Goke7:


Honestly am not too scared, what scares me is how divided Nigerians are in terms of religion and ethnicity, this is what the west can take advantage of to wreck us. But if we can just forget about last year elections and stand with PMB, the west won't succeed.

The greatest beneficiaries of the China deal are presently from the region that antagonises the present govt the most. They need to get wiser now, the yuan deal is in their favour

Dont even worry about that one. We are divided but when it comes to the west, they are a common enemy to all africans. We do not want them here. Even if we fight to death. We will fight on our own.

NaijaTalkTown:
Hahahahahaha you sure are an illiterate. What did the President went to do in China? Will Nigeria benefit from the trip or not? If you think I would engage you in a blind argument then you are deceiving your self. I am too intelligent to engage you in a "Fayose-themed argument". Bring facts and reason and present a logical argument or you can go to the " Fayose-themed" threads on this forum and find your mates to engage in a baseless argument.

There is no need arguing with you? Buhari said he won't devalue the currency yet it crashed to 320! Is that not worse?

The IMF is simply telling you the obvious. Water will always find its level. By not devaluing , the currency crashed

Has the trip to China led to an improvement in thwe value of the currency. Even China devlued its currency recently.

The president is just chasing the wind. As long as he refuses to devalue, the economy will keep suffering.

The IMF is simply telling the country the truth.

Your dollar income has crashed by 70% and you still want your exchange rate to remain the same? Its not possible.

Sanusi, Soludo and Utomi have all condemned his policies. Sanusi even said they have worked nowhere in the world!

Buhari means well but unfortunately,his econmic s however is lamentable

repogirl:



Pikin wey dey do gra gra sey im no go greet him elder... Dem go flog am mercilessly and then im go still waka go greet that im elder.

A word is enough. Boooooohari take note.

Pls get on the bed... Your time is up!

Goke7:


Honestly am not too scared, what scares me is how divided Nigerians are in terms of religion and ethnicity, this is what the west can take advantage of to wreck us. But if we can just forget about last year elections and stand with PMB, the west won't succeed.

The greatest beneficiaries of the China deal are presently from the region that antagonises the present govt the most. They need to get wiser now, the yuan deal is in their favour

I'm seeing very intelligent contributions on this thread. Glad we still have smart people on the forum.

NaijaTalkTown:
Your concerns have been noted. However, I would like to inform you that Nigeria has the raw materials it needs to diversify its economy. What it does not have is the infrastructure and political will to do so. Which is why Buhari is taking an aggressive approach towards developing the Infrastructure hence, his deal with the Chinese is mainly based on infrastructural development. We can source money from the Chinese too buy encouraging them to invest in our country directly (which is better than what our Western partners are offering us). The deal with China is a win-win for both countries. Devaluation of the Naira is a win for the West and a loss for Nigeria so Nigerians are supporting the Chinese option because Nigerians are not losers.

well...you have good points.

Nigeria's problem has always been proper implementation.

On paper, your ideas sound good but in reality, I'm skeptic. I hope Buhari is able to work on the infrastructure needed to move the economy forward.

gudluckgreat:



Pls get on the bed... Your time is up!

Cray.

...

omenka:
Can't say you aren't right. The only problem is our seemingly intractable ethnoreligious divisions and acrimony- what our domestic politicians exploit to get what they want, what US and her allies who want to see us buckle would leverage on to screw us up.

If only we can mend our fences, build lasting bridges, accept and embrace our differences, there is absolutely no height we can't attain as a people. Our enemies are frightful of this prospect, therefore, would do WHATSOEVER it takes to ensure we never bridge that gap.

Good examples of such African leaders you talk about are Mugabe and Gadaffi (whom they ganged up to kill), sadly, Mugabe just isn't backing up his stubbornness with sterling economic performance- that country is simply adrift.

We as a people can resolve our differences and present a United front which no politician can exploit. It begins with you and I right from this forum.

