How unah reason the price of dollar lately

[Cryptsafe]

Omo the rate dollar tey dey rise lately nor be here ohh let me say around this period last year dollar dey around 745  in naira, but now dollar dey 1436 naira. I know say normally this kind thing now sweet and bitter, for we make e dey into this crypto space because as naira dey rise nah so our cash out dey nice. Just imagin those way buy coin when dollar nah 745 naira and the dollar the person purchase that moment nah $100 (74500 in naira). Con imagine say you con convert am to fiat now the $100 (that would be 143600 in naira ) that means you made extra 69100. Shey u see nice profit even those wey buy coin around December here go still make block.

But the negative part now as dollar they rise like this naira dey die. And things go dey expensive for our country because normally we base on importing goods and before we go fit  purchase those goods we have to convert to their currency. So for instance now you hold big money for naira you con convert to their currency e go con small.

How things dey go as dollar dey move you sure say before this year go end dollar nor go hit 2k/dollar in naira.

I understand the fact that the dollar naira rate is fluctuating and the dollar value appreciating while the naira value is depreciating.  My point of view is coming from the economic aspects of our dear beloved nation. As far as Nigeria is still bent on consuming and importing of every thing we use, they naira devaluation would still continue.  Nigeria is a consuming nation and not a producing nation.
Policies to encourage local production and consumption should be implemented to cut short the excessive importations. Look at Ghana for instance, they consume their produce and import less but rather export more of their local products adding value to the Ghana cedes which is far much stable and valuable than the naira..

If only our leaders would do the needful and stop the be excessive dependent on importations, o believe it would help our economy and strength our Currency.

[Thyplaymaker]

Omo the rate dollar tey dey rise lately nor be here ohh let me say around this period last year dollar dey around 745  in naira, but now dollar dey 1436 naira. I know say normally this kind thing now sweet and bitter, for we make e dey into this crypto space because as naira dey rise nah so our cash out dey nice. Just imagin those way buy coin when dollar nah 745 naira and the dollar the person purchase that moment nah $100 (74500 in naira). Con imagine say you con convert am to fiat now the $100 (that would be 143600 in naira ) that means you made extra 69100. Shey u see nice profit even those wey buy coin around December here go still make block.

But the negative part now as dollar they rise like this naira dey die. And things go dey expensive for our country because normally we base on importing goods and before we go fit  purchase those goods we have to convert to their currency. So for instance now you hold big money for naira you con convert to their currency e go con small.

How things dey go as dollar dey move you sure say before this year go end dollar nor go hit 2k/dollar in naira.

I understand the fact that the dollar naira rate is fluctuating and the dollar value appreciating while the naira value is depreciating.  My point of view is coming from the economic aspects of our dear beloved nation. As far as Nigeria is still bent on consuming and importing of every thing we use, they naira devaluation would still continue.  Nigeria is a consuming nation and not a producing nation.
Policies to encourage local production and consumption should be implemented to cut short the excessive importations. Look at Ghana for instance, they consume their produce and import less but rather export more of their local products adding value to the Ghana cedes which is far much stable and valuable than the naira..

If only our leaders would do the needful and stop the be excessive dependent on importations, o believe it would help our economy and strength our Currency.

exactly the dependants of imported goods too much. And now dollar keep increasing things get more expensive. Things getting more expensive equal to more hard labours it would have being good if this our nation still focus on exporting to other nations. When it come to good natural we get am. Government also need to encourage the farmers with resources and good security. There's things certain time they where killing people in their farm land. So alot of farm was scared because of the low security and things became more expensive.

[Cryptsafe]

Omo the rate dollar tey dey rise lately nor be here ohh let me say around this period last year dollar dey around 745  in naira, but now dollar dey 1436 naira. I know say normally this kind thing now sweet and bitter, for we make e dey into this crypto space because as naira dey rise nah so our cash out dey nice. Just imagin those way buy coin when dollar nah 745 naira and the dollar the person purchase that moment nah $100 (74500 in naira). Con imagine say you con convert am to fiat now the $100 (that would be 143600 in naira ) that means you made extra 69100. Shey u see nice profit even those wey buy coin around December here go still make block.

