₦airaland Forum

eliyke:
d color of d rice looks somehow,abi na ur camera?

omokab:
they can't scrap it because BDC is operated by northerners . I mean 95% of them are Hausa.

Johnjustice:
Very myopic way to look at it. The question should be, why are we depending on the dollar in the first place.

Using IMF advice of floating the naira will be a disaster, because the naira, as it is can not compete with the dollar. Our dollar demand keeps getting higher as our imports volume increase by the day, more Nigerians are into dollar hoarding business, this also increase the value, due to scarcity, as more Nigerians go to school and treatment abroad we demand more dollars...naira has no chance.

The only way is dealing/trading with nations that will accept naira, at least if we cover only 50% of our imports with this arrangement of currency swap/receiving payments with local currency...naira value will quickly strengthen, because our national demand for dollars will drop. We can also start selling crude and gas in naira, so nations go look for naira, this will increase demand in naira, as they will come buy naira from us...It's all about demand and supply.

Tonididdyx:
Lol... As usual, complain and keep buying. Even if the rice na 50% stone 50% grains... Nigerians will buy it, while the leaders import theirs.
... This suffering has NO SOLUTION until we do the bloody neccesities.
The country should be SHUTDOWN and a REBOOTH demanded!


I was chilling at my tenants cement shop yesterday for some hours while he went to supply.
A customer came and said he wanted cement, ( in my heart I wanted to confirm truly how stupid Nigerians are), I boldly bluntly told him 12k per bag (against the current 10k it's currently sold at).
Lo and behold after murmuring some stupid word like ya'all do online. He requested for 10bags.

I went into my componud to drive out my car and supplied him myself. He was like "ah this fine car for cement, I replied my boys carry cememt motor go supply... You nor fit wait!

My tenant returned, I transfer him 100k and chuckin 20k.


.... It's at this point I concluded of the stupidity of many Nigerians.

modified : I don't have energy to reply the mentions coming at my post. I cannot justify my action, positively,
I just want people to have an idea where the problem of the country lies.
Prices will keep rising cause all we do is complain, no actions... Even the meekest of actions like a simple boycott
You see that 12k per bag.... It will happen and people will still buy!

Omihanifa:
Upon all the dollars the CBN is pumping into the market through the banks the naira keep sliding

victorbass1234:
What network is this

kokoA:
In Nigeria locally produced items are more expensive than imported ones.

malali:
Cheaper Exports: When the Naira is devalued, it becomes less valuable compared to other currencies. This makes Nigerian products cheaper for people in other countries. Think of it like selling your cool toy cars to friends abroad at a lower price. More exports mean more money flowing into Nigeria!

Expensive Imports: On the flip side, devaluation makes foreign toys (imports) more expensive for you. Imagine your favorite video games suddenly costing more because they’re imported. This encourages people to buy local toys instead.

Boosting Local Industries: When local toys (goods and services) become cheaper for foreigners, it helps Nigerian businesses grow. They can sell more, hire more people, and contribute to the economy.

Tourism Advantage: Devaluation makes Nigeria an attractive travel destination. Foreign tourists find it cheaper to visit, explore, and spend money here. Imagine more tourists enjoying Nigerian culture, food, and music!

Investment Inflow: Investors like to put their money where it grows. Devaluation encourages foreign investors to set up factories, offices, and businesses in Nigeria. This creates jobs and stimulates economic growth.

Balance of Payments: Devaluation can improve Nigeria’s balance of payments. It’s like keeping track of how much money comes in (exports, investments) versus how much goes out (imports, debt payments). A positive balance is good!

Inflation: Devaluation can lead to higher prices for everyday items (inflation). Imagine your pocket money buying fewer candies because prices went up. But controlled inflation can be healthy for the economy.

Reducing Debt Burden: Nigeria owes money to other countries (national debt). Devaluation makes it easier to repay those loans because the Naira is worth less. It’s like paying back a smaller amount.

Competitiveness: Devaluation makes Nigerian businesses compete better globally. Just like you try to win in video game tournaments, our economy competes with other countries. A cheaper Naira gives us an edge!

Learning Opportunity: Finally, understanding devaluation teaches us about economics. It’s like leveling up in your favorite game. By knowing how money works, we can make smarter decisions for Nigeria’s future!

Chevrolet076:
That's really cheap o

TechCapon:
how long does it last

cezarman:
Okay thank you!

But which network na... Izit econet, visa, Nitel or land line?

Smartguyboy:
Which network?