ruby360:
[size=28pt]Fake economic reports- Buhari is here!

Learn how to enlarge your diick without any side effects -www.naijapleasures.com[/size]

lonelydora:
PMB will see to it soonest. Let him just settle and start work. I BELIEVE IN A NEW NIGERIA.

Mogidi:
How can they devalue Naira when they promised parity with the dollar?

What happened to the #1 = $1 promise?

olumide4christ:


I have 2 questions for you:

1. Did you read the analysis of the write-up?
2. Do you understand a bit about economics or the financial sector?

=N=1 to $1 is possible, but you can't expect it to come so soon, after all your BIG BROS & company did before they left on May 29th. Our currency will stabilize in the long term, but not now when the country has been thrown into 60 billion dollar debt by the previous administration. Buhari and co will need to revive the economy first before our currency can appreciate.

You & all Nigerians should be thankful that PDP govt didnt continue for a 2nd term. If they had, they would have continued to borrow from IMF & World Bank without letting you know until one day, they will just announce that the country is in debt & has gone bankrupt and we need bailouts from the international world.

If you doubt, ask the people of GREECE what they are going through with the European Union!

Dollyak:

I wish lol

sexymoma:
Awon Ebi barcanista ma to wa ma gbo nibi nsin

Firefire:


Se Omo Orile'ede yi ko ni iwo ni ?


E mi ro wipe Irorun igi, ohun ni irorun eiye ni ?

Krucifax:


Actually it means you become more broke not richer. When the currency is deflated,inflation kicks in to compensate. This means prices of almost everything will go up. This also means that while your dollar fetches more Naira your buying power remains unchanged or even diminished. Hope you understand.

Krucifax:


I hope you statement was a joke. If you have even the slightest understanding of currency markets you would know that it is an impossibility to establish parity between the naira and the green back.

The main point of the article is that Oil revenues have reduced. Cash flow has reduced. The government has and will take on more international debt to fund running of the economy. All equals to further devaluation. Hope you understand.

barcanista:

Firefire:



I was asking the lady if she is not a Nigerian for attacking you with that word.

Jacide:

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

Ezenwammadu:
But buhari promised to make N1=$1 and somebody is talking about devalution.This govt has already broken another of their promises.

#BabaOneChance

Mogidi:
How can they devalue Naira when they promised parity with the dollar?

What happened to the #1 = $1 promise?

Dollyak:

It will be really devastating to our export trades to equal Naira to dollars. Don't know why peeps care too much about it, China has been using their weaker currency to their advantage for years. There is a reason they are still unwilling to increase their rates.

barcanista:
Don't mind Sexymoma... How body na?

barcanista:
Don't mind Sexymoma... How body na?

Firefire:



Thanks, trip was fine.

zonax:
Buhari u said 1dollar to 1naira

barcanista:
THRASH! The balance of trade between import and export for a country like China is on the favor of Export. In other words they export more than they import, hence, their currency is always put on check to ensure that it doesn't appreciate to a level where people will refuse to trade witthem due to the resultant effect. An importing country like Nigeria needs a strong currency. Because a weak currency will invaluable leed to inflation or even hyperinflation (just like what is happening in zumbabwe.

It is people like you that ruin a country's economy

40manlappy:
I hope not o

989900:
False alarm.

Devaluation will only make the people poorer, and government's external debts harder to pay. The government and Buhari especially, know it.

"However, going forward, the Central Bank of Nigeria (CBN) should be more responsible in the management of the monetary policy. For instance, the CBN’s harebrained policy of monetising the monthly, statutory foreign exchange allocations due to the various tiers of government, distorts our macroeconomy on so many levels.

It creates excess liquidity by flooding the money market in one fell swoop with a surfeit of Nigerian Naira that now turns around to shop, sometimes inordinately, for foreign exchange, goods and services, etc, thereby worsening the exchange rate and inflation rate at the same time.

It also creates the bizarre situation of so-called ballooning “foreign exchange reserves” of the Nigerian Federation whereas what we are actually referring to is the foreign exchange holdings of the Central Bank of Nigeria, i.e. the countervalue of the cumulative Naira transfers to the various federating units over time.

Hence the absurdity of Federal Government continuing to borrow, even in the face of so-called robust “foreign exhange reserves” in the sum of tens of billions of dollars.

A more realistic approach of monetising foreign exchange allocations to the federating entities would probably be to disburse foreign exchange vouchers to the respective beneficiaries which could be redeemed for Naira as and when needed.

Futhermore, the above referred modus would, over time, ensure that both the interest rate and inflation rate fall to the desired single digit. This singular reform would go a long way to revert the economy to equilibrium."

1. Do the above.
2. Get the refineries working so we stop importing refined products, rather, exporting refined products.
3. Review importation of food, and some other silly items.
4. Improve power supply.
5. Encourage exports (all).
6. Work on security.
7. Attack corruption and stealing of public funds.
8. Checkmate currency racketeering from the FG, CBN, banks, NNPC, BDCs, to independent racketeers.

Do 90% of those, and watch the Naira trade at N85-N125/$1 within 3-6 months.

olumide4christ:


I have 2 questions for you:

1. Did you read the analysis of the write-up?
2. Do you understand a bit about economics or the financial sector?

=N=1 to $1 is possible, but you can't expect it to come so soon, after all your BIG BROS & company did before they left on May 29th. Our currency will stabilize in the long term, but not now when the country has been thrown into 60 billion dollar debt by the previous administration. Buhari and co will need to revive the economy first before our currency can appreciate.

You & all Nigerians should be thankful that PDP govt didnt continue for a 2nd term. If they had, they would have continued to borrow from IMF & World Bank without letting you know until one day, they will just announce that the country is in debt & has gone bankrupt and we need bailouts from the international world.

If you doubt, ask the people of GREECE what they are going through with the European Union!

bushdoc9919:


Excellent, sensible and great analysis.

Eventually.....we will have to stop being a resource dependent economy. Simples

Jacide:

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

Ezenwammadu:
But buhari promised to make N1=$1 and somebody is talking about devalution.This govt has already broken another of their promises.

#BabaOneChance

Lucasbalo:
The funny thing is that the Nigerian situation is worse than Greece in the sense that the European Union and IMF are bailing Greece out of there bankruptcy. Nigeria is almost bankrupt due to many years of financial mismanagement and corruption. It will take prudent financial management to erase decades of financial mismanagement. God help Buhari and his team. The financial situation of Nigeria is worse than the power to be is letting out.