Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,153,507 members, 7,819,838 topics. Date: Tuesday, 07 May 2024 at 02:09 AM |
Nairaland Forum / Nairaland / General / Politics / Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued (18283 Views)
"I Foresaw Kidnapping, Herdsmen Menace" β Fayose / I Supported Buhariβs Re-election, Because I Foresaw His Victory β Obiano / Avengers Adopt Atiku, Threaten A Crumbled Economy If Election Is Rigged (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by dettolgel: 1:55pm On Jan 30 |
solmusdesigns: Really where do you produce phone in Nigeria? Where do you produce motorcycle? Where do you produce material used in producing the clothes you are putting on? I forgot which company produces electronics in Nigeria? The tires for your car even your means of transportation? Bro the list of endless. 6 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Liamm(m): 1:55pm On Jan 30 |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Fiscus105(m): 1:55pm On Jan 30 |
GreatAchiever1: I biliv u re one of multitude who see Buhari as hero. Oga, the fact remains that our economy started plummet from time of oga Jonah, the clueless and got worse during the time of oga bubu the lifeless . The last time naija managed, at least by 60% effectively was during OBJ time. 1 Like |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Inspirer1: 1:56pm On Jan 30 |
Wowww Buhari was spot on with his reason why he won't float the Naira,,, let the current government do the needful cos despite the floating of the Naira and removal of subsidy they are still borrowing huge loans and things are even worse than before .. 2 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Bobloco: 1:56pm On Jan 30 |
Kay25: The current one isn't subsidizing, so where's the money? Stacked up in his personal bullion vans 5 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Creamypie(m): 1:57pm On Jan 30 |
solmusdesigns:Nigeria government is supposed to be for Nigerians living in Nigeria 3 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Inspirer1: 1:58pm On Jan 30 |
dettolgel:I wonder o, Moreover if all those he mentioned earn in dollars, what's their percentage to other Nigerians who don't, would he rather enrich those few and make several others suffer like it is happening now? 2 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Angelfrost(m): 1:58pm On Jan 30 |
Guy, Buhari was heavily subsidizing the bloody currency. The clueless clown was propping it up with loans, hence making it look like it wasn't falling. Why didn't he make efforts to diminish dependence on the Dollar?!! Why didn't he push policies that would diminish importations, and enhance consumption of locally made goods. Why didn't he set examples by using hospitals here in Nigeria, and banning elected and appointed officials from accessing Dollars to travel abroad?!! Buhari failed woefully! Tinubu is merely drowning in the mess the Daura clown left behind. 4 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by rayopt(m): 2:02pm On Jan 30 |
This thing is difference of ideology, which is normal in politics all around the world. Buhari is a conservative. He prefer slow growth in the form of defend the naira, while slowly encouraging local production and ending importation. The naira was stable but didn't we see the negative effects of this on importation? Tinubu is a progressive. He prefers radical change for long-term benefits. He did not limit importation but allows naira to compete freely on international market. Local producers will gain but consumers of international products will continue to suffer. Unfortunately, most of us consume so much international products. Any which way, it is a long ride and I hate to criticize anybody because I honestly don't have the answers to Nigeria problems. Most of yall don't. Una only sabi to complain. One thing I know is this: any smart person who earn some dollar, farm majority of his food, and reduce buying international products will live like a king right now. 6 Likes 1 Share |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by IVORY2009(m): 2:03pm On Jan 30 |
Soxcar: scammer |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Afonja007: 2:04pm On Jan 30 |
solmusdesigns:i heard that i phone 15 and power bank bettery are manufactured in ekiti state 4 Likes 1 Share |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by GreatAchiever1: 2:04pm On Jan 30 |
Fiscus105: You are very wrong at the bolded, I admit that I don't know much about the Nigerian politics but from the little I know, I can say Nigeria was under management during OBJ and GEJ era, things started getting really scary from Buhari tenure, now I don't even know where Nigeria is going again. 2 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by EdiskyHarry: 2:06pm On Jan 30 |
It's sad, I was thinking buhari will go down as the worst president of all time in the history of Africa, not knowing I was wrong. My only happiness is " irrespective of your tribe, religion, political party or state, we are all in this together. 2 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Devil1Messenger: 2:06pm On Jan 30 |
solmusdesigns:ur point is senseless the effect of all these is that what u bought 600 when dollars was 600, is more than double now. 3 Likes 1 Share |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by bdon123(m): 2:07pm On Jan 30 |
solmusdesigns:Sorry we produce wat exactly? 1 Like |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Angelfrost(m): 2:08pm On Jan 30 |
rayopt: You don't have a strong and effective price regulation or regulatory system in your country...! Implication?!! Even prices of locally made goods are soaring through the roof. The producers and sellers of these products are impacted by Dollar indirectly, and adjust their inflation effects by adding more than necessary to their prices... This coupled with the inherent greed and wickedness of an average Nigerian. Haven't you noticed that the price of locally made rice is almost keeping pace with the Asian variety?!! 2 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Greenback: 2:09pm On Jan 30 |
