₦airaland Forum

Drmola:
Good day, how far will 4m go for either of these two :
A twin standard 3 bedroom flat or a 4 bedroom bungalow, all rooms ensuit with visitors toilet and a study

Depends on your location

Timbuktou:
So, did he present this TC document?

Ofcos.how did you think he got on the plane from. London? The FG making that statement are clever cos they knew it was true that he came with no.passport as they could not find one one the system.

divinehand2003:
GEJ could have done more than these given the amount of resources available to him. But he wasted it, now we are in dire economic situation. We can't even pay civil servants today without bailouts. Don't cite low crude prices an excuse. He failed woefully and that's why he lost confidence of the electorates. By the way please name the roads, railways he initiated and completed. Where is SURE-P today?

U dey sleep ni.did you not see Ameachi comission one of the railway?the one he said he never knew existed? In PH? Where you too young wen some state govs took GEJ to court for them to share the ECA? saving gs we made for the rain g day? The likes of Tinubu and. Adams plus Ameachi. .The problems with the youth of today they are too lazy to read. Did you not listen to PMB and see how your next 4 years had been mortgaged? Did U not see where his feeding allowance exceeds GEJ by almost 3M.did U hear him say he will build more refinaries? Power plant? All he is promising are abstract projects. B wise.

Mrstranger:
The bureau de change was license in 1989 by the CBN in a bid to increase access by small users like traveller, small scale trader to forex. it is a spot market because the demand and supply of a currency determines how much it will be traded, also participant are market maker and quote prices they feels its competitive.

they are licensed by the CBN and it's the CBN that sell them forex. also they are regulated by the CBN. this can be viewed in the recent recapitalization of the industry.

Note that CBN was never a spot market. they participate in the market to transact business on behalf of the federal gov't and as regulators when demand and supply cannot install stability. Spot market is a group of commercial banks are some forex brokers.

My friend easy nah so we do t think you are one of those who get things mixed up.bureat de change is any agent who buys and sells hard currency. U can be one I can be too all we need is license. These forms the black market.there are loads of bureau de changes round the world.it's not just in Nigeria. Even in cotonou there are 100 of them.wen we say black market who do you think they reffer to?

achimotan:
CNR

Ok I dnt k ow what that means the NHS.is national
health service .the black african doctors are %80 Nigerians. The cleaners are %80 Ghanians this is fact ask any of your people from the UK now what is CNR?

KingEli:
n yet he used money meant for arms purchase to fund his campaign abi?

If campaign is that expensive where did PMB get the mo ey from to fund his own for 3 times

BrokenTV:
Thanks for the correction, but you can still use R and L the mean the same thing in Igbo. Is still the same pronunciation.

Which part of the Ijaw man is relayed to Igbo?.We have oo in igbo and ono in yoruba so are they same?

FabioPeter:
Nice product but why use a white man on the advert. You are advertising the product to blacks.

Seriously? ??did the product specify what race or colour it's meant for? ?

authority2006:
Concern you or not, this is what we voted for. This change sweet belle no be small thing. The era of criminals working free, stealing our collective wealth and rubbing it on our faces is over.

For your mind nd the likes of OBJ are roaming free

Timbuktou:
Common sense should tell you he travelled with a fake or unknown one.

To both of you arguing YES you can return to Nigeria without a passport.there is such Doc called a TC travelers certificate. It's handed to you when you lost ur passport. Saying he did not come it with a passport is a silly excuse to be used to detain a person.

Intendy:
No I listened to budgit.
go www.yourbudgit.com for all details.
No time for argument, I'm already in a new year

Joker

fabulousmann:
all those saying Baba cldnt gv a straight answer are funny o. let's b honest do u answer questions wt direct answers. me I don't. if anybody want to know everthing join politics

Wen U go for job interviews or visa interviews don't give straight answers yeh

Intendy:
show it to me.
Sour grape

So U no listen budget yu dey here dey run mouth abi

ohenhen1:
Nigeria has the right to re-arrest any suspect when there are new charges to be filed.

