oyinkinola:
[s][/s]

2017 budget will beat record... ₦1 quadrillion!, all the social sectors will be substantially finance to trillions ₦, poverty will be completely eradicated and by the end of year 2018 Nigeria will be declared a developed state and classify one of the first three country in the index of human .
I know you will argue on how this can happen with the economics situation of today, low foreign reserve, low oil price, with depreciation of ₦.
yes oil price is down, foreign reserve is dry but we still have foreign looted fund reserve at hand! when recovered and well managed, it won't be problem to have money for this budget!
we can only pray that a $ hit ₦1000 and all $1 trillion looted recovered!
I know for sure that with the determination of this government and the support of foreign nation to help recovered all $ trillion looted it will happen.....$1 trillion recovered and change to ₦ will give us ₦1 quadrillion needed to financ that budget!
year 2017 bye bye to poverty!

u just dey talk rubbish.....how much dem do recover wey wan make budget be quadrillion

.

What do you expect when you elected an illiterate to be your president? Doom! Very soon, it will reach 1000 to a dollar.

oyinkinola:
[s][/s]

[b]....there are very many commentary on depreciation of ₦ nowadays expecially in parallel market, although parallel or black market can be manipulated by the traders, they either do it on their self interest, so those who doesn't beleive in the prosperity of nigeria can harbour $ as they can on imported goods hereby cause hike!
But in my own point of view the depreciation of ₦ is a great success to this nation if well manage to nigeria situation today. the looted fund is in $ and it must be refunded back in $, so if $1 is ₦198 when the money is looted, then if the money is refund today at $1 to ₦350 the nation has gained ₦152!
imagine if $1=₦1000, the gain is ₦902!
So in conclusion if the government managed to refund the $trillion looted and the refunded money, change it in parallel market, this will reduce the pressure on ₦ and the scarcity of $ in parallel market so the ₦=$.

(take note all the money took out of CBN during jonathan regime were changed in parallel market before ditributed)

you have other opinion?[/b]

You sound like an over fed stupid child

RichYoungNigger:
It will affect some people but not Nigerians living in the U.S
This is what we pray for.

I love Buhari so much.
I wish he will be the president for 60 years

Richyoungnigger we have heard you bro. So please enjoy the change while it lasts... Also stop making noise here.

sold:
I'm sure if we're to ask so many people here what they think is happening to our Naira, I'm sure they can't explain, even some so called graduate of economics and business management can't explain. Nigeria my country when all we know is to keep consuming imported goods, and now that our major source of (Dollar) income have reduced (crude oil) drastically, and we still expect CBN to keep releasing dollar to the public, hmm CBN better hold the dollar for now o...! Because what will happen when CBN keep releasing dollar to the black marketers is that, our foreign RESERVE will keep depreciating (before you know our account go empty especially now wey crude oil no get much value for world market, and na there we dey get most of this dollar from)
In conclusion, we better start consuming made in Nigeria products and Exporting thereby bringing in more dollars to the country.
Well if you're an entrepreneur here in Nigeria better days ahead for you. Because very soon government will stop the importation of so many things into the country. Which is good for us, suffer go dey small but it's the best for Us. Let's be more of producers than consumers.

I have been expecting something sensible like this write up since reading. Nigerians should stop complain about one president or the other and face reality. We are the cause of these situation at hand. We buy almost everythin from UK, u.s even to our pant. We never cherish any of our product because of showing level. We should all buy our product and put our naira into making a good business that we also can export into another countries. With this, our naira against dollar will be okay. This is just the beginning.

cjfavour:



God forbid. So you've nt heard of Dasukigate? How much did Dasuki give u?

What is Dasukigate?

Brilliance9000:
This country is finished!

Let me see the hypocritical twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's almost 400 naira. GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira loss in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable.

However under Buhari from 210-400 in barely 8 months? This is disastrous...an invitation to anarchy. Did you guys noticed that under Jonathan when naira depreciates, it appreciates back within few days. But under Buhar...it only depreciates. Don't forget that Obasanjo and Jonathan had strong, powerful economic team...this administration has zero. Very disorganized government! Emefiele resign honorably and let them run Nigeria like a private cattle ranch in Duara...everything to them is about tribalism.

Keep blaming GEJ and oil price until dollar hits 1000 Naira by July by the rate Naira is falling.

