hahahahahaha Sanusi don turn wailer ooooh fire4fire abeg who gave Sanusi form? I think say form don finish? Sanusi must be IPOB!!

oduastates:
NOTHING I WANT MORE THAN FOR CRUDE OIL PRICES TO FALL MORE AND MORE .
This is the best thing to shock the country out of uselessness. And if people refuse to change , let them continue to suffer.
It will also be good for the Niger delta

I can only imagine that the reason why you'd take joy in the suffering of your fellow Nigerians is either because you're not in Nigeria yourself or because you've already determined that you'll never be successful and useful in life and thus wish poverty on everyone else.

oduastates:
At this present moment , I believe that the true value of the naira is closer to N5000 if you discount oil.
Basically means that Nigeria does not export anything , does not make anything and will forever remain dysfunctional until the bitter medicine is applied

What bitter medicine? How can you tell me the previous governments and this present one doesn't have a hand in the increased levels of importation?

oduastates:
Restricting dollars does work . It did work in 1983 .
It means that individuals and companies whose business are built on importation and dumping of basic items will suffer and possibly collapse .
It also means that potential local alternatives will grow out of the ashes .
I cannot forget how South Korea used Nigeria to experiment and dump those paper Daewoo experio cars .we allowed them . Countries come and dump in Nigeria without restrictions while they put all sorts of restrictions on Nigerian agricultural produce.

If it worked in 1983, care to explain why the naira equivalent of a dollar has now multiplied almost 166 times more than it was then?

I don't understand how in God's name you think think its ok for the government to dry up forex without stimulating and encouraging the various sectors that are lacking first. Do you think its every raw material that can be produced locally at the moment?? Nothing will grow out of this, You are just suffering and smiling as you have been doing before.

oduastates:
Nigerians want to buy what they cannot afford .
What has changed between 1983 and now is the taste for excessive luxury.
What has never worked in Nigeria is the devaluation.
Every devaluation in a Nigeria has always led increase in poverty while the looting elites later bring back a little bit of their looted dollars to buy government properties for cheap.
To show you how the useless Nigerian economy behaves, tomatoes , onions and beef sellers have increased their prices because of the devaluation of naira.

A hungry man is not only an angry man but a jealous man as well.

Do you know that what is considered luxury to you can be basic to others? Do you think that its all rich families that are corrupt?? Some worked really hard to get what they have, why should they not enjoy the good life..is it because you cannot afford it too

Corruption is the only reason why devaluation has not worked over the years and you can blame the governments for that. The reason why local food products have increased is because they're being imported and the government has done nothing to encourage the agricultural sector and increase local production. Don't forget that there are other costs factored into the food stuff u buy at the market like transportation and all that and those costs have equally gone up!

oduastates:
When exactly did dollars become the Nigerian currency.......

The rest here is gibberish so i rather not quote it. Reducing importation by increasing locally made products WILL NOT WORK if there is no financial stimulation and encouragement from the government. Now the government has stifled importation as best as it can, yet it has made no steps towards trying to improve important sectors and basically we are importing nothing and producing nothing to sustain our demand, so who is suffering?? is it Buhari that is travelling abroad anyhow??

Nigeria is rapidly headed down the inflation route and more companies will fold and soon with #1,000 naira won't even be able to buy you pure water because most of the the pure water factories would have closed up and the few that are open would sell at exorbitant prices.

Next2Bezee:


I can only imagine that the reason why you'd take joy in the suffering of your fellow Nigerians is either because you're not in Nigeria yourself or because you've already determined that you'll never be successful and useful in life and thus wish poverty on everyone else.



What bitter medicine? How can you tell me the previous governments and this present one doesn't have a hand in the increased levels of importation?



If it worked in 1983, care to explain why the naira equivalent of a dollar has now multiplied almost 166 times more than it was then?

I don't understand how in God's name you think think its ok for the government to dry up forex without stimulating and encouraging the various sectors that are lacking first. Do you think its every raw material that can be produced locally at the moment?? Nothing will grow out of this, You are just suffering and smiling as you have been doing before.



A hungry man is not only an angry man but a jealous man as well.

