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I Won’t Devalue Naira, Buhari Insists - Politics (4) - Nairaland

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Re: I Won’t Devalue Naira, Buhari Insists by alt3r3g0: 11:31am On Feb 21, 2016
naijaking1:
This is what happens when the president doesn't have WAEC.
Basic economics would have shown him the light a long time ago.

The light that a Phd holder and minister of finance with plenty foreign experience did not see in six years of plenty?

5 Likes

Re: I Won’t Devalue Naira, Buhari Insists by habsydiamond(m): 11:38am On Feb 21, 2016
If na GEJ he for don turn naija to zimbabwe. Let PMB be ooooo
Re: I Won’t Devalue Naira, Buhari Insists by kYjelly2: 11:46am On Feb 21, 2016
alt3r3g0:


The light that a Phd holder and minister of finance with plenty foreign experience did not see in six years of plenty?

That means with dullarpo, that got F9 in math, we are all royally fvcked angry

No wonder the naira is diving faster than a Russian submarine under the Dullard 1 of Daura, D1D, undecided

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by light004: 11:50am On Feb 21, 2016
DonBobes:
Let dem keep wailing, we will not devalue the Naira!
Gbam!!!

The black market rate tells you the really value of the naira, how many transactions are carried out using the CBN rate? The CBN rate is official and only a few can access the dollar at that rate but majority get the dollar at the black market. Unless and until the CBN rate is available to everyone without any restriction, the black market rate reflects the true value of the naira.

Even those with legitimate transactions today cannot access the dollar through the official channels, no one is saying devalue if you have all the dollar to meet legitimate needs but the situation today shows that everyone is suffering both those sourcing through the official rate and black market rate.

2 Likes

Re: I Won’t Devalue Naira, Buhari Insists by Igbo20(m): 11:54am On Feb 21, 2016
you have been devalue d currency.no need of talking trash
Re: I Won’t Devalue Naira, Buhari Insists by Olaone1: 12:01pm On Feb 21, 2016
Buhari is right. What are you guys on about? Why do you all think devaluation is good for Naija? In fact, devaluation is bad for the common man. It only favours the government. With devaluation, meeting recurrent expenditure becomes easier for his administration. Yet, Buhari doesn't want to schlep that awkward route that benefits no one. We should applaud him for that

2 Likes

Re: I Won’t Devalue Naira, Buhari Insists by kitone: 12:01pm On Feb 21, 2016
SOME PEOPLE WEY NEVER SEE DOLLARS BEFORE THEY SHOUT DEVALUE,MSTHEWWW
Bobskylo:
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!!!!!!!

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by Okobaba1(m): 12:11pm On Feb 21, 2016
Any1 still blaming past administrations for mismanagement is being myopic. Why? Because by now a new administration with plans and purposes wud hv bn steadily laying some solid foundation for evry1 to see. This blmae games hv to stop.

There is no point devaluing d Naira as it stands because it wud be of no goo to any1. The only thing we cn do nw as a nation is to convey a National Economic Emergency Forum chaired by the president and all patriotic stakeholders to look into how each person can play a particular role in d years leading to our path to economic recovery because it is only thru dt means dt we cn get out of dis Economic quagmire.

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by afonjay: 12:11pm On Feb 21, 2016
A plate of amala is still #150 what concernme abt forign Rice while NUPE n ABAKALIKI rice available everywhere even casava bread is as sweet as oyin agoyin

2 Likes

Re: I Won’t Devalue Naira, Buhari Insists by Smooyis(m): 12:15pm On Feb 21, 2016
myopinion2011:
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.

I am very sure the president does not understand the rudiments and dynamics of economics hence his insistence on not devaluing the Naira.

But events in the coming months will point him to the path of economic wisdom.

