When promises are made, we should seek clarifications before jumping into conclusions

I thought so too

lol

Lol. But I predicted the fall of naira to a dollar when politicians where throwing dollars around durning election some of which was coming from our foreign reserves. Now its happening

Before nko Wetin be "change"

"Change in APC's dictionary means: to split higher denomination/currency into lower or lesser denomination


#ps: I'm not responsible for anything I post on NL.

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pls can someone analyse and educate me on how persistence increase in dollar affect common man on the street?

minifuworld:
pls can someone analyse and educate me on how persistence increase in dollar affect common man on the street?

It does. It means goods bn brought in from outside the country would be more expensive because of the exchange rate. And in a country where almost everything is imported the infeffect on the common man would be felt. Example a ps4 is sold for $400 So as at January $400=80,000 exchange rate $1 to N200 now the same ps4 is still bn sold for $400 but since the exchange rate is now N260 it will now be sold for N104,000 in Nigeria. So you get the drift now?

dotunson:
Lol. But I predicted the fall of naira to a dollar when politicians where throwing dollars around durning election some of which was coming from our foreign reserves. Now its happening

That's very true. That's the question I keep asking. What did the think will happen after the election? PDP practically made the naira invaluable.

More so, even if Jonathan had won the election, the naira would still fall and they wouldn't be able to control it. They won't be able to recover any Looted funds like what is happening now. So, it was a lose lose situation if PDP had won the election and things to would have been really hard. Even the minister of finance then told Nigerian to prepare for hard times or didn't they hear it?

rottennaija:


That's very true. That's the question I keep asking. What did the think will happen after the election? PDP practically made the naira invaluable.

More so, even if Jonathan had won the election, the naira would still fall and they wouldn't be able to control it. They won't be able to recover any Looted funds like what is happening now. So, it was a lose lose situation if PDP had won the election and things to would have been really hard. Even the minister of finance then told Nigerian to prepare for hard times or didn't they hear it?

How many months now....keep complaining like a pregnant woman...continu

rottennaija:


That's very true. That's the question I keep asking. What did the think will happen after the election? PDP practically made the naira invaluable.

More so, even if Jonathan had won the election, the naira would still fall and they wouldn't be able to control it. They won't be able to recover any Looted funds like what is happening now. So, it was a lose lose situation if PDP had won the election and things to would have been really hard. Even the minister of finance then told Nigerian to prepare for hard times or didn't they hear it?

Naira has fallen by more than 50% since Buhari and his gang of "do nothing but gallivant" came into power, the question is , what have they done to stem the downward spiral, Nothing. Instead of engaging in useless presumption of what could or could not have happened if Gej was still in power, what should detain u is what has been the fiscal policy of this administration? Something to complement the monetary policy of the CBN

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Wildrage:


Naira has fallen by more than 50% since Buhari and his gang of "do nothing but gallivant" came into power, the question is , what have they done to stem the downward spiral, Nothing. Instead of engaging in useless presumption of what could or could not have happened if Gej was still in power, what should detain u is what has been the fiscal policy of this administration? Something to complement the monetary policy of the CBN

Am not a part supporter but i think the APC govt as tried to stop the naira falln any further. CBN made some policies to slow the downward movement of the naira. They try to reduce the demand for dollar. E.g the BDC policy recently made that will reduce the excess Withdrawal in the Federal reserve. another one is the stoppage for depositing dollar into domicile accounts. Tho in the short run people who need dollar to Transact business would feel the burn but in the long run it will fix the naira. Especially if the oil price increases again.

dotunson:


Am not a part supporter but i think the APC govt as tried to stop the naira falln any further. CBN made some policies to slow the downward movement of the naira. They try to reduce the demand for dollar. E.g the BDC policy recently made that will reduce the excess Withdrawal in the Federal reserve. another one is the stoppage for depositing dollar into domicile accounts. Tho in the short run people who need dollar to Transact business would feel the burn but in the long run it will fix the naira. Especially if the oil price increases again.

Monetary policy must be complimented by robust fiscal policy to stimulate the economy, as far as I know, this govt after 7mths does not have a coherent fiscal policy that inspires hope and confidence of investors

dotunson:

It does. It means goods bn brought in from outside the country would be more expensive because of the exchange rate. And in a country where almost everything is imported the infeffect on the common man would be felt. Example a ps4 is sold for $400 So as at January $400=80,000 exchange rate $1 to N200 now the same ps4 is still bn sold for $400 but since the exchange rate is now N260 it will now be sold for N104,000 in Nigeria. So you get the drift now?

e be like say you don dey save since for the PS4

While PMB is a famed pathological liar, with lie mohammed firmly at his side, I'd concede that the APC accurately counted on the gullibility of most Nigerians when making such campaign promises.