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Nairaland Forum / Nairaland / General / Politics / 2019: How Atiku Plans To Beat Buhari In Southwest (28503 Views)
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Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Alexis11: 9:14pm On Nov 25, 2018 |
deomelo: I'm deeply worried at the way they are celebrating that horrible video by Boko Haram. Politics has made them inhuman. |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by MarianaTrench: 9:21pm On Nov 25, 2018 |
HAH: Please count Anambra state out of your rubbish list! 1 Like 1 Share |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Alexis11: 9:23pm On Nov 25, 2018 |
fokye: Yeah. You are right. On social media. 2 Likes |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Nobody: 9:53pm On Nov 25, 2018 |
HAH: He will win ogun state. Gbenga daniel n obj factors |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Babs91: 9:54pm On Nov 25, 2018 |
Am not sure if Atiku can win any of the s/w state. Chaii ko rorun rara dre11: |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Nobody: 9:56pm On Nov 25, 2018 |
Babs91: How old r u? Am sure u r under 26. So u know absolutely nothing. |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by mrajims(m): 10:33pm On Nov 25, 2018 |
midolian:my guy you get bad mouth o, i gbadun your analysis 1 Like |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by grandstar(m): 12:25am On Nov 26, 2018 |
Felixv: Read the report again The 2nd to the last paragraph is exactly what I spoke about. Buhari changed the floating exchange rate policy he inherited and used a pegged exchange rate system instead. It was a recipe for disaster. The article called it a CBN policy but rather a Buhari policy as it coincided with his assumption of office. It is reminiscent of his lamentable economic policies of his first stint in power in 1983-1985. Countries have fled pegged exchange rates or tight bands to the dollar or other currencies starting with crisis in the Mexico in 1994, Thailand, Malaysia and Indonesia in 1997, Russia in 1998, Brazil in 1999 and Argentina in 2001. Why the average Joe does not like a floating exchange rate is because if there’s an influx of forex, the currency firms up but if there is an outflow, they don’t want to accept reality that the currency will depreciate. The sooner you accept market reality, the better You worsen matters when you now start using amateurish means such as import bans and forex rationing, the sort of methods Statist like Buhari prefer. A floating exchange rate helps create an equilibrium As your currency depreciates, due to declining influx of dollars, this makes imports more expensive and makes exports more competitive and more attractive to businessmen Of course, it can be frightening when forex declines happens rapidly like it did from 2014-2015 but it is futile fighting the market and thinking you’ll win. The Swiss central bank spent $30b in a futile attempt to prevent the Swiss Franc from revaluing but eventually threw in the towel From mid 2014, the Naira starting falling from 150 to 200 to $1 by May 2015 when Jonathan left office due to fast decline in crude oil price. Emefiele allowed market realities to take place Despite the decline in forex inflows, there was no report of forex shortages. Buhari thought exchange rate was fixed by the air and you can just give it any rate and it will stick! That’s why people doubt he has a certificate! I can’t blame them. Worse, he won’t take correction Despite fixing the rate at 197 because the CBN, could not defend the rate which is a pre-requisite of any exchange rate you choose to have (what does Buhari know), buyers started to switch to the black market when government supply was not enough. This quickly led to a fast widening spread between the official rate and parallel rate During Soludo and Sanusi’s tenures at the CBN, they did their best to keep the difference between the official rate and parallel rate at no more than 3%. At times it was probably less than 2%. As the CBN couldn’t meet demand, the spread started getting out of hand. First, for the first time in decades, Letters of Credit issued here were not backed with enough forex and local banks could not meet the foreign exchange obligations with their partner overseas banks. This was scandalous. The spread at one time hit 360 while the official rate while the official rate stayed at 197 creating a round-trippers heaven. |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Dollabiz: 1:03am On Nov 26, 2018 |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Christistruth00: 3:31am On Nov 26, 2018 |
dre11: After they finished Swindling SW out of the PDP Chairmanship. |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Felixv: 4:08am On Nov 26, 2018 |
grandstar: I am not an expert at monetary policies but one point that was glaringly obvious was the fact that we didnt have enough money to defend the naira. So the question is , why were we defending a currency that should have been allowed to be controlled by market forces - why were we creating an articificial exchange rate. I believe the main issue - as highlighted in the report was the reckless way we spent our money - in the time of boom we didn’t save enough.so when a crisis happened we were left exposed. We produce only one product and that is oil - our economy needs to be diversified so we would not be vuberable again |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by somehow: 4:35am On Nov 26, 2018 |
Can you stake your life on this? Skirmishes: |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by somehow: 4:37am On Nov 26, 2018 |
Splitting ofvotes in the SE is not new! otuekong1: |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by AlhajaChinyere: 4:50am On Nov 26, 2018 |
fokye: Why are they not paying my rent? |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by thegoodone1234(m): 6:34am On Nov 26, 2018 |
Skirmishes:He can but he may still loss. it depends on the state that win in south West and north West. Lagos, Ogun and Oyo have highest population in south west and Kano, kastina, Kaduna and sokoto have the highest in north West. all south south without River state is not up to Kano state alone. And all south East its not up to Lagos, Ogun and Oyo state population. He need to work harder. |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by marvinsync(m): 8:14pm On Nov 26, 2018 |
Oshigun: ur right they gave us quit notice , that's why there are 11 million of us over there
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Re: 2019: How Atiku Plans To Beat Buhari In Southwest by seunmsg(m): 8:26pm On Nov 26, 2018 |
Skirmishes: Atiku cannot win any state in south west and north west, he's also going to win only Benue and Plateau marginally in north central. He's going to lose big and you will be very disappointed. |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by Alexis11: 8:35pm On Nov 26, 2018 |
DrDauda: A 26 years old knows nothing?? From his analysis, he's even smarter than you that call yourself ancestor. |
Re: 2019: How Atiku Plans To Beat Buhari In Southwest by GMbuharii: 11:42pm On Nov 26, 2018 |
Okoyeebo: Chai,see how you vividly described your family sha |
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