₦airaland Forum

anonimi:
Did education and intelligence log out for APC progreThief leaders looters below since 2015, when they have failed to achieve their recycled goals for exchange rate?

The worst case being Tinubu, who saved $84 billion from subsidy removal and borrowed $3.3 billion to specifically defend the Naira. Borrowed money from Afreximbank through an SPV future oil revenue security, arranged by UBA at the outrageous rrate of 11.85%.


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Kindly refrain from quoting me.

I must confess, I have yet to discover any trace of coherence in your posts, just long with attached wandering and fairy tales that possess neither head nor tail. And as though that weren’t sufficient, they are almost always gloriously unrelated to the topic at hand… or even to the comment you claim to be responding to.

Some obedient even counter posts intelligently, but this is nothing but complete bulshit occupying my mention. I have long stopped reading any of these craps.

anonimi:
Your progreThief balablu story is at variance with Wale Edun’s testimony and data on PDP’s prosperity years of deregulation and privatisation.

Your posit is in abeyance to logic.....how many recession have we suffered since 2015,have we ever had the kinds of high oil revenues we had during the GEJ era?

nightsaint:
How would a weak naira encourage production? Someone should please educate me.

Okay let's begin.

Let's start with a common export crop cocoa.
The cost of 1 ton of cocoa export from Nigeria to the US is around $3,078.48 as of February 24, 2026. However, prices can fluctuate due to market conditions. In 2024, Nigeria exported $39.66 million worth of cocoa and cocoa preparations to the US.

*Recent Export Prices:*

- _Cocoa Beans (Whole or Broken):_ $22.08 million (2024)
- _Cocoa Paste:_ $3.99 million (2024)
- _Cocoa Butter, Fat and Oil:_ $456.83K (2024)
The above revenue was based on the average of N1400 to $1 now assuming the farmer produced 1 ton at the exchange rate of let's say N900 to $1 his revenue will plumete to a lower amount. The implication is that he earns less when the naira is strong against the dollar.
I believe you have gotten a little idea why a very strong naira will not favour production optimisation in a country.

Lithiumite:
Your posit is in abeyance to logic.....how many recession have we suffered since 2015,have we ever had the kinds of high oil revenues we had during the GEJ era?

Oil revenue started crashing in 2013, but PDP still grew the economy due to the strong privatisation and deregulation policies started in 1999.

Facts are what they are- FACTS!

anonimi:
FG, States, LGs Share N568.4 Billion for Oct
15 NOVEMBER 2013

Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that the states had requested for $2bn to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

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anonimi:
How Indorama sustains manufacturers, boosts Nigeria’s FX earnings

Indorama Eleme Petrochemicals Limited (IEPL) has emerged as a major value creator in the Nigerian economy. It is responsible for the survival, growth and sustenance of many manufacturing companies in Nigeria today. A large number of plastic and allied firms depend on the Eleme-based company for petrochemical resins (or polymer resins) which serve as their raw materials.

The petrochemical company is just one of the several subsidiaries of Indorama-Nigeria Group, which also comprises Indorama Eleme Fertilizer & Chemicals Limited (IEFCL), Indorama PET Nigeria Limited, and Indorama Port Operations.

Since Indorama Corporation of Indonesia became core investor in the old Eleme Petrochemicals Company Limited (EPCL) in 2006 through privatisation programme of the Federal Government, the group has become a game changer in the Nigerian economy.

The petrochemical company has solved the major challenge facing a number of manufacturers— poor access to raw materials. Rather than scramble for foreign exchange to import inputs, the company ensures that manufacturers have access to their critical raw materials, enabling them to save costs and improve margins.

The major resins used by plastic and allied companies are polyethylene and polypropylene. Indorama produces about 45 grades of these products for various industries. About 600 of such companies in Nigeria depend on IEPL for their survival. They are estimated to have over 90,000 workers.

https://businessday.ng/real-sector/article/how-indorama-sustains-manufacturers-boosts-nigerias-fx-earnings/

anonimi:
Oil revenue started crashing in 2013, but PDP still grew the economy due to the strong privatisation and deregulation policies started in 1999.

Facts are what they are- FACTS!



