Naira Appreciates To ₦‎1,280/$ At Parallel Market - Business (5)

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,155,553 members, 7,827,072 topics. Date: Tuesday, 14 May 2024 at 06:17 AM

Naira Appreciates To ₦‎1,280/$ At Parallel Market - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / Naira Appreciates To ₦‎1,280/$ At Parallel Market (29213 Views)

Naira Appreciates To N1,250/$ At Parallel Market / Naira Appreciates To ₦‎1,650/$ At Parallel Market / Naira Appreciates To N756.61/$ On Investors & Exporters' FX Window (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (11) (Reply) (Go Down)

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by benqo01(m): 7:59am On Mar 30

Yet prices of goods re not coming down

1 Like

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Edoreborn: 7:59am On Mar 30

Just googled it now,,na 1425 I saw oooo

1 Like

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by FireUpNow(m): 7:59am On Mar 30

Yet prices of goods and food commodities are rising up and up more. Scam

1 Like

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by 99thEnemy(m): 8:00am On Mar 30

socialmediaman:
This government is full of propaganda.

Here’s your proof:

https://www.nairaland.com/8046241/fact-checking-numbers-cbns-announcement

Summarize your proof cool

2 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by YourKarma: 8:01am On Mar 30

Johnjustice:

It is Igbos pushing Nigeria backwards, Nigeria is moving forward it is ipob land and Northern Nigeria that is killing themselves. Continue killing yourselves in the dot, you can go and hide in there, stop parabulating everywhere like refugees and scums.

Shhhh.....so Igbos are pushing Nigeria backwards while they've never been at the helm of affairs since independence?

Do you now see why everyone says Yorubas are snakes and serpents? You imbeciles are the problem of this country. Your tribe has NEVER risen above petty ethnic sentiments, that's why you always support stupid people and the people you support tend to always have nothing to offer. Your tribe is the most hateful, spiteful, devilish and domineering tribe in that shit hole but you always try to shift the blame to someone else, which is what you tried to do in this post. The only grouse you have against the Igbos is that they seem to be doing well despite everything, and the fact they never back down despite all your bullying.

Even Sanusi knows this. Just take time to read this screenshot and tell me if anything Sanusi said here is a lie

https://pointblanknews.com/pbn/exclusive/yorubas-are-the-problem-with-nigeria/

1 Like

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by nairalanda1(m): 8:02am On Mar 30

MrSundry:
I expect 4 sets of people to land on this thread:

1. The "dollar should go back to the #600 it was before the floating" crew;

Until NIgeria starts exporting manufactured and processed goods, the dollar is not going back to N600, or even N1 to one dollar. It's impossible to do that without excessive subsides.

2. The "enemies of Nigeria won't be happy with this news" crew;

Many of them should also realize that the naira being at N1000 and above is a sign that the economy is in a mess, and that their party has done nothing about the mess. Their party has had their hand forced, which is why the subsidy on forex is gone

Also, see my previous point.

3. The "when will the prices of goods reduce" crew.

They want price controls. And as the fate of the USSR can tell you, price controls SO DO NOT WORK.

4. The "non- partisan and unbiased news reader" crew.

Anyway, if you want a strong currency, you do what the strong currency countries do...industrialization and export of industrialized goods. You don't do what this government is doing...cosmesis..or what past governments did...cosmesis by another means.

2 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Omalicious1: 8:04am On Mar 30

dre11:

https://www.thecable.ng/naira-appreciates-to-n1280-at-parallel-market/amp?/naira-appreciates-to-n1280-at-parallel-market

But despite this...the price of commodities haven't reduced. Most people are now claiming that they want to finish the "old stock"

4 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Azazyel: 8:04am On Mar 30

socialmediaman:
This government is full of propaganda.

Here’s your proof:

https://www.nairaland.com/8046241/fact-checking-numbers-cbns-announcement

Even if 1 dollar becomes 1 naira, you'll always shout "propaganda". Would you shout propaganda If your preferred candidate was in power?

