allthingsgood:


Try to read post before commenting

See the way am looking at you.... ordinary comprehension of my comment hard you.....nawaoh

Bidema:
Guys please when last did your country monitored American economy.

That's what you get when you depend on people for your daily bread

God bless you for the first question you asked them.

Naturally many Nigerians have brain but can't use it. EU said this they jumped here talking rubbish without using their brain. America said this they jumped here like a slow poke talking thrash some even blaming Tinubu already a govt less than 4 weeks for a damage of over 22 years.

I asked them again when has Nigeria ever monitor or be a decider of Dollar value, Pounds value, Euro value, Rubble Value, Yen Value, Kroner Value?

imam07:
So what did u do on your first post. It doesn't shows bigotry to you? If u live in glass house. Don't throw stone

How does it show bigotry? Lol. You CORNfused?

Exactly. I still don't understand why all these economists around him are not telling him the truth. He wants to use Lagos model to lead a country where 90% of the states are not productive.

A consuming nation hoping to improve its exchange rate against producing nations. Is that one not madness?

Chloraseptic:
Somebody said he would continue Buhari legacy and zombies want him to be better than Buhari. Is that not stupidity..

The man is busy dishing out new policies just after assumption of office in a bid to come off as proactive president without properly thinking it through..

It's kinda like a coach who uses all his subs in first half without without thinking about how the game might turn out in the second half.

JasonScoolari:
This is just the beginning.... First thing tomorrow, hike in Electricity Tariff will hit everyone hard.

Sad thing is that one Kwara Polytechnic Nd2 dropout, living in the suburbs of Ilorin as a part-time agbero, with a heavily padded Itel A2 as his major property and traits of mental disorder will come here to abuse Obidients and everyone who speaks against Tinubu and his tax killing government..

Parachoco:
The way some of una dey always talk eh

All the Financial experts/institutions wey don talk say the Naira go stable at 600+ are wrong, nah only you right

What a 🤡

Abi o 😂😂😂

emmabest2000:
China with strong economy and powerful leader has been dreaming of bringing down the exchange rate of USD for two decades by all means but .....
RMB to USD
2003 to 2005 100usd - 820rmb
2006 to 2009 100usd - 810rmb
2010 to 2012 100usd - 780rmb
From 2013 till 2022 the lowest was
100usd - 640rmb
Currently the price now is around
100usd - 710rmb
Believe me if it is that easy China would have force down the exchange rate to 100usd = 100rmb

But for Naira
2003 100usd 130naira
2023 100usd 700naira

Not true, China is artificially undervaluing the yuan against the dollar for years.

Washington is against this policy and have been urging China to allow the yuan to compete freely on the open market and China has refused.

China is a major export hub to the USA, a weak yuan would favor Chinese exporters and make yuan very cheap to USA importers trying to get goods & services from China.

Current weak Naira will attract investors and foreigners willing to export goods & services out of Nigeria, as Naira strengths, the attraction will start dying down as it would become more difficult to get hold of Naira on the open market.

JasonScoolari:
How does it show bigotry? Lol. You CORNfused?

hahaha aswer, corn sweet o. Corn and pear. It will be well with only me and ma family

Parachoco:
The way some of una dey always talk eh

All the Financial experts/institutions wey don talk say the Naira go stable at 600+ are wrong, nah only you right

What a 🤡

Don't you know that analysis can be revised? Forward guidance can be revised if you don't know.

Parachoco:
Naira will be between #550-#650 before the end year

Stfu

jmoore:
The analysts are obviously myopic. Nigeria is an importing country, therefore expecting a dollar to be 650 naira next year won't happen. Tens of billions of dollars from crude oil revenue is not enough to meet the demand of forex.

They are just willing to milk Nigeria Dry

Na Ina won make naira be 550 na. With a CORNfused president o. Na magician abi

emmabest2000:
China with strong economy and powerful leader has been dreaming of bringing down the exchange rate of USD for two decades by all means but .....
RMB to USD
2003 to 2005 100usd - 820rmb
2006 to 2009 100usd - 810rmb
2010 to 2012 100usd - 780rmb
From 2013 till 2022 the lowest was
100usd - 640rmb
Currently the price now is around
100usd - 710rmb
Believe me if it is that easy China would have force down the exchange rate to 100usd = 100rmb

But for Naira
2003 100usd 130naira
2023 100usd 700naira

You are actually wrong on this. China on the contrary, manipulates it's currency to keep the value low and discourage it's citizens from buying cheap and superior American goods and rather encourage local patronage and exports to earn more dollars.

China does this by buying trillions of Dollars worth of American Treasury bills to maintain a negative ballance of payment and a positive Ballance of trade with huge export of goods and services.

