My people perish for lack of knowledge.

Henrique4real:


Very explicit! Well done. This of course explains why Buhari is travelling to Saudi Arabia to see how a consensus can be reached to possibly reduce production thereby increasing the selling price of crude for more inflow of FX.

Saudi arabia sef ba mumu, them no know say they gas reduce production somother countries no go die commot
I fvcking hate those guys, heir oppression no be here.

0taPiaPia:


are you guys for real

lets give him a chance

francizy:
Another round of scam change has surfaced again, but I refuse to buy it since am not passingshot, obiagelli, modath , Kingtom , etc...

do you know who I am I don't need anybody's money I'm contesting to better the lives of my people I'm not going to steal anybody's money incase you don't know Ifeanyi Ubah is rich ifeanyi Ubah is wealthy.















Ifeanyi Ubah during the gubernatorial debate for Anambra state elections some years back.

Naija don suffer
He can do it

WAZOBIA is d biggest problem to dat zoo called Nigeria. Something tells me dis guy got d solution but becos he is nt from South West or north waste or war north or PDP/APC or party affiliated as u nairalanders call it here because his solution likely to destroy d livelihood of d bloody profiteer speculators in BDC who are mostly northern elites & politicians & dollar hoarders in government then forget it. I'm beginning to hate dis country Nigeria. nairaland now a breeding ground for hatred & tribal bigotry between igbo & Yoruba. what a wasted generation & country.

RELIGION IS NOT OUR PROBLEM BUT ETHNICITY & LACK OF INTEGRITY .
Nigeria can be likened to tower of babel in d Bible. Many develop countries speak just one language.

10 years from now if d world remains , Nigeria will still be backward as it is now & even worst off if u don't drop tribalism.

simplycarro:


Very cheap, however he can only cheaply persuade his fellow band of ethnic bigots.
Same Nnamdi Kalu's Crew members

Your father is a first class ethnic bigot. Motherfucker! If they like let them band me I don’t give a Bleep. You’re so obsessed with the Igbos that I feel like kicking your lousy ass. You are a goat. Quote me and go to hell. Nkita nwuranwu….

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

Nice talk, but Mr. Ubah is a businessman and he is advertising his products (ideas)..so it all depends on the government to patronise him or not.

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

this is the best comment I have come across on this forum in the recent past

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

I strongly believe in your write-up,it shows you have a great understanding of economics beyond average level,i like to read something that's quite educating and eye opening. I will like to knoww you sir.you can contact me through my mobile line 08086464786.

[quote author=movingforward post=43153252]this is what i call an educated illiterate conclusion,you mean apart from oil there is no other way to solve this pressing issue?so we will have to wait until the west decide on how much to buy our oil,before we can do business ?all i see in your writes up's are oil this oil that,with a heavy heart i pity your parent's that suffered to train you as an economist,because the conclusion of your useless theory or ideology is that we should just wait,no other option than to wait ,until our almighty master's decide,Oga we need all hand's on the table to tackle this issue,if mr Ub


a or whatever he call's himself claim to have the perfect wisdom to run the matter and even ask for just one month to fix it,why not try him ?instead you sit in your office n type rubbish and jump into conclusion,if europe is in currency trouble and someone demanded to be consulted to give a solution,they will swallow there pride and consult the person,even from


What does Ubah knows about economy. Most of them feed at the expense of the poor. I don't believe any of these so called Cabal. They built an empire that can't sustain them, because any business been run without clear accountability will not stand the test of time.Ifeanyi Ubah was just saying rubish.Is Ifeanyi Ubah not in Nigeria in the last 5years, when the last administration was paying trillion of naira on subsidy.Refinery is not working,does he make any meaginful contribution in building a refinery, by so doing he would have reduced pressure on dollar. If it was Dangote saying this, I would have listen to him, because he has contributed extensively in the real economy. This Ifeanyi Ubah of a thing should just shup up, because we all know he is oneof the cabas that benefitted from the subsidy scam, and he will never support growth of the real economy.

