NewStats: 3,263,758 , 8,181,301 topics. Date: Saturday, 07 June 2025 at 06:34 PM 393r1y

A lot of Nigerians are weeping, crying and complaining about the exchange rate with the Dollar. They don't know that a country's currency value is directly correlated to the amount of goods they produce and export. The reason a dollar is #1,600 compared to Naira is because America has a lot of companies. They have a lot to things to offer the world America created the iPhone you all use. They created whatsapp, Instagram, YouTube, Google, Twitter or X. From Nike sneakers to Marvel studios to Boeing airplanes. They're American. While Nigeria only exports oil and maybe afro beats. I don't think music brings that much to us in revenue because we're still streaming it on American platforms. Apple music oh, maybe not Spotify cause they're Swedish, YouTube music they're American. So until Nigerians become creative and start building innovative companies the dollar is going to keep getting worse. Nobody is going to give value to a currency that doesn't give anything. The US was built on capitalism. Instead of blaming Tinubu for everything you can solve some of the problems yourself.

Dear OP, if you know the volume of mineral resources asides crude oil leaving Nigeria everyday that doesn't reflect on our trade balancesheet. Naira should be very close to the dollar. Nigeria is being r@ped daily and our leaders are quiet because of their greed.

..

Tunde835:
A lot of Nigerians are weeping, crying and complaining about the exchange rate with the Dollar. They don't know that a country's currency value is directly correlated to the amount of goods they produce and export. The reason a dollar is #1,600 compared to Naira is because America has a lot of companies. They have a lot to things to offer the world America created the iPhone you all use. They created whatsapp, Instagram, YouTube, Google, Twitter or X. From Nike sneakers to Marvel studios to Boeing airplanes. They're American. While Nigeria only exports oil and maybe afro beats. I don't think music brings that much to us in revenue because we're still streaming it on American platforms. Apple music oh, maybe not Spotify cause they're Swedish, YouTube music they're American. So until Nigerians become creative and start building innovative companies the dollar is going to keep getting worse. Nobody is going to give value to a currency that doesn't give anything. The US was built on capitalism. Instead of blaming Tinubu for everything you can solve some of the problems yourself.

What is tinubu doing in his own part? Don't you think he supposed to create an enabling environment he promised first before other things can set in.

Mbanda:
What is tinubu doing in his own part? Don't you think he supposed to create an enabling environment he promised first before other things can set in.

Nigerians like you can be very uncreative.

DatIgalaDude:
Dear OP, if you know the volume of mineral resources asides crude oil leaving Nigeria everyday that doesn't reflect on our trade balancesheet. Naira should be very close to the dollar. Nigeria is being r@ped daily and our leaders are quiet because of their greed.

Nigerians don't have any ideas. We don't have an animation studio or world class movie studio. No nothing. Time that youths should be building startups they're still asking them to do NYSC. Do you think Americans go for NYSC after university?

Tunde835:
Nigerians don't have any ideas. We don't have an animation studio or world class movie studio. No nothing. Time that youths should be building startups they're still asking them to do NYSC. Do you think Americans go for NYSC after university?

All you guys do is to call youths lazy.
Youths weren't lazy when tinubu led apc were asking Nigerians if $1 to N215 was OK?

You sound naive sha but I won't delve in much.
1st exchange rate won't have gotten to 1600 had tinubu shut his mouth on the handover day, assemble his economic team, sustained subsidy payment while ing dangote to fast track commencement of production. Once dangote refinery starts, remove subsidy. With that, dollar wouldn't have exceeded 500

Secondly, there is so much corruption that have led to abandoned projects that single handedly could have projected Nigeria's economy
Go to brass, go to ajaokuta, go to ikot abasi and see how trillions of naira investment were abandoned. There are lots of things Nigeria has no business importing, so you guys should stop calling people lazy.

Y is Ghana currency by far stronger than our Naira. Is Ghana exporting more than us. What and what are they exporting that outweight our oil?

[Nigerian currency is stronger than Ghanian Cedis, cedis was decimalised when it was like 10000 to a dollar. So if u look at the current cedis add 3 zerosd to it ,that is it true value. Try read about decimalisastion of the cedis.quote author=zuby4real10 post=135572055]Y is Ghana currency by far stronger than our Naira. Is Ghana exporting more than us. What and what are they exporting that outweight our oil? [/quote]

It's well with the Ghanians.

Zionmdde:

All you guys do is to call youths lazy.
Youths weren't lazy when tinubu led apc were asking Nigerians if $1 to N215 was OK?

