₦airaland Forum

mbulela:
Your craze get level

Lol..how

Promises everywhere

This man is the only reasonable & sound financial strategist in the whole of Buhari's administration.

Others are 'noisemakers'.

Usual bullshytes from government bureaucrats.

The economy is not a productive economy.

It is a generator economy.

It is an oil resource dependent economy.

As long as the low global demand for oil persists and the oil price hovers at the present levels, there will be No Abracadabras, No voodoo economics, No Hail Marys to save the Naira.
It will continue to spiral downwards.

My prediction is N350 per dollar by the end of the first quarter of 2016.

#EndtimeNaira.
#EndtimeDollar.
#EndtimeChange.
#EndtimeCBNG.

Revive our dead refineries, provide a thriving business climate for our local industries, import less and export more, provide jobs for our youths.

Then, we could take it from there Mr.Emefiele

I support this, we need to stop importing stuff like tomatoes, rice, toothpicks, palm oil etc.....we can produce these things ourselves...

CBN under emeifele is confused and lack the capacity to stability our currency and economy,Nigeria needs a new CBN gov the delta man is incompetent

He doesn't have to tell us cos we Nigerians do know that for sure. We are already use to the ' E gO Better syndrome'

As long as Nigeria continue to depend on crude as her major exports and source of foreign exchange, pressure on Naira will continue because Nigerian crude is no longer doing well in the international market coupled with the continuous decline in international crude price.

All these things that he is saying is just a cover up.

In fact there will be more pressures on Naira in 2016 cos Nigerian crude will even suffer more since USA has lifted ban on crude export and the US has similar light sweet crude as Nigeria which in the past was highly desirous by the US and made US as the largest buyers of Nigerian crude.

But now, US are no longer interested and they will be offering similar crude to the international market thereby creating more pressures on that of Nigeria and Nigeria crude sales volume will decline further resulting in further loss of foreign exchange.

I just the look this man in 3D TV

redcliff:
Dont mind them. That rhetoric can only come from folks who have no single clue of what they are doing but want us to feel like they have a grand master plan where there is none.. counter prodictive in what sense? Are u sharing your strategy with an enemy nation? who makes this kind of statement fr christs sake!!!

Some of these men, one struggles to reconcile their academic qualifications with their utterances.
You begin to wonder if their degrees are for forged. At least you know that Buhari is certificate less. What is xcuwe does one have for Emefiele, Jonathan and Ambode? Just restricitng it to three examples.

Can somebody please tell that man to stop comparing us with other African countries? Nigeria should be a reference point and not the other way round.

luvinhubby:
This man is the only reasonable & sound financial strategist in the whole of Buhari's administration.

Others are 'noisemakers'.

Really? We must be seeing things from totally different perspectives.

luvinhubby:
This man is the only reasonable & sound financial strategist in the whole of Buhari's administration.

Others are 'noisemakers'.

How? Pls enlighten us why an economist should sound like Donald Trump " I can't divulge all the details now".
Economics is a dynamic process. You plan , strategize and execute bearing in mind that some processes are determined by market forces and not by political fiat.

So u mean nigeria import eggs too? Wow

And i agree with this move especially banning importation of frozen foods outrightly
All this are things we can produce locally. Lets do it!!!

Stable at N1 or N300?

Is he blind to all the racketeering going on with the exchange rate at the banks? I just got charged between N270-N280/dollar this morning by GTB.

Is Saraki and co., buying those cars from Innoson?

How about telling the gov't to fix the refineries and encourage new ones built ASAP, so we stop importing refined products which actually takes the lion share of our forex demands?

How about fixing power supply?

How about you stop intentionally creating excess liquidity every month when you disburse allocations -- and implement the 'Boyo' approach?

Do the right things; even at $9/barrel, the dollar will be fine.



P.S. I still can't figure how we got to commercially importing eggs, toothpicks, palm oil, and some other nonsense though.

Stable to what price? That's my question because Buhari promise Nigerians that he's going to equate one dollar to one naria. But in the real sense why do nigeria govt scrap coins

ThisMeansWars:
Do we really import eggs?

Asin, he said millions sef. I am still shocked tho. Wish its lie.
They should just tell us where dey supply this imported eggs after d ban, we can create job ourselves

omooba969:
Why this promise of stability as if Nairalanders are not learned?

Everyone knows that the present state of our economy, coupled with the volatile nature of the currency market would never support such promise.

Diversifying the economy is the way to go so as to discourage dependence on foreign products & this can only be done by investing in the human resources; at least Nigeria is blessed with the population to achieve this economic growth.

As it is, I think these guys are blind to the obvious fact.

