ubaobi:
Who is d minister of finance?.. I won't forget how one DULLARD**HO promised to make #1 equal to $1 and to stabilize oil price. we are patiently waiting

Hey respect ur president or else.....

benjaminiyke:
hahahaha. I totally agree with you,I also found it difficult to grasp the message in this article,we have some really educated personnel in this country with great potential....if only we can stamp out corruption from this country we can become one of the leading countries in the world. We have so much potential here.

I couldn't agree more.

Excellent riposte to the overrated and nonsense rag that is the Economist. I cancelled my subscription years ago and have not looked back. All the best to Emefile and co.

RichDad1:
The CBN governor is as Clueless as the Person that appoints him. Your days are numbered.

We are not here for childs play. And do not be an example of a bad Nigerian.

good move put plans in motion fast

As far as I am concerned, this is a very logical strategy made by CBN. I strongly believe it is all for the best and things will turn out better if we are all patient and support the plans. Rome was not built in a day, it's time we start learning how to appreciate our locally made products and in time our Naira will get to stabilize. Only short minded thinkers wont see any sense in this but the visionaries will.

RichDad1:
The CBN governor is as Clueless as the Person that appoints him. Your days are numbered.

to be candid, u are actually the clueless one. U dont know shit or understand the structure of the language put up there. I doubt if you even spent time in reading the whole article to understand better

UnknownT:
We need to hear from Nairaland's Chief Economist Prof. Ms Ngeneukwenu. Please come and throw more light on the issue

.
Home economist you meant?

nwaenugu:
Excellent riposte to the overrated and nonsense rag that is the Economist. I cancelled my subscription years ago and have not looked back. All the best to Emefile and co.

Absolutely!! The Economist as usual is part of the western economic ambushing structure. Good rebuff by the central bankers of Nigeria.
Kudos Emiefele! Pity those Nigerians that cannot digest the simple message in the article.

nwaenugu:
Excellent riposte to the overrated and nonsense rag that is the Economist. I cancelled my subscription years ago and have not looked back. All the best to Emefile and co.

When you can put together a magazine of international repute like the Economist, we will listen to you. Your opinion is the overrated & nonsense rag i'm afraid.

ibedun:

Absolutely!! The Economist as usual is part of the western economic ambushing structure. Good rebuff by the central bankers of Nigeria.
Kudos Emiefele! Pity those Nigerians that cannot digest the simple message in the article.

Good rebuff of a reasonable critique of Nigeria/CBN's lousy economic policies The west ambushed our economy to it's present state? or devalued and bastardized our currency?

YourCoffin:
These people should learn how to communicate in layman's terms. Even as educated as I seem to be, I'm grappling with this article.

A kind hearted economists should please break it down for us. Thanks.

I could not see any economics jargon there, just a simple explaination of normative statement

Jepsy:
I could not see any economics jargon there, just a simple explaination of normative statement

Yeah, even what you consider as 'simple' and 'normative' is relative. It doesn't look as such from where I'm sitting.

Are you an economist? If so, please explain in layman terms how choosing not to devalue an already devalued Naira will bring about econmic advancement. I didn't get their explanation of it. Maybe, yours would convey much understanding than theirs.

YourCoffin:


Yeah, even what you consider as 'simple' and 'normative' is relative. It doesn't look as such from where I'm sitting.

Actually, i am an economics student not yet economist. u may recall with me that in 1982 x president Shehu Shagari went to IMF (International Monetary Fund) to obtain a LOAN and one of the conditions for IMF to give Nigeria the loan was Devaluation of Naira by 60% (devaluation means that Our local commodities become cheap while that of foreign country using Dollar, Euro Pounds etc become costly remember Naira and Dollar is just a unite of measuremen that is y i used COMMODITIES) so you are right Naira was already devalued, but by 60%, the reason was to discourage Importation. So all the CBN governor is saying is that instead of devalueing Naira again, that he will make a law to stop importation of some commodities instead of reducing the value of naira again, and he had actually stoped it, now those commodities will be produce locally. so jargon means using economics terms but Mr Emefiere did not do that. i am jepsy50 on facebook u can add me up i hardly visit nairaland. bye.