₦airaland Forum

patriotic9jaboy:
Where will he see money to care for three wives and how can he satisfy them sexually

Talk about FourSome

Time to start supporting Obiano!

kcnwaigbo:
that is what the real value should have been.I wonder why it is taking the government so long to fix it.Lets hope they get it right,the current inflation is just too much

Yea, the Value of naira was artificially driven down by following factors:

The wholesale and hasty ban of 41 commodities without close subsitutes.

The scrapping of BDC.

The stories and tales of recessiion which were exaggerated by the media..

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kcnwaigbo:
lets hope that happens and brings respite to the economy!!! the current inflataion rate is killing.

Trust me, the true Value of the naira is between 280 to 300 naira to a dollar, every other thing is artificially fixed!

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DIKEnaWAR:
Quick measures are like quick sand. They wait for your leg to dig deeper, before collapsing on you.

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Princewilla:
Are we supposed to celebrate?

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bigtt76:
This is just a supply induced respite. For God's sake, the naira's true value is dependent on the country's exports and not from hand outs by the diaspora.

Don't forget that the diaspora helped bring down the value unintentionally because everyone was trying to cash in on the high dollar to naira exchange rate. With these rates crashing, trust me the inflows too will drop. This in turn will lead to the situation we were in before

I disagree at the bold! The so called remittance is not up to 2% of forex transactions..

Ok

Fani-Kayode stated this in a statement sent to Punch's correspondent in Abuja on Thursday. He said despite the fact that he had been granted bail by the court, the commission was planning to re-arrest and detain him for a very long time.

Why did he choose to send it to th Punch Newspaper this time around, instead of the usual Ipob Vanguard Newspapers?

The Nigerian currency, the Naira is inching towards the N280 to the dollar opening rate at the Financial Markets Dealers Qoute (FMDQ).

The naira on Wednesday closed at N304.75 to the dollar at the official interbank market from N305 recorded on Tuesday.

At the Bureau De Change (BDC) window, the naira exchanged at N385 to the dollar, while the pound sterling and the Euro traded at N550 and N504, respectively.

Trading at the parallel market saw the naira exchanging at N450, N545 and N495 to the dollar, pound sterling and the Euro, respectively.

Traders at the market expressed optimism that the licensing of additional 20 International Money Transfer Operators (IMTO) would bring more liquidity to the market.

NAN reports that in a bid to conserve the nation’s foreign reserve and to liberalise the foreign exchange market, the CBN is interfacing with IMTOs to sell the proceeds of Diaspora remittances to BDCs.

The decision of the CBN has borne very positive fruits as the naira continues to appreciate at the forex market.

Read more at: http://www.vanguardngr.com/2016/10/naira-inches-n280-per-us-dollar/

lalasticlala

rusher14:
I've got something for you.

You can pick it up in Benin Republic.

You maybe right!

I still Maintain, Akpabio and Wike wrote that controversial letter for Justice Inyang, in order to politicize a criminal matter..

Thank God, Nigerians are not buying that rubbish!

[size=15pt]IMF has rated Nigeria economy as the biggest in Africa ahead of Egypt & South Africa, while Fitch is projecting a 2.6% growth in 2017.

Slow and Steady, Buhari and his team are getting us out of woods, where PDP' years of locust and reckless looting of our common patrimony took us to.

In all, May the good Lord, Bless Muhammadu Buhari For Us![/size]

Channels Television
TOP VIDEOS



IMF Affirms Nigeria As Africa’s Biggest Economy
Channels Television.
Updated October 19, 2016
Ahead of South Africa and Egypt, the IMF, Nigeria, EconomyInternational Monetary Fund has affirmed Nigeria as the biggest economy in Africa.



Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa in August 2016, following the recalculation of the country’s Gross Domestic Product.

However, the IMF’s World Economic Outlook for October 2016, puts South Africa’s GDP at 280.36 billion Dollars, from 314.73 billion Dollars in 2015.

