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The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo (8547 Views)

See Why The Nigeria Naira Is Rapidly Depreciating Against The Dollar / Naira Keeps Depreciating Against USD / Are We Going To Keep Watching As Bdc Operators Devalue Our Naira Further? (2) (3) (4)

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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:

Stop
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:
One naira is equivalent to 0.40 CFA.... Imagine the insult!!!! This was not the case throughout the administration of GEJ.

However, when you oppose Chief Bola Ahmed Tinubu's demonic and poverty-inflicted policies, his supporters will argue that Yooukay, Franzzzz, and Singapoor are also experiencing recession and difficulty.

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:
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 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.

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:


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 a 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 a subject matter experts in their fields, take them out of it and they sound unintelligible. She studies law but obviously deficient in economics
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:
One naira is equivalent to 0.40 CFA.... Imagine the insult!!!! This was not the case throughout the administration of GEJ.

However, when you oppose Chief Bola Ahmed Tinubu's demonic and poverty-inflicted policies, his supporters will argue that Yooukay, Franzzzz, and Singapoor are also experiencing recession and difficulty.
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:
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.

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:


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
Is it not your brothers crying E bi pa wa morning and night? Chief defender of Tinubu. grin


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:
I have said this before and I'll say it again.
We don't need presidents. We don't need elections or even government.

Extraordinary situations calls for extreme measures. Nigeria is close to a comatose state and needs urgent resuscitation.

We need to dissolve executive and legislative government. The system of government we are practicing is too expensive for the amount of money we are earning.

We need to urgently appoint the CEO of a Fortune 500 company to run this country like corporation with a mandate to bring it to profitability within 5 years.

He/she will be allowed to come onboard with their team, and they will hold executive and legislative powers to create laws and execute policies without bureaucratic red tape.

Short of a dictatorship or dissolution, this is the only radical solution for now.

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:
Tinubu no sabi anything.

I am telling the South West that shouting that you are smart does not mean you are smart.
When you always look down on people from other places with the superiority mindset.
This is the best you guys can bring from the West.
We na no get level.......you people's own is to be shouting forming woke and sophisticated.
Shame on you guys Men.
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:
Kerosene and gas is too expensive to cook grass,so they would resort to eating raw grass.
grin grin grin

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:


You are still not making sense.

How can you debate intelligently when you refuse to go to school? Your container business is part of what is putting pressure on the naira.

Ain't you tired of wailing? You don't even know the economics behind all these occurrences. Bloody illiterate.

I won't wrestle with pigs so as not to get stained.
See Mr. literate throwing insults everywhere. grin


🤡

2 Likes

Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by nedekid: 8:30am On Feb 19
seunlayi:

Stop misquoting him. He was trying to illustrate how alleged stealing is different from corruption charges.
Stealing - you will catch the thief with the physical stolen items which may lead to jungle justice to some whereas in corruption charges, the culprits may be playing hide-and-seek, denial, using the judiciary to corner justice and may even dodge sentence at the end of the day.
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:
One naira is equivalent to 0.40 CFA.... Imagine the insult!!!! This was not the case throughout the administration of GEJ.

However, when you oppose Chief Bola Ahmed Tinubu's demonic and poverty-inflicted policies, his supporters will argue that Yooukay, Franzzzz, and Singapoor are also experiencing recession and difficulty.
grin
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by alimiadedayo1: 8:31am On Feb 19
malali:
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.
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:
People that has signed a life long contract with suffering and pains will wake up to reality?



If Tinubu still comes to the podium to lick microphone again at the next election, they'll still vote for him.
grin
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by Ebubu2: 8:32am On Feb 19
NOGRUDGES:
Tinubulation don enter Enugu o

Subsidy is gone

Somebody post that dance wey BAT dey dance go back
grin
Re: The Fast Depreciating Power Of Our Naira, Which Way Nigeria? - Prof Ezeilo by malali: 8:35am On Feb 19
alimiadedayo1:

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

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:

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

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:

Don't worry by the time they will start feeding on cooked grass they will wake up to reality.
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:
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...

Why is the currency CFA Francs used by all the wAfrican & C.African countries surrounding Nigeria not declining/depreciating? grin grin grin is their economy not similar to ours? We even produce more than them.

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