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Naira Finally Devalued To N290/$ By Buhari - Business (2) - Nairaland

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Re: Naira Finally Devalued To N290/$ By Buhari by Nobody: 1:04am On May 14, 2016
dest4real:
Guys,

Does it mean that the official (CBN) naira-dollar exchange rate will now be 290/$ ?

Interested also.
Re: Naira Finally Devalued To N290/$ By Buhari by kennyman2000(m): 1:11am On May 14, 2016
StainlessH:

Interested also.
Yes. banks rate will as well go high and aboki rate as well.
Re: Naira Finally Devalued To N290/$ By Buhari by tammie24: 8:46am On May 14, 2016
This administration will be known as the worst ever in the history of Nigeria


Imagine planning all these in secret not giving citizens a clue what is about to befall them


Everything is done in secret


Citizens find out after it's done


So what changed his mind?


Those that applauded him when he didn't will praise him now and give reasons for that

I believe God has a purpose for this country but not in Buhari's administration!!!

4 Likes 1 Share

Re: Naira Finally Devalued To N290/$ By Buhari by Karm16: 8:46am On May 14, 2016
ononujuchika:
This buhari has no single truth in his mouth!

Tufiakwa!old man lying p and down.

Weren't you mad last week when he said he wouldn't?
Re: Naira Finally Devalued To N290/$ By Buhari by olimeh13(m): 8:48am On May 14, 2016
That's is not true.. Look at today's exchange rate

Re: Naira Finally Devalued To N290/$ By Buhari by LockDown69(m): 8:48am On May 14, 2016
Chai!!!!! cry cry cry
Re: Naira Finally Devalued To N290/$ By Buhari by Goahead(m): 8:48am On May 14, 2016
Why Buhari

Sai Buhari rather cheesy
Re: Naira Finally Devalued To N290/$ By Buhari by Opharhe: 8:49am On May 14, 2016
Osinbajo!!! You don tok am before.... Make una Kontinu o! #Change Indeed
Re: Naira Finally Devalued To N290/$ By Buhari by hresso: 8:50am On May 14, 2016
It's a tough world we live in.
Re: Naira Finally Devalued To N290/$ By Buhari by Capernaum(m): 8:50am On May 14, 2016
It is well.
Re: Naira Finally Devalued To N290/$ By Buhari by lollmaolol(m): 8:52am On May 14, 2016
Well, may things not be difficult for us
Re: Naira Finally Devalued To N290/$ By Buhari by Nobody: 8:52am On May 14, 2016
this government is to be for d people not for themselves... nawa ooooo
Re: Naira Finally Devalued To N290/$ By Buhari by Nobody: 8:54am On May 14, 2016
In a way, the resource chickens have come home to roost.

When your economy is dependent on oil....you run out of revenue to spend once the price falls.

And it is not just oil.....it can be minerals, agricultural produce, etc.

Nigeria is paying the price for decades of just being dependent on one steady source of revenue...when we should have diversifed our portfolio (like every wise business man).

I won't judge/blame Buhari for this current problem we are in.....but I would blame him if he does not do the needful and spend more on power, refienries, transport and educaiton...so that we can be a manufacturing society....ie be in a position to diversify our portfolio. And I would even blame him more if he does not use our raw materials as the basis of our manufacturing.

South Korea took loans in 1960's .....to improve its manufacturing. Now....South Korea has nothing much in terms of raw materials...which is why they had to rely on manufacturing....Nigeria has that. But let us not let our abundance of raw materials decieve us. Our road to prosperity lies in using those raw materials as the fuel of an innovation based economy.....not as a means to get cheap chicken feed to buy imports.

1 Like

Re: Naira Finally Devalued To N290/$ By Buhari by Adminisher: 8:57am On May 14, 2016
Brainaic:
Is this not the same people that were spitting blood that they will never devalue the naira? And someone will still address Buhari as a man of integrity. This Government keeps on disgracing itself. One step forward, several steps backward.

Watch out as all those people that were defending the Presidency's stand on devaluation begin to make excuses and explain to us why this is the best decision ever made!
PDP wanted devaluation. They were calling him a DULLARD and some one who does not understand MODERN ECONOMICS.
Now this is modern economics. What has been the reaction of PDP?. Please tell me. It is important to see their reaction to this
Re: Naira Finally Devalued To N290/$ By Buhari by whitebeard(m): 9:00am On May 14, 2016
guys guess what

Re: Naira Finally Devalued To N290/$ By Buhari by princefaculty(m): 9:02am On May 14, 2016
The new and better definition of clueless. No foresight, very poor economic plan but very good at dictatorial moves with a one sided corruption fight... That was the 'change' some empty skulls begged for.

1 Like

Re: Naira Finally Devalued To N290/$ By Buhari by ekpotek: 9:02am On May 14, 2016
We all know that black market cannot meet the demand for dollar by Oil marketers to import fuel. I guess devaluation of the naira is the only way CBN can sell dollar to Oil marketers at N285/$1. When secondary market rate is N370/$1. In orderwords fuel sacarity have forced Buhari to devalue the naira and not IMF. So they should not blame IMF but their uneconomic forex policy.

1 Like 1 Share

Re: Naira Finally Devalued To N290/$ By Buhari by hollyfat(m): 9:03am On May 14, 2016
In Lie Muhammed voice "The devaluation of Naira will create 500,000 jobs"

3 Likes

Re: Naira Finally Devalued To N290/$ By Buhari by jzdoberman: 9:13am On May 14, 2016
A New Sheriff Is In Town! ---Zombies.

