Endymi:


Funny,but as bad as it is,some bussiness will keep going on, definitely because every human must drink water,a bag of water is sold 350 over here,and there are company selling more than 5,000,some more than that per day.
Water no get enemy
I know it's not easy for now,but definitely things will normalize soon.
Let's hope so.
Those that don't succeed sometimes in business is because of proper management.
And I was only encouraging those outside, because of the exchange rate though.
Things no go continue like this forever 🙏.

EtinosaDLaw:
Tinubu the first-class accounting graduate who once asked Nigerians "shey na statistics we go chop?" will handle economy, while Shettima who once harboured a Boko Haram executioner in his home will handle security. How market now??

Quite frankly, I don't blame Tinubu. The RED FLAGS were there, but some persons voted for him because of their hate for the igbos. He knows that Nigeria houses the largest cluster of dumbfucks in the world, so how did yall expect him to even attempt to give a shit about yall if yall don't give a shit about yourselves enough to shun tribalism?

I mean, the man was literally licking a microphone when he was asked to "test" his microphone during the electioneering campaigns. Don't take my word for it, go to YouTube and search for the video. He was stumbling and falling, making unintelligible statements, depending on teleprompters to make speeches, giving completely unrelated answers to questions he asked, being held like a child during rallies so he does not fall, avoiding debates etc.. etc... etc... yet some people defended him by saying that all they need is his brain, when clearly the man's brain (if he has one) is evidently fried.

Una go learn the way, nor worry.

Kennyswag:
90% of the people that will comment on this thread don't have any business with dollar as they are poor. But na them sabi talk pass.

alsudan:
Definitely hits 2k before February Ends.

As Dull as Buhari was, that man na Albert Einstein where Thiefnibuu dey.

Criminals wey police delay died don full street oh.... The hardship don bursterian Dem out. Fear what next, I for join police kia, I don fuckup.... At least na to de raid people for night steady

LieutGen:


Quite laughable!!! You are too funny Bro. Very funny.

So you think that "Online Converters", as you call them, are responsible for naira depreciation? You actually need a whole lectures on how macro economy operates.

Is it only in nigeria or naira can the so called converters manipulate? Why haven't they manipulate Pound/USD or Cedes/Usd or Cfa/Usd or any other currency? AbokiFX was banned from internet space sometime ago, did it change anything? At some point, the CBN had to publish a realistic exchange rates equivalent to the Aboki rate.

Your thinking, similarly to some of the policies of CBN are just remedial and can only be felt in very short time, before the doom continues.

Exchange rate stability is macro-economic in nature. You can't revert it by mere issuing a directive.

To stabilize the exchange rate, you must maintain your Balance of Payment equilibrium. This simply means that your Export must be equal or higher than your Import. But today, nigeria basically depend on foreign imports for virtually everything they use. Farmers can't go to farm, Investors are leaving en mass, small production companies are closing down due to operational cost especially diesel price. The roads are not safe, neither are the roads motorable. We can't refine our fuel & can't pay subsidy. All the know economic variables are on the downside.

Should I mention the dollar dominated loans taken by Buhari and how Emefiele was printing & injecting more naira to the economy in the name of Mean Advances?.

My brother, we are in for a long thing. Leave the online converters, they are not the cause of anything.

Dee60:


You have a point but you need to check out Cuba abd North Korea. It is this kind of reasoning that killed their economies and threw their people to hunger. Nigeria is exporting a lot. We can and should export more. Our earnings from crude oil (and now from refined oil) surpasses the genuine demand for forex. The problem is with the crude oil. There is no accountability and no transparency. The dollars we ought to have to keep a healthy economy may be hidden in toilets and latrines around the country.

Goodlady:

Do I look like a yoruba woman?
And what's ya obsession with people that voted Tinubu?
He was bored across all tribes.
Yorubas too voted Atiku and Obi so why are you crying?
Nigeria has always been bad!
Why can't you talk about the system of the country?
Who's ya state gov?
Is he doing well?
Can you swear with ya life?

Ken4Christ:
This is no longer funny. The rate at which naira is falling against foreign currencies is fearful. I have made a few suggestions that should strengthen our naira and revive our economy.

1. Stop selling our crude oil dollars. You import and buy in dollar. You also export and sell in dollars. It makes Naira useless. Foreign countries coming to buy our crude or any other products should buy in Naira. It will raise the value of naira.

2. The government should embark on massive industrialization. They should stop importing items we can produce. I feel like crying when I see the millions of Keke imported to Nigeria all over the nation. Can we produce Keke aka tricycle? Are we cursed. There are millions of items we have no business importing.

3. Our borders should be fenced round to reduce smuggling. It's a huge project but it can be done. If they can lay pipe from niger Delta to the north, they can do it. Our open borders makes it easier for terrorism to thrive.

4. The government should take the agricultural sector very serious. We are so blessed and our land is fertile. They should not leave agriculture to peasant farmers.

5. Our railway network should improve. It will reduce the overhead cost on food items caused by high cost of transportation.

