Lithiumite:

What would your any other party do better......in normal climes,this should discourage imports there by leading to more local production and encourage export......but we are having complex problems in Nigeria.

God bless

phoneport:
Agbado economics
Tinubu built Lagos people where una dey
E nor fit build naira

This serve as means for us to stop importation then we can build local production and even export but yet Nigerians still want to import again 🤔

That's d problem

Lithiumite:

What would your any other party do better......in normal climes,this should discourage imports there by leading to more local production and encourage export......but we are having complex problems in Nigeria.

Same question what would what would. Since he came he has made buhari to look like a saint
As bad and worst buhari was, tinubu is worst than buhari

Inspirer1:
We shall overcome.

Probably in the year 2099

Aisha don talk am, hold ur dollars o

DagashSamson:
For an import dependent economy its not surprising.

They kept deceiving gullible Nigerians that Dangote refinery will change the dynamics. Dangote is selling Jet A1, diesel into Nigeria market at the moment, and will soon start selling petrol yet we are still where we are.
Naira depreciation is a result of high import and corruption driven demand. Majority of Nigerians are battling to survive, but the few in government loot so much and convert to dollars. This and import are the majore reasons driving naira depreciation.
The political class is largely responsible for where we are as a country.

In normal economics this should be a good omen for Nigeria as it should naturally discourage imports and encourage local production and exports but here, reverse is the case......we import basically everything,even LPG that we claim to have in abundance that is essential for survival of households .

These same reason is why food prices are going up because the little food we have is being being bought up by those who want to export while those here cannot afford the prices the exporters are willing to pay.....the cassava demand for export or processing to other finished products apart from food is so high that we can't even meet the demand.....prices then go up and the local populace can't afford it..
The annoying thing is govt isn't making the right policies and noise that we are having a food crises.....a state of emergency should have been declared a long time ago on food.....we really need to work on local food production.....it's the most basic for any economy.

Anything less than 1k should not be celebrated

Ojuntana:
Meeehn

Tinubulation is real


They have quietly discarded those predictions of third quarter or 1st quarter 2024. I remember the phrase "fair value" from Messrs grandstar and Legendhero last year. They bombarded everyone with how naira will stabilise at 800 per dollar. Today they have all gone mute and there's no talk of fair value anymore.
Can anyone check if the naira is still floating in these troubled waters?

true talk, I wonder why some Nigerians politicise everything, both supporters of the President and non supporters are complaining, but when people complain, they'll say they are 'supporters of Peter Obi' leaving the substance and chasing shadows

sweetkev:
Probably in the year 2099

I tire..... just holding on to the 1% hope I have.

Hmmmmmm

Streetdoctor:

Same question what would what would. Since he came he has made buhari to look like a saint
As bad and worst buhari was, tinubu is worst than buhari

I laugh when people always compare a present govt with the previous once and saying it was far better .....it's a myopic way of assessing the problems we have in this country.......since independence,every govt basically see a problem but instead of facing it frontally to solve it they begin to patch it up so as not to take tough and hard decisions so as to be politically correct.
Naija is like a case of a transport vehicle with many drivers that takes turns to drive....the first driver notices a problem, instead of solving it he covers it up for the next driver to fix and that one also does same because the vehicle still drives,but that problem would persist and lead to other problems then you have a whole broken down vehicle.

Helinues should come and comment on this.

Kobojunkie:
Down ke? The naira has been hovering around $1500 for the past month or two. Where is this news coming from?

It is news because the fellow you pushed this out has been praying fervently for it to go pass the 1500 mark.

Now, at least he has something for his and his ilk to feast upon.

All for the negative comments and the likes on Nairaland

Bobloco:
I am still waiting endlessly when the naira will exchange below #1000 for a dollar, as was promised by the BATerians.

I hope I will not be labeled as being bitter, a hater, and an enemy of progress because my candidate lost for being hopeful and optimistic about the naira appreciating and exchanging below #1000 for a dollar.

Even if it happens, is it an achievement? How much was the exchange rate when he took over?

Kingrshd3:
It's even better and I can't wait for it to become 2000 per dollar so we can stop importation by all means and try to produce what we want to use and consume and also consume what we produce in vice versa

No dey jonse, every country imports.

Besides, before you're able to export finished goods there has to be an enabling environment for businesses to thrive and your government has done miserably in this regards

ogododo:

https://www.vanguardngr.com/2024/06/naira-down-to-n1505-in-parallel-market/

we predicted this less than 3 months ago when ndi ronu were disturbing the peace of this forum and celebrating that dollar is exchanging for a thousand naira.. Now e don dey red again. Buhari better pass tinubu las las.

phoneport:
Agbado economics
Tinubu built Lagos people where una dey
E nor fit build naira

eBOLA is back on rampage 💯💯💯💯📢📢📢📢

Always down like Tinubu, useless country

Nothing concern dollar, things are cheaper when dollar is 1900, but very cost now dollar is 1500

YouAreNobody:


No dey jonse, every country imports.

Besides, before you're able to export finished goods there has to be an enabling environment for businesses to thrive and your government has done miserably in this regards

Well that's true though but I think I'm our case 99.9% of things we use is importation that's why we are different and our economy is declining 😞

But the government made some mistake in aspect of closing the border and increase custom tax rate to discourage importation which is good but WHAT ARE WE PRODUCING YET 😭😭😭

THEY DONT HAVE RESEARVATION FOR THAT BUT YEY THEM GET MIND CLOSE THE BORDER 😭😢

MEANING WHO GO DIE GO DIE AND WHO GO SURVIVE GO SURVIVE

Spot on.
Sadly same political class that created chunk of our problems are busy scheming for 2027 election rather than tackle the problems.
We simply have a long way to go. It might take decades before we get a visionary, transformative leadership in Nigeria, no thanks to the kind of appalling election we have every 4 years.
I will never blame anyone who migrate to another clime.

