Because the criminals overprinted the naira and are trying to change their stolen loot to dollar.

Too many naira chasing the dollar.

creativehubb:

Compare our production/import ratio to those nations you mention, and compare our population to them...we import everything from food to raw materials, to wines and spirits, to medicines, weapons, liquor, beer, we import almost 80% of what we use in Nigeria.

They do worse..

Our population may be huge, but majority of us a poor and can’t buy foreign goods..

So our import of basic stuffs is even too small when compared to some smaller countries..

LikeAking:


They do worse..

Our population may be huge, but majority of us a poor and can’t buy foreign goods..

So our import of basic stuffs is even too small when compared to some smaller countries..

Nigerians have more purchasing power than those nations, our alcohol consumption alone is much more than all those nations combined.

DOLLAR IS SERIOUSLY SQUATTING IN NIGERIA AND HARASSING NAIRA OUT OF CIRCULATION.

CodeTemplar:
How did the greedy Nigerians lay hold of these dollars? Through witchcraft?

Govt doesn't have enough of something(dollar) yet wants to sell it low and expect those who can't buy from govt not to seek alternatives(black market). The govt is trying to dictate going rate of what is not in their hands. That's worse than subsidy. It is robbery in principle.

Same way they've been trying to keep petrol at 600 and those idiats too just dey sell wetin Dem like

Ano even know how this man convinced some of these mumus sef🤔