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Nairaland Forum / Nairaland / General / Politics / Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued (19074 Views)
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Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by PassingShot(m): 12:48pm On Jan 30 |
A lot of Nigerians still believe that Buhari failed woefully while a few of us think differently. Here is a portion of an interview where the former president refused to bow to IMF in their call for him to devalue the local currency alluding t what could be the consequences of such action. Despite all the challenges his government faced, he managed to leave the naira at around N600 to a dollar in May 2023. Fast forward to seven months after his exit, our currency has plummeted against the dollar to around N1450 on the back of devaluation, recording new low on daily basis. As a result, inflation, insecurity and other vices are on the increase to the extent that no one can predict how the current vicious cycle would end. Surely, the man Buhari is too patriotic for Nigerians. We most times do not know our true friends. https://www.youtube.com/watch?v=KIJXtpILkFE?feature=shared 37 Likes 8 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by solmusdesigns: 1:00pm On Jan 30 |
My question is would you as a Dollar earning freelancer rather sell your had earned dollar for 1300 or for 600 Which favors you As a Yahoo boy, will you rather trade your gift card for 1300 or 600 As a Nigerian in Diaspora, will you rather send your family building your house at 1300 or 600 Let's not decieve ourselves, Nigeria produces everything we use, only that it's fake and substandard . 28 Likes 3 Shares
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Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Emusan(m): 1:19pm On Jan 30 |
PassingShot: And the same few didn't think differently when GEJ was there. dollar only increased about 35% throughout GEJ while the same Buhari you unpatriotic and the real enemies of Nigeria( yet claiming to be the most patriotic and lover of Nigeria) think differently for increased dollar with whooping 247% So if the man Buhari is too patriotic for Nigerians with an increment of over 240%, what will you call GEJ who held dollar under 40% increment? 208 Likes 17 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by PassingShot(m): 1:38pm On Jan 30 |
Emusan:Check your figures and come back with the right ones. 12 Likes 5 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by PassingShot(m): 1:39pm On Jan 30 |
And no need to be agitated unnecessarily 1 Like |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Emusan(m): 1:40pm On Jan 30 |
PassingShot: Nothing to check, you can confirm rather! 70 Likes 6 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Bobloco: 1:40pm On Jan 30 |
Emusan: Tinubu is about to dwarf that record by increasing dollar by over 1000% in his first four years 75 Likes 4 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Emusan(m): 1:44pm On Jan 30 |
Bobloco: Presently, Tinubu is already at 94% increment in less than 9months. Thou, the certificate forger can't take it to 1000%. 56 Likes 7 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by seunlayi(m): 1:46pm On Jan 30 |
Are we to conclude that our current leaders are dumb? I also read something about Emefiele warning against floating the ₦. To me, yes they are. 16 Likes 1 Share |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Tallesty1(m): 1:46pm On Jan 30 |
solmusdesigns:Lols. If you sell your dollar at 1300 or 600 makes not much difference. A bag of rice when we were selling at 600 was around 20k, now we are selling at 1300 and a bag of rice is 55k.. You will have more naira with lower purchasing power if you sell at 1300. You will have fewer naira with higher purchasing power if you sell at 600 62 Likes 6 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Bobloco: 1:46pm On Jan 30 |
Emusan: But be rest assured that Tinubu will beat Buhari's 247% eight year record in four years 16 Likes 1 Share |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Kay25(m): 1:48pm On Jan 30 |
He didn't devalue naira yet was subsiding with heavy amount ..what a waste leave it floated lets go to rethink our ways then we will know what to do 14 Likes 4 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by GreatAchiever1: 1:48pm On Jan 30 |
Emusan: It's funny how even till now, people see Buhari as a hero and GEJ as a villain. Nigerians as a whole gave me a reason not to take interest in anything politics. 34 Likes 2 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by jmoore(m): 1:48pm On Jan 30 |
Coming from a Tinubu supporter. You guys are funny. Those that voted for Tinubu are 'accomplice' in this devaluation. You must love your Tinubu, by fire by force. It is too early to wail. Vote for Tinubu again till 2050. 32 Likes 5 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by LibertyRep: 1:48pm On Jan 30 |
The Naira is in a free fall. ...and they said this man is a master strategist. 16 Likes 2 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by CalabarPikin: 1:49pm On Jan 30 |
As this government d favour me and my family, make e follow favour others out there, but u see this dollar thing eeh....it's sweeting me...😁😁 2 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by iCauseTrouble: 1:49pm On Jan 30 |
This government will favour me and my family 1 Like |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by abhosts(m): 1:49pm On Jan 30 |
Here are the Naira Devaluation Rates at the Parallel Markets under different Presidents since 1999: Olusegun Obasanjo 1999 ₦90 = $1 2007 ₦125 = $1 38 Percent Devaluation in 8 Years Umaru Musa YarAdua 2007 ₦125 = $1 2010 ₦150 = $1 20 Percent Devaluation in 3 Years Goodluck Jonathan 2010 ₦150 = $1 2015 ₦220 = $1 46 Percent Devaluation in 5 Years Muhammadu Buhari 2015 ₦220 = $1 2023 ₦740 = $1 236 Percent Devaluation in 8 Years Bola Tinubu 2023 ₦740 = $1 2024 ₦1,470 = $1 98 Percent Devaluation in 8 months Buhari is no hero so stop trying to make him one. 48 Likes 7 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by VeeVeeMyLuv(m): 1:49pm On Jan 30 |
Emusan:Sure he will take it there He doesn't have a shred of conscience 5 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by jeff1993: 1:51pm On Jan 30 |
I hope as a Dollar is equal to 1400 naira, E dey favor those Useful idiaaats and their families. 11 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Judolisco(m): 1:52pm On Jan 30 |
Buhari did not only fail.... He should be studied in sch... How to crash the economy of a country in 8 yrs 11 Likes 3 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by SenecaTheYonger: 1:52pm On Jan 30 |
Lmao. When Balablu is done with us, we will see Buhari as the greatest economist 11 Likes 1 Share |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Akwamkpuruamu: 1:52pm On Jan 30 |
Buhari and Tinubu are opposite sides of same coin 1 Like |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by ClearFlair: 1:53pm On Jan 30 |
APC is a disaster 5 Likes 2 Shares |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by SisterAnn(f): 1:54pm On Jan 30 |
Things escalated quickly for the worse in this dispensation because tinubu was in a hurry to be seen as working, courageous and a man with a lot of guts. He most especially needed to shift attention from the manipulation that brought him to power, coupled with a checkered credential that made headlines on international media on a regular basis. For things to shift grounds, Nigeria must be led by someone with a lot of guts and the political will to step on toes. A few people have hijacked the destiny of this country and until a Daniel is come to judgement, the grip only gets stronger. 10 Likes |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by morikee: 1:54pm On Jan 30 |
Throw Back |
Re: Buhari Foresaw What Would Happen To The Naira And The Economy If He Devalued by Akwamkpuruamu: 1:55pm On Jan 30 |
Kay25: Eight months gone, you are still rethinking your ways 6 Likes 2 Shares |
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