RepoMan007:
You don't scare speculators and buyers with a few dollar surge like the govt has been trying to do. You sustain momentum to match demand until the supply superiority pushes prices down permanently.

God bless the man that postulated about the laws of demand and supply. Until the government takes care of supply and all the challenges of supply we are no where. No matter the cosmetic solutions, borrowing to defend the naira, enacting all manners of monetary or fiscal policies, etc the law of demand and supply will humble you. We are in this because FGN/CBN cannot supply required dollars; Why?because we don't have reserve; Why? We are not earning dollars(trade deficit/not meeting OPEC quota/oil thefts by key actors in government and her agencies/...

We need to have a short and long term approach to solving the supply issues. In short term, the only major of dollar earning is crude oil. Now that a price of Brent crude per barrel is $81.12, and it will still go up as Isreal vs Hamas tango exacerbate in the middle East. Nigeria Opec quota of 1.8 million barrels per day which was slashed due to our inability to meet our capacity is 1.38 million barrels per day can be maintained while fighting thefts and vandalism of pipeline. If we can do this as a country and at the same time avoid spending on frivolities like spending scares dollars on yatch, Assembly cars, etc except on key sectors like security, health, education, agriculture, power, manufacturing ..then we are heading to stronger naira.
On the long term, we have to up our exports on non oil sectors like solid minerals instead of giving room to all these Chinese and other dubious foreigners who instigate all manners of insecurities to their advantage. Reduce cost of doing business and subsidies power to the business environment so that our goods can compete fairly in the international market.
In between the two aforementioned terms, we must handle food inflation. Improve security so that farmers can go back to farm instead of being in IDP camp, allow food importation until the local produce is enough to handle demand.

@Kukutente23
With all due respect, that's a stupid question.
Tinubu just budget over 4bn for renovating Aso Rock and another 2.5bn for Dodan barracks. Same Aso Rock Buhari's govt claimed to be renovating just before inauguration in May this year.
You didn't ask why renovate what has already been renovated did you?
I hope you can see how stupid your question is.


@me
I'm well cultured even though this is a faceless forum. I refuse to use gutter language. My question again: who accumulated the backlog and when was it accumulated? Straight answer please 🥺.

But this is still not a good news for dollar speculators, the I&E figure is so close to black market, implications.....

There is still another shake up coming....don't sell ur green backs, Buy some more when they crash the price again

As long as they don't attempt to solve the fundamental problems like import of refine fuel, stup#d excessive unnecessary political spending s etc...Naira go most likely keep tanking!


U want to succeed in 9ja.....

Don't trust the government!
if they keep thier words u win!
if they don't u still win either way!

Faiththatworks:
I don't understand the magic Asiwaju wants to perform with those people in NNPCL or whatever they are called.
I have always maintained that Nigeria biggest source of foreign Revenue and the highest item depleting the same revenue is Oil.
Asiwaju should stop all the shenanigans with trying to balance the Naira to the dollar and do the Needful.
He must as a matter of National urgency sack everyone in NNPCL,from the gateman up to the GMD, everyone in that institution must be sacked just like he did with the top management of CBN.
NNPCL is a big saboteur of the economy or sabo in the language of my Igbo agitators.
The criminals in NNPCL will never allow enough money flow into the economy.
Even the most clueless economist know Nigeria needs not only to export more oil but we need to quickly refine more oil locally so as to as ensure we are not spending the little revenue we are earning.
But the message from the NNPCL is very confusing,they tell you we are binded by OPEC quota,haba does OPEC quota affect the number of barrels we should refine locally.
Another stupid statement made during the week was that Nigeria oil is now favored by European countries,haba the same oil that have been floating on international waters without buyers.
I can go on and on,but Asiwaju should get mad with the saboteurs in NNPCL and send them out with immediate alacrity or give them a deadline, Crude oil must be supplied to Dangote Refinery by December.
If not all this patch patch policy will not shift a needle on the Naira.
Pls check out Lands in my ESTATE
https://www.nairaland.com/7905580/introducing-silvergate-estate-ibeju-lekki
God bless Nigeria.....

I don't think he will do it, no matter the advice given...

mastermaestro:


Ironically this mess favours some 'ordinary' people who receive their income in dollars. You won't know how excited some people are right now about this.

It doesn't really favour them either. It's a give and take situation. They'll earn higher after converting their dollars but higher prices of goods and services will eat up the difference. They're however better off than people who earn in naira whose incomes have remained stagnant.

aboyaji:
Ihe na-ebe ka na-ebe

odiegwu. It is an ikegwuru situation /case.

Vision101:

@me
Who accumulated the backlog? Another person shit and another come they suffer to clear the shit.

It doesn't matter who accumulated the backlog bro. Our man saw the shit before applying for the position of "shit packer". And he actually moved mountains to get the job. It's high time we all called him to find a way to do the job or make way for other "shit Packers" to do so.

Blaze14k:
Mind you this no way near improvement. We need to see the naira at 700 to a dollar that is were I will start praising tinubu

below 700 pls. He should bring it back to where he left it.

Trumpdonald5:
below 700 pls. He should bring it back to where he left it.

Lol u know that won't be possible.

