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Nairaland Forum / Nairaland / General / Business / Naira Drops To 251/dollar, External Reserves Now $29.7bn (22373 Views)
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Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by LordAdam: 8:53am On Dec 07, 2015 |
The worrying fact about the drop is that the next OPEC meeting is in June, 2016. So we can pretty much assume that the price of oil will hover around current prices or fall further till mid next year. According to estimates, CBN can only maintain the static exchange rate for about 10 more months or there about. Bottom line is, unless oil prices increase significantly by some weird twist of fate, the official Naira rate will have fallen by a huge landslide by this time next year. And it ain't going to be funny because we are an import based economy. Regardless of party partisanship, let us really hope that the gamble by CBN/PMB pays off, cause if it doesn't, the country will fall into 2008/2009 Greece style recession. -Lord 1 Like |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by rikamann: 8:55am On Dec 07, 2015 |
nnachukz: Nairaland should be a learning place where we exchange ideas, but it has been high jacked lately by people who want to make front pages without ideas. Forget about your political alignments, support Nigeria to come out of our depressed state. Say 'NO' to oil cabals who have been making life difficult for Nigeria and Nigerians. Say 'NO' to people picking billions without doing anything. Say 'NO' to deceit! |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by mekaboy(m): 8:56am On Dec 07, 2015 |
Buhari swallow your pride and #BringBackOkonjoIweala 2 Likes |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Nobody: 8:56am On Dec 07, 2015 |
Please were is the CHANGE? Buhari why are you killing Nigerian economy? 2 Likes |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by obasiken: 9:02am On Dec 07, 2015 |
Zico5: Zombie alert |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by dotune(m): 9:04am On Dec 07, 2015 |
Have fallen by 20 per cent since the end of June 2014, when Brent crude prices began a more than 60 per cent plunge, hammering the finances of Africa’s largest economy and biggest No wonder they said, if u want to hide some thing from a black man, put it inside a book. It's how you people are blaming Buhari for this naira-dollar fall. And yet you people read in the article where it says the reserves have been falling since June 2014, the 15th year of PDP as a ruling party? What were they doing when we were selling crude at $150 per barrel. And most of you are youths, no wonder many of Nigerian youths are unemployable. We can't even explain to a foreigner what's responsible for our economy crisis. 1 Like |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by 2sex(m): 9:04am On Dec 07, 2015 |
Demmocrats:bros, i used to think like this... but look deeply, it affects both ends. |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Darlduchi: 9:05am On Dec 07, 2015 |
Don't mind those Ishmalites, they have been doing same to me even went as far as deleating all my post that relates to us Biafrans. They get unsettled that i post the leaked audio tapes of APC plans to destroy Igbo business in the North and west before the end of Buhari's administration. I have made it clear to them that words must get out, i am not in Nairaland to look at Totonto's cleavage. abouzaid: |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by 400billionman: 9:08am On Dec 07, 2015 |
Where are those supporting Buhari's CBN policies ? If i no do economics, at least i do business. Let him keep fighting Igbo businesses in the name of protecting the naira ? The naira has denied Bubari. Naira to Hit N300 by June 2016 1 Like |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by slap1(m): 9:10am On Dec 07, 2015 |
chernest2002: |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by serendipityF: 9:12am On Dec 07, 2015 |
Na wa ooo...na like dis we go dey dey? Baba plz do something sir. May God help u |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by 2sex(m): 9:14am On Dec 07, 2015 |
Immacula8:are you just realising this? Many of the problems plaguing the country, including the current fuel scarcity are caused by Nigerians themselves, the greedy ones. |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by wiseoneking: 9:14am On Dec 07, 2015 |
sapiosexual1:Continue to blame Gej until you are grand father. Buhari will deal with u. Isike? |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by anonimi: 9:17am On Dec 07, 2015 |
