this is bad. God help us

eledalo:


You claim to be one of his close advisers and regularly meet with him. Can't you tell him this to his face?

It is clear no one can approach him let alone pass advice. Couple that with the 'yes men' and you have a cocktail of misadventure. It is good for a leader to be hard but it is bad for him to be feared.

What do u expect 4rm a government that doesn't have anyboy below d age of 40 in its cabinet.....brains of the early 90's ruling in d new millenium.

People with real faith don't lose hope. It's just 6 months, let's pray the change we voted for works. God bless Nigeria .. End time news though

goldengift025:
they can go, they help scatter the economy now no way to defraud us again they are packing there bags.... thats good. till shell or total leave then i ll know the economy is in shambles

Don't mind the fake investors.
They are all money laundrers and it is no longer business as usual. No more looted funds to launder. Pack your bags and go!! Fukking thieves.

cramjones:

-CramJones

I like this old troll .

hmmmm, these was wot I envisaged earlier but most of my friends/Nigerian preferred to choose "CHANGE" instead of "CONTINUITY", Now we are beginning to reap d fruit if our decisions.
may God help us!

It is now I see the intelligence of Madame Dr Ngozi Okonjo Iweala... That woman is truly a brain.

Useless apc liars crooks wicked president u AR d petroleum minister yet there is fuel scarcity worst than ever b4 uptil 2day no salary u relocate defense hq 2borno bokoharam is getting stronger by d minutes killing n destroying u are killin Nigerians wit ur mumu stupid aboki I hate u wit a passion buhari n God wil punish u n ur followers

vladimiros:


[size=13pt]what thype of Economist thinking is that, are you high?

Nigerian population is not as liquid as FDI, secondly our Banks dont give loans to the average Man.. so where would he put money into Stock to outpace an FDI? WHERE??

its make do with what you have abeg, don't bring too much book into this, [/size]

Make do with what you have, in essence maintain that vicious cycle of poverty. Why ask me to take responsibility? if the choice not to think out of the box is entirely yours alone.

9jatatafo:
They called GEJ the clueless one. Now between PMB and GEJ, who is the clueless one?

BuBu is super clueless

vladimiros:


[size=13pt]Devaluing the currency would save us, there is no liquidity because we are fighting devaluation and how is that working out so far for us?

Europe devalued, Australia devalued, China Devalued, but Nigeria is holding tight monetary policies because we are God abi?
[/size]

PMB is right to refuse devaluation, our economy is not primed to enjoy the benefits of devaluation like the countries you mentioned above, ours is an import dependent economy. The primary aim of devaluation is to reduce the value of our currency in relation to other currencies, thereby reducing the value in price terms of goods and services produced in Nigeria in relation to i,e the dollar. Lets get the analogy right (pls i am not trying to prove i know), i,e if 1 dollar exchanges for 100 naira and a bottle of coke is 100 nairain Nigeria, if Nig decides to devalue say 200 naira to 1 dollar, it means that for the international investor his 1 dollar can now get him 2 bottles of coke in Nigeria and for the citizens like you and i, the implication will be higher inflation or prices in the short run to buy a bottle, Cocacola been a company that buys raw materials from abroad in dollars, in sourcing for funds from CBN will buy dollars at 200 naira to 1 dollar from CBN, something it buys at 100 naira before devaluation. To meet up the cash demand, CocaCola ltd since it must buy raw materials from abroad, will increase the price of her coke to cushion the effect, the people suffer as prices will keep pushing up (inflation), the upward demand for dollars will always be there as long as our companies cannot source raw materials at home.
The countries you mentioned produce most of there industrial raw materials locally hence they can enjoy the benefit of devaluation unlike us. PMB is only trying to protect the people hence his refusal to devalue, with dwindling oil price the major source of dollars, Boko haram, oil theft, kidnapping the country won't even enjoy the initial benefits of devaluation and it will crumble his Govt, PDP will turn round to laugh at Pmb. Take it from me, the best for now is what Pmb is doing, restrict foreign exchange and fight to maintain the currency until our foreign exchange earnings improve. Don't get me wrong, devaluation is good if only we are self sufficient in most of our raw material needs. Till date the U.S.A. Fights with China any time China devalues her currency, why? It will become cheaper to buy cars from China than in the U.S. I am stir trying to phantom out how devaluation affects liquidity according to you, because what i know that affects liquidity is Govt expenditure, salaries, payment of contractors or capital vote. Devaluation will not increase liquidity in the system as the current cash crunch has to do with non release of Capital vote since 2nd quarter of 2014 and the strict implementation of TSA that took all Govt ideal cash from the banks. The situation is precarious i accept, but Pmb did not cause it.

