ednut1:
Dollar is dropping. Why are prices not dropping?

Until droppings becomes consistent for a period of time

SoNature:
These members of Association of Past Criminals think that they can achieve everything using lies, deceits and propaganda. 😂😂😂😂

The funny thing is that when you debunk their lies, they start calling you the enemy of Nigeria. I don see them finish!

Omo, the thing just funny.

Na today I actually believe some people on Nairaland are paid by APC. Like TF? It was so obvious

Lmao! APC and Tinubu propaganda is too stale.

When dollar rise ,it will go up by #300 at once. Then our useless naira will be chasing it by #2, #5, #3 and our newspaper will b saying naira is appreciating.

When dollar is rising ....people keep giving high fake rate ...so it's payback time ....

ednut1:
Dollar is dropping. Why are prices not dropping?

Good question. When dollar was soaring, goods were produced or imported at high costs. They need to be sold out first. You can't buy or produce a commodity at NGN50 for instance and want to sell it at 30 naira just because the dollar has fallen. Until those goods are exhausted from the various storehouses, their prices will remain the same.


Before Nigerians can actually feel the impact of the appreciated naira, hoping it continues, it will take a quarter or more, becasue naira had hit the rocks since tinubu floated it in May 2023.

If he can manage to bring the naira down to 702, which was the value he met it at the parallel market, the economic improvement will be rapid .

socialmediaman:


The same lies. The same propaganda.

Take the naira back to where you met it, then you can celebrate any gain from that point. Nigerians will not eat lies

This government and the people running it have caused untold hardship and suffering on Nigerians since 2015

If you like commit suicide, because of your hatred for the President and the failure of Obi.
Nigeria will move forward and you will be forgotten.

Paraman:
Tinubu is doing absolutely well. Naira is gaining against the dollar, pounds and euro. Inflation will start falling in may, the refinery will soon start working... so Tinubu is doing a very good job

In

Inflation caused by who?,How much was the $ when he came into power
Only a fool believes nd cheers some1 who took $ from 750 to 1500+ within a space of 8 months nd is now trying to bring it to 1300

For $ to increase from 750 to 1500 within the first 8 months of his administration is a mess of its own nd any sane person will criticize him for that except only his online paid zombies.

I remembered when dollar was once at #350.
Now they are arguing on 1k or not 1k

Tinubu and propaganda government

The funny thing is that most people shouting and saying it's propaganda this and propaganda that .....those people have not seen dollar in their entire life. Intact except the fake Dollar bills they see pasted on Dando and Keke Napep, they haven't see it in real life.

ednut1:
Dollar is dropping. Why are prices not dropping?

Simple economics, most producers uses diesel to power their engines for production and preservations, and goods are mostly transported with diesel engines. If the dollar is #1 Naira and diesel price refuses to drop with at least 20% margin the dollar rate won't help to cub the inflation
The second factor is that Nigeria's GDP is not matching up with the money in circulation, the gap between the GDP and the money in circulation is about 73% and that is the CBN is increasing the interest rate.
If these conditions are not met inflation is not coming down soon . And I am afraid that the dollar rate is artificially subsidized by the FG with the rate at which the dollar is reducing the pump price should follow because Nigerian economy is been driven by crude products.

ChiefOloye:

If you like commit suicide, because of your hatred for the President and the failure of Obi.
Nigeria will move forward and you will be forgotten.

Ppl like u that are happy abt the rotten condition of the economy of Nigeria nd attack anyone who dares to point out the hardship is the real enemy of Nigeria

ChiefOloye:

If you like commit suicide, because of your hatred for the President and the failure of Obi.
Nigeria will move forward and you will be forgotten.

Ronu
how much did your emilokan met dollar? how much is it now? how much did he met the price of goods and services? how much is it now?

ChiefOloye:

If you like commit suicide, because of your hatred for the President and the failure of Obi.
Nigeria will move forward and you will be forgotten.

Calm down Oloye, we all love Nigeria cos we have no other home. If truly tinubu can at least bring the naira back to 702 which was the parallel market rate as at may when he took office, the economy will improve rapidly. That's the truth. Once he can do this, then we'd all (including yourself) feel the impact , yes or no?

JohnAOne:
I immediately changed £1280.20 (about $1689.80) on Monday when CBN was selling to BDC at 1251.

$ was 1443.18 when I changed, now $ is about 1300.

If I didn't act, I would have lost more than 150k

Dem no dey tell person!

If you like (at this point in time ⏳) continue to hoard...

