₦airaland Forum

PETERiCHY:
A Way Forward
It is now evident that the naira is overvalued and will continue to depreciate unless the supply-demand dynamics are adjusted and the domestic manufacturing industry becomes competitive on the international front.

First on the list is subsidy removal. Removal of the fuel subsidy will reduce the import bill by 21% as well as the importation of refined crude products, as importers will have to bear the cost of oil price volatility and exchange rate depreciation.

In conclusion, the weakening of the naira is partly as a result of internal imbalances arising from import dependence, an uncompetitive manufacturing industry and over-reliance on oil for foreign earnings. Taken together, if these issues are eliminated simultaneously by removing the fuel subsidy, encouraging the manufacturing sector and adopting a free floating exchange rate, the naira will be on track to recovery and trading at a fair value.

http://www.proshareng.com/news/28317.html

We are not far away from adopting a free floating exchange, it is inevitable. Emefiele's argument is very very weak, he will eventually face the current global economic reality.

Kazakhstan (oil producer) scraps its currency Trading Band, Moving to Free Float . The local currency dropped 23% against the USD ! #Bloomberg

We will soon wake up to such news ! !

we have to thank the CBN Governor for adding more uncertainty to this bear market. In the middle of a major oil price war where Shale is holding the Wake-Keep of OPEC. Our CBN Gov believes the Naira is not overvalued. The delay in doing the needful will push prices lower. #

Its indeed a long term investors dream since the Feb panic attack opportunity.

A blessed and fruitful week ahead people

I think the index is clearly heading to 30,000 levels and possible lower.
The question is will it find support or will we see another new low?
YTD Bottom was the memorable Friday - Feb 13 when Index closed at 27,585.
We wait and see

Agbalowomeri:
Targeting Access at 3.80, UBA at 2.60, Fbnh at 4.55, GTB at 12.15, Zenith at 9.0, stanbic at 7.0

Unity Wema Sterling Fidelity Skye Tufiakwa!!!

Ambitious prices but dreams can come true ! We wait and see if the bears can create new 52_wk lows below Feb levels.
#Holding #cutlass #too

cash or transfer ??