A few hours ago I wrote here that the fx rate is purely caused by speculation and roundtripping. There is so much arbitrage going on. Some people in their usual way with political undertone abused us.

I mentioned that a sudden policy will crash all this. I hadn't read this news then. It's basic economics that hence we are import dependent economy and if the consistent upward movement of the rates is a true reflection of the economy then the smallest packet of biscuit would not be less than #500. But this isn't the case. Then something artificial is going on.

Watch out for major policy that will shake naira in the first quarter of 2024.

I will keep repeating this: I'm an Igbo and apolitical. President BAT is the best among the three. He inherited so many problems but will not talk because buhari is from APC. The mess started from two years towards the end of Jonathan's regime but buhari rubbed shit everywhere.

@imbless
Bro you are capping nonsense, this nations fx reserve have depleted immensely, no substantial export aside crude oil, companies are pulling out.

even at I &E windows and CBN rate, naira has crashed by 40% since una wicked president was sworn in on 29th may and u are blaming it on round tripping, na who dey deceive una like this?

@me
Your two statements contradict each other and learn to comment without using vulgar language. It's a mark of decency.

This is the way to go. Not citizens that don't pay tax expecting heaven from government. Yes they will tell me that the funds are not judiciously used. Let's play our part first.

Don't mind them. It's all speculative buying. The banks are part of it. If this is reflective of the performance of the economy the smallest packet of biscuit would have been sold above #500.

So much round tripping is going on in the banks. Hopefully just one sudden policy will crash all these.

Very unfortunately some Nigerians announce the increase in dollar rate with glee as if it's blood.

@Burgermotors

First class graduate.

@me
Did you read the thread? Did you understand it? Everyone is just typing rubbish here.

@Iamgrey5

He is saying there's reasonable grounds to dismiss ATIKU'S case.


@me
This statement from the esteemed judge has scattered the case. Atiku is aware that's why he is using social media.

@ezechi242

now you are happy a responsible court that fears the rule of law attended to a case accordingly.....can you say the same with the nonsense you and your fellow agbado slaves have over hear......spits.


@me
Don't point accusing fingers to anyone concerning corruption in this nation. You are part of it, I'm part of it, everyone is part of it. We all are suffering the consequences. It's only when we are not the beneficiary that we complain.

I'm an Igbo like you. We celebrate our people that make money irrespective of how. Anyone that queries it is branded onye ufuobi.

Thank you former president Buhari for your dogged fighting. You have saved the collapse of the economy of this nation.

Shame to former president Jonathan and PDP. This is one of the evils of their past leadership. Atiku wants to become president of Nigeria after selling off all our major assets to his friends. Electricity is worse off after selling it at give away price to his friends.

Congratulations Nigeria!!

@YouandiAllofus

Na where law of vicarious liability hold tinubu. Because na him send buhari. Na him bring am come as president. In short, na him make am president.
And tinubu has boasted about this severally in public before. He can't deny this.

Reno's statement therefore means that tinubu conspired with buhari to ruin the naira and economy!

@me
Vicarious liability ko. Na tinubu vote alone make buhari president. Another party was in government, conducted election and lost to buhari. Na tinubu force millions of Nigerians to in Buhari abi?

@Adolfnigeria
Chairman, he just spent 18,000pounds on school. Of course he will be low on funds.


@me
You didn't understand me. Read again. I paid his bills inclusive of his tuition from naija. He has graduated and on tier 2 visa now.

@Adolfnigeria

Most UK people always lie to the family in Nigeria, about not having money. Dem no wan carry person load for head....

Food used to be cheap in Nigeria, it is not anymore.


@me
I paid his bills and that of his spouse for him to go and do £18,000 tuition Msc engineering program. I'm not a needy parent. So he has no need to cover up. Majority of my discussion time with him is centered on career plan and not what he will give me.

@casualobserver

1). Most of them spend all they earn on mortgage, rent, food, transport, car loan, credit card bills etc.

