On a serious note, it will be helpful if Mr. President should stop or reduce his travels here and there. How do these 'frequent flyer' travels help Nigeria especially now? Is it an avoidance of reality or will ignoring the country's issues by been absent make them go away? We must be real here, or maybe Mr. President is on a mission to go down in history as the most travelled president within 8-9 months of all time. To what end though? Moreso with a country experiencing a seriously failing economy. Sir, must you travel this much? Why, i read and hear the people ask? How does it benefit the masses? If it doesn't, then for all intent and purpose is practically wasteful spending and undesirable.
The cost of these travels alone is more than enough to build factories, create jobs for unemployed graduates loitering the streets. Presidents of countries with stable economies rarely even travel half as much. So why Mr. President why? As a father to a son, I personally respect you much, but i must say to you Mr President that no matter reasons and excuses that may be given to support your much travels, in light of the countries issues borders on avoidance and negligence. Mr. President sir, You may be fighting corruption with no convictions to date, and maybe not amassing and storing away monies but the cost of travel and spendings, moreso when not a dire necessity may also be perceived by some as corrupt. So i ask Mr President, what is the opportunity cost to Nigeria if you are more present at home? Will Nigeria quake? For your information sir, at least psychologically, been absent than present is not a moral or confidence booster to the average Nigerian at any time, especially now.

Just for how will these ongoing travels of here today and gone tomorrow go on for? Even a goodwill ambassador to the world may not travel half as much as you.

Mr President sir, i implore you to 'CHANGE' your attitude and disposition concerning your travels.

You have a foreign affairs minister and minstry, etc, make them useful and have them earn their pay sir.

Mr President sir, its not easy to handle issues when at home, and surely more difficult away from home. i bid you, if you are truly serious and i believe you are and concerned about Nigeria and her general welfare, be more present.

I personally do like you and support your vision, dreams and hopes for Nigeria. Lets be seriously more purposeful and truly committed together (Nigeria) and make 'it' work.

I also suggest that it will augur well if you conduct a once a month public briefing address to we the people on the state of the nation. It really will be positive and helpful sir especially in this desperate times. It does not sit well with me when i hear or read negative comments about the Presidency. Most comments which may stem from ignorance which may also be a factor of effective communication gap between the Presidency and we the people.


Thank you, Mr. President.
Blessings and wish you well.

@Fayose, you can not even manage your state very well but here you are talking about devaluation of naira . Nonsense over nonsense is equal to nonsense.. What is your qualification that is giving you the temerity to just talk all the time ? Must you comment on everything, including the one that no know nothing about ? A debate should be set for you on this to showcase your ignorance about the subject matter ....devalue naira ko , devalue kobo ni

I don't know so much about this whole currency ish...but can we say the President is doing the right thing? #SMH

emamos:

http://www.vanguardngr.com/2016/02/fayose-to-buhari-devalue-naira-now-forex-policy-short-changing-nigerians/

I pity ekiti people this type of human being to be their governor face your state rather than attacking president everyday

So this THUG called Fayose, has also become a "seasoned" Economist and Financial Expert?

Wetin we nor go see/hear for this Nigeria sef?

Sombori should tell the Rascal to face front .....

Even members of National Road Transport Union (Up National ) said he should shut-da-phuck-Up!

Yeye dey smell



Lastpage!

Next time, you can use a neutral Yoruba name in this context. E.g Iya Bayo's/Jide's/Pelumi's Canteen. If you read between the lines, I'm sure you won't come after my head....lol. Cheers!

doctokwus:

I think his being ignored is actually the best.
U don't glorify a stupid fellow with a response,less u are deemed mad.
Instead of half baked govs like Fayose to see the golden opportunity that this offers for the ekiti state govt to fully invest in agriculture like that of Anambra and some states in the north are trying to do, earning foreign exchange directly in the process,he is moving from one ponmo shop to another iya sikira canteen waiting for handouts.
He shud continue leading ekiti to ruin while other govs are using valuable time strategizing on a future without oil handouts.

The workers are to be forced to purchase MadeinNigeria goods. Not the imported ones. Lol

blazer234:


Use your head to reason Mr. And stop being blinded by political affiliation. It is the soul of Nigeria we are talking about here. The wide difference between official rate and black market rate does not spare people of certain political party; everyone is affected.

Fayose said something that every Nigerian with useful brain will think deeply about.: workers are paid at the rate of 199 per dollar, but they have to pay for goods at the rate of 400 per dollar.

Is that too complex for you to understand?

Fayose may have his faults, but every Nigerian with sense will agree he is making a good point this time.

Snipes009:
Next time, you can use a neutral Yoruba name in this context. E.g Iya Bayo's/Jide's/Pelumi's Canteen. If you read between the lines, I'm sure you won't come after my head....lol. Cheers!

