₦airaland Forum

vaxx:
Not when you have the evidence in your laps. It sounds so irritating and f.oolish

Keep training your children with this type of brain, none concern me, I no be part of una family

Nairaland is now an evidence, a potent one at that, abi?

That brain of yours need complete biopsy.

theenchanter:
Nairaland is now an evidence, a potent one at that, abi?

That brain of yours need complete biopsy.

I say make you continue to dey train your children with such brain , nothing concern me .


Have you been to the page to fact check if the post doesn't come up with evidence

theenchanter:
so with all these, and after so many years of your currency redenomination, why hasn't your economy or gdp topped?

redenomination doesn't add value to currency or GDP. It is the improvement in your macro and micro economy indexes that does that .

Anyway Ghana GDP has improved though not impressive but better than the previous

vaxx:
redenomination doesn't add value to currency or GDP. It is the improvement in your macro and micro economy indexes that does that

Anyway Ghana GDP has improved though not impressive but better than the previous

so, why did u say this?🤷🏾‍♂️

vaxx:
Economy are quantify in dollar terms. For Nigeria to regain her position back as Africa largest economy, she must work on her currency, it falls just way below the normal or average curve.


In reality, Nigerians are not doing well economically, except you are earning in dollars An average Nigeria has become more poreer.

theenchanter:
so, why did u say this?🤷🏾‍♂️

which brain you get.😂 Wetin you know understand

vaxx:
which brain you get.😂 Wetin you know understand

the things u sprout out of ur brain doesn't makes sense. U sef see am ba?😂

theenchanter:
the things u sprout out of ur brain doesn't makes sense. U sef see am ba?😂

A typical brain wey you dey take care of your children be this. This one off me I swear


Again , what is it that is written there that you don't understand.

Even if your currency is redenominated to 1 naira to 1 dollar, your economy fundamentals will exposed you.

And once the economy is compared to other major economy, the truth will be exposed. Works on your currency by stabilizing the fundamentals and improving them. not by f.oolishly thinking redenomination will save you .

vaxx:
Since you don't know or failed to know. The continue reason for naira falls is linked to shortage of dollars and the declining rate of foreign reserve. There is not enough dollar with CBN to cushion the effect of dollar on the naira in the major market. And they are even more to it. But make I just stop there.


Now you know . Naira is not just fallen as a control measure , it is fallen due to above mentioned crisis . More Nigerian has become more poorer

Keep quiet. Naira fell to 1,600 naira now because of shortage of dollars, to you, right?

Maybe you were living in space when Nigeria devalued her currency for economic reasons.

Oga, Nigeria's foreign reserve is about $40b and they have cleared all fx foreign backlogs of $7b. Boasting investors confidence to trooping into the country.

Besides, there's no shortage of dollars in Nigeria. The problem is this people has dollarized the economy. In addition to speculators working hard to destroy the naira for economical gains.

Dollar rate in Nigeria is man made.

Nevertheless, we can't ignore the fact that this current administration is working hard to bring lasting economic reforms for lasting stability.

forgiveness:
Keep quiet. Naira fell to 1,600 naira now because of shortage of dollars, to you, right?

Maybe you were living in space when Nigeria devalued her currency for economic reasons.

Oga, Nigeria's foreign reserve is about $40b and they have cleared all fx foreign backlogs of $7b. Boasting investors confidence to trooping into the country.

Besides, there's no shortage of dollars in Nigeria. The problem is this people has dollarized the economy. In addition to speculators working hard to destroy the naira for economical gains.

Dollar rate in Nigeria is man made.

Nevertheless, we can't ignore the fact that this current administration is working hard to bring lasting economic reforms for lasting stability.

forgiveness please read biko.



https://www.bloomberg.com/news/articles/2024-02-29/why-nigeria-s-naira-currency-has-plunged-and-dollars-are-scarce-ngn-usd

Forgiveness

Read biko... Don't argue like a beer parlor customer



https://punchng.com/cbn-blames-debt-servicing-as-fx-reserves-drop-2bn/

vaxx:
forgiveness please read biko.



https://www.bloomberg.com/news/articles/2024-02-29/why-nigeria-s-naira-currency-has-plunged-and-dollars-are-scarce-ngn-usd

What an ignoramus! Where is it reported there naira depreciated because of shortage of Dollars?

Highlight it and shame me.

vaxx:
Forgiveness

Read biko... Don't argue like a beer parlor customer



https://punchng.com/cbn-blames-debt-servicing-as-fx-reserves-drop-2bn/

Blame dept servicing for foreign reserve depreciation not naira depreciation.

