For those who don't understand why we are against the loan from China, these are the reasons:
1) China wants to lend us 2 billion dollars, but they want to give us in Yuan and not the dollar itself.
2) They are not handling us cash, but service exchange; meaning if we want to buy iron rod, we buy it from Chinese company and they pay the company on our behalf. If we want to construct railway, they will construct it for us and take the money out of the loan. In the end, we are bound to award contracts to them, cutting out competition from others and fairplay to others (non Chinese company can’t bid or compete to reduce the cost.) They get to value the contract and determine the price, meaning they can sell something worth 200 Naira for N2000 and we don’t have a choice ‘cause it is on credit.
3) China wants us to pay back in dollars, that is not all, we are moving our foreign reserve to fake currency(Yuan) a currency that is manipulated openly by the Chinese government. Did anyone ask Lamido Sanusi what happened to some of our reserve he moved to Yuan few years ago? They sold us Yuan at 4 to a dollar, only to devalue their currency few weeks latter to 9 Yuan per $.
Many Nigerians don’t know that even Chinese company don’t want yuan, nobody want it, Chinese foreign reserve is in dollars, China is the largest holder of US bond, they want dollars by all means.
4) China have more lobbyists in Washington DC than any other nations on earth, begging Washington politicians to always make policy in their favour, how can such country save us from USD?
Has anyone asked why China hasn’t built any refinery in Nigeria?? They have the money, they want the profit, but never did it.
You must be living in a PARALLEL world if you think that Nigeria’s intention of being a clearing house for the Yuan in Africa means the naira will now hold steady.
If you like tie your currency with Thailand Baht or Ghanaian Cedi, the value of your currency will always have the value it deserves.
The Yuan will swing with the wind depending on what happens to the world’s controlling currency , the dollar.The naira will continue its natural slide as you produce and export very little and even your trade with China becomes very expensive as the world’s comparative exchange rate will not wait for the Naira/Yuan pretend marriage. The value of the naira will continue to be subject to the international exchange rate, which is controlled by the DOLLAR!
Nigeria has taken the path of double parallel which will be unsustainable in the medium term as a consumer nation.
The naira will continue to fall unless you can sell more oil or start exporting something the rest of the world would pay you for.
My projection for the naira is 500 to $1 by year end if the oil price does not improve drastically and we sell oil, the only thing we ‘produce’.

https://mobile.facebook.com/story.php?story_fbid=1336970399652130&id=847515628597612&refid=8&_ft_=qid.6273908586081249973%3Amf_story_key.630062446628325690&__tn__=%2As

If by what you analize is right, I think there is some sense in it.........sometimes I think of how this china loan go truly translate to strengthen the naira, cos I know say china things no dey last........I fear the worst for the future. Just pray this government get it right.

geesilver:
If by what you analize is right, I think there is some sense in it.

it's analysis from Fayose. not me bro.
though I've been following the happenings but I won't say anything yet.

Aare2050:


it's analysis from Fayose. not me bro.
though I've been following the happenings but I won't say anything yet.

Aint u fayose media aid anymore. Stop denying this or are u afraid of seun and lala, no worry...

evrybdy don turn 2 analyst or economist...smh

geesilver:

Aint u fayose media aid anymore. Stop denying this or are u afraid of seun and lala, no worry...

you are funny.

^^ n ^^ I don't want to mention names, they are my guys, I think they both like Fayose too

Aliyeous:
evrybdy don turn 2 analyst or economist...smh

bro. if you have the opportunity to pass through secondary school, you should know something about economics, at least, scale of preference.

one chance government.Nigeria is finished

Na to de watch nigeria n China....

What do you expect from a GOAT if not meeeehhhh. Fayose is displaying his mental capacity and OP is here wasting his time. You think you're doing me?

olaboy001:
What do you expect from a GOAT if not meeeehhhh. Fayose is displaying his mental capacity and OP is here wasting his time. You think you're doing me?

^^^nice one.



You will Learn one day.
just that I don't know the day

Aare2050:


bro. if you have the opportunity to pass through secondary school, you should know something about economics, at least, scale of preference.

my guy nt evry sec sch

Aare2050:



^^^nice one.



