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Why Are Nigerians Still Buying Dollars by Yourprick: 5:53am On Oct 25, 2023 |
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 30 Likes 8 Shares
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Re: Why Are Nigerians Still Buying Dollars by culeca: 5:59am On Oct 25, 2023 |
Smh in dismay You will not understand for now sha but your eyes go clear real soon 105 Likes 10 Shares |
Re: Why Are Nigerians Still Buying Dollars by pendusky(m): 6:03am On Oct 25, 2023 |
Yourprick: Which year has the naira gained before when e crashed 191 Likes 12 Shares |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 6:09am On Oct 25, 2023 |
Yourprick: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 85 Likes 11 Shares |
Re: Why Are Nigerians Still Buying Dollars by Whalis: 6:15am On Oct 25, 2023 |
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. 191 Likes 18 Shares |
Re: Why Are Nigerians Still Buying Dollars by Yourprick: 6:22am On Oct 25, 2023 |
pendusky: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 26 Likes 3 Shares |
Re: Why Are Nigerians Still Buying Dollars by Acidosis(m): 6:24am On Oct 25, 2023 |
Yourprick: You have not answered his question. 29 Likes 2 Shares |
Re: Why Are Nigerians Still Buying Dollars by SalamRushdie: 6:24am On Oct 25, 2023 |
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 47 Likes 6 Shares |
Re: Why Are Nigerians Still Buying Dollars by rinzaugustine: 6:25am On Oct 25, 2023 |
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 56 Likes 3 Shares |
Re: Why Are Nigerians Still Buying Dollars by Acidosis(m): 6:25am On Oct 25, 2023 |
Ikaeniyan0: 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?? 146 Likes 10 Shares |
Re: Why Are Nigerians Still Buying Dollars by Yourprick: 6:26am On Oct 25, 2023 |
Acidosis:understand the post before asking questions, has Nigeria ever gotten a working refinery? 11 Likes 2 Shares |
Re: Why Are Nigerians Still Buying Dollars by Yourprick: 6:27am On Oct 25, 2023 |
Acidosis:how would it gain when you still import? 7 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by theophorus(m): 6:27am On Oct 25, 2023 |
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. 15 Likes 4 Shares |
Re: Why Are Nigerians Still Buying Dollars by rinzaugustine: 6:27am On Oct 25, 2023 |
SalamRushdie: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 16 Likes 3 Shares |
Re: Why Are Nigerians Still Buying Dollars by Acidosis(m): 6:29am On Oct 25, 2023 |
Yourprick: 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. 90 Likes 8 Shares |
Re: Why Are Nigerians Still Buying Dollars by Acidosis(m): 6:31am On Oct 25, 2023 |
Yourprick: Import what quantity? Report shows that fuel consumption fell by over 30% since the removal of subsidy? Does that explain why Naira keeps falling?? 26 Likes 4 Shares |
Re: Why Are Nigerians Still Buying Dollars by Yourprick: 6:32am On Oct 25, 2023 |
Acidosis:brother let's start more of export than import so our economy would start springing up,all what you're saying doesn't relate 9 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by MadamExcellency: 6:33am On Oct 25, 2023 |
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. 86 Likes 6 Shares |
Re: Why Are Nigerians Still Buying Dollars by Acidosis(m): 6:35am On Oct 25, 2023 |
Yourprick: 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. 39 Likes 4 Shares |
Re: Why Are Nigerians Still Buying Dollars by fineboynl(m): 6:36am On Oct 25, 2023 |
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 36 Likes 2 Shares |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 7:00am On Oct 25, 2023 |
Acidosis:I was talking about the billions of dollars spent importing refined petroleum products last year We are still spending billions of dollars importing oil 7 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 7:01am On Oct 25, 2023 |
fineboynl:The Nigerian economy is not destroyed. The Nigerian economy is still better than Ghana economy. 7 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by chidiebere2020(m): 7:04am On Oct 25, 2023 |
What a country 1 Like |
Re: Why Are Nigerians Still Buying Dollars by marenkurz: 7:04am On Oct 25, 2023 |
OP actually think Nigeria will stop importation of petrochemical products. Should we tell him? 13 Likes 2 Shares |
Re: Why Are Nigerians Still Buying Dollars by kcprince: 7:08am On Oct 25, 2023 |
Ikaeniyan0: 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 . 13 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by arejibadz(m): 7:10am On Oct 25, 2023 |
kcprince:so Ghana's economy is better than Nigeria economy?lmao 4 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by kcprince: 7:13am On Oct 25, 2023 |
arejibadz:I only said he should give link and source of his claims becasue the last time I checked companies are leaving Nigeria to Ghana. 10 Likes 2 Shares |
Re: Why Are Nigerians Still Buying Dollars by Acidosis(m): 7:14am On Oct 25, 2023 |
Ikaeniyan0: After "subsidy removal"? After fuel consumption dropped by over 30%? 4 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by Iamanoited: 7:21am On Oct 25, 2023 |
HEAVEN'S GATE IS OPEN. THE BELL IS RINGING BUT THOSE WHO WANT TO GO TO HELL WON'T LISTEN. 7 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 7:22am On Oct 25, 2023 |
Acidosis:Do that mean we are not importing refined petroleum into Nigeria again? 5 Likes |
Re: Why Are Nigerians Still Buying Dollars by Ikaeniyan0: 7:23am On Oct 25, 2023 |
kcprince:Nigeria is not running to the IMF for a bailout like Ghana 6 Likes 1 Share |
Re: Why Are Nigerians Still Buying Dollars by kcprince: 7:37am On Oct 25, 2023 |
Ikaeniyan0: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. 28 Likes 1 Share |
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