Kenai:


Bros, how far naa? GEJ has left oh. Now we have the Budget of Yams... But wait, did NOI cause this one too?

Remii:


there was no Naira in 1970 when war ended. The Naira was introduced on 1 January 1973, replacing the pound at a rate of 2 naira = 1 pound.

seangy4konji:
Wake me again when its $1 to N700

justmenoni:
Can ur dad help me buy a truck from Germany??

quote author=anigbajumo post=42791621]This is gradually moving from bad to worse, my dad has been in Germany some weeks to buy new trucks as usual, he called me on Sunday that it is a big problem coz it is too expensive Dan what he speculate..dollar don rise again I swear am in deep poo coz this thin don dey hit my backbone.....

Imagine a truck of 6.5 million before as at beginning of 2015 nw over 9million,dollar still don increase again now ....


I swear ah don dey regret this change coz this is not my thoughts b4 I vote...


U doubt me as an APC supporter check my post and punch out where I supported PDP....

Know2020:
This country is finished!

Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.

You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. Had this drastic dollar free fall happened under Iweala? Oh lord...they will be calling for her head not even resignation. They are already making excuses for Fashola to downplay the expectations on him...see 3rd topic now on front page. Hypocrites!

godoluwa:
ok, only those that transact in dollar will understand that Buhari led CBN policy will do us more harm than good

Pesuzok:


Which month in spring, and from what value to what value?

Know2020:
This country is finished!

Let me see the twit that will invoke GEJ. GEJ left office with naira to dollar at 210 and today it's 313. WTF? GEJ inherited naira to dollar from Yaradua at 165, it stayed at this rate +/-15 for 4 yrs, it was only towards the end of 2014 that we began to see fall in naira largely caused by those who are bent on sabotaging his achievements to make sure he doesn't get re-elected. Compare dollar to naira lost in value under GEJ from 165 to 210 within 4-5 yrs span...that's very reasonable. However under Buhari from 210-313 in barely 6 months? This is disastrous...an invitation to anarchy. Same goes for fuel scarcity, there was never a fuel scarcity under GEJ except for his last few months in office, again largely perpetrated by the same very savages who are bent on making sure he never got re-elected.

You noticed how yorubas are quiet all of a sudden? Because their sister Kemi Adeosun is at the helm of the finance. Had this drastic dollar free fall happened under Iweala? Oh lord...they will be calling for her head not even resignation. They are already making excuses for Fashola to downplay the expectations on him...see 3rd topic now on front page. Hypocrites!

coachwilcox:
Nigerians are indeed daft and too stupid to see beyond their nose in most matters in their own country.

Last 3 weeks I bought a KLM ticket to London for 800 dollars. I paid 160k into Zenith Bank to secure same ticket. That's because the airlines are using CBN rate. If I'd gone to the aboki to buy 800 usd, I'd have spent 240k or thereabout.

My point is, the rate being announced is actually the parallel market rate which shouldn't be more than 10 to 20 naira above the CBN rate. However, the BDCs are profiting on speculation and funding importation of banned items we can produce in nigeria. This driving the rate way above the cbn rate. You don't grow your economy to compete with Asia or Europe by importing what you can produce.

Those crying foul about the exchange rate are those ruining the economy and making it import dependent. Since Customs are not successfully screening and seizing banned items, the best way is to starve the illegal importers from forex to kill the economy further.

Next focus I want PMB to face is Seme border and the massive inflow of items from port novo which are largely banned.

If Naija will be great, we must feel the pinch.

coachwilcox:
Nigerians are indeed daft and too stupid to see beyond their nose in most matters in their own country.

Last 3 weeks I bought a KLM ticket to London for 800 dollars. I paid 160k into Zenith Bank to secure same ticket. That's because the airlines are using CBN rate. If I'd gone to the aboki to buy 800 usd, I'd have spent 240k or thereabout.

My point is, the rate being announced is actually the parallel market rate which shouldn't be more than 10 to 20 naira above the CBN rate. However, the BDCs are profiting on speculation and funding importation of banned items we can produce in nigeria. This driving the rate way above the cbn rate. You don't grow your economy to compete with Asia or Europe by importing what you can produce.

Those crying foul about the exchange rate are those ruining the economy and making it import dependent. Since Customs are not successfully screening and seizing banned items, the best way is to starve the illegal importers from forex to kill the economy further.

Next focus I want PMB to face is Seme border and the massive inflow of items from port novo which are largely banned.

If Naija will be great, we must feel the pinch.

