₦airaland Forum

SOPIGO:
Bros I don't want to know how or processes it takes na result I want see as them promise during campaign

In other words....you are just criticising without thinking.

Thanks for confirming that.

Sorry about the election loss. Life goes on.

Good am.

Kikero112:
So...what do you want him to do?

What do you think that GEJ would have done if he was still in charge.?

What the CBN has done is the best of two bad choices. The other one.....straight devaluation....would have crashed our naira further.

We are paying the price for an oil dependent economy. And it is going to take more than seven months and lots of hard work to get off the oil dependency.

An official devaluation would have crashed the price to 230 at most. This was the. same experience in 2009 when Soludo tried in vain not to devalue it from120. It hit 190 at the black market.Sanusi came, devalued it to 150 andd the black market rate rose towards 150. Experts know why they say devalue.

otokx:
The BDC are very greedy, after buying $ at 197 they will go and sell 287+ to fellow Nigerians.

That is how we just deceive and oppress ourselves in this country.

NEPA will bring bill when there is hardly and light.

That's what beats my imagination, the BDCs are acting as though they are not Nigerians or in Nigeria, where is the patriotic, nation building spirit on the their part?

The reason for the BDCs is defeated because it was/is for the betterment of Nigerians and to move the economy forward, but recent happenings show otherwise.

Are the BDCs now the regulators of the Nigerian economy?

Just imagine...

Make o go change the 500$ wey dey my hand since last 3yrs, I don hammer shooooooo 300 whabt, abokiiii Nah come hia now bdc

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hollywater:
Good news. Inform me when it get to 500, let me go and sale my 2$.

Dis just got ,e laughing hard dis morning. Me too need to sell my 1 dollar o

this is no time to lay blames,it will do us no good,men and brethren,What shall we do,what can the average Nigerian do to cushion the effect of the imminent hard times in him,what can the youth on the street do?,our government has no clue,must we wait till it gets to Greece before we do something?,so I ask again,men and brethren,what shall we do?

Kikero112:
So...what do you want him to do?

What do you think that GEJ would have done if he was still in charge.?

What the CBN has done is the best of two bad choices. The other one.....straight devaluation....would have crashed our naira further.

We are paying the price for an oil dependent economy. And it is going to take more than seven months and lots of hard work to get off the oil dependency.

the cluessless 1 is better

story... so how much be pounds? $1=199.2300 naira as of 8am naija time.

totorimi:
All we need at the helms of affairs is a whizkid with a midas touch, at times like this we don't need any trial and error approach.
When you operate an economy that is oil dependent and there is a glut of course there is a way out its not a dead end and nobody should sell that crap to us.

When they were campaigning to take over power they were aware and I am sure were strategising on what to do if they weren't and busy planning how to form parallel govt or how to unleash baboon and monkey soaked in blood that's their headache. They should fix the economy or gerraway let the technocrats do their work.
We have always had economic challenges from the time of IBB to GEJ none gave up or was busy accusing any past govt of causing any problem they faced the challenge frontally and Nigeria did not crash. It shouldn't be different now. All we hear day and night in this govt is blame game and I wonder if that is what this govt will tell us when the tenure is over.

They should roll up their sleeves get the right people to do the job of revamping the economy and get to work. It can be done and it must be done by this govt we demand it of them it is our right. They cannot distract us with all this playing this Dasuki show let them hit the ground running. Enough time wasted achieving nothing. Electricity supply is still poor, Fuel is still poor, unemployment is very high,companies are laying off plenty staff daily, security of lives and property poor, education , health all in comatoes, social vices like prostitution and armed robbery has reached all time high level. Govt must work and be seen to work enough gallivanting.

Baboon and what ??

Haahahhahaa

I'm quite impressed at how Nairalanders (youths) have analysed the situation, it's a positive for this country but the painful part is that it is only the old heads that selfishly want to rule thereby forgetting to harvest the knowledge the youths have. Their excuse; we are half baked graduates, we are not bold enough or we lack experience. Until they start seeing youths as major tools in nation building our leaders will keep repeating past mistakes.

Prophet Dangote predicted N500 - $1. There's difference between paper economist and real economist.

ichidodo:
[color=#1980BC] [b] As we recalled Ngozi Okonjo Iweala shouting herself hoarse on the need to diversify the economy and save far back as 2012. Maybe you also cast your mind back on her instituting the SWF on the backdrop of vitriolic oppositions from political elements -who,ironically,are now 'saints' in this admin e.g Amaechi,Saraki etc and most gullible Nigerians- Heck, we even remembered the constant yearly fights btw NOI and the political class especially those of the opposition back then on what point to peg our budget about a certain oil price so as to fund it and also save for the rainy day....whilst NOI insisted on pegging way below the crude oil price so as to have excess dollars to save,amaechi and his rabid dogs insisted and pegged it higher so as to have that excess dollars to loot.At a point the Federal Government was taken to court and that was the end of it for NOI,but as bad as it is right now, NOI could have steered this economy away from this global downturn just as her policies auto piloted us away from the 2008 financial meltdown....but who are we kidding when we are stucked with janjaweede propagandists,imbecilic,illiterate tyrants from daura with zombies as their fanatic supporters and wait for it......a rookie and a horribly mentally limited finance minister whose last gig was impoverishing a state into begging for bail out funds, let us leave the topic of her getting the job via tribal and regional sentiments for another day.....And you wondered why we laugh?! Thank goodness we relocated back to France in time.[/b][/color]

Frustrated refugee!

