Anyway, it's too bad that we are suffering for what they term as good abi no best... my own is that I'm tired of buying things at much higher rate with the same money Ive been earning since the beginning of this year..

Anyway, it's too bad that we are suffering for what they term as good abi na best... my own is that I'm tired of buying things at much higher rate with the same money Ive been earning since the beginning of this year..

Miles300:
I really don't know where we lost it as a nation , they talk of diversification like it's 24hrs tin .atleast the Cbn governor is trying wat of the minister of finance who only talks of how they release funds for capital projects yet we don't see anything .. The worst that could happen to any govt is to av a medicro as a minister .

ThankYou!
Benefits of diversification is not reaped in 6months or one year.. or 5years sef. it should be a long term thing
I wish Buhari will kick this fool out.

this nigga is a joker, yes he and the yeye finance minister. How is doing trial by error a sound economic policy, since the last quarter if last year these niggas have changed economic policies which actually make them look confused, sell dollars to bdc today, tommorow scrap it, restrict the use of naira cards abroad and the internet today, tommorow peg it at 300 dollars. Holding tight to a dollar naira exchange rate which is not simultaneous to market rate today telling us its the best decision and tomorrow they devalue and tell us that the naira would appreciate.

sometimes this CBN govenor looks silly with his funny face, but to act like a comedian with his policies make him look even more sillier

trial by error economy!

donbenedict:
He should just go and sit down one place... nonsense.

He is already sitting down in one place......CENTRAL BANK.

It is well when the action acuses you and the results excuses you. In this case, the results are conviction you guys

ok

candidbabe:
Buhari has destroyed this country

Gbam! My only grouse with him is not resigning. I wonder why 9ja people cannot resign when they obviously know their work is being thwarted by people above them.

One major reason I respect NOI. She resigned as foreign minister, knowing it just was not her passion to do high power diplomacy. Not to mention the rot in the MoFA that appalled her.

If circumstances cannot let you do your work to your very best, do not hang around. Go where you can function at your best.

At the last MPC meeting, its obvious the core concern of the CBN is the high exchange rate caused by the scarcity of foreign currency (dollars) which is one of the factors that has caused the spike of inflation rate.

Diversification which is the way forward will not happen overnight. We all should try to see the reasons behind CBN's current decision to hike interest rates at the expense of development of the real sector. At the next MPC meeting, I foresee CBN bringing back down the interest rate.

Policy somersault ...

Go and sit down my friend. You took best economic decision and its yielding the worst result. Don't provoke Nigeria. Buhari is a monumental failure. We're where we are today as a result of his weak economic policies.

Hello N/Landers! Who has a giant tornado fan? We have to open the CBN Governor's Brain and blow the dust out of it. The brain cells are weak!

This man has be infected

9japrof:
this nigga is a joker, yes he and the yeye finance minister. How is doing trial by error a sound economic policy, since the last quarter if last year these niggas have changed economic policies which actually make them look confused, sell dollars to bdc today, tommorow scrap it, restrict the use of naira cards abroad and the internet today, tommorow peg it at 300 dollars. Holding tight to a dollar naira exchange rate which is not simultaneous to market rate today telling us its the best decision and tomorrow they devalue and tell us that the naira would appreciate.

sometimes this CBN govenor looks silly with his funny face, but to act like a comedian with his policies make him look even more sillier

What do you suggest should be done to address our issues?

Gkemz:
Go and sit down my friend. You took best economic decision and its yielding the worst result. Don't provoke Nigeria. Buhari is a monumental failure. We're where we are today as a result of his weak economic policies.

What do you suggest should be done to address the issues?

CuteTj:
At the last MPC meeting, its obvious the core concern of the CBN is the high exchange rate caused by the scarcity of foreign currency (dollars) which is one of the factors that has caused the spike of inflation rate.

Diversification which is the way forward will not happen overnight. We all should try to see the reasons behind CBN's current decision to hike interest rates at the expense of development of the real sector. At the next MPC meeting, I foresee CBN bringing back down the interest rate.

I don't blame people, they don't understand the situation, they assume there is one magic solution that the CBN has refused to use.

Hahahahahahahahha

idu1:
You are very stupiid!

Ask google

batiatus:
What do you suggest should be done to address the issues?

Of course you did, waiting for $1/#500 will be my finest moment

batiatus:

I don't blame people, they don't understand the situation, they assume there is one magic solution that the CBN has refused to use.

