₦airaland Forum

By BusinessNews Staff
Although foreign loans are attractive for their single digit and low interest rates, the continued depreciation in value of the naira against major foreign currencies has turned them into a huge burden for borrowers in Nigeria.

The naira currently exchanges for N197 to a dollar at the official window and N320 at the parallel market.

Investigations by our correspondent revealed that Nigerian firms that borrowed dollar denominated loans were facing the risk of foreclosure on assets pledged as collateral and loss of credibility among creditors.

It was gathered that whereas some of them took credit facilities at a time when the dollar exchanged for N150, now that the currency is exchanging for N320, the cost of servicing the loans had now gone up by 100 per cent.

Although the losses would have been less if some of the firms were able to service the loans at the official exchange rate of N197 to a dollar, the Central Bank of Nigeria had in the wake of the sharp drop in crude oil prices embarked on forex rationing measures, cutting off most firms from access to the official window.

The survey conducted by PricewaterhouseCoopers showed that over 60 per cent of companies in Nigeria recorded huge declining sales/revenue as a result of the forex rationing policy.

Read more@http://www.nairausd.com/2016/04/dollar-scarcity-firms-struggle-to-repay.html?m=1

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tombravo:
are u sure you are a blogger? send me a pm, u are asking what pm means.

We learn everyday

Mediapace:
Send me a pm

Meaning please

With all this rules l try to avoid though I do copy and paste only but my blog is not progressing, Why?

Help me out bro

My email=ifyan.ia@gmail.com

Mediapace:
There are times when we make mistakes and we don't even know,we all make misakes and we are bound to be corrected.
These are the mistakes new bloggers make that defame their blogs :
1.Spamming :
It is the act of flooding the internet with many copies of thesame message inorder to force it on people and increase topics count.If you are already doing this thinking you are safe or you are unknowingly doing it,it will really affect your s.e.o. Ranking negatively and backfire later in the future when applying for adsense. Please stop it!
2.Copying and pasting : This is the act of transfering articles from other websites be it forum or blog to your own blog. You can't be a successful blogger without going through a lot of stress. A LAYy being can't be a blogger and it is only one palm that doesn't decieve. You can,t stay there and be copying other bloggers work and expect your blog to progress. Some New blogs even go to the extent of not giving credit to original writer,let's just don't mention names,It will also backfire when you want to start making money with your blog.
3.Diverting to other Niches :
This is a serious mistakes most newbies in blogging makes,flunctuating like Nepa does is not the best to get traffic to your blog,you post something today on technology and tommorow Tonto dike's news,it's wrong when it is not a general niche,google want to know exactly what you are operating on and when things related to your niche are being searched,your link pop up.
4.Adding Excess image :
When your blog is not on kid stuff,it is not advisable for you to add excess image,it is only kids that lie images,adding excess image increase your website's load time which scare users away,try reducing images per page
5.Buying free domain Names or using subdomains :
There are many free domain names like .TK .ML .CO.ZA e.t.c.
Using them now,you may be happy because they are performing same functions like that of .com .org .ng,the day you will regret bro. Those dealer will just forward it to other websites that pay them.
6.Not adding social media share buttons : New bloggers find it disgusting adding social media share buttons,they don't know the uses. Adding it gives you the opportunity to share with your followers on social media followers.
7. BUYING Traffic : How will you be buying traffic those guys are selling bots for you!! If you buy traffic,will you buy comment . Stop that criminal act bro and sis!
Writer : Mediapace/Ayobami

What can I say

Despite her makeup she is still hmmmm

Exchange For Euro To Naira, 30th Wednesday March 2016

http://www.nairausd.com/?m=1

Exchange Rate for B Pound-Naira,30th Wednesday March 2016

http://www.nairausd.com/?m=1

Exchange Rate Of Dollar To Naira, 30th Wednesday March 2016

http://www.nairausd.com/?m=1

francondu:
combine praise and criticism,it will make them to perform better

Yes but at the right time

Hmmmm.

Eboski:
I am still waiting to see the other tribe take over Ojota freedom Square.......

Guy you funny

No economic policy on ground

Retailer Truworths Throws in Towel on Biggest African Economy

Buhari's Defense of Naira Chokes Imports, Spurs Black Market

The promise of Africa’s biggest economy has turned to peril.

Companies drawn to Nigeria by the prospect of a population bigger than Germany and Turkey’s combined are retreating; those staying have publicly criticized the president, a military strongman in the 1980s who came back to power via an election last year; and foreign investors are pulling their money out.

The corporate tribulations that began with a slide in oil prices and accelerated after the imposition of capital controls are also entangled in a global emerging-market slump.

