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Nairaland Forum / Nairaland / General / Business / Devaluation: IMF Versus Buhari - Henry Boyo (19627 Views)
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Re: Devaluation: IMF Versus Buhari - Henry Boyo by greenguy: 12:47pm On Feb 29, 2016 |
Obviously, the disciples of devaluation of Naira don't mean well for the country and would plunge Nigeria into it's ruin for their selfish interest. We must support the president even in the face of current economic downturn #prayforNigeria 1 Like |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by obailala(m): 12:47pm On Feb 29, 2016 |
greenguy:On the contrary, most (not all) of the vocal proponents of devaluation are just haters of the president who are hell bent on going the exact opposite way from whichever way PMB suggests. In my opinion, I think it would be quite difficult to predict between devaluation vs non-devaluation, which would be best for Nigeria's present circumstances. As has been suggested by some good brains, a proper economic summit should be organised to brainstorm and debate on which way forward. 2 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by AZeD1(m): 12:50pm On Feb 29, 2016 |
Firefire:One way is to stop the rent seeking economy we currently practice and find a way to force the banks to fund the real sector. How that will be done, i don't know. 6 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by Hakeem12(m): 12:56pm On Feb 29, 2016 |
IMF doesn't care bout Nigeria, and those pestering the president to devaluate naira are greedy and selfish importers who don't give a damn bout us 1 Like |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by blazetitov: 12:57pm On Feb 29, 2016 |
Say No to Devaluation!! 2 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by Nobody: 1:08pm On Feb 29, 2016 |
MOST OF ALL WE NEED GODS INTERVENTION IN NIGERIA...WE HAVE MORE PROBLEMS THAN THE EXCHANGE RATE. WE NEED TO DROP ALL OUR DIFFERENCES(TRIBE,RELIGION,STATUES),WITH ONE UNITED VOICE SEEK THE FACE OF OUR CREATOR. 4 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by 9jatatafo(m): 1:15pm On Feb 29, 2016 |
IMF and currency devaluation 2 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by chuose: 1:17pm On Feb 29, 2016 |
[size=14pt]Nigerians are in trouble[/size] |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by yaki84: 1:19pm On Feb 29, 2016 |
seunmsg: ao is nigeria not a foreign interest when u r in UK or France? |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by Dee60: 1:21pm On Feb 29, 2016 |
How exactly does he want to curb 'excess liquidity'? FG is the biggest spender in Nigeria and anytime it witholds funds the whole econmy bleeds! Where is the excess? Nigeria just simply needs to earn more by producing to scale, by taking risks to enhance its earnings within and without, through promotion of private enterprise. 2 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by olas24u(f): 1:25pm On Feb 29, 2016 |
Dee60: Dont you get it ?the money does not reach the real sector ,you can never produce and can never become an exporter of goods because you will not have money to do it .The money is not sinking down to the public that wants to borrow and build companies and produce . 2 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by slytubadth(m): 1:28pm On Feb 29, 2016 |
HAH: Jesus! 0.87 in the 80s 1 Like |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by greenguy: 1:32pm On Feb 29, 2016 |
obailala: I concur. |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by Nobody: 1:50pm On Feb 29, 2016 |
Why is IMF so interested in our economy? Whose interest are they serving? Lots of questions begging for answer. We stand with Buhari against devaluation. Importers should seek ways of producing locally or assisting local production. 1 Like |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by Nobody: 1:56pm On Feb 29, 2016 |
daniska3yaro: Theres a problem with this your request, where are the security agencies in bayelsa, what were they doing that someone can adopt a girl and take her some 900kms away to marry, why did the parents not raise alarm on time. I suspect complicity in this matter. |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by martineverest(m): 1:57pm On Feb 29, 2016 |
They send noi to destroy the economy; she succeeded a bit, but time was against her. They now want to kill it fully.bubu is smart enough not to give Dem a chance The westerners are having headache in preventing non-western nation from outgrowing them.iran,Brazil, china, Russia,egyt south Africa are posing serious threat. They can accommodate NIGERIA threat. That's y they want to kill the economy of our nation 2 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by bellyjean(m): 1:58pm On Feb 29, 2016 |