2). 99% of them will never be able to save $95,000 after 20 years. I can tell you for a fact that 90% of Nigerians in the UK don’t have £20,000 in cash to their name. Most who have net worth have their net worth in their homes because they have been paying mortgage and built equity over time. People say your home is an asset…is it? To get any money from the home you either sell it or you take a loan, so really it is just a psychological asset that in all probability you will never enjoy as it is your children that will inherit it. If you sell it you have to buy another home, or you go from homeowner to tenant. if you take a loan on it or remortgage, you have new debt o. So even Nigerians that have equity in their homes are stuck. 90% of Nigerians in the Uk cannot raise £10,000 without a bank loan or credit card. The system gives with one hand and takes it all with the other.

3. Finally someone on level 16 in Nigeria is likely close to or above 50 yrs old. How can someone who has achieved that status in Nigeria go to the uk to become a security guard? What is the sense in that?


@me
I agree with you completely. My son and his spouse finished their program and live in the UK presently. Exactly 💯 all that you said here is what he usually say to me. Those that are not there will not believe.

@Sheistoopretty
Go girlllllllllllll

Its better than ending up with a B®oke Wr3tched Nigerian man .


@me
She married a ghost. Collect his money and give to the broke guy that will do the work.

Trying to do the do is a sucide mission for this man.

Racoon
Where will the budgetary provision comes from? Guess they will not tell us they want to borrow another stash of billions again to loot because of this undertaking?


@me
One of the benefits of removal of subsidy. The savings is there. We advised you rather than be living fake life and infrastructure deteriorate, remove the bloody subsidy and rechannel the savings to capital formation items.

@InfinityFabric

It's an attack on National Security to compare to VIRGINS to (part-time) HOES.


@me
Attack on national security . This guy wants to kill me with laughter. When did virgins become national guardian angels 😇?

Tell me: who doesn't like a smooth expressway? No obstructions!!

Those that kept asking where are the savings from subsidy removal. All these payments are some of them.

@Kukutente23
Does this mean they are to forfeit the remaining four months?


@me
They had lost the eighth months already. The president showed mercy and paid 4 months with a warning. They will be happy.

@opera1
Appointment just dey flow here and there.


@me
Wouldn't he set up his regime? This is normal thing done by all regimes. It's just that back then you couldn't afford newspapers but today you could afford news through free data.

@Varunpulyani

Bola will leave Nigeria with dollar at 3000/$ by then on ya mandate standers go carry chair

Sidon

Chair is called joko, joko must trend for Twitter.

Cone head must allow sense flow.


@me
Nigeria's economic problem didn't start today. It has nothing to do with whosoever that is in power now. Infact if anyone that occupies the president's position now is not good and strong the economy will be worse.

We are suffering today the effects of so many years of pervasive corruption and inept leadership. We have been rolling the evil days and finally it has caught up with us.

You only consume but you don't produce. Your only source of foreign exchange is crude oil. Its production has reduced and the international rate is low. Where will your foreign exchange come to fund your consumption?

Your population is ballooning. Look at this data: annual crude oil barrel per person:

Nigeria 2.3 barrel
Saudi Arabia 91.4 barrel
Kuwait 221.6 barrel
Gabon 31.7 barrel.

Kuwait and Saudi that have reasonably diversified still have the above figure. But Nigeria that solely depends on oil income has that low figure. Worst of all we import all petroleum products.

Can you see that the figures have shown that we are very poor. Maintaining an artificial exchange rate is self-deceit. It's better to face reality.

@Marynwachukwu21

That means if you marry a virgin, you'll allow another man do the job for you right.


@me
There is no need to marry one. Just marry the one that the door 🚪 has already opened. The hard work has been done already.

@BigYash

1per day. And if u fvck,romance ontop the boxer. You suppose change to new one,after fvck.. ..


@me
See how all these things you wrote dey sweet for your mouth 👄.

@Marynwachukwu21

I love your quote👍,please loud it because I really don't know maybe they fried their brain under the sun🌞.


@me
A lot of ok boxers last longer and look better than Aba made. It's called street sense.

@Marynwachukwu21

I've been asking people same questions but they seems to prefer used girls than the untouched ones due to they are not perfect or rather they are wicked.



