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Nairaland Forum / Nairaland / General / Business / Naira Falls Against US Dollar (38401 Views)
Unbelievable!!! Naira Falls To N485/$1, N600/£1 / Naira Falls To N370 Per Dollar / Naira Falls To 325 On Dollar Shortage -punch (2) (3) (4)
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Re: Naira Falls Against US Dollar by horpeyvictor: 7:31am On Sep 17, 2016 |
what I believe is this " ALL WILL BE WELL " |
Re: Naira Falls Against US Dollar by harmbhrosz(m): 7:35am On Sep 17, 2016 |
beautiful232:nice legs |
Re: Naira Falls Against US Dollar by beautiful232(f): 7:37am On Sep 17, 2016 |
harmbhrosz: thanks |
Re: Naira Falls Against US Dollar by beautiful232(f): 7:38am On Sep 17, 2016 |
emvico: |
Re: Naira Falls Against US Dollar by Nobody: 7:39am On Sep 17, 2016 |
2 Likes |
Re: Naira Falls Against US Dollar by Nobody: 7:48am On Sep 17, 2016 |
The nomad is a blunder! 1 Like |
Re: Naira Falls Against US Dollar by biggz82: 7:51am On Sep 17, 2016 |
If Maga pay now no b small money oooo |
Re: Naira Falls Against US Dollar by tunary(m): 7:52am On Sep 17, 2016 |
Very good. I will make naira equal to dollar. Fake campaign promise. Lies everywhere 1 Like |
Re: Naira Falls Against US Dollar by tunary(m): 7:53am On Sep 17, 2016 |
biggz82:abi |
Re: Naira Falls Against US Dollar by juman(m): 7:58am On Sep 17, 2016 |
No government in place. 1 Like |
Re: Naira Falls Against US Dollar by Nobody: 8:06am On Sep 17, 2016 |
Oluwabusobomi:Ha! Na strong one b dat o babe. |
Re: Naira Falls Against US Dollar by lastpage: 8:07am On Sep 17, 2016 |
This, they attributed to the surge in demand for dollars for importation, as it outstripped the available liquidity in the market. The current Govt is moving the country in the RIGHT DIRECTION, by diversifying our sources of Forex while at the same time TRYING TO reduce our penchant for dependence on anything foreign, which needs "Dollars" to IMPORT. The Govt of President Buhari has intensified efforts in Agriculture and we can all see as even Youths are embracing farming while Govt is investing in large scale Agriculture such that in a few Months time, we will begin to see a drastic fall in the Price of Rice (Until then, l nor dey chop Rice again ). It has intensified efforts in Minerals like Nickel, as an alternative "EXPORT PRODUCT" (aside the ubiquitous Crude Oil whose value is falling faster than the Naira itself). The Govt is working resuscitating dead cottage industries like Tanning, Cloth Manufacturing, e.t.c. The Govt is FORCED to take "hard Decisions" to save the country from total collapse from the PILFERAGE of the Jonathan administration which if he had any Balls under his legs, he should have taken those "hard decisions". Our over-reliance on IMPORTED foreign goods means that we, by our own actions, KILLED OUR OWN INDUSTRIES. Some of our Brothers have become multi-millionaires not because they could produced tooth brush or a plastic plate but by killing our own industries while running to China to "assist" Chinese industries to survive. How does one explain tha a few years back, we have Battery Manufacturing Industry like "BEREC" in Nigeria while none exists in the country as of today......... while our consumption of the same BATTERY has more than doubled? They put Pressure on the Naira by "desperately changing it to Dollars" at ANY COST. They then go to China and ask some "Crooked Chinese Manufacturer" to reduce the quality of batteries (for example, reducing the number of standard plates the battery is supposed to carry, thus its "power-storage capacity"!) to be manufactured SPECIFICALLY for the Nigerian market. This is the rubbish they will import into Nigeria and sell as "standard batteries", at exorbitant prices....... while shouting "Naira is falling"! These are some of the issues this Govt must address. If you must source Dollar and must IMPORT anything, then it MUST meet "International standards", as would be imported into the Americas or Europe. The little Dollars the country is able to muster is being wasted by ECONOMIC SABOTEURS who are also the first to criticise