siraj1402:
Oga what exactly are you insinuating? To continue importing?

doctokwus:
Speculators.
The real rate of the $ is somewhere around 250.
Due to the fall yesterday,people naturally mopped up available dollars and wud soon start releasing it to make profit.
The naira wud continue fluctuating due to speculation for some time to come.

babydioku:

1. What are the products you have made so far ?
2. How many millions of these products have you made?
3. Do you use power from the grid or power from your generator?

agbangam:
It is well, I sure know wit d new sherrif in town and Maximum patience and cooperation from Nigerians, we will surelly over dis trying tyms. @least one thing I haven't head for 7months now is d News of Money Missing.. Unlike d past administration were billions go dey disappear frm every sector

Teejava:
Op's high on cheap shit.
https://www.naij.com/741697-read-the-latest-development-on-nairadollar-exchange-rate.html

piagetskinner:



Oga no kill person with laugh...

How much is egusi selling 4 in ya area?

Kriztovar13:
Did I see this on fp this morning or am I dreaming??

"Naira Gains 30%, Sells For N250/dollar"

Progressive01:
Anyone that speaks this sort of english needs to "has" their tuition refunded.

EgusiSoup:


My brother don't mind these hypocrites on this forum that will not call a egusi a egusi

Egusi has climbed to #85 per cup from #50. Yet the dullard is looking for the next country to fly to.

GeneralShepherd:
Forex is hardly ever steady! Even the dollar and the pound, this is a known fact.

However, the instability of the naira is unprecedented, over the past three decades Naira has maintained a steady downward trend at an average 12% per annum.

Given this reality, I believe it is time for us to swallow pill of not just devaluing the Naira but allowing market forces to determine it's price. This will eliminate the parallel market, currency speculation and rent seeking.

Lastly, I want to stress that anyone blaming PMB alone for the fate of the naira is being unfair. PMB is not the sharpest tool in the toolbox but the blame should be equally distributed to all past Nigerian leaders!

They are all dumb,clueless and irresponsible. All of them!

martineverest:
when u were hailing him as if he's the president

Ritchiee:

Meanwhile,somebody is doing us proud here...
THE NEW KING OF MATHEMATICS...EMEKA ILOZOR

The Director General, National Mathematical
Centre, Abuja, Professor Adewale Solarin has
emphasized the need for student - teacher
relationship, especially in Mathematics and Science
subjects, in Nigerian primary and secondary
Schools, to eliminate phobia.
Prof. Solarin who was special guest and chairman
at the 2016 The Ultimate Mathematics Ambassador
(TUMA) competition, held in Ota, Ogun State,
stressed that the phobia experienced by students
in appreciating mathematics as a subject starts
with the teacher. He disclosed that mathematics as
a subject is very easy to understand when
students are tutored with utmost care and love. He
called on mathematics teachers to create seamless
a relationship between themselves and their
students.
In his keynote address, guest speaker, Prof.
Agbede, Head, Civil Engineering Department,
University of Ibadan, emphasized that mathematics
is a language that is part of every facet of life.
Drawing attention to vital points like thinking in
numbers, reading in numbers and working in
numbers both at home, office or in business.
Meanwhile, Emeka Ilozor, a Basic 5 pupil of Grace
Children School, Gbagada, Lagos, emerged winner
at the annual 2016 TUMA competition hosted by
the Ambassadors Schools, Ota, Ogun State. Young
Ilozor who scored 93.5 percent was overall best in
a highly contested competition featuring 349 Basic
Schools in South West region which saw 10
winners emerge with scores above 70 percent.
Ilozor was crowned the new king of Mathematics
2016 , as he received 125,000 Naira, a plaque, as
his teacher got 50,000 naira, while the school was
given a laptop, printer and textbooks.


