cool

Standing5:
I laugh in Naira defence. Nigerians produce next to nothing in terms of quantity and quality so we can't earn dollar forex to satisfy our unquenchable apetite for foreign goods. The habit of flooding fx market with cheap dollar by CBN in a bid to keep its price down A.K.A. Defending the Naira isn't sustainable any longer as petrodollar isn't flowing in in excess for now. Nigerians should start thinking of alternative exports.

Nigeria economy 'a critically sick patient, but left in the hands of 3 health care assistants'. When it's clearly need a team of specialist profs, consultants and senior doctors in the field to diagnose & perform emergency operations.

Who do we blame for the sudden death of the critically sick patient?
1) Is it the hospital management that employed the HCA in place of qualified specialist or
2) The 3 health care assistants or
3) Family members of the patient who happens to elect the hospital management that appoints HCA's to fill the positions of specialist.
4) Should the hospital management wait as usual for another '6 months', after the death of the 'Critically sick patient to carry out a post-mortem examination also known as autopsy, to determine the cause of death.
5) Should the family members of the critically sick patient wait till the imminent and eventual death to determine the cause of death.

You're free to place this words wherever you want;
A. Fed Govt
B. CBN/ Economy& Finance/ Budget & Planning
C. Family members as Nigerians.

"FOOLISHNESS IS WHEN YOU EARNESTLY BELIEVE YOU CAN COMPENSATE FOR A LACK OF SKILL BY DOUBLING YOUR EFFORTS, THERE'S NO END TO WHAT YOU CAN'T DO" -Larry Kersten

"COMPETENCE GOES BEYOND WORDS. IT'S THE LEADERS ABILITY TO SAY IT, PLAN IT, AND DO IT IN SUCH A WAY THAT OTHERS KNOW THAT YOU KNOW HOW- AND THEY WANT TO FOLLOW YOU. -John C. Maxwell

"WE CANT SOLVE PROBLEMS BY USING THE SAME KIND OF THINKING WE DID WHEN WE CREATED THEM" -Albert Einstein

"STOP COMPLAINING ABOUT YOUR PROBLEMS, INSTEAD IDENTIFY THEM & FIND A SOLUTION FOR IT". -Anurag Prakash Ray

Standing5:
I laugh in Naira defence. Nigerians produce next to nothing in terms of quantity and quality so we can't earn dollar forex to satisfy our unquenchable apetite for foreign goods. The habit of flooding fx market with cheap dollar by CBN in a bid to keep its price down A.K.A. Defending the Naira isn't sustainable any longer as petrodollar isn't flowing in in excess for now. Nigerians should start thinking of alternative exports.

How will Nigerians produce when there is no stable electricity? Nigerians should, Nigerians need to. What is the role of government please? I guess Nigerians should also make the policies, right?

blueto:
The Problem is our imports surpasses our exports now than before, I remember when Jonathan was the president, he made effective pro-people policies that ensure farming goods were abundantly produced, so they were able to raise the Nigerian exports. I believe there is no country that is independent, even China, they also import, but the problem is allowing imports to surpass exports. As a result of the contraction, foreign firms have liquidized, so they need forex to move their liquid capital out of the nation. Did you read the news of how MTN moved about $12b out of Nigeria? where did they source the simoleon from?

And also, foreign investors are now deterred of investing because if the harsh business environment, poor infrastructure, lack of basic amenities, multiple taxations, unfavorable forex policies and so on. they now resorts to buying bonds instead of making investments thay will see them inject more to the FX reserves. This admimistration needs more people like Emefiele, thank God Buhari didn't sack him, like he did to some other technocrats that GEJ appointed.

This is a precise summary; external reserves will NOT rise by magic if nothing is done to put things in place.

ephi123:


How will Nigerians produce when there is no stable electricity? Nigerians should, Nigerians need to. What is the role of government please? I guess Nigerians should also make the policies, right?

I weak Bro. ..Small time na we go legislate too...

