₦airaland Forum

Must Nigeria make transactions with USD?, what's bad in using China Yuan for our transactions

You guys keep fighting yourselves instead of making suggestions of What could be done to reduce this Geometric progression of Almighty Dollar at the expense of our Naira.

Shioor, Sorry case...

Noted

aare07:
Once to everyman and nation comes the moment to decide; in the strife between truth with falsehood, for the good or the evil side.” J. R. Lowell, 1819-1891, (VANGUARD BOOK OF QUOTATIONS,VBQ, p 254).
For great nations, the choice comes once or, at most, twice. For Nigeria, the choice had come several times. And, the fact that, today, the failure of a country which was more advanced than South Korea, Malaysia and Thailand, among others, in 1965, is unanimously attributed to the lack of purposeful leadership is an indictment of the leaders as well as the followers.
To the best of my knowledge, nobody had been elected into office, either at the Federal, or State, level who had not enjoyed some significant measure of support. Even when the votes were supposed to have been rigged or bought, with “Stomach Infrastructure”, fellow Nigerians had been involved in the deals. Nobody alone can impose himself on a nation of 170 million people. As Joseph de Maistre, 1751-1820, in VBQ p. 80, has warned us, “Every country has the government it deserves.”

Buhari and Jonathan
So if Nigeria, a potentially rich, but, actually poor country, has a government in which a Minister can purchase two bullet-proof cars, at inflated prices, that is what we deserve. If another Minister can spend billions of naira leasing a jet for her official use; and, then go to court to stop anyone from asking questions, because her “boss” never did, that is what we deserve too. If the BOSS himself runs a Presidential Airline with nine aircrafts, while the Presidents of France and Brazil and the Prime Ministers of Japan and Britain manage with one each, that is what we also deserve.
By contrast, we now have a challenger, who was a former Minister for Petroleum Resources (he leased no jets) and a former Head of State (no Presidential Airways then). Yet, he could state, without fear of contradiction as follows: “While others who have occupied those same positions have grown mysteriously rich, I still live on my army pension. I own no foreign bank accounts, I own no companies profiting from government contracts.”
To me the difference is clear; as clear as drinking tea or coffee with milk; or drinking mud water. Let those who had become mysteriously rich explain the source(s) of their wealth to Nigerians – including how much tax they paid on them….

is that the answer to the op question. of pauls letter to the corinthians

Firefire:
The truth of the matter is, during Oil boom what did our government at all level did to re-invest the surplus? NOTHING!

They all waited impatiently every month to collect their share of national cake without thinking of diversification into non-oil investment.

You are very correct...since the discovery of oil we have abandoned every other sector of the economy. Everybody economic plan is based on oil, oil and oil alone. I really do hope that oil price will keep falling until governments at levels sit up and face the reality of the day. The problem of Nigeria is not how much naira is exchanged to the dollar, but reducing our importation while developing other sectors of the economy.

aare07:
Once to everyman and nation comes the moment to decide; in the strife between truth with falsehood, for the good or the evil side.” J. R. Lowell, 1819-1891, (VANGUARD BOOK OF QUOTATIONS,VBQ, p 254).
For great nations, the choice comes once or, at most, twice. For Nigeria, the choice had come several times. And, the fact that, today, the failure of a country which was more advanced than South Korea, Malaysia and Thailand, among others, in 1965, is unanimously attributed to the lack of purposeful leadership is an indictment of the leaders as well as the followers.
To the best of my knowledge, nobody had been elected into office, either at the Federal, or State, level who had not enjoyed some significant measure of support. Even when the votes were supposed to have been rigged or bought, with “Stomach Infrastructure”, fellow Nigerians had been involved in the deals. Nobody alone can impose himself on a nation of 170 million people. As Joseph de Maistre, 1751-1820, in VBQ p. 80, has warned us, “Every country has the government it deserves.”

Buhari and Jonathan
So if Nigeria, a potentially rich, but, actually poor country, has a government in which a Minister can purchase two bullet-proof cars, at inflated prices, that is what we deserve. If another Minister can spend billions of naira leasing a jet for her official use; and, then go to court to stop anyone from asking questions, because her “boss” never did, that is what we deserve too. If the BOSS himself runs a Presidential Airline with nine aircrafts, while the Presidents of France and Brazil and the Prime Ministers of Japan and Britain manage with one each, that is what we also deserve.
By contrast, we now have a challenger, who was a former Minister for Petroleum Resources (he leased no jets) and a former Head of State (no Presidential Airways then). Yet, he could state, without fear of contradiction as follows: “While others who have occupied those same positions have grown mysteriously rich, I still live on my army pension. I own no foreign bank accounts, I own no companies profiting from government contracts.”
To me the difference is clear; as clear as drinking tea or coffee with milk; or drinking mud water. Let those who had become mysteriously rich explain the source(s) of their wealth to Nigerians – including how much tax they paid on them….

is that the answer to the op question. or pauls letter to the corinthians

Firefire:
The truth of the matter is, during Oil boom what did our government at all level did to re-invest the surplus? NOTHING!

