₦airaland Forum

chuksfor13:
sorry, its 2 late

bugzbunny:
Scratched face fool...
Don't die yet cos igbos will takeover dat house.. Get used to it..

chuksfor13:
I have a dream, That one day an igbo man will be the executive governor of lagos state

BALLOSKI:
They celebrate thieves .

benedictnsi:
114 roads 19beeeeliiiioooniii

How many roads dey lagos sef
Chai, to be governor sweet ooo

chino11:
Ranting of a dunce.

Obi of Onitsha is the most influential and most powerful KING in Igboland. His dynasty is over 500yrs which makes Onitsha the oldest city after Lagos, because Ajayi Crowther berthed in Onitsha. Accept these FACT or go and kill yourself. Choose one


[s][/s]

greenguy:
The problem with we Nigerians is that we always think western. We want to do things the civilized way but never realise civilization will always mean different things in the African and western context. This is the root of all our problems. Ambode should stop flexing muscle and let LASTMA do its job. Their style may be crude, but that is the level of our civilization.

moshino:
Me and my entire family and the entire SE are next, starting tonight, watch-out for car accident, armed robbers, falling containers, wild animals, drowning etc.

alcmene:
Why protest on land that has probably been sold by the elders

cruise14:
It's unfortunate that the refugees back then are now claiming to be the owners of a place once set up as shelter and refugee camp for them.

Atlantian:
Why should someone worry about something that is bound to happen ? Every married man and woman will at one point have sex with someone other than their partner #Fact.

Bevista:
I agree with the CBN policy at the moment and have spoken in their defense in various fora. However, we need to appreciate that this is only a stop-gap measure. If there are no right Fiscal Policies to ensure that there is local production to supplement the suspended items, then the inevitable will occur - the CBN will have to reverse itself and go back to option 2 (devaluation) or we face production cuts from these manufacturers.

Production cuts will lead to job losses, lower profits, lower taxes, lower supply contracts, etc. All these will deepen the economic slowdown and might ultimately lead to a recession. Remember, the CBN governor has warned that we might enter into a recession if things are not done quickly.

TonyeBarcanista:
Yes, the IMF has always been for the first group for unserious countries (like ours) that always run to these people to help get 'sharp sharp' investors. The guys at Bretton Woods are businessmen and not jokes. Don't be fooled with their sugar-coated words.

For any country to grow, they need to attract the second group by putting together formidable team to come up with sound fiscal policies that will attract this group(second). Once that is in place, the first will have no other choice than to invest in the economy without the country sacrificing their value.

At present, no such policies exists! This leaves us at the mercies of IMF's dictates in order to get 'investors'.


God Bless Us

Bevista:
In the face of dwindling Forex revenue (due to falling oil price), the options available to the CBN include, but not limited to:
(1) Dip into the Foreign Reserve to meet dollar demand
(2) Depreciate the currency to curb demand
(3) Suspend certain items from accessing dollars
(4) Borrow dollars (SDR) from IMF
(5) etc.

We have already pushed option 1 too far and if we continue, we'll soon run out of reserves. Not having dollars to fund imports and payments would have far reaching consequences.

Option 2 appears most ogical and the lesser evil, but there are political reasons for not exploring that option - a new government has just come in. This option will cause inflation and economic hardship, so the new govt does not want to become unpopular so quickly.

Option 3 is a form of capital control and is usually frowned at by foreign investors. This may also hurt local manufacturers who depend on foreign raw materials for their manufacturing/production. If they can't access dollars to import raw materials, they may have to cut operations with attendant job losses.

Option 4 is a no go, since the country would have to deal with so many crazy conditions from the IMF.

In my opinion, the CBN governor is practically holding the economy (using option 3) all by himself to buy time for the president to constitute his cabinet. On two different occasions, the CBN governor has stated the need to have Fiscal Policies to complement Monetary Policies. This, to me, is an indictment on the president for not having his Economic Team in place.

If things do not improve quickly, the CBN governor might switch to option 2 to prevent manufacturing from suffering.

I am a huge supporter of the president, but on the economy, his performance is short of being abysmal. Yes, his blocking leakages, ensuring accountability, ensuring prudent management, etc. But these things can run concurrently - they are not mutually exclusive.

sherrylo:
If its for Odua tokantokan den its fine but let no agbalagba osi Oni jekuje come and play PDP script for us oh.

Awa Yoruba gbon ju be lo!