Meanwhile, latest estimates from the IMF put Nigeria’s GDP at 415.08 billion Dollars, from 493.83 billion Dollars at the end of 2015.

Although Egypt’s 2016 data was reported as unavailable, its 2015 size remained at 330.15 billion Dollars while that of Algeria, one of the largest economies on the continent, was put at 168.31 billion Dollars.

Global growth is projected to slow to 3.1 percent in 2016 before recovering to 3.4 percent in 2017.

The forecast, revised down by 0.1% point for 2016 and 2017 relative to April, reflects a more subdued outlook for advanced economies following the June U.K. vote in favor of leaving the European Union (Brexit) and weaker-than-expected growth in the United States.

Growth In 2017

The International Monetary Fund also predicted that the Nigerian economy will grow by 0.6% in 2017, effectively lifting the country out of an officially declared recession.

IMF, Nigeria, Recession, 2017
According to the Bretton Woods institution, Nigeria has a marginal lead over South Africa and Egypt in terms of GDP
In the IMF’s WEC report released on October 5, Nigeria’s real GDP is expected to increase marginally by 0.6% with Consumer Prices rising by 17.1% also, Fitch ratings on the other hand, also projected a 2.6% growth in Nigeria’s GDP for 2017.

Nigeria’s Current Account Balance is however also forecast to slump further by 0.4% next year.

Beyond 2017, IMF expects global growth to gradually increase by 3.8% in 2021.

This recovery in global activity, which is expected to be driven entirely by emerging market and developing economies, is premised on the normalization of growth rates in countries like Nigeria, Russia, South Africa, Latin America, and parts of the Middle East.

Although the global rating agency had reduced its forecast for the country’s 2016 GDP growth to 1% from 1.5% due to weak performance in the first half of the year, Fitch believes the economy will bounce back in 2017 but with downside risks if dollar liquidity remains tight.

Furthermore, Fitch believes that dollar liquidity will not significantly improve until market participants become more comfortable with the sustainability of the exchange-rate level, which is likely to require further narrowing of the spread between the official and parallel market rates.

The rating agency also increased Nigeria’s average CPI forecast for 2016 to 14% from 11% and expects the government to secure financing from multilateral development banks and bilateral sources.

https://www.channelstv.com/2016/10/19/imf-affirms-nigeria-africas-biggest-economy/

lalasticlala Seun

Oko

lalasticlala

Justice Okoro knew that there was no way he would have been made a member of the panel of the Supreme Court that heard the appeals from the Akwa Ibom State election since he is from the State. One wonders why he said in his letter that he had decided to do all within his powers not to be in the panel for Akwa Ibom State. Importantly, as at the time he claimed the duo of Amaechi and Umana visited him separately, the Chief Justice of Nigeria (CJN) was yet to constitute the panel that heard the said appeals.

lalasticlala

MadamExcellency:
EFCC came to arrest Eunice Kalu (Orji Uzor Kalu's mother) in 2006 with 50 armed operatives in the midnight at Eziama, Aba but were resisted by Bakassi Boys until dawn and nothing has happened till today. The case just died like that and Obasanjo was helpless.

Ngwakwe, Keep supporting evil!

Afterthought! It seems Wike and Akpabio Wrote the letter on his behalf!

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zico530:
Op, you, your headman and your sponsors are more clueless. Please, listen to oga's advice and go to the other room.

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It Shall Not Be Well With Jondaft!

Good,

Well said Buhari!

We love you!

Jirate:



God Bless You my Bishop,
His wife who incidentally is the only known Close Person that had been bold enough to tell Him the Truth has now been relegated to the Other Room and Kitchen Cabinet, What a Shame.

You have started again? Can I ask you, who do you think, will replace him? Which party?

Abeg go let that ciminal pastor you voted online pray for you

crixtex:
See the Vanguard link now... is the Vanguard news media now lying or dishing out fugazy...

Illiterate!

Ipob yoots!

No be only Vanguardnigeria.com ( clones website of the Vanguardngr.com) na Vanmaiguard.

Useless set of people!

Okok