Economists in the building,any suggestions?

Nothing is impossible.

yes from may29

Provide the video or audio.

In response to your question, why not?

Yes, but it will take another 50years.

Op u r a student, u should kw the implications of 1naira 1dollar

One naira was equal to two dollars fifty cents around 1980 and I used to order my comics and novels from abroad at that rate. The Shagari regime messed the naira up land Buhari tried to arrest the decline but was not allowed

Value of money is not our problem. Our problem is lack of exportable commodities.. The value of Cyprus pounds is far greater than dollar but what does that add to their country. The government can equal the value of naira to dollar but i tell you that is a calamity is waiting. Ghana is a perfect example. Higher naira value discourage export and encourage import and that brings about deficit balance of payment which is the recipe of economic meltdowns
Buhari should diversified our exportable commodities and let the value of niara appreciate to the forces of demand and supply. Any attemt to use central bank to force the value of dollar down is to drag the economy of the country to the mud.

Buhari said he wl do it. We re waiting

Why not? remove 2 zeros from the naira and voila 1 dollar would be equal to 2.2 naira. ( at least it is close to 1 naira)

Norada:
Buhari said he wl do it. We re waiting

Why do Nigerians like lying so much. In Nigeria perfidy is glorified and truth scorned which has made me concluded that Nigerians are enemies of God. Where exactly did Buhari promise to do that. Naira had more value than dollar before but the perfidious way of Nigerians cheapened their currency

If buhari can become a president of nigeria among the likes of, ffk, fayose, ait, nta, Tan, adamu muazu, doyin, omokiri, gumi, orisajafor, gani, opc, dokunbo, bode, nig service chiefs, and lots.....


WHAT IS 1$?

Yes! It is possible!! If Gej can win USA's election to be president after Obama and thereafter appoints okonjo iweala as coordinating minister of the US economy!!! Surely within 4years 1$ =1N

https://www.youtube.com/watch?v=-nhQjWpeqOY

[size=15pt]Nigerian Central Bank Governor On Naira Devaluation[/size]

Babalegba:
One naira was equal to two dollars fifty cents around 1980 and I used to order my comics and novels from abroad at that rate. The Shagari regime messed the naira up land Buhari tried to arrest the decline but was not allowed

It was a mere 60 Kobo even at black market rate in those days - Nigerians were at that time hailed abroad, because they never constituted themselves as nuisances or liabilities as they had purchasing power, almost paralleling Saudis; unlike these days.

Seun, this deserve a front page...

[b] If i get you right, your questin is if the Naira can be madr to be at Par with the Dollars ( i.e $1 = N1 ) and how?

Contrary to many believe that its impossible, it is actually possible. History has it that Way back in 1978, $1 = 65Kobo. Today, $1 = N198 at the Parralel Market ( black market as at yesterday ).

DECIMALIZATION
Many believe that by re-basing or predominating the naira, the naira can be at par with the dollars (e.g $1 = N1). This however possible, has disastrous effect that can lead the economy to a halt, the solution is by first doing things that will favour the economy growth and development. The things that can be done are as follows;

1. Re-Viewing the Trade Agreements
All trade agreement with external parties or countries should be reviewed in other to determine the level as to which they serve our purpose(s).

2. Home Grown Economics
People fail to understand that, at times even policies taken from Harvard cannot solve our problem, like a Nigerian saying goes " Na person wei ant bite know where e dei pain am ".

All am trying to say is that we must jettison the foreign solutions which are been given to us by international bodies like the IMF, World Bank etc. Solutions created by these bodies do not share sentimental attachments to our problems; they neither see it nor feel it; at best they can only scratch at the surface and that is what has been happening. It does not make any sense for us to strive to make surpluses in our foreign reserves and place same in the hands of foreigners to manage for us; their loyalty is first to their country that sponsored them to the positions at World Bank and IMF. This is why I have been against NGOZI OKONJO IWEALA or any WORLD BANK / IMF staff in handling sensitive positions such as CBN Gov or Min of Finance positions.

We must see reasons as to why we should be realistic with our situations, not over-rating our capabilities and been careless as to how we deal with our resources;
We must start by itemising things which are paramount to the survival of this nation and those which are not.

3.. Substitute Goods.
Too many fake and unwanted goods have flooded this country, let us put a halt to that. The cause of our naira decline is that, our naira cannot match the demand for foreign goods coming into this country. So, when these non-essential items are put on the prohibition list, the burden on the naira will start coming down. In essence I mean we should start producing many things we know we can produce ourselves and use them. I see no reason going to America to get an SUV when you can get one from INnoson, I see no reason going to China to get Plates and spoons, when we can produce them locally.

4). We must encourage local Manufacturing and exportation of this locally manufactured goods. In those days we exported Groundnut, Cocoa and Rubber, palm kernel. But today we import nearly all these stuffs. I for one just imported Groundnut Oil from China, its bad I am killing the naira. This should be stopped.

I am still angry today as to the death of Hitv, its high time we follow the China way, let's discourage foreigners as competitors, we should develop before they come in. We should go for DaarSat before Allowing MultiChoice.

We must encourage appropriate pricing for all of our local products, both raw materials or finished productions; in addition, the local content initiative must be intensified

5). Prevent throwing our currency at foreign Nations / Repatriation Of Funds

An epitome example of this is the educational sector, its saddening to see trillions of naira thrown out yearly in the name of education in countries like America, Ghana, South Africa etc. If our education standard is properly harness and standardise, there will be no need for all this wasteful spendings. Good health care system been out in place, if this is done the rush overseas for medical consultations will be brought to an end.