Lithiumite:


In normal economics this should be a good omen for Nigeria as it should naturally discourage imports and encourage local production and exports but here, reverse is the case......we import basically everything,even LPG that we claim to have in abundance that is essential for survival of households .

These same reason is why food prices are going up because the little food we have is being being bought up by those who want to export while those here cannot afford the prices the exporters are willing to pay.....the cassava demand for export or processing to other finished products apart from food is so high that we can't even meet the demand.....prices then go up and the local populace can't afford it..
The annoying thing is govt isn't making the right policies and noise that we are having a food crises.....a state of emergency should have been declared a long time ago on food.....we really need to work on local food production.....it's the most basic for any economy.

Bobloco:
I am still waiting endlessly when the naira will exchange below #1000 for a dollar, as was promised by the BATerians.

I hope I will not be labeled as being bitter, a hater, and an enemy of progress because my candidate lost for being hopeful and optimistic about the naira appreciating and exchanging below #1000 for a dollar.

. They will all die a painful death

Lithiumite:

I laugh when people always compare a present govt with the previous once and saying it was far better .....it's a myopic way of assessing the problems we have in this country.......since independence,every govt basically see a problem but instead of facing it frontally to solve it they begin to patch it up so as not to take tough and hard decisions so as to be politically correct.
Naija is like a case of a transport vehicle with many drivers that takes turns to drive....the first driver notices a problem, instead of solving it he covers it up for the next driver to fix and that one also does same because the vehicle still drives,but that problem would persist and lead to other problems then you have a whole broken down vehicle.

U see dis analysis, we HV gone past that, same analysis Yoruba used during buhari 8 fucking years, so dis one dun expire. Come up with another one

Kingrshd3:
It's even better and I can't wait for it to become 2000 per dollar so we can stop importation by all means and try to produce what we want to use and consume and also consume what we produce in vice versa

You are naive. So you make phones in Nigeria? Majority of the tech things we use are imported.

The few companies left are leaving because of the harsh economic conditions at 1500/$ so which companies will be left when it gets to 2000/$?

People will continue to import at 2000/$ but it will be beyond the reach of a vast majority of Nigerians

Lithiumite:

What would your any other party do better......in normal climes,this should discourage imports there by leading to more local production and encourage export......but we are having complex problems in Nigeria.

bro try to get sense use your sense before Dey use you APC av nothing to offer that is the fact they all went there to loot money and start spending unnecessary money I think you are not deaf and blind APC av nothing to offer we av seen it since 2015 so no argument biko

Odumeje don go back to UK?

Removing subsidy and going back to it with foreing loans is facing the problem?

Devaluing the currency foolishly without restructuring a dollar dependent economy where naira is even a second fiddle to USD is tackling the problem?

They have worsened it. Wait till end of this year till you see full effect on inflation. Dey play.

I don't know the kind of brains some of you have. Regurgitating nonsense you hear or read from the government withiut allowing your heads to think it through whether it is true or not.

Lithiumite:

I laugh when people always compare a present govt with the previous once and saying it was far better .....it's a myopic way of assessing the problems we have in this country.......since independence,every govt basically see a problem but instead of facing it frontally to solve it they begin to patch it up so as not to take tough and hard decisions so as to be politically correct.
Naija is like a case of a transport vehicle with many drivers that takes turns to drive....the first driver notices a problem, instead of solving it he covers it up for the next driver to fix and that one also does same because the vehicle still drives,but that problem would persist and lead to other problems then you have a whole broken down vehicle.

Streetdoctor:

U see dis analysis, we HV gone past that, same analysis Yoruba used during buhari 8 fucking years, so dis one dun expire. Come up with another one

You see the difference between Yoruba and other tribes is that the yorubas don't hold on too hard to chauvinism, yorubas are the once shouting the hardest despite their son being there..... check the results of the last election,SW had the highest spread across party lines......but with this thinking of yours there is no way Nigeria can ever progress because of your likes.

Blazetrailer:
Removing subsidy and going back to it with foreing loans is facing the problem?

Devaluing the currency foolishly without restructuring a dollar dependent economy where naira is even a second fiddle to USD is tackling the problem?

They have worsened it. Wait till end of this year till you see full effect on inflation. Dey play.

I don't know the kind of brains some of you have. Regurgitating nonsense you hear or read from the government without allowing your heads to think it through whether it is true or not.

Where is your proof that subsidy is back.....if you don't end the rent seeking Forex market that was bleeding the economy by subsidising dollars for the rich in the name of supporting the naira now,then when.....GEJ was not able to achieve subsidy removal because he made people aware before doing it..... drastic situations need drastic measures.

Same people complaining about high cost of living are the same ones supporting labour to demand for a minimum wage increase without minding it's consequences such as hyper inflation.....just because they hate the man who is president,they don't mind the country burn to the ground.

If you are in export business you won't be complaining right now,if your import business is affected,shift to other ventures that are profitable right now.

Riskymarvelous:
bro try to get sense use your sense before Dey use you APC av nothing to offer that is the fact they all went there to loot money and start spending unnecessary money I think you are not deaf and blind APC av nothing to offer we av seen it since 2015 so no argument biko

What did PDP offer for 16 years,I am waiting for you to tell me what anyone else has to offer......I dey wait

That's bad. That's not the point we want our currency to be.