₦airaland Forum

Bugatie:
Stop the grammar and give him a chance, besides he has not asked to be paid or given appointment.

Another fool spotted

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

You could not have said it any better

irynterri:
maybe he knows something that you do not know

Don't be naive mate. It's similar to someone believing money doublers are real and would gladly double his/her money on a principle "he doesn't know".

Now this is interesting, i actually do not believe in a month that is possible but if we had a open government, they could have a televised chat with him and some persons from the presidency and let him educate us on how he chooses to fix this with no catch by the side for his personal gain.

lookandlaff:
noisemaker and prostitute

@prostitute .... Bhet why!!!

dunkem21:
Dollar did not rise in geometric progressions like this during GEJ's time ..

From 130 to 225 under 7months?

And why should it rise in progression when we sold oil for 70dollars during his tenure. We had better balance of payment due to better crude oil sales.

why the hate?this man is only asking to help is there harm in trial?why is it that when an igbo man speaks in Nigeria,yoruba and hausa interprets with tribalism and ethnicism.May God help us.

Mboi:
Yes he can do it. He is not Bubu that lacks integrity who promised Nigerians heaven and earth including making $1 to N1.
Ifeanyi Uba has saved Nigerians before in May 2015 when artificial fuel scarcity was killing Nigerians. He said he had enough fuel that will serve the whole country for weeks and he did it.
Now he said if given a chance he will make $1 back to N200 within one month, I know they will not want him to save Nigerians because of political selfish interest.
Very soon we’ll start hearing on news headline; How Capital Oil Boss Ifeanyi Uba Diverted $862billion from NNPC in 2014- EFCC

who stop him?what chance does he want?

tomakint:
Chief Ifeanyi Ubah how do you intend to achieve that? Our balance of trade is negative, global oil price has fallen, we are a consuming economy, we run an expensive system of government that bites hard on capital expenditure but caress recurrent expenditure, our FX is below $30 billion, and many indices aiding the free fall of Naira. So Sir, how do you intend to achieve that?

. Why are very poor countries like Zambia, Malawi, gambia, Ghana etc without a drop of oil to export have favourable exchange rate with the dollar and even superior to the naira

Restructure Nigeria politically such that every Nigerian can hope to vie for the presidency and win.

For now, what Nigeria has is a fraudulent 36 states political structure created by northern military dictators. The political structure assigned Arewa politicians the capacity to dictate what can be in Nigeria. To dictate who must be president, all it takes Arewa politicians is get a few more states from outside Arewa, deal done.

To stall any constitution amendment that doesn't favour Arewa, it doesn't need any help from any zone. Three senators come from every state. With twenty federating units newly assigned to Arewa by its soldiers, the north holds Nigeria on the jugular as it uses the undue large number of states and local government councils to siphon more of Nigeria's federal allocations to the north.

Restructure Nigeria politically to enable fair play, and enable quality leaders emerge for Nigeria.
A short while ago, even the one time US ambassador to Nigeria, John Campbell urged Buhari to implement the resolutions of the 2014 National Conference to straighten Nigeria. But shall Buhari listen to wise counsel?

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

Very explicit! Well done. This of course explains why Buhari is travelling to Saudi Arabia to see how a consensus can be reached to possibly reduce production thereby increasing the selling price of crude for more inflow of FX.

Some of u can comment negatively sha. I bet government partnering with private sector will help the economy. President Obama tried it years back n it helped america. We will be talking forward someone will be talking back

Mboi:
Yes he can do it. He is not Bubu that lacks integrity who promised Nigerians heaven and earth including making $1 to N1.
Ifeanyi Uba has saved Nigerians before in May 2015 when artificial fuel scarcity was killing Nigerians. He said he had enough fuel that will serve the whole country for weeks and he did it.
Now he said if given a chance he will make $1 back to N200 within one month, I know they will not want him to save Nigerians because of political selfish interest.
Very soon we’ll start hearing on news headline; How Capital Oil Boss Ifeanyi Uba Diverted $862billion from NNPC in 2014- EFCC

Some people can believe Anything !

