gbengene1234:
To summarise it all. Nigerians are just wicked people. From top to the bottom. It's easy to raise cost of goods once the dollar appreciate even when they still got goods in stocks. But when Naira appreciate, they needed to wait and see before price comes down which might take up to 60-90 days. Hypocrite everywhere. You see them using different grammars to defend their selfishness. Its high time the Federal government start regulating costs. Laws need to be made to restrict Business Organisations to some certain levels.

Very wicked and unpatriotic.
The same wickedness that made someone convert her entire gratuity to dollars and start praying and hoping that it gets to N3000.

jmoore:
If petrol was being sold for 617 naira per litre when 1 dollar was equal to 1,600 naira, then it should sell for 424 naira now that dollar is equal to 1,100 naira.

If NNPC doesn't reduce the price of petrol to 424 naira, then inflation will be on our faces.

Exactly!
I was telling one idiot few days ago that the high cost of commodities doesn’t solely depend on exchange rate and he was talking nonsense. The main issues are there unaddressed.
People shy away from the truth and become dumb for selfish reasons. For instance, how can Custom be having its own exchange rate higher than every other rates in Nigeria ? They slam this same rate on every imported goods and people begin to blame the sellers of the products… who wants to do a business at a loss!

Now, security, a major problem is there, no one is talking about it again. A. Number of farmers get killed on daily basis; unreported cases. No one is willing to go to farm due to fear of being killed.

Antiurchins:
The way dollar will jump 🦘🦘🦘 back to 2000 like a kangaroo will be brutal this time because what they have been doing is artificial depreciation of the dollar. Once the reserves they used in servicing the forex finishes, it will go back to high. It's not the first time, Buhari did the same thing. That's the reason Nigerian foreign reserves went down recently. If the naira is naturally appreciating against the dollar, it will instantly reflect on the prices of Products in the country

The dollar will be less than 1000 for years to come!

No reasonable point..just repetition of words n jargons.
If it's Science now, it will be short and on point.
Dis ppl just like speaking English tahh

SpecialAdviser:
How can it come down when diesel is still sold at N1500 per liter. Abi no be lorry dey convey goods? How can it come down when everywhere is insecurity? Abi farmers are now free to go to their farms?

Only fuulish people that are falling for agbado propaganda? APC gathered jobless youths in one computer location and started paying them to create multiple social media accounts to spread propaganda and decieve the gullible.

They should continue, if dolar goes up again, the prices of good will go further up. That may be the elastic limit for even their agbado supporters. Na watch we dey watch

It is no longer because of dollars, it is now because of diesel.

By the way, where are you buying diesel for 1500 ? You must be loving on the past.

Price of cables are coming down but my fear now is that it might increase again as Naira is falling against dollar

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DenreleDave:
Ẹ don even tìrẹ person
E affect agbalumo, affect mango, affect poison sef

Dobodobo04:
Gov should open border and allow importers bring in food.

Food is expensive because our farmers aren’t producing enough. You have to address issues of insecurity, storage, diesel prices, roads, etc but they will start bearing fruits in the medium to long term.

In the interim, customs should allow food to come in to bridge production gap.

Gov should stop going to shops and tell them what prices to sell. Once goods are plentiful, they would be forced to lower prices.

Only time gov can intervene is if market sellers are colluding to fix prices. If yam sellers are meeting underground to fix prices for example, gov can charge them to court with evidence.

The borders are open.
Stop exhibiting your ignorance openly and publicly.

Trustme2:
Ok. Before na dollar. Now na wetin? Nigeria's situation defies any global economic assumption. Which way naija

Cost of transportation and insecurity

Antiurchins:
The way dollar will jump 🦘🦘🦘 back to 2000 like a kangaroo will be brutal this time because what they have been doing is artificial depreciation of the dollar. Once the reserves they used in servicing the forex finishes, it will go back to high. It's not the first time, Buhari did the same thing. That's the reason Nigerian foreign reserves went down recently. If the naira is naturally appreciating against the dollar, it will instantly reflect on the prices of Products in the country

Mumu stop lying to your fellow gullible partners. The reserve was 34 and now it's 32. Plus another 600 Million was just added. So in essence, the reserve went down by less 1.5 Billion.
That money was used to settle debt which is one of the reasons why countries have reserves in the first place.
Stop posting rubbish lies because your Agulu packaged fraud candidate lost an election.

