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Nairaland Forum / Nairaland / General / Politics / Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 (2144 Views)
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Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by Notfogotten: 3:45am On Feb 15 |
Today's naira exchanges for NGN1,700.00. Fuel landing cost now at NGN1,020.00 I card of paracetamol to sell at NGN500.00 A bag of cement now NGN 10,000.00 Change you Naira to Dollar now that you have the time. Your politicians are stealing your naira and converting them to USD. 1 Like |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by malali: 3:51am On Feb 15 |
There is more than meets the Eye. Why do i feel some people are counterfeiting the naira. Because no one can really explain how there is an infinite amount of Naira in circulation. Even if the naira was free floating by now there should be an equilibrium. It should have pegged itself. The only reason why the naira can be dropping till infinity is if the production is unlimited ? Counterfeiters ? To be realistic, no amount of salary increments can resolve this. This is very serious, the government has to act now........There are so many African countries, who do not even produce crude oil or subsidize forex but their local currency is stable. Why is the naira dropping everyday ? Are people counterfeiting the naira ? 6 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by Nwodosis(m): 3:58am On Feb 15 |
Let's be patient with Tinubu, he tamed the Atlantic Ocean, he will tame the dollar before his 8 years is done! 20 Likes 1 Share |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by Forkthiefnubu: 4:18am On Feb 15 |
malali:This is so far fetched that it is kind of assuming Nigerians are stupid and will accept any balderdash 2 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by TheBillyonaire: 4:53am On Feb 15 |
You should be happy that a dollar can now feed you for a whole day. Give Tinubu a chance. Renewed Hope Agenda is on course. 6 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by nurey(m): 4:56am On Feb 15 |
We will extract oil from agbado and use it as fuel, we have agbado reserves plenty for bourdillon 2 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by nurey(m): 5:02am On Feb 15 |
malali: Are you just waking up As far back as 2012 there was clamor that tens of ship birth in Nigeria waters loaded with goods, but leave our shores with empty container. 80 to 90% of our earnings is oil, other earnings like mining, forest reserves and mineral resources other than crude are been smuggled out by our leaders. All the farmers don japa from bush including as fulani marauders no gree make we farm in peace. In other words Nigeria is living above its means currently. Buhari killed Nigeria by printing 22trillion naira without tagging to any productivity. A serious gov will damn all consequences and pick Buhari up and enslave him and his generations seizing anything tied to that cursed name. 21 Likes 1 Share |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by ivolt: 5:06am On Feb 15 |
Forkthiefnubu:You just replied a bot. |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by Tflex01: 5:13am On Feb 15 |
Amennnnn |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by malali: 5:38am On Feb 15 |
nurey: The rate at which things are going. The fuel subsidy has to be reintroduced or else they have to start food subsidy. The only other solution is to export crude oil agreed quotas and then sell subsidized crude oil to dangote refinery with an agreement to sell subsidized petrol to Nigerian government in return for the subsidized crude oil allocation. 2 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by gaby(m): 5:59am On Feb 15 |
Puekeyoooo |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by phorget(m): 6:14am On Feb 15 |
Nigeria is on a free fall! Let it be known that our rulers have successfully destroyed our beautiful country and our masses successfully contributed to the destructions. Election has it own consequences. 6 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by nurey(m): 6:29am On Feb 15 |
malali: All this one you are talking will.not work, Nigeria will crash just a matter of time, I am not a pessimist though but time to pray has gone, it's time to wake up and survive. It is only agriculture that can save Nigeria big time currently as long as insecurity is still not tackle and we aren't producing and exporting anything other than crude oil, we are heading for doom. 1 Like |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by malali: 6:33am On Feb 15 |
nurey: With so many countries that developed with oil we are heading for doom. |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by arantess: 6:34am On Feb 15 |
malali:Everyone should ignore this bot pls |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by condralbedez: 6:34am On Feb 15 |
Cooking Gas=1,500 not to even have food stuffs now, but do you have Gas to cook the meal? 1 Like |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by ExudeLoveToAll: 6:41am On Feb 15 |
malali: In this case the counterfeiting gives birth to original notes and not fake notes, fake notes can be expunged as quickly as possible because of security features on the features. This problem is getting out of hands, the CBN should do the needful. This is not funny anymore. 1 Like |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by ExudeLoveToAll: 6:43am On Feb 15 |
Forkthiefnubu: He is just only trying to play around CBN printing excess cash that isn't needed to keep things in check. |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by malali: 6:52am On Feb 15 |