A weak Yuan or remnibi is good for an already industrialized economy like China as it would discourage imports and encourage the patronage of the local industries and exports.

georgeakins:


Obi is dumb, always quoting irrelevant data to impress his illiterate followers

The smart slowpoke you voted where is he hitting the ground to....Y'all are just bunch of nitwits

DeLaRue:


The government should continue to spend more than $5 billion a year to subsid⁶ise an artificial naira value of N460?

And another $9 billion to subsidise petrol.

And also subsidise many other sectors of the economy.

Mostly with borrowed money.

Are you a baby that government must subsidise every aspect of your life.

Are people in Togo, Republic of Benin, Ghana etc not surviving without ruinous subsidies.

You want the country to go bankrupt like Sri Lanka, Argentina, Lebanon etc

If the country goes bankrupt, naira will go to about N2,500 (or more) to a dollar. I guess your subsidy eye will clear then.

Anyway, the naira is not on a complete free float. The current market price is closer to its real value that N460 was. Government will support the naira if it falls too hard.

It will eventually find its natural level, and that level is likely to be under N700 for some time.

Bross, abeg answer these 2 questions with the fear of God make thunder no fire you.

1. What have you ever benefited directly, from the Nigerian government as a citizen since you were born?

2. The supposed subsidy funds retrieved after its removal, where are they channelled?

I want to be president I want to be President for u , drive me there.. now story don change to God will fix Nigeria 😆😆

APC Government is a typical failure, but the administration will favour the VultureBBQgrill and crews shaa.

blaise26abj:
Okay we don hear, USA . If only you can pump tens of billions to us ,after your unsolicited analysis, the way you are giving Ukraine money for a useless war wey no concern Una , we for appreciate the analysis.

Since you can’t , you can shove it up your arse

Pump tens of billions of dollars into your economy that your greedy politicians will embezzle right. Just think about your opinion on this. Are you making sense at all ?

VenExchangee:

I got the advise from madman...😎😎😎

DeLaRue:


It's laughable.

Every hour, Nigerians are monitoring Naira/USD rate even when they don't do any international trade.

Tailors, office workers, landlords, teachers, market men and women etc are discussing dollar rate every day.

Every time the value goes up by any amount, people's blood pressure rises enmass.

My sister has no business with the dollar, but anytime she calls, she will ask if I know that dollar is so and so

The slavish obsession with the dollar is contributing to making more people wanting to buy it, therefore destroying the naira.

People are just 'doing themselves '.

We are not Americans. Dollar is not our currency.

Why are we obsessed with this currency.

I don't think there's any country in the world where whole swathes of the population have deified another country 's currency.

What a dumb statement. Do you need to engage in international trade before it affects you? Once you have anything to do with imported goods. It will affect you. Your clothes are imported. Most of your food is imported. You may think you consume local food but the raw materials are imported. Do you know that Nigeria is one of the highest importers of palmoil? Yes, palm oil. We import about 80 percent of our palm oil consumption. Our fuel is imported. All vehicles are imported. Vehicle parts are imported. Steel is imported. Construction materials are imported. All industries in Nigeria heavily rely on importation in their value chain.

We trade with China but trade in dollars or yen, because our currency is the problem. China cannot afford to stockpile an unstable naira.

The exchange rate is not widening because USD is gaining but because Naira has lost value so Naira is losing not just to dollar but to GBP, EUR, YEN and other stable currencies. The result is a massive rise in cost of living without economic growth, meaning that less and less people will be able to afford their lifestyle and will be forced to adjust to a lower standard of life. And you're here saying that it doesn't affect you.

DeLaRue:


It's laughable.

Every hour, Nigerians are monitoring Naira/USD rate even when they don't do any international trade.

Tailors, office workers, landlords, teachers, market men and women etc are discussing dollar rate every day.

Every time the value goes up by any amount, people's blood pressure rises enmass.

My sister has no business with the dollar, but anytime she calls, she will ask if I know that dollar is so and so

The slavish obsession with the dollar is contributing to making more people wanting to buy it, therefore destroying the naira.

People are just 'doing themselves '.

We are not Americans. Dollar is not our currency.

Why are we obsessed with this currency.

I don't think there's any country in the world where whole swathes of the population have deified another country 's currency.

Nice sermon
Preach it first to your leaders

DeLaRue:


It's laughable.

Every hour, Nigerians are monitoring Naira/USD rate even when they don't do any international trade.

Tailors, office workers, landlords, teachers, market men and women etc are discussing dollar rate every day.

Every time the value goes up by any amount, people's blood pressure rises enmass.

My sister has no business with the dollar, but anytime she calls, she will ask if I know that dollar is so and so

The slavish obsession with the dollar is contributing to making more people wanting to buy it, therefore destroying the naira.

People are just 'doing themselves '.

We are not Americans. Dollar is not our currency.

Why are we obsessed with this currency.

I don't think there's any country in the world where whole swathes of the population have deified another country 's currency.

