kings09:
Ok but let's not 4get, d target is #1 to $1

DropShot:

Perhaps you genuinely think some of these guys don't understand these workings of the economy. The truth is a handful of them do understand, but any good news makes them develop belly ache.

In another thread yesterday where it was reported that the economy recorded $1.2bn (?) capital inflow, they dismissed it, saying it's a small fry compared to past years! My argument that any report of capital inflow during recession, after witnessing series of capital outflow, is a good news to the economy, fell on deaf ears.

Watch as they start calling you "a paid per post sycophant"

Buhary again... I will make 1$ = 1NGN...

American election

Firefire:


Buhary again... I will make 1$ = 1NGN...

that was the economic policy of Buhari

NgcoboP:

that guy is not interested in anything not northern in nature.... especially not Fulani oriented. that my friend is the bitter truth

I actually wanted a change from GEJ because I saw him as wasteful BUT this man, I don't know how to place him now.

I wish he just acted.
I wish in time like this (with all his flaws) OBJ would have made a difference

NgcoboP:

I disagree.... and am quoting you because your earlier views sounded more sane and intelligent. now that we need restructuring and diversification Buhari is committing billions to oil exploration in Chad basin and other northern regions.... attempting to borrow what unborn children will pay for.....

if you like pump 10 zillion dollars into Nigeria it will not work unless there's a restructuring and aided by accountability and transparency with return of power to the LGAs with a termination of the feeding bottle federal system

Maybe I don't know why you dissagree with my post because I see we are speaking the same thing in different words

Firefire:



Buhary again... I will make 1$ = 1NGN...

Even the #Somali shilling is also gaining against the dollar, nothing to write home about...... Naija is a banana republic

kings09:
Ok but let's not 4get, d target is #1 to $1

d same day 1$ will sell for 1# ..iz d same day chris brown will y church

dat day will never come

shadeyinka:
Could it be that the Naira didn't appreciate but the apparent appreciation is due to depreciation of the Dollar?

The Dollar may just be reacting to the election going on in USA.

Nigeria has done nothing different to make her NAIRA appreciate in value!

GUY YOU B....A......D..... MOUTH die.

shadeyinka:


Maybe I don't know why you dissagree with my post because I see we are speaking the same thing in different words

yes. I will very much appreciate if you don't ever apologise for your views henceforth.

philomental:


GUY YOU B....A......D..... MOUTH die.

You be correct Nigerian!

NgcoboP:

yes. I will very much appreciate if you don't ever apologise for your views henceforth.

OK. Thanks for the advise.
I just appreciate if discussions can be civil irrespective of opinions.

Shun Sir!

Make I stand at ease?

Truth234:


So how do you get "capital importation" to source for raw materials in a mono-crude and import-depending economy currently in recession like Nigeria? Bro its a process, the money transfer agents and high interest rate (14%) to attracts FDI are means to an end, not the end in itself.

In as much we need FDI, what stops us for example setting up a cottage processing centres where with a machine that is less than N200k (which is not up to what some Nigerians spend on phones)that requires no electricity but will extract oil from tonnes of Avocado that wastes year in,year out instead importing avocado oil? Money is lying fallow amongst the political elites which is not being economically engaged. It is high time we engage what is around us and not think redemption will come from outside!

shadeyinka:


I agree perfectly with your submission. We should have used our "free money" from oil to develop our industrial capacity and free ourselves from the trap of importation.

If a miracle happens now and Nigeria can produce internally 80% of what she consumes. The Naira will be super strong even at the current price of crude.

Our economic leaders will rather have us find more oil for exportation rather than develop an industrial base.

yes because it is cheaper to get a lot of money from oil exploration than go into real manufacturing sector which thou might take long before you start eating its fruit but its fruit can last than the cheap oil money

developing the real sector (industry ) is not by looking for foreign investor, Nigeria has been doing that since 1960 and it has not taken us anywhere most of them die out immediately there is more local rival since the same govt that encourage them to come in the first place will start encouraging the local market against the international one
but the chief culprit is IMPORTATION promoted to the brim by the last administration everywhere is dump with foreign goods and when foreign goods are cheaper than the local goods then who will patronize the local goods
this is why present administration has to stifle the consumption of foreign goods consumption which is actually been aide by the drop in income from oil
no way we can come out of this glut without some pain

only those who dont understand how things work make noise about buhari
they think its about just opening the cental bank and release dollar to the economy

U fine o

mercichoco:
Thats a good improvement.
btw the post above hates goodnews

shadeyinka:

OK. Thanks for the advise. I just appreciate if discussions can be civil irrespective of opinions.
Shun Sir!
Make I stand at ease?

lol

NgcoboP:

lol

You're the man joo

very weak recovery

femarse:


yes because it is cheaper to get a lot of money from oil exploration than go into real manufacturing sector which thou might take long before you start eating its fruit but its fruit can last than the cheap oil money

developing the real sector (industry ) is not by looking for foreign investor, Nigeria has been doing that since 1960 and it has not taken us anywhere most of them die out immediately there is more local rival since the same govt that encourage them to come in the first place will start encouraging the local market against the international one
but the chief culprit is IMPORTATION promoted to the brim by the last administration everywhere is dump with foreign goods and when foreign goods are cheaper than the local goods then who will patronize the local goods
this is why present administration has to stifle the consumption of foreign goods consumption which is actually been aide by the drop in income from oil
no way we can come out of this glut without some pain

Perfectly said my friend.
Its easier to make money through buyingband selling than producing goods.

