If not for crypto and Forex trading alongside with my established bussinesses I had on ground, this useless Nigerian government and its failed policies would have taken a serious toll on me as a family head.Despite these,am currently feeling the heat.Nigeria is plaqued by having millions of morons with beards claiming to be adults and supporting clueless government officials and their propaganda.

The Nigerian Naira is on a rapid free fall and no amount of useless polices by tinubu and his cohorts will save it because Nigeria doesn't have any 0.0000001% chance that this country can export more than it can import.whoever is believing this theory is the BIGGEST IDIOTIC HOMOSAPIEN of the twenty first century.
What will Nigeria export to automatically give us Forex in USD?is it our ill equipped manufacturers and underfunded agricultural sectors that will do the magic and give Nigeria an export base of 200 billion dollars annually or its what?Do idiots supporting these crazy policies know that it's extremely difficult to compete with the established heads in the manufacturing space?is it innoson export or the overruned farms in Nigeria by bandits that will compete with Mercedes and other established agricultural companies in the game? The solution to these mess is simple.

FIX THE NAIRA EXCHANGE RATE TO THE DOLLAR

Only a fool will think that Nigeria Naira can survive in this floating exchange system.fixing(pegging) the naira value at a constant rate is the only thing that a wise leader would do at this present situation.The dollar been a major global foreign reserve for over 200 countries is not something a 3rd world poverty ravaged nation under a bunch of baboons as leaders ought to ignore or deceive people that they can do without.We need to fix the naira at the dollar e.g 1naira to 1USD to save our volatile naira.China did it in the 1990s until 2006,Brazil Saudi Arabia all operate a fixed exchange rate.while can't Nigeria do the same?Nigeria had become a laughing stock globally due to bad leaders.

ACCEPT THE DOLLAR AS A CURRENCY

If everything else failed, Nigeria need to accept the dollar as a currency just as panama did so that we can have a stable economy for once.Even Argentina are already contemplating this move.If we can't peg the naira to the dollar,Tinubu and his friends should stop deceiving themselves but come to reality of either to peg the naira to the USD or accept The USD as a currency.

This are the only options that can save this country or else mark this post and date 1 USD will equal 3000 naira by this time next year.

This is not time to be tribalistic but time to face reality

Okay

Front page material

Awa Lokan

It's just somehow.

Our elders said that we should look before we leap, but bobo chicago just lifted our economy on to his head at the spot he was sworn in and jumped waaaaa! into a quangmire.
The subsidy he removed is back through the back door, while the exchange rate he floated has been unfloated; dollars sell at the rate of 880 naira at the central Bank, but is sold at the rate of 2250 naira at the parallel market.

Omo the best thing to every family in Nigeria is to contribute money and send one of thier family member abroad cause as it is now before December 1$ will become 3000naira mark my words today as I'm typing this now 100CFA is 190Naira ...CFA that was 100Naira to 350CFA during Jonathan's regimen the Country it's finished anybody believing Tinubu and APC propaganda is risking his or her mental health

StarRiderr:
Omo the best thing to every family in Nigeria is to contribute money and send one of thier family member abroad cause as it is now before December 1$ will become 3000naira mark my words today as I'm typing this now 100CFA is 190Naira ...CFA that was 100Naira to 350CFA during Jonathan's regimen the Country it's finished anybody believing Tinubu and APC propaganda is risking his or her mental health

That absolutely true.Naira is collapsing and morons are cheering on tinubu

It's so pathetic.

kiddkash:
Awa Lokan

What is the meaning of this nonsense picx.

PaNnamdi:
This is not time to be tribalistic but time to face reality

I don't really think that would work... The most important thing in any economy or currency is confidence that's just it

The confidence I would put $100 worth of naira in my account and travel for 1 year and it would be worth around $100 when am back

mrvitalis:

I don't really think that would work... The most important thing in any economy or currency is confidence that's just it

The confidence I would put $100 worth of naira in my account and travel for 1 year and it would be worth around $100 when am back

No amount of confidence will save the naira if those at the head refused to do the right thing.

Let one naira be fixed at one dollar or better still lets accept USD or crypto for payment in Nigeria.
That's the only solution.

PaNnamdi:

No amount of confidence will save the naira if those at the head refused to do the right thing.

Let one naira be fixed at one dollar or better still lets accept USD or crypto for payment in Nigeria.
That's the only solution.

Like Peter Obi said... We need to borrow... We must borrow to defend the naira

But but how we use the borrowed funds is the Koko

mrvitalis:

Like Peter Obi said... We need to borrow... We must borrow to defend the naira

But but how we use the borrowed funds is the Koko

All those ones na long talk oga
Obi is a crazy and manipulative guy,even me as a full blooded Igbo man cannot and never fell for his tricks at his height of rave.