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Why were revenues dwindling and the economy was growing according to you, also remember to show us the budget deficit,% 11-15,debt to revenue ratio lets juxtaposed with the figures were have now.

nedekid:
You are talking rubbish, maybe you live abroad and wish plenty poverty in Nigerians so with the little fx you bring in you buy people's land, houses, wives, girlfriends cheaply.
The most a dollar should be is 460, atleast that was what Tinubu met it at while the pound at 560. Abi don't you know how this people have made Nigerians poor? Go outside the country with your naira, what is hard for you to spend money on is what people from the legacy poorest countries of the world, even the previously yeye African countries we use to do big brother for will blowing money on while you will be calculating it's equivalent in naira. Enter German kebab, buy their wrap with some extras, you are down £20, enter KFC, £20, na N45k alert you go get for your Eg Zenith bank card!
Oga at 1000 to $1, how will Nigerians ever ever ride a brand new car? Eg a corolla that cost $28k will automatically be N28m, by the time you ship, add duty, add dealer profit the car will be N60m, you personally can you afford 60m for a baby car that in a sane environment it is car your child that turns 16 should be driving? Haba I was with my younger brother the other day in his gleaming Mercedes, a small size one with those fancy amoled wrap around screen dashboard, guess what? He said he wanted to gift it to his 17 year old son! Benz ohh, moto they will call 100s of millions of naira for, person say him wan dash small pikin, and he said it so causally! Note that he is not rich, but the fact is that the purchasing power in that country makes him able to afford it! Where is our own purchasing power as Nigerians? All the cars you see in the roads of recent are all old, junk, scrappy car, go to south Africa, Kenya, Ghana and you see we in naija are celebrating buying cars fit for the junk yard!
To return some sort of dignity to Nigeria, Tinubu needs to return naira to atleast N300 to the dollar.

Okay let's begin.

Let's start with a common export crop cocoa.
The cost of 1 ton of cocoa export from Nigeria to the US is around $3,078.48 as of February 24, 2026. However, prices can fluctuate due to market conditions. In 2024, Nigeria exported $39.66 million worth of cocoa and cocoa preparations to the US.

*Recent Export Prices:*

- _Cocoa Beans (Whole or Broken):_ $22.08 million (2024)
- _Cocoa Paste:_ $3.99 million (2024)
- _Cocoa Butter, Fat and Oil:_ $456.83K (2024)
The above revenue was based on the average of N1400 to $1 now assuming the farmer produced 1 ton at the exchange rate of let's say N900 to $1 his revenue will plumete to a lower amount. The implication is that he earns less when the naira is strong against the dollar.
I believe you have gotten a little idea why a very strong naira will not favour production optimisation in a country.

Wickedfact:
How much did PDP meet the Dollar to Naira when they got into power in 1998?
How much did PDP leave the Naira to a Dollar in 2015 when they left?

When will you guys ever stop being on the negative side of things.
The naira was once equivalent to British pound.
Is it a good thing that it's been devalued, even if pdp meet it below 100naira

Una don buy market, its impossibletoreturn the Naira to the pre-2023 rate or elsenagobefor earnings and the economy in general

Lithiumite:
Very low interests rate will flood the economy with too much liquidity without commensurate production capacity to meet such demand there by resorting to importation and then increased dollar demand which will then further depreciate your currency and the excess liquidity leading to inflation which you are fighting so hard to contain.

The challenge is had we ever thought of becoming a producing nation? The economy is still liquid and now the banks have more capacity to support the real sector however, policy misalignment has always been a major challenge. Interest rate needs be dropped to encourage people invest in the real sector. The CBN should leave the exchange rate to the market to determine its price. They cannot control interest rate, inflation, and exchange rate at a time. They should focus on interest rates and inflation.

bestman09:
Naira and audio rising. I bought $200 USDT at N1400 2 days ago

Which platform did you use?

Kingray10:
When will you guys ever stop being on the negative side of things.
The naira was once equivalent to British pound.
Is it a good thing that it's been devalued, even if pdp meet it below 100naira

Even if PDP met it where?
Shebi you were opening your mouth to talk about APC?
Don't be hypocritical and tell us how much Pdp met it and how much they left it.

Kingray10:
These guys should take the naira back to where they meet it.
And keep it at that level.
Bc of a certain amount they peg the naira during budgets presentation they don't want the naira to appreciate

Economics doea not work that. It is vetter you educate yourself.

Its like asking your wife to have the same freshhness she had 20 years ago, before she gave you 4 kids.

The focus now is Naira stability. That is close to what is possible.

If non-oil revenues increase massively and non-oil exports start surging, and the budget deficits minimized, along with borrowing, the Naira can remain in the N1300-1,600 band for the next decade.

saintopus:
The trend is okay, the production sector needs to be encouraged. This is possible if the naira could be stabilised. The naira being too strong will harm local production but encouraged importation.
For a country that needs production and manufacturing, the naira standing within the range of N1000 to the dollar is fantastic.

For those asking me how a strong naira may not favour production.
Okay let's begin.