5 Likes 1 Share

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by nairalanda1(m): 8:04am On Mar 30

YourKarma:

Look around you, other African countries have left you behind. Since your independence in 1960 your country has been retrogressing and you daft dolts keep accelerating that process by voting useless people into power.
Yorubas and Hausa has been ruling this country into the pits. You should be ashamed

Actually, most African countries south of the Sahara are no better than Nigeria. No, I am not defending any yeye government...it is because most of them run what is called resource dependent economies.

And the resource dependency means that because of the fluctuant prices of your resource of choice, you are prone to go into more and more debt.

Yes, and most African countries are not run by Igbo, hausa or yoruba...either.

1 Like

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by omooba74(m): 8:06am On Mar 30

I dey gbadun you jawee.All enemies of Nigeria progress will be physically and spiritually shamed. Awon olofooo...

Basic123:

No...we are focused on the two of you.

Both the government and evil wishers.
Will will focus on the government and the same time we will be shaming you evil wishers when the government action pays off.

We will not live you alone

5 Likes 2 Shares

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Rousehil1(m): 8:07am On Mar 30

I went to buy tomato yesterday. The cost are still high whereas dollar is falling. What's the cause?

2 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by nairalanda1(m): 8:09am On Mar 30

Rousehil1:
I went to buy tomato yesterday. The cost are still high whereas dollar is falling. What's the cause?

Tomato is transported by diesel trucks, and diesel is not subsidised, and hasn't been for almost 10 years...unlike petrol. DIesel prices thus have been rising.

Also, like you, the tomato farmer is affected by rising cost of living...so he has to earn more money.

Prices go up as a result.

4 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by YourKarma: 8:09am On Mar 30

nairalanda1:

Actually, most African countries south of the Sahara are no better than Nigeria. No, I am not defending any yeye government...it is because most of them run what is called resource dependent economies.

And the resource dependency means that because of the fluctuant prices of your resource of choice, you are prone to go into more and more debt.

Yes, and most African countries are not run by Igbo, hausa or yoruba...either.

That's because those ones are plagued by the same stupidity holding Nigeria down.

Tell me how a country as blessed as Nigeria is, should still be a third-world country. We have more diversity mineral resources than 90% of the world but we're still a shithole, and going by what is happening, will continue being a shithole.

A Emirati colleague of mine at my workplace in Houston once told me Nigeria should be at a higher level than UAE considering we gained independence at same time and we're more blessed than UAE, and that hit me hard

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Elliotwaveforec: 8:11am On Mar 30

JoshTim:

It will take time before food prices come down. Understand simple economics. The recovery rate of prices Is slower than the recovery rate of naira because inventory stock up at the old prices will have to be sold first based on First in First out basis.

Hmnn! FIFO, LIFO, LILO, FILO - Accounting terms

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Ebubu2: 8:11am On Mar 30

When the Afrexim bank borrowed dollar used to cushion Naira to 1,200 is exhausted, what is going to happen ?

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Ebubu2: 8:12am On Mar 30

nairalanda1:

Tomato is transported by diesel trucks, and diesel is not subsidised, and hasn't been for almost 10 years...unlike petrol. DIesel prices thus have been rising.

Also, like you, the tomato farmer is affected by rising cost of living...so he has to earn more money.

Prices go up as a result.

why are they particularly transported by diesel trucks? What can diesel truck do that fuel truck cannot do?

2 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by tunjiajayi: 8:13am On Mar 30

socialmediaman:
This government is full of propaganda.

Here’s your proof:

https://www.nairaland.com/8046241/fact-checking-numbers-cbns-announcement

When last did you see, touch or have you ever traded in dollars?
Just open you mouth and yansh waaa like buffoon.
Call your local aboki today and ask him.

Or where you stay, aboki no dey cause no prospects of dollar trading dey where you dey.
Abi na the other scrap dealer aboki you dey deal with? Probably so.

4 Likes 1 Share

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Rousehil1(m): 8:14am On Mar 30

nairalanda1:

Tomato is transported by diesel trucks, and diesel is not subsidised, and hasn't been for almost 10 years...unlike petrol. DIesel prices thus have been rising.

