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Nairaland Forum / Nairaland / General / Politics / I Won’t Devalue Naira, Buhari Insists (31589 Views)
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I Won’t Devalue Naira, Buhari Insists by Jusmudi(m): 5:42am On Feb 21, 2016 |
Muhammadu Buhari has reiterated that his position not to approve further devaluation of the Naira President stands. http://www.vanguardngr.com/2016/02/i-wont-devalue-naira-buhari-insists-2/ 43 Likes 3 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by DonBobes(m): 6:05am On Feb 21, 2016 |
Let dem keep wailing, we will not devalue the Naira! Gbam!!! 176 Likes 6 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by Gombs(m): 6:09am On Feb 21, 2016 |
Make sure you don't take the war to the creeks... If you do, I promise you, you'd devalue the naira faster than the speed of light. Modified : Some folks think the creeks is bar beach. They've never been to these creeks and see understand why taking the war there means doom for our oil based economy. That is a war Mr president doesn't want to fight. Meanwhile... 47 Likes 6 Shares
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Re: I Won’t Devalue Naira, Buhari Insists by Aufbauh(m): 6:10am On Feb 21, 2016 |
There is absolutely no need to devalue the naira. The value of the local currency is determine by the values of its local commodities before the international community. Nigeria being an oil dependent mono-economy can not compete favourably with other multi-economic nations with the present downward trend in the oil market. For as long as the price of crude oil which is our main export commodity keep declining or remain at the sorry state our naira will remain in a similar state except we device or diversify our economy by encouraging local contents for local use and exportation. The good news is that with the sizes of human capacity and mineral resources we can be self sufficient and self sustain in the short term. 67 Likes 4 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by bewla(m): 6:16am On Feb 21, 2016 |
Good one but how does that affect the bread saller in agege 3 Likes 1 Share |
Re: I Won’t Devalue Naira, Buhari Insists by chidekings(m): 6:21am On Feb 21, 2016 |
truth is whether we devalue or not,we just pray for a miracle from the middle east 5 Likes |
Re: I Won’t Devalue Naira, Buhari Insists by Jusmudi(m): 6:34am On Feb 21, 2016 |
chidekings:So miracle don dey hapn 4 middle east? 9 Likes |
Re: I Won’t Devalue Naira, Buhari Insists by Aufbauh(m): 6:39am On Feb 21, 2016 |
Ironically those clamoring for the devaluation are still the ones that have brought the naira to this sorry state. When we had oil boom in the recent past, those short sighted and lazy criminals rally importation instead of investing in local productions. The likes of Ben Bruce fail to discover their common sense then to patronize Innoson and Aba made probably because there was plenty in the land to throw around to Europe and America. The fall of the naira will definitely herald the rise of Nigeria and Nigerians. We must look inward to grow the naira. With the high rate of unemployment in the country we must discourage foreign dependent policies and practices. Local productions means gainful employment for the locals. People needs to be engage and taken off the streets, in this way they will see themselves as stakeholders in the Nigerian project and will buster their patriotism. 118 Likes 9 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by Jusmudi(m): 6:53am On Feb 21, 2016 |
Aufbauh:Bros Hmmmmmmmmmmm I nr toc ooooooooooooo |
Re: I Won’t Devalue Naira, Buhari Insists by onatisi(m): 6:54am On Feb 21, 2016 |
chidekings:Thank you. Devaluation of the naira would have had positive impact on the economy if it was done early or middle if last year in addition to the several measures taken by the smart intelligent cbn gov,but what we had was a president who his party claimed was on political honeymoon and was busy globetrotting all over the world. Hr wasted 7 solid months before finally choosing an economic team by which the matter had gone out of control and hand ,now the devaluation of the currency is meaningless and senseless because the currency has been devalued already and the gap between the official rate and black market rate is too wide . Nigerians will suffer a lot for this but maybe in the next 5 years things will turn around or just like u said a miracle happens in the middle east. Lets pray Saudi,Iran,Iraq and Russia all go to war on the same day 26 Likes 1 Share |
Re: I Won’t Devalue Naira, Buhari Insists by acenazt: 7:21am On Feb 21, 2016 |
Gombs:e be like u neva know say even water dey catch fire. 8 Likes |
Re: I Won’t Devalue Naira, Buhari Insists by acenazt: 7:26am On Feb 21, 2016 |
Mtcheew. Where dem want devalue d naira go? Abeg oh Economically it would be a bad move. Crude price wont rise so there would be a though struggle. Bt i believe the rainy season is close so why not prep up 4 massive subsitence agriculture,mining and start exporting? after all we been get pyramids b4 7 Likes 1 Share |
Re: I Won’t Devalue Naira, Buhari Insists by myopinion2011: 7:28am On Feb 21, 2016 |
d same way u were urged to removed subsidy u declined, because u once nailed past administration about it, later u removed it without making noise. I'm sure, u will stil yield, because u are yet to understand d economics dat it contains. 17 Likes 1 Share |
Re: I Won’t Devalue Naira, Buhari Insists by Nobody: 7:38am On Feb 21, 2016 |