You will Learn one day.
just that I don't know the day

Any small thing my PDP goons will want to convince me GEJ was the best thing since Adam apple. I don learn 6 years of transformation nah

olaboy001:

Any small thing my PDP goons will want to convince me GEJ was the best thing since Adam apple. I don learn 6 years of transformation nah

check my threads my guy.
you will see for yourself if I'm your APC or your PDP goons.

we should stop seen any reality coming from the opposition as lies.

God help our nation

Hmmmm. If these analysis are true then we are in for it but I know the president wouldn't do anything deliberate to impede the country's progress.
His actions are geared towards a better Nigeria.

I can't believe Fayose. The man is doing everything in his power to discredit the work Buhari is trying to do.

This is a man that wished death on Buhari. He'll go any length to convince foools that Buhari is destroying the economy.

Very soon, very very soon, he'll be put to shame.

If he decides to continue like this till 2019, he'll end up like Suntai

Ok

How many times we wan read this same piece! We have heard abi.

geesilver:
If by what you analize is right, I think there is some sense in it.........sometimes I think of how this china loan go truly translate to strengthen the naira, cos I know say china things no dey last........I fear the worst for the future. Just pray this government get it right.

that‘s in the past sir..
Well i believe things would still get better.. This nove is to make the economy better

you and who are the we, lets know ur colleagues in madness?

Abgero

Fayose dat dumb ass fool

so this man is still talking after his epic disgrace.

Ekiti people really need to tame dis guy, were e ti fe jata oo
Two governors in the same country at the same time, one went with his state's resources n claimed he went for business while d oda went with d federal government largese n they both achieved something which can b seen in d pix.

This man is always making sense buh zombieswud neva realize that...

Let's watch and see as their god Bubu disappoints them

let watch nd see

How many times will people post this rubbish?
If it's from Fayose then calling the guy is retarded.

e

Facebook newsfeed post by: Kunle Oduah
Kunle Oduah shared the following link and had this to say about it:

Currency Deal With China To Crash The Dollar By 70% !

President Buhari doesn't have certificate but he sure knows how to make things happen and do what some heroes with unproven Ph.D. can't even dream of...

1.As President Buhari and CBN Governor, Emefiele moved closer to actualizing their promise to strengthen the naira against the US dollars

2.By signing a landmark currency deal with the Industrial and Commercial Bank of China Ltd on Tuesday in Beijing, China.

3. The agreement will allow Nigerian who imports mainly from China conclude their transactions in the Chinese currency instead of the dollar

4. The new agreement would see Nigeria-China trades, which accounts for over 70 percent of imports into Nigeria, concluded in the Yuan.

5. Until now over 90% of int'l trades between Nigeria & the world is done in dollars, & in the process putting so much pressure on the naira

6. Nigeria imports almost all it needs from the West, Middle East and Asia.

7. The CBN is expected to diversify a huge chunk of Nigeria’s foreign reserve from the dollars to the Yuan to perfect the agreement.

8. “It means that the renminbi (Yuan) is free to flow among diff banks in Nigeria, & the renminbi has been included in the FXR of Nigeria,”

9. FXR means foreign exchange reserves

10. Lin Songtian, director general of the African affairs department of China’s foreign ministry, told reporters in Beijing ...

11. .. a few minutes after the agreement was signed between the Governors of the nations’ reserve banks..

12. in the presence of President Buhari & President Xi Jingping of China, who is hosting Buhari and top Nigerian officials to a state visit.

13. Lin said a framework on currency swaps has been agreed with Nigeria, making it easier to settle trade deals in Yuan.

14. China has signed currency swap deals with countries ranging from Kazakhstan to Argentina as it promotes

these will not spare you from traitorousness act, bonehead...!!!

This is why I am a keen follower of Gov. Fayose, he doesn't just criticise for criticism sake but for enlightenment and for setting matters straight.
All the members of the president's economic team will not claim ignorant of these reasons stated by Fayose but chose to remain dumb thereby mortgaging the future of our dear country just for their selfish gains.