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Nairaland Forum / Nairaland / General / Politics / Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians (30420 Views)
"Nigerians Did Not Elect You As A Friday President" - Fayose To Buhari / I Won’t Devalue Naira, Buhari Insists (2) (3) (4)
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Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by erico2k2(m): 8:33pm On Feb 21, 2016 |
Sanchase:yes there are shyt loads you can sell in Nigeria.There are raw materials Nigeria needs.Want me to name them? |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by Pesuzok(m): 8:34pm On Feb 21, 2016 |
blazer234: I thought you used your head, a civil servant that is paid 50k naira per month, how much would he be paid after devaluation? 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by erico2k2(m): 8:36pm On Feb 21, 2016 |
Pesuzok:You guys are too lazy to think out of the box, his salary will remain same 50K but its value will increase due to devaluation.Simple economics for A level students not O level |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by linearity: 8:37pm On Feb 21, 2016 |
dunkem21: It is surprising how many people clicked like here, not knowing that Naira is already devalued. For the common man, most importers and most middle income earners, they can only access Naira exchange through the black market at the devalued rate. However, the rich and highly connected have access to Naira at the official rate of $199.00, these should been the people opposed to Naira devaluation because it will stop their abilities to profit from the dual exchange rate on its track. Devaluing Naira levels the playing field for everyone and I dare say to even 100% of all those who have clicked liked. Also devaluing Naira will reduce the current hyper demand for dollar, thereby increasing the value of Naira...This is because, there will be no more incentive for the rich and highly connected to keep demanding for dollars at the official rate only to turn around and sell it the next second at the black market rate. The above will also save the government lots of revenue for the mere fact that the rate at which the government request for Forex to keep up with demands will reduce after eliminating/reducing round-trippers demands. The need to artificially hold on to dollar in the hope of it raising against the Naira will also reduce. The fact is, whether we like it or not, Naira is already devalued..the current gap between the official rate and black marker rate is not sustainable, very soon something will have to give. 3 Likes |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by Sanchase: 8:39pm On Feb 21, 2016 |
Nigerians shouting "Devalue devalue devalue Naira". All those people shouting devalue have stacked up foreign currency, infact anybody that shouts devalue again will have their property and accounts investigated by the EFCC . |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by eleko1: 8:39pm On Feb 21, 2016 |
. dotcomnamename:I dey pity gov PITA FAYOSE.Make we dey watch who go cry last 3 Likes |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by drss(m): 8:40pm On Feb 21, 2016 |
massinola:GEJ era beta pass. dia is massive corruption going on in dis dollar scarcity created by buari dullard. 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by Nobody: 8:40pm On Feb 21, 2016 |
erico2k2:we should pressurize the cbn to make forex available easily through the official window and not screaming at the exchange rate increase which is not official |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by grandstar(m): 8:41pm On Feb 21, 2016 |
GudluckIBB: Buhari is finished. Pure water is now 100 naira a bag. The complaints are getting too much. I am apolitical but I admired his immense integrity. His baseless economic policies are ruining the country 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by Sibrah: 8:45pm On Feb 21, 2016 |
otitokoroleti:anyone you see selling to banks at rate pls direct to me i can offer him more. Thanks. 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by emenas(m): 8:47pm On Feb 21, 2016 |
erico2k2:lucky 4 u....but some earn in cefa |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by grandstar(m): 8:47pm On Feb 21, 2016 |
dunkem21: Question: If you like 1+1= 2, click like. If you don't want 1+1=2, click share. Is the issue whether you like it or to simply accept it? Be pragmatic, do they even have a choice to like it or not? |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by adewasco19(m): 8:49pm On Feb 21, 2016 |
Buhari is our own '' MOYES" 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by Smooyis(m): 8:54pm On Feb 21, 2016 |
There is a lot of sense in what my governor is saying. Devaluation is not all that bad. PMB and most Nigerians are just stiff scared about it . Am not an economist, but I know that we are just deceiving ourselves pretending all is well by not devaluing. In the long run we will all suffer for it. 2 Likes |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by Sanchase: 8:56pm On Feb 21, 2016 |
Haha, bro so your problem is the price of bag of pure water lol. grandstar: |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by afonjay: 8:57pm On Feb 21, 2016 |
Ogogoro governor he nEeds more money to cut onmo as ussual |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by orakao8: 9:02pm On Feb 21, 2016 |
KEEP DREAMING joborskill: 2 Likes |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by macherie1: 9:03pm On Feb 21, 2016 |
