F*ck the black market mehn, stupid zoo country....

Biodun556:
God bless Tinubu

God bless Nigeria

smh 4 u

Which shame biko?
Was it not your brother(former CBN governor) , that stole ans sold the dollars to politicians before Tinubu came in?

700 plus flats
3 banks
And the rest and you still want to shame another person for what your brother caused .

You are the real shameless here



quote author=SeverusSnape post=133229592]
Shame no dey catch you!?

A currency that he met at less than 700 is being predicted to come down to 1200 from about 1600, and you're saying God should bless Thie'fnubu.
Zombies are ridiculously shameless.
[/quote]

Anything at all to make his blind supports a little happy, he will do it.
Anyone who is conversant with the Nigerian forex market knows that during December periods like this when the diasporas comes into the country with their dollars, the rate of Dollar to Naira usually drops until when they will be travelling back to their bases abroad around January or February.
Tinubu and his CBN Gov did nothing special, this has been the norm.

OkCornel:
300 naira to the USD is the goal. Nothing less, on Tinubu’s mandate we stand.

Tunder fire Tinubu and that his impotent mandate if he doesn't return things to the way he met it

Sleekfingers:


I think that 1000 naira is still doable. ..

Why it will be difficult for the Naira to reach ₦1000 officially.
Without meaningful reforms and better management of Nigeria's economy, the risk is real. The direction of the exchange rate depends on whether Nigeria can tackle its structural economic challenges effectively.

Diversification of the Economy: Reducing reliance on oil and boosting sectors like agriculture.

Stable Forex Policy: Transparent and consistent policies to manage the supply and demand of foreign currency could strengthen the Naira.

Increased Production: Encouraging local production and reducing imports can help conserve foreign exchange.

Foreign Investment: Attracting significant foreign direct investment (FDI) could bolster the economy.


Do this current government look like they can deliver on the above?

Let's be realistic sir.

Basicend:


You have a good point.

Please note that Tinubu tried to amend the tax structure just recently, but effort has been suspended by the Northern legislature and hierachy.

"Mess in the mining sector", which mining sector? Or you referring to oil bunkery?

If it's bunkery, he would step on the strongholds of the Nigerian military to clean up or stop it. It is actually complicated.

1.Tinubu's tax amendment is just basically rearranging the furniture, not renovating the house. It won't improve tax to gdp at all, and may even lessen it.

Expect more borrowing in the years to come. Rearranging VAT revenue won't bring in enough revenue to the states.

2. It's more than bunkery.

Zamfara, for example, has a lot of armed groups roaming the state...because in 2006, when gold was discovered, no effort was made to regulate the mining and make sure government gets its cut. Instead, everyone and his mama rushed in to do illegal mining. And guess who came in as well...that's right the armed groups. When they are not kidnapping, they are running protection rackets for the illicit mines. (That's how organisations like the Mafia in Italy started, protection rackets for and by farmers that went haywire). Same thing in the bunkering story you mentioned.

NIgeria has a lot of solid minerals, and most of them are being illegally mined, and government is seeing little or no revenue from them. And regulating it is going to be hard because big man and small man are both involved. And then there is the criminal element.

At the end, Nigeria sees less and less revenue. But bringing in regulation means war and a long period of war, and many people will die, and the country would be in chaos before it gets better...sigh. SO, government keeps quiet.

I have said this in this forum alot of times... That Nigerians don't have enough good earning in international firms dat can bring back shiploads not earned profits ....

Now u guyz understand the benefits of foreign investment export.... Govt shld use moral suasion to beg our international firms to bring back their hard earn FX to the Nigerian financial system.... That alone will raise the naira easily....

Biodun556:
God bless Tinubu

God bless Nigeria

Thats why you failed in school. So this is achievement. Poverty consume you

bizbro:


I expect Trump to drill more oil so the oil price may drop further,IMO.

