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Family / Re: House Clearance Sales.. Come In Here!!!! by donbrowser(m): 12:50pm On Aug 19 |
Family / Re: House Clearance Sales.. Come In Here!!!! by donbrowser(m): 12:17pm On Aug 19 |
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Politics / Re: Will Nigeria's Dutch Auction System Improve Economic Stability? by donbrowser(m): 7:43pm On Aug 11 |
Ikaeniyan0: Exactly! |
Politics / Will Nigeria's Dutch Auction System Improve Economic Stability? by donbrowser(m): 5:58pm On Aug 11 |
The Central Bank of Nigeria has recently implemented the Dutch auction system (DAS), marking a significant shift in its foreign exchange management strategy. This system, known for its transparency and market-driven approach, has been employed by several countries with notable success. For Nigeria, adopting DAS is a crucial step towards stabilizing its currency, attracting foreign investment, and fostering economic growth. Countries That Have Benefited from the Dutch Auction System The Dutch auction system has proven effective in several countries, particularly those with volatile currencies and economies reliant on foreign exchange. Notable examples include: 1.Indonesia: During the late 1990s, Indonesia adopted the DAS to manage its currency crisis. The system helped stabilize the rupiah by allowing market forces to determine exchange rates, leading to increased investor confidence and economic recovery. 2. Russia: In the early 2000s, Russia implemented DAS to stabilize the ruble after the financial crisis of 1998. The system curbed inflation and restored faith in the Russian economy, eventually leading to robust economic growth. 3. Ghana: Ghana adopted the DAS in 1983 as part of its structural adjustment program. This move stabilized the cedi and encouraged foreign exchange inflows, which were critical for the country’s economic restructuring and growth. These countries illustrate how the Dutch auction system can be a powerful tool for currency stabilization and economic recovery when implemented alongside sound fiscal and monetary policies. How the Dutch Auction System Will Favor Nigeria Nigeria's economy has been grappling with challenges such as currency depreciation, inflation, and dwindling foreign reserves. The introduction of the Dutch auction system could offer several advantages: 1. Currency Stabilization: By allowing the naira’s exchange rate to be determined by market forces, the DAS can reduce currency volatility. This could lead to a more stable naira, essential for attracting foreign investment and boosting investor confidence. 2. Increased Foreign Exchange Inflows: The transparency and competitiveness of the DAS could encourage more foreign exchange inflows. Investors are more likely to bring in foreign capital when they have confidence in the exchange rate mechanism, leading to a potential increase in foreign direct investment (FDI). 3. Reduction in Speculation: The DAS could reduce the speculation that often leads to currency depreciation. When exchange rates are set transparently through an auction system, there is less room for arbitrage and speculation, which can stabilize the market. 4. Boost to Export Competitiveness: A stable naira can make our exports more competitive globally. As we look to diversify its economy away from oil dependence, this could be a critical factor in boosting non-oil exports. Final Verdict The adoption of the Dutch auction system marks a significant step towards economic stabilization. By allowing market forces to determine the exchange rate, the country stands to benefit from increased investor confidence, foreign exchange inflows, and a more competitive export sector. As we navigates these changes, it will be essential for policymakers to maintain a delicate balance between encouraging economic growth and ensuring financial stability. If managed correctly, these initiatives could usher in a new era of prosperity for Nigeria. Source: My Humble Self |
Business / Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by donbrowser(m): 2:34pm On Aug 11 |
dapotemi: Ok 2 Likes |
Politics / Re: NASS, Four Others Get ₦109 Billion Allocation In One Month — Report by donbrowser(m): 1:39pm On Aug 11 |
Ok |
Business / Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by donbrowser(m): 1:03pm On Aug 11 |
dapotemi: All these nonsensẹ́ will not stop if you don't face the initiator of the troubles. Stop speaking to both of us when you can't caution him each time he starts his mádness. In that 2 years, no single time have I quoted that guy first before and no one has ever called him to order here but y'all will start forming peace maker when I unleash hẹ́ll on him. It doesn't work like that. At the instant where he quoted me first is when you should warn him of his act. Sincerely, I won't speak further if I ever see anything like that but you guys will wait till I start putting him where he belongs. 2 Likes |
Business / Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by donbrowser(m): 12:52pm On Aug 11 |
vivalavida: I am sorry to have disappointed you this once. I never knew I have been impressing you all the while but how come you only spoke now? |
Politics / Re: Minimum Wage by donbrowser(m): 7:34am On Aug 11 |
Deprincess4321: They will cope. The FG is currently giving tax incentive to any firm that meets a threshold of employees. In other words, they want firms to employ more people for reduced tax. It's going to be a win-win 1 Like |
