LifeofDream:

But when naira deprecate, they quickly increase the price of their product..

what would you do in their shoes

femisplash:

If PH starts production this month as promised, it'd futher endanger their speculations as dollars would futher crash. They'd rather sell off the old stock as fast, rather than the waiting game.

how much oil will PH produce. Govt cannot produce anything efficiently

But price of foods are still on high??

SoNature:


Keep lying to yourself, you hear?

https://www.arise.tv/nnpc-gets-3bn-loan-from-afreximbank-to-stabilise-fx-naira-gains/

Lol. Did you read your link to see that it was last year August 2023 they took this loan? Or you just wanted to spread misinformation.

alimiadedayo1:

pls get out of my d.m idiot

tophempire:
Naira is only surviving on borrowed dollar... In 3 month we should be back to 1800+.

Who wan bet


ABEG MAKE MUMU ADULTS NO MENTION ME AGAIN.

But this is what Jonathan and Ibrahim has been doing when d dollars was around 300 then ..

So why are u guys praising then over Tinubu's policies when he has removed subsidy??

So if he Tinubu can also start d borrowing which d masses didn't care then fine d dollars will be back

jetwonder:

But Prices of good is still high!
Government should look into this.

shows how our people are, quick to blame dollar and increase prices, slow to reduce prices when dollar falls

Cool piece. Only the daft,won't be optimistic about the CBN policies and the development around the rejuvenated economy. At least, some reasonable enterprenuers are now becoming happy they gave Asiwaju a chance. It hasn't been smooth sailing but some light is now appearing at the end of the tunnel.

GOD BLESS NIGERIA

WE RISE!

99thEnemy:

lets say you bought Garri at 500 naira per mudu last week to sell at 550 naira per mudu to make a fixed profit of 50 naira per mudu.

You still have the stock of Garri you bought last week and the price this week goes down to 400 naira per mudu where you buy to resell.

Will you start selling the garri you have in stock for 450 naira per mudu?

in my area when that happens and u refused to sell or lower, your garri go remain with u till e spoil.


Becox people will not buy from u again, they will go to where it is cheap.


And that's because of competition

NothingDoMe:
Lol. Did you read your link to see that it was last year August 2023 they took this loan? Or you just wanted to spread misinformation.

The deal was signed in August and the funds were disbursed this year. It's no misinformation. If Nigeria had that money, CBN wouldn't be owning them. It's good to be excited that naira is bouncing back but make sure you have all the facts.

https://www.afreximbank.com/afreximbank-announces-an-initial-disbursement-of-us2-25-billion-under-a-syndicated-us3-3-billion-crude-oil-prepayment-facility-sponsored-by-the-nigerian-national-petroleum-company-limited/

jetwonder:

But Prices of good is still high!
Government should look into this.

That's human behavioral system with time it will adjust

seunowa:

Clueless idiot, when naira was exchanging for 1850 to a dollar, someone like you was rejoicing and calling the government all manner of unprintable names.
But now that the government set out policies framework are paying off. You are bringing out another negative narratives that naira will collapse in less three months.
If naira doesn't collapse In three month then that doom will fall on your head...
Negativity about our country should be erased. Everyone should support this government to achieve greatness and prosperity. If these are sustained,in no time, fuel prices will go down, so also prices of commodities and food.

Most you of you are bereft of anything integrity. Support a man who stole election, injured people, killed people to get to that seat.

As much as I appreciate what is happening, even though I don't earn in Naira, I don't have a single support to give a thief who does not know how to do any other thing than to steal from people.

99thEnemy:

we are talking of the old stock bought at 500

I know.

If you sell the old stock at 450, as per your example. You can still get to keep 50 whenever you are restocking your shop because you will then buy again at 400.


Do you understand me now?

alcuin:


I know.

If you sell the old stock at 450, as per your example. You can still get to keep 50 whenever you are restocking your shop because you will then buy again at 400.


Do you understand me now?

No.

You bought at 500, to sell at 550 to gain 50 naira.

selling the stock you bought at 500 for 450 means you loose 50 naira.

Putindbutt:

True, i was at a pharma store and was told they would have to sell off the ones on shelf before they reduce price and that dollars have to be stable.

That's the problem, when dollar went up did they sell the goods they have in stock first before increasing price?

Good piece

tophempire:
Naira is only surviving on borrowed dollar... In 3 month we should be back to 1800+.

Who wan bet


ABEG MAKE MUMU ADULTS NO MENTION ME AGAIN.

