Truth234:


Do you know their activities is what pushed our consumer prices up? By now we expect our FDI/capital importation to be up but it is not because investors are scared.

Just yesterday, India ordered oil from Malaysia saying Nigeria is too risky because of militant. We need capital importation to ease forex pressure, they are activities will jeopardize the economy.

Truth234:
First, the militants need to stop their madness.

Previously the central bank used to intervene to prop up Naira value, but now that crude oil buyers are scared to lift Nigerian oil due to fear of been attacked.

Our foreign revenue that is not enough has dropped even more.

01mcfadden:
Maybe our presido meant to say 1000naira will equate 1dollar. I think everything is pointing towards that direction now. The problem with critical liars is that after a while, they start believing their own lies.

yang:
The zoo must fall

Flexherbal:
Too bad!
If the Naira were to be a male organ, I would have cured it permanently, from this premature expulsion and weakness that it's experiencing with its partner, the Dolla, with My Highly Potent Herbal Tea For Men!

DaBullIT:
Did Naira drop or not ??

According to the news , Naira traded for 280 to USD , is this good news or not ? Yes it is good news for those who don't know , it means Naira is getting stronger and healthier and contrary to the claims of these bad news agents, Nigeria may not be as broke as they want us to believe , And since this is good news , someone say with me


SAI BABA oooooooooooooooooooooo



You asked a reasonable question, but you asked sarcastically , I personally have not forgotten the Yuan deal, i think the reason why the deal has not taken effect is probably because naira is yet to stabilize , to introduce a new currency to our CBN , i think Naira has to be climing against USD or should be at its peak and stable

Respect55:




U reason like a f00.l. I know u must be one of bubu's sympathisers engrossed in shifting blame to some other thing even when it is obvious that they are the real problems.

Why not advise him to employ economic persons without minding wia dey r from instead of filling the whole political offices in Nigeria with retarded northerners.

I know u r jobless and clueless.

Like fada like son

onatisi:
Ppl need to ask the cbn governor and buhari about the billions of yuan they said was coming. Or has china changed her mind too

Truth234:
The Nigerian Naira on Thursday weaken to an all-time low of N330.50 against the US dollar, following the Central Bank decision to abandon fix exchange rate.

The local currency dropped as much as 5.4 percent to N309 against the US dollar as of 12:24 GMT on Thursday before retreating to N292.40 on the interbank market.

A total of $7.27 million was traded at the interbank market, where traders were expecting the Central Bank to intervene as usual to ease dollar shortages, but up till now central bank is yet to intervene.

“Instead it was mopping up naira liquidity to support the currency. After market closed, a total of $7.10 million trades were done as low as 330.50 naira to the dollar,” a trader said.

“Now that the market has adjusted upwards it seems people are comfortable and that’s why we are seeing some trades,” he added.

Commercial Banks had been selling the dollar at 280 to 285 Naira after the central bank removed its 16-month-old peg of 197 Naira to a US dollar in June.

“But the lack of liquidity at those levels has curbed activity, leaving the central bank as the main supplier of dollars,” traders say.

http://investorsking.com/naira-hits-all-time-low-at-interbank-market/

Truth234:
First, the militants need to stop their madness.

Previously the central bank used to intervene to prop up Naira value, but now that crude oil buyers are scared to lift Nigerian oil due to fear of been attacked.

Our foreign revenue that is not enough has dropped even more.

countsparrow:
I dont know why people keep blaming Buhari for our woes, Nepa take light... Buhari, Dem steal cloth for market... Buahri


what of those that depleted the national reserve, sharing dollars in order for people to vote for them, Nigerians are quick to forget, and maybe that is cause suffering has been imbedded in their DNA, not mine tho...

i am not here to defend Buhari, before you peole come for my head. But politicians lie, and his Party lied about fulfilling campaign promises they cant deliver on. But i will rather have a lying politician rule over me than an Ignoramus, lying and stealing politician....

After una collect bag of rice and oil finish una dey complain, we are in all this together, infact all traveling activities should be grounded till further notice, so nobody will think they can escape from this mess we find ourselves.

Truth234:
First, the militants need to stop their madness.

Previously the central bank used to intervene to prop up Naira value, but now that crude oil buyers are scared to lift Nigerian oil due to fear of been attacked.

Our foreign revenue that is not enough has dropped even more.

david22uu:


Please always try to read before you spit out, dollar @ d interbank mkt reach an all time low of 330 and u are saying 280..
If you don't knw much about fx, please shut up

passionate88:

You want the Niger Delta agitators to stop their 'madness' but you don't want the dullard to do what they demanded if him

FuckTheMod:

You shall all fall ijn

M4gunners:
It was all about propaganda, stop believing everything you read about fg.

VenusBetty:
must he answer all, nobody get monopoly of wahala o, if e answer militants finish another group go rise up and come up with demands, common, is this all you have?

MKO4ever:
welcome to the reality
I once heard that in university of Ibadan, the department of theatre art is located behind the faculty of social science.
So that once people are through with their theatre and drama they will then proceed to face the reality
Nigeria had been in the theatre, art and drama department for too long
But now we are in social science to face the reality.
Therefore welcome to the reality

yang:
The zoo must fall

bsaying:
I hear some people say its gonna get better in this buhari regime..
Hope maketh not ashamed...
Buhari pls sir make us not ashamed

SmartMugu:

It may have nothing to do with either GEJ or Buhari or anyone else. When pushed to the wall, everyone knows when to react. The cost of everything is way higher than it was during GEJ era. For communities that relied on fishing, amnesty funds etc, all that halted for some reasons. I think that may be one reason the militants sprung up.

eddiebruk:
The Whole of this Country needs a reform, Irrespective of our differences

SmartMugu:

I agree with you. Their actions isn't helping anyone, not even their own people. We can only hope the government and them work things out.

VenusBetty:
I remember Okonjo Iweala warning us in the last regime about the econmy, the issue is even if Jonathan still remains the President, this thing about the economy will still have affected us. God bless Nigeria

AxeurdaddyIX:



Wise people drive home their points without an attack on persona. He gave his own suggestion, kindly discredit or point out the flaws, you can do that without resorting to crude insults

AxeurdaddyIX:


Oh please, if you must talk, say something reasonable that might help drag this country out of this quagmire. It's y'all cerebral deficient folks with a very poor thinking faculty who always use this The Zoo Must Fall line, it's so cliche

Say something wiser or forever hold your peace

priceaction:

The problem I think is that government need to find a way to increase dollar inflows without borrowing ,alternative to oil sales. And that is what I think we don't have at the moment.
This problem would have been minor if buhari has immediately carried Niger Deltans along diplomatically. Make amendments with the igbos despite their low support for him. Everything is not about force.
But here we are. Lose lose situations. No direct investments. Nd wahala, low oil sale, low oil price, deflection in FX accounts, increase in foreign goods dependant. Mono economy over long time in the midst of abundance of resources.

Even if jona is there , we will have similar situation too because BH will be the one bleeping the economy. Nigeria is already Bleep.d up by our own leaders and it will be hard to redeem it as at now. Only decentralization of Central government and resource control can slightly improve the problem and that is what elites don't want .