We won use am cook ewedu n gbegiri

Johnrake69:


Nigeria will still need dollars to buy from Dangote. Know that now.

The dollars belong to Dangote a Nigerian, not to foreigners. His dollars will stay in Nigeria.

Know that now.

Ikaeniyan0:
look at the billions of dollars we spent importing refined petroleum last year 🙆

When the Dangote and PH refinery start working, it will really relieve pressure on the naira.


I really pray the refinery will work

Prayer is not just enough.
What is required is will power and that is lacking.
Thttt art countries rhuch import fuel more than what Nigeria does yet their exchange rates are stable.
Government policy over the years of reckless borrowing and printing of currency without sufficient back up is what wrecked the currency. Subjecting the economy to the whims and caprices of politics is the major factor.

theophorus:
If you're praying that the USD should keep increasing in value against the NGN, then I urge that you keep buying more USD.

But if you are wise, you will know that something has peaked and its on it downfall gradually and it will not peak again for the next 3yrs.

In layman terms, as long as the economy is based on consuming, the Dollar, Euro, Pounds and all other foreign currencies will keep strangling the Naira. Its simple Economics.

Currently Nigeria is grabbing a loan in USD that is potentially bigger than the foreign reserves, to basically service more consumption... in the absence of significant revenues from export or foreign investment, what do you expect... Economic miracles?


(The USD demand is simply higher than USD supply).

LegacyB:

This as nothing to do with politics or government. It’s just simple demand and supply economics. E.g Importers import only 60 percent of what they previously imports. That should give you a direction. People abroad would send more money in sharply to advantage of the high rates. People and companies will naturally substitute foreign products will local products. And many more . You think the BDCs are enjoying this? Nooooooo

BDCs you think are not enjoying it but the corrupt politicians are enjoying it

Passionnn:


Prayer is not just enough.
What is required is will power and that is lacking.
Thttt art countries rhuch import fuel more than what Nigeria does yet their exchange rates are stable.
Government policy over the years of reckless borrowing and printing of currency without sufficient back up is what wrecked the currency. Subjecting the economy to the whims and caprices of politics is the major factor.

I'm talking about the Dangote and PH refinery. I hope the refineries will work before the new year.

The Type Of POLITHIEFCIANS in Nigeria are Not Corrupt But WICKED ONES WHO PRACTICE EXTREM SUPPRESSIVE POLICTS AGAINS ORDINARY CITIZENS.

After Tinubu, The New President Will Still Remove"Fuel Subsidy". Further Delibrately DEVALUE NAIRA to favour themselves and BRITAIN. Refuse to Repair the Refineries let alone LET ELECTRICITY BEXOME PERMANENTLY STABLE.

The Only Solution To These Main Reasons I Itemized Is CURRENCY ARBITRAGE.

theophorus:
If you're praying that the USD should keep increasing in value against the NGN, then I urge that you keep buying more USD.

But if you are wise, you will know that something has peaked and its on it downfall gradually and it will not peak again for the next 3yrs.

Do you know that the upper middle class and the rich save their wealth in foreign currency? Naira can never recover because many have lost faith in it. Even you would accept dollar payment over naira.
More Nigerians would continue to convert their Nairas to dollars and continue to devalue the naira. It's a joke if a currency.

culeca:
You will not understand sha

Tor....

If you have a business online, you need dollars for web hosting

If you want a business email, you need dollars too

If you want to pay online courses to advance your professional skills, you need dollars

If you want to blow like Mr. banks and play on stake.com, you still need dollars

Anybody asking why Nigerians are still buying dollars needs to rethink his life.

FreeStuffsNG:

You will understand when you are burnt or arrested and prosecuted for hoarding fx and crowding out those who genuinely need it.

Story story. . .
keep on deceiving yourself
Only 160m SUV can send naira to the moon

Acidosis:



10 working refineries will nof fix corruption, criminality, and bad leadership.

Having more functional refineries will only give NASS members more reasons to buy 5 Prado each as opposed to 1 each.

Even the Prado was bought with dollars because they were imported. Why didn't they buy Innoson cars which are made in Nigeria to heip strengthen our naira? Our leaders are criminals. God will punish all of them.

Ikaeniyan0:
Nigeria economy is doing far better than Ghana economy

Unless you can bring out solid point to back up your claim Ghana economy is better than Nigeria own.

There's no way I will believe a country that can't pay her debt is doing better than Nigeria

Backup your comparison with a link because I don't think we are doing better than them. Both countries have bad economies but you said their own is worst than ours. I would need to know where you got that from. Or is it your assumption?

Ikaeniyan0:
The dollars belong to Dangote a Nigerian, not to foreigners. His dollars will stay in Nigeria.

Know that now.

Lol… Have you asked why he opened a Newyork office?


This was what he said in 2020.

Aliko Dangote said he will open an office in New York, United States, to help diversify his investments and avoid the risk of currency fluctuations in Nigeria.

