NAIRA marley caused it.. the more mohbad is trending, the more Naira go down

$1to N1 was APC's campaign promise in 2015.

UnknownT:
You rushed and devalued the Naira without the attendant indices to make it stable at that price. You never made any attempt to increase our export but you rushed and removed the peg. Same way you rushed to remove subsidy instead of first tackling the corruption in the subsidy regime to get the accurate number of liters we consume daily.
These 2 acts are just to show how lazy and wicked our leaders can be. Because it is only a lazy and wicked person seeking for an easy way out will carry such actions without thinking about the adverse effect they will have on its citizens

We @ Mannequin grillers know that our darling daddy is leading us to he path of destruction.....
God bless our darling daddy
God bless our darling mummy
God bless our past Sai Daddy
God bless our past beautiful Mummy

Great is Nigeria , anybody wishing Nigeria bad will..........lols

Make I talk like one of us here abeg.....

No be only Naira, the whole country dey tumble

Kaycee9242:
See where hitting the ground running landed us, so Buhari is far better than this man

Which buhari



Haba be intuitive na

The only way out is for the dangote refinery to be fully operational. 60 percent of our Forex demand is for crude oil. Once that is taken care of internally, the demand for dollar will fall.
I'm writing this based on the assumption dangote refinery will not source for its crude oil form overseas.
If it's within Nigeria, he can easily pay in naira at whatever equivalent rate of crude oil price in dollars.

Anything apart from above is simply a wild goose chase. Dollar will hit 2000 naira and there's nothing the govt can do about it.

tinubu open border let have flood of food


Naira can't go down

We have pass the stage of dollars going down, even US will not agree

israelmao:
$1to N1 was APC's campaign promise in 2015.

Campaign is over.....let the corruption , Tribalism, Nepotism and all manners of renewed hopes in Shege continue for them anyway...
Cheers !!!! To a brighter life if you knew about them and warned others...

OkCornel:
Well…we gotta cut down imports and be more productive as a nation.

We got no business importing fuel, wheat, rice, palm oil, stock fish, steel and steel related products, rubber etc

Our government has failed.

My hatred for past and governing politicians is driving me crazy

No single thing to write home about this country.

I don’t know if the uk and us they run to has become a curse that they cannot do the same over here.

Why Nigeria why?

Nazgul:
I want to ask...

Aside crude oil, what else does Nigeria export. Cos the way our naira is diving downwards, it's almost as if we export nothing.

Why can't Tinubu diversify the economy. Shebi they said gold is in zamfara, why not export it in large quantity and get forex?

We have tons of agricultural raw materials the world needs, like Cocoa, cashew, cotton, millet, rubber...etc.

What's with the absolute dependence on crude oil, why not invest in agriculture and export these raw materials to countries that need them?

We use to export our presidents because they're fond of jetting out of the country

TemplarLandry:

No song to dedicate to the tumbling Naira!

No Obi to abuse!

Nothing to comment on at all!

Ever wondered if your president has run out of ideas?

Why even rush to the front page when you have nothing to comment?

Are you this jobless?

O ya mi leru O!

festacman:
Mr. President,
- Focusing on taxation without any clear plan to boost the productive capacities of existing businesses as well as create enabling environment for new businesses to create jobs is antithesis of economic growth. No economy grows on taxation alone.

- Leave the pursuit of FDIs for now. Come home and rebuild the building blocks of the economy.

- Quit wooing UAE like a beautiful bride. Come home and focus on wooing local investors to invest in sundry areas of the economy.

- Forget the beautiful speech at UNGA. Come home and give beautiful economic roadmap.

- Forget ringing bell at NASDAQ stock market. Come home to ring the bell of local industries and SMEs by carefully packed incentives and ease of doing business initiatives.

- Run back back home and roll out your all-encompassing economic plan to revitalize the economy as contained in your manifesto.

- Quit chasing shadows. Go after the substance for time is running out.

- There is fire on mountain at home. Run home and quench it, my president.

Am happy that you called him your president and not our President.

In Nigeria, the public sector monthly minimum wage was ₦18 (or $25) in 1970, and by 2023, it had been raised to N30,000.

Note : $25 in 1970 is equivalent in purchasing power to about $197.83 (₦150,000) today in 2023.

But alas Nigeria current min wage which is ₦30,000 right now is just less than $35!

Indonesia whose currency is far weaker than Naira ($1=15,400 rupiahs) has an average minimum wage of IDR3,388,660.00 Which is $220.


Nawao

995 today.

APC in eight years brought this country to its knees. The desperado who wanted the Presidency by all means, brought one baba back, who was tending to his cows in his village. They hounded GEJ out of office and took over. They claimed to know all, deceiving their bewitched and easily gullible supporters. Now every morning, all we hear are stories of hardship piling on their same bewitched supporters. Notice that they have not made one single comment for days, concerning the very glaring failure of their principal.

