₦airaland Forum

These are the kind of statistics we will keep seeing from the snake oil merchants in the Agbado Bureau of Statistics.

When they came on board 10 years ago in 2015 they met it at N197 to a dollar. It worsened at N2000 to a dollar in 2023.
Gladly when it now improved to N1429 to a dollar, the news they are circulating around is that it gained in 13 years.

smartkester:
The person actually asked a good question. Even with the unification of the exchange rate, Naira isn't supposed to dwindle to N1,000 to a dollar. The reason isn't far fetched, Nigeria isn't producing enough for the international market to make our currency stronger. Some of you really need to learn and stop defending Foolishness.

Uncle dwindler, if Nigeria is not producing enough... How come it's reliance on import is reducing gradually as shown in the positive balance of trade recently recorded

Question 2 : When dollar was the way it was before as the guy asked..... What was Nigeria producing to make the naira be at the rate it was then.... What were they producing then that they stopped producing now which made the naira lose value?

Boyooosa:
Hmmm....you are very cold with this but honestly, you just mentioned the truth and I do not blame Nigerians in this case, I blame our leadership system that is not building a society that can train sane minds, instead, it trains feeble minds that believe in stealing than building.

A typical Nigerian does not believe in any economic growth that does not reflect that a tin of garri is 5k or a litre of pms to be 50k, a price some of them heard it existed in the 70s.

It's very difficult to comfort someone like that (with such mindset) when his fishing site is converted to coaster line road, he won't consider the general growth of his locality or first society but his personal fun denied and the stipend that comes out of his scrapped adventure

The common man judges the health of the economy by the prices of basic things like food, clothes, house rent (accomodation).

If you judge the economy by these parameters, they will not be wrong.
Purchasing power of the masses has drastically reduced since 2023.

But you economic specialists think otherwise. And it's no problem too.

My own conclusion is: the government has become richer (they've always been rich no matter the situation), while the majority of the people have become even poorer. And it is very evident with what we see around us everyday.

Dennisochampa:
One enemy of Nigeria Don begin dey ask how much was the rate before the current administration took over...
One reason the corrupt leaders in Nigeria will always take advantage of an average Nigerian is because they know that most Nigerians don't take their time to reason before making conclusions about certain things... They are just like fallen leafs... Anywhere breeze blow go.... Them go follow....
How I wish they can be catapulted to the dark ages where they truly belong

Yeah Yeah Yeah

Dennisochampa:
One enemy of Nigeria Don begin dey ask how much was the rate before the current administration took over...
One reason the corrupt leaders in Nigeria will always take advantage of an average Nigerian is because they know that most Nigerians don't take their time to reason before making conclusions about certain things... They are just like fallen leafs... Anywhere breeze blow go.... Them go follow....
How I wish they can be catapulted to the dark ages where they truly belong

What do you want to say gan gan 😅😅😅

Before nko.. 13 years ago when the current president and him allies begin distabilize the country with insurgency.. we soon count scores. No worry.

Lifestone:
Good news about Nigeria is so painful to you guys. Las las we all dey this country

LeopardX:
The common man judges the health of the economy by the prices of basic things like food, clothes, house rent (accomodation).

If you judge the economy by these parameters, they will not be wrong.
Purchasing power of the masses has drastically reduced since 2023.

But you economic specialists think otherwise. And it's no problem too.

My own conclusion is: the government has become richer (they've always been rich no matter the situation), while the majority of the people have become even poorer. And it is very evident with what we see around us everyday.

To me, I think, technically, the govt of the day is attempting progress but without closing doors to all forms of corruption, they go nowhere

How has all the so called against translated to improve economic wellbeing of average Nigerians? Has the gains reflected in the prices of commodities? Abi they are just audio gain?

Lifestone:
Good news about Nigeria is so painful to you guys. Las las we all dey this country

What is the good news something they met at #500

Dennisochampa:
If them tell una to read before Una complain una no go gree.... Them make policies and unify the rate.... U still expect the rates to be the same... Omóh ehn... Na wa o

Hold on you unified rates without putting controls in place ajd you expect the rates will not crash that low? Bros na wah for una ooooo now you want to celebrate the gain as if you outperformed expectations.

spinna:
Commendable... Economic reforms albeit painful to the masses are yielding results

You people should stop this deceit abeg.

AsgardKing:
Speculation has been minimized because the difference between the official rate and black market is now under 5%.

Si when the official rate of the dollar was N450 the market rate was N800 - over 85% in commissions and arbitrage. That has been cut down to 5% and this is what foreign investors seek - a stable forex market so that they can know the true value of their money. Not to buy black market today, and then repatriation happens via official rates meaning they lose a lot or have to work thrice as hard.

Minimized ke!!! You have got to be kidding me

Boyooosa:
To me, I think, technically, the govt of the day is attempting progress but without closing doors to all forms of corruption, they go nowhere

There's no progress really let us stop deceiving ourselves.

