bfire:


My guess is you are still a student who's learning the basics.

I'm in the real world where theory is applied to daily occurrences. The stage you are, I had done almost 30 years ago.

In short, I'm a realist. I practicalize the economic challenges daily; I'm not a learner.

Those are practical economic questions. What is hot money? What steps did Soludo take to insulate the economy from the effect of hot money.

The president is ruining the economy. I have written off the economy since July or probably earlier.

Sanusi, Soludo and Utomi have all condemned his economic policies. Utomi went as far as saying he should shut up.

He is a man of integrity but his economics suck. The naira will hit 600 this year if this budget is passed and he does not devalue. Financial Times of London called his foriegn exchange restrictions the height of foolishness.

clemzo101:
my friend don't be a dickk head, u talk like u are even dat enlightened, but its all poooo u ve bin writing.....name any country in d world as of today with its currency falling with d rate at which d naira is falling? Guy u need yo be schooled. May be wen it gets to 1000 naira to a dollar ur brain will start working...u are just a sentimental bigot

Mr D*ck head,
Naira is not falling, it has been benched at 197 to 199 for interbank rate, the price of 300+ you hear is at the parallel market, infact, a lot of other OPEC economies allowed their currency to keep falling against the dollar. It's same thing Madam Lagarde came to preach about. Receive sense while sensoring ur speech.
The bigotry and sentiments inside u cannot allow u to see d good side. Good things don't come easily.

It's is easier to destroy (GEJ), than to build (PMB). We all feel the current pains, but it is for a better tomorrow

omohayek:


Keep on fighting the good fight! Individuals like you with some understanding of economics are unfortunately few and far in between on Nairaland; it's strange how so many people can be so confident in their assertions about a subject they've never bothered to study ...

Thank you jo. They get under my skin.

All of una wey dey cry change, if una dey rule am sure if dem give una 16yrs for govt una no go achieve anything. Pls clearing and fowarding of corruption in nigeria is also my area of interest. If u want nigeria to be like america some years to come. Pls let PMB do his job. No one is perfect oooo, only God is.

grandstar:


Those are practical economic questions. What is hot money? What steps did Soludo take to insulate the economy from the effect of hot money.

The president is ruining the economy. I have written off the economy since July or probably earlier.

Sanusi, Soludo and Utomi have all condemned his economic policies. Utomi went as far as saying he should shut up.

He is a man of integrity but his economics suck. The naira will hit 600 this year if this budget is passed and he does not devalue. Financial Times of London called his foriegn exchange restrictions the height of foolishness.

How do you insulate the economy in this environment?

What are the injectectable practices that should occur under a mono-resource economy when faced with decline in foreign savings earnings comparative to export earnings.

You open to all sort of declines if your productivity level is not enhance to reducing your dependency.

A million devaluation can't stop dependency of easy rent money - oil.

I'm not saying devaluation is bad but, you must take into congnisance the economic instrument that affect substituting goods and services e.g agriculture imports

lordizak:
The rate of illiteracy in Nigeria is going high by the day. The rise in dollar is affecting many economies in the world, it's not restricted to naira alone. Many countries however, have devalued their currencies. PMB does not want to do same. He has concrete reasons, you can check the effects of currency devaluation. I just have more reasons to love pmb for his resilience. Wailers wake up everyday wanting to hear bad news, and they just keep getting heartache. God bless Nigeria.

my friend stop deceiving yourself ,in Spain,the prices of goods and services have been the same since may last year and we know Spain don't have any natural resource.

Acidosis:


Kindly suggest a better comment for Yemi Alade, as it's now wrong to complain.

Mind you, we're only holding onto APC's promises. Look at the banner below and give me 1 reason why you think you're smarter than Yemi Alade, Soyinka, Sanusi, Soludo & The Economist.

When we had N216 = $1, APC said "it's time to speak out", why are you silencing Yemi Alade now that $1 = N370?

Tell him! does PMB or our sole call leaders knows what an average Nigeria is going through?
Do they ply the same roads? use d same market? e.t.c. How do U expect him not to travel to Egypt or other countries every now and then.
How do U expect him/them to hasten up and find solution when none of them is affected?
It is well!

lordizak:
The rate of illiteracy in Nigeria is going high by the day. The rise in dollar is affecting many economies in the world, it's not restricted to naira alone. Many countries however, have devalued their currencies. PMB does not want to do same. He has concrete reasons, you can check the effects of currency devaluation. I just have more reasons to love pmb for his resilience. Wailers wake up everyday wanting to hear bad news, and they just keep getting heartache. God bless Nigeria.