But the negative part now as dollar they rise like this naira dey die. And things go dey expensive for our country because normally we base on importing goods and before we go fit  purchase those goods we have to convert to their currency. So for instance now you hold big money for naira you con convert to their currency e go con small.

How things dey go as dollar dey move you sure say before this year go end dollar nor go hit 2k/dollar in naira.

I understand the fact that the dollar naira rate is fluctuating and the dollar value appreciating while the naira value is depreciating.  My point of view is coming from the economic aspects of our dear beloved nation. As far as Nigeria is still bent on consuming and importing of every thing we use, they naira devaluation would still continue.  Nigeria is a consuming nation and not a producing nation.
Policies to encourage local production and consumption should be implemented to cut short the excessive importations. Look at Ghana for instance, they consume their produce and import less but rather export more of their local products adding value to the Ghana cedes which is far much stable and valuable than the naira..

If only our leaders would do the needful and stop the be excessive dependent on importations, o believe it would help our economy and strength our Currency.

exactly the dependants of imported goods too much. And now dollar keep increasing things get more expensive. Things getting more expensive equal to more hard labours it would have being good if this our nation still focus on exporting to other nations. When it come to good natural we get am. Government also need to encourage the farmers with resources and good security. There's things certain time they where killing people in their farm land. So alot of farm was scared because of the low security and things became more expensive.

Over importation causes devaluation. Too much dependent on foreign goods discourages local production. Policies should be implemented to favour local production and consumption just as Ghana did and it is working for them currently.

With the aspect of security, I would agree with you that this has been a major challenge faced by the people and also farmers. It has discouraged many farmers from going to the farm for the fear of being kidnapped or killed as it has been the challenges in most rural communities and it has caused drastic decline in food crops production leading to hike in price of food crops in the market. Insecurity should be properly handled so that farmers would go back to farming so as to encourage more agriculture production.

[DaNNy001]

With the aspect of security, I would agree with you that this has been a major challenge faced by the people and also farmers. It has discouraged many farmers from going to the farm for the fear of being kidnapped or killed as it has been the challenges in most rural communities and it has caused drastic decline in food crops production leading to hike in price of food crops in the market. Insecurity should be properly handled so that farmers would go back to farming so as to encourage more agriculture production.

Not only on the aspect of farmers scared of going to farm, insecurity is the core propeller of this our problem too. This menace is so widely attributed to so many things that is eating up the economy like for example, the lack of foreign investor to actually make people invest on our naira because as of now they are so many company that would have invested here thereby strengthen the naira more but the case of insecurities have scared these investors.

[Sim_card]

Lack of how to strengthen the Naira is what has made Dollar to appreciate over Naira daily, and this has been a pain on the ass, because the more the Naira depreciates over dollar the more things get expensive in the country. Our government is only after how to borrow money from other second world countries and use the money for their own selfish desires which is worsening the situation in the country the more. Instead of using this money to build our refineries, so that we can refine our own crude and export it to other countries that needs this commodity to strengthen our currency. Instead, they take our crude out of the country to refine and bring it back for usage which is double expenses on the country. How will such country improve their economy when they depend more on importation and consumption.

[Cryptsafe]

With the aspect of security, I would agree with you that this has been a major challenge faced by the people and also farmers. It has discouraged many farmers from going to the farm for the fear of being kidnapped or killed as it has been the challenges in most rural communities and it has caused drastic decline in food crops production leading to hike in price of food crops in the market. Insecurity should be properly handled so that farmers would go back to farming so as to encourage more agriculture production.

Not only on the aspect of farmers scared of going to farm, insecurity is the core propeller of this our problem too. This menace is so widely attributed to so many things that is eating up the economy like for example, the lack of foreign investor to actually make people invest on our naira because as of now they are so many company that would have invested here thereby strengthen the naira more but the case of insecurities have scared these investors.

