Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,207,102 members, 7,997,859 topics. Date: Friday, 08 November 2024 at 06:59 PM

Naira Tumbles To 391/dollar - Business (8) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Tumbles To 391/dollar (30326 Views)

Naira Tumbles To 503 On Parallel Market / Naira Tumbles To 490 As Dollar Shortage Continues / Naira Tumbles To 360 As Dollar Supply Dries Up (2) (3) (4)

(1) (2) (3) ... (5) (6) (7) (8) (Reply) (Go Down)

Re: Naira Tumbles To 391/dollar by GoldCircle: 6:35pm On Feb 19, 2016
konvict0111:
Madam, do you really mean to tell us that you didn't get the drift.

I guess it has to be either one of two things:

1. That you do not have the requisite inclination to follow his explanation through, or;

2. That you're just being frivolous with your riposte.

I'll tend to think the latter is more correct in this circumstance, but you may advise us differently if this is not your understanding.
New English wey you learn dey sweet you to type here abi? What is the highest level of education you've attained if I may ask. I'm not here to join issues with juveniles who have never earned a paycheck all their lives. Rubbish!
Re: Naira Tumbles To 391/dollar by Nobody: 6:54pm On Feb 19, 2016
GoldCircle:

New English wey you learn dey sweet you to type here abi? What is the highest level of education you've attained if I may ask. I'm not here to join issues with juveniles who have never earned a paycheck all their lives. Rubbish!
At this point, I think there's no need for me to push you further on this.

I see you have a penchant for halfhearted measures. I can assure you I'm not the most educated guy around but I am continuing in my efforts to improve and better myself.

In the end, I hope it leaves me well rounded and intellectually competent to contribute meaningfully to issues both now and for the future.

I have no issues with you and all the insinuations you have and may still wish to raise about me while hiding behind an avatar.

Thanks and best regards,

Konvict0111

1 Like

Re: Naira Tumbles To 391/dollar by Nobody: 7:00pm On Feb 19, 2016
mightyhaze:
well,ur right! But common sense shd have told him dat at a time like dis he shd strive to patronise locally made goods 2 save our forex! Dat aint rocket science na! Any dullard in nigeria knws dat we are wher we are 2day due 2 overdependence on foreign goods. Dollar is 4h now bros and tins have skyrocketted...I just bot nivea rollon 2day for 7h against 300/350 dat I normally buy it. I'l leav u 2 catch ma drift,..

Innoson doesn't have any vehicle in it's inventory that is worthy of a direct Presidential fleet and besides they don't manufacturer vehicles but simply assembles them from foreign CKD units.

Money spent on Presidentaial fleet is not going to worsen Nigerians problem.

We are here today not because of foreign goods but because of corruption and not diversifying our economy enough. We were too reliance on oil.

1 Like

Re: Naira Tumbles To 391/dollar by mightyhaze: 7:25pm On Feb 19, 2016
EgunMogaji:


Innoson doesn't have any vehicle in it's inventory that is worthy of a direct Presidential fleet and besides they don't manufacturer vehicles but simply assembles them from foreign CKD units.

Money spent on Presidentaial fleet is not going to worsen Nigerians problem.

We are here today not because of foreign goods but because of corruption and not diversifying our economy enough. We were too reliance on oil.
oga we saying the same tin,...we were v reliant and comftable wit importin evth,cos dere was oil 2 balance trades,...! Dats probly why our corrupt leaders never diversified. Secondly,d action of a leader will always influence dat of d follower. If our dear president prefer 2 buy evth he uses from foreign lands,why shd I (the governed) be adviced 2 do odawise?? Plus,my guy,...innoson vehicles are not reassembled from its knocked down state.take a trip 2 nnewi and see things for urself ...and dose,whose opinion ur lead!

