accordadoga30:
"He said the naira will appreciate again but added that the appreciation might not happen until early parts of 2024".

We are confident naira will appreciate.

It's just a matter of time.

This is a bad news for the enemies of Nigeroa from one region.

Madness is doing one thing the same way every time but expecting a different result. Na so una talk for bubu time, but where did your optimism and positive remarks take the country to?

Won't this be as hard as restructuring Nigeria?. Dey play

accordadoga30:
"He said the naira will appreciate again but added that the appreciation might not happen until early parts of 2024".

We are confident naira will appreciate.

It's just a matter of time.

This is a bad news for the enemies of Nigeroa from one region.

Does the current economic woes regoconse a particular region? Except you just want to shake table

I have not read what is said by Oga Bismarck, because I know it's either a permutation of boom or doom .. either way until we learn to be deliberate about production in this country nothing will change ..Iphone 15 is out , I am sure cost of production might not exceed $50 but intellectual property is what is been charged.. and we have many great minds idling away .. we have to produce what the people of this world need anything less than that won't work.. Oyinbo people already producing different cars for the future base on electricity, so they are doing everything to make crude oil unpopular.Using the word Oligarchy is such a lazy way to apportion blame or find excuses for Government lack of long term template . . There are individuals who run companies bigger than our debts and reserves in the United State about ($150billion) , those individuals are not termed Oligarchs. Despite been an authority figure in economics , I do avoid reading your comments.

Ok

If the NGN is stable, foreign investors will come. For instance, imagine a foreigner invest 1usd in Nigeria when usd was 700, he converts this usd to NGN to run the business and he makes 100NGN as profit. Only for him to convert his 800NGN(capital+profit) back to USD when he wants to repatriate his funds and his 800NGN is currently not up to his initial investment of 1usd how will he come again.

Only people that send and receive diaspora remittance or people who save their monies in USD including the oligarchs will be happy with this constant increase in Naira.

Real foreign investors who have industries to set up, will be pissed off.

femisplash:
Sensible Nigerians know we must do things differently to achieve a better result, but wailers must wail.

Which result have u gotten so far

festacman:
This is the only useful thing Bismark Rewane said in that interview: "According to the economist, Nigeria needs to spend big on projects that increase productivity, block leakages, encourage people to invest, and ensure that the interest rate is close to the rate of inflation so that there will be equilibrium".

And I had expected him to come loud and clear on the need for President Tinubu to roll out his economic roadmap for reviving the economy of Nigeria. There is confusion at the moment and the economy is sinking deeper. These are worrying times for our dear country.

By the way for record purpose, Tinubu is an big oligarch and Lagos State is one his pies. Just saying ...

When I read the part where he said government has to allow market forces to determine the FX trajectory, I had to scroll back up to see how the man was described.

Is it not the same market forces determining the price of the dollar against the naira that has put us where we are today? The same policy Tinubu implemented about a week after his infamous subsidy removal remark?

Agreeably, government has to come clean. Leakages have to be blocked. The economy has to be deliberately removed from the grasps of a selective few elites, Tinubu inclusive. And there has to be massive local investment to boost local production, and even the monkey at Aso rock knows all of this.

But where is the political will to execute these initiatives?

I think so too

Oga, dont count on it. The more u look the less you see.

Which of dangote's projects has favored nigeria on balance. Nigerians still pay a lot of money for cement, sugar and salt. Dangote refinery will still sell products to NNPC in dollars. Or did you not recently hear that dangote is not interested in selling petrol to NNPC- because of the reintroduction of subsidy.

Would it be right for government to pay dangote subsidy when there are other refineries in the country ?

Do not count on it bro.. By the time CBN pays its current debt of about $10billion . The reserves will be diminished , the next thing is the search for loans from the IMF.

Nigeria story is long, do not place your trust on these charlatans.....

RepoMan007:
The possibility is there for Naira to bounce back to around N700 a dollar but I believe it is tied to Dangote refinery firing.

That's the only major import substitution we are about to witness that can spur the Naira on. No other mean in sight. Harvest has come and for the first time in history, food prices barely crashed. Too much money in the system means people are using the new found wealth to stock up from hinterlands and selling at massive profit that hides the crash in prices.

Before our N100 a post agents arrive to blame emefiele for printing money, remember, Tinubu once suggested to Buhari we print money during the covid crisis.

[quote author=accordadoga30 post=126033803]"He said the naira will appreciate again but added that the appreciation might not happen until early parts of 2024".

We are confident naira will appreciate.

It's just a matter of time.