They all waited impatiently every month to collect their share of national cake without thinking of diversification into non-oil investment.

this is the problem of the nigerian economy which people are overlooking. all the 36 states of federation have no economic agenda on ground to make their state self sufficient and yet everyone put the blame on fg. What has state govs done with their allocations for 4 years? No tangible investment in the resources available in their states both human and solid .

Sincere9gerian:
Like their father, the devil, Buhari and his disciples have been telling wicked lies since 1804.
However, unlike in the past, Sincere and patriotic Nigerians will make sure they do not get away with their lies this time.

i love topics like this, it gives undecided and confused voters like us enough opportunities to make informed choices, from the look of things i think GEJ will still win, however lets cut out the name calling.

roqrules04:
Must Nigeria make transactions with USD?, what's bad in using China Yuan for our transactions

The problem is everyone uses US dollars as the base currency....because the US is the world's largest market.

Collynzo9:
Learn to relax when issues beyond your brain capacity are being discussed.

Well said.

Am always at the sideline whenever an economic issues are being discussed cos am not an economist or have a degree in macro economics.

I learn from the Macro economics gurus like datolee, barcanista, atlwireles, Obiageli etc


Wisdom is a function of Humility and indeed the Principle thing

Buhari till GEJ becomes PEJ husband not otherwise

Collynzo9:
Learn to relax when issues beyond your brain capacity are being discussed.

There is God o ..

One thing wicked men fear most is history.

i got a question .how much is gej paying these e-rats? they cant reason to ask index value and unemployment rates now and under gmb.now under gmb at least they provided opportunity to buy essential commodities.i was riding cab for 20k to 50k in kano city then.how much is it now?

bushdoc9919:
The problem is everyone uses US dollars as the base currency....because the US is the world's largest market.

Okay

Collynzo9:
Learn to relax when issues beyond your brain capacity are being discussed.

OMG!!! That was too much for him.

aare07:
Once to everyman and nation comes the moment to decide; in the strife between truth with falsehood, for the good or the evil side.” J. R. Lowell, 1819-1891, (VANGUARD BOOK OF QUOTATIONS,VBQ, p 254).
For great nations, the choice comes once or, at most, twice. For Nigeria, the choice had come several times. And, the fact that, today, the failure of a country which was more advanced than South Korea, Malaysia and Thailand, among others, in 1965, is unanimously attributed to the lack of purposeful leadership is an indictment of the leaders as well as the followers.
To the best of my knowledge, nobody had been elected into office, either at the Federal, or State, level who had not enjoyed some significant measure of support. Even when the votes were supposed to have been rigged or bought, with “Stomach Infrastructure”, fellow Nigerians had been involved in the deals. Nobody alone can impose himself on a nation of 170 million people. As Joseph de Maistre, 1751-1820, in VBQ p. 80, has warned us, “Every country has the government it deserves.”

Buhari and Jonathan
So if Nigeria, a potentially rich, but, actually poor country, has a government in which a Minister can purchase two bullet-proof cars, at inflated prices, that is what we deserve. If another Minister can spend billions of naira leasing a jet for her official use; and, then go to court to stop anyone from asking questions, because her “boss” never did, that is what we deserve too. If the BOSS himself runs a Presidential Airline with nine aircrafts, while the Presidents of France and Brazil and the Prime Ministers of Japan and Britain manage with one each, that is what we also deserve.
By contrast, we now have a challenger, who was a former Minister for Petroleum Resources (he leased no jets) and a former Head of State (no Presidential Airways then). Yet, he could state, without fear of contradiction as follows: “While others who have occupied those same positions have grown mysteriously rich, I still live on my army pension. I own no foreign bank accounts, I own no companies profiting from government contracts.”
To me the difference is clear; as clear as drinking tea or coffee with milk; or drinking mud water. Let those who had become mysteriously rich explain the source(s) of their wealth to Nigerians – including how much tax they paid on them….

In all your analysis, you stylishly forgot to mention the head of state who Froze wages, sacked more than 250,000 workers... and wait for this, He promulgated degree 17 of 1984 which denied those retrenched to seek compensation or redress in the court!

datolee:
You are very correct...since the discovery of oil we have abandoned every other sector of the economy. Everybody economic plan is based on oil, oil and oil alone. I really do hope that oil price will keep falling until governments at levels sit up and face the reality of the day. The problem of Nigeria is not how much naira is exchanged to the dollar, but reducing our importation while developing other sectors of the economy.

