I don't still understand why good news still make some people mad in this country.

Nawa

chaii nice one

Mr. President is working but if dollar is more than where he met it.....no no

Good

To think this is bad news to some particular countrymen is crazy.

Begs the question, do you want Naija to succeed or fail??

Good luck to Nigerians and Ibeokehie

advanceDNA:


Demand for naira is what will boot naira in a floating currency system....

...hope u understand that Dangote is not exporting crude oil products to other nations in naira...he's being paid in dollars for his exports ....

His business operation will not significantly boost naira as Reno claimed without the government heavily paying subsidy on the exchange rate as they are doing now......

Thats why they are saying Reno is a paid propaganda spreader.....

Tell them. Reno is spewing ignorance and the gullibles will celebrate him without knowledge.

This is good news...!

However, if you people are secretly subsidizing the currency with loans, thunder go faya una.


If the Naira is strengthening due to other steps like exports, local production and consumption, etc... Then, may God be praised.


Meanwhile, prices of some goods are still going up... Fuel is still being sold at #700 per Liter.

Shame on wailing wailers. They always expect bad news, they will not be happy with this news.

advanceDNA:


Demand for naira is what will boot naira in a floating currency system....

...hope u understand that Dangote is not exporting crude oil products to other nations in naira...he's being paid in dollars for his exports ....

His business operation will not significantly boost naira as Reno claimed without the government heavily paying subsidy on the exchange rate as they are doing now......

Thats why they are saying Reno is a paid propaganda spreader.....

Please read the nonsense you wrote again, this time slowly. If you still don't understand ask your neighbor or friend to explain it to you. Peace

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.

What economic metrics determine the exchange rate of a currency?

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.

Y do nairaland enjoy keep hate speech content... Is it that you enjoy this division

Keep fooling yourself

advanceDNA:


Demand for naira is what will boot naira in a floating currency system....

...hope u understand that Dangote is not exporting crude oil products to other nations in naira...he's being paid in dollars for his exports ....

His business operation will not significantly boost naira as Reno claimed without the government heavily paying subsidy on the exchange rate as they are doing now......

Thats why they are saying Reno is a paid propaganda spreader.....

This is basic economics. It is not the demand for the naira that boosts the value of the naira in isolation, rather it is that the supply of dollars should match or outweigh the legitimate demand for dollars. When Dangote earns in dollars and this is repatriated into Nigeria, the supply of dollars will increase to match or outweigh demand for dollars.

I really don't know what gives you the impression that you understand what you're talking about. Avoid commenting on things you don't fully grasp!

Jagabanbattle:
It’s another blow on hoarders today has Naira continue to strengthen against Us Dollar. Today, USDT/Dollar sells for #1,150

I bought mine today at #1,248 but only for me to reach home and was informed that dollar is now #1,200 and right now it keeps on falling

Mynd44:

Yeah, I know this sounds like a complex economic theory but it is like this.

Before Dangote, Nigeria had to import fuel (diesel, aviation fuel, petrol etc) and this put a lot of pressure on the Naira as we now needed dollars to buy these products.

Dangote does not even need to export before a change is noticed as since Nigerians will buy from Dangote in Naira, they don't need dollars to import fuel. That reduces to demand for dollar and eased pressure on the naira.

Obi used to say "Nigeria must move from consuming to producing economy" when we import fuel, we were consuming. With local refineries, we are not a producing one and this improves the currency by a lot.

It will not be hugely significant....that's what I said earlier.....crude oil products is not our only imports.....we are still heavily importing every other thing even toothpick, used clothes, food, ..... and not exporting anything to drive the demand of naira

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.

You should be too ashamed of yourself for typing this rubbish that you will never think of typing if Tinubu was not the president.

Dollar was 700 to Naira when that idoit came to office and how he managed to use his bad luck and FOOLISHNESS to get dollar to Naira at the current price should have been making most of consider him as a big idoit.

Happy birthday to Mr Rufai Oseni of Arise News, the best journalist in Nigeria who predicted the naira crashing to 2,000 per dollar.

We wish him robust health, energy, blessings and wisdom as he climbs the ladder of age.

