zeuss:
Let a business man like obi take charge and we will see real growth

An IGBO man like Peter Obi is the CBN Governor. His incompetency cause us all this.

That's why IGBO can never rule this our beautiful Country.

Kasssandra:


The problem with Nigeria, and most of subsaharan Africa is not the exports...but the type of export.

We are not exporting manufactured goods. We export raw materials...whose prices we do not control.

EG...we export crude. We need crude at 140 dollars per barrel to sort out all our money needs. But if we unilaterally raise the price to 140 dollars per barrel...our buyers will go and buy from other countries that are selling at the current, much lower, price, and we would be left with nothing.

We also spend a lot on subsides. The thing is, keeping prices of fuel low means that the more the cost of producing fuel rises, the more the cost of the subsidy...the more it eats into our budget.

The above is why we are poor, and why most subsaharan African countries are poor. Meanwhile countries that are rich..like China, Japan, and so on export.....manufactured goods...and have strong currencies.



Saudi has a strong currency...but they produce ten times more oil than we do., and have 40m people. But they spend a lot of excess dollars keeping their riyal strong. One year they ran through 600bn dollars just to keep their riyal strong....

as far spectators and BDC is hoarding dollars. naira will continue to fall eternity no amount of English will salvage it. the recent increase is due spectators. so shelve that ur narrative away. why is Franco phone countries currency stable why nigeria naira is falling. do they have more exports than us. nigeria is top 5 exporting country in Africa.

@op what are you producing that can generate dollar in exchange for Nigeria?.
You are one of the liability that's affecting the Naira I'm not sure if it will be well with you like this o

If Apc people dies grave must reject them

Kasssandra:


It won't solve the real problem...we are not earning enough forex to buffer the naira.

A lot of our forex is going to debt servicing, and subsides. And keeping our forex reserves uptight.

why is immediately CBN announced change in denomination of our currencies note everything thumbles. who buys the dollar is it not spectators. who hoard the dollar to create the scarcity is it not BDC.

okeysoninv:
as far spectators and BDC is hoarding dollars. naira will continue to fall eternity no amount of English will salvage it. the recent increase is due spectators. so shelve that ur narrative away. why is Franco phone countries currency stable why nigeria naira is falling. do they have more exports than us. nigeria is top 5 exporting country in Africa.

Leave speculators. At the end, we have to earn enough dollars. Removing speculators would just be basically playing a game of pretending. At the end, we have to earn more dollars, or save more dollars .

I don't like the main candidates for next year;s election because none of them, apart from the usual plattitudes, have come out to say that,...we need to do X to make more money (Obi is the most sane for now, tho).

Okoroawusa:
No Jupiter will stop me from voting Bola Ahmed Tinubu in 2023

You are quite right about this because God is bigger than Jupiter and Jupiter hasn't stopped anyone From voting

Okoroawusa:
No Jupiter will stop me from voting Bola Ahmed Tinubu in 2023

Kasssandra:


No, our APC government caused this.

If Buhari had

1.Removed subsides compeltely in 2015...which would have allowed investment into domestic refining to flow in.
2.privatised NNPC in 2015
3.Raised our tax to gdp ratio to 20% or more
4.Removed price controls on the power sector...

The naira would have been stronger.

The CBN Governor is the one managing the Economy. He came in as CBN Governor when Sanusi who is from the almighty NORTH, maintain the naira at less than #200 to dolars. Since the incompetent CBN Governor assumed office, naira has been loosing value on daily basis

What happen to our president sacking him??

shortIGBOman:
That IGBO man who is the present CBN Governor caused this.

okeysoninv:
why is immediately CBN announced change in denomination of our currencies note everything thumbles. who buys the dollar is it not spectators. who hoard the dollar to create the scarcity is it not BDC.

Changing currency has always happened in our history....we had it in 1984, 1991, 1999, 2006, and 2014. We were long overdue.

Again, you want a stronk naira...you have to earn more dollars. Forget speculators. Hoarding is as a result of the already present scarcity of dollars.

I can never vote APC

shortIGBOman:


An IGBO man like Peter Obi is the CBN Governor. His incompetency cause us all this.

That's why IGBO can never rule this our beautiful Country.

The CBN man is following the APC plan...PETER OBI will definitly make a positive change....the old order will fail you. Tinubu and Atiku will not help lonely tribalist

Kasssandra:


Leave speculators. At the end, we have to earn enough dollars. Removing speculators would just be basically playing a game of pretending. At the end, we have to earn more dollars, or save more dollars .

I don't like the main candidates for next year;s election because none of them, apart from the usual plattitudes, have come out to say that,...we need to do X to make more money (Obi is the most sane for now, tho).

you don't know what your saying. as far people that don't dollar continues to buy naira will continue to fall. CBN must kill spectators and BDC you will see naira exchanging for 445. importers are not the cause of naira fall.

shortIGBOman:


The CBN Governor is the one managing the Economy. He came in as CBN Governor when Sanusi who is from the almighty NORTH, maintain the naira at less than #200 to dolars. Since the incompetent CBN Governor assumed office, naira has been loosing value on daily basis

SLS was also operating when

1,We had a large forex savings...most of which came from the glorious year of 2008, when oil prices rose as high as 145 dollars per barrel....

2.Between 2011-4, we had more and more dollars from high oil prices...sometimes reaching as high as 100-130 per barrel for months.

3.In 2006, we paid off our debts. While we were taking loans in 2009 again, our debt by then was not as high as it is now...when Sanusi was in charge.

4.Even then, the naira was depreiciating ...in 2009 it was N145 to one dollar...by 2014, it was nearly N200 per dollar. The high crude oil prices in between and the spending of money from our forex reserves kept the slide from being more severe than this .

