Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK - Politics (2) - Nairaland
Nairaland Forum › Nairaland General › Politics › Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK (8966 Views)
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 12:58pm On Nov 19, 2014*. Modified: 1:27pm On Nov 19, 2014 |
[size=25pt]Important Public Service announcement:[/size]It is time for youths to get in the streets and call this government to order. There is a saying that if you refuse to discipline yourself sooner or later somebody would discipline you. https://www.youtube.com/watch?v=tuCdOkf4NxQ&index=4&list=PLRzmuN0KKXK-WIR-BKAd0gBxB7YIUepyl frankyychiji: |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IYANGBALI: 1:02pm On Nov 19, 2014 |
berem:belem,belem,belem,I no get gari wey I go dey carry come for you for prison if this people arrest and lock you up o and I know say seun no go look your side |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 1:06pm On Nov 19, 2014 |
IYANGBALI:err, hope all is well oga? |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IYANGBALI: 1:08pm On Nov 19, 2014 |
berem:how do you mean? |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 1:25pm On Nov 19, 2014 |
FOLYKAZE:How is it GEJ's fault when the Northerners and Westerners have refused to engage in any productive venture but has decided to depend on oil for their revenue.The fall in the price of oil isn't GEJ's fault,we only have to find a way to diversify our economy,all of us have a role to play not only GEJ.The fall in price of oil is bound to affect the naira.Next time,think with your brain and not through your nose. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by PriceOfGarri(m): 1:26pm On Nov 19, 2014 |
NgeneUkwenu:Ngene, you're really intelligent! So corruption is what affects the Forex transactions? Our currency is crashing because 90% of our source of revenue is crashing. Ngene please answer these questions: 1. What's the value of our Forex reserve? 2. Do we make our Forex transactions with Naira? 3. What happens when there isn't enough revenue in our Forex reserve? Women and sentiments sha. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 1:55pm On Nov 19, 2014 |
I'm not an Economist, but the little I know tells me with further devaluation of the Naira, Some of us may end up losing value on our Bank savings(since we saved in Naira) My mind tells me I should withdraw a Large chunk and Buy Foreign Currency from BDCs to keep at home! Another tells me to chill and see what happens! Pls Could Someone here give me an Honest advice on the best course of Action I should take before the End of next week? Knowledge they say is Power! Thank You! |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by GBTYO: 2:05pm On Nov 19, 2014 |
IdomaLikita:If you are going to withdraw your savings to buy forex, you will be putting more pressure on the Naira as you will be increasing preference of the Naira over the dollar. The only way out is to look inward and stop depending on imports for everything. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by cjrane: 2:10pm On Nov 19, 2014 |
Good, let Nigeria DIE! After all, that is what the Janja-weed party wants. The USA is helping them see to that. In the end, those that killed Nigeria are the biggest benefactors of Nigeria. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 2:10pm On Nov 19, 2014 |
Withdraw all your money immediately and buy anything that would hold its value - even a shed or small land or furniture. Anything that you buy now you could be reselling in a few weeks or months after the devaluation has bottomed out for a far greater value. If you are a business use up any excess savings and buy stock or other necessities now. IdomaLikita: |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by TippyTop(m): 2:22pm On Nov 19, 2014 |
NgeneUkwenu:Please you will do well by comenting on topics you know about. Your statement above is not only ill informed but downright stupid for want of suitable word to discribe it. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by GBTYO: 2:23pm On Nov 19, 2014 |
GenBuhari:You are creating a panic. If everyone does what you are advocating, Banks will crash. The only growth you will have will be in the real estate sector and that will sooner or later crash which is by far the worst form of economic collapse. My only advice is to invest and save what you have. In the long run the economy will stabilize. Mind you, the only guys that will feel the heat directly are govt contractors who depend on govt spendings. Other sectors will also but this are guys way down the trickling table |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 2:39pm On Nov 19, 2014 |
Who care if the banks crash? GBTYO: |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 2:50pm On Nov 19, 2014 |
PriceOfGarri:Whos fault is that? When oil prices were up Algeria had its budget as $35 dollars benchmark and was saving $73 on every barrel, what did Nigeria do with hers |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 3:03pm On Nov 19, 2014 |
This high dollar exchange rate will be of benefit to those receiving payments in dollars. It myt be difficult for those buying stuffs online and selling them locally as nigerians want cheap products. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:05pm On Nov 19, 2014 |
GenBuhari:. Thank You Sir! But We've not been too lucky with Lands! The few We've acquired in the FCT haven't really appreciated as much as expected! Furniture? (No space to store them)! I prefer something I can easily dispose of when things stabilize and I need the Cash, that's why I considered Forex(since I could just walk into a BDC and change)! I'm talking about a Million Naira Plus Sir! So more suggestions would be welcome! |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 3:06pm On Nov 19, 2014 |
Buy gold or silver IdomaLikita: |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:11pm On Nov 19, 2014 |