We also pray that the evil and sick things he wishes upon Nigeria never come to pass. For example, when he says "Nigeria is a joke", and wishing more economic hardship by insisting the dollar will crash further.

May they not come to pass.

#1000 is the last support .. @ this point CBN and speculators will have a huge battle for price next direction.. anyone who wins we will follow

Glory be to God

SmartyPants:


This is basic economics. It is not the demand for the naira that boosts the value of the naira in isolation, rather it is that the supply of dollars should match or outweigh the legitimate demand for dollars. When Dangote earns in dollars and this is repatriated into Nigeria, the supply of dollars will increase to match or outweigh demand for dollars.

I really don't know what gives you the impression that you understand what you're talking about. Avoid commenting on things you don't fully grasp!

U cannot dialogue without insult....I no need argue with you....is only by not importing crude oil that will significantly help the naira....we are virtually importing every other thing....

PheelzAlmighty:
Agenda must agenda.

The average Nigerian is still suffering, unable to afford basic amenities.

Thunder fire APC and it's supporters.

Speak for yourself. Are you suffering?

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.

You are very daf*

Mynd44:

Yeah, I know this sounds like a complex economic theory but it is like this.

Before Dangote, Nigeria had to import fuel (diesel, aviation fuel, petrol etc) and this put a lot of pressure on the Naira as we now needed dollars to buy these products.

Dangote does not even need to export before a change is noticed as since Nigerians will buy from Dangote in Naira, they don't need dollars to import fuel. That reduces to demand for dollar and eased pressure on the naira.

Obi used to say "Nigeria must move from consuming to producing economy" when we import fuel, we were consuming. With local refineries, we are not a producing one and this improves the currency by a lot.

Well said.
Let's sha be optimistic the naira will continue appreciating. Baba met it at ₦750, buhari at ₦200.
We pray it goes back to 200 these bunch of apc politicians met it and even better.

socialmediaman:
A wise man once said:

"You knew what was at stake, you said you could do it, and even went further to steal the mandate. So get the damn job done".

If Naira crashes to N490 = $1 where Tinubu met it, then crashes further from there, I'll commend the Tinubu government.

Anything more is Sycophancy

Olodo, Naira was being defended at that rate close to $20 billion yearly
So you want the trend to continue?

Naira keeps on "appreciating". But why are the prices of goods and services still increasing? The country always defile the basics of economics.

Richtaiwo:
Reno has advised hoarders of dollars to sell them out before Dangote refinery products hit the market, but ipob miscreants said Tinubu paid Reno Omokiri to help spread propaganda. This is because any good news about Nigeria always give them diarrhoea, and therefore prefer it isn't true. Let's see how it goes.

Bros, it will go down more now that court has remand the binance executive in prison. Hoarders will know It's not a joke.

emkz:
Let us remember someone insisted the naira would plunge to 2,000 to a dollar.

Some of his disciples here said his cry was the reason the naira did not crash further.

For those naysayers, the naira appreciated because CBN clamped on speculators, enhanced regulation, kicked out unlicensed operators and sold dollars at their own rate and warned those who resold the dollars to do so at a specified margin or face sanctions.

Guess what? Many people like Landmann are unhappy because they probably lost a lot of money betting against the naira.

That Rufai is a quack journalist.

advanceDNA:


U cannot dialogue without insult....I no need argue with you....is only by not importing crude oil that will significantly help the naira....we are virtually importing every other thing....

1. I did not insult you anywhere sir. You cannot know everything and from what you wrote there I know you don't understand this particular area, but you might be an expert in something else. Advising you not to comment on what you don't know is not meant to insult you, rather it is meant to protect those who have even less knowledge from being misled by half-knowledge.

2. We are not saying Dangot's refinery will solve the entire problem but by the quantity of oil import that is eliminated, and the quantiy of fx inflow that is created, with all other factors being equal, it will be a major gamechanger. Nigeria is winning already.

Tflex01:


Typical Obidient 😂

Your name truly fits you.

person no fit mtcheeeeeeeeeeeeeeeeew in peace again?