nnachukz: He said they are NOISE makers, didn't he And they are really making the noise while the country slips away into depression. www.nairaland.com/attachments/3160941_laiarmy_jpeg67f3d1dbe3389b408d1c95832345f564 |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Johnrake69: 9:19am On Dec 07, 2015 |
tinobrace: The impact is that the Nigerian economy will be experiencing an imported inflation coupled with the domestic inflation we are currently witnessing. Reason being that we are import dependent . Buh again, there is an opportunity for local manufacturers because the fall of the naira means that imported goods will become quite expensive. Its actually not the best time for the Nigerian economy and the Buhari's led administration have alot of work to do. |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Nobody: 9:24am On Dec 07, 2015 |
wiseoneking:You no get chill oo, read it again, it's a veiled jab at APC for always blaming misfortunes on the past administration |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Nobody: 9:25am On Dec 07, 2015 |
darlingtonVII:Your appreciation of humor though....... You no get joy for your life? |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by DahtDopeBoi(m): 9:31am On Dec 07, 2015 |
How I wish Boiz fit cash out with this current dollar rate but banks no go gree sha #OnlyRealNiggasGoRelate |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Themandator: 9:31am On Dec 07, 2015 |
Body language pumped into the reserve will sure stabilize it... Mumu country. Continue to over stretch the CBN... They will deal with monetary as well as fiscal policy while the rest devise lies and sensational stories to distract the populace |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Themandator: 9:37am On Dec 07, 2015 |
dotune: And why has Buhari not arrested the fall? Apart from the supplementary budget to pay subsidy what else has he been doing with money as to cause a continuous decline in our reserve? I am sure we make enough money to pay for his transportation around the world and that need not come from our reserve. 1 Like |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by dotune(m): 9:46am On Dec 07, 2015 |
Themandator: Well I'm not saying Buhari has done anything right...but I'm saying it is wrong to blame him for inheriting a crumbling economy. Nigeria is not the only OPEC experiencing this crisis. But we expect some cushioning against this fall. Maybe that's why he has summoned an emergency FEC meeting. And traveling abroad, if it's not important for the progress of this country, I don't think he will attend. Nigeria has suffered an international relationship with some of the countries that can help us, one of the things he is doing is to repair this relationship, hence the China commitment to complete the abandoned power project. The country is very broke. He will be a crazy fellow to squander the little resources left at this time, I'd like to think that way until I'm proven wrong sir. |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Abeymills(m): 9:48am On Dec 07, 2015 |
D country is in a mess in d hands of bubuhari no meaningful achievements in all aspect of gud goverance all its shoutin is coruption d same cabinet bubu held min of petroleum is dancin shoki fuel2day no fuel 2morow dollar is dancin shakitibobo its sad so sad dat a great nation like nigeria is almost goin in2extintion under d dis dullard president oya bring ur yeye hand make i flog u ediot!!!
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Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by chidooh1: 9:51am On Dec 07, 2015 |
I see everything shattering |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by 4C2215131: 9:52am On Dec 07, 2015 |
And that's the way the cookie crumbles. |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Nobody: 9:59am On Dec 07, 2015 |
So much for 1 to 1. |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by ADAMUdaCOWBOY: 10:03am On Dec 07, 2015 |
chosen04:yes, you guys are in a zoo and you remember what we did to that lion that attempted to escape the zoo in jos, that is what we will do to you chest-beating flat heads when you try to escape. We hate escapeeism, it pisses us off! |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Mishydoo(m): 10:03am On Dec 07, 2015 |
IT AFF TAY DAT I HEAR 'SAI BABA' OH... |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by mccoy47(m): 10:03am On Dec 07, 2015 |
Good morning Nigeria! |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by nobeku: 10:05am On Dec 07, 2015 |
chernest2002:little kids coming out to share and sell their toffee on online threads... What do you know about the parallel market and black market? |
Re: Naira Drops To 251/dollar, External Reserves Now $29.7bn by Nobody: 10:15am On Dec 07, 2015 |
wiseoneking:Daalu, disike. |
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