Na here everybody dey.

post=125941003:
Nawa o

Mr bad news ,you should tell the world of this disaster known as tilumubu ,.....its worse than covid .

I hate to say this, but I think that buhari's administration is better than this one in just 4 months, it will never be well with INEC, if they truely rigged this election, and are now putting the masses in perpetual hardship.

VeeVeeMyLuv:


But alas Nigeria current min wage which is ₦30,000 right now is just less than $35

Indonesia whose currency is far weaker than Naira ($1=15,400 rupiahs) has an average minimum wage of IDR3,388,660.00 Which is $220.


Nawao

Hmmmm!

Nigeria is really heading in the path of doom under BAT. I just don't know how our currency has become so valueless like this. This is really terrible and alarming.
ƁAT is busy gallivanting on foreign trips seeking for fairytale FDI while our local economy is dying. You are able to attract foreign investors when your economy is sound. Which investor is coming to invest in a dead economy?
Politics has ruined Nigeria and yet our politicians in their devilish and selfish interest don't want to learn or repent.

TemplarLandry:

Thiefnubus confused

Freelancers are smiling at the bank

festacman:
Mr. President,
- Focusing on taxation without any clear plan to boost the productive capacities of existing businesses as well as create enabling environment for new businesses to create jobs is antithesis of economic growth. No economy grows on taxation alone.

- Leave the pursuit of FDIs for now. Come home and rebuild the building blocks of the economy.

- Quit wooing UAE like a beautiful bride. Come home and focus on wooing local investors to invest in sundry areas of the economy.

- Forget the beautiful speech at UNGA. Come home and give beautiful economic roadmap.

- Forget ringing bell at NASDAQ stock market. Come home to ring the bell of local industries and SMEs by carefully packed incentives and ease of doing business initiatives.

- Run back back home and roll out your all-encompassing economic plan to revitalize the economy as contained in your manifesto.

- Quit chasing shadows. Go after the substance for time is running out.

- There is fire on mountain at home. Run home and quench it, my president.

Taxation is important but you're exaggerating things here. The present government has plans to prune the number of taxes present in the country from 52 to 10. So, I

In today's world, you don't go far without globalization. The reason why the Naira is tumbling is due to a lack of dollars.

Foreign investment is a must considering that cost of credit (loans) is quite dear and even scarce. Soludo said that foreign investment amounting to 5% of GDP yearly for 5 years consecutively would lead to the economy overheating.

It is absolutely needed for him to drum up investment into the country. That doesn't mean he is ignoring the troubles at home. The "removal" of the fuel subsidy and attempt to unify rates are far reaching actions to indicate he isn't ignoring the local economy.

For instance, NDDC is planning to build 9 industrial estates in the states it covers.

Also, Buhari chased away many foreign investors from the country, Shoprite being the foremost example. These foreign multinationals contribute massively to the economy.

The challenges on ground are huge. Lamido Sanusi alleged that the CBN under Emefiele printed 22 trillion Naira. This alone is scary.


Tinubu does not have to run everything. That is why he has an economic team.

AMI3:


Exactly, they taught Nigerians how to insult their leaders.

They play politics with the life of innocent Nigerians.

According to some guys Karma is a bitch. He had meant well for GEJ to succeed he will succeed but if he didn't. My brother we need to pray hard because there are people who are loyal to the ex president and most of them may not like BAT.

They will do everything to make sure he fail

that is interesting. so the failure of the president to do his job while he is travelling the world for photo ops is "because there are people who are loyal to the ex president and most of them may not like BAT"?

is it those same people that are responsible for the dollar rising and inflation?

Nazgul:
I want to ask...

Aside crude oil, what else does Nigeria export. Cos the way our naira is diving downwards, it's almost as if we export nothing.

Why can't Tinubu diversify the economy. Shebi they said gold is in zamfara, why not export it in large quantity and get forex?

We have tons of agricultural raw materials the world needs, like Cocoa, cashew, cotton, millet, rubber...etc.

What's with the absolute dependence on crude oil, why not invest in agriculture and export these raw materials to countries that need them?

you export what you have in abundance, Nigeria cannot feed Nigerians with her Agricultural produce, exportation on the other hand is very expensive in Nigeria as you would incur serious loss exporting your product.

grandstar:


Taxation is important but you're exaggerating things here. The present government has plans to prune the number of taxes present in the country from 52 to 10. So, I

In today's world, you don't go far without globalization. The reason why the Naira is tumbling is due to a lack of dollars.

Foreign investment is a must considering that cost of credit (loans) is quite dear and even scarce. Soludo said that foreign investment amounting to 5% of GDP yearly for 5 years consecutively would lead to the economy overheating.

