₦airaland Forum

Cognitivereason:
they are not telling you lies either

for example..in 2020..we imported $52bn worth of goods but only exported $42bn worth of goods of which 90%is crude oil..

can you see the imbalance.. why wont you have a starve foreign reserve

https://oec.world/en/profile/country/nga?flowSelector1=flow1&yearlyTradeFlowSelector=flow1

another useless lie. Nigeria exports 1.3 barrels a day multiply by 365days that's is about 500million barrels multiple it by 105dollars you are get close to 50b dollars. that's for crude oil. then gas 35b cubic meters a Price of cubic meters of gas is 2usd. you are getting 70b USD. then non oil exports you can find the figures. finally add 20b USD remittances. total dollars revenue is more than 150b USD .where is the money? emefiele need to answer.

t2luv1:
Exactly there is no scarcity of Dollars this whole mess was an artificial scarcity created by the greedy CBN head man

they are not telling Nigerians the truth. our import doesn't reach $80b annual so where are dollars earns from oil, gas, remittance, other solid minerals and agriculture going. we need explanation.

Nigerians are not asking fundamental questions to this CBN govt. Nigeria exports about $60b crude oil annually,$70b gas annually , remittance $20b . are we supposed to be in this mess with this excess dollars about $150b dollars annually from this. I have included non oil exports. so where all the money going yet there are scarcity of dollars everywhere.

thomwell:
Monetary and Fiscal Policies are always at parallel lines, the CBN muddled up these policies together and we are here now

Let me tell you, it is very simple, to get forex you must earn it. To earn it you must sell something, to sell something internationally, you must export. That os the bane of our problems. We only import, we don't export. So the naira will be sooooo weak, while the dollar will be so strong.

The current free fal is a build up that will manifest at a later period and it is now. There used to be cushions before now, there used to be Buffers before now. Like loans, grants, support from donor countries and agencies of the world. Crude theft is at its peak now, subsidies have turned into a major cash cow and proliferation in government is at a new level. Agriculture is at a stand still because of insecurity, no dollars for business men to bring in goods and services. The real sector is crippled.

we exports alot of things, crude oil exported in Nigeria alone reach $70b, gas more than $10b, and other non- exports like gold, Cocoa , cashew nuts etc. then talk about remittance in Total of $20b. Nigeria is not supposed to be in this quagmire if we have excellent managers.

famouscargo4u:
Huge imports, increased demand of dollar, low export to receive dollars, poor remittance of dollars into Nigeria from abroad in terms of investments or otherwise.

CBN stopped funding importers but has excess money to fund study abroad rich people , medical tourism in the turn of $10b. why won't naira crash. let CBN fund importers with excess of 10b dollars yearly let's see if naira won't come down.

it has passed 650 now it is 730. nothing is stable. another false prophecy.

Zimbabwe Dollar on my mind

Naira crashes to N710 per dollar
Today’s record fall comes a year after the Central Bank of Nigeria (CBN) prohibited the sale of foreign currency to bureau de change operators.
CHUKWUEMEKA AYOMIDE • JULY 27, 2022
Godwin Emefiele and naira to dollar
he naira has crashed further in the parallel market, trading for N710 against the U.S. dollar on the exchange platform Aboki Forex.
Checks by Peoples Gazette on Wednesday showed the current parallel market rate pegged at N710 to a dollar.
The national currency, which traded for N670 against the dollar on Monday, has fallen even further by 6.7 percent in two days as of Friday afternoon, according to data from Aboki Forex.
Today’s record fall comes a year after the Central Bank of Nigeria (CBN) prohibited the sale of foreign currency to bureau de change operators.
The apex bank had previously prohibited the sale of foreign exchange to BDC operators due to their unauthorized sales of foreign exchange above the market they were authorized to serve.
Prior to the ban, BDC operators were a major black market, providing exchange rate support to those who could not formally access foreign currencies directly from the CBN.
Peoples Gazette had reported how the suspension of BDC operators’ ability to source foreign exchange from the CBN could seriously impact the country’s economy by mounting further pressure on the national currency.
When CBN Governor Godwin Emefiele banned the sale of forex to BDC, the exchange rate was around N501 to a dollar. However, a year after the ban, the value of the naira plummeted to N670 to a dollar.
In an attempt to further restrict the flow of forex at the parallel market, the apex bank threatened to arrest and prosecute Nigerians using naira to buy dollars last week.
“For those taking money from banks to buy dollars, it is illegal to do so. If the security agencies hold you, you will know the implication of that,” Mr Emefiele said at a Monetary Policy Committee (MPC) meeting in Lagos.
However, Mr Emefiele has been criticised for failing to initiate policies that will help stabilize the country’s currency value in the forex market.
Naira against the dollar at the Investors and Exporters window has decreased from N164 when Godwin Emefiele became governor of the central bank in March 2014 to N430 to a dollar on Wednesday.
In the parallel market, the Naira weakened from N180 to a dollar in 2014 to N710 on Wednesday.
https://gazettengr.com/naira-crashes-to-n710-per-dollar/

When I was telling people that ikpeazu is better than ugwuanyi the Enugu state governor. They thought it's a joke. The fat fhool never constructed dualized road inside Enugu . His fly over is worst Nigeria.

