₦airaland Forum

Winterhaven:
One of these figures is out of place. Which one do you think is odd? Give reasons for your answer.

WhiteIverson:
A 1 dollar and 1 pound note has more purchasing power than 1000 naira abroad

A 1 dollar and 1 pound note still has a higher purchasing power than 1000 naira note in Nigeria

No thanks to the fraud government in power

BItt:
Rent 350,000
Feeding 250,000
Transportation (I dey use leg most times)
Data and subscriptions ( 14,000)
Family responsibilities (neck wann break)
Savings ( mission impossible)

Okada men literaly wants everything in your purse for a short distance

Afikoo:
I am about to get my first car. It's in Lagos I am in Rivers State . It's Naija use

Realrealfact:
This is Nigeria . All
Will be well

DeLaRue:
That's unrealistic, nor is it necessarily a good thing. Such superfast appreciation may create new pockets of instability in the economy.

Naira reaching N1000 by December will be a nightmare for the CBN and the Ministry of Finance. Both will prefer a slow and steady rise.

Managing an economy is a delicate game a chess. For every positive development in one part of the economy (e.g currency) there is a potential negative effect elsewhere.

So while naira reaching N1000 by December looks good on paper, it will reverse most of the gains we have made in the last 18 months when we started exporting more and importing less. It will also reverse the ongoing efforts to produce more of what we need here in Nigeria.

If Nigeria hits N1000 by December, imported goods will become significantly cheaper next year, and the country will go back to importing more of everything. Yes, the man on the street will be happier, but long term the economy will become worse and more import-dependent.

The biggest short, medium, and long term beneficiary will be China where we import most things from. Over time, our own local industries will die a slow death. We will enjoy cheaper goods prices but our future children will have no jobs as our industries are hollowed out over time. We will basically become an economic colony of China

Yes, it is a good thing for naira to appreciate, but it is better for that appreciation to happen at a slow and steady pace to give the Ministry of Finance and the CBN time to make necessary policy changes.

I suspect the CBN would probably prefer naira not to reach N1000 to a dollar until around mid to late 2026, though I don't think they'll be able to control the timing of naira appreciation 100%. But, I can bet you that CBN will be buying dollars furiously if its data shows an impending destabilising naira gains. Buying dollars effectively means supporting the dollars against the naira

Some may be surprised by the idea of the CBN supporting the dollar against the naira, but that is part of the job of the CBN. Support the naira if there is a need to, and buy (support) the dollar if there is a need to.


MOST PEOPLE DON'T EVEN KNOW HOW STUFF WORKS

Jokay07:
As a yoruba man, I really miss Awka.
From Awka to Nibo to Nise, Agulu to Nanka to Ekwuloboa to Amokpala to Oko and beyond. Even to Umunze.
There's a motor park around that Ekwulobia, you will see some women there selling International standard okpa.
Okpa wey get 7 lives. Hot and spicy.
I go grab one with a nice bottle coke before going to class
If not because of NYSC, e ramain small make I contest for councillorship election.
It's truly light of the Nation. No cap

Hermaphrodite2:
I came across the school fees for freshly admitted students in UNILORIN. Is this not getting out of hand? I can remember vividly, this sum isn't upto what students pay for their whole study in the university. In addition, Acceptance fees of 40k has to be paid

Raf4:
Local rice millers have failed Nigerians.

Biodun556:
They should collapse if they will continue to put Nigerians in hunger and suffering

Under Buhari, they collected grants, loans and greedily hoard rice and increased price. They are useless.

APCNig:
So it is not to serve the people. Political position is now empowerment program and not to serve the people again. What a people! People deceiving themselves

kingbee90:
Tinubu's subsidy removal, custom tarrif increase and high cost of living caused by his policies has really made the cost of everything to go up.
Before 2023 elections, those SUVs were N15-17M.

It's not the fault of car dealers.

Tjra:
Many people who are too poor to afford cost of travelling will shout deport them out of envy. These people that travelled in search of greener pastures are not the cause of your misery.

43Ronin:
So naija port could not handle it. Instead of the govt to open other ports & keep them available we congest Lagos til it becomes inefficient. Imaginethe huge revenue lost to Togo. After naija go dey claim giant of Africa. Giant koʻ agbaya ni

Nnaemiemax:
Genesis 14:19-20

TheFreshVanilla:
In the presence of law and common sense, where is the miracle in this story?

press9jatv:
Hmm 🧐. And she made a salient point here. Glitch will always occur in the CBT settings in exams preparation

Clean2016:
Vhop

GHustler:
This one don fold?

fullclub:
What does it mean bro