The solution to Naira is simple.FIX THE USD TO THE NAIRA at 1:1 and control the inflation that arises that's it.

It's all takes aggrement of the CBN and US federal reserves to do the job.this is only possible if we had a smart head as president but currently we have a sick head rather.

PaNnamdi:

All those ones na long talk oga
Obi is a crazy and manipulative guy,even me as a full blooded Igbo man cannot and never fell for his tricks at his height of rave.

The solution to Naira is simple.FIX THE USD TO THE NAIRA at 1:1 and control the inflation that arises that's it.

It's all takes aggrement of the CBN and US federal reserves to do the job.this is only possible if we had a smart head as president but currently we have a sick head rather.

How do you fix the naira when you can't defend it.... You don't even understand what fixing naira means

You think you can just fix currency without backing to defend it?

Peter was the only one that gave a viable solution

The naira is affected by many factors
There are factors you attack short term, medium terms and the ones you attack long term

Short term solutions are
1) borrow money ( what do do with this is more important than borrowing)

2 )restructure our loans to reduce debt servicing

3)devalue the naira and then defend it

Medium

Solution is give 90% of that loan to business as a soft loan... It a complex and process I have talked about it

Look for investors preferably local investors to begin to mine n export raw materials

Work on foreign policies to make export simple

You will need burn 100 billion Naira a day to peg the Naira a 50 Naira to one dollar....where is your poor country going to get it from

If we the government can fix the refinery,Fix power and security, half of our problems is solved. The interplay of these key factors will attract foreign investors who will use their dollar to source more for our naira.Nigeria has the largest market in Africa, but high cost of production and insecurity has make it economically unsafe for investment.
We can possibly partner with foreign automobile and other heavy industrial company to set up an assembling plant here.
If the government can put this to effect this will not only crash the demand for dollar,it will also create employment opportunities and local producers will benefit by collaborating with the plants and also poach some talent and add to their rank.

Nigeria has the potential but our leaders are not ready to harness the potentials to achieve economic growth not to talk of development.

PaNnamdi:

What is the meaning of this nonsense picx.

A lady that is horrified by what she sees

PaNnamdi:

All those ones na long talk oga
Obi is a crazy and manipulative guy,even me as a full blooded Igbo man cannot and never fell for his tricks at his height of rave.

The solution to Naira is simple.FIX THE USD TO THE NAIRA at 1:1 and control the inflation that arises that's it.

It's all takes aggrement of the CBN and US federal reserves to do the job.this is only possible if we had a smart head as president but currently we have a sick head rather.

Some of you are not suppose to discuss this issue of naira and dollar because you don't know nothing about.
How do you fix usd to naira at 1:1?
Apart from crude oil n the meagre africa produce,what are you going to Exchange to defend the naira?

PaNnamdi:

All those ones na long talk oga
Obi is a crazy and manipulative guy,even me as a full blooded Igbo man cannot and never fell for his tricks at his height of rave.

The solution to Naira is simple.FIX THE USD TO THE NAIRA at 1:1 and control the inflation that arises that's it.

It's all takes aggrement of the CBN and US federal reserves to do the job.this is only possible if we had a smart head as president but currently we have a sick head rather.

Fixing the naira means that CBN would have to spend dollars, LOTS of dollars that it does not have, and has no hope of having...just to achieve pegging.

Plus Ghana , I think tried it. Did not work.

(Plus US reserve acts in US interest. They would be happy if the naira got weaker...)

The simple way to make the currency stronger is simple.....better tax revenue, fighting corruption and looting, diversifying our exports, and eventually becoming an exporter of manufactured goods and services. (Achieving the last goal will enable us play with the big boys)

Usmanovic95:
If we the government can fix the refinery,Fix power and security, half of our problems is solved. The interplay of these key factors will attract foreign investors who will use their dollar to source more for our naira.Nigeria has the largest market in Africa, but high cost of production and insecurity has make it economically unsafe for investment.
We can possibly partner with foreign automobile and other heavy industrial company to set up an assembling plant here.
If the government can put this to effect this will not only crash the demand for dollar,it will also create employment opportunities and local producers will benefit by collaborating with the plants and also poach some talent and add to their rank.

Nigeria has the potential but our leaders are not ready to harness the potentials to achieve economic growth not to talk of development.

The government can only fix refineries and power sector if it removes subsides and allows both sector to set the prices of what they are selling...which would attract foreign investment.