My apologies.Was the first name that came to my head.
Iya sikiras are actually good,hardworking people.

massinola:
If with corruption $1 was equal to #216 and now without corruption $1 is equal to #400, wouldn't it have been better we stood with corruption?

You know nothing about the economy
Just keep reading comment and learn

South african Rand lost 45% of its value and no one complained, atleast their currency is floating currency, it finds its place on its own which NIGERIA is scared to do. You can never run a jagajaga economy. Even if you try to manipulate the system, someone will be hurt either way. By devaluing or letting your currency to float, is to enable your currency to be properly in line with other foreign currencies. By trying to manipulate it, you end up running an artificial economy. we live in a global world, no one lives in an island anymore.

Case in point, China, Venezuela, Zambia. In venezuela the capped value is at 200 to the dollar. but at parrallel market is at 800 to $1. Its a disaster, food shortages, everything has collapsed. Nigeria is heading there, watch the space.

Tough times are still ahead

henryhemon:


Like I said nothing good comes from people like you.

I have seen you and your slave master that something good comes from.

The condition of Nigeria today under your slave masters leadership is a testament to the type of good that comes from people like you.

I want no part in this type of good that I exchange 380 to $1 and 500 to a pound.

Ewus. . I dont blame you guys because your brain has been reseted by aisahas jollof rice. I just pray you and your type wake up before it's too late.

massinola:
If with corruption $1 was equal to #216 and now without corruption $1 is equal to #400, wouldn't it have been better we stood with corruption?

It is obivious u know but little. U talked like somebody that has never been to primary school.

I recently bought provisions I usually buy for double the price...so I think I might be in support of fayose at this point...We are just deceiving our selves...its time we come to terms with reality and diversify our economy....Buhari should devalue the naira and work hard to encourage in house manufacturing and production to support the naira...We can't go on like this...

D u think is Oga jona .Dean of musu

Snipes009:
The workers are to be forced to purchase MadeinNigeria goods. Not the imported ones. Lol

You are very funny, aren't you?

Do you make toothpick in Nigeria?

Do you make lamps in Nigeria?

Do you grow polished rice in Nigeria?

Do you make roofing sheets in Nigeria?

How many of Nigerian made shirts are available on the market and how many of them are of good quality?

The leather used in making shoes, how much of the leather is made in Nigeria?

Do you make matchstick in nigeria?

Do yuou make transistor radios or batteries in Nigeria?

Do you make electric bulbs in Nigeria?

Do you make steel for manufacturing in Nigeria?

So, when will Nigerians not have to import?

Pesuzok:


I thought you used your head, a civil servant that is paid 50k naira per month, how much would he be paid after devaluation?

I doubt if your head is correct. The civil servant that was paid 50k before naira fell have his spending power reduced now that naira has fallen. If you have any useful brain, you will know that the things we buy out there are not sold at the rate of 199 per dollar; they are sold at the rate of 400 per dollar. So either u like it or not, naira has been devaluated by the outrageous gap btw blackmarket and CBN rates.

Sanchase:
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 .

I feel u guy, I just don't support this devaluation of a thing. It will cause a rapid inflation and reduce the purchasing power of d common people on the street. No to devaluation.

3rdlegxxx:


you stated clearly good points here, but the problem here is. if you lie all the time to friends and people, colleagues and families and then one day you decide to say the truth, almost naturally people won't believe you because of your antecedents same as Fayose always saying sly and selfish things people have come to term his name with nonsense and selfish interest related talk that when he official made a good point and sense a lot would 1st disregard him.

You have a point, but I think it is just right to always focus on the message and not the messenger.

Go and fix Ekiti problems first. clown

Venezuela’s bolivar passed the physiological barrier of 800 bolivars per dollar Tuesday in
black market trading as Venezuelans rushed to protect savings amid rising inflation. That
means that the country’s biggest currency note of 100 bolivars is now worth about 12 U.S.
cents.
The currency has declined 14.7 percent in the past month to 816 bolivars per dollar, according
to dolartoday.com, a website that tracks trading in street markets where Venezuelans go to
skirt limits on foreign-exchange purchases. The government maintains official rates of 6.3,
13.5 and about 200 bolivars per dollar for authorized purchases of items deemed essential.
Venezuela’s inflation, estimated by some to be nearing 200 percent, is the fastest in the world
as President Nicolas Maduro’s administration prints more currency to pay budget expenses as
the falling price of oil reduces foreign currency income. The amount of bolivars in circulation
passed 3 trillion for the first time on Sept. 19, up 97 percent in the past year, according to data
compiled by Bloomberg.

http://www.bloomberg.com/news/articles/2015-09-29/venezuela-s-bolivar-falls-past-800-per-dollar-on-black-market

GudluckIBB:
What does Fayose a fake HND holder knows?

