₦airaland Forum

Newton1045:
No problem

Let dollar continue going. We don't care

Our currency is naira.

When naira tire to chase Dollar, it wud rest

really? I dont think you know the devastating effect of this. It would have been better if Nigeria is a producing country. We import virtually everything. High exchange rate means high price of goods and services which means harship, starvation, poverty

Tinubu shot himself in the foot with his policies. You leave Exchange rate to the forces of demand and supply, in an import-dependant country like Nigeria. How will their be equilibrium between Official rate and Parallel rate? How much $ do Nigeria have? Is Nigeria earning FX now? When buhari already sold in advance the only means of FX Government depends on. Who will come to our rescue now when exhchange rate is on a free-fall? Fix security Tinubu, make agriculture attractive and safe for farmers, i myself will go into farming. We need as much as possible $ now. PROBE PROBE PROBE everyone in buhari's tenure including his cows, let them vomit everything they swallowed. Do this for Nigerians and your name will never be forgotten. PROBE BUHARI PROBE BUHARI. He knew the atrocities he caused when he said it that you should not disturb him with questions about his administration. PROBE BUHARI administration. Dont take all the blames. PROBE BUHARI administration.

It seems my comment got to Tinubu. You are Jagaban, proof the name. Hold buhari and everyone in his administration by their balls. You dont have anything to lose like Fubara. Do this for Nigerians, make them vomit whatever they swallowed, and you will be glad we the poor and everyone in general will breath.

Ejebleje:
I already said this . It is the only way to ensure fair competition ,the manufacturers have held us by the balls

it is too late bro. Just $10 is more than 16k. Dangote's, BUA's wings would have been clipped if the government has taken this step earlier, now their products are necessary Evil.

Tianamen1:
huge is relative. In terms of our GDP only 10 percent was printed. The UK printed out 20% of its GDP in response to COVID-19 yet the pound isn’t falling against the naira. The US printed out 22% of its GDP and the dollar isn’t falling against the naira.

All countries printed out money in response to the global shutdown. There was no movement so countries were not buying crude oil. Nigeria needed to pay its civil servants to ensure that money trickled down to everyone else. That money had to be printed and nations all across the world took similar actions. Why Nigerians are suffering is because Tinubu has refused to raise the minimum wage. Raising the minimum wage will cause the further devaluation of the Naira. This is a necessary evil to reduce the pain of the nation. Tinubu needs to raise taxes on the rich and reduce government spending. He is not interested in doing this as it will affect the elite. Tinubu prefers to punish the masses for the sins of the elite. TINUBU IS THE MOST WICKED PRESIDENT NIGERIA HAS EVER HAD.

your argument is sound but the issue on ground is more than raising minimum wage because those that will benefit mostly from this are civil servants. Lets even assume the government wants to do that, to how much would the minimum wage be raised to that will cushion the effect of this biting inflation? Will chukwudi working as a salesboy benefit from the increase in minimum wage? Will bola working as a POS girl benefit? Will Hauwa hawking kunu benefit? The monster facing us is inflation, one of the Macro-economic indices and to tackle this , first thing the government has to do is tackle insecurity. I agree with your point on cutting down the cost of governance. If the president could tell all Nigerians to endure, i see no reason why he and his cohorts should not. They should even forgo their salaries and allowances for sometime, afterall, they have enough already but i doubt if they would be able to do that. They prefer to die without spending the money than letting it go round. WICKEDNESS, GREEDINESS, CALLOUSNESS.

IN ADDITION!!! The printing of more money is having devastating effect on Nigerian Economy because MS>MD.

23trillion? That is huge.

Kilometres:
So, by your logic...

fg will print naira note
Give it to commercial bank to hold for them in advance.
Then send electronically to workers to go and collect from commercial banks.

You still need to change the engine oil

you are a fool and i think you need a tutor to teach you how velocity of money works. You are a dunce and teaching you wont change anything. I would have taken my time to lecture you if you were taught by whomever how to engage people in conversations.

Kilometres:
Printed naira notes?

Na cash them they pay?

It's time to change the engine oil of your brain

you are a fool if you cant opine your point without insult. You need to learn more on electronic money and how it is being calculated. Stupid idiot. Can you spend your E-money without the involvement of commercial bank either directly or indirectly? In a way or the other, you exchange with physical cash. You are ignorant and a dunce. Go argue with an illiterate like You. I am a wrong pick.

Pablodreay890:
Now na only Yoruba and Hausa people they feel this shege much….. How Igbo people con dey survive…..

all tribes are feeling the heat. I heard my landlady this morning shouting on my igbo co-tenant to pay his bills.

The president should shun flying out at the moment. For domestic transportation, the president should travel by road. You should endure the same way you advised Nigerians.

Most Nigerians dont understand how Tulubu is ruddering the Economy. All this payments they are making now is from printed naira notes. Nigeria at the moment is not earning any money, ask yourselves where this money is coming from to make payments. A time is coming where Naira notes will be like paper we will be picking on the floor. All thanks to the billions of naira being printed every single day. Advise to tulubu, you have to probe every single persons involved in bullhari administration. They call you jagaban, proof that name to all Nigerians that you are truly jagaban. You have nothing to lose, you are old and a veteran in Nigerian politics. Do this for me, do this for you, do this for all Nigerians. Let them vomit all the money they swallowed and watch Nigeria bounce back on the path of prosperity.

Beautifulday:
Goods of basic necessities doesn't drive the economy. If we focus on that, hunger will kill everybody.

Those people patronize the necessity industry because the other industry pay them. Without such patronage, the necessity industry will die.

not something like beer . i studied Economics in school and i understand perfectly how the economy works. I am more concerned about the populace and not people who work with NB which is a small fraction of the populace. Price of beer can rocket to whatever, we dont care.