It's not just Trump. America has been self sufficent in crude production for over 10 years now. Obama was pumping more crude when he was around, despite being a 'green man'

And then everyone is discovering oil. Zambia and Uganda had no oil as at 2004. Today, both have discovered oil.

Back to USA...there are large oil reserves in Alaska that are just there. Not tapped. Then there is plenty of oil in the sea.

EV growth may reduce oil usage, but not by much .

Xisnin:

Nope.
It wasn't #700 that was the parallel rate.
The dollar was around #400 officially.

Yes, one of those Emefiele's friend built a $20 billion dollar refinery using exchange rate
that is practically non-existent according to you.
Whatever exchange rate used in running the government's budget is the official regardless
of what black market says.

I hope you haven't forgotten when the Naira fell from 1800 to 900 after the Binance/crypto noise?
You remembered how you and Onanuga celebrated the geniuses who allegedly solved the problem?
Well, it was short-lived as predicted then as this phase would turn out too.

There are very few ways to permanently strengthen the Naira and it does not include threatening
speculators every three months.

Dont mind them, is like Nigerians have selective dimentia,

seems the goal of Tinubu govt is just to score headliners, everytime they celebrate naira is winning it ends in worse yet these people learn nothing


Dip, like we have now is when enemies of Nig or business men find money to buy dollar and keep for overnight profit.

Cant Tinubu govt work and let impact speak @least for once, the whole thing just appears like a vicious cycle

You guys wish. Naira that has started depreciating again. So, you guys really believe this rumour of naira appreciating to 1200 against the dollar? Buhahaha! Keep wishing.

MrDoGood:


Why it will be difficult for the Naira to reach ₦1000 officially.
Without meaningful reforms and better management of Nigeria's economy, the risk is real. The direction of the exchange rate depends on whether Nigeria can tackle its structural economic challenges effectively.

Diversification of the Economy: Reducing reliance on oil and boosting sectors like agriculture.

Stable Forex Policy: Transparent and consistent policies to manage the supply and demand of foreign currency could strengthen the Naira.

Increased Production: Encouraging local production and reducing imports can help conserve foreign exchange.

Foreign Investment: Attracting significant foreign direct investment (FDI) could bolster the economy.


Do this current government look like they can deliver on the above?

Let's be realistic sir.

That was why I said , I think....
Meaning if certain things are critically looked at .
All those things you mentioned are very doable. If the will is there.

OkCornel:
300 naira to the USD is the goal. Nothing less, on Tinubu’s mandate we stand.

If no be sat tinubu dick suckers no get sense like their oga. Why did he say this only to free float the naira in less than a year after uttering that statement.

Una too stupid I swear

LegendHero:


They will need to take it back to $1= N5 naira for me personally to take Tinubu serious.

An angel can't make it happen at that rate. Nigeria politicians benefit massively when our currency is worthless against the dollars.

1.00 US Dollar = 1,563.0556 Nigerian Naira

as seen on XE.com

Obaaderemi2:
Ma That's The question? What's driving the recovery? Maybe our imports have reduced plus the fact that oil production has increased

No what is driving it is the fear that speculators are dumping the dollar, not that production has increased. Our oil production is even short of OEC quota.

StarRiderr:
that's what they made you believed do you know how much this present administration has spent in defense of Naira..

Abi oooo they keep intervening in the FX market to prevent the naira from going beyond 1600

flokii:
Naira will perform well in January, 2025.. with Trump's incoming policies especially on immigrants and citizenship by birth, economies around the world will rebound, no more running away to America.
A lot of Nigerians will return home to settle and invest. Things will change for the better.

Walahi you are a dreamer.

givedemwotowoto:


This You? Are you still stuck on that blind optimism?

So what are you saying exactly? Is it not rising now? You lots thought it would be #2000 to a dollar by last December. Are you still stuck on your blind pessimism?

nairalanda1:


1.Tinubu's tax amendment is just basically rearranging the furniture, not renovating the house. It won't improve tax to gdp at all, and may even lessen it.