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by afonjay: 12:16pm On Feb 21, 2016
A plate of amala is still #150 what concernme abt forign Rice while NUPE n ABAKALIKI rice available everywhere even casava bread is as sweet as oyin agoyin[b][/b]
Re: I Won’t Devalue Naira, Buhari Insists by afonjay: 12:18pm On Feb 21, 2016
Casava bread

Re: I Won’t Devalue Naira, Buhari Insists by Nobody: 12:19pm On Feb 21, 2016
RichYoungNigger:


No.
Only imported goods will be affected by inflation
when there is inflation, too much money chases fewer goods because the currency has no value, if ur a fixed income earner u will realize dat the things u probably spend 50k on and ur comfortable, during inflation u will spend dat 50k and nt get the satisfaction u whr deriving b4 is as simple as dis.
Re: I Won’t Devalue Naira, Buhari Insists by rmx1: 12:21pm On Feb 21, 2016
@godoluwa

Not correct, most of the wheat used in bread is imported mainly from the USA, also yeast,softners etc and sugar are all imported

I tell u a secret, Prices of bread products will rise again in the not too distant future as your major importers of wheat and sugar like Nigerian flour mills,honeywell bua, and dangote find it more difficult to get Forex for there operations , as it is now ,sugar scarcity has just began, stock up for those in the business..my two cents
Re: I Won’t Devalue Naira, Buhari Insists by afonjay: 12:21pm On Feb 21, 2016
afonjay:
A plate of amala is still #150 what concernme abt forign Rice while NUPE n ABAKALIKI rice available everywhere even casava bread is as sweet as oyin agoyin[b][/b]

Re: I Won’t Devalue Naira, Buhari Insists by Nobody: 12:29pm On Feb 21, 2016
alt3r3g0:


The light that a Phd holder and minister of finance with plenty foreign experience did not see in six years of plenty?
at the phd holder regime it wasn't as bad as dis so pls! Stop blaming him and d free fall of the naira has nothing to do wit Jonathan, our change maker promised to fixe a lot of wrongs and dat was why some gullible ppl voted him in bt at dis junction whr we ar he has no Agenda and solutions to the present economic problem

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by godoluwa(m): 12:29pm On Feb 21, 2016
rmx1:
@godoluwa

Not correct, most of the wheat used in bread is imported mainly from the USA, also yeast,softners etc and sugar are all imported

I tell u a secret, Prices of bread products will rise again in the not too distant future as your major importers of wheat and sugar like Nigerian flour mills,honeywell bua, and dangote find it more difficult to get Forex for there operations , as it is now ,sugar scarcity has just began, stock up for those in the business..my two cents
lol, you seems not to get me right. I was trying to let people that dont have enough knowledge about the situation of things knows the reality. they all said that the policy is good but they dont understand that flour(raw material) used to make bread requires forex, whereas bread is consumed mostly by common men on the street e.g motorcyclist, artisans etc. thanks for opening peoples eyes
Re: I Won’t Devalue Naira, Buhari Insists by makoty: 12:29pm On Feb 21, 2016
chai!!!
Re: I Won’t Devalue Naira, Buhari Insists by p1jiobi: 12:52pm On Feb 21, 2016
buhari u are an idiooot. Can't u see the naira is already devalued whether or not u devalue it.
Re: I Won’t Devalue Naira, Buhari Insists by alt3r3g0: 12:59pm On Feb 21, 2016
herbie27:
at the phd holder regime it wasn't as bad as dis so pls! Stop blaming him and d free fall of the naira has nothing to do wit Jonathan, our change maker promised to fixe a lot of wrongs and dat was why some gullible ppl voted him in bt at dis junction whr we ar he has no Agenda and solutions to the present economic problem

Have you heard of the word foresight before? You dont wait for things to go wrong before you start planing. So you can understand...you dont wait until you lose your job before you start planing for retirement.

As it stands now. Not devaluing the naira at the moment is the best temp solution. Remember the naira was devalued twice before they handed over and what did it change?

As PMB has stated, Security, economy and corruption are the main focus, and that to me is a plan.

Some refineries had started working and this was reducing what we were importing and thus, helping the economy before niger delta miscreants blew up the pipelines. Who suffers from this? Its still Nigerians and the Nigerian economy.

The funds that we realised throught the time of plenty that were diverted to peoples pockets that could have been further used to defend the naira and grow other parts of the economy. They try to recover, we all join and shout witch hunt. What now stops the next person from diverting the next funds that should be used to help the economy?

