ISpiksDaTroof:
For your own sanity--- and "respect" on this forum--- DO. NOT. ENGAGE. THAT. KID. MANNY4LIFE. IN. A.DEBATE!!! He always knows a lot of nothing about everything and he will totally deviate from the actual topic. Switch to Medicine, Aeronautics , War planning, Legalese etc and watch him pretend he's an expert on EVERY subject whilst simultaneously driving you crazy.

Ignore him. That's the best advise I can give you.

Empero1:


Sharap! What gives you the guts to ask if I'm alright! Now, to the bone of contention, I wonder where you get the idea that we're "poor and weak" obviously, you're not a good student of diplomacy.

With the abundance of natural resources that abounds in this great country, the word poor shouldn't be associated with us- China as an enterprising and industrialized country need what we have in this regard and vise versa. More so, with the intellectual resources available to us, we shouldn't be ascribed with the word weak- a sound diplomatic ground work is all we need to get things right at this juncture.

I'm a seasoned bureaucrat... an international acclaimed one at that, I have always help different many countries to get the best of deals from their counterparts without letting the initiator of the deal to subject itself to perpetual slavery in the hand of its associate country. By the way, there's something called trade by barter.

Anyway, my service is not for free, so for more information contact me privately.

Ratello:

I have realised that you are so clueless to the level that "human faeces" will look like "porridge beans" to you.....I wondered the school you attended that did this damage to you what exactly are you saying clown? That Buhari is on the right track? You need to fraternize with how the Asian Tigers came to be from a consuming to a producing economy.

Firefire:



I wonder when Nigeria will start killing all the corrupt and wicked souls in this country.

jpphilips:




Obviously, you are not alright, I won't write this nonsense you wrote in primary school, the sad part is the height you spewed the nonsense with so much confidence meaning that you have reached the climax of your emptiness, Let me advise you for free, it is a forum no doubt but you can spare us your emptiness by limiting your participation at the celebrity threads, even Seun will appreciate that gosh!!
Must everybody make a comment, if you have no idea what the subject is, just shut the fvck up!!

VocalWalls:


Many of you are just saying nonsense. Is it America that hiked the price of the dollar?

The problem is with the system, how are we sure the yuan won't go as high as 80 in the parallel market?

So when it gets to that, we then jump to cefa instead of fixing the system. Are we this dull?

NgeneUkwenu:
Currency Deal With China To Crash The Dollar By 70% !

President Buhari doesn't have "certificate" but he sure knows how to make things happen and do what some heroes with unproven Ph.D. can't even dream of...

1. As President Buhari and CBN Governor, Emefiele moved closer to actualizing their promise to strengthen the naira against the US dollars

2. By signing a landmark currency deal with the Industrial and Commercial Bank of China Ltd on Tuesday in Beijing, China.

3. The agreement will allow Nigerian who imports mainly from China conclude their transactions in the Chinese currency instead of the dollar

4. The new agreement would see Nigeria-China trades, which accounts for over 70 percent of imports into Nigeria, concluded in the Yuan.

5. Until now over 90% of int'l trades between Nigeria & the world is done in dollars, & in the process putting so much pressure on the naira

6. Nigeria imports almost all it needs from the West, Middle East and Asia.

7. The CBN is expected to diversify a huge chunk of Nigeria’s foreign reserve from the dollars to the Yuan to perfect the agreement.

8. “It means that the renminbi (Yuan) is free to flow among diff banks in Nigeria, & the renminbi has been included in the FXR of Nigeria,”

9. FXR means foreign exchange reserves

10. Lin Songtian, director general of the African affairs department of China’s foreign ministry, told reporters in Beijing ...

11. .. a few minutes after the agreement was signed between the Governors of the nations’ reserve banks..

12. in the presence of President Buhari & President Xi Jingping of China, who is hosting Buhari and top Nigerian officials to a state visit.

13. Lin said a framework on currency swaps has been agreed with Nigeria, making it easier to settle trade deals in Yuan.

14. China has signed currency swap deals with countries ranging from Kazakhstan to Argentina as it promotes wider use of its Yuan.

15. Nigeria would become the clearinghouse for Yuan denominated transactions for the whole of Africa following the agreement.

