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How Can Nigeria Make 1 Naira =$1 - Politics - Nairaland

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How Can Nigeria Make 1 Naira =$1 by courage89(m): 8:10pm On Oct 13, 2015
It is shameful to watch our economy criss cross in and out of different crisis (local and international) every year, subjecting our currency to the whims of demand and supply, speculative attacks from foreign and local institutions, political, infrastructure, educational and security risks that continues to constraint Naira from appreciating.

A cursory look at the historical performance of Naira from 1983 till date (~0.7 naira / 1$ - 220 naira/ 1$), devaluation decisions couple with economic performance over the years concludes the rationale for our decreasing global competitive advantage, hence reason for our compounded poor economic performance over the years.

My question is simple, how can Nigeria strengthen its currency? What policies, structures, system and other enabling parameters do we put in place to reverse the problem/crisis emanating from devalued naira.
Re: How Can Nigeria Make 1 Naira =$1 by Kundagarten: 8:19pm On Oct 13, 2015
Buhari's body odour to the rescue, don't worry.

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Re: How Can Nigeria Make 1 Naira =$1 by mikolo80: 8:25pm On Oct 13, 2015
by re denomination make New naira change 200 Old naira for New 1 naira 5000 naira become 250 New naira

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Re: How Can Nigeria Make 1 Naira =$1 by nevi12(f): 8:40pm On Oct 13, 2015
In dere dreams
Re: How Can Nigeria Make 1 Naira =$1 by badnature: 9:35pm On Oct 13, 2015
by Nebuchadnezzar(buhari) decree
Re: How Can Nigeria Make 1 Naira =$1 by courage89(m): 6:38am On Oct 14, 2015
mikolo80:
by re denomination
make New naira
change 200 Old naira for New 1 naira
5000 naira become 250 New naira

I will not subscribe to the idea of redenomination of Naira, if not backed by necessary policy structure and system. It's a short term solution which will eventually compound our economic woes over time. Redenomination will lead to increasing inflation if not backed by proper structure, similar to what we are witnessing in Ghana currently.
Re: How Can Nigeria Make 1 Naira =$1 by mikolo80: 8:44am On Oct 14, 2015
courage89:


I will not subscribe to the idea of redenomination of Naira, if not backed by necessary policy structure and system. It's a short term solution which will eventually compound our economic woes over time. Redenomination will lead to increasing inflation if not backed by proper structure, similar to what we are witnessing in Ghana currently.

Hey he asked, I just answered his kvestion
but yeah 1 naira to $1 is not the solution.
tractors and power plants are

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