Ali Mordu Sheriff's Emergence is bringing down PDP and he's asking Buhari who doesn't even knows he exist to devalue Naira!

Its a pity!

How much does your Kunu drinking President spend on each foreign trip, who are members of his economic team?

Bevista:
Benefits of Devaluation:
(1) More revenue for all tiers of government.
(2) Convergence of official and parallel market rates.
(3) From 2 above, reduced roundtripping of dollars by rent-seeking economic agents.
(4) Attraction of foreign portfolio investors.

Disadvantages of Devaluation:
(1) Increase in pump price of Petroleum products or increase in subsidy.
(2) Rise in cost of importing critical raw materials and agricultural machinery/equipment
(3) From 1 & 2 above, rise in headline inflation, leading to reduced purchasing power and increased poverty.
(4) From 3 above, industrial action by organized labour demanding wage increase to counterbalance the effect of devaluation & inflation
(5) From 1 & 2 above, Nigeria continues to depend on imports as high cost of doing business makes us less competitive with imports. Job losses!
(6) The Market Cap & ASI of the Nigerian Stock Exchange gets devalued in dollar terms - scaring away foreign portfolio investors.
(7) Devaluation or not, CBN is not likely to re-enlist the 41 delisted items. So how does devaluation benefit importers?
(8.) Devaluation will not increase the amount of dollars in circulation or in the Reserves, hence Naira is still likely to continue depreciating even after devaluation.
---
Fayose is, obviously, speaking from a position of self interest, since devaluation will increase his allocation by over 50%. However, the FG and CBN have larger macroeconomic issues to worry about than just higher revenue to states.

I have been a proponent of devaluation in the past, primarily because I thought the high exchange rate will rein in our demand for foreign goods and incentivize local manufacturing/production. However, events of the last few months where Nigerians continue to demand for dollars at over N350 has now convinced me to change my views on the subject. Now, #IStandWithBuhari on the issue. The disadvantages of devaluation far outweigh its benefits.

We need to curb our appetite (demand) for foreign goods, that is the first patriotic duty of every Nigerian to save the Naira!

Excellent contribution!

The disadvantages of devaluation obviously outweighs the advantages.

Global economic prosperity is mutually exclusive, because global resources are scarce and are being competed for by every nation, so until the end of time there would always be prosperous countries at the detriment of the poor ones, every nation can never be prosperous! So we should stop listening to our competitors and their agents like IMF,for advice!

If Africa(Nigeria) or Asia(China) is prosperous,it would be to the detriment of America(US) or Europe(Britain).How?

E.g. if Nigeria now start producing goods that were hitherto imported from China,US Britain,it would definitely be to the detriment of those other countries, which exports would have fallen, to the tune of our own self sufficiency.

There are some goods and services that are inelastic to the law of demand and supply and value of forex exchange, so whether you devalue your currency or not, the demand for such items remain relatively constant. For Nigeria, such items include Petrol, industrial raw materials, machinery and other items not available locally.etc.

Devaluing the Naira would make these items more expensive, and the spiral effects could be catastrophic! So the general notion that devaluation makes your export cheaper is only applicable to products that were already being produced and exported BEFORE devaluation!

Nigeria,a majorly importing country. is yet to recover from the devaluation of the IBB era.

But the problem with some so called economists, is that they apply textbook theory to all scenarios, irrespective of the applicability and practicality.

When will Fayose learn to understand that Ekiti as a state has enough problem that calls for His attention and just leave PMB alone after all all that PMB is struggling to solve today was created by people like you who are deceptive and too economical with the truth. You can fool Ekitians not Nigerians ok ?

Not trying to be funny, but since our brains are not imported, at least we can start developing the nation by producing as little as we can. Why can't we make toothpick in Nigeria? Lamps? Matchsticks? There's no rocket science to all these small stuffs. But well, here we are....

blazer234:


You are very funny, aren't you?

Do you make toothpick in Nigeria?

Do you make lamps in Nigeria?

Do you grow polished rice in Nigeria?

Do you make roofing sheets in Nigeria?

How many of Nigerian made shirts are available on the market and how many of them are of good quality?

The leather used in making shoes, how much of the leather is made in Nigeria?

Do you make matchstick in nigeria?

Do yuou make transistor radios or batteries in Nigeria?

Do you make electric bulbs in Nigeria?

Do you make steel for manufacturing in Nigeria?

So, when will Nigerians not have to import?

Bevista:
Benefits of Devaluation:
(1) More revenue for all tiers of government.
(2) Convergence of official and parallel market rates.
(3) From 2 above, reduced roundtripping of dollars by rent-seeking economic agents.
(4) Attraction of foreign portfolio investors.