There are due process. Ie when the court says release it means release when it says detain it means detain. We are not in the military era.we must obey the rule of law good or bad.

egbej:
Apena Adeboye your analysis is a beer parlour analysis and shows you are not an economist or not properly schooled about the fundamentals and basic mechanics of the macroeconomic climate.
Let me further educate you so that you trash your analysis into the dustbin.
The current price of the Nigerian naira is systematically caused by the price shock in oil sales and the dwindling economy in Nigeria.
This issues are basically also aggravated by the slow policies by the present regime in the face of huge price shocks across the oil and gas industries to which Nigeria gets 85% of its revenue.The forces of economics is playing out here as the total receipts is less than total payments in the economy and this affects the price of Naira relative to other foreign currencies.Nigeria was using a floating exchange regime as against the pegging and fixing of price the current CBN is using to absorb the effect of devaluation in our currency.
Now to come to your support of outright ban of naira ATM card abroad,it is anti-growth strategy as this is a short term solution.I am quite aware that the CBN is using its Reserve to pay for the difference between the pegged price and the real price(black market ).That may be the reason of banning the ATM card as it can not continue to deplete its rreserve and also source for scarce dollars to pay back mastercard and visa card companies.CBN also restricted 41 types of import,ban wire transfer all this will aggregate to strangulate international businesses as our blue chip companies can not pay their merchant abroad,meet their loan obligations,buy raw materials and the economic consequences is that businesses are closing,jobs are being lost,factories are packing up.Students studying abroad are not the ones majorly affected that is why i am suprised about your analysis of only mentioning Nigerian students and encouraging the currency restrictions and ban on ATM

Thank you

asfrank:
You got the point, d problem is d@ most Nigerians are myopic, they d'nt see beyond their nose. Take the case of Kanu, he came into the country with neither of his two passports, what then would prevent him from leaving in the same manner? If his house is surrounded, people will still complain, I totally agree with the points you have raised. It will take a strong willed president, like Buhari to run nigeria, he is not ready to bow to pressure from any quarter, when the time comes for us to decide then we would, for now, the Show is his. Truly, I can not think of a better President at this point in time for Nigeria than Buhari

2 passport?brutish and Nigerian?

Tolexander:
Everyone has a right to say what ever pleases one.

I still remember Guantanamo bay, has it been finally closed down by US?

We can't mock about with the USA.look at what they did to North Korea. If we get sanctioned we are doomed.

achimotan:
I encountered some in Ottawa. When you say "those we employed",which firm or organization that employed Ghanaians and their output was below par. To quote you Anyone can claim to be anything

The firm is the NHS.and what firm employed the Nigerians in Canada who's output where below per.?

achimotan:
I encountered some in Ottawa. When you say "those we employed",which firm or organization that employed Ghanaians and their output was below par. To quote you Anyone can claim to be anything

Are we talking about your people the cleaners?

Mrstranger:
when i say outflow of naira, i mean supply of naira in the official spot (bureau de change) market is more than necessary to what is needed to maintain a stable ER. use of Naira card for foreign transactions automatically gives rise to need of forex by the concern banks to pay for such transactions undertaken by their customers and as such, they will buy (demand) dollar and sell (supply) naira. its an avenue that need to be control. people who need dollars for foreign transactions or indirect importations ( purchase of goods denominated in foreign currencies online) are more than the foreign currency earned. this certainly av depleted our foreign reserve . the only source of forex to Nigeria is through exportation and other supplementary means like sales of Gold,SDR Which are less reliable.

I wo t derv deep just cos what you started with.from where did you get the notion that Bureau de change is the official spot?they are the black market we talk about you hear everywhere.their rates are not pegged the official spot is CBN and the comeracial Banks.this is why the CBN rates is 195 and bureau de change sells at 230-240.from ur first statement I'm going to say U need to investigate well I to this issue to be well informed

achimotan:
What is the meaning of your first sentence? Is that how you were taught to construct sentence in your school? And how is schooling in Ghana a wastage?

