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Naira Will Soon Sell At 300naira To A Dollar - Politics - Nairaland

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Naira Will Soon Sell At 300naira To A Dollar by bigass(f): 12:17pm On Feb 21, 2015
Naira will soon sell at 300NAIRA TO A DOLLAR. currently 230

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Re: Naira Will Soon Sell At 300naira To A Dollar by Adminisher: 12:28pm On Feb 21, 2015
bigass:
Naira will soon sell at 300NAIRA TO A DOLLAR. currently 230

There are two types of Nigerian voters now. Those who want the economy better, want to curb corruption, want to stop capital flight and work for real growth. These are the people for BUHARI. On the other hand, there are the people in bondage to tribalism, old ethnic rivalries and religious politics. They know the road Jonathan has taken is wrong, they realize Nigeria made $800bn in oil, gas, taxes and government asset sales in the last five years with nothing to show for it but a debt of $69bn.
However their uncles have lied to them about the north, Buhari, ''born to rule'', sharia, ...et,c and just for this reason alone they are going to permit a few people of average age (55) cart away their future and that of their children.

I am perversely happy at the unemployment and hyper inflation that will hit in March. Yes, Nigerians only learn the hard way and they must learn this one. People have to experience not being able to pay rents, school fees, struggling to feed the family, almost broken down electric power distribution grid before they know they have been robbed but it will be a good experience.

For now let the self deception continue

12 Likes

Re: Naira Will Soon Sell At 300naira To A Dollar by warrenweste(m): 2:06pm On Feb 21, 2015
bigass:
Naira will soon sell at 300NAIRA TO A DOLLAR. currently 230

thats nt true its 201 at access bank on thursday
Re: Naira Will Soon Sell At 300naira To A Dollar by signz: 2:11pm On Feb 21, 2015
warrenweste:


thats nt true its 201 at access bank on thursday

I believe you use card?

I also believe the poster meant black market/bureau de change exchange rate.

The recent increase in exchange rate may also be connected with election postponement. That's why I don't want this election to be postponed again. Lets get it over with come March 28.

Any other postponement, the exchange rate may be 500 naira to $1.

2 Likes

Re: Naira Will Soon Sell At 300naira To A Dollar by bigass(f): 2:18pm On Feb 21, 2015
warrenweste:


thats nt true its 201 at access bank on thursday

bank na cbd?
Re: Naira Will Soon Sell At 300naira To A Dollar by warrenweste(m): 6:38pm On Feb 21, 2015
signz:


I believe you use card?

I also believe the poster meant black market/bureau de change exchange rate.

The recent increase in exchange rate may also be connected with election postponement. That's why I don't want this election to be postponed again. Lets get it over with come March 28.

Any other postponement, the exchange rate may be 500 naira to $1.

Yea your right I was talking about online payment didn't knw it has gone these worse Chai 230 embarassed

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Re: Naira Will Soon Sell At 300naira To A Dollar by youngalex(m): 7:20pm On Feb 21, 2015
BigAss..what a name,me likey
Nigeria is a monoproduct dependent economy and import based obviously the demand for dollar is on the increase owing to political instability and uncertainty in addition to fluctuating oil prices..Even if Buhari is there he will not perform any miracle..don't be decieved
Re: Naira Will Soon Sell At 300naira To A Dollar by focus7: 8:17pm On Feb 21, 2015
The biggest mistake Nigeria will make is to re-elect Jonathan for the second term. Jonathan is so clueless that he may be taking the a dollar to 500naira.

3 Likes

Re: Naira Will Soon Sell At 300naira To A Dollar by PassingShot(m): 8:38pm On Feb 21, 2015
focus7:
The biggest mistake Nigeria will make is to re-elect Jonathan for the second term. Jonathan is so clueless that he may be taking the a dollar to 500naira.
Re: Naira Will Soon Sell At 300naira To A Dollar by LRNZH(m): 8:47pm On Feb 21, 2015
GEJ, NOI and Emefiele handling of the economy is a big scam.
Naira is in freefall because all earnings were watsed by GEJs govt. Another four years of GEJ and I see Naira at N1000 to 1 USD by 2018.
See for yourself:


LRNZH:


[b] We are not supposed to be broke to the point of devaluing the Naira immediately oil price went south.
Corruption and not Boko Haram is the problem.
The $1Billion borrowed to fight insecurity is nothing compared to what is being stolen annually in Nigeria. We estimate between 10 and 15 Billion US Dollars is stolen every year in Nigeria public sector.

