₦airaland Forum

ADSP116:
Like you are the only one telling us the plain truth,let me use Benin republic as a case study,this is a country that is well known for exports.I can not boldly tell of any commodity that the little country with no tangible natural resources have to export which earns them dollars in other to maintain the CFA status quo, still, for many years CFA always stand it's ground against the green backs.But Nigeria with humongous dollars we earn through petrol and other commodities we export abroad our currency has been nosediving at a level we have never experienced before...l think at this level our politicians need not to be economic with the reality.

uba1991:
stop blaming anybody. Blame the government. There policy is responsible and if there are other criminals printing money as you want us to believe then it is the responsibility of the government to fish them out.
Since Tinubu came to power no one foreign investor come to the country rather multinational companies are leaving the country.
What is the qualification of the CBN governor?
Aside from being a Yoruba man and also working as commissioner of budget and planning in Lagos state when Tinubu was the governor. Those are the two reasons why he was appointed CBN governor.

EponObi:
Can you please mention the countries? I want to take note. Thanks

EponObi:
There's nothing like counterfeiting. What you see is simply the pressure of the demand for dollar.

The CBN unifying our exchange rates and the FG removing fuel subsidy are only two solutions to our three elephant problems. In fact, those two are the simplest to solve.

The biggest elephant is our trade balance. Imagine a country with over 200 million people not producing anything internally and only have to resort to buying things we need from other countries, down to toothpicks. That's one hell of a demand for dollars. And we import every day. Every single day.

The naira will continue to nosedive until it find a balance/equilibrium where our demand for foreign goods equals our demand for dollar. What the CBN and FG is banking on to solve this problem is that demand for dollar will keep on increasing, while naira crashes until we get to a point where people can't afford the imported derivative of goods and start buying local derivatives. With demand now shifting to local goods, the demand for dollar will reduce and naira will pick up strength from there. With the increasing demand for naira and people now favouring local alternatives, this would jump start local manufacturing and production in the country.

These are theories they are banking on. Will it succeed? We shall see.

Tinubu wants to make imported goods insanely expensive that people will start running away from them to local goods.

Our situation is like a vehicle without a driver that just started running down a hill. You can't stop, it's already in motion.

ExudeLoveToAll:
In this case the counterfeiting gives birth to original notes and not fake notes, fake notes can be expunged as quickly as possible because of security features on the features.

This problem is getting out of hands, the CBN should do the needful. This is not funny anymore.

nurey:
All this one you are talking will.not work, Nigeria will crash just a matter of time, I am not a pessimist though but time to pray has gone, it's time to wake up and survive. It is only agriculture that can save Nigeria big time currently as long as insecurity is still not tackle and we aren't producing and exporting anything other than crude oil, we are heading for doom.

nurey:
Are you just waking up

As far back as 2012 there was clamor that tens of ship birth in Nigeria waters loaded with goods, but leave our shores with empty container.

80 to 90% of our earnings is oil, other earnings like mining, forest reserves and mineral resources other than crude are been smuggled out by our leaders.

All the farmers don japa from bush including as fulani marauders no gree make we farm in peace.

In other words Nigeria is living above its means currently.

Buhari killed Nigeria by printing 22trillion naira without tagging to any productivity. A serious gov will damn all consequences and pick Buhari up and enslave him and his generations seizing anything tied to that cursed name.

Questionnaires:
It Must Be Sold.

You Don't Expect Business Men To Run Their Industries As Charities.

However; The Prices Are Skyrocketting Too Much !