₦airaland Forum

chrischina:
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

nastyesco:
Guy resign abeg

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!

dominique:
But we're interested in knowing how you intend to achieve this. Our major source of revenue isn't worth so much right now and chances are that it won't get any better next year. As much as I want to believe them but I don't believe they have any strategy.

Oduduwaboy:
What have you said now? This Yeye smell seems to be coming strongly from your mouth o!

omonnakoda:
There is no strategy that will work in the short term. Nigerians need to tell themselves the truth: In terms of aggregate world production we are not productive but we like to consume and do so with an incomprehensible sense of entitlement. The only thing that will push up the Naira is external demand for Nigerian products and reduced consumption of imports in Nigeria. Nigeria economy was not strong enough to allow people spend money abroad on VISA cards that was a mistake. That should only happen with PREPAID CARDS i.e you buy the card and load the dollars NOT spend from your account.
We cannot continue to blame government for everything. Indians come into Nigeria to make orange juice while we sit on our lazy butts. Even those who steal government funds take it abroad to buy houses. South Africans come to open TV stations and Supermarkets. Ibos pride themselves as businessmen but the core of Ibo business does not bring dollars in rather it helps us consume and spend even more dollars. We need to stop blaming government and look at ourselves. Imagine all the money airlines take out of Nigeria yearly
The number one strategy is simple . REDUCE OUR APPETITE longthroat for imported goods. There is no right to consume what productive people in other countries produce.

sosanova:
Anybody who believe Buhari n Emiefele that Naira will stabilize in 2016 is a bonafide Zombie. .Quote me anywhere
......With all the wrong Economic policies being implemented by Buhari that is causing the Nigerian Economy to shrink in size , ln 2016, Nigerians should expect $1 to be close to the 500 Naira threshold as anticipated by Dangote.

U can call me a wailer if you like ..... 2016 is just around the corner .

25ahmad:
APC + CHANGE = 4I9...
Pls malam we need work but not excuses

yudee233:
It is a pity that the gurus in economic matters are sleeping. Just take a closer look at the developed countries you will see one denominator "focusing on finished goods". Everyone is crying that the Oil price has fallen so low we can still mitigate this by revamping the refineries and encouraging investors to build more refineries. This alone will reduce 40% pressure on dollars request in Nigeria

omonnakoda:
There is no strategy that will work in the short term. Nigerians need to tell themselves the truth: In terms of aggregate world production we are not productive but we like to consume and do so with an incomprehensible sense of entitlement. The only thing that will push up the Naira is external demand for Nigerian products and reduced consumption of imports in Nigeria. Nigeria economy was not strong enough to allow people spend money abroad on VISA cards that was a mistake. That should only happen with PREPAID CARDS i.e you buy the card and load the dollars NOT spend from your account.
We cannot continue to blame government for everything. Indians come into Nigeria to make orange juice while we sit on our lazy butts. Even those who steal government funds take it abroad to buy houses. South Africans come to open TV stations and Supermarkets. Ibos pride themselves as businessmen but the core of Ibo business does not bring dollars in rather it helps us consume and spend even more dollars. We need to stop blaming government and look at ourselves. Imagine all the money airlines take out of Nigeria yearly
The number one strategy is simple . REDUCE OUR APPETITE longthroat for imported goods. There is no right to consume what productive people in other countries produce.

chukkiephil:
how can you describe a man who said you don't need power for farming?! OMG!!! and this man is our CBN GOVERNOR WE DON DIE!!!!!!!

Meriekriss:
Some times I wonder if our leaders are really learned ppl or they are just being insensitive.. How can all importers focus on importation of raw materials and equipment? Who will consume them? Where are the functioning manufacturing industries to consume these goods?
Kip promising... It's almost one year gone..

gottliebglobal:
Pls could you explain the bolded?

christopher123:
How can they focus on finish goods where they call any Nigerian good Igbo made ...so we keep importing and naira keeps crashing

This is a good development... We should start producing but the average Nigerian hates locally made product and everybody thinks oil.

Mark my word...oil will never rise again. Because we have alternative energy sources and cars are not consuming much fuel these days especially Japanese cars .now who wants to buy your oil with shale gas that USA have and other countries that doesn't give a damn about OPEC isn't laughing neither

So who will bail us

989900:
You are almost 100% correct -- we need to get off dependence on oil.

However, if there is anything I have come to learn since the late 70s, it is : never write off oil!

The bankers and world financial powerhouses will ensure that oil rises; when, I don't know.

They'd start a war somewhere strategic maybe.

christopher123:
Nice submission. But people are going green and war won't work

Submarine are powered these days by nuckaer reactions cars are hybrid

christopher123:
How I wish that people can think like you...we tend to celebrate foreign things ...some idiots where celebrating shop rite , palms and pep malls ..they will go for dstv and allow hitv to die . I just keep asking what the hell is wrong with Blackman

When the Igbo produces something they call it Igbo made now they are crying

The bottom line is to close the borders do not allow anything we can produce to be imported . anything edible , cosmetics and clothes ...we can't allow importation of furniture not even tooth pick . no provision or groceries should be imported . cars should be brought in in completely knocked down parts and re assembled here ..most electronics should also be in knocked down parts

But the Nigerian man will want to enjoy where he didn't suffer always dancing and drinking then sex without doing anything . we are just consumers

Without this we can't have string currency

We don't even refine common oil


The naira wont be strong if we don't do this


Take it pls

omonnakoda:
I don't think closing the borders can work rather there should be a smarter approach of effective duty collection and effective market surveillance .If rich people want to eat bread from London fine just make sure government taxes it and collects the tax e.g $1 per loaf. For those items that are not negotiable government should carry out extensive public enlightenment and give an amnesty perion e.g 6 months and warn people in the markets about which products are prohibited and give them time to adjust . After that start seizing. Even that will not eliminate it 100% but will me more effective. No one takes cocaine to the market to sell and it should be the same for anything government wants to prohibit. Right now the thinking is if you can bring it in then it is OK but when it is impossible to sell frozen turkey anywhere in the open that would be a game changer.

Right now the body language of government on banned items is ambivalent

christopher123:
Do you know China closed it border with the policy that what they can't produce they don't need . this was in 80s . I strongly believe in protectionism than this fathom globalisation

If the rich man wants to eat bread from London ..he and his friends should tell the London bakers to come to Nigeria and bake that bread here in Nigeria


We can't open our borders ..we can't compete ..those dudes have comparative advantage

This is the only way

Businesses would be given 1 year notice to adjust . we have to make sure that other local firms must compete

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

christopher123:
Do you know China closed it border with the policy that what they can't produce they don't need . this was in 80s . I strongly believe in protectionism than this fathom globalisation

If the rich man wants to eat bread from London ..he and his friends should tell the London bakers to come to Nigeria and bake that bread here in Nigeria


We can't open our borders ..we can't compete ..those dudes have comparative advantage

This is the only way

Businesses would be given 1 year notice to adjust . we have to make sure that other local firms must compete

erico2k2:
Name any advance country who do not import those items U named? ? Frm UK to canada