bastien:
lol..... Me no get voters card let alone vote, I know say u vote buhari

I smoke?

solochris:


I smoke?

I be think say u smoke before ooh

NavierStokes:


And In your mind Arik plies all routes and have the capacity to meet the ensuing demand?

And safety regulations?
We all know Nigerian aircrafts are bad news.
Now to fly Arik and medview on very long flights.
God help us.

HawtMummie:



And safety regulations?
We all know Nigerian aircrafts are bad news.
Now to fly Arik and medview on very long flights.
God help us.

I wonder what these people fear about the competition, they celebrate foreign airlines gravitating towards going out of business for them to thrive. I maintain MEDIOCRITY ALWAYS FEARS COMPETITION. Put the right policies in place plus some support and we will patronize our local airlines. Must we fly in coffin's to show we are patriotic?

For the average Nigerian consumer to emerge winner in terms of quality service delivered there must be diversity and competition.

NavierStokes:


Of course. They put their charges and you are free to pay with whichever currency your card is denominated in.

That wasn't the case in Nigeria.

In our own case, you are forbidden from paying with our local currency (naira).

ClintonDal:
Oga what are you saying?? From the topic u ran to oil,yuan and so many irrelevant issues. Not everyone traveling abroad is going for importation,there are so many of us who work or study and live abroad. How do I pay almost 1million just for a return ticket.
First class tickets didn't cost that much 4 yrs ago.

I live abroad also. But you are right about it being a different case for those that live and study abroad. The ones abroad actually send $,€,£ or bring it in, which helps Nigeria. Every aspect of the economy ties into the Naira value. Thats my point and that Nigerian productivity is not established well enough to make their own aircraft or fully maintain purchased aircraft. So Nigeria remains demanding dollars to buy impot goods and services just to have a standard of living beyond nomadic cattle herding people.
Economy Ticket i bought to Nigeria from NewYork last year was cheaper than a ticket i bought to Nigeria in the year 1999. Very strange indeed.
But Nigerians are resilient at home and adapt to all conditions. Despite fuel scarcity/crisis or collapse of transportation system and other sectors.
See this photo, there are alternatives already in action

19naia:


I live abroad also. But you are right about it being a different case for those that live and study abroad. The ones abroad actually send $,€,£ or bring it in, which helps Nigeria. Every aspect of the economy ties into the Naira value. Thats my point and that Nigerian productivity is not established well enough to make their own aircraft or fully maintain purchased aircraft. So Nigeria remains demanding dollars to buy impot goods and services just to have a standard of living beyond nomadic cattle herding people.
Economy Ticket i bought to Nigeria from NewYork last year was cheaper than a ticket i bought to Nigeria in the year 1999. Very strange indeed.
But Nigerians are resilient at home and adapt to all conditions. Despite fuel scarcity/crisis or collapse of transportation system and other sectors.
See this photo, there are alternatives already in action

Ok now I understand. Because this news just broke my heart, coming back home now would be only on very important and dire issues. This whole ticketing price has made sure of that.

obailala:
@NavierStokes
I'm sure you are an intelligent person, can you please suggest what you think the government should do about this knowing fully well this caused by a forex shortage?

Do you suggest the FG/CBN opens the reserves and pays out the remaining forex in the vault to the foreign airlines to maintain their business?

obailala:
So in essence, it's still all about devaluation?.... It's quite amusing how people scramble to blame every forex related issue on Buhari's refusal to devalue. Sometimes I just wish this devaluation would be done so we can rest, and then I wonder what next our expert economists would put the blame on.

Foreign airlines are requesting passengers to pay only in dollars, the implication is that a $1000 ticket when purchased by passengers with dollars from the black market would cost roughly N320k instead of N200k which it should have cost if paid for in Naira. Now the very same people lamenting this higher cost of acquiring tickets are blaming Buhari for this hike and are suggesting devaluation of the Naira as the solution. I'm still wondering how devaluation can be a solution to this issue of price hike when oil prices are still down and forex still scarce.

Navierstokes
Float the currency and reserves will remain at best constant levels all modern nations operate a floating currency exchange. If only the currency has been billed in the bus when the slide began we wouldn't have been here at this point. I will tell anyone who cares to listen, with falling oil prices out currency was twice devalued, but inflation was single digit, negligible effect of prices of things in the market. Now our currency is fixed and we read sad news everyday. To what end are we maintaining a strong naira, that sanusi would spend over 117billion usd defending the currency? To what end are we maintaining a strong naira if it can not be exchanged in the intl scene?
The government's insistence on a strong naira at this point has been more of political rather than economic. And this government is banking on dumb luck that the price of oil will rise soonest, not because there is any calculated plan in place. Imagine what is happening to our revenues, customs isn't maing as much as projected because of largely reduced imports, marketers haven't been importing petroleum products due to forex shortage, FIRS by nexus isn't also recovering as much. To say our projected non oil revenue so greatly reduced.

Even the government meeting IOCs to provide forex to oil marketers, you think IOCs don't know black market? If PZ and others can patronize the black market, what stops the IOCs from valuing their cash at black market rates.

Those who are against devaluation to not love this country more the those who do. We all want a better Nigeria, one we can be proud of.

I just came across this post sometime ago, in our discussion on the currency controls.
This seems like a stitch that wasn't done in time, almost like the government and cbn came late to the party.

NavierStokes:

I just came across this post sometime ago, in our discussion on the currency controls.
This seems like a stitch that wasn't done in time, almost like the government and cbn came late to the party.

Bravo!... this total devaluation seems to be the way forward seeing as no other approach was working. Hopefully it will totally bridge the forex scarcity gap someway somehow.

obailala:
Bravo!... this total devaluation seems to be the way forward seeing as no other approach was working. Hopefully it will totally bridge the forex scarcity gap someway somehow.

Yea bro the market started with an initial guess of 253 naira to the USD as the first iteration, it will work it self to a new equilibrium or solution in the coming days. I hope that equilibria at this point isn't 600naira to a dollar, cos each day of delay that passed, pushed our equilibrium point further to the right.
Hope you are having a great week already?

NavierStokes:

Yea bro the market started with an initial guess of 253 naira to the USD as the first iteration, it will work it self to a new equilibrium or solution in the coming days. I hope that equilibria at this point isn't 600naira to a dollar, cos each day of delay that passed, pushed our equilibrium point further to the right.
Hope you are having a great week already?

The gap of about 50 bucks or 20% between the official and black market is simply to high. It shows that the system needs tinkering.

My worry is that the solution may be to bring back the BDC. Only problem is that statist Buhari will be against that idea.

Also why haven't Naira credit card spending limits increased. Rather the limit was further reduced to $500 .That was just cruel

This is real and annoying. Just paid twice the amount i usually pay to SYD

HawtMummie:



And safety regulations?
We all know Nigerian aircrafts are bad news.
Now to fly Arik and medview on very long flights.
God help us.

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