The naira to dollar rate could hit N1000 before the end of 2023, Beni Lar, a member of the House of Representatives, disclosed on Wednesday.

Lar said the naira has been performing badly despite President Bola Tinubu’s campaign promise of bringing down the dollar rate to N200/$1.

The lawmaker revealed that since the floating of the naira by the single exchange rate, the importation of vehicles and other commodities has dropped.

She made this known during the plenary session on Wednesday, where she told other members that when the dollar rate was N0.80Kobo in July 1980, Nigeria wasn’t import dependent, however, the country is import dependent now that the naira is trading to the dollar above N800.

To read more, click on the link below
https://www.primebusiness.africa/dollar-rate-may-hit-n1000-reps-member-says-tackles-tinubu/

It's not about wishful intentions, Nigeria is significantly unproductive. If you want upward appraisal of the value of your currency, it's not by giving speeches over a microphone

Here are strategies to improve the currency value

1. Stop importing what your country needs and uses the most. I.e Petroleum. Invest heavily in local production till domestic needs is fully met. This means investing heavily in crude oil exploration and daily output.


Next would then be to produce an excess of domestic consumption. Begin to invest enough in crude oil production for export purposes.


Next would be to invest heavily in the Liquid gas sector. Invest so much that you begin to compete with global players for market share.


An offshoot of petroleum industry, invest heavily in both domestic and exports of plastics,polymers, fertilizers.

Invest heavily in electricity generation for both domestic and exports purposes. Invest in it's entire value chain form production to distribution while decentralizing the sector. Place a focus of improving power generation by significant quota every 4-6 years. Because it's capital intensive seek heavy loans with long term repayments i.e $1-10bn with up to 100 years repayments.


Invest massively.in agriculture

All of these would bring in heavy flow of currencies while totally decimating outflow of funds in exchange of dollar.



The rep member doesn't understand modern economics and needs to stop being an alarmist. The naira can only improve in value when we begin to position the country on a productive path.


If all this isn't initiated, forget about currency revaluation

"na my turn,na my turn"

Una done finally see am sey na him turn to suffer Nigerians.

ipob reps...

Wodu89:
It's not about wishful intentions, Nigeria is significantly unproductive. If you want upward appraisal of the value of your currency, it's not by giving speeches over a microphone

Here are strategies to improve the currency value

1. Stop importing what your country needs and uses the most. I.e Petroleum. Invest heavily in local production till domestic needs is fully met. This means investing heavily in crude oil exploration and daily output.


Next would then be to produce an excess of domestic consumption. Begin to invest enough in crude oil production for export purposes.


Next would be to invest heavily in the Liquid gas sector. Invest so much that you begin to compete with global players for market share.


An offshoot of petroleum industry, invest heavily in both domestic and exports of plastics,polymers, fertilizers.

Invest heavily in electricity generation for both domestic and exports purposes. Invest in it's entire value chain form production to distribution while decentralizing the sector. Place a focus of improving power generation by significant quota every 4-6 years. Because it's capital intensive seek heavy loans with long term repayments i.e $1-10bn with up to 100 years repayments.


Invest massively.in agriculture

All of these would bring in heavy flow of currencies while totally decimating outflow of funds in exchange of dollar.



The rep member doesn't understand modern economics and needs to stop being an alarmist. The naira can only improve in value when we begin to position the country on a productive path.


If all this isn't initiated, forget about currency revaluation

You have points.

Most of this sinators are there to enrich their pockets.

Tinubu no try at all sha