Until we START TO LOVE, PREFER, and VALUE NIGERIAN-MADE GOODS AND SERVICES over foreign-made goods and services, FORGET ABOUT THE NAIRA VALUE RISING.

Until we PREFER to buy Nigerian made shoes, slippers, handbags, cars, sandals, clothes, watches, bangles, etc INSTEAD OF foreign made, FORGET ABOUT NAIRA VALUE RISING.

We have to start to see things like the Chinese.

A China man prefers to buy made in China, even if the foreign version from London is of better quality.

Why? Because he's thinking ''why should I enrich Europeans instead of my own Chinese people?''

And so, this makes manufacturing very profitable in China! And the currency very strong! There is more demand for the Chinese yuan than for the dollar!

Why?

Because the people PREFER made in China to imported!

Without that mindset in Nigeria, FORGET ABOUT NAIRA VALUE RISING.

We cannot have a mindset that laughs at a man for wearing 'Aba-made' shoes.

That's a destructive, ignorant, anti-African mindset that will lead us into the abyss.

THE AMOUNT OF MONEY THESE WOMEN WE CALL NIGERIAN WOMEN SPEND ON SO-CALLED BRAZILIAN HAIR ALONE EACH YEAR, IS MORE THAN 2 BILLION DOLLARS.

IMAGINE IF THEY DECOLONISED THEIR MINDSET, AND FAVOURED TRADITIONAL PLAITING AND WEAVING HAIR STYLES OVER IMPORTED PERMS, WIGS, AND FAKE HAIR, ......THAT ALONE WOULD GENERATE EMPLOYMENT FOR 3 MILLION LOCAL HAIR STYLISTS MINIMUM, AND SHORE UP THE NAIRA VALUE.

When do we wise up as a people?

It's not about pointing fingers at govt officials. They make up less than 0.1% of the Nigerian population.

We over-estimate their influence and capacity to alter society.

THIS IS ON US!

Just as we started to prefer Nigerian movies and music over foreign, which made those sectors BLOW to world class proportions, we can accomplish similar by preferring NIGERIAN MADE GOODS AND SERVICES to foreign made.

When we do that, THE ENTIRE COUNTRY WILL BLOW.

I agree.

The government cannot print dollars.

People call on the government to 'do something', but in reality the government can only tinker here and there. Truth is, the government doesn't have a magical lever it can pull to increase the value of the naira.

I went into a new supermarket in Ikeja GRA a couple of weeks ago. I had never seen anything like it. There's not even a biscuit in the supermarket that is made in Nigeria. Virtually everything is imported.

When you write that we need to produce more of what we use and eat, and stop importing everything under the sun, people will attack you, and say all the blame lies with politicians. It is easier to find various types of imported Olive oil in the average Supermarket than it is to find our own palm oil. Some upmarket supermarket don't even stock palm oil, I guess because they feel it is local.

Ok o.

DeLaRue:
I agree.

The government cannot print dollars.

People call on the government to 'do something', but in reality the government can only tinker here and there. Truth is, the government doesn't have a magical lever it can pull to increase the value of the naira.

I went into a new supermarket in Ikeja GRA a couple of weeks ago. I had never seen anything like it. There's not even a biscuit in the supermarket that is made in Nigeria. Virtually everything is imported.

Can you see?

That's the problem we have!

Those who have the big money to spend, want to spend it on IMPORTED goods, for which their suppliers need dollars.

So how will naira value rise when there's no demand for naira, only DOLLARS?

Rostikol:
Until we START TO LOVE, AND PREFER, and VALUE NIGERIAN-MADE GOODS AND SERVICES over foreign-made goods and services, FORGET ABOUT NAIRA VALUE RISING.

Until we PREFER to buy Nigerian made shoes, slippers, handbags, cars, sandals, clothes, watches, bangles, etc INSTEAD OF foreign made, FORGET ABOUT NAIRA RISING.

We have to start to see things like the Chinese.