Let's start with a common export crop cocoa.
The cost of 1 ton of cocoa export from Nigeria to the US is around $3,078.48 as of February 24, 2026. However, prices can fluctuate due to market conditions. In 2024, Nigeria exported $39.66 million worth of cocoa and cocoa preparations to the US.

*Recent Export Prices:*

- _Cocoa Beans (Whole or Broken):_ $22.08 million (2024)
- _Cocoa Paste:_ $3.99 million (2024)
- _Cocoa Butter, Fat and Oil:_ $456.83K (2024)
The above revenue was based on the average of N1400 to $1 now assuming the farmer produced 1 ton at the exchange rate of let's say N900 to $1 his revenue will plumete to a lower amount. The implication is that he earns less when the naira is strong against the dollar.
I believe you have gotten a little idea why a very strong naira will not favour production optimisation in a country.

Slave chained economist
Why doesn't the Europeans weaken their currency to attract cheaper exports why doesn't Kuwait uae Saudi weaking their currencies?

So qatar and Nigeria with weaker currency which one better pass based on your analysis ,like this if u become qatar president u go devalue their currency abi!!!!

Na thunder go fire all of una that keep on supporting rubbish and failure

Finally seen someone with intelligence on NL!
This is a rare phenomenon.

saintopus:
The trend is okay, the production sector needs to be encouraged. This is possible if the naira could be stabilised. The naira being too strong will harm local production but encouraged importation.
For a country that needs production and manufacturing, the naira standing within the range of N1000 to the dollar is fantastic.

For those asking me how a strong naira may not favour production.
Okay let's begin.

Let's start with a common export crop cocoa.
The cost of 1 ton of cocoa export from Nigeria to the US is around $3,078.48 as of February 24, 2026. However, prices can fluctuate due to market conditions. In 2024, Nigeria exported $39.66 million worth of cocoa and cocoa preparations to the US.

*Recent Export Prices:*

- _Cocoa Beans (Whole or Broken):_ $22.08 million (2024)
- _Cocoa Paste:_ $3.99 million (2024)
- _Cocoa Butter, Fat and Oil:_ $456.83K (2024)
The above revenue was based on the average of N1400 to $1 now assuming the farmer produced 1 ton at the exchange rate of let's say N900 to $1 his revenue will plumete to a lower amount. The implication is that he earns less when the naira is strong against the dollar.
I believe you have gotten a little idea why a very strong naira will not favour production optimisation in a country.

bestman09:
Naira and audio rising. I bought $200 USDT at N1400 2 days ago

Mimi you be! Is usdt same as USD? Dollar plenty like water with our banks below 1400/USD

nedekid:
You are talking rubbish, maybe you live abroad and wish plenty poverty in Nigerians so with the little fx you bring in you buy people's land, houses, wives, girlfriends cheaply.
The most a dollar should be is 460, atleast that was what Tinubu met it at while the pound at 560. Abi don't you know how this people have made Nigerians poor? Go outside the country with your naira, what is hard for you to spend money on is what people from the legacy poorest countries of the world, even the previously yeye African countries we use to do big brother for will blowing money on while you will be calculating it's equivalent in naira. Enter German kebab, buy their wrap with some extras, you are down £20, enter KFC, £20, na N45k alert you go get for your Eg Zenith bank card!
Oga at 1000 to $1, how will Nigerians ever ever ride a brand new car? Eg a corolla that cost $28k will automatically be N28m, by the time you ship, add duty, add dealer profit the car will be N60m, you personally can you afford 60m for a baby car that in a sane environment it is car your child that turns 16 should be driving? Haba I was with my younger brother the other day in his gleaming Mercedes, a small size one with those fancy amoled wrap around screen dashboard, guess what? He said he wanted to gift it to his 17 year old son! Benz ohh, moto they will call 100s of millions of naira for, person say him wan dash small pikin, and he said it so causally! Note that he is not rich, but the fact is that the purchasing power in that country makes him able to afford it! Where is our own purchasing power as Nigerians? All the cars you see in the roads of recent are all old, junk, scrappy car, go to south Africa, Kenya, Ghana and you see we in naija are celebrating buying cars fit for the junk yard!
To return some sort of dignity to Nigeria, Tinubu needs to return naira to atleast N300 to the dollar.

My brother prices of new cars will make you realise how worthless Nigeria currency is. You go dey hear 300m, 500m, 160m

MEGAWATCH:
Bring back the Naira to 700 to a dollar,...

Is that too difficult for Tinubu and his block head supporters?


Nawaoo!

🤔🤔🤔🤔

If you were an exporter, is that good news? No! We need to encourage ecportation

saintopus:
Okay let's begin.

