₦airaland Forum

Buhari should Nicodemusly contact this man. No harm in that.

ndigbo:
That was not grammar, the guy simply spoke the truth following simple Economics principles!

The guy was only asking, how, Ubah intends to achieve what he said on Channels TV!

Which by me, has not said anything wrong!

...and which by me also, I don't expect Ubah to let out to the public, call it business secret, code whatever you like

mauriceju2:
Stop talking like these before you end up disgracing yourself, when it come to business there is no tribe that can challenge Igbos, they can do anything when it come to practical business, they can grow any type of business and provide impossible business solution , e.g. After the civil war it took igbo’s nothing and no time to build their town and cities back without the help of any government, can the Boko Haram north east build their town back after war like Igbo’s without the help of government? Despite the fact that Jorubas stole all their money in billions and give them back only 20 pounds they still come back with full force and surpasses both Yoruba and Hausa in term of business and development, without the war no other tribe will see Igbo back, every kobo they had was taken away by Yoruba but they still build up with nothing to the level you are seeing now, if Igbo man is talking in term of business if you are a Yoruba or Hausa don’t go there because you cannot challenge them , Yoruba man wait for enemies to kill themselves then they go after the spoil, Hausa reap where they did not saw because a demon called Allah told them so, Ask Ifeany to advice the government instead of ignoring him he may have something that may shock you because they are expert in business, im not Igbo but i won’t deny this truth

I do not need to comment on all the jargons in respect of your so called wizardry in business of the easterners but takes exception to the accusation of the Yorubas taking over their properties after the war; so those in port harcourt and north were also taking taken over by the yorubas abi? You must be beclouded by something beyond physical to have vomited this gibberish I swear!

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 just wasted a lot of space.

Uba may not follow your plagiarized analysis but he has done the most important thing--challenge the government.

The FG should take him up on the offer since he is risking his business empire. They can then prove him right or wrong.
/

InvertedHammer:
/
You just wasted a lot of space.

Uba may not follow your plagiarized analysis but he has done the most important thing--challenge the government.

The FG should take him up on the offer since he is risking his business empire. They can then prove him right or wrong.
/

this guy just proof the blindness n how easily people can get distracted from the fact that a certain man throw a challenge to the federal government

fortune1968:
and buhari is still on course. Did he tell you the time ? but surely before the end of his second term .Just cool down ,Mr.Wailer ,Sai baba has just started clearing the mess left by the Clueless Ineffectual Buffon-your hero and mentor !

It is the choice of Nigerians to go forward by voting transformation or go backwards by voting change. That is words of wisdom by GEJ. You have voted your change and this is where it has landed you. I proud to be a wailer than being a liar. You think if Bubu crashes Nigerian economy that it's only PDP will suffer. I am laughing @ you.

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.

But Bubu said he will make one naira equals to one Dollar

Oya, gov of central bank should meet Uba for the magic wand!

A crook trying to warm himself into Buhari's heart in order to escape EFCC searchlight that is bound to focus on him sooner or later.

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.

Your analysis is no doubt very much on point sir and i must commend you for educating nairalanders but sometimes herculean tasks require crazy, out of the box thought processes mostly displayed by nerds, geniuses, creative folks and more importantly God's prophets, even though I hate to sound religious. A prophet once declared in Israel that the comatose economic situation will change within 24hrs and some experts faulted it, citing economic indices, faultlessly as you have done here but the prophecy came to pass anyway. The business mogul may just have an ingenious solution characteristic of geniuses and nerds or may even be God's prophet to save the nation at such a time as this. I think our govt. should hear him out, especially as some have quoted him as making good some form of gargantuan claims in the past. Cheers bro and may God bless the Federal Republic called Nigeria.

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 &amp;amp; 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 &amp;amp; Feb 2015) because the Reserves were too low (&amp;lt;$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.