A China man prefers to buy made in China, even if the foreign version from London is of better quality.

Why? Because he's thinking ''why should I enrich Europeans instead of my own people?''

And so, this makes manufacturing very profitable in China! And the currency very strong! There is more demand for the Chinese yuan than for the dollar!

Because the people PREFER made in China to imported!

Without that mindset in Nigeria, FORGET ABOUT NAIRA VALUE RISING.

We cannot have a mindset that laughs at a man for wearing 'Aba-made' shoes.

That's a destructive, ignorant, anti-African mindset that will lead us into the abyss.

THE AMOUNT OF MONEY THESE WOMEN WE CALL NIGERIAN WOMEN SPEND ON SO-CALLED BRAZILIAN HAIR ALONE EACH YEAR, IS MORE THAN 2 BILLION DOLLARS.

IMAGINE IF THEY DECOLONISED THEIR MINDSET, AND FAVOURED TRADITIONAL PLAITING AND WEAVING HAIR STYLES OVER IMPORTED PERMS, WIGS, AND FAKE HAIR, ......THAT ALONE WOULD GENERATE EMPLOYMENT FOR 3 MILLION LOCAL HAIR STYLISTS MINIMUM, AND SHORE UP THE NAIRA VALUE.

When do we wise up as a people?

It's not about pointing fingers at govt officials. They make up less than 0.2% of the Nigerian population.

We over-estimate their influence and capacity to alter society.

THIS IS ON US!

Which nation in the world industrialized with generators, powered with imported subsidized fuel ?

Here's another example.

Imagine if INNOSON was selling his cars by the SECOND, as in once a car is built, it is sold immediately due to the fact that Nigerians now prioritise indigenous made cars and are rushing for INNOSON vehicles!

Two things will happen.

1) Innoson would quickly grow to become a WORLD CLASS player in the auto industry, competing with the likes of Toyota and Nissan, and

2) More local players will be drawn into vehicle manufacturing, due to the VERY HIGH LOCAL DEMAND FOR NIGERIAN MADE CARS, and we would have several more 'INNOSONS' established in the country, further boosting the economy and creating jobs.

AND WHILE ALL THIS IS OCCURRING, the naira will be witnessing a strong, steady rise in value that is GENUINE, unshakable, and based on indigenous industry and capacity.

plaetton:

Which nation in the industrialized with generators, powered with imported subsidized fuel ?

The ones that Nigerian manufacturers have made even with their generators, have you bought?

You can point fingers all day, Mr Professional Blamer, but YOU carry HEAVY blame for the Naira value if you prefer FOREIGN MADE over NIGERIAN MADE.

And you cannot blame and finger-point your way out of it.

Rostikol:


Can you see?

That's the problem we have!

Those who have the big money to spend, want to spend it on IMPORTED goods, for which their suppliers need dollars.

So how will naira value rise when there's no demand for naira, only DOLLARS?

Even to export the raw commodities like rubber, cocoa, cassava, Indian hemp, palm oil which are all under the exclusive jurisdiction of the states of the federation on the legislative concurrent list we refuse to do, 220 million people are waiting for 1.3 million barrels of crude oil export from the Federal government to help them with foreign exchange?

Shameless people we are, let the likes of DMerciful Abia, bigkoko Kigali & Colorado Bobloco to come and explain to us the reason for our laziness?

blacknp:
Even to export the raw commodities like rubber, cocoa, cassava, Indian hemp, palm oil which are under the exclusive jurisdiction of the states on the legislative concurrent list we refuse to do, 220 million people are waiting for 1.3 million barrels of crude oil export from the Federal government to help them with foreign exchange?

Shameless people we are, let the likes of DMerciful, bigkoko & Colorado Bobloco to come and explain to us the reason for our laziness?

My brother, the other day I was checking out the Jamaican economy... If you see all the different things they do with cassava in that place, you will weep for this country!

