aresa:



Why are you crying now that bread is N1000?

Do you not know that when you steal your treasury dry, when you drain and share your foreign reserve, when you mismanage your resources and when you refused to save your money when you were making $100/per barrel from oil sales for rainy days like today when oil is selling for $27 that there's going to be serious consequences down the road like when bread is 400 naira like you are complain now.


You sad there like mumu for 16 long years shouting GEJ till 2019 when they were doing serious damage to your economy, while they were looting and sharing your reserve, now you are crying over bread and looking for somebody to blame for your mumuness..


You better wake up and smell the garri, there's no free lunch of free ride after failing to save and prepare for tomorrow, you reap what you sow..

I am not someone who believe in the blame game like the moronic simpleton you are.

I am a full Buharist but not a sentimental, illogical one like you.

Buhari should stop the forking travels and face what he was elected to do. Simple. It's a matter of time before we reach the 2019 election window and then Nigerians will decide.

The only thing I see him doing is "fight" corruption.

Is that the only thing plaguing the country? Is that all we shall be hearing till four forking years elapses?

[s]

2sex:
I am not someone who believe in the blame game like the moronic simpleton you are.

I am a full Buharist but not a sentimental, illogical one like you.

Buhari should stop the forking travels and face what he was elected to do. Simple. It's a matter of time before we reach the 2019 election window and then Nigerians will decide.

The only thing I see him doing is "fight" corruption.

Is that the only thing plaguing the country? Is that all we shall be hearing till four forking years elapses?

[/s]


Same unintelligent rant...

chinchum:
No devaluation of Naira will bring about reduction in the rate at the parallel market.

Dollar is scarce because there is restriction to access, there is restriction to access because we are low in foreign reserves, 27 billion usd (almost 12 years low). Nigeria can not afford to run out of foreign reserves.


If cbn devalues naira from 197 to 260-270, parallel market rate will speedily climb to 400.

The mid term solution is access restriction for now, or else we run out of foreign reserves, long term solution is to think export apart from crude oil in large quantities to earn foreign exchange.

There should be control measures by CBN to prevent round tripping by those with access to dollar at official rate of 198

#BRINGBACKBDCOPERATOR this one of the solution currently.

OGOg:
Where is 4play when u need him most

These debates are akin to flogging a dead horse. Most reasonable people can see that the present policy framework is not working. Many months ago I noted that a fixed exchange rate may be retained long after the market rate has substantially diverged as to render the official rate meaningless. During the Abacha regime, the fixed rate remained at 22 Naira to the dollar whilst the market rate got to 85 Naira to the dollar. This created an excellent opportunity for "round-tripping", i.e., buying dollar at the official rate and selling at the market rate.

This being Nigeria, corrupt interests are formed and converge to exploit these opportunities and to denounce those who criticise the exchange rate policy as exploiters of the masses and the representatives of malicious foreign interests. Because political loyalty in Nigeria is based mainly on ethnic and religious affiliation, bad policies will subsist for long notwithstanding the compelling arguments offered by real world experiences.

4Play:


These debates are akin to flogging a dead horse. Most reasonable people can see that the present policy framework is not working. Many months ago I noted that a fixed exchange rate may be retained long after the market rate has substantially diverged as to render the official rate meaningless. During the Abacha regime, the fixed rate remained at 22 Naira to the dollar whilst the market rate got to 85 Naira to the dollar. This created an excellent opportunity for "round-tripping", i.e., buying dollar at the official rate and selling at the market rate.

This being Nigeria, corrupt interests are formed and converge to exploit these opportunities and to denounce those who criticise the exchange rate policy as exploiters of the masses and the representatives of malicious foreign interests. Because political loyalty in Nigeria is based mainly on ethnic and religious affiliation, bad policies will subsist for long notwithstanding the compelling arguments offered by real world experiences.

Excellent speech.