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Nairaland Forum / Nairaland / General / Business / See Why The Naira May Fall To The Dollar At #1000/$ (51664 Views)
Naira May Rise Further Against Dollar As CBN Pumps Additional $195m / Naira May Appreciate To N300 Per Dollar – BDC Operator / 3 Reasons Why The Naira May Appreciate Against The Dollar This Week! (2) (3) (4)
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Re: See Why The Naira May Fall To The Dollar At #1000/$ by chichriso: 7:26pm On Jan 31, 2016 |
God help us |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by nwabuwa: 7:29pm On Jan 31, 2016 |
onyiga:They are into transformer biz.. What position did u apply for.. |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Nobody: 7:29pm On Jan 31, 2016 |
Kirinwa: the purchasing power of the naira falls as the exchage rates go higher. dont celebrate this impending doom. why do u think zimbabwe buy ordinary bread for millions of zimbabwean dollars? guy forget 1 Like |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Observant: 7:29pm On Jan 31, 2016 |
Whoever wrote this piece i seriously need to meet you personally. In one single phrase " I love you no homo" |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Nobody: 7:32pm On Jan 31, 2016 |
As long as we Nigerians are not ready to tame our voracious desire for anything foreign, then I'm sorry that the op has spoken nothing but the raw and undiluted truth. Thumbs up op for this great article. It won't change anything though. Nigerians reek of inferiority complex. Everything must be oyinbo made 3 Likes 1 Share |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by diegwu01: 7:32pm On Jan 31, 2016 |
bookface: |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by fragrant(f): 7:32pm On Jan 31, 2016 |
Eye opener. |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by diegwu01: 7:34pm On Jan 31, 2016 |
nwabuwa:the hugging part 1 Like |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by MyGeneration(m): 7:35pm On Jan 31, 2016 |
emmykk:Is there someone stopping states like ebonyi from tapping its resource's! |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by RichYoungNigger(m): 7:36pm On Jan 31, 2016 |
tomyka81: Unfortunately i don't buy things or sell things in Nigeria. Imagine if i enter naija with just $4000 |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Bookiemart01(f): 7:36pm On Jan 31, 2016 |
true to a point.... the thing is, the SS also need to look for other sources of revenue because the oil prices has fallen and crude oil export is not going to save anyone, not even the SS emmykk: |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Nobody: 7:37pm On Jan 31, 2016 |
Everything a Nigerian does have long be programmed to enrich transnational investors but Nigerians are so foolish that they can't see the big picture, all they talk about is GEJ and Buhari. GEJ and Buhari are both slaves to the system. This is global capitalism and our stupid addiction to consumption feeds the fat pigs in Washington DC and Europe. 3 Likes |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Observant: 7:38pm On Jan 31, 2016 |
Op forgot about going abroad to give birth to buy American citizenship for our children. After which we come to nairaland to hypocritically scream. "One Nigeria". 2 Likes 1 Share |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Nyceguy92: 7:39pm On Jan 31, 2016 |
[quote author=Bookiemart01 post=42220993] The key solution to these problems are regular and constant power supply, zero tolerance for corruption, and patriotism. No industry can sustain on generators alone. The ruling class became greedy. They no longer think in terms of the people but themselves and families. Nigeria Airways collapsed due to mismanagement and embezzlement. It takes a patriotic individual to use homemade goods, most of which are better than the imported ones. Ever seen how our men and women dress, especially the "celebrities?" It's not too late to turn things around if all hands come on deck. 2 Likes 1 Share |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Bookiemart01(f): 7:39pm On Jan 31, 2016 |
My country men fit buy imported poo and urine sef PiperAlpha: |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by harveyspec: 7:39pm On Jan 31, 2016 |
bookface: Pls what does devaluation of the naira mean, what does it entail & it's consequence A layman's explanation will be appreciated. Thanks |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Nobody: 7:41pm On Jan 31, 2016 |
I am astonishing and still open my mouth..... Hunnnn thanks for your advice. But after reading this, I wish to ask questions as thus; please, Who will advise our ladies to stop shopping at shopright? Who will stop our celebrities going abroad for vacation? Who will stop okirika importation at Katangua Supper and CMS and so on? Who will stop us subscribe to DSTV and Supper sport channels? When our home TV show will be back to nation TV the like of Supper story? When Nigerian Will stop writing made in China for a product made in Aba? When will aso oke be once again be aso ebi? When and when foreign movies be totally stop on our TV show the like of Indian sorirori? Oh...... I am sorry for the missing fun back then in the school we were trained in JET club. 1 Like |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Bookiemart01(f): 7:43pm On Jan 31, 2016 |
