TheOldGods:
oga be calming down. Earning in dollars now is as useless as the naira. Because as dollars are going up, prices are also going up to the same price or even higher. Example a bread that was sold for 300 naira is now sold for 800 naira. Let's do the maths, you earn 100$ a month, and then you multiply it and it give you 70k, instead of the old 50k. That 20k increase, then you think you got more, but at 50k, that bread was sold for 350naira. So you are paying more at your 70k to get the bread. Unless you are earning over 5000$ every single month, that's the only way you can breakthrough

kk2027:


And APC is saying that Tinubu will continue from where Buhari stopped smh

Dim08:


Your maths was wrong!
You cannot compare someone who earns in dollar and spend in naira with someone who earns in naira and spend in naira too.

Time value of money comes to play.

While one may work 4 hours per day and earn N4,000 at N1,000 per hour.
The other will work same 4 hours and earn $60 per day at $15 per hour.

The difference is the time value of money.
The other will work 9-5 to earn

Everlastingson:




In all these your analyses you seem to forget that the country is ruled by thieves. The thievery of the ruling class is the key reason things are so bad. We need someone who will stop or at least reduce the looting, otherwise nothing will work. Because they will steal every kobo. As it stands now only Peter Obi will stop their looting. He did it in Anambra State.

anigbajumo:


Not possible, The only help we can do is to provide excess fX for him….Our current debt to revenue is negative as at second quarter of 2022, Deficit of over 300billion…Imagine adding up of billions of Naira via supplementary budget because of one private investor?? That’s not a wise decision bro…

okeysoninv:
they are not telling Nigerians the truth. our import doesn't reach $80b annual so where are dollars earns from oil, gas, remittance, other solid minerals and agriculture going. we need explanation.

Cognitivereason:
they are not telling you lies either

for example..in 2020..we imported $52bn worth of goods but only exported $42bn worth of goods of which 90%is crude oil..

can you see the imbalance.. why wont you have a starve foreign reserve

https://oec.world/en/profile/country/nga?flowSelector1=flow1&yearlyTradeFlowSelector=flow1

GeneralPula:
When $1 was at 150 or so, it wasn’t as if government was going anything spectacular then. What was helping then was the fact yahoo boys are bringin in USA dollars everyday via the western union, making dollars sufficiently available in every bank. The is the main reason why Naira has been depreciating the moment these yahoo boys started leaving Nigeria..

Bank people knows this..

Go and check. The more USA dollars you have in your country, the more your currency appreciates against the dollar and vice versa..

One of the solution to this is we should increase our local production. Export more and import less. Farming that’s suppose to be helping us largely, people prefers to become doctors or lawyers than a farmer..

The question now is what do we export? We can’t export fake things. It won’ sell. And fake things too plenty for naija..

okeysoninv:
another useless lie. Nigeria exports 1.3 barrels a day multiply by 365days that's is about 500million barrels multiple it by 105dollars you are get close to 50b dollars. that's for crude oil. then gas 35b cubic meters a Price of cubic meters of gas is 2usd. you are getting 70b USD. then non oil exports you can find the figures. finally add 20b USD remittances. total dollars revenue is more than 150b USD .where is the money? emefiele need to answer.

Cognitivereason:

if we have to borrow on his behalf..it is welcomed

getting Dangote refinery to work with end fuel importation, end fuel scarcity, stabilize the forex market, end bad or adulterated fuel, save a whooping 25% of our foreign reserves...

inshort we can say good buy to fuel shortages for life if government now opens port Harcourt refinery...the advantage by far supersedes any disadvantage which ofcourse transferring FG revenue to him...

we need that refinery now!

thebosstrevor1:
This is funny

Bdcs operating in the black market are being starved of dollars, that means they have to make price attractive to bring in dollars

Cognitivereason:


dollar revenue has never reached 80bn USD..

you are forgetting that the exponential rise in crude oil export value will directly lead to the rice in the value of imports specifically petroleum product as we use the excess dollars to now pay for the rise in cost of fuel..

and please this is not the issue or add and subtract.

provide links that backs ur multiplication and division..

Nigeria's export has never exhided 60bn USD
except you want to argue with the world bank, world trade organisation, OEC, tradingeconomics, PWC and the likes that report similar things

https://www.worldstopexports.com/nigerias-top-10-exports/
https://globaledge.msu.edu/countries/nigeria/tradestats
https://wits.worldbank.org/CountryProfile/en/NGA

samabiodun:
I was so amazed when I changed a mere $15 to #10,490 around 2 pm today our naira is finished even 1 cefa is around #1.4.
Buhari is the worst president Nigeria has ever have
while Emefiele is the worsted CBN governor so far

Rahkman:
Na 1k e go reach before october....by then I go cash out my dollars for bet365 wey the value just dey increase like cryptocurrency

cococandy:
probably the most sensible thing you’ve ever said in your life

chuksanambra:


Emefiele was never a sound mind. He was an ordinary deposit mobilizer in Zenith Bank.

anigbajumo:


You are right but this government won’t do anything on that PH refinery but the only viable option for now is dangote refinery. You can’t borrow for an individual at the detriment of over 200mllion people no matter the advantages.

okeysoninv:
hope you can make use of your Google and arithmetic very well . nigeria is currently exporting 1.4m barrels per day multiply it by 365 day. one barrel is 108 Bonny sweet crude that's 55b USD. Nigeria is exporting 38b cubic meters of gas years multiply it by 3usd that a price for 1, cubic meter of gas. you are getting nothing less than 100b USD. the other exporting minerals and agriculture plus finish products are not included. disprove it with a verifiable figure that Nigeria is not exporting 1.4m barrels per day or the gas is not 38 billion cubic meters. Emefiele holds the answer for where they are keeping the Dollars earned from resources taken from Nigeria to.

Cognitivereason:


no body asked you to screenshot what we produce and it quantity as well as price..

exports and imports are not straightforward arithmetics of adding and multiplying otherwise that your figure is what will be globally reported...

show me screenshot of any renowned auditing firm that reports $150bn forex gains annual.. you are free to post any year ..in short go as far as fetching data from Obasanjo tenure, when Soludo, Sanusi were CBN governors, fetch the data as at when Okonjo Iweala was serving finance minister since you think the problem is Buhari and Emiefele...

just prove to me that any renowned business and economic analyst, newspaper or firms including Bloomberg, world trade organisation, Reuters, OEC, Statista, NBS..etc

I will take you seriously when you show me proof

I am waiting

okeysoninv:
I believe you are educated , the figures are there for you to see . maybe I should take you back to primary school . what I gave you is the total amount earnings collected by companies mining crude oil and gas in Nigeria. you can see there is enough dollars in the figures. yours is more of govt revenue and royalties collected by the government. it's has nothing to do with foreign exchange earning. a good working CBN should have mandated the oil companies to sell their Dollar exchange earnings to them by some percentage. we could have had enough foreign exchange in the market. this is nothing to argue about. Nigeria has no business to lack dollars when exports and remittances is close to 200b USD

orikoku:
Please what can I invest 500k on.

Cognitivereason:

first, there is no figure there for me to see

second, your screenshot doesnt contain anything referring to the earning of crude oil and gas companies.

third, you are confused as I have never mentioned anything related to government revenue neither do my links lead to anything related to revenues but foreign exchange earnings through exports

forth, Nigeria has never recorded 200bn USD worth of export earnings... if you think so show me proof where it was clearing stated Nigeria earned 200bn USD forex through exports otherwise go to sleep my friend.

Exkandayee:
Make e reach 2000, make I finish my mansion for naija