Sant1m's Posts
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Flets:Hate, can be very devastating. Its a Swap deal, China I.e advance Nigeria 4B Yaun. CBN sell the Yaun to importers at a mark up, China buys from us and pay in Dollars. Remember the balance of payment is in China favour. |
lilprinze:just the same way, PDP was the greatest mistake. They laid the foundation for for all our woes. |
EasternActivist:PDP is cursed, if not why should characters like Fayose suddenly her hero and mouth piece. And a support base that is following the same wrong approach that cost them the election. You like it or not, when you employ the approach abuse, people from that region will ve no other option than to support their own wether he is performing or not. Remember ND gave Gej same support, hence because of numbers PMB will win 2019, even if he does not perform. The North must support PMB in 2019 to spite on the hate from SE. Even if the whole Imo, Enugu, Anambra, Ebonyi, Abia vote against him he has the SouthWest vote to counter that, because the SW are having a good deal in this Govt and they want PMB to complete his term so they can lay claim to it in 2023. Remember the North will want to reciprocate the present support from the SW. Igbos are in this for a long haul, only after 2031 can we push for our turn. Igbos be wise, build bridges not politics of hate. The North will not support us when its our turn. The hate we are investing on PMB will sure be repaid many years from NOW BY NORTHENERS WHEN WE PRESENT A PRESIDENTIAL CANDIDATE AGAINST AN AKWAIBOM OR C/river candidate, remember this post then. You reap what you sow. |
TANTUMERGO007:Your party better go bring out Ibori to become the president, like attracts like, evil attracts evil. |
peacengine:have you ever seen a group of market women coming back from market on a rainy day drenched? All they do most times is take cover under any canopy, are you calling that togetherness? Just wait PMB only mistake in this Govt is allowing Saraki and Dogara to head NASS cause of non interference when he should ve lobbied to get his men in even before swearing in. PDP cannot win 2019 never, their is no Northeners living that can defeat PMB in the North, Yorubas are having a fair deal in a Govt they installed, hence they will be massive in their support come 2019. For the SS and SE it is not to their interest that another Northener takes over from PMB. If they wish to get the presidency soon. As for Northern minority Christians PMB appointment to them is the best ever under any Govt. Just go to sleep PDP is not coming back soon, APC are no fools. |
chernest2002:There is just no way PDP can defeat PMB, he will perform just be patient. A four yrs mandate and just under 1yr you guys ve rated him. Can SS/sE votes get you the presidency? PDP is dreaming. |
ojuolu:Thanks, i wonder how some Nigerians think or believe that Largarde loves Nigeria and Nigerians more than Buhari. Since the seventies IMF have been teleguiding our past presidents, where has that taken us? Countries like Singapore, China and co, that broke off to do their own thing are better off today. It is not to the West interest that Nigeria becomes a reliant Nation, Hate Pmb all you want, but know that Largarde does not love you either. |
989900:i am impressed, what an interesting proposition, but then if states allocation are released to them in dollars remember not all monies that accrue to federation accounts is in dollars, custom duties and various taxes. It means that we still need to create income stream as a nation to earn enough dollars. Okay, lets say Benue state receives 300m dollars as her monthly allocation. 1. Since the state cannot just go cashing dollars to pay salaries, the banks still has lots of influence on the rate the dollars will be converted to raise 3b naira for them to pay salaries. Likewise payment to contractors, since they cannot be paid in dollars. At the end the banks still keep the dollars for sale to importers at a rate that will be determined by forces of demand and supply. Nay, Nay, Nay. I don't think it will fly. Is there any advantage in this model for the local manufacturers who want to buy machinery for his factory?. |
mandarin:Thanks, it is beautiful that there are Nigerians who understand where PMB is going with this, how i wish the Govt can further make funds available at 197 to Nigerians like your wife to buy machinery, there is no two way about Industrialization, develop your own or remain dependant forever. There is billion to be made from exporting cassava starch yet Nigerians still import this product. |
IVORY2009:I now realise that FG must assert its power over her territories, Gej destroyed the fabric of our Nationhood to breed men who now reason like you. Can an American ever voice out that the U.S.A should be careful arresting Bill Gates, or else America will suffer. Its a pity |
ipledge10:Tufiakpa! This time he will sit at the door of the vault at CBN to personally supervise that no dollars enters there. What he did before will be a child's play to the looting he will supervise next. We seem to forget easily peoples misdeeds in this country. Mama peace will personally be selling the dollars as a mallams at an auction price of 380. Rubbish question |