AZeD1: You just asked the most sensible question... honestly, this should be what our Govt/CBN in all capacity should do. These commercial banks are very lazy, since our mumu government (most especially previous ones from IBB to GEJ) gave them an easy way of making fat profits. Government sold bonds and T-bills to these lazy Commercial/financial/security/equity institutions. They would rather invest in Govt bonds than service the real economy by giving loans to local manufacturers/producers/Entrepreneur; because of the great interest rates and low risks associated with them. So invariably, our commercial banks are just banks for the government and the lazy rich who just want their monies to keep increasing with little or no efforts. If these Commercial banks are made to do the real work they are supposed to do, the real sector will get the boost it needs because apart from providing capitals (loans etc) they will also offer pro-bono services such as risk assessment and management etc. This would increase the chances of business survival. At the end, their loan is repaid, and the business is sustainable and waxes stronger. Now is the time for real work. God bless Nigeria. 5 Likes 3 Shares |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by akigbemaru: 1:58pm On Feb 29, 2016 |
Imf |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by MduZA: 2:01pm On Feb 29, 2016 |
martineverest: Lol...valid point |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by Nobody: 2:06pm On Feb 29, 2016 |
seunmsg: Boyo is wrong on excess liquidity. CBN does not print money to give to the states and FG for crude oil sales in usd. |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by princeatom: 2:07pm On Feb 29, 2016 |
This is about the best write up against naira devaluation. Good job sir. 3 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by anwe: 2:12pm On Feb 29, 2016 |
Good write up, good job ! 1 Like |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by mecks15(m): 2:19pm On Feb 29, 2016 |
@Henry boyo, thank you for the insight analysis of the inherent disadvantages of devaluing the Naira. Its only those who are not in tandem with the Nigerian economy and state of the naira that is calling for its devaluation. Someone should please tell the louded mouth governor fayose that the issues of the naira and our economy is not an issue that is handled at Garages where his colleagues are, but a national issue that require the input of reasonable people like boyo. Fayose can contribute any day he becomes refined. 1 Like |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by obailala(m): 2:20pm On Feb 29, 2016 |
seunmsg:Reading through the write-up is quite revealing. Devaluing may end up just sending us to the grave earlier than we should. A full blown economic debate should be organised to properly appraise the merits or demerits of any devaluation instead of just relying on textbook standard principles of devaluation whenever things go tough. After all, despite all the devaluations done by IBB which amounted to over 2000%, how did that really help the Nigerian economy till date with regards attracting foreign investors? 1 Like |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by olaitan9291(m): 2:24pm On Feb 29, 2016 |
daniska3yaro: If what you are saying is true, then charge/sue fellows to the Court of law and there you will find justice and not in the social media like this.. Please, stop painting Islam a bad name, please. |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by Bevista: 2:25pm On Feb 29, 2016 |
Activa:When the CBN receives dollars from crude oil sales, where do they get the Naira equivalent to fund the Federation Account? Just asking. 1 Like |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by olaitan9291(m): 2:25pm On Feb 29, 2016 |
daniska3yaro: If what you are saying is true, then charge/sue such fellows to the Court of law and there you will find justice and not in the social media like this.. Please, stop painting Islam a bad name, please. |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by Ahmed3rdjuly: 2:29pm On Feb 29, 2016 |
I have always known Henry Boyo to be a resound economist Good analysis 3 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by AZeD1(m): 2:39pm On Feb 29, 2016 |
seunmsg:I believe he once suggested that rather than give the states, Naira from federation sharing, the states should be given Dollar certificates. In that way, the CBN doesn't have to print more money,and then have to mop up excess liquidity. We should try that route and see where it takes us. I am with you on the appointment of bankers as CBN governors. 3 Likes 1 Share |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by grandstar(m): 2:40pm On Feb 29, 2016 |
Some of what Mr Boyo makes sense and some does not. Frankly speaking some is sky in the pie. How can he state that if foreign exchange restrictions are removed, the naira would drop to 1,000? Sounds preposterous! Also suggesting that the naira will drop to 300 is outright silly. In 2009, Soludo refused to devalue the naira after the oil price sank to $35 from $148, which led to a depreciation of the naira from around 120 at the parrallel market to 190. It stayed at 120 at the official rate. Sanusi replaced him that same year, devalued the naira to 150 and immediately, the black market rate rose to 150. If the naira is devalued at the official market to about 240-250 range, the black market rate will merge with it. However, I do strongly believe that ending the naira substitution policy will put an end to the high cost of funds and also strengthen the naira. 2 Likes |
Re: Devaluation: IMF Versus Buhari - Henry Boyo by PassingShot(m): 2:45pm On Feb 29, 2016 |
Firefire:So, you could support the president on something? May your liberation be permanent. Amen. 2 Likes |
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