MallamChukwudi:
Most people abroad are NOT happy about the exchange state or broadly, the state of things in Nigeria. This is not correct. People abroad feel it the most.

They are the ones family members back home depends upon, and even extended family members.

They are the one who desperately wanted to return back home, but the insecurity, cost of living and no viable source of income makes them remain in countries otherwise, they won't want to be in any longer.

Besides, even if naira falls to 1k per usd, it doesn't mean pure water will remain five naira, cost of living goes up as well, even triple, afterall. Naira gets expensive as it falls.

They may not be happy about “the state of things in Nigeria” but they’re definitely happier about the exchange rate…
First, they are many FIXED Naira obligations, and even when prices trend upwards it lags behind the exchange rate depreciation.
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Shocking

meeketta:
In PMB's voice:
"1 naira will be equal to 1$ when i become the president of Nigeria" .

He will still do it

And this is despite the fact that the knuckle head in CBN just hiked interest rate to how much again?

You people will regret the day they elected that dumb man president.

So Some One With Their $3 (like #3) will Have Like 2000 plus in This Country. Kai.
Apc really Came To Steal, kill And Destroy the Country

2012. #1000 = 3000cfa
2022. #1000=950cfa


From top to bottom.

And people are still supporting APC

guobe:
yes I have a lot of people abroad happy with the situation but 90 percent of Nigerians abroad are stingy.shishi they won't send to you.Dont depend on them

most of dem dey wash toilet, bath dead body and other jobs you probably would not do..and you are here expecting dem to send you money..

You better pray make God crown your effort too and stop feeling unnecessarily entitled

marenkurz:
That is not true. Any Patriotic leader would need 16 years to undo the damage that has been done. Don't get me wrong, Buhari is useless. However, Obi can't do anything meaningful in four years. The best he could do is to remove subsidy, which means more inflation. Considering Nigeria is already borrowing to service debt, I don't see anybody including Obi doing any magic. Nigerians are fu#ked

Absolutely NOT true! While there are admittedly some long-term fixes required (education, for starters)…
But the Nigerian economy can be turned around in a relatively short period (even with other fundamental issues outstanding).

In fact, things like the exchange rate are the EASIEST to “fix”. Ghana did it by simply loping three 000s of the cedi…
The more fundamental issue is economic PRODUCTIVITY, but simply doubling ELECTRICITY output will have a GEOMETRIC impact on output.
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PS: I am not necessarily saying that Peter Obi could do so.
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masui:



Bro you are very correct. I get them plenty, I don kukuma zero mind fit their side. Very stringy set of l
people.

lol you know them well.na to come naijade carry olosho de pay 30k per night dem sabi even married ones among them. THEY BE LIKE FOG LET LOOSE.

Antimarraige:
Make they kuku sell the useless country.
I see a revolution happening soon, killings of rich politicians and their families will start soon

keep decieving urself

yesloaded:


Do you mean your bank will not give you raw dollar in cash?

I have not asked them but it might be hard because the bankers said there is a shortage of dollar bills.

RapistOnBail:

Withdraw the $and go to aboki and change ur dollar. No ever change dollar for bank. They go Rip you

I don't think they may give me dollar, but I will try and ask them later

beautyhd:
If you have someone that sends dollars to you once in a while, call them and thank them.

Most buildings under construction in Nigeria are done by people abroad.

Most people abroad I know are happy with the current state of naira.

The effect of this is killing and frustrating home based Nigerians.

10k can’t comfortably feed a family of 3 for 3 days

Weakness of Naira does not pay anyone, even if you are living abroad. Money is measured in value and once Naira is losing value against the dollars, its value is eroded. Those abroad will use 100 USD to buy an item that is normally worth 10USD. Even you that put your Naira in your account without buying or selling anything too will also be affected, your money is dropping in values.

Inflation cuts across the spectrum

9jaRealist:


Perhaps when General Buhari promised the exchange rate will be 1-to-1, he forgot to add 000…

Nigerians looking for “changi” have only themselves to blame…
Some of us forewarned that change is NOT synonymous with progress, but got drowned out by “Sai Baba” chants! SMH
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You garrit my brother.

Prosper123:
I have not asked them but it might be hard because the bankers said there is a shortage of dollar bills.

yesloaded:
Do you mean your bank will not give you raw dollar in cash?