3 Likes

Re: Naira Tumbles To 391/dollar by Nobody: 7:45pm On Feb 19, 2016
mightyhaze:
oga we saying the same tin,...we were v reliant and comftable wit importin evth,cos dere was oil 2 balance trades,...! Dats probly why our corrupt leaders never diversified. Secondly,d action of a leader will always influence dat of d follower. If our dear president prefer 2 buy evth he uses from foreign lands,why shd I (the governed) be adviced 2 do odawise?? Plus,my guy,...innoson vehicles are not reassembled from its knocked down state.take a trip 2 nnewi and see things for urself ...and dose,whose opinion ur lead!

We're not saying the same thing.

I support Buhari buying import vehicle, you disagree.

I am confident that Innison merely assembles from CKD units, you disagree.

I'm an autoist and just in case you think I'm belittling IVM please understand that I am a supporter.

No country can stop importation of goods and trading with other countries, not even North Korea.

Also Japan has no natural resource and imports everything.

Importing is not bad. What is bad is not exporting to earn other than oil.

By the way, we don't have to agree and I'm not trying to force you to agree but please do some research on Innoson. Going to Nnewi to see a factory means nothing.

On your trip to Nnewi, did you see a design team, an Research and Development team, presses pressing out steel panels, engines being built from scratch as in engine blocks being formed and pistons being created?

1 Like

Re: Naira Tumbles To 391/dollar by gemale(m): 10:04pm On Feb 19, 2016
b4 we blame buhari,lets ask what is causing d increased fall of the naira against d dollar? Primarily, it is caused by the global fall of crude oil (90% of our exports). It is a global event dt even buhari isnt powerful 2 prevent. Check the currencies of oda major crude oil exporting coun3s & u wld notice d plummet in currency value. D foreign reserves & excess crude account is supposed 2 cushion d effects albeit temporarily. d problem we r facing is dt while our import bill is increasing, our export revenues r drastically shrinked. dis arose 4rm failure of successive govts 2 stimulate local production, diversify our economy, encourage multiple commodity exports & excessively reliance on crude oil. what makes our problem worse dan most oil export is dt we r an import dependent economy. So whaqts happening is dt d small dollars we have is going into d pockets of oda economies while their dollars dt used 2 come 4rm dem buying our crude oil has reduced seriously. What buhari is trying 2 do is trying (nt too well IMO) 2 put restrictions on d way our dollars wld leave our economy bt we r just too dependent on imported goods dt its proving really difficult. Importers need dollars 2 pay 4 imported goods so in dis case d importers anticipating crackdown on dollar availability r trying 2 buy more more dollars dan dey usually do. Dis creates more demand 4 dollars so because more naira is chasing fewer dollars, deres a spike in d exchange rate. Depending on d soundness of buhari's economic policies & d level of cooperation he gets 4rm involved parties, dis might either b temporary or worsen bt d bitter pill all nigerians must swallow is dt dis wld last a long tym & dere is little we can do 2 avoid it. We r reaping what we v sown b
Re: Naira Tumbles To 391/dollar by gemale(m): 10:30pm On Feb 19, 2016
All of u blaming PMB and canonizing GEJ should ask urselves dis simple question "if d nigerian economy was so strong as GEJ & NOI said & nt a fugayzi built on a stack of cards, y has it gone all haywire in d little tym he left power? If he did such a good job, y didnt it lat 4 even a year? Yes buhari shld currently apply more effort 2 salvage our economy 4rm going 2 the dogs bt dnt 4gt wt or rada who landed us here. When oil prices were $100/barrel, who didnt save sufficiently? who after 6 yrs in power (16 yrs 4 his party) failed 2 successfully diversify d economy? Who cldnt establish sufficient refineries so we wld stop importn fuel? who cldnt solve our power problems despite spending donkey years in power? dts who we shld blame.
Re: Naira Tumbles To 391/dollar by Nobody: 11:35pm On Feb 19, 2016
EgunMogaji:


No he won't.

He'll be getting the respect and admiration accorded to a General.

But please don't let me interfere in your salacious fantasy.
Respect for a General who personally disrupted a Democratic government? I'd like to see that.
Re: Naira Tumbles To 391/dollar by grandstar(m): 12:33am On Feb 20, 2016
EgunMogaji:


We're not saying the same thing.

