₦airaland Forum

PMB has recently reiterated that he will not devalue Naira........Lots of Nigerians are glad about this, please I beg to differ.

There is a difference between a popular statement by the president and a feasible plan for our economy. Talk is cheap, currently Buharinomics is making Nigeria taxpayers lose out by up to 90% of revenue from oil export. We make money from our export at the official price but pay money for import at the parallel market price for most consumer goods and services either imported or made locally, (The slogan is dollars has risen so should our price, but officially it has not). Stagnant wages chasing expensive goods. As we speak no industrialisation policy, no objective on power, non on education, not aware of any on health etc and Nigerians are harping on HOPE. Wishful thinking does not move a nation forward.

For those asking for more time, I agree with you because Rome is not built in a day except that the foundation was started years before the completion of Rome. Has this government never heard of "low hanging fruits" and "quick wins".

Thank you PMB, next week will see further devaluation of Naira due to your speech. My advice to people who want to send money home next week, please hold fire till Thursday of Friday to maximise gain for the week. PMB you are an hypocrite, why did you holiday in UK recently? Why not go to obudu cattle ranch, olumo, idanre hill etc. Your holiday few weeks ago also helped to weaken the Naira.

When Jakande the former governor of Lagos State came up with a policy to discourage private education, he showed examples by making his kids go there. What we have now in Nigeria is similar to Animal farm........Mandela never visited hospital outside South Africa in his dying days.

According to Abokifx, even Nigerian Banks ATM rate for forex is not the CBN rate,

BANK ATM RATES
DATE LOCATION BANK RATE CUR
20/02/16 U.S.A 1st bank N387 USD
20/02/16 Austria GTB N353 EUR
20/02/16 Austria Stanbic N321 EUR
20/02/16 U.S.A GTB N320 USD

Please who are the Nigerians that still believe Buharinomics is working?

Everyone now knows buhari is a joke! Even zombies know in their hearts just being heady.

Very well written, straight to the point.
Bubu is a disaster.

This deserves front page, where's Lalasticlala self.

Na one chance we don enter. We will have to wait for Buhari to resign or some sort of miracle because I don't see any positive change in situation anytime soon.

Lord please take that thing called gmb away from us, his bad luck is affecting everything.

Why you kon dey cry naw?..if naija too hot go to ghana!!!!!

Nigeria will not and CANNOT be better than the mentality of her citizens -D. ILORI

babyfaceafrica:
Why you kon dey cry naw?..if naija too hot go to ghana!!!!!

Do you have any idea why the Naira is depreciating and what can be done in the near term to strengthen it?

Ole boy no vex. What kind of voodoo arithmetic are you doing that proves Nigeria is losing 90 percent revenue?
I like the way you write, it is short and sharp but almost everything else is a BIG LIE .

The Nigerians make foreign exchange when they export. That is not as simple as government revenue.
Goverment revenue is primarily from you and me paying taxes and selling oil and gas.
The foreign exchange thing kicks in only when we need to pay for imports. Nigeria does not exist for dollars. Please get things straight.
Our GDP size and the productivity within our economy ate the determinants of true value and wealth. Thete was an articke in Newsweek magazine a few years ago that the US economy was so big that they coukd grow by trading with themselves alone without internationsl trade . Please stop oversimplifying and turning an opportunity to restructure our economy into a joke.
North Korea , Iran and Russia grew their economies in an regime of internationsl sanctions in the last few years. Nigeria can survive with minimal imports.

The people you shoukd be blaming are the Jonathan administration. Do you know how nuch money Nigeria would have veen making from petrol exports and petrochemical exports if we had had a good president in place of Jonathan?

Adminisher:
Ole boy no vex. What kind of voodoo arithmetic are you doing that proves Nigeria is losing 90 percent revenue?
I like the way you write, it is short and sharp but almost everything else is a BIG LIE .