It is obvious that the existing policies coupled with the security challenges does not favour foreign investors. Not only that, environmental factors and basic fundamentals or amenities if you may like that are to be provided by the government are not in place to support these investors and their investments to boast economic growth which would also boast the naira value have been neglected. The government would need to actively play their role if they want the naira value to be strengthened.

[Gormicsta]

This dollar increament of a thing en, e just dey make the price of thing around here to just dey rise anyhow. Even those wey dey earn in dollar sef dey confirm am say e no easy for anybody talk more of ordinary person wey dey earn in tradition fiat currency. Omor I no go lie you, this country don tire me, this no be the country wey Dem promise us before the election, na why I no dey like politics, the scams and lies too much. Just imagine the way we just dey look our own fiat make inflation just dey kick am like football.

And e go continue to dey like this and even get worse if our leaders continue to dey overlook everything wey dey happen now, now you no fit use 5k go market buy better thing come back, inflation don hit everything, from the price of the smallest thing to the price of the highest thing, I just tire for everything for this country, my advice for people na say, if anybody just get chance to run comot for this country, make e ruuun, because this one don pass becareful.

[goaldot]

No bi small thing, dollar de rise de go. Nobody de talk. Everything in the market de increase everyday. Even our local produce still de high. I de pity de salary earner wey dey no gree increase dia salary. The only people wey dis kin thing no go affect much na de people wey dey crypto and people wey dey pay with dollar.

[DaNNy001]

No bi small thing, dollar de rise de go. Nobody de talk. Everything in the market de increase everyday. Even our local produce still de high. I de pity de salary earner wey dey no gree increase dia salary. The only people wey dis kin thing no go affect much na de people wey dey crypto and people wey dey pay with dollar.

My brother believe me the matter affect everybody but just say the dollar earning people go just get slight advantage. Imagine country the sale of things dey skyrocket everyday and you sey people being paid with dollar no dey affected. Nigeria as it stands now need divine intervention because that's the only resort now because the price increase go make so many crazy things happen when people are actually tired of this especially those people wey dey even think of running away because the cost of affording your preparations only fit make you frustrated.

[Cryptsafe]

Lack of how to strengthen the Naira is what has made Dollar to appreciate over Naira daily, and this has been a pain on the ass, because the more the Naira depreciates over dollar the more things get expensive in the country. Our government is only after how to borrow money from other second world countries and use the money for their own selfish desires which is worsening the situation in the country the more. Instead of using this money to build our refineries, so that we can refine our own crude and export it to other countries that needs this commodity to strengthen our currency. Instead, they take our crude out of the country to refine and bring it back for usage which is double expenses on the country. How will such country improve their economy when they depend more on importation and consumption.

I really do not agree with the phrase "lack of how to strengthen the naira"  there are lots of policies that could solve the problem of naira devaluation. If only the government could pass a law prohibiting excessive importations and focus on production and exportation of local goods coupled with consumption as well, I believe the naira would gain value. But the truth is that our leaders would  never try it because they enjoy the lifestyle they already live based on foreign dependency. Ghana took that bold steps to cut down on importations while they were working on becoming an exporting nation which they succeeded in achieving. Now the Ghana cedes is very stronger and valuable than the naira.

Until Nigeria takes that bold steps to cut down on importations and over dependency on foreign goods and focus on production and exportation of local goods coupled with consumption of local products, the naira would remain at a free fall state.

[Sokani]

I really do not agree with the phrase "lack of how to strengthen the naira"  there are lots of policies that could solve the problem of naira devaluation. If only the government could pass a law prohibiting excessive importations and focus on production and exportation of local goods coupled with consumption as well, I believe the naira would gain value.

How dem want take stop excessive importation wey nothing come out for our side as a nation. We no dey produce anything and di small number of companies wey dey try our government no dey encourage dem.

