Naira Depreciates To N1,305/$ In Parallel Market - Business (6)

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Naira Depreciates To N1,305/$ In Parallel Market - Business (6) - Nairaland

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Naira Depreciates To ₦‎1,300/$ In Official Market / Naira Depreciates To ₦410 Per Dollar As Local Currency Weakens / Place Your Orders On Amazon At #305/$ & $4.8/lbs To Ship Your Orders To Nigeria. (2) (3) (4)

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Re: Naira Depreciates To N1,305/$ In Parallel Market by Everlastingson: 11:30am On Apr 25

tommy589:

When Nigerians are ready, they will cultivate farmlands without government prompting or dubious intervention. I have come to an understanding that Nigerians always find solution when pushed to the wall.

The price of imported chicken and others are now more expensive than the live ones.Frozen chicken sellers in neighborhoods have now resorted to killing cows,freeze and sell in kg. Some are now raising chickens in their compound empty spaces just for the eggs

Who and who are raising chickens when those who were into poultry farming are shutting down? Are you aware that a bag of 25kg broiler feed that went for #4500 is now sold #20,000? Dey play.

Re: Naira Depreciates To N1,305/$ In Parallel Market by Ebeano49(m): 11:31am On Apr 25

We said here that celebrating FPIs is dump. They are not reliable investment.
Naira is crashing again because the FPIs are taking profits. They came in at about N/$1700 and are now exiting at about N/$1200.
That's free 500 naira per dollar for 2 months investment. You cant get that return on investment anywhere else in the world!
You can rig elections but you cant rig international finance.

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Re: Naira Depreciates To N1,305/$ In Parallel Market by Tolupage(m): 11:32am On Apr 25

obiekunie01:
they should stop using our reserve to stabilizer Naira.

this problem can be solved within 2 years if we pay attention to agriculture.

The government should disburse grants to farmers nationwide and setup committee to monitor the grant beneficiaries.

by next harvest, food will be plentiful and their will be food surplus.

You're partly right, cause you never talked about herdsmen and terrorists occupying most farming communities.

CBN is only papering over the cracks with the hope that Dangote refinery would be able to significantly cushion the demand for dollar.

They can't continue to subsidize the dollar for BDCs, it will eventually blow up in their faces just like dollar started gaining the day news about foreign reserve being used to subsidize the dollar officially broke.

Govt should just focus on creating enabling environment for economic growth while implementing policies to ensure exchange rate doesn't cripple the economy

Re: Naira Depreciates To N1,305/$ In Parallel Market by LucemFerre: 11:39am On Apr 25

It is only in Nigeria that it’s citizens rejoice when their money depreciates. D tin dey surprise me i swear.
I dey with one yahoo boy, the boy just dey complain say dollar don crash. I gas look am well well for eye before him come back to him senses.

Re: Naira Depreciates To N1,305/$ In Parallel Market by Donald7610: 11:40am On Apr 25

Dynamicboss:

I hope so but I don’t understand what is going on. Yesterday they sold it at 1,021 to BDC. So what’s going on?

I pray so

Re: Naira Depreciates To N1,305/$ In Parallel Market by ufotunang: 11:41am On Apr 25

What do you expect when former kogi state governor used 728,000 dollars to pay for schools fees in advance for his child schooling in a foreign country abroad and other politcians and rich nigerians using dollars to buy foreign expensive cars, go for medical treatment abroad and sending their children abroad to school...and you expect the naira to appreciate against the dollars.. .we have to patronize and value what we have in this country to solve all this issues and problems of the naira depreciating against the dollars

Re: Naira Depreciates To N1,305/$ In Parallel Market by Everlastingson: 11:43am On Apr 25

Teymanhenry:

That's the problem, I personally don't think the depletion of our reserves will cause the naira value to drop. We sell crude oil and place the monies back into the reserve so the reserve should appreciate.

So you're not aware that Tinubu used unsold crude to borrow billions of dollars from Afriexim Bank at criminal interest rate? They don already collect money for crude wey them never produce. So the little crude they produce now( because they themselves also steal much of the crude), is given to the lender to pay back the loan. E go tey. Till Peter Obi enters there's no respite in sight for Nigeria.

Re: Naira Depreciates To N1,305/$ In Parallel Market by jubrilELsudan: 11:43am On Apr 25

PEOPLE WEY DON SELL DIA DOLLARS ALREADY

Re: Naira Depreciates To N1,305/$ In Parallel Market by tommy589(m): 11:47am On Apr 25

Everlastingson:

Who and who are raising chickens when those who were into poultry farming are shutting down? Are you aware that a bag of 25kg broiler feed that went for #4500 is now sold #20,000? Dey play.

