₦airaland Forum

Lol....China is not and has never weakened its economy. In fact, at the current growth rate projected, China may rival US for the largest economy in 10 to 12 years from now. One of the reasons America is jittery and coming up with all these tarrifs and unnecessary trade wars, to slow China down. But this time China is well prepared and its economy well fortified against any trade war(after they learnt from previous Trump trade wars). China even refused to have any meeting with Trump on the tarrif issue(when Trump requested one last week) unlike Mexico and Canada. They imposed their own tarrifs because their govt. has been working on insulating their economy from shocks like this for the last 10 years. Thats is why they have spread their investments to other rich but dependent countries instead of concentrating on America alone

I guess what you wanted to write is that China deliberately manipulate their currency to look weaker against specific currencies in order to make their goods cheaper, for a comparative advantage in trade balance. This is not new, China had been doing this since their industrial revolution of 1970s(u can read it up). They are not the only ones doing this. Japan also deliberately kept the value of the yen lower. India and many ASEAN countries do it once they notice they have cheaper exports to stronger economies and big markets like US and Europe depend on them for most of their production as a result of globalisation. This has nothing to do with tarrifs.

It is known that you can get away with devaluation of your currency when you notice you are the production/manufacturing hub of the world....not a consumption driven economy like Nigeria's.

The biggest misfortune of Nigeria is having dafts like Tinubu as leaders, who does make decisions on the whims. Devaluing the Naira was a costly mistake that will set Nigeria back for another 50 years....thats why they are presently clueless on how to correct tge blunder

WantsandMore:
interesting and you strongly believe China weakening its own economy isn’t an impactful factor?

Lol...Biodun, go back to school...or ask your little cousin in JS 1 to explain how Tinubu does not hold forex on behalf of Nigeria and releasing does not have an effect on inflation.

Its too complex for you to understand,Biodun.

Biodun556:
Servicing of past debts

Increase of foreign reserve and

Infrastructure

Those are the major focus of the administration

But for me I want him to release the dollars so that inflation can come down

Very wrong . Chinas strong response to recent Americas tarrif_trade war has nothing, absolutely nothing to do with currency devaluation, not even remotely close to it. Chinas rising GDP, being a factory/production hub of the world and spread of trading networkbto other parts of the world rtaher than rely on Americas markets as their only biggest source of revenue gave it a good chance to push back without minding anything. Not the currency rate sir.

Also, Canada and Mexico have their economies so dependent on Americas so they were exposed to any vagaries of cyclic instability in American market made them weak opponents to the threats of the tarrif. Nothing to do with exhange rates sir.

WantsandMore:
The naira could’ve been deliberately manipulated to price in the strength of the dollar, I’m saying this with the premise of how China weakened its own economy willingly before DJT was sworn in. This is why they are probably non reactive at the tariff DJt is throwing around just bidding their time unlike how Canada and Mexico have been impromptu reactive only to backdown.

Lol...here we go again. Dont know how many times we will have shout this into some people's thick stuff.

It is always a terrible advice to devalue a currency that plays a second fiddle to other world currencies in its own economy. 1millions times wrong. It will never end well. Good implementation plan or not.

masseratti:
Its not a poor advice,the problem is the implementation.

I dont want to know.

CXLVII:
Visa in 2025. You wouldn’t want to know

As it is for every government, their shady deals and corruption are exposed when they are pushed out of office.

Once this government is kicked out, you will understand the true situation that led to what they are calling "floating"

It was a poor advice turned awry. They never expected that it would be this bad. They were advised to devalue ( to combat the looming revenue shortages) and liberalise the market(which is different from floating).

They did not expect it to become this bad because they failed to do a comprehensive situation and sensitivity analysis before hurriedfly announcing the reforms

masseratti:
The more they keep the NFEM the more there is room for people to take advantage of the exchange rate and this is not true floating.

Thats will only happen in your great great great grandchildren's lifetime. Tinubu has damaged this one for now.

b0rn2fuck:
Wahala, until it return to $500

Lol...what do you mean by collecting illegally?
Did you attend basic commerce/economics class in school to understand demand and supply??

Lalami3232:

Even if this naira falls from #1 to $1, prices of things won't still decrease. Government aside eeh, Nigerians are very wicked. We derive joy in collecting illegally from people, but on Sunday, na dem go dey front row. Once again, kudos to our economic team for bringing a positive change, though na una spoil am to this extent. God bless Nigeria!!!
What do I even know sef aside enlightening my fellow men nationwide with the good news

Forget am. Not in your generation again.

