Why is it that anytime Buhari travel naira appreciate? That man is enemy of progress!

No improvement if you ask me

Kjking:
one step at a time... meanwhile please help a brother... what do you do when your lecturers are doing everything possible to bring your result CGP down? they've replaced all prospective male with 2.1 with the ladies! I'm tired of Nigeria school

what department? by the way, while your still in school, try learn some industrial skills related with your course. 2.1without a skill is worse than 3rd class.

Useless gaining.

What happens when they stop adding money manually like Locomotive Train using coal.

Now that d old man is out of the country again, the naira has started gaining ground, no room for manipulation by d greedy cabal

If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 340/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 355/$ with fees and the exchange rate drops to around 316/$... Western Union has limits and they can report to the IRS.


Contact in signature.

Ezechinwa:


what department? by the way, while your still in school, try learn some industrial skills related with your course. 2.1without a skill is worse than 3rd class.

History and international studies.. what skill can I get btw even the 2.1 they have stepped it down

Truth234:
The Naira continued to gain against the dollar following the Central Bank of Nigeria (CBN) $457 million intervention on Monday.

The local currency on Thursday rose against the U.S dollar to N375 per dollar on the parallel market as the foreign exchange liquidity continued to increase.

Investigations revealed that the parallel market rate which most analysts had projected to remain at N385 to a dollar, improved to N375/$.

CBN’s Acting Director of Corporate Communications, Isaac Okorafor, had at the weekend reiterated the bank’s commitment to ensuring that there was enough supply of forex to genuine customers in pursuit of rates’ convergence.

http://investorsking.com/naira-gains-against-dollar-to-n375/

Seems it's only CBN intervention that can save the Naira but is this sustainable in the long term?

Adebowale89:
the price of goods still remained as it was when dollar was rising against naira


nothing is worth to celebrate here. even if it naira is 200 against dollars, it might still nt affect inflation positively


we Nigerians are the problem of ourselves most esp the trader


I doubt it if consumer right exist in this country

sigh!

You are getting wrong. There is no stability in the currency market yet. The risk is still much high.

Do you want traders to crash thier prices and then dollar rises high tomorrow, how would they make up for it?

Until there is stability in the currency market, there wouldn't be much change in the prices of goods in the market.

This is also true for the wider economy. The economy will never grow when there is instability in the polity and economy because no investor will want to invest where the risk is high.
Therefore, the first thing for any serious govt is to stabilize the polity and economy to give confidence to investors to come in.

Holyfield1:
$1 to #1 or nothing

How is it going to happen? Not under buhari administration

Abudu2000:
Buhari is a big failure ,he can't bring anything good to this country...but this will serve as lesson to Nigerians.

I am supprised that at this smartphone era people will still rather vote anyone above 70yeats of age..just lile choosing an old Mechanic of benz regular era over a mechanic of Toyota era.


Nigerians let's choose wisely in the upcoming elections oo, a younger president or nothing

I agree with you that the govt has not lived up to expectations.

But in choosing a younger leader....we need a younger leader with an actual agenda for development, not a younger leader for the sake of his youth.

We also need a change at the other tiers of government. How are our LGA's and states doing? Most governors too have issues with governance.

And finally, what should the younger leader do to improve the value of the naira. It is blatantly obvious that selling oil, or any other resource does not help matters.Plus....are you prepared to endure more hardship to get to where we should be?

Kjking:
History and international studies.. what skill can I get btw even the 2.1 they have stepped it down

Learning new languages like French, German would be an addition.

Acquiring some releted certificatation would also help

9jakohai:
Basic math.....naira falls and rises with the oil price.

2013: Oil price was at $94 on average.
Naira exchanged at 159 to $1

2014: Oil price was at $85 on average
Naira exchanged at 180 to $1

2015: Oil price was at $41.9 on average
Naira exchanged at 258 to $1

2016: Oil prices were at $ 34 on average.
Naira exchanged at 350 on the parallel market to $1

Why doesn't the naira rise with high oil prices?

Ezechinwa:

Learning new languages like French, German would be an addition.
Acquiring some releted certificatation would also help

OK

9jakohai:
Basic math.....naira falls and rises with the oil price.

2013: Oil price was at $94 on average.
Naira exchanged at 159 to $1

2014: Oil price was at $85 on average
Naira exchanged at 180 to $1

2015: Oil price was at $41.9 on average
Naira exchanged at 258 to $1

2016: Oil prices were at $ 34 on average.
Naira exchanged at 350 on the parallel market to $1

Am ashamed your supporting mediocrity,
Don't we have Cocoa, Coal, Ore, etc and other mineral resources?
Don't you know if the light situation is Nigeria is fixed it would save 45% of expenses

Millz404:
As bubu is not around, things are looking up, we need to bribe his doctors neva to clear him

Meanwhile why is the naira going up and down like strippers booty goes

Dude, calm down!!!!

Olu20090:


Afonja...oil price has averaged $50 for over a yr now, and still Naira to Dollar exchange has been over 400 Naira on average. May thunder strike your conehead there. What is wrong with you afonjas and supporting nonsense?

1.My name is not Afonja.

2.I wonder how you came to the assumption that I was defending the government.

3.We are a resource dependent nation. The reason for my tabulation was to show what was wrong.....and to give an idea on how to solve it.

4.My palaver with the APC government is that they have talked about diversification, while they are still behaving as if the oil money is flowing in and still 'sharing the cash'.

5.When oil prcies are high, govt does not restrict dollars. As a result, investment flows in. When oil prcies are low, govt is forced to restrict dollar outflows, and cut subsidies, and as a result investors leave.

