Today, it was not surprising to see breaking news regarding exchange rate value of the Naira been over N1400 to $1….. Many people supporting the rapid devaluation of our currency are making the argument about local export benefiting from a free fall of the Naira. These assertion is ill conceived as basic economics entails when compared to today’s realities. The infrastructural deficit as regards high cost of reliable electricity, transportation et al will erode any competitive advantage for local manufacturers.... Naira currency can not appreciate as long as our greedy politicians and cronies continue to loot, allocate huge allowances, travel uncontrollably wasting limited forex in the nation’s treasury, inaugurating duplicate unnecessary ministries, parastatals and public offices with a bloated expensive system of government......

Before the 2023 election, I had appealed to Nigerians on several public forums to boycott the election and agitate for a decentralized system of government by restructuring of our political landscape (See link to my post below). But unfortunately many Nigerians carried away by Peter Obi propaganda didn’t share this view so they decided to participate in the rigged election and here we are with the same evil APC government they vowed to vote out. The truth is that as long as the current crop of corrupt politicians are at the helm of affairs, Nigeria’s elections can never be fair…. So voting is only a waste of time. If truly we want to make a lasting positive change to the situation we face today, Nigeria must be restructured into a decentralized system of governance that protects the interests of each geopolitical regions (See link to my post below). It is only foolish that we continue to do the same thing and expect a different result. Personally I do not believe in advancing society through existence of democratic governments, I am a proponent of anarchism or voluntarism (organization of society on the basis of voluntary cooperation without centralized hierarchical government) but since Nigeria practices democracy there is need for restructuring toward a more decentralized system to restore peace, ensuring prosperity and justice for all.

When the Naira was 700 to a $1, many foolish people on Nairaland forum and within the country were foaming at the mouth, insulting other sensible Nigerians who spoke out against the dangers and criminality that plagued Tinubu's fraudulent presidential ascension and appointments. These people who are mostly of Yoruba descent spread hatred among other Nigerians especially igbos mocking and wishing that they die of pain over Peter Obi's loss at the presidential election, saying it was their turn to rule.... The usual nepotistic sentiments that installed Buhari as president, who led us to the terrible situation we are facing today....

We are now almost a year into Tinubu's presidency and Nigeria's economy may finally collapse as Naira continues its free fall (Now N1400 to $1) and outrageous surge continues in prices of goods and services. A hopeless situation where unemployment is on the rise, insecurity is on the rise, corruption and looting is on the rise, kidnapping is on the rise, terrorism is on the rise..... everything bad seem to be on the rise while Tinubu is busy cooking up propaganda, making nepotistic appointments, traveling and approving reckless foreign loans borrowing policies that will be looted (Continuing from where Buhari stopped).... Nigerians have never had it this bad since the creation of this country, there is no doubt that this APC government is bent on destroying what is left of Nigeria’s economy.

In 2012, when Jonathan's government removed subsidy, many Nigerians including Tinubu marched in protest and demanded an immediate reversal of the policy even though Jonathan's administration had a better plan for the country and naira was N180 to $1, today with the terrible state of the economy and existence of an incompetent, reckless and evil government, why have Nigerians decided not to hold this government accountable? Why have we decided to be docile and insensitive even to our own detriment?

As it stands, Nigeria’s economy may collapse totally before the end of this year if nothing is done to stop the astronomical rise in our currency value against dollar..... Since last year we were told by the government that Dangote and PH refineries are operational but till now no refined products from these refineries are available and petrol is still been imported with subsidy paid to the oil cabal…. The situation is now critical and all well-meaning Nigerians and patriots must rise and save this nation before it is too late.... We have no other country but Nigeria.... by the time dollar hits N2000, it is only a matter of time before total break down of law and order with criminals looting shops and killing people everywhere..... Nigerians must rise above tribal and religious sentiments..... we must demand for a restructuring of our political landscape before it is too late..... The criminal APC government filled with greedy politicians is incompetent and lacks any moral authority to provide economic reforms needed to salvage Nigeria’s economy. For Nairaland tribal champions who after reading my post and may want to attack, ask yourself Are you enjoying the fact that Naira is now N1400 to $1 and heading towards N2000? Are you enjoying the high cost of food and services? Fuel price will soon be increased again, are you okay with it? It is a shame that many of you are willing to destroy your country over tribal hatred and sentiments…. If you don’t learn from history then you will suffer the consequences when Tinubu and his gang of looters destroy what is left of our economy….. Your tribal hateful propaganda against Igbos and IPOB will not save you from the effects of the bad government….

