Every day I'm baffled by the method of the of our so called "PhD having" eites in this country.
I wish there was a way I could help this country and stir it to the right path and ensure prosperity for all.
Its really very simple albeit a bit complicated.

In every event, there must be winners and losers, Tinubu should leave currency speculators alone they were wise enough to buy USD at the right time due to their foresight ability so it is only right to let them reap the benefit of their labour.

South Korea is the 4th largest economy in Asia but its exchange rate is worse than Nigeria's as long as you maintain the value of your currency in your country, ensure open, fair and transparent monetary policies then you will gain currency stability.

But it seems our country is under the control of some foreign powers that is incharge of piloting the economy and currency affairs.

The difference is that they have a good economy that does not import rather they export, so Thier currency with USD wouldn't matter.

However here u depend on import for everything. Know this and know we are in deep sh.t.

ephraimlongkat:
The difference is that they have a good economy that does not import rather they export, so Thier currency with USD wouldn't matter.

However here u depend on import for everything. Know this and know we are in deep sh.t.

Its time to change that. Me must consume locally made goods.

What's this one saying?

South Korea devalue their currency deliberately. Because they have a producing and exporting economies so its good for them but its suicidal for a nation like Nigeria that produces nothing apart from oil.

saintopus:
What's this one saying?

South Korea devalue their currency deliberately. Because they have a producing and exporting economies so its good for them but its suicidal for a nation like Nigeria that produces nothing apart from oil.

Arabs too depend on oil. The difference is corruption level.

ephraimlongkat:
The difference is that they have a good economy that does not import rather they export, so Thier currency with USD wouldn't matter.

However here u depend on import for everything. Know this and know we are in deep sh.t.

Ofcoz it does matter....


The high exchange rate gives value to the Korean products overseas.

We have locally produced wines and we don't just have promotional methods to sell it out.

I was thinking, Odogwu bitters will make way for that.


If only Nigeria would export more products aside crude.... We will have more value for our products.

JASONjnr:


Ofcoz it does matter....


The high exchange rate gives value to the Korean products overseas.

We have locally produced wines and we don't just have promotional methods to sell it out.

I was thinking, Odogwu bitters will make way for that.


If only Nigeria would export more products aside crude.... We will have more value for our products.

Then let's start immediately. Tinubu should put effort into manufacturing for exports.

Birdbyrde440:
Every day I'm baffled by the method of the of our so called "PhD having" eites in this country.
I wish there was a way I could help this country and stir it to the right path and ensure prosperity for all.
Its really very simple albeit a bit complicated.

In every event, there must be winners and losers, Tinubu should leave currency speculators alone they were wise enough to buy USD at the right time due to their foresight ability so it is only right to let them reap the benefit of their labour.

South Korea is the 4th largest economy in Asia but its exchange rate is worse than Nigeria's as long as you maintain the value of your currency in your country, ensure open, fair and transparent monetary policies then you will gain currency stability.

But it seems our country is under the control of some foreign powers that is incharge of piloting the economy and currency affairs.

In your drive to be make it political, you contradict yourself.

The actual rate doesn't matter much but stability does.

Attached is the exchange rate of the WON to USD for over 20yrs. As you can see
1. It's averaged between 1000 and 1500
2. It's in constant flux i.e not arbitrary fixed.

That's the stability and efficiency investors need

Within the last 4 weeks, the exchange rate has gone from 1k to 1.3k down to 1k and now 1.1k. That's movement of over 10% in a few days. Foreign investors don't want that uncertainty.

saintopus:
What's this one saying?

South Korea devalue their currency deliberately. Because they have a producing and exporting economies so its good for them but its suicidal for a nation like Nigeria that produces nothing apart from oil.

Isn't it time to start consuming locally made goods?
Because soon the imported ones will become so expensive and unaffordable.

Most nigerians don't patronize locally made goods


If they do, they'll want to identify with their tribe men not others



That's why a lot of manufacturers add made in China logo to their products in nigeria before they sell it to retailers



Patronize locally made goods


Buy IVM or Nordstrom instead of Toyota , I'm hoping for these guys to push for easier alternatives like bike or manual


Buy CTL or Metro instead of DSTV and Gotv


Buy local rice instead of foreign rice


Buy local made clothes instead of foreign clothes from boutiques , better still buy okirika


Buy Chinese brands instead of western brands

Huawei instead of Apple

Even the so called local brands depends on imported raw materials to produce, which they still have to pay hard currencies for. Our saviour is in backward integration. which is to go back into farming, farming and farming.

danzaki63:
Even the so called local brands depends on imported raw materials to produce, which they still have to pay hard currencies for. Our saviour is in backward integration. which is to go back into farming, farming and farming.

Exactly. Buhari was repeatedly hammering on this.

Birdbyrde440:
Every day I'm baffled by the method of the of our so called "PhD having" eites in this country.

We need a Bbnaija kinda house style where PhD holders in Economics, Finance related courses are gathered for 6 months.. Let them create economic policies for this country to move it forward. Without Distractions too.

Let them argue n agree on something meaningful.

With same amount paid to them after the policy shows positive signs..

Let them test their PhD's for real. No b only English n giving assignments.

😂

Purvan:
Most nigerians don't patronize locally made goods


If they do, they'll want to identify with their tribe men not others



That's why a lot of manufacturers add made in China logo to their products in nigeria before they sell it to retailers



Patronize locally made goods


Buy IVM or Nordstrom instead of Toyota , I'm hoping for these guys to push for easier alternatives like bike or manual


Buy CTL or Metro instead of DSTV and Gotv


Buy local rice instead of foreign rice


Buy local made clothes instead of foreign clothes from boutiques , better still buy okirika


Buy Chinese brands instead of western brands

Huawei instead of Apple

Toyota 2006 model now is N5m.
IVM and Nordstrom should find a way through mortgage or car loans to make their cars affordable to civil servants and traders.

Offices should mandate certain Nigerian clothing brands as official wears or Friday wears.

Technology is a different thing, we are heading to a future of interoperability among tech companies. Its either apple or Huawei

ephraimlongkat:
The difference is that they have a good economy that does not import rather they export, so Thier currency with USD wouldn't matter.

However here u depend on import for everything. Know this and know we are in deep sh.t.

Not really

JASONjnr:


Ofcoz it does matter....


The high exchange rate gives value to the Korean products overseas.

We have locally produced wines and we don't just have promotional methods to sell it out.

I was thinking, Odogwu bitters will make way for that.


If only Nigeria would export more products aside crude.... We will have more value for our products.

Charity begins at home. I think drastic albeit subtle measures must be taken.

jedisco:


In your drive to be make it political, you contradict yourself.

The actual rate doesn't matter much but stability does.

Attached is the exchange rate of the WON to USD for over 20yrs. As you can see
1. It's averaged between 1000 and 1500
2. It's in constant flux i.e not arbitrary fixed.

That's the stability and efficiency investors need

Within the last 4 weeks, the exchange rate has gone from 1k to 1.3k down to 1k and now 1.1k. That's movement of over 10% in a few days. Foreign investors don't want that uncertainty.

In your bid to claim superiority you fumbled greatly.

The natural price of usd/naira at this very moment is $1/N5000.
If we have cleansed ourselves of external orientation, the price of a tuber of yam ceteris paribus will be N100. 10tubers of yam N1000.

I know it will go over your head, no?