Do you know that what is considered luxury to you can be basic to others? Do you think that its all rich families that are corrupt?? Some worked really hard to get what they have, why should they not enjoy the good life..is it because you cannot afford it too

Corruption is the only reason why devaluation has not worked over the years and you can blame the governments for that. The reason why local food products have increased is because they're being imported and the government has done nothing to encourage the agricultural sector and increase local production. Don't forget that there are other costs factored into the food stuff u buy at the market like transportation and all that and those costs have equally gone up!



The rest here is gibberish so i rather not quote it. Reducing importation by increasing locally made products WILL NOT WORK if there is no financial stimulation and encouragement from the government. Now the government has stifled importation as best as it can, yet it has made no steps towards trying to improve important sectors and basically we are importing nothing and producing nothing to sustain our demand, so who is suffering?? is it Buhari that is travelling abroad anyhow??

Nigeria is rapidly headed down the inflation route and more companies will fold and soon with #1,000 naira won't even be able to buy you pure water because most of the the pure water factories would have closed up and the few that are open would sell at exorbitant prices.

STOP MOANING AND GET TO WORK .THIS IS AN OPPORTUNITY

small size plastic pencil making injection molding machine

US $58,000

[quote author=TheFreeOne post=43092417][/quote]

Funny, you saw that but failed to see this:“The government does not have the reserves to keep the exchange rate at its official level in the market,” Mr Sanusi told the Financial Times.

What happened to the Reserves? Oh, thats true, there's none. GEJ and his cronies thought Mansions and private jets were more important.

obasiken:


In 1983, people had to line up to buy a tin of milk. Go and ask your father. This policy is an ancient policy or you now know better than 2 former CBN governors sanusi and soludo who have come out to say the same thing.

Yes, because the situation wasn't because a corrupt civilian Govt destroyed the economy just like this GEJ led one did.

oduastates:


You still do not get it .
you have not answered my question .
Will Nigerians die without milk ?
You have millions of cattle yet you cannot produce milks.
You have gas yet cannot provide electricity
You have rivers but cannot provide water
You have crude oil yet import petrol
You have thousands of cobblers yet import most of your shoes.
You have tens of thousands of tailors yet you import Tokunbo bras and pants.
If the businesses who need raw material that can be sourced locally cannot do so , they deserve to die .

Nigerians are just mentally lazy. Look at them arguing with you as if they know what they're talking about.

oduastates:


You still do not get it .
you have not answered my question .
Will Nigerians die without milk ?
You have millions of cattle yet you cannot produce milks.
You have gas yet cannot provide electricity
You have rivers but cannot provide water
You have crude oil yet import petrol
You have thousands of cobblers yet import most of your shoes.
You have tens of thousands of tailors yet you import Tokunbo bras and pants.
If the businesses who need raw material that can be sourced locally cannot do so , they deserve to die .

What effort has your government made to stimulate the production of local alternatives? Do you even know what and what can be sourced locally?? Your stupidity is what will kill you

oduastates:


STOP MOANING AND GET TO WORK .THIS IS AN OPPORTUNITY

small size plastic pencil making injection molding machine

US $58,000

Read your posts from beginning to end...
You killed it bruh...you killed it
E gbuole'm

Divide this country PEACEFULLY into regions. Let every region find a solution to their problems in their own unique way .

oduastates:


1983 was a consequence of overspending by the military shagari 's overspending and corruption.
The damage had already been done .
Buhari came in to do firefighting . Just like today.
You did not have the forex to import milk . Just like today you do not have the forex to afford what you want ?
Like I said , milk is not an essential. At least not in Nigeria.
What is essential is medicine and some other food .
Those crying out for dollars simply want to continue the bad behaviour
Blaming oil prices is just silly excuse . You simply have a country not living within her means

And that era 1983/4 or so the result of buharis fight and policies would have worked had it been he wasn't booted out by the idgit that took over and bagan another destruction of Nigeria.

Nice points bro

oduastates:
NOTHING I WANT MORE THAN FOR CRUDE OIL PRICES TO FALL MORE AND MORE .
This is the best thing to shock the country out of uselessness. And if people refuse to change , let them continue to suffer.
It will also be good for the Niger delta

At this present moment , I believe that the true value of the naira is closer to N5000 if you discount oil.
Basically means that Nigeria does not export anything , does not make anything and will forever remain dysfunctional until the bitter medicine is applied
Restricting dollars does work . It did work in 1983 .
It means that individuals and companies whose business are built on importation and dumping of basic items will suffer and possibly collapse .
It also means that potential local alternatives will grow out of the ashes .
I cannot forget how South Korea used Nigeria to experiment and dump those paper Daewoo experio cars .we allowed them . Countries come and dump in Nigeria without restrictions while they put all sorts of restrictions on Nigerian agricultural produce.