When WE FEEL WE KNOW SO MUCH AND FORGET SO QUICKLY THAT INFORMATION IS KEY. FOOLS MAKE D MUST NOISE. THE BETTERMENT OF NIGERIA IS FOR ALL OF US AND NOT OF TRIBE OR RELIGION ONE COMES FROM. A GOOD LEADER IS ALL WE SEEK AND NOT THIS MUFU- LYING GOVT. GEJ IS WAY BETTER.

Acidosis:


Kindly suggest a better comment for Yemi Alade, as it's now wrong to complain.

Mind you, we're only holding onto APC's promises. Look at the banner below and give me 1 reason why you think you're smarter than Yemi Alade, Soyinka, Sanusi, Soludo & The Economist.

When we had N216 = $1, APC said "it's time to speak out", why are you silencing Yemi Alade now that $1 = N370 N400?

Yw

Waiting for the time 1000naira will b equal to a dollar. Dat time, it will be the original change we vote for.

Acidosis:


Kindly suggest a better comment for Yemi Alade, as it's now wrong to complain.

Mind you, we're only holding onto APC's promises. Look at the banner below and give me 1 reason why you think you're smarter than Yemi Alade, Soyinka, Sanusi, Soludo & The Economist.

When we had N216 = $1, APC said "it's time to speak out", why are you silencing Yemi Alade now that $1 = N370?

This was how Babangida and Abacha told Nigerians to suffer for the future, at the end of the day,their children became billionaires in dollars.

Seeing this post reminds me what an elder once said to me , as long as we the current occupier of Nigeria is still living we will always support impunity, 9 months already into this administration someone is already crying, and I ain't surprise Yemi Alade is saying this what am surprise about is the write in the post that says Second class citizen and the poor masses, someone should tell me when poor masses benefitted from the rise or crashing of dollar, do the average market woman transacts in dollars either by buying or selling?

And can the same Yemi tell me she is not happy with the rise? Atleast when she goes for shows abroad she bills in dollars and she will quickly come home to change it at the BDC shop cos the exchange rate is 360 to sell and she will deposit it into her acct praying for the dollar to crash so she can have more profit ....

I doubt if she knows western developed world are the worst hit by this oil drop.... Anybody who comes here to complain is in support of impunity cos I am sure they prefer to remain in the 16 fruitless years of a PDP than to change power and see if things are going to change and if not we change again until we get it right.

They promised us electricity, good roads, infrastructure,good railroad system, goodwater ways,security and many more goodies for 16years yet none came to pass instead they light up their house and some even have an airstrip at their country home am sure some of us that come here to shout has never experience 24hr electricity talk less of seeing a working train yet we support some thieves.


Try and visit countries outside Nigeria that are not even rich as Nigeria and you will see.

I guess some are happy with the PDP administration atleast you're going to get 5,000 and a bag of rice and that's if you're lucky and popular in your locality maybe once in 4 years during election.

I shake my head for we youths of today

i feel like reply her on her twitter handle if not that it is shitty relplying all this celeberity. she must be an illitrate, if not why would she be ignorant of the fact that nigeria is a monochratic economy tbay depends solely on forex from crude oil, and since the price of crude oil has dropped then the happening now is nothing but an expected one. and it isn't buhari faults, even though i am growing disturbed by the inactions of this government in regards to the economy i knw the dollar issue isnt buhari fault atal... beauty isn't brain afterall

d tin don ric ya syd yemi?

cruzita:
everybody was shouting change!!!change!!!.they didn't ask if its negative or positive change.

what of the Abacha and James ibori loot, Ghost workers and other corrupt officials recovered, not to mention almighty TSA of 2Trillion naira? The man has been transfering this money abroad through monthly travels

emperorchedda:
You didn't vote for change yet you suddenly start expecting change.

Madam yes the naira is highly losing its value but with patience and strong will we will get their

You don't expect a sharp and quick change in less than one year of a fresh government. Is it only a devaluing naira that makes a whole administration a failure??

You mean like we got over it after 1983-1993 fiasco?

I feel sorry for the General. Even highly educated elements have a say. Well that's democracy for you I guess.

ivili:
my friend stop deceiving yourself ,in Spain,the prices of goods and services have been the same since may last year and we know Spain don't have any natural resource.

The exchange rate of currency?. how many goods do they import?. stop feeling that u are smart, I stay tuned to CNN and other news outlets.

sniperr007:


Mention dat countries dat der economy is declining r d ones feeling d crunch. USA have not increased rates so y shud our naira b so weak. Its same rate & infact dey r tryin to stimulate spending so d dolla is early available.

Shameful dat u defend d sharp decline of our naira wen we import everything. Go to d ports & u c d decline in goods imported.

