₦airaland Forum

jegaxe:
Tible exchange.
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ShortBiscuit:
Why is it that a currency ($) that Nigeria doesn't own nor print keeps having such an insane influence on our local economy??

DeLaRue:
Nigeria earned so much money from crude oil during his regime (the highest to date) , if he had managed it well we would not be where we are today.

The money was mostly stolen under his watch. We are still reading about Deziani's loot today.

Any suggestion that Mr Jonathan was a competent leader is laughable.

Mr Buhari came and overborrowed, and over subsidised the economy to the point of near bankruptcy. To think that Nigeria 's net foreign reserve is only around $3 billion after over 50 years of crude oil sales is shocking.

Against that shocking backdrop, the current government doesn't even have the resources to defend the naira.

Naira could fall a lot further.