₦airaland Forum

Primebuilders:
Which one is BDC rate and parallel market rate and black market rate. I tot is official rate (bank rate) and black market rate

DollarAngel:
USELESS COUNTRY, GIANT OF AFRICA, WITHOUT STABLE ELECTRICITY, NATIONAL AIRPORT, OR GOOD RAILWAY SYSTEM, NIGERIA IS AN UNFORTUNATE COUNTRY

9japrof:
I was among those that criticised the move by the C.B.N to pump dollars into the market.

Looks like the intended objectives is working, if what it takes to bring the naira/dollar rates low means pumping dollars into the market so be it.

Please let it not be one step forward, three steps backward....

greenermodels:
(1)the rate is still very high, we won't notice any significant fall in the prices of imported goods until it hits atleast #210, even that is higher than the rate Buhari met it.
(2)long-term defense of the currency is frowned at by all economics, proper economic policies is needed and we really don't have any in implementation right now.

john1035:
The worst exchange rate policy is what we practise. we can never move forward like this

Ngasky:
Good development.
When the current government devalued naira I thought they are making a grave mistake, but thank God I was proven wrong.
The rallying of naira is in the interest of Nigeria. And from the way things are going when the dangote's refinery started production the dollar will fall to below 300 or even possibly below 200. Because the major drain on dollar exchange in Nigeria is petroleum and petro allied products. So we won't spend dollars on them anymore, the demand will fall.
Also with time the refinery will produce excess to sell to neighboring countries or even to southern American markets thereby earning more dollars to Nigerian central bank.
Another good initiative policy is the made in Nigeria policy, now with the homegrown rice production it will further reduce the demand for foreign currency, all in all the two most foreign currency demand commodity will no longer need dollars so we should only use dollars for machinery and parts.
From the foregoing Nigeria will be great it is just a matter of consistency and determination by the successive governments.
Long live FEDERAL REPUBLIC OF NIGERIA

rexlims:
THIS IS SHORT TERM, HAVE U CONSIDERED THE LONG TERM EFFECT OF THIS POLICY?
IF U CAN ANSWER THIS QUESTIONS, THEN YOU SEE WHAT I AM TRYING TO SAY
1. DO NIGERIA AS A COUNTRY PRINT DOLLAR NOTES?
2. HOW IS OUR TRADE BALANCE?
3. HOW MUCH DO WE HAVE AS FOREIGN RESERVE?
4. ARE WE INVESTING ON CAPITAL PROJECTS OR CONSUMER GOODS?

THE LIST IS ENDLESS.

Ngasky:
Good development.
When the current government devalued naira I thought they are making a grave mistake, but thank God I was proven wrong.
The rallying of naira is in the interest of Nigeria. And from the way things are going when the dangote's refinery started production the dollar will fall to below 300 or even possibly below 200. Because the major drain on dollar exchange in Nigeria is petroleum and petro allied products. So we won't spend dollars on them anymore, the demand will fall.
Also with time the refinery will produce excess to sell to neighboring countries or even to southern American markets thereby earning more dollars to Nigerian central bank.
Another good initiative policy is the made in Nigeria policy, now with the homegrown rice production it will further reduce the demand for foreign currency, all in all the two most foreign currency demand commodity will no longer need dollars so we should only use dollars for machinery and parts.
From the foregoing Nigeria will be great it is just a matter of consistency and determination by the successive governments.
Long live FEDERAL REPUBLIC OF NIGERIA

Hillarie:
N1 =$1 soon..

Am I wrong for trying to reach the things that I can't see?

Ngasky:
Good development.
When the current government devalued naira I thought they are making a grave mistake, but thank God I was proven wrong.
The rallying of naira is in the interest of Nigeria. And from the way things are going when the dangote's refinery started production the dollar will fall to below 300 or even possibly below 200. Because the major drain on dollar exchange in Nigeria is petroleum and petro allied products. So we won't spend dollars on them anymore, the demand will fall.
Also with time the refinery will produce excess to sell to neighboring countries or even to southern American markets thereby earning more dollars to Nigerian central bank.
Another good initiative policy is the made in Nigeria policy, now with the homegrown rice production it will further reduce the demand for foreign currency, all in all the two most foreign currency demand commodity will no longer need dollars so we should only use dollars for machinery and parts.
From the foregoing Nigeria will be great it is just a matter of consistency and determination by the successive governments.
Long live FEDERAL REPUBLIC OF NIGERIA