16. Beijing also signed agreements to develop infrastructure in Nigeria, part of a drive to deepen its ties with Africa.

17. It has offered Nigeria a loan worth $6 billion to fund infrastructure projects.

18. Also, ICBC signed a $2 billion loan deal with Dangote group, to fund two cement plants it plans to build, Lin told Reuters.

19. China’s official Xinhua news agency cited President Xi as telling Buhari that there was huge potential for economic cooperation, naming

20. Naming oil, refining and mining..

21. Nigeria is also considering issuing Panda bonds (mainly Yuan denominated) as against euro bonds because they are cheaper.

This is good, better days are ahead, I'm sooo happy and hopeful right now. Nigeria shall be great again!

Miss Ngene

Montaque:
NgeneUkwenu just got an article and divided it into numbers. well done.

ISpiksDaTroof:
That means you wish for 60-70% of your population to be exterminated. The politicians are not the problem, the Nigerian people are the biggest detriment to its development. They're mostly poorly educated, thus lack foresight and are usually wicked minded.

The Nigerian people are Nigeria's biggest problem.

Classiqharry:


Sir there are equally standard Chinese goods, it depends if SON decides to do their job. In most Western countries 80% of goods on their shelves are made in China.

IVORY2009:


Yes it is, but the Nigerians that are supporting the deal, if you ask them quitely, you will discover that they dont fancy chinese products, perhaps even you tooo, would you want to take your hard earn money to buy a China phone? Rather than Iphone, Motorola, Samsung, Nokia etc, also China Shoe, rather than Italian make, China Wrist Watch, rather than Swiss/Italian make...... This people supporting the agreement, go to their houses, you can never find any Chinese Products

gare:



We all have been shouting diversify the economy, but with this deal I don't see how it will help diversify the economy, because this will promote so much import from China that is what the Chinese stands to gain from this deal why we flood our country with Chinese goods.

So what's the celebration about this deal has taken us backwards

manny4life:


Oops, is this a reply to @ISpiksDaTroof ? Mr ITK...

Lmao... Hang on, I'm just getting started

989900B:


And all those brands you just mentioned are made in China, or Vietnam.

BTW, the whole world buys from China these days. And yes, China has come of age.

IVORY2009:


Nokia = Finland
Iphone =US
Samsung = Korea
Motorola =US
etc but there are China version, would u prefer China Nokia to that of Finland?

ROFLMAO: Delete or edit your post.

aloeman15:

In two sentences you've summarised the entire fate of this policy and its future effect on our economy.
Our import-driven, oil-based economy.
Look, just plan for a safety net for yourself and your loved ones, because this country has just signed its economic death warrant.

mildflame:


Mainstream economist like who? The World Bank, IMF or who excatly? How many economist foresaw the global meltdown? Did it have any effect on the CHINESE RUSSIAN and INDIA government?
How many financial CROOKS in wall street have u seen jailed?
PMB u are on track, developed your indigenous policy, stick to it n DAMN all "text book recommendations from so called MAINSTREET ECONOMIST", n watch naija smooth sail into El-Dorado economically.

mildflame:
The BLACKMAIL is on, IMF wants FOREX policy changed

Mynd44:

If we do more of our importing from China, we will save a lot of strain on our local currency against the dollar by trading directly in the Chinese currency.

It is really a matter of demand and supply. Less people need the dollar for less strain.

ISpiksDaTroof:
So, why are most schools in your country roofless? Why are the drainages relics of medieval 1st century Europe? Why are most roads substandard? Don't you have the "expertise" to do these simple things?

KissCODE:
i am fully in support of this move by Buhari. however, i thought buhari should have sort for more ways of helping other nigerian business men have access to chinese market & get soft loans too other than dangote. Because taken Dangote everywhere & making him influence of fg to acquire more loans kills every kind of competition.
Buhari government have really tried but i am yet to see how this move will help grow our local industry, what i see is encouragment for import than export from china.
This will backfire soon if there is nothing for local manufacturers to gain from this.

Seun:
I have no problem with trade deals, but anyone who thinks this will strengthen the naira is confused. The only thing that will strengthen the naira sustainably is if we export more (or if the price of oil recovers). Our honourable president's well intentioned voodoo economics didn't work the last time and won't work this time either. He needs to listen to mainstream economists and follow their recommendations. Economics works.