₦airaland Forum

You said when the 'Economy grows' but how will the economy grow when we do not produce anything, no FDI, continuous slide in the price of crude oil, and strong Naira which discourage export and encourage import? Our only option is to follow the China's way which is devalue our currency and start production of exportable commodities.

echelons:
This is just one of the Economic theories they've propounded in order to achieve their aim.

The situation on ground does not warrant further devaluation, at least for now. The little cash Nigerians have will become less capable of paying the bills. People will start starving and this may lead to civil unrest and revolution (just like it happened in Greece that led to a change of government yet, they have not recovered).

Government cannot save from all fronts. Our foreign reserves can still cushion the imbalance pending when the economy starts to grow again.

Foreign investors know that their hot cash investment will yield great fruit if the Naira is left to the forces of Open market but when the revolution starts, they will be the first to take their money elsewhere and we will be the ones to suffer.

PS. Zimbabwe's economy failed because of lose government interference in economic activity of a developing nation.

Let's all Say NO to Naira devaluation.

You have some valid points but have you for once ponder what happen to a nation like like Nigeria whose foreign earning come from crude oil sale? Major exporter of crude oil like Nigeria has taken a major hit due to fall in crude oil price globally and Nigeria will not the exception. Strong Naira means our export will be expensive and import affordable to average Nigerians which will bring deficit balance of payment and the government will have to continue borrowing to finance the budget and this will send us toward Zimbabwe's way. As much as devaluation of Naira has some disadvantages, it is out best shot if we want to stimulate the economy and be able to export agricultural produce.

echelons:
God save the bankers and their banks.
Btw, why can't these people just get it into their skull? WE ARE NOT DEVALUING THE NAIRA AGAIN FOR NOW.

The CBN governor, Finance minister, and indeed President MB should reject in all ramifications these calls from IMF and these investors to further devalue the Naira, or allow it to be controlled by open market forces.

Should the Naira be devalued further, prices will skyrocket, inflation will go up, Naira will have no value, civil servants will demand for salary increase, poverty will reign supreme.

All these media sponsored campaigns are from heavy foreign investors who will make huge margins from their "hot cash" investments. They have been propounding all sorts of economic theories in support of devaluation. The same way they propounded theories upon theories for Greece and Greece is now forever indebted to EU nations and IMF with no sight of recovery.

We need sustainable, gradual growth that includes the low, average, middle income earners in the country.

Emefiele has my support on his theories.

Even China has to find a accuse person guilty of his crime before a court of jurisdiction before carrying out the sentence as stipulated by such court. People like you has let sentiments becloud their sense of reasoning to the point of making judgement on a case before a court. I'm not speaking for or against APC or PDP but against finding accuse guily on social media which is the new trend in Nigeria.

Yhinkss:
On what grounds was the accusations made. Some so clueless and have nothing to show for seven year than his acceptance of defeat. Those words was actually the obvious and lacks no dilution
However, for the PDP it came on the heels of buhari trying to sanitize the mess of holding a corrupt individual and a terrorist.
Check other nations of especially China, Dasuki and Joanthan would have been killed for corruption
As irritating as PDp is they were not even ashamed to say they intend to use Dasuki for their presidential candidate for 2019. This goes to show that the party has no sympathy and inconsiderate to the well-being of Nigerians. All they crave for is power
Soon PDP will only appear as history on the pages of social studies and government textbooks

I disagree with you. Men of God should face the work of God. No Man of God tell politicians in America or Europe to do the right things. All we need to do is have institutions in place that check the excesses of politician.

Walexsammy:
we need serious and uncorrupt clergymen to keep our politicians in check....cuz those guys(politicians) don't mean well for u and i

Average Buhari supporters do not see anything wrong in whatever he does and some are even campaigning for the suspension of the constitution so as to allow Buhari fight corruption to a stand still.
Nobody can fight corruption except institutions like impartial judiary, effective anti graft agencies etc just as it's done in developed world. All that Buhari needs to do is strenght institutions like judiary for impartial and speedy trials. Disregard to rule of law and court orders is am invitation to anarchy to our nascent democracy.

I'm so happy to have read your post. I'm not for or against APC or PDP but any government who does not respect rule of law do not have a place in 21th century. No foreign investors want to invest in a country who do not obey court orders. As much as i support fight against corruptions wholeheartedly, such fight must be within the limit and dictate of the law.

hush15:
Brother,
Firstly, I am only responding in good faith and not passing insults to you, the President or anyone that means we'll for Nigeria and also, would be as objective as possible so anyone quoting me shouldn't throw insults ask pls.

Here is a saying in my language that translate that the cutting of the head is a not the panacea for headaches. Whether corruption or insurgency, violence or disregard shouldn't be the first line of attack. Strenght is not only expressed through military might but also wisdom. Else, one would be caught in the same Web. Then, you that meant well then become the problem and at fault for meaning well. It has always been so, is and will always be so.


