Onegai:


You are the 2nd person saying this in my hearing in less than 4 days. And the way person had documentation to back it up. He said the IMF and World Bank are allowing our government to make as many mistakes as possible in order to sweep in and mop up assets at a cheap price. He had so much evidence but I thought it was a conspiracy. And that they were in competition with Asian countries to own as much of African assets as possible (in order to shore up their own economies). That by the time they are done, everything in Nigeria will be run by foreign companies with Nigerian figureheads and they will always have a market to dump and sell their goods on to repartriate funds back to their economy. He called it the "2nd Great Colonisation". And last year, people who have families in government (not small names o) quietly started moving their families and assets out of Nigeria. I have even mentioned this on NL before.

I'm now terrified.

DTOBS:

What about the govt policies that are hindrances to local production of goods? What about those factors that are not encouraging local production?
What about those in govt trading in FX and making life hell for those using same to do legitimate biz?
My brother, our govt has a lot to do in controlling how our naira fear!

Lifestone:
Some will blame PMB for this but I won't.
So long our appetite for foreign goods consumption is high, Naira will continue to fall. I heard the story of a Nigerian family that buys their vegetables from stores in the UK.
Buhari must stand firm with steady hands and force a change of taste from Nigerians.This is our time to finally restructure how our FX are utilised.
We must eat Nigerian Rice, buy Nigeria made cars etc.

SmartChoices:

Shut up! Buhari is responsible for this mess.... Better for a leader to do foolish things than to utter foolish words!
We don't want a restructured fx utilization! We need a restructured Nigeria!

It's only in Nigeria that the FG acts like a local government

Standing5:
Stop being terrified and terrorized by 'Ignorance'. Your appetite for foreign goods and service is the real cause of dollar rate skyrocketting. As long as you earn less dollar(via oil and other export) and consume the available ones faster it will keep creating a supply deficit of $ and send its rates high. The era of subsiding dollar at the detriment of exporters is over. Wake up and up your service and product game to intl standard to stand a better chance of making dollar on a personal level.

Lifestone:
Some will blame PMB for this but I won't.
So long our appetite for foreign goods consumption is high, Naira will continue to fall. I heard the story of a Nigerian family that buys their vegetables from stores in the UK.
Buhari must stand firm with steady hands and force a change of taste from Nigerians.This is our time to finally restructure how our FX are utilised.
We must eat Nigerian Rice, buy Nigeria made cars etc.

signz:


No doubt PMB has over 80% of the blame.

No time to blame anymore. Someone has already predicted that dollar will rise to 610 in no distant future.

PIB must be passed as soon as possible so as to attract investors and pacify the oil communities.

NNPC JV and other assets sold and NNPC privatised, Saudis are about doing it to their state oil company so why shouldn't we do it.

Sometime last year CBN governor Emefiele advised that the FG should sell just 25% of our oil equity to make over 14 trillion naira for infrastructural development, we laughed at him (me inclusive) but see now the man knew what he was saying. Now i am advising the FG sell 75% ASAP and spend it on railways, roads, power,seaports, etc. FG must spend us out of recession. I heard this may also attract FPI's and FDI's back into Nigeria

For a longer lasting solution, We must restructure. FG must be willing to relinquish some powers to the states.

PMB must find a way to restructure Nigeria.

Again No time to waste time

Standing5:
Stop being terrified and terrorized by 'Ignorance'. Your appetite for foreign goods and service is the real cause of dollar rate skyrocketting. As long as you earn less dollar(via oil and other export) and consume the available ones faster it will keep creating a supply deficit of $ and send its rates high. The era of subsiding dollar at the detriment of exporters is over. Wake up and up your service and product game to intl standard to stand a better chance of making dollar on a personal level.

signz:

Sometime last year CBN governor Emefiele advised that the FG should sell just 25% of our oil equity to make over 14 trillion naira for infrastructural development, we laughed at him (me inclusive) but see now the man knew what he was saying. Now i am advising the FG sell 75% ASAP and spend it on railways, roads, power,seaports, etc. FG must spend us out of recession. I heard this may also attract FPI's and FDI's back into Nigeria

eleojo23:


Look at how the naira has fallen by almost N200 in just one year. Haba! Na today we begin buy things from abroad abi na today crude oil price begin fall?

