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Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate - Business (4) - Nairaland

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Yuletide: Prices Of Goods To Rise As CBN Adjusts Exchange Rate To N951/$1 / Naira Tumbles To 980/Dollar, FX Shortage Worsens / Naira Tumbles By 51.95% Despite Cbn’s Defence Measures (2) (3) (4)

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Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by yetunsbay(m): 9:22pm On Dec 31, 2021
visijo:
I come in peace. Will pharmacies be open tomorrow?
Yes

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by aimmoney9: 9:23pm On Dec 31, 2021
Sunofgod:


https://www.thecable.ng/naira-tumbles-to-n435-1-at-official-market-as-cbn-adjusts-forex-rate
I have always said and maintained that Godwin emefiele is the bane of Nigerian economy..... grin

Well that's what you get when you make a banker instead of an economist the CBN head..... grin

Aboki fx right now shouting I told you all...... grin grin
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Shokoloko(f): 9:27pm On Dec 31, 2021
COMPAQ:


I disagree cos what the world manufactures most these days have some form of chips or electronics in it that requires a better brain these days. The days of manufacturing industrial goods are almost over. These days the biggest manufacturing is phones, chips, and so on. Everything has circuitry these days to connect to the internet such as ac, fridge, microwave, freezer, tv, smart speakers, gaming consoles, phones, even bulbs etc. not the dumb products of yesteryear. Not stuff you want to entrust to an idiot to manufacture cos the stakes are high. Besides like I said the choice of manufacturing is beyond labor. Lack of electricity is enough to disqualify Nigeria when compared to Ghana or Ivory Coast.

They are not bringing the biggest manufacturing to Africa. Why would they? So that Africa can be greater than China? They are not bringing high-tech stuff because they know we can exhibit intelligence sometimes, so they will manufacture plasticky, wood and ceramic stuff so that the average African will just have a low-paying job. But it will be a job non-the-less.
The chinese will always be the supervisors of each team in a plant, but at least graduates will have a hope of getting a (not very good) job after school rather than staying home for 7 years

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Investorozay: 9:29pm On Dec 31, 2021
rentAcock:
Even if Naira drops to N4000/$, I will continue to believe in this country because I can see what's coming. The wise are heavily investing in Nigeria while the weak are looking for how to go abroad. The whole world is tired of China, they are looking for cheap labor, Nigeria is the next China. We have the population, the youth and the literacy level to be the next manufacturing power. Plus, several countries that benefited from slavery (U.S, UK, Spain and Portugal) have proposed ways to pay back Africans for all the abuse, exploitations throughout our history. There is a conscious effort to make Africa the next industrial hub. Those lacking foresight won't see this, they only see the now and not the later. Ignore the noise and look for a small factory you can start; In the next 5yrs all the big multinational companies like Amazon, Walmart and co will be pouring billions into our infrastructure just to enable us to manufacture goods for them. So many people will miss this boat, but you are hearing this now, act on it.

Lol
Motivational speaker
Drowning preacher

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by dhope: 9:31pm On Dec 31, 2021
The case of buhari is that of a man that wants things to get better but lacks every capacity to make it happen. Basically there's no mental capacity to turn things around coupled with lack of requisite education and knowledge. It's not his fault that naira is falling freely and economy is turning upsidedown, it's the fault of those who voted for him. You don't bring a man to power by compassion, he is on a suicide mission because he doesn't know what to do to help the economy and arrange sound economic team. I hope people have learnt because they decide their future again in 2023
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by RepoMan007: 9:31pm On Dec 31, 2021
COMPAQ:


I like your enthusiasm, unfortunately it is very much misplaced. Companies want an environment with good infrastructure to manufacture (electricity, ports, transportation network, rule of law, judicial fairness, airports, exchange rate stability etc) and Nigeria has none of these! Also our youth are literate but companies need more than that. They need well educated and we don’t have that unfortunately. A primary 6 person from US, is mentally sharper and more aware than a ss3 student from here, cos our education doesn’t encourage thinking - just cramming and passing exams. No application. There are many countries in Africa that will attract the so called billions from Amazon and co such as Ghana, SA, Rwanda, Morocco, Egypt, Kenya before Nigeria.
Correct.

