SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

But how can they manufacture to produce when there is no light at all. Look at it. What is it going to take them to fix electricity? Is it that bad?

They are borrowing money to do railway when less than one percent travel the rail when we don't have electricity. Don't you know if the money borrowed for rail is used for electricity we will so have light heen and we will produce more and our naira will be much more stronger

Why are we like this for heaven's sake?

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Refinery ,electricity ,Airline,shipping lines , cottage industries ,stable government ,Good an supportive government policies ,professional and competent civil servants .

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

What impact did the border closure have on d economy and the manufacturing sector?

hisexcellency34:
President Muhammadu Buhari should please do more to redeem the image of Nigeria's battered currency.
1 pound sterling to N780 is just unacceptable. Just a little change and it is N1,000 (our highest denomination)

we never see,

and you still dey expect Bubu to do something, somebody that was a major reason for it,

it's is well ooo, time to goan hustle to earn in pounds and dollars is now

aremuforlife:

1€ is equivalent to #650 in Nigeria, which means I can get many loaves of bread in Nigeria

Many you say, when last did you buy bread I mean correct bread? Or is it those #200 bread that you press and it turns to gala you call bread?

U lack economics sense and yet puting mouth in economic matters anyhow .. first of u need to have a booming manufacturing sector first locally and also make sure yours goods & services produced locally are top quality and easily marketable to the foreign nations before u talk about export & also clamping down imports.. does your country or your government have that in Nigeria yet? Besides the Uk named above is also a bug importer of goods & services too despite their thriving manufacturing sector .. next time stick to what u know best nor be to Dey talk chor chor cos u wan comment or talk


[quote author=SlyDev post=107388003]If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Really? How much was pounds before the border closure and how much is pounds now?these northerners and their half education eh y on earth would u close boarders when u haven't made arrangements and confirmed that the local production is sufficient? How much is a bag of rice b4 d closure and how much is it now? I have accepted that northerners are d problem of this country

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Damn
This is good news, am gon shot down Cubana grills on Sunday when my woman buys 500 pounds gift card for me. While I wait for the real deal by ending then I change my GLK to Lexus 350

aremuforlife:

You don't compare 1naira to 1pound, you equivalent it the counterparts.
Do you know why most businesses man and woman chose China as their market destination?
China purposely devalue their currency.
Like I said, 1pound can't fetch a plate meal, but you can get a plate of meal with #780 in Lagos and more in other part of the country, even cheaper FCT

Going by your logic, Nigeria is on the right track. Buhari should do fast and make 1 pound equal to 1000 naira so that we can afford a plate of meal and extra with the money.
The more you align with politicians, they more you lose ya senses.

aremuforlife:

I bought dollar 160 in 2013,
That was the average dollar rate before GEJ left power in 2015

That was before 2011 election.
Naira was less than #22 to dollar when Obasanjo came into power in 1999
Nigeria did not start in 2015.

In 2013, oil was above $100, and reaching $120-30 some months.

We had the dollars to buffer the value of the naira. That's why we could get one dollar at N160

It was even better in 1978....one pound and one dollar got you one naira. In 1978, the price of oil was also...skyhigh thanks to the OPEC shock which kicked off in 1973 and lasted till 1982.

Oil started collapsing in 2014. We held off the evil day by spending from our reserves, both during the last year of the GEJ admin and the first seven months of Bubu. Till oil crashed to $30 per barrel in 2016, and we woke up.

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

You suppose be central bank governor ooh.

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

What did we benefit from the closure of border? Is it that you guys choose to be dumb deliberately? How can you manufacture in darkness? A country with out power wants to manufacture for exportation...lol. clown.

Closed seme border but left a porus border with Niger open. Weldone!

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

bolaayenimo:
A friend recently told me Zimbabawean money that is the worthless in Africa now has value than naira. I refuse to believe it

What differentiates us from them now? Literally nothing currency-wise

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Boost which stupid production?