No matter how you look at it, Buhari's clulessness is the major cause.

signz:


No doubt PMB has over 80% of the blame.

No time to blame anymore. Someone has already predicted that dollar will rise to 610 in no distant future.

PIB must be passed as soon as possible so as to attract investors and pacify the oil communities.

NNPC JV and other assets sold and NNPC privatised, Saudis are about doing it to their state oil company so why shouldn't we do it.

Sometime last year CBN governor Emefiele advised that the FG should sell just 25% of our oil equity to make over 14 trillion naira for infrastructural development, we laughed at him (me inclusive) but see now the man knew what he was saying. Now i am advising the FG sell 75% ASAP and spend it on railways, roads, power,seaports, etc. FG must spend us out of recession. I heard this may also attract FPI's and FDI's back into Nigeria

For a longer lasting solution, We must restructure. FG must be willing to relinquish some powers to the states.

PMB must find a way to restructure Nigeria.

Again No time to waste time

Chukzyfcb:

let's discuss this in plain terms, are you aware that the federal govt gets about 20billion dollars in oil revenue , we also get about 20billion dollars in remittances. now if about 40billion dollars is coming into the country, have you asked yourself how come it's still not sufficient enough to fuel our demand for dollars, or will you say that Nigerians demand for over 40billion dollars annually just to import?

Standing5:
I was forced to mention you twice in order to make my argument clear.
I support the call to sell state asset but no the call to use its proceeds in building general infrastructure. I suggest they be used to build project that will serve industries mainly. We 've place emphasis on consumption and comfort for too long. Its time to priotize production activities that will employ people and earn forex. Since we 've nice crude I suggest the govt priotize refineries above all other projects.

Standing5:
I was forced to mention you twice in order to make my argument clear.
I support the call to sell state asset but no the call to use its proceeds in building general infrastructure. I suggest they be used to build project that will serve industries mainly. We 've place emphasis on consumption and comfort for too long. Its time to priotize production activities that will employ people and earn forex. Since we 've nice crude I suggest the govt priotize refineries above all other projects.

Standing5:
Stop mixing politics with economics that affects you. Buhari isn't the cause of any dollar problem. Your appetite for foreign good is. The government has been subsidizing $ with the excess of what it earned from crude sales all these years. It is time for govt to stop keeping the dollar rate down and encourage export of goods that can earn $ in place of oil.

Lifestone:
Some will blame PMB for this but I won't.
So long our appetite for foreign goods consumption is high, Naira will continue to fall. I heard the story of a Nigerian family that buys their vegetables from stores in the UK.
Buhari must stand firm with steady hands and force a change of taste from Nigerians.This is our time to finally restructure how our FX are utilised.
We must eat Nigerian Rice, buy Nigeria made cars etc.

Onegai:


You know nothing! I flew in several of my baby's things but decided to be patriotic and I bought a product for my baby to use, the locally made one. She began itching after application and crying to the point of scratching her skin off and slight bleeding. I checked online, several other mothers were seeing the same issue with the same product and complaining. Where the f**k was NAFDAC to do their job and make sure it was safe? They had collected their egunje and allowed these people to slap NAFDAC number on the product and sell off. Where was NAFDAC and other regulatory bodies when people were putting up pictures of commercial bottled water being filled with ordinary untreated water? Do you know any politicians? I know several and they will tell you that only drink a certain company's water. But are allowing any Tom, Dick or Harry produce water for the masses. I know some of their families and they don't patronize Nigerian goods. So who is going to make Nigerian products "international quality"?? Is it my child's health they will use as testing ground until someone in government decides to do their job?? Please swerve.

Standing5:
I was forced to mention you twice in order to make my argument clear.
I support the call to sell state asset but no the call to use its proceeds in building general infrastructure. I suggest they be used to build project that will serve industries mainly. We 've place emphasis on consumption and comfort for too long. Its time to priotize production activities that will employ people and earn forex. Since we 've nice crude I suggest the govt priotize refineries above all other projects.

signz:


Historians will record that PMB's action or lack of it is to be blamed for the naira slump.