the Govt of President Buhari. *Nigerians MUST STOP importing anything and everything, even things they can do without or find a local alternative for. That is one way to firm-up the value of the Niara (Not by making silly comments on the internet just because you have free megabyte!) *Nigerians must invest and produce "exportable products" so we can also earn Dollars (Not just desperately looking for Dollars to spend). *Nigerians must shun wasteful life-style, even if you can afford it (There are many who that money can benefit and still give you returns! Its time Govt place a ban on spraying Money at party's. It is immoral, in an economy where some people have not have Lunch. *CBN must stop all these "trial & error", policy somersaults of the last one year. The Governor should resign if he has no new & effective solutions *President Buhari must resist by all means necessary, any further attempt to increase the pump price of Petrol. It has never solved the problem envisaged (since Obasanjo started increasing it seven times in his eight years of Presidency! The "Cabals" who benefit will blackmail him by creating shortages but he must not fall for their blackmail because it wont be the first nor be the last time.) *President Buhari should rather double-efforts to ensure that our own refineries work and he should build new ones while encouraging (if they want to) those private investors who want to build new ones (at the current selling price of fuel.... or they should just phuck-off!) *Govt should be open about how much and where they invested any recovered "looted" funds... Looters MUST be jailed to serve as a deterrence, irrespective of their "calibre" in society. No one should be a sacred cow, not even Buhari's cows in Daura. Finally, enough of all these complaints and gnashing of Teeth by Nigerians, over the Dollar, which is not even our currency! Let us be more patient, things are hard but only hard people survive harsh times. After the heavy rain, comes sunshine. Nigeria go better. Lastpage! 6 Likes |
Re: Naira Falls Against US Dollar by Bablo08(m): 8:11am On Sep 17, 2016 |
modath:Pls help me enlighten impatient nigerians o... 1 Like |
Re: Naira Falls Against US Dollar by six2s: 8:41am On Sep 17, 2016 |
Nigeria is the only country were past leaders are alwways better dan d current one |
Re: Naira Falls Against US Dollar by Deeman1(m): 8:43am On Sep 17, 2016 |
modath: See you guys don start again, when obasanjo came into power in 1999 he price of oil was $16 per barrel of crude, and he met foreign reserve at $9 billion. He left foreign reserve at almost $30 billion and GEJ maintained that reverse till he left power. So this excuse of this government claiming price of oil my foot. Price of oil now is $49.45 a barrel 2 Likes 1 Share |
Re: Naira Falls Against US Dollar by goldedprince: 8:45am On Sep 17, 2016 |
This is the best thing that have ever happened to nigeria. I see it skyrocketing to 800 soon. I hope buari remains there for the next 10years. Best president ever. I have never voted before, but if buari contest again, i must vote and if possibke rig the election for him. If u idiots use ur brain wella u will benefit from dollar rise. Best change i have ever seen |
Re: Naira Falls Against US Dollar by favexx(f): 8:52am On Sep 17, 2016 |
salabscholar01: |
Re: Naira Falls Against US Dollar by tiwiex(m): 8:56am On Sep 17, 2016 |
modath: This is why Buhari suggests we think outside the box. Yes, we need to stop excessive importation eventually but economics models re changing. The problem is not excessive importation but scarcity of dollarsm think for a moment. It was this one track thinking that wrecked d economy. Buharis assumption was the dollar I'm criecualtion was all from oil exports. A big NO. Buhari wasted too much time and a lot of money ran out. Had to be converted to dollar. Prices started rising. No one wants to bring money back in. Airlines is an example. Ghana suppose dey crisis too. They are. But our currency is the most devalued globally. We are even breaking our record daily. It was this propaganda talk and GEJ did it argument that made things worse. We cannot fix importation overnight. So, we watch the economy crash because of that? Excuses. |