Kasssandra:


Changing currency has always happened in our history....we had it in 1984, 1991, 1999, 2006, and 2014. We were long overdue.

Again, you want a stronk naira...you have to earn more dollars. Forget speculators. Hoarding is as a result of the already present scarcity of dollars.

how much is cfa countries earning . the people can fool you not us .

okeysoninv:
you don't know what your saying. as far people that don't dollar continues to buy naira will continue to fall. CBN must kill spectators and BDC you will see naira exchanging for 445. importers are not the cause of naira fall.

And like I said, hoarding results as a response to an already existing scarcity....which is what is happening in Nigeria...and has been happening for decades...that is why naira is not N1 to $1 as it was in mid 1978.

What we need is a government that would earn us more dollars...because even at your magic rate of 445 to one dollars, that is a bad performance..especially since the naira was N199 to one dollar in 2014.

The day we earn more dollars as a producer nation is the day the naira becomes strong. stopping speculatiors is just merely putting lipstick on a pig and pretending it is a beauty queen. It's still a pig.

okeysoninv:
how much is cfa countries earning . the people can fool you not us .

CFA countries are in the same boat with us. If you think their currency is strong...it isn't.

The only reason why it is strong is because half of the forex reserves of the CFA countries is kept with the French, who control how it is disbursed.

CFA is not a strong currency. Or why isn't Germany, UK and USA using it as a reserve currency...like the Euro?

Kasssandra:


And like I said, hoarding results as a response to an already existing scarcity....which is what is happening in Nigeria...and has been happening for decades...that is why naira is not N1 to $1 as it was in mid 1978.

What we need is a government that would earn us more dollars...because even at your magic rate of 445 to one dollars, that is a bad performance..especially since the naira was N199 to one dollar in 2014.

The day we earn more dollars as a producer nation is the day the naira becomes strong. stopping speculatiors is just merely putting lipstick on a pig and pretending it is a beauty queen. It's still a pig.

there is no scarcity. nigeria is a top exporting country in sub Saharan Africa. our foreign remittances is highest in Africa. how much is cfa countries exporting annually you refused to answer.

okeysoninv:
there is no scarcity. nigeria is a top exporting country in sub Saharan Africa. our foreign remittances is highest in Africa. how much is cfa countries exporting annually you refused to answer.

1.Nigeria is also spending more and more on debt servicing and subsides...which is why folks like SLS are raising alarm

2.CFA franc is a poor currency. Export volume is irrelevant...most CFA countries are as poor as we are.

P.S : Read this before you quote me again...An uncompromising criticism of the CFA franc.

Kasssandra:


CFA countries are in the same boat with us. If you think their currency is strong...it isn't.

The only reason why it is strong is because half of the forex reserves of the CFA countries is kept with the French, who control how it is disbursed.

CFA is not a strong currency. Or why isn't Germany, UK and USA using it as a reserve currency...like the Euro?

you don't know what your saying byee. cfa is even stronger than naira since beginning of Buhari regime.

okeysoninv:
you don't know what your saying byee. cfa is even stronger than naira since beginning of Buhari regime.

It isn't. And you know it. It is just about the same or worse than ours.

The thing is, no African country has a strong currency.

P.S And stop shifting the goalposts.

Kasssandra:


SLS was also operating when

1,We had a large forex savings...most of which came from the glorious year of 2008, when oil prices rose as high as 145 dollars per barrel....

2.Between 2011-4, we had more and more dollars from high oil prices...sometimes reaching as high as 100-130 per barrel for months.

3.In 2006, we paid off our debts. While we were taking loans in 2009 again, our debt by then was not as high as it is now...when Sanusi was in charge.

4.Even then, the naira was depreiciating ...in 2009 it was N145 to one dollar...by 2014, it was nearly N200 per dollar. The high crude oil prices in between and the spending of money from our forex reserves kept the slide from being more severe than this .

There was large forex when Sanusi left. But this IGBO CBN Governor mismanaged our external reserves and all the forex available. Today his incompetence has brought us to where we are now.

okeysoninv:
you don't know what your saying byee. cfa is even stronger than naira since beginning of Buhari regime.

1.cfa franc is 0.67 nigerian naira.

Because agbado is busy buying dollars to give bribe, creating dollar scarcity thereby making it higher than the Naira. Why can't this man give bribe in Naira? And he wants to save Nigeria.

shortIGBOman:


There was large forex when Sanusi left. But this IGBO CBN Governor mismanaged our external reserves and all the forex available. Today his incompetence has brought us to where we are now.

1.No, the forex reserves were depleted because a) we had to pay for subsides b) corruption.

2.At any rate, forex was as low as 28 bn in 2015, and 38 bn by 2017, 40 bn last year, 38 bn this year. Hasn't been bad for a man who faced very low oil prices till December last year. Also, forex was as high as 60bn in 2010.

zeuss:


The CBN man is following the APC plan...PETER OBI will definitly make a positive change....the old order will fail you. Tinubu and Atiku will not help lonely tribalist

With how this IGBO CBN Governor mismanaged our Economy, we will never allow any IGBO Man rule this Country.

Kasssandra:

1.cfa franc is 0.67 nigerian naira.

hahahaha go and exchange it at seme .

fiizznation:
What will APC tell the masses when they start their campaigns? Are they going to tell Nigerians how everything has increased by about 300% or the insecurity that is still bedeviling the country, etc.

Not a good time, but politicians will always have what to tell people. It will be up to Nigerians to score APC.

May God help us!!!

a while you is critiquing APC.

Wow. God is good

okeysoninv:
hahahaha go and exchange it at seme .

buckeyemedia:
Sorry for the nation of lazy people with no innovation, waiting for petrol dollars from their central government.

As usual,You blame the masses ,call them lazy and exonerate the federal government.