(To use an example from GSM, MTN won't have come into this country if government insisted on a call being one kobo a minute....).


As for security....our Police has a budget that is one tenth of what the NYPD uses to police one city..New York, New York, USA. Our Police has to look after 200 million people with a meagre budget. Unless government borrows money, the only way to make our police work well is to fund them well...which means improving our tax to gdp ratio short term.

SalamRushdie:
You will need burn 100 billion Naira a day to peg the Naira a 50 Naira to one dollar....where is your poor country going to get it from

Exactly.

Most people act as if pegging the naira to the dollar is just basically needing govt to 'say the magic word' and it would happen.

Hw can u fix d dollar rate? How?
U fix at N500, pple demand for say $100M/ day but u have just $20M/day.. hw do u manage that--- u start to ballot? U ban 43 items? Pple that don't need it but have CBN access then round-trip d $.

But if the rate goes to N1,000, demand falls to $40M but your supply is still $20M-- still a problem.

So it further goes to N1,500, demand possibly comes down to $20M which is then equal to your supply..
This is how the FX market works... pegging and all that is not economics-- it is balloting and FDI won't come that way.

StarRiderr:
Omo the best thing to every family in Nigeria is to contribute money and send one of thier family member abroad cause as it is now before December 1$ will become 3000naira mark my words today as I'm typing this now 100CFA is 190Naira ...CFA that was 100Naira to 350CFA during Jonathan's regimen the Country it's finished anybody believing Tinubu and APC propaganda is risking his or her mental health

I changed CFA 290naira to 1000CFA during Jonathan's government

mrvitalis:

How do you fix the naira when you can't defend it.... You don't even understand what fixing naira means

You think you can just fix currency without backing to defend it?

Peter was the only one that gave a viable solution

The naira is affected by many factors
There are factors you attack short term, medium terms and the ones you attack long term

Short term solutions are
1) borrow money ( what do do with this is more important than borrowing)

I thought we all crucified Buhari because of excessive borrowing. You and I knows one of the reasons was to defend the naira. Well I always say it. All politicians and Thier supporters are the same.

elvisgaga:
I thought we all crucified Buhari because of excessive borrowing. You and I knows one of the reasons was to defend the naira. Well I always say it. All politicians and Thier supporters are the same.

Borrowing was never the issue borrowing to build infrastructure was the issue

This was the key points between obi and osibanjo debate in 2019

PaNnamdi:

No amount of confidence will save the naira if those at the head refused to do the right thing.

Let one naira be fixed at one dollar or better still lets accept USD or crypto for payment in Nigeria.
That's the only solution.

This is exactly what I was telling my brother yesterday.
Accepting Bitcoin as official legal tender will help a lot, at least stabilize the economy so that we can figure this Naira issue.
El Salvador did something similar and a few years down the line, their economy is doing better.
This is a smart move, but it will take a lot of balls to pull off.

I was expecting to see commodification of the naira with cassava

PaNnamdi:

All those ones na long talk oga
Obi is a crazy and manipulative guy,even me as a full blooded Igbo man cannot and never fell for his tricks at his height of rave.

The solution to Naira is simple.FIX THE USD TO THE NAIRA at 1:1 and control the inflation that arises that's it.

It's all takes aggrement of the CBN and US federal reserves to do the job.this is only possible if we had a smart head as president but currently we have a sick head rather.

You are not igbo PaAjegulemamud

PaNnamdi:

That absolutely true. Naira is collapsing and morons are cheering on Tinubu

It's so pathetic.

Yoruba people criticized GEJ
Yoruba people poo and criticized Buhari
Now Yoruba people are pleading to all Nigerians to please have mercy on a Yoruba president Tinubu.
Tinubu has spent billions on Yoruba social media Influencers to support a propaganda campaign to support Tinubu

PaNnamdi:

All those ones na long talk oga
Obi is a crazy and manipulative guy,even me as a full blooded Igbo man cannot and never fell for his tricks at his height of rave.

The solution to Naira is simple.FIX THE USD TO THE NAIRA at 1:1 and control the inflation that arises that's it.

It's all takes aggrement of the CBN and US federal reserves to do the job.this is only possible if we had a smart head as president but currently we have a sick head rather.

In the case of Nigeria, pegging the naira to the US Dollar will not be the all conquering solution you think it will be.

The fundamental and structural problems that have beset the country and got progressively worse for at least 40 years will still be there.

Pegging the naira to USD may provide temporary relief, but it will create new problems and put us in a US Dollar straight-jacket where we will lose some of the flexibility we have as a country to address our fundamental economic problems.