Also, like you, the tomato farmer is affected by rising cost of living...so he has to earn more money.

Prices go up as a result.

then the govt should on the price of fuel.

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by omooba74(m): 8:14am On Mar 30

I dey follow u bumper to bumper,you are doing great,very apt reply,thumbs up...

Basic123:

No..the real evil wishers are the people who support the fraud below.

People that called our beloved country zoo for good 12years but suddenly become lovers of the zoo because they want their fraud and failed son to be president.

People that lambasted him as the worst governor ever but packaged him as the president.

4 Likes 1 Share

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by lexy2014: 8:14am On Mar 30

Abdul05:

I Know some people won't be happy about this good news ..

See..when we talk about economics one can see that president tinubu knows the sudject very well .

am glad you say he knows the "sudject" of economics and not the "subject" of economics.

pls what is the rate of inflation in the country today compared to what it was he assumed office?

what is the level of employment as well?

what is the standard of living today compared to when he assumed office?

1 Like

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by LordBillionz: 8:15am On Mar 30

Isn't this amazing how people want Tinubu to be appreciated for something that shouldn't happen in the first place.
He met dollar at 700, pushed it to almost 2000 and now through trial and error which will soon be subjected to true test by market forces and he wants to be praised that it returned to 1280?

This same Tinubu and his APC bad mouthed Jonathan and PDP and amplified every of Nigerian's problem during PDP's reign and he should be praised for what exactly?

2 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by lexy2014: 8:15am On Mar 30

tunjiajayi:

When last did you see, touch or have you ever traded in dollars?
Just open you mouth and yansh waaa like buffoon.
Call your local aboki today and ask him.

Or where you stay, aboki no dey cause no prospects of dollar trading dey where you dey.
Abi na the other scrap dealer aboki you dey deal with? Probably so.

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Druss(m): 8:16am On Mar 30

580 naira left to go ..

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by lexy2014: 8:16am On Mar 30

Azazyel:

Even if 1 dollar becomes 1 naira, you'll always shout "propaganda". Would you shout propaganda If your preferred candidate was in power?

1 Share

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Ola9ja23: 8:17am On Mar 30

I wonder why our IPOBidients are sad this early morning

They said Asiwaju should take it to where he met it and the Naira is heading towards the 700 yet they are still crying

I never see such unpatriotic elements as this fake lost balck Jews

They just want Nigeria to crumble only bcs their mumu fraud candidate lost an election

5 Likes 1 Share

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by zedman1(m): 8:17am On Mar 30

MrSundry:
I expect 4 sets of people to land on this thread:

1. The "dollar should go back to the #600 it was before the floating" crew;

2. The "enemies of Nigeria won't be happy with this news" crew;

3. The "when will the prices of goods reduce" crew.

4. The "non- partisan and unbiased news reader" crew.

They are all here. It's funny how the one just below your comment makes you look like a Nigerian prophet.

3 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by lexy2014: 8:18am On Mar 30

WeddingParol:
Those praying for Nigeria to fail will not like this news.

All their states are filled with corruptions and non performing politicians but they careless about that.

They filled all the social media platforms with hate and negative narratives about Nigeria 🇳🇬 publicly praying for the country leadership to fail.

Don't worry, you will all reap what you sow.

has Nigeria succeeded or has it failed?

if you say that some people's states are "filled with corruptions and non performing politician", is that a positive thing about Nigeria?

if you say that "their states are filled with corruptions and non performing politicians", why are you now complaining that they are saying "negative narratives about Nigeria 🇳🇬 publicly"?

this comment about "corruption and non performing politicians, is that not you now coming on social media and saying "negative narratives about Nigeria 🇳🇬 publicly"?

is your comment about "non performing politicians" not an indication that leadership of the country and in the country has failed?

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by nairalanda1(m): 8:18am On Mar 30

YourKarma:

That's because those ones are plagued by the same stupidity holding Nigeria down.

