Nigeria Economy: Naira Hits Record Low as Dollar Liquidity Plunges

[@siriusman6169]

This is the result of blindly following IMF prescription and reforms, devaluation of Naira, removal of subsidy, and floating naira, a President that feel more at home in France than in Nigeria

[@Moabayi-yf6ul]

And don’t you think the IMF might be a decoy by $ to cripple emerging economies and ensure they never thrive?

[@digitaledu6624]

No it's because we don't produce things in Nigeria. We import everything. Those reforms were needed. We can't keep spending 20 to 30 billion dollars a year on subsidies.

[@dalemsilas8425]

@@digitaledu6624 it's the subsidy removal and naira floating! I swear, Apc supporters are mentally slow.

[@dalemsilas8425]

@@digitaledu6624 we have a major export, we produce crude oil! Ffs!

[@owoichoanthony717]

​@@dalemsilas8425Dem and delulu and 5 and 6 Very retarded ppl

[@wise5674]

Nigerians, remember the real problem is not the floating of the naira. The real problem is that we import everything even though we can produce them. If we were not importing so much, we wouldn’t care about the naira floating or not.

[@cyrilact]

Floating the dollar was the worst idea so far. Very useless decision.

[@wise5674]

@@cyrilact unintelligent contribution

[@dalemsilas8425]

It's the floating, stop deluding yourself.

[@owoichoanthony717]

This one na Apc supporter

[@topmedicalshop]

Which sensible country do you see out there, floating their currency . Everyone fix because it only makes your people poorer since their purchasing power becomes very low, even worse the inflation from massive printing of US dollars during corona have been shipped to developing country. You can try to produce all you want, if your people can't purchase your product , foreigners would not invest in your country. By the way all the dollars saved as a result of hosterity measures , where are they ? . Where are the infrastructures ? All the current road networks being constructed are privately owned and would be tolled gated . Una mumu too plenty for Nigeria .

[@enod9746]

When a govt comes on board with no clear plan, this is what happens.

[@omoakin5619]

Awon lokan. Awon ASHIERE

[@owoichoanthony717]

​@@omoakin5619😂😂😂😂

[@nduokwudavid9939]

The problem is our leaders .

[@abdulrasheedbuhari5116]

They will continue until the naira finally vanished out of depreciation. Naira is for the poor mass of Nigeria the civil servants, executive and legislatures holds only USD in cash or investment portfolios.

[@Daniel-eg8kz]

that is what you get from someone who forfeited $460k as proceeds from pushin P' and submitted docs that was not from the issuing body as head of the most populous black nation on earth

[@youme1414]

This is the biggest problem I have with the Nigerian currency. As a Nigerian I am not happy with the way the Naira is pegged against the dollar. When there is problem with the dollar it affects the Nigerian economy in a very bad way.

[@ianobim6986]

Its heading to where it needs to be - that's close to rock bottom.

[@Mgbo65]

@@ianobim6986 like your mum's breast ☺️

[@FullMargin-w4p]

But nigerians always tell us they are the smartest africans and they are the giants of africa, good businessmen this is confusing.

[@godislove7927]

Few months ago, I think it was between March & May, they government borrowed and imported a large amount of dollars to boost more circulation of the currency and counter scarcity, which they believe to be the cause of this very problem and i said that the physical dollars imported as cash will be shared and pocketed by the leaders of Nigeria who are in control, and this was exactly what happened now and it's setting up the country in a worse situation.

[@Gabeyre]

Theyre in the same road as Ethiopia

[@souravjaiswal-jr4bj]

Join BRICS

[@quickbets6061]

Greed and stupidity

[@alexmurphy5548]

@@quickbets6061 greed and incompetence

[@The-Heart-Will-Testify]

They claim to be Giants of Africa 😂😂😂😂 yet have the worst currency in Africa 😂😂😂😂

[@oppinionist]

When dealers become leaders this is the result

[@nduokwudavid9939]

God help us. Youths wouldn't even be able to achieve want we want in life

[@taiwoyusuf718]

Nigerians are learning the hard way; just forget it, the country is done and dusted. NGMI .. the person in charge has been in politics for more than 30 years as no soul left

[@VIVABELLAVIVAHERMANO]

Zimbabwe

[@D-w470]

Very soon naira won’t have any value at all , someone would be buying bread for 5k 😂

[@wise5674]

Oganga is overly negative. And she said a few things that were not 100% true. There are several paths to revenue increases in Nigeria: there are ongoing tax reforms being debated heavily and there is an increasing push about increasing oil production

[@mrkay3048]

What revenue are you talking about? God go punish you. The inflation has risen over a 100%, the currency is almost worth nothing, and the government has refused to pay the new minimum wage, so what exactly are you talking about? Ode oshi

[@wise5674]

@ I’m not insulting you but you are proof on why we need to double or triple our expenditure on education. Because what has your comment got to do with what I wrote?

[@danielchile6845]

@@wise5674 you’re a fool

[@ezeasikobia5059]

Oga, there's no positives from APC.

[@wise5674]

@ take low IQ partisan politics elsewhere. We are talking about high IQ matters here.

[@leeolajideadams]

naira record low please tell us something we dont know when beasts rule a country 👺👺👺👺👺👺👺👺👺👺

[@Cantbelieveyou-zz8gz]

Yeah that why we are joining brics+

[@masterlightjames950]

We are not, unfortunately.

[@ochinsko]

Nothing will change 😂

[@ADM.II.]

That changes, nothing.