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Nairaland Forum / Nairaland / General / Business / Rencap Predicts Further Naira Devaluation (23316 Views)
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Re: Rencap Predicts Further Naira Devaluation by arsetalks(m): 2:47pm On Jun 01, 2015 |
Mogidi:Provide a link with direct quote in which he promised parity and the time frame he gave. |
Re: Rencap Predicts Further Naira Devaluation by Nobody: 2:58pm On Jun 01, 2015 |
Dollyak:Nigeria is not even at a point where it produces to satisfy local consumption yet you are talking of the benefit of a devalued currency. Even in China and India where mass productions are made for export, there is thie scourge of "Cheap labour" when compared the take-home pay with the Dollar equivalent of an average Chinese worker. For Nigeria, what we need is Short, Mid and long term economic plan. In the short term, we must seek to strenghten the Naira so as to control our inflation and the buying power of our currency and cost of livelihood. We need to reach the stage where local production serves the economy and less dependence on import, we also need to reach the stage where our citizens can export some commodities abroad. Even at this stages, we need a strong NAIRA for the sake of our economy. Nigeria is not an export country like China neither do we aspire to be a fully exporting country where export is our mainstay. We already have mineral resources, all we need is to strenghten the manufacturing, Tourism, Agric and other sectors as well as put in place basic amenities. We are sure to be in the league of oil rich Middle Eastern states IF we do this. We also need a very strong Naira if we are to be in the league of Kuwait, Brunei Darusalem and co. As for apology, I don't think I owe you any! 4 Likes |
Re: Rencap Predicts Further Naira Devaluation by Lucasbalo(m): 2:58pm On Jun 01, 2015 |
Dollyak:Nigeria is worse than Greece economically. The only problem is that the worthless leadership Nigeria had was not truthful to the citizens. How do you explain the country borrowing hundreds of billions of dollars to pay the federal government employees ?. The naira was dropping value almost every day during the election period. The infrastructure is in a mess. The recurrent expenditure takes about 80%of the budget. There are no check and balances between the Executive and the Legislature. At least, Portugal is in EU . Do you think there is any economic giant to help Nigeria out of her predicament in West Africa ?. The situation in Portugal is bad because there leadership is an open book unlike the corrupt and cult leadership Nigeria had. |
Re: Rencap Predicts Further Naira Devaluation by adonismuller(m): 3:05pm On Jun 01, 2015 |
When Mr #1 to $1 is there? |
Re: Rencap Predicts Further Naira Devaluation by Dollyak(f): 3:11pm On Jun 01, 2015 |
barcanista:My last reply to you. Did I ever said we need poor currency? Go on and find it, don't understand your reasoning behind those your trash. Buy some sense to help with your poor comprehension skils. Oh yeah, an economist banking on ever depreciating mineral resources... seriously, go and read your book again. |
Re: Rencap Predicts Further Naira Devaluation by Dollyak(f): 3:16pm On Jun 01, 2015 |
Lucasbalo:With all due respect they are not comparable for millions of reasons. There is a reason we have a lot better ratings than Greece which is still seen as junks. Haa... Ask any economist they will tell you they are not comparable. P.s I am not economist, but my field intersect this. |
Re: Rencap Predicts Further Naira Devaluation by Nobody: 3:24pm On Jun 01, 2015 |
Dollyak:You plan with "every resources at your disposal". No where did I say you bank on your mineral resources. Madam you just de rant jare...hope you are fine tho |
Re: Rencap Predicts Further Naira Devaluation by Lucasbalo(m): 3:29pm On Jun 01, 2015 |
Dollyak:Sorry to disappoint you, Portugal situation is much better than Nigeria for so many reasons I can't go on to here for obvious reasons. I am in a financial field and I know of what I speak of. Portugal will not be an albatross on the neck of Europe . Germany, France and other wealthy EU countries will do anything for Portugal to survive because of their common good. Tell me any country in West Africa that can do that. Portugal is not a third world with all her financial ills while Nigeria is a third world country with an average citizen making less than $2 a day. Hopefully, things will get better for Nigeria. Enough said. |
Re: Rencap Predicts Further Naira Devaluation by Nobody: 3:31pm On Jun 01, 2015 |
Bros, e never bad like that na. We are yet to be at the level of Greece but with the way the economy is going, especially if the Buhari administration implement all its "laughable" social programs, Nigeria will not only surpass Greece within a record time but may never recover for decades. Nigeria need to fix the real sectors and provide basic amenities. We need to invest in capital projects. Our present system unfortunately discourages that. In fact, there should be system restructuring! Lucasbalo: |
Re: Rencap Predicts Further Naira Devaluation by Femistico(m): 3:36pm On Jun 01, 2015 |
Yahoo guyz don hammer again..no time |
Re: Rencap Predicts Further Naira Devaluation by Dollyak(f): 3:40pm On Jun 01, 2015 |
