Naira yesterday fell to a record low of N1,348.63 per dollar following strong demand on the official market, also known as NAFEM market.

This is despite the news of additional release of 500 million dollars to various sectors in its determination to address the backlog of verified foreign exchange transactions by the Central Bank of Nigeria (CBN).

This represents 33.87% or N456.73 weaker than N891.90 recorded at the close of trading on Friday.

The observed depreciation is unparalleled and stands as the lowest point in the historical performance of the Naira, reflecting the severity of the current economic challenges.

With the recent news, there is no doubt that Tinubu’s government is clueless and has lost control of the economy. The only reasonable option left for Nigerians now is to push for the dissolution of this government…. Tinubu and his gang of looters have to go before it is too late to salvage the economy. This APC government will destroy this country if left to continue…. It is sad that National Assembly seem to be dead to its responsibilities of checking the executive…. There seem to be no hope as it stands…. Nigeria is finished if we all stand by and do nothing…. This evil APC government has to go…. We know that Tinubu didn’t win the 2023 presidential election…. a government on a stolen mandate….

Go and dissolve it now. Tribalist.

This OP is a mumu man.

Judgementa1:
Go and dissolve it now. Tribalist.

Join to save this country

That is the most patriotic thing to do

You go wail tire. If dollar like let be 10k Bola Ahmed Tinubu is your president. You lots say you don't care about Nigeria yet na una dey open thread about it every single minute on Nairaland.

I Love Bola Ahmed Tinubu

ImoleNaija:
This OP is a mumu man.

Complete one aswear

For those making jokes and dishing out insults on this thread, all of you will face the consequences for supporting this evil APC government against your people….

Wetin we go use dissolve am?

Hot water abi acid?

Up emilokan, the suffer must to reach everyone for our collective brains to be reset properly

Seem it is already too late to salvage the economy…. Although dissolving this APC government may give the economy respite in the interim…. Until a new government with competent team formed on merit and not based on nepotistic appointments take over and truly cut costs by downsizing government ministries, reducing agencies, reducing National Assembly huge allocations and empower anti-corruption agencies, enact frugal spending policies to checkmate wastages and get one national refinery working.

Maybe Nigeria’s economy will bounce back if all listed above is done…

SeeWahala:
Wetin we go use dissolve am?

Hot water abi acid?

Up emilokan, the suffer must to reach everyone for our collective brains to be reset properly

Sebi you will not face it instead you will back it..lol. Your obidient ipob head did not tell you we will all be in it together ba ?!

Bebigiby1:
For those making jokes and dishing out insults on this thread, all of you will face the consequences for supporting this evil APC government against your people….

Bebigiby1:
Seem it is already too late to salve the economy…. Although dissolving this APC government may give the economy respite in the interim…. Until a new government with competent team formed on merit and not based on nepotistic appointments take over and truly cut costs by downsizing government agencies, reducing National Assembly huge allocations and empower anti-corruption agencies, enact frugal spending policies to checkmate wastages and get one national refinery working.

Maybe Nigeria’s economy will bounce back if all listed above is done…

I agree with everything single line of your post above but the main question still remains . . .

WHO WILL BELL THE CAT?

Until you or I are ready to rise up to this challenge, Nigeria as a country will continue to run around in circles and even our small neighbours Benin Republic and Cameroon will soon surpass us economically. All it will take is a little time, dazzall

Bebigiby1:
Seem it is already too late to salvage the economy…. Although dissolving this APC government may give the economy respite in the interim…. Until a new government with competent team formed on merit and not based on nepotistic appointments take over and truly cut costs by downsizing government ministries, reducing agencies, reducing National Assembly huge allocations and empower anti-corruption agencies, enact frugal spending policies to checkmate wastages and get one national refinery working.

Maybe Nigeria’s economy will bounce back if all listed above is done…

It would be good to dissolve the APC government, but it won't solve the reason why naira is falling against dollar...and that is simply we are not earning enough dollars.

Even if we put in place a government that would change our economic course, any economic policy that they put in place is going to take time to give results.

RIght now, 90% of our income is going to service debt. Our economy is not diversified, and we have issues. It is going to take a very long time to fix things self.

And even if we bring a new government in, people want subsidy back, want naira to be back to 200 to one dollar. That means the new government in order to please people would borrow more money to make us all happy, and worsen our debt profile...and we would be back to square one again.

I did not say that you should not procced against APC government, but any new government is not going to make things better. Even this old government in power, unless they want to do things like raise our tax to gdp, diversify, actually fight corruption, and move towards making us a manufacttuer that exports made in nigeria stuff...

The Russians had a revolution. It took 40 years before they got to see some benefit, and even then...

Good question “ WHO WILL BELL THE CAT?

Nigeria’s economy is a saddening situation….

A nation without unity…. Tribal and religious sentiments may finally destroy Nigeria….

SeeWahala:


I agree with everything single line of your post above but the main question still remains . . .

WHO WILL BELL THE CAT?

Until you or I are ready to rise up to this challenge, Nigeria as a country will continue to run around in circles and even our small neighbours Benin Republic and Cameroon will soon surpass us economically. All it will take is a little time, dazzall

Bebigiby1:


A nation without unity…. Tribal and religious sentiments may WILL finally destroy Nigeria….

Edited your post for future reference, please take proper corrections in case of next time

COMRADES, this government is CORNfused

I’ll now vote PBAT even if Naira is 2000 though we go soon reach there.