Stats: 3,189,499 members, 7,937,437 topics. Date: Monday, 02 September 2024 at 03:08 AM |
Nairaland Forum / Nairaland / General / Politics / Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg (43553 Views)
Kanti Bello Says President Buhari Has Failed, Regrets Inviting Him To Politics / Aisha Buhari Takes A Walk With Her Grand Daughter (Pictured) / Buhari Takes Water As Osinbajo, Saraki And Chief Justice Take Juice (pic) (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (13) (Reply) (Go Down)
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by jmichlins(m): 3:39pm On Apr 21, 2016 |
Intrepid01:you devalue to increase export right now we have nothing to export. We still need to import basic infrastructure like power so no gain in it 6 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by macaranta(m): 3:41pm On Apr 21, 2016 |
NDPVF:IPod Blomberg |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by NavierStokes(m): 3:41pm On Apr 21, 2016 |
Abagworo: Ghana is a country I have listed, they made tremendous progress from where they were in the 80's to where they were in the 90's and 2000's before the current spate of corruption etc is threatening to cripple them. Nigeria on the other hand... if in doubt google Ghana and Nigeria economic indices, and compare the stats on a per capita basis. 1 Like 1 Share |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by Spyman28: 3:42pm On Apr 21, 2016 |
Please what do we stand to gain if we devalue our Naira? |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by AZeD1(m): 3:42pm On Apr 21, 2016 |
NavierStokes:The government doesn't have enough dollars that's why it is rationing. Devaluing the Naira would not increase the price of Oil so the government would still not have enough. |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by TonyeBarcanista(m): 3:45pm On Apr 21, 2016 |
AZeD1:You are only speculating |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by NavierStokes(m): 3:45pm On Apr 21, 2016 |
AZeD1: with devaluation more dollars comes in, from foreign investors, speculators as well (remember $20 billion is sitting idle in banks), plus if we also get our diversification well, increased exports etc. moreover you are still fixated on Oil, as a suggestion how about the government grows our production at least to the benchmark production of 2.2 million bbls per day from current 1.6 million bbls per day, that's also increased dollar revenues. 1 Like |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by Guyman02: 3:46pm On Apr 21, 2016 |
Bloomberg spends most of their time calling for devaluation of the Naira, this the umpteenth article from the western media as part of the pressure on the President who has suddenly denied agreeing to a currency swap with China following the visit of an American delegation led by Samantha Powers 5 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by mmsen: 3:46pm On Apr 21, 2016 |
NavierStokes: Ghana may have made progress but Nigeria now (or at least as it was in 2014) is significantly better than it was in the 90s. IMF guidelines do not always work - their allegiance is always to the lenders over the borrowers hence why nations like Brazil, South Korea, Thailand and Russia were all made worse off after dealing with the IMF. 6 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by enlightenedmind: 3:46pm On Apr 21, 2016 |
Whether we devalue or not we will remain the same. It will only benefit others. So why people are fighting for this is alien to me. Please i advice people go through some simple economics before supporting economic policies. Devaluing now does nothing to us. The dollar will only rise if Nigeria devalues. If Buhari devalues now we are ultimately poorer. We have d China deal already so the question of devaluation is off the table. That id double indebtedness. 5 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by InvertedHammer: 3:48pm On Apr 21, 2016 |
TonyeBarcanista:/ There are no benefits. \ 1 Like |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by enlightenedmind: 3:48pm On Apr 21, 2016 |
mmsen: I just pray that these people supporting devaluation are paid crowd. Because if there are illiterates that do ot understand why we cannot devalue our currency living in Nigeria. Then our problem is worst than we thought. These western people should just shut up. 2 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by anonimi: 3:48pm On Apr 21, 2016 |
Same old, same old from DullardPoo. How did the zombies buy the FAKE packaging of a man who could not increase his 150 cows for decades? We don buy market till 2019. www.nairaland.com/attachments/3515036_image_jpeg9f360c5ab7736510df54c882e9dbf188 www.nairaland.com/attachments/2095210_worst_jpeg588f192a23aa02a7b350a8bbe5d18306 |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by AZeD1(m): 3:49pm On Apr 21, 2016 |
NavierStokes:This is all speculation. How did IBB's sap work out for the country? |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by Truth234(m): 3:49pm On Apr 21, 2016 |
NavierStokes: Everyday gym routine ![]() |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by enlightenedmind: 3:49pm On Apr 21, 2016 |
Devaluation is off the table. We have swapped with China. Any devaluation reduces the value of what we get from China for what we borrowed. |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by phantom(m): 3:49pm On Apr 21, 2016 |
AZeD1: God bless you!!! |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by crudacruzy(m): 3:50pm On Apr 21, 2016 |
[color=#006600][/color] hmm |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by Guyman02: 3:50pm On Apr 21, 2016 |
NavierStokes: At bolded, go to Libya and tell them that the West cares about their interest with hundreds of thousands of their citizens dead to western bombs, their economy in shamble, their country a failed state, their money frozen and stolen by the west and see if they wont stone you. 3 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by Babalegba(m): 3:51pm On Apr 21, 2016 |
