Artscollection:


They are still defending your currency if you are still naive,pop out and understand the game and dont be emilikon that has never run a private business b4 joining politics
The reason why most multinationals left was because of sudden naira devaluation.

Tinubu run what we call corporation, u can Google it, I don't have interest to explain that

richmond500:
he got if from a telegram group that shares porn videos. Just ignore what he said.

mrvitalis is just busy throwing figures around. If the naira true value is #2500/$, with the very poor intervention by the CBN under Cardoso, Aboki will be selling above 2400/$ by now

phantom:


Naira depreciation actually but you are correct. It was why I asked him about production. He said we should forget production first. 😂

Naira devaluation by emilikon lead to naira depreciation.

phantom:


Okay, now i understand your confusion! Ogbeni, in the strict sense WE DID NOT DEVALUE OUR CURRENCY... our currency has always been OVERVALUED .. we simply stopped propping our naira up with our reserves 😂

What we have essentially is a DEPRECIATION! 😂

Your naira is simply floating up to its real value , a value that represents our current productive capability.

Peter Obi, like many others simply used the term DEVALUATION loosely to describe the ongoing depreciation from floatation. Please forgive him. 😂 🙏🏾

So in that strict sense, deliberately devaluing your currency then borrowing to revalue it is senseless!

na just this part I deh try tell ona since, all other things discussed here was secondary.
Obi was wrong, that is what I wanted to say.

Also, I am not sure if our currency has been overvalued, rather I'll say it was stable cos we actually pegged it to USD all these while, also depreciation and devaluation are two different things, this wicked govt deliberately devalued the currency like 4 times bruh, it was not just depreciation.

Obi should have known that the currency was devalued, so his assertion on borrowing was flawed and shows he has no knowledge of economy of a country.

richmond500:
na just this part I deh try tell ona since, all other things discussed here was secondary.
Obi was wrong, that is what I wanted to say.

Also, I am not sure if our currency has been overvalued, rather I'll say it was stable cos we actually pegged it to USD all these while, also depreciation and devaluation are two different things, this wicked govt deliberately devalued the currency like 4 times bruh, it was not just depreciation.

Obi should have known that the currency was devalued, so his assertion on borrowing was flawed and shows he has no knowledge of economy of a country.

That's why I'm trying to say. Peter Obi like many of us used the term DEVALUED loosely but don't be decieved the man understands the exact problem.

What you are hammering on is simply a misuse of terms. Our currency is DEPRECIATING FROM FLOATATION.

Obi knows the exact problem! His solution is not off point at all. He is simply talking about borrowing to keep the naira at a level at which production IS STILL POSSIBLE.

phantom:


That's why I'm trying to say. Peter Obi like many of us used the term DEVALUED loosely but don't be decieved the man understands the exact problem.

What you are hammering on is simply a misuse of terms. Our currency is DEPRECIATING FROM FLOATATION.

Obi knows the exact problem! His solution is not off point at all. He is simply talking about borrowing to keep the naira at a level at which production IS STILL POSSIBLE.

external debt also causes depreciation.
Even if he knows that the currency is depreciating, he should know that external debt causes depreciation further, he is not solving the problem but adding to the problem when he borrows.

Abeg leave am, the man no know wetin him deh talk.

mrvitalis:

Stability of an exchange rate is the fundamental thing needed for economic development

It's what build trust on the currency trust

Trust is the most valuable thing of an economy

Does the borrowing solve the problem in the long run? Why keep defending the naira with a borrowed fund? For how long will you continue to borrow to defend the naira?

badoh:

Does the borrowing solve the problem in the long run? Why keep defending the naira with a borrowed fund? For how long will you continue to borrow to defend the naira?

Stability is needed for economic growth

Peter Obi only understands containers economy. He is suggesting the same method that he brought the country on his knees.

President Obasanjo left a gross reserve of $43.13 billion, comprising the CBN’s external reserves of $31.5 billion, $9.43 billion in the Excess Crude Account, and $2.18 billion in Federal Government’s savings in May 2007.