If you have a domiciliary account, you get your money in dollars…
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Acidosis:


Are you sure you receive dollars? No bank will pay you in Naira for a dollar transaction in the first place.

Yes. I do receive dollar.. But I transfer to the person at 500 naira. But I think I need to increase it. But I don't think the bank may give me raw dollar because of its shortage

guobe:
Abroad people are not dependable just leave them and concentrate on your hustle.

I have a lot of them abroad,.when you even chat them they feels you want to tax them even while am holding wall, repossibilty all for them out here,..my guy are choose to be a hustler instead of depending on someone abroad,.I keep praying for them anyway.

APC and Buhari has befall Nigeria. Ever since APC and buhari emerge. Nothing good has ever come to Nigeria. Who did we offend o

MT:
Weakness of Naira does not pay anyone, even if you are living abroad. Money is measured in value and once Naira is losing value against the dollars, its value is eroded. Those abroad will use 100 USD to buy an item that is normally worth 10USD. Even you that put your Naira in your account without buying or selling anything too will also be affected, your money is dropping in values.

Inflation cuts across the spectrum

Not true, there are many FIXED expenses and obligations in Naira for folks living abroad…
And even when Naira prices trend upwards, they mostly LAG way behind Naira depreciation rates.
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9jaRealist:



If you have a domiciliary account, you get your money in dollars…
>

I don't think I understood, but yes I have dollar account and naira account. A person connected me to another that I send the money to and he buys it at 500 naira

beautyhd:
If you have someone that sends dollars to you once in a while, call them and thank them.

Most buildings under construction in Nigeria are done by people abroad.

Most people abroad I know are happy with the current state of naira.

The effect of this is killing and frustrating home based Nigerians.
10k can’t comfortably feed a family of 3 for 3 days

walihi the thing dey sweet me like sugarcane

9jaRealist:


Not true, there are many FIXED expenses and obligations in Naira…
And even when Naira prices trend upwards, they mostly LAG way behind Naira depreciation rates.
>

Everyone benefits from "Fixed" expenses, not only people abroad. Those items with variables costs affect everyone. Everyone spends more when economy tanks.

beautyhd:
If you have someone that sends dollars to you once in a while, call them and thank them.

Most buildings under construction in Nigeria are done by people abroad.

Most people abroad I know are happy with the current state of naira.

The effect of this is killing and frustrating home based Nigerians.

10k can’t comfortably feed a family of 3 for 3 days

Exactly!
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Artificial scarcity to create wealth, the politicians are cashing out on this for 2023 elections, the civil servant are doing the same, after bubu would come out and blame the Ukrainian crisis as the reason for the unstable naira

Make they kuku sell the useless country.I see a revolution happening soon, killings of rich politicians and their families will start soonMake they kuku sell the useless country.I see a revolution happening soon, killings of rich politicians and their families will start soon...

MT:
Everyone benefits from "Fixed" expenses, not only people abroad. Those items with variables costs affect everyone. Everyone spends more when economy tanks.

As the Naira depreciates against the dollar…
Fixed Naira obligations for people abroad becomes CHEAPER, and thus they benefit MORE!
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Most useless country in the world, ordinary Benin Republic currency is high than naira, shit hole country!!!

guobe:
Nigerian politicians have finished the country.God will never forgive them for their evil deeds.

And their blinded followers.

APC is a calamity… what is the one thing they can even say they are proud of ? Everything just getting worse .


You people should think well come 2023 o

mojoyin73585:
Make they kuku sell the useless country.I see a revolution happening soon, killings of rich politicians and their families will start soonMake they kuku sell the useless country.I see a revolution happening soon, killings of rich politicians and their families will start soon...

And those “revolutionary” Nigerians will become rich and the cycle continues…
The “militant” leaders of the Niger Delta (Tom Ateke, Tompolo, etc.) have all become wealthy from their “militancy”!
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9jaRealist:


As the Naira depreciates against the dollar…
Fixed Naira obligations for people abroad becomes CHEAPER, and thus they benefit MORE!
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You keep making mistake because you are more fixated on the exchange rate. Mention one fixed Naira obligation you are referring to, then we can have a proper discussion.

You cannot immune yourself from the effect of inflation if you are converting from foreign currency to the same currency that is losing value. That is a simple economics.