@me
Virgin Mary listen. Overstayed virgin is like a hard big dry firewood. A lot of sweat is required to break it. A lot of guys will rather allow another guy to do the hard job for them.

Virgins are usually naive in bedmatics. They require a lot of schooling and brush up to be done. Who get time. Etc etc.

Funny 🤣 people all of you especially lady Jeon.

@God1000
Nigeria under tinubu is in topsy turvy and complete retroversion.

His policies are hurting everyone, I don't know where we're headed.

@me
Read what experts are saying here. For once you guys should be less myopic. It's not a tinubu issue. Long standing Nigerian problem and global issue.

The accumulation that they are clearing now, who accumulated them? This is one of the issues that put so much pressure on the exchange rate. We need to be open minded so that we can blame when there is need to blame.

@Gajagojo
For one hour's work as an Orthopaedic surgeon in the UK you can earn £200
working in a modern hospital with the latest equipment
Now even there they are going on strike asking for more but compared to Nigeria it is heaven
The same UK where Ekweremadu is doing time

Why then would anyone even bother to stay and fight a battle that is more than 40 years old.

@me
You guys like quoting abroad and what is enjoyed there to intimidate. Some of us either have worked, are working or have persons that are work abroad. For every £ that you are paid you sure must earn it. No pp. No truancy. Unlike here that civil servants behave anyhow and full of laxity. A medical doctor could be answering private call unmindful whether someone is dying or not. He could make silly errors that cost lives and get away with it. He can't try this abroad.

@Gajagojo
Not doctors

How many doctors are left working for government in Nigeria

I honestly don't think Nigerians grasp the scale of the problem

I cannot trust my life to the hands of any doctor in Nigeria simply because I do not believe any quality doctor is left in the country and I am sure, very sure that Wike is the same
Any doctor still in Nigeria is there because he cannot pass exams to work abroad or is in the process of taking the exams.
No doctor under the age of 30 is planning to stay in the country to practise medicine.

@me
But he got cheap training from Nigeria. When legislatures wanted to introduce law to bond them they shouted. If you can't sacrifice for Nigeria why enjoy her cheap training? Travel to where you want to travel spend your money to train in those countries and it will be fair to practice anywhere you want.

You are here shouting over a naira that has all these years been overvalued. The over valuation has been supporting your consumption economy and importation business.

The good side is that it will stop the importation mentality. I have been calling my relatives and friends abroad that this is the right time to invest in Nigeria. Just a few dollars and they could own a prime property that the value can sure triple in few years. They could invest in bluechip companies on the stock exchange with few dollars.

Every event is an opportunity for smart and discerning investor. The ordinary people will spend endless time complaining.

@pendusky
Jesu...

So, someone actually in 2014 advised me to buy dollars and store... that if Buhari win dollar will double...

I didn't want to take that risk, Buhari that was promising us 1N/$, then in GEJ era it was 180-190/$ that's about N18k/100$

The guy took loan, buy more than 5,000 dollars and store in his account...

Last time I heard from the guy, he was on his way out of the country.

If you have money, buy dollar and store, in 2years, dollar will reach N3,000/$


@me
Can you see yourself? People like you are part of the problem. The high cost of dollar is not a true value of naira. It is mainly caused by speculation. Rather than hedge with fixed assets you are thinking about hedging with liquid asset. It could backfire. Just one event and your world comes crashing.

I have said it time and time again. Every economic challenge has hidden benefits in it. The complainants will be on the internet complaining.

Every part of Aba is filled with tailors and shoemakers. Before now it was imported dresses with foreign brands. Today majority of our dresses are made locally.

I'm not saying that there are no challenges. Quoting exchange 💱 everyday on the net as a way of abusing the government will not help anyone's life.

The Ghanaians made a fortune selling alomo bitters. Is it not ogogoro with herbs added? Can't we produce this and send to other African countries?

Please no strength for political arguments.

This is a big milk factory. No need importing milk. Operation feed the nation.

This is great deliverance. You better go to church and do thanksgiving