Standing5:
I laugh in Naira defence. Nigerians produce next to nothing in terms of quantity and quality so we can't earn dollar forex to satisfy our unquenchable apetite for foreign goods. The habit of flooding fx market with cheap dollar by CBN in a bid to keep its price down A.K.A. Defending the Naira isn't sustainable any longer as petrodollar isn't flowing in in excess for now. Nigerians should start thinking of alternative exports.

you are the best. Are you an economist?
If no. You talked like one.

Standing5:
I laugh in Naira defence. Nigerians produce next to nothing in terms of quantity and quality so we can't earn dollar forex to satisfy our unquenchable apetite for foreign goods. The habit of flooding fx market with cheap dollar by CBN in a bid to keep its price down A.K.A. Defending the Naira isn't sustainable any longer as petrodollar isn't flowing in in excess for now. Nigerians should start thinking of alternative exports.

you make sense bro

I thought you zombies said it was empty? Olodo V12

Jokerman:
Why is it decreasing? ?
Have workers salary been increased? ?

Are there new infrastructures? ?

Have dey increased alawee??

When revenue decreases and cost remains the same, profit reduces as well.

No schock.all of our money being used by rich to pay school fees.

blueto:
The Problem is our imports surpasses our exports now than before, I remember when Jonathan was the president, he made effective pro-people policies that ensure farming goods were abundantly produced, so they were able to raise the Nigerian exports. I believe there is no country that is independent, even China, they also import, but the problem is allowing imports to surpass exports. As a result of the contraction, foreign firms have liquidized, so they need forex to move their liquid capital out of the nation. Did you read the news of how MTN moved about $12b out of Nigeria? where did they source the simoleon from?

And also, foreign investors are now deterred of investing because if the harsh business environment, poor infrastructure, lack of basic amenities, multiple taxations, unfavorable forex policies and so on. they now resorts to buying bonds instead of making investments thay will see them inject more to the FX reserves. This admimistration needs more people like Emefiele, thank God Buhari didn't sack him, like he did to some other technocrats that GEJ appointed.

Such is what happens when a nation relies on one commodity for 92% of its forex inflow, Nigeria is learning a very bitter lesson presently and there may be no fast route out of this mess. The best bet to get out of this mess is to boost manufacturing; solve Nigeria's power issue and you would have solved 50% of our problems... With power, manufacturing would pick up with a massive leap and so will our exports. The last time i checked, the momentum gained in agriculture in the last regime has not subsided, agro production is still on the increase but the fact is that agriculture alone cannot turn our fortunes around, 'adding value' to agricultural produce is what can do the trick, but power is needed for that.

Standing5:
I laugh in Naira defence. Nigerians produce next to nothing in terms of quantity and quality so we can't earn dollar forex to satisfy our unquenchable apetite for foreign goods. The habit of flooding fx market with cheap dollar by CBN in a bid to keep its price down A.K.A. Defending the Naira isn't sustainable any longer as petrodollar isn't flowing in in excess for now. Nigerians should start thinking of alternative exports.

As a general policy thrust, you very right.
You say Nigerians should start thinking of alternative exports. Basically you mean, we should "start thinking about" diversifying our economy.
I don't believe "thinking" is the issue. We have been "thinking" about diversifying the economy since the regime of Gowon, in the 70's.

What is lacking is a sustained economic framework, policies and rigorous implementation to make it happen.

Don't worry Buhari and his govt is "thinking" about it. Adesoun and Lai Mohammed (the economic engine room of Buhari govt) are also mouthing it. Yet there is no cogent implementation framework to make it happen. Go and look at all the vehicles in the President's, Governors, National Assembly fleet. DO you see any vehicle assembled in Nigeria?

Check out the furniture in Aso Rock, the foods consumed in the various government houses, the stationaries, etc. Are they made or even assembled in-country?

Where does your President run to for medical check-up, or when he has common ear infection? Is it not London?
And they

In May 2019, the President will tell you the result of his thought.

