Things have reached a worrying dimension

grandstar:
Things have reached a worrying dimension

Not yet komurade.

Don't let us to be too forward.

Let us patiently wait for it to reach N2000 to $1. Then we can start preparing to get worried

CoronaVirusPro:


Elections are over!

Move-on!

Hypocrite, blame ur tinubu that doesnt know his right from his left. Who is talking about elections here? Politics is not governance

Tntsi:
Despite the release of half a billion us dollars, the naira continues to crash.

I said here few months that even if tinubu hires angels in this land desecrating mandate, nothing good will come out.

With the way it is now, dollar will hit 2000.
It might even cross over to the year figure digits of 2024.

Tinubu is operating on a cursed mandate. His criminal desecrating desperation mandate has brought dearth on the land.

If Tinubu is patriotic, himself and shettima will resign and run away.

You lack wisdom and common sense.

grandstar:
Things have reached a worrying dimension

you think so?

All looks normal to me. Lol

They are probably chasing the illusion called "equilibrium" in economics. If so, they've certainly withdrawn to textbook economic theories which have little or nothing to do with reality.

This is why Mr. Noam Chomsky often joke that people didn't read beyond chapter one of Adam Smith's wealth of nations, cause Smith warned in the later part of the book about the downside of his economic thoughts (he never called it theory) others later called it theory.

But Smith said that everything he proposed is PECULIAR; example to a given place, time, culture, situation, weather, etc. Yet, these theories have nothing to do with us. They were developed by Europeans in their quest to solve their PECULIAR problem, so they're not meant for you to copy and apply in African soil because it would achieve a different result here.

In our PECULIAR Nigerian situation, you can never reach any equilibrium, as long as there's corruption in Nigeria.

If they like they should go ahead and make the Naira N2,000/$1. There'll always be black market as long as there's corruption in Nigeria.

Do you still believe the naira is still being floated, it's obvious it isn't, the govt just playing with people's intelligence.
I believe this people are running a feudalism type of government

Tsolutionifede:
ur prayer for dwindling economy is not affecting Tinubu. But u and ur family

No one is praying

Rather, it is evidence of the fact that we warned that Tinubu was going to turn out to be a disaster.

Tinubu had absolutely nothing to offer.

Anunakeeh:


Not yet.

Don't let us to be too forward.

Let us wait for it to reach N2000 to $1. Then we can start preparing to get worried

eggzactly!

Nemere2020:


https://nairametrics.com/2024/01/29/naira-hits-record-low-of-n1348-63-1-at-the-official-market/?amp=1

Shege pro max loading, next time una go use una sense select leaders nor be by tribe or religion

Zidoh:
Many people will be shocked on how Naira will gain strength and gradually we will get back to our feet. It's be long waiting and we give thanks to our able president Tinubu for the strong decision and the good people of Nigeria for their patient .

shut up your smelling mouth keep ranting gibberish

Anunakeeh:


No be shere shere matter.

The country is gone. Just do whatever you can do to remain staying afloat or run away from the country.

It will get much worse in the coming months.

Here in Ib city,I have seen bread of #1.5 which is not even enough okay to a family of 3 to eat,so i should not be too surprise there is one of 2.5k. imagine our #2.5k is been exchange for a loaf of 🍞. Scary times and it's getting scarier because it doesn't look like there is an end in sight to our problems.

Hezzyluv:
Aboki sold today at 1,430

I even hear sey #1,700 loaf of bread dey sef

Yea bought one 1650 today
The same was 800 7 months ago

post=128190992:
The implications for businesses, both large and small, are also significant, with potential increases in production costs and challenges in maintaining profitability.  
The solution is addressing fundamental issues that have hindered the effective operation of the Nigerian FX markets over the years and encouraging local productions of goods.

Are you making sense zombie? Zero
Go get a life

I Screeeaaam......!!!!

Zidoh:
Many people will be shocked on how Naira will gain strength and gradually we will get back to our feet. It's be long waiting and we give thanks to our able president Tinubu for the strong decision and the good people of Nigeria for their patient .

₦2000 fast approaching. Despite that I earn in $$$ I still feel the heat of the high inflation of commodities, talk more of those earning in naira Nigerians Ave themselves to blame , they kept voting bad leaders because of sentiments. Now see where it has landed all of us and I bet that coming election, most people especially the youth will still vote rubbish

As long as fuel remain expensive in Nigeria , dollars will be getting high.

The economy is down. People are running away from Nigeria. The demand for dollars is very high now. If u are receiving western union in Banks now those bankers will quickly buy it and transfer it . people are selling properties, converting it to dollars and going abroad for studies etc.

The only solution is to reduce energy prices pms,diesel and kerosene so that local industries can kick off with low production cost and better economy.

No economy survive with expensive energy

When privileged people use their connections to buy the dollar just to hoard and speculate, what else would be the outcome?

As long as the NNPCL, CBN, banks, and black marketeers keep trading the dollar like it's gold, we will sink deeper into this mess.