NaijaCoverBlog:
When Will This Dollar Rate Fall To 1,000Naira

Lol...to Uzbekistan right? I knew it. Congrats on your visa. I wish you a successful japa

CXLVII:
Hello! I passed that stage decades ago. I will be board a flight to any part of the world in 24 hours.

Lol....exactly. Recently, two Nigerian Defence Academy Cadets graduaed from American school of marines, just 2 graduates o,
Nigeria had a 16 member official delegation(not counting the unofficial handbagsand cargoes too)

abbey621:
Other countries would receive the invitation and limit the participants to maybe 2 or 3 but Nigeria go carry 30 people to show flex......At least they approved half, no vex they are just trying to save Nigerian taxpayers money

Lol....meanwhile this dude below is currently arranging a visitors visa to japa to Uzbekistan

CXLVII:
Canada with a population that is a little ahead of Lagos 🤣🤣🤣

If not conditions, who is Canada where Nigeria stands!

That cold isolated dungeon where bears outnumber humans.

....e be like e pain am

...but you dey beg to go visit there before...to waste public funds.....estacode gang fem...ole!!

Poorly advised on all things. Subsidy removal was not the worst of them. It was the devaluation of Naira. No country allows for full and abrupt devaluation of its currency all at once....only drunkards and cocaine inhalers

SalamRushdie:
Poorly advised on most things , his greatest undoing was reckless subsidy removal , if Tinubu had just waited till his cabinet was in place before talking subsidy he wouldn't be in the economic mess he is in today

Is this true?

No wonder?

SeeWahala:
Haven't I told you I don't like people like you quoting or mentioning me on this forum?

You are a very small boy to me Timothy Oluwagbenga Moses, you just graduated in 2018 and left nysc in 2019, you have no job and instead choose to be denigrating yourself and family all for 30k stipends from mannabbqgrillz people monthly

In truth, I pity you but that would not still be enough to allow you engage me. Especially as your political support is akin to that of those who support Chelsea and Manchester United on the football pitch

Why are you so surpised ? When a whole national assembly erupted into the "on your mandate we shall stand" for a certificate forger cum drug smuggling strategist, you should have had an idea of how degenerated governance have become in Nigeria, the shithole of Africa.

Irrelevant. Several leaders with Business leaders everyday...until that turns to a positive yield, then there is no need for senstionalism yet.

Lol...their president don run go where light no dey off, for a private visit

Lol....does he even understand AI?

Question shoud be how did this make front page?? Nairaland is complicit too

Agree

MaziObinnaokija:
Ok..Less NUISANCE online

Lol...read again. Modalities have been spelt out clearly.

Difrent:
Or its you who is running faster than your shadows cos the whole modalities for the company is not yet out

Lol...when will he render account ti the people that elected him

Lol..even the minister and her aide dey plan japa from the shithole

Lol....this is why they tell the mugus to continue to endure pains and sufferings and be patriotic in the hope that Nigeria will be good one day, while they send their own children abroad for education, bring them back and put them into juicy positions, ahead of those long suffering endurers and their long suffering offsprings......lol

Lol.....you think location defines misery?



[quote author=2tpick post=134104587][/quote]

Lol....cant see you objecting to the valid reason I gave but you are quick to label me anti tinubu government.

So much for your lack of education and love for mediocrity and spurious ideas that you dont evaluate things on merit but on sentiments.

You cant establish a crown/govt entity that draws funds from consolidated revenue without an act of parliament. Chikena. Until that is done,everything else is propaganda.

Is the student loan working? I guess the results are there for evryone to see it is moribund because it was poorly conceived as a reaction to bad economic policies

Mccullum:
You're suffering from obsession with this government. So your case is understandable, same way; you said students loan is propaganda.

Sorry for finding yourself in this perpetual sadistic situation.

Lol...these people just take Nigerians for mumu...because of the majority that hail them are not so educated.

He can not set up any public corporation, with which funds meant for the consolidated revenue go to without an act of national assembly.

They are just using this propaganda to carry the mumu people handicap....you will never hear of this again.

Lol....fallacies!! You are just beating around my friend.
What makes you think kanu might have more knowledge of these people more than me? Because of the noise and lies he spurts out through his propaganda machinery? Lol. He claims to be educated but act like a deranged illiterate. I mean, yesterday was a classic example of how not to be educated. When a man begins to shout down his own lawyers and shout at the same judge who against all odds, fought the previous government at the risk of her career to grant him the first bail,you should know he is completely deranged. He is destined for destruction. He is lost and can not hear the hunter's whistle again.

