₦airaland Forum

tete7000:
If those who keep their wealth in dollars have such power, it only means they are the same people who controls the economy, the same people in power.

Checkwell:
I no too dey understand this man. Where is he even from, sef?

DeltaBachelor:
It is such a shame , if this is true. Chai. Na wa o

Checkwell:
I no too dey understand this man. Where is he even from, sef?

dre11:
https://leadership.ng/rewane-pegs-nairas-true-value-at-n1257-says-currency-undervalued-by-11/

bunmioguns:
N1,257 sounds theoretically sound using Purchasing Power Parity, but the 'Nigerian Factor' and our heavy reliance on imports always create a gap between theory and reality. If we can't fix productivity and crude oil theft, 'fair value' will remain a dream on paper.

atobs4real:
I thought as much. My company peg the exchange rate at ₦1, 400

dalass:
The crude/ refined oil cost which used to take our dollars out was the main culprit. But now, our crude and refined oil products are attracting forex inflow, so the dollar should naturally come down against the naira

Princedapace:
Without science and sound agricultural system, nigeria will never achieve development, even if she taxes are citizens 80 percent of their personal income and other taxes.
Invest in sound education and prriotize science, makers agriculture attractive for young people. Take one thing ur citiznes import a lot, call ur professors in ur FG universities to round table talk, tell them who ever has the framework to replicate that will be given grant, and good money. Let them go to do their research, produce a prototype, mass produce it, gradually, ur citiznes will start using that insteead of importing. Get lands and give out for free to certain age bracket solely for agriculture, provide the incetive for the business and let them pay gradually back at good rate.

Jeezuzpick:
Who are the people who bring in the most Naira and spend the most Dollars?

The politicians, of course!

Tgini:
brother you are late to the party , a lot of young people are already investing in agriculture. i have a friend who has invested over 150 million in agriculture in the last 3 years , i also have another friend who exports tons of cashew nuts and sesame seeds. everything no be government, agriculture na business at the end of the day .
while some people are waiting for government to spoon feed them others see opportunity and invest. The only thing government can do is give agricultural loans to already established farmers . My guy collected over 50millon in agric loans last year. There is no how nigeria won't import , we cannot produce everything we consume, the most important thing is to balance our trade deficits, export as much as we import .

sacajawea:
Your company is who? Or what?

Princedapace:
Hahahaaha, people like u make me laugh. Govt is not spoon feeding anyone. The duty of govt all over the world is to make the environment conducive for business to strive.
U mentioned u have a friend who has done this and that, then why is ur naira falling? It is trading almost at 1500 today. After all the gragra by gvt, it still failing. Do u know why? Ur country is poor in manufacturing.
Without electricity, there cant be strong manufacturing base. The people u mentioned are like drop of water in the ocean. U need strong Science driven society to achieve development.
Can u produce smart TV in mass? Can ur society convert ur raw materials into finished goods?
Farmlands have been raised and destroyed by herdsmen, that is a big issue. I can get killed in my farmland, my investments can be destroyed by cows. These are the issue. Gvt needs to fix these things, they are paid to do so, but they wont and people like u think people are lazy? Nigerians are among the most hard working set in this life. If i tell how I grew my self within the past 5 years, u wont believe. Not many countries have such hard working citizens. Nigeria govt failed her people

Tgini:
Glad to see a sensible comment , we also need to increase are non oil exports to attract more forex inflow . The naira will gradually come down to its real value over time not that foreign reserve backed 200 naira to a dollar we had in 2014 .

dre11:
https://leadership.ng/rewane-pegs-nairas-true-value-at-n1257-says-currency-undervalued-by-11/

Checkwell:
I no too dey understand this man. Where is he even from, sef?

bunmioguns:
N1,257 sounds theoretically sound using Purchasing Power Parity, but the 'Nigerian Factor' and our heavy reliance on imports always create a gap between theory and reality. If we can't fix productivity and crude oil theft, 'fair value' will remain a dream on paper.

Wumi261:
Impressive!!

It's just funny to how the country's economist even the other financial regulators can't make proper adjustments.