You are completely ignorant about economics...
FDI has never been the reason for naira devaluation..
Go to school you will not go..
Simply use Google to get educated..
I hate buhari with all my heart...
But as an educated person and not one of this sentimentaland gullible ordinary Nigerian..it not buhari fault naira got devalued.. Our economy is completely dependent on oil..Covid 19 and the deep oil price fall in 2014 is to be Blaimed including the past leaders who didn't save enough Forex to defend the naira incase of incasity plus the fact that they dumped agriculture...
Even if Sowore or any respected individual be at that seat..they can only do little they will still be met with their faith ...
The only hope for Nigeria is to ban unnecessary import like rice..and ban fuel..
Also run back to agriculture or look for an alternative commodity to depend on..
And to some certain level this government has done some mediocre things to address it by focusing on agriculture, Interest in Gold and Gas...
Inshort gold and gas is the future of Nigeria not oil any more

jesmond3945:
as usual removing buhari from blame. Let me tell you what brought naira low; lack of Foreign direct investment. Nobody wants to invest in his govt when there are so many regulations every where and the regulation only favours the Northerners.

Tekrify:
You are completely ignorant about economics...
FDI has never been the reason for naira devaluation..
Go to school you will not go..
Simply use Google to get educated..
I hate buhari with all my heart...
But as an educated person and not one of this sentimentaland gullible ordinary Nigerian..it not buhari fault naira got devalued.. Our economy is completely dependent on oil..Covid 19 and the deep oil price fall in 2014 is to be Blaimed including the past leaders who didn't save enough Forex to defend the naira incase of incasity plus the fact that they dumped agriculture...
Even if Sowore or any respected individual be at that seat..they can only do little they will still be met with their faith ...
The only hope for Nigeria is to ban unnecessary import like rice..and ban fuel..
Also run back to agriculture or look for an alternative commodity to depend on..
And to some certain level this government has done some mediocre things to address it by focusing on agriculture, Interest in Gold and Gas...
Inshort gold and gas is the future of Nigeria not oil any more

you are just an empty container that makes loud noise. How much dollar and pounds do we need to defend our naira? Without huge fdi how do you think the Huge demand for dollar by an average Nigerian be met? Go and read history. When jona left, investors took their money and naira went from 200 per dollar 300 and something. Even if you ban rice and fuel what of Nigerians who study abroad? Do you know who much dollars and pounds they consume? Even if all the importation stop, the naira would still be devalued. All the middle eastern countries with oil dependent economy why is their currency very competitive, a country like kuwait. They have huge reserve due to over surplus fdi. Why do you think cbn lifted their embargo on dorm accounts so as to access remittances, immediately naira gained 5 naira just by announcement alone.

Tekrify:
You are completely ignorant about economics...
FDI has never been the reason for naira devaluation..
Go to school you will not go
Simply use Google to get educated..
I hate buhari with all my heart...
But as an educated person and not one of this sentimentaland gullible ordinary Nigerian..it not buhari fault naira got devalued.. Our economy is completely dependent on oil..Covid 19 and the deep oil price fall in 2014 is to be Blaimed including the past leaders who didn't save enough Forex to defend the naira incase of incasity plus the fact that they dumped agriculture...
Even if Sowore or any respected individual be at that seat..they can only do little they will still be met with their faith ...
The only hope for Nigeria is to ban unnecessary import like rice..and ban fuel..
Also run back to agriculture or look for an alternative commodity to depend on..
And to some certain level this government has done some mediocre things to address it by focusing on agriculture, Interest in Gold and Gas...
Inshort gold and gas is the future of Nigeria not oil any more

.the bolded is not accurate
The naira woes began to have footing when there was a mass exodus of FDIs and FPIs late 2015
Due to the climate back then
(Buhari taking too long to appoint ministers, plus some of his reckless moves then)
Nigeria is yet to recover FULLY from that
2016 we felt the brunt seriously
Lucky for us
There was some uptick in oil prices
Even that has not been enough

FDI isn't the reason weather u believe it or not...
Forget diaspora remittance...crude oil sales contribute 90 percent I repeat 90 PERCENT to our forex earnings..it has been like dat since 1980s ..go and use Wikipedia or world Bank to verify it...
This means that FDI plus diaspora remittance is almost insignificant compared to what crude oil brings to Nigeria.
Secondly...we spend over 15 percent of our entire Forex just to import fuel yearly... When u include the billions of dollars we used to Import wheat, rice and palm oil.. that has increased by over 25 Percent...
Look I can't be teaching u facts...all this things are on Google...use it..
We spend nearly 30 percent of our forex importing Rice, wheat, palm oil, fuel, and other petroleum products...does that make sense to u.. we have to ban all this things immediately to remove pressure on the Forex...and find other alternative resources like gold to begin exporting...

Look let me lay facts ..FDI isn't necessarily going be good news because when a white man comes to invest 10,000 by the time he makes his money back plus profit do u think he will leave it in Nigeria..he will take everything back..so don't even consider FDI..it better we invest in our country...

Secondly... Do u know what those other oil exporting countries did when oil crashed...
They simply released more billions to support their currency...this is exactly what Algeria did in 2014.. Nigeria did not fucking save anything when Forex was flowing in excess...we saved nothing..that is why immediately oil prices fell in 2014..less than 1 month CBN had to quickly devalue naira because they don't have enough Forex to keep it going...

