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SAI BABA, YES OOO, REMAINING 500 2 REACH 1000.

Smh.

9jakohai:


The problem we have is simple. We are not earning enough dollars to buffer the naira.

The gej that you call God's elect .....oil prices were as high as 100 dollars per barrel. That is why naira was supposedly doing fine.

If oil goes up again, naira will get up again, and you will be praising PMB.

Look.... gej used high dollar inflows to keep the naira high. Buhari is just waiting for oil to rise again, while looking for new sources of dollar. Neither of both methods make a good economy.

Their IPOB brain is slow and myopic to understand your correct explanation. Just let them wail on.

Brunel:
Can someone please tell me one campaign promise that has been fulfilled? One.

For where, not even half.

EmilyShoton:


Pls how can I purchase it asap. will give you $90. plssssss

Just forward the money to my account, then I will beg seun to reissue my FTC return certificate to you

He might refuse o... But still send the money sha

Reference:


You are either dishonest or ignorant.
What kept the naira stable during those times was FDI. What distablilizes the currency now is the opposite. Lack of FDI and reverse investment.... disinvestment..... people converting their naira to dollars and leaving the country due to lack of confidence in the government's direction and ability to reverse the trend. Brother, even Nigerian salary earners and businessmen are converting their earnings to dollars to hedge against inflation/devaluation. The naira component of my earnings is down to 48%, just for operational expenses and if this trend of misgovernance continues I cannot see myself holding more than 15% in naira in my wallet by year's end.

Oil prices were lower than this for most of OBJ's tenure and even lower during the Abdulsalami time when even our external reserves went down to 9 billion dollars I think. So it has little to do with oil comparatively. Any way how do you explain the marginal increase in our foreign reserves since late last hear with the declining dollar. Normally when your reserves increase your currency should stabilise but the naira is not because there is more cash outside CBN control than within its control and this cash reacts to the wider economy. OBJ and later Yaradua then Jonathan were able to raise additional dollars through FDI which peaked in 2014/15. All that is gone.

In a nutshell, the government is talking but the people who matter (both foreigners and Nigerians) are not buying their policies and are voting with their wallets. The people are the reality of any country, just like the stock market or any market is the reality of any economy and they are saying loud and clear, 'we have no confidence in the ability of government to repair the economy'.

I could remember a year and a half ago when International Financial institutions warned about the impending calamity and they were rudely rebuffed by hallucinating fans of 'change'. These are the peoples with the monies that kept us stable in unstable oil price regime but we abused them. Funny enough when we talk about diversifying the economy FDI is one area. Diversification does not absolutely mean manufacture this or that. It also means having a second stream of income just like doing a second job to make ends meet when your first job is unstable. You may be a doctor driving a cab or a lawyer running a supermarket. How you earn the income does not matter but earn it. What we were doing was abusing our foreign customers and we have lost out.

The reason why we had high Fdi in the past is simple..... we had enough dollars, especially during the last admin.... so we did not need to restrict dollars.

Now we do, and we do not have the dollars to spend.... so fdi runs out.

And Fdi does not run away because of dollars.... No light, no water too.

If you want the naira low... ie 1 to 1....we need a sustainable source of dollars. And the road there is hard..... PMB needs to take loans for rail, power etc... to improve them and attract fdi.

When oil prices go up.... we do same with some of the surplus.

chibuzorAbia:


Their IPOB brain is slow and myopic to understand your correct explanation. Just let them wail on.

Fact is, though, if we want a strong currency, we have to have enough forex. And the road there is not easy, and govt is not taking that road. They ought to.

Little wonder the shop seller was selling a can of peak milk for 200 naira(Nigerian type) and 250 for Holland type...things are really getting tougher by the day....Now people are speculating fuel scarcity because marketers can't break even. God help us.

9jakohai:


The reason why we had high Fdi in the past is simple..... we had enough dollars, especially during the last admin.... so we did not need to restrict dollars.

Now we do, and we do not have the dollars to spend.... so fdi runs out.

And Fdi does not run away because of dollars.... No light, no water too.

If you want the naira low... ie 1 to 1....we need a sustainable source of dollars. And the road there is hard..... PMB needs to take loans for rail, power etc... to improve them and attract fdi.

When oil prices go up.... we do same with some of the surplus.

Oga. What is FDI. Because it appears you fail to understand what is happening. FDI ars funds brought into a country by individuals, companies, but mainly financial institutions such as fund managers who invest on behalf of their clients who inturn could be government's, companies, high networth individuals, shareholders, pensioners, etc. They look out for green pastures to put their monies in. Their Bibles are sound financial reports, projections, budgets, developmental plans and strategies. Their pastors are Fitch, Moody's and other rating agencies and they go like loyal flock where these lead.

It doesn't matter whether you produce oil, charcoal or soyabeans, if the facts and figures are right, if the plans and prospects are good, they will come in mass. We have had oil since independence but they only started coming in mass when we transited to democracy showing that it is not about oil but ABOUT GOVERNANCE. Quality of governance AFFECTS the prosperity of any country. Now let me share a secret with you.

