Amotolongbo:

N2050 is not a record low.
There was a time it was more than 2,300naira for a pound

Whatever!
It was Dollar( $) comparison but now Pound Sterling - meaning, you guys don't do any investigative reports,other FOREX comparison! But for what?
We must Produce what we need in Nigeria-to break away from these Nonsense Comparisons of Currencies!
-America, Chinese And even European Countries don't have time for the game of Naira and Dollars we play here in Nigeria and even on Social Media!
If we are Constantly Producing Goods, and Our Supply is far above our Demands,we earn good Forex but for now,it's order way round because we ,the Govts - including Governors -are too lazy to think outside the Box-for our Youths to Productive and busy!
All of us -are just on FOREX or on Crude Oil - Not as Producers but we just want to get the Money and used it against our Country!

It will continue to depreciate further as the floating of naira persists

I thank God for my pattern of voting since 2007 til date .

It's well.

Binance

Except for money laundering and p2p for speculation according to FG, they should have left direct deposit of Ngn, people will make profit and still convert back to naira to spend aiding our economy. My layman thought

Dshocker:
Binanace delisting the NGN from its platform will only strengthen the NGN temporary.

Agbadorians don know what is going on let them rejoice over the temporary messures

Nonsense sensationalization.
So you want pounds rate to deceive people and riaise their tension,as if it is dollar rate you are showing? You guys should stop working against your nation,because you are working against your downfall.
DOLLAR TO NAIRA IS DOWN TO 1560 TODAY,GODWILLING IT WILL KEEP GOING DOWN FAST AND STABILIZE IFSHA.

ppogba:


Everyone knows these.
Easier said than done.
Which government doesn't know that it should fix the economy?
Is this one not trying to fight inflation?
Everyone knows we should support local businesses.

Copy and paste theory.

Buhari printed 23 trillion. Tinubu printed more immediately dey enter. I composed my message and I don't do copy and paste. I know u be apc urchin

Dreamhighnow:


Buhari printed 23 trillion. Tinubu printed more immediately dey enter. I composed my message and I don't do copy and paste. I know u be apc urchin

You have not said anything new and neither have you assumed wrongly that I am an APC Urchin.

Unfortunately, you did not answer the questions I asked.

Dreamhighnow:
After fighting binance. The brainless FG will soon blame the air we breath for their failure. Se na only naija dey use binance. Why is their currency not crashing

1.Reduce inflation
2.Fix the economy
3.Bring back good security to the country
4. Reduce inconsistency in government policies
5. Genuinely fight corruption ( I forget say the head himself is corruption personified. Spit)
6. Stop printing naira indiscriminately
7. Genuinely support local producers
8. Genuinely finance and monitor farmers
9. Roads and power should be a priority
These among many

See economist that is not on the list of young billionaire

Goddamn! Yesterdays news of 'Naira Depreciates To N1,620/$ At Parallel Market' on Nairaland hasn't even reached second page yet already we are slapped with a new depreciate update .

Babysho:


It'll go down only when our govt subsidises goods and services or we meet the prices by increasing minimum wage.
Nigeria is a CAPITALIST country, prices of things in need can NEVER go down on its own. No Capitalist like Dangote who likes maximum profit will ever reduce price of salt because you're going through rough time lol

Knowing Nigerian govt, they'll never do anything. We'd have to either wait for competition or everybody just somehow gets use to working like slaves.

how will increasing minimum wage reduce prices of goods and services?

Mccullum:



See economist that is not on the list of young billionaire

is it all economists that are on the list of young billionaires or is being an economist a license to be billionaire?

This is only the effect of imposing on BDCs the rate rate that they must sell the dollar so it is an artificial forced and unsustainable "gain" Wait a couple of months and the BDCs may be forced to ignore the directive or go under, and the Naira value would crash again.

Man102:


https://nairametrics.com/2024/03/05/breaking-naira-depreciates-by-7-32-to-n2050-against-great-british-pound-at-the-black-market/

lexy2014:


how will increasing minimum wage reduce prices of goods and services?

Reread. I said and quote " or we meet the prices by increasing minimum wage" meaning the prices are still high but now affordable.

No need sef, not like our govt will ever do anything for the people.

Binance whyyyy

SwayG:
I see a lot of persons Applauding Tinubu Government for the recent naira gain against dollar.
It shows we don't understand why Naira will never stop depreciation.

Nigeria is a dependent country.
Any country that imports 80% of their basic needs will face high level of currency depreciation. This is the case of Nigeria. We import almost everything we use. Gas, Rice, electronics, fish, some food, gadgets, raw materials etc. And we do not export. We don't have a balanced structure here of import against exports.

The demand for dollar is high and will continually go higher.
A lot of businesses import their goods. They need dollars.
A lot of Nigerians now want to study abroad or japa. They need dollars
Even Dangote recently announced that he will start importation of crude oil. Demand for more dollars.

It's a simple economic problem. When Demand is higher than supply it results to scarcity and inflation. Scarcity results to sporadic inflation.

Look around you. 6yrs ago, how many persons do you know who went abroad or japa. Very few or none.
But now, within the last 4yrs you probably know a lot of persons who relocated abroad or either schooling there.