GREED.💯💯💯💯💯.. Forget the epistle

Trustme2:
Ok. Before na dollar. Now na wetin? Nigeria's situation defies any global economic assumption. Which way naija

Four different experts just explained this thing and you are still asking this question.

Antiurchins:
The way dollar will jump 🦘🦘🦘 back to 2000 like a kangaroo will be brutal this time because what they have been doing is artificial depreciation of the dollar. Once the reserves they used in servicing the forex finishes, it will go back to high. It's not the first time, Buhari did the same thing. That's the reason Nigerian foreign reserves went down recently. If the naira is naturally appreciating against the dollar, it will instantly reflect on the prices of Products in the country

They've explained and explained this thing to you people but you refuse to understand. Is it desperation or what is the issue??

The reseerves dropped because the fx backlog was cleared. How hard is that to understand??

All this markers are quick to blame the price of dollar but now that the dollar is going down what do they have to say old stock right. This country is not working simple

Nah the unborn children I they pity for for me and my family we're ready for anything

easzypeaszy:
No reasonable point..just repetition of words n jargons.
If it's Science now, it will be short and on point.
Dis ppl just like speaking English tahh

Agree with you. The situation in the country has created bedroom experts and analysts. Even the barely educated on Nairaland are pontificating.

Antiurchins:
The way dollar will jump 🦘🦘🦘 back to 2000 like a kangaroo will be brutal this time because what they have been doing is artificial depreciation of the dollar. Once the reserves they used in servicing the forex finishes, it will go back to high. It's not the first time, Buhari did the same thing. That's the reason Nigerian foreign reserves went down recently. If the naira is naturally appreciating against the dollar, it will instantly reflect on the prices of Products in the country

You are a good economist

APC has something in common with their leadership: Trial & Error & Mendacity!

Buhari/Emefiele: "You're printing naira" From Godwin Obaseke. Of course: fg, Buhari & Emefiele denied it. It turned out to be true! Result: Hyper inflation...

Tinubu/Cardoso: Oya, float the exchange rate.... No, fix/peg it, threaten bdcs....

Tinubu/Cardoso: "You hv depleted our USD Reserve in order to suppress the actual exchange rate & their value. " Again Cardoso is almost every TV station denying it...

Nigerians: Brace Up. Make una get shock absorber! Don't trust apc

SpecialAdviser:
How can it come down when diesel is still sold at N1500 per liter. Abi no be lorry dey convey goods? How can it come down when everywhere is insecurity? Abi farmers are now free to go to their farms?

Only fuulish people that are falling for agbado propaganda? APC gathered jobless youths in one computer location and started paying them to create multiple social media accounts to spread propaganda and decieve the gullible.

They should continue, if dolar goes up again, the prices of good will go further up. That may be the elastic limit for even their agbado supporters. Na watch we dey watch

These factors has already been in place before naira depreciation.

Why is it now the major problem

SmartyPants:


They've explained and explained this thing to you people but you refuse to understand. Is it desperation or what is the issue??

The reseerves dropped because the fx backlog was cleared. How hard is that to understand??

You cannot change or convince people that are fixated due to their biases and sentiments. It makes no difference.

What baffles me however is what people hope to gain as the economic situation deteriorates. I tend to wonder what people hope to gain if the rate gets to N2000.

Something is definitely wrong with some Nigerians walahi.

