₦airaland Forum

lionshare:
It's not necessary to strengthen the naira right now; maintaining stability is more important. Forcing appreciation could create instability and reverse recent gains. Sustained stability will, over time, move us closer to purchasing power parity with the dollar and help manage inflation.

I agree. In Abacha’s time, official rate was 22 naira which was fixed by Abacha but the market rate could not obey this because there were international sanctions and the economy was already bad with high inflation.

The parallel market rate continued to widen from that 1994 and moved from that 22 naira to 86 naira as at 1998 (x4 of the bank or official rate). In 1999, the currency was harmonised to reflect market rates and this plunged everything including the GDP in 1999. Inflation continued to bite and we were worse off and much poorer.

The currency continued to move in 2000/2001 from that 90 naira until it got to 130/150. From 2002 with high growth, and good economic reforms which also included clearing of debts, the naira stabilised at that 130/150, the foreign reserves rose significantly and purchasing power began to measure up to that 150 level, GDP also picked up rapidly again.

We’ve been through all these before. Nigerian political and economic history should be studied in detail by our leaders.

Streetinvestor2:
The funny part is they are borrowing left,right and centre to window dress the reserve and be shouting stability of naira.
Why is the naira not appreciating if the growth of this reserve has been organic.

Maybe the CBN is more interested in building reserves as a buffer first before strengthening the naira. Remember, CBN can also buy dollars away from the market rather than allowing it flow and stay in the market organically.

Strong reserves help the Government with foreign debt servicing which means we are very unlikely to default on our debts anytime soon. Ghana defaulted in 2022 because they had weak FX reserves compared to the debt they had to service then. Same goes for Ethiopia, Zambia, Argentina who have all defaulted and ran to the IMF.

To me, rising reserves are very important and one of the most important macro indicators. It means your economy has some kind of buffer against your foreign debt servicing (which usually takes away most of the dollars everyday alongside imports and FPI outflows)

chimex38:
no be lie.
It's part of the campaign

Investigator

Not necessarily campaign. You can check the reserves movement everyday on the CBN website. So it was $62 Billion in ObJ’s time, but declined as he left and into the Yaradua era to $40 Billion. Jonathan declined it even further (despite having very high oil prices) to $28 Billion in 2015. Buhari raised it to $40 Billion in 2017 and even $45 Billion in 2019. After COVID, reserves went down to as low as $35 Billion as at May 2023.
Reserves are simply inflows and outflows. They rise and fall. When they are rising, it means exports, FDI’s and FPI’s or even foreign debt inflow are more than imports, FDI/FPI outflows and foreign debt servicing at that particular timeframe. The stronger the reserves, the stronger the capacity of the CBN to intervene in the FX market to keep the naira where they want it to be or to stabilise it.

Smithkafors:
Always building inferior projects everywhere. See the environment and building. Can he build such as his personal house.

Step up game. Your projects are inferior compared to your exposure.

Bias is a bastard

“SEPLAT ENERGY LIFTS FIRST DOMESTIC COOKING GAS (LPG), BOOSTS NIGERIA’S ENERGY SECURITY

We have achieved another significant milestone in our commitment towards boosting Nigeria’s domestic energy security and sustainability.

The company has successfully completed the first domestic supply of Liquefied Petroleum Gas (LPG) – Butane from the Bonny River Terminal (BRT) in Rivers State, Nigeria”.

chimex38:
$41bn..
Latest update.
https://leadership.ng/analysts-forecast-stronger-naira-as-external-reserves-hit-41bn/

Lol 😂

Racoon:
Those are the kinds of issues that interest and gives him erection

It’s what most accountants are fixated on mostly. While Economists bother more about inflation and value first, accountants are first of all focussed on balancing the books and increasing numbers (revenue). Tinubu needs a seasoned economist as special adviser on economic matters not just Wale Edun.

This ASBA company and other solid mineral firms in Nigeria should list on the NGX na. Make dem dey list these companies too. Na wa oo.


https://www.youtube.com/watch?v=_qSYjv18OGU?si=nCwjbs5pVQzp93hC

ojeysky:
The bolded is news to me, do you have reference please?