From cassava chips, to cassava flakes for breakfast, to cassava soap, to cassava oil, to cassava extracts for medicinal purposes, to all sorts of things.

Well branded and packaged!

In industrial quantities!

A small island of 3 million people.

Our own is just to use cassava to soak garri and make eba.

Or sprinkle on beans. Finish!

And then be complaining about naira value.

In fact we have problems as a people.

plaetton:

Which nation in the industrialized with generators, powered with imported subsidized fuel ?

Other countries with electricity issues found a way to solve their problems with local initiative, not the lazy minded ones like you in the millions blaming others for their own incoherent incompetence.

Or you want to blame Ghanaians or Togolese for you not been able to provide yourselves with basic electricity?

The problem is that you are shameless in pride, just like millions of your type, to blame others for our own ineptitude.

Rostikol:


My brother, the other day I was checking out the Jamaican economy... If you see all the different things they do with cassava in that place, you will weep for this country!

From cassava chips, to cassava flakes for breakfast, to cassava soap, to cassava oil, to cassava extracts for medicinal purposes, to all sorts of things.

Our own is just to use it to soak garri and make eba. Finish!

In fact we have problems as a people.

Yet we are the largest producers of cassava in the world.

Tomorrow we will be quick to say shamelessly that it is the Federal Government that spoilt us with oil money, a mentality we purportedly inherited from our fore fathers under military mentality.

Once Nigerians can blame the cause of their problems on the President, they are alright, nothing is ever our fault.

It is always the fault of the so called President & politicians who are just everyday people like us & them, that just decided to play the game of politics.

If they sit on the wall & allow others dictate their existence, even the cassava stock will rule over them in the long run.

blacknp:
Yet we are the largest producers of cassava in the world.

Tomorrow we will be quick to say shamelessly that it is the Federal Government that spoilt us with oil money, a mentality we purportedly inherited from our fore fathers under military mentality.

Once Nigerians can blame the cause of their problems on the President, they are alright, nothing is ever our fault.

It is always the fault of the so called President & politicians who are just everyday people like us & them, that just decided to play the game of politics.

I aways see them online saying crap like ''oh we could be so great. It's only our leaders that are the problem''.

I just want to puke!

They sound like broken records!

Nobody wants to take personal responsibility!

Rostikol:


Our own is just to use cassava to soak garri and make eba. Finish!

In fact we have problems as a people.

We don't even produce enough cassava to eat, let alone have enough for industrial use or export.

Many of the people who complain bitterly of prices of food have never stepped foot on a farm. They will never farm and grow food. They'll rather be on social media asking government to 'do something'. How?

The government should import workers from Germany, India, America etc to come and grow yam, cassava and pepper for us?

People are just not serious.

Dollar is not our currency. Why are newspapers, organised media, and people on social media reporting every movement of another country's currency with minute by minute reporting, thus creating more panic buying and apocalyptic mass hysteria?

Are South Koreans, Indians, South Africans etc monitoring the dollar every minute like Nigerians do?

No, they're in offices, farms, factories producing more and more things to sell to unserious countries like Nigeria while Nigerians are on social media destroying their country.

Ok na.

No doubt, they'll wake up in the morning to attack and abuse those posting what is nothing but the truth.

You see, it all started with corrupt civil servants demanding bribe, police follow and lastly everything dabarum, including those that supposed to use their brains to make good choices..... Now, it's a private individual, managing his private business you will blame for not developing the economy, ba?
Hahaha 🤣🤣🤣🤣🤣 y'all be fine Las Las

Rostikol:


My brother, the other day I was checking out the Jamaican economy... If you see all the different things they do with cassava in that place, you will weep for this country!

From cassava chips, to cassava flakes for breakfast, to cassava soap, to cassava oil, to cassava extracts for medicinal purposes, to all sorts of things.

Well branded and packaged!

In industrial quantities!

A small island of 3 million people.

Our own is just to use cassava to soak garri and make eba.