The government is just looking for easy means of getting money to spend and not what will benefit olthe country on long-term basis.

The chief culprit is indeed importation!

mercichoco:
Thats a good improvement.
btw the post above hates goodnews

Naira never bounced up . The Elections in the US made the dollar nose dive across the world . Do not keep ur hopes up we have silly economic leaders who don't give a tuss about Nigeria.

This is a good news,the recession is really affecting many people especially the lower class.I know the dollar is going to drop very soon because of the aftermath of Trump's victory.

shadeyinka:


I am not happy with Nigerian economists because I believe that they leave the very simple economic theory to speak big economic grammers.

The size of an economy or its strength shouldn't be measured in terms of GDP for instant. It should be measured in relation to real production/ consumption ratio AND I said reap production to exclude exportation of natural resources.

Exportation of Natural resources gives a country foreign cash to spend at the expense of weakning the economy.

Real economy is all about adding value to commodities. In exportation of crude for instance, what value has been added?

If Nigeria in 2016 is behind Japan of 1920, there is a deep fundermental problem!

Real Production is the back bone of Economic strength.

[size=18pt]A consuming economy like Nigeria is no economy! We are living on lottery funds[/size]

So What exactly are you planning to produce? when the government said we should farm y'all went to town screaming Buhari is a dullard, mean while NO FREE TRANSFER OF TECHNOLOGY or have you not heard of NATIONAL INTELLECTUAL PROPERTIES?.
Ivory coast only produce cocoa and coffee go and see, yet food is the cheapest items in that country and their economy is buoyant.
Unlike a thieving country like Nigeria where dirty money and business are viewed as economic development.

shadeyinka:
Could it be that the Naira didn't appreciate but the apparent appreciation is due to depreciation of the Dollar?

The Dollar may just be reacting to the election going on in USA.

Nigeria has done nothing different to make her NAIRA appreciate in value!

Trump is on the verge of becoming president and the US dollar is plummeting . So yes you are right , Naira's appreciation is because of dollar's depreciation

7lives:


So What exactly are you planning to produce? when the government said we should farm y'all went to town screaming Buhari is a dullard, mean while NO FREE TRANSFER OF TECHNOLOGY or have you not heard of NATIONAL INTELLECTUAL PROPERTIES?.
Ivory coast only produce cocoa and coffee go and see, yet food is the cheapest items in that country and their economy is buoyant.
Unlike a thieving country like Nigeria where dirty money and business are viewed as economic development.

It takes planing and harnessing of the remaining national asset we have to change anything.

We have everything to produce hammers and trowels and head pans yet we import them and we turn around to say that no jobs exist for our engineers!

It is pathetic!

KingEbukasBlog:


Trump is on the verge of becoming president and the US dollar is plummeting . So yes you are right , Naira's appreciation is because of dollar's depreciation

I knew that that is the reason. Check the Nigeria economic forcast for today.

Naira appreciates against the dollar second day in a row!
SMH

shadeyinka:
Could it be that the Naira didn't appreciate but the apparent appreciation is due to depreciation of the Dollar?

The Dollar may just be reacting to the election going on in USA.

Nigeria has done nothing different to make her NAIRA appreciate in value!

@shadeyika you absolutely correct......Dollar went South-pole,reason the Naira is strenghthing....But lets hope it last after the election is over.SEE IMAGE

Firefire:



Buhary again... I will make 1$ = 1NGN...

Cry baby, show us your proof. At least I know you're educated even though I can't vouch for the quality of such education.

Pavore9:


In as much we need FDI, what stops us for example setting up a cottage processing centres where with a machine that is[b] less than N200k[/b] (which is not up to what some Nigerians spend on phones)that requires no electricity but will extract oil from tonnes of Avocado that wastes year in,year out instead importing avocado oil? Money is lying fallow amongst the political elites which is not being economically engaged. It is high time we engage what is around us and not think redemption will come from outside!

Like you said, it is less than N200k, you can also set it up as a citizen.

kings09:
Ok but let's not 4get, d target is #1 to $1

Yeah; in your little warped mind!

The same investor king that reported doom yesterday, smh

Truth234:


Like you said, it is less than N200k, you can also set it up as a citizen.

I am not presently on ground but through family l am into local production where the finished goods is being exported and earning Forex. As a citizen l have inspired many into Agriculture as the Agric section of NL can attest. Many who hitherto had no access to land have been growing crops in used sacks with good harvest courtesy of my knowledge transfer to them.....l am productive Citizen.

Pavore9:


I am not presently on ground but through family l am into local production where the finished goods is being exported and earning Forex. As a citizen l have inspired many into Agriculture as the Agric section of NL can attest. Many who hitherto had no access to land have been growing crops in used sacks with good harvest courtesy of my knowledge transfer to them.....l am productive Citizen.

That is really good, remain so.