Sanchase:
Nigerian market is a virgin market, there is nothing you can't sell in Nigeria. When you research the 4P's of marketing it will help you make a better decision.

yes there are shyt loads you can sell in Nigeria.There are raw materials Nigeria needs.Want me to name them?

blazer234:


Use your head to reason Mr. And stop being blinded by political affiliation. It is the soul of Nigeria we are talking about here. The wide difference between official rate and black market rate does not spare people of certain political party; everyone is affected.

Fayose said something that every Nigerian with useful brain will think deeply about.: workers are paid at the rate of 199 per dollar, but they have to pay for goods at the rate of 400 per dollar.

Is that too complex for you to understand?

Fayose may have his faults, but every Nigerian with sense will agree he is making a good point this time.

I thought you used your head, a civil servant that is paid 50k naira per month, how much would he be paid after devaluation?

Pesuzok:


I thought you used your head, a civil servant that is paid 50k naira per month, how much would he be paid after devaluation?

You guys are too lazy to think out of the box, his salary will remain same 50K but its value will increase due to devaluation.Simple economics for A level students not O level

dunkem21:
OK, let me ask my people ..

If you stand with Buhari and don't want the Naira devalued, click *Like ..


If you share Fayose's view that Naira should be devalued, *$hare ..

It is surprising how many people clicked like here, not knowing that Naira is already devalued.

For the common man, most importers and most middle income earners, they can only access Naira exchange through the black market at the devalued rate.

However, the rich and highly connected have access to Naira at the official rate of $199.00, these should been the people opposed to Naira devaluation because it will stop their abilities to profit from the dual exchange rate on its track.

Devaluing Naira levels the playing field for everyone and I dare say to even 100% of all those who have clicked liked.

Also devaluing Naira will reduce the current hyper demand for dollar, thereby increasing the value of Naira...This is because, there will be no more incentive for the rich and highly connected to keep demanding for dollars at the official rate only to turn around and sell it the next second at the black market rate.

The above will also save the government lots of revenue for the mere fact that the rate at which the government request for Forex to keep up with demands will reduce after eliminating/reducing round-trippers demands.

The need to artificially hold on to dollar in the hope of it raising against the Naira will also reduce.

The fact is, whether we like it or not, Naira is already devalued..the current gap between the official rate and black marker rate is not sustainable, very soon something will have to give.

Nigerians shouting "Devalue devalue devalue Naira".

All those people shouting devalue have stacked up foreign currency,

infact anybody that shouts devalue again will have their property and accounts

investigated by the EFCC .

.

dotcomnamename:



[size=15pt]Don't worry your self. Buhari know wetin him dey do. Remember when Nnamdi Kany was doing the same? but Buhari was cooking his soup. Now he's eating his soup in the zoo. You sit back and relax. you will see the Delicious soup Buhari is cooking for Fayose, by then the waillers will switch their wailling to gear 3. [/size]

I dey pity gov PITA FAYOSE.Make we dey watch who go cry last

massinola:
If with corruption $1 was equal to #216 and now without corruption $1 is equal to #400, wouldn't it have been better we stood with corruption?

GEJ era beta pass. dia is massive corruption going on in dis dollar scarcity created by buari dullard.

erico2k2:

Have you applied for forex from the CBN B4? I guess not well I have, its still in thier office via my bank for the past 3 months.I only wanted $21K to import CNC machines and $5K for my nieces school ,I have to co me back to the Uk to earn forex to achieve this cos no way 4ward i n Nigeria.This why I say there is a big fraud going on and you lots are cheering them ON

we should pressurize the cbn to make forex available easily through the official window and not screaming at the exchange rate increase which is not official

GudluckIBB:
What does Fayose a fake HND holder knows?

Ali Mordu Sheriff's Emergence is bringing down PDP and he's asking Buhari who doesn't even knows he exist to devalue Naira!

Its a pity!

Buhari is finished. Pure water is now 100 naira a bag.

