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Nairaland Forum / Nairaland / General / Politics / Failed Naira: Your Advice For The Federal Government (12849 Views)
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Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 8:15am On Aug 14, 2016 |
Every Nigerian know that the change we have experienced in the last 18 months will kill us if we don't kill it. So, as Patriots of thee great country Nigeria, 1. What steps should Buhari take? 2. What steps should Kemi Adeosun take? 3. What steps should Godwin Emefiele take? I believe that the solutions may be simple but bitter to swallow. Wise Nairalanders, over to you: 1 Like 1 Share |
Re: Failed Naira: Your Advice For The Federal Government by RZArecta(m): 8:17am On Aug 14, 2016 |
The govt and entire cabinet should tender an unreserved apology and hand in their resignations. 27 Likes 3 Shares |
Re: Failed Naira: Your Advice For The Federal Government by donbenedict(m): 8:18am On Aug 14, 2016 |
I think Nigeria can do better without a senate 3 Likes 1 Share |
Re: Failed Naira: Your Advice For The Federal Government by jaymejate: 8:23am On Aug 14, 2016 |
To the President, Focus more on Agriculture. In most of our Agric ministries or their offices nation wide, there use to be a farm machines, tractors e.t.c, available but now it's nothing there anymore. Agric is dead! To The Minister, Kemi Adeosun, She should know how they will finance Agriculture and make sure we start exporting foods to other countries. But we must fill our bellies first. Let Agriculture be the Number 1 on the budget and then Education follows. Abeg, who is Godwin Emefiele? 6 Likes |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 8:27am On Aug 14, 2016 |
jaymejate: Except for Rice and Wheat, I think Nigeria produced enough food. Even, then increasing our food supply except if you have exportation in mind doesn't solve the weakning Naira problem 1 Like |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 8:28am On Aug 14, 2016 |
RZArecta: And then, what should the new President, Finance Minister and CBN Governor do? 7 Likes |
Re: Failed Naira: Your Advice For The Federal Government by searchng4love: 8:29am On Aug 14, 2016 |
I have stopped advising people. 10 Likes 1 Share |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 8:30am On Aug 14, 2016 |
donbenedict: I agree. If the Senate is scrapped or disbanded today, Nigerian will not miss their absence. ..but you haven't given any solution to the struggling Naira. 3 Likes |
Re: Failed Naira: Your Advice For The Federal Government by donbenedict(m): 8:33am On Aug 14, 2016 |
shadeyinka:central bank should mop up excess naira chasing few goods! 2 Likes |
Re: Failed Naira: Your Advice For The Federal Government by MadamExcellency: 8:35am On Aug 14, 2016 |
He needs a new cabinet (ministers), advisers and kitchen cabinet with focus on returning Nigeria to path of growth. For instance, read the excerpts below Personalities matters The rich (no matter how they made their money) are hiding the cash and are no longer willing to invest in whatever venture for the fear that Buhari will either confiscate the cash or run them down. I want Buhari to apply wisdom when dealing with business community and investors. This is not a time to scare away investors, employers and entrepreneurs. I want him to suspend public show of fight against corruption and do it more intelligently and underground until our economy recovers. If it's possible, Buhari should give conditional amnesty to treasury looters (though this sounds absurd) to invest their loot in Nigeria within a specific time frame and this should be done in conjunction with NASS for a legal backing. We need to put back Nigerians to doing something reasonable with their lives (decent jobs) to earn a decent wage. If care is not taken, what post elections civil war couldn't do because of peaceful transition of political power in Nigeria may still be done by frustration, hunger and starvation - death, death and more death. 17 Likes |
Re: Failed Naira: Your Advice For The Federal Government by acenazt: 8:37am On Aug 14, 2016 |
MadamExcellency:kill tha naira and introduce another currency. |
Re: Failed Naira: Your Advice For The Federal Government by SUPERPACK: 8:44am On Aug 14, 2016 |
