₦airaland Forum

olujastro:
It's due to the fixed exchange rate system Nigeria operates as opposed to a floating exchange rate system determined by supply and demand of fx in the market.
If we had a floating system, the naira would probably gain a little against the USD when we have better fx inflows and reserves. But with a fixed system, the naira falls in bad times and doesn't rise in the good times from historical charts.

Emir of Kano criticises Buhari over exchange rate policies

- Emir of Kano, Lamido Sanusi has accused President Muhammadu Buhari of encouraging corruption with his exchange rate policies
- Sanusi said the president’s anti-corruption stance was totally inconsistent with the foreign exchange regime he supported
- Sanusi is a former governor of the Central Bank of Nigeria (CBN), and has been consistent in his contributions to the polity especially as regards the Nigerian economy

Emir of Kano and former central bank governor, Lamido Sanusi has accused President Muhammadu Buhari of encouraging corruption with his exchange rate policies.

Read more: https://www.naija.ng/723214-emir-kano-criticises-president-buhari-exchange-rate-policies.html#723214

waveman2:
Pls I need a good economist is the house to explain how and why this increase in foreign reserve /low import is not translating to a appreciation of value of the naira to a dollar. I think corruption is at its lowest point, import have drastically reduced, we have a better balance of trade we should be looking at our $1 to N200 .pls I, m a novice so just explain. Thanks

Why is no one asking why we are in recession despite budgets as follows:

2015 - N4.5 trillion
2015 - N2.1 trillion supplementary requested / N575 billion approved
2016 - N6.06 trillion
2017 - N7.3 trillion


Sources: http://www.reuters.com/article/nigeria-budget-idUSL5N0YB49M20150520
http://dailypost.ng/2015/11/18/buhari-seeks-n2-1trn-supplementary-budget-for-2015/
http://www.vanguardngr.com/2015/12/senate-approves-n575bn-supplementary-budget-for-buhari/
http://www.vanguardngr.com/2016/05/buhari-signs-n6-06trn-2016-budget-change/

usba:
Do you even understand percentage? Please comprehend first before jumping to defend a the huge disappointment Jonathan turned out to be. FG owned 56% of the money why couldn't they save theirs?

Duru009:
Its obvious Nigerians need a change but who can bring that change !

Doyin2:
They are being deceived by ridiculus expections.

They had forgotten that the oil price is just recovering or perhaps they believe it was Buhari that transformed Nigeria into a petrol importing country.

The learned on economic matters are few and we cannot be swept away by the misguided tide of wailers.

The comparison of a 2yr plus APC govt,with a wasteful 16yr PDP govt, is crazy and very stupid!

niyi20:
Fine Buhari is really fucking up GEJ wasn't a good choice at all.. ..We need a new candidate in 2019 not Atiku please

sekxy:
afonja has turn to wailers

sunkieisland:
No one of the Kingdom fights another member of the same Kingdom........

If these Area FADA and Daddy FRZ so to speak are from Zion, then they shouldn't go around discrediting Men of God..........

They should just teach the Truth of God's Word and leave the judging to God. Instead of pointing fingers at men.......

A kingdom divided against itself cannot stand.............


Many Christians are being led astray by Daddy FRZ's teachings. I just hope it wont be late for some people this year to repent....

ChidiAlaigbo:
Dont worry, Buhari will personally bring you and your family food to eat. Shebi that is what you expect.
5% counts for nothing !!!

newslinkngr:
President Muhammadu Buhari has again declared his love for people of the South East.
Buhari made the declaration while decrying his alleged hatred for the region.

He said “mischief makers” were behind the claim.

He spoke Amegu Ikwo Local Government Area of Ebonyi State during a special empowerment programme for widows.
Buhari was represented by the Executive Director in charge of Administration/Training, Nigeria Television Authority, Dr. Steve Egbo.
Read more: http://www.newslinkngr.com/2017/12/i-love-igbos-i-would-remain-friend-to.html

usba:
I am sorry to say most of you don't have critical analysis skills. A lot of people will take a mortgage to buy a house in essence borrowing beyond their immediate capacity to pay, hence loans are take to undertake purchase that are usually beyond your capacity to pay in one sitting but will be paid when spread over a period of time. Nigeria wouldn't need to borrow if Jonathan had saved his 56% portion of the ECA.

anonimi:
Tinubu Tackles FG, CBN On Excess Crude Oil Sales Account
Feb 22, 2001




https://www.osundefender.org/wp-content/uploads/2013/09/TINUBU.jpg




The Lagos State Governor, Senator Bola Ahmed Tinubu, yesterday joined issues with the Federal Ministry of Finance and the Central Bank of Nigeria (CB N) over the recent face-off between the different tiers of government on the excess crude oil sales reserve account of US$ 1. 8 billion which is about N198 billion.