If today the west and her friends decides to turn Nigeria into another Libya or Syria, it is you and I that have everything to lose not politicians that hide their wealth in Panama. Dangerous times ahead for Nigeria if not well handled.

allexy2:
By now, nigerians should have the wise enough to know that IMF is an evil western institutions. What they try to do is to force 3rd world country in to debt they cannot repay so that that they can sell all the national wealth to western companies. Have you wondered why they have privatisation of phcn took place, have u wonder why they are pushing for privatisation of the oil sector and other part of our economy.

You don't need to be an economist to see the obvious. Only a fool would tell me that they can't see the evil work of IMF

ask yourself again, why is she saying this now? That is becos nigeria have now decided to dump the dollars for Chinese yaun. This means, the IMF evil work have fail.they want to put nigeria into serious poverty condition.thank God buhari is wise enough to know this.they are also scare that other African countries will follow as well. This in the long run will completely destruct the western economy.

My point here is that each time a country is about to make a right move to develop herself, IMF have a way of saying that doing it will have grave implications. Take a look at the exchange rate.who is IMF to tell us to devalue our money. There are hidden agenda when IMF give advice to 3rd world countries.

Look at the Western countries economy, why did IMF not go and meet them to to devalue the euro, dollar etc. Even despite that their economy is in complete mess.

my point here is never to listen to IMF.they are there to serve the intrest of western countries

Exactly!! And this is what Walter Rodney says in his books "How Europe underdeveloped Africa". No nation can develop except they control their means of production and capacities for wealth creation. That means Housing, light, food, industries, machinery, water must belong to the state or indeginous private owners. Else the wealth being created is being exported. And there is no development.

herbie27:
Devaluation of any currency has advantages and disadvantages bt with the best brains in an economy devaluation works and that's why is the last resort in dis situation.

Lagarde is good and that's why she occupies that position.

He shld have asked the Chinese government how they handled their currency devaluation wen ever they do so.

Kemi knows nothing, Emefiele is docile while the president is adamant to take advice wen he failed economics.

No strong economic team.

I do not know if u r bigotted, hateful, dumb or simply ignorant

Chubhie:

Going by current realities and Buhari lack of touch with the masses, Nigerians will gladly troop to the streets to overthrow buhari.

No IPOB will troop to the streets to throw him down and Nigerians will put them down. Not even IPOB will stop this Nigerian Progress. The west has come her to supress our progress. Bleep OFF. No one is over throwing Buhari and if any such thing happens bya any such tribes in this country be rest assured Nigerians will make sure that such tribes are dealt with by other such tribes before they can be saved. Nigerians will never forgive them for taking us back to colonial days.

If some tribes are comfortable being slaves go to the west and work in their backyards. Why do u want to take the whole Nigeria with u. Please some of us are proud african people not white or isreali "Wannabes". Go to the west and be slaves there. Not here ok?

enlightenedmind:


No IPOB will troop to the streets to throw him down and Nigerians will put them down. Not even IPOB will stop this Nigerian Progress. The west has come her to supress our progress. Bleep OFF. No one is over throwing Buhari and if any such thing happens bya any such tribes in this country be rest assured Nigerians will make sure that such tribes are dealt with by other such tribes before they can be saved. Nigerians will never forgive them for taking us back to colonial days.

If some tribes are comfortable being slaves go to the west and work in their backyards. Why do u want to take the whole Nigeria with u. Please some of us are proud african people not white or isreali "Wannabes". Go to the west and be slaves there. Not here ok?

You seems to have a thing with IPod yoots. Go and make your peace first.And you honestly think biafra is the only aggrieved people with the kind of hunger in the land?

grandstar:


There is no need arguing with you? Buhari said he won't devalue the currency yet it crashed to 320! Is that not worse?

The IMF is simply telling you the obvious. Water will always find its level. By not devaluing , the currency crashed

Has the trip to China led to an improvement in thwe value of the currency. Even China devlued its currency recently.