Manufacturing Sector is crying for help and they have all look in the direction of Agricultural Sector that is over populated thou impacting positively on the food needs of the home front and reducing food importation.

I pray that Oil permanently becomes a free gift one day.


Oil is a curse! A real “Dutch-Diseases”

aare07:
Once to everyman and nation comes the moment to decide; in the strife between truth with falsehood, for the good or the evil side.” J. R. Lowell, 1819-1891, (VANGUARD BOOK OF QUOTATIONS,VBQ, p 254).
For great nations, the choice comes once or, at most, twice. For Nigeria, the choice had come several times. And, the fact that, today, the failure of a country which was more advanced than South Korea, Malaysia and Thailand, among others, in 1965, is unanimously attributed to the lack of purposeful leadership is an indictment of the leaders as well as the followers.
To the best of my knowledge, nobody had been elected into office, either at the Federal, or State, level who had not enjoyed some significant measure of support. Even when the votes were supposed to have been rigged or bought, with “Stomach Infrastructure”, fellow Nigerians had been involved in the deals. Nobody alone can impose himself on a nation of 170 million people. As Joseph de Maistre, 1751-1820, in VBQ p. 80, has warned us, “Every country has the government it deserves.”

Buhari and Jonathan
So if Nigeria, a potentially rich, but, actually poor country, has a government in which a Minister can purchase two bullet-proof cars, at inflated prices, that is what we deserve. If another Minister can spend billions of naira leasing a jet for her official use; and, then go to court to stop anyone from asking questions, because her “boss” never did, that is what we deserve too. If the BOSS himself runs a Presidential Airline with nine aircrafts, while the Presidents of France and Brazil and the Prime Ministers of Japan and Britain manage with one each, that is what we also deserve.
By contrast, we now have a challenger, who was a former Minister for Petroleum Resources (he leased no jets) and a former Head of State (no Presidential Airways then). Yet, he could state, without fear of contradiction as follows: “While others who have occupied those same positions have grown mysteriously rich, I still live on my army pension. I own no foreign bank accounts, I own no companies profiting from government contracts.”
To me the difference is clear; as clear as drinking tea or coffee with milk; or drinking mud water. Let those who had become mysteriously rich explain the source(s) of their wealth to Nigerians – including how much tax they paid on them….

Spot on!

PDP goons lying with statistics without context since 1804.

I'm afraid, its too late for you and your oga at the top to deceive Nigerians. You should have presented a different presidential candidate. Nigeria is too complex and sophisticated for GEJ, he is simply not fit to rule us.

WE WANT CHANGE AND WE SHALL GET CHANGE BY FEBRUARY 2015.

@Datolee, on Buhari's campaign jingles running on TV, they are saying cleared our national debt, I know that is far from the truth.
Why must they sell Buhari using lies?
Please open another thread for that.
I am still looking for the online version of those jingles to present.
How can they tell such bold faced lies?

datolee:
Sometimes I feel for the “poor” Nigeria voters who are constantly fed with half-truth and in some instances, outright lies. We are at it again, being told how perfect, stable Naira was under Buhari. To even quote GMB, . http://www.thecable.ng/exclusive-interview-im-opposed-muslim-muslim-ticket-says-buhari/2

Two things are involved here:

1. At no point during the administration of IBB was naira N80 to a dollar, the highest it was at parallel market was N21.90

2. When Buhari took over in 1983, the Naira was exchanging for N 0.724 to a dollar, by the time he left office, the Naira was exchanging at between N1.5 to 1.7 in the parallel market. We will make use of the N1.5 exchange rate.
From 1983 to 1985, the Naira moved from 0.724 to 1.5 representing a 107% depreciation of the Naira!

The question therefore, with 107% depreciation of naira from 1983 to 1985, how stable was the naira under Buhari?

Buhari this Buhari that! This is the only topic flooding nairaland. Can we just rest for once

aare07:
Once to everyman and nation comes the moment to decide; in the strife between truth with falsehood, for the good or the evil side.” J. R. Lowell, 1819-1891, (VANGUARD BOOK OF QUOTATIONS,VBQ, p 254).
For great nations, the choice comes once or, at most, twice. For Nigeria, the choice had come several times. And, the fact that, today, the failure of a country which was more advanced than South Korea, Malaysia and Thailand, among others, in 1965, is unanimously attributed to the lack of purposeful leadership is an indictment of the leaders as well as the followers.
To the best of my knowledge, nobody had been elected into office, either at the Federal, or State, level who had not enjoyed some significant measure of support. Even when the votes were supposed to have been rigged or bought, with “Stomach Infrastructure”, fellow Nigerians had been involved in the deals. Nobody alone can impose himself on a nation of 170 million people. As Joseph de Maistre, 1751-1820, in VBQ p. 80, has warned us, “Every country has the government it deserves.”

