₦airaland Forum

I anticipate the Naira to hubble blindly between 350 and record lows of 500, for the rest of the year (in the least).

Jobabori:
You people should please consider those of us doing annual 'adache' 'ajo' or contribution. Why is it that this economic jagajaga usually erupt whenever It is my turn to collect? Naira usually nose- dive with government policy when it is my turn. I am not an economist but remember lay men also have project to finance. It seems the exchange rate policies usually target the time of my collection of annual contribution.This is how this economic hullabaloo affects me. It is unfair.

This got me Rolling on the floor... ehehehehe Pele.

Mylove55:
we have dance to d tune of imf, why wont them applaud it,

Abi o. Govt is keenly receiving and savouring kudos and praise from them now. IBB got same and we all know how it all ended.

We have again shown that we cannot implement good policies by ourselves. IMF must direct us and hold our hands like blind people. I hope zombies won't be shouting imperialist conspiracy months and years from now.

houstonia:
Very soon in this country we would start to commend the key players in the different sectors. Everyone must show competence. No more God bless Buhari, Buhari has don this or that. Let these ministers and governors take up the challenge. Because the overall boss has no educational qualification.

You are an utter slowpoke. Education does not give power where great men stand. "Beneath the rule of men entirely great, (only then) the pen is mightier than the sword). Can you talk to Ronaldo, Messi, WiZkid, 2face, Jay Z and our very own Mercy Johnson and Ini Edo? All men have limitation. Grow up and start talking sense.

uboma:
I have quoted you for reference purpose.

You will be greatly disappointed though....

And I have qouted for reference sake... he won't be that disappointed!

TooNoisy:
Let's stop applauding the Government like they did something extraordinary. They should have done this last year and they are doing it quite late in the day. The naira should have been allowed to float 9 months ago. Besides they had no option than to do this. CBN does not have the dollars to support 197.

Applauding the government is like Applauding Jonathan for handing over. The CBN had no choice please. We have few dollars.

Do you know the meaning of forecast? It is allowed to take surveys, Which in this case failed us.

The aftermath of this devaluation will soon, take the effect and return our economic to the worst

Febcom:
The aftermath of this devaluation will soon, take the effect and return our economic to the worst

I disagree, i think, it will help the economy rebound....

Since Buhari left Nigeria for treatment, the economy has shown slight positive sign of improvements.

My only worry right now is that he will return tomorrow to continue from where he stopped.

assetman:
while commending CBN for this new open market policy,I also. want to remind them that for the naira to appreciate better there is need for government to enact the necessary policy that will help us to diversify our economy,protect indigenous company,so that we can produce more and import less......thereby the naira will gain strenght

Gbammmm!!! We keep blabbing about this issue every now & then! Selfish intentions have killed Nigeria!!! We all know our problems, & how to go about solving them...but, no! somebody will always want the "status quo" maintained!

Diversification & more export is the permanent answer! Will anyone die if we satisfy our demand for products of crude oil, & join exporters of diesel, petrol, etc? What about bitumen, cement, bauxite, etc? What about exporting food (fish, beef, pork, rice, etc)? What about tomato & pepper paste? Vegetables & spices? & herbal drugs? Kaii, why r we so consumer-conscious, yet we don"t have enough money anymore? We spend humongous amounts lodging in hotels, eating, drinking, making calls, flying, buying expensive things & making trouble? When will we start implementing real solutions to our problems? I can go on & on & on!! SMH for Nigeria oo

houstonia:
Very soon in this country we would start to commend the key players in the different sectors. Everyone must show competence. No more God bless Buhari, Buhari has don this or that. Let these ministers and governors take up the challenge. Because the overall boss has no educational qualification.

What is educational qualification ?
Education.must have been very difficult for you.
Bill Gates, Larry Ellison, Steve Jobs also don't have qualifications but they are more educated than.most PhDs
This is STUPID. THE overall boss has all the qualification for leadership. He has actually been Head of State when your parents were growing up and Nigeria was far far more sophisticated than now .
He was Petroleum Minister when he and NNPC chief would give a press conference with clear facts and figures of oil sales, reserves addition and ten year projection of petrol and diesel demand in all states.

In Nigeria now , the inferior mentality has taken.over that is why you cannot research your past and find out where we went wrong.

tulipsmadra:
IMF should leave us alone, why are they monitoring like we are their financial lab rats. We want investors not commentators.

Their comments will boost investors' confidence, especially from credit rating bodies, which in turn will translate to more FDI and of course capital importation.

The decision to peg the naira in the first is absurd. Currency peg allows nations to keep inflation and export prices stable, but what do we export apart from crude oil.. Truth is the government need to roll up there sleeves and change this sluggish approach to economic management.

For all the people crediting Buhari - is he even in the country? Did he not extend his 'holiday'?

Adminisher:
What is educational qualification ?
Education.must have been very difficult for you.
Bill Gates, Larry Ellison, Steve Jobs also don't have qualifications but they are more educated than.most PhDs
This is STUPID. THE overall boss has all the qualification for leadership. He has actually been Head of State when your parents were growing up and Nigeria was far far more sophisticated than now .
He was Petroleum Minister when he and NNPC chief would give a press conference with clear facts and figures of oil sales, reserves addition and ten year projection of petrol and diesel demand in all states.

In Nigeria now , the inferior mentality has taken.over that is why you cannot research your past and find out where we went wrong.