What is the cost of getting a shop in cotonou and business papers. Cfa is now stronger than naira so business will make sense there.

there is still more to be done in South East, how manage ebonyi State with smallest population is having highest number crv against Anambra ..hope apc is not playing wayo there.

Port Harcourt road is cool, depends on the route you want to follow. owerri or east -west road.

if you think politicians don't know all these then u need to go back to elementary. subsidy is a scam , they use to enrich their partner and supporters. Nigeria govt is evil

Enugu people are the most politically backward state in southern Nigeria. with the abysmal performance of that fat fhool called gbururgburu, they still want to vote in another crook that bought his candidacy for billions of naira. chai, who will safe Enugu people from political nzuzu.

emmaodet:
I think so bro.
Met some guys who came without visa but had to pay $100 each at airport to get visa on arrival

with Nigeria passport?

kokoA:
My brother, we are not talking of infrastructural development yet o, if na that one you can bring in this argument of yours but we are talking about basic stuffs like payment of salaries, pensions and gratuity. I'm from Benue and I know what my people are going through. Orton's failure has made Benue gubernatorial election APC's lose. The APC candidate is more popular than jellof in Benue now.

I am not supporting benue state governor because he ought to do more. what I am saying bornu state receives more money and has more money at it Pocket than benue. so is no brainer for him to pay salary and gratuity. since many ngos are bringing funds and building infrastructures

kokoA:
He needs NGO funding to pay pensions and gratuity?

oga international organization that's funding bornu can't be compared any where in Nigeria.north East development budget alone is amount to annual revenue given to benue by faac

rubbish comparison, compare also many international ngo funding bornu state government, north east development commission, how many is benue state getting. don't argue blindly

SadiqBabaSani:
A city with no high rise landscape is only but a third world city.


lagos is Lagos after all,

Before you label me Afonja, read my siggy, dont give a damn abt them 3 Nigerian trojan horses

many European cities doesn't have high rise building. lagos is nothing but a shithole

olodo CBN is sole cause of this nonsense. u deprived importers Access to dollars. knowing full well goods are main drivers of the economy. the same forex are made available for politicians to fleece, study abroad people, medical tourism, holiday makers .why importers cant see any forex. op, dollar is already 700 as of today . dollar will continue until right thing is done. APC govt in other to punish igbo business men turn around and crash the naira. Nigeria spent $10b annually on school fees abroad and medical tourism with forex provided by cbn why won't naira crash.

OyiboUgbo04:
Iva Valley by Onitsha Express Road.

I guess this is not iva valley but golf annex

is Angola visa easy now to get ?

continuation of dollar to #3000

GamalNasser:
His mum is from Abia and he was born and grew up in Enugu

no it's udi in Enugu state

he was brought up in Enugu. her mom is from udi in Enugu state

Dvdpity:
Who said that over 40 warehouse has been destroyed? Just like how Ukrainian regime and the western diplomats and military has been lying since the beginning of Russian military intervention in Ukraine. Yes Russia has ran out of ammunition, Ukraine will soon reach Moscow. You are more idoitic than I thought. Keep believing in those lies. You are the one peddling that president Putin has Cancer and other nonsense. Keep yappin rubbish.

simple search could have cured you.cont. disgracing urself online.

Billygee2u:
Today 704

it has reached 704?

kudos to inec , they have greatly improved on pvc registration. streets of Port Harcourt has been flooded with inec staffs and their machines for PVC registration. what is the situation in your area?

Dvdpity:
>Our source explains why the Russians hit the tugboat and military boats with missiles in the port of Odessa right now, after signing the grain case in Istanbul?

>Yesterday they began to disperse the message that the grain case is allegedly insurance of the Odessa region against offensive and missile strikes. The entire elite in Odessa immediately exhaled, and the military began to think about how to use this "insurance" for their own purposes.
Today, the Russians have destroyed this myth by hinting that if they suspect something and fix it, they will immediately strike at "military and related facilities." They don't care about the reaction of the West now. In fact, they don't even think about it now (by the way, the West created it itself when it immediately blamed the Russian Federation for any abandoned fake. Now the Russian Federation, the opinion of the West is not interested).
https:///legitimniy/12955

Your HIMRS, IS NOT DOING ANY THING. EVEN IT MISSILES CANNOT DESTROY THE BRIDGE'S IN KHOERSON REGION.

HIMARS is not doing anything yet more than 40 weapon warehouses has been destroyed by HIMARS , sinces its arrival. mind you there are just 11 HIMARS so far sent for past one month. Russia ability to carry offensive is hindered by HIMARS both in Kherson and elsewhere. olodo, you are more knowledgeable than Lithuanian diplomat and other top official.

Hanibbal:
Yesooo. HIMARS is doing wonders o yet ukraine first lady was still crying to the U.S congress for more arms two days ago.

After Amelika send HIMARS na SHEPLUTO dem go send next.

no need to brag...
"Grain deal would have been impossible without HIMARS - Lithuania’s top diplomat"

fear of HIMARS is beginning of wisdom for Russia. HIMARS is doing wonders in battlefield. The orcs are afraid now.