So Mr Oga, tell us better lie jare...yeye dey smell!

no talk of regionalism too ..when they finish deceiving themselves we'll be here...

gottliebglobal:
How? Pls enlighten us why an economist should sound like Donald Trump " I can't divulge all the details now".
Economics is a dynamic process. You plan , strategize and execute bearing in mind that some processes are determined by market forces and not by political fiat.

very apt comparison.

Last time I read an interview of his on FT of London, his core strategy was "by God's grace". Even as a believer, I was ashamed.
If we only needed the invocation of God's grace for our monetary policies, we would have appointed Ayo Oritsejafor, Sultan of Sokoto or even Archbishop Okogie as the CBN governor.

macklef:
Asin, he said millions sef. I am still shocked tho. Wish its lie.
They should just tell us where dey supply this imported eggs after d ban, we can create job ourselves

na toothpick fear me pass

mbulela:
very apt comparison.

Last time I read an interview of his on FT of London, his core strategy was "by God's grace". Even as a believer, I was ashamed.
If we only needed the invocation of God's grace for our monetary policies, we would have appointed Ayo Oritsejafor, Sultan of Sokoto or even Archbishop Okogie as the CBN governor.

Word.

egift:
Good days ahead. God bless Nigeria. Sai Buhari all the way!

Sai what, so you never learn abi, na till hungry kill you next year. Sai buhari have nothing to offer Nigeria. He just want to travel around the world and die next year but I don't know the day or month. Stup,id fulani old fo,ol

He needs to scrap the tight exchange controls that have led to almost N100 spread between official & parallel market rates.
This will only favour those with access to Buhari for ROUNDTRIPPING benefits without adding any VALUE whatsoever as was the case under Abacha.
Otherwise our case will be worse than 1984/85 before IBB kicked out Buhari's ass.



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Let us all get ready to wear made in naija everything. Now we r gonna wear made in Aba shoes and cloths. Tym to brace up, fashion is about to leave the four walls of naija.

nwanna89:
Stable at N1 or N300?

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But now schooled by Lair Mohammed.

GudluckIBB:
Don't forget he was employed by your "hero"






GEJ

The Atlantic


Janet Yellen’s Confidence in the U.S. Economy
In a speech Wednesday, the Federal Reserve chairwoman said that a rate hike would be a sign of strength.


Federal Reserve Chairman Janet Yellen speaks at an event in Washington D.C. Joshua Roberts / Reuters

BOURREE LAM
DEC 2, 2015 BUSINESS
It’s two weeks before the Federal Reserve’s December meeting, at which interest rates have a good chance of being raised for the first time in nearly a decade. And that means that investors and Fed watchers the world over are paying close attention to any statement from Federal Reserve Chairwoman Janet Yellen, who has two public appearances this week, the first of which was a speech on Wednesday at the Economic Club of Washington.

In her prepared remarks, Yellen expressed confidence in the U.S. economy. Though Yellen said “we cannot yet, in my judgment, declare that the labor market has reached full employment,” she pointed to substantial gains the economy has made in recent years. Yellen also said that she anticipates that U.S. economic growth is on track in meeting the Fed’s employment and inflation targets.

The U.S. central bank’s target for the interest rate has been near zero since 2008. Yellen stressed that delaying a rate hike could be risky, potentially resulting in abrupt tightening:

However, we must also take into account the well-documented lags in the effects of monetary policy. Were the FOMC to delay the start of policy normalization for too long, we would likely end up having to tighten policy relatively abruptly to keep the economy from significantly overshooting both of our goals. Such an abrupt tightening would risk disrupting financial markets and perhaps even inadvertently push the economy into recession. Moreover, holding the federal funds rate at its current level for too long could also encourage excessive risk-taking and thus undermine financial stability.
Financial experts say that the Fed has given investors a significant amount of time to prepare for a rate hike. Indeed, a “lift off” has been hotly anticipated since the Fed’s September meeting. Yellen has repeatedly expressed that she expects a rate hike in 2015, as long as the economy doesn’t pull any big surprises. A fantastic October job report, in which the U.S. economy added 271,000 jobs above expectations, signaled a much improved job market, another signal that the economy might be ready to bear a rate hike.

On Thursday, Yellen will testify on the U.S. economy’s outlook before a joint Congressional committee. Her testimony, along with the November job report from the Labor Department on Friday, will both be closely watched for further clues about a rate hike.

Yellen ended her speech by saying that interest rates going up is a sign that the economy is performing well: “The economy has come a long way toward the FOMC's objectives of maximum employment and price stability. When the Committee begins to normalize the stance of policy, doing so will be a testament, also, to how far our economy has come in recovering from the effects of the financial crisis and the Great Recession. In that sense, it is a day that I expect we all are looking forward to.”




This is how economists speak.