The problem isn't for rate to come down to sub 1k levels.  The popular excuse is that the cost of goods and services are high or are going higher because of the growing USD<>NGN rate but we have had instance where the rate went down to 1k levels and what happened? Price of goods and services stayed the same.

Imo, best plan would be to solve economic issues and make sure that things like inflation that makes everything super expensive is eliminated otherwise, we'd just be shooting ourselves in the foot.

A patriotic Nigerian will always wish and love to see his country succeed in all sectors especially when it involves the country's budget. Nigeria is Africa giant and we're acquainted with the current situation of the country. I've crucially studied and understand the black market specifically when it comes to the Nigeri currency, Naira against the United States Dollar. These pairs do work hand in hand in the Forex market because they're aligned pairs that traders make good use of.

For me, I wouldn't wish for the Nigeria currency to depreciate against USD, although we've watch countless times when the naira currency gave buckled up but still end up not matching the value of USD. The America dollar is seen as a stable currency that surpassed all Africa currency, they've power and have been making consistent breakthrough in the market.

We have seen alot in this country in the past few years back because when the exchange price of United state dollars increased to around 1800 to a dollar, alot of faje economics labeled the dollar as the reason for the hike in the price of goods and services in the economy, and for that was why they were  against dollars traders to the point of arresting anyone dealing on forex at that time.

But even when the naira eventually recovered against the United States dollars to a point of 1560 at the moment but yet the price of basic commodities are still increasing on daily basis.

It now feels like things are not even correlating.
I have heard some sarcastic statements of marketers, telling buyers that the price of a particular item decreased on the news, and not in reality. The dollar to naira rate was almost getting to #2K per $1 sometime late last year if i remember correctly. tbh, it is really sickening when we recall that the old glory days was more promising.


Are there no people that ought to checkmate these things.
Are there no people that ought to fight for the well being of the masses?. Ooh, it just occurred to me that Nigeria once had an NLC, but today, it seems they've become a political party of their own.



My only wish is that a day doesn't come when we all would wish to see dollar to naira rate at #1600, because it seems every hard moment at this point needs to be enjoyed like it's the last.

I wish that the Naira hit hard on dollar, it doesn't benefits me because I earn in dollar, this is not about me but about other Nigerians and my family. They don't earn in dollars, they earned in Nigeria local currency, ever since the price start declining in value, it has become hell for many salary owners, they barely buy the things they used to buy in those times, it's very difficult to live a normal life in Nigeria even if you are earning huge amount of money before this administration.

The downside of this is if the Naira gain value against the dollar greatly, the market sellers will not crash their price because an average Nigeria business person is very wicked. We complain bitterly about the government but when you check the individuals about the wrong we do, you will understand how good and deserving the kind of government we have. They will not crash the price because it's open market, the market don't decide and even if they want to increase supply, it wouldn't change anything, corruption will not let it work. So, it's better the price remain where it's now.

It is still better to earn in dollar than naira as you will still survive well than those earning in naira which are in same country with you, what most of us earn here in a week is far more better than some persons who think they are doing better work in a month earn in naira, secondly I do not believe that is because high rate of dollar that is making things to be more expensive in the country, there was a period the naira the gaining some value and the citizens thought that since the naira is fighting the dollar so hard now that price of things will reduce but no instead it keep increasing, the truth should be told our leaders are the ones making things difficult for her citizens and honest prayer is for dollar to keep increasing, how I wish I will wake up one day and cheek the dollar rate and $1 is equivalent 2k.

Here's the reality, we have more purchasing power when the Naira has appreciate (or recovered) against the dollars because with the constant inflation of Naira, things are getting expensive for no reason. The Naira falling to N750 instead of the N1,600 that it's trading at the moment, then the price of things are supposed to naturally begin to reduce but the possibility of that not happening is still there due to the economy being a complete joke.

We don't have a stable government and that's what's making the marketers not reducing the price of things because after selling everything and they want to restock, the whole money they realize from the last market mightn't be able to afford them new goods.

The Naira can't be helped at this point and we should understand that the current rate is being manipulated and not the actual exchange rate.

and what will happen after the dollar has been slashed down? will it affect the cost of living of the average man or make my finances better? we have seen in numerous instances the naira gaining and then the price of things remaining as they are without a single change in the way the living standard of people are. in that instance, those earning in dollar loses and those earning in naira do not see any meaningful change. it makes it completely worthless because there is never a time that the naira gains that we have seen a direct reflection in the price of goods.

maybe the reason for this is due to the fact that most times, such change is just as a result of the manipulation that goes around it which makes it extremely hard to know what a real gain of the naira over the dollar is, from what is not the real change. in an ideal case, when the naira is gaining, it is supposed to affect the amount used for importation and that will directly affect the price of most goods which is supposed to lead to a gain for us Nigeria. since that looks really theoretical, we cannot really say that a gain in naira is worth any hype it gets.

Who tell you say if the naira gains strength against the USD say the current assets in USD will be slashed and even if it does, will it reflect in the products that are sold in naira? Over time we don see several occasions wen the naira gain strength against the dollars but the price of goods and commodities remained unchanged so wetin be the essence of wishing the naira to appreciate against the USD when we know say e no go get any effect for the Nigerian economy. I no go talk say make the dollars continue to dey gain strength because i get friends, families and relatives wey dey earn in naira so e go dey really bad if the dollars continue to dey appreciate against the Naira, even if i go benefit since i dey earn in dollars but how about others.

If the Naira gains more value it is also to our advantage. The Nigerian economy is not productive, it depends heavily on imports. If the Naira loses value, it will lead to an increase in the price of goods and services. So even you who earn in dollars will spend more when you buy things.  Someone could build a house with N5m when the dollar was N750. It will be difficult to build now if you have N20m even now that the dollar is N1600.

But I wouldn't deny that those who earn in dollars have a bigger advantage than people who get paid in Naira. As a patriotic Nigerian, I want the Naira to gain more value because we have to consider others who are not privileged like us. Secondly, a high dollar will lead to inflation, thereby making us spend more.