So poultry farming and subsistence farming involve the same commitment

Re: Naira Depreciates To N1,305/$ In Parallel Market by Basicend: 11:47am On Apr 25

Everlastingson:

So you're not aware that Tinubu used unsold crude to borrow billions of dollars from Afriexim Bank at criminal interest rate? They don already collect money for crude wey them never produce. So the little crude they produce now( because they themselves also steal much of the crude), is given to the lender to pay back the loan. E go tey. Till Peter Obi enters there's no respite in sight for Nigeria.

Peter Obi na Jesus Christ?

Keep deceiving ya self.

2 Likes

Re: Naira Depreciates To N1,305/$ In Parallel Market by millionboi(m): 11:51am On Apr 25

Basicend:

They stop crying; making noise, and criticizing the govt foolishly.

didn't this government criticize other government before them.

Re: Naira Depreciates To N1,305/$ In Parallel Market by Brendaniel: 11:59am On Apr 25

Adakintroy:

You writing ur feeling no logic.

This is not feelings, what did Yahaya Bello produce or offer as service to earn almost 1 million dollars to pay for his child's school fees?

He did nothing to earn almost 1 million dollars for that, that means he added no single value to Nigeria for the dollars he earned and spent, that is alsmost 1 million dollars that would have gone to manufacturing or services that would have earned more dollars for the country...

1 Like

Re: Naira Depreciates To N1,305/$ In Parallel Market by Dwightventures(m): 12:04pm On Apr 25

It was not 1,255 on Tuesday. It was 1,280. I would have bought $1,000 to remove all my money from this failed currency.

In the end, aboki started hoarding and I was happy to find $200 at above rate to buy my online merchandise.

The naira I'm spending was dollar I changed to naira one year ago at ₦728. Talk about the loss of the millennium!

Re: Naira Depreciates To N1,305/$ In Parallel Market by Barzinime(m): 12:10pm On Apr 25

Be deceiving yourself.....
Did you cross check this information?
People like you will be shot on sight in China

crazyclown:

Yes o I am so happy.

Re: Naira Depreciates To N1,305/$ In Parallel Market by MetalJigsaw(m): 12:17pm On Apr 25

obiekunie01:
they should stop using our reserve to stabilizer Naira.

this problem can be solved within 2 years if we pay attention to agriculture.

The government should disburse grants to farmers nationwide and setup committee to monitor the grant beneficiaries.

by next harvest, food will be plentiful and their will be food surplus.

You spoke the truth my brother. My question is who cursed Nigeria with so much bad governments

Re: Naira Depreciates To N1,305/$ In Parallel Market by tctrills: 12:20pm On Apr 25

jkpbestseries:
so many are very happy now

Yes na, those who voted for Tinubu are very happy. Their wishes are finally coming to pass.

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Re: Naira Depreciates To N1,305/$ In Parallel Market by MetalJigsaw(m): 12:24pm On Apr 25

crazyclown:

Yes o I am so happy.

why

Re: Naira Depreciates To N1,305/$ In Parallel Market by babayinka77(m): 12:29pm On Apr 25

post=129622035:

Source: https://www.vanguardngr.com/2024/04/naira-depreciates-to-n1305-in-parallel-market/

Cardoso effect has ended.

Re: Naira Depreciates To N1,305/$ In Parallel Market by sonofthunder: 12:36pm On Apr 25

obiekunie01:
they should stop using our reserve to stabilizer Naira.

this problem can be solved within 2 years if we pay attention to agriculture.

The government should disburse grants to farmers nationwide and setup committee to monitor the grant beneficiaries.

by next harvest, food will be plentiful and their will be food surplus.

Buhari executed this poorly. The governor's where too focussed on on stealing to match same energy.

Re: Naira Depreciates To N1,305/$ In Parallel Market by Adakintroy: 12:39pm On Apr 25

Brendaniel:

This is not feelings, what did Yahaya Bello produce or offer as service to earn almost 1 million dollars to pay for his child's school fees?

He did nothing to earn almost 1 million dollars for that, that means he added no single value to Nigeria for the dollars he earned and spent, that is alsmost 1 million dollars that would have gone to manufacturing or services that would have earned more dollars for the country...

Re: Naira Depreciates To N1,305/$ In Parallel Market by Tochi360: 12:40pm On Apr 25

Dynamicboss:

I hope so but I don’t understand what is going on. Yesterday they sold it at 1,021 to BDC. So what’s going on?