I support Buhari buying import vehicle, you disagree.

I am confident that Innison merely assembles from CKD units, you disagree.

I'm an autoist and just in case you think I'm belittling IVM please understand that I am a supporter.

No country can stop importation of goods and trading with other countries, not even North Korea.

Also Japan has no natural resource and imports everything.

Importing is not bad. What is bad is not exporting to earn other than oil.

By the way, we don't have to agree and I'm not trying to force you to agree but please do some research on Innoson. Going to Nnewi to see a factory means nothing.

On your trip to Nnewi, did you see a design team, an Research and Development team, presses pressing out steel panels, engines being built from scratch as in engine blocks being formed and pistons being created?
Superlative post. Nigeria has no comparstive advantage in producing cars. The country is better off importing.

Imports are very beneficial. They fuel growth.

I have argued that if Nigeria decided to have a zero % duty for all goods, you'd feel the economy move under your feet.

The problem is Nigeria does not export as you said. Import substitution does not work.

1 Like

Re: Naira Tumbles To 391/dollar by Nobody: 12:56am On Feb 20, 2016
mykel20:
Respect for a General who personally disrupted a Democratic government? I'd like to see that.

It's his duty as an Officer that is sworn to uphold the constitution.

I fully support him. The fact that regardless of that, he's still hobnobbing with the elite leaders of the work currently mean that no one cares about the coup that he led.

It was for the greater good of Nigeria and I fully support him.

In fact if I woke up tomorrow and has declared martial law, I will be in full 100 support.
Re: Naira Tumbles To 391/dollar by Nobody: 6:54am On Feb 21, 2016
EgunMogaji:


It's his duty as an Officer that is sworn to uphold the constitution.

I fully support him. The fact that regardless of that, he's still hobnobbing with the elite leaders of the work currently mean that no one cares about the coup that he led.

It was for the greater good of Nigeria and I fully support him.

In fact if I woke up tomorrow and has declared martial law, I will be in full 100 support.
I would advice that you erect a statue of GMB and worship it every day because it's quite obvious that he can do no wrong in your eyes. You clearly don't understand Military regime and the issues that came with it. Who made him the sole determinant of what the greater good was? If he felt so strongly about leading Nigeria why didn't he resign from the military and run for office in the next election? Why should a man who truncated democracy be allowed to hold the highest office in a Democratic government. BTW Buhari can make mistakes and our job as the electorate is to point out these mistakes so that we can move forward.That's how a democracy works.

1 Like

Re: Naira Tumbles To 391/dollar by Nobody: 7:00am On Feb 21, 2016
mykel20:
I would advice that you erect a statue of GMB and worship it every day because it's quite obvious that he can do no wrong in your eyes. You clearly don't understand Military regime and the issues that came with it. Who made him the sole determinant of what the greater good was? If he felt so strongly about leading Nigeria why didn't he resign from the military and run for office in the next election? Why should a man who truncated democracy be allowed to hold the highest office in a Democratic government. BTW Buhari can make mistakes and our job as the electorate is to point out these mistakes so that we can move forward.That's how a democracy works.

I already have a life size poster of him.

May you live long General Buhari grin
Re: Naira Tumbles To 391/dollar by egwajoe(m): 6:03pm On Feb 22, 2016
adajiboyy:
nd u are the biggest hypocrite and the biggest 2 faced individual if u never insulted GEJ.can u swear wit ur life u never insulted or abused or bad mouthed GEJ.hypocrite
i don't insult people be it GEJ or whosoever. So i stand by my words!l
Re: Naira Tumbles To 391/dollar by Nobody: 6:35pm On Feb 22, 2016
egwajoe:
i don't insult people be it GEJ or whosoever. So i stand by my words!l
ok bruv.nice one.cheers

(1) (2) (3) ... (5) (6) (7) (8) (Reply)

The 10 Most Innovative Sources For Getting Good Business Ideas / ALAJO SOMOLU, Nigeria’s Most Famous Thrift Collector / Couple Donate N1m To Man Who Lost His Business To Onitsha Fire (photos

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 45
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.