Nigeria is doomed if we can’t unit against our political oppressors…. Nigeria is doomed if we can’t see beyond tribal and religious sentiments…..


When all is said and done, it will be Nigerians that will bear the consequences of APC evil government....

https://www.nairaland.com/7578573/take-tinubu-atiku-obi-sowore

https://www.nairaland.com/7591199/2023-election-why-nigeria-must

Kai, I too hurry change that $1k yesterday..

My 2k prediction before this year ends seems to be on course quicker than I predicted.

Just prepare for Hunger! The dollar is destined for N2000, my initial projection of N1500 is now likely to be hit in Q1.

Where are those who were singing on your mandate we shall stand…. Where is helinus…. Where is omenka, yoruboid and other betrayers who shamelessly supported this disastrous government during the election period…. The chickens have come home to roost….

gaby:
Kai, I too hurry change that $1k yesterday..

My 2k prediction before this year ends seems to be on course quicker than I predicted.

E no dey collapse, they know what they are doing

LegendHero

How far?

Since you're not in Nigeria, your people still standing on the mandate thief, certificate forger and criminal drug baron mandate?

Bebigiby1:


Nigeria is doomed if we can’t unit against our political oppressors…. Nigeria is doomed if we can’t see beyond tribal and religious sentiments…..


When all is said and done, it will be Nigerians that will bear the consequences of APC evil government....

https://www.nairaland.com/7578573/take-tinubu-atiku-obi-sowore

https://www.nairaland.com/7591199/2023-election-why-nigeria-must

See in Nigerian politics I've learnt that we CANNOT DO AWAY WITH TRIBAL AND RELIGIOUS SENTIMENTS...... which in itself is not a bad thing.
WHAT WE NEED IS STRONG NATIONAL INSTITUTIONS THAT WILL ENSURE EQUITY AND JUSTICE.

All over the world ....the strong always rule over the weak. The tribes with the largest population and influence will always lord it over those with less power and influence.

There are over 200tribes in Nigeria .....99% of those tribes MAY never taste power at the centre ....... Nigeria will almost always be led by someone from the 1st to 5th largest tribes.
Like someone from a minority tribe during elections.... The battle is between the three major tribes. Fortunately a yorubaman won.....it could have gone to any of the three

The reality on ground concerning the plummeting of the naira only goes to show that the economic policies of this administration is not addressing the variables responsible for the woes of the naira.

The CBN seems to have totally lost control of its core mandate and resigned itself to churning out propaganda like the rest of government agencies.

Borrowing seem to be the buzz word of the Asiwaju led government which is worsening our economic malady and recovery.

Only the reset button can save Nigeria as things stand.

God have mercy "uponus"

We can’t have strong national institutions because just as you said many Nigerians are hopelessly tribalistic and religious…..

Nigeria's root problem is foundational and not political. Due to the demographics, we are people who uphold our ethnic, tribal and religious affinities above national identity and ideologies. If nothing else proves my assertion I believe the lingering injustice on Nnamdi Kanu, Biafra agitation, Niger delta agitation and the Fulani herdsmen bloody pogrom validates it. What we need is justice for the country to heal there so much oppression and injustice in Nigeria. I believe we can achieve this through restructuring.

For peace to reign and to keep Nigeria as one prosperous nation, we need a new decentralized system of government. I hope and wish that Nigerians will push for restructuring instead of waiting for 2027 to participate in another rigged election that will bring back our oppressors….. Time is running out for Nigeria…..

Rolings:


See in Nigerian politics I've learnt that we CANNOT DO AWAY WITH TRIBAL AND RELIGIOUS SENTIMENTS...... which in itself is not a bad thing.
WHAT WE NEED IS STRONG NATIONAL INSTITUTIONS THAT WILL ENSURE EQUITY AND JUSTICE.

All over the world ....the strong always rule over the weak. The tribes with the largest population and influence will always lord it over those with less power and influence.

There are over 200tribes in Nigeria .....99% of those tribes MAY never taste power at the centre ....... Nigeria will almost always be led by someone from the 1st to 5th largest tribes.
Like someone from a minority tribe during elections.... The battle is between the three major tribes. Fortunately a yorubaman won.....it could have gone to any of the three

Bebigiby1:
We can’t have strong national institutions in because just as you said many Nigerians are hopelessly tribalist and religious…..

