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Nairaland Forum / Nairaland / General / Business / The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo (8547 Views)
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Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Calylove: 8:11am On Feb 19 |
Nice analysis by the Prof. See my advantages and disadvantages of a depreciating currency below. Tell me which you prefer. Advantages and disadvantages of a depreciating currency: Advantages: Export Competitiveness: Advantage: A depreciating currency makes a country's exports more competitive in the global market. This can boost exports, as foreign buyers find products cheaper in terms of their currencies. Economic Stimulus: Advantage: Depreciation can stimulate economic growth by increasing demand for domestic goods and services, both domestically and abroad. Reduced Trade Deficit: Advantage: A depreciating currency may help reduce trade deficits, as the country's exports become more attractive and imports become relatively more expensive. Boost to Tourism: Advantage: A weaker currency can attract more tourists as the cost of visiting becomes cheaper for foreign visitors. Debt Repayment: Advantage: For countries with significant foreign debt, a depreciating currency can make it easier to service and repay debts denominated in foreign currencies. Disadvantages: Import Price Increase: Disadvantage: A depreciating currency leads to higher import prices, which can contribute to inflation. This can be problematic for countries heavily reliant on imports. Higher Inflation: Disadvantage: A depreciating currency can lead to higher inflation, impacting consumers' purchasing power and eroding real incomes. Increased Cost of Living: Disadvantage: As import prices rise, the cost of living for citizens can increase, particularly for goods and services that depend on imports. Uncertainty and Volatility: Disadvantage: Currency depreciation can lead to increased uncertainty and volatility in financial markets, affecting investor confidence and economic stability. Capital Flight: Disadvantage: Investors may move their capital out of a country with a depreciating currency, fearing further depreciation and seeking better returns elsewhere. Negative Wealth Effect: Disadvantage: A depreciating currency may negatively impact individuals' wealth, especially if they hold assets denominated in foreign currencies. It's essential to note that the effects of a depreciating currency can vary based on the economic context, the country's specific circumstances, and the degree of dependence on international trade. Additionally, a controlled and gradual depreciation may offer some advantages while mitigating certain disadvantages. |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by ZaddyJ: 8:13am On Feb 19 |
seunlayi:Why ? |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Edusouls(m): 8:14am On Feb 19 |
This is just the beginning of tinubulation una Dey cry 😢 this way , it’s just 9months we still have 3years and 3 months to the next election by then the remaining ones won’t even have energy to wail again, ebin pawa ooo reloaded pro max is now, coming soon is reloaded master max, then the final phase is reloaded ultra max |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by optimusprime2(m): 8:15am On Feb 19 |
The Naira is at the mercy of global market forces... at this stage nothing really can be done to immediately stop its decline. All solutions or theories postulated now are nothing but cheap talk because it is far too late. The situation has to just run its course till it plateaus and hopefully everyone survives it... |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by malali: 8:15am On Feb 19 |
Let the truth be told. The Naira has not had value in a long while. Its similar to a leaking roof, its raining and you keep patching the roof, when the roof has 1 million leaking holes. The money meant to fix the roof in the past was being looted by politicians with the help of Emefiele. Instead they were patching the roof. Its better to remove the whole roof and put install another modern roof. However if you remove the roof, rain will soak the residents. Tinubu removed the bad roof, thats why the rain is beating Nigerians. The rain will even get worse, because the rainy season just started....Hopefully he will install a stronger more durable roof to last us many years. THATS WHAT THE PLAN IS, LETS SEE IF TINUBU DELIVERS. 1 Like |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Johnjustice: 8:15am On Feb 19 |
The floating of the naira is a bad idea, I wonder what the president hopes to achieve by floating naira. Ill advice, this dollar floating will destroy Tinubu's reputation, destroy Nigeria and our economy. Mr President policies are for the good of the people, stop following IMF dictates and advice they are all about their interest, all those envoys coming to Nigeria from USA and UK are coming here to preserve their interest which is killing our economy. Stop trying to impress IMF and foreign bodies. Nigeria can survive on it's own selling to itself, we can work with Asia and other African nations, we don't need the West, they need us. |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by MT: 8:16am On Feb 19 |
Ogiame: So are the economic indices the same with Jonathan regime? Okonjo iweala openly said that Jonathan lacks the political will to save for rainy day. If he had saved, Nigeria would have had cushion at this time there's weak inflow of dollars. The Jonathan you referenced was part of the problem. I also wonder why a so-called professor writes like an illiterate. Was it tribal or she was genuinely confused? Most Nigerian professors are only subject matter experts in their fields, take them out of it and they sound unintelligible. She studies law but obviously deficient in economics 1 Like |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by MT: 8:17am On Feb 19 |
