₦airaland Forum

grandstar:
You're quite correct. It's like when one hears a country taking an IMF loan.

Truth be told, the actual value of the Naira is around 480. All government needs to do now is to resume sale of dollars to the BDC's which I'm sure would strengthen the value back to around 480. The CBN thereafter devalues the official rate to around 460 or 470. This will restore sanity to the market.

Lamido Sanusi met something similar when he came on board in 2009. The official rate was around 120 and parallel rate was about 190. He simply devalued the official rate to 155 and the parallel rate firmed up to 160.

A lot of the demand for forex at the official rate isn't real but speculative. Excess demand at the official rate would dry up if the price was market determined.

In your professional judgement (I assume you're an economist of sort, or at least you appear to have some extensive knowledge of the subject), why do you think Emefiele hasn't explored the same solution Sanusi deployed when faced with a similar situation?

grandstar:
What most of you don't rwalise 8s that rejecting market forces is what actuallises your fears. You Your currencies values are determined by fundamentals.

It is PMB'S hatred of market forces that has plunged the Naira this low. From 1999 to May 2015 the Naira's value moved from 100 to 216 at the black market. That is over 16yrs.

Under Buhari,, from 2015 till date, who is anti-market, the Naira has fallen from 216 to 575 today. That is under a within a space 6. 5 years.

You don't get it. It's not about whether Osinbajo is right or wrong (from an economically sound policy view), but rather the perception of its effects by the general public. Folks like yourself that have extensive knowledge on 'economic theory and practicals' are in the minority. And no amount of verbose economics jargon would convince the average Nigerian (right now) that it is in their interest to float the naira with a possibility of the currency further losing its value than its current exchange rate against the dollar, not to mention the brutal inflation that's likely to follow.

This administration has obviously mismanaged whatever amount of goodwill it once had amongst the general populace, which could perhaps have come in handy as leverage to push the policy through. But as it stands, the most likely effects of Osinbajo's suggestion would certainly not be well received, no matter how well-intentioned. Unless its unpleasant effects can somehow be cushioned or mitigated. That's the crux of my argument.

Maybe the winner would be decided by Anambra indigenes/voters in Lagos, since ipob fit scatter the election for Anambra. Abi naw? Any way na way.

This Obaseki seems to have dictator tendencies. It's the same method he used in messing up Oshiomhole before he decamped, that he has again deployed in kicking out Orbih too (by suspending them at the ward level). The guy na something else.

Make dem no kill the girl by sending her to the frontlines to fight boko haram o. Biko o.

This Tinubu really has lots of political fans sha.

Prof should be careful with this advice because if the naira is left to market forces as he's suggesting, it could go as high as N1000+ to a dollar within weeks. The consequent inflation would be mad. And knowing Nigerians, they won't hear grammar o. To the average person on the streets, dollar to naira exchange rate is meant to be as low as possible, they don't care how it's done. Else they will heap the blame on him and Buhari's heads.

BigSarah:
I never for once supported Kanu...
I never for once supported IPOB...

I only supported Agitation for Biafra(and I still do, but not the IPOB model)
I only supported ESN (when they weren't terrorists)

Lie! You used to be one of MNK's ardent supporters. But you apparently stopped when IPOB/ESN/UGM became violent and started killing fellow igbos.

It was some hungry bloggers that fabricated the fake news of his death. Especially the ones on YouTube. It was so rampant that even Sanwo-Olu had to visit him in London to confirm that it wasn't true. The rumours may also have been started by his political enemies.

Iyaebe:
He should return all the sex he had with her too,after that then she will in turn return the bride price.Its that simple.

How?? Did she not also sex him? Abi wetin dis one dey talk sef. Is sex supposed to be a one-way street? Abi no be dem two sex/fvck each other?

I have a feeling this man would make a terrible governor.

He looks like a yahoo boy.

He might as well do that. After 3 pikins.

It depends. If the U.S VISA is a visitor's visa and not a resident visa, he should reconsider going there to overstay. Overstaying your visa can be dicey with an unpredictable outcome. 400k with possibility of further growth in Nigeria isn't bad.

Oyedepo is just angry that his preferred Fulani isn't the one at the saddle.

I think it was this sort of unethical journalism that led to Premium Times sacking the owner of People’s Gazette. The gazette guy is obviously a failed journalist who is in competition with Sahara Reporters in the department of proliferating fake news. If he continues this way, his brand won't stand the test of time.

Abi she don soji say e wan use am collect American passport.

When did Kogi become a 'city'?

Wike is ready to sink the party unless he has his way. The guy behaves like a dictator/tyrant.

The rate at which Nigerians are being arrested for criminal activities in India these days is becoming alarming. India might soon begin to make it difficult for our people to get their visa.

arthurwillia:
Yes but you’ll pay with stress oo! Be ready for that

I am sure that @andyblinks05 won't mind the rewards of the stress than comes with hustling and making a way for himself, considering that he's still young and hungry to make something tangible out of life. No pain, no gain in life.

Damn! Rochas must be the biggest landlord in Imo state or even the entire South East sef, for him to own that many properties in the state.

Op is spot on. Nigerians that complain about bad government, lack of jobs and social/infrastructural amenities, still go abroad to developed countries to commit crimes. We can't blame the government for such bad behaviour.

Wike is relentless in his quest to oust Secondus by all means. Chinda is a Wike boy. I wonder what Secondus did to Wike that is so unforgivable.

They can't try that with Nigeria. Our people will go and spoil the place within a month of such policy going into effect.

This thread has inferiority complex written all over it. Foolish comparison based on an equally foolish generalization.

This can't be the real Tinubu. They said the real one is dead. This must be Al-Tunibi from Sudan.

I am with Muiz on this. There must be an ulterior and deliberate motive on Buni's part to destroy the party's chances of winning the 2023 general election, perhaps to favour a Northern presidential candidate of the opposition party. Because his caretaker committee's stubborn insistence on going ahead with the congress (in light of the recent supreme Court ruling) makes no sense whatsoever. It would have cost them nothing to postpone it.

Lori iro. Dem don come. Sakamaje.

seunmsg:
That’s why Malami of all people should advice the party to err on the side of caution and stop this silly grandstanding. The court cases that will follow the ongoing ward congresses will be enormous and distracting.

Being governor is enough trouble, why is Buni desperately trying to hold on to the two positions despite the impending legal distractions? What if the Supreme Court rules at the end of the day that he’s holding the National chairmanship position illegally?

Malami's argument is very stupid. It is certain that this issue would be weaponized by the opposition all the way to the same supreme Court whose decision he is challenging, leaving room for uncertainty. Why take such a needless risk? Why can't the party just dissolve the controversial caretaker committee and reconstitute another one that won't have this issue hanging over its head. It makes no sense really.

What manner of savagery and barbarism is this for goodness sake??