Or sprinkle on beans. Finish!

And then be complaining about naira value.

In fact we have problems as a people.

DeLaRue:



We don't even produce enough cassava to eat, let alone have enough for industrial use or export.

Many of the people who complain bitterly of prices of food have never stepped foot on a farm. They will never farm and grow food. They'll rather be on social media asking government to 'do something'. How?

The government should import workers from Germany, India, America etc to come and grow yam, cassava and pepper for us?

People are just not serious.

Dollar is not our currency. Why are newspapers, organised media, and people on social media reporting every movement of another country's currency with minute by minute reporting, thus creating more panic buying and apocalyptic mass hysteria?

Are South Koreans, Indians, South Africans etc monitoring the dollar every minute like Nigerians do?

No, they're in offices, farms, factories producing more and more things to sell to unserious countries like Nigeria while Nigerians are on social media destroying their country.

Ok na.

We are actually the world's largest producer of cassava.

But we clearly need to ramp up production.



https://www.statista.com/statistics/1391572/global-leading-cassava-producing-countries/

Firstly, I feel true compassion for those who really wanted a change of the nonsense going on in Nigeria.

But, business is not technically feasible in Nigeria as presently constituted. A country where multi national companies is closing shop is where you want tuke tuke business to strive?

If police no use bribes demand finish your business, civil servants dey one corner dey wait for you. What if high cost of producing a product or service?

Do you think I'm so enjoying it all here with bills of more than $4k USD monthly?

Let me share what finally made me give up in Nigeria. After of my work I also have a very large pig farm. During insemination, I usually take my pigs to a particular farm for that. Anytime I'm coming back, police, northern Muslim would stop me and my pigs. They will not come 20 yards to the pigs, but guess what they always demand bribes on the pigs!

They forbid pigs, but don't forbid money from the pigs!

blacknp:
Even to export the raw commodities like rubber, cocoa, cassava, Indian hemp, palm oil which are all under the exclusive jurisdiction of the states of the federation on the legislative concurrent list we refuse to do, 220 million people are waiting for 1.3 million barrels of crude oil export from the Federal government to help them with foreign exchange?

Shameless people we are, let the likes of DMerciful Abia, bigkoko Kigali & Colorado Bobloco to come and explain to us the reason for our laziness?

Bigkoko:
Firstly, I feel true compassion for those who really wanted a change of the nonsense going on in Nigeria.

But, business is not technically feasible in Nigeria as presently constituted. A country where multi national companies is closing shop is where you want tuke tuke business to strive?

If police no use bribes demand finish your business, civil servants dey one corner dey wait for you. What if high cost of producing a product or service?

Do you think I'm so enjoying it all here with bills of more than $4k USD monthly?

Let me share what finally made me give up in Nigeria. After of my work I also have a very large pig farm. During insemination, I usually take my pigs to a particular farm for that. Anytime I'm coming back, police, northern Muslim would stop me and my pigs. They will not come 20 yards to the pigs, but guess what they always demand bribes on the pigs!

They forbid pigs, but don't forbid money from the pigs!

So long as the naira value is low and people are poor, police corruption will not end.

Because it is in itself a result of poverty and low pay.

So, waiting for a flawless police force to emerge before investing in Nigeria is the wrong approach in my view.

If the great QUANTUM of Nigeria's 240 million people decide to BUY NIGERIAN, the prosperity generated will overwhelm us, to the point that police corruption would be unnecessary.

That is how powerful this concept is.

How did fg get 1.3 million barrel of crude to sell? The crude should belong to the states where they're found.

When we say lets restructure this country so the state governors don't go to Abuja, you'll still be the one to oppose it.

You people who have been opposing restructuring so that every state keep their resources and develop themselves are truly the lazy ones because you can't survive without Niger Delta Oil money

blacknp:
Even to export the raw commodities like rubber, cocoa, cassava, Indian hemp, palm oil which are all under the exclusive jurisdiction of the states of the federation on the legislative concurrent list we refuse to do, 220 million people are waiting for 1.3 million barrels of crude oil export from the Federal government to help them with foreign exchange?

