Stats: 3,173,107 members, 7,887,221 topics. Date: Friday, 12 July 2024 at 02:09 AM |
Nairaland Forum / Bilazego's Profile / Bilazego's Posts
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sarrki:Can someone help this guy by showing him the way to the nearest asylum. please! |
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Bolustic: Your guys are the drug barons. 1 Like |
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Bolustic: One more comment and you will get there - 'Yaba left' is just around the corner. 1 Like |
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thesicilian: You are not ashamed. Agbaya! 1 Like |
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Enough of this stories, charge the woman to court already and stop chasing shadows. |
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brainpulse: What have you said here that your tribe isn't twice as guilty? |
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emmytalks: You people don't love money yet you steal funds funds I billions 1 Like |
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How many of those killing people everyday have u arrested? 1 Like |
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PresidentAtiku: Their followers still plenty, as omenka and have is crew members 1 Like |
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dyabman: Buhari would have finished his first tenure in office. Thank God Mr Lai didn't infect him. |
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El Rufai is not fit to be a governor of state. |
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sarrki: Your sanity has to be investigated! 1 Like |
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sarrki: When was the last time you queued to buy cooking gas in any state of the federation? 1 Like |
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They told us prices will lower six months after the removal of subsidy. 1 Like |
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NgeneUkwenu: When will you ever make a reasonable comment? 1 Like |
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martineverest: Even your own name doesn't reflect as anything Nigerian. 1 Like |
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DrinkWater10:Go and drink water! 15 Likes |
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GlorifiedTunde: Your tribe are the greatest haters and blames everyone else except yourselves. stop associating ibos with hate. |
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salabscholar01: zombies never understands anything. go through it again God willing you might be healed. 2 Likes |
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malton: May your wife be kidnapped for you to gain public sympathy. |
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arresa:Take my advice seriously best for your well being. |
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arresa:Take my advice seriously best for your well being. |
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arresa: The only 'intelligent' man on the internet, never 'spews' rubbish! 1 Like |
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arresa: Intelligent Afonja, see what you are doing to yourself ? Why carry such a burden of hate? stick with love so that your days may be long! 2 Likes |
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Even APC's campaign slogan "change" was stolen from Obama. 2 Likes |
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APC have shown that they can't conduct credible elections.This is happening under President Buhari who contested every election results that he participated in court. one would have expected that by now he would have carried out reforms on the electoral act. 4 Likes |
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Buhari stopped attending same meeting as ex head of state while others ruled. I wonder how he will feel when the former presidents boycott the council of state meetings like he did in the past giving same reasons as his. 1 Like 1 Share |
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As Naira nosedives into a tail-spin, performing woefully against other currencies of the world, especially US dollars and British pound, there has been outpouring reactions from well meaning Nigerians who believe proactive steps need to be taken in order to stem the ugly tide. Latest in the fray of reactions is renowned economist and former Nigeria’s minister of Finance, Dr Kalu Idika Kalu. Dr. Kalu, a very reticent elder-statesman holds a doctorate degree in Economic Development and Public Finance (UW–Madison) and is a Yale Stimson Fellow. In a post on his facebook wall, the septuagenarian said when Managing director of the International Monetary Fund (IMF), Ms Christine Lagarde paid a four day visit to Nigeria early in President Buhari’s administration, it was plausible that Nigeria, through negotiations with Fund, could cover up to 80% to 85% of the projected revenue impact from the over 70% decline in the oil price. He stated further in his opinion that with additional resources from such other institutions as the World Bank and the AfDB, as complement to Nigeria’s own resources, the country should have managed to keep the equilibrium between the demand and the supply of foreign exchange in 2016. He believes such initiative will not only have prevented the precipitous drop in the Naira exchange rate, but could even have strengthened the Naira by improving our reserves level as oil prices improved moderately, and as recoveries from looted funds, gains from the single treasury account and other fiscal changes took effect. Here is the full text culled from his facebook wall which was published on Saturday night, August, 7, 2016: ”There was a recent comment in a Nigerian internet forum on the further depreciation of the Naira to 400 to the Dollar and 510 to the Pound and the prospect of even further declines. ”It is rather distressing that we have opted to repeat the mistakes of thirty years ago. When Largarde visited very early in this administration, it was plausible that Nigeria, through negotiations with Fund, could cover up to 80% to 85% of the projected revenue impact from the over 70% decline in the oil price. With additional resources from such other institutions as the World Bank and the ADB, as complement to Nigeria’s own resources, we should have managed to keep the equilibrium between the demand and the supply of foreign exchange in 2016. ”This will not only have prevented the precipitous drop in the Naira exchange rate, but could even have strengthened the Naira by improving our reserves level as oil prices improved moderately, and as recoveries from looted funds, gains from the single treasury account and other fiscal changes took effect. ”By adopting the policies we’ve been following, we have unduly constrained the availability of foreign exchange, put pressure on domestic prices as inflation has increased, and have limited the capacity of the real sectors to produce and create jobs. Further more, the cost of capital , the rate of interest has gone up, limiting both the volume and increasing the cost of credit to all productive sectors!!!! ”What needs to be noted is that as long as these policies are not changed, there is no guaranteeing any finite level of depreciation of the Naira value with respect to any of our trading currencies. We should realise that it is for the purpose of addressing these unexpected deep and sharp decline in export commodity prices that these facilities were set up in the first place. This is the primary substance of the discussion that Largarde expected to have with the new administration. Rather, we were “happy” to observe that she said she did not come to give Nigeria any loan. ”This is the same position we were thirty years ago!!!! As a result, instead of the Naira improving in its relative value from the onset of this administration, we have watched, seemingly helplessly, using trial and error fiscal and monetary policies, mostly draconian and flagrantly against the run of market conditions, resulting in the drop from about 197 to now 400 in the value of the Naira in relation to the Dollar. Even with the continuing uncertainty, it appears that government is not disposed to considering alternative policies. ”The sheer volume of such capital assistance is indicative of the normal use of such funds by many countries both developing and developed. The IMF alone disburses about 25 billion Dollars annually. These funds are designed to bridge the resource gap such as the one the Nigerian economy is currently facing. These funds are invariably very concessionary in their terms e.g. low interest, adequate grace period, and long term repayment. ”As a consequence of such low conditions, such funds are in fact usually rationed among member countries. It is not true that the financial institutions ” push” such loans. The real issue is that they are provided under the condition or the so called conditionalities that the recipient member country will dutifully implement the remedial policies that would correct the domestic imbalances that created the need for such request for assistance in the first place. The need for CHANGE is self evident!!!!!!” http://dailypost.ng/2016/08/07/former-finance-minister-idika-kalu-reacts-incessant-decline-naira-value/ |
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celestialAgent: No vehicle manufacturer the world over produces all of its parts. They import from different manufacturers from various countries. check your vehicle parts if you have one to confirm. |
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KingRex1:go build your own and have answers to your questions, bad belle |
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denkyw: Half? 0.001% of his brain would have been ok for him but his skull can't even accommodate that percentage! |
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Mylove55: Block head its your turn to show us your prowess. |
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