So you think that he will store his dollars in Nigeria?
Na imagination wan finish Una so with this Agbado economy.

Acidosis:



So why hasn't the Naira gained significantly against the dollars since the removal of subsidy??

When we paid subsidy in billions of U.S. $$ - Naira was @700


Subsidy was removed in 2023 and Naira fell badly to N1200


What other evidence do you need to know that nothing thrives in the midst of corrupt and stup!d leaders??

ignorance.


removing subsidy dosent make naira gain, what affect naira is import and export

Ikaeniyan0:
I'm talking about the Dangote and PH refinery. I hope the refineries will work before the new year.

Story story. . .

Ozuo u fit use local currency run international trade?

MadamExcellency:
Anyone telling you that Naira is crashing due to importation is lying to you. Why is the US Dollar not crashing to the Chinese Yuan?

It is crashing because Nigerians lack confidence in their government and country.

It is crashing because of a lack of effective policy implementation.

It is crashing because every family wants to send one or more of their children abroad.

It is crashing because we have more bad guys in leadership positions who know how to follow shortcuts and evade punishment.

Finally, it is crashing because of the lack of credibility of the President.

kuku make your own textbook

pendusky:


Which year has the naira gained before when e crashed

You are in naija, a country where the impossible is possible
Always shine ya eyes nothing is impossible

Khyrvxjzy:


ignorance.


removing subsidy doesn't make naira gain, what affect naira is import and export

Ignorance.


Subsidy removal leads to lower fuel importation. Fuel import/consumption has dropped by over 30%.

culeca:
You will not understand sha

Yeah, I don't.
People have planned, once again to destroy the Economy more than now,
so the dollar price will rise more in future.
And same people will blame the government instead for destroying the economy that THEY themselves destroyed.

Acidosis:


You have not answered his question.

Youre still on NL

Good to see a familiar moniker again

LegitDiva:


Youre still on NL

Good to see a familiar moniker again

Yes ooo

Acidosis:



So why hasn't the Naira gained significantly against the dollars since the removal of subsidy??

When we paid subsidy in billions of U.S. $$ - Naira was @700


Subsidy was removed in 2023 and Naira fell badly to N1200


What other evidence do you need to know that nothing thrives in the midst of corrupt and stup!d leaders??

Dumb post, naira has not gained since FG removed subsidy because petroleum companies still require dollars to import diesel and petrochemicals into the country. Do you you think they are getting the dollars from the sky?

Nigerians kill the Naira, nor necessarily the economy.

That's how we jointly destroy our economy with greed and fraud.

kcprince:

They run to IMF we run to china , African development bank, world bank. In fact we even seek bailout to fund palliative and buy SUV’s for serving members of rep.

Oh so you think naira is cryptocurrency.when have you witness the naira go up against the dollar then come down drastically.My friend the naira is finding it's true value.pdp then buhari have been defending the naira then tinubu came and remove everything.The only benefit the mass enjoy is govt keeping the naira close to the dollar while politicians keep milking nigeria but tinubu told us we are on our own and then him and his gang will keep everything to themselves after giving your likes 2000 per vote.The dice is cast is now survival of the fittest.A gulf has been drawn between the rich and poor.

theophorus:
If you're praying that the USD should keep increasing in value against the NGN, then I urge that you keep buying more USD.

But if you are wise, you will know that something has peaked and its on it downfall gradually and it will not peak again for the next 3yrs.

Johnrake69:


Lol… Have you asked why he opened a Newyork office?


This was what he said in 2020.

Aliko Dangote said he will open an office in New York, United States, to help diversify his investments and avoid the risk of currency fluctuations in Nigeria.

So you think that he will store his dollars in Nigeria?
Na imagination wan finish Una so with this Agbado economy.

leave all this your unnecessary Shalaye

Dangote dollars will stay in Nigeria.

kcprince:


Backup your comparison with a link because I don't think we are doing better than them. Both countries have bad economies but you said their own is worst than ours. I would need to know where you got that from. Or is it your assumption?

https://www.aljazeera.com/amp/news/2022/12/20/ghana-suspends-payment-of-most-external-debts

https://www.nytimes.com/2023/09/18/business/economy/ghana-debt-imf.html

Nigeria economy is far better than Ghana own. A country that had to suspend paying most of its external debt can't be compared to Nigeria that's able to pay its debt.

Some of us trade...

1. Foreign Stocks
2 Forex and Crypto

Imagine if people listened to ur advice months ago when some liars told NIGERIANs that dollar would drop once they remove subsidy, did it happen?

Nigerians lie too much, they tell you they are dying but their lifestyles tell a different story

Acidosis:



10 working refineries will nof fix corruption, criminality, and bad leadership.

Having more functional refineries will only give NASS members more reasons to buy 5 Prado each as opposed to 1 each.

Our fundamental problem is corruption.

You said it as it is.