Buhari and Jonathan
So if Nigeria, a potentially rich, but, actually poor country, has a government in which a Minister can purchase two bullet-proof cars, at inflated prices, that is what we deserve. If another Minister can spend billions of naira leasing a jet for her official use; and, then go to court to stop anyone from asking questions, because her “boss” never did, that is what we deserve too. If the BOSS himself runs a Presidential Airline with nine aircrafts, while the Presidents of France and Brazil and the Prime Ministers of Japan and Britain manage with one each, that is what we also deserve.
By contrast, we now have a challenger, who was a former Minister for Petroleum Resources (he leased no jets) and a former Head of State (no Presidential Airways then). Yet, he could state, without fear of contradiction as follows: “While others who have occupied those same positions have grown mysteriously rich, I still live on my army pension. I own no foreign bank accounts, I own no companies profiting from government contracts.”
To me the difference is clear; as clear as drinking tea or coffee with milk; or drinking mud water. Let those who had become mysteriously rich explain the source(s) of their wealth to Nigerians – including how much tax they paid on them….

God bless you.

nijanigga:
i got a question .how much is gej paying these e-rats? they cant reason to ask index value and unemployment rates now and under gmb.now under gmb at least they provided opportunity to buy essential commodities.i was riding cab for 20k to 50k in kano city.

Kindly tell us the unemployment rate during GMB government.. sacking of over 250,000 workers, sacking of over 30,000 soldiers, freezing wages and people have to leave the country for greener pasture? tell me, what was GMB record on employment?

datolee:
Sometimes I feel for the “poor” Nigeria voters who are constantly fed with half-truth and in some instances, outright lies. We are at it again, being told how perfect, stable Naira was under Buhari. To even quote GMB, . http://www.thecable.ng/exclusive-interview-im-opposed-muslim-muslim-ticket-says-buhari/2

Two things are involved here:

1. At no point during the administration of IBB was naira N80 to a dollar, the highest it was at parallel market was N21.90

2. When Buhari took over in 1983, the Naira was exchanging for N 0.724 to a dollar, by the time he left office, the Naira was exchanging at between N1.5 to 1.7 in the parallel market. We will make use of the N1.5 exchange rate.
From 1983 to 1985, the Naira moved from 0.724 to 1.5 representing a 107% depreciation of the Naira!

The question therefore, with 107% depreciation of naira from 1983 to 1985, how stable was the naira under Buhari?

My guy some Nigerians are the true definition of ignorance they seem to think something that increased from N2 to N4 is better than something that increased from N60 to N100 they lack the capacity to recognize that 2 to 4 means %100 increase and 60 to 100 means %40 increase..Plz Vibrant youth of the day, be wise,do not encourage selfish elders

onatisi:
this is the problem of the nigerian economy which people are overlooking. all the 36 states of federation have no economic agenda on ground to make their state self sufficient and yet everyone put the blame on fg. What has state govs done with their allocations for 4 years? No tangible investment in the resources available in their states both human and solid .

Correct!

The only thing we hear from them is sharing of imported items as part of their economic plans to eradicate poverty

- 20 Motor cycle

- 20 Grinding Machine

- 20 Sewing Machine

- 20 Frying Pan

- 20,000 Naira to 20 people

Total amount less than One Million Naira and they have collected millions of naira as project and constituency allowance

As a boy I can remember there was a lot of hardship in Nigeria between 1982-1988 or there about. That was the time we started hearing of austerity and such things.

datolee:
Kindly tell us the unemployment rate during GMB government.. sacking of over 250,000 workers, sacking of over 30,000 soldiers, freezing wages and people have to leave the country for greener pasture? tell me, what was GMB record on employment?

Another research topic

FastShipping:
Don't just come here and give us manufactured numbers. Show us prove showing the naira depreciated by 107% between 1983 and 1985. You cannot just manufacture number out of thin air.

I am waiting for the data....

Mathematics is ur problem

I'm sure u even have problem counting ur teeths,u think I'm lying?try it first

Blockhead
GEJ till apc rodents pass mathematics

FastShipping:
At least it wasn't $1 to 196 Naira under Buhari's watch.

Don't b a teddy. Are the times d same? Sometimes u guys amaze me. How can u compare d 90s to d 20s. Even in America d things ain't d same. Sit up.

Stable like NEPA