Shameless people we are, let the likes of DMerciful Abia, bigkoko Kigali & Colorado Bobloco to come and explain to us the reason for our laziness?

Does the government officials patronize made in Nigeria goods?

Rostikol:
Until we START TO LOVE, AND PREFER, and VALUE NIGERIAN-MADE GOODS AND SERVICES over foreign-made goods and services, FORGET ABOUT NAIRA VALUE RISING.

Until we PREFER to buy Nigerian made shoes, slippers, handbags, cars, sandals, clothes, watches, bangles, etc INSTEAD OF foreign made, FORGET ABOUT NAIRA VALUE RISING.

We have to start to see things like the Chinese.

A China man prefers to buy made in China, even if the foreign version from London is of better quality.

Why? Because he's thinking ''why should I enrich Europeans instead of my own people?''

And so, this makes manufacturing very profitable in China! And the currency very strong! There is more demand for the Chinese yuan than for the dollar!

Because the people PREFER made in China to imported!

Without that mindset in Nigeria, FORGET ABOUT NAIRA VALUE RISING.

We cannot have a mindset that laughs at a man for wearing 'Aba-made' shoes.

That's a destructive, ignorant, anti-African mindset that will lead us into the abyss.

THE AMOUNT OF MONEY THESE WOMEN WE CALL NIGERIAN WOMEN SPEND ON SO-CALLED BRAZILIAN HAIR ALONE EACH YEAR, IS MORE THAN 2 BILLION DOLLARS.

IMAGINE IF THEY DECOLONISED THEIR MINDSET, AND FAVOURED TRADITIONAL PLAITING AND WEAVING HAIR STYLES OVER IMPORTED PERMS, WIGS, AND FAKE HAIR, ......THAT ALONE WOULD GENERATE EMPLOYMENT FOR 3 MILLION LOCAL HAIR STYLISTS MINIMUM, AND SHORE UP THE NAIRA VALUE.

When do we wise up as a people?

It's not about pointing fingers at govt officials. They make up less than 0.2% of the Nigerian population.

We over-estimate their influence and capacity to alter society.

THIS IS ON US!

Just as we started to prefer Nigerian movies and music over foreign, which made those sectors BLOW to world class proportions, we can accomplish similar by preferring NIGERIAN MADE GOODS AND SERVICES to foreign made.

When we do that, THE ENTIRE COUNTRY WILL BLOW.

Stop gaslighting yourself!

You knew all these but was fighting Jonathan govt for exchange rate at N216, do you think importation started today?

Trying to hoodwink us from Tinubu's
astronomical incompetence will not work

Rostikol:


Can you see?

That's the problem we have!

Those who have the big money to spend, want to spend it on IMPORTED goods, for which their suppliers need dollars.

So how will naira value rise when there's no demand for naira, only DOLLARS?

Who let these stinking brain dead dogs out to come and disturb us with their gibberish.

Your lord n saviour is in France wasting our scarce
Resources during what we dont know and your stupid ass is here typing rubbish and defending stupidity

Tin

blacknp:
Other countries with electricity issues found a way to solve their problems with local initiative, not the lazy minded ones like you in the millions blaming others for their own incoherent incompetence.

Or you want to blame Ghanaians or Togolese for you not been able to provide yourselves with basic electricity?

The problem is that you are shameless in pride, just like millions of your type, to blame others for our own ineptitude.

A whole lot of meaningless babble directed at whom ?
Is he even sure which post he is responding to ?

Hhmm.
Maybe I need an interpreter for this one .

Over pampered citizens

Our oil, our oil

Comparing their self to UK/US. Countries that take 20-40% tax on whatever their citizens earn. Just #50 stamp duty, they were crying like a new born baby.

