I believe somewhere around N185 to $1 (official rate) is the point at which the common man on the street will start feeling the stark chill effect of Naira devaluation. I have a feeling Aso Rock is watching the exchange rate very closely now - they will start getting seriously nervous if Naira threatens N180 and the currency outlook remains negative going forward.

The good news for GEJ is that an official rate of N185 to $1 is still a long way away and may not come to pass because GEJ would rather throw the remaining $35 billion reserve at propping up the Naira than go into a Presidential election as the man that oversaw a significant devaluation of the Naira.

The downside of such a reckless act will be that a few weeks after the election, the winning President may need to go cap in hand begging and prostrating before Obama to allow the World Bank to lend us money.

Make no mistake bout it - America will ensure total humiliation of Nigeria before the World Bank releases a penny. They will make us pay for all the undiplomatic public noises our government officials are making now about America not supporting Nigeria in the fight against Boko Haram, and us threatening to turn to Russia.

Booking my flight to US

Good plan

Actually, dont think there is need for panic yet.

Y'all! no panic pls.

edogirl2:

Good plan

Actually, dont think there is need for panic yet.

Y'all! no panic pls.

And your point is?

Well, I am expressing my opinion and hopefully sharing my little knowledge about the likely outcome of things. Not everyone on Nairaland understands all the talk about exchange rate and what not.

Hopefully people can plan ahead. You can do that without panicking.