Na so my 150k take loss o although I be don get better gain prior the loss so I no too reason am

Dvdpity:

Nigerian consumer protection council ain't doing their work. They should all be sacked. This is what developing countries do, by setting a price range for various goods and services on prevailing economic conditions and developments

Are the mentioned still functioning in carrying out their duty? Hell no

VIKTO83:
The funny thing is that most people shouting and saying it's propaganda this and propaganda that .....those people have not seen dollar in their entire life. Intact except the fake Dollar bills they see pasted on Dando and Keke Napep, they haven't see it in real life.

Many ppl dnt need to see it before talking abt it cox most basic things they need is controlled by how high or low the $ rate is

Contrary to the report making the rounds on social media, Bureau De Change operators said there was no truth in reports that the dollar is now selling at N1,000 at parallel market.



Animal, u mean u don't want it to be sell below #1000 , I am sure u are one of bad once that was using dollar to terrorise us on this country.

Just came from a local bar and the lady sold me trophy for 800 and sprite for 400.while I got gas of 5k at 670.despite dollar drop. We are all thieves and greedy bastards

ednut1:
vendors had not restocked but they immediately increased price for old stock. Now it has reduced they should reduce too

They will tell u the current price is high
That if they sell low.
They won't be able to restock.
That's why prices will never go down regardless of the dollar depreciation..

ednut1:
Dollar is dropping. Why are prices not dropping?

Because Nigerians are evil and greedy

I saw a post yesterday price of diesel had gone down to 900 per liter. See as I joy yesterday. Na so my people ordered 300l from the supplier. I asked how much. My person said 1500 per liter. That was how I halla they say them wan hammer me local. I told them it was 900 at Nnpc. They were shocked. I said we should drive there. Omo, see embarrassment, it was 1490. Lol

socialmediaman:
Propaganda is the hallmark of this government!

If after lying to you for 8 years that Buhari was doing well, they came back again claiming that Tinubu was cleaning up Buhari’s mess, and you still believe anything from them without demanding to see the evidence, just go and collect your award, you’re a certified zombie

End of Story!

I laughed out loud the moment Tinubu said he will clear the mess of Buhari during his campaign ......only to get nervous when Northern Fulanis attacked him that he made an error..

But am wondering how some people decided to support Tinubu, who never condemned the bad government of Buhari only when he was sure the Presidency is cleared for him.....lols

Some Nigerians are really the problem of Nigeria.....

Give a Namibia or Senegalese man this Nigeria , he will surely surprise us ...

socialmediaman:
Propaganda is the hallmark of this government!

If after lying to you for 8 years that Buhari was doing well, they came back again claiming that Tinubu was cleaning up Buhari’s mess, and you still believe anything from them without demanding to see the evidence, just go and collect your award, you’re a certified zombie

End of Story!

Your pain is noticed dear. I know all ur expectations is for this country to crumble because of Peter Obi but thank God Nigeria will get it right soon. For ur information, Peter Obi is gone with the wind and can never be president of this country. That's the bitter truth. The earlier u understand this the better.

Paraman:
The naira was devalued twice and presently undervalued so relax.

People like you boasted the exchange rate will be 3000/$ by this time.

Do you know what you are saying? The naira was devalued twice which means fed govt and cbn deliberately choose to wreck the economy while folks like you were shouting market forces. Tell oga tinubu to revalue it twice back to 700

Lies and propaganda

ednut1:
Dollar is dropping. Why are prices not dropping?

It doesn't work that way.
If u bought goods when dollar was at increased will u sell lower because dollar has fallen or u will sell to make gain.

Before prices of goods can be reduced it takes awhile because people need to sell their old stock.

Dvdpity:

Nigerian consumer protection council ain't doing their work. They should all be sacked. This is what developing countries do, by setting a price range for various goods and services on prevailing economic conditions and developments

Doesn't work that way... Nothing is that simple.

You want to set and peg prices... Have you pegged various costs of doing business?!!

If you can't control rising costs of businesses in general, then you have no business controlling prices.

Bazztadewu:
Just came from a local bar and the lady sold me trophy for 800 and sprite for 400.while I got gas of 5k at 670.despite dollar drop. We are all thieves and greedy bastards

Pls am interested in this statement......

You mean you got 1kg gas @ #670 or what pls

JohnAOne:

.....Dem no dey tell person!
If you like (at this point in time ⏳) continue to hoard...

😂😂😂

Immediately I saw it ,I knew it was a fake message.
Dollar gradually going down but not at a fast rate . Let naira continues to appreciate.