is it nt best d naira is bin devalued n be stable dan dis every minutes degrading? i kip on saying ...,....... presidency under buhari is totaly vissionless, misionless, directionless, emotionless, motionless etc.......... ONLY GOD GO HELP US FOR DIS KIND WAHALA WE CARRY OURSELVES GO PUT FOR NAIJA!!!!!!! 3 Likes 2 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by Jusmudi(m): 7:40am On Feb 21, 2016 |
myopinion2011:Hw many origin do u want 4 Likes |
Re: I Won’t Devalue Naira, Buhari Insists by myopinion2011: 9:07am On Feb 21, 2016 |
Jusmudi:only one go do me my brother. thanks jare. 6 Likes |
Re: I Won’t Devalue Naira, Buhari Insists by Sibrah: 9:18am On Feb 21, 2016 |
Buhari is on the right track here. No devaluation is needed. Let the dollar account of all exporter fund the import needs of importers. What we have had is a case of govt giving out dollars from oil sales to importers who add no value to the system but help promote capital and employement flight. Nigerians have been net consumers for too long, if you are truely productive and reasonably competitive, sell your products and services to the dollar market and buy what you need with the dollar earned, not you going to govt for dollars. Buhari can't subsidize every toothpick, mascara, toothpaste, noodle, DSTV subscription with non-existent Dollar that isn't his fault. Importation of those things means a foreigner is employed for its production and the wealth generated in Nigeria has been transferred to the foreigners hand for the forseeable future. For even offering to give hard earned Dollar out at a low rate to importers of certain items is a plus from the Buhari govt. If you are productive and competitive on global standard, then earn your own dollar. What we are paying for today isn't really oil earning reduction but lack of productivity and global competitveness in time past. 70 Likes 6 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by RichYoungNigger(m): 9:36am On Feb 21, 2016 |
Please. Don't devalue the naira. I want $1 to be 2,000 naira. I've been busting my ass working in the USA just to be very rich in Nigeria. Some people hate the fall of naira but that's what Nigerians living in the USA pray for. When i come back to Nigeria with $25,000, do you know how much i will exchange it for ?? I will worship you forever if you don't devalue the naira. Buhari is the only person i love in this world and i hope he rules Nigeria for 90 years 21 Likes |
Re: I Won’t Devalue Naira, Buhari Insists by Harmored(m): 9:37am On Feb 21, 2016 |
SAI BABA 1 Like |
Re: I Won’t Devalue Naira, Buhari Insists by ednut1(m): 9:37am On Feb 21, 2016 |
person wey no sabi wetin devaluation mean . btw is d CBN not autonomous 5 Likes 1 Share |
Re: I Won’t Devalue Naira, Buhari Insists by UrbanMystique: 9:38am On Feb 21, 2016 |
Exactly.. Dumb wailers want our naira devalued, so when we start buying toothpick that costs 10 naira at the rate of 100 naira, then come back and tell us that voted change I TOLD YOU SO. They want to turn us to Zimbabwe where a loaf of bread costs 1 billion. Why would any right thinking person think devaluing naira is what we need right now is beyond me. A mono economy like nigeria. China or USA can decide to devalue naira and benefit immensely from it. Afterall, They are major exporting nations. A single sector can buy some countries in Africa. Google or apple alone is far richer than some countries in Africa. Not to talk of Disney land, Hollywood or other sectors. Unlike Nigeria where everything is oyel, and the oyel is even becoming valueless. 27 Likes 2 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by godoluwa(m): 9:38am On Feb 21, 2016 |
lmao, naira is already devalued. theres inflation in prices of every commodity including those that has nothing to do with forex e.g bread 14 Likes 2 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by Saladin25(m): 9:38am On Feb 21, 2016 |
Baba I am in support of it. God bless PMB. A good leader. 7 Likes |
Re: I Won’t Devalue Naira, Buhari Insists by Nobody: 9:39am On Feb 21, 2016 |
So long as he understands the economics and mathematics of his decision, let's support him. However, I don't think a 70yr old enjoys flying around and dealing with jetlags. So his trips are unavoidable 23 Likes 2 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by babyfaceafrica: 9:41am On Feb 21, 2016 |
Gombs:which creeks?..u dey for oshodi dey sell spare part dey make noise with your 10mb...abeg sweve 41 Likes |
Re: I Won’t Devalue Naira, Buhari Insists by Nobody: 9:42am On Feb 21, 2016 |
g |
Re: I Won’t Devalue Naira, Buhari Insists by naijaking1: 9:42am On Feb 21, 2016 |
This is what happens when the president doesn't have WAEC. Basic economics would have shown him the light a long time ago. 7 Likes 1 Share |
Re: I Won’t Devalue Naira, Buhari Insists by obailala(m): 9:42am On Feb 21, 2016 |
The naira has since been devalued, just that 'subsidies' on the dollar is being paid by cbn to importers of fuel, raw materials etc 2 Likes 2 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by skyface00(m): 9:43am On Feb 21, 2016 |
Devalue of Naira lolz we don't even export anything, u devalue ur currency when u have more commodities to sell to the world. A negative mind will never give you a positive life. People should allow this man to work 12 Likes 3 Shares |
Re: I Won’t Devalue Naira, Buhari Insists by kennyman2000(m): 9:43am On Feb 21, 2016 |
ohh boy. But, its been devalued already naaaw 3 Likes 1 Share |
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