veekid:
Buhari is working

veekid:
Buhari is working

macaranta:
Its a bit early....budget was just signed some days ago

JBismarck:
The Naira is in coma, it needs some time for revival.

Lalasticlala Mogidi

veekid:
Buhari is working

sage50:
End times, lets blame GEJ. In 2019 if Nigerians have any sense. When its time for campaign. Attend apc nd pdp rallies nd lynch those politicians. Enuf of suffering and smiling

Chinaimporter:
The naira will fall further against the dollars not rise...since the budget has been signed..the would be a massive inflow of naira into the system...contractors will be paid who will then in turn rush to obtain dollars in other to import goods and construction materials...this huge demand for the dollars will push up the cost of dollars..my prediction is that in one month 1 dollar will be equal to 360 naira

shevon:
A budget that was signed when? How long did it take for NGN to slide from N218 to the present rate? 3 days?
I keep saying this and I always will, I don't belong to any party but we Nigerians are the architect of our present predicament. We always want magicians as policy makes and if Professor Pella had contested for any political office, we'd not have cast one vote for him.
This write up is premature as far as I'm concerned.

Henryadaku:





Cock sucking bastard.....Mr predictor go and die if that's your wish for Nigeria fool

helpee:
there is nothing magical about it. Simple economics. It just shows the investors dont trust the budget . When news break, currencies all over the world react either positively or negatively. For example, if they believe the signing of the budget will strengthen naira against dollar, speculators holding dollars will want to sell in anticipation of rise in naira. Investors can inject money into the system in anticipation of govt spending for their products and services. This can happen in minutes self. It has nothing to do with implementation. So, if the naira is not excited the budget is signed, it means investors dont believe in your budget and that is not too good a news

OLADD:


It shows you no little or nothing about economics. One second is enough for a reactionary impact on the value of Naira. All over the world, monumental /colossal economic or political decisions (one of which is budget signing ) trigger almost immediate market reactions but in case of Nigeria, nothing changes.

veekid:
Buhari is working

divineappo:
Pls who determines the value of d naira in d parallel market? Pls dont tell me its forces of demand and supply, dat economics bullshit is wat d elite uses in destroying dis nation.

Chinaimporter:



It is not my wish but it is logical and well grounded in fact

helpee:
there is nothing magical about it. Simple economics. It just shows the investors dont trust the budget . When news break, currencies all over the world react either positively or negatively. For example, if they believe the signing of the budget will strengthen naira against dollar, speculators holding dollars will want to sell in anticipation of rise in naira. Investors can inject money into the system in anticipation of govt spending for their products and services. This can happen in minutes self. It has nothing to do with implementation. So, if the naira is not excited the budget is signed, it means investors dont believe in your budget and that is not too good a news

seguntijan:
The Niger Delta militants should clap for
themselves . Well-done guys! You say u r fighting for an injustice against your people for polluting your lands and water as result of pipeline linkages and you r blowing up major oil pipelines to litter the entire lands and water. You say u r fighting against poverty in ND and you r reducing to nothing your supposed state allocation from the 13% oil derivations, to the extent that a small state like Bayelsa with only 8 local govt can no longer pay its workers for the past 8 months now. You say u are fighting against massive unemployment of ND youths and you r chasing out investors out already in your lands by blowing up their infrastructures, and announcing to them the hostility of siting any sort of oil company in your environs. Crude oil is Located in ND, but Dangote is building the world's biggest Mega refinery of 650,000brrl/day capacity in Lagos. I just read again another Igbo man from SE building another 150,000brrl/day refining capacity in Lagos, and i asked myself, 'Why Lagos again? Why not in any of the ND oil rich states?' The answer is very simple. Becoz these guys are intelligent investors, they would even prefer to import crude from abroad at international price into their refineries than site their refineries in ND where criminals called Militants will incessantly blew up their oil pipelines to disrupt their production. The cost of importing crude oil even from abroad can never equate the cost of constant ly repairing their broken oil pipelines. Please can someone tell me who are now the real enemies destroying ND?
The govt, the Investors or the militants?

989900:


The CBN is coming for those dollars soon (one way or the other . . . Argentina style, or some other more reasonable and diplomatic style). The CBN will crash the rates . . . hoard the dollar to your detriment.

It is risky business to allow banks with nothing to show for it, have that much money in their coffers.

Henryadaku:





Cock sucking bastard.....Mr predictor go and die if that's your wish for Nigeria fool

lazeal:
The budget, which was signed four months and two weeks after presentation, inspired hope in the Nigerian people, but the naira will have none of that, at least for now.

The naira traded at 321 in Kano on Friday, and sellers are trading at relatively the same price on Saturday.

In Abuja however, the naira traded between 321 and 322 from Thursday till Saturday.

Pounds was also trading between 464 and 467 in Nigeria’s commercial cities – Lagos, Kano, Abuja and Port Harcourt.

Speaking at the budget signing on Friday, Buhari said his government, “like no other”, would change the Nigerian economy.

“This government is like no other. We are absolutely committed to changing the structure of the Nigerian economy once and for all,” he said.

Joseph Nnana, deputy governor, financial system surveillance of the CBN, had earlier said that the naira will rise once the budget is passed.

“Distinguished chairman sir, we have $20bn lying idle in various domiciliary accounts of many customers at the various banks across the country,” he had said.

“This is part of the reasons why the naira has continued to slide against the US dollar. The CBN will embark on aggressive liquidity mop-up to enable the naira regain confidence.

“The CBN will not sit down and watch the consistent fall of the naira. After the passage of the 2016 budget, the naira will begin to bounce back. Those who speculate on dollars will have their fingers burnt.”

The naira has shown no reaction to the signing of the 2016 budget, however, analysts believe that the naira will “marginally recover” against other foreign currencies through the implementation process.


source: https://www.thecable.ng/naira-unchanged-signing-budget

penzino:
Let's just pray for our father land...

God bless me!
God bless you!!
God bless PMB!!!
God bless Nigeria!!!!


We shall rise again, against all odds.........

Henryadaku:





Cock sucking bastard.....Mr predictor go and die if that's your wish for Nigeria fool