ChinoJeff:
Q1... Can this be the changes we have been expecting?

Q2... Does it mean that the APC were juz clamouring change as a their slogan witout proper plans to effect it?

Q3... Can Nigeria maintain her integrity as Africa's no.1 economy under this regime?

God help Nigeria as I dont kno who to call clueless president now between Buhari and Goodluck.

LhoLar01:
When will #1 equal $1?

Tomasboy:
When ur children starts hearing someone calling dem Grand Pa

calebo101:


Very lame analysis. Do you sometimes think there are no educated people on nairaland? Or are you like actually dumb or doing this on purpose?? Please apply to Sahara Reporters for a job. That should be your true calling. Stop wasting your talents here mate.

aribs:
May the GOOD LORD bless you for this analysis . Instead of people to seek knowledge and understanding from those who know, they go on shouting without putting things into proper context. Your insight is profound. I have been advocating for this to be done without delay for months.

moski5:


instead of writing him off State your points clearly

ayusco85:
Devalue it o. if it will make our economy better

calebo101:


Very lame analysis. Do you sometimes think there are no educated people on nairaland? Or are you like actually dumb or doing this on purpose?? Please apply to Sahara Reporters for a job. That should be your true calling. Stop wasting your talents here mate.

ohenhen1:


How?

lexy2014:
it definitely won't make d economy better. D economy is import dependent. A higher dollar means importers will have 2 pay more 2 get dollars and by extension it will cost them more 2 import goods. That means price of goods and services will likely go up

socialmediaman:
Read Carefully and Understand why all this is happening

Exchange rate doesn't just get devalued because of what happened today, it is as a result of what happened yesterday. Buhari's government hasn't done anything that warrants devaluation of our currency. Observe that the report said the devaluation has been long overdue, they were probably waiting for GEJ to win the election before they told us the truth about how bad things had become, hope you didn't forget when GEJ told workers on May Day to prepare for hard times.

During the Global Economic crisis of 2008-2009, Yar'Adua had saved up to $62 billion dollars from the $43 billion OBJ left in the Foreign reserve before leaving office, the CBN used some of this to cushion the effects of the economic crunch...

Fast forward to the time of GEJ, Nigeria started witnessing oil boom again, GEJ couldn't save anything in the foreign reserve, he rather depleted it to an all time low of $29 billion dollars, he could not even invest the money he didn't save into the economy, not even after causing hardship on Nigerians after increasing the price of petrol, remember it was this same period that he started wasting 2 trillion naira on subsidy thieves, apart from that his government started granting fraudulent import waivers that caused Nigeria a loss of over $20 billion dollars, not to mention that his government through the NNPC mismanaged at least N3.8 trillion of Nigeria's revenue, it was all Jamboree. The most annoying part was that out of all these trillions, he could only afford to spend only N15 billion naira on Youwin project to create few jobs for the very youths who stood by him all through his jamboree government, but he was paying over 2 trillion to cabals who even abandoned him after he lost election.

Even with the oil price crumble, almost empty Federation account and only $29 billion in foreign reserve, Buhari was able to save $700 million in just 1 month to shore up our foreign reserve as a matter of urgency so that we won't be faced with hardship with the rising dollar, oil price fall and inflation.

Let's call a spade a spade, we are the ones who will suffer the financial crisis created by GEJ, we must support Buhari to recover all our money from GEJ and his cronies, they didn't steal money for us, thy stole for themselves and their families while we fight on their behalf, we must ask them to return our money. Leave only those who are being paid to support them them to do thier jobs, do not join them, let's all work together and put them to shame!

ayusco85:


Our source of foreign exchange is suffering a bloodied nose. Trust me until the price of oil rises, nigerian currency will be down. That's d bitter truth

Taylor86:
buhari is a failure

wish i can retrieve my votes and dat of my siblings casted for this recycled dude

sweet jesus

Bovis:
The so called foreign investors are only looking for the opportunity to buy Naira very cheap, thereby exploiting our vulnerable economy.

No be by force to devalue. The CBN has stated several times that any genuine foreign investor can buy and sell Naira at the official CBN rate.

It's in our best interest not to devalue the Naira any further.

What we're witnessing in The Black market is pure speculation. The parallel market will stabilise with time .

lookingfly:
.......so it's gej that is causing the devaluation ko and some apc supporters are attributing the partial stable light we have now to buhari, why not gej?hypocrites!!

lexy2014:
yeah I no. I was only highlighting d effect d devaluation of d naira will have on d economy

atlwireles:


What raw material? you keep shouting industrialisation, please stop making this statement when you have no clue how to get there.

rusher14:


What raw materials do the Koreans have?

PassingShot:



If after reading the article this is what the white matter in your head could still produce, it's save to say you lack comprehension ability.

All we're seeing now is the result of PDP/GEJ failure to diversify the economy in sixteen years.

fitzmayowa:
The rate at which naira is going down it will soon discover oil...SMH

datguru:
In the next two years dollar would get to 350 NGN

banki:
Please you guys should just shut up if you don't know or understand what is going on

What do we produce in nigeria that will earn us dollars? our major source of forex is crude and the value of crude has gone down drastically,

If we produce and consume locally would we be in this mess?

In the last 6months airlines have made over 200m usd from us cus we like to travel abroad

Foreign school fees has taking abother 200million dollars cus we like to school abroad

So tell me where and how we expect to meet up with demand