Politics / Re: Re: Zanga-Zanga And Tinubu’s Crumbling Northern Alliance - Donbrowser by donbrowser(m): 9:37pm On Aug 10 |
huptin: So where's your analysis 2 Likes |
Politics / Re: Re: Zanga-Zanga And Tinubu’s Crumbling Northern Alliance - Donbrowser by donbrowser(m): 5:55pm On Aug 10 |
indemnityy:Very sure! |
Politics / Re: Re: Zanga-Zanga And Tinubu’s Crumbling Northern Alliance - Donbrowser by donbrowser(m): 4:17pm On Aug 10 |
Philipponzaghi: Aptly said 2 Likes 3 Shares |
Politics / Re: Re: Zanga-Zanga And Tinubu’s Crumbling Northern Alliance - Donbrowser by donbrowser(m): 2:50pm On Aug 10 |
Chinkoalhaji34: 💯 5 Likes 4 Shares |
Politics / Re: Zanga-Zanga And Tinubu’s Crumbling Northern Alliance - Donbrowser by donbrowser(m): 12:55pm On Aug 10 |
Previous thread: https://www.nairaland.com/8180955/zanga-zanga-tinubus-crumbling-northern-alliance A Response to Farooq Kperogi's Critique 13 Likes 3 Shares |
Family / Re: House Clearance Sales.. Come In Here!!!! by donbrowser(m): 9:54am On Aug 10 |
tojahh: Oya na. Make we enter WhatsApp 0706442831Nine |
Family / Re: House Clearance Sales.. Come In Here!!!! by donbrowser(m): 8:16am On Aug 10 |
tojahh: Card as how? I don't get what you mean by card. |
Family / Re: House Clearance Sales.. Come In Here!!!! by donbrowser(m): 4:43am On Aug 10 |
tombla: How much? |
Business / Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by donbrowser(m): 9:38pm On Aug 09 |
Halahhalah: And Ode is not in your name last time I checked or is it your fáther's name that we didn't know of? 3 Likes |
Business / Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by donbrowser(m): 7:02pm On Aug 09 |
Germanhunter: Visit cash drive.co They will offer you a loan in exchange for your car documents. These people you're asking are only interested in mocking people and not helping. All the best. |
Business / Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by donbrowser(m): 6:44pm On Aug 09 |
Itsrm: That man knows the truth, he's only trying to close the door against others. He's always been like that. He never mentioned that he was making money from Jonathan's government until he lost the job. He never mentioned that he was making money from ehailing until he japa. Till today, he's still doing legwork on how he traveled. Someone that even lied about being in USA so people won't ask how he travelled to Canada? What other proof do you need? 3 Likes |
Family / Re: House Clearance Sales.. Come In Here!!!! by donbrowser(m): 6:35pm On Aug 09 |
Anyone want to sell DSTV decoder? I need only decoder. 1 Like |
Politics / Re: President Tinubu’s Efforts To Open New Opportunitie by donbrowser(m): 4:11pm On Aug 09 |
malali: 1. The article doesn't fully capture the priorities of the current administration. The emphasis on roads and infrastructure aims to address the government's broader strategy of decentralizing development. For instance, Ogun State still lags behind Lagos in terms of development, not to mention states further away. While it's true that Nigeria also needs to prioritize issues like security and power, it's worth noting that power supply has improved over the past year, and there has been a noticeable reduction in banditry in recent months. However, on a larger scale, one must consider how much longer Lagos can accommodate such a significant portion of the population—currently around 10-15% of the entire country resides there. 2. The criticism of Tinubu and accusations of centralizing development in Lagos is not a recent phenomenon; it has persisted for years, even before he assumed power. There have long been claims that the federal government, under Tinubu’s influence, deliberately undermined seaports in other regions to concentrate development in Lagos. Yet, it is noteworthy that the same person facing such criticism is now working to open up other regions for development. 3. Regarding accountability, there has been no concrete evidence suggesting that ongoing projects are overvalued or that funds are being mismanaged. Therefore, this discussion can be set aside for now. God bless the Federal Republic of Nigeria. 1 Like |
Sports / Re: Tobi Amusan Finishes Third In 100m Hurdles, Crashes Out by donbrowser(m): 3:38pm On Aug 09 |
derecho: Would you say Jonathan was also bad luck in 2012? 17 Likes 2 Shares |
Politics / Ten Initiatives Of Federal Government For Nigerians & Their Websites by donbrowser(m): 3:36pm On Aug 09 |
Renewed Hope Initiatives!!! 1. Student Loan Scheme: nelf.gov.ng 2. Compressed Natural Gas (CNG) Initiative: pci.gov.ng 3. Consumer Credit Corporation: credicorp.ng 4. Digital and Creative Enterprises (IDiCE) Program: boi.ng/idice/ 5 . Skill-Up Artisans Programme (SUPA): supa.itf.gov.ng 6. Nigerian Youth Academy (NIYA): niya.ng 7. National Youth Talent Export Programme (NATEP): https://statehouse.gov.ng/news/fg-unveils-national-talent-programme-to-boost-youth-employment/ 8. Nano-Business Support: https://grant.fedgrantandloan.gov.ng/ 9. Micro and Small Business Loans: boi.ng/micro-business/ 10. Housing Initiatives: https://renewedhopehomes.fmhud.gov.ng/ |
Politics / President Tinubu’s Efforts To Open New Opportunitie by donbrowser(m): 3:23pm On Aug 09 |
