₦airaland Forum

LofP:
Voodoo economics. Naira is going back above #1500 before the end of the year.

You want to bet your money?

He’s been saying that since the start of the dangote refinery

Sermwell:
How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time!

Do you mean the old padded rate? The one that we were borrowing money to subsidize? You can't compare a padded and unpadded hip of a woman. Remove the padding and you will see the true size of the hip of the woman.

As if we have not been better than that before.
During Sani Abacha government it was 120 naira to a dollar.
So we should go back to Glory days.
After all it was still them that destroyed the economy

The Obidients initially doubted Tinubu’s resolve and Cardozo’s competence, by shouting “buy the dip” anytime the naira appreciates but that isn’t the case any longer. When last you hear dem shout buy the dip?
Even Aisha Yesufu has sold all her dollars at the black market before Tinubu makes them worthless

nairalanda1:
So long as Nigeria is not producing much more manufactured goods and services, any appreciation of the naira is temporary and fleeting

If over 65% of the fx you spend importing petroleum products is taken off you mean that there will be no real effect? If as a result of removal of padding of the naira the rates went up and discouraged uncontrolled importation of luxuries and irrelevant items, wouldn't this improve the rate?

kingimmade:
that'll bring great development

It may not, the reason is that if we are producing goods and services, those goods will now be sold at a cheaper price meaning that people will start to earn lesser. Yes prices of cars, phones TVs, machine tools etc will fall but farmers for instance who export their products will now earn less. FAAC too will now share less money monthly.

You catch the joke?

Vision101:
If over 65% of the fx you spend importing petroleum products is taken off you mean that there will be no real effect? If as a result of removal of padding of the naira the rates went up and discouraged uncontrolled importation of luxuries and irrelevant items, wouldn't this improve the rate?

I would like you to forget about politics and obi vs tinubu, and whatever for five minutes. Give me that time.

Yeah, what you said would benefit us. BUT...and this is a big BUT...Our overall forex income is too too low for a nation our size.

Big nations with really good currency all have one thing in common...a strong manufacturing sector. Dangote is doing his bit, not going to lie....but we need far more than that.

That';s why we still got a long way to go. Sorry, but we got to remove subsides on power, fix security, and all that, and get rid of the idea that we go to school to work for office (that one is nothing no government can do)...maybe we would get there.

That's why I am not improessed. Whoever is in charge.

Five minutes up.

Razzness:
Even if 1 naira becomes equal to 1 dollar, wailers will still wail.

APC is a party that only attracts dubious people who know nothing about governance.

Make 1 USD equal to 1 naira first before saying what wailers will do.

You took something from N200 to N1300 and expect the world to clap for you. Wake up!

nairalanda1:
I would like you to forget about politics and obi vs tinubu, and whatever for five minutes. Give me that time.

Yeah, what you said would benefit us. BUT...and this is a big BUT...Our overall forex income is too too low for a nation our size.

Big nations with really good currency all have one thing in common...a strong manufacturing sector. Dangote is doing his bit, not going to lie....but we need far more than that.

That';s why we still got a long way to go. Sorry, but we got to remove subsides on power, fix security, and all that, and get rid of the idea that we go to school to work for office (that one is nothing no government can do)...maybe we would get there.

That's why I am not improessed. Whoever is in charge.

Five minutes up.

For the first time you said things right. Totally agree.

/
Nice one!

But it is what it is---a prediction. Just like the prophecies of the now disgraced Primate Ayodele.

/

Sermwell:
How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time!

There is a misconception of what the true value of Naira was! For the longest time, the value of Naira was heavily subsidised! It wasn’t based on actual market reactions. Imagine a country that earns only from oil, having dollar under N300? And what were we subsidising in actual fact… flight tickets, hospital tourism, overseas schooling etc! The true value of Naira was what we saw after the subsidy on forex was scrapped, paid all forex backlogs and settled all our international airline exchanges!

This generation is too uneducated, we don’t read! If we do, all these things are in black and white!

Na now I enter yahoo una wan crash dollar?


Make una no just try am

SmartPolician:
APC is a party that only attracts dubious people who know nothing about governance.