Buhari did more harm than good to Nigeria for all the years he lived on and lived off Nigeria,not a single positive thing the country benefited. Is it how he worked against Nigeria in then OAU secretary general position where he sponsored and voted for a Fulani candidate from Niger as against the Nigerian from the south who was acting secretary general? Is it how he frustrated Lagos mono rail project in the 80s? Is it his austerity measures when he was military head of state? Someday, somebody will author a book that will reveal the evil man who rode Nigeria all his life. Hmmmm....we thought you were gonna take seun to court,what happened nah ππππ Everyone should know that op is same person as that omenka guy threatening Seun Cc omenka1 jmoore greatachiever1 seguno2 emeka125 alhajicso bebigiby1 seeWahala thatigboman egoveen obaofpigs yewit37486 2 Likes 2 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Error401: 2:10pm On Jan 30 |
I dont know if the figure is right or wrong. but dollar was only about 216 in GEJ and ended at 700 with Buhari, its now 1462 on Binance at the moment, almost 1500. Whatever he wrote may not be accurate but absolutely true. PassingShot: 2 Likes 1 Share |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Artscollection: 2:10pm On Jan 30 |
Judolisco: Ogbeni will definetly dwarf his record!!! 2 Likes 1 Share |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by seguno2: 2:11pm On Jan 30 |
PassingShot: If Buhari is too patriotic because of this exchange rate issue, then what do you think of Jonathan 3 Likes 3 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by emerged01(m): 2:13pm On Jan 30 |
There is nothing Buhari has done better. We are in this mess because of Buhuri. Injection of dollars is temporary measure. His administration injected $1.5b every month to maintain 600naira to dollar,the only difference is that this govt stopped injecting dollar. And Today if they start injecting dollar,naira will start getting value. 1 Like |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by bdon123(m): 2:14pm On Jan 30 |
seunlayi:Floating truly was a bad choice ...it should hav been delayed.u csnt remove subsidy n float same time....dats 2 nuclear bombs...nothing will survive. Before floating ,we should hav been self sufficient in producing oil products to ease demands on fx.also,religious financing wit fx such as pilgrimage should hav been stopped,rice production should hav stopped b4 floating.tinubu is doing d right tins bt at d wrong time.buhari is still worse than tinubu bt tinubu is on his way to be worse than buhari 1 Like |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by DeTruthh: 2:14pm On Jan 30 |
So far, APC and Tinubu are the worst things to have happened to Nigeria. |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Error401: 2:15pm On Jan 30 |
It does, regardless, you still have more purchasing power for non perishable good. A land which sell for 500k when dollar is about 600 will sell for maybe 600-700k now. If you have 1000USDT as at then, you can only buy a plot, now, you should be able to buy 2 plots of thesame land with thesame 1000USDT all things being equal. Not all items inflates with USD Tallesty1: |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by GeneralDae: 2:16pm On Jan 30 |
You are missing the point. The reason we owe 7 Billion dollars FX backlog today and also can't repatriate dollars to airlines was simply because we held on to that 465 naira for long while the street value ranged from 700 to even 900 naira. We couldn't give them their dollars at that 465 value we quoted. |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by loswhite(m): 2:16pm On Jan 30 |
PassingShot: |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by loswhite(m): 2:17pm On Jan 30 |
PassingShot:Shut up. Buhari is responsible for everything we are facing today. Where did he meet the naira? How many percent did it drop from? If a foolish person thinks dropping from 197 to 600 is not huge then you must be a bigger dunce. |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by rayopt(m): 2:17pm On Jan 30 |
Angelfrost: A country with little or no laws cannot have effective regulatory systems. Nigeria has many related problems oooo. Let's not act like this dollar thing is the only one. Me I don't even envy anyone that wants to be president. My own point is, rather than youths to continue complaining, they can take advantage of the naira fall and look for ways (legit ways) to earn dollars. |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Image123(m): 2:17pm On Jan 30 |
Like he said, and rightly so, LIVE WITHIN your means. Unfortunately, Nigeria has no means to defend its currency. We have over 200 million people to defend, and they are not like every other normal people. We have people who are more intelligent, corrupt, and rich than the average person in other countries. We have well-equipped bad actors ready to crumble the state for their own gains. The only textbook-available solution is to float the currency. Should the country borrow to defend the naira and leave other things unattended to? Like i have said many times, the government has to go HARD on BDCs, there is almost zero real monitoring of those activities in the banks and the money changers. Even Jesus drove those guys out. Either that, or you follow them bumper to bumper and see who blinks first. If the BDCs are more lucrative and enticing, the round-tripping will continue. |
(1) (2) (3) (4) (5) (6) (Reply)
Fuel Scarcity To Continue Till February 2016 - The Sun / Buhari Warns Ministers, Others Not To Disrespect The National Assembly / Umahi Condemns Killing Of 25 Persons By Suspected Fulani Herdsmen
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 59 |