Vicboi1:This is why i hate this Ipob shit, your sentiment against Rochas show its a movement because Pdp lost an election. You like it or not Rochas is the best Gov outside Mbakwe, he is massively developing the state beyond what your mentors did. Iheanacho built or is building his factory in where he wants and never because of Rochas and you know it. Take your hate infested life somewhere. |
drss:Do you guys know what devaluation is, or you are just joining the band wagon, are you saying PMB should accept that dollars is 390 official rate and 393 parallel market rate. Pls, who benefits? The masses, local manufacturers, importers, pls just who? I am no claiming i know more than anybody, but i am sure that devaluation will only take us back to the same pains we felt when dollars was 195 officially and 201 in the parallel market. To go further the same pains we felt when it was maybe 120 officially and 126 in the parallel market, i can go on and on back. There can never be a better opportunity to work toward diversification and building local manufacturing base than now. If we wish to be like Singapore and others, the bitter pill should start now. PMB said he will only fund, through the official market local genuine importers at 199, if as an importer you desire foreign goods, no problem, go and source your dollar yourself at the parallel market. By extension he is giving local manufacturers advantage over importers. Devaluation means NNPC will be importing fuel at 390, which will lead to increase in pump price, inflation, demand for salary increase, loss of jobs, closure of industries due to increase in operating expenses and salary. Devaluation will nail the coffin of this economy. PMB be resolute |
GoldCircle:I still maintain that the implementation of TSA and prudent management of our vault at the CBN has reduced the volume of cash in the system, the economy was definitely going to react, offcourse its not a conventional way of reducing money in circulation, but it definitely has impacted money supply, wether you like it or not. How is the parallel market funded? For us to get a proper perspective of what i mean. |
Brilliance9000:Under Gej oil was sold for above 120, were are those reserves today, You like it or not Gej mismanaged our reserves and brought us to where we are now. No matter how you guys try you cannot divorce yesterday's mismanagement from the consequence we have today. You claim Gej had the best economic team but Iweala herself admitted that GEJ GOVT BORROWED BILLIONS OF DOLLARS to pay salaries in the first part of 2015. She equaly agreed that there have not been capital releases since the second quarter of 2014 due to dwindling finances. "Nigeria cannot eat her cake and still expect to keep the coin", our reserve is still virtually what it was when Gej handed over, if i inherit the level of Dangotte's wealth, are we saying Dangotte conglomerates will suddenly become broke under one year because i am a bad manager? If that happen then know that there were hidden toxic assets and due loans that caused it. You like it or not corruption was the main source of funding the parallel or black market under Gej, the value of the dollar then was artificial. 2.1B dasukigate funds, dollars handed out to delegates during the election where were they exchanged? The current mess of the dollar is as a result of Blockage of revenue leakages and implementation of TSA. Its natural for the economy to react to adjust itself to this sudden stoppage of easy and illicit cash. Go and check the value of South Korea currency to the dollar and you will agree with me that, a countries currency value is not a death sentence, its an opportunity for us to improve our productive base while seeking to be self reliant. PDP AND GEJ ARE TO BLAME |
Demdem:One of the more reasonable post i ve read so far, it shows you are abreast of the situation. PMB is saying if you are an entrepreneur, manufacturer and you are willing to import machinery, raw material you fall among those the dollars we make from oil will be sold to at 199, but if all you do is import wine, toothpick, furniture, yatch, private plane, phones, flowers, etc go get your dollars yourself from the parallel market, he is not going to fund your luxury. One think i want us to ask is, if PMB says he will not fund the parrarel market. (1) Who then funds the parallel or black market? (2) why has the dollar fallen sharply since PMB came? (3) Why is PMB rejecting devaluation? =The parrarel market is largely funded from our kits and kin who send dollars from abroad, also income from exportation by businesses, when foreigners come in for tourism with dollars, All these either go through the Banks, BDC, mallams. =Before PMB, we can agree that a lot of dollars found their way out of CBN coffers via corruption, also revenue leakages from outfits like NPA, NIMASSA ensured that the parallel or black market had enough of this illicit fund, this ensured supply and marginal difference between official and parallel market rate, so dollar it hovered around 220. The economy then was bloated and not production based. On coming on board PMB implemented TSA, this singular art blocked to great extent Govt Revenue leakages, reduced corruption, included also is the policy