Kpele. Just wait, u hear?

yanabasee:


It decreased because our reserved asset is in form of dollars in the CBN coffer.... When the dollar depreciates so will the external reserve... And in all.. It's virtually due to Buhari's poor economic policies and emefiele's absurd and ludicrous monetary policies...

see ow u fail exams. Formin I-too-Know yet u failed to answer such a cheap question put to u.

cuteboy2:



As a general policy thrust, you very right.
You say Nigerians should start thinking of alternative exports. Basically you mean, we should "start thinking about" diversifying our economy.
I don't believe "thinking" is the issue. We have been "thinking" about diversifying the economy since the regime of Gowon, in the 70's.

What is lacking is a sustained economic framework, policies and rigorous implementation to make it happen.

Don't worry Buhari and his govt is "thinking" about it. Adesoun and Lai Mohammed (the economic engine room of Buhari govt) are also mouthing it. Yet there is no cogent implementation framework to make it happen. Go and look at all the vehicles in the President's, Governors, National Assembly fleet. DO you see any vehicle assembled in Nigeria?

Check out the furniture in Aso Rock, the foods consumed in the various government houses, the stationaries, etc. Are they made or even assembled in-country?

Where does your President run to for medical check-up, or when he has common ear infection? Is it not London?
And they

In May 2019, the President will tell you the result of his thought.

Kpele. Just wait, u hear?

It takes money to make money any action not executed 4-5 years ago can't be executed now. Your focus is 2019 so no need trying to explain further to you.

WhoRUDeceiving:


Even Greece is better. Nigeria was created for the benefit of English children and great grand children and you see the results of what has happened. Any challenge to that (aka Biafra, MEND, etc) is quickly labeled a threat and the propaganda for 1 Nigeria continues so bankers in the West can chop.

Its only we African nations that continue to buy into the fake hype and complain year in year out about the obvious. I know people know the right thing, but if it doesn't benefit your people, you will refuse it.

Must u peddle ur biafra matter everywhere. I beg keep ur biafra issue for biafra thread.

ivandragon:
I always maintain that foreign reserves balance is seriously overrated, its important, but overrated.

the west has conditioned us to believe that the more money we save WITH them, the better for our economy.

as mighty as the US economy is, it has less than $300m in reserve.

the main challenge Nigeria has with development is the way it is structured geopolitically & economically. as long as states are not fully empowered to harness their own resources & bear responsibilities for income generation & development, they will continue to depend on free handouts from FG.

is Lagos state not a state in Nigeria?

blueto:
The Problem is our imports surpasses our exports now than before, I remember when Jonathan was the president, he made effective pro-people policies that ensure farming goods were abundantly produced, so they were able to raise the Nigerian exports.

Pray tell what Nigeria was exporting more during GEJ apart frm oil?This is a sincere request and I need u to substantiate ur answer with proof.

Lest we forget =>




www.nairaland.com/attachments/4241395_obj_jpeg69052097a4fedb4aeb4c99f2aefd08a3

EternalTruths:

Nigerians are paying dearly for not taking technological education serious.

A nation that imports all her mobile phones and electronic gadgets will always end up like Greece.

Shym3xx hope you understand now.

Pls read my 2 mentions of you in the other thread I created.

Japan is a giant when it comes to technology. However, that didn't stop it from quintuple dip recession in 2015.

Anyway, that's beside the point right now. And it's part of a long term solution. Let's focus on the short term and nothing would be achievable without reducing the interest rates.

NOETHNICITY:
is Lagos state not a state in Nigeria?

Lagos is the business hub of Nigeria. & the developed seaport is a big advantage.

consequently, due to the large number of businesses, employees, population & the ripple effects it has on other sub-sectors, Lagos is able to generate quite a lot of revenue from taxes.

Standing5:
It takes money to make money any action not executed 4-5 years ago can't be executed now. Your focus is 2019 so no need trying to explain further to you.

I don't think you understood my comment in bold "In May 2019, the President will tell you the result of his thought".

What that statement means is that if we keep on "thinking", without coming up with what I call a bankable implementation framework, and actually go ahead to implement the so-called diversification programme, when the first term of this govt expires in May 2019, they will still be talking about "thinking", or at best mouthing the beatitudes of diversification with nothing to show for it, just like every regime since Gowon.

Hope you get it now.