation? I simply stated my opinion on the pros and cons of a weak naira.

I blasted Buhari because he was talking without thinking. If he understood economics, he would have presented his argument in a logical way and not political. Then again, it is all about the elections and the electorate. The masses go where the vibe is. Substance or not, they don't know any better. Those who know, like you and I, should be able to see through an empty and foolish talk.

This is one.

Well as soludo put it then he said they are all making a wish list... In a Nigerian campaign you dont give full details and actually the statement he made is consistent with the ideals of the party... I see APC as a progressive socialist party. a lot of welfarism is in their manifesto... stipend here and there... revalueing the naira is in line with these policies as we wont have to save up much to buy the gadgets we love and need... They just want to ease our lives while they clinically grow our economy and export abilities... as opposed to slamming a 70% duty on tokunbo cars because you want to encourage local production when those who would produce are still complaining that they cant produce cos no stable electricity... PDP dont just care if the masses blead to death before their transformation is complete...

https://www.youtube.com/watch?v=VBY1H6o5d1E

[size=20pt]Listen to the message by President Obama, Even Mr Obama recognises the progress that has been made under president jonathan in Economy, security, democracy etc and is urging Nigerians to vote for continuity to consolidate the gains that has been made so far.

GEJ carry go.[/size]

patmaine:


hello alhaji sani. na tinubu dey talk. I ve 20000trillion naira. I need to change it to dollar..

when do you need it?

u get d picture. it wouldn't 've stopped anything. they all hold d money in dollar anyway

I agree with u, but I want to believe not all of them would've escaped If Soludo himself oversaw the wholeshow given his position then. At least not those who were not cowtowing to Obasanjo's whims then. Obasanjo for one know's how to pick his fights just as it would've been fool hardy trying to shield patricia Etteh etc.Backthen.
A few ultraconnected Ones would still scale through but a great many would feel the brunt too.

bdidi:




Ghana did this....are they better now?

Why did it fail in Ghana When you analyze situations you dont jump into conclusions... Atleast Ghana celebrated 1 whole year of stable electricity. we have never done that...

Buhari. explain in details to Nigerians how you're going to do it, not just rhetoric!

Teempakguy:

I have an idea . . . what if we all want to keep importing?

Then Some People Might Spend More Years At Home Than They Did In School Before They Get Any Job. I Hope You Dont subscribe to that line of Thought?

Buhari is @ it again; this is what APC call change, god forbid.

blazes4:


Why did it fail in Ghana When you analyze situations you dont jump into conclusions... Atleast Ghana celebrated 1 whole year of stable electricity. we have never done that...

You're all over the place.

It failed in Ghana simply for several reasons... Same way it's likely to fail in Nigeria if implemented.

goddypawa:
I am not nigerian but to be sincere if Buhari held such statement then his certificate issue should be thoroughly searched

You are not a Nigerian and you are making unreasonable comment
about a Nigerian

You can't read to comprehend what is written?

There's a clear difference from what is suggested
from what Buhari is quoted to have said

Go back to read slowly and you'll
be able to understand what he said from the quoted words

Please, move your ignorance to your country
this is Nigeria politics and for Nigeria only

Anuoluwap:
Just tell grandpa to take it easy. He can only achieve this if only he's not a politician.

But he never said he was a politician......He said he was a civil servant.

That is what is in the INEC form he filled....That is why he feels he can achieve it.

Meanwhile his case is in the court

Teempakguy:

I have an idea . . . what if we all want to keep importing?

How many tonnes of Cement does Dangote currently export? so because of only Dangote the rest of us should continue to suffer And maybe where we all will start to understand this stuff is that... do you know that it wasnt the laws of demand and supply that forced naira to its current position? CBN just woke up and decided to make me suffer... if they can do that i'm sure they can just resleep rewake and make me smile by revalueing...

APPLLICTION OF JOB


1)MENAGER
2)SECTRY
3)D.O.S
4)P.R.O
5)DERATOR

bdidi:




Ghana did this....are they better now?

Only Countries With Small Populations And A Good Manufacturing Base Do It Without It Ruining Their Economy. China Has The 2nd/3rd Best economy in the world and dares not thread such path

agabaI23:
Toshnwanyi Toshman nwanne m, kai anya m ji hu gi akpokwala

Owu felimbombo ji gi leee?

Faaaaaaaaake nwanne m oo
Longest time

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...

That's the area where spirit of stupidity and ignorance has caused great damage to the reasoning faculties of people like you. It will take buhari to help normalise your brains and make you believe this is possible.

