IamANigerianMan:


Not truth, the rich are the one destroying Nigeria.. they are buying dollar and keep

You are right,bro- call it the Troubles with NIGERIAN LEADERS;
I dislike all these Former Politicians including some who called themselves President, Traditional Rulers,etc because they mostly Played Nigeria by deception,as they Failed to Diversify Nigeria Economy From Oil- not that they don't know,but we're busy deluding Nigerians- but many of you gaulibles Nigerians were thinking they were helping us!
-Imagine this past Finance Minister now- was he not under OBJ? Is now a motivational speaker but could not tell us- how many Youths were Employed during their rein?
-Imagine Gumi- how many Youths did he got Employed ,but was boasting of being a Terrorists friends and still walking freely in the North?
-GEJ- should have been firm in rein but was too weak to perform-- that Dezani could Stole Nigeria blind- even when Mrs Okonji-Iweala was saying 'Let us Save for the reigning Day' the governors were busy deceiving the gaulibles audiences, and the Masses Mostly On Social Media -fell into the Deception and blistering the egos of these Governors,albert unknowly!
So,here we are- Oil,Oil,- without a Single -Functional Refineries since 1961!
Deceitfulness of the Nigerian Rulers because they were never our Leaders- See what is happening in DUBAI- a once Desert place!
•They were ruling themselves- while Saudi Arabia- with ARAMCO - like NNPC,is making waves- No Nonsense on Public Institutions,unlike Nigeria- where Public Servants we're busy Looting our treasury and were not sacked during Buharieta
e g.Nigeria Air- that NBILLIONS of Money was spent on- could not fly and Serika is enjoying Retirement Benefits!
-Just imagine the Millions of Youths-that would have been engaged in the following Sectors,lf our leaders were Sincere and Pro- active- but we're busy playing,tribal ,ethnic and religious Cards!
1- Power- Energy Sector( if we have 24/7- lights ,for 365- Days) is not too much!
2- Aviation Sector- Ethiopia that is duping us have no other business!
3-Agricultural Sector- we should be feeding the Whole Africa by now.Dr Adedeji of AfDB- even put up a Platforms on Agric but all have gone to the Wind!
4- Manufacturing Sectors- where is Dunlop, Michelling,Bata Nigeria at Ojota, Lagos- all gone ,due to lack of Regular Lights, unfavourable investment Regulations,etc
6-Cotton Industry/ Textiles- Industry- the Atlas,the ENPEE industries,the ASWANI Industries- at Oshodi then- ALL gone because we have Rulers,at Federal and States levels- who care less,they were too busy not to know ' Who moved their Cheese' !
Nonsensical People Everywhere!

Nigeria is finishing. I went to cold room to buy my normal fish of 1200/kg fish and was told it's now 1800/kg. But come to think of it, all these ice fish are all imported. Common fish. What happened to our Atlantic Ocean. Foreign fishing companies come to our waters, fish then take to their countries then we go there to import it back

IyaTola:
We must get sense by force, I want it to hit 10k to $1

They Go Soon Wise.


As They Never Ready To Utilize Crypto To Foster And Improve Agricultural Developments and Empowerment Processes;


Their Naira will continue to Fall Against The USDT.




They Never Know Anything.

treesun:


https://punchng.com/why-naira-is-in-free-fall-ex-minister-aganga/

The real reason why Naira is on a free fall is because of sabouteers warehousing dollars for the purpose of round tripping. This is what was happening before Tinubu came. The motivation as at that time was about N300 on a dollar and we are almost getting to that point now.

Ordinarily economic law states that when the price of a commodity increase, the demand for it falls. That is why when the pump price of pms increase, the consumption (demand) reduced.

Now for the exchange rate, the price of dollar has increased after it was floated but if you go into the records you will realize that the demand for dollars has surprisingly increased significantly after the floating of the Naira. What I mean is that if Nigeria was consuming $100,000.00 monthly before the Naira was floated, Nigeria is now consuming about $1,000,000.00 dollars per month now. Creating artificial demand. The demand is artificial because there is no serious new project Nigeria is doing that requires the kind of dollars we currently consume.