Meanwhile,
See Full Details of How Governor Ododo Assisted Yahaya Bello in Escaping from the EFCC

https://www.youtube.com/watch?v=tdpStwWpf2o

pretydiva:
Their excuse is they still have old stocks to sell. But once they hear naira has depreciated, they immediately inflate their price not minding if it’s an old stock.

Na we Dey do ourselves for this country. We too get ojukoko eyes

You are still far from the point....

Antiurchins:
The way dollar will jump 🦘🦘🦘 back to 2000 like a kangaroo will be brutal this time because what they have been doing is artificial depreciation of the dollar. Once the reserves they used in servicing the forex finishes, it will go back to high. It's not the first time, Buhari did the same thing. That's the reason Nigerian foreign reserves went down recently. If the naira is naturally appreciating against the dollar, it will instantly reflect on the prices of Products in the country

See mumu dropout, why not find out total amount of dollars CBN as giving to the BDC operator, does the % look like what will finish our reserves .. olodo

When will it enter una coconut head, the backlogs (debt) cardoso cleared to entice foreign investors is what depletes the reserve

However, if Cbn is defending the naira, the parallel market price should be above the official rate with wide difference, but that not the situation so how is it same with what buhari did

Whatever emiefele & buhari did, was the official rate at any time above parallel market, was the difference these thin ... are you guys naturally dumb or what

jmoore:
If petrol was being sold for 617 naira per litre when 1 dollar was equal to 1,600 naira, then it should sell for 424 naira now that dollar is equal to 1,100 naira.

If NNPC doesn't reduce the price of petrol to 424 naira, then inflation will be on our faces.

When naira went to 1900 per dollar
Did price of fuel increase?

phransix2:
You don't need to explain anything. The Nigeria market is full of wicked people that thrives because nobody checkmates them.

The period Dollar was on the rise, items on their shelves that was bought when dollar was low they increased the prices right away.

uhmmm

Exchange rate has crossed 1200 USD

i tire

This wayo wey dem dey play ehn, dem dey mad!

https://www.nairablackmarket.com/page/Black-market-exchange%20rates

Why is this government always sounding so clueless so they want to tell Nigerians that they don't know why prices of commodities haven't come down?

Fuel price is high

Diesel price is high

Electricity is high

Then you expect that these will not directly affect the production and running cost of businesses?

Comon Tinubu you people should do better cos if it where to be in GEJ government by now you and your olofofos would be chanting occupy Nigeria everywhere.

An average Nigerian is a greedy bastard but they keep blaming the government

Sheriman:
Make exchange rate go back to N1900 to $1 then if things wouldn't come down

They just wasted money subsidizing be Naira against dollar. Wasted billions of dollar

Akwamkpuruamu:


Cost of transportation and insecurity

Before naira depreciation
was there security?
Una no dey transport goods?

caracas:

You clearly don’t understand business madam
So if you are in their shoes n you hear that dollar has appreciated you will immediately reduce the prices of your goods?Or you hear that dollar has appreciated n you leave the prices of your goods the way it is?
If your answer is yes then you really need to answer the simple question.
WHY ARE YOU IN BUSINESS?

You Nigerians are just greedy! SIMPLE.
And this is the most religious country in the world . , they keep blaming Tinubu and Buhari whereas they are the PROBLEM.
NIGERIANS IS THE PROBLEM OF NIGERIA FORGET ABOUT GOVERNMENT!!!!!!!

I dont know for other region ooo but here in Zamfara price of goods are dropping fast. Though the state govt took it to themselves to solve the issue of using dollar as a means of estorting from the people. As of yesterday a bag of rice is 52250 from 75-80k

Antiurchins:
The way dollar will jump 🦘🦘🦘 back to 2000 like a kangaroo will be brutal this time because what they have been doing is artificial depreciation of the dollar. Once the reserves they used in servicing the forex finishes, it will go back to high. It's not the first time, Buhari did the same thing. That's the reason Nigerian foreign reserves went down recently. If the naira is naturally appreciating against the dollar, it will instantly reflect on the prices of Products in the country

Emergency financial analyst. Werey