No need to worry body odour will fix things soon

PassingShot:
Things will get worse before they get better.

Had the last govt succeeded in staying put, Nigeria would have become a failed state.


So, CBN is wrong to attept to stop dollarization of the economy by simply making it impossible to deposit dollars in local accounts?

In as much as I understand that some genuine businesses will be affected by the CBN policy in the short run, the long run picture which is the overall interest of Nigeria should be of higher concern/value. No sane country allows dollarization of her economy by a privileged few who are mostly thieving politicians.

Did you say short run? Like seriously, help me understand what time frame of short run is? Small businesses are the engine of any economy and they are actually suffering, these are the businesses that supposedly, to be protected and you feel comfortable with it because people are "dollarizing" the economy according to you... Okay

manny4life:


Did you say short run? Like seriously, help me understand what time frame of short run is? Small businesses are the engine of any economy and they are actually suffering, these are the businesses that supposedly, to be protected and you feel comfortable with it because people are "dollarizing" the economy according to you... Okay

Dollarizing the economy is not according to me. Open your eyes and read the OP properly.

I repeat, things could get worse before they get better. Nigeria is already a surgery patient and we know how such patients go through tears and sutures before they receive healing.

Can you just point me to something that Nigeria manufactures and we have confidence in the ''made in Nigerian'' product other than importing over 80% and account for less than 20% and even at that consumers still not complain of the inferior products. I will rather we put more efforts in doing what we can instead of looking for reasons why we should attempt to do nothing.
[b][/b]BLAMING EVERYTHING AND EVERYONE but not looking inwards.

PassingShot:

Dollarizing the economy is not according to me. Open your eyes and read the OP properly.

I repeat, things could get worse before they get better. Nigeria is already a surgery patient and we know how such patients go through tears and sutures before they receive healing.

Don't forget also that MANY patients have died during and post surgery which was a result of severe complications. Those that are truly alive are left with lifetime disability. The surgery is NOT the problem, the surgeon and the surgical procedure is what determines the outcome. I hope you get my drift. There are indicators telling us CBN's approach to dollarisation is hurting us really badly, and to the point we may NEVER recover, don't you think they need to review their policy? Imagine tens of thousands of SME's wiped away all because of CBN Policy. It's easier to destroy than to create, the U.S. is a model example.

I taught they wnted to faustrate igbi businesses.

PassingShot:
Things will get worse before they get better. Nigeria cannot afford to continue with business as usual. It is what brought us to where we are.

Had the last govt succeeded in staying put, Nigeria would have become a failed state as the FG was already borrowing to pay its employees.


So, CBN is wrong to attempt to stop dollarization of the economy by simply making it impossible to deposit dollars in local accounts? See reasoning!

In as much as I understand that some genuine businesses will be affected by the CBN policy in the short run, the long run picture which is the overall interest of Nigeria should be of higher concern/value. No sane country allows dollarization of her economy by a privileged few who are mostly thieving politicians.

Your lame attempts to cover for your paymasters is so disheartening. You sit on your laptop all day for a meager 5000 naira a month and try to deceive us that things are getting better everyday.

You always first start by blaming GEJ and it is becoming very stale. Tell your party members they are actually in power and to keep warming up, as they are doing, to resume opposition politics by 2019. We are losing trillions in investments, peoples jobs and lively hood are being compromised, our stocks and bonds are losing value in the international market, we are losing billions in our foreign reserves and you are saying we are getting better.

Rubbish zombie

ok.

OldJohn:




Your lame attempts to cover for your paymasters is so disheartening. You sit on your laptop all day for a meager 5000 naira a month and try to deceive us that things are getting better everyday.

You always first start by blaming GEJ and it is becoming very stale. Tell your party members they are actually in power and to keep warming up, as they are doing, to resume opposition politics by 2019. We are losing trillions in investments, peoples jobs and lively hood are being compromised, our stocks and bonds are losing value in the international market, we are losing billions in our foreign reserves and you are saying we are getting better.

Rubbish zombie

Mumu of the highest degree, if you knew a thing about economics you'd have known that all the problems we're facing were inherited from GEJ and are the reason he was sacked.

Dolt, even though I hate to say this, let it sink in your brain that I am blessed beyond someone that can be bought for posting online. I advise you pray to achieve half of what Passingshot has achieved in life. Eediotta!

