Yes bros, the cost of Dollar shouldn't be an issue if we are not so import dependent,and as long as inflation is managed.
Most Asian nations deliberately devalue their currency in order to force their citizens to think of local production and export.

WisdomFlakes:


Are you telling us that you would rather the naira continue to lose value relative to the dollar instead? Don't just make Stu.pid statements all coz you supprt Gudluck. Use your brain for once!

I just registered on nairaland just to commend your post!
About the most briliant response to those with little or no knowledge of economics. M

PapaBrowne:


Are you serious Your speech just gave you off as someone who lacks complete understanding of Economics>



Illiteracy no be moi moi oh!! Ha! So if someone tells you he will equate the value to the dollar you would just swallow it hook line and sinker??
What were you doing when others were attending Economics class??

For the Naira to be equal to the dollar, you would need to see our dollar reserve rate go to something like a trillion dollars!! Even with 20 years of 20% economic growth rate, we would probably not be there!!


Now the bigger lesson for you is that a very strong Naira is not good for our country especially if you want to produce goods and export competitively..
Now let me explain that to you:
A bag of Dangote cement sells for 1500 Naira.
When the dollar was 160 Naira, that bag of cement was equal to $9.
At the new rate of 215 Naira, that same bag of cement is now equal to $7.
That means if Dangote wants to sell his cement in Albania, he has a better price point than he would have had 5 months ago.

Now imagine the Naira is exchanging at 5 Naira to a dollar.
That same bag of cement would now be equal to $300. Where on planet earth would he be able to sell his bag of cement at that price??

Any country that desires to produce and export to the rest of the globe, prays for a weaker currency to allow its goods better pricing amongst competitors. If Buhari understands economics, he will never pray for a very strong Naira except of course he wants us to keep importing everything!!

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arctic,

What products are u interested in from china?

Am based in Vietnam but do business in both country, perhaps i can be of help to you.

kompletebizltd@yahoo.com

Greetings to all Nairalanders'!

Its fun being here, i enjoy all the discuss, its enlightening and educating truly.

This is my first posting here, and i am compelled to because i am an eye witness to the pain,humiliation, frustration and dehumanization our people go thru in the name of travelling and living abroad!

I work and live in Vietnam,legally of course,and the level of influx of illegal Nigerians, who have no business travelling abroad is annoying!

More painfull is the pathetic story they tell of how much they spent getting visa and coming here,with promises of Jobs and greener pastures that dont exist!

Because they were not prepared for the challenges of living abroad much less Asia,they end up sleeping outside and engaging in things that take our already muddled reputation as a Nigerians down the drain, so much so that if not for Business purposes, am almost ashamed telling people am from Nigeria!

I am Compilling names of Names of "AGENTS" and unscrupulous individuals in Nigeria who route people to Vietnam with 'promises' of Jobs, i intend to expose such ones soon!

The truth however, is that with the level continous rot,decadence and downward decay Nigeria is slopping into, i dont blame anyone getting out, but you only enjoy the conveniences when you are LEGAL.

Its not easy anywhere in the world.

All the best Guys!