Lexusgs430:
£1 = N430
NB : Small small e go enter £1 = N1000

daywalker02:
My God, this is terrible






I am a handyman @ your service call 08071197948 for painting, carpentry, plumbing, electrical or mobile car wash service. We wash your car anywhere, anytime

Reference:


I like and totally appreciate mature reasoning and the quest for understanding debates generate. Your view is true but that is not governance, that is politics. It ends at the polls. When you are sworn in you've got to start cashing in on the goodwill to do what is right, not perpetuate what is wrong. The quest for popularity after elections is wrong.

Buhari should take the tough road to restructuring Nigeria, instilling equity and justice, changing the socio-economic scape, diversifying the economy. Granted these are harder to do than 'corruption wars' but these are legacy projects to last far beyond his tenure. I'm afraid the way things are going he will have no legacy and the only hope he has of preventing a total washout of his presidency is oil price rises.

Why can't he set us on the path of economic emancipation. Why.

Lexusgs430:
£1 = N430
NB : Small small e go enter £1 = N1000

harmony940:


Yes i agree with you again,diversifying the economy from oil to non oil comes with his own challenges.The president is trying so hard in that regard,for instance the Nigerian custom now generates like 2 billion naira daily,the firs,are generate money too as well as other generating agencies. The is the first time ever that the Nigerian budget will be based on non oil sector,basically driven by taxes. All we need is time and patience,lets give him these and see how things work out.

One of challenges of of the present administration is that it is being so rounded by people who are corrupt themselves. I just pray he gets it right because if he fails Nigeria as a country will fail.

erico2k2:

E don reach 430?, thought it was 425

Lexusgs430:


Lol. 430 vs 425? Let's be friends and share the N5.00 difference!!!

Reference:


I like and totally appreciate mature reasoning and the quest for understanding debates generate. Your view is true but that is not governance, that is politics. It ends at the polls. When you are sworn in you've got to start cashing in on the goodwill to do what is right, not perpetuate what is wrong. The quest for popularity after elections is wrong.

Buhari should take the tough road to restructuring Nigeria, instilling equity and justice, changing the socio-economic scape, diversifying the economy. Granted these are harder to do than 'corruption wars' but these are legacy projects to last far beyond his tenure. I'm afraid the way things are going he will have no legacy and the only hope he has of preventing a total washout of his presidency is oil price rises.

Why can't he set us on the path of economic emancipation. Why.

erico2k2:

I nor dey share the galla share the booze

erico2k2:

what makes you think teh BDC fund importation of goods we can produce in Nigeria?
Let me set something straight, importing of good has nothing to do with weather we can produce it in Nigeria or not, its basic Economics, you go and source your product where ever you think you can bring your overhead down.
I shal give you an example,the Indian steel giant called Lakshmi Mittal has to close his factory in teh Uk, up to 1000 people lost thier jobs, reason being builders and Engineers are importing cheap steel from china.It cost more to produce same steel in the UK than landing cost of chinese steel as its a free market.thats in teh west
Now if teh cost of an office table from raw material to finished product i n a shop is N30k and I can import from china to my shop at N25k, what do you think as a Business man would go for?
Solution:the only way round this is government intervention,give industrialist tax break.waivers for certain machineries.Loans and grant plus starters pack for small scale Business .Govt needs to initiate strategic policies to encourage Industrialization.We should coporate with china cos they are the o nly ones who will listen to us.

erico2k2:

I think sometimes we have to be sincere in our submissions, talking about the president surrounding himself with thieves right,, did you listen in the news today how they labeled something as house rent for ASO ROCK? now who lives there?.Never believe politicians, they are all career liars.If you recall PMB said he borrowed the money to buy the registration form in order to come accross as humble, the other one said he had no shoes.Now we know different.
Regard raising revenue YES we can do it from the non Oil export.Government should formulate policies to encourage local producers.Give them tax brakes, make it easy a transparent to export products.

harmony940:


My brother you see one of the most greatest challenge that Nigeriana as a Nation is facing is the use of Cash to buy things around its borders and the world in general. Take of instance,a Nigerian goes to Benin Republic to buy used shoes,with the Nigeria Naira being converted to Cephass,that alone as weaken the Naira,He buys the used shoes,smuggled it to Nigeria makes good profit at the detriment of the economy. Its time for him/her to celebrate because he has made good profit,what is the next step,he goes again to Benin Republic with the raw cash the naira,converts again to Cephas and buys the ankara,foreign beer,and a new car to change his/her status in benin and for the big party in Nigeria. He makes a very great mistake now he smuggles all these things into Nigeria.
We should patronize our goods and one day it will become a standard product,we cant expect everything to be ok at first.
When be begin to buy our own product and export it to even the neighboring countries and the world,our Naira will appreciate greatly.
Let the federal Government close the seme border for just two weeks you will see how the Naira will bounce back,we cannot be improving the economy of another nation by smuggling things in, at the detriment of our own dear country.
As i said earlier the government is critically looking at the non oil sector to drive the economy,Steel,Iron,and other minerals have to be taped,agriculture needs to be given a serious priority.Diversifying the economy is a very crucial issue,it is an economical shift,and if it is not done with great wisdom,the whole economy will collapse.
In addition why on earth should we pay money to the Benin Republic Government for custom duties,when clearing our cars,why cant we used the ports to ship whatever we buy from Benin republic to the Nigeria Ports. The federal government should enforce that,and stiffer measures should be placed on anyone that violates this procedures. It is only Nigeria that i see the government buying arms with millions of dollars in cash,there fore killing the naira.