Nigerians want to buy what they cannot afford .
What has changed between 1983 and now is the taste for excessive luxury.
What has never worked in Nigeria is the devaluation.
Every devaluation in a Nigeria has always led increase in poverty while the looting elites later bring back a little bit of their looted dollars to buy government properties for cheap.
To show you how the useless Nigerian economy behaves, tomatoes , onions and beef sellers have increased their prices because of the devaluation of naira.
When exactly did dollars become the Nigerian currency.
None of the inputs into the production of these two goods has suffered a corresponding increase in price.
What you have there is an economy that simply does not work . For a few years under Obj , it felt like Nigeria was about to build a truly middle class led economy . That dream was blown away by Yar Adua and Jonathan
This is why I support the dismantling of the current system of excessive importation which I hope will be followed up by the dismantling of the informal sector as shown by the behaviour of these tomatoes seller.
This crisis remains an opportunity. Let the elites cry and starve for the dollars .
This crisis present and opportunity to change the way Nigeria works .
A Nigerian value chain can be built without much effort . If your drink factory need orange concentrate , source it locally . Mango is wasting away in Benue , tomotoes is rotting away in the north .
Talking about priorities,
Ondo was building useless conference centres when it should be building Cocoa plantations . Cross river was building Tinapa instead of palm oil , Akwa ibom was building stadium instead of pineapples and coconut , Osun building airport instead of plantain.
Do they know that they can build an entire value chain on what they have ? From chocolate to soap , cosmetics ,detergent,lubricants, medicine etc

Don't ever pray for what happened in 1983 repeat itself else na leg you go use go niger Republic, you better go and ask your father for the gist

oduastates:
NOTHING I WANT MORE THAN FOR CRUDE OIL PRICES TO FALL MORE AND MORE .
This is the best thing to shock the country out of uselessness. And if people refuse to change , let them continue to suffer.
It will also be good for the Niger delta

At this present moment , I believe that the true value of the naira is closer to N5000 if you discount oil.
Basically means that Nigeria does not export anything , does not make anything and will forever remain dysfunctional until the bitter medicine is applied
Restricting dollars does work . It did work in 1983 .
It means that individuals and companies whose business are built on importation and dumping of basic items will suffer and possibly collapse .
It also means that potential local alternatives will grow out of the ashes .
I cannot forget how South Korea used Nigeria to experiment and dump those paper Daewoo experio cars .we allowed them . Countries come and dump in Nigeria without restrictions while they put all sorts of restrictions on Nigerian agricultural produce.

Nigerians want to buy what they cannot afford .
What has changed between 1983 and now is the taste for excessive luxury.
What has never worked in Nigeria is the devaluation.
Every devaluation in a Nigeria has always led increase in poverty while the looting elites later bring back a little bit of their looted dollars to buy government properties for cheap.
To show you how the useless Nigerian economy behaves, tomatoes , onions and beef sellers have increased their prices because of the devaluation of naira.
When exactly did dollars become the Nigerian currency.
None of the inputs into the production of these two goods has suffered a corresponding increase in price.
What you have there is an economy that simply does not work . For a few years under Obj , it felt like Nigeria was about to build a truly middle class led economy . That dream was blown away by Yar Adua and Jonathan
This is why I support the dismantling of the current system of excessive importation which I hope will be followed up by the dismantling of the informal sector as shown by the behaviour of these tomatoes seller.
This crisis remains an opportunity. Let the elites cry and starve for the dollars .
This crisis present and opportunity to change the way Nigeria works .
A Nigerian value chain can be built without much effort . If your drink factory need orange concentrate , source it locally . Mango is wasting away in Benue , tomotoes is rotting away in the north .
Talking about priorities,
Ondo was building useless conference centres when it should be building Cocoa plantations . Cross river was building Tinapa instead of palm oil , Akwa ibom was building stadium instead of pineapples and coconut , Osun building airport instead of plantain.
Do they know that they can build an entire value chain on what they have ? From chocolate to soap , cosmetics ,detergent,lubricants, medicine etc