Can you boldly point out 4 persons who relocated from other countries to Nigeria? Or come school here?
Thereby converting their currency to Naira.

Stop expecting dollar to depreciate.
Whatever they (government) are doing now is a short term solution.

The only solution is to fully repair the country by Increase production, manufacture, exportation, reduce demand and most importantly to increase available jobs.

Please sound it loud for most of the ignoramuses here to read well and understand.

Helpfromabove1:
Abeg no confuse person

Dollar is diff from pounds

Some are already mixing it up and you know alm these markets women they will start increasing prices thinks it dollars

True

GBP is stronger than dollar but if it can't be stable against GBP

It is unlikely to be stable agst dollar.

Life of the naira, one step forward two steps backwards

Confusion with Nairaland moderators, why bring in dollars ($) you are actually talking about pound (£)? None the less N2050/1£ is a senario waiting to happen! Nigeria is a doomed Country - a Pound (£) hitting for more than N2,000 is fearful. What can one import with that rate to make profit? Certainly none!

[you know the problem sir, once above is not fix there is nothing the can do to stabilize the economic.quote author=Dreamhighnow post=128787464]After fighting binance. The brainless FG will soon blame the air we breath for their failure. Se na only naija dey use binance. Why is their currency not crashing

1.Reduce inflation
2.Fix the economy
3.Bring back good security to the country
4. Reduce inconsistency in government policies
5. Genuinely fight corruption ( I forget say the head himself is corruption personified. Spit)
6. Stop printing naira indiscriminately
7. Genuinely support local producers
8. Genuinely finance and monitor farmers
9. Roads and power should be a priority
These among many[/quote]

They have dumped dollars and start wailing on pounds.

TrennixGLOBAL:
I have said it countless times and even now. Buy as much dollars as you can now, buy the dip on naira cos 2000/$ approaching.

https://www.nairaland.com/8018607/buy-dip-naira-now-1800


What do you expect from a clueless government going around in circles confusing ignorant Nigerians (not me) and leaving the main problem untouched?




Regardless, forget Binance and lets help you convert your crypto funds to any foreign currency you need.

https://www.nairaland.com/8015684/withdraw-crypto-coins-skrill-funds-naira

These nonsense you call a 'Hustle" is no longer enough that you do it, must you promote it ? are you genuinely looking out for people to make a living or you need large forces so you can all put down the Naira nd make lazy man profit.

Where in the world does a citizen buy foreign currency to keep against the local currency , can an American buy pounds pray night and day for dollar to fall so he can oppress his neighbours, or is chinese that will buy dollar n keep anticipating Yuan must fall
Things that happen in these country are evidences that Nigerians are mad esp. the elite class, naa yabaleft you suppose dey

when everyone wants to save there money in dollars in a Naira economy why won't the naira fall worsen .. yet people like you go follow blame govt for everything

Amotolongbo:

N2050 is not a record low.
There was a time it was more than 2,300naira for a pound

YEAH, I REALLY GOT SOME PALLIATIVE THEN.

lol


no structure or export. depending on binance, abokifx to stabilize naira. how can I laugh in a way that pleases God

Cardoso the clu.eless

Amotolongbo:

N2050 is not a record low.
There was a time it was more than 2,300naira for a pound

Why did you not charge your phone? Wwwhhhyyy

omoredia:
When the head is bad u can never get anything right. It's as simple as that

Mr. head, does the body (nigerians) even look good, yesterday i wanted to buy mimee chin chin, and the aboki in my area called it #200 these is something sold at #120 at wholesales price then #150 for retail

it is just like some traders are just happy and enjoying the daily hike in prices .... leaders aside people to people are we good to ourselves no be exploitation we they do ourselves.

Head is bad, body self they smell rotten

chidiokay:


Mr. head, does the body (nigerians) even look good, yesterday i wanted to buy mimee chin chin, and the aboki in my area called it #200 these is something sold at #120 at wholesales price then #150 for retail

it is just like some traders are just happy and enjoying the daily hike in prices .... leaders aside people to people are we good to ourselves no be exploitation we they do ourselves.

Head is bad, body self they smell rotten

Then why not go and buy the wholesale and rest? U don't have an alternative and u are complaining? What brings down price? Life is not a charity we are compelled to make profit than to do charity.

/

Paid vuvuzelas are looking for any glimmer of hope to celebrate their delusion.

Just few days of minor appreciation in Naira, they will go to town singing.

The truth is very glaring--Nigerian economy has been run to the ground by a team of opportunists and
ignorant political appointees of Tinubu. Naira cannot be saved by wishful thinking.

/

PARADIZEPRIEST:
Nonsense sensationalization.
So you want pounds rate to deceive people and riaise their tension,as if it is dollar rate you are showing? You guys should stop working against your nation,because you are working against your downfall.
DOLLAR TO NAIRA IS DOWN TO 1560 TODAY,GODWILLING IT WILL KEEP GOING DOWN FAST AND STABILIZE IFSHA.

God bless you bro!
These guys parading the Social Media are real enemies of Nigeria, doing Nothing,yet telling you and running Traffic on Social Media..- Dollars, Pound Sterling is this,high or low?
Who gives a Bleep but being jobless, without any Production is understanding!
Shame!