shadeyinka:it will solve it. currently the naira is falling due to its scarcity as a result dwindling export profit as a result of global crude oil price slump, coupled with pipeline vandalization by the NDA, meaning that we earn just 20% of our previous profit. Nw an increase in agricultural exportation will increase our foreign earning since they will pay us in dollars when they buy our product and this in will make dollars available to the importers and effectively crash the demanding cost of dollars. . HOPE YOU UNDERSTAND. 4 Likes |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 8:45am On Aug 14, 2016 |
searchng4love:Pls na. No vex! 1 Like |
Re: Failed Naira: Your Advice For The Federal Government by MadamExcellency: 8:46am On Aug 14, 2016 |
acenazt: I have modified the comment to explain what I meant by "take caution" Revisit |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 8:50am On Aug 14, 2016 |
MadamExcellency: Well said and supported. What really is the factor(s) that got us here in the first place? Any solution without revamping the underlining cause factors will be like pouring water in a basket. 2 Likes |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 8:52am On Aug 14, 2016 |
SUPERPACK: Seriously speaking, is there any food crop that can fetch half the income we used to make from oil? 2 Likes |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 8:54am On Aug 14, 2016 |
Nigerians expect some miracles from CBN which is impossible. CBN has the power to monitor the Naira but they have no power to regulate the REAL value of the Naira. The real Naira value is determined by the ratio of Dollar Earned: Dollar Demand by the Nation. Naira valuebwill be low if Dollar Demand is high. The only way out is to either make more Dollar income or Reduce Importation. Reduction of importation requires upgrade of local MANUFACTURING CAPABILITY! 8 Likes 1 Share |
Re: Failed Naira: Your Advice For The Federal Government by SUPERPACK: 9:05am On Aug 14, 2016 |
shadeyinka:yes we can go into massive agriculture both plants and animal and this will fetch us lots of money, the money the country earn frm crude oil is normally spent lavishly, making us believe we cant survive without do u knw that USA earns heavily frm exporting grass to saudi arabia annually, Go through the following report and you will understand better. www.exportfromnigeria.info/thread/628/exportes-earn-n556bn-non-export |
Re: Failed Naira: Your Advice For The Federal Government by SUPERPACK: 9:08am On Aug 14, 2016 |
shadeyinka:Dutch disease. google it. 2 Likes |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 9:10am On Aug 14, 2016 |
SUPERPACK: Nice one. I get your point. However, it must north be Agriculture for the sake of farming . It means that we must practice what I will call"Targeted Farming ". Where the external market determine what we plant |
Re: Failed Naira: Your Advice For The Federal Government by APCHaram: 9:11am On Aug 14, 2016 |
Why are you asking us for advice? What of all those Duara cowboys Buhari appointed into his cabinet? Abi are dey just there to occupy office? 3 Likes |
Re: Failed Naira: Your Advice For The Federal Government by SUPERPACK: 9:13am On Aug 14, 2016 |
shadeyinka:yes, did u go through the report. |
Re: Failed Naira: Your Advice For The Federal Government by MadamExcellency: 9:15am On Aug 14, 2016 |
shadeyinka: You see, socialism as a system of government cannot sustain itself without capitalism and its ills or better still "capitalism inequities". The Venezuela's problems hinges on socialism and if you take a look at APC's expanded manifesto, it was a plan bound to fail from day one. Capitalists are crooks but the symbiotic relationship they give to governments can never be overemphasized. Take a look at Western Heads of States when they travel around the world, they do that in the company of their business communities who in turn discuss with their foreign counterpart on the opportunities to invest by forming a joint venture partnerships. In the case of our President, Gen. Buhari, he hates our business community so much that he prefers traveling alone thereby squandering all the opportunities of bringing in investors that needed to partner with these so-called corrupt Nigerian business counterparts. Buhari insulted Wale Tinubu and Tony Elemelu on his first visit to USA after he learnt that the CBN Governor invited them for an occasion to interact with US Capitalists for possible investment opportunities in Nigeria. Tony Elemelu left USA for Kenya with Obama for investment opportunity. I pray Buhari embraces those he hate if they've something to offer Nigeria in order to survive this recession and economic catastrophe. 14 Likes 1 Share |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 9:17am On Aug 14, 2016 |