If devaluation scores a C grade, not devaluing as seen by Buhari scores a big F. Economist are not stupid. Devaluation enabled the economy sustain growth of 7% . Now it is barely 3%.

oduastates:


You still do not get it .
you have not answered my question .
Will Nigerians die without milk ?
You have millions of cattle yet you cannot produce milks.
You have gas yet cannot provide electricity
You have rivers but cannot provide water
You have crude oil yet import petrol
You have thousands of cobblers yet import most of your shoes.
You have tens of thousands of tailors yet you import Tokunbo bras and pants.
If the businesses who need raw material that can be sourced locally cannot do so , they deserve to die .

daily balanced diet requires a tin of milk & egg. How old are you plz?

godoluwa:
[s]daily balanced diet requires a tin of milk & egg. How old are you plz? [/s]

A balanced diet requires the right amount of protein ,carbs and vitamins
How clueless are you?

oduastates:

And not drinking milk will kill you?
You guys are still not getting it .
Many opportunities are looking to check out with what remains of Nigeria foreign exchange .
The smart money ( those who decieved you and rig oil prices ) checked out when you were at the top of your boom. They don't pay $1 million salaries to gifted mathematicians for nothing.
The $29 billion will not even last 6 month at the rate .
When it runs out , what are you going to do ?
Ask Buhari to manufacture it .

The reserves can never empty if the naira is properly priced. Presently its too cheap at the official rates encouraging excess demand. You stste it is scarce yet want to sell it at the cheapest possible price. SMH

How will forex come in? Nobody wants to sell forex at the official rate. Many foriegn investors have stayed away because of this.

Emekamex:
The naira is already devalued, the CBN are still living in a fantasy world by thinking otherwise.

Wrong, the Cbn is only subsidizing the dollar for raw materials, equipment and fuel imports

obasiken:


In 1983, people had to line up to buy a tin of milk. Go and ask your father. This policy is an ancient policy or you now know better than 2 former CBN governors sanusi and soludo who have come out to say the same thing.

Pls what alternatives are you suggesting

oduastates:

A balanced diet requires the right amount of protein ,carbs and vitamins
How clueless are you?

lmao, the fact that you are not capable of buying a tin of milk doesnt mean other should not. chai, God punish poverty

Kenai:


Stop aimlessly digging, boy; you're in a hole already.
Your first post smacked of spine-chilling ignorance because it showed you know absolutely nothing about the issue you seek to discuss.
Your revisionism has already met a brickwall because we're not all fools here, and we weren't all born yesterday.
Should you, however, decide to limit your baseless revisionist babble to the other "Sai Baba" howlers, I will not begrudge you, for I never thought better of their reasoning capacity anyway.

In 1983, Buhari's myopic policies led to massive job cuts, particularly in the manufacturing sector due to the lack of raw materials as well as unfavorable business climate. Mind you, during this period, he was still busy chasing rats and jailing his opponents on trumped up charges - the Ambrose Allis, Sam Mbakwes, Tai Solarins, Alex Ekwuemes, Aper Akus, etc.

His ill-thought EssenCo had people queuing up to buy basic food, milk, sugar, toiletries, etc. like they were in Nazi Concentration camps, and you try to justify that nonsense.
Better ask the people who experienced that mess and stop trying to rationalize retrogression simply because of your partisan sentiments.

I did. I was in form 1 then. Hubris masquerading as economics.

grandstar:


The reserves can never empty if the naira is properly priced. Presently its too cheap at the official rates encouraging excess demand. You stste it is scarce yet want to sell it at the cheapest possible price. SMH

How will forex come in? Nobody wants to sell forex at the official rate. Many foriegn investors have stayed away because of this.

Devalue the naira to 400 today and by next week the black market will shoot to 600, as long as there is $ scarcity

dunkem21:



It wouldn't be fair else I would snap pictures of people queueing to buy an essential commodity on Monday ..

Imported commodity you mean?

Obiagelli:

Imported commodity you mean?