Nigeria's root problem is foundational and not political. Due to the demographics, we are people who uphold our ethnic, tribal and religious affinities above national identity and ideologies. If nothing else proves my assertion I believe the lingering injustice on Nnamdi Kanu, Biafra agitation, Niger delta agitation and the Fulani herdsmen bloody pogrom validates it. What we need is justice for the country to heal there so much oppression and injustice in Nigeria. I believe we can achieve this through restructuring.

For justice to reign and to keep Nigeria as one nation, we need a new decentralized system of government. I hope and wish that Nigerians will push for restructuring instead waiting for 2027 to participate in another rigged election that will bring back our oppressors….. Time is running out for Nigeria…..

You know "restructuring" means different things to different people.
It could also mean devolution of more power to federation units like state policing and control of some natural resources
Or
Making the country a parliamentary system rather than the presidential system we currently run
Or
Returning to the regional system.

Let's be clear...... What do we mean by restructuring

Bebigiby1:
Why are those who were singing on your mandate we shall stand…. Where is helinus…. Where is omenka, yoruboid and other betrayers who shamelessly supported this disastrous government during the election period…. The chickens have come home to roost….

They can't change my dear. Even if naira collapse to 3000 naira per dollar. They will blame it on pdp, lp and on their ancestors. Those guys have no hope. They have sold their soul. So don't expect them to have a rational thinking. Never

gaby:
Kai, I too hurry change that $1k yesterday..

My 2k prediction before this year ends seems to be on course quicker than I predicted.

If you like change it next year, it's still the same value of naira you will get cos prices will automatically adjust also.

PlanetZero:


They can't change my dear. Even if naira collapse to 3000 naira per dollar. They will blame it on pdp, lp and on their ancestors. Those guys have no hope. They have sold their soul. So don't expect them to have a rational thinking. Never

One.of.them.is above there chatting shit and deflecting from the topic.
Evil people who are suffering and smiling.

Witchcraft and sufferhead join together.
God forbid bad thing

To be clear in my opinion I will prefer a decentralized system of government where states are made autonomous and control its security (State Police) and revenues from state natural resources (100%) with no Federal influence but will remit an agreed amount as tax to Federal not how it is been done now that Federal takes all and shares it. If this is not feasible, I am also open to going back to people backed regional government system that will reflect equity. The truth is that current centralized system of democratic government we are running can not and will not benefit us as I said earlier many Nigerians are easily manipulated and weakened by the ruling class due to tribal and religious sentiments…. You can see how many Yorubas in this forum shamelessly defended a drug criminal who was proven to have forged school certificates to become president knowing the damage it will cause the nation…. that’s how tribalistic many Nigerians are.

Rolings:


You know "restructuring" means different things to different people.
It could also mean devolution of more power to federation units like state policing and control of some natural resources
Or
Making the country a parliamentary system rather than the presidential system we currently run
Or
Returning to the regional system.

Let's be clear...... What do we mean by restructuring

The free fall is the worst I've ever seen for any currency all my life.
like how can a currency be dropping with an average of 50 naira daily?
even throughout buhari time it was never like this.
The problem is expensive governance and rapid looting because theoretically naira supposed to be strengthened with subsidy removal and naira floating.
but guess what the dollars saved is been lavished by Tinubu and his cronies while Nigeria suffers more.
I asked myself why did he removed subsidy at the first place?
Nigeria now pays more on petrol and also pay more for basic feeding so what's the need?
This was the reason We campaigned and voted Obi because by now every single dollar would have been counted for and political positions will be unattractive because you'll account for every single penny you spent.
These politicians understand the kind of personality Obi is that's why they fought him tooth and nail.
Well Nigeria is not ready for real change because when we're ready we'll know how much Apc have buried Nigeria.

Bebigiby1:
To be clear in my opinion I will prefer a decentralized system of government where states are made autonomous and control its security (State Police) and revenues natural resources (100%) with no Federal influence but will remit an agreed amount as tax to Federal not how it is been done now that Federal takes all and shares it. If this is not feasible, I am also open to going back to people backed regional government system that will reflect equity. The truth is that current centralized system of democratic government we are running can not and will not benefit us as I said earlier many Nigerians are easily manipulated and weakened by the ruling class due to tribal and religious sentiments…. You can see how many Yorubas in this forum shamelessly defended a drug criminal who was proven to have forged school certificates to become president knowing the damage it will cause the nation that’s how tribalistic Nigerians are.

