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Nigeria's Naira Reverses Back As World's Worst Performing Currency — Bloomberg / Russia's Ruble Is the World's Best Performing Currency / Why The Naira Is Now Gaining Against The Dollar (2) (3) (4)
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Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 1:47pm On Apr 12 |
Ofunaofu:How? In the past government supported the naira with as much as $20bn In a single financial year only for bankers to take dollars to the black market and make huge profits. Now even the black market rate is lower than official rate. Removing subsidies will actually help Nigeria's economy and future better than leaving the huge subsidy regimes in place. In Argentina today they're crying as inflation is 270% and they devalue their currency almost every month. Prices of basic goods increase by the hour. The same mistake Nigeria made for years was what they made too: crazy subsidies and not floating their currency. You should thank God for Tinubu. If Argentina is too far you might want to check out Iran and Lebanon. Iran has the world's second largest oil reserves. They subsidized madly like Nigeria from fuels to cooking oil and sugar. Today those same subsidies have messed up their economy and led to shortages. Today in Iran fuel is being rationed. There's a limit to how much fuel you can buy in a week. You are given a ration card. Is that what you want for Nigeria Or you want to try Lebanon where their currency has fallen to 89,000 Lebanese pound to a dollar due to unbridled subsidies like Nigeria before Tinubu? I can go on and on but time will not permit me. Just know this: no one destroyed Nigeria in recent times as badly as Jonathan and Buhari. Jonathan was even a bit better because Okonjo advised him to stop the subsidies and he wanted to but he allowed the likes of Tinubu to bully him. Bihari was a total disaster. 9 Likes 1 Share |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 1:50pm On Apr 12 |
Was that not among the reasons Nigerians removed the PDP? LegendHero: 2 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 1:51pm On Apr 12 |
Emefiele's policy eventually after rigmaroling LegendHero: 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 1:53pm On Apr 12 |
marsman:They don't know anything. They were buying imported rice at #7000 per bag not knowing they were eating their future and those of their children. Now if true capacity is built into our industries and agriculture, why not? Naira will rise and prices of agricultural products will come down on the back of a very strong naira. It would be like the 70s and 80s again when we had real production. Not the fake naira strength we had under Abacha, Obj, Jonathan and buhari. 8 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 1:56pm On Apr 12 |
Defending naira has been removed? You're so ignorant blamingthedevil: 3 Likes 1 Share |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by ngwaIgbo223: 1:56pm On Apr 12 |
While I love Nigeria to have strong currency we can't trust this American propaganda machine. 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 2:00pm On Apr 12 |
DMerciful: So na Emefiele policy make black market rate less than bank official rate? Anybody supporting Peter Obi no dey ever reason well so I am not surprised. 11 Likes 2 Shares |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 2:00pm On Apr 12 |
DMerciful: Then stop comparing PDP to APC everytime. 4 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by blamingthedevil: 2:01pm On Apr 12 |
DMerciful: Yes ... what is your point? 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 2:01pm On Apr 12 |
The naira is still being defended. Infact its penny wise, pounds foolish because its been defended at a price that does not favour the govt nor the citizens LegendHero: 1 Like 1 Share |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 2:06pm On Apr 12 |
DMerciful: Yes just as how una dey adamant say your gbajue Obi won. If they ask you for proof that Naira is being defended now, you go dey cry to CNN. If na the article that guy for that blog wrote, Same guy don dey talk something else. So tell me the mechanism CBN use in “defending” the naira. All the amount sold to BDC no even reach 10% of the actual market size for normal window. Since you supported a third class Gbajue like Obi, I know you won’t know this. 12 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 2:07pm On Apr 12 |
It has not. You know nothing! Even with access to the internet, you're so ignorant. Petrol subsidy and naira defense are still in full force blamingthedevil: 2 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 2:08pm On Apr 12 |
Did APC come to be worse than PDP? LegendHero: 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 2:14pm On Apr 12 |
You know its been defended but continue, lets see how far they can go LegendHero: 1 Like 1 Share |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 2:21pm On Apr 12 |
DMerciful:He said you should explain with proof. ABI we should just take your word for it? 6 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Elzazzi: 2:21pm On Apr 12 |
LegendHero: This dude can defend anything lol 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 2:23pm On Apr 12 |
Its in the internet, I don't have time to spoonfeed people predictor1: 1 Like 1 Share |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 2:26pm On Apr 12 |
https://nairametrics.com/2024/04/02/naira-defence-to-cost-cbn-n1-01-trillion-in-interest-rates-from-q1-ntb-auctions/ predictor1: 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by pquaver(m): 2:26pm On Apr 12 |
Lizzysamuel: Economics is not like that.. If u bought land at 28 naira would it have appreciated only by 188 naira? Same with loss.. This ur subtraction na for illiterates.. Ur target audience know themselves sha.. Na dem be hook line and sinker mob 7 Likes 1 Share |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by BeLookingIDIOT(m): 2:30pm On Apr 12 |
Lizzysamuel:That's a 8x increment for PDP compared to 6x for APC. Quit being a móron. 6 Likes 1 Share |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Feldie: 2:33pm On Apr 12 |
Lizzysamuel:you don't know how math works I guess, probably a secondary school student. N28 to 216 is almost 10x increase the equivalent of which would be over N2000 in the case of Apc. However, the first guy is wrong, the PDP met it at around N98 and plunged it to 216 while Buhari took it to 450/750 However, things that exist in today's Nigeria just didn't exist under PDP and the Naira was doomed to fall. I mean things like crypto, unbelievable number of young people doing yahoo and receiving their proceeds in crypto, denying the country foreign exchange but having access to millions of Naira which they use to inflate prices of goods etc. Tinubu unifying the exchange rate wasn't a bad thing because if he didn't, fellow Nigerians like you and I will be buying dollars at 450 and selling it at 750 making 300 per dollar. That means if you have access to 100k dollars daily, you will be buying it at N45m and selling it for 75m and making N30m profits every single day by doing nothing. The only thing you need to know some people. Tinubu unifying the exchange rate was good and since CBN have gained control of the situation, I'm confident that Dollar will continue to fall. 3 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 2:34pm On Apr 12 |
DMerciful: So you have no proof? 3 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by sunboy(m): 2:36pm On Apr 12 |
LegendHero: 😂😂😂 you get energy o. They want selective condemnation that’s all. 5 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by blamingthedevil: 2:36pm On Apr 12 |
DMerciful:Talk like a professional educated person, stop throwing insults ...how is naira still being defended? 5 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 2:53pm On Apr 12 |
https://nairametrics.com/2024/04/02/naira-defence-to-cost-cbn-n1-01-trillion-in-interest-rates-from-q1-ntb-auctions/ LegendHero: 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by DMerciful(m): 2:53pm On Apr 12 |
https://nairametrics.com/2024/04/02/naira-defence-to-cost-cbn-n1-01-trillion-in-interest-rates-from-q1-ntb-auctions/ blamingthedevil: 2 Likes |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by WantsandMore: 2:57pm On Apr 12 |
Lizzysamuel:You want floated naira back to the same rate it was being subsidized? Well it's possible 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by sunboy(m): 2:59pm On Apr 12 |
predictor1: While I agree with many things that you wrote, I disagree that you picked Iran as a case study. Next time stick to Argentina, Venezuela, Lebanon and Zimbabwe. Those countries are not under any sanctions but Iran is doing very good at managing things in the face of harsh sanctions for decades. Iran and Cuba will be prosperous if the sanctions on them are not there. Iran can’t even sell its produce open like Nigeria or Venezuela could. 2 Likes |
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