Check out Libya before world power incited the citizens against gadaffi.

manny4life:


You're all over the place.

It failed in Ghana simply for several reasons... Same way it's likely to fail in Nigeria if implemented.

so what if Nigeria does it homework well and is succesful... Consolidation of banks cost the least in Nigeria... because Soludo didnt just say this is how dey did it in so so and so place he actually improved on it... are you saying we cant improve on Ghana? Economic policies should be perculiar to your needs... USA is always shouting democracy... Democracy no dey saudi and saudi is working... when libya was under ghadafi libya was better off... in singapore lee kyun yeu of blessed memory was said to have maintained tyt grips on media and today singapore is better for it... and when he was asked about it He said he didnt follow any theory on democracy that he did what needed to be done

This is one of the reasons I call Buhari "voodoo economist"

dollarlander:


That's the area where spirit of stupidity and ignorance has caused great damage to the reasoning faculties of people like you. It will take buhari to help normalise your brains and make you believe this is possible.

Check out Libya before world power incited the citizens against gadaffi.

An uneducated clown with no substance like you had no right to quote me. You are so foolish you don't even know how a country goes about enhancing their currency or why they should or shouldn't.

If you don't have anything intelligent to add the conversation, then shut up small boy... adults are discussing

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...

a

Why do you think he has been adjudged to have dead brain cells? He choruses from Tinubu's script........

mickey45:


Only Countries With Small Populations And A Good Manufacturing Base Do It Without It Ruining Their Economy. China Has The 2nd/3rd Best economy in the world and dares not thread such path

CHINA EXPORTS OOOOOOOOOOOOOOOO....

Falling oil prices: Who are the winners and losers? ( Follow ling and see for yourself ) http://www.bbc.com/news/business-29643612

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

manny4life:


Haha.. Just this simple logic

At $110/barrel, Nigeria needs at least 13.7 billion barrels of untapped oil stock... Look at Nigeria's oil producing capacity of 2.5 million/day and do the math. Let alone now that oil has taken a dip... Hmm

I don't think we will be fine with $35/barrel because the dynamics of the 80's are the same now... We have several factors mitigating against us and our currency.

Continue to hide under arithmetic while GEJ and his gang loot you dry.

mickey45:


Then Some People Might Spend More Years At Home Than They Did In School Before They Get Any Job. I Hope You Dont subscribe to that line of Thought?

Saudi is an importing Nation sir... the only thing they export is petroleum... have you been to saudi?

mickey45:


Then Some People Might Spend More Years At Home Than They Did In School Before They Get Any Job. I Hope You Dont subscribe to that line of Thought?

Hmmn, true.

fallout87:


An uneducated clown with no substance like you had no right to quote me. You are so foolish you don't even know how a country goes about enhancing their currency or why they should or shouldn't.

If you don't have anything intelligent to add the conversation, then shut up small boy... adults are discussing

Because you are too theoretical in your approach to life can't make you see possibly in things people think impossible.

Your uncle is talking here. Don't allow the small money in your pocket puff you up, you may not have it tomorrow. Adult.

ribbit:
bullshit... If it has good as you painted it, why not devalue it to 1000 to 1dollar so dangote can get all the profits... Only a producing nation gains from currency devaluation not a country like Nigeria that we hardly produce anything.. Apart from crude oil, tell me what else we produce for export in large quantity in these country apart from crude oil?

China was able to gain from currency devaluation because it is an industrial nation... It practically produces almost everything we have in the world today, that's why it's citizens have been able to enjoy alot from the devaluation.

Now you want us to be happy because our currency is falling without anything to show for it.


Now I know many Nigerians need serious education.

Well this is the more reason GEJ must continue cos he has made the step to the right direction.

patmaine:


go and study Ghana economy since the revaluation...it's worse. didn't work for them..

the exchange rate is favorable to Nigerian produced item....with the recent emergence of Nigerian in d agriculture sector..it 'll be favorable to Nigerian exporters and subsequently Nigerian economy..because more people will be inspired to export..earning foreign exchange..

Ask companies like ibeto who export motor batteries to the USA. I am sure he 'll surely 've increased patronage because Nigerian products will be cheap in the international market...

Ask companies like innoson technical company. they 'll tell you thr plastic and vehicles now 've much international patronage...

u na a pc too dull joor

do I look like innoson or dangote or ibeto to you? or did anyone tell you I am their wards? if devaluation is so Good why is US, UK, and EU not rushing to devalue?