Throwback:


Why should exchange rate of the dollar cause a rise in the cost of living inside Nigeria?

That is the problem the government needs to address.

Eliminate importation of the commodities we should never be importing, like our fuels.

Are we importing agricultural products?

Those agricultural products you think we are not importing , we are importing them indirectly.
Fertilizers, feeds for chickens and even crop seedlings are being imported in Nigeria. Hence an increase in exchange rates is an increase in agricultural produce.
Even where we are not importing, I heard that Nigerian yam is being transported to Ghana hence the reason the local yam for consumption is now very expensive.

cucumbar:
you say march? It will get to 2k before February ends if nothing is done about it.

They'll probably do somethings about it like they did some weeks ago, the naira will go down a bit and the minions will hail their master.

But destiny cannot be denied.

This is why Buhari refused to float the Naira even with IMF pressure. Tinubu caved for power.
Listen to Buhari here in his interview with Aljazeera. He explained why he was going against the IMF and their call for him to float the Naira. He even got visibly angry in this video when cautioned against opposing the IMF.

His successor who needed power and International validation so he had to go with the IMF instruction. That's why the Subsidy removal and the floating of the Naira were done before he had a cabinet or economic team.
This is SAP (Structural Adjustment Programme) II. Buhari knew Nigeria wouldn't survive another SAP.

https://www.youtube.com/watch?v=0gQtp9PlzfE?si=reC-sY1szEbW1X3c

It’s already crisis but only those at the top of the food chain are feeling it for now, they’ll soon pass it to us.

HajiMT:
The government needs to arrest this situation before it degenerates to a full-blown crisis.

Maria Lagbaja, otito.

I was even thinking, this could get to 2000 naira per dollar.

sirpharrell:
It is obvious that the recent steep decline in the value of the naira is not due to any proven economic factor.
It is artificial, mainly due to speculations by Nigerians.
I think the government should not intervene but ensure that there is little or no room for arbitrage as they seem to be doing lately.
Let the naira even fall down to 10,000 to the dollar if that is what the currency speculators want.
The market will naturally get to a bursting limit, like all ponzi schemes are bound to, where late entrants will lose heavily.
There is no difference between ponzi and what they are doing now.

You clearly don't know the meaning of ANARCHY!

Keep assuming your fellow citizens will keep suffering in silence while your clueless leaders measure dicks with currency speculators (whatever that even means).

By the time the entire nation is engulfed in riots, you will understand.

Throwback:


Why should exchange rate of the dollar cause a rise in the cost of living inside Nigeria?

That is the problem the government needs to address.

Eliminate importation of the commodities we should never be importing, like our fuels.

Are we importing agricultural products?

You are telling them economics they can not find in textbooks but they find it annoying. Are we going to die if their is a trade blockade and all these imported products is beyond our reach

Naira will find it's value,when importers/speculators chasing dollars are tired because of price instability and apathy by consumers

The Economy is being engineered by forces wealthier than the country. Those who hijacked CBN, also own BDCs. And they also hijacked NNPC, clean it empty and changed the name. They also hijacked EFCC and DSS. Guess what? They own Oil Wells too.

So you want to reset the country?

Ban and outlaw BDC Licenses
Revoke OPL and OML Licenses.
Revoke oil licenses.
Restructure the country.

Alternatively, we can continue as is, but the best law that needs to be passed now, - Universal Gun Right. Every Nigerian should carry a gun, lets start target practice while building our manufacturing base to disconnect our lives from imported goods.

I have a strong believe that Tinubu can immortalize his name, by Revoking all Licenses and getting us started with a new form of government where States control their resources and pay 60% to Abuja. Lets argue the message every other 10 years.

How is the Naira to Dollar when APC came to Power ... on top all this decline we still dey owe debts ... We go soon begin collect our Senator's Jeep the way it is going , I see more companies shutting down, especially those expose to foreign loans but selling locally ...Although I must say the gap between the official rate and parallel shouldn't exceed 10 naira , so the decline might not be a bad thing in that respect to forestall roundtripping, the question still need be asked what is fuelling the demand, if the CBN is claiming to clearing backlogs

Kennyswag:
bros i tire o.
is dollar our national currency?
why all this noise about $

I hope that after saying this, 80% of what you use are not imported. But if you check and 40% of your valuables are imported, roasted thunder will fire you and your cohorts

Simple Reversal will put a halt to this nonsense naira floating without wings. How long should we wait with this experimental calamities.

HajiMT:
The government needs to arrest this situation before it degenerates to a full-blown crisis.

Before it degenerate to a full blown crisis?
So this is not a criss?

Tinubu for economy
Shittema for security

The irony

Nothing new: this is an ongoing trend from past generations. Despite this, Nigerians will still suffer and smile; hope in god and crooked survival means; cut corners and reduce expenses to accommodate inflation; give birth like rats; indulge in tribalism, blind political biases, sick classism; and/or pat themselves on the back for enduring and smartly surviving. This is the way of Nigerians in the face of economic shege.

IkeGod9891:
Thank God u all knw how we got here.

OK o.

Na we wey dem dey call Tanoids in 2014-2015 na im dey smile now.

Knowing the disaster Bubu was in 1983, we tightened our belt and divested when he came in 2015.

When dem drive away Goodluck to choose badluck, wetin dem expect?

I nor fit go mumu for anybody.