banning dollar deposits, all this contributed in no small way to conscript dollars in the parrarel or black market, hence the short fall and subsequent pressure on the price in the parallel market which led to what we have today, 385 a dollar. . =PMB in order to protect the masses is strongly against devaluation and rightly so. Devaluation will lead to NNPC importing fuel at 385 to a dollar, inflation, demand for salary increase, loss of jobs due to inability to pay new wage, local manufacturers will loose price advantages they ve now because under devaluation they will need to get their dollar for import import at 385 or 382. CONCLUSION Diiversification is the way to go as the Nation seeks to make Nigeria self sufficient. Ensure her business men export goods to earn more foreign exchange. At the present rate Dangotte, innoson, Ammanco, Nestle, Local textile outfits ate enjoying the benefits of buying dollars 199 and expanding their business, that is why local Manufacturers (MAN) are not complaining. Of course corruption affects the best of intentions including PMB intention to only make dollars available to local manufactures, i can't vouch for CBN and the Banks to be honest. There is no better time than now for our local manufacturers to improve capacity as they enjoy lower dollar rates. If the dollar spike were genuine and market related inflation would ve risen exponentially. |
prettythicksme:Some of you should take time to read, research and be open. The level of ignorance is pissing me off, one is supposed to learn on this site but you come here to find comments even a crude village woman cannot make. The value of a countries currency is not a determinant of the state of her economy. Pls, take time to find out value of the currency of some countries against the dollar. |
modath:My believe also, i equally think they want to leverage on his connection with Chad, to help them launder cash through Chad and use Chad as a base. With the believe that PMB cannot touch Sheriff without drawing the wrath of Chad over their support in the BH war. My views though |
TheFreeOne:i believe he can bring in funds from Chad and Niger to sponsor 2019. |
ikaboy:Hahahahahahahahahahahahahahahahahahahahahahahahahahahaha external spiritual forces indeed, hahahahahahahahahahahahahah,, i need to stop laughing, i am sorry pls, |
He will come for you Fayose, not when you want, or how you want. Be rest assured that he will come when you are most vunerable. |
godoluwa:Really, anyway in the city where i stay pure water have been sold for 10 Naira for over 3yrs now. I know you won't buy into my views, lets keep watching events with an open heart. |
godoluwa:by your comment that sachet water is 5naira, i now know that you are not in Nigeria. |
godoluwa:Long before PMB sachet water had been sold at 10naira, now! I want to ask, who funds the parallel market?. Why are after the survival of phone companies and motorcycle companies abroad? Isn't it best for our business men to attract Nokia and Suzuki to open a manufacturing outfit here and enjoy the official rate of 199 for all their spare parts import. While keeping our people employed. And if they choose to keep importing phones and bicycle, PMB is saying i will not fund that. With due respect Devaluation will do our economy more harm, the problem of any economy is not the value of her currency but the productive base of that economy. Look Govt is saying if you ve maybe 900m in savings, come we will support you as a local manufacturer to import machinery and spare parts at 199 to a dollar, so you can employ Nigerians and still sell here, but the if you choose to import phones and bicycles no problem go source the dollar yourself from the parallel market, this is the advantage local manufacturers ve and the reason they are doing well now, because the can compete in price now. They won't tell you and me this because they don't want you to join them until they finish expanding their factories at 199 to a dollar. Do you no why fuel is 86.50? Reason is NNPC is import getting dollar at 199, if we devalue and dollar becomes 350, fuel price will increase, workers will demand for more wage, local manufacturers will now get dollars at 350 for spare parts, machinery, raw material import, they will no longer be able to compete and this will lead to loss of jobs. Devaluation! NO,,, NO for me, hope PMB listens |
Joarams:Thanks man, the need to ruch into criticising any thing APC, without thinking. Your experience has even proven that PMB is on the right track. I want to ask critics of This Govt, Who funds the parallel or black marker? |