The rich and not happy because all their accounts are being monitored by the BVN,via the central bank....all accounts are being verified,and it will get to a time where anyone with suspicious accounts will be called upon to make clarifications of how and what they did to make such money.

To strengthen the Naira me and you and most importantly the PRESENT Government needs one or two parts to play,I still believe in Nigeria,we might not live to enjoy the great days,but what of our children and grand children.

God me and you,and every one who reads,God bless Nigeria.

udatso:

Clearly you have spoken like an ignorant one. Let me break it down for you. Our reserve keeps our naira value strong. Our reserve increases with our sale of crude oil. In those years you speak of, they sold one barrel of crude oil for an average of $100. Right now we are selling for less than $35. ......hence the reason for your naira value drop

coachwilcox:
Nigerians are indeed daft and too stupid to see beyond their nose in most matters in their own country.

Last 3 weeks I bought a KLM ticket to London for 800 dollars. I paid 160k into Zenith Bank to secure same ticket. That's because the airlines are using CBN rate. If I'd gone to the aboki to buy 800 usd, I'd have spent 240k or thereabout.

My point is, the rate being announced is actually the parallel market rate which shouldn't be more than 10 to 20 naira above the CBN rate. However, the BDCs are profiting on speculation and funding importation of banned items we can produce in nigeria. This driving the rate way above the cbn rate. You don't grow your economy to compete with Asia or Europe by importing what you can produce.

Those crying foul about the exchange rate are those ruining the economy and making it import dependent. Since Customs are not successfully screening and seizing banned items, the best way is to starve the illegal importers from forex to kill the economy further.

Next focus I want PMB to face is Seme border and the massive inflow of items from port novo which are largely banned.

If Naija will be great, we must feel the pinch.

coachwilcox:
Nigerians are indeed daft and too stupid to see beyond their nose in most matters in their own country.

Last 3 weeks I bought a KLM ticket to London for 800 dollars. I paid 160k into Zenith Bank to secure same ticket. That's because the airlines are using CBN rate. If I'd gone to the aboki to buy 800 usd, I'd have spent 240k or thereabout.

My point is, the rate being announced is actually the parallel market rate which shouldn't be more than 10 to 20 naira above the CBN rate. However, the BDCs are profiting on speculation and funding importation of banned items we can produce in nigeria. This driving the rate way above the cbn rate. You don't grow your economy to compete with Asia or Europe by importing what you can produce.

Those crying foul about the exchange rate are those ruining the economy and making it import dependent. Since Customs are not successfully screening and seizing banned items, the best way is to starve the illegal importers from forex to kill the economy further.

Next focus I want PMB to face is Seme border and the massive inflow of items from port novo which are largely banned.

If Naija will be great, we must feel the pinch.

ringolo:
Udatso, let me add to your knowlegde. The main cause of this sharp fall in the value of naira is simply because of scarcity of dollars. As crude oil prices kept dropping due to over-supply, it was only common sense for the govt to devalue the currency as advise by JP Morgan, IMF, World Bank, etc, thus making our oil about the cheapest to buy and hence our supply of foreign exchange (dollars) is not hindered, although a bit more expensive. For your information , Nigeria's oil is NOT selling, i mean, crude oil prices cant be falling due to over-supply in the world market and your dumbass Buhari expects buyers to still trade on our oil at N199 to $1 bench mark. Nigeria has since been delisted from JP-Morgan and is currently on an economic rating of B-. Trust me when i say that if the Naira had been officially devalued on time, the naira would never have fallen to N315/$1. I am sorry to say this but the reality is that the Naira will keep falling till your crack head President Buhari stops his 1985 economics, there is no hope in sight. We are doomed under this government.

udatso:

Experts have actually analysed this evaluation issue. They came to conclusion that devaluation won't do us any good. I think cbn should focus on Playing and maintaining policies that would solve this Forex issues

surestakes:


I was being sarcastic

No vex, I beg