I blaim GEJ and OBJ... especially OBJ

jesmond3945:
you are just an empty container that makes loud noise. How much dollar and pounds do we need to defend our naira? Without huge fdi how do you think the Huge demand for dollar by an average Nigerian be met? Go and read history. When jona left, investors took their money and naira went from 200 per dollar 300 and something. Even if you ban rice and fuel what of Nigerians who study abroad? Do you know who much dollars and pounds they consume? Even if all the importation stop, the naira would still be devalued. All the middle eastern countries with oil dependent economy why is their currency very competitive, a country like kuwait. They have huge reserve due to over surplus fdi. Why do you think cbn lifted their embargo on dorm accounts so as to access remittances, immediately naira gained 5 naira just by announcement alone.

FDI isn't the reason weather u believe it or not...
Forget diaspora remittance...crude oil sales contribute 90 percent I repeat 90 PERCENT to our forex earnings..it has been like dat since 1980s ..go and use Wikipedia or world Bank to verify it...
This means that FDI plus diaspora remittance is almost insignificant compared to what crude oil brings to Nigeria.
Secondly...we spend over 15 percent of our entire Forex just to import fuel yearly... When u include the billions of dollars we used to Import wheat, rice and palm oil.. that has increased by over 25 Percent...
Can u believe we even import maize..like WTF..
Look I can't be teaching u facts...all this things are on Google...check it..
We spend nearly 30 percent of our forex importing Rice, wheat, palm oil, fuel, and other petroleum products...does that make sense to u.. we have the capacity to turn this things around since 1999 but OBJ was not worried...now u see why buhari is busy rushing it

we have to ban all this things immediately to remove pressure on the Forex...and find other alternative resources like gold to begin exporting...

Look let me lay facts ..FDI isn't necessarily going be good news because when a white man comes to invest 10,000 by the time he makes his money back plus profit do u think he will leave it in Nigeria..he will take everything back..so don't even consider FDI..it better we invest in our country...

Secondly... Do u know what those other oil exporting countries did when oil crashed...
They simply released more billions to support their currency...this is exactly what Algeria did in 2014.. Nigeria did not fucking save anything when Forex was flowing in excess...we saved nothing..that is why immediately oil prices fell in 2014..less than 1 month CBN had to quickly devalue naira because they don't have enough Forex to keep it going...

I blaim GEJ and OBJ... especially OBJ

CBN gave special license to dangote BUA and other companies to export their goods...the reason why buhari don't want to open that bother is because ones he does u will see our Nigeria especially my Igbo brothers will rush to go and import many things...

This is why dey had to give some companues favour to export goods in order to atleast bring some Forex to Nigeria...it very simple

DexterousOne:

.the bolded is not accurate
The naira woes began to have footing when there was a mass exodus of FDIs and FPIs late 2015
Due to the climate back then
(Buhari taking too long to appoint ministers, plus some of his reckless moves then)
Nigeria is yet to recover FULLY from that
2016 we felt the brunt seriously
Lucky for us
There was some uptick in oil prices
Even that has not been enough

Tekrify:
FDI isn't the reason weather u believe it or not...
Forget diaspora remittance...crude oil sales contribute 90 percent I repeat 90 PERCENT to our forex earnings..it has been like dat since 1980s ..go and use Wikipedia or world Bank to verify it...
This means that FDI plus diaspora remittance is almost insignificant compared to what crude oil brings to Nigeria.
Secondly...we spend over 15 percent of our entire Forex just to import fuel yearly... When u include the billions of dollars we used to Import wheat, rice and palm oil.. that has increased by over 25 Percent...
Look I can't be teaching u facts...all this things are on Google...use it..
We spend nearly 30 percent of our forex importing Rice, wheat, palm oil, fuel, and other petroleum products...does that make sense to u.. we have to ban all this things immediately to remove pressure on the Forex...and find other alternative resources like gold to begin exporting...

Look let me lay facts ..FDI isn't necessarily going be good news because when a white man comes to invest 10,000 by the time he makes his money back plus profit do u think he will leave it in Nigeria..he will take everything back..so don't even consider FDI..it better we invest in our country...

Secondly... Do u know what those other oil exporting countries did when oil crashed...
They simply released more billions to support their currency...this is exactly what Algeria did in 2014.. Nigeria did not fucking save anything when Forex was flowing in excess...we saved nothing..that is why immediately oil prices fell in 2014..less than 1 month CBN had to quickly devalue naira because they don't have enough Forex to keep it going...

I blaim GEJ and OBJ... especially OBJ

did you watch dino melaye on the floor of the senate
https://www.nairaland.com/6291686/dino-melaye-predicted-one-dollar
And did you read this news item
https://www.nairaland.com/6292454/naira-bounces-back-appreciates-n470#96656799

MyVILLAGEpeople:




Abeg who sing this one and what's the title

Ask google lolz

Why nairaland no update ooo

Just wanted to tell you I followed your advice and opened a dom account yesterday. Yay!

jesmond3945:
go to your bank

ibinaboonline:
Just wanted to tell you I followed your advice and opened a dom account yesterday. Yay!

good