My brother, you just highlighted that this exchange problem is as a result of dollar scarcity in the country at large...
What if Dr Uba has about 100 million or 1 billion $ raw Cash stashed in a vault somewhere, and willingly injects it into the economy by directly exchanging it for naira at a pegged 199 exchange rate at CBN... Do you know that could temporarily drop the rate on the parallel market in a very sharp manner, afterall it's an artificial effect caused by the simple law of demand and supply. Don't forget the official Forex rate for the dollar to Naira is 199... Dr Uba might be making a point you know.
I mean it's not rocket science.

optimusprime2:
My brother, you just highlighted that this exchange problem is as a result of dollar scarcity in the country at large...
What if Dr Uba has about 100 million or 1 billion $ raw Cash stashed in a vault somewhere, and willingly injects it into the economy by directly exchanging it for naira at a pegged 199 exchange rate at CBN... Do you know that could temporarily drop the rate on the parallel market in a very sharp manner, afterall it's an artificial effect caused by the simple law of demand and supply. Don't forget the official Forex rate for the dollar to Naira is 199... Dr Uba might be making a point you know.
I mean it's not rocket science.

Then that would simply validate my last statement as the only plausible option he may have.

stancydg:
Your analysis is no doubt very much on point sir and i must commend you for educating nairalanders but sometimes herculean tasks require crazy, out of the box thought processes mostly displayed by nerds, geniuses, creative folks and more importantly God's prophets, even though I hate to sound religious. A prophet once declared in Israel that the comatose economic situation will change within 24hrs and some experts faulted it, citing economic indices, faultlessly as you have done here but the prophecy came to pass anyway. The business mogul may just have an ingenious solution characteristic of geniuses and nerds or may even be God's prophet to save the nation at such a time as this. I think our govt. should hear him out, especially as some have quoted him as making good some form of gargantuan claims in the past. Cheers bro and may God bless the Federal Republic called Nigeria.

I can categorically say Ubah doesn't have any novel idea on how to run an economy, because he has not shown any interest in contributing to the real sector of the economy.This problem of ours has been there from the time immemorial, it was made obivious by the drastic fall in crude oil prices. There is no any miracle somewhere. Ubah statement can be liken to a design Engineer that was building a bridge. Instead of the Engineer to make necessary design b4 the construction phase of d project. He failed to calculate truses that will give the bridge structural strength. He just assumed and comes to a conclusion. I can tell u such a bridge will collapse. Ubah should tell us in a simple economy term how he wanted to stabilise naira at the rate he mentioned.We have people that have a clear understanding in Naija, they can analyse and see the possibility. If he fails to do that, his solution doesn't have a basis and it can never be sustained.

Moreover, I am just being hopefu that the price of crude peak in the international market, and Nigeria should plan to start exploring other area of the economy. At least increase in oil price will definitely brings a succour, but is not actually a sustained solution.

This problem is an indication that we need to develop infrasctructure for business to thrive in Naija. We need good road, electricity, water etc.


We can't under estimate important of science and technology, innovations that will help industry to thrived locally. All these will strengthen naira and less importation will be feasible.

It is only when we have all these in place, we can start talking of having a competitive economy.Naira can be roughly d same with dollar. All these take a lot of time to achieve.Government needs to be strategic and plans for the present and future.

Tell me what Ubah has been doing all these while, since he has d fastest approach to make our economy competitive. I can tell u, this man doesn't know what he was saying. He was just fortunate to hit billions probably through dubious means and he was wise enough to invest that money, not even in the real sector of Nigeria economy. Please help me tell this man to shut up, because he doesn't know anything. If it was dangote saying this, I would have listen to him.

stancydg:
Your analysis is no doubt very much on point sir and i must commend you for educating nairalanders but sometimes herculean tasks require crazy, out of the box thought processes mostly displayed by nerds, geniuses, creative folks and more importantly God's prophets, even though I hate to sound religious. A prophet once declared in Israel that the comatose economic situation will change within 24hrs and some experts faulted it, citing economic indices, faultlessly as you have done here but the prophecy came to pass anyway. The business mogul may just have an ingenious solution characteristic of geniuses and nerds or may even be God's prophet to save the nation at such a time as this. I think our govt. should hear him out, especially as some have quoted him as making good some form of gargantuan claims in the past. Cheers bro and may God bless the Federal Republic called Nigeria.