I listened to a few of his podcasts out of curiosity and knew immediately that this dude was not a freedom fighter but a deranged fellow feeding on the ignorance of a lot of people who needed a propagandists to fuel up their pent up assumptions of history. Reasonable alaigbo avoided him completely, only the gullible and miserable ones made him.a god. He is feeding fat on their stupidity. He may be educated, but not of the true feedom fighting calibre talkmore of undertanding the tactics of true and successful african feeedom fighters. I am an avid and voracious reader and analyst of history out of passion. Even if he knew, yrsterday was a good example of how not to act like them. Tactless and deranged. The ones who did like him were wasted by the colonialists , ether through assassination or leaving them to die in prison. They never tasted the freedom they fought for.

It is not my headache,yes, but let us see who will beg for his case to be heard after maybe 2 or 3 years or so in jail rottening away. The last time he was begging to be released so he could help in the security situation in the East, this time he will weep. We will see who need the panadol more.

2tpick:
The bottomline is that you are drinking panadol for another man's headache. Thank God u added the militant aspect of their struggles. It's always easier to criticise. Besides, you don't have a better knowledge of the history of these freedom fighters more than Kanu himself. Someone who came out unprepared would have long compromised and taken the easy way out. He knows what he is doing and also knows the implications. At some point, his legacy will also be consigned to the history books.

Lol....Kenyatta, Julius Nyeyere, Kenneth Kaunda and Mandela arrogant and tactless? You may accuse some of them of being boisterous and militant but never so tactless and super arrogant like this your dude.

Take the case of Mandela, while the ANC was insisting on both political ans economic emancipation or nothing, Mandela saw it that was going to be impossible to get both at the same time.....he unilaterally initiated a 1 man negotiation with the apartheid regime to the surprise of all his superiors in ANC who were in exiie then. His position was that you need to get political power first before chasing the other and the closer one was the political power as the whites were never going to leave their economic power till death. He stated that they would get the sympathy of the world if they are fighting for the rule of the majority rather than chase that with the economic power that was firmly in the hands of the Oranges. It was pragamtism and wisdom combined. Not gra gra.

This fellow had to so just 1 thing yesterday, allow the motion to be heard and passed. The woman(funny enough was the only judge who fought back Buharis govt to grant him a bail then) is tired of the case and wants to run away from it, would have finished the case under 30 minutes, to comply with the request of the chief judge.

By the way there was nothing illegal in the request by the Chief judge to request that the verbal prayer for reclusion made by Kanu to Justice Nyarko be put into a motion for formality.

Now case has been adjourned indefinetely, the chief judge and justice Nyarko will retire before anybody touches the case file...by then he might be approaching 70 years of age

2tpick:
It's much easier to recount the travails of Mandela, Mugabe and the likes in retrospect because they were successful. If u lived in that era and followed their course, believe me u will still tag them arrogant, recalcitrant and tactless.
The point the young/old man was trying to make was that the court proceedings of 24th September ruled that nyako had recused herself from the case (we all read the pronouncement here on nairaland cos it was on frontpage). He said a memo from the chief judge can't override the pronouncement of nyako herself which already stands as a court order. That amowolo should appeal if he doesn't agree with that order. He even made reference to Nigeria's judicial policy to back up his claims.
However, do u think he doesn't know what to do in order to gain freedom? Do u think he doesn't have the what it takes to hobnob with the high and mighty from day one? Personally, I don't even think he cares about his freedom.

Lol....exercise in futility. Wetin concern Trump with a bail jumper.

sweetjohn:
My advice to Ndigbo. No need being unnecessary emotional. We should rather do something effective. The only person on earth now that can free Nnamdi Kanu and free us from our numerous enemies is Trump. So I suggest, we all should tag all Trump social media handles until he pay attention to our cry and sufferings. Imagine if 10million people tag him on fb and twitter? It will be a done deal

Lol...not sure you read the report and followed the facts of the case. Otherwise, i believe you are more intelligemt that what you wrote below

LEGALSER:
This is really shameful I must say, Binta Nyahko and that yeye SAN are just bringing disrepute to the legal profession. How can you refuse to hear a matter yet you are back to sit on the matter when you've earlier on distanced yourself from it? Isn't that corruption? And a so called SAN who knows the law is there with his eyes wide open trying to make mockery of the law. I like the fact that he insulted all of you because you people have reduced the legal profession to a child's play if not why will Nnamdi Kanu get the balls to insult a sitting Justice and calling a SAN a child this is really embarrassing. You people should get someone else to try him or you release the man, Nigeria is no longer as it used to be and it's quite shameful.