The president is just chasing the wind. As long as he refuses to devalue, the economy will keep suffering.

The IMF is simply telling the country the truth.

Your dollar income has crashed by 70% and you still want your exchange rate to remain the same? Its not possible.

Sanusi, Soludo and Utomi have all condemned his policies. Sanusi even said they have worked nowhere in the world!

Buhari means well but unfortunately,his econmic s however is lamentable

Your highlighted comment above is really what it comes down to - a lot of Nigerians desperately want to believe that there is some magic formula that will preserve the country's aggregate spending power despite a collapse in export income, all logic be damned. That's why they resort to conspiracy theories about an imaginary cohesive "West" which has it in for black Africans, as if were even on the minds of rich Westerners at all, other than as a place to be avoided.

enlightenedmind:


Exactly!! And this is what Walter Rodney says in his books "How Europe underdeveloped Africa". No nation can develop except they control their means of production and capacities for wealth creation. That means Housing, light, food, industries, machinery, water must belong to the state or indeginous private owners. Else the wealth being created is being exported. And there is no development.

How Europe underdeveloped Africa is outdated. The revised edition is How Nigerian Elites Looted and Underdeveloped Nigeria. Do I need to mention their names?

enlightenedmind:


I do not know if u r bigotted, hateful, dumb or simply ignorant

Demented Dog!.

musicwriter:


This's my last reply to you, and I'm not really doing it for your sake, but to keep as much people as possible informed on this wonderful forum.

Here's Ms. Lagarde with Genevieve in Nigeria few weeks ago.


Here's Ms. Largarde with Orji Uzo Kalu in Nigeria 2 or 3 weeks ago.


This is just to name a few I can remember immediately. No matter what you do some people just choose to be dumb.

Goodbye.

You are the dumb one here.

Lagarde was in Nigeria months ago and not weeks ago and secondly she can't be lobbing Genevieve or Orji, they jst had a friendly meeting.

Go and ask Gene or Orji, i repeat wat i said earlier that IMF doesn't lobby individuals.

grandstar:


Imagine a teenager is staying with your aunty. Her stomach is protruding which it was not 6 months before, she has gained weight and her breasts are bigger. Her eating habits are irregular.

Then imagine you suggests to your aunt that she is most likely pregnant and your aunt says its not possible. Will you be dumbfounded? You'll probably wioll.

The IMF like you in the fictional story I just gave you is simply pointing out the obvious! It is shocking when simply reject the obvious.

Buhari refused the naira to depreciate at the official rate.

What happened at the black market was even was than a devaluation: the currency crashed to 320 (even touching 397) at one time!

Unfortunately for you and me, many goods are priced at the black market rate so inflation is rising very fast. Its the highest it has been for 4 years.

If Buhari had allowed the currency to depreciate, it poorobably would have settled at around 250 and the black market 255.

The refusal to devalue has led to chronic dollar shortages has it has made the dollar tpp cheap leading to excessive demand at the official market. Also, individuals and companies with forex refuse to sell at the official rate because the price is to low. Who is pleased receiving WU at 197? Not me.

One of the causes of the epic and persistent petrol scarcity is the scarcity of forex by provate oil marketers to import petrol and augment government's effort. The weight is too much for the government to carry.

Soludo, Sanusi and Utomi have all ciondemned Buhari's policies! The naira should touch 400 at the black market if he does not devalue. The economy is doomed!

Truth is we do not give a rat ass two hoots what the IMF thinks is good for us. We will take starvation hunger and death anyday before a decline back to western slavery. NEVER. This one more step to freedom. Kwame Nkurmah, Thomas Sankara are watching us from their graves right now. We must not fail. Freedom for Nigeria is Freedom for Africa

repogirl:
don't be naive, diversification doesn't work this way.

For diversification to work, some things have to be put in place. It will not appear overnight by itself. Other structures (stable electricity, policies and incentives that encourage the local manufacturer among others) need to be put in place.

