Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,197,232 members, 7,964,026 topics. Date: Wednesday, 02 October 2024 at 06:01 AM |
Nairaland Forum / Nairaland / General / Politics / IMF Wants Buhari To Change His Forex Policy (29473 Views)
2019: North Wants Buhari, Even On Wheelchair –ACF Chieftain / 10 Things El-rufai Wants Buhari To Do In His Letter To The President / Man Wants Buhari, Nigerians Dead Over Fuel Scarcity (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: IMF Wants Buhari To Change His Forex Policy by ojuolu(m): 6:15pm On Apr 15, 2016 |
persius555:Bros, you are spot on. I agree with you in totality. Both east and west really care less about our development. It is indeed bad news either way. But the issue is we have what they need. The way are taking it from us is what we should watch. What do we have to show for all those years of neo colonist west policies, further impoverished people and economy. But like you said, let us try different remedies from the stuffs we have been swallowing all these years, but carefully too. 2 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by repogirl(f): 6:18pm On Apr 15, 2016 |
hadura29:don't be naive, diversification doesn't work this way. For diversification to work, some things have to be put in place. It will not appear overnight by itself. Other structures (stable electricity, policies and incentives that encourage the local manufacturer among others) need to be put in place. Even if the structures are in place, you still need raw materials and some other things which a manufacturer will need to source from other countries. To do this, one needs forex. As long as forex is not readily available, forget your diversification theory. Whether you like it or not, you need money to make money and it's not naira we are talking about. Lastly, I don't work with IMF, I am just a concerned citizen. 3 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 6:22pm On Apr 15, 2016 |
musicwriter:Go to school you won't agree. So you mean an organisation like IMF will lobby Genevieve and Orji....FOR WHAT IMF doesn't deal with individuals my friend. Who is Genevieve for IMF to lobby around and nt Dangote....THINK Am ASHAMED of you. She likes genevieve for reasons she knws best and decided to host them. Get off my comments abeg!, you knw nothing. 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by Justicealh3(m): 6:25pm On Apr 15, 2016 |
Waka waka.... She most be out of her sense..... 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by grandstar(m): 6:33pm On Apr 15, 2016 |
la1: Imagine a teenager is staying with your aunty. Her stomach is protruding which it was not 6 months before, she has gained weight and her breasts are bigger. Her eating habits are irregular. Then imagine you suggests to your aunt that she is most likely pregnant and your aunt says its not possible. Will you be dumbfounded? You'll probably wioll. The IMF like you in the fictional story I just gave you is simply pointing out the obvious! It is shocking when simply reject the obvious. Buhari refused the naira to depreciate at the official rate. What happened at the black market was even was than a devaluation: the currency crashed to 320 (even touching 397) at one time! Unfortunately for you and me, many goods are priced at the black market rate so inflation is rising very fast. Its the highest it has been for 4 years. If Buhari had allowed the currency to depreciate, it poorobably would have settled at around 250 and the black market 255. The refusal to devalue has led to chronic dollar shortages has it has made the dollar tpp cheap leading to excessive demand at the official market. Also, individuals and companies with forex refuse to sell at the official rate because the price is to low. Who is pleased receiving WU at 197? Not me. One of the causes of the epic and persistent petrol scarcity is the scarcity of forex by provate oil marketers to import petrol and augment government's effort. The weight is too much for the government to carry. Soludo, Sanusi and Utomi have all ciondemned Buhari's policies! The naira should touch 400 at the black market if he does not devalue. The economy is doomed! 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by JayJustus(m): 6:33pm On Apr 15, 2016 |
all I want to say to madam Largade is this meme I made of myself....finally got to use it... side note: THUNDER FIRE IMF 1 Like
|
Re: IMF Wants Buhari To Change His Forex Policy by musicwriter(m): 6:34pm On Apr 15, 2016 |
herbie27: This's my last reply to you, and I'm not really doing it for your sake, but to keep as much people as possible informed on this wonderful forum. Here's Ms. Lagarde with Genevieve in Nigeria few weeks ago. Here's Ms. Largarde with Orji Uzo Kalu in Nigeria 2 or 3 weeks ago. This is just to name a few I can remember immediately. No matter what you do some people just choose to be dumb. Goodbye. 3 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 6:35pm On Apr 15, 2016 |
Guyman02: Very smart fellow. I have observed after reading most comments on here that most Nigerians are oblivious of history. I'm certain you have read the book The Confessions of An Economic Hit Man. In all honesty, I see IPOB movement gaining momentum any moment from now as you said, even on CNN. Same with Kanu exposure to all foreign media! I said this before and will say it...there are strong forces in the world behind Nnamdi Kanu, that's why he is that bold, insults anybody including Camer0n and 0bama, and still got visa to enter US. Lol! His bodyguards and security detail about 4 or 5 are armed foreign intelligence trained I read...follows him around the world even in his kitchen. Lol! He is very certain IPOB will come...he is 100% certain. He knows Buhari can do him nothing otherwise I'm sure DSS would had silenced him under their custody months back. Those forces wants him in jail, so when he comes out, you have another Mandela, and the jinx is up for Nigeria. Someone, a very smart fellow also explained this in detail...he was spot on! 4 Likes 1 Share