Forget restructuring, it will never happen. Nigeria was restructured to confederation level at Aburi, they came back, rejected it, fought civil war so as to make it as unitary as they could.

The North will never agree for Nigeria to be restructured because that will take away their political stranglehold of Nigeria, and they will never let that happen

The only alternative is disintegration, let everyone go their way and go restructure themselves how they like

arantess:

One.of.them.is above there chatting shit and deflecting from the topic.
Evil people who are suffering and smiling.

Witchcraft and sufferhead join together.
God forbid bad thing

It's a demonic oppression

One of them I know physically once told me that kidnapping is good but they can't near the president. Imagine wishing his own people evil. I no dey argue with them. When they see black they call it white and full of anger, hatred and insults

PlanetZero:


It's a demonic oppression

One of them I know physically once told me that kidnapping is good but they can't near the president. Imagine wishing his own people evil. I no dey argue with them. When they see black they call it white and full of anger, hatred and insults

Can you imagine!?

We seem to be heading for that inevitable breaking point at the speed of light. Something's gonna give, sooner or later.

If you are a Nigerian who earns in foreign currency, you must be living the best times of your life! Thanks to the worst of us leading this country.

Your currency has lost over 900% of its value but you are still saying it's at the brim of collapse, hope this is not sponsored by CBN. Lord have mercy.



Tinubu, a bad man with good intentions.

Call Tinubu na, abi una no know who to call again 🤓
GEJ name was so cheap & easy for una mouth, even una Prof of cult invention no get gramma again to spew🙄

Venezuela.... gradually cropping in!

Bebigiby1:
Today, it was not surprising to see breaking news regarding exchange rate value of the Naira been over N1400 to $1….. Many people supporting the rapid devaluation of our currency are making the argument about local export benefiting from a free fall of the Naira. These assertion is ill conceived as basic economics entails when compared to today’s realities. The infrastructural deficit as regards high cost of reliable electricity, transportation et al will erode any competitive advantage for local manufacturers.... Naira currency can not appreciate as long as our greedy politicians and cronies continue to loot, allocate huge allowances, travel uncontrollably wasting limited forex in the nation’s treasury, inaugurating duplicate unnecessary ministries, parastatals and public offices with a bloated expensive system of government......

Before the 2023 election, I had appealed to Nigerians on several public forums to boycott the election and agitate for a decentralized system of government by restructuring of our political landscape (See link to my post below). But unfortunately many Nigerians carried away by Peter Obi propaganda didn’t share this view so they decided to participate in the rigged election and here we are with the same evil APC government they vowed to vote out. The truth is that as long as the current crop of corrupt politicians are at the helm of affairs, Nigeria’s elections can never be fair…. So voting is only a waste of time. If truly we want to make a lasting positive change to the situation we face today, Nigeria must be restructured into a decentralized system of governance that protects the interests of each geopolitical regions (See link to my post below). It is only foolish that we continue to do the same thing and expect a different result. Personally I do not believe in advancing society through existence of democratic governments, I am a proponent of anarchism or voluntarism (organization of society on the basis of voluntary cooperation without centralized hierarchical government) but since Nigeria practices democracy there is need for restructuring toward a more decentralized system to restore peace, ensuring prosperity and justice for all.

When the Naira was 700 to a $1, many foolish people on Nairaland forum and within the country were foaming at the mouth, insulting other sensible Nigerians who spoke out against the dangers and criminality that plagued Tinubu's fraudulent presidential ascension and appointments. These people who are mostly of Yoruba descent spread hatred among other Nigerians especially igbos mocking and wishing that they die of pain over Peter Obi's loss at the presidential election, saying it was their turn to rule.... The usual nepotistic sentiments that installed Buhari as president, who led us to the terrible situation we are facing today....

We are now almost a year into Tinubu's presidency and Nigeria's economy may finally collapse as Naira continues its free fall (Now N1400 to $1) and outrageous surge continues in prices of goods and services. A hopeless situation where unemployment is on the rise, insecurity is on the rise, corruption and looting is on the rise, kidnapping is on the rise, terrorism is on the rise..... everything bad seem to be on the rise while Tinubu is busy cooking up propaganda, making nepotistic appointments, traveling and approving reckless foreign loans borrowing policies that will be looted (Continuing from where Buhari stopped).... Nigerians have never had it this bad since the creation of this country, there is no doubt that this APC government is bent on destroying what is left of Nigeria’s economy.

