Rubbish

mumuto:



http://www.vanguardngr.com/2016/10/recession-eu-advises-nigeria-devalue-naira/

This wickedness....the one wey e dey so na wetin?...dem for just say make we make am valueless...

RIP Naira.

If devaluing our currency will bring about an improved standard of living .They should pls do it without wasting time.Nigerians are hungry

that is what they want




since time immemorial

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Devalue it to #2500naira = $1 abii

Nigeria haf enta once chance, shebi we dey laugh Mugabe kins, soon a loaf of bread would be sold for 8k..

Please I was just arrested by the VIO because of expired road worthiness and vehicle license,
They took over and drove my car to their office at Sura, Lagos Island
Presently, they have issued me a fine of N40,000.00 to pay into their First Bank Account
I have begged everyone in that office, but it seems they all have the same animal-heart
Can anyone help me with idea/suggestion of what to do?
I feel the N40,000.00 is too much and I'm just being cheated

mrvitalis:
For me I feel the cbn should free the naira Control for now.. let the naira gets its true value. . No matter the price. ...

The good thing is this the higher the exchange rate the costlier imported goods n raw materials and that means it becomes cheaper to buy and produce raw materials here... . That's just it

Free the naira to fall

d one war don fall nobi high prices dey high daily? Even garri is nw xpensive

omohayek:


If anyone is to blame for the continued fall of the Naira over the years, blame the successive governments which have insisted on printing more and more Naira without any corresponding increase in forex to back up the printing presses. Nigeria's inflation problem has nothing to do with whether or not the Naira is allowed to float, but with a lack of government budgetary discipline, and CBN governors who are too timid to counteract runaway government spending by sufficiently hiking interest rates.

Get the Nigerian government to stop printing money and you'll soon see the Naira's value stabilize indefinitely, even under a fully floating regime. The converse to this is that no government policy to "fix" the Naira's Dollar value will ever work without greater restraint in government spending: the only thing a fixed exchange rate will cause is forex shortages and riskless "round tripping" profits for a few highly-connected individuals.

Bros after work today, go to the nearest bar and take "3 bottles" of whatever it is you drink and one plate of fish peppersoup then send me the bill!!! This man here understands the Nigerian economy better than our British accent aunty!! IT IS NOT "ROCCKET SCIENCE" and you dont need years in Harvard to understand what is happening..........................

MKO4ever:
Please I was just arrested by the VIO because of expired road worthiness and vehicle license,
They took over and drove my car to their office at Sura, Lagos Island
Presently, they have issued me a fine of N40,000.00 to pay into their First Bank Account
I have begged everyone in that office, but it seems they all have the same animal-heart
Can anyone help me with idea/suggestion of what to do?
I feel the N40,000.00 is too much and I'm just being cheated

u sef get mind.. expired RW and license??...VIO no dey gree oh..keep begging them if they could half it for you..

divinehand2003:
The more the naira is devalued, the more expensive things will become in Nigeria, and the crazier our economic recession will become.
Devaluation Of our naira favours the EU, but it's a curse to our country.

But is not not devalued as at 2day when they where advised to devalue the Naira beginning of the year what was the responce

Wat is there to devalue dos the naira hv any value?

MKO4ever:
Please I was just arrested by the VIO because of expired road worthiness and vehicle license,
They took over and drove my car to their office at Sura, Lagos Island
Presently, they have issued me a fine of N40,000.00 to pay into their First Bank Account
I have begged everyone in that office, but it seems they all have the same animal-heart
Can anyone help me with idea/suggestion of what to do?
I feel the N40,000.00 is too much and I'm just being cheated

they can only half it for you..once the ticket is wriitten, you have to pay

thats jst the first part..to get your vehicle released. every day in the park is 1000
vulcanizer is 500
gate fee is 1000

then to get your key..they will ask for your tax clearence ( hope you are employed by a good organization, otherwise you will be asked to produce your tax id)

My bro..avoiding them is better than the stress they will put you through

you can google vio directory and get their head number( Engr Toriola), plead with him and might be able to help you get it reduced

The only thing that wiuld stop the Naira from hitting N2000 to $1 in the next 2 years is the possibility of Dangote's refinery which will come on board in a few years and reduce forex demand for petroleum products. However N1000 - N1300 to $1 is almost a certainty in the interim.

As far as the Eu, world bank, Imf and all those armchair economists, only countries who make things or have products to export and forex income benefit from devaluation. Nigeria has no infrastructure, it's industry is uncompetitive so it will always struggle to export anything competitively to the world. When we have developed large industries and have products to sell to the world then we can devalue otherwise all we do is induce inflation, we've been there before under SAP, all the drawbacks without the benefits.like I said you will not get any benefits from devaluation if you have no industries and nothing to export. When I say nothing to export, I don't mean small scale exports, selling ugwu to Nigerians in Peckham.

mumuto:



http://www.vanguardngr.com/2016/10/recession-eu-advises-nigeria-devalue-naira/

Thunder fire you there. Which value dy again. When cedis don cover naira finish

To devalue the naira again? Please all these fake Nigerian allies must stop these crazi-man suggestion.

During the economic crisis of 2008, why was it that this EU didn`t devalue the Euro in order to make them more competitive. quantitative easing was good then but not good for us now? Too many evil forces around!