Every Nigerian wants to hear Ubah out, not just the government. But he is being true to type, he wants to be consulted so he milk the country millions in consultancy fees.
---
Nigeria is in an exchange rate crisis. If he is, indeed, a patriotic Nigerian, he should air his views openly so we can all interrogate his suggestion. The Israeli prophet you referred to, most likely, aired his views openly.

InvertedHammer:
/
You just wasted a lot of space.

Uba may not follow your plagiarized analysis but he has done the most important thing--challenge the government.

The FG should take him up on the offer since he is risking his business empire. They can then prove him right or wrong.
/

Plagiarised analysis? Very funny!
---
The government does not need to take Ubah up on any nonsense offer. He is a Nigerian elite, he has access to the Presidency, NASS, CBN, media houses, etc. Let him vomit what he has to offer. Why does he need to be consulted before he offers suggestion to help his country in crisis?

Bevista:
Then that would simply validate my last statement as the only plausible option he may have.

Which is quite likely, especially since he "is" quite capable of pulling a stunt like that.
I mean a man of his caliber is very very capable of pulling it off, as he has the resources, networks, contacts and means to...
So on this one, he shouldn't be underestimated.

Bevista:
Plagiarised analysis? Very funny!
---
The government does not need to take Ubah up on any nonsense offer. He is a Nigerian elite, he has access to the Presidency, NASS, CBN, media houses, etc. Let him vomit what he has to offer. Why does he need to be consulted before he offers suggestion to help his country in crisis?

He needs to, because should incase he decides to lets say; offload a cash bulk amount of 10 million $ from a foreign account that he owns, and intends to cart it into the country as part of an economic strategy to resuscitate the nations economy, he would need diplomatic immunity from the Federal gov't in order to cross borders without issues.
That's why he needs the Governments approval as it would involve the Executive, legislative and Judicial approval...
#Ubahasapoint

optimusprime2:
Which is quite likely, especially since he "is" quite capable of pulling a stunt like that.
I mean a man of his caliber is very very capable of pulling it off, as he has the resources, networks, contacts and means to...
So on this one, he shouldn't be underestimated.

Except the dollars he has (or can mobilize) is in billions, then the solution will be temporary and will revert back to current levels in a few months.

millionaireman:
Buhari to consult you?

Why can't you be president of Nigeria to achieve the feat?

Because the skewed political structure of Nigeria that makes Arewa politicians largely dictate who presides over Nigeria won't let Uba become president of Nigeria.

Nigerians must first understand that the skewed political structure of Nigeria which made once one northern Nigeria federating unit become 20 federating units, while the two southern federating units yielded only 17 federating units, that's the problem with Nigeria.

Restructure the polity first such that Arewa politicians shall no longer have the capacity to throw out such leaders like Obasanjo, Buhari, etc.

Have you ever seen a map of Nigeria? I make very big maps; come and patronise me

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. Remember Ben Bruce #BuyNaijaToGrowTheNaira? It's about demand management.
---
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.

No have gotten this number of likes since I have register on Nairaland but you know what God bless the person that give birth to you. I will have to do more research on this issues you raised God Bless.

Bevista:
Plagiarised analysis? Very funny!
---
The government does not need to take Ubah up on any nonsense offer. He is a Nigerian elite, he has access to the Presidency, NASS, CBN, media houses, etc. Let him vomit what he has to offer. Why does he need to be consulted before he offers suggestion to help his country in crisis?

/
If special advisers are getting paid for nothing, why should Uba work for free? Monkey go work; baboon go chop?

Consultants get paid for their services. Like I said, FG should take him up on the offer since he placed lien on his business. We are talking about the FG that seem not to have an iota of idea on how to tackle the issue.

Or we can let the slide continue while Buhari gallivants over the world. Uba is the only one so far that has offered solutions with personal risks involved. Everyone else is reading textbooks and vomiting the contents as if the textbooks were not written from the experiences of the ones who tried, failed or passed. Like I always say, issues like this reminds me of why oyibo remain the masters. They can formulate policies out of the wind.

