Domnick:
Village man spotted

He's right. You can have high GDP, but use it uselessly. That has been our problem.


I'd take a lower GDP with efficient usage anyday.

These Bloomberg people have never for once said anything good about Nigeria. They keep writing silly articles everyday as if their life depends on Nigeria devaluing its currency. They can go to hell!

nkowaputa:
I pity this country. I clamored during the election period that no serious organization that wants to move forward will use an old man 72 as her manager yet u people said Sai Buhari.
How many serious organizations have u seen technically headed by an Hausa apart from Nigeria institutions where they flood by quota system?
73 year old Hausa man who all through his life despite been in government could only boast of 150 cows and 900k, u put him in power and expect things to be good.
We are in it together.

you must be one of the classical morooons who think that a PhD holder that goes to the central bank to pick forex and SPEND LOCALLY is a hero! please sentiment apart I want you to know that your tribe is the most thoughtless animal God created after male and female goat

LastProphet:


you must be one of the classical morooons who think that a PhD holder that goes to the central bank to pick forex and SPEND LOCALLY is a hero! please sentiment apart I want you to know that your tribe is the most thoughtless animal God created after male and female goat

Isn't it obvious you are from the same region? You just proved my point otherwise, you would have countered me with facts and figures.
Only in Nigeria institutions Hausa full everywhere. Not by merit
How many times have u heard a Nigerian performed excellently abroad and it happens to be a northerner?
The only would be was the guy to blow a plane which he eventually still failed. Thanks be to God.
Hausa is the reason Nigeria is very sick and backward. Yet this old man was given Nigeria.

All these Western Media Houses sha... They are hell bent on spearheading devaluation Campaign..Only God knows what they tend to gain from all these articles..

nkowaputa:


Isn't it obvious you are from the same region? You just proved my point otherwise, you would have countered me with facts and figures.
Only in Nigeria institutions Hausa full everywhere. Not by merit
How many times have u heard a Nigerian performed excellently abroad and it happens to be a northerner?
The only would be was the guy to blow a plane which he eventually still failed. Thanks be to God.
Hausa is the reason Nigeria is very sick and backward. Yet this old man was given Nigeria.

if you had put your blinding hatred aside you would have seen that buhari has dealt more with hausas than any other tribe, ask BDC operators, ask Shiites, ask Abuja Hausa bigboy land speculators, come to Abuja and say sai buhari among hausas now? he has disappointed them big time. I would never never have voted for any other Hausa except buhari or maybe elrufai because they are tribeless and no nonsense. see my guy let me tell you today that few people hate Islamic terrorism like me which would have biased me against Hausa naturally, but I know who buhari is and nothing he has done so far surprises me. the only thing I pity him is that he came too late after Jonathan had allowed all the thieves to break the bank

AK481:
[size=25pt]APC!!!!![/size]



























[size=25pt]CHANGE!!!!![/size]

I am sure you meant

APC




CHAIN!!!!

jameseva:
Despite my support for PMB waning over the past few weeks owning to his abysmal silence on the grievous criminal and life-taking offences of the fulanis as well as several issues highlighted in his recent al-jazeera interview, I will however say F#CK this report! Nigeria is probably doing something right that is detrimental to their economy, projections or positions is why they'd write stuffs like this in the name of 'report'!! Know how the western media works and just take this as a pinch of salt!!

You restored my faith in my fellow countrymen, because many are clueless, they have no idea that for every credit there must be a corresponding debit,

well...
It's pointless being disappointed in nigerians. Shey they say to fool a black man, put it in a book.
All you guys had to do was google the information given in the article-
Did those companies actually sell off our bonds? Did an expert project growth for later in the year? Is it a secret that the lack of a budget is adding more hurt to our economy?
But instead of doing our due diligence, we accuse bloomberg of working to devalue our naira, abi?
If you're still giving yourself a bit of consolation, here's the hard, harsh truth-
Much, much worse is coming and there's nothing buhari can do to stop it. The very narrow window he had to act is long gone.
It's almost time for the consequent ripples of his indolence to berth at our shores.
The arid desert approaches.
And the fires will rage...

persius555:
They want us to devalue the naira so as to make manufacturing costlier, thereby killing the local industry. Subsequently, they will take over our economy and dictate our policies. Angola yielded to the advice of IMF and today their economy is struggling to recover even as oil prices have dipped. If the CBN finally devalues and we remove import restrictions, its only a matter of time for coke to be sold for 200 naira.

I think you have got this completely the wrong way round. By devaluing, it makes our manufacturing CHEAPER, not more expensive. It means it becomes cheaper for export our goods overseas, as a Dollar buys more Naira. The reason things will become more expensive in the short term is because we import absolutely everything, so it will cost us much more. However, in the medium to long term, it will actually help our economy dramatically, as exports will increase.

Finally, your point about Angola and their Oil revenues is nonsense. Oil is sold in USD, therefore, devaluing their currency actually means that the oil revenues they receive has far more buying power than before.

Emekamex:

“We see some scope for faster growth, forecasting the economy to expand by 3.8% this year,” David Faulkner, an economist at HSBC Holdings Plc in Johannesburg, said in a note to clients. “However, much will depend on Nigeria’s exchange rate policy, with the current foreign exchange and import restrictions -- imposed to stabilize the naira -- having a detrimental effect on economic activity and growth.”
Lower oil output and prices contributed to the industry contracting 8.28 percent in the fourth quarter compared with expansion of 1.1 percent in the third quarter, the statistics office said. Growth in the non-oil industry, which accounts for 90 percent of GDP, was little changed at 3.1 percent.

While any man on the street can easily present a thesis on the effect of the 'new' oil industry situation on the Nigerian economy, which really is the main reason behind are current predicament, where exactly do the foreign media get these statistics from? 'The statistics office'? What Statistics office?? The report might have as well said the fat guy down pub thinks so.

My experiences in dealing with these guys has made me aware of the latent dangers in taking such claims with more than the proverbial pinch of salt.