You sound naive sha but I won't delve in much.
1st exchange rate won't have gotten to 1600 had tinubu shut his mouth on the handover day, assemble his economic team, sustained subsidy payment while ing dangote to fast track commencement of production. Once dangote refinery starts, remove subsidy. With that, dollar wouldn't have exceeded 500

Secondly, there is so much corruption that have led to abandoned projects that single handedly could have projected Nigeria's economy
Go to brass, go to ajaokuta, go to ikot abasi and see how trillions of naira investment were abandoned. There are lots of things Nigeria has no business importing, so you guys should stop calling people lazy.

Thank you.

Those who condemned N215:$1 are suddenly excusing N1600:$1.

Bat is both incompetent and greedy, a nasty combination. He does not understand the basics of socio-economic growth and his policies are designed to satisfy selfish interests which is why despite all the so called 'positive'reforms, Nigeria keeps sinking.

DatIgalaDude:
Dear OP, if you know the volume of mineral resources asides crude oil leaving Nigeria everyday that doesn't reflect on our trade balancesheet. Naira should be very close to the dollar. Nigeria is being r@ped daily and our leaders are quiet because of their greed.

How much do you think Nigerian production is worth annually?

Zionmdde:

All you guys do is to call youths lazy.
Youths weren't lazy when tinubu led apc were asking Nigerians if $1 to N215 was OK?

You sound naive sha but I won't delve in much.
1st exchange rate won't have gotten to 1600 had tinubu shut his mouth on the handover day, assemble his economic team, sustained subsidy payment while ing dangote to fast track commencement of production. Once dangote refinery starts, remove subsidy. With that, dollar wouldn't have exceeded 500

Secondly, there is so much corruption that have led to abandoned projects that single handedly could have projected Nigeria's economy
Go to brass, go to ajaokuta, go to ikot abasi and see how trillions of naira investment were abandoned. There are lots of things Nigeria has no business importing, so you guys should stop calling people lazy.

What are the things we should not be importing?

Name 5.

zuby4real10:
Y is Ghana currency by far stronger than our Naira. Is Ghana exporting more than us. What and what are they exporting that outweight our oil?

You don't even understand currency.

Tunde835:
Nigerians don't have any ideas. We don't have an animation studio or world class movie studio. No nothing. Time that youths should be building startups they're still asking them to do NYSC. Do you think Americans go for NYSC after university?

Has nothing to do with NYSC.

In fact, as poor as the NYSC programme is, you visit and live in unfamiliar places, see new opportunities, make new s.

zuby4real10:
Y is Ghana currency by far stronger than our Naira. Is Ghana exporting more than us. What and what are they exporting that outweight our oil?

Ghana is just fooling itself. Even China and Japan that produce everything still try to devalue their currencies against the US dollar to improve the competitiveness of their economies. Ghana wey be 3rd world country dey drag currency with America.

Tourism in US brings in 2.1 Trillion dollars annually.

Yet you want to enjoy parity.



Nigerians are funny.

Many of you criticising floating of currency are same people that brought us to this state.

Yes, the lust of an average Nigeria is to consume and squandered. Importing all sort of rubbish into the country based on oil production that is less that 2mb/day for over 200m Nigerian is a bad economic policy.

Nigeria have been living on a borrowed life for many years and it takes a man of courage to correct the mess.

What you failed to know is that Nigeria no longer have the resources to defend the naira neither does it have money to pay for subsidy.

Presently, the burden of the previous subsidy and naira defending has placed a huge debt on the country.

the last two years of Jonathan already witnessed money crunch where there's no money to pay salaries and Buhari came only to start borrowing to cover the mess.

Now that we are so lucky to find someone who has put a stop to the self destruction, illiterate and myopic Nigerians are out calling for the head of the president when you should ask yourself what contribution have I made to add value to the Nigerian currency.

Zionmdde:

All you guys do is to call youths lazy.
Youths weren't lazy when tinubu led apc were asking Nigerians if $1 to N215 was OK?

You sound naive sha but I won't delve in much.
1st exchange rate won't have gotten to 1600 had tinubu shut his mouth on the handover day, assemble his economic team, sustained subsidy payment while ing dangote to fast track commencement of production. Once dangote refinery starts, remove subsidy. With that, dollar wouldn't have exceeded 500

Secondly, there is so much corruption that have led to abandoned projects that single handedly could have projected Nigeria's economy
Go to brass, go to ajaokuta, go to ikot abasi and see how trillions of naira investment were abandoned. There are lots of things Nigeria has no business importing, so you guys should stop calling people lazy.

