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Nairaland Forum / Nairaland / General / Business / Recession: EU Advises Nigeria To Devalue Naira. (25538 Views)
EXCLUSIVE: CBN Will NOT Devalue Naira, Mulls Proposal For New Forex Window / The Naira In 2016: To Devalue Or Not To Devalue? / Pls, What Does It Mean To Devalue Naira? (2) (3) (4)
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Recession: EU Advises Nigeria To Devalue Naira. by mumuto: 6:56pm On Oct 03, 2016 |
European Union (EU) official Fillippo Amato has advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession. http://www.vanguardngr.com/2016/10/recession-eu-advises-nigeria-devalue-naira/ 2 Likes
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Re: Recession: EU Advises Nigeria To Devalue Naira. by alegbeleye(m): 7:00pm On Oct 03, 2016 |
Thanks for the advise...... We have a minister for finance here. 26 Likes 2 Shares |
Re: Recession: EU Advises Nigeria To Devalue Naira. by divinehand2003(m): 7:02pm On Oct 03, 2016 |
The more the naira is devalued, the more expensive things will become in Nigeria, and the crazier our economic recession will become. Devaluation Of our naira favours the EU, but it's a curse to our country. 131 Likes 4 Shares
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Re: Recession: EU Advises Nigeria To Devalue Naira. by mumuto: 7:04pm On Oct 03, 2016 |
So it's not yet over ![]() 6 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by CandyDiamond(f): 7:06pm On Oct 03, 2016 |
Which devaluation again when 1 dollar don reach 500N 43 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by Nobody: 7:07pm On Oct 03, 2016 |
It must hit N1,000 /$ 5 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by fotadmowmend(m): 7:08pm On Oct 03, 2016 |
Sadly... we no go hear 2 Likes 1 Share |
Re: Recession: EU Advises Nigeria To Devalue Naira. by mrvitalis(m): 7:08pm On Oct 03, 2016 |
For me I feel the cbn should free the naira Control for now.. let the naira gets its true value. . No matter the price. ... The good thing is this the higher the exchange rate the costlier imported goods n raw materials and that means it becomes cheaper to buy and produce raw materials here... . That's just it Free the naira to fall 14 Likes 4 Shares |
Re: Recession: EU Advises Nigeria To Devalue Naira. by Bari22: 7:08pm On Oct 03, 2016 |
How many times they want us to devalue naira? May be some years to come five thousand will not buy a loaf of bread. 4 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by Chubhie: 7:10pm On Oct 03, 2016 |
CandyDiamond:1 dollar to 1,000 Naira is the estimated true value. 8 Likes 1 Share |
Re: Recession: EU Advises Nigeria To Devalue Naira. by mumuto: 7:15pm On Oct 03, 2016 |
CandyDiamond:. Is this not bad enough? 2 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by eph12(m): 7:18pm On Oct 03, 2016 |
mrvitalis:Things are already expensive so it's nothing new. What kind of alternatives do we have to foreign products? Can NTA and government controlled media help spread the news about most of these local products and where exactly we can find them? 4 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by mrvitalis(m): 7:20pm On Oct 03, 2016 |
eph12:Nigerian businesses need to be smart... And take this opportunity 2 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by sarrki(m): 7:24pm On Oct 03, 2016 |
We have a lot of economic analyst online Proffer a solution Not castigating and insulting I rest my case |
Re: Recession: EU Advises Nigeria To Devalue Naira. by eph12(m): 7:25pm On Oct 03, 2016 |
mrvitalis:I have ideas. I have friends that have ideas but it's easier for camel to pass through the hole of a needle than for people to get funds for their business and ideas. Marketing, creating awareness is very important for businesses but not cheap to do. This is where government can come in. If the business is doing fine won't we pay tax happily? 11 Likes 1 Share |
Re: Recession: EU Advises Nigeria To Devalue Naira. by eph12(m): 7:27pm On Oct 03, 2016 |
sarrki:I don't think I have seen you proffering solutions before 26 Likes 2 Shares |
Re: Recession: EU Advises Nigeria To Devalue Naira. by Sibrah: 7:28pm On Oct 03, 2016 |
Chubhie:People hardly understand this fact. The true value of the Naira to Dollar is around N1,000/$. Someone reading might be wondering why haven't we be paying N1,000.00/$ then? The answer lies in our subtle subsidy of Dollar. The govt simple takes excess dollar earned via crude oil and sell it cheap in FX market through BDCs and commercial banks. This hides the true value of the dollar from the populace. If we should devalue completely today, then the worse is over as regard entry of investors. 12 Likes 1 Share |
