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Nairaland Forum / Nairaland / General / Politics / Senate To Invite Emefiele Over Naira Devaluation (46586 Views)
New Naira Policy: Gbajabiamila Faults Buhari, Emefiele Over CBN Policy / Toyin Badmus: Iyaloja Of Abuja Calls Out Emefiele Over Naira Scarcity (Video) / 35 State Governors Invite Godwin Emefiele Over Naira Redesign, Withdrawal Policy (2) (3) (4)
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Re: Senate To Invite Emefiele Over Naira Devaluation by Dim08: 8:51pm On Jul 27, 2022 |
TheOldGods: Your maths was wrong! You cannot compare someone who earns in dollar and spend in naira with someone who earns in naira and spend in naira too. Time value of money comes to play. While one may work 4 hours per day and earn N4,000 at N1,000 per hour. The other will work same 4 hours and earn $60 per day at $15 per hour. The difference is the time value of money. The other will work 9-5 to earn 2 Likes |
Re: Senate To Invite Emefiele Over Naira Devaluation by Lordpet: 8:53pm On Jul 27, 2022 |
I know what to say again |
Re: Senate To Invite Emefiele Over Naira Devaluation by Greatpooss(m): 8:54pm On Jul 27, 2022 |
We're really enjoying this government, the target is $1 to #1,000. Sai Baba and APC till 2050! |
Re: Senate To Invite Emefiele Over Naira Devaluation by omoharry(f): 9:02pm On Jul 27, 2022 |
All you APC sai Baba blind Bat , how market ? Hope you are all enjoying the change you all voted for ? Sey you guys are still following the yeye Tinubu that sold this idiotic president to us ? Now he want to come and rule Nigeria again and guy blind Bat and still ready support him just like you voted in this useless mistake we call our president. Shame on all of you APC blind Bat. May the hardship other Nigerians are experiencing in this country be a double fold for you guys and your house hold . |
Re: Senate To Invite Emefiele Over Naira Devaluation by chikevictor(m): 9:08pm On Jul 27, 2022 |
By 2023 if you type Nigeria in Google it will no longer be there, this wicked Govt has finished Nigeria but God dey. |
Re: Senate To Invite Emefiele Over Naira Devaluation by Mikeiron78(m): 9:14pm On Jul 27, 2022 |
I thought it was the speculations from the AbokiFX that was making it going up, see now. Think about who you have in power, most of them have no college degrees and those who do, paid for it. Demand and supply, bribing in USD and the USD is actually stronger right now, the reason it is more than the EUR |
Re: Senate To Invite Emefiele Over Naira Devaluation by halfcurrent(m): 9:18pm On Jul 27, 2022 |
kk2027: This sounds like a threat oo..� |
Re: Senate To Invite Emefiele Over Naira Devaluation by Nobody: 9:18pm On Jul 27, 2022 |
Dim08: He is talking about spending and getting value. If 1 dollars is 700 100 dollars will be 70k That 70k will be exhausted in the market because of inflation 1 Like |
Re: Senate To Invite Emefiele Over Naira Devaluation by Cognitivereason: 9:42pm On Jul 27, 2022 |
Everlastingson: oga forget stealing...are you saying anambra politicians didnt steal during Obi's time..we are talking about what will help reduce the devaluation of naira ..ur talking of stealing... as far as am consigned naira is directly dependent on a strong export value and buoyant foreign reserve.. Abacha looted Nigeria dry..yet his tenure witnessed inflation dropping from 53% to 8% and a massive pump in the foreign reserves by over 400%... you dull folks need to wake up to see that managing and saving money like what Obi did in anambra isnt what is going to save our economy...reducing the cost of governance is not what bring an emergency fix to our economy...looking at what eygpt, vietnam and the rest did isnt going to solve it either..the emergency solution to our economic crises for now is to BRING BACK OUR REFINERIES AND BAN FUEL IMPORTS!! |
Re: Senate To Invite Emefiele Over Naira Devaluation by Cognitivereason: 9:47pm On Jul 27, 2022 |
anigbajumo:if we have to borrow on his behalf..it is welcomed getting Dangote refinery to work with end fuel importation, end fuel scarcity, stabilize the forex market, end bad or adulterated fuel, save a whooping 25% of our foreign reserves... inshort we can say good buy to fuel shortages for life if government now opens port Harcourt refinery...the advantage by far supersedes any disadvantage which ofcourse transferring FG revenue to him... we need that refinery now! |