D economy dat was growing at 6% is expected to grow @ 3%. WATS dat called?

Inflation is rising,even bag of pure water has moved frm 80 to 120(Lagos). Where r we heading?
D economy is falling & d president is so concern abt looking at d past Dan d future/present.

This is an opportunity for our private sectors to boom. i still buy water for same amount. Transport should be cheaper now, but it's not, is that because of the rise in dollar? for once I am buying cement @ the cheapest rate. I remember that about 2008-2010 USA was hit by economic crisis and that was making the rounds. What amazed me was citizens response; some of them held conferences and others wrote books, and for once they didn't despair.

lordizak:
The rate of illiteracy in Nigeria is going high by the day. The rise in dollar is affecting many economies in the world, it's not restricted to naira alone. Many countries however, have devalued their currencies. PMB does not want to do same. He has concrete reasons, you can check the effects of currency devaluation. I just have more reasons to love pmb for his resilience. Wailers wake up everyday wanting to hear bad news, and they just keep getting heartache. God bless Nigeria.

Tinubu and his cohorts packaged an expired product in a new bottle for Nigerians to consume. Buhari is an expired product, period.

The same rise in dollar exchange that is affecting many other economies in the world today is what also affected the economies in the world when we had 216 to a dollar during GEJ tenure. Rather than reason along world economies, your visionless APC party leaders chose to call out GEJ because of 216 to a dollar exchange rate. Today you want Nigerians to shut up in the face of 370 rate to a dollar, I think you are better described as a two-faced back stabber than this conditional and sentimental patriotism you are pretentiously projecting.

babestella:



Tinubu and his cohorts packaged an expired product in a new bottle for Nigerians to consume. Buhari is an expired product, period.

The same rise in dollar exchange that is affecting many other economies in the world today is what also affected the economies in the world when we had 216 to a dollar during GEJ tenure. Rather than reason along world economies, your visionless APC party leaders chose to call out GEJ because of 216 to a dollar exchange rate. Today you want Nigerians to shut up in the face of 370 rate to a dollar, I think you are better described as a two-faced back stabber than this conditional and sentimental patriotism you are pretentiously projecting.

I am not giving up. How much did GEJ sell oil?, more that half of what buhari is selling. How much is Nigeria earning from crude?. we need our economy diversified, but even that taken into consideration, we need time, say; Almost a year, there's no quick fix.

Acidosis:


Kindly suggest a better comment for Yemi Alade, as it's now wrong to complain.

Mind you, we're only holding onto APC's promises. Look at the banner below and give me 1 reason why you think you're smarter than Yemi Alade, Soyinka, Sanusi, Soludo & The Economist.

When we had N216 = $1, APC said "it's time to speak out", why are you silencing Yemi Alade now that $1 = N370?

sorry thr dollar naira saga has not affected the masses yet a clear layman annalysis As a lay man, i have considered this:
Devaluation of naira: Genuine importers of raw materials will buy dollar at 350-400 naira, price of their finished good will increase. Purchasing power of everyone will drop. including the masses who dont deal with forex, BDC etc.
What is the proportion of Nigerians that is affected by 1 dollar = 350 naira today compared to when naira is devaluated??
With the current regime, Every demand for forex outside genuine importers of raw matertials buy at black market (including those of us who buy cloths from Aliexpress, ebay etc..), including those who enjoy luxurious Dubai travels. Does the current regime affect Mr Salako who eats Garri (ijebu), Tomatoe (Kano), Onion (Sokoto), and Beans (Adamawa) and palm oil (Ondo)Does it affect the cost of taking the average civil servant from his house to workDoes it affect the cost of buying 1 bag of Dangote cement to continue his 2 bedroom bungallow
Am sure tie and dye from Abeokuta or Aba made Jeans shoudnt be affected. So who are the real victims of this current regime of FX over-demand in the market?? My lay man perspective you may say........

lordizak:
The rate of illiteracy in Nigeria is going high by the day. The rise in dollar is affecting many economies in the world, it's not restricted to naira alone. Many countries however, have devalued their currencies. PMB does not want to do same. He has concrete reasons, you can check the effects of currency devaluation. I just have more reasons to love pmb for his resilience. Wailers wake up everyday wanting to hear bad news, and they just keep getting heartache. God bless Nigeria.

