PMB, THE ECONOMIST!

PMB has done it again. The school cert holder (?) has done what a PhD holder could not.

Very simple economics. We buy most of our goods from China, so why must we pay the Chinese in dollars? The Chinese buy a lot of crude oil from us, so why must they pay us in dollars?

So PMB made a deal with the Chinese. We pay for the goods we buy from China in Yuan, the Chinese currency. They buy our crude oil and pay in Yuan.

The exchange rate is to be pegged at 30 Naira to one Yuan or RMB.

So how does it favour us? Simple.

The Yuan is now 6.48 to a dollar. So if you pay 30 Naira to the Yuan, that would be equivalent to 194.4 Naira to the dollar.

Since the dollar exchanges for 199 Naira, you save N4.6. 199 - 194.4 = 4.6. Simple, huh?

In simple terms, PMB has just strengthened the Naira by 9.15%!

And that's not the end of the story. As we begin to deal in the Yuan, the demand for dollar would plummet and this in turn would weaken the dollar. It would crash to around 140 Naira to the dollar.

May God bless PMB. Can I hear an amen?!

I will even suggest he take undemocratic measure ane devalue the naira to 899 to a dollar 1500 to a pound sterling and to euro.
All those whose children attend nursery school in Ghana and Swizerland etc will have a rerhink.
Genuine business person will access the dollar at 160 to q dollar
Hard pen or prison for contraveners will be built at sambisa forest, especially local and central bank staff

lets wait and see

I will even suggest he take undemocratic measure and devalue the naira to 899 to a dollar 1500 to a pound sterling and to a euro.
All those whose children attend nursery school in Ghana and Switzerland etc will have a rerhink.
Genuine business person will access the dollar at 160 to a dollar
Hard pen or prison for contraveners will be built at sambisa forest, especially forlocal and central bank staffs. Luxury items will attract 1000% impprt duty.
Subsidy on petroluem products especially gasoline will be shelved outright, prevailing subsidy will be moved in Agric and.education, Liquidifed natural gas and AGO will be backed wirh subsidy.

Pls call me, i lost ur contact, 08063540945 08184723440. Moses, Nasamy Autos