That one too is annoying!!!! If there are no medical reason Observant: |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Bookiemart01(f): 7:47pm On Jan 31, 2016 |
Only us can AlmuFty01: |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by austine911(m): 7:47pm On Jan 31, 2016 |
This is nothing but the truth. I have been thinking that the discovery of oil in our country is the main cause of our problem and actually it is, sometimes I think if the oil should just dry up. But God in his infinite mercy has make the the price of a barrel to be lower that everyone is feeling it and then the Government is sitting up to tackle corruption. |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Bibors(m): 7:47pm On Jan 31, 2016 |
Though bad leadership may seem to be the problem, the hard truth is that Nigeria didn't get into this mess because of bad leadership. A people get from amongst themselves leaders and get exactly what they want be it military or civilian rule. Though a lot of African countries are doing well now, the issue is actually a black man issue and 're-colonisation is necessary to improve the black race. We have got the worst value system to to the human race. Black me dress expensive all over the world except they can't afford it. We calculate God's blessings by material things especially cars and houses even when we don't need them, nobody wants to be left out, a lot of Nigerians borrow to live to standard just to impress nobody and that's the more reason we hand the petty theives and allow the big thieves get into power. The supposedly good people do nothing making them worse that the aledged bad people . Why can't Nigerians protest or revolt it they feel plundered by the political class? When I read tribal fights I see here on nairaland by our youths I know that salvation is far coz those who should see the issue and seek to change it are even reinventing the problems. I am already vexed to even say more. 3 Likes 1 Share |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by davide470(m): 7:48pm On Jan 31, 2016 |
MathsChic:As a Finance Analyst, you should also know Parallel market exists in almost every nation and they occur as a result of adverse macroeconomic factors admists other factors. Nigeria has a long way to go, but the spread between the Interbank and Parallel rates was not caused by the Government. It was caused by Round Trippers; Profit Seekers, even Banks led the gang. CBN reacted with first closing bank's FX trading window (RDAS) before all these other policies. My point is: 1000NGN ~ $1 is not feasible and it cannot happen. I just hope CBN maintains its current stance, if they do, I can assure you we would see some drastic spread rebate between Parallel and Interbank rates and also see some increase patronage in local production. 1 Like 1 Share |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by vioment: 7:49pm On Jan 31, 2016 |
God bless you op for being honest. These factors and many more. My own qualms are numerous but I still start with this - cultism in universities and now secondary school is at least 30 percent of our problem where religion and ethnicity have 30 percent each. Back in my university days, I was a very proud member of one of the confraternities like many were, 75 to 80 percent of my thinking revolved around staying alive, my guys staying alive, and how our frat will be on top of the rest. Sometimes, it was necessity because if you let your guard down, you may become statistics. We had the power to shut down the campus, disrupt classes, connect with past members who may be those contractors or officals that most times help us financially to acquire better arms and release jailed members. Even so called Jew men had to reorganize their lives, they can't read at night peacefully because of the roads they might pass, they are bullied in various forms on and off campus, etc. These people and even frat members were suppose to be the researchers, the correct type of engineers, the lawyers, etc not the mouth mouth ones we have now. Those times they had to defer their plans of study out of fear could have been crucial times in their academics and careers, and in a big picture perspective, for a better nation at large. Nigerians are intelligent people, may I say very intelligent people when given the opportunity and the environment to thrive in. Go and check Nigerians in so-called better countries thriving and you will see the pattern. Is a lot of factors and real honest decisions that can make Nigeria great better than the past better days Nigerians could believe. Right now, most of our graduates are affected by the conditions of their learning environment and the mercy of their lecturers who are most times truly helpless. Our graduates now, are on reserve knowledge from their primary and secondary