Re: Senate To Invite Emefiele Over Naira Devaluation by Cognitivereason: 9:56pm On Jul 27, 2022 |
okeysoninv:they are not telling you lies either for example..in 2020..we imported $52bn worth of goods but only exported $42bn worth of goods of which 90%is crude oil.. can you see the imbalance.. why wont you have a starve foreign reserve https://oec.world/en/profile/country/nga?flowSelector1=flow1&yearlyTradeFlowSelector=flow1 |
Re: Senate To Invite Emefiele Over Naira Devaluation by ibinaboonline: 10:03pm On Jul 27, 2022 |
Him wan run for president. No be abokifx cause am again? |
Re: Senate To Invite Emefiele Over Naira Devaluation by okeysoninv: 10:06pm On Jul 27, 2022 |
Cognitivereason:another useless lie. Nigeria exports 1.3 barrels a day multiply by 365days that's is about 500million barrels multiple it by 105dollars you are get close to 50b dollars. that's for crude oil. then gas 35b cubic meters a Price of cubic meters of gas is 2usd. you are getting 70b USD. then non oil exports you can find the figures. finally add 20b USD remittances. total dollars revenue is more than 150b USD .where is the money? emefiele need to answer. 3 Likes |
Re: Senate To Invite Emefiele Over Naira Devaluation by kayperry: 10:25pm On Jul 27, 2022 |
GeneralPula: More like a beer parlor analysis , if you say foreign reserve is the bedrock of any nation's currency i agree buh that yahoo boy tale is crap. Whatever earning yahoo boyz can fetch our country can never be compare to earning from productive & exportation, One of the major reasons our naira keeps falling like evening newspapers tit is because we are not a producing nation we import almost everything and about 90% of foreign income goes back into importation of refined oil and loan servicing, over 50% of naija forex goes into importation of crude oil alone, imagine the effect if we can own a refinery n the stop importation. the more accumulation in the foreign reserve the stronger the naira 5 Likes |
Re: Senate To Invite Emefiele Over Naira Devaluation by Cognitivereason: 10:34pm On Jul 27, 2022 |
okeysoninv: dollar revenue has never reached 80bn USD.. you are forgetting that the exponential rise in crude oil export value will directly lead to the rice in the value of imports specifically petroleum product as we use the excess dollars to now pay for the rise in cost of fuel.. and please this is not the issue or add and subtract. provide links that backs ur multiplication and division.. Nigeria's export has never exhided 60bn USD except you want to argue with the world bank, world trade organisation, OEC, tradingeconomics, PWC and the likes that report similar things https://www.worldstopexports.com/nigerias-top-10-exports/ https://globaledge.msu.edu/countries/nigeria/tradestats https://wits.worldbank.org/CountryProfile/en/NGA |
Re: Senate To Invite Emefiele Over Naira Devaluation by anigbajumo(m): 10:36pm On Jul 27, 2022 |
Cognitivereason: You are right but this government won’t do anything on that PH refinery but the only viable option for now is dangote refinery. You can’t borrow for an individual at the detriment of over 200mllion people no matter the advantages. |
Re: Senate To Invite Emefiele Over Naira Devaluation by cosmatika(m): 10:36pm On Jul 27, 2022 |
thebosstrevor1:The agbado man u re supporting said he's not worried about exchange rate, y are u now lamenting? Your brain go soon reset |
Re: Senate To Invite Emefiele Over Naira Devaluation by GalaxiesCakesPo: 10:43pm On Jul 27, 2022 |
This is Serious |
Re: Senate To Invite Emefiele Over Naira Devaluation by okeysoninv: 10:43pm On Jul 27, 2022 |
Cognitivereason:hope you can make use of your Google and arithmetic very well . nigeria is currently exporting 1.4m barrels per day multiply it by 365 day. one barrel is 108 Bonny sweet crude that's 55b USD. Nigeria is exporting 38b cubic meters of gas years multiply it by 3usd that a price for 1, cubic meter of gas. you are getting nothing less than 100b USD. the other exporting minerals and agriculture plus finish products are not included. disprove it with a verifiable figure that Nigeria is not exporting 1.4m barrels per day or the gas is not 38 billion cubic meters. Emefiele holds the answer for where they are keeping the Dollars earned from resources taken from Nigeria to.
