₦airaland Forum

YourNemesis:
Common sense is not common.

BEN BRUCE TOOK IT ALL....Monkiiii

naija

What is Father trying to achieve?

I already have Jesus to bear my cross....I don't need another!

I suppose he is bearing his own cross!!!

Amaechi na person?

Them go don kwench her kuncha bad

eph12:
Increased reserve does not automatically mean better rates. Demand and supply determines that. If our economy is 90% internally sustainable that is we don't have to import as much as we currently do $ will automatically fall in value because people wouldn't need it that much. When price of fuel goes up is it not always because of scarcity? Same with other goods. But when there is surplus in circulation the exchangers will have no choice but to reduce their rates. And it can only be surplus if the government pumps $ into the system or if people don't need it anymore.

Thank you my brother! YOU GO SCHOOL

It is when there is surplus that the government can now start buying the surplus $ to raise the reserves.

9jakohai:
China and Switzerland also have far more sustainable means of earning dollars and other forex for their economies...unlike Nigeria whose forex rises and falls with the oil price.

China in particular relies heavily on manufacturing to bring in the dollars......so they have the dollars to throw around so to speak. Nigeria hoards dollars because we do not have enough of them right now...thanks to the current oil price fall...and the fact that our industrial system...even during the best of times...does not export much, if at all.

E be like say na only me and you dey this thread!

Back to your point.

The adverse effect of hoarding the dollars is creating a catastrophe on the masses. Surely there are ways of harnessing more fx...e.g those on Diaspora bringing in dollar...they policed that avenue.

Control on multiple exchange rates ....A licking policy that needs urgent patching

The issue of oil, how about building functioning oil refineries so that we use our oil here in Naija and sell any excess to gain more fx. Rather than have our ailing economy anchored to dollar/oil volatility which will always have a negative effect on our economy because we dont have any amour to play in this global market.

Imagine China having a reserve of $3,051,600, 000,000,000 and we have just $26,000,000,000....what leverage can we ever have on such a playing field.

We should tackle our internal problems first...instead of throwing spaghetti on the ceiling with our policies to see which one will stick

Them go don kwench her kuncha bad

We all have the same brain capacity.

They have used theirs and are providing jobs for millions of people.

Good for them

I will soon enter the list....DONT HATE ON US

9jakohai:
CBN is buffering the naira....by restricting dollars.

If CBN started allowing dollars to flow...by now naira official rates would be $1 to N1000 and above.And our foreign reserves would be extra lean.

All boils down to the fact that by relying on oil...we are not having a sustainable source of forex

.

Your explanation is the other way round!

Hoarding the dollar will only make it scarce and hence appreciate the dollar agains NGN even more.

When china or switzerland wants to bring down the dollar, they sell more dollars, flooding the market with dollar thereby driving the price down.

Dont forget that the major players trading USDNGN are not on the global platform but in our own black market hence hoarding the dollar makes no sense,

9jakohai:
The more dollars we have, the easier it would be for us to pay for imports, and to buffer the value of the naira.

How can you buffer the value of Naira when the CBN adopts polices with the adverse effect.

How can you have more than 5 different exchange rates that encourage arbitrage and you are talking about buffering....

Guud

BUT ALL ARE IN THE NORTH!!

WHY


South and eastern Gov...make una show una selves small

Chai....

SO I SENIOR THIS BOY??

sarrki:
Your hero took us here

Our amiable and focused president is trying to bring us out

So be patient

DONT FORGET YOUR HERO STARTED THE JOURNEY IN 1983!

I am sure you don't understand the purpose of foreign reserve.

Your CBN is fetching water with a basket.

For each $26b saved, with its policies, $100bn is lost via arbitrage as a result of the multiple exchange rates!!!

Chicken change for a nation....

Even $1trillion cannot get out out of this mess

UK spends £159bn a year on ordinary benefits we are rejoicing over $26bn foreign reserve...

For us to have saved $26bn...that means over $50bn has been embezzled by politicians with CBN connections

Borehole is 450k maximum!

how many boreholes are they sinking with N3.98bn please?

daviesblaze:
wetin concern biafra and this one nko

GERRAT OF THIS THREAD

These are our colonial masters.

If Biafrans cannot bench mark their actions, then what governance are we practicing?

There is nothing shocking their.

If you are been marginalized, pack your load and go.

Yet you people don't want Biafrans to go...

CONFLICT OF INTERESTS!!!

KASALA GO BURST OOOO

While amending suit, make sure you add a clause for OIL SPILLAGE/

Niger Deltans can no longer earn their living through fishing and farming due to excessive oil spillage.

Small oil that they poured in the ocean in America,,,,they charged BP $20billion

Our stupid government is looking for toy $200million+ interest.

mtcheeeww

Nigerians over criticize as if they dont have skeletons in their closets.

LEAVE THIS GIRL ALONE.

Very nice news.

Power should be given to the state or region where the resource is found

Small small the puzzle is falling into place.

Nigeria should operate as 4 or more countries even if they have to report to 1

Too many cultural differences under one state....talk less of 1 country

You give Mr A, Mr B says .." why didn't you give me first"

How can this country ever function as one.

Small small...the truth is coming out

Allow them do their peaceful rally....Nigerians need truth and insight from every angle.

Youths are beginning to question things...


Even if Biafra does not succeed in the long run,

small small...people will see sense in splitting this country into 4 or more....remove the overall power from the federal governments as this has been a disaster.

try something new...let each region have its own government and report to one government....from BOTTOM UP and not the TOP to BOTTOM we are suffering from now.

Something remotely similar to UK.

Each region control their income, and develop as they wish...in accordance with their regional capacities and resources

500bn for restructuring.....RESTRUCTURING is just a word....

I hope this amount is not for restructuring of politicians pockets?

Education and professionalism is overated in Naija.

You are better of taking short courses here and there to become a baba in your field instead of spending 4 years in UNI only to become and idiot graduate without a job.

To add salt to the injury...you want to spend 2 more years doing professional course?...only to finish without getting a job?


If your have foresight, you will include the institute of farming as the number 1 professional course because that is where the future money makers will come from in Nigeria.