Lucasbalo:In terms of human development index yes, but not in overall economic terms. I respect your knowledge so I will agree to disagree Sir. AMEN to your prayer. |
Re: Rencap Predicts Further Naira Devaluation by Dollyak(f): 3:41pm On Jun 01, 2015 |
barcanista:we dey manage, you? |
Re: Rencap Predicts Further Naira Devaluation by Nobody: 3:46pm On Jun 01, 2015 |
Dollyak:"we"? Una plenty wey de use this moniker? Abi you be trinity? ![]() I'm fine sweete, thanks |
Re: Rencap Predicts Further Naira Devaluation by Lucasbalo(m): 3:46pm On Jun 01, 2015 |
barcanista:Barcanista, Greece is bad. No argument about that but the European Union won't let Greece go down the drain, that's why you see Angella Merkel, Hollande and other European Union leaders rose up to assist Greece. Nigeria is worse in the sense that her financial dealings are hidden in secret. Have always said that Nigeria is being run like a family business where corruption and nepotism is the order of the day. Have been to Lisbon and Lagos in Portugal and the infrastructure is world class. Dont tell me an average Portuguese makes $2 an hour talk less of a day like an average Nigerian. Love Nigeria since part of me is Nigerian, but the reality is, Nigeria has a long way to go. Portugal is in the midst of rich countries that can help her while Nigeria is in the midst of poor countries that cannot help themselves talk less about helping Nigeria. That's one thing Portugal has going for her. |
Re: Rencap Predicts Further Naira Devaluation by Lucasbalo(m): 3:50pm On Jun 01, 2015 |
Dollyak:Respect to you. You are a brilliant young lady. At least you are very civil unlike some unnamed people that resorts to name calling. I say what I say not because I loathe Nigeria, I love her to bits. Just want the country to be an Eldorado instead of a perpetual third world. |
Re: Rencap Predicts Further Naira Devaluation by Nobody: 4:07pm On Jun 01, 2015 |
Lucasbalo:I get your point but unlike Greece, we are not in such a pathetic situation yet though we are gradually moving towards that path. Nigeria has potentials to turn our fortunes around, but we are to first overcome useless structure of governance, bad leadership and corruption. We also must implement some of our laudable plans that only seem to be good on paper but suffers when it comes to implementation. We must zero the idea of feeding bottle system of "free money" in the name of social program because we are not yet at that level. We need productivity and sound fiscal policies. The ones that are in operation at the moment have neither magnitude nor direction. Nigeria cannot afford to crash, we need to start making good use of what we have. 1 Like |
Re: Rencap Predicts Further Naira Devaluation by Nobody: 4:21pm On Jun 01, 2015 |
Adesiji77: No worries PMB go soon make 1 Naira=1Dollar. |
Re: Rencap Predicts Further Naira Devaluation by Lucasbalo(m): 4:21pm On Jun 01, 2015 |
barcanista:Good points. |
Re: Rencap Predicts Further Naira Devaluation by lonelydora: 4:40pm On Jun 01, 2015 |
adeoti01: Yes so |
Re: Rencap Predicts Further Naira Devaluation by Originalsly: 4:46pm On Jun 01, 2015 |
Why would one compare Nigeria to Greece? Nigeria is not at that level....and even if it does get there due to mismanagement...corruption...whatever the reasons.....Nigeria has the potential...the people and the resources to build a ramp drive itself out of such a pit. Greece has only people as resources...and has fell to the bottom of the well. It can't come out on its own....and is constantly been thrown a lifeline by the EU...if not they perish....they are helpless and hopeless...Nigeria is neither. |
Re: Rencap Predicts Further Naira Devaluation by Dollyak(f): 4:53pm On Jun 01, 2015 |
Originalsly:God bless you. |
Re: Rencap Predicts Further Naira Devaluation by Blackfire(m): 6:35pm On Jun 01, 2015 |
barcanista: she sexymoma said, "the family of bacanista will soon barge in here, and start barking like a mad ravin imfectious dogs". Call me when they abuse u in strange language,nonetheless not your fan either |
Re: Rencap Predicts Further Naira Devaluation by Nobody: 6:49pm On Jun 01, 2015 |
Blackfire:Thanks bro... ![]() |
Re: Rencap Predicts Further Naira Devaluation by Igbo20(m): 7:39pm On Jun 01, 2015 |
pls don,t tell us u have just made emty promises to d ppl of dis great country. Is too early to start deny nig,s apc u better rise up to ur campan promises |
Re: Rencap Predicts Further Naira Devaluation by Fidecoo(m): 9:30pm On Jun 01, 2015 |
Ezenwammadu:ABEG HELP ME, ASK HIM/ DEM MY BRO. 1 Like |
Re: Rencap Predicts Further Naira Devaluation by Phboy1(m): 1:01am On Jun 02, 2015 |
How much did dollars trade for today in black market? |
Re: Rencap Predicts Further Naira Devaluation by chiedu7: 6:21am On Jun 02, 2015 |
![]() 1 Like |
Re: Rencap Predicts Further Naira Devaluation by chuose: 7:34am On Jun 02, 2015 |
chiedu7:Na so Abok1 talk 1 Like |
Re: Rencap Predicts Further Naira Devaluation by safex(m): 3:05pm On Jun 02, 2015 |
make dem do anytin wey dem lyk jare! |
Re: Rencap Predicts Further Naira Devaluation by zonax(m): 10:20am On Jun 04, 2015 |
ojezee: You must be a fool. I was only trying to emphasize on his campaign promise but being such a fool you have rushed to type nonsense. |
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