Naira dun finally turn coin.. swinging up and down like an old woman’s breast.. 🤦‍♂️

Governance isn't an easy task. Before you criticise anything you don't understand think first. My advice to this Government is to always look critically to their policies before implementing. Think of the negative effect on Nigerians first some positives are not really worth it on the long run. E dey easy to talk and criticise but to work and build no dey easy o. I remember the campaign strategy in 2015, the government is yours now.Are you doing things differently? How are Nigerians faring? Naira floating and subsidy may not be reversed and even if it is done, it won't change anything. Fixing the effect of your hasty decisions should be your priority.We don't need new projects for now we need what we already have to work properly. Until we learn to maintain what we have on ground building new ones will not work, it will always collapse like the old ones. We don't need new roads, airports, palliative, ₦5k - ₦50k grant and loans, stadiums, refinery and the rest. We need to work on the ones we have and develop them and put strategies to ensure they are sustainable. Please do all you can to bring down cost of petroleum products and as for the dollar and economy when Nigeria works the economy and dollar will behave.

[i][/i] Please note: This is not to criticize or condemn the government but to encourage and support. I no wan wahala o.

Nigerians should expect things to be more expensive then




Tinubu still dey find investors up and down

So, is no longer the crypto that is causing it?

emerged01:


I still wonder what can be the cause of high demand for dollar when Dangote is supplying diesel. That alone should ease the pressure.

Dangote is singlehandedly bleeping Nigeria. And the government is suppling the lubes so the pressure is going NOWHERE.

He's IMPORTING majority of his crude oil and paying in DOLLARS.

Plus Dangote took HUGE dollar loans to finance his refinery. After the completion, he convinced the government to sell some crude oil to him in NAIRA.

He's selling diesel and other products in Naira to Nigeria.

But his Naira wlll NOT remain Naira for long. Dangote will convert them to dollars to SERVICE the loans he took to finance the refinery project.


In the meantime, Nigeria still has to import MORE petroleum products.

Add to that, the departure of pharmaceutical companies from Nigeria forcing Nigeria to import common drugs and you have a FOREX NIGHTMARE.

nedekid:

My card works internationally. Aliexpress etc. $3k monthly limit.
Normal na noira bank card.

which bank card?

Honestey:
Aisha Yesufu and her band of haters must be so happy now. She said keep your dollars closed and now we are sliding back to 1900. Good people of Nigeria must keep these enemies farrrr away from Aso Rock

It's a shame you don't know the real enemies of this country!! Tueh!!!

This makes sense: increase in supply backed by reduction IN DEMAND makes price crash

First we have to reduce the demand for the dollar

1) All the avenues in which earned dollar leaves the country should be mitigated or blocked completey

2) Increase the demand of the naira not just in Nigeria BUT in the International community BY selling crude oil in Naira. I strongly believe that oil producing countries can sell in their country currency. The dollar is strongly valued because crude oil is sold in dollar and ALL COUNTRIES NEED CRUDE OIL. so you see the Big Picture now

Thewrath:
Who will they blame this time around? The thing about lieing is that you need to tell more lies to sustain the old ones

Allow cards to work internationally,especially as we are not self sufficient….when everyone can easily access dollars,demand/price will reduce when supply is excess

CBN just dashing people free money.. you are intervening, you also need to mop up your exports, build industries, improve power all simultaneously else every effort is just zero ⭕️

Namaster:


Dangote is singlehandedly bleeping Nigeria. And the government is suppling the lubes so the pressure is going NOWHERE.

He's IMPORTING majority of his crude oil and paying in DOLLARS.

Plus Dangote took HUGE dollar loans to finance his refinery. After the completion, he convinced the government to sell some crude oil to him in NAIRA.

He's selling diesel and other products in Naira to Nigeria.

But his Naira wlll NOT remain Naira for long. Dangote will convert them to dollars to SERVICE the loans he took to finance the refinery project.


In the meantime, Nigeria still has to import MORE petroleum products.

Add to that, the departure of pharmaceutical companies from Nigeria forcing Nigeria to import common drugs and you have a FOREX NIGHTMARE.

Hmmm,double problem.

For those who held their dollars close this is the time to sell o before your joy turn into sorrow again. Enough said

post=129642419:
Another Increase Again, God Almighty Help Me

I might be wrong but maybe it intentional as incentive for diaspora remittance end of month after the inflow the will resume again.. This na end of month many diaspora are getting ready for salary..

CheapHomes1:


you are one of those that voted for tinubu. that is great. pls tell us how well he has achieved what you say you voted him for?

I am not dumb to expect a Rome in a day

LadyRosa:


I no go lie, the dollar rise is favouring folks around me. And I'm benefitting from it.

I am at crossroad weda to pray for its rise or fall...

Nigeria is gone! Forget this country.

I dey favour me. So let it rise jor

As e reduce nothing favour me


Been a patriotic ended in 2023 (for me). I dont care if the country collapse now. Na to save funds JAPA

As an economist, I know this will happen.

bigiyaro:
Enemies of Nigeria are going to work again!!! That binance executive that escaped is manupulating naira from Kenya.

Look how ridiculous you sound one individual is powerful enough to singlehandedly manipulate your currency from another nation, what does that tell you about you and your currency? You'd rather blame something than fix your problems cuz blaming is easier for incompetent people, excuses upon excuses, it's alway someone's fault, Bunch of clueless and paranoid people blinded by ethnic bigotry and blind loyalty which deprives you of the ability to be logical when reasoning, that is if you even reason at all.

