helinues:


Wait, are you saying you are not happy about naira gaining strength, make I just ask that straight question

Y'all love seeing enemies where there's none

Anatolia:


As well as I dislike Tinubu’s government, praying that the currency will depreciate again is almost evil.

Where is the prayer?
I said naira is surviving on borrowed dollars, won't it finish? Won't you pay back with interest? What happens when it finish?

You'll borrow again abi? For the next 7 abi 6yrs plus you want to keep borrowing to help your currency breath abi.

Common airline ona no get, hospital gan no de 😂😂😂😂 all your doctors don run finish. You no even get farmers again because of bandits and you are being emotional and sentimental about an obvious truth

Correct

@jmoore

When you are clueless and ignorant to things that happens around you, you will definitely sound this way.
So, you don't know that oil production has moved from 1.1 million under buhari govt to 1.8-9 now.

Are you a family person? Lemme know abeg?

Kukutente23:

Where is the evidence that oil production has increased. Oil price has been up since before this fumbling govt took office. So oil price isn't the reason the naira tumbled

I really don't see what it is to rejoice about. 1300 to a dollar is an abysmal rate

alimiadedayo1:

God bless people are daft.. People that think they are intelligent are the most stupid human being on earth.. so just because dollar went down 1200 in day by default everything will just go down I don't understand my people again

Questioning the education system in Nigeria is crucial, especially if many people struggle to apply basic logic to situations.

I swear.

The circle will still repeat itself, it is a matter of time

seunjungle1:
When you are clueless and ignorant to things that happens around you, you will definitely sound this way.
So, you don't know that oil production has moved from 1.1 million under buhari govt to 1.8-9 now.

Are you a family person? Lemme know abeg?

1.8m? Really? So you mean to tell me Nigeria has exceeded OPEC quota

What is your business with me being a family person or not?

TheOldGods:
why are prices of things in the market not coming down. See eh, the problem is not in the Naira, but Nigeria. We don't have any body that supervises and regulates pricing. Anybody go just wake up put price. Dollar is selling for ,1280, now but prices are still high when it was 1500-1600.

it will take time and dollars need to be stable for like 6month to a year.

TheOldGods:
why are prices of things in the market not coming down. See eh, the problem is not in the Naira, but Nigeria. We don't have any body that supervises and regulates pricing. Anybody go just wake up put price. Dollar is selling for ,1280, now but prices are still high when it was 1500-1600.

If you are a business owner, you bought goods when dollar was 1600, you haven't sold that goods yet now dollar has crashed, be honest, as a business man, will you sell for anything short of when dollar was 1600?

Remember these are old stocks ooo

We all hope you are right, but I have my doubts.
Portfolio investors are the most unreliable source of capital inflows. They can exit as quickly as they enter. It happened in 2014/15.
The current investor 'confidence' is primarily because Nigeria has increased interest rates to dizzying heights.
High interest rates may attract FPIs but is disincentives local investment/production. This cant be a good thing in the long-run.
The current improved $ liquidity is coming from LOANS, not income from production based output.

tophempire:
Naira is only surviving on borrowed dollar... In 3 month we should be back to 1800+.

Who wan bet

All enemies of this great country shall be consumed by fire. By the time Nigerian finally gets better they will be no where to be found

and CNG Buses are still coming...which would greatly reduce demand on petrol...in addition to increased supply of food produce, startup of our refineries...with Dangote Diesel and Aviation Fuel leading...which would further bring in more forex. This is why everyone wanted to win...this is the time to do amazing things for Nigeria...the opportunities were clearly there for the take.

femisplash:
By a stroke of genius, the President had ordered the CBN be in charge of receipts of oil revenues, a departure from decade-long misappropriation of crude oil sales. It therefore enhances CBN's ability to stabilize the currency. The insinuation that CBN borrows to sell to banks and BDCs should be disregarded.

2. Clearing of $7billion backlog has done the economy so much good. Investors no longer have the fear of their funds being trapped.

3. Oil production is on a steady increase. Although, a component volume of it had been sold in the future, however, the significant increase in production is offsetting the shortfalls. Moreover, oil price is up.

4. The market is gaining back investors' confidence. Following MPC meeting in January, investors reacted positively, total foreign portforlio recorded $2.3billion in febuary, purchases of naira assets stood at $1billion, oversea remitances went up greatly, FG bonds was oversubscribed, all these helped create more liquidity and increases market supply.