Heavy lie........for Kuba here


#1 equals $1

Good morning Nigeria

PDP is better oooooooooooo

ichidodo:
[color=#1980BC] [b] As we recalled Ngozi Okonjo Iweala shouting herself hoarse on the need to diversify the economy and save far back as 2012. Maybe you also cast your mind back on her instituting the SWF on the backdrop of vitriolic oppositions from political elements -who,ironically,are now 'saints' in this admin e.g Amaechi,Saraki etc and most gullible Nigerians- Heck, we even remembered the constant yearly fights btw NOI and the political class especially those of the opposition back then on what point to peg our budget about a certain oil price so as to fund it and also save for the rainy day....whilst NOI insisted on pegging way below the crude oil price so as to have excess dollars to save,amaechi and his rabid dogs insisted and pegged it higher so as to have that excess dollars to loot.At a point the Federal Government was taken to court and that was the end of it for NOI,but as bad as it is right now, NOI could have steered this economy away from this global downturn just as her policies auto piloted us away from the 2008 financial meltdown....but who are we kidding when we are stucked with janjaweede propagandists,imbecilic,illiterate tyrants from daura with zombies as their fanatic supporters and wait for it......a rookie and a horribly mentally limited finance minister whose last gig was impoverishing a state into begging for bail out funds, let us leave the topic of her getting the job via tribal and regional sentiments for another day.....And you wondered why we laugh?! Thank goodness we relocated back to France in time.[/b][/color]

Thank you.. People forget too quickly. The APC then were just a destructive opposition.

Etizz:
This is serious,...

Is there a reason for the crash?


Is there something to be done to avoid this crash...?


Wit there is a solution, why is it difficult to fix?



I am a learner and I need to know...

Following u bro,

Ur fellow learner who really wants to know what is happening

See me see trouble, wen I Don become INEC or party person or evening running mate to any person that I loss election. Abi if person dey talk wetin dey disturbed 'm him na critics? Abi u want still label me Wailer? Because any person wen him nor angry with una ideal na Wailer una they call them oooo.
Although, I be critique but not a critics. How u go even say I dey criticized without thinking, them wen promise without thinking how to achieve 'm wetin u go call them michwwwwwweeeee .

Kikero112:
In other words....you are just criticising without thinking.

Thanks for confirming that.

Sorry about the election loss. Life goes on.

Good am.

Heard that the targeted devaluation value is 400 naira to a dollar
Nigerians should better brace us for hard time.

[quote author=Pavore9 post=41922394]The combined effect of not diversifying the economy before now and gross mismanagement of what was accrued from oil over the decades.[/quo



you nailed it

bamite:
All the posters above me are ignoramus. The spike is due to the economic shock which always accompanies monetary policies such as these, its just a short term reaction. No need to panic, the naira will rebound in no distant time. Wailers this one no be food for una so just chill and keep sipping your cup of burukutu

anything wey go up for Nigeria no dey come down again... reality

When ngozi said we should we should cut cost save the dollar for time like this .amechi and other apc went to court now we are in trouble

By the time APC & B00hari have finished with Nigeria, only goodness knows wetin go remain

https://cdn1.vanguardngr.com/wp-content/uploads/2015/03/346x250xbuhari-Naira.jpg.pagespeed.ic._32XnRBhK7.jpg
[size=13pt]CHANGE ABI[/size]!
[img]http://i./Fn7q3cMgPZmqk.gif[/img]

Its part of the "change" . Its just starting

I should have relocated abroad when I had the chance, the country is...

I did not see any reason for Nigerians to be worried apart from the importers and the BDC,few of them will withdraw while those who have enough can still continue.

No doubt,price of some imported products will be hiked and this will lead to patronizing of our local products thereby we maintain the GDP growth. As long as federal Government develop and encourage local manufacturers at this time the policy will be cooled for every Nigerian.

Though Naira will continue to crash against dollar pending when Nigeria are use to the system because it is not a long term policy. By the time CBN withdraw the ban and start selling to the BDC with certain regulations there will be more dollars in the market. Definitely,dollar must crash and my beloved Naira will gain its value.

