Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,158,205 members, 7,836,011 topics. Date: Tuesday, 21 May 2024 at 07:10 PM |
Nairaland Forum / Nairaland / General / Politics / What Osinbajo’s Call For Naira Devaluation Could Mean For The Future (22366 Views)
Senate To Invite Emefiele Over Naira Devaluation / Osinbajo: Call For Secession, Fastest Way To Extinction / What Osinbajo Told Buhari On Phone Before Sacking DSS Boss, Daura (2) (3) (4)
(1) (2) (3) (4) (5) (Reply) (Go Down)
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by madmohamed(m): 12:26pm On Oct 12, 2021 |
RiceProducers:animal |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by eldoradoxx: 12:31pm On Oct 12, 2021 |
An import dependent country that produces nothing and imports everything will be on its way to Zimbabwe if we further devalue. What we don't have is sound mind in APC government. They should understudy how PDP managed to hold the naira to official rate of #197 to a dollar until 2015. Again the Nigerian citizens are terrible people who prefer foreign currency to their own local currency. That is why half of young men and women in Nigeria have found job in selling dollars thereby driving up the value of dollar against the naira resulting in the hyperinflation of today. If dollar is given to only those who have need for it; for their foreign transactions our naira will have value. But what we have is a large number of unpatriotic citizens that would convert their naira to dollars and keep it in their savings. The increase in demand for dollar (by those who actually don't have any transaction requiring forex) results in the torpedoing collapse of naira |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by ibro360(m): 12:32pm On Oct 12, 2021 |
richmond500:Tell them abeg |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Lightway: 12:33pm On Oct 12, 2021 |
TheRareGem1:That's what devaulation mwans Mumi |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Lightway: 12:33pm On Oct 12, 2021 |
TheRareGem1:That's what devaulation mwans Mumi |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Caseless: 12:38pm On Oct 12, 2021 |
TheRareGem1:you know what this will lead to, that's what the writer is trying to make you see. Osibanjo did something with the Naira when Buhari was away, has that solved our problem? We're back here again. |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by ezekins: 12:38pm On Oct 12, 2021 |
rontolo: It's unfortunate that you still don't reason in the right direction. I assume you are a Nigerian but you easily buy the position of our politicians as if you are a foreigner. Has naira not been devalued before and what became the resultant effect. Cbn should review the operation of domiciliary accounts in Nigeria because it's become a tool with which they use to hoard Fx in Nigeria. why should people be banking dollars , euro pounds in Nigeria. This will be my last reply to this. People should reason independently. 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by don4real18(m): 12:50pm On Oct 12, 2021 |
TheRareGem1:Lol. If you understand what devaluation means, then you would know that was what Osi meant. |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Badguy77(m): 12:51pm On Oct 12, 2021 |
Devalue watin no get value? Issokay |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Nobody: 1:01pm On Oct 12, 2021 |
This professor is MAD. |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by SeppSmart360(m): 1:04pm On Oct 12, 2021 |
TheRareGem1: What's the difference between what VPs intention is and naira devaluation? Or alternatively put, how can we achieve that aim without devaluing the naira? Just an honest question. |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Krismas(m): 1:08pm On Oct 12, 2021 |
TheRareGem1:Wots d difference? A revaluation of the Naira not due to market forces but manual adjustment. Thats wots devaluation 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Agboriotejoye(m): 1:32pm On Oct 12, 2021 |
Don't mind osinbande. He's just playing to the gallery. Imagine claiming that the CBN is doing intervention that he needs not to do as if he doesn't know that it's on the instructions of Bubu. Emefiele was chosen by GEJ to replace the boisterous Sanusi because he's known to be good at being a Yes-boy who ruffles no feathers. It's why Buhari has retained him as well. Osinbajo is just being a bully who is picking on the weakest dude in the room. Why hasn't he called out the AGF who has made a mess of the law repeatedly. At least he can claim expertise in that regard. Why hasn't he called out the obviously clueless minister of finance who is sitting there while CBN does her job for her. Osinbande should gerrat!! 2 Likes |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by seguno2: 1:35pm On Oct 12, 2021 |
SmartPolician: So we should continue to be import-dependent economy? Why can’t we be sincere with ourselves, from top to bottom, to limit our tastes to what we make ourselves, or can afford from the proceeds of what we sell to others? Is that rocket science What kind of vehicle are our president, VP, senate president, HoR Speaker etc using 2 Likes |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Agboriotejoye(m): 1:35pm On Oct 12, 2021 |
