I feel this is awesome news, if this happens there will be money to buy what I'm selling, check my signature if you're curious to know what I'm talking about.

Lanre01:



1. The dollar is weakening:

The US dollar has been weakening against major currencies recently. This is reflective in the price of a barrel of crude oil- which has hit its highest point in 2016. This factor may cause the naira to appreciate against the dollar next week.

The Naira is pegged to the dollar. Our foriegn reserves are in Naira you nitwit. If the dollar falls so does the naira

2. 2016 Budget:

With the controversies surrounding the 2016 budget almost over, the document might be signed next week. There are reports the senate committee and the presidential committee have concluded work on the document. It's also expected that President Buhari will assent the document next week. This is expected cause an inflow of dollars into the country via investments. In addition, investors' faith in the government will increase, making them to bring their investments into the country.

The budget is a deficit budget coming in a year of dwindling govt earnings that means the budget is based on loans and the effect of 6 trillion naira on a double digit inflation economy is set to see inflation soar and thus the naira weaken further

3. Less demand for dollars:

The demand for dollar has been abating as it's clear that FG won't devalue the naira. This has caused several industries to seek their raw materials locally.

The demand for dollar is low because the economy is stagnated and manufacturers are scaling down on production in the light of low purchasing power by consumers. This also applies to retailers which depend on imports.

If anything this may lead to a more serious case of deflation which will put the nail to the coffin of the naira

#Sai_Baba

Typical zombie signing out his pseudo intellect post

hemartins:


Importation from where and whose currency is been used.
In a few weeks from today, the naira would appreciate. The op couldn't have said it any better.

Importation from China and any part of the world we source our items from.

People will travel more, buy more and import more. The more money in circulation the more demand for forex.

If I want to import $1000 worth of goods and the demand is only $200 I will import 200. But if the demand increases I will import more.

amaechi1:


People that will never see anything good in themselves is very unfortunate.

stop being a sycophant for once!

It is obvious you are all jobless touts who never ever worked a day in your lives or understand how the economy works

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Dollar will be 310..

Charly68:
God bless u tthey are too pesimistic and I wonder their problem : Even when it is apparent things are going to be better they will still have one reason or the other not to believe .

please don't blame them. Nigerians have gone through a lot. Seeing is believing for us now.

so, stop, hold it. Our hearts have long been broken.

AntiMahdi:


The Naira is pegged to the dollar. Our foriegn reserves are in Naira you nitwit. If the dollar falls so does the naira





The budget is a deficit budget coming in a year of dwindling govt earnings that means the budget is based on loans and the effect of 6 trillion naira on a double digit inflation economy is set to see inflation soar and thus the naira weaken further


The demand for dollar is low because the economy is stagnated and manufacturers are scaling down on production in the light of low purchasing power by consumers. This also applies to retailers which depend on imports.

If anything this may lead to a more serious case of deflation which will put the nail to the coffin of the naira



Typical zombie signing out his pseudo intellect post

If U dnt knw Me and U talkin' dung of Me, think deep it means U're fond of Me- Sai Baba... Lolz!!!

laprince:


please don't blame them. Nigerians have gone through a lot. Seeing is believing for us now.

so, stop hold it. Our hearts have long been broken.

the fact that this your useless thread made fp shows the level of illiteracy among NL mods.

You only succeeded in telling us you know not a damn thing on how the economy works

go back to school or at least learn a trade.

Lanre01:
If U dnt knw Me and U talkin' dung of Me, think deep it means U're fond of Me- Sai Baba... Lolz!!!

olodo refute my counter argument on your hair brain logic

AntiMahdi:


the fact that this your useless thread made fp shows the level of illiteracy among NL mods.

You only succeeded in telling us you know not a damn thing on how the economy works

go back to school or at least learn a trade.

do U knw ur dumb stuff can make FP 2??

This week? False

Check out http://judefejokwu..com

The topic is Naira Devaluation. Africans continue believing that continuous devaluation of their currency benefits them. It does not.

Lanre01:
do U knw ur dumb stuff can make FP 2??

only low lifers like you look foward to making fp with your nonsense threads

tiar:
Check out http://judefejokwu..com

The topic is Naira Devaluation. Africans continue believing that continuous devaluation of their currency benefits them. It does not.

Help Me tell them oo... thats wat the intelligent buhari is tryin' 2 tell 'em buh wnt understand

AntiMahdi:


the fact that this your useless thread made fp shows the level of illiteracy among NL mods.

You only succeeded in telling us you know not a damn thing on how the economy works

go back to school or at least learn a trade.

I don't know why you are coming at me like this. This is not my thread. Besides, this is a sentiment many Nigerians share.

Charly68:
. Why are u so pessimistic ! Can't u be optimistic for once..it is like you people want things to go wrong so that u can cast blame on somebody .

I am realistic! With matters of governance and economy, it is not like spiritual or religious stuff that one just believe. It must be clear actionable plans. I haven't seen that with this govt!

amaechi1:


People that will never see anything good in themselves is very unfortunate.