Your Ghana brain refuse to know I'm using a mobile phone.go and earn some manners wen U r done run to 9ja forums until then stick to your Ghana forum.Nigerians studying in Ghana is as a result as easy system not better than the Nigerian system.check your doctors and lawyers abroad nd check the Nigerian doctors and lawyers abroad. See their output

achimotan:
I have also encountered some Nigerian graduates overseas and their standards are nothing to write home about.

Can I ask where you encountered them?I'm talking about those we employed not the ones you see in the buses. Anyone can claim to be anything but I'm talking about the ones with output. IM NOT talking about those doing early morning cleabing. That'seft 4 the ghanians. We shud not start thus 9ja Ghana stuff here we know where we stand.

IbXavier:
with due respect sir , i did not insinuate i am an economics expert nor did i study economics as my major. In reality , which country can have a close, especially a country like Nigeria. Ban of ATM doees not mean all source to get money out of Nigeria is blocked , it can only reduce it to an extent. Alll i post was to encourage the reduction of outflow of naira and promotion of Stuffs that will bring more inflow of naira. this can be collectively attained by Government and Nigerians at large.

Did you say outflow of Naira?was that ever the problem?it was outflow of forex or not enough forex coming in that is the problem that was the flaw in your comments

Mrstranger:
Nigeria economy is being witnessing downward trends. However, with the 2016 budget presentation by the president of republic of Nigeria, we can practically perceive change, in part, in form of economic diversification. A proof of less reliability on oil sector is evidenced in the budget which indicates that less than 15% of the budget will be funded from crude oil export.

A major economic issue, is the increasing weakening of the Nigeria currency against foreign currencies. A problem which has been decisively addressed in part by the CBN, through the new circular issue to all DMBs as regards the usage of the Naira debit card abroad or for foreign transaction domestically. As at 8 dec 2015, naira stood at #280/1$ and currently #197/1$. This is an evidence that our policy maker are actually working towards maintaining a stable economy.

According to me, this policy is a measure aimed at reduction of naira supply which theoretical is an index that influence the value of Naira. Theoretical, supply relative to demand for a currency determines its value. Nigeria is a country where we are more dependent on foreign goods due to a very big gap existing between demand for goods domestically and its supply domestically. This gap practically is fill by importing needed goods abroad. This by implication leads to supply more of naira than foreign currency earned. And i stronly believe that our only source of foreign currency is from crude oil sales in the international market and which price has falling tremendously. Crude oil is our only exported product. As such, if our spending abroad has no limit, we then must expect weakening of Naira against foreign currencies.

Though,our exchange rate is being maintained before now through our foreign reserve. In other words, CBN buys excess supply of naira with foreign reserves but these reserves has depleted tremendously. Note i percieve that Nigeria adopt both fixed and flexible exchange regime. In lieu of the depletion of foreign reserve, the CBN takes additional measure of exchange control through placing ceiling on our foreign spending.

This in the long run will result to a more viable results if the CBN endeavour to take additional measure towards exchange control and if domestic producers provide quality goods to bridge the gap between the demand and supply of consumable goods in the country so as to further reduce our spending abroad.

Mr stranger
Commentary and additions are highly welcome.

Can you kindly point me to the pre of this policies or policy 5hat is going to strengthen our Naira.plz.

cooooooks:
The most important ingredient, especially these days, is the student.

What's their contribution as students?

ELGREF:
I saw misquote on what op wrote...he/her wrote on both side,what government need to do and also masses.....

Like?

naijaFrank:
A better analysis of our situation is this;

So I have 50 litres of fuel and decide that in order to save my fuel I would stay home and not go to work. The problem with that plan is you will quickly get fired.

In this case, Nigeria has only 30billion in reserves and Emefiele is scared of depleting it so we are taking austerity measures and shutting the economy down.

The problem will this solution unfortunately is that you are burning down the house you are supposed to save, you are not seeking a means to attract more USD.

