₦airaland Forum

GoodGovernance:
Your use of English does not suggest you are more intelligent than others.

Anyway, the logic behind the floating of the Naira,is for it to attain its natural market value,whether high or low,such that CBN would no longer further deplete our forex reserves,defending the Naira from falling.


The depletion of the forex reserves was boosted by the fixed rate regime,because CBN was supplying forex from the reserves,to meet up with the excess demand.

But when you float the Naira, the excess demand for forex ,would be automatically curtailed on a daily basis,no need for CBN intervention.


The more productive and less import dependent the economy becomes,the lower the demand for forex and thus the higher the value of the Naira.

It is a marathon race and not a sprint.

It's too bad and I pity you because your yardstick for measuring intelligence is English. I used pidgin in my comment, didn't that tell you that I'm not here to blow grammar, but to state the fact!!

Naira cannot rise if Nigerians continue to depend on imported goods. If we do not export more products to boost our fx reserve, if there's no favourable government policies and amenities to encourage production and consumption of locally made products.

Una be the same people wey hail tinubu when he said that the CBN should print more currency note during COVID-19.

See as u dey blow grammar as if u know jack about economics even if they like make Dem float naira till eternity, naira will not appreciate against USD if dollar continues to be scarce and the demand for dollar still high. USD is scarce because we don't export more to boost our reserves, the demand for dollar is high because we import more ( this even includes going abroad for education and medical care) and we import more because government policies (including lack of social amenities) do not encourage local productions.

You said floating of naira will curtail excessive demands of USD on a daily basis WTF
If Dem handle FX scarcity first by exporting more and encouraging local productions, then automatically the excessive demands for USD will be insignificant.

Floating of naira is good but the timing is wrong, there are no shortcut to this type of thing, taking shortcuts will make good policies to be counterproductive.

Many people in this forum is unintelligent and daft, y'all think you can buy dollar over the counter inside banks ? SMH!!
1. Naira has been devalued
2. Dollar is scarce because Nigeria is still importing more, and common sense should tell you that if a commodity is scarce, and there's high demand for that commodity, the price will skyrocket,
3. Nigeria depends on nothing more than crude oil to bring in FX, our Reserves has depleted because of mismanagement from previous government.

Now tell me how naira will appreciate?
Nigerians na who do una this thing?
Even some people you think is intelligent is daft!!
SMH!!

DiscoverID:
The day this fool will comment on terrorism happening in his village, that day I will start taking him serious.

You are the biggest fool here for supporting misappropriation of public funds

I remember when Jonathan wanted to remove it years back, so that I will be sold at 145# many senile old hag and young zombies kicked against it, but now petrol is selling at 350, yet they've not removed the subsidy!! All this APC zombies are brain dead, sense is far from them.

Wawelexy:
You will eventually loose both of them..

This is the fact

Pandev:
Yes, e be alien 👽

Barims:
Ooni and obasanjo aren't age mate and the obasanjo prostrated before the ooni. So what's your point?

Obj is from Yoruba, oni is not a king in Igbo land. How would you feel when a king or titled man from Yoruba prostrate to other king on a neutral ground such as a party ground? If una Oni wants to be always revered and worshipped, he should also stay amongst his subjects, do you even know what a titled man, or a king/ chief or red capped chief means in Igbo land? Una always want make other tribes adhere to una culture at the detriment of their own culture.
Whatever the oni is in Yoruba land, don't extend to Igbo land or other tribes. I repeat an Igbo man only bows to his chi.

I don't know why some Yoruba people think that other people's culture and traditions is subordinate to Yoruba own, Igbo man only bows to his chi!!
This is a clash of culture, besides is Pete edochie and una Oni mate?

Cromagnon:
You're the denier liar
What did buhari do
Did he change oil price
Or start Ukrainian war?





What was he supposed to do?
Are Nigerians not Responsible for Nigerians?



Whose fault?
Do you even know why it's expensive or you're just looking for who to Pass blame to?

and destroy local production completely then you starve once there is famine in importing country and they stop supplying you?

Penny wise pound foolish

Comment long sense none!!
This kind of comment shows how daft some people can be.

Obinoscopy:
As a statistician, I've always believed in the powers of deductive inference based on sampling.

INEC has uploaded over 94% of the Presidential Results on the IREV Portal. Now there are people who believe that the result announced by INEC is significantly different from the result uploaded on IREV. I decided to randomly select result sheets from IREV and collate. The sample size was 314 result sheets. That sample size was gotten from an online sample size calculator. Click on this link to see my research protocol: https://www.nairaland.com/7614305/statistical-analysis-inec-result-irev

The result is very interesting.

RESULT
So after collating the result sheets from randomly selected 314 polling units, APC got a total of 15394 votes. LP got 10430 votes. NNPP got 2613 votes. And PDP got 11533 votes. So APC got the majority of votes followed by the PDP, then LP and finally NNPP.

This means INEC declaration is in tune with what's uploaded on IREV. However I noticed that the result for Rivers State is very strange. My collated result shows LP has more than 4 times the votes gotten by either APC or PDP.

So in conclusion, the IREV result is almost exactly what INEC declared. The only discrepancy is that of Rivers State. I might have to inspect that of Rivers State even further in my next analysis. But despite the Rivers State discrepancy, APC won fair and square based on the results on IREV Portal. I say this with 95% confidence.

Whether the results from IREV is authentic or not is a matter for another discuss. My focus was just to use the results I saw on the IREV Portal.

Which sample technique did you use? As a statistician u are, why did you use 314 result sheet to judge a population of more than 150k size?
This your analysis is next to bullcrap.

