The naira yesterday depreciated to N1,565 per dollar in the parallel market from N1,510 per dollar on Tuesday.

Similarly, the naira yesterday depreciated to N1,503.38 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,503.38 per dollar from N1,499.07 per dollar on Tuesday, indicating N4.31 depreciation for the naira.

As a result, the gap between the official and parallel market exchange rates widened to N61.65 per dollar yesterday from N10.93 per dollar on Tuesday.

Source: https://www.vanguardngr.com/2024/02/naira-depreciate-to-1565-in-parallel-market/

Dollar Dey Increase On Daily Basis, CHA E!

If something urgent isn't don't to prevent the slide. We should be looking at 2000 naira to a dollar by December.

Omihanifa:
If something urgent isn't don't to prevent the slide. We should be looking at 2000 naira to a dollar by December.

December Is Very Far self, Before April, E fit enter 2,000naira

Well, we are here , because we did not diversify, diversify.

If you want to know why we are here, this article is for you. (It was published in 2004 by the way, so not an apologia for APC..Lol. It is also strangely prophetic).

The boom in the oil and non-traded goods sector increases the demand for imported goods. This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. [b]The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty[/b]

Sauce: Managing the dutch disease in Nigeria by
Dr. Emmanuel Ojameruaye

What we experienced from 1982 , we are experiencing now, since 2014.

Not looking nice ...

Nigeria's are weeping....

Tinubu is really here to teach Nigerians to stop voting along religious and ethnic lines. This hardship should reset the brains of those saying "we will teach them a lesson" by 2027.

If by 2027 you guys don't lead the campaign to vote for a credible candidate, I will gladly vote for Tinubu so that the hardship will go on. We must learn a lesson

People in the North are eating grass already, according to the news.
Muslim_Muslim ticket.

Nigerians are too docile. They should be calling for the sack of the CBN governor and the oresident by now

It will favor me and my family

On Tinubu's balls we stand gidigba.

Something must kill Nigerians.

Agbado and ewa economics graduate from chicago

The devaluation is favouring me, Dog bless our darling president.

10,000/$ is the target inshallah.

WTF is going on in this country.

"I'm not worried about exchange rate because your salary will be in Naira". Said Bola Tinubu. (23rd July, 2022)

Agbadorians, Even the statistics sef una no go see am chop.

We will all stand on that mandate till 2080, Obi must be taught a lesson he will never forget.

Stop it. It's not funny

EmeeNaka:
People in the North are eating grass already, according to the news.
Muslim_Muslim ticket.

Lols
People from the north are eating grasses and feed on shits from cows


Tinubulation

When you have a known drug lord of Chicago as your president what then do you expect. Baba is clueless aready

Which way 9ja

Anyways contact me to track lost or stolen devices at an affordable fee
Contact me via siggy below

handsomeyinka:
Not looking nice ...

Nigeria's are weeping....

Dem go weep blood very soon.

2000 in sight.

Snatch it, grab it and run...

When purpose isn't known, abuse becomes inevitable. Emilokan, they said he's been preparing for this office 20yrs ago.

Na the result we de see now. Let's continue to teach Obi a lesson

They don abandon naira like they did to agbadorians!!!
The idiots in power never considered How the economy is going to work after they devalued the naira considering the fact that minimuim wage is still below average.

See what APC and Tinubu has caused 🙄

Akamu and moimoi.

GIven the rate of inflation and if it becomes perpetual and faithful.

At the maximum this inflation will be one dollar per 2500 naira at the end of the year.

At the minimum it should be at 2000 naira per dollar.

We are getting there shortly

Please save us from this naira depreciates news everyday. Should we kill ourselves because Naira keeps depreciating? If you have better strategy and knows more than those incharge of fiscal and monetary policies, go and assist them.

Ethnic and religious bigots are Nigeria's number one problem

Vacancy

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