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by RepoMan007: 9:34pm On Dec 31, 2021
Shokoloko:


Manufacturing doesn't need thought or intelligence at the lowest point (which is what they are bringing to Africa). Design thinking will surely remain in China.
From his theory, the average Nigerian will have an underpaying labour intensive job, but for starters it will be a job.
We have a 33.3% unemployment rate and hopefully with many youths employed (sub optimally) they will be able to afford just the basic necessities of life.
According to Marslow's theory, it is only after a person has food and shelter that they can apply their brains. The Chinese will help fulfil the first stage in Africa. Whether we will rise beyond that stage is what I know not
You mean manufacturing needs stupidity more than intelligence? Why aren't we manufacturing capital already then?
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by kraftysprouts: 9:34pm On Dec 31, 2021
rentAcock:
Even if Naira drops to N4000/$, I will continue to believe in this country because I can see what's coming. The wise are heavily investing in Nigeria while the weak are looking for how to go abroad. The whole world is tired of China, they are looking for cheap labor, Nigeria is the next China. We have the population, the youth and the literacy level to be the next manufacturing power. Plus, several countries that benefited from slavery (U.S, UK, Spain and Portugal) have proposed ways to pay back Africans for all the abuse, exploitations throughout our history. There is a conscious effort to make Africa the next industrial hub. Those lacking foresight won't see this, they only see the now and not the later. Ignore the noise and look for a small factory you can start; In the next 5yrs all the big multinational companies like Amazon, Walmart and co will be pouring billions into our infrastructure just to enable us to manufacture goods for them. So many people will miss this boat, but you are hearing this now, act on it.

You be real cock, big fowl

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Ibfpleasant(m): 9:36pm On Dec 31, 2021
shopwiser:
Wetin concern me...make I just dey trade my forex dey go
my colleague ❤️❤️
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by HabaHaba: 9:40pm On Dec 31, 2021
tititaiwo44:
One word- in the new year, set your gaze towards earning in foreign currency. Our naira is on a long steep.
And also trade in BITCOIN/Crypto.

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Shokoloko(f): 9:41pm On Dec 31, 2021
RepoMan007:
You mean manufacturing needs stupidity more than intelligence? Why aren't we manufacturing capital already then?

Manufacturing at the lowest level (not design thinking stage) doesn't need intelligence. Just follow instructions.
I really dont know but I notice that for some reasons business as a foreigner in Nigeria seems to be easier.
Somehow everyone including rhe government feels than a foreign firm or a Nigeria firm partnering with a foreign firm can be trusted more
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by donprinyo(m): 9:45pm On Dec 31, 2021
story story
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Tyche(m): 9:47pm On Dec 31, 2021
post=108971284:

Slow and steady we will get to the nation of our dreams.
Nigeria will succeed and wake up to be the GIANT God has created it to be.

God bless Nigeria and all the good, honest and hardworking Nigerians.
We will keep believing in her and keep praying for her.
We shall get there.

#TeamPositivity.

We Rise.

Awon werey
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Tyche(m): 9:49pm On Dec 31, 2021
rentAcock:
Even if Naira drops to N4000/$, I will continue to believe in this country because I can see what's coming. The wise are heavily investing in Nigeria while the weak are looking for how to go abroad. The whole world is tired of China, they are looking for cheap labor, Nigeria is the next China. We have the population, the youth and the literacy level to be the next manufacturing power. Plus, several countries that benefited from slavery (U.S, UK, Spain and Portugal) have proposed ways to pay back Africans for all the abuse, exploitations throughout our history. There is a conscious effort to make Africa the next industrial hub. Those lacking foresight won't see this, they only see the now and not the later. Ignore the noise and look for a small factory you can start; In the next 5yrs all the big multinational companies like Amazon, Walmart and co will be pouring billions into our infrastructure just to enable us to manufacture goods for them. So many people will miss this boat, but you are hearing this now, act on it.

SMH
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by bilulu(m): 9:51pm On Dec 31, 2021
post=108971284:

Slow and steady we will get to the nation of our dreams.
Nigeria will succeed and wake up to be the GIANT God has created it to be.