Make the reduction reflect for the daily basis hustling and bustling of the common Nigerian,e reduce,e go up people still dey buy garri for above 3k per paint undecided

The way Apc messed this Country up enhh grin

1 Like

Re: Naira Depreciates To N1,305/$ In Parallel Market by RealTrump: 12:52pm On Apr 25

NSK4U:
Ejooor oo, how can I get this dollar before it reaches 6k?? I won buy plenty dolls since this trial and error continues rendering Nigeria's naira useless

Nobody is selling their dollars, everybody is holding. It will be impossible to find that much dollar unless it is your own money in Dom akant

Re: Naira Depreciates To N1,305/$ In Parallel Market by Prince111111: 12:53pm On Apr 25

Dynamicboss:

I hope so but I don’t understand what is going on. Yesterday they sold it at 1,021 to BDC. So what’s going on?

the CBN caused this. They have decided to intervene by selling to BDC but they relaxed that last week thinking no qualms for the Naira anymore. It will start reflecting maybe tomorrow

Re: Naira Depreciates To N1,305/$ In Parallel Market by Blitzerz: 1:14pm On Apr 25

Dynamicboss:

I hope so but I don’t understand what is going on. Yesterday they sold it at 1,021 to BDC. So what’s going on?

The abokis are buyinĝ and hiding the dollar for when it will go up

Re: Naira Depreciates To N1,305/$ In Parallel Market by Dwightventures(m): 1:17pm On Apr 25

Now ₦1,450. Forget any story you're hearing. I'm going to buy because I've seen worse. I lost my chance at 1,140 hoping it will continue to come down. Let me cut my losses. I don't want to pay another 1,680 as I once did

Re: Naira Depreciates To N1,305/$ In Parallel Market by Fearyourcreator: 1:30pm On Apr 25

kellyjc:
How some hopeless and useless vagabonds that claim to love Nigeria while supporting the dumbest to rule over it was supposed to be a suprise to me but I always remember why they are called zombies. They blame binace, bet9ja and the aboki next street for damaging Nigeria as if those people only started operation few weeks ago just to tarnish the already battered Tinubu's image while they pray for Tinubu,Akpabio and Gandollar to succeed.
Timbom Timbom government. The only thing They are good in is stealing carelessly.
Koni da fun supporters of this evil government.

E no go better for anyone wanting naira to depreciate... Aiye won ma ta loju emi wan ni

Re: Naira Depreciates To N1,305/$ In Parallel Market by NSK4U(m): 1:43pm On Apr 25

RealTrump:

Nobody is selling their dollars, everybody is holding. It will be impossible to find that much dollar unless it is your own money in Dom akant

Haaa so nowhere to buy dollars now

Re: Naira Depreciates To N1,305/$ In Parallel Market by NSK4U(m): 1:45pm On Apr 25

Fearyourcreator:

E no go better for anyone wanting naira to depreciate... Aiye won ma ta loju emi wan ni

Development of any kind doesn't start or end with wishes and prayers, it's work and technical know-how....... Ask developed states and you would be ashamed of this your comment here

Re: Naira Depreciates To N1,305/$ In Parallel Market by HenryWilliams(m): 1:50pm On Apr 25

jubrilELsudan:
PEOPLE WEY DON SELL DIA DOLLARS ALREADY

They were told to keep their dollars..
Dollars can't lose it's value but the Naira can.
Any appreciation gained was by the result of defending with FX.. how long do u think that could last?
The Naira is on a depreciation slope..
Don't be surprised it hits 1,500 by month's end.
If you have dollars..keep em.
Don't listen to any baggar singing patriotic songs or rhetorics to sell your dollar..
It's this same politicians and govt officials using public funds that would mop it all up ..
Be wise..
Keep your dollars

Re: Naira Depreciates To N1,305/$ In Parallel Market by Fearyourcreator: 2:06pm On Apr 25

NSK4U:

Development of any kind doesn't start or end with wishes and prayers, it's work and technical know-how....... Ask developed states and you would be ashamed of this your comment here

Go sleep

Re: Naira Depreciates To N1,305/$ In Parallel Market by Meedon: 2:12pm On Apr 25

Fearyourcreator:

E no go better for anyone wanting naira to depreciate... Aiye won ma ta loju emi wan ni

E no go better for you and all those useless politicians who loot our national Treasury. In sha Allah. Una no go die well

Re: Naira Depreciates To N1,305/$ In Parallel Market by ruffhandu: 2:38pm On Apr 25

Dynamicboss:

I hope so but I don’t understand what is going on. Yesterday they sold it at 1,021 to BDC. So what’s going on?

The people are not being real, they are just forcing the thing with our external reserves and loans. The danger in what they are doing is that once they run out of these resources, the fall will be unimaginable. I guess they are hoping that money will just come somehow, who does that?

The real solutions include:
1. Politicians to stop stealing
2. Encourage export by remove at least 90% of the bottle-necks therein, if not all
3. Fight oil theft like it is terrorism, eliminate it
4. Stop any form of dolarization (it is also shameful that a govt agency, the customs, uses dolar to quote their fees), come on, these people act like we do not have a country, like this is just a limited liability company.
5. Reduce unemployment by encouraging the private sector
6. Invest heavily in Agriculture
7. Declare state of emergency in energy sector
8. With improved electricity, reduce the stress of doing business in Nigeria to attract foreign investors.
... and many more.

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