innocent1:
Nigerian Like quarrel pass fight. The man has not asked for a dim why not consult him and see what he has to offer?

i tire ooo

Bevista:
I have already made several comments regarding the $1 = N1 rhetoric. Buhari never made such statement, but that is another story entirely.
---
As regards the excess crude account, when it was shared, the FG got 52% of the share. Can NOI tell us how she saved the FG portion?
---
Nothing stops BDCs from getting dollars anywhere to meet local demand. CBN only stopped them from getting dollars from the Foreign Reserves.
---
We can speculate about how Ubah wants to go about the $1 = N200 campaign, but if it is about setting up a BDC, then I wonder how he will do better than the thousands of BDCs currently existing.
---
As I said, it's about supply. Where is Ubah going to get his dollars from? Clearly not from CBN. If he already had his sources, he should flood the market already with his dollars and make a killing from it.

I don't want to believe you are being naive here. For the $1 to N1 issue, sorry Buhari brought it up during their campaign in Owerri.

For the excess crude account, why did governors insist that it must be shared and what did they do with theirs as well.

For what Uba said, don't think he does not have a blue print of what to do before coming to a national TV to say such. Uba is a business man and might know what to do to salvage the situation. BDC operators were many I agree but their business were surviving at the mercy of CBN. They use to get forex at subsidised rate from CBN and had no other means of getting forex. If travelex and two or more firms like them starts operation in Nigeria supply of dollars will be equal or even more than demand and you'll see naira going back to N180.
Forget about where Ifeanyi Uba will get his foreing exchange, and know he can't just start throwing dollars here and there. He must get approval from the authorities and must follow due process too. Let them give him the chance to save our economy.

Bevista:
So, assuming the government does not reach out to him, can't he discuss the issues publicly? That way, anyone in government can hear and maybe implement it. Why is the information coded?

I think he wants to quietly release his dollar into the nigerian economy while encouraging the importation of heavy duty industrial machines (as stupid as that sounds) i really don't know why a philanthropist of such magnitude would make such bold claim

Another option would be to travel back in time

Heaven will fall it is not on a head,but on majority. It is better you make free consultation with government now,than come on air to give yourself name,otherwise all of us will go down with wrecking ship.. Yeye na tu!!!

many of us have been cracking our brain to solve this poo here on NL free of charge. if h3 has better idea bring it out.

onyxo76 post=43152752[b:
is there something this man sees that we are not seeing?

Obviously

You don't get to where Dr.ifeanyi is with your ordinary eyes

Tom29i:
WAZOBIA is d biggest problem to dat zoo called Nigeria. Something tells me dis guy got d solution but becos he is nt from South West or north waste or war north as u nairalanders call it here because his solution likely to destroy d livelihood of d cabals then forget it. I'm beginning to hate dis country Nigeria. nairaland now a breeding ground for hatred & tribal bigotry between igbo & Yoruba. what a wasted generation & country.

RELIGION IS NOT OUR PROBLEM BUT ETHNICITY & LACK OF INTEGRITY .
Nigeria can be likened to tower of babel in d Bible. Go find what happen. Many develop countries speak just one language.

10 years from now if d world remains , Nigeria will still be backward as it is now & even worst off if u don't drop tribalism.

It is easy for him ,his into brother was CBN governor ..let him advice him on what to do ..

emzila:
they are the ones hoarding the dollars, they want Buhari to consult them so that they will start to dictate for him, go sit down. many of them have decide to withdraw their NAIRA and convert them to dollar just to drain our economy of the dollar and make it scarce but very soon you guys will be tired of holding d dollars. just hold it until d budget is passed let me see if it will remain #400 then. if you know what you can do to help Nigeria, why must you wait for the president to consult you first?

it is normal among people that have higher intelligent,consulting them make's them feel appreciated,remember they are used to showing people the way but at end of the day being denied recognition

This guy is talking so confidently,think the government should consult him.

Call 08035034841 for your change of name advert.

