SalamRushdie:
No magic will make the Naira gain as it is now except we earn upto 300 billion dollars and that's not going to happen..the Naira will cross 2000 before the end of Tinubus first tenure

Tell them oo

kcprince:

They run to IMF we run to china , African development bank, world bank. In fact we even seek bailout to fund palliative and buy SUV’s for serving members of rep.

Do you know ghana

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

If we stop importing fuel and start refinning fuel it wont affect the fall of the naira.

Ikaeniyan0:
Are we running to them for bailout?

A lot of you just love reasoning upside down abeg

I knew you will move to insults as you have nothing to say anymore. We borrow to even support our currency and you are accusing Ghana about bailout .

culeca:
You will not understand sha

funny enough is, a dollar remains a dollar whether it rises or falls long as you’re spending in dollar but naira at the moment isn’t the same so it’s better you just try as much as you can to keep buying the dollar cus it’ll be worthwhile in the long run.

Yourprick:
bro understand the post, look at our highest import, what happens when we stop importing petroleum products? Our problem is too much imports and petroleum up there has the highest percentage

WHEN IS THAT?

kcprince:


I knew you will move to insults as you have nothing to say anymore. We borrow to even support our currency and you are accusing Ghana about bailout .

It's an insult to be comparing Nigeria with Ghana that had to suspend paying her external debt

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

Didn't you read that NNPCL has issues allocating crude oil to dangote and he had to buy from oil traders

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

As long as there is bad governance and money politics, Naira will continue losing value against the Dollar.

It's just a matter of time and we may get to #1,500

This isn't just about fuel importation or refinery Sir.

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the[b] fg promised a refinery in December[/b], what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

Because Nigerians have sense. They don't plan their tomorrow based on what polithiefcians promise.

In 2002, dollar was around 110 Naira. In 2014 dollar was around 175 Naira. And today it is over 1200. Now you have one of the biggest traders with narcotics as oga at the top so what do you expect? Do you expect him to achieve $1=1N? LOL

pendusky:


Which year has the naira gained before when e crashed

Pay no mind to him. He just asked a hypothetical question. He already knows the answer to his question. Let us stop deceiving ourselves and even being delusional in this Country.

Because we have a President that forged his First degree in Accounting certificate

Looks like Op is not a Nigerian

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

They believe that what goes up in Nigeria can never come down. So buying and saving in dollars is a win win to them.

Ikaeniyan0:
look at the billions of dollars we spent importing refined petroleum last year 🙆

When the Dangote and PH refinery start working, it will really relieve pressure on the naira.

I really pray the refinery will work

I pray the refinery will not spell higher domestic fuel prices. Dangote has a history of selling his monopolised products at extremely high prices.

For this country, dollars will never come down, until we reduce importation and invest more energy in exportation

Ikaeniyan0:
It's an insult to be comparing Nigeria with Ghana that had to suspend paying her external debt

Today our country have no reserve anymore becasue we used our reserve to borrow money and you are accusing Ghana of taking bailout . It seems you are oblivious to the state of our economy . Take time today to update yourself.

Ikaeniyan0:
look at the billions of dollars we spent importing refined petroleum last year 🙆

When the Dangote and PH refinery start working, it will really relieve pressure on the naira.

I really pray the refinery will work

It's surprising to see those huge amounts we spend on importation.

We need to diversify and start with agricultural exportation. It's the quick and best options at the moment

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

Because the coountry is dead

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

We are also importing education greatly

BECAUSE THEY CHOOSE THE WAY OF BEING SLAVE TO DOLLARS

For you to rely one fg promise of running a refinery in December, shows you believe the government.


Nigeria is not capable of running the Operation of a refinery successfully, except it is privatized.

culeca:
You will not understand sha

I regret being a Nigerian, it's so berating and I have agreed to marry my Portuguese online girlfriend with stringent clauses attached. As a gateway to escape the doom that will befall this despicable corrupt entity called zoogeria. I would miss nairaland when I travel out. I would miss you all, you all have been just like a family. I have never envisaged marrying and sticking to one woman all my life! I prefer varieties as the spices of life but I have to abide to that marital clause now just because Nigeria failed me and I need greener pastures in Portugal.

Dollar too will soon crash!

But before it crashes one can buy, safe & closely monitor the trend especially in the light of digitalization of currencies.

Saving in cryptocurencies may be another good option.

pendusky:


Which year has the naira gained before when e crashed

2016/17.

MadamExcellency:
Anyone telling you that Naira is crashing due to importation is lying to you. Why is the US Dollar not crashing to the Chinese Yuan?

It is crashing because Nigerians lack confidence in their government and country.

It is crashing because of a lack of effective policy implementation.

It is crashing because every family wants to send one or more of their children abroad.

It is crashing because we have more bad guys in leadership positions who know how to follow shortcuts and evade punishment.

Finally, it is crashing because of the lack of credibility of the President.

It is crashing also because the federal government is not practicing True Federalism.

Most states in Nigeria can leverage on mechanized farming or Agriculture but they prefer the stipends from crude oil.

The high cost of governance brought about by the expensive presidential system in Nigeria is also at a cut throat cost to tax payer

Acidosis:


After "subsidy removal"? After fuel consumption dropped by over 30%?

U clearly don't understand the whole subsidy thing.

Dollar will crash 💥 and that would only be normal. Let’s have this conversation in 3 to 4 months.
Any one buying dollar now is a grave mistake.
Don’t sell your properties or store Fx it would crash.

So you go dey put hope for December refinery wey dem don already talk say e never dey sure.

FG should ban BDC and other black market outlets.

Anyone caught buying or selling USD in the black market should be jailed and his/her money seized.

Only commercial banks should be allowed to transact such business with importers.

Anyone found hoarding USD should be prosecuted.

It's simple. This is what happens before hyperinflation. Pple lose complete trust in their fiat.

Whalis:
Things in Nigeria defy that law of gravity. Once it is up it can only plateau and there after continue in upward trend.
Even our leaders won't allow it to come down because they are the major hoarders of foreign currency.

You haven't read about Dow theory, the dollar is already at the plateau.
Hoarders will not see it coming, I'm saying this because I know that currency speculator will exhaust their naira muscles before the government will intervene, and so they won't have enough naira, to mop up the dollar as they've always do. and so dollar will be on a free fall.
Instead of hoarding, the stupid hoarders should be selling, " no one buys into resistance", they won't see it coming.
Mind you these hoarders are playing against Jagaban o, a man of stoch market experience.
As a trader you can't continue to buy, you must sell as well, this is what Nigerian hoarders don't understand.
I hope it won't be too late when they want to sell.