₦airaland Forum

samx4real:
Waiting we no go read (hear) for this country












Yesterday it was all good news,,, today una wanna start with bad news

Kekekenny:
Economist.. Where re u guys?

TPAND:
I told the zombies... They kept celebrating and calculating cost of phone prices. They lack understanding of how international trade works

Deen77:
Am not an economist, but he is wrong, is never too late to start.

Do you know why American go against any government that try to drop the dollar?. You don't expect automatic change, is gradual process.

Seun:
"Lend us a lot of dollars", said Nigeria, "so we can squander it on wasteful subsidies"
"Sure, but first you must sign this agreement to hold our currency", said China.
"No problem", said Nigeria. "We'll say it's part of our brilliant Economic plan"

Seun:
"Lend us a lot of dollars", said Nigeria, "so we can squander it on wasteful subsidies"
"Sure, but first you must sign this agreement to hold our currency", said China.
"No problem", said Nigeria. "We'll say it's part of our brilliant Economic plan"

Seun:
"Lend us a lot of dollars", said Nigeria, "so we can squander it on wasteful subsidies"
"Sure, but first you must sign this agreement to hold our currency", said China.
"No problem", said Nigeria. "We'll say it's part of our brilliant Economic plan"

dhesmond:
To my own perspective not viewing it from a myopic view, the same problem we are shying away from is what we will face sooner or later in days to come, give it two years the price of yuen will also increase in the international market, why can't we Nigerian take the pain and develop our great nation so as to strengthen our currency by trying to be independent in some crucial areas of our economy, must we run up and down just to feed our great nation, must we change currency like chameleon all in the name of good exchange rate, it's time we secure the future for our unborn children.....

989900:
We had this discussion earlier, and I posted the below some days back:



OTOH, the whole China deal (total package) with the little we know from it so far will do the below (I posted this on another link earlier):



Then you need to factor-in the Chinese inputs in power plants, railways, refineries, roads, and other infrastructure that will generally overhaul and re-ginger our economy as a whole -- tilt us on the path to a trillion dollar economy!

Reference:
Hmmm....which Seun is this. Nairaland CEO?

Seun:
"Lend us a lot of dollars", said Nigeria, "so we can squander it on wasteful subsidies"
"Sure, but first you must sign this agreement to hold our currency", said China.
"No problem", said Nigeria. "We'll say it's part of our brilliant Economic plan"

Ucheosefoh:
I stopped reading half way but my question is, does it mean that the online mini importers will now import with yuan instead of dollar from sites like Alibaba and co. I need answer

Seun:
"Lend us a lot of dollars", said Nigeria, "so we can squander it on wasteful subsidies"
"Sure, but first you must sign this agreement to hold our currency", said China.
"No problem", said Nigeria. "We'll say it's part of our brilliant Economic plan"

cr7lomo:
Without steady power supply...no sane foreign company will invest in manufacturing in Nigeria... Power generation of steady 12hrs a day will take nothing less than 20yrs because its not all bout generating megawatts, but transmitting which is a major problem

Flets:
The China deal will even widen the parallel market gap.

So I can buy 500K yuan through CBN for 15Milliona naira at 30 naira per yuan, then I convert my 500K Yuan to 77,360 dollars in Chinese FX market. Then I return to Nigeria to sell my 77,360 dollars at 315 naira per dollar and that gives me 24.4Million Naira.

Guess what, I just made 9.4Million naira profit on my 15million naira just from round tripping. The Yuan arrangement is crap for the economy but good for smart businessmen

989900:
We had this discussion earlier, and I posted the below some days back:



OTOH, the whole China deal (total package) with the little we know from it so far will do the below (I posted this on another link earlier):



Then you need to factor-in the Chinese inputs in power plants, railways, refineries, roads, and other infrastructure that will generally overhaul and re-ginger our economy as a whole -- tilt us on the path to a trillion dollar economy!