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Dollar Scarcity Pushes Naira To 352 - Business (3) - Nairaland

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Naira Faces Further Decline On Continued Dollar Scarcity / Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch / Dollar Scarcity: Parents Of Overseas Students Weep In Banks (2) (3) (4)

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Re: Dollar Scarcity Pushes Naira To 352 by martin123: 10:25am On Feb 17, 2016
Is like Nigerians are not bordered about the happenings. I know if this was to be Jonathan's government, Lie Mohamed, APC and Tinubu owned Media (TVC and the Nation Newspaper) will be making a lot of NOISE. why are they all quiet

7 Likes

Re: Dollar Scarcity Pushes Naira To 352 by emzila(m): 10:26am On Feb 17, 2016
bigtt76:
As dollar de scarce so .....I no wan hear say our forex reserve de reduce o! Else CBN go explain how and where angry
can you tell us the relationship between the reduction in foreign reserve and the scarcity and what you think the government can do to avoid depleting the reserve. u sound like one who just want to talk because others are talking and unfortunately your likes like your comment.

1 Like

Re: Dollar Scarcity Pushes Naira To 352 by Booty4me: 10:27am On Feb 17, 2016
Abeg ℓ won learn yahoo yahoo. Who go teach M̶̲̅ε̲̣ meke him pm M̶̲̅ε̲̣
Re: Dollar Scarcity Pushes Naira To 352 by megareal: 10:33am On Feb 17, 2016
It's pathetic, really. I bet it will only get worse. So tighten your belts, cos CHANGE is really here.

2 Likes

Re: Dollar Scarcity Pushes Naira To 352 by maasoap(m): 10:34am On Feb 17, 2016
What do we expect? When desperate Jonathan and his thieving pdp members turned CBN into their personal banks withdrawing billions of dollars like tomorrow no dey. There was a country indeed!
Re: Dollar Scarcity Pushes Naira To 352 by viktor01(m): 10:40am On Feb 17, 2016
Eventually, we will all go back to farming.

Nigerians keep getting their hopes up that things will get better and yet things are getting worse by the day.

see my signature.

1 Like

Re: Dollar Scarcity Pushes Naira To 352 by onatisi(m): 10:41am On Feb 17, 2016
harmless011:
What I find disgusting in all this is that our president seems not a give a damn, instead of buhari to unveil his economic policy he is busy scheming on how to steal more money for his party through his over bloated 6 trillion budget.

2 Likes

Re: Dollar Scarcity Pushes Naira To 352 by Bolade005: 10:41am On Feb 17, 2016
Buhari should stop "siddon" look and act now. He should as a matter of urgency call on top economists and let them find a solution. The naira can't keep going down like this.

1 Like

Re: Dollar Scarcity Pushes Naira To 352 by RexTramadol1: 10:45am On Feb 17, 2016
Wait, make we do re-colonization oooooo before everything spoil






British, abeg come back!
Re: Dollar Scarcity Pushes Naira To 352 by aloeman15(m): 10:45am On Feb 17, 2016
This is for the benefit of those with similar thoughts, not just the op.

When foreign investors come to invest in capital projects, they pay in dollars for the assets they purchase.

If they intend creating infrastructure as mtn did, they use their dollars to both import facilities and- more importantly, to buy naira in order to pay workers, at least while they're setting up shop.
Hope that helps.

billyG:

They can only criticise ,but no profer solution.how can opening railway & power bring dollaaars.
Re: Dollar Scarcity Pushes Naira To 352 by RexTramadol1: 10:49am On Feb 17, 2016
Booty4me:
Abeg ℓ won learn yahoo yahoo. Who go teach M̶̲̅ε̲̣ meke him pm M̶̲̅ε̲̣






Me sef don reason am





Nothing pay as yahoo for this country again!





Even efcc dey do yahoo yahoo




Police no dey catch dem again,instead dem dey collect their own share in the largesse



If I no do yahoo, ask me wetin apun
Re: Dollar Scarcity Pushes Naira To 352 by onatisi(m): 10:58am On Feb 17, 2016
Bolade005:
Buhari should stop "siddon" look and act now. He should as a matter of urgency call on top economists and let them find a solution. The naira can't keep going down like this.
Bro forget,it is too late,the damage those wasted 7months of buhari doing nothing other than travelling all over has caused will take years to be corrected. All these things we are seeing now could have been nipped in the bud if immediately he assumed power he took the bulls by the horns but what we had was apc telliing Nigerians to give buhari 3 months honeymoon,now the honeymoon is turned sour