Eventually the guarded reserve will finish. Maybe it will last 3 months longer than before... But it will finish for sure...Its like putting a bandage on a gunshot wound... Youre still bleeding internally.

Now let us assume we did this.

Dont protect the naira and allow the free market to value it. I Believe it will find its rightful place at around N400 to $1.

This will set off a chain of events that we can capitalize on

1. Overseas Nigerians will send more money down to their relatives or to start businesses or buy properties because their money will take them farther... We earn dollars

2. Foreign Investors will take advantage of the weak naira to set up manufacturing or invest in businesses We earn Foreign direct investment (FDI)... We earn dollars

3. Importers will be frustrated with buying dollar at high rates and can be encouraged to produce locally by government planning and offer of incentives... We can convert experienced importers to manufacturers

Instead of closing down the forex market, How about higher taxes on imports? We take first steps to making imports expensive meaning locally produced will get priority and market advantages plus we earn taxes on the imports? Isnt that more feasible?

I'm not sure how anyone can actually support CBN policy unless they have no understanding of global economics.

The Emefiele route is the dumbest route, we should be attracting more dollars into the country not shutting down the country.. Or else, you can defend naira all you want but by taking away its fluidity and making it inconvertible, nobody will invest there and in 6 months when we eventually run out of dollar reserves it will be 2000 to a dollar.

CBN is hoping to hang tight until oil bounces back and we will be merry again. Thats a very big gamble.i can go on a new list of reasons why its not feasible...

1. Iran sanctions lifted will bring 100 million barrels more into the marketplace

2. America buying less as it is not only becoming self sufficient but will soon export and give OPEC a run for its customers

3. Chinese exports low means Manufacturing down in China meaning less consumption Of fuel

For oil prices, $30 is the new $100... We cant weather this storm until it gets back to normal. This is the new normal.

Mark my words.

U restored my hope on nairaland I thought we all went south.great insight there.I was actually thinking along the lines of devaluation to make this chain reaction happen ASAP.me I can't bear to wait for that free fall if we do dont you think it might take more than this generation to reverse the damage?

EgunMogaji:
Thanks for the detailed response. We need more of this balance on here.

Na Ijebu dey do me somehow but the footprint of the building is exactly 25 feet by 25 feet and won't break the bank to do it from the get to.

Maybe my very good friend KolaShangOne can avail me his mixer and a specific Engineer to get it done quickly

My Oga.plz if you are thinking of the capping leave it.I was going to do same.there is no cost saving and the floor is liable to fail at different sections and rate like the guy upstairs explained..I already paid a carpenter to do the capping but I took %30 of the money back.I'm doing german flooring with sharp sandfill. U kno wen U cap and raise ur walls U have to fill each room at different times nd height will differ too plus labour will differ.note they have to go wall to wall to manuaver. Might charge you more.

Jummymine:
Somebody should please answer this man.i am in the same dillemma as him.thanks

My approved plan is actually diff rent fro. What's on ground by up to %20

IbXavier:
i wrote jamb four times , passed two but did not make post jamb, therefore i felt i was wasting a productive time of my life, thus i looked for alternatives. Why i choose Ghana is another story entirely. Kindly go through my post , you will see it there that i stated that "if Govt wants to get things right , then , Govt should do things right". Our education system needs to be worked on , same as infrastructure to enhance production, then this policy will be perfect. I am not against those schooling outside but this policy is for our betterment , mind you its temporary.

The ban on ATM only affect those schooling 1%the most affected are holiday makers and exporters plus importers.

IbXavier:
as at now , Nigeria has the best economy in Africa, however more people go to Ghana to study as compared to Nigeria. Nigerians alone spend over #160b in Ghana education system. this makes Ghana better off than Nigeria with its education system, though Nigeria has better structures than Ghana.

I can tell you that's rubish I do not see any reason Y Nigerians should go to Ghana. I av seen their standards abroad.U cannot compare the Nigerian Graduates with Ghana graduates abroad