6. Build gas stations all over the country and encourage people to convert to gas. It's for cheaper than petrol.

7. Give loans to small scale businesses so they can grow their business and help strengthen the economy of the country.

8. Stop importing refined petroleum products. It gives room for fraud. Make all our refineries work.

9. Make every political office holder account for funds they are given for certain project. And punish without mercy those who misuse or divert public funds for private use.

10. Pass a bill that makes contract inflation a criminal offense. A contract that can be carried out for 500 million will be put at 10 billion so they can have money to share. This is destroying our economy.

yesloaded:
African leaders n pride

The country can not survive with this kind of senseless inflation

Naira losing value every minutes makes no sense

Between yesteday & today, about 100naira difference on 1 dollar to naira

NLC should forget about fighting for any minimum wage because that is not the solution

Fg should not even think about printing more naira because it spells more doom for naira

Invite people who understand economy even if they are not members of APC

This is not a time for paddy paddy arrangement but a time for serious business

There's no justification for dollar selling at over 1700naira

Mr president should have a good rethink before things get out of hand

My humble opinion

Lebanon is in a financial crisis that's been described as one of the worst globally since the mid-19th century. The government defaulted on $30 billion in international debt in 2020 and allowed the economy to crater, with a combination of triple-digit inflation and a currency meltdown wiping out people's life savings.

The Lebanese pound continued to depreciate sharply despite the central bank's foreign exchange interventions to attempt to stabilize the....

$1 is currently worth a 100,000 Lebanese pound.

yesloaded:
African leaders n pride

The country can not survive with this kind of senseless inflation

Naira losing value every minutes makes no sense

Between yesteday & today, about 100naira difference on 1 dollar to naira

NLC should forget about fighting for any minimum wage because that is not the solution

Fg should not even think about printing more naira because it spells more doom for naira

Invite people who understand economy even if they are not members of APC

This is not a time for paddy paddy arrangement but a time for serious business

There's no justification for dollar selling at over 1700naira

Mr president should have a good rethink before things get out of hand

My humble opinion

yewit37486:


It's never too late to go back to school instead of making a 'fuul' of yourself online asking stupid questions that even secondary school students have the answers to.

By the way, when you are done producing your crude oil and PMS in your backyard, let us know.

TOPCRUISE:
I exchanged my 100 dollar for N140000 last week. Now I am regretting.

TOPCRUISE:
I exchanged my 100 dollar for N140000 last week. Now I am regretting.

airsaylongcome:


Agreed that people make money on the upside and others on the downside. But in a very volatile market like Nigeria, now is not the time to enter the market. There's a reason we are having very little foreign direct investment at the moment. Government policy that are not reliable or predictable. People enter the marker when it has bottomed out. And our currency volatility hasn't reached its bottom. Yet. What someone will spend €6k for now may only require €3k in a matter of weeks. Basic economics

MrCork:


GREAT NEWS!!!
...meaning....we... all men (married & single)can now easily hav 3some with olosho!!!!!(((TANK ME LATER)))

Ken4Christ:
This is no longer funny. The rate at which naira is falling against foreign currencies is fearful. Below are a few suggestions that should strengthen our naira and revive our economy.

1. Stop selling our crude oil dollars. You import and buy in dollar. You also export and sell in dollars. It makes Naira useless. Foreign countries coming to buy our crude or any other products should buy in Naira. It will raise the value of naira.

2. The government should embark on massive industrialization. They should stop importing items we can produce. I feel like crying when I see the millions of Keke imported to Nigeria all over the nation. Can we produce Keke aka tricycle? Are we cursed. There are millions of items we have no business importing.

3. Our borders should be fenced round to reduce smuggling. It's a huge project but it can be done. If they can lay pipe from niger Delta to the north, they can do it. Our open borders makes it easier for terrorism to thrive.

4. The government should take the agricultural sector very serious. We are so blessed and our land is fertile. They should not leave agriculture to peasant farmers.

5. Our railway network should improve. It will reduce the overhead cost on food items caused by high cost of transportation.

6. Build gas stations all over the country and encourage people to convert to gas. It's for cheaper than petrol.

7. Give loans to small scale businesses so they can grow their business and help strengthen the economy of the country.

8. Stop importing refined petroleum products. It gives room for fraud. Make all our refineries work.

9. Make every political office holder account for funds they are given for certain project. And punish without mercy those who misuse or divert public funds for private use.

10. Pass a bill that makes contract inflation a criminal offense. A contract that can be carried out for 500 million will be put at 10 billion so they can have money to share. This is destroying our economy.

Inosky:


You're advising a crim!nal. It's useless to him. You're probably one of those that voted him, I guess? If that's so, then wait for the consequences of your insensitivity and actions if you haven't started experiencing it. All of you that voted this clueless criminal in power for tr!balism sake, the consequences of your actions will be massive that it will go beyond you.

wrongnumber:


Redenomination is the best way out

Redenomination is the reduction in the par value of a currency by a factor of ten, hundred or a thousand.

That is, the worth of goods with which an individual can consume with a thousand Naira would automatically be consumed with a Naira or 10 naira depending on the redenominated value.

It is not a permanent fix but a good way to reboot the economy.

The government will now need to implement good policies that when combined with redomination will bring about a lasting solution

Kennyswag:
shutup and get out