₦airaland Forum

It’s bad news on the economy and maybe “good news “ to those that have dollars .

However ,I’m skeptical about dollar value now because dangote refinery might lessen pressures on naira and also increase its value if there’s export of the refinery’s product .

kennyz247:
Na d 1$=1naira APC promised us be this?

Since Buhari failed on that one, his smart ebilokan installer updated the promise.

The President-elect said he would work with the Central Bank of Nigeria (CBN) to bring down the exchange rate to N200 in his first term.

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years,” Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

Can it be that an exchange rate of N1,611 to a dollar speaks well for our country’s economy compared to the N230 that Buhari complained about in 2015

Muhammadu Buhari, presidential candidate of the All Progressives Congress (APC), has promised to ensure that the naira would be equal to the dollar in value if voted into office.

NAN reports that Buhari said this on Monday during the south-east presidential rally of the party at Dan Anyiam Stadium, Owerri.

“It is sad that the value of the naira has dropped to more than N230 to one dollar. This does not speak well for the nation’s economy,” he said.

He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected.

https://www.thecable.ng/ill-make-naira-equal-dollar-says-buhari/amp

HydraFeeds:
It’s bad news on the economy and maybe “good news “ to those that have dollars .

However ,I’m skeptical about dollar value now because dangote refinery might lessen pressures on naira and also increase its value if there’s export of the refinery’s product .

Expect your Naira to hit 2,000 per Dollar before end of September.

If I were you, I will close my savings account use the balance buy USD now.
Your politicians are quickly converting their stolen Naira to USD that's why Naira will be on perpetual fall.

If you have 50million in your savings account or you did treasury bill with amount you are a fool.

Use the money buy dollar. Dig a hole in your house and keep it there. If it gets to 2000 per USD, you can offload.

They way you buy company shares is the way people buy dollars and keep, sell when it goes high. It is not a crime, it is called currency arbitrage in corporate finance and financial management.

The government can print dollar that is the only way to reduce the rate

Blitzerz:
On your mandate we shall....

E be like say u want make I plank u 2by2 for waist 🤣

paba:
E be like say u want make I plank u 2by2 for waist 🤣

🤣🤣🤣🤣

Tinubu and APC is a curse to Nigeria.

....naaa statistics we go chop

MEEVEET:
Tinubu laughable attempt at naira floatation killed the naira

The weaker the naira the higher the price of petrol

One of the few people on the front page with open criticize mind

eBOLA is all shades of DISASTERS 💯💯💯💯💯

Again? If Cardoso and his team including the president can't handle they job they should all please shift aside

MEEVEET:
Tinubu laughable attempt at naira floatation killed the naira

The weaker the naira the higher the price of petrol

But for how long will he continue to defend the naira if he did not float it? Do you think defending the naira with millions of dollars is sustainable in the long run? I just need an explanation on this. What do you think he should have done if he doesn't float the naira?

misransome:
To provide sufficient fuel is rocket science for these people. We expected it

Na hunger go finish ipob

My brother is working!

Yoruba will never die. Halleluyah!

You can never wake up to one positive news in Nigeria

jumper524:
Trust me if fuel price gets to 1700naira per litre, the naira would still slump against the dollar.
Avoiding subsidy is the only way out of our declining economic crisis.
but then someone or something doesn't want our economy to have a positive slope.

How is avoiding subsidy "the only way out of our declining economic crisis"?

Is subsidy responsible for the declining economic crisis?

badoh:
But for how long will he continue to defend the naira if he did not float it? Do you think defending the naira with millions of dollars is sustainable in the long run? I just need an explanation on this. What do you think he should have done if he doesn't float the naira?

That is a good take. Personally I am not worried about the current situation it is something I knew 15 years old. My biggest concern is what the next 10, 15 years hold for us a nation? I don't see anything changing because as it is the same set of croak scheming on how to perpetuate themselves and their cronies in power. As long as they tow that line they can do anything meaningful to fix Nigeria because fixing Nigeria means them and their cronies relinquishing power and coughing up all they have stolen.

I think the first step of any serious government in Nigeria is to strengthen anti corruption law and start cleaning the system by prosecuting those in the system before turning on those that have left power. The biggest problem we have is sabotage via corruption. If not for Dangote we wouldn't have known of the Malta cabal. Even now that we are aware the government is not serious in prosecution. Just imagine what is going on in other sector.

We really don't need to defend the naira but to strengthen the system and our naira will raise to its original value. From there the government can have a true understanding of the situation and come up with effective plan.

Naira will continue to fall apart against dollar. Nawaoooo . Things are really falling apart in Nigeria 🇳🇬

Boysking1:
Helinues hope you're enjoying your day wherever you are? Your pay master is doing thy Lords work. I pray he increases your salary.

That one has since changed moniker. He's no more helinues or left it to switched to another account for a while.
Those guys, helinues, Thiefobi1, seunmsg, casualobserver, aswani, MANNABBGRìLLS, yarimo. You see his characteristic comment, as his tongue now cleave to the roof of his mouth because of hypocrisy. Humanity lost in them and truthfulness far from their archive. The unprincipled fellows, with no iota of dignity in them.
APC met price of PMS at ₦87 but today they have taken it to ₦800 plus. Alas, I bought PMS yesterday ₦1,100 and black market at ₦1,400 days ago. I just pity average Nigerians and the poor in the society. How would they cope with this incessant hike of goods and services and some hailers would tell you Tinubu is the best thing to have happened to this country after bread and butter.