240naija:
As the nation's currency exchanges at N400 to the US dollar on Sunday, Billionaire business mogul has said that if the Buhari-led federal government consults him, he could restore the nation's currency to an exchange rate of N200 to one US Dollar within one month.

Speak­ing on a Channels Television poli­tics programme on Sunday, billionaire businessman and the Chairman of Capital Oil and Gas Services Ltd., Dr. Patrick Ifeanyi Ubah, has advised the Federal Government to consult some Nigerians who can halt the free fall of the Naira which is affecting the na­tion’s economy.The Nai­ra currently exchanges at N400 to the US dollar.

The Publisher of The Authority newspapers, said that if the President Buhari-le federal gov­ernment consults him, he could re­store the nation’s currency to an ex­change rate of N200 to one US Dollar within one month, thereby arresting the slide in the Naira which is virtu­ally crippling the economy.

The Chairman of Ifeanyi Ubah Football Club, however did not say how he was going to bring the Naira down to an exchange rate of 200 per dol­lar, but said the government could seize everything he owns if he failed to do this within one month, if given the mandate.

Chief Ubah also affirmed that he was not involved in any way what­soever in the $2.3 billion Dasuki­gate arms deal that involved the for­mer National Security Adviser, Col Sambo Dasuki, adding that he was not in­volved in the politics of contracts and has never done any government con­tracts, whether at the Federal, state or local government levels.

"I am highly misunderstood, sometimes controversial. But I have never done any government contracts. I did not collect any money from Gov­ernment; I do not have an oil block – and I have not asked for one.

"I did not know Dasuki. TAN nev­er received money from Dasuki or the People’s Democratic Party. We did what we did in the interest of the na­tion and for posterity.

"I’m a politician with a mind-set of making life worth living for the people, when issues seem to be getting out of hand. So TAN has no hand in whatever that has to do with the arms deal fund."

He said following the controver­sies trailing the #Dasukigate, it has be­come necessary for him to extricate himself from allegations that himself and the non-governmental organisa­tion, Transformation Ambassadors of Nigeria (TAN), were in anyway in­volved in the sharing of the arms deal money.



http://www.levitoday.com/2016/02/i-can-bring-us-dollar-to-n200-in-one.html

NA WHICH WITCHNOMIC HIM GO USE

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

Thank you.

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
---
When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
---
There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
---
So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

Are you an economist? Because your analogy is very accurate

Zceesneh:
lets give him chance

u didnt get me... the man said 200-1$ in a month n there r already projecting the second month already ....

Mboi:
Yes he can do it. He is not Bubu that lacks integrity who promised Nigerians heaven and earth including making $1 to N1.
Ifeanyi Uba has saved Nigerians before in May 2015 when artificial fuel scarcity was killing Nigerians. He said he had enough fuel that will serve the whole country for weeks and he did it.
Now he said if given a chance he will make $1 back to N200 within one month, I know they will not want him to save Nigerians because of political selfish interest.
Very soon we’ll start hearing on news headline; How Capital Oil Boss Ifeanyi Uba Diverted $862billion from NNPC in 2014- EFCC

Sentiment aside bevista just gave the accurate analysis. There's nothing ifeanyi can do

simplycarro:
If Ubah cannot control Importation that is creating the massive assault on the Naira, then I wonder how he intends to bring the rate to 200/USD$.
Unless he can influence the demand side, he obviously want the government to increase the supply side and how can he do that, perhaps he want the government to print dollars

Yeah but printing more money causes inflation so it's useless venturing in such business

Simply by returning the billions of it Jonathan gave him to bury in the soakaway.........lalasticlala

Is this not the same guy that said they have gathered over 18million signatures to bring back GEJ? He's inconsequential. Talk is indeed cheap, in fact very cheap.

0taPiaPia:


u didnt get me... the man said 200-1$ in a month n there r already projecting the second month already ....

he can't just say that, he owns a football club, and he have other businesses, he is not begging for money, i know buhari won't listen to him because he is igbo, buhari doesn't like doing business with igbo, thats just the truth

If yoU know that you can do it,den go to aso rock and give your idea to the house of rep,maybe your idea will work for nigeria.

