₦airaland Forum

Mccollins042:
Be deceiving urself, Ghana sells 15.96 cedis which is equal to 1usd

Compare the value of cedis to euros

pharmagba:
From the Monopoly of sugar importation
To Monopoly of rice importation

Where is the monopoly?

santaclaws:
LOL... You don't know anything about what you wrote up there. I am an economist, so none of those things you wrote have any effect on the naira.

The minimum wage increase is a response to current cost of living and the dollar wouldn't suddenly reduce just because people are earning low.

To be sincere, you have confirm your economic illiteracy and ignorance.
The cost of living is the simply prices of commodities that one to acquire to make life comfortable. The prices of commodities are determined by the value of your currency.
The value is inversely proportional to the volume of money. Increasing the minimum wage is simply increasing money supply which results to currency depreciation. Increasing the minimum wage to fight is one of the most stupid thing believe by economists without knowledge.

santaclaws:
If not for NNPC's and some marketer's insistence on importing fuel, Naira would have even gotten stronger by now...

We don't need to keep chasing the dollar with a lot of Naira, that's what's causing the rise of dollar above 1k. Normally, by now, 1 dollar shouldn't even be above 900 naira.

To stop chasing dollar with a lot of nairas, the minimum wage should be reduced and commercial banks have to be decapitatalize to reduce the money supply.

Tooreda:
You are just stupid. Nothing else.

You can even answer a simple question!

LegitDealz:
Let me be your iptv plug. Our service is very affordable

A country with a devalued currency has no affordable products, stop entertaining and face the government you voted into power.

omoredia:
This is cheap. Dangote stole our Fx for his own business. That was the fraud

Can you show the evidence of Dangote stealing your forex?

Goldplucker:
Since you have produced more, showing how profitable the venture has become. Why don’t you decrease the price 😏

Why not build your own and decrease the price

omoredia:
They stole all our fx from cbn, to give to Dangote that is Buhari brother to build their private refinery for them to share money, and the omo ibo that they gave the directive is the one to now go to prison.

They stole all your forex, do you have forex?

reiddecuti:
Still yet to comprehend on the mind game NNPCL and Dangote is playing on Nigerians.

The complex game is the one Nigeria plays on themselves every four years

AllBlack:
Nigerian leaders are shameless sha.
So if Dangote (INDIVIDUAL) didn't build a refinery, this country would still be without a functional mega refinery. Na wah.

The people waiting for government refineries are the one's shameless, imagining government refinery in 2025.

oluseyiforjesus:
Dangote please show love by crashing d price of ds petrol to 500

Why not build your own refinery and show love

Greenlandz:
There Mr Aliko, reduce the price of petrol to at least 400 naira then we know you truly love your country as you implied.

With subsidy flowing from your pocket

pimplucious:
If we can get one or two more refineries like Dangote’s and the NNPCL refineries functioning at capacity, this will bring about stiff competition and price war forcing down energy prices and eventually emancipating the economy.

At what age will you stopped deceiving yourself with competition reducing the price of a product?

Tooreda:
30000/400


70000/1600

Do the Maths and see how you have retrogressed since Buhari era.

Where you expecting to progress with minimum wage increment?

Zackattack:
400 to 1600 is a 300% increase.
The new minimum wage is barely 100% increase which is only implemented by less than 5% organizations in the country.
New minimum wage that was forced on the government.
If you’re honest, you will know that everything done by this administration is about saving face. They want to make things better, but don’t know how. So they resort to covering their tracks.

Where is the 100% increase in minimum wage generated from?

DeLaRue:
So Mr Buhari was spending $10 billion per year to keep the rate at around N650 to $1 (only people going for hajj, and highly connected politicians got dollar for N450).

Now let's assume the current government spent $4 billion in each of the past 2 years.

But so far this year (2025), more dollars have been flowing in than the Nigerian currency market can absorb.

The CBN is stepping in to buy that excess dollars.

Effectively, there has been a complete turnaround. The CBN is not currently defending the naira due to excess dollar inflow.

That means if this situation persists for most of this year, the CBN's annual intervention may fall from the claimed $4 billion to my be $1 billion - $2 billion.

Isn't that fantastic.

Remember, as I mentioned previously, during early Feb, Brazil was spending $7 billion PER DAY to defend its currency.