Expressing concern at the impression being created that the economy is rudderless, Tinubu argued that the central issue transcends the release or non-release of the fund into the Federation Account.

In his words: “The fundamental issues and principles at stake go much deeper. They are more broadly about the rule of law and the supremacy of the constitution on one hand, and the need for cooperation and coordination in a true federal structure, as a basis for sustaining and strengthening our fledgling democracy on the other hand”.

Governor Tinubu [size=14pt]disagreed with the CBN's position that release of the excess crude reserves to the states and local governments, though legitimate, [/size]would lead to inflation; cause a rundown of the nation's foreign reserves; weaken the exchange rate further and run counter to agreements reached with the IMF.

The Governor contended that "in a period of excess capacity and low purchasing power, there should not be undue inflationary pressures from an injection of funds into the economy. Instead, such a development should be beneficial to economic activity and growth, despite the fact that there are supply rigidities and inefficiencies which would limit the potential benefits”.

On the purported likely impact on foreign reserves, Tinubu argued that "in an import-dependent economy such as ours, it is inevitable that an upturn in the level of economic activity would engender a fall in foreign reserves. This is not necessarily a bad thing. Rather, it would be immoral to appear to be building up high foreign reserves in the midst of grinding poverty”.

He stressed further that if the N198 billion released is matched by an equivalent US$1.8 billion, there should not be a fall in the value of the Naira as the supply of dollars would be in place to match any increased demand”.

Tinubu also said it would be unfair for the federal government to agree unilaterally to commit revenues due to other tiers of government, to an agreement with the IMF or anyone else.

Attributing inflationary pressures in the economy largely to the federal government's overspending and printing of money to finance such expenditure, Tinubu said "It is hardly fair for the FGN to overspend and then seek to correct the inflationary effect on the economy by starving other tiers of government of their rightful funds”.

Stressing that there is no basis for CBN or any authority to flout the constitution and deny states and local governments their own share of the Federation Account, Tinubu noted that "the excess crude reserve account is itself an illegality, carried over from the military era, as there is no provision in the law or the constitution for federally - collected revenues to be diverted to such an account”.

Advocating constructive dialogue on the management of the economy Governor Tinubu said "it is time for us to sit down and dialogue about how to move from where we are now, to where we need to get to, while respecting true federalism in fiscal and other matters”.

From: http://asiwajubolatinubu.com/archives/news/2001/02/22/20010222N01.html

modik:
If only you could be generous enough to give us the percentage of CAPEX budget implementation since 2015 to buttress your infrastructural upgrade justification.
I guess the Aso Rock clinic has been equipped?

NgcoboP:
..The wife of President Muhammadu Buhari, Aisha, has followed the footsteps of her daughter, Zahra, by criticising the management of Aso Rock Clinic.

Zahra Buhari had last week taken to her Instagram page to criticise the Permanent Secretary of the State House, Jalal Arabi, for his inability to provide even Paracetamol tablets to the clinic despite a budget of N3 billion for the provision of drugs to the hospital.

Speaking Monday at a stakeholders meeting on Reproductive, Maternal, Nutrition, Child Advocacy and Health and Nutrition, RMNCAH+N, at the State House, Abuja, Mrs. Buhari said she recently fell ill and was advised to travel to London for treatment, but she refused.

“I called the Aso Clinic to find out if they have an X-Ray machine, they said it’s not working
“In the end I had to go to a hospital owned and operated by foreigners 100 per cent

“There is a budget for the Hospital and if you go there now, you will see a number of constructions going on but they don’t have a single syringe there. What is the purpose of the buildings if there are no equipment there to work with?”

“You can imagine what happens across the states to governors wives if this will happen to me in Abuja,” she said.

The Aso Rock Clinic management said last week it was short of funds for major projects and purchases and would demand the commercialisation of the clinic’s operations for efficiency.

https://www.premiumtimesng.com/news/headlines/245518-breaking-aisha-buhari-attacks-management-aso-rock-clinic.html

Adminisher:
Jonathan, see your life.

TellMeNothing:
Hehe Seriously. Thats why your adored Men of God are rather doing well as Religious Motivational Speakers not true preachers of the word..

What do you mean by inspiration, the house of God is meant for preaching the word, winning souls for Christ and unism of the Church(body of Christ) Not for deceiving people that until they do so so and so before God will bless them.. Lol
That's why i keep saying these pastors of our age are a class of very smart individuals who understand psychology and how to manipulate humans(guilible ones ) using what they believe in(exploiting their beliefs i mean) , anyway i no blame them na those followers wey call themselves Christains but cant even point out where the book of Habakuk,Galatians etc is located in Bible(they don't read their Bibles) Same Bible the Pastors take time to study and use to control them ..