In 2012, when Jonathan's government removed subsidy, many Nigerians including Tinubu marched in protest and demanded an immediate reversal of the policy even though Jonathan's administration had a better plan for the country and naira was N180 to $1, today with the terrible state of the economy and existence of an incompetent, reckless and evil government, why have Nigerians decided not to hold this government accountable? Why have we decided to be docile and insensitive even to our own detriment?

As it stands, Nigeria’s economy may collapse totally before the end of this year if nothing is done to stop the astronomical rise in our currency value against dollar..... Since last year we were told by the government that Dangote and PH refineries are operational but till now no refined products from these refineries are available and petrol is still been imported with subsidy paid to the oil cabal…. The situation is now critical and all well-meaning Nigerians and patriots must rise and save this nation before it is too late.... We have no other country but Nigeria.... by the time dollar hits N2000, it is only a matter of time before total break down of law and order with criminals looting shops and killing people everywhere..... Nigerians must rise above tribal and religious sentiments..... we must demand for a restructuring of our political landscape before it is too late..... The criminal APC government filled with greedy politicians is incompetent and lacks any moral authority to provide economic reforms needed to salvage Nigeria’s economy. For Nairaland tribal champions who after reading my post and may want to attack, ask yourself Are you enjoying the fact that Naira is now N1400 to $1 and heading towards N2000? Are you enjoying the high cost of food and services? Fuel price will soon be increased again, are you okay with it? It is a shame that many of you are willing to destroy your country over tribal hatred and sentiments…. If you don’t learn from history then you will suffer the consequences when Tinubu and his gang of looters destroy what is left of our economy….. Your tribal hateful propaganda against Igbos and IPOB will not save you from the effects of the bad government….

Nigeria is doomed if we can’t unit against our political oppressors…. Nigeria is doomed if we can’t see beyond tribal and religious sentiments…..


When all is said and done, it will be Nigerians that will bear the consequences of APC evil government....

https://www.nairaland.com/7578573/take-tinubu-atiku-obi-sowore

https://www.nairaland.com/7591199/2023-election-why-nigeria-must

It's witchcraft and sufferhead indeed!

PlanetZero:


It's a demonic oppression

One of them I know physically once told me that kidnapping is good but they can't near the president. Imagine wishing his own people evil. I no dey argue with them. When they see black they call it white and full of anger, hatred and insults

The only set of people that are happy at the tribulation and predicament of his nation is Ibo


God have mercy on Nigerians

Tinubu Is Busy enjoying in Paris

A dollar to South Korea won is 1,339 won. Is Korea economy on the brinks of total collapse?

Korean economy experienced the same thing we are going through but they focused on production and citizens welfare. The reason they are very rich.

Besides, Korea focused on patronizing their own products before any other. Can we say the same thing?

Instead, you want to buy Italian shoe instead of Aba and Kano made shoes. You want to buy Ghana adire instead of Abeokuta Adire. You want to drive Japanese cars instead of Innoson and Nord cars and you're expecting your economy to grow.

Jonathan was Clueless ,see people when get clue onboard.. Ahahahaha

Jonathan is a woman, una don see men now

It will not collapse.....God will not let us suffer for d mistake of others....we know about Buharis n we warned them, we also told them about Tinubu n we warned them....

forgiveness:
A dollar to South Korea won is 1,339 won. Is Korea economy on the brinks of total collapse?

Korean economy experienced the same thing we are going through but they focused on production and citizens welfare. The reason they are very rich.

Besides, Korea focused on patronizing their own products before any other. Can we say the same thing?

Instead, you want to buy Italian shoe instead of Aba and Kano made shoes. You want to buy Ghana adire instead of Abeokuta Adire. You want to drive Japanese cars instead of Innoson and Nord cars and you're expecting your economy to grow.

your comments is the best so far.you said it all

1$ is like 1350 won in korea and they have one of the best stable economy in asia.

I think naira devaluation can benefit Nigeria greatly if we play it well but we just don't have many establishment that can earn us a lot of forex. Dangote refinery is going to take at least 6 months to fully come on board and see its benefit