Ehiscotch:
This should normally be bad news as a lower dollar to naira exchange rate encourages massive importation thus encouraging consumerism.

But since we want all the borders opened and 1 dollar to one naira; let's embrace importation of everything from pencil to toothpick because no manufacturing sector can compete locally and internationally.

I wish the dollar stays high but local production be ramped up to meet national demand and some products with which we have high comparative advantage (ability to massively supply) should be banned.

Where did you study your own version of Economics? You want naira to dollar exchange to remain high without factoring the importation of raw materials for the local industries? You want the local manufacturers to remain uncompetitive against their foreign counterparts? Think wise

civilserva:


Where did you study your own version of Economics? You want naira to dollar exchange to remain high without factoring the importation of raw materials for the local industries? You want the local manufacturers to remain uncompetitive against their foreign counterparts? Think wise

Oga factories and industrialists are still accessing dollars at 392 to import their raw materials via form M.
NAFEX is meant for people in this category.
Do your research first before you come here to flaunt your ignorance.

Iogobenz:
Taxes,revenues,levies,national commodities,government parastatals,etc...

GDP =
Consumption Expenditures by Households
+ Investment Expenditures by Businesses
+ Government Purchases of Goods and Services
+ Domestic Expenditures by Foreigners
= Wages
+ Interest
+ Profits
+ Indirect Business Taxes
+ Net Foreign Factor Income

blacknp:
How much foreign exchange have you made since 2015 to help the Naira? Pauper.

Zombie

This is not bounce back

nairavsdollars:
Just because Davido cried that he changed 1 dollar at N500, they quickly did abracadabra to being it to N470. Its going back to N600

it’s actually joke of the year...true it bounced back against dollar but pounds still stands at N630 to one £1.. let dem be fooling themselves.

Doraty1:


https://www.vanguardngr.com/2020/12/breaking-naira-bounces-back-appreciates-to-n470-in-parallel-market/amp/?utm_source=&utm_medium=twitter&__twitter_impression=true

bounce back my ass

Hahahaha.. Bounce back at #470?

God go punish that person wey write this silly headline.

Biglittlelois:



You lack home training because you were picked from the dustbin

You quoted me first by saying I didn't read what was on the thread, I replied by asking if you are dull since it doesnt change anything, so how is that an insult? Who came on my my mention with a subtle jab first?

Do not ever quote this moniker again.

5

Iogobenz:
I'm sorry sir but you are super wrong.
GDP has nothing to do with all these you listed,national budget does instead.

A country that doesn't know it's actual population, how will it's budget takes care if it?
Point of correction, Nigeria budget takes care of very few individuals.

Ejiod:
Something I sold for 500 yesterday. Be jonsing yourself there

Location bros ?

mankan2k7:


Zombie

Zero foreign exchange? Useless Almijiri.

Iogobenz:
Oga factories and industrialists are still accessing dollars at 392 to import their raw materials via form M.
NAFEX is meant for people in this category.
Do your research first before you come here to flaunt your ignorance.

So 392 naira is low compare to what this regime inherited....

nairavsdollars:
Just because Davido cried that he changed 1 dollar at N500, they quickly did abracadabra to being it to N470. Its going back to N600

like BTC abi

Doraty1:


https://www.vanguardngr.com/2020/12/breaking-naira-bounces-back-appreciates-to-n470-in-parallel-market/amp/?utm_source=&utm_medium=twitter&__twitter_impression=true

Trashy.news...bouncing back my ass.. Always celebrating mediocrity... Una suffer never start!

A dollar shld Be N200 at most. We keep celebrating mediocrity that's why these so call leaders take us for granted.

A country which depend wholly on what other countries produce is destined for doom unless they change the status quoted.

A coinsless economy is a dead economy.

Nigeria is just a funny country. How can you just be satisfied with consuming what other countries produce thereby adding to the growth of the country while you are just satisfied with the tag of "Consumer/Maintenance Economy" and expecting that your economy will grow.
This is only recession brethren, depression is on the way if we don't act fast.

Naira go still reach 5000 abi no be naija we they again ni

Lights up my kpoli in peace

99% of the comments here if not 100% have no intellectual content, just misguided complaints. If people have nothing significant to contribute, they should read. What a country!!!

Jostoman:
No be only bounce back na somersault.

Back flip rather

What's good about this news

Systrom:
Location bros ?

Sold online

Who is the fool saying #470 to a dollar a bounce back?

blacknp:
Zero foreign exchange? Useless Almijiri.

It is in their blood, they can defend incompetence to the highest level. A zombie with no hope

Your response is for the wise, However, Government has given enough room to our manufacturers to do the needful and improve on activities to make life meaningful to us but the problem remains that the manufacturers are not ready to rebuild the economy. They are only interested in making money and put the masses in mess.

Government stopped importation of maize, farmers increased price and poultry farmers are sovereign. The effect will be experienced by all of us this December. One broiler chicken might cost up to 10,000 during or before the festive season commences.

Government banned importation of rice, local rice prices skyrocketed.

Government imposes high tarrif on importation of used cars, local manufacturer could not seize the opportunity to produce at affordable price for the masses, rather they focused on producing cars that can only be purchased by senators.

I think all of these views are reasons behind Government recent u -turn on some of the policies.

Note:

Don't think rice will be costly this festive season, government will not reason along with local farmers on this. Foreign rice will find it way in and they will be forced to sell below previous prices.

Government have seen that high tarrif on used cars has only enriched the manufacturer and has not impacted positively on the masses. Thus, policies that will Favour importation will be in place.

My advise,

Local manufacturers should always think more about the masses than acquiring more than necessary wealth due to government policies, they should know that policies could be changed any time but masses remain the final destination of their products and services.

Ehiscotch:
This should normally be bad news as a lower dollar to naira exchange rate encourages massive importation thus encouraging consumerism.

But since we want all the borders opened and 1 dollar to one naira; let's embrace importation of everything from pencil to toothpick because no manufacturing sector can compete locally and internationally.

I wish the dollar stays high but local production be ramped up to meet national demand and some products with which we have high comparative advantage (ability to massively supply) should be banned.

Pele ! Otunba bouncer. Thought it bounced to #250/$

Ehiscotch:
This should normally be bad news as a lower dollar to naira exchange rate encourages massive importation thus encouraging consumerism.

But since we want all the borders opened and 1 dollar to one naira; let's embrace importation of everything from pencil to toothpick because no manufacturing sector can compete locally and internationally.

I wish the dollar stays high but local production be ramped up to meet national demand and some products with which we have high comparative advantage (ability to massively supply) should be banned.

You forget that manufacturers still import input material and machinery.

Check your exchange rate is still, the same thing...

Who are benefiting from the devaluation of the naira? Northerners. Reason cus they are individuals who export goods such as food stuffs and illegal minerals such as gold nd other precious stones, secondly they control the Black market in Nigeria.

Is this a result of recent CBN announcement of allowing cash withdrawal of foreign remittance from domiciliary account?

We all need to be careful how we blab


It was this government that promised to make One Dollar equal One Naira

Don't forget that
APC people shouldn't pretend to forget that

OkBye

nairavsdollars:
Just because Davido cried that he changed 1 dollar at N500, they quickly did abracadabra to being it to N470. Its going back to N600

600 lol , na to carry $2000 to naija for vacation