#Myopinion.

fero07:
We have always had economic challenges from the time
of IBB to GEJ none gave up or was busy accusing any
past govt of causing any problem they faced the
challenge frontally and Nigeria did not crash. It
shouldn't be different now. All we hear day and night in
this govt is blame game and I wonder if that is what
this govt will tell us when the tenure is over. We have always had economic challenges from the time
of IBB to GEJ none gave up or was busy accusing any
past govt of causing any problem they faced the
challenge frontally and Nigeria did not crash. It
shouldn't be different now. All we hear day and night in
this govt is blame game and I wonder if that is what
this govt will tell us when the tenure is over.

this challenge is quite different and scary... please tell me which of the past government experienced America not buying a single drop of Nigeria crude.... In-fact America will start competing in the export market for crude oil, not to talk of the stock pile of Iranian oil ready to be flooded into the already saturated oil market... These are truly worrying time..

PMB must redouble his effort to fix the epileptic supply of electricity, this must be done in the short to medium term, there is no time to waste.... Fashola is yet to give us a time table when Nigeria will no longer experience power outage. improve safety, transportation, communication... All these are essential ingredient for the dividend of industrialization policy to be fully realized. How do you enter the export market when your average cost of production is higher than the competition due to lack of constant electricity, constant water supply... etc.

#oilwealth is wealth without work! Nigerians must start appreciating the value of hard work!!!

grandstar:
An official devaluation would have crashed the price to 230 at most. This was the. same experience in 2009 when Soludo tried in vain not to devalue it from120. It hit 190 at the black market.Sanusi came, devalued it to 150 andd the black market rate rose towards 150. Experts know why they say devalue.

Let me pick up my discussion based on your comment. I will not support the CBN to devalue the naira. We have people who make a living from currency speculation. Immediately the CBN devalue the naira, these guys increases their offer for the dollar - possibly N400 to a dollar. This will create panic.

I also welcome the development on the non-sale of FOREX to BDC operators. These BDC operators are the main suppliers of FOREX to the parallel market. They buy at the official rate of N199 to a dollar and sale at ridiculous prices to the Parallel Market. The BDCs are also useful channels for money laundering. Moreover, we have over zealous importers who would pay any amount for the dollars because they want to import illegal products and also pass the price to the end consumer.

The CBN should ensure easy access to FOREX for genuine transactions and importation of products qualified for FOREX.

ultrazone:
www.punchng.com/naira-crashes-to-300-against-dollar/

this one of the Nigerian problem that needs an urgent attention from the authority concerned

[size=18pt]Let Nigeria learn to manufacture the things we need here in Nigeria and our currency will appreciate in the international market. Our market is flooded with too much chinese mobile phones, chinese radios, chinese rechargable lamp etc. This helps to drain Nigeria of its foreign exchange as so much of our money is going outside and less is coming in into our economy.

instead of chinese flooding our market with chinese products, let those chinese manufacturer set up manufacturing plants and assembling plants in Nigeria with Nigerians gainfully engaged to their workforce and we will see our economy growing and our naira appreciating in value.

Each of the 36 states of the federation must have a private sector driven industrial farms for modernised agriculture.

We must learn to eat what we grow and you will see our nations moving forward. There are so many under-utilized and un-untilized lands lying fallow all over the northern part and southern part of nigeria and we have a large number of graduate without jobs.

The national youth service corps should be re-organized to make corp members serve in industrial farms no matter your discipline.

The government in Nigeria must sustain it anti-corruption war to stop looters from draining our nations financially.

It is high time we review the cost of governance in Nigeria. We have too much wasteful structures in government that are increasing the cost of governance.

We should make laws to enable our national house of assembly ( senate and house of rep ) sit on part time including that of the state legislature in the 36 states of the federation.

I think it is a monumental waste to see a governors like Emmanuel Udom of Akwa Ibom states and senate minority leader Godswill Akpabio organise wasteful christmas carol night when a lot of akwa ibomites are without jobs.

We must go back to our senses and drastically curb wastages.

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Penssuwa:
300? that's too much. I remember the One Naira for One Dollar promise... Politics is 'the more you look game'

Waitooo, so this is what it feels like to be the FTC... This is orgasmic mehn

IF you believe the promises of a politician, then Im sorry for U.

chiedu7:
By the time APC & B00hari have finished with Nigeria, only goodness knows wetin go remain

https://cdn1.vanguardngr.com/wp-content/uploads/2015/03/346x250xbuhari-Naira.jpg.pagespeed.ic._32XnRBhK7.jpg
[size=13pt]CHANGE ABI[/size]!
[img]http://i./Fn7q3cMgPZmqk.gif[/img]

since GEJ did not crash this country despite the Genocide, and ethnoreligious crises that got a free air, I pray God Almighty not to repeat such calamitative administration