The President may mean well, but you cant break law to uphold another law just as you cant rob peter and pay paul. Whether Mr Dasuki or Kanu, if the courts have a different disposition, they should be respected. The President should learn he is not God and he can't want it better than the owner of the universe. He is the number one custodian of the Nigerian constitution and he should respect that which gives him the authority. There must be other ways of handling these matters without disregard for the rule of law consistently.

It is evident now that the DSS and other anti graft institutions, also the military are not acting independently but strictly under the influence of the Presidency and if they keep disregarding democratic principles and procedures all in the name of fighting corruption, how will justice be served and truth uphold. Security forces have been turned into political tools and compromised.

Nigeria doesn't belong to him or his associates and as such, can tackle matters on just personal perceptions. If he doesn't have evidence, he should or hard to prove them guilty, for someone who believes in hard work. Then, he shouldn't rely on reports only. He should also meet these people and speak with them. Let him hear from yem directly like Nigerians would like to hear from them not DSS or efcc giving reports to news and all we keep seeing on he dailies mare people who don't want to be disclosed. He mention Kanu had two passports, knowing how the government wants him down and out, do we really think he would let go of his passports.... thats is his last resort.

Mr President should understand that, in tying to put out a fire, you don't start another. He should also remember that he doesn't have a lifetime to rule Nigeria. When tomorrow comes, chasing people only shouldn't be what he is remembered for.
God bless Nigeria

You missed the essense of democracy. Buhari need to learn court order must be follow if we want to keep our sanity as a country. We look up to western world cos court orders are supreme and not even the president goes againt a court order.

Asiwaju9ja:
I have come to realise that the stupid and senseless people when dey here many. Na these kind people their parents pay special centre for make them for pass Waec and jamb. Brother abeg no waste your time on those ones.

After them go give them chieftaincy titles and all. Dem no know say if no be say na democracy na firing squad them suppose dey face now. This is exactly the kind of president that can bring small sanity to these corrupt people.

I can bet my life Fayemi will say completely different thing if PDP is the government in power now. How does the government intend to realize the revenue to finance the budget when crude oil price is on the down slide? The global fall in oil price will reduce the income of major oil companies in Nigeria and also affect the amount of taxes they will pay to the government and since crude oil sales is our major foreign earning , it means increase in exchange rate which will also reduces our importation and that will greatly accept the revenue government receive from custom. All basic economics theory point contrary to what the government want us to believe but hopefully they know what the people like me do not know. If this government can pull this through then i will call it ECONOBUHARISM- economics theory that state you spend more when you earn less and spend less when you earn more.

I do not see reason why you should commend him. Has the group been tried by a competent court of jurisdiction and found guilty? We as a nation can't continue to put laws in our hands be you governor, president or DSS. It's high time we let rule of law take it course and nobody should be tried through the media or jungle justice like the Army did.
We never learn as a nation. We made monster out of BH and here we go again

Zoharariel:
I commend El-Rufai a.k.a Mini-Buhari for this feat. This goes to show that no religious group is above the law.

Infact, I am waiting for the secessionists to start their madness so that we can gleefully replicate this memorable gesture on them.

Obatala Bless El-Rufai

Obatala Bless Nigerian Army

Obatala Bless PMB

Obatala Bless Nigeria With The Exception of The Secessionists - Amen!

I am not a lawyer but there is difference between what you are charge with and the enormous of evidence against you in court. He was charge with treason with little or no evidence to back such charges and that is the reason the judge keep granting him bail. DSS should respect the rule of law and let the trail continue but first grant him bail. Dss is doing more harm than good and also increasing the popularity of Kanu. You can be charge with terrorism and walk free if there is no evidence to substantiate such charges in court.

TonyeBarcanista:
Bros, there is always loopholes in law. He's standing trial for treason, which is not a bailable offence. The DSS are exploiting legal loopholes. Trust me boss, the case isn't so straight forward.

You are very wrong. He based his budget on realistic revenue expectation compare to Osun state with nothing coming from federation account due to reckless borrowing and insignificant internally generated revenue. People like you are quick to trade blame without no single fact and figure to back your assumptions.

grafikii:
Fayose has no projects for 2016, all he wants to do is pay salaries, pay newspaper advert, cut ponmo with other delicate meat and fish anatomy.
He will end it all with holy ghost prayer by december 2016.

Your assumption is wrong. Average Nigerians knows the landing cost of PMS so it is difficult for cabal to fix the price high when people know the cost. It is much easier to remove subsidy now with little increase in price of PMS due to falling price of crude oil but he fail to explain what will happen is there an increase in price of crude oil. This government is making assumptions that things will remain the same in formulating there economic plans which most likely things changes with.