This is a bad news for the enemies of Nigeroa from one region.[/quote

The naira will not magically appreciate if economic reforms are not implemented. If we continue to struggle with 5000MW and national grid collapse,banditry and kidnapping,if we don't keep inflation under control,the naira won't appreciate.

Contact me for your project work, seminar , Academic Assignment, Articles, Power points, Thesis, Proposals, Dissertations and also with good turnitin report!
emmanuelome96@gmail.com

Story. We don't need dishonest or compromised economists and other 'experts' with jaundiced opinions at this time.

We are in dire need of strictly patriots and statesmen who would be courageous and ready to state the blatant truths without using political correctness as cover.

If you're an 'economist' who can't address the elephant in the room, then shut the eff up and keep your stupid, unimplementable textbook ideas to yourself.

The disgusting thief and pretender in power whose 'legitimacy' begins and ends in the minds of Yorubas cannot be tolerated. You can't build something on nothing.

Waste of time

Like Russia like Nigeria

accordadoga30:
"He said the naira will appreciate again but added that the appreciation might not happen until early parts of 2024".

We are confident naira will appreciate.

It's just a matter of time.

This is a bad news for the enemies of Nigeroa from one region.

Are you people not tired of WILL?

bjdon:

Dangote is going to sell refined products in Dollars, so his refinery will not do anything to improve the strength of the niara

It will do something that will strengthen the naira. The demand for dollar will drop because dollar that's is currently being used to import petrol diesel and kerosene will be no longer be needed to import them. That means even Dangote sells for N1500 a litre, the naira will gain against dollar.

accordadoga30:
"He said the naira will appreciate again but added that the appreciation might not happen until early parts of 2024".

We are confident naira will appreciate.

It's just a matter of time.

This is a bad news for the enemies of Nigeroa from one region.

No be one of the people from that side predicted . Where did Nnwanebcomes from?

e dey jab Dangote be dat

Karemarealty288:



Chaugory Chaugory , Dangota, bla bla bla bla...

Is it the same Chagoury that is about to 'capture' the Federal Ministry of Works to build a private highway to El-dorado.
Nigeria, a Contractor's Paradise, a nation of vested interests, of secret deals and midnight rendezvous.
They have started flooding Abuja after a hiatus for the elections.
A different group this time.

Market can't determine pricing that's a fundamental flaw . The issue is reduce the need for forex by either 1) deliberately increasing the value of forex far above the black market price. Example 1$ equals N10,000, while black market is N1000. 2) fix the official rate of Naira to say $1 equal to N22 official gov price.
As at today the fed gov is the largest foreign exchange earner and as such has the power to fix it's selling price .
The idea is to discourage the dependence on $ transactions and limit frivolous foreign trips and imported finished products. While forcing investment in to local sourced row materials and Naira denominated transaction.
Let me explain better

First Nigeria has a potential market of 200million people this should be priced into currency value. 1) trade between nations have to be standardized via trade deals not just any how as it's currently done. Example Nigeria will trade with China at a fixed value of equivalent of $1 to N22 Naira. The deal will include crude swap for machinery and chemicals only. Furthermore, a trade deal with India at equivalent of $1 to N22 Naira for payment of machine, goods and wages of Indians in Nigeria.
Brazil can be another option with similar condition . Each of these countries will have something they get from Nigeria either in crude oil or raw materials to balance the trade deal and make such possible at the gov fixed price.
If we are lucky and United Kingdom agrees to this deal as well as the euro zone then we are good to go.

Well done, u are on point.

RepoMan007:
The possibility is there for Naira to bounce back to around N700 a dollar but I believe it is tied to Dangote refinery firing.

That's the only major import substitution we are about to witness that can spur the Naira on. No other means in sight. Harvest has come and for the first time in history, food prices barely crashed. Too much money in the system means people are using the new found wealth to stock up from hinterlands and selling at massive profit that hides the crash in prices.

[b]Before our N100 a post agents arrive to blame [/b]emefiele for printing money, remember, Tinubu once suggested to Buhari we print money during the covid crisis.

I don laugh tire

Mind you this trade deals are calculated in cash but no actual cash in involved . It is based on fixed or long term commitment.
If I want to buy a machine or chemical from China I will approach the bank with my Naira. The bank will inform central bank . The central bank will debit my Naira and include it in the stipulated trade volume forward to China which has been predetermined in the trade deal volume per year. Same will apply to India, Brazil and any country wishing to trade with Nigeria.
This will stop the practice of the Nigerian elite who try to convert any Naira they have in to dollars and transfer same to their foreign bank accounts .

You will ask me the question "how do companies repatriate their profit" the answer is simple . Since the federal government is the highest foreign exchange earner then can decide to sell each transferable $ at the rate of N10,000 to $. The translation of this is a foreign coy will have the option to buy the transferable gov $ at such a high rate or look for another investment that can be exported to earn their desired dollars .

