Angelfrost:
Tinubu is making prophets out of naysayers...!

They all said Naira will depreciate from #1000 to $1 by December this year... Seems CBN is way ahead of them.

At this rate, it will be #1500 to $1 by Christmas... This is damning and historic.

If you'd followed all my nairaland comments from the very week Tinubu disposed subsidy and floated currencies, I vehemently hammered on this very outcome. I tried to explain how this very FX harmonisation policy was going to be very detrimental to the naira, which might possibly result to the collapse of the economy, because you cannot float a currency whose availability you cannot guarantee to keep up with public demand.

Unfortunately, the usual APC propagandists came at me in droves, calling me all sort of names, telling me how I knew next to nothing compared to their Chicago drug baron who they claim had a super degree in Economics..

Hell, I gave the Economy 6 months from July to be on its knees. Looks like I was even being too liberal with the reality on ground. Fuel marketers will import the next batch of petrol by this month end or early September, and there's no way in hell pump prices are not going to rise, given the prevailing circumstances.

Naira is Igbo. It hates Tinubu

israelmao:
Buhari bastardized Nigerian economy Tinubu is also doing more to make it worse.

Buhari tried in the midst of challenges which Tinubu is yet to face from economic recession he met all the through Covid era. What killed Tinubu's government is anti Igbo sentiments instead of shelving same for national interest. He should release Emefiele without further waste of time

#DAY 74 (STOLEN MANDATE)
PRAYER: Nigerians are suffering, petrol, dollar , foodstuff,services etc have all increased their prices.Good lord give us the leader we all voted for so that we can start seeing positive changes. Amen.

They’ve finally destroyed the slave coast
Listening to ridiculous advices from Western bodies in addition to horrible policies made by unpatriotic politicians

With what’s going on in the Sahel a coup can arise here o
Dévaluation 1000

Currently 931 on binance .
The fall will favour me and my family iJN

Chicago Economist should do something asap

tesppidd:
Till today no palliatives.

They say we should tighten belt but Tinubu is increasing ministers because he wants to compensate people.

Our representatives in Government at the National Assembly are receiving stress allowances for staying extra 2 weeks in sit inside AC and be doing the very stressful work of shouting Aye and Nay.

Thunder fire anybody telling us Tinubu has hit the ground running, rather he hit the ground on quicksand.

Tinubu came in based on elite consensus and division of the masses. No way such a politician will be so concerned for the masses.
If elections are ordered today, all the politicians in APC will gather round him as a survival ticket, divide the masses with ethno-religious propaganda and boom 💥 he's back in office.
Why should he care what the masses are facing?

Where is that APC guy that's always using the phrase this tinubu Government will favour i and my family,Just bring that your bald head let me test something on it.

Ope ooooooooooo

This Tinubu govt favour me and my family o

We de wait make e reach 1k, e get one 30M house wey I wan buy and my money na $30k now😁

Omo BUHARI is better than TINUBU . We all miss BUBU our love .
Just 3 month the economy Hass crashed . We might be seeing the naira @1500 by December

tesppidd:
Till today no palliatives.

They say we should tighten belt but Tinubu is increasing ministers because he wants to compensate people.

Our representatives in Government at the National Assembly are receiving stress allowances for staying extra 2 weeks in sit inside AC and be doing the very stressful work of shouting Aye and Nay.

Thunder fire anybody telling us Tinubu has hit the ground running, rather he hit the ground on quicksand.

Tinubu will turn out to be the most clueless president ever! Dude actually hit the ground clueless! Everything is spinning out of control but some dolts, who's conscience have been eroded, are here on nairaland trying with so much effort to defend this man's cluelessness in exchange for a paltry inconsistent stipend!

Abagworo:


Buhari tried in the midst of challenges which Tinubu is yet to face from economic recession he met all the through Covid era. What killed Tinubu's government is anti Igbo sentiments instead of shelving same for national interest. He should release Emefiele without further waste of time

Buhari only created two consecutive recessions by himself due to his incompetence and inability to act on the spur of moment or think on his feet.