http://www.vanguardngr.com/2016/02/maths-expert-cautions-teachers-as-2016-tuma-winner-emerges/

siraj1402:
DOLLAR = N197
Please let us explain to those that don't
understand Economic terms. Dollar has not
increased since Buhari became president
1. Dollar is not our currency so dollar should not
be our business
2. Our problem is not d government but
our problem is our importers and consumers
3. Naira has remained at 197 naira to 1 dollar
since Buhari became president
4. Buhari has promised not to devalue the Naira
and he has maintained that promise
5. Both at CBN and at interbank rates,
dollar has remained 197
6. However because we are too lazy to produce
what we use in Nigeria we import even
toothpicks and matches
7. Buhari does not like d importation of luxury
goods because luxury goods is d reason for most
corruption, that is why he banned 41 products
from having access to forex
8. However when Nigerian importers insisted on
importing those 41
products, FG asked them to find their dollar at d
BDCs parallel market also known as black
market
9. And to discourage the pressure Nigerians are
mounting on the Naira just to get dollars for
importation, CBN banned DMBs from selling
dollars to BDCs
10. To survive the pressure of excess
dollar demands, BDCs resorted to sourcing for
dollars from neighbouring countries through illicit
money laundering routes
11. Because of the risks faced by BDCs to
source for dollars, and because of the increase
in demand for dollars by importers because China
just resumed from their business holidays, BDCs
keep increasing the price at which they
exchange dollars to naira and now it is 400 Naira
to 1 dollars
12. However that does not mean
that govt has changed the exchange rate
because if our genuine importers go to CBN and
fill Form M to import raw materials for local
production, they will get dollars at 197 naira
each
13. So the problem is that we love to consume
luxury foreign products yet we are too lazy to
manufacture them here.
14. For example u will see a dull girl using
iPhone 5 without even knowing simple physics
and computer engineering part of how that
phone was produced
15. I want Buhari to ban every foreign
product from Nigeria until Nigerians learn to
produce and use Made in Nigeria products
16. Let us stop complaining about dollar as if
dollar has become Nigeria's currency
17. It is even bad enough that most of those
complaining about the high exchange rate of
dollar do not have 1 single dollar in their purse.

siraj1402:
DOLLAR = N197
[s]Please let us explain to those that don't
understand Economic terms. Dollar has not
increased since Buhari became president
1. Dollar is not our currency so dollar should not
be our business
2. Our problem is not d government but
our problem is our importers and consumers
3. Naira has remained at 197 naira to 1 dollar
since Buhari became president
4. Buhari has promised not to devalue the Naira
and he has maintained that promise
5. Both at CBN and at interbank rates,
dollar has remained 197
6. However because we are too lazy to produce
what we use in Nigeria we import even
toothpicks and matches
7. Buhari does not like d importation of luxury
goods because luxury goods is d reason for most
corruption, that is why he banned 41 products
from having access to forex
8. However when Nigerian importers insisted on
importing those 41
products, FG asked them to find their dollar at d
BDCs parallel market also known as black
market
9. And to discourage the pressure Nigerians are
mounting on the Naira just to get dollars for
importation, CBN banned DMBs from selling
dollars to BDCs
10. To survive the pressure of excess
dollar demands, BDCs resorted to sourcing for
dollars from neighbouring countries through illicit
money laundering routes
11. Because of the risks faced by BDCs to
source for dollars, and because of the increase
in demand for dollars by importers because China
just resumed from their business holidays, BDCs
keep increasing the price at which they
exchange dollars to naira and now it is 400 Naira
to 1 dollars
12. However that does not mean
that govt has changed the exchange rate
because if our genuine importers go to CBN and
fill Form M to import raw materials for local
production, they will get dollars at 197 naira
each
13. So the problem is that we love to consume
luxury foreign products yet we are too lazy to
manufacture them here.
14. For example u will see a dull girl using
iPhone 5 without even knowing simple physics
and computer engineering part of how that
phone was produced
15. I want Buhari to ban every foreign
product from Nigeria until Nigerians learn to
produce and use Made in Nigeria products
16. Let us stop complaining about dollar as if
dollar has become Nigeria's currency
17. It is even bad enough that most of those
complaining about the high exchange rate of
dollar do not have 1 single dollar in their purse.[/s]

TheSunSon:

I hailed him cos he's got nothing to do with this government,yet again ONE MAN without backup form the government has affected the Nation that has a president and "holy ministers",and have shown once more how incompetent and clueless this gov is, and all those on paper economists on NL who wrote a long litany of how his claims where ridiculous and unachievable. Now ya'all have come calling him out like he owes you or even Nigeria sh*t, Una no get shame?