Re: Naira Falls Against US Dollar by Mockinbird: 8:59am On Sep 17, 2016 |
Keep falling. |
Re: Naira Falls Against US Dollar by tiwiex(m): 9:04am On Sep 17, 2016 |
iykecicero: I tire for the line economists we have oh. They have been fed the story so long they now believe it. Just the way we believed PMB had d magic wand. Every justs screams importation like they know what they talking about. Did they not remove subsidy? Did they not float exchange rate so that they can source independently. Why are all these things not working? No one wants to deal with Nigeria right now. Too risky. I don't know what our S&P ratings will be now. Hopefully not as bad as PMBs math result. By the time the currency was floated, confidence had been lost. It goes beyond import is to night this or we are not exporting that. I am not saying we sbould not export more or import less. Thanks for ur observation. |
Re: Naira Falls Against US Dollar by mrZENographer: 9:14am On Sep 17, 2016 |
They're always blaming dollar importation. IDUOTS. Can't they start exportation industries as a counter measure? Billions going to their accounts daily. |
Re: Naira Falls Against US Dollar by kenigwe18: 9:21am On Sep 17, 2016 |
Hmmn this is really gettin out of hand |
Re: Naira Falls Against US Dollar by Mavrick2012: 9:22am On Sep 17, 2016 |
modath:Jonathan this, Jonathan that. EXCUSES! EXCUSES!! EXCUSES!!! 1 Like |
Re: Naira Falls Against US Dollar by IBBG(m): 9:26am On Sep 17, 2016 |
if the managers of our economy were doing a great job, the naira is suppose to be atleast at 250 to the dollar. i believe that should have been the true value of the naira, irrespective of oil selling at 46 dollars per barrel. but since we have an incompetent and clueless economic hence the naira is where it is as of now. 1 Like |
Re: Naira Falls Against US Dollar by mafioso47(m): 9:30am On Sep 17, 2016 |
hobermener:They both are obedient to the law of Gravity. 2 Likes |
Re: Naira Falls Against US Dollar by Babysho(m): 9:42am On Sep 17, 2016 |
modath: I've severally written epistles on how our continued reliability on importation has been killing the economy since 1700b.c. We see other developing nations trying to rely on their OWN(no importation) yet Nigeria and it's leaders come together for "economic meetings" without uttering a word on self-reliance. It's annoying and aggravating Nigeria. |
Re: Naira Falls Against US Dollar by Emeonyerichard(m): 9:47am On Sep 17, 2016 |
Oluwabusobomi:I curse the minute dat man was born into dis our dear country.. Imagine |
Re: Naira Falls Against US Dollar by nortcentrallord(m): 10:08am On Sep 17, 2016 |
modath: Who were those who shared the money in ECA account? Weren't you among those cheering Saraki and Ameachi who lead the struggle against the then federal govt. 95% of them changed party and you guys BLINDLY cheered them on. You still cheered Ameachi and co to power in 2015 now you are preaching a Gospel of "patience" You are here ta about problem of "importation" when your car breaks down (that's if you have any) and you buy a spare part three times the normal cost then you won't need common sense to tell you measures are laid down to start production of major resources before you stop importation. I just pity so Nigerians. You can go ahead and block me again. |
Re: Naira Falls Against US Dollar by iamKeo(m): 10:09am On Sep 17, 2016 |
In the other news the sky is blue |
Re: Naira Falls Against US Dollar by d4guy: 10:09am On Sep 17, 2016 |
goldedprince:Boss ave been following your post for a while now, I mean no harm oooo , it seems u re really thriving during this recession .. show some love to a brother !!!! 1 Like |
Re: Naira Falls Against US Dollar by stankezzy: 10:09am On Sep 17, 2016 |
GEJ , by God's grace your enemies don de clap for u
|
Re: Naira Falls Against US Dollar by Reference(m): 10:18am On Sep 17, 2016 |
Flexherbal: It is you that has to rise, not naira. Naira is a non living thing. |
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