1 GBP is now 1145 on Lemfi
It will be the 8th wonder of the world if it falls below 1k
Presently BAT and the big guys are cashing out big time
God help 9ja

.........modified
this evening it jumped to 1,165/pound

BoldBrainz:


If you'd followed all my nairaland comments from the very week Tinubu disposed subsidy and floated currencies, I vehemently hammered on this very outcome. I tried to explain how this very FX harmonisation policy was going to be very detrimental to the naira, which might possibly result to the collapse of the economy, because you cannot float a currency whose availability you cannot guarantee to keep up with public demand.

Unfortunately, the usual APC propagandists came at me in droves, calling me all sort of names, telling me how I knew next to nothing compared to their Chicago drug baron who they claim had a super degree in Economics..

Hell, I gave the Economy 6 months from July to be on its knees. Looks like I was even being too liberal with the reality on ground. Fuel marketers will import the next batch of petrol by this month end or early September, and there's no way in hell pump prices are not going to rise, given the prevailing circumstances.

Fuel prices
Gas prices
Transport fares
Food prices
Bride prices
Olosho prices
Healthcare prices
Drug/Medication prices
Etc...

The poor have been choking for at least 2 weeks now... Now, the poor are about to drop dead.

I ask for the umpteenth time: Does this nation have enough security and prisons??!

The looming revolution and anarchy will be historic if things don't change positively and fast... With the way he is testing the patience of the North with this Niger matter, it might start there... Adamawa was just a test drive.

Not an expert... but from observations... the Naira is going to tumble against the dollar for the next six to eight weeks due to dollar demand. Why? This is the time merchant's need to order stuff for Christmas and the dollar will become scarce .... demand and supply. Come December ... there will be no need to be scrambling dollars .... and thise coming from abroad will be trooping in with dollars .... flooding the market ... bringing the Naira to below its present rate.
Have Naira in the bank?... it is losing value. My advice ... flip it ... buy US currency at the present rate .... and resell in 4 weeks time. After Christmas .... buy US currency and hold. There is nothing on the horizon that will lead to the strengthening of the Naira. Buy assets now before the prices catch up.

Christ have mercy!

Nothing new here...going by history yorubas have a track record of destroying everything whenever they have managed to get power (with the exception of OBJ who unified the country by employing the best brains under his tenure regardless of tribe or religion). Right from the indigenization policy from 1972 when the military government of Gowon bequeathed numerous companies and enterprises (both private and public) to Yorubas as a reward for their role in the "civil war"...majority of the Federal government positions and civil service jobs that were once dominated by Igbos before the civil war were all staffed by yorubas...that was how so many yorubas became millionaires overnight thanks to the heavy patronage and big contracts they were awarded to them by the then government (as a thank you Awolowo kissing Gowon's arse)...meanwhile Igbos were handed absolutely nothing and had to rebuild from ground zero with crumbs. The post war three "R's" policy of
Reconciliation, Reconstruction, and Rehabilitation agenda that was sold to the Igbos ended up being a scam. Igbos had to resort to sheer ingenuity and resilience in rebuilding their war ravaged region, with the scars yet to heal completely.

What happened after? in just less than a decade the yorubas destroyed all those Nigerian owned companies and corporations that once thrived in the 70's- that was how they ran Leventis store aground and rendered it moribund.

We're seeing history repeat itself again under an Ebola government; Ebola has staffed all the sensitive Federal parastatals of his illegitimate govt with his yoruba kinsmen...now our economy has gone from bad (under Buhari) to worse, dollar to Naira rate is now almost N1000 to $1!, gas prices are through the roof, inflation rate is on a rise, poverty abounds everywhere and I shudder to think what the multidimensional poverty index will be looking like now, insecurity situations are getting worse, Boko Haram that seemed to be subdued for a while now are now back in full force etc yet when you call out these maladies, Ebola's roaches will be quick to call you "Ipob" or "wailer"...yet na dem dey suffer pass o!

