now please lets help the country as discussed what we think is the problem of naira, please tribal bigot dont derail this thread
evidence will be appreciated

we can solve a problem if we know the origin, i came up with 3 ways which i think the naira has problem

1) tinubu policies: is the recent problem of naira happened because of the president policies
2) ex president buhari inject money to stable our naira(like a subsidy), is it that what we know during buhari is not the real naira, maybe tinubu has remove the inject and we are seeing the true value of naira.
3) some people deliberate hiking this black marker called bureau the change, i mean some people are behind naira devaluation for their selfish interest

It's a case of Stable income from 2.3m barrels of crude oil per day, $400 billion economy

And

A staggering Debt of over #3trillion, with debt servicing taking high percentage of our revenue



.

Per number 3, Dollar is freely traded, why don't people devalue the dollar?

PoliteActivist:
Per number 3, Dollar is freely traded, why don't people devalue the dollar?

Dollar is backed by Gold reserves and Crude Oil

As a matter of fact, higher the crude oil price stronger and bullish Dollar is against all currency

.

Cruise777:




It's a case of Stable income from 2.3m barrels of crude oil per day, $400 billion economy

And

A staggering Debt of over #3trillion, with debt servicing taking high percentage of our revenue



.

paying debt should only affect our development not naira

PoliteActivist:
Per number 3, Dollar is freely traded, why don't people devalue the dollar?

freely traded hmmmm thats a point

Cruise777:


Dollar is backed by Gold reserves and Crude Oil

As a matter of fact, higher the crude oil price stronger and bullish Dollar is against all currency

.

See utter ignorance😅. The dollar is backed by nothing. It stopped being backed by gold in 1972!!

PoliteActivist:


See utter ignorance😅. The dollar is backed by nothing. It stopped being backed by gold in 1972!!

Oya take

8,134 metric tons. Fox knot

Khyrvxjzy:


freely traded hmmmm thats a point

All over the world o. The Chinese are hoarding so much dollar and keep hoarding more as we speak

Cruise777:


Oya take

8,134 metric tons. Fox knot

Meaning what?
Google is your friend below

PoliteActivist:


Meaning what?
Google is your friend below

I qouted Wikipedia page you are qouting Qoura forum

Do you you know Qoura and Reddit are simply forums like Nairaland

PoliteActivist:


See utter ignorance😅. The dollar is backed by nothing. It stopped being backed by gold in 1972!!

Allow this people to say what they know nothing about

Cruise777:


I qouted Wikipedia page you are qouting Qoura forum

Do you you know Qoura and Reddit are simply forums like Nairaland

So produce where ANYONE says dollar is backed by gold

PoliteActivist:


So produce where ANYONE says dollar is backed by gold

https://www.federalreserve.gov/default.htm

That's US Central bank website

Try and educate yourself

Cruise777:


https://www.federalreserve.gov/default.htm

That's US Central bank website

Try and educate yourself

Stop making a fool of yourself. Even elementary school kids know Nixon ended the gold standard in 1972 and US govt officially ended it in 1976. This is age of Google and AI, very easy to find out these things

PoliteActivist:


Stop making a fool of yourself. Even elementary school kids know Nixon ended the gold standard in 1972 and US govt officially ended it in 1976. This is age of Google and AI, very easy to find out these things

You know what you are right...

People who said silence is the best answer for a fool are not joking

Enjoy your day

Cruise777:


You know what you are right...

People who said silence is the best answer for a fool are not joking

Enjoy your day

It's ok to be wrong, but to be wrong about something so well known? Even known by kids. And then be arguing it!😆

Years of mismanagement and corruption are coming home to roost.
An oil producing nation that imports refined crude
A nation of over 200 million people that imports practically everything right down to toothpicks.
A nation that looses a significant amount of its crude output to theft
The Niara is simply reflecting market forces of demand and supply.

Of course years of corruption, mismanagement and lack of sustainable development led to the fall of naira but I also feel it can also work to our benefit.

What are the things we could give to take back for our benefits? Cheap Fuel, food and also adequate electricity for the people living in the country. If we have all these factors plus our good climate, several investors wouldn't mind to come into the country (both local and foreign investors) to enjoy all these factors while building industries and agro industries to produce products to be exported out at such high Dollar rates thereby bringing in so much productivity into the country which will eventually stabilise the naira!

Nigeria should scrape naira and put pounds as the legal tender after all there is nothing beneficial in naira


Even the Biafran pounds is more valuable than naira


If you have Biafran pounds and you're willing to sell , inbox me asap