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Nairaland Forum / Nairaland / General / Politics / PH Refinery Failure: Dollar To Appreciate Against The Naira (1417 Views)
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PH Refinery Failure: Dollar To Appreciate Against The Naira by godwinngbede: 3:44pm On Apr 20 |
The Nigerian naira has been experiencing a decline in value against the US dollar in recent years, but the situation may worsen as the country's long-awaited PH oil refinery project fails to start. The development of the largest oil refinery in Nigeria, has been plagued by delays and setbacks, raising concerns about the country's ability to boost its oil production and revenue. The failure of the refinery to start operations as planned could have severe repercussions on the Nigerian economy, particularly on the exchange rate of the naira against the dollar. With Nigeria heavily reliant on oil exports for revenue, the country's inability to ramp up its oil production could lead to a decrease in foreign exchange earnings, further weakening the naira. As a result, experts predict that the dollar will appreciate against the naira in the coming months, making imports more expensive for Nigerian consumers and businesses. This could lead to inflation and a decrease in purchasing power, negatively impacting the country's economy. The government must urgently address the issues surrounding the oil refinery project and take proactive measures to stabilize the exchange rate and strengthen the naira. Failure to do so could have devastating consequences for the Nigerian economy and its citizens. |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by James39: 3:46pm On Apr 20 |
Hmmn.... |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by immortalcrown(m): 3:53pm On Apr 20 |
APC online thugs, over to you. Any Nigerian that wishes for Naira to be 5000 per Dollar is evil, likewise any Nigerian that praises APC when Naira is not below 260 per Dollar. 4 Likes |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by Afamed: 4:00pm On Apr 20 |
$ slaves Una don start again? |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by Wainey: 4:07pm On Apr 20 |
immortalcrown:APC can't bring the naira to where u want it to be, the country is floating the naira now so market forces will determine how the naira should be. Infact, it doesn't make sense to look at exchange rate anymore cos we now float the naira |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by KelGraphicz(m): 4:26pm On Apr 20 |
Oga go sleep if you don't want to be in Nigeria travel and go to any country of your choice make we hear word 4 Likes |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by Brenbentondiaz: 6:55pm On Apr 20 |
In your developer mind ba? Anything beyond petty buying and selling is beyond you degenerates' scope. |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by vanbonattel: 7:40pm On Apr 20 |
I think agbado munchers told us they will use wayo and jibiti to force the naira to 216 to $ ? Where are they now? 2 Likes |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by masseratti: 8:35pm On Apr 20 |
Why are people just praying for the country to get worse..e no dey affect una?we be told all of you guys both APC PDP and LP are the same ..just pray God enters the mind of anyone in charge to do the right thing and make the country better ..all this wishing the economy and security to be bad is actually very disturbing. 1 Like 1 Share |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by vanbonattel: 8:37pm On Apr 20 |
masseratti: Do you think God can enter the mind of a criminal to do a good thing for you after spending so much to get there? That's how you people are always deceived with fake promises. 3 Likes |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by masseratti: 9:57am On Apr 21 |
vanbonattel:all of them are the same even Jesus Christ prayed for a criminal on the cross ,so yes God can enter their mind to do the right thing. |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by vanbonattel: 10:01am On Apr 21 |
masseratti: Glad you used that analogy, to apply same thing to Nigeria, the person you call your leader today should be tied up on the stakes and seeking forgiveness from God. 2 Likes |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by allthingsgood: 11:14am On Apr 21 |
godwinngbede: This post is sponsored by dollar speculators. Simple. |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by allthingsgood: 11:19am On Apr 21 |
vanbonattel: Pray for your country. Leave Tinubu matter. |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by allthingsgood: 11:20am On Apr 21 |
vanbonattel: You are you holy |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by masseratti: 12:56pm On Apr 21 |
vanbonattel:Whoever is Nigerian President is all Nigerian leader..you like it or not unless you not a Nigerian..but you free to put him on the stakes . |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by Melagros(m): 3:14pm On Apr 21 |
COMRADES, shame on you apc for your failures in all ramifications |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by DMerciful(m): 4:54pm On Apr 21 |
Who is floating the naira? Not APC govt? Did the national assembly vote to float the naira? Why say the country? Wainey: |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by DMerciful(m): 4:55pm On Apr 21 |
You believe the country is getting worse because of prayers? Common! masseratti: |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by Wainey: 5:44pm On Apr 21 |
DMerciful:if u understand what it means to float a currency, u won't say what u just said. There is immense benefits in floating a currency |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by DMerciful(m): 6:13pm On Apr 21 |
So own it that you guys floated the naira Wainey: |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by Wainey: 6:30pm On Apr 21 |
DMerciful:Pegged currencies 1.Barhain 2. Cuba 3. Belize 4. UAE etc free floating currency USA China Australia Canada Etc. This should just give u an overall view of how free floating economy is, I don't have much time explaining the benefits for now, I am busy |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by DMerciful(m): 6:37pm On Apr 21 |
The problem with you guys is copying and pasting without understanding the principles. All currencies must be defended by something in other to maintain value. In the case of the US, China...their massive production output defends their currency. Nigeria does not produce so floating the naira means killing the naira. The Ng govt must defend the naira and simultaneously move from consumption to production so that production takes over the defense of the naira. No wonder Obi wants to move the country from consumption to production Wainey: |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by masseratti: 7:18pm On Apr 21 |
DMerciful:if you can understand grammar very well you know that I didn't say " believe"I asked a question ..I said why..so in that way ..am seeing people being happy things are getting worse and am asking questions that why are they happy.. definitely most of them are not even residing in Nigeria. |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by Wainey: 7:40pm On Apr 21 |
DMerciful:https://www.nairaland.com/8067391/floating-naira-what-it-means this is where I explained it floating and fixing currency, read it and understand |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by DMerciful(m): 8:15pm On Apr 21 |
Whether a country gets better or worse depends on the people running the govt and not the mood of unlookers. Put culpability where it belongs! masseratti: |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by masseratti: 9:49am On Apr 22 |
DMerciful:oga free me abeg .I don't do back and forth with blocked mindset people.u are henceforth ignored.. mention me again and no reply from me ..av a good day . |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by DMerciful(m): 1:41pm On Apr 22 |
You have no point but refused to learn. Have a good day masseratti: |
Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by godwinngbede: 3:00pm On Apr 22 |
Black market rates today
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Re: PH Refinery Failure: Dollar To Appreciate Against The Naira by masseratti: 4:07pm On Apr 22 |
DMerciful:how i wan take learn drom a block head ....veey funny people online..no quote me again na by force ? |
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