courage89:


They made similar arguments 3-4 years ago, Nigeria needs to devalue its currency to attract FDI. We need to devalue to make export cheaper. Loads of bull...What happened to the FDI after we devalue our currency? What kind of FDI did we attract, portfolio or brick and mortar investments? What happened to the FDI after these investors made their returns? Has our cheaper currency helped us to export more industrial goods?

Let's not kid ourselves, devaluation of naira at this point is not in the best interest of our economy. It will create high inflation, high-interest rate, loss of manufacturing abilities, loss of jobs and other problems.

To the proponents of currency devaluation, what's the objective this time? To attract short term portfolio, long term portfolio, brick & mortar investments? Devalued naira will only attract short term portfolio investment, which is detrimental to our economy. We're all living witness to the economic effect, cycle, and runaround based on what happened to our stock market in the past 4 years.

Our objective should be how to attract long term portfolio, brick and mortar investments. The best way to do this right now is to address factors that lower the cost of doing business in Nigeria. Power, transportation, ease of doing business policies, security, currency stability, and others. Our conversation should revolve around these subjects and not currency devaluation. By fixing these problems, we fix our economic problems and others at the same time.

Mcy56:
I saw it. Uba and Access are for the patient ones.

currentprice:
make u na day buy small small o. I don buy today o

jideflash:
Do you know that STI has released their 2018 fye result quietly. EPS is 4.13kobo

sold off 8million units of STI today 24kobo , entered at 21kobo.

swilo:
Who witnessed the transcorp crossings..? any large trade or what?? any idea how the vol came?? I missed that part, so one can know if it will retest that 1.12 again??

OBAGADAFFI:



Did STI declare any dividend?

jideflash:
no they didnt. they still have accummulated loss of about 1.3bn.

jamace:
How market, bnsitl?

BMZK:
Please has FCMB released result?

swilo:
I still don't know where those guys came from. If they can just apply 10percent of their analysis skill to NSE then we all are in to make millions this year. They all know how to write long messages... They all have points... And yet Bubu is still the president.

The advice from a poor man will ALWAYS be ignored even if it will save the city


Market don open

tritritri:


Our reserve at 43B will be able to help us through.

Mcy56:

I saw it. Uba and Access are for the patient ones.

Mcy56:

Better!

Mpeace:
Where all this pple follow come?

Mcy56:

I saw it. Uba and Access are for the patient ones.

GonFreecss1:



Hope is never a strategy my brother.

Nigeria spent 38 billion USD last year saving the naira. All it takes is a plunge in oil prices to allow the King Kong of recession and a great depression to f*uck Nigerians in the ass without lube.

tritritri:



wait...oil was at 50 last year ..now 70...even if at 50 we will scale through...Meanwhile what if after all d talk no recession dis year ?

https://nairametrics.com/2019/04/05/nigeria-set-to-become-exporter-of-refined-crude-products-imf/

GonFreecss1:


I get your point, but if you remember correctly when this happened Naira to usd inched up from 358 to a dollar to 370 to a dollar. That is cause for worry friend.

I get your stance though, but I have learnt when it comes to the financial market, you need to look at it like you are crossing the road, left, right then left again. I am simply saying study both sides and hedge accordingly. Both arguments have their pros and cons, both arguments could be wrong or right assuming one is right than the other is dangerous.

GonFreecss1:
My luff is back.

GonFreecss1:
Nigeria spent 38 billion USD last year saving the naira. All it takes is a plunge in oil prices to allow the King Kong of recession and a great depression to f*uck Nigerians in the ass without lube.