Krismas: Warning!! You're quoting an osinbajo asslicker 2 Likes 1 Share |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Agboriotejoye(m): 1:36pm On Oct 12, 2021 |
seguno2: Patriotism is not an economic policy anywhere in the world. Not even in Communist China |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by kay29000(m): 1:37pm On Oct 12, 2021 |
TheRareGem1: Exactly. 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by kay29000(m): 1:37pm On Oct 12, 2021 |
Shooyie: Exactly! There are a lot of people making millions from that loophole. 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by seguno2: 1:38pm On Oct 12, 2021 |
Agboriotejoye: What does America First mean 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by seguno2: 1:39pm On Oct 12, 2021 |
kay29000: Is Osinbajo’s boss concerned about that, or he is behind it for “Abacha” reasons |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Agboriotejoye(m): 1:40pm On Oct 12, 2021 |
eldoradoxx: You're very correct jare |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by InvertedHammer: 1:43pm On Oct 12, 2021 |
/ Suck talk is to prepare people psychologically for what’s cooking. I still expect $1:N1000 by the end of Buhari’s tenure in 2023. / 2 Likes |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Agboriotejoye(m): 1:44pm On Oct 12, 2021 |
seguno2: America first is a foreign policy not an economic policy. Obama and goons turned the US to father Christmas and Jesus all rolled into one. Remember when Trump became president, he told all NATO members they have to start paying their share of NATO bills instead of US shouldering it alone. It will surprise you that same Trump actually ran an expansionary economic policy instead of the frugal ones the GOPs are known for. |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Krismas(m): 1:44pm On Oct 12, 2021 |
ezekins:U are daydreaming? DOM accounts are no hoards. The banks are trading with the FOREX in ur DOM. Its helping with liquidity of hard currency. Some of those currencies in DOM are from relatives abroad. Its augmenting FOREX for the nation. Wots causing the current parallel btw Dollar official and Dollar black market is scarcity of Dollar. The solution maybe to re-invite BDCs or force banks to provide FOREX beyond PTA and beyond $1000 to support imports. 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by abokimallam: 1:46pm On Oct 12, 2021 |
The Vice President knows that Nigeria is an import dependent country since all the governments I knew since I became adult,has been preaching diversification, yet they do nothing. All they are after is oil money which is quick to get without any commensurate investment. Today, I suspect that 50 percent of Nigeria forex earnings is used for fuel importation. Why should the naira not be under pressure. I would advise the Vice President to look at the history of naira devaluation since 1975 and point to its impact on the economy. However, my advice is that Government should be ready to denominate workers salaries in DOLLARS along the line of the devaluation since almost everything consumed in Nigeria is imported. Economics is not Law, Mr VP. Leave economy for economists. |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by SmartPolician: 1:52pm On Oct 12, 2021 |
seguno2: Huncle, why did you leave out the second paragraph? FYI, as far as this government is not ready to fix power, the cost of producing in Nigeria will always be higher than the cost of importation. Just like Amanda Ngozi-Adichie asked German chancellor Angela Merkel, everyone should be asking what happened to the agreement this yeye government signed with Siemens to provide electricity. |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Krismas(m): 1:55pm On Oct 12, 2021 |
SmartPolician:Get over it! Siemens was an official bribe 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by GeneralPula: 2:19pm On Oct 12, 2021 |
SmartPolician: People won’t get poorer.. I think this means the highest currency should be reduced to probably a 100 or 200.. Soludo also said something like that during PDP rule, but they removed him.. |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by SeyeMan(m): 2:20pm On Oct 12, 2021 |
dre11: Poor article based on total misconstruction of simple English. The VP said CBN should allow the Naira reflect market value. That simply means CBN should no longer peg Naira value by any means whatsoever, but demand and supply in the currency market to prevail. All these analysis is off tangent coz the premises is wrong 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Hassanmaye(m): 2:28pm On Oct 12, 2021 |
Emu4life:All is correct but not central bank the governor studied finance |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Hassanmaye(m): 2:29pm On Oct 12, 2021 |
Emu4life:It has never in history for a non economic expert to govern cbn 1 Like |
Re: What Osinbajo’s Call For Naira Devaluation Could Mean For The Future by Hassanmaye(m): 2:29pm On Oct 12, 2021 |
safesurfer:Are you teaching in a secondary school |
Greenfield Students: We Didn’t Expect Bandits To Kill Our Children – Parents / Abia PDP Gave Themselves 108,000 Votes In Obingwa Against 9k – Alex Otti (Video) / Fani-kayode Congratulats Aregbesola For Defeatin Omisore “Convincingly"
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 57 |