phuck_NL:

What did the president do for me when he was in office.

MrCrackles:

I sent a get well card to him in Saudi Arabia. .

Sam Milla:

The same very thing Obasanjo, Babangida, Buhari etc Did for You.

He is our President.

phuck_NL:

Obasanjo did not do anything for me. But wait a minute, OBJ did not fall sick so i didn't have to do anything for him.
Babangida built the third mainland bridge that i use everyday before i can get to the island.
I don't know who buhari is. Don't care bout him
Yaradua has not impacted me in any way so y should i care. I am speaking for myslef and no one else

Sam Milla:

Ok all of a sudden IBB becomes the best President We have ever had.
Maybe You forgot that some stopped the massacre in Niger delta.

Increase in oil production does not benefit me either.

paddy_lo:

[b]increase in oil production,leads to increase in forex
this leads to a more stable macro-economic environment in the country and a steady and perhaps appreciating naira
that means inflation is tame. . .so it affects u

if u dont think so. . .look at zimbabwe,see what an unstable macro-economy looks like[/b]

paddy_lo:

increase in oil production,leads to increase in forex
this leads to a more stable macro-economic environment in the country and a steady and perhaps appreciating naira
that means inflation is tame. . .so it affects u

if u dont think so. . .look at zimbabwe,see what an unstable macro-economy looks like

phuck_NL:

Maybe it affects you. It definitely does not affect ME. I am speaking for myself okay.
FOREX ko ninja turtle ni.
We have always had oil so that is not news. More stable economic environment, sheesh, i laugh in NINJA ASSASSIN.
Increased oil prod. only means more money for cabals and nnpc buffons.

How i wish that was true, cos the last time i changed money, still bought $$ for 154 in |December when we have more yankee people around with more $$ in circulations . . . . .so your theory dont sound like a fact.

paddy_lo:

i am not talking only theory,but sound economics
the cbn has decided to keep the naira in a band around N150 plus or minus 3%
their ability to do this is a direct result of increased inflow of dollars

Maybe it affects you. It definitely does not affect ME. I am speaking for myself okay.
FOREX ko ninja turtle ni.
We have always had oil so that is not news. More stable economic environment, sheesh, i laugh in NINJA ASSASSIN.
Increased oil prod. only means more money for cabals and nnpc buffons.

phuck_NL:

FOREX ko ninja turtle ni.

paddy_lo:

i am not talking only theory,but sound economics
the cbn has decided to keep the naira in a band around N150 plus or minus 3%
their ability to do this is a direct result of increased inflow of dollars

Stop contradicting yourself. How does keeping the dollar at 150 help.
Nigeria is an import based economy. It pays us if the dollar is low, people will have more buying power. If we were japan, it would have made sense.
As it stands, things will only remain the same or become more expensive. In the case, i would have been affected negatively and not positively so your theory is out the door.

off topicin,this Paddy-lo why do i have a feelin i know you

paddy_lo:

foriegn exchange management is more about stability than where it is in an absolute form

for example u wouldnt want the naira too strong,because imports would flood nigeria

u wouldnt want it too weak because u have a sizable amount of goods imported,which would then cause inflation cause of the weak naira

so the ability to manage your currency and keep it stable is what matters

the CBN has said they want it in that band of N150 to a dollar. . .plus or minus 3%

its like the chinese yuan peg to the dollar. . .the chinese couldnt pull it off if they didnt have the reserves to back it up

same here

And you think 150 is the average, cos we dont want it too high, nor too low?
At 150, what do u think will happen to the price of commodity?

paddy_lo:

lets see did u go to university of abuja. . .or command secondary school in ipaja lagos?

cause thats were i went

yeah UniBuja,that's it with Nkem,Eboh, Charles Moze etc

paddy_lo:

its not what i think,its what the CBN thinks. .  . .
however,what that price stability does for u,is that it allows all the companies that are operating in nigeria to be able to plan 2 to 3yrs ahead
without having exchange rate risk. . for example dangote sugar announced a plan for upgrade to its factories to be able to produce 10million tonnes annually by 2013 or so
they can have a budget for this without worrying that the naira will spiral out of control

as for commodity prices,well all things being equal,they should be stable too. . .