GBTYO:I agree with you Sir, but if my effort at looking inwards and not depending on Imports alone isn't replicated on a Larger scale by Nigerians, I would still go ahead and lose my Savings! I'm not an Importer or a Forex Earner! Just an Honest Nigerian earning a Modest Income who doesn't want to lose what he has worked so hard for! |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:15pm On Nov 19, 2014 |
GenBuhari:In form of Jewellery Right? |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:16pm On Nov 19, 2014 |
GenBuhari:Thank You Sir! I'll set about it ASAP! |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 3:17pm On Nov 19, 2014 |
jewellery is fine or if you want buy gold nuggets or coins where you could find them if possible. IdomaLikita: |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by GBTYO: 3:18pm On Nov 19, 2014 |
IdomaLikita:and you will end up robbed of everything unless you have ahigh security vault in your house and you are not chicken sh1t to give them the combination to it |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 3:22pm On Nov 19, 2014*. Modified: 3:46pm On Nov 19, 2014 |
You are very welcome. You are the type of fellow that should be trusted with the future of this country. Very few of our young people think about planning ahead for tomorrow. IdomaLikita: |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:24pm On Nov 19, 2014 |
GBTYO:I'll take my Chances Sir! Sitting Idle and watching my Hard-earned money lose its value isn't exactly Heroic! |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:27pm On Nov 19, 2014 |
GenBuhari:Honestly, even the Jewellery Market isn't something I understand! I wish I knew a Place where authentic Gold Coins are sold in Nigeria! |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by IdomaLikita: 3:28pm On Nov 19, 2014 |
GenBuhari:Honestly, even the Jewellery Market isn't something I understand! I wish I knew a Place where authentic Gold Coins are sold in Nigeria! Thanks all the same! |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Ttalk: 3:28pm On Nov 19, 2014 |
PriceOfGarri:Many people are just defending without no justification, you said govt expenditure depends on oil revenue, why was dollar remain stagnant at oil peak when the price of oil stood at $108 for most of 4 years of Jonathan government? Yet during this period external reserve has been severely depleted to defend our weak naira. The point is simple, government is not getting economic policy right, unfortunately there is little anybody can do to salvage the situation rather than result to prayer that the price of oil should shore up |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by GBTYO: 4:14pm On Nov 19, 2014 |
Ttalk:The oil revenue is simply not enough to support all our imports. If the naira was revalued upwards you and I know that imports will increase at the detriment of any local production. We need to get our acts together and start looking in wards. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by tit(f): 4:32pm On Nov 19, 2014 |
IdomaLikita:you are damned if you do. you are damned if you dont. suppose you buy gold. then the economy bottoms! who will buy your gold? who would care about gold? the price of gold will be low in a depressed economy too. if i say buy commodities and you do then the economy bottoms. the price of commodities will bottom too. and perhaps, agricultural output will increase, since people will be forced to go back to farming to survive. what nigeria needs is to invest in power generation and distribution, like her life depends on it. how i wish someone like Elumelu had a track record of using private funds successfully. Independent of government and insider trading. if we had such a successful, honest, pragmatic peerson, small investors like you could cluster around building feasible power plants and refineries. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by Nobody: 5:00pm On Nov 19, 2014 |
We need ensure Buhari becomes next president if we are to see any meaningful improvement in electricity power generation and distribution. GEJ has been unable to fix it. tit: |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by wirinet(m): 5:16pm On Nov 19, 2014 |
PriceOfGarri:I concur that Okonjo Iweala is the worse finance minister ever. And i have tons of reasons. She is practically in charge of Nigerian economy as the co-ordinating minister of the economy. It is her job to structure the economy against shocks like this. That the Nigerian government is still dependent of oil revenue four years after being in charge of the economy is a testimony of her incompetence. To make matters worse she is talking about saving for rainy days. Can she predict how long the rains would last? What if the rainy days last for years or even decades. It is like a man saving for rainy days when he is making lots of money. How long do you think the saved cash will last when he stops making money? The most sensible thing to do is to invest excess money and hope to live of the the investments when the rainy days come. This is what countrys like Kuwait, Qatar and UAE did. They do not sit on excess oil money saving for rainy days. These countries have so much investments locally and internationally that even if their oil wells dry out, they would still be wealthy. And to think this is the thinking of a havard trained, world bank economist. |
| Re: Fresh Air:Naira In Free Fall Against Dollar May Reach N200 To A Dollar This WeeK by emiye(m): 5:39pm On Nov 19, 2014 |
N65 to N97 per litre. Were are the refineries ? These fools while removing petroleum products subsidy in Jan.2012 should have invested in building refineries to meet local needs, Those refineries, they can later privatise or commercialise At least, we can stop importing refined petroleum products, petroleum products importation must be taking a large chunk of the total imports. Daft leaders ! |
Nassarawa Lawmakers In Free For All Fight • Naira Fall Against Dollars: Sold At N241 Per Dollar - This Is Outrageous • Nigerian Visa Goes For A Dollar In 13 Countries - Punch • 2 • 3 • 4
Ezekwesili Slams Buhari, "You Are Accustomed To Losing Your Citizens" • Unprofessional Photoshopped Images Of Buhari In Japan • Numbers To Call For Human Rights Violations In Nigeria - Titilope Gbadamosi