So what else is new?

lexy2014:


how does defending the naira against the dollar mean that the government is "subsidizing the lifestyle of the majority of the wealthy"?

who are these "majority of the wealthy" you are referring to?

has not defending the naira made them poorer?

Are you not aware that majority of Nigerians are foolish? They believe any lies being churned out to them by politicians or their pastors. This forex lie is the same lie they sold on subsidy removal, that it only benefits the rich whereas the major beneficiaries of subsidy is the common man on the streeta who enjoys cheap fuel and reduced transportation costs which also keep prices of goods and services low. But how the government used propaganda to make some idiots believe subsidy only benefits the rich is what I don't understand, today that the subsidy has been removed ask yourself if you have fared better and how it has impacted you positively.
It's the same narrative for the dollar, with pegging of the exchange rate in an import dependent economy. The prices of goods being imported whether directly or indirectly are kept within our reach and populace can afford it thereby making our purchasing power good.
But today there is hyperinflation in the land on every goods and services food, egg,chicken just name it are all dependent on FX but some foolish ones are still saying they are ok because the government has spinned their usual propaganda that it only benefits the rich.
Honestly, Nigeria is full of low minded people. What they don't know is that the reverse is the case for the rich and the useless politicians they support, the more the naira depreciates the better the purchasing power of the rich who has stockpiled the dollar already. I also earn in FX and more dollar loses her value the better for me too but I just pity the poor ones who have been reduced to nothing.

Putindbutt:
As long as the President is no longer using about 2billion dollars to defend the naiqa everymonth, it is fine. let the market forces determine naira value and we must deemphasise our excessive demands on dollars by seeking alternatives.

This one just dey speak grammar wey him no even understand.

What market forces?!!

Let's face reality abeg...

As long as the nation is heavily dependent on imports (especially refined fuel), the demand for foreign currency will remain high, and the Naira value will continue to die.

You can't deemphasize (whatever this even means) a demand that is outside your control or influence.

Chispa:
Seunmsg
FreeStuffsNG
Abdul05
drlateef
AntiChristian
duro4chang
lhordspy
Moh247
Ayamed
WriterNG
Rashduct4luv
Lukuluku69
Biodun556
Expanse2020
BloomingDale
CoronaVirusPro
nlpolicewoman
mannabbqgreels
silvernorgold
Raskimonojendor
denreledave
ThatFairGuy1
N3TRAL
yarimo
Okoroawusa
LeoDeKing
Templarlandry
Helinues
God1000
You no dey Shame?

How was your idol worshipper yesterday

coputa:


NIGERIA is virtually a dumping ground for foreign products.

This is what I have been telling these moronic dreamers living on the false hope that Naira will appreciate.

And the CDS say make we no japa…. Say make we fight for the country. 😂😂😂😂

Chispa:
Seunmsg
FreeStuffsNG
Abdul05
drlateef
AntiChristian
duro4chang
lhordspy
Moh247
Ayamed
WriterNG
Rashduct4luv
Lukuluku69
Biodun556
Expanse2020
BloomingDale
CoronaVirusPro
nlpolicewoman
mannabbqgreels
silvernorgold
Raskimonojendor
denreledave
ThatFairGuy1
N3TRAL
yarimo
Okoroawusa
LeoDeKing
Templarlandry
Helinues
God1000
You no dey Shame?

These are the bots that has been bringing Seun down. I no dey hear from them like that again. 😂😂😂😂😂

JoeEeL:
SOME OF MY YORUBA PEOPLE ARE THE NEW HYPOCRITES. IMAGINE THIS HAPPENED UNDER THE RULERSHIP OF AN IGBO OR FULANI MAN?

WITH A CHANGE IN POWER COMES A NEW SET OF HYPOCRITES.

Under a Fulani man, they may just be grumbling!! But under an igbo man, they will migrate to ojota for protest! Awon werey

coputa:
This is not a matter of party; It's a systematic failure.

Lol
A good economy is not by luck. It's the result of intentional government policy.

But APC said it's a party thing na. They convinced foolish Nigerians that PDP was corrupt and if they get power one naira will equal one dollar.



After eight years of hopeless governance they again convince very foolish Nigerians that their hope can only be renewed if APC continues.

From N216 in 2015 dollar is now N1,233 and APC voters are defending it. Dem go explain taya?😅😅

Putindbutt:
As long as the President is no longer using about 2billion dollars to defend the naiqa everymonth, it is fine. let the market forces determine naira value and we must deemphasise our excessive demands on dollars by seeking alternatives.

callmevirus:
Nothing concern me but E dey mind

Peter Obi will never be the President of Nigeria

Dollar is 50naira/ 1 dollar here in Lasgidi

Its getting harder and harder and you are here wishing Nigeria not to progress because you dont want a man from another tribe ...shame on all you , the day he becomes president then jakpa to uganda ...oteh

Revolva:




Its getting harder and harder and you are here wishing Nigeria not to progress because you dont want a man from another tribe ...shame on all you , the day he becomes president then jakpa to uganda ...oteh

Yes it's getting harder and get more harder if care is not taking, you leave competence and you voted incompetence because of tribalism, now everyone is hearing weeeeeeeeeeei, you'll soon japa to Togo... Oteh

Sermwell:

Under a Fulani man, they may just be grumbling!! But under an igbo man, they will migrate to ojota for protest! Awon werey

Without hypocrisy, gbam, I agree.

socialmediaman:


@ Originalsly let’s revisit this your comment:

https://www.nairaland.com/7898416/jp-morgan-projects-n850-december/2#126762391

Ok... fair enough... and what is the current rate?.... few more days to year end?

