richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Majesty7:


You just exhibited a very high level of ignorance. You quoted someone who is clearly way above you and you sound so stupid doing it. All these hawkers with android phones...

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Iamanoited:
Don't buy FOREIGN MADE. Buy locally made products. DIVERSIFY into agriculture. LET NIGERIA eat well FIRST.

Kukutente23:

I have been reading a lot of ignorant govt supporters claiming there is a policy to "kill" importation. Let me get you guys right. You want to kill importation but you hope to export abi. The other countries are fools abi. The machinery and equipment you will use to produce locally usually fall from the sky during rainy season abi? You guys are dumb.

Your god said yesterday that there is a plan to inject $10bn into forex to stabilize the currency and increase its value. How does that match the claim of you his supporters that there is a need to devalue or currency till we "kill" importation and purge ourselves of foreign goods longing? You are very dumb

Artiiclebeast:


And buy a Nigerian-made phone to keep making these sorts of senseless comments.

Even the politicians hoarding and fuelling the Dollar to Naira craze while selling you the dummy you keep regurgitating will be amazed at how you have been able to put a "better" senseless interpretation to their cluelessness.

Na wa

KingOfAmebo:






You people should be hired to defend the devil on judgment day, you will see reality facing you yet you keep looking for an excuse for the politicians that don't give a fvck about you.

What gains did the closing of borders bring when Buhari closed borders in the name of encouraging local production?

What gains did we see when Jonathan encourages us to buy local?

If we are to produce locally wont we import machinery and raw materials we don't have here abroad?

What happens to choices, Nigerians will chose an iohone over any locally produced phone because iphone is a global brand.

I don't even know how you guys use your brains sometimes.

Majesty7:


How I wish you can just be enlightened a bit. You would have shot yourself for this rubbish you commented.

Nigeria injecting another huge USD into the economy is to relieve people like you who shouts and groan like they are being killed for nothing! Nigeria is subsiding USD to ease frustration BUT that is not the normal thing to do. However, if they fail to do such, people will CRY! So, the country is just patching up

You are too dull

Purvan:
Your business should crash because you're not doing an essential business



How many people needs phone these days ??

Majesty7:


Oh my God! How can someone be this daft? The need (USD) must not be above earnings (inflow).

We will still be importing but the inflow must be way above the request. With that Naira will be strengthened!!!! Do we need to open your skull?

KingOfAmebo:


You need inflow, heck, why didn't you inform Tinubu before he blindly removed subsidy without a single working refinery and unified forex without scalping bureau de change? Seems you have agreed Tinubu goofed.

Your argument is so lame you forgot it has been in existence before you were born.

You empty skulls are way more disastrous than those in power.

Wainey:
So I am into importation of phones and selling it here in Nigeria, with the recent price hike in everything. My business is reaching a point where it's about to be closed, please what do I do?

Kukutente23:

What is the normal thing to do?
Pls enlighten me. You made it sound as if govt is doing the citizens a favour. Do you mean citizens or slaves

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Majesty7:


Now, you are getting it. THE GOVERNMENT IS DOING THE CITIZEN A HUGE FAVOUR. Subsidizing the USD for them and not allowing the USD to trade freely.

The real value of USD is way above #1k due to the huge request piling up. So, the government is doing the citizens huge favour.

Now, you should think of what can the government do to bring in more USD to cater for the needs of Nigerians. Then let's talk again. Thank you

Kukutente23:

Whose responsibility is it to retain the value of the naira?
You conveniently forget that it is not only the USD whose currency value has risen against the naira. The naira has fallen against ALL currencies including the CFA used by all our neighbors. In fact, it is the fourth worst performing currency in the African continent!
In light of above, explain to me again how the govt is doing the citizens a HUGE FAVOUR

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

fiyi:
Its not about who you vote for, its about the fundamentals. The fundamentals remain same irrespective. The last regime destroyed the fundamentals built from 1999 till 2014. Whoever is there now cannot do magic over night other than we bear the pain and enjoy tomorrow. For me, we should have a list of items that we should never ever be imported to our country. And yearly, we keep increasing the list. Its either we find a way to produce those items locally or we dont use those items. I tell you, in a decade we should start seeing sign of greatness has a country.

fiyi:
Its not about who you vote for, its about the fundamentals. The fundamentals remain same irrespective. The last regime destroyed the fundamentals built from 1999 till 2014. Whoever is there now cannot do magic over night other than we bear the pain and enjoy tomorrow. For me, we should have a list of items that we should never ever be imported to our country. And yearly, we keep increasing the list. Its either we find a way to produce those items locally or we dont use those items. I tell you, in a decade we should start seeing sign of greatness has a country.

