Johnjustice:
We should charge naira for our oil export, make them go buy naira, to buy our oil, this will boost naira demand and value.

helinues:


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

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.

Putindbutt:

True, i was at a pharma store and was told they would have to sell off the ones on shelf before they reduce price and that dollars have to be stable.

femisplash:

If PH starts production this month as promised, it'd futher endanger their speculations as dollars would futher crash. They'd rather sell off the old stock as fast, rather than the waiting game.

femisplash:

CBN as at yesterday had also reduced custom duty, so we expect a corresponding reduction in prices of imported goods, unless of course Nigerians do what they do best- which is continued exploitation and greed. Also, all level of government should roll up their sleeves and invest in critical sectors in their respective states.

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.

MrProlific95:
Propaganda drove the exchange up, propaganda is been used to bring it down. Cosmetic surgery government

femisplash:

Manipulators like Binance have been shut out, anyone thinking there will be a massive slump is making a big mistake of his life. This crop of CBN executives led by Cardoso are the real MVP. Hoarders beware!

femisplash:

Bruv!!!, i love your idea but that's a wishful thinking, we got our debts in dollars, we serving our debts in dollars. We can't afford going that route.

femisplash:

CBN as at yesterday had also reduced custom duty, so we expect a corresponding reduction in prices of imported goods, unless of course Nigerians do what they do best- which is continued exploitation and greed. Also, all level of government should roll up their sleeves and invest in critical sectors in their respective states.

99thEnemy:

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.

MN07:


You are the clueless fool here. Naira must hit 10,000NGN whether you like it or not.

By then I'm sure you won't have money to purchase data to come online and talk trash.

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

Putindbutt:

True, i was at a pharma store and was told they would have to sell off the ones on shelf before they reduce price and that dollars have to be stable.

Johnjustice:

The naira will appreciate fast, we will be able to pay off our debts quicker, if the president has the courage to do this, we will pay up our debts quicker... Nigeria is servicing it's debt, if not for stealing in government thise debt are chicken feed to pay back. Owing debts has nothing to do with us selling in naira, as long as we pay them their debts...we are not obliged to keep selling in naira because we are owing.

femisplash:

"it is better to remain silent and be thought a fool than to talk and remove all doubts".

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.

maestroferddi:
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 asinine speculations...

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.

Putindbutt:

Try get sense na, what is the total production before it slump by 100,000 and that doesn't stop it from going up again. oil production is increased, dummy.

PepeXKermit:


Binance? how did they manipulate it? una never see anything. Naira appreciated on some dollars that was flushed into the system

wisepigeon:


This not reflected on customs duty, as 1x40ft container is stilling paying a total import duty of 9-11million naira from 5-7million naira it used to be, while 1x20ft container is still at 7million naira. This is why cost of goods in the market is still very high, even as naira is appreciating. So there is no sign of relief at the moment until government take more drastic action to bring down prices.

jetwonder:

But Prices of good is still high!
Government should look into this.

TheOldGods:
this is the same thing I said earlier before you quoted me. You no read am we'll be for you quoted me or what?

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.

femisplash:
It is also noteworthy to appreciate CBN's new guildelines, these bold moves have helped sanitize the financial system. CBN henceforth is closely monitoring operations of financial institutions and BDCs. CBN and the security agencies are following every transactions, the eagle eyes are following the money. Hopefully, it gets even better.

PS; foreign reserves has grown to $34billion as at feburary.