Repatriation of funds deposited abroad has to be carried out, no matter what it cost sacrifices has to be made. For every idle funds we place in foreign accounts both by government or individuals, we do harm to the value of our naira.



In conclusion,
The task of shoring up the naira is a collective one and begins with us abiding with the above laid rules. Note that the above laid guidelines are not exhaustive.[/b]

.

Yes GMB has the magic wand. Has and agreement with Obama to stop American economy for ours to catch up.

Buhari said so...
http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/#sthash.eALwzZ4V.dpuf

Let us sit and watch how Baba is going to do it. Time for action...

Prophet Buhari said if you vote him as president he will make 1 naira to be equal to 1 dollar. Many of you believed him and has voted him. Let's sit back from may 29 the magic will start hopefully.

Horus:

https://www.youtube.com/watch?v=-nhQjWpeqOY

[size=15pt]Nigerian Central Bank Governor On Naira Devaluation[/size]

This is the first time I'm hearing this man speak. He sounds dumb I must confess

And to answer your question @op

Yes. One naira can be equal to one dollar.

ROCKJ1:
Buhari said so...
http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/#sthash.eALwzZ4V.dpuf

that was mischievous primate journalism. Show us where Buhari said it not where some primate said he said it.

Unibenstudent:
Economists in the building,any suggestions?

Yes, it happened in ghana without so much drama.

The question is would it be beneficial on the longrun?

.

Wonderful elaboration


I have learned so much from you..
Thanks

Ymodulus:


[b] If i get you right, your questin is if the Naira can be madr to be at Par with the Dollars ( i.e $1 = N1 ) and how?

Contrary to many believe that its impossible, it is actually possible. History has it that Way back in 1978, $1 = 65Kobo. Today, $1 = N198 at the Parralel Market ( black market as at yesterday ).

DECIMALIZATION
Many believe that by re-basing or predominating the naira, the naira can be at par with the dollars (e.g $1 = N1). This however possible, has disastrous effect that can lead the economy to a halt, the solution is by first doing things that will favour the economy growth and development. The things that can be done are as follows;

1. Re-Viewing the Trade Agreements
All trade agreement with external parties or countries should be reviewed in other to determine the level as to which they serve our purpose(s).

2. Home Grown Economics
People fail to understand that, at times even policies taken from Harvard cannot solve our problem, like a Nigerian saying goes " Na person wei ant bite know where e dei pain am ".

All am trying to say is that we must jettison the foreign solutions which are been given to us by international bodies like the IMF, World Bank etc. Solutions created by these bodies do not share sentimental attachments to our problems; they neither see it nor feel it; at best they can only scratch at the surface and that is what has been happening. It does not make any sense for us to strive to make surpluses in our foreign reserves and place same in the hands of foreigners to manage for us; their loyalty is first to their country that sponsored them to the positions at World Bank and IMF. This is why I have been against NGOZI OKONJO IWEALA or any WORLD BANK / IMF staff in handling sensitive positions such as CBN Gov or Min of Finance positions.

We must see reasons as to why we should be realistic with our situations, not over-rating our capabilities and been careless as to how we deal with our resources;
We must start by itemising things which are paramount to the survival of this nation and those which are not.

3.. Substitute Goods.
Too many fake and unwanted goods have flooded this country, let us put a halt to that. The cause of our naira decline is that, our naira cannot match the demand for foreign goods coming into this country. So, when these non-essential items are put on the prohibition list, the burden on the naira will start coming down. In essence I mean we should start producing many things we know we can produce ourselves and use them. I see no reason going to America to get an SUV when you can get one from INnoson, I see no reason going to China to get Plates and spoons, when we can produce them locally.

4). We must encourage local Manufacturing and exportation of this locally manufactured goods. In those days we exported Groundnut, Cocoa and Rubber, palm kernel. But today we import nearly all these stuffs. I for one just imported Groundnut Oil from China, its bad I am killing the naira. This should be stopped.

I am still angry today as to the death of Hitv, its high time we follow the China way, let's discourage foreigners as competitors, we should develop before they come in. We should go for DaarSat before Allowing MultiChoice.

We must encourage appropriate pricing for all of our local products, both raw materials or finished productions; in addition, the local content initiative must be intensified

5). Prevent throwing our currency at foreign Nations / Repatriation Of Funds

An epitome example of this is the educational sector, its saddening to see trillions of naira thrown out yearly in the name of education in countries like America, Ghana, South Africa etc. If our education standard is properly harness and standardise, there will be no need for all this wasteful spendings. Good health care system been out in place, if this is done the rush overseas for medical consultations will be brought to an end.

Repatriation of funds deposited abroad has to be carried out, no matter what it cost sacrifices has to be made. For every idle funds we place in foreign accounts both by government or individuals, we do harm to the value of our naira.



In conclusion,
The task of shoring up the naira is a collective one and begins with us abiding with the above laid rules. Note that the above laid guidelines are not exhaustive.[/b]

Wonderful elaboration


I have learned so much from you..
Thanks

Please are you an Economist? @ Ymodulus

Ask APC & Buhari

1k Naia, yes