Hello guys, with the way things are; the value of Naira will not rise anytime soon. As a matter of fact, we should brace up for the worse economic downturn in this country since independence. Why? Many reasons, but IRAN is my immediate and biggest worry.

With the nuclear deal Iran just struck with the world powers and economic and other sanctions about to be lifted, Nigeria should prepare for hard times. Why? Well Iran has not exported oil for a very long time so they have it on abundance. As such when Iran begins to flood the market with plenty oil, supply will be more than demand. Oil price will be greatly reduced and come to think of it, Iran us ready to go as low as possible. They have nothing to lose really.

In addition, India is Nigeria's biggest oil customer. With Iran now in the game, India may look away from Nigeria's oil. Iran's oil is of a better quality compared to Nigeria and Iran is also strategically positioned as they are also closer to India and our other buyers. Meaning demand for Nigeria's oil will reduce drastically.

Aside oil, we aren't doing well in other spheres. Nigeria consumes more than it produces. Inflation is rising, companies are laying off workers, industries are going comatose and even the government cannot pay salaries.

My brothers and sisters, if there is any better time to earn more money especially in dollars, it is now.

So how do increase our earning power to mitigate the effect of our falling naira and ailing economy? Please share your ideas and let's help each other.

Thanks.

Diversify the economy. Also hope for higher crude prices.

ladyF:
Diversify the economy. Also hope for higher crude prices.

? I agree with you. But you know those are beyond our control as individuals. We should rather think for ourselves too.

Good economic policies will help out. But for now, make sure your pocket is also not leaking or pick-pocket not around you, lest it becomes double jeopardy.

Force buhari to fulfill his promise; 1$:1N. That is all.

There is too much of naira in circulation.



And then I think government should encourage exportation and discourage importation and industrialization will help too. Above all, nigeria should not make oil our main source of income, we have enough land to farm....

Focus in doing business in dollars online

Say you had a goal to make $99 each week for a year from online marketing - an achievable goal right?

$99 x 52 weeks in a year = $5,148

At the current exchange rate: 198.95 x $5,148 = N1,024,195

Nigerian govt should gazette and sell 1,000,000 plots of land from our vast fallowing land mass to Nigerians in diaspora and foreigners at $10,000 per plot. The estates (UN CITY) should have many incentives like good roads and gas powered IPP power supply etc to make it attractive. This will bring in $10 billion .

Those who would want to develop their properties will also be sending in dollars . If an average of another $10 billion is sent in, then there will be an influx of $20 billion into our economy. This influx can immediately bring down the dollar to below 200. Massive Jobs will also be created and the economy will be effectively stimulated.

Secondly, we should ban many things that are being imported into this country and create single digit interest loan for entrepreneurs who would want to locally produce the banned items. Tax incentives should also be granted.

Once we can attract dollars in bulk and reduce our dependence on import, our currency will be strong again.

Print your own money, probably call it mikenig dollars.