school times. To be fair, a knowledge or two from their university days but very limited because people can pay for better grades anyway. Anytime I think about our country, I dey trip how India, or china, Russia, or iran, or even England and the US, how them use better pass us if we do things the right way. How? The Nigeria I know could have and can spark Africa out of the stupid age/state we are now. Nigerians could have been leading in this zika and lassa research epidemic now; Nigerians could have thought of and started producing self driving cars and self flying planes; Nigerians could have systematically empowered Africans to make good use of its resources and probably came up with different sources of efficient energy sources; Blacks worldwide would be proud to be African and be proud of Nigeria's prowess in various fields; Blacks outside of Nigeria could have been wishing to relocate to Africa especially Nigeria, to better their kids future even others too. Africa especially west, east, and southern parts could have been more united and less hostile and maybe decide if we still like arabs residing in our northern parts of Africa. Right now in 2016, Nigerians don't know the feeling of having 24hr light for say 6months straight and may never know for many more years if we are not collectively serious. When people say God bless Nigeria or Africa, people take it lightly, but that is a very serious prayer like praying for your health and life and family, and prosperity combined. Right now, am a hypocrite once more, I just got back from Nigeria yesterday afternoon. I don't plan to have my kids in Nigeria when I am settled if luck permits me a great mate in the nearest future. I am willing to keep on trying to participate in the betterment of Nigeria and Africa at large in my own way eventhough the conditions are currently meant to strangle you. Even the president cannot help Nigeria alone. God bless Nigeria. God bless Africa at large. 1 Like |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by johntaiwo123(m): 7:55pm On Jan 31, 2016 |
k |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by ArchNerd(m): 7:56pm On Jan 31, 2016 |
[font=Lucida Sans Unicode] I just wish I could develop a super human ability right now! So as to gather all NIGERIANS in a single room, speak the sense in this article into their lives and change their mental conditioning for life! Commending the OP alone wont change anything! The problem is how to make everyone aware of the truth, so we can all change! We have 1,518,041 members on nairaland as at this moment, and probably another million guests, Please let's share and preach this truth to everyone near us! Don't forget to preach the gospel too! By telling people to pull over the vehicle of their lives and allow Jesus to take over! #GodBlessNigeria #End Time Is No More Near, Its Here! 3 Likes 1 Share |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Nobody: 7:57pm On Jan 31, 2016 |
The best article i've read in a long while. A clarion call to action! |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by Ikeobinna(m): 7:58pm On Jan 31, 2016 |
Nigeria, my dear Nigeria. |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by femmysin(m): 7:59pm On Jan 31, 2016 |
NIGERIA end time country, no wonder call rate from hell to naija is very cheep....local call. |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by 989900: 7:59pm On Jan 31, 2016 |
Buying foreign goods (the needed ones), is of less damage to the Naira than importing refined petroleum products -- factor-in importing alternative power sources, especially generators! Those are your real, and of course avoidable demands for Forex (if power is stable even if it is for 12-16 hours/day, and our refineries working). How many shoes or bags does an average Nigerian buy a day, is it those $20-$30 (average) footwear you buy once in 3-6 months vs your average consumption of 4-7 litres ($5-$8 ) of imported refined fuel (PMS, AGO, DPK) per day?! Fix power (can't be over emphasized). Fix the refineries!! Let the CBN Checkmate currency racketeering, and 'excess liquidity'! The other stuffs mentioned are good (producing our own food), but are secondary maladies. Oh, did I mention malfeasance? The GEJs, Diezanis, Dasukis, Abachas, Usenis, Abdusalamis, Tafa Baloguns, IBBs, OBJs, and cronies . . . we are talking probably anything between $150B-$200b in loot! So answer me; how many Brionis, Givenchys, Armanis, Pradas and e.t.c. have you bought, that collapsed the Naira? 4 Likes 1 Share |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by donbigboy(m): 8:00pm On Jan 31, 2016 |
bezimo: You just asked a very good question right there !!! |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by TPAND(f): 8:00pm On Jan 31, 2016 |
An intelligent, expository, and informative write-up as this, should be on the front page of the national dailies. |
Re: See Why The Naira May Fall To The Dollar At #1000/$ by luggy(m): 8:01pm On Jan 31, 2016 |
how does this consine Godwin emefiele, Buhari should be blame |
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