SUPERPACK: Dutch Desease? It first sounded likebsome new viral epidemic like Ebola and SARS. Dutch disease is the negative impact on an economy of anything that gives rise to a sharp inflow of foreign currency, such as the discovery of large oil reserves. The currency inflows lead to currency appreciation, making the country's other products less price competitive on the export market. But as a country, we had enough time to profit from it. Nigeria had been exporting oil from the 1960's. A country like UAE invested theirs, we all go to Dubai for commerce.... Kai, Nigeria! Those who reduced us to this level must face Firing Squad! |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 9:23am On Aug 14, 2016 |
APCHaram: Sometimes information like this get to them directly nor indirectly through someone who can reach out to them. Unfortunately, even though we elected them into power, we are subject to their success or failures. 2 Likes |
Re: Failed Naira: Your Advice For The Federal Government by SUPERPACK: 9:26am On Aug 14, 2016 |
shadeyinka:u knw corruption has eaten deep into the country, our failure to save enough food during the raining season(global crude price appreciation), lead to famine in the dry season(oil slump). saudi arabia has over $600 billion in their reserve due to effective resource management during the raining season but how many do we have just $27 billion, . Soludo predicted this current economic hardship bt we never gave him an ear. Pls read it, www.vanguardngr.com/2015/01/buhari-vs-jonathan-beyond-election-charles-soludo/ . HOPE FOR NAIJA 2 Likes 1 Share |
Re: Failed Naira: Your Advice For The Federal Government by APCHaram: 9:28am On Aug 14, 2016 |
shadeyinka: They said they knew everything and don't need an economic team. Let them continue groping in the dark within their mediocre assembly. 4 Likes |
Re: Failed Naira: Your Advice For The Federal Government by obaaderemi: 9:28am On Aug 14, 2016 |
shadeyinka:what got us here is that for many years we relied on a single commodity,oil and used the profit to import foreign goods we could have produced here.we refused to invest in manufacturing,agric,electricity,transportation,water,develop rural areas to check urban drift and to provide the right education for the future generation.we wasted our chance.now tell me,if that commodity fails,what happens.its already happening!if buhari is serious one year was enough to have diagnose the problem and to get cracking.by now we should have stable power and started exporting agric produce.what he can do now as temporary measure is to take away the restriction on access to dollars and to invest seriously on agric and power.but its getting late as i type 1 Like |
Re: Failed Naira: Your Advice For The Federal Government by IllegalMoney: 9:29am On Aug 14, 2016 |
![]() ![]() ![]() Buhari the dullard should resign 2 Likes |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 9:30am On Aug 14, 2016 |
MadamExcellency: You have reduced the problems to: 1. The practice of Socialist type of Governance 2. Paucity of Foreign Investors. Forgive me for being naive. What specifically will Foreign Investors do in Nigeria? Is infrastructure our major problem or fundermental manufacturing structures? |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 9:36am On Aug 14, 2016 |
SUPERPACK: Just as you said, corruption is our major problem. If we don't solve the problem, diversification of our economy will not work. Once we start making money as a country the same billionaire Vultures will descend and squander the money. We need help! |
Re: Failed Naira: Your Advice For The Federal Government by shadeyinka(m): 9:42am On Aug 14, 2016 |
obaaderemi: Our political elites don't care one bit about us. Once they can buy their Hummer Jeeps why should they tar your roads. Once they can buy their 100kW Lister Generators and fuel it, why should NEPA or PHCN or what is their new name work! Pathetic! |
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