Bizibi:
Nigeria is lucky with the oil price situation,last night it was confirmed that Venezuela that is among the top OPEC cartel exporters is 68% on the inflation rate....

Raiders:
yes technically we buy our bread in dollars because some of the ingredients and most of the equipment used in production are imported. The government need to encourage the local market by improving electricity production and training our graduates.

patmaine:


the reason the common Tecno phone dat was selling at 12k increased to 15k is because the Chinese 're on break...nobody is importing for now so u jerk up price on the goods available to make up for it . it's a trend. February every year in computer village..

ucheheart:
Are Italians white? Forget those ppl jor. We are talking abt white men who became world power through technology break through not through war. When i say whites i meant brits and north americans.

989900:


You'r right, but that does not negate his 'take'. If it cost you $1000=N151,000 to order 10 mobile phones same time last year, it'll cost you $1,000=N205,000-N216,000 [/b]to order same number of phones as at today Feb.25.2015 (bank rate N204-N205/$1, 'black market: N214-N217/$1).


[b]Now, would you still sell each phone at the same price you used to?

P.S. Oil is trading at $61.60/barrel as we speak, hopefully it trades even higher when the Chinese new year festival is over+if the US moves in on ISIS in Iraq/Syria . . . should bode well for the Naira.

queensmith:
People are excited about this?

What the hell is happening here?

I can't actually believe this, looool the Nigerians understanding of Economics actually begins to explain alot.

CBN pegging the naira at a lower rate of exchange only benefits those coming to rape you of your resources then sell them back to you at the value you now have to pay more for because you've made your currency cost less.
YOu are Sooooooooooo wrong, Assignment for you check how many CNY $100 will buy and check how many =N= $100 will buy,Im sure you will change your argument oya I dey wait
PS CNY= china Money.

queensmith:
People are excited about this?

What the hell is happening here?

I can't actually believe this, looool the Nigerians understanding of Economics actually begins to explain alot.

CBN pegging the naira at a lower rate of exchange only benefits those coming to rape you of your resources then sell them back to you at the value you now have to pay more for because you've made your currency cost less.

erico2k2:

ahah guy U funny so Italians no Be white? lol no B dem build FERRARI Sport Car? oh some of the street sweepers in my street and Bin Men are british as well, so what does that has to do with anything.At work my Boss is black(Nigerian) Im boss to whites at my work place guy up to 20 of them.

ucheheart:
show Pictures of white men working for you or i don't believe it.

tete7000:


It will automatically lead to inflation because that implies the smallest money you can spend without needing change will be N100/N50. Small things like chewing gum and sweet will then be available at those prices.

queensmith:
People are excited about this?

What the hell is happening here?

I can't actually believe this, looool the Nigerians understanding of Economics actually begins to explain alot.

CBN pegging the naira at a lower rate of exchange only benefits those coming to rape you of your resources then sell them back to you at the value you now have to pay more for because you've made your currency cost less.

989900:



And at times I wonder which half-sane investor would want to come and invest now in the present epileptic mare's nest.

Some not so buoyant ones are already pulling the plug even.


Bring in money you'r not sure how much it'd be worth in 12 months time?

erico2k2:

I live and work in England as a professional my friend 15 years counting,U think say I be small pikin?

Forwetinnah:


Some of which ingredients please and which equipments?? So we import wheat and granulated sugar??The one Dangote etc produce and already have in their ware houses and factories how many years ago?? Have you visited a local bakery? Most of their equipments are made in Nigeria oga. Some of us argue for the sake of argument

Boland:
Relax people, Match 28 won't be too late... I'm sure all will fall in place as soon as our New President swears in....
Relax....



Change will definitely change things..

ucheheart:
I am not doubting you but show some pix or i don believe it.

erico2k2:

let me say something to be used as food for thought,if I have an LPO to supply wood to a local factory in say New castle(England) and I have the option of say Brazil and Nigeria, since my pounds/Dollar now has great Value in Nigeria, where do you think I will go? just food for thought.

Raiders:
you are the one ignorant. If you read my post then you with know I said "SOME". we still import flour into Nigeria. Even the so called local Oven and furnaces uses parts that are imported into the country.

989900:


I get your point, but it will depend on some other factors than just the exchange rate.

OTOH, what the country needs more are investors thinking long term. Not just traders.

989900:


I get your point, but it will depend on some other factors than just the exchange rate.