Knowledgeable investors seek to invest at the bottom of financial cycles because it hold the potential for the maximum return..... IF THINGS ARE GOING TO WORK. So it is not a bad economy that scares people, but the lack of prospects that things will turn around. So I have never worried about devaluation or the naira rate at any point in time. Infact I am an apostle of devaluation when things are tough. I am an apostle of floating the naira to decouple government from business. Devaluation ordinarily should make our assets and our economy ATTRACTIVE to investment but every investment expects a return whether short, medium or long term and nobody will invest if he cannot see a profit ahead. So it is up to government to guarantee a profit ahead or else people will continue to flee with their money and the aira will continue to weaken. The naira is completely controlled and is the barometer of peoples confidence is the government of any country.

And its slide shows you they are losing confidence and patience day after day.

mmm IS PAYING GO AND pH AND gH. LIVE THIS HELL FUCKING COUNTRY TO THE FUCKING BASTARD CONFUSED POLITICIANS WHO DO NOT MEAN WELL FOR THE PEOPLE

snrman:
Is dollar your currency?

Illiterate like your president

ademoladeji:
Confam!!!

I was shown pepper yesterday @ oke koto area of Agege before I could get $100

500 - 530 per Dolapo

Do u reside around there?

9jakohai:


The reason why we had high Fdi in the past is simple..... we had enough dollars, especially during the last admin.... so we did not need to restrict dollars.

Now we do, and we do not have the dollars to spend.... so fdi runs out.

And Fdi does not run away because of dollars.... No light, no water too.

If you want the naira low... ie 1 to 1....we need a sustainable source of dollars. And the road there is hard..... PMB needs to take loans for rail, power etc... to improve them and attract fdi.

When oil prices go up.... we do same with some of the surplus.

seriously you are really confusing yourself


Get the meaning of FDI first then you ll find your write up a big comic relief

pocohantas:
Buhari is working

Somebody say BABA *silence*
Somebody say BABA *another silence*

Ahah

... ..no be small silence..Its a deafening silence!!....

...In 1970,it was $1 to #1...in 2015 it was $1 to #210..meaning the #209 difference happened in 45years inspite of the economic and political turmoil within those years.


...Now buhari and his cohorts came on board and whay did we have..2015 it was $1 to #210....January 2017 its $1 to #500!!!!!...just under two years..


...If that is not terrorism against Nigerians,then i dont know what is.


..Anyway before i forget..sai barber!!!!

ayoolanr:
My fellow Nigerians, it is time to take your country back by fire of by force!!! Burn down these politicians houses and don't let them know peace!!!

Gbam. Beginning of revolution in Nigeria. That's the only way out of the tragedy being forced on Nigeria.

yeyeboi:
Ok waiting for sarrki to come and defend his master on this one before I comment.

Dollar is 305 in licensed BDCs across the country

Lucasbalo:
Gbam. Beginning of revolution in Nigeria. That's the only way out of the tragedy being forced on Nigeria.

lies if you need dollars and you are travelling CBN licensed BDCs sell dollar at about 305

flyca:
Na lie! Na only ipods and Nnamdi Kanu's sympathizers will buy it for that amount.

Here in Daura, its sold for 170. I bought it this morning

what's your problem?

I won't feel the impact that much cos MMM is now paying, though in installment. But small time everything go normalize. We gatz help ourselves cos this government no send us, never did!. (in drakes voice) remember, mo'fuxckers never loved us!

Abeg make una clap for Buhari !

E nor easy to rule the country scatter!

See this cause of Naira fall as revealed by Leadership, but Seun and Lalasticlala are hiding it
https://www.nairaland.com/3594609/exclusive-whistleblower-gives-leadersng-damning

me69:
lies if you need dollars and you are travelling CBN licensed BDCs sell dollar at about 305

If you like the way things are in a Titanic called Nigeria , good luck to you.

What a good news for yahoo boys... make N1 reach $1000 sef. Anyone wey hammer $2000 and above na millionaire already.

[quote author=IVORY2009 post=53260170]


ur mumu don do:... [/quote]

pocohantas:
Buhari is working

Somebody say BABA *silence*
Somebody say BABA *another silence*

Ahah

U could hear a pin drop when u said that.

Just the beginning.

Lucasbalo:
If you like the way things are in a Titanic called Nigeria , good luck to you.

Bring the rate down na

U guys should invest in EXPORTATION BUSINESS and stop complaining.......

Get my Cocoa Powder, Bitter Kola OR Cashew Nut Export Material for 9,500 and start earning dollar straight away....

We have genuine contacts of foreign buyers in the material..... Call/whatsapp 0-8-0-3-6-9-3-2-1-7-4

Dont contact me if you are not serious please.

Brunel:
Can someone please tell me one campaign promise that has been fulfilled? One.

he fulfilled his promises na...he promised change...shey everything never change ni....lol

For the first time in history. Something needs to be done, what will happen to those who wants to travel considering this new forex exchange

NAIRA DON LOST VALUE LIKE T-PAPER