What difference does it make? Is the boarder open now? You don't even have enough to eat you're talking of production, the insecurity alone is a big factor that will hinder anything from growing in this country.
Some farmers had to pay money before they can harvest their crops, some can't even go to the farm and you're talking about production, what do you want to produce?

nairavsdollars:
The funny thing is, this bros saying one pound is useless in UK may not have been to the airport all his life ooo

Bread is £1.70 here is he is right, £1 can’t do nothing

Foreseer:
You suppose be central bank governor ooh.

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

after he closed the border what happened ? And how did it help the Naira?

Commentor:


No matter how it is broken down for you, you will still argue.

I'll try though:

UAE oil production - 2.9 million barrels daily.

Nigeria oil production - 1.45 million barrels daily.

‐---------------------------‐--‐----------------------------------------
UAE population - 10 million

Nigeria population - 212 million.

Are these reasons why Nigeria isn't making progress but going backwards?

If Nigeria was 10m with oil production 2.9m BPD and UAE 200m people with oil production 1.45m bpd, would the story be different?

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Someone gets it.

But Buhari closing the borders was not the solution...it might have worked before 1990, but not now, when open borders is the norm...plus it did not solve the productivity issue, and the issues preventing growth of productivity like power supply.

I can believe

Nigeria government major goal is to scam Nigerians

naira is getting stronger now 540 buying 530 selling, am thinking of converting my dollar b4 it goes further down

If.he does.know what to do. He should.be go and continue his rest at home

AntiBMC:
You telling him to do more of what exactly? Cos all d things he has been doing has only succeeded in battering the currency. He should not do anything please, before a Pound Sterling will start going for #1500.

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

With due respect, it is a stupid policy.

A proper way to do it is in steps
1. Inform citizens that a particular commodity will enter import restriction in say 18 months time
2. Facilitate citizens going into production of the particular commodity
3. Guarantee market for such a product and government purchases directly from the producer until import restriction come into effect. (This will guarantee that the volume required for consumption is met or even exceeded)
4. When import restriction is effected, there is enough market to absorb the quantity produced
5. The same technique is then used on ANOTHER commodity.

This is a Common Sense means of achieving an import substitution economy

The method of Buhari is uncalculated and insensitive way of achieving NOTHING.
It is just like saying: "When the people grow hungry, they will find alternatives things to eat"

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

How you run a manufacturing outfit in Nigeria before? Do you know they bottlenecks associated with manufacturing in Nigeria?
You think you use mouth to manufacture. Talk is cheap. Tell Buhari to give Nigerians the enabling environment to help and make manufacturing easier. Manufacturing is not by mouth.

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Tell buhari to first stop travelling upanda to receive medical, he should first start using our local hospitals here in Nigeria, then you can talk of to stop importing

Here in Libya, 1 dinner is equal to 1 hundred naira.

Manshot1:


But how can they manufacture to produce when there is no light at all. Look at it. What is it going to take them to fix electricity? Is it that bad?

They are borrowing money to do railway when less than one percent travel the rail when we don't have electricity. Don't you know if the money borrowed for rail is used for electricity we will so have light heen and we will produce more and our naira will be much more stronger

Why are we like this for heaven's sake?

1.Electiricty has been in private hands since 2013...both discos and gencos. Government does not take loans for private companies.

2.The reason why power companies cannot borrow is that they cannot make a profit due to their being forced to charge prices below the cost of producing electricity (They are kept from collapsing by a government subsidy paid to them which just keeps them afloat, but does not cover all their losses).

Thus banks won't lend them money since they cannot make a profit.

The graphic below summarizes the problem of power in Nigeria.(Source of graphic is here)

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Close the ones in the south and open the ones in the north. Isn't he actually targeting tribe

aremuforlife:

You don't compare 1naira to 1pound, you equivalent it the counterparts.
Do you know why most businesses man and woman chose China as their market destination?
China purposely devalue their currency.
Like I said, 1pound can't fetch a plate meal, but you can get a plate of meal with #780 in Lagos and more in other part of the country, even cheaper FCT

Why shouldn't he compare naira against d pound?

The reason why china devalues it's currency against the dollar is to make it's manufactured exports cheaper which helps local industries. That's d economic sense behind devaluation. In the case of Nigeria, can u pls tell me what products we have at d international market?

[[s]quote author=SlyDev post=107388003]If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

[/quote][/s]

And he left Niger border wide open!