True... Many Nigerians are educated illiterates, most are stark illiterates while very few are the ones that are literates.

Can you blame them? No! The country has terribly battered peoples psyche to a point that we cannot reason objectively and logically and hence cannot believe the true pics of things. We hope things get better so that we can all enjoy Nigeria.

With all due respect Mr.Emefile ,the truth is that both your CBN & the governments economic team have been making a whole lot of policy summersaults in the administration of the nations economy this past few months.
Even if the country is in a recession,the government isn't supposed to compound the present hardship by being erratic in terms of policy making.Just like our foremost Professor Pat Utomi said last week, the government clearly hasn't had a clear definition of its economic agenda for the nation, they are just like a puppy chasing its own tail.Anyways where I have a major problem with this government is in terms of undue restriction on commodities most especially food.
Take for an example ,rice, the government banned the importation of this food item claiming that we have, or that we can feed ourselves with home grown rice when in fact we don't even have enough home grown rice to meet up with the demand. Now rice has become more or less like gold with the price increasing day by day.I know the government would blame the low exchange rates for this or the previous administration.But instead of throwing tantrums like babes,I believe that it would be wise for Buhari and his economic team to admit their errors and work towards the greater good of the nation.That's my opinion on this.Thank you.

Broz from ur comment, u sound like person wey neva chop since friday yet one sule is here telling us he took the right economic policy

Gkemz:
Go and sit down my friend. You took best economic decision and its yielding the worst result. Don't provoke Nigeria. Buhari is a monumental failure. We're where we are today as a result of his weak economic policies.

This man has ran-out of ideas.
Buhari will soon change you......

YOUR time is almost Up bro....

we took the best decision economically

This man is either a saboteur or he is out of his depths, Nigeria needs a stronger willed and more focused CBN governor, he is suppose to be smart but all he doing is trial and error methods, Nigeria needs a disciplined intelligent individual who is able to not only think out of the box but also able to comprehend situations. Emefiele has been making to many school boy errors like trying to defend the Naira aganist the dollar (when Russia who has deep deep pockets quickly abandoned the policy after a few months) or raising interest rates to 14% when entities like the UK and EU are cutting interest rates, also why try a create a monopoly for western union and moneygram by stipulating conditions that another competitors will fine virtually impossible do when simple commonsense dictates that you should create an environment that will encourage these companies that deal with foreign currencies to come to your shores (I mean if countries like the US, China, UK and EU encourages these companies why chase them away)
The Bottom line is that Nigeria needs foreign currencies we do not need the Naira to be in competition with these currencies, we also do not need our foreign currencies to be available to every dick and harry, priorities should be given to sectors like agriculture, power and industries and health industriies, let everyone else source their own currencies if you want to import tooth picks fine but you have to find your own dollars on the alternative market

Obviously they are in wrong direction.

Duru009:
This man has ran-out of ideas.
Buhari will soon change you......

YOUR time is almost Up bro....

You make me laugh.

The man is doing things working together with the presidency.

Blame it on Lamido Sanusi, who introduced the restriction dollar in circulation and let it scarce, allow politician to embezzled.


During obasanjo and yar'adua there was no problem on our exchange rate like this. Why,

The two Government truly practiced floats of currency...i.e no restriction of dollar or other currency by monetary system ( CBN and Commercial Bank's) .

Any foreign investors can come to Nigeria, and then call on the outlet outside Nigeria for Money, if the Money Dollar, should have been given the customer in Dollar instead of Naira,they would sell to beuru de change and the existence of dollar will determine it's price in the circulation.

You made policy that allow Govt official to embezle public fund in dollar, and let the so call dollar scarce in the circulation. i believe every transaction made from US or other country are being transferred to Nigeria in dollar and the money is being diverted by our corrupt politicians.

Up to this moment, the dollar is still being diverted. Cos you made this easy for corrupt politicians.

This is the most reason you are the cause of hardship Nigerians are going through now. Expecially in terms of exchange rate.

donbenedict:
He should just go and sit down one place... nonsense.

Why not use your sense that times if not all the time

batiatus:

What do you suggest should be done to address our issues?

do my suggestions matter ? not to talk of in a faceless forum like nairaland. These niggas dont listen to proven economists, nw me dey wan listen to ?