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Nairaland Forum / Nairaland / General / Business / Why Are Nigerians Still Buying Dollars (29674 Views)
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Re: Why Are Nigerians Still Buying Dollars by Loonyy(m): 9:17am On Oct 25, 2023 |
We won use am cook ewedu n gbegiri |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 9:18am On Oct 25, 2023 |
Johnrake69:The dollars belong to Dangote a Nigerian, not to foreigners. His dollars will stay in Nigeria. Know that now. |
Re: Why Are Nigerians Still Buying Dollars by Passionnn: 9:20am On Oct 25, 2023 |
Ikaeniyan0: 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. |
Re: Why Are Nigerians Still Buying Dollars by optimusprime2(m): 9:20am On Oct 25, 2023 |
theophorus: 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). 1 Like 1 Share |
Re: Why Are Nigerians Still Buying Dollars by kripen(m): 9:20am On Oct 25, 2023 |
LegacyB: BDCs you think are not enjoying it but the corrupt politicians are enjoying it |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 9:21am On Oct 25, 2023 |
Passionnn:I'm talking about the Dangote and PH refinery. I hope the refineries will work before the new year. |
Re: Why Are Nigerians Still Buying Dollars by darediamond(m): 9:21am On Oct 25, 2023 |
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. |
Re: Why Are Nigerians Still Buying Dollars by tctrills: 9:21am On Oct 25, 2023 |
theophorus: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. 2 Likes |
Re: Why Are Nigerians Still Buying Dollars by Geovanni412(m): 9:24am On Oct 25, 2023 |
culeca: 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. 3 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by Tohmey(m): 9:27am On Oct 25, 2023 |
FreeStuffsNG:Story story. . . keep on deceiving yourself Only 160m SUV can send naira to the moon |
Re: Why Are Nigerians Still Buying Dollars by warlordd(m): 9:27am On Oct 25, 2023 |
Acidosis: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. 3 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by kcprince: 9:28am On Oct 25, 2023 |
Ikaeniyan0: 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? 1 Like |
Re: Why Are Nigerians Still Buying Dollars by Johnrake69: 9:29am On Oct 25, 2023 |
Ikaeniyan0: 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. 2 Likes |
Re: Why Are Nigerians Still Buying Dollars by Khyrvxjzy: 9:30am On Oct 25, 2023 |
Acidosis: ignorance. removing subsidy dosent make naira gain, what affect naira is import and export |
Re: Why Are Nigerians Still Buying Dollars by Tohmey(m): 9:31am On Oct 25, 2023 |
Ikaeniyan0:Story story. . . |
Re: Why Are Nigerians Still Buying Dollars by Aleem26(m): 9:33am On Oct 25, 2023 |
Ozuo u fit use local currency run international trade? |
Re: Why Are Nigerians Still Buying Dollars by Khyrvxjzy: 9:33am On Oct 25, 2023 |
MadamExcellency: kuku make your own textbook |
Re: Why Are Nigerians Still Buying Dollars by Hotice085: 9:34am On Oct 25, 2023 |
pendusky: You are in naija, a country where the impossible is possible Always shine ya eyes nothing is impossible 1 Like |
Re: Why Are Nigerians Still Buying Dollars by Acidosis(m): 9:40am On Oct 25, 2023 |
Khyrvxjzy: Ignorance. Subsidy removal leads to lower fuel importation. Fuel import/consumption has dropped by over 30%. |
Re: Why Are Nigerians Still Buying Dollars by uuzba(m): 9:45am On Oct 25, 2023 |
culeca: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. |
Re: Why Are Nigerians Still Buying Dollars by LegitDiva: 9:47am On Oct 25, 2023 |
Re: Why Are Nigerians Still Buying Dollars by Acidosis(m): 9:56am On Oct 25, 2023 |
Re: Why Are Nigerians Still Buying Dollars by Bovis(m): 9:56am On Oct 25, 2023 |
Acidosis: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? 1 Like |
Re: Why Are Nigerians Still Buying Dollars by imagrg(m): 10:06am On Oct 25, 2023 |
Nigerians kill the Naira, nor necessarily the economy. |
Re: Why Are Nigerians Still Buying Dollars by imagrg(m): 10:08am On Oct 25, 2023 |
That's how we jointly destroy our economy with greed and fraud. kcprince: |
Re: Why Are Nigerians Still Buying Dollars by waveman2: 10:12am On Oct 25, 2023 |
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: |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 10:24am On Oct 25, 2023 |
Johnrake69:leave all this your unnecessary Shalaye Dangote dollars will stay in Nigeria. |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 10:25am On Oct 25, 2023 |
kcprince: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. |
Re: Why Are Nigerians Still Buying Dollars by Willie2015: 10:31am On Oct 25, 2023 |
Some of us trade... 1. Foreign Stocks 2 Forex and Crypto |
Re: Why Are Nigerians Still Buying Dollars by Coldie(m): 10:32am On Oct 25, 2023 |
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? |
Re: Why Are Nigerians Still Buying Dollars by iLoveYouToo(m): 10:32am On Oct 25, 2023 |
Nigerians lie too much, they tell you they are dying but their lifestyles tell a different story 1 Like |
Re: Why Are Nigerians Still Buying Dollars by NOwazobia: 10:32am On Oct 25, 2023 |
Acidosis:Our fundamental problem is corruption. You said it as it is. 2 Likes |
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