What is the hope of the common Nigerian?

badoh:
But for how long will he continue to defend the naira if he did not float it? Do you think defending the naira with millions of dollars is sustainable in the long run? I just need an explanation on this. What do you think he should have done if he doesn't float the naira?

Is he not defending the naira now?

Floating is not the problem

How he floated it is the problem

shortgun:
They are still teaching Peter Obi a lesson 😀

Jagaban has Conquered Aguluthief Obi and his blodas

dettolgel:
That is a good take. Personally I am not worried about the current situation it is something I knew 15 years old. My biggest concern is what the next 10, 15 years hold for us a nation? I don't see anything changing because as it is the same set of croak scheming on how to perpetuate themselves and their cronies in power. As long as they tow that line they can do anything meaningful to fix Nigeria because fixing Nigeria means them and their cronies relinquishing power and coughing up all they have stolen.

I think the first step of any serious government in Nigeria is to strengthen anti corruption law and start cleaning the system by prosecuting those in the system before turning on those that have left power. The biggest problem we have is sabotage via corruption. If not for Dangote we wouldn't have known of the Malta cabal. Even now that we are aware the government is not serious in prosecution. Just imagine what is going on in other sector.

We really don't need to defend the naira but to strengthen the system and our naira will raise to its original value. From there the government can have a true understanding of the situation and come up with effective plan.

Naira value will continue to go down spirally. Nigeria as a country is not producing anything, hence, our naira will have no value because we don't export something valuable but instead we import virtually everything. It's production that strengthen naira and not consumption. No consuming nation have strong monetary value. Their money is always worthless and valueless. Instead of our government to think in the direction of production, they are busy consuming and living in opulent and extravagantly spending all they are making as naira.
My concern is wastefulness of our naira to defend the economy against dollar. Cardoso and his crop of army with their kind of economy sense have failed the country. When we tell them that administering Nigeria is quite different from administering a state, they lambast us and call us different names. Today' our comments are making it reality that we are saying the truth and know better than them.
Anyone talking about or critical about the government are always seen as the enemy of the government while a reasonable government take criticism as a launching pad to govern but our own government see criticism as offence.
God please help the downtrodden and average Nigerians because this economy is biting.

Notfogotten:
Expect your Naira to hit 2,000 per Dollar before end of September.

If I were you, I will close my savings account use the balance buy USD now.
Your politicians are quickly converting their stolen Naira to USD that's why Naira will be on perpetual fall.

If you have 50million in your savings account or you did treasury bill with amount you are a fool.

Use the money buy dollar. Dig a hole in your house and keep it there. If it gets to 2000 per USD, you can offload.

They way you buy company shares is the way people buy dollars and keep, sell when it goes high. It is not a crime, it is called currency arbitrage in corporate finance and financial management.

I'm against T bills because inflation and naira slumps might have eroded the profit made .

T bills is only profitable if we have stable currency .

LagosPrince:
Your president is clueless so don't expect miracle

Not just clueless, he is so dull only smart at looting

The govt should peg the naira at 1 dollars to 300naira now...or highest in 6 months time when we have sustained supply of crude to dangote refinery

helinues:
Toh

even helinues don finally weak.....e say na toh

jumper524:
Trust me if fuel price gets to 1700naira per litre, the naira would still slump against the dollar.
Avoiding subsidy is the only way out of our declining economic crisis.
but then someone or something doesn't want our economy to have a positive slope.

U are absolutely stupid

APOPTOSIS:
....naaa statistics we go chop

Good morning Sir

IfnobeGod20:
That one has since changed moniker. He's no more helinues or left it to switched to another account for a while.
Those guys, helinues, Thiefobi1, seunmsg, casualobserver, aswani, MANNABBGRìLLS, yarimo. You see his characteristic comment, as his tongue now cleave to the roof of his mouth because of hypocrisy. Humanity lost in them and truthfulness far from their archive. The unprincipled fellows, with no iota of dignity in them.
APC met price of PMS at ₦87 but today they have taken it to ₦800 plus. Alas, I bought PMS yesterday ₦1,100 and black market at ₦1,400 days ago. I just pity average Nigerians and the poor in the society. How would they cope with this incessant hike of goods and services and some hailers would tell you Tinubu is the best thing to have happened to this country after bread and butter.

What exactly are you accusing the people, whose monikers you mentioned, of?

I have never said President Tinubu was the best anything, I only fact check Obidients, who despite two court cases and over a year after their oga came a distant third at the elections, still wouldn't let anybody breathe on social media.

The only people that have an aversion to truth are Obidients, they are also extremely bitter and the sooner they change their ways, the better.

treesun:
https://dailypost.ng/2024/09/03/naira-slumps-against-dollar-amid-fuel-price-hike/

drugs.Avoid anybody that takes drug.we have learnt