Tell me how a country as blessed as Nigeria is, should still be a third-world country. We have more diversity mineral resources than 90% of the world but we're still a shithole, and going by what is happening, will continue being a shithole.

A Emirati colleague of mine at my workplace in Houston once told me Nigeria should be at a higher level than UAE considering we gained independence at same time and we're more blessed than UAE, and that hit me hard

Well, we are plagued by third wold issues because

1.IN 1960 when we got independent, our leadership, all of them had a problem...a very large poor underclass and a very tiny middle class and an even tinier upper class, plus mass illiteracy, and poor government services outside the cities.

2.The government had two choices

a) Allow the free market and industrial development do its thing, and maybe we reap the benefits in a generation or two, but most people are poor for now.

b) Embark on a mass expansion of government services, and subsidise as much as possible.

We chose B. It worked..somehwat. But this meant that a lot of money needed to be spent...and quite often far more than we had...so we had to take loans.

Also, it meant that government over time became more dependent on revenue from 'whatever raw materail we sold' and less on revenue from taxation and export of industrial goods....and it was always not enough because of price crashing....take more loans.

Here we are. Same thing in many African countries . Even Egypt has had to take loans like mad recently, and was rejoicing over an 'investment' from the UAE this past week.(which i am highly suspicious of, nothing goes for nothing in this world).

Even nice looking countries like SA have a similar issue.

The way forward really is free market and industrial growth and development. But as china, south korea and even Japan and germany and many other industrial countries can tell you, it takes time, and a large proportion of your populaiton would be in poverty for a while. SO, we choose subsides and more subsides and more loans when the subsides are too low.

And what we have chosen makes corruption more easy and feasible..because he who controlls the money controlls the sharing. Remember most of our money does not come from tax. It comes from whatever raw material we sell...

That's why we can't advance, and why many African countries cannot advance. We don't want to take the hard road of free markets and industrial growth because we had a large poor population at the start and telling them that their suffering continues, after selling independence to them and black majority rule to them on the grounds that 'you would have more money from our nation's riches'....you see the point.

3 Likes

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by gigabyte13: 8:19am On Mar 30

Bp for the enemies of the nation
Una mind no go touch ground

2 Likes 2 Shares

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by redsun(m): 8:20am On Mar 30

What's this madness about naira appreciation against the dollar in a country that can boast of an average of two hours electricity a day? A country that is technically still in the dark age is worrying about the strength of it's worthless currency in an an unproductive system

Why not prioritise on the real challenges of building the basic infrastructures before worrying about where the country's currency s sits on the global stage. People are dying of heatwave and waterborne diseases, yet they are busy spinning the hard earned foreign exchange in fruitless efforts to save face.

I don't get it There is no magic wand to enhancing the strength of naira other than the country becoming more realistic and productive. The leaders should stop stealing the resources and start using it to develop the country.

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by Dennisochampa: 8:20am On Mar 30

socialmediaman:
This government is full of propaganda.

Here’s your proof:

https://www.nairaland.com/8046241/fact-checking-numbers-cbns-announcement

So what if things have gotten worse..
Let's say you wake up and meet dollar selling at N2,500, what will be your reaction?
No one is celebrating mediocrity but this time last 2 months, it was worse than this and that's the point...
This post is not meant to say that the economy has fully recovered, but it means that there is real hope that things will improve.....

5 Likes 2 Shares

Re: Naira Appreciates To ₦‎1,280/$ At Parallel Market by lexy2014: 8:20am On Mar 30

emkz:
No, Rufai Oseni won't be happy.

It is because of this Rufai Oseni did not come to work yesterday.

I have not seen a human being so vile, hateful and peddles evil about his own country.

if you say Rufai is all of the above just because he complained that dollar has become N1600 to a naira, how will you qualify APC when they said this below?

2 Likes

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (11) (Reply)

Man Makes Strong Case For Pure Water Hawkers / Nigerian Man Seen Using Juju As Desperate Measures To Boost Sales / Foreign Payments With Naira ATM Cards Suspended By Zenith Bank

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 74
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.