bigpicture001:


The cost os house became quite affordable because 1st the supply of houses outweigh it demand...reason being that may people don't see on its game as a modern city..most houses don't hv water running in them..mist occupiers are traders, lest making it unattractive for ppl dt are not traders...

Again the plague of bandits nd thuggery scares people from osha..truth is all this has been fixed now..but the stigma is still attached to it. Most hotels are newly built...most relaxation spots are newly built..meaning all this year's, it's just a residential - trading town...aika which is more open has house prices to the heavens.. including asaba..

When we say floating it's means without control. You are correct...but it's been long CBN deregulated the supply side of the forex market to encourage investors and forex inflows...but they are yet to deregulate the demand side of forex...hence they require all forex demand to pass tru the CBN. Through the banks.

That will make a private operator to lose a lot of client who might need forex from beraue de change for importation of items or services blacklisted by the CBN....hence with d CBN control of the demand, they say it's a fixed exchange rate market

interesting analysis you and nwanneni got there

only if there were more folks like us on this forum

instead of talking tribalism

OfficialAPCNig:

In this next level, you are on your own.

I currently draw salary from the system, but I am making serious efforts to incorporate an IT company that would serve only foreigners interested in Nigeria services.

I must tap from Buhari's cluelessness.

You have to

Billy0naire:


Every administration in this country have been running around the same cycle doing conventionally mediocre things and nominating people based on nepotism instead of merit. And the stupidly ignorantly masses are supporting tribes against merit. I pity them not, cos they deserve their suffering mass-consciously.

All they do is share free oil money without innovations, no optimization and expect different results while masking their failed policies with hedging the currency against the national savings. Moronic Politicians at Abuja, all of them.

It is time to allow the economy rulesets to determine the value of the tender and not mask economic misgovernance by FX rate fixations.

In essence, they are busy wasting the savings to portray a healthy economy when in essence, they have failed woefully and have been masking the inefficiency by wasting even more money. Whitewashing the grave does not mean the corpse is not stinking.

Na now we go know the strength of the naira and by extension the economy.

Whoever has cash naira now should go and change to the dollars and hold it tight and sell it off for profits. Let us fucck with the economy together. I want new billionaires to emerge, the top is too lonely. We want some young people at the top.

I am just too lonely here. There is so much money in the country and people are just too focusing on yahoo yahoo not to see it.

interesting perspectives you got there

AgamaProf:

A long lasting way to make the Naira appreciate is having more of net export. If we export more, we have more of dollar reserve. That's why you always read news that cbn is pumping more dollar into the economy. If there is surplus dollar compared to the Naira, dollar rate will fall against the Naira. We must address the root of our problem-Low GDP, translating to low export and more import. As it is, we are not earning enough foreign exchange to keep the Naira in a good shape.
What basically the cbn does is policy work....all those expansionary and fiscal policies. Pump dollar from dollar reserve which is not sustainable-they are just temporary after the market might have adjusted itself back to equilibrium. It's a crazy viscous circle. But, the Naira value can only appreciate and sustained through billions of US dollar. The US dollar is the benchmark for every currency because it's less susceptible to volatility. The US market has the strongest efficiency-semi-strong form.

it's not really about the exports per se

But productivity

Boosting productivity in Nigeria will boost the currency and the economy
many people live lavish lives in Nigeria but add zero productivity to the economy


The two key functions of money is

Store of value
Measure of value

But if there is no value to measure or no value to store, the currency is useless
and THAT is precisely the predicaments of Nigeria

not really the imports per se

Ugosample:


interesting analysis you and nwanneni got there

only if there were more folks like us on this forum

instead of talking tribalism

bro you know most of these tribalists are just Homebase people.dem no dey waka lol

Ugosample:


interesting analysis you and nwanneni got there

only if there were more folks like us on this forum

instead of talking tribalism

Thanks man...am also attracted and comments on economic news

Joromi12:
After i sold my dollars. Una dey mad

Go buy am back.

Ugosample:


it's not really about the exports per se

But productivity

Boosting productivity in Nigeria will boost the currency and the economy
many people live lavish lives in Nigeria but add zero productivity to the economy


The two key functions of money is

Store of value
Measure of value

But if there is no value to measure or no value to store, the currency is useless
and THAT is precisely the predicaments of Nigeria

not really the imports per se

What is productivity?.....it's basically GDP. If GDP increases, import will reduce. It's still export. We will attract more fpi and fdi. We need to export more to attract forex. GDP=less import=more export. In any analysis, it is often advised that one should avoid using both GDP and export because they might co-move or have a positive correlation. Export is based on GDP.

AgamaProf:


What is productivity?.....it's basically GDP. If GDP increases, import will reduce. It's still export. We will attract more fpi and fdi. We need to export more to attract forex. GDP=less import=more export. In any analysis, it is often advised that one should avoid using both GDP and export because they might co-move or have a positive correlation. Export is based on GDP.

there are countries with high productivity but negative net exports
hope you know that....

dadavivo:
When will Buhari return the price of dollar to where Goodluck Jonathan left it for him.

Why couldnt Jonathan return the prices of everything the way they were before he left?

Or did he meet dollar at 230 naira in 2010?

[quote author=Ugosample post=79314522]

there are countries with high productivity but negative net exports
hope you know that....

Yeah I know....but why do you think they devalue Naira if it's all about productivity alone. Devaluation will increase the amount of Naira it will take to import. So devaluation is to encourage local production and discourage import. When you increase production to optimal level, then prices will fall. But the point am trying to drive at is that, what we are discussing is exchange rate issue and if that is the case, then we are faced with global trade. Then we begin to ask, at what rate does the Naira exchange for the dollar?...this is pure balance of payment issue not merely production.
So, basically, what I was trying to say is that the GDP is a major driver of everyother macroeconomic variables, it drives inflation, exchange rate even the market index. So at the level where production is centred at meeting only local production, GDP drives inflation. That is, price of goods will fall. But at the level where production is aimed at export, that is a point beyond local production, GDP drives exchange rate.

InvertedHammer:
/ InvertedHammer

/

I sent u a PM sir. Please check

If you go in a hurry, coming back may be slow and painful