ogododo:
Make una wake me when it don become N1 to $1.

Judolisco:
We pray for better days... Some people are happy with dis news.... How bad news go dey give people joy?

tola268:
Naira depreciation is one of the backbone of economy truncated. At this time, our government should work towards of having creators instead of investors. Our sons and daughters have knowledge of creativity, they can create many things that will improve our economy. The problem we have in Nigeria is that we don't recon with our own, we value foreign things and ideas more than our own whereas those foreign people make use of our children knowledge to improve their economy

jmoore:

You are a true patriot. 1 dollar will be sold at 200 naira next week.

Ikaeniyan0:
It will strengthen against the dollar next week

zombieHUNTER:


Tinubu's destiny is to bury the country in poverty and hardship while being cheered on by Yoruba Muslims...


Brace yourself Nigerians..

" Na statistics una go chop"

kettykin:
This makes Bloomberg forecast more scary. I am yet to hear anything about dangote refinery and the much trumped up turn around of port Harcourt refinery.

I am now fully convinced God wants to disgrace a demagogue in power for his boats, blasphemous tendencies and his obstruction of the will of God over Nigeria.

Eastern Nigeria, time to create and economic region independent of the comedy happening in Niger same way white south Africa is running am independent African economy in South Africa

kettykin:
This makes Bloomberg forecast more scary. I am yet to hear anything about dangote refinery and the much trumped up turn around of port Harcourt refinery.

I am now fully convinced God wants to disgrace a demagogue in power for his boats, blasphemous tendencies and his obstruction of the will of God over Nigeria.

Eastern Nigeria, time to create and economic region independent of the comedy happening in Niger same way white south Africa is running am independent African economy in South Africa

zombieHUNTER:


He never denied his identity..

We have a guy here who said same like you
only to open a thread lamenting how things are getting out of hand in the country.


you are not the first fool on social media..

tensazangetsu20:


Who told you that peter obi is the Will of God for Nigeria. If elections are held after two years tinubu will win without riggings.

tensazangetsu20:


Who told you that peter obi is the Will of God for Nigeria. If elections are held after two years tinubu will win without riggings.

kettykin:
This makes Bloomberg forecast more scary. I am yet to hear anything about dangote refinery and the much trumped up turn around of port Harcourt refinery.

I am now fully convinced God wants to disgrace a demagogue in power for his boats, blasphemous tendencies and his obstruction of the will of God over Nigeria.

Eastern Nigeria, time to create and economic region independent of the comedy happening in Niger same way white south Africa is running am independent African economy in South Africa

ogododo:
Naira depreciated to the worst low in recent times exchanging at N1,043.09 to the dollar at the official foreign exchange market on Thursday.

This is against N872.59 /$ recorded on Wednesday at the Nigerian Autonomous Foreign Exchange Market (NAFEM).


According to dealers, the rate was stronger than N885.88/$ quoted on Friday before the Christmas holidays.


Data from the FMDQ showed that dollar supply increased by 38.81 percent to $127.93 million on Wednesday from $92.16 million recorded on Friday.


Southwest Govs plan joint committee for Akeredolu’s burial
Ondo: Tinubu intervenes as jostling for Aiyedatiwa’s deputy hots up
The dollar was supplied by willing buyers and willing sellers who participated in the FX auction at NAFEM.

They quoted the dollar at N1,235.65 on the spot trading, stronger than $1,248 quoted on Friday. For the lower spot rate, the dollar traded for N740, weaker than N700 on Friday.

Data from the FMDQ showed that dollar supply increased by 38.81 percent to $127.93 million on Wednesday from $92.16 million recorded on Friday.
Naira has been rated among the world’s worst performing currencies in 2023.

This is coming on the heels of Bloomberg’s latest report that naira is poised for its worst year since the return to democracy in 1999, with analysts predicting further depreciation in 2024.


https://dailytrust.com/naira-crashes-to-all-time-low-hits-n1043-09-1-at-official-market/

Abufo:




The Tinubu governement is fast running out of forex options............The 3 billion dollars they borrowed from Afrexim bank will not last past January! They have virtually no control over remitted forex.............I foresee the government seizing control of domiciliary accounts of depositors, that is the only source of forex still available to the ruling and thieving class........they are bound to do so to prevent a precipitous collapse of the naira! Lebanon and venezuela did the same thing too.........ee don red for the zoo!

sonnie10:

Almost all the dollar you hear about are all gotten by exchanging something, in the case of Nigeria, crude oil.
So the amount of dollar you would have depend. on the amount of crude oil you are able to export.

Now let’s assume the federal government made a total of $X amount from selling crude in 2023, used 50% of that to service debt, used 30% for budget allocation and 20% for running the 3 arms of government, the money wouldn’t even be enough. That why Nigeria always have budget deficit instead of surplus like some other countries.
Now you see, that there is nothing left.That is why they go about looking for where to borrow. Borrowing means more interest to pay. This cuts into the little dollar Nigeria was making in the first place. Back to your question. You cannot control what you don’t have. Remember that some debt instruments are obligations. There is nowhere the FG will meet those obligations if dollar they have from other sources ( direct foreign investment, more borrowing, and other export, foreign remittance) is set too low against the naira. Another name for this is Default.
When a country defaults, investors avoid them because they won’t be able to pay debts.

kettykin:


Eastern Nigeria, time to create and economic region independent of the comedy happening in Niger same way white south Africa is running am independent African economy in South Africa

tensazangetsu20:


Who told you that peter obi is the Will of God for Nigeria. If elections are held after two years tinubu will win without riggings.

Achor1111:
Jagaban is working

Judolisco:
We pray for better days... Some people are happy with dis news.... How bad news go dey give people joy?

tensazangetsu20:


Who told you that peter obi is the Will of God for Nigeria. If elections are held after two years tinubu will win without riggings.

jmoore:

You are a true patriot. 1 dollar will be sold at 200 naira next week.

kettykin:
This makes Bloomberg forecast more scary. I am yet to hear anything about dangote refinery and the much trumped up turn around of port Harcourt refinery.

I am now fully convinced God wants to disgrace a demagogue in power for his boats, blasphemous tendencies and his obstruction of the will of God over Nigeria.

Eastern Nigeria, time to create and economic region independent of the comedy happening in Niger same way white south Africa is running am independent African economy in South Africa

Ikaeniyan0:
Afrexim bank $3 billion loan will be gotten next week

omowolewa:


Dangote is about to start cooking the first batch of crude but that's not what is giving the Naira High blood pressures

It's our tastes for foreign goods and services.

Boldideas:
If the CBN begs official rate at N200 what exactly will happen? I want to know if am being stupid or the wickedness of Nigerian governments needs a revolution?

kettykin:
This makes Bloomberg forecast more scary. I am yet to hear anything about dangote refinery and the much trumped up turn around of port Harcourt refinery.

I am now fully convinced God wants to disgrace a demagogue in power for his boats, blasphemous tendencies and his obstruction of the will of God over Nigeria.

Eastern Nigeria, time to create and economic region independent of the comedy happening in Niger same way white south Africa is running am independent African economy in South Africa