Hezzyluv:
Aboki sold today at 1,430

I even hear sey #1,700 loaf of bread dey sef

Loaf of bread don enter 2k since when
Are you playing

Eriggs:

Will you keep shut there and mechionu.
He should run away and give the position to you obi fraud and terrorist supporter abi?
Wailers and losers

He should run away and give the position to you obi fraud and terrorist supporter abi?
Wailers and losers

unwailers and winners afar na? U don buy your 1700 bread with cocoa cola of 300 to down an today?

Oh that one too cost u can manage pure water 2 fifty naira.

But U resemble that guy wey I see for budilion wey dey shout ebi paa mi oo. Hahaha 😂😂

Renew shege just dey start for you winner's

Eriggs:
You are telling a nairalander Bleep you? Cos you know there is no consequences for your uncouth and unruly online behavior
No be ur fault, this is what you and your fellow ip0bs have turned nairaland to.
Continue ooo

Keep talking about others uncouth and unruly online behavior while your gov continues to finish you.
It's only a fool that doesn't know his true enemies.
Ipob is not even among Nigeria's top 15 biggest problems.

Nemere2020:


https://nairametrics.com/2024/01/29/naira-hits-record-low-of-n1348-63-1-at-the-official-market/?amp=1

The most painful part of all these people would still vote in 2027 for the most clueless government that made Buhari look like a saint. A government that has brought untold hardship to Nigerians.

In less than one year the killings and kidnapping 2,423 people have been killed in mass atrocities-related incidents and at least 1,872 persons abducted between May 29, 2023 to January 26, 2024 under President Bola Tinubu has never happened in Nigeria except during the civil war.

fitinwell:


https://www.nairaland.com/7984918/cbn-releases-500m-clear-verified

Even your link says 500 million dollars and you're quoting 500 billion dollars.

Please be adding small cowbell to that your garri.

Cassandraloius:
Abomination! From frying pan to fire!

They keep printing Naira in bullion vans chasing scarce dollars - why will the rate of naira appreciate against the dollar?
It is ECONOMICS 101 people--- when demand rises, price rises -------- the demand for dollars by the thieves running the
country is too high because they are keeping their loot in dollars -- so there is scarcity of dollars and with scarcity
comes dollar rate hike - when A FORGER IS NOW IN CONTROL OF THE CBN AND THE SEAL OF THE STATE - what will he
not do ? HE SAID IT THE OTHER DAY - (his words not mine)

"I deserve to be in the GWR - Guinness Book of Records.... and "IF THEY DO NOT PUT ME IN THERE, I WILL LOOK FOR A WAY TO INSERT MY NAME IN IT" -

Does that sound familiar with the picture in the Chicago year book that was put out there as evidence he graduated from CSU?

ONA never see anything - EVERYONE WHO DIRECTLY or INDIRECTLY supported this travesty of an Administration will be consumed by it

musicwriter:
They are probably chasing the illusion called "equilibrium" in economics. If so, they've certainly withdrawn to textbook economic theories which have little or nothing to do with reality.

This is why Mr. Noam Chomsky often joke that people didn't read beyond chapter one of Adam Smith's wealth of nations, cause Smith warned in the later part of the book about the downside of his economic thoughts (he never called it theory) others later called it theory.

But Smith said that everything he proposed is PECULIAR; example to a given place, time, situation, weather, etc.

In our PECULIAR Nigerian situation, you can never reach any equilibrium, as long as there's corruption in Nigeria.

If they like they should go ahead and make the Naira N2,000/$1. They'll always be black market as long as there's corruption in Nigeria.

there's corruption in the West too, yet their economy isn't as abysmal as ours.

People say Nigeria needs to export more goods for the Naira to gain strength against the dollar, yet Nigeria still export goods and the Naira keeps falling everyday like the water in Niagra Falls.

I honestly believe there is a systemic attempt by the political class to keep this country the way it is, because this way, it will always favor them and they will continue to rule.

The former kano deputy governor has already told them the truth. It's either they block government houses from using bullion vans to go mop up dollars or it'll continue to crash

scally11:
Pounds Don pass#1800 on lemfi and taptap. Now to send money to people in naija takes nothing from me. 260k self no pass 150£. All thanks to bulaba

You think you are winning.

Value is stored in money.

When you want to use your money to do anything in Nigeria, you will pay more for goods and services.

Everyone loses in this stance.

brightedu:
Banger

what app is that

Come to think of it, last week the Naira hit record low of 1400 Naira, now it is hitting another record low of 1348 Naira.

I wonder why some Nigerians just love to spread half baked news.

joseph1832:
there's corruption in the West too, yet their economy isn't as abysmal as ours.

People say Nigeria needs to export more goods for the Naira to gain strength against the dollar, yet Nigeria still export goods and the Naira keeps falling everyday like the water in Niagra Falls.

I honestly believe there is a systemic attempt by the political class to keep this country the way it is, because this way, it will always favor them and they will continue to rule.

But we don't really export anything aside crude. When I say export, I mean something exported massively that turn in billions into the country, not petty cola nut, bitter kola or cassava flour. And right now, crude is that only commodity