TonyeBarcanista:And pray tell me,what goods are being exported by Nigeria apart from oil.Devaluation will result in cheaper oil for the westerners.We have nothing to export 3 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by NavierStokes(m): 3:51pm On Apr 21, 2016 |
AZeD1: You still don't get the point about IBB's SAP we have stated it on this thread, for IBB it was more about the corruption to "chop" the money than to truly make any reforms. IBB was the problem if you think otherwise tell me what the IMF recommended at the time that seemed stupid. 1 Like |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by AZeD1(m): 3:54pm On Apr 21, 2016 |
NavierStokes:Can you with a straight face right now tell me there are people who won't feast on whatever extra money the country gets? |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by Nobody: 3:55pm On Apr 21, 2016 |
Am not a buhari zombie , but am solidly behind you on this one baba, American $ will cry soon with this China- Nigeria currency deal, baba dullard is playing chess , imf is playing checkers, well done baba. |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by InvertedHammer: 3:57pm On Apr 21, 2016 |
/ That moment Africans believe that the western economic prescriptions is because they care about Africans ![]() ![]() ![]() Borrowing from China is a smart move. Nigeria bypassed the middlemen. US and the rest borrow from China too to lend to third world countries. Over all, Nigerians are like alcoholics. Give an alcoholic N100 or N1000, his next stop will be in a bar living it up. \ 2 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by kajoula(m): 3:57pm On Apr 21, 2016 |
![]() ![]() ![]() ![]() ![]() 1 Like 1 Share
|
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by nsedet: 3:58pm On Apr 21, 2016 |
I'm part of the so called " wailing wailers" but I don't get it, why devalue when there are restrictions on importation of some commodities. Doesn't make sense to me to devalue. 1 Like |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by tinsel: 3:58pm On Apr 21, 2016 |
Why are the western countries so much interested in this naira devaluation? Because they want to flood the country, grab and run away. 1 Like |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by Guyman02: 3:58pm On Apr 21, 2016 |
NDPVF: Has there ever been a time that investors rushed to Nigeria because the Naira was devalued? Dont be deceived by Oyibo economics and articles sponsored by Portfolio speculators which people like you call 'Investors', our case is peculiar. Arabs fell for the Arab Spring and helped the west to murder their leaders in Iraq and Libya and deposed others in Egypt while engaging in western backed war of regime change in Syria, has it made them richer, has it not turned them into refugees in Europe who are abused, left in the open border between Greece and Macedonia with thousands drowning? 4 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by ibadanfinest(m): 3:58pm On Apr 21, 2016 |
Tonyebarcanista I don't know the economics you did, maybe u borrowed it in 100 and 200 level or u relying on your secondary skul plus the one you learnt online. If we devalue our naira officially what are we going to be exporting. Crude oil not even refined product. Truth be told, we need to fashion out our own model of economics development, the one laid out by foreign economist will most likely not work for us. Let's learn from the Asian miracle country like China, Singapore etc who looked inward and come up with a developmental model that suit them. IMF and other western country are not interested in helping us to develop. They will only advise us to do what may be good in the short run, while they will be better in the long run while we will be worse in the long run. Am sure when SAP started it appear like a good policy, but now we know better. Plus how has the previous devaluation helped us. Is it not madness for us to do same thing and expect different result. 9 Likes 3 Shares |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by Truth234(m): 4:01pm On Apr 21, 2016 |
AZeD1: No, not speculation, CBN said $20 billion idle in private accounts, remember our foreign reserves is just $27 billion now. With additional $5 billion of idle $20 billion in circulation, goodbye to forex scarcity but private businesses are not ready to risk such amount yet. http://www.dailytrust.com.ng/news/general/-20bn-idle-in-private-accounts-cbn-says/136532.html |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by onetouch04: 4:01pm On Apr 21, 2016 |
TonyeBarcanista:Since the enormous benefits are not immediate i believe u are insinuating petience for the long term benefits. How is it that u want to be patient for d benefits of what we have applied severally without results but u wont be patient to wait for economic benefits of improved domestic productions and economic diversification which is one of the cadinal programs of the PMB led administration. Pls to put us on a better stand, mention those economic values that would come with devaluation. Pls its important. 3 Likes |
Re: Nigeria Economics Loses To Politics As Buhari Takes Naira Stand – Bloomberg by nextstep(m): 4:01pm On Apr 21, 2016 |
NavierStokes: In summary: - the voters, i.e. Nigerians, don't want devaluation; we don't want IMF; we don't want foreign speculators (masquerading as investors) - we are grumbling, but mostly hopeful of the future - we are begrudgingly proud of our President for standing up for us, against the interests of the West - the President is carrying out the wishes of Nigerians - the West is wailing ... Thankfully they can't stage or support any coups this time since he was democratically elected, so all they can do is attack his policies in the media. They say he's playing politics, what about politicians in the West? Don't they say and do things solely to get re-elected? Abeg, take your yeye analysis and face your country. ![]() 1 Like 1 Share |
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (13) (Reply)
President Buhari And Senate President Saraki Strike A Pose (photo) / Nnamdi Kanu: Nnia Nwodo Will Lose His Position. Sultan Has 23 Oil Wells / I’ll Go All Ways To Get Back My Mandate – Peter Obi
(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. 48 |