babyfaceafrica:
Quiet not quite..oga OP.............Professor Utomi should stick to what he knows best........academically sound,but politically naïve!!!!...God bless Nigeria

Dee60:
NIGERIA IS A COUNTRY WHERE YOU ARE DEEMED TO BE AN ECONOMIST BECAUSE, LIKE TRUMP, YOU HAVE ACCESS TO THE MEDIA AND YOU CAN MAKE THE LOUDEST NOISE.

ALL THE PEOPLE SCREAMING DEVALUATION HAVE NOT MADE ANY SENSIBLE ARGUMENT. THEY ONLY CLAIM THAT IT IS ENCOURAGING ROUND-TRIPPING. YET THEY CANNOT PROVE THAT WITH FACTS.

NATIONS DEVALUE THEIR CURRENCY TO ENCOURAGE FOREX INFLOW THROUGH EXPORTS. AND THEN THEY RE-VALUE AGAIN IN THE COURSE OF TIME. IN NIGERIA, NAIRA HAS NEVER (AND I MEAN NEVER) REGAINED VALUE. IT HAS ALWAYS BEEN ONE WAY. FROM 3 NAIRA TO THE DOLLAR, TO 11, TO 18, TO 32, TO 60, TO 98, TO 120. TO 158, TO 199!

IT IS SO, BECAUSE OUR DEVALUATION HAS ALWAYS BEEN TO ENCOURAGE SPECULATORS AND NOT TO ENCOURAGE EXPORTS. OUR OUTPUT OF COCOA, CASHEW, RUBBER ETC HAS NOT INCREASED IN THE LAST 20 YEARS. IN FACT, COMMODITIES LIKE RUBBER AND CASHEW ARE ALMOST EXTINCT. NIGERIA NO LONGER EXPORTS LEATHER. ALL THE PAST DEVALUATION HAVE FAILED TO ENCOURAGE ANY MEANINGFUL LONG TERM INVESTMENT IN PRODUCTION.

NIGERIANS WHO HAVE STORED MONEY ABROAD (SOME FROM DOUBTFUL MEANS) REALLY WANT DEVALUATION - THEY WANT THEIR 1000 DOLLARS TO FETCH THEM 300,000 NAIRA.

CONTNUED DEVALUATION WITHOUT SOLID LOCAL PRODUCTION THAT IS GEARED TOWARDS EXPORTS WILL ONE DAY MAKE YOUR CURRENCY WORTHLESS. COMMON SENSE.

DEVALUATION TODAY WILL MAKE PETROL SELL FOR A MUCH HIGHER PRICE. IS NIGERIA READY FOR THAT? WILL THAT NOT SPARK ANOTHER CRISIS? COMMON SENSE!

STOP SPENDING YOUR DOLLAR EARNINGS ON 'ANYTHING MADE IN CHINA' LIKE HUMAN HAIR, TOOTHPICKS, CHAMPAGNE AND WATCH YOUR CURRENCY GAIN VALUE. COMMON SENSE!

NIGERIA IS THE WORLD'S LARGEST IMPORTERS OF CHAMPAGNE AND BEAUTY PRODUCTS. WE ARE SURROUNDED BY WATER BUT WE IMPORT FISH ALL THE WAY FROM CHINA AND SOUTH AMERICA. YOU CANNOT CONTINUE WITH THAT AND EXPECT YOUR CURRENCY TO GAIN VALUE. COMMON SENSE!

SINCE THE CBN PLACED RESTRICTIONS ON 42 ITEMS, FACTORIES HAVE SPRUNG UP TO MAKE TILES LOCALLY. THERE ARE OTHER EXAMPLES. THAT WOULD NOT HAVE HAPENNED WITHOUT A POLICY TO CURB SENSELESS IMPORTS. HOW CAN WE BE SURROUNDED BY ROCKS AND YET BE IMPORTING STONES? MAKES NO SENSE!

WHILE THE PROFESSORS ARE TALKING, CHINESE AND INDIAN BUSINESS PEOPLE ARE LOOKING TO ESTABLISH FACTORIES. WE NIGERIANS ARE STILL SLEEPING AND MAKING THE BLAME GAME! TALK IS CHEAP. LET US GET NIGERIANS TO PRODUCE! COMMON SENSE!

CHECK WHAT YOU ARE PUTTING ON NOW - YOUR SHOE MADE IN ITALY, YOUR SHIRT IN UK, YOUT SUIT IN INDIA, YOUR TIE IN BANGLADESH, YOUR WRIST WATCH IN TAIWAN, YOUR HUMAN HAIR IN BRAZIL, YOUR UNDERWEAR IN THAILAND. YOU HAVE JUST RELAXED WITH NICE FRUIT JUICE MADE IN SPAIN AND YOU ARE WATCHING DSTV COURTESY OF SOUTH AFRICA. FINALLY, THE DIVIDENDS ON YOUR GSM ENDS UP IN INDIA. NO NATION DOES THIS AND EXPECT HER CURRENCY TO GAIN VALUE. COMMON SENSE.