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Majesty7:


It is the government responsibility to do that and Nigeria has always been lucky with bad leaders.

Secondly, the Naira can't be strengthened against the USD and other currencies if Nigeria are strangulating it by not adding value, producing and not 90% self reliance on foreign goods.

Euro and Pounds are higher than USD. You don't expect USD to raise in a place and then expect currencies which are naturally higher than USD be reduced. They have to be regulated as well hence other currencies.

If you want your Naira to improve, try to bring in more USD into the economy that will be atleast more than100% of what is being needed, with that, Naira will find it's value.

Secondly, the Naira can be devalued even if Nigeria are exporting so as to lure more exporters into the bringing more USD. Afterwards, Naira will now find it's place.

Nigeria's leaders are so greedy that they focus solely on oil without developing other areas. These lead to our self reliance on crude oil and thereby neglecting other factor. Now, that the earnings from crude oil can't satisfy 30% of our needs, what do we do?

Tinubu has not done any economy blunder. He is just trying to patch up what he meet on ground.

Naira will find it's place ONLY if we start exporting more.

Kukutente23:

I like the fact that you're honest enough to accept govt responsibility but I think you're misguided if you genuinely think Tinubu has not made economic blunders.

If you're a good student of history, you should ask yourself how come dollar to naira moved by just N150 from 1999 to 2015 but accelerated by over N500 from 2015 to 2023 and has accelerated further by another N500 in a space of few months under Tinubu.

Were we exporting more during the PDP years and immediately APC came in, Nigerians simply became lax and lazy and started importing while not exporting? This is a critical question to ask for any honest and sane mind.

Now, check my posts. I've always been against subsidy removal from the get go because our economy is petrol-run. It is a fundamental for us and if we don't have a substitute for the supply, it makes no sense to remove the subsidy.

Secondly, the idea of floating the naira is an IMF idea which NO developed or serious country entertains. The US devalues dollars and firms it up at will. Same for China. The idea of floating is harebrained. Currency is not a commodity. It's a store of value. There is no value you float that will not be debased.

You can try it with anything of value you have. Let's assume your phone is worth 500k in your estimation and you need 450k. Then you take your phone to a pawn shop or an auction. Do you really think you'll be able to sell it for even 400k? But if a buyer comes to you of his own will, you can even sell the phone for 600k.

The point of my analogy is that floating the naira was actually an euphemism for exposing it to all the market vagaries. This has led to what we have now and the dollar you're claiming govt is pushing into the market is to reflate it after seeing the terrible effects of the floating experiments.

So it's not about imports and exports. As a matter of fact, according to NBS data, we exported more and imported less in the 2nd quarter of this year. How do you now explain the falling value of naira against ALL other currencies in light of that fact?

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

richmond500:
This is not about APC, this is about understanding the economics and accepting a better country.

Don't think every comment on NL is political, religion or ethnic

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

maxtrix:
kcprince
Would you still advise someone to go into gas businesses in our today Nigeria, I meant build a plant for retail service, in respect to economic policies and exchange rate.

Majesty7:


You are still not getting it.

The demand kept growing over the years and Nigeria kept cushioning the effect using their earnings from the sales of crude oil.

Now couple with the fact that the government is corrupt, most of the parastatals leaders indulged in arbitrage. Nigeria was subsidising USD and pushing the price down using their own money at the official window and giving few people privileged to access it and thereby reselling at the parallel market.

The more you look the less you understand.

Tinubu stopping all these, he will have to devalue the currency so that it can be a little at par with the street value because if they don't, they will keep spending more money to subsidize it so as to keep the fake value.

I don't like Tinubu and he is not my candidate but I will keep saying he is the BEST out of the trio. He understands there is a problem and wants to tackle it.

No problem. Wish you luck

pendusky:


Just vote right next time