Even if the structures are in place, you still need raw materials and some other things which a manufacturer will need to source from other countries. To do this, one needs forex.

As long as forex is not readily available, forget your diversification theory. Whether you like it or not, you need money to make money and it's not naira we are talking about.

Lastly, I don't work with IMF, I am just a concerned citizen.

Same here Sis, I am of the opinion that we suffer the suffer now then enjoy later than going imf way...

Enjoy your evening ... meanwhile, it's Friday oooooo, make I hang out..

grandstar:


Imagine a teenager is staying with your aunty. Her stomach is protruding which it was not 6 months before, she has gained weight and her breasts are bigger. Her eating habits are irregular.

Then imagine you suggests to your aunt that she is most likely pregnant and your aunt says its not possible. Will you be dumbfounded? You'll probably wioll.

The IMF like you in the fictional story I just gave you is simply pointing out the obvious! It is shocking when simply reject the obvious.

Buhari refused the naira to depreciate at the official rate.

What happened at the black market was even was than a devaluation: the currency crashed to 320 (even touching 397) at one time!

Unfortunately for you and me, many goods are priced at the black market rate so inflation is rising very fast. Its the highest it has been for 4 years.

If Buhari had allowed the currency to depreciate, it poorobably would have settled at around 250 and the black market 255.

The refusal to devalue has led to chronic dollar shortages has it has made the dollar tpp cheap leading to excessive demand at the official market. Also, individuals and companies with forex refuse to sell at the official rate because the price is to low. Who is pleased receiving WU at 197? Not me.

One of the causes of the epic and persistent petrol scarcity is the scarcity of forex by provate oil marketers to import petrol and augment government's effort. The weight is too much for the government to carry.

Soludo, Sanusi and Utomi have all ciondemned Buhari's policies! The naira should touch 400 at the black market if he does not devalue. The economy is doomed!

So we should keep importing oil. Where r this people coming from? I can only assume that u r paid to do this bcoz i refuse to believe that thgere r people as dumb as this.

It's said that the definition of madness is doing the same thing over and over again expecting a different result.

Nigeria from inception had been following the IMF advice, what do we have to show for it?

It's obvious the IMF method of developing us has not worked for us, so it's high time we try a different one: the Chinese method.

uduak2016:


Very smart fellow. I have observed after reading most comments on here that most Nigerians are oblivious of history. I'm certain you have read the book The Confessions of An Economic Hit Man. In all honesty, I see IPOB movement gaining momentum any moment from now as you said, even on CNN. Same with Kanu exposure to all foreign media! I said this before and will say it...there are strong forces in the world behind Nnamdi Kanu, that's why he is that bold, insults anybody including Camer0n and 0bama, and still got visa to enter US. Lol! His bodyguards and security detail about 4 or 5 are armed foreign intelligence trained I read...follows him around the world even in his kitchen. Lol! He is very certain IPOB will come...he is 100% certain. He knows Buhari can do him nothing otherwise I'm sure DSS would had silenced him under their custody months back. Those forces wants him in jail, so when he comes out, you have another Mandela, and the jinx is up for Nigeria. Someone, a very smart fellow also explained this in detail...he was spot on!

Mandela to who? Nnamdi Kanu. Even more than 80% of ibgo people think he is a rogue. Even if they r angry with something is Nnamdi Kanu the answer to igbo problem. I dont even now why Buhari is dealing with this. The Niger deltans do not want to go. Only the igbos want to. He should cut out the 5 igbo states and let them go. The wahala is getting too much.

repogirl:
well...you have good points.

Nigeria's problem has always been proper implementation.

On paper, your ideas sound good but in reality, I'm skeptic. I hope Buhari is able to work on the infrastructure needed to move the economy forward.