Disadvantages of Devaluation:
(1) Increase in pump price of Petroleum products or increase in subsidy.
(2) Rise in cost of importing critical raw materials and agricultural machinery/equipment
(3) From 1 & 2 above, rise in headline inflation, leading to reduced purchasing power and increased poverty.
(4) From 3 above, industrial action by organized labour demanding wage increase to counterbalance the effect of devaluation & inflation
(5) From 1 & 2 above, Nigeria continues to depend on imports as high cost of doing business makes us less competitive with imports. Job losses!
(6) The Market Cap & ASI of the Nigerian Stock Exchange gets devalued in dollar terms - scaring away foreign portfolio investors.
(7) Devaluation or not, CBN is not likely to re-enlist the 41 delisted items. So how does devaluation benefit importers?
(8.) Devaluation will not increase the amount of dollars in circulation or in the Reserves, hence Naira is still likely to continue depreciating even after devaluation.
---
Fayose is, obviously, speaking from a position of self interest, since devaluation will increase his allocation by over 50%. However, the FG and CBN have larger macroeconomic issues to worry about than just higher revenue to states.

I have been a proponent of devaluation in the past, primarily because I thought the high exchange rate will rein in our demand for foreign goods and incentivize local manufacturing/production. However, events of the last few months where Nigerians continue to demand for dollars at over N350 has now convinced me to change my views on the subject. Now, #IStandWithBuhari on the issue. The disadvantages of devaluation far outweigh its benefits.

We need to curb our appetite (demand) for foreign goods, that is the first patriotic duty of every Nigerian to save the Naira!

When i read things like this,it makes me wonder why we are where we are today. The quoted is just so witty, though not everyone will understand (see! They won't see).

This person who made this comment goes also to say he is not bias. He calls a spade a spade. Unfortunately, most of us are blinded.


Well, but what do i know?

This Will For ever and ever Hunt and Hurts APC......

Well fayose has a point there.... But we all know he's a hypocrite

Just like the pharises during Jesus' time

katchagboro:
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

Just listen to yourself, meen, I need to leave this country asap as the number of illitrates are rising per second, no joke!!

So I guess zimbabwe now has the best schools, best hospitals, modern weapons and so on cause their currency is shhhit next to the dollar

dumb murrafvckers, all of you

The market determines the price, not some arbitrary price one dullarpo sets like some false god

Obviously, I'm not too happy about the devaluation, but the spread is way too high.

If we want to fix stuff, let us fix things right and seriously, not by some voodoo economics of setting a fixed price for the currency.

who is buhari to set the price anyway

same way he said he will stabilize the oil market and the illiterates believed him.

I'm telling you sane Nigerians left, the country is being hijacked by illiterates, maybe due to high birth rates.

Every sane Nigerian seriously needs to have this fact in hand for future planning.

Why I am Not Worried! !!!!!

If you bring ousted president Jonathan and President Muhammadu Buhari 10 times today for election, Overwhelming majority will still vote for President? Buhari.

Even if 1 dollar equals 1k, it doesn't take anything off President Buhari support base. Rather the liberated towns in North East are joining more and more.
Why then should I be worried? Never!

If you voted for Buhari because you wanted 1 naira equal one dollar in 8 years, it shows that you are a product of "standing love" affair. Lie down and reason.
Dear noisy one,
Before I asked you not to vote for clueless Jonathan, I gave you Buhari as option. Now that you don't like Buhari, what is your option?
Common kpomo sense will teach you that you must bring alternative before you discard what you have as I did to Jonathan.

Which party is gearing up? New Boko-haram PDP? Or PDP SM TINK TANK that cannot even trust themselves?

Is Ali Modu Sheriff your alternative?

If the noise of miserable bingo's parading as opposition on social media cannot stop enthronement of alleged Boko-haram founder as Chairman of PDP, what makes you think that PDP will not field Shakau as their presidential candidate in 2019?

Ok.Kontinu!

Gathering in WhatsApp group, blackmailing, and developing comic hashtag is not opposition.

It is inferiority complex and political depression.
Get life and stop discussing what to do to Okokobioko! !!! Okokobioko is not yet your president.

Go and get alternative before Nigerians will listen to you and take you serious.
Meanwhile, President Buhari will be visiting Saudi Arabia and Qatar from Tomorrow to continue discussion on volatility of crude oil price.

‪#‎FlyWithBuhari‬ or
‪#‎GoAndKpeme‬.

Chanjiiiiiii is here
Embrace it!
Diaritz god. Dazzol

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Okeke

GudluckIBB:
What does Fayose a fake HND holder knows?

Ali Mordu Sheriff's Emergence is bringing down PDP and he's asking Buhari who doesn't even knows he exist to devalue Naira!

Its a pity!

words of an ignorant man... it's a pity.

Fasyosenomics

Poor Buhari, even Fayose has now come to see himself as an expert at managing the economy. I guess I would soon become one. Anyway, I say no to devaluation