Chikacha:
About 47%.

Actually It's between 82% to 83% not 47%

Yamiriflathead:
The Senate Presidency should be zoned to the north too instead of the SE

SE don't need it, it won't stop the fact that we Igbos will continue to progress, thrive and still be more successful. So keep all the power to yourself.
Power sometimes is a curse, take a case study of the regions who have handled power more in this country and see how well they are doing.

From experience bro, stop using any gel, oil, lotion or any so called pimple clearing cream, all of these will make it worst, drink plenty of water, avoid rubbing or scrubbing ur face often, use soap that doesn't have too much fragrance and stick to using one soap product, avoid drinking all these sodas eg Pepsi, coke etc and never pop the pimple, do this you face will be free from pimples.

After all the rigging and thuggery Obi still won Lagos

Sweetberry123:
My igbo brothers are just too emotional when it comes to politics, they are not rational at all. So I didnt expect much from them. But my SS neighbours, I didn't expect this at all from them cos I always tot they were more experienced politically. Common 25% to buy roasted corn, dem no give us. If Tinubu becomes president na SE go suffer pass, una go see am. They will cleanse Yorubaland of the Igbos. Foolish people. They will allow one man deceive an entire region, same way Kanu came and deceived them. Gullible people.

Tinubu will never win!! Igbos experienced marginalization during this buhari regime, yet Igbo are still the most prosperous tribe. No marginalization can pull a whole tribe down!!

Karleb:
You people should stop this rubbish that you are posting.

Is it only igbo that have voted LP.
If only igbo have voted Obi, will LP have these numbers?

C'mon!

Most of them saying this nonsense are not Igbos, they say it because they enjoy Igbo and Yoruba banters

Iamgrey5:
Yoruba Obidients can see the true colors of Obidients now that election is over.

Obi has not even been declared president yet or winner in Lagos.

All the Falz and Mr Macaroni can see the true colors of the Obidients and true intentions is to take over Lagos.

Is obi a tribal president? Why not ignore that brat and focus on the candidate that will make Nigeria better

temitope27:
ASIWAJU will ease our troubles

Just like buhari he put for power eased the pains of Nigeria?
When una go get sense sef
It baffles me how Nigerians are the architect of their own problems.

Oshiomole and portable fine pass this guy na

Hi everyone, please I need a reliable account auditor, who will audit an account statements for a client, location is Onitsha and Asaba
Thanks.

Felabrity:
Bayern will teach the short goat a lesson next month

Pendu fans always shifting the goal post
I pity pendu fans Sha

This psg coach is wicked, he subbed Leo, just to insult Ronaldo and show that Messi shouldn't be playing this crappy match

I don't see anything wrong in helping your wife to buy stuffs in the market, doing dishes and even cooking sometimes, na ur wife she be, not ur maid.

madridguy:
No be only herdsmen na herdsladies So you never sabi the different of our own sarki here and the PDP sarki on twitter that always tweet nonsense to chase clout.

APC will rule Nigeria for another 50 years.

Mark my word!! APC will never win this 2023 presidential election
They only place APC will rule is ur plastic mind!!

PointZerom:

No be small pepper so teyyyy. Omenka Passingshot Liondeleo Python1 Sarki Madridguy and Ngeneukwenu ran away due to accumulated hunga

Bro u know them Wella, all of them don see shege!! , Sarki wey herdsmen kidnapped him bro

spice123:
My brother, I hardly comment on issues on this simply because of wrong perception but I will share my own experience.
My wife chats with her ex from time to time which I am fully aware right from the time we started dating till we married (her ex is married now). I've equally had a WhatsApp call with the guy in one or two occasions (friendly talk). I've come to build some rapour with him.
When this guy came to Naija I and my lovely wife went together to visit him. You see eh, everything in marriage is maturity. As it is we're planning vacation to the States sponsored by this guy. I'm a PROUD SIMP but I'm still in control.
With the way you're going with full blown Alpha male attitude, you will loose your wife. Thread carefully!

Simple man
That man have made u his cuckold

CodeTemplar:
When the news of this printing leaks out, local producers who feel cheated will naturally inflate the goods and merchandise to reflect the rumour of the currency printing and that is guaranteed to bring inflation to them.

I pointed out that printing a lot of money will result to inflation from my comment.
So we are both saying the same thing.

frowland:
and what happens when the USD starts loosing it’s hegemony as currently observed (SA, China, Ghana, Russia, India and counting?

Yes talks are in motion to replace or reduce the USD monopoly on international market by Brics members, but many other countries are yet to affiliate with the idea.

frowland:
OP contextually, each American citizen is owing 75 million naira equivalent. Just saying.

USD is the most accepted currency in the world, if they wants to pay their debts, they will print more dollars without backing it up with assest like gold etc.
Though this will cause inflation. Nigeria can't do the same, who's gonna use ngn on international market?

buygala:
Lol....

Pesin wey fine don fine.. Fair, white, green, yellow or black

This is the most simple and yet mature answer

TristanX:
And why did a child like Mbappe win the World Cup years before your Messi was rigged to win it?

For your information World Cup isn’t a true definition of a player. Afterall u after Mbappe won the World Cup, u guys never agreed he was a better player than Messi even when Messi hadn’t won it yet.

This fangirls can sound dumb all the time wtf are u saying sir?

TristanX:
Allow the man conquer another league pls. He loves challenges

Oga let's be honest, this one is not challenge, this is a result of cr7 not being able to get a deal in Europe.