It is true that the idea will be harder in reality due to attempts that will be made to sabotage Buhari's government but it can be achieved if we support the President, after all, it is in our own interest.

vicadex07:
****

Am sure your allegiance is with biafrat going by your previous posts so am not surprized that you want buhari to fall and Ngeria to fail.

u get time to reply such unintelligent response sef. u for just read her comment and just act like u didnt see it.

repogirl:
who is she?

The lady you were dishing out the analysis to

Chubhie:

We as a people can resolve our differences and present a United front which no politician can exploit. It begins with you and I right from this forum.

If today the west and her friends decides to turn Nigeria into another Libya or Syria, it is you and I that have everything to lose not politicians that hide their wealth in Panama. Dangerous times ahead for Nigeria if not well handled.

As for me, on my honour, I'm always open to truce.

Chubhie:

How Europe underdeveloped Africa is outdated. The revised edition is How Nigerian Elites Looted and Underdeveloped Nigeria. Do I need to mention their names?

Aliko Dangote, Ibrahim Badamosi Babangida, Theophilus Danjuma, Peter Uba, Olusegun Obasanjo, Andy Uba, Godswill Apkabio..... Should I name more?

omenka:
As for me, on my honour, I'm always open to truce.

Together, we shall make the peace.

NaijaTalkTown:
Aliko Dangote, Ibrahim Badamosi Babangida, Theophilus Danjuma, Peter Uba, Olusegun Obasanjo, Andy Uba, Godswill Apkabio..... Should I name more?

Fayose, tinubu, Fashola, GEJ, David Mark, Ajimobi, Achike udenwa, Rochas, Sanusi lamido Sanusi......

repogirl:
Cray.

Notwithstanding.. U are a beautiful Lady

Africans again.... smh


IMF loans saved South Korea and some other Asian countries, and it was the same conditions they were given.
Who borrows loans to be giving subsidies? or funding inefficient public corporation's?

Or can you borrow money to someone that is living lavish?

Anyways

ojuolu:
All these because we are romancing China...LWKM.
These west and their outdated neo colonialist institutions. If we embrace Flexible exchange rates, what is our productive capacity presently to counter the adverse effect of this exchange rate regime. They told Babangida Regime and Sonekan same thing and the scar is still on naira till today. PMB has people around him to know better than to dance to the tune of IMF. When i was in school, we use to study IMF conditionalities and even now, these conditionalities have not changed, just that liberal marriage law(same sex marriage has been added). Like i keep saying, let us manage our economy our own way. China did it, they are creditor to US today. UAE did it, they have become the 8th wonder of the modern world., Japan has done it and they are still doing it, why not Nigeria? Is IMF afraid of the outcome, the freedom the development after these economic wilderness? We have too many professors in this government not to have considered this option in the first place. The colonial master want to continue the plundering that left african continent in the mess we are today. Madam IMF should leave us alone.
#GODBLESSNIGERIA#

Thanks, i wonder how some Nigerians think or believe that Largarde loves Nigeria and Nigerians more than Buhari. Since the seventies IMF have been teleguiding our past presidents, where has that taken us? Countries like Singapore, China and co, that broke off to do their own thing are better off today. It is not to the West interest that Nigeria becomes a reliant Nation, Hate Pmb all you want, but know that Largarde does not love you either.

compujyde:



No one disputes that. Just that Nigeria doesn't share the same foundation as the country you just compared her with and will always be vulnerable except the foundation is relaid through a genuine national conference accompanied with immediate constitutional amendment.

By the way, Intermarriage does not unite ethnics nor countries - It basically starts and ends with the families involved and some of those families don't still get united.

We are the ones making ourselves vulnerable through our clannish attitudes, no constitutional amendment can solve that, despite the foundation of united states, racism is stiil an issue but how come they are so advanced? Sincerity of purpose is key here. We once had true federalism working wonders in the 60s but the same clannish behaviour of some misguided young fellows destroyed the best system of govt we ever had, now we have seen the value and we are crying day and night to have it back. We need to purge ourselves of our clannish tendencies before we can get truly developed.