No.

wow

oduastates:


You still do not get it .
you have not answered my question .
Will Nigerians die without milk ?
You have millions of cattle yet you cannot produce milks.
You have gas yet cannot provide electricity
You have rivers but cannot provide water
You have crude oil yet import petrol
You have thousands of cobblers yet import most of your shoes.
You have tens of thousands of tailors yet you import Tokunbo bras and pants.
If the businesses who need raw mat
erial that can be sourced locally cannot do so , they deserve to die .

You fail to get it!

Does Nigeria have any comparative advantage in producing milk? The answer is no.

There will either be compromises in terms of cost or quality if made here. Dangote cement fleeced Nigerians harming the construction company.

You think manufacturing exist in a void. There are issues relating to competitiveness, productivity. logistics, value supply chain and so on.

When the rich world buys our raw materials and make higher value products from them, we call them wise. When Nigeria imports raw materials and adds value. he is called unpatriotic!

oduastates:
NOTHING I WANT MORE THAN FOR CRUDE OIL PRICES TO FALL MORE AND MORE .
This is the best thing to shock the country out of uselessness. And if people refuse to change , let them continue to suffer.
It will also be good for the Niger delta

At this present moment , I believe that the true value of the naira is closer to N5000 if you discount oil.
Basically means that Nigeria does not export anything , does not make anything and will forever remain dysfunctional until the bitter medicine is applied
Restricting dollars does work . It did work in 1983 .
It means that individuals and companies whose business are built on importation and dumping of basic items will suffer and possibly collapse .
It also means that potential local alternatives will grow out of the ashes .
I cannot forget how South Korea used Nigeria to experiment and dump those paper Daewoo experio cars .we allowed them . Countries come and dump in Nigeria without restrictions while they put all sorts of restrictions on Nigerian agricultural produce.

Nigerians want to buy what they cannot afford .
What has changed between 1983 and now is the taste for excessive luxury.
What has never worked in Nigeria is the devaluation.
Every devaluation in a Nigeria has always led increase in poverty while the looting elites later bring back a little bit of their looted dollars to buy government properties for cheap.
To show you how the useless Nigerian economy behaves, tomatoes , onions and beef sellers have increased their prices because of the devaluation of naira.
When exactly did dollars become the Nigerian currency.
None of the inputs into the production of these two goods has suffered a corresponding increase in price.
What you have there is an economy that simply does not work . For a few years under Obj , it felt like Nigeria was about to build a truly middle class led economy . That dream was blown away by Yar Adua and Jonathan
This is why I support the dismantling of the current system of excessive importation which I hope will be followed up by the dismantling of the informal sector as shown by the behaviour of these tomatoes seller.
This crisis remains an opportunity. Let the elites cry and starve for the dollars .
This crisis present and opportunity to change the way Nigeria works .
A Nigerian value chain can be built without much effort . If your drink factory need orange concentrate , source it locally . Mango is wasting away in Benue , tomotoes is rotting away in the north .
Talking about priorities,
Ondo was building useless conference centres when it should be building Cocoa plantations . Cross river was building Tinapa instead of palm oil , Akwa ibom was building stadium instead of pineapples and coconut , Osun building airport instead of plantain.
Do they know that they can build an entire value chain on what they have ? From chocolate to soap , cosmetics ,detergent,lubricants, medicine etc

what is dis baseless epistle u wrote?leaking words 4rm both. sides of d mouth.smh.

grandstar:


You fail to get it!

Does Nigeria have any comparative advantage in producing milk? The answer is no.

There will either be compromises in terms of cost or quality if made here. Dangote cement fleeced Nigerians harming the construction company.

You think manufacturing exist in a void. There are issues relating to competitiveness, productivity. logistics, value supply chain and so on.

When the rich world buys our raw materials and make higher value products from them, we call them wise. When Nigeria imports raw materials and adds value. he is called unpatriotic!

The typical answer of a bird who refuses to learn how to fly . Competitive against whom producing the toothpick and toilet rolls that you use ?

oduastates:

And not drinking milk will kill you?
You guys are still not getting it .
Many opportunities are looking to check out with what remains of Nigeria foreign exchange .
The smart money ( those who decieved you and rig oil prices ) checked out when you were at the top of your boom. They don't pay $1 million salaries to gifted mathematicians for nothing.
The $29 billion will not even last 6 month at the rate .
When it runs out , what are you going to do ?
Ask Buhari to manufacture it .

