Following how the Trading market is becoming very difficult for the Nigerians using naira lots of controversies everywhere from industrial products to farm produce this makes the economy very hard for a common man it now seems like the country is for only the rich cause the common man find it very hard to cope.
But there are still people who are happy because they earn in dollar so for this these set of people have no problems even if the naira currency goes high every second but those earning in naira are in tears so there are alot of controversies.
There’s no essence why you earn in dollar and spend in Naira. You and the person earning in Naira during economic hardship just have a slight difference. As the economy is getting harder, which is mostly caused by the exchange rate of dollar to Naira, those that earn in Naira are mostly affected and can’t cope with the economy. Those earning in dollar and spending in Naira are just in equilibrium with the changes in economy. They spend higher than what they do before and this will also increase their income when converted to Naira from dollar thereby balancing the change in the economy.
My question to all what if this naira currency takes it shape today what is ur fate what will you say you have benefited from when it was high, cause I still feel that lots of people don't have any savings at all so what will be the difference between you that is earning in dollar and has no savings and a person earning in naira and still has no savings.
The only benefits I can be boastful of is that, I was able to still purchase and achieve what I wanted despite the hardship in the country. In situations like this, savings are very hard to come about because of high cost of living, you just have to be feeding from hand to mouth. It is justifiable if you don’t have any savings throughout this period, they are hard times that you’re not obliged to save.