coleon:

Are you not aware that majority of Nigerians are foolish? They believe any lies being churned out to them by politicians or their pastors. This forex lie is the same lie they sold on subsidy removal, that it only benefits the rich whereas the major beneficiaries of subsidy is the common man on the streeta who enjoys cheap fuel and reduced transportation costs which also keep prices of goods and services low. But how the government used propaganda to make some idiots believe subsidy only benefits the rich is what I don't understand, today that the subsidy has been removed ask yourself if you have fared better and how it has impacted you positively.
It's the same narrative for the dollar, with pegging of the exchange rate in an import dependent economy. The prices of goods being imported whether directly or indirectly are kept within our reach and populace can afford it thereby making our purchasing power good.
But today there is hyperinflation in the land on every goods and services food, egg,chicken just name it are all dependent on FX but some foolish ones are still saying they are ok because the government has spinned their usual propaganda that it only benefits the rich.
Honestly, Nigeria is full of low minded people. What they don't know is that the reverse is the case for the rich and the useless politicians they support, the more the naira depreciates the better the purchasing power of the rich who has stockpiled the dollar already. I also earn in FX and more dollar loses her value the better for me too but I just pity the poor ones who have been reduced to nothing.

God bless you.

The number of dumb people in Nigeria is outrageous,its sickening

SeeWahala:
He he he Let's all join hands and blame Peter obi for this wonderful feat

No I think the best blame should be GEJ... Cos we haven't blamed Jonathan enough... If we all join hands n blame Jonathan now.... Nigeria will begin to reap all the good works of Buhari+Tinubu🌝🌝🌝

Baba no send masses

All projections are in line

I sincerely hope that Nigerians are prepared for maximum and unprecedented shege in 2024 sha?

Whenever you pray, just make sure you're using the right words like "exemption", "exclusion", etc. As far as Nigeria is concerned, it will NEVER get better, but with the right principles and prayers, one can be excluded to an extent.

michlins:
As the government is no longer defending naira with $2bn monthly, where is the money diverted to?

$2bn is above ₦2trn monthly and in a year is ₦24trn which is enough to fund our budget yearly. Why do we need to borrow again bearing in mind that trillions are also saved from the subsidy removal.

Buhari said the same thing about TSA account and recovered loots but he ended up printing more Naira more than anyone else in history.


Is it that you forget these things or you choose to blindly accept these lies so as to solidify your resolve to support the government?

Let this sort of stupidity end this year please

Please tell that halfwit.

Basically we are not earning enough dollars for a nation out size.

A lot of people believe that we earn enough money. Till they realize that what we spend on the police in one year is not up to one quarter of the NYPD budget for policing just new York...then they go see.

Nigeria has always had a weak currency. Like most African countries. We don't earn enough dollars to buffer the naira because we rely on one source of income. Which is why I wonder why people voted for APC over and over again because their promise in 2015 of diversification was not and has not been met.

We are a poor nation with plenty of looting and Corruption making matters worse. The power sector and petrol sector are hobbled by subsides which prevent them from growing to a point where they would fuel industrial development. And we keep on relying on oil that is never where we want it, and we have a low tax to gdp ratio and we expect miracle?


Nigeria is not going to progress until we indistialize and export manufactured goods. Neither APC or PDP are not going to take us there, neither army rule, because Nigerians prefer their economy the way it is. And they don't want to change it. Better to believe we earn enough dollars. Lol.

michlins:
As the government is no longer defending naira with $2bn monthly, where is the money diverted to?

$2bn is above ₦2trn monthly and in a year is ₦24trn which is enough to fund our budget yearly. Why do we need to borrow again bearing in mind that trillions are also saved from the subsidy removal.

Buhari said the same thing about TSA account and recovered loots but he ended up printing more Naira more than anyone else in history.


Is it that you forget these things or you choose to blindly accept these lies so as to solidify your resolve to support the government?

Let this sort of stupidity end this year please

You made a brilliant point, but the cold reality is that Nigeria should be earning above 50 or more trillion annually in naira.

Why aren't we doing that? Inefficient government

Winneepye:
Dry bone shall rise again.

when they are United, United they stand, divided they rot in the grave.

Grace001:
Good for dollar $$ earner, we Dey cash out back to back

Omo which platform are u using to cashout....how is METAFORCE? i plan going it

Ykc2:
The same people that said buhari knew what he was doing when buhari was busy appointing only fulani people none them said anything when buhari printed 100 billion naira in secrecy, today they want to use that naira to buy dollars 😡meanwhile massacring of northern Christians continue soyinka or adeboye won't say pim 😡

TINUBU shld just arm these villagers.

Originalsly:


Ok... fair enough... and what is the current rate?.... few more days to year end?

A BDC operator in Lagos, Kamarudeen Ibrahim, said, “The naira traded at 1,220/$ a week earlier, but weakened to 1,233/$ by the end of the week.”

Trading commenced at the official market at N915/$ and reached a high of N1,248/$ before closing at N885.88.

Rise and fall while on its way up, as earlier predicted. Let’s just face it, nothing much will change from government, it’s all noise no action

callmevirus:



Yes it's getting harder and get more harder if care is not taking, you leave competence and you voted incompetence because of tribalism, now everyone is hearing weeeeeeeeeeei, you'll soon japa to Togo... Oteh

You're still deceiving yourself, majority of the people who won the election for Tinubu are not online and most definitely not on Nairaland. Until true opposition is able to reach these people una still DEY PLAY! Good or bad, these people will always pick the candidate that resonates most with them aka empty promises!

His guillible tribe men will still defend him...

I pray it won't get to 5k before 2027.