Last I checked, Mr. Fayose is not an economist so I'm guessing this is the Idea of his economic advisers who should tender an apology to the Governor. Devaluing the Naira means the manufacturing industries and importers of petroleum products will now buy dollars at a higher Naira rate which will lead to a ripple effect causing commodity prices to rise dramatically. The result will be worse than the economic crisis the country is presently experiencing. Devaluation of the Naira will also not lead to appreciation of Naira in the parallel market since CBN no longer advances foreign exchange to bureau de change. Although the situation is difficult for medium scale traders involved in import related businesses, devaluation of Naira is not the solution. The present Buhari regime is concentrating the scarce foreign exchange on essential industries in the country thereby leaving other businesses with little or no choice but to trade locally to boost industrialization. 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by SalesConsultant(m): 9:06pm On Feb 21, 2016 |
otitokoroleti: Leave those theoritical economists to be fooling themselves.... Banks are busy duping Nigerians 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by Pesuzok(m): 9:10pm On Feb 21, 2016 |
erico2k2: So how would the value of the salary increase when you have devalued the currency. Please answer in A level, I know I am lazy but not all nairalanders 5 Likes |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by otitokoroleti: 9:12pm On Feb 21, 2016 |
Sibrah:you mean you have your own bank? dont you know that the payment will be forward to your bank directly? have you received any payment from foreign merchant? if yes, you need to understand my post. |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by henryhemon(m): 9:12pm On Feb 21, 2016 |
massinola: Copy cat,you morals are dead. 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by Reptyle(m): 9:13pm On Feb 21, 2016 |
coolsix: So for the benefit of "those of you that deal in dollars" the rest of the country should go to shit? Like Fayose rightly pointed out, the parallel market has been devalued. Source for your dollars there. |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by reyscrub(m): 9:15pm On Feb 21, 2016 |
massinola: By supporting corruption for no useful reason, I believe dat u are a waste citizen. I am afraid if you will benefit from the goodness of this country after it has been clean from dirt father of yours. |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by ihatesycophant(m): 9:15pm On Feb 21, 2016 |
Why Fayose is looking for FG to devalue naira for the purpose of enriching himself see what the world has to say about Ekiti "Ekiti still leads in open defecation in Nigeria, stakeholders lament". A man that cannot find solution to what happen in his backyard wish to solve problem faraway from him. |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by henryhemon(m): 9:17pm On Feb 21, 2016 |
gboss4sure: Your likes nothing good comes from them. 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by henryhemon(m): 9:20pm On Feb 21, 2016 |
gboss4sure: Like I said nothing good comes from people like you. |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by henryhemon(m): 9:29pm On Feb 21, 2016 |
Tolux17: Ayam telling you. That's why it's good to have a leader not a clown 2 Likes |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by ihatesycophant(m): 9:31pm On Feb 21, 2016 |
grandstar:Why dabbling into what you don't know? What concern bag of sachet water with dollar? This is a locally made good and dollar doesn't affect it. If I may ask you, do you import water, nylon or the chlorine for purification of the water? There's nothing concern locally made goods with dollar. The problem will have in Nigeria is because there is no 'Price Control Macenery' every producers and sellers just do whatever they want and put the people under strain. But I don't know if the exchange bill of Nigeria is now dollar? I'm so surprise, what concern egg, yam, garri, pepper, tomato, semovita, water etc with dollar? This is unthinkable. 3 Likes |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by SirShymexx: 9:42pm On Feb 21, 2016 |
Lool. Even the illiterate stomach infrastructure bandit also has an opinion about economics. Hysterical. I honestly don't think a lot of the proponents of devaluation understand how messed up naij's economy is. Ditto the fact that the reserves are depleted, and there's nothing to peg it to. Perhaps they're either all looking for ways to give the looted funds they have to grow wings, or due to selfish interests cos the black market rates doesn't favour whatever they have going on outside naij. Once you devalue it, and it keeps falling - then what? What about the inflation that will arise after devaluation, any solution on how to fix that? 1 Like |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by katchagboro(m): 9:43pm On Feb 21, 2016 |
With dollars becoming very expensive like diamond, medical tourism will reduce, crave for foreign studies will drastically reduce and we may be forced to look inward to strengthen our institutions, frequent trips to Dubai will reduce, our market women will grow in fortunes as things like Brazilian hair will disappear and our local hair braids will take the center stage. Abeg add your own as we move to stop subsidizing the few rich at the expense of the plenty poor. Yeye Fayose 2 Likes |
Re: Fayose To Buhari: Devalue Naira Now, Forex Policy Short-changing Nigerians by hyperflex(m): 9:46pm On Feb 21, 2016 |
I guess everyone with Buhari on this economic downturn has kept their jobs till now or have jobs else u all won't be so eager to side with Buhari. Its just messed up guys what r we arguing ourselves for when the president is just traveling up n down. He avoided debate so we don't even know his capabilities...yet we voted him. Be wise and talk less shit |
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