Yet amidst all this chaos, Ebola is flexing his weak and corrupt-ridden military might in a country that has brazenly disrespected him time and time again.

Brace up Nigerians, we're in for a bumpy ride.

whippersnapper:
Nigerians should not panic. The senate president will send some token to everyones bank account to cushion the effect of subsidy removal

My God

If you like go and buy dollars at black market rate, na you sabi. The official rate is around N760 in banks. If government is selling petrol at N600 and you decide to go buy at black market for N1000. Na you sabi o.

symbianDON:
Tinubu will turn out to he the most clueless president ever! Dude actually hit the ground clueless! Everything is spinning out of control but some dolts, who's conscience have been eroded, are here on nairaland trying with so much effort to defend this man's cluelessness in exchange for a paltry inconsistent stipend!

I honestly can't believe people can compare another person's administration with Buhari's and give Buhari accolades...!

Jagaban needs to think and act faster, or just fvcking resign. This is deeply and insanely embarrassing.

3 zeros loading.

They need a strong domain name with the apt key-word in .com.

Contact me to provide them.

gentposh:
I have this group, they want their name to appear on Google when ever someone searches for them. Pls how can i go about it?

Ooni:
Only very few non-yorubas know that the Yoruba nation is under a curse placed by alafin Aole in 1836.

So a single person placed a curse and all the religious institutions we have cannot intercede to break the curse ?
Was Nigeria even an entity in 1836 ?

Ofunaofu:
One of the most foolish decision ever made by this calamitous Tinubu government is the exchange rate unification nonsense


Instead of putting measures in place to drag the parallel market exchange rate down from 750/dollar to meet the official exchange rate of 460/dollar, the government move the official exchange rate up to meet the parallel exchange rate masking it as exchange rate unification.


After he must have removed subsidy from petrol without any single local refining capacity


How did we get here as a Nation

the removal of subsidy without refineries means we still import fuel and still need dollars to do that. It was a foolish move to remove so many subsidies and within a short period.
That's why playing politics after getting go power is bad. He kept dishing out political moves and the whole thing was pleasant to him like normal politics. He saw himself as succeeding but only succeeded in
making the wrong moves.

Originalsly:
Not an expert... but from observations... the Naira is going to tumble against the dollar for the next six to eight weeks due to dollar demand. Why? This is the time merchant's need to order stuff for Christmas and the dollar will become scarce .... demand and supply. Come December ... there will be no need to be scrambling dollars .... and thise coming from abroad will be trooping in with dollars .... flooding the market ... bringing the Naira to below its present rate.
Have Naira in the bank?... it is losing value. My advice ... flip it ... buy US currency at the present rate .... and resell in 4 weeks time. After Christmas .... buy US currency and hold. There is nothing on the horizon that will lead to the strengthening of the Naira. Buy assets now before the prices catch up.

Naira has NEVER gained any significant value since the 1970s. Saving in dollars in Nigeria is an "investment" that will NEVER lose value.

It WILL always fall.. The best any president can do is to reduce the rate of fall. Buhari being the worst president in the history of the universal had the worst rate of fall. Naira, under Buhari, fell by over 300%. Tinubu is gradually taking that path.

This news de sweet me low key. My fiverr and binance de represent wella. 15000 dollars i started saving from buhari regime when dollar was 400 don blow up in naira reach now and I won't touch it till naira reach 2000 per dollar. I go just use am buy house, come japa.

AdesegunSanni89:
If you like go and buy dollars at black market rate, na you sabi. The official rate is around N760 in banks. If government is selling petrol at N600 and you decide to go buy at black market for N1000. Na you sabi o.

Banks indeed! Who do you think makes the Black market thrive??!...

Think! Think!! Think!!!

Those of you supporting these leaders are really trying... You better be well compensated.

Angelfrost:


I honestly can't believe people can compare another person's administration with Buhari's and give Buhari accolades...!

Jagaban needs to think and act faster, or just fvcking resign. This is deeply and insanely embarrassing.

it's quite disappointing to say the least

Asiwaju is coming