So this floating Uncle Emefiele introduced never devalue enough eh? Make Thunder fire them EU

mumuto:



http://www.vanguardngr.com/2016/10/recession-eu-advises-nigeria-devalue-naira/

Wondering why we don't just adopt the US dollar? I am not an economist but would love for someone to explain why this is not a viable option.

Keneking:
It must hit N1,000 /$

...$1 must reach #15,000 before May 29th, 2018...

That's was how they killed the economy of Greece, stoopid people. As if we've not had enough of this devaluation. naira is now 470 + to a dollar what else do they want?
Mtchewwwwwwwww

EU and IMF and babaginda should go and die

eph12:

I have ideas. I have friends that have ideas but it's easier for camel to pass through the hole of a needle than for people to get funds for their business and ideas. Marketing, creating awareness is very important for businesses but not cheap to do. This is where government can come in. If the business is doing fine won't we pay tax happily?

.
They don't want to collect tax, they want to do the business on their own so they will have enough to loot . that is why they won't restructure.

mrvitalis:
For me I feel the cbn should free the naira Control for now.. let the naira gets its true value. . No matter the price. ...

The good thing is this the higher the exchange rate the costlier imported goods n raw materials and that means it becomes cheaper to buy and produce raw materials here... . That's just it

Free the naira to fall

Are you sure it will be cheap to buy things here when the naira free falls and importation stops? When there are is no competition, market forces always pushes prize in the north direction.

mrvitalis:

No that's were the banks.. churches and the rest should come in not government... This is a capitalist country remember

Mind u I face similar problem

That's how you guys mislead people ,why absolve government of their responsibility and place it where it does not belong,what's church got to do with this, the economy is the business of the government, they have responsibility for policies that will ease access to capital, low interest rates, policies that will improve capacity utilization, strive towards full employment while curtailing inflation. not collecting taxes alone and selling national assets

Machines to produce will also get more costlier and more risky, with most people opting to smuggle in finished goods. Not sure that devaluation will be good for us.

mrvitalis:
For me I feel the cbn should free the naira Control for now.. let the naira gets its true value. . No matter the price. ...

The good thing is this the higher the exchange rate the costlier imported goods n raw materials and that means it becomes cheaper to buy and produce raw materials here... . That's just it

Free the naira to fall

This is devil at work ooo...Devalue again?I think Nigeria z about going beyond her elastic limits....I believe my amiable and brilliant president will resist this temptation....Till then I reserve my next comment...

sarrki:
We have a lot of economic analyst online


Proffer a solution Not castigating and insulting


I rest my case

U want solution? One and only solution is to restructure, government does not have any business in business. There business should be proper taxing only. Did u listen to tramp and Clinton debate, did u hear them talk about managing their countries oil industry or energy e t c. All they talked was proper taxing of people and companies. Make the ground safe for businesses to grow, remove UR hands complete from business and tax right, the higher u earn d higher tax u pay. Manage our present limited earning well and stop borrowing. Cut UR coat according to UR earning, if u can't afford a driver, don't employ a driver, drive UR self and if u don't know how to drive, learn how to drive

This is what happen when Nigerians are lazy and deft and blockheaded to embrace agriculture. This is what happen when Nigeria is looking for free and fast money and fails to encourage home spun agriculture. If this devaluation of the Naira ever takes flight, surely millions of Nigerians will suffer. a bag of garri will become #50,000 naira. there will be commodity without money to buy and Nigeria will be far poorer than Niger, Chad, Ivory Coast, Cameroon, Zimbabwe, Ghana and Benin Republic. For those of u who continue to bank your life on your white collar job, Agriculture is the only way forward if you don't want to end up been slave in your own country. These people calling for Naira devaluation are all thieves parading themselves as economist go and check there pedigree and appointment portfolio, everything they lay their hands on either drys up or turns to blood and every land they step in becomes deserts and more of a poverty stricken land. Nigeria has every reason to ban total importation and start afresh proper home grown and self sustaining economy. we cannot afford to continue to be at the mercy of the develop world a taking responsibility for the financial mistakes and recession caused and made by these developed Nations of the world today. We have every reason to patronise only China, Russia, Japan and India right now we are all going down together as lots of this people envy the Nigerian Economy and are ready to Suck Nigeria dry. devaluation of d Naira will definitely put Nigeria fuel pump price at #500 naira per liter. Who ever you are or whatever your discipline, embracing home spun industrialization and agriculture is the only way out to producing a self sustaining Nigeria and wealth. The Nigerian government is doing her best, we must equally also play our own role

ok

Bari22:
How many times they want us to devalue naira? May be some years to come five thousand will not buy a loaf of bread.

Sadly, our economy is at its weakest in a whole generation. Wack economic policies have caused a recession. When we should be having at least 6 to 7% annual growth, and even aiming for a double digit growth medium term.

Anti-corruption fight and all are cool, but a poor nation like ours needs a steady & sustained growth. Anything else will set us many years back and create many social problems.
Even with low oil prices, a rate of 4% would still be expected with proper economic policies.

While Buhari likes to blame his predecessors, at this rate, his successors will have even far more reasons to blame him for an even bigger mess he will leave behind.

Sadly 1$ to around 750 Naira is a more realistic rate.