Johnjustice: So tell me, what exactly are you selling apart from crude oil that is bringing in dollars for Nigeria? 3 Likes |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Ogiame: 8:20am On Feb 19 |
MT:After asking all these questions about people who made you buy rice for N8,500 per bag against your brother's N63,000, try drink Water. 2 Likes |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by LordBillionz: 8:21am On Feb 19 |
Ogiame:And funny thing is that they didn't have this excuse when they protested against Jonathan. Dummy fossil. 1 Like |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by MT: 8:23am On Feb 19 |
Ogiame: What have you brought into the discourse apart from your tears? Tinubu should go and manufacture dollars in excess to satisfy your undying appetite for foreign goods. Right? Your currency has just found it's true value, deal with it Jokers 3 Likes |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Ogiame: 8:24am On Feb 19 |
MT:Is it not your brothers crying E bi pa wa morning and night? Chief defender of Tinubu. Clown 🤡 2 Likes |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by pendragonbladgo(m): 8:25am On Feb 19 |
This is the only way forward.... No going back on subsidy. Naira should be left to trade it self naturally without padding.... Enough is enough, if you want better Nigeria, add your input, let's grow Naira by ourselves, let's enhance local manufacturing and agriculture together. If you and me can today say, importation should be totally halted - we win!!! 2 Likes |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by SoNature(m): 8:25am On Feb 19 |
ValCon888: This concept doesn't happen anywhere in the world. Business men run companies while politicians run countries and states. The biggest problem of Nigeria is that the country is too diverse, evil and complicated to agree to a definite pathway to progress. Bring those Fortune 500 CEOs into Nigeria, and they will run back to their country in three months. Yes, the Nigerian military did it to the US Army when the latter wanted to help Nigeria fight Boko Haram. You have no idea the amount of negative energy that flows in your country. 1 Like |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by alimiadedayo1: 8:26am On Feb 19 |
BobbieZion:even though I am not in support of Tinubu or Apc but yorubas are smarter than igbos if that is what you want to here.. we are not talking about trade and commerce petty intelligence.. Go and check the the key industries for you to see key actors in that field.. Tech, innovation and education..Because Tinubu failed don't invalidate the importance of yoruba in this different niche |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by MASTERCHIEF0847(m): 8:27am On Feb 19 |
greenermodels: 1 Like |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by RightChannel: 8:29am On Feb 19 |
Prof. pls stay away from this, let them enjoy emilokan in peace |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Ogiame: 8:30am On Feb 19 |
MT:See Mr. literate throwing insults everywhere. 🤡 2 Likes |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by nedekid: 8:30am On Feb 19 |
seunlayi:Are you minding the halfwit? |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Ebubu2: 8:31am On Feb 19 |
Ogiame: |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by alimiadedayo1: 8:31am On Feb 19 |
malali:your brain is totally damaged even though they are paying you 30k that doesn't mean you should not have conscience.. You are saying total rubbish with disgusting illustration or analogy.. you don't sound intelligent useless human being.. Don't worry the day they kidnapped your family, God will give you the grace to make that analogy again useless human being.. I am yoruba by tribe but I am a mad man like you, if things is going wrong we should say the truth not converting the truth with lies 2 Likes |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Ebubu2: 8:31am On Feb 19 |
Ogiame: |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Ebubu2: 8:32am On Feb 19 |
NOGRUDGES: |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by malali: 8:35am On Feb 19 |
alimiadedayo1: Thank you. God bless and heal you. Previous governments were subsidizing dollar at 1.5billion dollars every month. How is that sustainable ? Smuggling in food with subsidized dollars, no tax, no chance for growth of local production. We are still praying for your mental health. |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by BobbieZion(m): 8:45am On Feb 19 |
alimiadedayo1: Swerve!!! I am not Igbo. Don't be shallow minded. |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by OmoGomesIlorin: 8:46am On Feb 19 |
#BanBureauDeChange |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by yahmohy27: 8:46am On Feb 19 |
MASTERCHIEF0847:Including you na ,no problem |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by infofta(m): 8:49am On Feb 19 |
Where is Wole Soyinka? 1 Like |
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by VeeVeeMyLuv(m): 8:50am On Feb 19 |
optimusprime2:Why is the currency CFA Francs used by all the wAfrican & C.African countries surrounding Nigeria not declining/depreciating? is their economy not similar to ours? We even produce more than them. |
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