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Nairaland Forum / Nairaland / General / Business / Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ (20223 Views)
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Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by karkinase(m): 11:04am On Apr 26 |
Naira dun finally turn coin.. swinging up and down like an old woman’s breast.. 🤦♂️ 2 Likes |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by vuc1(m): 11:05am On Apr 26 |
Governance isn't an easy task. Before you criticise anything you don't understand think first. My advice to this Government is to always look critically to their policies before implementing. Think of the negative effect on Nigerians first some positives are not really worth it on the long run. E dey easy to talk and criticise but to work and build no dey easy o. I remember the campaign strategy in 2015, the government is yours now.Are you doing things differently? How are Nigerians faring? Naira floating and subsidy may not be reversed and even if it is done, it won't change anything. Fixing the effect of your hasty decisions should be your priority.We don't need new projects for now we need what we already have to work properly. Until we learn to maintain what we have on ground building new ones will not work, it will always collapse like the old ones. We don't need new roads, airports, palliative, ₦5k - ₦50k grant and loans, stadiums, refinery and the rest. We need to work on the ones we have and develop them and put strategies to ensure they are sustainable. Please do all you can to bring down cost of petroleum products and as for the dollar and economy when Nigeria works the economy and dollar will behave. [i][/i] Please note: This is not to criticize or condemn the government but to encourage and support. I no wan wahala o. 2 Likes |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Confirm4real(m): 11:06am On Apr 26 |
Nigerians should expect things to be more expensive then Tinubu still dey find investors up and down |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Ahmeduana(m): 11:06am On Apr 26 |
So, is no longer the crypto that is causing it? |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Namaster: 11:07am On Apr 26 |
emerged01: Dangote is singlehandedly bleeping Nigeria. And the government is suppling the lubes so the pressure is going NOWHERE. He's IMPORTING majority of his crude oil and paying in DOLLARS. Plus Dangote took HUGE dollar loans to finance his refinery. After the completion, he convinced the government to sell some crude oil to him in NAIRA. He's selling diesel and other products in Naira to Nigeria. But his Naira wlll NOT remain Naira for long. Dangote will convert them to dollars to SERVICE the loans he took to finance the refinery project. In the meantime, Nigeria still has to import MORE petroleum products. Add to that, the departure of pharmaceutical companies from Nigeria forcing Nigeria to import common drugs and you have a FOREX NIGHTMARE. 6 Likes 1 Share |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by tefund(m): 11:11am On Apr 26 |
nedekid:which bank card? |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Sermwell(m): 11:18am On Apr 26 |
Honestey:It's a shame you don't know the real enemies of this country!! Tueh!!! 2 Likes |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by IAmHim1: 11:19am On Apr 26 |
This makes sense: increase in supply backed by reduction IN DEMAND makes price crash First we have to reduce the demand for the dollar 1) All the avenues in which earned dollar leaves the country should be mitigated or blocked completey 2) Increase the demand of the naira not just in Nigeria BUT in the International community BY selling crude oil in Naira. I strongly believe that oil producing countries can sell in their country currency. The dollar is strongly valued because crude oil is sold in dollar and ALL COUNTRIES NEED CRUDE OIL. so you see the Big Picture now Thewrath: |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by karkinase(m): 11:21am On Apr 26 |
CBN just dashing people free money.. you are intervening, you also need to mop up your exports, build industries, improve power all simultaneously else every effort is just zero ⭕️ |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by emerged01(m): 11:24am On Apr 26 |
Namaster:Hmmm,double problem. |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Goke7: 11:24am On Apr 26 |
For those who held their dollars close this is the time to sell o before your joy turn into sorrow again. Enough said |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by pquaver(m): 11:27am On Apr 26 |
post=129642419: I might be wrong but maybe it intentional as incentive for diaspora remittance end of month after the inflow the will resume again.. This na end of month many diaspora are getting ready for salary.. |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by theredaddy: 11:27am On Apr 26 |
CheapHomes1: I am not dumb to expect a Rome in a day |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by dreamxhaser: 11:30am On Apr 26 |
LadyRosa: I dey favour me. So let it rise jor As e reduce nothing favour me Been a patriotic ended in 2023 (for me). I dont care if the country collapse now. Na to save funds JAPA |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by rolams(m): 11:35am On Apr 26 |