The complaints are getting too much. I am apolitical but I admired his immense integrity.

His baseless economic policies are ruining the country

otitokoroleti:
@sibrah, banks sell dollar at the rate of 350-370/$1 to importer but buys at 198/$1 from exporter, how do we define that? if you were charge at the rate of 350-370/$1 I think buying it back at 340/$1 is a fair deal. my brother, 199/$1 is a scam. CBN & commercial banks are the greatest scam of the century, they sold dollars at black market rates bt buys at 'buhari official rate'. forget all the fake stories circulating around.

anyone you see selling to banks at rate pls direct to me i can offer him more. Thanks.

erico2k2:

bro 300 and 400 which do you preffer? and if and when things improve we can always go back to 250 then 200 then 180 etc, as at now the banks are killing the common man, I should be happy cos I earn Forx, I get paid in Pounds.

lucky 4 u....but some earn in cefa

dunkem21:
OK, let me ask my people ..

If you stand with Buhari and don't want the Naira devalued, click *Like ..


If you share Fayose's view that Naira should be devalued, *$hare ..

Question: If you like 1+1= 2, click like.

If you don't want 1+1=2, click share.

Is the issue whether you like it or to simply accept it? Be pragmatic, do they even have a choice to like it or not?

Buhari is our own '' MOYES"

There is a lot of sense in what my governor is saying. Devaluation is not all that bad. PMB and most Nigerians are just stiff scared about it . Am not an economist, but I know that we are just deceiving ourselves pretending all is well by not devaluing.

In the long run we will all suffer for it.

Haha, bro so your problem is the price of bag of pure water lol.

grandstar:


Buhari is finished. Pure water is now 100 naira a bag[color=#990000][/color].

The complaints are getting too much. I am apolitical but I admired his immense integrity.

His baseless economic policies are ruining the country

Ogogoro governor he nEeds more money to cut onmo as ussual

KEEP DREAMING

joborskill:
Out of 36 governors why is this man the only one bullying Buhari everytime? Why cant Buhari deal with this thug with the numerous evidences of the Ekiti gate scandal? I hope they declare a state of emergency in ekiti and put this ponmo cutter in kuje prison beside his newly adopted tribesman called Nnamdi Kanu

Last I checked, Mr. Fayose is not an economist so I'm guessing this is the Idea of his economic advisers who should tender an apology to the Governor. Devaluing the Naira means the manufacturing industries and importers of petroleum products will now buy dollars at a higher Naira rate which will lead to a ripple effect causing commodity prices to rise dramatically. The result will be worse than the economic crisis the country is presently experiencing.

Devaluation of the Naira will also not lead to appreciation of Naira in the parallel market since CBN no longer advances foreign exchange to bureau de change. Although the situation is difficult for medium scale traders involved in import related businesses, devaluation of Naira is not the solution. The present Buhari regime is concentrating the scarce foreign exchange on essential industries in the country thereby leaving other businesses with little or no choice but to trade locally to boost industrialization.

otitokoroleti:
without sentiments, Fayose really made sense with his explanation about the devaluation. to be honest with ourselves, Buhari led CBN policies is doing us more harm than good. you earn at the rate of 199/$1 but buys at the rate of 391/$1. People who transact in dollars will understand better e.g young guys doing domain flipping business, a situation where bank charge them 391/$1 while buying the domain but paid at the rate of 198/$1 after selling the domain. the prices of almost everything is on the high side e.g rice, beans, transistor radio, battery, mobile phone, motorcycle, motor vehicle, locally made furniture, locally made foam, etc

Leave those theoritical economists to be fooling themselves....

Banks are busy duping Nigerians

erico2k2:

You guys are too lazy to think out of the box, his salary will remain same 50K but its value will increase due to devaluation.Simple economics for A level students not O level

So how would the value of the salary increase when you have devalued the currency. Please answer in A level, I know I am lazy but not all nairalanders

Sibrah:
anyone you see selling to banks at rate pls direct to me i can offer him more. Thanks.

you mean you have your own bank? dont you know that the payment will be forward to your bank directly? have you received any payment from foreign merchant? if yes, you need to understand my post.

massinola:
If with corruption $1 was equal to #216 and now without corruption $1 is equal to #400, wouldn't it have been better we stood with corruption?