Very soon person go carry Ghana must go full of cash to go buy one bottle of smallStout.

Change is good!

oyinkinola:
[s][/s]

2017 budget will beat record... ₦1 quadrillion!, all the social sectors will be substantially finance to trillions ₦, poverty will be completely eradicated and by the end of year 2018 Nigeria will be declared a developed state and classify one of the first three country in the index of human .
I know you will argue on how this can happen with the economics situation of today, low foreign reserve, low oil price, with depreciation of ₦.
yes oil price is down, foreign reserve is dry but we still have foreign looted fund reserve at hand! when recovered and well managed, it won't be problem to have money for this budget!
we can only pray that a $ hit ₦1000 and all $1 trillion looted recovered!
I know for sure that with the determination of this government and the support of foreign nation to help recovered all $ trillion looted it will happen.....$1 trillion recovered and change to ₦ will give us ₦1 quadrillion needed to financ that budget!
year 2017 bye bye to poverty!

Lolz. Dude, for ya mind you've made a wonderful comment, abi?
By then, what will the one quadrillion be able to afford the country?
prolly one toyota highlander for the president. You're wishing doom upon your country without knowing it

We should make our highest denomination 200naira,that would go a long way if CBN could adopt that,the earlier the better,200Naira worth should be equivalent 1000Naira Worth and with time,its going to vary,then we should let the companies bringing their products to sell in Nigeria set up production plants here,that is just it for now.

[s]

oyinkinola:
[s][/s]

2017 budget will beat record... ₦1 quadrillion!, all the social sectors will be substantially finance to trillions ₦, poverty will be completely eradicated and by the end of year 2018 Nigeria will be declared a developed state and classify one of the first three country in the index of human .
I know you will argue on how this can happen with the economics situation of today, low foreign reserve, low oil price, with depreciation of ₦.
yes oil price is down, foreign reserve is dry but we still have foreign looted fund reserve at hand! when recovered and well managed, it won't be problem to have money for this budget!
we can only pray that a $ hit ₦1000 and all $1 trillion looted recovered!
I know for sure that with the determination of this government and the support of foreign nation to help recovered all $ trillion looted it will happen.....$1 trillion recovered and change to ₦ will give us ₦1 quadrillion needed to financ that budget!
year 2017 bye bye to poverty!

[/s]

You need help

Validated:
Not sure if the President is aware of this. Anyway, I am planning on landing in April. Perhaps it would have hit N750 projected rate. That would mean my $$ is going to be a lot of cash!!! Next time when you hear change, you will prompted, what type of change!!!

You are right on your projection that you will have a lot of cash in Naira should you change your dollars at the rate of #750/$, however, the value of that your seemly "a lot of cash" in naira will be TOO low. This is based on the economic principle that the value of money lies on what the money can buy at a given period and price, and NOT on the volume or amount of money.

Lol
$1 would soon become N1000.

The way apc dey handle things cluelessly, at a point they would tell nigeria to stop spending naira but be spending dollars for some period of time.

changi has really come, where are the buhari worshipers

It seems this Buhari led economy is on auto pilot mode.
Which kind dullardo did Nigerians elect as president. GEJ tenure wasnt this bad. Haba.
N400 to $1 hope Nigeria is not warming up to take over from Zimbabwe.

richardjemedafe1:
“There is inflation in all spheres of the economy and Nigerias are indeed
groaning. Business men and women can no longer import goods due to the fall in naira. It has reduced the purchasing power of citizens abroad.


“Nigerians can no longer go on holidays abroad, the sick can no longer travel for treatments, and students who school cannot afford to pay their school fees.

“Investors are not willing to come into the country because the fall in naira keeps reducing the value of their holdings.”

its to early to complain.. Lets all enjoy the CHANGE WHILE IT LAST..... During the last election i advice my son who is 18 year old to vote for GEJ BUT HE RESISTED. Saying he want 'change'. Yesterday he was informing me that their busery(school fees) has incresed from 35k to 48k.. I should give hIM money TO GO AND PAY.... (i almost disown him.)for asking me money instead of his political father (PMB)whom has not paid me for the past 3months now.

you can have your holiday in several parts of Nigeria.

There are alot of schools here in Nigeria offering quality education.