Re: Recession: EU Advises Nigeria To Devalue Naira. by Raphael81(m): 7:31pm On Oct 03, 2016 |
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Re: Recession: EU Advises Nigeria To Devalue Naira. by mumuto: 7:31pm On Oct 03, 2016 |
Chubhie:Be like Na the target. They are devaluating gradually so we won't feel it. 3 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by sanandreas(m): 7:33pm On Oct 03, 2016 |
No to devaluation 3 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by Abeymills(m): 7:36pm On Oct 03, 2016 |
Unfortunately d dullard will never listen even after they service d infected ear wit over 25million naira...useles very clueles 4 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by onatisi(m): 8:29pm On Oct 03, 2016 |
CandyDiamond:Is it 500N now? God bless buhari 3 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by ProfessorPeter(m): 8:34pm On Oct 03, 2016 |
Thank God i didn't vote for Buhari. The rate wey naira dey fall under this government, e go worst pass Zimbabwe's dollars 10 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by olumidazz: 8:36pm On Oct 03, 2016 |
Which value naira get again. This is a case of dead body get accident confusion break bone, na double wahala for deadi body and the owner id deadi body 4 Likes 2 Shares |
Re: Recession: EU Advises Nigeria To Devalue Naira. by mrvitalis(m): 8:47pm On Oct 03, 2016 |
eph12:No that's were the banks.. churches and the rest should come in not government... This is a capitalist country remember Mind u I face similar problem |
Re: Recession: EU Advises Nigeria To Devalue Naira. by eph12(m): 8:54pm On Oct 03, 2016 |
mrvitalis:Banks? No let me laugh abeg. Every policy concerning the banks is made to favor banks. Government can't step in to say the interest rate is too damn high? If they can't do these little things for us wth do we have to use our energy campaigning and voting for them? What exactly should we expect from the government since banks and churches are responsible for assisting ordinary citizens. 6 Likes 1 Share |
Re: Recession: EU Advises Nigeria To Devalue Naira. by mrvitalis(m): 8:59pm On Oct 03, 2016 |
eph12:Nigerians are socialist in nature but want to practice capitalism.. . The banks when the going get tougher will stop giving money to friends and look for people with real idea. .. It might take time.. But we will get there |
Re: Recession: EU Advises Nigeria To Devalue Naira. by oduastates: 11:35pm On Oct 03, 2016 |
The people and the government are still behaving as if they can continue living the $120 a barrel Lifestyle. 3 Likes 1 Share |
Re: Recession: EU Advises Nigeria To Devalue Naira. by omohayek: 11:52pm On Oct 03, 2016 |
Bari22: If anyone is to blame for the continued fall of the Naira over the years, blame the successive governments which have insisted on printing more and more Naira without any corresponding increase in forex to back up the printing presses. Nigeria's inflation problem has nothing to do with whether or not the Naira is allowed to float, but with a lack of government budgetary discipline, and CBN governors who are too timid to counteract runaway government spending by sufficiently hiking interest rates. Get the Nigerian government to stop printing money and you'll soon see the Naira's value stabilize indefinitely, even under a fully floating regime. The converse to this is that no government policy to "fix" the Naira's Dollar value will ever work without greater restraint in government spending: the only thing a fixed exchange rate will cause is forex shortages and riskless "round tripping" profits for a few highly-connected individuals. 4 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by PaulIdu: 11:56pm On Oct 03, 2016 |
Devalue it to where again? 1 Like 1 Share |
Re: Recession: EU Advises Nigeria To Devalue Naira. by mumuto: 6:30am On Oct 04, 2016 |
PaulIdu: Ask the government without focus. 2 Likes |
Re: Recession: EU Advises Nigeria To Devalue Naira. by Adesiji77: 10:41am On Oct 04, 2016 |
Speechless... @Truth34: What's your take? cc: lalasticlala, dominique 3 Likes |
41 Exempted Items: FG Dumps CBN’s Forex Policy / Few Nigerian Banks May Collapse In 2016 – Report / World Bank Blacklists 58 Nigerian Companies, Individuals Over Corruption
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