hardywaltz:



http://saharareporters.com/2016/05/13/buhari-bows-imf-pressure-devalue-naira-290-dollar

luvinhubby:
When we told these people that Buhari is dumb.

oduastates:
Today's worst news.
These same people are the main reasons why obj saved the Excess Crude and built up the foreign exchange.
A patriotic act. Obj called their bluffs time and time over again.
You are not independent country if you are a perpetual or chronic debtor.
The IMF is controlled by powerful American investment banks. Those banks are only interested in making money by any means possible. After lending you the money, they will look for ways to make you pay over and over again.
I am sure the IMF wants the exchange rate to float freely.

What Nigerian unpatriotic quacks say will happen
Everything will normalise after borrowing from the IMF and devaluing the naira


What will actually happen

The political thieves,foreigners,foreign firms and wealthy Nigerians with naira trapped in the Nigerian economy will convert their naira to dollars and shipped them out. (The same thing happened in Greece.)
The money borrowed ends up not providing any benefit to the country.
In the meantime The Nigerian debt has becomes larger.

Now I expect the parallel market to devalue further in order to maintain their margin. That is, if they've not done so already.
While I predicted the list directly below when Jonathan was squandering the country's resources, it is very important that Buhari rejigs is team, reorder his budget and rethink policy to deliver better services delivery as quickly as possible. (E.g step can be taken to reduce 25% of Nigerian fuel consumption in Lagos)
Emphasis on quickly.

Runaway Inflation
Civil servants strikes for more salaries
More inflation
More hardship for non civil servants.
Interest rates will go up.

The Nigerian economy is bedevilled by evil spirits( Nigerians).
The only places where the economy works are in poor autonomous or isolated villages where

1 prices are not set arbitrarily.
2 the laws of demand and supply actually works.
3 The value of the naira is governed by it's purchasing power and not the foreign exchange value.
4 inflation is low (local goods).

tylerbraid:
This came from sahara reporters, all they say is "one of our sources" without mentioning any name & y'all jump to bash all because the name 'buhari' is involved. No single quote was made from buhari in this fake news. And most people are rushing to pour out hateful comments. If he said anything about devaluation, he would have addressed it to the press directly through his media officer or personally like he did on CNN. At this stage of time, anyone can come up with any news even a toddler as far as there's internet. But the inability to verify the news from right sources with quotes from those involved would continually be a problem.

repogirl:
Kikiki.... Where art thou, O Zombies?


I nobtalk am? Pikin wey refuse to greet him elder, dem go flog am mercilessly and after he cry finish, he go waka go greet that elder!

ononujuchika:
This buhari has no single truth in his mouth!

Tufiakwa!old man lying p and down.

222Martins:
E Don Happen Oh!!!!!!!! Rain or Sun, Subsidy or Devaluation; I am making money this year. Who's with me?

otokx:
why $290? let them make it $419.

Adesiji77:
This should not be surprising...the handwriting can be seen on the wall.

However, Vanguard newspaper reported: "But speaking to Vanguard Mr. Femi Adesina, the special adviser to the president on media and publicity denied the reports. He said there was no such plans."

Source: http://www.vanguardngr.com/2016/05/buhari-devalue-naira-290-dollar/

Cc: lalasticlala, dominique, Mynd44, Seun

MasterofNL:
Buhari! Buhari!! Buhari!!!

Cc

Beremx, Gbawe, Omenka, Obiagelli, Ngeneukwuenu, Urennankoli, Passingshot, Obailala, Dropshot.

hollyfat:
In Lie Muhammed voice "The devaluation of Naira will create 500,000 jobs"

hollyfat:
In Lie Muhammed voice "The devaluation of Naira will create 500,000 jobs"

222Martins:
E Don Happen Oh!!!!!!!! Rain or Sun, Subsidy or Devaluation; I am making money this year. Who's with me?