If only government can ban all bureaux de change and hand-over all fx matters to the banks and then monitor the banks more closely, the Naira will miraculously get back to its real exchange rate. Government can also have an idea of what the dollars people are looking for is being used for.

Okoroawusa:

Where has he done it before? With what pedigree? This is not about emotional or reverential support.
An importer can't be telling me that he wants to move to production and I will not ask him what he has produced before... think am nah!

Go read about Peter Obi before you argue, he remain the only governor to not build a presidential state house, used anambra made furnitures, did not renovate his office as governor, he chaired 3 banks, and also SEC, he did not collect official car or house.

He invested in innoson you hear today, first governor to also order from Innosson, make onitsha the biggest market in west Africa again in revenue also.

He is a banker, chaired a government commission, he has built successful businesses, companies,

he has governed a state for 8 years without BORROWING a DIME from anywhere,

He remain the first governor to not borrow a DIME, and Still LEFT MONEY IN THE COFFERS for the next govenor

He invested in education and you can see that today,

He remains a prudent spender, he remains the only governor who goes to abuja meetings and other places without carrying aides or anybody.

So many more. HE IS NOT JUST AN IMPORTER, but a Banker, Corporate world guru, and an Investor.

Take it or Leave it. You may hate Peter Obi but you can’t take the fact he is a one of Nigeria greatest export.

Successful did a business in the uk also

At least he was telling you something. What did Tinubu tell you before you guys blindly jumped in supporting him? Make the dollar dey rise anyhow sef, weiting concern people earning in the same dollars?

Okoroawusa:

Where has he done it before? With what pedigree? This is not about emotional or reverential support.
An importer can't be telling me that he wants to move to production and I will not ask him what he has produced before... think am nah!

India is going to use blockch9in to track oil transactions. They are embracing a Truth Economy.

seunmsg:
We don’t have the forex to defend the Naira quite alright but Nigerians are not helping matters. We have a dollar shortage crisis and Nigerians are busy stockpiling dollars at any amount simply for speculative reasons. What is going on is really scary.

We may hit 2k for a dollar before the end of the year with the way things are going. CBN needs to go back to the crude method adopted by Emefiele. Whatever it is they are doing with the PH and Dangote refineries, they should please hurry it up and start production. There will be a huge rally for the Naira once we stop importation of petroleum products. These are the short term measures to stop the free fall. Manufacturing what we need in Nigeria and for export is a long term solution.

Keep blaming Nigerians and protect your oppressor and god in Abuja. Remind me how much dollars we're shared during APC primaries?

successmatters:


Hate will not kill you my brother.

This is d problem with u blind followers and why u can't win anyone over to your side. he asked u simple but important question, rather than answering same, u resorted to emotional blackmail. the question was simple, direct and doesn't connotes hatred, rather it was on economics & development one, but u clearly lacked d right response/defense, hence u resorted to emotions & hatred.

so you are one of the cause of this mess?
buying more than you can chew

Treadway:
we were even importing a lot more then cos money was flowing. I myself started a businesss buying items from Amazon and AliExpress and reselling here, and was spending cumulatively more than 10000 USD a year using my Nigerian debit card... what's even more painful was spending that money wasn't a big deal for me at the time, twas small money, that was just around 1.5m....shey it is the $20 monthly card allowance that has been the case for over 2 years na im Nigerians dey use import. I was importing cars till 2021 when I stopped cos it made no sense to do so anymore due to the landing cost...nobody tell me before I switch to grade A Nigerian used. Let the morons keep capping rubbish and deceiving themselves.

tuborme:
It is called production… Peter Obi gave you the solution but you won’t hear!

Everybody knows this but shey na your yansh you go take produce?
Why didn't he produce when he was the governor of Anambra where he failed woefully.
If you are not in govt,you become a professsional outside adviser with some of the most beautiful advice in history
Talk is cheap!

kenny714433:
That's not even the problem. Imagine sinking all the money into failed industries that have large holes punctured by corruption.

Didn't Buhari swear to complete Ajekuta steel and Refineries? Wasn't millions sunk into the failed project?

Is Tinubu doing anything different?

