ShowYourCertificate:
http://leadership.ng/business/447001/naira-dips-to-n2451-as-reserves-rise

docphresh:
One of the people flexing this things are those adsense bloggers paid in dollars by Google..

bixyxx:
you go ask you keyboard na
you can help a broda.

cut007:
people like u are Nigeria's problem. What d young man was saying in essence is dat Daura D. is a complete scam

ShowYourCertificate:
I wonder what Buhari scored in Economics in his WASC.

ReskpetNobleman:
Someone should wake mee up when GEJ takes over

ReskpetNobleman:
Someone should wake mee up when GEJ takes over

Aiziq:

Even WASSCE U cant even spell yet u wonder what buhari scored in "WASC"... SMH u shud wonder wat u scored in English

ShowYourCertificate:
It was called WASC in the 60s. Olodo. All graduates in the 60s where issued WASC Certificate not WASSCE Certificate. Even your Daura President knows this. Check his INEC form, he filled WASC and not WASSCE.

icemann:
The budget was calculated at $60 for oil but currently oil is trading at $ 57 a barrel. It's going to get lower than $57 when Iran sanctions are lifted. It is estimated that oil would drop to around $40 to $45 range by end of this year when Iran's oil hit the market. So by the end of the year i estimate 300 to a $1. SO CONVERT YOUR SAVING TO DOLLARS. Exchange rate has never gone down so you will not lose money.

Look at it this way, imagine an individual earning 100K and later it drops to 60k(40% drop). First the savings gets spent(excess crude account). Cuts would be made on luxury items like Friday night Moet (private jet). Next siblings and girl friend allowance( fuel subsidy) and the list goes on till equilibrium is reached.

Less earnings means less Dollars in circulation(since Nigeria mooches off the govt earnings). So the demand for dollars is high aka high exchange rate. Its more complex than what i explained but its gives you an idea.

To cushion that effect CBN would raise interest rates to around 20% to 30%. This is to cushion inflation and attract foreign bonds

Alternative approach which is riskier is to print money like the US did in 2008. Not a good advice but if it clicks Nigeria would survive this recession.

Stelvin101:
One thing I have come to understand about Nigeria importers is that they are very heartless and wicked, especially the Igbos, that's why am praying an Igbo man should never rule this country (no offence to Igbos, it just my opinion). Now this is my observation, 90% of imported things in Nigeria (electronics and gadgets, household equipment, building materials, office equipment, most clothing, so many things) are imported from China and if I remember correctly the Chinese govt earlier this year part ways with using Dollars as her primary trading currency, instead they now use Chinese yen so to build purchasing power of the yen, though use of dollars in Chinese trade is still very much welcome. so how does dollars rate to Naira concern importers not petroleum importers mind u, these people milk Nigerians at any giving opportunity, they will tag it dat dollars is now high and whereas most of them don't even use dollars in their trade, what they simply do is travel down there and do a wired transaction. I have a friend whose dad import A.C from China, after he analyze everything to me it turns out importers can still make millions if they even sell an A.C (2 horse power for 30k) and a 32 inches Plasma for 20k but greed won't allow an igbo man do the right thing. God save this country cause the problem is just too much for one president to handle

Vikkie14:
Does Mr President even pass Economic in School atall??

Is it until Naira hit #300 a Dollar before he sees the need for Ministers??

barcanista:
Oga, the rise of the Dollar, Euro, pound etc against the Naira has nothing to do with the rise or fall of oil price. It is pure failure of economic managers and policymakers to. Sadly, we have had no Economic Team since May 29 till date. This is pathetic!
What we need is sound fiscal policy and austerity (for now). Infrastructures need to be fixed and local production encouraged especially the manufacturing sector. When we can achieve all these and less import, we will be able to talk business.

barcanista:
When you factor the goods that we consume that are imported, the imported raw materials etc you will know appreciate what increase dollar rate does to our economy. What are things we produce locally? In fact name any consumable goods that we produce locally. What about the effect of high cost of raw materials on the little manfacturing firms still alive, what about the attendant production cost?

Ufranklin92:
una never see anything

docphresh:
One of the people flexing this things are those adsense bloggers paid in dollars by Google..

barcanista:
Even if you learn Yahoo how will that help you? Increase in the dollar against the naira means increase in cost of petroleum products, increase in cost of imported raw materials industries, cost of imported goods increase etc and will affect cost of goods and services in the market. If at N200 per $ the cost of tomato was N25, the same tomato will increase in cost to N30-N35 as a result of the increased dollar against the naira. In fact, the quantity of the tomato will most times be reduced alongside increase in price. Oboy e no favor anybody

Vikkie14:
Did Mr President even pass Economic in School at all??

Is it until Naira hit #300 a Dollar before he sees the need for Ministers??

Olofintoto:
nothing is ever too late. For PMB to become president at 70+, I see no reason why u can't start now.



Oya now I wan learn from up, I get plenty bukata so if I wan learn you go fit teach me job way go fetch 15M first payment?






































I hope u will accept my little piece of advice. Thanks.

Aiziq:

Even WASSCE U cant even spell yet u wonder what buhari scored in "WASC"... SMH u shud wonder wat u scored in English

ajepako:



Guy, I dont mean to meddle in your beef, but the dude did not misspell any word or acronym

ShowYourCertificate:
It was called WASC in the 60s. Olodo. All graduates in the 60s where issued WASC Certificate not WASSCE Certificate. Even your Daura President knows this. Check his INEC form, he filled WASC and not WASSCE.

cut007:
people like u are Nigeria's problem. What d young man was saying in essence is dat Daura D. is a complete scam

onyxo76:
can someone please educate me here...i plan to travel out for few days. With this exchange rate, will it better for me to use my master card to pay for goods and services abroad? will i be charged at the CBN rate or the parallel market? helpful response please .