See, Seeking knowledge /wisdom to excel in life is a different ball game okay. We pray for blessings And God does not open heaven and start pouring blessings for you, is by means of work. So live church out of it.
Church is for worship,spiritual growth,etc for which one be inspiration..

Shae you are still in church sha? Oya pray God should give you understanding to be quick to decipher wisdom, and helpful knowledge that will be of benefit to you in life and ofcourse the ability to TAKE ACTION so to stop shouting'i recieve it in church'.

Receive wetin

Nonsense..

Note, i replied you cause you quoted me - my message not directly to you but for everybody

Happy New Year

robotix:
even though I don't like the tone under which that guy spoke, which portrayed him as a fanatic, which is what many Nigerians are BTW, I can attest to one fact that they when I am pushed to the wall, all I have to do is ask God for help... and He always never failed, include the idea I have been working on in the last 6 months. It came as a surprise so much that I gave it my all and have been chasing this thing that could almost explode in mid 2018 and beyond. I can never reveal what is but the idea makes me so determined that I am fighting to see the end results, no matter the failure.

blimeyVic:
If you don't pray, fast, and sow seeds, how will you receive insight that will help you give solutions to problems affecting everyone?
God Bless all Christians Worldwide.
#Peace To all.

StarUp:
To become a multimillionaire in year 2018, you won't need prayer or fasting or sowing of seeds neither would you need hustling...just look for a problem that affects the general public and proffer a solution.

Baawaa:
You set up a business,and hand it over to thieve like Atiku to manage that business is gone

FrancisDiote:
At least Atiku went to school

OlaSammie:
And that's because the standard of living for the average Nigerian is very low......the blame still goes basically to the government

We definitely wouldn't be talking about this if we had a good government anyway.....

OGHENAOGIE:
how many people got gud jobs to subscribe to football league fix the country everything will fall in to place

LionDeLeo:
Even when obj was the president, the govs lacked same political will, yet obj saved for the rainy days.

Besides, let's assume he was overwhelmed by the govs to save, did they also armtwist him to deep hands into the foreign reserve handed over to him even in the face of high revenue?

SpyAC:
Ewoo, kpele oo, God will hlp us all. U be footballer, no where to play, so is also we that graduat, no work too. Nigeria was a mistake.

Topestbilly:
Daddyfreeze is now a monitoring spirit assigned to monitor Pastor EA Adeboye.

joepentwo:
Cellphones do not cause petrol
station fires
Is it true that if you use a cell phone while
filling up a car at a gas station,
it could
trigger a fire or explosion?
Researchers at
the Center for the Study of Wireless
Electromagnetic Compatibility at the
University of Oklahoma say there is virtually
no evidence to suggest that cell phones
pose a hazard at gas stations.
The Oklahoma EMC Center, which recently
presented its findings at a technical seminar,
sponsored by The Institute of Petroleum in
London, reported that there has never been
a confirmed incident implicating a cell
phone at a gas station anywhere in the
world.
The seminar was arranged to discuss
the results of scientific research and
investigations into this issue.
"Our study was first initiated in 1999 to
examine reports that cell phones posed a
hazard near gas pumps, define and
investigate the extent of the problem, and
make recommendations as to what actions,
if any, should be taken," said Glenn Kuriger,
Associate Director of the EMC Center. "Our
research, as well as the consensus of other
studies presented at the London seminar,
concluded that the risk is negligible, with
virtually no evidence to even suggest a
safety hazard."
But what about all those reports circulated
in the news media and on the Internet that
cell phones had blown up gas stations?
"I guess you can file them under the Urban
Legend category," said the EMC Center's
Director, Dr. Hank Grant.
"The reported
incidents are either hoaxes or have been
incorrectly attributed to cell phones.
There
simply has never been a confirmed
incident.
"Why then do some cell phone manufacturers
print warnings in their instruction manuals
about not using these devices in areas with
"potentially explosive atmospheres" such as
gas stations?
"I can't speak for the manufacturers, but the
warnings may be the result of an outdated
United Kingdom regulation that was set
when wireless phones operated at powers
up to 20 watts, as opposed to the typical
power of 0.6 watts today," Dr. Grant
explained.
"The electromagnetic emissions
from a cell phone are just not strong
enough to ignite gas vapours.
Based on
historical evidence and expert opinion, we
believe the risk of cell phones as a source of
ignition is negligible."
www.amta.org.au/articles/amta/
Cellphones.do.not.cause.petrol.station.fires

nairaland.com/3805466/cellphones-not-cause-petrol-station

Kposkila:
Nice initiative from NP

EvilMetahuman:
exactly..
what a messed up country.

ebig21:
but recently I saw a poster of a woman who died while making call at a gas station.

anyimontana:
Police done turn law makers...

Pierohandsome:
They have found another loop hole to rob people, Useless police. Is that why they are trained to combat crime? Who criminalised making calls at filling stations, whn did police turn to lawmakers?