Are you disappointed because the offer is coming from Uba instead of Martin Shkreli?
/

Ifeanyi Uba, Teach the dullard pls. He needs it

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 price collapsed from around $147 to $38 in 2008 due to the 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 and the administration faced its first supply shock, the CBN had to devalue the Naira twice within a period of 4 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. Remember Ben Bruce #BuyNaijaToGrowTheNaira? It's about demand management.
---
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 one.

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

Since the decline of the Naira, Ifeanyi Ubah has been mopping up any available forex in the black market. He probably has an underground vault somewhere filled to the brim with USD. Now that EFCC is dusting up his file, he is desperate to enter the good books of this administration by claiming messiah. He can actually do what he is promising, but not because he is a magician. He will simply flood the market with the USD he has been stockpiling.

Bevista:
I said that there is nothing that can be done "in the near term". Of course, export promotion can help supply but that is long term. No export policy today can yield results in the next 12 months Our priority should even be import substitution before thinking exports.

Both are needed. And please note there are many exporters that cannot thrive under the current policies and have therefore abandoned the efforts

A huge chunk of the export proceds we used to enjoy has been lost to other countries. Ask staff of most banks and they can confirm the massive decline in inflows of foreign exchange due to the policy. Who in his right mind would work so hard and be denied the fruits of his labour?

Consider if the existing exports are boosted, while the import restrictions persisted. You save money fro. The reduced import and increase foreign exchange from the enhanced exports. Not rocket science.

But rather we are restricting imports (which is a policy intended to enforce local subsitues) while discouraging exports. How then do you balance the books?

It's bizarre

Mboi:
It is the choice of Nigerians to go forward by voting transformation or go backwards by voting change. That is words of wisdom by GEJ. You have voted your change and this is where it has landed you. I proud to be a wailer than being a liar. You think if Bubu crashes Nigerian economy that it's only PDP will suffer. I am laughing @ you.

Any words of wisdom from jona ? you need think deeply. jona. ! Jonathan of a stealing is not corruption fame ! Somebody who looted and watch others loot with him ! Which transformation ? Jonathan had already wrecked Nigeria not only the economy .and the result we are seeing now . so wake up and purge yourself of the Ethnic hatred in you so DT you may see clearly .Sai baba !

Bevista:
Except the dollars he has (or can mobilize) is in billions, then the solution will be temporary and will revert back to current levels in a few months.

Unless Nigeria's finance squad is truly incompetent, they should be able to use the resulting effect to their advantage... And restore balance.

cruzclinton1:
......

Dude is our destiny to be rich.......if e vex u.....go lay egss

Of course i heard from a reliable source that Bill Gate is an Anambra man muppets

simplycarro:
Very cheap, however he can only cheaply persuade his fellow band of ethnic bigots.
Same Nnamdi Kalu's Crew members

am sure u must be very proud of your statements....thumbs up for bringing ethnicity into national discourse.I rep u

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 price collapsed from around $147 to $38 in 2008 due to the 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 and the administration faced its first supply shock, the CBN had to devalue the Naira twice within a period of 4 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. Remember Ben Bruce #BuyNaijaToGrowTheNaira? It's about demand management.
---
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.

Bevista that was a great analysis.Lets support Made in Nigeria goods.

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 price collapsed from around $147 to $38 in 2008 due to the 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 and the administration faced its first supply shock, the CBN had to devalue the Naira twice within a period of 4 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. Remember Ben Bruce #BuyNaijaToGrowTheNaira? It's about demand management.
---
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 you are saying is not a "secret",it is a basic economics which can be found in any economics text book.

But what Ubah is offering is a "secret" according to him.

There is a difference!

God will so much bless you bro!!

These things are obvious and not that difficult to understand / see but the high illiteracy level and nepotism of Nigerians will never allow us to see or say things the way they are.

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 price collapsed from around $147 to $38 in 2008 due to the 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 and the administration faced its first supply shock, the CBN had to devalue the Naira twice within a period of 4 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. Remember Ben Bruce #BuyNaijaToGrowTheNaira? It's about demand management.
---
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.