Sibrah:
Good. At last I can afford to trust the govt with simple decision making. If PDP led govt had supervised same move I am sure the marketers would have transformed into cabals and regulate oil prices for huge profit via bogus claims. If the marketers could steal the govt money via subsidy you tell me how same govt would have been able to regulated them without subsidy. I support the move.

You are wrong. Every countries in the world has a street trading with little or no regulation from the government. What the CBN should do is make Dollars accessible to genuine buyers and discourage people from patronizing the black market. Fixing a limit on how much i dollars i can spend daily is an encouragement for people to patronize black market.

Ferdinandu:
Everybody is castigating Emefiele but this is part of the obvious change. Doing things in the right and legal way. Which sane country do people hawk Forex at street corners, no registration, no guidelines. This going to introduce hardship in getting Forex but in the long run that is the way to go.

The CBN is trying all possible means to regulate a free market which in completely impossible. It's either we operate a free market or closed economy. Regulating a free market is like stopping the flowing of an ocean, it will always find another route. CBN can determine the exchange rate of Naira to Dollar in inter-bank and not in street trading. Over regulating the exchange rates will only send wrong signal to foreign investors that Nigeria is far from free market economy.

You have a point. Why go on killing sprea when you can invite the dude for questioning. We need to over haul our armed forces for real.. All we have is trigger happy

Shymm3x:
You're sick in the head. You mean the same medieval country that allowed a ragtag group turn into the deadliest terrorist group in the world, is the same one you're running your mouth about, no? - hysterical. Iran just needs to supply them with Fajr-5, the same missiles hamas carry around, and let's see if ya ragtag militia men in uniform calling themselves armed forces won't scamper for cover. What type of country in the 21st century engages in extra-judicial killings of innocent and unarmed civilians - just because they have a different doctrine?

Shiites are the most peaceful Muslims albeit they're also the most vicious when their backs are pushed to the wall. Keep screaming "this is Nigeria" about a useless country stuck in the medieval ages...and watch poetic justice come bite you in ya arse. I only pity the innocent folks who would become collateral damage when they strike back.

How can you wipe out almost everyone in a family and expect them not to retaliate? The man has nothing to lose.

This has nothing to do with APC or PDP but how our nation has decend this low. Our armed forces went on killing sprea on a moderate Boko Haram and we are yet to recover from the monster we made out of them and here we go again. How long will it take us to learn from our mistakes? We need to learn how to manage religous sect because using circa on them will only radicalize them.

The truth is CBN knows the right thing to do but APC has made so much promises and this is for saving face. We have no other option as a country but to let the demand and supply determine the value of our currency if we want to develop as a nation. It's not the value of our curency thay determine our worth but the level of production and goods and services. Cyprus pound is the highest value currency but nobody for once talk about Cyprus as a country. Lets learn from China who constanly devalue her currency to make goods cheaper for export.

MAURI:
@xandy84



Thank you. You just nailed it. This is the hard reality on ground. Coupled with the fact that the CBN recently reduced interest rates! The current CBN policy of susidizing the Naira is not sustainable.

Wonderful on paper but the reality is crystal clear. With the record low in crude oil price which is our major foriegn earning should necessarily mean we should devalue our currency. Making dollars hard to come by will send wrong signal to investors that we are operating a highly regulated economy which is against the economics basic of demand and supply market and that is a turn off to foreign investors. All major oil exportor like Saudi, Russia etc devalue there currencies in face of dwindling oil price and Nigeria should not be an exception.

Staff means all the people working in an organisation. It could range between 1 - 100.

dhantey324:
Are they not more than one?

Staff refers to all the people working in an organisation. It could range between 1 - 100.

dhantey324:
Are they not more than one?

I really do not comprehend the need to travel here and there when he has lots to do at home. The country is on fire and Mr. president think it is wise to visit all the countries of the world. A man whose house is on fire does not chase rat but it seems Buhari view is contrary to the wise saying. I pray he succeed in bringing back the glorious days to Nigeria but his actions is saying otherwise and prayer without concrete plans and work is dead according to the bible.

Guess Buhari honeymoon is not over yet.. BH is taking over and all he has to say is We are winning the war.. who is "WE"



Here is the link to the full video


https://vid.me/uK6S

You are wrong. What works in telecoms will work on other sectors. Government does not have business in doing business and this is the simple truth Nigerian government need to learn. Remove subsidy completely, sell the refineries, hands off electricity generation and distribution. Government should only regulate. I have lost count of many electricity companies in United States cos every major different cities has different electricity company and such model should the copied in Negeria.

ThisMeansWars:
I know this exactly will be the response ..

Telecom telecoms telecoms ... Why not use phcn as an example ?
Last time I checked, generator sellers are still smiling to banks and its goverment that is till paying heavy money to build power station and transmison station not the investors .... It's people like you that want us yo believe that once phcn is privatized, our problem will suddenly go away .