OTOH, what the country needs more are investors thinking long term. Not just traders.

fairheven:


Agroup of young stars from were kwa?from which planet?u didn't enquire from market women,na young stars or stout u Dey ask?u for ask Babalawo

aguiyi:


anuofia, simple economics you don't know yet you will be typing trash every now and then on topics that are way beyond your mental capacity.

demand and supply is what determines price in a free market.

have you asked yourself what Nigerians are doing with the US dollar that has made it so scarce that the price is heading north.

has it become our legal tender or we are experiencing an artificial scarcity created by those who have an agenda.

suddenly in this period of election the dollar is no more available. the naira started losing its value when the abokis gave their brother licence to buy and sell other currencies on the streets.now they are hording it creating panic in the process.

we no longer import much of rice
we no longer import cement
we no longer import much of cars

what then is the new line of business that is drying up the available foreign currencies. those who stashed the green back in their house with the hope of releasing them when their candidate wins election are only fooling themselves because they will regret it with the new policy that is coming.

that is how they intend to stabilize the naira

Mrbigman1:



That's the point.

CBN have been wedging the Naira since and pumping the scares dollars uncontrollable into circulation to strengthen the Naira.

Now the Nigerian market is getting stable and they decided to let it survive it's self instead of wasting our reserve.

Now if output increases after election base on GDP, Naira can pick up without no support.
Imagine Nigeria not exporting oil to USA yet the economy seems stable, imagine wen everything gets normal and export resumes, hope we'd hit the sky

erico2k2:

I know but we both agree, I will come to Nigeria instead cos i can get what I want cheaper right?now that's Demand and Supply playing right there.This is how china got to where they are today.Lowering its CNY to reflect things on ground.China has one thing that is very cheap back then

tete7000:


What a lie! Obasanjo eased Okonjo Eweala to Ministry of Foreign Affairs as to enable them have access to cash for third term agenda. The woman never supported the third term. I asked you: if Okonjo Eweala who was instrumental to Nigeria getting debt relief was considered a failure by Obasanjo, is it Nnenadi Usman, a mere geography teacher from Kaduna State who succeeded her that would succeed where Eweala failed? Don't forget that Usman was Minister of state for Finance under Eweala and I remember the reason for Usman later having the ministry was because Obasanjo claimed she has understudied Eweala enough for her to be a full minister as if you can learn financial matters by being an apprentice. Secondly, I asked if Eweala actually failed as a minister of finance under Obasanjo, why then was she given another portfolio? - A foreign Affair ministry for that matter. Thirdly, if that woman did not worth her onion, would she have resigned herself? Mind you, she is the first Nigerian I know ever voluntarily resigned her appointment as a minister. Does her voluntary resignation tells you something of her pedigree and belief in herself? Abeg make una leave this woman alone and stop peddling lies and fabrications about her. Obasanjo himself will never come out and make senseless incompetence claim about Eweala.

kaboninc:


Old NEWS!

So far, what hav u said. U re forming intelligent here. Is it a lie that naira was devalued?

This is how you create FALSE news and spread it with so much ZEAL and PASSION. Common sense which is common, you don't have. And people like berem will come here to rant her support for block heads like you.

There is no current 'official' rate by either the CBN or YOU. The market has been liberalized, thus allowing demand and supply to determine the exchange rate. There's a window called the [size=15pt]Interbank Window[/size]. CBN has pegged the exchange rate of the dollar from that window.

There are so many dynamics going on here but because you appear to be DULL, I should save you the PAIN of understanding!

See the peeps above me most of them typing away their intelligence and broadcasting their IGNORANCE of the SUBJECT MATTER.

Like that diluminati and Adminisher!

agabusta:



Negotiating debt relief and managing the economy are two different things. I'm sure it was the good way she negotiated the debt relief that made Obasanjo conclude that she will perform better in Foreign affairs ministry.

Go and read Soludo’s letter. He categorically stated there that she spent the major part of her career in Admin and operations at the world bank. She is yet to disprove that till today.

You guys should stop overhyping this woman, her economics has been making life harder for the needy. The growth she is always claiming is not reflective in everyday life for years now.

CFCfan:

Hmm. I thought lower denominations would lead to a slight reduction in prices

EUROBOMBER:


Go get a life fvcking plunker.

Bloodydemon:


Buhari is a terrorist
Apc Is bokoharam
Gej till 2019
Buhari oooooooooooooo