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Bussy Duro and 10 others like this.
Danny Gold
So buhari is truly the president? 🙆🙆🙆🙆 hmmmm. Nigeria and Nigerians sorry.
Endy Edeson
@gold: are you doubting his presidency?
Danny Gold
Hmmmmmm!!. Am still surprised and needs explanations on how it happened Endy Edeson
Mercy Dan
No be small enjoyment. See as em come de young d fresh anyhow. There's God!!!
Danny Gold
Titus Shodiya
welcome back baba
Kennedy Umolo
That's the CIC, Baba welcome back to home
Tunde Rasaq
Welcome and well-done sai baba
Sola Ajiboye Omotowo
God is your Strength.. My able President.
Okpos Tega Marvelous
bros do we still have labour congress in dis country
Salako Saint's Stephen
NLC and TUC have went on holidays
Manas Mwaza Zacks
predict baba next trip and win one cow..
Ernest Isaac Mfon
Is
this how we will continue? I just bought Paint of garri for #500.
Derica of rice is being sold for #220. Nigeria has really change.
Continue travelling out our mobile president
DjAblongo Darey Blaq
weyrey president.....I
Isiaq Zakariyah
PMB, THE ECONOMIST!
PMB has done it again. The school cert holder (?) has done what a PhD holder could not.
Very simple economics. We buy most of our goods from China, so why must we pay the Chinese in dollars? The Chinese buy a lot of crude oil from us, so why must they pay us in dollars?
So PMB made a deal with the Chinese. We pay for the goods we buy from China in Yuan, the Chinese currency. They buy our crude oil and pay in Yuan.
The exchange rate is to be pegged at 30 Naira to one Yuan or RMB.
So how does it favour us? Simple.
The Yuan is now 6.48 to a dollar. So if you pay 30 Naira to the Yuan, that would be equivalent to 194.4 Naira to the dollar.
Since the dollar exchanges for 199 Naira, you save N4.6. 199 - 194.4 = 4.6. Simple, huh?
In simple terms, PMB has just strengthened the Naira by 9.15%!
And that's not the end of the story. As we begin to deal in the Yuan, the demand for dollar would plummet and this in turn would weaken the dollar. It would crash to around 140 Naira to the dollar.
May God bless PMB. Can I hear an amen?!
PMB has done it again. The school cert holder (?) has done what a PhD holder could not.
Very simple economics. We buy most of our goods from China, so why must we pay the Chinese in dollars? The Chinese buy a lot of crude oil from us, so why must they pay us in dollars?
So PMB made a deal with the Chinese. We pay for the goods we buy from China in Yuan, the Chinese currency. They buy our crude oil and pay in Yuan.
The exchange rate is to be pegged at 30 Naira to one Yuan or RMB.
So how does it favour us? Simple.
The Yuan is now 6.48 to a dollar. So if you pay 30 Naira to the Yuan, that would be equivalent to 194.4 Naira to the dollar.
Since the dollar exchanges for 199 Naira, you save N4.6. 199 - 194.4 = 4.6. Simple, huh?
In simple terms, PMB has just strengthened the Naira by 9.15%!
And that's not the end of the story. As we begin to deal in the Yuan, the demand for dollar would plummet and this in turn would weaken the dollar. It would crash to around 140 Naira to the dollar.
May God bless PMB. Can I hear an amen?!