Una go suffer

Please,when is the next general election that this administration will be over !

SanusiGworo:
A wise man once said:
"When Dullards govern, the poor suffers"

ntor since you choose darkness to rule over light

Good news

nuele:


Are you saying "increased minimum wage" is causing us inflation? Funny.

Go tell your government to work on the refineries and stop wasting dollar vault on importing PMS, crude oil - our main export commodity price is falling yet they are importing PMS (40% of the import) why won't you have dollar deficit thus low currency value.

Bro, they should deal with the economic problem not casting the blame on the poor, do you care to include how much the legislative and executive earn and their bonuses, cars, travels etc. Yet you wrote "minimum wage", you didn't even write about the " high cost of living", bro leave the poor out of this. Our unfortunate leaders put us in this mess.

If government stops importing fuel they would end up having to remove fuel subsidies because automatically private people would be importing fuel.

And no, we cannot build the three new Dangote level refineries in five years to stop importing because Nigeria does not have the money.

Removing subsides means fuel prices go up to n300 and above ( which is what Benin, Niger and Cameroon pay) .

It also means, long term, more investment in the petroleum industry which means more refineries built with private money,and eventually fall in petrol prices

Hmmm

isthatso:


you and the people who liked your post dont understand how this thing works. The biggest factor that determines exchange rate for Nigeria is crude Oil revenues and right now Oil is falling. End of story!

Truth.

If oil was rising, people would be calling Buhari a genius.

The problem is, he isn't. And neither is any past Nigerian leader.

Our economy is hooked to oil. And until we take measures to get off oil, this problem will happen.

We were here before in the 1980s. Oil crashed under Shagari. Our economy remained in the doldrums till 2005/6 when oil shot up again

awoo47:
lets hope Trump lose election, so they can ban fracking, the oil go get back to $150
d cause of oil slump was US increase in oil production due to fracking by nxt yr US will become net exporter of oil. So expect naira to fall except Sanders win

Trump is unstoppable

It’s really sad. Since I was born, I have never seen the currency lose value so quickly.

SanusiGworo:
A wise man once said:
"When Dullards govern, the poor suffers"

PDP won't have done differently.

And no, APC has failed too. But your side won't do better.

The issue is Nigeria is dependent on oil. And until we stop being dependent on oil, the economy will keep on falling.

PDP and its mirror APC have no idea on how to get us off oil. All they want is to share money

So,if PDP won what would they have done?

awoo47:
lets hope Trump lose election, so they can ban fracking, the oil go get back to $150
d cause of oil slump was US increase in oil production due to fracking by nxt yr US will become net exporter of oil. So expect naira to fall except Sanders win

No, oil slumped because the Saudis started over producing oil in 2014 to beat the US oil industry.

US self sufficiency ( not due to fracking) on oil meant that the US was no longer buying Saudi oil. The Saudis did not like that

Gnaeusmagnus:


If government stops importing fuel they would end up having to remove fuel subsidies because automatically private people would be importing fuel.

And no, we cannot build the three new Dangote level refineries in five years to stop importing because Nigeria does not have the money.

Removing subsides means fuel prices go up to n300 and above ( which is what Benin, Niger and Cameroon pay) .

It also means, long term, more investment in the petroleum industry which means more refineries built with private money,and eventually fall in petrol prices

Great points. I appreciate the last one, that is a good way to go.. Even if it's to encourage private modular or mini refineries...

But I think, covering a festering problem will do us no good. Government subsidy or fuel importation ought to be a temporary measure not a long term thing. It's causing us harm indirectly as we are still paying for it through increase cost of goods.

I think the Refineries we have on ground can be resuscitated and effectively utilized so that we drastically reduce PMS importation, its senseless.

[quote author=SanusiGworo post=86999823]Bunch of economy novices running a multi million dollar economy.



okay brother, you people decided to frustrate Good lock Jonathan government according to your analysis because he gave you people juice appointment like petroleum minister and the record shows that it was that time Nigeria experienced highest booming in oil,and your people squandered our resources and plugged our dear economy country into recession they failed to plan for the dry season. please tell Dieazanie to visit her father's country I think she from your region you are praising now

It is inevitable.

I presume a N500/$ rate would be attainable but if policies happen to make a jittery public, 600-700 levels might be spiked

https://www.nairaland.com/5608088/forex-trade-alerts-season-20/157#86937832

https://twitter.com/BudgITng/status/1230533359555743744
[img]https://twitter.com/BudgITng/status/1230533359555743744/photo/1[/img]

https://thenationonlineng.net/cbn-sets-dollar-deposit-withdrawal-rules-for-customers/
CBN sets dollar deposit, withdrawal rules for customers

The Central Bank of Nigeria (CBN) on Sunday said customers can deposit dollars into their domiciliary accounts but are not allowed to transfer such funds to another party.

https://thenationonlineng.net/imf-urges-cbn-to-end-forex-intervention/
IMF urges CBN to end forex intervention

It advised the Central Bank of Nigeria (CBN) to stop defending the naira through dollar interventions and adopt a unified exchange rate regime.

https://punchng.com/eca-nigerian-economy-vulnerable-to-shocks-says-world-bank/
ECA: Nigerian economy vulnerable to shocks, says World Bank

The Nigerian economy has become more vulnerable to shocks as a result of the depletion of the Excess Crude Account, according to the World Bank.

