BiafranNigerian:


The present value of the naira held by banks (199) is false. The real value is in the parallel markets. What they are saying is, allow the currency value to be determined by the laws of f demand and supply, yes. And allow businessmen to handle importation of petrol and sell at their determined price without subsidy, so that government can focus on governance until you build refineries and sell via NNPC at price of your choosing. Stop confusing yourself.

Amiano:
Dis is wat happens wen ur president has F9 in Economics

Quakertellicus1:
From the article....it is obvious that they want us to devalue....so that forex can flow.

Buharinomics is a bad choice. The problem is...the alternatives are far worse. If we devalue now...we would end up with runaway inflation, severely depreciated naira and suddenly we would be taking high amount of loans to balance the books.

What needs to be done next is simple. We must, as I have said here time after time...become a manufacturing power. I want to see this APC government spend more on generation, and work with the DISCOS and GENCOS to repair our outdated transmission system. I want to see more spending on technical education.I want to see an end to fuel subsidy....because we are just wasting money that could be used for better things, and we do not even have the money to subsidize fuel anyways. We should improve agriculture....by encouraging large scale farming. We should encourage our local industries to stop importing raw materials if they can be sourced in Nigeria. And we must fight corruption....no compromise.

That is what APC must do to leave a glorious legacy.

Modified: Re loans....if we have to take loans...why not in the form of infrastructure?

Eg...Germany gives us a ''loan''to build a power station that runs on refuse...by building the power plant and providing training and logistics.

Quakertellicus1:
From the article....it is obvious that they want us to devalue....so that forex can flow.

Buharinomics is a bad choice. The problem is...the alternatives are far worse. If we devalue now...we would end up with runaway inflation, severely depreciated naira and suddenly we would be taking high amount of loans to balance the books.

What needs to be done next is simple. We must, as I have said here time after time...become a manufacturing power. I want to see this APC government spend more on generation, and work with the DISCOS and GENCOS to repair our outdated transmission system. I want to see more spending on technical education.I want to see an end to fuel subsidy....because we are just wasting money that could be used for better things, and we do not even have the money to subsidize fuel anyways. We should improve agriculture....by encouraging large scale farming. We should encourage our local industries to stop importing raw materials if they can be sourced in Nigeria. And we must fight corruption....no compromise.

That is what APC must do to leave a glorious legacy.

Modified: Re loans....if we have to take loans...why not in the form of infrastructure?

Eg...Germany gives us a ''loan''to build a power station that runs on refuse...by building the power plant and providing training and logistics.

enlightenedmind:
Let's be clear. FX is not crippling Nigeria it is crippling d dollar. Fuel has never been sold at the right price in did country bcoz PDP looters collect bribes from Western countries to use us milking cows. Don't know about light by I happy for the FX and Fuel. We must refine our own feul even if we have suffer we must refine it then sell.

stonemasonn:
the problem of Nigeria is beyond a pass in economics. Even you that passed I bet you're clueless about the solution to the current economic crisis.

coolbis:
nigerians have very short memory, we all have forgotten that this crisis started first quarter of 2015 where NOI stated categorically that we needed to tighten our belt cos nigeria is not making as much as it made the last 4 years. As a matter of fact in one of the interviews granted to the newsmen,NOI admitted that the government had to borrow to pay January and February salary. It was within this period that the govt of PDP could not pay the subsidy owed the fuel marketer, thereby leaving behind long fuel queues and backlog of fuel subsidy running into hundreds of billions of naira. This present govt on assumption of office had to battle with all these mess and was able to bring sanity after paying the backlog.
If the problem the foreign investors have is devaluation of our currency, then they should look for other investment destinations, devaluation of our currency in the past has done us no good, so I stand by Mr president on this.

enlightenedmind:
Let's be clear. FX is not crippling Nigeria it is crippling d dollar. Fuel has never been sold at the right price in did country bcoz PDP looters collect bribes from Western countries to use us milking cows. Don't know about light by I happy for the FX and Fuel. We must refine our own feul even if we have suffer we must refine it then sell.