Balistic4:

I hope that after saying this, 80% of what you use are not imported. But if you check and 40% of your valuables are imported, roasted thunder will fire you and your cohorts

then you should be blaming the Nigerians(igbos) that has killed the economy with importation na.
is it tinubu that is importing every nonsense into Nigeria including those that can be/are been manufactured in Nigeria?

blame your importation loving igbo brothers.

I don't see the Naira strengthening against the dollar anytime soon.

Free fall..... It will get to 2000 before next weekend

Angelfrost:


Guy, na the same thing abeg.

Balablu bulaba Coach!

Hahahahahahahaha, you sure?

Martinez39s:
Nothing new: this is an ongoing thread from past generations. Despite this, Nigerians will still suffer and smile; hope in god and crooked survival means; cut corners and reduce expenses to accommodate inflation; give birth like rats; indulge in tribalism, blind political biases, sick classism; and/or pat themselves on the back for enduring and smartly surviving. This is the way of Nigerians in the face of economic shege.

True, until kidnappers start moving from house to house. By then, they would have killed as many kings and others as possible, God forbid.

As things dey go, that smug smile don dey disappear.

Dem don dey know say khaki nor be leather.

Samirana360:
Free fall..... It will get to 2000 before next weekend

Abi o. Osondi Owendi.

It has some silver lining.

May everyone who supported Apc feel the heat more . Useless people

Throwback:
Tinubu made it clear that the dollar should trade for whatever value those who are demanding it are willing to pay for it.

The question then is why are Nigerians so concerned about the naira value of the dollar?

The exchange rate is not a value of our local economy.

We were never a bigger economy than the USA when our Naira traded higher to a dollar on the 1960s and 1970s.

The UK is not a bigger economy than the USA despite the exchange rate between the British Pound and the US Dollar.

The government should focus on our local economy and achieving local sustenance, and ignore the exchange rate speculators.

As long as the average Nigerian can get all their needs and have enough left for savings and investments for the future, the exchange rate would be nothing but a number, just as it was when we had a higher exchange rate but a poorer economy compared to the US economy.

You day mahd

Up Tinubu !!! He has finally Collapsed our Naira and turned it into Toilet paper 🧻🧻🧻 within months

HajiMT:
The government needs to arrest this situation before it degenerates to a full-blown crisis.

What crisis? You forgot how they quenched the endsars protests with maximum force! Do they care about the naira?

Throwback:
Tinubu made it clear that the dollar should trade for whatever value those who are demanding it are willing to pay for it.

The question then is why are Nigerians so concerned about the naira value of the dollar?

The exchange rate is not a value of our local economy.

We were never a bigger economy than the USA when our Naira traded higher to a dollar on the 1960s and 1970s.

The UK is not a bigger economy than the USA despite the exchange rate between the British Pound and the US Dollar.

The government should focus on our local economy and achieving local sustenance, and ignore the exchange rate speculators.

As long as the average Nigerian can get all their needs and have enough left for savings and investments for the future, the exchange rate would be nothing but a number, just as it was when we had a higher exchange rate but a poorer economy compared to the US economy.

I wish you also said all these your long preaching under GEJ

If other immediate past governments had allow this free fall of the naira, Where would we have been now this Tinubu ?

Very soon crime go take over

ifytrik:
Any business that survives this naira free fall will never run down, my advice to my fellow business men and women is before you sale any goods in your shop check the exchange rate, no go kill your business just because you want your customer to be happy. Last last Tinubu is a failed leader

Reality is a motherf**ker ain't it? I could have told you that. Where is the dude mod44 when you need him? Just be patient they will start blaming Igbo for all their self-infected problems. All the man had to offer them was "IT WAS HIS TURN" ain't that a bit*h? well, it's his turn now. The man is as dumb as a doorknob

[color=#000099][/color]

Throwback:
Tinubu made it clear that the dollar should trade for whatever value those who are demanding it are willing to pay for it.

The question then is why are Nigerians so concerned about the naira value of the dollar?

The exchange rate is not a value of our local economy.

We were never a bigger economy than the USA when our Naira traded higher to a dollar on the 1960s and 1970s.

The UK is not a bigger economy than the USA despite the exchange rate between the British Pound and the US Dollar.

The government should focus on our local economy and achieving local sustenance, and ignore the exchange rate speculators.

As long as the average Nigerian can get all their needs and have enough left for savings and investments for the future, the exchange rate would be nothing but a number, just as it was when we had a higher exchange rate but a poorer economy compared to the US economy.

You are nothing but a fool. People like you should not have access to phone because it is a waste... 70% of all you use in this country is imported with dollar and your brain with which you used to type this can't articulate that there will be increase in price of commodity. Don't you know that fuel is imported in dollars? Gas, disel... Better respect yourself. Once our currency has no value the mass will suffer because Nigeria is not among the country that produce rather we consume.

Kennyswag:
then you should be blaming the Nigerians(igbos) that has killed the economy with importation na.
is it tinubu that is importing every nonsense into Nigeria including those that can be/are been manufactured in Nigeria?

blame your importation loving igbo brothers.

also blame your yoruba and hausa brothers that can't produce anything but buy from the igbo importers.

GreatrAnalyst:


Buhari will just be sipping cold-served Kunu with some evil grins on his face, saying, "Asiwaju, on ya mandate, we sha stande."

The man just became a saint

Walahi!