If Nigeria ends up spending $2 billion PER year to defend the naira this year, please let us appreciate the work of the CBN a little.

There is no perfect country in the world.

APC online agent, you failed to realized that the CBN is printing trillions of naira and releasing it into the market to make naira useless.

Alliswell248:
U are wrong.
Learn to comment as a responsible person, and not a dullard

The government is not printing money like emefiele did.

This government is not printing more money like Emefiele did, keep deceiving yourself!

Zackattack:
But it was N400/$ on the official market when Buhari left power.
How did it get to N1600 per $ if the naira is still being supported?

Buhari left your minimum wage at N30,000, how did it get to N70,000?

RZArecta:
you're angry about this one, fuel subsidy regime nko ?

The subsidy that you are secretly enjoying on imported petrol

Emu4life:
Currency floating is scam

followed by subsidy removal

Jokerman:
So why has the naira not dropped to like 700 per $1?

Seriously, you expecting naira to drop when more are been pumped into circulation per day

DeLaRue:
Nothing new.

Every country steps in to support their currency.

In late January 2025 (last month), Brazil was spending about $7 billion dollars PER DAY! to support its currency against the dollar.

Around the same period, India spent over $20 billion dollars within 3 days to support the Indian Rupee.

Japan spent over $60 billion to defend the Yen against the dollar last year, yet the Yen has lost so much value against the dollar in the past 2 years.

If Nigeria spends $8 billion in 2 years, that's still reasonable, compared to when we were spending about that amount every year under Mr Buhari.

Truth is, the dollar is just too powerful against most currencies. Many governments have to defend their currencies, otherwise...

Do they devalued their currency in the name of floating, pump more into circulation and borrow from IMF, World Bank etc to defend it?

JovialJune:
And nothing to show for it, no meaningful changes in the cost of living smh.

What meaningful changes where you expecting from pumping more naira into circulation and borrowing more dollars to defend.

Jokerman:
What I don't understand is Buhari spent $10Billion to keep Naira at $448/$450 by the end of 2022.

However, $8 Billion of Tinubu's subsidy cannot move the naira to at least $1000??

🤔🫤

Calculate the money supply during Buhari era and compare with Tinubu. If Buhari was pumping 1 trillion into circulation per day, Tinubu is pumping 10 trillion per day into circulation.

MadamExcellency:
The Government has started doing what should have been done after the refineries started working. There is no reason the dollar shouldn't fall to N500. Our refineries are working. Let's stabilize foreign exchange and see multinationals come back to invest in Nigeria.

The magic you are talking about will only occur is the money supply is reduced by reducing the minimum wage and decapitatalizing commercial banks.

Paraman:
NNPCL has not imported a litre of petrol into Nigeria this year. You're just talking anyhow

No refinery sell petrol for up to €2/litre anywhere around the world

NNPCL has not imported petrol this same according to you but NNPCL imports 25 million litres per day.
Keep defending nonsense just for 23,000 NGN

Paraman:
There's no refinery in Europe that sells petrol fot up to €2/litre

Make the refinery where you and NNPCL imports your fictional cheap petrol from?

DIVINEEVIDENCE:
We should start arresting adulterers and fornicators so these condoms can go round to people who should lawfully use it.

Ban Helinues and other ZoneB's dem from getting laid.

So according you, only fornicators and adulterers uses condom. No wonder Nigeria is experiencing population boom because married people don't use condom.

Paraman:
Tinubu administration is not paying 1 kobo as subsidy. You're spreading a false news

Explain the magic behinda litre of petrol that cost €2 (N3,200)/ litre to import from Europe is having a landing of N900+ with importers demanding under-recovery cost from the federal government

Paraman:
Where are you getting this your price from?😆 Oil marketers in Nigeria are not buying petrol from filling stations in Europe, they are buying directly from the refineries.

You're the only person have seen claiming government is still paying subsidy.

I gave the details of the reality but it seems you sworn to be deceived by politicians, good luck!

Saga16:
From time to time, government must intervene to prevent;

Monopoly
Scarcity
Social unrest
Security risks.

If you were in government, you would do the same.

Which monopoly?
The monopoly of NNPCL been the sole importer of petrol into Nigeria and hiding it's operation in secrecy?
The scarcity created by NNPCL whenever they want to increase the price of petrol?