It is people who are "delusioned" in turning fact on it head because of rice are the most unfortunate

laprince:


[size=28pt]this is a sentiment many Nigerians share.[/size]

[size=22pt]a sentiment many Nigerians share.[/size]

[size=18pt]many Nigerians share.[/size]

You are basing your claims on sentiments held by Nigerians?

I lol!

Economics is not dependent on the wishes and views of illiterates

If that was the case there would be a limousine packed in front of every hut in Zungeru

tuniski:


Stories!
The budget is just a paper without spine it won't change anything.

The demand for dollars is increasing not reducing.

Finally, the naira has been devalued given the sustained depreciation. The true value of the naira is what is obtained in the parallel market!

If the naira has been devalued, then why has even the IMF been clamoring for devaluation of an already devalued currency. Is it that you are wiser than the IMF or what. Those who trade fx on platforms online trade at $1=N199. That's the real exchange rate. Anything else is a lie and a fallacy..

Charly68:
. Why are u so pessimistic ! Can't u be optimistic for once..it is like you people want things to go wrong so that u can cast blame on somebody .

So in short you want him to be lying to you. This is the problem with Nigerians ,instead of you to analyze issues and take up the challenge ,you will rather prefer to be lied to. As long as industries continues packing up in Nigeria,importation will increase,the demand for dollars will increase

AntiMahdi:


You are basing your claims on sentiments held by Nigerians?

I lol!

Economics is not dependent on the wishes and views of illiterates

If that was the case there would be a limousine packed in front of every hut in Zungeru

You don't have a point.
Go back and check, firstly, why you quoted me.

Stop deceiving yourself
Will never happen!

Lancasterman:


If the naira has been devalued, then why has even the IMF been clamoring for devaluation of an already devalued currency. Is it that you are wiser than the IMF or what. Those who trade fx on platforms online trade at $1=N199. That's the real exchange rate. Anything else is a lie and a fallacy..

That is the whole hypocrisy of Buhari's voodoo economics

The CBN rates are not in any way dependent on market forces but by Buhari himself which thus makes the naira partially devalued.

The IMF is calling for full deregulation in currency trade which (depending on who is in charge) will see the naira further devalue.

The real value of the naira is not what the CBN posts every week but what the parallel markets have set.

This is why Buhari's voodoo economics has created a some what subsidy for the naira which has led to its scarcity.

laprince:


You don't have a point.
Go back and check, firstly, why you quoted me.

coming from some one who uses sentiments and popular opinion among the zombie populace as an argument in economics

abeg shift from my side

I pray so oo

AntiMahdi:


That is the whole hypocrisy of Buhari's voodoo economics

The CBN rates are not in any way dependent on market forces but by Buhari himself which thus makes the naira partially devalued.

The IMF is calling for full deregulation in currency trade which (depending on who is in charge) will see the naira further devalue.

The real value of the naira is not what the CBN posts every week but what the parallel markets have set.

This is why Buhari's voodoo economics has created a some what subsidy for the naira which has led to its scarcity.

Thanks for educating them . Ppl still believe buhari has a magic wand in his wardrobe that he will use to sort things out. I have been saying that by the time the full impact of buhari actions takes full effects ,it will take Nigeria another 8 years to get out of the mess created

.

AntiMahdi:


coming from some one who uses sentiments and popular opinion among the zombie populace as an argument in economics

abeg shift from my side

You're plain boring. Can't even make a clear and sane point.

onatisi:

Thanks for educating them . Ppl still believe buhari has a magic wand in his wardrobe that he will use to sort things out. I have been saying that by the time the full impact of buhari actions takes full effects ,it will take Nigeria another 8 years to get out of the mess created

The last time he came and mess things up, it took nearly 32yrs to sort things out.

I am afraid the business world will not have the patience to tolerate the possibility of another dunce like buhari ruling Nigeria and we all know come 2019 Buhari will never vacate Aso Rock when and not if he loses out.

laprince:


You're plain boring.

Education always sounds boring to the ignorant pleb.

If you are in desperate need for entertainment then go and watch one of those your yoruba nollywood videos.

Nobody is here to entertain or educate you.

zombie

Charly68:
. Why are u so pessimistic ! Can't u be optimistic for once..it is like you people want things to go wrong so that u can cast blame on somebody .

why r 180million nigerians so full n expectant of the federal govt budget?


at the last count more than 30states in nigeria have passed n signed their budget to law, so why are they not monitoring events in their states?

dont expect buhari's budget to carter for 180million nigerians cause its not possible.

the states act as buffer zones n closest to the people now since local govt hv been pocketed by states.

the only people who should be really expectant of this budget shud be party stalwarts, nigerians who get longlegs n people who r friends to those in government. aside that I dont see how the budget will make nigerians abi ameliorate the hardship we r facing presently when at the end they will still need to borrow to fund the deficit.