Dis is just an artificial pump by can that y it seems not to have effect on goods,giv it time dollar go regain nd pump at much high price digit

Wainey:
most of these people bought at N1800 to a dollar, they will have to sell off their products.

Btw, I expect the real value of the naira to be around 800

This is the greedy man approach of Nigerians hurting themselves. Anyone who practiced this is nothing, but a rogue and thief. You bought a good as cheap as #25, because of surge in dollars and other hidden economic factor, manufacturer send a memo that the good is now #90, you begin to sell old stock at #90 at the detriment of the customers and the level of hardship they faced. Now, naira is gaining, manufacturer said the good is #60, you still insisted to sell at #90 claiming old stock. This is your so called business?. Anyone who practiced this,particularly those greedy Igbo traders should be arrested and fined heavily. You are killing the economy, propagating hardship, yet you are claiming Government is responsible. Government should regulate price of all commodities, anyone who could not sell at the regulated price should close up. Rogues are enriching themselves to impoverish Nigerians. If USD fall and these people are not checkmate, Government has done nothing.
Mathematically, your S.P= F(C.P)

Iamgrey5:
N900 is the true value Buhari left it at.

I don't think Tinubu has done anything extraordinary since he came in to really affect the real value.

It will drop below N900 that's for sure I see it settling at N500

helinues:
The manipulators have been sent out. Naira would gain more strength too, the exchanged rate even outside the country is reducing.

Good news for sane and patriotic Nigerians, bad news for the enemies of progress and development of Nigeria

Enemies of Nigeria are the same APC politicians who make policies and violate policies.
Enemies of Nigeria are the same APC politicians who impoverish you followers

99thEnemy:

So you expect the goods that are currently in stock that were purchased with a higher dollar rate to be sold at a lesser price?

You just offered a dumb explanation...

No goods was purchased at any higher dollar price.

The spike in the price of goods was caused by the announcement of the removal of subsidy and the floating of the naira: both done without any form of planning and thinking.

Suppliers, manufacturers and sellers of the goods capitalized on the shock that was introduced to the system to jack up prices.

It is like what happens with transport fares in a place like Lagos...the moment motorists learn about a traffic building up along a particular route, they would increase the fare arbittarily leaving the commuter with no choice other than to pay beyond the normal fare...

This thing is not rocket science...

Instead of this noise making and propaganda, the government should pursue programmes and initiatives which will organically drive down the prohibitive price of commodities...

They were Nigerian sellers and manufactures are behaving in the face of this so-called naira appreciation shows that they know that it is a cosmetic exercise...

Where are the productive activities that will bring permanent stability to the value of the naira?

99thEnemy:

lets say you bought Garri at 500 naira per mudu last week to sell at 550 naira per mudu to make a fixed profit of 50 naira per mudu.

You still have the stock of Garri you bought last week and the price this week goes down to 400 naira per mudu where you buy to resell.

Will you start selling the garri you have in stock for 450 naira per mudu?

but the same people had old stocks at 500 naira when dollar was at 700$ and Sold it at current price of 1600 when it was 1600. Bro business is either you loose or you gain.

femisplash:
By a stroke of genius, the President had ordered the CBN be in charge of receipts of oil revenues, a departure from decade-long misappropriation of crude oil sales. It therefore enhances CBN's ability to stabilize the currency. The insinuation that CBN borrows to sell to banks and BDCs should be disregarded.

2. Clearing of $7billion backlog has done the economy so much good. Investors no longer have the fear of their funds being trapped.

3. Oil production is on a steady increase. Although, a component volume of it had been sold in the future, however, the significant increase in production is offsetting the shortfalls. Moreover, oil price is up.

4. The market is gaining back investors' confidence. Following MPC meeting in January, investors reacted positively, total foreign portforlio recorded $2.3billion in febuary, purchases of naira assets stood at $1billion, oversea remitances went up greatly, FG bonds was oversubscribed, all these helped create more liquidity and increases market supply.

Apt!!

tophempire:
Naira is only surviving on borrowed dollar... In 3 month we should be back to 1800+.

Who wan bet


ABEG MAKE MUMU ADULTS NO MENTION ME AGAIN.

2500

tophempire:


😂😂😂 we no de operate on the same knowledge.

While the candle stick will still see downward trend for the next few weeks we will be busy buying dollar.

When it turn green we will hold and after August na to de buy more farm land.