Let start buying made in Nigeria

For those who have been misled,the black market exchange rate is not an index to measure the strength of the economy,more so,the official rate is still less than 200!

The exchange rate ,black market for that matter,cannot affect the economic growth and development of a nation,otherwise economists would not be talking of deliberate devaluation of a currency to stimulate growth.

Japan had a very strong economy when the Yen was about 1000 to the dollar and now a weaker economy when yen is now about 100 to the dollar!


Many factors determine economic development and so what we should worry about are those indices not the black market forex rate.They include>

(i) Accessibility of natural reserves;

(ii) Speed of capital formation;

(iii) Capital-output ratio;

(iv) Technological development and infrastructure;

(v) Lively entrepreneurship;

(vi) Rate of population increase and

(vii) Social expenditure.

Brilliance9000:
This country is finished!

Let me see the hypocritical twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's almost 400 naira. GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira loss in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable.

However under Buhari from 210-400 in barely 8 months? This is disastrous...an invitation to anarchy. Did you guys noticed that under Jonathan when naira depreciates, it appreciates back within few days. But under Buhar...it only depreciates. Don't forget that Obasanjo and Jonathan had strong, powerful economic team...this administration has zero. Very disorganized government! Emefiele resign honorably and let them run Nigeria like a private cattle ranch in Duara...everything to them is about tribalism.

Keep blaming GEJ and oil price until dollar hits 1000 Naira by July by the rate Naira is falling.

Under Gej oil was sold for above 120, were are those reserves today, You like it or not Gej mismanaged our reserves and brought us to where we are now. No matter how you guys try you cannot divorce yesterday's mismanagement from the consequence we have today.
You claim Gej had the best economic team but Iweala herself admitted that GEJ GOVT BORROWED BILLIONS OF DOLLARS to pay salaries in the first part of 2015. She equaly agreed that there have not been capital releases since the second quarter of 2014 due to dwindling finances. "Nigeria cannot eat her cake and still expect to keep the coin", our reserve is still virtually what it was when Gej handed over, if i inherit the level of Dangotte's wealth, are we saying Dangotte conglomerates will suddenly become broke under one year because i am a bad manager? If that happen then know that there were hidden toxic assets and due loans that caused it. You like it or not corruption was the main source of funding the parallel or black market under Gej, the value of the dollar then was artificial. 2.1B dasukigate funds, dollars handed out to delegates during the election where were they exchanged?
The current mess of the dollar is as a result of Blockage of revenue leakages and implementation of TSA. Its natural for the economy to react to adjust itself to this sudden stoppage of easy and illicit cash. Go and check the value of South Korea currency to the dollar and you will agree with me that, a countries currency value is not a death sentence, its an opportunity for us to improve our productive base while seeking to be self reliant. PDP AND GEJ ARE TO BLAME

SoNature:


I am shocked by the way these APC apologists think. Frankly speaking, I expected to see the argument that when dollar/naira goes high, it will force Nigerians to patronise local commodities because the foreign ones which dominate our local markets today will become a luxury and only affordable to the rich.

Surprisingly, you are busy talking about recovered loots and its projected naira value meanwhile we don't know how much has been recovered yet because nobody has accounted for it or told us the projects they would be channelled into. And how sure are you that Magu will not run away with the repatriated loots like his ex-colleague, Larmode? Please wake up!

I pray that you receive #commonsense asap to understand that almost everything we use in this country is imported hence; the need to stabilise our local currency against its foreign counterparts by encouraging Nigerians to patronise made in Nigeria goods which will stimulate the economy NOT telling us some useless loots repatriation theory. A country that still imports toothpicks and pencils after over 55 yrs of existence still has a long way to go.

God help Nigeria

very nice post! the question nobody is asking is "Where is ibrahim Lamorde'? "What has happened to the recovered loot in the last 6 years"? I see we are not very good with history as a people.

