₦airaland Forum

ArcSEMPECJ:
Exactly....he is here defending failure...

40 words that your mods gift me emergency ban for saying the truth

Because it is a deliberate government policy
No government completely leaves his currency at the mercy of market forces even this government
What they have confessed doing is managed flotation
Which their dumb supporters erroneously believe to be complete flotation
The government depending on their revenue drive set the price

The naira is not depreciating technically speaking. It's currently appreciating. This is because, the US dollar index is currently dropping massively,which is causing the naira to appreciate. From 1600, the naira appreciated to 1565 per dollar black market.

Fact check.

Aagbo to fehinrin, agbara lo lo mu wa...
The Ram that reverseth, is seeking re-bounce power...
Naira is aiming for N1=$1, considering the recoil velocity to achieve this momentum, Naira will have to reverse back to N5000/$1

Aify147:
Let it even get to 3k to a dollar. I earn in dollars, wetin consain me

I also earn in dollar. But trust me, a healthy naira will make our lives a lot easier and merrier.

casualobserver:
N1549.02 to 1549.26 is what they are making into a headline?

The first four digits is enough to rile any soul considering where we where when we chose to try out the calamitous APC
As the pic from the poster above shows, 216 was once viewed as an abnormality. How much more 1549

DeLaRue:
That goes to show most of the things you read in the Nigeria media are sponsored for political reasons.

Terrible people.

Why did nairaland moderators move this totally deceptive thread to front page

A currency barely changes, and you report it as losing value.

In reality, Naira has been one of the most stable currencies in Africa this year.

You can't build a successful country when virtually everyone is intent on undermining anything good.

The people who were ready to undermine everything good are those who protested against subsidy removal in 2012 when the economy was in much better shape only to praise themselves for subsidy removal in 2023 when the economy had become comatose
The biggest saboteurs are those who only see good when their preferred politician is at the helm

PlasmaTV:
Lol
How old are you exactly?

Forgot I'm on Nairaland. Sorry bro. Go and read for your junior WAEC

If you tell him we traded $100 for 14500 he won’t still believe..

Dzzzz:
If you tell him we traded $100 for 14500 he won’t still believe..

Na pikin, chief. Don't mind him.
Seun should let people be uploading their ID cards before registration.

beardedboy:
I also earn in dollar. But trust me, a healthy naira will make our lives a lot easier and merrier.

Yes, it will.
Our country is majorly driven by dollars/importation.

The higher the exchange rate, the higher the cost of living.

Kukutente23:
The first four digits is enough to rile any soul considering where we where when we chose to try out the calamitous APC
As the pic from the poster above shows, 216 was once viewed as an abnormality. How much more 1549

What a da ft comment. Of what relevance is this to the headline?

treesun:
https://dailypost.ng/2025/06/26/naira-continues-depreciation-against-dollar-at-official-forex-market/

Two years after hitting the ground running and 10 years after packaging Buhari as APC change messiah, what do we have apart from worse poverty, inflation, unemployment, underemployment, corruption and insecurity.

Or what has changed for better since ebilokan replaced the best president, Jonathan with a clueless northerner who showed us shege, which his successor has taken to the extra level.

These APC guys told us that N200/$1 was bad, not so

Emergingnation:
Flashback: How Bola Tinubu spoke highly of Buhari in 2015, named PDP ‘Poverty Development Party

National leader of the ruling All Progressives Congress, APC, Bola Tinubu had during the presidential campaign in 2015, referred to President Muhammadu Buhari as the only solution for the security and economic challenges facing Nigeria.

During a mega presidential rally, the former governor of Lagos State recalled how some powerful nations in the world returned to army generals when they were challenged, saying “Major General Buhari would revive Nigeria’s economy”.

He named the current opposition People’s Democratic Party, PDP as the “Poverty Development Party saying they had nothing to offer.

His words at the time were; “Every nation has a period of their own challenges, when America was challenged, they turned to one great man, their ex-military general, General Eisenhower. When the French were challenged, they turned to their general, Charles de Gaulle.

“When Britain was challenged, they turned to their general. Today, Nigeria is economically and physically challenged so we turn to General Muhammadu Buhari. He is the right man for the job. If you talk about military experience, he has it abundantly, he has courage, simplicity, he has it abundantly.

“If you talk about great determination, a combination of vision and ability to perform, honesty and integrity, he has it abundantly.

“I laugh when the incapable government, ‘Poverty Development Party’ PDP were talking. They have nothing again to say, they now want to question the qualifications of General Buhari and look for his certificate”.