Appreciating President Tinubu’s Efforts to Decentralize Development and Open New Opportunities Across Nigeria In recent times, there has been much debate about the direction of Nigeria's development, with critics often accusing the federal government of centralizing economic activities in Lagos. However, this perspective fails to recognize the significant strides being made by President Bola Ahmed Tinubu to open up new areas for business and development across the country. These efforts are not only aimed at boosting economic growth but also at decongesting Lagos, Nigeria's commercial nerve center, and redistributing opportunities more equitably across the nation. One of the most noteworthy initiatives in this regard is the construction of the Lagos-Calabar coastal road. This ambitious project is set to transform the economic landscape of Nigeria’s coastal regions, linking Lagos to Calabar and providing a critical artery for trade, tourism, and economic activities along the coast. The Lagos-Calabar road is more than just a highway; it is a lifeline that will open up previously underdeveloped areas to new investments and opportunities, fostering economic diversification and reducing the pressure on Lagos. Similarly, the Lagos-Sokoto road is another monumental project that underscores President Tinubu’s commitment to decentralizing development. By connecting Lagos, the economic capital, to Sokoto in the far northwest, this road will not only facilitate the movement of goods and people across the country but also encourage the development of industries and businesses in the northern regions. This initiative is poised to stimulate economic growth in areas that have long been neglected, creating jobs and improving living standards for millions of Nigerians. Beyond road infrastructure, the federal government under Tinubu’s leadership has also made significant progress in revitalizing the Onne Port in Rivers State. Once underutilized, the Onne Port is now functioning effectively, serving as a key hub for maritime trade in the eastern part of Nigeria. The operationalization of the Onne Port is a strategic move to divert traffic from the congested ports in Lagos, thereby reducing the burden on the city’s infrastructure while boosting the economy of the Niger Delta region. This development is a clear indication of President Tinubu’s vision to create multiple centers of economic activity across the country. In addition to these infrastructure projects, the almost completed Port Harcourt refinery is another testament to Tinubu’s efforts to decentralize economic activities. The refinery, once fully operational, will not only reduce Nigeria’s dependency on imported refined petroleum products but will also create thousands of jobs and stimulate economic activities in the South-South region. This project aligns with the broader goal of diversifying Nigeria’s economy and reducing the over-reliance on Lagos as the primary driver of national economic growth. Despite these commendable efforts, there remains a prevailing narrative that the federal government is centralizing everything in Lagos. This narrative overlooks the tangible progress being made to open up new areas for development and to ensure that the benefits of economic growth are more evenly distributed across the country. President Tinubu’s administration is actively working to break the cycle of overdependence on Lagos by investing in infrastructure projects that will unlock the potential of other regions and create a more balanced economic landscape. It is essential to recognize that the task of decongesting Lagos and decentralizing development is a complex and long-term endeavor. However, the steps taken by President Tinubu so far demonstrate a clear commitment to this goal. The construction of critical road networks, the revitalization of key ports, and the development of major industrial projects outside Lagos are all part of a strategic effort to open up new frontiers for business and development in Nigeria. As these projects come to fruition, they will undoubtedly reshape the economic geography of Nigeria, making it less dependent on Lagos and more inclusive of other regions. The benefits of these efforts will not only be felt in the immediate term but will also have lasting impacts on the nation’s development trajectory. While the work is far from complete, it is crucial to acknowledge and appreciate the efforts of President Bola Ahmed Tinubu in his bid to decentralize development and create new opportunities across Nigeria. His administration’s focus on infrastructure development in different parts of the country is a clear indication that the federal government is committed to building a more balanced and prosperous Nigeria for all. Source: My Humble Self |
Politics / Re: President Tinubu Curbing Corruption With Credit Facilities by donbrowser(m): 10:15am On Aug 09 |
Brendaniel: Where's the appointee with 4 houses? |
Politics / Re: President Tinubu's Tax Incentive Strategy For Job Creation - Donbrowser by donbrowser(m): 9:53am On Aug 09 |
mrvitalis: So what is Tinubu giving with consumer credit? |
Politics / Re: President Tinubu's Tax Incentive Strategy For Job Creation - Donbrowser by donbrowser(m): 9:19am On Aug 09 |
nairamaniac: Like borrowing money to pay salary and subsidize dollar àbi? |
Politics / Re: President Tinubu Curbing Corruption With Credit Facilities by donbrowser(m): 9:18am On Aug 09 |
CodeTemplar: I was even engaging someone that doesn't under the topic of discourse. Mtscheew |
Politics / Re: President Tinubu's Tax Incentive Strategy For Job Creation - Donbrowser by donbrowser(m): 9:16am On Aug 09 |
mrvitalis: What does America and UK give to their citizens? |
Politics / Re: President Tinubu Curbing Corruption With Credit Facilities by donbrowser(m): 9:16am On Aug 09 |
Brendaniel: So you don't have the name of the appointee that bought 4 houses again? |
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