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Nairaland Forum / Nairaland / General / Politics / Why Does Naira Appreciate Whenever Buhari Travels? (38892 Views)
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Re: Why Does Naira Appreciate Whenever Buhari Travels? by Nobody: 11:23am On May 20, 2017 |
LordAdam16: I agree we have a bad fiscal policy. I agree that Buhari got his cabinet late and I also stand with you on the idea that Okonjo Iweala so far so good has perform better compare to our present economy team. Although, we had a flourishing economy then. I beg to disagree on the idea that spending has not been cut off. Buhari cutoff spending on MDA when he reduced the number of ministry in the country to almost half, do you think this won't have effect on the masses. It may look as a good plan to curb excess expenses but was the benefit to the common man. Your point on increased spending is based on the opinion that the budget will be financed through debt, you are surely right on this. Let me tell you something, you are praising Saudi - Arabia that they have a good investment reserve but you fail to condemned Buhari on his policy. Do you think Financing a country Budget through debt have a good effect on the nation reserve. Our VP believes in facing the negative effect of reduced reserves in the short run, but PMB is postponing the ' evil days' that may happen soon if we fail to pay our debt. Do you think budget deficit increases the reserve of a country in the long run? If these project that are financed through debt fail to generate revenue you will see the effect on our reserve. Nevertheless, I respect PMB for his long goal objective of the nation, but the problem is that the current adverse effect of these policies are too much to bear. If there can be any palliative for the common man to cling on before the actualization of these objectives, the better for the nation. LordAdam16, thank you for your time, I sincerely believe I am done on this issue. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by ACE1010: 11:26am On May 20, 2017 |
walexy100: Maybe the naira does not need him!!! 1 Like |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by praise1705(f): 11:27am On May 20, 2017 |
Bobby808: which kind quote be dis? you nor get brain? please read on and see the sarcasm in the sentence. given as received |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Tecno66: 11:30am On May 20, 2017 |
walexy100:Simple answer, body language. When the Prof mounts the saddle, the effort they will spend to convince him on why things are not working are better spent making the things work because he is smarter than them. It is easier for them to manipulate an elderly grand pa. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Tecno66: 11:40am On May 20, 2017 |
Dont mind him. When professionals are making comments school cert holder too go dey chuk mouth, so waiting you expect? kelvinreality: |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by LordAdam16: 11:42am On May 20, 2017 |
kelvinreality: A country in Nigeria's present financial standing needs to take debt. My only issue is that I have ZERO confidence in the people that have to utilize the borrowed money. That is the #1 reason why I oppose taking debt, because I know it would be squandered. The nation's reserve has a very different use from money used for budget. Let me use a business to give you an example. Apple the world's largest company by valuation has approx $100b in debts. Yet they have $200b+ in cash reserves. Do you think they are senseless? When investors look at a country, the state of the reserves has more prominence than the size of the deficit as long as the debt-to-gdp levels is still within acceptable limits. Nigeria's DTG level is healthy courtesy of OBJ/NOI's debt clearing, good fortunes under GEJ and the fiscal discipline under GEJ as he did not borrow excessively even though there were plenty of reasons to do so. Maybe you are not understanding me, why should I praise Saudi Arabia for having strong reserves and condemn Buhari for doing the same thing? It doesn't make sense. What Osinbajo is doing is reckless because Nigeria is not even out of the clear yet. When GEJ was spending frivolously to maintain the naira rate, oil price was between $70 and $110 pb and the industry was stable. Now, the average is $50 pb and there are still fears that the industry make enter another downturn. Nigeria is a resilient economy, so it makes better sense to hold our oars until the sky clears than spend scarce dollars recklessly. As for you saying Osinbajo is facing the dangers of it in the short term... He is not facing any dangers yet, when dangers face him he would run under the pulpit. The money he is spending is down to sheer discipline of Emefiele/Buhari saving since December and decent oil earnings since February. It didn't stop him from getting more debt in Buhari's absence. The midget is just spending left and right. Both our reserves and accumulating more debt. If he continues, both in the short term and the long term, we are royally F*CKED. Let me make it simple for you... GEJ: spend reserves, do not accumulate large debt, oil was stable PMB: accumulate reserves, accumulate large debt, oil not stable Osinbajo: spend reserves, accumulate large debt, oil not stable... Of these three, who is the most reckless? -Lord |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Nobody: 11:43am On May 20, 2017 |