so you think he is making the best economic decisions? Let me correct an impression u have.This country is not about buhari, it is about nigerian people., their interest is paramount before any other parochial or sectional interest.if the president is making a mistake and people are complaining he has a duty to take a second look at why people are complaining and rectify the problem. It is not for people like you to praise and goad him on, to justify the decisions he has made.he was elected to serve nigerians, he is no God or superman.he is human, if he has made a mistake he can make amends.on the economy, what is wrong in consuming made in nigeria goods especially rice and some other products we spend a lot of money importing? Rice, cars, toothpick, poultry and dairy products, don't u think the value of the naira will shore up on its own? Even the president does not eat abakaliki or zamfara rice.and over 1.7b was budgeted for feeding in aso rock.if we do this, there will be less demand for forex, and the cbn wouldn't have need to defend the naira so much

Change indeed

lordizak:
The rate of illiteracy in Nigeria is going high by the day. The rise in dollar is affecting many economies in the world, it's not restricted to naira alone. Many countries however, have devalued their currencies. PMB does not want to do same. He has concrete reasons, you can check the effects of currency devaluation. I just have more reasons to love pmb for his resilience. Wailers wake up everyday wanting to hear bad news, and they just keep getting heartache. God bless Nigeria.

Wether he devalues or not,the naira has devalued itself already. What we are saying is simple,would we die because of the exchange rate?What positive move has PMB taken because of the economy? The only rubbish we hear today is "probe this and probe that" you all should desist from defending the indefensible please....

1miccza:


Wether he devalues or not,the naira has devalued itself already. What we are saying is simple,would we die because of the exchange rate?What positive move has PMB taken because of the economy? The only rubbish we hear today is "probe this and probe that" you all should desist from defending the indefensible please....

Come carry cane flog us.... mtcheewww

lordizak:
The rate of illiteracy in Nigeria is going high by the day. The rise in dollar is affecting many economies in the world, it's not restricted to naira alone. Many countries however, have devalued their currencies. PMB does not want to do same. He has concrete reasons, you can check the effects of currency devaluation. I just have more reasons to love pmb for his resilience. Wailers wake up everyday wanting to hear bad news, and they just keep getting heartache. God bless Nigeria.

So, can you tell us the advantages of PMB non-devaluation policy? Because, as it seem despite, his stance non-devaluation, the naira is devaluing itself on a daily basis and there nothing anyone can do.

We are going to hit rock bottom regardless, devaluation would speed up things and help spring growth more quickly...being stubborn regarding devaluations drags this for an extended period of time so is the pain and it will keep affecting Nigeria exports for an extending period of time.

Even the almighty US devalued it's currency and set interest rate at zero after the decline in 2008. At a point the $1.6 was exchanging for 1 Euro and people start saying that, the 'euro will soon replace dollars as major foreign reserve currency', well, recently the fed for the first in about 8yrs increased interest rate to a range of 0.25% to 0.5% and the euro took a nose dive and is projected to start trading below the dollar by at most dec.

lordizak:
Come carry cane flog us.... mtcheewww

Who be us?Who know you??

alexlee50:
so you think he is making the best economic decisions? Let me correct an impression u have.This country is not about buhari, it is about nigerian people., their interest is paramount before any other parochial or sectional interest.if the president is making a mistake and people are complaining he has a duty to take a second look at why people are complaining and rectify the problem. It is not for people like you to praise and goad him on, to justify the decisions he has made.he was elected to serve nigerians, he is no God or superman.he is human, if he has made a mistake he can make amends.on the economy, what is wrong in consuming made in nigeria goods especially rice and some other products we spend a lot of money importing? Rice, cars, toothpick, poultry and dairy products, don't u think the value of the naira will shore up on its own? Even the president does not eat abakaliki or zamfara rice.and over 1.7b was budgeted for feeding in aso rock.if we do this, there will be less demand for forex, and the cbn wouldn't have need to defend the naira so much

How much did the previous administration spend on feeding?. Na u sabi pass, I know many bloggers under the payroll of politicians. all this attempt to discredit PMB won't work, He has committed no offense by being my president. we are facing hard times as Nigerians not because of PMB, if he devalues the naira, he will be killing it. He's best bet is to wait, dollar will still fall. Go Google and type the rise in dollar and widen your knowledge. no come claim sense when u no get for NL.

1miccza:


Who be us?Who know you??

Oh! you no know?, By we I mean those who heard change, believed change, voted change, won election, still preach change, and presently defend and support change. Or those whose vote counted and those who keeps slaying the wailers. #Wailersneedpanadolextra.

Acidosis:


Kindly suggest a better comment for Yemi Alade, as it's now wrong to complain.

Mind you, we're only holding onto APC's promises. Look at the banner below and give me 1 reason why you think you're smarter than Yemi Alade, Soyinka, Sanusi, Soludo & The Economist.

When we had N216 = $1, APC said "it's time to speak out", why are you silencing Yemi Alade now that $1 = N370?

Who is silencing her