The reserve peaked at $62 billion in September 2008 under Yar’Adua when crude prices rose to $147 per barrel before falling to $31.7 billion in September 2011 as the Central Bank of Nigeria had to use much of it to defend the Naira, following the 2008-2009 global financial meltdown.

mrvitalis:

Stability is needed for economic growth

Nobody is arguing that, but will u borrow to defend a devalued or depreciating currency?

richmond500:
Nobody is arguing that, but will u borrow to defend a devalued or depreciating currency?

How else would you do it

mrvitalis:

How else would you do it

what? U guys just defend Obi blindly.
Economy diversification and raising interest rates are some of the ways to solve currency depreciation .

The main reason for depreciation of a currency was debts and to salvage the problem you should avoid debts.
Obi says he will aquire more debt to solve the issue? And u see nothing wrong in that?
Jesus Christ.

richmond500:
what? U guys just defend Obi blindly.
Economy diversification and raising interest rates are some of the ways to solve currency depreciation .

The main reason for depreciation of a currency was debts and to salvage the problem you should avoid debts.
Obi says he will aquire more debt to solve the issue? And u see nothing wrong in that?
Jesus Christ.

Don't rush and brush over serious points

Economic diversification? How can you break this town let's start from there

mrvitalis:

Don't rush and brush over serious points

Economic diversification? How can you break this town let's start from there

before I go further, do u agree that Obi idea of borrowing to save a depreciating currency is a very stupid idea?
If u answer this question, then I'll know u are smart enough for my answers on economy diversification

mrvitalis:

Don't rush and brush over serious points

Economic diversification? How can you break this town let's start from there

😂 😂... I'm looking foward to this too

richmond500:
before I go further, do u agree that Obi idea of borrowing to save a depreciating currency is a very stupid idea?
If u answer this question, then I'll know u are smart enough for my answers on economy diversification

Ogbeni, leave Peter obi and answer his question. Let's all discuss logically. Like I told kobojunkie yesterday, I would love to understand your own solutions.. break them down.

richmond500:
Seriously, except carrying his own luggage in airport and getting sympathy votes, Obi hasn't shown anything that will logically qualify him as a presidential material. This is not me hating.
Recently Obi idea of saving our currency was to borrow, I think the idea of borrowing money to save money is a very stupid move. Tinubu policies was far better than Obi idea.
The problem I have with Tinubu is that he is heartless, don't give me the shit about how his policies will only bring temporary pain and we will smile at the end, that's bullshit.

The policies are the kinds that could be executed by a devil. Giving us gbas gbos on a steady is a move that can cause a permanent scar, even though the injury could be temporary, but it could force lots of Nigerians to go through depression, and even if the problems are solved, once u go through depression, u could never get ur sanity back.
The heartless policies from Tinubu is something that should be implemented once at a time for 10yrs, so we can easily deal with shock but, giving us all these in 1yr and 6months is white wickedness.

That being said, though the policies are bizzare, heartless and black but they are way better than what Obi said, Obi policy was never a solution, rather it was to shift the problem to the future which will be detrimental to the country..

No insult me abeg, no be everytime I deh make use of my home training.

So u are not concerned about tinubus corruption...

phantom:


Ogbeni, leave Peter obi and answer his question. Let's all discuss logically. Like I told kobojunkie yesterday, I would love to understand your own solutions.. break them down.

The thread was about Obi, why should I leave Obi? Why would u dodge the main topic? Answer my question, then I'll tell u how I plan to tackle economic diversification even though it's not what this thread is meant for, I'll deviate a little just to massage ur ego, do u agree Obi idea was stupid?

bigpicture001:


So u are not concerned about tinubus corruption...

The topic was on how to salvage naira depreciation. I have deviated alot already. I'll now stick to the topic.

richmond500:
before I go further, do u agree that Obi idea of borrowing to save a depreciating currency is a very stupid idea?
If u answer this question, then I'll know u are smart enough for my answers on economy diversification

Bros no need to rush into conclusion how can I come to that conclusion when u don't even understand ur point

I am trying to understand you and your alternative

You said Economic diversification... Fine I said how break this down lets analyze it

richmond500:
The thread was about Obi, why should I leave Obi? Why would u dodge the main topic? Answer my question, then I'll tell u how I plan to tackle economic diversification even though it's not what this thread is meant for, I'll deviate a little just to massage ur ego, do u agree Obi idea was stupid?