We need to call a spade a spade here.

2 Likes

Re: I Won’t Devalue Naira, Buhari Insists by babyfaceafrica: 1:00pm On Feb 21, 2016
Gombs:


E pain am... grin


*jokes apart, I can feed you comfortably
feed your family members first!!!!....even my dog can feed you
Re: I Won’t Devalue Naira, Buhari Insists by HiddenShadow: 1:15pm On Feb 21, 2016
Sibrah:
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.

Though I believe Buhari is a failure, I agree with his refusal to devalue if only he takes the bull by the horn by enshrining true federalism
With true federalism, Nigeria will export diverse products which will increase the inflow of dollars
Re: I Won’t Devalue Naira, Buhari Insists by Pesuzok(m): 1:26pm On Feb 21, 2016
People think that devaluation will mean stronger naira, it doesn't change the forex the country is currently earning, and it won't change CBN restrictions, rather it will make the parallel market price for dollar go up coupled with inflation, we will still come back here and shout pmb is a dullard. We have had renowned economist as minister of finance for 5 years and have devalued the currency before, has it made us an exporting country?

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by jattshaf(m): 1:34pm On Feb 21, 2016
To me o but I don't know about others............. Why can't they bring dollor to nigeria let's every body be using dollor for now......

I no dy for all thos talk ooooo
Re: I Won’t Devalue Naira, Buhari Insists by Nicepoker(m): 1:38pm On Feb 21, 2016
RichYoungNigger:
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
exchange that. $25,000 to naira. Get enough cash in naira. Start shopping and see where that money will take u to. Things are damn more expensive bro.

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by Sibrah: 1:53pm On Feb 21, 2016
HiddenShadow:


Though I believe Buhari is a failure, I agree with his refusal to devalue if only he takes the bull by the horn by enshrining true federalism
With true federalism, Nigeria will export diverse products which will increase the inflow of dollars
There is already true federalism in existence, though partially. Osun state and Abia state for example have all the proceeds of state owned business accruing to them.
Re: I Won’t Devalue Naira, Buhari Insists by graciandubuisi(f): 2:00pm On Feb 21, 2016
Jusmudi:



http://www.vanguardngr.com/2016/02/i-wont-devalue-naira-buhari-insists-2/


Which naira? The one that has no value? Abeg she (naira) has devalued herself.

On the other hand, beg uncle Joe for advice on way out.

Advice no be curse. Take it or leave it

2 Likes

Re: I Won’t Devalue Naira, Buhari Insists by grandstar(m): 2:18pm On Feb 21, 2016
DonBobes:
Let dem keep wailing, we will not devalue the Naira!
Gbam!!!

But the naira has crashed instead!
Re: I Won’t Devalue Naira, Buhari Insists by TolaniLuv: 2:21pm On Feb 21, 2016
RichYoungNigger:
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


Your selfishness will never make you a successful person

2 Likes

Re: I Won’t Devalue Naira, Buhari Insists by grandstar(m): 2:24pm On Feb 21, 2016
Aufbauh:
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.


India with its huge population tried Import substitution and followed the path of self sufficiency from 1949 to 1991. It left the country very poor.

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by Nobody: 2:26pm On Feb 21, 2016
Iroh88:
Abi oo!! They are just trying to force Baba to pull the trigger while the barrell of the gun is pointed at his head, feigning genuine patriotism.

I think this should settle it. If no one likes this position Baba has taken, they should approach the supreme court- at least they have judges sympathetic to them there. cheesy

Baba says his three major objectives are:

1. Securing the country.

2. Reviving the economy.

3. Stamping out corruption.

I love this man! smiley

If he can do just that, I will be happy with him and vote for APC in 2019... unlike some people wih 7 point and 12 point agenda

1 Like

Re: I Won’t Devalue Naira, Buhari Insists by Nobody: 2:39pm On Feb 21, 2016
At the end of the day it's a win for politicians. The PDP now have what to campaign with come 2019. undecided

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