Are your surviving on a borrowed brain

SmartMen:


Most you of you are bereft of anything integrity. Support a man who stole election, injured people, killed people to get to that seat.

As much as I appreciate what is happening, even though I don't earn in Naira, I don't have a single support to give a thief who does not know how to do any other thing than to steal from people.

Find better thing to do with your life..... You are empty

seunowa:

Find better thing to do with your life..... You are empty

says a clown. May Nigeria happen to you let see you maintain this stance 😂

Why is nigerian customs still benchmarking their rate @ 1,405 to $1

femisplash:
By a stroke of genius, the President had ordered the CBN be in charge of receipts of oil revenues, a departure from decade-long misappropriation of crude oil sales. It therefore enhances CBN's ability to stabilize the currency. The insinuation that CBN borrows to sell to banks and BDCs should be disregarded.

2. Clearing of $7billion backlog has done the economy so much good. Investors no longer have the fear of their funds being trapped.

3. Oil production is on a steady increase. Although, a component volume of it had been sold in the future, however, the significant increase in production is offsetting the shortfalls. Moreover, oil price is up.

4. The market is gaining back investors' confidence. Following MPC meeting in January, investors reacted positively, total foreign portforlio recorded $2.3billion in febuary, purchases of naira assets stood at $1billion, oversea remitances went up greatly, FG bonds was oversubscribed, all these helped create more liquidity and increases market supply.

Naira was considerably undervalued due to investors losing confidence in the trajectory of Nigeria's political landscape, reason why it is too early to attribute recent gains against Dollars to any CBN policy.

CBN policy can only be said to be working if Naira is now trading for a considerable period of time at the price pre-floating of the foreign exchange market.

replacement cost nko?

Yelight:


That's the problem, when dollar went up did they sell the goods they have in stock first before increasing price?

helinues:
The manipulators have been sent out. Naira would gain more strength soon, the exchanged rate even outside the country is reducing.

Good news for sane and patriotic Nigerians, bad news for the enemies of progress and development of Nigeria

But food prices never still come down. Oga please help us beg them to reduce the price of foodstuff

alimiadedayo1:

you are completely right I appreciate that you acknowledge some facts in the context of this situation.. Do you know the propaganda run today that dollar was sold 900 to 1000 in the morning in abuja is fake and has been debunked, you see this government is run by propaganda and they exempt themselves from any blame that is the problem I have with this government..They don't want to take any responsibility for anything

I don’t and never trust this government and the jury will forever remain out on them

Naira will gain more, I pray the refinery start to work soon.

rosco1404:
replacement cost nko?

As in?

maestroferddi:
That is partially correct.

But what should a responsible government do when it has seen that certain people are taking advantage of the imbalance in the system to shortchange consumers and subject the populace to untold misery?

Tinubu is not forward-thinking...He is too reactive.

We cannot continue to suffer for the cluelessness of these leaders.

You want people to start dropping dead all over the place befiore you do your job?

Nigerians are being asked to be patient.. But only the living can be patient...

IPOB and hate.. You can never satisfy them.

IPOB are the only ones rejoicing when the Naira was sinking, bow they are in pains that Naira is apreciating.

femisplash:

Manipulators like Binance have been shut out, anyone thinking there will be a massive slump is making a big mistake of his life. This crop of CBN executives led by Cardoso are the real MVP. Hoarders beware!

Thank God Baba Emile O'Corn dodged a bullet by appointing Cardoso Michael instead of Kadoso Mutairu aka seunmsg, the Buhari lover.😜

femisplash:

"it is better to remain silent and be thought a fool than to talk and remove all doubts".

Then best comment of the year!

Ww hope this prophesy will be a reality id ₦20 to $1

jetwonder:

But Prices of good is still high!
Government should look into this.

Wainey:
most of these people bought at N1800 to a dollar, they will have to sell off their products.

Btw, I expect the real value of the naira to be around 800

around 700 based on our balance of trade

femisplash:

Manipulators like Binance have been shut out, anyone thinking there will be a massive slump is making a big mistake of his life. This crop of CBN executives led by Cardoso are the real MVP. Hoarders beware!

Hold on here. Binance indicated that the total amount of USD that has passed through them from Nigeria is only 25 million, but government is claiming 26 billion. So clearly the government is trying to give a dog a bad name to hang it, because anyone who asks why Ribadu is after the list of Nigerians using Binance will clearly see that the ruse of Binance causing the naira slump is a cover to do Investigations into terrorist financing. Because clearly Binance funneling 26billion is clearly a lie.