ABDamola:
Please let me explain to those of us who don't
understand Economic terms
Dollar has not increased since Buhari became
president
1. Dollar is not our currency so dollar should not
be our business
2. Our problem is not d government but our
problem is our importers and consumers
3. Naira has remained at 197 naira to 1 dollar
since Buhari became president
4. Buhari has promised not to devalue the Naira
and he has maintained that promise
5. Both at CBN and at interbank rates, dollar has
remained 197
6. However because we are too lazy to produce
what we use in Nigeria we import even toothpicks
and matches
7. Buhari does not like d importation of luxury
goods because luxury goods is d reason for most
corruption, that is why he banned 41 products
from having access to forex
8. However when Nigerian importers insisted on
importing those 41 products, FG asked them to
find their dollar at d BDCs parallel market also
known as black market
9. And to discourage the pressure Nigerians are
mounting on the Naira just to get dollars for
importation, CBN banned DMBs from selling
dollars to BDCs
10. To survive the pressure of excess dollar
demands, BDCs resorted to sourcing for dollars
from neighbouring countries through illicit money
laundering routes
11. Because of the risks faced by BDCs to source
for dollars, and because of the increase in
demand for dollars by importers because China
just resumed from their business holidays, BDCs
keep increasing the price at which they exchange
dollars to naira and now it is 400 naira to 1 dollars
12. However that does not mean that govt has
changed the exchange rate because if our
genuine importers go to CBN and fill Form M to
import raw materials for local production, they
will get dollars at 197 naira each
13. So the problem is that we love to consume
luxury foreign products yet we are too lazy to
manufacture them here.
14. For example u will see a dull girl using iPhone
5 without even knowing simple physics and
computer engineering part of how that phone
was produced
15. I want Buhari to ban every foreign product
from Nigeria until Nigerians learn to produce and
use Made in Nigeria products
16. Let us stop complaining about dollar as if
dollar has become Nigeria's currency
17. It is even bad enough that most of those
complaining about the high exchange rate of
dollar do not have 1 single dollar in their purse.

Built2last:
Saudi Arabia is facing exactly what Nigeria is facing but they took a different approach to solving their illiquidity problem.

The king of Saudi handed over the economic matters of the kingdom to his brother which has the expertise in that regard. (I hope PMB will learn that.)

His brother consistuted an economic team which in turn recommended that experts be brought in from Canada to supervise the economy in this trying time. they will do this in consulting capacity. Our president and his team of junketeers will not ask the Saudi team how they are weathering the storm. I am not one of those fooled that he has gone to pray for Nigeria to be good. Thats a dumb thing to sell. Nigerias problem is not from heaven. we refused to save when we ought to, we refused to diversify when we needed to . so how exactly is it God that is doing us.

The Saudis have a team of 9 experts who operate on the model of "PERFORM OR GO" these experts meet on weekly basis with ministers and heads of various ministries. woe be tied you if you dont show up in that meeting with tangible progress report. once the team recommends you should go, the king fires without recourse to you. every one is on top of their game to perform.

since our president appointed ministers, i can only remember 7 who appears to be on the media. I dont even know most of them talk more of performance.

Why did Saudi go to Canada to get experts. Canada was the only advanced nation in the world that during the 2007/8 credit crunch stood the heat and was never affected.

nations like Germany, U.K and U.S could not understand the magic Canada did. but the man behind the magic was Mark Carny, the then governor of the bank of Canada. In 2013, England broke their own law to hire this same man who managed Canadian economy in trying time to run their national bank and made him chairman of monetary policy

Saudi has learned and gone for other retired team members of Mark Carny.

Our president must go to any mile possible to have working brains on monetary and fiscal policy.

If we dont get it right and define our path in the next four to five months, this nation is headed for a cesspit.

Prof Wole Soyinka , Funsho Philips and other observers including myself are calling on mr president to assemble his economic team before its too late. the honey moon is over. we wasted time in appointing ministers and that is why the embarrasment of the budget. permanent secretaries and directors prepared a budget of yam in the absence of ministers. the lazy ministers came and never read it. here we are.

enough of the junketing, there is work to be done. The energy exacted on begging nations to help us will do better if we channel it to work.