CBN wants to up Naira to equal the Dollar. While govt is busy playing politics.

PassingShot:

Mumu of the highest degree, if you knew a thing about economics you'd have known that all the problems we're facing were inherited from GEJ and are the reason he was sacked.

Dolt, even though I hate to say this, let it sink in your brain that I am blessed beyond someone that can be bought for posting online. I advise you pray to achieve half of what Passingshot has achieved in life. Eediotta!

Pls problems such as these


http://www.aljazeera.com/news/africa/2014/04/nigeria-becomes-africa-largest-economy-20144618190520102.html

Which economic problems?? Is it GEJ'S fault that the price of oil fell? Didn't Russia have more problems than us? Russia's rubi fell by more than half, ours fell by 25%.

So which economic problems?? Were banking and construction companies sacking workers, were foreign investors withdrawing money from our bonds and stocks?? Were we losing trillions every 4 months??


Pls Mr man if u are not careful, you will start seeing GEJ in your dreams and either madness or hbp will meet you. And pls, if it is 5000 or maybe 7000 a month + lies and propaganda that's your blessing, pls let me be cursed instead. Jobless lifeless fellow. Yeye everywhere

It's quite painful. The fact still remains that the country is not earning enough foreign currency to meet demand. If CBN is not taking any action, we will be buying dollar for up to 300 naira.

PassingShot:

Mumu of the highest degree, if you knew a thing about economics you'd have known that all the problems we're facing were inherited from GEJ and are the reason he was sacked.

Dolt, even though I hate to say this, let it sink in your brain that I am blessed beyond someone that can be bought for posting online. I advise you pray to achieve half of what Passingshot has achieved in life. Eediotta!

Abeg save us from newspapers garbage in, garbage out, since the messiah is here. Pls do not blame any body for Nigeria problem. Make out time and trace back to Nigerian history neither is buhari coming to lead or fix them. He came to "Rule Nigeria". And there is limit to hopes and wishes.

It's silly to say 'things will get better', unless you can back that up with a government plan that you may be privy to.

(An aside- we no dey get light again o. Whagwan now?)

Who leaves a surgery patient on the table to go chase after people who stole fuel money for the ambulance?
The patient is ready but the surgeon only has an anaesthetist- who's put the patient to sleep already- without a nurse or any assisting surgeon. Isn't that insanity?
We all expected the economy to receive emergency treatment; imagine how bemused most Nigerians are now- gmb couldn't even submit a full ministerial list! After 4 months!!
In a state of emergency!!!
Shuu...
My surprization.
So even the CPC guys who've been with him for over a decade can't be trusted? Or are they only northerners? If so, where did he plan to get ministers from if he'd won in 2003?
What of the entire private sector- nobody?
Really?

Back to topic:
Buhari denied knowledge of subsidy, hence the crash in naira in early May, due to scarcity and rushed borrowing to pay off marketers. Remember?
He's told us all that he can't use the 2015 budget, hence no economic activity this year. So those who've been waiting for contracts- you're waiting in vain, as far as 2015 is conserned.

No govt projects= no spending -> increase in foreign reserve. But is it true that the reserves are now falling?
If so: Kasala...

Meanwhile, to those shouting about local production and importing '80% of everything':
What does Saudi Arabia produce- LOCALLY FOR EXPORT apart from crude oil? Where do they get food, drink, clothes, cars, phones, fridges, even PAPER?
Are they 'made in saudi'?
I go like hear answer.

MAN pls no matter how you look@ it this dollarisation madness will hv to be fought with all available weapon.

masseratti:
They should look for better ways for paying for goods and services, also companies should start doing R& in Nigeria to source fifth raw materials and let the most Ey stay I Nigeria pls.

garsul:
Anybody that complains of the CBN policy on forex is definitely not a local manufacturer, but rather an agent and distributor of foreign produced goods. The 41 items banned from accessing official FX are goods that Nigeria have comparative advantages in producing and require little or non imported raw material

BlackHuman:
I don't want to sound "wicked" here,but...."Local" manufactureres that source their raw materials abroad are not "Local" enough in my opinion....Maybe they should look inward for their raw materials and improve the contry's economy. It's hard Yes. But it has to be done....OR the CBN should exclude their raw materials from the list. But this law as far am concerned, is for the greater good of the Greater Majority for the Greater Long term of time...

garsul:
Anybody that complains of the CBN policy on forex is definitely not a local manufacturer, but rather an agent and distributor of foreign produced goods. The 41 items banned from accessing official FX are goods that Nigeria have comparative advantages in producing and require little or non imported raw material

These are the mature, sensible and precise reactions I have seen so far. Thanks to you all.
Nigeria is on its way to greatness, with the effect of changes happening.
We should know that we cant make omelette without breaking egg.