Oh they came out in February to confirm by themselves that they are now ready to list and even visited Tinubu and Wale Edun.
In another interview quite recently, the CEO gave the commitment again. I think this is the first time Flutterwave themselves have been serious about listing on the NGX even though they’ve been courted before many years ago.
It seems they also got some commitment from the Government and Galaxybackbone on hosting services in Nigeria.

Agbalowomeri:
I expect a strong pull back between now till November but the bubble will continue in December/January for a final Janet. I go join this final one. Make water no carry me go

I will be off market for 18 months thereafter

The market sef don try

Between now and December 2026, we are hopeful of the listing of Dangote fertiliser, Dangote refinery, and Flutterwave. All of these have the potential to keep the market very green through this period except the election campaigns in late 2026 get very disruptive (which I doubt).

Zagee:
Words of a privileged person, but I don't fault you. There's Argentina for example. But oh well.

Argentina had to secure 20 Billion USD from IMF to bring back confidence to investors in order to stabilise her exchange rate. Reserves are net negative.

Argentina’s peso was floated also from 387 to 1000 and black market got to over 1400 at a time. It had to be floated because the previous Govt was just printing lots of Pesos to maintain the budget while burning the reserves to peg it at 387 officially and borrowing more.

Milei had to sack thousands of civil servants and stop all Government infrastructure projects (Argentina’s infrastructure is already way advanced than that of Nigeria, so Tinubu can’t do that).
I can go on and on about Argentina and we can do Milei vs Tinubu if you want and if it’s not seen by others as derailing.

The CBN plans to boost reserves with gold (most likely gold from local refineries) like Emiefele began to do in 2020 (but hasn’t really taken off well). So Japul could place themselves strategically for this in the near future.

BascoVanVeli:
Esther's 1st game back. Her assist was nice but that goal ehn she did get subbed early. Hope that was just fatigue

https://www.youtube.com/watch?v=vy5TrwVNAIo

Lol most likely fatigue from AWCON.

“ 🇳🇬 new insurance tax law will recapitalize insurance companies in 🇳🇬 to N25 billion for non-life insurance companies, N15 billon for life insurance and N45 billion for reinsurance”

BascoVanVeli:
Michelle Alozie vs North Carolina Courage
She played as a fullback

https://www.youtube.com/watch?v=BwgR9nbJFnM

The club have probably decided to play her as a fullback now.

mostob:
And she is just speaking up now? When those responsible are no longer on the seat? Since all these years.
Nigeria needs to do better though..

Even their coach Izilien died recently without getting his salary of over 12,000 USD. The painful thing is that he died battling poverty at old age without NFF paying his dues which would have been of much help to him at the time. He went to complain on Channels TV as well shortly before he died.

Naira now so cheap for our ECOWAS neighbours

“Nigeria exported a total of 663 million metric tonnes of products to 11 ECOWAS member states in the first half of 2025, according to the Nigeria Export Promotion Council (NEPC).

The figure represents a significant increase compared to the same period in 2024, signalling the country’s growing footprint in regional trade”.

Vera Okolo on Channels TV now.

She is calling on Tinubu to review the past because they were neglected and not paid in 2004 even after beating Cameroon 5-0 to win the 4th straight title. They had to protest and stay back in South Africa , they had nowhere to stay and were even been fed by Nigerians in South Africa.

Eventually, the Governor of Rivers State intervened and then much later Obasanjo invited them after the entire controversy to give them a presidential handshake and 1 million naira. In 2006, even when they won the title, they were not paid and there was nothing. In 2008, she got injured on their way for an Olympic qualifier game and she was abandoned at the airport, left alone to take care of her surgery, and her contract with a Finnish club was terminated.

“At the end of 2024, only 10 companies listed on the NGX had a market capitalization of $1 billion or more. As of August 1, that number has nearly doubled to 18.

The exchange rate used for August 1 was N1,530/$, while the rate at the start of 2025 was N1,500/$. Below is a list of companies that have crossed the $1 billion mark in market capitalization”.

https://businessday.ng/companies/article/nigerian-companies-with-market-capitalisation-above-1bn/

SohSoh:
Thank you for this information

1: that is why we don't have any working refinery in nigeria
2:that is why NNPC doesn't have one refinery attached to their name
3: that is why subsidy nearly finished this country
4: that is why they refused to supply Dangote crude ... despite investing 2billion and owning 20% of the refinery
5: that is why there is an alleged 210 trillion unaccounted for...