Abi na di recent news wey dey make rounds on the internet about the increase in import duty rate by 48.49%, which no go really discourage businessmen from importing goods into the country but rather go increase our suffering to pro max. Government wey mean business suppose start with the manufacturing and production sector. Dem go pump money put there, when dem see say we don stand, then dem fit come up with policies to discourage importation.

[Cryptsafe]

I really do not agree with the phrase "lack of how to strengthen the naira"  there are lots of policies that could solve the problem of naira devaluation. If only the government could pass a law prohibiting excessive importations and focus on production and exportation of local goods coupled with consumption as well, I believe the naira would gain value.

How dem want take stop excessive importation wey nothing come out for our side as a nation. We no dey produce anything and di small number of companies wey dey try our government no dey encourage dem.

Abi na di recent news wey dey make rounds on the internet about the increase in import duty rate by 48.49%, which no go really discourage businessmen from importing goods into the country but rather go increase our suffering to pro max. Government wey mean business suppose start with the manufacturing and production sector. Dem go pump money put there, when dem see say we don stand, then dem fit come up with policies to discourage importation.

The policies are what we are talking about here. Policies are meant for a purpose which would help grow the economy of the nation but to be frank what you have said is still another point of view because even after implementing the policies, they would still break the rules governing the policy. As you have said, raising up the importation due is not the problem but rather the agents vested with the responsibility of checkmating the activities of their own workers from being influenced by these so called importers from doing their job.

If the business men import no issues about it but the price actions is what should be really acted upon by the government but yet the government is doing nothing about it because their croonies are the ones in charge and they believe the citizens would still go after it. That is another area the government would really need to look into but I think it would be difficult because they all birds of the same feathers.

[Charles-Tim]

No bi small thing, dollar de rise de go. Nobody de talk. Everything in the market de increase everyday. Even our local produce still de high. I de pity de salary earner wey dey no gree increase dia salary. The only people wey dis kin thing no go affect much na de people wey dey crypto and people wey dey pay with dollar.

My brother believe me the matter affect everybody but just say the dollar earning people go just get slight advantage. Imagine country the sale of things dey skyrocket everyday and you sey people being paid with dollar no dey affected. Nigeria as it stands now need divine intervention because that's the only resort now because the price increase go make so many crazy things happen when people are actually tired of this especially those people wey dey even think of running away because the cost of affording your preparations only fit make you frustrated.

Are you saying those paid in dollar are affected? Or you mean he should not say that, because other Nigerians are suffering? It is true that people earning in dollar will not be affected. But many people in Nigeria are affected and complaining, but that does not mean we should not talk about the people that are not affected also.

Nigeria is beyond intervention because the solutions to the economy problem need to be gone for, but Nigerian leaders are not literate enough or wise enough to get this right. We continue to be more of a depending nation that is depending on what are produced more from outside the country.

[Igebotz]

Are you saying those paid in dollar are affected? Or you mean he should not say that, because other Nigerians are suffering? It is true that people earning in dollar will not be affected. But many people in Nigeria are affected and complaining, but that does not mean we should not talk about the people that are not affected also.

Nigeria is beyond intervention because the solutions to the economy problem need to be gone for, but Nigerian leaders are not literate enough or wise enough to get this right. We continue to be more of a depending nation that is depending on what are produced more from outside the country.

The biggest mistake of this administration was floating the naira against the dollar it wasnt a bad step but it was at a very difficult time when we had nothing in place. A country wey still depends on imports and produces less than what we consume is not in a better place to float currency. Sursidizing the naira against the U.S dollar is also a bad practice, but when you are a consumer country, you have no option than to sursidize the currency.

People mostly affected are those earning in Naira as those earning in dollar can afford and take of things easily.

[Agbe]

A bag of rice is 70k now across the country. And the way dollar is increasing day by day before this year go end him go reach 2k or more and that is no doubt. Really I am not happy of this high cost of living for the citizens. And even as this people are still praising Tinubu, what nonsense is that. And some people are just taking the advantages to do undo others. I don't know what we are going to do legal except revolution which is a massive protest against the bad government. But wait oh, is it that the government is not aware of this cost of living in the country?