Over the years,the exchange rate between the US dollar and the Nigerian naira has experienced a lot of disparities and oppression.

Here is a preview of the exchange rate from 1972 till date.



https://www.viewsnaija.com/2019/05/checkout-exchange-rate-of-us-dollar-to.html?m=1

I'm sure you all know who to thank for this...

I have always said it that every successive govt this country has ever had,have always taken us into deeper mess. The military took the naira from N0.658 to the dollar and dumped it at about N88/dollar by 1999. The Pdp took it from that point and dump it at about N300/dollar by 2015. Apc took it from that point to even up to N530/dollar at some point. The same sets of individuals keep recycling themselves in different forms in govt and that is why we keep getting the same results.

white people really tried for us minus the forceful amalgamation.... when the white was ruling us, exchange rate was at 0.6 to 0.7 but immediately the left, our exchange rate started going up because of corruption and mismanagement of fund

oz4real83:
I have always said it that every successive govt this country has ever had,have always taken us into deeper mess. The military took the naira from N0.658 to the dollar and dumped it at about N88 to the naira by 1999. The Pdp took it from that point and dump it at about N300/dollar by 2015. Apc took it from that point to even up to N530/dollar at some point. The same sets of individuals keep recycling themselves in different forms in govt and that is why we keep getting the same results.

If you check, from the times when the naira was 0. against the dollar, we had a vibrant economy and exports.

Since we started depending on oil, down went our economy, the dollar started controlling the market.

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kennygee:


If you check, from the times when the naira was 0. against the dollar, we had a vibrant economy and exports.

Since we started depending on oil, down went our economy, the dollar started controlling the market.

it is a matter of leadership. All the small emirates in the UAE once depended on oil just like Nigeria. Their economies were built,developed and diversified into tourism using oil revenues. All these were done because of good leadership. Those emirates don't depend on oil anymore even though oil revenues keep coming. Opposite is the case of Nigeria. Bad leadership will always yield bad results.

Where are we going?

The issue now is not to continue gloating over the failures of today vis-a-vis the glorious past. Nigeria has been rubbished by successive governments. The issue now is how to grow back the naira to dollar parity and higher. It is certainly not with the present crop of leaders and our mono-economy. We need radical changes. But it is so pathetic that the same people spreading all these awareness are the people that will quickly pick political deadweights and spent-forces over and ahead of vibrant young technocrats that could help grow back our economy. Who is fooling who?

What will you expect when the rate of importation is far higher than that of exportation? Click on the first link on my signature to master how to export good to foreign countries successfully without being defrauded.

This is the hard truth about our Economy

Reminds me of that famous cartoon.

Sometime between 1986 and 1989, when we suffered SAP induced devaluation, a cartoonist drew a picture of the naira and the dollar in a boxing ring and the dollar was pummelling the naira.

My own question, how come the dollar never depreciates?

IBB through his IMF-induced Structural Adjustment Programme initiated the death of the Nigerian naira.
Abacha added his own to it and afterwards, successive PDP governments gave the naira 1000% loss of value from about N20/$ they met it to N200/$.
Sharp decline in oil prices from 2014 led us to another 80% decline in value to the current N360/$.

IBB, Abacha and PDP are the worst things to ever happen to Nigeria.

It's only in yaradua's regime that dollar didn't rise against the naira..

Nigeria's best president

You can thank IBB and his Structural Adjustment Programme for this.

Ok

Too bad we never had a caring leader or leaders for so long

Pay your Chinese supplier in RMB: 1 RMB = ₦53.5 (click on my username to contact us).

Nigeria getting worse everyday

Babangida, and Obasanjo two of western agent and economic terrorist that have signed a pact to hold Nigerian economy down through many of their policies that made us import only country.

Babangida's first assualt on our economy started the day Goverment through Ministry of Trade and Commerce stoped buying agriculturer produce and cash crops from farmers for export and sales by goverment to goverment as done.during Awolowo's time.... depending solely on forex from crude.oil, farmers packed their loads to come and enjoy.oil boom in the city and everyone turned lagos to the new mecca.

Abacha on the other hand, due to many international sanctions, he made nigeria.look in wards for domestic production, we started eating our local stony rice and corn, since no.country wants to trade... we started innovating sawdust stoves and other ways .. we preferred our own natives as foreign cloths were expensive, NNPC refinery had to work optimally as all foriegn oil merchant were doing us anyhow, NRC and their trains reduced the burden of diesel and trailers on our road... Nepa reduced the need for generator as electricity was relatively available. We used our own Nitel, and Nigerian Airways reducing our need for dollars, Dunlop and Michelin made tires locally, and Peugoet Kaduna made cars that we could buy in naira, we used money from toll gates to repair and build new roads without having to borrow from imf, world bank and the other financial sharks.

What did obasanjo do with power after the west helped.him assasinate both Abacha and MKO?

× Kill Railway so that his northern alhaji Friends like dangote can cashout with trailers and truck, while killing Nigeria everyday.

×Kill Nitel and sold it and telecommuinication lisences to foreign company, so.that they can siphon our forex to their country as profit.

×He intentionaly stopped annual turn arround maintanance of all of our four refineries and refuse to.issue lisence to build refineries to local investors, so that subsidy can be paid to his croonies, and we can import from their western owned refinery and pay dollars




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pls is buhari seeing this ??
IG @chris_calimsky

And one akamu somewhere will say Nigeria is going to get better. It can only get worse. Stop giving yourself false hopes, grab your future by yourself. Nigeria is not going to be great with the people living in it.

It's so obvious we Nigerians don't understand fiat money,inflation and value......Read the news and u will get the gist......for example a former governor fumed he left so many billions as he was leaving

Our Executives and our Economic Experts do not understand the laws of money. Free Oil money has blinded them so much that they think that inflation can be curtailed without Science and Industry leading the creation of a viable domestic market.

And we still keep doing the same thing day in day out hoping that through adjusting monetary and fiscal policies a magical change can occur.

I pity my beloved Country!

In the next 5 years
It will be 1$ - #1000

so in other words there's no hope for our currency..

Finally on first page

IBB tenure saw the mighty collapse of the naira