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Re: Senate To Invite Emefiele Over Naira Devaluation by Hearme(m): 10:45pm On Jul 27, 2022 |
samabiodun: That is APC's Next level. Continuity is on the way but may God Almighty and Nigerians stop this wicked type of continuity 1 Like |
Re: Senate To Invite Emefiele Over Naira Devaluation by Loner444: 10:54pm On Jul 27, 2022 |
Rahkman: Do I need a domiciliary account before I can fund my account? I just opened an account and I realized the betting currency is USD. Please how do you fund yours? |
Re: Senate To Invite Emefiele Over Naira Devaluation by kayperry: 10:56pm On Jul 27, 2022 |
cococandy: wow ! i said that, must have been the alcohol |
Re: Senate To Invite Emefiele Over Naira Devaluation by Basicend: 11:09pm On Jul 27, 2022 |
chuksanambra: God bless you. .na just street deposit huzzler at Zenith Bank. . So clueless like his master. |
Re: Senate To Invite Emefiele Over Naira Devaluation by Cognitivereason: 11:15pm On Jul 27, 2022 |
anigbajumo: even when what your borrowing to fund is the hope of over 200 million people? .. do you see any means of Nigeria producing fuel if it not through Dangote?.. It either Dangote refinery, it petrochemical and fertilizer plant together will save atleast 30% of our foreign exchange or we continue to suffer Port Harcourt refinery is under complete overhaul as I type |
Re: Senate To Invite Emefiele Over Naira Devaluation by Cognitivereason: 11:22pm On Jul 27, 2022 |
okeysoninv: no body asked you to screenshot what we produce and it quantity as well as price.. exports and imports are not straightforward arithmetics of adding and multiplying otherwise that your figure is what will be globally reported... show me screenshot of any renowned auditing firm that reports $150bn forex gains annual.. you are free to post any year ..in short go as far as fetching data from Obasanjo and GEJ tenure, when Soludo, Sanusi were CBN governors, fetch the data as at when Okonjo Iweala was serving finance minister since you think the problem is Buhari and Emiefele... there were even years during GEJ were Oil hit $100/ba and we produced 1.8 million barrels per day at some point 2.2 million...fetch me any evidence that analyst just punched casio calculated the multiplied it to give you over $150bn including gas exports just prove to me that any renowned business and economic analyst, newspaper or firms including Bloomberg, world trade organisation, Reuters, OEC, Statista, NBS..etc report Nigeria's export in excess of 70bn USD in any year I will take you seriously when you show me proof I am waiting 1 Like |
Re: Senate To Invite Emefiele Over Naira Devaluation by okeysoninv: 11:34pm On Jul 27, 2022 |
Cognitivereason:I believe you are educated , the figures are there for you to see . maybe I should take you back to primary school . what I gave you is the total amount earnings collected by companies mining crude oil and gas in Nigeria. you can see there is enough dollars in the figures. yours is more of govt revenue and royalties collected by the government. it's has nothing to do with foreign exchange earning. a good working CBN should have mandated the oil companies to sell their Dollar exchange earnings to them by some percentage. we could have had enough foreign exchange in the market. this is nothing to argue about. Nigeria has no business to lack dollars when exports and remittances is close to 200b USD you can as well take a look . shell cooperation earns $20b in Nigeria last year alone .https://www.google.com/url?q=https://guardian.ng/business-services/shell-declares-20-1b-profit/&sa=U&ved=2ahUKEwix_KGllZr5AhUCOuwKHRtlBzgQFXoECAEQAg&usg=AOvVaw0mauJlYa7DWNT3sAhCSXeV |
Re: Senate To Invite Emefiele Over Naira Devaluation by kabasa24: 11:55pm On Jul 27, 2022 |
we are almost there |
Re: Senate To Invite Emefiele Over Naira Devaluation by Cognitivereason: 11:58pm On Jul 27, 2022 |
okeysoninv:first, there is no figure there for me to see second, your screenshot doesnt contain anything referring to the earning of crude oil and gas companies. third, you are confused as I have never mentioned anything related to government revenue neither do my links lead to anything related to revenues but foreign exchange earnings through exports forth, Nigeria has never recorded 200bn USD worth of export earnings... if you think so show me proof where it was clearing stated Nigeria earned 200bn USD forex through exports otherwise go to sleep my friend. 1 Like |
Re: Senate To Invite Emefiele Over Naira Devaluation by SupremeSpecimen: 12:02am On Jul 28, 2022 |
orikoku: Buy two ashawo's n put am for street In six months you'll have 5 million Two things inflation can't touch; sex n alchohol |
Re: Senate To Invite Emefiele Over Naira Devaluation by gfelo(m): 12:02am On Jul 28, 2022 |
Even if they make 1 dollars equal 5k, naija ho still dey find dollars |
Re: Senate To Invite Emefiele Over Naira Devaluation by okeysoninv: 12:04am On Jul 28, 2022 |
Cognitivereason:this is from shell cooperation profit last year alone. a total of $20b . why is CBN not tapping into foreign exchange earnings by companies operating in Nigeria. Emefiele needs to answer this https://www.google.com/url?q=https://guardian.ng/business-services/shell-declares-20-1b-profit/&sa=U&ved=2ahUKEwix_KGllZr5AhUCOuwKHRtlBzgQFXoECAEQAg&usg=AOvVaw0mauJlYa7DWNT3sAhCSXeV by the time you cumulate other companies earning foreign currencies in Nigeria you will see we have more dollars than naira in this country. the evil people in APC won't allow Nigeria flourish because of their selfish interest. |
Re: Senate To Invite Emefiele Over Naira Devaluation by Kingofhoes: 12:05am On Jul 28, 2022 |
Exkandayee:You're so ignorant boss and it's not an insult. You don't know that as the dollar price increases so will the prices of the building materials,? |
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