Bevista:
Ordinarily, I should not comment on this thread since Ubah has not mentioned how he would go about it. However, for the benefit of those who might get swayed by his cheap claims, I'll say something.
---
The exchange rate (PRICE of dollars) is determined primarily by SUPPLY of dollars (through exports, FDIs, foreign borrowing, etc) and DEMAND for dollars (through imports, payments of foreign school fees/medical bills, online purchases, etc). The NET flow of these transactions determine the Balance of Payments (BOP) account with the Central Bank. Elementary economics tells us that when demand exceeds supply, prices go up!
---
Coming back to Nigeria, it is well known that oil accounts for 95% of our FX earnings. As oil prices have collapsed from ~$100 in 2014 to ~$30, our supply of dollars has dropped tremendously. This is even worse when one considers that our cost of oil production is ~$20/bbl, meaning that our dollar revenue from oil has dropped from ~$80/bbl to ~$10/bbl. On the demand side, the request for imports are increasing. With such supply shock and increasing demand, there is only one way for the exchange rate to go. This is basic economics and has nothing to do with Emefiele or Buhari, except you are simply being mischievous or grossly ignorant.
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When oil collapsed from around $147 to $38 due to the 2008 Global Financial Crisis (GFC), Nigeria had a Foreign Reserve of ~$62bn. The then CBN Governor had to spend ~$20bn from the Reserves to meet import demand thereby preventing devaluation/depreciation. Between 2011 & 2014, oil price was above $100, meaning that the administration never had a dollar supply problem and so could maintain a stable exchange rate. Fast forward to late 2014 when oil prices slid to ~$60, the CBN had to devalue the Naira twice within a period of 6 months (Nov 2014 & Feb 2015) because the Reserves were too low (<$35bn) to deplete to support imports. Now in 2016, oil prices are around $30/bbl while FX Reserves is less than $28bn. The supply shock has reached unprecedented levels, yet demand for imports has not decreased. There is absolutely no way that the exchange rate can stay below N250/$. Simple economics says that price will continue to move till a new equilibrium is reached where demand equates supply.
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There is no policy from Emefiele, Soludo, Greenspan, Bernanke or any other Central Bank governor that can strengthen the Naira in the near term. Except we want to completely deplete the Reserves or go to the IMF to borrow SDRs just to meet import demands. Brace up folks, if oil price collapses to $20 (thereby increasing the supply shock) the exchange rate shall hit N1000/$ and I repeat, this has nothing to do with Emefiele or Buhari but simply economic forces. The only thing that can save the Naira is either for SUPPLY of dollars to increase (through high oil price) or DEMAND to reduce. Since we do not have control over the supply side, we can at least focus on managing the demand side.
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So Mr Ifeanyi Ubah, you have zero knowledge on what you are talking about. With all the money you made from the last government, you can start by building a refinery or some other manufacturing facility (like Dangote) to help us substitute for imports. That would help the Naira more than you seeking cheap consultancy from the government. Or except you want to broker a deal for the government to give amnesty to your Dasuki-Gate friends, so they can bring out stashed up dollars from soakaways and graveyards to support the economy.

Nice one bro. I think this is particular to remove peeps from abyss of ignorance they've subjected themselves to. Simple economics.

God bless your ink my bro for the exposition!

asuustrike2009:

Sentiment aside bevista just gave the accurate analysis. There's nothing ifeanyi can do

sentiment aside,he is not INSIDE mr uba's head to rush into conclusion

emzila:
they are the ones hoarding the dollars, they want Buhari to consult them so that they will start to dictate for him, go sit down. many of them have decide to withdraw their NAIRA and convert them to dollar just to drain our economy of the dollar and make it scarce but very soon you guys will be tired of holding d dollars. just hold it until d budget is passed let me see if it will remain #400 then. if you know what you can do to help Nigeria, why must you wait for the president to consult you first?

U 're so funny