godoluwa:The ignorance of people is pissing me off, have you ever heard Manufactures Association of Nigeria(MAN) complain that the high price of Dollar is driving them out of business? No,,, because it is to their advantage. They can now compete in price with importers. PMB is fighting to build local capacity and growth yet most of us are ignorant about this. What PMB is saying look, i will not deregulate, we will keep funding local MAN and all those who wants to import raw materials and machinery from the official market at 197, for those who ve the desire to import wine, tomato paste, yatch, planes, school fees etc go source your dollars yourself at 340 or above. Devaluation means NNPc will be importing at 340 and this will lead to increase in pump price, demand for salary increase, Fg and local manufacturers paying more for salaries, high inflation, importers having the advantage again and pricing MAN out of the market, loss of jobs and the country staring the circle over again. People should stop listening to Times, CNN, Blomberg they can and will never desire we become self reliant and produce at home, it is not to their Govt best interest. Nations that took the leap make hard choices, it comes as a deliberate ploy to favour local manufacturing over imports. Its unfortunate we no longer support or look at things objectively. PMB is right on this. If truly the price of dollar at 340 is not to the advantage of local manufacturers why is it that the price of imported items or goods have not risen in proportion to the rise in dollar at the parrarel market? Simple, they want to still compete in pricing with local manufacturers. If this is sustained most of them will ve no choice other than to go into producing those items here, thereby employing Nigerians. That is PMB's desire. |
donbrowser:Allow APC to ve their choice in strategic positions to drive their agenda, so that we can hold them responsible at the end of their tenure, As for naira the drop is good, remember it is in the parrarel(black) market that dollar is above 340, in so far Govt is supporting local manufacturers(MAN) to access dollar and helping them to price out import, the Govt should keep funding resolutely the official market in due time business men will realise that it is cheaper to manufacture here than to import. It is a win win situation. Have you ever asked yourself why inflation is not moving along with the price of dollar in the black market?, simple, with Govt support for local manufacturers at 199 a dollar for raw materials and machinery, importers ve to ensure price of import remain reasonable to compete. Bubu is right on this, all that needs to be done is strict measures to ensure only genuine manufacturers access the official rate. Nigeria is destined for greatness. |
MrMcJay:it was a big mistake allowing Gej rule this Nation, he debased the fabric of what a nation should be and elevated miscrants to leaders. Most folks in the region can't even comment against this people in ND or else you are done. Ankio is an opportunistic working so hard to be a leader, but her orientation is flawed. In ijaw land you don't talk as an elder or a chief unless you are backed by militants and cultist. All well meaning Ijaws should stop listening to people like Briggs and recover their dignity. As for PMB the nation should pull its authority or we will forever loose it. If Briggs stands in the way arrest her. I know PMB has guts he should stand up to be counted as the leader who reclaimed our values as a nation. Obj and Y'adua held the values, Gej really destroyed everything polarized us along ethic and religious lines. I know by now he regrets the way he desecrated this nation. |
masterpower:Imo is APC, EDO is APC, thank God for the judgement PMB second term is assured as card reader is no longer relevant, what counts is number of voters in the voter register and who controls the inec result sheets., PMB for 2019. |
HammerEvery:I am sure that somebody that looks like PMB once abused your womanhood as a child. I understand if PMB reminds you of that experience, whoever you are, i am sure you ve no respect for your father |
naijaboy756:dream on, it is free. The supreme court judgement that has discarded card reader guarantees that It can't happen. One man one vote is no longer a mantra but who has might and more voting power in line with the voters register. APC has more states, control the Army, Inec and police. My broda forget any party winning the next presidential election, unless PMB decides to support electoral reform. Fight for other things and forget the presidency in 2019. |
Like i keep saying, let us manage our economy our own way. China did it, they are creditor to US today. UAE did it, they have become the 8th wonder of the modern world., Japan has done it and they are still doing it, why not Nigeria? Is IMF afraid of the outcome, the freedom the development after these economic wilderness? We have too many professors in this government not to have considered this option in the first place. The colonial master want to continue the plundering that left african continent in the mess we are today. Madam IMF should leave us alone.
Diiversification is the way to go as the Nation seeks to make Nigeria self sufficient. Ensure her business men export goods to earn more foreign exchange. At the present rate Dangotte, innoson, Ammanco, Nestle, Local textile outfits ate enjoying the benefits of buying dollars 199 and expanding their business, that is why local Manufacturers (MAN) are not complaining. Of course corruption affects the best of intentions including PMB intention to only make dollars available to local manufactures, i can't vouch for CBN and the Banks to be honest. There is no better time than now for our local manufacturers to improve capacity as they enjoy lower dollar rates. If the dollar spike were genuine and market related inflation would ve risen exponentially.