Morons believe the government should be feeding them and taking care of their needs. Government has no job taking care of you. Government is meant to be taking from you why providing security. Spoilt brat everywhere.

Rostikol:


The ones that Nigerian manufacturers have made even with their generators, have you bought?

You can point fingers all day, Mr Professional Blamer, but YOU carry HEAVY blame for the Naira value if you prefer FOREIGN MADE over NIGERIAN MADE.

And you cannot blame and finger-point your way out of it.

Oh yeah.
Blame me for making your N30k BMC or is it TMC monthly allowance a little more worthless.

Nigeria is a generator economy because they produce the worst political leaders in the world. The leaders are emboldened because they have little people like you , tribalists who can never see anything beyond your petty tribalism.
You sell your souls to the devil and then expect to reap the fruits of a prosperous nation. A nation populated with little men , low self-esteem people like you would always produce leaders that would enslave and screw you over from one political cycle to the next.
Why are you complaining now ?
If you're not smart enough to realize it, let me tell you now, nothing will ever get better in Nigeria. Look around you. Everything has crumbled.
Manufacturers cannot even afford fuel to run the generator economy. Soon , no one would be able to afford the imported generators to power the generator economy.
I am sure that typical two-faced hypocrites like you would have already snuck your children, by hook or crook , out of Nigeria, if your N30k TMC allowance can allow you.

This house has fallen.
Reap what you sow , all of you.

We have gone beyond embracing made in Nigeria goods . We are even kissing it.

The truth is that those factory producing made in Nigeria goods import 70% or more of their raw materials and require dollar to do so. Eg Dangote refinery .

Government should stop sending their boys online to blame the citizens . Instead they should employ technocrats on how to attract foreign exchange .

kcprince:
We have gone beyond embracing made in Nigeria goods . We are even kissing it.

The truth is that those factory producing made in Nigeria goods import 70% or more of their raw materials and require dollar to do so. Eg Dangote refinery .

Government should stop sending their boys online to blame the citizens . Instead they should employ technocrats on how to attract foreign exchange .

I am not an admirer of this govt but theres a point there. We do not own the dollar and it's foolish for us to be crazy about a currency we do not control. I blame all of us, so it's not about politicians. Why is the exchange rate a news item everyday? Even if you have an angel as President if Nigerians have the attitude that dollar is their savior, they will not succeed with naira. If a foreigner comes to Nigeria and we accept dollar from him, are we not fooling ourselves? We even have schools and companies charging in dollars inside Nigeria. Nigerians are their own problems. Yes, Tinubu and his Bank man have work to do but they are not the only ones to be blamed. we all have a role in it. How do we think we can be living inside Nigeria and be hedging against our own currency and expect any policy to work? If no one is demanding and using the naira it can't work. Why is the naira you have in your account not something you can transfer to that school abroad? Why must you convert it to dollars first? Why the stress? That's part of the govt job to do but in the meantime, tell me your experience when you travel and show them the dollar or pay with the dollar. If it's not Zimbabwe who cannot control their economy, they will tell you to pay them in local currency. Nigerians just like to show off foolishly holding the dollars. The Americans do not carry their currency the way we do. Oya carry dollar go UK make I check something.

This thread is full of dumb people with good intentions.

First of all, consider the case of Innoson. Innoson was established in 2007 and its SUVs go for 22-32 million Naira.

In contrast, Toyota has been around since 1937. And you can get a Toyota Highlander 2008 at 12 million Naira.

That's half the price of Innoson's plus you get a trusted vehicle that ANY mechanic can fix.

ALSO, Innoson is a vehicle assembling company. It makes NOTHING. It brings in vehicles in pieces then assembles them and puts its logo on it. It's an IMPORT-DEPENDENT company like the rest of them.

Buying from Innoson does next to NOTHING for the Naira. So it makes NO economic sense to pay MORE for a vehicle that you're scared to take to most mechanics because of "patriotism".


