sell ur dollars now

Don't sell your dollars o....
If you can, buy more and store away from Nigerian banks.

xprojectlive:
sell ur dollars now

Do you understand that our currency was devalued?

Ikaeniyan0:
So because it was devalued, it now means it can't gain value again?

There's a reason the government devalued the naira twice and I doubt you know why

The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

Kindly educate me on why the naira was devalued twice.

Scratching my head. Oh I think I get it. We needed so much naira to buy dollar that we decided the natural thing to do will be to further reduce the value of naira so we can get even less dollar with it? Genius!!!

Back to topic.

40% of the demand on FX is projected to be eliminated. So we have 40% suplux. The CBN would loose approximately 25 to 35% influx of FX via local currency sales of Crude oil, leaving us at about 5 to 15% suplux. And it is safe to say that other economic factors will easily mop up that suplux but let's say they don't, you really think this is the magic wand we need to wave and fix the Naira?

I think not.

xprojectlive:
sell ur dollars now

it should, 2014 N1.6m was about $8k, now same amount is about $650

If they exports refined crude, fine. That's because inflow of dollar/forex will increase supply and relax the demand from Dangote himself. Two forces moving in two directions to create a double sided Naira strengthening effect.

KaLuCh:


Do you understand that our currency was devalued?

So because it was devalued, it now means it can't gain value again?

There's a reason the government devalued the naira twice and I doubt you know why

The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

Toh

Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.

The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

The CBN will now have more dollars at their disposal

Caveat: until NNPC is consistently supplies Dangote refinery crude oil at a fixed naira price, it’s too early to sell off your dollars.

If NNPC screws up the crude oil supply, Dangote will have no option than to source for forex to import crude oil, and you know what that means for the naira.

Verdict: Wait till the government consistently supplies Dangote refinery crude oil for the next few months.

40 percent demand for dollars is gone

Why are advising hoarders of dollars.

By October they will know howfar.

Can you all see how independent marketers are very quiet., trust me many fueling station will close up before December.

Crash am first now and stop spending the money you have not earned Ha!

What’s the Dangote refinery maintenance and expansion plan for the next 50years thats what i want to see

How do you expect the Naira to gain weight when the economy itself is malnurished?

How do you expect the Naira to gain weight when the economy itself is malnourished?

Absolutely!

Dollar to 700

xprojectlive:
sell ur dollars now

statement from poor human being

Awalokan batstards have reappear on naira land today because of dangote personal business am ashame of them

Ikaeniyan0:
The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

The CBN will now have more dollars at their disposal

Very true

Is dollars Nigerian currency?


The economy of Nigeria has no effect on dollars.


Face your naira and stop thinking that dollar will fall.

Iffa hear, he needs dollars and Euro to pay up the loans and bonds

Tales by moonlight

Dey play

If they use the cement industry playbook.
Forget it.

Until warri refinery, ph and kaduna are privatized forget it.

When all these industries are privatized we would produce oil so much that saudi arabia will fear and then supply will surpass demand.

More refineries will spring up.

Demand for dollar will reduce but not crash.

We need to produce other basic things too. Food, cloth shelter, electronics.

xprojectlive:
sell ur dollars now

Vake niews!

It should help the naira, may be not crash it. The Naira should gain in the long run.

Dey play . Nothing like that. Yoruba killed the naira, after nupe devalued it through SAP.
Igbo via okonjo iweala nurtured the dollar until the RONU destroyed it

No

Wetin e crash?

Lol. Y'all keep putting ur hope in the hands of a business man neglecting the government that should make life more meaningful for y'all.
Dangote is in business to make money why do y'all think in ur fried brains that a private business man will do for 250 million people what the government with enermous resources fails to do?
No wonder. Tinibu D'DONKEY has really fried y'all brains. Funny enough I know those banking on Dangote to pacify for the error they made in voting in incompetence

I also trust a section of Nigeria, sell fuel at 5k a litre they still gon buy it for their RR, G wagon. GLK. But u see those ones that stand on the road waiting for yellow molue, avoid them when they beg u for a lift.

Yes it will to some extent mostly if there is sincerity.

About 40% forex as said goes to importation and if that is gone then scarcity wil reduce