Copy cat,you morals are dead.

coolsix:
Only those of us who deal in dollars will understand.

#DevalueNairaNow

So for the benefit of "those of you that deal in dollars" the rest of the country should go to shit?

Like Fayose rightly pointed out, the parallel market has been devalued. Source for your dollars there.

massinola:
If with corruption $1 was equal to #216 and now without corruption $1 is equal to #400, wouldn't it have been better we stood with corruption?

By supporting corruption for no useful reason, I believe dat u are a waste citizen.

I am afraid if you will benefit from the goodness of this country after it has been clean from dirt father of yours.

Why Fayose is looking for FG to devalue naira for the purpose of enriching himself see what the world has to say about Ekiti "Ekiti still leads in open defecation in Nigeria, stakeholders lament". A man that cannot find solution to what happen in his backyard wish to solve problem faraway from him.

gboss4sure:
Fayose said nothing but the truth.

Only the cursed zombies won't agree with him as a result of aisha's jellof rice.

Your likes nothing good comes from them.

gboss4sure:


What does an educated illiterate know?

Buhari claims dollar is 199 abi 197 but not even 1% of Nigerians can access dollar at the rate.

You must have very long leg to get dollar at the so called official rate.

The naira has been unofficially devalued, we are just deceiving ourselves if we claim that naira is selling @ the so called official rate.

Finally, buhari knows what he is doing, enriching his brothers at the detriment of other Nigerians.

Like I said nothing good comes from people like you.

Tolux17:
Fayose made sense. Now there's no increase in salary but the prices of good are increasing daily.. What will cover for this shortage? Naija don enter one chance...

Ayam telling you. That's why it's good to have a leader not a clown

grandstar:


Buhari is finished. Pure water is now 100 naira a bag.

The complaints are getting too much. I am apolitical but I admired his immense integrity.

His baseless economic policies are ruining the country

Why dabbling into what you don't know? What concern bag of sachet water with dollar? This is a locally made good and dollar doesn't affect it. If I may ask you, do you import water, nylon or the chlorine for purification of the water? There's nothing concern locally made goods with dollar. The problem will have in Nigeria is because there is no 'Price Control Macenery' every producers and sellers just do whatever they want and put the people under strain. But I don't know if the exchange bill of Nigeria is now dollar?
I'm so surprise, what concern egg, yam, garri, pepper, tomato, semovita, water etc with dollar? This is unthinkable.

Lool.

Even the illiterate stomach infrastructure bandit also has an opinion about economics. Hysterical.

I honestly don't think a lot of the proponents of devaluation understand how messed up naij's economy is. Ditto the fact that the reserves are depleted, and there's nothing to peg it to. Perhaps they're either all looking for ways to give the looted funds they have to grow wings, or due to selfish interests cos the black market rates doesn't favour whatever they have going on outside naij.

Once you devalue it, and it keeps falling - then what? What about the inflation that will arise after devaluation, any solution on how to fix that?

With dollars becoming very expensive like diamond, medical tourism will reduce, crave for foreign studies will drastically reduce and we may be forced to look inward to strengthen our institutions, frequent trips to Dubai will reduce, our market women will grow in fortunes as things like Brazilian hair will disappear and our local hair braids will take the center stage.
Abeg add your own as we move to stop subsidizing the few rich at the expense of the plenty poor.


Yeye Fayose

I guess everyone with Buhari on this economic downturn has kept their jobs till now or have jobs else u all won't be so eager to side with Buhari. Its just messed up guys what r we arguing ourselves for when the president is just traveling up n down. He avoided debate so we don't even know his capabilities...yet we voted him. Be wise and talk less shit