Sant1m:
Under Gej oil was sold for above 120, were are those reserves today, You like it or not Gej mismanaged our reserves and brought us to where we are now. No matter how you guys try you cannot divorce yesterday's mismanagement from the consequence we have today.
You claim Gej had the best economic team but Iweala herself admitted that GEJ GOVT BORROWED BILLIONS OF DOLLARS to pay salaries in the first part of 2015. She equaly agreed that there have not been capital releases since the second quarter of 2014 due to dwindling finances. "Nigeria cannot eat her cake and still expect to keep the coin", our reserve is still virtually what it was when Gej handed over, if i inherit the level of Dangotte's wealth, are we saying Dangotte conglomerates will suddenly become broke under one year because i am a bad manager? If that happen then know that there were hidden toxic assets and due loans that caused it. You like it or not corruption was the main source of funding the parallel or black market under Gej, the value of the dollar then was artificial. 2.1B dasukigate funds, dollars handed out to delegates during the election where were they exchanged?
The current mess of the dollar (I guess you mean Naira) is as a result of Blockage of revenue leakages and implementation of TSA. Its natural for the economy to react to adjust itself to this sudden stoppage of easy and illicit cash.. Go and check the value of South Korea currency to the dollar and you will agree with me that, a countries currency value is not a death sentence, its an opportunity for us to improve our productive base while seeking to be self reliant. PDP AND GEJ ARE TO BLAME

Please what theory of economics are you quoting here?! Share so that we can learn too.

very immature rant! ..And as expected, you have failed to tell us how to move forward in this circumstance. BLAME! BLAME!! BLAME!!!

yahoo boys hava na! double ur hustle!

I command the naira to receive value and come up to =N=120 to $1 in Jesus name.


Amen.

I am so loving this



Nigerians, will u still vote in APC come 2019?

The problem we have in this country is not APC or the leaders but the common man on the street and online forums like Nairaland who are very stupid to see the truth because their eyes are blinded by hate and ethnicity. imagine that GEJ is the one in power and all this things are happening. he would have been killed or impeached but because buhari is a northerner nobody sees anything wrong in every thing he does, no mass protest no opposition then how can this country grow? this is the reason why most Igbo want their own country where people are reasonable and creative. let us agree that the last administration was very bad, what economic move has this government made since it came to power? nobody should tell me that its too early to judge cus its almost a year now without any policy in place let a lone credible and competent people.

Temi231:


I have been expecting something sensible like this write up since reading. Nigerians should stop complaing about one president or the other and face reality. We are the cause of these situation at hand. We buy almost everythin from UK, u.s even to our pant. We never cherish any of our product because of showing level. We should all buy our product and put our naira into making a good business that we also can export into another countries. With this, our naira against dollar will be okay. This is just the beginning.

When I did alert people to the need to take personal responsibility, when I did say the Presidency is overrated. When I did say we should elevate institutions above individuals. When I did say we should restructure our nation. When I did say we should change the game rather than the players. When I did say the majority of Nigerians donot have a clue as to how nations are built. When I did say without equity and justice we can never see the promised land....Nigerians said the one and only problem is corruption and remove a bad Jonathan and replace him with a good Buhari and all other things shall be added unto us. So....how far?

Father intervene

banmee:


Those are just big words. All a country needs is it's finance minister and CBN governor or in the case of the U.S, The Federal Reserve Chairman. Fred Berananke helped the U.S get out the worst recession they'd ever seen. If anyone is not cutting it then you fire them. We just like doing things in a weird way in Nigeria. Committees, councils, "economic teams", probes, etc Recessions are not new. America has had more than a score since the country came into existence. The only problem with Nigerians, based on history, is that they do not know how to handle issues.

Gbam! You will hear something like...in Nigeria things sort themselves out [with time]..wtf

Nigerians, especially the political elite hate to think...unless to scheme how to loot public monies.

This is one hell of a ride we are in.

Even if the price of oil rises to 5000 dollars a barrel Saudi Arabia cannot becone a US or China or have the peace of a Norway or Sweden thoughtless of Nigeria.

If we don't restructure this country and we continue to play this game, we can only lose.

No matter how much water you pump into a basket, it cannot quench your thirst as much as a spoon. The di3ference between a spoon and a basket is....structure.

There are countries which produce more oil than us but careless about the price because of....structure. They don't DEPEND on it.

Dangote is symptomatic of what Nigeria should be. The price of cement has remained stable. He is apolitical, detribalised, a capitalist and until recently had no business with oil. Now compare him with the average Nigerian, the average state and the nation at large. See where we are and where we should have been.

Acidosis:
Lol
$1 would soon become N1000.

Bubu promised us something berra
$1 -#1

Acidosis:
Lol
$1 would soon become N1000.

Bubu promise us something berra
$1 -#1