NOwazobia:
No, na crypto cause am.


Banned everything related with crypto and forex and see Nigeria become an Eldorado...


Idiot government and its dumb, hungry foot soldiers.


Atleast we can now live comfortably with the increase knowing that a decrease won't improve standard of living.

Illiterate that can't even pass a jamb economics exam explain how cryptocurrencies make the naira to depreciate

theredaddy:

I am not dumb to expect a Rome in a day

I dont remember asking you if you what you expect or dont expect. my question goes thus: you are one of those that voted for tinubu. that is great. pls tell us how well he has achieved what you say you voted him for?

Thewrath:
Who will they blame this time around? The thing about lieing is that you need to tell more lies to sustain the old ones

Allow cards to work internationally,especially as we are not self sufficient….when everyone can easily access dollars,demand/price will reduce when supply is excess

Global interest why cards don't work internationally not Nigerian government.

SunMusk:
It doesn't favour you, even you re earning in dollars. The disadvantage is greater than anything you re enjoying now. I'm earning in dollars but my pray is for naria to back around 900-500 rate. Effect is massive.

If you earn in dollar or run a business that will pay you in dollar. E go benefit you die (thats if you are wise).

Let me give you an example. I am a freelance writer and i plan on taking as much jobs as i can, then pay my editors in naira. Lol double gains for me. Even if dollar reach 2k, the 1k naira per 1k words i pay will not change, but my earnings will increase and i can take more jobs and employ more work force. If i used to make 500 usd before, i can now double it to 1k usd. Dey play

In summary i have cheap labour.

nedekid:

My card works internationally. Aliexpress etc. $3k monthly limit.
Normal naira bank card.

Which bank?

Increased demand or yahaya Bello caused it

Those of you expecting this fire brigade economics to bring down the rate of the dollar to ₦500 - ₦700 are either high on goat urine or cattle feces.

I'm grateful to Peter Obi and Yusuf Datti Baba-Ahmed whose economic intelligence and statistical analysis compelled me to do an in-depth study of economics especially macro-economics.

If not I would have been daft like many others who were rejoicing that dollar was coming down.

Mshewwww

Namaster:
Tinubu did not understand the meaning of floating the Naira before they implemented it. The ARTIFICIAL Naira appreciation in the past few weeks is simply because the CBN had been furnishing BDCs with dollars at absurd rates.

Now that they've been called out for depleting the Foreign Reserves by trying to defend the Naira, they've cut back a little and Naira is finding its real baseline.

Fun fact: it's NOT there yet. The exchange rate will get worse.

A lot of what you said is accurate.

The government can reduce pressure on the Naira if it simply spoke truth about the fuel subsidy and deregulate the price.

We said it, but they wouldn't believe us. It's not a rocket science, economics is practical 😂😂😂

Honestey:
Aisha Yesufu and her band of haters must be so happy now. She said keep your dollars closed and now we are sliding back to 1900. Good people of Nigeria must keep these enemies farrrr away from Aso Rock

This has nothing to do with enemies of anybody. This is simple economic problems that requires practical and workable solutions if the right things are done.
Nigerians and emotional sentiments msheewww

This seems like a dilemma but the solution to this is quite simple

Dangote would have to start selling THE REFINED CRUDE to the international community and not just only in Nigeria so that he can bring forex to the country

And if you observe, I said THE REFINED CRUDE and not just the crude itself because if you look at it, crude oil refined gives petrol, diesel and jet fuel.

So selling the petrol and diesel and jet fuel separately brings Is more forex compared to just selling the crude oil itself


And guess what

Nigeria crude oil is in DEMAND so we can sell it to the international markets and bring in forex for Dangote to service his loans!


And about the pharmaceutical companies leaving Nigeria, I wish I knew how to bring them back to stay!

Namaster:


Dangote is singlehandedly bleeping Nigeria. And the government is suppling the lubes so the pressure is going NOWHERE.

He's IMPORTING majority of his crude oil and paying in DOLLARS.

Plus Dangote took HUGE dollar loans to finance his refinery. After the completion, he convinced the government to sell some crude oil to him in NAIRA.

He's selling diesel and other products in Naira to Nigeria.

But his Naira wlll NOT remain Naira for long. Dangote will convert them to dollars to SERVICE the loans he took to finance the refinery project.


In the meantime, Nigeria still has to import MORE petroleum products.

Add to that, the departure of pharmaceutical companies from Nigeria forcing Nigeria to import common drugs and you have a FOREX NIGHTMARE.

Henix:
Who doesn't know that what CBN has been doing is not sustainable

it's visible to the blind and audible to the deaf.

So where did I read tjat BDCs were buying dolar for N980, that dolar was prrforming better than expected.

CrossRhodes:

You are dull indeed...
So it's Aisha you want to blame and not the clueless CBN man?

You are very dull indeed, if you know nothing about economics shut your gob and view comments.

Emotions and economics no dey mix

Haswear very dull. This has proven that most average Nigerians don't read and instead of shutting up and quietly seek for knowledge they would be making noise and displaying their crass ignorance online.

I despise ignorant, indolent and stewpid people who aren't willing to learn.

Blaze14k:

Why do you keep making yourself look more stupid than you already are

honestly it's so pathetic.

Na politicians join dey causes this thing