I could go on oh..... so again who in their right senses think NNPC of Nigeria is a good business partner.....

But NNPC is the biggest partner to Seplat, Chevron and almost every oil upstream company in Nigeria you can think of. Even when it comes to shipping, they are into that business and anything you can think of upstream. This is a plus for Caverton.

NYSC investors in the house.

New 200,000 naira loan scheme from Government

"the programme is part of President Bola Tinubu’s consumer credit drive announced during his Democracy Day address on June 12.

“The heart of YouthCred is actually not just credit, but credit orientation that is teaching young Nigerians, especially as they are coming into the workforce, teaching them good credit habits, teaching them how to build a credit history, teaching them how to plan financially and borrow responsibly, and then ultimately also giving them credits that enables them to access goods and services,” he said.

Eligible corps members will be required to complete a brief digital credit education course before they can access the loans.

Those who repay promptly can gradually qualify for higher amounts, up to the N200,000 cap.

The loans are expected to support a variety of needs including relocation, acquisition of work tools and devices, skills training or small-scale business funding.

https://punchng.com/credicorp-nysc-unveil-n200000-loan-scheme-for-corps-members/

Locotrader:
Do we have any company to benefit from this?


https://punchng.com/tinubu-approves-n1-5tn-recapitalisation-for-bank-of-agriculture/

FTN Cocoa maybe?

Cardoso my man. Strict guy.

https://nairametrics.com/2025/08/07/cbn-considers-civil-and-criminal-charges-against-fx-deal-violators-after-audit/

Fundlocator:
Nigeria has not seen the best of PRESCO, If you can be patient get some funds and sit inside PRESCO. This is intelligence for you guys. Something Hooooge that would shake that industry is coming. He that has ears let him hear.

The palm oil industry in Nigeria is the next big thing.

Dangote cement expanding in Ivory Coast.

SonofElElyonRet:
Zenith rewards D tigress basket team with N200m. Corporate Social Responsibility or Corporate Shameful Profligacy?
Can a publicly quoted company do this is saner climes?

But MTN did same with Super falcons. MTN and Nigerian Breweries are sponsors of super falcons. Zenith have been the official sponsors of women’s basketball in Nigeria for a long time. Nor be today.

Deppysit:
Pls between mtn, oando and dangote cement, which shares is advisable to buy now??

MTN and Dangote cement have very solid fundamentals and would keep getting bigger. Oando has some things going for it. You would have to take time to look into them more critically before investing.

Not sure how liquid Dangote cement is though but a solid firm overall that would just keep getting bigger alongside MTN. Cement companies in general have a bright future in Nigeria.

This is no investment advice 😊

Kukutente23:
Quit the gaslighting
It is common knowledge that portfolio investors chase high yield short term investments
That you don't know this is not my fault
Portfolio investments enter and exit an economy does not make much difference in terms of tangible investments. That's a fact you can't erase

Well when the figures for portfolio investments were down in Q3 2024, it was criticism everywhere. Did you make this kind of post then?

Fred2020:
One of the key risks to the ongoing stock market rally is the exchange rate, which has recently shown signs of weakness.

Unfortunately, there is not much transparency around the forces influencing Nigeria’s exchange rate, leaving much of the conversation driven by speculation rather than hard data.

The CBN loosening a lot of capital controls lately has been a confidence boost to inward investment but more needs to be done in making the data transparent.

In a world where DJT has spook a lot of investors from the more established developed markets and oil continues to hold steady at above $70 a barrel. Markets like Nigeria can continue to big winners.

The market can continue to boom till 2026 especially Nigeria seems to be tilting to a one party state & next election may be a formality. Bad for democracy, good for foreign investors.

Our gross FX reserves are growing and currently at $39.54 Billion. If we can get it to cross $45 Billion by the end of this year despite the relatively lower oil prices and high external debt servicing (including the $1.2 Billion Eurobond repayment in November), I would be very confident in the naira going into next year.

Dtigress in tears during their warm reception at the ASO Villa.


https://www.youtube.com/watch?v=dmTUWrsgK3E?si=hIEBVnYsZWQYvHGV