daviesblaze:
NONSENSE china tends to benefit more than nigerians in this deal. i dont understand how our government officials could be this gullable

TheGoodJoe:


Can you propose a better solution to deal with the scarcity of Forex for business people in the country?

ideology:


My bro forex scarcity is artificial leave that matter

Buhari' relatives are making billions from this artificial forex scarcity


Me wan swap citizenship?

Abeg you sabi road

TheGoodJoe:


Funniest response ever. Simple principle of demand and supply already shows Forex is not available. That is why the central bank spends a lot of money to flood the market with dollars to prevent the price from running high.

gerona:
Whilst the rest of the world is stimulating internal growth and boosting the manufacturing sector to trigger a sustainable development of her economy, the Nigerian government is busy with currency swap deal that will further make the Nigerian industries less competitive. When a country is ruled by selfish and visionless leaders! I weep for my motherland.
America recording 4% unemployment rate, Nigeria government celebrating currency swap to further impoverish her citizens whilst empowering the Chinese economy. I need another citizenship please.

TheGoodJoe:



Egypt has been going through a strict three-year economic reform program since late 2016, starting with local currency floatation to contain dollar shortage followed by austerity measures, energy subsidy cuts and tax increases.

http://www.xinhuanet.com/english/2018-05/03/c_137154026.htm

I guess President Buhari's relatives caused artificial forex scarcity in Egypt.

gerona:
Whilst the rest of the world is stimulating internal growth and boosting the manufacturing sector to trigger a sustainable development of her economy, the Nigerian government is busy with currency swap deal that will further make the Nigerian industries less competitive. When a country is ruled by selfish and visionless leaders! I weep for my motherland.
America recording 4% unemployment rate, Nigeria government celebrating currency swap to further impoverish her citizens whilst empowering the Chinese economy. I need another citizenship please.

CriticMaestro:
No be only currency make we follow exchange our president

ideology:


Nigeria is not Egypt stop comparing Nigeria with any country.

Na only God fit explain when de do Nigerians

ideology:
rewind back to 2016 when the same CBN was withholding Fx abi where they practising trial and error when they fixed different exchange rates.

Guy look deeper Nigeria's scarcity is artificial

teepain:


But entrepreneurs can seize the opportunity to import capital goods like machineries and other stuffs to boost local production.

naijacentric:
Will it make the naira strong?

martineverest:
best policy so far

all thanks to trump.... Obama frustrated us

TheGoodJoe:


It has the potential due to our reduced dependence on dollars for large volume of trade with China.

TheGoodJoe:


Nigeria agrees currency swap with China to shore up naira, help fund deficit April, 2016
https://af.reuters.com/article/investingNews/idAFKCN0X924I

This was done in April, 2016, long before Trump became President. This is just a continuation of the process.

naijacentric:
Will it make the naira strong?

daviesblaze:
NONSENSE china tends to benefit more than nigerians in this deal. i dont understand how our government officials could be this gullable

martineverest:
but was delayed and cancelled until yesterday

martineverest:
yes o...as most imported goods are from china

Primusinterpares:
While it might facilitate efficient international trade with China, it still doesn't change the fact that Nigeria have very little to sell or offer to China , thereby increasing the imports from China and making China govt richer.

My take to Nigeria govt...

Fix and modernize the industries in Nigeria.
my2kobo

veekid:
I'm a lazy youth; summary plz

TheGoodJoe:


A journey of a Thousand miles begins with one step. The current process has the potential of boosting exportation of raw Materials and later some Chinese companies can start their branches here to reduce cost of production.

We can not swap our fingers and expect to have a low unemployment rate.

CSTR1003:
Looks good on paper.

Theoretically, the dollar demand should drop since we will be importing directly in the currency of the host country which has been swapped with our own naira.

And China constitute over 30% of our imports so this is massive.

I hope this is available to the general public most notably igbo importers so that basic commodities like phones and laptops and other electronics e.t.c can become less expensive.

I'm also hope the FG is smart enough to maximise this at every stage because the Chinese will be looking for the better end of the deal.

daviesblaze:
NONSENSE china tends to benefit more than nigerians in this deal. i dont understand how our government officials could be this gullable

ideology:


My bro forex scarcity is artificial leave that matter

Buhari' relatives are making billions from this artificial forex scarcity