₦airaland Forum

To start with am pro Buhari. But am not sure of where Nigeria is heading to, I don't know what to expect from this government anymore (good or bad).

However, I still hoping for better Nigeria under APC. Having said that, this government need to do more to rescue our currency from falling, because very soon Naira will be useless even to Cefa.

In fact, to buy 1000 Cefa now its about 650 naira while it was just 350 naira before, I was at tokpa market in cotonu on the 3rd of this month and I was ashamed of holding a Nigeria currency. (me that I used to boast whenever am there before) Which Way Nigeria?

One forex man told me to bring 6,000 Naira to exchange for 9,000 Cefa, the worst thing is that the price of their commondities still remain the same in Cefa, for example the price of jago condensed milk is 1,000 Cefa for more than three years now even when we exchage 1,000 Cefa for just 350 Naira. Which Way Nigeria?

Can those in the importation business survive ? I don't want to talk about dollar I know it will be the worst. So am calling on our economic team,the CBN and others major actors to do something about our currency as soon as possible. Thanks

NB: please ignore my typing error and pass the message the the president.

Cc: presidency

Please if anyone knows where Nigeria is heading let me know.

Well, the reason why the Naira is falling is because thanks to the fall in international oil prices (and also thanks to the fall of our agricultural sector since the 1970's)...we do not have the dollars/foreign exchange to buffer the naira. So, the naira is falling.

(That CFA franc you are looking at....is buffered by France to the tune of billions of Euros..that is why it is ''strong'').

The only way for the Naira to be strong is by Nigeria getting a stable source of foreign exchange....and that can be gotten by only one way...Nigeria becoming an industrial society.

Quakertellicus1:
Well, the reason why the Naira is falling is because thanks to the fall in international oil prices (and also thanks to the fall of our agricultural sector since the 1970's)...we do not have the dollars/foreign exchange to buffer the naira. So, the naira is falling.

(That CFA franc you are looking at....is buffered by France to the tune of billions of Euros..that is why it is ''strong'').

The only way for the Naira to be strong is by Nigeria getting a stable source of foreign exchange....and that can be gotten by only one way...Nigeria becoming an industrial society.

You've Said it All.

justhelp:
To start with am pro Buhari. But am not sure of where Nigeria is heading to, I don't know what to expect from this government anymore (good or bad).

However, I still hoping for better Nigeria under APC. Having said that, this government need to do more to rescue our currency from falling, because very soon Naira will be useless even to Cefa.

In fact, to buy 1000 Cefa now its about 650 naira while it was just 350 naira before, I was at tokpa market in cotonu on the 3rd of this month and I was ashamed of holding a Nigeria currency. (me that I used to boast whenever am there before) Which Way Nigeria?

One forex man told me to bring 6,000 Naira to exchange for 9,000 Cefa, the worst thing is that the price of their commondities still remain the same in Cefa, for example the price of jago condensed milk is 1,000 Cefa for more than three years now even when we exchage 1,000 Cefa for just 350 Naira. Which Way Nigeria?

Can those in the importation business survive ? I don't want to talk about dollar I know it will be the worst. So am calling on our economic team,the CBN and others major actors to do something about our currency as soon as possible. Thanks

NB: please ignore my typing error and pass the message the the president.

Cc: presidency

stop importing
Start producing locally

There is no way a country will produce all her needs.