That is exactly my point Nigerians are lazy. Microsoft was started by Bill gates and his friend Paul Allen. They didn't ask the government for anything and today Microsoft, Apple, Facebook and Google are one of the major anchors of the American economy. Private companies and they're one of the reasons the dollar has value. A dollar should equal #3,000 naira this #1,600 is still even better until Nigerians start to think.

Ttalk:
Many of you criticising floating of currency are same people that brought us to this state.

Yes, the lust of an average Nigeria is to consume and squandered. Importing all sort of rubbish into the country based on oil production that is less that 2mb/day for over 200m Nigerian is a bad economic policy.

Nigeria have been living on a borrowed life for many years and it takes a man of courage to correct the mess.

What you failed to know is that Nigeria no longer have the resources to defend the naira neither does it have money to pay for subsidy.

Presently, the burden of the previous subsidy and naira defending has placed a huge debt on the country.

the last two years of Jonathan already witnessed money crunch where there's no money to pay salaries and Buhari came only to start borrowing to cover the mess.

Now that we are so lucky to find someone who has put a stop to the self destruction, illiterate and myopic Nigerians are out calling for the head of the president when you should ask yourself what contribution have I made to add value to the Nigerian currency.

Abi. More Nigerians should be taking risks and starting companies.

If Nigerians keep being d*mb and uncreative $1 dollar is going to equal #5,000 naira soon

Tunde835:
That is exactly my point Nigerians are lazy. Microsoft was started by Bill gates and his friend Paul Allen. They didn't ask the government for anything and today Microsoft, Apple, Facebook and Google are one of the major anchors of the American economy. Private companies and they're one of the reasons the dollar has value. A dollar should equal #3,000 naira this #1,600 is still even better until Nigerians start to think.

Don't mind them, Nigeria is a capitalist state and not a social or welfarism state, for the fact that there are problems to be solve is enough reason to spur Nigerians into action. But everyone is waiting for naira to equal dollar and you asked them what business did they built when a dollar was 22naira

Tunde835:
That is exactly my point Nigerians are lazy. Microsoft was started by Bill gates and his friend Paul Allen. They didn't ask the government for anything and today Microsoft, Apple, Facebook and Google are one of the major anchors of the American economy. Private companies and they're one of the reasons the dollar has value. A dollar should equal #3,000 naira this #1,600 is still even better until Nigerians start to think.

Exactly which point?
Which laziness
Obviously you didn't read my write up. Since apc came on board, it's been all about calling the youths lazy

Commentor:


What are the things we should not be importing?

Name 5.

Refined crude
Steel products
Aluminum products
Petrol chemical products
Finished textile products

Tunde835:
If Nigerians keep being d*mb and uncreative $1 dollar is going to equal #5,000 naira soon

You that is condemning ordinary Nigerians as dumb, which company have you started

Ttalk:


Don't mind them, Nigeria is a capitalist state and not a social or welfarism state, for the fact that there are problems to be solve is enough reason to spur Nigerians into action. But everyone is waiting for naira to equal dollar and you asked them what business did they built when a dollar was 22naira

so the agbero chairman you guys smuggled into asorock is no longer the master planner,the builder of Lagos State from the sea,the first class economics from oluwale uni.so he won't make 1 dollar 1 naira again.but can make 1 dollar 1600.how you set of people reasons should be a case study

nedu666:



You that is condemning ordinary Nigerians as dumb, which company have you started

I'm planning on starting a tech company soon

Currency as a product which forms d basis of exchange rates is first about demand and supply.
The demand for dollar in Nigeria is extremely high, dats why it is priced so high, coupled the population of Nigeria.
The supply of it is so limited, we only get it in relatively small amount through crude oil sale.
If the country can produce enough goods and services to drastically reduce the demand, you'll see an immediate reduction in the exchange rate because very few people will want it. Explanation in layman's

DatIgalaDude:
Dear OP, if you know the volume of mineral resources asides crude oil leaving Nigeria everyday that doesn't reflect on our trade balancesheet. Naira should be very close to the dollar. Nigeria is being r@ped daily and our leaders are quiet because of their greed.

Can you please tell us the volume instead of assuming

Tunde835:
I wish a $1 dollar will become #10,000 naira so people like you can suffer well

that's the target,be patient the agbero chairman,the wisest man from the west,the master strategist,the manufacturer of bullion vans will soon get it there