Other previous presidents knew the great potentials of igbos in economy and brought them in their governments and never recorded the type of failure PMB is recording. Hatred against Igbos is bringing this nation down daily to abyss. Dollar will be 1000 to a dollar if PMB refuse to bring Igbos around him

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

You are part of our problem.Nigeria has many people like you and yet we suffer in the mist of plenty.Imagine you have this knowledge yet we are still sinking in hardship.I guess if the guy that invented air plane has shared his idea with you,you would have discouraged him saying its not possible and quoting all the ancient science that you know.lets give that guy a chance lets know if he really has something to offer so that we do not treat him like a certain Dr Agbalaka who claimed he has the cure for HIV only for the Nigerian medical association threatened him till they killed his dream. You are a typical black man

Am very sure that. When Nigerians stop the excessive supply of fake and unqualified product and focus on the export of their own home made goods and patronise Nigerian products then we will be able to meet up with other countries and dollar will be less meaningful to us

[size=8pt][/size]

razortruth:
Other previous presidents knew the great potentials of igbos in economy and brought them in their governments and never recorded the type of failure PMB is recording. Hatred against Igbos is bringing this nation down daily to abyss. Dollar will be 1000 to a dollar if PMB refuse to bring Igbos around him

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

If Only everyone makes reasonable comments like you.May God bless u abundantly.

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

Nice lecturing.

ubecharles:
. Why are very poor countries like Zambia, Malawi, gambia, Ghana etc without a drop of oil to export have favourable exchange rate with the dollar and even superior to the naira

Most of these Countries you mentioned hardly borrow above their means so their currency is somewhat stable.....unlike we, we borrow heavily and yet not a producing economy.

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

What is our problem. What're u defending? Is defense really necessary here? Has uba made any demand? Did u read d part whr he put his assets on d line if he fail? Don't ask me whether he mean it cos I don't read mind I don't even care hw they reach agreement(if it's what d fg shld agree on).

obailala:
Speak now and save your country or forever hold your peace, because if the country goes down, you will also go down.

Sorry not everyone will go down, some of us have been saving and banking in dollars for ages, if your cursed naira goes down, we become richer. Foresight pays!

mcgaius:
You are part of our problem.Nigeria has many people like you and yet we suffer in the mist of plenty.Imagine you have this knowledge yet we are still sinking in hardship.I guess if the guy that invented air plane has shared his idea with you,you would have discouraged him saying its not possible and quoting all the ancient science that you know.lets give that guy a chance lets know if he really has something to offer so that we do not treat him like a certain Dr Agbalaka who claimed he has the cure for HIV only for the Nigerian medical association threatened him till they killed his dream. You are a typical black man

So, you seriously th think Ubah has a magic to the exchange rate issue?

Na wa o.

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand

I may not understand much of what u are talking about but i know oil plays a major roll in d dollar currennt exxchange rate and ubah is an oiil marketer. Ubah and oda oil marketers were d main bedrock behind jonathans govt and reason why d dollar did not totally crash

mcgaius:
You are part of our problem.Nigeria has many people like you and yet we suffer in the mist of plenty.Imagine you have this knowledge yet we are still sinking in hardship.I guess if the guy that invented air plane has shared his idea with you,you would have discouraged him saying its not possible and quoting all the ancient science that you know.lets give that guy a chance lets know if he really has something to offer so that we do not treat him like a certain Dr Agbalaka who claimed he has the cure for HIV only for the Nigerian medical association threatened him till they killed his dream. You are a typical black man

Nobody is stopping Mr Ubah from sharing his views. He was on air yet he could not say what he believes can save the Naira. Why does he want special consultancy to help his country. A lot of Nigerians debate our problems and solutions openly on air so that others can hear and enrich the debate, but Ubah want consultancy from the government before he can advise them. So much for patriotism.

Uba has billions of dollars stacked somewhere. He probably wants to release them to make supply way higher than demand or what else does he want me to think?

240naija:
As the nation's currency exchanges at N400 to the US dollar on Sunday, Billionaire business mogul has said that if the Buhari-led federal government consults him, he could restore the nation's currency to an exchange rate of N200 to one US Dollar within one month.

Speak­ing on a Channels Television poli­tics programme on Sunday, billionaire businessman and the Chairman of Capital Oil and Gas Services Ltd., Dr. Patrick Ifeanyi Ubah, has advised the Federal Government to consult some Nigerians who can halt the free fall of the Naira which is affecting the na­tion’s economy.The Nai­ra currently exchanges at N400 to the US dollar.

