Drkingjames:
I don't think devaluation is a move in the right direction

Vortex369:
There will be Global Depression and Recession in 2020.

Relocate to the nearest villages and grow your own food.

It will be worse. Because all Sovereign Savings and External Reserves will be zeroed and US Debts, written off.

You will drink your oil and Fulanis will hoard their produce.

ednut1:
Nexxxxt level suffering.

mistijude:
Prophetess of doom

itsme01:



Buhari wouldnt dare.. but then again it is his last term and he seem to be unpredictable

a subsidy would die a natural death when Dangote refinery becomes functional, we can simply rich an agreement on crude oil swap for refined products and save scarce forex



..

Drkingjames:
I don't think devaluation is a move in the right direction

risos:
Really depressing to know PMS imported on subsidy is sold outside our borders. Kudo to the federal government on the border control.
Bloody criminals everywhere.

itsme01:



Buhari wouldnt dare.. but then again it is his last term and he seem to be unpredictable

Subsidy would die a natural death when Dangote refinery becomes functional with the modular refineries springing up and the NNPC refineries working to atleast 50% installed capacity, we can simply rich an agreement on crude oil swap for refined products and save scarce forex

The truth about devaluation is if we can fix Power and get Ajaokuta steel plant running to service industries, we wouldnt be needing dollars as much as we do

..

mrvitalis:

What do the Fulani's produce ?
Middle belt and hausa never talk na Fulani ...even goat and cow na from Niger

badman007:


I think Ajaokuta steel is a fools mission.

Why has Almangiri cabal government failed to simply refine our oil?

mistijude:
Prophetess of doom

She's not a prophet of doom.

I've come not to expect good news from this shit hole

nextstep:


I would agree.... devaluation (or undervaluation) helps countries that export value-added products (e.g. manufactured goods). However price of oil (which is the largest commodity we use to obtain dollars) will not change based on our Naira, yet we will need more Naira to pay for imports.

Because imports become expensive, locally produced goods will also become more expensive: even a toothpick seller will have to increase their prices so they can in turn pay for (imported) tshirts (a contrived example, but not too far off).

Devaluation has not once helped the Nigerian economy, in my opinion.

What individuals should do is save as much as they can, ideally into dollar accounts to hedge against devaluation and inflation. Spend as little on extravagant expenses this season.

How easy is it to convert a savings to a domiciliary?

Aldous4:
Na wah ooo

Aldous4:
Na wah ooo

Bighead9:



What does the South East contribute to the economy? As it stands now, all the Region's contributes alot to the economy except, the South East. This simple implies that, the South East is a parasite Region.

itsme01:



Buhari wouldnt dare.. but then again it is his last term and he seem to be unpredictable

Subsidy would die a natural death when Dangote refinery becomes functional with the modular refineries springing up and the NNPC refineries working to atleast 50% installed capacity, we can simply rich an agreement on crude oil swap for refined products and save scarce forex

The truth about devaluation is if we can fix Power and get Ajaokuta steel plant running to service industries, we wouldnt be needing dollars as much as we do

..