When we complained about endemic corruption you called us Ipob. Now, they will give me a state in SE because I don't support the inept Tinubu.

Hate him or not, PO would have drastically reduced corruption in most sector of this country.

You never can tell if peter obi will do better, sometimes many non patriotic citizens in Nigeria frustrates their leaders.
For example, during subsidy era, many dubious Nigerians colluded with dubious security personnels to smuggle subsidized fuel out of the country making subsidy money very high

LikeAking:
Nonsense!

Many other countries of the world depend on imports and they still do well.. Kindly check our Arab and North African brothers.

It’s all about management..

U no sabi, u no sabi, no be too talk, experience or degree..

This is the only sensible post here. I've been all around the world. No nation exports more than China and Germany. Most advanced countries depend on import and they're doing fine. We were also import dependent when we were termed giants of Africa . Shebi we still export oil, there many developed countries who don't Export such a lucrative product as crude yet, are doing very well.

You don't expect a country where an accountant general stole over 100bn naira and still walking freely today to succeed. I remember maina's corruption case too. What of the millions of dollars cash discovered at the ikoyi building? Where did tinubu get the 3 private jets he owns? What of corruption case of akpabio? All these can't happen and we expect economic growth. In China, most of our corrupt politicians would have forgotten coming to the world by now or held in prison after vomiting all they've stolen. Nigeria is a country where corruption thrives and psycophants keep worshipping corrupt leaders and encouraging them to steal more, what belongs to them, while their lives keep deteriorating. We're also not a united country. Governance has become a chop make I chop arrangements

What's the volume of our export in the 60s,70s, up to 2011 when the dollar was stable? When other countries subsidize commodities, including Petroleum products, Nigeria with their high level of poverty urrerly removed subsidy to further punish their people, instead of dealing with the corruption surrounding subsidy but they won't. They known themselves as they're still part and parcel of the system.

Mr Aganga had a point but that's not the main problem facing us as a nation. Even if we're exporting almost everything, if corruption keeps holding sway, it won't make any difference.

Yet Peter Obi remains one of the highest importers in the country.

tuborme:
It is called production… Peter Obi gave you the solution but you won’t hear!

Petrol alone accounts for the largest share of all imported products. If we start refining locally alone, a huge chunk of our fx demand will be off the table and naira will be stronger

One must take his solution with a trailer load of salt.

He speaks of strategic industry and I quickly remember he was the minister who came up with the local car manufacturing policy which shot up the import duty on cars to about 70%.

Okonjo Iweala, the then finance minister, was displeased with the policy from the very start and had she been consulted as it should have, it would have been dead on arrival.Even Agannga admitted as much.

This has led to a small boom in local manufacturing But if truth be told, it has been more minus than plus.

Any progress has been at the cost of the Nigerian consumer who has been forced to pay much higher for tokunbo and new cars.

It has also adversely affected the Tokunbo car importation business which provides a livelihood for over a million people.

This prevent government has now brought down import duty on cars bringing respite to the overall car industry.

$1 = #5000
Very soon.. Lolz

If you have a relative abroad, congrats, if you don't have go and borrow one because as the thing dey go I know understand o. I bought it #1050 before I reach house E don turn #1100 and now it's going to #1200

May God help us for we country.

LikeAking:
Nonsense!

Many other countries of the world depend on imports and they still do well.. Kindly check our Arab and North African brothers.

It’s all about management..

U no sabi, u no sabi, no be too talk, experience or degree..

Don't mind them. Armchair economists. Dubai imports almost everything including table water yet, their economy remains strong. Good policy management is the key.

The Govt might be waiting for the Refineries and AKK Gas Pipeline...to boost export and stop the shipment of forex.

Right now, there is no point defending the Naira...decline of Naira will reduce our import dependency but like all things with double edge sword, it will also lead to rise in inflation of products with importation raw materials.

treesun:


https://punchng.com/why-naira-is-in-free-fall-ex-minister-aganga/

[quote author=seunmsg post=126514847]We don’t have the forex to defend the Naira quite alright but Nigerians are not helping matters. We have a dollar shortage crisis and Nigerians are busy stockpiling dollars at any amount simply for speculative reasons. What is going on is really scary.

