Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

Smh in dismay

You will not understand for now sha but your eyes go clear real soon

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

Which year has the naira gained before when e crashed

Yourprick:
Yeah dollar at 1200 but why do they keep buying it, aren't you scared Naira might start gaining,our highest imported item is petroleum products and the fg promised a refinery in December, what happens when we stop importing fuel and start refining won't the Naira start gaining? What's the essence of saving in dollars?or you think dollars would keep gaining for the next 4 years lol

look at the billions of dollars we spent importing refined petroleum last year 🙆

When the Dangote and PH refinery start working, it will really relieve pressure on the naira.

I really hope the refinery will work

Things in Nigeria defy that law of gravity. Once it is up it can only plateau and there after continue in upward trend.
Even our leaders won't allow it to come down because they are the major hoarders of foreign currency.

pendusky:


Which year has the naira gained before when e crashed

bro understand the post, look at our highest import, what happens when we stop importing petroleum products? Our problem is too much imports and petroleum up there has the highest percentage

Yourprick:
bro understand the post, look at our highest import, what happens when we stop importing petroleum products? Our problem is too much imports

You have not answered his question.

No magic will make the Naira gain as it is now except we earn upto 300 billion dollars and that's not going to happen..the Naira will cross 2000 before the end of Tinubus first tenure

Nigeria produces nothing except yam, cassava, corn, local rice, vegetables etc the rest are controlled by the dollar. Secondly if you ask your parents they will tell you better that story about refineries started around 1995 and has been used as conduit pipe to siphon billions, only fools are expecting a criminal like tinubu to repair refineries and not chop his own..FYI about Nigeria, anything that goes up in price never goes down meaning that something you bought for 100 naira under buhari when dollar was around 700 would now be bought for 200 in December at current rate of more than 1,300 to a dollar

Ikaeniyan0:
look at the billions of dollars we spent importing refined petroleum last year 🙆

When the Dangote and PH refinery start working, it will really relieve pressure on the naira.

I really pray the refinery will work

So why hasn't the Naira gained significantly against the dollars since the removal of subsidy??

When we paid subsidy in billions of U.S. $$ - Naira was @700


Subsidy was removed in 2023 and Naira fell badly to N1200


What other evidence do you need to know that nothing thrives in the midst of corrupt and stup!d leaders??

Acidosis:


You have not answered his question.

understand the post before asking questions, has Nigeria ever gotten a working refinery?

Acidosis:



So why hasn't the Naira gained significantly against the dollars since the removal of subsidy??

how would it gain when you still import?

If you're praying that the USD should keep increasing in value against the NGN, then I urge that you keep buying more USD.

But if you are wise, you will know that something has peaked and its on it downfall gradually and it will not peak again for the next 3yrs.

SalamRushdie:
No magic will make the Naira gain as it is now except we earn upto 300 billion dollars and that's not going to happen..the Naira will cross 2000 before the end of Tinubus first tenure

if tinubu can stop the free fall of naira at 2000, that will be the greatest miracle in Nigerian history with the way things are going now

Yourprick:
understand the post before asking questions, has Nigeria ever gotten a working refinery?

10 working refineries will nof fix corruption, criminality, and bad leadership.

Having more functional refineries will only give NASS members more reasons to buy 5 Prado each as opposed to 1 each.

Yourprick:
how would it gain when you still import?

Import what quantity? Report shows that fuel consumption fell by over 30% since the removal of subsidy? Does that explain why Naira keeps falling??

Acidosis:



10 working refineries will nof fix corruption, criminality, and bad leadership.

Having more functional refineries will only give NASS members more reasons to buy 5 Prado each as opposed to 1 each.

brother let's start more of export than import so our economy would start springing up,all what you're saying doesn't relate

Anyone telling you that Naira is crashing due to importation is lying to you. Why is the US Dollar not crashing to the Chinese Yuan?

It is crashing because Nigerians lack confidence in their government and country.

It is crashing because of a lack of effective policy implementation.

It is crashing because every family wants to send one or more of their children abroad.

It is crashing because we have more bad guys in leadership positions who know how to follow shortcuts and evade punishment.

Finally, it is crashing because of the lack of credibility of the President.

Yourprick:
brother let's start more of export than import so our economy would start springing up,all what you're saying doesn't relate

Your optimism is great but facts are undeniable. Naira has never gained significantly against the US dollars for a consistent period of time since the 1960s.

You're competing against the strongest currency in the world. Even if Tinubu manages to improve the economy and Naira, do you think America will be stupid not to improve her own economy and currency abi na only Naira wan improve??

Think am! The more the American economy improves, the more the value of the Naira crumbles. It's a two-way thing.

No text book economy policies can work in Nigeria.

Nigeria problem defy all form of economic principles.

When tinubu remove subsidy i was one of those who said the economy will be destroyed within a short time and it came faster than i even thought. Subsidy is not Nigerians problem but too much corruption and insincerity by corrupt government

Acidosis:



So why hasn't the Naira gained significantly against the dollars since the removal of subsidy??

When we paid subsidy in billions of U.S. $$ - Naira was @700


Subsidy was removed in 2023 and Naira fell badly to N1200


What other evidence do you need to know that nothing thrives in the midst of corrupt and stup!d leaders??

I was talking about the billions of dollars spent importing refined petroleum products last year

We are still spending billions of dollars importing oil

fineboynl:
No test book economy policies cam work in Nigeria.

Nigeria problem defy all form of economic principles.

When tinubu remove subsidy i was one of those who said the economy will be destroyed within a short time and it came faster than i even thought. Subsidy is not Nigerians problem but too much corruption and insincerity by corrupt government

The Nigerian economy is not destroyed. The Nigerian economy is still better than Ghana economy.

What a country

OP actually think Nigeria will stop importation of petrochemical products.
Should we tell him?

Ikaeniyan0:
The Nigerian economy is not destroyed. The Nigerian economy is still better than Ghana economy.

How? Give us link and statistics to justify your claim. Hope you are not referring to being the country with the highest GDP in Africa. Because that means nothing to the common man. Per capita income should be a better tool to judge an economy where people and business can thrive .

kcprince:


How? Give us link and statistics to justify your claim.

so Ghana's economy is better than Nigeria economy?lmao

arejibadz:
so Ghana's economy is better than Nigeria economy?lmao

I only said he should give link and source of his claims becasue the last time I checked companies are leaving Nigeria to Ghana.

Ikaeniyan0:
I was talking about the billions of dollars spent importing refined petroleum products last year

We are still spending billions of dollars importing oil

After "subsidy removal"? After fuel consumption dropped by over 30%?

HEAVEN'S GATE IS OPEN. THE BELL IS RINGING BUT THOSE WHO WANT TO GO TO HELL WON'T LISTEN.

Acidosis:


After "subsidy removal"? After fuel consumption dropped by over 30%?

Do that mean we are not importing refined petroleum into Nigeria again?

kcprince:


How? Give us link and statistics to justify your claim. Hope you are not referring to being the country with the highest GDP in Africa. Because that means nothing to the common man. Per capita income should be a better tool to judge an economy where people and business can thrive .

Nigeria is not running to the IMF for a bailout like Ghana

Ikaeniyan0:
Nigeria is not running to the IMF for a bailout like Ghana

They run to IMF we run to china , African development bank, world bank. In fact we even seek bailout to fund palliative and buy SUV’s for serving members of rep.