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My thought on Dollar vs Naira Headache - Business - Nairaland

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The Dollar Vs Naira, Can This Be Done? / Dollar Vs Naira- Beyond Sentiments / Naira Falls To 325 On Dollar Shortage -punch (2) (3) (4)

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My thought on Dollar vs Naira Headache by mentorken05(m): 1:30pm On Dec 20, 2015
President Buhari said a lot during his campaign days, some were simply un achievable because of 'these forces'...(Physical, psychological socio-economic,spiritual)
The one that I wanna pick now is that he would make naira get even with the dollar.
From onset this is very very easy to achieve and very very difficult to achieve.
Easy how? Just remove two zeros and you are there(then get ready for inflation).
Difficult how? Capitalism frowns at deliberate manipulation of the currency and the value is influenced both by local and international factors.
Nigerians are wailing and killing themselves over the value of the naira vs the dollar cos ours is an import dependent economy. for the very minute few that export goods and services, they love the weakness of the naira and are smiling to/from the banks.
A STRONG CURRENCY WITH WEAK ECONOMY IS A CURSE, A STRONG CURRENCY AND A STRONG ECONOMY IS A BLESSING, A WEAK CURRENCY WITH STRONG ECONOMY IS A BLESSING, AND A WEAK CURRENCY AND A WEAK ECONOMY NA WINCH, NA IM WORSE PASS(Nigeria's own case)
In parts of the world where the people know what they are doing and export more than they import, they NEVER wish for their local currencies to gain soo much against the dollar, some even go the extent of manipulating it to remain low (e.g, Chinese yuan and Japanese yen) causing spats with the other 'big boys' in the process.
If I were the President, I wouldn't lose sleep over the current naira vs dollar beef, I would rather sweat it out trying to fix the economy, make it less oil dependent and turn it around, then put up policies that will encourage people to produce locally and diminish the need for excessive importation.
Also, in case you don't know, with the free fall in the price of oil going on unabated, the government is all but happy with the value of the naira vs the dollar. don't ask me how, just apply the above reasoning.


Cc lasticlala..seun..mynd
Re: My thought on Dollar vs Naira Headache by dhummystecah(f): 2:02pm On Dec 20, 2015
Uhm. Okay
Re: My thought on Dollar vs Naira Headache by Chule(m): 2:06pm On Dec 20, 2015
first and foremost, make the change won't be an easy game.....

in fact to be infactic we are still sending in other words exporting oil to be refined outside Nigeria, should I talk about electricity┬┐┬┐

all things been equal, when our commodities down here can be affordable and there will be enough to export, bilivUME Nigeria will make much profit other than borrowing to get things down..
Re: My thought on Dollar vs Naira Headache by dominique(f): 3:53pm On Dec 20, 2015
This is the wake up call we need to diversify the economy.

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