Nigeria's Economy & The Relentless Rise Of The Dollar
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- Опубликовано: 27 сен 2024
- The relentless surge of the U.S. dollar against the Naira has sent shockwaves through the Nigerian economy, driving up prices across all sectors and making everyday life increasingly difficult for millions of Nigerians.
In the past year, Nigeria’s Naira currency has tumbled half its value against the dollar.
This represents a 51.49% depreciation despite the Central Bank of Nigeria’s effort to stabilize the currency.
Gist Nigeria’s Mercy Frank looks at how this affects you, as experts proffer strategies to help Nigeria's Naira rise above the struggle.
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That show buhari and tinubu heads to the wrong 🏃♂️ way.
Let them stop lying to the general public of Nigeria. My country people you should not be deceived by this shenanigans lies their painting on importation is too much if a partition is too much distilling and changing of the Naira into dollar is too much also they continuously doing this every government have their money change into
The Dollar is not really rising, the Naira is dying.
It is not the relentless rise of the USD but the further fall of the Naira as President Bola Tinubu is half way in his efforts to boost import substitution and export promotion in the last sixteen months of his administration. He has to spend more time in deep thinking and decision making because choices have consequences. He has made some good decisions and he has made some terrible decisions that are not pardonable in these circumstances. Long Live Nigeria
Just a reflection of a non productive and corruption laden economy.
It all starts and ends with leadership.
Unfortunately the political leadership prefers to multiply poverty in order to control and manipulate the ordinary Nigerians.
But impunity is when you play deaf to the yearnings and aspirations of your people.
Confused government
look how stable CFA or Kenian schilling is compared to NIRA! Gouverment is cruel
Dollar is inflating naira is just inflating at a faster rate due to economic mismanagement
@channels your graph is misleading.
1970-1980: -23.94%
1980-1990: 1511.11%
1990-2000: 1118.39%
2000-2010: 47.17%
2010-2020: 198.08%
2020-2024: 244.09%
Abi una no go school🤦♂
They have stored all this money in dollars that even when the Naira Is destroyed they will be spending their dollar comfortably at a good rate. For example if the Nigerian state stopped to exist the dollar will still be in existence and they will be able to use the dollar which they've saved in dollar
April to August or even this September is how many months? What made Naira lost almost 100% of it's value in less than 4 months? Incompetence well defined. People that have no clue how economy works should not go near power.