NEXT is the issue of price. Nigerian manufacturers want to charge the same price as imported goods. That's INSANE when you consider the fact that most imported goods literally travelled across an OCEAN to get to Nigeria.

Yet, one manufacturer in Aba wants to charge as much for his goods as imported ones.

Nigeria has a population that is extremely PRICE-SENSITIVE. Fix a reasonable price for your goods as a local producer and see how you'll get rushed.

Finally, QUALITY is everything. Don't get me wrong here. Nigerians will compromise on quality in a heartbeat if the price justifies it. In fact, they'll compromise on quality EVEN if the price doesn't justify it. But ONLY to an extent.

But Nigerian producers will flood the market with shitty products at EXORBITANT prices. Then turn around to bitch about it when consumers choose quality foreign products at prices that can be justified.

For instance, consider the case of biscuits that someone mentioned.

Basic formula for Nigerian Biscuits = 1 part flour + 10,000 parts SUGAR + 3 parts ARTIFICIAL flavour

It's INEDIBLE! A supermarket that stocks them is begging to go bankrupt.

Key problem facing Nigerian producers is they offer EXTREMELY LOW quality goods at EXTREMELY HIGH prices.

There's a lot to be said on this issue but I'll stop here.

papyjaypaul:


I am not an admirer of this govt but theres a point there. We do not own the dollar and it's foolish for us to be crazy about a currency we do not control. I blame all of us, so it's not about politicians. Why is the exchange rate a news item everyday? Even if you have an angel as President if Nigerians have the attitude that dollar is their savior, they will not succeed with naira. If a foreigner comes to Nigeria and we accept dollar from him, are we not fooling ourselves? We even have schools and companies charging in dollars inside Nigeria. Nigerians are their own problems. Yes, Tinubu and his Bank man have work to do but they are not the only ones to be blamed. we all have a role in it. How do we think we can be living inside Nigeria and be hedging against our own currency and expect any policy to work? If no one is demanding and using the naira it can't work. Why is the naira you have in your account not something you can transfer to that school abroad? Why must you convert it to dollars first? Why the stress? That's part of the govt job to do but in the meantime, tell me your experience when you travel and show them the dollar or pay with the dollar. If it's not Zimbabwe who cannot control their economy, they will tell you to pay them in local currency. Nigerians just like to show off foolishly holding the dollars. The Americans do not carry their currency the way we do. Oya carry dollar go UK make I check something.

Hedging against a currency is not new. Even in USA they use gold, pounds and euro to hedge.

Our own case is that we are not producing crude upto expectation and we are no more serious with Non oil export growth like Obasanjo was. Government should develop policy to encourage export .

Do you know most cargo planes that come with goods leave the country without carrying anything for the return journey?

First of all let them address insecurity, allow farmer go back to farm , liberalise the mining sector so that anyone can participate legally without connection or tribal sentiment and also punish crude oil thieves .

The govt imports Petroleum products in dollars. They collect loans in billions of dollars, loot the general wealth and state funds in dollars, look the other way while their cronies steal solid minerals which would have earned us billions of dollars and still complain about how we are responsible for the naira freefall because we import everything

See them
they'll think everybody is dull like their fellow Tinubu supporters.
they're now gaslighting Nigerians in the bid to defend their useless pissy pissy drug lord.
The same people never said such when dollar was below 200 in GEJ time.
Same people went mute when Seyi Tinubu splashed over 400k scarce dollars on prostitutes.
Same people didn't say anything when Tinubu was wasting scarce dollars to set the record of longest entourage in something that will rarely benefit Nigeria.
Same people keeps mute now that Dangote import his crude oil from US using the same scarce dollars even when Nigeria has unlimited crude oil deposits and him even taking dollar loans and subsidized CBN rate to build his refinery.
And the list goes on.

see Tinubu has not seen anything
by the time hungry Nigeria is done with him, he'll be rushed to Comoros to rest.
bunch of lazy sycophants defending rubbish.