Dumbo.....go back to school, if you had any

JasonScoolari:
This is just the beginning.... First thing tomorrow, hike in Electricity Tariff will hit everyone hard.

Sad thing is that one Kwara Polytechnic Nd2 dropout, living in the suburbs of Ilorin as a part-time agbero, with a heavily padded Itel A2 as his major property and traits of mental disorder will come here to abuse Obidients and everyone who speaks against Tinubu and his tax killing government..

damn!

Parachoco:
The way some of una dey always talk eh

All the Financial experts/institutions wey don talk say the Naira go stable at 600+ are wrong, nah only you right

What a 🤡

Oga what he said is simple economics.

DeLaRue:


It's laughable.

Every hour, Nigerians are monitoring Naira/USD rate even when they don't do any international trade.

Tailors, office workers, landlords, teachers, market men and women etc are discussing dollar rate every day.

Every time the value goes up by any amount, people's blood pressure rises enmass.

My sister has no business with the dollar, but anytime she calls, she will ask if I know that dollar is so and so

The slavish obsession with the dollar is contributing to making more people wanting to buy it, therefore destroying the naira.

People are just 'doing themselves '.

We are not Americans. Dollar is not our currency.

Why are we obsessed with this currency.

I don't think there's any country in the world where whole swathes of the population have deified another country 's currency.

Yea, you are correct, but need I remind you Nigeria is dependent on foreign nations for virtually everything, you pay in foreign currency, back home where one has to pay to get his or her goods into the country , you will have to tip some persons. All this payment are not free, the burden are shifted back to the consumers. So when dollar rate increases, PMS increases and everything else will obey...

More reasons the first step is to turn Nigeria from a consumption to production country. Unfortunately, the kinda people they elect knows the problem, but are not willing to tackle this problem because a lot of them are benefitting from it...

We have really entered one chance!!!

How do men and women with family survive?

The tax burden is terrible.

Tinubu brought Buhari and APC so nobody should exonerate him from this evil they have collectively unleashed on us.

JasonScoolari:
This is just the beginning.... First thing tomorrow, hike in Electricity Tariff will hit everyone hard.

Sad thing is that one Kwara Polytechnic Nd2 dropout, living in the suburbs of Ilorin as a part-time agbero, with a heavily padded Itel A2 as his major property and traits of mental disorder will come here to abuse Obidients and everyone who speaks against Tinubu and his tax killing government..

JasonScoolari:
I will only enlighten you to learn how to be more reasonable.

lol. Ok

Jbleenk:
The west especially USA have always held us in the throat forcing us to devalue our currency since time immemorial. Pls let the poor breath.

The value of the currency of any country is 98% based on their fiscal and monetary policies.
The sad reality is that Nigeria is not important to survival of the American state.
Saudi Arabia is supplying the crude oil we bring to the table.
We should develop our society and economy well enough, and watch the dollar fall lower than the naira.

Too early to conclude. It'll take at least six months for the naira to settle. Besides, unremitted airlines dollar funds have not been factored into the analysis.

“The caution is transition time, aligning rates and still to unlock more USD into the formal market will take some time.

When the dust has settled, the value of the naira should be stronger and appreciating,” the analysts added.

For whatever reason, the OP decided not to highlight this part of the statement...maybe because it shows loads of positivity.

It's well with Nigeria

femisplash:

98% of our revenue goes into debt servicing, if Tinubu was not bold to remove subsidy and float the naira to curb fx round-tripping, in 5yrs, you may have to be sold to an Arab master for 50,000naira to feed your family. These pained losers should try and be reasonable (eventhough it's lacking in their faculty) than wailing brainlessly all the time.

All these figures sha
98% of our revenue goes to debt servicing
Govt spends 4tn every year on fuel subsidy
Yet FG and states shared 990bn in Dec 2022 fron federation account
Nigeria has a 14trn budget of which debt servicing is about 30%
I think God is already taking care of Nigeria
We only fail to appreciate

Jbleenk:
The west especially USA have always held us in the throat forcing us to devalue our currency since time immemorial. Pls let the poor breath.

You will also blame the west for the miserable life you have lived also. Always blaming others, when your country is corrupt and doesn't care the cost of corruption.

SmartPolician:
Those who forecast that naira will gain over the dollar as mere speculators. Exchange rate doesn't require prayer and fasting. You must be willing to put in the work for naira to gain over foreign currencies.

Sadly, Bola Tinubu is busy gallivanting all over the South West instead of taking steps to kick off projects that will increase Nigeria's FX earnings like harnessing Nigeria's gas reserves, meeting OPEC's crude oil export for Nigeria, and increasing Nigeria's cash crops for export.

Does he even know the level of hardship he has caused for floating the naira and removing PMS subsidy?

You're speak with wisdom
You're right