₦airaland Forum

jaxxy:
Do we even have a road map to reducing dependence on imported items? We just talking as usual no definite plan. We need to export more or be more self sufficient.

There is no economic plan... A country with no economica plan is going Nowhere.

jaxxy:
Do we even have a road map to reducing dependence on imported items? We just talking as usual no definite plan. We need to export more or be more self sufficient.

There is no economic plan... A country with no economic plan is going Nowhere.

UncleJudax:
Nigeria? There is no plan for anything.

eddiebruk:
If CBN is ready to fight this, they should increase the Card use limit internationally, Most people overseas who wants to make use of their funds in their Nigeria banks abroad have to rely on the Nigerian black market abroad to get foreign currency instead of just using their ATM to draw cash like every other countries. We are not the most corrupt and I see no reason why one should not be allowed to spend what they have in their bank account irrespective of where they live until they are found wanting for a crime. We cannot all bear the burden of a few miscreants just because we have a president who thinks we are luxurious in spending. All these inflation talk will die a natural death if CBN removes the complete restriction on using your card abroad and allow Disaporans access their funds abroad.

gnykelly:
No country on earth float their currency.

wirinet:
Float currency ke, when we import over 80% of our consumables, including fuel. That would have disastrous socioeconomic consequences.

Before the government can attempt to float the naira, we muse stop the importation of the following items;
1. Fuel - petrol, diesel, kerosene and aviation fuel.
2. Rice
3. Chicken and other poultry products
4. Steel.
5. Bitumen.
6. Fish

Pesuzok:
This your talk is being selfish. Get your dollar card, fund the dollar account with your $1m, and withdraw as you like. You cannot have naira in your account and want to withdraw dollar anyhow

wirinet:
It almost did.
Floating your national currency was the main fulcrum the IMF condition of SAP, which IBB tried to implement. It failed woefully.
IBB Babangida met the exchange rate at one Naira to a Dollar in 1984, after SAP induced devaluation, he left it at N22 to the dollar. That's a 2100% increase over a period of about 6 year. Was the economy any better off? No, it was far worse.

AudiA4:
And how has this brought down prices of goods,instead of prices of items coming down,they keep going up with all the exchange rate stability ,we play to the gallery in this country all we do is talk,talks,write all the theories that exist in the world yet things keep getting worse, until we are ready to take practical step, by shutting our doors to importation and bring manufacturing back to life,declare state of emergency on power,stop importation of fuel and fix our refineries, this country will never experience and meaningful process,we know the right things to do,but because we are highly corrupt and blinded by it,we expect God to come down from HEAVEN and fix Nigeria, what a joke of a country

pussyAvenger:
The economy did better under SAP. You cannot argue with statistics

wirinet:
Float currency ke, when we import over 80% of our consumables, including fuel. That would have disastrous socioeconomic consequences.

Before the government can attempt to float the naira, we muse stop the importation of the following items;
1. Fuel - petrol, diesel, kerosene and aviation fuel.
2. Rice
3. Chicken and other poultry products
4. Steel.
5. Bitumen.
6. Fish

eddiebruk:
If CBN is ready to fight this, they should increase the Card use limit internationally, Most people overseas who wants to make use of their funds in their Nigeria banks abroad have to rely on the Nigerian black market abroad to get foreign currency instead of just using their ATM to draw cash like every other countries. We are not the most corrupt and I see no reason why one should not be allowed to spend what they have in their bank account irrespective of where they live until they are found wanting for a crime. We cannot all bear the burden of a few miscreants just because we have a president who thinks we are luxurious in spending. All these inflation talk will die a natural death if CBN removes the complete restriction on using your card abroad and allow Disaporans access their funds abroad.

Mosesm:
Good point. But with the Dangote refinery on board, the fuels and agro chemicals importation will nearly ceased.

[b] Are we importing bitumen? [/b]That will be silly. Even asphalt.

We have no reason to be importing other items on ur list

rusher14:
If you wish to go abroad, fund your domicilary account and spend without limit.

chigoziri2403:
Nigeria, a country where the dollar is more valuable and earns more respect than our own currency

gnykelly:
Say what you know and understand.

eddiebruk:
Fund it with what dollar? Blackmarket? Same people who are the cause of the scarcity? Why do we have banks? Or you think the bank will sell usd to an individual besides Pta?

rusher14:
If you cannot bring in dollars to Nigeria, accept the terms set by our Apex bank.

eddiebruk:
Okay, bring in dollar I cannot take out? What a Joke...or I take out via blackmarket and bear the brunch of the loss..? Why do you think MTN is being fined for moving their proceeds out of Nigeria Nigerians and our way mentality instead of following industry standards.

TheFacelessMan:

Thank you Bros for an excellent comment.

I laugh when i see Nigerians foolishly quoting IMF / World Bank about "floating the currency "

If Naira is floated and it becomes 2000 Naira/$.... YOU and I and the dumbos wouldn't be safe from cannibals.

White folks who say we should float, say so from a safe distance. If Nigeria crashes as a result, will they offer apologies? What would SORRY even do then ?

Yes defending the Naira isn't sustainable long-term,
but we have to defend it until we can figure out working mitigating measures

wirinet:
Float currency ke, when we import over 80% of our consumables, including fuel. That would have disastrous socioeconomic consequences.

Before the government can attempt to float the naira, we muse stop the importation of the following items;
1. Fuel - petrol, diesel, kerosene and aviation fuel.
2. Rice
3. Chicken and other poultry products
4. Steel.
5. Bitumen.
6. Fish

Okoyeebows:
Stop making a fool of yourself. The USD is more valuable than the currencies of many countries and they are doing very well.

Do you know the exchange rate of the Yen to the dollar?

You want to criticise but ended up looking stupid.

wirinet:
Float currency ke, when we import over 80% of our consumables, including fuel. That would have disastrous socioeconomic consequences.

Before the government can attempt to float the naira, we muse stop the importation of the following items;
1. Fuel - petrol, diesel, kerosene and aviation fuel.
2. Rice
3. Chicken and other poultry products
4. Steel.
5. Bitumen.
6. Fish