4 Likes

Re: Dollar Scarcity Pushes Naira To 352 by onatisi(m): 11:01am On Feb 17, 2016
martin123:
Is like Nigerians are not bordered about the happenings. I know if this was to be Jonathan's government, Lie Mohamed, APC and Tinubu owned Media (TVC and the Nation Newspaper) will be making a lot of NOISE. why are they all quiet
Leave them,they still believe buhari has a magic wand in his bag that he will use soon and they seem to have accepted the excuse of blaming pdp and gej,by may or June Nigerians will know better

5 Likes

Re: Dollar Scarcity Pushes Naira To 352 by tuniski: 11:06am On Feb 17, 2016
maasoap:
What do we expect? When desperate Jonathan and his thieving pdp members turned CBN into their personal banks withdrawing billions of dollars like tomorrow no dey. There was a country indeed!
Now that the saintly buhari and his angels are recovering money, why is the naira crashing and the economy comatose? 365 naira to d dollar today. Are we headed zimbabwe?

3 Likes

Re: Dollar Scarcity Pushes Naira To 352 by maasoap(m): 11:13am On Feb 17, 2016
tuniski:

Now that the saintly buhari and his angels are recovering money, why is the naira crashing and the economy comatose? 365 naira to d dollar today. Are we headed zimbabwe?
The damage had been done already. Just thank your star that he wasn't re-elected, it would have worse than your Zimbabwe example by now.
Re: Dollar Scarcity Pushes Naira To 352 by PBundles(m): 11:18am On Feb 17, 2016
But according to Mugabe, be happy we are not GAY, abi..........thats the biggest problem we have right........so with all the gay bashing if it goes to 1000 to 1 according to Mugabe and his cohorts, no issue, relax wink

Elosky20:
The way naira is going down, hope one day i wont sleep in nigeria and wake up in zimbabwe.
Re: Dollar Scarcity Pushes Naira To 352 by nwigwemark: 11:19am On Feb 17, 2016
Is this not the same dollar Okonjo Iweala and Oga Jona managed that didnt get up to N170. God is watching all of us

6 Likes

Re: Dollar Scarcity Pushes Naira To 352 by zemaik(m): 11:24am On Feb 17, 2016
Economists in the house, please drop your expert ideas of way forward. No doubt, the electorates of APC have put us in this mess. Let's be solution-conscious now instead of blaming one President Buhari who doesn't even understand what's going in the economy.

5 Likes

Re: Dollar Scarcity Pushes Naira To 352 by tuniski: 11:24am On Feb 17, 2016
maasoap:
The damage had been done already. Just thank your star that he wasn't re-elected, it would have worse than your Zimbabwe example by now.
it won't have been worse. What yeye damage has been done. It is a poor and incompetent foreman that blames his tool for his failures.
The propaganda of the current govt is certainly having some hypnotized. How can someone campaign for an office to solve problems for 12yrs only to be blaming everyone when given the chance?
This govt is clueless redifined!

7 Likes 1 Share

Re: Dollar Scarcity Pushes Naira To 352 by ColtPython(m): 11:33am On Feb 17, 2016
Global oil prices causing this shiii

And since our leaders focused solely on selling oil alone, that's why we will continue to be in this mess embarassed
Re: Dollar Scarcity Pushes Naira To 352 by Nobody: 11:35am On Feb 17, 2016
A country that ONLY depends on OIL and Can't Even Produce Toothpicks ! What do People expect to Happen when the OIL PRICE is Crashing every FOKIN day? ...........................

OIL PRICE CRASHED FROM $140 TO ABOUT $30

AND YOU EXPECT NAIRA TO KEEP GROWN STRONGER when you know that Nigeria is an IMPORTING NATION ? PLeasssssssssss! Start Exporting and you will see the real VALUE OF THE NAIRA !!!

2 Likes

Re: Dollar Scarcity Pushes Naira To 352 by Nobody: 11:35am On Feb 17, 2016
Its ironic that naira value is dropping so fast under the regime of Buhari who promised to make 1naira=1dollar.
Am just tired of this old man and his disgusting ineptitude.

4 Likes

Re: Dollar Scarcity Pushes Naira To 352 by chidinwachukwu(m): 11:36am On Feb 17, 2016
Its very Embarrassing. Sophisticated people how market.

4 Likes

Re: Dollar Scarcity Pushes Naira To 352 by chidinwachukwu(m): 11:36am On Feb 17, 2016
Its very Embarrassing. Sophisticated people how market?

1 Like

Re: Dollar Scarcity Pushes Naira To 352 by Nobody: 11:41am On Feb 17, 2016
The powers that be in this country are the main problem of this nation. PMB should gear up and rise up against this challenge in time.

