CareersNG

Bang! Bang!! Bang!!! come august 2008 two zeroes will be removed from the country's currency for example =n=1,000 now, will be =n=10 in august 2008. A lot as been said; is it revaluation or re-demonination. Well one thing is certain that in the short run the value of =n=aira will be strong and appreciate against other countrry curriencies.

If the policy stay, the big challenge will be how to maintain the value at the long run. This challenge was also recognised by the c.b.n govenor when he said that atleast in the next 20 - 25mths the economy can still accomodate the side effect of the redemonination exercise.

Way Forward:

* Measures should be put in place to discourage unnecessary importation

* Export base should be broaden, however, this might look intimidating becuase our export will be expensive and we have to compete with other developed countries to sell in the international market.

*All enabling infrastructures should be put in place to encourage exports i.e more epz

* Expand Government revenue base, emphasis should be place on generating naira demoninated revenue i.e internally generated revenue.
e.g taxation

* Inflationary control measures, well, the c.b.n governor has promised to put in place a framework to monitor and control the inflationary trend.

* Continuos public and private sector job creations

more coming... watch out!

This is great news....
I need top financial analystss to come an interpret this oooo

News URL:

http://allafrica.com/stories/200708160011.html
http://allafrica.com/stories/200708160657.html

I dey come with my questionss

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Fowe.
Choices make or mar Chances ... add extra care to your choices today.

Hmm.

I am not a "top financial Analyst" so let me leave that for people like ajileye femi, who by the way has been missing from this forum for quite some time.

My own question is what does the brilliant Soludo hope to achieve with his latest proposal? I am at a loss oh cos from the little I heard, it doesnt make sense, at least not yet, but I am hoping the professor is not going to goof on this one.

1. Why did we have to spend so much introducing =N= 1000 notes, initiating a costly project to move from paper to polymer notes for =N= 500 et al, only to within months declare total eradication of those same notes? "Policy Somersault" abi?

2. What would be the real positives, and would it overwhelm all negatives this could/would instigate?

Changing 1 USD for 1.25 naira, so what?

Methinks it would . . . .
discourage exports; we hardly had any before.

Coins staging a full comeback will be very good. Many items/services are easily "self dispensed" using coin operated machines.

Maybe increase foreign confidence in our economy too.

But I wonder if the cost is justified. Wonder if it is not just diversionary tactics (SPIN, as one of my friends in this forum would say) . Dont we have more pressing issues? Our refineries, Unemployment, PHCN et al.

I however admire Soludo's courage, maybe he realized he was making a mistake by issuing =N=1000, etc and did a detour. A good leader always acknowledges mistakes rather than stubbornly proclaiming "do or die".

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More twisted than dreadlocks

One thing is sure about the policy, it will discourage pple from running abroad, After all if u convert your dollars to naira it is almost the same thing.
However, the policy has alot of questions to be answered.
If we do not improve on our GDP, then the policy may end up being disastrous.
May God help Nigeria.

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If what you did yesterday still looks big to you, you haven't done much today .
......Mike Bertola.

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Fowe.
Choices make or mar Chances ... add extra care to your choices today.

The News i dey see for internbet now is that
Yar'Adua Stops Soludo's New Naira Policy

http://www.mynaijanews.com/content/view/546/2/

O ga ooo, power dey counter power oooooo

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Fowe.
Choices make or mar Chances ... add extra care to your choices today.

Even if they didnt agree with the policy they should have at least been humble enough to discuss it with soludo. Maybe something good is in it? maybe they could have found a less authoritarian way of "convincing" soludo not to go ahead with his policy.

Methinks there is more to this than meets the eye: First a deputy gov of CBN (Under Soludo) was "promoted" to minister (Over Soludo); Then Soludo was "extracted " from the economic team. Now this!

If na me be Soludo, I'm out.

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More twisted than dreadlocks

Yea its seams there are some UnderG runssssss

_________________
Fowe.
Choices make or mar Chances ... add extra care to your choices today.

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If what you did yesterday still looks big to you, you haven't done much today .
......Mike Bertola.

Yes

I think it is...

_________________
Fowe.
Choices make or mar Chances ... add extra care to your choices today.

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Fowe.
Choices make or mar Chances ... add extra care to your choices today.

I think the idea of "bowing out.." is not a prove of being an hero. Sometimes it could be seen as being over-bearing, dominaring and inability to stand rejections or not being teachable.
It no big deal when you bring up an idea and you can't get your boss approval for implementation. Is better we have our minds open in africa so that we can stop this feeling of being victimised each time our idea is not celebrated.
I report oo!

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More twisted than dreadlocks

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Fowe.
Choices make or mar Chances ... add extra care to your choices today.

Have you ever proposed an idea that looks so good to you but when endorsed, it leads to such an unpleasant and unexpected situation?? Or maybe i should make it more personal. X2X, fowe assuming you made a a decision that affect the whole nation negatively and everyone comes to realise that with some ridiculus news publications flying arround. What will you do? (Remember the ovation is also high here ooo.. Are you going to use your method? "bowing out...")
can't wait for your response!

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More twisted than dreadlocks

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Fowe.
Choices make or mar Chances ... add extra care to your choices today.

What we need as good example in Nigeria is a leader that will resign given the slightest mistake or public disaproval. If Soludo does this he will become the leader to do that in recent time.

Most African leaders are sit-tight kind of leaders as if the positions are their inheritage.

Dr Olu Onagoruwa once did that under the late despot, Abacha. Abacha had roled out some obnotious decrees without the knowledge of 'number one Chief Law Officer", the Attorney General. He called a world press conference and resigned thereafter.

As rightly said if Etteh resigns she would become more honourable than a stupid valiant she current is.

_________________
Fowe.
Choices make or mar Chances ... add extra care to your choices today.

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More twisted than dreadlocks

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Genius begins great works;
Labour alone finishes them