God bless Nigeria and all the good, honest and hardworking Nigerians.
We will keep believing in her and keep praying for her.
We shall get there.

#TeamPositivity.

We Rise.
Slow and steady you will get to 1000 per dollar....

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by KaluwisxPRO: 9:59pm On Dec 31, 2021
post=108971284:

Slow and steady we will get to the nation of our dreams.
Nigeria will succeed and wake up to be the GIANT God has created it to be.

God bless Nigeria and all the good, honest and hardworking Nigerians.
We will keep believing in her and keep praying for her.
We shall get there.

#TeamPositivity.

We Rise.

What exactly are you celebrating?? That the Naira is crumbling or you No understand Wetin the article dey yarn??

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by od501: 10:14pm On Dec 31, 2021
post=108971284:

Slow and steady we will get to the nation of our dreams.
Nigeria will succeed and wake up to be the GIANT God has created it to be.

God bless Nigeria and all the good, honest and hardworking Nigerians.
We will keep believing in her and keep praying for her.
We shall get there.

#TeamPositivity.

We Rise.

Did you even understand the post

1 Like

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Roysnickz: 10:17pm On Dec 31, 2021
tititaiwo44:
One word- in the new year, set your gaze towards earning in foreign currency. Our naira is on a long steep.
So true. Join BX66 ASAP, I earn in dollars.
Below is my withdrawer today and on Xmass day

Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by kilisi(m): 10:19pm On Dec 31, 2021
rentAcock:
Even if Naira drops to N4000/$, I will continue to believe in this country because I can see what's coming. The wise are heavily investing in Nigeria while the weak are looking for how to go abroad. The whole world is tired of China, they are looking for cheap labor, Nigeria is the next China. We have the population, the youth and the literacy level to be the next manufacturing power. Plus, several countries that benefited from slavery (U.S, UK, Spain and Portugal) have proposed ways to pay back Africans for all the abuse, exploitations throughout our history. There is a conscious effort to make Africa the next industrial hub. Those lacking foresight won't see this, they only see the now and not the later. Ignore the noise and look for a small factory you can start; In the next 5yrs all the big multinational companies like Amazon, Walmart and co will be pouring billions into our infrastructure just to enable us to manufacture goods for them. So many people will miss this boat, but you are hearing this now, act on it.


Sorry to disappoint you, but multinationals are shifting their attention to India and not Africa. Try to stay current with the latest business news bro.

Take care.
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by micxwell(m): 10:27pm On Dec 31, 2021
hopefulLandlord:
People keep praying for Nigeria to get better while it only gets worse. Nigeria is proof prayers are extremely useless
Nope! Even the bible says, Faith without works is dead.
Nigerian Christians believe a lot in miracles. We pray and sit down and watch, expecting Jah to swing into actions na....
Making the right choices and praying are two different things.
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by donprinyo(m): 10:28pm On Dec 31, 2021
tactical way APC shares dollars among their members
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by otokx(m): 10:30pm On Dec 31, 2021
rentAcock:
Even if Naira drops to N4000/$, I will continue to believe in this country because I can see what's coming. The wise are heavily investing in Nigeria while the weak are looking for how to go abroad. The whole world is tired of China, they are looking for cheap labor, Nigeria is the next China. We have the population, the youth and the literacy level to be the next manufacturing power. Plus, several countries that benefited from slavery (U.S, UK, Spain and Portugal) have proposed ways to pay back Africans for all the abuse, exploitations throughout our history. There is a conscious effort to make Africa the next industrial hub. Those lacking foresight won't see this, they only see the now and not the later. Ignore the noise and look for a small factory you can start; In the next 5yrs all the big multinational companies like Amazon, Walmart and co will be pouring billions into our infrastructure just to enable us to manufacture goods for them. So many people will miss this boat, but you are hearing this now, act on it.

No cheap labour in Nigeria
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by FarahAideed: 10:38pm On Dec 31, 2021
tititaiwo44:
One word- in the new year, set your gaze towards earning in foreign currency. Our naira is on a long steep.