Clueless dictator, he go dey Flex muscle on civilians!

3 Likes

Re: Naira Finally Devalued To N290/$ By Buhari by BetaThings: 9:21am On May 14, 2016
MasterofNL:


They have no shame especially omenka/fiizznation...

After sai baba has finished beating his rusty chest out of shape, he has finally removed fuel subsidy and devalued the naira.

Buhari has no shame just like his lackeys on nl..

So Sahara Reporters can now be believed?

2 Likes

Re: Naira Finally Devalued To N290/$ By Buhari by Brilliantlights(m): 9:22am On May 14, 2016
Oh Fela...You were a prophet

1 Like

Re: Naira Finally Devalued To N290/$ By Buhari by repogirl(f): 9:23am On May 14, 2016
Kikiki.... Where art thou, O Zombies? grin


I nobtalk am? Pikin wey refuse to greet him elder, dem go flog am mercilessly and after he cry finish, he go waka go greet that elder!
Re: Naira Finally Devalued To N290/$ By Buhari by yinkslinks(m): 9:30am On May 14, 2016
Bros pls if its N290 from cbn, how much will black market sell?
222Martins:
E Don Happen Oh!!!!!!!! Rain or Sun, Subsidy or Devaluation; I am making money this year. Who's with me? grin grin grin grin grin
Re: Naira Finally Devalued To N290/$ By Buhari by Zzyco: 9:31am On May 14, 2016
Tb joshua talk am sha..
Re: Naira Finally Devalued To N290/$ By Buhari by chubbygal(f): 9:34am On May 14, 2016
Chineke kpóó Buhari oku. To zombies

1 Like

Re: Naira Finally Devalued To N290/$ By Buhari by Nobody: 9:38am On May 14, 2016
When Barrack Obomber vowed to pressurize Buhari into devaluing the Naira, how many people asked how he intended to pressurize the President? Well I guess Nigerians didn't ask why media outlets started attacking the president from all angles. The Fulani herdsmen were not actually herdsmen but terrorists trained and assisted by American government. In fact, some Nigeriens (not Nigerians) were caught in Agatu. They went to Agatu with helicopter to drop weapons and food items for the terrorists and they were caught by the Agatu people, tied up and killed. Their helicopter was burnt and the burnt helicopter is still in Agatu for confirmation purposes. The so-called Niger Delta Avengers are also trained and assisted by the US. If Buhari bows to these people, then I'll be disappointed in him. I am dissatisfied with the Nigerian Armed Forces and the DSS. The DSS has shown that it lacks the ability to gather good intelligence and nail internal threats right from their roots. If I were Mr. Buhari, I would have silently silenced a lot of people. I would also divert a lot of money meant for other projects into upgrading the DSS and the Armed Forces. I know all these are easier said than done especially in democracy but Nigeria's situation requires some iron fists.

1 Like

Re: Naira Finally Devalued To N290/$ By Buhari by LaExpert: 9:47am On May 14, 2016
Another reason you shouldn't completely trust politicians.


“I will not devalue the naira”
www.vanguardngr.com/2016/02/i-wont-devalue-naira-buhari-insists-2/

Can we call Buhari a 'weak' president?
Re: Naira Finally Devalued To N290/$ By Buhari by hallelluyah(m): 9:50am On May 14, 2016
But these APC people should SHAMELESSLY take a bow and leave the government, it is crystal clear nothing good can come from these shameless liars!
Re: Naira Finally Devalued To N290/$ By Buhari by nortcentrallord(m): 9:52am On May 14, 2016
Can any Zom*bie prove his or herself intelligent enough to stand up to the defense of the man with their remote control on this subject matter please?

Any one? Any one? ...
Re: Naira Finally Devalued To N290/$ By Buhari by masseratti: 9:53am On May 14, 2016
Please mr President dont fix any rate for the exchange rate, just leave it as it is now, let the market forces dictate.
Re: Naira Finally Devalued To N290/$ By Buhari by Saintp(m): 9:58am On May 14, 2016
NaijaTalkTown:
When Barrack Obomber vowed to pressurize Buhari into devaluing the Naira, how many people asked how he intended to pressurize the President? Well I guess Nigerians didn't ask why media outlets started attacking the president from all angles. The Fulani herdsmen were not actually herdsmen but terrorists trained and assisted by American government. In fact, some Nigeriens (not Nigerians) were caught in Agatu. They went to Agatu with helicopter to drop weapons and food items for the terrorists and they were caught by the Agatu people, tied up and killed. Their helicopter was burnt and the burnt helicopter is still in Agatu for confirmation purposes. The so-called Niger Delta Avengers are also trained and assisted by the US. If Buhari bows to these people, then I'll be disappointed in him. I am dissatisfied with the Nigerian Armed Forces and the DSS. The DSS has shown that it lacks the ability to gather good intelligence and nail internal threats right from their roots. If I were Mr. Buhari, I would have silently silenced a lot of people. I would also divert a lot of money meant for other projects into upgrading the DSS and the Armed Forces. I know all these are easier said than done especially in democracy but Nigeria's situation requires some iron fists.

Lol

1 Like

Re: Naira Finally Devalued To N290/$ By Buhari by Nobody: 10:03am On May 14, 2016
Which way bro, it becoming more clearly to see the difference educated president and uneducated president




i rest my case. No offence
jmichlins:
Forget my vote come next election

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