So in your mind Buhari is in the class of the likes of Bill Gates,Larry Edison, and Facebook founder Mark. These are people who are products of hardworking,genius,fairness,integrity and equity.
Guy wake up from your illusion. All Buhari has ever achieved were by appointment, and it was even by coup he came to power.
There is no basis for your comparison.

TooNoisy:
Let's stop applauding the Government like they did something extraordinary. They should have done this last year and they are doing it quite late in the day. The naira should have been allowed to float 9 months ago. Besides they had no option than to do this. CBN does not have the dollars to support 197.

Applauding the government is like Applauding Jonathan for handing over. The CBN had no choice please. We have few dollars.

is it a crime for the naira to equal the dollar. Nigeria should switch to the use of dollar. Naira is dead

This is one of the reason we urge Buhari to stay put in London.

We so urge you sir.

houstonia:
Very soon in this country we would start to commend the key players in the different sectors. Everyone must show competence. No more God bless Buhari, Buhari has don this or that. Let these ministers and governors take up the challenge. Because the overall boss has no educational qualification.

His certificate from the US ARMY COLLEGE is by far more valuable than the masters degree of your school!

Sorry to say!

mmsen:
For all the people crediting Buhari - is he even in the country? Did he not extend his 'holiday'?

amtaken:
This is one of the reason we urge Buhari to stay put in London.

We so urge you sir.

Nothing happens in Nigeria without Buhari's permission even if he spends the rest of his tenure in London.

The flexible forex regime has been on the cards since the budget was passed.

Wtf, Did you guys read that part where CBN would stabilize naira from their pocket after it get devaluated by the dollar when the free market officially begins.

That shi t is funny.

For how long will CBN keep up with this.

Sorry we headed to inflation and swift slipping into recession which will gladly take us into the arms of the IMF, that's why they applauded CBN. We don finish for this country.

My People there is no special miracle to currency appreciation, a currency will appreciates when the people are fruitful, industrious and productive. Our forefathers exported palm oil for years and we the children have been exporting crude oil for years too without adding any value.
Lets all wake up and do what is right before the Father.

aaronson:
Wtf, Did you guys read that part where CBN would stabilize naira from their pocket after it get devaluated by the dollar when the free market officially begins.

That shi t is funny.

For how long will CBN keep up with this.

Sorry we headed to inflation and swift slipping into recession which will gladly take us into the arms of the IMF, that's why they applauded CBN. We don finish for this country.

There is no where, that is mentioned.

feldido:
All i want is for the Naira to appreciate, my business de suffer from high cost and lack of Forex to import necessary equipments and consumables.

use the money u were using to import consumable and start producing here in this country so that u can take few people out of the labour market that's simply what the current administration wants.

tbaba1234:
Nothing happens in Nigeria without Buhari's permission even if he spends the rest of his tenure in London.

The flexible forex regime has been on the cards since the budget was passed.

The same man who said that he didn't believe in devaluation. Now you're here lying that it was his plan all along.

"The Central Bank of Nigeria, last year imposed tight capital controls and pegged the naira at an official rate currently 35 per cent stronger than the black market rate, and the president has repeatedly asserted, that he would not endorse official devaluing of the naira."
http://thenationonlineng.net/buhari-rejects-naira-devaluation-2/

omenka:
When things go bad, Baba gets the blame, when things turn out for the better, anyone but Baba gets the credit.

Well, what can we say- it is a fundamental human right for people to be excessively idiotic.

how much have the big grammars fetched you??.clueless zombie!!

How much have big grammars fetched you @omenka the clueless zombie??

Wasted 16 months, billions lost. Nigeria always getting the broad side either by corruption or ineptitude. It was so easy to see even for a wife searching bachelor that if you have no job you must first bury your ego. You cannot dictate or legislate away hardship when you produce next to nothing.

mmsen:
The same man who said that he didn't believe in devaluation. Now you're here lying that it was his plan all along.

"The Central Bank of Nigeria, last year imposed tight capital controls and pegged the naira at an official rate currently 35 per cent stronger than the black market rate, and the president has repeatedly asserted, that he would not endorse official devaluing of the naira."
http://thenationonlineng.net/buhari-rejects-naira-devaluation-2/

How is my comment related to your response?

The government has obviously had a change of heart but nothing in government happens without presidential approval. Listen to Osinbajo speech at the Platform.

Mylove55:
i dont know where u ipod came from, when things were bad, u blame pmb, it was dis same Godwin with phd that cause d own problem, but u flat head ipod insult pmb for cbn failure, God bless pmb for bearing all d insult cause by cbn

You are completely wrong. PMB admitted he fixed the rate of the naira to the dollar at 197 immediately he assumed power and went further on to ban 41 products from the CBN.

PMB took over the CBN which is supposedly independent.

Soludo, Sanusi and Utomi all condemned Buhari statist policies. Straight talking Sanusi said these policies have not worked anywhere in the world.

Didnt you hear Buhari say severally he did not see the need to devalue the currency? It was that policy that wrecked the economy.

Buhari's integrity is impeccable but his economics is lamentable

Mylove55:
i dont know where u ipod came from, when things were bad, u blame pmb, it was dis same Godwin with phd that cause d own problem, but u flat head ipod insult pmb for cbn failure, God bless pmb for bearing all d insult cause by cbn

don't mind those donkeys.