One thing is obvious: The CBN does not have enough dollars to keep defending the naira and with the IMF asking CBN to stop forex intervention, it means some people are already in play to short the naira big time just like in the movie BILLIONS. The statistics are right, the propaganda ongoing.

Can you guess what this means for dollar earners?

SoNature:


The #360/$ exchange rate is not sustainable

Facts

Except Buhari adopt radical reform

Nna mehnnnnm!

Where is my laptop and modem let me do something, no time.

Nna mehnnnnm?

SanusiGworo:
Bunch of economy novices running a multi million dollar economy.

Check the facts below.
www.nairaland.com/attachments/11111944_screenshot20200226105918twitter_jpeg6c96ef82c164ae3aa22d75356c7b4bd4

Now with Hausa/fulanis steering the affairs of the governance, all they think of is forgiving their brothers the so called repented bokoboys.

Boosting international confidence in the Nigerian economy will help in no small measure ri stabilise the naira

Naija don fold up
Cry for mercy and freedom
No good news anymore
We have heard today's own let wait for
What tomorrow carries


https://www.youtube.com/watch?v=7QrerUig5sw

Looking forward


If you can't read, you can't make money..
Get free e-books on different ways to make money and how to save
Click below to Get yours now!!
https://vars.us/xHb1A

SanusiGworo:
It will soon be $1 to #400



https://thenationonlineng.net/analysts-predict-naira-devaluation-to-n400/amp/?__twitter_impression=true

Enemies....

Enemies of the State and their laughable predictions...

It will never happen...

.

Some Nigerians will be sad
If you have 1.5 million Naira you move yearly from Nigeria to US
Presently you can have N1.5 million/N360 will give $4,166
If change will be N1.5 million/N450 will give $3,333
Mad as hell

GamalNasser:
Nigeria just lost not 8 years but 30 years worth of progress to the ineptitude of the very failed and hyper incompetent Buhari who has absolutely nothing offer than his state sponsored 3 prong Jihad war and the empowerment poverty .... Yesterday Dangote released it profit and loss reports which shows Dangotes profits down by 50 percent and exports down by 41 percent due to self harming Buhari border closure

Should we be surprised Nigerian Economy retrogressed during Buhari first stint in the 1980..We knew this man had nothing to offer..he wasn't even qualified to be a gateman..but here we are with a calimitous monumental disaster as president..The worst ever in the history of Nigeria...and to think some idiots in the south were supporting him is beyond neausating..

SanusiGworo:
Bunch of economy novices running a multi million dollar economy.

Check the facts below.
www.nairaland.com/attachments/11111944_screenshot20200226105918twitter_jpeg6c96ef82c164ae3aa22d75356c7b4bd4

chai

these flat chest beaters sha.

Thank God

Why investing your dollars in Nigeria
unstable

Ma go change my naira to Dollar ooo

But the CBN governor ruining Nigeria economy under Buhari is not Igbo ba ?

SanusiGworo:
Bunch of economy novices running a multi million dollar economy.

Check the facts below.
www.nairaland.com/attachments/11111944_screenshot20200226105918twitter_jpeg6c96ef82c164ae3aa22d75356c7b4bd4

Mymynd4u:
I also predict that the said analysts Brain and sense will be devalued from 55% to 15.5


Let's see which one will come to pass??

Go and do ur make up
That's the only thing u understand. This is beyond expressions wig 300naira u buy

SoNature:
I don hammer oh!

They should make it #500

When we pleaded with the Buhari fanatics not to vote for the dullard, they said their minds were made up.


Buhari is a blessing in disguise.

Freelancing is fun!

You think further devaluation of naira will help u? When you start paying N200 for something that was initially N120 then you will understand that this life is cyclical.

GamalNasser:
Nigeria just lost not 8 years but 30 years worth of progress to the ineptitude of the very failed and hyper incompetent Buhari who has absolutely nothing offer than his state sponsored 3 prong Jihad war and the empowerment poverty .... Yesterday Dangote released it profit and loss reports which shows Dangotes profits down by 50 percent and exports down by 41 percent due to self harming Buhari border closure

Must you attribute success to our past failing leaders in order to highlight the flaws of the current one failing us? We never made any 30 years of progress but stagnated/slowly regressed for over half a century.