IbeOkehie:


A lot of things have been subsidized for decades in Nigeria. It's those subsidies that have destroyed the economy and created suffering for Nigerians.

The subsidies are the CAUSE of corruption. Federal Universities and Private Universities, which are more corrupt?

The railways are recently revived. The ticket prices are subsidized. You have to pay a bribe to get a train ticket. That's corruption.

Subsidies CAUSE corruption. But I'm sure you know that, the curious thing is why you all choose to pretend it doesn't matter.

Good Luck to Nigeria

Ola9ja23:


You will cry tire

You people were sabotaging our economy through Binance and when Asiwaju ban Binance we saw the reaction of your fraudster and the followers

Asiwaju is on the throne, IPOBidients shall suffer another humiliation

Nigeria will be great again

Cindypresh:


You don't know that most of your basic need is imported?? And with which currency?

How old are you self

Biodun556:


https://guardian.ng/business-services/naira-eyes-n1300-at-parallel-market-as-speculators-offload-fx/?utm_term=Autofeed&utm_medium=Social&Echobox=1710994841&utm_source=Facebook&fbclid=IwAR0NQJ3ZV89GOOSqY1-MXe-Rz0zy3GZQsEBb1BCIMruN6_2972-U-988GOo

Cindypresh:


You're happy that naira is #1580??


What about #216 when your buhari and Apc took power??

Cindypresh:


You said more than this glorifying buhari for 8 wasted years.

Are you sure you don't need help?

Bhol28:
Its not about age,If China,Japan Germany e.t.c have been subsidising dollars against their currencies u think their infrastructural development and economy will be where they are today.I beg wake up and face reality.Only few are benefitting from it,bank managers,politicians e.t.c

Blakjewelry:

Nope it is you that needs help. Buhari didn't initiate any policies rather it was a bad economic policies and poor governance that causes the economy to crash. However this hardship is actually as a result of direct policy changes which will definitely have positive impact in the future. Though I won't take away the blame from tinubu because he is among those who fought gej back then when it was it even more favorable to implement the subsidy remover.

Winning123:


Justify why it should be #216. To educate you, Nigeria was subsidizing the dollar every month for lazy people like you who would not farm. Lazy folks who want to import anything and everything without producing.

Cindypresh:


Are you just knowing?? Or because your tinupoo has taken over??

Cindypresh:


Do you know in some countries in Europe they have free education for their citizens? Foods and beverages are subsidised.

Saudi Arabia offer free education from grade 1 to university for her citizens??

Subsidy destroyed Nigeria and not looting and embezzlement by your government caused it according to you??

epainos:

Why did you attack me? Did I write that I am a Naira-Dollar merchant?

Oga, you need to learn ooo. The engineering tool to determine the value of the market is the black market. The black market used to rely on Aboki Express to make quotations, but after it was disbanded, they started using the Binance rate. Since Binance has stopped p2p naira, they check other p2p platforms. That day that it moved to N1,400, the truth was that it had moved down the previous day before the black market adopted the price. The driving force is these platforms. And why? It was because BTC was retracing, and gradually, it was picking up again. Since BTC is picking up, naira will devalue more.

So, if you don't understand, do not get involved in the discussion. Who uses GTB exchange rates? Immediately you mentioned this, I know you are a JJC. Dem just dey knack your head...gbos....gbas... na waoo.

If the price does not move up by the end of today to tomorrow return here to call me out. That is why I said this Guardian report is rubbish. Oga, enjoy your naira oooo.

chopnaira:
Speculators are losing money big time. They all thought naira would hit N2,000 to a dollar.

IbeOkehie:


It's always difficult to get this across to Nigerians. I don't understand why presumably university educated people can't get it.

Every country in the world has some socialist subsidides in place. The difference is THE LEVEL of subsidies and also affordability.

The USA is generally richer and more prosperous than Europe because it has FEWER
subsidies.