We may hit 2k for a dollar before the end of the year with the way things are going. CBN needs to go back to the crude method adopted by Emefiele. Whatever it is they are doing with the PH and Dangote refineries, they
My brother, what is happening is quite scary! Without constant power, it is almost impossible to embark on local production. Nigeria is in deep shit.

Okoroawusa:

Where has he done it before? With what pedigree? This is not about emotional or reverential support.
An importer can't be telling me that he wants to move to production and I will not ask him what he has produced before... think am nah!

StFU. Tinubus are the largest importer. OANDO owned by Tinubu is the largest importer of refined petroleum products…and beneficiary of CBN FX.

Dangote is our largest importer.

Nigerian NAIRA just dey dance like crypto

[quote author=kenny714433 post=126514298]

Keep the production aspect aside, let's discuss the point I raised earlier. Ask yourself, why are the industries not working despite all the money being sunk into them...

As a successful business owner, won't it be to look at the statistics available and make useful comparison to arrive at a reasonable conclusion? When PO was busy spitting fact and quoting data, didn't your Asiwaju ask Na statistics we go chop?

The very reason he came back and did exactly
Nwokem, go and sit down somewhere! Peter Obi is not a saint as u portray him. Tell me, why did he sell off Anids vehicles as he was leaving office. What happened? Did u ever hear of Anids after he left office?

Eriokanmi:
This is the only sensible post here. I've been all around the world. No nation exports more than China and Germany. Most advanced countries depend on import and they're doing fine. We were also import dependent when we were termed giants of Africa . Shebi we still export oil, there many developed countries who don't Export such a lucrative product as crude yet, are doing very well.

You don't expect a country where an accountant general stole over 100bn naira and still walking freely today to succeed. I remember maina's corruption case too. What of the millions of dollars cash discovered at the ikoyi building? Where did tinubu get the 3 private jets he owns? What of corruption case of akpabio? All these can't happen and we expect economic growth. In China, most of our corrupt politicians would have forgotten coming to the world by now or held in prison after vomiting all they've stolen. Nigeria is a country where corruption thrives and psycophants keep worshipping corrupt leaders and encouraging them to steal more, what belongs to them, while their lives keep deteriorating. We're also not a united country. Governance has become a chop make I chop arrangements

What's the volume of our export in the 60s,70s, up to 2011 when the dollar was stable? When other countries subsidize commodities, including Petroleum products, Nigeria with their high level of poverty urrerly removed subsidy to further punish their people, instead of dealing with the corruption surrounding subsidy but they won't. They known themselves as they're still part and parcel of the system.

Mr Aganga had a point but that's not the main problem facing us as a nation. Even if we're exporting almost everything, if corruption keeps holding sway, it won't make any difference.

Corruption himself (the druglord) cannot fight corruption.
While Peter Obi is held to the highest standards , Mr Tinubu is allowed to forge results, rig elections, deal drugs and even have criminal records.
This is the Nigeria these Apc robots love and cherish

5000NGN to $1 before the end of Tinubu first tenure.
Vote him for second term 10000NGN to $1.


What a way to become filthy rich. grin grin
Una go get sense Las las

kenny714433:
That's not even the problem. Imagine sinking all the money into failed industries that have large holes punctured by corruption.

Didn't Buhari swear to complete Ajekuta steel and Refineries? Wasn't millions sunk into the failed project?

Is Tinubu doing anything different?

When we complained about endemic corruption you called us Ipob. Now, they will give me a state in SE because I don't support the inept Tinubu.

Hate him or not, PO would have drastically reduced corruption in most sector of this country.

Yes, bcoz he would be president, VP, Chief of Staff, SGF, Head of service, minister, DG CEO of all Govt Parastatals and Agencies, and the perm sec of all the Ministries.

How come his senators and Reps members are insisting on taking the SUV jeeps of #130m?

It's like saying that if an Angel was appointed from heaven as Chairman of INEC, rigging and irregularities would end. The chairman would be in Abuja while Returning Officers and political actors would be doing their rigging and ballot snatching from polling units to Wards to local councils to States before it gets to Angel in Abuja.