THE BEST ECONOMICS IS THE ONE THAT MAKES COMMON SENSE. THAT IS WHAT NOBEL PRIZE WINNERS ALLUDE TO. AND I AGREE.

archdaura:
it seems aggrieved utomi don turn to wailer for not being appointed the finance minister. its a shame will all your PhD education and exposure addressing the President In fayose manner. next time before u talk olodo prof wailing wailer

babyfaceafrica:
yes ,just like NOI alsoe knew about the economy,which she helped ruin....phd is differed from politics

silverystone:
I would have insulted you now. However, let me keep my cool. #TALK_WITH_SENSE

Lionsclaw:
look at this one. What do you know about politics?

Utomi was talking about the political implication of that statement mum.uhari made because the world was listening and political decisions like that have feedback effect and economic implications.

Its embarassing that some of you are so dumb to a fault. I mean so in your mind mum.uhari is more sound politically than Utomi. Guy abeg shift

Godjone:
chai!
See finishing!
This man has reduced dullhary to a plate-carrying almajiri in katsina daura city of northern nigeria.

Buhary don suffer walai

mazzi:
Buhari is a product of tribal sentiment we have in this country!

This man is not fit to be a local government chairman,but here we are having him as president.

Atlantian:
Utomi is a Professor of Economics, correct me if I am wrong. And I will rely on the advise of knowledgeable people like him than listen to the narcissistic verbiages of emperors of emotional masturbation.

The exchange rate isnt something you fix. It is determined largely by micro and macro economic indices, but here we are in a nation over-populated by half-wise and half-foolish public commentators who are guided by sentimental political lineages to drum support for a clearly daft Buhari whose best credential is cattle-rearing.

There has been no new road constructions, no new airport built, no new hospital and not even a single input to the economy since the slowpoke became President almost 8 months ago.

soldierdollar:


In other words , politicians should be hired to run our economy and not experts

DirtyGold:
Book smart Pat Utomi, remember that Buhari didn't create the economy's problem neither did he or you predict the current dangerously low price of crude.

What's tha business?

danidee10:
one question.....was it buhari's government that squandered the money?

harmless011:


Do i hear you say devaluing the naira will promote importation, can you explain that.

DirtyGold:
Book smart Pat Utomi, remember that Buhari didn't create the economy's problem neither did he or you predict the current dangerously low price of crude.

What's tha business?

asamaigho:
SAY NO TO DEVALUATION
WE CANNOT MAKE DSAME MISTAKE IBB MADE DURING "SAP"

WILL NOT GO D'WAY OF ZIMBABWE OOO,
THANK GOD OKONJO IS NOT D MINISTER OF FINANCE OOO.

DirtyGold:
Book smart Pat Utomi, remember that Buhari didn't create the economy's problem neither did he or you predict the current dangerously low price of crude.

What's tha business?

datribune:


Check his antecedents, Utomi is not brilliant, it's just hype. dis guy as economic adviser kept giving wrong advice to d utterly corrupt & disastrous Shagari govt which ran our economy aground & brought great grief to our nation.
All companies ran by him - Bank PHB, Baywood continental, Volkswagen of Nigeria etc ar all moribund.
He was also quizzed by d EFCC 4 collecting a 2.7b naira loan frm his Bank PHB which he also ran aground & is yet to refund. I wish d govt will re-visit his case.

Tafugo:
Idiot that ran down Volkswagen and Bank PHB. Afin bukuru.

datribune:


Check his antecedents, Utomi is not brilliant, it's just hype. dis guy as economic adviser kept giving wrong advice to d utterly corrupt & disastrous Shagari govt which ran our economy aground & brought great grief to our nation.
All companies ran by him - Bank PHB, Baywood continental, Volkswagen of Nigeria etc ar all moribund.
He was also quizzed by d EFCC 4 collecting a 2.7b naira loan frm his Bank PHB which he also ran aground & is yet to refund. I wish d govt will re-visit his case.

mazzi:
Our wailing wailers ministry is booming more than expected!


Please everybody should contribute their widow's mit for the construction of our wailing wailers permanent site.thank you.

Sunnybobo3:
p
And since Adeosun took over, how market? £1=425 now.

onoja12:
WHO is this idiot again are you the only economist.utomi should shut his mouth how does devaluing the naira help the economy aside from making you poorer he should come and tell us,we are trying to push for export not encourage import,devaluation would only aid import.