I was having this discussion with another Nairalander who said USA is hell compared to Europe. I then asked him why more Europeans migrate to the USA than the other way round. In fact I can't remember ever meeting or hearing of any USA citizen that migrated to Europe and took their citizenship. But I know of plenty Europeans who come to USA.

Also subsidies tend to work better in HOMOGENEOUS countries. Like Saudi Arabia and most European countries. Nigeria is very diverse.

Also subsidies cost money! It's expensive. That being the case, it's important to have an economy that can GENERATE the money to pay for subsidies.

Unfortunately the Nigerian economy is basically SOCIALIST and socialist economies don't generate money. The USA and Europe are much more CAPITALIST and free market than Nigeria, that is how they produce money to pay for their subsidies.

The factors of production are land, capital and labor. All of these are CONTROLLED by the Nigerian government. In Nigeria individuals can't own LAND. That's a major reason why Nigeria isn't productive.

In the USA individuals own land and therefore can confidently invest in the land to make it more productive and make money and pay taxes. In Nigeria there's less productive investment because government can take the land on which it is built at any time. Think!

You claim looting and embezzlement destroyed Nigeria but you didn't even bother with my relevant argument - which is that subsidies CAUSE corruption & embezzlement in the first place.

Which means that if you want to stop corruption and embezzlement, the most effective way is to get rid of subsidies.

You didn't answer another question. Again in Nigeria, between Federal Universities and Private Universities, which are more corrupt?

And whatever your answer, can you give a reason?

If you're old enough, do you know what NITEL is? Do you know how Nigeria go self sufficient in cement? In fact it's very important to know how old you are.

Good Luck to Nigeria.

Blakjewelry:
the problem is y'all too emotional and can't think rationally. Anybody who has a different view is a tinubu supporter.

Cindypresh:


You're denying tinupoo now?😄 Interesting

Judolisco:
I told someone d naira will come down d way it went up.... If u dey hoard dollars better go change am now o.... When d dollar was going up some people were angry now it's going down u r still angry...

Ogbuu101:

Oga,dollar was 500 when your destroyer in chief took over.
Tell him to take it there b4 you start making noise all over when dollar was actually sold above 1500 yesterday

Olachase:
normally you can never witness happiness

GentryAbi:
Just wait until they started claiming Tinubu is implementing Obi's manifesto. They are all crying on twitter.

Appletek:


It was subsidized at the rate seen last year. It has now ben floated.

IbeOkehie:


Not really. The naira is on a long term losing trend. What happened in the last couple of weeks also happened a few months ago, where naira posted strong gains only to slump.

The only thing that will stabilize the naira is massive implementation of free market principles. The value of tulips had zero fundamentals. The dollar is a real thing for now, it can be used to buy goods and services.

Your SHORT TERM analysis was correct, I hope you traded and made a profit 😀

Those who have preferred DOLLAR over NAIRA have made even more profit over the past 5, 10, 15 and more years. In 1990 the naira was at 5/$....that's true. I hope you traded that trend...the trend of Nigerian economic stagnation.

Good Luck to Nigeria.

epainos:
Rubbish speculation when it is already N1,500 on Bybit at this moment.

Believeintruth:


Bros cool down naaaa at parallel market it is still at 1480 naira

spiSeyi:

Fact is the Naira is not going to move above 1,800 anytime soon. The max is 1500 which is practically on unrealistic. The maximum realistic value is 1200-1400

Cindypresh:


Most nigerians are educated illiterates...very dumb.

Do you know that Germany (Europe giant) have free university education upto PHD level?

But to those suffering and smiling country men, I don't even know how to describe them.gosh

Paraman:
if only you know how much some people are already losing like this because it has fall to 1480

Ogbuu101:

Oga,dollar was 500 when your destroyer in chief took over.
Tell him to take it there b4 you start making noise all over when dollar was actually sold above 1500 yesterdbvay