NwaNimo1:
Change - I hate that word!

We told them that change could be for d worse,they refused to listen.
Now,na them de wail pass.

I hope by next year Nigerians will not start trekking to office and back home to drink garri before going to bed.

Buharinomics working, but sadly it's retrogressively pulling Nigeria into a black hole.

Beehshorp:







I know dry season and heat is always accompanied with mental disorder so I declare with the power vested in me "receive sense"

hahahahahaha, abeg no kill person with laff o!!!

I do pity some people who dont know anything about economy, talk-less of that of a nation. Nigerians keep attacking themselves all becos of a political divide created by politicians and poluted by same politicians.
Nigeria is gradualy going bankruptcy and everyone think its a joke. During the time of jonathan there was more money in the economy which the foriegn investors saw and made them come down to invest in the economy, right now oil prices in the int. market is down by less than 3times of what it used to be and qhat the investors need right now is a govt who has a direct future in turning the events into positivity for what will improve their business in the future(a policy) and that's were the president is lacking an economy drive power, he is a soldier(general) with not much idea of how to change the fortune of a nation with such a predicament of an economic meltdown going all around the world. People are suffering, dying and confused and all they need is HOPE not this propanganda change pls.

goodluck to them.a lot of this company are involved in fraudulent practices and offer channels to siphon the national treasuries.good riddance to bad rubbish.

Lalasticlala / Seun,

Threads like this should not make front page till it gets to Page 2 or so. Let it be discussed first in the Investment section.

Cheers.

PHIPEX:
I laugh in Swahili. They said once our king fights corruption to a standstill foreigners will beg to come to Nigeria. They said our PhD holder didn't do well so let WAEC holder take over. Let's keep watching as the economy collapses.

WAEC holder or rather PHCN/NEPA bill holder?

Buy low, sell high.
Be fearful when others are greedy, and greedy when others are fearful...

DECEMBER IS LOOKING LIKE A GOOD TIME FOR MARKET ENTRY!!!

Kai

Sant1m:

PMB is right to refuse devaluation, our economy is not primed to enjoy the benefits of devaluation like the countries you mentioned above, ours is an import dependent economy. The primary aim of devaluation is to reduce the value of our currency in relation to other currencies, thereby reducing the value in price terms of goods and services produced in Nigeria in relation to i,e the dollar. Lets get the analogy right (pls i am not trying to prove i know), i,e if 1 dollar exchanges for 100 naira and a bottle of coke is 100 nairain Nigeria, if Nig decides to devalue say 200 naira to 1 dollar, it means that for the international investor his 1 dollar can now get him 2 bottles of coke in Nigeria and for the citizens like you and i, the implication will be higher inflation or prices in the short run to buy a bottle, Cocacola been a company that buys raw materials from abroad in dollars, in sourcing for funds from CBN will buy dollars at 200 naira to 1 dollar from CBN, something it buys at 100 naira before devaluation. To meet up the cash demand, CocaCola ltd since it must buy raw materials from abroad, will increase the price of her coke to cushion the effect, the people suffer as prices will keep pushing up (inflation), the upward demand for dollars will always be there as long as our companies cannot source raw materials at home.
The countries you mentioned produce most of there industrial raw materials locally hence they can enjoy the benefit of devaluation unlike us. PMB is only trying to protect the people hence his refusal to devalue, with dwindling oil price the major source of dollars, Boko haram, oil theft, kidnapping the country won't even enjoy the initial benefits of devaluation and it will crumble his Govt, PDP will turn round to laugh at Pmb. Take it from me, the best for now is what Pmb is doing, restrict foreign exchange and fight to maintain the currency until our foreign exchange earnings improve. Don't get me wrong, devaluation is good if only we are self sufficient in most of our raw material needs. Till date the U.S.A. Fights with China any time China devalues her currency, why? It will become cheaper to buy cars from China than in the U.S. I am stir trying to phantom out how devaluation affects liquidity according to you, because what i know that affects liquidity is Govt expenditure, salaries, payment of contractors or capital vote. Devaluation will not increase liquidity in the system as the current cash crunch has to do with non release of Capital vote since 2nd quarter of 2014 and the strict implementation of TSA that took all Govt ideal cash from the banks. The situation is precarious i accept, but Pmb did not cause it.