As an economist, I know this will happen. |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by dauntless15(m): 11:36am On Apr 26 |
bigiyaro:Look how ridiculous you sound one individual is powerful enough to singlehandedly manipulate your currency from another nation, what does that tell you about you and your currency? You'd rather blame something than fix your problems cuz blaming is easier for incompetent people, excuses upon excuses, it's alway someone's fault, Bunch of clueless and paranoid people blinded by ethnic bigotry and blind loyalty which deprives you of the ability to be logical when reasoning, that is if you even reason at all. |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by PaNnamdi: 11:38am On Apr 26 |
NOwazobia:Illiterate that can't even pass a jamb economics exam explain how cryptocurrencies make the naira to depreciate |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by CheapHomes1: 11:39am On Apr 26 |
theredaddy: I dont remember asking you if you what you expect or dont expect. my question goes thus: you are one of those that voted for tinubu. that is great. pls tell us how well he has achieved what you say you voted him for? |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by RickyJesus: 11:40am On Apr 26 |
Thewrath:Global interest why cards don't work internationally not Nigerian government. |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by dreamxhaser: 11:45am On Apr 26 |
SunMusk: If you earn in dollar or run a business that will pay you in dollar. E go benefit you die (thats if you are wise). Let me give you an example. I am a freelance writer and i plan on taking as much jobs as i can, then pay my editors in naira. Lol double gains for me. Even if dollar reach 2k, the 1k naira per 1k words i pay will not change, but my earnings will increase and i can take more jobs and employ more work force. If i used to make 500 usd before, i can now double it to 1k usd. Dey play In summary i have cheap labour. 1 Like |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Thewrath(m): 11:46am On Apr 26 |
nedekid:Which bank? |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by rayvelez(m): 11:50am On Apr 26 |
Increased demand or yahaya Bello caused it |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Anonimoux: 11:51am On Apr 26 |
Those of you expecting this fire brigade economics to bring down the rate of the dollar to ₦500 - ₦700 are either high on goat urine or cattle feces. I'm grateful to Peter Obi and Yusuf Datti Baba-Ahmed whose economic intelligence and statistical analysis compelled me to do an in-depth study of economics especially macro-economics. If not I would have been daft like many others who were rejoicing that dollar was coming down. Mshewwww |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by grandstar(m): 11:51am On Apr 26 |
Namaster: A lot of what you said is accurate. The government can reduce pressure on the Naira if it simply spoke truth about the fuel subsidy and deregulate the price. 2 Likes |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Elonmuzk(m): 11:52am On Apr 26 |
We said it, but they wouldn't believe us. It's not a rocket science, economics is practical 😂😂😂 |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Anonimoux: 11:53am On Apr 26 |
Honestey:This has nothing to do with enemies of anybody. This is simple economic problems that requires practical and workable solutions if the right things are done. Nigerians and emotional sentiments msheewww 1 Like |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by IAmHim1: 11:53am On Apr 26 |
This seems like a dilemma but the solution to this is quite simple Dangote would have to start selling THE REFINED CRUDE to the international community and not just only in Nigeria so that he can bring forex to the country And if you observe, I said THE REFINED CRUDE and not just the crude itself because if you look at it, crude oil refined gives petrol, diesel and jet fuel. So selling the petrol and diesel and jet fuel separately brings Is more forex compared to just selling the crude oil itself And guess what Nigeria crude oil is in DEMAND so we can sell it to the international markets and bring in forex for Dangote to service his loans! And about the pharmaceutical companies leaving Nigeria, I wish I knew how to bring them back to stay! Namaster: |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Anonimoux: 11:55am On Apr 26 |
Henix:it's visible to the blind and audible to the deaf. |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by ruffhandu: 11:56am On Apr 26 |
So where did I read tjat BDCs were buying dolar for N980, that dolar was prrforming better than expected. 1 Like |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Anonimoux: 11:58am On Apr 26 |
CrossRhodes:Haswear very dull. This has proven that most average Nigerians don't read and instead of shutting up and quietly seek for knowledge they would be making noise and displaying their crass ignorance online. I despise ignorant, indolent and stewpid people who aren't willing to learn. 1 Like |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Anonimoux: 11:59am On Apr 26 |
Blaze14k:honestly it's so pathetic. 1 Like |
Re: Increased Demand For Dollar Causes Naira To Depreciate To 1,420/$ by Mistermamus(m): 12:00pm On Apr 26 |
Na politicians join dey causes this thing 1 Like |
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