Nigerian Speculators On Bybit Are Not The Ultimate Problems of The Depreciating Naira.

Let's Be Realistic Here.

The Fall of The Naira is Because Many Nigerians Are Not SOWING To The Land.

They Have Taken It Upon Themselves To Be CONSUMERS, And Not CULTIVATORS.

THE TRUTH.

Naira Has Been Falling Because The Youths Are Either Into Blogging, Yahoo-Yahoo or Other Internet Jobs Earning or Deceiving Others in Dollars.

While, They Forget Agricultural Productions And Allow Their Naira To Freely Fall.


Blame This on The Agricultural Decay of The Government of The People.


Zero Alignment For Agricultural Progress in All 774 Local Government Area In Nigeria.



Zero Effort.


Maximum Corruption in Lower And Higher Places.

Reno O monkey doesn't have sense

How can Rhino Omokery be enjoying himself outside the country yet preaching patriotism that's crazy

SadiqBabaSani:
How can Rhino Omokery be enjoying himself outside the country yet preaching patriotism that's crazy

Hammer blow !

Let Reno tell us how many times he eats Abakaliki local rice in Yemen where he lives.

The thing is, many people speculate on currency, strong or weak. Even if naira becomes strong tomorrow, speculators gonna speculate.

NIgeria needs to be productive. And in due course, we will have a stronk naira.

Anywhere Belle Face has spoken on the Naira depreciation blaming OBIdient and Arise TV.

nairalanda1:
The thing is, many people speculate on currency, strong or weak. Even if naira becomes strong tomorrow, speculators gonna speculate.

NIgeria needs to be productive. And in due course, we will have a stronk naira.

Rhino O monkey doesn't know this.

I still wonder why a person with an above average iq will have anything to discuss about a lunatic like rheno. You guys are just helping the idiot to remain notorious. Mature minds don't respond to everthing they see along the way..
Walks out.....

A raving lvnatic.

When egunje envelope enters his hands, piammmm off to Sychelles or Mauritius for a scuba dive. Why didn't he go to River Ethiope in Abraka, or Bar Beach in Lagos or Otamirri in Ihiagwa?

Tell the lvnatic to patronize aboki for his shoes first before teaching others about using their own hard or not so hard earned money!

And by consumers you mean consumers of imported finished goods .

Who are the ones heavily invested in importation ?

Can we now all agree that liberalising our import sector was what led to the dearth of our manufacturing sector ?

People like Obi are the ones putting pressure on the naira with their import based rackets.

To mop up excess liquidity printed from thin air by Emefile, the FG has three major options :

1. Increase taxes and levies which will drive up inflation but will take a lot of time to mop off excess liquidity. This will lead to a massive recession.

2. Govt across all spheres go on a massive cost saving . This will see to mass lay offs , reduction in benefits and pay. Cut back on all social spending that will include removal of education subsidies, fuel subsidies and scrapping of all agricultural subsidy schemes. This will be a very unpopular move and will only address government spending and do little in mopping off excess liquidity.

3. Devalue the currency and float it in the open FX market. Capital gains from selling FX are enough to mop up excesses liquidity but this must involve no additional government spending.

4. Boosting FX reserves by increasing exports while limiting imports.

5. Recalibrate the Naira away from the USD.

Stop disturbing us about nonentities pls. Nigerian problems are more than that

KEY NOTES:

AGGRESSIVE Exports of Agricultural Products From Nigeria To Other Countries Will ULTIMATELY Reverse The Fall of The Naira.


These Are The Bodies Responsible For The Free Fall of The Naira:


FG,

CBN,

Ministries of Agriculture,

AFREXIM Bank,

NEXIM,

NEPC.