Take a look at this statistics:

OBJ (2007 Ave.)
Reserves: $53 billion
National Debt: $17Billion (12% of GDP)
Oil Price: $64/barrel

Yar'adua (2009 Ave.)
Reserves: $42 billion
National Debt: $21Billion (11.6% of GDP)
Oil Price: $53/barrel

GEJ (2014 Ave.)
Reserves: $38 Billion
National Debt: $49Billion (18.5% of GDP)
Oil Price: $89/barrel

Oil Price Chart: www.nairaland.com/attachments/2006543_2015010806_09_56_jpeg2ff3fed32640f68a143f27ad54c27917

With the best oil price regime sustained over a long period, GEJ's govt cannot claim to have performed better that Yar'adua or OBJ. Nigeria may never get the sustained high oil price oppprtunity we got under GEJ.
But under GEJ, no improvement in Power, worsening Security, No Refineries, Oil bunkering of 400,000 barrels per day.

Again, who is fooling who? GEJ has the worst stewardship of the past 3 PDP Presidents.
[/b]

References-
Reserves: http://www.thisdaylive.com/articles/2007-2012-movement-in-foreign-reserves-account/138991/
http://dailyindependentnig.com/2014/06/external-reserves-shed-11-45b-one-year/

World Debts: http://www.economist.com/content/global_debt_clock?page=8

Oil Price: http://inflationdata.com/Inflation/Inflation_Rate/Historical_Oil_Prices_Table.asp
Chart- http://www.nasdaq.com/markets/crude-oil.aspx?timeframe=10y

Did you read 400,000 barrels of crude oil is stolen daily by oil bunkerers? Tompolo is supposed to be protecting Nigeria from these bunkerers. Tompolo has bought private jet, warships while Asari's building a university in Benin Republic.
400,000 barrels per day at 80 per barrel is about $10 Billion stolen annually.

This is the real issue. Is this what you want us to vote for?

1 Like

Re: Naira Will Soon Sell At 300naira To A Dollar by Ngwakwe: 9:02pm On Feb 21, 2015
Blame it on Jega's plan to rig the election and his refusal to accept responsibility knowing fully well that INEC wasn't ready for the election and has the powers to shift elections without pushing the excuses to security when the military has no place in coordination of elections according to our constitution
Re: Naira Will Soon Sell At 300naira To A Dollar by musiwa94: 9:04pm On Feb 21, 2015
m
Re: Naira Will Soon Sell At 300naira To A Dollar by CaptainAmerica1: 9:39pm On Feb 21, 2015
Ngwakwe:
Blame it on Jega's plan to rig the election and his refusal to accept responsibility knowing fully well that INEC wasn't ready for the election and has the powers to shift elections without pushing the excuses to security when the military has no place in coordination of elections according to our constitution

Let's believe what you said is true even though the same PDP have now confided in him.

How does the election postponement affect the value of Naira? Am I missing something here
Re: Naira Will Soon Sell At 300naira To A Dollar by stevecantrell: 9:58pm On Feb 21, 2015
CaptainAmerica1:


Let's believe what you said is true even though the same PDP have now confided in him.

How does the election postponement affect the value of Naira? Am I missing something here

I wonder too.

Some pseudo-economists here are saying dependence on oil is the cause of this devaluation, or dip in the crude oil market when it is obvious that Nigeria is the only OPEC nation in this devaluation mess.

Why ? Because savings worth billions of dollars are either lying somewhere in personal offshore accounts, or have been wasted away at home and most recently, been used for election campaign..

The naira will not magically bounce back after elections, any damage to this currency is usually permanent, there is historical data to back this up.

2 Likes

Re: Naira Will Soon Sell At 300naira To A Dollar by tociano009(m): 10:39pm On Feb 21, 2015
bigass:
Naira will soon sell at 300NAIRA TO A DOLLAR. currently 230
Enemy of Progress
Re: Naira Will Soon Sell At 300naira To A Dollar by October1960: 6:07pm On Mar 18, 2015
Telling the truth based on the trajectory of the past 6 years is not being an enemy of progress.

tociano009:
Enemy of Progress

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