1. China is nigeria's largest in partner, round tripping to buy a costly dollar to change for the yuan would lead to to losses for the nigerian economy

2. A new business model of buying the yuan and converting to dollars to sell here at a higher price would by law of diminishing returns reduce the black market price hereby correcting it.

3. If nigeria is leading this move of easy yuan access in africa the entire african state would prefer to deal more with yuan than the dollar leading to less demand and lesser dollar value.

I never expected this move but as it is the nigerian president could just have engineered the fall of the US state.

P.S this is just an economic analysis and not political propaganda.

I pray for our president for he has committed a big sin against the most powerful group of protectionists, this is what Ghaddafi and Saddam wanted to do and they waged war against them; just watch out for anti Nigeria/anti Buhari moves from the Western World.
This is when he and this country needs the support and prayers of every patriotic Nigerian, we are now treading in very dangerous waters.

Advantage & Disadvantage Of Nigeria And China Deal


if you ask me, the only advantage is temporary and divert the existing problem.



Advantage of Nigeria & China Deal

1, to reduce temporary pressure on the dollar

2, cheaper import of Chinese goods & service

3. using Nigeria as a contact point or business hub to other west Africa country

4. short team infrastructure to ease suffering

5. the naira we now be accepted by some Chinese

6. opening of Chinese and Nigeria trade.

Disadvantage of Nigeria & Chinese Deal

1, it discourage local product since its cheaper to import

2. it will increase importation as never before. and most especially this critical time oil is worthless

3. its contradict the slogan of Diversifying Nigeria economy

4. we have little to export to China compared with our import from chine

5. the profit margin scale is not balance Nigeria is on the losing end.

6. the long team is disastrous to our economy

7. Chinese yuan is not worthy to bank on inflation will kill our reserve.

8. Chinese will start taking over our jobs and owing a store and storehouses. like it happens in Zimbabwe

9. on the long run there will be scarcity of the yuan just like dollar today.

you are free to add yours.

Joel3:
Advantage & Disadvantage Of Nigeria And China Deal


if you ask me, the only advantage is temporary and divert the existing problem.


Disadvantage of Nigeria & Chinese Deal

1, it discourage local product since its cheaper to import

THe dollar scarcity has made imported goods expensive but over the months there has been no obvious decline in our appetite for imported goods in favor of locally made ones which would have decreased dollar pressure.