chiefolododo:
E be like say you are sick

jaybee3:
olodo rabata (***I'm just joking ooooo***)

You haven't factored purchasing power into your analysis.

oyinkinola:

this is your opinion? you are not my doctor to "___" examining me!
your type is not welcome on this trend!
it was aimed at those who were SYCOLOGICALLY A1

jaybee3:
olodo rabata (***I'm just joking ooooo***)

You haven't factored purchasing power into your analysis.

oyinkinola:


PURCHASING POWER

...Purchasing power is no longer an issues nowadays, it's globalisation in which china control world commerce and business and you were not force to go to black market or parallel for exchange before having $

jaybee3:


Lo ba tan

oyinkinola:


PURCHASING POWER

...Purchasing power is no longer an issues nowadays, it's globalisation in which china control world commerce and business and you were not force to go to black market or parallel for exchange before having $

anjigirl:
You will go hungry if dollar hit 1000naira today

oyinkinola:


PURCHASING POWER

...Purchasing power is no longer an issues nowadays, it's globalisation in which china control world commerce and business and you were not force to go to black market or parallel for exchange before having $

jaybee3:


Okay let me school you a bit

If the Naira was to weaken to about N1k to the $ then expect the following ripple effect:

Cost of importing refined crude will sky rocket
Cost of importing machinery for our raw materials will increase
Cost of goods and services will have to increase to augment the exchange rate parity

BUT

Can wage increase considering our major export is close to having a junk status?
The common man on the street will suffer if wage doesn't increase in line with rising prices
Business will fold up and job losses will start springing up like it's going outta fashion

Can you now see it's not a good idea to have such narrow mindset as yours?

oyinkinola:

then the expoted crude will pay ₦?

oyinkinola:

Cost of importing machinery is compulsoryfrom america?

bluntspade:
Nigeria is doomed if that happen.. op did u go to school at all?

jaybee3:


The government pays the exchange rate differential for crude importers.
We frankly don’t sell enough crude due to dwindling market share to offset the cost of rising demand for refined crude.
Our refineries aren’t working to optimum in order to provide some sort of cushion to that effect



I’d rather you admit you are clueless rather than coming up with suggestive conjectures. There is something called exchange rate cross in finance. A weakening of Naira against the dollar will also affect the pounds or any other currency to that effect. In simpler terms, a weakening of Naira against the dollar will transcends to weakening against Yen or Yuan

oyinkinola:


...another dead theory
ok, if I change my ₦ at an official price today and imported product in china or japan , what it's effect of it economically nigeria today?

oyinkinola:


Cost of importing refined crude will sky rocket
then the expoted crude will pay in ₦?
Cost of importing machinery for our raw materials will increase
Cost of importing machinery is compulsory from america?
Cost of goods and services will have to increase to augment the exchange rate parity
Cost of goods and services will have to increase to augment beause we are to hire amrican or foreigners?



Can wage increase considering our major export is close to having a junk status?
The common man on the street will suffer if wage doesn't increase in line with rising prices
Business will fold up and job losses will start springing up like it's going outta fashion

I see why this country is in dilemma!
the business man change his ₦ to $ in official price, only to return back sell his product in parallel market price! why shoudn't the price rising?
it was not because of $ that Business will fold up and job losses but because of your self interest upon the nation!
all goods and services in nigeria today were independent of $!

If we have and enforce the price control rule and regulation all our problems are solved in this country!

oyinkinola:
[s][/s][b]....there are very many commentary on depreciation of ₦ nowadays expecially in parallel market, although parallel or black market can be manipulated by the traders, they either do it on their self interest, so those who doesn't beleive in the prosperity of nigeria can harbour $ as they can on imported goods hereby cause hike!
But in my own point of view the depreciation of ₦ is a great success to this nation if well manage to nigeria situation today. the looted fund is in $ and it must be refunded back in $, so if $1 is ₦198 when the money is looted, then if the money is refund today at $1 to ₦350 the nation has gained ₦152!
imagine if $1=₦1000, the gain is ₦902!
So in conclusion if the government managed to refund the $trillion looted and the refunded money, change it in parallel market, this will reduce the pressure on ₦ and the scarcity of $ in parallel market so the ₦=$.

(take note all the money took out of CBN during jonathan regime were changed in parallel market before ditributed)

you have other opinion[s][/s]?[/b]

oyinkinola:
....[s][/s].can somebody enlight me why all the money looted During jonathan regime were in $ not in ₦? and why it was changed in parallel or black market and not in official price before distributed[s][/s]?

oyinkinola:

....[s][/s]I never go to school! the problem of you people is the dead theories on your head, and with these theories you rule this country to failure, and you will never agree to any other opinion that contrary to those theories!
I said and I maintaned that the world is diversity, 90% of the products in nigeria today comes from china and you people want to proof to me that depreciation of ₦ to dollar$ would end the life of Nigerian![s][/s]

Abidex35:


who will provide the naira to $ to u for importation frm china/japan at official rate? .....from whch reserve....Nigeria's or America's?

Mr man, You need more knowledge of economics!

And moreover, not all looted funds are going to be recovered in $$$ , it seems you don't knw why our naira got here?.....dwindling reserves and falling oil price........is it from a dwindling reserve ( and almost dry reserve) that you will get $$$ for China importation?

peacengine:


Ask Abacha

justi4jesu:
Op check your brain

oyinkinola:


...Banks, precisely CBN!
...I won't go to school, and I didn't need the dead economics theory that hold african country poorest since independent till date!
...why shouldn't the looted fund, looted in $, shouldn't be recorvered in $?
...before the oil price is down today, it had been higher before, then we must recovered the looted $ changed it in parallel market and invest it in budget for the wellbeing of the poor masses ......that's my own theory

peacengine:


Hope it doesn't end yours too