Beautifulday:
What are you saying? Those employed by the beer producing company, how would their family eat?

beer is not a necessity bro. How many people have you seen lamenting on the price of beer?

Gadafii:
Yna go dey lie bare face, if not mention the eatery or the location of provide proof of payment

That one potion of rice no fit pass 500 at worse, bottle water 200, fish 300 Shey dem charge you for the spoons and plate You are wrong bro. I dont know about the rice but that fish tail wont go for less than #1200.i was buying it @1000 at an eatery i used to eat before bulabaa came in. I dont know about it now.

Jewessgratitud3:
E dey but not the Very big ones. Like medium size. Better still buy crayfish. No be must to eat fish. Na make belle full na him be koko.

Yesterday I thought of what to cook on a budget. I was actually craving this white rice and concoction palm oil fish stew with iru but when I remembered that 600 naira pepper and tomatoes will not achieve that for me ( cos the last one I got made me stew that I used only twice), I remembered what a Nairalander told me about other ways of eating and enjoying yam ( cos I don't like yam). I quickly made a u-turn, went to one shop and bought yam of 1200, bought eggs. Thankfully I had vegetable oil. I fried half of the yam and that was what I ate throughout yesterday. I spent less and belle full. even till now, I'm still full from yesterdays yam.

God gave us wisdom, so every one should be able to use it to navigate through this period of famine. I'm thinking of roasting the remaining one and I don dey eye some Pako for backyard wey I go use run am outdoor cooking things and it's going to be fun too.

i understand and kudos for adapting to the situation on ground. I was only pointing to how bad the inflation is.

Point of correction, many Drunkards. We are talking about food and other necessities, this one is talking about Beer.

Jewessgratitud3:
Must you buy that particular one? Eja kika psnla is there. Like three pieces is sold for 600.

where u wan see panla #200? Except you want to buy a VERY SKINNY one.

GreaterFuture:
NO. Not that he doesn't have it, or he is unable of turning things around, far from it, they are just ruthless, completely heartless.
Also this a game.. a long game with many tests and turns, with many layers to it. An old old game.

It's not about capability at all, which makes them even more SCARY.

i think you understand how these things work. The craziest thing is that we have never had a better president, the latter is always worse than the former. Its is Creepy and Scary what type of game this is.

Coronavirus1:
I am not sure this message came from Nigeria Brewery because the spelling of import is very wrong.

it is true. I was shocked when i was told small smirnoff ice is now #900 at a bar i went to, lastweek, if no be say i don open am already, i for tell d guy to return am.

Na statistics we go chop?

BucketMan:
you're right but that's exactly what I meant. Now imagine I was earnia fixed salary

that is true.

BucketMan:
I'm very glad I earn my money In dollars. Best thing about earning in dollars is that the foreigners paying you don't realize the high value of the dollar in your country, to them it's chump change, lol. I'm thankful 🙏

does it change anything? This is simple economics bro'v. Assuming you earn $100 when a $ was #500, that was 50000 and things were relatively cheap so the 50k would get you enough things to sustain, now a $ is 1500 which means you earn 150k with skyrocketed prices of goods and services, then you will realize the inflation doesnt favor you the way you think.

KingKO22:
Obituary would have been worst.

BTW,
N500k minimum wage will help a little

a lot of ignorant folks on nairaland. Do you think it is about the minimum wage now? FG can pay 2million minimum wage if they want, all that is needed is for the dullards to print more naira notes like they have been doing since they have no brain to think of diversification to earn Forex after overburdening crude Oil, which is no longer needed by most countries.
FURTHERMORE!!!! Is it everyone that will earn minimum wage?

malali:
Nigeria needs more farmers not Office workers.

You want to be a Billionaire in Nigeria ?

This expensive food prices will last for atleast 3-5 years.

Start farming today and you will be rich in naira or dollar.

Everybody must eat.

some of you just talk farming as if it is that easy. Even those that summoned the courage to farm were slaughtered like goats on their farms.

money121:
He bought 10bags of cement at rate of #700

Mean 1 bag #70

Do you think is possible to happen again in nigeria?

fergie001, Mynd44, OAM4J Seun Nlfpmod

it can never happen again due to too much money in circulation, induced by the crooks in government so as to have enough naira to change to $ so that they can loot. Bullhari printed trillions of naira, same thing tulubu is doing as promised ,to continue from where bullhari stopped in their cursed renewed hope campaign.

Westerhoffe:
His days are numbered already!
They have witnesses, his photos, and Social Media?
Forget it… he has been caught already.

And someone said there he's a Police Personnel!

When the protector becomes the predator.

90% of police personnel have criminal instinct, infact it is 95% self.

Caramia2020:
Most artisan will suffer hunger because building of houses will reduce.

i don abandon mine till whenever. The most important thing now is surviving this tinubulation.

Oblongata:
You couldn't have eaten this bread and not 40+. How na? Were you told the story?

i ate the bread and i am in my early thirties, so it is possible. The bread was still rampant till early 2000.

Zidane199:
u get mind o. If I broke for just 2days, I always feel like na me dey suffer pass in dis 9ja. That means suffer never even reach my side cos 24hrs without food as never happen to me before. Even if na garri, I will drink

it happen bro although it was the past but what kept me going then and gave me morale was that i always had it in mind that i had hope of eating a good meal the next day while some people had no hope. It worked wonder when i thought of that.

Zidane199:
All this people that say they did not eat for 4 days in dis Lagos, Is it really happening cos I find it difficult to believe. Didn't eat for straight 4 days and u get strength to Waka carry water.

it is possible. I have gone 2days without food, only water and i went to field those 2days to play ball, and no one suspected anything.

Omg. How i wan take finish building this house wey person de struggle now?

Go and sin no more