The other time the Senate President sent prayers to the email box of senators, LP senators never returned theirs till today.

Let him control his representative and we start measuring him from there.

Our problem is DESPERATION. It must be me, and if it's not me, let it not be him / her.

BigIyanga:

StFU. Tinubus are the largest importer. OANDO owned by Tinubu is the largest importer of refined petroleum products…and beneficiary of CBN FX.

Dangote is our largest importer.

These ones are mindless Apc robots na.
If Peter Obi says the Sky is blue, these minions are ready to swear that the sky is black.
People that cry over anything Peter Obi says but turn deaf and dumb when their drug lord misyarns.

Notice how every useless decision Mr Druglord makes is somehow connected to H.E Peter Obi.
What will Peter Obi do differently?
Why did Peter Obi not do like this?
Peter Obi is the same.
Peter Obi ....

They are all scared of the man so their job is to push false narratives as much as possible.
Nigerians all expected it so its funny when these clowns start performing according to their scripts.

B.A.A.T is a complete failure at only just 6 months in Power.
Neither legitimate nor even business savvy to handle a burgeoning economy like ours.
Making decisions and rescinding them without any concerns over the impact.
Running a bloated government when saving should be the primary currency in our inflated market.

The list goes on and on but an Apc robot would rather ignore all of these and tell you how one Peter Obi would not be President.
Tinubu is like a monkey who after fighting to be in the drivers seat, is clueless on how to start the car

Nigeria is not the only import dependant country.. The problem is dual foreign exchange windows... It won't work in a country like Nigeria.

Tareq1105:


Yes, bcoz he would be president, VP, Chief of Staff, SGF, Head of service, minister, DG CEO of all Govt Parastatals and Agencies, and the perm sec of all the Ministries.

How come his senators and Reps members are insisting on taking the SUV jeeps of #130m?

The other time the Senate President sent prayers to the email box of senators, LP senators never returned theirs till today.

Let him control his representative and we start measuring him from there.

When the head is rotten, the body will follow.
The Senate Leader was personally recommended by Tinubu.
The Senate Leader , who still has as running case with Efcc , was a terrible choice but trust Apc to normalise anything evil.
His stupid utterance on the first day of government about subsidy has now bitten him in the ass.
His Government is currently the most bloated in our history.

But trust Apc robots to ignore all this and foolishly try to whitewash a criminal.
We will be here when FBI releases his record and these same heartless robots would still come here to defend him.
Only a morally corrupt person can support Tinubu. This is a fact.
Do business with such people at your own peril

MUMU NA ONLY PITOBIDIOTS TALK ABOUT PRODUCTION? is called production… Peter Obi gave you the solution but you won’t hear![/quote]

Programmer47:


When the head is rotten, the body will follow.
The Senate Leader was personally recommended by Tinubu.
The Senate Leader , who still has as running case with Efcc , was a terrible choice but trust Apc to normalise anything evil.
His stupid utterance on the first day of government about subsidy has now bitten him in the ass.
His Government is currently the most bloated in our history.

But trust Apc robots to ignore all this and foolishly try to whitewash a criminal.
We will be here when FBI releases his record and these same heartless robots would still come here to defend him.
Only a morally corrupt person can support Tinubu. This is a fact.
Do business with such people at your own peril

I quite agree with some points you made but you messed it up when you touched the issue of FBI. What is FBI report? What effect would FBI report have on a person elected president of a sovereign country? Except if the FBI report says he was jailed in US and he broke jail.

But if he was jailed and he served his terms more than 10 yrs ago, the report wouldn't affect him. This is bcoz criminal conviction in Nigeria expires after 10 years. See 1999 Nigeria Constitution section 137.

Don't forget that FBI report is not a conviction but a subject of litigations. I'm sure your FBI agent would be very careful about whatever report against Tinubu that would lead to court case.

Let me advise you, it's only a conviction of a proper Court and registered in Nigeria that can remove Tinubu.

Even the issue of identity female or male is a litigation on its own not conclusive.

I said it.. nigeria to be a producing economy is the solution...