Freestainworld:
Something that will shock Nigerians in the next couple of days, forget that thing.

Cant you people be positive for once in your miserable lives?

tollyboy5:

We're earning enough dollar bro. This is the right step to take. This will reduce the subsidy the government introduced back to cater for rising import rate of petrol.
More money to service our debt, if the Naira could appreciate to a balance rate where stable import of refined oil is sold at 600 per liter without subsidy then Dangote and supply our local market without loss.
We can confidently cut off refined import to increase our forex gain. It's a chain or reaction and the Lagos Boys are on the right track

I honestly wish I could agree we were earning enough dollars, but we aren't and have never been. If we were, we won't even need to take loans or be hanging out at IMF office all the time.

Our revenue from oil is too low to meet our needs. Our tax revenue is even laughable. And we are not earning money from solid minerals...infact we are losing money because of the unregulated aspect of the thing. Our naira has been falling for decades because we don't have enough forex to keep it at N1 to one dollar. All those are signs.

That's why we even struggle to pay subsidy and keep refineries working self.

And that is why corruption is even worse on us than say a developing country. All countries have issues with corruption, but it is worse in Nigeria because our revenue is even lower than it should be. Basically corruption here is the rich herdsman with many cows and sheep coming to take the poor herdsman's only cow and sheep and leaving him with nothing.

That is why diversification, diversification, diversification, and industrialization is neccesary

nairalanda1:


The thing is, even taking your explanation into account, at the end, we ain't earning enough dollars in the first place.

We have to earn more dollars, and improving productivity is the first step

You think they don't know dat?
Anyways we will see d effects of how d crypto exchanges bans in a few months.
What I find even funny is, even Luno way dey worship dis government & adhere to almost all thier requiest got banned as well

stano2:
No worry this one would still be shut down.
So people should signup because of your stupid referral bonus.
Show us more, so CBN will shut it down asap

na one of the numerous saboteurs we have in Nigeria them be.No be only political class spoil this country.Individual greed contribute a whole to the numerous problems bedeviling this our country.Nigeria will Survive

The only time I will have joy for Nigeria is when ₦1 is at least $100, haba u ma check am see crude oil, agriculture, plenty natural resources, infact Nigeria is buying petrol, I dey suspect say them don chop the money for repairing of our refineries
The other time snake swallow 36 million naira
Buhari said: NIGERIA FROM TOP TO BOTTOM

NaijaSumigan:
Every political leader who has contributed to Nigeria downfall shall remain in everlasting pain.

The pains these politicians have caused Nigerians all these while shall never go unpunished over their lives and family members.

They travel around the world but the bastards can't lead well. They loot our money, always coming out to give false hope.

Every political leader stealing the wealth of Nigerians will not live to spend what he/she stole.

AMEN ! AMEN ! AMEN !

Lalami3232:
This is good news!!! But the problem with Nigeria is Nigerians. Whatever goes up can't come down in this country. It's virtually impossible for prices of goods to come down after been increased because of our yeye greed. Sometimes eeh, I dey feel say God just select some certain types of people to be born in this country. We deserve the kind of leaders we get because majority of us are worse than them. What do I even know aside to enlighten my fellow men nationwide.

Oga if you no meet your wife as a virgin, oga go for DNA test oooooo because boreholes aka non-virgins can't be trusted

if dollar falls to #400 price of goods will fall, dollar never really fall.

danowena:
Depends on where they got their info from. I bought at N1460 and felt cheated. even though i bought at N1580 on tuesday.

I pray it continues to appreciates as we hope the cabals won't fight back.

A good move to block the crypto sites. They were part of the problem with their speculation of rates. remaining finance sites like flywire, cadremit and co that helps in inflating the dollar figure for their own gain at our detriment.

why block them, when you can reach agreement with them not to give a rate above cbn rate.....common sense is truly not common

Naira is gaining but still down.

stano2:
No worry this one would still be shut down.
So people should signup because of your stupid referral bonus.
Show us more, so CBN will shut it down asap

lol....thy are in millions,u can't stop crypto,a wise government should be concerned in regulating it not all this clampdown.......lol

Ibrahimcoomasie:


https://www.thecable.ng/naira-gains-at-parallel-market-trades-at-n1500

Are these people confused?

I thought they said its now at N1310 to a dollar.

stano2:
No worry this one would still be shut down.
So people should signup because of your stupid referral bonus.
Show us more, so CBN will shut it down asap

STOP acting bitter.

If you don't want to sign up its up to you.