Have you considered that what worked in telecoms might not work in other sector ?

we are talking about fuel that has impact on our daily lives you are talking about telecommunications... People can just boycott telecoms industry same way people don't give a hoot about nitel if they decide to have their own cabal , can you say the same about petroleum? Have you ever thought about that?
Can you do without petroleum in Nigeria ?

I personally think Buhari should stop making promises cos election period is over. This is the time his achievements speaks for him and not rhetorical promises. Nigerians have eyes and they can see if he is performing or not.

I beg to disagree on your conclusion bro. Policy statement drives government of 21st century and Buhari having a clear understanding of each ministries does not have any positive effect without clear cut policy for such minstry to follow. Am a fan of APC and Buhari but he needs to understand that NOW is the time to start delivering his numerous election promises to Nigerians. He needs to start walking his talk cos Nigerians patience is beginning to grow thin..

chinchum:
Buhari didnt wait for 4 months as president to announce ministers because he was confused as to whom to select, he waited because he wanted a clear understanding of each ministry , the state of each ministries, and the expected output from each ministries.

When Nigerians elected an old man as president, who do you guys expect to appoint as ministers? A young man?. No disrespect to the person of Buhari but he was HOS in 84 and 31 years later, he never developed himself acedemically except his poultry business and Nigerians expect him to perform magic. Wait till 4 years and you guys going to be sorry.

Awesome but he needs to focus his attention to numerous problems at home and come up with life changing polices because body language does not change anything.

Really? My point is made. Ignorance is when you do not have your fact before accusing someone of wrong doing. In a sane clime, you end up behind bars for false accusation but anything goes in naija.
Am not in support of corruptions but we all need to verify our claims before coming public. Simple

emmanuel596:
For your mind you don drop lyrics about GEJ

For the sake of fairness and justice. Have your fact ready before acccusing GEJ, any former minister or even Buhari. Sitting down behind a computer or phone to type this trash shows how immature you are because accusation without fact is call libel and can earn you jail time.. Grow up

You are been sentimental in your view. Isreal has never for once launch unprovoked attack on the Palestinians. It always the Palestinians that usually fire rocks into Isreal territorry and run to hide on civilians populated areas and Isreal does the best by dropping flyier warning the people before carying air raid on such areas.
History has shown time without numbers countries in the middle east makes much noise areas about about their military might when they literally has nothing in real sense. Iraq comes to mind.
I crave for relative peace in middle east cos the whole region is going down but Iran is no match for Isreal.

Zoharariel:
You're not paying attention and therefore I need not be repeating myself.

If you read my 1st comment on this thread, you would know if I am a muslim or not.

Whether Israel has come to stay in the middle east or not, is none of my business, but the day Israel attacks Iran, that day will be the end of Israel, Yahweh or no Yahweh.

Are you a Muslim? If yes then i understand the angle you seeing things from. Am not in support of Isreal war against Palestinians. Both side has fault and the only solution to the problem is thru diplomacy and not war. The reality is Isreal has come to stay in Middle East and Iran is no match for Isreal.

Zoharariel:
Yes, there's no doubt about Israel being in possession of WMD's but the day she bombs Iran with it, Walahi, contrary to all those biblical fairytales & horseshit, Israel will cease to exist.

It is not surprising at all that Christian hypocrites, like yourself, will never see anything wrong in the tremendous, deliberate & carefully calculated evil & injustice being perpetrated by Israel all in the name of God's chosen people.

I care less whether they control the American economy or not, but I assure you that Israel is never & will never be impervious to Nuclear attacks simply because one overrated reptilian sky-daddy say so.

Having said that, now, read this:

Israel Gets A Resounding Slap In The Face From Putin.

www.jpost.com/Israel-News/Politics-And-Diplomacy/Analysis-Israel-gets-a-resounding-slap-in-the-face-from-Putin-398614

Pic 1: Russian S-300 defense systems delivered to Iran.

Pic 2: Caesar Putin schooling Netanyahu about Iran on what & what not

Am not taking side with Israel but for your information, Israel is the only country in middle East that has atomic bomb and the Jews control American economy so going to war with Isreal is indirectly going to war with America.

Zoharariel:
I am neither a Muslim nor a Christian but Walahi Talahi, if Israel is not careful, she won't even see the year 2020.

The world no longer buys the biblical-horseshit & lies about Israeli being God's chosen people. That is not enough reason for you to start killing innocent civilians & annexing their lands.

If Israel is truly Yahweh's chosen people, Y don't they go against Russia or try annexing St. Petersburg like they've been doing to Palestine and see if truly Yahweh exists.

If war breaks out between Russia & America today, Ayayaya, It is bye-bye to Jehovah, not just Israel.