Make 1 USD equal to 1 naira first before saying what wailers will do.

You took something from N200 to N1300 and expect the world to clap for you. Wake up!

They don’t take it! It’s market’s reactions that dictates the values of currencies! If we were exporting and getting a lot more dollar in, Naira will be stronger! We were majorly consuming for petrol imports, foreign airline settlements, overseas’ schooling, medical tourism etc… forced of demand and supply!

Honestly, if we can tackle electricity and we become optimally industrialised it will even get better!

Vision101:
Do you mean the old padded rate? The one that we were borrowing money to subsidize? You can't compare a padded and unpadded hip of a woman. Remove the padding and you will see the true size of the hip of the woman.

Thank you, the first sane comment! Many Nigerians are just not knowledgeable enough to know what was happening!

Perewenkle1:
While we welcome the Naira appreciation, we hope the cost of living is also dropping?

There will be resistance, remember a lot of dollar hoarders kept their monies hoping it will rise again… today they are dumping it like crazy!

lionshare:
You want to bet your money?

No need to bet. Let's just come back when the year has gone far and you see the event unfold.

He said it’ll come down to N1,100 if we are lucky

Hopefully, we are lucky.

Sermwell:
How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time!

Try to understand na, no just dey talk just to stay relevant.
I don't like the current government but let's not judge with our dwarf knowledge of economy.
Floatation of dollars is just like removing subsidy na, which was a big fraud many children of the rich were involved in.
I knew of a guy then that used to buy dollars at official price and sell at black market price, thereby gaining massively on every 1k dollars he exchanged.
That's what's called arbitrage so eradicating such system isn't that bad

Nigerians should only use PMS refined in Nigeria, this alone will tilt the balance of payments more favorably to Nigeria's favour, increasing the value of the naira against the dollar and other currency, this gives more value to our resources, capital, human resources, mineral resources...a more valuable naira creates a more wealthy Nigeria and Nigerians. Our aim should be to refine at least 85% of our crude oil, in our private refineries in Nigeria and export finished product, this will bring more value to our country.

Sermwell:
How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time!

Oya how much was naira since you know everything.

He should first reduce the price of his dangote cement from the present 11k per bag to 5k per bag

I can't understand why you people are obsessed with political parties. APC this, PDP that, is it not people that make up the party. If tomorrow now your preferred candidate join the party, it will suddenly become different.

SmartPolician:
APC is a party that only attracts dubious people who know nothing about governance.

Make 1 USD equal to 1 naira first before saying what wailers will do.

You took something from N200 to N1300 and expect the world to clap for you. Wake up!

this one all of them dey predict......what goods are you exporting?

tinubu don give dem update

election don near, abracadabra don start

Hungrychicken:
Naira was almost 1,400+ for 2yrs. Next year na election all of a sudden e don de come down

we sabi there pattern......tinubunomics

I guess many people didn't catch that. Baba wan make BAT block everything importation...even USA and co, with strong economies import all sorts of things.

nedu666:
Which imports does dangote want govt to block. Of course we know who he is referring to

For election year, na big lie be dat

Sermwell:
How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time!

Sometimes, i feel so paid with those that could read and write so well but lack common sense .before now, whe hear in the news about Fx intervention where CBN intervention at interval.
How soon havebyou forgotten the peg of dollar to 400 :1 while black market is trading at #800 to #900 despite previous CBN intervention? Isn't that fraudulent?
The best thing is for a truthful government to remove the 400 peg and let Naira find his real based as regards production value of the country.
People in crypto will have more understanding on this .

Government incentivized businessman. Well done, Aliko.

Sermwell:
How much was Naira before these fraud of a government came in? Now we want to be celebrating fraud in the name of achievement! You can fool some people sometimes, but you can't fool all the people all the time!

Tell us how much naira was before, and if your governor could even pay all workers then without owing, if your governor has anything left for building infrastructure. Now, everything is comming down gradually. Amechi that was hungry before due to high cost of foods can now buy at lower prices than then. ipob that was stopping your peace before and locking you up every Monday h
ave been conquered and broken to pieces by Tinubu. So, why are you still complaining?