₦airaland Forum

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

49cents:
The Naira was over-valued since oil became Nigeria's main stay and that discouraged diversification and industrialisation whilw promoting importation of everything due to cheap petrodollars

As it stands now, the smartest thing to reverse that trend is to further mark up the dollar to N400 and give tax paillaitives to companies, social buffers to Nigerians in terms of mass transport, housing schemes, food availability and quality education etc

In about 6 years Nigeria will find its self in a superb state

Donbigi2:
I just bought rice for 100naira a cup with the same salary I used to buy it for 40naira so tell me how it's not my problem

alt3r3g0:
We all knew that devaluation while you import everything is counter productive. Why the outrage?

FagsamPHP:
This idiot of a president remains a Certificaless Dullard!!!!! buhari the dullard

ehimeayeni:
This is a good suggestion but do Nigerians want to wait for another 6years. Only 1year has gone people are shouting that there is suffering. What Willa they shout if the dollar is increased to N400?

kobonaire:
The gains of floating your currency are not seen overnight. It should take a couple of months for the effects to be noticed.

49cents:
What's this fixation with low exchange rates? Is it so that you can buy iPhone for N10000?

Until importation is discouraged by devaluation, no fixed rate of dollar will stand over time...

Nigeria doesn't have an economy yet, if we don't deliberately fast now, we shall be forced to fast later by reality.

Now miss smartypants what is your solution cos your response didn't even suggest one

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

Reference:
What devaluation is set to do is to force political decisions, decisions the owners of this country wish to avoid. It will force the lazy, lethargic man off his bed to his farm. Crude oil has failed. Instead of looking for a new rock to crawl under and hide, let Buhari restructure Nigeria now and put every part of this country to work.

brunofarad:
Bubu at it again

hinwazaka:
MR President, you are right, you are not an economist, so please SHUTUP. You know nothing. For starters, were is your certificate, what was your grade in Economics. Don't talk about things you know nothing of.

bot101:
Bros, dat avatar wey dey ur signature Don tire to dey bang im head for Dat wall. Please have mercy, I don dey pity for am.

49cents:
The Naira was over-valued since oil became Nigeria's main stay and that discouraged diversification and industrialisation whilw promoting importation of everything due to cheap petrodollars

As it stands now, the smartest thing to reverse that trend is to further mark up the dollar to N400 and give tax paillaitives to companies, social buffers to Nigerians in terms of mass transport, housing schemes, food availability and quality education etc

In about 6 years Nigeria will find its self in a superb state

brunofarad:
Lol

49cents:
Power is a factor but you have to deal with importation as it is! Power will take as long as 5-7 years to get fixed that is with a serious government.

The only way to encourage local production and making their prices competitive is buying devaluation.

@ cornelin this person and forex talk. Mtchew. Ur views really shallow. Don't u realise dat Power is of major importance. It's because of this dat cost of production is high...

JoSaintiago:
pls stop dat rubbish of urs which nigerians ar lazy?u nd buhari need to be flogged and cast into ,,,,..bottomless pit evry day nigerians ar lazy,corrupt,criminal do u know when i started my hustle.just spewing trash in name of comment. El dullarden is a failed,deaf n corrupt(false certificate),criminal(treason) bigot(attack on boko)

Reference:
Mr. Man. Nigeria's primary problem is not what she imports, but what she produces. The US is the biggest market for most things in the world from crude oil to pornography, but they produce almost everything as well and dominate a few like high tech and entertainment. Japan on the other hand is a huge producer but very poor importer of foreign goods so they have this unending economic problem, numerous recessions, stagnant for decades, China has overtàken. You can isolate your economy by being productive. That is why when recession looms in the US, they stimulate CONSUMPTION, not savings like Japan, because they know consumption will lead to production, jobs, etc. What government in Nigeria and most of you are saying is that since we cannot work we should not eat. Is this not madness. Yes, it is right in theory but the result is death from starvation. WHY NOT PUT PEOPLE TO WORK. But how will you do that when you insist on a system where jobs are not created but handed out, wealth is not created but shared by monthly allocation. What is the incentive to work when you know your salary comes through every month guaranteed.

Nigeria is not the only country with oil, with states, with a diverse population of dissimilar races and religions. Why don't we want to work. That is the answer. You can NEVER prosper without work and this country's structure can never put Nigerians to work. Stop blaming devaluation. The alternative is death and since 1984 (and before he was in power), Nigeria's economy has been dying. No successive governmental era has been better. Can't you people see it. Haba.

Keneking:
Simply redecimalise the currency and you get 3.5Naira to 1 USD.

quickly:
Rice production is a good start



Nigeria need to create a tourism industry to the standard of south africa and kenya. We should have the best game reseve in africa.

That would make them build world class hotels , world class transportation.

This western countires are always looking for somewhere to spend vacation.

49cents:
The Naira was over-valued since oil became Nigeria's main stay and that discouraged diversification and industrialisation whilw promoting importation of everything due to cheap petrodollars

As it stands now, the smartest thing to reverse that trend is to further mark up the dollar to N400 and give tax paillaitives to companies, social buffers to Nigerians in terms of mass transport, housing schemes, food availability and quality education etc

In about 6 years Nigeria will find its self in a superb state

49cents:
Power is a factor but you have to deal with importation as it is! Power will take as long as 5-7 years to get fixed that is with a serious government.

The only way to encourage local production and making their prices competitive is buying devaluation.

@ cornelin

How will government encourage the local manufacturers if importation is still cheaper than local production owing to availability of cheap forex?

quickly:
Rice production is a good start



Nigeria need to create a tourism industry to the standard of south africa and kenya. We should have the best game reseve in africa.

That would make them build world class hotels , world class transportation.

This western countires are always looking for somewhere to spend vacation.

FagsamPHP:
This idiot of a president remains a Certificaless Dullard!!!!! buhari the dullard