Expect more borrowing in the years to come. Rearranging VAT revenue won't bring in enough revenue to the states.

2. It's more than bunkery.

Zamfara, for example, has a lot of armed groups roaming the state...because in 2006, when gold was discovered, no effort was made to regulate the mining and make sure government gets its cut. Instead, everyone and his mama rushed in to do illegal mining. And guess who came in as well...that's right the armed groups. When they are not kidnapping, they are running protection rackets for the illicit mines. (That's how organisations like the Mafia in Italy started, protection rackets for and by farmers that went haywire). Same thing in the bunkering story you mentioned.

NIgeria has a lot of solid minerals, and most of them are being illegally mined, and government is seeing little or no revenue from them. And regulating it is going to be hard because big man and small man are both involved. And then there is the criminal element.

At the end, Nigeria sees less and less revenue. But bringing in regulation means war and a long period of war, and many people will die, and the country would be in chaos before it gets better...sigh. SO, government keeps quiet.

You have good points regarding illegal mining.

But, do you know that out per capital income is currently less than $1.3 per head. Nigerians are one of the poorest in Africa currently. So the only way you can tax such a mix is to shift it to rich, high networth individuals and high income generating companies. That's is what the tax reform tried to address. Which is accurate to our current situation.

Yes, we have many solid minerals. But our greatest deposit and strength lies in oil and gas. We have not maximanized that sector at all. Do you know that Algerian economy relies majorly on gas exportation, and they generate more GDP than Nigeria currently.

Nigeria has the largest gas reserves in Africa and about 4% of total world reserve. Yet, we have not fully shifted our tools to that segment.

We have to tackle corruption, that the main issue, and the ones you rightly mentioned.

I don't think are currently getting any revenue from our crude oil exports due to recent multiple loans by present govt, and if there ramins any, it will be small.

Only way for naira to gain strenght is to expand exportation and strategic taxing like recent bill.

Douglad:



If no be sat tinubu dick suckers no get sense like their oga. Why did he say this only to free float the naira in less than a year after uttering that statement.

Una too stupid I swear

Tell that to Tinubu supporters.

Writing rubbish as usual
Brown envelop journalism and falsehood analysis
.
Shay Dollar that has risen again within 24 hrs of fallen to 1500?
Nigerians go too suffer ehn ..I pity una wey dey believe APC and their media....na una mumu pass.
.
Dollar won't be less than 1800 in January..if u like believe Tinubu propaganda machine

Bazztadewu:
Like for 700 to usd,and share for 200naira to a liter.

Wake up from Sleep, and stop dreaming. Face the reality, less reality face you. That your optimism cannot come to reality

Sleekfingers:


That was why I said , I think....
Meaning if certain things are critically looked at .
All those things you mentioned are very doable. If the will is there.

For now, impossible. Not with this current government

PeterObi4Presid:
Writing rubbish as usual
Brown envelop journalism and falsehood analysis
.
Shay Dollar that has risen again within 24 hrs of fallen to 1500?
Nigerians go too suffer ehn ..I pity una wey dey believe APC and their media....na una mumu pass.
.
Dollar won't be less than 1800 in January..if u like believe Tinubu propaganda machine

Let them belive at their own risk

Na HBP go keeeee Nigeria enemies.
Una go just dey collapse one by each

Ban domicillary account if you are serious about crashing the naira

jmoore:


False!

It was 700+ after Tinubu floated it.

All these liars of APC Timlubuu government should stop quoting me with wrong info.

After CBN floated naira, naira officially started selling at 700+ on CBN website.

Could you get it lower than #700 before he floated it?
At the black market then it was #700. Now there's been a convergence between the rates.
Stop saying what you know little about

Paraman:
Aboki was selling above 700/$ before the arrival of Tinubu

Don't mind the idiots

Biodun556:
God bless Tinubu

God bless Nigeria

Mumu at what price did he meet it. Slave

This is time to acquire some dollars to when it will depreciate as usual to sell. We all know this is artificial naira appreciating.