Chai so una notice am too! I think say na only me dey see am so o.. Lolz, well it's good for we online marketers, more dollars more money especially when the exchange rate is high |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Tecno66: 11:53am On May 20, 2017 |
walexy100:Reason is simple. The north wanted power by all means and didnt have an economic blue print. Tinubu, Osinbajo and co had one but their northern acomplices were scared to use it because they were afraid it would affect their northern agenda. That is why they put PYO as coordinator. Each time Buhari transfers power, PYO will now begin to apply their own blueprint. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Nobody: 11:59am On May 20, 2017 |
Brinxs:yes nah. It almost touched N400 |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by bejeria101(m): 12:00pm On May 20, 2017 |
Body odour! |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Brinxs(m): 12:08pm On May 20, 2017 |
walexy100: Yeah...tz prolly a coincidence tho. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Charly68: 12:24pm On May 20, 2017 |
Ask us again when Buhari returns |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by oblaak(m): 12:32pm On May 20, 2017 |
obyrich:Except you don't know how to point, one can point all the fingers at once |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Water101(f): 1:03pm On May 20, 2017 |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Splashme: 1:16pm On May 20, 2017 |
Nbote: |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by obyrich(m): 1:20pm On May 20, 2017 |
oblaak:Do you point at people with your thumb? |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Blue3k(m): 1:53pm On May 20, 2017 |
Water101: Get on YouTube app or website. Upload your content from your phone. Find where you saved video then wait for it to process. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by springtech(m): 5:32pm On May 20, 2017 |
True something. I make money legally, I smile home daily. Its called wise work. Yes I believe in hardwork. But now I believe more in smart work. To know more check my signature. My Target: To make 20M on or before December 2017. So help me God. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by CAMNEWTON4PRES: 5:44pm On May 20, 2017 |
LordAdam16:While your comment makes sense economically speaking, it lacks sense politically speaking as there is no way Osibanjo would pump dollars without Buhari knowledge or approval. Osi is not doing anything behind his back nor trying to get clout |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by oblaak(m): 6:47pm On May 20, 2017 |
obyrich:You need to go to school of 'pointing fingers'. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by akaahs(m): 7:23pm On May 20, 2017 |
Investors re not mumu like most nigerians, they used ur past/track record to predict d future economic. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by effido666: 7:52pm On May 20, 2017 |
walexy100:he just av bad luck |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by obyrich(m): 8:36pm On May 20, 2017 |
oblaak:OK Sir. I hope it won't entail joining APC? |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by LordAdam16: 9:47pm On May 20, 2017 |
CAMNEWTON4PRES: So, in your mind, Osinbajo would ask Buhari how much dollars needed to pumped and would only pump the amount of dollars Buhari allows him to pump. I'm not saying Osinbajo does anything without Buhari's knowledge or approval. I'm saying, when he gets the go-ahead, he spends recklessly. Note the difference. And your opinion about Osi not trying to get clout is out of myopia. Really? So, Osi just visited the MMIA the last time Buhari left and sacked all the Directors of an Aviation agency simply for the fun of it? Or he was working from dawn to dusk then to prove his competence to Buhari? All of these men are ambitious. And there's nothing wrong in that. I'm simply livid at the way they're going about it. Demonizing Buhari to praise Osinbajo. That is all shades of wrong. -Lord |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by obyrich(m): 10:06pm On May 20, 2017 |
oblaak:Ok Sir. All Pointers' Club (APC) here I come. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Olifiz(m): 1:01am On May 21, 2017 |
Buharis wife Aisha runs the biggest bureau de change in Nigeria. So dollar must be very high n naira low else money no go enter. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Nobody: 1:13am On May 21, 2017 |
Everyone know I am not a fan of Buhari but this is mere coincidence Both times when he travelled oil prices rose due to activities outside the shores of Nigeria 1st time was due to OPEC agreement on supply cut Second is due to trump had a bad week which affected the price of dollar. When dollar falls oil rises, when oil rises naira appreciates |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by oblaak(m): 12:54pm On May 21, 2017 |
obyrich:Count me out as e don enter APC abeg
|
Re: Why Does Naira Appreciate Whenever Buhari Travels? by Bobby808: 1:46pm On May 21, 2017 |
praise1705:He be like say this one na human photocopying machine. |
Re: Why Does Naira Appreciate Whenever Buhari Travels? by snipesdam(m): 1:46pm On May 21, 2017 |
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