Theconglomerate:
https://nairametrics.com/2020/02/18/cbns-forex-intervention-is-counter-productive-manufacturers/


If a whole MAN who has cheap dollars to their advantage is complaining,I wonder why some argue this glaring fact.
CBN commot hand for naira,if una like make una no listen.Keep pleasing the fùcking masses at the expense of the nation's industrialisation.
If you want buy import,please pay the real price for it and stop enjoying free subsidy because of Nigeria leaders quest for re-election.
Bankruptcy awaits una las las...

Nwokeomajayb:
Naira is overvalued I accept that. Even at $1 to #500 won’t resolve these problems. We need policy to protect our local raw materials against imported materials. Very aggressive policy but that’ll affect my Igbo brothers deeply .

AdaoraNK:


How can you ban what you don't produce?
Secondly the market have to be competitive. Leaving Nigerians at the mercy of local pruducers will be hell on our economy as the government have no insight/program to regulate prices which will lead to hyper inflation e.g local rice was very cheap like 6 - 8 thousand Naira per bag when imported rice was not restricted. But when there was restriction to import rice, the local rice rose to 15k in less than 1 year. I think the law of demand and supply caused it. Meaning if we can not produce enough, we shouldn't ban importation of such commodities.

This is where government should come in, fix infrastructure, remove taxes and levies, empower people irrespective of your class or education and make access to loans stress free. (the China way).

There will be excess production and more to export and compete internationally with pricing and quality.

We can not depend only on fx from Dangote Refinery because demand for fx will still rise 300% soon in 2 - 3 years, we have a big market.

If you ban without encouraging local production, the policy will hurt back and never work.. Its like enforcing lock-down without providing palliatives.

Nwokeomajayb:
I said legitimate aggressive policy not ban. They’re quite different.

SOFTDRINK:
You mind highlighting some of these aggressive policies?

emmanuelewumi:



If Soludo had redenominated Naira.

Old N100 will be N1 when redenominated

So the current conversation rate of Naira to dollar will be N4 to $1.

Houses of N100 million will be redenominated to N1 million

Your account balance of N100,000 will become N1000 the next day after the redenominaion.

michealekene:


Based on this, what about the cash at hand. Let's say I have couple of 1000 naira notes denominations stashed somewhere, how will the devaluation or redenomination affect it?

abimbola01:
June 28th

lawlarDee:
Is it just for salary earners..

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Donbrig:
Nigeria is still the giant of Africa, but a giant still unwilling to harnessed her true greatness. It is sad that some of us now compare Nigeria with Ghana, lets leave that arguments for now. It is going to be great and better for us all if we have a single exchange rate for naira, multiple exchange rate for naira has always been so embarrassing and creates lots of rooms for frauds. A single exchange rate is expected to be pegged btw 380/400 naira, which I believe is a very good start. With the present ongoing policies in Nigeria, I am very optimistic things will change for good in the next 4 to 5yrs. Our govt must also ensure that we have more electrical power supply, to boost small businesses across the country, Nigerians are spending lots of their profits to generate electrical power for their businesses, profits that are supposed to be reinvested in business.

It is impractical for those of us who are not into import or export business or pay school fees for kids abroad to be so worried about naira devaluation, we hope inflation rate goes down as we invest more in agriculture and consume and patronise more made in Nigeria products.

Nigeria will definitely get there in due time, though our rapidly increasing population and the lack of political will from our leaders to get things done had been a big obstacle to our national growth.

ahiboilandgas:
Apapa Gra 2 weeks no lights from nepa ....spent 25k on on gas to get power...spent 10k fixting the gen......i have solar /invter not very reliable

seankafor:
Siemens I'll come to the rescue soon bro... Just chill

ahiboilandgas:
how soon ...life expectancy in Nigeria is 53 years .....i been waiting since 1990....

NL1960:


If they follow through the strategy outlined in a video i saw by the President's SA, it will be by December 2021 for the phase 1 and 2023 for the Phase 2.

Btw, Apapa has never had light. Too many big men there who do not bother about PHCN as they all have independent power as in several noiseless generators and plants.

NL1960:


If they follow through the strategy outlined in a video i saw by the President's SA, it will be by December 2021 for the phase 1 and 2023 for the Phase 2.

Btw, Apapa has never had light. Too many big men there who do not bother about PHCN as they all have independent power as in several noiseless generators and plants.

ahiboilandgas:
big man no be human being....we use to have 20 hr steady...

NL1960:


Wa o. That means it has changed. The company where i work had to run away from Apapa in October 2018 when the traffic caused by trailers became unbearable. This is a company that has been in Apapa since 1985.

ahiboilandgas:
Apapa Gra 2 weeks no lights from nepa ....spent 25k on on gas to get power...spent 10k fixting the gen......i have solar /invter not very reliable

Barrytone:


Don't understand why solar wouldn't be reliable. That's all I use, I rarely know when they bring light which they rarely do. Highest I have recharge was 5k and it lasted 8months. Solar is too reliable. Only use gen for few hours on a rainy day to boost the battery.

DaBogu:
Sir, please can you recommend the person that you bought the solar inverter you using to me. Thanks in advance.

DexterousOne:


What did you study in school?

emmanuelewumi:



Please send a private message to him, he will get across to you if need be.

We don't encourage begging on this thread.