1 Like

Re: Dollar Scarcity Pushes Naira To 352 by Sant1m: 11:42am On Feb 17, 2016
godoluwa:
it will surely hit 400 b4 the end of this month if CBN refuse to take necessary actions
The ignorance of people is pissing me off, have you ever heard Manufactures Association of Nigeria(MAN) complain that the high price of Dollar is driving them out of business? No,,, because it is to their advantage. They can now compete in price with importers. PMB is fighting to build local capacity and growth yet most of us are ignorant about this. What PMB is saying look, i will not deregulate, we will keep funding local MAN and all those who wants to import raw materials and machinery from the official market at 197, for those who ve the desire to import wine, tomato paste, yatch, planes, school fees etc go source your dollars yourself at 340 or above. Devaluation means NNPc will be importing at 340 and this will lead to increase in pump price, demand for salary increase, Fg and local manufacturers paying more for salaries, high inflation, importers having the advantage again and pricing MAN out of the market, loss of jobs and the country staring the circle over again. People should stop listening to Times, CNN, Blomberg they can and will never desire we become self reliant and produce at home, it is not to their Govt best interest.
Nations that took the leap make hard choices, it comes as a deliberate ploy to favour local manufacturing over imports. Its unfortunate we no longer support or look at things objectively. PMB is right on this. If truly the price of dollar at 340 is not to the advantage of local manufacturers why is it that the price of imported items or goods have not risen in proportion to the rise in dollar at the parrarel market? Simple, they want to still compete in pricing with local manufacturers. If this is sustained most of them will ve no choice other than to go into producing those items here, thereby employing Nigerians. That is PMB's desire.

5 Likes

Re: Dollar Scarcity Pushes Naira To 352 by wizkidblogger(f): 11:43am On Feb 17, 2016
This is the best time to make a lot of money from Google Adsense ooo

1 Like

Re: Dollar Scarcity Pushes Naira To 352 by jornie(m): 11:45am On Feb 17, 2016
Firefire:
Naira going down... Nigerian Naira might soon top the list of the valueless currency in the world going by this rate...>>>>>>>>

1. Vietnamese dong where 33,000 dong to buy just £1

2. Indonesian rupiah, which has an exchange rate of about 15,300 against the £1.

3. Columbian peso – you would need 2,880 of them to buy a single £1 coin.

4. The Tanzanian shilling, with an exchange rate of around 2,500 to £1.

5. South Korean's won is valued at about 1,730 to £1.

6. The Chilean peso is the sixth least valuable unit of currency – 760 are equivalent to £1.

7. Nigerian Naira where 470 Naira exchanges for £1.

8. Hungarian forint, at about 350 to the pound

It is well with Nigeria.
Browsky,Naira is not yet valueless,infact the exchange rate of 1 dollar to naira is still 199.25 naira in the globalmarket.The reason for the high cost of the dollar is its scarcity, this is a result of our already depleted foreign reserve currently ,i read its only 16 billion dollars now and cant run the cost our imports even for 6 months.so, the Govt. is currently trying to build it up while stylishly forcing sellers to accept naira as legal tender and encouraging patronage of locally made goods.Which is a good thing.A lot of people are ignorant of this because they only want here bad news when this is actually a good news..in my own opinion tho.
https://www.google.com/search?q=1+dollar+to+naira&ie=utf-8&oe=utf-8(Google exchange rate index)
Re: Dollar Scarcity Pushes Naira To 352 by Iko5000: 11:50am On Feb 17, 2016
Stay there blaming Jonathan while APC throws the country to the dogs.
maasoap:
What do we expect? When desperate Jonathan and his thieving pdp members turned CBN into their personal banks withdrawing billions of dollars like tomorrow no dey. There was a country indeed!

2 Likes

Re: Dollar Scarcity Pushes Naira To 352 by Frankiss44(m): 11:52am On Feb 17, 2016
Oladimejy:
Biafra pikin spoted
Receive sense..

3 Likes

Re: Dollar Scarcity Pushes Naira To 352 by 5thcolm(m): 12:21pm On Feb 17, 2016
Firefire:
Naira going down... Nigerian Naira might soon top the list of the valueless currency in the world going by this rate...>>>>>>>>

1. Vietnamese dong where 33,000 dong to buy just £1

2. Indonesian rupiah, which has an exchange rate of about 15,300 against the £1.

3. Columbian peso – you would need 2,880 of? them to buy a single £1 coin.

4. The Tanzanian shilling, with an exchange rate of around 2,500 to £1.

5. South Korean's won is valued at about 1,730 to £1.

6. The Chilean peso is the sixth least valuable unit of currency – 760 are equivalent to £1.

7. Nigerian Naira where 470 Naira exchanges for £1.

8. Hungarian forint, at about 350 to the pound



It is well with Nigeria.

Bros please dont misinform nigerians

U r comparing unofficial naira rate with listed countries official rate

Please compare naira official rate with other countries officil rate and repost

1 Like

Re: Dollar Scarcity Pushes Naira To 352 by piagetskinner(m): 12:22pm On Feb 17, 2016
The CBN should do something about this oo

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