Let's start with a common export crop cocoa.
The cost of 1 ton of cocoa export from Nigeria to the US is around $3,078.48 as of February 24, 2026. However, prices can fluctuate due to market conditions. In 2024, Nigeria exported $39.66 million worth of cocoa and cocoa preparations to the US.

*Recent Export Prices:*

- _Cocoa Beans (Whole or Broken):_ $22.08 million (2024)
- _Cocoa Paste:_ $3.99 million (2024)
- _Cocoa Butter, Fat and Oil:_ $456.83K (2024)
The above revenue was based on the average of N1400 to $1 now assuming the farmer produced 1 ton at the exchange rate of let's say N900 to $1 his revenue will plumete to a lower amount. The implication is that he earns less when the naira is strong against the dollar.
I believe you have gotten a little idea why a very strong naira will not favour production optimisation in a country.

Hmm, so you say if he produces exports 1ton costing $1000 per ton @N1400 to $1 his earns N1.4m.
If he exports the same 1ton at N900 to $1 he makes N900k.
Is this the basis on which you say naira should remain at 1k so the Eg farmer can earn more money? Oga respectfully this is one of the most messed up analogy I have ever heard! What makes you think the farmer is better off with the "extra" money when it is inflationary? Are you saying if naira appreciates so much it becomes N100 to $1 that the cocoa farmer is going to be devastated with a huge loss, abi wount the prices of other goods in Nigeria reduce drastically to reflect the appreciation and thus increase of the purchasing power of Nigerians? What is the benefit of the farmer earning more with a depreciated currency without the ability to purchase machinery and parts?
Where I know keeping your currency low to make exports cheaper is in countries who are manufacturing powerhouses Eg China that wants to keep their exports highly attractive due to low prices, not like Nigeria that exports but not in that level more like an import economy.
Abi maybe government should make naira 2k to 1 $ so that the cocoa farmer can get 2m from one ton and then other Nigerians cannot afford what their peers around the world easily can?
When the cocoa farmer earns more naira but there is inflation, how does he spend the money when everything around him is expensive?
See in one of my line of business, almost all the people that own similar machines within 1 year an electronic piece of that unit breaks down, a little item you may call the brain box, once it does that machine is abandoned because it cannot be fixed in nigeria, you either buy a new one from the manufacturer in thousands of dollars or you get a company in Portugal or UK to rebuild it, Oga you will see equipment worth millions abandoned and rotting away, why? The money they earn from that equipment seems much locally but when you convert it to dollars it is little and hence cannot maintain the equipment.
2015 each use of the equipment earned N60k or $400, today that 60k will be $42.
Today we charge 250k (people cannot afford more) and that gives $178, less than half of what we earned 10 years ago, meanwhile the machine, it's parts etc is even more expensive to get and maintain than 2015, even the import duty is higher.
As per my analogy using a corolla, at the N1k to $1 less than 1% of Nigerians legitimately working will be able to afford it, something kids within their first year of work can buy in other places, except you are a politician stealing money, a trader, or those forex traders doing abrakadabra, or a sabinus making money from social media, or a money na watarr "citiboy" aka people without verifiable sources of income, dodgy, fake certificate, credit card expert, white power dealer etc no way you can afford a $28k car at your proposed N1000 to $1 ie 60m naira Toyota corolla.

nedu666:
My brother prices of new cars will make you realise how worthless Nigeria currency is. You go dey hear 300m, 500m, 160m

Bros and people can have the guts to suggest naira should be 1k, can you imagine? Few years ago during buharis time at that shoprite in maryland, a Honda accord was displayed in the lobby for 11m, brand new not tokunbo, I remember complaining to madam say see how much this car that was just 6-7m is now 11m, Bros I could afford to buy that car even though I complained. Today I am not sure you can buy that same car with less than 100m! Who can afford 100m? Which worker? Today you hear 400m even 900m for a high end car. OK cheap one for us struggling people nko, BYD released one of the cheapest evs the dolphin or so, $8k in china, people around they world are enjoying it, next thing CFAO marketing staff contacted me to check their cars out, I was excited, Omo when I hear price, my blokos fall! The cheapest car na 37m! I hear it cost more now.

yinkus6750:
Until we drastically minimize demand for forex, that's when we can have a huge decline in exchange rate.
Total ban on importation of fuel will really help.
Reducing 0.05% on interest rate,leaving it at 26.5% is not encouraging @ all.
When other countries are doing single dit, 20% for a start would have been commendable.
Our financial management is still very poor.

who are the ones demanding for forex? O-lo.do

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Smart Alecs already bought and ready to dump. The poindexters are online living in the fantasy world in their brains. Naira is not a store of value. Case closed.

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