As long as Nigeria's demand for forex remains higher than our supply, the exchange rate will continue to decline.

1000 NGN to 1 USD by December is being very optimistic. We will likely get their before then.

The obvious truth is that things are getting more expensive everyday and the common man is suffering badly - everything else (like this article)
na grammar!

For those claiming that things are getting better, then whatever changes the common man is experiencing, may God bring 1000 times of such changes on you, your family and your yet unborn descendants!

realmindz:


But Biafra does not exist as a country.

Tell me, if you are to fill a form for a very important application and they ask for your nationality, what do you put?

I put Nigeria. That is because Nigerian government still occupies land by force which the Biafran government in Exile is trying to break and force them out of Biafran land.

castro2468:
We cannot survive on statistics alone; the streets of Nigeria are grappling with hunger and poverty, while food prices continue to rise.

It will take time.

A step government can take now to hasten economic growtb and inflow of forex and foreign investment is to cut corporate tax to 15% or less and reduce the withholding tax on dividends.

The slash in company tax and withholding tax should lead to a massive inflow of foreign portfolio investment into Nigerias stocks. Rising share prices will enable publicly traded companies float new shares to expand production and so on.

Government must also stop the inflationary habit of paying the dollar component of revenues earned to the 3 tiers of government first in dollars whoch they later use to buy forex. Give it to them in Dollars first which they change to Naira as this will not only strengthen the Naira, but will drive down inflation and enable a much lax monetary policy which will eventually see the long desires low affordable interest rates.

TheboyGhost:


I put Nigeria. That is because Nigerian government still occupies land by force which the Biafran government in Exile is trying to break and force them out of Biafran land.

So for now, you are a Nigerian

castro2468:
We cannot survive on statistics alone; the streets of Nigeria are grappling with hunger and poverty, while food prices continue to rise.

There is no magic to economic stability and growth. It takes time and consistency and that's assuming your are adopting the right policies. I do belive the policy is right, but it's too soon to expect miracles from foreign investment.

Foreigners are still waiting to see the Ministers, judge economic policy direction in other areas, see that's it's being followed faithfully before they get the comfort to bring in their dollars.

realmindz:


So for now, you are a Nigerian

No I am a Nigerian, they occupy my land and so i am forced to be called one.

IyaTola:
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Mummy Tola, Can i send this to my elder sister? she's graduated in lasu. History and international relation. She has worked as hotel manager and also work at the airport before.

Shattuck:
actually I think you are the one whose brain power cannot process what is going on, the naira is falling against the dollar, Nigerians in the diaspora are the major source of FDI into the Nigerian economy most of these folks in the diapora who have naira account are just using the fall of the local currency to cash out by converting their foreign currency.

And emefiele made it difficult to receive money despite knowing all this. Wow!

tollyboy5:

Mummy Tola, Can i send this to my elder sister? she's graduated in lasu. History and international relation. She has worked as hotel manager and also work at the airport before.

Yes please