Primebuilders:
Which one is BDC rate and parallel market rate and black market rate. I tot is official rate (bank rate) and black market rate

Ngasky:
Good development.
When the current government devalued naira I thought they are making a grave mistake, but thank God I was proven wrong.
The rallying of naira is in the interest of Nigeria. And from the way things are going when the dangote's refinery started production the dollar will fall to below 300 or even possibly below 200. Because the major drain on dollar exchange in Nigeria is petroleum and petro allied products. So we won't spend dollars on them anymore, the demand will fall.
Also with time the refinery will produce excess to sell to neighboring countries or even to southern American markets thereby earning more dollars to Nigerian central bank.
Another good initiative policy is the made in Nigeria policy, now with the homegrown rice production it will further reduce the demand for foreign currency, all in all the two most foreign currency demand commodity will no longer need dollars so we should only use dollars for machinery and parts.
From the foregoing Nigeria will be great it is just a matter of consistency and determination by the successive governments.
Long live FEDERAL REPUBLIC OF NIGERIA

seguno2:
No, you are not wrong.
One needs an overdose of faith to believe in change that is packaged and sold by confirmed and certified fraudulently corrupt people in APC.
Do you have it- overdose of faith?

Ngasky:
Good development.
When the current government devalued naira I thought they are making a grave mistake, but thank God I was proven wrong.
The rallying of naira is in the interest of Nigeria. And from the way things are going when the dangote's refinery started production the dollar will fall to below 300 or even possibly below 200. Because the major drain on dollar exchange in Nigeria is petroleum and petro allied products. So we won't spend dollars on them anymore, the demand will fall.
Also with time the refinery will produce excess to sell to neighboring countries or even to southern American markets thereby earning more dollars to Nigerian central bank.
Another good initiative policy is the made in Nigeria policy, now with the homegrown rice production it will further reduce the demand for foreign currency, all in all the two most foreign currency demand commodity will no longer need dollars so we should only use dollars for machinery and parts.
From the foregoing Nigeria will be great it is just a matter of consistency and determination by the successive governments.
Long live FEDERAL REPUBLIC OF NIGERIA

greenermodels:
(1)the rate is still very high, we won't notice any significant fall in the prices of imported goods until it hits atleast #210, even that is higher than the rate Buhari met it.
(2)long-term defense of the currency is frowned at by all economics, proper economic policies is needed and we really don't have any in implementation right now.

Benjom:
It can only get better

What happens in the coming days will prove the effectiveness of this new infamous measure though.
.

Ngasky:
Good development.
When the current government devalued naira I thought they are making a grave mistake, but thank God I was proven wrong.
The rallying of naira is in the interest of Nigeria. And from the way things are going when the dangote's refinery started production the dollar will fall to below 300 or even possibly below 200. Because the major drain on dollar exchange in Nigeria is petroleum and petro allied products. So we won't spend dollars on them anymore, the demand will fall.
Also with time the refinery will produce excess to sell to neighboring countries or even to southern American markets thereby earning more dollars to Nigerian central bank.
Another good initiative policy is the made in Nigeria policy, now with the homegrown rice production it will further reduce the demand for foreign currency, all in all the two most foreign currency demand commodity will no longer need dollars so we should only use dollars for machinery and parts.
From the foregoing Nigeria will be great it is just a matter of consistency and determination by the successive governments.
Long live FEDERAL REPUBLIC OF NIGERIA

john1035:
The worst exchange rate policy is what we practise. we can never move forward like this

oyienootieno:
Forget Dangote abeg. He has never made anything competitive including Sugar, Salt and Cement.

erico2k2:
The only 2day out of this hole is when we stop pegging dollars to Oil .
Do you think petrol and oil marketer give a damn about forex ? Have you ever hear them complain by any media About forex shortage ?

NwaAmaikpe:


Naija's FX is just like women...

Very difficult to understand or predict

greenermodels:
(1)the rate is still very high, we won't notice any significant fall in the prices of imported goods until it hits atleast #210, even that is higher than the rate Buhari met it.
(2)long-term defense of the currency is frowned at by all economics, proper economic policies is needed and we really don't have any in implementation right now.

Okuda:
this is what you are hoping for. when the world is moving to electric powered vehicles, Solar and Biogas. I pity Nigeria.

natznext:
E easy to just type am oo, you need start to fast to experience am oo, nothing is normal/Logical here oo