What is this one saying? Is milk now a luxury? I even thought he was making sense before.

oduastates:


1983 was a consequence of overspending by the military and shagari 's overspending and corruption.
The damage had already been done .
Buhari came in to do firefighting . Just like today.
You did not have the forex to import milk . Just like today you do not have the forex to afford what you want ?
Like I said , milk is not an essential. At least not in Nigeria.
What is essential is medicine and some other food .
Those crying out for dollars simply want to continue the bad behaviour
Blaming oil prices is just silly excuse . You simply have a country not living within her means

The man mismanaged it as he is doing now. Atedo peterside called him an economic illiterate.

Soludo,Sanusi and Utomi have all condemned these policies.

I bought a CD of Ras kimono's old songs and videos. I was watching and listening to his famous nostalgic hit song "Under pressure" which was the rave of the early 90s'. He was talking about looters who were making life difficult for the common man. 'No money in our pocket, No food on our tables, Many suffer, Many dying everyday!' goes one of the verses.


I asked myself, If life could be that tough in those glory days of oil boom yet people were complaining, then many should get ready to die off in this era of gloom. Casket making will be good business this time.

Obiagelli:

Devalue the naira to 400 today and by next week the black market will shoot to 600, as long as there is $ scarcity

History always repeats itself.

In 2009 when the price of crude oil collapsed to $35 from $148 in 2008, the naira came under intense pressure. Soludo refused to allow the naira to depreciate from around 120 where it was.. He started introducing forex restrictions.

The naira however depreciated from 120 to 190 at the black market, a difference of up to 70naira. Before the difference was not more than 2naira.

When Sanusi came in that year, he immediately devalued the naira at the official rate to 150. Immediately, the black market rose from 190 to around 155.

If Buhari should devalue the naira between 230 and 240, the black market will converge with the official rate.

Next2Bezee:


I can only imagine that the reason why you'd take joy in the suffering of your fellow Nigerians is either because you're not in Nigeria yourself or because you've already determined that you'll never be successful and useful in life and thus wish poverty on everyone else.



What bitter medicine? How can you tell me the previous governments and this present one doesn't have a hand in the increased levels of importation?



If it worked in 1983, care to explain why the naira equivalent of a dollar has now multiplied almost 166 times more than it was then?

I don't understand how in God's name you think think its ok for the government to dry up forex without stimulating and encouraging the various sectors that are lacking first. Do you think its every raw material that can be produced locally at the moment?? Nothing will grow out of this, You are just suffering and smiling as you have been doing before.



A hungry man is not only an angry man but a jealous man as well.

Do you know that what is considered luxury to you can be basic to others? Do you think that its all rich families that are corrupt?? Some worked really hard to get what they have, why should they not enjoy the good life..is it because you cannot afford it too

Corruption is the only reason why devaluation has not worked over the years and you can blame the governments for that. The reason why local food products have increased is because they're being imported and the government has done nothing to encourage the agricultural sector and increase local production. Don't forget that there are other costs factored into the food stuff u buy at the market like transportation and all that and those costs have equally gone up!



The rest here is gibberish so i rather not quote it. Reducing importation by increasing locally made products WILL NOT WORK if there is no financial stimulation and encouragement from the government. Now the government has stifled importation as best as it can, yet it has made no steps towards trying to improve important sectors and basically we are importing nothing and producing nothing to sustain our demand, so who is suffering?? is it Buhari that is travelling abroad anyhow??

Nigeria is rapidly headed down the inflation route and more companies will fold and soon with #1,000 naira won't even be able to buy you pure water because most of the the pure water factories would have closed up and the few that are open would sell at exorbitant prices.

You summed up my thoughts quite well..

Closing up imports without making adequate provisions to ensure production will not work.
Expecting the local industries to be 'forced' to take up the production mantle is simply daydreaming@night time...wen, all things considered, they'll still to an extent have to source internationally f some materials.
Building local capacity doesn't happen in a day but takes political will n a well laid out policy.
Does innoson motors produce their engines n motor parts locally??
Oduastate has got some points but these are largely tainted by his partisan ship

oduastates:

A balanced diet requires the right amount of protein ,carbs and vitamins
How clueless are you?

The cheapest and best source of protein n essential nutrients is Milk.
That's why milk is regarded almost as a complete meal on its own.

Careful how quick u call someone clueless