Amya:
What an adult sees sitting down, a kid can't see standing up.

holicalpha:
CAN SOMEONE PLEASE TELL THIS LADY HOW FOOLISH SHE IS.

BiafranNigerian:


The present value of the naira held by banks (199) is false. The real value is in the parallel markets. What they are saying is, allow the currency value to be determined by the laws of f demand and supply, yes. And allow businessmen to handle importation of petrol and sell at their determined price without subsidy, so that government can focus on governance until you build refineries and sell via NNPC at price of your choosing. Stop confusing yourself.

Quakertellicus1:


Experience has taught us that if you devalue the naira at the official rate...it gets worse at the parallel rate.

Also...the main issue is that we do not have enough forex....and your solution does not address the forex shortage in the country.

Plus...devaluing the naira means you pay more in naira for imported goods and for local goods made with imported raw materials...leading to inflation.

Like i said once earlier...what the Govt is doing is conserving forex...which is what happens in any country who has a drop in the price of oil or any other resource that it is dependent on. So that you do not enter disaster too fast.

banme1:
May buhari RIP.

bluaero:
Meanwhile the useless dull@rd is travelling to china next week. LMAO what a presidiot!!!

#iflywithbuhari

enlightenedmind:
Let's be clear. FX is not crippling Nigeria it is crippling d dollar. Fuel has never been sold at the right price in did country bcoz PDP looters collect bribes from Western countries to use us milking cows. Don't know about light by I happy for the FX and Fuel. We must refine our own feul even if we have suffer we must refine it then sell.

Positiveminds:


Your level of economic illiteracy is beyond cure. Before you make a comment next time read all relevant books, do not forget to ask God to give you some sense.

eph12:

Let's also be clear that one does not place the cart before the ox. Let's also be clear that the amount of revenue Nigeria generates is enough to get things done to an extent that citizens don't have to pass through fire to earn peanuts. The revenue we are currently generating plus the looted funds that has been recovered can be used to repair and maintain our refineries up to the needed standard. If government is complaining of sabotages technology (cameras and heat sensors) and armed forces should be used to guard our installations. It's not rocket science. Bill of almost 100k is brought for electricity that we get for less than total of 20hrs in a month and you say we should suffer and smile? You don't know what you're saying oga.

coolbis:
nigerians have very short memory, we all have forgotten that this crisis started first quarter of 2015 where NOI stated categorically that we needed to tighten our belt cos nigeria is not making as much as it made the last 4 years. As a matter of fact in one of the interviews granted to the newsmen,NOI admitted that the government had to borrow to pay January and February salary. It was within this period that the govt of PDP could not pay the subsidy owed the fuel marketer, thereby leaving behind long fuel queues and backlog of fuel subsidy running into hundreds of billions of naira. This present govt on assumption of office had to battle with all these mess and was able to bring sanity after paying the backlog.
If the problem the foreign investors have is devaluation of our currency, then they should look for other investment destinations, devaluation of our currency in the past has done us no good, so I stand by Mr president on this.

neocortex:


I doubt if you understood what you posted.

Isn't it ironic that the same western country
is where Buhari is going to beg for loans.

The fuel we are currently using please is it being refined in Nigeria ?

PasNet:


Good response..... but I need to question your administrative sense........ What happens to the "one-step-at-a-time" principle that negates "putting all your eggs in a basket"?

It is only not professional, it is also a wicked act for an administrator to want to restructure the administrations key component all at a single time, there are technical process to approach things. I can never shut down business operation of my clients all in the name of carrying out a maintenance or a troubleshoot, they will loss money and I won't get paid. If I will have to do that in worst case scenario, it means the client is spending money and not making money. Same thing applies to running a country, infact serious caution must come to play.