The Publisher of The Authority newspapers, said that if the President Buhari-le federal gov­ernment consults him, he could re­store the nation’s currency to an ex­change rate of N200 to one US Dollar within one month, thereby arresting the slide in the Naira which is virtu­ally crippling the economy.

The Chairman of Ifeanyi Ubah Football Club, however did not say how he was going to bring the Naira down to an exchange rate of 200 per dol­lar, but said the government could seize everything he owns if he failed to do this within one month, if given the mandate.

Chief Ubah also affirmed that he was not involved in any way what­soever in the $2.3 billion Dasuki­gate arms deal that involved the for­mer National Security Adviser, Col Sambo Dasuki, adding that he was not in­volved in the politics of contracts and has never done any government con­tracts, whether at the Federal, state or local government levels.

"I am highly misunderstood, sometimes controversial. But I have never done any government contracts. I did not collect any money from Gov­ernment; I do not have an oil block – and I have not asked for one.

"I did not know Dasuki. TAN nev­er received money from Dasuki or the People’s Democratic Party. We did what we did in the interest of the na­tion and for posterity.

"I’m a politician with a mind-set of making life worth living for the people, when issues seem to be getting out of hand. So TAN has no hand in whatever that has to do with the arms deal fund."

He said following the controver­sies trailing the #Dasukigate, it has be­come necessary for him to extricate himself from allegations that himself and the non-governmental organisa­tion, Transformation Ambassadors of Nigeria (TAN), were in anyway in­volved in the sharing of the arms deal money.

https://www.tori.ng/userfiles/image/2016/feb/22/dr-ifeanyi-ubah-speaking-1.jpg
https://www.tori.ng/userfiles/image/2016/feb/22/dr-ifeanyi-ubah-speaking-3.jpg
http://www.levitoday.com/2016/02/i-can-bring-us-dollar-to-n200-in-one.html

. Liar, APC said it b4 they couldn't

simplycarro:
If you so much trust that dude, how do you think he can do it.?

This is the problem with Nigeria.why don't we first seek what he wants to do before we castigate him.
He might have an idea that our imbecilic top don't have or is it because he doesn't work in world bank?

abuc:
Consulting him will not cost the Government anything since he intend to offer free
advice. Anyone with credible ideas to save our Naira is required to share them as
soon a possible.

Forget ethnicity, religion and political interest. Nigeria is currently in a very big
danger and its time we all come together and share ideas on how we can save our
economy from total collapse rather than promoting propaganda, lies and deceit all
in the name of protecting our political interest.

Ifeanyi Ubah and anyone with information that will stabilize our Naira should offer
their solutions as soon as possible. Things Are No Longer at Ease

Why are you begging "tanoids" to help you? Would ApC have helped if they PDP were still in power and they had the solution?

When some people were told that the dollar can be brought from N198 - $1 to N1 - $1...they swallowed the joke hook, line and sinker. Now a shrewd international business man who knows his way around is volunteering to help the illiterate cattle rearer and his bunch of incompetent noisemakers reduce the burden on the Naira, AREA( Aisha Rice Eating Association ) members are here posting ignorant comments. If at the end of the day, the Kunu sipper decides to consult Ubah secretly and his ideas work, the same AREA e rodents will be all over the cyber space chanting "Sai Baba"!!
Word of advice...hypocrisy kills, because a hypocrite never acknowledges death, even if it stares him in the face. While your Mallam is on endless vacations to countries he must visit before death..let those who have the country's interest at heart do the needful. 25 countries in less than a year?! Preposterous!!

SegunAdewole:
Sorry not everyone will go down, some of us have been saving and banking in dollars for ages, if your cursed naira goes down, we become richer. Foresight pays!

While you celebrate your dollars, I hope your entire extended family and friends also have their savings in dollars too?... I also hope you have enough dollars to pay the battalions of mopols that would be needed to secure your stash when a humanitarian crisis starts?

jorgan:
@prostitute .... Bhet why!!!

unprincipled. he's just looking to seek favour with the new govt after masterminding that nauseating campaign against Buhari. 1st he started during fuel scarcity, calling pressmen in the middle of the night to picture him releasing PMS, trying to potray himself as a saint, when in fact ALL marketers had agreed that night to release PMS. If he has anything to say that will benefit the country say it in the open.


Actually I apologize to all prostitutes out there, it's an insult to prostitutes to call him a prostitute, he is a scumbag