No doubt 'our' appetite for oyibo goods is to be blamed for the slump, but surely its not the sole/main cause of naira going down by 200 naira in 1 year.

FG won't subsidise my appetite for oyibo things but will subsidise people going to Jerusalem and Mecca to worship their God. Does this sound like we're serious in this country?

Standing5:
are you aware it cost use average of $28.99 process a barrel of crude for export? Multiply that by the no of barrel that yeilded the $40B revenve and deduct it.

Chukzyfcb:

all I am saying bro, buhar will be faulted for the way the economy is. in the first quarter we experienced a trade deficit of about 180billion. yea we can't export as we use to due to vandalism, but then that's the fault of the president for creating tension through his utterances in the media.
ask yourself this, if nigeria gets about 20billion dollars annually from foreign remittances which translate to an average of $5bn dollars per quarter, why hasn't the remittances be used to cushion the effect of the trade deficit of just 180billion in the first quarter, hence making the exchange rate stable? something is very wrong with this govt.

signz:



As for me, huge chumk of the money should be used to develop our infrastructures

Another chunk for industrial hubs in all geo political ECONOMIC zones.

The infrastructures to be built should have a direct impact on the industrial hubs. Example, a deep seaport in either Akwa Ibom or Calabar should be targeted at the petrochemical industrial hub of Niger delta and clothes manufacturing hub of ABA for export to central Africa.

Lets not forget giving grants and single digit loans to the manufacturers.

I am against Government being incharge of any kind of business, it has never worked before and it won't work now

signz:



As for me, huge chumk of the money should be used to develop our infrastructures

Another chunk for industrial hubs in all geo political ECONOMIC zones.

The infrastructures to be built should have a direct impact on the industrial hubs. Example, a deep seaport in either Akwa Ibom or Calabar should be targeted at the petrochemical industrial hub of Niger delta and clothes manufacturing hub of ABA for export to central Africa.

Lets not forget giving grants and single digit loans to the manufacturers.

I am against Government being incharge of any kind of business, it has never worked before and it won't work now

Standing5:
Dollar subsidy is worse than oil subsidy. In dollar subsidy the exporters get less income in Naira because the govt is surpressing dollar exchange rate. For this reason govt can't keep subsidizing $ while it tries to encourage alternative export commodities outside oil. Get it?

Chukzyfcb:

where are the exporters bro? look our manufacturing firms are losing revenues and closing up shop, multiple taxation , high loan rate of 27℅. inflation on the increase not forgetting the shrinking oil volume as a result of the presidents uncouth sentences. in what way has this govt favoured exporters? tell me pls what it has done so far that has made export increase?

Lifestone:
Some will blame PMB for this but I won't.
So long our appetite for foreign goods consumption is high, Naira will continue to fall. I heard the story of a Nigerian family that buys their vegetables from stores in the UK.
Buhari must stand firm with steady hands and force a change of taste from Nigerians.This is our time to finally restructure how our FX are utilised.
We must eat Nigerian Rice, buy Nigeria made cars etc.

Standing5:
The cocoa, palm oil, groundnut, cotton exporters have been discourage by the $ subsidy over time. Get it? You will soon start hearing of them again. Just imagine neting $10,000 from cocoa at N500/$. That's N5M.

Flexherbal:
The Naira is as weak against the dollar as the organ of a man who takes too much of sugary things.

Onegai:


You are the 2nd person saying this in my hearing in less than 4 days. And the way person had documentation to back it up. He said the IMF and World Bank are allowing our government to make as many mistakes as possible in order to sweep in and mop up assets at a cheap price. He had so much evidence but I thought it was a conspiracy. And that they were in competition with Asian countries to own as much of African assets as possible (in order to shore up their own economies). That by the time they are done, everything in Nigeria will be run by foreign companies with Nigerian figureheads and they will always have a market to dump and sell their goods on to repartriate funds back to their economy. He called it the "2nd Great Colonisation". And last year, people who have families in government (not small names o) quietly started moving their families and assets out of Nigeria. I have even mentioned this on NL before.

I'm now terrified.

Lifestone:

They were not banned from importation , but were barred from accessing official window for Fx.
For Pete sake check out that list yourself!