No wahala. To make you you happy and because I really want to read your own solutions.. obis idea was stupid. Oya, answer.. Economic diversification.. how will you do it?

mrvitalis:

Bros no need to rush into conclusion how can I come to that conclusion when u don't even understand ur point

I am trying to understand you and your alternative

You said Economic diversification... Fine I said how break this down lets analyze it

Don't worry. I've agreed. Obi was stupid. Oya, Let him enlighten us 😂

mrvitalis:

Bros no need to rush into conclusion how can I come to that conclusion when u don't even understand ur point

I am trying to understand you and your alternative

You said Economic diversification... Fine I said how break this down lets analyze it

The question is "is it a wise or foolish idea to borrow money and defend a depreciating currency?
The question is easy, if u can't understand this, then u can't possibly understand my explanation on economy diversification.

phantom:


No wahala. To make you you happy and because I really want to read your own solutions.. obis idea was stupid. Oya, answer.. Economic diversification.. how will you do it?

let mrvitalis agree to this too. U are not the one that asked me the question, remember?

richmond500:
The question is "is it a wise or foolish idea to borrow money and defend a depreciating currency?
The question is easy, if u can't understand this, then u can't possibly understand my explanation on economy diversification.

Please stop being evasive under very silly excuses. Explain yourself. I know you to be far more sensible so please stop being funny and let's discuss. For once, I'm on a thread not started by a riff raff like helinues so make it worth our while abeg 😂

phantom:


Please stop being evasive under very silly excuses. Explain yourself. I know you to be far more sensible so please stop being funny and let's discuss. For once, I'm on a thread not started by riff raffs like helinues so male it worth our while abeg 😂

don't worry, I have my answer and it's the best u can ever hear.
But I want mrvitalis to admit that Obi idea of acquiring debt to defend currency depreciation is a very stupid move.
I'll explain my point, but I have a reason why I need him to admit.
If he is scared of admitting then I am not interested in derailing this thread.
He is scared that his so called messiah is nothing but a scam. Lolz

helinues:


Mynd44
Oam4j
Nlfpmod
Fergie001
Mukina
Dominique
Seun

Why have you been allowing this fellow to be attacking me even on threads which I am not interested in? Yet to make a single comment on this thread yet this guy started calling me names

Please leave this thread... this is way beyond your paygrade. And I can call you anytime I want to use you as an example of what every young man shouldn't be.

Please leave this beautiful thread let sensible folks discuss.

richmond500:
The question is "is it a wise or foolish idea to borrow money and defend a depreciating currency?
The question is easy, if u can't understand this, then u can't possibly understand my explanation on economy diversification.

You haven't given me any reason to justify it as a foolish idea... Absolutely nothing

You only made bogus statement and I'm asking you to defend and you are here asking me to conced Obi idea is foolish when you haven't provided a reason to say that

Improve local production, is this present government not doing it?

Easier said than done.

You know to salvage this problem of Nigeria is not even 4 years work, you know that deeply but we've all tagged the present government a failure.

It's hard but let give it time.

mrvitalis:

Firstly there is no other solutions to Nigeria present economic pitfall than to borrow... Absolutely not

The issue is what you do with the borrowed money that's the Koko

When obi talk about defending the naira by directly investing in the People... That's is the fundamental way of currency defending

1) you reduce demand by improving local production on import substitute

2) you increase supply by funding export potential business

With a currency devalued to a manageable figure you would have a stable economy in max 18 months

Not exchange rate is never a factor but stability of exchange rate

Obi has been consistent since his debate with Osibanjo in 2019

richmond500:
don't worry, I have my answer and it's the best u can ever hear.
But I want mrvitalis to admit that Obi idea of acquiring debt to defend currency depreciation is a very stupid move.
I'll explain my point, but I have a reason why I need him to admit.
If he is scared of admitting then I am not interested in derailing this thread.
He is scared that his so called messiah is nothing but a scam. Lolz

Please, leave all this cho cho cho... he asked you a direct question. If you can't answer, just say so and stop insulting folks who genuinely want to engage with you by asking irritating questions.