This will prevent the practice of companies using flimsy excuses to request for dollars only to hide the dollars in foreign bank accounts .

Well, most of Nigerians population are economically poor, and earn less than a dollar. So no value to be priced into the currency. Nigeria has no competitive advantage compared to other countries. By competitive advantage I mean: infrastructure, security, stability (political). Nigeria is fantastically corrupt government officials and judges etc. No national unity. Government officials create fraudulent contracts, contracts with no chance of being successful, only for the sole purpose of cheating the country e.g.,P& ID. Look at our packages for previous governors and other officials.

Tinubu is not the man to change this country.

Countries that are these corrupt, with no respect for the rule of law, cannot move forward economically. Name one fatatistically corrupt country that is doing well ?

The rule of law, and managing the society is one area the west and successful contries do better than others.

Why should the west bring factories to Nigeria ? with all her issues the organizations that did learnt their lessons and left e.g., Peogeot, GSK , PZ, dunlop, michelin etc.
 
Mark this post, in the next four years dollars to naira will be more than 1,500NGN.

Mark this post.

skj1377:
First Nigeria has a potential market of 200million people this should be priced into currency value. 1) trade between nations have to be standardized via trade deals not just any how as it's currently done. Example Nigeria will trade with China at a fixed value of equivalent of $1 to N22 Naira. The deal will include crude swap for machinery and chemicals only. Furthermore, a trade deal with India at equivalent of $1 to N22 Naira for payment of machine, goods and wages of Indians in Nigeria.
Brazil can be another option with similar condition . Each of these countries will have something they get from Nigeria either in crude oil or raw materials to balance the trade deal and make such possible at the gov fixed price.
If we are lucky and United Kingdom agrees to this deal as well as the euro zone then we are good to go.

festacman:
This is the only useful thing Bismark Rewane said in that interview: "Nigeria needs to spend big on projects that increase productivity, block leakages, encourage people to invest, and ensure that the interest rate is close to the rate of inflation so that there will be equilibrium".

And I had expected him to come loud and clear on the need for President Tinubu to roll out his economic roadmap for reviving the economy of Nigeria. There is confusion at the moment and the economy is sinking deeper. These are worrying times for our dear country.

By the way for record purpose, Tinubu is an big oligarch and Lagos State is one his pies. Just saying ...

which roadmap again
He has decentralised power
Wetin remain, except maybe privatisation of ports which only aid more consumption anyway

festacman:
This is the only useful thing Bismark Rewane said in that interview: "Nigeria needs to spend big on projects that increase productivity, block leakages, encourage people to invest, and ensure that the interest rate is close to the rate of inflation so that there will be equilibrium".

And I had expected him to come loud and clear on the need for President Tinubu to roll out his economic roadmap for reviving the economy of Nigeria. There is confusion at the moment and the economy is sinking deeper. These are worrying times for our dear country.

By the way for record purpose, Tinubu is an big oligarch and Lagos State is one his pies. Just saying ...

You have been making sense these days and I had to like your comment.

So you have finally realised that Tinubu conquered and owned Lagos? Praise to God almighty.

Am glad I left Nigeria after I quarreled with you one time on this forum. My brother, travel to Switzerland and see heaven on earth.

Before I left obodo Naija, Lagos to Onitsha with GIG was 10k. I checked today on app ..... Blood of Jesus

30 Kpa

If am a business man, how much is my profit that I will spend almost 60k to and fro ? On road oo.

Nigeria is now in an "ike gwuru situation"

WesternPanzer:


You have been making sense these days and I had to like your comment.

So you have finally realised that Tinubu conquered and owned Lagos? Praise to God almighty.

Am glad I left Nigeria after I quarreled with you one time on this forum. My brother, travel to Switzerland and see heaven on earth.

Before I left obodo Naija, Lagos to Onitsha with GIG was 10k. I checked today on app ..... Blood of Jesus

30 Kpa

If am a business man, how much is my profit that I will spend almost 60k to and fro ? On road oo.

Nigeria is now in an "ike gwuru situation"

Why can't we deal only with nations that collect naira for imports, this IMF balance of payments nonsense, that mandates us all to pay for imports in dollars, only benefit the west, owners of IMF and world bank.

Morbeta11:


https://www.channelstv.com/2023/09/25/nigerias-economy-must-be-freed-from-oligarchs-interest-says-rewane/

Fake economist..

He once said the Naira will appreciate to 650 by December, now he has moved it to early last year.

NoneSense man..

Idiot!