PassingShot:
Things will get worse before they get better. Nigeria cannot afford to continue with business as usual. It is what brought us to where we are.

Had the last govt succeeded in staying put, Nigeria would have become a failed state as the FG was already borrowing to pay its employees.


So, CBN is wrong to attempt to stop dollarization of the economy by simply making it impossible to deposit dollars in local accounts? See reasoning!

In as much as I understand that some genuine businesses will be affected by the CBN policy in the short run, the long run picture which is the overall interest of Nigeria should be of higher concern/value. No sane country allows dollarization of her economy by a privileged few who are mostly thieving politicians.

Pursuing thieving politicians at the expense of the economy abi. Continue to push him. 1984 reloading. Ask those old enough exactly what happened then. Facts not hearsay even if you will not say it out. We learn nothing in this country because we know very little about how things work or fail to work in Nigeria.

PassingShot:
Things will get worse before they get better. Nigeria cannot afford to continue with business as usual. It is what brought us to where we are.

Had the last govt succeeded in staying put, Nigeria would have become a failed state as the FG was already borrowing to pay its employees.


So, CBN is wrong to attempt to stop dollarization of the economy by simply making it impossible to deposit dollars in local accounts? See reasoning!

In as much as I understand that some genuine businesses will be affected by the CBN policy in the short run, the long run picture which is the overall interest of Nigeria should be of higher concern/value. No sane country allows dollarization of her economy by a privileged few who are mostly thieving politicians.

what do you mean dollarisation of the economy.Have you ever paid dollars for a good or service in Nigeria. This so called dollarisation is overblown.

Not more than 1% of local payment is in dollars. Making a mountain out of a molehill!

We need not only to go back to the former system but to liberalise further. You never see nothing yet!

Nigerian's and their impatience. Smh !!!

Whether we care to admit it or not, the 2015 General elections took a huge economic toll on the health of the economy coupled with the global fall in oil prices. As a result, the new incoming government cannot adopt a quick fix solution to revive the economy as some fifth columnists will want since they are hoping that this government will fall. We all know that after stealing billions of naira and converting them to dollars in anticipation of Buhari winning and them running away with their loot (Masu gudu su gudu), they now saw that things where not as bad as they imagined. But they now have plenty dollars and they cannot eat it so they are looking for ways to launder it in the economy.

As an insider I can tell you that most of these manufacturer's crying foul and hue are mainly briefcase opportunists who are eager to make quick profit without giving a damn.

As for the processing of Form A & Form M, the Trade & Exchange Department of the CBN are working day and night to process these applications for manufacturers with genuine needs. The LCCI and MAN members that are shouting like rabid dogs are those whose applications have been turned down for frivolous and outrageous demands for FOREX on items that with little effort can be procured here. They know themselves. How can you claim to be an indigenous producer and yet source 90% of your raw materials abroad e.g tomato paste. Don't we have tomatoes in Nigeria?! Why not invest in the value chain here and save us the little forex we have?! Instead you see in the newspapers shouting up and down that their business is dying. It's all propaganda.

The CBN as a defender of the economy will stand up against these vested interests and do the needful in protecting our economy and at the same time promoting our indigenous producers who genuinely wish to move the county forward.

PassingShot:
Things will get worse before they get better. Nigeria cannot afford to continue with business as usual. It is what brought us to where we are.

Had the last govt succeeded in staying put, Nigeria would have become a failed state as the FG was already borrowing to pay its employees.


So, CBN is wrong to attempt to stop dollarization of the economy by simply making it impossible to deposit dollars in local accounts? See reasoning!

In as much as I understand that some genuine businesses will be affected by the CBN policy in the short run, the long run picture which is the overall interest of Nigeria should be of higher concern/value. No sane country allows dollarization of her economy by a privileged few who are mostly thieving politicians.

what has been d result ever since? poor policy cannot achieve good result even if u gv it eternity