It is absolutely needed for him to drum up investment into the country. That doesn't mean he is ignoring the troubles at home. The "removal" of the fuel subsidy and attempt to unify rates are far reaching actions to indicate he isn't ignoring the local economy.

For instance, NNDC is planning to build 9 industrial estates in the states it covers.

Also, Buhari chased away many foreign investors from the country, Shoprite being the foremost example. These foreign multinationals contribute massively to the economy.

The challenges on ground are huge. Lamido Sanusi alleged that the CBN under Emefiele printed 22 trillion Naira. This alone is scary.


Tinubu does not have to run everything. That is why he has an economic team.

how many taxes has Tinubu reduced from 52 to 10?

why is the naira tumbling due to lack of dollars? why is there no dollars?

does Tinubu need to "drum up investment into the country" before the investment will come? is that how investment comes into a country?

since he did all the "drumming", which investment has come?

what benefits has accrued to Nigerians since the "removal" of fuel subsidy and the unification of the exchange rates?

pls what is "NNDC"?

which plan are they planning? what stage of their plan are they in right now?

you said "Buhari chased away many foreign investors from the country" and it is only shoprite you could mention.

by the way, didnt you support buhari for 8years?

AMI3:


Exactly, they taught Nigerians how to insult their leaders.

They play politics with the life of innocent Nigerians.

According to some guys Karma is a bitch. He had meant well for GEJ to succeed he will succeed but if he didn't. My brother we need to pray hard because there are people who are loyal to the ex president and most of them may not like BAT.

They will do everything to make sure he fail

True.

SIRTee15:
The only way out is for the dangote refinery to be fully operational. 60 percent of our Forex demand is for crude oil. Once that is taken care of internally, the demand for dollar will fall.
I'm writing this based on the assumption dangote refinery will not source for its crude oil form overseas.
If it's within Nigeria, he can easily pay in naira at whatever equivalent rate of crude oil price in dollars.
Anything apart from above is simply a wild goose chase. Dollar will hit 2000 naira and there's nothing the govt can do about it.

Even if dangote refinery is fully operational and buys crude from nigeria, difference won't be much--- cos we would be losing d fx sales from d crudeoil he buys..

Kaycee9242:
See where hitting the ground running landed us, so Buhari is far better than this man

Buhari and his Fulani bros will be dancing by now

This shit will definitely reach 1k by next month

SIRTee15:
The only way out is for the dangote refinery to be fully operational. 60 percent of our Forex demand is for crude oil. Once that is taken care of internally, the demand for dollar will fall.
I'm writing this based on the assumption dangote refinery will not source for its crude oil form overseas.
If it's within Nigeria, he can easily pay in naira at whatever equivalent rate of crude oil price in dollars.

Anything apart from above is simply a wild goose chase. Dollar will hit 2000 naira and there's nothing the govt can do about it.

You're bang on.

However, this country can defy economic hypotheses.
As such, I'm cautiously optimistic things will begin to ease from Q2 2024, after Dangote ratchets up supply.

In the near term, the slide will continue.
I expect the CBN to pull another emergency lever in a couple of days.
It will cause a transient uptick by about a hundred or so naira, then the fall will resume to 1100.

-Lord

When he is done with Nigerians, everyone willkn know that a toWn hall is never different from balabulue, buluru..bulaba!

They won't see this one, they are busy struggling over Mohbad. Somebody who doesn't even know what is going on, on planet Earth anymore. Do you know what it means for bundles and bundles of naira notes to be equal to just one single piece of paper? Your sweat. You hold N76,000 in your hand and for your mind you get money... you dey feel like Obasanjo. You will go to ATM to withdraw the said N76,000 with 2 ATM cards, up to 7 times at the rate of N10,000 per withdrawal limit. You will use 2 ATM cards, because the current daily withdrawal limit is N40,000/daily. Somebody that sees you and doesn't completely understand what is going on, will think you want to finish all the money in the ATM machine. Go and convert the N76,000 to dollars, it is equal to one single piece of paper... $100 note

being:

Even if dangote refinery is fully operational and buys crude from nigeria, difference won't be much--- cos we would be losing d fx sales from d crudeoil he buys..

Well I will admit this is an area that's grey to me. because I'm not sure if dangote will be purchasing the crude oil from Nigeria within the OPEC allocated quota for Nigeria.
Dangote refinery is meant to consume 600 thousand barrels per day, this is a huge chunk to take off Nigeria's OPEC quota when she barely produce up to 1.2-1.6 millions barrels per day.
However, remember dangote will also export refinery products- petroleum, diesel and by-products. He's not only going to sell to Nigerians. That would definitely help boost the Forex reserve.