You people like self deceit ..how many people can earn in foreign currency
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by seunoj: 10:43pm On Dec 31, 2021
rentAcock:
Even if Naira drops to N4000/$, I will continue to believe in this country because I can see what's coming. The wise are heavily investing in Nigeria while the weak are looking for how to go abroad. The whole world is tired of China, they are looking for cheap labor, Nigeria is the next China. We have the population, the youth and the literacy level to be the next manufacturing power. Plus, several countries that benefited from slavery (U.S, UK, Spain and Portugal) have proposed ways to pay back Africans for all the abuse, exploitations throughout our history. There is a conscious effort to make Africa the next industrial hub. Those lacking foresight won't see this, they only see the now and not the later. Ignore the noise and look for a small factory you can start; In the next 5yrs all the big multinational companies like Amazon, Walmart and co will be pouring billions into our infrastructure just to enable us to manufacture goods for them. So many people will miss this boat, but you are hearing this now, act on it.
I laugh in Swahili.
Everyman with their own decision/choice.
Your position would have been correct but …..
Is it the same Nigeria that your leaders/politician use foreign partner to invest and exploit its citizens?
Is it the same Nigeria that Labour(skilled and unskilled) is poorly rewarded? Minimum wage!!!
By the time Nigeria will have 24hrs light, the ordinary will name will struggle to put on TV.
Fuel price is still warming up.
U want pple to see the future when a good number one them are struggling to stay alive.
It’s fine to be optimistic but Everyman for himself.
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by nextstep(m): 10:44pm On Dec 31, 2021
post=108971284:
Slow and steady we will get to the nation of our dreams.
Nigeria will succeed and wake up to be the GIANT God has created it to be.

What kind of wishful thinking is this? It's like when we're in school, steadily failing quizzes and homework every week. Yet we retain the belief that somehow we will pass the course without studying. It's like we don't prepare our farm, we don't plant good seeds, we don't weed it, yet we're hopeful of a bountiful harvest.
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by zcee: 10:44pm On Dec 31, 2021
shopwiser:
Wetin concern me...make I just dey trade my forex dey go
please enlighten me on how this forex trade work
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Druss(m): 10:45pm On Dec 31, 2021
rentAcock:
Even if Naira drops to N4000/$, I will continue to believe in this country because I can see what's coming. The wise are heavily investing in Nigeria while the weak are looking for how to go abroad. The whole world is tired of China, they are looking for cheap labor, Nigeria is the next China. We have the population, the youth and the literacy level to be the next manufacturing power. Plus, several countries that benefited from slavery (U.S, UK, Spain and Portugal) have proposed ways to pay back Africans for all the abuse, exploitations throughout our history. There is a conscious effort to make Africa the next industrial hub. Those lacking foresight won't see this, they only see the now and not the later. Ignore the noise and look for a small factory you can start; In the next 5yrs all the big multinational companies like Amazon, Walmart and co will be pouring billions into our infrastructure just to enable us to manufacture goods for them. So many people will miss this boat, but you are hearing this now, act on it.

Who and where is investing? I mean proper investment not oil refinery. A number of companies will leave Nigeria in 2022 if the infrastructure doesn't improve. The world is becoming smaller. Businessmen and shareholders will request greater capital efficiency. Nigeria is not a capital efficient country.
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by ifiokjohn(m): 11:05pm On Dec 31, 2021
hopefulLandlord:
People keep praying for Nigeria to get better while it only gets worse. Nigeria is proof prayers are extremely useless
Not true. You just don't pray you work towards it but Nigeria don't. It's just like a man praying to be right but not working towards it.. it's ain't possible. Do your best and God will do the rest
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Roysnickz: 11:07pm On Dec 31, 2021
TOPCRUISE:
I need dollars. But this dollar scarcity is hitting hard.
I can get it for you
08034942861
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Babastrong(m): 11:12pm On Dec 31, 2021
[quote author=Lawalemi post=108971300]This country is crashing steadily[ your imaginary country, biaflaa?]
Re: Naira Tumbles To N435/$1 At Official Market As CBN Adjusts Forex Rate by Babastrong(m): 11:15pm On Dec 31, 2021
[quote author=shopwiser post=108971309]Wetin concern me...make I just dey trade my forex dey go[with little or zero capital, can i get it right too?]

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