6.My idea for the APC govt is simple. You are not running the economy the right way. We must take steps to become an economy that makes, creates and innovates.You know like China that went from basket case to over-rich nation (And china does not even export oil).

7.God bless and have a good day.

9jakohai:


I agree with you that the govt has not lived up to expectations.

But in choosing a younger leader....we need a younger leader with an actual agenda for development, not a younger leader for the sake of his youth.

We also need a change at the other tiers of government. How are our LGA's and states doing? Most governors too have issues with governance.

And finally, what should the younger leader do to improve the value of the naira. It is blatantly obvious that selling oil, or any other resource does not help matters.Plus....are you prepared to endure more hardship to get to where we should be?

our leaders have successfully made everyone believe that we mmust stuffer before anything good happens, they have everyone believing that the country is broke....but you can't fool everyone everytime, even Yahoo boiz dey change format so if you are still living iin your delusion that Nigeria must suffer before we make any progress den na oyo you dey...

Someone can change this country without inflicting any hardship whatsoever on anyone but first let's wipe out these windows xp leaders, we are in the era of Windows 10...

How can buhari who can't even do a video call or even know about skype help this generation

Clone2020:
If you are in the US or have relatives in the US trying to send money to naija, I will exchange the funds at 340/$, simply deposit into my US bank account and receive instant funding into your Nigerian account. Don't bother with western Union and co, they exchange at 355/$ with fees and the exchange rate drops to around 316/$... Western Union has limits and they can report to the IRS.


Contact in signature.

Just like that?

Kjking:
over

Take it easy bro

Ezechinwa:



Am ashamed your supporting mediocrity,
Don't we have Cocoa, Coal, Ore, etc and other mineral resources?
Don't you know if the light situation is Nigeria is fixed it would save 45% of expenses

1.Yes we do have other mineral resources....subject to the same price falls....which is why we should not focus on selling them in the long term.
Besides....the way we mine and farm is highly inefficent. Plus...we cannot compete in agric because of high subsides, and efficent farming methods by our competitors.

2.Light is needed. But in a society where people do not pay their bills, where the DISCOS refuse to provide prepaid meters, where the previous govt was forced to privatize because of the amounts of money needed to improve things (estimated at N5trillion in 1997!)...and where our bills are even too low for companies to break even...we do have a long way to go.

3.Strong countries do not depend on exports of raw materials. Add the fact that we do not control the prices of the raw materials that we sell....yes the price of cocoa is set in London and New York....and you see why selling resources is a bad idea.

4.Agenda for the APC govt....spend more on vocational education, take a loan to improve power supply, esp transmission, cut more subsidies, end corruption, and long term, develop an economy based on manufacturing and innovation

5.I am not defending the govt as you can see. Problem dey. We need solutions.

6.God bless.

Abudu2000:
our leaders have successfully made everyone believe that we mmust stuffer before anything good happens, they have everyone believing that the country is broke....but you can't fool everyone everytime, even Yahoo boiz dey change format so if you are still living iin your delusion that Nigeria must suffer before we make any progress den na oyo you dey...

Someone can change this country without inflicting any hardship whatsoever on anyone but first let's wipe out these windows xp leaders, we are in the era of Windows 10...

How can buhari who can't even do a video call or even know about skype help this generation

Buhari won because he was one of the most active candidates, very active politically.Not because he was the best.

Our young people are not as active in politics.....as they are on social media.

Wonder how many Nairalanders are members of politcial parties. I guess less than 10%

Millz404:
As bubu is not around, things are looking up, we need to bribe his doctors neva to clear him

Meanwhile why is the naira going up and down like strippers booty goes

DO U DAT UR A VERY CORRUPT BEING

olujastro:

Why doesn't the naira rise with high oil prices?

Kind of because the oil prices are not high enough.(For us we need it at $100 and above.).

And also because, when oil prices rise....we have to use the money to settle debts incurred when prices were low....which means...it is going to take a while before we see benefits.

Wise nations don't rely on selling resources alone.

tolexy123:
Am not understanding Food stuff price never come down na... Nigerians sha

In the first instance it was not dollar rate that resulted in increase in prices of food stuff e.g. fire wood, pure water, etc it was greediness. Check out prices of electronics you will discovered the crashes in prices. For example a phone bought N75,000 from Jumia in first week of April is now N52,000 yesterday on the Jumia. N23,000 crash less than 7 weeks.

Saintp:


You are getting wrong. There is no stability in the currency market yet. The risk is still much high.

Do you want traders to crash thier prices and then dollar rises high tomorrow, how would they make up for it?

Until there is stability in the currency market, there wouldn't be much change in the prices of goods in the market.

This is also true for the wider economy. The economy will never grow when there is instability in the polity and economy because no investor will want to invest where the risk is high.
Therefore, the first thing for any serious govt is to stabilize the polity and economy to give confidence to investors to come in.

I'm not doubting that but I said there is nothing worthy of celebration in a situation when the reduction is not affecting people standard of living

TGM2015:

In the first instance it was not dollar rate that resulted in increase in prices of food stuff e.g. fire wood, pure water, etc it was greediness. Check out prices of electronics you will discovered the crashes in prices. For example a phone bought N75,000 from Jumia in first week of April is now N52,000 yesterday on the Jumia. N23,000 crash less than 7 weeks.

Greedy Nigerians sha

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Success on your projects, Nairalanders!

it is N381 to $1 when you want to buy.

Naira... It is your time to RISE... Keep rising... Lift up your bead o ye Naira and be lifted up everlasting Nigerian Currency and let cheap stuffs enter