ExudeLoveToAll: I agree with you, the naira is coming out of somewhere that the government doesn't have control over ? It feels like some people have bullion vans of naira in vaults at home, that they keeping changing to dollars. The whole point of floating the naira is to find a balance, if the minting of naira has been compromised, the naira can fall too 1$ to 10,000naira. The government should act now, if not this is going to be a disaster. I believe some people are hiding billions in naira at home and are changing it to dollars easily in the black market. 2 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by ahmedio2017(m): 7:18am On Feb 15 |
nurey: Mumu, go and pick him up now, sebi he was the one that removed fuel subsidy? Float naira? Why are you like this in this country? They will just be quoting rubbish for you and you will just be accepting them without any verification. Imf and word bank advice your emilokan to remove subsidy, he did without providing any solution. That same west is subsidizing a lot of food, and other items for their respective country. All the countries of the world subsidized things for their citizens in one way or the other but in Nigeria reverse is the case. When he removed fuel subsidy, some of the proceeds is supposed to be use for subsidizing food but they are embezzling it and you are just shouting buhari left and right like a mu.mu na buhari dey government? Na him remove subsidy? Na him float naira? What is UK producing that make their pound to be so strong? Oga wake up. 1 Like |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by nurey(m): 7:20am On Feb 15 |
ahmedio2017: There is no need for insult sha As he dey pain u, he dey sweet me As he dey sweet me, he dey pain you |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by Gadafii: 7:27am On Feb 15 |
Apc can to destroy and plunder. If at this point you are still supporting apc, tinubu or buhari because of partisan politics, tribe or religion, arrogantly defending the bulaba calamity, saying he will rule for 8years and noting go happen, and after then power will shift to the north. You are an irredeemable fool 3 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by EponObi: 7:27am On Feb 15 |
nurey: 🤣 Some are still sleeping. It's divine intervention that we got someone at this point to do the necessary, even though his decisions are unpopular and the consequences are damning. I can't imagine how serious our situation would have been if we ran the country for the next decade like we've been running it. Of course, the people don't deserve this current hardship (to some extent). We are currently reaping the fruits of how our leaders ran the government the last six decades. 2 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by RickyJesus: 7:29am On Feb 15 |
malali:You are mad. |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by ahmedio2017(m): 7:30am On Feb 15 |
nurey: Lolz aren't you tired of being like this? Are still collecting money for food at home? |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by malali: 7:31am On Feb 15 |
Way forward ? |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by EponObi: 7:33am On Feb 15 |
ahmedio2017: You are not enlightened. Of all countries, na UK you picked to drive home your argument. Go and ask Britons what's up now? Ask them how their middle classes are faring and the rate people are entering the poverty zone because of raging inflation. |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by RickyJesus: 7:35am On Feb 15 |
malali:Oh I am pained, one nonentity crafted a kindergarten Jap to inflict pain on me. What an idiot. |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by NOGRUDGES(m): 7:47am On Feb 15 |
Tinubu will be remembered as the best president after 8 years of rule, the next president will be will be dambanza shege ultra pro max You think that by plundering other nations resources for the west will bring development Prophet fela we still dey vibe to your music 1 Like |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by ahmedio2017(m): 7:49am On Feb 15 |
EponObi: Hmm I know of the inflation, but what make their pound to be so strong against naira that's the question oga, you don't the person you are chatting hence you won't talks about enlightenment. |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by Inspirer1: 7:53am On Feb 15 |
malali:Absolutely on point, I feel the people in power are unaware of how bad things are. NLC doesn't know what they are doing, instead of grounding things for a practical solution to correct the situation on ground, they are going to negotiate salary increment for few people, increment that's already useless before being agreed. 2 Likes |
Re: Nigeria Moving Towards Economic Crises. USD Now NGN 1,700.00. Fuel @ NGN1,020.00 by EponObi: 8:32am On Feb 15 |
ahmedio2017: It's simple. Supply and demand. You can't compare the pound with the naira because I'm the UK, the manufacture and export. Meaning, other nations buying their product translates to the strength of the pound. In Nigeria we don't produce anything. We only buy and buy. Zero sell. This imples zero demand for the naira on the international market. Without demand, you can't find strength. The past years, Nigerians don't understand how serious the issue is because the government has been protecting them by protecting the value of naira. We've defended the naira with $1.2b per month so that naira can maintain its peg against the dollar. That's why this administration isn't doing again, so with nothing to defend the peg and zero demand for naira, it has been on a free fall. What's happening now is that the naira is finding it's real value. What the real value is, no one knows. Btw, if you are enlightened as you claimed, these are basic economics you should know. You should be the one explaining, not asking questions. No offense. 2 Likes |
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