₦airaland Forum

motionarena:
Complete it if your Father get mind

Sirmwill:
X

I knew you'd type something....

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ojesymsym:
This is from a different thread, but I believe it makes a lot of sense.

ThunderFireAgba:

HarryGleb:
South Africa is waiting.

AngelicBeing:

DeOTR:
Except you're spending the money in Benin Republic, it won't make any difference.
At the end of the day, this is what the CBN will fall back to.

henrimoto:
Bros. Abeg , throw more light on the bolded part, Abeg.

henrimoto:
Bros. Abeg , throw more light on the bolded part, Abeg.

henrimoto:
Bros, no be lie. Sense dey you talk.

My friend travelled to Cameroon last week, my say, Cameroon CFA don pass Naira by X2+..

..Even small CFA now, go give you X2 of Naira.

plaetton:
I wouldn't argue with you on that.
For as long as insecurity persists in every corner of Nigeria, it is near impossible to get foreign investors and even Nigerians in the diaspora to bring in sufficient dollars to stabilize the naira.

Fujiyama:
^^^
NNPC didn't tell you the truth.

There is still a subsidy on PMS imports.



^^^
Incorrect.

As long as the cost can be passed on to others in the value chain, people will continue to import at that rate.

Example: I buy U$ at the 1$ to N1400 rate to import vehicle brakes and shock absorbers. Its much costlier than before but commercial vehicle owners need to keep their cars on the roads, right? The cost is passed on to the passenger in the form of higher fares. The rules are clear: if you can't pay the higher fare, don't board my vehicle.

And...because people need to get to work or they'll lose their jobs etc., they have no choice but to pay the higher fare. And if these people can do so, they also push up the prices of whatever they sell...and the game of pass me the hookah continues...without end.

DeOTR:
I think the FG should close and ban all dom accounts, after conversion to naira at the official rate. And then implement a return to the previous PTA and BTA systems.

SoNature:
There's no positive side to experience until Nigeria clears its $8 billion debt. Dollar is now #1400. Give it next week; it will bounce back to #1500. Tinubu is totally clueless or doesn't care.

The question everywhere has been asking is, "Why Nigeria is not producing and selling more crude oil to meet our OPEC quota and satisfy Dangote Refinery?"

Now, Dangote is going to the US to import crude oil, thereby worsening the USD crisis.

plaetton:
My friend, the very simple answer is that the FGN, as part of its economic restructuring program, is officially devaluing the Naira by allowing it to free float.
This is a deliberate policy.
When the Naira goes down too fast in a very short period, the same government takes one ad-hoc measure or another to curtail the panic, just for that period. Eventually the devaluation continues. No one knows the Naira's true value at this time, not even the government.
Therefore, no matter what ad-hoc measures taken today, the trajectory of the Naira is pointedly downward for the rest of the year, until it reaches that equilibrium point where supply matches demand.
From the way the entire economy looks, that equilibrium level might just be around N2100/$ .
How soon it will get to that level is everyone's guess.

CockPit:
Emilokaaaan Japa go France to chill while Nigerians Sapa...

Sapa sapa

CockPit:
Sapa, sapa, Sapa...

Sapa jam japa and japa nor fit japa

CockPit:
na Sapa jam Japa!