I wont bore you 2much with a lengthy article, I have one question only, name 10 raw materials obtainable in china to aid its massive export Economy, China being the king of currency devaluation at recent times, even the USA accused them of this.
http://www.theguardian.com/world/2015/aug/13/china-devalues-yuan-for-third-straight-day-adding-to-fears-of-currency-war.

And as 4 the foreign exchange, he is depleting them
8 billion dollars from foreign reserve
6 billion dollars left to him from NNPC and NLNG by Deziani
2 billion dollars loan from world bank for insurgency
Add daily income from crude oil sales for 6 months
I'm not saying PMB embezzled these funds, but they are being used as we Nigeria have less income coming in so we are using what we have saved,My question is when we finish these reserves, what then Me and U would have wished we Devalued the currency to encourage much needed foreign exchange.

ooshinibos:


no way , GEJ will never come back ...he is the cause of all these issue Buhari inherited .... you cannot fix a 6 year problem in 1 year ... after 2.5 years of APC and nothing improves then we can wail ..and kick out Buhari and replace him with IBB

but why your life dey like this? Just read the rubbish you're typing. And you're still blaming PDP and GEJ? Get sense you no gree

denedene:
An apc supporter once told me "i see people who support Jonathan as people whose education is wasted". Today, the boy hides from me. He's always waiting for good news till date none. I know apc will soon bring a cooked up story that one official from the previous administration stole a gargantuan amount to divert attention smh

bros Buhari is still far better than Jonathan by miles, don't deceive yourself.

darlingtonVII:
but why your life dey like this? Just read the rubbish you're typing. And you're still blaming PDP and GEJ? Get sense you no gree

why do mean Nigerian Man..GEJ ruled for 6 years ...as the most educated President we ever had but we didn't feel his impact .. we told him to focus on the electricity infrastructure and bring Nigeria into the limelight but he did not deliver , I tell you bruv ..if Jonathan had use all the power at his disposal to fix the electricity issue in Nigeria (even up to 60 percent)... he will be president for life and the world will love him ... but the phd holder and his cronies had no clue ..actually ,if I was in his position I will be the first Nigerian president to self appoint assign minister of power and works to the presidency...
sorry bruv ,the truth is bitter , Jonathan had the power to upgrade Nigeria to a country to can generate electricity for his citizens and sell to other countries but he failed and failed again like his predecessors ..the only good thing he did was to relinquish power to the winner of the past election , I respect him for that

THIS MAN CALLED BUHARI IS ON A MISSION TO FINISH NIGERIA, NO AGENDA WHATSOEVER. ENDTIME PRESIDENT

ooshinibos:


why do mean Nigerian Man..GEJ ruled for 6 years ...as the most educated President we ever had but we didn't feel his impact .. we told him to focus on the electricity infrastructure and bring Nigeria into the limelight but he did not deliver , I tell you bruv ..if Jonathan had use all the power at his disposal to fix the electricity issue in Nigeria (even up to 60 percent)... he will be president for life and the world will love him ... but the phd holder and his cronies had no clue ..actually ,if I was in his position I will be the first Nigerian president to self appoint assign minister of power and works to the presidency...
sorry bruv ,the truth is bitter , Jonathan had the power to upgrade Nigeria to a country to can generate electricity for his citizens and sell to other countries but he failed and failed again like his predecessors ..the only good thing he did was to relinquish power to the winner of the past election , I respect him for that

In same APC Broom can I dare to say how would it be possible for GEJ to fix the decaying power sector of accumulated decay of up to 25 years in 6 years Sounds familier

They can go to hell if they lik,they ll still come back pleaading2b re-enlisted again...!What is dis Bloomberg ppl sef?

Na foreigners go development the economy, why do we like short cut,let start producing stuff we use and see if they don't come back

The investors running are the once that benefited from our corrupt ex leader aka clueless.

As the year is winding up I will go and do thanksgiving for now been idiotic by voting APC

I saw this coming

For those that are saying go go go let me remind you that the city of London is rich today because of its financial status. Investors troop in to invest on many things. City of London manufactures nothing but it's the engine room of UK economy. Be mindful ofvqhat you wish for.