Dennisochampa:
Uncle dwindler, if Nigeria is not producing enough... How come it's reliance on import is reducing gradually as shown in the positive balance of trade recently recorded

Question 2 : When dollar was the way it was before as the guy asked..... What was Nigeria producing to make the naira be at the rate it was then.... What were they producing then that they stopped producing now which made the naira lose value?

You lots are irredeemable and can't be schooled. I pray your life is ran the way BAT is running this country. If you can boldly say Amen I have nothing else to tell you.

Sponsored nonsense by Cardoso

Streetinvestor2:
It gained una papa.How much was it when this corrupt government did civilian coup

See as you dey suffer serious pains just because of this good news about Nigeria.


Any good news about Nigeria is a major trigger for you people.

Dennisochampa:
Uncle dwindler, if Nigeria is not producing enough... How come it's reliance on import is reducing gradually as shown in the positive balance of trade recently recorded

Question 2 : When dollar was the way it was before as the guy asked..... What was Nigeria producing to make the naira be at the rate it was then.... What were they producing then that they stopped producing now which made the naira lose value?

Don't mind that guy, that 2023 exchange rate was artificial then, it wasn't the true value of the naira as the country relied heavily on imports especially petroleum imports. We were not really producing.

Because the 2023 exchange rate was artificial, CBN was defending it with scarce forex and then speculators also were hoarding dollars because of the disparity between official and black markets. Emefiele benefited from this and that's why he came out to contest for presidential elections in 2023, some thing that had never been done by a serving CBN governor.

As regards then forex market, I give this government their flowers. They did a good job.

Smoke and mirrors.

What I find most interesting is how people justify the period when bat condemned pms at N85 as too high and dollar at N170 as signs of an incompetent government.

Yet, today, the same bat and his band of misfits expect Nigerians to celebrate fuel at N830 and dollar at N1,400...

Dollar is falling don't mind them. Government of lies

Walexy96:
I think dollar is falling normally. I will only credit CBN for the stability of the naira.

Streetinvestor2:
It gained una papa.How much was it when this corrupt government did civilian coup

My prayer everyday is that all those who are not happy about the progress of this country Nigeria will NEVER eat the fruit of the land. You can't be sad that the country is getting better and expect to reap where you didn't sow

Lifestone:
Good news about Nigeria is so painful to you guys. Las las we all dey this country

Maybe your education was a waste afterAll if you cant define goodnews at your AGE

Lets not even talk about Buhari time or past leaders ... 2025 $1 drop to almost 1100, how do you expect sane Nigerians to celebrate or laud 1450 as goodnews

Do you even know what it implies for your two highiest currency to exchange just for $1
How is it goodnews

NaijaphiliaBlog:
Naira Posted Its First Annual Gain In 13 Years





source

I no understand this news.

Abi the writer head no correct? 😁

smartkester:
You lots are irredeemable and can't be schooled. I pray your life is ran the way BAT is running this country. If you can boldly say Amen I have nothing else to tell you.

Simple question u don turn am to a battle of prayers and curses.... U guys always get defensive whenever it's time to have a rational discussion... Incase you missed it.... The Simple question I asked was....

When dollar was N450... What was Nigeria producing then that they no longer produce now that dollar is around N1500

My aim of asking you this question is simple...
To let you know that increase in dollar rate has very little to do with production... Rather the rate was inflated because the present administration decided to stop using enormous amount of money to defend the naira and keep it at the rate you knew some years back..... If you will be bold enough to reply me... It will make more sense than praying like a fake pastor who is looking for a way out of a problem he created for himself

Nothing to celebrate here

APC and Tinubu have destroyed Nigeria

Irony1:
Hold on you unified rates without putting controls in place ajd you expect the rates will not crash that low? Bros na wah for una ooooo now you want to celebrate the gain as if you outperformed expectations.

So question....

Nigeria spent an average of 15b dollars annually between 2020 and 2023 to defend the naira against the dollar....

Would u prefer to have your dollar rate at N450 while the government spends 15b dollars to defend it or u will stop defending the naira... Allow the market forces determine the rate and then hand over that 15b to state governors and local governments to facilitate development at the grassroots levels (as experienced in the increase in allocations to state governors in recent times under this administration)....

if your father who was funding your lifestyle withdrew the funding what would happen? Your expenses would increase. If despite the increase in your expense you were still bale to make some savings, would you consider it an achievement ?

Streetinvestor2:
It gained una papa.How much was it when this corrupt government did civilian coup

Lifestone:
Good news about Nigeria is so painful to you guys. Las las we all dey this country

let only this type of dollar good news, from 400 to 1400 locate you and remain with you and your family for 1400 years.

Since this is the good news you celebrate, let it remain permanent in your life.

Can I hear you say a loud Amen?

Lifestone:
Good news about Nigeria is so painful to you guys.

Las las we all dey this country

Was that not how good news was painful to All Promises Cancelled, APC leaders looters in their packaging of Tinubu's 2011 expired Buhari as change messiah four years later

How much per litre are Nigerians forced to pay as subsidy to this APC government for the massive corruption in the oil sector? Any idea? What is your guess?

anonimi:
Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/