|
Re: IMF Wants Buhari To Change His Forex Policy by 1miccza: 6:36pm On Apr 15, 2016 |
repogirl: If only she understands....... |
Re: IMF Wants Buhari To Change His Forex Policy by compujyde: 6:40pm On Apr 15, 2016 |
... |
Re: IMF Wants Buhari To Change His Forex Policy by grandstar(m): 6:55pm On Apr 15, 2016 |
NaijaTalkTown: The economy is dying because we refuse to devalue. Other commodity exporting countries have seen their countries loose vakue even developed ones like Canada and Norway. You lot that reject a devaluation have been delighted at the crash of the currency to 320! So you prefer a crash. That is what a devaluation would have prevented 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by omenka(m): 6:59pm On Apr 15, 2016 |
Goke7:I'm seeing very intelligent contributions on this thread. Glad we still have smart people on the forum. 2 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by compujyde: 7:00pm On Apr 15, 2016 |
... |
Re: IMF Wants Buhari To Change His Forex Policy by Goke7: 7:04pm On Apr 15, 2016 |
herbie27:Ngozi A better brain that have been giving funny excuses on Nigeria not saving for the rainy day. You are just a tribal bigot simple. |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 7:09pm On Apr 15, 2016 |
grandstar:We can look for other markets if the US and their Dollar is not favourable to our economy at the moment, which is what the President did. We have the option of adopting the Chinese Yuan so why should we devalue the Naira? If the economy is crashing, it is the problems of Nigeria not Us or IMF. It is our economy and whatever our President decides to do with is is none of IMF's business. We can decide to partner with the Chinese to develop our infrastructure and strengthen our economy whenever we want. We can also decide to strengthen military cooperation with the Russians to boost our defense capability whenever we want. Even those who voted Jonathan out supported him to look the Russian way when the Americans refused to help us militarily against BH. It is our country and how we run it is not anybody's business. #NoToColonialism #NoToImperialism #StandWithBuhari #Fight4Naija #GodBlessNigeria #Naija4Life 2 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by Guyman02: 7:09pm On Apr 15, 2016 |
uduak2016: I give you an excerpt of John Perkins (Economic Hit man) John Perkins in his book – CONFESSIONS OF AN ECONOMIC HIT MAN in which he said “Economic hit men (EHMs) are highly paid professionals who can cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign “aid” organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet’s natural resources. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. …..I should know; I was an EHM……Jaime Roldos, president of Ecuador, and Omar Torrijos, president of Panama both had just died in fiery crashes. Their deaths were not accidental. They were assassinated because they opposed that fraternity of corporate, government, and banking heads whose goal is global empire. We EHMS failed to bring Roldos and Torrijos around,and the other type of hit men, the CIA – sanctioned jackals who were always right behind us, stepped in. “……Because of my fellow EHMs and me, Ecuador is in far worse shape today than she was before we introduced her to the miracles of modern economics, banking, and engineering. Since 1970, during this period known euphemistically as the Oil Boom, the official poverty level grew from 50 to 70 percent, under – or unemployment increased from 15 to 70 percent, and public debt increased from $240 million to $16 billion. …….Third World debt has grown to more than $2.5 trillion, and the cost of servicing it – over $375 billion per year as of 2004 – is more than all Third World spending on health and education, and twenty times what developing countries receive annually in foreign aid….” With this background of American insatiable quest for global economic domination established by an American, who was an insider. 2 Likes 1 Share |
Re: IMF Wants Buhari To Change His Forex Policy by omenka(m): 7:17pm On Apr 15, 2016 |
Chubhie:Can't say you aren't right. The only problem is our seemingly intractable ethnoreligious divisions and acrimony- what our domestic politicians exploit to get what they want, what US and her allies who want to see us buckle would leverage on to screw us up. If only we can mend our fences, build lasting bridges, accept and embrace our differences, there is absolutely no height we can't attain as a people. Our enemies are frightful of this prospect, therefore, would do WHATSOEVER it takes to ensure we never bridge that gap. Good examples of such African leaders you talk about are Mugabe and Gadaffi (whom they ganged up to kill), sadly, Mugabe just isn't backing up his stubbornness with sterling economic performance- that country is simply adrift. |
Re: IMF Wants Buhari To Change His Forex Policy by chernest2002: 7:19pm On Apr 15, 2016 |
The game have just started let's see how it ends.The naira is already devalued in actual sense, inflation is high, food stuff., spare parts, dollar, transportation etc.so I don't know what else people take as naira devaluation , I only see rich getting richer while the poor is poorer. The rich gets the dollar for 199 and the poor consumers are paying 320 and the poor are majority, we need more experts to enlighten us cause buhari is not an economist .besides Mr president should be told the truth to give free hand to his cabinet to practice what they where thought in schools. I don't know much but i didn't like dictatorship system. |
