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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)
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Re: Naira Tumbles To 391/dollar by GoldCircle: 6:35pm On Feb 19, 2016 |
konvict0111: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: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: 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: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: 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: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: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: 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: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 already have a life size poster of him. May you live long General Buhari |
Re: Naira Tumbles To 391/dollar by egwajoe(m): 6:03pm On Feb 22, 2016 |
adajiboyy: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:ok bruv.nice one.cheers |
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