Validated:
Where are the "dollar will fall crooners" like freestuffs who economic illiterates saying.

Don't mind them. Very unreasonable set of people. They think it's by prayers n faith

Unsustainable solutions by CBN

I no tell una. Its easy to predict.

E get one American babe wey dey gbadun me, na so I go yankee, we cun go one spot, before we enter and when we enter, she just lay low for a moment, na im I say how far? wetin dey sup? She say she dey read the room.


So, I say Nigerians read the room.

The matter go enter 1,100 naira by end of December. Then by January's middle, dem go tey bring am down to 900, but by the end, when all the world dey do audit and accounting, e go rise to maybe between 1300 to 1600. Unless America get into war, or nigeria get reliable vast electricity, then e fit drop to below 600.

Kukutente23:


https://punchng.com/naira-falls-to-n1-000-in-official-market/

Has the global economy stop being Dollarised?

I laugh in 419 as Tinubu and associates are fooling you all.

Tinubu is a member of the Powers That Be Group To The Core and HE HAD NO BALLS TO KICK AGAINST HIS KINGMAKERS, I mean Anglo-America and others In Nigeria.

If he as the Balls, let him make the Refineries start working again or do the Banba the Banba which Britain will frown at: allow foreign investors from ASIA to come and Bombard every state in Nigeria with at least 1 refinery.

What happens to our Foreign Reserve Account that He can not Pump Dollars in there to fortify Naira? WHY is he bowing to I.M.F by allowing Naira Devaluation to the deteiment of millions of Commoners in Nigeria?

I laugh is Yahoo Yahoo....

I laugh kikiki

Let us pray that hunger and deprivation does not push the masses beyond the tolerance level they can bear and the predictions of the west regarding Nigeria comes to pass.

If the economic decline continues unabated, the citizens may revolt and take the streets.

You know what they say that a man who is on the ground does not fear being pushed down.

Hmmmmmn. I fear the consequences of millions of angry Nigerian hitting the streets.

Someone should tell Baba

Meedon:
Falling and rising thins

That equals unending PROFITS.

As long as to the SEA, LAND and Airways are Open for import and export and with the Banks on place, Man no care about the value of Naira which is actually represented by the Natural Resources under oil soul but which is been held away from the masses by the Powers that be.

The Benchmark is: WORK AND EARN IN DOLLARS

@emorse
It doesn't matter who accumulated the backlog bro. Our man saw the shit before applying for the position of "shit packer". And he actually moved mountains to get the job. It's high time we all called him to find a way to do the job or make way for other "shit Packers" to do so.

@me
I understand you and I support you. But in our abusing and disparaging we must understand that the heap of the shit is so high because it contains so many years shit. Let's be patient and supportive because another person shit dey smell too much and it hard to pack am particularly when shovel and sewage truck 🚛 scarce. The most important thing is that the shit packer sabi work. He has done it before

Even official market has gotten to 1,000, where are the naira must rise idiats.

Føols thought economy responds to baseless chantings of emilokan and standing on mandates.

RepoMan007:
You don't scare speculators and buyers with a few dollar surge like the govt has been trying to do. You sustain momentum to match demand until the supply superiority pushes prices down permanently.

Simple common sense, but to them everything has to be rocket science.
Do they mean well in the first place?

Vision101:
@Kukutente23
With all due respect, that's a stupid question.
Tinubu just budget over 4bn for renovating Aso Rock and another 2.5bn for Dodan barracks. Same Aso Rock Buhari's govt claimed to be renovating just before inauguration in May this year.
You didn't ask why renovate what has already been renovated did you?
I hope you can see how stupid your question is.


@me
I'm well cultured even though this is a faceless forum. I refuse to use gutter language. My question again: who accumulated the backlog and when was it accumulated? Straight answer please 🥺.

This is the way to reply these Apc bots. When they see that they cannot sway the public opinion with their nonsense, they quickly switch to insults and gutter language

You can never see Apc bots on this thread. They'll rather hide and wait for a chance to spread their vitriol. Very shameless set of human beings

Kukutente23:


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Even my penis is more stable than the naira when it rises

Vision101:
@Kukutente23
With all due respect, that's a stupid question.
Tinubu just budget over 4bn for renovating Aso Rock and another 2.5bn for Dodan barracks. Same Aso Rock Buhari's govt claimed to be renovating just before inauguration in May this year.
You didn't ask why renovate what has already been renovated did you?
I hope you can see how stupid your question is.


@me
I'm well cultured even though this is a faceless forum. I refuse to use gutter language. My question again: who accumulated the backlog and when was it accumulated? Straight answer please 🥺.

No gutter language here
Just straightforward response
To indulge the stupid question since you're so insistent, Buhari did.

Bravepenis:
Even my penis is more stable than the naira when it rises

Kukutente23:
Where are we going in this country with this clueless govt?
I thought they've started paying the backlog and naira will firm up.
This is the first time in history that naira will hit N1000 at the official market.
APC is a massive, unmitigated disaster!!

More than a disaster. An over-hyped, totally useless govt with a fraudulent forget and drug baron as president.
Yet, they send some useless propagandists to media houses to deceive the ignorant masses with sone useless theories and postulations. Pathetic!