Re: IMF Wants Buhari To Change His Forex Policy by Jyde89: 7:21pm On Apr 15, 2016 |
herbie27: And where the fu**k has Nngozi's brilliance gotten us, mr man if you cant seperate tribalsm from your argument, you are a dunce. 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by compujyde: 7:23pm On Apr 15, 2016 |
... |
Re: IMF Wants Buhari To Change His Forex Policy by grandstar(m): 7:24pm On Apr 15, 2016 |
NaijaTalkTown: The president is an economic illiterate who brought upon the country an epic petrol scarcity. Things aree sinking and you are talking China. 1 + 1 = 2 and running to China won't change the obvious. Lets see if running to China will bring the naira from 320 to 199/ Lubbish! 2 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by compujyde: 7:35pm On Apr 15, 2016 |
... |
Re: IMF Wants Buhari To Change His Forex Policy by Gaddafithe2nd(m): 7:36pm On Apr 15, 2016 |
IMF (International Mother Fucker). |
Re: IMF Wants Buhari To Change His Forex Policy by repogirl(f): 7:37pm On Apr 15, 2016 |
1miccza:who is she? |
Re: IMF Wants Buhari To Change His Forex Policy by mashnino(m): 7:39pm On Apr 15, 2016 |
Please buhari dont allow the IMF!! the only thing i am scared of now is.. I hope IMF wont resort to propaganda and turning some poeple against buhari they did it to sadam and ghadaffi.. now see where IRAQ and LIBYA are.. total mess so nigerians dont just buy any cooked up story... do your own research.... |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 7:41pm On Apr 15, 2016 |
grandstar:Hahahahahaha you sure are an illiterate. What did the President went to do in China? Will Nigeria benefit from the trip or not? If you think I would engage you in a blind argument then you are deceiving your self. I am too intelligent to engage you in a "Fayose-themed argument". Bring facts and reason and present a logical argument or you can go to the " Fayose-themed" threads on this forum and find your mates to engage in a baseless argument. 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by VocalWalls: 7:42pm On Apr 15, 2016 |
fawaz050: Because buhari is clueless. there! |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 7:50pm On Apr 15, 2016 |
repogirl:Your concerns have been noted. However, I would like to inform you that Nigeria has the raw materials it needs to diversify its economy. What it does not have is the infrastructure and political will to do so. Which is why Buhari is taking an aggressive approach towards developing the Infrastructure hence, his deal with the Chinese is mainly based on infrastructural development. We can source money from the Chinese too buy encouraging them to invest in our country directly (which is better than what our Western partners are offering us). The deal with China is a win-win for both countries. Devaluation of the Naira is a win for the West and a loss for Nigeria so Nigerians are supporting the Chinese option because Nigerians are not losers. 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by Goke7: 7:51pm On Apr 15, 2016 |
compujyde: There is strength in diversity if its well harnessed, this is the strength of a country like the united States hence the reason they also dread Nigeria whose diversity can make her quickly a global power. The almagamation is not the problem, don't we intermarry? Our ability to take advantage of our diversity for our good has been the problem over the years. |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 7:55pm On Apr 15, 2016 |
repogirl:Your concerns have been noted. However, I would like to inform you that Nigeria has the raw materials it needs to diversify its economy. What it does not have is the infrastructure and political will to do so. Which is why Buhari is taking an aggressive approach towards developing the Infrastructure hence, his deal with the Chinese is mainly based on infrastructural development. We can source money from the Chinese too buy encouraging them to invest in our country directly (which is better than what our Western partners are offering us). The deal with China is a win-win for both countries. Devaluation of the Naira is a win for the West and a loss for Nigeria so Nigerians are supporting the Chinese option because Nigerians are not losers. As for forex, US is not the only provider of forex, we can source for money from the Chinese too by encouraging them to invest directly in Nigeria which what the deal is all about and which also is a win-win for Nigeria and China and which is better than the devaluation of the Naira because devaluing the Naira against the Dollar is a won for the Americans and a loss for Nigeria and which also is the reason why Nigerians are supporting Buhari on the Chinese deal becuae Nigerians are not losers. |
Re: IMF Wants Buhari To Change His Forex Policy by enlightenedmind: 7:56pm On Apr 15, 2016 |
VocalWalls: And we take the funds are u going to pay the interest rate or what? Because u do not know the meaning of loans in the international banking system. Go and sleep Please. Read a book. |
Re: IMF Wants Buhari To Change His Forex Policy by enlightenedmind: 8:00pm On Apr 15, 2016 |
musicwriter: The difference is we are africans and we are fighting for freedom. Anybody that campaigns for western slavery will be locked up immediately without question. |
(1) (2) (3) (4) (5) (6) (Reply)
Protesting Biafran Members At United Nations Headquarters In South Africa / Demolition Of Ayefele’s Music House Divides Oyo Government / They Sold Fraudulent Muslim-Muslim Ticket To Us, Now Muslims Are Bombed - Yusuf
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 91 |