The Nigerians make foreign exchange when they export. That is not as simple as government revenue.
Goverment revenue is primarily from you and me paying taxes and selling oil and gas.
The foreign exchange thing kicks in only when we need to pay for imports. Nigeria does not exist for dollars. Please get things straight.
Our GDP size and the productivity within our economy ate the determinants of true value and wealth. Thete was an articke in Newsweek magazine a few years ago that the US economy was so big that they coukd grow by trading with themselves alone without internationsl trade . Please stop oversimplifying and turning an opportunity to restructure our economy into a joke.
North Korea , Iran and Russia grew their economies in an regime of internationsl sanctions in the last few years. Nigeria can survive with minimal imports.

The people you shoukd be blaming are the Jonathan administration. Do you know how nuch money Nigeria would have veen making from petrol exports and petrochemical exports if we had had a good president in place of Jonathan?

If got what you a saying, you meant that Jonathan destroyed Nigeria?

Bubu's body odour have never been of any effect as the gentle devil in sheep clothing is qwarruption personified. Only the deluded zombies have this grandeur delusion of him.

There is nothing that will make me to support this Buharinomics which is DOA with multiple problems and no end in sight

Is it Gej tht tht pmb to be clueless ?
. Gej has notn to do with what is happening now coz he wasnt the one tht made oil price to crash,,
The nxt u will say him & his co horts squandered our reserve & couldnt save for the future,,,but Gej was saving thru ECA untill amaechi,oshiomole & co. sued the then fg to share proceeds from the ECA & the governors won the case then tht was how money tht would been saved for raining days was shared among the greedy & unpriductive governors led by amaechi,oshiomole,fashola.,all in the same govt.of change

To make it simple for you, please when we export crude oil and get paid in dollars as at today, what is the rate of dollars Nigeria treasury get paid? CBN rate of course. The taxpayers get money at CBN rate but when the taxpayers want to pay for pure water which is locally made, it is now double the price they were paying before PMB. Ask the sellers why, they say dollars have gone up. So ask yourself has Naira not been unofficially devalued?

Adminisher:
Ole boy no vex. What kind of voodoo arithmetic are you doing that proves Nigeria is losing 90 percent revenue?
I like the way you write, it is short and sharp but almost everything else is a BIG LIE .

The Nigerians make foreign exchange when they export. That is not as simple as government revenue.
Goverment revenue is primarily from you and me paying taxes and selling oil and gas.
The foreign exchange thing kicks in only when we need to pay for imports. Nigeria does not exist for dollars. Please get things straight.
Our GDP size and the productivity within our economy ate the determinants of true value and wealth. Thete was an articke in Newsweek magazine a few years ago that the US economy was so big that they coukd grow by trading with themselves alone without internationsl trade . Please stop oversimplifying and turning an opportunity to restructure our economy into a joke.
North Korea , Iran and Russia grew their economies in an regime of internationsl sanctions in the last few years. Nigeria can survive with minimal imports.

The people you shoukd be blaming are the Jonathan administration. Do you know how nuch money Nigeria would have veen making from petrol exports and petrochemical exports if we had had a good president in place of Jonathan?

U are already lamenting GEJ when pmb is yet to buy a single bullet for bh war,,& he is winning the SOFT TARGET war with GEJ war tools.

i wonder what u all will start to say if he had bought just one bullet for the war..
. pmb dont understand governance & tht has wat has brought us to the level we are today..
. A typical example is,,,hw can a president give 2 heavy portfolio to just one minister to handle..i have never heard of tht from anywhere in the world..
anyway,enjoy ur change while it last

My support for Buhari started wavering after the choice of his cabinet, more importantly giving power and works & housing to a minister was beyond my comprehension. His budget was the straw that broke the camel's back.

Achuwa1:
U are already lamenting GEJ when pmb is yet to buy a single bullet for bh war,,& he is winning the SOFT TARGET war with GEJ war tools.

i wonder what u all will start to say if he had bought just one bullet for the war..
. pmb dont understand governance & tht has wat has brought us to the level we are today..
. A typical example is,,,hw can a president give 2 heavy portfolio to just one minister to handle..i have never heard of tht from anywhere in the world..
anyway,enjoy ur change while it last

Buhari OUT NOW. HOpe that kid mod won't ban me for this.