Following the manifestos in 2015 which projected the APC presidential candidate as a ‘saviour’, Buhari defeated the then incumbent president, Goodluck Ebele Jonathan with Nigerians expecting a total change in security and economy.

https://dailypost.ng/2021/09/01/flashback-how-bola-tinubu-spoke-highly-of-buhari-in-2015-named-pdp-poverty-development-party/

casualobserver:
What a da ft comment. Of what relevance is this to the headline?

Very relevant, as it highlights APC failure in this matter of exchange rate specifically.

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate

April 23, 2023

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

treesun:
https://dailypost.ng/2025/06/26/naira-continues-depreciation-against-dollar-at-official-forex-market/

Naira depression, depressed

Helinus should take note.

olax02:
Hellanus must have smoked cow dung. Seun mandatory 40 words na WA.

Cow dung can't give him that kind of high. It must be something more potent, like the stuff ebilokan was dealing with in Chicago before he bribed NADECO and Afenifere old men to displace Engr. Funso Williams and give him Lagos AD ticket in 1999.

swaggerjack:
Reno Omokri: I Challenge Tinubu To Prove If He Was Not A Drug Lord In Chicago


https://www.youtube.com/watch?v=NA7PoGtSvKo&feature=youtu.be

surgical:
Because it is a deliberate government policy
No government completely leaves his currency at the mercy of market forces even this government
What they have confessed doing is managed flotation
Which their dumb supporters erroneously believe to be complete flotation
The government depending on their revenue drive set the price

Very soon, I think the division we need in Nigeria is not by region or tribes but to separate SANE people From AWKWARD Thinking people ....
Because separation by region or tribes will still have those people disturbing and pulling the progress of each region down...

Lol. It has gotten so bad for OP and his Obid3nse co-travellers that a 22kobo drop is now newsworthy. Ironically, when the naira gained almost 100 naira over the dollar the last few weeks, OP didn’t find that newsworthy

i bet you by tomorrow or next you will see a news/post on legit.ng saying "No More blah blah Dollar to Naira" always claiming Naira is gaining

government of propaganda full of manipulations using yeye media houses

richmond500:
u convert 100$ to 20k in black market in Nigeria?
Guy lie small small na

Lol... u were still in secondary school in 2014 when $1 was N180.. that's why u won't believe...

PlasmaTV:
Buhari met it at $1/N220.
He left it at $1/N800.

Tinubu took it from N800 to N1,600.

Before APC, I used to convert $100 for roughly 20k.
After APC, $100 is now N160,000.
Make it make sense.

Have you thought about the impact this is having on the cost of goods? Importation?

You can't "out-propaganda" a failing and falling economy, bro.

You make it seem like exhcnage rates are determined by a wave of the hand.

if you want the Naira to gain stop importing everything, eat local rice (with the stones) and Naira will gain.

ribbit:
they need some bad news for bad news lovers association of Nigeria to romance to.

We all know that the ruling party are the bad news lovers.
They create Pains and suffering to Nigerians without mercy

/

What a news?!

Depreciation by 22 kobo is news when N50 can barely buy anything?

/

The naira is going to keep falling against the dollar because we don't run the kind of economy, and have never run the kind of economy that makes for a strong currency.

I mean, I have said it on this site for decades...ok for some time ...if you want a strong currency, your country has to have an economy based on exporting manufactured goods and services.

But most Nairalanders have this attitude that if we sell something, we got to share the money. We refuse to follow the parable of the talents....use our talents to make more talents. Instead we are even worse than the guy with one talent...we use our ten talents and get into debt for 50 talents buying imported stuff.

But at the end, most Nigerians want their side to take power. They don't want a running economy .

PlasmaTV:
Buhari met it at $1/N220.
He left it at $1/N800.

Tinubu took it from N800 to N1,600.

Before APC, I used to convert $100 for roughly 20k.
After APC, $100 is now N160,000.
Make it make sense.

Have you thought about the impact this is having on the cost of goods? Importation?

You can't "out-propaganda" a failing and falling economy, bro.

Yeah, and at one time one naira was one dollar. That means whoever came before Buhari must have been a failure like Buhari.

The problem with you and the guy you are responding to is that, no offence...both of you don't get it. The naira has been falling since 1973...and we have been using tons of forex to keep it from falling. The result is part of the huge debt that we have today. It costs money to keep the naira up.

I am not defending tinubu...and his float the naira was not something he wanted to do, but was due to the fact that there was no more dollars. Even Buhari...when he took over, the good old days of 2008-14 when a barrel of crude was at least 100 dollars per barrel most of the time was gone. He had to reduce the dollars he was spending to buffer the naira over time.