Your comprehension skill is too low.

forgiveness:
What an ignoramus! Where is it reported there naira depreciated because of shortage of Dollars?

Highlight it and shame me.

But I shamed you already with the reference.


😂

vaxx:
But I shamed you already with the reference.


😂

You sound slow.

Nothing in that reference stated that naira is depreciating because of shortage of dollars.

Your comprehension skill is too low.

I will keep saying it, no sane man would support this current crop of leaders that are leading Nigeria. Nairaland should keep removing my post and banning me. Just as Nigerian government will arrest and jail anyone who talks about their evils. Human lives has no meaning in this Godforsaken country, yet most of you guys come here to defend those who keep killing and keeping you in poverty.

Jamestown123:
I will keep saying it, no sane man would support this current crop of leaders that are leading Nigeria. Nairaland should keep removing my post and banning me. Just as Nigerian government will arrest and jail anyone who talks about their evils. Human lives has no meaning in this Godforsaken country, yet most of you guys come here to defend those who keep killing and keeping you in poverty.

What ideas do you have for your preferred leader come 2027?

GeneralDae:
What ideas do you have for your preferred leader come 2027?

The question should be, if we are safe and secured enough to see 2027? As for me, I can't die, God knows that.

Jamestown123:
The question should be, if we are safe and secured enough to see 2027? As for me, I can't die, God knows that.

How? I’m confused.

Nigerian FX Liquidity has improved compared to the struggle in 2023. This is for Q1 2025.
The only real threat now is Trump’s tariff which has slowed down buyers of oil from the likes of Nigeria and Angola and has reduced oil prices.

Fact does not care about your emotions , even if you are gullible ...


This is the fact , money no dey inside 9ja pulse hence the falls of the naira .. stop arguing with emotions.

Shamseldeen Ogunjimi, accountant-general of the federation (AcGF), says the nation’s excess crude account (ECA) balance is $473,754.57 as of April from 72 million dollars

vaxx:
Fact does that care about your emotions , even if you are gullible ...


This is the fact , money no inside 9ja pulse hence the falls of the naira .. stop arguing with emotions.

Shamseldeen Ogunjimi, accountant-general of the federation (AcGF), says the nation’s excess crude account (ECA) balance is $473,754.57 as of April from 72 million dollars

What is Excess crude account? Do you know what it means? Besides, Nigeria has stopped maintaining excess crude account for long (almost a decade now) because it’s irrelevant since crude oil production has been below all budget targets since 2014, so it’s not a new phenomenon. NSIA is the focus and they had a whopping growth in 2024.

I shouldn’t be doing this with you but…

GeneralDae:
What is Excess crude account? Do you know what it means? Besides, Nigeria has stopped maintaining excess crude account for long (almost a decade now) because it’s irrelevant since crude oil production has been below all budget targets since 2014, so it’s not a new phenomenon. NSIA is the focus and they had a whopping growth in 2024.

I shouldn’t be doing this with you but…

The olodo rabata doesn't know that that account is illegal and no longer functioning because the Supreme court of Nigeria has ruled against it.

GeneralDae:
What is Excess crude account? Do you know what it means? Besides, Nigeria has stopped maintaining excess crude account for long (almost a decade now) because it’s irrelevant since crude oil production has been below all budget targets since 2014, so it’s not a new phenomenon. NSIA is the focus and they had a whopping growth in 2024.

I shouldn’t be doing this with you but…

no dey answer this one jare. Let him continue to fool himself thinking he's hitting a point.

GeneralDae:
What is Excess crude account? Do you know what it means? Besides, Nigeria has stopped maintaining excess crude account for long (almost a decade now) because it’s irrelevant since crude oil production has been below all budget targets since 2014, so it’s not a new phenomenon. NSIA is the focus and they had a whopping growth in 2024.

I shouldn’t be doing this with you but…

Cus your emotions will not let you go.


You are asking me who homeschool you that you can actually fall into recession even if your economy grow if I know what is excess crude account?

Anyway Nigeria is not the only country that maintain such account , nearly every country has such sovereign wealth to maintain stability in case of any future happenings.


Now that the naira is fallen , the excess account would have help to mitigate the effect a bit but it is less than 500k

Guzape, Abuja



https://www.youtube.com/watch?v=goomPdTlEmc?si=i1SlT8jyHHIoY8Sx

forgiveness:
The olodo rabata doesn't know that that account is illegal and no longer functioning because the Supreme court of Nigeria has ruled against it.

na you be the olodo wey no sabi read . You go still f.oolishly ask me to quote it verbal to verbal where it was written. Anyway the ruling was about transparency and not actual withdrawal.