Theunderman:

This stuff won't work fully cos of politics

..abim..I don tire for this country

wittywriter:
Ok...shoutout to fellow freelance & remote workers earning in dollars.




Wittyness

make we hear word abeg.

Ibrahimlagosian:
Instead of complaining,why not look for a skill to learn and earn in dollars.Trading is bae

make sure you are not losing in dollars... trading is risky.

VeeVeeMyLuv:
what about tourism?
If that desert rocky terrain country that equally has same crude oil could do it, then we too can

Tourism is a long term game plan that needs high level of organisation, huge govt support for the private sector that will drive it.
There should also be some level of basic infrastructure provided..functioning Airport, good roads, utilities etc.
Finally security of life's and properties must be guaranteed. Nobody wants to come to a country where banditry, kidnapping, violence is rampant.

Do u think Nigerian govt is really ready for above? Look at what happened with Tinapa. Duke created it with the intention of replicating Dubai. Tinapa was meant to be like a holiday resort where u buy goods that are duty free. FG killed it.

Forget Nigerian govt is not ready for anything. Let's just focus on our comparative advantage who h is crude oil.

OkCornel:


Demand and supply. Less pressure on demand for dollars to import commodities.

If demand for foreign currency falls, exchange rate will improve.

And what impact does it have on the already inflated Nigerian products? Nobody is saying that people should not buy Nigerian products, but it is stupidity to make less substandard products in Nigeria and still make them costlier than imported products. It absolutely makes no sense, cos it's foolhardiness for me to go and start buying substandard products at exorbitant prices just because I want to improve exchange rate.

IamAsiri:


And what impact does it have on the already inflated Nigerian products? Nobody is saying that people should not buy Nigerian products, but it is stupidity to make less substandard products in Nigeria and still make them costlier than imported products. It absolutely makes no sense, cos it's foolhardiness for me to go and start buying substandard products at exorbitant prices just because I want to improve exchange rate.

And you buy these foreign products with a devalued naira which is still costly and adversely impacts purchasing power, as well as the exchange rate.

Choose your poison.

wittywriter:

SMH @your display of ignorance...that extra expence is covered by same extra I get from the converted $ I earn...next time ask question(s) to learn and stop being vulgar.


...sis /bro TGIF enjoy the weekend ahead.


Wittyness

Yes I agree with you having a little edge above one who earns in naira but that shouldn't excite you, this will force those who earns in naira the artisans to increase their price as well and cost of items increase, do your self good and check what $50 can afford you 2015, 2016, till now

wittywriter:

SMH @your display of ignorance...that extra expence is covered by same extra i get from the converted $ i earn...next time ask question(s) to learn and stop been vulgar.


...sis /bro TGIF enjoy the weekend ahead.

I'm a virtual expatriate since 2019...best life/work decision i made...even if it's a dollar to naira exchange rate i'm unperturbed...if you don't get it let's forget it.




Wittyness

Anyone can be happy with the decision on his career either earning locally of abroad but just know that depreciation of naira will not make you rich 🤑

UnfairLife7:
Lol

Ignorance will not kill you guys. Olodo calling someone Olodo 🤣

Emotionally💯
Logically 0️⃣

FX go sweet

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, 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.

Foreign investors kii you there!
What of local SMEs getting required to loans to produce exportable products?

What if local production of petroleum products surpasses importation of refined crude?

Every time foreign investors this foreign investors that!

Top world economies like America, China,etc are industrialization dependant and not dependent on foreign investors ode! They produce and export to increase their Dollar reserves. Not wait for foreigners to come invest and employ them.

Nigerians including I myself have this dependancy mindset which is "Only the white man can do it cos we can't"

Fizalis:


Foreign investors kii you there!
What of local SMEs getting required to loans to produce exportable products?

What if local production of petroleum products surpasses importation of refined crude?

Every time foreign investors this foreign investors that!

Top world economies like America, China, etc are industrialization dependant and not dependent on foreign investors ode! They produce and export to increase their Dollar reserves. Not wait for foreigners to come invest and employ them.

Nigerians including I myself have this dependency mindset which is "Only the white man can do it cos we can't"

Bank deposits to GDP (%)

Nigeria: 16.4%

Thailand: 136%

Malaysia: 123%

Indonesia; 43.9%

How will SME bloom with such low deposits? The Nigerian saving rate is quite low and banks prefer to lend to government rather to the private sector which therefore crowds it out.

Capital is scarce and dear and unaffordable for many SMEs

I am very surprised you can see the spec in my eye while there's an Iroko tree languishing in yours.

If you're going to insult, please keep off my mentions.

This is not a white issue. Japanese, Koreans and Chinese aren't white. And many investors coming from America nowadays come in all races. The CEO of both Microsoft and Alphabet (Google's parent company) are both of Indian descent

grandstar:


Bank deposits to GDP (%)

Nigeria: 16.4%

Thailand: 136%

Malaysia: 123%

Indonesia; 43.9%

How will SME bloom with such low deposits? The Nigerian saving rate is quite low and banks prefer to lend to government rather to the private sector which therefore crowds it out.

Capital is scarce and dear and unaffordable for many SMEs

I am very surprised you can see the spec in my eye while there's an Iroko tree languishing in yours.

If you're going to insult, please keep off my mentions.

This is not a white issue. Japanese, Koreans and Chinese aren't white. And many investors coming from America nowadays come in all races. The CEO of both Microsoft and Alphabet (Google's parent company) are both of Indian descent

Sorry for the insult sir. I was just emotional.

Fizalis:


Sorry for the insult sir. I was just emotional.

I'm too am sorry.