Money is a game that's rigged. You can't understand it and be poor sir, forget your ignorant prayer

Typical armchair strategist 🤣🤣🤣🤣
Which dollar are you buying ? Have you ever owned the greenback before ? 🤣🤣

All these Nairaland investors and billionaires 🤣🤣🤣

Naira will appreciate to below N600 to a $ mark this comment

TheOldGods:
but the same people had old stocks at 500 naira when dollar was at 700$ and Sold it at current price of 1600 when it was 1600. Bro business is either you loose or you gain.

That is to show you how Nigerian traders too are part of the cause of Nigeria’s problems.

what you just described is one of the leading causes of inflation in Nigeria.

The government can only be blamed for this for lack of price control.

tophempire:
Naira is only surviving on borrowed dollar... In 3 month we should be back to 1800+.

Who wan bet


ABEG MAKE MUMU ADULTS NO MENTION ME AGAIN.

You be unpatriotic mumu. You no be Nigerian but at least wish good for the country that harbours you and your kinsmen and stop projecting your stupidity online.

maestroferddi:
You just offered a dumb explanation...

No goods was purchased at any higher dollar price.

The spike in the price of goods was caused by the announcement of the removal of subsidy and the floating of the naira: both done without any form of planning and thinking.

Suppliers, manufacturers and sellers of the goods capitalized on the shock that was introduced to the system to jack up prices.

It is like what happens with transport fares in a place like Lagos...the moment motorists learn about a traffic building up along a particular route, they would increase the fare arbittarily leaving the commuter with no choice other than to pay beyond the normal fare...

This thing is not rocket science...

Instead of this noise making and propaganda, the government should pursue programmes and initiatives which will organically drive down the prohibitive price of commodities...

They were Nigerian sellers and manufactures are behaving in the face of this so-called naira appreciation shows that they know that it is a cosmetic exercise...

Where are the productive activities that will bring permanent stability to the value of the naira?

Well, in this case, the government isn’t the cause of the price problem but the traders.

Simple.


Also before you reanalyze, remember that subsidy was said to be completely removed in May 2023. we are in March 2024.

helinues:
The manipulators have been sent out. Naira would gain more strength too, the exchanged rate even outside the country is reducing.

Good news for sane and patriotic Nigerians, bad news for the enemies of progress and development of Nigeria

but Bayo Onanuga said that Tinubu was not prepared for the office he is presently occupying despite shouting "emilokan" all over the place. is he not the true enemy of the progress and development of Nigeria?

Iamgrey5:
Prices Keep rising because commodities were ordered and paid for at the 1900 Naira.

Only market forces can force prices down.

Once demand for the product fall because income has not yet increased significantly with price, the commodities suppliers will have no choice that for their Prices to reflect current market realities.

It's already happening as some construction materials are dropping.

Food is the last to react to price reduction because retailers and wholesalers take advantage of the essential nature of it.

You know that you are carping nonsense...

Voodoo economics has no place in reality...

What is the price of cement in the market today even after the much touted parley between Tinubu, Dangote and the BUA owner?

You guys should invest more energy into bringing relatable improvements than these propaganda and noisemaking...

The economy will not improve by wishful thinking and assinine speculations...

helinues:


Wait, are you saying you are not happy about naira gaining strength, make I just ask that straight question

I wonder.

Why this government wan spoil my gari now? All the dollars wey I buy keep to dey sell don dey spoil small small for my hand. Na which kind wahala be dis? Mannabbqgrils talk to PBAT make him allow boys to dey chop from dollars now

Let's pray it continues appreciating, up to ₦200 IJN.

seunowa:

Clueless idiot, when naira was exchanging for 1850 to a dollar, someone like you was rejoicing and calling the government all manner of unprintable names.
But now that the government set out policies framework are paying off. You are bringing out another negative narratives that naira will collapse in less three months.
If naira doesn't collapse In three month then that doom will fall on your head...
Negativity about our country should be erased. Everyone should support this government to achieve greatness and prosperity. If these are sustained,in no time, fuel prices will go down, so also prices of commodities and food.

Just ignore that idiot

helinues:
The manipulators have been sent out. Naira would gain more strength too, the exchanged rate even outside the country is reducing.

Good news for sane and patriotic Nigerians, bad news for the enemies of progress and development of Nigeria

na wetin I do you? No dey mention my mention any how nau

Lol, Naira will continue to appreciate while Pastor Odumeje will keep taking the glory. Gullible sheep go attribute Naira's appreciation to Odumeje's powers, dem go say na because he be real "Man of Goat".