In propping up the naira in a futile bid to contain inflation, officials have jacked up pressure on an economy running out of cash, deepening a black market in currency trading and causing shortages of imported goods from fuel to milk. U.S. officials said they will press their Nigerian counterparts to change tack during talks in Washington this week.

Frustration too.

After four years trying to gain traction, Truworths International Ltd., a South African clothing retailer, last month gave up. It closed its last two outlets in Nigeria, in the southeastern cities of Enugu and Warri.

Willing to tolerate dilapidated infrastructure, complicated red tape and expensive rent, the company said the import and foreign-exchange restrictions caused it to throw in the towel.

‘Impossible’

Nigeria’s appeal has faded as the price of oil, source of 90 percent of export earnings, has crashed. Growth slumped to 2.8 percent last year, the slowest since 1999, and will decelerate to 2 percent in 2016, according to Morgan Stanley.

In dollar terms, the economy in 2019 will still be 17 percent smaller than its 2014 peak of $542 billion. Only two years ago, McKinsey & Co. said Nigeria had the potential to grow 7.1 percent annually until 2030 and build a $1.6 trillion economy.

As Nigeria lags, other countries in sub-Saharan Africa have gotten more appealing. Last month, Nigeria fell from first to fourth, behind Ivory Coast, Kenya and Tanzania, in a ranking of business prospects by the research unit of Nielsen Holdings Plc.

Portfolio investors including Aberdeen Asset Management Plc and Ashmore Group Plc, which together oversee about $450 billion of assets, have retreated from Nigerian markets. The main stock index is down 10 percent this year, while the MSCI Frontier Markets Index has lost 2.8 percent.

Nigeria’s local-currency bonds are the only ones among 31 emerging markets tracked by Bloomberg to have generated aloss this year. Foreign direct investment this year is set to be the lowest since the 2008-09 global financial crisis, according to data from the central bank.

For now, President Muhammadu Buhari and Central Bank Governor Godwin Emefiele say they aren’t budging from their strong-naira policy. While both acknowledge that businesses are struggling to source enough dollars, Buhari says that a devaluation and easing of capital controls would be akin to “murdering” the naira and send prices up.

That’s already happening as manufacturers struggle to buy foreign inputs, with

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I don't think he intentionally keep mean face.

That is his natural smile face

When Nigerians hear the word CHANGE next time

Hmmmm l just imagine how they will react

I have said this before Nigerians are the one to blame for any damage caused by Nigerians in this country because almost everyone are part of the damaged system we are right now

NavierStokes:
Hehehe I think imagination-land seems like a good place for Femi Adeshina to have suggested to Nigerians, rather than asking them to go fight with vandals.

Bia bro use layman English

Nothing sensible has been achieved. Only what they are known for has been achieved.

You know.....

Funny. With dedication within 1000th yrs ÷100=

ZZ22:
Lol this what you see a when a ruling party has gone totally clueless...
.
Back to the question... Never have i enjoyed 24hr power supply in every part of Nigeria i have been to and this is a clear indication that Nigeria after her 55years of independence is not working and thus need to be regionalised or dissolved ASAP..

To be sincere l have experienced it.

In my imagination.

Hmmmmm true talk bro

NobleAngell:
Well, ever since you got into power, 24 hours light has become history. Thanks for asking though.

True yarn sis.

In short it has become a rocket science for Nigeria to attain 24hrs electricity.

Between APC and fish who think far better. If it's is the former or the latter.

It's left to you.

Nigerians need to stop praising the government for their job instead criticise them bitterly for their wrong doing but praise them for good performance after their tenure .
Because at early stage they performed well but at the end its another story that touches the heart.

Nigerians be wise

eyeview:
I wish him the best cos he came into office on the back of many wrong assumptions. So he needs to prove pundits wrong.
This is one governor(and wike) that I admire

He was part of it.

Don't fall victim for this

But to be sincere Nigeria as a whole need to make everyone productive in the workplace not breeding lazy men and women.

Most of them don't care about the job but only interested in the pay. This is the bitter truth about government job

Is Sylva better. But all the same both are similar.

Kai! My people see watin Bayelsa don do to themselves

Why does our government of this days love pictures?

Why if l may ask

Oh! Oga of the top is master to it

Why does our government of this days love pictures?

Why if l may ask

Oh iga of the top is master to it

Slayer of APC& PMB government.

But wait did l see N7B for 2km of road and bridge.

Polithiefcian hmmmmm

Nigerians use your head

Why is APC like this. Every now and then you save this, you save that.

Tomorrow we have technically defeated petroleum scarcity.

Kai! May God help and save us from the SAINT AND UNCORRUPTABLE PARTY.

You know. .......

Acjohn:
with the any things are going Buhari too would soon see the need to give GEJ an award for good governance.
If you are in support say I

True talk