But as I said, I am not defending buhari or tinubu.

Every Nigerian leader , including tinubu, has spent billions of forex defending the naira, and what we have here is that our forex needs have also grown to a point where it was difficult to keep up the defence. In 1991, one dollar was eight naira...good eh? Well, we did not have gsm phones, laptops, tablets, most cars were still made in nigeria, the second hand ones were made in nigeria, and most tyres were made in nigeria. TOday, we import far more than we did in 1991, and it competes with the dollars we use....which is why the government can no longer give you N1 to N40 or something.

Yes, our government runs a bad economy, but the reason why is simple. The thing is, countries with strong economies (and don't mention Ghana because their currency hides a lot of bad things)....are countries which export manufactured goods and services. It is why the Swiss have a powerful currency, while we do not.

And that is why all of our leaders have run bad economies since the 1960. They run economies based on selling oil cocoa, cotton, etc tec...which prices we do not control. That leaves us with limited dollars to buffer our currency. When our forex needs were low, it was easy to pull off. When 1992 and the opening up of the global economy came around, that's when problems started.


I want us to vote out tinubu , but we need a government that would lead us to manufactured goods and services...otherwise, any good government of the kind you want is going to end up taking more loans to keep naira at N1 to N20 so that you can be happy, while we pile up debt for our kids. Like tinubu and buhari and gej and company did, until we could no longer sustain it by August 2022.

Karikashi:
But helinues said one naira is now equal to one dollar.

when
Fortycharacters minimum is not high iq mmm

SoftSport:
The way the naira keeps going up and down shows what many countries are facing right now.

Around the world, money is losing value in some places because of things like high prices, wars, and changes in interest rates.

It’s not just Nigeria, many countries are finding it hard to keep their money strong these days.

you need soft sense .so thats what tinubu told you

Karikashi:
But helinues said one naira is now equal to one dollar.

U dey mind that one...he's here to troll...ba sense in there

nairalanda1:
Yeah, and at one time one naira was one dollar. That means whoever came before Buhari must have been a failure like Buhari.

The problem with you and the guy you are responding to is that, no offence...both of you don't get it. The naira has been falling since 1973...and we have been using tons of forex to keep it from falling. The result is part of the huge debt that we have today. It costs money to keep the naira up.

I am not defending tinubu...and his float the naira was not something he wanted to do, but was due to the fact that there was no more dollars. Even Buhari...when he took over, the good old days of 2008-14 when a barrel of crude was at least 100 dollars per barrel most of the time was gone. He had to reduce the dollars he was spending to buffer the naira over time.

But as I said, I am not defending buhari or tinubu.

Every Nigerian leader , including tinubu, has spent billions of forex defending the naira, and what we have here is that our forex needs have also grown to a point where it was difficult to keep up the defence. In 1991, one dollar was eight naira...good eh? Well, we did not have gsm phones, laptops, tablets, most cars were still made in nigeria, the second hand ones were made in nigeria, and most tyres were made in nigeria. TOday, we import far more than we did in 1991, and it competes with the dollars we use....which is why the government can no longer give you N1 to N40 or something.

Yes, our government runs a bad economy, but the reason why is simple. The thing is, countries with strong economies (and don't mention Ghana because their currency hides a lot of bad things)....are countries which export manufactured goods and services. It is why the Swiss have a powerful currency, while we do not.

And that is why all of our leaders have run bad economies since the 1960. They run economies based on selling oil cocoa, cotton, etc tec...which prices we do not control. That leaves us with limited dollars to buffer our currency. When our forex needs were low, it was easy to pull off. When 1992 and the opening up of the global economy came around, that's when problems started.


I want us to vote out tinubu , but we need a government that would lead us to manufactured goods and services...otherwise, any good government of the kind you want is going to end up taking more loans to keep naira at N1 to N20 so that you can be happy, while we pile up debt for our kids. Like tinubu and buhari and gej and company did, until we could no longer sustain it by August 2022.

I like you. A lot.
Thanks for your civility. I agree with your points (not all though).

DeLaRue:
That goes to show most of the things you read in the Nigeria media are sponsored for political reasons.

Terrible people.

Why did nairaland moderators move this totally deceptive thread to front page

A currency barely changes, and you report it as losing value.

In reality, Naira has been one of the most stable currencies in Africa this year.

You can't build a successful country when virtually everyone is intent on undermining anything good.

dangote has
Same with other productive billionaires