You don't know what you don't know... Stop condescending

BodyCount:

Y'all should stop this senseless and unreasonable mentality.
Nigeria is one of the main exporter of goods in the world, don't let the government foōl you.
Everything is not all about finished goods.
We export CRUDE OIL and many other natural resources and agricultural products! CRUDE OIL IS WHAT IS SUSTAINING MANY ARAB NATIONS.
Nigeria is very very rich, the problem is stealing, embezzling and corruption.

I wish I can send to you a bottle of beer. This is the only country where majority don't consider corruption and embezzling of public fund as a serious economic sabotage. When any corruption by a public officer is detected, people tend to think the money is their money instead of our money.

danowena:
Depends on where they got their info from. I bought at N1460 and felt cheated. even though i bought at N1580 on tuesday.

I pray it continues to appreciates as we hope the cabals won't fight back.

A good move to block the crypto sites. They were part of the problem with their speculation of rates. remaining finance sites like flywire, cadremit and co that helps in inflating the dollar figure for their own gain at our detriment.

this aboki fx website is back again? Giving updates on black market rates ?
I hope this website will not become be next fall guy for this govt after Binance . A Govt that is ready to blame everybody else apart from themselves .

Cantonese:
Even if the dollar returns to the Buhari rate, where is the hope that prices of goods will ever return to their former rates?

oga if dollar falls, price Will definitely fall.....the question is has dollar ever fall in Nigeria since 19000s

Elsueno:



You think they don't know dat?
Anyways we will see d effects of how d crypto exchanges bans in a few months.
What I find even funny is, even Luno way dey worship dis government & adhere to almost all thier requiest got banned as well

regulate not ban,datz if u have sense to understand

stano2:
No worry this one would still be shut down.
So people should signup because of your stupid referral bonus.
Show us more, so CBN will shut it down asap

This olodo is giving to much power to your dead CBN. they cant do shit, Binance just played an intelligent game on you jokers, they will open up p2p soon.

abobote:

It doesn't work like that

How does it work?

Emedu:



Mind you, Nigeria’s total trade in the third quarter of 2023 stood at ₦18,804.29 billion. Exports were valued at ₦10,346.60 billion while total imports stood at ₦8,457.68 billion, this was not felt in our exchange rate because of our high debt service to revenue ratio, high volume of printed naira in the name of ways and means. All these things are systematically taken care of to ensure the surplus naira is mopped up.

I believe there are good days ahead

Acidosis

U sef like stats...

Continue governing with propaganda

Dollar don rise to #1,627 this morning

DevilsEqual:



Acidosis

U sef like stats...

What am I supposed to do with the figures? Throughout Buhari's tenure, total exports far exceeded total imports. Why are you surprised?

Do you think those paltry figures, i.e. 18bn is the reason the Naira fell badly? That's Lagos state budget for 48 hours.

zionstaar75:
keep crying and wailing

you be idiot

RainMoreDFARMS:
This burger now nah gold for my area

ozo ndu umu ogbenyi
Mgbau ume.

Ibrahimcoomasie:


https://www.thecable.ng/naira-gains-at-parallel-market-trades-at-n1500

Rubbish

What you mean by appreciation streak
Tinubu met dollar at 700naira,until it gets below that,nothing is appreciating here

Emedu:
We are simply moving from a fixed (pegged) exchange rate to a managed floating exchange rate regime. Change like this often comes along with the high upward volatility we experienced some weeks ago.

With the aggressive efforts of the CBN, I strongly believe we are in the stage of stability; once that is obtained, we can then talk about appreciation of naira to fair value

Good days ahead.

Good days are ahead but we still have to deal with the structural problems. We are an import dependent country and our most valuable export is oil. We are even way below the OPEC quota. We Then there's the issue of oil theft we have to deal with. There's also the issue of maximizing the gains from oil derivatives, diversification of the economy so we can become less oil dependent. These are the issues we have to deal with before we heave any sigh of relief...

RainMoreDFARMS:
This burger now nah gold for my area

RainMoreDFARMS:
This burger now nah gold for my area

For the whole naija na gold

millionboi2:
why block them, when you can reach agreement with them not to give a rate above cbn rate.....common sense is truly not common

So who lacks the common sense? The group that should have been using the CBN rate in the first place or the CBN that is sanctioning them for malpractices they can't try in Europe and America?

lanre316:


Go ahead

thanks bro,I have been able to see 2 exchange platforms that still allow naira p2p trading

danowena:


So who lacks the common sense? The group that should have been using the CBN rate in the first place or the CBN that is sanctioning them for malpractices they can't try in Europe and America?

is only u and I that knows about the cbn rate because we are Nigerians, when you informed them,thy will implement it.

millionboi2:
is only u and I that knows about the cbn rate because we are Nigerians, when you informed them,thy will implement it.

Brighter Grammar highly recommended for you….